/raid1/www/Hosts/bankrupt/TCR

/raid1/www/Hosts/bankrupt/TCR_Public/181012.mbx T R O U B L E D C O M P A N Y R E P O R T E R Friday, October 12, 2018, Vol. 22, No. 284 Headlines 123 GRAND: Case Summary & 9 Unsecured Creditors 133-40 HOOK CREEK: Unsecured Creditors to be Paid 2% from Plan Fund 21 THE SERPENTINE: Nov. 15 Hearing on Disclosure Statement Set 3714 EVANS: Oct. 24 Plan Confirmation Hearing 401 REALTY: Taps Friedman-Roth as Real Estate Broker 7215 N OAKLEY: Has Until Oct. 26 to Exclusively File Plan ABE'S BOAT: Must File Amended Disclosures and Plan Before Oct. 23 ACUSPORT CORP: Unsecureds to Recoup 3%-6% in Liquidation Plan ADVANTAGE TENNIS: Case Summary & Unsecured Creditor AFFORDABLE KAR KARE: Asks Court to Conditionally OK Plan Outline AFFORDABLE KAR KARE: Unsecureds to Receive 50% of Allowed Claims AIR METHODS: Moody's Lowers CFR to B3, Outlook Stable ALL TERRAIN: Nov. 5 Hearing on 2nd Amended Plan Outline ALLIANCE SECURITY: 3 Classes of Claims Added in Latest Plan AMERICAN TELECONFERENCING: Moody's Cuts CFR to Caa1, Outlook Neg. AYTU BIOSCIENCE: Receives First US Patent Covering MiOXSYS BARCORD INC: Disclosure Statement Hearing Set for Nov. 14 BAYWAY HAND: Nov. 7 Plan Confirmation Hearing BDF ACQUISITION: Moody's Alters Outlook to Negative & Affirms CFR BEAUTIFUL BROWS: Seeks to Hire Jason L. Pettie as Attorney BELLA BAG: Proposed Plan to be Funded from Equity Investment BJRP LLC: Seeks to Hire Dettelbach Sicherman as Attorney BNEVMA LLC: Deutsche Bank to be Paid $275K at 7% Over 30 Years BURRELL CONSTRUCTION: U.S. Trustee Unable to Appoint Committee CAJ SOUTHWAY: Full Payment for Unsecured Creditors Over 24 Months CALUMET SPECIALTY: Fitch Assigns 'B-' LongTerm IDR, Outlook Stable CARLOS MIGUELS: Seeks to Hire Buechler & Garber as Counsel CHADHAM HOMEOWNERS: Plan Outline Okayed, Plan Hearing on Nov. 28 CHASTAIN PARK: Seeks to Hire Robl Law Group as Counsel COMMUNITY CHOICE: Seeking to Identify 'Accredited Investor' Holders CORMICAN'S INC: Case Summary & 15 Unsecured Creditors CRT RECOVERY: Oct. 31 Hearing on Disclosure Statement DELMAC LLC: Oct. 12 Plan Confirmation Hearing DORIAN LPG: Responds to BW's Withdrawal of Merger Proposal DPW HOLDINGS: Will Issue $565,000 Note and 400,000 Shares ENERGY GUARD: Committee Seeks to Hire Eron Law as Counsel F.Y.P.M. HOLDING: Hires Briante Realty as Real Estate Broker F.Y.P.M. HOLDING: Seeks to Hire RS Goldman as Accountant FAYETTE MEMORIAL: Case Summary & 20 Largest Unsecured Creditors FERN HILL: Unsecureds to Recoup 25% with No Interest Over 60 Months FIDELITY AMERICAN: Unsecureds to Recover 5% Under Exit Plan FIRST DATA: Fitch Hikes Issuer Default Rating to BB-, Outlook Pos. FOMO GLASS: Exit Plan to Pay 10% Dividend to Unsecured Creditors FQ/LB LP: Treatment of Equity Interest Holders Modified in New Plan GAINESVILLE HOSPITAL: Seeks Conditional Approval of Plan Outline GATEWAY BUICK: Hires Property Assessment as Tax Consultant GLOBAL HEALTHCARE: Subsidiary Secures $200,365 Credit Facility HAMKOR ENTERPRISES: Files 3rd Amended Disclosure Statement HOOPER HOLMES: Quest Diagnostics Completes Acquisition of Assets HOPEWELL RISK: Modifies Plan to Propose 60% Payment to Unsecureds HURRICANE MOUNTAIN: U.S. Trustee Objects to Disclosure Statement INTRADE LOGISTICS: To Pay Unsecs. 60 Monthly Installments of $950 IX DESIGN BUILDERS: 10% Payment for Unsecureds Over 3 Years JC FAMILY SERVICES: Seeks to Hire Darby Law as Bankruptcy Counsel KAIROS HOMES: Seeks to Hire Davis Law Firm as Counsel KSA INVESTMENTS: Trustee Taps Pickwick as Real Estate Broker LAKEWOOD HOUSES: Disclosure Statement Hearing Set for Nov. 20 LAWSON NURSING HOME: Case Summary & 6 Unsecured Creditors LEGACY RESERVES: FMR LLC is No Longer a Shareholder LEGION OPERATOR: Nov. 5 Plan Confirmation Hearing LEVEL SOLAR: Plan Provides Former Employees Allowed Claim of $400K MATTRESS FIRM: Proceeds of Exit Facilities to Help Fund Plan MATTRESS FIRM: Receives Court Approval of "First Day" Motions MEGA 4 LLC: Seeks to Hire Edwin M. Shorty, Jr. as Counsel MID-SOUTH GEOTHERMAL: Regions Bank Opposes Approval of Disclosures MID-SOUTH GEOTHERMAL: Taxing Authorities Object to Plan Outline MONSTER CONCRETE: To Pay EFS $779 Monthly at 5.25% Per Annum MRP GENERATION: Moody's Cuts Rating on $270MM Term Loan B to B3 NANA DEVELOPMENT: Moody's Withdraws Caa2 CFR Amid Debt Redemption NANAK131313 INC: Trustee Blocks OK of Disclosure Statement NAVILLUS TILE: Obtains Approval to Exit Chapter 11 Bankruptcy NEIGHBORHOOD BARRE: Has Until Nov. 16 to File Plan and Disclosures NMN HOLDINGS III: Moody's Assigns B2 CFR, Outlook Stable OAK ROCK: Plan Adds UCC Statement of Position Against Lenders OUR TOWN ASSOCIATES: Hires Yockey & Associates as Accountant OXFORD ASSOCIATES: Effective Date of Hudson Amended Plan Disclosed PACHANGA INC: Seeks to Hire Rubin LLC as Bankruptcy Counsel PACHANGA INC: Seeks to Hire SSG Advisors as Investment Banker PACIFIC DRILLING: Oct. 31 Plan Confirmation Hearing PARADIGM DEVELOPMENT: Seeks to Hire Scott B. Riddle as Attorney PC 12 INC: Seeks to Hire Eron Law, P.A., as Bankruptcy Counsel PEORIA REGIONAL: Plan Discloses OK of Property Sale to ADB PHOENIX RISES: Latest Plan Provides Two Means of Reorganization PRANA YOGA: Unsecureds to Receive Annual Sum of $1K Over 3 Years RESOLUTE ENERGY: Provides Preliminary Q3 Production Results RESOLUTE ENERGY: Wellington Entities Have 10.99% Ownership Stake REX ENERGY: Plan Confirmation Hearing Set for Oct. 15 RIVER HACIENDA: To Continue Paying U.S. Trustee Quarterly Fees RMH FRANCHISE: Committee Seeks Rejection of Disclosure Statement ROCKAWAY WORKFORCE: Secured Creditors Blocks OK of Plan Outline ROOFTOP RESTORATION: Income from Operations to Fund Plan RU CAB: Plan and Disclosure Statement Hearing Set for Dec. 11 RUST BELT: Oct. 29 Hearing on Disclosure Statement SERTA SIMMONS: Moody's Alters Outlook to Negative & Affirms B3 CFR SHORT ENVIRONMENTAL: Hires CliftonLarsonAllen LLP as Accountant SILVERVIEW LLC: Disclosure Statement Hearing Moved to Nov. 20 SL MACINTYRE: Oct. 25 Plan Confirmation Hearing SOUTHWEST SERVICES: Seeks to Hire Davis Miles as Attorney SPARTAN BUSINESS: CSI Wants Disclosure Statement Amended SUPERIOR PLUS: DBRS Confirms BB(high) Issuer Rating, Trend Stable TNT C&P INVESTMENTS: Oct. 31 Hearing on Disclosure Statement TRESHA-MOB: Case Summary & 20 Largest Unsecured Creditors TYSON ENTERPRISES: Seeks to Hire Taylor English as Attorney VERITY HEALTH: Hires Dentons US as Bankruptcy Counsel VERMONT IRISH PUB: Unsecureds to Recover 1.9% Under Proposed Plan VERSA MARKETING: Hires Coleman & Horowitt as Special Counsel VERSA MARKETING: Taps Matthews Wallace & Co as Accountant VERSACOM LP: Tasacom Technologies Files Rival Exit Plan W&T OFFSHORE: Commences Tender Offers for 2019, 2020 & 2021 Notes W&T OFFSHORE: Prices $625-M Offering of Senior Second Lien Notes WALHOF PROPERTIES: Plan Outline Okayed, Plan Hearing on Nov. 28 WHEELCHAIR SALES: Sunrise to be Paid $1,848 Monthly at 6% Per Annum WHITNEY PARK: Case Summary & 5 Unsecured Creditors WORD INTERNATIONAL: Nov. 15 Plan Confirmation Hearing [*] Mark That Calendar! Distressed Investing Conference on Nov. 26 [^] BOOK REVIEW: Crafting Solutions for Troubled Businesses ********* 123 GRAND: Case Summary & 9 Unsecured Creditors ----------------------------------------------- Debtor: 123 Grand LLC 75 Huntington Street Brooklyn, NY 11231 Business Description: 123 Grand LLC is a limited liability company based in Brooklyn, New York, engaged in activities related to real estate. The Company is currently under contract, via assignment, to purchase the real property located at 121-123 Grand Street, Brooklyn, New York. The Property is currently owned by A TO Z Holding Company, Inc. The parties entered into a Real Estate Purchase and Sale Agreement dated Jan. 16, 2018 to sell the Property to the Debtor for a purchase price of $13,360,000. The Debtor's filing was precipitated by the Debtor's need for additional time to consummate the Contract with the Seller and to avoid losing its contract deposit of $1,100,000. Chapter 11 Petition Date: October 10, 2018 Case No.: 18-45824 Court: United States Bankruptcy Court Eastern District of New York (Brooklyn) Judge: Hon. Elizabeth S. Stong Debtor's Counsel: Fred B. Ringel, Esq. ROBINSON BROG LEINWAND GREENE GENOVESE & GLUCK P.C. 875 Third Avenue, 9th Floor New York, NY 10022 Tel: 212-603-6301 (212) 603-6300 Fax: 212-956-2164 Email: fbr@robinsonbrog.com Estimated Assets: $10 million to $50 million Estimated Liabilities: $100,000 to $500,000 The petition was signed by David L. Smith, manager. A full-text copy of the petition is available for free at: http://bankrupt.com/misc/nyeb18-45824.pdf List of Debtor's Nine Unsecured Creditors: Entity Nature of Claim Claim Amount ------ --------------- ------------ A&D Engineering, PLLC $17,500 BAC Group III LTD $45,000 Beam Architects DPC $16,000 Big Apple Testing $6,000 Environmental Business Consultants $4,100 IMC Architecture DPC $58,136 Metropolitan Realty Exemptions, Inc $32,000 Simpson Gumpertz & Heger $4,375 WSP USA Corp $20,000 133-40 HOOK CREEK: Unsecured Creditors to be Paid 2% from Plan Fund ------------------------------------------------------------------- 133-40 Hook Creek Blvd, LLC, filed with the U.S. Bankruptcy Court for the Eastern District of New York a disclosure statement to accompany its plan of reorganization dated Oct. 1, 2018. The Debtor is the fee owner of the real property located in Queens County and commonly known as 133-40 Hook Creek Boulevard, Rosedale, New York 11422 (the "Property"). The Property, built in 1955, is a two-story mixed-use property consisting of one residential unit and one commercial unit, with a value of $650,000. The holders of Class 2 general unsecured claims -- totaling approximately $582,740.52 -- are entitled to vote on the Plan. The holders of Class 2 claims will be paid as follows: Payment of 2% of the allowed amount of Class 2 claims, which total is $11,654.81, with payment to be made in full on the Effective Date of the Plan from the Plan Fund. The monthly payments called for in the Plan will be funded from cash generated from the Debtor's lease of the commercial space contained in the Property which will generate $4,300 per month. The Debtor has recently executed a lease for the commercial space contained in the Property with the Stewart Law Firm, PLLC (a law firm owned and operated by the Debtor's principal's wife). The lease term is to begin on Nov. 15, 2018, and terminate on Oct. 15, 2021. This $4,300 per month will be utilized by the Debtor to make (i) the monthly payment of $982.26 on account of the NYC Tax Claim, and (ii) the monthly payment of $2,922.16 on account of the Deutsche Bank Secured Claim. The remaining $395 will be utilized to pay the normal monthly operating expenses of the Property. In order to fund the payments called for in the Plan to be made on the Effective Date of the Plan (totaling approximately $21,654.81) and including the payments to the Class 2 General Unsecured Creditors and the Administrative Expense Claim, the Debtor will be establishing a plan fund in the amount of $25,000. This $25,000 will be obtained from the Stewart Family Trust which had been established by the Debtor's principal's father who was formerly the mayor of Montego Bay, Jamaica. After the payments called for on the Effective Date of the Plan, the estimated balance of $3,345 remaining in the Plan Fund will be utilized on an as needed basis for repairs and maintenance of the Property. A full-text copy of the Disclosure Statement is available for free at: http://bankrupt.com/misc/nyeb1-18-41595-47.pdf About 133-40 Hook Creek Blvd 133-40 Hook Creek Blvd, LLC, sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y. Case No. 18-41595) on March 22, 2018. At the time of the filing, the Debtor estimated assets of less than $50,000 and liabilities of $1 million. Judge Nancy Hershey Lord presides over the case. The Law Offices of Bruce Feinstein is the Debtor's counsel. 21 THE SERPENTINE: Nov. 15 Hearing on Disclosure Statement Set -------------------------------------------------------------- Bankruptcy Judge Robert A. Mark will convene a hearing on Nov. 15, 2018 at 1:30 P.M. to consider approval of the disclosure statement filed by 21 The Serpentine Roslyn NY LLC. The last day for filing and serving objections to the disclosure statement is Nov. 8, 2018. About 21 The Serpentine Roslyn NY Based in Miami, Florida, realtor 21 The Serpentine Roslyn NY LLC filed a Chapter 11 petition (Bankr. S.D. Fla. Case No. 18-14407) on April 16, 2018. In the petition signed by its managing member, Yonel Devico, the Debtor estimated under $1 million in assets and liabilities. The case is assigned to Judge Robert A Mark. The Debtor is represented by Joel M. Aresty, Esq., at Joel M. Aresty, P.A. No official committee of unsecured creditors has been appointed in the Chapter 11 case. 3714 EVANS: Oct. 24 Plan Confirmation Hearing --------------------------------------------- Judge Caryl E. Delano of the U.S. Bankruptcy Court for the Middle District of Florida issued an order conditionally approving the disclosure statement explaining 3714 Evans LLC's plan. October 24, 2018, at 10:30 A.M., is fixed as the date of hearing of confirmation of the Plan. About 3714 Evans, LLC Based in Fort Myers, Florida 3714 Evans LLC is a privately-held company listing itself as a Single Asset Real Estate (as defined in 11 U.S.C. Section 101(51B)). The Debtor sought protection under chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 18-00852) on Feb. 5, 2018, with estimated assets of $100,000 to $500,000 and estimated liabilities of $1 million to $10 million. The petition was signed by Kenneth Berdick, principal. The Debtor is represented by Charles R. Hayes, Esq. of the Law Office of Charles R. Hayes, P.A. No official committee of unsecured creditors has been appointed in the Chapter 11 case of 3714 Evans LLC as of March 26, according to a court docket. 401 REALTY: Taps Friedman-Roth as Real Estate Broker ---------------------------------------------------- 401 Realty Corp. and 401 Sunrise Corp. received approval from the U.S. Bankruptcy Court for the Eastern District of New York to hire Friedman-Roth Realty Services LLC as their real estate broker. The firm will assist in the marketing and sale of a real property owned by 401 Realty located at 401 Randall Avenue, Lynbrook, New York; and substantially all of 401 Sunrise's assets, including the Sunrise Diner building and contents and the lease with Anna and Andreas Costea for real property located at 401 Sunrise Highway, Lynbrook, New York. Friedman-Roth will get a commission of 4.5% of the sale proceeds below $1 million and 5% of the sale price above $1 million. George Niblock, managing partner of Friedman-Roth, disclosed in a court filing that his firm is "disinterested" as defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: George Niblock Friedman-Roth Realty Services LLC 44 East 32nd Street, 9th Floor, New York, NY 10016 646.453.5848 917.498.8234 Email: gniblock@friedmanroth.com About 401 Realty Corp. and 401 Sunrise Corp. 401 Realty Corp. owns a real property located at 401 Randall Avenue, Lynbrook, New York, which is a vacant lot currently used as the back parking lot for the Lynbrook Diner. 401 Sunrise Corp. operates a diner located at 401 Sunrise Highway, Lynbrook, New York, known as the Lynbrook Diner. It owns the diner building and contents but not the land. The land is leased from Anna and Andreas Costa. 401 Realty Corp. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y. Case No. 18-44350) on July 27, 2018. On August 13, 2018, 401 Sunrise filed for Chapter 11 protection (Bankr. E.D. N.Y. Case No. 18-44666). The cases are jointly administered under Case No. 18-44350. At the time of the filing, 401 Realty estimated assets of less than $100,000 and liabilities of less than $500,000. 401 Sunrise estimated assets of less than $50,000 and liabilities of less than $50,000. Judge Carla E. Craig presides over the cases. The Debtors tapped Morrison Tenenbaum, PLLC as their legal counsel. 7215 N OAKLEY: Has Until Oct. 26 to Exclusively File Plan --------------------------------------------------------- The Hon. Deborah L. Thorne of the U.S. Bankruptcy Court for the Northern District of Illinois has extended 7215 N Oakley, LLC's exclusive periods during which only the Debtor can file a Chapter 11 plan of reorganization and solicit acceptances of the plan to and including Oct. 26, 2018, and Dec. 26, 2018. As reported by the Troubled Company Reporter on Sept. 4, 2018, the court previously extended the exclusive periods for the Debtor to file a plan and solicit acceptances of the plan to and including Oct. 5, 2018, and Dec. 4, 2019. On Oct. 2, the Debtor asked the Court to extend the exclusive periods during which only the Debtor can file a plan and solicit acceptances of the plan through and including Dec. 5, 2018, and Feb. 5, 2019, respectively, claiming that it has made significant progress toward a successful reorganization since this case was filed in March 2018. Among other things, the Debtor has filed a confirmable Chapter 11 plan and steadily increased the value of the secured creditors' liens on the Debtor's property. The Court also set a timeframe for resolving issues pertaining to the extent and validity of the secured creditors' claims. Under the Court's scheduling order, secured creditors must file claims by Aug. 15 (which they did on that date), and the Debtor must submit any objections by Sept. 17 (which the Debtor has). Until these claims are resolved by final order of the Court, however, the Debtor requires an extension of exclusivity to propose and confirm a plan. The primary secured creditors only filed proofs of claim as of Aug. 15, 2018, and asserted claims in the aggregate of approximately $4.3 million. The Debtor has filed objections to these claims and has set the objections for a hearing. The outcome of any claim objections will necessarily influence the treatment of these claims in a plan. This first factor weighs in favor of an extension. The Debtor has made good faith progress toward reorganization. The Debtor has already filed a Disclosure Statement with adequate information and a confirmable Plan. This second factor also supports granting the Debtor an extension. The Debtor is paying expenses as they come due. Not only are post-petition expenses being paid, but the Property is generating significant net income and the Debtor has, per an agreed budget, caused much needed repairs and improvements to be made to MRR 7215's collateral. This third factor supports granting the Debtor an extension of the Exclusivity Periods. The Debtor said it has a realistic reorganization underway and has already filed a confirmable Plan. A summary of the treatment of all of the Debtor's creditors under the Plan is set forth at pages 3 through 7 of the Disclosure Statement. The Debtor intends to fund payments made under the Plan with, among other things, (i) the significant net income generated by the Property and (ii) a new value contribution of approximately $300,000, a described in detail at pages 9 and 10 of the Disclosure Statement. The fourth factor weighs in favor of the requested extension. This bankruptcy case has been pending since only March 14, 2018. During that time, the Debtor has been engaged in various administrative tasks alongside its attempt at negotiations with the secured creditors. Those tasks have included, among other things, (i) drafting and filing motions, including a motion to extend the time to file bankruptcy schedules and an application to employ Debtor's counsel; (ii) defending against MRR 7215's motion to allow the prepetition state court receiver to remain in possession of the Real Estate, which the Court denied; (iii) drafting and filing the Plan and Disclosure Statement; and (iv) drafting the cash collateral motion. Finally, certain unresolved contingencies prevent the Debtor from finalizing a plan, namely resolution of the primary secured claims against the Debtor, which were only filed on Aug. 15, 2018. The Debtor cannot determine their treatment under the Plan until the amount and nature of the claims have been resolved. This unresolved contingency has a finite end, however, by virtue of the Court's order requiring the Debtor to object to the claims by Sept. 17, the Debtor filing the objections and setting the objections for a hearing on Oct. 18, 2018. Resolution of these objections is nevertheless necessary for the Plan to provide the proper treatment of the secured creditors' claims. Copies of the Debtor's request and court order are available at: http://bankrupt.com/misc/ilnb18-07309-75.pdf http://bankrupt.com/misc/ilnb18-07309-81.pdf About 7215 N Oakley 7215 N Oakley LLC is an Illinois limited liability corporation with its principal offices located at 30 Coventry Road, Northfield, Illinois 60093. 7215 N Oakley listed its business as Single Asset Real Estate (as defined in 11 U.S.C. Section 101(51B)). 7215 N Oakley filed a Chapter 11 petition (Bankr. N.D. Ill. Case No. 18-07309) on March 14, 2018. In the petition signed by Nick Stein, manager, the Debtor estimated assets and liabilities of at least $10 million. The case is assigned to Judge Deborah L. Thorne. Robert W Glantz, Esq., at Shaw Fishman Glantz & Towbin LLC, is the Debtor's counsel. ABE'S BOAT: Must File Amended Disclosures and Plan Before Oct. 23 ----------------------------------------------------------------- Bankruptcy Judge Elizabeth W. Magner ordered that the hearing on Abe's Boat Rentals, Inc.'s disclosure statement be continued to Nov. 1, 2018 at 2:00 p.m. The Debtor must submit its Amended Disclosure Statement and Plan of Reorganization by no later than Oct. 23, 2018. All new objections and responses to the Amended Disclosure Statement must be filed by no later than Oct. 31, 2018. About Abe's Boat Rentals Abe's Boat Rentals, Inc. -- https://www.abesboatrental.com/ -- is a privately-owned vessel operator located in Belle Chasse, Louisiana, with a fleet of 19 vessels. The Company's business segments have expanded to also provide crews and vessels for environmental construction, restoration projects and cleanup, plugging and abandonment, rig decommissioning and other new markets. Abe's Boat Rentals was founded in 1979 by Abraham Ton. Abe's Boat Rentals, Inc., filed a Chapter 11 petition (Bankr. E.D. La. Case No. 18-11102) on April 27, 2018. In the petition signed by Hank Ton, president, the Debtor estimated $1 million to $10 million in assets and liabilities. Congeni Law Firm, LLC, is the Debtor's counsel. ACUSPORT CORP: Unsecureds to Recoup 3%-6% in Liquidation Plan ------------------------------------------------------------- ASPC Corp., f/k/a AcuSport Corporation and the Official Committee of Unsecured Creditors submit a disclosure statement with respect to their proposed plan of liquidation dated Oct. 2, 2018. Pursuant to the Plan, the Debtor's assets, consisting of the Debtor's Cash, Causes of Action, and miscellaneous other assets, will be distributed to the Creditor Trust and managed by the Creditor Trustee. The Creditor Trustee will take actions to liquidate and administer the remaining non-cash Assets, including, among other things, investigating and, if determined to be appropriate, pursuing Causes of Action. The Creditor Trustee will make distributions to creditors pursuant to the terms of the Plan and prior orders of the Bankruptcy Court. Allowed Administrative Claims, Allowed Priority Tax Claims, Allowed Secured Claims, and Allowed Priority Claims will be paid in full. Holders of Allowed General Unsecured Claims will receive a Pro Rata portion of remaining Cash in accordance with the Creditor Trust Agreement and the Plan, but distributions will not be made on account of Equity Security interests, and those interests will be canceled and extinguished. Expected recovery for unsecured creditors is 3% to 6%. The Plan contemplates a liquidation, so the goals of the Plan are feasible and the risk of further financial reorganization is not relevant. A full-text copy of the Disclosure Statement is available for free at: http://bankrupt.com/misc/ohsb2-18-52736-348.pdf About AcuSport Corp. Based in Bellefontaine, Ohio, AcuSport Corporation is a nationwide distributor of shooting sports products and business solutions for the independent firearms retailer with regional sales offices in Ohio, Pennsylvania, Georgia, Minnesota, Texas, Montana and California. AcuSport Corporation, based in Bellefontaine, OH, filed a Chapter 11 petition (Bankr. S.D. Ohio Case No. 18-52736) on May 1, 2018. In the petition signed by CFO John K. Flanagan, the Debtor estimated $10 million to $50 million in assets and $50 million to $100 million in liabilities. The Hon. John E. Hoffman Jr. presides over the case. The Debtor hired Allen Kuehnle Stovall & Neuman LLP, as local counsel; Bryan Cave Leighton Paisner LLP, as general counsel; Huron Transaction Advisory LLC, as investment banker; Huron Consulting Services LLC, as financial advisor; and Donlin Recano & Company, Inc., as claims noticing & solicitation agent. ADVANTAGE TENNIS: Case Summary & Unsecured Creditor --------------------------------------------------- Debtor: Advantage Tennis LLC 6 Symmes Court Cranbury, NJ 08512 Business Description: Advantage Tennis LLC has a leasehold interest in a tennis facility located at 99 Clarksville Road, Princeton, New Jersey valued by the company at $1.9 million. Chapter 11 Petition Date: October 10, 2018 Case No.: 18-30214 Court: United States Bankruptcy Court District of New Jersey (Trenton) Debtor's Counsel: David L. Bruck, Esq. GREENBAUM, ROWE, SMITH, & DAVIS LLP 99 Wood Avenue South Iselin,, NJ 08830 Tel: (732) 549-5600 Fax: (732) 549-1881 E-mail: bankruptcy@greenbaumlaw.com Total Assets: $1,935,355 Total Liabilities: $2,028,451 The petition was signed by Frank Marckioni, member. The Company lists SINO-US Science, Culture and Sports, LLC as its sole unsecured creditor holding a claim of $128,451. A full-text copy of the petition is available for free at: http://bankrupt.com/misc/njb18-30214.pdf AFFORDABLE KAR KARE: Asks Court to Conditionally OK Plan Outline ---------------------------------------------------------------- Affordable Kar Kare, Inc. filed a motion asking the U.S. Bankruptcy Court for the Northern District of Texas to conditionally approve its small business disclosure statement dated Oct. 2, 2018. The Debtor also asks the Court to set deadlines and schedule a confirmation hearing. About Affordable Kar Kare Inc. Affordable Kar Kare, Inc. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Tex. Case No. 18-31247) on April 5, 2018. In the petition signed by Perry Dunn, president, the Debtor estimated assets of less than $1 million and liabilities of less than $500,000. Judge Stacey G. Jernigan presides over the case. AFFORDABLE KAR KARE: Unsecureds to Receive 50% of Allowed Claims ---------------------------------------------------------------- Affordable Kar Kare, Inc., filed a disclosure statement referring to its proposed plan of reorganization dated Sept. 28, 2018. Affordable Kar Kare filed its voluntary Chapter 11 case in the U.S. Bankruptcy Court for the Northern District of Texas on April 5, 2018. The Debtor operates an automotive repair business in 222 S Galloway Ave Mesquite, TX. Class 11 allowed unsecured creditors will share pro rata in the unsecured creditors pool. The Debtor will make monthly payments commencing on the Effective Date of $250 into the unsecured creditors' pool. The Debtor will make distributions every 90 days commencing 90 days after the Effective Date. The Debtor will make a total of 60 payments or the number of payments necessary to pay all Class 11 claimants in full if less than 60 payments are needed, into the unsecured creditors' pool. Based upon the Debtor's Schedules the Class 11 creditors will receive approximately 50% of their Allowed claims. The Debtor anticipates the continued operations of the business to fund the Plan. Based upon the Debtor’s projections, the Debtor believes the Plan to be feasible. A copy of the Disclosure Statement is available for free at: http://bankrupt.com/misc/txnb18-31247-11-59.pdf About Affordable Kar Kare Inc. Affordable Kar Kare, Inc. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Tex. Case No. 18-31247) on April 5, 2018. In the petition signed by Perry Dunn, president, the Debtor estimated assets of less than $1 million and liabilities of less than $500,000. Judge Stacey G. Jernigan presides over the case. AIR METHODS: Moody's Lowers CFR to B3, Outlook Stable ----------------------------------------------------- Moody's Investors Service downgraded Air Methods Corporation's Corporate Family Rating to B3 from B2 and its Probability of Default Rating to B3-PD from B2-PD. Following this rating action, the outlook is stable. Moody's took the following rating actions: Air Methods Corporation Corporate Family Rating downgraded to B3 from B2 Probability of Default Rating downgraded to B3-PD from B2-PD $125 million senior secured revolving credit facility downgraded to B2 (LGD3) from B1 (LGD3) $1.25 billion senior secured first lien term loan downgraded to B2 (LGD3) from B1 (LGD3) $500 million senior unsecured notes downgraded to Caa2 (LGD5) from Caa1 (LGD5) The rating outlook is stable. The downgrade of Air Methods' Corporate Family Rating (CFR) to B3 from B2 reflects material increase in company's leverage as a result of ongoing headwinds including weather-related cancelations, increased fuel and fleet maintenance costs and a shift of payor mix away from commercial to Medicare. Considering the impact of these dynamics, Moody's expects the company's adjusted debt/EBITDA will increase to around 7.3 times at the end of fiscal 2018 -- approximately 1.0 times higher than what it was at the end of fiscal 2017, with high financial leverage continuing into 2019. The company's initiatives to capture new demand, manage recent negative press coverage, restructure underperforming operations and overall cost cutting efforts will bear positive results. However, it will take several quarters for the full impact of these initiatives to get reflected in the company's financial metrics. RATINGS RATIONALE Air Methods' B3 CFR reflects high financial leverage, operating performance volatility caused by adverse weather conditions and significant bad debt expenses. Moody's expects the company to operate with financial leverage of 6.5-7.5 times over the next 12-18 months. Offsetting above challenges, Air Methods' B3 CFR is supported by a stable revenue base, good cash flow, and the company's position as a leading provider of community-based air ambulance services in the United States. The company has good flexibility to conserve cash because the need for capital expenditures related to fleet renewal/replacement is likely to remain modest in the next 1-2 years. Air Methods significantly upgraded its fleet between 2014-16, and as a result, the average age of its fleet is lower than that of other industry peers. The company also has good liquidity supported by positive free cash flow, ample revolver availability and no near-term maturities of its long term debt. The stable ratings outlook reflects Moody's expectation that the company will continue to face performance headwinds in the near term and it will operate with high financial leverage in the next 12-18 months, but debt/EBITDA will not exceed 7.5 times. Air Methods would have to effectively manage its growth and reduce debt/EBITDA towards 6.0 times before Moody's would consider an upgrade. The rating could be downgraded if the company's operating performance deteriorates significantly or if its liquidity deteriorates. The rating could also be downgraded if the company's debt/EBITDA is sustained above 7.5 times and/or its interest coverage (EBITA/Interest Expense) declines below 1.0 times. The principal methodology used in these ratings was Business and Consumer Service Industry published in October 2016. Air Methods is one of the largest providers of air medical emergency services in the United States. In addition to the core air medical emergency services business, the company also provides aerial tours of the Grand Canyon, the Hawaiian Islands and Las Vegas. The company also has a small presence in design, manufacture, and installation of medical aircraft interiors for domestic and international customers. The company is owned by American Securities. Net revenues are around $1.2 billion. ALL TERRAIN: Nov. 5 Hearing on 2nd Amended Plan Outline ------------------------------------------------------- According to a notice, All Terrain LLC has filed a proposed second amended disclosure statement containing information concerning the debtor in possession, an explanation of the second amended plan of reorganization, and a brief explanation of the business activities and financial information. A hearing to determine whether such statement contains adequate information will be held before U.S. Bankruptcy Judge Joseph M. Meier, at the United States Courthouse, 801 East Sherman Avenue, Pocatello, Idaho, on Nov. 5, 2018, at 10:00 a.m., Mountain Time, via video conference. Written objections and/or proposed modifications to the Disclosure Statement must be filed not less than seven days prior to the time set for hearing. About All Terrain Headquartered in Saint Anthony, Idaho, All Terrain LLC provides home moving services. The company's moving services include crane and rigging, historic preservation, residential moving, doublewide moving, and commercial moving. It is affiliated with Hathaway Homes Group LLC, a dealer of recreational vehicle and manufactured homes in South East Idaho. Hathaway Homes sought bankruptcy protection (Bankr. D. Id. Case No. 17-40992) on Nov. 10, 2017. All Terrain sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Idaho Case No. 17-40999) on Nov. 13, 2017. In the petition signed by Paul J. Hathaway, member and manager, the Debtor estimated assets of less than $50,000 and liabilities of $1 million to $10 million. Judge Jim D. Pappas presides over the case. Kohler Law Office is the Debtor's bankruptcy counsel. ALLIANCE SECURITY: 3 Classes of Claims Added in Latest Plan ----------------------------------------------------------- Alliance Security, Inc., on Oct. 4 filed with the U.S. Bankruptcy Court for the District of Rhode Island its latest Chapter 11 plan, which contains changes to the classification of claims against the company. The plan now contains three more classes: Class 1 secured claim of PNC Equipment Finance, LLC; Class 8 priority claims of the State of New Jersey Division of Employer Accounts; and Class 9 secured claim of Hewlett Packard Financial Services Company. According to the latest plan, PNC's secured claim will bear interest at the rate of 5% per annum and will be amortized in 60 equal payments of principal and interest totaling $1,103.97, with the first payment due on the 15th day of the first month following the effective date. This class is impaired and, therefore, PNC is entitled to vote on the plan. Alliance Security estimates that NJDEA's priority claims will total $2,805.64. Under the plan, this claim will be paid in full within 60 days of the effective date. This class is unimpaired and, therefore, NJDEA is not entitled to vote. Meanwhile, HPFS' secured claim will bear interest at the rate of 7% per annum and will be amortized in 60 consecutive and equal monthly payments of principal and interest totaling $3,485.01, with the first payment due on the 15th day of the first month following the effective date. Immediately upon confirmation of the plan, Alliance Security will execute a promissory note and security agreement, and Jasjit Gotra, the company's majority shareholder and chief executive officer, will execute a guaranty of its obligation to HPFS. Alliance Security will also release HPFS from any avoidance claims under the Bankruptcy Code. This class is impaired and, therefore, HPFS is entitled to vote. A copy of the first amended Chapter 11 plan of reorganization is available for free at: http://bankrupt.com/misc/rib17-11190-635.pdf About Alliance Security Based in Warwick, Rhode Island, Alliance Security, Inc. -- http://www.alliancesecurity.com/-- is a security system supplier. Alliance Security filed for Chapter 11 bankruptcy protection (Bankr. D.R.I. Case No. 17-11190) on July 14, 2017, estimating its assets and liabilities at between $1 million and $10 million. The petition was signed by Jasjit Gotra, its president and CEO. Judge Diane Finkle presides over the case. The Delaney Law Firm LLC, led by William J. Delaney, serves as the Debtor's bankruptcy counsel; Venable, LLP as its special counsel; and DiSanto, Priest & Co. as accountant. The U.S. Trustee for the District of Rhode Island appointed an official committee of unsecured creditors on July 27, 2017. The Committee hired Robinson & Cole LLP as its counsel. AMERICAN TELECONFERENCING: Moody's Cuts CFR to Caa1, Outlook Neg. ----------------------------------------------------------------- Moody's Investors Service downgraded American Teleconferencing Services, Ltd.'s Corporate Family Rating to Caa1, from B3, its Probability of Default Rating to Caa1-PD, from B3-PD, and the rating for its first lien credit facilities to B3, from B2. The ratings outlook is negative. ATS is a wholly-owned subsidiary of Premiere Global Services, Inc., which is owned by affiliates of Siris Capital Group, LLC. RATINGS RATIONALE On October 3, 2018, PGi reported that it received a $25 million equity contribution to shore up its liquidity and appointed a new CEO. The company is also in the process of selling a non-core asset. Despite the capital contribution, the downgrade reflects Moody's expectation for weak liquidity over the next 12 months, including limited, if any, cushion under the leverage covenant, limited availability under its revolving line of credit, and weak free cash flow that will be insufficient to fund mandatory term loan payments and earn-outs over the next 12 months. Absent the planned asset divestiture or an amendment of the revolver, there is a material risk of breaching the leverage covenant. Moody's believes that the divestiture will only temporarily alleviate PGi's liquidity position. PGi's revenues from its legacy audio conferencing services are expected to continue to decline. The company's strategy of offsetting the revenue declines with growth from Unified Communications products has high execution risk. The scheduled maturity of PGi's revolving credit facility in December 2020 limits the available time to demonstrate the commercial success of the new products. Since its leveraged buyout PGi has executed on significant cost reductions that have mitigated the impact of declining revenues. But sustained revenue declines and a limited track record of sales from new products increases uncertainty in estimating cash flow over the next 12 to 18 months. The Caa1 CFR reflects PGi's weak financial profile, sustained revenue declines and the lack of a competitive UC product offering. Both the legacy audio conferencing services and the UC markets are intensely competitive and include competitors with significantly larger scale and technology resources. Moody's expects PGi's total debt to EBITDA to remain high near 6x (Moody's adjusted). The rating additionally incorporates the track record of sponsors' aggressive shareholder-friendly policies despite PGi's business challenges and uncertainties. The negative outlook reflects Moody's expectation for weak free cash flow and limited liquidity over the next 12 months. Absent solid growth in UC products to offset declining conference revenues, there will be an increased risk that the capital structure is unsustainable. ATS's ratings could be downgraded if Moody's expects liquidity to continue to weaken and a meaningful turnaround in operating cash flow and profitability is not expected to occur in 2019. Moody's could upgrade ATS's rating if liquidity improves substantially, revenue stabilize and Moody's expects free cash flow to increase to about 5% of adjusted debt and total debt to EBITDA (Moody's adjusted) to decline toward 5x. Downgrades: Issuer: American Teleconferencing Services, Ltd. Probability of Default Rating, Downgraded to Caa1-PD from B3-PD Corporate Family Rating, Downgraded to Caa1 from B3 Senior Secured Bank Credit Facility, Downgraded to B3 (LGD3) from B2 (LGD3) Outlook Actions: Issuer: American Teleconferencing Services, Ltd. Outlook, Remains Negative Premiere Global Services, Inc. provides audio conferencing, web and video collaboration services. The principal methodology used in these ratings was Business and Consumer Service Industry published in October 2016. AYTU BIOSCIENCE: Receives First US Patent Covering MiOXSYS ---------------------------------------------------------- Aytu BioScience, Inc., announced the issuance of a U.S. patent covering the company's proprietary MiOXSYS diagnostic platform for male infertility. This is the first patent specifically covering fertility measurement methods with the MiOXSYS System and is the 15th U.S. patent overall covering the system's core oxidation-reduction potential (ORP) technology and its uses. The newly issued patent expires Nov. 24, 2035. U.S. Patent 10,088,466, entitled Determination of fertility potential from the oxidation-reduction potential of a biological sample, covers a method of determining characteristics of a semen sample via the measurement of static oxidation-reduction potential (sORP) of the semen sample from a subject in a specified ratio range of sORP to sperm concentration in a liquified semen sample. sORP, the diagnostic output of the MiOXSYS System and a direct measure of oxidative stress, serves as an aid in the diagnosis of male infertility in directly measuring oxidative stress in semen, the cause of DNA damage and a leading cause of male infertility. Josh Disbrow, chief executive officer of Aytu BioScience commented, "This patent issuance for the company's diagnostic platform is an important step in moving closer to U.S. commercialization and providing another approved, commercial-stage product to our established U.S. commercial infrastructure. This validation of our proprietaty oxidation-reduction potential technology helps to further unlock the potential of MiOXSYS and position it as a complement to Natesto as the second urology-centric product in our portfolio. As we advance MiOXSYS toward a 510k de novo clearance in the U.S., we continue to demonstrate very good progress outside the U.S. as MiOXSYS sales build." The global male infertility market is expected to reach $4.7 billion by 2025, and increasing infertility in men and advancements in diagnostic tests are expected to be key factors in driving this market growth. MiOXSYS is currently commercialized through a distribution network outside the U.S. and has been sold into 29 countries to date. The company is conducting clinical studies with U.S. collaborators in order to establish a U.S. specific regulatory clearance pathway with the FDA. MiOXSYS is CE Marked and is approved by Health Canada, the Australian TGA, and Mexico's COFEPRAS. The clinical utility and scientific validation of sORP have been demonstrated in 10 studies published to date. About Aytu BioScience Englewood, Colorado-based Aytu BioScience, Inc. (OTCMKTS:AYTU) -- http://www.aytubio.com/-- is a commercial-stage specialty healthcare company concentrating on developing and commercializing products with an initial focus on urological diseases and conditions. Aytu is currently focused on addressing significant medical needs in the areas of urological cancers, hypogonadism, urinary tract infections, male infertility, and sexual dysfunction. Aytu Bioscience reported a net loss of $10.18 million for the year ended June 30, 2018, compared to a net loss of $22.50 million for the year ended June 30, 2017. As of June 30, 2018, Aytu Bioscience had $21.06 million in total assets, $7.63 million in total liabilities and $13.42 million in total stockholders' equity. EKS&H LLLP, in Denver, Colorado, the Company's auditor since 2015, issued a "going concern" qualification in its report on the consolidated financial statements for the year ended June 30, 2018, citing that the Company has suffered recurring losses from operations and has an accumulated deficit that raise substantial doubt about its ability to continue as a going concern. Aytu BioScience received on April 9, 2018 a letter from The Nasdaq Stock Market LLC indicating that the Company has failed to comply with the minimum bid price requirement of Nasdaq Listing Rule 5550(a)(2). Nasdaq Listing Rule 5550(a)(2) requires that companies listed on the Nasdaq Capital Market maintain a minimum closing bid price of at least $1.00 per share. BARCORD INC: Disclosure Statement Hearing Set for Nov. 14 --------------------------------------------------------- Bankruptcy Judge Carol A. Doyle will convene a hearing on Nov. 14, 2018, at 10:30 a.m. to consider the adequacy of Barcord, Inc.'s disclosure statement filed on Oct. 2, 2018. In the event the disclosure statement is approved, the Court will immediately commence a hearing to consider whether to confirm the plan. Nov. 2, 2018 is fixed as the last day for filing and serving written objections to the adequacy of the Disclosure Statement or to confirmation of the Plan, and fixed as the last day for filing written acceptances or rejections of the Plan. The Troubled Company Reporter previously reported that Class 5 unsecured creditors will be (a) paid in full from the closing of a sale to Newco (and the proceeds therefrom) or (b) paid from any remaining proceeds of a Third-Party Sale (after the payment in full of the VSD Claim). The estimated amount of total unsecured claims is $18,646.69. A copy of the Disclosure Statement is available for free at: http://bankrupt.com/misc/ilnb18-14974-40.pdf About Barcord, Inc. Barcord, Inc., is a real estate company that has 100% ownership interest in a property located at 1648 West Kinzie St., Chicago, IL 60622 valued by the Company at $2.4 million. Barcord, Inc., sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ill. Case No. 18-14974) on May 23, 2018. In the petition signed by its president James Aitcheson, the Debtor disclosed $2.40 million total assets and $2.23 million total debts. Judge Carol A. Doyle presides over the case. Joshua D. Greene, Esq., of Springer Brown, LLC, serves as its counsel. BAYWAY HAND: Nov. 7 Plan Confirmation Hearing --------------------------------------------- Judge Michael B. Kaplan of the U.S. Bankruptcy Court for the District of New Jersey issued an order approving the disclosure statement explaining Bayway Hand Car Wash Corp.'s plan. October 26, 2018, is fixed as the last date for filing written objections to the confirmation of the Plan, and November 7, at 10:00 A.M., is fixed as the date of hearing of confirmation of the Plan. About Vazquez and His Companies Jose Louis Vazquez and four related entities, Bayway Hand Car Wash Corp., Harlem Hand Car Wash Corp., J.V. Car Wash Ltd. and Webster Hand Car Wash Corp., each filed a voluntary petition for reorganization under chapter 11 of title 11 of the United States Code (Bankr. D.N.J.) on Oct. 16, 2013. The Debtors' bankruptcy cases are being jointly administered pursuant to the Bankruptcy Court's Order dated Nov. 16, 2013. By order dated May 28, 2014, the Bankruptcy Court directed the appointment of a Chapter 11 trustee for the Debtors. Donald F. Conway serves as the Chapter 11 trustee for the Individual Debtor. Donald V. Biase serves as the Chapter 11 trustee for the Business Debtors. As of the Petition Date, each of the Business Debtors owned and operated a car wash facility at a different location in the New York metropolitan region and Vazquez was the 100 percent owner of the Business Debtors. During the course of the bankruptcy cases, the Business Debtors have ceased operating their car wash businesses. In August 2015, the Business Debtors' Trustee sold the car wash operations and real estate owned by Webster. In March 2016, the Business Debtors' Trustee closed the car wash operated by Harlem and the Vazquez Trustee sold the real estate owned by the Individual Debtor from which Harlem operated. In March 2017, the Business Debtors' Trustee closed the car wash operated by J.V. and the Vazquez Trustee began to market for sale the Broadway Property from which J.V. operate. The Vazquez Trustee: Donald F. Conway THE MERCADIEN GROUP 3625 quakerbridge Rd. Hamilton, NJ 08619 Counsel for the Vazquez Trustee: J. Alex Kress, Esq. BECKER, LLC 354 Eisenhower Parkway Plaza II, Suite 1500 Livingston, NJ 07039 Telephone: (973) 422-1100 E-mail: akress@becker.legal BDF ACQUISITION: Moody's Alters Outlook to Negative & Affirms CFR ----------------------------------------------------------------- Moody's Investors Service changed the ratings outlook for BDF Acquisition Corp.'s to negative from stable. Concurrently, Moody's affirmed the company's B2 Corporate Family Rating, B2-PD Probability of Default Rating and B2 senior secured term loan rating. The negative outlook reflects the risk that Bob's may not be able to adequately mitigate the negative earnings impact from US trade tariffs on Chinese furniture, which combined with ongoing traffic and margin pressures in the sector could result in sustained weakening of credit metrics. Moody's estimates that the initial tariff impact on material costs will be meaningful in the first half of 2018, but the company can mitigate it longer term by moving sourcing to other locations. Moody's took the following rating actions for BDF Acquisition Corp.: Corporate Family Rating, affirmed B2 Probability of Default Rating, affirmed B2-PD $257 million senior secured term loan due 2023, affirmed B2 (LGD 3) Outlook, changed to negative from stable RATINGS RATIONALE Bob's B2 CFR reflects the company's high financial risk and aggressive financial policies. The higher cost of goods as a result of the US trade tariff on Chinese imports could offset expected store expansion-driven earnings growth, resulting in Moody's-adjusted debt/EBITDA increasing to mid-5 times from low-5 times, and EBIT/interest expense declining to low-1 times from mid-1 times in the next 12-18 months. In addition, the rating reflects Bob's relatively small size, limited geographic presence and narrow product focus on the furniture category, which in Moody's view is facing increased competition. While overall liquidity is projected to be adequate, Moody's expects negative annual free cash flow in 2019, as a result of lower earnings and CapEx commitments for new store openings. The rating favorably reflects the strength of the company's "Bob's Discount Furniture" brand in the regions where it operates, and its value product positioning. Moody's believes that Bob's everyday low price offering provides a differentiating value proposition that would allow the company to grow through store expansion. The company's relatively low funded debt/EBITDA of around mid-3 times (based on EBITDA excluding items Moody's considers non-recurring but before a meaningful amount of lease adjustments) provides key underlying support for the rating. The ratings could be downgraded if comparable sales performance or new store profitability deteriorates, or the company does not adequately mitigate the negative impact from tariffs. Liquidity deterioration could also pressure the ratings. Quantitatively, the ratings could be downgraded with expectations of debt/EBITDA sustained above 6.0 times of EBIT/interest expense sustained below 1.5 times. A rating upgrade would require sustained growth in revenue and earnings resulting in debt/EBITDA of 4.5 times or lower, and EBIT/interest expense in excess of 2.0 times. An upgrade would also require greater regional diversification and scale, and demonstrated ability to maintain more conservative financial policies. The principal methodology used in this rating was Retail Industry published in May 2018. BDF Acquisition Corp., based in Manchester, Connecticut, was created to acquire a majority stake in Bob's Discount Furniture, a retailer of value-priced furniture with 99 stores located primarily in the Northeast, Mid-Atlantic, and Midwest states as of July 1, 2018. Revenue for the most recent twelve-month period was approximately $1.3 billion. The company has been majority-owned by private equity firm Bain Capital since 2014. BEAUTIFUL BROWS: Seeks to Hire Jason L. Pettie as Attorney ---------------------------------------------------------- Beautiful Brows, LLC, seeks authority from the U.S. Bankruptcy Court for the Northern District of Georgia to employ Jason L. Pettie, P.C., as attorney to the Debtor. Beautiful Brows requires Jason L. Pettie to: -- assist and provide legal services to the Debtor in connection with the Chapter 11 bankruptcy proceedings; and -- prepare the Debtor's petition and schedules and the first day motions. Jason L. Pettie will be paid at the hourly rate of $330. Jason L. Pettie will also be reimbursed for reasonable out-of-pocket expenses incurred. Jason L. Pettie, a partner at Jason L. Pettie, P.C., assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. Jason L. Pettie can be reached at: Jason L. Pettie, Esq. JASON L. PETTIE, P.C. P.O. Box 17936 Atlanta, GA 30316 Tel: (404) 638-5984 Fax: (404) 601-4983 E-mail: jasonpettie@gmail.com About Beautiful Brows Beautiful Brows LLC, based in Tucker, GA, filed a Chapter 11 petition (Bankr. N.D. Ga. Case No. 18-66766) on Oct. 3, 2018. In the petition signed by Saleema Delawalla (f/k/a Fnu Saleema), member, the Debtor estimated $100,000 to $500,000 in assets and $1 million to $10 million in liabilities. Jason L. Pettie, Esq., at Jason L. Pettie, P.C., serves as bankruptcy counsel. BELLA BAG: Proposed Plan to be Funded from Equity Investment ------------------------------------------------------------ Bella Bag, LLC, d/b/a Bella Bag Limited Liability Company, filed a disclosure statement in support of its plan of reorganization dated Oct. 5, 2018. Holders of General Unsecured Claims in Class 8 will share pro-rata in annual distributions of $2,500 each commencing on the 5th day of the 1st full month following the Effective Date and continuing on 5th day of the 1st full month following each subsequent anniversary of the Effective Date for a total of 5 annual payments. The source of funds for the payments pursuant to the Plan is the continued operation of Debtor's store as well as an equity investment upon confirmation of the Plan. A copy of the Disclosure Statement is available for free at: http://bankrupt.com/misc/ganb18-58840-67.pdf About Bella Bag Bella Bag, LLC -- https://www.bellabag.com/ -- is a privately held, Atlanta-based company that buys and sells pre-owned designer-label handbags like Chanel, Louis Vuitton, Dior, Gucci, Hermes and Prada. With authenticity as the cornerstone of the Bella Bag brand, in-house experts meticulously inspect each handbag for authenticity using the company's patent-pending 13-Step Authenticity Inspection. Bella Bag, LLC, based in Atlanta, GA, filed a Chapter 11 petition (Bankr. N.D. Ga. Case No. 18-58840) on May 30, 2018. In the petition signed by Cassandra Connors, managing member, the Debtor estimated $0 to $50,000 in assets and $1 million to $10 million in liabilities. The Hon. Barbara Ellis-Monro presides over the case. Cameron McCord, Esq., at Jones & Walden, LLC, serves as bankruptcy counsel. BJRP LLC: Seeks to Hire Dettelbach Sicherman as Attorney -------------------------------------------------------- BJRP, LLC, seeks authority from the U.S. Bankruptcy Court for the Northern District of Ohio to employ Dettelbach Sicherman & Baumgart LLC, as attorney to the Debtor. BJRP, LLC, requires Dettelbach Sicherman to: a. give the Debtor legal advice with respect to its powers and duties as Debtor-in-Possession and the continued operation of its business and management of its property; and in particular to assist the Debtor with its ongoing refinancing efforts; b. take necessary action to avoid and recover preferential payments from various creditors and former creditors of the Debtor, which occurred within ninety days prior to the filing of said Petition, under Chapter 11; c. represent the Debtor as Debtor-in-Possession in connection with the defense of any reclamation proceedings which may be instituted in this Court; d. prepare on behalf of Debtor as Debtor-in-Possession all pleadings and papers incidental to and necessary in prosecuting the Debtor's case under Chapter 11 of Title 11 of the United States Code; e. take necessary action to enjoin and stay any pending or commenced state court proceedings during the pendency of this action; f. prosecute all litigation that may be commenced by the Debtor; and g. perform all other legal services to the Debtor, as Debtor- in-Possession, which may be necessary herein. Dettelbach Sicherman will be paid based upon its normal and usual hourly billing rates. As of the commencement of the bankruptcy case under Chapter 11, the above-named counsel is holding $3,721 unapplied retainer for legal services, plus $1,7170 used for costs paid by credit card. Movant has been paid to date prior to filing during the past one year the sum of $15,283 plus $1,717 for court costs, i.e., an aggregate of $17,000, of which $3,721 has not been applied. Dettelbach Sicherman will also be reimbursed for reasonable out-of-pocket expenses incurred. Richard A. Baumgart, partner of Dettelbach Sicherman & Baumgart LLC, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. Dettelbach Sicherman can be reached at: Richard A. Baumgart, Esq. DETTELBACH SICHERMAN & BAUMGART LLC 55 Public Square, 21st Floor Cleveland, OH 44113-1902 Telephone: (216) 696-6000 About BJRP, LLC BJRP LLC, based in Beachwood, OH, filed a Chapter 11 petition (Bankr. Ohio Case No. 18-15839) on Sept. 28, 2018. The Hon. Arthur I. Harris presides over the case. Richard A. Baumgart, Esq., at Dettelbach Sicherman & Baumgart LLC, serves as bankruptcy counsel. In the petition signed by CEO Brad Friedlander, the Debtor disclosed $442,000 in assets and $3,502,443 in liabilities. BNEVMA LLC: Deutsche Bank to be Paid $275K at 7% Over 30 Years -------------------------------------------------------------- BNEVMA, LLC, filed with the U.S. Bankruptcy Court for the Southern District of Florida an amended plan of reorganization. Class 5 under the amended plan consists of the Allowed Secured Claims of Deutsche Bank as it relates to the Dupont WPB Property, which is secured by a first position mortgage on the Dupont WPB Property. The mortgage borrower is Irlande M. Vertilus. Deutsche Bank filed a claim in the amount of $422,890.48. The Debtor estimates the value of the Dupont WPB Property is $275,000. Deutsche Bank's Claim relating to the Dupont WPB Property will be bifurcated into an Allowed Secured Claim in the amount of $275,000 instead of the $332,000 provided in the previous plan, with the balance of $147,890.48 to be treated as a general unsecured claim. Except to the extent that the holder of the Allowed Class 5 Claim has been paid prior to the Effective Date or agrees to a different treatment, the Class 5 Claimholder will be paid the Secured Class 5 Amount over a period of 30 years, fully amortized, at an annual interest rate of 7%, for a monthly payment of $1,829.58, commencing on the first of the month following the Effective Date. A copy of the Amended Plan is available for free at: http://bankrupt.com/misc/flsb18-13392-131.pdf About BNEVMA LLC BNEVMA, LLC, a real estate lessor, is the fee simple owner of 14 real estate properties (consisting of condominium units and townhouses) in Wellington, Palm Beach Gardens, Boynton Beach, Lake Forth, Boca Raton, North Palm Beach, Royal Palm Beach, Florida, having an aggregate value of $2.71 million. BNEVMA sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 18-13392) on March 23, 2018. In the petition signed by Nermine Hanna, manager, the Debtor disclosed $2.71 million in assets and $4.01 million in liabilities. Judge Paul G. Hyman, Jr., presides over the case. The Debtor tapped Furr and Cohen, P.A., as its legal counsel. No official committee of unsecured creditors has been appointed in the Chapter 11 case. On April 24, 2018, the Debtor filed a disclosure statement in support of its proposed Chapter 11 plan of reorganization. BURRELL CONSTRUCTION: U.S. Trustee Unable to Appoint Committee -------------------------------------------------------------- The Office of the U.S. Trustee on Oct. 2 disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of Burrell Construction and Apartments LLC. About Burrell Construction and Apartments Burrell Construction and Apartments LLC, filed a Chapter 11 bankruptcy petition (Bankr. C.D. Ill. Case No. 18-90883) on Sept. 4, 2018, estimating under $1 million in assets and liabilities. The Debtor is represented by Richard S Ogibovic, II, Esq. CAJ SOUTHWAY: Full Payment for Unsecured Creditors Over 24 Months ----------------------------------------------------------------- CAJ Southway Plaza LLC submits a disclosure statement with respect to its chapter 11 plan of reorganization dated Oct. 5, 2018. The Debtor is a single asset real estate limited liability company that owns and operates an approximately 106,000 square foot retail shopping center in Fall River, Massachusetts known as Southway Plaza (the "Property"). Southway Plaza has approximately 12 retail tenants, including Cardi’s, Domino's, and The Threading Place. Ocean State Job Lot is subject to a Lease through 2020 and continues to pay rent, but has recently vacated. Under the Plan, the Debtor will sell the Property to Lykos Properties, LLC, whose sole member is the son of the current owner of the Debtor. The purchase price will be sufficient to pay the secured creditors in full, in cash, on the Effective Date, whether or not the Debtor is successful in reducing their claims as part of the claim objection process. The buyer will also assume the unsecured debt, and pay it in full, in equal monthly installments over 24 months. The sale of the shopping plaza is subject to financing to be provided by The Cape Cod Cooperative Bank. On the Effective Date, the Debtor will commence making payments under the Plan and according to the Budget. All property of the Debtor will be vested in the Debtor free and clear of any claims, liens and encumbrances, except for the liens granted hereunder or to be retained under the Plan. A full-text copy of the Disclosure Statement is available for free at: http://bankrupt.com/misc/mab18-12631-49.pdf About CAJ Southway Plaza CAJ Southway Plaza, LLC, is a single asset real estate limited liability company that owns and operates Southway Plaza, a 106,000-square-foot retail shopping center located at 340-400 Rhode Island Boulevard, Fall River, Massachusetts. CAJ Southway Plaza sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Mass. Case No. 18-12631) on July 10, 2018. At the time of the filing, the Debtor estimated assets of $1,000,001 to $10 million and liabilities of $1 million to $10 million. Judge Joan N. Feeney presides over the case. CALUMET SPECIALTY: Fitch Assigns 'B-' LongTerm IDR, Outlook Stable ------------------------------------------------------------------ Fitch Ratings has assigned Calumet Specialty Products Partners, L.P. (Calumet; NASDAQ: CLMT) a Long-Term Issuer Default Rating (IDR) of 'B-'. Fitch has also assigned a 'BB-'/'RR1' rating to Calumet's senior secured revolving credit facility and FILO facility and a 'B-'/'RR4' rating to the senior unsecured notes. The Rating Outlook is Stable. Calumet's ratings are supported by the improvements to the company's credit profile over the past 18 to 24 months. These improvements include several credit-friendly self-help steps that have enabled the company to delever, including suspending distributions in April 2016 and the repayment of $400 million of senior secured notes in 2Q'18 with the proceeds from asset divestitures. Fitch projects the company will see a stronger FCF profile through 2021 due in part to Fitch's expectation of favourable market refining conditions, specifically in regard to WCS discount to WTI and IMO 2020, which should help lead to gross leverage below 5.0x by 2020. However, Calumet's fuel products segment remains levered to commodity and refined products prices, and the company has a maturity wall approaching in 2021. Additionally, the company's implementation of its new ERP systems remain in the works, though these improvements should ultimately provide long-term benefits to operations and help expand and improve durability of consolidated EBITDA margins. KEY RATING DRIVERS Credit-Friendly Delevering: Fitch projects Calumet will see its gross leverage drop below 5.0x by 2020, from 13.7x at Dec. 31, 2016. This delevering is due in large part to several credit friendly self-help steps the company has taken in the past two years. Calumet suspended distributions in April 2016; repaid the $400 million outstanding of senior secured notes in 2Q'18 with the proceeds from asset divestitures; and has made investments in improving the efficiency of its operations, such as instituting a new ERP system. Fitch believes management will look to divest additional fuel products assets to aide in its deleveraging and transition towards a more specialized profile. Fitch views Calumet's Great Falls facility as a likely divestiture candidate due to the refinery's attractive medium-term economics -- its crude is linked to WCS yet its refined products sell at U.S. market prices. Fitch believes this optionality, along with generally strong performance across both of Calumet's business segments, will help the company maintain a gross leverage ratio likely between 4.5x to 5.0x over the long term. Stable Specialty Products Segment: Fitch views Calumet's specialty products segment, which the company considers its core business, as providing stable and predictable cash flows that offset the volatility of the company's fuel products segment. The segment benefits from specialized product offerings that provide value to customers, have relatively strong brand recognition and generally serve niche end-markets. Consequently, gross profit margins have remained around 25% to 27%, and segment EBITDA has not dropped below $185 million, even when oil prices started declining in 2015. Calumet's long-term strategy is to shift more of its portfolio towards these more specialized products and away from its fuel products segment in order reduce its cash flow variability, which has contributed to the company's pressured credit profile in the past few years. Favourable Refining Market Conditions: Calumet's fuel products business has seen improved results that started with the recovery in crack spreads and should continue with favourable developments, such as the continued WCS-WTI discount and IMO 2020. The company's Great Falls facility buys crude at prices linked to WCS, which leads to increased margins when the WCS-WTI spread is wide. Fitch projects the refinery will continue to experience favourable economics over the medium term due to infrastructure constraints and pipeline delays in Canada. IMO 2020, which is expected to significantly increase demand for diesel fuel as a result of new regulatory standards, should provide further earnings uplift at Great Falls and Calumet's other fuel products facilities. As a result of these developments, Fitch projects the fuel products segment will see EBITDA of $100 million to $125 million through 2021. Improving FCF Profile: Fitch projects Calumet will generate more consistent, positive FCF of between $50 million to $100 million on average through 2021. Though the company has been consistently FCF negative over the last four years, this has largely been due to the over $200 million in distributions the company paid in 2014 and 2015 as a result of its MLP structure. The negative FCF of 2016 was due to the drop in the price of oil, while 2017's negative FCF was almost entirely due to a significantly negative working capital swing as crack spreads recovered. Fitch does not forecast working capital being as much of a drag on FCF due to improved working capital management via the new ERP system and the November 2017 divestitures, which consisted of the sale of the oilfield services segment and the Superior refinery. The Oilfield Services segment had negative EBITDA in both 2015 and 2016, while the Superior refinery was the largest among Calumet's fuel products refineries at 45,000 bpd of capacity. The elimination of these two businesses and the trend towards more specialized products should help stabilize Calumet's FCF profile and improve its financial flexibility. Volatility in Fuel Products Remains: Calumet remains levered to swings in oil prices and crack spreads through its remaining fuel products facilities. As a result, the company must maintain availability under its revolving credit facility simply to absorb quarterly working capital swings. While this risk has lessened with the shift towards specialty products and wider refining crack spreads, a return to an unfavourable oil environment approximating 2016 -- when Calumet generated ($10) million of EBITDA in the fuel products segment -- would likely still exert considerable negative pressure on Calumet's business profile and its resulting credit ratings. Maturity Wall Starting in 2021: Calumet has $900 million in senior unsecured notes that come due in 2021 and over $650 million in aggregate of senior unsecured notes coming due in 2022 and 2023. Fitch believes Calumet's improving credit profile, forecasted positive FCF generation, improving liquidity position, and favourable market conditions, lessens refinancing risk and should allow the company to address these upcoming maturities through a combination of debt repayment and new debt issuances. DERIVATION SUMMARY At 6.6x, Calumet's current leverage is much higher than SK Blue Holdings LP's (B/Stable), but its forecasted deleveraging to below 5.0x by 2020 is comparable to the leverage forecast for SK Blue (below 5.0x by 2021). However, SK Blue's cash flow profile, along with that of many specialty chemical peers, is far less reliant on commodity price movements and therefore less volatile, supporting its 'B' Long-Term IDR. As Calumet increasingly focuses on its specialty segment and reduces its commodity exposure and debt levels, the company would likely see its credit and operating profile fall more in line with SK Blue. KEY ASSUMPTIONS Fitch's Key Assumptions Within Its Rating Case for the Issuer -- Sales moderately flat; -- Crack spreads and capture rates revert to the historical mean, IMO 2020 takes effect; -- Product volumes exhibit their usual seasonality in 2018 and grow in line with GDP thereafter, with the exception of branded specialty products, which realize growth greater than GDP to reflect the focus on this segment; -- Capital spending between $85 million to $105 million throughout the forecast period; -- Successful implementation of better inventory management systems result in working capital improvement; -- A majority of the 2021 notes are refinanced, with the remainder repaid; -- No asset sales or distributions during the forecast period. Recovery Assumptions Fitch's recovery analysis assumed a hypothetical bankruptcy scenario in which adverse movement in crack spreads and/or extended operational issues drives Calumet into financial distress and prevents it from refinancing/repaying the $900 million unsecured notes due 2021. Fitch used a going concern approach, with the assumptions detailed here: -- Fitch assumed a going-concern EBITDA of approximately $220 million for Calumet on a consolidated basis. This EBITDA estimate is a combination of a $150 million EBITDA for the specialty products segment and a $70 million EBITDA for the fuel products segment. The segment EBITDA for the specialty segment reflects its historical margin stability and more specialized products. The EBITDA estimate for fuel products takes into account the favourable economics of the Great Falls facility as well as the upcoming tailwinds from IMO 2020 that combined would likely lead to more favourable post-bankruptcy earnings for the fuel products segment as compared to 2016, when adverse market conditions lead to the segment generating negative EBITDA. -- Fitch used a GC enterprise value (EV) multiple of 6.0x for Calumet's specialty segment. Bankruptcies of specialized chemical companies are rare due to the relative stability of their cash flows. However Fitch believes that a highly specialized chemical company, which Fitch usually defines, all else equal, as a chemical company with EBITDA margins around 20% or greater, could see a post-bankruptcy multiple as high as the mid-single digits. A more commoditized chemical company, which is generally a company with EBITDA margins closer to 10%, would likely see a multiple of around 5.0x. Calumet's mid-teens EBITDA margins put it right in the middle of that general range and support Fitch's 6.0x multiple assumption. -- For the fuel products segment, Fitch used a lower multiple of 5x. This reflects the relative uncertainty of the segment's cash flows due to its commodity price exposure and is within the general 4x to 6x sales multiple refineries have generally realize in an asset sale. These assumptions result in a going concern enterprise value for the company of $1,250 million. After administrative claims of 10%, there is approximately $1,125 million available to creditors. The senior secured revolver is expected to be drawn at less than currently available borrowing base due to Fitch's expectation that this amount would likely reduce as Calumet approaches bankruptcy, especially since the borrowing base is recalculated monthly and influenced by commodity prices. Fitch's recovery analysis also includes Calumet's inventory financing obligations. The ABL, FILO and inventory financing arrangement, which are each subject to a working-capital linked borrowing base and are well collateralized, see an expected recovery of 100%. These secured obligations are followed by the unsecured notes, which receive the remaining proceeds and recover 44% for an 'RR4' rating. RATING SENSITIVITIES Developments That May, Individually or Collectively, Lead to Positive Rating Action -- Successful transition towards speciality products leading to more consistency in gross profit margins and an improved FCF profile; -- Gross leverage sustained at or below 4.5x. Developments That May, Individually or Collectively, Lead to Negative Rating Action -- Pressured market conditions in the fuel products segment leading to increased volatility in margins, a negative FCF profile, and/or a weaker liquidity position; -- Inability to generate FCF as projected in Fitch's Rating Case leading to a weaker liquidity position and enhanced refinance risk; -- FFO Interest Coverage sustained below 1.5x. The sensitivities are reflective of Calumet's current cash flow profile, which is inclusive of its fuel products segment. Should the company continue its transition towards a more specialized asset profile, Fitch would likely adjust its positive and negative sensitivities accordingly. LIQUIDITY Strengthening Liquidity Position: Calumet should see its liquidity position strengthen over the forecast horizon due to strong FCF generation and a revolving credit facility that should remain undrawn. As an MLP, Calumet typically holds only a nominal amount of cash on the balance sheet. However, Fitch projects cash holdings will expand over the coming years in advance of the company's 2021 notes maturity. At June 30, 2018, there was $342.7 available under the revolver's $373.6 million borrowing base. Maturity Profile: In February 2018, Calumet extended the maturity of its revolver to February 2023. The company's senior unsecured notes are due in 2021, 2022, and 2023. FULL LIST OF RATING ACTIONS Calumet Specialty Products Partners, L.P. -- Long-Term IDR 'B-'; -- Senior secured revolving credit facility and FILO facility 'BB-'/'RR1'; -- Senior unsecured notes 'B-'/'RR4'. The Rating Outlook is Stable. CARLOS MIGUELS: Seeks to Hire Buechler & Garber as Counsel ---------------------------------------------------------- Carlos Miguels of Littleton, LLC, seeks authority from the U.S. Bankruptcy Court for the District of Colorado to employ Buechler & Garber, LLC, as counsel to the Debtor. Carlos Miguels requires Buechler & Garber to: a. provide the Debtor with legal advice with respect to their powers and duties; b. aid the Debtor in the development of a plan of reorganization under Chapter 11; c. file the necessary petitions, pleadings, reports, and actions which may be Chapter 11; d. take necessary actions to enjoin and stay until final decree herein continuation of pending proceedings and to enjoin and stay until final decree herein commencement of lien foreclosure proceedings and all matters as may be provided under the bankruptcy code; and e. perform all other legal services for the Debtor which may be necessary herein. Buechler & Garber will be paid based upon its normal and usual hourly billing rates. Buechler & Garber was paid a retainer by the Debtor in the amount of $5,065. The Debtor paid prepetition fees and costs, including the filing fee, in the amount of $4,152. Buechler & Garber will also be reimbursed for reasonable out-of-pocket expenses incurred. Aaron A. Garber, partner of Buechler & Garber, LLC, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. Buechler & Garber can be reached at: Aaron A. Garber, Esq. BUECHLER & GARBER, LLC 999 18th Street, Suite 1230S Denver, CO 80202 Telephone: (720) 381-0045 Facsimile: (720) 381-0382 E-mail: aaron@bandglawoffice.com About Carlos Miguels of Littleton Carlos Miguels of Littleton, LLC, filed a Chapter 11 bankruptcy petition (Bankr. D. Colo. Case No. 18-18488) on Sept. 28, 2018, disclosing under $1 million in both assets and liabilities. The Debtor hired Buechler & Garber, LLC, as counsel. CHADHAM HOMEOWNERS: Plan Outline Okayed, Plan Hearing on Nov. 28 ---------------------------------------------------------------- The U.S. Bankruptcy Court for the Middle District of Florida is set to hold an evidentiary hearing on Nov. 28 to consider final approval of the disclosure statement filed by Chadham By The Sea Homeowners Association, Inc. in support of its proposed Chapter 11 plan of reorganization. If the court determines that the disclosure statement contains "adequate information," it will conduct a hearing on confirmation of the plan. The court on Oct. 4 conditionally approved the company's disclosure statement, allowing it to start soliciting votes from creditors. The order required creditors to file their objections and submit ballots of acceptance or rejection of the plan no later than seven days before the hearing. About Chadham By The Sea Homeowners Chadham By The Sea Homeowners Association, Inc. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 17-00520) on January 27, 2017. At the time of the filing, the Debtor estimated assets of less than $100,000 and liabilities of less than $1 million. The case is assigned to Judge Karen S. Jennemann. James H. Monroe, P.A. represents the Debtor as bankruptcy counsel. Cole & Associates, LLC, serves as the Debtor's accountant. CHASTAIN PARK: Seeks to Hire Robl Law Group as Counsel ------------------------------------------------------ Chastain Park Condominium Association, Inc., filed an amended application with the U.S. Bankruptcy Court for the District of Georgia seeking approval to hire Robl Law Group, LLC, as counsel. Chastain Park requires Robl Law to assist the Debtor and provide legal services in connection with the Chapter 11 bankruptcy proceedings. Robl Law will be paid based upon its normal and usual hourly billing rates. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Michael D. Robl, partner of Robl Law Group, LLC, assured the Court that the firm is a "disinterested person" as the term is defined in Sec. 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. Robl Law can be reached at: Michael D. Robl, Esq. ROBL LAW GROUP, LLC 3754 Lavista Road, Suite 250 Tucker, GA 30084 Telephone: (404) 373-5153 Facsimile: (404) 537-1761 E-mail: michael@roblgroup.com About Chastain Park Condominium Association Chastain Park Condominium Association, Inc., is a not for profit corporation that operates the condominium association for a 110-unit condominium project off of Roswell Road, Atlanta, Georgia. CPCA filed a Chapter 11 petition (Bankr. N.D. Ga. Case No. 18-58826) on May 29, 2018. In the petition signed by Anne Stite, authorized representative, CPCA estimated $50,001 to $100,000 in assets and $100,001 to $500,000 in liabilities as of the bankruptcy filing. CPCA is represented by Michael D. Robl, Esq. of Robl Law Group LLC. COMMUNITY CHOICE: Seeking to Identify 'Accredited Investor' Holders ------------------------------------------------------------------- Community Choice Financial Inc. is seeking to identify holders of the Company's 10.75% senior secured notes due May 1, 2019 (CUSIP: 20367QAB3 and 20367QAE7) who are "accredited investors" within the meaning of United States securities laws. The Company requests that any holder of the 2019 Notes that is an accredited investor contact the Company's advisor, Ducera Partners at 212-671-9717, by end of day Friday, Oct. 12, 2018. As previously announced by Community Choice on a Form 8-K filed on Sept. 6, 2018, in connection with the refinancing, the Company entered into certain agreements that require that it execute a deleveraging transaction on or before Nov. 30, 2018. About Community Choice Financial Dublin, Ohio-based Community Choice Financial Inc. -- http://www.ccfi.com/-- is a retailer of financial services to unbanked and underbanked consumers through a network of 476 retail storefronts across 12 states and are licensed to deliver similar financial services over the internet in 30 states. CCFI focuses on providing consumers with a wide range of convenient financial products and services to help them manage their day-to-day financial needs including consumer loans, check cashing, prepaid debit cards, money transfers, bill payments, and money orders. Community Choice incurred a net loss of $180.9 million in 2017, compared to a net loss of $1.54 million in 2016. As of June 30, 2018, the Company had $186.48 million in total assets, $407.56 million in total liabilities and a total stockholders' deficit of $221.08 million. * * * As reported by the TCR on April 19, 2018, S&P Global Ratings said it lowered its issuer credit rating on Community Choice Financial to 'CC' from 'CCC'. The outlook is negative. S&P said, "The downgrade follows the company's amended revolver and subsidiary note payable on March 30, 2018 -- both of which require CCFI to make a proposal to restructure its senior secured notes, which, if completed, we would likely view as a selective default." As reported by the TCR on Sept. 10, 2018, Moody's Investors Service affirmed Community Choice Financial Inc.'s Caa3 corporate family. Moody's said Community Choice's Caa3 corporate family reflects its unsustainable capital structure with large amounts of debt and substantial equity deficit, weak financial performance, constrained liquidity, and also high regulatory risk. CORMICAN'S INC: Case Summary & 15 Unsecured Creditors ----------------------------------------------------- Debtor: Cormican's Inc. 14405 Maple Inn Road SE Mentor, MN 56736 Business Description: Cormican's Inc. is a road contractor serving the Northwest Minnesota area. Chapter 11 Petition Date: October 10, 2018 Case No.: 18-60636 Court: United States Bankruptcy Court District of Minnesota (Fergus Falls) Judge: Hon. Michael E. Ridgway Debtor's Counsel: Kevin T. Duffy, Esq. DUFFY LAW OFFICE 1008 W 2nd St PO Box 715 Thief River Falls, MN 56701 Tel: 218-681-8524 Fax: 218-681-8525 E-mail: duffylaw@mncable.net Estimated Assets: $100,000 to $500,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Sandra Cormican, president. A full-text copy of the petition containing, among other items, a list of the Debtor's 15 unsecured creditors is available for free at: http://bankrupt.com/misc/mnb18-60636.pdf CRT RECOVERY: Oct. 31 Hearing on Disclosure Statement ----------------------------------------------------- The hearing to consider approval of the disclosure statement explaining CRT Recovery, Inc.'s plan is set for October 31, 2018, at 10:00 A.M. The Debtor is formerly known as Creeper Recovery & Towing. Deadline for objections to disclosure statement is October 24. About CRT Recovery Inc. CRT Recovery, Inc., sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 18-15248) on May 1, 2018. At the time of the filing, the Debtor estimated assets of less than $50,000 and liabilities of less than $50,000. Judge Raymond B. Ray presides over the case. Chad Van Horn, Esq., at law firm of Van Horn Law Group, Inc., is the Debtor's counsel. No official committee of unsecured creditors has been appointed in the Chapter 11 case of CRT Recovery, Inc. as of August 20, according to a court docket. DELMAC LLC: Oct. 12 Plan Confirmation Hearing --------------------------------------------- Judge James J. Tancredi of the U.S. Bankruptcy Court for the District of Connecticut issued an order approving the second amended disclosure statement explaining Delmac, LLC's plan. October 10, 2018, is fixed as the last date for filing written objections to the confirmation of the Plan, and October 12, at 11:00 A.M., is fixed as the date of hearing of confirmation of the Plan. About Delmac LLC Based in Jewett City, Connecticut, Delmac, LLC, specializes in non-residential building construction business. Delmac sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Conn. Case No. 17-21848) on Dec. 4, 2017. In the petition signed by Gregory T. Mackin, its managing member, the Debtor estimated assets of less than $1 million and liabilities of $1 million to $10 million. The Law Offices of Ronald I. Chorches LLC is the Debtor's legal counsel. DORIAN LPG: Responds to BW's Withdrawal of Merger Proposal ---------------------------------------------------------- Dorian LPG sent the following letter to Andreas Sohmen-Pao, Chairman of the Board of Directors of BW LPG, responding to BW's withdrawal of its proposal to acquire Dorian: October 8, 2018 Mr. Andreas Sohmen-Pao Chairman of the Board of Directors BW LPG Limited 10 Pasir Panjang Road # 17-02 Mapletree Business City Singapore 117438 Dear Andreas, Thank you for sending us your letter, dated today, withdrawing your proposal and the slate of directors you nominated in support of that proposal. As you know, but failed to note in your letter, we extensively engaged with your team over the past few months. In addition to our initial meeting and your presentation to our Board, two weeks ago we had a meeting that lasted multiple hours (with your and our advisors) where we extensively commented on your proposal and indicated the valuation parameters implied by a fair assessment of both companies. In particular, your proposal: * Undervalued our company on a relative Net Asset Value basis as your calculations overvalue your older, less fuel- efficient vessels and undervalue our young, fuel-efficient vessels * Unlike precedent transactions, did not provide a premium to NAV * Significantly increased risk though high leverage * Was highly dilutive to cash flow * Imposed the burden of BW's IMO 2020 compliance and BWTS capital expenditures on Dorian LPG shareholders To explore the full range of value-creating opportunities available to Dorian LPG, we asked several times if you could improve your proposal, and left the door open to further discussion and a response to the issues that we outlined in our latest meeting. Instead, you have refused to consider improving your proposal and, most recently, have withdrawn your proposal. Dorian LPG's Board, whose members beneficially own more than 25% of Dorian LPG's stock, and Dorian LPG's management are singularly focused on maximizing value for our shareholders. Sincerely, John Hadjipateras Chairman, President and Chief Executive Officer About Dorian LPG Stamford, Connecticut-based Dorian LPG Ltd. -- http://www.dorianlpg.com/-- is a liquefied petroleum gas shipping company and an owner and operator of modern very large gas carriers ("VLGCs"). Dorian LPG's fleet currently consists of twenty-two modern VLGCs. Dorian LPG has offices in Stamford, Connecticut, USA, London, United Kingdom and Athens, Greece. Dorian LPG reported a net loss of US$20.40 million for the year ended March 31, 2018, compared to a net loss of US$1.44 million for the year ended March 31, 2017. As of June 30, 2018, Dorian LPG had US$1.70 billion in total assets, US$761.83 million in total liabilities and US$939.31 million in total shareholders' equity. DPW HOLDINGS: Will Issue $565,000 Note and 400,000 Shares --------------------------------------------------------- DPW Holdings, Inc., entered into a securities purchase agreement with a certain institutional investor on Oct. 11, 2018, providing for the issuance of (i) an Original Issue Discount Promissory Note in the principal face amount of $565,000 due Dec. 8, 2018, for a purchase price of $510,000, and (ii) 400,000 shares of common stock to be issued by the Company, subject to approval of the NYSE American. The issuance of the Commitment Shares will be made pursuant to the Company's effective "shelf" registration statement on Form S-3 and an accompanying base prospectus (Registration Statement No. 333-222132) filed with the Securities and Exchange Commission on Dec. 18, 2017, amended on Jan. 8, 2018, and declared effective by the SEC on Jan. 11, 2018. The Company will file a prospectus supplement to such registration statement on Form S-3 to register the Commitment Shares under the Securities Act of 1933, as amended, within 10 days after the approval of the NYSE American. Original Issue Discount Promissory Note The Note has a principal face amount of $510,000 for a purchase price of $565,000. Pursuant to the Note, the Company will pay interest in the amount of $27,500 on Dec. 8, 2018. The Note contain standard and customary events of default including, but not limited to, failure to make payments when due under the Note, failure to comply with certain covenants contained in the Note, or bankruptcy or insolvency of the Company. So long as no Event of Default (as defined in the Note) exists, upon 10 days written notice to the Investors, the Company may prepay the full outstanding principal and accrued and unpaid interest at any time without penalty. If the Note is not paid in full on the Maturity Date, the principal which remains due, plus the unpaid interest, if any, shall bear interest from the Maturity Date at the rate of 18% per annum until paid. About DPW Holdings Headquartered in Fremont, California, DPW Holdings, Inc., formerly known as Digital Power Corp. -- http://www.DPWHoldings.com/-- is a diversified holding company that, through its wholly owned subsidiary, Coolisys Technologies, Inc., is dedicated to providing technology-based solutions where innovation is the main driver for mission-critical applications and lifesaving services. Through its wholly owned subsidiaries and strategic investments, the company provides mission-critical products that support a diverse range of industries, including defense/aerospace, industrial, telecommunications, medical, crypto-mining, and textiles. DPW Holdings incurred a net loss of $10.89 million in 2017 following a net loss of $1.12 million in 2016. As of June 30, 2018, DPW Holdings had $53.44 million in total assets, $21.90 million in total liabilities and $31.53 million in total stockholders' equity. The report from the Company's independent accounting firm Marcum LLP, in New York, on the consolidated financial statements for the year ended Dec. 31, 2017, includes an explanatory paragraph stating that the Company has a significant working capital deficiency, has incurred significant losses and needs to raise additional funds to meet its obligations and sustain its operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern. ENERGY GUARD: Committee Seeks to Hire Eron Law as Counsel --------------------------------------------------------- The Official Committee of Unsecured Creditors of Energy Guard Midwest, LLC, seeks authorization from the U.S. Bankruptcy Court for the District of Kansas to retain Eron Law, P.A., as counsel to the Committee. The Committee requires Eron Law to: a) advise the Committee of their rights, powers and duties as Committee; b) advise the Committee concerning and assisting in the negotiation and documentation of financing agreements, cash collateral orders and related transactions; c) investigate and advise the Committee concerning and taking such action as may be necessary to collect payment in accordance with applicable law; d) prepare on behalf of the Committee such applications, motions, pleadings, orders, notices, schedules and other documents as may be necessary and appropriate, and review the financial and other reports to be filed herein; e) advise the Committee concerning and preparing responses to applications, motions, pleadings, notices and other documents which may be filed and served herein; f) counsel the Committee in connection with the formulation, negotiation and promulgation of Chapter 11 plan or plans and related documents; and g) perform such other legal services for and on behalf of the Committee as may be necessary or appropriate in the administration of the case. Eron Law will be paid at these hourly rates: Attorneys $100 to $300 Paralegals $85 Eron Law will also be reimbursed for reasonable out-of-pocket expenses incurred. David Prelle Eron, partner of Eron Law, P.A., assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. Eron Law can be reached at: David Prelle Eron, Esq. ERON LAW, P.A. 229 E. William, Suite 100 Wichita, KS 67202 Tel: (316) 262-5500 Fax: (316) 262-5559 E-mail: david@eronlaw.net About Energy Guard Midwest Energy Guard Midwest, LLC, sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Kan. Case No. 18-11070) on June 4, 2018. At the time of the filing, the Debtor estimated assets of less than $50,000 and liabilities of less than $1 million. Judge Dale L. Somers presides over the case. Mark J. Lazzo, Esq., at Landmark Office Park, is the Debtor's legal counsel. The Office of the U.S. Trustee on Aug. 27, 2018, appointed the official committee of unsecured creditors in the Chapter 11 case. The Committee retained Eron Law, P.A., as counsel. F.Y.P.M. HOLDING: Hires Briante Realty as Real Estate Broker ------------------------------------------------------------ F.Y.P.M. Holding Inc. seeks authority from the U.S. Bankruptcy Court for the Southern District of New York to employ Briante Realty, LLC, as real estate broker to the Debtor. F.Y.P.M. Holding requires Briante Realty to market and sell the Debtor's residential real property located at 728 Route 6, Mahopac, NY 10541-1689. Briante Realty will be paid a commission of 6% of the sales price. Angela Briante, a partner at Briante Realty, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. Briante Realty can be reached at: Angela Briante BRIANTE REALTY, LLC 16 Fair St. Carmel Hamlet, NY 10512 Tel: (845) 225-2020 About F.Y.P.M. Holding F.Y.P.M. Holding Inc., based in Lincolndale, NY, filed a Chapter 11 petition (Bankr. S.D.N.Y. Case No. 18-12125) on July 13, 2018. In the petition signed by Pasqualina Maffucci, vice president, the Debtor disclosed $702,964 in assets and $1,871,996 in liabilities. The Hon. Sean H. Lane presides over the case. Barak P. Cardenas, Esq., at Cardenas Islam & Associates, PLLC, serves as bankruptcy counsel. F.Y.P.M. HOLDING: Seeks to Hire RS Goldman as Accountant -------------------------------------------------------- F.Y.P.M. Holding Inc. seeks authority from the U.S. Bankruptcy Court for the Southern District of New York to employ RS Goldman Accounting, Tax & Consulting, as accountant to the Debtor. F.Y.P.M. Holding requires RS Goldman to: -- prepare and file the tax returns for the year 2018; -- prepare and file the monthly operating report; -- prepare any tax returns necessary to satisfy the estate's obligations in the bankruptcy case. RS Goldman will be paid based upon its normal and usual hourly billing rates. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Richard Goldman, partner of RS Goldman Accounting, Tax & Consulting, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. RS Goldman can be reached at: Richard Goldman RS GOLDMAN ACCOUNTING, TAX & CONSULTING 107 Mill Plain Road, Suite 205 Danbury, CT 06811 Tel: (203) 778-8340 About F.Y.P.M. Holding F.Y.P.M. Holding Inc., based in Lincolndale, NY, filed a Chapter 11 petition (Bankr. S.D.N.Y. Case No. 18-12125) on July 13, 2018. In the petition signed by Pasqualina Maffucci, vice president, the Debtor disclosed $702,964 in assets and $1,871,996 in liabilities. The Hon. Sean H. Lane presides over the case. Barak P. Cardenas, Esq., at Cardenas Islam & Associates, PLLC, serves as bankruptcy counsel. FAYETTE MEMORIAL: Case Summary & 20 Largest Unsecured Creditors --------------------------------------------------------------- Debtor: Fayette Memorial Hospital Association, Inc. dba Fayette Regional Health System 1941 Virginia Ave. Connersville, IN 47331 Business Description: Founded in 1913, Fayette Memorial Hospital Association, Inc. is a multi-faceted health care organization located in the heart of Connersville, Indiana. Fayette Regional offers ambulatory care, cancer care, care pavilion, dermatology, diagnostic imaging, emergency care, express care, facial and cosmetic procedures, hospice care, laboratory services, pediatrics, physical therapy and rehabilitation, among other services. For more information, visit https://www.fayetteregional.org. Chapter 11 Petition Date: October 10, 2018 Court: United States Bankruptcy Court Southern District of Indiana (Indianapolis) Case No.: 18-07762 Judge: Hon. Jeffrey J. Graham Debtor's Counsel: Wendy D. Brewer, Esq. FULTZ MADDOX DICKENS, PLC 333 N. Alabama Street, Suite 350 Indianapolis, IN 46204 Tel: 317-215-6220 E-mail: wbrewer@fmdlegal.com - and - Laura MinSun Brymer, Esq. FULTZ MADDOX DICKENS, PLC 101 S. Fifth Street, Ste. 2700 Louisville, KY 40202 Tel: 502-588-2000 E-mail: lbrymer@fmdlegal.com - and - Phillip Alan Martin, Esq. FULTZ MADDOX DICKENS, PLC 101 South Fifth Street, 27th Floor Louisville, KY 40202 Tel: 502-588-2000 E-mail: pmartin@fmdlegal.com Estimated Assets: $10 million to $50 million Estimated Liabilities: $10 million to $50 million The petition was signed by Randall White, chief executive officer. A full-text copy of the petition is available for free at: http://bankrupt.com/misc/insb18-07762.pdf List of Debtor's 20 Largest Unsecured Creditors: Entity Nature of Claim Claim Amount ------ --------------- ------------ Terrex Construction, LLC Construction $1,254,237 3200 Madison Rd., Suite 2B Services - New Cincinnati, OH 45209 detox facility SIHO Insurance Services Employee Health $774,798 417 Washington Street Insurance Columbus, IN 47201 Family & Social Services FSSA Claim $713,366 Administration Repayment PO Box 621007 Indianapolis, IN 46262 Resource Anesthesiology Services $439,953 Associates of IN Rendered 450 Mamaroneck Ave, Suite 201 Harrison, NY 10528 Cardinal Health - 340B Medical $285,597 PO Box 70539 Supplies Chicago, IL 60673 Varian Medical Systems, Inc. Subscription $283,600 3100 Hansen Way Palo Alto, CA 94304 Weatherby Locums, Inc. Third Party $283,467 15300 Weston Pkwy, Ste 105 Staffing Services Cary, NC 27513 Trifecta Networks Medical $211,222 Supplies CPSI IT Support $204,298 ORS, Inc. Services $198,322 Provided American Health Network Third Party $168,000 Staffing Services Medline Industries, Inc. Medical Supplies $154,078 Email: sreed@medline.com Nextgen Healthcare IT Support $153,742 Quality Systems, Inc. Nevro Corporation Medical Supplies $138,354 Horizon Health Third Party $125,667 Staffing Services US Foods Food Service $122,336 Supplies Osman Clinic & Assoc. Third Party $122,100 Staffing Services Cynet Healthstaff, Inc. Third Party $118,642 Staffing Services Manta Resources, Inc. Recruitment $117,250 services Philips Healthcare Equipment $115,462 Support FERN HILL: Unsecureds to Recoup 25% with No Interest Over 60 Months ------------------------------------------------------------------- Fern Hill Place Retail Association, Inc., submits a disclosure statement describing its plan of reorganization. Class 1 under the plan consists of the general unsecured creditors. Based on the filed claims and scheduled claims, the Debtor owes anywhere from $180,000 (best case) to $1,036,990 (worst case) to Unsecured Creditors. This range is given as many of the claims are disputed, and once the claims process is final, an amount will be known. Using the Debtor's best case scenario, the Debtor proposes to pay unsecured creditors 25% of their allowed Unsecured Claims ($40,000), at an interest rate of 0%, payable as follows: $750 paid monthly, for 60 months, with the first payment being due 30 days after the Effective Date, for 60 payments to equal $40,000. This is an Impaired Class. The Debtor is pursuing the Plan to continue business operations subsequent to approval of the Plan of Reorganization. The Debtor will make payments due under the Plan from business operations and special assessments to its sole member, Crestview Investments, LLC. The Debtor anticipates no adverse tax consequences to them as a result of the Court confirming the Debtor's Plan of Reorganization. A copy of the Disclosure Statement is available for free at: http://bankrupt.com/misc/mnb18-41722-59.pdf About Fern Hill Place Fern Hill Place Retail Association Inc. is a privately held company in Minneapolis, MN, and is a single location business. Fern Hill Place Retail Association filed for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Minn. Case No. 18-41722) on May 24, 2018, estimating under $1 million in assets and liabilities. The Debtor tapped John D. Lamey, III, Esq., at Lamey Law Firm, P.A., as its legal counsel. FIDELITY AMERICAN: Unsecureds to Recover 5% Under Exit Plan ----------------------------------------------------------- General unsecured creditors of Fidelity American Holdings Corp. will be paid 5% of their claims under the company's proposed plan to exit Chapter 11 protection. According to the company's disclosure statement filed on Oct. 4 with the U.S. Bankruptcy Court for the Northern District of New York, creditors holding allowed Class 4 general unsecured claims will recover 5% of their claims, are impaired and are entitled to vote to accept or reject the plan. Funding for the plan will be obtained from development investment groups. Fidelity American is in discussion with potential investors interested in possible development of the land. The value of the land after development is estimated to be approximately $7.1 million. The first payment under the plan will be made to allowed claims and expenses of the bankruptcy estate prior to the effective date, including U.S. trustee's fees in the estimated amount of $650. Meanwhile, the amount to be paid to creditors holding Class 3 priority unsecured claims and Class 4 general unsecured claims will be determined after the deadline for filing proofs of claim. Fidelity American will make quarterly payments thereafter in an amount that is no less than the minimum amount provided for in the plan, according to the disclosure statement. A copy of the disclosure statement is available for free at: http://bankrupt.com/misc/nynb18-30821-32.pdf About Fidelity American Holdings Corp. Fidelity American Holdings Corp. is engaged in activities related to real estate. The company owns seven real estate properties in LeRay Township, New York, having an aggregate value of $1.72 million. Fidelity American Holdings sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. N.Y. Case No. 18-30821) on June 6, 2018. In the petition signed by Linda Luther, chief executive officer, the Debtor disclosed $2.52 million in assets and $1.88 million in liabilities. Judge Margaret M. Cangilos-Ruiz presides over the case. The Debtor tapped The Law Office of Charles A. Higgs as its bankruptcy counsel. FIRST DATA: Fitch Hikes Issuer Default Rating to BB-, Outlook Pos. ------------------------------------------------------------------ Fitch Ratings upgrades its Long-Term Issuer Default Rating (IDR) for First Data Corporation to 'BB-' from 'B+'. The Rating Outlook is Positive. First Data has reported solid fundamentals in its business and has executed well along its stated deleveraging path. Fitch believes solid industry trends combined with company-specific initiatives will enable stable to growing FCF in the coming years that will position the issuer much more strongly. The ratings impact approximately $20 billion of gross debt, including the company's $1.25 billion revolving credit facility. Fitch's Positive Outlook on the company reflects its view that leverage will continue to come down in the next 12-15 months, which could position the IDR higher in the coming years. KEY RATING DRIVERS Beneficiary of Electronic Payments Shift: First Data Corp. (FDC) sits at the intersection of an industry shift away from cash to electronic forms of payment, which Fitch believes will provide a revenue tailwind in the coming years. The company operates part of the "plumbing" that goes into a consumer being able to pay with a credit card. When a consumer swipes his or her credit/debit card at the register in a store or on a website, FDC is one of the technology providers enabling this transaction. Fitch believes the company will continue to benefit from increased card usage both in North America (its largest market at 75%-80% of revenue) and other markets globally. Scale Becoming More Critical: FDC is a global leader in merchant acquiring and issuer processing, and operates the third-largest debit network in the U.S., providing it with significant operational scale. The company processes $2.4 trillion in global payments volume, which is material given global GDP is $81 trillion, per the World Bank. Scale has become more critical in recent years as consolidation among U.S. financial institutions/banks and regulatory and market pressures have led to industry-wide pricing compression. Lower pricing has driven large-scale M&A in the payments space, and Fitch believes this trend will continue as long as the credit and equity markets remain supportive. Clover Provides Growth Opportunity: FDC has established a hidden gem in the small business space with its Clover platform. Clover is an open architecture, integrated point-of-sale (POS) system that has become one of the leading technology platforms powering U.S. small merchants, rivalling competitor Square. FDC purchased the company in December 2012 for $56 million and scaled the business meaningfully since then. Clover processes more than $65 billion in payment volume annually as of 2Q18 and is growing volumes more than 50% yoy. FDC does not disclose Clover revenue, but for context, Square reported nearly $1 billion in revenues in 2017 at a similar volume. Improved Credit Profile: Fitch calculates gross leverage was 5.6x at June 2018 versus 6.0x reported at YE 2017. This is down materially from 7.8x at YE 2014, with proceeds from the company's October 2015 IPO and a material improvement to FCF generation from debt refinancings helping to fund the deleveraging. Fitch is encouraged by the balance sheet improvement and estimates gross leverage could approach low-5.0x at December 2018 and low/mid-4.0x by the end of 2019. Management signalled it expects net leverage approaching the low-4.0x range by YE 2019 and could operate in the 3.5x-4.0x range in 2020-2021, although Fitch believes sub-4.0x would be highly dependent upon the pace of M&A and shareholder capital returns. Partnerships/alliances: Fitch believes FDC's distribution strategy is a differentiator but bears risk and opportunity. FDC relies upon various forms of partnerships that enable it to get its processing technology and services in the hands of merchants around the world. Importantly, FDC has eight joint ventures with leading global financial institutions including Bank of America, Wells Fargo, ABN Amro and others that drive a meaningful amount of value. These alliances comprise roughly one-third of sales within the GBS segment. These JVs rely upon long-term contracts that should support the credit in the coming years. However, it could pose a risk if one of these partners opted to work with another acquirer. Risk of Disintermediation: New payment technologies employed by other participants in the payment ecosystem are a long-term threat to disintermediate FDC. However, the company's broad and diverse product portfolio and investments it has made in new technologies are mitigants. Mobile pay companies such as Google and Apple have decided to work with the payment networks and merchant acquirers rather than try and develop a proprietary system. Regulatory and Industry Risks: Fitch views potential regulatory changes as a key risk factor for FDC and its peers in the payments space. FDC derives more than 80% of its revenue from transaction and processing fees, with much of this tied to purchase volume. There has been meaningful focus on interchange fees in recent years, and in September 2018, leading card networks Visa and Mastercard reached a $6.2 billion settlement related to fees charged to merchants/retailers. In the U.K., which only comprises roughly 2% of FDC's revenues, there is also an ongoing market review of merchant acquiring practices. Potential pressures on industry-wide fees could limit growth and pressure margins over time. DERIVATION SUMMARY First Data is the largest U.S. merchant acquirer when measured by revenues, EBITDA and merchant transactions (including its joint ventures). The company's meaningful scale provides it with a strong, differentiated market position in what Fitch views to be a fragmented landscape that includes both pure-play financial technology/payment providers and large, multinational financial institutions. The company's IDR of 'BB-' reflects its market position, diversity of product offerings in various facets of the payments industry and strong cash flow generation. Offsetting these positive attributes is absolute debt and gross leverage that remains higher relative to its industry peers, as the company continues to de-lever following its 2007 LBO. Fitch's Positive Outlook for First Data reflects the company's trajectory of improving its FCF generation profile and its continued emphasis on reducing leverage to a more manageable level in the 3.5x-4.0x range. KEY ASSUMPTIONS Fitch's Key Assumptions Within Its Rating Case for the Issuer -- Revenue - sales growth in the mid-single digit percentage range over the next several years, supported by continued volume growth across most of the business offset by yield/pricing pressures in certain areas. -- EBITDA margins - Fitch has assumed limited margin gains given competitive trends in the fragmented merchant acquiring segment and limited pricing power. -- Capex - Fitch estimates capital spending steps up modestly in the coming years, as the company likely needs to reinvest to remain competitive with changing technology trends. -- Cash taxes - similar to recent years, FDC will likely have modest cash taxes in the next several years due to large amount of net operating losses (NOLs) on its balance sheet ($4.6 billion federal as of December 2017). Capital Allocation: -- Debt reduction - the majority of FCF continues to go toward debt reduction through 2019. Management is targeting low-4.0x net leverage by YE19 and has prioritized this for uses of cash flow. -- M&A - Fitch is not modeling incremental M&A, although management has publicly noted it continues to look at deals and would consider M&A more closely once it gets in the 3.5x-4.0x range. -- Buybacks - Fitch has assumed share repurchases begin in 2020 once target leverage range achieved. RATING SENSITIVITIES Developments That May, Individually or Collectively, Lead to Positive Rating Action -- Fitch's Positive Outlook reflects its expectation that gross leverage will be at or below 4.5x within 12-15 months and will be maintained below these levels. -- Sustained EBITDA growth and continued reductions in debt from the company's improved FCF position. Developments That May, Individually or Collectively, Lead to Negative Rating Action -- Fitch's expectation that gross leverage will be sustained above 5.5x. -- Material erosion in market share, increased pricing pressures and/or competitive shifts that limit EBITDA and FCF expansion. LIQUIDITY AND DEBT STRUCTURE Sufficient Liquidity: First Data has sufficient liquidity to execute on its growth strategy and meet obligations in the next few years. Key sources of liquidity as of Jun-2018 include: (i) $217 million of available cash & equivalents, (ii) an untapped $1.25 billion senior secured revolver, (iii) strong post-dividend FCFs that Fitch estimates will exceed $1.5 billion per year in the next few years ($1.3 billion in 2017), and (iv) $35 million of available capacity under its $600 million A/R securitization facility. Debt Profile: FDC's debt structure is heavily reliant on secured debt, with roughly 80% of its debt outstanding at June 2018 in first lien secured (term loans, revolver, notes and A/R securitization) and second lien secured (notes) instruments. Maturities range from 2020-2024, with meaningful maturities of $2.0 billion in 2020 and $3.6 billion in 2022. The balance of FDC's debt, or $3.4 billion, is largely in unsecured notes that mature in 2023. FDC has $9.5 billion in variable rate debt, or approximately half of its overall debt outstanding, leaving it exposed to the current rising rate environment. The company has variable to fixed interest rate collars and interest rate step-up swaps to hedge its interest rate risk but still has some floating exposure and would be negatively impacted if rates continue to rise. In its latest SEC filing, the company indicated a 1% increase in interest rates would lower pretax income by $29 million over the next 12 months. Fitch estimates this implies an approximate 3% negative impact based on TTM pre-tax income. FOMO GLASS: Exit Plan to Pay 10% Dividend to Unsecured Creditors ---------------------------------------------------------------- FOMO Glass, LLC, proposes to pay a dividend of 10% to general unsecured creditors over four quarters under the company's proposed plan to exit Chapter 11 protection. According to the disclosure statement filed on Oct. 4 with the U.S. Bankruptcy Court for the Northern District of Florida, a dividend of 10%, with 1.6% interest, will be paid to creditors holding Class 4 general unsecured claims pro rata over four quarters. The quarterly payment, including interest, will be $500.21 and will start one year after the effective date of the reorganization plan. The total amount of general unsecured claims is $19,813.14. General unsecured creditors will be paid pro rata from income generated from the company's operations after administrative claims have been paid, according to the disclosure statement. A copy of the disclosure statement is available for free at: http://bankrupt.com/misc/flnb18-40236-46.pdf About FOMO Glass LLC About FOMO Glass, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Fla. Case No. 18-40236) on May 2, 2018. At the time of the filing, the Debtor disclosed that it had estimated assets of less than $50,000 and liabilities of less than $100,000. Judge Karen K. Specie presides over the case. The Debtor hired Thomas Woodward Law Firm, PLLC as its bankruptcy counsel. FQ/LB LP: Treatment of Equity Interest Holders Modified in New Plan ------------------------------------------------------------------- FQ/LB, L.P., submits a first amended disclosure statement in support of its first amended plan of reorganization. The first amended plan modifies the treatment of equity interest holders in Class 9. Holders of Equity Interests will receive no distributions on account of their Interests until such time as all creditors have been paid in full under the Plan, and all senior secured financing and the financial accommodations from the New Equity Investment have been paid in full, at which time the partners will receive distributions from the Debtor in accordance with the balances in their respective capital accounts under the Partnership Agreement. The partnership will be dissolved by the terms of the Plan, subject only to the return of the balance reflected in the partners’ respective capital accounts. No other payments or distributions will be made to the partners because of their Interests in the Debtor. Such payments and treatment will be in full and final satisfaction of such Interests. A copy of the First Amended Disclosure Statement is available for free at: http://bankrupt.com/misc/txsb18-31895-133.pdf About FQ/LB L.P. Based in Conroe, Texas, FQ/LB L.P., a privately held company that operates in the land subdivision industry, filed voluntary Chapter 11 Petition (Bankr. S.D. Tex., Case No. 18-31895) on April 13, 2018, and is represented by Joseph G Epstein, Esq., and Shannon, Martin, Finkelstein, Alvarado & Dunne, P.C. The Debtors' special litigation counsel is Feldman & Feldman, P.C. At the time of filing, the Debtor had estimated assets of $1 million to $10 million and estimated liabilities of $1 million to $10 million. GAINESVILLE HOSPITAL: Seeks Conditional Approval of Plan Outline ---------------------------------------------------------------- Gainesville Hospital District filed a motion asking the U.S. Bankruptcy Court for the Eastern District of Texas for entry of an order conditionally approving its proposed disclosure statement referring to its chapter 9 plan of adjustment. The Debtor also seeks a combined hearing on or about Nov. 15, 2018 to consider final approval of the Disclosure Statement and confirmation of the Plan. The Plan is designed to accomplish two primary objectives: (1) the continued existence and operation of the Hospital in order to provide medical care and services to the residents of Cooke County, Texas, including its needy inhabitants, and (2) the satisfaction and discharge of Creditor Claims in accordance with the Plan and pursuant to Chapter 9 from available funds in excess of those funds needed for Hospital operations, necessary improvements, and maintenance of Hospital facilities, as well as from the generation of future revenues from its medical services, and the proceeds of refunding bonds. The Plan specifies the means for accomplishing these two objectives. Each Holder of an Allowed General Unsecured Claim in Class 3 will either (a) be paid in full in Cash upon the Effective Date to the extent any such Claims have not been paid in full prior to confirmation of the Plan or (b) receive such other treatment rendering such Claim Unimpaired. Sources of funds for all Distributions and all other amounts payable under the Plan are (i) the revenues from the operation of the Hospital, (ii) proceeds of property taxation by the Debtor, and (iii) proceeds from the issuance of refunding bonds. A full-text copy of the Disclosure Statement is available for free at: http://bankrupt.com/misc/txeb17-40101-190.pdf About Gainesville Hospital District Gainesville Hospital District filed a Chapter 9 petition (Bankr. E. D. Tex. Case No. 17-40101) on January 17, 2017. The petition was signed by Ramin Roufeh, chief executive officer. At the time of the filing, the Debtor estimated its assets and liabilities at $10 million to $50 million. GATEWAY BUICK: Hires Property Assessment as Tax Consultant ---------------------------------------------------------- Gateway Buick GMC, Inc., seeks authority from the U.S. Bankruptcy Court for the Eastern District of Missouri to employ Property Assessment Review, as tax consultant to the Debtor. Gateway Buick requires Property Assessment to evaluate the current assessed valuations and use best efforts to obtain a reduction in the real estate tax assessments for the real property of the Debtor located at 820 James S Mcdonnel Blvd, Hazelwood, MO 63042. Property Assessment will be paid a contingency fee of 40% of the tax savings for each Tax Year 2017 and 2018. David Dempsey, president of Property Assessment Review, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. Property Assessment can be reached at: David Dempsey PROPERTY ASSESSMENT REVIEW 7820 Maryland Ave. St. Louis, MO 63105 Tel: (314) 454-0505 Fax: (314) 454-0502 About Gateway Buick GMC Gateway Buick GMC is an automotive dealer in the greater St. Louis area offering a selection of new and used vehicles with 37 service-bays scattered across the country. Gateway Buick GMC, Inc., filed a Chapter 11 petition (Bankr. E.D. Mo. Case No. 18-42085), on April 3, 2018. In the petition signed by Donald Davis, president, the Debtor estimated $50 million to $100 million in assets and $10 million to $50 million in liabilities. The case is assigned to Judge Charles E. Rendlen III. The Debtor tapped John Talbot Sant, Jr., Esq. of Affinity Law Group, LLC as its legal counsel. GLOBAL HEALTHCARE: Subsidiary Secures $200,365 Credit Facility -------------------------------------------------------------- Global Abbeville Property, LLC, a wholly-owned subsidiary of Global Healthcare REIT, Inc., entered into a revolving credit line promissory note in favor of Colony Bank, effective Oct. 1, 2018. The Note evidences a straight line of credit, guaranteed by Global Healthcare, bearing an interest rate of 6.5% per annum, payable on demand or, if no demand, due and payable on March 30, 2019. The maximum amount of credit is $200,365 and is to be used for continuing renovations. The credit line is secured by an existing Security Deed in favor of Colony Bank dated May 25, 2017 and is cross-collateralized with the Company's skilled nursing facility in Eastman, Georgia which is also financed by Colony Bank. About Global Healthcare Global Healthcare REIT, Inc., acquires, develops, leases, manages and disposes of healthcare real estate, and provides financing to healthcare providers. As of Dec. 31, 2017, the Company owned nine healthcare properties which are leased to third-party operators under triple-net operating terms. Global Healthcare incurred a net loss of $3 million for the year ended Dec. 31, 2017, compared to a net loss of $1.29 million for the year ended Dec. 31, 2016. As of June 30, 2018, the Company had $38.19 million in total assets, $36.45 million in total liabilities and $1.74 million in total equity. MaloneBailey, LLP's audit opinion included in the company's annual report on Form 10-K for the year ended Dec. 31, 2017, contains a going concern explanatory paragraph stating that the Company has suffered recurring losses from operations and has a net capital deficiency that raise substantial doubt about its ability to continue as a going concern. HAMKOR ENTERPRISES: Files 3rd Amended Disclosure Statement ---------------------------------------------------------- Hamkor Enterprises, LLC, submits a third amended disclosure statement in connection with its proposed plan of reorganization. According to this latest disclosure statement, the Debtor has had a positive cash flow since the bankruptcy case was filed and is current on all expenses. During the months of March through August 2018, Debtor has had income of $273,147.84 and expenses of $263,190.50, with a net profit of $9,957.34. Debtor anticipates revenues will increase through the fall and winter, in line with historical trends. A copy of the Third Amended Disclosure Statement is available for free at: http://bankrupt.com/misc/ganb18-53937-82.pdf About Hamkor Enterprises Hamkor Enterprises, LLC, is a business service located in Lawrenceville, Georgia. The company opened its doors in 2015. Hamkor Enterprises sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ga. Case No. 18-53937) on March 6, 2018. In the petition signed by Frank Lee, member, the Debtor estimated assets and liabilities of less than $500,000. Judge Wendy L. Hagenau presides over the case. The Debtor hired Macey, Wilensky & Hennings, LLP, as its legal counsel. No official committee of unsecured creditors has been appointed in the Chapter 11 case. HOOPER HOLMES: Quest Diagnostics Completes Acquisition of Assets ---------------------------------------------------------------- Quest Diagnostics (NYSE: DGX), the world's leading provider of diagnostic information services, on Oct. 10, 2018, disclosed that its subsidiary, Summit Health Inc. ("Summit"), has completed the previously disclosed acquisition of the assets of Hooper Holmes, Inc. d/b/a Provant Health (OTCMKTS: HPHWQ) ("Provant Health"), a provider of employer health and wellness services focused on whole person wellness and care cost management. "This acquisition is wholly consistent with our accelerate growth strategy, and our goal to empower the health and wellness initiatives of employers and other organizations managing population health," said Steve Rusckowski, Chairman, President and CEO, Quest Diagnostics. "Quest's health and wellness solutions empower individuals and organizations with insights and actions to identify and change problem behaviors, and engage in needed medical and preventative care, leading to healthier lives. Provant Health bolsters this capability, with an expanded network of providers to deliver wellness screening when and where individuals find it is most convenient." The transaction was completed after Summit's bid was declared the winner of an auction process conducted pursuant to section 363 of the Bankruptcy Code before a federal bankruptcy judge of the United States Bankruptcy Court for the Southern District of New York. Provant Health, along with six of its affiliates, filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code on August 27, 2018. Under the terms of the deal, Provant Health is expected to continue to operate its business and provide its services to meet customer obligations for the fourth quarter 2018. Quest Diagnostics is an award-winning provider of health and wellness services. The company achieved gold status in the American Heart Association's 2018 Workplace Health Achievement Index, ranking the company's workplace health program among the best in the nation, and is CEO Cancer Gold Standard accredited by The CEO Roundtable on Cancer. More recently, it won a Best Employers for Health Lifestyles(R) Gold Award from the National Business Group on Health. In recent years, Quest Diagnostics has extended its health and wellness capabilities for its own 45,000 employees and other employers and health plans. These include intervention programs for individuals identified, via biometric screening, as at risk for poor health outcomes. A study presented at the 78th American Diabetes Association Scientific Sessions in June 2018 showed a third of individuals with evidence of diabetes or prediabetes, according to hemoglobin A1c or fasting glucose lab tests, achieved normal blood levels after participating in an employer-sponsored wellness program offered by Quest Diagnostics. About Quest Diagnostics Quest Diagnostics -- http://www.QuestDiagnostics.com-- empowers people to take action to improve health outcomes. Derived from the world's largest database of clinical lab results, our diagnostic insights reveal new avenues to identify and treat disease, inspire healthy behaviors and improve health care management. Quest annually serves one in three adult Americans and half the physicians and hospitals in the United States, and our 45,000 employees understand that, in the right hands and with the right context, its diagnostic insights can inspire actions that transform lives. About Hooper Holmes Headquartered in Olathe, Kansas, Hooper Holmes, Inc., provides comprehensive health and well-being programs offered through organizations' sponsorship. Hooper Holmes, founded in 1899, is a publicly-traded New York corporation (OTXQX: HPHW). In 2015, Hooper Holmes acquired substantially all of the assets of Accountable Health Solutions, Inc. In 2017, Hooper Holmes merged with Provant Health Solutions, LLC. Hooper Holmes, Inc., and its affiliates sought Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No. 18-23302) on Aug. 27, 2018. Hooper Holmes reported total assets of $30,232,000 and total debt of $46,839,000 as of June 30, 2018. The Hon. Robert D. Drain is the case judge. Foley & Lardner LLP, led by Richard J. Bernard, John P. Melko, Jill Nicholson, and Geoff Goodman, serves as counsel to the Debtors. The Debtors also tapped Halperin Battaglia Benzija, LLP, as their conflicts counsel; Spencer Fane LLP as securities counsel; Phoenix Management Services as financial advisor; Raymond James & Associates, Inc., as investment banker; and Epiq Corporate Restructuring, LLC, as claims agent. On Sept. 6, 2018, an official committee of unsecured creditors was appointed in the Debtors' cases. The committee tapped Brown Rudnick LLP as its legal counsel. HOPEWELL RISK: Modifies Plan to Propose 60% Payment to Unsecureds ----------------------------------------------------------------- Hopewell Risk Strategies, LLC, submits a modification to its chapter 11 plan of reorganization filed on August 21, 2018. The modification is as follows: Class 6 general unsecured creditors are those with claims not secured by a lien, security interest, encumbrance or right of set-off, as the same are allowed, approved and ordered paid by the Bankruptcy Court. There are at least two known creditors in this class, exclusive of those (smaller) Class 7 creditors holding unsecured claims of $7,500 or less. Each creditor holding a Class 6 Claim will be paid 60% of its Allowed Claim, paid out in monthly installments not to exceed 60 months, commencing on the 20th day of the first month after the Effective Date or when such claim is allowed or ordered paid by Final Order of the Court, whichever date is later. Class 6 claims are impaired. A copy of the Proposed Modification is available at: http://bankrupt.com/misc/txsb18-30875-76.pdf About Hopewell Risk Strategies Founded by an experienced healthcare executive and attorney, Hopewell Risk Strategies, LLC, is a healthcare management firm focused on delivering exceptional niche solutions and products across the healthcare delivery system. Hopewell Risk Strategies sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Case No. 18-30875) on March 1, 2018. At the time of the filing, the Debtor estimated assets and liabilities of less than $1 million. Judge Karen K. Brown presides over the case. The Debtor hired Hoffman & Saweris, p.c., as its bankruptcy counsel; Patel Ervin PLLC as special counsel; and Lucas, Tucker, P.C., CPAs as accountant. HURRICANE MOUNTAIN: U.S. Trustee Objects to Disclosure Statement ---------------------------------------------------------------- William K. Harrington, the U.S. Trustee, objects to the adequacy of the disclosure statement filed by Hurricane Mountain Equipment LLC explaining its Chapter 11 plan dated August 22, 2018. Hurricane Mountain Equipment LLC and Ragged Mountain Equipment, Inc., are jointly administered Debtors under Chapter 11 case. The U.S. Trustee asserts the following: * The Disclosure Statement fails to address the application and requirements of the "absolute priority rule' set forth in 11 U.S.C. Section 1129(b)(2)(B). The absolute priority rule is implicated in the present case because the Debtor will retain prepetition assets but unsecured creditors will receive a dividend of just 14.8% over 60 months. Before the Debtor retains any property interest, the claims of unsecured creditors must be paid in full. * In the Debtor's financial information and projections annexed as Exhibit B under the Plan, the Debtor should describe how these figures were compiled, and by whom. There is very little information about current operations, and how the company will bring itself to profitability in the future. It is not clear if the projections include the rental income paid by Cynott Mountain Guides. * The Debtor states on page 5 that it will be "appointed" as the Disbursing Agent but in the Definitions section on page 2 of the Plan, Notinger Law, PLLC or some other disbursing agent will be "appointed." Who will be the Disbursing Agent is important because of the extraordinary powers being conferred on the Disbursing Agent upon confirmation. The Debtor needs to clarify. * Debts owed to Hurricane. The Schedule E/F filed by the related entity, Ragged Mountain Equipment, Inc., includes six claims with a total amount owed of approximately $125,000 to this Debtor, Hurricane Mountain Equipment, LLC. Does Hurricane expect to receive a dividend from Ragged Mountain? Shouldn't the unpaid balance due -- along with any unpaid rent -- be listed in the Debtor’s liquidation analysis? * Insider Claims of Cort and Cynthia Hansen and Richard Nadler. Will Hurricane pay a dividend to Cort and Cynthia Hansen, who are owed $63,322, or to Richard Nadler, owed $25,396, according to Hurricane’s Schedule E/F? * Salaries of Officers Post Confirmation. The Debtor indicates that Mr. Robert Nadler and Cort Hansen will manage the Debtor post confirmation, but there are no salaries described. Section 1129(a)(5)(B) of Title 11 requires that the Debtor’s Plan disclose the identity of any insider to be employed and the nature of any compensation for such insider. If the compensation is $0, that should be indicated. Accordingly, the U.S. Trustee asks the Court to deny approval of the Debtor's Disclosure Statement until these issues are resolved. About Ragged Mountain Equipment Ragged Mountain Equipment, Inc., doing business as Durable Designs -- http://raggedmountain.com/-- operates a sporting goods store in Intervale, New Hampshire. The company offers equipment for camping, climbing, skiing, and pets such as handwear, gaiters, headgear, luggage and buckles. Ragged Mountain Equipment and its affiliate Hurricane Mountain Equipment LLC filed Chapter 11 petitions (Bank. D. N.H. Case Nos. 18-10091 and 18-10092) on Jan. 25, 2018. In the petitions signed by Robert D. Nadler, authorized representative, Ragged Mountain disclosed $627,408 in assets and $2,060,000 in liabilities; and Hurricane Mountain estimated $500,000 to $1 million in assets and $500,000 to $1 million in liabilities. Steven M. Notinger, Esq., at Notinger Law, PLLC, serves as counsel to the Debtors. INTRADE LOGISTICS: To Pay Unsecs. 60 Monthly Installments of $950 ----------------------------------------------------------------- Intrade Logistics Corp. submits a disclosure statement explaining its proposed plan of reorganization. Holders of allowed general unsecured claims in Class 1 will be paid 15% through 60 equal consecutive monthly installments of $950.03 commencing on the Effective Date and continuing on the 30th day of the subsequent 59 months. The Debtor will effect payment of pending administrative expense on the Effective Date. Debtor's plan considers the collection of certain accounts receivable from one of its affiliates in the amount of $80,000. Moreover, Debtor operations will commence to produce positive cash flows, as soon as the current warehouse facilities are returned to the respective landlord. As a result, the Debtor estimates that it will have the necessary funds to pay the administrative expense claims and the priority tax claims on the Effective Date. The payment plan proposed to general unsecured claims will be funded from the Debtor's normal operations. A copy of the Disclosure Statement is available for free at: http://bankrupt.com/misc/prb18-03828-11-30.pdf About Intrade Logistics Corp. Headquartered in Toa Baja, Puerto Rico, Intrade Logistics Corp. is in the wine and distilled beverages business. Intrade Logistics Corp. filed a Chapter 11 Petition (Bankr. D.P.R. Case No. 18-03828) on July 5, 2018. In the petition signed by Rolando Fernandez, president, the Debtor disclosed $1.13 million in assets and $1.88 million in liabilities. CHARLES A CURPILL, PSC LAW OFFICES, led by principal Charles A. Cuprill Hernandez, is the Debtor's counsel. IX DESIGN BUILDERS: 10% Payment for Unsecureds Over 3 Years ----------------------------------------------------------- IX Design Builders, LLC, filed a combined disclosure statement and chapter plan of reorganization. IX Design Builders was formed in 2009 as a small residential construction and remodeling company. The Debtor proposes to pay unsecured claims 10 cents pro rata per dollar amount of the claim to be paid over a period of three years with the first payment to made one year from the date of confirmation of the plan and on the same date thereafter for two more years. The Debtor will make payments from continued construction operations of Ryan Reynolds and personal capital contributions from Ryan Reynolds as needed to effectuate the terms of the plan. A copy of the Disclosure Statement is available for free at: http://bankrupt.com/misc/neb18-40373-46.pdf The Debtor is represented by: John C. Hahn, Esq. WOLFE, SNOWDEN, HURD, LUERS & AHL, LLP Wells Fargo Center 1248 "O" Street, Suite 800 Tel: (402) 474-1507 Fax: (402) 474-3170 E-mail: jhahn@wolfesnowden.com IX Design Builders, LLC filed for chapter 11 bankruptcy protection (Bankr. D. Neb. Case No. 18-4037) on March 8, 2018, and is represented by John C. Hahn, Esq. of Wolfe, Snowden, Hurd, Luers & Ahl, LLP. JC FAMILY SERVICES: Seeks to Hire Darby Law as Bankruptcy Counsel ----------------------------------------------------------------- JC Family Services, Inc., seeks authority from the U.S. Bankruptcy Court for the District of Nevada to employ Darby Law Practice, LTD, as bankruptcy counsel to the Debtor. JC Family Services requires Darby Law to: a. advise the Debtor of its rights, powers and duties as the Debtor and debtor in possession in the continued operation of business and management of its properties; b. take all necessary action to protect and preserve the Debtor's estate, including the prosecution of actions on the Debtor's behalf, the defense of any actions commenced against the Debtor, the negotiation of disputes in which the Debtor is involved, and the preparation of objections to claims filed against the Debtor's estate; c. prepare on behalf of the Debtor all necessary motions, applications, answers, orders, reports and papers in connection with the administration of the Debtor's estate; d. attend meetings and negotiations with representatives of creditors, equity holders or prospective investors or acquirers and other parties in interest; e. appear before the Court, any appellate courts and the Office of the United States Trustee to protect the interests of the Debtor; f. pursue approval of confirmation of a plan of reorganization and approval of the corresponding solicitation procedures and disclosure statement; and g. perform all other necessary legal services in connection with the Chapter 11 case. Darby Law will be paid based upon its normal and usual hourly billing rates. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Kevin A. Darby, partner of Darby Law Practice, LTD, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. Darby Law can be reached at: Kevin A. Darby, Esq. DARBY LAW PRACTICE, LTD 4777 Caughlin Parkway Reno, NV 89519 Tel: (775) 322-1237 JC Family Services JC Family Services, Inc., filed a Chapter 11 bankruptcy petition (Bankr. D. Nev. Case No. 18-51077) on Sept. 26, 2018, disclosing under $1 million in assets and liabilities. The Debtor is represented by Kevin A. Darby, Esq., at Darby Law Practice, LTD. KAIROS HOMES: Seeks to Hire Davis Law Firm as Counsel ----------------------------------------------------- Kairos Homes, L.L.C., seeks authority from the U.S. Bankruptcy Court for the Northern District of Texas to employ Davis Law Firm, as counsel to the Debtor. Kairos Homes requires Davis Law Firm to: a. prepare all motions, notices, orders and legal papers necessary to comply with the requisites of the United States Bankruptcy Code and Bankruptcy Rules; b. counsel with the Debtor regarding preparation of Operating Reports; negotiations with creditors and the Internal Revenue Service; and development of a Chapter 11 Plan; and c. provide all other legal services ordinarily associated with the bankruptcy case. Davis Law Firm will be paid a flat fee of $15,000. The firm initially received the amount of $8,283 from the Debtor. John Park Davis, partner of Davis Law Firm, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. Davis Law Firm can be reached at: John Park Davis, Esq. DAVIS LAW FIRM P.O. BOX 123918 Fort Worth, TX 76121 Telephone: (817) 735-1711 Facsimile: (817) 735-1167 E-mail: john@johndavislaw.com About Kairos Homes Kairos Homes, L.L.C. -- http://www.kairoshomesllc.com/-- is a home builder in Fort Worth, Texas. Kairos Homes filed a Chapter 11 petition (Bankr. N.D. Tex. Case No. 18-43969) on Oct. 3, 2018. In the petition signed by Brian Frazier, president, the Debtor disclosed $3,006,914 in assets and $1,116,717 in liabilities. The Hon. Mark X. Mullin presides over the case. John Park Davis, Esq., at Davis Law Firm, serves as bankruptcy counsel. KSA INVESTMENTS: Trustee Taps Pickwick as Real Estate Broker ------------------------------------------------------------ Marc H. Baer, the Ch. 11 Trustee of KSA Investments, LLC, seeks authority from the U.S. Bankruptcy Court for the District of Maryland to employ Pickwick Realty, LLC, as real estate broker to the Trustee. The Trustee requires Pickwick to market and sell the following properties of the Debtor: -- 2210 Echodale Avenue, Baltimore, Maryland 21214; -- 5107 Walther Avenue, Baltimore, Maryland 21214; -- 5700 Fair Oaks Avenue, Baltimore, Maryland 21214; -- 4609 Furley Avenue, Baltimore, Maryland 21206; -- 2914 Markley Avenue, Baltimore, Maryland 21214. Pickwick will be paid a commission of 5% of the purchase price. David Wealcatch, managing member of Pickwick Realty, LLC, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. Pickwick can be reached at: David Wealcatch PICKWICK REALTY, LLC 122 Slade Avenue, Suite 102 Baltimore, MD 21208 Tel: (443) 499-2721 About KSA Investments KSA Investments, LLC, owner of five rental properties located in Baltimore City, Maryland, filed a Chapter 11 petition (Bankr. D. Md. Case No. 18-13303) on March 14, 2018. In the petition signed by its member Kamina Samie, the Debtor estimated $100,000 to $500,000 in assets and liabilities. The Law Offices of E. Christopher Amos serves as counsel to the Debtor. Marc H. Baer has been appointed as the Chapter 11 trustee to oversee the bankruptcy estate. He is represented by Offit Kurman, P.A. as his general counsel. He has hired Investors Management Co., Inc. as property manager. LAKEWOOD HOUSES: Disclosure Statement Hearing Set for Nov. 20 ------------------------------------------------------------- The U.S. Bankruptcy Court for the District of New Jersey is set to hold a hearing on Nov. 20 to consider approval of the disclosure statement filed by Lakewood Houses I, LLC in support of its Chapter 11 plan. The hearing will be held at 2:00 p.m., at Courtroom 3. Objections to the disclosure statement must be filed no later than 14 days prior to the hearing. About Lakewood Houses I LLC Lakewood Houses I, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Case No. 18-22332) on June 19, 2018. At the time of the filing, the Debtor disclosed that it had estimated assets of less than $1 million and liabilities of less than $1 million. Judge Christine M. Gravelle presides over the case. The Debtor tapped Timothy P. Neumann, Esq., at Broege, Neumann, Fischer & Shaver as its bankruptcy counsel. LAWSON NURSING HOME: Case Summary & 6 Unsecured Creditors --------------------------------------------------------- Debtor: Lawson Nursing Home, Inc. 540 Coal Valley Road #2 Jefferson Hills, PA 15025 Business Description: Lawson Nursing Home, Inc. is a nursing home in Jefferson Hills, Pennsylvania. It is a small facility with 50 beds and has for- profit, corporate ownership. Chapter 11 Petition Date: October 10, 2018 Case No.: 18-23979 Court: United States Bankruptcy Court Western District of Pennsylvania (Pittsburgh) Debtor's Counsel: Donald R. Calaiaro, Esq. CALAIARO VALENCIK 428 Forbes Ave., Suite 900 Pittsburgh, PA 15219 Tel: 412-232-0930 Fax: 412-232-3858 E-mail: dcalaiaro@c-vlaw.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Derek R. Glaser, president. A full-text copy of the petition containing, among other items, a list of the Debtor's six unsecured creditors is available for free at: http://bankrupt.com/misc/pawb18-23979.pdf LEGACY RESERVES: FMR LLC is No Longer a Shareholder --------------------------------------------------- FMR LLC and Abigail P. Johnson disclosed in a Schedule 13G/A filed with the Securities and Exchange Commission on Oct. 9, 2018 that they have ceased to beneficially own shares of common stock of Legacy Reserves LP. Members of the Johnson family, including Abigail P. Johnson, are the predominant owners, directly or through trusts, of Series B voting common shares of FMR LLC, representing 49% of the voting power of FMR LLC. A full-text copy of the regulatory filing is available for free at https://is.gd/RqOBQ4 About Legacy Reserves LP Legacy Reserves LP -- http://www.LegacyLP.com/-- is a master limited partnership headquartered in Midland, Texas, focused on the development of oil and natural gas properties primarily located in the Permian Basin, East Texas, Rocky Mountain and Mid-Continent regions of the United States. Legacy Reserves reported a net loss attributable to unitholders of $72.89 million in 2017, a net loss attributable to unitholders of $74.82 million in 2016, and a net loss attributable to unitholders of $720.5 million in 2015. As of June 30, 2018, Legacy Reserves had $1.51 billion in total assets, $1.76 billion in total liabilities and a total partners' deficit of $250.98 million. * * * As reported by the TCR on Oct. 4, 2018, S&P Global Ratings raised its issuer credit rating on Legacy Reserves L.P. to 'CCC' from 'SD' (selective default). S&P said "The upgrade follows the completion of the company's debt exchange, which we viewed as distressed, and our assessment that the company still faces liquidity challenges over the next 12 months." Moody's Investors Service affirmed Legacy Reserves LP's Corporate Family Rating (CFR) at 'Caa2' and its senior unsecured notes rating at 'Caa3'. Legacy's 'Caa2' CFR reflects the company's high leverage, weak liquidity and significant debt refinancing risk, as reported by the TCR on Jan. 26, 2018. LEGION OPERATOR: Nov. 5 Plan Confirmation Hearing ------------------------------------------------- Judge Paul Baisier of the U.S. Bankruptcy Court for the Northern District of Georgia issued an order approving the disclosure statement explaining Legion Operator Training Group, LLC's plan. November 5, 2018, at 2:00 P.M., is fixed as the date of hearing of confirmation of the Plan. Written objections to the Plan confirmation and ballots are due by October 29. About Legion Operator Legion Operator Training Group, LLC, fka American International Marksmanship Academy, LLC, filed a voluntary Chapter 11 petition (Bankr. N.D. Ga. Case No. 16-50046) on January 2, 2016, and is represented by John A. Christy, Esq., at Schreeder, Wheeler & Flint, LLP, in Atlanta, Georgia. At the time of filing, the Debtor had estimated assets of $1 million to $10 million and estimated liabilities of $1 million to $10 million. The petition was signed by Barton C. Rice, Jr., manager. LEVEL SOLAR: Plan Provides Former Employees Allowed Claim of $400K ------------------------------------------------------------------ Level Solar, Inc., filed its second amended disclosure statement, dated Oct. 5, 2018, relating to its first amended plan of reorganization. According to the second disclosure statement, the Adversary Proceeding captioned Daniel Corey Hiergesell and Dennise Esperanza Flores v. Level Solar, Inc. (the WARN Act Claim) was filed based on the fact that the state court matter, was stayed as a result of the filing of the Bankruptcy Case. As with the state court case, this is a class action filed by two former LSI employees seeking recovery on behalf of themselves and similarly situated former employees for damages allegedly incurred pursuant to the New York Warn Act. As of Oct. 4, 2018, the Debtor and Plaintiffs have tentatively agreed to settle of this Claim, subject to approval of the Bankruptcy Court, by providing Plaintiffs an allowed Class 2 claim in the amount of $400,000. A copy of the Second Amended Disclosure Statement is available for free at: http://bankrupt.com/misc/nysb17-13469-275.pdf About Level Solar Based in New York, Level Solar Inc. operates under the solar-energy installation industry. Incorporated in 2013, the Company has operations in Long Island, New York City and Massachusetts. Level Solar filed for bankruptcy protection (Bankr. S.D.N.Y. Case No. 17-13469) on Dec. 4, 2017. In the petition signed by Richard Pell, secretary of the Company, the Debtor estimated assets of $50 million to $100 million and debt of $1 million to $10 million. Michael Conway, Esq., of Shipman & Goodwin LLP serves as bankruptcy counsel to the Debtor. Akin Gump Strauss Hauer & Feld LLP acts as corporate counsel to the Debtor. MATTRESS FIRM: Proceeds of Exit Facilities to Help Fund Plan ------------------------------------------------------------ Mattress Firm, Inc. and its affiliated debtors filed a disclosure statement for their joint prepackaged chapter 11 plan reorganization dated Oct. 4, 2018. The primary features of the Chapter 11 cases and the Plan are as follows: * All of the Debtors' prepetition secured debt will be paid in full, including (a) a roll-up of the full outstanding amount under the Prepetition ABL Facility, which was approximately $87 million on the date hereof, and (b) payment in full in Cash of the approximately $83 million in principal amount outstanding under the Prepetition Term Loan. * No class of claims is impaired under the Plan. * General Unsecured Claims -- other than Intra-Group Loan Claims arising under the Intra-Group Loan Agreement -- including all lease rejection claims that are allowed will be paid in full in cash in accordance with the applicable provisions of the Bankruptcy Code. * Distributions under the Plan will be funded with the proceeds of a $400 million secured term loan facility (the "Exit Term Loan Facility"). * On the effective date of the Plan, the Debtors anticipate securing access to a $125 million revolving credit facility (the "Exit ABL Facility"), which is expected to be undrawn, and that will provide additional liquidity for their post-bankruptcy operations. * The equity of reorganized Debtor Mattress Holdco, Inc., the direct or indirect parent of each of the other Debtors, will continue to be held by Mattress Firm Holding Corp., a non-Debtor Affiliate of the Debtors and the current parent company of MF Holdco, after the Effective Date of the Plan. The equity of MFHC will continue to be held by Stripes US Holding, Inc., a non-Debtor affiliate of the Debtors and the direct parent company of MFHC. * The lenders who are providing the Exit Term Loan Facility will receive equity and payment-in-kind debt as additional consideration for their financing commitments. This equity and payment-in-kind debt will be issued by either MF Holdco or Stripes, depending on the outcome of a tax analysis that the Debtors and their advisors are currently performing. Because it is possible that MF Holdco will be issuing the equity, the Interests in MF Holdco are subject to potential dilution and are therefore being treated as Impaired under the Plan. MFHC, as the sole holder of the Interests in MF Holdco, is entitled to vote to accept or reject the Plan. All other Classes of Claims and Interests are Unimpaired under the Plan. * The non-Debtor affiliates of Mattress Firm that are parties to the Intra-Group Loan Agreement as lenders, Steinhoff Europe AG and Steinhoff Mobel Holding Alpha GmbH, have agreed to receive no distributions under the Plan on account of their unsecured guarantee claims against the Debtors. Moreover, SEAG and Mobel have agreed, and their creditors have consented, to a gratuitous capital contribution of the remaining claims against Stripes and MFHC under the Intra-Group Loan Agreement. * On the effective date of the Plan, the guarantee obligations of each Debtor and MFHC under the Intra-Group Loan Agreement will be released. All Cash necessary for the Reorganized Debtors to make payments required by the Plan will be obtained from (1) Cash on hand, including Cash from operations and the proceeds of the DIP Credit Facilities, and (2) the proceeds of the Exit Facilities. A full-text copy of the Disclosure Statement is available for free at: http://bankrupt.com/misc/deb18-12241-23.pdf About Mattress Firm Founded in 1986, Mattress Firm -- https://www.mattressfirm.com/ -- is a specialty mattress retailer headquartered in Houston, Texas, operating more than 3,230 stores across 49 states (including franchise locations). Mattress Firm offers a broad selection of mattress products and bedding accessories from leading manufacturers and brand names, including Serta, Simmons, tulo, Sleepy's, Chattam & Wells and Purple. MATTRESS FIRM: Receives Court Approval of "First Day" Motions ------------------------------------------------------------- Mattress Firm, Inc., the nation's leading specialty mattress retailer, on Oct. 10, 2018, disclosed that it has received interim approval from the U.S. Bankruptcy Court in Delaware (the "Court") for all of its "First Day" motions related to the voluntary prepackaged Chapter 11 restructuring cases it initiated on Oct. 5, 2018. Collectively, the interim approvals will help ensure that Mattress Firm continues normal business operations throughout the financial restructuring process. The Company expects to complete this process within the next 45 to 60 days. Steve Stagner, Executive Chairman, President and CEO of Mattress Firm, said, "Mattress Firm is open for business and offering customers the best beds at the best prices every day, just as we always have. The Court's interim approvals of our First Day motions represent the successful first steps in the actions we are taking to strengthen our balance sheet and provide us the resources to improve our product offering, strategically expand into new and existing markets and ultimately, provide greater value to the customers we serve." Mr. Stagner continued, "Upon completion of this process, Mattress Firm will remain the largest and most convenient specialty mattress retailer in America, and I'm extremely excited about the opportunities ahead. Importantly, I'd like to thank our talented team for their dedication to our company as we continue working constructively with our suppliers and partners." At the hearing, the Court entered an order granting the Company interim authorization to access an initial portion of its $250 million in debtor-in-possession financing, which will be available to support its ongoing operations during the Chapter 11 proceedings. The Company also received authorization to continue paying employee wages and health benefits and to continue to honor its customer policies and programs, including warranties, returns/exchanges and promotions. The Court also provided authorization for Mattress Firm to pay suppliers and contractors in full under normal terms for all goods and services provided prior to and after the filing date. Pursuant to its prepackaged plan of reorganization, the Company expects suppliers and contractors to be unimpaired by this process. Additional information can be accessed by visiting the Company's restructuring website at www.mattressfirm.com/restructuring. Court filings and other documents related to the court-supervised process in the U.S. are available on a separate website administered by the Company's claims agent, Epiq, at http://dm.epiq11.com/MattressFirm. Information is also available by calling 877-214-3592 (toll-free in the U.S.) or 503-520-4465 (for parties outside the U.S.). A&G Realty Partners is assisting the Company with its store closing and lease restructuring program. Mattress Firm landlords are encouraged to contact A&G Realty Partners through its website, www.agrealtypartners.com. Sidley Austin LLP is serving as the Company's legal counsel, AlixPartners LLP is serving as its financial advisor, and Guggenheim Securities, LLC is serving as its restructuring advisor. About Mattress Firm Founded in 1986, Mattress Firm -- https://www.mattressfirm.com/ -- is a specialty mattress retailer headquartered in Houston, Texas, operating more than 3,230 stores across 49 states (including franchise locations). Mattress Firm offers a broad selection of mattress products and bedding accessories from leading manufacturers and brand names, including Serta, Simmons, tulo, Sleepy's, Chattam & Wells and Purple. Houston, Texas-based Mattress Firm, Inc., and its affiliates filed for Chapter 11 bankruptcy protection (Bankr. D. Del. Case No. 18-12241) on Oct. 15, 2018. The Hon. Christopher S. Sontchi is the case judge. Mattress Firm estimated $1 billion to $10 billion in assets and debt as of the bankruptcy filing. The Debtors tapped SIDLEY AUSTIN LLP as general counsel; YOUNG CONAWAY STARGATT & TAYLOR, LLP, as Delaware counsel; ALIXPARTNERS, LLP, as financial advisor; GUGGENHEIM SECURITIES, LLC, as investment banker; and EPIQ BANKRUPTCY SOLUTIONS as claims agent. MEGA 4 LLC: Seeks to Hire Edwin M. Shorty, Jr. as Counsel --------------------------------------------------------- Mega 4, LLC, seeks authority from the U.S. Bankruptcy Court for the Eastern District of Louisiana to employ Edwin M. Shorty, Jr. & Associates, A.P.L.C., as counsel to the Debtor. Mega 4, LLC, requires Edwin M. Shorty, Jr.to: (a) provide legal advice with respect to the Debtor's powers and duties as debtor in possession in the continued management and operation of its businesses and properties; (b) attend meetings with representatives of the Debtor's creditors and other parties in interest; (c) take all necessary action to protect and preserve the estate of the Debtor, including the prosecution of actions on its behalf, the defense of any action commenced against the Debtor, negotiations concerning litigation in which the Debtor is involved, and objections to claims filed against the estates of the Debtor; (d) prepare on behalf of the Debtor motions, applications, answers, orders, reports, and papers necessary to the administration of the Debtor's estates; (e) take any necessary action on behalf of the Debtor to obtain confirmation of its plan; (f) appear before this Court to protect the interests of the Debtor before this Court; (g) perform all other necessary legal services and provide all other necessary legal advice to the Debtor in connection with this chapter 11 case; (h) represent the Debtor in connection with obtaining post- petition financing, if any; (i) advise the Debtor concerning and assist in the negotiation and documentation of financing agreements, cash collateral orders and related transactions; (j) investigate the nature and validity of liens asserted against the property of the Debtor, and advise the Debtor concerning the enforceability of said liens; (k) investigate and advise the Debtor concerning, and take such action as may be necessary to collect, income and assets in accordance with applicable law, and the recovery of property for the benefit of the estates of the Debtor; (l) advise and assist the Debtor in connection with any potential property dispositions; (m) advise the Debtor concerning executory contract and unexpired lease assumptions, assignments and rejections and lease restructuring and recharacterizations; (n) assist the Debtor in reviewing, estimating and resolving claims asserted against the estate; (o) commence and conduct litigation necessary and appropriate to assert rights held by the Debtor, protect assets of the chapter 11 estate or otherwise further the goal of completing the successful reorganization of the Debtor; and (p) perform all other legal services for the Debtor which may be necessary and proper in these proceedings. Edwin M. Shorty, Jr., will be paid at these hourly rates: Attorneys $175 to $250 Paralegals $60 to $95 Edwin M. Shorty, Jr., will be paid a retainer in the amount of $2,000. Edwin M. Shorty, Jr., will also be reimbursed for reasonable out-of-pocket expenses incurred. Edwin M. Shorty, Jr., a partner at Edwin M. Shorty, Jr. & Associates, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. Edwin M. Shorty, Jr. can be reached at: Edwin M. Shorty, Jr., Esq. EDWIN M. SHORTY, JR. & ASSOCIATES, A.P.L.C. 650 Poydras Street, Suite 2515 New Orleans, LA 70130 Tel: (504) 207-1370 About Mega 4, LLC Mega 4, LLC, filed a Chapter 11 bankruptcy petition (Bankr. E.D. La. Case No. 18-12279) on Aug. 29, 2018, disclosing under $1 million in assets and liabilities. The Debtor is represented by Edwin M. Shorty, Jr. & Associates, A.P.L.C. MID-SOUTH GEOTHERMAL: Regions Bank Opposes Approval of Disclosures ------------------------------------------------------------------ Secured creditor Regions Bank, an Alabama banking corporation, objects to approval of the disclosure statement filed by Mid-South Geothermal, LLC. The bank complains that the Disclosure Statement does not contain any meaningful financial information, evaluations and projections with regard to the Debtor's projected future outlook. The Debtor fails to provide sufficient financial information regarding operating costs, anticipated revenue, existing and anticipated contracts for work, and other information necessary to determine whether the Debtor’s monthly cash flow will be sufficient to maintain operations and allow funds necessary to fund the Debtor's Plan of Reorganization. Debtor has not included a pro forma providing financial information regarding future income to make required Plan payments. The Disclosure Statement provides that the current equity owners will retain their ownership interests. There is no mention, however, of any consideration paid for the retention of equity ownership, nor is there any suggestion that the equity interests have been, or are being, exposed to the competitive marketplace. Further, in its description of the treatment of the General Unsecured Class (Class 6), it is stated that "Unsecured debt will be converted to equity and be paid a priority amount from annual net profits for 10 years". There is no indication as to whether this will provide a 100% dividend to the General Unsecured Class. A copy of the Bank's Objection is available for free at: http://bankrupt.com/misc/tnwb18-21498-93.pdf The Troubled Company Reporter previously reported that Unsecured debt will be converted to equity and be paid a priority amount from annual net profits for 10 years. A full-text copy of the Disclosure Statement is available at: http://bankrupt.com/misc/tnwb18-21498-82.pdf Attorney for Regions Bank: E. Franklin Childress, Jr., Esq. BAKER DONELSON BEARMAN CALDWELL & BERKOWITZ, PC 165 Madison Avenue, Suite 2000 Memphis, Tennessee 38103 Telephone: (901) 577-2147 Email: fchildress@bakerdonelson.com About Mid-South Geothermal Mid-South Geothermal, LLC, installs geothermal heating and cooling systems for large commercial projects. Its principal place of business is located at 28 Superior Lane Gray, Kentucky. Mid-South Geothermal filed for Chapter 11 bankruptcy protection (Bankr. W.D. Tenn. Case No. 18-21498) on Feb. 20, 2018, listing $2.04 million in total assets and $2.14 million in total liabilities. The petition was signed by Scott W. Triplett, president. Judge David S. Kennedy presides over the case. Steven N. Douglass, Esq., at Harris Shelton Hanover Walsh, PLLC, serves as the Debtor's bankruptcy counsel. MID-SOUTH GEOTHERMAL: Taxing Authorities Object to Plan Outline --------------------------------------------------------------- The Shelby County Trustee and City of Memphis ("Local Taxing Authorities") object to the disclosure statement filed by Mid-South Geothermal, LLC. The Taxing Authorities complain that the Disclosure Statement fails to clearly indicate that upon failure to pay valorem property taxes according to the approved Plan or to pay post-petition ad valorem property taxes, the Local Taxing Authorities are entitled to pursue their remedies pursuant to applicable non-bankruptcy law without seeking further relief from this court. Such lack of clarity is compounded by the language at p. 20 of the Disclosure Statement regarding "Retention of Jurisdiction." The Local Taxing Authorities propose that the following language, or language similar thereto, be added to the Plan: "Notwithstanding any language herein to the contrary, if pre-petition claims or administrative expenses arising from ad valorem property taxes owed Shelby County Trustee and/or City of Memphis are not paid as required by the Plan, or if post-petition ad valorem property taxes are not paid prior to the dates on which such ad valorem property taxes will be deemed delinquent if not paid, Shelby County Trustee or City of Memphis may exercise any and all remedies available under state law for enforcement of their statutory lien for delinquent ad valorem property taxes, without the need to seek any kind of relief from this Court." A copy of the Taxing Authorities' Objection is available at: http://bankrupt.com/misc/tnwb18-21498-92.pdf The Troubled Company Reporter previously reported that payments and distributions under the Plan will be funded by the continued operation of Debtor's business. A full-text copy of the Disclosure Statement is available at: http://bankrupt.com/misc/tnwb18-21498-82.pdf Attorney for Shelby County Trustee and for City of Memphis: Gregory S. Gallagher (BPR # 7274) Shelby County Delinquent Tax Attorney 157 Poplar Avenue, 3rd Floor Memphis, TN 38103 Phone No:(901) 327-4243 Fax No: (901) 324-5123 greggallagher@bellsouth.net About Mid-South Geothermal Mid-South Geothermal, LLC, installs geothermal heating and cooling systems for large commercial projects. Its principal place of business is located at 28 Superior Lane Gray, Kentucky. Mid-South Geothermal filed for Chapter 11 bankruptcy protection (Bankr. W.D. Tenn. Case No. 18-21498) on Feb. 20, 2018, listing $2.04 million in total assets and $2.14 million in total liabilities. The petition was signed by Scott W. Triplett, president. Judge David S. Kennedy presides over the case. Steven N. Douglass, Esq., at Harris Shelton Hanover Walsh, PLLC, serves as the Debtor's bankruptcy counsel. MONSTER CONCRETE: To Pay EFS $779 Monthly at 5.25% Per Annum ------------------------------------------------------------ Monster Concrete and Excavation Inc. filed a revised second amended disclosure statement, dated Sept. 28, 2018, in connection with its chapter 11 plan of reorganization. Class 1.05 under the plan consists of the claim of North Mill Credit Trust f/k/a EFS Credit Trust in the approximate amount of $41,067.62 and is impaired. The Claim of EFS is secured by a lien on a 2017 Rampant low boy 35-ton trailer which is owned by the Debtor but used by Monster Concrete and Excavation in its operations. The Debtor proposes that this claim be paid by Monster Concrete and Excavation, pursuant to its plan, in monthly payments of $779.71 per month for 60 months with interest at 5.25%, per annum until the debt is paid in full. EFS will retain its lien on this collateral until the debt is paid in full. A copy of the Revised Second Amended Disclosure Statement is available for free at: http://bankrupt.com/misc/alnb18-80279-11-143.pdf About Monster Concrete Based in Huntsville, Alabama, Monster Concrete and Excavation, Inc., and Monster Concrete, LLC, are involved in the concrete business and are owned by Steve Williams. Monster Concrete and Excavation, Inc., and Monster Concrete, LLC, sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ala. Case No. 18-80279 and 18-80280) on Feb. 1, 2018. Judge Clifton R. Jessup, Jr., presides over the cases. Heard, Ary & Dauro, LLC, is the Debtors' legal counsel. The Court has not appointed a trustee or examiner nor has any official committee been established in the bankruptcy case. MRP GENERATION: Moody's Cuts Rating on $270MM Term Loan B to B3 --------------------------------------------------------------- Moody's Investors Service has downgraded the rating on MRP Generation Holdings, LLC's $270 million senior secured term loan B (approximately $265 million outstanding as of June 30, 2018) due in 2022 to B3 from B2, and also downgraded the rating on MRP's senior $20 million revolving credit facility due in 2021 to B2 from B1. The rating outlook has been revised to negative from stable. RATINGS RATIONALE The rating action reflects weaker than expected financial performance resulting in the Project drawing on its debt service reserve (DSR) to cover debt service, and heightened refinancing risk as the Project has not de-levered other than the required 1% debt amortization. MRP's weaker financial performance largely reflects underperformance at High Desert Power Project (High Desert), a 750 megawatt (MW) combined cycle natural gas-fired plant in California, owing in large part to low natural gas and related power prices as well as continued renewable penetration. These market factors, coupled with planned outages at High Desert in 'Q4 2017 and 'Q2 2018 for major maintenance capital expenditures, caused the capacity factor to decline to 34% in 2017 and 25% YTD 2Q 2018 from 48.8% in 2016 and much lower than the 60% capacity factor assumed in its base case. The planned outages completed with Siemens under the terms of a long-term service agreement are expected to increase output of up to 45MW, lower the plant's heat rate, enhance reliability, and extend the facility's useful life. However, the higher major maintenance and capital expenditures exacerbated an already weakened financial performance in 2017 and 2018. Market spark spreads have shown improvement during the second half of 2017 following a particularly hot summer, and have improved in 2018 as a result of natural gas delivery constraints on the Southern California Gas (SoCal) network resulting in higher delivered gas pricing at the SoCal hub and higher SP15 power prices through the summer of 2018. However, while 2017 High Desert's energy margin benefitted somewhat from higher spark spreads, the improvement was not sustained because of the outage, which contributed to the Project needing to pay higher than expected settlement payments under a Heat Rate Call Option (HRCO). The Project entered into the HRCO in 2017 that expires in 2022 for 500 MW of High Desert's capacity. Under the hedge, High Desert receives a fixed payment each month, and in exchange, High Desert pays the realized spark spread based on the plant's operating parameters. While the HRCO was entered into to provide some margin certainty, the higher spark spreads that existed during the time the plant had an outage, resulted in higher than expected payments to the HRCO counterparty. In addition, High Desert capacity revenues from bilateral resource adequacy (RA) contracts with load serving entities (LSEs) in the California ISO (CAISO) were lower than originally anticipated. Specifically, RA contracts received at High Desert in 2017 were lower than those recorded in 2016 as both the number of contracts and the contract pricing declined. Revenue from RA contracts has improved in 2018 and based upon known results, will improve further in 2019. High Desert has shifted its marketing strategy away from large regulated LSEs to community choice aggregators and municipal utilities. MRP's credit profile also benefits from the capacity revenues earned at its PJM peaking assets, Big Sandy and Wolf Hills, primarily from known reliability pricing model (RPM) capacity revenue through May 2022. While known capacity revenues from the two PJM assets provide some future visibility into MRP's future cash flows, PJM capacity auction results can be volatile on a year-over-year basis and the contribution from these two plants is quite modest resulting in MRP's credit profile being highly dependent on High Desert. Moody's calculates that the Project's debt service coverage ratio (DSCR) and the ratio of project cash from operations to debt (Project CFO/Debt) for 2017 was 1.25x and 1.9%, respectively, which is lower than its expectations under its base case forecast of 1.45x and 4.9%, respectively. Results for the twelve months ended June 30, 2018, were even worse owing to the higher maintenance expenditures during the outage leaving the Project unable to cover the maintenance expenses and debt service from internal sources, necessitating a $7 million draw under the $12 million cash funded DSR and a $5 million draw under the revolving credit facility. Moody's understands that the Project continued to rely on the DSR through the Q3 2018 and drew down the remaining $5 million balance at the end of the quarter. Management has indicated that they expect to refill a portion of the DSR by the end of 2018 and replenish the remainder through 2019 based upon their expectation for financial performance in these periods. Moody's does understand that the $5 million drawn under the revolver has since been repaid, and $20 million is now fully available for working capital purposes. Based on the budget for 2018, Moody's calculates that the DSCR will be 1.31x for the year, the Project CFO/Debt will be 4.5% and Debt/EBITDA will be 6.5x. While these metrics represent an improvement over 2016 and 2017, they still score in the B category in its Power Generation Projects Methodology (the Methodology). Moreover, the Project's chronically weak financial results has limited any deleveraging despite the 100% cash flow sweep, which in the absence of materially better financial performance raises refinancing risk. The term loan balance at June 30, 2018 was about $265 million, versus an original amount of $270 million and its expectation of about $236 million for FYE 2018. The B2 rating on the secured revolving credit facility reflects structural features that enable us to rate it one notch higher than the secured term loan. Among other features, any revolver outstandings have a priority claim over the secured term loan during any bankruptcy reorganization or liquidation scenario. Rating Outlook The negative outlook reflects the Project's chronically weak financial performance, the uncertainty about whether such performance can improve, especially given market developments in California, and the liquidity profile which is weak and the fact that the DSR remains fully drawn. Factors that could lead to a rating upgrade In light of the recent downgrade and negative outlook, limited prospects exist for the rating to be upgraded in the short-term. However, the outlook could stabilize and the rating could be upgraded if management's expected financial improvement actually materializes resulting in higher operating cash flows, replenishment of the debt service reserve, faster debt reduction and credit metrics on a sustainable basis scoring at the mid to high end of the B rating category under the Methodology (i.e., Project CFO/Debt and DSCR approaching 10% and 2.0x, respectively). Factors that could lead to a rating downgrade The rating could be downgraded further if the Project's expected financial improvement fails to materialize despite the higher capacity revenues in California and the benefits to operations from the major maintenance capital expenditures at High Desert causing the Project's CFO/Debt to be below 4% and the DSCR to fall below 1.0x on a sustainable basis. There could also be negative rating implications if there were to be any further draws on liquidity to cover debt service and/or the Project experiences a sustained outage impacting its financial performance. The principal methodology used in these ratings was Power Generation Projects published in June 2018. MRP Generation Holdings LLC owns 1,300 MW of generating capacity in CAISO and PJM. The largest plant is the 750 MW High Desert combined-cycle facility located in Victorville, CA. The remaining portfolio assets include the 300 MW Big Sandy peaking facility located in Kenova, WV and the 250 MW Wolf Hills peaking facility located in Bristol, VA. MRP Gen is indirectly owned by a fund managed by Avenue Capital Group, which has total assets under management of approximately $9.0 billion. NANA DEVELOPMENT: Moody's Withdraws Caa2 CFR Amid Debt Redemption ----------------------------------------------------------------- Moody's Investors Service has withdrawn all ratings on NANA Development Corporation following the company's recent redemption of all rated debt. The following ratings were withdrawn: Issuer: NANA Development Corporation: Caa2, Corporate Family Rating; Caa2-PD, Probability of Default Rating Prior to the withdrawal, the outlook on the ratings was Negative. RATINGS RATIONALE In late September, NANA completed the redemption of its 9.5% senior secured notes due 2019 using proceeds from a debt issuance supported by NANA Regional Corporation, who was not a note guarantor. Moody's has withdrawn all ratings on NANA. NANA Development Corporation maintains an investment portfolio of various business segments including federal contract services, hospitality, management services, and oilfield and mining services. NANA's revenues for the 12 months ended June 30, 2018 totaled approximately $1.14 billion. NANA's main objective is to invest in businesses that will create long-term income and job opportunities for NANA shareholders. NANA Regional Corporation (NRC), NDC's parent, was formed as one of 13 Native Corporations that followed the Alaska Native Claims Settlement Act. NRC has land surface and subsurface rights of 2.3 million acres in Northwest Alaska, including the Red Dog Mine, and is owned by the 14,000+ members of the Inupiat community. NANAK131313 INC: Trustee Blocks OK of Disclosure Statement ---------------------------------------------------------- John P. Fitzgerald, III, Acting United States Trustee for Region 4, filed an objection to the approval of Nanak131313 inc.'s disclosure statement for dissemination to creditors and parties in interest. On July 12, 2018, the Court entered an order approving the sale of business and assumption and assignment of commercial lease. This order provided for the sale of all of the assets of the debtor's business, a laundry, for $160,000. The Trustee asserts that a report of sale has not been filed for this transaction. The debtor has also not filed monthly operating reports for July and August 2018. Accordingly, the disclosure statement should not be approved until there is an accounting of the debtor's financial transactions by filing a report of sale, and the delinquent monthly reports. The disclosure statement should also include a list of claims that will not be paid under the plan. A copy of the Trustee's Objection is available for free at: http://bankrupt.com/misc/vaeb18-11158-62.pdf The Troubled Company Reported previously reported that the source of funds to be distributed pursuant to the Plan are the assets of the Debtor, which have now been liquidated. The Debtor's Plan will be successful as the sale of the business from which the Plan is funded has already occurred. A copy of the Disclosure Statement is available for free at: http://bankrupt.com/misc/vaeb18-11158-58.pdf About Nanak131313 inc. Nanak131313 inc. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Va. Case No. 18-11158) on April 2, 2018. At the time of the filing, the Debtor estimated assets of less than $50,000 and liabilities of less than $100,000. Judge Brian F. Kenney presides over the case. Jonathan Vivona, Esq., is the Debtor's attorney. On May 25, 2018, the Court appointed Alan Horn as sales agent. NAVILLUS TILE: Obtains Approval to Exit Chapter 11 Bankruptcy ------------------------------------------------------------- Navillus on Oct. 10, 2018, disclosed that it has received approval to exit Chapter 11 bankruptcy protection from presiding Bankruptcy Court Judge Sean H. Lane who confirmed Navillus' Plan of Reorganization. Navillus will exit bankruptcy with an agreed upon settlement with the union parties. "Throughout this process our work has continued uninterrupted and we've remained focused on executing New York City's biggest projects for our clients," said Donal O'Sullivan, Founder and CEO of Navillus Contracting. "Navillus today remains strong as ever with an eye on continued growth in our future." Throughout the Chapter 11 process, Navillus, which maintains a $750M project workload, has not lost a single contract, retained its executive management team and project managers as well as all relationships with vendors, subcontractors and clients. [Wednes]day's approval comes as a result of an August settlement Navillus brokered to end its dispute with the unions, which vacated the court's original judgment in its entirety. "Ultimately, Donal and the Navillus team are highly-regarded by the building industry, unions members, project owners, construction managers and surety providers which paved their way for this successful result," said Christopher Wu, a senior managing director of Teneo Capital who serves as financial advisor to the Company. "Navillus can now better focus on growing its core business of building super structures, general contracting work and expanding into more infrastructure related projects." Founded in 1987, Navillus is a New York City-based construction company specializing in commercial concrete, masonry, tile, stone, and general contracting. With more than 30 years of experience and outstanding capabilities in cost estimation, value engineering, and project management, Navillus has played a leadership role in many of the region's most highly recognized and iconic infrastructure and private-sector projects. They have also consistently donated time and resources to communities in need, including assistance with emergency response efforts after recent hurricane Florence, Hurricane Irma, Hurricane Sandy and the 2010 earthquake in Haiti. Navillus is currently working on several major projects in NYC including: * One Vanderbilt – Superstructure concrete work for One Vanderbilt Avenue, a 1401-ft.-high, 58-story tower that will stand as the tallest office building in Midtown Manhattan * One Manhattan West – 2,100,000 square feet, 67-floor, 1000-ft.-high commercial property * Five major New York City Housing Authority restoration projects * Ongoing public jobs with the Metropolitan Transit Authority, NYC School Construction Authority, and the Triborough Bridge and Tunnel Authority Navillus' CEO also reaffirmed his appreciation and respect for the tens of thousands of union workers Navillus has employed throughout its 30-year history. C. Nathan Dee and Elizabeth Aboulafia of Cullen and Dykman LLP served as lead debtor's counsel. About Navillus Tile Navillus Tile Inc., is one of the largest subcontractors and general contractors in New York, specializing as a high-end concrete and masonry subcontractor on large private and public construction projects in the New York metropolitan area. Navillus works closely with many of New York's most prominent architects, builders, owners, government agencies and institutions and is pre-qualified by numerous commercial and government agencies. Navillus operates its business from a midtown Manhattan headquarters which it has leased since 2015. Donald O'Sullivan, which founded the business with his brothers, is the sole director, president and chief executive officer of Navillus. Navillus Tile filed for Chapter 11 bankruptcy (Bankr. S.D.N.Y. Case No. 17-13162) on Nov. 8, 2017, estimating $100 million to $500 million in assets and debt. Judge Sean H. Lane is the case judge. Cullen and Dykman LLP is the Debtor's legal counsel. Otterbourg P.C., serves as special litigation and conflicts counsel. Garden City Group, LLC, is the claims agent and administrative advisor. On Nov. 28, 2017, the U.S. Trustee for Region 2 appointed an official committee of unsecured creditors. Hahn & Hessen LLP is the committee's bankruptcy counsel. By stipulation and order entered May 25, 2018, the Court approved the appointment of a fee examiner in the Debtors' case. The U.S. Trustee appointed Diana G. Adams, Esq., as fee examiner. NEIGHBORHOOD BARRE: Has Until Nov. 16 to File Plan and Disclosures ------------------------------------------------------------------ Bankruptcy Judge Jack B. Schmetterer extended the deadline for Neighborhood Barre, LLC, to file a plan and disclosure statement to Nov. 16, 2018. About Neighborhood Barre Neighborhood Barre, LLC, sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ill. Case No. 18-14703) on May 21, 2018. In the petition signed by Holly Blakeley, owner, the Debtor estimated assets of less than $100,000 and liabilities of less than $500,000. Judge Carol A. Doyle presides over the case. David P. Lloyd, Ltd., is the Debtor's counsel. NMN HOLDINGS III: Moody's Assigns B2 CFR, Outlook Stable -------------------------------------------------------- Moody's Investors Service assigned a B2 Corporate Family Rating and a B2-PD Probability of Default Rating to NMN Holdings III Corp. Moody's also assigned a B1 rating to the company's proposed first lien credit facilities as detailed. The rating outlook is stable. Proceeds from the proposed $330 million first lien term loan, an unrated $130 million second lien term loan and sponsor equity provided by affiliates of AEA Investors LP will be used to acquire Numotion from its existing owners. NMN Holdings III Corp. Corporate Family Rating at B2 Probability of Default Rating at B2-PD $50 million first lien Gtd senior secured revolving credit facility due 2023 at B1 (LGD3) $330 million first lien Gtd senior secured term loan due 2025 at B1 (LGD3) $70 million first lien Gtd senior secured delayed draw term loan due 2025 at B1 (LGD3) Outlook Actions: Issuer: NMN Holdings III Corp. Outlook, Assigned Stable RATINGS RATIONALE Numotion's B2 Corporate Family Rating reflects the company's narrow business profile as a provider of complex wheelchairs and related accessories to adult and pediatric end-users with permanent ambulatory disabilities. The ratings also reflect the company's high financial leverage with debt/EBITDA expected to be in the high six times range at closing. Moody's expects underlying demand will grow modestly, in line with population growth and pricing will remain relatively stable. The company's ratings also benefit from the company's leading market position with the largest network of skilled assistive technology professionals. The company also benefits from very good liquidity as Moody's expects the company will generate meaningfully positive free cash flow and will have access to a $50 million revolving credit facility which is expected to remain undrawn. The B1 rating assigned to the company's first lien credit facilities reflects the benefit of loss absorption provided by the company's unrated $130 million second lien term loan. The stable rating outlook reflects its expectations that debt/EBITDA will approach the low six times range over the next year, primarily as the company continues to deliver organic earnings growth. Ratings could be upgraded if the company continues to demonstrate growth at least in line with the overall market while maintaining balanced financial policies. Quantitatively ratings could be upgraded if debt/EBITDA was sustained below five times. Ratings could be downgraded if the company is unsuccessful integrating recent acquisitions or if revenues and margins are pressured. Quantitatively ratings could be downgraded if debt/EBITDA is sustained above 6.25 times or if the company's liquidity profile were to erode. Numotion is a leading provider of complex rehabilitation technology mobility solutions in the US, offering complex wheelchairs and related products and accessories to adult and pediatric end-users with permanent ambulatory disabilities. Pro-forma revenues exceed $500 million. The company is being acquired by affiliates of AEA Investors LP and coinvestors. OAK ROCK: Plan Adds UCC Statement of Position Against Lenders ------------------------------------------------------------- Oak Rock Financial, LLC, filed with the U.S. Bankruptcy Court for the Eastern District of New York its amended disclosure statement in support of its amended joint plan of liquidation dated Oct. 5, 2018. This latest filing provides the Official Committee of Unsecured Creditors' statement of position regarding its claims against the lenders. The UCC has indicated that persons receiving the Amended Disclosure Statement should be advised of some information in order to correct, according to the UCC, inaccurate or misleading statements in the Disclosure Statement that have been carried over into this Amended Disclosure Statement. The Plan Proponents do not adopt, and the Lenders reject virtually each assertion in, the UCC's Statement of Position. A copy of the Latest Disclosure Statement is available for free at: http://bankrupt.com/misc/nyeb8-13-72251-1344.pdf About Oak Rock Financial Oak Rock Financial LLC, an asset-based lender, put itself into Chapter 11 in the U.S. Bankruptcy Court in Central Islip, New York (Bankr. E.D.N.Y. Case No. 13-72251) on May 6, 2013. The Debtor put itself into Chapter 11 in response to the Chapter 7 involuntary petition filed by its creditors, including Israel Discount Bank of New York, Bank Leumi USA, and Bank Hapoalim B.M., on April 29, 2013. The petitioning creditors had claimed the specialty asset-based lending firm has committed a "massive fraud" against its secured lenders. The Debtor disclosed assets of $131.1 million and debt totaling $99.9 million in the Chapter 11 papers. Judge Robert E. Grossman presides over the case. The Debtor tapped LaMonica Herbst & Maniscalco, LLP as its legal counsel. The Debtor filed a disclosure statement for its proposed Chapter 11 plan of liquidation on May 3, 2018. OUR TOWN ASSOCIATES: Hires Yockey & Associates as Accountant ------------------------------------------------------------ Our Town Associates, LLC, seeks authority from the U.S. Bankruptcy Court for the Eastern District of Virginia to employ Yockey & Associates, P.C., as accountant to the Debtor. Our Town Associates requires Yockey & Associates to: a. review of Debtor's records for asset analysis and recovery; b. review the Debtor's monthly operating reports prior to filing them to ensure they are consistent with accounting principles; c. review and revise the Debtor's bookkeeping records to ensure they are prepared consistent with accounting principles; d. prepare and post any appropriate adjusting journal entries; and e. assist with other accounting services as requested regarding the operations, management and reorganization of the Debtor's financial affairs. Yockey & Associates will be paid at these hourly rates: Pat Yockey $175 Bookkeeper $65 On July 17, 2018, the Debtor paid Yockey & Associates a retainer in the amount of $5,000. Yockey & Associates will also be reimbursed for reasonable out-of-pocket expenses incurred. Pat Yockey, partner of Yockey & Associates, P.C., assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. Yockey & Associates can be reached at: Pat Yockey YOCKEY & ASSOCIATES, P.C. 109 East Main St., Suite 400 Norfolk, VA 23510 Tel: (757) 216-4634 Fax: (216) 216-4636 About Our Town Associates Our Town Associates, LLC, based in Virginia Beach, VA, filed a Chapter 11 petition (Bankr. E.D. Va. Case No. 18-72950) on Aug. 22, 2018. In its petition, the Debtor disclosed $3,105,463 in assets and $3,486,042 in liabilities. The petition was signed by Jon S. Wheeler, manager of Boulevard Capital, LLC, managing member. Crowley Liberatore Ryan & Brogan, P.C., serves as counsel to the Debtor. OXFORD ASSOCIATES: Effective Date of Hudson Amended Plan Disclosed ------------------------------------------------------------------ Hudson View Owners Corp., a secured creditor of Oxford Associates Group, Inc., filed with the U.S. Bankruptcy Court for the Southern District of New York a first amended disclosure statement in connection with its proposed first amended plan of liquidation. The first amended disclosure statement provides that the Effective Date of the Amended Plan is the date that is 15 days after the Confirmation Date, or, if such date is not a Business Day, the next succeeding Business Day; provided, however, that if all Conditions Precedent to the Effective Date have not been satisfied or waived, if subject to waiver, on or prior to such date, then the Effective Date will be the next succeeding date on which all such Conditions Precedent to the Effective Date have been satisfied or waived, if subject to waiver. A copy of the Secured Creditor's First Amended Disclosure Statement is available for free at: http://bankrupt.com/misc/nysb17-12487-107.pdf About Oxford Associates Group Inc. Oxford Associates Group Inc., a New York corporation, owns 39 residential cooperative units located along Warburton Avenue, Yonkers. The Debtor sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Case No. 17-12487) on September 5, 2017. George Kyriakoudes, president, signed the petition. At the time of the filing, the Debtor disclosed that it had estimated assets and liabilities of $1 million to $10 million. Judge Mary Kay Vyskocil presides over the case. The Debtor hired Pick & Zabicki LLP as its legal counsel. PACHANGA INC: Seeks to Hire Rubin LLC as Bankruptcy Counsel ----------------------------------------------------------- Pachanga, Inc., and its debtor-affiliates, seek authority from the U.S. Bankruptcy Court for the Southern District of New York to employ Rubin LLC, as bankruptcy counsel to the Debtors. Pachanga, Inc. requires Rubin LLC to: (a) provide legal advice with respect to the powers and duties of the Debtors as a debtors in possession in the operation and management of their business; (b) represent the Debtors before the Court and at hearings on matters pertaining to their affairs, as debtors in possession, including prosecuting and defend litigated matters that may arise during the Chapter 11 Cases; (c) represent the Debtors in formulating and prosecuting a plan of reorganization; (d) represent the Debtors at any meeting of creditors and confirmation hearing, and any adjourned hearings thereof; (e) prepare on behalf of the Debtors the necessary applications, answers, orders, reports, documents, and other legal papers which may be required in the Chapter 11 Cases; and (f) perform such other legal services for the Debtors that may be appropriate and necessary. Rubin LLC will be paid at these hourly rates: Attorneys $400-$525 Associates $$375 Paralegals $75 The Debtors paid a $100,000 retainer to Rubin LLC on August 15, 2018. Rubin LLC applied $52,975 from the Retainer for legal services provided in the period following receipt of the Retainer and before the Petition Date. The amount of $47,025 remains from the Retainer and is being held by Rubin LLC without being applied to any fees or expenses incurred post-petition pending approval of a fee application by the Bankruptcy Court. Rubin LLC will also be reimbursed for reasonable out-of-pocket expenses incurred. Paul A. Rubin, partner of Rubin LLC, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtors and their estates. Rubin LLC can be reached at: Paul A. Rubin, Esq. Hanh V. Huynh, Esq. RUBIN LLC 345 Seventh Avenue, 21st Floor New York, NY 10001 Tel: (212) 390-8054 Fax: (212) 390-8064 E-mail: prubin@rubinlawllc.com hhuynh@rubinlawllc.com About Pachanga, Inc. Fika -- https://www.fikanyc.com/ -- is a Manhattan-based coffee chain heavily inspired by Swedish heritage and flavors with an innovative and modern twist. FIKA opened its doors to its very first location at Central Park South, on Manhattan's 58th street in September of 2006. Pachanga, Inc., d/b/a FIKA, and certain of its affiliates sought Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No. 18-12767) on Sept. 14, 2018. In the petitions signed by Lars Akerlund, president, the Debtors disclosed $526,539 in assets and $13,329,636 in debt. The case is assigned to Judge Michael E. Wiles. Rubin LLC is the bankruptcy counsel, and SSG Advisors, LLC, is the investment banker. PACHANGA INC: Seeks to Hire SSG Advisors as Investment Banker ------------------------------------------------------------- Pachanga, Inc., and its debtor-affiliates seek authority from the U.S. Bankruptcy Court for the Southern District of New York to employ SSG Advisors, LLC, as investment banker to the Debtors. Pachanga, Inc., requires SSG Advisors to: a. prepare an information memorandum describing the Debtors, their historical performance and prospects; b. assist the Debtors in developing a list of suitable potential buyers who will be contacted; c. coordinate the execution of confidentiality agreements for potential buyers wishing to review the information memorandum and review and compilation of information to be supplied in an electronic data room; d. assist the Debtors in coordinating site visits for interested buyers and work with the management team to develop appropriate presentations for such visits; e. solicit competitive offers from potential buyers; f. advise and assist the Debtors in structuring the sale transaction and negotiating the sale transaction agreements; and g. assist the Debtors and their other professionals, as necessary, through closing on a best efforts basis. SSG Advisors will be paid as follows: -- Initial Fee. An initial fee equal to $25,000 due upon execution of the Agreement. The initial fee will be credited in full against the Sale Fee. -- Monthly Fees. Monthly fees of $25,000 (the "Monthly Fee") per month payable on the 15th day of each month, beginning September 15, 2018. The monthly fees will be credited in full against the Sale Fee. -- Sale Fee. Upon the consummation of a sale to any party, other than FIKA Acquisitions, SSG shall be entitled to a fee (the "Sale Fee"), payable in cash, in federal funds via wire transfer or certified check, at and as a condition of closing such Sale, equal to the greater of (a) $300,000 or (b) five percent (5%) of Total Consideration (as that term is defined in the Agreemnt). In the event the Debtors either (i) sell their assets to FIKA Acquisitions in a sale out of court, or (ii) execute a definitive agreement for FIKA Acquistions to serve as the stalking horse purchaser in a sale pursuant to section 363 of the Bankruptcy Code, and such sale closes, SSG shall be entitled to a Sale Fee equal to $175,000. -- Expenses. In addition to the foregoing fees, whether or not a sale transaction is consummated, SSG will be entitled to reimbursement for all of SSG's reasonable out- of-pocket expenses, incurred in connection with the subject matter of the Agreement. J. Scott Victor, managing director of SSG Advisors, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. SSG Advisors can be reached at: J. Scott Victor SSG ADVISORS, LLC 300 Barr Harbor Drive, Suite 420 West Conshohocken, PA 19428 Tel: (610) 940-1094 About Pachanga, Inc. Fika -- https://www.fikanyc.com/ -- is a Manhattan-based coffee chain heavily inspired by Swedish heritage and flavors with an innovative and modern twist. FIKA opened its doors to its very first location at Central Park South, on Manhattan's 58th street in September of 2006. Pachanga, Inc., d/b/a FIKA, and certain of its affiliates sought Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No. 18-12767) on Sept. 14, 2018. In the petitions signed by Lars Akerlund, president, the Debtors disclosed $526,539 in assets and $13,329,636 in debt. The case is assigned to Judge Michael E. Wiles. Rubin LLC is the bankruptcy counsel, and SSG Advisors, LLC, is the investment banker. PACIFIC DRILLING: Oct. 31 Plan Confirmation Hearing --------------------------------------------------- Judge Michael E. Wiles of the U.S. Bankruptcy Court for the Southern District of New York issued an order approving the disclosure statement explaining Pacific Drilling S.A., et al.'s plan. October 24, 2018, is fixed as the last date for filing written objections to the confirmation of the Plan, and October 31, at 10:00 A.M., is fixed as the date of hearing of confirmation of the Plan. About Pacific Drilling Pacific Drilling S.A. (OTC: PACDQ) a Luxembourg public limited liability company (societe anonyme), operates an international offshore drilling business that specializes in ultra-deepwater and complex well construction services. Pacific Drilling -- http://www.pacificdrilling.com/-- owns seven high-specification floating rigs: the Pacific Bora, the Pacific Mistral, the Pacific Scirocco, the Pacific Santa Ana, the Pacific Khamsin, the Pacific Sharav and the Pacific Meltem. All drillships are of the latest generations, delivered between 2010 and 2014, with a combined historical acquisition cost exceeding $5.0 billion. The average useful life of a drillship exceeds 25 years. On Nov. 12, 2017, Pacific Drilling S.A. and 21 affiliates each filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 17-13193). The cases are pending before the Honorable Michael E. Wiles and are jointly administered. Pacific Drilling disclosed $5.46 billion in assets and $3.18 billion in liabilities as of Sept. 30, 2017. The Debtors tapped Sullivan & Cromwell LLP as bankruptcy counsel but was later replaced by Togut, Segal & Segal LLP; Evercore Partners International LLP as investment banker; AlixPartners, LLP, as restructuring advisor; Alvarez & Marsal Taxand, LLC as executive compensation and benefits consultant; Ince & Co LLP and Jones Walker LLP as special counsel; and Prime Clerk LLC as claims and noticing agent. The RCF Agent tapped Shearman & Sterling LLP, as counsel, and PJT Partners LP, as financial advisor. The ad hoc group of RCF Lenders engaged White & Case LLP, as counsel. The SSCF Agent tapped Milbank Tweed, Hadley & McCloy LLP, as counsel, and Moelis & Company LLC, as financial advisor. The Ad Hoc Group of Various Holders of the Ship Group C Debt, 2020 Notes and Term Loan B tapped Paul, Weiss, Rifkind, Wharton & Garrison, in New York as counsel. PARADIGM DEVELOPMENT: Seeks to Hire Scott B. Riddle as Attorney --------------------------------------------------------------- Paradigm Development, LLC, seeks authority from the U.S. Bankruptcy Court for the Northern District of Georgia to employ the Law Office of Scott B. Riddle, as attorney to the Debtor. Paradigm Development requires Scott B. Riddle to: (a) advise the Debtor with respect to its rights, powers, duties, and obligations as a Debtor-In-Possession in the administration of this case, the operation of its business, and the management of its property; (b) prepare pleadings, applications, and conduct examinations incidental to administration; (c) advise and represent the Debtor in connection with all applications, motions, or complaints for reclamation, adequate protection, sequestration, relief from stays, appointment of a trustee or examiner, and all other similar matters; (d) develop the relationship of the status of Debtor-in- Possession to the claims of creditors in these proceedings; (e) advise and assist the Debtor-in-Possession in the formulation and presentation of a Plan of Reorganization pursuant to chapter 11 of the Bankruptcy Code and concerning any and all matters relating thereto; and (f) perform any and all other legal services incident and necessary herein. Scott B. Riddle will be paid at the hourly rate of $350. The firm will be paid a retainer in the amount of $10,000. It will also be reimbursed for reasonable out-of-pocket expenses incurred. Scott B. Riddle, managing partner of the Law Office of Scott B. Riddle, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. Scott B. Riddle can be reached at: Scott B. Riddle, Esq. LAW OFFICE OF SCOTT B. RIDDLE, LLC 3340 Peachtree Road, NE Suite 1800 Tower Place Atlanta, GA 30326 Tel: (404) 815-0164 Fax: (404) 815-0165 E-mail: scott@scottriddlelaw.com About Paradigm Development Paradigm Development, LLC, is a privately held company in the commercial land subdivision business. Its principal assets are located at 60 Chamisa Road Covington, GA 30016. Paradigm Development, based in Oxford, GA, filed a Chapter 11 petition (Bankr. N.D. Ga. Case No. 18-66580) on Oct. 1, 2018. In the petition signed by Milton Hancock, managing member, the Debtor estimated $1 million to $10 million in assets and $500,000 to $1 million in liabilities. Scott B. Riddle, Esq., at the Law Office of Scott B. Riddle, serves as bankruptcy counsel. PC 12 INC: Seeks to Hire Eron Law, P.A., as Bankruptcy Counsel -------------------------------------------------------------- PC 12, Inc., seeks authority from the U.S. Bankruptcy Court for the District of Kansas to employ Eron Law, P.A., as bankruptcy counsel to the Debtor. PC 12, Inc., requires Eron Law, P.A.to: a. advise the Debtor of its rights, powers and duties as Debtor-in-Possession, including those with respect to the continued operation and management of its business and property; b. advise the Debtor concerning and assist in the negotiation and documentation of financing agreements, cash collateral orders, and related transactions, as necessary; c. investigate into the nature and validity of liens asserted against the property of the Debtor, and advise the Debtor concerning the enforceability of said liens; d. investigate and advise the Debtor concerning and take such action as may be necessary to collect income and assets in accordance with applicable law, and recover property for the benefit of the Debtor's estate; e. prepare on behalf of the Debtor such applications, motions, pleadings, orders, notices, schedules and other documents as may be necessary and appropriate, and review the financial and other reports to be filed therein; f. advise the Debtor concerning and prepare responses to applications, motions, pleadings, notices and other documents which may be filed and served herein; g. counsel the Debtor in connection with the formulation, negotiation and promulgation of plan or plans and related documents; and h. perform such other legal services for and on behalf of the Debtor as may be necessary or appropriate in the administration of the case. Eron Law, P.A., will be paid at these hourly rates: William H. Zimmerman, Jr. $275 David Eron $275 January Bailey $250 Eron Law, P.A., will also be reimbursed for reasonable out-of-pocket expenses incurred. William H. Zimmerman, Jr., a partner at Eron Law, P.A., assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. Eron Law, P.A., can be reached at: William H. Zimmerman, Jr., Esq. ERON LAW, P.A. 229 E. William, Suite 100 Wichita, KS 67202 Tel: (316) 262-5500 Fax: (316) 262-5559 E-mail: zim@eronlaw.net About PC 12, Inc. PC 12, Inc., filed a Chapter 11 bankruptcy petition (Bankr. D. Kan. Case No. 18-11928) on Oct. 2, 2018, estimating under $1 million in assets and liabilities. The Debtor is represented by William H. Zimmerman, Jr., Esq., at Eron Law, P.A. PEORIA REGIONAL: Plan Discloses OK of Property Sale to ADB ---------------------------------------------------------- Peoria Regional Medical Center, LLC, filed a second amended disclosure statement in support of its first amended plan of reorganization dated Oct. 5, 2018. The Debtor discloses in this latest filing that the Court entered an order authorizing the sale of the Maricopa County property. The sale will be to ADB Investments, L.L.C. and/or its nominee. The sale will be free and clear of liens, claims, and interests, with any liens, claims and interests to attach to the sale proceeds. ADB has requested, and the Debtor has agreed, subject to Court approval, of a cost reimbursement if ADB is not the successful bidder. ADB, however, was the successful bidder, so cost reimbursement is not required. A copy of the Second Amended Disclosure Statement is available for free at: http://bankrupt.com/misc/azb2-17-11742-127.pdf About Peoria Regional Medical Center Headquartered in Mesa, Arizona, Peoria Regional Medical Center, LLC, aka Peoria Hospital LLC, owns an unfinished medical center located at 26320 Lake Pleasant Parkway, Peoria, Arizona. The medical center was intended to be the city's first full-service general acute-care hospital. The Peoria Building Board of Appeals had ordered the demolition of the structure indicating that the structure was an unattractive nuisance and a hazardous building. Peoria Regional Medical Center filed for Chapter 11 bankruptcy protection (Bankr. D. Ariz. Case No. 17-11742) on Oct. 4, 2017, estimating its assets at up to $50,000 and its liabilities at between $1 million and $10 million. The petition was signed by Timothy A. Johns, manager. Judge Scott H. Gan presides over the case. Heather Ann Macre, Esq., at Aiken Schenk Hawkins & Ricciardi P.C., serves as the Debtor's bankruptcy counsel. No official committee of unsecured creditors has been appointed in the Debtor's case. PHOENIX RISES: Latest Plan Provides Two Means of Reorganization --------------------------------------------------------------- The Phoenix Rises, LLC, submits an amended disclosure statement for its amended plan of reorganization dated Oct. 5, 2018. The amended plan provides for two means of reorganization. The first is to obtain Exit Financing in an amount sufficient to satisfy the Allowed National Loan Investors, L.P. Secured Claim. The NLI Secured Claim will then be assigned to the Debtor's new lender, with the SBA retaining its lien on the Brooklyn, New York Property, junior only to any mortgage or assignee of the NLI Note and Security Documents in connection with the Exit Financing. The Debtor's remaining unsecured creditors will be paid in full by the Debtor over two years from funds contributed by the Debtor’s principals or from collections for the use of the Property. If the Debtor is unable to obtain Exit Financing and cannot pay the Allowed NLI Secured Claim by December 31, 2018, then the Debtor will market the Property for sale using a broker that is retained by the Court and the Property will be sold pursuant to the Bidding Procedures attached to the Plan. From the sale Proceeds, Creditors will be paid pursuant to their statutory priorities as set forth in the Plan. A full-text copy of the redlined version of the Amended Disclosure Statement is available for free at: http://bankrupt.com/misc/nyeb1-18-42184-32-1.pdf About The Phoenix Rises The Phoenix Rises, LLC, owns the real property and improvements located at 934 E. 51st Street, Brooklyn, New York. Phoenix Rises sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y. Case No. 18-42184) on April 19, 2018. In the petition signed by Mark Bobb, managing member, the Debtor estimated assets of $1 million to $10 million and liabilities of less than $1 million. Judge Elizabeth S. Stong presides over the case. PRANA YOGA: Unsecureds to Receive Annual Sum of $1K Over 3 Years ---------------------------------------------------------------- Prana Yoga, LLC, filed a disclosure statement in connection with its plan of reorganization, dated Oct. 5, 2018, which provides for the restructuring of the debt obligations of the Debtor with the potential for discharge of certain indebtedness existing at the commencement of the case. Unsecured creditors in Class 6 will receive a prorate distribution of the annual sum of $1,000, which will be paid to this Class for three successive years commencing one year after Confirmation of the Plan. This Class is impaired. The Debtor has prepared projections of the expected operating and financial results of reorganized Debtor for a period of three years. Based on those projections, Debtor believes that the Plan complies with the financial feasibility standard for confirmation. The Debtor believes the results set forth in the projections are attainable and that it will have sufficient funds to meet its obligations under the Plan and otherwise. A copy of the Disclosure Statement is available for free at: http://bankrupt.com/misc/innb18-10819-58.pdf About Prana Yoga Prana Yoga, LLC, filed a Chapter 11 petition (Bankr. N.D. Ind. Case No. 18-10819) on May 8, 2018. It is organized in the state of Indiana and operates a yoga instruction and training studio in Fort Wayne, IN. In the petition signed by Danielle M. McGuire, member, the Debtor estimated at least $50,000 in assets and $100,001 to $500,000 in liabilities. The Debtor is represented by Daniel J. Skekloff, Esq. at Haller & Colvin, PC. RESOLUTE ENERGY: Provides Preliminary Q3 Production Results ----------------------------------------------------------- Resolute Energy Corporation provided preliminary third quarter 2018 production results and an operations update. Aggregate third quarter 2018 production averaged approximately 34,750 barrel of oil equivalent per day, an increase of 45 percent from the second quarter. Third quarter 2018 oil production averaged approximately 15,740 barrels of oil per day, an increase of approximately 47 percent over second quarter 2018. Year over year, third quarter Boe production increased 54 percent and oil production increased approximately 40 percent, both pro forma for the divestiture of the Aneth Field assets. Growth in production is being driven by the Company's successful ongoing development program. During the quarter, the Company spud six wells, reached total depth on thirteen wells and placed eighteen wells on production. Third quarter 2018 net loss is expected to increase compared to the second quarter net loss of $3.7 million due in large part to the effect of non-cash mark-to-market derivative losses. Third quarter 2018 Adjusted EBITDA is expected to be nearly double second quarter 2018 Adjusted EBITDA of $33.7 million. This significant increase in expected Adjusted EBIDTA is being driven by stronger production volumes, as well as lower unit operating and overhead costs. The Company's third quarter 2018 cost structure is expected to have improved substantially from second quarter as a result of lower per unit lease operating expense and cash-based general and administrative expense, primarily due to significantly higher production volumes with only moderately higher absolute operating costs and modestly lower cash general and administrative expenses from quarter to quarter. Based on the strong results from the Company's drilling program, the borrowing base under the Company's revolving credit facility was increased nearly 50% from $210 million to $310 million. This $100 million increase ensures that the Company will continue to have sufficient liquidity to prosecute its business plan. At Sept. 30, 2018, the Company had approximately $200 million of availability under the revolving credit facility. Rick Betz, Resolute's chief executive officer, said: "As expected, our 2018 development program has begun to pay dividends in the form of significantly increased production and cash flow. Having now finished drilling four multi-well pads, we have advanced our understanding of how to execute these large capital programs and are collecting the technical data that will help us continue to improve the productivity of our assets. As with other producers making the shift to multi-well pad drilling in the Basin, we learn more about the reservoir and subsurface interactions with every well we drill. Additionally, through a period of intense infrastructure challenges, our midstream arrangements have served us well as we continue to move product to end markets with no significant curtailments and continue to dispose of significant quantities of produced water at advantageous rates. As we close out the 2018 program and look forward to 2019, we remain committed to a pad-based development program that grows production while spending within cash flow." Resolute's Board of Directors, in conjunction with its financial advisors, has continued to monitor the Company's competitive positioning in the Permian Basin in light of the improving industry conditions, the strong macroeconomic backdrop and recent transactional activity. As part of its ongoing effort to maximize stockholder value, the Board continues to evaluate all alternatives available to the Company, including potential strategic combinations, while the Company continues its Delaware Basin drilling program. Operations update The Company has completed drilling operations on 32 of the 42 wells included in its 2018 development program. These wells are in four individual well packs, two of which are in the Appaloosa area (the Ranger nine-well pack and the South Mitre eight-well pack) and two of which are in the Mustang area (both nine-well packs in the Sandlot unit). The Company has finished completion operations on 28 wells so far this year including 21 of the 32 new drills, six DUCs carried over from 2017 (three wells in the Ranger nine pack and three Lower Wolfcamp wells), and one recompletion associated with the South Mitre well pack in Appaloosa. Completion operations will begin in mid-October on the second Sandlot nine pack, bringing our completions in 2018 to 37 total wells. The Company anticipates these Sandlot wells will be placed on production in November. As anticipated, the Company's pad-focused drilling and completion activity has resulted in significant growth in both production and cash flow in the third quarter, with oil production increasing 47% from the second quarter of 2018 and Adjusted EBITDA anticipated to grow by nearly 100%. The Company anticipates it will see significant growth in oil production and cash flow in the fourth quarter, although at a less robust rate than the third quarter as fewer new wells will be placed on production and those wells will come on later in the quarter. While oil production increased 47% from the second quarter, the Company also saw strong growth in gas and natural gas liquids during the period, which resulted in an overall product mix that was similar to what it experienced in the second quarter. Total production measured in barrels equivalent reflects a growth rate consistent with previously provided guidance, although the percentage of oil in its third quarter production is approximately five points below that guidance, primarily influenced by strong Mustang production. The Company anticipates that over the longer term, its production will be approximately 50% oil as operational activity is more balanced among its various operating areas. The expectation that oil would represent a higher proportion of third quarter production was partially based on anticipated performance from the Ranger nine pack that was placed on production late in the first quarter of 2018. Located in Appaloosa, these wells generally have higher oil cuts, in the range of 58-60% for the Wolfcamp A, than other areas of the field, materially influencing both the aggregate level of oil production and the oil component of total production. The three UWCA wells and the WCC well in this well pack have shown performance consistent with its expectations from a total production as well as an oil cut perspective. However, while oil cut from the three LWCA and two UWCB wells is consistent with its expectations, total production from these wells has underperformed its expectations, leading to lower aggregate oil production for the quarter. The table below presents production rates for this well pack. Based on the extensive data gathering and analytics, including microseismic analysis of the completions, tracer analysis during flowback, real time rock property data gathered during drilling and downhole pressure measurement, the Company has identified modifications which it is implementing in its drilling elsewhere in the field and which the Company believes should improve future well performance, particularly in the LWCA and the UWCB zones. The most significant change has been to widen the vertical spacing between the wells by adjusting landing zones for the lower wells to increase the stimulated rock volume within the well pack. The Company is testing this modified spacing in both the South Mitre well pack in Appaloosa and the second Sandlot nine pack in Mustang. The Company will evaluate any impact these changes may have on its overall inventory as it gathers more data. Third quarter production volumes and composition were also influenced by the Company's second nine-well pack in the Sandlot unit in Mustang, which was brought on production in mid-July. Along with strong oil production, Mustang wells typically produce at higher gas and NGL rates than wells drilled in Appaloosa. The Sandlot nine-well group consists of three UWCA wells, three LWCA wells and three UWCB wells, with average completed lateral lengths of approximately 6,200 feet. The Sandlot well pack was drilled using the same vertical spacing as the Ranger well pack. Overall these wells are performing close to expectations, and the well pack has exhibited a lesser degree of the relative performance differences between the UWCA and the LWCA and UWCB wells experienced in the Ranger wells. In late September, the Company brought online the South Mitre well pack. This well pack includes three UWCA wells, two LWCA wells and three UWCB wells. The ninth well in this pack is a LWCA well originally completed in July 2016. In order to gauge the potential benefits of wider vertical spacing in Appaloosa, for now the Company has left the two LWCA wells uncompleted while watching the interactions among the remaining wells during completion using microseismic data and evaluating the production response of the UWCA and UWCB wells. The six wells that have been completed have an average completed lateral length of approximately 9,684 feet. Two weeks into their flowback, the wells are producing more than 4,700 Boe per day (58% cumulative oil) in aggregate as of the date of this release, and have not yet reached peak rates. The Company will gather production data from these wells and the Ranger nine-pack over the next few months to assist in its ongoing process of determining the optimal vertical spacing in Appaloosa. Deferring completion of the two LWCA wells in South Mitre unit will impact the Company's fourth quarter production somewhat. The Company recently finished drilling operations on the fourth nine-pack, located in the Sandlot unit in Mustang. The second Sandlot well pack was drilled using wider vertical spacing. In particular, the UWCB wells were drilled lower in the section than previous UWCB landing zones. The Company anticipates that this approach will result in improved well performance for both the LWCA and UWCB wells. The Company will gather and evaluate production data from these wells and the first Sandlot nine-pack to assist in determining the optimal vertical spacing in Mustang. Consistent with the Company's previously announced schedule, the Company released one of its three drilling rigs at the conclusion of drilling operations on the second Sandlot nine-pack. In order to provide time to analyze recently acquired 3D seismic covering the Appaloosa area as well as the impact on well performance of adjusted vertical well spacing, the Company has elected to defer the drilling of the next Appaloosa well pack and will employ the two remaining drilling rigs to first drill four Mustang wells targeting Lower Wolfcamp zones that will be completed in early 2019. These four wells include one LWCB well and three WCC wells. After finishing drilling operations on these four Lower Wolfcamp wells in Mustang, the Company currently anticipates the rigs will move to the third well pack in the Sandlot unit in late November, with all of the wells to be completed in 2019. Through the first four well packs in the 2018 program, the Company anticipates that drilling and completions capital expense will be substantially in line with its original budget. Facilities capital for these well packs has run somewhat higher than plan due to the need to handle higher than anticipated gas and water volumes. Overall for the year, after adjustments to the development plan noted above, the Company expects total capital to be below the midpoint of our original guidance range. A full-text copy of the press release is available for free at: https://is.gd/Lz9Mlt About Resolute Energy Based in Denver, Colorado, Resolute Energy Corp. (NYSE:REN) -- http://www.resoluteenergy.com/-- is an independent oil and gas company focused on the acquisition and development of unconventional oil and gas properties in the Delaware Basin portion of the Permian Basin of west Texas. Resolute incurred a net loss available to common shareholders of $7.70 million in 2017 following a net loss available to common shareholders of $161.7 million in 2016. As of June 30, 2018, Resolute Energy had $826.6 million in total assets, $909.40 million in total liabilities and a total stockholders' deficit of $82.77 million. RESOLUTE ENERGY: Wellington Entities Have 10.99% Ownership Stake ---------------------------------------------------------------- In a Schedule 13G/A filed with the Securities and Exchange Commission, Wellington Management Group LLP, Wellington Group Holdings LLP, and Wellington Investment Advisors Holdings LLP disclosed that as of Sept. 28, 2018, they beneficially own 2,545,120 shares of common stock of Resolute Energy Corp, which represents 10.99 percent of the shares outstanding. Wellington Management Company LLP also reported beneficial ownership of 2,514,673 Common Shares (or 10.85%). The securities as to which this Schedule was filed by Wellington Management Group LLP, as parent holding company of certain holding companies and the Wellington Investment Advisers, are owned of record by clients of the Wellington Investment Advisers. Wellington Investment Advisors Holdings LLP controls directly, or indirectly through Wellington Management Global Holdings, Ltd., the Wellington Investment Advisers. Wellington Investment Advisors Holdings LLP is owned by Wellington Group Holdings LLP. Wellington Group Holdings LLP is owned by Wellington Management Group LLP. A full-text copy of the regulatory filing is available at: https://is.gd/B1YvUj About Resolute Energy Based in Denver, Colorado, Resolute Energy Corp. (NYSE:REN) -- http://www.resoluteenergy.com/-- is an independent oil and gas company focused on the acquisition and development of unconventional oil and gas properties in the Delaware Basin portion of the Permian Basin of west Texas. Resolute incurred a net loss available to common shareholders of $7.70 million in 2017 following a net loss available to common shareholders of $161.7 million in 2016. As of June 30, 2018, Resolute Energy had $826.6 million in total assets, $909.40 million in total liabilities and a total stockholders' deficit of $82.77 million. REX ENERGY: Plan Confirmation Hearing Set for Oct. 15 ----------------------------------------------------- The U.S. Bankruptcy Court for the Western District of Pennsylvania is set to hold a hearing on Oct. 15 to consider confirmation of the proposed Chapter 11 plan of liquidation for R.E. Gas Development, LLC and its affiliates. The hearing will be held at 10:00 a.m., at the U.S. Steel Tower, Courtroom D. A copy of the companies' latest liquidating plan is available for free at: http://bankrupt.com/misc/pawb18-22032-966.pdf About Rex Energy Corp. Rex Energy Corporation -- http://www.rexenergy.com/-- and its subsidiaries are independent oil and gas companies operating in the Appalachian Basin, engaged in the acquisition, production, exploration and development of oil, natural gas and natural gas liquids. They are focused on drilling and exploration activities in the Marcellus Shale, Utica Shale and Upper Devonian Shale. Rex Energy is headquartered in State College, Pennsylvania and became a public company in 2007. On May 18, 2018, Chapter 11 cases were filed by Rex Energy Corporation (Bankr. W.D. Pa. Case No. 18-22033) and its affiliates R.E. Gas Development, LLC (Bankr. W.D. Pa. Case No. 18-22032), Rex Energy Operating Corp. (Case No. 18-22034), and Rex Energy I, LLC (Case No. 18-22035). R.E. Gas Development is the lead case. In the petitions signed by Thomas C. Stabley, president and CEO, the Debtors listed total assets of $851,000,957 and total debt of $984,529,090 as of April 30, 2018. Judge Jeffery A. Deller presides over the cases. James D. Newell, Esq., Timothy P. Palmer, Esq., and Tyler S. Dischinger, Esq., at Buchanan Ingersoll & Rooney PC and Scott J. Greenberg, Esq., Michael J. Cohen, Esq., Anna Kordas, Esq., Thomas A. Howley, Esq., and Rachel Biblo Block, Esq., at Jones Day, serve as the Debtors' bankruptcy counsel. The Debtors tapped Perella Weinberg Partners as their investment banker; FTI Consulting, Inc., as financial advisor; and Prime Clerk LLC as claims and noticing agent. The Office of the U.S. Trustee for Region 3 appointed an official committee of unsecured creditors on May 29, 2018. The Committee tapped Brown Rudnick LLP as its lead counsel; and Leech Tishman Fuscaldo & Lampl, LLC, as its local counsel. * * * As reported by the Troubled Company Reporter in Sept. 19, 2018, the Hon. Jeffery A. Deller of the U.S. Bankruptcy Court for the Western District of Pennsylvania, at the behest of R.E. Gas Development, LLC, and its debtor-affiliates, has extended through and including January 15, 2019 the Exclusive Filing Period, and through and including March 14, 2019. RIVER HACIENDA: To Continue Paying U.S. Trustee Quarterly Fees -------------------------------------------------------------- River Hacienda Holdings, LLC, filed with the U.S. Bankruptcy Court for the District of Arizona an amended plan of reorganization dated Oct. 5, 2018. Under the amended plan, the Debtor will continue to pay quarterly fees to the U.S. Trustee until such time as a Final Decree has been entered in the matter by the Court, closing the Chapter 11 case. Debtor will continue to file monthly operating reports until such time as the Court enters an Order confirming this Chapter 11 Plan of Reorganization and/or the end of the calendar quarter in which the Plan was confirmed. At such time, Debtor will cease filing monthly operating reports and will begin filing quarterly post confirmation reports. These quarterly reports will be filed until such time as a Final Decree has been entered in this matter by the Court, closing the Chapter 11 proceeding. A copy of the Amended Plan is available for free at: http://bankrupt.com/misc/azb4-18-00136-210.pdf River Hacienda Holdings, LLC, filed a Chapter 11 petition (Bankr. D. Ariz. Case No. 18-00136) on January 5, 2018, and is represented by Alan R. Solot, Esq. RMH FRANCHISE: Committee Seeks Rejection of Disclosure Statement ---------------------------------------------------------------- The Official Committee of Unsecured Creditors filed an objection to RMH Franchise Holdings, Inc. and affiliates' motion for entry of an order approving their disclosure statement in connection with its proposed plan of reorganization. The Committee has numerous concerns regarding the terms of the Plan requiring additional disclosure to provide creditors adequate information to make an informed voting decision. The Committee's principal concerns are: * The fractional recovery proposed for non-insider unsecured creditors as compared to other creditor treatment; * The enhanced treatment for the Senior Lenders notwithstanding the admitted gaps in the Senior Lenders' collateral package; * The value being provided by ACON to retain ownership of the Debtors; and * The feasibility of the Plan in light of an apparent substantial funding gap. While the Debtors and the Committee may ultimately disagree on the substance of these concerns, there can be no disagreement that creditors must receive sufficient information regarding these issues in accordance with section 1125 of the Bankruptcy Code to make an informed judgment about the Plan. The Disclosure Statement fails to do so with respect to each of the Committee's concerns. The Plan provides for an unquantified fractional recovery for non-insider unsecured creditors which the Committee understands aggregates less than $2 million. The Disclosure Statement not only fails to provide a justifiable reason for such treatment but fails to provide any explanation at all. Notably, the Disclosure Statement does not contain a going concern valuation. The Debtors have only just sought to employ additional personnel to assist with the valuation of the Debtors. Indeed, it is difficult to imagine -- much less make an informed judgment about -- how the Debtors put forth a Plan with proposed distributions to creditors without either a market test or valuation. The Disclosure Statement further fails to provide any meaningful analysis of the claims that are the subject of the Committee's standing motion and the potential implications of such claims on secured and unsecured creditor recoveries. According to the Debtors' own schedules, there are significantly valuable assets that warrant enhanced recoveries if the Committee prevails. The Disclosure Statement must provide greater details regarding the Committee's claims and the potential impact on unsecured creditors if ultimately successful. The Disclosure Statement also fails to provide any explanation for the enhanced treatment being provided to ACON on account of its $33 million unsecured guaranty claim. Rather than the fractional recovery being provided to non-insider unsecured creditors, ACON’s debt will be fully reinstated, including presumably future debt service. The Debtors must provide creditors an explanation for this disparate treatment. In addition, the Disclosure Statement further fails to provide any meaningful information regarding the expected financial condition of the Debtors upon and following emergence from bankruptcy. Without a go-forward business plan, including financial projections, unsecured creditors who are being asked to support future operations cannot assess whether the Debtors will have sufficient liquidity to implement their exit strategy. The $10 million ACON payment and cash on hand will be cannibalized by the proposed Senior Lenders' payment, before even taking into account an unknown amount of cure costs, including a $13 million cure claim by Applebee's. Taken together, the Committee has significant concerns regarding the viability of the Plan in light of the infirmities with the Disclosure Statement. Without a Disclosure Statement that adequately and properly discloses the requisite information for unsecured creditors to assess the treatment they are being afforded and the feasibility of the Plan, the motion should be denied. A full-text copy of the Committee's Objection is available for free at: http://bankrupt.com/misc/deb18-11092-607.pdf As previously reported by the Troubled Company Reporter, each holder of an Allowed General Unsecured Claim in Class 6 under the plan will receive, on the Effective Date, in full and final satisfaction of such claim a distribution equal to 10% of the amount of such Allowed General Unsecured Claim. All Cash required for the payments to be made under the Plan shall be obtained from the Debtors' and the Reorganized Debtors' operations and Cash balances, plus the Plan Sponsor Cash Payment and proceeds from Causes of Action, including the Applebee's Litigation. A full-text copy of the Disclosure Statement dated Sept. 4, 2018 is available at: http://bankrupt.com/misc/deb18-11092-526.pdf Co-Counsel for the Official Committee of Unsecured Creditors: Justin R. Alberto, Esq. Erin R. Fay, Esq. Evan T. Miller, Esq. BAYARD, P.A. 600 N. King Street, Suite 400 Wilmington, Delaware 19801 Telephone: (302) 655-5000 Facsimile: (302) 658-6395 Email: jalberto@bayardlaw.com efay@bayardlaw.com emiller@bayardlaw.com -and- Eric R. Wilson, Esq. Jason R. Adams, Esq. Lauren S. Schlussel, Esq. Maeghan J. McLoughlin, Esq. KELLEY DRYE & WARREN LLP 101 Park Avenue, 27th Floor New York, New York 10178 Telephone: (212) 808-7800 Facsimile: (212) 808-7897 Email: ewilson@kelleydrye.com jadams@kelleydrye.com lschlussel@kelleydrye.com mmcloughlin@kelleydrye.com About RMH Franchise Holdings RMH Franchise, headquartered in Atlanta, Georgia -- https://www.rmhfranchise.com/ -- is an Applebee's restaurant franchisee with over 163 standardized restaurants located across 15 states. RMH Holdings is the direct or indirect parent of each of the other Debtors. ACON Franchise Holdings, LLC, a non-debtor, owns 100% of the shares of RMH Holdings. RMH Franchise Holdings, Inc., and certain of its affiliates filed Chapter 11 petitions (Bankr. D. Del. Lead Case No. 18-11092) on May 8, 2018. In the petitions were signed Michael Muldoon, president, RMH Franchise Holdings estimated assets and liabilities of $100 million to $500 million. Affiliates that concurrently filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code are NuLnk, Inc. (Bankr. D. Del. Case No. 18-11093), RMH Illinois, LLC (Case No. 18-11094), RMH Franchise Corporation (Case No. 18-11095), and Contex Restaurants, Inc. (Case No. 18-11096). The case is assigned to Judge Brendan Linehan Shannon. Young, Conaway, Stargatt & Taylor, LLP, serves as bankruptcy counsel to the Debtors; Mastodon Ventures, Inc., is the restructuring advisor; Hilco Real Estate LLC serves as real estate broker; and Prime Clerk LLC acts as claims and noticing agent. On May 24, 2018, the U.S. Trustee appointed an official committee of unsecured creditors in the Debtors' cases. Kelley Drye & Warren LLP serves as lead counsel to the Committee while Zolfo Cooper LLC acts as bankruptcy consultant and financial advisor. ROCKAWAY WORKFORCE: Secured Creditors Blocks OK of Plan Outline --------------------------------------------------------------- Secured creditors Owens Financial Group, Inc., Seventeen Enterprises, LLC, and Pacifica Land Conservation, LLC filed an objection to Rockaway Workforce Housing Partners, LLC's disclosure statement explaining its chapter 11 plan. The secured creditors object to debtor's disclosure statement as lacking adequate information and underpinning a patently unconfirmable plan. The secured creditors complain that Debtor's assertions and proposals are based on the same misrepresentations it has made through the chapter 11 case. It merely repeats them again, hoping repetition might make them true. The best that can be said is that Debtor identified an individual, Mike Klestoff, who will "take over all ownership and title to 100 percent of the Pacific property from the Debtor." It is impossible to tell if he is taking control of Debtor, or if Debtor is giving him the underlying land. Mr. Klestoff "is providing all future equity required by the Plan, which includes the payment of secured and unsecured creditors." There is no meaningful additional information about Mr. Klestoff, except that he is bought an equity stake in debtor's parent and is involved in unspecified real estate development. There is no information about his finances or commitment. He has not provided sworn testimony or appeared in the case, except for an /s/ signature on the disclosure statement. The disclosure statement also misstates the value of its real property, claiming it is worth $20 million. Debtor claims it has not received any explanation why the new appraisal is less than $5 million but believes that is merely a liquidation appraisal done in anticipation of foreclosure. Debtor ignores the fact that the $20 million valuation was a hypothetical from a 2013 appraisal based on development and sales over a multi-year period. The Disclosure Statement does not contain financial information about the Debtor and how much money the Debtor will have available to make payments nor other adequate information for hypothetical investors to vote on the plan. The adequacy of the Debtor's proposed disclosure statement is insufficient to allow the court to approve it as submitted and supplemented. The Disclosure Statement must not be approved because it pushes a plan that is patently unconfirmable given the factual misrepresentations. A copy of the Secured Creditors' Objection is available at: http://bankrupt.com/misc/nvb18-50535-69.pdf The Troubled Company Reporter previously reported that all classes of creditors will be completely paid under the Plan. If the Plan is not approved, the unsecured creditors will not be paid and the Secured Creditors will foreclose on the property via a public sale. It is uncertain the amount of funds that will be realized by the Secured Creditor if it was to proceed with a foreclosure sale. A copy of the Disclosure Statement from PacerMonitor.com is available at https://tinyurl.com/y9da6cpx at no charge. Attorney for Secured Creditors Owens Financial Group, Inc., Seventeen Enterprises, LLC, and Pacifica Land Conservation, LLC: Louis M. Bubala III, Esq. KAEMPFER CROWELL 50 W. Liberty Street, Suite 700 Reno, Nevada 89501 Telephone: (775) 852-3900 Facsimile: (775) 327-2011 Email: lbubala@kcnvlaw.com About Rockaway Workforce Rockaway Workforce Housing Partners, LLC, is a privately-held company in Stateline, Nevada, engaged in activities related to real estate. Rockaway Workforce sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Nev. Case No. 18-50535) on May 22, 2018. In the petition signed by John Hickey, president, the Debtor estimated assets of $10 million to $50 million and liabilities of $1 million to $10 million. Judge Bruce T. Beesley presides over the case. John White, Esq., at White Law Chartered serves as the Debtor's bankruptcy counsel. ROOFTOP RESTORATION: Income from Operations to Fund Plan -------------------------------------------------------- Rooftop Restoration Inc. filed with the U.S. Bankruptcy Court for the District of Colorado a small business disclosure statement in support of its chapter 11 plan dated Oct. 6, 2018. Based in Morrison, Colorado, the Debtor has been in the business of roofing, roofing restoration, and associated construction repairs since 2014. General unsecured creditors are classified in Class 3 which contains five sub-classes. These sub-classes will receive a distribution as follows: 3A 100%, 3B 16%, 3C 56%, 3D (disputed), and 3E 100% of their allowed claims, to be distributed as follows in either monthly or quarterly payments over the five years of the Plan. Payments and distributions under the Plan will be funded by income from operations. The proposed Plan has the following risks: Debtor is dependent upon the services of its President, Mr. Phillip Coutu. As a roofing business, the Debtor's financial performance is affected by general economic conditions, weather, and the availability of construction materials and labor. Typically, the Debtor provides services after storm damage – the number, duration, and intensity of which are subject to the vagaries of nature. A full-text copy of the Disclosure Statement is available for free at: http://bankrupt.com/misc/cob18-12921-65.pdf Rooftop Restoration, Inc. is a privately held company in Morrison, Colorado engaged in the business of nonresidential building construction. Rooftop Restoration filed for chapter 11 bankruptcy protection (Bankr. D. Colo. Case No.: 18-12921) on April 10, 2018, with estimated assets of $0 to $50,000 and estimated liabilities at $1 million to $10 million. The petition was signed by Philip M. Coutu, president. RU CAB: Plan and Disclosure Statement Hearing Set for Dec. 11 ------------------------------------------------------------- Bankruptcy Judge Nancy Hershey Lord conditionally approved RU Cab Corp.'s disclosure statement describing its chapter 11 plan. A combined hearing to consider final approval of the Disclosure Statement and confirmation of the Plan will be held on Dec. 11, 2018 at 11:30 a.m., before the Honorable Nancy Hershey Lord, in Courtroom 3577, United States Bankruptcy Court, Eastern District of New York, 271-C Cadman Plaza East, Brooklyn, New York 11201. The Troubled Company Reporter previously reported that the Plan incorporates terms of a settlement agreement reached with the primary creditor in the case, Progressive Credit Union, which filed a secured claim in the amount of $370,277. The settlement provides for a surrender of the taxi cab medallions owed by the Debtor, which secure the loan held by Progressive and a repayment of an agreed upon deficiency amount from non-Debtor parties. Upon the complete fulfillment of the terms of the settlement agreement, Progressive will issue releases of the Borrowers, Leonid and Asya Umansky, and the guarantor, the Debtor. A copy of the Disclosure Statement is available at https://tinyurl.com/y8mdx3k9 from PacerMonitor.com at no charge. About RU Cab Corp. RU Cab Corp. is a privately-held company located in Brooklyn, New York, in the taxi and limousine service industry. It owns two taxi medallions valued at $850,000. RU Cab is a small business debtor as defined in 11 U.S.C. Section 101(51D). RU Cab sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y. Case No. 18-41706) on March 28, 2018. In the petition signed by Leonid Umansky, president, the Debtor disclosed $850,000 in assets and $1.35 million in liabilities. Judge Nancy Hershey Lord presides over the case. RUST BELT: Oct. 29 Hearing on Disclosure Statement -------------------------------------------------- The hearing to consider approval of the disclosure statement explaining Rust Belt, LLC's plan is set for October 29, 2018, at 2:00 P.M. Deadline for objections to disclosure statement is October 25. About Rust Belt, LLC Rust Belt, LLC, filed a Chapter 11 bankruptcy petition (Bankr. W.D.N.Y. Case No. 17-10956) on May 9, 2017, disclosing under $1 million in both assets and liabilities. The Debtor is represented by Robert B. Gleichenhaus, Esq., at Gleichenhaus Marchese & Weishaar, PC. SERTA SIMMONS: Moody's Alters Outlook to Negative & Affirms B3 CFR ------------------------------------------------------------------ Moody's Investors Service revised Serta Simmons Bedding, LLC's rating outlook to negative from stable. All ratings were affirmed, including the B3 Corporate Family Rating and B3-PD Probability of Default Rating. This action was prompted by the Chapter 11 bankruptcy filing of Serta Simmons' biggest customer, Mattress Firm, Inc. on October 5, 2018. Mattress Firm represents approximately 25% of Serta Simmons' revenue. "We estimate that Serta will lose around $100 million of revenue and roughly $13 million of EBITDA because of the closing of up to 700 stores as part of Mattress Firm's bankruptcy," said Kevin Cassidy, Senior Credit Officer at Moody's Investors Service. This will increase debt/EBITDA to 7.3 times from 7.0 times. Moody's expects leverage to approach 7 times in 2019 and fall below 7 times in 2020 through earnings growth and debt repayments with internally generated cash," Cassidy stated. However, the risks are now to the downside, reflecting the uncertainty on the timing and final resolution of the Mattress Firm bankruptcy as well its strategies upon emergence from bankruptcy. As a result Serta Simmons earnings and revenues may be further adversely affected over time. Ratings affirmed: Corporate Family Rating at B3; Probability of Default Rating at B3-PD; $1.9 billion 1st lien secured term loan due 2023 at B3 (LGD 3) $450 million 2nd lien secured term loan due 2024 at Caa2 (LGD 5 from LGD 6) RATINGS RATIONALE Serta Simmons' B3 Corporate Family Rating reflects its high leverage at over 7.0 times debt to EBITDA, and aggressive financial policies. The ratings are constrained by the volatility in profitability and cash flows experienced during economic downturns. Moody's expects leverage to approach 7 times in 2019 and fall below 7 times in 2020 through earnings growth and debt repayments with internally generated cash. The rating benefits from the company's good cash flow, its solid scale with revenue over $2.5 billion, and leading market share. Serta Simmons' well-known brand names, competitive strength, and the mattress industry's historically strong fundamentals are a benefit. Ratings could be downgraded if the adverse impact from the Mattress Firm bankruptcy exceeds its expectations, operating performance otherwise weakens, liquidity deteriorates, or if leverage remains elevated. A significant drop in consumer confidence or any material disruption in the housing market could also lead to a downgrade. Key credit metrics which could prompt a downgrade include debt to EBITDA sustained above 7.0 times. Ratings could be upgraded if Serta Simmons' operating performance improves and leverage materially decreases for a sustained period. Key credit metrics which could lead to an upgrade would be debt to EBITDA sustained below 6.0 times. SHORT ENVIRONMENTAL: Hires CliftonLarsonAllen LLP as Accountant --------------------------------------------------------------- Short Environmental Laboratories, Inc., seeks authority from the U.S. Bankruptcy Court for the Southern District of Florida to employ CliftonLarsonAllen LLP, as accountant to the Debtor. Short Environmental requires CliftonLarsonAllen LLP to: a. perform accounting and tax services; b. prepare and file income tax returns for 2017, along with any tax advice related thereto; c. advise the Debtor with respect to its responsibilities in complying with the U.S. Trustee's Operating Guidelines and Reporting Requirements, to the extent necessary; and d. provide logistical support for the conduct of negotiations with its creditors, and in the preparation of a plan. CliftonLarsonAllen LLP will be paid $565 per quarter. The Debtor owed CliftonLarsonAllen LLP in the amount of $2,717 for services rendered prepetition. The firm agreed to waived the prepetition claim. CliftonLarsonAllen LLP will also be reimbursed for reasonable out-of-pocket expenses incurred. Julie Fowler, a partner at CliftonLarsonAllen LLP, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. CliftonLarsonAllen LLP can be reached at: Julie Fowler CLIFTONLARSONALLEN LLP 2523 US 27S Sebring, FL 33870 Tel: (863) 385-1577 About Short Environmental Laboratories Short Environmental Laboratories, Inc., is a privately-held company in Sebring, Florida, that offers environmental testing for a wide variety of industries. Some of its services include water and waste water testing, compliance testing, and sample collection. It also provides ground water, soils, and surface water testing. Short Environmental Laboratories sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 18-19640) on Aug. 7, 2018. In the petition signed by David Murto, president, the Debtor disclosed $217,285 in assets and $1,463,746 in liabilities. Judge Mindy A. Mora presides over the case. Nadine V. White-Boyd, Esq., at the law firm of Nadine White-Boyd, is the Debtor's legal counsel. SILVERVIEW LLC: Disclosure Statement Hearing Moved to Nov. 20 ------------------------------------------------------------- The U.S. Bankruptcy Court for the District of Arizona on Oct. 4 approved the stipulation between Silverview, LLC and OSM Loan Acquisitions IX LP for 30-day continuance of hearing on approval of the disclosure statement and extension of deadline for filing objections. The Oct. 17 hearing to consider approval of the disclosure statement was vacated and reset to Nov. 20, at 11:00 a.m. The deadline for OSM Loan to file an objection to the disclosure statement was extended to no later than five business days prior to the Nov. 20 hearing. About Silverview LLC Silverview, LLC, is a privately-held company whose principal assets are located at 1501 E. Gold Rush Road Bullhead City, Arizona. Silverview sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Ariz. Case No. 18-04471) on April 24, 2018. The company previously sought bankruptcy protection (Bankr. D. Ariz. Case No. 11-03325) on Feb. 9, 2011. In the petition signed by Robert C. Lewis, manager, the Debtor estimated assets of $1 million to $10 million and liabilities of $1 million to $10 million. Judge Daniel P. Collins presides over the case. The Debtor tapped Engelman Berger, P.C., as its legal counsel. SL MACINTYRE: Oct. 25 Plan Confirmation Hearing ----------------------------------------------- Judge Kathryn C. Ferguson of the U.S. Bankruptcy Court for the District of New Jersey issued an order conditionally approving the disclosure statement explaining SL MacIntyre Underground, LLC's plan. October 25, 2018, at 2:00 P.M., is fixed as the date of hearing of confirmation of the Plan. October 18, is fixed as the last date for filing written objections to the confirmation of the Plan. About SL MacIntyre Underground SL MacIntyre Underground, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Case No. 18-11366) on Jan. 23, 2018. In the petition signed by Susan L. MacIntyre, authorized representative, the Debtor estimated assets of less than $500,000 and liabilities of less than $1 million. Judge Kathryn C. Ferguson presides over the case. SOUTHWEST SERVICES: Seeks to Hire Davis Miles as Attorney --------------------------------------------------------- Southwest Services Group, Inc., seeks authority from the U.S. Bankruptcy Court for the District of Arizona to employ Davis Miles McGuire Gardner, PLLC, as attorney to the Debtor. Southwest Services requires Davis Miles to: a. advise the Debtor as to its rights, duties, and powers as the Debtor in Possession; b. prepare and file statements, schedules, plans and other documents and pleadings necessary to be filed by the Debtor in the bankruptcy case; c. represent the Debtor at all hearings, meetings of creditors, conferences, trials, and other proceedings in the bankruptcy case; and d. perform such other legal services as may be necessary in connection with the bankruptcy case. Davis Miles will be paid at these hourly rates: Partners $395 Associates $265 Paralegals $125 Davis Miles will be paid a retainer in the amount of $15,000. Davis Miles will also be reimbursed for reasonable out-of-pocket expenses incurred. Pernell W. McGuire, a partner at Davis Miles McGuire Gardner, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. Davis Miles can be reached at: Pernell W. McGuire, Esq. M. Preston Gardner, Esq. DAVIS MILES MCGUIRE GARDNER, PLLC 40 E. Rio Salado Pkwy., Suite 425 Tempe, AZ 85281 Tel: (480) 733-6800 Fax: (480) 733-3748 About Southwest Services Group Southwest Services Group, LLC, is a real estate company whose principal assets are located at 1609 Grand Ave. Santa Barbara, CA 93103. Southwest Services Group, LLC, based in Agoura Hills, CA, filed a Chapter 11 petition (Bankr. D. Ariz. Case No. 18-11726) on Sept. 26, 2018. In the petition signed by Brett Miles, manager, the Debtor estimated $0 to $50,000 in assets and $1 million to $10 million in liabilities. The Hon. Paul Sala presides over the case. Pernell W. McGuire, Esq., at Davis Miles McGuire Gardner, PLLC, serves as bankruptcy counsel. SPARTAN BUSINESS: CSI Wants Disclosure Statement Amended -------------------------------------------------------- CALIBRE Systems, Inc., objects to Spartan Business & Technology Services, Inc.'s disclosure statement explaining its chapter 11 plan of reorganization, which proposes to pay unsecured creditors about $2 million over the next five years, which will require the company to vastly increase its current revenues. Yet the Disclosure Statement provides no information on how that will be accomplished or what role the litigation claims the Debtor describes will play. The Disclosure Statement is also unclear whether setoff rights are preserved, and the classification and payment schemes it describes are inconsistent with the Bankruptcy Code and cannot lead to a confirmable plan. The Plan and Disclosure Statement proposed are dependent on the Debtor's business operations, and possibly additional litigation claims, to fund the Plan. However, little to no detail is provided regarding the necessity of the litigation or the basis for the Debtor's belief that it will be able to fund the millions of dollars in payments the Plan calls for. In addition, the Plan delays payments to disputed claim holders, with no reserve in the event the creditors prevail in their disputes. As a result, those creditors, even if they successfully oppose any objection filed by the Debtor to their claims, will receive less than the other unsecured creditors, which violates of the absolute priority rule. At a minimum, this Court should require the Debtor to amend the Plan and Disclosure Statement to make clear that all unsecured creditors receive the same pro rata treatment, regardless of whether their claim is disputed. CALIBRE, therefore, requests that the Court enter an order denying approval of the Debtor's Disclosure Statement or in the alternative require the Debtor to amend its Disclosure Statement to provide additional information or cure the objections raised. A copy of CALIBRE's Objection is available for free at: http://bankrupt.com/misc/vaeb18-10032-143.pdf The Troubled Company Reporter previously reported that creditors holding undisputed Class 5 unsecured claims will receive payments within 60 months beginning on Jan. 1 next year. These creditors will be paid $16,666.66 per month on the first year of the plan; $25,000 per month on the second year; $33,333.33 per month on the third year; $41,666.66 per month on the fourth year; and $50,000 per month on the fifth year. The plan will be funded from the future business income of the company, according to the amended disclosure statement. A copy of the amended disclosure statement is available for free at: http://bankrupt.com/misc/vaeb18-10032-140.pdf Counsel for CALIBRE Systems, Inc. Bradley D. Jones, Esq. ODIN FELDMAN & PITTLEMAN PC 1775 Wiehle Avenue, Suite 400 Reston, Virginia 20190 Direct: 703-218-2176 Fax: 703-218-2160 E-Mail: Brad.Jones@ofplaw.com About Spartan Business & Technology Services Inc. Spartan Business & Technology Services, Inc. is a privately-owned company that provides business management and information technology solutions to government, non-profit and service organizations. The company's capabilities include acquisition, logistics and IT systems management; business process improvement and business process reengineering; governance, compliance & performance; healthcare documentation & training; information assurance & access management; IT portfolio management; logistics lifecycle cost studies and implementation; medical and laboratory research; organizational development; performance-and-evidence-based budgeting; professional and management developmental training; professional healthcare management and health information technology analysis; and program and project management. The company is headquartered in Alexandria, Virginia. Spartan Business & Technology Services sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Va. Case No. 18-10032) on Jan. 4, 2018. In the petition signed by Lorenzo Downing, president and secretary, the Debtor disclosed $50,889 in assets and $2.20 million in liabilities. Judge Klinette H. Kindred presides over the case. The Debtor tapped Axelson, Williamowsky, Bender & Fishman, P.C. as its legal counsel; and Stitely & Karstetter, PLLC as its accountant. SUPERIOR PLUS: DBRS Confirms BB(high) Issuer Rating, Trend Stable ----------------------------------------------------------------- DBRS Limited confirmed the Issuer Rating of Superior Plus LP at BB (high) and the Senior Unsecured Debentures rating at BB. The trend on all ratings remains Stable. The ratings confirmations reflect DBRS's expectation that Superior Plus's leverage will return to a level commensurate with the current ratings in the near term, following an uptick driven by the recent acquisition of retail propane assets in the eastern United States (NGL Retail East) as well as five smaller tuck-in acquisitions so far in 2018. The ratings confirmations are also driven by the Company's proven track record of successfully integrating acquisitions and its relative similarity in terms of business model and geography as well as its leading position in the Canadian propane distribution market. On July 10, 2018, Superior Plus closed the previously announced acquisition of NGL Retail East for a total consideration of about USD 900 million. The acquisition price was funded through a mix of debt and equity, such that leverage will temporarily increase at year-end 2018 with adjusted debt-to-EBITDA increasing to well above 4.0 times (x) and cash flow-to-debt declining to below 20%, due to the amount of new debt incurred and the lag in earnings and cash flow contribution from the acquired assets. However, DBRS expects that in the near term leverage metrics will moderate back to a level more aligned with the current ratings (adjusted debt-to-EBITDA below 4.0x and cash flow-to-debt above 20%) as the acquired assets contribute a full year of earnings. In addition to its proven track record of successfully integrating acquisitions, the Company has also shown in the past that it can improve leverage in a relatively short time frame. The Company is also executing on a number of smaller tuck-in acquisitions, mostly in the United States, funded through revolver drawings and which help the Company execute its strategy to grow into the higher-margin retail propane market. Furthermore, Superior Plus has been active in exiting the lower-margin wholesale refined fuel business through dispositions, marking a clear strategic shift. The ratings remain well-supported by Superior Plus's excellent brand strength and reputation for outstanding customer service. The importance of the Company's propane and chemical products to clients and the relatively well-diversified customer base helps to ensure a steady level of demand for Superior Plus's products. The economic drivers of propane demand are generally different from those underlying demand for the Company's Specialty Chemicals products, offering some diversification benefits over the long term. The ratings are also supported by the Company's position as a leading distributor of propane in Canada and its emergence as a significant player in the northeastern U.S. propane market. Challenges include external factors beyond the Company's control, such as seasonal and cyclical drivers in its end markets and volatile raw materials costs in the specialty chemicals business, which have the potential to have a negative impact on earnings and cash flow. The fragmented nature of the propane distribution market and the financial and integration risks associated with the Company's current acquisition strategy are also structural challenges. Overall, the operating performance and business risk profile continue to support the current ratings. DBRS expects the Company to remain acquisitive and, given the fragmented nature of the propane distribution sector, there is no shortage of tuck-in acquisition targets available. However, if in 2019 leverage metrics do not improve to levels commensurate with the ratings, driven by significant debt-financed acquisitions especially during a period of notable market weakness, negative free cash flow or difficulties and delays in integrating newly acquired businesses, a negative rating action could be considered. A positive rating action would likely only be considered if the Company demonstrated a commitment to a materially stronger financial profile over a period of years. Notes: All figures are in Canadian dollars unless otherwise noted. TNT C&P INVESTMENTS: Oct. 31 Hearing on Disclosure Statement ------------------------------------------------------------ The hearing to consider approval of the disclosure statement explaining TNT C&P Investments, LLC's plan is set for October 31, 2018, at 10:00 A.M. Deadline for objections to disclosure statement is October 24. About TNT C&P Investments TNT C&P Investments, LLC, filed a Chapter 11 bankruptcy petition (Bankr. S.D. Fla. Case No. 18-13496) on March 26, 2018. The Debtor hired Chad Van Horn, Esq., and the law firm of Van Horn Law Group, Inc., as its legal counsel. The Office of the U.S. Trustee on June 14 disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of TNT C&P Investments, LLC. TRESHA-MOB: Case Summary & 20 Largest Unsecured Creditors --------------------------------------------------------- Debtor: Tresha-MOB, LLC 67 E. Cedar St. Chicago, IL 60611 Business Description: Tresha-MOB, LLC is a lessor of real estate based in Chicago, Illinois, whose principal assets are located at 9618 Huebner Road San Antonio, TX 78240. Chapter 11 Petition Date: October 10, 2018 Case No.: 18-52420 Court: United States Bankruptcy Court Western District of Texas (San Antonio) Debtor's Counsel: Eric Terry, Esq. ERIC TERRY LAW, PLLC 3511 Broadway San Antonio, TX 78209 Tel: (210) 468-8274 Fax: (210) 319-5447 E-mail: eric@ericterrylaw.com Estimated Assets: $10 million to $50 million Estimated Liabilities: $10 million to $50 million The petition was signed by Michael Horrell, Voltaire Asset Managers II, LLC, manager of TRESHA-MOB LLC. A full-text copy of the petition is available for free at: http://bankrupt.com/misc/txwb18-52420.pdf List of Debtor's 20 Largest Unsecured Creditors: Entity Nature of Claim Claim Amount ------ --------------- ------------ ABM Building Services, LLC Trade Debt $3,095 American Automatic Sprinkler Inc. Trade Debt $300 Arrow Key Service Trade Debt $544 CDI Douglass * PYE INC Trade Debt $50 Clean Scapes - San Antonio LLC Trade Debt $9,567 CPS Energy Utilities $9,466 Huebner Ambulatory Surgery Center, LLC Lawsuit $0 J's Total Service, Inc. Trade Debt $11,193 J.W. Dielmann, Inc. Trade Debt $4,234 JPG Technologies Trade Debt $75 Mark K. Stonecipher Professional $0 Fellers, Snider, Services Blankenship, Bailey & Tippens, P.C. Michael Horrell Lawsuit $0 Prestonwood Trade Debt $1,818 Landscape Services, LLC Professional Dataforms Trade Debt $12 Rainbolt & Alexander, Inc. Trade Debt $5,000 San Antonio Water System Utilities $1,008 San Antonio Water System Utilities $31 The Cincinnati Insurance Companies Trade Debt $2,306 Time Warner Cable Utilities $172 Vaught and Conner PLLC Professional $14,452 Services TYSON ENTERPRISES: Seeks to Hire Taylor English as Attorney ----------------------------------------------------------- Tyson Enterprises, Inc., seeks authority from the U.S. Bankruptcy Court for the Northern District of Georgia to employ Taylor English Duma LLP, as attorney. Tyson Enterprises requires Taylor English to: a) review, analyze, inquire and prepare respecting Debtor's petitions and schedules; b) investigate, analyze and act, if any, relative to any claims by the Debtor against third parties; c) prepare complaints, pleadings, applications, motions and appear on behalf of the Debtor at any hearing in connection with the bankruptcy cases; d) analyze claims and action and distributions respecting claims; e) prepare the Debtor's Chapter 11 Plan of Reorganization, and all actions necessary to accomplish confirmation of same; f) cooperate with the office of the United States Trustee in connection with this case; and g) provide any and all other actions incidental to or necessary for the preservation and administration of these bankruptcy estate. Taylor English will be paid at these hourly rates: John K. Rezac $450 Associates $265 to $450 Paralegals $145 Taylor English will also be reimbursed for reasonable out-of-pocket expenses incurred. John K. Rezac, a partner at Taylor English Duma, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. Taylor English can be reached at: John K. Rezac, Esq. TAYLOR ENGLISH DUMA, LLP 1600 Parkwood Circle, Suite 400 Atlanta, GA 30339 Tel: (770) 434-6868 Fax: (770) 434-7376 E-mail: jrezac@taylorenglish.com About Tyson Enterprises Tyson Enterprises, Inc., is a lessor of real estate based in Kennesaw, Georgia. Tyson Enterprises, Inc., based in Kennesaw, GA, filed a Chapter 11 petition (Bankr. N.D. Ga. Case No. 18-66579) on Oct. 1, 2018. In the petition signed by CEO Ronald G. Tyson, the Debtor estimated $0 to $50,000 in assets and $1 million to $10 million in liabilities. John K. Rezac, Esq., at Taylor English Duma LLP, serves as bankruptcy counsel. VERITY HEALTH: Hires Dentons US as Bankruptcy Counsel ----------------------------------------------------- Verity Health System Of California, Inc. and its affiliated debtors seek approval from the U.S. Bankruptcy Court for the Central District of California to hire Dentons US LLP as their bankruptcy counsel, nunc pro tunc to August 31, 2018. Professional services that Dentons US will render are: a. advise the Debtors with regard to the requirements of the Bankruptcy Court, Bankruptcy Code, Bankruptcy Rules and the Office of the United States Trustee as they pertain to the Debtors; b. advise the Debtors with regard to certain rights and remedies of the bankruptcy estates and rights, claims and interests of creditors; c. take all necessary actions to protect and preserve the Debtors' estates, including the prosecution of actions on the Debtors' behalf, the defense of any actions commenced against the Debtors, the negotiation of disputes in which the Debtors are involved and the preparation of objections to claims filed against the Debtors' estates; d. represent the Debtors in any proceeding or hearing in the Bankruptcy Court involving the estates unless the Debtors are represented in such proceeding or hearing by other special counsel; e. conduct examinations of witnesses, claimants or adverse parties and representing the Debtor in any adversary proceeding (except to the extent that any such adversary proceeding is in an area outside of Dentons US's expertise); f. prepare and assist the Debtors in the preparation of reports, applications, pleadings and orders including, but not limited, applications to employ professionals, interim statements and operating reports, initial filing requirements, schedules and statement of financial affairs, lease pleadings, cash collateral pleadings, financing pleadings, and pleadings with respect to the Debtors’ use, sale or lease of property outside the ordinary course of business; g. represent the Debtors and taking all necessary actions with regard to obtaining debtor in possession financing and the use of cash collateral, including, but not limited to, negotiating and seeking Bankruptcy Court approval of any financing and cash collateral pleading or stipulation and preparing any pleadings relating to obtaining use of cash collateral; h. assist the Debtors and take all necessary actions in connection with the negotiation, formulation, preparation and confirmation of a plan of reorganization and the preparation and approval of a disclosure statement in connection with the plan of reorganization, and/or a sale or sales of the Debtors’ assets, including but not limited to the Hospitals; i. take all necessary actions to protect and preserve the value of the Debtors' estates, including with respect to the Debtors' affiliates and all related matters; j. perform any other services which may be appropriate in Dentons US's representation of the Debtors during these bankruptcy cases. Dentons US' professionals' rates (reflecting either the $800 per hour cap or the 15% discounted rate) are: Sam J. Alberts, Samuel R. Maizel, Claude Montgomery (partners): $800.00 Robert B. Millner (senior counsel) $800.00 R. Matthew Garms (partner) $603.50 Jodi Adolf (partner) $586.00 John Moe (partner) $535.00 Tania Moyron (counsel) $518.50 Malka Zeefe (counsel) $480.00 Lauren Macksoud (managing associate) $437.50 Geoff Miller (managing associate) $442.00 Sarah Schragg (associate) $335.75 Kathryn Howard (paraprofessional) $250.76 Samuel R. Maizel, partner of Dentons US, attests that his firm does not hold or represent any interest materially adverse to the Debtors or the Debtors' estates, and is a "disinterested person" as that term is defined in Sec. 101(14). The counsel can be reached through: Samuel R. Maizel, Esq. John A. Moe, II, Esq. Tania M. Moyron, Esq. DENTONS US LLP 601 South Figueroa Street, Suite 2500 Los Angeles, California 90017-5704 Tel: (213) 623-9300 Fax: (213) 623-9924 Email: samuel.maizel@dentons.com john.moe@dentons.com tania.moyron@dentons.com About Verity Health System Verity Health System -- https://www.verity.org/ -- operates as a non-profit health care system in the state of California, with approximately 1,680 inpatient beds, six active emergency rooms, a trauma center, and a host of medical specialties, including tertiary and quaternary care. Verity's two Southern California hospitals are St. Francis Medical Center in Lynwood and St. Vincent Medical Center in Los Angeles. In Northern California, O'Connor Hospital in San Jose, St. Louise Regional Hospital in Gilroy, Seton Medical Center in Daly City and Seton Coastside in Moss Beach are part of Verity Health. Verity Health also includes Verity Medical Foundation. With more than 100 primary care and specialty physicians, VMF offers medical, surgical and related healthcare services for people of all ages at community-based, multi-specialty clinics conveniently located in areas served by the Verity hospitals. Verity Health System was created in a transaction approved by California Attorney General Kamala Harris and completed in December 2015. Verity Health System of California, Inc. and its affiliates sought protection under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Cal. Lead Case No. 18-20151) on Aug. 31, 2018. In the petition signed by Richard Adcock, chief executive officer, the Verity Health estimated assets of $500 million to $1 billion and liabilities of $500 million to $1 billion. Judge Ernest M. Robles presides over the cases. The Debtors tapped Dentons US LLP as their bankruptcy counsel; Berkeley Research Group, LLC, as financial advisor; Cain Brothers as investment banker; and Kurtzman Carson Consultants as claims agent. The Office of the U.S. Trustee appointed an official committee of unsecured creditors on Sept. 17, 2018. VERMONT IRISH PUB: Unsecureds to Recover 1.9% Under Proposed Plan ----------------------------------------------------------------- Vermont Irish Pub, LLC, filed a small business disclosure statement describing its plan of reorganization dated Oct. 5, 2018. The Debtor operates a restaurant and pub located in Ludlow, Vermont knows as The Killarney. Unsecured creditors in Class 6 will be paid a monthly payment of $207.43 beginning Dec. 31, 2020, and ending Nov. 30, 2023. Estimated percent of claim paid is 1.9%. This class is impaired. All payments under the Plan will be through the continued operation of the business, excepting statutory quarterly fees which will be paid on the effective date, will be made within 10 days of closing of the sale of the Debtor's real estate, scheduled to close under the Rothermel Contract by not later than October 31, 2018. The sale price of $2,762,500 will be sufficient to pay all allowed claims, including the costs of sale (i.e. -- real estate commissions) and administrative claims arising by virtue of this case. The proposed Plan has the following risks: The Debtor's business relies to a certain extent on the weather and is not always predictable. The Debtor's income during the past several years has become more consistent and it no longer is falling behind on its obligations. While the projected income relies primarily on past years revenue, the income during the winter months is conservative based on the 2017-18 income due to last year's significant snow. A copy of the Disclosure Statement is available for free at: http://bankrupt.com/misc/vtb18-10283-32.pdf About Vermont Irish Pub Vermont Irish Pub, LLC filed a Chapter 11 bankruptcy petition (Bankr. D. Vt. Case No. 18-10283) on July 11, 2018, listing under $1 million in both assets and liabilities. Rebecca A. Rice, Esq., at Cohen & Rice, serves as its counsel. VERSA MARKETING: Hires Coleman & Horowitt as Special Counsel ------------------------------------------------------------ Versa Marketing, Inc., seeks approval from the U.S. Bankruptcy Court for the Eastern District of California to hire Coleman & Horowitt, LLP, as special counsel. The counsel will represent the Debtor in civil action litigation cases (Case no. 18-CA-3541; Case no. 3:16-CV-02487 & Case no. 1:18-cv-01159-AWI-BAM) and represent the Debtor in transactional matters related to reopening the business including obtaining releases of warehouse liens. C. Fredrick Meine III, Partner at Coleman & Horowitt, LLP, attests that his firm holds no interest adverse to the Debtor and is a "disinterested person" as defined in 11 U.S.C. 101(14). The counsel can be reached through: C. Fredrick Meine III Coleman & Horowitt, LLP 499 W Shaw Ave, Suite 116 Fresno, CA 93704 Phone: 559-248-4820 Toll-Free: 800-891-8362 Fax: 559-248-4830 About Versa Marketing Inc. Versa Marketing, Inc. -- http://www.versamarketing.us/-- is a contract manufacturer of private label custom made frozen food products for the retail industry and food services. It was founded by Al Goularte in 1993. Versa Marketing sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Cal. Case No. 18-13678) on Sept. 7, 2018. In the petition signed by CEO A.J. Goularte, the Debtor estimated assets of $10 million to $50 million and liabilities of $1 million to $10 million. Judge Rene Lastreto II presides over the case. VERSA MARKETING: Taps Matthews Wallace & Co as Accountant --------------------------------------------------------- Versa Marketing, Inc., seeks approval from the U.S. Bankruptcy Court for the Eastern District of California to hire Matthews, Wallace & Co., as accountant. Services to be rendered by Matthews, Wallace are: a. prepare adjusting entries, working papers and depreciation calculations in connection with preparing, reporting on, or estimating financial statements, financial reports, federal income and state tax returns and/or tax liabilities, and federal income and state tax deposits, including monthly operating reports; b. review correspondence received, prepare correspondence in response to and provide representation services as needed in connection with federal, state and county taxing authorities; and c. provide consulting, tax advice and litigation services as required bu the Debtor including development of a plan. Matthews, Wallace & Co. does not hold any interest adverse to the Debtor and is a "disinterested person" as defined in 11 U.S.C. 101(14), according to court filings. The accountant can be reached through: Doug Matthews, CPA Matthews, Wallace & Co. 1704 East Bullard Ave Fresno, CA, 93710 Phone: (559)432-1846 About Versa Marketing Inc. Versa Marketing, Inc. -- http://www.versamarketing.us/-- is a contract manufacturer of private label custom made frozen food products for the retail industry and food services. It was founded by Al Goularte in 1993. Versa Marketing sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Cal. Case No. 18-13678) on Sept. 7, 2018. In the petition signed by CEO A.J. Goularte, the Debtor estimated assets of $10 million to $50 million and liabilities of $1 million to $10 million. Judge Rene Lastreto II presides over the case. VERSACOM LP: Tasacom Technologies Files Rival Exit Plan ------------------------------------------------------- Tasacom Technologies Inc., a creditor of Versacom LP, filed on Oct. 4 a rival Chapter 11 plan of reorganization that proposes to pay general unsecured creditors in two years. According to the proposed plan filed with the U.S. Bankruptcy Court for the Northern District of Texas, payments to creditors holding allowed Class 4 general unsecured claims will be made annually over two years, with the first payment due 120 days after the plan takes effect. The second annual payments will be due 12 months after the date the first annual payment is due. Versacom, as a reorganized company, will pay cash to each creditor equal to its pro rata share of the "general unsecured creditors' pool," a $60,000 fund to be established by Tasacom to pay Class 4 claims. In the event Tasacom purchases the judgment and unsecured claims held by the plaintiffs in a class action (Case No. 13-CV-04689), the creditor will agree to subordinate payment on the class action claim to allowed general unsecured claims and not share in the pro rata distribution to general unsecured creditors. However, in the event that Tasacom is unable to purchase the class action claim, such claim will share pro rata in the $60,000 fund. The total amount of filed general unsecured claims, excluding the class action claim, is approximately $900,000. The amount of non-insider claims scheduled by Versacom is approximately $260,000. Tasacom has received historical information from Versacom and has projected revenues and expenses which, along with the creditor's capital contribution, will permit it to make the payments, according to its proposed reorganization plan. A copy of Tasacom's combined Chapter 11 plan of reorganization and disclosure statement is available for free at: http://bankrupt.com/misc/txnb17-32714-144.pdf About Versacom LP Headquartered in Dallas, Texas, Versacom, LP, provides services in the field of wireless and telecommunication services. Versacom filed for Chapter 11 bankruptcy protection (Bankr. N.D. Tex. Case No. 17-32714) on July 13, 2017, estimating its assets and liabilities at up to $50,000 each. The petition was signed by Muhammad Al-Amin, general partner of Versacom Holdings, LLC. Judge Stacey G. C. Jernigan presides over the case. Howard Marc Spector, Esq., at Spector & Johnson, PLLC, serves as the Debtor's bankruptcy counsel. W&T OFFSHORE: Commences Tender Offers for 2019, 2020 & 2021 Notes ----------------------------------------------------------------- W&T Offshore, Inc., has commenced cash tender offers for any and all of its outstanding 8.500% Senior Notes due 2019, 9.00%/10.75% Senior Second Lien PIK Toggle Notes due 2020 and 8.50%/10.00% Senior Third Lien PIK Toggle Notes due 2021. The Tender Offers are scheduled to expire at 11:59 p.m., New York City time, on Oct. 31, 2018, unless extended or earlier terminated. Holders who validly tender their Notes before 5:00 p.m., New York City time, on Oct. 17, 2018, unless extended, will be eligible to receive the Total Consideration. The Tender Offers provide for an early settlement option, so that holders whose Notes are validly tendered and not subsequently validly withdrawn prior to the Early Tender Date and accepted for purchase could receive payment as early as Oct. 18, 2018. Tenders of Notes may be validly withdrawn until the Withdrawal Time. The following table sets forth the Tender Offer Consideration, the Early Tender Premium and the Total Consideration for each $1,000 aggregate principal amount of Notes of each series. Aggregate Outstanding Tender Early Principal Series of Offer Tender Total Amount Notes Consideration Premium Consideration ----------- --------- ------------- ------- ------------- $189,829,000 2019 Notes $973.75 $30 $1,003.75 $177,513,418 2020 Notes $996.50 $30 $1,026.50 $160,851,884 2021 Notes $1,016.50 $30 $1,046.25 Holders tendering prior to the Early Tender Date will be eligible to receive the "Tender Offer Consideration" and the early tender premium set forth in the table above. Holders tendering after the Early Tender Date will be eligible to receive only the "Tender Offer Consideration," which does not include the Early Tender Premium. Holders whose Notes are purchased in the Tender Offers will also receive accrued and unpaid interest from the most recent interest payment date at the applicable cash interest rate for the Notes to, but not including, the applicable settlement date. Holders who validly tender their Notes before the Early Tender Date will be eligible to receive payment on the initial settlement date, which may be as early as Oct. 18, 2018, and holders tendering after the Early Tender Date and prior to the Expiration Time will be eligible to receive payment on the final settlement date, which is expected to be Nov. 1, 2018. Tendered Notes may be withdrawn before 5:00 p.m., New York City time, on Oct. 17, 2018, but not thereafter, except under limited circumstances. Any extension, termination or amendment of any of the Tender Offers will be followed as promptly as practicable by a public announcement thereof. Each Tender Offer is subject to the satisfaction of certain conditions including: (1) consummation of a capital markets debt offering raising proceeds in an amount sufficient, when taken together with cash on hand and borrowings under W&T Offshore's revolving bank credit facility, to pay the aggregate consideration for all the tendered Notes, plus all fees and expenses incurred in connection with the Tender Offers, including accrued and unpaid interest on such Notes and to repay outstanding term loan indebtedness and (2) certain other customary conditions. The Company currently intends to exercise its right to redeem any Notes that remain outstanding after the Tender Offers, although the Company has no legal obligation to do so. The complete terms and conditions of the Tender Offers are described in the Offer to Purchase dated Oct. 3, 2018, copies of which may be obtained from D.F. King & Co., Inc., the tender agent and information agent for the Tender Offers, at (800) 207-2872 (US toll free) or, for banks and brokers, (212) 269-5550, or email at wti@dfking.com. W&T Offshore has engaged Morgan Stanley & Co. LLC to act as the exclusive dealer manager in connection with the Tender Offers. Questions regarding the terms of the Tender Offers may be directed to Morgan Stanley & Co. LLC, Liability Management Group, at (800) 624-1808 (US toll free) and (212) 761-1057 (collect). None of W&T Offshore, the dealer manager or the tender agent and information agent or their respective affiliates are making any recommendation as to whether or not holders should tender all or any portion of their Notes in the Tender Offers. This announcement is not an offer to purchase or a solicitation of an offer to purchase with respect to any securities. The Tender Offers are being made solely by the Offer to Purchase dated Oct. 3, 2018. The Tender Offers are not being made to holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities or other laws of such jurisdiction. About W&T Offshore Based in Houston, Texas, W&T Offshore, Inc. -- http://www.wtoffshore.com/-- is an independent oil and natural gas producer with operations offshore in the Gulf of Mexico and has grown through acquisitions, exploration and development. The Company currently has working interests in 48 producing fields in federal and state waters and has under lease approximately 650,000 gross acres, including approximately 440,000 gross acres on the Gulf of Mexico Shelf and approximately 210,000 gross acres in the deepwater. A majority of the company's daily production is derived from wells it operates. W&T Offshore reported net income of $79.68 million in 2017 compared to a net loss of $249.02 million in 2016. As of June 30, 2018, W&T Offshore had $958.15 million in total assets, $342.3 million in total current liabilities, $760.97 million in long term debt, $289.3 million in asset retirement obligations, $73 million in other liabilities and a total shareholders' deficit of $507.4 million. * * * As reported by the TCR on Oct. 4, 2018, S&P Global Ratings raised its issuer credit rating on Houston-based oil and gas exploration and production company W&T Offshore Inc. to 'B-' from 'CCC'. The outlook is stable. The upgrade reflects S&P's view that W&T's proposed capital restructuring will significantly improve its liquidity and leverage. W&T OFFSHORE: Prices $625-M Offering of Senior Second Lien Notes ---------------------------------------------------------------- W&T Offshore, Inc., announced the pricing of its private offering of $625.0 million in aggregate principal amount of senior second lien notes due 2023. The Notes, which priced at par, will mature on Nov. 1, 2023, and will pay interest at an annual rate of 9.75%. The closing of the offering of the Notes is expected to occur on Oct. 18, 2018, subject to customary closing conditions. W&T Offshore intends to use the net proceeds of the offering, together with borrowings from a proposed amended revolving bank credit facility and cash on hand, to (i) repay and retire its outstanding 11.00% 1.5 Lien Term Loan and 9.00% Second Lien Term Loan and (ii) redeem or repurchase in full all of its outstanding 8.500% Senior Unsecured Notes due 2019, 9.00%/10.75% Second Lien PIK Toggle Notes due 2020 and 8.50%/10.00% Third Lien PIK Toggle Notes due 2021. In connection with the offering, W&T Offshore has obtained a commitment letter from three commercial banks for a proposed amended revolving bank credit facility with initial bank lending commitments and borrowing base of $250 million that is expected to close concurrently with the closing of the offering of the Notes. The Notes have not been registered under the Securities Act of 1933, as amended, or any state securities laws; and unless so registered, the securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The Notes are being offered only to qualified institutional buyers in the United States under Rule 144A and to non-U.S. investors outside the United States pursuant to Regulation S. About W&T Offshore Based in Houston, Texas, W&T Offshore, Inc. -- http://www.wtoffshore.com/-- is an independent oil and natural gas producer with operations offshore in the Gulf of Mexico and has grown through acquisitions, exploration and development. The Company currently has working interests in 48 producing fields in federal and state waters and has under lease approximately 650,000 gross acres, including approximately 440,000 gross acres on the Gulf of Mexico Shelf and approximately 210,000 gross acres in the deepwater. A majority of the company's daily production is derived from wells it operates. W&T Offshore reported net income of $79.68 million in 2017 compared to a net loss of $249.02 million in 2016. As of June 30, 2018, W&T Offshore had $958.15 million in total assets, $342.3 million in total current liabilities, $760.97 million in long term debt, $289.3 million in asset retirement obligations, $73 million in other liabilities and a total shareholders' deficit of $507.4 million. * * * As reported by the TCR on Oct. 4, 2018, S&P Global Ratings raised its issuer credit rating on Houston-based oil and gas exploration and production company W&T Offshore Inc. to 'B-' from 'CCC'. The outlook is stable. The upgrade reflects S&P's view that W&T's proposed capital restructuring will significantly improve its liquidity and leverage. WALHOF PROPERTIES: Plan Outline Okayed, Plan Hearing on Nov. 28 --------------------------------------------------------------- The U.S. Bankruptcy Court for the Middle District of Florida will consider approval of the Chapter 11 plan of liquidation for Walhof Properties, LLC at a hearing on Nov. 28. The hearing will be held at 9:30 a.m., at the Sam M. Gibbons United States Courthouse, Courtroom 8A. The court will also consider at the hearing the final approval of the company's disclosure statement, which it conditionally approved on Oct. 4. The order required creditors to submit ballots of acceptance or rejection of the plan no later than eight days before the Nov. 28 hearing. Objections must be filed no later than seven days before the hearing. About Walhof Properties LLC Walhof Properties, LLC filed as a Florida Limited Liability in the State of Florida on Jan. 26, 2018. Walhof & Co. Mergers and Acquisitions, LLC, owns 99% stake in the company. Walhof Properties, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 18-05531) on July 2, 2018. In the petition signed by Christiaan Walhof, its managing member, the Debtor disclosed between $1 million to $10 million in assets and between $1 million and $10 million in liabilities. Judge Michael G. Williamson presides over the case. Benjamin G. Martin, Esq., at Law Offices of Benjamin Martin, serves as the Debtors' counsel. WHEELCHAIR SALES: Sunrise to be Paid $1,848 Monthly at 6% Per Annum ------------------------------------------------------------------- Wheelchair Sales & Service, Inc., filed a disclosure statement in conjunction with its amended plan of reorganization dated Oct. 5, 2018. The Debtor's Plan of Reorganization provides for payment of $92,268.68 to general unsecured creditors, to result in a 10% dividend to all holders of allowed general unsecured claims. This amount will be paid over a five-year period, with an initial payment of $137.48 to satisfy the claim of the Internal Revenue Service; payments of $4,851.27/quarter for one year, and payments of $4,545.73/quarter for four additional years. General unsecured claims total $922,686.80. The Plan provides for the deposit of the stated quarterly payment to a distribution account. The Debtor will pay the quarterly payment, divided pro rata among holders of allowed secured claims, each quarter, until the end of the five-year term of the Plan. The Debtor will distribute the amount in the distribution account each quarter immediately upon availability of the funds in the distribution account. The Debtor will pay the secured claim of Sunrise Medical, secured by substantially all assets of the Debtor, with interest at 6% per annum, over a five-year period, with payments of $1,848.62/month. The Debtor projects sufficient income to pay all required payments under the plan. The Debtor has been making adequate protection payments of $3,000/month to Sunrise Medical under a continuing cash collateral order. This payment will be replaced by the $1,848.62/month payment under the Plan. The Debtor will pay all other costs of administration, such as the fees due to the United States Trustee, attorneys’ fees, and accountants’ fees, on the Effective Date of the Plan, which is the last day of the calendar month after confirmation of the Plan, unless the parties to whom those costs are payable agree to payment over time. A copy of the Disclosure Statement is available for free at: http://bankrupt.com/misc/ilnb18-05186-56.pdf About Wheelchair Sales & Service Wheelchair Sales & Service Inc. is a medical equipment supplier in New Lenox, Illinois. The Company offers medical equipment such as respirators, wheelchairs, home dialysis systems, or monitoring systems, that are prescribed by a physician for a patient's use in the home and that are usable for an extended period of time. Wheelchair Sales & Services, Inc., d/b/a WS&S Globam Medical, filed a Chapter 11 petition (Bankr. N.D. Ill. Case No. 18-05186) on Feb. 26, 2018. In the petition signed by William M. Downs, stockholder, the Debtor disclosed $579,965 in total assets and $1.04 million in total debt. The case is assigned to Judge Donald R Cassling. The Debtor is represented by David P. Lloyd, Esq., at David P. Lloyd, Ltd. WHITNEY PARK: Case Summary & 5 Unsecured Creditors -------------------------------------------------- Debtor: Whitney Park Development, LLC 217 Conant Street Gardner, MA 01440 Business Description: Whitney Park Development, LLC is a Single Asset Real Estate Debtor (as defined in 11 U.S.C. Section 101(51B)). Chapter 11 Petition Date: October 10, 2018 Case No.: 18-41870 Court: United States Bankruptcy Court District of Massachusetts (Worcester) Judge: Hon. Christopher J. Panos Debtor's Counsel: James A. Wingfield, Esq. LAW OFFICES OF JAMES WINGFIELD 1102 Pleasant Street Worcester, MA 01602 Tel: 508-797-0200 Fax: 508-797-0201 E-mail: wingfield@wingfieldlaw.com Estimated Assets: $500,000 to $1 million Estimated Liabilities: $1 million to $10 million The petition was signed by Mark S. Dymek, member-manager. A full-text copy of the petition containing, among other items, a list of the Debtor's five unsecured creditors is available for free at: http://bankrupt.com/misc/mab18-41870.pdf WORD INTERNATIONAL: Nov. 15 Plan Confirmation Hearing ----------------------------------------------------- Chief US Bankruptcy Judge David R. Duncan approved Word International Ministries' disclosure statement referring to a chapter 11 plan filed on August 23, 2018. Nov. 8, 2018 is fixed as the last day for filing written acceptances or rejections of the Plan, and the last day for filing and serving written objections to confirmation of the Plan. Nov. 15, 2018 at 11:00 AM at the J. Bratton Davis United States Bankruptcy Courthouse, 1100 Laurel Street, Columbia, South Carolina is fixed for the hearing on confirmation of the plan. As previously reported by the Troubled Company Reporter, creditors holding Class 3(a) general unsecured claims may get 77% depending on the net proceeds generated from the sale of WIM's Mooneyhan Road real estate. These creditors will receive a monthly payment of $462.33. Payments will start 30 days after the effective date of the plan. About Word International Ministries Word International Ministries is a religious organization based in Sumter, South Carolina. World International filed a Chapter 11 petition (Bankr. D.S.C. Case No. 17-04845) on Sept. 29, 2017. Melody DuRant, its trustee manager, signed the petition. At the time of filing, the Debtor estimated $1 million to $10 million in assets and $500,000 to $1 million in liabilities. The Hon. David R. Duncan presides over the case. Reid B. Smith, Esq., of Bird & Smith PA, is the Debtor's bankruptcy counsel. No official committee of unsecured creditors has been appointed in the Chapter 11 case. [*] Mark That Calendar! Distressed Investing Conference on Nov. 26 ------------------------------------------------------------------ Come and join Beard Group's Distressed Investing conference on November 26, 2018. Now on its 25th year, this annual gathering is the oldest and most established New York restructuring conference. The day-long program will be held the Monday after Thanksgiving at The Harmonie Club, 4 E. 60th St. in Midtown Manhattan. Among the highlights of the Distressed Investing 2018 Conference -- https://www.distressedinvestingconference.com -- Nov. 26th in midtown Manhattan will be an Investors' Roundtable featuring: * Steven L. Gidumal, Managing Partner, VIRTUS CAPITAL, LP * Gary E. Hindes, Managing Director, THE DELAWARE BAY COMPANY LLC * Dave Miller, Portfolio Manager, ELLIOTT MANAGEMENT CORP. * Richard M. Fels, Managing Director, ODEON CAPITAL GROUP LLC There's a high probability that you'll want to call your broker with a buy or sell order following this roundtable discussion. The conference will also feature: * Luncheon presentation of the Harvey R. Miller Award to Edward I. Altman, Professor of Finance, Emeritus, New York University's Stern School of Business. (The award will be presented by last year's winner billionaire Marc Lasry, Altman's former student.) * Evening awards dinner recognizing the 12 Outstanding Young Restructuring Lawyers of 2018 Visit https://www.distressedinvestingconference.com/ for registration details and information about this year's conference agenda as well as highlights from past conferences. This year's corporate sponsors include: * Conway MacKenzie * DSI * Foley & Lardner * Longford Capital * Milford * Pacer Monitor Our media sponsors this year are Debtwire and Financial Times. To learn how you can be a sponsor and participate in shaping the day-long program, contact: Bernard Tolliver at bernard@beardgroup.com or Tel: (240) 629-3300 x-149 To learn about media sponsorship opportunities to bring your outlet into the view of leaders in corporate restructuring, lending and debt and equity investments, and to expand your network of news sources, contact: Jeff Baxt at jeff@beardgroup.com or (240) 629-3300, ext 150 Beard Group, Inc., publishes Turnarounds & Workouts, Troubled Company Reporter, and Troubled Company Prospector. Visit http://bankrupt.com/freetrial/for a free trial subscription to one or more of Beard Group's corporate restructuring publications. [^] BOOK REVIEW: Crafting Solutions for Troubled Businesses ----------------------------------------------------------- Authors: Stephen J. Hopkins and S. Douglas Hopkins Publisher: Beard Books Hardcover: 316 pages List Price: US$74.95 Own your personal copy at http://www.amazon.com/exec/obidos/ASIN/1587982870/internetbankrupt Crafting Solutions for Troubled Businesses: A Disciplined Approach to Diagnosing and Confronting Management Challenges, by Stephen J. Hopkins and S. Douglas Hopkins, will change the way you think about the problems of businesses in distress. The book will be of great value to turnaround management practitioners, lenders facing loan covenant defaults, Board Members of struggling companies who need a basis for evaluating and assisting their management to realistically confront problems, and private equity firm management facing problems with portfolio companies or seeking to identify turnaround investment opportunities. ********* Monday's edition of the TCR delivers a list of indicative prices for bond issues that reportedly trade well below par. Prices are obtained by TCR editors from a variety of outside sources during the prior week we think are reliable. Those sources may not, however, be complete or accurate. The Monday Bond Pricing table is compiled on the Friday prior to publication. Prices reported are not intended to reflect actual trades. Prices for actual trades are probably different. Our objective is to share information, not make markets in publicly traded securities. Nothing in the TCR constitutes an offer or solicitation to buy or sell any security of any kind. It is likely that some entity affiliated with a TCR editor holds some position in the issuers public debt and equity securities about which we report. Each Tuesday edition of the TCR contains a list of companies with insolvent balance sheets whose shares trade higher than $3 per share in public markets. At first glance, this list may look like the definitive compilation of stocks that are ideal to sell short. Don't be fooled. Assets, for example, reported at historical cost net of depreciation may understate the true value of a firm's assets. A company may establish reserves on its balance sheet for liabilities that may never materialize. The prices at which equity securities trade in public market are determined by more than a balance sheet solvency test. On Thursdays, the TCR delivers a list of recently filed Chapter 11 cases involving less than $1,000,000 in assets and liabilities delivered to nation's bankruptcy courts. The list includes links to freely downloadable images of these small-dollar petitions in Acrobat PDF format. Each Friday's edition of the TCR includes a review about a book of interest to troubled company professionals. All titles are available at your local bookstore or through Amazon.com. Go to http://www.bankrupt.com/books/to order any title today. Monthly Operating Reports are summarized in every Saturday edition of the TCR. The Sunday TCR delivers securitization rating news from the week then-ending. TCR subscribers have free access to our on-line news archive. Point your Web browser to http://TCRresources.bankrupt.com/and use the e-mail address to which your TCR is delivered to login. ********* S U B S C R I P T I O N I N F O R M A T I O N Troubled Company Reporter is a daily newsletter co-published by Bankruptcy Creditors Service, Inc., Fairless Hills, Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA. Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog, Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa, Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo Fernandez, Christopher G. Patalinghug, and Peter A. Chapman, Editors. Copyright 2018. All rights reserved. ISSN: 1520-9474. This material is copyrighted and any commercial use, resale or publication in any form (including e-mail forwarding, electronic re-mailing and photocopying) is strictly prohibited without prior written permission of the publishers. Information contained herein is obtained from sources believed to be reliable, but is not guaranteed. The TCR subscription rate is $975 for 6 months delivered via e-mail. Additional e-mail subscriptions for members of the same firm for the term of the initial subscription or balance thereof are $25 each. For subscription information, contact Peter A. Chapman at 215-945-7000. *** End of Transmission ***