/raid1/www/Hosts/bankrupt/TCR_Public/200109.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Thursday, January 9, 2020, Vol. 24, No. 8

                            Headlines

10827 STUDEBAKER: Cash Collateral Use Through Feb. 29 Approved
10827 STUDEBAKER: Judge Extends Exclusivity Period Until Feb. 17
160 ROYAL PALM: Claims to Be Paid From Liquidation
900 CESAR CHAVEZ: Seeks to Hire Lain Faulkner as Accountant
ABA THERAPY: Case Summary & 16 Unsecured Creditors

ABC SOUTH: Unsecureds to Get 100% With 3% Interest in 1 Year
AI CAUSA LLC: Exclusivity Period Extended Until March 27
AK BUILDERS & COATINGS: Hires Michael M. Noble as Counsel
ALLERGAN INC: Egan-Jones Lowers Sr. Unsec. Ratings to BB-
ALLIANCE DATA: Egan-Jones Lowers Senior Unsecured Ratings to BB-

ASHLAND LLC: Moody's Rates New $850MM Secured Loans 'Ba1'
BARNEYS NEW YORK: No Cash Recovery, Only Releases for Unsecureds
BLUCORA INC: Moody's Affirms B1 Corp. Family Rating, Outlook Stable
BODY RENEW: Seeks Court Approval to Hire Accountant
BODY RENEW: Seeks to Hire Williams Mullen as Special Counsel

BORDEN DAIRY: From World's Largest to Chapter 11 Bankruptcy
BORDEN DAIRY: Seeks to Pay $25 Million Owed to Milk Vendors
C LUGRAND-DAWKINS: Seeks to Hire Newark Firm as Counsel
CASTLE US: Moody's Assigns B2 Corp. Family Rating, Outlook Stable
CBL & ASSOCIATES: Fitch Corrects Dec. 17 Ratings Release

CENTER CITY: SSG Advises St. Christopher's Hospital in Sale
CHICKENONTHE RUN: Unsecureds to Get 30% of Claims in Plan
COPACABANA PROPERTIES: Case Summary & 2 Unsecured Creditors
COUNTRYSIDE PROPERTY: Has Until Feb. 24 to Exclusively File Plan
CTI INDUSTRIES: Receives Noncompliance Notice from Nasdaq

CVR ENERGY: Fitch Assigns 'BB-' LongTerm IDR, Outlook Stable
CVR ENERGY: Moody's Assigns Ba3 Corp. Family Rating, Outlook Stable
DATUM TECHNOLOGIES: Cash Collateral Use Approved on Final Basis
DEAN FOODS: Committee Seeks to Hire Akin Gump as Legal Counsel
DIOCESE OF WINONA: Taps Insurance Archaeology as Insurance Agent

EDUCATION CORP. OF AMERICA: Creditors File Involuntary Petition
FIZZICS GROUP: Unsec. Creditors to Recover 10% to 16% in Plan
FSB REALTY: Case Summary & 2 Unsecured Creditors
GEOPARK LIMITED: Fitch Rates New $350MM Notes Due 2027 'B+'
HADDINGTON FUND: Hires Jones Allen as Special Counsel

HAMLETT ENTERPRISES: Unsecureds to Recover 25% in 5-Year Plan
HELMET CENTER: Allowed to Use Cash Collateral on Interim Basis
HIGHLAND CAPITAL: Hires Foley & Lardner as Special Texas Counsel
HIGHLAND SALON: Unsec. Creditors to Get 100% in Sale Plan
HUNT OIL: Moody's Lowers LongTerm Issuer Rating to B2

HVI CAT CANYON: Committee Hires Dore Rothberg as Counsel
INSPIREMD INC: Expects Fourth Quarter Revenue of $1 Million
INSPIREMD INC: Sabby Volatility Has 9.9% Stake as of Dec. 31
JM GRAIN: Exclusivity Period Extended to Jan. 21
JOSEPH'S TRANSPORTATION: Unsecureds Get One-Time Payout of 5%

KEY ENERGY: Egan-Jones Lowers Senior Unsecured Ratings to C
KIMBLE DEVELOPMENT: Voluntary Chapter 11 Case Summary
LASALLE GROUP: Auction of Facilities to Fund Plan Payments
LEMKCO FLORIDA: Competing Plans Set for Feb. 10 Hearing
LEVEL HOME: Unsec. Creditors to Get 100% in 120 Months

LITESTREAM HOLDINGS: Hires Furr & Cohen as Attorney
LITTLE YORK: Seeks to Hire Strong Law as Special Counsel
LUNA DEVELOPMENTS: Exclusivity Period Extended to Jan. 24
M/I HOMES: Fitch Assigns 'BB-' Rating to $350MM Sr. Notes Due 2028
M/I HOMES: Moody's Rates New $350MM Unsec. Notes Due 2028 'B1'

MAINEGENERAL MEDICAL: Moody's Affirms Ba3 Rating on $279MM Bond
MAVERICK PURCHASER: Moody's Assigns 'B2' CFR, Outlook Stable
MCBB CORP: Seeks to Hire Wauson Probusas as Legal Counsel
MCDERMOTT INT'L: Egan-Jones Lowers Sr. Unsec. Ratings to CC
MECHANICAL TECHNOLOGIES: Hires Robison Sharp as Special Counsel

NAUGHTON PLUMBING: Seeks to Extend Exclusivity Period to March 6
NEOVASC INC: Closes $10 Million Registered Direct Offering
PIER 1 IMPORTS: Incurs $58.9 Million Net Loss in Third Quarter
PIER 1 IMPORTS: Posts $59 Million Net Loss in 2019 Q3
PIER 1 IMPORTS: To Shutter Up to 450 Locations

POLYONE CORP: Egan-Jones Lowers Sr. Unsec. Ratings to BB-
PRIDE TRUCK: Seeks to Hire KC Cohen as Attorney
QUOTIENT LIMITED: Names New Chief Financial Officer Peter Buhler
RAINBOW LAND: Asks Court to Extend Exclusivity Period to March 25
REMARK HOLDINGS: Fails to Comply with Nasdaq's Market Value Rule

RRNB 1290: Seeks to Hire Villa & White as Legal Counsel
RRNB 8400: Seeks to Hire Villa & White as Legal Counsel
RYAN HINTON: Cash Collateral Use Extended Until Feb. 4
SADDY FAMILY: Plan Says Claims to Be Paid from Assets Sale
SARAH ZONE: Unsecureds Owed $4.33-Mil. to Split $500,000

SKFR INC: Hires Uptown Business as Real Estate Broker
SLANDY INC: Authorized to Use Cash Collateral on Interim Basis
SMG US MIDCO 2: Moody's Hikes CFR to B1, Outlook Stable
STABLELIFT OF TEXAS: Case Summary & 20 Largest Unsecured Creditors
SUNOCO LP: Fitch Affirms 'BB' LongTerm IDR, Outlook Stable

SWEET WOLVERINE: Taps David F. Rogers as Accountant
TAPSTONE ENERGY: Moody's Affirms Ca CFR, Outlook Negative
TATUNG COMPANY: Fourth Interim Cash Collateral Order Entered
TEGNA INC: Moody's Rates $1B Unsec. Notes Due March 2028 'Ba3'
TOUGH MUDDER: Creditors Place Race Organizer in Chapter 11

TOWN SPORTS: Kennedy Lewis et al. Have 14.9% Equity Stake
VECTOR GROUP: Egan-Jones Lowers Senior Unsecured Ratings to CCC+
VERDICORP INC: Exclusivity Period Extended Until June 9
WALKINSTOWN INC: Exclusivity Period Extended to April 24
WOODCREST ACE: Permitted to Use Cash Collateral Until Feb. 25

WOODLAWN COMMUNITY: May Continue Cash Collateral Use Until Jan. 22
WPX ENERGY: Fitch Gives BB Rating to New Unsec. Notes, On Watch Pos
WPX ENERGY: Moody's Assigns B1 Rating to New $900MM Unsec. Notes
[*] Alison Franklin Joins Greenberg Traurig's Bankruptcy Practice
[*] Carl Marks Advisors Promotes Scott Webb to Partner

[*] Christopher O. Bell Joins Schulte Roth & Zabel
[*] MACCO Restructuring Announces New Offices and Firm Additions
[*] Matthew Olson Joins Dorsey & Whitney's Restructuring Group
[*] Otterbourg Promotes Ikhwan Rafeek to Banking & Finance Member
[*] Seward & Kissel Announces Partner and Counsel Promotions

[*] Weil, Gotshal & Manges Elects 16 New Partners
[^] Recent Small-Dollar & Individual Chapter 11 Filings

                            *********

10827 STUDEBAKER: Cash Collateral Use Through Feb. 29 Approved
--------------------------------------------------------------
Judge Erithe Smith of the U.S. Bankruptcy Court for the Central
District of California approved the Second Stipulation between
10827 Studebaker LLC and Buchanan Mortgage Holdings, LLC granting
consent to Debtor's use of cash collateral through Feb. 29, 2020.

The Debtor will be permitted to use the Post-Petition Rents and
future rents collected from the tenants on the Property in
accordance with the budget attached to the Stipulation.

                    About 10827 Studebaker

10827 Studebaker LLC, which is primarily engaged in renting and
leasing real estate properties, sought Chapter 11 protection
(Bankr. C.D. Cal. Case No. 19-13242) on Aug. 21, 2019.  The
petition was signed by Robert Clippinger, authorized
representative. The Debtor was estimated to have assets and
liabilities of $1 million to $10 million as of the bankruptcy
filing.  The Hon. Erithe A. Smith is the case judge.
SULMEYERKUPETZ is the Debtor's counsel.



10827 STUDEBAKER: Judge Extends Exclusivity Period Until Feb. 17
----------------------------------------------------------------
Judge Erithe Smith of the U.S. Bankruptcy Court for the Central
District of California extended to Feb. 17 the period during which
only 10827 Studebaker LLC can file a Chapter 11 plan of
reorganization and seek confirmation of the plan.

                    About 10827 Studebaker

10827 Studebaker LLC, which is primarily engaged in renting and
leasing real estate properties, sought Chapter 11 protection
(Bankr. C.D. Cal. Case No. 19-13242) on Aug. 21, 2019.  The
petition was signed by Robert Clippinger, authorized
representative. The Debtor was estimated to have assets and
liabilities of $1 million to $10 million as of the bankruptcy
filing.  The Hon. Erithe A. Smith is the case judge. Sulmeyerkupetz
is the Debtor's legal counsel.


160 ROYAL PALM: Claims to Be Paid From Liquidation
--------------------------------------------------
160 Royal Palm, LLC, filed a Second Amended Chapter 11 Plan of
Liquidation of the Debtor.

The Plan contemplates a distribution of the proceeds of the sale of
the Debtor's assets and other assets in accordance with the
priorities mandated by the Bankruptcy Code, and that such assets be
transferred to a Liquidating Trust and administered, liquidated,
and distributed by the Liquidating Trustee to the Liquidating Trust
Beneficiaries in accordance with the Liquidating Trust Agreement

Under the Plan, the Class 2 - Allowed Town Claims in the amount of
$4,141,000 will receive payments consistent with the settlement
agreements reached between the Debtor and the Town, which have been
approved by the Bankruptcy Court, which consists of: (i) a payment
in the amount of $250,000 that the Town has already received in or
around April 2019, and (ii) a second payment in the amount of
$100,000 that will be provided within 6 days of the Sale Approval
Order becoming final and non-appealable.

Each holder of an Allowed Unsecured Claim in Class 3 will receive
distributions on a pro rata basis from available cash on deposit
from time to time with the Debtor and/or the Liquidating Trustee,
up to the full amount of each Allowed Claim, from: (i) the
remaining Sale Proceeds, after the payment in full of all Allowed
Trade Creditor Secured Claims and the Allowed Town Claims, (ii) the
Litigation Claims Proceeds, and (iii) the remaining funds, if any,
in the Sale Proceeds Reserve, following the complete administration
of the Case.

At any time prior to the satisfaction, settlement, release,
extinguishment, o  discharge of the DIP Lender Claim, LR and the
DIP Lender shall consensually carveout from any Cash actually
received by the Debtor, the Liquidating Trustee, or the Liquidating
Trust, as applicable, sums sufficient to allow the Debtor or
Liquidating Trustee to: (a) make all Distributions required or
permitted under this Plan; (b) cause the payment of any Allowed
Professional Fee Claim; and (c) cause the payment of any U.S.
Trustee Fees (the "Plan Distribution Carveout"). The Plan
Distribution Carveout shall expressly exclude any of the Sale
Assets re-conveyed to the Debtor, Liquidating Trustee, or
Liquidating Trust.

The Debtor or the Liquidating Trustee, as applicable, shall be
prohibited from using any of the Plan Distribution Carveout to fund
any distributions to KK-PB Financial, LLC, any affiliate of KK-PB
Financial, LLC, or any member of KK-PB Financial, LLC for Claims
filed by KK-PB Financial, LLC, but the Debtor or the Liquidating
Trustee, as applicable, shall not be prohibited from using any of
the Plan Distribution Carveout to fund any distributions on account
of Claims filed by other persons that were or are subsequently
transferred to or acquired by KK-PB Financial, LLC.

A copy of the Second Amended Plan of Liquidation Pursuant to
Chapter 11 dated Dec. 16, 2019, is available at
https://tinyurl.com/yx529fth from PacerMonitor.com at no charge.

Attorneys for the Debtor:

     Philip J. Landau
     Eric Pendergraft
     SHRAIBERG, LANDAU & PAGE, P.A.
     2385 NW Executive Center Drive, Ste. 300
     Boca Raton, FL 33431
     Telephone: (561) 443-0800
     Facsimile: (561) 998-0047
     E-mail: plandau@slp.law
     E-mail: ependergraft@slp.law

                     About 160 Royal Palm

160 Royal Palm, LLC is a Florida limited liability company, which
owns prime real property consisting of a partially constructed
hotel/condominium located at 160 Royal Palm Way, Palm Beach,
Florida.  The property is under state court receivership.

160 Royal Palm filed a voluntary petition for relief under chapter
11 of the United States Bankruptcy Code (Bankr. S.D. Fla. Case No.
18-19441) on Aug. 2, 2018.  In the petition signed by Cary
Glickstein, sole and exclusive manager, the Debtor disclosed
$16,447,759 in total assets and $114,926,976 in total liabilities.

The case has been assigned to Judge Erik P. Kimball.  

The Debtor tapped Philip J. Landau, Esq., at Shraiberg, Landau &
Page, P.A., as its counsel; and Greenberg Traurig, P.A. as its
special counsel and title agent.  

No official committee of unsecured creditors has been appointed in
the Debtor's case.


900 CESAR CHAVEZ: Seeks to Hire Lain Faulkner as Accountant
-----------------------------------------------------------
900 Cesar Chavez, LLC, and its debtor-affiliates seek authority
from the U.S. Bankruptcy Court for the Western District of Texas to
employ Lain Faulkner & Co., P.C., as accountant to the Debtor.

900 Cesar Chavez requires Lain Faulkner to:

   a) assist the Debtors in preparation and filing their
      Bankruptcy Schedules and Statement of Financial Affairs;

   b) assist the Debtors in preparation of their monthly
      reporting; and

   c) perform all other accounting services and provide all other
      financial advice to the Debtors in connection with these
      cases as may be required or necessary.

Lain Faulkner will be paid at these hourly rates:

     Directors                            $350 to $450
     CPA's/Accounting Professional        $240 to $340
     IT Professional                         $275
     Staff Accounting                     $150 to $240
     Clericals                            $80 to $110

Lain Faulkner will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Brian Crisp, partner of Lain Faulkner & Co., 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 estates.

Lain Faulkner can be reached at:

     Brian Crisp
     LAIN FAULKNER & CO., P.C.
     400 N. Saint Paul Street, Suite 600
     Dallas, TX 75201
     Tel: (212) 720-1929

                     About 900 Cesar Chavez

900 Cesar Chavez, LLC, is engaged in renting and leasing real
estate properties.

Chapter 11 petitions were filed Nov. 4, 2019 by 900 Cesar Chavez,
LLC (Bankr. W.D. Tex. Lead Case No. 19-11527), the Lead Case, and
its affiliates, 905 Cesar Chavez, LLC (Case No. 19-11528), 5th and
Red River, LLC (Case No. 19-11529), and 7400 South Congress, LLC
(Case No. 19-11530).  The cases are assigned to Judge Tony M.
Davis. In the petition signed by Brian Elliott, corporate counsel,
900 Cesar Chavez was estimated to have asses in the range of $1
million to $10 million, and $10 million to $50 million in debt.

The Debtors tapped Evan J. Atkinson, Esq., and Morris D. Weiss,
Esq., at Waller Lansden Dortch & Davis LLP, as counsel.


ABA THERAPY: Case Summary & 16 Unsecured Creditors
--------------------------------------------------
Debtor: ABA Therapy Solutions, LLC
        2400 SE Federal Hwy, #220
        Stuart, FL 34994

Business Description: Founded in 2012 by Linda Peirce,
                      ABA Therapy Solutions provides in-home and
                      clinic services covering language,
                      behavioral, self-help skills and social
                      skills services for individuals with autism
                      spectrum disorders, down syndrome and other
                      developmental disabilities.

Chapter 11 Petition Date: January 7, 2020

Court: United States Bankruptcy Court
       Southern District of Florida

Case No.: 20-10208

Judge: Hon. Erik P. Kimball

Debtor's Counsel: Craig I. Kelley, Esq.
                  KELLEY, FULTON & KAPLAN, P.L.
                  1665 Palm Beach Lakes Blvd
                  The Forum - Suite 1000
                  West Palm Beach, FL 33401
                  Tel: 561-491-1200
                  E-mail: dana@kelleylawoffice.com

Total Assets: $157,637

Total Liabilities: $1,342,155

The petition was signed by Linda Peirce, managing member.

A copy of the petition containing, among other items, a list of the
Debtor's 16 largest unsecured creditors is available for free at
PacerMonitor.com at:

                    https://is.gd/B2ysQH


ABC SOUTH: Unsecureds to Get 100% With 3% Interest in 1 Year
------------------------------------------------------------
Debtor ABC South Consulting and Construction, LLC has filed a
reorganization plan that treats unsecured creditors in this
manner:

  Class 3(a): A creditor whose allowed claim is $700 or less or who
elects to reduce its allowed claim to 50% of the claim amount will
receive a single payment equal to 100% of its allowed claim on, or
as soon as practicable after, the Effective Date of the Plan.

   * Class 3(b): Other general unsecured creditors will be paid
100% of their allowed claims with interest at the rate of 3 percent
per annum in equal quarterly installments within of one year after
the effective date of the Plan.

The equity holder will retain his/her equity interest in the Debtor


The Plan will be funded through:

  a. $13,300 of cash available on the effective date of the Plan;
and
  b. The refinancing of the House.

A full-text copy of the Amended Disclosure Statement dated Dec. 16,
2019, is available at https://tinyurl.com/tv3pd36 from
PacerMonitor.com at no charge.

Counsel for Debtor:

     Evan Park Howell III (18957)
     Attorney at Law
     1 Galleria Boulevard, Suite 1900
     Metairie, Louisiana 70001
     Telephone: (504) 343-4346
     Facsimile: (504) 613-6733
     E-mail: ehowell@ephlaw.com

                 About ABC South Consulting

ABC South Consulting and Construction, LLC, sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. E.D. La. Case No.
19-11650) on June 19, 2019.  At the time of the filing, the Debtor
was estimated to have assets of less than $1 million and
liabilities of less than $500,000.  Evan Park Howell III, Esq., is
the Debtor's bankruptcy attorney.


AI CAUSA LLC: Exclusivity Period Extended Until March 27
--------------------------------------------------------
Judge Louise DeCarl Adler of the U.S. Bankruptcy Court for the
Southern District of California extended to March 27 the period
during which only CrediautoUSA Financial Company LLC and AI Causa
LLC can file a Chapter 11 plan of reorganization.

                        About AI Causa LLC

Founded in 2012 and headquartered in San Diego, CrediautoUSA
Financial Company LLC --  http://www.crediautofinancial.com/-- has
established programs to finance vehicles sold by licensed
automobile dealerships to individuals with no credit history or
with less than perfect credit.

CrediautoUSA Financial Company LLC and its affiliate AI Causa LLC
sought protection under Chapter 11 of the Bankruptcy Code (Bankr.
S.D. Cal. Lead Case No. 19-01864) on March 30, 2019.

At the time of the filing, CrediautoUSA was estimated to have
assets of between $1 million and $10 million and liabilities of
between $10 million and $50 million.  AI CAUSA was estimated to
have assets and liabilities of between $1 million and $10 million.

The cases are assigned to Judge Louise Decarl Adler.

CrediautoUSA is represented by the Law Offices of Kit J. Gardner
while AI Causa is represented by Higgs Fletcher & Mack LLP. Bonilla
Accounting Firm serves as their accountant.



AK BUILDERS & COATINGS: Hires Michael M. Noble as Counsel
---------------------------------------------------------
Ak Builders & Coatings, Inc., seeks authority from the U.S.
Bankruptcy Court for the Eastern District of California to employ
Michael M. Noble, Esq., as counsel to the Debtor.

Ak Builders & Coatings requires Michael M. Noble to:

   -- provide legal advice to the Debtor;

   --  prepare monthly operating reports and status conference
       Reports;

   --  attend all meetings and hearings; and

   --  prepare a plan of reorganization or motion to satisfy all
       claims.

Michael M. Noble will be paid based upon its normal and usual
hourly billing rates. The firm will also be reimbursed for
reasonable out-of-pocket expenses incurred.

Michael M. Noble, 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.

Michael M. Noble can be reached at:

     Michael M. Noble, Esq.
     2017 5 th Street
     Sacramento, CA 95818
     Tel: (916) 370-7742
     E-mail: msntaxbk@aol.com

              About Ak Builders & Coatings, Inc.

AK Builders and Coating Inc. is a home building contractor that
provides wine cellar design, custom home design, green construction
and more. The Company previously sought bankruptcy protection on
July 26, 2017 (Bank. E.D. Cal. Case No. 17-24904) and Aug. 23, 2016
(Bankr. E.D. Cal. Case No. 16-25556).

AK Builders and Coating, Inc., based in Sacramento, CA, filed a
Chapter 11 petition (Bankr. E.D. Cal. Case No. CA 95818) on July
29, 2019.  In the petition signed by Alifeleti K. Vaituulala,
president, the Debtor was estimated to have $1 million to $10
million in both assets and liabilities.  The Hon. Robert S. Bardwil
is the presiding judge.  Michael M. Noble, Esq., serves as
bankruptcy counsel to the Debtor.




ALLERGAN INC: Egan-Jones Lowers Sr. Unsec. Ratings to BB-
---------------------------------------------------------
Egan-Jones Ratings Company, on December 30, 2019, downgraded the
foreign currency and local currency senior unsecured ratings on
debt issued by Allergan, Incorporated of United States to BB- from
BB+.

Allergan, Incorporated of United States provides pharmaceuticals
products. The Company offers medical devices and over-the-counter
products for ophthalmic, neurological, medical aesthetics, medical
dermatology, breast aesthetics, obesity intervention, and
urological diseases. Allergan serves customers worldwide.



ALLIANCE DATA: Egan-Jones Lowers Senior Unsecured Ratings to BB-
----------------------------------------------------------------
Egan-Jones Ratings Company, on January 2, 2020, downgraded the
foreign currency and local currency senior unsecured ratings on
debt issued by Alliance Data Systems Corporation to BB- from BB.
EJR also downgraded the rating on commercial paper issued by the
Company to B from A3.

Alliance Data Systems Corporation is a publicly-traded provider of
loyalty and marketing services, such as private label credit cards,
coalition loyalty programs, and direct marketing, derived from the
capture and analysis of transaction-rich data.


ASHLAND LLC: Moody's Rates New $850MM Secured Loans 'Ba1'
---------------------------------------------------------
Moody's Investors Service assigned Ba1 ratings to Ashland LLC's and
Ashland Services B.V.'s proposed $600 million revolving credit
facility, $250 million delayed draw term loan A due 2025, and
EUR500 million notes due 2028. Ashland Services B.V will be the
borrower of the new senior notes, which will be guaranteed by
Ashland Global Holdings Inc. and Ashland LLC. Ashland Services B.V
and Ashland LLC will be co-borrowers of the new revolver and
Ashland LLC will be the borrower of the new delayed draw term loan,
both of which will be guaranteed by Ashland Global Holdings Inc.,
Ashland Chemco Inc., and Ashland LLC. Proceeds from the notes and
term loan will be used for repaying outstanding debt, tender
premiums and transaction fees; increasing total debt and balance
sheet leverage slightly. The new credit facilities are unsecured,
which marks the completion of the anticipated shift to an unsecured
capital structure. The outlook is stable.

"The financing takes advantage of favorable debt capital markets
and will reduce financing costs and annual interest expense,"
according to Joseph Princiotta, SVP at Moody's. "The financing is
also intended to reduce the 2022 senior notes tower, which would
improve the debt maturity profile," Princiotta added.

Ratings assigned:

Issuer: Ashland LLC

Senior Unsecured Bank Credit Facilities, Assigned Ba1 (LGD4)

Issuer: Ashland Services B.V.

Senior Unsecured Regular Bond/Debenture, Assigned Ba1 (LGD4)

Outlook, Assigned Stable

RATINGS RATIONALE

Ashland's credit profile is supported by a portfolio of specialty
chemical businesses serving diverse end markets in the U.S. and
internationally, a modest revenue base with pro forma LTM revenues
of $2.4 billion (pro forma for the sale of composites and the Marl
plant), meaningful market shares in key businesses (#1 globally in
Specialty Ingredients) and good geographic and operational
diversity.

The ongoing portfolio restructuring and transition to a virtual
pure-play in specialty chemicals has strengthened Ashland's
portfolio and enhanced its strong margins with pro forma EBITDA
margins of roughly 23%. Key end markets such as personal care,
pharma, nutrition & other, and Pharmachem tend to be stable
businesses and are likely to be relatively resilient against
business cycles or recessions.

In September 2019, Ashland closed on the divestiture of its
Composites business and the Marl BDO facility to Ineos Group
Holdings S.A. (Ba2 stable) for $1.015 billion and used
approximately $900 million in proceeds to reduce secured debt and
balance sheet leverage. The company is targeting gross balance
sheet leverage at or below 2.5x (or about 2.9x on a
Moody's-adjusted basis), notwithstanding occasional but modest
deviation from this target to support opportunistic M&A activity
that might occur.

Negative factors in the credit include the modest scale and
diversity of the downsized portfolio and the legacy contingent
liabilities associated with asbestos litigation. However, asbestos
risk was largely contained with the 2015 settlement with certain
insurers that yielded close to $400 million. As of September 30,
2019, Ashland had an insurance receivable of $157 million and
restricted trust investments totaled $334 million, while reserves
for asbestos liabilities amounted to $604 million.

With FY 2019 adjusted EBITDA of $532 million, Moody's estimates
gross adjusted leverage in the mid-3.0x range at year end with an
improving metric trend expected in 2020. Cash flow metrics are
stronger with Retained Cash Flow to Debt in the mid 20% range.
Moody's expects that Ashland will continue to enjoy strong margins
in the Specialty Ingredients segment, with cost reductions, mix
management and new products supporting further margin improvement
from roughly 23% to 25-27%; while maintaining a strong balance
sheet and generating positive free cash flow for dividends, share
buybacks and modest M&A activity.

Ashland's SGL-2 Speculative Grade Liquidity rating reflects its
good liquidity position, which is supported by $232 million in cash
balances at September 30, 2019, availability of $570 million, net
of outstanding LCs, on the new $600 million senior unsecured
revolver at closing, $48 million of availability on its two
accounts receivable securitization facilities ($144 million
outstanding), and expectations for modest positive free cash flow
generation.

The stable outlook assumes the company sustains or improves EBITDA
margins and avoids large debt-funded M&A or share buybacks that
increase leverage. Occasional modest M&A activity that temporarily
and modestly spikes leverage would be consistent with the stable
outlook.

To be considered for an upgrade, the company would need to commit
to policies that support an IG rating over time: sustaining gross
leverage in the mid-to-high 2x range (on a Moody's adjusted basis),
and Retained Cash Flow/Debt above 25%, while the portfolio realizes
healthy organic growth and the company pursues a growth plan that
does not include large debt-financed acquisitions. The ratings
could be downgraded if adjusted gross leverage were to be sustained
above 3.5x and retained cash flow to debt declines below 15%,
resulting from M&A activity, earnings pressure or debt-funded share
buybacks.

ESG considerations and risks are modest for Ashland, and even more
so than most in the specialty chemical space given its predominant
use of natural-based resources including cellulosic, plant-derived
and other natural raw materials. However, the asbestos liability
associated with legacy boiler, tank and pipe materials from past
acquired companies stands out in the environmental and social
profile, despite its long tail and trust and insurance funded
status. Governance risks are currently modest, given the lack of
concentrated ownership and recent focus on leverage reduction, but
the company is still committed to share buybacks with excess cash
and it's possible that large deals are considered in the future.

Ashland LLC, headquartered in Covington, Kentucky, is focused on
growing its specialty chemicals businesses globally. The
divestiture of the Composites segment and the Marl BDO facility
leaves one relatively large segment -- Ashland Specialty
Ingredients (ASI) -- and one much smaller I & S segment. However,
there will be a business realignment in the second fiscal quarter
of 2020 that will organize the business around three segments:
Consumer Specialties, Industrial Specialties, and Intermediates &
Solvents. Revenues are geographically diverse with roughly 40%
derived from North America, 33% from Europe, 19% from Asia and the
balance from South America and Other. Pro forma for the
divestiture, Ashland's revenues are roughly $2.5 billion.

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


BARNEYS NEW YORK: No Cash Recovery, Only Releases for Unsecureds
----------------------------------------------------------------
Barneys New York, Inc. and its debtor affiliates on Dec. 18, 2019,
filed a third amended disclosure statement for their proposed Joint
Chapter 11 Plan.

As of Nov. 30, 2019, the Debtors reported approximately $5 million
of available cash.  As set forth in that certain cash management
motion and the Debtors' schedules and statements, debtor Barney's
Inc. holds all of the bank accounts in its name. The Debtors
estimate, based on current assumptions (including those set forth
in Article III.E hereof), that the Distributable Cash as of the
Effective Date will be between $3 million and $6 million.  As of
Nov. 30, 2019, the amount of cash deposited in the professional fee
escrow account, established and funded as part of the Sale Order
and DIP Order, was $10,929,848.

The Plan contemplates that a Plan Administrator will be appointed
on the Effective Date to finalize the wind down the Debtors'
estates, monetize any remaining assets, and make distributions to
creditors in accordance with the Plan.  The Plan Administrator will
be M-III Advisory Partners, LP, the Debtors' financial advisor, or
such other entity or individual appointed by the Debtors in
consultation with the Committee.  Upon completion of the Wind Down,
the Plan Administrator will take steps to dissolve any remaining
Debtor entity.  One or more Debtor may continue to exist after the
Effective Date only to facilitate the conclusion of the Wind Down
process.

Under the terms of the Plan, Holders of Claims and Interests will
receive the following treatment in full and final satisfaction,
compromise, settlement, release, and in exchange for, such Holders'
Claims and Interests:

   * Holders of Allowed Other Secured Claims will be paid in full,
in cash on the Effective Date or otherwise provided treatment as to
render such Claims unimpaired.

   * All known Holders of Other Priority Claims have been sent an
Administrative / Priority Consent Form pursuant to which the
Debtors are seeking the affirmative agreement of such party to the
treatment afforded to such Holder under the Plan. The treatment
afforded to Holders of Other Priority Claims under the Plan is only
available if each such Holder agrees to such treatment. The failure
to return the Administrative/ Priority Consent Form or to object to
the Plan shall be deemed to be such Holder’s consent to accept
less than full payment of its Claim as required by Section
1129(a)(9), and such Holder shall receive its Pro Rata share of the
Other Priority Claims Recovery on the Effective Date, or as soon as
reasonably practicable thereafter.

   * Each Holder of an Allowed Prepetition Secured Claim shall
receive a Pro Rata distribution of $25,000 on the Effective Date or
as soon as reasonably practicable thereafter.

   * Each Holder of an Allowed General Unsecured Claim shall
receive its Pro Rata share of the General Unsecured Claim Recovery
on the Effective Date or as soon as reasonably practicable
thereafter.

   * Each Allowed Intercompany Claim, unless otherwise provided for
under the Plan, will either be Reinstated or canceled and released
at the option of the Debtors; provided that no distributions shall
be made on account of any such Intercompany Claims.

   * Intercompany Interests shall be settled, canceled, released,
and extinguished as of the Effective Date, and will be of no
further force or effect, and Holders of Intercompany Interests will
not receive any distribution on account of such Intercompany
Interests.

   * Each Allowed Interest in Barneys shall be canceled, released,
and extinguished, and will be of no further force or effect and no
Holder of Interests in Barneys shall be entitled to any recovery or
distribution under the Plan on account of such Interests.

   * Allowed Section 510(b) Claims, if any, will be settled,
canceled, released, and extinguished as of the Effective Date, and
will be of no further force or effect, and Holders of Allowed
Section 510(b) Claims will not receive any distribution on account
of such Allowed Section 510(b) Claims. The Debtors are not aware of
any valid Section 510(b) Claim and believe that no such Section
510(b) Claim exists.

General unsecured claims projected to total $190 million will have
a projected recovery of Less than 1%. Each Holder of an Allowed
General Unsecured Claim shall: (i) receive its Pro Rata share of
the General Unsecured Claims Recovery; and (ii) if such Holder
votes to accept and/or does not otherwise oppose the Plan, such
holder shall be deemed a Released Party for all purposes
hereunder.

Bbecause the Debtors believe it is unlikely all Allowed
Administrative and Priority Claims will be paid in full in Cash,
they further believe that it is unlikely that Holders of Allowed
General Unsecured Claims will receive a Cash recovery under the
Plan on account of such Claims.  The Plan consideration for such
Holders that vote to accept and/or do not oppose the Plan would be
the mutual releases described in the Plan.

The Bankruptcy Court has scheduled the Plan Confirmation Hearing
for Jan. 24, 2020 at 12:00 p.m. (prevailing Eastern Time).
Objections to confirmation must be filed and served on the Debtors,
and certain other parties, by no later than Jan. 17, 2020 at 4:00
p.m. (prevailing Eastern Time) in accordance with the notice of the
Confirmation Hearing that accompanies this Disclosure Statement and
the Disclosure Statement Order.

A full-text copy of the Third Amended Disclosure Statement dated
Dec. 18, 2019, is available at https://tinyurl.com/qv687nh from
PacerMonitor.com at no charge.

Co-Counsel for the Debtors:

        Steven J. Reisman
        KATTEN MUCHIN ROSENMAN LLP
        575 Madison Avenue
        New York, New York 10022
        Telephone: (212) 940-8800
        Facsimile: (212) 940-8776

        Edward O. Sassower, P.C.                
        Joshua A. Sussberg, P.C.                  
        KIRKLAND & ELLIS LLP              
        KIRKLAND & ELLIS INTERNATIONAL LLP     
        601 Lexington Avenue                            
        New York, New York 10022                        
        Telephone: (212) 446-4800
        Facsimile: (212) 446-4900

            - and -

        Chad J. Husnick, P.C.
        W. Benjamin Winger
        KIRKLAND & ELLIS LLP
        KIRKLAND & ELLIS INTERNATIONAL LLP
        300 North LaSalle Street
        Chicago, Illinois 60654
        Telephone: (312) 862-2000
        Facsimile: (312) 862-2200

                      About Barneys New York

Barneys New York -- https://www.barneys.com/ -- is a creative
destination for modern luxury retail, entertainment and dining.
Barneys is renowned for being a place of discovery for some of the
world's leading designers, and for creating the most discerning
edit across women's and men's ready-to-wear, accessories, shoes,
jewelry, cosmetics, fragrances, and home. Barneys' signature
creativity and style comes to life through its innovative concepts
and experiences, imaginative holiday campaigns, famed window
displays, and exclusive activations. Barneys also operates its
iconic restaurants, Freds at Barneys New York, serving an
Italian-inspired and contemporary American menu within four of its
flagship stores.

Barneys New York, Inc., and four affiliates sought Chapter 11
protection (Bankr. S.D.N.Y. Lead Case No. 19-36300) in
Poughkeepsie, N.Y. The cases are assigned to Judge Cecelia G.
Morris.

Barneys disclosed $457 million in assets and $377 million in
liabilities as of July 6, 2019.

The Debtors tapped Kirkland & Ellis LLP as legal advisor, Houlihan
Lokey as financial advisor, M-III Partners, L.P., as restructuring
advisor, and Katten Muchin Rosenman LLP as conflicts counsel.
Bankruptcy Management Solutions, Inc., which conducts business
under the name Stretto, is the claims agent.



BLUCORA INC: Moody's Affirms B1 Corp. Family Rating, Outlook Stable
-------------------------------------------------------------------
Moody's Investors Service affirmed Blucora, Inc.'s B1 corporate
family rating and B1 senior secured term loan rating. The rating
action follows Blucora's announcement of its planned $160 million
acquisition of HK Financial Services, a provider of tax and wealth
management services with around $4.4 billion in client assets.
Moody's said Blucora's rating outlook remains stable.

Affirmations:

Issuer: Blucora, Inc.

Corporate Family Rating, Affirmed B1

Senior Secured Bank Credit Facility, Affirmed B1

Outlook Actions:

Issuer: Blucora, Inc.

Outlook, Remains Stable

RATINGS RATIONALE

Moody's said Blucora intends to fund its planned acquisition of
HKFS by issuing a $165 million add-on to its existing term loan due
in 2024. Unlike its other recent acquisitions, Blucora intends to
use debt to fund the entire amount of its HKFS acquisition, a
credit negative. Previously, Blucora used a mix of debt and cash on
hand to fund acquisitions, including most recently its May 2019
$180 million acquisition of 1st Global, Inc. for which roughly
two-thirds of the purchase price was financed with incremental
debt. Blucora's proforma Moody's-adjusted debt leverage will be
around 4.3x upon its acquisition of HKFS, from 3.6x for the
trailing-twelve months ended September 2019. Moody's said that
despite the increase in debt leverage, Blucora's credit profile
will continue to benefit from its strong cash flow generation and
relatively strong financial profile. In particular, said Moody's,
Blucora's retained cash flow (net of capital expenditure) was
around 22% of debt as of September 2019, providing it with ample
liquidity to de-lever during 2020; although Moody's expects debt
paydowns will likely be more modest than following previous
acquisitions, because previous paydowns were largely funded through
the sale of non-core businesses.

Moody's said Blucora's stable outlook reflects its favorable
revenue growth and strong cash flow generation capacity, that
enables it to retain a favorable financial profile despite its
anticipated increase in leverage. The outlook also considers the
credit constraints associated with Blucora's competitive
environment and reliance on macroeconomic drivers. Its two business
segments (tax preparation and wealth management) are in highly
competitive industries that favor scale, which constrains the
firm's credit strength despite its solid financial performance. The
tax preparation segment faces competition from larger tax providers
who lead in market share and pricing, while the wealth management
segment falls in a consolidating industry showing signs of pricing
pressure and contending with heightened regulation and
macroeconomic exposures through lower interest rates and
historically high asset valuations.

Blucora's management team has demonstrated credit positive
deleveraging strategies between 2016 and 2018 (following
M&A-related increased leverage) which have helped it contain
interest expense and report taxable earnings that help it maximize
the benefits of its significant balance of net tax operating loss
(NOL) carryforwards. Moody's expects Blucora to deliberatively pay
down its debt balance following the HKFS acquisition, which coupled
with momentum from revenue growth, would strengthen the firm's
credit profile. Moody's said the firm's federal NOL carryforwards
were $454 million as of year-end 2018 (the majority of which will
expire between 2020 and 2024, if not utilized) and its focus on
faster debt repayment was to benefit from reduced interest expense
and utilize the firm's tax-loss carryforwards in a manner that
could minimize cash taxes.

Concurrent with its acquisition announcement, Blucora said that its
Chief Financial Officer, Davinder Athwal will be leaving the firm
on January 31, 2020, and will be available in an advisory capacity
through 2020. The announcement came two years after his appointment
as CFO. Blucora named a special advisor to help with the transition
and the search for a permanent CFO.

In its assessment of the firm's corporate governance, Moody's makes
a one-notch downward adjustment for corporate behavior in its
assessment of Blucora's creditworthiness. This reflects credit
risks inherent in the company's continuing strategy to engage in
debt-funded M&A and related uncertainties surrounding its
longer-term strategic and financial profile, that offsets its
otherwise relatively strong existing financial profile.

Factors that could lead to an upgrade:

  -- Increased clarity on Blucora's longer-term strategic and
financial priorities, including with respect to M&A appetite,
shareholder returns and debt leverage

  -- Ongoing evidence of a successful implementation of Blucora's
operational strategies resulting in organic growth, rising
profitability, increased scale and improved margins

  -- Shift towards a more stable user base in the tax business and
revenue growth driven by factors other than pricing

  -- A substantial pay-down of the credit facility

Factors that could lead to a downgrade:

  -- Increasing competitive pressures on the firm's wealth
management or tax preparation businesses resulting in a
deterioration in the firm's revenue and cash flow generation

  -- Shift in financial policy that increasingly favors
shareholders such as increasing leverage to fund share repurchases,
or other credit negative policies

  -- A significant deterioration in franchise value, via a security
breach of client accounts, a sustained service outage, or a
significant legal or compliance issue resulting in reputational
damage, loss of customers and litigation costs pressuring profit
margins

The principal methodology used in these ratings was Securities
Industry Service Providers Methodology published in November 2019.


BODY RENEW: Seeks Court Approval to Hire Accountant
---------------------------------------------------
Body Renew Winchester, LLC and Body Renew Winchester II, LLC seek
approval from the U.S. Bankruptcy Court for the Western District of
Virginia to hire an accountant.
   
The Debtor proposes to employ Michael Callahan, a certified public
accountant, to provide accounting services, including monthly
bookkeeping, payroll and preparation of income tax returns.

The accountant will charge each Debtor a monthly fee of $750 for
payroll and bookkeeping services.  The fee for income tax
preparation for each Debtor is approximately $3,500 per year.

Mr. Callahan disclosed in court filings that he does not have any
connections with creditors and other "parties in interest" in the
Debtors' Chapter 11 cases.

                    About Body Renew Winchester

Body Renew Winchester II, LLC, and Body Renew Winchester, LLC, are
privately held companies in the health and fitness clubs and gyms
business.

Body Renew Winchester II and Body Renew Winchester filed voluntary
petitions seeking relief under Chapter 11 of the Bankruptcy Code
(Bankr. W.D. Va. Case No. 19-50547 and 19-50548) on June 27, 2019.
The petitions were signed by Jeremy W. Wright, manager.  The
Debtors were each estimated to have $50,000 in assets and $1
million to $10 million in liabilities.

James P. Campbell, Esq. at Campbell Flannery, P.C., is the Debtors'
counsel.

A committee of unsecured creditors was appointed on July 22, 2019.
The committee is represented by Hirschler Fleischer, P.C.


BODY RENEW: Seeks to Hire Williams Mullen as Special Counsel
------------------------------------------------------------
Body Renew Winchester, LLC and Body Renew Winchester II, LLC seek
approval from the U.S. Bankruptcy Court for the Western District of
Vorginia to hire Williams Mullen effective nunc pro tunc to June
27, 2019.

Williams Mullen will serve as the Debtors' special counsel for
ERISA matters.  The firm's hourly fees are:

                     Range prior to    Range on and after  
                     February 2020     February 2020
                     ---------------   ------------------
     Partners        $390 - $695       $410 - $715
     Associates      $260 - $395       $270 - $490
     Paralegals      $130 - $275       $160 - $300

The attorneys who will be providing the services are:

                     Current       Hourly Rate on and
                     Hourly Rate   after February 2020
                     -----------   -------------------
     Marc Purintun        $600            $630
     Augustus Epps Jr.    $515            $540

Augustus Epps Jr., Esq., a partner at Williams Mullen, disclosed in
court filings that the firm and its attorneys neither hold nor
represent any interest adverse to the Debtors and their bankruptcy
estates.

The firm can be reached through:

     Augustus C. Epps Jr., Esq.    
     Williams Mullen Center
     200 South 10th Street, Suite 1600
     Richmond, VA 23219
     Telephone: 804.420.6000/804.420.6543
     Fax:  804.420.6507
     E-mail: aepps@williamsmullen.com

                    About Body Renew Winchester

Body Renew Winchester II, LLC, and Body Renew Winchester, LLC, are
privately held companies in the health and fitness clubs and gyms
business.

Body Renew Winchester II and Body Renew Winchester filed voluntary
petitions seeking relief under Chapter 11 of the Bankruptcy Code
(Bankr. W.D. Va. Case No. 19-50547 and 19-50548) on June 27, 2019.
The petitions were signed by Jeremy W. Wright, manager.  The
Debtors were each estimated to have $50,000 in assets and $1
million to $10 million in liabilities.

James P. Campbell, Esq. at Campbell Flannery, P.C., is the Debtors'
counsel.

A committee of unsecured creditors was appointed on July 22, 2019.
The committee is represented by Hirschler Fleischer, P.C.


BORDEN DAIRY: From World's Largest to Chapter 11 Bankruptcy
-----------------------------------------------------------
Jason Monaco, executive vice president, chief financial officer,
treasurer, and assistant secretary of Borden Dairy Company,
recounts that in the 1980s, Borden was the world's largest dairy
operator, with sales exceeding $7.2 billion. It was also the
nation's most active participant in the M&A market in 1987 after
making 23 acquisitions totaling $442.6 million. Before the end of
the decade, Borden acquired an additional 39 operations.

By the early 1990s, however, Borden Inc. began experiencing
financial distress, resulting in a number of its business units
being divested.

In 1995, Borden Inc. was sold to Kohlberg Kravis Roberts & Co.
("KKR") for $2 billion and became a private company. Over the next
decade, Borden Inc. underwent a series of reorganizations, which
ultimately resulted in KKR selling off many of the divisions and
brands of Borden Inc. to various buyers.

In 2017, the Company and certain of its subsidiaries entered into a
Reorganization and Subscription Agreement (the "2017 RSA"),
pursuant to which the Company reorganized under a new holding
company and the existing equity holder sold an equity position to a
new investor.

                               Headwinds

In 2018, the Debtors reported consolidated net sales of $1.181
billion with gross profit of $292 million. Notwithstanding the
foregoing, the Debtors experienced an income loss from operations
in the amount of $2.6 million and a total net income loss of $14.6
million. These losses continued into 2019, with the Debtors
reporting income loss from operations in the amount of $22.3
million and a total net income loss of $42.4 million from January
2019 through Dec. 7, 2019.

The Debtors said the $21 million per year in cash interest over the
past several years under their credit facility and quarterly
payments totaling $2.35 million each year on the Term Loan A
Facility can no longer be serviced by the Company's underlying
earnings and cash flow.

Borden added that in recent years, dairy products faced competition
with other replacement non-dairy nutritional products and beverages
for consumer sales, which has contributed to demand decreases.

While milk remains a household item in the United States, people
are simply drinking less of it. Aggregate U.S. consumption of
conventional dairy milk has declined approximately 6% since 2015.

In parallel, since the turn of the century, the number of U.S.
dairy farms has rapidly declined. From 1992 to 2018, over 94,000
family dairies closed their doors at the rate of 10 dairy farms per
day. In the past year and a half alone, over 2,730 dairy farms have
gone out of business.  Borden's largest competitors and fellow
industry participants, Southern Foods Group, LLC d/b/a Dean Foods,
filed for chapter 11 relief on Nov. 12, 2019.

According to Mr. Monaco, by the fall of 2019, it became clear to
the Debtors that they needed immediate relief from their
overwhelming debt burden, as operational fixes were not enough to
overcome industry headwinds.

In response to these mounting challenges, on Oct. 1, 2019, the
Debtors once again formally reengaged in discussions with parties
to explore restructuring alternatives that would allow the Debtors
to reduce their current debt service burden and provide liquidity
relief. Following these discussions, the Debtors retained a
financial advisory firm, Conway McKenzie, to assist the Debtors
with cash management practices and to evaluate company cost
structure.

These conversations ultimately resulted in a forbearance agreement,
dated Nov. 27, 2019, whereby the Lenders and the Agent agreed to
forbear from exercising certain remedies under the Loan Documents
until January 6, 2020, while the parties thereto worked to document
and consummate a potential out-of-court restructuring on the terms
outlined therein. In connection with the forbearance, the borrowing
amount available to the Debtors under the RCF Facility was
increased from $60 million to $70 million to provide the Debtors
with additional liquidity to sustain their operations.
Unfortunately, the parties were unable to finalize and implement an
out-of-court restructuring by the forbearance termination date, and
the Lenders were unwilling to extend such date further and provide
necessary liquidity, necessitating the filing of the Chapter 11
cases.

Borden Dairy Company and its subsidiaries sought Chapter 11
protection on Jan. 5, 2019, to achieve an orderly, efficient,
consensual and successful reorganization to maximize the value of
the Debtors' estates for their stakeholders.

                          $256M of Funded Debt

As of the Petition Date, there is approximately $255.8 million of
principal amount of loans outstanding under the Debtors'
prepetition credit facility, comprised of:

(a) $56.7 million of principal amount of loans outstanding under
the RCF Facility, plus approximately $13 million of Letters of
Credit that have been drawn,

(b) approximately $24.1 million of principal amount of loans
outstanding under the Term Loan A Facility, and

(c) approximately $175 million of principal amount of loans
outstanding under the Term Loan B Facility, plus accrued and unpaid
interest, fees, expenses, and all other obligations payable under
the Loan Documents.

For the trailing 12 months ending in December 2019, the Debtors
processed and distributed approximately 400 million gallons of
milk, dairy, and other products.

As of Dec. 31, 2019, the Debtors' national, local and regional
proprietary brands include Coburg, Dairy Fresh, Dairymens,
Flav-O-Rich, Kid Builder, Saba Sunburst, Sallie's Southern Tea,
Sunburst, and Velda. Licensed brands include Borden and
Poinsettia.

The Debtors produce and distribute products from their 12
manufacturing facilities and more than 75 distribution centers,
with sales predominantly located in the Southeastern region of the
United States. Due to the perishable nature of the products, the
majority of products are directly delivered to customers via a
fleet of approximately 2,800 refrigerated trucks or trailers that
the Debtors own or lease.

The Debtors' customers are largely comprised of household retail
names including large format retailers such as Walmart, Sam's Club,
Food Lion and Kroger; wholesale distributors such as Sysco, US
Foods and Gordon Foodservice; small format retailers such as Circle
K, 7-Eleven, CVS and Walgreens; fast food chains such as Dairy
Queen, Dunkin, and Starbucks; and educational institutions ranging
from elementary schools to universities and colleges.

At present, the Debtors have 3,264 employees across several states,
approximately 551 of which are salaried individuals on a full-time
or part-time basis, and approximately 2,713 of which are paid
hourly on either a full-time or part-time basis.

                        About Borden Dairy

Borden Dairy Company -- http://www.bordendairy.com/-- is a
processor and direct-to-store distributor of fresh fluid milk,
dairy case products, and other beverages.  The Company produces and
distributes a wide variety of branded and private label
traditional, flavored and specialty milk, buttermilk, dips and sour
cream, juices, tea, and flavored drinks to mass merchandisers,
educational institutions, food service retailers, grocery stores,
drug stores, convenience stores, food and beverage wholesale
distributors, and retail warehouse club stores across the United
States.

Borden is headquartered in Dallas and operates 12 milk processing
plants and nearly 100 branches across the U.S. The Company was
founded in 1857 by Gail Borden, Jr.

Borden Dairy Company and its subsidiaries sought Chapter 11
protection (Bankr. D. Del. Lead Case No. 20-10010) on Jan. 5,
2020.

The Hon. Christopher S. Sontchi is the case judge.

Borden was estimated to have $100 million to $500 million in assets
and liabilities as of the bankruptcy filing.

The Debtors tapped ARNOLD & PORTER KAYE SCHOLER LLP as general
bankruptcy counsel; YOUNG CONAWAY STARGATT & TAYLOR, LLP as
conflicts counsel; and DONLIN RECANO is the claims agent.


BORDEN DAIRY: Seeks to Pay $25 Million Owed to Milk Vendors
-----------------------------------------------------------
Borden Dairy Company, which sought Chapter 11 bankruptcy protection
this week, is asking the bankruptcy court for approval to pay sums
owed to milk vendors, including prepetition liabilities, promptly
as they come due in the ordinary course.

The primary raw material used in Borden's products is conventional
raw milk (which contains both raw skim milk and butterfat) that is
purchased from independent family dairy farms (approximately 33% of
Borden's total purchases) and farmers' cooperatives (approximately
67% of Borden's total purchases).

Borden purchases raw milk from approximately 262 independent family
dairy farms, which include both large and small family-owned
businesses. Borden is the only purchaser to which all but three of
the Independent Family Farms sell their products and is one of the
largest purchasers of milk from the other three Independent Family
Farms.

Borden also purchases raw milk from five farmers' cooperatives. The
Farmers' Cooperatives are groups of dairy farmers that market their
milk jointly through their cooperative. In general, Borden pays for
milk to be supplied in a given month on or around the 26th day of
that month, and then pays the balance owed on or around the 13th
day of the following month.

For example, for December 2019, Borden paid advances of $13.0
million on Dec. 26, 2019, and owes $19.0 million on Jan. 14, 2020,
for the balance of the payment owed for milk delivered in December
2019.

The Debtors have included the milk vendors among their "critical
vendors". The Debtors have sought approval to pay the prepetition
claims of critical vendors. As of the Petition Date, the Debtors
estimate that they owe the milk vendors approximately $25.05
million on account of prepetition claims, the total amount of which
the Debtors believe is critical.

"Even a small disruption to the Debtors' supply of milk would cause
a reduction in the Debtors' order fulfillment rate.  If Borden is
unable to meet its customers' demands and its contractual
commitments due to supply disruptions from the Milk Vendors on
account of Borden's nonpayment, Borden's customers, including
Wal-Mart, Starbucks, Food Lion, and schools districts across the
country (among many others), will very likely shift their orders to
competing suppliers," explains Jason Monaco, Borden's Executive
Vice President, Chief Financial Officer, Treasurer, and Assistant
Secretary.

                        About Borden Dairy

Borden Dairy Company -- http://www.bordendairy.com/-- is a
processor and direct-to-store distributor of fresh fluid milk,
dairy case products, and other beverages. The Company produces and
distributes a wide variety of branded and private label
traditional, flavored and specialty milk, buttermilk, dips and sour
cream, juices, tea, and flavored drinks to mass merchandisers,
educational institutions, food service retailers, grocery stores,
drug stores, convenience stores, food and beverage wholesale
distributors, and retail warehouse club stores across the United
States.

Borden is headquartered in Dallas and operates 12 milk processing
plants and nearly 100 branches across the U.S.  The Company was
founded in 1857 by Gail Borden, Jr.

Borden Dairy Company and its subsidiaries sought Chapter 11
protection (Bankr. D. Del. Lead Case No. 20-10010) on Jan. 5,
2020.

The Hon. Christopher S. Sontchi is the case judge.

Borden was estimated to have $100 million to $500 million in assets
and liabilities as of the bankruptcy filing.

The Debtors tapped ARNOLD & PORTER KAYE SCHOLER LLP as general
bankruptcy counsel; YOUNG CONAWAY STARGATT & TAYLOR, LLP as
conflicts counsel; and DONLIN RECANO is the claims agent.


C LUGRAND-DAWKINS: Seeks to Hire Newark Firm as Counsel
-------------------------------------------------------
C Lugrand-Dawkins Enterprises, LLC, seeks authority from the U.S.
Bankruptcy Court for the Southern District of Texas to employ A
Newark Firm, as counsel to the Debtor.

C Lugrand-Dawkins requires Newark Firm to represent and provide
legal services to the Debtor in the Chapter 11 bankruptcy
proceedings.

Newark Firm will be paid at these hourly rates:

     Robert C. Newark, III          $400
     Paralegals                      $95

Newark Firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Robert C. Newark, III, partner of A Newark Firm, assured the Court
that the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtor and its estates.

Newark Firm can be reached at:

     Robert C. Newark, III, Esq.
     A NEWARK FIRM
     1341 W. Mockingbird Lane, Ste 600W
     Dallas, TX 75247
     Tel: (866)230-7236
     Fax: (888)316-3398

               About C Lugrand-Dawkins Enterprises

C Lugrand-Dawkins Enterprises, LLC, filed a Chapter 11 bankruptcy
petition (Bankr. S.D. Tex. Case No. 19-36211) on Nov. 4, 2019,
estimating under $1 million in both assets and liabilities.  The
Debtor is represented by Robert C. Newark, III, Esq., of A Newark
Firm.


CASTLE US: Moody's Assigns B2 Corp. Family Rating, Outlook Stable
-----------------------------------------------------------------
Moody's Investors Service assigned first time ratings to Castle US
Holding Corporation with a Corporate Family Rating of B2 and a
Probability of Default Rating of B2-PD. Concurrently, Moody's
assigned a B2 rating to the borrower's proposed senior secured
first lien credit facility, comprised of a $1.55 billion
multi-tranche term loan and an undrawn $150 million revolver. The
proceeds of the new debt financing will be used to partially fund
the $2.88 billion purchase (including fees) of Castle's parent
company by an affiliate of Platinum Equity LLC. The ratings outlook
is stable.

Moody's assigned the following ratings:

  Corporate Family Rating -- B2

  Probability of Default Rating -- B2-PD

  Gtd Senior Secured First Lien Revolving Credit Facility
  expiring 2025 -- B2 (LGD4)

  Gtd Senior Secured First Lien Term Loan due 2027 -- B2 (LGD4)

Outlook Action:

  Outlook is Stable

RATINGS RATIONALE

Castle's B2 CFR is constrained by the company's high pro forma
debt/EBITDA of approximately 6x (Moody's adjusted for operating
leases) for the last twelve months ending September 30, 2019. Debt
leverage approaches 7x when expensing capitalized software costs.
Additionally, the issuer's credit quality is negatively impacted by
its relatively limited scale and exposure to economic cycles given
Castle's narrow vertical market focus as a provider of software and
related services to communications professionals globally. The
company's concentrated private equity ownership by Platinum
following the completion of the LBO transaction presents material
corporate governance risks with respect to potentially aggressive
financial strategies. In particular, Castle, through its
predecessor companies, has a history of debt financed acquisitions
and could choose to make additional purchases or pursue dividend
distributions that could meaningfully constrain deleveraging
efforts. These risks are partially offset by the company's solid
presence as a provider of solutions within its target market of
clients including public relations agencies, large multinationals,
small and medium businesses, and government entities.

Castle's credit quality is also supported by the company's largely
SaaS driven revenue model and historically strong retention rates
that produce high revenue predictability which, in conjunction with
solid profitability metrics, fuel healthy free cash flow generation
and interest coverage.

Castle's very good liquidity is supported by the company's expected
pro forma cash balance of approximately $50 million following the
completion of the financing. The company's liquidity is also
bolstered by an undrawn $150 million revolving credit facility and
Moody's expectation that the company will generate free cash flow
over the coming year approximating 6% of total debt. While Castle's
proposed term loans are not subject to financial covenants, the
revolving credit facility has a springing covenant based on a
maximum net first lien leverage ratio which the company should be
comfortably in compliance with over the next 12-18 months.

The stable outlook reflects Moody's expectation that Castle will
generate mid-single digit organic revenue growth over the next 12
to 18 months. Sales gains should be principally driven by
incremental product purchases by existing clients within the
company's installed base. Despite anticipated top-line growth,
considerable upfront implementation costs related to cost
rationalization programs will constrain profitability improvement
in the near term, resulting in minimal deleveraging towards the mid
5x level by the end of 2020.

The rating could be upgraded if Castle sustains healthy revenue
growth and profitability, successfully integrates recent
acquisitions, and adheres to a conservative financial policy such
that debt/EBITDA (Moody's adjusted) approaches 4.0x (4.5x when
expensing capitalized software costs), and annual free cash flow to
debt approximates 10%.

The rating could be downgraded if Castle were to experience a
weakening competitive position or the company maintains aggressive
financial policies causing debt leverage to rise above 6.5x (7x
when expensing capitalized software costs) and annual free cash
flow to debt to fall below 5%.

The principal methodology used in these ratings was Software
Industry published in August 2018.

Castle, through its parent company which is in the process of being
acquired by Platinum, provides database tools and software to
public relations and communications professionals. Moody's
forecasts that the company will generate sales of approximately
$800 million in 2020.


CBL & ASSOCIATES: Fitch Corrects Dec. 17 Ratings Release
--------------------------------------------------------
Fitch Ratings replaced a ratings release on CBL & Associates
Properties Inc. published on December 17, 2019 to correct the name
of the obligor for the bonds.

The amended press release is as follows:

Fitch Ratings downgraded the Long-Term Issuer Default Ratings of
CBL & Associates Properties, Inc. and its operating partnership,
CBL & Associates, L.P., to 'CCC+' from 'B-'.

The downgrade reflects Fitch's views of increasing headwinds in
brick-and-mortar retail and CBL's high exposure to the
deteriorating performance of department store anchors, and apparel
and commodity tenants. CBL's operating metrics have worsened to a
degree that Fitch believes traditional refinancing of its unsecured
maturities will remain unavailable, and the probability of some
form of debt exchange has increased materially. The company does
not have any substantial unsecured maturities until 2023, but
regaining access to the unsecured debt markets would likely require
substantial improvement in operating performance, which Fitch views
as unlikely.

CBL has limited access to capital relative to other U.S. equity
REITs. Bank access has been restricted to secured lending through
the credit facility, new secured mortgage capital for lower tier
assets has become largely unavailable and existing mortgage
refinancing has required greater lender leniency in many cases. CBL
remains unable to access the unsecured bond market and its
outstanding bonds currently trade at yields in the mid-teens, which
is consistent with issuer rated 'CCC' or below. Public equity is
not a viable option given the suspension of its common and
preferred dividends and weak NAV share valuation. Private equity,
such as joint ventures, may be available for a small subset of
CBL's assets.

Fitch expects property-level fundamentals will remain pressured by
store closures and bankruptcies of weaker performing retailers,
which will challenge the company's ability to sustain portfolio and
financial metrics. Positively, the aforementioned dividend
suspension will improve cash flow retention and allow for greater
flexibility in efforts to backfill vacancies and redevelop assets
to attract better performing tenants.

KEY RATING DRIVERS

Cash Flow Erosion: Fitch expects CBL's operating metrics will
deteriorate further in the near term, with same-center NOI likely
to decline at a mid-single-digit rate annually through the 2021
rating case projection period. Property-level performance has been
weak with declining occupancies only partially mitigated by
backfilling and negative releasing spreads in the high-single-digit
to low-double-digit range. Performance has been impacted most
significantly by ongoing department store anchor weakness (i.e. JC
Penney, Macy's, Sears) in combination with store closures and
bankruptcies of material in-line tenants (i.e. L Brands' Victoria's
Secret, Foot Locker, Forever 21, etc.). Rent concessions, growing
tenant improvement costs and shorter lease terms characterize CBL's
leasing activity in the last several quarters.

CBL's same-center mall occupancy declined 200bps yoy to 88.7% and
mall same-center NOI was down 6.4% for the nine months ended Sept.
30, 2019. The company's stabilized mall same-center tenant sales
per square foot were $383, up 1.1% yoy; however, sales per square
foot figures can be biased upward by the exit of non-performing
tenants from boxes absent actual improvement in productivity of the
remaining in-line tenant roster. Total portfolio occupancy,
including associated centers and community shopping centers,
declined 150bps yoy to 90.5% and total portfolio same-store NOI was
down 5.5% for the nine months ended Sept. 30, 2019.

For the nine months ended Sept. 30, 2019, blended leasing spreads,
a leading indicator of same-center NOI, were negative 6.6% for all
property types and negative 6.9% for stabilized malls. This follows
full year 2018 activity of negative 10.4% and negative 10.8% for
all properties and stabilized malls, respectively. Fitch expects
continued softness in CBL's operating metrics as the prevailing
retail headwinds continue to pressure the company's tenant roster
of department stores, apparel and commodity retailers. Positively,
74% of new mall leasing and 60% of total mall leasing, including
renewals, has been non-apparel through nine months of 2019.

Conditional Capital Access: CBL's access to capital has been
limited to its secured credit facility and refinancing of secured
mortgage maturities has required lender leniency in many cases. CBL
has no tangible access to the REIT unsecured bond market or
public/preferred equity markets. The company does have some runway
prior to its first unsecured bond maturity in 2023, but Fitch
anticipates refinancing will require at least partial principal
reduction through available cash flow and ultimately some form of
debt exchange to rebalance its capital structure.

Declining UA/UD: CBL encumbered many of its best-performing assets
when it transitioned to a secured credit facility in January 2019,
diluting the quality and amount of unencumbered asset coverage of
unsecured debt. Secured financing available for less productive
malls has weakened materially, limiting the contingent liquidity
provided by the company's remaining unencumbered pool. Secured
mortgage lenders, including CMBS, have tightened class B mall
underwriting standards to generally require tenant productivity
above $400 psf, compared to CBL's $313 psf weighted average for its
unencumbered pool at Sept. 30, 2019.

Fitch's estimate of unencumbered asset coverage of unsecured debt
(UA/UD) was approximately 0.5x when applying a stressed 17.0%
capitalization rate to 3Q19 annualized unencumbered NOI, down from
0.8x for 3Q18.

Credit Metrics Weak, Stabilizing: Fitch expects leverage (as
measured by net debt to recurring operating EBITDA) will sustain in
the high-7x to low-8x range through 2021 as the company is likely
to shed non-performing assets and the committed mortgages at
maturity with minimal direct EBITDA impact. Retained cash flow of
approximately $200 million will allow the company to accelerate
investment in select redevelopment and tenant releasing costs to
counter some of the anticipated EBITDA decline due to occupancy
losses and rent roll down. CBL's leverage was 7.6x for the third
quarter ended Sept. 30, 2019, up from 7.3x for the year ended Dec.
31, 2018.

When treating 50% of CBL's preferred stock as debt, leverage would
be approximately 8.3x.

Fitch estimates pro forma TTM fixed charge coverage improved to
2.2x from 1.8x when accounting for the suspension of preferred
dividends. Fitch expects fixed charge coverage to sustain in the
high-1x to low-2x range through 2021, approximately level with the
year ended Dec. 31, 2018.

Activist Investor Heightens Strategic Uncertainty: Fitch sees
heightened strategic uncertainty from shareholder activism that
could weaken CBL's credit profile. For example, CBL could adopt new
financial policies which include a restructuring of the balance
sheet through approaches potentially detrimental to the company's
unsecured creditors.

However, so far the emergence of an activist investor in CBL's
common equity has not resulted in more aggressive or shareholder
friendly financial policies. Exeter announced its 6% stake in CBL
in August 2019 and the November agreement with CBL appointed
Michael Ashner and Carolyn Tiffany to the board. The agreement also
established a Capital Allocation Committee to serve as an advisory
committee to the board and review strategic decision making and
provide recommendations to the board.

Recovery Ratings: Fitch's recovery analysis assumes CBL would be
considered a going-concern in bankruptcy and the company would be
reorganized rather than liquidated. Fitch applies individual
stressed capitalization rates, based on the addition of 50bps to
current prevailing market cap rates, to the 3Q19 NOI generated by
each tier of mall asset as well as the associated and community
center assets to determine weighted average stressed capitalization
rate of 13.4%. The stressed cap rates applied to each asset tier
are as follows: Tier I malls, 10.7%, Tier II malls, 14.5%, Tier III
malls, 20.4%, and Other Centers, 9.0%.

3Q19 annualized NOI of $523 million is discounted by 10.6%, based
on anticipated SSNOI declines of 6.2% in fiscal 2020 and 4.7% in
fiscal 2021, and added to forecasted 6% redevelopment yields on
$250 million of expected redevelopment spending through 2021. The
weighted average stressed cap rate of 13.4% is applied to the
post-reorganization NOI of $483.3 million to determine a
recoverable value for the real estate portfolio. This value is
combined with a discounted valuation of non-real estate assets to
determine a net recoverable value available to holders of CBL's
obligations of $3.4 billion, after applying 10% to administrative
costs and priority claims. There is no assumption of concession
allocation to unsecured claims due to expected recoveries of the
unsecured bonds in the 31%-50% range.

The distribution of value yields a recovery ranked in the 'RR1'
category for the senior secured revolver and term loan based on
Fitch's expectation of recovery for the facility in the 91%-100%
range, the 'RR4' category for the senior unsecured bonds based on
recovery in the 31%-50% range, and the 'RR6' category for the
preferred stock based on recover in the 0%-10% range.

The credit facility is secured by a first-priority lien on several
of CBL's Tier I assets, its most productive as measured by tenant
sales per sf. Fitch assumes that CBL would draw the full amount
available under its $685 million revolving credit facility in a
bankruptcy scenario, and includes that amount in the claims
waterfall. Fitch also assumes that all $1.5 billion in outstanding
first-lien mortgages are fully repaid via the recoverable value in
a going concern scenario. Fitch includes $56.2 million in recourse
loans on operating properties and $119.2 million of CBL's
guarantees on unconsolidated joint venture mortgages, construction
loans, leases and its performance bonds, as of Sept. 30, 2019, in
the waterfall and considers them structurally senior to CBL's
unsecured bonds.

Under Fitch's Recovery criteria, these recoveries result in
notching three levels above the IDR for the credit facility to
'B+', notching level with the IDR for the unsecured bonds to
'CCC+', and notching two levels below the IDR to 'CCC-' for the
preferred stock.

The recoveries of CBL's operating portfolio are about $100 million
lower than Fitch's August 2019 recovery analysis reflecting more
conservative current views on the stressed capitalization rates
utilized for the mall assets. This is balanced by the reduction of
first-priority secured mortgages by ~$120 million since the end of
2Q19 through lender give backs and asset sales.

DERIVATION SUMMARY

CBL's relative levels of occupancy, SSNOI growth, leasing spreads
and tenant sales productivity are weaker than B-mall peer
Washington Prime Group (WPG, BB-/Negative) and considerably weaker
than A-mall peer Simon Property Group (SPG, A/Stable). CBL's
leverage in the high-7x to low-8x range is similar to WPG's, but
significantly higher than SPG's which sustains leverage in the
low-5x range.

Further, CBL's contingent liquidity, as measured by UA/UD, is
estimated at 0.5x and exhibits high levels of adverse selection.
Fitch estimates WPG's UA/UD at approximately 1x and SPG's at 3x. In
addition, CBL's capital access is materially weaker than its peers
and severely limits its financial flexibility. WPG has exhibited
moderately better access to the secured mortgage markets as its
assets are generally more productive than CBL's based on sales per
sf. SPG has exhibited market-leading access through-the-cycle to
both the bond and equity markets.

KEY ASSUMPTIONS

Annual SSNOI growth in the negative mid-single-digits in 2019-2021,
driven largely by 700bps of lost occupancy from the beginning of
2019 through 2021;

Annual recurring capital expenditures of ~$75 million;

Annual development/redevelopment spend of $125 million for
2019-2021. The weighted average initial yield on cost for projects
coming online is approximately 6%, which is below the company's
historical returns on development/redevelopment;

Total non-core asset sales of $175 million in 2019 followed by ~$50
million per year in 2020 and 2021, respectively;

Term loan amortization of $35 million annually and $60 million of
mortgage amortization annually from 2019-2021.

RATING SENSITIVITIES

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

Improved financial flexibility stemming from an increase in capital
markets access, including the secured mortgage market, the
unsecured debt market and the public equity market;

Sustained improvement in operating fundamentals (i.e. sustained
positive SSNOI results and/or corporate earnings growth);

Fitch's expectation of UA/UD exceeding 1x;

Fitch's expectation of net debt to recurring operating EBITDA
sustaining below 7.5x;

Fitch's expectation of REIT fixed charge coverage sustaining above
1.25x.

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

Reduced financial flexibility and/or a deteriorating liquidity
profile stemming from significant utilization of line of credit,
difficulty refinancing debts, or a debt restructuring/exchange;

Sustained deterioration in operating fundamentals or asset quality
(i.e. sustained negative SSNOI results and/or corporate earnings
growth);

Fitch's expectation of REIT fixed charge coverage sustaining below
1.25x

Fitch's expectation of UA/UD sustaining below 1x.

LIQUIDITY AND DEBT STRUCTURE

Weak Liquidity Coverage: CBL's base case liquidity coverage ratio
of 0.7x for the period Oct. 1, 2019 to Dec. 31, 2021 is weak, but
sufficient for the rating. In December, CBL suspended its common
and preferred dividends through at least 2020, which has improved
the company's near-term liquidity profile by providing $55 million
of incremental retained cash flow. CBL paid out a combined $207
million in distributions to common and preferred unitholders in
fiscal 2018, and though cash flow generation continues to decline,
the additional cash retention is a credit positive and will support
redevelopment and retenanting efforts across the portfolio.

The company will need to avoid accrual of six or more quarterly
periods of preferred dividends in arrears to prevent preferred
holders from enforcing their ability to nominate two directors to
the board at the next annual meeting. Fitch has anticipated that
the company makes the necessary payments on its preferred equity to
satisfy these requirements.

The company has settled litigation related to allegations of
overcharging tenants for electricity and accrued a liability of
$88.2 million. During 3Q19, the company reduced the settlement
liability by $22.7 million related mostly to past tenants that did
not submit a claim with the remainder related to tenants that opted
out of the lawsuit, and separately paid out a portion of the
accrued liability, which amounted to just over $23 million
subsequent to the end of 3Q19. Fitch anticipates the company will
pay out additional charges to current tenants of $7.5 million per
year over the next five years, which Fitch accounted for in its
analysis of the company's liquidity.

Fitch also includes the company's guaranteed UJV obligations with a
maturity within the 4Q19-2021 analysis period with a 50% discount
to reflect the likelihood that not all obligations will require
servicing by the company.

The company's liquidity coverage improves to 1.1x assuming it
refinances 60% of its secured mortgage maturities through 2021.
Fitch assumed a lower refinancing rate of mortgage debt (60% vs.
80%) than its traditional analysis based on the evidence of
increasing difficulty with refinancing transactions and a growing
need for lender leniency to avoid asset give backs. As of Sept. 30,
2019, the company has $380 million available under its $685 million
secured revolver, which matures July 2023.

Fitch defines liquidity coverage as sources of liquidity divided by
uses of liquidity. Sources include unrestricted cash, availability
under secured revolving credit facilities, and retained cash flow
from operating activities after dividends. Uses include pro rate
debt maturities, expected recurring capital expenditures and
expected (re)development costs.

ESG CONSIDERATIONS

Unless otherwise disclosed in this section, the highest level of
ESG credit relevance is a score of 3. A score of 3 is defined as:
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.


CENTER CITY: SSG Advises St. Christopher's Hospital in Sale
-----------------------------------------------------------
SSG Capital Advisors, LLC ("SSG") acted as the investment banker to
Philadelphia Academic Health System, LLC ("PAHS") and its operating
subsidiaries St. Christopher's Healthcare, LLC and affiliated
physician practice groups ("St. Christopher's" or the "Hospital")
in the sale of substantially all of St. Christopher's assets to an
affiliate of Tower Health ("Tower") and Drexel University
("Drexel").  The sale was effectuated through a Chapter 11 Section
363 process in the U.S. Bankruptcy Court for the District of
Delaware. The transaction closed in December 2019.

Based in Philadelphia, Pennsylvania, St. Christopher's is a fully
accredited children's hospital providing world-class pediatric care
in a child-friendly and family-oriented environment.

St. Christopher's is widely regarded as one of the best children's
hospitals in the nation, having won numerous awards for exceptional
pediatric and emergency care.  Among many other services, the
Hospital operates a Level I Pediatric Trauma Center, a Level III
Neonatal Intensive Care Unit, and a Verified Pediatric Burn
Center.

Historically, the Hospital has achieved strong financial
performance with consistent patient volume.  However, starting in
January 2018, St. Christopher's cash flow was used to support the
losses of Hahnemann University Hospital ("Hahnemann"), another
wholly-owned subsidiary of PAHS.  By July 2019, St. Christopher's
began facing liquidity constraints as a direct result of funding
Hahnemann's operating losses and was forced to seek relief under
Chapter 11 of the U.S. Bankruptcy code along with PAHS and its
other operating subsidiaries.

SSG was retained to explore the strategic alternatives available to
PAHS, St. Christopher's, Hahnemann, and the physician practice
groups associated with each hospital.  Shortly thereafter, SSG
conducted an expedited marketing process and solicited offers from
potential strategic and financial parties.  After an extensive
marketing process and discussion with potential interested parties,
Tower Health and Drexel University's $50 million bid for St.
Christopher's was determined to provide the estate and all
stakeholders with not only the best recovery, but also the
preferred outcome for the future for such a critical children's
hospital.  Tower Health and Drexel will work with the physicians,
medical professionals, students, residents, fellows, and staff of
St. Christopher's to continue their vital work on behalf of the
children and families of Philadelphia.

SSG's special situations expertise and healthcare experience
enabled stakeholders to maximize value, preserve jobs, and maintain
a vital children's hospital in Philadelphia during a complex and
highly publicized sale process.

Tower Health is a fast-growing regional and integrated healthcare
provider system that offers healthcare and wellness services to a
population of 2.5 million people.  With more than 14,000 team
members, Pennsylvania based Tower Health consists of Reading
Hospital in West Reading; Brandywine Hospital in Coatesville;
Chestnut Hill Hospital in Philadelphia; Jennersville Hospital in
West Grove; Phoenixville Hospital in Phoenixville; Pottstown
Hospital in Pottstown; as well as other services and facilities.

Drexel's College of Medicine currently educates more than 2,000
future physicians, residents, biomedical scientists and health
professionals.  It is part of Drexel University, a leading center
for higher learning in Philadelphia.

Other professionals who worked on the transaction include:

    * Allen D. Wilen, Ronald Dreskin and Dion Oglesby of
EisnerAmper LLP, Chief Restructuring Officer and financial advisors
to Philadelphia Academic Health System, LLC and its operating
subsidiaries;

    * Jeffrey C. Hampton, Mark Minuti, Adam H. Isenberg, Monique
Bair DiSabatino and Aaron S. Applebaum of Saul Ewing Arnstein &
Lehr LLP, counsel to Philadelphia Academic Health System, LLC and
its operating subsidiaries;

    * Albert Mezzaroba of Genova Burns LLC, Independent Director to
Philadelphia Academic Health System, LLC and its operating
subsidiaries;

    * Linda McDonough of 50 Words, LLC, strategic communications
advisor to Philadelphia Academic Health System, LLC and its
operating subsidiaries;

    * Joanne M. Judge and Robert Lapowsky of Stevens & Lee, counsel
to Tower Health;

    * Stephen A. Cozen of Cozen O'Connor, counsel to Drexel
University;

    * Jean C. Hemphill, Vincent J. Marriott III and Tobey M. Daluz
of Ballard Spahr LLP, counsel to Drexel University;

    * Andrew H. Sherman and Boris I. Mankovetskiy of Sills Cummis &
Gross P.C., counsel to the Official Committee of Unsecured
Creditors;

    * Thomas M. Horan of Fox Rothschild LLP, counsel to the
Official Committee of Unsecured Creditors;

    * Christopher J. Kearns, Andrew Cowie and H. Haywood Miller of
Berkeley Research Group, LLC, financial advisor to the Official
Committee of Unsecured Creditors;

    * Deborah A. Reperowitz and Gretchen M. Santamour of Stradley
Ronon Stevens & Young, LLP, counsel to MidCap Financial, LLC;

    * Gregory F. Pesce of Kirkland & Ellis LLP, counsel to Tenet
Healthcare Corporation and Conifer Health Solutions, LLC;

    * Laura Davis Jones of Pachulski Stang Ziehl & Jones, counsel
to Tenet Healthcare Corporation and Conifer Health Solutions, LLC;

    * Stuart M. Brown of DLA Piper, counsel for Harrison Street
Real Estate Capital; and

    * David Smith and Richard A. Barkasy of Schnader Harrison Segal
& Lewis LLP, counsel of the Pennsylvania Department of Health.

                   About Center City Healthcare
                d/b/a Hahnemann University Hospital

Center City Healthcare, LLC, is a Delaware limited liability
company that operates Hahnemann University Hospital.  Its parent
company is Philadelphia Academic Health System, LLC, which is also
the parent company of St. Christopher's Healthcare, LLC and its
affiliated physician groups.

Center City Healthcare and its affiliates sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Lead Case No.
19-11466) on June 30, 2019.  At the time of the filing, the Debtors
were estimated to have assets of between $100 million and $500
million and liabilities of the same range.

The cases are assigned to Judge Kevin Gross.

The Debtors tapped Saul Ewing Arnstein & Lehr LLP as legal counsel;
EisnerAmper LLP as restructuring advisor; SSG Advisors, LLC as
investment banker; and Omni Management Group, Inc., as claims and
noticing agent.

Andrew Vara, acting U.S. trustee for Region 3, appointed a
committee of unsecured creditors on July 15, 2019.  The committee
tapped Fox Rothschild LLP as legal counsel; Sills Cummis & Gross
P.C. as co-counsel; and Berkeley Research Group, LLC as financial
advisor.


CHICKENONTHE RUN: Unsecureds to Get 30% of Claims in Plan
---------------------------------------------------------
Chickenonthe Run, Inc., filed a Chapter 11 plan of reorganization
that contemplates that the Debtor will continue in business.

The Debtor does not anticipate the income or expenses will vary
significantly from these numbers throughout the terms of the Plan.
Based upon the projections, the Debtor believes it can service the
new debt to the secured creditor, tax creditors and pay the
dividend to the unsecured creditors.

General Unsecured Creditors in Class 8, with total claims of
$400,000, are impaired.  The Debtor will pay to the Unsecured
Creditors from quarterly payments into the Unsecured Creditors
Pool.  The payments will commence 90 days after the Effective Date
and continue for a period of 20 quarters.  The Debtor will pay
$6,000 per quarter into the Unsecured Creditors Pool to be
distributed pro rata to all unsecured creditors.  The approximate
distribution to Class 8 creditors shall be 30%.

A full-text copy of the Disclosure Statement dated December 16,
2019, is available at https://tinyurl.com/s7g4w6h from
PacerMonitor.com at no charge.

Proposed attorneys for the Debtor:

     ERIC A. LIEPINS
     ERIC A. LIEPINS, P.C.
     12770 Coit Road, Suite 1100
     Dallas, Texas 75251
    (972) 991-5591
    (972) 991-5788 - Telefax

                  About Chickenonthe Run, Inc.

Based in DeSoto, Texas, Chickenonthe Run, Inc., filed a voluntary
petition for relief under Chapter 11 of the United States
Bankruptcy Code (Bankr. N.D. Tex. Case No.19-32377) on July 18,
2019.  The Debtor is represented by  Eric A. Liepins, P.C.


COPACABANA PROPERTIES: Case Summary & 2 Unsecured Creditors
-----------------------------------------------------------
Debtor: Copacabana Properties LLC
        6735 Conroy Rd, Suite 307
        Orlando, FL 32835

Business Description: Copacabana Properties LLC is a Single Asset
                      Real Estate debtor (as defined in 11 U.S.C.
                      Section 101(51B).

Chapter 11 Petition Date: January 7, 2020

Court: United States Bankruptcy Court
       Middle District of Florida

Case No.: 20-00096

Debtor's Counsel: Richard M. Nazareth II, Esq.
                  RICHARD NAZARETH, P.A.
                  124 S. Bumby Ave
                  Orlando, FL 32803-6225
                  Tel: (407) 730-4678
                  E-mail: richard@nazarethlaw.com

Estimated Assets: $500,000 to $1 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Cesar Marino Russo, managing member.

A copy of the petition containing, among other items, a list of the
Debtor's two unsecured creditors is available for free at
PacerMonitor.com at:

                     https://is.gd/xniveS


COUNTRYSIDE PROPERTY: Has Until Feb. 24 to Exclusively File Plan
----------------------------------------------------------------
Judge Robert Mark of the U.S. Bankruptcy Court for the Southern
District of Florida extended the exclusivity period during which
Countryside Property Maintenance, LLC can file a Chapter 11 plan to
Feb. 24 and the period to solicit acceptances for the plan to April
24.   

Countryside Property said it needs additional time to resolve its
objections to claims of creditors, Econosweep Maintenance and
Service, Inc. and Nathan D. Spaulding, and to negotiate a sale of
its assets, which will dictate the terms of its bankruptcy plan.

              About Countryside Property Maintenance

Countryside Property Maintenance, LLC is a commercial property
maintenance company in Florida.  It provides parking lot sweeping,
pressure cleaning and porter services.

Countryside Property Maintenance filed a Chapter 11 petition
(Bankr. S.D. Fla. Case No. 19-15633) on April 29, 2019.  In the
petition signed by Larry Healy, manager, the Debtor estimated $1
million to $10 million in both assets and liabilities.  

The Hon. Robert A. Mark oversees the case. Bradley S. Shraiberg,
Esq., at Shraiberg Landau & Page, P.A., is the Debtor's bankruptcy
counsel.  

No committee of unsecured creditors has been appointed in the
Debtor's case.




CTI INDUSTRIES: Receives Noncompliance Notice from Nasdaq
---------------------------------------------------------
CTI Industries Corporation received a notice on Jan. 2, 2020, of
failure to satisfy a continued listing standard from Nasdaq under
Listing Rules 5620 (a) and 5810 (c) (2) (G).  The Notice indicated
that the Company failed to hold an annual meeting of stockholders
within the required twelve month period.  The Company has 45 days
to submit a plan to regain compliance.  If that plan is accepted,
CTI may be granted up to 180 calendar days from the date of the
letter to evidence compliance.  Failure to regain compliance with
standards for continued listing would result in the ultimate
de-listing of CTI's common stock, ticker symbol "CTIB", from
Nasdaq.  The Company intends to respond with a plan designed to
regain compliance.

                            About CTI

Headquartered in Lake Barrington, Illinois, CTI Industries
Corporation -- www.ctiindustries.com -- manufacturers foil and
latex balloons, develops, produces and markets vacuum sealing
systems for household use, and produces laminated and printed films
for commercial uses.  CTI also distributes Candy Blossoms and other
gift items.  CTI markets its products throughout the United States
and in several other countries.

CTI reported a net loss of $3.74 million for the year ended Dec.
31, 2018, following a net loss of $1.78 million for the year ended
Dec. 31, 2017.  As of Sept. 30, 2019, the Company had $32.90
million in total assets, $28.16 million in total current
liabilities, $2.79 million in total long-term liabilities, and
$1.95 million in total equity.

Plante & Moran, PLLC, in Chicago, Illinois, the Company's auditor
since 2007, issued a "going concern" qualification in its report
dated April 15, 2019, citing that the Company has suffered net
losses from operations and liquidity limitations that raise
substantial doubt about its ability to continue as a going concern.


CVR ENERGY: Fitch Assigns 'BB-' LongTerm IDR, Outlook Stable
------------------------------------------------------------
Fitch Ratings assigned a first-time Long-Term Issuer Default Rating
of 'BB-' to CVR Energy, Inc. The Rating Outlook is Stable. Fitch
has also assigned a 'BB-' rating to the company's proposed $1.1
billion senior unsecured notes due 2025 and 2028. The notes will be
guaranteed by CVI-restricted subsidiaries that operate the
company's refinery business. CVI expects to use the proceeds of the
proposed issuance to repay approximately $500 million debt at CVR
Refining, LLC and Coffeyville Finance, Inc., which is guaranteed by
CVR Refining, LP, and for general corporate purposes.

CVI's ratings reflect its medium-sized operations with a capacity
of 206,500 barrels per day. An average complexity rating of 10.8
and high product yield of 97% compared with its regional peers. The
company has a strong financial profile, with EBIT and EBITDA
margins of 9% and 13% expected in 2019, which support its solid
leverage profile of 0.8x total debt to EBITDA for 2019. CVI's
pro-forma total debt to EBITDA after the proposed issuance and
excluding CVR Partners, LP debt is expected to be approximately
2.3x in 2020. Fitch estimates total debt to EBITDA will be 2.5x on
average over the rated horizon.

KEY RATING DRIVERS

Size and Regional Concentration: CVI's ratings reflect the business
risk associated with its medium-sized operations and location
concentration. CVI's combined nameplate crude oil processing
capacity is 206,500 bpd with an average complexity of 10.8 and its
plants are located in Group 3 of PADD II. The company's two
refineries are strategically located near Cushing, OK, with strong
access to local production across Midwest and large storage
capacity. The company has strong asset portfolio of over 430 miles
of owned and JV pipelines with over 7 million barrels of crude oil
and product storage capacity of 39 LACT units.

Expected Adequate Capital Structure: Fitch estimates CVI gross
leverage, defined as total debt to EBITDA to increase to an average
of 2.5x between 2020 through 2023 from an estimated 0.8x in 2019,
assuming a $1,100 million senior unsecured notes issuance in 2020.
Further, Fitch estimates pro forma EBITDA to interest expense
coverage to average 6.6x over the same time period. Fitch expects
CVI to maintain its capital structure in line with these metrics
and to fund capex over the rating horizon with proceeds from the
issuance and cash flow generation from operations. Fitch expects
the company's high shareholder distribution to not impact its
capital structure going forward.

High Shareholder Distributions: CVI has allocated a material
portion of its cash flows to shareholder distribution. Fitch
estimates the company will pay a total up to $305 million of
dividends in 2019. In third-quarter 2019, the company in announced
a 7% increase in its annual dividend policy of $3.20 per share and
up to $300 million share repurchase program to be executed over a
four-year period. The company is a majority owned by with Icahn
Enterprises L.P., owning approximately 71%, and thus, Fitch's base
case assumes a significant portion of its cash flows to be
distributed to shareholders.

Strong Profitability: CVI's strong refining margin of approximately
$15/bbl in 2018 and in the first nine months of 2019 supports its
strong EBIT and EBITDA margins of 9% and 13%, respectively,
expected in 2019, which are commensurate with a higher rating
category. CVI's current strong refining margins are supported by
its close location to crude oil supply and afforded the company
some room for margin compression, generating robust cash flow from
operations. Fitch estimates EBIT and EBITDA margin average of 4%
and 8% over the rating horizon, and FFO margin to be approximately
5% on average over the same time period.

Sensitivity to Crude Oil Differentials: Fitch believes CVI can
absorb the expected tightening of the WTI-Brent differential as
assumed in Fitch's price deck. In 2018, the company realized a 53%
increase in refining margins. As of the first nine months 2019, the
company reported a refining margin of $16.18 per barrel. Fitch's
base case assumes a decrease in refining margins to its historical
mean and then adjusted by inflation over the rated horizon. The
company may further benefit by acquiring WTI at a discount due to
its strategic location, which would further improve margins.

IMO 2020: In addition to light crude spreads, CVI is well situated
to benefit from International Maritime Organization (IMO) 2020
rules, which will cut allowed sulfur emissions in marine fuel oil
to 0.5% from 3.5%. Fitch expects the rules will provide a material
boost to diesel margins, as well as pressure heavy fuel oil prices.
CVI is well positioned to take advantage of both trends due to its
high distillate yield of 44% over the last twelve months and
sizable coking capacity, which can run large amounts of residual
fuel oil and heavy crudes.

Unfavorable Regulations: U.S. refiners face a number of unfavorable
regulatory headwinds that will cap long-term demand for U.S.
refined product, including rising renewable requirements under the
renewable fuel standard (RFS) program, higher corporate average
fuel economy standards and regulation of greenhouse gases on the
federal and state levels as a pollutant. These are expected to
limit growth in domestic product demand and keep the industry
reliant on exports to maintain full utilization. The industry has
seen regulatory relief under the current administration, including
small refinery waivers for the RFS programs, which resulted in a
significant drop in renewables credits (RIN) prices that benefitted
all refiners. CVI has been reducing its RIN exposure through
increased biodiesel blending. As of first-half 2019 (1H19), the
company's internal RIN's generation increased by 21% from 18% in
1H18.

High-Volatility Sector: Refining remains one of the most cyclical
corporate sectors, and is subject to periods of boom and bust, with
sharp swings in crack spreads over the cycle. The last major bust
period was 2009, when collapsing oil prices and lagging costs led
industry margins to collapse. The rebound in market conditions was
also relatively quick, however, as the industry tends to adjust
rapidly. The sector has benefited in recent years by lower crude
oil prices as well as rapid increase in U.S. crude oil production,
which has widen the WTI-Brent price differential as a result of
transportation constrains.

Macroeconomic Concerns: Deceleration in the global economy has
created forward risks for the refining sector. Fitch expects global
growth will decline to 2.6% in 2019 from 3.2% in 2018, the sharpest
fall since 2011, and slow further to 2.5% in 2020 due to the
U.S.-China trade war. Weaker global demand also led to negative
revisions in the IEA's forecast oil demand growth. While Fitch's
base case anticipates low but reasonable growth, a more severe
recessionary environment could require downward adjustments to
industry runs and product prices to balance markets.

DERIVATION SUMMARY

CVI's ratings reflect its status as a medium sized Mid-Continent
complex refinery with two refineries and approximately 206,500
barrels of nameplate capacity. CVI's refining capacity is smaller
than its peers Valero (BBB/Stable) with 2.6 million bpd, Marathon
Petroleum Corporation (BBB/Stable) with 3.0 million bpd, Phillips
66 with 1.9 million bpd, PBF Logistics LP (BB/Stable) with 1.04
million bpd and HollyFrontier with 457,000 boepd.

CVI's refining asset quality is strong and advantaged in several
ways, including geographically (concentration of price-advantaged
capacity in Mid-Continents); operationally (flexibility to take
advantage of light, heavy and sour crude); leverage to IMO 2020;
and ongoing access to low-cost U.S. natural gas and power prices.

CVI's reported year-end EBITDA margins for 2018 of 11.5% were
higher than its peers Valero and Phillips 66 with 6.0% and in line
with HollyFrontier at 11.9%. CVI's expected gross leverage, defined
as total debt to EBITDA, for 2019 is 0.8x, below the average of
1.5x for the same peers.

KEY ASSUMPTIONS

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

  - WTI oil prices of $57.50/barrel in 2020, and $55
    thereafter;

  - Crack spreads average 22% of Fitch's WTI Price deck
    plus adjusted for inflation over the forecast but adjusted
    for positive IMO effects;

  - Shareholder distribution of an average of $320 million per
    year between dividends 2020 through 2023;

  - Total capex of $1.1 billion from 2020 through 2023;

  - A $1.1 billion note to be issued in 2020. The proceeds are
    to refinance existing $500 million bond and capex.

RATING SENSITIVITIES

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

  -- Greater earnings diversification or evidence of lower
     cash flow volatility;

  -- Sustained debt/EBITDA leverage at or below 2.0x.

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

  -- Sustained debt/EBITDA leverage above approximately 3.5x;

  -- A disproportionate increase in dividends and share repurchase
     program to cash flow generation.

LIQUIDITY AND DEBT STRUCTURE

Adequate Liquidity: As of Sept. 30, 2019, CVI had total liquidity
of $1,133 million, which consisted of $692 million of cash and $441
million of availability under credit facilities. CVR has two credit
facilities. The nitrogen fertilizer segment has an AB credit
facility, which is a senior secured asset-based revolving credit
facility with a commitment amount of $50 million due September
2021. Additionally, CVR Refining has a $400 million senior secured
ABL credit facility due in November 2022. At Sept. 30, 2019, CVR
had $48 million available under the AB credit facility and $393
available under the ABL credit facility.

Manageable Maturities: Fitch believes the proposed transaction
extends CVR's maturity profile and provides great near-term
headroom. Following the repayment of the $500 due in November 2022
(expected as part of the proposed transaction), CVR's first
maturity will be $650 million in 2023 (issued by CVR Partners). The
new notes are expected to be due in 2025 and 2028.

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.

CVR has an ESG Relevance Score of 4 for Governance Structure as
Icahn Enterprise L.P. owns approximately 71% of the voting power of
the common stock, creating substantial ownership concentration.
This has a negative impact on the credit profile and is relevant to
the rating in conjunction with other factors.


CVR ENERGY: Moody's Assigns Ba3 Corp. Family Rating, Outlook Stable
-------------------------------------------------------------------
Moody's Investors Service assigned first time ratings to CVR Energy
Inc., including a Ba3 Corporate Family Rating, Ba3-PD probability
of default rating, SGL-1 Speculative Grade Liquidity Rating and B1
rating on its new senior unsecured guaranteed notes. The outlook on
the ratings is stable.

On January 7, 2020, concurrently with the offering of the new
notes, CVI announced a conditional call to purchase outstanding
senior unsecured notes issued by its subsidiary CVR Refining, LLC
(Ba3 stable). Upon closing of the offer and repayment of its notes,
Moody's will withdraw all ratings of CVR Refining, LLC.

Assignments:

Issuer: CVR Energy Inc.

Corporate Family Rating, Assigned Ba3

Probability of Default Rating, Assigned Ba3-PD

Speculative Grade Liquidity Rating, Assigned SGL-1

Senior Unsecured Regular Bond/Debenture, Assigned B1 (LGD4)

Outlook Actions:

Issuer: CVR Energy Inc.

Outlook, Assigned Stable

RATINGS RATIONALE

CVI is a publicly traded company that holds refining operations,
organized under its wholly owned subsidiary CVR and nitrogen
fertilizer operations through its interest in CVR Partners, LP
(CVRP, B2 stable) a master limited partnership which is
approximately 34% owned by CVI. Icahn Enterprises L.P. and its
affiliates own approximately 71% of CVI's outstanding common
stock.

CVI's Ba3 corporate family rating largely reflects a solid credit
profile of its refining operations that contributed 87% of its
consolidated reported EBITDA as of September 30, 2019. On a
consolidated basis, Moody's positively factors diversification of
CVI's business portfolio into nitrogen fertilizer operations, yet
the credit positive impact is currently offset by high leverage
carried by CVRP.

CVI's CFR is further underpinned by good operating track record and
profitability of its two well located and well managed
Mid-Continent refineries. This partially mitigates risks associated
with lack of diversification in the refining operations, modest
size of the refining operations and high volatility of earnings,
driven by the inherent volatility of crack spreads, incidences of
scheduled and unscheduled downtime, and the potential for
regulatory and environmental capital spending requirements, typical
for wholesale refining companies.

The CFR also considers projected leverage following the placement
of the new notes and some organic growth and maintenance investment
in the near term, including the next turnaround at the larger
Coffeyville refinery in 2020. Assuming continued strong operating
performance in 2020, Moody's expects CVI to maintain solid
financial leverage, with consolidated debt/EBITDA below 3x
debt/EBITDA.

CVI has a shareholder friendly balance in its financial policy,
reflected in the relatively high dividend payout ratio offered by
CVI and the existing share repurchase authorization. The rating
however also acknowledges significant cash balances maintained by
the refining operation that continue to support strong liquidity
and operations of CVI.

Rating Outlook

The stable outlook on the ratings reflects Moody's expectation of
sustained strong performance in 2020, outside of the planned
maintenance activities, that will support solid operating cash flow
generation at the refining facilities.

The rating could be upgraded if CVI increases its scale and
diversification of refining assets and cash flow without
significantly increasing leverage.

The rating could be downgraded if leverage increases above 3x
debt/EBITDA due to an acquisition, change in financial policy,
including aggressive cash distributions funded by debt, or if there
is a prolonged deterioration in operating conditions, or if its
liquidity deteriorates.

Liquidity

CVI maintains strong liquidity, supported by distributions from its
refining operations, as well as dividends received from the
nitrogen fertilizer MLP. As of September 30, 2019, CVI reported
consolidated cash balances of $692 million, $393 million available
under CVR's $400 million 2022 ABL Credit Facility and $48 million
available under CVRP's $50 million 2021 asset backed Credit
Facility.

CVR's liquidity position remains strong and is supported by solid
operating cash flow generation that should substantially cover its
operating and maintenance investment and current level of dividends
to CVI in 2020. CVR has a significant working capital reliance on a
crude supply agreement with Vitol, which reduces CVR's need to
maintain a larger revolver, and would strain CVR's revolver if
terminated. Moody's expects the company to use its balance sheet
cash and cash flow from operations to fund its cash needs through
the end of 2020.

Structural Considerations

The assigned Ba3 corporate family rating is based on the assumption
that CVI's capacity to service obligations under the new notes will
be substantially supported by its refining operations. The new
notes will benefit from senior unsecured guarantees provided by
refining operating companies, while the new capital structure and
terms of the new notes will continue to restrict recourse to assets
and cash flows of the refining operations by creditors of CVRP and
its subsidiaries.

The assigned B1 rating on the new senior unsecured guaranteed notes
is positioned one notch below the Ba3 corporate family rating and
reflects the priority ranking of CVR's $400 million asset backed
senior secured loan facility maturing in November 2022.

The principal methodology used in these ratings was Refining and
Marketing Industry published in November 2016.



DATUM TECHNOLOGIES: Cash Collateral Use Approved on Final Basis
---------------------------------------------------------------
Judge Catherine Peek McEwen of the U.S. Bankruptcy Court for the
Middle District of Florida authorized Datum Technologies LLC's use
of cash collateral on a final basis.

The Debtor is authorized to use cash collateral including, without
limitation, cash, funds in its deposit account, and accounts
receivable, to pay: (a) amounts to the U.S. Trustee for quarterly
fees; (b) the current and necessary expenses set forth in the
budget, plus an amount not to exceed 10% for each line item and 10%
on a cumulative basis; and (c) any other expense approved in
writing by QF Debt Holdings, LLC (the "Lender").

Each creditor, including the Lender, with a security interest in
cash collateral are granted a perfected post-petition lien against
cash collateral to the same extent and with the same validity and
priority as the prepetition lien, without the need to file or
execute any document as may otherwise be required under applicable
non bankruptcy law.

In addition, the Debtor will maintain insurance coverage for its
property in accordance with the obligations under the loan and
security documents with the Lender.  The Debtor will also grant
Lender access to Debtor's business records and premises for
inspection from time to time and provide to Lender an income
statement on a cash basis showing actual results versus the Budget,
and such other information regarding Debtor's operations as Lender
may reasonably request.

                   About Datum Technologies

Datum Technologies LLC -- https://www.datumtechnologies.com/ -- is
an IT services company focused on the multi-unit restaurant
industry, managing both restaurant and corporate level technology
throughout the United States. At the store level, the Company
implements, supports, and maintains a variety of points-of-sale
(POS), back office platforms, and integrations (online ordering,
loyalty, gift cards, kitchen video).  At the corporate level, it
supports above-store platforms for menu management and reporting,
along with business networking, servers, telecommunications,
desktop & peripheral products.

Datum Technologies sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. M.D. Fla. Case No. 19-09507) on Oct. 7,
2019.  In the petition signed by CEO Rafael Alfonzo, the Debtor
disclosed $1,164,551 in assets and $9,846,580 in debt.  Lori V.
Vaughan, Esq. at TRENAM LAW serves as the Debtor's counsel.



DEAN FOODS: Committee Seeks to Hire Akin Gump as Legal Counsel
--------------------------------------------------------------
The official committee of unsecured creditors of Southern Foods
Group, LLC seeks approval from the U.S. Bankruptcy Court for the
Southern District of Texas to hire Akin Gump Strauss Hauer & Feld
LLP as its legal counsel.
   
The firm will provide these services in connection with the Chapter
11 cases filed by Southern Foods (which conducts business under the
name Dean Foods) and its affiliates:

     (a) advise the committee of its rights, duties and powers in
the Debtors' bankruptcy cases;

     (b) assist the committee in its consultations and negotiations
with the Debtors and other parties in interest relative to the
administration of the cases;

     (c) analyze claims of creditors and the Debtors' capital
structure and negotiate with holders of claims and equity
interests;  

     (d) investigate the acts, conduct, assets, liabilities,
financial condition and businesses of the Debtors;  

     (e) assist the committee in its analysis of, and negotiations
with, the Debtors or any third party concerning matters related to,
among other things, the assumption or rejection of leases and
executory contracts, asset dispositions,sale transactions,
financing transactions, and the terms of a plan of reorganization;


     (f) advise the committee as to its communications to the
general creditor body;  

     (g) represent the committee at all hearings and other
proceedings before the bankruptcy court;  

     (h) review applications, orders, statements of operations and
schedules filed with the court;  

     (i) advise the committee of any legislative, regulatory or
governmental activities;  

     (j) review the Debtors' various agreements; and

     (k) investigate and analyze claims belonging to the Debtors'
estates.

The firm's hourly fees are:

                          2019 Range      2020 Range
                         -------------   -------------
     Partners            $925 – $1,755   $995 – $1,995
     Counsel             $610 – $1,420   $735 – $1,510
     Associates            $510 – $975   $535 – $1,070
     Paraprofessionals     $115 – $435     $100 – $455  
  
Philip C. Dublin, Esq., a partner at Akin Gump, disclosed in court
filings that the firm is "disinterested" within the meaning of
Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Philip C. Dublin, Esq.
     Akin Gump Strauss Hauer & Feld LLP
     One Bryant Park
     Bank of America Tower
     New York, NY 10036-6745
     Tel: +1 212.872.8083 / +1 212.872.1000
     Fax: +1 212.872.1002
     Email: pdublin@akingump.com
            newyorkinfo@akingump.com

                    About Southern Foods Group
                          dba Dean Foods

Southern Foods Group, LLC, which conducts business under the name
Dean Foods, is a food and beverage company and a processor and
direct-to-store distributor of fresh fluid milk and other dairy and
dairy case products in the United States.

Southern Foods and its affiliates filed for bankruptcy protection
on Nov. 12, 2019 (Bankr. S.D. Texas, Lead Case No. 19-36313). The
petitions were signed by Gary Rahlfs, senior vice president and
chief financial officer. Judge David Jones presides over the
cases.

The Debtors posted estimated assets and liabilities of $1 billion
to $10 billion.

The Debtors tapped David Polk & Wardell LLPas general bankruptcy
counsel; Norton Rose Fulbright US LLP as local counsel; Alvarez
Marsal as financial advisor; Evercore Group LLC as investment
banker; and Epiq Corporate Restructuring LLC as notice and claims
agent.

The Office of the U.S. Trustee appointed creditors to serve on the
official committee of unsecured creditors on Nov. 22, 2019.  The
committee is represented by Philip C. Dublin, Esq., at Akin Gump
Strauss Hauer & Feld LLP.


DIOCESE OF WINONA: Taps Insurance Archaeology as Insurance Agent
----------------------------------------------------------------
Diocese of Winona-Rochester seeks authority from the U.S.
Bankruptcy Court for the District of Minnesota to employ Insurance
Archaeology Group, as insurance agent to the Debtor.

Diocese of Winona requires Insurance Archaeology to:

   (a) analyze, review, and research the pre-1967 historic
       insurance coverage of the Debtor and the identity of the
       insureds for all coverage;

   (b) assist the Debtor in determining what insurance and
       related business records exist;

   (c) assist the Debtor in locating and identifying sources of
       information with respect to insurance coverage and related
       records; and

   (d) provide related advice and assistance to the Debtor as
       necessary.

Insurance Archaeology will be paid at the hourly rates of 175 to
$350.

Insurance Archaeology will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Michele Pierro, vice president of Insurance Archaeology Group,
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.

Insurance Archaeology can be reached at:

     Michele Pierro
     Insurance Archaeology Group
     75 Orient Way, Suite 302
     Rutherford, NJ 07070
     Tel: (212) 697-2680
     Fax: (212) 697-4354

              About Diocese of Winona-Rochester

The Diocese of Winona-Rochester was established on Nov. 26, 1889
when Pope Leo XIII issued the apostolic constitution which erected
the diocese, and set its geographical boundaries. The Diocese
encompasses the 20 southernmost counties of the state of Minnesota
and measures 12,282 square miles. The Diocese is home to 107
parishes, four high schools, 30 junior high, elementary or
preschools, and Immaculate Heart of Mary Seminary in Winona. The
Diocese of Winona-Rochester is headquartered at the Diocesan
Pastoral Center in Winona, Minnesota.

The Diocese of Winona-Rochester sought protection under Chapter 11
of the US Bankruptcy Code (Bankr. D. Minn. Case No. 18-33707) on
Nov. 30, 2018. In the petition signed by Reverend Monsignor Thomas
P. Melvin, vicar general, the Debtor estimated $10 million to $50
million in assets and $1 million to $10 million in liabilities as
of the bankruptcy filing.

The case is assigned to Judge Robert J. Kressel. Bodman PLC is the
Debtor's bankruptcy counsel.

Restovich Braun & Associates, led by Christopher W. Coon, is the
local counsel.  Alliance Management, LLC, is the financial
consultant.

The U.S. Trustee for Region 12 on Dec. 19, 2018, appointed five
creditors to serve on the official committee of unsecured creditors
in the Chapter 11 case of Diocese of Winona-Rochester.

The Official Committee of Unsecured Creditors formed in the case
retained Stinson Leonard Street LLP as its bankruptcy counsel.


EDUCATION CORP. OF AMERICA: Creditors File Involuntary Petition
---------------------------------------------------------------
Creditors have filed an involuntary Chapter 11 bankruptcy petition
against defunct Education Corp. of America.  Becky Yerak, writing
for The Wall Street Journal, reports that a lender, a landlord and
a crisis communications firm filed papers in the U.S. Bankruptcy
Court in Wilmington, Del., claiming the company isn't paying its
debts as they come due. Monroe Capital LLC, BSF Richmond LP and
Reputation Partners LLC said in the filing they are owed a total of
$3 million.

The involuntary petition was filed for more than a year after the
for-profit college chain shut down, leaving roughly 20,000 students
in the lurch, WSJ notes.

On October 18, 2018, VC Macon GA LLC filed a Complaint in the
United States District Court for the Middle District of Georgia
(Case No. 18-00388).  On November 14, 2018, John F. Kennedy was
appointed as the Receiver for Education Corporation  of America.
Information on the receivership proceedings is available at
https://is.gd/OHabaz


FIZZICS GROUP: Unsec. Creditors to Recover 10% to 16% in Plan
-------------------------------------------------------------
Fizzics Group, Inc., debtor and debtor in possession (the
“Debtor”) has filed its Plan of Reorganization of the Debtor
Pursuant to Chapter 11 of the Bankruptcy Code.

As an emerging company, since its inception, Fizzics has relied on
continued cash infusions from investors, crowdfunding and
commercial lenders to fund operations. Fizzics historically has not
been able to finance itself solely from its operational cash
flows.

On or about September 25, 2018 and November 9, 2018, Fizzics
entered into factoring agreements (the "Factoring Agreement") with
Reliant Funding, whereby Fizzics agreed to sell to Reliant $179,400
worth of outstanding receivables for the sum of $131,700. Reliant
filed a UCC-1 security statement relating to the Factoring
Agreements, purporting to secure the receivables, though the sale
of receivables was characterized as an outright sale, not a secured
transaction.  Fizzics therefore believes that, despite the
existence of the security statement, its obligation to Reliant is
wholly unsecured.  As a result of the Factoring Agreements, on a
daily basis, Reliant swept the amount of approximately $949.30 from
Fizzics's account. The current total balance owed to Reliant is
approximately $83,000.00.

The Plan proposes to treat claims as follows:

  * Class 1 - Claim of Reliant.  IMPAIRED.  Estimated claim
$83,000.  Estimated distribution: Either (a) 100% if adjudicated to
be secured or (b) approximately 10.47% if not.

  * Class 2 - Unsecured Claims.  IMPAIRED.  Estimated claim between
$911,534.69 and $1,432,988.92.  Estimated distribution Depending on
Claims Objections, between approximately 10.47% (if Reliant is
adjudicated to be unsecured and all Claims are allowed) and 16.40%
(if Reliant is adjudicated to be secured and all Claims Objections
are granted). Each Class 2 Allowed General Unsecured Claim, the
Holders of an Allowed General Unsecured Claim in Class 2 (not
including Reliant, to the extent its Claim is determined to be a
General Unsecured Claim; and not including the General Unsecured
Claims of the Chief Executive Officer and Chief Technology Officer,
which are waived) shall receive two (2) cash distributions, as
follows: (a) a cash distribution on or before the first anniversary
of the Effective Date based on the Allowed General Unsecured Claim
Holder’s pro rata share of fifty thousand dollars ($50,000.00);
and (b) a cash distribution on or before the first anniversary of
the Effective Date based on the Allowed General Unsecured Claim
Holder’s pro rata share of one hundred thousand dollars
($100,000.00).

  * Class 3 - Priority Claims.  IMPAIRED.  Estimated claim
$31,250.00.  Estimated distribution: A distribution of a total of
1.0% of the equity in the Reorganized Debtor on the Effective
Date.c

The remaining Stock in the Reorganized Debtor shall be held by the
Reorganized Debtor for new investment, and/or the employee
incentive plan.

A full-text copy of the Amended Disclosure Statement dated December
16, 2019, is available at https://tinyurl.com/wvgku94 from
PacerMonitor.com at no charge.

Counsel to the Debtor:

     David M. Klauder
     BIELLI & KLAUDER, LLC
     1204 N. King Street
     Wilmington, DE 19801
     Phone: (302) 803-4600
     Fax: (302) 397-2557
     E-mail: dklauder@bk-legal.com

                     About Fizzics Group

Fizzics Group, Inc. -- http://www.fizzics.com/-- is a technology
platform company that developed portable draft beer systems to
improve the flavor and taste of can, bottle or growler of beer to
brewery fresh.  It utilizes patented sonic wave technology to
deliver the fresh taste of draft from any can or bottle of beer.  

Fizzics Group sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. Del. Case No. 19-10545) on March 12, 2019.  At the
time of the filing, the Debtor had estimated assets of less than
$500,000 and liabilities of $1 million to $10 million.  David M.
Klauder, Esq., at Bielli & Klauder, LLC, is the Debtor's legal
counsel.


FSB REALTY: Case Summary & 2 Unsecured Creditors
------------------------------------------------
Debtor: FSB Realty Services, LLC
        1200 Jefferson Rd.
        Suite 305
        Rochester, NY 14623

Business Description: FSB Realty Services, LLC --
                      http://fsbrealty.com/-- is a full-service
                      brokerage, development, and property
                      management firm founded in 1987.  FSB Realty
                      is knowledgeable in all facets of
                      commercial transactions including retail,
                      manufacturing, flex, office, and raw land
                      development.

Chapter 11 Petition Date: January 7, 2020

Court: United States Bankruptcy Court
       Western District of New York

Case No.: 20-20015

Judge: Hon. Warren, USBJ

Debtor's Counsel: Mike Krueger, Esq.
                  DIBBLE & MILLER, P.C.
                  55 Canterbury Rd.
                  Rochester, NY 14607
                  Tel: 585-271-1500
                  E-mail: mjk@dibblelaw.com

Total Assets: $5,220,969

Total Liabilities: $834,163

The petition was signed by Terrance Bromley, president.

A copy of the petition containing, among other items, a list of the
Debtor's two unsecured creditors is available for free at
PacerMonitor.com at:

                    https://is.gd/dMriJM


GEOPARK LIMITED: Fitch Rates New $350MM Notes Due 2027 'B+'
-----------------------------------------------------------
Fitch Ratings assigned a 'B+'/'RR4' rating to GeoPark Limited's
proposed up to USD350 million notes due 2027. GeoPark plans to use
the proceeds from the issuance to finance its recently announced
acquisition of Amerisur Resources and general corporate purposes.
Fitch currently rates GeoPark Limited's Long-Term Foreign and Local
Currency Issuer Default Ratings IDRs 'B+'/ Outlook Stable, and
USD425 million senior notes due 2024 'B+'/'RR4'.

GeoPark's ratings reflect the company's track record of increasing
production and improving reserve life, and ability to implement an
effective cost-reduction plan. Fitch's base case scenario expects
that GeoPark will reach production of nearly 50,000 barrels of oil
equivalent per day (boed) by 2020-2021, and will have an average
pro-forma total adjusted debt/operating EBITDAR of below 2.0x over
the rate horizon.

Despite strong operating metrics, the ratings remain constrained by
the company's relatively small size and the low diversification of
its oil fields. Increasing production levels while maintaining its
reserve life and capital structure at existing levels bodes well
for GeoPark's credit quality. The rating also reflects Fitch's
expectations that GeoPark will continue to strengthen its capital
structure following a deleveraging process that could result in net
leverage below 1.0x on average.

KEY RATING DRIVERS

Small Production Profile: GeoPark's ratings remain constrained by
its relative small size of operations and the low diversification
of its oilfields, despite its growing production profile. Fitch
expects GeoPark's daily production to increase yoy, reaching close
to 50,000 boed by 2020-2021. During 2018, the company reported an
increase of 31% in Oil and Gas production reaching an average of
36,027 boed; Fitch expects it to surpass 40,000 boed by the end of
2019. Fitch estimates the acquisition of Amerisur Resources will
add nearly 7,000 boed of production, growing its production profile
on a pro-forma basis to approximately 50,000 boed in 2020.

Adequate Reserve Life: GeoPark maintains an adequate reserve life,
and Fitch does not currently consider it a constraining factor for
the company's ratings. As of Dec. 31, 2018, GeoPark had proved,
developed and producing (PDP) oil and gas reserves of 44.2 million
barrels of equivalent (mmboe), while its proved reserves (1P)
totaled 114 mmboe; this translates into a 1P reserve life of 7.8
years when applying 2019 average production. Fitch estimates the
company's reserve pro-forma reserve life will decrease modestly to
7.6 years when incorporating Amerisur's reported 15 million of 1P
reserves in 2018, which does not consider any exploration success
in 2019.

Strong Capital Structure: Fitch estimates GeoPark will end 2019 at
1.2x total debt to EBITDA with interest coverage of 12.9x. On a
pro-form basis assuming the conclusion of the UD350 million senior
notes issuance due 2027, Fitch estimates 2020 total debt to EBITDA
will be 1.7x and remain below 2.0x through the rating horizon,
assuming the company continues to fund investment with internal
cash flow. A more aggressive development strategy could result in
additional debt; however, the company has significant headroom at
its current levels relative to its rating category. As of third
quarter 2019, GeoPark's only maturity is its USD425 million bond in
3Q 2024. Fitch estimates GeoPark has total debt to 1P in reserves
of USD3.8boe, and a pro forma total debt to 1P incorporating
Amerisur and the proposed issuance of USD5.98boe.

Effective Cost Producer: Fitch expects that the company will
continue to maintain its cost efficient production profile in the
low oil price environment. GeoPark's competitive advantages are
derived from its operations in onshore and growing oilfields, which
results in lower exploration costs, partially driven by its low
transportation costs by selling at the wellhead, than big players
in the region. In 2019, Fitch estimates GeoPark reduced its half
cycle cost by nearly 30% yoy to $10.1/boe and full-cycle costs by
3% to USD17.5/boe. Since 2015, the company has focused on lower
risk projects and concentrated production in Colombia, specifically
in the Tigana and Jacana oil fields in the Llanos 34 block. In
2018, the company continued its focus on preserving a solid cash
position by reducing capex, drilling costs and operating expenses.

Diversifying Away from Main Asset: Fitch believes GeoPark is
diversifying away from its principal asset (Llanos 34), which
represented 85% of total production with the acquisition of
Amerisur Resources, its recent acquisition of blocks in Llanos and
expansion into Ecuador, Peru and Argentina. In March 2019, the
company announced its entry into Ecuador through the acquisition of
the Espejo and Perico blocks 50/50 with Frontera Energy
(B+/Negative). The Oriente basin is one of the most prolific
petroleum systems in Latin America, currently producing more than
500,000 boepd. In Peru, the company drilled two wells presenting a
combined production rate of up to 7,500 boepd of light oil and
booked reserves of 18.5 mmbbl in its Morona block in the Maranon
basin. Lastly, in 2018 GeoPark acquired Aguada Baguales, El
Porvenir and Puesto Touquet Blocks in Argentina, which are located
in the Neuquen Basin for USD52 million.

DERIVATION SUMMARY

GeoPark's 'B+' rating reflects the company's track record of
increasing production to an average of 36,027 boepd in 2018, amid
the past downturn in the oil and gas industry, and its proven
ability to maintain an effective cost reduction plan in growing
oilfields. The ratings also reflect Fitch's expectation that the
company will be able to maintain and grow its production size
further diversifying its asset base away from Colombia and maintain
and potentially further reduce production costs in the medium and
long term.

GeoPark's production size compares favorably to other 'B' rated oil
and gas E&P producers, which continues to constrain its rating to
the 'B' category. These peers include Frontera Energy
(B+/Negative), Gran Tierra Energy (B/Positive) and Compania General
de Combustibles (CGC, CCC). Over the rated horizon, Fitch expects
that GeoPark will reach nearly 50,000 boed by 2020-21 higher than
Gran Tierra and CGC, both expected to be nearly 40,000 boed, but
less than Frontera Energy 70,000 boed. Further, GeoPark reported
114 million boe 1P reserves at the end of 2018, equal to a reserve
life of 7.8 years and higher than Frontera Energy's 4.5 years, Gran
Tierra's 5.7 years and CGC's 5.0 years. GeoPark has a strong
reserve base, and Fitch estimates the company will be able to
maintain its reserve life of greater than seven years as it
continues to increase production size.

GeoPark's has a strong capital structure. Fitch expects gross
leverage to decline to approximately 1.2x in 2019 as a result of
increased production and improved prices. GeoPark's leverage is
strong and compares favorably to CGC at 2.1x and Gran Tierra at
1.7x, but is slightly higher than Frontera at 0.5x. The company's
total debt to 1P of reserves is USD3.82boe, slightly higher than
Frontera's at USD3.00boe, Gran Tierra at USD10.31boe and CGC at
UD7.50boe. On a pro forma basis, after the acquisition and proposed
issuance, Fitch estimates GeoPark's total debt to 1P of reserves to
be USD5.98boe, remaining lower than its peer, with the exception of
Frontera Energy.

KEY ASSUMPTIONS

Fitch's Key Assumptions Within Its Rating Case for the Issuer
123456789012345678901234567890123456789012345678901234567890123456
  -- Fitch's price deck per barrel of Brent oil of USD63.44 in
     2019, USD62.50 in 2020, USD60.00 in 2021 and USD57.50
     thereafter;

  -- Production of approximately 40,000 boed in 2019;

  -- Amerisur Resource acquisition will add ~7,000 bbld of
     production and 15 million of barrels in 1P reserves

  -- Annual production increasing at a steady pace for the
     next four years reaching nearly 50,000 boed in 2020-21;

  -- Half cycle costs averaging USD13boe with an average EBITDA
     per boe of USD22;

  -- Average annual capex of USD150 million from 2019-2021;

  -- Annual dividends payments of USD10 million from 2020-2022.

RATING SENSITIVITIES

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

  -- Net production rising consistently to 75,000 boed on a
     sustained basis while maintaining a total debt to 1P
     reserves of $8bbl or below; and

  -- Reserve life is unaffected as a result of production
     increase at approximately 10 years.

  -- Company's ability to maintain a conservative financial
     profile with gross leverage of 2.5x or below;

  -- Cash flow generated from take-or-pay contracts from high
     quality off-takers covering interest expense by 1.0x;

  -- Diversification of operations and improvements in realized
     oil and gas differentials.

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

  -- Sustainable production size decreased to below 30,000 boed;

  -- Reserve life decreased to below seven years on a sustained
     basis;

  -- A significant deterioration of credit metrics to total
     debt/EBITDA of 3.0x or more;

  -- A persistently weak oil and gas pricing environment that
     impairs the longer-term value of its reserve base or a
     reduction in reserves due to a change in the Peruvian
     concession.

LIQUIDITY AND DEBT STRUCTURE

Adequate Liquidity: As of Sept. 30, 2019, GeoPark had cash on hand
of USD82 million, which covers its interest expense nearly through
the end of 2021. The company does not have any major maturities
until its USD425 million bond comes due in 2024. Fitch estimates
the company will finance capex through operating cash flow over the
rating horizon.

ESG CONSIDERATIONS

Unless otherwise disclosed in this section, the highest level of
ESG credit relevance is a score of 3.0. 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.


HADDINGTON FUND: Hires Jones Allen as Special Counsel
-----------------------------------------------------
Haddington Fund, LP, seeks authority from the U.S. Bankruptcy Court
for the Eastern District of Texas to employ Jones Allen & Fuquay,
LLP, as special counsel to the Debtor.

Haddington Fund requires Jones Allen to represent and assist the
Debtor in an appeal of a judgment pending before the 5th Appellate
Court Dallas Texas, styled as Haddington Fund, LP and JW Wealth
Wanagement, LLC v. Bradley S. Kidwell Family LP, Scott Bradley
Kidwell, and Mary Coe Kidwell, Case N. 05-19-01202-CV.

Jones Allen will be paid at these hourly rates:

     Lindy Jones                  $475
     Laura Worsham                $440
     Paralegals                   $135

Jones Allen will be paid a retainer in the amount of $5,000.

Jones Allen will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Laura Worsham, a partner at Jones Allen & Fuquay, 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.

Jones Allen can be reached at:

     Laura Worsham, Esq.
     JONES ALLEN & FUQUAY, LLP
     8828 Greenville Ave.
     Dallas, TX 75243
     Tel: (214) 343-7400
     Fax: (214) 343-7455

                   About Haddington Fund

Haddington Fund L.P. filed for Chapter 11 bankruptcy protection
(Bankr. E.D. Tex. Case No. 19-42853) on Oct. 21, 2019.  In its
petition, the Debtor was estimated to have $1 million to $10
million in both assets and liabilities.  The petition was signed by
James Bresnahan, managing member of general partner.  The Hon.
Brenda T. Rhoades oversees the case.  The Debtor tapped Eric A.
Liepins, Esq., at Eric A. Liepins, P.C., as bankruptcy counsel, and
Jones Allen & Fuquay, LLP, as special counsel.


HAMLETT ENTERPRISES: Unsecureds to Recover 25% in 5-Year Plan
-------------------------------------------------------------
According to its Second Amended Disclosure Statement, motel
operator Hamlett Enterprises Inc., is proposing a Chapter 11 plan
that provides that:

  * Secured creditors will receive monthly payments at their
contract interest rate and payments of interest only for the first
12 months followed by payments of principal and interest amortized
over 30 years with a balloon payment at the end of the 60th month
in an amount equal to each secured creditor's outstanding balance
as of the end of the 60th month following the Effective Date of the
Plan.  It also provides that if secured creditors desire an early
payoff, they can make that election, at a substantial discount, and
the Debtor can prepay, at its option, in the 24th month of the
Plan.

  * Administrative creditors will be paid in full in equal monthly
installments over the first two years after the Effective Date.

  * Priority unsecured tax creditors will be paid fully amortized
principal and interest payments over the 48 months following the
Effective Date of the Plan, with a balloon for the remaining
balance, if any, on or before December 2023, as  required by 11
U.S.C. Sec. 1129(a).

  * Unsecured creditors will be paid bi-annually in an amount equal
to 2.5%  of  their claims for a payment of 5% annually.  Over the
term of the 5-year plan, unsecured creditors will be paid a total
of 25% of their claims.  General unsecured claims total $205,048.

The Debtor will continue to rent both the hotel rooms and the RV
spaces.  

A full-text copy of the Second Amended Disclosure Statement dated
Dec. 13, 2019, is available at https://tinyurl.com/rx48gbk from
PacerMonitor.com at no charge.

Counsel for the Debtor:

     Robert J. Maynes
     Mark V. Cornelison
     MAYNES TAGGART PLLC
     P.O. Box 3005
     Idaho Falls, ID 83403
     Telephone: (208) 552-6442
     Facsimile: (208) 524-6095
     E-mail: rmaynes@maynestaggart.com
             mcornelison@maynestaggart.com

                  About Hamlett Enterprises

Hamlett Enterprises, Inc., owns the motel known as the Sacajawea
Inn, which is located at 705 S. Challis St., Salmon, Idaho 83467
the property consists of 21 rooms totaling 7,171 square feet and 8
RV spaces, as well as a 1769 square-foot office/apartment building,
a 551 square-foot storage area and a restaurant.  The land area is
approximately 2 acres.

Hamlett Enterprises filed a petition under Chapter 11 of the
Bankruptcy Code (Bankr. D. Idaho Case No. 18-41169) on Dec. 14,
2018.  In the petition signed by Barbara Hamlett-Soper, president,
the Debtor was estimated to have under $1 million in both assets
and liabilities.  Maynes Taggart PLLC, led by Robert J. Maynes, is
the Debtor's counsel.


HELMET CENTER: Allowed to Use Cash Collateral on Interim Basis
--------------------------------------------------------------
Judge Brenda K. Martin of the U.S. Bankruptcy Court for the
District of Arizona authorized The Helmet Center, LLC's immediate
use of certain cash and other proceeds to maintain its operations
on an interim basis.

The Debtor may use the cash to pay the ordinary and necessary
post-petition expenses contained in the Budget for a period of 30
days. The approved 30-day budget provides total expenses of
approximately $97,449.

Arizona Bank & Trust asserts a lien over all of Debtor's inventory,
equipment, accounts, chattel paper, instruments, letter-of-credit
rights, letters of credit, documents, deposit accounts, investment
property, money, other rights to payment and performance, and
general intangibles securing a debt of approximately $298,462.

Arizona Bank is granted valid and perfected security interests and
replacement liens in all of Debtor's now owned or after acquired
personal property of the validity, priority, extent, and nature
provided for by the Loan Documents (whether owned or existing as of
the Petition Date or thereafter acquired). The Replacement Lien is
limited in amount to the total amount of cash collateral used or
consumed by Debtor. In addition, the Bank will retain all of its
respective prepetition liens and security interests in all other
collateral to the extent provided by the Loan Documents.

The Helmet Center LLC filed a Chapter 11 petition (Bankr. D. Ariz.
Case No. 19-15367), on Dec. 5, 2019.  The petition was signed by
David Steele, member/manager.  At the time of filing, the Debtor
had  $50,001 to $100,000 in estimated assets and $100,001 to
$500,000 in estimated liabilities.  The case is assigned to Judge
Brenda K. Martin.  The Debtor is represented by Thomas H. Allen,
Esq. at Allen Barnes & Jones, PLC.


HIGHLAND CAPITAL: Hires Foley & Lardner as Special Texas Counsel
----------------------------------------------------------------
Highland Capital Management, L.P., and its debtor-affiliates seek
authority from the U.S. Bankruptcy Court for the District of
Delaware to employ Foley & Lardner LLP, as special Texas counsel to
the Debtor.

Highland Capital requires Foley & Lardner to represent and provide
legal services in relation to the case captioned as Acis Capital
Management, L.P., and Acis Capital Management GP, LLC, Case No.
18-30264-SGJ-11, in the U.S. Bankruptcy Court for the Northern
District of Texas, Dallas Division, and various appeals related
thereto.

Foley & Lardner will be paid at these hourly rates:

     Attorneys                 $290 to $1,750
     Paraprofessionals         $120 to $475

During the one-year period preceding the Petition Date, Foley &
Lardner received payments from the Debtor totaling $750,000. As of
September 30, 2019, Foley & Lardner submits that it has earned fees
and incurred reimbursable expenses on account of its services to
the Debtor in the amount of $2,148,432. As of September 30, 2019,
$1,398,432.44 of the Aggregate Amounts was outstanding and unpaid.

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

Holland N. O'Neil, partner of Foley & Lardner 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/its
estates.

Foley & Lardner can be reached at:

     Holland N. O'Neil, Esq.
     FOLEY & LARDNER LLP
     2021 McKinney Avenue, Suite 1600
     Dallas, TX 75201
     Tel: (214) 999-3000
     Fax: (214) 999-4667

              About Highland Capital Management

Highland Capital Management LP was founded by James Dondero and
Mark Okada in Dallas in 1993. Highland Capital is the world's
largest non-bank buyer of leveraged loans in 2007. It also manages
collateralized loan obligations. In March 2007, it raised $1
billion to buy distressed loans.  Collateralized loan obligations
are created by bundling together loans and repackaging them into
new securities.

Highland Capital Management, L.P., sought Chapter 11 protection
(Bank. D. Del. Case No. 19-12239) on Oct. 16, 2019.  Highland was
estimated to have $100 million to $500 million in assets and
liabilities as of the bankruptcy filing.

The Hon. Christopher S. Sontchi is the case judge.

The Debtor's counsel is James E, O'Neill, Esq., at Pachulski Stang
Ziehl & Jones LLP. Foley & Lardner LLP, as special Texas counsel.
Kurtzman Carson Consultants LLC is the claims and noticing agent.



HIGHLAND SALON: Unsec. Creditors to Get 100% in Sale Plan
---------------------------------------------------------
Highland Salons, LP, has filed its First Amended Plan of
Reorganization, which proposes to pay creditors of Highland Salons,
LP, from the sale of its primary asset, the office building
locatedat21720 Highland Knoll Drive, Katy, Harris County, Texas
77450.

This Plan provides for one (1) class of secured claims; one (1)
class of unsecured claims; and one (1) class of equity security
holders.  

Unsecured creditors holding allowed claims will receive
distributions under the Plan equal to 100% of their claims.  The
Class will be paid 100% of their claims with interest at the rate
of 5.0% per annum from the Effective date until paid.

Secured creditor Compass Bank's Proof of Claim No. 2is supported by
a U.S. Small Business Administration Note executed by the Debtor.
The balance of the Note shall be $1,104,471.86, plus interest from
Dec. 3, 2019 at the rate of $151.04 per day, plus allowed amounts
under 11 U.S.C. Sec. 506.  Because the Lender is oversecured, the
amount owed to Lender relating to Lender is entitled to bear
interest at the rate of interest provided for under the Note from
and after the Petition Date and to accrue costs, charges and fees
pursuant to Sec. 506(b).  The Lender will receive monthly payments
from the Debtor, with the note maturing on the last day of the 166
months following the Effective Date.

Current limited partners will be unaffected and shall receive net
after all creditors are paid in full pursuant to the terms of the
Plan.

A full-text copy of the First Amended Plan of Reorganization dated
Dec. 13, 2019, is available at https://tinyurl.com/tpv8eoj from
PacerMonitor.com at no charge.

Attorney for the Debtor:

     Peter Johnson
     LAW OFFICES OF PETER JOHNSON
     1738 Sunset Boulevard
     Houston Texas 77005
     Telephone (713) 961-1200
     pjohnson@pjlaw.com

                   About Highland Salons LP

Highland Salons LP was founded in 2003 by its current family
owners, Manuel Guevara and his spouse Manuel Guevara who
incorporated the entity under Texas Law for the purpose of
constructing a retail sundries and fuel facility to be located on
the expanding Katyarea in Northwest Harris County, Texas.

In 2003 the Guevaras acquired a parcel of real property containing
10,440 square feet, located at 21720 Highland Knoll Drive, Katy,
Harris County, Texas 77450.  The Guevaras invested their own funds
and obtained a construction loan.  In 2012, the Debtor obtained a
loan from U.S. Small Business Administration administered by
Compass Bank ("SBA Loan") in the amount of $1,320,000.  Guevara
constructed the building to house independent salon and spa
professionals in Katy, Texas.  Currently 50 available stations
exist, with over 24 rented at an average rate of $250 per week.

Highland Salons sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Tex. Case No. 19-30540) on Feb. 1,
2019. At the time of the filing, the Debtor disclosed $3,553,410 in
assets and $1,019,255 in liabilities.  The case is assigned to
Judge David R. Jones.  The Debtor tapped Law Office of Peter
Johnson as its legal counsel.  

No official committee of unsecured creditors has been appointed in
the Chapter 11 case.


HUNT OIL: Moody's Lowers LongTerm Issuer Rating to B2
-----------------------------------------------------
Moody's Investors Service downgraded Hunt Oil Company's long term
issuer rating to B2 from B1. Moody's also placed the rating under
review for downgrade.

"The downgrade of Hunt's issuer rating to B2 is based on the high
likelihood that the company's unsecured creditors will be
subordinated to secured debt in the capital structure as part of
the company's pending renewal or replacement of its unsecured
revolver," said Pete Speer, Moody's Senior Vice President. "The
review of the rating for potential further downgrade reflects the
uncertainty regarding the timing for concluding the refinancing
process and the final form it will take."

Downgrades:

Issuer: Hunt Oil Company

  Issuer Rating, Downgraded to B2 from B1; Placed Under Review
  for further Downgrade

Outlook Actions:

Issuer: Hunt Oil Company

  Outlook, Changed To Rating Under Review From Stable

RATINGS RATIONALE

Hunt is in the midst of a refinancing process to replace its senior
unsecured revolving credit facility that matures in July 2020. As
part of this effort, Hunt has been engaged in discussions with its
noteholders to obtain necessary amendments to allow for a senior
secured borrowing base revolving credit facility, with the
necessary pledging of US proved reserves to back the facility. The
negotiations have been prolonged and the company has identified
alternative approaches to secure the necessary financing.

The company also contends with relatively weak natural gas liquids
and natural gas prices and much weaker than expected earnings from
its investment in PERU LNG S.R.L. (Ba3 stable). Given these
fundamental challenges and the likely outcome that Hunt's unsecured
creditors will be subject to additional subordination in the
refinancing, the issuer rating has been downgraded to B2.

In the ratings review, Moody's will focus on the final form and
terms of the new financing structure put in place, the company's
liquidity position and forecasted financial performance. Moody's
will also evaluate the extent of additional structural
subordination of unsecured creditors, either structurally or to
secured debt, and the amount of company assets that remain
unencumbered to determine if a further downgrade of the issuer
rating is warranted. Failure to conclude the refinancing process in
the next few months could also result in a rating downgrade.

The principal methodology used in this rating was Independent
Exploration and Production Industry published in May 2017.

Hunt Oil Company is a privately owned independent exploration and
production company headquartered in Dallas, Texas. It is a wholly
owned subsidiary of Hunt Consolidated, Inc.


HVI CAT CANYON: Committee Hires Dore Rothberg as Counsel
--------------------------------------------------------
The Official Committee of Unsecured Creditors of HVI Cat Canyon,
Inc., seeks authority from the U.S. Bankruptcy Court for the
Central District of California to retain Dore Rothberg McKay, as
special oil and gas counsel to the Committee.

The Committee requires Dore Rothberg to:

   a) assist the Committee in its investigation of the liens
      asserted by UBS AG against the Debtor's oil and gas
      interests;

   b) prepare, on behalf of the Committee, any pleadings,
      including without limitation, motions, memoranda,
      complaints, adversary complaints, objections or comments in
      connection with the foregoing; and

   c) perform such other legal services as may be required or
      requested or as may otherwise be deemed 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.

Dore Rothberg 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.

Carl Dore, Jr., partner of Dore Rothberg McKay, 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.

Dore Rothberg can be reached at:

     Carl Dore, Jr., Esq.
     Dore Rothberg McKay
     17171 Park Row, Suite 160
     Houston, TX 77084
     Tel: (281) 829-1555
     Fax: (281) 200-0751

                  About HVI Cat Canyon, Inc.

HVI Cat Canyon, Inc., is a privately held oil and gas extraction
company based in New York.

HVI Cat Canyon sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. S.D.N.Y. Case No. 19-12417) on July 25, 2019. In the
petition signed by Alex G. Dimitrijevic, president and COO, the
Debtor was estimated to have assets of between $100 million and
$500 million and liabilities of the same range.  Weltman &
Moskowitz, LLP, serves as bankruptcy attorneys to the Debtor.  Cole
Schotz P.C., is local and conflicts co-counsel.



INSPIREMD INC: Expects Fourth Quarter Revenue of $1 Million
-----------------------------------------------------------
InspireMD, Inc. reported preliminary unaudited revenue for the
fourth quarter and reported an inducement grant to the Company's
new Chief Executive Officer, Marvin Slosman, who assumed the role
effective Jan. 1, 2020.

InspireMD anticipates that preliminary unaudited revenue for the
fourth quarter ended Dec. 31, 2019, will be within a range of
$1,000,000 to $1,025,000, representing estimated growth of 22%-25%
over the comparable period in 2018.  The Company's revenue growth
during the quarter was driven largely by growing demand for CGuard
EPS, which increased sales more than 30% over the comparable period
in 2018.  Actual results may differ materially from the foregoing
estimates due to developments or other information that may arise
between now and the time the financial results for the fourth
quarter of 2019 are finalized.  These preliminary results should
not be viewed as a substitute for the Company's fourth quarter
reviewed consolidated financial statements prepared in accordance
with GAAP.

"I assumed the role of Chief Executive Officer because, upon
reviewing the significant body of evidence demonstrating the
superiority of CGuard as compared to other interventional and
surgical CAD treatment options, I believe we have a significant
opportunity to transform patient care while creating long-term
value for our shareholders," said Marvin Slosman, chief executive
officer.  "We believe our continued strong revenue growth reflects
the increasing awareness of CGuard by treating physicians,
including vascular surgeons, in our key territories. At the same
time, we continue to work to introduce CGuard into new markets and
anticipate that we will be able to sustain this momentum through
2020."

InspireMD also announced that the Company has granted Marvin
Slosman, the new chief executive officer of the company, stock
options to purchase up to an aggregate of 60,794 shares of common
stock of the company and 182,381 restricted stock units as
inducement awards outside the Company's 2013 Long-Term Incentive
Plan.  The grant was approved by the Compensation Committee and was
made as an inducement material to the employee entering into
employment.  The grant was made in reliance on the employment
inducement exception to shareholder approval provided under the
NYSE American Company Guide, Section 711(a), which requires public
announcement of inducement awards.

The option award has an exercise price of $1.10 per share, the
closing price of the company's common stock on Jan. 2, 2020 and has
a ten-year term.  Both the option and restricted stock unit awards
will vest in three equal installments on the first, second, and
third anniversaries of the date of grant, provided Mr. Slosman
remains employed by the company through the applicable vesting
dates.  These inducement awards also provide for accelerated
vesting in connection with a change in control of the company or
certain involuntary terminations of Mr. Slosman's employment.  The
restricted stock units that vest will be converted into whole
shares of the Company's common stock on the first to occur: 1) a
change in control of the company, or 2) the date of Mr. Slosman's
termination of employment for any reason other than by the company
for cause.

                      About InspireMD Inc.

Headquartered in Tel Aviv, Israel, InspireMD  --
http://www.inspiremd.com/-- is a medical device company focusing
on the development and commercialization of its proprietary
MicroNet stent platform technology for the treatment of complex
vascular and coronary disease.  A stent is an expandable
"scaffold-like" device, usually constructed of a metallic material,
that is inserted into an artery to expand the inside passage and
improve blood flow.  Its MicroNet, a micron mesh sleeve, is wrapped
over a stent to provide embolic protection in stenting procedures.

InspireMD reported a net loss of $7.24 million for the year ended
Dec. 31, 2018, following a net loss of $8.44 million for the year
ended Dec. 31, 2017.  As of Sept. 30, 2019, the Company had $11.62
million in total assets, $3.72 million in total liabilities, and
$7.89 million in total equity.

Kesselman & Kesselman, in Tel-Aviv, Israel, the Company's auditor
since 2010, issued a "going concern" qualification in its report
dated Feb. 19, 2019, citing that the Company has suffered recurring
losses from operations and cash outflows from operating activities
that raise substantial doubt about its ability to continue as a
going concern.


INSPIREMD INC: Sabby Volatility Has 9.9% Stake as of Dec. 31
------------------------------------------------------------
Sabby Volatility Warrant Master Fund, Ltd., Sabby Management, LLC,
and Hal Mintz disclosed in a Schedule 13G/A filed with the
Securities and Exchange Commission that as of Dec. 31, 2019, they
beneficially own 362,922 shares of common stock of InspireMD, Inc.,
which represents 9.99 percent of the shares outstanding.

Sabby Management, LLC and Hal Mintz do not directly own any shares
of Common Stock, but each indirectly owns 362,922 shares of Common
Stock.  Sabby Management, LLC, a Delaware limited liability
company, indirectly owns 362,922 shares of Common Stock because it
serves as the investment manager of Sabby Volatility Warrant Master
Fund, Ltd.  Mr. Mintz indirectly owns 362,922 shares of Common
Stock in his capacity as manager of Sabby Management, LLC.

A full-text copy of the regulatory filing is available for free at
the SEC's website at:

                      https://is.gd/omiqdG

                     About InspireMD Inc.

Headquartered in Tel Aviv, Israel, InspireMD --
http://www.inspiremd.com/-- is a medical device company focusing
on the development and commercialization of its proprietary
MicroNet stent platform technology for the treatment of complex
vascular and coronary disease.  A stent is an expandable
"scaffold-like" device, usually constructed of a metallic material,
that is inserted into an artery to expand the inside passage and
improve blood flow.  Its MicroNet, a micron mesh sleeve, is wrapped
over a stent to provide embolic protection in stenting procedures.

InspireMD reported a net loss of $7.24 million for the year ended
Dec. 31, 2018, following a net loss of $8.44 million for the year
ended Dec. 31, 2017.  As of Sept. 30, 2019, the Company had $11.62
million in total assets, $3.72 million in total liabilities, and
$7.89 million in total equity.

Kesselman & Kesselman, in Tel-Aviv, Israel, the Company's auditor
since 2010, issued a "going concern" qualification in its report
dated Feb. 19, 2019, citing that the Company has suffered recurring
losses from operations and cash outflows from operating activities
that raise substantial doubt about its ability to continue as a
going concern.


JM GRAIN: Exclusivity Period Extended to Jan. 21
------------------------------------------------
Judge Shon Hastings of the U.S. Bankruptcy Court for the District
of North Dakota extended to Jan. 21 the period during which only JM
Grain, Inc. can file a Chapter 11 plan.

The company can solicit acceptances for the plan until March 20.  

           About JM Grain

JM Grain Inc. buys and sells pulse crops. JM Grain sources its
pulses from over 700 independent farmer-producers growing crops in
the fertile fields of Montana and North Dakota. On the
web:https://www.jmgrain.com/

JM Grain, Inc., based in Garrison, ND, filed a Chapter 11 petition
(Bankr. D.N.D. Case No. 19-30359) on June 25, 2019.  In the
petition signed by Justin E. Flaten, president, the Debtor
estimated up to $50,000 to $100,000 in assets and $1 million to $10
million in liabilities. The Hon. Shon Hastings oversees the case.
Caren Stanley, partner of Vogel Law Firm, serves as bankruptcy
counsel to the Debtor.



JOSEPH'S TRANSPORTATION: Unsecureds Get One-Time Payout of 5%
-------------------------------------------------------------
According to its First Amended Disclosure Statement, Joseph's
Transportation, Inc., has a Chapter 11 plan that provides a
recovery of 5 cents on the dollar for unsecured creditors.

The Plan treats claims and interests in this manner:

  * CLASS I: Secured claim asserted by Advantage Funding, which
creditor holds a security interest in a 2014 Temsa Bus.  IMPAIRED.
The prepetition arrears due to Advantage Funding, which total
$21,396 will be repaid in 6 equal monthly installments of
$3,566.00. The payments will begin on April 15, 2020 for the
prepetition arrears. The amount due to Advantage Funding as of the
Filing Date was $161,687.08.

  * CLASS II: Secured claim asserted by Brookline.  IMPAIRED.
Total claim of $1,257,113.  Postpetition and post-confirmation
payments will continue to be paid to Brookline until the loan to
Brookline is paid in full.

  * CLASS III: Secured claim asserted by customers.  IMPAIRED.
Total claim of $465,355.34.  The prepetition arrears due to
Customers, which total $13,053.17 will be repaid in 6 equal monthly
installments of $2,175.52.

  * CLASS IV: Secured claim asserted by Ford.  IMPAIRED.  Total
claim of $50,298.35.  The prepetition arrears due to Ford, which
total $3,436.90 will be repaid in 6 equal monthly installments of
$572.81.

  * CLASS V: Secured claim asserted by Komatsu.  IMPAIRED.  Total
claim of $90,000. There are no prepetition arrears due to Komatsu.
Postpetition and post-confirmation payments will continue to be
paid to Komatsu until the loan to Komatsu is paid in full.

  * CLASS VI: Secured claim asserted by Signature.  IMPAIRED.
Total claim of $1,391,022.  Contractual monthly payments due and
owing under the Signature Loan Agreements are $24,323.96 per month.


  * CLASS VII: Secured claim asserted by Sun Trust.IMPAIRED. Total
claim $340,813. The prepetition arrears due to Sun Trust, which
total $6,175.84 will be repaid in 6 equal monthly installments of
$1,029.30. The payments will begin on April 15, 2020 for the
prepetition arrears.

  * CLASS VIII: Secured claim asserted by TIAA.  IMPAIRED.  Total
claim $354,005.  The prepetition arrears due to TIAA, which total
$19,604 will be repaid in 6 equal monthly installments of $3,268.
The payments will begin on April 15, 2020 for the prepetition
arrears.

  * CLASS IX: Secured claim asserted by TIAA.  IMPAIRED.  Total
claim $273,985.  The prepetition arrears due to TIAA, which total
$9,145 will be repaid in 6 equal monthly installments of $1,524.
The payments will begin on April 15, 2020 for the prepetition
arrears.

  * CLASS XI: General unsecured claims.  IMPAIRED.  The general
unsecured creditors in Class XII, whose claims total $243,218, will
be paid a one-time dividend of 5% on the Effective Date which is
estimated to be February or March of 2020.

  * CLASS XII: Holder of the equity security interests in the
Debtor.  The holder of the equity security interest in the Debtor
will continue to hold his equity security interest in the Debtor,
post-confirmation.

The Debtor will continue to operate its business from the present
location of 44 James Street, Medford, Massachusetts.

A full-text copy of the First Amended Disclosure Statement dated
Dec. 13, 2019, is available at https://tinyurl.com/v7wzwvv from
PacerMonitor.com at no charge.

Attorney for the Debtor:

     Gary W. Cruickshank
     21 Custom House Street
     Suite 920
     Boston, MA 02110
     Tel: (617) 330-1960
     E-mail: gwc@cruickshank-law.com

                  About Joseph's Transportation

Joseph's Transportation is a family-owned and operated full
transportation company that has been serving the New England area
for more than 40 years.  Joseph's Transportation filed a voluntary
petition for relief under Chapter 11 of the Bankruptcy Code (Bankr.
D. Mass. Case No. 18-14282) on Nov. 11, 2018.  In the petition
signed by Joseph Albano III, president, the Debtor was estimated
to
have assets of $500,001 to $1 million and liabilities of the same
range.  The Law Office of Gary W. Cruickshank serves as counsel to
the Debtor.


KEY ENERGY: Egan-Jones Lowers Senior Unsecured Ratings to C
-----------------------------------------------------------
Egan-Jones Ratings Company, on January 2, 2020, downgraded the
foreign currency and local currency senior unsecured ratings on
debt issued by Key Energy Services Incorporated to C from CC. EJR
also downgraded the rating on commercial paper issued by the
Company to D from C.

Headquartered in Houston, Texas, Key Energy Services is an American
oilfield services company.



KIMBLE DEVELOPMENT: Voluntary Chapter 11 Case Summary
-----------------------------------------------------
Debtor: Kimble Development of Jackson, L.L.C.
        10606 Coursey Boulevard, Suite B
        Baton Rouge, LA 70816

Business Description: Kimble Development of Jackson, L.L.C.
                      is primarily engaged in renting and leasing
                      real estate properties.

Chapter 11 Petition Date: January 8, 2020

Court: United States Bankruptcy Court
       Middle District of Louisiana

Case No.: 20-10008

Debtor's Counsel: Ryan J. Richmond, Esq.
                  RICHMOND LAW FIRM, LLC
                  17732 Highland Road
                  Suite G-228
                  Baton Rouge, LA 70810
                  Tel: (225) 572-2819
                  E-mail: ryan@rjrichmondlaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Michael D. Kimble, manager.

A copy of the petition is available for free at PacerMonitor.com
at:

                  https://is.gd/0IhGKp


LASALLE GROUP: Auction of Facilities to Fund Plan Payments
----------------------------------------------------------
The Lasalle Group, Inc., et al., have filed with the United States
Bankruptcy Court for the Western District of Texas, Austin Division
their Joint Plan of Liquidation.

The purpose of the Debtors' Plan is to provide a mechanism for the
liquidation of the Debtors' assets and for the payment of the
Debtors' Creditors.

The Plan contemplates the sale of substantially all of the Debtors'
assets to a third party.  The Debtors will offer for sale the
facilities and operations located  at 24024 Westheimer Parkway,
Katy, TX 77494 (the "Cinco Ranch Facility") and 11200  Discovery
Bay Drive, Pearland, TX 77584 (the "Pearland Facility").

The Plan treats claims as follows:

  * (Class 1.1.A). IMPAIRED. The Class 1.1.A of SH1 shall be
treated as a fully Secured Claim against Cinco Ranch in the amount
of $8,310,598.33. On the Effective Date and as part of the Closing,
SH1 shall receive from the Purchaser the proceeds of the Sale of
the Cinco Ranch Facility. To the extent that the amounts received
as provided herein are less than the amount of the Class 1.1.A
Claim, SH1 shall be a holder of a Class 2.2.A Unsecured Deficiency
Claim with respect to such deficiency.

  * Class 1.1.B). IMPAIRED. The Class 1.1.B of SH1 shall be treated
as a fully Secured Claim against Pearland in the amount of
$6,354,320.43. on the Effective Date and as part of the Closing,
SH1 shall receive from the Purchaser the proceeds of the Sale of
the Pearland Facility. To the extent that the amounts received as
provided herein are less than the amount of the Class 1.1.B Claim,
SH1 shall be a holder of a Class 2.2.B Unsecured Deficiency Claim
with respect to such deficiency.

  * Secured Claims of Taxing Authorities: (Class 1.2.A and 1.2.B).
IMPAIRED. The Class 1.2.A and 1.2.B Claims shall be treated as
fully secured. The Class 1.2.A and 1.2.B Claims shall be paid in
fifteen (15) quarterly payments (the “Tax Payments”) commencing
no later than the first day of the first month which is thirty (30)
days after entry of the Confirmation Order.

  * Administrative Convenience Claims: (Class 2.1.A and Class
2.1.B). IMPAIRED. Class 2.1.A and 2.1.B Administrative Convenience
Claims each consist of Allowed Unsecured Claims against the
respective Debtor, each under the amount of $1500, held by
creditors. Creditors holding Allowed Class 2.1 Claims will be paid
50% of their Allowed Claims on the Effective Date.

  * General Unsecured Claims: (Class 2.2.A and Class 2.2.B).
IMPAIRED. Creditors holding Allowed Class 2.2 Claims, along with
Holders of Allowed Class 2.3 Claims, will share pro rata in any
assets remaining after payment of Claims in Classes 1.1, 1.2, and
2.1. Such payments will be made as soon as reasonably practicable
after all the Claims in the foregoing Classes are paid in full.

  * Unsecured Intercompany Claims: (Class 2.4.A and 2.4.B).
IMPAIRED. Creditors holding Allowed Class 2.4 Claims will receive
no distributions under this Plan.

  * Equity Interest Holders: (Class 3.A and 3.B) . IMPAIRED. Class
3 Equity Interest Holders will not receive any distributions under
the Plan.

A full-text copy of the Disclosure Statement dated December 13,
2019, is available at https://tinyurl.com/rywh4ar from
PacerMonitor.com at no charge.

Counsel for the Debtors:

     Vickie L. Driver  
     Christina W. Stephenson
     Christopher M. Staine
     CROWE & DUNLEVY, P.C.
     2525 McKinnon St., Suite 425
     Dallas, TX 75201
     Telephone: 214.420.2163
     Facsimile: 214.736.1762
     E-mail: vickie.driver@crowedunlevy.com
     E-mail: christina.stephenson@crowedunlevy.com
     E-mail: christopher.staine@crowedunlevy.com

                     About The LaSalle Group

The LaSalle Group, Inc., along with certain of its subsidiaries,
designs, develops, builds, and owns interests in memory care
assisted living communities designed specifically for people with
Alzheimer's and other forms of dementia.  The communities operate
under the name Autumn Leaves.

LaSalle is a holding company for numerous wholly owned, non-debtor
subsidiaries and affiliates.  It directly and indirectly owns
interests in 40 memory care assisted living communities located in
Texas, Illinois, Georgia, Florida, Kansas, Missouri, Oklahoma,
South Carolina, and Wisconsin.

LaSalle and its subsidiaries sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. N.D. Tex. Lead Case No. 19-31484) on
May 2, 2019.  At the time of the filing, the Debtors estimated
assets of between $10 million and $50 million and liabilities of
the same range.

The cases are assigned to Judge Stacey G. Jernigan.

The Debtors tapped Crowe & Dunlevy, P.C. as their legal counsel;
Haynes and Boone, LLP as special counsel; Karen Nicolaou of Harney
Partners Management, LLC as chief restructuring officer; and
Donlin, Recano & Company, Inc. as claims and noticing agent.

The Office of the U.S. Trustee appointed a committee of unsecured
creditors on July 3, 2019.  The committee is represented by Drinker
Biddle & Reath LLP.


LEMKCO FLORIDA: Competing Plans Set for Feb. 10 Hearing
-------------------------------------------------------
Judge Caryl E. Delano on Nov. 25, 2019, convened a hearing on
conditional approval of (i) the Second Disclosure Statement for the
Second Plan of Reorganization filed by debtor Lemkco Florida, Inc.,
and (ii) the Disclosure Statement for the competing Plan of
Liquidation filed by Golf Properties of Florida, LLC.

Judge Caryl E. Delano has ordered that the Disclosure Statements
are conditionally approved.

The Court will conduct a hearing on confirmation of the Second Plan
of Reorganization filed by the Debtor and the Plan of Liquidation
filed by Golf Properties (collectively, the "Plans"), including
timely filed objections to  confirmation, objections to the
Disclosure Statements, motions for cramdown, applications for
compensation, and motions for allowance of administrative claims on
Feb. 10, 2020 at 9:30 a.m. in Tampa, FL − Courtroom 9A, Sam M.
Gibbons United States Courthouse, 801 N. Florida Avenue. The
Confirmation Hearing may be adjourned from time to time by
announcement made in open court without further notice.  If a plan
is not confirmed, the Court will also consider dismissal or
conversion of the case.

Objections to confirmation must be filed and served no later than
seven days before the date of the Confirmation Hearing.

                        Competing Plans

As reported in the Troubled Company Reporter, LEMKCO FLORIDA, INC.,
has a Chapter 11 Plan that contemplates the redevelopment of the
Spring Hill Golf and Country Club.  The Debtor's Plan will
initially be funded by capital contributions from the Debtor's
principal, financing, joint ventures, and third-party investors.
Once the Debtor the redevelopment of the Spring Hill Golf and
Country Club has sufficiently progressed, the Debtor anticipates
generating income from the sale of residential lots.

Golf Properties of Florida, a secured creditor of the Debtor, filed
a proposed plan of liquidation and disclosure statement for the
Debtor.  Golf Properties' Plan will be funded by the net proceeds
from the sale and liquidation of the Debtor's assets.  The Plan is
based upon Golf Properties' belief that a liquidation of the
Debtor's property will result in a substantially higher and faster
recovery to all creditors.  

A full-text copy of the Debtor's Second Disclosure Statement dated
Nov. 1, 2019, is available at https://tinyurl.com/yyzua6h3 from
PacerMonitor.com at no charge.

A full-text copy of Golf Properties' Disclosure Statement dated
Nov. 5, 2019, is
available at https://tinyurl.com/yypcbf7e from PacerMonitor.com at
no charge.


                     About Lemkco Florida

Lemkco Florida, Inc., a single asset real estate as defined in 11
U.S.C. Section 101(51B), is the fee simple owner of Spring Hill
Golf & Country Club located at 12079 Coronado Drive Spring Hill,
Florida.

Lemkco Florida filed its voluntary petition under Chapter 11 of the
Bankruptcy Code (Bankr. M.D. Fla. Case No. 18-10971) on Dec. 21,
2018.  In the petition signed by Darren Kahanyshyn, chief
restructuring officer, the Debtor disclosed $591,080 in total
assets and $5,456,546 in liabilities.

The Debtor tapped Buddy D. Ford, P.A. as its bankruptcy counsel,
and DHW Law, P.A. as its special counsel.

Gyden Law Group will represent the Debtor in the state appellate
court actions styled, Lemkco Florida, Inc. v. Golf Properties of
Florida, LLC (Case No. 5D18-3928) and Lemkco Florida, Inc. v. Golf
Properties of Florida, LLC (Case No. 5D18-3306), both of which are
presently pending in the Fifth District Court of Appeal, Florida.


LEVEL HOME: Unsec. Creditors to Get 100% in 120 Months
------------------------------------------------------
Level Home Foundation Repair, LLC, filed a reorganization plan that
proposes to pay creditors from cash flow from operations, and, if
necessary, an infusion of capital from equity.

The Plan treats claims in this manner:

   * Class 1 - The secured claim of Santander Consumer USA Inc.,
d/b/a Chrysler Capital.  IMPAIRED.  Estimated Payout $26,426.28.
The creditor is the holder of a secured claim in the allowed amount
of $22,243, to be paid with interest on the claim's unpaid
principal balance at the rate of 7% per annum from and after the
Plan's Effective Date, until paid; payable in 60 consecutive
monthly installments of $440.44 each.

   * Class 2 - The secured claim of Ally Financial.  IMPAIRED.
Estimated Payout $47,641.80. Creditor is the holder of a secured
claim in the allowed amount of $40,100.00, to be paid with interest
on the claim's unpaid principal balance at the rate of 7% per annum
from and after the Plan's Effective Date, until paid; payable in 60
consecutive monthly installments of $794.03 each.

   * Class 3 - The secured claim of TD Auto Finance LLC.  IMPAIRED.
Estimated Payout $27,474.16.  Creditor is the holder of a secured
claim in the allowed amount of $23,125, to be paid with interest on
the claim's unpaid principal balance at the rate of 7% per annum
from and after the Plan's Effective Date, until paid; payable in 60
consecutive monthly installments of $457.90 each.

   * Class 4 - The secured claim of Americredit Financial Services,
Inc., d/b/a GM Financial.  IMPAIRED.  Estimated Payout $37,273.97.
Creditor is the holder of a secured claim in the allowed amount of
$31,373.50, to be paid with interest on the claim's unpaid
principal balance at the rate of 7% per annum from and after the
Plan's Effective Date, until paid; payable in 60 consecutive
monthly installments of $621.23 each.

   * Class 5 - The secured claim of Americredit Financial Services,
Inc., d/b/a GM Financial.  IMPAIRED.  Estimated Payout $53,819.66.
Creditor is the holder of a secured claim in the allowed amount of
$45,300, to be paid with interest on the claim's unpaid principal
balance at the rate of 7% per annum from and after the Plan's
Effective Date, until paid; payable in 60 consecutive monthly
installments of $896.99 each.

   * Class 6 - The secured claim of Caterpillar Financial Services
Corporation related to Contract No. Contract No. 901568.  IMPAIRED.
Estimated Payout $31,296.60. CFSC is the holder of a secured claim
in the allowed amount of $26,500, to be paid with interest on the
claim's unpaid principal balance at the rate of 6.75% per annum
from and after the Plan's Effective Date, until paid; payable in 60
consecutive monthly installments of $521.61 each.

   * Class 7 - The secured claim of Caterpillar Financial Services
Corporation related to Contract No. 901111.  IMPAIRED.  Estimated
Payout $36,611.40.  CFSC is the holder of a secured claim in the
allowed amount of $31,000, to be paid with interest on the claim's
unpaid principal balance at the rate of 6.75% per annum from and
after the Plan's Effective Date, until paid; payable in 60
consecutive monthly installments of $610.19 each.

   * Class 8 - The secured claim of Citizens National Bank.
IMPAIRED.  Estimated Payout $41,983.53.  Creditor is the holder of
a secured claim in the allowed amount of $35,127.91, to be paid
with interest on the claim's unpaid principal balance at the rate
of 7.25% per annum from and after the Plan's Effective Date, until
paid; payable in 60 consecutive monthly installments of $699.73
each.

   * Class 9 - The secured claim of Pirs Capital, LLC. IMPAIRED.
Estimated Payout $56,673.91.  Creditor is the holder of a secured
claim in the amount of $47,702.42; to be paid with interest on the
claim's unpaid principal balance at the rate of 7% per annum from
and after the Plan's Effective Date, until paid; payable in 60
consecutive monthly installments of $944.57 each.

   * Class 10 - Unsecured Claims. IMPAIRED. Estimated Payout
$191,214.28. The dollar amount of the claims in this class is
$191,214.28. Commencing on the 5th Day of the first month following
the Plan's Effective Date, the Debtor shall pay and distribute the
Debtor's pro rata Class 10 Plan Payments in the monthly amount of
$1,593.46.  The holders of allowed Class 5 claims will receive
their monthly distributions over a projected 120 month term, until
allowed Class 5 unsecured claims are paid in full.

Payments and distributions under the Plan will be funded by the
following: the operations of the Debtor and any necessary cash
infusion that would be made by Charles Sidney Eason; projected
reasonable annual growth in revenue; and debt re-structuring of all
classes of creditors which will in sufficient monthly cash flow to
fund operations, service debt and to implement growth strategies.

A full-text copy of the Amended Plan of Reorganization dated Dec.
13, 2019, is available at https://tinyurl.com/t3yhmhl from
PacerMonitor.com at no charge.

Attorney for the Debtor:

     Robert W. Raley, Bar No. 11082
     290 Benton Spur Road
     Bossier City, Louisiana 71111
     Telephone: (318) 747-2230
     E-mail: bankruptcy@robertraleylaw.com

                 About Level Home Foundation

Level Home Foundation Repair, LLC, is a Louisiana Limited Liability
Company (LLC).  Since June 10, 2016, it has been in the business of
providing foundation repair services.  It specializes in providing
those services to residential customers; however, occasionally
Debtor provides foundation repair services to commercial
customers.

The managers of the Debtor during the Debtor's chapter 11 case have
been Charles Sidney Eason, Construction Supervisor, and Maria
Eason, Office & Financial Manager.

Level Home Foundation Repair sought Chapter 11 protection (Bankr.
W.D. La. Case No. 19-10589) on April 19, 2019.  The Debtor was
estimated to have less than $500,000 in assets and less than $1
million in liabilities.  Robert W. Raley is the Debtor's counsel.


LITESTREAM HOLDINGS: Hires Furr & Cohen as Attorney
---------------------------------------------------
Litestream Holdings, LLC, seeks authority from the U.S. Bankruptcy
Court for the Southern District of Florida to employ Furr & Cohen,
P.A., as attorney to the Debtor.

Litestream Holdings requires Furr & Cohen to:

   (a) give advice to the Debtor with respect to the Debtor's
       powers and duties as Debtor-in-Possession and the
       continued management of its business operations;

   (b) advise the Debtor with respect to its responsibilities in
       complying with the U.S. Trustee's Operating Guidelines and
       Reporting Requirements and with the rules of the court;

   (c) prepare motions, pleadings, orders, applications,
       adversary proceedings, and other legal documents necessary
       in the administration of the case;

   (d) protect the interest of the Debtor in all matters pending
       before the court; and

   (e) represent the Debtor in negotiation with its creditors in
       the preparation of a plan.

Furr & Cohen will be paid at these hourly rates:

     Robert C. Furr            $650
     Charles I. Cohen          $550
     Alvin S. Goldstein        $550
     Alan R. Crane             $500
     Marc P. Barmat            $500
     Aaron R. Wernick          $500
     Jason S. Rigoli           $350
     Paralegals                $150

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

Robert C. Furr, a partner at Furr & Cohen, 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.

Furr & Cohen can be reached at:

         Robert C. Furr, Esq.
         FURR & COHEN, P.A.
         2255 Glades Road, Suite 301E
         Boca Raton, FL 33431
         Tel: (561) 395-0500
         Fax: (561) 338-7532
         E-mail: rfurr@furrcohen.com

                   About Litestream Holdings

Litestream Holdings, LLC, is a Florida-based provider of video,
broadband, and phone services.  The Company filed a Chapter 11
petition (Bankr. S.D. Fla. Case No. 19-26043) on Nov. 27, 2019 in
West Palm Beach, Florida, listing between $1 million and $10
million in both assets and liabilities.  The petition was signed by
Paul Rhodes, managing member.  The Hon. Mindy A. Mora is the case
judge.  FurrCohen P.A., is the Debtor's counsel.


LITTLE YORK: Seeks to Hire Strong Law as Special Counsel
--------------------------------------------------------
Little York Beltline GP, LLC, seeks authority from the U.S.
Bankruptcy Court for the Northern District of Texas to employ
Strong Law, PLLC, as special counsel to the Debtor.

Little York requires Strong Law to provide legal advice and
represent the Debtor with respect to  the claims of Shao Ouyang,
including those made in Adversary No. 19-03678 currently pending in
the U.S. Bankruptcy Court for the Southern District of Texas,
Houston Division.

Strong Law will be paid based upon its normal and usual hourly
billing rates.

As of the petition date, the Debtor owed Strong Law the amount of
$1,641.50.

Strong Law will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Steven Strong, partner of Strong Law, 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.

Strong Law can be reached at:

     Steven Strong, Esq.
     STRONG LAW, PLLC
     4713 W Lovers Ln, Suite 204
     Dallas, TX 75209
     Tel: (214) 890-1100

                  About Little York Beltline

Little York Beltline GP, LLC, based in Dallas, TX, filed a Chapter
11 petition (Bankr. N.D. Tex. Case No. 19-33727) on Nov. 4, 2019.
In its petition, the Debtor was estimated to have $0 to $50,000 in
assets and $1 million to $10 million in liabilities.  The petition
was signed by Reagan K. Vidal, managing member of BVC Advisors,
LLC.  The Hon. Stacey G. Jernigan is the presiding judge.  Howard
Marc Spector, Esq., of Spector & Cox, PLLC, serves as bankruptcy
counsel, and Strong Law, PLLC, is special counsel.




LUNA DEVELOPMENTS: Exclusivity Period Extended to Jan. 24
---------------------------------------------------------
Judge Scott Grossman of the U.S. Bankruptcy Court for the Southern
District of Florida extended Luna Developments Group LLC's
exclusive period to file a Chapter 11 plan and disclosure statement
to Jan. 24 and the exclusive period to solicit acceptances for the
plan to April 24.

The extension will allow Alan Barbee, the court-appointed receiver
for Luna Developments, to continue to review the company's books
and records and address other issues that should be resolved prior
to the filing of the plan and disclosure statement.

                   About Luna Developments Group

The receiver for Luna Developments Group, LLC, a company based in
West Palm Beach, Florida, filed a Chapter 11 petition (Bankr. S.D.
Fla. Case No. 19-11169) for Luna Developments on Jan. 28, 2019.  In
the petition signed by Alan Barbee, the receiver appointed by a
Florida state court, the Debtor disclosed $5,000,000 in assets and
$3,366,816 in liabilities.  The Hon. Erik P. Kimball oversees the
case.  Robert C. Furr, Esq., at Furr Cohen, serves as the Debtor's
bankruptcy counsel.

No official committee of unsecured creditors has been appointed.


M/I HOMES: Fitch Assigns 'BB-' Rating to $350MM Sr. Notes Due 2028
------------------------------------------------------------------
Fitch Ratings assigned a 'BB-'/'RR4' rating to M/I Homes, Inc.'s
offering of $350 million senior notes due 2028. The notes will rank
pari passu with all other senior unsecured debt. The company
intends to use a portion of the net proceeds from the notes
offering to redeem all of its $300 million 6.75% senior notes due
2021 and the balance to repay borrowings under its $500 million
unsecured revolver. The Rating Outlook is Stable.

KEY RATING DRIVERS

Relatively Stable Credit Metrics: MHO's homebuilding
debt/capitalization ratio has fallen to 43.8% as of Sept. 30, 2019,
from 46.4% at year-end 2017 and 44% at year-end 2018. Net
debt/capitalization (excluding $40 million of cash classified by
Fitch as not readily available for working capital) stood at 41.7%
at year-end 2017, 44% at year-end 2018 and 43.8% at Sept. 30, 2019.
Debt/EBITDA has consistently been at or below 4.0x since 2016,
while interest coverage was 4.0x for the LTM ending Sept. 30,
2019.

Fitch expects net debt/capitalization will be around 41.5% at
year-end 2019 and will be around 40% at year-end 2020. Fitch also
expects debt/EBITDA will be below 3.5x and interest coverage around
4.0x by year-end 2019 and during 2020.

Land Strategy: As of Sept. 30, 2019, the company controlled 29,066
lots, of which 51.1% were owned and the remaining lots controlled
through options. Based on LTM closings, MHO controlled 4.7 years of
land and owned roughly 2.4 years of land. MHO has one of the
highest percentage of lots under option and one of the lowest
owned-lot positions among the builders in Fitch's coverage. This
strategy reduces the risk of downside volatility and impairment
charges in a contracting housing market.

Land and Development Spending: MHO spent $552.5 million on land and
development activities in 2018, up from $528.9 million and $407.8
million in 2017 and 2016, respectively. YTD Sept. 30, 2019, MHO has
spent $443.9 million on land and development, up from the $408.8
million spent during the same period last year. MHO expects land
and development spending will total between $575 million and $600
million for fiscal 2019. Fitch is comfortable with this strategy
given the company's healthy liquidity position, well-laddered
debt-maturity schedule and management's demonstrated ability to
manage spending. Fitch expects management will pull back on
spending if the housing recovery stalls or dissipates.

Cash Flow: The company reported negative $2.6 million of cash flow
from operations (CFFO [Fitch-defined: CFFO minus preferred
dividends]) in 2018 after reporting negative $56 million of CFFO
during 2017. For the Sept. 30, 2019 LTM period, MHO generated $73.5
million of CFFO. Fitch expects MHO will be modestly CFFO positive
this year despite higher land and development spending as revenue
and profitability improve. The company repurchased $5.2 million of
shares in first-quarter 2019 (1Q19) under its $50 million
share-repurchase program, but did not repurchase any in the second
or third quarters. Fitch expects MHO will be modestly CFFO negative
in 2020 due to higher land and development spending, although
spending will be driven in part by market conditions. MHO has
sufficient liquidity to cover negative cash flow in 2020 if housing
market conditions remain favorable and MHO continues higher
spending on land and development activities.

Speculative Inventory: Management estimates that of the total
number of homes closed in 2018 and 2017, about 45% and 47%,
respectively, were speculative (spec) homes. MHO ended 3Q19 with
1,513 spec homes, of which 531 were completed. Total specs at the
end of 3Q19 were 5.4% above the previous year's level, while total
completed specs were 6.8% higher yoy. This translates into about
6.8 specs per average community (2.4 completed specs per
community), at the end of 3Q19, flat compared with end of 3Q18.

The company has spec homes in order to facilitate delivery of homes
on an immediate-need basis. The company has been able to
effectively manage its spec activity in the past, although Fitch
generally views high spec activity as a credit negative, all else
equal, as rapidly deteriorating market conditions could result in
sharply lower margins.

Somewhat Limited Geographic Diversity: MHO offers homes for sale in
221 communities across 15 local markets in 10 states. The company
has a top-10 position in 12 of the 50 largest MSAs in the country.
The company has expanded into new markets in the past few years,
entering the Minneapolis/St. Paul market in December 2015 with the
acquisition of the residential homebuilding operations of Hans
Hagen Homes, Inc. In July 2016, MHO entered the Sarasota, FL,
market by opening a new division. In March 2018, MHO completed the
acquisition of Pinnacle Homes, giving the company entry into the
Detroit market.

Slight New Housing Growth in 2020: Housing activity has rebounded
in the second-half 2019 (2H19) after slowing in 2H18 and 1H19 due
to lower interest rates and slowing home price appreciation. Fitch
expects the improvement to continue at a slight pace, leading to a
0.5% increase in housing starts in 2019 and a 1.4% increase in
2020, with new home sales growth of 9.0% in 2019 and 1.5% in 2020.
The first-time and affordable product segment should continue to
outperform move-up and luxury segments in 2020 as affordability
remains constrained and millennial buyers continue to enter the
market.

DERIVATION SUMMARY

MHO's ratings reflect the company's execution of its business model
in the current housing environment, its conservative land policies,
management's demonstrated ability to manage land and development
spending, healthy liquidity position, and stable credit metrics.
Risk factors include the cyclical nature of the homebuilding
industry, MHO's somewhat limited geographic diversity and its
relatively high speculative-inventory levels.

MHO's credit metrics and EBITDA margin are weaker compared with
Meritage Homes Corporation (BB/Positive). The company is also
smaller and less geographically diversified than Meritage. However,
MHO has a more conservative land strategy, with roughly half of its
lots controlled through options compared with 34% for Meritage.
Meritage also has a more aggressive speculative building activity
compared with MHO.

KEY ASSUMPTIONS

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

  -- Total U.S. housing starts improve 0.2% in 2019 and 1.4% in
2020;

  -- Revenues improve mid to high single-digits in 2019 and low
single-digits in 2020;

  -- Slightly higher EBITDA margins in 2019 and 2020 compared with
2018;

  -- MHO generates slightly positive cash flow from operations in
2019;

  -- Net debt to capitalization of about 41.5% at year-end 2019 and
40% at year-end 2020;

  -- Debt to EBITDA at or below 3.5x at year-end 2019 and 2020.

RATING SENSITIVITIES

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

  -- The company increases its size and/or further enhances its
geographic diversification and local market leadership position;

  -- MHO commits to maintaining net debt/capitalization below 45%
and the company's net debt/capitalization is consistently at or
below 40%.

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

  -- There is sustained erosion of profits due to either weak
housing activity, meaningful and continued loss of market share,
and/or ongoing land, materials and labor cost pressures, resulting
in margin contraction and weakened credit metrics (including net
debt/capitalization consistently approaching 50%) and the MHO
continues to maintain an aggressive land and development spending
program, leading to a diminished liquidity position;

  -- If MHO's liquidity position (cash plus revolver availability)
falls sharply and cannot cover maturities over the next two years
and any cash flow shortfall in the next 12 months, this would also
pressure the rating.

LIQUIDITY AND DEBT STRUCTURE

Healthy Liquidity Position: As of Sept. 30, 2019, MHO had $33
million of unrestricted cash and $244.5 million of borrowing
availability under its $500 million revolving credit facility
($189.9 million outstanding and $65.6 million of letters of credit
outstanding) that matures in July 2021. The company has sufficient
liquidity to cover working capital needs in the intermediate term.
Fitch expects the company will extend the maturity of its revolver
well ahead of its scheduled maturity date.

Debt Maturities: As of Sept. 30, 2019, MHO has no major debt
maturities until January 2021, when $300 million of senior notes
mature. Following the redemption of the 2021 notes, the next
maturity will be in 2025, when $250 million of senior notes
mature.

SUMMARY OF FINANCIAL ADJUSTMENTS

  -- Historical and projected EBITDA is adjusted to add back
non-cash stock-based compensation and interest expense included in
cost of sales and also excludes impairment charges and land option
abandonment costs and non-recurring acquisition and integration
costs.

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.


M/I HOMES: Moody's Rates New $350MM Unsec. Notes Due 2028 'B1'
--------------------------------------------------------------
Moody's Investors Service assigned a B1 rating to M/I Homes, Inc.'s
proposed $350 million of senior unsecured notes due 2028. All of
the company's other ratings remain unchanged. The stable outlook is
also unchanged.

The new notes are being issued to refinance M/I Homes' existing
$300 million 6.75% senior notes due 2021 in their entirety, which
will be completed through a redemption. The rest of the offering
proceeds will be used to reduce revolver borrowings under the
company's $500 million unsecured credit facility expiring in 2021.
The new notes will be guaranteed by all of M/I Homes' subsidiaries
that guarantee its 2025 unsecured notes and its revolving credit
facility. Pro forma credit metrics, including debt to book
capitalization of 45% and homebuilding interest coverage of 4.0x,
are little changed from their respective levels as of September 30,
2019 upon this refinancing. The transaction enhances the company's
liquidity by extending its maturity profile and increasing
availability under its revolving credit facility to about $290
million on a pro forma basis.

The following rating actions were taken:

Issuer: M/I Homes, Inc.:

Proposed $350 million senior unsecured notes due 2028, assigned a
B1 (LGD4)

RATINGS RATIONALE

M/I Homes' B1 Corporate Family Rating is supported by the
company's: 1) strong market position in its key markets that have
good economic fundamentals; 2) prudent balance sheet management and
financial strategy as it relates to its homebuilding debt to
capitalization leverage, acquisitions and share repurchases; 3)
well-balanced land position; 4) focus on the first-time product for
about one third of the business; and 5) Moody's stable outlook on
the US homebuilding industry, reflecting the expectation of
supportive market fundaments over the next 12 to 18 months.

At the same time, the rating is constrained by: 1) Moody's
expectations that rising land, labor and materials costs and
reduced pricing power of homebuilders will challenge gross margins;
2) investments in land and land development that periodically
restrain cash flow from operations; 3) risks of potential
shareholder friendly activities given M/I Homes available share
repurchase program; and 4) broad based affordability challenges
constraining growth for the homebuilding sector.

The stable outlook reflects Moody's expectation that M/I Homes'
performance will continue to benefit from stable operating
fundamentals in the homebuilding industry.

The principal methodology used in this rating was Homebuilding And
Property Development Industry published in January 2018.

Headquartered in Columbus, Ohio and formed in 1976, M/I Homes, Inc.
sells homes under the M/I Homes and Showcase Collection brands, the
Hans Hagen brand in the Minneapolis/St. Paul, Minnesota market, and
the Pinnacle Homes brand in the Detroit, Michigan market. The
company has homebuilding operations in Columbus and Cincinnati,
Ohio; Indianapolis, Indiana; Chicago, Illinois; Minneapolis/St.
Paul, Minnesota; Detroit, Michigan; Tampa, Sarasota and Orlando,
Florida; Austin, Dallas/Fort Worth, Houston and San Antonio, Texas;
and Charlotte and Raleigh, North Carolina. In the twelve months
ended September 30, 2019, the company generated approximately $2.4
billion in homebuilding revenues.


MAINEGENERAL MEDICAL: Moody's Affirms Ba3 Rating on $279MM Bond
---------------------------------------------------------------
Moody's Investors Service affirmed the Ba3 revenue bond rating on
MaineGeneral Medical Center. At the same time, Moody's revised the
outlook to positive from stable. This rating action affects about
$279 million in rated debt.

RATINGS RATIONALE

MGMC's Ba3 rating will reflect challenges associated with
relatively high leverage as well as limited cash levels and
covenant headroom although these measures will likely show some
ongoing improvement. MGMC's profitability will remain highly
reliant on its 340B drug discount savings and its contract pharmacy
business for profitability, which will provide uncertainty in light
of regulatory scrutiny. Nonetheless, the system will benefit from
limited competition and a leading market position. Volume trends,
which recently improved, will be supported by the opening of a new
express care facility and the recruitment of new physicians.
Additionally, a largely fee-for-service commercial payor
environment and the recent introduction of a Medicaid expansion
program will contribute to better margins. MGMC will also require
moderate capital needs in light of a relatively new replacement
hospital.

RATING OUTLOOK

The change to a positive outlook reflects Moody's view that MGMC
will likely be able to sustain moderate margins as well as improve
leverage and liquidity. This would provide greater assurance that
MGMC would be able to sustain better covenant headroom.

FACTORS THAT COULD LEAD TO AN UPGRADE

  - Continue to maintain better headroom under financial covenants

  - Sustain operating cash flow margin improvement

  - Ongoing increase in absolute and relative liquidity

  - Further deleveraging of balance sheet

FACTORS THAT COULD LEAD TO A DOWNGRADE

  - Inability to sustain improved covenant headroom

  - Decline in operating performance

  - Higher leverage or reduced liquidity

LEGAL SECURITY

Bonds are secured by a pledge of gross receipts of the Obligated
Group, a mortgage lien on the main campus, and a debt service
reserve fund. As additional security, there is a surety bond for
$15 million secured by the Harold Alfond Foundation. The Obligated
Group includes MaineGeneral Health, MaineGeneral Medical Center,
MaineGeneral Community Care, and MaineGeneral Rehabilitation and
Long Term Care.

PROFILE

MaineGeneral Health is comprised of two campuses; MaineGeneral
Medical Center's Alfond Center for Health which provides inpatient
and outpatient services and the Thayer Center for Health in
Waterville, which provides outpatient care and a 24/7 Emergency
Department. MaineGeneral also operates home care, hospice,
community mental health services and long-term care facilities
through its subsidiaries.


MAVERICK PURCHASER: Moody's Assigns 'B2' CFR, Outlook Stable
------------------------------------------------------------
Moody's Investors Service assigned initial ratings, including a B2
corporate family rating and Ba3 first lien ratings for Maverick
Purchaser Sub, LLC, the acquisition vehicle through which two
financial sponsors will acquire AECOM's Managed Services segment in
a leveraged buyout. The ratings outlook is stable.

RATINGS RATIONALE

The B2 CFR reflects initial leverage and liquidity characteristics
roughly on par with other private equity led buy-outs in the
defense services sector, including pro forma beginning leverage in
the low-6x range, free cash flow-to-debt in the 5% range, and an
adequate liquidty profile. The CFR also recognizes Maverick's
competitive scale at more than $4 billion of annual revenue across
three segments with fairly broad service and contract diversity,
its capacity to lead large (particularly critical infrastructure)
programs, a sizeable backlog, and established operations that are
unlikely to face major disruption through the business separation.

According to Moody's lead analyst, Bruce Herskovics "high initial
leverage and a contract mix that generates below sector
profitability are factors that compound Maverick's limited
financial reporting history and only adequate liquidity profile."

"However, Maverick's ability to lead large programs, as indicated
by its $19 billion backlog -- almost 5x annual revenue -- reflects
a relatively strong business profile and gives a degree of added
creditworthiness relative to other B2-rated LBOs," added
Herskovics.

The B2 CFR also factors in Moody's expectation that improvement in
key credit metrics should occur near-term, but this may be muted
over time given the new owners' ambition to grow the company's
promising, higher margin IS4 segment, which could drive future
acquisition-related leveraging of the balance sheet. Moody's
anticipates that debt-to-EBITDA will fall into the 5x range during
FY2021 in the absence of debt-funded M&A activity. Important to
Maverick's near-term revenue growth, which Moody's anticipates will
be in the 2%-3% range, will be the retention of a key contract that
is up for recompete in 2020.

The company's 6% EBITDA margin profile and the high degree of
cost-based contracts are important considerations to the rating.
Maverick's longstanding position within US Department of Energy
("DoE") nuclear remediation contracting benefits the company's
qualifications for program and construction management. These
capabilities hold relevance within many defense related programs,
as well, such as those related to mission readiness and contingency
operations. The emphasis on critical infrastructure results in a
margin profile that is below average when compared to defense
contractors that focus on technical or professional services, but
the backlog opportunity is greater in Moody's estimation. With
cost-based contracts comprising almost three-quarters of the
revenue base, Maverick faces less risk of profit swings from higher
program costs, but the contract mix also restricts the extent to
which the company can translate operational efficiencies into
higher earnings. A historical emphasis on critical infrastructure
has brought Maverick a lot of joint venture opportunities, which
somewhat lessens performance visibility and results in a material
degree of minority interest ownership and added complexity.

Moody's views the company's liquidity profile to be adequate.
Excluding cash held by consolidated joint ventures, initial cash
will be diminimus, and the planned revolver's $200 million
commitment is not very large relative to the company's size.
Moody's anticipates some light revolver borrowing initially, until
cash flow accumulates by the second or third quarter of the
company's independent operations. Near-term free cash flow
generation should be around $50 million, but could be as high as
$80 million, according to Moody's.

The Ba3 rating for the first lien credit facility is two notches
above the CFR, reflecting the presence of effectively junior second
lien debt and unsecured non-debt liabilities that would likely
absorb much loss in a stress scenario and thereby improves the
recovery prospects for first lien creditors.

The stable rating outlook reflects the company's large backlog,
historically good contract execution, and a supportive federal
contracting environment, which together should permit de-leveraging
to the 5x range during FY2021.

Upward rating momentum would depend on Moody's expectation of
leverage being sustained below 5x, free cash flow-to-debt in the
10% range or higher, and the company's maintenance of a stronger
liquidity profile. Downward rating pressure would mount with
leverage continuing at 6x or more, sustained reliance on the
revolving credit facility and/or revenue problems.

The following is a summary of Moody's rating actions:

Assignments:

Issuer: Maverick Purchaser Sub, LLC

Corporate Family Rating, Assigned B2

Probability of Default Rating, Assigned B2-PD

Senior Secured Bank Credit Facility, Assigned Ba3 (LGD3)

Outlook Actions:

Issuer: Maverick Purchaser Sub, LLC

Outlook, Assigned Stable

Maverick Purchaser Sub LLC, the acquisition vehicle through which
the Managed Services segment of AECOM will be acquired in a
leveraged buyout, provides engineering, cybersecurity, nuclear
remediation and operations/maintenance services to the US federal
government and allied governments. Revenues for the twelve months
ended September 30, 2019 were $4.0 billion. The company will be
owned by entities of financial sponsors American Securities and
Lindsay Goldberg.

The principal methodology used in these ratings was Aerospace and
Defense Industry published in March 2018.


MCBB CORP: Seeks to Hire Wauson Probusas as Legal Counsel
---------------------------------------------------------
MCBB Corp. seeks approval from the U.S. Bankruptcy Court for the
Southern District of Texas to hire Wauson Probusas as its legal
counsel.
   
The firm will provide services in connection with the Debtor's
Chapter 11 case, which include bankruptcy-related legal advice
concerning its continued operation; representation in adversary
proceedings and post-petition administrative matters; negotiations
for financing; and the preparation of a reorganization plan.

The firm's hourly fees are:

     John Wesley Wauson   $450
     Matthew Probus       $450
     Anabel King          $250
     Sharon Dianiska      $100
     Ginger Davis         $100
     Oralia Martinez      $100
  
Wauson Probusas does not have any interest materially adverse to
the Debtor's bankruptcy estate and creditors, according to court
filings.

The firm can be reached through:

     Mathew B. Probus, Esq.
     Wauson Probusas
     One Sugar Creek Center Blvd., Suite 880
     Sugar Land, TX 77478
     Phone: (281) 242-0303
     Fax: (281) 242-0306
     E-mail: mbprobus@w-plaw.com

                         About MCBB Corp.

MCBB Corp. sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. S.D. Tex. Case No. 19-37075) on Dec. 30, 2019.  At the
time of the filing, the Debtor had estimated assets of between
$100,001 and $500,000 and liabilities of between $500,001 and $1
million.  Judge Jeffrey P. Norman oversees the case.  Mathew B.
Probus, Esq., at Wauson Probusas, is the Debtor's legal counsel.


MCDERMOTT INT'L: Egan-Jones Lowers Sr. Unsec. Ratings to CC
-----------------------------------------------------------
Egan-Jones Ratings Company, on December 31, 2019, downgraded the
foreign currency and local currency senior unsecured ratings on
debt issued by McDermott International Incorporated to CC from
CCC.

McDermott International, Inc. is Panamanian-domiciled multinational
engineering, procurement, construction, and installation company
with operations in the Americas, Middle East, the Caspian Sea, and
the Pacific Rim. Incorporated in Panama, it is headquartered in the
Energy Corridor area of Houston, Texas.



MECHANICAL TECHNOLOGIES: Hires Robison Sharp as Special Counsel
---------------------------------------------------------------
Mechanical Technologies Corp. d/b/a Alpine Air, seeks authority
from the U.S. Bankruptcy Court for the District of Nevada to employ
Robison Sharp Sullivan & Brust, as special counsel to the Debtor.

Mechanical Technologies requires Robison Sharp to represent and
provide legal services to the Debtor in connection with the filing
of an adversary proceeding against Michael Donovan, Advanced Air,
and others responsible for business losses related to the Debtor
and the unauthorized taking of substantially all of the Debtor's
California assets without compensation. Michael Donovan owns 49% of
the Debtor's shares, and his brother John Donovan owns the
remaining 51% of the Debtor's share.

Robison Sharp will be paid at these hourly rates:

     Attorneys              $300 to $500
     Paralegals                 $140

Robison Sharp will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Kent R. Robison, partner of Robison Sharp Sullivan & Brust, 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.

Robison Sharp can be reached at:

     Kent R. Robison, Esq.
     ROBISON SHARP SULLIVAN & BRUST
     71 Washington St.
     Reno, NV 89503
     Tel: (775) 329-3151
     Fax: (775) 329-7941

                About Mechanical Technologies

Mechanical Technologies d/b/a Alpine Air --
http://alpineheatingandair.com/-- specializes in offering single
source contracting for all residential and commercial design/build
needs. The Company services and installs residential heating and
air conditioners. Alpine Air has designed, installed and serviced
projects including computer rooms, environmental chambers,
manufacturing facilities, biotech laboratories, burn-in rooms, and
dry rooms. Alpine Air was established in 1987.

Mechanical Technologies Corp. d/b/a Alpine Air, based in Reno, NV,
filed a Chapter 11 petition (Bankr. D. Nev. Case No. 19-51146) on
Sept. 26, 2019. In the petition signed by John Donovan, president,
the Debtor was estimated to have $1 million to $10 million in both
assets and liabilities.  The Hon. Bruce T. Beesley oversees the
case.  Stephen R. Harris, Esq., at Harris Law Practice LLC, serves
as bankruptcy counsel and  Robison Sharp Sullivan & Brust, is
special counsel.



NAUGHTON PLUMBING: Seeks to Extend Exclusivity Period to March 6
----------------------------------------------------------------
Naughton Plumbing Sales Co., Inc. and its affiliates asked the U.S.
Bankruptcy Court for the District of Arizona to extend the
exclusive period to file a Chapter 11 plan to March 6 and the
period to solicit acceptances for the plan to May 6.

The companies have spent considerable time during the first four
months of their bankruptcy cases litigating a motion to dismiss,
filing an adversary case against their primary secured creditor,
the Jerry Fan and Lei Bao Living Trust dated Oct. 7, 2009, and
defending a personal guaranty suit filed by the trust.

In addition, because of a constrained budget, the companies have
been unable to bring their year-end financials up to date in order
to run accurate projections for their plan.  The companies are
currently hiring an assistant accountant to help their chief
financial officer bring the financials current.  Until the
financials are brought current, the companies believe formulating a
plan and determining its feasibility is almost impossible.

Furthermore, now that the litigation between the companies and
Jerry Fan has come to a bit of a standstill, the companies can
focus on working hard toward promulgating a plan beneficial to all
creditors.

                About Naughton Plumbing Sales

Naughton Plumbing Sales Co. Inc. -- http://www.naughtons.com/
--specializes in the retail and wholesale distribution and sale of
plumbing, heating, evaporative cooling, air conditioning,
electrical, hardware, and lawn and garden supplies.

Naughton Plumbing Sales Co. Inc., FWN Investments LLC and Naughton
Construction LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Ariz. Lead Case No. 19-11441) on Sept.
9, 2019. In the petition signed by Frank W. Naughton, president,
Naughton Plumbing was estimated to have assets between $1 million
and $10 million and liabilities of the same range. Smith & Smith
PLLC is the Debtor's counsel.




NEOVASC INC: Closes $10 Million Registered Direct Offering
----------------------------------------------------------
Neovasc Inc. has closed its previously announced registered direct
offering priced at-the-market under Nasdaq rules of an aggregate of
1,185,000 series A units and 1,241,490 series B units at a price of
US$4.1351 per Series A Unit and US$4.135 per Series B Unit for
aggregate gross proceeds to the Company of approximately US$10
million, before deducting placement agent's fees and estimated
expenses of the Offering payable by the Company.

H.C. Wainwright & Co. acted as the exclusive placement agent for
the Offering.

Each Series A Unit consists of one common share of the Company and
one warrant to purchase one common share.  Each Warrant entitles
the holder to acquire one common share of the Company at a price of
US$4.1351 at any time prior to the date which is four years
following the date of issuance.  Each Series B Unit consists of one
pre-funded warrant of the Company and one Warrant.  Each Pre-Funded
Warrant entitles the holder to acquire one common share of the
Company at a price of US$0.0001 at any time until the exercise in
full of each Pre-Funded Warrant.  After deducting the placement
agent's fees and other offering expenses payable by Neovasc, the
Company received net proceeds of approximately US$8.9 million.
Neovasc intends to use the net proceeds from the Offering for the
development and commercialization of the Neovasc Reducer,
development of the Tiara and general corporate and working capital
purposes.

The Units and the securities comprising the Units were offered
pursuant to a shelf registration statement (including a prospectus)
previously filed with and declared effective by the Securities and
Exchange Commission on July 13, 2018 and were qualified for
distribution in each of the provinces of British Columbia, Alberta,
Saskatchewan, Manitoba and Ontario by way of a final prospectus
supplement to the Company's base shelf prospectus dated July 12,
2018.  The Company offered and sold the securities in the United
States only.  No securities were offered or sold to Canadian
purchasers.

A prospectus supplement and accompanying prospectus relating to the
Offering have been filed with the SEC and are available for free on
the SEC's website at www.sec.gov and are also available on the
Company's profile on the SEDAR website at www.sedar.com. Electronic
copies of the final prospectus supplement and the accompanying
prospectus relating to the Offering may be obtained from H.C.
Wainwright & Co., LLC, 430 Park Avenue 3rd Floor, New York, NY
10022, or by calling (646) 975-6996 or by emailing
placements@hcwco.com.

The Company relied upon the exemption set forth in Section 602.1 of
the TSX Company Manual, which provides that the Toronto Stock
Exchange will not apply its standards to certain transactions
involving eligible interlisted issuers on a recognized exchange,
such as the Nasdaq Capital Market.

                        About Neovasc Inc.

Based in Richmond, British Columbia, Neovasc Inc. --
http://www.neovasc.com/-- is a specialty medical device company
that develops, manufactures and markets products for the rapidly
growing cardiovascular marketplace.  Its products include the
Neovasc Reducer, for the treatment of refractory angina, which is
not currently available in the United States and has been available
in Europe since 2015, and the Tiara, for the transcatheter
treatment of mitral valve disease, which is currently under
clinical investigation in the United States, Canada and Europe.

Neovasc reported a net loss of US$108.04 for the year ended Dec.
31, 2018, compared to a net loss of US$22.90 million for the year
ended Dec. 31, 2017.  As of March 31, 2019, Neovasc had US$16.09
million in total assets, US$18.89 million in total liabilities, and
a total deficit of US$2.80 million.

Grant Thornton LLP, in Vancouver, BC, the Company's auditor since
2002, issued a "going concern" opinion in its report on the
Company's consolidated financial statements for the year ended Dec.
31, 2018, stating that the Company incurred a net loss of US$108.04
million during the year ended Dec. 31, 2018, and as of that date,
the Company's liabilities exceeded its assets by US$9.67 million.
These conditions, along other matters, raise substantial doubt
about the Company's ability to continue as a going concern.


PIER 1 IMPORTS: Incurs $58.9 Million Net Loss in Third Quarter
--------------------------------------------------------------
Pier 1 Imports, Inc., filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q reporting a net loss
of $58.95 million on net sales of $358.42 million for the 13 weeks
ended Nov. 30, 2019, compared to a net loss of $50.44 million on
net sales of $413.23 million for the 13 weeks ended Dec. 1, 2018.

For the 39 weeks ended Nov. 30, 2019, the Company reported a net
loss of $241.22 million on $977.33 million of net sales compared to
a net loss of $130.03 million on $1.14 billion of net sales for the
39 weeks ended Dec. 1, 2018.

As of Nov. 30, 2019, the Company had $1.15 billion in total assets,
$533.78 million in total current liabilities, $258.25 million in
long-term debt, $487.87 million in long-term operating lease
liabilities, $18.03 million in other noncurrent liabilities, and a
total shareholders' deficit of $147.70 million.

The Company ended the third quarter of fiscal 2020 with $11.1
million in cash and cash equivalents, compared to $54.9 million at
the end of fiscal 2019 and $71.1 million at the end of the third
quarter of fiscal 2019.  The decrease from the end of fiscal 2019
was primarily the result of cash used in operating activities of
$145.9 million and the utilization of cash to fund the Company's
capital expenditures of $10.1 million, partially offset by net cash
borrowings of $96.0 million under the Revolving Credit Facility and
$14.2 million under Company owned life insurance (COLI) loans.

During the first 39 weeks of fiscal 2020, operating activities used
$145.9 million of cash, primarily as a result of a net loss of
$241.2 million, partially offset by adjustments for non-cash
items.

During the first 39 weeks of fiscal 2020, investing activities used
$7.3 million of cash, which were primarily related to capital
expenditures of $10.1 million deployed toward technology and
infrastructure initiatives and existing stores, partially offset by
net restricted investment activity.  Of those capital expenditures,
$1.8 million related to timing differences between receipt of fixed
asset purchases and cash payment of invoices. Capital spend in
fiscal 2020 is expected to be approximately $15 million.

During the first 39 weeks of fiscal 2020, financing activities
provided $109.3 million of cash, primarily resulting from net cash
borrowings of $96.0 million under the Revolving Credit Facility and
$14.2 million under COLI loans.

                    Sources of Working Capital

The Company's sources of working capital include cash from
operations, available cash balances, the COLI policies and, as
needed, borrowings against the Company's Revolving Credit Facility.
The Company's key drivers of cash flows are sales, management of
inventory levels, vendor payment terms, management of expenses and
capital expenditures.

Given the Company's current cash position, expected operating cash
flows and borrowings available under the Revolving Credit Facility,
the Company has substantial doubt regarding its ability to have
sufficient liquidity to fund its obligations and working capital
needs through the next 12 months.

However, the Company is taking a number of actions to support its
ongoing transformation including cost cutting, lowering capital
expenditures, seeking additional capital and reducing its store
footprint including related distribution centers and corporate
headquarter support.  The Company said it will continue to seek
reductions in rental obligations with landlords in its
determination of the appropriate footprint.

A full-text copy of the Form 10-Q is available for free at the
SEC's website at:

                     https://is.gd/3lJITU

                         About Pier 1

Founded with a single store in 1962, Pier 1 Imports -- pier1.com --
is an omni-channel retailer of unique home decor and accessories.
The Company's products are available through 936 Pier 1 stores in
the U.S. and online at pier1.com.

Pier 1 reported a net loss of $198.83 million for the 52 weeks
ended March 2, 2019.

                            *   *   *

As reported by the TCR on April 29, 2019, S&P Global Ratings
lowered the issuer credit rating on U.S. home decor and furniture
retailer Pier 1 Imports Inc. to 'CCC-' from 'CCC+'.  The downgrade
reflects S&P's view that the potential for a bankruptcy filing or
debt restructuring is continuing to increase, given its expectation
for continued negative profits over the coming year.

In December 2018, Moody's Investors Service changed the ratings
outlook for Pier 1 Imports, Inc. to negative from stable following
the company's third-quarter fiscal 2019 results and announcement
that it is exploring strategic alternatives. Concurrently, Moody's
affirmed the company's Caa1 Corporate Family Rating, Caa1-PD
Probability of Default Rating, Caa2 senior secured term loan rating
and SGL-3 Speculative Grade Liquidity rating.


PIER 1 IMPORTS: Posts $59 Million Net Loss in 2019 Q3
-----------------------------------------------------
Pier 1 Imports, Inc., on Monday released financial results for the
third quarter ended November 30, 2019.

Third Quarter Fiscal 2020 Financial Summary:

     -- Company comparable sales decreased 11.4% compared to the
third quarter of fiscal 2019; the Company estimates that the shift
of certain holiday selling days, which were included in last year's
fiscal third quarter, negatively impacted third quarter fiscal 2020
company comparable sales by approximately 650 basis points. The
impact of this timing shift is expected to reverse in the fourth
quarter of fiscal 2020;

     -- Net sales decreased 13.3% to $358.4 million compared to the
third quarter of fiscal 2019;

     -- Net loss of $59.0 million, or ($14.15) per share;

     -- Impairment charges totaling $14.1 million which consisted
of $9.2 million for lease right-of-use assets and $4.9 million for
fixed assets;

     -- Inventory of $328.9 million, down approximately 15.3%
year-over-year; and

     -- Cash and cash equivalents of $11.1 million at quarter end,
$189.5 million outstanding under its senior secured term loan,
$50.0 million of borrowings under the Company's FILO tranche, $96
million of borrowings under its $350 million revolving credit
facility and $46.5 million in letters of credit outstanding under
the Revolving Credit Facility, with $158.5 million remaining
available for cash borrowings, all as of November 30, 2019.

Robert Riesbeck, Pier 1's Chief Executive Officer and Chief
Financial Officer, said, "Fiscal third quarter sales and margins
remained under pressure as we completed our efforts to clear out
non-go-forward merchandise. Looking ahead, we believe that we will
deliver improved financial results over time as we realize the
benefits of our business transformation and cost-reduction
initiatives. To further advance our progress, we are announcing
additional actions today that will enable us to move forward with
an appropriately sized store footprint and operating structure as
an omni-channel retailer, and better position Pier 1 to meet our
customers where they shop."

According to the Company, net sales for the third quarter of fiscal
2020 decreased 13.3% to $358.4 million, compared to $413.2 million
for the third quarter of fiscal 2019. Company comparable sales
decreased 11.4% compared to the year ago period, primarily as a
result of lower traffic. In addition, the Company estimates that
the shift of certain holiday selling days, which were included in
last year's fiscal third quarter, negatively impacted third quarter
fiscal 2020 company comparable sales by approximately 650 basis
points. The impact of this timing shift is expected to reverse in
the fourth quarter of fiscal 2020.

The Company posted a net loss of $50.4 million for the same quarter
in 2018.

The Company operated 942 stores at the end of the third quarter, a
decrease of 45 from the third quarter of fiscal 2019. As of Jan. 6,
it had 936 Pier 1 stores in the U.S. and also sells online at
pier1.com.

                          *     *     *

A Bloomberg News report before the quarterly results were released
indicated that the Company aims to restructure out of court, in
part by closing stores and using the savings to boost liquidity,
according to people with knowledge of the plan.  Lauren
Coleman-Lochner and Katherine Doherty, writing for Bloomberg News,
reported that the unnamed sources said a bankruptcy filing is an
option under consideration if Pier 1 falls short of its goals.

Bloomberg says Pier 1 is working with a team of advisers to
restructure operations, including Kirkland & Ellis LLP,
AlixPartners LLP and Guggenheim Partners LLC.

A copy of the Company's earnings release is available at
https://is.gd/aQ3jRl

A copy of its quarterly report filed with the Securities and
Exchange Commission is available at https://is.gd/3lJITU

                    About Pier 1 Imports

Founded with a single store in 1962, Forth Worth, Texas-based Pier
1 Imports, Inc. (NYSE:PIR) is an omni-channel retailer of unique
home decor and accessories.

In April 2019, S&P Global Ratings lowered the issuer credit rating
on Pier 1 Imports to 'CCC-' from 'CCC+'.  S&P said the downgrade
reflects its view that the potential for a bankruptcy filing or
debt restructuring is continuing to increase, given its expectation
for continued negative profits over the coming year.  The negative
outlook on Pier 1 reflects S&P's view that some form of
restructuring is increasingly likely given its accelerated cash
burn, the deterioration of its profitability, and the challenges
associated with rapidly executing its turnaround plans under a new
management team.

As of Nov. 30, 2019, the Company had $1.15 billion in total assets
and $1.30 billion in total liabilities.


PIER 1 IMPORTS: To Shutter Up to 450 Locations
----------------------------------------------
Pier 1 Imports, Inc. said Monday that, to better align its business
with the current operating environment, the Company intends to
reduce its store footprint by up to 450 locations. To reflect the
revised store footprint, the Company also plans to close certain
distribution centers and reduce its corporate expenses. This
includes a reduction in corporate headcount.

The Company has 936 Pier 1 stores in the U.S. and also sells online
at pier1.com.

In order to maintain the same high standards customers have come to
expect and ensure a seamless experience for customers at these
locations, the Company is utilizing the services of a third-party
liquidator to help manage the store closings.

On January 6, 2020, the Company received consent from its lenders
under the Revolving Credit Facility to permit the reduction to the
store footprint and related actions.

Robert Riesbeck, Pier 1's Chief Executive Officer and Chief
Financial Officer, said, "Although decisions that impact our
associates are never easy, reducing the number of our
brick-and-mortar locations is a necessary business decision. We
thank our team of hard-working associates for their commitment to
Pier 1 and to serving our customers."

Founded with a single store in 1962, Forth Worth, Texas-based Pier
1 Imports, Inc. (NYSE:PIR) is an omni-channel retailer of unique
home decor and accessories.

In April 2019, S&P Global Ratings lowered the issuer credit rating
on Pier 1 Imports to 'CCC-' from 'CCC+'.  S&P said the downgrade
reflects its view that the potential for a bankruptcy filing or
debt restructuring is continuing to increase, given its expectation
for continued negative profits over the coming year.  The negative
outlook on Pier 1 reflects S&P's view that some form of
restructuring is increasingly likely given its accelerated cash
burn, the deterioration of its profitability, and the challenges
associated with rapidly executing its turnaround plans under a new
management team.

                          *     *     *

A Bloomberg News report has indicated that the Company aims to
restructure out of court, in part by closing stores and using the
savings to boost liquidity, according to people with knowledge of
the plan.  Lauren Coleman-Lochner and Katherine Doherty, writing
for Bloomberg News, reported that the unnamed sources said a
bankruptcy filing is an option under consideration if Pier 1 falls
short of its goals.

Bloomberg says Pier 1 is working with a team of advisers to
restructure operations, including Kirkland & Ellis LLP,
AlixPartners LLP and Guggenheim Partners LLC.



POLYONE CORP: Egan-Jones Lowers Sr. Unsec. Ratings to BB-
---------------------------------------------------------
Egan-Jones Ratings Company, on January 2, 2020, downgraded the
foreign currency and local currency senior unsecured ratings on
debt issued by PolyOne Corporation to BB- from BB.

Headquartered in Avon Lake, Ohio, PolyOne Corporation is a global
provider of specialized polymer materials and services. PolyOne has
operations in thermoplastic compounds, specialty polymer
formulations, color and additive systems, thermoplastic resin
distribution, and vinyl resins.



PRIDE TRUCK: Seeks to Hire KC Cohen as Attorney
-----------------------------------------------
Pride Truck Wash, LLC, seeks authority from the U.S. Bankruptcy
Court for the Southern District of Indiana to employ KC Cohen,
Lawyer, PC, as attorney to the Debtor.

Pride Truck requires KC Cohen to:

   a) give the Debtor advice with respect to its duties, powers
      and responsibilities in the bankruptcy case;

   b) investigate and pursue any actions on behalf of the estate
      in order to recover assets for or best enable this estate
      to reorganize fairly;

   c) represent the Debtor in these proceedings in an effort to
      maximize the value of the assets available herein, and to
      pursue confirmation of a successful Plan of Reorganization;
      and

   d) perform such other legal services as may be required and in
      the interest of the estate herein.

KC Cohen will be paid at the hourly rate of $350.

KC Cohen received from the Debtor the amount of $11,712 from which
a pre-petition invoice of $6,717 representing services rendered to
prepare the case for filing was paid to KC Cohen leaving a balance
on hand of $4,995, which remains in the Firm's trust account.

KC Cohen will also be reimbursed for reasonable out-of-pocket
expenses incurred.

KC Cohen, partner of KC Cohen, Lawyer, PC, 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.

KC Cohen can be reached at:

     KC Cohen, Esq.
     KC Cohen, Lawyer, PC
     151 N. Delaware St., Ste. 1106
     Indianapolis, IN 46204-2573
     Tel: (317) 715-1845
     Fax: (317) 636-8686
     E-mail: kc@smallbusiness11.com

                     About Pride Truck Wash

Pride Truck Wash, LLC is a privately held company that provides
automotive washing and polishing services at its facility located
in Shepardsville, Kentucky.

The company filed a Chapter 11 petition Date (Bankr. S.D. Ind. Case
No. 19-08369) on Nov. 8, 2019 in Indianapolis, Indiana. In the
petition signed by Jay Bryant, president, the Debtor reported total
assets at $283,307, and total liabilities at $2,696,966. Judge
Jeffrey J. Graham is the presiding judge. KC COHEN, LAWYER, PC, is
the Debtor's counsel.



QUOTIENT LIMITED: Names New Chief Financial Officer Peter Buhler
----------------------------------------------------------------
Quotient Limited has appointed Peter Buhler as chief financial
officer replacing Chris Lindop, the current CFO who plans to retire
in May 2020.  Mr. Buhler will assume the responsibilities of CFO on
Feb. 5, 2020 at which time Mr. Lindop will transition to an
executive vice president role, reporting directly to Franz Walt,
Quotient's chief executive officer.

Mr. Lindop, who will support the Company during the transitional
phase and work directly for Mr. Walt on other strategic priorities,
has also agreed to be available, as needed, in a consulting
capacity following his retirement in May.

Franz Walt, Quotient's CEO commented, "I would like to thank Chris
for his pivotal contribution to the success of the company over the
past three years and I am glad that his plans will permit him to
continue with us to help Peter successfully transition into his new
role and also to work closely with me on other critical projects
for some time to come."

Peter brings 20 years of experience in the strategic and financial
leadership of life science and technology businesses in both the
public and private sectors, including, Merck Serono, Anteis SA,
Logitech SA and more recently with Stallergenes Greer Plc and
Zaluvida AG, where he served as Group chief financial officer.

Mr. Buhler's current annual base salary for fiscal year 2020 will
be Swiss Francs (CHF) 380,000, and he is eligible to receive
employee benefits that are customary for other senior executives of
the Company located in Switzerland.

Mr. Walt continued, "We are extremely pleased to have Peter join us
and to have him build on the strong foundation which Chris Lindop
leaves as his legacy."

In connection with his planned retirement, on Jan. 3, 2020, the
Company and Mr. Lindop entered into a transition agreement,
pursuant to which, in recognition of Mr. Lindop's service to the
Company and for providing the services of chief financial officer
through the transition date and executive vice president through
the retirement date, Mr. Lindop will receive a single cash payment
of $420,000 (equal to twelve months base salary).

              Appointment of Chief Operating Officer
                     Chief Commercial Officer

In connection with the Company's ongoing initiative to optimize
structure and stream-line processes in preparation for
commercialization and organic growth, Ed Farrell, formerly
president of Quotient, has been appointed as the Company's new
chief operating officer.  Mr. Farrell, a senior executive at
Quotient since 2013, was in charge of leading MosaiQ research and
development activities and established the Company's ISO certified
microarray facility.

Jeremy Stackawitz, the Company's president, has also been appointed
as its chief commercial officer.  The Company has entered into
amendments, each dated Jan. 7, 2020, to its Service Agreement,
dated Nov. 21, 2012, with Mr. Farrell and to its Employment
Agreement, dated March 9, 2009, with Mr. Stackawitz, in connection
with these appointments.

Mr. Farrell's new annual base salary, with effect as of Jan. 1,
2020, will be GBP346,340.  He will also receive a grant of 2,232
RSUs, with a grant date of Jan. 7, 2020, which will vest in three
equal installments on each first, second and third anniversary of
the grant date.

Mr. Walt added, "Ed joined us 7 years ago, and in that time, he has
made a significant positive impact on the organization.  I have
full confidence in Ed's capability as Chief Operating Officer and I
am delighted that he has accepted this new appointment.  I am
confident we have a very strong structure and team in place which
will permit us to continue to exploit the opportunity which
MosaiQ's multimodality, multiplexing technology platform
presents."

                    About Quotient Limited

Penicuik, United Kingdom-based Quotient Limited is a
commercial-stage diagnostics company committed to reducing
healthcare costs and improving patient care through the provision
of innovative tests within established markets.  With an initial
focus on blood grouping and serological disease screening, Quotient
is developing its proprietary MosaiQTM technology platform to offer
a breadth of tests that is unmatched by existing commercially
available transfusion diagnostic instrument platforms.  The
Company's operations are based in Edinburgh, Scotland; Eysins,
Switzerland and Newtown, Pennsylvania.

Quotient Limited reported a net loss of $105.4 million for the year
ended March 31, 2019, a net loss of $82.33 million for the year
ended March 31, 2018, and a net loss of $85.06 million for the year
ended March 31, 2017.  As of Sept. 30, 2019, the Company had
$176.97 million in total assets, $223.91 million in total
liabilities, and a total shareholders' deficit of $46.94 million.


RAINBOW LAND: Asks Court to Extend Exclusivity Period to March 25
------------------------------------------------------------------
Rainbow Land & Cattle Company, LLC asked the U.S. Bankruptcy Court
for the District of Nevada to extend its exclusivity period to file
a Chapter 11 plan of reorganization to March 25 and a corresponding
extension of the period to obtain confirmation of the plan to May
24.

Rainbow Land said it is working to sell most of its assets to pay
all creditors in full and needs more time to prepare a plan. The
company believes it will be able to formulate an acceptable plan
prior to March 25.

                About Rainbow Land & Cattle Company

Rainbow Land & Cattle Company, LLC, a privately held company
engaged in activities related to real estate, sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. D. Nev. Case No.
19-50627) on May 30, 2019.  The Debtor previously sought bankruptcy
protection (Bankr. D. Nev. Case No. 12-14009) on April 4, 2012.

At the time of the filing, the Debtor disclosed assets of between
$1 million and $10 million and liabilities of the same range.

The case has been assigned to Judge Bruce T. Beesley.  The Debtor
is represented by Holly E. Estes, Esq., at Estes Law, P.C.


REMARK HOLDINGS: Fails to Comply with Nasdaq's Market Value Rule
----------------------------------------------------------------
Remark Holdings, Inc. received written notice from the Listing
Qualifications Department of The Nasdaq Stock Market LLC on Dec.
30, 2019, notifying the Company that, for a period of 30
consecutive business days, the Company failed to maintain a minimum
Market Value of Listed Securities of $35 million required for
continued listing on the Nasdaq Capital Market pursuant to Nasdaq
Listing Rule 5550(b)(2).  In accordance with Nasdaq Listing Rule
5810(c)(3)(C), the Company has 180 calendar days, or until June 29,
2020, to regain compliance.  If, at any time during the 180-day
grace period, the Company's MVLS closes at $35 million or more for
a minimum of 10 consecutive business days, the Company will have
regained compliance and Nasdaq will provide the Company with
written confirmation of such.

The Company previously received written notice from Nasdaq of its
failure to comply with the $1.00 per share minimum bid price
requirement for continued listing on the Nasdaq Capital Market and
that it has until May 18, 2020 to regain compliance.  If, at any
time during such grace period, the closing bid price of the
Company's common stock is at least $1.00 per share for a minimum of
10 consecutive business days, the Company will have regained
compliance and Nasdaq will provide it with written confirmation.

If the Company does not regain compliance with either of these
continued listing requirements during the applicable grace periods,
Nasdaq will give the Company written notice that its securities are
subject to delisting.  In the event of such notification, the
Company may appeal Nasdaq's determination to delist its securities,
but there can be no assurance Nasdaq would grant its request for
continued listing.

The Company's common stock will continue to be listed and traded on
the Nasdaq Capital Market during the applicable grace periods,
subject to the Company's compliance with the other continued
listing requirements of the Nasdaq Capital Market.

                        Remark Holdings

Remark Holdings -- http://www.remarkholdings.com/-- delivers an
integrated suite of AI solutions that enable businesses and
organizations to solve problems, reduce risk and deliver positive
outcomes.  The company's easy-to-install AI products are being
rolled out in a wide range of applications within the retail,
financial, public safety and workplace arenas.  The Company also
owns and operates digital media properties that deliver relevant,
dynamic content and ecommerce solutions.  The company is
headquartered in Las Vegas, Nevada, with additional operations in
Los Angeles, California and in Beijing, Shanghai, Chengdu and
Hangzhou, China.

Remark reported a net loss of $21.56 million for the year ended
Dec. 31, 2018, following a net loss of $106.73 million for the year
ended Dec. 31, 2017.  As of Sept. 30, 2019, the Company had $21.48
million in total assets, $41.71 million in total liabilities, and a
total stockholders' deficit of $20.22 million.

Cherry Bekaert LLP, in Atlanta, Georgia, the Company's auditor
since 2011, issued a "going concern" qualification in its report
dated April 1, 2019, citing that the Company has suffered recurring
losses from operations and negative cash flows from operating
activities and has a negative working capital and a stockholders'
deficit that raise substantial doubt about its ability to continue
as a going concern.


RRNB 1290: Seeks to Hire Villa & White as Legal Counsel
-------------------------------------------------------
RRNB 1290, LLC, seeks approval from the U.S. Bankruptcy Court for
the Western District of Texas to hire Villa & White LLP as its
legal counsel.
   
The firm will provide services in connection with the Debtor's
Chapter 11 case, which include bankruptcy-related legal advice;
negotiation with its creditors; examination of witnesses; and the
preparation of a bankruptcy plan.

Morris White III, Esq., the firm's attorney who will be handling
the case, charges an hourly fee of $350.

Villa & White does not hold any interest adverse to the Debtor and
its bankruptcy estate, according to court filings.

The firm can be reached through:

     Morris E. White III, Esq.
     Villa & White LLP
     1100 NW Loop 410 #802
     San Antonio, TX 78213
     Phone: (210) 225-4500
     Fax: (210) 212-4649
     Email: treywhite@villawhite.com

                          About RRNB 1290

RRNB 1290, LLC is a single asset real estate debtor (as defined in
11 U.S.C. Section 101(51B)).

RRNB 1290 sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. W.D. Texas Case No. 19-52854) on Dec. 2, 2019.  At the time
of the filing, the Debtor had estimated assets of less than $50,000
and liabilities of between $1 million and $10 million.  Judge Craig
A. Gargotta oversees the case.  The Debtor is represented by Morris
E. White III, Esq., at Villa & White LLP.


RRNB 8400: Seeks to Hire Villa & White as Legal Counsel
-------------------------------------------------------
RRNB 8400, LLC, seeks approval from the U.S. Bankruptcy Court for
the Western District of Texas to hire Villa & White LLP as its
legal counsel.
   
The firm will provide services in connection with the Debtor's
Chapter 11 case, which include bankruptcy-related legal advice;
negotiation with its creditors; examination of witnesses; and the
preparation of a bankruptcy plan.

Morris White III, Esq., the firm's attorney who will be handling
the case, charges an hourly fee of $350.

Villa & White does not hold any interest adverse to the Debtor and
its bankruptcy estate, according to court filings.

The firm can be reached through:

     Morris E. White III, Esq.
     Villa & White LLP
     1100 NW Loop 410 #802
     San Antonio, TX 78213
     Phone: (210) 225-4500
     Fax: (210) 212-4649
     E-mail: treywhite@villawhite.com

                         About RRNB 8400

RRNB 8400 LLC, a privately held company based in New Braunfels,
Texas, sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. W.D. Texas Case No. 19-52855) on Dec. 2, 2019.  At the time
of the filing, the Debtor disclosed assets of between $1 million
and $10 million and liabilities of the same range.  Judge Craig A.
Gargotta oversees the case.  The Debtor is represented by Morris E.
White III, Esq., at Villa & White LLP.


RYAN HINTON: Cash Collateral Use Extended Until Feb. 4
------------------------------------------------------
Judge Terry L. Myers of the U.S. Bankruptcy Court for the District
of Idaho extended Ryan Hinton, Inc.'s use of cash collateral to and
until the Final Hearing which will be heard on Feb. 4, 2020, at
9:30 a.m.

The Debtor is authorized the continued use of cash collateral for
an approximately one-month extended period pursuant to the same
terms, conditions, and limitations, including authorizations for
adequate protection and the language incorporating the stipulation
entered into between the Debtor and D.L. Evans Bank, as set forth
in the Court's previous Order.

The Debtor has sought for a short-term extension of the Cash
Collateral Order to allow it the necessary time to complete its
analysis and preparation of the noted pleadings, which will
directly inform the Debtor's next six-month cash collateral
projections and budget.

                       About Ryan Hinton

Ryan Hinton Inc. -- https://ryanhintoninc.com/ -- is a family-owned
company that offers over-the-road (OTR) trucking services.  Ryan
Hinton sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. D. Idaho Case No. 19-40481) on May 20, 2019.  At the time
of the filing, the Debtor disclosed $4,417,715 in assets and
$5,821,757 in liabilities.  

The case is assigned to Judge Jim D. Pappas.

Angstman Johnson is the Debtor's legal counsel.  Dicks & Workman
Attorneys at Law, APC, is special counsel.



SADDY FAMILY: Plan Says Claims to Be Paid from Assets Sale
----------------------------------------------------------
Saddy Family, LLC, LASV, Inc. and SJV, Inc., filed a liquidation
plan, under which the Debtors seek to sell their assets in order to
satisfy their debts.  The Plan will be funded by the sale of the
assets of the Debtors by auction with a reserve.

The Plan proposes to treat claims and interests as follows:

   * Class 1 Secured Claim of Shore Community Bank. IMPAIRED. The
secured claim filed by Shore Community Bank will be paid in full
from the proceeds of the sale of the assets.

   * Class 2 Secured Claim of New Jersey Economic Development
Authority, secured by a UCC-1 Financing Statement on the personal
property of Saddy Family, LLC. IMPAIRED. The secured claim filed by
The New Jersey Economic Development Authority will be partially
crammed down to the value of the collateral of $129,000.00 and
shall be paid from the proceeds of the sale of the assets The
balance of $250,104.27 shall be reclassified and paid in accordance
with Class 9 General Unsecured Claims.

   * Class 3 Secured Claim of New Jersey Economic Development
Authority, secured by a UCC-1 Financing Statement on the personal
property of LASV, Inc. IMPAIRED. The secured claim filed by The New
Jersey Economic Development Authority as against LASV, Inc. will be
partially crammed down to the value of the collateral of
$201,727.00 and shall be paid from the proceeds of the sale of the
assets. The balance of $1,151,824.37 shall be reclassified and paid
in accordance with Class 10 General Unsecured Claims.

   * Class 4 Secured Claim of New Jersey Economic Development
Authority, secured by a UCC-1 Financing Statement on the personal
property of SJV, Inc. IMPAIRED. The secured claim filed by The New
Jersey Economic Development Authority as against SJV, Inc. will be
partially crammed down to the value of the collateral of
$117,702.00 and shall be paid from the proceeds of the sale of the
assets. The balance of $606,763.86 shall be reclassified and paid
in accordance with Class 11 General Unsecured Claims.

   * Class 5 Secured Claim of ATCF II NJ LLC. IMPAIRED. The secured
claim filed by ATCF II NJ LLC as against Saddy Family, LLC will be
paid in full from the proceeds of the sale of the assets of Saddy
Family, LLC by auction, which shall take place within two (2)
months subsequent to the Effective Date.

   * Class 6 Secured Claim of ATCF II NJ LLC. IMPAIRED. The secured
claim filed by ATCF II NJ LLC as against Saddy Family, LLC will be
paid in full from the proceeds of the sale of the assets.

   * Class 7 Secured Claim of Dianne H. Clemente. IMPAIRED. The
reclassified secured claim of Dianne H. Clemente as against Saddy
Family, LLC will be paid in full from the proceeds of the sale of
the assets.

   * Class 8 Secured Claim of Sunshine State Certificates VII LLLP.
IMPAIRED. The secured claim of Sunshine State Certificates VII LLLP
as against Saddy Family, LLC will be paid in full from the proceeds
of the sale of the assets.

   * Class 9 Saddy Family, LLC's General Unsecured Claims.
IMPAIRED. Total amount of claims $534,580.59. Payment to the
General Unsecured Creditors of Saddy Family, LLC will be paid in
full from the proceeds of the sale of the assets.

   * Class 10 LASV, Inc.'s General Unsecured Claims. IMPAIRED.
Total amount of claims $1,503,227.50. Payment to the General
Unsecured Creditors of LASV, Inc. will be paid in the form of a
pro-rata distribution from the proceeds of the sale of the liquor
license of LASV, Inc. to the extent available, and one-half (1/2)
of any remaining proceeds from the sale of the assets of Saddy
Family, LLC by auction, which shall take place within two months
subsequent to the Effective Date.

   * Class 11 SJV, Inc.'s General Unsecured Claims. Total amount of
claims $902,666.68. Payment to the General Unsecured Creditors of
SJV, Inc. will be paid in the form of a pro rata distribution from
the proceeds of the sale of the liquor license of SJV, Inc. to the
extent available, and one-half (1/2) of any remaining proceeds from
the sale of the assets of Saddy Family, LLC by auction, which shall
take place within two months subsequent to the Effective Date.

   * Class 12 Equity Holder of Saddy Family, LLC. IMPAIRED. Paid to
the extent available after payment of all other creditor claims.

   * Class 13 Equity Holder of LASV, Inc. IMPAIRED. Paid to the
extent available after payment of all other creditor claims.

   * Class 14 Equity holder of SJV, Inc. IMPAIRED. Paid to the
extent available after payment of all other creditor claims.

A full-text copy of the First Modified Disclosure Statement dated
Dec. 13, 2019, is available at https://tinyurl.com/wjfcp3c from
PacerMonitor.com at no charge.

Attorney for the Debtors:

     EUGENE D. ROTH
     Valley Park East
     2520 Highway 35, Suite 307
     Manasquan, New Jersey 08736
     Tel: (732) 292-9288

                       About Saddy Family

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 was formed as a real estate
holding company for the properties used by SJV and LASV.

Saddy Family, LLC, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D.N.J. Case No. 19-14223) on Feb. 28, 2019.
The Debtor is related to, and associated with, debtors LASV Inc.
under Case No. 19-14218 and SJV, Inc. under Case No. 19-14220-KCF.

At the time of the filing, Saddy Family was estimated to have
assets of less than $50,000 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 Debtors' counsel.


SARAH ZONE: Unsecureds Owed $4.33-Mil. to Split $500,000
--------------------------------------------------------
Sarah Zone, Inc., and its Official Committee of Unsecured Creditors
have proposed a reorganization plan.

Pursuant to the Plan, the Reorganized Debtor will continue to
service its secured debts in accordance with the applicable
contracts and loan obligations as modified under the Plan.  Holders
of general unsecured claims will receive pro rata shares of the
total sum of $500,000 on the Effective Date of the Plan.  All
existing equity interests will be cancelled and extinguished with
no distribution under the Plan.

Allowed general unsecured claims are estimated to be approximately
$4,331,410. On the Effective Date, each holder of an allowed Class
5 claim will receive a pro rata share of a lump-sum payment of
$500,000.

This payment to the unsecured creditors and the Debtor's successful
emergence from Chapter 11 will deleverage the Debtor's balance
sheet and improve the Debtor's cash flow.  The Debtor notes that
the Committee is a co-proponent of the Plan, which is an indication
of the creditors' support for, and confidence in, the Debtor's
operations towards a profitable future.

On the Effective Date, the Plan pays the amount of $698,375, which
is comprised of the approximately $195,875 needed to pay
administrative claims, the initial payment of $2,500 to Chong Taek
Lee, and the payment of $500,000 payable to creditors in Class 5.
The Effective Date is projected to occur on or about April 20,
2020.  As of the filing of this Plan, the Reorganized Debtor is
projected to have cash on hand of approximately $90,000 by the
Effective Date.  Not later than 14 days prior to Plan confirmation
hearing, Tae Hyun Yoo will deposit the New Value Contribution of
$640,000 in a client trust account maintained by Debtor's counsel,
LNBYB.

A hearing to consider approval of the Disclosure Statement is
slated for Feb. 5, 2020.

A full-text copy of the Disclosure Statement dated Dec. 13, 2019,
is available at https://tinyurl.com/wnzpkt3 from PacerMonitor.com
at no charge.

Attorneys for the Debtor:

     JULIET Y. OH
     LEVENE, NEALE, BENDER, YOO & BRILL L.L.P.
     10250 Constellation Boulevard, Suite 1700
     Los Angeles, California 90067
     Telephone: (310) 229-1234
     Facsimile: (310) 229-1244
     E-mail: JYO@LNBYB.com

Attorneys for the Official Committee of Unsecured Creditors:

     AMY L. GOLDMAN
     SCOTT LEE
     LOVEE D. SARANAS
     LEWIS BRISBOIS BISGAARD & SMITH LLP
     633 W. 5th Street, Suite 4000
     Los Angeles, California 90071
     Telephone: (213) 580-7944 Facsimile: (213) 580-7921
     E-mail: Amy.Goldman@lewisbrisbois.com
             Scott.Lee@lewisbrisbois.com
             Lovee.Saranas@lewisbrisbois.com

                        About Sarah Zone

Sarah Zone, Inc., is a merchant wholesaler of apparel, piece goods,
and notions.  The company filed its Articles of Incorporation in
California on Oct. 5, 2004, according to public records filed with
California Secretary of State.

Sarah Zone sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. C.D. Cal. Case No. 18-20836) on Sept. 17, 2018.  In
the petition signed by Tae Hyun Yoo, president, the Debtor
disclosed $3,833,130 in assets and $7,301,855 in liabilities.
Judge Sandra R. Klein oversees the case.  The Debtor tapped Levene,
Neale, Bender, Yoo & Brill LLP, as its legal counsel.


SKFR INC: Hires Uptown Business as Real Estate Broker
-----------------------------------------------------
SKFR, Inc., seeks authority from the U.S. Bankruptcy Court for the
Eastern District of Texas to employ Uptown Business Brokers, as
real estate broker to the Debtor.

SKFR, Inc. requires Uptown Business to market and sell the Debtor's
commercial property located at Tyler Texas.

Uptown Business will be paid a commission of 6% of the gross sales
price.

Alice Williams, a partner at Uptown Business Brokers, 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.

Uptown Business can be reached at:

     Alice Williams
     UPTOWN BUSINESS BROKERS
     400 Crescent Ct.
     Dallas, TX 75201
     Tel: (888) 492-0291

                        About SKFR, Inc.

SKFR, Inc., filed a Chapter 11 bankruptcy petition (Bankr. E.D.
Tex. Case No. 19-60674) on Dec. 4, 2019, disclosing under $1
million in both assets and liabilities. The Debtor is represented
by Eric A. Liepins, P.C.



SLANDY INC: Authorized to Use Cash Collateral on Interim Basis
--------------------------------------------------------------
Judge Caryl E. Delano of the U.S. Bankruptcy Court for the Middle
District of Florida authorized Slandy, Inc.'s use of cash
collateral to fund its operating expenses and costs of
administration in the Chapter 11 case for the duration of the
chapter 11 case.

The Debtor is authorized to use cash collateral to pay: (a) amounts
expressly authorized by the Court, including payments to the U.S.
Trustee for quarterly fees; (b) the current and necessary expenses
set forth in the budget, plus an amount not to exceed 10% for each
line item; and (c) such additional amounts as may be expressly
approved in writing by the Secured Creditors.

Fundation Group LLC; FC Marketplace, LLC; and Corporation Service
Company, as Representative,  may claim blanket liens against the
Debtor's assets.  The Debtor estimates that the collective claims
of the Secured Creditors totaled $304,072,  secured by $68,214 in
cash and accounts receivable.

As adequate protection for the use of cash collateral: (a) the
Debtor will grant the Secured Creditors access to Debtor's business
records and premises for inspection; (b) the Secured Creditors will
have perfected post-petition liens against cash collateral to the
same extent and with the same validity and priority as the
prepetition liens, without the need to file or execute any document
as may otherwise be required under applicable non bankruptcy law;
and (c) the Debtor will maintain insurance coverage for its
property in accordance with the obligations under the loan and
security documents with the Secured Creditors.

                     About Slandy, Inc.

Slandy, Inc. d/b/a Executive Care --
https://north-pinellas.executivehomecare.com/ -- provides a full
range of in-home care services to clients who are residing in a
hospitals, assisted living or skilled nursing facilities that may
need extra personal attention.  These home care services can range
from companion care and personal care to 24/7 and Live-In care, and
more.

Slandy, Inc. filed its voluntary petition under Chapter 11 of the
Bankruptcy Code (Bankr. M.D. Fla. Case No. 19-11554) on Dec. 6,
2019. In the petition signed by Andrew E. Corbett, president, the
Debtor estimated $193,351 in assets and $1,041,442 in liabilities.
Buddy D. Ford, Esq. at Buddy D. Ford, P.A. represents the Debtor as
counsel.



SMG US MIDCO 2: Moody's Hikes CFR to B1, Outlook Stable
-------------------------------------------------------
Moody's Investors Service upgraded SMG US Midco 2, Inc.'s Corporate
Family Rating to B1 from B3 and Probability of Default Rating to
B1-PD from B3-PD and second lien term loan rating to B3 from Caa2.
At the same time, Moody's confirmed SMG's B1 senior secured first
lien term loan rating and SMG Holdings, LLC's B1 senior secured
revolving credit facility rating expiring 2023. Moody's also
assigned a B1 rating to the SMG Holdings, LLC's new revolving
credit facility expiring in October 2024. The outlook is stable.
This concludes the review for upgrade initiated on October 2, 2019,
following the merger of SMG with AEG Facilities, LLC in an
all-stock transaction, forming a new entity ASM Global.

SMG's equity sponsor Onex and Anschutz Entertainment Group, Inc.,
and their respective affiliates are contributing their entire
equity investments in SMG and AEG Facilities, respectively, into
the combined business and are now equal co-owners of ASM. The
operations of AEG Facilities were added as secured guarantors of
SMG's debt.

The upgrade reflects the increased scale, regional and contractual
diversity and the market presence of the combined entity, ASM
Global. The upgrade also reflects the significant de-leveraging and
improvement in the company's profitability and cash flow generation
because of the addition of AEG Facilities' earnings. Pro forma for
the merger, adjusted debt/EBITDA leverage is estimated to improve
to 5.5x (as of September 2019) from 7.7x on a standalone basis.
Moody's projects free cash flow to be roughly 7% of debt in 2020.
New contract wins and realization of operational synergies is
expected to drive further improvement in these credit metrics.
Moody's also expect ASM's financial policy to reflect a more
conservative approach under the new ownership structure given the
presence of AEG despite the continued 50% interest held by equity
sponsor Onex. AEG's other significant asset holdings do not provide
credit support to SMG's debt, but Moody's believes the branding and
inter-relationship of ASM's facilities management operations with
AEG aligns interests that helps to partially mitigate risk from
cyclical downturns.

ASM will also utilize proceeds from a $190 million incremental
first lien term loan to fully repay the second lien term loan,
repay outstanding draws under its revolving credit facility and pay
other fees and expenses. As a part of the transaction, ASM is also
upsizing its revolving credit facility to $96 million and extending
the expiration by one year to October 2024. The confirmation of the
B1 first lien senior secured ratings and the assignment of the B1
to the new revolving credit facility reflects that following the
repayment of second lien term loan, the first lien debt will
comprise the entire debt structure. The instrument ratings are
subject to the closing of the refinancing. Moody's expects to
withdraw the B1 rating on the existing revolver expiring in 2023
and the B3 rating on the second lien term loan upon completion of
the refinancing.

Upgrades:

Issuer: SMG US Midco 2, Inc.

Corporate Family Rating, Upgraded to B1 from B3

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

Gtd Senior Secured Second Lien Term Loan, Upgraded to B3 (LGD5)
from Caa2 (LGD5)

Confirmations:

Issuer: SMG US Midco 2, Inc.

Gtd Senior Secured First Lien Term Loan, Confirmed at B1 (LGD3)

Issuer: SMG Holdings, LLC

Gtd Senior Secured First Lien Revolving Credit Facility, Confirmed
at B1 (LGD3)

Assignments:

Issuer: SMG Holdings, LLC

Gtd Senior Secured First Lien Revolving Credit Facility, Assigned
B1 (LGD3)

Outlook Actions:

Issuer: SMG Holdings, LLC

Outlook, Changed To Stable From No Outlook

Issuer: SMG US Midco 2, Inc.

Outlook, Changed To Stable From Rating Under Review

RATINGS RATIONALE

ASM's B1 CFR is constrained by the company's small revenue size of
less than $600 million, elevated debt-to-EBITDA leverage of 5.5x
(on pro forma basis as of September 2019), lack of operating
history as a merged entity and the cyclical risk in the business.
ASM's leading position with over 322 properties in 21 countries and
improved diversity across geographies, venues and contract types
strengthens its competitive position. The company's long-term
contracts with retention rate of above 90% provides a degree of
predictability to revenues over the next year, while the trend
towards outsourcing the management of convention centers and other
facilities by municipalities supports future growth opportunities.
Moody's expects adjusted debt/EBITDA leverage to decline to 5.0x
over the next 12-18 months, with improvement weighed toward the
backend of the projection period as the new contract wins ramp up
in 2021. While the facilities management contracts provide a
baseline of earnings to support the credit profile, P&L accounts
and incentive based fees drive a large portion of the company's
profitability and are subject to cyclical risk. Customer
concentration is also high creating risk if a client changes
service providers or insources the property management. The rating
also reflects Moody's expectation that ASM will adhere to a more
conservative financial policy than when Onex was sole owner and
that decisions relating to leverage, future acquisitions and
shareholder distributions requiring approval from both
shareholders. Moody's expects the company to manage leverage lower
and that any future transactions will not result in leverage
exceeding the level pro forma for the SMG-AEG Facilities merger.

The stable outlook reflects Moody's expectation that low single
digit organic revenue growth, an EBITDA margin above 20% and
improved operating leverage in core markets will reduce
debt-to-EBITDA leverage to 5.0x over the next 12-18 months. Moody's
also expects the company to maintain good liquidity including free
cash flow of above $40 million.

The ratings will be downgraded if the company's revenue growth or
EBITDA margin weakens from current levels, debt-to-EBITDA leverage
is sustained above 5.5x or free cash flow falls below 5% of debt.
The rating could also be downgraded if financial policy is more
aggressive than anticipated including if there are meaningful
debt-financed acquisition or shareholder distributions. Given ASM's
small scale, narrow operating scope, and partial private equity
ownership, an upgrade is unlikely over the next two years. However,
if ASM's scale and revenue diversity increases, debt/EBITDA is
sustained below 4.0x, the company generates free cash flow above
10% of debt, and demonstrates a commitment to a conservative
financial policy, the ratings could be upgraded.

The principal methodology used in these ratings was Business and
Consumer Service Industry published in October 2016.

ASM Global is a leading venue management company including arenas,
convention centers, stadiums and theaters. The company typically
assumes full managerial responsibility for all aspects of facility
operations, including event booking and event management, and may
also provide certain ancillary services such as food and beverage
service. Pro forma for the merger, revenue is estimated to be $500
million as of LTM period ending September 30, 2019. ASM is co-owned
by funds affiliated with Onex Partners and AEG Venue Management
Holdings, LLC.


STABLELIFT OF TEXAS: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Stablelift of Texas, Inc.
           dba StableLift Foundation Repair
        6410 S. I-35
        New Braunfels, TX 78703

Business Description: Stablelift of Texas, Inc. --
                      http://www.stableliftfoundationrepair.com--
                      is a provider of concrete slab home
                      foundation repair, stabilization, and
                      elevation recovery services.

Chapter 11 Petition Date: January 8, 2020

Court: United States Bankruptcy Court
       Western District of Texas

Case No.: 20-10048

Debtor's Counsel: Frank B. Lyon, Esq.
                  FRANK B. LYON - ATTORNEY AT LAW
                  3508 Far West Blvd.
                  Suite 170
                  Austin, TX 78731
                  Tel: (512) 345-8964
                  E-mail: frank@franklyon.com

Total Assets: $0

Total Liabilities: $1,158,771

The petition was signed by Brent Goodman, president.

A copy of the petition containing, among other items, a list of the
Debtor's 20 largest unsecured creditors is available for free at
PacerMonitor.com at:

                   https://is.gd/RlaZwS


SUNOCO LP: Fitch Affirms 'BB' LongTerm IDR, Outlook Stable
----------------------------------------------------------
Fitch Ratings affirmed Sunoco, LP's Long-Term Issuer Default Rating
at 'BB'. Additionally, Fitch has affirmed SUN's and Sunoco Finance
Corp.'s, which is a co-issuer on SUN's senior unsecured bonds,
senior unsecured rating at 'BB'/'RR4.' Fitch has also affirmed
SUN's senior secured revolver at 'BB+'/'RR1.' The Rating Outlook is
Stable.

KEY RATING DRIVERS

Gross Margin Stability: As part of the sale of its retail franchise
in 2018, SUN entered into a 15-year take-or-pay fuel supply
agreement with 7-Eleven, Inc. and SEI Fuel Services, Inc., a wholly
owned subsidiary of 7-Eleven under which SUN will supply
approximately 2.2 billion gallons of fuel annually. This supply
agreement has guaranteed annual payments to SUN, provides that
7-Eleven will continue to use the Sunoco brand at currently branded
Sunoco stores, and includes committed growth in future periods.
Fitch believes that this agreement along with wholesale revenues
from SUN's other distributor, dealer, and commercial channel sales,
reductions in selling, general and administrative costs, and rental
income should all provide a stable sources of revenue and cash flow
generation for SUN and offset some of the business risks associated
with the competitiveness of the wholesale fuels distribution
sector. SUN's ability to control operating expenses and continue to
drive growth will be key performance indicators going forward.

Modest Leverage: Fitch believes that the wholesale fuel business,
supported in part by the contract with 7-Eleven, should generate
fairly consistent earnings and cash flows. Total earnings and cash
flow for SUN are expected to grow modestly in the forecast years,
supported in part by organic growth spending and acquisitions.
Management's stated objective to run the business with a leverage
(total debt/adjusted EBITDA) target of 4.5x to 4.75x and
distribution coverage of 1.2x or higher should result in an
appropriately capitalized SUN, consistent with Fitch's expectations
for 'BB' category midstream issuers with limited business line
diversification and some geographic concentration. For 2019, Fitch
anticipates leverage (total debt/operating EBITDA) of approximately
4.7x and remaining close to that for 2020.

Sponsor Relationship: SUN's ratings reflect its stand-alone credit
profile with no express linkage to its parent company. However,
SUN's ratings do consider its relationship with its sponsor and the
owner of its general partner Energy Transfer Operating, LP
(BBB-/Stable) as being generally favorable. SUN is part of the
Energy Transfer family of partnerships. Energy Transfer Operating,
LP, owns 100% of SUN's incentive distribution rights and the
non-economic general partner interest in SUN and a significant
amount of SUN's outstanding limited partnership units. Fitch
believes SUN's affiliation with its sponsor generally provides
modest benefits, particularly in providing an option for financing,
like SUN's March 2017 preferred equity offering, or a potential
lever for retaining near-term cash through distribution waivers
provided by its sponsor or affiliate partnerships. However, no
waivers have been announced or are expected in Fitch's base case
forecast. These benefits are not typically available to stand-alone
partnerships, and Fitch believes the affiliation with its sponsor
ultimately helps lessen event, financing, and operating risks.
Energy Transfer and other publicly traded partnerships have
recently made moves to simplify their structures and eliminate
incentive distribution payments. SUN has no current plans to
eliminate its incentive distribution payments.

Highly Fragmented, Competitive Sector: Concerns include high levels
of competition within the wholesale motor fuel distribution sector,
which is highly fragmented. Wholesale fuel sales are largely tied
to demand for diesel and regular gasoline. Domestic U.S. gasoline
demand is expected to be relatively flat after peaking in 2017.
SUN's ability to drive growth will depend largely on its ability to
acquire wholesale customers organically, or grow through
acquisitions, which has the potential to weigh on balance sheet
metrics, depending on how growth is financed. Management has a
publicly stated leverage target of 4.5x to 4.75x and distribution
coverage target above 1.2x, which Fitch believes indicates a
willingness to prudently manage growth and distribution policy with
an eye on maintaining reasonable credit metrics.

DERIVATION SUMMARY

SUN's focus primarily on wholesale motor fuel distribution and
logistics is unique relative to Fitch's other midstream energy
coverage. Wholesale fuel distribution tends to be a highly
fragmented market with low operating margins and largely dependent
on motor fuel demand which can be seasonal and cyclical. Sunoco
LP's leverage has improved to levels more consistent with a
mid-'BB' rating for midstream energy names. Near term (2020-2022),
Fitch expects SUN's leverage to be in line with other seasonally or
cyclically exposed midstream energy names. Fitch estimates that
SUN's 2020 leverage will be in the 4.5x to 5.0x range compared to
NuStar Energy, LP (BB/Stable), which Fitch expects to have leverage
improve towards that range by YE 2021 as it completes several large
scale projects. SUN's leverage is also expected to be in line with
'BB' rated Amerigas Partners, LP, which had trailing four quarters
leverage at June 30, 2019 of roughly 5.3x, although retail propane
demand tends to be more seasonally affected than motor fuel demand
and APU's outstanding common equity units were recently bought by
its parent company, UGI Corp. SUN's size and scale is expected to
be consistent, though slightly larger, with Fitch's view on 'BB'
rated master limited partnerships, which tend to have EBITDA of
roughly $500 million per year with concentrated business line
exposure, like SUN's focus on wholesale distribution, or limited
geographic diversity, which SUN does not possess given its wide
geographic reach within the U.S.

KEY ASSUMPTIONS

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

  -- FYE 2019 in-line with management's public guidance;

  -- Revolver borrowings and retained earnings used to fund
     capital needs;

  -- Total capex, inclusive of growth, acquisition and
     maintenance spending, between $200 million and $250 million
     annually 2019-2022;

  -- Distributions held at current levels throughout forecast.

RATING SENSITIVITIES

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

  -- Leverage (total debt/adjusted EBITDA) sustained at or near
     4.0x on a sustained basis with distribution coverage
     sustained at or near 1.1x.

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

  -- Distribution coverage ratio below 1.0x, combined with
leverage
     ratios above 5.0x on a sustained basis could result in
     negative rating action.

  -- EBIT margin at or below 1.5% on a sustained basis could lead
     to a negative ratings action.

LIQUIDITY AND DEBT STRUCTURE

Liquidity Adequate: As of Sept. 30, 2019, SUN had $13 million in
cash and $1.3 billion in availability under its revolving credit
agreement. SUN has no maturities until 2023.

On July 27, 2018, SUN amended its credit agreement to extend the
maturity out to 2023. The agreement requires the company to
maintain a net leverage ratio below 5.5x and an interest coverage
ratio above 2.25x. The agreement allows for a maximum leverage
ratio of 6.0x during a specified acquisition period. As of Sept.
30, 2019, SUN was in compliance with its covenants, and Fitch
believes that SUN will remain in compliance with its covenants. The
revolver is secured by a security interest in, among other things,
all of SUN's present and future personal property and all of the
present and future personal property of its guarantors, the capital
stock of its material subsidiaries (or 66% of the capital stock of
material foreign subsidiaries), and any intercompany debt.

SUMMARY OF FINANCIAL ADJUSTMENTS

Fitch has not made any financial statement adjustments that depart
materially from those contained in SUN's published financial
statements.

ESG CONSIDERATIONS

Unless otherwise disclosed in this section, the highest level of
Environmental, Social and Governance (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.

The '4' GST exposure is a result of a complex group structure with
significant related party transactions and ownership concentration
arising from SUN's GP and incentive distribution rights ownership
by Energy Transfer. Fitch generally views these factors as having a
negative impact to SUN's credit profile as the incentive
distribution rights can raise a master limited partnership issuers
equity cost of capital and make it more reliant on debt financing
in pursuit of growth spending and acquisitions.


SWEET WOLVERINE: Taps David F. Rogers as Accountant
---------------------------------------------------
Sweet Wolverine Management, LLC and Sweet Wolverine Holdings, LLC
received approval from the U.S. Bankruptcy Court for the District
of Arizona to hire David F. Rogers, CPA as its accountant.

The services to be provided by the firm include the preparation of
tax returns and financial support services.

David Rogers, the firm's accountant who will be providing the
services, charges an hourly fee of $175.  The hourly rate for
members of his staff is $125.

Mr. Rogers disclosed in court filings that he is "disinterested"
within the meaning of Section 101(14) of the Bankruptcy Code.

Mr. Rogers maintains an office at:

     David F. Rogers
     David F. Rogers, CPA, PLLC
     1846 East Innovation Park Drive
     Oro Valley, AZ 85755

                     About Sweet Wolverine

Sweet Wolverine Management LLC and Sweet Wolverine Holdings LLC
sought protection under Chapter 11 of the Bankruptcy Code (Bankr.
D. Ariz. Lead Case No. 19-13670) on Oct. 25, 2019.

At the time of the filing, Sweet Wolverine Management disclosed
assets of between $100,001 to $500,000 and liabilities of the same
range.  Meanwhile, Sweet Wolverine Holdings disclosed assets of
between $500,001 and $1 million and liabilities of the same range.

The Debtors tapped John C. Smith, Esq., at Smith and Smith PLLC.

No official committee of unsecured creditors has been appointed in
the Debtors' cases.


TAPSTONE ENERGY: Moody's Affirms Ca CFR, Outlook Negative
---------------------------------------------------------
Moody's Investors Service downgraded Tapstone Energy, LLC's
Probability of Default Rating to D-PD. Concurrently, Moody's
affirmed Tapstone's Corporate Family Rating (CFR) at Ca and senior
unsecured notes rating at C. The outlook remains negative.

Downgrades:

Issuer: Tapstone Energy, LLC

Probability of Default Rating, Downgraded to D-PD from Ca-PD

Outlook Actions:

Issuer: Tapstone Energy, LLC

Outlook, Remains Negative

Affirmations:

Issuer: Tapstone Energy, LLC

Corporate Family Rating, Affirmed Ca

Senior Unsecured Notes, Affirmed C (LGD5)

RATINGS RATIONALE

The downgrade of the PDR to D-PD follows Tapstone's skipped
interest payments in December for its senior notes and secured
revolver, as well as the expiration of the original grace periods,
which Moody's deems a default. Prior to the expiration of the
original grace periods, Tapstone entered into a noteholder waiver
agreement whereby the grace period was extended until the end of
January. It also amended its forbearance agreement with revolver
lenders to permit delayed bank interest payments until the end of
January.

Tapstone's Ca CFR, C unsecured notes rating and negative outlook
continue to reflect the company's unsustainable debt load that will
likely be restructured, resulting in significant losses to
bondholders and Moody's view on recovery.

Tapstone's CFR could be downgraded if Moody's expects weaker
recovery prospects. For an upgrade, Tapstone would need to
establish a tenable capital structure with significantly less debt
and improved liquidity.

The principal methodology used in these ratings was Independent
Exploration and Production Industry published in May 2017.

Tapstone, headquartered in Oklahoma City, Oklahoma, is a
privately-held independent exploration and production company
focused in the Anadarko Basin. It is majority-owned by affiliates
of GSO Capital Partners. Tapstone's private equity ownership is a
key governance consideration.


TATUNG COMPANY: Fourth Interim Cash Collateral Order Entered
------------------------------------------------------------
Judge Neil W. Bason of the U.S. Bankruptcy Court for the Central
District of California entered a fourth interim order authorizing
Tatung Company of America, Inc.'s surther use of cash collateral in
accordance with the New Budget which extends through Feb. 29, 2020
and upon the terms and conditions set forth in the Tentative
Decision.

East West Bank is granted a replacement lien on certain of the
Debtor's post-petition assets as provided for in the Motion and as
modified by the Tentative Ruling.  

                 About Tatung Company of America
        
Tatung Company of America, Inc., distributes technology products
for computers and electronics original equipment manufacturers. The
Company manufactures personal computer monitors, home appliances,
point-of-sale equipment, air conditioners, coolers, and purifiers.

Tatung Company of America sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. C.D. Cal. Case No. 19-21521) on Sept. 30,
2019.  In the petition signed by CRO Jason Chen, the Debtor was
estimated to have assets ranging between $10 million to $50 million
and liabilities of the same range. Judge Neil W. Bason is assigned
to the case.  LEVENE, NEALE, BENDER, YOO & BRILL L.L.P serves as
the Debtor's counsel.



TEGNA INC: Moody's Rates $1B Unsec. Notes Due March 2028 'Ba3'
--------------------------------------------------------------
Moody's Investors Service assigned a Ba3 rating to TEGNA Inc.'s $1
billion senior unsecured notes due March 2028. The proceeds of
these notes will be used to fully redeem TEGNA's 5.125% senior
unsecured notes due July 2020 and 6.375% senior unsecured notes due
October 2023. TEGNA's Ba3 corporate family rating and Ba2-PD
probability of default rating, along with the Ba3 rating on the
existing senior unsecured credit facilities and senior unsecured
notes, are unaffected by the transaction. The outlook is unchanged
at stable.

Moody's expects the transaction to be marginally credit positive.
TEGNA will benefit from a longer maturity profile and some
reduction in interest expense, which will moderately improve the
company's cash flows.

Assignments:

Issuer: TEGNA Inc.

Senior Unsecured Regular Bond/Debenture, Assigned Ba3 (LGD4)

RATINGS RATIONALE

TEGNA's Ba3 CFR reflects the strength of the company's operations,
its material scale in the local broadcast sector, and its growth
prospects given the strong market areas it operates in. With 2019
revenue of about $2.5 billion pro forma for the Dispatch and
Nexstar/Tribune Media Company transactions, national reach and a
diverse affiliate mix, the company is well positioned to capture
advertising spend in its markets, allowing it to partially weather
the overall decline in TV advertising budgets. In addition, about
45% of TEGNA's total revenue is derived from non-advertising
related and high-margin retransmission fees. The Ba3 CFR also
reflects the elevated leverage of the company which Moody's expects
to remain above 4.5x through 2020 and is constrained by the
company's exposure to core TV advertising which is cyclical by
nature and under structural pressures as well as to political
advertising which is seasonal and prone to unpredictable swings.

The company's financial policy is one that allows for leverage to
temporarily increase to fund M&A activity. Given the current
consolidation trends in the broadcast market, Moody's believes
TEGNA is likely to engage in more strategic acquisitions. This
said, given the current increase in leverage, material M&A is
unlikely in the next twelve months. The company has publicly
committed to use substantially all free cash flow to reduce debt
and reduce reported leverage to approximately 4x by the end of
2020. Share repurchases will remain suspended throughout that same
period. Overall social risk for TEGNA is moderate in line with the
wider broadcast sector. The key risk for broadcasters lies in
evolving demographic and societal trends and potential changes in
consumer preferences in particular in the way people choose to
consume media.

The stable outlook reflects Moody's expectation that pro forma for
the company's acquisitions, TEGNA's leverage will decline to around
4.5x (Moody's adjusted Debt / 2 year average EBITDA) by the end of
2020.

Ratings could be upgraded should the company return to operating at
a leverage well below 4.0x (Debt/2 year average EBITDA, Moody's
Adjusted) on a sustained basis.

Ratings could be downgraded should the company's leverage not
return to levels below 5.0x (Debt/2 year average EBITDA, Moody's
Adjusted) in the next 12 months.

TEGNA Inc. is a leading U.S. broadcaster with operations consisting
of 62 stations in 51 markets (including the Nexstar and Dispatch
stations) reaching about 32% (with UHF discount) of US television
households. The company, headquartered in McLean, VA, is publicly
traded and reported net revenue of $2.2 billion and EBITDA
(management's adjusted) of approximately $750 million in the twelve
months ending on 30 September 2019.

The principal methodology used in these ratings was Media Industry
published in June 2017.


TOUGH MUDDER: Creditors Place Race Organizer in Chapter 11
----------------------------------------------------------
Three creditors are seeking to place Tough Mudder Inc. into
bankruptcy.  Valley Builders LLC, Trademarc Associates Inc. and
David Watkins Homes Inc., all of which provide general contractor
or building services, filed an involuntary Chapter 11 bankruptcy
petition in U.S. Bankruptcy Court in Wilmington, Delaware, (Bankr.
D. Del. Case No. 20-10036) against the obstacle race operator over
$855,000 in unpaid debt.

Allison McNeely and Steven Church, writing for Bloomberg News,
report that signs of distress have been hovering around the
Brooklyn-based firm, with Chief Executive Officer Kyle McLaughlin
departing the company in December, according to his LinkedIn
profile. The Company's website says ticket sales have been
suspended.

The firm and its creditors didn't immediately respond to requests
for comment.

Bloomberg reports that Tough Mudder -- https://toughmudder.com/ --
was founded in 2009 by Guy Livingstone and William Dean, according
to a pending breach of contract lawsuit filed by Livingstone. Since
Livingstone left active involvement with the company in 2013, Tough
Mudder has lost money every year except for 2015, according to the
suit.




TOWN SPORTS: Kennedy Lewis et al. Have 14.9% Equity Stake
---------------------------------------------------------
In a Schedule 13D filed with the Securities and Exchange
Commission, the following entities and individuals reported
beneficial ownership of 4,200,000 shares of common stock of Town
Sports International Holdings, Inc., which represents 14.9% as of
Dec. 27, 2019:

   -- Kennedy Lewis Management LP
   -- KLM GP LLC
   -- Kennedy Lewis Investment Management LLC
   -- Darren Richman
   -- David Chene

The percentage is based on 28,002,197 shares of Common Stock of
Town Sports International outstanding as of Oct. 31, 2019, as
reported in the Issuer's Form 10-Q filed with the SEC on Nov. 5,
2019.

On Dec. 13, 2019, Kennedy Lewis Capital Partners Master Fund LP, a
private investment fund for which the Adviser acts as investment
manager (the "Signing Fund"), entered into a Stock Purchase
Agreement with HG Vora Special Opportunities Master Fund, Ltd. (the
"Seller") pursuant to which the Signing Fund agreed to purchase
4,200,000 shares of Common Stock from the Seller for a purchase
price of $1.50 per share, subject to certain terms and conditions
set forth in the Stock Purchase Agreement.  Following the signing
of the Stock Purchase Agreement, the Signing Fund assigned its
obligations under the Stock Purchase Agreement to the Fund, and on
Dec. 27, 2019, the Fund became irrevocably committed to the
purchase of the 4,200,000 shares of Common Stock from the Seller
and such purchase transaction was consummated.

A full-text copy of the regulatory filing is available for free at
the SEC's website at:

                       https://is.gd/Rm6yjO

                        About Town Sports

Headquartered in Elmsford, New York, Town Sports International
Holdings, Inc. -- https://www.townsportsinternational.com -- is a
diversified holding company with subsidiaries engaged in a number
of business and investment activities.  The Company's largest
operating subsidiary has been involved in the fitness industry
since 1973 and has grown to become owner and operator of fitness
clubs in the Northeast region of the United States.

As of Sept. 30, 2019, Town Sports had $814.42 million in total
assets, $900.16 million in total liabilities, and a total
stockholders' deficit of $85.75 million in total stockholders'
deficit.

                            *   *   *

As reported by the TCR on Nov. 21, 2019, S&P Global Ratings lowered
its issuer credit rating on Town Sports International Holdings Inc.
to 'CCC' from 'B-'.  S&P lowered the rating to 'CCC' because Town
Sports' term loan matures in November 2020 and it believes there is
an increased risk of a default over the next 12 months.


VECTOR GROUP: Egan-Jones Lowers Senior Unsecured Ratings to CCC+
----------------------------------------------------------------
Egan-Jones Ratings Company, on December 27, 2019, downgraded the
foreign currency and local currency senior unsecured ratings on
debt issued by Vector Group Limited to CCC+ from B-. EJR also
downgraded the rating on commercial paper issued by the Company to
C from B.

Vector Group Limited is an American diversified holding company
with two major businesses: Liggett Group LLC and New Valley LLC,
including Douglas Elliman. Bennett S. LeBow founded Vector Group in
1986. Since then, he has served as Chairman.


VERDICORP INC: Exclusivity Period Extended Until June 9
-------------------------------------------------------
Judge Karen Specie of the U.S. Bankruptcy Court for the Northern
District of Florida extended Verdicorp, Inc.'s exclusivity period
to file a Chapter 11 plan to April 9 and the period to solicit
acceptances for the plan to June 9.

Verdicorp said there are unresolved contingencies that relate to
certain intellectual property which the company is seeking to
resolve via ongoing negotiations. In addition, the company has been
working very diligently to seek resolution of all issues with
Danfoss Turbocor. While no final resolution has been reached,
progress has been made and indicates a resolution may be
forthcoming in the near future. At the same time, several new
parties have emerged interested in acquiring and distributing
Verdicorp's ORC energy.

                       About Verdicorp Inc.

Verdicorp Inc. -- http://www.verdicorp.com/-- is an innovation
company formed in 2009.  Its areas of interest include heating,
ventilation and air-conditioning (HVAC), energy generation,
recovery and storage systems, and water desalination, treatment and
pumping.

Verdicorp sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. N.D. Fla. Case No. 19-40427) on Aug. 14, 2019.  At the time
of the filing, the Debtor had estimated assets of between $500,000
and $1 million and liabilities of between $10 million and $50
million.  
  
The case has been assigned to Judge Karen K. Specie.  The Debtor is
represented by Michael H. Moody Law Firm PLLC.

The U.S. Trustee, until further notice, will not appoint an
official committee of unsecured creditors in the Chapter 11 case of
Verdicorp, Inc., according to court dockets.



WALKINSTOWN INC: Exclusivity Period Extended to April 24
--------------------------------------------------------
Judge Robert Drain of the U.S. Bankruptcy Court for the Southern
District of New York extended to April 24 the exclusive period for
Walkinstown, Inc. to file a Chapter 11 plan and disclosure
statement, with a corresponding extension of 45 days of the time to
confirm the plan.

The reorganization of Walkinstown's Chapter 11 case critically
involves Claim No. 11 filed by Michael Bowe, Esq., in the amount of
$496,482. Excluding only the claim of Michael Doyle, the company's
principal, Claim No. 11 exceeds by nearly 700% on all other debts.
Walkinstown has filed a motion to either expunge or reduce the
claim, which is scheduled to be heard on Jan. 15.

Additionally, if Claim No. 11 is valid, the sale of an asset in Mr.
Doyle's Chapter 11 case will fund a bankruptcy plan in his case and
Walkinstown's bankruptcy plan.

                     About Walkinstown Inc.

Walkinstown, Inc., filed a Chapter 11 bankruptcy petition (Bankr.
S.D.N.Y. Case No. 19-23232) on June 28, 2019, disclosing under $1
million in both assets and liabilities. The petition was signed by
Michael T. Doyle, president. The Debtor is represented by Rosemarie
E. Matera, Esq., at Kurtzman Matera, P.C.


WOODCREST ACE: Permitted to Use Cash Collateral Until Feb. 25
-------------------------------------------------------------
Judge Mark Houle of the U.S. Bankruptcy Court for the Central
District of California authorized Woodcrest Ace Hardware, Inc. and
its affiliated debtors to use cash collateral through Feb. 25,
2020.

The Affiliated Debtors are also authorized to use cash collateral
to pay National Cooperative Bank ("NCB") monthly adequate
protection payments in the total aggregate amount of $5,748 and pay
all quarterly fees due to the U.S. Trustee's Office.  

NCB, Zions Bancorporation, N.A. d/b/a California Bank & Trust, and
all other parties asserting a lien against the cash collateral used
by the Affiliated Debtors are granted a replacement lien, to the
same extent, validity, and priority existing on the date of the
Affiliated Debtors' bankruptcy petition date, against all
post-petition property of the Affiliated Debtors to the extent that
the Affiliated Debtors' cash collateral use results in a diminution
of the value of such party's lien on the petition date.

The hearing on the Affiliated Debtors' further use of cash
collateral is continued to Feb. 25, 2020 at 2:00 p.m. Any
opposition to the continued use of cash collateral must be filed on
or before Feb. 11.

                  About Woodcrest Ace Hardware

Based in Riverside, California, Woodcrest Ace Hardware Inc. filed a
voluntary petition under Chapter 11 of the Bankruptcy Code (Bankr.
C.D. Cal. Case No. 19-13127) on April 12, 2019. In the petition
signed by Paul Douglas Shanabarger, president, the Debtor was
estimated to have $1 million in both assets and liabilities.
Rosenstein & Associates, led by Robert B. Rosenstein, is the
Debtor's counsel.



WOODLAWN COMMUNITY: May Continue Cash Collateral Use Until Jan. 22
------------------------------------------------------------------
Judge Carol A. Doyle of the U.S. Bankruptcy Court for the Northern
District of Illinois has authorized Woodlawn Community Development
Corp. and the trustee, Gina B. Krol, to use cash collateral of the
Internal Revenue Service on an interim basis, under the same terms
and conditions as set forth in the previous order.

A continued hearing on the interim use of cash collateral is
scheduled to take place on Jan. 22, 2020 at 10:30 a.m.

The Debtor and the Trustee are authorized to use the funds in the
DIP Account as well as the payroll account to pay actual, ordinary
course expenses of its business through Jan. 22, pursuant to the
budget.

                 About Woodlawn Community Development

Founded in 1972, Woodlawn Community Development Corp. --
https://www.wcdcchicago.com/ -- manages and develops affordable
housing for families in the Greater Metro Chicago area.

Woodlawn Community Development Corp., based in Chicago, Illinois,
filed a Chapter 11 petition (Bankr. N.D. Ill. Case No. 18-29862) on
Oct. 24, 2018.  In the petition signed by Leon Finney, Jr.,
president and CEO, the Debtor was estimated to have $50 million to
$100 million in both assets and liabilities.  The Hon. Carol A.
Doyle oversees the case.  David R. Herzog, Esq., at Herzog &
Schwartz, P.C., serves as bankruptcy counsel.


WPX ENERGY: Fitch Gives BB Rating to New Unsec. Notes, On Watch Pos
-------------------------------------------------------------------
Fitch Ratings assigned a 'BB'/'RR4' rating on WPX Energy Inc.'s new
senior unsecured notes and has placed the notes on Rating Watch
Positive. The proceeds from the new notes, up to $900 million due
in 2028 and 2030, will be used to fund a portion of the cash
consideration for the acquisition of Felix Energy Holdings II, LLC,
and to repay any outstanding Felix debt.

The Rating Watch Positive considers WPX's announcement that it was
acquiring Delaware Basin assets in a deal valued at approximately
$2.5 billion to be funded with new senior unsecured notes, equity
to the seller and cash from the balance sheet. The transaction,
which adds approximately 58,500 net acres, daily production of 53
mboe/d and 578 mmboe of proved reserves, at YE 2018, largely in
Winkler and Ward counties. In total, WPX will have approximately
184,000 Permian acres, total production of 226.4 mboe/d and almost
5,000 Delaware drilling locations. The assets are immediately
accretive to WPX's FCF profile.

Fitch anticipates resolving the Positive Watch and upgrading WPX's
Long-Term Issuer Default Rating (IDR) and all unsecured debt
issuances upon closing of the transaction, which is expected to
occur in 2Q 2020 after a shareholder vote. Fitch believes WPX's
pro-forma financial and operational profile is in line with the
agency's investment grade thresholds.

WPX's ratings are supported by the company's measured capital
program and hedge book, which provides double-digit production
growth, substantial forecast positive FCF, and strong leverage
metrics. The ratings also consider WPX's manageable maturity
profile, ample liquidity, and operational and financial flexibility
provided by its midstream agreements. Offsetting factors include
increasing shareholder friendly activity and future operational
risks associated with any potential M&A.

KEY RATING DRIVERS

Acquisition Deepens Permian Footprint: WPX's acquisition adds
substantial inventory in the over pressured, oil-weighted core of
Winkler and Ward counties (53.0 mboe/d of production [70% oil] and
58,500 net acres). The transaction accelerates WPX's Permian
development program, which Fitch expects to exceed 175 mboe/d for
2020, and expands longer-term unit cost potential given the added
oil-weighted inventory. Fitch believes the transaction supports
additional operational efficiencies and financial flexibility as
the assets are integrated into WPX's development program.

Conservatively Financed: Fitch believes the $2.5 billion
transaction is conservatively funded given the large equity
component (approximately $1.6 billion or 65% of the total value).
The deal is structured to be leverage neutral, with no acquired
debt. Fitch believes the Felix transaction establishes a track
record for future M&A (location, asset profile, and funding mix) if
WPX elects to add further oil-weighted, Permian inventory.

Positive FCF, Strong Credit Metrics: WPX's conservative operational
strategy - capital program developed to meet net leverage target of
1.0x-1.5x and set at $50/bbl WTI - has enabled the company to
optimize financial flexibility. Under base case assumptions, Fitch
is forecasting greater than $500 million of FCF in 2020 and robust
credit metrics. Fitch forecasts debt/EBITDA will be 1.5x in 2019
and 1.3x in 2020. Debt/flowing barrel metrics are also projected to
remain strong at $13,653/bbl in 2019 and trending towards
$10,000/bbl in 2021.

Revolver Rating Affirmed: Fitch affirmed the revolver rating at
'BBB-.' The two-notch uplift from WPX's IDR reflects the
over-collateralization of the facility. Future upgrades to WPX's
IDR could result in a convergence of the IDR and revolver ratings.

DERIVATION SUMMARY

WPX is a liquids-oriented independent E&P company with pro-forma
net production of 226.4 thousand barrels of oil equivalent per day
(mboe/d), inclusive of the acquired assets. Production size is
greater than Murphy Oil Corporation (BB+/Stable; 203.1mboe/d [67%
liquids]) but smaller than Permian focused 'BBB' category peers.
WPX's unhedged cash netback of $19.5/boe (53% margin) is lower than
Murphy at $26.1/boe (66% margin). However, Fitch expects WPX's
unit-economics to improve as the percentage of production coming
from the Delaware Basin increases.

WPX's leverage profile, specifically total debt/EBITDA, which was
1.8x at YE 2018 and is forecasted to be 1.5x at YE 2019 is in line
with the 'BB' and 'BBB' category peer groups. Murphy had
debt/EBITDA ratios of 1.9x. From a debt/flowing barrel perspective,
at $12,855/bbl, WPX is stronger than Murphy and investment grade
peers Diamondback Energy, Inc (BBB/Stable) and Concho Resources,
Inc. (BBB/Stable) at Sept. 30, 2019.

KEY ASSUMPTIONS

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

  - WTI oil prices of $57.50/bbl in 2019 and 2020, and $55/bbl
thereafter;

  - Henry Hub natural gas prices of $2.50/mcf through the
forecast;

  - NGLs priced to 25% of WTI;

  - Robust double digit production growth, annually;

  - 2022 maturity paid with FCF;

  - Increasing shareholder friendly activity.

RATING SENSITIVITIES

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

For an upgrade:

  - Successful execution of the transaction;

For an upgrade to 'BB+' excluding the announced acquisition:

  - Continued Bakken execution and demonstrated ability to de-risk
its non-Stateline Delaware development plans that lead to favorable
unit economics and increased size, scale and diversification;

  - Mid-cycle Debt/EBITDA maintained below 2.0x (FFO Adjusted
Leverage below 2.0x) on a sustained basis;

  - Debt/flowing barrel sustained below $20,000/bbl.

Unsuccessful execution of the transaction would result in a removal
of the Ratings Watch Positive. Leverage sensitivities are
consistent with higher-rated peers and are unlikely to change upon
future rating upgrades.

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

  - Mid-cycle Debt/EBITDA above 3.0x (FFO Adjusted Leverage below
3.0x) on a sustained basis;

  - Debt/flowing barrel above $25,000/bbl;

  - Production trending below 120 mboe/d;

  - Change in capital allocation strategy resulting in
neutral-to-negative FCF profile.

LIQUIDITY AND DEBT STRUCTURE

Undrawn $1.5 billion Revolver: As of Sept. 30, 2019, WPX had an
undrawn $1.5 billion revolving credit facility due April 17, 2023
and cash on hand of $13 million. Successful execution of the
transaction will like result in an increased borrowing base, which
was $2.1 billion as of Sept. 30, 2019. The revolver is subject to a
springing maturity on Oct. 15, 2021 if available liquidity minus
outstanding 2022 notes ($73 million outstanding) is less than $500
million.

Manageable Maturity Profile: WPX's maturity profile should permit
optimal financial flexibility for a pro-longed $55/bbl oil price
environment. WPX has $73 million due in 2022 and $400 million in
2023. The new notes are due in 2028 and 2030.

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.


WPX ENERGY: Moody's Assigns B1 Rating to New $900MM Unsec. Notes
----------------------------------------------------------------
Moody's Investors Service assigned B1 ratings to WPX Energy, Inc.'s
proposed two tranches of senior unsecured notes totaling $900
million. The net proceeds from the notes issuance will be used to
finance a portion of the cash consideration for the acquisition of
Felix Energy Holdings II, LLC. WPX's existing ratings including the
Ba3 Corporate Family Rating and B1 ratings on existing senior
unsecured notes are unchanged. The existing ratings and ratings on
the proposed notes are on review for upgrade.

Moody's expects to conclude the ratings review following the
closing of the Felix Energy acquisition, which is anticipated to
occur in the second quarter 2020. The CFR and ratings on the
existing notes could be upgraded by one notch at the conclusion of
the review, based on the announced terms of the acquisition,
resulting in a Ba2 CFR and Ba3 ratings on the senior unsecured
notes. The transaction is subject to regulatory approval and the
approval of WPX shareholders.

"The Felix Energy acquisition is credit positive for WPX Energy,
increasing its scale and cash flows," stated James Wilkins, Moody's
Vice President. "The company's leverage will not change materially
as a result of the significant equity funding of the acquisition
purchase price."

The following summarizes the ratings activity:

LGD Adjustment:

Issuer: WPX Energy, Inc.

Senior Unsecured Notes, Adjusted to (LGD4) from (LGD5)

Assignments:

Issuer: WPX Energy, Inc.

Senior Unsecured Notes Assigned B1 (LGD4); Placed on Review for
Upgrade

RATINGS RATIONALE

The proposed senior unsecured notes are rated B1, one notch below
the Ba3 CFR, reflecting their lower priority of claims on the
company's assets relative to any potential borrowings under the
secured revolving credit facility and pari passu ranking with WPX's
existing notes.

The ratings review for upgrade reflects Moody's expectation that
the Felix Energy acquisition will positively affect WPX's asset
profile, increase its scale, boost its profit margins and
contribute positive free cash flow in 2020. The purchase will
expand the company's scale and position in the Delaware, increasing
its current production by 53 Mboe/d or 23 percent, inventory
locations by around 1,500 and proved reserves by 578 MMboe
(year-end 2018 value). On a pro forma basis, WPX will have 184,000
net acres and 240.5 Mboe/d of production in the Permian Basin. Only
15 percent of Felix Energy's proved reserves are proved developed.
The acquired reserves' high liquids content (90%) and high oil
content of production (~70%) furthers WPX's goal of liquids-based
production and improving margins. Moody's expects the company will
realize operational and commercial synergies and have limited
integration risks, given the proximity of the new assets to WPX's
existing operations and little increase in general and
administrative expenses associated with the acquired assets. WPX
believes that current midstream contracts will provide for the
gathering, processing and long-haul take away capacity required for
the new assets.

The Felix Energy acquisition valuation is reasonable, with a
purchase price multiple of 3.5x 2020 expected EBITDAX. The company
believes that PDP value at a $50 / bbl is 72% of the purchase price
and the implied price per acre is around $12,000 per acre, which is
well below average acreage acquisition deal values from 2016-2019.

Moody's expects WPX to generate positive free cash flow in 2020 at
$50 / bbl WTI oil and retained cash flow to debt in excess of 50%.
The additional cash flow generated by the Felix Energy assets will
more than cover the common dividend that WPX plans to initiate in
the third quarter 2019 (~$15 million per quarter). The company may
apply free cash flow towards debt reduction or continued share
repurchases.

WPX's SGL-1 Speculative Grade Liquidity Rating reflects very good
liquidity through 2020, supported by Moody's expectation the
company will generate positive free cash flow and availability
under the undrawn $1.5 billion secured revolving credit facility
due April 2023 ($37 million of letters of credit outstanding as of
September 30, 2019). WPX will be able to fund planned capital
spending in 2020 with cash flow from operations assuming a $55/bbl
WTI crude oil price. The revolver borrowing base is $2.1 billion,
but the commitments are set at $1.5 billion, which the company may
seek to increase in conjunction with the Felix Energy acquisition.
The revolver has two financial covenants: a maximum consolidated
net leverage (Net Debt / EBITDAX) covenant of 4.25x and a minimum
current ratio covenant of 1.0x. Moody's expects the company to have
ample room for compliance with these covenants through 2020.

The principal methodology used in these ratings was Independent
Exploration and Production Industry published in May 2017.


[*] Alison Franklin Joins Greenberg Traurig's Bankruptcy Practice
-----------------------------------------------------------------
Greenberg Traurig, LLP is expanding its global Restructuring &
Bankruptcy Practice with the addition of Alison Elko Franklin as a
shareholder in the firm's Atlanta office.  Ms. Franklin, who joins
from Dentons, will advise clients on a broad range of restructuring
matters, including corporate reorganizations, municipal reform,
creditors’ rights litigation, and distressed acquisitions.

"Alison has a sterling reputation and is highly regarded in the
Atlanta bankruptcy community.  She will be a valuable addition to
our team," said Co-Chair of the firm's global Restructuring &
Bankruptcy Practice and Co-Chair of its Financial Institutions
Practice David Kurzweil.  "With wide-ranging industry experience
and a diverse practice, Alison's breadth of knowledge will allow us
to further our goal of providing the best service for our clients,
both in Atlanta and firmwide."

Ms. Franklin has represented debtors, creditors, committees,
trustees, and purchasers in a variety of commercial bankruptcy
proceedings and cross-border restructuring matters.  She represents
companies in Chapter 11 reorganizations, Chapter 9 municipal debt
adjustments, and Chapter 15 cross-border insolvency proceedings.
She also counsels parties on insolvency-related issues and advises
creditors, examiners, and receivers in fraud investigations and
commercial litigation in federal and state courts.

"We are excited to welcome Alison to Greenberg Traurig, and to the
Atlanta office," said Managing Shareholder of the Atlanta office
Theodore I. Blum.  "Not only is she a talented lawyer with deep
experience in bankruptcy litigation, her service to the profession
and tireless dedication to helping underserved populations is
reflected in her significant pro bono work commitment to the
community."

Recognized for her legal work, active leadership in professional
organizations, and impactful community service, Ms. Franklin has
been named "40 Under 40" by the Atlanta Business Chronicle, "On the
Rise" by the Daily Report, "Rising Star" in Restructuring and
Insolvency by the IFLR1000, "Legal Elite" in Bankruptcy Law by
Georgia Trend, and to the "Super Lawyer Rising Star" list for
Bankruptcy and Creditor/Debtor Rights by Atlanta Magazine.  She is
the 2019 recipient of the David W. Pollard Achievement Award
presented by the Bankruptcy Section of the Atlanta Bar Association
to a member of the Atlanta bar who best exemplifies the highest
standards of professionalism and ethics in the bankruptcy
practice.

Ms. Franklin is regularly involved in a variety of pro bono
projects as co-founder and volunteer for the Reaffirmation Project,
co-founder and volunteer advisor for the Low Income Creditor
Assistance Project, and chair of the Advisory Committee to the
Modest Means Program sponsored by the Atlanta Bar Association's
Lawyer Referral and Information Service.  She is the vice chair of
the Atlanta Chapter of the Turnaround Management Association (TMA)
and has chaired the Next Generation Program of the TMA Atlanta
Chapter, the Bankruptcy Section of the Atlanta Bar Association, and
the Georgia Network of the International Women's Insolvency and
Restructuring Confederation (IWIRC).  She has also served on the
global boards of directors for the TMA Next Generation Program and
IWIRC, as well as the Emory Law Alumni Board.

"Greenberg Traurig has an impressive team of strong restructuring
lawyers leading its internationally recognized practice," Ms.
Franklin said.  "I was drawn to the firm because of its reputation
for innovation and client service, as well as its respected pro
bono program.  I am eager to work with this collaborative group of
talented attorneys and continue to grow my practice."

Ms. Franklin received her J.D. from the Emory University School of
Law, where she was recognized with the Distinguished Service Award
and served as the Business Manager of the Emory Bankruptcy
Developments Journal.  She received her B.S., magna cum laude with
honors, from the South Carolina Honors College at the University of
South Carolina.  Ms. Franklin served as a law clerk for the Hon. C.
Ray Mullins, United States Bankruptcy Court for the Northern
District of Georgia.

                  About Greenberg Traurig's
              Restructuring & Bankruptcy Practice

Greenberg Traurig's internationally recognized Restructuring &
Bankruptcy Practice provides clients with deep insight and
knowledge acquired over decades of advisory and litigation
experience.  The team has a broad and diverse range of experience
developing creative and effective solutions to the highly complex
issues that arise in connection with in- and out-of-court
reorganizations, restructurings, workouts, liquidations, and
distressed acquisitions and sales.  Using a multidisciplinary
approach, the firm's vast resources and invaluable business
network, the team helps companies navigate challenging times and
address the full range of issues that can arise in the course of
their own restructurings or dealings with other companies in
distress

                    About Greenberg Traurig

Greenberg Traurig, LLP (GT) -- http://www.gtlaw.com/-- has
approximately 2,100 attorneys in 41 locations in the United States,
Latin America, Europe, Asia, and the Middle East.  GT has been
recognized for its philanthropic giving, diversity, and innovation,
and is consistently among the largest firms in the U.S. on the
Law360 400 and among the Top 20 on the Am Law Global 100.



[*] Carl Marks Advisors Promotes Scott Webb to Partner
------------------------------------------------------
Carl Marks Advisors, an investment bank providing financial and
operational advisory services to middle market companies, announced
the promotion of Scott Webb to Partner.

Since joining the firm in 2007, Webb has held positions of
increasing responsibility and for the last two years has led the
firm's investment banking restructuring vertical alongside Partner
Evan Tomaskovic.  As Partner, Mr. Tomaskovic will continue to
specialize in advising companies and creditor groups throughout the
capital structure on financial restructurings, distressed mergers
and acquisitions, capital raises and other special situations.  He
brings passion, creativity, deep expertise, and smart, innovative
solutions to his engagements, providing clients a wealth of
experience navigating complex situations where consensus building
is required for conflict resolution.

"We are very excited to recognize Scott's achievements during his
time at Carl Marks Advisors," commented Duff Meyercord, Managing
Partner at Carl Marks Advisors.  "His energy and attention to
detail are highly prized by the clients he serves.  He has played
an important role in a number of the firm's notable transactions in
recent years and we look forward to many more years of his
continued contributions to the growth of the firm."

                     About Carl Marks Advisors

Carl Marks Advisory Group LLC (Carl Marks Advisors) is a New
York-based investment bank that provides financial and operational
advisory services.  Its integrated client service teams unite
industry, operations, and transaction expertise to create effective
solutions in complex situations.

Securities are offered through Carl Marks Securities LLC, member
FINRA and SIPC.  Additional information about Carl Marks Advisory
Group LLC and Carl Marks Securities LLC is available at
http://www.carlmarksadvisors.com/and
http://www.carlmarkssecurities.com/


[*] Christopher O. Bell Joins Schulte Roth & Zabel
--------------------------------------------------
Schulte Roth & Zabel (SRZ) on Jan. 6, 2020, announced the addition
of Christopher O. Bell as a partner in the Finance Group, resident
in the New York office.  Mr. Bell comes to SRZ from Proskauer Rose,
where he was a partner in the Corporate Department.  He was also
previously a partner at Simpson Thacher & Bartlett.

Mr. Bell focuses his practice on representing private equity funds
and their portfolio companies on leveraged finance transactions,
with an emphasis on debt commitments and credit facilities for
leveraged acquisitions, including acquisition financings and
asset-based lending facilities.  He also represents sponsor
portfolio companies on their working capital facilities and their
ongoing compliance under those facilities.  Mr. Bell has worked
extensively on various recapitalizations, refinancings and related
transactions, including incremental facilities.

"We are delighted to have Chris join our team.  His deep expertise
advising private equity funds and their portfolio companies on
leveraged finance transactions bolsters our M&A support
capabilities," said Michael M. Mezzacappa, co-head of SRZ's Finance
Group.  "Chris is an excellent addition to the group.  He brings
extensive experience with respect to complex acquisition financing
transactions, which will help to grow our leveraged finance
practice," added Eliot L. Relles, co-head of the Finance Group.

"Chris is a first-rate lawyer well known in the leveraged finance
space.  We are very excited to have him join us," commented Alan S.
Waldenberg, chair of SRZ's Executive Committee.

SRZ regularly advises on headline-making deals for many of the
world's most active and influential private equity firms.  SRZ's
transactions have been consistently recognized as "Deals of the
Year" by industry rankings.  Most recently, SRZ's representation of
Veritas Capital and its affiliates' $5.7-billion acquisition of
athenahealth Inc. won "Private Equity Deal of the Year" at The Deal
Awards.

SRZ's Finance Group is a nationally recognized leader in complex,
leveraged financing transactions.  The lawyers have significant
experience in both middle-market and large-cap leveraged
transactions, representing both traditional and alternative lenders
as well as private equity clients and their portfolio companies.

"Schulte's corporate practice has an excellent reputation in the
market.  I am delighted to be a part of a team known for its
innovative approach to complex deals," said Mr. Bell, who holds a
J.D. from Fordham University School of Law, an M.A. from New York
University and an A.B. from Harvard University.

                   About Schulte Roth & Zabel

Schulte Roth & Zabel LLP -- http://www.srz.com/-- is a
full-service law firm with offices in New York, Washington, DC and
London.  As one of the leading law firms serving the financial
services industry, the firm regularly advises clients on corporate
and transactional matters and provides counsel on regulatory,
compliance, enforcement and investigative issues.  The firm's
practices include: bank regulatory; bankruptcy & creditors' rights
litigation; blockchain technology & digital assets; broker-dealer
regulatory & enforcement; business reorganization; complex
commercial litigation; cybersecurity; distressed debt & claims
trading; distressed investing; education law; employment & employee
benefits; energy; environmental; finance; financial institutions;
hedge funds; individual client services; insurance; intellectual
property, sourcing & technology; investment management; litigation;
litigation finance; mergers & acquisitions; PIPEs; private equity;
real estate; real estate capital markets & REITs; real estate
litigation; regulated funds; regulatory & compliance; securities &
capital markets; securities enforcement; securities litigation;
securitization; shareholder activism; structured finance &
derivatives; tax; and white collar defense & government
investigations.


[*] MACCO Restructuring Announces New Offices and Firm Additions
----------------------------------------------------------------
Drew McManigle, Founder and Managing Director of Houston-based
MACCO Restructuring Group, LLC (MACCO), announced the opening of
new offices in Wilmington, Delaware and Denver, Colorado together
with several notable additions to the firm.  Mr. McManigle stated,
"I'm excited to lead our expanding firm as we become truly national
in presence, scope, and ability to serve middle-market companies
across a broad array of industries."

Norene Mostkoff has joined MACCO as a Managing Director to expand
their healthcare group, headed by Beth Carpenter.  Ms. Mostkoff has
had a stellar career in healthcare spanning 20 years of leadership
with companies in distress.  She has led healthcare companies out
of financial crisis to profitability amidst the complexities of a
highly regulated environment.  In 2018,
Ms. Mostkoff was named to the top 100 most influential people in
healthcare by the Atlanta Business Chronicle.  She has been awarded
a Better Business Bureau's Integrity Award and recognized by her
peers with the CEO of the year award.  Ms. Carpenter stated,
"Healthcare remains in crisis and we're thrilled to have a
professional of Norene's caliber and experience join us to find
practical solutions for our clients."

Stephen Judge and Patrick Stewart, CTP each join as Managing
Directors to head MACCO's office in Wilmington, DE.  "These two
highly experienced financial and restructuring professionals, each
with broad industry knowledge, close the gap between the centers of
bankruptcy filings of Houston and Wilmington," Mr. McManigle noted.
"Together with MACCO's bench and their proximity to the
Philadelphia, New Jersey and New York Metropolitan areas, Patrick
and Stephen bring responsiveness and depth of know-how to both
debtor and creditor clients alike.  We're delighted they have
joined the MACCO family and have high expectations for our rising
Northeast practice!"

Paul Maniscalco also joins as a Managing Director to establish
MACCO's office in Denver, Colorado.  He has served as a Chief
Financial Officer for public and private companies and brings 22
years of experience in advising in corporate finance from inception
through maturity, capital markets transactions, business
restructuring and chapter 11 bankruptcy.  Mr. McManigle said, "I
knew Paul's financial, accounting, SEC compliance and grasp of
complex E&P acquisition and divestitures would be crucial to
MACCO's energy clients as they continue to face commodity price
instability, State regulatory hurdles and lack of financing
options."

Pablo Bonjour has been promoted to Director from Sr. Financial
Analyst. "Pablo with his significant prior business operations
experience and client centric focus, has in a short time since
joining MACCO, proven himself as an astute professional through
several recent engagements where he sat second chair to me," Mr.
McManigle said.  "He earned this and I'm extremely glad to have him
as a core part of our team."

Eric Moll is a Financial Analyst beginning his career in
restructuring with MACCO in its Houston office.  He attended The
University of Houston, Bauer College of Business with a focus on
Finance.  Mr. McManigle stated, "Eric is exactly the type of young
professional the restructuring industry needs to attract: smart,
educated, tech-savvy and personable with a desire to learn how to
help businesses put out their financial fires.  We're very happy to
have such a vibrant and talented millennial join us!"

Mr. McManigle concluded, "MACCO's ability to attract professional
experts and first-class people belies our commitment both to our
clients and our team as we act as 'first responders' to put out
business fires and protect the stakeholders from getting burned."

Learn more about MACCO at www.maccorestructuringgroup.com
Drew can be reached at: drew@maccorestructuringgroup.com
Norene can be reached at: norene@maccorestructuringgroup.com
Patrick can be reached at: patrick@maccorestructuringgroup.com
Stephen can be reached at: stephen@maccorestructuringgroup.com
Paul can be reached at: paul@maccorestructuringgroup.com
Pablo can be reached at: pablo@maccorestructuringgroup.com
Eric can be reached at: eric@maccorestructuringgroup.com



[*] Matthew Olson Joins Dorsey & Whitney's Restructuring Group
--------------------------------------------------------------
International law firm Dorsey & Whitney LLP on Jan. 6, 2020,
disclosed that Matthew Olson has joined the Firm's Palo Alto office
as an associate in the Finance & Restructuring Practice Group.

Mr. Olson has broad experience representing debtors, creditors, and
fiduciaries in complex insolvency matters, in cases involving both
individuals and businesses.  His practice focuses on helping
companies navigate a bankruptcy reorganization, from the first day
of a case, through confirmation of a plan of reorganization and
resolving disputed claims, and to final resolution.  When a
bankruptcy case is not appropriate, Mr. Olson is able to help with
other out-of-court options to resolve a troubled financial
situation.  He also helps creditors protect their rights in
insolvency matters and helps professional fiduciaries discharge
their duties and recover the maximum amount for the estates they
represent.

Mr. Olson received a J.D. degree with distinction from the
University of the Pacific, McGeorge School of Law, and B.S.,
Business Administration and B.A., Political Science degrees from
the University of the Pacific.  He is the Immediate Past Chair for
the Commercial Law & Bankruptcy Section of the Bar Association of
San Francisco and serves as a Member on the Board of Directors for
the Sacramento Valley Bankruptcy Forum.

"We are ecstatic that Matt has joined the Dorsey Palo Alto office,"
noted Steve O'Neill, Partner and head of Dorsey's Bankruptcy &
Financial Restructuring West Coast Practice Group.  "Matt has a
tremendous amount of experience in the restructuring arena, and is
a great asset to Dorsey, providing our clients with valuable
insight and expertise.  Matt has already shown that he is a leader
of the next generation of restructuring lawyers.  I and the rest of
the Dorsey restructuring team look forward to working with Matt."

"I am honored to join Dorsey and to be a part of a firm known for
its high standards and compelling vision," noted Mr. Olson.  "As a
part of the Palo Alto office's outstanding team, I look forward to
serving Dorsey's exceptional client base across the country and
around the world."

                  About Dorsey & Whitney LLP

Clients have relied on Dorsey since 1912 as a valued business
partner.  With locations across the United States and in Canada,
Europe and the Asia-Pacific region, Dorsey provides an integrated,
proactive approach to its clients' legal and business needs.
Dorsey represents a number of the world's most successful companies
from a wide range of industries, including leaders in banking &
financial institutions, development & infrastructure, energy &
natural resources, food, beverage & agribusiness, healthcare and
technology, as well as major non-profit and government entities.



[*] Otterbourg Promotes Ikhwan Rafeek to Banking & Finance Member
-----------------------------------------------------------------
Otterbourg P.C. on Jan. 6, 2020, disclosed that Ikhwan A. Rafeek
has been promoted to Member of the Firm in the Banking and Finance
Group, effective January 1.  Mr. Rafeek represents institutional
lenders, banks, commercial finance companies, and factors in
connection with the documentation of domestic and international
secured lending arrangements, including asset-based, factoring,
term loan, healthcare, real estate, middle market, leveraged, and
first and second lien loan transactions.  He also frequently
represents secured lenders in workouts and restructurings and in
portfolio acquisitions and dispositions.

Mr. Rafeek was named as a "Rising Star" by Super Lawyers Magazine
in 2019.  Mr. Rafeek is a member of the Secured Finance Network.
He is also a member of the New York State Bar Association.  He
earned his J.D. from St. John’s University School of Law in 2008
and his B.A. from City University of New York – Baruch College in
2005.

                     About Otterbourg P.C.

Otterbourg P.C. offers clients a unique combination of legal
insight and practical solutions and is known for its integrity,
legal expertise, stability and business knowledge.  The firm,
established more than 100 years ago, regularly represents clients
in matters of national and international scope, including banks,
finance companies, hedge funds, private equity firms, real estate
investment firms, corporate clients and high net-worth individuals.
The firm's practice areas include domestic and cross-border
financings, litigation and alternative dispute resolutions, real
estate, restructuring and bankruptcy proceedings, mergers and
acquisitions and other corporate transactions, and trusts and
estates.



[*] Seward & Kissel Announces Partner and Counsel Promotions
------------------------------------------------------------
National law firm Seward & Kissel LLP announced the promotion of
Kevin Neubauer to partner and Brian Maloney to counsel.  The
promotions are effective Jan. 1, 2020.

"We are thrilled to make these well-deserved promotions.  Kevin
brings our clients a tremendous wealth of knowledge in fund
formation and other issues of concern to private funds and pooled
investment vehicles," said Seward & Kissel Managing Partner Jim
Cofer.  "Brian has demonstrated his litigation talents across a
range of subjects and types of engagements, from banking and
shipping disputes to securities investigations.  His versatility is
a great asset to our clients and the Firm."

Mr. Neubauer has extensive experience representing sponsors and
managers of private investment funds, particularly private equity
funds, private credit funds, venture capital funds, and hedge funds
on the formation, structuring, and offering of interests of such
funds.  He also has significant experience structuring domestic and
offshore partnerships and other types of investment vehicles,
including special purpose vehicles, co-investment vehicles,
separately managed accounts, and funds-of-one.  Mr. Neubauer
frequently counsels investment advisers on fund restructurings,
capital raising, and fund regulation and compliance, including
Hart-Scott-Rodino compliance.  He joined the Firm in 2009 and in
2012 went on to serve as in-house counsel in the legal department
of a large private equity firm before returning to Seward & Kissel.
Mr. Neubauer holds a B.A. from Fairfield University and a J.D.
from Boston College Law School.

Mr. Maloney is a commercial litigator with significant experience
across a wide range of sectors, including banking, maritime, and
securities.  He represents clients in matters involving civil and
criminal enforcement inquiries and regulatory investigations,
including those under various provisions of the securities laws and
the FCPA.  He has written and spoken extensively in connection with
his shipping litigation work, which includes, among other matters,
the ongoing coordination of U.S. actions arising out of the
collapse of O.W. Bunker & Trading A/S and its affiliates around the
world on behalf of the secured lender to those entities.  He has
also represented and advised broker-dealers, registered investment
advisers, chief compliance officers, and registered representatives
in FINRA and SEC examinations and investigations.  He is a member
of the ABA Subcommittee on Admiralty Law, the NYC Bar Association,
and the New York County Lawyers’ Association.  He holds an A.B.
from Dartmouth College and a J.D. from Boston College Law School.

                     About Seward & Kissel LLP

Seward & Kissel LLP, founded in 1890, is a leading U.S. law firm
with offices in New York City and Washington, D.C., with particular
expertise in the financial services, investment management,
banking, and shipping industries.  The Firm is well known for its
representation of investment advisers and related investment funds,
broker-dealers, major commercial banks, institutional investors,
and transportation companies (particularly in the shipping area).
Its practices primarily focus on corporate, M&A, securities,
litigation (including white collar), restructuring/bankruptcy, real
estate, regulatory, tax, employment, and ERISA for clients seeking
legal expertise in these areas.


[*] Weil, Gotshal & Manges Elects 16 New Partners
-------------------------------------------------
International law firm Weil, Gotshal & Manges LLP announced that it
has elected 16 new partners, effective January 1, 2020.

"These nine women and seven men, resident across seven of our
offices globally, are among the most talented legal practitioners
of their generation, and I am thrilled to announce their promotions
to partner," said Executive Partner Barry Wolf.  "They represent
our most diverse partner class in our history so far, and highlight
our strength across the Firm's four departments, Corporate,
Litigation, Business Finance & Restructuring, and Tax, Executive
Compensation & Benefits."

The new partners are based in the Firm's Dallas, Frankfurt,
Houston, London, New York, Silicon Valley and Washington, D.C.
offices.

The Firm also elected 115 counsel, effective January 1, 2020.  The
counsel class includes individuals from all of the Firm's four
departments who are based across Weil's offices in the United
States, Europe and Asia.

The new partners are:

   -- Candace Arthur:  Business Finance & Restructuring (New York)
   -- Luna Ngan Barrington:  Complex Commercial Litigation (New
York)
   -- Lewis Blakey:  Private Equity (London)
   -- Kevin Bostel:  Business Finance & Restructuring (New York)
   -- Jennifer Haydel Britz:  Executive Compensation & Benefits
(New York)
   -- Clare Cottle:  Business Finance & Restructuring (London)
   -- Mariel E. Cruz:  Mergers & Acquisitions (New York)
   -- Amanda Fenster:  Mergers & Acquisitions (New York)
   -- Andriana Georgallas:  Business Finance & Restructuring (New
York)
   -- Megan A. Granger:  Antitrust/Competition (Washington, D.C.)
   -- Aron Joy:  Tax (London)
   -- Vynessa Nemunaitis:  Banking & Finance (Dallas)
   -- Bambo Obaro:  Complex Commercial Litigation (Silicon Valley)
   -- Samuel C. Peca:  Private Equity/M&A (Houston)
   -- Marc Schubert:  Private Funds (London)
   -- Ansgar Wimber:  Private Equity (Frankfurt)

                           About Weil

Founded in 1931, Weil, Gotshal & Manges LLP -- http://www.weil.com/
-- has been a preeminent provider of legal services for more than
80 years.  With approximately 1,100 lawyers in offices on three
continents, Weil has been a pioneer in establishing a geographic
footprint that has allowed the Firm to partner with clients
wherever they do business.  The Firm's four departments, Corporate,
Litigation, Business Finance & Restructuring, and Tax, Executive
Compensation & Benefits, and more than two dozen practice groups
are consistently recognized as leaders in their respective fields.



[^] Recent Small-Dollar & Individual Chapter 11 Filings
-------------------------------------------------------
In re Bruce Dwain Copeland
   Bankr. N.D. Tex. Case No. 19-33157
      Chapter 11 Petition filed September 24, 2019

In re Gomez Global LLC
   Bankr. N.D. Tex. Case No. 19-33165
      Chapter 11 Petition filed September 24, 2019
         See https://is.gd/zaDYQ6
         represented by: Joyce Lindauer, Esq.
                         JOYCE W. LINDAUER ATTORNEY, PLLC
                         E-mail: joyce@joycelindauer.com

In re Brianna Michelle Agogho
   Bankr. D.D.C. Case No. 19-00659
      Chapter 11 Petition filed October 3, 2019
         represented by: Vamira Ragland, Esq.

In re Jimmy Carroll Rushing
   Bankr. M.D. Fla. Case No. 19-04000
      Chapter 11 Petition filed October 21, 2019

In re Scottsdale Pet Suite LLC
   Bankr. D. Ariz. Case No. 20-00020
      Chapter 11 Petition filed January 2, 2020
         See https://is.gd/B6tMzT
         represented by: Krystal M. Ahart, Esq.
                         KAHN & AHART, PLLC
                         E-mail: Krystal.Ahart@azbk.biz

In re Anatolio S. Garcia
   Bankr. C.D. Cal. Case No. 20-10008
      Chapter 11 Petition filed January 2, 2020
         represented by: William Brownstein, Esq.

In re KRJ Estate, LLC
   Bankr. E.D. Wash. Case No. 20-00005
      Chapter 11 Petition filed January 2, 2020
         See https://is.gd/ntqKJ6
         Filed Pro Se

In re Southern Village Shack, LLC
   Bankr. M.D.N.C. Case No. 20-80004
      Chapter 11 Petition filed January 3, 2020
         See https://is.gd/dLbpxe
         represented by: John Paul H. Cournoyer, Esq.
                         NORTHERN BLUE, LLP

In re Governors Club Shack, LLC
   Bankr. M.D.N.C. Case No. 20-80005
      Chapter 11 Petition filed January 3, 2020
         See https://is.gd/Y19CaZ
         represented by: John Paul H. Cournoyer, Esq.
                         NORTHERN BLUE, LLP

In re AJEM Hospitality, LLC
   Bankr. M.D.N.C. Case No. 20-80003
      Chapter 11 Petition filed January 3, 2020
         See https://is.gd/v1FyTh
         represented by: John Paul H. Cournoyer, Esq.
                         NORTHERN BLUE, LLP

In re AIM Industries, LLC
   Bankr. M.D. Fla. Case No. 20-00031
      Chapter 11 Petition filed January 3, 2020
         See https://is.gd/8zItgS
         represented by: Buddy D. Ford, Esq.
                         BUDDY D. FORD, P.A
                         E-mail: All@tampaesq.com

In re Affordable Towing & Recovery, Inc.
   Bankr. S.D. Ind. Case No. 20-90002
      Chapter 11 Petition filed January 3, 2020
         See https://is.gd/sdNOCi
         represented by: Michael W. McClain, Esq.
                         MCCLAIN DEWEES, PLLC
                         E-mail: mmcclain@mcclaindewees.com

In re 132 W 165 Improvement Corp.
   Bankr. E.D.N.Y. Case No. 20-70043
      Chapter 11 Petition filed January 3, 2020
         See https://is.gd/wLl3dC
         Filed Pro Se

In re Marketing Guruss, Inc.
   Bankr. D. Nev. Case No. 20-10047
      Chapter 11 Petition filed January 3, 2020
         See https://is.gd/osBv0j
         represented by: Marjorie A. Guymon, Esq.
                         GOLDSMITH & GUYMON
                         E-mail: bankruptcy@goldguylaw.com

In re NSK Group, Inc.
   Bankr. C.D. Cal. Case No. 20-10014
      Chapter 11 Petition filed January 3, 2020
         See https://is.gd/NY83EP
         represented by: Kateryna Bilenka, Esq.
                         BILENKA LAW FIRM
                         E-mail: katya@bilenkalaw.com

In re Ragab Holdings, LLC
   Bankr. D. Colo. Case No. 20-10015
      Chapter 11 Petition filed January 2, 2020
         See https://is.gd/zec0zf
         represented by: T. Edward William, Esq.
                         WILLIAMS, LLP
                         E-mail: edward.williams@wmsintl.com

In re Nacasha Leca Ruffin
   Bankr. N.D. Ga. Case No. 20-60067
      Chapter 11 Petition filed January 2, 2020
         represented by: William A. Rountree, Esq.
                         ROUNTREE LEITMAN & KLEIN, LLC
                         E-mail: wrountree@rlklawfirm.com

In re Gary Francis Harvey, II
   Bankr. S.D. W.Va. Case No. 20-20000
      Chapter 11 Petition filed January 2, 2020
         represented by: John Leaberry, Esq.

In re Eduardo Zavala Garcia and Amalia Perez Garcia
   Bankr. E.D. Cal. Case No. 20-10010
      Chapter 11 Petition filed January 2, 2020
         represented by: Justin Harris, Esq.

In re Jarrell D. Davis, Esq.
   Bankr. D. Nev. Case No. 20-10034
      Chapter 11 Petition filed January 3, 2020  
         represented by: Steven L. Yarmy, Esq.

In re Harris Davis Welch
   Bankr. D.S.C. Case No. 20-00020
      Chapter 11 Petition filed January 3, 2020
         represented by: Reid Smith, Esq.
                         BIRD AND SMITH, PA

In re Jayakrishnan Nair
   Bankr. W.D. Wash. Case No. 20-10010
      Chapter 11 Petition filed January 3, 2020

In re Schmaus Family Properties, LLC
   Bankr. D. Mont. Case No. 20-60002
      Chapter 11 Petition filed January 3, 2020
         See https://is.gd/QPqOUk
         represented by: Gary S. Deschenes, Esq.
                         DESCHENES & ASSOCIATES LAW OFFICES
                         E-mail: gsd@dalawmt.com

In re 11 Forest Avenue Corp.
   Bankr. S.D.N.Y. Case No. 20-22007
      Chapter 11 Petition filed January 2, 2020
         See https://is.gd/dO7S9f
         represented by: Erica Aisner, Esq.
                         KIRBY AISNER & CURLEY LLP
                         E-mail: eaisner@kacllp.com

In re Aissa Medical Resources, L.P.
   Bankr. N.D. Tex. Case No. 20-40002
      Chapter 11 Petition filed January 2, 2020
         See https://is.gd/Ej432x
         represented by: Jeff P. Prostok, Esq.
                         FORSHEY & PROSTOK, LLP
                         E-mail: jprostok@forsheyprostok.com

In re Ol River Hideaway, LLC
   Bankr. W.D. Tex. Case No. 20-50001
      Chapter 11 Petition filed January 2, 2020
         See https://is.gd/1qCOis
         represented by: David T. Cain, Esq.
                         LAW OFFICE OF DAVID T. CAIN
                         E-mail: caindt@swbell.net

In re Truth DC 78 LLC
   Bankr. D.D.C. Case No. 20-00005
      Chapter 11 Petition filed January 6, 2020
         See https://is.gd/BVqHTL
         represented by: Damani K. Ingram, Esq.
                         THE INGRAM FIRM, LLC
                         E-mail: ingramlawfirm@gmail.com

In re Affordable Kar Kare, Inc.
   Bankr. N.D. Tex. Case No. 20-30066
      Chapter 11 Petition filed January 6, 2020
         See https://is.gd/6OkSM4
         represented by: Joyce Lindauer, Esq.
                         JOYCE W. LINDAUER ATTORNEY, PLLC
                         E-mail: joyce@joycelindauer.com

In re Spartan Properties, LLC
   Bankr. W.D.N.C. Case No. 20-30009
      Chapter 11 Petition filed January 6, 2020
         See https://is.gd/B3AlJZ
         represented by: R. Keith Johnson, Esq.
                         LAW OFFICES OF R. KEITH JOHNSON, P.A.
                         E-mail: kjparalegal@bellsouth.net

In re Euroamerican Foods, Inc.
   Bankr. N.D. Ill. Case No. 20-00305
      Chapter 11 Petition filed January 6, 2020
         See https://is.gd/pQwuCw
         represented by: Scott R. Clar, Esq.
                         CRANE, SIMON, CLAR & DAN
                         E-mail: sclar@cranesimon.com

In re SI Operating Company LLC
   Bankr. S.D. Tex. Case No. 20-80013
      Chapter 11 Petition filed January 6, 2020
         See https://is.gd/LJMK3l


In re Sabio Investments LLC
   Bankr. S.D. Tex. Case No. 20-80012
      Chapter 11 Petition filed January 6, 2020
         See https://is.gd/qeMZUY
         Filed Pro Se

In re The Incredible Church, Inc.
   Bankr. N.D. Tex. Case No. 20-30101
      Chapter 11 Petition filed January 6, 2020
         See https://is.gd/HfeXOI
         represented by: Eric A. Liepins, Esq.
                         ERIC A. LIEPINS
                         Email: eric@ealpc.com

In re David Lee Park
   Bankr. W.D. Pa. Case No. 20-20046
      Chapter 11 Petition filed January 6, 2020
         represented by: David Colecchia, Esq.

In re Mary Malone
   Bankr. N.D. Tex. Case No. 20-30050
      Chapter 11 Petition filed January 6, 2020
         represented by: Eric Liepins, Esq.

In re Tommy Minh Quoc Tran and Thanh Thien Nguyen
   Bankr. N.D. Cal. Case No. 20-50013
      Chapter 11 Petition filed January 6, 2020
         represented by: Lars Fuller, Esq.

In re Francisca Siggini-Bess
   Bankr. N.D. Cal. Case No. 20-50014
      Chapter 11 Petition filed January 6, 2020
         represented by: Arasto Farsad, Esq.

In re Helene Thaissa Bergman
   Bankr. S.D. Tex. Case No. 20-30109
      Chapter 11 Petition filed January 6, 2020

In re Richard C. Angino and Alice K. Angino
   Bankr. M.D. Pa. Case No. 20-00031
      Chapter 11 Petition filed January 6, 2020
         represented by: Robert Chernicoff, Esq.

In re Eliodoro Villagomez and Rina Aide Villagomez
   Bankr. S.D. Tex. Case No. 20-30120
      Chapter 11 Petition filed January 6, 2020
         represented by: Anabel King, Esq.

In re TWA Properties, LLC - TWA Properties 6726 Ash
   Bankr. E.D. Tex. Case No. 20-40082
      Chapter 11 Petition filed June 6, 2020
         See https://is.gd/zZJ7VI
         represented by: Eric A. Liepins, Esq.
                         ERICK A. LIEPINS
                         Email: eric@ealpc.com

In re TWA Properties, LLC - TWA Properties 1103 Finch
   Bankr. E.D. Tex. Case No. 20-40083
      Chapter 11 Petition filed January 6, 2020
         See https://is.gd/aNZLwI
         represented by: Eric A. Liepin, Esq.
                         ERIC A. LIEPINS
                         Email: eric@ealpc.com

In re Ruby Lees South, LLC
   Bankr. D.S.C. Case No. 20-00098
      Chapter 11 Petition filed January 6, 2020
         See https://is.gd/1fh7bV
         represented by: Michael W. Mogil, Esq.
                         LAW OFFICE OF MICHAEL W. MOGIL, P.A
                         Email: mmogil@mogillaw.com

In re Solache V Enterprises, Inc.
   Bankr. N.D. Tex. Case No. 20-30107
      Chapter 11 Petition filed January 7, 2020
         See https://is.gd/uMeXxA
         represented by: Eric A. Liepins, Esq.
                         ERIC A. LIEPINS
                         Email: eric@ealpc.com

In re San Remigio, LLC
   Bankr. S.D. Tex. Case No. 20-10008
      Chapter 11 Petition filed January 7, 2020
         See https://is.gd/OSVkwA
         represented by: Enrique J. Solana, Esq.
                         LAW OFFICE OF ENRIQUE J SOLANA
                         Email: enrique@solanapllc.com

In re 321 Broadway Partners, LLC
   Bankr. E.D.N.Y. Case No. 20-70101
      Chapter 11 Petition filed January 7, 2020
         See https://is.gd/r8EOfQ
         represented by: Raymond W. Verdi, Jr., Esq.
                         LAW OFFICES OF RAYMOND W. VERDI, JR. PC
                         Email: rwvlaw@yahoo.com

In re Charles Eugene Barnett, Jr.
   Bankr. S.D. Tex. Case No. 20-30140
      Chapter 11 Petition filed January 7, 2020
         represented by: Reese Baker, Esq.

In re Rudolf H. Hendel and Catherine G. Lin-Hendel
   Bankr. D.N.J. Case No. 20-10237
      Chapter 11 Petition filed January 7, 2020
         represented by: Harrison Byck, Esq.

In re Matt Jasper Martin
   Bankr. N.D. Tex. Case No. 20-40126
      Chapter 11 Petition filed January 7, 2020
         represented by: Howard Spector, Esq.

In re 466 Thackeray Place Industries, LLC
   Bankr. N.D. Ga. Case No. 20-60498
      Chapter 11 Petition filed January 7, 2020
         See https://is.gd/JTJP2c
         represented by: Gai Lynn McCarthy, Esq.
                         KPPB LAW
                         Email: gmccarthy@kppblaw.com

In re New Vision Properties LLC
   Bankr. E.D. Wash. Case No. 20-00028
      Chapter 11 Petition filed January 7, 2020
         See https://is.gd/B7Qypg
         represented by: Rene Erm II, Esq.
                         RENE ERM II, P.L.L.C.
                         Email: rene@ermlawoffice.com

In re Edward Hughes
   Bankr. D.S.C. Case No. 20-00125
      Chapter 11 Petition filed January 7, 2020

In re Dennis Eugene Camp
   Bankr. E.D. Tenn. Case No. 20-10048
      Chapter 11 Petition filed January 7, 2020


                            *********

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 2020.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $975 for 6 months delivered via
e-mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Peter A.
Chapman at 215-945-7000.

                   *** End of Transmission ***