/raid1/www/Hosts/bankrupt/TCR_Public/191213.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, December 13, 2019, Vol. 23, No. 346

                            Headlines

3409 FLAGLER: U.S. Trustee Unable to Appoint Committee
ABR BUILDERS: 112th Street Partners Objects to Disclosure Statement
AMSTED INDUSTRIES: S&P Rates New $400MM Sr. Unsecured Notes 'BB'
APPLE VALLEY, MN: S&P Lowers 2016C Revenue Bond Ratings to 'B-(sf)'
ARA MACAO: Trustee Taps Bryan Cave Leighton as Special Counsel

BERLIN PACKAGING: Moody's Affirms B3 CFR, Outlook Stable
BLESSED HOLDINGS: Plan & Disclosure Hearing Reset to Jan. 7, 2020
BOERUM HILL: Case Summary & 6 Unsecured Creditors
BOSTON DONUTS: May Continue Using Cash Collateral Until Jan. 22
C&S GROUP: Moody's Reviews Ba2 CFR for Downgrade

CALERES INC: Moody's Alters Outlook on Ba3 CFR to Negative
CBL & ASSOCIATES: S&P Lowers Issuer Credit Rating to 'B'
CENTURYLINK INC: S&P Rates New $750MM Senior Unsecured Notes 'B+'
CF INDUSTRIES: S&P Alters Outlook to Positive, Affirms 'BB+' ICR
CORECIVIC INC: Fitch Rates Sec. Term Loan 'BB+', Outlook Negative

CORT & MEDAS: Seeks to Hire Rosewood Realty as Real Estate Broker
CREDIT ACCEPTANCE: S&P Assigns 'BB' Rating to New Sr. Unsec. Notes
DAVE GIDDEON: Moves Plan & Disclosures Hearing to Jan. 7
DESERT LAND: Trustee Taps Colliers, Keen-Summit as Brokers
DIGNITY GROUP: Seeks to Hire Eric A. Liepins as Legal Counsel

DURANT INTERNATIONAL: Chapter 15 Case Summary
EAGLE INTERMEDIATE: Moody's Lowers CFR to B3, Outlook Neg.
EB HOLDINGS II: Armory Securities Seeks $189,000 in Fees
EMPORIA PROPERTY: Hires Saitta and Company as Selling Broker
ENERSYS: S&P Rates $300MM Senior Unsecured Notes Due 2027 'BB+'

ESM INC: Seeks to Hire Restaurant Realty as Business Broker
EVERI PAYMENTS: S&P Raises ICR to 'B+'; Outlook Stable
FIRST CLASS: Hires Lefkovitz & Lefkovitz as Attorney
FIZZ & BUBBLE: Express Employment Appointed as Committee Member
FOREVER 21: Alvarez & Marsal Approved as Restructuring Advisors

FOREVER 21: Kirkland & Ellis Approved as Bankruptcy Counsel
FOREVER 21: Pachulski Okayed as Co-Counsel and Conflicts Counsel
FOURTEENTH AVENUE: Committee Hires Schafer and Weiner as Counsel
GENERAC POWER: S&P Rates New $830MM Sr. Secured Term Loan 'BB'
GFL ENVIRONMENT: Moody's Assigns B3 CFR, Outlook Stable

GFL ENVIRONMENTAL: S&P Affirms 'B' ICR; Outlook Stable
GO WIRELESS: Moody's Lowers CFR to B2, Outlook Stable
GRAMERCY GROUP: Parziales to Contribute $4.25M to Fund Plan
GREEN BUILDERS: $1.2M From Sands to Fund 100% Plan
GREGORY L. MOLDEN: Seeks to Hire Patrick Gros as Accountant

HB2 LLC: Court Approves Cash Collateral Request
HENLEY PROPERTIES: Seeks to Hire Berryman Realty as Realtor
HOOPERS CONCRETE: Seeks to Hire Stichter Riedel as Counsel
HOSTESS BRANDS: S&P Alters Outlook to Negative on Voortman Deal
HTUSA CAR: Seeks Authorization to Use Cash Collateral

ICAHN ENTERPRISES: S&P Rates New Unsecured Notes 'BB+'
INGEVITY CORP: Fitch Affirms BB LT IDR, Outlook Stable
INSYS THERAPEUTICS: Files Amended Plan of Liquidation
ISTAR INC: S&P Rates New $500MM Senior Unsecured Notes 'BB-'
J-H-J INC: U.S. Trustee Forms 3-Member Committee

J.D. BEAVERS: Seeks to Hire Fox Law as Legal Counsel
J.D. BEAVERS: Seeks to Hire Schafer and Weiner as Local Counsel
KJM CAPITAL: Seeks to Hire CliftonLarsonAllen as Tax Consultant
KORN FERRY: S&P Assigns 'BB' Issuer Credit Rating; Outlook Stable
LACKNER RODRIGUEZ: Seeks to Hire Enrique J Solana as Counsel

LACKNER RODRIGUEZ: Seeks to Hire JS Whitworth as Co-Counsel
LASV INC: Acting U.S. Trustee Objects to Disclosure Statement
LI GROUP: S&P Assigned 'B' Issuer Credit Rating on Leverage Buyout
LIFEPOINT HEALTH: S&P Alters Outlook to Positive, Affirms 'B' ICR
LIGHT OF LIFE: Hires Kimberly Y. Brooks as Counsel

LITTLE GUYS: Seeks to Hire Joel A. Schechter as Counsel
LIZZA EQUIPMENT: Hires Barclay Damon as Special Counsel
LIZZA EQUIPMENT: Hires JMT of New York as Environmental Engineer
MACDOEL INVESTMENT: Chapter 15 Case Summary
MARSHALL, MI: S&P Rates Electric Utility System Rev. Bonds 'BB'

MCL NURSING: U.S. Trustee Unable to Appoint Committee
MONKEY TOES: Seeks to Hire Boyle & Valenti as Counsel
MOOG INC: S&P Rates New $400MM Sr. Unsecured Notes Due 2027 'BB'
MTE HOLDINGS: Pachulski Stang Represents M & M Lien Group
MURRAY ENERGY: S&P Rates $350MM DIP Term Loan 'B-'

NEW ENGLAND: Jan. 14, 2020 Disclosure & Plan Confirmation Hearing
NEW PHOENIX METALS: Bill Short Okayed as CRO
NEW PHOENIX METALS: Joyce W. Lindauer Approved as Bankr. Counsel
NORTHWEST ACQUISITIONS: S&P Lowers ICR to 'CCC+'; Outlook Negative
NOS INC: Seeks to Hire Bruner Wright as Counsel

O'BENCO IV LP : Creditors Committee Objects to Plan
OAK LAKE LLC: U.S. Trustee Unable to Appoint Committee
OCEANEERING INTERNATIONAL: S&P Cuts Unsecured Notes Rating to 'BB'
OUTERSTUFF LLC: S&P Lowers ICR to 'CCC'; Outlook Negative
OXBOW CARBON: Moody's Affirms B2 CFR & Alters Outlook to Stable

P & P ENTERPRISES: Hires Fox & Associates as Listing Agent
PALM HEALTHCARE: Allowed to Use Cash Collateral Through April 30
PES HOLDINGS: Term Lender Group Files 1st Modified Statement
PG&E CORPORATION: Gibson, Dunn Updates Trade Committee
PGN DESIGN: Seeks to Hire Century 21 MM as Real Estate Broker

PGN DESIGN: Seeks to Hire Dudum Real Estate as Real Estate Broker
PINNACLE ASSET TRUST: BB&T Prohibits Continued Cash Collateral Use
PONTIAC PROPERTIES: Seeks to Hire Bielli & Klauder as Counsel
PROQUEST LLC: S&P Affirms 'B' Rating on First-Lien Term Loan
PROTORQUE PERFORMANCE: U.S. Trustee Unable to Appoint Committee

PURDUE PHARMA: Hires Prime Clerk as Administrative Advisor
PURDUE PHARMA: Seeks to Hire Skadden Arps as Special Counsel
R3D HOLDINGS: Case Summary & 6 Unsecured Creditors
RENT RITE: Post-Chapter 11 Sale to Fund Plan Payments
RENTPATH LLC: S&P Lowers ICR to 'CCC-' on Weak Liquidity

REYNOLDS GROUP: S&P Affirms 'B+' ICR on Announced Divestiture
ROAD INFRASTRUCTURE: S&P Affirms 'CCC+' Issuer Credit Rating
S & G MACHINE: Has Until Feb. 13, 2020 to Achieve Confirmation
S&C TEXAS: Unsecureds to Have 50% Recovery in 10 Years
SANCHEZ ENERGY: Epiq Approved as Committee's Information Agent

SAVE MONEY: Seeks to Hire Smith & Thompson as Special Counsel
SHAE MANAGEMENT: Seeks to Hire Jones & Walden as Legal Counsel
SJV INC: Acting U.S. Trustee Objects to Disclosure Statement
SOURCE ENERGY: S&P Lowers ICR to 'CCC' on Refinancing Risks
TIAN RECLAMATION: Plan Confirmation Hearing Reset to Dec. 19

TIGER OAK: Committee Seeks to Hire Bassford Remele as Counsel
TIGER OAK: Seeks to Hire Lurie LLP as Accountant
TRIAX CAPITAL: Voluntary Chapter 11 Case Summary
TROIANO TRUCKING: Trustee Taps HubCFO as Restructuring Consultant
VIA AIRLINES: U.S. Trustee Unable to Appoint Committee

WALKER COUNTY HOSPITAL: Seeks to Hire Healthcare Management
WALL STREET: Seeks to Hire Gudeman & Associates as Counsel
WHEATON MEDICAL: May Continue Using Cash Collateral Until Dec. 30
WYNTHROP PARTNERS: Jan. 7, 2020 Disclosure Statement Hearing Set
YELLOW PAGES: S&P Alters Outlook to Positive, Affirms 'B-' ICR

[^] BOOK REVIEW: BOARD GAMES - Changing Shape of Corporate Power

                            *********

3409 FLAGLER: U.S. Trustee Unable to Appoint Committee
------------------------------------------------------
The U.S. Trustee, until further notice, will not appoint an
official committee of unsecured creditors in the Chapter 11 case of
3409 Flagler LLC, according to court dockets.

                       About 3409 Flagler

3409 Flagler, LLC classifies its business as single asset real
estate (as defined in 11 U.S.C. Section 101(51B)).  It owns a
single family home located at 3409 South Flagler Drive, West Palm
Beach, Fla., having a comparable sale value of $3.9 million.
  
3409 Flagler sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. S.D. Fla. Case No. 19-24155) on Oct. 22, 2019.  At the
time of the filing, the Debtor disclosed $3,900,000 in assets and
$2,480,278 in liabilities.  The case is assigned to Judge Erik P.
Kimball.  The Debtor tapped David L. Merrill, Esq., at The
Associates, as its legal counsel.


ABR BUILDERS: 112th Street Partners Objects to Disclosure Statement
-------------------------------------------------------------------
112th Street Partners LLC submitted its objection to approval of
the Disclosure Statement for Plan of Reorganization filed by debtor
ABR Builders LLC.

112th Street Partners claims that:

   * The Debtor intends to fund its $1,000,000 Pot with payments of
$450,000 from its operating income and $200,000 from its
principals. These payments are each payable over four years.  Here,
the Disclosure Statement fails to disclose the sources of this
income or the principal's ability to make the payments.

   * There is no disclosure as to whether the Debtor has the
ability to assume the contracts or has the ability to cure any
defaults thereunder. The Debtor believes that it will assume the
construction contract for the 112th Street project. That assumption
is highly speculative given the unaccounted for $1.25 million that
was paid to ABR on behalf of 112th Street, in addition to the Bank
notification to 112th Street of a default caused by the Debtor and
its principals.

   * The source of the principal's payments remain murky. If the
principals' income is dependent on the Debtor’s fantastical
projections, then it is clear that these payments will not be made.
It is also notable that Silver Rock - an entity that appears to be
owned and controlled by the Debtor’s principals has failed to
make capital contributions in excess of $68,000 to 112th Street to
fund construction of 112th Street's property.  Thus, the notion
that these same principals will now fund the Plan is preposterous.

  * The Debtor intends to sell its equity to its current principals
for $200,000.  There has been no competitive bidding, nor has the
Debtor's exclusivity expired.  The Plan was not negotiated with
creditors. Instead, the Debtor unilaterally seeks to sell the
equity of the reorganized Debtor to its principals for $200,000.
Such a sale is wholly improper.

  * The Debtor proposes to fund the Plan is through its future
income and payments from its principals.  These payments are highly
suspect - notably with respect to the Debtor's disclosure that it
will fund the Plan through assumption of the contract to construct
the 112th Street project because this project is in peril because
of the actions of the Debtor and its principals. As such, it is not
going to be a basis for future income to the Debtor.

A full-text copy of the Objection is available at
https://tinyurl.com/rhdvhyc from PacerMonitor.com at no charge.

112th Street is represented by:

        PACHULSKI STANG ZIEHL & JONES LLP
        Ilan D. Scharf, Esq.
        780 Third Avenue, 34th Floor
        New York, NY 10017
        Telephone: (212) 561-7700
        Facsimile: (212) 561-7777
        E-mail: ischarf@pszjlaw.com

                       About ABR Builders

ABR Builders -- http://www.abrbuilders.com/-- is a general
contractor serving New York City and the adjoining areas.  Since
its founding in 1995, the Company has constructed high-end
residential houses and commercial projects such as private medical
clinics.  ABR manufactures all custom architectural, structural,
and interior components through its in-house resources. At the time
of filing, the estimated assets and debts are $1 million to $10
million.

ABR Builders LLC sought Chapter 11 protection (Bankr. S.D.N.Y. Case
No. 19-11041) on April 4, 2019.  The Debtor was estimated to have
$1 million to $10 million in assets and liabilities as of the
bankruptcy filing.  Leo Fox, Esq., in New York, serves as counsel
to the Debtor.


AMSTED INDUSTRIES: S&P Rates New $400MM Sr. Unsecured Notes 'BB'
----------------------------------------------------------------
S&P Global Ratings assigned its 'BB' issue-level rating and '3'
recovery rating to Amsted Industries Inc.'s proposed $400 million
senior unsecured notes due in 2030. The '3' recovery rating
indicates its expectation for meaningful recovery (30%-50%; rounded
estimate: 50%) for lenders in the event of a payment default.

"We expect the company will use the proceeds to fully redeem the
remaining balance of the 5.375% senior unsecured notes due in 2024,
partially repay $150 million of its term loan A, and pay
transaction costs," S&P said.

"Our 'BB' issue-level rating and '3' recovery rating on Amsted's
outstanding 5.625% senior unsecured notes due in 2027 are
unchanged. Our 'BB' issuer credit rating and stable outlook on
Amsted are also unchanged," the rating agency said.

ISSUE RATINGS – RECOVERY ANALYSIS

Key analytical factors

-- S&P's simulated default scenario contemplates a payment default
in 2024 against a backdrop of significant decline in revenue and
profit margins following several consecutive years of low volumes
from lower end-market demand. This weakens free cash flow
generation such that Amsted could not meet its debt service
requirements.

-- The gross emergence enterprise value is based on emergence
EBITDA of $298.6 million and a 5.5x valuation multiple. The 5.5x
multiple reflects the company's good market position in key
railroad, heavy-truck, and light-vehicle markets; good customer
penetration; and technological leadership across its business
segments.

Simulated default assumptions

-- Simulated year of default: 2024
-- EBITDA multiple: 5.5x
-- EBITDA at emergence: $298.6 million
-- Jurisdiction: U.S.
Simplified waterfall

-- Net enterprise value at default (after 5% administrative
costs): $1,559.9 million

-- Valuation split (obligors/nonobligors): 80%/20%

-- Priority claims: $132.4 million

-- Value available to first-lien debt: $1,303.3 million

-- First-lien debt claims: $987.2 million

-- Total value available to unsecured debt: $417.2 million

-- Senior unsecured debt claims: $820.8 million

-- Recovery expectations: 30%-50% (rounded estimate: 50%)

Note: Debt amounts include six months of accrued interest that S&P
assumes will be owed at default. Collateral value includes asset
pledges from obligors (after priority claims) plus equity pledges
in nonobligors. S&P's generally assume usage of 85% for cash flow
revolvers at default.


APPLE VALLEY, MN: S&P Lowers 2016C Revenue Bond Ratings to 'B-(sf)'
-------------------------------------------------------------------
S&P Global Ratings lowered its long-term ratings on the city of
Apple Valley, Minn.'s senior tier 2016A, second tier 2016B, and
third tier 2016C senior living revenue bonds (Minnesota Senior
Living LLC Project) to 'BBB (sf)' from 'A (sf)', 'B (sf) from 'BBB
(sf)', and to 'B- (sf)' from 'BB+ (sf)', respectively. At the same
time, S&P placed the ratings on CreditWatch with negative
implications.

"The downgrades and CreditWatch placements follow rapid and
material deterioration in the project's financial and operating
performance as indicated by the fiscal 2019 fourth quarter
financial reporting package, posted to Electronic Municipal Market
Access on Nov. 12, 2019," said S&P Global Ratings credit analyst
Joanie Monaghan. The report included unaudited financial and
operating information as of fiscal year ended Sept. 30, 2019, and
showed revenues coming in substantially below budget for the year
primarily due to severe occupancy strains at three of the eight
properties in the portfolio. The decline in revenues was the
primary driver for the project's fiscal 2019 debt service coverage
ratios (DSC), based on maximum annual debt service (MADS) dropping
to 1.39x, 0.78, and 0.74x from 2.09x, 1.18x, and 1.11x,
respectively, as of audited fiscal 2018. The abrupt drop in DSC
ratios and declining occupancy trends are the key factors in the
downgrades and the CreditWatch placement. While the information is
unaudited, it has been, certified by the owner's chief financial
officer and indicates material decline. S&P expects to receive
audited financial statements during the 90-day CreditWatch period.
If the audit shows additional financial deterioration, it may lower
the rating further.


ARA MACAO: Trustee Taps Bryan Cave Leighton as Special Counsel
--------------------------------------------------------------
S. Cary Forrester, the Chapter 11 trustee of Ara Macao Holdings,
L.P., seeks authority from the U.S. Bankruptcy Court for the
District of Arizona to retain the law firm of Bryan Cave Leighton
Paisner LLP as its special counsel.

The Trustee requires the services of special counsel to assist him
in evaluating a proposed transaction with Edgewater Belize
Investors, LLC, SF Investments Switzerland GmbH, and SF Marina
Project Development AB regarding the development of the Land and
the reorganization of Debtor.

The hourly rates charged Bryan Cave are:

     Lars O. Lagerman (partner)    $625
     Ali Fugate (associate)        $375
     Patricia Steiner (paralegal)  $310

Bryan Cave will be paid a retainer of $20,000, to be applied only
to invoices approved by the Court, and will also be reimbursed for
its reasonable out-of-pocket costs and expenses.

Lars O. Lagerman, Esq., partner of Bryan Cave, attests that the
firm is disinterested under 11 U.S.C. Sec. 101(14).

The firm can be reached through:

     Lars O. Lagerman, Esq.
     Bryan Cave Leighton Paisner LLP
     Two North Central Avenue, Suite 2100
     Phoenix, AZ 85004-4406
     Tel: +1 602 364 7000
     Fax: +1 602 364 7070

             About Ara Macao Holdings

Ara Macao Holdings, L.P., provides real estate development
services.

On April 6, 2018, an involuntary Chapter 11 petition was filed
against Ara Macao Holdings, L.P. (Bankr. D. Ariz. Case No.
18-03615).  On May 8, 2018, the involuntary proceeding was
converted to a voluntary Chapter 11 proceeding (Bankr. D. Ariz.
Case No. 18-03615).

The case is assigned to Judge Paul Sala.

The petitioning creditors are KB Partners, Inc., Christopher de
Sibert, Gary Nitsche, Daniel Dorgan, Richard Umbach and Edgewater
Resources, LLC. They are represented by Patrick A Clisham, Esq., at
Engelman Berger, P.C.

The Debtor hired Burch & Cracchiolo, P.A. as bankruptcy counsel.

S. Cary Forrester was appointed as the Chapter 11 trustee for Ara
Macao Holdings. The trustee hired Forrester & Worth, PLLC as
counsel.


BERLIN PACKAGING: Moody's Affirms B3 CFR, Outlook Stable
--------------------------------------------------------
Moody's Investors Service affirmed Berlin Packaging LLC's B3
Corporate Family Rating and B3-PD probability of default. All other
instrument ratings are affirmed and the stable outlook remains
unchanged. The affirmation follows the announcement that Berlin has
entered into a definitive agreement to acquire Netherlands based
Novio Packaging Group B.V. The acquisition will be financed by an
undisclosed amount of privately placed debt that will not be
rated.

Affirmations:

Issuer: Berlin Packaging LLC

Corporate Family Rating, Affirmed B3

Probability of Default Rating, Affirmed B3-PD

Senior Secured Term Loan B1, Affirmed B3 (LGD3)

Senior Secured 1st lien Term Loan, Affirmed B3 (LGD3)

Senior Secured 1st lien Revolving Credit Facility, Affirmed B3
(LGD3)

Outlook Actions:

Issuer: Berlin Packaging LLC

Outlook, Remains Stable

RATINGS RATIONALE

The affirmation of the B3 corporate family rating and stable
outlook, despite pro forma leverage of approximately 7.5 times,
primarily reflects expectations of good free cash flow and adequate
liquidity and management's pledge to dedicate all free cash flow to
debt reduction until metrics have been restored to a level within
the rating triggers. Additionally, some growth in EBITDA is
projected from acquisitions, an eventual reduction in costs for
various initiatives and the benefits of these initiatives. The
company is expected to benefit from its increased exposure in
Europe and manage its growing currency exposure soundly. Berlin is
expected to continue to generate good free cash flow despite the
increase in interest expense, elevated costs for various
initiatives and continued dividend payments. Additionally, the
company is expected to have full availability under the $75 million
revolver and $19.5 million in cash on the balance sheet at the
close of the transaction. Moreover, Berlin is expected to maintain
the current Unicredit asset backed facility in Europe. Credit
metrics are expected to return to a level within the rating
triggers within the next 12 to 18 months. Berlin will need to
execute on its operating and integration plans without negative
variance or further acquisition risk in order to maintain the
current corporate family rating.

Weaknesses in Berlin's credit profile include its high leverage,
substantial portion of business not under contract with cost pass
through provisions and the fragmented and competitive market.
Additionally, Berlin's product line is largely commoditized. While
some business is under contract, contracts do not include a
formula-based pass-through for changes in raw material costs (but
allow for pass-through of price increases from suppliers with
sufficient notice). Berlin's credit profile is also constrained by
its acquisition strategy and financial aggressiveness.

Strengths in Berlin's credit profile include its good competitive
position and exposure to more stable end markets, such as food and
beverage and pharmaceuticals. The company has greater scale (sales)
than most competitors and has a network of facilities throughout
the USA. The top ten customers account for less than 11% of sales
and no customer generated more than 1.5% of sales. As a distributor
and service provider, Berlin does not require high capital
expenditures or working capital investments and has the ability to
generate meaningful free cash flow in the absence of high leverage
or dividend payments.

The stable rating outlook reflects an expectation that Berlin's
credit metrics will improve over the rating horizon but remain
within the rating category.

The rating could be upgraded if Berlin sustainably improves its
credit metrics within the context of a stable operating and
competitive environment and the maintenance of good liquidity.
Specifically, the rating could be upgraded if leverage declines
below 5.25 times, funds from operations to debt increases to over
8.0% and EBITDA to interest expense increases to over 2.75 times.

The rating could be downgraded if Berlin fails to improve credit
metrics or if leverage increases due to a significant debt-financed
acquisition. The rating could also be downgraded if there is any
deterioration in operating and competitive environment or
liquidity. Specifically, the rating could be downgraded if
debt/EBITDA remains above 6.5 times, funds from operations to debt
decreases below 6.0% or EBITDA to interest expense declines below
2.0 times.

Berlin's good liquidity is characterized by expected good free cash
flow generation, full availability under its revolving facility.
Cash on the balance sheet fluctuates as the company accumulates
cash, which it eventually uses for acquisitions. Berlin's $75
million revolver will expire in November 2024. The company is also
projected to have additional local lines of credit at certain
operating subsidiaries. While the revolver is expected to remain
undrawn, the company has used revolver borrowings in the past to
finance acquisitions. The only financial covenant is a springing
first lien net leverage ratio on the revolver if borrowings exceed
35% of the total revolver amount. The facilities include an excess
cash flow sweep. Term loan amortization is approximately 1%
annually. The next debt maturity is the revolver in November 2024.
All assets are encumbered by secured debt in the capital structure
so there are very limited alternative sources of liquidity.

Berlin is a distributor and not a manufacturer of packaging
products. However, the industry has come under increasing scrutiny
and the company will need to continue to remain vigilant with its
sourcing to ensure all regulations are met. Berlin's manufacturers
are subject to a broad range of federal, state, provincial and
local environmental, health and safety laws, including those
governing discharges to air, soil and water, the handling and
disposal of hazardous substances and the investigation and
remediation of contamination resulting from the release of
hazardous substances.

Various proposed and instituted mandates around the globe
demonstrate the increased focus on environmental issues in the
industry including improving recyclability and reducing waste. As
distributors, Berlin will have to closely monitor environmental
regulations and the impact it will have on its manufacturers.
Increasing regulation will require attention and vigilance.
Additionally, there will be an increasing emphasis on recyclability
and, potentially, manufacturing plastic products from more
biodegradable substrates. The company will need to continue to
focus on adapting to an evolving regulatory environment.

The principal methodology used in these ratings was Packaging
Manufacturers: Metal, Glass, and Plastic Containers published in
May 2018.

Based in Chicago, Illinois, Berlin Packaging LLC is a distributor
of rigid packaging for food and beverage, household and personal
care and healthcare markets. Berlin also provides various services
to the industry including sourcing, design, consulting,
warehousing, and financing services. For the twelve months ended
June 30, 2019, sales totaled approximately $1.4 billion. The
company was recapitalized by Oak Hill Capital Partners Berlin was
recapitalized by Oak Hill Capital Partners and CPPIB at the end of
2018, and they do not publicly disclose financial information (was
previously a portfolio company of Oak Hill since 2014).


BLESSED HOLDINGS: Plan & Disclosure Hearing Reset to Jan. 7, 2020
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Florida,
Miami Division, convened a hearing on Nov. 6, 2019, at 2:00 p.m.
upon the third motion for enlargement of time to confirm small
business plan for debtor Blessed Holdings Trust, Corp.

On Nov. 13, 2019, Judge A. Jay Cristol granted the motion and
established the following dates and deadlines:

  * Jan. 21, 2020, is the deadline to confirm a Chapter 11 Plan
pursuant to 11 U.S.C. 1129.

  * Jan. 7, 2020, at 3:00 p.m. is the hearing on the confirmation
of the Debtor's Chapter 11 Plan and the approval of the Disclosure
Statement.

  * Dec. 27, 2019, deadline for the filing of ballots accepting or
rejecting the Plan.

  * Jan. 2, 2020, is the deadline for objections to the approval of
the Disclosure Statement or confirmation of the Chapter 11 Plan.

The Debtor is represented by:

        Richard R. Robles, P.A.
        905 Brickell Bay Drive
        Four Ambassadors
        Tower II, Mezzanine, Suite 228
        Miami, Florida 33131
        Tel: (305) 755-9200

                      About Blessed Holdings

Blessed Holdings Trust Corp., a corporation based in Hialeah,
Florida, is a small business debtor as defined in 11 U.S.C. Section
101(51D).

Blessed Holdings Trust sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Fla. Case No. 18-25403) on Dec. 11,
2018.  At the time of the filing, the Debtor had estimated assets
of $1 million to $10 million and liabilities of $1 million to $10
million. The case has been assigned to Judge Jay A. Cristol. The
Debtor tapped the Law Offices of Richard R. Robles, P.A. as its
legal counsel.


BOERUM HILL: Case Summary & 6 Unsecured Creditors
-------------------------------------------------
Debtor: Boerum Hill Developers 26 LLC     
        868 39th Street
        Brooklyn, NY 11232

Business Description: Boerum Hill Developers 26 LLC is a privately
                      held company engaged in activities related
                      to real estate.

Chapter 11 Petition Date: December 11, 2019

Court: U.S. Bankruptcy Court
       Southern District of New York

Case No.: 19-24146

Judge: Hon. Robert D. Drain

Debtor's Counsel: Mark Frankel, Esq.
                  BACKENROTH FRANKEL & KRINSKY, LLP
                  800 Third Avenue
                  New York, NY 10022
                  Tel: (212) 593-1100

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Theodore Welz, managing member.

A copy of the petition containing, among other items, a list of the
Debtor's six unsecured creditors is available at PacerMonitor.com
at https://is.gd/roUy29 at no extra charge.


BOSTON DONUTS: May Continue Using Cash Collateral Until Jan. 22
---------------------------------------------------------------
Judge Christopher J. Panos of the U.S. Bankruptcy Court for the
District of Massachusetts authorized Boston Donuts, Inc., to
continue to use cash collateral, subject to the terms and
conditions of the Second Order, through Jan. 22, 2020.

The Secured Parties are each granted a continuing post-petition
replacement lien and security interest in all post-petition
property of the estate, which liens will maintain the same
priority, validity and enforceability as the liens on the
collateral to the extent of any diminution in the value of the
collateral resulting from the use of the cash collateral.

The Court will hold a further hearing on Debtor's use of cash
collateral on Jan. 22, 2020 at 9:30 a.m.  Any objections must be
filed by Jan. 21 at 12:00 p.m.

                   About Boston Donuts Inc.

Boston Donuts, Inc., generates revenues by manufacturing and
selling donuts.  The Company sought Chapter 11 protection (Bankr.
D. Mass. Lead Case No. 19-41141) on July 11, 2019 along with its
Debtor affiliates Costa Café, Inc., Maple Avenue Donuts, Inc.,
W&E Trust, Inc., and EOR Holding Corporation. Their cases are
jointly administered.  James P. Ehrhard, Esq., at Ehrhard &
Associates, P.C., represents the Debtors.


C&S GROUP: Moody's Reviews Ba2 CFR for Downgrade
------------------------------------------------
Moody's Investors Service put the ratings for C&S Group Enterprises
LLC on review for downgrade following the company's recent
announcement that the company was notified by one of its largest
customers, Koninklijke Ahold N.V. that Ahold will not be renewing
its contract with C&S. Instead, Ahold intends to assume the
procurement role in connection with their plans to transform their
supply chain and distribution network operations. In fiscal 2019,
C&S' net sales to Ahold accounted for $10.9 billion or 42% of its
grocery and distribution sales. In addition, C&S agreed to sell to
Ahold for a total purchase price of $271 million its Chester, NY,
facilities, ES3, LLC's York, PA facilities (including the York, PA
freezer), and certain other related assets including, among other
things, fixtures and equipment at those facilities and its
Bethlehem, PA facility and nearly 700 trailers.

On Review for Downgrade:

Issuer: C&S Group Enterprises LLC

Probability of Default Rating, Placed on Review for Downgrade,
currently Ba2-PD

Corporate Family Rating, Placed on Review for Downgrade, currently
Ba2

Senior Secured Regular Bond/Debenture, Placed on Review for
Downgrade, currently Ba3 (LGD5)

Outlook Actions:

Issuer: C&S Group Enterprises LLC

Outlook, Changed To Rating Under Review From Negative

RATINGS RATIONALE

C&S' rating reflects the company's leading position in a highly
fragmented industry, a moderate funded debt level, and good
liquidity. The rating also reflects the risks associated with the
company's high customer concentration, it's very thin margins, and
its high fixed cost structure. The company's leverage is currently
approximately 4.0 times. Although the loss of Ahold revenue will be
in increments through 2024, Moody's expects the loss of the Ahold
business will ultimately lower EBITDA significantly. If the loss of
revenue and EBITDA is not offset by cost cuts or increased sales to
either existing customers or new customers and if the company does
not reduce debt in proportion to the decline in EBITDA, leverage
will increase significantly. The loss of the significant revenue
base could also compel the company to grow top line through debt
funded acquisitions if organic growth does not materialize and this
also makes the improvement in profitability of the company's
Warehouse Technologies division increasingly important.

Moody's rating review of C&S will primarily consider: (1) the
financial impact of the loss of one of its biggest customers on
profitability, cash flow and credit metrics (2) the company's debt
reduction plans (3) management's strategic plan to remain
competitive and grow topline; and (4) liquidity.

C&S Group Enterprises LLC, issuer of the rated debt, is a financing
subsidiary of C&S Wholesale Grocers Inc. and four affiliated
operating companies. C&S Wholesale Grocers is a private distributor
of groceries to food retailers in the U.S. The company is
headquartered in Keene, New Hampshire and is owned by the Cohen
family. Consolidated revenues are approximately $26 billion.

The principal methodology used in these ratings was Distribution &
Supply Chain Services Industry published in June 2018.


CALERES INC: Moody's Alters Outlook on Ba3 CFR to Negative
----------------------------------------------------------
Moody's Investors Service changed the ratings outlook for Caleres,
Inc.'s to negative from stable. Concurrently, Moody's affirmed the
company's Ba2 corporate family rating, Ba2-PD probability of
default rating and Ba3 senior unsecured notes rating. The SGL-2
speculative grade liquidity rating remains unchanged.

The change in outlook to negative from stable reflects Caleres'
recent earnings performance below Moody's expectations and the view
that organic earnings growth will remain constrained by the highly
competitive retail environment and the consumer shift to
e-commerce. The negative outlook also reflects the risk that
Caleres will be unable to reduce leverage to a level that is
appropriate for the Ba2 rating category either due to weak EBITDA
performance or further share repurchases.

The affirmations of the CFR, PDR and senior unsecured notes rating
reflect Moody's expectations for significant revolver repayment
over the next 2-3 years and good liquidity.

Moody's took the following rating actions for Caleres, Inc.:

Corporate family rating, affirmed Ba2

Probability of default rating, affirmed Ba2-PD

$200 million senior unsecured notes due 2023, affirmed Ba3 (LGD5)

Speculative grade liquidity rating, unchanged at SGL-2

Outlook, changed to negative from stable

RATINGS RATIONALE

Caleres' Ba2 CFR reflects the company's diversified portfolio of
recognized brands and broad geographic presence. The company's
financial strategy balances debt-financed acquisitions and
opportunistic share repurchases with maintaining moderate leverage
levels. Caleres' moderate level of funded debt relative to free
cash flow also supports its credit profile. Moody's expects that
over the next 12-18 months, Moody's-adjusted debt/EBITDA will
improve to 3.3 times from 3.4 times (as of Q3 2019), and
EBITA/interest expense will increase to 3.1 times from 3.0 times,
driven by revolver paydown. The ratings also benefit from the
company's good liquidity profile.

The rating is constrained by Caleres' low operating margin relative
to specialty retail peers, narrow product focus, and fashion risk.
As a footwear retailer and designer, the company is also subject to
the challenging apparel and footwear retail environment, which has
resulted in an estimated modest decline in organic EBITDA
performance over the past several years. In order to maintain its
consumer value proposition, Caleres needs to make ongoing
investments in its brands and infrastructure, as well as in social
and environmental drivers including responsible sourcing, product
and supply sustainability, privacy and data protection.

The ratings could be downgraded if the company is unable to
generate organic revenue and earnings growth on a sustained basis.
The ratings could also be lowered if financial strategy becomes
more aggressive or liquidity deteriorates. Quantitatively, the
ratings could be downgraded if Moody's-adjusted debt/EBITDA remains
above 3.25 times or EBITA/interest expense remains below 3.0
times.

The ratings could be upgraded if the company maintains steady
revenue and earnings growth and meaningfully expands its EBITA
margins. An upgrade would also require improved liquidity and
scale, as well as a more conservative financial policy, including
financing of any future acquisitions with long-term capital.
Quantitatively, the ratings could be upgraded if Moody's-adjusted
debt/EBITDA is sustained below 2.5 times and EBITA/interest expense
above 4.0 times.

The principal methodology used in these ratings was Retail Industry
published in May 2018.

Headquartered in St. Louis, Missouri, Caleres, Inc. is a retailer
and a wholesaler of footwear. Its Famous Footwear chain, which
generates just over half of total revenue, sells moderately priced
branded footwear targeting families through about 960 stores in the
U.S. and Canada. Through its Brand Portfolio segment, Caleres
designs and markets owned and licensed footwear brands including
Naturalizer, Sam Edelman, Vionic, Allen Edmonds, Dr. Scholl's,
LifeStride, Franco Sarto, Vince, Ryka, Bzees, Fergie, Carlos, Via
Spiga, and Blowfish Malibu. The Brand Portfolio segment also
includes about 232 specialty retail stores mostly under the
Naturalizer and Allen Edmonds brands in the U.S. and Canada.
Revenues for the 12 months ended November 2, 2019 were
approximately $3 billion.


CBL & ASSOCIATES: S&P Lowers Issuer Credit Rating to 'B'
--------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on CBL &
Associates Properties Inc. to 'B' from 'B+' following the company's
announcement that it is suspending all common and preferred stock
dividends, which will likely remain in place until year-end 2020.


S&P lowered its issue-level ratings on the company's unsecured debt
to 'B+' from 'BB-'. The '2' recovery rating is unchanged. S&P also
lowered its rating on the preferred stock to 'CCC' from 'CCC+'.

"In our opinion, CBL & Associates Properties Inc.'s suspension of
its common and preferred dividends further depresses the likelihood
it will have access to the capital markets to refinance its
maturities in 2023," S&P said.

S&P believes the company's decision to preserve cash flow
(approximately $120 million in 2020 from both common and preferred
dividends) provides additional cushion to its liquidity position;
however, it also places further pressure on its ability to access
the capital markets in the future since weak operating performance
is expected to continue. While S&P anticipates the company to post
net operating income (NOI) declines in 2020, the rating agency
expects the company will make a cash payment on its accrued
dividends on the preferred stock and return to paying those
dividends in 2021. S&P applied a negative capital structure
modifier to the company to reflect the significant amount of debt
maturities it has over the next five years, which would be
difficult to refinance given the company's current weak credit
market standing.

The negative outlook reflects S&P's view that without a significant
improvement in the company's operating environment, CBL will
experience further challenges retenanting its malls, which will
continue to pressure its operating and financial performance.

"We could lower our rating if we believe the company's prospects
for refinancing won't improve well in advance of the 2023
maturities and if EBITDA margins and profitability deteriorate
further from our expectations because of heightened tenant
bankruptcies and continued declines in rental renewals. At that
time, we could see debt to EBITDA weaken to the mid-9x area or
fixed-charge coverage fall below 1.7x," S&P said.

"We could also lower our rating if the company's liquidity is
constrained due to reduced cushion under the secured debt-to-assets
covenant of less than 10%. We could also lower the rating if we
believe management execution or communication of its operating and
financing strategies to market participants weakens," S&P said.

"Although not likely over the next 12 months given our expectations
for continued operating pressure, we could revise our outlook to
stable if the company stabilizes operating performance, including
flattening same-store NOI growth and occupancy. Under this
scenario, we would also expect the company's portfolio to remain
relatively static or improve such that its recovery prospects
increase," the rating agency said, adding that it would also
anticipate the company would have better access to the capital
markets than its current situation dictates.


CENTURYLINK INC: S&P Rates New $750MM Senior Unsecured Notes 'B+'
-----------------------------------------------------------------
S&P Global Ratings assigned its 'B+' issue-level rating and '6'
recovery rating to CenturyLink Inc.'s proposed $750 million senior
unsecured notes due 2026. The '6' recovery rating indicates S&P's
expectation for negligible (0%-10%; rounded estimate: 5%) recovery
in the event of a payment default.

S&P expects the company to use the net proceeds from these notes,
along with balance sheet cash, to repay $850 million of Qwest
Corp.'s outstanding 6.875% senior notes due 2033. Qwest Corp. is a
wholly-owned subsidiary of CenturyLink.

At the same time, S&P is placing its 'B+' issue-level rating on
Qwest Capital Funding Inc.'s (QCF) existing senior unsecured debt
on CreditWatch with positive implications to reflect the potential
reduction in the structurally senior debt at Qwest Corp., which
will improve the recovery prospects for the QCF noteholders. In
resolving the CreditWatch, S&P may raise its issue-level rating by
as much as two notches to 'BB'.

Because the transaction does not affect CenturyLink's credit
metrics, S&P's 'BB' issuer credit rating and stable outlook on the
company remain unchanged. S&P expects the company's adjusted debt
to EBITDA to decline to about 4.0x as of year-end 2019, from 4.5x
in 2018, due to debt repayment. Despite its expectation for low- to
mid-single-digit percent revenue declines over the next couple of
years, S&P believes that cost synergies will allow CenturyLink to
keep its EBITDA trends relatively flat. The rating agency expects
that this, coupled with the company's discretionary cash flow
(DCF), will enable the company to reduce its leverage to about 3.8x
in 2020. CenturyLink will need to improve its top-line performance
over the longer term as its cost synergies wind down, in S&P's
view. If it is unable to improve its revenue trends, S&P believes
that the company's EBITDA and DCF could decline precipitously and
lead to higher leverage. Ongoing top-line and EBITDA pressures
could also cause S&P to tighten its thresholds for the current
rating, including its current 4.5x downgrade trigger.


CF INDUSTRIES: S&P Alters Outlook to Positive, Affirms 'BB+' ICR
----------------------------------------------------------------
S&P Global Ratings affirmed its 'BB+' issuer credit rating on CF
Industries Inc. and revised the outlook to positive. At the same
time, S&P revised its recovery rating on unsecured debt to '3' from
'4'. S&P's issue-level rating on the company's unsecured debt
remains 'BB+'. S&P affirmed its 'BBB-' issue-level rating on the
senior debt and the recovery rating remains '1'.

The outlook revision on CF Industries to positive from stable
reflects developments that S&P believes could potentially
contribute to stronger credit quality. The company's operating
results have strengthened more than S&P envisioned, benefitting
from market conditions including supportive supply-demand, and
pricing. Additionally, the company has recently paid down debt
maturing in 2020, and plans to pay down additional debt due 2021.
Consequently, S&P now expects the company's credit metrics could
remain at recently strengthened levels, including a funds from
operations (FFO)-to-total-debt ratio at, or above, 40%. The rating
agency believes the outlook for nitrogen fertilizer could
potentially support stronger results beyond the current year.

The positive outlook reflects S&P's view that CF Industries' recent
operating performance and credit metric improvements are
potentially sustainable. S&P does not anticipate any supply shocks,
like large capacity additions, that would significantly reverse (on
a sustained basis) the price improvements, nor do the rating agency
believes long-term demand weaknesses arising out of weather-related
events or a general slowdown in the use of nitrogen-based
fertilizer. S&P's outlook remains favorable in terms of long-term
demand growth trends. The rating agency believes that capital
spending that peaked in 2015 and 2016 will continue at the
significantly lower levels achieved since then. For the current
rating, S&P expects an FFO-to-total adjusted-debt ratio of at least
20%, after incorporating its view of the financial policy, and some
expectation of earnings volatility.

"We could raise the rating over the next 12 months if we expect FFO
to debt will remain at 40% or higher, a level the company has only
recently attained, with the expectation that in a future downturn
the ratio would remain above 30%. To consider an investment-grade
rating, we would also have to believe that management is committed
to maintaining or improving credit measures, and that the potential
for any increase in debt that would weaken this ratio after
accounting for some volatility in earnings, was remote," S&P said.

"We could revise the outlook to stable over the next 12 months if
operating performance weakens unexpectedly or debt rises such that
FFO to total debt falls below 30% on a weighted-average basis with
no prospect for improvement. We considered two historical years and
two future years in our weighted-average calculation, which offsets
the risk of sustained weakness in this ratio from brief, sharp
downturns in operating performance," the rating agency said.


CORECIVIC INC: Fitch Rates Sec. Term Loan 'BB+', Outlook Negative
-----------------------------------------------------------------
Fitch Ratings assigned a 'BB+'/'RR1' rating to the senior secured
term loan B to be issued by CoreCivic, Inc. The proceeds from this
transaction are primarily intended for the redemption of the $325
million 4.125% senior notes due 2020 scheduled for Jan. 1, 2020, as
well as for working capital needs and general corporate purposes.
The Rating Outlook is Negative.

The rating and Outlook reflect negative capital access trends for
private prison operators, including CXW. The list of banks that
have publicly announced plans to exit lending and providing
financial services to private prison operators due to
environmental, social and governance (ESG) concerns has recently
grown beyond the largest U.S. money centers to include regional and
European banks. Increased institutional lender and investor focus
on ESG could reduce the company's access to attractively priced
public equity and debt capital.

Fitch will assess the company's ability to replace existing bank
syndicate members and access new and existing capital sources
during the one-to-two year Outlook horizon, including public and
private bonds and equity. Prison real estate generally lacks
secured property mortgage access, a key contingent liquidity source
for equity REITs, making it more reliant on bank and debt capital
markets access.

KEY RATING DRIVERS

Weaker Capital Access: Institutional capital providers are
increasingly incorporating ESG issues into their investment
strategies and decisions, resulting in weaker access to a variety
of traditional capital sources for private prison operators.
Indeed, recent announcements by major U.S. and foreign banks to cut
financial services and lending to private prison operators have
weakened CXW's through-the-cycle access to bank financing. Limited
access to bank lending is uncharacteristic of REITs in the 'BB'
rating category.

During 2019, four of the lead lenders in CXW's $1.0 billion secured
credit facility have announced they will stop lending and providing
financial services to the private prison industry, including J.P.
Morgan, Bank of America, SunTrust Bank, and PNC Bank. Other banks
that have publicly announced plans to stop lending to private
prison operators during 2019 include Wells, BNP Paribas, Fifth
Third, Barclays, and U.S. Bank. It is unclear if additional banks
will sever ties with the sector, which is reflected in Fitch's
Negative Outlook for the company. CXW's ratings assume the company
replaces these syndicate members with alternative lending partners,
primarily regional and foreign banks and non-bank financial
institutions. The current issuance of a senior secured term loan B
is a positive signal that prison REITs retain access to the secured
loan markets, albeit at a higher price.

Solid Competitive Position: CXW and its publicly traded REIT peer,
The GEO Group, Inc., control more than 80% of all private prison
bed capacity. Fitch expects the U.S. federal correctional system
will continue to rely on private correctional facilities given the
increased focus on illegal immigration, which has led to growth in
detainees. Government agencies like ICE and the U.S. Marshals
Service (USMS) operate few, or none of their own facilities.

However, the private prison sector also faces negative headwinds
from social pressures, and longer-term correctional trends are
shifting away from imprisonment of non-violent offenders and toward
rehabilitation and re-entry for minor drug offenses and other
misdemeanors.

Fitch views capital investment and government relationships as high
entry barriers for potential private competitors. The bureaucratic
and budgeting process at the state and federal levels are hurdles
to new public supply that continue to benefit private operators,
which own newer assets and have solid financial flexibility and
capital access. New public bed capacity has been muted during the
past five years, notwithstanding the aging U.S. prison stock and
overcrowding, which have led to industry safety concerns.

Higher Leverage, Lower Coverage: Fitch expects CXW's leverage to
slowly decline to the high-3x range throughout its forecast
horizon, in line with the company's blended leverage targets of
3.0x-4.0x. CXW has stated its intention to continue diversifying
its portfolio through its Community and Properties segments to
around 25% of NOI by YE 2020, which Fitch believes will require
further capital outlays.

CXW's leverage (net debt to recurring operating EBITDA) increased
with the company's recent acquisitions of traditional,
government-leased office buildings and debt associated with its
Lansing prison development in Kansas, which is slated for
completion in 2020. Indeed, the company's net debt to recurring
operating EBITDA remained high at 4.0x at for the TTM period ended
Sept. 30, 2019, from 3.6x at YE 2017 as the company financed its
acquisitions in 2018 mostly through secured mortgages.

CXW maintained high REIT fixed-charge coverage (recurring operating
EBITDA adjusted for straight line rents and maintenance capex
relative to interest and preferred dividends) at 4.7x for the TTM
period ended Sept. 30, 2019, down from 6.0x at YE 2017, as the
company has secured mortgages to pay for its 2018 office
acquisitions and has assumed the full debt for its Lansing prison
development in Kansas, which is slated for completion in 2020.
Fitch projects that coverage will remain in the high-4x to low-5x
range through the rating horizon.

Occupancies, Margins Stabilize: Average compensated occupancy has
improved to 82.9% in 3Q19 from their low in 2017 at 79.6%.
Occupancy has remained well below the company's target range even
when factoring in CXW's desire to maintain a certain level of
vacancy to meet future demand.

CXW has lost several contracts in recent years, some by choice, but
has been able to recoup the occupancy losses as an immigration
crackdown has dramatically increased the level of detention by
federal agencies under the Department of Homeland Security.

Over the past four years, revenues have been consistently in the
$1.7 billion-$1.9 billion range and EBITDA margins have been
between 22%-24%; diluted adjusted funds from operations (AFFO) per
share, a measure of a REIT's profitability, has recovered to its
2015 levels. Fitch expects NOI margins to stabilize at current
levels (in the high 20% range) as the company offsets its increased
exposure to lower margin safety segment with exposure to
government-lease administrative properties.

Limited Contingent Liquidity: CXW's correctional real estate
holdings provide negligible credit support. Prisons have limited to
no alternative uses, and the properties are often in rural areas.
The company has never obtained a mortgage on any of its owned
prison properties, exhibiting a lack of contingent liquidity, and
there is not a deep property transaction market for this asset
class. Fitch would view increased institutional interest in secured
lending for owned prisons throughout business cycles as a positive
credit characteristic.

High Tenant and Asset Concentration: Fitch considers CXW's
government customer base a credit strength, although concentrated,
as evidenced by the top 10 tenants accounting for 81% of 3Q19
revenue. Three of the company's top tenants are large federal
correctional and detention authorities, which collectively made up
52% of revenue for the year. ICE accounted for an increasing share
of CXW's revenues (29% 3Q19), due primarily to the South Texas
Family Residential Center (STFRC) contract and elevated detention
of immigrant populations. The USMS accounted for 17% of revenue,
and the Bureau of Prisons accounted for 6% of revenue.

Tennessee, Georgia and Oklahoma are the three largest state
customers and together accounted for 18% of 3Q19 revenue. Based on
Fitch's analysis, the company has significant asset concentration
that represents a credit concern.

Secured Credit Facility Notching: Fitch rates the secured revolving
and term loan 'BB+'/'RR1', one notch above the Issuer Default
Rating, as they are effectively senior to the unsecured bonds.

CXW's accounts receivable are pledged as collateral and were $271.6
million at 3Q19 for the existing revolving credit facility and term
loan. Equity in the company's domestic operating subsidiaries and
65% of international subsidiaries are also pledged as collateral.
The long-term fixed assets are not pledged.

First priority lien on a select pool of prison assets that have
active management contracts with U.S. state government
counterparties subject to a minimum appraised value of $312.5
million are pledged as collateral for the new term loan B.

DERIVATION SUMMARY

The lack of alternative uses and absence of secured debt
financeability of CXW's corrections assets results in Fitch
analyzing the company more like a traditional cash flow-generating
corporate entity, as opposed to an asset-rich equity REIT, despite
the tax election. CXW's leverage (approximately 4x) and fixed
charge coverage (4x-5x) metrics are not sufficient for investment
grade ratings despite being amongst the strongest credit metrics in
Fitch's rated U.S. REIT universe.

No country ceiling, parent/subsidiary or operating environment
aspects has an impact on the rating.

KEY ASSUMPTIONS

Fitch's Key Assumptions Within the Rating Case for the Issuer

  -- Flat to slightly positive SSNOI growth;

  -- Fitch assumes $50 million-$75 million in acquisitions annually
2019-2021 predominantly in the office properties segment and funded
through mortgages;

  -- Development of its Otay Mesa Detention Center in California
(completion 2019) and Lansing Correctional Facility in Kansas
(completion 2020);

  -- Revolving credit facility and new term loans used to repay
2020 and 2022 bond maturities and for financing needs on the
margins;

  -- No equity issuance through the forecast period.

RATING SENSITIVITIES

Developments That May, Individually or Collectively, Lead to a
Positive Resolution of the Outlook Include:

  -- Improvements in capital lending from financial institutions,
including the issuer's ability to replace syndicate members and
access to alternative sources of capital (e.g. private placement
debt, JVs, or mortgage lending activity in the private prison
sector);

  -- Fitch's expectation of net debt to recurring operating EBITDA
sustaining below 3.0x in combination with higher retained cash flow
after dividends.

Developments That May, Individually or Collectively, Lead to
Negative Rating Action Include:

  -- Deterioration in the capital-raising environment indicating
reduced financial flexibility and/or a weakened liquidity profile;

  -- Fitch's expectation of net debt to recurring operating EBITDA
sustaining above 4.0x;

  -- Fitch's expectation of REIT fixed-charge coverage (recurring
operating EBITDA adjusted for straight line rents and maintenance
capex relative to interest and preferred dividends) sustaining
below 3.0x;

  -- Decreasing market share, increased pressure on per diem rates
from customers and/or profitable contract losses;

  -- Material political decisions negatively affecting the
long-term dynamics of the private correctional facilities
industry.

LIQUIDITY AND DEBT STRUCTURE

Liquidity Sufficiently Covers Near-Term Maturities: Fitch estimates
CXW's sources of liquidity (unrestricted cash, availability under
its $800 million secured revolver, undrawn portion of its Kansas
notes and estimated retained operating cash flows) cover its uses
(debt maturities, estimated recurring maintenance capex, and
development expenditures) by 1.8x through Dec. 31, 2021, excluding
the proceeds from this issuance.

Fitch believes CXW has adequate liquidity under its $800 million
revolver to address its debt maturities through 2022, excluding the
proceeds from this term loan issuance. However, the company will
need to replace at least four lead lenders that have publicly
announced plans to stop lending to private prison operators at, or
before its revolver matures in April 2023. CXW has $350 million of
unsecured bonds maturing on May 1, 2023.

CXW has maintained an approximate 80% AFFO payout ratio since 2016,
though in 2019 this was below 70%, which is consistent with the
broader REIT sector. Excess cash flow supports maintenance capex,
prison construction, debt reduction and other general corporate
activities.

SUMMARY OF FINANCIAL ADJUSTMENTS

  -- Fitch adds back non-cash stock-based compensation to recurring
operating EBITDA;

  -- Fitch treats the depreciation and interest expenses associated
with the company's STFRC contract as operating expenses, which are
deducted from EBITDA.


CORT & MEDAS: Seeks to Hire Rosewood Realty as Real Estate Broker
-----------------------------------------------------------------
Cort & Medas Associates, LLC seeks approval from the U.S.
Bankruptcy Court for the Eastern District of New York to employ
Rosewood Realty Group as its exclusive real estate broker.

The Debtor is engaged in the business of owning and operating the
real properties located at 1414 Utica Avenue and 1376 Utica Avenue,
Brooklyn, N.Y.

The professional services to be provided by Rosewood are:

     (a) evaluate the value of the properties;

     (b) review all pertinent documents in connection with
marketing the properties;

     (c) create a marketing program for the properties and
preparing and disseminating all marketing materials;

     (d) communicate with parties who have expressed an interest in
the properties and endeavoring to locate additional parties who may
have similar interests;

     (e) respond and provide information to, negotiate with, and
solicit offers from prospective purchasers and making
recommendations to the Debtor to the advisability of accepting
particular offers;

     (f) arrange for physical inspection of the properties by
prospective purchasers;

     (g) meet with the Debtor and its attorneys as necessary; and

     (g) appear, if requested, before the Bankruptcy Court during
the term of its retention, to testify or to consult with the Debtor
in connection with the marketing or disposition of the properties.

Rosewood's commission will be 6 percent of the total sale price.

Rosewood is a "disinterested person" within the meaning of sections
101(14) and 327 of the Bankruptcy Code, according to court
filings.

The firm can be reached through:

     Greg Corbin
     Rosewood Realty Group
     38 E 29th St 5th floor
     New York, NY 10016
     Phone: +1 212-359-9900

               About Cort & Medas Associates

Cort & Medas Associates, LLC sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. E.D.N.Y. Case No. 19-41313) on March 6,
2019.  At the time of the filing, the Debtor estimated assets and
liabilities of between $1 million and $10 million.  The case is
assigned to Judge Carla E. Craig.  Shafferman & Feldman LLP is the
Debtor's legal counsel.


CREDIT ACCEPTANCE: S&P Assigns 'BB' Rating to New Sr. Unsec. Notes
------------------------------------------------------------------
S&P Global Ratings assigned its 'BB' debt rating on Credit
Acceptance Corp.'s (BB/Stable/--) proposed offering of $400 million
in senior unsecured notes due 2024. The company intends to use
proceeds from the notes along with drawings under its revolving
credit facility to refinance the 6.125% senior unsecured notes due
2021 and the 7.375% senior unsecured notes due 2023, as well as pay
transaction-related fees and expenses. Pro forma for the
transaction, S&P expects debt to adjusted total equity to be
approximately 1.9x, within its range for the current rating.



DAVE GIDDEON: Moves Plan & Disclosures Hearing to Jan. 7
--------------------------------------------------------
On November 12, 2019, debtor Dave Giddeon Trucking LLC filed with
the U.S. Bankruptcy Court for the District of Montana a plan of
reorganization and a disclosure statement.

On Nov. 14, 2019, Judge Benjamin P. Hush conditionally approved the
disclosure statement and established a Dec. 3, 2019 as the hearing
on confirmation of Debtor's Plan and on final approval of the
Disclosure Statement.

On Nov. 26, 2019, the Debtor filed a motion to vacate and
reschedule the Plan and Disclosure Statement hearing scheduled for
Dec. 3.

At the behest of the Debtor, the Court has ordered that the hearing
on confirmation of Debtor's Plan of Reorganization and on final of
approval of Debtor's Disclosure Statement will instead be held
Tuesday, January 7, 2020, at 9:00 a.m.

Any further amendment to Debtor's Disclosure Statement or Plan of
Reorganization must be  iled on or before Dec. 18, 2019; and any
objections to a further amended disclosure statement or plan of
reorganization shall be filed on or before Dec. 27, 2019.

              About Dave Giddeon Trucking LLC

Dave Giddeon Trucking LLC, a privately held trucking company in
Laurel, Montana, filed a Chapter 11 petition (Bankr. D. Mont. Case
No. 19-60475) on May 15, 2019. In its petition, the Debtor
estimated $1 million to $10 million in both assets and liabilities.
The petition was signed by Whitney S. Giddeon, member.  

James A. Patten, Esq., at Patten Peterman Bekkedahl & Green, PLLC,
serves as bankruptcy counsel.


DESERT LAND: Trustee Taps Colliers, Keen-Summit as Brokers
----------------------------------------------------------
Kavita Gupta, the Chapter 11 trustee for Desert Land, LLC and its
debtor-affiliates, filed an amended application seeking authority
from the U.S. Bankruptcy Court for the District of Nevada to retain
Colliers Nevada, LLC and Keen-Summit Capital Partners LLC as
brokers.

The brokers will market and auction of multiple parcels of real
property encumbered by liens asserted by Shotgun Creek Investments,
LLC and its affiliates owned by Desert Land, LLC, and a parcel of
real property owned by Desert Oasis Apartments, LLC subject to a
lien held by Northern Trust Company.

The brokers will be paid as follows:

     A. Transaction Fee. As and when Trustee closes a Transaction,
whether such Transaction is completed individually or as part of a
package or as part of a sale of all or a portion of Trustee's
business or as part of a plan of reorganization, then Consultant
shall have earned compensation per Transaction equal to 1.7 percent
of "Gross Proceeds" from the Transactions which will be split
evenly between Keen-Summit and Colliers and paid to Keen-Summit and
Colliers each separately. In the event the Trustee closes a
Transaction for sale of the Property that also includes APN
162-28-301-034 owned by Desert Land LLC or APN 162-28-202-013 owned
by Desert Oasis Investments LLC, the Transaction Fee payable to
Consultant with respect to said parcels shall be governed by this
Agreement notwithstanding anyother Agreement between the Trustee
and Consultant.

     B. Prior Prospects: The parties listed in Annex B are deemed a
Qualified Prior Prospect (QPP) that Colliers has engaged in
meaningful negotiations with previously. If a QPP is the successful
buyer and closes on the Transaction, the Transaction Fee shall be
split between Colliers and Keen with Colliers receiving 73.6
percent of the Transaction Fee and Keen receiving 26.4% of the
Transaction Fee notwithstanding the Transaction Fee splitting
provisions.

     C. Buyer's Broker Commission: In addition to the Transaction
Fee, as and when Trustee closes a Transaction, Trustee shall also
pay a 0.25 percent commission to the broker(s) representing the
purchaser(s).

The brokers can be reached through:

     Matthew Bordwin
     Keen-Summit Capital Partners LLC
     1 Huntington Quadrangle, Suite 2C04
     Melville, NY 11747
     Tel: (646) 381-9202
     Email: mbordwin@Consultant.com

     Mike Mixer
     Colliers International
     3960 Howard Hughes Parkway, #150
     Las Vegas, NV 89169
     Tel: (702) 735-5700
     Email: mike.mixer@colliers.com

                 About Desert Land

On April 30, 2018, Tom Gonzales commenced an involuntary petition
for relief under Chapter 7 of the Bankruptcy Code against Desert
Land, LLC.  The petitioning creditor was Bradley J. Busbin, as
trustee of the Gonzales Charitable Remainder Unitrust One.  Jamie
P. Dreher -- jdreher@downeybrand.com -- of Downey Brand LLP
represents the Trustee.

The Debtor and its affiliates sought and obtained the conversion of
the case to a case under Chapter 11 on June 28, 2018 (Bankr. D.
Nevada, Lead Case No. 18-12454).  The Debtor's affiliates are
Desert Oasis Apartments LLC, Desert Oasis Investments, LLC, and
Skyvue Las Vegas LLC.

Schwartzer & McPherson Law Firm serves as the Debtors' counsel.


DIGNITY GROUP: Seeks to Hire Eric A. Liepins as Legal Counsel
-------------------------------------------------------------
The Dignity Group, LLC seeks approval from the U.S. Bankruptcy
Court for the Northern District of Texas to hire Eric A. Liepins,
P.C. as its legal counsel.

The firm will advise the Debtor of its powers and duties under the
Bankruptcy Code and will provide other legal services in connection
with its Chapter 11 case.

The firm's hourly rates are:

     Eric Liepins, Esq.                 $275
     Paralegals/Legal Assistants     $30 - $50

The Debtor paid the firm a retainer of $5,000, plus the filing fee
of $1,717.

Eric Liepins, Esq., disclosed in court filings that his firm does
not represent any interest adverse to the Debtor's bankruptcy
estate.

The firm can be reached through:

     Eric A. Liepins, Esq.
     Eric A. Liepins, P.C.
     12770 Coit Road, Suite 1100
     Dallas, TX 75251
     Telephone: (972) 991-5591
     Telecopier: (972) 991-5788
     Email: eric@ealpc.com

                      About The Dignity Group

The Dignity Group, LLC purchases, repairs, and sells houses in the
Dallas area.  The Company previously filed for bankruptcy
protection on Aug. 5, 2019 (Bankr. N.D. Tex. Case No. 19-32633).

The Dignity Group LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Texas Case No. 19-34024) on Dec. 2,
2019.  The petition was signed by Fred Cartwright, managing member.
At the time of the filing, the Debtor disclosed assets of
$2,553,000 and $1,695,379 in liabilities. Eric A. Liepins, P.C., is
the Debtor's legal counsel.


DURANT INTERNATIONAL: Chapter 15 Case Summary
---------------------------------------------
Chapter 15 Debtor: Durant International Corp.

Chapter 15 Petition Date: December 11, 2019

Court: U.S. Bankruptcy Court
       Southern District of Florida

Chapter 15 Case No.: 19-26542

Foreign
Representatives: Kevin Hellard & Matthew Richardson

Estimated Assets: Unknown

Estimated Liabilities: Unknown


EAGLE INTERMEDIATE: Moody's Lowers CFR to B3, Outlook Neg.
----------------------------------------------------------
Moody's Investors Service downgraded Eagle Intermediate Global
Holding B.V.'s Corporate Family Rating to B3 from B1. At the same
time, Moody's has downgraded The LYCRA Company's secured notes to
B3 from B1, Probability of Default rating to B3-PD from B1-PD,
Speculative Grade Liquidity Rating to SGL-4 from SGL-2. The rating
outlook remains negative.

Ratings actions:

Issuer: Eagle Intermediate Global Holding B.V.

Corporate Family Rating, Downgraded to B3 from B1

Probability of Default Rating, Downgraded to B3-PD from B1-PD

Speculative Grade Liquidity Rating, Downgraded to SGL-4 from SGL-2

Gtd. Senior Secured 1st Lien USD Notes due 2025, Downgraded to B3
(LGD4) from B1 (LGD4) (Co-issuer: Ruyi US Finance LLC)

Gtd. Senior Secured 1st Lien EUR Notes due 2023, Downgraded to B3
(LGD4) from B1 (LGD4) (Co-issuer: Ruyi US Finance LLC)

Outlook action:

Issuer: Eagle Intermediate Global Holding B.V.

Outlook, Remains Negative

RATINGS RATIONALE

The rating downgrade reflects The LYCRA company's recent earnings
weakness, increased debt leverage, as well as risks associated with
the deteriorating credit quality of its majority owner, Shandong
Ruyi Technology Group Co., Ltd. (Caa1 negative). The slowing demand
in China, low generic spandex prices and a strong dollar will
continue to weigh on its earnings and partly offset the benefits of
lower raw material costs, business restructuring and contribution
from its Taiwan acquisition in 2020. Shandong Ruyi's lingering
refinancing risk will also have a negative impact on The LYCRA
Company's execution of its business plan and increase the
uncertainty of The LYCRA Company's ownership over time.

The LYCRA Company's credit metrics have recently deteriorated to
the level comparable to that of low-single-B rated credits. Its
adjusted debt/EBITDA rose to high seven times at the end of
September 2019, up from 5.5x at the end of 2018, after reporting
almost 10% decline in sales and EBITDA margin falling to 13% in the
first nine months of 2019 from 18% a year ago. The company should
be able to improve its earnings and lower its debt leverage to mid
six times in 2020, thanks to business restructuring, acquired
Taiwan assets and lower raw material costs of PTMEG and MDI.
However, weak consumer sentiment, new spandex supplies in Asia and
limited visibility in price recovery will make it challenging for
the company to achieve a faster recovery.

The company's weak liquidity profile (SGL-4) reflects its modest
free cash flow generation, upcoming maturity of the promissory
notes and challenges to accessing more than $25 million in
revolving credit facility in the next 12 months. Management doesn't
plan to draw down more than $25 million in revolver ($16 million
outstanding as of September 30, 2019), to avoid triggering the test
of its springing financial covenant—consolidated net leverage not
exceeding 5.75x. A payment extension may be needed from Invista on
the remaining $57 million promissory notes (including accrued
interests) due in July 2020, in case earnings and cash flows lag
behind expectation.

The rating downgrade also factors in the deteriorating credit
quality of its parent company -- Shandong Ruyi, which owns 53.4% of
The LYCRA company. Moody's downgraded Shandong Ruyi's rating to
Caa1 with a negative outlook on December 11, 2019, given the
company's tight liquidity and upcoming debt maturity.

The LYCRA Company's credit profile is supported by its leading
market position in the spandex industry with well-known brands and
its long-term relations with textile mills and garment
manufacturers. Its premium LYCRA fiber brand spandex, accounting
for about three quarters of total sales. The company's continuous
R&D efforts, ability to launch new products and strategic plan to
shift product mix to higher-margin spandex will support its margins
against generic competition and cost inflations.

The LYCRA Company's rating also takes into account the
environmental, social and governance (ESG) factors. The evolving
business and financing strategy with limited elaboration by its
majority owner Shandong Ruyi presents a constraint to The LYCRA
Company's credit rating.

The negative outlook reflects the challenges in executing The LYCRA
Company's business plan and the uncertainty regarding its ownership
given the refinancing risk of its majority owner, Shandong Ruyi.

The rating could be downgraded, if the company's earnings continue
to deteriorate, its debt leverage exceeds 8x or it fails to
generate free cash flow and liquidity tightens further. In
addition, a further deterioration in Shandong Ruyi's credit profile
could negatively impact The LYCRA Company's rating.

The outlook could return to stable, if the credit profile of its
parent improves and the LYCRA Company improves its earnings, cash
flow and liquidity. Rating upgrade would require a strong earnings
recovery and debt/EBITDA below 6.0x on a sustained basis. An
upgrade would also depend on a track record of prudent financial
policy, as well as an improvement in the credit rating of its
parent.

Eagle Intermediate Global Holding B.V. is a leading producer of
man-made fibers, including spandex, polyester and nylon, which are
used by many apparel brands. Its owns well-known brands such as
LYCRA fiber, ELASPAN fiber, COOLMAX and THERMOLITE, each of which
provides garments with desired functional performance. The company
operates eight wholly owned manufacturing and processing facilities
in North America, Europe, Asia and South America. As of 2018, it
generated about $1.1 billion revenues. Shandong Ruyi together with
other investors completed the acquisition the LYCRA Company from
INVISTA Equities, LLC. (Ba1 stable) in January 2019.

The principal methodology used in these ratings was Chemical
Industry published in March 2019.


EB HOLDINGS II: Armory Securities Seeks $189,000 in Fees
--------------------------------------------------------
Armory Securities, LLC, will appear before the U.S. Bankruptcy
Court for the District of Nevada at a hearing Dec. 23 to seek
approval of $189,829.62 as for its services as financial advisor to
EB Holdings II, Inc.

Armory billed $187,554 in fees and $2,275.62 in expenses for the
period from September 30 to October 31, 2019.

An order approving the Disclosure Statement and confirming the
Pre-Packaged Chapter 11 Plan of Reorganization of EB Holdings II,
Inc. and its Affiliate Co-Plan Proponent, EBT Newco, LLC, was
entered on Nov. 6, 2019.

EB Holdings II, Inc. won permission from the Court in October to
employ Armory Securities to provide financial advisory and
restructuring services nunc pro tunc to September 30, 2019.  Ebon
Perison who is a Senior Managing Director of Armory, led the
engagement.

Armory's services included, but are not limited to:

     a)  Advise and assist the Debtor in structuring and effecting
the financial aspects of a restructuring transaction or
transactions subject to the terms and conditions of the Engagement
Agreement;  

     b)  Provide financial advice and assistance to the Debtor in
seeking approval of the Debtor's restructuring plan;

     c)  Provide financial advice and assistance to the Debtor in
structuring any new securities to be issued under the Plan;

     d) Assist the Debtor and/or participate in negotiations with
entities or groups affected by the Plan; and

     e) Participate in hearings before the Court with respect to
the matters upon which Armory has provided advice, including
providing testimony in connection with the confirmation hearing on
the Plan and coordinating with the Company's counsel with respect
to testimony in connection therewith.

Mr. Perison's hourly rate is $775.00, and other staff and
professionals at Armory will be billed at rates of $375.00 to
$775.00 per hour, subject to change annually as provided for in the
Engagement Agreement.

Mr. Perison ascertained that Armory and its principals and
associates do not hold or represent any interest adverse to the
Debtor's estate, and Armory and its employees and associates are
disinterested persons within the meaning of Sections 101(14) and
327 of the Bankruptcy Code.

                      About EB Holdings II

EB Holdings II, Inc., is a holding company with assets consisting
primarily of 1,078,993 ordinary shares of Eco-Bat Technologies Ltd,
which represent 86.811% of the outstanding ordinary shares of EBT.
EBT is a parent company for a group of companies whose core
activities are the smelting, refining, manufacturing, and marketing
of lead and lead products, with significant additional revenue
streams from a diverse range of other metals and products.  EBT is
the globally largest producer of and recycler of lead.  

EB Holdings II sought Chapter 11 protection (Bankr. D. Nev. Case
No. 19-16364) on Sept. 30, 2019, to seek confirmation of a
pre-packaged plan of reorganization.  

In the petition signed by Howard M. Meyers, president and owner,
the Debtor disclosed $1,176,337,232 in assets and $2,615,508,039 in
liabilities as of the bankruptcy filing.

The Debtor has hired Garman Turner Gordon LLP as counsel; Armory
Securities as financial advisor; and Prime Clerk LLC as claims
agent.



EMPORIA PROPERTY: Hires Saitta and Company as Selling Broker
------------------------------------------------------------
Emporia Property Group, LLC, seeks authority from the U.S.
Bankruptcy Court for the District of Kansas to employ Saitta and
Company LLC, as selling broker to the Debtor.

The Debtor has filed an Application to Employ Ten-X-, Inc.as
Auctioneer to sell the property located at 2700 W. 18th Avenue,
Emporia, Kansas 66801 and various equipment, furniture and
fixtures, and other miscellaneous property. The Debtor requires the
services of Saitta and Company to present the property to potential
buyers and pursue of sale of the property to those buyers.

Saitta and Company will be paid a commission of 2% of the final
purchase price to be paid from the proceeds of the closing with no
additional costs or fees.

Frank Saitta, partner of Saitta and Company 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.

Saitta and Company can be reached at:

     Frank Saitta
     SAITTA AND COMPANY LLC
     405 Sailboat Point
     Savannah, TN 38372

                 About Emporia Property Group

Emporia Property Group LLC owns in fee simple a hotel property
located at 2700 W. 18th Avenue, Emporia, Kansas, having an
appraised valued of $3.05 million.  The Clarion Inn & Conference
Center hotel -- https://www.emporiaclarion.com/ -- is 100%
non-smoking and pet-friendly hotel located nearby Emporia State
University, and businesses that include Tyson, Emporia Energy
Center Westar, and Hostess Brands.

Emporia Property Group filed a Chapter 11 petition (Bankr. D. Kan.
Case No. 19-22155) on Oct. 8, 2019.  In the petition signed by Lee
Jones, authorized representative, the Debtor disclosed $3,236,648
in assets and $6,406,053 in liabilities.

The case is assigned to Judge Dale L. Somers.

The Debtor tapped Evans & Mullinix, P.A. as legal counsel; Peterson
Whitaker & Bjork as accountant; and Ten-X, LLC as auctioneer.

The Office of the U.S. Trustee appointed creditors to serve on the
official committee of unsecured creditors on Nov. 16, 2019.  The
committee is represented by Sandberg Phoenix & von Gontard P.C.



ENERSYS: S&P Rates $300MM Senior Unsecured Notes Due 2027 'BB+'
---------------------------------------------------------------
S&P Global Ratings assigned its 'BB+' issue-level rating and '4'
recovery rating to EnerSys' proposed $300 million senior unsecured
notes due 2027. The '4' recovery rating indicates S&P's expectation
for average (30%-50%; rounded estimate: 30%) recovery in the event
of a payment default. The company will use the net proceeds from
the notes to repay borrowings under its revolving credit facility.
S&P's issuer credit rating on EnerSys remains 'BB+' with a stable
outlook.

ISSUE RATINGS--RECOVERY ANALYSIS

Key analytical factors

-- S&P's simulated default scenario contemplates a default
occurring in 2024, amid a prolonged downturn in EnerSys' key motive
and reserve power markets, resulting in pressure on volume and
competitive pricing.

-- S&P's default scenario assumes a hypothetical bankruptcy
scenario wherein the company's international footprint could
potentially expose it to multijurisdictional filings that could add
layers of complexity, increase administrative costs, and extend a
bankruptcy process that could ultimately impair creditors' recovery
prospects.

-- S&P values the group on a going-concern basis, given its strong
brand names with leading market positions and strong aftermarket
sales providing stability in earnings.

Simulated default assumptions

-- Simulated year of default: 2024
-- EBITDA multiple: 5.5x
-- EBITDA at emergence: $209.8 million
-- Jurisdiction: U.S.

Simplified waterfall

-- Net enterprise value at default (after 5% administrative
costs): $1.096 billion

-- Valuation split (obligors/nonobligors): 60%/40%

-- Value available to first-lien debt (collateral/noncollateral):
$943 million/$153 million

-- Secured first-lien debt claims: $905 million

-- Value available to unsecured debt (collateral/noncollateral):
$38/$153 million

-- Senior unsecured debt claims: $614 million

-- Recovery expectations: 30%-50%; rounded estimate: 30%

Note: Debt amounts include six months of accrued interest that S&P
assumes will be owed at default. Collateral value includes asset
pledges from obligors plus equity pledges in nonobligors. S&P
generally assumes usage of 85% for cash flow revolvers at default.


ESM INC: Seeks to Hire Restaurant Realty as Business Broker
-----------------------------------------------------------
ESM, Inc. seeks authority from the United States Bankruptcy Court
for the Northern District of California (San Francisco) to hire
Restaurant Realty Company as a business broker for purposes of
listing for sale its business, including its liquor license.

Restaurant Realty will receive a 10 percent commission and the
commission will be paid from the sale proceeds.

Restaurant Realty does not have any connection with the Debtor, any
creditors of the estate, any party in interest, any judge of this
Court, the United States Trustee or any person employed in the
office of the United States Trustee, according to court filings.

The firm can be reached through:

     Steve Zimmerman
     Restaurant Realty Company
     77 Mark Drive, Suite 14
     San Rafael, CA 94903
     888-995-9701

                 About ESM, Inc.

ESM, Inc. dba Dosa Fillmore is a restaurant specializing in Indian
cuisine.

ESM, Inc. filed in its Voluntary Petition for relief under Chapter
11 of Title 11 of the United States Code (Bankr. N.D. Cal. Case No.
19-31218) on Nov. 22, 2019. The petition was signed by Emily Mitra,
president. The Debtor estimates $478,688 in assets and $2,837,372
in liabilities. Stephen D. Finestone, Esq. at FINESTONE HAYES LLP
represents the Debtor as counsel.


EVERI PAYMENTS: S&P Raises ICR to 'B+'; Outlook Stable
------------------------------------------------------
S&P Global Ratings raised its issuer-credit rating one-notch on
U.S.-based gaming and payments equipment and software provider
Everi Payments Inc. to 'B+' from 'B'.

S&P revised its recovery rating on Everi's senior secured debt to
'1' from '2' and raised its issue-level rating to 'BB' from 'B+'.
S&P raised its issue-level rating on Everi's senior unsecured debt
to 'B-', from 'CCC+', based on the higher issuer credit rating. The
recovery rating remains '6'.

The one-notch upgrade of Everi reflects its planned use of equity
proceeds to reduce debt in its capital structure, accelerating the
company's deleveraging path compared to S&P's prior forecast. S&P
now expects leverage to improve to around 4x by the end of 2019,
about 0.5x better than its prior forecast. S&P believes this level
of leverage provides a good cushion for the company to absorb
potential modest operating underperformance and remain below the
rating agency's 5x downgrade threshold at the current rating. S&P
believes maintaining around one turn of cushion relative to the
downgrade threshold is aligned with the stable outlook because it
estimates the risk of a recession beginning in the U.S. within the
next 12 months is 25% to 30% and it views Everi as vulnerable to
some EBITDA volatility. S&P believes that any pullback in
consumer-discretionary spending would translate to operators
reducing their investments in gaming machines, and consumers
spending less at U.S. casinos.

The stable outlook reflects S&P's forecast for adjusted leverage to
remain around 4x through 2020, a level that provides good cushion
for Everi to absorb some potential operating underperformance while
still maintaining adjusted leverage under the rating agency's 5x
downgrade threshold.

"Lower ratings are unlikely at this time given our forecast for
Everi to maintain a good cushion relative to our 5x downgrade
threshold. Nevertheless, we could lower the rating if adjusted
leverage increases above 5x, which would result from about a 20%
decline in EBITDA relative to our 2020 forecast, and would likely
be driven by a sharp weakening of the economy that drove casino
operators to materially cut back on their gaming machine orders or
significantly reduced player spending at casinos," S&P said.
Leverage increasing above 5x could also result from an unexpected
leveraging transaction, according to the rating agency.

"We could consider higher ratings if the company maintained
adjusted leverage in the mid-3x area or below. This could result if
EBITDA outperformed our 2020 base case by about 10%, or from
additional significant and permanent debt reduction," S&P said.


FIRST CLASS: Hires Lefkovitz & Lefkovitz as Attorney
----------------------------------------------------
First Class Printing, Inc., seeks authority from the U.S.
Bankruptcy Court for the Eastern District of Tennessee to employ
Lefkovitz & Lefkovitz, PLLC, as attorney to the Debtor.

First Class requires Lefkovitz & Lefkovitz to:

   a. advise the Debtor as to its rights, duties and powers as
      Debtor-in-Possession;

   b. prepare and file the statements, schedules, plans, and
      other documents and pleadings necessary to be filed by the
      Debtor in the bankruptcy proceeding;

   c. represent the Debtor at all hearings, meetings of
      creditors, conferences, trials and any other proceedings in
      the bankruptcy case; and

   d. perform such other legal services as may be necessary in
      connection with the bankruptcy case.

Lefkovitz & Lefkovitz will be paid at these hourly rates:

     Steven L. Lefkovitz, Partner            $555
     Associates                              $350
     Paralegals                              $125

Lefkovitz & Lefkovitz will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Steven L. Lefkovitz, partner of Lefkovitz & Lefkovitz, 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.

Lefkovitz & Lefkovitz can be reached at:

     Steven L. Lefkovitz, Esq.
     LEFKOVITZ & LEFKOVITZ
     618 Church St Ste 410
     Nashville, TN 37219
     Tel: (615) 256-8300
     Fax: (615) 255-4516
     E-mail: slefkovitz@lefkovitz.com

                  About First Class Printing

First Class Printing, Inc., based in Fayetteville, TN, filed a
Chapter 11 petition (Bankr. E.D. Tenn. Case No. 19-14730) on Nov.
6, 2019.  In the petition signed by Calvin Bruce Tanner, owner, the
Debtor disclosed $392,470 in assets and $1,187,031 in liabilities.
The Hon. Shelley D. Rucker is the presiding judge.  Steven L.
Lefkovitz, Esq., at Lefkovitz & Lefkovitz, serves as bankruptcy
counsel to the Debtor.




FIZZ & BUBBLE: Express Employment Appointed as Committee Member
---------------------------------------------------------------
Gregory Garvin, acting U.S. trustee for Region 18, on Dec. 9, 2019,
appointed Express Employment Professionals as new member of the
official committee of unsecured creditors in the Chapter 11 case of
Fizz & Bubble, LLC.

Express Employment can be reached through:

     Wayne Marschall
     Express Employment Professionals  
     7401 SW Washo Court, Suite 200
     Tualatin, Oregon 97062  
     Phone: 503-612-1563
     Email: wayne.marschall@thestollergroup.com

The bankruptcy watchdog had earlier appointed Oswego Financial
Services, Mike Vanier, Bruce Wood, Lloyd DuBois and Diane Humke,
court filings show.

                        About Fizz & Bubble

Fizz & Bubble, LLC -- https://fizzandbubble.com/ -- is a toiletries
wholesaler based in Wilsonville, Oregon offering an array of
luxurious bath and shower treats.  The company's products include
bath fizzies, bubble bath cupcakes, bubble bath elixirs, bath
truffles, bath melts, shower steamers, body scrubs, whipped soaps,
body frosting lotions, face mask frostings, and lip scrubs.

The Debtor filed for Chapter 11 bankruptcy protection (Bankr. D.
Ore. Case No. 19-34092) on November 4, 2019.  In the petition
signed by Kimberly Ann Mitchell, sole member and chief creative
officer, the Debtor was estimated to have $1 million to $10 million
in both assets and liabilities.  The Hon. Trish M. Brown oversees
the case.  The Debtor is represented by Douglas R. Ricks, Esq., at
Vanden Bos & Chapman, LLP.


FOREVER 21: Alvarez & Marsal Approved as Restructuring Advisors
---------------------------------------------------------------
Forever 21, Inc., and its debtor-affiliates sought and obtained
permission from the U.S. Bankruptcy Court for the District of
Delaware to employ Alvarez & Marsal North America, LLC to provide
the Debtors with a Chief Restructuring Officer and certain
additional personnel; and (ii) designate Jonathan Goulding as the
Debtors' CRO, nunc pro tunc to the Petition Date.

Among other things, A&M Personnel will support the Debtors with
respect to:

*  Developing, in cooperation with applicable officers of the
Debtors, short and long-term projected cash flows;

*  Assisting the Debtors' officers and other Debtor engaged
professionals in developing for the board of the directors of the
Debtors' review possible restructuring plans or strategic
alternatives for maximizing the enterprise value of the Debtor's
various business lines;

*  Assisting the CRO in overseeing the development of a monthly
accounting close process, including monthly bank reconciliations;


*  Assisting the CRO in improvement of the inventory management
process;

*  Assisting the Debtors in overseeing the exit of certain
international jurisdictions;

*  Performing other services as requested or directed by the Board
or other Debtor personnel as authorized by the Board, and agreed to
by A&M that is not duplicative of work others are performing for
the Debtor.

The Debtors have agreed to pay A&M a flat monthly rate of $175,000
in return for the services rendered to the Debtors by the CRO.  Any
partial months will be pro-rated, based on the number of days in
the month.  The current hourly billing rates for Additional
Personnel, based on the position held by the Additional Personnel
at A&M are:

     (a) Managing Directors $875-$1,100
     (b) Directors $675-850
     (c) Analysts/Associates $400-650

Case Management:

     (a) Managing Directors $825-950
     (b) Directors $650-800
     (c) Analysts/Associates $400-600

A&M also will seek reimbursement for reasonable and necessary
expenses incurred in connection with these chapter 11 cases,
including, but not limited to travel, lodging, computer research,
and messenger and telephone charges.  

In addition, A&M shall be reimbursed for the reasonable fees and
expenses of its outside incurred in connection with the preparation
and approval of this Application.  All fees and expenses due to A&M
will be billed on a monthly basis, or more frequently as agreed to
between A&M and the Debtors, as further set forth in the parties'
Engagement Letter.

In addition to the hourly compensation, A&M will be entitled to
incentive compensation in the amount of $1,500,000 payable upon the
earlier of (x) the consummation of a chapter 11 plan of
reorganization or (y) the sale, transfer, or other disposition of
all or a substantial portion of the assets or equity of the Debtors
in one or more transactions.  Such additional compensation shall be
subject to approval of this Court.

The Debtors and A&M also agreed to certain indemnification
provisions.

A&M received $200,000 as a retainer in connection with preparing
for and conducting the filing of these chapter 11 cases. In the 90
days prior to the Petition Date, A&M received retainers and
payments totaling $2,780,572 in the aggregate for services
performed for the Debtors. A&M has applied these funds to amounts
due for services rendered and expenses incurred prior to the
Petition Date.

An unapplied residual retainer, which is estimated to total
approximately $150,000, will not be segregated by A&M in a separate
account, and will be held until the end of these chapter 11 cases
and applied to A&M's finally approved fees in these proceedings,
unless an alternate arrangement is agreed to by the Company.

Mr. Goulding attests that A&M (i) has no connection with the
Debtors, their creditors, other parties in interest, or the
attorneys or accountants of any of the foregoing, or the U.S.
Trustee or any person employed in the Office of the U.S. Trustee;
and (ii) does not hold any interest adverse to the Debtors'
estates.

                         About Forever 21

Founded in 1984, and headquartered in Los Angeles, California,
Forever 21, Inc. -- http://www.forever21.com/-- is a fast fashion
retailer of women's, men's and kids clothing and accessories and is
known for offering the hottest, most current fashion trends at a
great value to consumers.  Forever 21 delivers a curated assortment
of new merchandise brought in daily.

As of the bankruptcy filing, the Debtors operated 534 stores under
the Forever 21 brand in the U.S. and 15 stores under beauty and
wellness brand, Riley Rose.

On Sunday, Sept. 29, 2019, Forever 21, Inc. and 7 of its U.S.
subsidiaries each filed a voluntary petition for relief under
Chapter 11 of the United States Bankruptcy Code (Bankr. D. Del.
Lead Case No. 19-12122).

According to the petition, Forever 21 has estimated liabilities on
a consolidated basis of between $1 billion and $10 billion against
assets of the same range.

The Debtors tapped Kirkland & Ellis LLP as legal advisor; Alvarez &
Marsal as restructuring advisor; and Lazard as investment banker;
and Pachulski Stang Ziehl & Jones LLP as local bankruptcy counsel.
Prime Clerk is the claims agent.

Andrew Vara, acting U.S. trustee for Region 3, on Oct. 11, 2019,
appointed seven creditors to serve on the official committee of
unsecured creditors in the Chapter 11 case of Forever 21, Inc.

Counsel to the administrative agent under the Debtors' prepetition
revolving credit facility and the Debtors' DIP ABL financing
facility are Morgan, Lewis & Bockius LLP and Richards, Layton &
Finger, PA.

Counsel to the administrative agent under the Debtors' DIP term
loan facility is Schulte Roth & Zabel LLP.



FOREVER 21: Kirkland & Ellis Approved as Bankruptcy Counsel
-----------------------------------------------------------
Forever 21, Inc., and its debtor-affiliates sought and obtained
permission from the U.S. Bankruptcy Court for the District of
Delaware to employ Kirkland & Ellis LLP and Kirkland & Ellis
International LLP as their attorneys effective nunc pro tunc to the
Petition Date.  

Kirkland is to render these legal services:

a.  Advising the Debtors with respect to their powers and duties as
debtors in possession in the continued management and operation of
their business and properties;

b.  Advising and consulting on the conduct of these chapter 11
cases, including all of the legal and administrative requirements
of operating in chapter 11;

c.  Attending meetings and negotiating with representatives of
creditors and other parties in interest;

d.  Taking all necessary actions to protect and preserve the
Debtors' estates, including prosecuting actions on the Debtors'
behalf, defending any action commenced against the Debtors, and
representing the Debtors in negotiations concerning litigation in
which the Debtors are involved, including objections to claims
filed against the Debtors' estates;

e.  Preparing pleadings in connection with these chapter 11 cases,
including motions, applications, answers, orders, reports, and
papers necessary or otherwise beneficial to the administration of
the Debtors' estates;

f.  Representing the Debtors in connection with obtaining authority
to continue using cash collateral and postpetition financing;

g.  Advising the Debtors in connection with any potential sale of
assets;

h.  Appearing before the Court and any appellate courts to
represent the interests of the Debtors' estates;  

i.  Advising the Debtors regarding tax matters;

j.  Taking any necessary action on behalf of the Debtors to
negotiate, prepare, and obtain approval of a disclosure statement
and confirmation of a chapter 11 plan and all documents related
thereto; and

k.  Performing all other necessary legal services for the Debtors
in connection with the prosecution of these chapter 11 cases,
including:  (i) analyzing the Debtors' leases and contracts and the
assumption and assignment or rejection thereof; (ii) analyzing the
validity of liens against the Debtors; and (iii) advising the
Debtors on corporate and litigation matters.

Joshua A. Sussberg, the president of Joshua A. Sussberg, P.C., a
partner of Kirkland & Ellis LLP, and a partner of Kirkland & Ellis
International LLP, leads the engagement.

Kirkland's current hourly rates for matters related to these
chapter 11 cases are:

     Partners            $1,025 - $1,795
     Of Counsel            $595 - $1,705
     Associates            $595 - $1,125
     Paraprofessionals     $235 -   $460

The Debtors also tapped Pachulski Stang Ziehl & Jones LLP as their
conflicts counsel in connection with these chapter 11 cases to
handle matters that the Debtors may encounter that cannot be
handled appropriately by Kirkland because of a conflict of
interest.  According to the Debtors, Pachulski's services will
complement, and not duplicate, the services to be rendered by
Kirkland.  Moreover, Pachulski's responsibilities are confined to
discrete legal matters that are distinct from the matters handled
by Kirkland.  Pachulski will act on its own and will not act under
the direct supervision of Kirkland.

Per the terms of the parties' Engagement Letter, on July 11, 2019,
the Debtors paid $200,000 to Kirkland, which constituted an
"advance payment retainer" as defined in Rule 1.15(c) of the
Illinois Rules of Professional Conduct and Dowling v. Chicago
Options Assoc., Inc., 875 N.E.2d 1012, 1018 (Ill. 2007).  The
Debtors also paid to Kirkland additional advance payment retainers
totaling $6,450,000 in the aggregate.  As of the Petition Date, the
Debtors did not owe Kirkland any amounts for legal services
rendered before the Petition Date.

Mr. Sussberg attests that Kirkland is a "disinterested person"
within the meaning of section 101(14) of the Bankruptcy Code, as
required by section 327(a) of the Bankruptcy Code, and does not
hold or represent an interest adverse to the Debtors' estates.

Like many of its peer law firms, Kirkland typically increases the
hourly billing rate of attorneys and paraprofessionals twice a year
in the form of: (i) step increases historically awarded in the
ordinary course on the basis of advancing seniority and promotion
and (ii) periodic increases within each attorney's and
paraprofessional's current level of seniority.  Mr. Sussberg said
the step increases do not constitute "rate increases" (as the term
is used in the Guidelines for Reviewing Applications for
Compensation and Reimbursement of Expenses Filed Under 11 U.S.C.
Sec. 330 by Attorneys in Larger Chapter 11 Cases, effective
November 1, 2013). Kirkland, he said, will provide 10
business-days' notice to the Debtors, the U.S. Trustee, and any
official committee before implementing any periodic increases and
shall file any such notice with the Court.

                         About Forever 21

Founded in 1984, and headquartered in Los Angeles, California,
Forever 21, Inc. -- http://www.forever21.com/-- is a fast fashion
retailer of women's, men's and kids clothing and accessories and is
known for offering the hottest, most current fashion trends at a
great value to consumers.  Forever 21 delivers a curated assortment
of new merchandise brought in daily.

As of the bankruptcy filing, the Debtors operated 534 stores under
the Forever 21 brand in the U.S. and 15 stores under beauty and
wellness brand, Riley Rose.

On Sunday, Sept. 29, 2019, Forever 21, Inc. and 7 of its U.S.
subsidiaries each filed a voluntary petition for relief under
Chapter 11 of the United States Bankruptcy Code (Bankr. D. Del.
Lead Case No. 19-12122).

According to the petition, Forever 21 has estimated liabilities on
a consolidated basis of between $1 billion and $10 billion against
assets of the same range.

The Debtors tapped Kirkland & Ellis LLP as legal advisor; Alvarez &
Marsal as restructuring advisor; and Lazard as investment banker;
and Pachulski Stang Ziehl & Jones LLP as local bankruptcy counsel.
Prime Clerk is the claims agent.

Andrew Vara, acting U.S. trustee for Region 3, on Oct. 11, 2019,
appointed seven creditors to serve on the official committee of
unsecured creditors in the Chapter 11 case of Forever 21, Inc.

Counsel to the administrative agent under the Debtors' prepetition
revolving credit facility and the Debtors' DIP ABL financing
facility are Morgan, Lewis & Bockius LLP and Richards, Layton &
Finger, PA.

Counsel to the administrative agent under the Debtors' DIP term
loan facility is Schulte Roth & Zabel LLP.



FOREVER 21: Pachulski Okayed as Co-Counsel and Conflicts Counsel
----------------------------------------------------------------
Forever 21, Inc., and its debtor-affiliates sought and obtained
permission from the U.S. Bankruptcy Court for the District of
Delaware to employ Pachulski Stang Ziehl & Jones LLP as co-counsel
and conflicts counsel for the Debtors, effective nunc pro tunc to
the Petition Date.

The Debtors tapped Pachulski as co-counsel and conflicts counsel
because of the Firm's extensive experience and knowledge in the
field of debtors' and creditors' rights and business
reorganizations under chapter 11 of the Bankruptcy Code.

The professional services that Pachulski will provide include, but
shall not be limited to:

a.  Providing legal advice regarding local rules, practices, and
procedures;

b.  Reviewing and commenting on drafts of documents to ensure
compliance with local rules, practices, and procedures;

c.  Filing documents as requested by Kirkland & Ellis LLP and
coordinating with the Debtors' claims agent for service of
documents;

d.  Preparing agenda letters, certificates of no objection,
certifications of counsel, and notices of fee applications and
hearings;

e.  Preparing hearing binders of documents and pleadings, printing
of documents and pleadings for hearings;

f.  Appearing in Court and at any meeting of creditors on behalf of
the Debtors in its capacity as co-counsel with K&E and, as
appropriate, as conflicts counsel;

g.  Monitoring the docket for filings and coordinating with K&E on
pending matters that need responses;

h.  Preparing and maintaining critical dates memorandum to monitor
pending applications, motions, hearing dates and other matters and
the deadlines associated with same; distributing critical dates
memorandum with K&E for review and any necessary coordination for
pending matters;

i.  Handling inquiries and calls from creditors and counsel to
interested parties regarding pending matters and the general status
of these Cases, and, to the extent required, coordinating with K&E
on any necessary responses; and

j.  Providing additional administrative support to K&E, as
requested.

Compensation will be payable to Pachulski on an hourly basis, plus
reimbursement of actual, necessary expenses and other charges
incurred by the firm. The rates for the firm's attorneys and
paralegals designated to represent the Debtors are:

     Partners             $725.00 to $1,395.00
     Of Counsel           $650.00 to $1,095.00
     Associates           $575.00 to   $695.00
     Paraprofessionals    $325.00 to   $425.00

The firm has received payments from the Debtors during the year
prior to the Petition Date in the amount of $88,736 in connection
with its prepetition representation of the Debtors.

Pursuant to the Appendix B Guidelines for Reviewing Applications
for Compensation and Reimbursement of Expenses Filed Under United
States Code by Attorneys in Larger Chapter 11 Cases, the firm
disclosed that:

     -- The material financial terms for the prepetition engagement
remained the same as the engagement was hourly based subject to
economic adjustment.

     -- The billing rates and material financial terms for the
postpetition period remain the same as the preposition period,
subject to an annual economic adjustment. The firm's standard
hourly rates are subject to periodic adjustment in accordance with
the firm's practice.

     -- The Debtors and the firm expect to develop a prospective
budget and staffing plan to comply with the U.S. trustee's request
for information and additional disclosures, recognizing that in the
course of this large chapter 11 cases, there may be unforeseeable
fees and expenses that will need to be addressed by the debtors and
firm.

Laura Davis Jones, Esq., a partner at the firm, leads the firm's
engagement.  She attested that Pachulski has not represented the
Debtors, their creditors, equity security holders, or any other
parties in interest, or their respective attorneys, in any matter
relating to the Debtors or their estates.  Pachulski does not hold
or represent any interest adverse to the Debtors' estates, it is a
disinterested person as that phrase is defined in section 101(14)
of the Bankruptcy Code, and its employment is necessary and in the
best interests of the Debtors and their estates.

                         About Forever 21

Founded in 1984, and headquartered in Los Angeles, California,
Forever 21, Inc. -- http://www.forever21.com/-- is a fast fashion
retailer of women's, men's and kids clothing and accessories and is
known for offering the hottest, most current fashion trends at a
great value to consumers.  Forever 21 delivers a curated assortment
of new merchandise brought in daily.

As of the bankruptcy filing, the Debtors operated 534 stores under
the Forever 21 brand in the U.S. and 15 stores under beauty and
wellness brand, Riley Rose.

On Sunday, Sept. 29, 2019, Forever 21, Inc. and 7 of its U.S.
subsidiaries each filed a voluntary petition for relief under
Chapter 11 of the United States Bankruptcy Code (Bankr. D. Del.
Lead Case No. 19-12122).

According to the petition, Forever 21 has estimated liabilities on
a consolidated basis of between $1 billion and $10 billion against
assets of the same range.

The Debtors tapped Kirkland & Ellis LLP as legal advisor; Alvarez &
Marsal as restructuring advisor; and Lazard as investment banker;
and Pachulski Stang Ziehl & Jones LLP as local bankruptcy counsel.
Prime Clerk is the claims agent.

Andrew Vara, acting U.S. trustee for Region 3, on Oct. 11, 2019,
appointed seven creditors to serve on the official committee of
unsecured creditors in the Chapter 11 case of Forever 21, Inc.

Counsel to the administrative agent under the Debtors' prepetition
revolving credit facility and the Debtors' DIP ABL financing
facility are Morgan, Lewis & Bockius LLP and Richards, Layton &
Finger, PA.

Counsel to the administrative agent under the Debtors' DIP term
loan facility is Schulte Roth & Zabel LLP.



FOURTEENTH AVENUE: Committee Hires Schafer and Weiner as Counsel
----------------------------------------------------------------
The Official Committee of Unsecured Creditors of Fourteenth Avenue
Cartage Company, Inc., seeks authorization from the U.S. Bankruptcy
Court for the Eastern District of Michigan to retain Schafer and
Weiner, PLLC, as counsel to the Committee.

The Committee requires Schafer and Weiner to:

   a. serve as counsel for the Committee;

   b. provide the Committee with legal advice concerning its
      statutory powers and duties in connection with Debtor's
      chapter 11 case;

   c. assist the Committee in investigating the acts, conduct,
      assets, liabilities, and financial condition and affairs of
      Debtor and the operation of Debtor's business;

   d. participate in the formulation of any plan and analysis of
      proposals by Debtor or others;

   e. advise and analyze any proposed disposition of assets of
      Debtor outside of a plan; and

   f. perform such other legal services as may be reasonably
      required on behalf of or requested by the Committee to
      allow it to appropriately perform its duties.

Schafer and Weiner will be paid at these hourly rates:

     Daniel J. Weiner                       $465
     Michael E. Baum                        $465
     Howard M. Borin                        $385
     Joseph K. Grekin                       $360
     John J. Stockdale, Jr.                 $315
     Leon N. Mayer                          $295
     Kim K. Hillary                         $300
     Jeffery J. Sattler                     $265
     Shanna Kaminski                        $265
     Jason L. Weiner                        $260
     Nicholas R. Marcus                     $245
     Legal Assistant                        $150

Schafer and Weiner will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Michael E. Baum, partner of Schafer and Weiner, PLLC, assured the
Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and (a) is not
creditors, equity security holders or insiders of the Debtor; (b)
has not been, within two years before the date of the filing of the
Debtor's chapter 11 petition, directors, officers or employees of
the Debtor; and (c) does not have an interest materially adverse to
the interest of the estate or of any class of creditors or equity
security holders, by reason of any direct or indirect relationship
to, connection with, or interest in, the Debtor, or for any other
reason.

Schafer and Weiner can be reached at:

     Michael E. Baum, Esq.
     Schafer and Weiner, PLLC
     40950 Woodward Avenue, Suite 100
     Bloomfield Hills, MI 48304
     Phone: 248-540-3340

               About Fourteenth Avenue Cartage Co

Fourteenth Avenue Cartage Company, Inc. --
http://www.fourteenth.com/-- is a trucking company in Dearborn,
Michigan. It provides intermodal, truck load, and cross-border
deliveries across Michigan, Ohio, Ontario, Indiana, Illinois and
Wisconsin. The Company owns and operates fleet includes over 75
tractors and over 500 trailers, including a variety of intermodal
chassis and containers.

Fourteenth Avenue Cartage Company, Inc., sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. E.D. Mich. Case No.
19-54128) on Oct. 3, 2019. In the petition signed by COO James V.
Ryan, the Debtor was estimated to have assets and debt of less than
$10 million. The Hon. Marci B. McIvor is the case judge. WERNETTE
HEILMAN PLLC is the Debtor's counsel, and Mies and Company, Inc.,
is the financial advisor.

The U.S. Trustee for Region 9 on Oct. 31, 2019, appointed three
creditors to serve on the official committee of unsecured creditors
in the Chapter 11 case.


GENERAC POWER: S&P Rates New $830MM Sr. Secured Term Loan 'BB'
--------------------------------------------------------------
S&P Global Ratings assigned its 'BB' issue-level rating and '3'
recovery rating to Generac Power Systems Inc.'s proposed $830
million senior secured term loan B due 2026. The '3' recovery
rating indicates its expectation for meaningful recovery (50%-70%;
rounded estimate: 65%) in the event of a payment default. The
company plans to use the proceeds from this term loan, along with
$49 million in cash, to replace its existing $879 million senior
secured term loan B. S&P views this transaction as leverage
neutral.

S&P's 'BB' issuer credit rating on Generac remains unchanged. The
stable outlook reflects the rating agency's expectation for steady
operating performance over the next 12 months because the
end-market demand for standby power generation products should
remain generally healthy given the consistent increases in power
outages across the U.S. S&P continues to expect Generac to sustain
solid EBITDA margins and maintain debt leverage below 3x supported
by healthy growth across both its domestic and international end
markets. Despite potential earnings volatility due to the perceived
discretionary nature of big-ticket items and the company's
dependence on outages in its core residential markets, S&P believes
Generac benefits from a reliable brand name and reputation as well
as a strong distribution network and a focus on innovation.

ISSUE RATINGS--RECOVERY ANALYSIS

Key analytical factors

-- Generac's proposed capital structure principally comprises an
$830 million senior secured term loan B due 2026 and a $300 million
asset-based lending (ABL) facility due 2023 (unrated).

-- S&P's rounded recovery estimate of 65% for the proposed $830
million term loan is higher than its rounded estimate (60%) for the
existing $879 million term loan due to the lower principal amount
of the proposed issuance.

-- For the purposes of S&P's recovery analysis, it contemplates a
default occurring in 2024 precipitated by a downturn in the
residential and nonresidential construction markets, material
increases in raw material costs, and the company's inability to
pass through rising raw material costs via increased selling
prices. Because of these factors, the company's capital structure
becomes unsustainable, leading it to seek bankruptcy protection to
restructure.

Simulated default assumptions

-- Simulated year of default: 2024
-- EBITDA at emergence: $149 million
-- Implied enterprise value (EV) multiple: 5.5x
-- Gross EV at emergence: $822 million
-- The ABL facility is 60% drawn at default

Simplified waterfall

-- Net EV (after 5% administrative costs): $781 million
-- Priority claims: $184 million (ABL facility)
-- Collateral value available to secured debt: $544 million
-- Senior secured debt claims: $848 million (term loan)
-- Recovery expectations: 50%-70% (rounded estimate: 65%)

Note: All debt amounts include six months of prepetition interest.


GFL ENVIRONMENT: Moody's Assigns B3 CFR, Outlook Stable
-------------------------------------------------------
Moody's Investors Service assigned a B1 rating to GFL Environmental
Inc.'s proposed new $500 million senior secured notes and affirmed
GFL ratings, including its B3 Corporate Family Rating, its B3-PD
probability of default rating, the B1 ratings on its senior secured
term loan and the Caa2 ratings on its senior unsecured notes. The
ratings outlook remains stable.

GFL is in the process of acquiring County Waste of Virginia, LLC,
an established waste management company based in Virginia and
Eastern Pennsylvania. The acquisition price is approximately C$642
million. GFL will be raising a total of approximately C$1.38
billion in funding through US$500 million (C$662 million equiv.) of
new senior secured notes, an add-on of US$275 million (C$364
million equiv.) to the existing 7.00% senior unsecured notes due
June 1, 2026, a cash equity injection of C$300 million and rolled
equity of approximately C$53 million (equiv.). The C$1.38 billion
in funding sources will be used to pay the acquisition price and
repay the $300 million outstanding on GFL's revolver, with the
remainder of the proceeds left as cash on GFL's balance sheet.

"GFL continues to implement its acquisition growth strategy through
the County acquisition, which will increase GFL's pro forma EBITDA
for FY2019 to close to C$1 billion and increase leverage slightly
to 7.1x from 7x (pro forma for acquisitions made in 2019).
Operational improvements and price optimizations may deleverage
GFL's balance sheet, however, we expect that continuing
acquisitions will keep leverage around this level over the next 12
months", said Louis Ko, a Moody's Vice President and Senior
Analyst.

Assignments:

Issuer: GFL Environmental Inc.

Senior Secured Regular Bond/Debenture, Assigned B1 (LGD2)

Affirmations:

Issuer: GFL Environmental Inc.

Corporate Family Rating, Affirmed B3

Probability of Default Rating, Affirmed B3-PD

Senior Secured Term Loan, Affirmed B1 (LGD2)

Senior Unsecured Regular Bond/Debenture, Affirmed Caa2 (LGD5)

Outlook Actions:

Issuer: GFL Environmental Inc.

Outlook, Remains Stable

RATINGS RATIONALE

GFL's B3 CFR is constrained by: 1) its aggressive acquisition
growth strategy; 2) Moody's expectation that leverage will be
sustained above 6x in the next 12 to 18 months (about 7.1x pro
forma for FY2019E); 3) the short time frame between acquisitions
which increases the potential for integration risks and creates
opacity of organic growth; and 4) GFL's ownership by private
equity, which hinders deleveraging. However, GFL benefits from: 1)
the company's diversified business model; 2) high recurring revenue
supported by long term contracts; 3) its good market position in
the stable Canadian and US non-hazardous waste industry; 4) EBITDA
margins that compare favorably with those of its investment grade
rated industry peers; and 5) good liquidity.

GFL has good liquidity. Sources exceeds C$1.2 billion compared to
about C$35 million of term loan amortization over the next 12
months. GFL will have cash of about C$430 million upon the closing
of the acquisition, full availability under its C$628 million and
$40 million revolving credit facilities, both due August 2023, and
Moody's expected free cash flow of about C$150 million over the
next 12 months to December 2020. Moody's expects a significant
portion of the company's liquidity to be used to fund future
acquisitions early in the new year. GFL's revolver is subject to
leverage and coverage covenants, which Moody's expects will have at
least a 10% cushion over the next four quarters. GFL has limited
flexibility to generate liquidity from asset sales as its assets
are encumbered.

The stable outlook reflects Moody's view that GFL will maintain
stable margins and good liquidity while integrating newly-acquired
businesses in the next 12 to 18 months.

The ratings could be upgraded if GFL demonstrates consistent and
visible organic revenue growth, maintains good liquidity and
sustains adjusted debt/EBITDA towards 5.5x (7.1x pro forma for
FY2019E including the proposed acquisitions) and EBIT/Interest
above 1.5x (0.9x pro forma for FY2019E). The ratings could be
downgraded if liquidity weakens, possibly caused by negative free
cash flow, if there is a material and sustained decline in margins
due to challenges integrating acquisitions or if adjusted
Debt/EBITDA is sustained above 8x (pro forma 7.1x).

Environmental risks considered material are the various regulations
and requirements that GFL is subjected to for the collection,
treatment and disposal of waste. GFL has a long track record of
adhering to the requirements for the proper handling of the waste
materials encountered.

The governance considerations Moody's makes in GFL's credit profile
include the private-equity ownership and the potential for an
aggressive capital structure in comparison to public corporations.
Moody's also considered GFL's track record of completing
debt-financed acquisitions for the expansion of its business as
well as the management team's experience in the successful
integration of the businesses.

GFL Environmental Inc., headquartered in Toronto, is a privately
owned company that provides waste collection, treatment and
disposal solutions and soil remediation services to municipal,
industrial and commercial customers in Canada and the U.S. Pro
forma for acquisitions, annual revenue is approximately C$3.7
billion.

The principal methodology used in these ratings was Environmental
Services and Waste Management Companies published in April 2018.


GFL ENVIRONMENTAL: S&P Affirms 'B' ICR; Outlook Stable
------------------------------------------------------
S&P Global Ratings affirmed its 'B' issuer credit rating (ICR) on
GFL Environmental Inc., which is planning to issue US$775 million
of debt along with about C$300 million of equity that the rating
agency believes will be used to fund prospective acquisitions and
repay amounts drawn under its revolving credit facility.  The
rating agency expects EBITDA from prospective acquisitions to
largely offset higher debt levels from the proposed transaction.

S&P also assigned its 'B+' issue-level and '2' recovery ratings to
the company's proposed US$500 million secured notes due 2026, and
its 'CCC+' issue-level and '6' recovery ratings to GFL's US$225
million add-on to the existing unsecured notes due 2026.

S&P expects EBITDA from the prospective acquisitions to largely
offset higher debt levels from the proposed transaction. It expects
the proposed debt issuance will result in higher than previously
expected adjusted debt-to-EBITDA immediately after closing, but
this should improve over the next 12 months as net proceeds are
used to complete acquisitions. In S&P's view, EBITDA from pending
and prospective acquisitions should offset higher debt levels,
resulting in core credit measures by the end of 2020 that are
largely unchanged from the rating agency's previous review.
Specifically, these include adjusted debt-to-EBITDA of 7x-9x and
adjusted EBITDA interest coverage in the low-2x.

GFL plans to issue US$500 million (about C$662 million) of senior
secured notes due 2026, US$275 million (about C$364 million) of
unsecured notes structured as an add-on to its existing notes due
2026, and raise about C$300 million of cash equity from existing
sponsors. S&P expects about C$640 million of net proceeds from the
issuance will be used to fund the pending acquisition of County
Waste of Virginia LLC (expected to close in January 2020), about
C$300 million will be used to repay amounts drawn under the
company's revolving credit facility, and the remainder (about C$400
million) will primarily be used fund future acquisitions.

The stable outlook reflects S&P's expectation that GFL will
continue to expand its operating breadth through acquisitions that
the rating agency expects will be primarily debt-funded. S&P
forecasts adjusted debt-to-pro forma EBITDA to remain above 6.5x
and adjusted EBITDA interest coverage to be in the low-2.0 area
over the next couple of years.

"We could lower our ratings on the company within the next 12
months if adjusted EBITDA interest coverage falls below 2x. In our
view, this could result from poor execution of integrating
acquisitions, volume and pricing pressure from tough market
conditions, or operating inefficiencies that contribute to
weaker-than-expected earnings and cash flow," S&P said.

"We could raise our ratings on GFL within the next 12 months if
adjusted debt-to-pro forma EBITDA approaches 6x while the company
maintains adjusted EBITDA interest coverage well above 2x. This
could occur if the company completes an initial public offering. In
this scenario, we would expect GFL to generate positive annual free
operating cash flow (FOCF) and see a lower likelihood that the
company could make material acquisitions that return leverage well
above 6x," S&P said.


GO WIRELESS: Moody's Lowers CFR to B2, Outlook Stable
-----------------------------------------------------
Moody's Investors Service downgraded the Corporate Family Rating of
Go Wireless Holdings, Inc. to B2 from B1. Moody's additionally
downgraded the company's Probability of Default Rating to B2-PD
from B1-PD, as well as downgraded the rating on the company's first
lien senior secured term loan to B2 from B1. The outlook is
stable.

The downgrade of the company's Corporate Family Rating to B2
reflects the company's weaker than anticipated operating
performance and credit metrics. "The lengthened upgrade cycle has
led to fewer upgrades and reduced phone and tablet sales as
contract counts have declined, pressuring revenue and EBITDA
generation," stated Moody's Vice President, Adam McLaren.

Downgrades:

Issuer: Go Wireless Holdings, Inc.

Probability of Default Rating, Downgraded to B2-PD from B1-PD

Corporate Family Rating, Downgraded to B2 from B1

Senior Secured Bank Credit Facility, Downgraded to B2 (LGD3) from
B1 (LGD3)

Outlook Actions:

Issuer: Go Wireless Holdings, Inc.

Outlook, Remains Stable

RATINGS RATIONALE

Go Wireless Holdings, Inc. is constrained by the lengthened
customer replacement/upgrade cycle, which has resulted in a
reduction in upgrades and pressured phone and tablet sales, as
contract counts have declined. As a result, leverage, as measured
by Debt/EBITDA, has increased to over 5 times on a trailing
twelve-month basis as of 9/30/2019. While leverage is likely to
remain elevated, the company continues to evaluate closing
underperforming stores as well as realize the benefits from
restructuring its sales organization to reduce expenses and
commissions paid to improve profitability. Moody's view also
considers the company's reliance on cellphone manufacturers for
continued product innovation and the risk of volatile customer
demand related to new product malfunctions or changing consumer
preferences. Go Wireless benefits from its solid competitive
position as a leading independent retailer of Verizon wireless
products, as well as a provider of services and accessories for
mobile electronic devices. While liquidity is adeqaute, lower
earnings and reduced cash balances are a constraint given the high
level or amortization on the company's term loan. The rating also
recognizes Go Wireless' favorable qualitative profile that benefits
from the nondiscretionary nature of cell phones as well as its
diverse sources of revenue, including insurance and warranty
offerings and accessories. The rating also considers Go Wireless'
mutually beneficial relationships with Verizon and cellphone
manufacturers, which is a competitive advantage over smaller
operators.

The stable outlook reflects Moody's expectation that the company
will continue to reduce costs and close underperforming stores to
modestly improve credit metrics over the next 12-18 months and
financial policy will be benign.

Ratings could be upgraded if Go Wireless maintains a conservative
financial policy towards shareholder returns and future
acquisitions, with improving operating performance. Ratings could
be upgraded if debt/EBITDA is maintained below 4.75x and
EBITA/Interest expense of 1.50x. An upgrade would also require the
company to maintain good liquidity.

A rating downgrade could occur if any factors cause debt/EBITDA to
approach 6.0x times and EBITA/Interest near 1.0x, or if liquidity
were to weaken.

Go Wireless Holdings Inc., headquartered in Las Vegas, NV, is a
leading independent retailer of Verizon wireless products, in
addition to accessories and services for mobile devices. The
company operates over 715 stores in 32 states. Revenue for the last
twelve-month period ended 9/30/2019 was approximately $1 billion.
Go Wireless is wholly owned by company management.

The principal methodology used in these ratings was Retail Industry
published in May 2018.


GRAMERCY GROUP: Parziales to Contribute $4.25M to Fund Plan
-----------------------------------------------------------
Debtor Gramercy Group, Inc., filed with the U.S. Bankruptcy Court
for the Eastern District of New York a Third Amended Disclosure
Statement with respect to its Amended Chapter 11 Plan of
Reorganization.

Current general unsecured claims total $42,134,025 but the Debtor
expects allowed unsecured claims to total only $20,000,000.  Each
holder of an allowed general unsecured claim shall receive on or as
soon as reasonably practicable after the Effective Date, and in
full, final and complete satisfaction, settlement, release, and
discharge of such Claim, its pro rata share of $1,000,000.

On the Effective Date, with the exception of any Claims and Causes
of Action released pursuant to Article XII of the Plan or as
expressly provided in the Plan, all right, title and interest in
and to the property and assets of the Estate, including all Causes
of Action, will vest fully in Reorganized Gramercy, free and clear
of all liens, encumbrances and other liabilities including, without
express or implied limitation, Claims against or Equity Interests
in Gramercy.  

The Distributions required to be made to Holders of Claims under
the Plan will be funded by the New Value Contribution and, if
necessary, Cash on hand.

Mr. Vincent Parziale and Mrs. Joanna Parziale will make the New
Value Contribution of $4,250,000, which consists of: (i) $750,000
in Cash to be contributed by the Parziales and (ii) $3,500,000 in
Cash from the refinance of the Wantagh Property, of which Mr.
Parziale and Mrs. Parziale will each control a fifty percent (50%)
interest on or before the Effective Date.  The New Value
Contribution will be in exchange for receipt of equity in
Reorganized Gramercy.  The New Value Contribution will be utilized
by Reorganized Gramercy to fund obligations under the Plan.

A full-text copy of the Third Amended Disclosure Statement is
available at https://tinyurl.com/vystcd4 from PacerMonitor.com at
no charge.

                     About Gramercy Group

Gramercy Group, Inc. -- http://gramercyusa.com/-- began operations
in 1989, offering turnkey solutions in environmental remediation
and demolition. It has expanded to provide more services, including
heavy civil and general contracting services. The company is
headquartered in Wantagh, N.Y.  

Gramercy Group sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. E.D.N.Y. Case No. 19-73622) on May 17, 2019. At the
time of the filing, the Debtor was estimated to have assets of
between $10 million and $50 million and liabilities of between $10
million and $50 million. The case is assigned to Judge Louis A.
Scarcella. The Debtor is represented by Cullen & Dykman LLP and
Otterbourg P.C.


GREEN BUILDERS: $1.2M From Sands to Fund 100% Plan
--------------------------------------------------
Debtor Green Builders 2020, LLC filed with the U.S. Bankruptcy
Court for the Eastern District of New York a disclosure statement
in connection with its plan of reorganization dated June 26, 2018.

The allowed secured claim will be paid in full over a period of 60
months, in accordance with the schedule set forth in the plan,
unless otherwise agreed to by such claim holder.  The Debtor
estimates the aggregate, the approximate amount of allowed secured
claims to be $990,000, plus interest as it accrues.

The Plan indicates does not provide any treatment for general
unsecured claims and does not indicate if there are unsecured
claims.

On the Effective Date, the Debtor will obtain sufficient funds to
implement the Plan.  Specifically, Sands Capital will lend Debtor
the sum of $1,200,000.  The sum received by Debtor will be used to
pay the entire debt owed to the only secured creditor over a 60
month period.

The Debtor anticipates that the infusion of funds from Sands
Capital will allow the Debtor to make all the distributions
contemplated under this Plan in full.  As a result, the Debtor
submits that the Plan is certainly feasible.

A full-text copy of the disclosure statement is available at
https://tinyurl.com/yx6zbfw3 from PacerMonitor.com at no charge.

The Debtor is represented by:

    SOLOMON ROSENGARTEN
    1704 Avenue M
    Brooklyn, New York 11230
    Tel: (718) 627-4460

                  About Green Builders 2020

Green Builders 2020, LLC, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. E.D.N.Y. Case No. 19-41478) on March 13,
2019. At the time of the filing, the Debtor estimated assets of $1
million and $10 million and liabilities of less than $1 million.
Solomon Rosengarten, Esq., an attorney based in Brooklyn, N.Y., is
representing the Debtor.


GREGORY L. MOLDEN: Seeks to Hire Patrick Gros as Accountant
-----------------------------------------------------------
Gregory L. Molden M.D. Inc., seeks authority from the U.S.
Bankruptcy Court for the Eastern District of Louisiana to employ
Patrick Gros CPA, APAC, as accountant to the Debtor.

Gregory L. Molden requires Patrick Gros to:

   -- prepare the monthly operating reports required to be filed
      by the Debtor;

   -- maintain the Debtor's bank account; and

   -- prepare other financial documents necessary to confirm the
      Plan to be filed in this case.

Patrick Gros will be paid at these hourly rates:

     Partners          $225
     Managers          $175
     Seniors           $140
     Staffs            $95

Patrick Gros will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Patrick Gros, partner of Patrick Gros CPA, APAC, 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.

Patrick Gros can be reached at:

     Patrick Gros
     Patrick Gros CPA, APAC
     651 River Highlands Boulevard
     Covington, LA 70433
     Tel: (985) 898-3512

                About Gregory L. Molden MD Inc.

Gregory L. Molden M.D. Inc., filed a Chapter 11 bankruptcy petition
(Bankr. E.D. La. Case No. 19-12073) on Aug. 1, 2019, disclosing
under $1 million in both assets and liabilities.  The Debtor is
represented by THE DE LEO LAW FIRM, LLC.


HB2 LLC: Court Approves Cash Collateral Request
-----------------------------------------------
Judge Brenda T. Rhoades authorized HB2, LLC to use cash collateral
for the sole purpose of maintaining business operations in the
ordinary course.  

The Court ruled that:

    (a) the Debtor will tender monthly adequate protection payments
to Bank of Texas commencing November 1, 2019 as follows:

        * by the 10th day of each month, the Debtor will disburse
to Bank of Texas 75% of the aggregate balance of all of its bank
accounts, including its DIP Account and the account at Bank of
Texas as of the last business day of the previous month;

        * adequate Protection Payments will continue on the 10th
day of each month thereafter until the earlier of: (1) confirmation
of a Chapter 11 Plan; (2) the parties stipulate otherwise; or (3)
the Court orders otherwise.

    (b) as additional adequate protection for the Debtor's use of
any Cash Collateral of Bank of Texas, Bank of Texas will be granted
replacement lien(s) in the Debtor's post-petition cash, accounts
receivable and inventory, and all proceeds thereof, to the same
extent and priority as any duly perfected and unavoidable liens in
cash collateral held by Bank of Texas as of the Petition Date.

    (c) Bank of Texas reserves its right to object to the Debtor's
proposed Chapter 11 Plan or Disclosure Statement, file a Motion for
Relief from the Automatic Stay, file a Motion to Dismiss or Convert
the Case.

A copy of the Order is available at https://is.gd/PpYD48 from
PacerMonitor.com for free.

                          About HB2 LLC

HB2 LLC, d/b/a Integrity Labs, d/b/a Elite Toxicology, LLC, offers
medical and diagnostic laboratory services.

HB2 LLC filed a Chapter 11 petition (Bankr. E.D. Tex. Case No.
19-41323) on May 16, 2019 in Sherman, Texas.  In the petition
signed by Wade V. Rosenburg, manager, the Debtor estimated between
$1 million and $10 million in both assets and liabilities.  The
Honorable Brenda T. Rhoades is the case judge.  QUILLING, SELANDER,
LOWNDS, WINSLETT & MOSER, PC, represents the Debtor.



HENLEY PROPERTIES: Seeks to Hire Berryman Realty as Realtor
-----------------------------------------------------------
Henley Properties, LLC, seeks authority from the U.S. Bankruptcy
Court for the Western District of Missouri to hire Berryman Realty
as its realtor.

Berryman Realty is to sell the Mountain View arkansas property
(Lots 1,5,8 and 13 Round Bottom Estates) and the Lot 21 Hanford
Bluff Views Acres property, at a commission of 8 percent of gross
sale proceeds.

Greg Berryman of Berryman Realty assures the court that he is a
disinterested person within the meaning of 11 U.S.C. Sec. 101(14).

The realtor can be reached at:

     Greg Berryman
     Berryman Realty
     116 East Main St.
     Mountain View, AR 72560
     Phone: (870) 269-7722
     Email: gregberrymanrealty@gmail.com

                 About Henley Properties

Henley Properties, LLC, owns and operates weddings and events
venue.

Henley Properties sought Chapter 11 protection (Bankr. W.D. Mo.
Case No. 19-30422) on Aug. 6, 2019.  In the petition signed by
Floyd W. Henley and Rebecca L. Henley, members, the Debtor
disclosed total assets at $2,973,329 and $1,192,562 in debt.  The
case is assigned to Judge Brian T. Fenimore.  The Debtor tapped
Mariann Morgan, Esq., at Checkett & Pauly as counsel.


HOOPERS CONCRETE: Seeks to Hire Stichter Riedel as Counsel
----------------------------------------------------------
Hoopers Concrete & Block, LLC, seeks authority from the US
Bankruptcy Court for the Middle District of Florida to hire
Stichter, Riedel, Blain & Postler, P.A. as its counsel.

The services to be rendered by Stichter Riedel are:

     a. render legal advice with respect to the Debtor's powers and
duties as debtor in possession, the continued operation of the
Debtor's business, and the management of its property;

     b. prepare on behalf of the Debtor necessary motions,
applications, orders, reports, pleadings, and other legal
papers;

     c. appear before this Court and the United States Trustee to
represent and protect the interests of the Debtor;

     d. assist with and participate in negotiations with creditors
and other parties in interest in formulating a plan of
reorganization, drafting such a plan and a related disclosure
statement, and taking necessary legal steps to confirm such a
plan;

     e. represent the Debtor in all adversary proceedings,
contested matters, and matters involving administration of this
case;

     f. represent the Debtor in negotiations with potential
financing sources, and preparing contracts, security
instruments, and other documents necessary to obtain financing;

     g. represent the Debtor in sale negotiations with potential
purchasers, and preparing letters of intent, asset purchase
agreements, and other documents associated with the sale of
substantially all assets of the estate; and

     h. perform all other legal services that may be necessary for
the proper preservation and administration of this Chapter 11
case.

The Debtor has agreed to compensate Stichter Riedel on an hourly
basis in this case in accordance with Stichter Riedel's ordinary
and customary rates.

Mark F Robens, Esq., attorney at Stichter Riedel, attests that the
firm is disinterested as defined in 11 U.S.C. Sec. 101(14).

The firm can be reached through:

     Mark F Robens, Esq.
     Stichter, Riedel, Blain & Postler, PA
     110 E. Madison St., Suite 200
     Tampa, FL 33602-4700
     Phone: 813-229-0144
     Email: mrobens.ecf@srbp.com

                About Hoopers Concrete

Based in Springfield, Florida, Hoopers Concrete & Block, LLC, filed
its voluntary petition for relief under Chapter 11 of the
Bankruptcy Code (Bankr. M.D. Fla. Case No. 19-11198) on Nov. 25,
2019, listing under $1 million in both assets and liabilities.
Mark F. Robens, Esq., at Stichter, Riedel, Blain & Postler, P.A.,
represents the Debtor as counsel.


HOSTESS BRANDS: S&P Alters Outlook to Negative on Voortman Deal
---------------------------------------------------------------
S&P Global Ratings revised its outlook on Hostess Brands Inc. to
negative from stable and affirmed its 'B+' issuer credit rating on
the company and its 'BB-' issue-level rating on its senior secured
credit facilities.

The outlook revision follows the company's announcement that it is
acquiring Voortman Cookies Ltd., a manufacturer of premium branded
wafers and sugar-free and specialty
cookies, for $331 million. S&P expects the company to fund the
acquisition with a $140 million add-on to its term loan and $191
million of cash from its balance sheet.

The acquisition will increase Hostess' adjusted leverage to 5.6x as
of the close of the transaction before it improves to 5.2x as of
the end of 2020, which is above S&P's current 5.0x downgrade
trigger and the rating agency's previous expectation for leverage
in the low-4x area as of the end of fiscal year 2019. However, S&P
expects the company's leverage to materially decline in the first
quarter of 2021 because the one-time costs associated with
integrating Voortman and achieving the targeted synergies will
roll-off.

The affirmation reflects S&P's forecast for a significant reduction
in Hostess' leverage by the first quarter of 2021 as the company
laps the one-time cash expenses related to the acquisition in
2020.

The acquisition of Voortman will be the largest purchase the
company has undertaken under its current management team. Hostess
recently moved its long-time CFO Tom Peterson into a merger and
acquisition (M&A) and strategy role to lead the integration of this
acquisition. The company also plans to hire an advisory team and
use outside consultants to assist with the integration. Given the
size of the transaction and the amount of cash S&P expects the
company to spend in 2020, the rating agency believes the company's
net leverage will remain just above 5.0x during the year before
declining significantly to near 4.0x in 2021 as the cash costs to
achieve the targeted synergies from the transaction roll-off and it
realizes the remainder of these synergies. However, if Hostess is
forced to spend additional cash to achieve synergies in 2020, grows
its EBITDA by less than S&P expects, or does not realize its
targeted synergies, its leverage could remain well above the rating
agency's 5x downgrade trigger and cause the rating agency to lower
its rating.

The negative outlook on Hostess reflects that S&P could lower its
ratings over the 12 months following the close of the transaction
if the company's base EBITDA does not increase or the rating agency
expects that the company's will fail to achieve the targeted
synergies, resulting in leverage being sustained over 5x.

"We could lower our rating on Hostess if we expect its leverage to
remain above 5x for the 12 months following the close of the
transaction. This could occur if the company experiences
integration issues and fails to realize its anticipated synergies
in 2020, either due to an extended timeline to fully transition
Voortman to a warehouse distribution model or because of challenges
in integrating its technology. We could also lower the rating if
the company pursues more aggressive financial policies, including
another acquisition, or embarks on other shareholder-friendly
activities such as issuing a formal dividend policy or repurchasing
stock," S&P said.

"We could revise our outlook on Hostess if we believe it is on
track to realize its expected synergies and the company does not
experience any integration missteps, leading its leverage to
decline below 5x for the 12 months following the close of the
transaction. Although unlikely during the next year, we could raise
our rating if Hostess continues to increase its market share,
scale, and diversity or maintains financial leverage of less than
4x due to a less aggressive financial policy," S&P said.


HTUSA CAR: Seeks Authorization to Use Cash Collateral
-----------------------------------------------------
HTUSA Car Wash & Lube, Inc., seeks authority from the U.S.
Bankruptcy Court for the Northern District of Georgia for the
limited use of cash collateral.

HTUSA took out a loan pre-petition with Metro City Bank. HTUSA
granted Metro City a security interest in substantially all its
pre-petition property. As of the Petition Date, Metro City claims
approximately $3,595,563.

HTUSA proposes to grant Metro City with adequate protection in the
form of replacement lien on post-petition cash and inventory to the
limited extent that Metro City had such lien on the Petition Date.

                   About HTUSA Car Wash & Lube
  
HTUSA Car Wash & Lube, Inc. sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. N.D. Ga. Case No. 19-64013) on Sept. 3,
2019.  At the time of the filing, the Debtor was estimated to have
assets of less than $50,000 and liabilities of less than $50,000.
The case has been assigned to Judge Barbara Ellis-Monro.  The
Debtor is represented by Michael D. Robl, Esq., at Robl Law Group
LLC.


ICAHN ENTERPRISES: S&P Rates New Unsecured Notes 'BB+'
------------------------------------------------------
S&P Global Ratings assigned its 'BB+' issue rating and '3' recovery
rating to Icahn Enterprises L.P.'s (IEP) proposed senior unsecured
notes issuance due in 2027. The '3' recovery rating indicates its
expectation for meaningful recovery (65%) in the event of default.

S&P is assuming IEP will issue no more than $500 million and that
IEP will use the proceeds for general partnership purposes.

As of Sept. 30, 2019, IEP's loan-to-value (LTV) ratio was close to
30%, driven by the company's sizable cash balance (which S&P nets
against debt in its LTV calculation). The company's cash balance
has been growing during the last 12 to 18 months as a result of
realizations and debt issuances. S&P continues to view the
company's LTV ratio as low relative to historical standards and
believe that the long-term leverage is still unclear given the
opportunistic nature of the firm. As a result, while the firm is
currently well positioned both from a liquidity and leverage
(measured by LTV) standpoint, S&P does not disregard the
possibility of a higher LTV ratio in the future as a result of a
sizable drawdown in cash to fund new investment opportunities,
which the rating agency currently views as a key constraint for an
upgrade.


INGEVITY CORP: Fitch Affirms BB LT IDR, Outlook Stable
------------------------------------------------------
Fitch Ratings affirmed the Long-Term Issuer Default Rating of
Ingevity Corporation at 'BB'. Fitch has also affirmed the company's
senior secured term loan and revolving credit facility at
'BB+'/'RR1,' assigned the senior secured incremental term loan at
'BB+'/'RR1' and affirmed its senior unsecured notes at 'BB'/'RR4'.
The Rating Outlook is Stable.

The ratings reflect the company's relatively modest size, strong
margins owing to technological and market leadership in activated
carbon for auto emissions control, heightened exposure to cyclical
end-markets and its generally modest leverage. The Stable Outlook
reflects Fitch's expectations that total debt to EBITDA will trend
to 2.5x by 2022. Fitch believes that the company will continue to
seek inorganic growth opportunities to boost scale and
diversification, but that capital deployment following any future
leveraging transaction will be prioritized toward debt reduction in
order to return to management's net debt to EBITDA target of
between 2.0x-2.5x.

KEY RATING DRIVERS

Emissions Standards Benefit Materials: Volume in the Performance
Materials segment is driven by gasoline vapor emissions regulation.
The company has a very high market share and technology leadership,
which should enable segment EBITDA margins to be sustained over
40%. Regulations are already in place in the U.S. and Canada to
phase in control systems that make more use of higher-margin
activated carbon and other regions are currently implementing
increasingly stringent emission regulations (China 6, Euro 6d
etc.). Fitch believes that the increase in global emission
regulations more than offsets slowing auto sales and the
longer-term threat of continued electric vehicle adoption.

Challenges to Tall Oil Business: Some of Ingevity's Performance
Chemical (PC) segment products compete with products derived from
petroleum. Fitch's outlook on oil prices is flat to modestly down
through 2022, leading Fitch to believe price appreciation for some
PC products will be limited.

The oil field technologies end-market has recently suffered from
softening trends. The pavement technologies end-market benefits
from specific characteristics to extend road life and reduce energy
usage and should benefit from any increase in infrastructure
spending. Ink resins suffer from the secular decline in demand for
printing inks.

Fitch believes that while Ingevity's PC segment has exposure to
cyclical end-markets, the company benefits from its geographic and
end-market diversification and the shift of mix to higher margin
applications, which provide some downward protection to volumes and
profitability.

Leveraging Acquisitions Adds Scale, Diversification: Ingevity
acquired Georgia-Pacific's pine chemicals business in March 2018
for $310 million in cash using cash on hand from its January 2018
debt issuance to fund the purchase price. The acquisition added
scale, additional sources of crude tall oil, complementary
products, synergistic and tax benefits to the company's PC
segment.

Additionally, the company purchased the Capa caprolactone division
of Perstorp Holding AB in February 2019 for approximately EUR580
million (about $650 million) funded with cash on hand and revolver
drawings. The acquisition added diversification and further
benefits Ingevity given the higher EBITDA margin (low-mid 30%)
products.

Following the Capa acquisition in first-quarter 2019, Fitch
calculated total debt to EBITDA was 4.3x, up from 2.4x at YE 2018.
Fitch projects total debt to EBITDA to drop to 3.0x or under by the
end of 2020.

FCF Generation: Fitch's base case forecasts Ingevity generates
around $200 million in annual FCF through the ratings horizon given
its strong EBITDA margins, limited working capital risk from its
supply agreements and relatively low capital intensity with capital
spending averaging around 7% of sales. Provided the company is
within its 2.0x-2.5x net leverage target, Fitch expects FCF to be
allocated toward acquisitions and share repurchases. Following any
additional leveraging transactions, Fitch believes the company will
prioritize debt repayment to return to its target.

Share-Repurchase Program: In November 2018, the board authorized
the repurchase of up to $350 million of common stock, in addition
to the $100 million authorization made in February 2017. As of
Sept. 30, 2019, the company repurchased approximately $61 million,
which leaves $389 million remaining available for repurchase. The
program is fully discretionary and Fitch believes purchases will be
modest while gross leverage is above 3.0x.

DERIVATION SUMMARY

Ingevity Corp. is smaller than specialty chemical issuers such as
Axalta Coatings Systems, Ltd, Ashland Global Holdings, Inc. and
W.R. Grace & Co. but generally maintains a conservative capital
structure. Ingevity's total debt to EBITDA is expected to be at or
under 3.0x by year-end 2020, consistent with management's
pre-acquisition leverage target. EBITDA margins for Ingevity are
generally higher compared with peers with margins generally in the
low-mid 20% range, with Fitch's expectations for Ingevity's margins
to be around 30% throughout the forecast. This is largely due to
the company's market position in its Performance Materials segment,
which consistently sees margins above 40%. However, Fitch views the
company's performance chemicals segments as having a higher degree
of exposure to cyclical end-markets compared with peers. The
company is strategically shifting toward higher value product
offerings within its PC segment to reduce its earnings volatility,
as exemplified by its Capa acquisition.

KEY ASSUMPTIONS

Fitch's Key Assumptions Within the Rating Case for the Issuer
  
  - 2019 forecast largely in line with guidance;

  - Revenues grow around 2.0%-2.5% on a consolidated basis in
2020-2022;

  - Operating EBITDA margins at around 30%-31% on average;

  - Capex at guidance;

  - No acquisitions forecasted;

  - Excess cash flow applied to share repurchases when net leverage
is within management target.

RATING SENSITIVITIES

Developments That May, Individually or Collectively, Lead to
Positive Rating Action

  - Adherence to financial policy that demonstrates a clear
commitment to de-leveraging to a total debt to EBITDA or FFO
adjusted net leverage sustained below 2.5x;

  - Continued trend toward higher EBITDA margins that demonstrates
successful execution of the shift towards higher value add
products.

Developments That May, Individually or Collectively, Lead to
Negative Rating Action

  - Deviation from financial policy resulting in total debt to
EBITDA or FFO adjusted net leverage sustained above 3.5x;

  - Capital allocation prioritization towards additional
acquisitions or stock repurchases in favor of debt repayments;

  - Deterioration of EBITDA margins suggesting an inability to
execute its strategy of high-grading.

LIQUIDITY AND DEBT STRUCTURE

Adequate Liquidity: As of Sept. 30, 2019, cash on hand for Ingevity
was $75.6 million with $554.9 million of remaining availability
under the $750 million revolving credit facility due Aug. 7, 2023.
Fitch expects annual FCF generation to average around $200 million,
which should provide the company with adequate liquidity.

In March 2019, the company issued $375 Incremental Term A-1 Loans,
with proceeds used to repay the revolver borrowings used for the
Capa acquisition. The Incremental Term A-1 Loans are not subject to
amortization, with the full principal balance due on Aug. 7, 2022.
Scheduled debt payments are minimal at initial term loan
amortization during the forecast period, until the Incremental term
loans mature in 2022.

ESG CONSIDERATIONS

Unless otherwise disclosed in this section, the highest level of
ESG credit relevance is a score of 3 - ESG issues are credit
neutral or have only a minimal credit impact on the entity, either
due to their nature or the way in which they are being managed by
the entity.


INSYS THERAPEUTICS: Files Amended Plan of Liquidation
-----------------------------------------------------
Insys Therapeutics, Inc., and its affiliated debtors filed with the
U.S. Bankruptcy Court for the District of Delaware a disclosure
statement for its Amended Joint Chapter 11 Plan of Liquidation.

Following weeks of negotiations, a mediation facilitated by Judge
Kevin Carey and a second, more limited mediation facilitated by
Eric Green, the Debtors, the Creditors' Committee, and certain key
creditor constituencies reached a resolution on the framework of a
consensual plan. The Plan attached to this Disclosure Statement is
the result of those negotiations and settlements.

The Debtors anticipate having various assets on hand as of the
Effective Date of the Plan, some of which will be unliquidated.
These assets, and an estimated value thereof (which may be
materially higher or lower), include:

   * cash on hand in a current estimated amount of $39 million;

   * unliquidated business or operating assets (if any) that remain
unsold as of the Effective Date (see Section 5.6) (estimated at
negligible value);

   * royalty and other payments from the purchaser of SUBSYS
("Subsys") (estimated at approximately $60 million nominal and not
net present) value (see Section 5.6(a)(iii));

   * potential claims against certain insurance policies of the
Debtors (estimated at between $0 to $56 million (see Section
5.6(b)); and

   * unliquidated litigation claims and causes of action against
numerous parties for, among other things, breaches of fiduciary
duty, the receipt of preference payments, and potential fraudulent
(and other avoidable) transfers (see Section 5.6(b)(i), (iii), and
(iv)) (recoveries for potential preference and fraudulent transfers
are estimated at approximately $9 million; the Debtors have not
estimated potential recoveries for other potential causes of
action, including potential recovery of legal fees and expenses
paid to or on behalf of former officers and directors of the
Debtors).

The ability to liquidate and collect on the Debtors' unliquidated
assets is far from certain. The Debtors may not be able to sell
their remaining business or operating assets and may instead incur
additional expense to wind-down and dispose of those remaining
business or operating assets. Similarly, the value of the royalties
related to Subsys is uncertain. Moreover, in addition to the
potential litigation risks inherent in reducing the Debtors'
litigation and insurance assets to judgment, there are significant
risks associated with collecting on those judgement, if and when
rendered in favor of the Debtors.

As a result of these various factors, it is impossible to place a
precise value on the Debtors' anticipated assets as of the
Effective Date. It is expected, however, that the Debtors' assets
will be insufficient, by a wide margin, to satisfy unsecured claims
against the Debtors' estates.

The General Unsecured Claims against the Debtors, generally, fall
into one of the following categories and have been classified under
the Plan as follows:

   * Class 3 Convenience Class Claims, which include any General
Unsecured Claims asserted as liquidated or scheduled as neither
contingent, disputed, nor unliquidated, in each case, in an amount
no greater than $[•]. The Debtors estimate that Allowed
Convenience Class Claims will not exceed $[•] million in total;

   * Class 4 Trade and Other Unsecured Claims, which include
Creditors' claims for, generally, goods and services provided
prepetition, employee indemnification, contract rejection damages
and other General Unsecured Claims not otherwise categorized in
Classes 5—9 described below;

   * Class 5 Insurance Related Claims, which includes Claims by (1)
health insurers, union health and welfare funds, and all other
private providers of health care benefits, including providers of
private employer sponsored self-insured health plans subject to the
Employee Retirement Income Security Act of 1974 (the "ERISA Health
Plan Claimants"), and  including administrative service providers
or agents on their behalf (collectively, the "Third Party Payors"
or the "TPPs") for fraud leading to the improper reimbursement and
payment of prescription costs for Subsys, and (2) insurance rate
payers (the "Insurance Ratepayers") for the increase of insurance
premium rates related to the Debtors' conduct;

   * Class 6 Hospital Claims and NAS Monitoring Claims, which
include Claims held by hospitals, other than those operated by the
United States Government, (the "Hospitals"), and children with
neonatal abstinence syndrome ("NAS Children") for damages6 caused
by the Debtors' alleged role in the worsening opioid crisis;

   * Class 7 DOJ Claims, which include the DOJ Civil Claims and the
DOJ Criminal Forfeiture Claim held by the United States Department
of Justice (the "DOJ").  Class 7 does not include any Claim filed
by the DOJ on behalf of Insys' creditors seeking restitution. Such
Claims are classified and will be treated in the Plan Class
attributable to the underlying claimant (e.g., any portion of a DOJ
restitution claim made on behalf of a TPP is classified and treated
in Class 5 – Insurance Related Claims);

   * Class 8 SMT Group Claims, which include Claims held by States,
Municipalities, Native American Tribes, and the of the U.S.
Government – for, among other things, consumer fraud, deceptive
practices, false claims, negligence, violations of RICO, public
nuisance and abatement; and

   * Class 9 Personal Injury Claims, which include personal injury
plaintiffs' and similar claimants' claims, including bodily injury
claims of addicted individuals, the families of addicted
individuals, and NAS Children (collectively, the "Personal Injury
Claimants"), for, among other things, bodily injury, addiction,
wrongful death and loss of consortium.

Since the Petition Date and appointment of the Creditors' Committee
in these Chapter 11 Cases, the Debtors have been working steadily
to develop a consensual chapter 11 plan (see Section 5.7).  During
the month of August, and concluding on August 31, 2019, the
Debtors, the Creditors' Committee, and representatives of each of
the creditor groups listed above (other than the DOJ, who had
previously entered into a settlement agreement with the Debtors)
participated in mediation.10 Though the August mediation was not
100% successful, the Debtors have been able to reach consensus and
settlement with the Creditors' Committee and certain creditors
(collectively the "Settling Creditors") with respect to the Plan
on, generally, the following terms:

   * On the Effective Date, or as soon as practicably possible
thereafter and subject to reserves for administrative and priority
claims against the Debtors' estates, all assets of the Debtors will
be transferred to one of two trusts for the benefit of the Debtors'
creditors;

   * One such trust, the Victims Restitution Trust, will receive an
assignment of the Debtors' product liability insurance policies and
any proceeds thereof for the benefit of (i) the Personal Injury
Claimants and (ii) States, Municipalities and Native American
Tribes (the entities in (ii), collectively, the "SMT Group");

   * The second trust, the Insys Liquidation Trust, will receive an
assignment of all other assets of the Debtors and will be charged
with winding down the Debtors, liquidating their assets, and making
distributions to the Debtors' creditors, other than the Personal
Injury Claimants, whose sole recovery will be from the Victims
Restitution Trust;

   * The Debtors will make distributions of [•]% to holders of
Allowed Convenience Class Claims (of $[•] or less).  The Debtors
anticipate payments to holders of Allowed Convenience Class Claims
will be in the range of $[•];

   * The Debtors will make Pro Rata distributions from the Insys
Liquidation Trust to Classes 4 through 8 based on a formula taking
into account the following estimated claim amounts:

     -- The aggregate of Allowed Claims in Class 4 at the TUC Class
Amount (not to exceed $[•] million);

     -- The aggregate of Allowed Claims in Class 5 at $[•]
million;  

     -- The aggregate of Allowed Claims in Class 6 at $[•]
million;

     -- The aggregate of Allowed Claims in Class 7 at $273 million;
and

     -- The aggregate of Allowed Claims in Class 8 at $[•]
million.

   * Pursuant to the Plan Settlement, the Personal Injury Claimants
in Class 9 will receive their Pro Rata share of 90% of the proceeds
(if any) of the Debtors' Products Liability Insurance Proceeds, to
the extent recovered, subject to the terms of the Claims Analysis
Protocol.  Each SMT Group Claim in Class 8 will receive, as
restitution, from the Insys Liquidation Trust and the Victims
Restitution Trust, as applicable, its Pro Rata share of (i) Estate
Distributable Value attributable to Class 8 calculated in
accordance with the Plan Distribution Formula, (ii) a ten percent
(10%) interest in any Products Liability Insurance Proceeds, and
(iii) a one-hundred percent (100%) interest in any Excess Products
Liability Insurance Proceeds; provided, however, that no
Distributions shall be made to holders of Allowed SMT Group Claims
until the Pro Rata share is determined in accordance with Section
4.8(c) of the Plan.  

The Claims Analysis Protocol was negotiated and agreed to by
representatives of the Creditors' Committee, the SMT Group and
certain Personal Injury Claimants after a second mediation approved
by the Court and conducted with Eric Green as the mediator. Based
on the Debtors' analyses and the analyses of the Debtors'
consultant, Nathan Associates, Inc., and in consultation with the
Creditors' Committee (which itself conducted an independent and
privileged analysis of certain of the claims listed above regarding
the appropriate allocation of value in the exercise of its
fiduciary duties) and various creditor constituencies, the Debtors
and the Creditors' Committee, in the exercise of their respective
fiduciary duties, believe the allocations under the Plan and the
distribution process set forth therein are fair and in the best
interests of the estates and their creditors.

A full-text copy of the Amended Plan is available at
https://tinyurl.com/sqxcodf from PacerMonitor.com at no charge.

                    About Insys Therapeutics

Headquartered in Chandler, Ariz., Insys Therapeutics, Inc.
--http://www.insysrx.com/-- is a specialty pharmaceutical company
that develops and commercializes innovative drugs and novel drug
delivery systems of therapeutic molecules that improve patients'
quality of life. Using proprietary spray technology and
capabilities to develop pharmaceutical cannabinoids, Insys is
developing a pipeline of products intended to address unmet medical
needs and the clinical shortcomings of existing commercial
products. Insys is committed to developing medications for
potentially treating anaphylaxis, epilepsy, Prader-Willi syndrome,
opioid addiction and overdose, and other disease areas with a
significant unmet need.

As of March 31, 2019, Insys had $172.6 million in total assets,
$336.3 million in total liabilities, and a total stockholders'
deficit of $163.7 million.

On June 10, 2019, Insys Therapeutics and six affiliated companies
filed petitions seeking relief under Chapter 11 of the Bankruptcy
Code (D. Del. Lead Case No. 19-11292). Insys intends to conduct
asset sales in accordance with Section 363 of the U.S. Bankruptcy
Code.

The Debtors' cases are assigned to Judge Kevin Gross.

The Debtors tapped Weil, Gotshal & Manges LLP and Richards, Layton
& Finger, P.A., as legal counsel; Lazard Freres & Co. LLC as
investment banker; FTI Consulting, Inc. as financial advisor; and
Epiq Corporate Restructuring, LLC as claims agent.

Andrew Vara, acting U.S. trustee for Region 3, on June 20, 2019,
appointed nine creditors to serve on an official committee of
unsecured creditors in the Chapter 11 cases. Akin Gump Strauss
Hauer & Feld LLP, and Bayard, P.A., serve as the Committee's
attorneys; and Province, Inc., is the financial advisor.

After selling substantially all of their assets, the Debtors filed
a Chapter 11 Plan and Disclosure Statement.



ISTAR INC: S&P Rates New $500MM Senior Unsecured Notes 'BB-'
------------------------------------------------------------
S&P Global Ratings assigned its 'BB-' issue rating on iStar Inc.'s
new $500 million senior unsecured notes due 2025. The company
intends to use the proceeds to repay its $375 million senior notes
maturing in 2022 and pay down some of its senior secured term loan.
While the issuance has no impact on S&P's ratings on iStar, it
views positively the resulting increase in unencumbered assets and
iStar's proactive debt management, as it will have no debt
maturities until 2022.



J-H-J INC: U.S. Trustee Forms 3-Member Committee
------------------------------------------------
David Asbach, acting U.S. trustee for Region 5, on Dec. 9, 2019,
appointed three creditors to serve on the official committee of
unsecured creditors in the Chapter 11 cases of J-H-J, Inc. and its
affiliates.
  
The committee members are:

     (1) Scariano Brothers, LLC  
         Gerard M. Schmitz
         11052 Scariano Lane
         Hammond, LA 70403
         (225) 448-0519
         gerard@scariano.com

     (2) Coca-Cola Bottling Company United, Inc.
         Jeff Shofner
         600 Beacon Pkwy W, Suite 601
         Birmingham, AL 35209

     (3) Roberson Advertising Service, LLC
         Michael E.L. Roberson
         315 Industrial Parkway Drive
         Bogalusa, LA 70427
  
Official creditors' committees serve as fiduciaries to the general
population of creditors they represent.  They may investigate the
debtor's business and financial affairs. Committees have the right
to employ legal counsel, accountants and financial advisors at a
debtor's expense.

                         About J-H-J Inc.

J-H-J, Inc. is the lead debtor in the jointly administered cases
with eight debtor affiliates (Bankr. W.D. La. Lead Case No.
19-51367) filed on November 15, 2019 in Lafayette, La.   

JHJ, a Louisiana corporation, was formed in 1984 for the purpose of
owning and operating retail grocery stores in the Baton Rouge
metropolitan area.  Currently, JHJ owns and operates two such
stores.  Beginning in 1998, the remaining Debtors were formed by
certain shareholders of JHJ for purposes of operating retail
grocery stores in various locations in southern Louisiana.
Collectively, the Debtors currently own and operate 12 grocery
stores under the names Piggly Wiggly or Shoppers Value.  All
general administrative duties for the Debtors are handled by JHJ.

The Debtor affiliates are: (i) Lafayette Piggly Wiggly, LLC; (ii)
T.H.G. Enterprises, LLC; (iii) SVFoods Old Hammond, LLC; (iv)
SVFoods Jefferson, LLC; (v) T&S Markets, LLC; (vi) TSD Markets,
LLC; (vii) Baker Piggly Wiggly, LLC; and (viii) BR Pig, LLC.  

As of the petition date, J-H-J is estimated with both assets and
liabilities at $10 million to $50 million. The petition was signed
by Garnett C. Jones, Jr., president.  Judge John W. Kolwe is
assigned the cases.  The Steffes Firm, LLC serves as counsel to the
Debtors.


J.D. BEAVERS: Seeks to Hire Fox Law as Legal Counsel
----------------------------------------------------
J.D. Beavers Co. LLC, seeks authority from the United States
Bankruptcy Court for the Eastern District of Michigan (Flint) to
hire The Fox Law Corporation, Inc. as its legal counsel.

J.D. Beavers requires Fox Law to:

     a. counsel as to the rights, powers, and duties of a chapter
11 debtor and debtor in possession;

     b. counsel, prepare, and file necessary and appropriate
applications, motions, draft orders, other pleadings, notices,
schedules, and other documents in the Bankruptcy case;

     c. counsel, prepare, and file responses to applications,
motions, draft orders, other pleadings, notices, schedules, and
other documents that are filed in the Bankruptcy Case;

     d. attend meetings and provide representation in negotiations
with creditors and other parties in interest;

     e. counsel, commence, and conduct possible litigation
necessary or appropriate to assert rights, protect assets of the
estate, or otherwise further the goals of restructuring;

     f. counsel and prosecute possible actions to collect and
recover property for the benefit of its estate;

     g. counsel and assist in reviewing, estimating, and resolving
any claims asserted against the estate;

     h. counsel and take possible action as to executory contracts
and unexpired lease assumptions, assignments, and rejections;

     i. counsel and take possible action on tax matters;

     j. counsel and take possible action in connection with
potential sales of assets;

     k. counsel and assist in efforts to prepare, solicit, confirm,
and consummate a chapter 11 plan; and

     l. perform all other necessary legal services in connection
with the Bankruptcy Case.

Fox Law's standard hourly rates are:

     Steven R. Fox         $475
     Janis G. Abrams       $400
     W. Sloan Youkstetter  $250
     Vanessa Tagre         $150

Steven R. Fox, Esq. of Fox Law attests that the firm is
disinterested under 11 U.S.C. Sec. 101(14).

The firm can be reached through:

     Steven R. Fox, Esq.
     THE FOX LAW CORPORATION
     17835 Ventura Blvd., Ste. 306
     Encino, CA 91316
     Phone: (818) 774-3545
     Email: srfox@foxlaw.com

                   About Debtor J.D. Beavers

J.D. Beavers Co. LLC is a recycling company in Brighton, Michigan
that converts scrap metal into reusable raw materials for the metal
making industry.  The company buys aluminum, carbide, coated wire,
copper, brass & red metals, gold & silver, lead acid battery, niton
XL3t, steel, stainless steel, and tool steel.  The Company filed a
Chapter 11 petition (Bankr. E.D. Mich. Case No. 19-32748) on Nov.
20, 2019 in Flint, Michigan.  

In the petition signed by John D. Beavers, president, the Debtor
was listed with total assets at $950,945 and total liabilities at
$2,495,614.  

Schafer and Weiner, PLLC, and The Fox Law Corporation, Inc., serve
as counsel to the Debtor.  Judge Joel D. Applebaum administers the
case.


J.D. BEAVERS: Seeks to Hire Schafer and Weiner as Local Counsel
---------------------------------------------------------------
J.D. Beavers Co. LLC, seeks authority from the United States
Bankruptcy Court for the Eastern District of Michigan (Flint) to
hire Schafer and Weiner, PLLC as its local counsel.

J.D. Beavers requires Schafer to:

     a. counsel as to the rights, powers, and duties of a chapter
11 debtor and debtor in possession;

     b. counsel, prepare, and file necessary and appropriate
applications, motions, draft orders, other pleadings, notices,
schedules, and other documents in the Bankruptcy case;

     c. counsel, prepare, and file responses to applications,
motions, draft orders, other pleadings, notices, schedules, and
other documents that are filed in the Bankruptcy Case;

     d. attend meetings and provide representation in negotiations
with creditors and other parties in interest;

     e. counsel, commence, and conduct possible litigation
necessary or appropriate to assert rights, protect assets of the
estate, or otherwise further the goals of restructuring;

     f. counsel and prosecute possible actions to collect and
recover property for the benefit of its estate;

     g. counsel and assist in reviewing, estimating, and resolving
any claims asserted against the estate;

     h. counsel and take possible action as to executory contracts
and unexpired lease assumptions, assignments, and rejections;

     i. counsel and take possible action on tax matters;

     j. counsel and take possible action in connection with
potential sales of assets;

     k. counsel and assist in efforts to prepare, solicit, confirm,
and consummate a chapter 11 plan; and

     l. perform all other necessary legal services in connection
with the Bankruptcy Case.

Schafer's standard hourly rates are:

     Daniel J. Weiner          $485
     Michael E. Baum           $485
     Howard M. Borin           $395
     Joseph K. Grekin          $380
     John J. Stockdale, Jr.    $345
     Kim K. Hillary            $330
     Jeffery J. Sattler        $315
     Jason L. Weiner           $310
     Leon N. Mayer             $305
     Nicholas R. Marcus        $275
     Legal Assistant           $150

Jeffery J. Sattler, Esq. of Schafer attests that the firm is
disinterested under 11 U.S.C. Sec. 101(14).

The firm can be reached through:

     Jeffery J. Sattler, Esq.
     SCHAFER AND WEINER, PLLC
     40950 Woodward Ave., Ste. 100
     Bloomfield Hills, MI 48304
     Phone: (248) 540-3340
     Email: jsattler@schaferandweiner.com

                   About Debtor J.D. Beavers

J.D. Beavers Co. LLC is a recycling company in Brighton, Michigan
that converts scrap metal into reusable raw materials for the metal
making industry.  The company buys aluminum, carbide, coated wire,
copper, brass and red metals, gold and silver, lead acid battery,
niton XL3t, steel, stainless steel, and tool steel.  The Company
filed a
Chapter 11 petition (Bankr. E.D. Mich. Case No. 19-32748) on Nov.
20, 2019 in Flint, Michigan.  

In the petition signed by John D. Beavers, president, the Debtor
was listed with total assets at $950,945 and total liabilities at
$2,495,614.  

Schafer and Weiner, PLLC, and The Fox Law Corporation, Inc., serve
as counsel to the Debtor.  Judge Joel D. Applebaum administers the
case.


KJM CAPITAL: Seeks to Hire CliftonLarsonAllen as Tax Consultant
---------------------------------------------------------------
KJM Capital Transportation Fund, LLC, seeks approval from the
United States Bankruptcy Court for the Middle District of Florida
(Orlando) to hire CliftonLarsonAllen, LLP as its tax accountant.

The professional services the accountant is to render include,
without limitation, preparation of 2018 federal tax returns and
2018 state income tax returns.

The accountant will charge a flat rate of $16,500 for the
preparation of the federal consolidated income tax return for 2018
and a flat rate of $750 for each state income tax returns for
2018.

CliftonLarsonAllen's hourly rates are:

     Principal         $405-$425
     Director          $330-$350
     Manager           $295-$315
     Senior Associate  $210-$240
     Associate         $150-$180

Caleb Solley, CPA, principal of CliftonLarsonAllen, disclosed in
court filings that the firm is a "disinterested person" within the
meaning of Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Caleb Solley, CPA
     CliftonLarsonAllen LLP
     801 Cherry Street, Suite 1400
     Fort Worth, TX 76102
     Phone: 817-877-5000
     Email: caleb.solley@CLAconnect.com

           About KJM Capital

KJM Capital Transportation Fund, LLC, along with six debtor
affiliates which also operate in the general freight trucking
business, sought Chapter 11 protection (Bankr. M.D. Fla. Lead Case
No. 19-06302) in Orlando, Florida, on Sept. 27, 2019.  In the
petition signed by Kenneth J. Meister, manager, KJM was estimated
to have assets at $10 million to $50 million and liabilities within
the same range.  The case is assigned to Judge Cynthia C. Jackson.
Shuker & Dorris, P.A. is the Debtor's legal counsel.


KORN FERRY: S&P Assigns 'BB' Issuer Credit Rating; Outlook Stable
-----------------------------------------------------------------
S&P Global Ratings assigned its 'BB' issuer credit rating to Korn
Ferry. At the same time, S&P assigned its 'BB' issue-level rating
and '4' recovery rating to the company's proposed senior unsecured
notes. The '4' recovery rating indicates S&P's expectation for
average (30%-50%; rounded estimate: 30%) recovery in the event of a
payment default.

Korn Ferry is issuing $400 million of senior unsecured notes due
2027 and refinancing its $650 million revolving credit facility due
2024 (unrated). The company will use the proceeds from this
transaction to repay $277 million of outstanding revolver
borrowings and add $123 million of cash to its balance sheet.

S&P's rating on Korn Ferry reflects the company's strong market
position in the highly fragmented and competitive executive search
industry, its unique business model that enables it to generate
higher EBITDA margins (over 18%) than those at some of the
temporary staffing and consulting companies S&P rates, as well as
its good geographic and industry diversity, strong cash flow
generation, and low leverage. These factors are offset by the
vulnerability of its operating performance to economic cyclicality
and the inherent execution risks associated with its acquisitive
growth strategy, which S&P expects it to maintain over the next two
years.

The stable outlook on Korn Ferry reflects S&P's expectation that
the company will maintain low adjusted leverage of less than 1.5x
and EBITDA margins in the mid-double digit percent area while
pursuing its growth strategy.

"We could lower our rating on Korn Ferry if competition intensifies
that causes market share losses or if it adopts a more aggressive
financial policy that results in sustained leverage of more than
2x. This could occur due to sizeable debt-financed acquisitions and
shareholder returns, prolonged revenue declines amid a cyclical
downturn, or reduced EBITDA margins due to pricing pressures," S&P
said.

"An upgrade is unlikely over the next 12 months. Over the longer
term, we could raise our rating on Korn Ferry if it executes on its
growth strategy such that it improves its scale and business
diversity, leading to reduced cyclicality and improved revenue
visibility while maintaining high margins and solid credit
metrics," the rating agency said.


LACKNER RODRIGUEZ: Seeks to Hire Enrique J Solana as Counsel
------------------------------------------------------------
Lackner Rodriguez Enterprises, LLC, seeks authority from the U.S.
Bankruptcy Court for the Southern District of Texas to employ the
Law Office of Enrique J Solana, PLLC, as counsel to the Debtor.

Lackner Rodriguez requires Enrique J Solana to:

   (a) provide legal advice with respect to the Debtor's rights
       and duties as debtor-in-possession and continued business
       operations;

   (b) assist, advise and represent the Debtor in analyzing the
       Debtor's capital structure, investigating the extent and
       validity of liens, cash collateral stipulations or
       contested matters;

   (c) assist, advise and represent the Debtor in post-petition
       financing transactions;

   (d) assist, advise and represent the Debtor in the sale of
       certain assets;

   (e) assist, advise and represent the Debtor in the formulation
       of a disclosure statement and plan of reorganization and
       to assist the Debtor in obtaining confirmation and
       consummation of a plan of reorganization;

   (f) assist, advise and represent the Debtor in any manner
       relevant to preserving and protecting the Debtor's estate;

   (g) investigate and prosecute preference, fraudulent transfer
       and other actions arising under the Debtor's bankruptcy
       avoiding powers;

   (h) prepare on behalf the Debtor all necessary applications,
       motions, answers, orders, reports, and other legal papers;

   (i) appear in Court and to protect the interests of the Debtor
       before the Court;

   (j) assist the Debtor in administrative matters;

   (k) perform all other legal services for the Debtor which may
       be necessary and proper in these proceedings;

   (l) assist, advise and represent the Debtor in any litigation
       matters, including, but not limited to, adversary
       proceedings;

   (m) continue to assist and advise the Debtor in general
       corporate and other matters related to the successful
       reorganization of the Debtor;

   (n) provide other legal advice and services, as requested by
       the Debtor, from time to time.

Lackner Rodriguez will be paid $300 per hour.

The Firm received a retainer of $20,000 to represent the Debtor in
the bankruptcy case and said funds have been deposited in to my
trust account. $1,717 of said funds was used to pay the filing fees
in the bankruptcy case.

Enrique J Solana will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Enrique J. Solana, partner of the Law Office of Enrique J Solana,
PLLC, 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.

Enrique J Solana can be reached at:

     Enrique J. Solana, Esq.
     Law Office of Enrique J Solana, PLLC
     914 E. Van Buren St.
     Brownsville, TX 78520
     Tel: (956)544-2345
     Fax: (956)550-0641
     E-mail: enrique@solanapllc.com

                About Lackner Rodriguez Enterprises

Lackner Rodriguez Enterprises, LLC, based in Brownsville, TX, filed
a Chapter 11 petition (Bankr. S.D. Tex. Case No. 19-10430) on Nov.
6, 2019.  In the petition signed by Ulises O. Lackner, managing
member, the Debtor disclosed $5,244,022 in assets and $5,898,567 in
liabilities.  The Hon. Eduardo V. Rodriguez is the presiding judge.
Enrique J. Solana, Esq., at the Law Office of Enrique J Solana,
PLLC, serves as bankruptcy counsel to the Debtor.  JS Whitworth Law
Firm, is the co-counsel.




LACKNER RODRIGUEZ: Seeks to Hire JS Whitworth as Co-Counsel
-----------------------------------------------------------
Lackner Rodriguez Enterprises, LLC, seeks authority from the U.S.
Bankruptcy Court for the Southern District of Texas to employ JS
Whitworth Law Firm, as co-counsel to the Debtor.

Lackner Rodriguez requires JS Whitworth to:

   (a) provide legal advice with respect to the Debtor's rights
       and duties as debtor-in-possession and continued business
       operations;

   (b) assist, advise and represent the Debtor in analyzing the
       Debtor's capital structure, investigating the extent and
       validity of liens, cash collateral stipulations or
       contested matters;

   (c) assist, advise and represent the Debtor in post-petition
       financing transactions;

   (d) assist, advise and represent the Debtor in the sale of
       certain assets;

   (e) assist, advise and represent the Debtor in the formulation
       of a disclosure statement and plan of reorganization and
       to assist the Debtor in obtaining confirmation and
       consummation of a plan of reorganization;

   (f) assist, advise and represent the Debtor in any manner
       relevant to preserving and protecting the Debtor's estate;

   (g) investigate and prosecute preference, fraudulent transfer
       and other actions arising under the Debtor's bankruptcy
       avoiding powers;

   (h) prepare on behalf the Debtor all necessary applications,
       motions, answers, orders, reports, and other legal papers;

   (i) appear in Court and to protect the interests of the Debtor
       before the Court;

   (j) assist the Debtor in administrative matters;

   (k) perform all other legal services for the Debtor which may
       be necessary and proper in these proceedings;

   (l) assist, advise and represent the Debtor in any litigation
       matters, including, but not limited to, adversary
       proceedings;

   (m) continue to assist and advise the Debtor in general
       corporate and other matters related to the successful
       reorganization of the Debtor;

   (n) provide other legal advice and services, as requested by
       the Debtor, from time to time.

JS Whitworth will be paid at these hourly rates:

     Attorneys                  $300
     Legal Assistant            $125

JS Whitworth will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Jana S. Whitworth, principal and sole member of JS Whitworth Law
Firm, PLLC, 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.

JS Whitworth can be reached at:

     Jana Smith Whitworth, Esq.
     JS WHITWORTH LAW FIRM, PLLC
     P.O. Box 2831
     McAllen, Texas 78502
     Tel: (956) 371-1933
     Fax: (956) 265-1753
     E-mail: jana@jswhitworthlaw.com

              About Lackner Rodriguez Enterprises

Lackner Rodriguez Enterprises, LLC, based in Brownsville, TX, filed
a Chapter 11 petition (Bankr. S.D. Tex. Case No. 19-10430) on Nov.
6, 2019. The Debtor disclosed $5,244,022 in assets and $5,898,567
in liabilities as of the bankruptcy filing.  The Hon. Eduardo V.
Rodriguez is the presiding judge.  Enrique J. Solana, Esq., at the
Law Office of Enrique J Solana, PLLC, serves as bankruptcy counsel.
JS Whitworth Law Firm, is co-counsel.




LASV INC: Acting U.S. Trustee Objects to Disclosure Statement
-------------------------------------------------------------
The Acting United States Trustee objects to the Disclosure
Statements describing the Chapter 11 Plans of Liquidation Proposed
by the Debtors Saddy Family, LLC; LASV, LLC and SJV, LLC.

The U.S. Trustee argues:

   * The Disclosure Statement Liquidation Analysis for Saddy
Family, LLC appears to be incorrect. The Total Liabilities in the
analysis is listed at $3,527,207.83, resulting in $0.00 available
for unsecured claims. However, if each individual secured and
priority liability listed is added together, the amount totals to
$1,989,832.16, resulting in $1,313,377.84 being available for
unsecured claims.

  * The Disclosure Statement Liquidation Analysis for LASV, Inc.
appears to be incorrect. The Total Liabilities in the analysis is
listed at $2,871,186.04, resulting in $0.00 available for unsecured
claims. However, if each individual secured and priority liability
listed is added together, the amount totals to $1,240,711.66. This
amount includes $750,000.00 to Shore Community Bank which, pursuant
to the Disclosure Statement for Saddy Family LLC, is being paid in
total from the assets of Saddy Family, LLC. If this amount is
taking out of the calculation of LASV, Inc.'s secured claims, there
would be $461,015.34 available for unsecured claims.

  * The Disclosure Statement Liquidation Analysis for SJV, Inc.
appears to be incorrect. The Total Liabilities in the analysis is
listed at $2,781,827.60, resulting in $0.00 available for unsecured
claims. However, if each individual secured and priority liability
listed is added together, the amount totals to $865,007.62. This
amount includes $625,000.00 to Shore Community Bank which, as
stated, is being paid in total from the assets of Saddy Family,
LLC. If this amount is taking out of the calculation of SJV, Inc.'s
secured claims, there would be $502,694.38 available for unsecured
claims.

  * It appears there are sufficient assets to pay all secured
creditors in full and no need for the cram downs proposed in the
plans if the assets and liabilities are calculated properly. The
Debtors should explain, in detail, the basis for which each Debtor
is assigned responsibility for each debt, and why it appears that
all of Debtors will be paying the same debt, making it appear that
the there are no funds available for unsecured creditors. The U.S.
Trustee submits that if the Debtors' cases were jointly
administered and one plan filed the confusion and complications
would be minimized.

A full-text copy of the objection is available at
https://tinyurl.com/yx26u5xa from PacerMonitor.com at no charge.

                         About LASV Inc.

LASV Inc., a privately held company in Seaside Heights, New Jersey,
sought protection under Chapter 11 of the Bankruptcy Code (Bankr.
D.N.J. Case No. 19-14218) on Feb. 28, 2019. At the time of the
filing, the Debtor was estimated to have assets of less than
$50,000 and liabilities of $1 million to $10 million. The case is
assigned to Judge Kathryn C. Ferguson. The Law Office of Eugene D.
Roth is the Debtor's counsel.


LI GROUP: S&P Assigned 'B' Issuer Credit Rating on Leverage Buyout
------------------------------------------------------------------
S&P Global Ratings assigned its 'B' issuer credit rating to LI
Group Holdings Inc., a higher education application service and
admissions solutions provider operating as Liaison.

At the same time, S&P assigned its 'B' issue-level and '3' recovery
ratings to the company's $225 million first-lien term loan B and
$15 million first-lien revolving credit facility.

Liaison has been acquired by an affiliate of Meritage Group LP. The
company will fund this transaction with a $225 million first-lien
term loan and cash equity from Meritage and company management.

The rating on Liaison reflects high pro forma S&P adjusted leverage
in the high-7x area, which it expects to decrease to under 7x
through organic revenue and earnings growth in fiscal 2021. The
rating also reflects S&P's assessment of the company's limited
geographic diversification, small operational scale relative to
similarly rated peers, a niche end market focus, and narrow product
offerings. Key strengths include a growing and countercyclical
education software market--particularly in admissions management, a
leading market position in graduate applications, strong
profitability for a firm with limited scale, and sticky customer
relationships with high recurring revenue.

The stable outlook on Liaison reflects S&P's expectation that the
company will continue to grow revenues at least high-single digit
level, while maintaining its current profitability levels, such
that the rating agency expects leverage to reduce to under 7x
within 12 months of transaction close.

"We would consider a downgrade if we believe that Liaison's
adjusted leverage is likely to remain over 7x beyond 12 months of
transaction close. This could result from competitive pressures
leading to market share loss, weaker-than-expected revenue growth,
or a deterioration in profitability," S&P said, adding that this
could also occur if leveraged acquisitions or shareholder returns
result in leverage above 7x. S&P would also consider a downgrade if
Liaison is unable to generate positive free operating cash flow or
maintain liquidity at least at the adequate level on a sustainable
basis.

"Although unlikely over the next 12 months due to high pro forma
starting leverage, we would consider an upgrade if LI Group
Holdings maintains high-single-digit growth and its current EBITDA
margins, grows free operating cash flow generation, and sustains
adjusted leverage under 5.0x," the rating agency said.


LIFEPOINT HEALTH: S&P Alters Outlook to Positive, Affirms 'B' ICR
-----------------------------------------------------------------
S&P Global Ratings affirmed its 'B' rating on acute-care hospital
services provider Lifepoint Health Inc. and revised the outlook on
the company to positive from stable.

S&P expects on-track synergies from integration, lower capital
spending, and strong operating performance will result in
significant free cash flow generation in 2020. Lifepoint has
realized significant synergies from the successful integration with
RegionalCare, outperforming S&P's prior post-merger profitability
and cash flow expectations. S&P expects revenue to grow at a
low-single-digit rate in 2020, driven primarily by the increase in
volume from incremental contribution from new facilities and
creation of transfer centers, which will help Lifepoint retain
patients. It also expects price increases from both private and
public payors (primarily Medicare) coupled with small admissions
increases to support better organic growth. As a result, the rating
agency expects revenue to grow at a low single-digit rate.

The positive outlook reflects S&P's view that the company will
continue to grow at a low-single digit pace, largely due to volume
and rate increases. It also reflects the rating agency's view that
synergies from the successful integration with RegionalCare and
cost saving initiatives will result in EBITDA margin expansion and
steady reported cash flow generation over $100 million in 2019 and
over $250 million in 2020.

"We could revise the outlook to stable if cash flow expectations
fall to about $120 million in 2020, likely due to EBITDA margins
falling about 200 bps short of our base-case. This would likely
result from volume pressures, most likely due to the unsuccessful
implementation of the company's transfer center strategy," S&P
said.

"We could raise our rating on Lifepoint, if it is able to increase
volumes by limiting outmigration and improve EBITDA margins in
2020, resulting in free cash flow of about $250 million in 2020. An
upgrade would also be predicated on our belief that the company
intends to continue to deleverage to the high-5x area, in line with
our forecast," the rating agency said.


LIGHT OF LIFE: Hires Kimberly Y. Brooks as Counsel
--------------------------------------------------
Light of Life Church, seeks authority from the U.S. Bankruptcy
Court for the District of South Carolina to employ Kimberly Y.
Brooks, Esq., as counsel to the Debtor.

Light of Life requires Kimberly Y. Brooks to:

   a. provide the Debtor with legal advice with respect to its
      powers and duties as a Debtor-in-Possession in the
      continued operation of its business and management of its
      property; and

   b. prepare, on behalf of the Debtor, necessary applications,
      answers, orders, reports, pleadings, and a Disclosure
      Statement and Plan.

Kimberly Y. Brooks will be paid at these hourly rates:

     Attorneys                 $295
     Paralegals                $150

Kimberly Y. Brooks will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Kimberly Y. Brooks, 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.

Kimberly Y. Brooks can be reached at:

     Kimberly Y. Brooks
     P.O. Box 16025
     Greenville, SC 29606
     Tel: (864) 331-3160
     E-mail: ktybrooks@gmail.com
             kbrooks@yanceybrooks.com

                   About Light of Life Church

Light of Life Church, successor in interest to Light of Life
Community Church, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D.S.C. Case No. 19-05305) on Oct. 8, 2019.
At the time of the filing, the Debtor was estimated to have assets
of between $100,001 and $500,000 and liabilities of the same range.
The case is assigned to Judge Helen E. Burris. The Debtor tapped
Kimberly Y. Brooks, Esq., as its bankruptcy attorney.



LITTLE GUYS: Seeks to Hire Joel A. Schechter as Counsel
-------------------------------------------------------
The Little Guys, Inc., seeks authority from the U.S. Bankruptcy
Court for the Northern District of Illinois to employ the Law
Offices of Joel A. Schechter, as counsel to the Debtor.

Little Guys requires Joel A. Schechter to:

   (a) give the Debtor and Debtor-in-Possession legal advice with
       respect to its powers and duties as Debtor-in-Possession
       in the continued operation of its business;

   (b) prepare on behalf of the Debtor and Debtor-in-Possession
       necessary motions, answers, orders, reports and other
       legal papers necessary and appurtenant to these
       proceedings; and

   (c) perform all other legal services for the Debtor and
       Debtor-in-Possession which may be necessary in this
       proceeding.

Joel A. Schechter charges $325 to $500 per hour for his services.

Joel A. Schechter attests that he represents no interest adverse to
the Debtor or the estate in the matters upon which he is to be
engaged, and he has no connection with the Debtor, its creditors,
attorneys or accountants, or any other parties in interest or their
respective attorneys or accountants.

The Counsel can be reached through:

     Joel A. Schechter, Esq.
     Law Offices of Joel A. Schechter
     53 W. Jackson Blvd., Suite 1522
     Chicago, IL 60604
     Tel: (312)332-0267
     E-mail: joelschechter@covad.net

                      About The Little Guys

The Little Guys Inc. is a home automation company in Mokena,
Illinois.  The company offers sales service and installation of the
latest technology in home theater, stereo and surround sound, whole
house audio and video, automation and control, and energy
management.

The Little Guys, Inc., sought Chapter 11 protection (Bankr. N.D.
Ill. Case No. 19-27753) on Sept. 30, 2019.  In the petition signed
by David Wexler, secretary, the Debtor was estimated to have up to
$50,000 in assets and liabilities of $1 million to $10 million.
The Hon. Jack B. Schmetterer is the case judge.  The LAW OFFICES OF
JOEL A. SCHECHTER is the Debtor's counsel.



LIZZA EQUIPMENT: Hires Barclay Damon as Special Counsel
-------------------------------------------------------
Lizza Equipment Leasing, LLC, and its debtor-affiliates seek
authority from the U.S. Bankruptcy Court for the District of New
Jersey to employ Barclay Damon LLP, as special counsel to the
Debtors.

Lizza Equipment requires Barclay Damon to represent the Debtor in
regard to NYSDEC Notice of Violation for the Whitehall Quarry.

Barclay Damon 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.

Patricia S. Naughton, partner of Barclay Damon 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 Debtors and their estates.

Barclay Damon can be reached at:

     Patricia S. Naughton, Esq.
     BARCLAY DAMON LLP
     125 East Jefferson St.
     Syracuse, NY 13202
     Tel: (315) 425-2700

                About Lizza Equipment Leasing

Based in Hackettstown, N.J., Lizza Equipment Leasing, LLC and its
affiliates, Azzil Granite Materials LLC and Magnolia Associates
LLC, sought Chapter 11 protection (Bankr. D.N.J. Lead Case No.
19-21763) on June 12, 2019. In the petitions signed by Carl J.
Lizza, co-managing member, Lizza Equipment Leasing disclosed $90 in
assets and liabilities of $987,830; Azzil Granite Materials
disclosed total assets of $813,825 and total liabilities of
$23,859,263; and Magnolia Associates disclosed total assets of
$15,317,480, and total liabilities of $13,137,533.

Judge Michael B. Kaplan oversees the cases.

Daniel M. Stolz, Esq., at Wasserman Jurista & Stolz, P.C., is the
Debtors' bankruptcy counsel.

Azzil Granite Materials is a supplier of high friction granite
aggregates for the New York City and Long Island market. Magnolia
Associates owns a 134-acre property with quarry located in White
Hall, N.Y., which is valued by the company at $15 million.



LIZZA EQUIPMENT: Hires JMT of New York as Environmental Engineer
----------------------------------------------------------------
Lizza Equipment Leasing, LLC, and its debtor-affiliates seek
authority from the U.S. Bankruptcy Court for the District of New
Jersey to employ JMT of New York, as environmental engineer to the
Debtors.

Lizza Equipment requires JMT of New York as Environmental Engineer
to help the Debtor in compliance with regard to NYSDEC Notice of
Violation for the Whitehall Quarry.

JMT of New York 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.

Paul M. Adel, partner of JMT of New York, 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.

JMT of New York can be reached at:

     Paul M. Adel
     JMT OF NEW YORK
     19 British American Blvd.
     Latham, NY 12110
     Tel: (518) 782-0882

                 About Lizza Equipment Leasing

Based in Hackettstown, N.J., Lizza Equipment Leasing, LLC and its
affiliates, Azzil Granite Materials LLC and Magnolia Associates
LLC, sought Chapter 11 protection (Bankr. D.N.J. Lead Case No.
19-21763) on June 12, 2019. In the petitions signed by Carl J.
Lizza, co-managing member, Lizza Equipment Leasing disclosed $90 in
assets and liabilities of $987,830; Azzil Granite Materials
disclosed total assets of $813,825 and total liabilities of
$23,859,263; and Magnolia Associates disclosed total assets of
$15,317,480, and total liabilities of $13,137,533.

Judge Michael B. Kaplan oversees the cases.

Daniel M. Stolz, Esq., at Wasserman Jurista & Stolz, P.C., is the
Debtors' bankruptcy counsel.

Azzil Granite Materials is a supplier of high friction granite
aggregates for the New York City and Long Island market. Magnolia
Associates owns a 134-acre property with quarry located in White
Hall, N.Y., which is valued by the company at $15 million.



MACDOEL INVESTMENT: Chapter 15 Case Summary
-------------------------------------------
Chapter 15 Debtor: MacDoel Investment Ltd.

Chapter 15 Petition Date: December 11, 2019

Court: U.S. Bankruptcy Court
       Southern District of Florida

Chapter 15 Case No.: 19-26547

Foreign Representatives: Kevin Hellard and Matthew Richardson

Estimated Assets: Unknown

Estimated Debts: Unknown


MARSHALL, MI: S&P Rates Electric Utility System Rev. Bonds 'BB'
---------------------------------------------------------------
S&P Global Ratings assigned its 'BB' long-term rating to the City
of Marshall, Mich.'s electric utility system revenue bonds series
2019. The outlook is stable.

The series 2019 bond proceeds will be used to acquire and construct
improvements and extensions of the electric utility system.

The rating reflects S&P's opinion of the utility's adequate
enterprise risk profile and vulnerable financial risk profile.

"The enterprise risk profile reflects our view of the utility's
adequate operational management assessment, highly vulnerable
service area economic fundamentals, adequate market position, and
extremely strong industry risk relative to other industries and
sectors," said S&P Global Ratings credit analyst Timothy Meernik.
"The financial risk profile reflects our view of the utility's
highly vulnerable coverage, vulnerable liquidity and reserves, and
vulnerable debt and liabilities profile," Mr. Meernik added.

The stable outlook reflects S&P's view of the utility's electricity
supply from the Michigan South Central Power Agency. Its rating
takes a conservative view of Marshall's growth potential related to
serving marijuana grow operations, which the rating agency views as
speculative, and thus it reflects very weak historical financial
metrics.


MCL NURSING: U.S. Trustee Unable to Appoint Committee
-----------------------------------------------------
The Office of the U.S. Trustee on Dec. 10, 2019, disclosed in a
court filing that no official committee of unsecured creditors has
been appointed in the Chapter 11 case of MCL Nursing, LLC.
  
                    About MCL Nursing LLC

MCL Nursing, LLC owns and operates a skilled nursing facility in
McLoud, Okla.

MCL Nursing filed a voluntary petition under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Ga. Case No. 19-67513) on Nov. 1,
2019.  In the petition signed by Christopher F. Brogdon, manager,
the Debtor estimated $50,000 in assets and $1 million to $10
million in liabilities.

The Debtor tapped Theodore N. Stapleton, P.C. as its legal counsel,
and Hansen Hunter & Co., P.C. as its financial advisor.


MONKEY TOES: Seeks to Hire Boyle & Valenti as Counsel
-----------------------------------------------------
Monkey Toes, LLC, seeks authority from the U.S. Bankruptcy Court
for the District of New Jersey to employ Boyle & Valenti Law, P.C.,
as counsel to the Debtor.

Abundant Training requires Boyle & Valenti to:

   a. assist and advise on all aspects of conducting as a debtor
      in possession in the Chapter 11 bankruptcy proceedings; and

   b. file petition, necessary motions, communicate with
      creditors, prepare and confirm a Chapter 11 plan.

Boyle & Valenti will be paid at these hourly rates:

          Attorneys        $275
          Paralegals        $75

Boyle & Valenti will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Carrie J. Boyle, a partner at Boyle & Valenti Law, 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 Debtors and their/its
estates.

Boyle & Valenti can be reached at:

     Carrie J. Boyle, Esq.
     BOYLE & VALENTI LAW P.C.
     10 Grove Street
     Haddonfield, NJ 08033
     Tel: (856) 499-3335
     Fax: (856) 499-3304
     E-mail: cboyle@b-vlaw.com

                       About Monkey Toes

Monkey Toes, LLC Sanctuary Gentlemen's Club owns and operates an
adult entertainment club in Vineland, New Jersey.

Monkey Toes, LLC d/b/a Sanctuary Gentlemen's Club, based in
Vineland, NJ, filed a Chapter 11 petition (Bankr. D.N.J. Case No.
19-31018) on November 6, 2019. The Hon. Jerrold N. Poslusny Jr.
presides over the case. Carrie J. Boyle, Esq., at Boyle & Valenti
Law, P.C., serves as bankruptcy counsel.

In its petition, the Debtor estimated $14,879 in assets and
$1,022,443 in liabilities. The petition was signed by David
Glassman, managing member.



MOOG INC: S&P Rates New $400MM Sr. Unsecured Notes Due 2027 'BB'
----------------------------------------------------------------
S&P Global Ratings assigned its 'BB' issue-level rating and '5'
recovery rating to Moog Inc.'s proposed $400 million senior
unsecured notes due 2027. The '5' recovery rating indicates S&P's
expectation for modest (10%-30%; rounded estimate: 15%) recovery in
a default scenario. The company expects to use the proceeds from
these notes to redeem $300 million of outstanding unsecured notes
due 2022, repay about $90 million of revolver borrowings, and pay
transaction fees and expenses.

S&P's issuer credit rating on Moog reflects its moderate size and
good diversity as a supplier of components to the aerospace,
defense, industrial, and medical end markets. It also reflects
S&P's expectation that the company's credit metrics will remain
relatively unchanged and consistent with the current rating over
the next few years as it continues to use cash and debt to fund
acquisitions and share repurchases."

ISSUE RATINGS--RECOVERY ANALYSIS

Key analytical factors

-- Pro forma for the completion of the transaction, the company's
capital structure will comprise a $130 million accounts receivable
(A/R) securitization facility due 2021 (priority), a $1.1 billion
revolver due 2024, a $35 million Stock Employee Compensation Trust
(SECT) revolver due 2022, and $400 million of unsecured notes due
2027.

-- Moog will use the proceeds from the proposed notes to redeem
its $300 million unsecured notes due 2022, reduce its outstanding
revolver borrowings, and pay estimated fees and expenses of $10
million.

-- S&P no longer believes that the company's pension liability is
material, thus it does not affect the collateral available in its
recovery analysis.

-- Default assumptions include LIBOR rising to 250 basis points
and the revolver is 85% drawn at default.

Simulated default assumptions

-- Simulated year of default: 2024
-- EBITDA at emergence: $162 million
-- EBITDA multiple: 5.5x

Simplified waterfall

-- Net enterprise value (after 5% administrative expenses): $845
million
-- Obligor/nonobligor split: 57%/43%
-- Priority claims: $132 million
-- Collateral value available to first-lien debt: $585 million
-- Estimated first-lien claim: $956 million
-- Recovery expectations: 50%-70% (rounded estimate: 65%)
-- Collateral value available to unsecured claims: $127 million
-- Estimated unsecured claims: $780 million
-- Recovery expectations: 10%-30% (rounded estimate: 15%)

  Ratings List
  Moog Inc.

   Issuer Credit Rating       BB+/Stable/--
  
  New Rating
  Moog Inc.

   Senior Unsecured
   US$400 mil nts due 2027    BB
   Recovery Rating            5(15%)


MTE HOLDINGS: Pachulski Stang Represents M & M Lien Group
---------------------------------------------------------
Pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure,
the law firm of Pachulski Stang Ziehl & Jones LLP submitted a
verified statement that it is representing Baker Hughes Oilfield
Operations LLC, GE Oil & Gas Pressure Control, LP, Schlumberger
Technology Corporation, Smith International, Inc. and Nabors
Drilling Technologies USA, Inc. in the Chapter 11 cases of MTE
Holding LLC, et al.

Pursuant to Rule 2019(b) and (c), below is a listing of the names,
addresses, nature, amount and basis for all disclosable economic
interests held in relation to the Debtors by the M&M Lien Creditors
represented by PSZJ in the Chapter 11 Cases.

                                                Lien Amount
                                                -----------

(1) Baker Hughes
    Well Name: Count Fleet 11 3H & 4H           $41,060.87
               Omaha 11-5 5H                    $19,962.82
               Pickpocket 21 4H                 $115,938.57
               Salt Grass SWD 1 and/or          
               David Trimble 13 No. 1H          $354,929.81
               War Admiral 24 2H                $9,270.69
               Whirlaway 24 1H & 4H             $63,898.69
               Yucca 3                          $147,356.19
               Imperial Eagle 24 3H, 4H & 5H    $142,471.07
    Total Baker Hughes Secured Claim            $1,031,787.94
    Baker Hughes Unsecured Claim                0

(2) GE O&G Pressure Control
    Well Name: California Chrome
               27 Nos. 2H, 10H and 12H          $449,259.81
               Imperial Eagle 24
               2HM, 5H and 6H                   $219,226.76
               Repent 23 1HM                    $127,900.21
               Runaway Ghost 22-2 2H            $122,763.03
               War Admiral 24 3HM, 4H,
               5H and 6H                        $826,704.15
               Whirlaway                        $121,408.04
    Total GE O&G Pressure Control
    Secured Claim                               $1,867,262.00
    GE O&G Pressure Control
    Unsecured Claim                             $336,174.32

(3) Nabors
    Well Name: A Classic Dash 18 3H             $575,406.86
               Imperial Eagle 24 3HM, 4H        $2,303,464.54
               Omaha 11-5 5H and 11-6 6H        $938,403.85
               Whirlaway 24 1H, 2H, 3H          $1,756,787.19
    Total Nabors Secured Claim                  $5,574,062.44
    Nabors Unsecured Claim                      NA

(4) Schlumberger
    Well Name: Alysheba 18 Nos. 1H and 2H       $226,796.98
               California Chrome 27 No. 2H,
               9H, 10H and 12 H                 $257,460.63
               Coopers Dream 23-1 1H            $100,527.52
               Copperhead 23 5H & 6H            $162,790.71
               Count Fleet 11 Nos. 5H and 6H    $149,979.54
               Delightful Dasher 11-4 4H        $70,128.13
               Gavyns Run 23 1H                 $73,613.63
               Imperial Eagle 24
               Nos. 5H and 6H                   $36,831.11
               Omaha 11-5 5H and 11-6 6H        $25,141.93
               Rocket Wrangler 11
               Nos. 2H, 3H, and 4H              $544,466.39
               Salt Grass SWD 1                 $35,139.85
               War Admiral 24 1H                $80,450.00
    Total Schlumberger Secured Claim            $1,763,326.42
    Schlumberger Unsecured Claim                $732,710.78

(5) Smith
    Well Name: Alysheba 18 Nos. 1H and 2H       $85,517.50
               California Chrome 27
               Nos. 2H, 10H and 12H             $260,035.75
               Coopers Dream 23-1 1H            $67,836.25
               Copperhead 23 6H                 $45,892.50
               Count Fleet 11
               Nos. 1H, 3H, 4H, 5H and 6H       $474,947.94
               Delightful Dasher 11-4 4H        $31,392.50
               Gavyns Run 23 1H                 $45,892.50
               Imperial Eagle 24
               Nos. 2HM, 3H, 4H, 5H and 6H      $561,181.10
               Omaha 11-5 5H and 11-6 6H        $235,537.92
               Rocket Wrangler 11
               Nos. 2H, 3H, and 4H              $286,278.75
               Salt Grass SWD 1                 $5,776.23
               War Admiral 24 2HM,
               3HM, and 5H                      $153,606.25
               Whirlaway 24
               Nos. 1H, 2H and 3H               $321,226.76
    Total Smith Secured Claim                   $2,575,121.95
    Smith Unsecured Claim                       $111,383.75

Unless otherwise noted, the amounts listed above are exclusive of
pre-petition and post-petition interest and attorneys' fees. In
addition to the M&M Lien Creditors' claims listed above, subject to
further amendment and/or supplementation, the M&M Lien Creditors
have various rights under their respective contracts with the
Debtors and may hold contingent and/or unliquidated claims against
the Debtors arising from the contracts under which the M&M Lien
Creditors provided materials and/or services to Debtors, including
inter alia, wherein the Debtors agreed to defend, indemnify and/or
hold harmless the M&M Lien Creditors from and against certain
claims, demands, and causes of action.

Disclosure regarding multiple party representation. Each creditor
has received full disclosure of PSZJ's representation of multiple
creditors and has been informed of the possible implications of
multi-creditor representation. Each creditor has consented to
multi-creditor representation by PSZJ in the Chapter 11 Cases.

Reservation of Rights. PSZJ and the M&M Lien Creditors reserve the
right to amend and/or supplement this Statement, including as set
forth in Rule 2019(d).

Counsel for Baker Hughes Oilfield Operations LLC and GE Oil & Gas
Pressure Control, LP; Schlumberger Technology Corporation; Smith
International, Inc. and Nabors Drilling Technologies USA, Inc. can
be reached at:

          PACHULSKI STANG ZIEHL & JONES LLP
          Jeffrey N. Pomerantz, Esq.
          Robert J. Feinstein, Esq.
          Colin R. Robinson, Esq.
          919 N. Market Street, 17th Floor
          P.O. Box 8705
          Wilmington, DE 19899-8705 (Courier 19801)
          Telephone: (302) 652-4100
          Facsimile: (302) 652-4400
          Email: jpomerantz@pszjlaw.com
                 rfeinstein@pszjlaw.com
                 crobinson@pszjlaw.com

A copy of the Rule 2019 filing, downloaded from PacerMonitor.com,
is available at https://is.gd/puFD6s

                    About MTE Holdings

MTE Holdings LLC is a privately held company in the oil and gas
extraction business. MTE sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Del. Case No. 19-12269) on Oct. 22,
2019.  In the petition signed by its authorized representative,
Mark A. Siffin, the Debtor disclosed assets of less than $50
billion and debts of $500 million.  

Judge Karen B. Owens has been assigned to the case.

The Debtor tapped Kasowitz Benson Torres LLP as its bankruptcy
counsel; Morris, Nichols, Arsht & Tunnell, LLP as its local
counsel; and Stretto as its claims and noticing agent.



MURRAY ENERGY: S&P Rates $350MM DIP Term Loan 'B-'
--------------------------------------------------
S&P Global Ratings assigned its point-in-time 'B-' issue-level
rating to the $350 million debtor-in-possession (DIP) term loan
provided to Murray Energy Corp. Murray is a U.S.-based coal
producer currently operating under the protection of Chapter 11 of
the U.S. Bankruptcy Code following a partially pre-negotiated
filing on Oct. 29, 2019.

S&P's 'B-' issue rating on Murray's DIP term loan reflects its view
of the credit risk borne by the DIP lenders. This is based on S&P's
view of the company's ability to meet its financial requirements
during bankruptcy through the rating agency's debtor credit profile
(DCP) assessment, the prospects for full repayment through the
company's reorganization and emergence from Chapter 11 (via the
rating agency's capacity for repayment at emergence (CRE)
assessment), and potential for full repayment in a liquidation
scenario (via the rating agency's additional protection in a
liquidation scenario (APLS) assessment). S&P's assessment of each
of these factors is as follows:

-- S&P's DCP of 'ccc+' reflects its view that the company's
capital structure in bankruptcy will ultimately be unsustainable
unless it is able to substantially reduce its hefty underfunded
pension and post-retirement obligations as part of its bankruptcy
restructuring, which its view as critical to the company's
viability but expect will be a contentious process.

-- Even so, S&P believes the DIP term loan has "strong coverage"
in an emergence scenario for purposes of its CRE assessment (CRE >=
250%), reflecting its expectation that the DIP claims would be
senior to postretirement liabilities that could potentially be
rejected as part of the bankruptcy restructuring. S&P's "strong
coverage" CRE assessment provides an uplift of two notches over the
DCP, resulting in a preliminary issue rating of 'b'. S&P assesses
repayment prospects for purposes of the CRE assessment as if the
DIP facilities are required to be repaid in full in cash at
emergence.

-- S&P's APLS assessment does not clearly indicate that there
would be sufficient coverage of the DIP term loan in a liquidation
scenario, so this does not further affect its preliminary 'b' issue
rating.

-- Finally, it applies a negative DIP issue adjustment resulting
in a 'B-' final DIP issue rating. The issue adjustment reflects
uncertainty associated with the ultimate outcome regarding the
company's ability to substantially reduce its sizable pension and
postretirement obligations, which S&P views as an important
component of rightsizing its overburdened liability structure.

S&P applies a negative DIA to the preliminary DIP issue rating of
'b', to reach a final DIP issue rating of 'B-'. The adjustment
represents the risks not captured in S&P's CRE assessment including
the uncertainty of how successful the company will be in
dramatically reducing its enormous underfunded pension and
postretirement obligations. Employees may resist a substantial
reduction in these benefits during negotiations, and if the company
pivots to a unilateral rejection of these plans the company would
need to meet various procedural and substantive requirements and
could disrupt its operations by damaging employee relations by
using such an approach.


NEW ENGLAND: Jan. 14, 2020 Disclosure & Plan Confirmation Hearing
-----------------------------------------------------------------
New England Motor Freight, Inc. and its Affiliated Debtors and the
Official Committee of Unsecured Creditors filed a motion requesting
entry of an order approving the adequacy of the Joint Combined Plan
of Liquidation and Disclosure Statement.

Judge John K. Sherwood granted the motion and established the
following dates and deadlines:

  * Dec. 18, 2019, at 4:00 p.m. (ET) is the voting deadline for
Claims and Balloting Agent must receive ballots.

  * Dec. 18, 2019, at 4:00 p.m. (ET) is the deadline for any
creditor seeking to challenge the allowance of its Claim for voting
purposes in accordance with the above procedures must serve on the
Debtors and file with the Court a motion for an order pursuant to
Bankruptcy Rule 3018(a).

  * Jan. 14, 2020, at 11:00 a.m. (ET) is the Confirmation Hearing
at which final approval of the Disclosure Statement and
confirmation of the Plan will be considered.

  * Jan. 6, 2020, at 4:00 p.m. (ET) is the deadline for any
objections to confirmation of the Plan or any proposed
modifications of the Plan.

  * Jan. 10, 2020, is the deadline for Plan Proponents to file, in
their discretion, replies or an omnibus reply to any objections to
the Plan or any proposed modifications of the Plan.

A full-text copy of the order is available at
https://tinyurl.com/tcstfra from PacerMonitor.com at no charge.

                  About New England Motor Freight

New England Motor Freight, Inc. -- http://www.nemf.com/-- provides
less-than-truckload (LTL) carrier services in the United States and
Canada. Founded in 1977, the company is based in Elizabeth, N.J.,
and has terminals in the Northeast and Mid-Atlantic.

New England Motor Freight and its affiliates sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Lead Case
No. 19-12809) on Feb. 11, 2019.  At the time of the filing, New
England Motor estimated assets of $100 million to $500 million and
liabilities of $50 million to $100 million.

The cases are assigned to Judge John K. Sherwood.

The Debtors tapped Gibbons P.C. as legal counsel; Whiteford, Taylor
& Preston, LLP as special counsel; Phoenix Executive Services, LLC,
as restructuring advisor; and Donlin Recano as claims agent.

The Office of the U.S. trustee appointed an official committee of
unsecured creditors on Feb. 21, 2019.  The committee tapped
Lowenstein Sandler LLP and Elliott Greenleaf as its legal counsel.


NEW PHOENIX METALS: Bill Short Okayed as CRO
--------------------------------------------
New Phoenix Metals, Ltd., sought and obtained permission from the
U.S. Bankruptcy Court for the Northern District of Texas to employ
Bill Short, CPA as chief restructuring officer and manager for the
Debtor as of October 25, 2019.

Mr. Short will continue to render, without limitation, management,
financial advisory, and accounting services as CRO in the
Bankruptcy Case, which include:

     -- Overall management of the Debtor including hiring and
firing, defining employees' duties and responsibilities, and
establishing compensation rates;  

     -- Prepare amendments to schedules and the statement of
financial affairs and preparation of monthly operating reports to
support the Chapter 11 case administration;

     -- Review and assess cash flow and prepare weekly cash
forecasts and budgets, and monitor actual cash flow versus budgets;


     -- Provide weekly reports of actual cash transactions to
budgeted amounts to the senior lender, and review financial results
with other stakeholders;    

     -- Assist in preparing and assembling information for exhibits
to motions for relief that may be filed with the court and support
the Debtor's bankruptcy counsel in same;

     -- Provide testimony in bankruptcy court hearings as required;
• Administer post-petition banking facilities;

     -- Assist in a proposed sale of substantially all assets and
the debtor, and coordinate the sale or disposition of other assets,
as may be required;

     -- Communicate with lenders, creditors and stakeholders during
the bankruptcy proceeding;

     -- Direct operations with assistance of the operations
manager, including oversight and approval of disbursements, and
approval of all contracts and administrative services;

     -- Prepare periodic progress reports and review financial
results with stakeholders and lenders;

     -- Engage personnel and professionals as may be required for
orderly administration of bankruptcy case and the Company; and  

     -- Render other duties as mutually agreed upon or otherwise
approved by the Court.

For purposes of performing the Services, the CRO has been given
full and complete access to the Debtor's premises, books, records,
and computer systems, and the CRO will take steps where he deems
necessary to document and establish procedures and routines in
order to assure uninterrupted and accurate reporting to
stakeholders.

The compensation to be paid to Mr. Short shall be $125 per hour.
Since this motion anticipates the continued employment of Mr. Short
as CRO, no retainer will be payable upon approval of this
Application by the Bankruptcy Court.

To the best of the Debtor's knowledge, Mr. Short does not have any
connection with, or any interest adverse to, the Debtor, the
Debtor's estate, the Debtor's significant creditors, or other
party-in-interest as set forth in the Declaration.  The Debtor
further believes that Mr. Short is a "disinterested person," as
such term is defined in section 101(14) of the Bankruptcy Code and
as required under section 327(a) of the Bankruptcy Code.

                      About New Phoenix Metals

Established in 1998, New Phoenix Metals, Ltd., is a residential and
industrial recycling company.  The industrial division services
companies in a four-state region (Oklahoma, Texas, Arkansas, and
Louisiana) and its facility in Greenville, Texas, serves the public
and small scrap dealers of Northeast Texas and Southern Oklahoma.

New Phoenix Metals is a full-service industrial recycling company
located in Greenville, Texas (40 miles Northeast of Dallas).  New
Phoenix Metals also has a residential division for recycling
household scrap metals including aluminum, steel, copper and
brass.

New Phoenix Metals first sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Tex. Case No. 16-32075) on May 26,
2016.  In the petition signed by Marcus D. Carl, partner, the
Debtor listed assets and liabilities at $1 million to $10 million.
Affiliate Carl Equipment, Ltd. also sought bankruptcy protection on
the same date.  The 2016 cases were assigned to Judge Stacey G.
Jernigan.  A bankruptcy-exit plan was confirmed April 28, 2017.

New Phoenix Metals again sought Chapter 11 protection (Bankr. N.D.
Tex. Case No. 19-33543) on Oct. 25, 2019, listing $1 million to $10
million in assets and liabilities.  Judge Harlin Dewayne Hale
presides over the case.

Joyce W. Lindauer Attorney, PLLC serves as counsel for the 2016 and
2019 Debtors.


NEW PHOENIX METALS: Joyce W. Lindauer Approved as Bankr. Counsel
----------------------------------------------------------------
New Phoenix Metals Ltd., sought and obtained permission from the
U.S. Bankruptcy Court for the Northern District of Texas to hire
Joyce W. Lindauer Attorney, PLLC as counsel for this bankruptcy
case.

Joyce W. Lindauer is the owner of Joyce W. Lindauer Attorney, PLLC.
Jeffrey M. Veteto and Guy H. Holman are contract attorneys working
in the capacity as associate for Joyce W. Lindauer Attorney, PLLC.


The compensation to be paid to Ms. Lindauer shall be $395.00 per
hour.  The hourly rate for Mr. Veteto shall be $225.00 per hour.
The hourly rate for Mr. Holman shall be $210.00 per hour.
Paralegals and legal assistants are billed at $65.00 to $125.00 per
hour depending on their years of experience and level of skill.
This case will be handled by Dian Gwinnup who is billed at $125.00
per hour.

Joyce W. Lindauer Attorney, PLLC has been paid a retainer of
$5,000.00 which included the filing fee of $1,717.00, in connection
with this proceeding.

The firm attests that it does not hold or represent any interest
adverse to the interests of the Debtor or its estate, and is a
disinterested person within the meaning of 11 U.S.C section
101(14).

                      About New Phoenix Metals

Established in 1998, New Phoenix Metals, Ltd., is a residential and
industrial recycling company.  The industrial division services
companies in a four-state region (Oklahoma, Texas, Arkansas, and
Louisiana) and its facility in Greenville, Texas, serves the public
and small scrap dealers of Northeast Texas and Southern Oklahoma.

New Phoenix Metals is a full-service industrial recycling company
located in Greenville, Texas (40 miles Northeast of Dallas).  New
Phoenix Metals also has a residential division for recycling
household scrap metals including aluminum, steel, copper and
brass.

New Phoenix Metals first sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Tex. Case No. 16-32075) on May 26,
2016.  In the petition signed by Marcus D. Carl, partner, the
Debtor listed assets and liabilities at $1 million to $10 million.
Affiliate Carl Equipment, Ltd. also sought bankruptcy protection on
the same date.  The 2016 cases were assigned to Judge Stacey G.
Jernigan.  A bankruptcy-exit plan was confirmed April 28, 2017.

New Phoenix Metals again sought Chapter 11 protection (Bankr. N.D.
Tex. Case No. 19-33543) on Oct. 25, 2019, listing $1 million to $10
million in assets and liabilities.  Judge Harlin Dewayne Hale
presides over the case.

Joyce W. Lindauer Attorney, PLLC serves as counsel for the 2016 and
2019 Debtors.


NORTHWEST ACQUISITIONS: S&P Lowers ICR to 'CCC+'; Outlook Negative
------------------------------------------------------------------
S&P Global Ratings lowered its long-term issuer credit rating two
notches on Northwest Acquisitions ULC to 'CCC+' from 'B'. S&P
Global Ratings also lowered its issue-level ratings on Northwest's
first-lien senior secured credit facility to 'B' from 'BB-' and
second-lien senior secured notes to 'B-' from 'B+'. The recovery
ratings on the facility and notes are unchanged.

At the same time, S&P removed all the ratings from CreditWatch,
where they had been placed with negative implications June 18,
2019.

The downgrade reflects S&P's view of the heightened risk the
company faces in addressing its secured notes maturing in 2022. S&P
does not expect Northwest will generate sufficient free cash flow
to redeem its secured notes in 2022, and currently view the
prospects for refinancing at maturity as remote. The rating agency
has revised its earnings and cash flow forecasts following a
life-of-mine update from the company, and estimate a funding
deficit of about US$250 million at the point of maturity (excluding
any future credit facility availability). S&P's deficit estimate is
much higher than the company's expected shortfall of US$100
million, which it mainly attributes to its more conservative
diamond price assumptions and production expectations.
Nevertheless, S&P believes the company is increasingly dependent on
external financing to bridge the gap, in an amount the rating
agency expects will be difficult to secure.

More important, S&P does not assume Northwest will receive an
equity injection from its owner (The Washington Cos.), although
this remains possible. S&P also believes other external financing
options are limited (but possible) in the currently challenging
diamond market environment. Given that the company's notes are
trading at a deep discount, the rating agency believes the
significant (double-digit) yields preclude the refinancing of the
notes and increase the risk of debt restructuring at some point
before maturity.

The negative outlook reflects S&P's view that Northwest will face a
significant funding shortfall to repay its US$550 million notes due
in November 2022, as the rating agency does not envision a
refinancing of the notes at maturity. In S&P's view, the company is
highly sensitive to sustained pressure in diamond market conditions
and dependent on external funding sources to repay its notes as
they come due. The notes mature well beyond the next 12 months and
S&P expects Northwest will generate sufficient cash flow to fund
its fixed charge obligations over the next two years. However, S&P
believes the company faces an increasing risk of a debt
restructuring transaction as the notes maturity approaches in the
absence of a material improvement in its cash-generating
prospects.

"We could lower the ratings if we believe Northwest will breach its
covenant or contemplate a distressed exchange of its notes within
the next 12 months without an unforeseen positive development. In
this scenario, we would expect Northwest to generate
weaker-than-expected earnings and cash flow, most likely due to
lower realized prices, production, or operating issues that
increase projected free cash flow deficits, which effectively rules
out external financing sufficient to repay the bonds and fund
future development," S&P said.

"We could take a positive rating action if we believe the company
will secure the necessary funding to address its 2022 notes
maturity, with increased prospects for future development projects.
In our view, this would likely result from a material equity
injection from The Washington Cos., and a much improved outlook for
diamond market conditions that increase Northwest's prospects for
future development and production beyond the next few years," S&P
said.


NOS INC: Seeks to Hire Bruner Wright as Counsel
-----------------------------------------------
NOS, Inc., seeks authority from the U.S. Bankruptcy Court for the
Northern District of Florida to employ Bruner Wright, P.A., as
counsel to the Debtor.

The firm will advise the Debtor regarding its duties under the
Bankruptcy Code and will provide other legal services related to
its Chapter 11 case.

Bruner Wright will be paid at these hourly rates:

     Robert C. Bruner              $400
     Byron Wright III              $300
     Thomas Woodward               $400
     Paralegal                     $150

The Debtor paid Bruner Wright $10,000 as a retainer. Of that
amount, $3,010 was utilized in connection with prepetition
services.

Bruner Wright will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Byron Wright III, a partner of Bruner Wright, 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.

Bruner Wright can be reached at:

     Byron Wright III, Esq.
     Bruner Wright P.A.
     2810 Remington Green Circle
     Tallahassee, FL 32308
     Tel: (850) 385-0342
     Fax: (850) 270-2441

                         About NOS, Inc.

NOS, Inc., sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. N.D. Fla. Case No. 19-40593) on Nov. 5, 2019.  The
petition was signed by its authorized representative, Shivangi N.
Mehta.  At the time of the filing, the Debtor was estimated to have
assets of less than $50,000 and liabilities under $1 million.  The
Debtor is represented by Bruner Wright, P.A.



O'BENCO IV LP : Creditors Committee Objects to Plan
---------------------------------------------------
The Official Committee of Unsecured Creditors objects to the
Chapter 11 Plan filed by debtor O'Benco IV, LP.

The Debtor has filed a liquidation plan.  The assets of the Debtor
have already been liquidated pursuant to a sale under 11 U.S.C.
Sec. 363.  The terms of the Plan provide for the division of the
sales among the claims in Class 1 (Priority Claims), Class 2 (Other
Secured Claims), Class 3 (Prepetition Lenders' Secured Claims),
Class 4 (General Unsecured Claims), and Class 5 (Interests).

The Committee believes there are one or more classes under the Plan
which have refused to accept the Plan, and the Debtor is unable to
satisfy Sec. 1129(a)(8) as a condition of confirmation.  As a
result, the Debtor must proceed under the "cramdown" confirmation
provisions of 11 U.S.C. Sec. 1129(b).

The Committee also says that other provisions of the Plan are
objectionable:

   * It does not provide for the preservation of claims against
insiders; in fact, it specifically exculpates insiders.

   * It improperly classifies claimants in the same class yet
provides for disparate treatment of claims within a particular
class.

   * The plan is not fair and equitable because it provides for
affirmation of payments to insiders along with the release of
insiders.

The Committee further notes that the proposed plan administrator,
O'Brien Resources LLC, is the general partner and an insider of the
Debtor.

The Committee is represented by:
   
      Charles E. Lauffer, Jr.
      Ritcheson, Lauffer & Vincent, P.C.
      Two American Center
      821 ESE Loop 323, Suite 530
      Tyler, Texas 75701
      Tel: (903) 535-2900

                      About O'Benco IV LP

O'Benco IV, LP -- https://www.obrienenergyco.com/ -- is an
exploration and production company based in Shreveport, La. O'Benco
IV sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. E.D. Texas Case No. 19-60384) on June 3, 2019. At the time
of the filing, the Debtor disclosed assets of between $100million
and $500 million and liabilities of the same range. The Debtor is
represented by William A. Wood III, Esq., at Bracewell LLP.


OAK LAKE LLC: U.S. Trustee Unable to Appoint Committee
------------------------------------------------------
The Office of the U.S. Trustee on Dec. 10, 2019, disclosed in a
court filing that no official committee of unsecured creditors has
been appointed in the Chapter 11 case of Oak Lake, LLC.
  
                        About Oak Lake LLC

Oak Lake LLC owns and operates a skilled nursing care facility in
Grove, Okla.

Oak Lake LLC filed its voluntary Chapter 11 petition (Bankr. N.D.
Ga. Case No. 19-67517) on Nov. 1, 2019.  In the petition signed by
Christopher F. Brogdon, manager, the Debtor was estimated to have
$1 million to $10 million in both assets and liabilities.  Theodore
N. Stapleton, P.C. is the Debtor's legal counsel.


OCEANEERING INTERNATIONAL: S&P Cuts Unsecured Notes Rating to 'BB'
------------------------------------------------------------------
S&P Global Ratings lowered its issue-level rating on Oceaneering
International Inc.'s unsecured notes to 'BB' from 'BB+'. The
recovery rating remains '3', indicating S&P's expectation of
meaningful (50%-70%; rounded estimate: 65%) recovery to creditors
in the event of a payment default.

The downgrade reflects a slower-than-previously-anticipated
recovery in demand for offshore oilfield services, leading S&P to
reduce its EBITDA and cash flow estimates for Oceaneering
International Inc. As a result, S&P does not expect the company's
leverage metrics to improve as rapidly as previously expected. S&P
now projects a funds from operations (FFO)-to-debt ratio of just
15%-20% in 2019 and 20%-25% in 2020, before improving to above 30%
in 2021 (versus the rating agency's prior estimates of about 25% in
2019 and over 30% in 2020).

The negative outlook reflects the risk that S&P could lower its
rating further if Oceaneering's operating and leverage metrics do
not improve over the next 12-24 months per the rating agency's
current expectations, which would most likely occur if conditions
in the offshore sector do not continue their gradual recovery. S&P
projects FFO to debt to be in the 20%-25% range in 2020, improving
to above 30% in 2021.

"We could lower the rating if Oceaneering's leverage metrics
deteriorate, such that FFO to debt falls below 20% on a sustained
basis without a clear path to recovery. This would most likely
result from a slower-than-anticipated improvement in the demand for
offshore services, which would put downward pressure on pricing and
margins for Oceaneering's services," S&P said.

"We could revise the outlook to stable if leverage metrics improve
ahead of our current expectations, such that FFO to debt surpasses
30% for a sustained period. This would most likely occur from a
quicker-than-anticipated improvement in demand for offshore
services," the rating agency said.


OUTERSTUFF LLC: S&P Lowers ICR to 'CCC'; Outlook Negative
---------------------------------------------------------
S&P Global Ratings lowered the issuer credit rating on Outerstuff
LLC to 'CCC' from 'CCC+', reflecting its belief that a specific
default scenario such as a missed interest payment, bankruptcy
filing, or debt restructuring could occur in the next 12 months
without unforeseen positive developments. S&P concurrently lowered
all issue-level ratings on Outerstuff's debt by one notch.

Outerstuff's weak operating performance continued through the third
quarter, and S&P now believes a default could occur over the next
12 months.  Through the first three quarters of 2019, Outerstuff's
revenue fell about 11% from the same period last year, and its
last-12-months EBITDA was negative mainly because of continued weak
sales of National Football League (NFL) products and the slow ramp
up of the Fanatics deal signed in late 2018. In addition, weak
Super Bowl-related sales, management's decision to accommodate
requests by certain retailers to take back inventory in the first
quarter, and soft Umbro sales after a good year for Umbro in 2018
also continued to weigh on the company's performance.

The negative outlook reflects that S&P could lower the rating if it
believes a default is inevitable within the subsequent six months.

"We could lower the rating if operating performance remains weak in
the first half of 2020 and we believe the company could miss an
interest payment, or if a restructuring or filing for bankruptcy
protection appears inevitable over the subsequent six months," S&P
said.

"We could take a positive rating action if Outerstuff significantly
exceeds our projections and we no longer believe a near-term
default is likely. This would most likely result from successfully
renegotiating its NFL contract to drastically reduce the guaranteed
minimum licensing fee. Under this scenario, we would expect the
company to significantly improve cash flows such that free cash
flow is positive and EBITDA coverage of interest approaches 1.5x,"
the rating agency said.


OXBOW CARBON: Moody's Affirms B2 CFR & Alters Outlook to Stable
---------------------------------------------------------------
Moody's Investors Service revised Oxbow Carbon LLC's rating outlook
to stable from positive. At the same time, Moody's affirmed Oxbow's
B2 corporate family rating, B2-PD probability of default rating and
B1 rating of the senior secured revolving credit facility, Term
Loan A and Term Loan B.

Affirmations:

Issuer: Oxbow Carbon LLC

Probability of Default Rating, Affirmed B2-PD

Corporate Family Rating, Affirmed B2

Senior Secured Bank Credit Facility, Affirmed B1 (LGD2)

Outlook Actions:

Issuer: Oxbow Carbon LLC

Outlook, Changed To Stable From Positive

RATINGS RATIONALE

"In changing the outlook, Moody's considered the adverse impact on
the company's projected performance of global trade tensions,
weakened conditions in global aluminum and steel industries as well
as India's petcoke restrictions, amongst other factors", says Botir
Sharipov, the lead analyst for Oxbow. The stable outlook reflects
Moody's view that Oxbow's adjusted leverage will rise moderately
but will remain appropriate for the B2 rating as Oxbow's recent
actions to simplify its capital structure, reduce debt and
operating costs as well as its ability to generate positive free
cash flow will help support its current financial profile in a
challenging macro environment.

Oxbow's B2 CFR reflects its strong global industry position in the
production and sale of calcined petroleum coke and fuel grade
petcoke (FGP), marketing, distribution and logistics services, high
barriers to entry and adequate liquidity. Oxbow benefits from the
relatively less volatile operating margins than other producers
given that operating earnings of its calcining segment are
generally based on the net spread between the GPC and CPC prices
which has recently normalized.

The rating also considers Oxbow's modest size and significant
exposure to the volatile aluminum and steel industries - key end
markets for CPC and FGP. Oxbow's rating is constrained by its
limited business diversification, particularly following the sale
of two segments, which meaningfully diminished its scale and
increased its reliance on calcining and FGP marketing segments to
generate the vast majority of its revenues and cashflows.

Oxbow has recently divested the lower-margin Sulphur and Activated
Carbon segments. This allowed the company to simplify its capital
structure to all-1st lien debt and reduce interest expenses by
fully repaying the 2nd Lien TLB with cash proceeds from asset sales
and incremental borrowings on its 1st lien $325 million RCF. In Q3,
the company repaid another $21 million of debt. Despite lower
absolute debt levels, debt/EBITDA as adjusted by Moody's, climbed
to 3.9x as of September 30, 2019 from about 3.1x as of December 31,
2018 due to the impact of Indian petcoke restrictions and lower
sales and margins at certain segments, particularly calcining
business which is highly dependent on the health of global aluminum
and steel markets.

Absent a material deterioration in global aluminum and steel
markets, Moody's believes that Oxbow's adjusted debt/EBITDA will be
in the range of 4.0 - 4.5x in 2020, as pricing environment and
EBITDA are unlikely to improve meaningfully in the near term given
the smaller scale and softer market conditions at many of the
industries the company serves. That said, Oxbow is expected to
generate moderate free cash flow in the next 12-18 months that
could be used for further debt reductions.

Oxbow faces a number of ESG risks as a producer of carbon-based
products and a supplier of key input ingredients for the steel and
primary aluminum industries. India's petcoke import restrictions
which were driven by environmental concerns, specifically
greenhouse gas emissions associated with the use of petcoke as
fuel, have led to lower CPC and GPC sales for Oxbow. Many of the
company's calcining plants do not have flue-gas desulfurization
systems installed and are significant emitters of sulfur dioxide.
The company's Port Arthur (TX) calcining facility is currently in
the process of renewing its federal operating permit with Texas
Commission on Environmental Quality (TCEQ). At the permit-related
public hearing held in November 2019, local activists and
environmental groups voiced concerns over how TCEQ monitors the
plant's SO2 emissions to ensure it does not exceed the
state-mandated limits.

Oxbow has adequate liquidity supported by $61 million of cash and
cash equivalents as of September 30, 2019, moderate free cash flow
generation and $175 million availability under the $325 million
revolver expiring in 2022. Moody's expects the company to remain in
compliance with financial covenants of a maximum total net leverage
ratio of 4.50x and minimum interest coverage ratio of 2.50x but
with a modest cushion.

The B1 ratings of the first-lien senior secured revolver and term
loans, in line with the CFR, reflect their preponderance in the
capital structure with respect to claim on collateral, which
includes substantially all assets of the company.

An upgrade would be considered if the company maintains
consistently positive free cash flow and leverage is below 4.0x on
a sustainable basis. The ratings and/or outlook could be downgraded
if liquidity deteriorates, or if leverage is sustained persistently
above 5.5x.

Headquartered in West Palm Beach, Florida, Oxbow Carbon LLC is a
major producer and supplier of calcined petroleum coke. It is also
among the world's largest distributors of carbon-based fuels
including fuel grade petcoke and other products. Revenue for the 12
months ended September 30, 2019 was approximately $2.28 billion.
Oxbow is a subsidiary of Oxbow Carbon & Minerals Holdings, Inc., a
private company controlled by William I. Koch, with private equity
and strategic investors comprise the remaining shareholders. The
company does not publicly disclose financial information.

The principal methodology used in these ratings was Steel Industry
published in September 2017.


P & P ENTERPRISES: Hires Fox & Associates as Listing Agent
----------------------------------------------------------
P & P Enterprises, Inc., LLC, seeks authority from the U.S.
Bankruptcy Court for the Eastern District of Virginia to employ Fox
& Associates Partners, Inc. T/A Tranzon Fox, as its listing agent
for the lease and/or sale of real property in which the estate has
an interest.

The principal assets of Debtor's estate consists of a pet care
business, a 22,000 (approximately) square foot facility in Manassas
Park, Virginia, which has been outfitted as a facility for the
provision of day care, boarding and
veterinarian services for pets, as well as a training center for
pet groomers, and various items of specialized personal property
for the provisions of those services.

Fox & Associates will receive a commission of 5 percent of the
gross purchase price. If property is sold through a buyer's agent,
the brokers commission is at 6 percent of the gross purchase price.


Jeffrey Stein, shareholder of Fox & Associates,  assures the court
that he is a disinterested person within the meaning of 11 U.S.C.
Sec. 101(14).

The firm can be reached at:

     Jeffrey Stein
     Fox & Associates Partners, Inc.
     T/A Tranzon Fox
     5172 W. Military Hwy
     Chesapeake, VA 23321.
     Phone: 757-473-3000
            757-473-9787

                           About P & P Enterprises

P & P Enterprises, Inc., based in Manassas, VA, filed a Chapter 11
petition (Bankr. E.D. Case No. 19-12425) on July 24, 2019.  In the
petition signed by Peter Perretta, president, the Debtor estimated
$1 million to $10 million in both assets and liabilities.  The Hon.
Brian F. Kenney oversees the case.  Christopher S. Moffit, Esq., at
the Law Office of Christopher S. Moffit, serves as bankruptcy
counsel to the Debtor.


PALM HEALTHCARE: Allowed to Use Cash Collateral Through April 30
----------------------------------------------------------------
Judge Erik P. Kimball of the U.S. Bankruptcy Court for the Southern
District of Florida authorized Palm Healthcare Company, Inc. and
its debtor-affiliates to use the cash collateral as set forth in
the Final Order through April 30, 2020, and up to the amounts shown
in the Budgets.

As adequate protection for the use of Cash Collateral, the Debtors
grant to Fifth Third Bank a first priority post-petition lien on
all cash of the Debtors generated post-petition. The Debtor Palm
Partners, LLC grants to McKesson Corporation a second priority
post-petition lien on all its cash generated post-petition, solely
to the extent of any lien existing pre-petition.

                   About Palm Healthcare Co.

Palm Healthcare Company -- http://palmhealthcare.com/-- owns and
operates an addiction treatment center in Delray Beach, Florida.
The Company's treatment programs are structured as a combination of
12-Step model, cognitive therapy, behavioral therapy, holistic
modalities and aftercare services.

Palm Healthcare Company (Bankr. S.D. Fla. Case No. 19-19156) and
affiliates Palm Partners, LLC (Bankr. S.D. Fla. Case No. 19-19161),
Interloc Properties, LLC (Bankr. S.D. Fla. Case No. 19-19163), and
Miami Real Estate Trust, LLC (Bankr. S.D. Fla. Case No. 19-19164),
sought Chapter 11 protection on July 11, 2019.  The cases are
assigned to Judge Erik P. Kimball.

In the petitions signed by Peter Harrigan, president, Palm Partners
was estimated to have assets in the range of $0 to $50,000, and $1
million to $10 million in debt; and Palm Healthcare was estimated
to have assets and liabilities in the range of $0 to $50,000.

The Debtors tapped Robert C. Furr, Esq., at Furrcohen P.A., as
counsel.


PES HOLDINGS: Term Lender Group Files 1st Modified Statement
------------------------------------------------------------
In the Chapter 11 cases of PES Holdings, LLC, et al., Ad Hoc Term
Loan Lender Group, through the law firms Morris, Nichols, Arsht &
Tunnell LLP and Davis Polk & Wardwell LLP filed a first supplement
verified statement under Rule 2019 of the Federal Rules of
Bankruptcy Procedure, to disclose an updated list of members that
they are representing.

The Ad Hoc Term Loan Group formed by certain members that provided
first lien term loans under that certain First Lien Term Loan
Credit Agreement, dated as of August 7, 2018, by and among PES, the
Guarantors,  as administrative agent and collateral agent, which
Members also committed to provide a superpriority, secured
debtor-in-possession credit facility pursuant to that certain
Superpriority Secured Debtor-In- Possession Credit Agreement, dated
as of July 24, 2019, by and among PES, each of the Guarantors party
thereto from time to time, the banks and other financial
institutions or entities party thereto from time to time and
Cortland, as administrative agent.

In June 2019, the Ad Hoc Term Loan Lender Group engaged Davis Polk
to represent it in connection with the Members' holdings of the
Existing Term Loan. In or around July 2019, the Ad Hoc Term Loan
Lender Group engaged MNAT to act as co-counsel in the Chapter 11
Cases.

Davis Polk and MNAT represents the Ad Hoc Term Loan Lender Group.
MNAT also separately represents Cortland as Prepetition Agent and
as the administrative agent under the DIP Credit Agreement, and
Davis Polk separately represents the Prepetition Agent as its
special litigation counsel, in each case, in the Chapter 11 Cases.
Counsel does not represent or purport to represent any other entity
or entities in connection with the Chapter 11 Cases. In addition,
the Ad Hoc Term Loan Lender Group does not claim or purport to
represent any other entity and undertakes no duties or obligations
to any entity.

On August 22, 2019, Counsel submitted the Verified Statement of
Davis Polk & Wardwell LLP and Morris, Nichols, Arsht & Tunnell LLP
Pursuant to Federal Rule of Bankruptcy Procedure 2019 [D.I. 246].
Counsel submits this First Supplemental Statement to update
information regarding the principal amount of claims under the
Tranche A Loans, Tranche A-2 Loans, Tranche B Loans, Tranche C
Loans, and DIP Loans that the Members of the Ad Hoc Term Loan
Lender Group beneficially own or manage in accordance with
Bankruptcy Rule 2019.

The Members of the Ad Hoc Term Loan Lender Group, collectively,
beneficially own or manage approximately $114,949,341.42 of Tranche
A Loans, $60,537,330.18 of Tranche A-2 Loans, $29,225,636.06 of
Tranche B Loans, $407,822,420.98 of Tranche C Loans, $65,000,000.00
of DIP Loans, $33,718,658.00 of
Unfunded DIP Commitments, and 22,851,478 shares of PES Energy Inc.,
as set forth on Exhibit A hereto.

As of Dec. 10, 2019, the members of the Ad Hoc Term Loan Lender
Group and their disclosable economic interests are:

  (1) Credit Suisse Asset Management, LLC
      11 Madison Avenue
      New York, NY 10010

      * Tranche A Loans: $53,823,545.32
      * Tranche A-2 Loans: $26,590,500.51
      * Tranche C Loans: $171,930,300.98
      * DIP Loans: $16,250,000.00
      * Unfunded DIP Commitment: $7,750,000.00
      * Shares of PES Energy Inc.: 9,810,552

  (2) Bardin Hill Investment Partners LP
      477 Madison Avenue, 8th Floor
      New York, NY 10022

      * Tranche A Loans: $11,031,274.52
      * Tranche A-2 Loans: $26,443,431.57
      * Tranche B Loans: $9,528,571.46
      * Tranche C Loans: $144,880,127.23
      * DIP Loans: $38,234,309.10
      * Unfunded DIP Commitment: $15,765,690.90
      * Shares of PES Energy Inc.: 8,902,772

  (3) Third Point LLC
      390 Park Avenue
      New York, NY 10022

      * Tranche C Loans: $48,890,281.44
      * Shares of PES Energy Inc.: 2,423,308

  (4) J.H. Lane Partners, LP
      126 East 56th Street, Suite 1620
      New York, NY 10022

      * Tranche A-2 Loans: $5,318,100.10
      * Tranche B Loans: $6,106,060.60
      * Shares of PES Energy Inc.: 215,517

  (5) Serengeti Asset Management LP
      632 Broadway
      New York, NY 10012

      * Tranche A-2 Loans: $2,185,298.00
      * Tranche B Loans: $4,733,861
      * DIP Loans: $3,822,000.00
      * Unfunded DIP Commitment: $2,058,000.00
      * Shares of PES Energy Inc.: 129,310

  (6) Citizens Financial Group, Inc.
      1 Citizens Plaza
      Providence, RI 02903

      * Tranche B Holdings: $8,857,142.88

  (7) Ellington Management Group
      53 Forest Ave
      Old Greenwich, CT 06870

      * Tranche A Loans: $15,251,697
      * Tranche C Loans: $10,615,605

  (8) Concise Capital Management, LP
      1111 Brickell Avenue, Suite 1525
      Miami, FL 33131

      * Tranche A Loans: $11,000,000
      * Unfunded DIP Commitments: $1,574,488

  (9) American Money Management Corp.
      301 E. Fourth Street, 27th Floor
      Cincinnati, OH 45202

      * Tranche C Loans: $8,920,157.63
      * Unfunded DIP Commitments: $2,039,044.10
      * Shares of PES Energy Inc.: 405,748

(10) MJX Asset Management LLC
      12 E 49th Street
      New York, NY 10017

      * Tranche A Loans: $6,869,530.58
      * Tranche C Loans: $22,585,948.70
      * Unfunded DIP Commitment: $4,139,435.00
      * Shares of PES Energy Inc.: 964,271.00

(11) Marble Ridge Capital LP
      1250 Broadway, Suite 2601
      New York, NY 10001

      * Tranche A Loans: $16,973,294.00
      * DIP Loans: $6,693,691.00
      * Unfunded DIP Commitments: $392,000.00

Counsel to the Ad Hoc Term Loan Lender Group can be reached at:

         MORRIS, NICHOLS, ARSHT & TUNNELL LLP
         Robert J. Dehney, Esq.
         Andrew R. Remming, Esq.
         Paige N. Topper, Esq.
         1201 North Market Street
         Wilmington, DE 19899-1347
         Telephone: (302) 351-9353
         Facsimile: (302) 425-4673
         E-mail: rdehney@mnat.com
                 aremming@mnat.com
                 ptopper@mnat.com

                  - and -

         DAVIS POLK & WARDWELL LLP
         Damian S. Schaible, Esq.
         James I. McClammy, Esq.
         David B. Toscano, Esq.
         Aryeh Ethan Falk, Esq.
         Jonah A. Peppiatt, Esq.
         450 Lexington Avenue
         New York, NY 10017
         Telephone: (212) 450-4000
         Facsimile: (212) 701-5800
         E-mail: damian.schaible@davispolk.com
                 james.mcclammy@davispolk.com
                 david.toscano@davispolk.com
                 aryeh.falk@davispolk.com
                 jonah.peppiatt@davispolk.com

A copy of the Rule 2019 filing, downloaded from PacerMonitor.com,
is available at https://is.gd/PxMBmT and https://is.gd/B0meKt

                      About PES Holdings

Headquartered in Philadelphia, Pennsylvania, PES Holdings LLC and
its subsidiaries are owners and operators of oil refining complex
and have been continuously operating in some form for over 150
years.

PES Energy Inc. is the indirect parent company of Philadelphia
Energy Solutions Refining and Marketing LLC (PESRM).  PESRM owns
and operates the Point Breeze and Girard Point oil refineries
located on an integrated, 1,300-acre refining complex in
Philadelphia.

PES Holdings, LLC, and seven subsidiaries, including PES Energy,
sought Chapter 11 protection (Bankr. D. Del. Lead Case No.
19-11626) on July 21, 2019.

PSE Holdings estimated $1 billion to $10 billion in assets and the
same range of liabilities as of the bankruptcy filing.

The Debtors tapped Kirkland & Ellis LLP as general bankruptcy
counsel; Pachulski Stang Ziehl & Jones LLP as local bankruptcy
counsel; PJT Partners LP as financial advisor; and Alvarez & Marsal
North America, LLC, as restructuring advisor.  Omni Management
Group, Inc., is the notice and claims agent.

The Company's proposed DIP financing lenders are represented by
Davis Polk & Wardwell LLP and Houlihan Lokey Capital, Inc.


PG&E CORPORATION: Gibson, Dunn Updates Trade Committee
------------------------------------------------------
Pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure,
the law firm of Gibson, Dunn & Crutcher LLP submitted an amended
verified statement to disclose an updated list of the Ad Hoc Trade
Committee that it is representing in the Chapter 11 cases of PG&E
Corporation and Pacific Gas and Electric Company.

On or around Oct. 4, 2019, the Ad Hoc Trade Committee engaged
Gibson, Dunn & Crutcher LLP to represent it in connection with the
Debtors' restructuring.  On October 16, 2019, the Ad Hoc Trade
Committee filed the Verified Statement of Ad Hoc Committee of
Holders of Trade Claims Pursuant to Bankruptcy Rule 2019 [Docket
No. 4214] (the "Original 2019 Statement"). This 2019 Statement
amends and replaces the Original 2019 Statement.

As of Dec. 10, 2019, members of the Ad Hoc Committee and their
disclosable economic interests are:

(1) Whitebox Advisors LLC
    3033 Excelsior Blvd.
    Minneapolis, MN 55416

    * Trade Claims: $80,222,350.00
    * Mechanics' Lien Claims: $21,265,560.00
    * Senior Notes: $2,500,000.00
    * DIP Obligations: $1,500,000.00

(2) Olympus Peak Asset Management
    745 Fifth Avenue, Suite 1604
    New York, NY 10151

    * Trade Claims: $84,328,335.00
    * Utility L/C Reimbursement: $5,000,000.00

(3) Marble Ridge Capital
    1250 Broadway, Suite 2601
    New York, NY 10001

    * Trade Claims: $ 113,667,794.95
    * Holdco Revolver Loans: $14,057,167.56
    * 400,000 shares of PG&E common stock

(4) Citigroup Financial Products, Inc.
    Citigroup Global Markets Inc.
    390 Greenwich St., 6th Floor
    New York, NY 10013

    * Trade Claims: $30,147,000.00
    * Mechanics' Lien Claims: $13,679,000.00
    * Utility Revolver Loans: $10,049,999.00
    * Senior Notes: $33,718,000.00
    * Holdco Revolver Loans: $5,750,000.00
    * Wildfire Subrogation Claims: $30,804,004.00

Counsel for the Ad Hoc Committee of Holders of Trade Claims can be
reached at:

         GIBSON, DUNN & CRUTCHER LLP
         David M. Feldman, Esq.
         Matthew K. Kelsey, Esq.
         200 Park Avenue
         New York, NY 10166-0193
         Telephone: (212) 351-4000
         Facsimile: (212) 351-4035
         E-mail: dfeldman@gibsondunn.com
                 mkelsey@gibsondunn.com

                   - and -

         Michael S. Neumeister, Esq.
         Michelle Choi, Esq.
         333 South Grand Avenue
         Los Angeles, CA 90071-3197
         Telephone: (213) 229-7000
         Facsimile: (213) 229-7520
         E-mail: mneumeister@gibsondunn.com
                 mchoi@gibsondunn.com

A copy of the Rule 2019 filing, downloaded from PacerMonitor.com,
is available at https://is.gd/CarkIh

                    About PG&E Corporation

PG&E Corporation (NYSE: PCG) -- http://www.pgecorp.com/-- is a
Fortune 200 energy-based holding company, headquartered in San
Francisco. It is the parent company of Pacific Gas and Electric
Company, an energy company that serves 16 million Californians
across a 70,000-square-mile service area in Northern and Central
California.

As of Sept. 30, 2018, the Debtors, on a consolidated basis, had
reported $71.4 billion in assets on a book value basis and $51.7
billion in liabilities on a book value basis.

PG&E Corp. and Pacific Gas employ approximately 24,000 regular
employees, approximately 20 of whom are employed by PG&E Corp.  Of
Pacific Gas' regular employees, approximately 15,000 are covered by
collective bargaining agreements with local chapters of three labor
unions: (i) the International Brotherhood of Electrical Workers;
(ii) the Engineers and Scientists of California; and (iii) the
Service Employees International Union.

On Jan. 29, 2019, PG&E Corp. and its primary operating subsidiary,
Pacific Gas and Electric Company, filed voluntary Chapter 11
petitions (Bankr. N.D. Cal. Lead Case No. 19-30088).

PG&E Corporation and its regulated utility subsidiary, Pacific Gas
and Electric Company, said they are facing extraordinary challenges
relating to a series of catastrophic wildfires that occurred in
Northern California in 2017 and 2018.  The utility said it faces an
estimated $30 billion in potential liability damages from
California's deadliest wildfires of 2017 and 2018.

Weil, Gotshal & Manges LLP and Cravath, Swaine & Moore LLP are
serving as PG&E's legal counsel, Lazard is serving as its
investment banker and AlixPartners, LLP is serving as the
restructuring advisor to PG&E.  Prime Clerk LLC is the claims and
noticing agent.

In order to help support the Company through the reorganization
process, PG&E has appointed James A. Mesterharm, a managing
director at AlixPartners, LLP, and an authorized representative of
AP Services, LLC, to serve as Chief Restructuring Officer.  In
addition, PG&E appointed John Boken also a Managing Director at
AlixPartners and an authorized representative of APS, to serve as
Deputy Chief Restructuring Officer.  Mr. Mesterharm, Mr. Boken and
their colleagues at AlixPartners will continue to assist PG&E with
the reorganization process and related activities.  Morrison &
Foerster LLP, as special regulatory counsel.

The Office of the U.S. Trustee appointed an official committee of
creditors on Feb. 12, 2019. The Committee retained Milbank LLP as
counsel; FTI Consulting, Inc., as financial advisor; Centerview
Partners LLC as investment banker; and Epiq Corporate
Restructuring, LLC as claims and noticing agent.

On Feb. 15, 2019, the U.S. trustee appointed an official committee
of tort claimants.  The tort claimants' committee is represented by
Baker & Hostetler LLP.


PGN DESIGN: Seeks to Hire Century 21 MM as Real Estate Broker
-------------------------------------------------------------
PGN Design Group, LLC seeks authority from the United States
Bankruptcy Court for the Central District of California (Los
Angeles) to hire Century 21 MM as its real estate broker, to market
and sell the properties located at 212 Putnam Street, San
Francisco, CA 94110, and 1 Putnam Street, San Francisco, CA 94110.

PGN Design requires Century 21 to:

     a. order, analyze, and prepare all documentation necessary to
list and advertise the Putnam Properties for sale;

     b. list the Putnam Properties with the most favorable listing
services available, show the Putnam Properties as necessary and
respond to potential purchasers' inquiries and solicit reasonable
offers of purchasers;

     c. convey all reasonable purchase offers to the Debtor and the
Debtor's counsel, and subject to Debtor's approval, negotiate and
confirm the acceptance of the best
offer; and

     d. cause to be prepared and submitted to escrow on behalf of
Applicant any and all documents necessary to consummate a sale of
the Putnam Properties.

Century 21 will receive a commission upon sale of 5 percent of the
sale price with the buyer's agent to receive 2.5 percent of the
sale amount, unless Century 21 agent Keegan Davis represents both
the buyer and the seller in which case the commission will be 4
percent of the sale price.

Century 21 does not hold or represent an interest adverse to the
estate, and is a disinterested person as that term is defined in
Bankruptcy Code Section 101(14), according to court filings.

The firm can be reached at:

     Keegan Davis
     Century 21 Real Estate LLC
     175 Park Avenue
     Madison, NJ 07940
     Phone: 866-732-6139

                  About PGN Design Group, LLC

PGN Design Group, LLC is a privately held company headquartered in
Los Angeles, California.

PGN Design Group, LLC, filed a voluntary petition under Chapter 11
of the Bankruptcy code (Bankr. C.D. Cal. Case No. 19-23073) on Nov.
5, 2019. In the petition signed by Robert Williams, managing
member, the Debtor estimates $1 million to $10 million in both
assets and liabilities. Vahe Khojayan, Esq. at KG LAW, APC,
represents the Debtor as counsel.


PGN DESIGN: Seeks to Hire Dudum Real Estate as Real Estate Broker
-----------------------------------------------------------------
PGN Design Group, LLC seeks authority from the United States
Bankruptcy Court for the Central District of California (Los
Angeles) to hire Dudum Real Estate Group as its real estate broker,
to market and sell the property located at 142 Diablo Court,
Pleasant Hill, CA 94523.

PGN Design requires Dudum Real Estate to:

     a. order, analyze, and prepare all documentation necessary to
list and advertise the Diablo Court Property for sale;

      b. list the Diablo Court Property with the most favorable
listing services available, show Diablo Court Property as necessary
and respond to potential purchasers' inquiries and solicit
reasonable offers of purchasers;

      c. convey all reasonable purchase offers to the Debtor and
its counsel, and subject to its approval, negotiate and confirm the
acceptance of the best offer; and

     d. cause to be prepared and submitted to escrow on behalf of
Applicant any and all documents necessary to consummate a sale of
the Diablo Court Property.  

Dudum Real Estate will receive a commission upon sale of 5 percent
of the sale price with the buyer's agent
to receive 2.5 percent of the sale amount.

Dudum Real Estate does not hold or represent an interest adverse to
the estate, and is a disinterested person as that term is defined
in Bankruptcy Code Section 101(14), according to court filings.

The realtor can be reached at:

     Brett Barnes
     Dudum Real Estate Group
     1910 Olympic Blvd. #100
     Walnut Creek, CA 94596
     Phone: 925-937-4000

                 About PGN Design Group, LLC

PGN Design Group, LLC is a privately held company headquartered in
Los Angeles, California.

PGN Design Group, LLC, filed a voluntary petition under Chapter 11
of the Bankruptcy code (Bankr. C.D. Cal. Case No. 19-23073) on Nov.
5, 2019. In the petition signed by Robert Williams, managing
member, the Debtor estimates $1 million to $10 million in both
assets and liabilities. Vahe Khojayan, Esq. at KG LAW, APC,
represents the Debtor as counsel.


PINNACLE ASSET TRUST: BB&T Prohibits Continued Cash Collateral Use
------------------------------------------------------------------
Branch Banking and Trust Company requests the U.S. Bankruptcy Court
for the Middle District of Florida to prohibit Pinnacle Asset Trust
LLC from using cash collateral and require the Debtor to segregate
and account for the proceeds of BB&T's collateral, including the
Rents, or, in the alternative, for adequate protection.

BB&T is a secured creditor of Debtor by virtue of a perfected
mortgage and assignment of rents on the Property. Sometime in
January 2016, the Debtor executed and delivered to BB&T a
Promissory Note in the original principal amount of $870,000,
secured by mortgage and assignment of leases and rents. The
Assignment of Rents expressly assigns to BB&T.

BB&T believes the Property is leased to at least one tenant and
Debtor is negotiating a lease of the remainder of the Property to
another tenant. The Debtor remains in possession of the Rents and,
in the course of operating its business as debtor-in-possession,
Debtor is or may be receiving proceeds of BB&T's collateral,
including the Rents, and depositing such proceeds into its
operating accounts or using them to fund operations and/or paying
them out to insiders or other professionals without permission or
Court authorization.

BB&T has not consented and does not consent to the Debtor's use of
the Rents. The Debtor has not segregated BB&T's cash collateral as
required by the Bankruptcy Code. Thus, BB&T is entitled to an
accounting of any proceeds of its collateral in Debtor's custody,
possession, and control.

Alternatively, if Debtor is authorized to use BB&T's cash
collateral and the automatic stay remains in effect, BB&T requests
the Court grant it adequate protection of its security interest in
the Rents by requiring Debtor to:

     (a) provide BB&T proof of insurance on the Real Property and
other Collateral;

     (b) provide BB&T with copies of all monthly operating reports
required to be filed with the U.S. Trustee, including a Rent Roll,
copies of all leases or other written rental or occupancy
agreements and tenancies affecting the Property, and a detailed
monthly budget of expenses and thereafter, on a monthly basis,
including, without limitation, identifying each tenant and the
amount paid and/or due during the period;

     (c) provide BB&T the right to inspect Debtor's books and
records and its collateral including the Property;

     (d) provide an accounting of all cash collateral since the
Petition Date;  

     (e) segregate the cash collateral in a separate bank account
and provide monthly accountings to BB&T;

     (f) pay to BB&T all net operating income, after reduction of
all normal, reasonable operating expenses each month; and

     (g) grant BB&T a replacement and post-petition lien on all
post-petition Rents or cash collateral derived from the Property.

Attorneys for BB&T:

         W. Patrick Ayers, Esq.
         Dana L. Robbins, Esq.
         BURR & FORMAN LLP
         201 North Franklin Street, Suite 3200
         Tampa, Florida 33602
         Telephone: (813) 221-2626
         Facsimile: (813) 221-7335
         E-mail: payers@burr.com
                 drobbins@burr.com

Pinnacle Asset Trust LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. M.D. Fla. Case No. 19-09908) on Oct. 18,
2019.  In the petition signed by Harry Zea (owner and as Trustee of
the Rohar Trust), the Debtor disclosed assets of less than $1
million and debts under $500,000.  The Debtor is represented by
Michael R. Dal Lago, Esq., at Dal Lago Law.


PONTIAC PROPERTIES: Seeks to Hire Bielli & Klauder as Counsel
-------------------------------------------------------------
Pontiac Properties, LLC, seeks authority from the U.S. Bankruptcy
Court for the Eastern District of Pennsylvania to employ Bielli &
Klauder, LLC, as counsel to the Debtor.

Pontiac Properties requires Bielli & Klauder to:

   a. give the Debtor legal advice with respect to its powers and
      duties as the Debtor and Debtor-in-Possession;

   b. prepare on behalf of the Debtor necessary applications,
      answers, orders, reports and other legal papers;

   c. represent the Debtor in defense of any proceedings
      instituted to reclaim property or to obtain relief from the
      automatic stay under section 362(a) of the Bankruptcy Code;

   d. assist the Debtor in the preparation of schedules,
      statements of financial affairs, and any amendments
      thereto, which the Debtor may be required to file in this
      case;

   e. assist the Debtor in the preparation of a plan of
      reorganization and disclosure statement;

   f. assist the Debtor with any potential sales of its assets
      pursuant to section 363 of the Bankruptcy Code; and

   g. perform all other legal services for the Debtor which may
      be necessary herein.

Bielli & Klauder will be paid at these hourly rates:

     Thomas D. Bielli                $350
     David M. Klauder                $350
     Nella M. Bloom (of Counsel)     $325
     Kathleen Seligman (Of counsel)  $325
     Paraprofessionals               $115

Prior to initiating the bankruptcy case, Bielli & Klauder received
a $7,000 retainer for advance counsel fees, and the payment of the
Chapter 11 filing fee. The Retainer was paid by the Debtor. Prior
to the Petition Date, Bielli & Klauder drew down $3,342 from the
Retainer for bankruptcy preparation fees and expenses incurred
prior to the filing, including the filing fee for initiating the
bankruptcy case.

Bielli & Klauder will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Thomas Bielli, Esq., a partner at Bielli & Klauder, LLC, disclosed
in a court filing that the firm is "disinterested" as defined in
section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Thomas Daniel Bielli, Esq.
     BIELLI & KLAUDER, LLC
     1500 Walnut Street, Suite 900
     Philadelphia, PA 19102
     Tel: 215-642-8271
     Fax: 215-754-4177
     E-mail: tbielli@bk-legal.com

                  About Pontiac Properties, LLC

Pontiac Properties, LLC, filed a Chapter 11 bankruptcy petition
(Bankr. E.D. Pa. Case No. 19-16951) on November 5, 2019, disclosing
under $1 million in both assets and liabilities. The Debtor is
represented by Thomas Bielli, Esq., at Bielli & Klauder, LLC.


PROQUEST LLC: S&P Affirms 'B' Rating on First-Lien Term Loan
------------------------------------------------------------
S&P Global Ratings affirmed its 'B' issue-level rating on
Michigan-based ProQuest LLC's revolving credit facility due 2024
and term loan B due 2026. The issue-level rating affirmation
follows the company's proposed $210 million incremental term loan
issuance (for a total of $935 million outstanding pro forma for the
recent October 2019 refinancing).

The company plans to use the incremental debt to partially fund its
acquisition of III US Holdings LLC (d/b/a as Innovative
Interfaces). Innovative Interfaces provides automated solutions for
library operations for academic, public, and consortia libraries.
S&P's '3' recovery rating on this debt is unchanged, indicating its
expectation for meaningful (50%-70%; rounded estimate: 50%)
recovery for lenders in the event of a payment default.

Pro forma for the refinancing, incremental term loan issuance, and
acquisition, ProQuest's adjusted debt to EBITDA is about 6.4x as of
Sept. 30, 2019. S&P expects leverage to be in the mid to high-5x
area, based on timing of expected synergies. It also forecasts
adjusted free operating cash flow (FOCF) to debt will be around 10%
by the end of 2020. S&P believes that the expected synergies,
Innovative Interfaces' recurring revenue base, and underlying
growth trajectory of the combined businesses will enable the
company to de-lever over the next 12 months.

S&P's 'B' issuer credit rating on ProQuest is unchanged. It
continues to view the scope of the company's services as narrow in
mature end markets and expect the acquisition to provide modest
diversification benefits. The transaction enables to ProQuest to
expand into the public library end market with cross-selling
opportunities. Prior to the transaction, only about 10% of the
company's annual revenue came from public libraries, while higher
education institutions contributed over 80%.

ISSUE RATINGS—RECOVERY ANALYSIS

Key analytical factors:

-- S&P's simulated default scenario contemplates a default in
2022, mainly stemming from a decline in cash flow as a result of a
difficult funding environment for libraries, poorly timed
debt-funded acquisitions, and management execution missteps.

-- The debt facilities are issued by ProQuest LLC, with the
revolving credit facility and term loan B benefiting from a
first-priority perfected lien on substantially all domestic
property and assets, all outstanding capital stock of the company
and each of its domestic subsidiaries of the guarantors.

-- S&P's distressed valuation reflects its assumption that
ProQuest would continue to have a viable business model in the
event of a default, based on the recurring annual subscriptions for
its unique products and services and its long-standing client
relationships.

Simulated default assumptions:

-- Simulated year of default: 2022
-- EBITDA at emergence: about $104 million
-- EBITDA multiple: 5.5x
-- The revolver is 85% drawn in S&P's simulated year of default

Simplified waterfall

-- Net enterprise value (after 5% administrative costs): about
$543 million

-- Valuation split (U.S. obligors/nonobligors, primarily outside
the U.S.): 50%/50%

-- Collateral available to first-lien creditors: About $450
million

-- Senior secured first-lien debt claims: $1.1 billion

-- Recovery expectations: 50%-70%; rounded estimate: 50%

-- Value available to unsecured claims (collateral/noncollateral):
$0/$95.5 million

-- Pari passu secured deficiency claims: $626 million

-- Total unsecured claims: $626 million

-- Recovery expectations: N.A.

Note that all debts include six months of prepetition interest.


PROTORQUE PERFORMANCE: U.S. Trustee Unable to Appoint Committee
---------------------------------------------------------------
The Office of the U.S. Trustee on Dec. 10, 2019, disclosed in a
court filing that no official committee of unsecured creditors has
been appointed in the Chapter 11 case of Protorque Performance
Products, Inc.
  
               About Protorque Performance Products

Protorque Performance Products, Inc., sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y. Case No.
19-76919) on Oct. 7, 2019.  At the time of the filing, the Debtor
had estimated assets of less than $50,000 and liabilities of
between $100,001 and $500,000.  The case is assigned to Judge Alan
S. Trust.  Sarah M. Keenan, Esq., at Sferrazza & Keenan PLLC, is
the Debtor's legal counsel.


PURDUE PHARMA: Hires Prime Clerk as Administrative Advisor
----------------------------------------------------------
Purdue Pharma L.P., and its debtor-affiliates, seek authority from
the U.S. Bankruptcy Court for the Southern District of New York to
employ Prime Clerk, LLC, as administrative advisor to the Debtor.

Purdue Pharma requires Prime Clerk to:

   a. assist with, among other things, solicitation, balloting,
      and tabulation of votes, and prepare any related reports,
      as required in support of confirmation of a chapter 11
      plan, and in connection with such services, process
      requests for documents from parties in interest, including,
      if applicable, brokerage firms, bank back-offices, and
      institutional holders;

   b. prepare an official ballot certification and, if necessary,
      testify in support of the ballot tabulation results;

   c. assist with the preparation of the Debtors' schedules of
      assets and liabilities and statements of financial affairs
      and gather data in conjunction therewith;

   d. provide a confidential data room, if requested;

   e. manage and coordinate any distributions pursuant to a
      chapter 11 plan; and

   f. provide such other processing, solicitation, balloting, and
      other administrative services described in the Engagement
      Agreement, but not covered by the Section 156(c) Order, as
      may be requested from time to time by the Debtors, the
      Court, or the Office of the Clerk of the Bankruptcy Court
      (the "Clerk").

Prime Clerk will be paid at these hourly rates:

     Director of Solicitation                $190
     Solicitation Consultant                 $185
     COO and Executive VP                  No charge
     Director                              $170-$190
     Consultant/Senior Consultant           $70-$160
     Technology Consultant                  $35-$95
     Analyst                                $30-$45

Prime Clerk will be paid a retainer in the amount of $75,000.

Prime Clerk will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Benjamin J. Steele, a partner at Prime Clerk 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.

Prime Clerk can be reached at:

     Benjamin J. Steele
     PRIME CLERK LLC
     830 3rd Avenue, 9th Floor
     New York, NY 10022
     Tel: (212) 257-5450

              About Purdue Pharma L.P.

Purdue Pharma L.P. and its subsidiaries --
http://www.purduepharma.com/-- develop and provide prescription
medicines and consumer products that meet the evolving needs of
healthcare professionals, patients, consumers and caregivers.

Purdue's subsidiaries include Adlon Therapeutics L.P., focused on
treatment for Attention-Deficit/Hyperactivity Disorder (ADHD) and
related disorders; Avrio Health L.P., a consumer health products
company that champions an improved quality of life for people in
the United States through the reimagining of innovative product
solutions; Imbrium Therapeutics L.P., established to further
advance the emerging portfolio and develop the pipeline in the
areas of CNS, non-opioid pain medicines, and select oncology
through internal research, strategic collaborations and
partnerships; and Greenfield Bioventures L.P., an investment
vehicle focused on value-inflection in early stages of clinical
development.

Opioid makers in the U.S. are facing pressure from a crackdown on
the addictive drug in the wake of the opioid crisis and as state
attorneys general file lawsuits against manufacturers. More than
2,000 states, counties, municipalities and Native American
governments have sued Purdue Pharma and other pharmaceutical
companies for their role in the opioid crisis in the U.S., which
has contributed to the more than 700,000 drug overdose deaths in
the U.S. since 1999.

OxyContin, Purdue Pharma's most prominent pain medication, has been
the target of over 2,600 civil actions pending in various state and
federal courts and other fora across the United States and its
territories.

On Sept. 15 and 16, 2019, Purdue Pharma L.P. and 23 affiliated
debtors each filed a voluntary petition for relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No.
19-23649), after reaching terms of a preliminary agreement for
settling the massive opioid litigation facing the Company.

The Company's consolidated balance sheet at Aug. 31, 2019, showed
$1.972 billion in assets and $562 million in liabilities.

U.S. Bankruptcy Judge Robert Drain, in White Plains, New York, has
been assigned to oversee Purdue's Chapter 11 case.

Davis Polk & Wardwell LLP and Dechert LLP are serving as legal
counsel to Purdue.  PJT Partners is serving as investment banker,
and AlixPartners is serving as financial advisor. Prime Clerk LLC
is the claims agent.

Counsel to the Official Committee of Unsecured Creditors are Akin
Gump Strauss Hauer & Feld LLP and Bayard, P.A.



PURDUE PHARMA: Seeks to Hire Skadden Arps as Special Counsel
------------------------------------------------------------
Purdue Pharma L.P., and its debtor-affiliates seek authority from
the U.S. Bankruptcy Court for the Southern District of New York to
employ Skadden Arps Slate Meagher & Flom LLP, as special counsel to
the Debtor.

Purdue Pharma requires Prime Clerk to:

   (a) represent the Debtors and certain of its subsidiaries in
       connection with federal governmental investigation
       matters, including the ongoing criminal and civil
       investigations being coordinated through various
       components of the DOJ and other federal agencies, as well
       as related settlement negotiations and proceedings;

   (b) represent the Debtors and certain of its subsidiaries in
       connection with state governmental investigation matters,
       including the ongoing criminal and civil investigations
       being coordinated through offices of various states
       attorney general and other state agencies, as well as
       related negotiations and proceedings;

   (c) represent the Debtors and certain subsidiaries in
       connection with pending civil litigation as well as
       litigation that may arise after the date hereof, including
       the Texas Litigation and other Litigation Matters, as well
       as related negotiations and proceedings;

   (d) represent the Debtors and certain subsidiaries in the
       Advice Matters, including providing ongoing regulatory and
       compliance advice; and

   (e) provide other services normally and reasonably associated
       with these types of engagements.

Skadden Arps will be paid at these hourly rates:

     Partners              $1,123 to $1,540
     Associates              $427 to $1,000
     Paralegals               $65 to $464

On April 11, 2019, an initial retainer was paid to Skadden Arps in
the amount of $1,500,000, and on June 27, 2019, an additional
retainer was paid to Skadden Arps in the amount of $1,000,000. The
Retainer is being held in an escrow account, and as of the date of
this Application, the Retainer balance was $2,500,000.

Skadden Arps will also be reimbursed for reasonable out-of-pocket
expenses incurred.

In accordance with Appendix B-Guidelines for Reviewing Applications
for Compensation and Reimbursement of Expenses Filed under 11
U.S.C. Sec. 330 for Attorneys in Larger Chapter 11 Cases, the
following is provided in response to the request for additional
information:

   Question:  Did you agree to any variations from, or
              alternatives to, your standard or customary billing
              arrangements for this engagement?

   Response:  Yes. Skadden Arps and the Debtors agreed to set
              rates for the period January 1, 2018 through
              December 31, 2019 as indicated by the rates
              described herein. Skadden Arps also agreed to
              provide a quick-pay discount and a volume discount
              as applicable. The terms of this agreement expire
              on December 31, 2019, after which time, Skadden
              Arps expects that its standard hourly rate schedule
              for 2020 without modification would apply absent an
              alternative agreement. In addition, charges and
              disbursements are invoiced pursuant to guidelines
              set by the Debtors, subject to certain
              modifications. Application of these guidelines
              generally result in a discount from certain charges
              and disbursements invoiced pursuant to Skadden
              Arps's Policy Statement Concerning Charges and
              Disbursements, which is typically applicable to
              firm engagements.

   Question:  Do any of the professionals included in this
              engagement vary their rate based on the geographic
              location of the bankruptcy case?

   Response:  No.

   Question:  If you represented the client in the 12 months
              prepetition, disclose your billing rates and
              material financial terms for the prepetition
              engagement, including any adjustments during the 12
              months prepetition. If your billing rates and
              material financial terms have changed postpetition,
              explain the difference and the reasons for the
              difference.

   Response:  Since its representation of the Debtors began,
              Skadden Arps has not changed its billing rates or
              material financial terms for the engagement, other
              than (i) regular, annual, Firm-wide adjustments to
              its standard rates and (ii) Skadden Arps's
              agreement to set rates as described above. Skadden
              Arps's rates and the financial terms of the
              engagement have been the same prepetition and
              postpetition, other than that, as noted above,
              Skadden Arps did receive retainers on April 11 and
              June 27, 2019. As noted above, the arrangement
              described above will expire on December 31, 2019,
              after which time, Skadden Arps expects that Skadden
              Arps's standard hourly rate schedule for 2020
              without modification would apply absent an
              alternative agreement.

   Question:  Has your client approved your prospective budget
              and staffing plan, and, if so for what budget
              period?

   Response:  Skadden Arps and the Debtors have discussed Skadden
              Arps's estimated fees and expenses and staffing
              related to these matters. Skadden Arps and the
              Debtors developed a budget and staffing plan for
              2019 and 2020. To the extent these chapter 11 cases
              impact certain of the matters for which Skadden
              Arps is providing services, this budget may be
              amended. In addition, to the extent these chapter
              11 cases extend beyond 2020, the budget and
              staffing.

Patrick Fitzerald, partner of Skadden Arps Slate Meagher & Flom
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 Debtors and their
estates.

Skadden Arps can be reached at:

     Patrick Fitzerald, Esq.
     SKADDEN ARPS SLATE MEAGHER & FLOM LLP
     155 North Wacker Drive
     Chicago, IL 60606-1720
     Tel: (312) 407-0700
     Fax: (312) 407-0411

                     About Purdue Pharma L.P.

Purdue Pharma L.P. and its subsidiaries --
http://www.purduepharma.com/-- develop and provide prescription
medicines and consumer products that meet the evolving needs of
healthcare professionals, patients, consumers and caregivers.

Purdue's subsidiaries include Adlon Therapeutics L.P., focused on
treatment for Attention-Deficit/Hyperactivity Disorder (ADHD) and
related disorders; Avrio Health L.P., a consumer health products
company that champions an improved quality of life for people in
the United States through the reimagining of innovative product
solutions; Imbrium Therapeutics L.P., established to further
advance the emerging portfolio and develop the pipeline in the
areas of CNS, non-opioid pain medicines, and select oncology
through internal research, strategic collaborations and
partnerships; and Greenfield Bioventures L.P., an investment
vehicle focused on value-inflection in early stages of clinical
development.

Opioid makers in the U.S. are facing pressure from a crackdown on
the addictive drug in the wake of the opioid crisis and as state
attorneys general file lawsuits against manufacturers. More than
2,000 states, counties, municipalities and Native American
governments have sued Purdue Pharma and other pharmaceutical
companies for their role in the opioid crisis in the U.S., which
has contributed to the more than 700,000 drug overdose deaths in
the U.S. since 1999.

OxyContin, Purdue Pharma's most prominent pain medication, has been
the target of over 2,600 civil actions pending in various state and
federal courts and other fora across the United States and its
territories.

On Sept. 15 and 16, 2019, Purdue Pharma L.P. and 23 affiliated
debtors each filed a voluntary petition for relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No.
19-23649), after reaching terms of a preliminary agreement for
settling the massive opioid litigation facing the Company.

The Company's consolidated balance sheet at Aug. 31, 2019, showed
$1.972 billion in assets and $562 million in liabilities.

U.S. Bankruptcy Judge Robert Drain, in White Plains, New York, has
been assigned to oversee Purdue's Chapter 11 case.

Davis Polk & Wardwell LLP and Dechert LLP are serving as legal
counsel to Purdue.  PJT Partners is serving as investment banker,
and AlixPartners is serving as financial advisor. Prime Clerk LLC
is the claims agent.

Counsel to the Official Committee of Unsecured Creditors are Akin
Gump Strauss Hauer & Feld LLP and Bayard, P.A.



R3D HOLDINGS: Case Summary & 6 Unsecured Creditors
--------------------------------------------------
Debtor: R3D Holdings, Inc.
           d/b/a Fitness for $10
           d/b/a Get the Edge Professional Fitness Training
        1903 W. Lumsden Road
        Brandon, FL 33511

Business Description: R3D Holdings, Inc. dba Fitness for $10 --
                      https://www.fit410brandon.com -- is a
                      family owned company in the health club
                      business.  Fitness for $10 features 24/7
                      access, state-of-the-art cardio equipment,
                      strength training equipment, functional
                      training equipment, and small group training
                      classes.

Chapter 11 Petition Date: December 11, 2019

Court: U.S. Bankruptcy Court
       Middle District of Florida

Case No.: 19-11676

Debtor's Counsel: Buddy D. Ford, Esq.
                  BUDDY D. FORD, P.A.
                  9301 West Hillsborough Avenue
                  Tampa, FL 33615-3008
                  Tel: (813) 877-4669
                  Email: All@tampaesq.com

Total Assets: $188,472

Total Liabilities: $1,466,273

The petition was signed by Ronald J. Knish, president.

A copy of the petition containing, among other items, a list of the
Debtor's six unsecured creditors is available at PacerMonitor at
https://is.gd/NX0K54 at no extra charge.


RENT RITE: Post-Chapter 11 Sale to Fund Plan Payments
-----------------------------------------------------
Debtor Rent Rite SuperKegs West, Ltd., filed an Amended Plan of
Reorganization that provides that net proceeds from the sale of the
Debtor's business will be used to pay allowed Chapter 11
administrative Claims, allowed secured claims, allowed unsecured
priority claims, and allowed unsecured claims.

The sale period for the sale of its business, as contemplated in
the Amended Plan, will be for six months following entry of the
order confirming the Plan.  The Debtor is negotiating with
prospective business brokers to assist it to sell its ongoing
business. Once chosen, the Debtor will file a motion to employ the
selected broker.  If the Debtor receives an offer to purchase its
Business it will file a motion with the Court and provide notice to
creditors and parties in interest seeking approval of the sale.
Upon closing, the Debtor will|provide a Report of Sale to creditors
and parties in interest. The Debtor will continue to operate its
Business during the six-month sale period.

The Debtor estimates total allowed unsecured claims to be
approximately $2,333,339.79. There is also a potentially dramatic
swing in the unsecured creditor pool depending upon the outcome of
the Connolly Adversary Proceeding and the Appeal.  If successful,
Debtor's unsecured creditor pool could be reduced by as much as
$1.5 million, thereby increasing pro rata distributions to the
holders of other allowed unsecured claims.

The prepetition equity interest(s) in the Debtor will be retained
by the holders upon entry of the Confirmation Order. Thomas S.
Wright and Susan L. Wright hold equitable interests in the Debtor.
Class 4 members shall receive payment under this Plan, on account
of their equitable interests only after all allowed Chapter 11
Administrative Expenses, allowed secured claims, allowed unsecured
priority claims, and allowed general unsecured claims provided for
in this Plan are paid in full.

Thomas S. Wright will remain as president of the Debtor and will
receive a monthly salary of $8,250 during the Sale Period.  Susan
Wright shall remain as head of accounting and will not receive a
salary during the Sale Period or for any time pre-confirmation
subsequent to December 15, 2019.  Mr. Wright will act as agent for
the Debtor to implement and administer the confirmed Plan.  Mr.
Wright will receive no separate or additional compensation for his
services with regard to the implementation and administration of
the Plan.

A red-lined copy of the Amended Disclosure Statement filed Nov. 14,
2019, is available at https://tinyurl.com/t2ux6g3 from
PacerMonitor.com at no charge.

                   About Rent Rite SuperKegs

Headquartered in Denver, Colorado, Rent Rite SuperKegs West Ltd.
leases warehouse space to tenants. It owns a warehouse building
located at 3850 to 3900 E. 48th Ave., Denver, Colo.  

Rent Rite SuperKegs West sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Colo. Case No. 17-21236) on Dec. 11,
2017. Thomas S. Wright, president, signed the petition. The Debtor
first filed for Chapter 11 protection (Bankr. D. Colo. Case No.
12-31592) on Oct. 18, 2012.

At the time of the filing, the Debtor estimated assets and
liabilities of $1 million to $10 million.

Judge Thomas B. McNamara presides over the case. The Debtor hired
Weinman & Associates, P.C., as counsel, and Allen Vellone Wolf
Helfrich & Factor P.C., as special counsel.

The Office of the U.S Trustee appointed an official committee of
unsecured creditors on Feb. 2, 2018. The committee retained Appel,
Lucas & Christensen, P.C., as its legal counsel.


RENTPATH LLC: S&P Lowers ICR to 'CCC-' on Weak Liquidity
--------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on U.S.-based
online apartment listing company RentPath LLC to 'CCC-' from
'CCC+'.

At the same time, S&P lowered its issue-level rating on RentPath's
secured first-lien credit facilities to 'CCC-' from 'B-'. S&P
revised its recovery rating to '3' from '2' to reflect a lower
valuation for the company in the rating agency's simulated default
scenario, and indicating the rating agency's expectation for
meaningful recovery (50%-70%; rounded estimate: 50%) of principal
in the event of a payment default.

S&P also lowered its issue-level rating on RentPath's secured
second-lien term loan facility to 'C' from 'CCC-'. The recovery
rating remains '6', indicating S&P's expectation for negligible
recovery (0%-10%; rounded estimate: 0%)."

The downgrade reflects RentPath's substantial liquidity challenges
over the next 6-12 months.   As of Sept. 30, 2019, RentPath's
liquidity was very thin, comprising $3.2 million cash and $18
million availability under its revolving credit facility. S&P
expects revolver capacity will be limited to $12 million (30% of
its commitments) in comparison with current draw of about $22
million, unless it maintains leverage below 6x, which it believes
is unlikely. Therefore, S&P believes RentPath is vulnerable to a
payment default within the next 6-12 months.

The negative outlook reflects RentPath's near-term liquidity risks.
S&P believes there is a high likelihood of a distressed
restructuring or payment default within the next six months unless
the company receives additional sources of liquidity in a revolving
credit facility covenant amendment allowing for an extension to its
covenant holiday, incremental borrowings, or an equity injection
from its sponsor.

"We could lower our rating on RentPath if the company announces a
bankruptcy filing, debt exchange, or other restructuring
transaction that we view as equivalent to a default," S&P said.

"We could raise the rating on RentPath if it obtains additional
liquidity either through an equity infusion from its financial
sponsors, covenant amendment, or waiver from its banks allowing it
to operate for 12 or more months. For an upgrade, we would also
look for the company to provide a credible plan to refinance its
debt maturing in December 2021," the rating agency said.


REYNOLDS GROUP: S&P Affirms 'B+' ICR on Announced Divestiture
-------------------------------------------------------------
S&P Global Ratings affirmed its 'B+' issuer credit rating on
Reynolds Group Holdings Ltd. (RGHL) following the company's
announcement that it has entered into an agreement to sell its
subsidiary Closure Systems International (CSI) to Cerberus Capital
Management in a transaction valued at approximately $615 million.

The rating affirmation reflects a reassessment of the company's
competitive position given reduced scale following the divestiture
of CSI and recent operating trends, as well as an updated view on
the company's financial policy, and management and governance.

S&P's revised business risk assessment of RGHL reflects the sale of
CSI and recent operating trends.  RGHL's revenues are down about 5%
this year as of the third quarter, resulting from volume declines
in some of its businesses as well as lower pricing. Roughly
one-third of the company's business is contracted with raw material
price pass-throughs, and as raw materials have declined so has
their contractual pricing. The remaining business is subject to
spot pricing, and thus, to retain market share, the company has
engaged in some price concessions. S&P expects revenues to be down
further in the mid-single digits in 2020 as a result of the CSI
divestiture, which will also diminish the scale and product
diversity of RGHL. In addition, higher manufacturing costs and some
operating inefficiencies (particularly with its Evergreen business)
have resulted in a contraction in its adjusted EBITDA margins,
which S&P expects will be about 17% for 2019, compared with 18.1%
in 2018. The company is taking steps to address these issues,
including ongoing investments in automation and supply chain
management, which should support some margin improvement going
forward. As a result, S&P is revising its business risk profile
assessment to satisfactory from strong.

The stable rating outlook on Reynolds Group Holdings Ltd. reflects
S&P's expectation that the company's relatively stable end-market
demand will continue to support good free cash flows, allowing it
to maintain adjusted leverage in the low-6x area. The outlook also
assumes the company will successfully refinance or repay its $3.1
billion (outstanding) senior secured notes due in October 2020.

"We could lower our ratings on Reynolds if the company pursued a
more aggressive financial policy that included large acquisitions
or shareholder distributions, resulting in sustained adjusted debt
to EBITDA of more than 7x. We could also lower the rating if we
believed the company had difficulty completing a successful
refinancing or repayment of its upcoming 2020 secured notes
maturity," S&P said.

"We could raise the rating on RGHL if it were able to improve cash
flows or reduce debt such that we expected adjusted debt to EBITDA
to be sustained at under 5x. This would also require the company to
demonstrate a commitment to a more conservative financial policy to
maintain leverage at such levels through the cycle, inclusive of
future acquisitions," the rating agency said.


ROAD INFRASTRUCTURE: S&P Affirms 'CCC+' Issuer Credit Rating
------------------------------------------------------------
S&P Global Ratings affirmed its 'CCC+' issuer credit rating on Road
Infrastructure Investment Holdings Inc. and revised the outlook to
stable from negative. In addition, S&P affirmed its 'CCC+'
issue-level rating and maintained the '3' recovery rating on the
company's first-lien debt. S&P also affirmed its 'CCC-' issue-level
rating and maintained its '6' recovery rating on the company's
second-lien debt.

The stable outlook reflects S&P's view that a default in the next
12 months is not likely given the company's debt maturity profile,
covenant headroom, sufficient liquidity and improved 2019
performance. The company's nearest maturity is its revolver in June
2021 and S&P expects the company to address the maturity in a
timely manner before it becomes current. In April 2019, the company
amended its credit agreement to increase its revolver size and
loosen its financial covenants, which improved its liquidity.

The stable outlook reflects S&P's expectation for modest
improvement in operating performance over the next 12 months,
though the rating agency still expects leverage metrics to remain
at unsustainable levels. S&P expects the company to maintain
liquidity sources over uses of at least 1.2x, and generate moderate
free cash flow generation over the next 12 months. S&P expects the
company to remain in compliance with its net leverage financial
covenant with sufficient cushion and the rating agency believes the
company will address the revolver maturity before it comes current.
In its base case scenario, S&P expects the company to remain highly
leveraged, with weighted-average debt to EBITDA above 10x
(including the company's payment-in-kind note as debt).

"We could take a negative rating action on Road Infrastructure
within the next 12 months if the company's liquidity weakened such
that liquidity sources over uses fell below 1.2x, or if operating
conditions were to worsen such that free cash flow generation
turned negative. This scenario could be caused by a decline in
state or local budgets or a prolonged supply disruption raising
input costs," S&P said, adding that such a scenario could lead to
material weakness in credit measures and increase the risk of
breaching Road Infrastructure's first-lien net leverage covenant,
which would restrict access to the revolver.

"We could also consider a downgrade if the revolver comes current
and we don't believe the company will take steps to address the
maturity, potentially weakening its liquidity position," the rating
agency said.

S&P could consider a positive rating action over the next 12 months
if adjusted debt to EBITDA improves to below 9x. This could happen
if demand for traffic safety materials significantly exceeds
expectations combined with strong operational performance leading
to EBITDA margin expansion of 300 basis points greater than S&P's
current expectations. These conditions would benefit free cash flow
and improve the company's ability to sustainably pay down debt. The
company could also benefit from new legislation in the U.S. that
increases transportation infrastructure spending. To consider an
upgrade, S&P would also need to believe the company would maintain
financial policies that would sustain its improved leverage
profile.


S & G MACHINE: Has Until Feb. 13, 2020 to Achieve Confirmation
--------------------------------------------------------------
In November 2019, the U.S. Bankruptcy Court for the Northern
District of Alabama, Eastern Division, conducted a hearing to
consider the disclosure statement and Bankruptcy Administrator's
objection to disclosure statement of Debtor S & G Machine, L.L.C.
Judge James J. Robinson ordered that the deadline to achieve
confirmation is extended to Feb. 13, 2020.

                     About S & G Machine LLC

S & G Machine, L.L.C., is a limited liability company operating a
machine shop in Hokes Bluff, Etowah County, Alabama. It owns the
real property and building from which it conducts its operations.
The company was formed in 2001 to take over a machine shop
operation formerly operated individually by John Scott Young. John
Scott Young currently is the sole member, and the managing member,
of S & G. The Company does machining for several customers
including but not limited to The Goodyear Tire & Rubber Company in
Gadsden, Alabama; certain parts manufacturers in the automobile
industry; and the general public.

S & G Machine, LLC, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Ala. Case No. 19-40526) on March 29,
2019. At the time of the filing, the Debtor was estimated to have
assets and liabilities of less than $500,000. Judge James J.
Robinson oversees the case. Robert D. McWhorter, Jr., Esq., at
Inzer, McWhorter, Haney & Skelton, LLC, represents the Debtor.


S&C TEXAS: Unsecureds to Have 50% Recovery in 10 Years
------------------------------------------------------
Debtor S&C Texas Investments, Inc., filed with the U.S. Bankruptcy
Court for the Southern District of Texas, Houston Division, a Third
Amended Disclosure Statement.

B.O.B. Entertainment, Inc. filed a claim for $251,186.04.  Since
there is insufficient security to collateralize this debt, this
claim will be treated as an unsecured claim.  This creditor will
retain its lien against the Debtor's assets until it is paid 30% of
its general unsecured claim.  This will coincide with the required
refinancing of the Radius Bank claim.

D&S Entertainment, LLC has filed a claim for $461,513.64.  Since
there is insufficient security to collateralize this debt, this
claim will be treated as an unsecured claim.  This creditor will
retain its lien against the Debtor's assets until it is paid 30% of
its general unsecured claim.

Don Dean has filed a claim for $1,801,990.40.  Since there is
insufficient security to collateralize this debt, this claim will
be treated as an unsecured claim.  This creditor will retain its
lien against the debtor’s assets until it is paid 30% of its
general unsecured claim.

United States Small Business Administration filed a claim for
$207,816.55.  Since there is insufficient security to collateralize
this debt, this claim will be treated as an unsecured claim. This
creditor will retain its lien against the Debtor's assets until it
is paid 30% of its general unsecured claim.

Seacoast National Bank, assignee of Credibility Capital filed a
claim for $221,810.91.  Since there is insufficient security to
collateralize this debt, this claim will be treated as an unsecured
claim.  This creditor will retain its lien against the debtor’s
assets until it is paid 30% of its general unsecured claim.

General unsecured creditors will be paid 50% of their allowed
claims in pro-rated monthly payments for 10 years with the first
payment being due and payable on the 1st day of the first full
calendar month following 60 days after the effective date of the
plan.

Equity interest holders are parties who hold an ownership interest
(i.e., equity interest) in S&C Texas Investments, Inc.  The
shareholders will not receive any dividends unless and until all
creditors are paid in full pursuant to the Plan.  The shareholders
are contributing new value to the debtor in the amount of $25,000
upon confirmation of this plan.

Payments and distributions under the Plan will be funded by through
future income from the operations of the company. As to a default
under the plan, any creditor remedies allowed by 11 U.S.C. Sec.
1112(b)(4)(N) shall be preserved to the extent otherwise available
at law.

A full-text copy of the amended plan dated Nov. 14, 2019, is
available at https://tinyurl.com/vfr4p4c from PacerMonitor.com at
no charge.

                   About S&C Texas Investments

S&C Texas Investments, Inc., is an amusement park operator and
investor whose current assets include the Sky Zone Westborough and
Sky Zone Wallingford amusement centers.

S&C Texas Investments, based in Cypress, TX, filed a Chapter 11
petition (Bankr. S.D. Tex. Case No. 18-35668) on Oct. 8, 2018. In
the petition signed by Ryan Swift, president, the Debtor disclosed
$857,373 in assets and $8,862,438 in liabilities. The Hon. David R.
Jones oversees the case.  Margaret M. McClure, Esq., at the Law
Offices of Margaret M. McClure, serves as bankruptcy counsel to the
Debtor.

No official committee of unsecured creditors has been appointed in
the Chapter 11 case.


SANCHEZ ENERGY: Epiq Approved as Committee's Information Agent
--------------------------------------------------------------
The Official Committee of Unsecured Creditors appointed in the
Chapter 11 cases of Sanchez Energy Corporation and its affiliated
debtors sought and obtained authority from the U.S. Bankruptcy
Court for the Southern District of Texas to retain Epiq Corporate
Restructuring, LLC, as information agent to the Committee effective
September 24, 2019.

Epiq will render information and noticing services to the
Committee, which is a section 1102(a) committee, thereby enabling
the Committee to comply with its obligations under Bankruptcy Code
section 1102(b)(3).  Section 1103(a) of the Bankruptcy Code
provides that a creditors' committee "may select and authorize the
employment by such committee of one or more attorneys, accountants,
or other agents, to represent or perform services for such
committee."

The retention of Epiq, according to the Committee, will facilitate
the panel in complying with its statutory duties in a more
efficient and cost-effective manner.  Without Epiq's retention, the
Committee's other professionals would be required to perform the
informational and solicitation services required under Section
1102(b)(3).  The Committee believes that Epiq, with its experience
in this area, can provide such services in a more efficient and
cost-effective manner.  Since the functions served by Epiq are
administrative in nature, the Committee believes there will be a
significant cost savings that ultimately inures to the benefit of
the Debtors' estates and their creditors, thereby eliminating the
administrative burden on counsel to the Committee of serving
pleadings filed by the Committee.

Susan Persichilli, a Consultant with Epiq Corporate Restructuring,
attested that Epiq is a disinterested person, within the meaning of
section 101(14) of the Bankruptcy Code, as modified by section
1107(b) of the Bankruptcy Code, in that Epiq (a) holds no interest
adverse to the Debtors, their estates and Committee members and (b)
other than the services currently being provided to the Committee,
Epiq has no connection with the Debtors, the Committee members, the
Debtors' creditors, the U.S. Trustee, or other parties in interest
in these chapter 11 cases.  Moreover, Epiq or its professional
personnel (a) are not creditors, equity security holders, or
insiders of the Debtors, (b) are not and were not, within two (2)
years before the date of the filing of these chapter 11 cases,
directors, officers, or employees of the Debtors, and (c) do not
have an interest materially adverse to the interests of the
Debtors' estates or any class of creditors or equity security
holders, by reason of any direct or indirect relationship to,
connection with, or interest in, the Debtors.

                    About Sanchez Energy Corp.

Sanchez Energy Corporation and its affiliates --
https://sanchezenergycorp.com/ -- are independent exploration and
production companies focused on the acquisition and development of
U.S. onshore oil and natural gas resources.  Sanchez Energy is
currently focused on the development of significant resource
potential from the Eagle Ford Shale in South Texas, and holds other
producing properties and undeveloped acreage, including in the
Tuscaloosa Marine Shale (TMS) in Mississippi and Louisiana.  

As of Dec. 31, 2018, the companies had approximately 325,000 net
acres of oil and natural gas properties with proved reserves of
approximately 380 million barrels of oil equivalent and interests
in approximately 2,400 gross producing wells.

Sanchez Energy and 10 affiliates sought protection under Chapter 11
of the Bankruptcy Code (Bankr. S.D. Texas Lead Case No. 19-34508)
on Aug. 11, 2019.  As of June 30, 2019, the companies disclosed
$2,159,915,332 in assets and $2,854,673,930 in liabilities.   

The cases have been assigned to Judge Marvin Isgur.

The companies tapped Akin Gump Strauss Hauer & Feld LLP and Jackson
Walker L.L.P. as bankruptcy counsel; Moelis & Company LLC as
financial advisor; Alvarez & Marsal North America LLC as
restructuring advisor; and Prime Clerk LLC as notice and claims
agent.

The Office of the U.S. Trustee appointed a committee of unsecured
creditors on Aug. 26, 2019.  The committee tapped Milbank LLP and
Locke Lord LLP as its co-counsel.



SAVE MONEY: Seeks to Hire Smith & Thompson as Special Counsel
-------------------------------------------------------------
Save Money and Retain Temperature, LLC received approval from the
U.S. Bankruptcy Court for the Middle District of Florida to hire
Smith & Thompson, P.A. as its special counsel.

Smith & Thompson, P.A. is to represent the Debtor for its insurance
and bad faith/extra-contractual claims arising from an assigned
insurance claim or subsequent litigation for recovery of claims
benefits.

Thomas W. Thompson, Esq., of Smith & Thompson 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.

The firm can be reached through:

     Thomas W. Thompson, Esq.
     Smith & Thompson, P.A.
     4725 N. Lois Avenue
     Tampa, FL 33614
     Phone: 833-853-3111

                 About Save Money and Retain Temperature

Save Money and Retain Temperature, LLC, is an insulation contractor
in Tampa, Fla., which specializes in roofing, siding and sheet
metal work.

Save Money and Retain Temperature sought protection under Chapter
11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 19-04090) on
April 30, 2019.  At the time of the filing, the Debtor was
estimated to have assets of between $1 million and $10 million and
liabilities of the same range.  Santana, Byrd & Jaap, P.A., is the
Debtor's counsel.


SHAE MANAGEMENT: Seeks to Hire Jones & Walden as Legal Counsel
--------------------------------------------------------------
Shae Management, Inc. seeks authority from the United States
Bankruptcy Court for the Northern District of Georgia (Rome) to
hire Jones & Walden, LLC as its attorney.

Shae requires Jones & Walden to:

     (a) prepare pleadings and applications;

     (b) conduct examination;

     (c) advise the Debtor of its rights, duties and obligations as
a debtor-in-possession;

     (d) consult an d represent the Debtor with respect to a
Chapter 11 plan;

     (e) perform those legal services incidental and necessary to
the day-to-day operations of the Debtor's business, including, but
not limited to, institution and prosecution of necessary legal
proceedings, and general business legal advice and assistance;

     (f) take any and all other action incident to the proper
preservation and administration of the Debtor's estate and
business.

Jones & Walden has stated present fee rates of $200.00 to $375.00
per hour for attorneys and $100.00 per hour for legal assistants.

Cameron M. McCord, Esq., partner in the law firm of Jones & Walden,
LLC, attests that neither he nor the firm has or represent any
interest adverse to the Debtor or the estate.

The firm can be reached through:

     Cameron M. McCord, Esq.
     JONES & WALDEN, LLC
     21 Eighth Street, NE
     Atlanta, GA 30309
     Phone: (404) 564-9300
     Email: cmccord@joneswalden.com

                    About Shae Management, Inc.

Shae Management, Inc. is a property management company in Dalton,
Georgia.

Shae Management, Inc. filed a petition for relief under Chapter 11
of the US Bankruptcy Code (Bankr. N.D. Ga. Case No. 19-42833) on
Dec. 2, 2019. In the petition was signed by Mark A. Dyer,
president, the Debtor estimates $1 million to $10 million in both
assets and liabilities. Cameron M. McCord, Esq. at JONES & WALDEN,
LLC represents the Debtor as counsel.


SJV INC: Acting U.S. Trustee Objects to Disclosure Statement
------------------------------------------------------------
The Acting United States Trustee objects to the Disclosure
Statements describing the Chapter 11 Plans of Liquidation Proposed
by the Debtors Saddy Family, LLC; LASV, LLC and SJV, LLC, and in
support of the Objection, respectfully represents as follows:

  * The Disclosure Statement Liquidation Analysis for Saddy Family,
LLC appears to be incorrect. The Total Liabilities in the analysis
is listed at $3,527,207.83, resulting in $0.00 available for
unsecured claims. However, if each individual secured and priority
liability listed is added together, the amount totals to
$1,989,832.16, resulting in $1,313,377.84 being available for
unsecured claims.

  * The Disclosure Statement Liquidation Analysis for LASV, Inc.
appears to be incorrect. The Total Liabilities in the analysis is
listed at $2,871,186.04, resulting in $0.00 available for unsecured
claims. However, if each individual secured and priority liability
listed is added together, the amount totals to $1,240,711.66. This
amount includes $750,000.00 to Shore Community Bank which, pursuant
to the Disclosure Statement for Saddy Family LLC, is being paid in
total from the assets of Saddy Family, LLC. If this amount is
taking out of the calculation of LASV, Inc.'s secured claims, there
would be $461,015.34 available for unsecured claims.

  * The Disclosure Statement Liquidation Analysis for SJV, Inc.
appears to be incorrect. The Total Liabilities in the analysis is
listed at $2,781,827.60, resulting in $0.00 available for unsecured
claims. However, if each individual secured and priority liability
listed is added together, the amount totals to $865,007.62. This
amount includes $625,000.00 to Shore Community Bank which, as
stated, is being paid in total from the assets of Saddy Family,
LLC. If this amount is taking out of the calculation of SJV, Inc.'s
secured claims, there would be $502,694.38 available for unsecured
claims.

  * Shore Community Bank filed a proof of claim in the amount of
$1,713,961.30 in all three cases. Shore Community Bank appears to
have a security interest in all assets of Saddy Family, LLC, LASV,
Inc, and SJV, Inc. The three Liquidation Analysis should reflect
each Debtors’ portion of the $1,713,961.30 claim. In addition,
each Disclosure Statement should list the percentage of the
unsecured claims that will be paid.

  * It appears there are sufficient assets to pay all secured
creditors in full and no need for the cram downs proposed in the
plans if the assets and liabilities are calculated properly. The
Debtors should explain, in detail, the basis for which each Debtor
is assigned responsibility for each debt, and why it appears that
all of Debtors will be paying the same debt, making it appear that
there are no funds available for unsecured creditors. The U.S.
Trustee submits that if the Debtors' cases were jointly
administered and one plan filed the confusion and complications
would be minimized.

A full-text copy of the objection is available at
https://tinyurl.com/rqym3rc from PacerMonitor.com at no charge.

                          About SJV Inc.

In 1995, SJV, Inc., was formed for the purposes of operating Karma,
a nightclub in Seaside Heights, NJ. In 1997, LASV, Inc., was formed
for the purposes of operating, Bamboo, another associated nightclub
in Seaside Heights, NJ. Saddy Family, LLC was formed as a real
estate holding company for the properties used by SJV and LASV.

SJV Inc. sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. D.N.J. Case No. 19-14220) on Feb. 28, 2019. At the time of
the filing, the Debtor estimated assets of less than $1 million and
liabilities of $1 million to $10 million.  The case is assigned to
Judge Christine M. Gravelle. The Law Office of Eugene D. Roth is
the Debtor's counsel.

SJV Inc. is related to and associated with debtors Saddy Family,
LLC under Case No. 19-14223-KCF and LASV, Inc. under Case No.
19-14218-KCF (the "Associated Debtors").


SOURCE ENERGY: S&P Lowers ICR to 'CCC' on Refinancing Risks
-----------------------------------------------------------
S&P Global Ratings lowered its long-term issuer credit rating on
Calgary-based Source Energy Services Ltd. to 'CCC' from 'B' and its
issue-level rating on Source Energy Services Canada L.P. and Source
Energy Services Canada Holdings Ltd.'s first-lien secured notes to
'CCC+' from 'B+'. The '2' recovery rating on the notes is
unchanged.

The downgrade reflects the material deterioration of Source's
credit profile due to the dramatic softening of industry
fundamentals in the Western Canadian Sedimentary Basin and the
company's weakening financial measures , with minimal cash flow
prospects and elevated leverage through the next two years as the
company's credit facility and secured notes come due in December
2021. Demand for frac sand is highly correlated to hydraulic
fracturing activity by exploration and production (E&P) companies
in the WCSB. The expectation of persistent weakness in Canada's
regional hydrocarbon prices is underpinned by S&P's current
Canadian oil and gas price assumptions. S&P expects WCSB
exploration and development activity will be adversely affected by
the weak pricing fundamentals, which the rating agency assumes will
persist throughout its rating outlook period for Source. The
company substantially relies on frac sand sales and is extremely
vulnerable to ebbs in demand, as seen in 2019. Furthermore, based
on its subdued expectations for operating results over the next two
years, S&P believes Source faces significant refinancing risk on
its 10.5% senior secured first-lien notes due December 2021. With
E&P companies' depressed capital spending levels, fracturing
activity will decline, translating to material declines in revenue
and margin erosion for Source. Source's year-to-date 2019 sand
volumes and realized prices were down 20% and 6%, respectively. S&P
expects 2020 cash flows to weaken further with its expectation of
modestly lower sand volumes and additional pricing decline.

The negative outlook on Source reflects S&P's view that the company
is at risk of failing to honor its financial commitments over the
next 12 months, given its minimal liquidity sources, and faces
elevated refinancing risk on its secured notes due December 2021.
Furthermore, S&P believes there is a heightened risk the company
could enter into a debt restructuring for its notes (which it would
view as tantamount to a default) in the next 12 months, given the
notes' current distressed trading levels.

"We could lower the rating on Source, if the company's current
constrained liquidity and the prevailing weak capital market access
for energy companies prevent it from refinancing the December 2021
notes or if we believe it is likely the company will default,
announce a distressed exchange or restructuring, or miss its
interest payment," S&P said.

"We could raise the rating if the company successfully refinances
its 2021 notes, extends the revolver at reasonable terms, and
strengthens its liquidity position such that sources over uses of
cash is at least 1.2x. This would likely occur if there is a marked
improvement in activity levels in the WCSB, which boosts the demand
for Source's frac sand and materially improves earnings and cash
flows," the rating agency said.


TIAN RECLAMATION: Plan Confirmation Hearing Reset to Dec. 19
------------------------------------------------------------
A hearing to consider confirmation of the Amended Plan of debtor
Tian Reclamation & Contracting, Inc., has been rescheduled for Dec.
19, 2019, at 1:30 p.m.  Upon consideration of the request of
counsel for the Debtor to continue the hearing due to his
unavailability, the court finds good cause exists to grant the
request.

Under the Amended Plan, general unsecured creditors owed $591,469
will be paid 5 percent of the amount of their claims pro rata
commencing on Aug. 1, 2024, in 4 equal monthly installments of
$7,393.  A copy of the Amended Plan is available at
https://is.gd/iz5VXV from PacerMonitor.com free of charge.

            About Tian Reclamation & Contracting

Based in Gauley Bridge, West Virginia, Tian Reclamation &
Contracting, Inc., is in the business of owning and operating rock
crushing equipment ancillary to the mining industry.   The business
is owned by sole owner Tim Hannigan.

Tian Reclamation & Contracting, Inc., filed for Chapter 11
bankruptcy protection (Bankr. S.D.W.V. Case No. 15-20602) on Nov.
23, 2015. In the petition signed by Timothy Hannigan, president,
the Debtor listed its total assets at $2.97 million and total
liabilities at $3.23 million. Pierson Legal Services is the
Debtor's bankruptcy counsel.


TIGER OAK: Committee Seeks to Hire Bassford Remele as Counsel
-------------------------------------------------------------
The Official Committee of Unsecured Creditors of Tiger Oak Media,
Incorporated, seeks authorization from the U.S. Bankruptcy Court
for the District of Minnesota to retain Bassford Remele, P.A., as
counsel to the Committee.

The Committee requires Bassford Remele to

   a) advise the Committee with respect to its rights, duties,
      and powers in the Chapter 11 case;

   b) assist and advise the Committee in its consultations with
      the Debtor relative to the administration of the Chapter
      11 case;

   c) assist the Committee in analyzing the claims of the
      Debtor's creditors and the Debtor's capital structure and
      in negotiating with holders of claims and equity
      interests;

   d) assist the Committee in its investigation of the acts,
      conduct, assets, liabilities, and financial condition of
      the Debtor and of the operation of the Debtor's business;

   e) assist the Committee in its investigation of the liens and
      claims of the holders of the Debtor's prepetition debt and
      the prosecution of any claims or causes of action revealed
      by such investigation;

   f) assist the Committee in its analysis of, and negotiations
      with, the Debtor or any third party concerning matters
      related to, among other things, the assumption or rejection
      of certain leases of nonresidential real property and
      executor contracts, asset dispositions, sale of assets,
      financing of other transactions and the terms of one or
      more plans of reorganization for the Debtor and
      accompanying disclosure statements and related plan
      documents;

   g) assist and advise the Committee as to its communications to
      unsecured creditors regarding significant matters in these
      Chapter 11cases;

   h) represent the Committee at hearings and other proceedings;

   i) review and analyze applications, orders, statements of
      operations, and schedules filed with the Court and advise
      the Committee as to their propriety;

   j) assist the Committee in preparing pleadings and
      applications as may be necessary in furtherance of the
      Committee's interests and objectives;

   k) prepare, on behalf of the Committee, any pleadings,
      including without limitation, motions, memoranda,
      complaints, adversary complaints, objections, or
      comments in connection with any of the foregoing; and

   l) perform such other legal services as may be required or are
      otherwise deemed to be in the interests of the Committee in
      accordance with the Committee's powers and duties as set
      forth in the Bankruptcy Code, Bankruptcy Rules, or other
      applicable law.

Bassford Remele will be paid at these hourly rates:

    Partners              $400
    Associates            $325
    Paralegals            $175

Bassford Remele will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Jeffrey D. Klobucar, partner of Bassford Remele, 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 (a) is not
creditors, equity security holders or insiders of the Debtors; (b)
has not been, within two years before the date of the filing of the
Debtors' chapter 11 petition, directors, officers or employees of
the Debtors; and (c) does not have an interest materially adverse
to the interest of the estate or of any class of creditors or
equity security holders, by reason of any direct or indirect
relationship to, connection with, or interest in, the Debtors, or
for any other reason.

Bassford Remele can be reached at:

    Jeffrey D. Klobucar, Esq.
    BASSFORD REMELE, P.A.
    100 South Fifth Street, Suite 1500
    Minneapolis, MN 55402
    Telephone: (612) 333-3000
    Facsimile: (612) 333-8829
    E-mail: jklobucar@bassford.com

              About Tiger Oak Media, Incorporated

Tiger Oak Media, Incorporated, is a regional and national publisher
of books, magazines, media and events that appeal to targeted
audiences. Tiger Oak Media sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. D. Minn. Case No. 19-43029) on Oct. 7,
2019. In the petition signed by its chief executive officer, Craig
Bednar, the Debtor was estimated to have assets of less than
$50,000 and liabilities of less than $10 million.

The Hon. Michael E. Ridgway is the case judge.

The Debtor tapped Steven Nosek, Esq., and Yvonne Doose, Esq., as
bankruptcy attorneys; Lurie, LLP as accountant; and Integrated
Consulting Services, LLC as financial consultant.

The U.S. Trustee for Region 12 appointed creditors to serve on the
official committee of unsecured creditors on Oct. 22, 2019. The
committee tapped Bassford Remele, P.A. as its legal counsel, and
Platinum Management, LLC as its financial advisor.



TIGER OAK: Seeks to Hire Lurie LLP as Accountant
------------------------------------------------
Tiger Oak Media, Incorporated, seeks authority from the U.S.
Bankruptcy Court for the District of Minnesota to employ Lurie,
LLP, as accountant to the Debtor.

Tiger Oak requires Lurie, LLP to provide accounting assistance to
the Debtor and prepare the Debtor's taxes and quarterly estimates.

Lurie, LLP will be paid at these hourly rates:

     Kevin Besikof              $450
     Spencer Chinelli           $244
     Tara McElroy               $167

Lurie, LLP holds a pre-bankruptcy claim against the Debtor in the
amount of $18,375. Lurie, LLP has agreed to waive this
pre-bankruptcy claim and therefore will hold no interest which is
adverse to the Debtor or the Debtor's estate.

Lurie, LLP will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Kevin Besikof, partner of Lurie, 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.

Lurie, LLP can be reached at:

     Kevin Besikof
     Lurie, LLP
     2501 S. Wayzata Blvd.
     Minneapolis, MN 55405
     Tel: (612) 377-4404

              About Tiger Oak Media, Incorporated

Tiger Oak Media, Incorporated, is a regional and national publisher
of books, magazines, media and events that appeal to targeted
audiences. Tiger Oak Media sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. D. Minn. Case No. 19-43029) on Oct. 7,
2019. In the petition signed by its chief executive officer, Craig
Bednar, the Debtor was estimated to have assets of less than
$50,000 and liabilities of less than $10 million.

The Hon. Michael E. Ridgway is the case judge.

The Debtor tapped Steven Nosek, Esq., and Yvonne Doose, Esq., as
bankruptcy attorneys; Lurie, LLP as accountant; and Integrated
Consulting Services, LLC as financial consultant.

The U.S. Trustee for Region 12 appointed creditors to serve on the
official committee of unsecured creditors on Oct. 22, 2019. The
committee tapped Bassford Remele, P.A. as its legal counsel, and
Platinum Management, LLC as its financial advisor.



TRIAX CAPITAL: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: Triax Capital Advisors LLC
        22 Harvest Drive
        Scarsdale, NY 10583

Business Description: Triax Capital Advisors, based in New York,
                      is an investment advisory firm with years of
                      experience in restructurings, turnarounds,
                      recapitalizations investing.

Chapter 11 Petition Date: December 11, 2019

Court: U.S. Bankruptcy Court
       Southern District of New York

Case No.: 19-24145

Judge: Hon. Robert D. Drain

Debtor's Counsel: Erica Aisner, Esq.
                  KIRBY AISNER & CURLEY LLP
                  700 Post Road Suite 237
                  Scarsdale, NY 10583
                  Tel: (914) 401-9500
                  E-mail: eaisner@kacllp.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Joseph Sarachek, managing member.

The Debtor did not file list of its 20 largest unsecured creditors
together with the petition.

A copy of the petition is available at PacerMonitor at
https://is.gd/paBt9c at no extra charge.


TROIANO TRUCKING: Trustee Taps HubCFO as Restructuring Consultant
-----------------------------------------------------------------
Steven Weiss, the Chapter 11 Trustee of Troiano Trucking, Inc., and
its debtor-affiliates, seeks authority from the U.S. Bankruptcy
Court for the District of Massachusetts to employ HubCFO, LLC, as
restructuring consultant to the Trustee.

The Trustee requires HubCFO to:

   -- provide advice on operational and managerial efficiency;

   -- improve the Debtors' accounting practices;

   -- prepare financial reports and projections; and

   -- provide financial support to assist the Debtors in the
      reorganization efforts.

HubCFO 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.

John Anderson of HubCFO, LLC, disclosed in court filings that the
firm is "disinterested" within the meaning of Section 101(14) of
the Bankruptcy Code.

The consultant can be reached at:

     John Anderson
     HubCFO, LLC
     607 Boylston Street, Suite 392 LL
     Boston, MA 02116
     Phone: (617) 499-6900
     Fax: (617) 499-6900

                   About Troiano Trucking

Troiano Trucking, Inc. -- http://www.troianotrucking.com/-- is a
privately held company in Grafton, Mass., in the waste hauling
business. The company maintains a fleet of four trucks, which
allows it to service its customers with removal of bakery waste,
rubbish, demolition materials and recyclables. It serves
construction companies, roofing companies, bakeries and individual
home owners.

Troiano Realty, LLC, is a real estate lessor whose principal assets
are located at 109 Creeper Hill Road, North Grafton, Mass. The
property is valued at $1.48 million based on tax valuation
assessment method.

Troiano Trucking and Troiano Realty sought protection under Chapter
11 of the Bankruptcy Code (Bankr. D. Mass. Lead Case No. 19-40656)
on April 23, 2019. At the time of the filing, Troiano Trucking was
estimated to have assets and liabilities of between $1 million and
$10 million.  Troiano Realty disclosed $1,485,000 in assets and
$4,220,210 in liabilities.


VIA AIRLINES: U.S. Trustee Unable to Appoint Committee
------------------------------------------------------
No official committee of unsecured creditors has been appointed in
the Chapter 11 case of Via Airlines, Inc. as of Dec. 9, 2019,
according to the case docket.
    
                        About Via Airlines

Via Airlines, Inc., is a United States domestic regional airline
offering scheduled service across the United States.

Via Airlines sought Chapter 11 protection (Bankr. M.D. Fla. Case
No. 19-06589) on Oct. 8, 2019.  The Debtor was estimated to have
$10 million to $50 million in assets and liabilities as of the
bankruptcy filing.  Latham, Luna, Eden & Beaudine, LLP, is the
Debtor's counsel.


WALKER COUNTY HOSPITAL: Seeks to Hire Healthcare Management
-----------------------------------------------------------
Walker County Hospital Corporation seeks approval from the U.S.
Bankruptcy Court for the Southern District of Texas to hire
Healthcare Management Partners, LLC to provide the Debtor with a
chief executive officer and certain additional personnel.

The Debtor has selected Healthcare Management and Steven L. Smith
as their restructuring advisors and CEO because of their diverse
experience and expertise in restructuring and healthcare.

As set forth in the CEO Engagement Letter, Healthcare Management
will continue to provide the following services:

     a) Officers. Mr. Smith, a Managing Director of Healthcare
Management, will serve as the CEO of the Debtor. The CEO shall be
an officer of the Debtor.

     b) Duties. Subject to the oversight of the Debtor's Board of
Directors, the CEO shall have full and exclusive legal, corporate
and executive decision making authority and responsibility for the
Debtor. The CEO and any additional officers shall perform and be
responsible for all ongoing duties normally associated with such
officers. The Board will retain full legal responsibility for the
effective and efficient management and governance of the Debtor.

     c) Project Administration. Healthcare Management shall provide
general administration (but not supervision, which shall be the
responsibility of the Board) of the CEO, including having a
Managing Director from Healthcare Management available to consult
with the Chairman of the Board.

     d) Additional Responsibilities. Upon the written mutual
agreement of the Debtor and Healthcare Management, Healthcare
Management may provide such additional personnel as the Debtor may
request to assist in performing such other services as may be
agreed to, on such terms and conditions and for such compensation
as the Debtor and Healthcare Management agree in writing.   

As set forth in the FA Engagement Letter, Healthcare Management
will continue to provide the following services:

     a) Staffing. Scott Phillips, Managing Director of Healthcare
Management, shall be principally responsible for this engagement
and for the provision of FA Services. Other Healthcare Management
or partner firm personnel may be used as  necessary and agreed to
for the effective provision of the services contemplated by the
agreement.

     b) Advisory Services. As Financial Advisor to the Debtor,
Healthcare Management shall:

        (i) perform a review of Debtor information, including
hospital historical audited and internal financial statements,
budgets and forecasts, operating reports, Board materials, and
auditors' management letters;

       (ii) prepare required financial reports and analyses for the
Board, creditors and other stakeholders;

      (iii) assist the Debtor in the development of financial
strategies with respect to the restructuring, reorganization or
sale of the Debtor or other strategic alternatives with respect to
the Debtor;

       (iv) assist the Debtor in reviewing and analyzing proposals
for the restructuring, reorganization or sale of the Debtor; and

        (v) perform such other financial advisory services as may
reasonably be requested by the Debtor and the Board.

     c) Additional Responsibilities. Upon the written mutual
agreement of the Debtor and Healthcare Management, Healthcare
Management may provide such additional personnel as the Debtor may
request to assist in performing the services described above and
such other services as may be agreed to, on such terms and
conditions and for such compensation as the Debtor and Healthcare
Management agree in writing.

Healthcare Management will be paid as follows:

      Managing Director  $550
      Director           $420
      Senior Associate   $340
      Associate          $240
      Data Analyst       $185

Healthcare Management received $410,000 as a retainer.

Mr. Smith, a Managing Director of Healthcare Management, attests
that his firm is a "disinterested person" within the meaning of
Bankruptcy Code section 101(14), does not hold or represent an
interest adverse to the Debtor's estate, and has no connection to
the Debtor, their creditors in relation to the Debtor, or other
parties in interest in the Chapter 11 Case.

The firm can be reached through:

     Steven L. Smith
     Healthcare Management Partners, LLC
     1033 Demonbreum St #300
     Nashville, TN 37203
     Phone: +1 615-601-2109

                   About Walker County Hospital Corp.

Walker County Hospital Corporation --
https://www.huntsvillememorial.com/ -- operates a community
hospital in Huntsville, Texas.  It is the sole member of its
non-debtor affiliate, HMH Physician Organization.  Founded in
1927,
the facility provides health care services to the residents of
Walker County and its surrounding communities.

Walker County Hospital sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Texas Case No. 19-36300) on Nov. 11,
2019.  At the time of the filing, the Debtor disclosed assets of
between $10 million and $50 million and liabilities of the same
range.

The case is assigned to Judge David R. Jones.  

The Debtor tapped Waller Lansden Dortch & Davis, LLP and Morgan,
Lewis & Bockius LLP as bankruptcy counsel; Healthcare Management
Partners, LLC as financial and restructuring advisor; and Epiq
Corporate Restructuring, LLC as claims and noticing agent.


WALL STREET: Seeks to Hire Gudeman & Associates as Counsel
----------------------------------------------------------
Wall Street Productions, Ltd., seeks authority from the U.S.
Bankruptcy Court for the Eastern District of Michigan to employ
Gudeman & Associates, P.C., as counsel to the Debtor.

The firm will advise the Debtor regarding its duties under the
Bankruptcy Code and will provide other legal services related to
its Chapter 11 case.

Gudeman & Associates charges these hourly fees:

     Edward Gudeman     Attorney            $400
     Brian Rookard      Attorney            $300
     Ashton Briggs      Legal Assistant     $125
     Rachel Tanner      Legal Assistant     $125
     Kelly Darr         Legal Assistant     $125

The Debtor has paid compensation which includes $5,000 as a
retainer and the filing fee of $1,717, for a total of $6,717.00.
The Debtor has also agreed to pay $5,000 monthly to escrow. Prior
to filing, the Debtor incurred approximately $5,000 of pre-filing
legal fees.
s
Edward Gudeman, Esq., at Gudeman & Associates, 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:

     Edward J. Gudeman, Esq.
     Brian A. Rookard, Esq.
     Gudeman and Associates, P.C.
     1026 West 11 Mile Road
     Royal Oak, MI 48067
     Tel: 248) 546-2800
     E-mail: ejgudeman@gudemanlaw.com

              About Wall Street Productions, Ltd.

Wall Street Productions, LTD, d/b/a Wall Street Music; d/b/a Wall
Street Productions; d/b/a Museum Magic, is a promotional video
production specialist in Southfield, Michigan.

Wall Street Productions sought Chapter 11 protection (Bankr. E.D.
Mich. Case No. 19-53212) on Sept. 16, 2019, in Detroit, Michigan.
In the petition signed by Timothy Rochon, president, the Debtor
disclosed $64,442 in total assets and $1,015,719 in total
liabilities as of the Petition Date. The petition was signed by
Timothy Rochon, president. The case is assigned to Judge Phillip J
Shefferly. GUDEMAN & ASSOCIATES, P.C., is the Debtor's counsel.



WHEATON MEDICAL: May Continue Using Cash Collateral Until Dec. 30
-----------------------------------------------------------------
Judge Donald R. Cassling of the U.S. Bankruptcy Court for the
Northern District of Illinois signed a fifth order authorizing
Wheaton Medical, S.C., to use cash collateral for the period from
Nov. 29, 2019 through Dec. 30, 2019 to the extent set forth in the
budget, plus an allowed 10% variance.  

As adequate protection, Capital Merchants, LLC; On Deck Capital,
Inc.; dba Fundkite (AKF); Chrome Capital and EBF Partners, LLC, dba
Everest Business Funding; and The Huntington National Bank are
granted the following:

   (a) The Debtor will permit Secured Creditors to inspect the
Debtor's books and records;
  
   (b) The Debtor will maintain and pay premiums for insurance to
cover the collateral from fire, theft and water damage;

   (c) The Debtor will make available to Secured Creditors,
evidence of that which constitutes their collateral or proceeds;

   (d) The Debtor will properly maintain the collateral in good
repair and properly manage the collateral;

   (e) Without prejudice to Huntington National's rights to
adequate protection for its lien or set-off rights, the Debtor will
(i) transfer, when practicable, the majority of the funds in the
checking account to a DIP account with an authorized financial
institution (leaving a mutually agreed balance in the account to
cover 130% of all issued and outstanding checks); and (ii) will
inform Huntington of any unclear checks, their check numbers,
amounts and payees;

   (f) The Secured Creditors are granted replacement liens,
attaching to the collateral, but only to the extent of their
pre-petition liens and attaching to the same assets of the Debtor
in which the Secured Creditors asserted pre-petition liens;

   (g) The Debtor will file a Budget to Actual Report for each week
of the Budget; and

   (h) The Debtor will continue to pay, on a monthly basis, AKF
$5,000 and Everest $2,500, as adequate protection payments.

A final hearing on the Cash Collateral Motion is set for Dec. 23,
2019 at 10:00 a.m.  Objections must be filed no later than 12 p.m.
on Dec. 27.  

                    About Wheaton Medical

Wheaton Medical, S.C., is a medical group offering non-surgical,
non-invasive treatment for chronic and severe back pain.

Wheaton Medical sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Ill. Case No. 19-17922) on June 24,
2019.  At the time of the filing, the Debtor was estimated to have
assets of less than $50,000 and liabilities of between $1 million
and $10 million.  The case is assigned to Judge Donald R. Cassling.
Lynch Law Offices, P.C., is the Debtor's bankruptcy counsel.



WYNTHROP PARTNERS: Jan. 7, 2020 Disclosure Statement Hearing Set
----------------------------------------------------------------
On November 13, 2019, Brent C. Diefenderfer filed with the U.S.
Bankruptcy Court for the Middle District of Pennsylvania a
disclosure statement and plan for Debtor Wynthrop Partners, LP.

Judge Henry W. Van Eck ordered that:

  * Jan. 7, 2020, at 09:30 a.m. is the hearing to consider approval
of the disclosure statement shall be held at Ronald Reagan Federal
Building, Bankruptcy Courtroom (3rd Floor), Third & Walnut Streets,
Harrisburg, PA 17101.

  * Dec. 19, 2019, is fixed as the last day for filing and serving
in accordance with Federal Rules of Bankruptcy Procedure 3017(a)
written objections to the disclosure statement.

                  About Wynthrop Partners LP

Wynthrop Partners, LP, is a single asset real estate debtor (as
defined in 11 U.S.C. Section 101(51B)). It owns three real estate
properties located in Windsor Borough, Pennsylvania, having a total
current value of $2.25 million.

Wynthrop Partners sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. M.D. Pa. Case No. 19-00197) on January 17,
2019. At the time of the filing, the Debtor disclosed $2,345,811 in
assets and $640,696 in liabilities. The case is assigned to Judge
Henry W. Van Eck. The Debtor tapped CGA Law Firm as its legal
counsel.


YELLOW PAGES: S&P Alters Outlook to Positive, Affirms 'B-' ICR
--------------------------------------------------------------
S&P Global Ratings revised its outlook on Montreal-based digital
marketing solutions provider Yellow Pages Ltd. to positive from
stable, and affirmed its 'B-' issuer credit rating on the company.

At the same time, S&P raised its issue-level rating on the
company's 8% senior subordinated debentures to 'B' from 'B-' and
revised the recovery rating on the debt to '2' from '3'. The '2'
recovery rating indicates S&P's expectation of substantial
(70%-80%; rounded estimate: 85%) recovery in a default scenario.

The positive outlook reflects Yellow Pages reduced financial risk
following a sizable permanent debt reduction. On Dec. 2, 2019,
Yellow Pages fully repaid its C$79.5 million senior secured notes
outstanding as of Sept. 30, 2019, from internally generated cash
flow. With this payment, Yellow Pages has reduced its debt balance
by about C$167 million in fiscal 2019 alone. Given the significant
repayment, the company's total debt balances are lower than S&P had
previously anticipated. As a result, the rating agency now expects
the company to exit 2019 with its adjusted debt-to-EBITDA ratio
close to 2x, which is a 0.5x improvement from its previous
expectations. S&P forecasts leverage to weaken to about 2.7x in
fiscal 2020, reflecting lower EBITDA owing to ongoing revenue
erosion. S&P's rating captures the risk of large volatility in
credit measures given difficult market conditions for legacy print
and digital marketing companies such as Yellow Pages. Nevertheless,
S&P still expects Yellow Pages to generate about C$80 million-C$90
million in free cash flow over the next 12 months given its
capital-lite model and strong focus on keeping operating costs low.
S&P's ratings assume that management is committed to preserving
cash to repay its outstanding 8% senior subordinated debentures on
or before their Nov. 30, 2022, maturity."

The positive outlook reflects Yellow Pages' improved financial
flexibility, which should allow the company to focus on containing
customer attrition and address declining revenue.

"We could raise the rating over the next 12 months if the company
demonstrates improved business fundamentals through sequentially
improving customer counts, which would support a sustainable
revenue turnaround while protecting its profitability. In addition,
we would expect Yellow Pages to continue to build cash and remain
committed to the repayment of its senior debentures on or before
Nov. 30, 2022," S&P said.

"We could revise the outlook to stable over the next 12 months if
adjusted leverage weakens to above 3x. This situation could occur
if declines in digital revenue accelerate (from the current 17%
area), reflecting poor execution on Yellow Pages' growth strategy,
contribute to significant declines in EBITDA and free cash flow,"
the rating agency said.


[^] BOOK REVIEW: BOARD GAMES - Changing Shape of Corporate Power
----------------------------------------------------------------
Authors:    Arthur Fleischer, Jr.,
            Geoffrey C. Hazard, Jr., and
            Miriam Z. Klipper
Publisher:  Beard Books
Softcover:  248 pages
List Price: $34.95

Order your personal copy today at
http://www.amazon.com/exec/obidos/ASIN/1587981629/internetbankrupt


A ruling by the Delaware Supreme Court on January 29, 1985 was a
wake-up call to directors of U. S. corporations. On this date,
overruling a lower court decision, the Delaware Supreme Court ruled
that the nine board members of Chicago company Trans Union
Corporation were "guilty of breaching their duty to the company's
shareholders." What the board members had done was agree to sell
Trans Union without a satisfactory review of its value. The guilty
board members were ordered by the Court to pay "the difference
between the per share selling price and the 'real' market value of
the company's shares."

Needless to say, the nine Trans Union directors were shocked at the
guilt verdict and the punishment. The chairman of the board, Jerome
Van Gorkom, was a lawyer and a CPA who was also a board member of
other large, respected corporations. For the most part, it was he
who had put together the terms of the potential sale, including
setting value of the company's stock at $55.00 even though it was
trading at about $38.00 per share. News of the possible sale
immediately drove the stock up to $51.50 per share, and was
commented on favorably in a "New York Times" business article.
Still, Van Gorkom and the other directors were found guilty of
breaching their duty, and ordered by Delaware's highest court to
pay a sum to injured parties that would be financially ruinous.
This was clearly more than board members of the Trans Union
Corporation or any other corporation had ever bargained for. It was
more than board members had ever conceived was possible without
evidence of fraud or graft.

The three authors are all attorneys who have worked at the highest
levels of the legal field, business, and government. Fleischer is
the senior partner of the law firm Fried, Frank, Harris, Schriver &
Jacobson at the head of its mergers and acquisitions department.
He's also the author of the textbook "Takeover Defenses" which is
in its 6th edition. Hazard is a Professor of Law and former
reporter for the American Bar Association's special committee on
the lawyers' ethics code; while Klipper has been a New York
assistant district attorney prosecuting corporate and financial
fraud, and also a corporate attorney on Wall Street. Using the
Trans Union Corporation case as a watershed event for members of
boards of directors, the highly-experienced legal professionals lay
out the new ground rules for board members. In laying out the
circumstances and facts of a number of cases; keen, concise
analyses of these; and finding where and how board members went
wrong, the authors provide guidance for corporate directors, top
executives, and corporate and private business attorneys on issues,
processes, and decisions of critical importance to them.

Household International, Union Carbide, Gelco Corp., Revlon, SCM,
and Freuhauf are other major corporations whose
merger-and-acquisitions activities resulted in court cases that the
authors study to the benefit of readers. The Boards of Directors of
these as well as Trans Union and their positions with other
companies are listed in the appendix. Many other corporations and
their board members are also referred to in the text.

With respect to each of the cases it deals with, BOARD GAMES
outlines the business environment, identifies important
individuals, analyzes decisions, and discusses considerations
regarding laws, government regulations, and corporate practice. In
all of this, however, given the exceptional legal background of the
three authors, the book recurringly brings into the picture the
legalities applying to the activities and decisions of board
members and in many instances, court rulings on these. Passages
from court transcripts are occasionally recorded and commented on.
Elsewhere, legal terms and concepts -- e. g., "gross nonattendance"
-- are defined as much as they can be. In one place, the authors
discuss six levels of responsibility for board members from "assure
proper result" through negligence up to fraud. Without being overly
technical, the authors' legal experience and guidance is
continually in the forefront. Needless to say, with this, BOARD
GAMES is a work of importance to board members and others with the
responsibility of overseeing and running corporations in the
present-day, post-Enron business environment where shareholders and
government officials are scrutinizing their behavior and
decisions.



                            *********

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 2019.  All rights reserved.  ISSN: 1520-9474.

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