/raid1/www/Hosts/bankrupt/TCR_Public/200117.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Friday, January 17, 2020, Vol. 24, No. 16

                            Headlines

A.L.L. INTERNATIONAL: Hernandezes Object to Disclosures & Plan
AFFORDABLE TOWING: Seeks to Hire McClain DeWees as Counsel
AIR INDUSTRIES: Enters $8.3 Million At-The-Market Offering
AMBOY GROUP: Expected Avoidance Claims Cut to $1.99M
AQUABOUNTY TECHNOLOGIES: Offering $10 Million Common Shares

ARW HOLDINGS: Seeks to Hire Stichter Riedel as Counsel
AVIANCA HOLDINGS: Completes Financing Round of $125 Million
BAN NH LLC: Court Approves Disclosure Statement
BLUE WATER POWERBOATS: Jan. 28, 2020 Disclosure Statement Hearing
BODY BY PASTRAMI: May Continue Using Cash Collateral Until March 7

BORDEN DAIRY: Court Approves All Initial Chapter 11 Motions
BOSTON EAST TYNGSBORO: Prohibited from Using Lowell Cash Collateral
BRUCE BOZZI: Raymond James Tapped to Sell Palm's Real Estate
BRUIN E&P: S&P Cuts ICR to 'CCC+' on Declining Production Forecast
CALLON PETROLEUM: Moody's Affirms B1 CFR, Outlook Stable

CARDINAL HOMES: Seek Authorization to Use Cash Collateral
CENTENNIAL HOTEL: Employs John A. Hammerland as Accountant
CHARLENE CORP: Feb. 12, 2020 Disclosure Statement Hearing Set
CHICK LUMBER: Interim Cash Access Thru April 10 Okayed
CHICKENONTHE RUN: To Seek Plan Confirmation Jan. 27

CHRISTOPHER G. COMBS: Jason A. Burgess Tapped as Gen. Counsel
CLINTON NURSERIES: Varilease Finance to Have $500K Secured Claim
CLU AMBOY: Unsecureds' Recovery to Rely on Avoidance Suits
COCOA EXPO: Asks Leave to Use Cash Collateral
COCOA EXPO: May Use Cash Collateral Thru Jan. 27

COMPASS GROUP: Moody's Raises CFR to B3, Outlook Stable
CORAL-US CO-BORROWER: Moody's Rates New $1.3-Bil. Term Loan 'Ba3'
CRIMSON REALTY: Seeks to Hire Offit Kurman as Counsel
DANICA ASSOCIATES: UST Says Cash Flow Insufficient
DAVE GIDDEON: Unsec. Creditors to Recover 6% in Amended Plan

DIJA HOLDINGS: Court Approves Disclosure Statement
DYNALYST CORPORATION: Court Denies Cash Collateral Motion
EAGLE ENTERPRISES: Seeks to Hire Tim J. Klace as Accountant
EXELA TECHNOLOGIES: Enters Into $160 Million A/R Facility
FC BACKGROUND: $9.5 Million Sale to Fund Plan

FIRED UP: Plan Payment to be Funded by Promissory Note Receivables
FOREVER 21: Working on Plan to Be Funded by Sponsor
FUSION CONNECT: Emerges from Chapter 11 Bankruptcy Protection
GJS BROS. 1: Hires Stephen V. Bottiglieri as Counsel
GODSTONE RANCH: Claims to Be Paid in Full in Installments

GRANITE CITY: May Obtain $4.0 Mil DIP Loan, Use Cash Collateral
GRAY LAND & LIVESTOCK: Seeks Authorization to Use Cash Collateral
HELMET CENTER: U.S. Trustee Unable to Appoint Committee
HOOPERS CONCRETE: March 24 Filing Deadline of Plan & Disclosures
HOSPITAL ACQUISITION: Kettering Health Resigns as Committee Member

IOTA COMMUNICATIONS: Delays Q3 Form 10-Q for Analyses
IPS WORLDWIDE: To Seek Plan Confirmation on Feb. 3
IRIDIUM SATELLITE: Moody's Assigns B1 CFR, Outlook Positive
J & C CORPORATION: ACM Says Disc. Statement Lacks Information
JULIAN CHARTER SCHOOL: S&P Revises Bond Outlook to Stable

KIMBLE DEVELOPMENT: Seeks to Hire Richmond Law as Attorney
LADDER CAPITAL: Fitch Puts BB LT IDR on Rating Watch Positive
LADDER CAPITAL: Moody's Hikes CFR to Ba1 & Alters Outlook to Stable
LADDER CAPITAL: S&P Rates New $500MM Senior Notes 'BB-'
LIFECARE HOLDINGS: Returns to Roots With New Ownership

LOURIV LLC: Seeks to Hire Century 21 as Real Estate Agent
LOURIV LLC: Seeks to Hire Culbert & Schmitt as Counsel
MAGNOLIA PROPERTIES: Employs Judson E. Crump as Counsel
MATTSNOW PROPERTIES: Hires Smedlund & Company as Accountant
MCBB CORP: Employs Wauson Probus as General Counsel

MCCLATCHY CO: Enters Into Standstill Agreement with PBGC
MCDERMOTT INTERNATIONAL: Lenders Agree to Amend Credit Agreements
MINNESOTA SCHOOL: Hires Anthony Ostlund as Special Counsel
MINNESOTA SCHOOL: Hires John Ladd as Regulatory Consultant
MR. MISTER, LLC: Hires Grossbart Portney as Bankruptcy Counsel

MRI INTERVENTIONS: Obtains $17.5M Investment from PTC & Petrichor
MRI INTERVENTIONS: Will Change Corporate Name to ClearPoint Neuro
NEAL ELECTRIC: Court Bars Access to Cash Collateral on Final Basis
NEW SCHOOL OF COOKING: Case Summary & 20 Top Unsecured Creditors
NPB COMPANY: Hires McDowell Rice as Bankruptcy Counsel

ONE HUNDRED FOLD: Seeks to Hire Kelly Hart as Counsel
PACIFIC DRILLING: Arbitration Tribunal Awards $320 Million
PAYLESS SHOESOURCE: Emerges from Voluntary Chapter 11 Protection
PBF HOLDING: Fitch Assigns BB Rating to Proposed Unsec. Notes
PBF HOLDING: Moody's Assigns B1 Rating to Sr. Unsec. Notes

PBF HOLDING: S&P Rates New $1BB Senior Unsecured Notes 'BB'
PESTOVA HOLDINGS: Asks Court for Access to Cash Collateral
PESTOVA HOLDINGS: Gets Interim OK to Use Cash Collateral
PHUONG NAM: Jan. 28. 2020 Plan & Disclosures Hearing Set
PIXELLE SPECIALTY: Moody's Reviews B2 CFR for Upgrade

PIXELLE SPECIALTY: S&P Hikes ICR to 'B' on Paper Mills Acquisition
PNW HEALTHCARE: May Continue Using Cash Collateral Until Feb. 11
POCMONT PROPERTIES: Employs Spence Law Office as Counsel
PROTECH METAL: Gets Interim Cash Collateral Access Thru June 30
REGIONAL SITE: Seeks to Hire Hal Surrat as Accountant

RILEY DRIVE ENTERTAINMENT: Voluntary Chapter 11 Case Summary
ROMANS HOUSE: Seeks to Hire DeMarco Mitchell as Counsel
S C BHAIRAB INC: Seeks Access to Regions Bank Cash Collateral
SAEXPLORATION HOLDINGS: Nasdaq Grants Extension to file Reports
SAEXPLORATION HOLDINGS: Sells Seismic Data & Related Assets to TGS

SANA INDUSTRIES: Congressional Gets 100% with Interest in 10 Years
SAND CASTLE: Unsecureds Payout to Depend on Outcome of Sales
SCORPION FITNESS: Seeks to Hire Marcum LLP as Accountant
SEABRAS 1 USA: Hires Stretto as Administrative Advisor
SELFRIDGE PARTNERS: To Seek Approval of Plan on Jan. 21

SUMMIT TERMINAL: Seeks to Hire Steadman Law as Counsel
SUPERMOOSE NEWCO: S&P Alters Outlook to Neg., Affirms 'B-' ICR
THOC, PA: Hires Eric A. Liepins as its Counsel
TOUCH OF HEAVEN: Seeks to Hire Bates and Hausen as Counsel
UNITED AIRLINES: Moody's Affirms Ba2 CFR & Alters Outlook to Pos.

UNITED METHODIST: Deadline to File Amended Plan Extended to March
VALLEY TIMBER: Feb. 19, 2020 Disclosure Statement Hearing Set
VOYAGEUR ACADEMY: S&P Alters Outlook to Positive
WALKER COUNTY: May Borrow up to $5M of DIP Funds on Final Basis
WATERS CAPITAL: Seeks to Hire DeMarco Mitchell as Counsel

WOMEN'S CENTER: Seeks to Use Cash Collateral
[^] BOOK REVIEW: Hospitals, Health and People

                            *********

A.L.L. INTERNATIONAL: Hernandezes Object to Disclosures & Plan
--------------------------------------------------------------
Ramon Garcia Hernandez and Gabriela Hernandez, secured creditors,
filed their objection to the Disclosure Statement and Plan filed by
debtor A.L.L. International, LLC on December 2, 2019.

The Hernandezes in their objection point out that:

   * The Disclosure Statement fails to include relevant information
from recent bankruptcy activity regarding the people serving as
principals or affiliates of the Debtor.  This information bears on
the legitimacy of Debtor's claims of storm damage, the estimated
scope of any damage and whether this day-of-foreclosure case was
filed in bad faith.

   * Lenders' counsel has come to learn that Sergio De La Canal was
the owner of Correct Claim Public Adjusters, LLC, debtor in Case
No. 17-16483-leb, a Chapter 11 case filed on December 6, 2017, in
the District of Nevada.  Sergio De La Canal, though this company,
operated an insurance claims adjusting scheme that was involved in
bogus estimates of storm and roof damage, with the estimates being
sold to a ring of lawyers that De La Canal used to file lawsuits
for homeowners.

   * The Disclosure Statement fails to reflect that since acquiring
the Apartment Complex in April 2017 and retaining rentals from the
8 units, Debtor has failed to pay any of the real estate taxes as
is a requirement under the Deed of Trust in Lender's favor. There
is no explanation of why the Debtor has allowed over $73,000 in tax
delinquencies to accumulate.

   * The proposed plan is not feasible.  At most, the Debtor can
collect $5,600 in monthly rents from the Apartment Complex.  While
only $67,200 will come in annually, the Debtor remains under water
with $73,000+ owing in past due to tax arrearages, $18,000+ in
annual taxes and debt service owing to Lenders.

A full-text copy of the objection of Ramon Garcia and Gabriela is
available at https://tinyurl.com/w2thdpo from PacerMonitor.com at
no charge.

The Hernandezes are represented by:

      FIRTH BUNN KERR NEIL
      Victor M. Firth
      311 Montana, Suite B Law Center
      El Paso, Texas 79902
      P.O. Box 942(79946-0942)
      Tel: 915-532-7500
      Fax: 915-532-7503
      E-mail: vfirth@fbknlaw.com

                 About A.L.L. International

A.L.L. International owns two 4-plex Apartment community located at
8931 Marks St. and 8935 Marks St. El Paso, Texas 79904, known as
the Marks Street Apartments.  

A.L.L. International filed a Chapter 11 bankruptcy petition (Bankr.
W.D. Tex. Case No. 19-11182) on Sept. 3, 2019, estimating under $1
million in assets and liabilities. The H. Christopher Mott is the
presiding judge. Ron Satija, Esq., at Hajjar Peters, LLP, is the
Debtor's counsel.


AFFORDABLE TOWING: Seeks to Hire McClain DeWees as Counsel
----------------------------------------------------------
Affordable Towing & Recovery, Inc., seeks authority from the U.S.
Bankruptcy Court for the Southern District of Indiana to employ
McClain DeWees, PLLC, as counsel to the Debtor.

Affordable Towing requires McClain DeWees to:

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

   b. take all necessary action to protect and preserve Debtor's
      estate, including the prosecution of actions on behalf of
      Debtor, the defense of any actions commenced against
      Debtor, negotiations concerning all litigation in which
      Debtor is involved, if any, and objecting to claims filed
      against Debtor's estate;

   c. prepare on behalf of Debtor, as debtor in possession, all
      necessary motions, answers, orders, reports and other legal
      papers in connection with the administration of Debtor's
      estate herein; and

   d. perform any and all other legal services for Debtor, as
      debtor in possession, in connection with this Chapter 11
      case and the formulation and implementation of Debtor's
      Chapter 11 Plan.

McClain DeWees will be paid at these hourly rates:

        Attorneys          $300
        Paralegals         $150

McClain DeWees received a retainer of $10,000 on January 3, 2020
prior to the filing of the Petition. After payment of fees and
expenses incurred prior to the filing of the Petition, McClain
DeWees still holds $6,000 in retainer.

McClain DeWees will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Michael W. McClain, a partner at McClain DeWees, 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.

McClain DeWees can be reached at:

     Michael W. McClain, Esq.
     MCCLAIN DEWEES, PLLC
     6008 Brownsboro Park Blvd., Suite H
     Louisville, KY 40207
     Tel: (502) 749-2388
     E-mail: mmcclain@mcclaindewees.com

              About Affordable Towing & Recovery

Affordable Towing & Recovery, Inc., filed a Chapter 11 bankruptcy
petition (Bankr. S.D. Ind. Case No. 20-90002) on Jan. 3, 2020,
disclosing under $1 million in both assets and liabilities.  The
Debtor is represented by Michael W. McClain, Esq., at McClain
DeWees, PLLC.


AIR INDUSTRIES: Enters $8.3 Million At-The-Market Offering
----------------------------------------------------------
Air Industries Group entered into an At The Market Offering
Agreement on Jan. 15, 2020, with Roth Capital Partners, LLC,
pursuant to which the Company may offer and sell from time to time
up to an aggregate of $8,217,345 in shares of the Company's common
stock, through the Agent.

The Placement Shares have been registered under the Securities Act
of 1933, as amended, pursuant to the Registration Statement on Form
S-3 (File No. 333-234015), which was declared effective by the
Securities and Exchange Commission on Oct. 10, 2019, the base
prospectus contained within the Registration Statement, and a
prospectus supplement that was filed with the SEC on Jan. 15, 2020.


Sales of the Placement Shares, if any, pursuant to the Offering
Agreement, may be made in sales deemed to be "at the market
offerings" as defined in Rule 415 promulgated under the Securities
Act.  The Agent will act as sales agent and will use commercially
reasonable efforts to sell on the Company's behalf all of the
Placement Shares requested to be sold by the Company, consistent
with its normal trading and sales practices, on mutually agreed
terms between the Agent and the Company.

The Company has no obligation to sell any of the Placement Shares
under the Offering Agreement.  The Offering Agreement terminates on
Jan. 15, 2021, and may be earlier terminated by the Company upon
five business days' notice to the Agent and at any time by the
Agent or by the mutual agreement of the parties.

The Company intends to use the net proceeds from this offering for
general corporate purposes, including working capital.

The Offering Agreement contains customary representations,
warranties and agreements by the Company, as well as
indemnification obligations of the Company for certain liabilities
under the Securities Act.

Under the terms of the Offering Agreement, the Company will pay the
Agent a commission equal to 2.5% of the gross proceeds from the
gross sales price of the Placement Shares.  In addition, the
Company has agreed to pay certain expenses incurred by the Agent in
connection with the offering.

                       About Air Industries

Headquartered in Bay Shore, New York, Air Industries Group is an
integrated manufacturer of precision equipment assemblies and
components for aerospace and defense prime contractors.

Air Industries reported a net loss of $10.99 million in 2018
following a net loss of $22.55 million in 2017.  As of Sept. 30,
2019, the Company had $50.75 million in total assets, $40.19
million in total liabilities, and $10.56 million in total
stockholders' equity.

Rotenberg Meril Solomon Bertiger & Guttilla, P.C., in Saddle Brook,
NJ, the Company's auditor since 2008, issued a "going concern"
qualification in its report dated April 1, 2019, on the Company's
consolidated financial statements for the year ended Dec. 31, 2018,
citing that the Company has suffered a net loss in 2018 and is
dependent upon future issuances of equity or other financing to
fund ongoing operations, all of which raise substantial doubt about
its ability to continue as a going concern.


AMBOY GROUP: Expected Avoidance Claims Cut to $1.99M
----------------------------------------------------
Debtor Amboy Group, LLC filed a Fifth Amended Disclosure Statement
describing its Plan of Liquidation.

Amboy Group and CLU Amboy, LLC are no longer operating and sold all
of their assets and are left with cash and the right to pursue
avoidance actions.  Following the Sale Order, the Debtor's
remaining assets consist of cash-on-hand and potential rights of
action including, but not limited to, any rights arising from the
Insider Allegations, potential avoidance actions arising under the
Bankruptcy Code, potential rights of action arising under corporate
insurance policies, and other potential actions which continue to
be assessed by the Debtor.

General unsecured creditors shall be paid from the collection of
avoidance action claims by the Liquidating Trustee.  Currently,
there are approximately $1.99 million in potential avoidance claims
compared to $3.7 million in potential avoidance claims from the
prior iteration of the Plan.

Unsecured claims, as scheduled, total $5 million.

All Equity Interests will be extinguished and the Debtor liquidated
in full.

The potential recovery of preference and other actions total
$1,989,682.  There are no other preference actions that will be
pursued. Recovery of avoidance claims shall be held by the
Liquidating Trustee. The Liquidating Trustee shall act as the
Disbursing Agent for the purpose of making distributions provided
for under the Plan.  In addition, the Debtor received $75,000 in
sale proceeds and is entitled to $225,000 in future profits from
the purchaser of its assets, United Premium Foods, LLC.  The
$75,000 will be transferred to the Liquidating Trustee and the
rights to collect future profits will also be transferred to the
Liquidating Trustee.

A full-text copy of the Amended Disclosure Statement is available
at https://tinyurl.com/t7m5osr from PacerMonitor.com at no charge.

The Debtor is represented by:

      McMANIMON, SCOTLAND & BAUMANN, LLC
      75 Livingston Avenue, Suite 201
      Roseland, NJ 07068
      Tel: (973) 622-1800
      Anthony Sodono, III
      Sari B. Placona
      E-mail: asodono@msbnj.com
              splacona@msbnj.com

                      About Amboy Group

Amboy Group LLC, d/b/a Tommy Moloney's, d/b/a Agnelli's Gourmet,
d/b/a Amboy Cold Storage, is a provider of food products and
temperature controlled warehouses.  Its food processing and cold
storage facility serves as a manufacturer/distributor of authentic
Irish and Italian meat products in America.  Amboy Group's facility
is USDA, FDA and SQF 2000 certified.

CLU Amboy, LLC, is the fee simple owner of a real property located
at 1 Amboy Avenue Woodbridge, NJ 07095 with an appraised value of
$13 million. CLU Amboy reported gross revenue of $624,444 in 2016
and gross revenue of $644,066 in 2015.

Amboy Group holds a 51% interest in an American entity known as
Parmacotta-Amboy NA, LLC, that distributes Italian meats.  The
remaining 49% is owned by an American entity known as Parmacotto
America. Parmacotto America is owned by Paramcotto sPa. Parmacotto
sPa has been subject to insolvency proceedings in Italy for
approximately two and half years, during which time, no revenue has
flowed from Parmacotto sPa to Amboy Group. Amboy Group's gross
revenue amounted to $10.01 million in 2016 and $6.26 million in
2015.

Amboy Group LLC and its affiliate CLU Amboy filed Chapter 11
petitions (Bankr. D.N.J. Case Nos. 17-31653 and 17-31647) on Oct.
25, 2017. At the time of filing, the Amboy Group reported $1.48
million in assets and $7.11 million in liabilities, while CLU Amboy
reported $13.34 million in assets and $10.78 million in
liabilities.

The Hon. Christine M. Gravelle oversees the case.

The Debtors tapped Anthony Sodono, III, Esq., and Sari Blair
Placona, Esq., of Trenk, DiPasquale, Della Fera & Sodono, P.C., as
bankruptcy counsel, substituted by McManimon Scotland & Baumann,
LLP. The Debtors hired Reitler Kailas & Rosenblatt LLC as special
counsel, and Thomas A. Ferro, P.C., as their accountant. The
Debtors also tapped Sout Risius Ross Advisors, LLC, and its
affiliate Stout Risius Ross, LLC, as financial advisor and
investment banker.


AQUABOUNTY TECHNOLOGIES: Offering $10 Million Common Shares
-----------------------------------------------------------
AquaBounty Technologies, Inc., has filed with the Securities and
Exchange Commission a Form S-1 registration statement relating to
the offering of $10.0 million shares of its common stock.

The Company's common stock is listed on the Nasdaq Capital Market
under the symbol "AQB".  On Jan. 14, 2020, the closing sale price
of the Company's common stock on the Nasdaq Capital Market was
$2.66 per share.

The Company has granted the underwriters an option to purchase up
to an additional $1.5 million of shares of common stock from the
Company at the public offering price, less the underwriting
discounts and commissions, within 45 days from the date of this
prospectus to cover over-allotments, if any.

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

                      https://is.gd/BHIZT5

                       About AcquaBounty

Headquartered in Maynard, Massachusetts, AquaBounty Technologies,
Inc., is a biotechnology company focused on enhancing productivity
and sustainability in the fast-growing aquaculture market.  The
Company's objective is to ensure the availability of high-quality
seafood to meet global consumer demand, while addressing critical
production constraints in the most popular farmed species.

AquaBounty reported a net loss of $10.38 million in 2018 following
a net loss of $9.26 million in 2017.  As of Sept. 30, 2019, the
Company had $32.96 million in total assets, $6.08 million in total
liabilities, and $26.88 million in total stockholders' equity. Cash
and cash equivalents at Sept. 30, 2019, was $6.4 million.

Wolf & Company, P.C., in Boston, Massachusetts, the Company's
auditor since 2011, issued a "going concern" qualification in its
report dated March 7, 2019, on the Company's consolidated financial
statements for the year ended Dec. 31, 2018, citing that the
Company has suffered recurring losses and negative cash flows from
operations.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern.


ARW HOLDINGS: Seeks to Hire Stichter Riedel as Counsel
------------------------------------------------------
ARW Holdings, Inc., seeks authority from the U.S. Bankruptcy Court
for the Northern District of Florida to employ Stichter Riedel
Blain & Postler, P.A., as counsel to the Debtor.

ARW Holdings requires Stichter Riedel to:

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

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

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

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

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

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

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

Stichter Riedel will be paid based upon its normal and usual hourly
billing rates. Stichter Riedel will be paid a retainer in the
amount of $6,717.

Stichter Riedel will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Jodi Daniel Dubose, partner of Stichter Riedel Blain & Postler,
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.

Stichter Riedel can be reached at:

     Jodi Daniel Dubose, Esq.
     STICHTER RIEDEL BLAIN & POSTLER, P.A.
     41 N. Jefferson Street, Suite 111
     Pensacola, FL 32501
     Tel: (850) 637-1836
     Fax: (850) 791-6545
     E-mail: jdubose@srpb.com

                    About ARW Holdings, Inc.

ARW Holdings Inc., filed a Chapter 11 bankruptcy petition (Bankr.
N.D. Fla. Case No. 19-31227) on Nov. 12, 2019, disclosing under $1
million in both assets and liabilities.  The Debtor is represented
by Jodi Daniel Dubose, partner of Stichter Riedel Blain & Postler,
P.A.


AVIANCA HOLDINGS: Completes Financing Round of $125 Million
-----------------------------------------------------------
Avianca Holdings S.A. successfully completed the funding of its
previously announced convertible secured debt financings in a total
amount of US$125 million.  These financings are incremental to the
$250 million convertible secured stakeholder facility loan by
United Airlines Inc., and an affiliate of Kingsland Holdings
Limited that was funded in December, 2019.

In December, 2019, and in the context of the funding of the
Stakeholder Loan, the Company announced that it had obtained
commitments for (i) US$50 million for convertible loans, on
substantially the same economic terms as the Stakeholder Loan, from
a group of Latin American investors, and (ii) US$75 million in
commitments for senior secured convertible loans and bonds, which
serve as a bridge financing to completion of a contemplated
convertible bond offering to preferred shareholders, including (x)
a commitment of US$50 million from an investment vehicle managed by
Citadel Advisors LLC, for senior secured convertible notes and (y)
a commitment of US$25 million for senior secured convertible loans
from another group of Latin American investors.  The LatAm Bridge
Loan is on substantially the same economic terms as the Stakeholder
Loan, except that any voluntary prepayment by the Company -which
can occur at the Company's option on the earlier to occur of (x)
June 5, 2020 and (y) the date occurring 30 days after issuance of
the Incremental Bonds- will trigger a cash interest payment at 12%
per annum over the amount prepaid. The Stakeholder Loans, the
Additional Secured Convertible Loans, the LatAm Bridge Loan and the
Citadel Notes are secured by the same collateral package that was
granted to the lenders under the Stakeholder Loan, consisting
mainly of pledges in the equity interests in Avianca group entities
and, until the issuance of the Incremental Bonds, certain credit
card receivables collateral.

The Additional Secured Convertible Loans, the LatAm Bridge Loan and
the Citadel Notes were fully funded in stages over last three
weeks, concluding on Jan. 10, 2020.

The Incremental Bonds, if and when issued, will be secured by
certain credit card receivables of the Company and will mature on
or after the maturity of the Stakeholder Loans and the Additional
Secured Convertible Loans.  The remaining terms of the Incremental
Bonds will be determined in due course.

The Citadel Notes will mature in one year with an initial 9%
payment-in-kind (PIK) annual interest rate.  Upon the issuance of
at least US$140 million aggregate principal amount of Incremental
Bonds, the annual interest rate on the Citadel Notes will be
reduced to 3% PIK, and the Citadel Notes will become optionally
prepayable, at the election of the Company, at par.  The Citadel
Notes are convertible at the election of their holders upon
substantially the same terms as the Stakeholder Loan, at an initial
conversion price equal to US$4.6217 per one ADS or eight preferred
shares of the Company (subject to customary adjustments).  The
Citadel Notes also will be convertible into Incremental Bonds at
the election of their holders upon their initial issuance for
identical amounts of aggregate principal amount, up to a maximum of
US$50.0 million of Incremental Bonds.

The lenders under the Stakeholder Loans, the Additional Secured
Convertible Loans, the LatAm Bridge and Citadel Notes are also
subject to an intercreditor agreement governing the enforcement of
the collateral securing each such instruments on a pari passu
basis, except that Citadel was granted senior rights to the credit
card receivables collateral that will, upon the issuance of the
Incremental Bonds, be released as collateral from the above
described financings and is contemplated to be the sole collateral
of the Incremental Bonds.  The intercreditor agreement also
provides for certain buy-out rights of the Citadel notes by the
lenders under the Stakeholder Loans, the Additional Secured
Convertible Loans and the LatAm Bridge in the case of the
acceleration or non-payment at maturity of those notes.

The lenders under the Stakeholder Loans, the Additional Secured
Convertible Loans, the LatAm Bridge and Citadel have been granted
customary registration rights regarding the equity interests in
which their financings are convertible.

                     About Avianca Holdings S.A.

Avianca Holdings SA -- http://www.avianca.com/-- is a Panama-based
company engaged, through its subsidiaries, in the provision of air
transportation services for passengers and commercial purposes.
With a fleet of 175 aircraft, Avianca serves 76 destinations in 27
countries within the Americas and Europe.

KPMG S.A.S., in Bogota, Colombia, the Company's auditor since 2018,
issued a "going concern" qualification in its report dated April
26, 2019, on the Company's consolidated financial statements for
the year ended Dec. 31, 2018, citing that the controlling
shareholder of the Company obtained a loan and pledged its shares
in Avianca Holdings S.A. as security for this loan agreement (the
loan agreement), which requires compliance with certain covenants
by the controlling shareholder, including compliance with the
Company financial ratios.  Breach of these covenants provides the
lender the right to enforce the security, leading to a change of
control over the Company.  A change of control over the Company
would breach covenants included in some loan and financing,
aircraft rental, and other agreements of the Company, which in turn
could trigger early termination or cancelation of these contracts.
On April 10, 2019, the Company was informed by the controlling
shareholder and its lender, that there was a non-compliance with
covenants established in the controlling shareholder's loan
agreement, and no waiver was in place; thus, there is a potential
risk of change of control.  The auditors said this circumstance
raises a substantial doubt about the Company's ability to continue
as a going concern.

As of Dec. 31, 2018, Avianca Holdings had US$7.11 billion in total
assets, US$6.12 billion in total liabilities, and US$992.46 million
in total equity.

                            *   *   *

As reported by the TCR on Dec. 19, 2019, Fitch Ratings upgraded
Avianca Holdings' Long-Term Foreign and Local Currency Issuer
Default Ratings to 'CCC+' from 'RD'.  The upgrades follow Avianca's
announcement that it has completed its debt restructuring,
including receipt of a US$250 million convertible secured
stakeholder facility loan from United Airlines, Inc. (BB/Stable)
and Kingsland Holdings Limited.


BAN NH LLC: Court Approves Disclosure Statement
-----------------------------------------------
Judge Barbara Ellis-Monro has ordered that the Disclosure Statement
explaining Ban NH LLC's Chapter 11 Plan is approved.

Feb. 11, 2020 at 11:00 a.m., Eastern Time, is fixed as the time for
the hearing on confirmation of the Plan. The hearing will be held
in Courtroom 1402, United States Courthouse, 75 Ted Turner Drive,
S.W., Atlanta, Georgia 30303.

Jan. 31, 2020 is fixed as the last day for filing and serving
written objections to confirmation of the Plan.

Jan. 31, 2020 is fixed as the last day for filing ballots
indicating written acceptances or rejections of the Plan.

As reported in the Troubled Company Reporter, the Plan proposes to
treat claims as follows:

  * Class 1 Metro City Bank.  IMPAIRED.  Amount of claim
$1,423,472.09.  Metro City Bank's claim is deemed a fully Allowed
Secured Claim and will be paid in full according to contractual
terms by Debtor.

  * Class 2 Southern Bank.  IMPAIRED.  Amount of claim
$1,572,546.71.  The claim will be paid in full according to
contractual terms by Debtor.

  * Class 3B General Unsecured Claims.  IMPAIRED.  All allowed
unsecured claims not separately classified will be paid 100% of
each allowed claim with regular quarterly payments beginning the
first Business Day of the month, 30 days following the Effective
Date.

All payments under the Plan which are due on the Effective Date
will be funded from the Cash on hand, and operating revenues.  The
funds necessary to ensure continuing performance under the Plan
after the Effective Date will be (or may be) obtained from: (a) any
and all remaining Cash retained by the Reorganized Debtor after
the
Effective Date; and (b) Cash generated from the post-Effective Date
operations of the Reorganized Debtor; and (c) any other
contributions or financing (if any) which the Reorganized Debtor
may obtain on or after the Effective Date.

A full-text copy of the Disclosure Statement dated Nov. 18, 2019,
is available at https://tinyurl.com/ry7fenv from PacerMonitor.com
at no charge.

Attorneys for Debtor:

     Theodore N. Stapleton
     THEODORE N. STAPLETON, PC
     Suite 100-B
     2802 Paces Ferry Road
     Atlanta, Georgia 30339
     Tel: (770) 436-3334
     E-mail: tstaple@tstaple.com

                      About Ban NH, LLC

Ban NH LLC operates a 60-bed skilled nursing facility, currently
housing 55 residents, known as the Betty Ann Nursing Center located
1400 South Main Street, Grove Oklahoma 74344.  The managing member
is Christopher F. Brogdon.

Ban NH LLC sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. N.D. Ga. Case No. 19-60464) on July 2, 2019.  In the
petition signed by the company manager, Christopher F. Brogdon, the
Debtor was estimated to have assets and liabilities of less than
$10 million.  Theodore N. Stapleton, P.C., serves as the Company's
bankruptcy counsel.


BLUE WATER POWERBOATS: Jan. 28, 2020 Disclosure Statement Hearing
-----------------------------------------------------------------
On Nov. 4, 2019, debtor Blue Water Powerboats, Inc., filed with the
U.S. Bankruptcy Court for the Southern District of Florida a
disclosure statement and plan.  On Dec. 26, 2019, Judge Mindy A.
Mora ordered that:

  * Jan. 21, 2020, is the deadline for filing and serving
objections to the disclosure statement.

  * Jan. 28, 2020, at 1:30 p.m., at the United States Bankruptcy
Court, Courtroom A, 1515 North Flagler Drive, West Palm Beach,
Florida 33401 is the hearing to consider approval of the disclosure
statement.

A full-text copy of the Disclosure Statement Order is available at
https://tinyurl.com/sqm3khq from PacerMonitor.com at no charge.

The Debtor is represented by:

        Jordan L. Rapport, Esq.
        Rappaport Osborne Rappaport, PLLC
        1300 North Federal Highway, Suite 203
        Boca Raton, Florida 33432

                  About Blue Water Powerboats

Blue Water Powerboats, Inc. sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. S.D. Fla. Case No. 18-21113) on Sept.
10, 2018. At the time of the filing, the Debtor was estimated to
have assets of less than $50,000 and liabilities of less than
$500,000.  Judge Mindy A. Mora oversees the case.  The Debtor
tapped David Lloyd Merrill, Esq., at The Associates, as its legal
counsel.


BODY BY PASTRAMI: May Continue Using Cash Collateral Until March 7
------------------------------------------------------------------
Judge Trish M. Brown of the U.S. Bankruptcy Court for the District
of Oregon authorized Body By Pastrami, LLC, to use cash collateral
until March 7, 2020, limited to the uses set forth in the Budget,
together with a 15% aggregate variance.

OnDeck Capital, Inc., Performance Food Group, Inc., and American
Express are each granted replacement liens upon all post-petition
assets of the Debtor which are of the identical description to
their respective pre-petition collateral, with the same relative
priority that existed as of the Petition Date.

The Interim Order is available at https://is.gd/FxzBkM from
PacerMonitor.com free of charge.

                     About Body By Pastrami

Body By Pastrami, LLC, is an Oregon limited liability company
managed by its member, Ken Gordan.  The company owns and operates a
delicatessen in the Portland metropolitan area, Kenny & Zuke's
Delicatessen.

Body By Pastrami sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Ore. Case No. 19-34107) on Nov. 6, 2019,
disclosing assets of less than $500,000 and debt of less than $1
million.  The Debtor is represented by Nicholas J. Henderson, Esq.,
at Motschenbacher & Blattner, LLP.



BORDEN DAIRY: Court Approves All Initial Chapter 11 Motions
-----------------------------------------------------------
Borden, one of America's favorite dairy companies founded in 1857,
on Jan. 13 disclosed that it and certain affiliates (collectively,
"Borden" or the "Company") received court approval of all initial
motions filed after it initiated voluntary reorganization
proceedings in the District of Delaware under Chapter 11 of the
Bankruptcy Code.  These approvals provide interim authorization for
the Company to continue paying employee wages, benefits and
reimbursable expenses, as well as critical vendor invoices and
expenses related to pre-petition obligations to customers that were
committed to prior to filing.

"We are thrilled that Borden had a very productive court hearing
last week," said Borden CEO Tony Sarsam.  "Earning these approvals
was an important milestone as we continue normal business
operations and work to resolve this matter expeditiously."

Borden's next court hearing is scheduled for Jan. 23, when it hopes
to be granted approval to continue normal business operations
beyond the initial 30-day period and for the remainder of court
proceedings.

"Borden employees have done a superhuman amount of work to ensure
that there are minimal interruptions to our business," Mr. Sarsam
said.  "I want to offer my heartfelt thanks to these special
employees for all their work to take care of the Borden family and
those we love to serve, truly living 'The Borden Difference.'"

The Company initiated the voluntary reorganization proceedings on
Jan. 5 to pursue a financial restructuring designed to reduce its
current debt load, maximize value and position the Company for
long-term success.  It intends to work closely with creditors,
customers and employees to identify value-maximizing restructuring
plans that will benefit all stakeholders.

For additional information about the reorganization, visit
bordenfinancialreorg.com.

                        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.


BOSTON EAST TYNGSBORO: Prohibited from Using Lowell Cash Collateral
-------------------------------------------------------------------
Judge Elizabeth D. Katz of the U.S. Bankruptcy Court for the
District of Massachusetts granted The Lowell Five Cent Savings
Bank's motion seeking an Order: (1) for adequate protection and (2)
prohibiting Boston East Tyngsboro Holdings LLC from using cash
collateral.

In its motion, the Bank disclosed that the Debtor owed it a sum of
not less than $3,518,662, as of the Petition Date. The obligations
of the Debtor to the Bank are secured by a properly perfected first
priority mortgage on the Real Property and a properly perfected
first priority security interest in the Personal Property.

The Bank believed that hospitality operations on the Real Property
continue generating cash and presumably cash is necessary to fund
operating expense and will clearly be needed as well to maintain
any existence in chapter 11 to cover expenses such as US Trustee
quarterly fees. Additionally, the Debtor has received insurance
payments relating to damage to the property in 2019, and may
receive further funds from the insurer relating to that damage.
Based on the Bank's records, it appears that the Debtor has already
misused some or all of these insurance proceeds.

In addition, the Bank received an appraisal performed for the
Foreclosure sale, reflecting that the value of the Property has
dropped from $5,100,000 in 2014 to an amount significantly below
the amount of the secured debt, leaving the Bank undersecured.

                   About Boston East Tyngsboro

Boston East Tyngsboro Holdings LLC is a Single Asset Real Estate
(as defined in 11 U.S.C. Section 101(51B)).  Boston East Tyngsboro
is the fee simple owner of Stonehedge Inn & Spa, The Stonehedge
Hotel & Spa, and NoLo Bistro & Bar.

Boston East Tyngsboro filed a Chapter 11 bankruptcy petition
(Bankr. D. Mass. Case No. 19-41901), on Dec. 4, 2019.  The petition
was signed by Abhijit Das, managing member.  At the time of filing,
the Debtor had $7,127,900 in assets and $4,297,915 in liabilities.
The case is assigned to Judge Elizabeth D. Katz. The Debtor is
represented by Jesse I. Redlener, Esq. at ASCENDANT LAW GROUP, LLC.



BRUCE BOZZI: Raymond James Tapped to Sell Palm's Real Estate
------------------------------------------------------------
Just One More Restaurant Corp., Just One More Holding Corp., and
Robert E. Tardif, Jr. in his capacity as the Trustee for the
bankruptcy estates of Bruce E. Bozzi, Sr. and Walter J. Ganzi, Jr.
(the "Debtors"), on Jan. 7, 2020, disclosed that they have retained
Raymond James & Associates, Inc. to sell The Palm's intellectual
property, real estate located on Second Avenue in New York, N.Y.
and East Hampton, N.Y., the 21 restaurants owned by the Debtors and
licensing rights with respect to three other restaurants, and other
assets of the Debtors under the jurisdiction of the U.S. Bankruptcy
Court for the Middle District of Florida.

The sale transaction will be consummated through a "section 363"
sale process pursuant to the U.S. Bankruptcy Code.  The sale is
expected to close by March 31, 2020.

The Palm restaurants, which are not in bankruptcy, will continue to
operate in the ordinary course.  Just One More Restaurant Corp. and
Just One More Holding Corp. are advised by the law firm of Berger
Singerman LLP, which also serves as special corporate counsel to
Trustee Tardif, and McHale P.A. which serves as the Chief
Restructuring Officer; Raymond James & Associates, Inc. serves as
the company's investment banker.

Parties interested in participating in the marketing process should
contact the company's investment banker, Raymond James &
Associates, Inc. (Geoffrey Richards,
geoffrey.richards@raymondjames.com, and Rob Arnold,
rob.arnold@raymondjames.com).

                      About Berger Singerman

Berger Singerman LLP, Florida's business law firm, has more than 80
attorneys working out of offices in Boca Raton, Fort Lauderdale,
Miami and Tallahassee.  Members of the firm have expertise in
commercial law, including business reorganization, corporate
securities and M&A, dispute resolution, intellectual property,
employment law, real estate, environmental and land use, government
and regulatory, healthcare, immigration, insurance, internal
investigations and white- collar criminal defense, tax, and wealth
preservation.  Berger Singerman is consistently and widely
recognized by independent third parties for its excellence in
client service, results obtained for clients and its culture; most
recently, the firm was named by the Daily Business Review as the
Midsize Litigation Department of the Year, to the "Midsize Hot
List" by the National Law Journal for three years in a row, and as
a top Florida law firm by U.S. News and World Report "Best Law
Firms" as well as Chambers USA.  For more information, please visit
www.bergersingerman.com or the Doing Business in Florida resource
www.flabusinesslaw.com.



BRUIN E&P: S&P Cuts ICR to 'CCC+' on Declining Production Forecast
------------------------------------------------------------------
S&P Global Ratings lowered the issuer credit rating on U.S.-based
oil and natural gas production company Bruin E&P Partners LLC to
'CCC+' from 'B-'.

The downgrade incorporates S&P's view of increased credit risk as
Bruin contends with lower production, tight liquidity, and covenant
headroom, as well as debt-trading levels well-below par--which the
rating agency believes indicates a higher probability of a
conventional default or distressed debt exchange in the future. S&P
expects management to continue running a one-rig drilling program
split between Fort Berthold and Williams County for the next 12 to
24 months, which will likely translate to annual production
declines of around 5% on a capital budget of $150 million-$215
million. Although quarterly free cash flow swings may occur, S&P
expects modestly negative cash flow for full-year 2020 and the
rating agency is not currently envisioning a material debt
reduction in 2021.

The negative outlook on Bruin reflects its constrained liquidity
position, tight covenant headroom, and likelihood of a potential
default or distressed debt exchange implied by current trading
levels on the unsecured notes.

"We could lower the ratings if liquidity continues to deteriorate,
or if we believe there is an increased probability of default or a
distressed debt exchange in the next 12 months," S&P said.

"We could raise our rating on Bruin if liquidity and covenant
headroom improve, and we no longer believe there is a high
likelihood of default or a debt exchange that we would deem as
distressed." This scenario could occur if the company avoids
further operational issues while exhibiting at least several
consecutive quarters of significant positive free cash generation,"
the rating agency said.


CALLON PETROLEUM: Moody's Affirms B1 CFR, Outlook Stable
--------------------------------------------------------
Moody's Investors Service affirmed Callon Petroleum Company's
ratings, including its B1 Corporate Family Rating, B1-PD
Probability of Default Rating and B2 ratings on the four issues of
senior unsecured notes. The SGL-2 Speculative Grade Liquidity (SGL)
rating remains unchanged following the completion of the merger
with Carrizo Oil & Gas, Inc. The outlook is stable. Additionally,
Moody's has withdrawn all of Carrizo ratings, including its B1 CFR,
B1-PD PDR and SGL-3 SGL rating.

The following summarizes the ratings activity:

Outlook Actions:

Issuer: Callon Petroleum Company

Outlook, Remains Stable

Issuer: Carrizo Oil & Gas, Inc.

Outlook, Changed To Rating Withdrawn From Stable

Affirmations:

Issuer: Callon Petroleum Company

Probability of Default Rating, Affirmed B1-PD

Corporate Family Rating, Affirmed B1

Senior Unsecured Notes, Affirmed B2 (LGD5)

Withdrawals:

Issuer: Carrizo Oil & Gas, Inc.

Probability of Default Rating, Withdrawn, previously rated B1-PD

Speculative Grade Liquidity Rating, Withdrawn, previously rated
SGL-3

Corporate Family Rating, Withdrawn, previously rated B1

RATINGS RATIONALE

Callon's B1 CFR reflects its scale, improving credit metrics and
recent track record of growing production and reserves. Following
the Carrizo acquisition, Callon has larger and more diversified
operations focused on two shale plays in the Permian Basin and the
Eagle Ford Basin. The acquisition has increased Callon's average
daily production to over 107Mboe/d (on a pro forma basis as of Q3
2019). The Permian Basin acreage is in the early stages of
development and will require significant capital to develop, while
the acquired Eagle Ford assets, which are also predominately oil
producing assets, generate positive free cash flow.

Callon maintains a conservative financial policy, as evidenced by
the meaningful portion of equity funding of acquisitions. The
equity-funded Carrizo acquisition has boosted Callon's scale,
reserves, drilling inventory and cash flows, while modestly
improving its leverage (as measured by retained cash flow to debt).
Moody's expects Callon to focus on achieving operational
efficiencies and synergies as it integrates the Carrizo business
and develops its assets. The company's margins have benefitted from
its competitive unit costs as well as the high proportion of oil in
its production volumes.

Callon's senior unsecured notes (including the notes due 2023 and
notes due 2025 that were issued by Carrizo and became obligations
of Callon following the close of the merger) are rated B2, one
notch lower than the B1 CFR. The unsecured notes are contractually
subordinated to the borrowings under the secured revolving credit
facility, which is large ($2 billion in commitments) relative to
the $1.9 billion of notes. Moody's believes the B2 ratings on the
unsecured notes are more appropriate than the rating suggested by
Moody's Loss Given Default (LGD) methodology. If the amount of
revolver debt relative to the unsecured debt increases, the notes
could be downgraded.

Callon's SGL-2 rating reflects its good liquidity, supported by
cash flow from operations, modest cash balances, as well as
Callon's new upsized revolver ($2 billion of commitments). There
was $700 million available on the revolver when the merger closed
in December 2019, and $1.3 billion drawn. The revolver has two
financial covenants - a minimum current ratio of 1x and a maximum
leverage ratio of 4x. Moody's expects Callon to remain in
compliance with these covenants through 2020. Callon has no
upcoming debt maturities until 2023.

The stable outlook reflects Moody's expectation that Callon's
credit metrics will improve and that Callon will generate modest
positive free cash flow in 2020-21. The ratings could be upgraded
if Callon successfully integrates Carrizo's operations, it realizes
synergies from the merger, debt to average daily production falls
towards $20,000, and RCF/debt is maintained above 40%. The ratings
could be downgraded if RCF/debt falls below 25%, capital efficiency
weakens significantly, or if debt to average daily production
remains above $30,000 for an extended period of time.

The principal methodology used in these ratings was Independent
Exploration and Production Industry published in May 2017.

Callon Petroleum Company, headquartered in Houston, TX is an
independent exploration and production company with operations in
the Permian Basin and the Eagle Ford Shale in Texas.


CARDINAL HOMES: Seek Authorization to Use Cash Collateral
---------------------------------------------------------
Cardinal Homes, Inc. and Alouette Holdings, Inc., seek
authorization from the U.S. Bankruptcy Court for the Eastern
District of Virginia  to use cash collateral to fund the operation
of their businesses.

Newtek Small Business Finance, LLC asserts that, as of the Petition
Date, there was due under the Newtek Notes, principal, accrued
interest, fees and charges of approximately $4.5 million. Newtek's
claims against the Debtors under the Newtek Notes are secured by,
among other things, a security interest and lien in, to and
against, among other things, all of the Debtors' personal
property.

The Debtors are also indebted to PIRS Capital, LLC pursuant to that
certain Merchant Agreement in the amount of $140,557, secured by
all of the Debtors' accounts, chattel paper, documents, equipment,
general intangibles, instruments and inventory and all proceeds
thereof.

The Debtors are indebted to Kituwah, LLC in the aggregate amount of
$300,000 in connection with two loans evidenced by: (i) Promissory
Note in the principal amount of $250,000; and (ii) Promissory Note
in the principal amount of $50,000.  The Kituwah PrePetition Notes
are secured by, among other things, all of the Debtors' accounts,
as-extracted collateral, chattel paper, deposit accounts, cash,
cash equivalents, securities accounts and commodity accounts,
documents, equipment, fixtures, general intangibles, all other
personal property of the Debtors and all proceeds and products of
all of the foregoing, including without limitation, all insurance
proceeds, products, accessions, rents and profits of any and all of
the foregoing.

Kituwah consents to the Debtors' use of Cash Collateral so long as:
(i) those expenses are within a 10% variance of the expenses, in
the aggregate and on a cumulative basis; and (ii) Cardinal grants
to Kituwah a replacement lien in and to, to the extent of the
diminution in the value of the Kituwah Personal Property
Collateral, a valid, second-priority perfected and enforceable
Replacement Lien in and upon all assets of the same type as the
Kituwah Personal Property Collateral which are or have been
acquired, generated, or received by Cardinal after the Petition
Date to the same, extent, nature and priority held by Kituwah by
virtue of the Kituwah Pre-Petition Loan Documents (but not
including claims or causes of action arising solely under
Bankruptcy Code sections 544, 547, 548 and 553).

The Debtors also propose to: (i) provide a first-priority
replacement lien postpetition to Newtek in and upon all assets of
the same type as the Newtek Pre-Petition Collateral which are or
have been acquired, generated, or received by Cardinal after the
Petition Date and first position liens, with only the exception of
liens of Kituwah granted in connection with the Interim DIP Orders,
in any and all sale proceeds received in connection with any sale
of any kind or nature of the Debtors' real and/or personal
property, superior to and satisfied in full before any and all
other liens against such real or personal property and the proceeds
therefrom; and (ii) provide a second-priority replacement lien
postpetition to Kituwah in and upon all assets of the same type as
the Kituwah Pre-Petition Collateral which are or have been
acquired, generated, or received by Cardinal after the Petition
Date.

                     About Cardinal Homes

Cardinal Homes, Inc. -- https://www.cardinalhomes.com/ --
manufactures made-to-order, modular building components for a
growing client list of building contractors engaged in residential
and light commercial construction projects.

Cardinal Homes sought Chapter 11 protection (Bankr. E.D. Va. Case
No. 19-36275) on December 2, 2019 in Richmond, Virginia.  In the
petition signed by Bret A. Berneche, CEO, the Debtor listed between
$1 million and $10 million in both assets and liabilities.   

Cardinal Homes was formed in 1970 and is a wholly-owned subsidiary
of Alouette Holdings, Inc., a debtor in Chapter 11 Case No.
19-36126-KRH, pending in the U.S. Bankruptcy Court for the Eastern
District of Virginia.

Judge Kevin R. Huennekens is assigned to the case.  Whiteford
Taylor & Preston, LLP is the Debtor's counsel.  American Legal
Claim Services, LLC is the Debtor's notice, claims & balloting
agent.


CENTENNIAL HOTEL: Employs John A. Hammerland as Accountant
----------------------------------------------------------
Centennial Hotel, LLC asks for authorization from the U.S.
Bankruptcy Court for the District of Colorado to employ John A.
Hammerland, Jr., P.C. to provide professional accounting services
for the Debtor.

The Debtor is a Colorado limited liability company that owns a
120-room hotel in Englewood, Colorado, operating as a Ramada
Franchise.

The professional services to be provided by the Accountant include:


     (a)  preparing the Debtor's financial statements;

     (b)  assisting the Debtor in completing monthly operating
reports and other necessary documents;

     (c)  preparing federal and state tax returns, and any
accounting services that the Debtor requires; and

     (d)  if necessary, assisting the Debtor in preparing a Plan
and Disclosure Statement.

According to the Debtor, it is necessary to hire an accountant
because the Debtor must remain in compliance with various
provisions of the Internal Revenue Code and Bankruptcy Code, and
professional services are required to perform this work.

John A. Hammerland, Jr. will be the primary person in charge of
providing services to the Debtor.

The Accountant will bill at an hourly rate based on the services
rendered.  The Accountant's fees will be $225 per hour for income
tax return preparation services, $185 per hour for financial
statement preparation and income tax and accounting advisory
services and $115 per hour for accounting services. Out-of-pocket
expenses related to tax return preparation software costs estimated
at $125-$150 will also be billed as incurred.

The Accountant is disinterested as defined by 11 U.S.C. section
101(14) and does not have an interest materially adverse to the
interest of the Debtor, its estate or its creditors.

The accounting firm may be reached at:

     John A. Hammerland, Jr., P.C.
     10881 W. Asbury Avenue, #235
     Lakewood, CO 80227

                  About Centennial Hotel, LLC

Centennial Hotel, LLC, a privately held company in the hotel and
motel business, filed its voluntary Chapter 11 petition (Bankr. D.
Colo. Case No. 19-20694) on Dec. 17, 2019. In the petition signed
by Gregory G. Fulton, managing member of GGF, LLC, the Debtor
estimated $1 million to $10 million in both assets and liabilities.
Lee M. Kutner, Esq. at Kutner Brinen, P.C., is the Debtor's legal
counsel.



CHARLENE CORP: Feb. 12, 2020 Disclosure Statement Hearing Set
-------------------------------------------------------------
On Dec. 2, 2019, debtor Charlene Corporation filed with the U.S.
Bankruptcy Court for the District of Maryland, at Greenbelt, a
Disclosure Statement and Plan.

On Dec. 26, 2019, Judge Thomas J. Catliota ordered that:

  * Feb. 12, 2020, at 10:30 a.m.. is the hearing to consider the
approval of the Disclosure Statement to be held in Courtroom 3E of
the U.S. Bankruptcy Court, U.S. Courthouse, 6500 Cherrywood Lane,
Greenbelt, Maryland 20770.

  * Jan. 31, 2020, is fixed as the last day for filing and serving
in accordance with Federal Bankruptcy Rule 3017(a) written
objections to the Disclosure Statement.

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

The Debtor is represented by:

      Michael S. Woll
      Woll and Woll, P.A.
      4405 East West Hwy, Suite 201
      Bethesda, MD 20814

                   About Charlene Corporation

Charlene Corporation is in the retail business of gold and jewelry
sales, and operates its business exclusively within leased space
located at the Langley Park Plaza Shopping Center, 7923 New
Hampshire Ave., Hyattsville, MD20783.  It is solely owned by Ms.
Xuan Hoang T. Nguyen, (Ms. Nguyen) who has solely owned the
business since 2015.

Based in Hyattsville, Maryland, Charlene Corporation sought Chapter
11 protection (Bankr. D. Md. Case No. 19-22991) on Sept. 30, 2019,
listing under $1 million in both assets and liabilities. Michael S.
Woll, Esq. at Woll & Woll, P.A. represents the Debtor.   


CHICK LUMBER: Interim Cash Access Thru April 10 Okayed
------------------------------------------------------
Judge Bruce A. Hardwood authorized Chick Lumber, Inc., to use cash
collateral of up to $1,637,716.89 during the period between Jan. 1,
2020 and April 10, 2020.  

The Debtor is directed to make the following adequate protection
payments on the last day of each month:
    * $481.70 to JELD-WED, Inc.;
    * $24.66 to BFG Corporation (H2H NC Paint Tinter);
    * $77.86 to BFG Corporation (H2H Windham Paint Tinter)
    * $37.83 to GreatAmerica Financial Services Corp.;
    * $219.06; $226.60 and $211.94 to Citizens One Auto Finance;
    * $39.52 to Wells Fargo Equipment Finance, Inc. - Forklift;
    * $632.68 to Ford Motor Credit;
    * $63.25 to Wells Fargo Equipment Finance, Inc. - Moffett
Machine;
    * $82.22 to Hitachi Capital Financial; and
    * $6,215.28 to an escrow account for Citizens Financial Group,
Inc., and American Express Bank, FSB.

Given the dispute between the Debtor, RBS Citizen and Amex FSB, the
Debtor's counsel, who acts as the escrow agent, will deposit with
Citizens Bank, N.A., or another banking institution each App Escrow
Payment in a non-interest bearing IOLTA account in the name of the
escrow agent, as escrow agent for the benefit of RBS Citizen, Amex
Bank and the Debtor.

Further hearing on the motion will be held on April 8, 2020 at 2
p.m.  Objections are due by April 1, 2020.

A copy of the interim order is available at https://is.gd/jMbM9M
from PacerMonitor.com free of charge.

                         About Chick Lumber

Chick Lumber, Inc. -- https://www.chicklumber.com/ -- is a dealer
of lumber, plywood, steel beams, engineered wood, trusses, steel
and asphalt roofing, windows, doors, siding, trim, stair parts, and
finish materials.  The Company also offers drafting & design,
installation, delivery, outside sales, and plan reading &
estimating services.

Chick Lumber sought Chapter 11 protection (Bankr. D.N.H. Case No.
19-11252) on Sept. 9, 2019, in Concord, New Hampshire.  In the
petition signed by Salvatore Massa, president, the Debtor disclosed
between $1 million and $10 million in both assets and liabilities.
Judge Bruce A. Harwood oversees the case.  William S. Gannon PLLC
is the Debtor's counsel.


CHICKENONTHE RUN: To Seek Plan Confirmation Jan. 27
---------------------------------------------------
Judge Stacy G Jernigan has ordered that the Disclosure Statement
explaining the Chapter 11 Plan of Reorganization filed by
Chickenonthe Run, Inc., is conditionally approved.

Jan. 27, 2020 at 9:30 a .m. is fixed for the hearing on
confirmation of the Plan and final approval of the Disclosure
Statement in the Court room of the Honorable Stacy G Jernigan, 1100
Commerce Street, 14th Floor, Dallas, Texas.

Jan. 22, 2020 is fixed as the last day for filing and serving
pursuant to Fed. R. Bankr. P. 3020(b)(1) written objections to
confirmation of the Plan or the Disclosure Statement.

Jan. 22, 2020 is fixed as the last day for filing and serving
pursuant to Rule 3020(b)(1) written acceptances or rejections of
the Plan in the form of a ballot.

                     About Chickenonthe Run

Chickenonthe Run, Inc., operates Hall's HoneyFried Chicken, which
was founded in 1989 and is a spinoff of Dallas most famous chicken
family, the Henderson family. The owner, John Hall's grandfather
founded Henderson's Chicken Shack in 1948. Hall's Honey Fried
Chicken operated from 1992 until September 2014 in a location close
to the current location until the old location was forced to close
due to building structural issues.  It found a new location
approximately 1.5 miles from the old location, however, due to
numerous delays the Debtor was unable to reopened on September
2016.

Based in DeSoto, Texas, Chickenonthe Run, Inc., filed its 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.


CHRISTOPHER G. COMBS: Jason A. Burgess Tapped as Gen. Counsel
-------------------------------------------------------------
Christopher G. Combs Enterprise seeks permission from the U.S.
Bankruptcy Court for the Middle District of Florida to employ Jason
A. Burgess to represent the Debtor as general counsel in this
Chapter 11 bankruptcy case.

The Debtor needs Jason A. Burgess to:

     a.  give advice to the Debtor with respect to its powers and
duties as debtor-in-possession and the continued management of its
business;

     b.  advise the Debtor with respect to its responsibilities in
complying with the US Trustee's Operating Guidelines and Reporting
Requirements and with the Local Rules of this Court;

     c.  prepare motions, pleadings, orders, applications,
disclosure statements, plans of reorganization, commence adversary
proceedings, and prepare other such legal documents necessary in
the administration of this case;

     d.  protect the interest of the Debtor in all matters pending
before the Court; and

     e.  represent the Debtor in negotiations with their creditors
and in preparation of the disclosure statement and plan of
reorganization.

Jason A. Burgess attests that the Firm has no connection with the
creditors or other parties in interest; and does not represent any
interest adverse to the Debtor.

Prior to the Petition Date, the Debtor and Jason A. Burgess agreed
to a minimum fee of $2,500 for representation, subject to Court
approval, in this Chapter 11 bankruptcy case.  The amount has been
paid and Jason A. Burgess acknowledges its receipt, and that
$1,717.00 was paid on behalf of the Debtor for filing fee required
to commence this Chapter 11 bankruptcy case.

Hourly rate for attorney services is $335.00 per hour, and
paralegal time at $75.00 per hour.

The firm may be reached at:

     Jason A. Burgess, Esq.
     The Law Offices of Jason A.  Burgess, LLC
     1855 Mayport Road
     Atlantic Beach, FL 32233
     Tel: (904) 372-4791
     Fax: (904) 372-4994

              About Christopher G. Combs Enterprise

Christopher G. Combs Enterprise filed a voluntary Chapter 11
petition (Bankr. M.D. Fla. Case No. 19-04717) on December 12, 2019,
and is represented by Jason A. Burgess, Esq. at The Law Offices of
Jason A.  Burgess, LLC.  The Debtor reported under $1 million in
both assets and liabilities.



CLINTON NURSERIES: Varilease Finance to Have $500K Secured Claim
----------------------------------------------------------------
Clinton Nurseries, Inc., Clinton Nurseries of Maryland, Inc.,
Clinton Nurseries of Florida, Inc., and Triem LLC filed a Second
Modified First Amended Joint Plan of Reorganization.

The Modified Plan provides that the initial funding for the CN
Trust, the trust established for creditors on the Effective Date in
accordance with the Plan, is $200,000, to be funded by the Debtors
(a) $100,000 on the Effective Date and (b) $100,000 on or before
June 1, 2020.  The CN Trust Assets will comprise of avoidance
actions, the CN Trust Initial Cash and all other cash distributed
to the CN Trust by the Debtors pursuant to the terms of the Plan.

The Plan contemplates an "Unsecured Claim Annual Payment" of
$200,000 for unsecured creditors, to paid by the Debtors on June 1
of each year following the Effective Date for 10 years (June 1,
2020 through June 1, 2029).  Unsecured creditors will also receive
their pro rata share of net proceeds from any avoidance actions of
a Debtor against which such holder has a claim. Warren/Ann
Richards, which hold claims filed against CNI, CNF and CNM in the
amount of $4,780,661, will not receive any share of the net
proceeds from any avoidance actions.

The Second Modified First Amended Plan provides that Varilease
Finance Inc. will have an allowed secured claim of $500,000 against
CNI and CNM.

In full and final satisfaction and release of the Varilease Finance
Allowed Secured Claim Amount:

  i. Varilease Finance, Inc. shall retain any Liens on, and
ownership interest in, the Varilease Finance Collateral that
Varilease Finance, Inc. held, as of the Petition Date.  Varilease
Finance, Inc., will not retain any liens on real or personal
property of the Debtors or ownership interest in any real or
personal property in the possession of the Debtors, other than the
Varilease Finance Collateral.  The Debtors, the Committee and BOW
make no admission as to the validity, priority or extent of any
lien asserted by or ownership interest of Varilease Finance, Inc.
in the Varilease Finance Collateral.

ii. The Allowed Secured Claim Amount of Varilease Finance, Inc.
may be satisfied through the timely payment, by CNI and CNM to
Varilease Finance, Inc., of the Varilease Finance Incentive Amount
plus interest on the Varilease Finance Incentive Amount at the rate
of 7.5 percent per annum.  The principal amount of the Varilease
Finance Incentive Amount will be paid in seven equal annual
payments ($46,428.57 each) on June 1 of each year, commencing on
June 1, 2020, through and including June 1, 2026.  In addition,
each annual payment will include all interest accrued at the
foregoing rate on the then outstanding principal balance of the
Varilease Finance Incentive Amount.  For the avoidance of doubt, as
to the first payment due on June 1, 2020, a principal payment of
$46,428.57 will be made, together with a payment of interest,
calculated from the Effective Date to the date of payment, on the
full Varilease Finance Incentive Amount.  Thereafter, each annual
payment shall be equal to $46,428.57 plus all interest accrued from
the previous payment date through the date of payment on the then
outstanding principal balance of the Varilease Finance Incentive
Amount.  Upon timely payment in full of the Varilease Finance
Incentive Amount plus all accrued but unpaid interest as provided
herein, the Allowed Secured Claim Amount of Varilease Finance,
Inc., will be deemed satisfied in full. If the Allowed Secured
Claim Amount of Varilease Finance, Inc. is satisfied in full,
Varilease Finance, Inc. will contemporaneously release or discharge
any UCC liens, fixture filings and any other recorded encumbrances
which it holds against the Maryland Property (including any
fixtures thereto), and/or shall admit and stipulate that it does
not hold any lien on such property, and/or shall quitclaim or
otherwise transfer to the Debtors or BOW (depending upon who has
legal title to the Maryland Property at that time) any interest it
has in such property (the "Varilease Finance Discharges").

   iii. Any payment due to Varilease Finance, Inc. of the Varilease
Finance Incentive Amount which is not paid when due shall
constitute a default hereunder (a "Class 3 Payment Default").
Notice of a Class 3 Payment Default shall be given to the Debtors
via e-mail at DERichards@cngrp.com, to Debtors' counsel, Eric
Henzy, via e-mail and regular mail, and to counsel for BOW, William
B. Freeman, via email and regular mail (a "Notice of Class 3
Payment Default") (which Notice of Class 3 Payment Default shall be
deemed sufficient for all purposes) after which CNI and CNM and BOW
shall have a period of 30 days after receipt of the Notice of a
Class 3 Payment Default, to cure the Class 3 Payment Default.  If a
Class 3 Payment Default is not cured within the requisite 30-day
period, then BOW will thereafter have an additional 15-day period
(such 45th day being the "Uncured Class 3 Payment Default Date") to
cure the Class 3 Payment Default.  If the Class 3 Payment Default
is not cured within this additional 15-day period after notice to
BOW, then the principal amount due to Varilease Finance, Inc.,
shall be the Allowed Secured Claim Amount of Varilease Finance,
Inc., less only those payments of principal having been received by
Varilease Finance, Inc., on the Varilease Finance Incentive Amount
prior to the Uncured Class 3 Payment Default Date (the "Adjusted
Allowed Secured Claim Amount").  From and after the Uncured Class 3
Payment Default Date: (A) interest shall accrue on the Adjusted
Allowed Secured Claim Amount of Varilease Finance, Inc., at the
above stated seven and one-half percent (7.5%) annual rate of
interest; and (B) the full Adjusted Allowed Secured Claim Amount
owing to Varilease Finance, Inc. hereunder shall be immediately due
and payable.  Varilease Finance, Inc., shall have the right to all
reasonable attorneys' fees and costs associated with the
enforcement and collection of the Adjusted Allowed Secured Claim
Amount of Varilease Finance, Inc., hereunder.

   iv. On or prior to the Uncured Class 3 Payment Default Date, the
Varilease Finance Incentive Amount may be prepaid in full and
retired, at any time by CNI and CNM or BOW, without a pre-payment
penalty, by payment by CNI and CNM or BOW to Varilease Finance,
Inc., of the then outstanding principal balance of the Varilease
Finance Incentive Amount, plus all accrued but unpaid interest
owing thereon.  By way of example, if CNI and CNM previously timely
paid Varilease Finance, Inc., the annual payments scheduled for
June 1 of 2020 and 2021 and no Uncured Class 3 Payment Default Date
has occurred thereafter, then CNI and CNM or BOW may then pay off
the Varilease Finance Incentive Amount in full by paying Varilease
Finance, Inc. $325,000.00 less the principal amount of the payments
made on June 1 of 2020 and 2021 plus any accrued but unpaid
interest.  If the Varilease Finance Incentive Amount is pre-paid in
full and retired, Varilease Finance, Inc., will contemporaneously
deliver to Debtors or BOW (depending upon who owns the Maryland
Property at that time) the Varilease Finance Discharges. v. In
connection with, and at the time of closing on, any sale,
refinance, or other disposition of the Maryland Property on or
after April 1, 2023 (the "Date of Closing"), Varilease Finance,
Inc. shall contemporaneously deliver to Debtors or BOW (depending
upon who owns the Maryland Property at that time) the Varilease
Finance Discharges.  Varilease Finance, Inc., shall only be
obligated to deliver the Varilease Finance Discharges, if no
Uncured Class 3 Payment Default Date has occurred prior to the Date
of Closing. If an Uncured Class 3 Payment Default Date has occurred
prior to the Date of Closing which is not timely cured by Debtors
or BOW in accordance with the timetable set forth in sub-section
(iii) above, then Varilease Finance, Inc. shall only be obligated
to deliver the Varilease Finance Discharges if the then remaining
unpaid Adjusted Allowed Secured Claim Amount, together with all
accrued but unpaid interest and all reasonable attorneys' fees of
Varilease Finance, Inc., are paid in full and all Disputed Matters
(as that term is defined in Subsection vi below) pending against
Varilease Finance, Inc. are dismissed with prejudice and without
costs as to Varilease Finance, Inc. (at which time Varilease
Finance shall simultaneously dismiss with prejudice and without
costs all Disputed Matters asserted by Varilease Finance, Inc.).
For the avoidance of doubt, payoff of the then remaining balance of
the Varilease Finance Incentive Amount shall not be required or a
condition to Varilease Finance, Inc.'s obligation to execute and
deliver the Varilease Finance Discharges on the Date of Closing as
long as no Class 3 Event of Default is outstanding as of the Date
of Closing.

A full-text copy of the Second Modified First Amended Joint Plan of
Reorganization dated Dec. 18, 2019, is available at
https://tinyurl.com/t6pxr6p from PacerMonitor.com at no charge.

Counsel for the Debtors:

    Eric Henzy
    ZEISLER & ZEISLER, P.C.
    10 Middle Street, 15th Floor
    Bridgeport, CT 06604
    Tel: (203) 368-4234
    E-mail: ehenzy@zeislaw.com

                    About Clinton Nurseries

Founded in 1921, Clinton Nurseries, Inc., operates nurseries that
produce ornamental plants and other nursery products. The company
grows trees, flowering shrubs, roses, ornamental grasses & ground
covers, perennials, annuals, herbs and vegetables.  Clinton
Nurseries is based in Westbrook, Connecticut.

Clinton Nurseries and its affiliates sought Chapter 11 protection
(Bankr. D. Conn. Case No. 17-31897) on Dec. 18, 2017.  David
Richards, president, signed the petition.  The cases are jointly
administered under Case No. 17-31897.  At the time of filing,
Clinton Nurseries has estimated assets and liabilities at $10
million to $50 million.

Judge James J. Tancredi oversees the cases.  

Zeisler & Zeisler, P.C., is the Debtors' legal counsel.

The U.S. Trustee for Region 2 appointed an official committee of
unsecured creditors. The committee tapped Green & Sklarz LLC as its
legal counsel.


CLU AMBOY: Unsecureds' Recovery to Rely on Avoidance Suits
----------------------------------------------------------
Debtor CLU Amboy, LLC, filed a Fifth Amended Disclosure Statement
describing its Plan of Liquidation.

The Debtor's assets consist of cash in the amount of $200,000.  The
Liquidating Trustee will investigate any causes of action,
including but not limited to, insiders.  Without any recovery from
any causes of action there will not be any more funds in the
Debtor's estate.  There are no preference actions to pursue in the
Debtor's estate.

The Plan will be funded from the $200,000 proceeds of the Sale and
any other cash, if any, generated by pursuit and recovery and
collection of avoidance actions.  UGI HVAC, alleges that if it
holds a valid claim against sale proceeds, however, if UGI HVAC
does not, or if it does, and the administrative expenses claimants
are successful on an 11 U.S.C. Sec. 506(c) carve-out claim,
distribution may be tendered to administrative expenses.

General unsecured creditors are impaired and entitled to vote on
the Plan.  If avoidance actions are not recovered unsecured
creditors are not anticipated to receive a distribution.  That
said, however, the Debtor has filed an adversary proceeding against
UGI HVAC and it seeks compensatory damages.

A full-text copy of the Fifth Amended Disclosure Statement dated
Dec. 24, 2019, is available at https://tinyurl.com/vb8ngf6 from
PacerMonitor.com at no charge.

                    About Clu Amboy LLC

Clu Amboy, LLC, was formed as a limited liability company in New
Jersey on Sept. 30, 2013.  It owned a storage facility located at 1
Amboy Avenue, Woodbridge, New Jersey 07095, which was its sole
tangible asset. It also uses the trade name Amboy Cold Storage.
All of its income was derived from leases and contract service
agreements for storage space at the facility.

On Oct. 25, 2017, CLU Amboy sought Chapter 11 protection (Bankr.
D.N.J. Case No. 17-31647).

The Debtor is represented by:

         McMANIMON, SCOTLAND & BAUMANN, LLC
         75 Livingston Avenue, Suite 201
         Roseland, NJ 07068
         Tel: (973) 622-1800
         Anthony Sodono, III
         Sari B. Placona
         E-mail: asodono@msbnj.com
                 splacona@msbnj.com


COCOA EXPO: Asks Leave to Use Cash Collateral
---------------------------------------------
Cocoa Expo Sports Center, LLC asked permission from the Bankruptcy
Court to use cash collateral to pay ordinary and necessary expenses
based on the budget.  The budget provides for $60,744 in total
expenses for the month of January 2020, including $35,050 in
payroll, $7,890 in insurance and $4,700 in utilities.  A copy of
the budget is available at https://is.gd/DpcFqe from
PacerMonitor.com at no charge.  

As of the Petition Date, the Debtor had cash in the approximate
amount of $7,144.96.  Average monthly revenue is approximately
$109,000.

Creditors who may assert claims secured by substantially all of the
Debtor's property, including cash collateral, are (a) Bank of
Washington for $13,831,447.80, (b) UDF XIV SPE B, LLC for
$3,098,280 and (c) Urban Development Fund XXIII for $7,229,320.

The Debtor contends that the secured creditors' interests will be
adequately protected by, among others, lien on cash collateral
after the Petition Date to the same extent and with the same
validity and priority as the lien held by the secured creditors
prior to the Petition Date.

A copy of the motion is available for free at https://is.gd/cP7XeL
from PacerMonitor.com free of charge.

                 About Cocoa Expo Sports Center

Cocoa Expo Sports Center, LLC -- http://www.cocoaexpo.com-- is a
Florida limited liability company formed in 2011.  It owns a sports
complex located at 500 Friday Road, Cocoa, FL 32926 known as
Coastal Florida Sports Park.  The Sports Complex consists of more
than 50 acres.  The Sports Complex serves as a venue for youth
athletic games, high school events, college sporting events, and
college and professional recruiting.  The Debtor previously sought
bankruptcy protection on Jan. 23, 2017 (Bankr. M.D. Fla. Case No.
17-00441).

On Nov. 5, 2019, UDF XIV SPE B, LLC; Urban Development Fund and
Deego Productions, Inc., filed an involuntary Chapter 11 petition
with respect to the company (Bankr. M.D. Fla. Case No. 19-07295) in
Orlando, Florida.  Akerman LLP represents the petitioners.       

An order for relief was entered on Dec. 11, 2019.  

The Court entered an order terminating Debtor's exclusive right to
file a plan.

Bank of Washington has filed a motion requesting: (a) dismissal of
the case; (b) stay relief; or (c) abstention.



COCOA EXPO: May Use Cash Collateral Thru Jan. 27
------------------------------------------------
According to Court dockets, Judge Karen Jennemann authorized the
Debtor's use of cash collateral on a preliminary basis to January
27, 2020.  

Hearing on the motion is continued to January 27, 2020 at 1 p.m.  

                 About Cocoa Expo Sports Center

Cocoa Expo Sports Center, LLC -- http://www.cocoaexpo.com/-- is a
Florida limited liability company formed in 2011.  It owns a sports
complex located at 500 Friday Road, Cocoa, FL 32926 known as
Coastal Florida Sports Park.  The Sports Complex consists of more
than 50 acres.  The Sports Complex serves as a venue for youth
athletic games, high school events, college sporting events, and
college and professional recruiting.  The Debtor previously sought
bankruptcy protection on Jan. 23, 2017 (Bankr. M.D. Fla. Case No.
17-00441).

On Nov. 5, 2019, UDF XIV SPE B, LLC; Urban Development Fund and
Deego Productions, Inc., filed an involuntary Chapter 11 petition
with respect to the company (Bankr. M.D. Fla. Case No. 19-07295) in
Orlando, Florida.  Akerman LLP represents the petitioners.       

An order for relief was entered on Dec. 11, 2019.  

The Court entered an order terminating Debtor's exclusive right to
file a plan.

Bank of Washington has filed a motion requesting: (a) dismissal of
the case; (b) stay relief; or (c) abstention.


COMPASS GROUP: Moody's Raises CFR to B3, Outlook Stable
-------------------------------------------------------
Moody's Investors Service upgraded Compass Group Diversified
Holdings LLC's Corporate Family Rating to Ba3 from B1 and
Probability of Default Rating to Ba3-PD from B1-PD. Concurrently,
Moody's upgraded the senior secured revolving credit facility
rating to Ba2 from Ba3 and the senior unsecured notes rating to B2
from B3. The Speculative Grade Liquidity rating remains SGL-1. The
outlook is stable. This concludes the review for upgrade that was
initiated on 26 November 2019, following the announcement of a
preferred equity issuance and repayment of the term loan on 21
November 2019.

The upgrade reflects Compass' strengthened balance sheet following
the repayment of $299 million term loan and management's public
commitment to a more conservative financial policy that targets
leverage of 2.5x to 3x (as per the credit agreement). It also
reflects Moody's expectations that the company will pursue a
prudent acquisition strategy while maintaining financial
flexibility and moderate leverage below 4x Moody's adjusted
debt-to-EBITDA.

Upgrades:

Issuer: Compass Group Diversified Holdings LLC

Probability of Default Rating, Upgraded to Ba3-PD from B1-PD

Corporate Family Rating, Upgraded to Ba3 from B1

Senior Secured Bank Credit Facility, Upgraded to Ba2 (LGD2) from
Ba3 (LGD3)

Senior Unsecured Regular Bond/Debenture, Upgraded to B2 (LGD5) from
B3 (LGD5)

Outlook Actions:

Issuer: Compass Group Diversified Holdings LLC

Outlook, Changed To Stable From Rating Under Review

RATINGS RATIONALE

Compass' Ba3 CFR is supported by moderate leverage of 2.4x
debt-to-EBITDA, solid industry and product diversification
resulting from its controlling ownership in eight businesses, and
very good liquidity. It also reflects a publicly stated commitment
to a more conservative financial policy and Moody's expectations
that the company will maintain debt-to-EBITDA below 4x. The rating
remains constrained by the company's policy of distributing the
majority of its operating cash flow to shareholders and the
expectation for future debt funded acquisitions, specifically
platform purchases of material size as opposed to bolt-ons, that
could temporarily increase leverage above the stated target.
However, if that were to occur Moody's expects the company to
deleverage in relatively short order, either via the issuance of
additional equity or sale of a business.

The stable outlook reflects Moody's expectations that Compass will
sustain debt-to-EBITDA below 4x over the next 12 months. Moody's
expects Compass to continue to distribute most of its cash flow to
shareholders and pursue add-on acquisitions over the next 12
months, but remain committed to debt reduction following such
acquisitions.

The SGL-1 reflects Compass' very good liquidity supported by a cash
balance of about $50 million, full availability under its $600
million revolving credit facility and access to alternate liquidity
sources.

Moody's could downgrade the ratings if the company revises its
business strategy and targets acquisitions that do not have stable
cash flow or if Compass significantly increases debt to fund a
distribution or share repurchase. Quantitatively, this could be
represented by debt-to-EBITDA approaching 4x, and/or
EBIT-to-interest below 2x.

Although not likely in the near term, Moody's could upgrade the
ratings if Compass demonstrates steady revenue growth, while
maintaining debt-to-EBITDA below 2.5x and free cash flow to debt
above 10%.

The principal methodology used in these ratings was Consumer
Durables Industry published in April 2017.

Compass Group Diversified Holdings LLC is a publicly traded company
(NYSE: CODI) that holds majority ownership interests in eight
distinct operating subsidiaries including 5.11 Tactical, Velocity
Outdoor (formerly Crosman), Advanced Circuits, Sterno Group, Arnold
Magnetics, Liberty Safe, Ergobaby, and Foam Fabricators. Compass'
strategy is to acquire and manage businesses that operate in
industries with long term macroeconomic growth opportunities, are
expected to have positive and stable cash flows, face minimal
threat of technological and competitive obsolescence, and have
strong management teams in place. Pro-forma for the divestitures of
Clean Earth and Manitoba Harvest, the company generated about $1.4
billion of revenue for the twelve month period ending September 30,
2019.


CORAL-US CO-BORROWER: Moody's Rates New $1.3-Bil. Term Loan 'Ba3'
-----------------------------------------------------------------
Moody's Investors Service assigned a Ba3 rating to the proposed
USD1.3 billion senior secured term loan due January 2028, with
CORAL-US CO-BORROWER LLC as borrower, which proceeds will be used
to partially repay the existing USD1.64 billion term loan B-4 due
January 2026 and cover transaction cost. The Ba3 corporate family
rating of Cable & Wireless Communications Limited, Coral-US's
ultimate parent company, and the ratings of the other debt
instruments within the group remain unchanged. All outlooks are
stable.

The following rating action was taken:

Assignment

Issuer: CORAL-US CO-BORROWER LLC

Gtd Senior Secured Term Loan B-5, Assigned Ba3

RATINGS RATIONALE

The transaction consists of a new eight-year USD1.3 billion senior
secured term loan due January 2028, which proceeds will be used to
partially repay the existing USD1.64 billion senior secured term
loan B-4 due January 2026 and cover transaction cost. The
refinancing is leverage neutral and will extend average debt life.

The Ba3 rating on the new senior secured term loan considers that
it is pari passu with the existing senior secured term loan B-4 and
the existing USD400 million senior secured notes issued by Sable
International Finance Limited, both rated Ba3. The new term loan
benefits from the same guarantees as the existing term loan B-4 and
is similarly secured by share pledges over the guarantors.

CWC's Ba3 corporate family rating reflects its effective business
model, strong profitability and leading market positions throughout
the Caribbean and Panama. At the same time, the rating also takes
into consideration the company's large exposure to emerging
economies, increased competitive pressures in some of its largest
markets and its high leverage for the Ba3 rating category.

The stable outlook on CWC's rating reflects Moody's expectations
that the company's revenue will grow modestly in the next 12-18
months, with its adjusted EBITDA margin (including Moody's
adjustments) maintained in the high thirties in percentage terms
and its liquidity remaining at least adequate. The outlook also
incorporates slightly positive free cash flow for the next 12-18
months and a gradual decline in adjusted debt/EBITDA.

A rating upgrade could be considered if more conservative financial
policies lead to deleveraging to under 2.5x (adjusted debt/EBITDA)
on a consolidated basis, while maintaining a stable adjusted EBITDA
margin and generating strong positive free cash flow, all on a
sustained basis.

CWC's ratings could be downgraded if (1) the company's adjusted
debt/EBITDA remains over 4.0x (on a consolidated basis) on a
sustained basis; (2) its adjusted EBITDA margin declines toward 35%
on a sustained basis; (3) the company's market shares decline or
its liquidity position weakens; (4) it makes a large cash
distribution to its parent company.

The principal methodology used in these ratings was
Telecommunications Service Providers published in January 2017.

CWC is an integrated telecommunications provider offering mobile,
broadband, video, fixed-line, business, IT and wholesale services
in Panama, Jamaica, the Bahamas, Trinidad and Tobago, Barbados and
other markets in the Caribbean. In the 12 months to September 2019,
the company generated revenue of USD2.3 billion. CWC is a
subsidiary of Liberty Latin America Ltd., which was split off from
Liberty Global plc (Ba3 stable) in December 2017 and is listed on
the NASDAQ.


CRIMSON REALTY: Seeks to Hire Offit Kurman as Counsel
-----------------------------------------------------
Crimson Realty, LLC, seeks authority from the U.S. Bankruptcy Court
for the District of New Jersey to employ Offit Kurman, P.A., as
counsel to the Debtor.

Crimson Realty requires Offit Kurman to:

   (a) assist in the preparation and filing of schedules of
       assets and liabilities, and statement of affairs;

   (b) represent the Debtor at the meeting of creditors and at
       status conferences with the U.S. Trustee;

   (c) represent the Debtor regarding requests for information
       and documents made by the trustee and creditors;

   (d) represent the Debtor regarding any motion for relief from
       stay, motion to avoid lien, motion to value collateral, or
       regarding the negotiation of any reaffirmation agreement;

   (e) assist in the preparation and filing of the disclosure
       statement and a plan of reorganization;

   (f) counsel the Debtor with regard to its rights and
       obligations; and

   (g) appear in Court to protect and promote the interest of the
       Debtor.

Offit Kurman 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.

Umar Sheikh, partner of Offit Kurman, 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.

Offit Kurman can be reached at:

     Umar Sheikh, Esq.
     Albena Petrakov, Esq.
     OFFIT KURMAN, P.A.
     99 Wood Avenue South, Suite 302
     Iselin, NJ 08830
     Tel: (732) 218-1800

                     About Crimson Realty

Crimson Realty, filed a Chapter 11 bankruptcy petition (Bankr.
D.N.J. Case No. 19-33273) on Dec. 16, 2019, disclosing under $1
million in both assets and liabilities.  The Debtor hired Offit
Kurman, P.A., as counsel.



DANICA ASSOCIATES: UST Says Cash Flow Insufficient
--------------------------------------------------
The United States Trustee for Region 21 submitted an objection to
the disclosure statement and proposed plan filed by Danica
Associates, LLC, Rynic, Inc., Branwell, Inc.

The U.S. Trustee points out in its objection that:

   * The disclosure statement fails to indicate if each store has a
manager or whether Ms. Weller is the manager for each location.

   * The disclosure statement should specifically state whether
Class 2 will be paid in a lump sum or monthly.

   * Based upon the monthly operating reports filed to date, the
Debtors appear to jointly have insufficient net cash flow to make
the proposed payments under the plan. Even with these infusions
from Ms. Weller, the combined average monthly net cash flow is
$970.08.  While this may ultimately be a confirmation issue, the
U.S. Trustee submits that the Debtors do not have sufficient funds
with which to make plan payments.

U.S. Trustee asserts that the Disclosure Statement fails to contain
sufficient information and projections relevant to the creditors'
decision to accept or reject the proposed plan.

                  About Danica Associates

Danica Associates, LLC, Rynic, Inc., and Branwell, Inc., sought
Chapter 11 protection (Bankr. S.D. Fla. Case No. 18-12476 to
18-12478) on March 2, 2018.  In the petitions signed by Rite K.
Weller, managing member, Danica and Rynic were each estimated to
have at least $50,000 in assets and $100,000 to $500,000 million
in
liabilities.  The cases are assigned to Judge Paul G. Hyman, Jr.
The Debtors are represented by David Lloyd Merrill, Esq., at
Merrill PA.


DAVE GIDDEON: Unsec. Creditors to Recover 6% in Amended Plan
------------------------------------------------------------
Small business debtor Dave Giddeon Truckinq LLC filed an Amended
Plan.

The Plan proposes to pay the priority claims of its Drivers, namely
Annas B. Faul, Bryan E. Russell, Cody D.Killian, and Derek Paulson,
the Class 1 creditors, the amount of their Allowed Claim in equal
monthly installmentsover 60 months at 5.75% interest.  The Plan
also proposes to pay the IRS and the Montana Department ofRevenue,
over 51 months at statutory rates of interest.

The Plan proposes to pay the Kubota Corporation, the Class 2
creditor, its Allowed Claim in equal monthly installments over 84
months with interest accruing at 5.75%.

The Plan proposes part liquidation and part reorganization.  The
Debtor proposes to liquidate a portion of its Personal Property
through sale and pay the Net Sale Proceeds to the Class 3 creditor.
The Class 3 will receive equal monthly installments on the Allowed
Secured Claim; provided, however, that beginning with the first
sale of Personal Property, and continuing thereafter, the monthly
installments will be recalculated on the Class 3 Balance over the
remaining Class 3 Term.

Non-priority unsecured creditors and general unsecured creditors
are classified as Class 4.  These creditors include unsecured
claims and the Deficiency claims of any secured creditor.  They
will receive a distribution of 6% of their allowed claims, pari
passu, on the amount of their Allowed Claims in equal monthly
installments over 60 months.  This Class includes the claims of
Three Rivers Bank, City Service Valcon, Montana Peterbilt, Internal
Revenue Service; First International Bank & Trust, B&R Repair,
Capital 90 Visa, Carquest, Chase Hawks Memorial, Chase Visa, Cross
Petroleum, Jordahl & Sliter, PLLC, Les Schwab Tire, Measure Law
Firm, DanMcGuire Trucking, and Polar Service Center; and Direct
Capital for the Deficiency, if any, after the Vis Wheel Polisher is
surrendered on or before the date of the Confirmation Order as
mutually agreed to by the parties.

Class 1 priority unsecured claims total $18,792.80.  The Class 2
secured claim of Kubota Corporation totals $10,326.11.  The Class 3
secured claim of Three Rivers Bank is $1,506,841.01.

A full-text copy of the First Amended Disclosure Statement dated
December 18, 2019, is available at https://tinyurl.com/vkkt4ug from
PacerMonitor.com at no charge.

                  About Dave Giddeon Trucking

Dave Giddeon Trucking LLC, a privately held trucking company in
Laurel, Montana, filed a Chapter 11 petition (Bankr. D. Mont. Case
No. 19-60475) on May 15, 2019. In the petition signed by Whitney S.
Giddeon, member, the Debtor was estimated to have $1 million to $10
million in both assets and liabilities.  James A. Patten, Esq., at
Patten Peterman Bekkedahl & Green, PLLC, serves as bankruptcy
counsel.


DIJA HOLDINGS: Court Approves Disclosure Statement
--------------------------------------------------
Judge Shon Hastings has ordered that the Third Amended Disclosure
Statement filed by DIJA Holdings, LLC, is approved.

That the hearing on confirmation of Debtor's Third Amended Plan of
Reorganization will be held by video conference on Tuesday, Jan.
28, 2020 at 2:00 p.m. in Courtroom 1, Fourth Floor, U.S. Courthouse
and Federal Building, Third and Rosser Avenue, Bismarck, North
Dakota.

If any objections are timely filed, the Debtor may file a written
response to the objections by Jan. 22, 2020.

Not later than Jan. 17, 2020, written objections to confirmation of
Debtor's Third Amended Plan of Reorganization must be filed and
served.

Ballots for acceptance or rejection of the Debtor's Third Amended
Plan of Reorganization must be mailed or electronically not later
than Jan. 17, 2020.

Attorney for the Debtor:

     Molly S. Considine
     Patten, Peterman, Bekkedahl & Green, PLL
     PO Box 1239
     Billings, MT 59103

                      About Dija Holdings

Dija Holdings, LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D.N.D. Case No. 19-30408) on July 18, 2019.
In the petition signed by Jason Gillen, managing member, Dija
Holdings was estimated to have assets of less than $500,000 and
liabilities of less than $1 million.  The case has been assigned to
Judge Shon Hastings.  Dija Holdings is represented by Patten,
Peterman, Bekkedahl & Green PLLC.

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


DYNALYST CORPORATION: Court Denies Cash Collateral Motion
---------------------------------------------------------
Judge Tony M. Davis denied the motion to use cash collateral filed
by Dynalyst Corporation for reasons stated on the record on the
Dec. 20, 2019 hearing.  

A copy of the order is available for free at https://is.gd/Swl0n4
from PacerMonitor.com.  

                   About Dynalyst Corporation

Dynalyst Corporation -- http://www.dynalyst.com/-- is a
manufacturing company distinctly purposed for the production of
custom ATE Interface Printed Circuit Boards (PCBs), fundamental to
the testing of integrated circuits. Dynalyst Corporation was
founded in early 2002 and is headquartered in Taylor, Texas.  The
Company previously filed for bankruptcy protection on July 2, 2018
(Bankr. W.D. Tex. Case No. 18-10860).

Dynalyst Corporation sought protection under Chapter 11 of the US
Bankruptcy Court (Bankr. W.D. Tex. Case No. 19-11635) on Dec. 1,
2019.  The petition was signed by T. Craig Takacs, president.  At
the time of filing, the Debtor estimated $1 million to $10 million
in both assets and liabilities.  Larry A. Vick, Esq., represents
the Debtor.





EAGLE ENTERPRISES: Seeks to Hire Tim J. Klace as Accountant
-----------------------------------------------------------
Eagle Enterprises, LLC, seeks authority from the U.S. Bankruptcy
Court for the Middle District of Florida to employ Tim J. Klace,
CPA, LLC, as accountant to the Debtor.

Eagle Enterprises requires Tim J. Klace to assist the Debtor  in
tax, accounting, and monthly report matters.

Tim J. Klace 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.

Tim J. Klace, partner of Tim J. Klace, CPA, LLC, assured the Court
that the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtor and its estates.

Tim J. Klace can be reached at:

     Tim J. Klace
     TIM J. KLACE, CPA, LLC
     4006 S. MacDill Avenue
     Tampa, FL 33611
     Tel: (813) 760-0722

                   About Eagle Enterprises

Eagle Enterprises, LLC, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. M.D. Fla. Case No. 19-07116) on July 29,
2019. In the petition, Eagle Enterprises was estimated to have
assets of less than $1 million and liabilities of less than
$500,000 as of the bankruptcy filing.  The case is assigned to
Judge Catherine Peek Mcewen.  Eagle Enterprises is represented by
Michael Barnett, P.A.



EXELA TECHNOLOGIES: Enters Into $160 Million A/R Facility
---------------------------------------------------------
Certain subsidiaries of Exela Technologies, Inc., on Jan. 10, 2020,
entered into a $160 million accounts receivable securitization
facility with a five year term.  The Company used the proceeds of
the initial borrowings to repay outstanding revolving borrowings
under the Company's senior credit facility and to provide
additional liquidity and funding for the ongoing business needs of
the Company and its subsidiaries.

The documentation for the A/R Facility includes (i) a Loan and
Security Agreement, dated as of the Closing Date, by and among
Exela Receivables 1, LLC, (the "Borrower"), a wholly-owned indirect
subsidiary of the Company, the lenders, TPG Specialty Lending,
Inc., as administrative agent, PNC Bank National Association, as LC
Bank, and the Company, as initial servicer, pursuant to which the
Lenders will make loans to the Borrower to be used to purchase
Receivables and related assets from the Parent SPE (ii) a First
Tier Purchase and Sale Agreement, dated as of the Closing Date, by
and among Exela Receivables Holdco, LLC, a wholly-owned indirect
subsidiary of the Company, and sixteen other indirect, wholly-owned
subsidiaries of the Company listed therein, and the Company, as
initial servicer, pursuant to which each Originator has sold or
contributed and will sell or contribute to the Parent SPE certain
Receivables and related assets in consideration for a combination
of cash, equity in the Parent SPE and/or letters of credit issued
by the LC Bank to the Originators, (iii) a Second Tier Purchase and
Sale Agreement, dated as of the Closing Date, by and among, the
Borrower, the Parent SPE and the Company, as initial servicer,
pursuant to which Parent SPE has sold or contributed and will sell
or contribute to the Borrower certain Receivables and related
assets in consideration for a combination of cash, equity in the
Borrower and/or letters of credit issued by the LC Bank to the
beneficiaries elected by Parent SPE (iv) the Sub-Servicing
Agreement, dated as of the Closing Date, by and among the Company
and each Originator, (v) the Guaranty, dated as of the Closing
Date, between the Parent SPE and the Administrative Agent, and (vi)
the Performance Guaranty, dated as of the Closing Date, between the
Company, as performance guarantor, and the Administrative Agent.

The Borrower, the Company, the Parent SPE and the Originators
provide customary representations and covenants under the
Agreements.  Receivables in the A/R Facility are subject to certain
eligibility criteria, concentration limits and reserves. The Loan
Agreement provides for certain events of default upon the
occurrence of which the Administrative Agent may declare the
facility's termination date to have occurred and declare the
outstanding Loan and all other obligations of the Borrower to be
immediately due and payable.

The Company and its affiliates are parties to (i) that certain
First Lien Credit Agreement, dated as of July 12, 2017, by and
among Exela Intermediate Holdings LLC, a wholly-owned subsidiary of
the Company, Exela Intermediate LLC, a wholly-owned indirect
subsidiary of the Company, as the borrower, each "Subsidiary Loan
Party" from time to time party thereto and Royal Bank of Canada, as
administrative agent, (ii) that certain indenture governing the
10.00% first-priority senior secured notes due 2023, dated as of
July 12, 2017, among Exela Intermediate LLC and Exela Finance Inc.,
as issuers, and Wilmington Trust, National Association, as trustee,
and (iii) that certain Collateral Agency and Security Agreement
(First Lien), dated as of July 12, 2017, among Exela Intermediate
LLC, the subsidiary borrowers party thereto, and Royal Bank of
Canada, as collateral agent.  Pursuant to the Loan Agreement, each
of Company, the Borrower, the Parent SPE and the Originators are
prohibited from amending or modifying any Existing Secured Debt
Documents if such amendment or modification could: (i) by its terms
cause any Exela Party to be unable to perform its obligations under
the Agreements, (ii) cause any inaccuracy or breach of any
representation, warranty, or covenant of any Exela Party, (iii)
could subject any existing or subsequently arising Collateral to an
Adverse Claim (each as defined in the Loan Agreement), or (iv)
adversely affect any rights or remedies of the Lenders, the LC Bank
and the Administrative Agent under the Agreements.

A full-text copy of the Loan and Security Agreement is available
for free at the SEC's website at:

                     https://is.gd/g6DX4W

                          About Exela

Headquartered in Irving, Texas, Exela -- http://www.exelatech.com/
-- is a business process automation company, leveraging a global
footprint and proprietary technology to provide digital
transformation solutions enhancing quality, productivity, and
end-user experience.  Exela serves a growing roster of more than
4,000 customers throughout 50 countries, including over 60% of the
Fortune 100.  Exela's software and services include multi-industry
department solution suites addressing finance and accounting, human
capital management, and legal management, as well as
industry-specific solutions for banking, healthcare, insurance, and
public sectors.

Exela reported a net loss of $162.52 million in 2018, a net loss of
$204.28 million in 2017, and a net loss of $48.10 million in 2016.
As of Sept. 30, 2019, the Company had $1.54 billion in total
assets, $1.91 billion in total liabilities, and a total
stockholders' deficit of $373.31 million.

On Nov. 27, 2019, Exela received a letter from the Listing
Qualifications Department of the Nasdaq Stock Market notifying
Exela that, for the last 30 consecutive business days, the closing
bid price for Exela's common stock was below the minimum $1.00 per
share requirement for continued listing on The Nasdaq Capital
Market as set forth in Nasdaq Listing Rule 5550(a)(2).  In
accordance with Nasdaq listing rules, Exela has been provided an
initial period of 180 calendar days, or until May 25, 2020, to
regain compliance with the Minimum Bid Price Requirement.

                          *    *    *

As reported by the TCR on Nov. 29, 2019, S&P Global Ratings lowered
its issuer credit rating on Irving, Texas-based Exela Technologies
Inc. to 'CCC-' from 'CCC+' with negative outlook. "We could lower
our ratings on Exela if the company defaults, announces a
distressed exchange or restructuring, or misses its interest
payment," S&P said.


FC BACKGROUND: $9.5 Million Sale to Fund Plan
---------------------------------------------
FC Background, LLC, doing business as FC Construction Services,
filed a liquidation plan.

The Debtor will liquidate through the Plan by using the proceeds
obtained from the sale of its assets to the purchaser, which the
Bankruptcy Court has already approved.  Pursuant to the asset
purchase agreement, the Debtor will sell  substantially all of its
assets to the purchaser for $9.5 million in cash.

The Plan proposes to vest the cash consideration in the Reorganized
Debtor, which will be responsible for distributing those funds to
the Debtor's creditors as set forth under the Plan.  The Debtor's
reserved causes of action and all assets not conveyed to the
purchaser pursuant to the Sale Order will also remain with the
Reorganized Debtor.  The Reorganized Debtor and the Purchaser will
enter into a Post-Confirmation Transition Services Agreement,
through which the Purchaser will assist the Reorganized Debtor with
the distribution of the Cash Consideration and other remaining
Assets, and pursuing any Reserved Causes of Action.

The Plan treats claims as follows:

   * Class 1.A – Secured Claims: Gulf Coast Bank and Trust
Claims. IMPAIRED.  Amount of Claims: Estimated to be $3.7 million.
Estimated Payment: 100%.  The Debtor or Reorganized Debtor will pay
the Gulf Coast secured claim in full from the Cash Consideration on
the thirtieth (30th) day after the Effective Date.

   * Class 1.D - Secured Claims: Equipment Lease Claims. IMPAIRED.
Amount of Claims: Estimated to be $800,000.  Estimated Payment:
100%.  With respect to all other Equipment Lease Claims, the Debtor
will either (i) pay the counterparty the value of the equipment
under the Equipment Lease; (ii) return the counterparty’s
collateral in satisfaction of all of the Debtor’s obligations, as
soon as is practicable, on or after the Effective Date; or (iii)
provide such counterparty with such other, less favorable treatment
as to which such counterparty.

   * Class 2 - General Unsecured Claims. IMPAIRED. Number of
Claimants: Approximately 250.  Amount of Claims: Approximately $6.2
million.  General unsecured creditors will receive a pro rata
distribution from the cash consideration following full payment to
unclassified claims and Class 1 Claims.

   * Class 3 - Subordinated Claims. IMPAIRED.  Although all
Debtor's Subordinated Claims will be deemed Allowed, these claims
will not be paid unless and until the following are paid per the
Plan: Allowed Administrative Claims, and Classes 1 and 2. See Plan
Section 5.3.

   * Class 4 - Old Equity Interests. IMPAIRED. Number of Claimants:
Approximately 3-10. Amount of Claims: Approximately $2.2 million .
Estimated Payment/Value: $0. Holders of all existing Interests in
the Debtor shall receive nothing under the Plan on account of such
Interests, and such Interests will be cancelled under the Plan.

The Plan proposes to vest the Cash Consideration in the Reorganized
Debtor, which will be responsible for distributing those funds to
the Debtor's creditors as set forth under the Plan.

A full-text copy of the Disclosure Statement dated Dec. 18, 2019,
is available at https://tinyurl.com/ssl6whz from PacerMonitor.com
at no charge.

Attorneys for the Debtor:

     Mark E. Andrews
     Aaron M. Kaufman
     Jane A. Gerber
     DYKEMA GOSSETT PLLC
     1717 Main Street, Suite 4200
     Dallas, Texas 75201
     Tel: (214) 462-6400
     Fax: (214) 462-6401
     E-mail: mandrews@dykema.com
             akaufman@dykema.com
             jgerber@dykema.com

                     About FC Background

FC Background, LLC -- http://www.fc-cs.com/-- is a services
provider conducting worker screening, badging, tracking, and access
control programs on construction projects such as light rail,
sports arenas, airports, hospitals, K-12 schools, colleges,
universities, and miscellaneous industrial construction.  The
company is doing business as FC Construction Services.

FC Background, LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Tex. Case No. 19-32037) on June 19,
2019.  In the petition signed by its chief executive officer, Ira
D. Walker, the Debtor was estimated to have assets of less than $50
million and debts of $50 million.

Judge Stacey G. Jernigan is assigned to the case.

Mark Edward Andrews, Esq., at Dykema Gossett PLLC, is the Debtor's
counsel.  The Debtor tapped ClearCap Strategic Advisors, LLC, as
broker; Still Burton to prepare its 2018 tax return; and Clifford
K. Nkeyasen, PLLC as special counsel.


FIRED UP: Plan Payment to be Funded by Promissory Note Receivables
------------------------------------------------------------------
Debtor Fired Up, Inc. filed an Amended Plan of Reorganization and
Disclosure Statement dated December 11, 2019.

Class 9 General Unsecured Claims totaling $2,147,547.78 were
scheduled of the Petition Date.  The Debtor estimates that there
are currently claims of $2,753,378.94 without the unsecured portion
of the claim of the Internal Revenue Service.  Total General
Unsecured Claims including the Internal Revenue Service unsecured
claim total $3,555,197.07.

Class 9 Creditors will receive payment pro-rata based on the amount
of their allowed claims beginning after all payments have been made
to holders of administrative claims and tax claims in Classes 1
through 5 and will continue until they are paid in full or its
assets are fully monetized, and distributed which is currently
estimated to be December of 2028.

Holders of Class 12 equity interests will retain their interests in
the Debtor.

Ronald Ingalls, a chapter 7 Trustee in the Western District of
Texas, has agreed to accept the position of Plan Agent; he shall be
paid $350 hour for the time actually worked as Plan Agent plus
reimbursement of expenses, including attorney's fees. The Plan
Agent shall be bonded in the amount of $100,000.

There are three Promissory Note Receivables executed by Bluestone
Holdings-related entities as part of the sale of Debtor's assets.
There is also a $250,000 Certificate of Deposit which is security
on a Letter of Credit on an insurance policy that expired six years
ago but has not been returned less claims owed to Travelers of
$124,052 and the cash currently on hand of approximately $92.289.
It is estimated that cash on hand as of the effective date will be
approximately $150,000.

A full-text copy of the Amended Plan and Disclosure Statement dated
Dec. 26, 2019, is available at https://tinyurl.com/sq6s2b9 from
PacerMonitor.com at no charge.

The Debtor is represented by:

        Barbara M. Barron
        Stephen W. Sather
        BARRON & NEWBURGER, P.C.
        7320 North MoPac Blvd, Suite 400
        Austin, Texas 78731
        Tel: (512) 476-9103
        Fax: (512) 476-9253

                       About Fired Up Inc.

Fired Up, Inc., is the Austin, Texas-based owner and operator of
the Johnny Carino's Italian restaurant chain. As of the bankruptcy
filing, Fired Up had 2,900 employees and owned and operated 46
company-owned stores known as Johnny Carino's Italian in seven
states (Texas, Arkansas, Colorado, Louisiana, Idaho, Kansas and
Missouri) and 61 franchised or licensed locations in 17 states and
four other countries (Bahrain, Dubai, Egypt and Kuwait).

Fired Up sought Chapter 11 bankruptcy protection (Bankr. W.D. Tex.
Case No. 14-10447) on March 27, 2014, in Austin, Texas. The Debtor
disclosed $10,360,877 in assets and $36,139,375 in liabilities.

Barbara M. Barron, Esq. and Lynn Saarinen, Esq. at Barron &
Newburger, P.C., in Austin, serve as the Debtor's counsel.

The U.S. Trustee appointed a seven-member Official Committee of
Unsecured Creditors. The Committee tapped Pachulski Stang Ziehl &
Jones LLP as its counsel, and FTI Consulting, Inc., as its
financial advisor.


FOREVER 21: Working on Plan to Be Funded by Sponsor
---------------------------------------------------
Forever 21, Inc., and its affiliates filed a Joint Chapter 11 Plan
of Reorganization.

The Plan provides the Debtors with the necessary latitude to
negotiate the precise terms of their ultimate emergence from
chapter 11.

The Plan contemplates the following transactions:

   * The Plan Sponsor will fund the Plan Sponsor Investment in
accordance with the Plan Sponsor Agreement, which Plan Sponsor
Investment may take the form of Cash, Take-Back Notes, New Equity,
or some combination thereof;

   * The Debtors will pay the Plan Sponsor Equity Fee in the form
of New Equity to the Plan Sponsor;

   * The Debtors will enter into the Plan Sponsor Term Loan
Facility (to be provided by the Plan Sponsor), to repay the DIP
Term Loan Facility and fund the emergence costs of these Chapter 11
Cases and the Exit ABL Facility (to be provided by a third-party),
to repay the DIP ABL Facility;

   * Holders of Allowed General Unsecured Claims will receive their
Pro Rata share of Cash, Take-Back Notes, and New Equity (or some
combination thereof) to be provided by the Plan Sponsor in
accordance with the Plan Sponsor Agreement;

   * Interests in Forever 21 will be cancelled and extinguished;

   * The Debtors will pay all outstanding Claims in accordance with
the Bankruptcy Code's priority waterfall; and

   * All assets of the Debtors will be fully-vested in Reorganized
Forever 21.

On the Effective Date, (a) contemporaneously with termination of
the DIP ABL Facility and the Payment in Full of the DIP ABL
Facility Claims in accordance with Article II.B of the Plan,
Reorganized Forever 21 will enter into the Exit ABL Facility as
provided in the Exit ABL Documentation and (b) contemporaneously
with termination of the DIP Term Loan Facility and the Payment in
Full of the DIP Term Loan Facility Claims in accordance with
Article II.B of the Plan, Reorganized Forever 21 will enter into
the Plan Sponsor Term Loan Facility as provided in the Plan Sponsor
Term Loan Documentation.

Holders of Class 3(a) General Unsecured Claims are impaired.  Each
Holder thereof shall receive its Pro Rata share of: i. the
Take-Back Notes; ii. the GUC Cash Distribution Amount; and  iii.
the GUC Equity Distribution Amount; provided that no Holder of an
Allowed Class 3(a) Claim shall receive more than 100 percent of the
face value of its Allowed Class 3(a) Claim as of the Effective
Date.

The Plan did not identify the sponsor.  The Disclosure Statement
also did not provide an estimated recovery for holders of general
unsecured claims.

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

Counsel to the Debtors:

     Joshua A. Sussberg
     Aparna Yenamandra
     KIRKLAND & ELLIS LLP
     601 Lexington Avenue
     New York, New York 10022
     Telephone: (212) 446-4800
     Facsimile: (212) 446-4900

          - and -  

     Anup Sathy
     KIRKLAND & ELLIS LLP
     300 North LaSalle Street
     Chicago, Illinois 60654
     Telephone: (312) 862-2000
     Facsimile: (312) 862-2200

          - and -  

     Laura Davis Jones
     James E. O’Neill
     Timothy P. Cairns
     PACHULSKI STANG ZIEHL & JONES LLP
     919 North Market Street, 17th Floor
     P.O. Box 8705
     Wilmington, Delaware 19899-8705 (Courier 19801)
     Telephone: (302) 652-4100
     Facsimile: (302) 652-4400

                       About Forever 21

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

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

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

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

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

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

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

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


FUSION CONNECT: Emerges from Chapter 11 Bankruptcy Protection
-------------------------------------------------------------
Fusion, a provider of integrated technology solutions, on Jan. 14
disclosed that the Company, along with each of its U.S.
subsidiaries, has emerged from Chapter 11 bankruptcy protection,
successfully completing its financial restructuring process and
implementing its plan of reorganization (the "Plan"), which was
confirmed by the U.S. Bankruptcy Court for the Southern District of
New York on December 17, 2019.

Approximately $400 million of the Company's indebtedness was
eliminated in the reorganization.  Fusion emerges from this process
as a much stronger company, with a sustainable capital structure to
support its future growth plans and to continue to serve customers
with a comprehensive portfolio of solutions well into the future.
Fusion's balance sheet has been strengthened through a $115 million
exit financing loan provided by a subset of the Company's first
lien lenders.

"We are very pleased to be emerging from our restructuring
expeditiously as planned," said Kevin Brand, President, Chief
Operating Officer, and Interim Chief Executive Officer.  "I greatly
appreciate the support of Fusion's dedicated employees throughout
this process.  We have worked closely with our customers and
partners as well and look forward to building on our pipeline and
increasing sales as we emerge.  We plan to continue our momentum as
we enter the next chapter in our history, and I look forward to
working with the entire Fusion team to find additional ways to
deliver value for our customers.  I'm confident that the future is
bright for Fusion."

In connection with the Company's emergence, a new Board, consisting
of the following individuals, has been appointed:

Timothy J. Bernlohr – Founder and Managing Member, TJB Management
Consulting, LLC
Kevin Brand – Interim Chief Executive Officer; President and
Chief Operating Officer
Andy Fishman – Managing Director, Vector Capital
Wayne Rehberger – Director, QTS Realty Trust
Dudley R. Slater – Industry Advisor, EQT
Paul H. Sunu – Former Chief Executive Officer, FairPoint
Communications
Ilya Voytov – Head of Research, Credit Strategy, Vector Capital

Mr. Brand continued, "This process represented a collaborative and
solutions-oriented partnership with our creditors through which
Fusion has achieved a more sustainable capital structure.  We are
proud to have the support of our former lenders, who are now
Fusion's new owners, and Fusion is even better positioned to
deliver our comprehensive portfolio of innovative single-source
technology solutions while providing strong support for our
customers and partners."

A copy of the Confirmation Order and associated Plan can be found
in the Current Report on Form 8-K filed with the Securities and
Exchange Commission on December 27, 2019.  Information about the
bankruptcy cases can be found by visiting
https://cases.primeclerk.com/Fusion.

                     About Fusion Connect

Fusion Connect (OTC-MKTS: FSNNQ) -- http://www.fusionconnect.com/
-- provides integrated cloud solutions to small, medium and large
businesses, is the industry's Single Source for the Cloud. Fusion's
advanced, proprietary cloud services platform enables the
integration of leading edge solutions in the cloud, including cloud
communications, contact center, cloud connectivity, and cloud
computing.  Fusion's innovative, yet proven cloud solutions lower
customers' cost of ownership, and deliver new levels of security,
flexibility, scalability, and speed of deployment.

On June 3, 2019, Fusion Connect and each of its U.S. subsidiaries
sought Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No.
19-11811).  Fusion's two Canadian subsidiaries are not included in
the filing.

Fusion disclosed $570,432,338 in assets and $760,720,713 in
liabilities as of April 30, 2019.

Fusion is advised by FTI Consulting and PJT Partners, Inc., as
financial advisors, and Weil, Gotshal & Manges LLP as legal
counsel.  Prime Clerk LLC is the claims agent.

The First Lien Ad Hoc Group is advised by Greenhill & Co, LLC, as
financial advisor, and Davis Polk & Wardwell LLP, as legal
counsel.

The U.S. Trustee for Region 2 formed a committee of unsecured
creditors in the Debtors' cases on June 18, 2019.  The committee is
represented by Cooley LLP.



GJS BROS. 1: Hires Stephen V. Bottiglieri as Counsel
----------------------------------------------------
GJS Bros. 1 seeks authorization from the U.S. Bankruptcy Court for
the Eastern District of Pennsylvania to employ Stephen V.
Bottiglieri, Esq. as counsel for the debtor-in-possession.

The professional services that Bottiglieri will render are:

     a.  Provide the Debtor with legal services with respect to its
powers and duties as Debtor-In-Possession;

     b.  Prepare on behalf of the Debtor or assisting the Debtor in
preparing all necessary pleadings, motions, applications,
complaints, answers, responses, orders, United States Trustee
reports, and other legal papers;

     c.  Represent the Debtor in any matter involving contests with
secured or unsecured creditors, including the claims reconciliation
process;

     d.  Assist the Debtor in providing legal services required to
prepare, negotiate and implement a plan of reorganization; and

     e.  Perform all other legal services for the Debtor which may
be necessary, other than those requiring specialized expertise for
which special counsel, if necessary, may be employed.

To the best of the Debtor's knowledge, Bottiglieri does not have
any connection with or any interest to the Debtor, its creditors,
or any party-in-interest, or the Office of the United States
Trustee.  Bottiglieri represents no interest adverse to the Debtor
or its estate in the matters upon which it is to be engaged as
counsel for the Debtor.

The Debtor has paid a general retainer to Bottiglieri for
post-petition services in the sum of $1,333.00. The Debtor has also
paid to Bottiglieri the full filing fee of $1,717.00 for the
Chapter 11 case prior to filing. The Debtor has paid Bottiglieri
the sum of $1,950.00 for pre-petition services.

The standard hourly rate is as follows:

     Stephen V. Bottiglieri, Esq. at $325.00
     Paralegal/Clerical at $100.00

Other expenses incurred by Bottihlieri for this case will be
shouldered by the Debtor.

The firm may be reached at:

     Stephen V. Bottiglieri, Esq.
     66 Euclid Street, Suite C
     Woodbury, NJ 08096
     Tel/Fax: (888) 793-0373
     Email: steve@bottiglierilaw.com

                     About GJS Bros. 1

GJS Bros. 1 is a corporation duly organized under the laws of the
Commonwealth of Pennsylvania that operates a real estate investment
company out of a single location at 101 W. Eagle Road, Suite 214,
Havertown, Delaware County, Pennsylvania 19083.  It filed a
voluntary Chapter 11 petition (Bankr. E.D. Pa. Case No. 19-17733)
on December 12, 2019, and is represented by Stephen V. Bottiglieri,
Esq.  The Debtor listed under $1 million in both assets and
liabilities.



GODSTONE RANCH: Claims to Be Paid in Full in Installments
---------------------------------------------------------
Godstone Ranch Real Estate, LLC, submitted a First Amended Chapter
11 Plan of Reorganization that provides:

   * Class 2.01 - Secured Claim of Harris County et al. IMPAIRED.
Claim: $17,296.29.  The secured claim of the Harris County et al in
the amount of $8,785.03  will be paid in equal monthly installments
over an 9-month period following the effective date of the plan,
with interest accruing at 12%.

   * Class 2.02 - Secured Claim of Texas Gulf Bank, NA. IMPAIRED.
Impaired Claim: $782,902.05. The secured claim of Texas Gulf Bank
in the amount of $782,902.05 will be paid in equal monthly
installments over a 77 month period following the effective date of
the plan with interest accruing at 7.50%, including a one-time lump
sum payment of $450,000.00 to be paid on or December 31, 2020.

   * Class 2.03 - Secured Claim of East End District. IMPAIRED.
Claim: $1,047.98. The secured claim of the East End District in the
amount of $520.47 (representing the delinquent 2018 taxes) will
paid in equal monthly installments over an 9-month period following
the effective date of the plan, with interest accruing at 12%.

   * Class 3 - Non-priority Unsecured Creditors. N/A Est. Claims:
$0.00. General unsecured claims are not secured by property of the
estate and are not entitled to priority under Sec. 507(a) of the
Code.  There are no general unsecured claims treated under this
plan.

   * Class 4 - Equity Security Holders of the Debtor. IMPAIRED.
Equity interest holders are parties who hold an ownership interest
(i.e., equity interest) in the Debtor. John Jolley McCutchen, II
and Karen McCutchen are the only equity interest holders in the
debtor and will retainer their ownership interest in the limited
liability corporation.

The Debtor's plan of reorganization will be funded by the Debtor
through cash flow from operations and future income.

A full-text copy of the First Amended Chapter 11 Plan of
Reorganization dated Dec. 18, 2019, is available at
https://tinyurl.com/ram7anj from PacerMonitor.com at no charge.

Attorney for Debtor:

     Michael L. Hardwick
     MICHAEL HARDWICK LAW, PLLC
     State Bar No. 24088745
     2200 North Loop West, Suite 116
     Houston, TX 77018
     Tel: (832) 930-9090
     Fax: (832) 930-9091
     E-mail: michael@michaelhardwicklaw.com

                About Godstone Ranch Real Estate

Godstone Ranch Real Estate, LLC, sought protection under Chapter 11
of the Bankruptcy Code (Bankr. S.D. Tex. Case No. 19-33153) on June
3, 2019.  At the time of the filing, the Debtor was estimated to
assets of between $100,001 and $500,000 and liabilities of the same
range. The case is assigned to Judge Jeffrey P. Norman.  Michael
Hardwick, PLLC, is the Debtor's bankruptcy counsel.


GRANITE CITY: May Obtain $4.0 Mil DIP Loan, Use Cash Collateral
---------------------------------------------------------------
Granite City Food & Brewery, and its affiliates sought and obtained
authorization from the U.S. Bankruptcy Court for the District of
Minnesota to borrow the interim advance of up to $4.0 million from
JMB Capital Partners Lending, LLC under the DIP Facility, subject
to the terms and conditions set forth in the DIP Loan Documents and
the Interim Order.

The Debtors are authorized to use the proceeds of the DIP Facility
Loans to (a) fund the post-petition working capital needs of the
Debtors during the pendency of the Chapter 11 Cases, (b) pay fees,
costs and expenses of the DIP Facility on the terms and conditions
described in the DIP Loan Documents, (c) roll-up the outstanding
Additional Term Loan Obligations into DIP Obligations, and (d) pay
the allowed administrative costs and expenses of the Chapter 11
Cases.

The DIP Obligations will be secured by a first priority senior
priming liens in substantially all assets of the borrowers. The DIP
Obligations will also constitute allowed senior administrative
expense claims against each Debtor and their estates with priority
in payment over any and all administrative expenses.

JMB Capital is granted continuing, valid, binding, enforceable,
non-avoidable, and automatically and properly perfected security
interests in and liens on all DIP Collateral as collateral security
for the prompt and complete performance and payment when due.

The Debtors are also authorized to use cash collateral to fund the
post-petition working capital needs of the Debtors during the
pendency of the Chapter 11 Cases that are not funded with the DIP
Facility Loans and to pay the allowed administrative costs and
expenses of the Chapter 11 Cases not funded by the DIP Facility
Loans.

Prior to the Petition Date, Citizens Bank, N.A., as Administrative
Agent and as lender, and the other lenders party thereto, including
JMB Capital Partners Lending, LLC made loans, advances and provided
other financial accommodations to the Debtors. The Prepetition
Secured Obligations were secured by valid, perfected, enforceable
and non-avoidable first-priority security interests and liens in
substantially all of the existing and after-acquired assets of the
Debtors and the other Loan Parties. As of the Petition Date, such
security interest is perfected and has priority over all other
security interests.

As of the Petition Date, the Debtors were indebted under the
Prepetition Loan Documents: (a) to the Prepetition Agent and
Prepetition Citizens Lenders (i) in an aggregate outstanding
principal amount of not less than $6.0 million with respect to the
Prepetition Revolving Loan Obligations, (ii) in an aggregate
outstanding principal amount of not less than $29.0 million in
outstanding principal balance of a Term Loan, (iii) in an aggregate
outstanding principal amount of not less than $5.0 million with
respect to the Prepetition Citizens Loan Obligations, and (b) to
the Prepetition Agent and Prepetition JMB Lender in an aggregate
outstanding principal amount of not less than $1.5 million.

Citizens Bank, on behalf of itself and the Prepetition Lenders, is
granted a valid, perfected replacement security interest in and
lien on all prepetition and post-petition property and assets of
the Debtors and the estates, including the DIP Collateral and all
proceeds thereof, in the amount equal to the aggregate diminution
in value of the interests in the Prepetition Collateral (including
cash collateral) from and after the Petition Date. The Adequate
Protection Collateral will not include the Debtors' real property
leases, but only the proceeds, products, and offspring thereof.

In addition, Citizens Bank, on behalf of itself and the Prepetition
Lenders, is granted an allowed superpriority administrative expense
claim as provided in section 507(b) of the Bankruptcy Code in the
amount of the Adequate Protection Claim with priority in payment
over any and all administrative expenses, which 507(b) claims will
have recourse to and be payable from the Adequate Protection
Collateral. The 507(b) Claims shall, in all instances, be subject
and subordinate only to (A) the Carve-Out and (B) the DIP
Superpriority Claims.

The Debtors are also required to segregate $250,000 for the
exclusive benefit and sole purpose of satisfying approved
prepetition claims of Certain PACA Creditors in connection with
their statutory PACA rights and in accordance with the terms of any
order by this Court approving the payment of claims arising under
PACA. Upon satisfaction of the Approved Certain PACA Creditors'
Claims, the Debtors will have access to the remaining funds in
escrow for use in accordance with the terms of the Interim Order
and Approved Budget.  

A copy of the Interim Order is available at PacerMonitor.com at
https://is.gd/5sOTTw at no charge.

                      About Granite City Food

Granite City Food & Brewery Ltd. (OTCPink: GCFB) --
http://www.gcfb.com/-- operates two casual dining concepts:
Granite City Food & Brewery and Cadillac Ranch All American Bar &
Grill.  

The Granite City concept features its award-winning signature line
of hand-crafted beers finished on-site as well as local and
regional craft beers from brewers in various markets. In addition,
these casual dining restaurants offer a wide variety of menu items
that are prepared fresh daily.  The extensive menu features
contemporary American fare made in its scratch kitchens.  Granite
City opened its first restaurant in 1999; there are currently 25
Granite City restaurants in 13 states.  

Cadillac Ranch restaurants feature freshly prepared, authentic,
All-American cuisine in a fun, dynamic environment.  Its patrons
enjoy a warm, Rock N' Roll inspired atmosphere.  The Cadillac Ranch
menu is diverse with offerings ranging from homemade meatloaf to
pasta dishes, all freshly prepared using quality ingredients.  The
company currently operates 4 Cadillac Ranch restaurants in four
states.

Granite City Food & Brewery and four affiliates sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. D. Minn. Lead Case
No. 19-43756) on Dec. 16, 2019.  At the time of the filing, Granite
City Food & Brewery disclosed assets of between $10 million and $50
million and liabilities of the same range.  Judge William J. Fisher
oversees the cases.  James M. Jorissen, Esq., at Briggs & Morgan,
PA, is the Debtors' legal counsel.


GRAY LAND & LIVESTOCK: Seeks Authorization to Use Cash Collateral
-----------------------------------------------------------------
Gray Land & Livestock, LLC seeks authorization from the U.S.
Bankruptcy Court for the Eastern District of Washington to use cash
collateral to pay the expenses described in the budget.

The Debtor has prepared a proposed cash collateral budget in order
to protect, preserve, plant, grow and harvest the 2020 wheat and
grape crops. The Debtor is seeking to utilize the cash collateral
to pay expenses, which include:

     (a) Lease payment of $100,000 to Tom & Lynda Gray.

     (b) The Budget proposes a monthly owner's draw to Rick Gray of
$8,000.

     (c) A monthly adequate protection payment to John Deere in the
amount of $1,500 commencing in January 2020. John Deere has a first
position security interest in the Debtor's seeder.

     (d) The Debtor is proposing to pay Columbia Bank an adequate
protection based upon the Debtor's utilization of $592,000 in cash
collateral. Columbia Bank will receive adequate protection payments
of $2,500 per month starting in January 2020.

     (e) The Debtor is proposing to pay Columbia Bank an adequate
protection in the amount of $200,000 based upon the use of the land
which secures Columbia Bank's claims.

     (f) The Debtor is proposing to pay Husch & Husch, Inc. an
adequate protection payment in the amount of $312.50 per month
starting in January 2020.

Husch & Husch, Inc. asserts a lien against the Crop Proceeds as a
result of a crop lien. Husch is owed additional amounts related to
goods and services Husch provided with respect to the 2016 crops
grown by Gary Land. The Debtor believes Husch is unsecured with
respect to the 2016 advances.

Columbia Bank made a number of loans to the Debtor, Rick Gray and
Gray Farms & Cattle Company, LLC. Specifically, Columbia Bank made
a term real estate loan, an operating loan, a carryover loan and a
cattle loan. The balance of these loans is approximately $3.9
million. The Columbia Loans are cross-collateralized such that
Columbia Loans balances are secured by liens and security interests
against substantially all of the Debtor's assets.

In exchange for the use of cash collateral, the Debtor proposes to
provide Husch and Columbia Bank:

     (1) A replacement adequate protection lien upon all of the
Debtor's 2020 crops and proceeds, including any insurance
recoveries related to the same;

     (2) A replacement adequate protection lien upon all
unencumbered land owned by the Debtor;

     (3) A replacement adequate protection lien upon the Debtor's
interest in the Lease; and

     (4) The adequate protection payments.

                   About Gray Land & Livestock

Gray Land & Livestock is a privately held company that operates in
the animal food manufacturing industry.  Gray Land & Livestock
sought protection under Chapter 11 of the Bankruptcy Code (Bankr.
E.D. Wash. Case No. 19-00467) on Feb. 28, 2019.  At the time of the
filing, the Debtor estimated assets of less than $50,000 and
liabilities of $1 million to $10 million.  The case is assigned to
Judge Frederick P. Corbit. The Debtor tapped Bailey & Busey LLC as
its legal counsel.



HELMET CENTER: U.S. Trustee Unable to Appoint Committee
-------------------------------------------------------
The Office of the U.S. Trustee on Jan. 13, 2020, disclosed in a
court filing that no official committee of unsecured creditors has
been appointed in the Chapter 11 case of The Helmet Center LLC.
  
                       About Helmet Center

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 and manager.  At the time of filing, the
Debtor had $50,001 to $100,000 in assets and $100,001 to $500,000
in liabilities.  Judge Brenda K. Martin oversees the case.  The
Debtor is represented by Thomas H. Allen, Esq., at Allen Barnes &
Jones, PLC.


HOOPERS CONCRETE: March 24 Filing Deadline of Plan & Disclosures
----------------------------------------------------------------
Judge Caryl E. Delano in Tampa, Florida, has entered an ordered
setting a March 24, 2020 deadline for Hoopers Concrete & Block,
LLC, to file a Plan and Disclosure Statement.

If the Debtor fails to file a Plan and Disclosure Statement by the
Filing Deadline, the Court will issue an order to show cause why
the case should not be dismissed or converted to a Chapter 7 case
pursuant to Section 1112(b)(1) of the Bankruptcy Code.

A full-text copy of the Order dated Dec. 18, 2019, is available at
https://tinyurl.com/rdldxeu from PacerMonitor.com at no charge.

                 About Hoopers Concrete & Block

Hoopers Concrete & Block, LLC, a Florida limited liability company
established in 2014, provides services and specialized concrete
products and materials for general and specialized construction
projects, including light commercial, gas stations, retail stores,
high-rise buildings, and light residential.

The Company sought Chapter 11 protection (Bankr. M.D. Fla. Case No.
19-11198) on Nov. 25, 2019, in Tampa, Florida.  Stichter, Riedel,
Blain & Postler, PA, is the Debtor's counsel.

The firm can be reached through:

       Mark F. Robens, Esq.
       Stichter, Riedel, Blain & Postler, P.A.
       110 East Madison Street, Suite 200
       Tampa, Florida 33602
       Telephone: (813) 229-0144
       E-mail: mrobens.ecf@srbp.com


HOSPITAL ACQUISITION: Kettering Health Resigns as Committee Member
------------------------------------------------------------------
The U.S. Trustee for Regions 3 and 9 on Jan. 13, 2020, announced
that Kettering Health Network resigned as member of the official
committee of unsecured creditors in the Chapter 11 cases of
Hospital Acquisition, LLC and its affiliates.

The remaining members of the committee are Cantu Construction and
Development, Inc., Doc-LifeCare Planoltach, LLC, New Source
Medical, LLC and Freedom Medical, Inc.

                    About Hospital Acquisition

Headquartered in Plano, Texas, and founded in 1992, Hospital
Acquisition LLC and its subsidiaries are operators of long-term
acute care hospitals. Through their operating subsidiaries, the
Debtors provide a full range of clinical services to patients with
serious and complicated illnesses or injuries requiring extended
hospitalization. They operate a 49-bed behavioral health hospital
in Pittsburgh, Pennsylvania as well as three out-patient wound care
centers located within its hospitals in Plano, Fort Worth and
Dallas, Texas . As of the petition date, the Debtors operate 17
facilities in nine states.  

Hospital Acquisition LLC and its subsidiaries, including LifeCare
Holdings, LLC, sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. Del. Lead Case No. 19-10998) on May 6, 2019.  

Hospital Acquisition was estimated to have assets of $100 million
to $500 million and liabilities of $100 million to $500 million.  

The Debtors tapped Akin Gump Strauss Hauer & Feld LLP and Young
Conaway Stargatt & Taylor, LLP as counsel; Houlihan Lokey, Inc. as
financial advisor; BRG Capital Advisors LLC as investment banker;
Prime Clerk LLC as claims and noticing agent; and Crowe LLP as its
audit and tax advisor.

The Office of the U.S. Trustee appointed a committee of unsecured
creditors on May 17, 2019.  Greenberg Traurig, LLP, is the
committee's legal counsel.

Jerry Seelig of Seelig + Cussigh HCO LLC was appointed as the
patient care ombudsman in the Debtors' cases.  Perkins Coie LLP and
Morris James LLP represent the PCO as legal counsel.


IOTA COMMUNICATIONS: Delays Q3 Form 10-Q for Analyses
-----------------------------------------------------
Iota Communications, Inc. has filed a Form 12b-25 with the
Securities and Exchange Commission notifying the delay in the
filing of its Quarterly Report on Form 10-Q for the period ended
Nov. 30, 2019.  The Company was unable to file its Quarterly Report
by the prescribed date of Jan. 14, 2020, without unreasonable
effort or expense, because the Company needs additional time to
complete certain disclosures and analyses to be included in the
Report.

                   About Iota Communications

Newark, New Jersey-based Iota Communications, Inc., formerly known
as Solbright Group, Inc. -- https://www.iotacommunications.com/ --
is a wireless network carrier system and software applications
provider dedicated to the Internet of Things.  Iota sells
recurring-revenue solutions that optimize energy usage,
sustainability and operations for commercial and industrial
facilities both directly and via third-party relationships.  Iota
also offers important ancillary products and services which
facilitate the adoption of its subscription-based services,
including solar energy, LED lighting, and HVAC implementation
services.

Iota Communications reported a net loss of $56.78 million for the
year ended May 31, 2019, compared to a net loss of $16.49 million
for the year ended May 31, 2018.  As of Aug. 31, 2019, the Company
had $28.59 million in total assets, $128.84 million in ttoal
liabilities, and a total stockholders' deficit of $100.25 million.

Friedman LLP, in Marlton, NJ, the Company's auditor since 2016,
issued a "going concern" qualification in its report dated  Sept.
13, 2019, citing that the Company has an accumulated deficit and a
working capital deficiency as of May 31, 2019, generated recurring
net losses, and negative cash flows from operating activities that
raise substantial doubt about its ability to continue as a going
concern.


IPS WORLDWIDE: To Seek Plan Confirmation on Feb. 3
--------------------------------------------------
Judge Karen S. Jennemann has ordered that the Disclosure Statement
in support of IPS Worldwide, LLC's Chapter 11 Plan is conditionally
approved.

An evidentiary hearing to consider final approval of the Disclosure
Statement and confirmation of the Plan will be held on Feb. 3,
2020, at 2:00 p.m. in Courtroom 6A, 6th Floor, George C. Young
Courthouse, 400 West Washington Street, Orlando, FL 32801.

Any party desiring to object to the Disclosure Statement or to
confirmation of the Plan must file its objection no later than
seven days before the date of the Confirmation Hearing.

As reported in the Troubled Company Reporter, IPS WORLDWIDE, LLC,
through its Chapter 11 Trustee, has filed an Amended Plan of
Liquidation.  The Plan or Disclosure Statement did not provide for
an estimated percentage recovery for unsecured creditors, which
assert claims in excess of $100,000,000.  According to the
Disclosure Statement, recoveries for creditors in this case will
come from the Extraordinary Income generated from: (i) liquidation
of the Debtor's assets owned (either directly or indirectly) on the
Petition Date; (ii) proceeds from avoidance
Causes of Action including actions arising under Sections 544
through 553 of the Bankruptcy Code; (iii) proceeds from other
Causes of Action and noted in the Litigation Analysis.

A full-text copy of the Amended Plan of Liquidation dated Dec. 16,
2019, is available at https://tinyurl.com/v6d5d9y from
PacerMonitor.com at no charge.

                     About IPS Worldwide

IPS Worldwide, LLC, filed a Chapter 11 petition (Bankr. M.D. Fla.
Case No. 19-00511) on Jan. 25, 2019.  In the petition signed by
William Davies, president, the Debtor was estimated to have assets
of less than $50,000 and liabilities of $100 million to $500
million.  The case is assigned to Judge Karen S. Jennemann. The
Debtor tapped the Law Offices of Scott W. Spradley, P.A., as its
bankruptcy counsel, and Moglia Advisors, as investment banking
advisor.

Judge Karen S. Jennemann approved the appointment of Alex D. Moglia
as the Chapter 11 trustee for IPS Worldwide.  The trustee retained
Klayer and Associates, Inc., as counsel and Moglia Advisors, as
investment banking advisor.

The U.S. Trustee for Region 21 on Feb. 15, 2019, appointed three
creditors to serve on an official committee of unsecured creditors
in the Chapter 11 case.

On June 25, 2019, the Court entered its order authorizing the sale
of substantially all of the Debtor's assets.  The Chapter 11
Trustee conducted an auction on June 19, 2019, with Europe
Management, SPRL, being the highest and best bidder.  The asset
sale closed in July 2019 and the amount of $2,300,000 was paid into
the estate.


IRIDIUM SATELLITE: Moody's Assigns B1 CFR, Outlook Positive
-----------------------------------------------------------
Moody's Investors Service assigned a B1 Corporate Family Rating to
Iridium Satellite LLC, as well as a B1-PD Probability of Default,
and SGL-1 Speculative Grade Liquidity in connection with the
proposed term loan upsizing and expected repayment of unsecured
notes. Moody's affirmed the B1 rating on the upsized $1.75 billion
senior secured first lien credit facilities. The ratings on the
existing senior unsecured notes will be withdrawn upon the
repayment of the notes. A positive rating outlook was assigned at
Iridium.

Iridium's credit facility consists of a 7-year, $1.65 billion Term
Loan B (due 2026) following the proposed $200 million upsize, and a
5-year, $100 million Revolving credit facility (due 2024). Iridium
is raising $200 million in debt proceeds, which together with the
release of cash, will be used to fully repay outstanding Unsecured
Notes (plus transaction fees and expenses) at Iridium
Communications Inc. The $100 million revolving credit will be
undrawn at close. The repayment of the notes collapses the capital
structure, leaving a single class of senior secured debt.

Issuer: Iridium Satellite LLC

Corporate Family Rating, Assigned B1

Probability of Default Rating, Assigned B1-PD

Speculative Grade Liquidity Rating, Assigned SGL-1

Withdrawals:

Issuer: Iridium Communications Inc.

Corporate Family Rating, B2

Probability of Default Rating, B2-PD

Speculative Grade Liquidity Rating, SGL-1

Affirmation:

Issuer: Iridium Satellite LLC

Gtd Senior Secured 1st lien Term Loan B, Affirmed B1 (LGD4) from
(LGD3)

Gtd Senior Secured 1st lien Revolving Credit Facility, Affirmed B1
(LGD4) from (LGD3)

Outlook Actions:

Issuer: Iridium Communications Inc.

Outlook, No Outlook Outstanding from Stable

Issuer: Iridium Satellite LLC

Outlook, Positive

RATINGS RATIONALE

Iridium's B1 rating is constrained by its small scale, high
leverage, and improving but still weak free cash flow. The
Company's revenues were $554 million (through the Last Twelve
Months ended September 2019, LTM), lower than its higher rated
peers. Additionally, while leverage is projected to improve
substantially with the majority of cash flows used to repay debt
over the next 12-18 months, the ratio is currently high at
approximately 6.4x (Moody's adjusted, LTM September 30), excluding
any debt that may be held by the Aireon JV which, although
contractually non-recourse to Iridium, is a factor Moody's
considers in its leverage tolerance. Free cash flows will improve
significantly, turning positive over the next 12-18 months, with
normalized capital spending falling to near 5% of revenues,
following many years of extraordinary spending to deploy its next
generation satellite constellation. The rating is supported by its
established market position with high barriers to entry in the
mobile satellite market, which requires expensive networks and
licensed spectrum to compete. Iridium licenses L-band spectrum and
owns a newly deployed $3 billion next-generation low earth orbit
(LEO) satellite constellation (Iridium NEXT) with enhanced mobile
and fixed voice and data capabilities. It has a good business
model, generating EBITDA margins approaching 60%, with a high
percentage of contractual and recurring revenues from an installed
base of more than 1.3 million communication devices (subscribers)
used in niche and critical military and commercial applications
including aviation, maritime, and transportation end markets among
many others. It has a large and diverse set of commercial
customers, as well as a large fixed-price contract with the US
government and sells its products through a large partner network
including hundreds of service providers, value-added resellers and
manufacturers. Demand for its services is growing as the market and
application for the Internet of Things, and dependence on its
satellite coverage grows.

The telecommunication sector is exposed to moderate social risks,
with particularly high exposure to risk in demographic and societal
trends. Specific to Iridium, the collection, storage, transmission,
use and disclosure of user data and personal information could give
rise to liabilities or additional costs as a result of laws,
governmental regulations, and evolving views of personal privacy
rights and information security standards. Though leverage is
currently elevated, Moody's expects the company's financial policy
to include material debt repayment over the next 12 -18 months as
it progresses towards management long-term target of 3.5x net
reported leverage.

Iridium's liquidity is very good (SGL-1), supported by positive
operating cash flows over the next 12 months, an undrawn revolver,
covenant-lite loans and ample covenant cushion.

The positive outlook reflects its expectation that revenues will
approach $660 million over the next 12-18 months, generating EBITDA
near $380 million on EBITDA margins close to 60% (Moody's
adjusted). Free cash flows will turn positive, rising to over $200
million, with capex falling to near 5% of revenue by 2021. Moody's
expects the company to use at least half of its free cash flow, if
not more, to repay debt. Moody's does not expect shareholder
distributions (e.g. dividends or share repurchase) until leverage
falls to management long-term target of 3.5x net reported leverage.
Moody's projects leverage to improve, falling to near 4.0x by the
end of 2021 (on Moody's adjusted debt of about $1.5 billion),
driven by EBITDA growth and debt repayment. Moody's expects the
ratio to reach its guidance for an upgrade in the second half of
2020. Moody's expects free cash to debt, which was -1.4% (LTM
through September 30) to improve to mid teen percent by the end of
2021, surpassing its upgrade guidance in 2020. Its outlook assumes
the Company maintains very good liquidity.

Moody's would consider a positive rating action if free cash flow
to debt (Moody's adjusted) was sustained above 10%, and debt/EBITDA
(Moody's adjusted) was sustained below 4.5x. Moody's would consider
a negative rating action if free cash flow to debt (Moody's
adjusted) was sustained below 5%, or debt / EBITDA (Moody's
adjusted) was sustained above 5.5x.

The principal methodology used in these ratings was Communications
Infrastructure Industry published in September 2017.

With headquarters in McLean, Virginia, Iridium Communications Inc.
is a provider of mission critical and highly-reliable voice and
data communications services to commercial and government
customers. Coverage is global, connecting people, organizations and
assets over land and sea in maritime, aviation, and other vertical
markets using its L-band satellite network. The Company generated
$554 million in revenue in the LTM period ended September 2019.


J & C CORPORATION: ACM Says Disc. Statement Lacks Information
-------------------------------------------------------------
ACM CCSC OB VII Cayman Asset Company objects to the final approval
of the Disclosure Statement of debtor J & C Corporation, Inc. dated
Nov. 27, 2019.

In its objection ACM points out that:

  * The Disclosure statement states that the main source of income
to fund the plan derives from government contracts, but no
information is provided as to existing contracts and their term of
expiration.  Only executory contracts for utilities with AAA and
AEE were listed in the Schedules and were assumed in section 6.01
of the Plan.

  * The Disclosure statement assigns a value of $150,000 to a Lot
565 which is one of the 3 real estate properties that is part of
ACM's collateral.  No appraisal of the real estate property was
included.

  * Aggregated value of ACM's Collateral as per the Schedules filed
is different from the value assigned in the Disclosure Statement.
Schedule D, filed by Debtor indicated the total aggregated value of
the 3 real estate properties that comprise ACM's collateral was
$390,000, but the Disclosure statement, without any explanation
changed that amount to $350,000.00.

A full-text copy of ACM CCSC's objection is available at
https://tinyurl.com/tegvenf from PacerMonitor.com at no charge.

ACM CCSC is represented by:

       ANGEL ALICEA & ASOCIADOS LAW OFFICES
       Maria S. Jimenez Melendez
       500 MUNOZ RIVERA AVENUE
       EL CENTRO I 211-214, HATO REY, P.R. 00918
       Tel: 756-6600
       Fax: 756-6829
       E-mail: quiebra@prw.net

                    About J & C Corporation

J & C Corporation Inc. sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D.P.R. Case No. 19-04176) on July 24, 2019.
At the time of the filing, the Debtor was estimated to have assets
of between $500,001 and $1 million and liabilities of between
$100,001 and $500,000.  The case is assigned to Judge Mildred Caban
Flores.  The Debtor tapped Modesto Bigas Mendez, Esq., as its legal
counsel.


JULIAN CHARTER SCHOOL: S&P Revises Bond Outlook to Stable
---------------------------------------------------------
S&P Global Ratings revised its outlook to stable from negative and
affirmed its 'B+' long-term rating on California Municipal Finance
Authority's series 2015A charter school revenue bonds, issued for
Julian Charter School (Julian).

"The outlook revision to stable reflects our view of the school's
improved enrollment and financial performance as it brought its
various resource centers into compliance and obtained new
authorizers," said S&P Global Ratings credit analyst Robert Tu.
"While Julian still faces challenges, such as operating in a highly
competitive environment, a new organizational structure given its
new authorizers, and legislative changes to the state's charter
school law, we believe the school has turned the corner in terms of
its transition plan and can now focus on enrollment growth and
operational stability," Mr. Tu added.

Julian began as a single kindergarten through 12th-grade charter
school in San Diego County, the charter for which was first
received in November 1999 for a period of two years. Julian now
operates six independent study charter schools for families with a
strong desire to homeschool and for those students who are
underserved by the traditional education delivery systems. As of
fall 2019, Julian had 1,753 total students enrolled in its home
study and academy programs. It operates 11 resource centers located
in San Diego and Riverside County.


KIMBLE DEVELOPMENT: Seeks to Hire Richmond Law as Attorney
----------------------------------------------------------
Kimble Development of Jackson, L.L.C., seeks authority from the
U.S. Bankruptcy Court for the Middle District of Louisiana to
employ Richmond Law Firm, LLC, as attorney to the Debtor.

Kimble Development requires Richmond Law to represent and provide
legal services to the Debtor in the Chapter 11 bankruptcy
proceeding.

Richmond Law will be paid at the hourly rate of $300.

Richmond Law received in trust a retainer in the amount of $9,217.
The retainer was paid by one check drawn from monies owned by an
affiliate of the Debtor, Lake Charles Center, L.L.C ("LCC").  For
prebankruptcy services, Richmond Law agreed to accept $7,500.

Prior to the Petition Date, Richmond Law was paid $1,650 from the
retainer for fees and expenses in the ordinary course of business,
and did not bill for services unrelated to the preparation of this
case for filing. The balance of the retainer was applied to the
chapter 11 filing fee of $1,717 and costs of $15.30. Richmond Law
holds $5,834.70 in trust for post-petition services and
reimbursable costs.

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

Ryan J. Richmond, a partner at Richmond Law Firm, LLC, assured the
Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and does not
represent any interest adverse to the Debtor and its estates.

Richmond Law can be reached at:

     Ryan J. Richmond, Esq.
     RICHMOND LAW FIRM, LLC
     17732 Highland Road, Suite G-228
     Baton Rouge, LA 70810
     Tel: (225) 572-2819
     Fax: (225) 286-3046
     E-mail: ryan@rjrichmondlaw.com

               About Kimble Development of Jackson

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

Kimble Development of Jackson, based in Baton Rouge, LA, filed a
Chapter 11 petition (Bankr. M.D. La. Case No. 20-10008) on Jan. 8,
2020.  In the petition signed by Michael D. Kimble, manager, the
Debtor was estimated to have $1 million to $10 million in both
assets and liabilities.  Ryan J. Richmond, Esq., at Richmond Law
Firm, LLC, serves as bankruptcy counsel.


LADDER CAPITAL: Fitch Puts BB LT IDR on Rating Watch Positive
-------------------------------------------------------------
Fitch Ratings placed the 'BB' Long-Term Issuer Default Ratings and
senior unsecured debt ratings of Ladder Capital Finance Holdings
LLLP and Ladder Capital Finance Corporation, subsidiaries of Ladder
Capital Corp, on Rating Watch Positive.

Concurrently, Fitch has assigned an expected rating of 'BB+(EXP)'
to Ladder's announced issuance of $500 million of new senior
unsecured notes due 2027. Fitch does not expect the issuance to
have a material impact on the firm's leverage as proceeds from the
new unsecured notes issuance are expected to be used to repay
existing secured borrowings.

KEY RATING DRIVERS

IDRs AND SENIOR DEBT

The Rating Watch Positive reflects an expected improvement in the
Ladder's funding flexibility following the completion of the
announced unsecured debt issuance, as unsecured debt is expected to
increase to about 34.2% of total debt (up from 24% at Sept. 30,
2019), as Ladder's stated intention is to use debt proceeds to
repay a portion of secured borrowings outstanding. This unsecured
funding percentage compares favorably to historical levels and is
at the high end of Fitch's 'bb' category funding, liquidity and
coverage quantitative benchmark range of less than 35% for balance
sheet intensive finance and leasing companies.

Fitch expects to resolve the Rating Watch Positive upon closing of
the unsecured debt issuance, at which point Fitch would expect to
upgrade Ladder's existing ratings by one notch to 'BB+'.

Ladder's ratings remain supported by its established platform as a
commercial real estate (CRE) lender and investor and strong credit
track record and consistent investment strategy throughout periods
of market volatility as a result of its ability to shift between
the securities, lending and real estate businesses, which tend to
be countercyclical. The ratings also reflect Ladder's conservative
underwriting culture, granular portfolio, continued adherence to
leverage targets commensurate with the risk profile of its assets,
internal management structure and expanding access to capital.
Additionally, Fitch believes that there is a strong alignment of
interests between management and shareholders, as evidenced by
management and directors owning $230 million of equity in the
company (11.3%) as of Sept. 30, 2019.

Rating constraints include Ladder's focus on the CRE market, which
exhibits volatility through the credit cycle, reliance on wholesale
funding and the absence of a track record as a standalone entity
through a full credit cycle.

Ladder has continued to diversify its funding sources in recent
years through additional unsecured debt offerings, which Fitch
believes enhances the firms funding flexibility. The company has
also demonstrated access to the collateralized loan obligation
(CLO) market for funding historically, but repaid its remaining CLO
debt in October 2019. At Sept. 30, 2019, Ladder's debt consisted of
six committed loan repurchase facilities, one committed and
multiple uncommitted securities repurchase facilities, an unsecured
corporate credit facility from numerous lending institutions,
mortgage loan borrowings, borrowings from the Federal Home Loan
Bank (FHLB), three unsecured note issuances and the aforementioned
CLO debt.

In January 2020, Ladder announced the extension of maturity dates
on five of its loan repurchase facilities, four of which will
mature between December 2023 and December 2024, including all
extension options. Ladder also extended the maturity of its
committed securities repurchase facility to December 2021 and
extended the maturity of its revolving credit facility to February
2025. Fitch views Ladder's ability to extend these facilities,
thereby reducing reliance on short-term borrowings, favorably.
Fitch believes that Ladder will continue to opportunistically issue
unsecured debt over time, such that its unsecured funding
percentage remains at-or-above levels pro forma for the announced
issuance. Ladder's upcoming term debt maturities include $266.2
million of unsecured notes that mature in August 2021 and $500
million of unsecured notes that mature in March 2022. A sustained
reduction in the proportion of unsecured debt to total debt, which
could result from refinancing unsecured debt maturities with
secured debt, could result in a ratings downgrade.

Fitch believes Ladder has an adequate liquidity position. At Sept.
30, 2019, the company had $2.4 billion of committed, undrawn
funding capacity available, consisting of $266.4 million of
availability under its unsecured corporate revolving credit
facility, $869.3 million of undrawn committed FHLB financing and
$1.3 billion of other undrawn committed financings. However, any
new FHLB advances will have to be repaid in advance of February
2021, when Ladder's captive insurance subsidiary is expected to
lose FHLB membership. Additionally, Ladder's unencumbered pool of
assets, which is $470 million in excess of the amount required by
its bond covenant, could be pledged or sold (subject to applicable
haircuts) to provide additional liquidity, if necessary. At Sept.
30, 2019, unencumbered assets included $83.1 million of
unrestricted cash, $1.3 billion of loans, $38.7 million of
securities, $90.8 million of real estate and $374.3 million of
other assets. Still, Ladder's liquidity position remains
constrained by its real estate investment trust (REIT) tax election
as REITs must generally distribute at least 90% of their net
taxable income, excluding capital gains, to shareholders each
year.

Ladder adheres to a 1.2x unencumbered assets to unsecured debt
covenant, which should provide protection to bondholders during
periods of market stress. Unencumbered asset coverage of unsecured
notes was approximately 1.6x at Sept. 30, 2019, but coverage would
be lower on a stressed basis, which would contemplate declines in
the value of the company's unencumbered portfolio.

The 'BB+(EXP)' rating assigned to the new senior unsecured debt is
expected to be equalized with the ratings assigned to Ladder's
existing senior unsecured debt, as the new notes rank equally in
the capital structure, and with Ladder's Long-Term IDR (given the
expectation that the IDR and existing senior unsecured debt ratings
will be upgraded by one-notch when the transaction is complete).
The equalization of the senior unsecured debt rating with Ladder's
IDR reflects the availability of unencumbered assets, suggesting
average recovery prospects for debtholders under a stressed
scenario.

RATING SENSITIVITIES

IDRs and Senior Debt

If the proposed debt issuance is completed as anticipated, Fitch
expects to upgrade Ladder's Long-Term IDR by one notch to 'BB+' and
to assign a Stable Rating Outlook, reflecting the firm's improved
funding profile. Thereafter, Fitch views rating upside as limited
in the near term. Longer term, rating upside could be driven by a
significant increase in the proportion of unsecured debt, resulting
in unsecured debt approaching 50% of total debt, accompanied by a
reduced reliance on shorter term secured repurchase facilities.
Positive momentum would also be contingent upon the continued
management of leverage in a manner consistent with the risk profile
of its portfolio, maintenance of sufficient liquidity, a sustained
low reliance on gain on sale income and strong asset quality
performance in the face of CRE sub-sector pressures.

Conversely, negative rating pressure on the IDR could result from a
sustained reduction in the proportion of unsecured debt funding,
which could result from the refinancing of the unsecured debt
maturities with secured debt, material weakening of asset quality,
sustained increase in adjusted leverage beyond the company's
articulated target of 2.0x-3.0x and/or a material reduction in
liquidity.

Should the unsecured debt transaction not close, Fitch would likely
affirm Ladder's Long-Term IDR and unsecured debt rating at their
current levels.

The unsecured debt ratings are sensitive to changes to Ladder's IDR
and the level of unencumbered balance sheet assets relative to
outstanding debt. The unsecured debt ratings could be notched above
the IDR over time should unencumbered asset coverage improve.
Conversely, the unsecured debt ratings could be notched down from
the IDR should secured debt increase and/or the level of
unencumbered assets decrease to such an extent that expected
recoveries on the senior unsecured debt were adversely affected.

Criteria Variation

In Fitch's Non-Bank Financial Institutions Rating Criteria, the
core earnings and profitability benchmark ratio for balance sheet
intensive finance and leasing companies is pre-tax income/average
assets. Fitch believes that core earnings, as defined by Ladder, is
a more useful measure of earnings performance than reported pre-tax
income because core earnings excludes certain non-cash expenses and
unrecognized results and eliminates timing differences related to
securitization gains and changes in the values of assets and
derivatives. Therefore, the primary earnings and profitability
benchmark used in this analysis is core earnings/average assets.

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.


LADDER CAPITAL: Moody's Hikes CFR to Ba1 & Alters Outlook to Stable
-------------------------------------------------------------------
Moody's Investors Service upgraded the long-term corporate family
rating of Ladder Capital Corp to Ba1 from Ba2 and the long-term
senior unsecured rating of Ladder Capital Finance Holdings LLLP to
Ba2 from Ba3. Moody's has also assigned a Ba2 rating to Ladder
Capital Finance Holdings LLLP's new long-term senior unsecured debt
due in 2027. Following the ratings upgrade, the outlook was changed
to stable from positive. The issuers are collectively referred to
hereafter as "Ladder".

Issuer: Ladder Capital Corp

Corporate Family Rating, Upgraded to Ba1 from Ba2

Outlook, Changed to Stable from Positive

Issuer: Ladder Capital Finance Holdings LLLP

Senior Unsecured Regular Bond/Debenture, Upgraded to Ba2 from Ba3

Senior Unsecured Regular Bond/Debenture, Assigned Ba2

Outlook, Changed to Stable from Positive

RATINGS RATIONALE

The ratings upgrade reflects Moody's view that Ladder's funding
profile will improve upon completion of the planned issuance of
$500 million of senior unsecured debt, which management announced
this day. The company will use the proceeds of the debt issuance to
repay secured borrowings, thereby reducing its ratio of secured
debt to gross tangible assets to about 46% as of 31 December 2019,
from 56% as of 30 September 2019. Moody's said that Ladder's
reduced reliance on secured debt will increase its unencumbered
asset pool and expand its access to unsecured debt investors. The
ratings upgrade reflects Moody's expectation that Ladder's secured
debt ratio will remain close to 45%. The planned issuance as well
as Ladder's recent maturity date extensions of its committed
funding facilities and its revolving credit facility will lengthen
Ladder's debt maturities, improving its funding profile.

Ladder's ratings and its stable outlook are supported by the
company's strong and consistent financial performance, including
moderate leverage, high-quality assets, a history of profitability
since inception, and increasing funding diversification. In
addition, Ladder's earnings profile has improved from the company's
shift in revenue mix over the last few years, toward more stable
sources such as balance sheet lending, securities investing and net
lease rents, from less stable sources such as conduit lending. The
company has also shifted its loan portfolio away from property
types more likely to be negatively affected by a downturn, such as
hospitality and retail.

Ladder's ratings also take into consideration its business
concentration in the commercial real estate sector and the
relatively high proportion of secured funding in its debt capital
structure, despite the recent decline. Moody's also notes that
there are limited barriers to entry in commercial real estate
lending, and competition has intensified in recent years.

Moody's does not have any particular governance concerns for
Ladder. Ladder has demonstrated strong credit results, having
recorded minimal credit losses in its loan portfolio since
inception, reflecting the company's strong risk management culture,
as well as very experienced management team.

WHAT COULD CHANGE THE RATINGS UP/DOWN

Moody's could upgrade Ladder's ratings if the company continues to
expand its funding diversification, resulting in a decline in its
secured debt ratio to 30%, improves its liquidity runway by further
lengthening its debt maturities, continues to demonstrate
predictable earnings and asset quality over a sustained period, and
further solidifies its franchise positioning.

Moody's could downgrade Ladder's ratings if the company shrinks its
liquidity runway, sustains an increase in leverage (debt/total
equity) above a range of 2.0-3.0x, experiences a material
deterioration in asset quality, or realizes a decrease in
profitability resulting in fixed charge coverage closer to 1.5x.

The principal methodology used in these ratings was Finance
Companies Methodology published in November 2019.


LADDER CAPITAL: S&P Rates New $500MM Senior Notes 'BB-'
-------------------------------------------------------
S&P Global Ratings assigned its 'BB-' senior unsecured debt rating
on Ladder Capital Finance Holdings LLLP's proposed issuance of $500
million of senior notes due 2027. The debt rating is one notch
below its 'BB' long-term issuer credit rating on Ladder because the
company's priority debt is greater than 30% of assets, although
unencumbered assets comfortably cover the unsecured debt. Ladder
intends to use the net proceeds from this offering to repay secured
indebtedness, including loan repurchase debt under committed master
repurchase agreements.

S&P's ratings on Ladder reflect its concentration in the highly
cyclical and competitive commercial real estate market and its
partial reliance on secured repurchase facilities that have the
potential for margin calls. The company's conservative management
of its leverage and liquidity, its diverse revenue sources, and its
current access to borrowings from the Federal Home Loan Bank System
mitigate these risks.



LIFECARE HOLDINGS: Returns to Roots With New Ownership
------------------------------------------------------
LifeCare returns to its roots in critical care with the purchase of
four specialty hospitals and reimagining of its brand.  North Texas
investors purchased four hospitals across North Texas and
Pittsburgh, Pennsylvania, from LifeCare Health Partners in a 363
bankruptcy sale to form LifeCare 2.0, LLC, which will go by the
name LifeCare with headquarters in Addison, Texas.

"We saved over 800 jobs in these communities and hired an
additional 20 people from the corporate office to round out the
LifeCare 2.0 Business Services team in Addison," said Breann
Falsarella, Director of HR.

Leadership chose to keep the name LifeCare because of their
connections to the original founding of LifeCare in 1992 and its
historically exceptional clinical model.  LifeCare is unique in its
all-female CEO staff leading its North Texas hospitals.  CEOs Joy
Patel (Dallas), Ashley Walchok (Fort Worth) and Kathy Wallace
(Plano) are also all trained in critical care.

"Our early intervention and early mobilization program for
critically ill patients is designed to produce better outcomes in a
shorter period of time than traditional healthcare settings and
reduces hospital re-admissions in the process," Ms. Walchock said.
Born in Cleveland, and raised in Sarasota, Florida, Walchock was
inspired as a child to become a nurse.  She spent a majority of her
career in critical care, including roles in cardiovascular ICU,
transplant, trauma and rapid response.  Prior to being named the
CEO of the Fort Worth hospital in September, Walchock had roles as
Director of Case Management and Chief Operating Officer.

The new company has a long-term outlook on a sector that has been
battered by regulatory and reimbursement headwinds for several
years.  "Our patients require specialized vent weaning protocols
and intensive services from a transdisciplinary team.  The level of
service required to provide exceptional outcomes and prevent
re-admissions for these critically ill patients cannot be achieved
in other healthcare environments.  I am proud to be a part of an
organization that embraces a patient-centered model," Wallace said.
Kathy Wallace is a RN with 35 years of healthcare experience
including 18 years at LifeCare where she has served in a variety of
executive leadership roles.

"We had a young patient referred to us that had been on a
ventilator for 19 days with Traumatic Brain Injury after suffering
a fall.  We weaned the patient in five days and discharged that
patient to a lower level of care within 15 days," Patel said.  Joy
Patel has 25 years of healthcare experience of which half was spent
at the bedside as a licensed respiratory therapist giving her
first-hand knowledge of the importance of ventilator weaning and
critical care.

Dr. Steven Davidoff with Southwest Pulmonary Associates said this
about the importance of these types of specialty hospitals,
"Facilities like LifeCare are an important link in the healthcare
system allowing for critical patients to transition between acute
care and rehabilitation.  Some patients require specialized care
for wound management, ventilator management, and respiratory
support that cannot be obtained in the acute care setting. These
types of hospitals provide multimodality therapy with a full
complement of speech, occupational, and physical therapy tailored
to each patient.  Dr. Steven Davidoff is board certified in
Pulmonary and Critical Care Medicine.

The bankruptcy sale finalized Sept. 29, 2019, and LifeCare 2.0, LLC
was the only bidder.  For more information, visit
lifecare-health.com.

                           About LifeCare

Headquartered in Plano, Texas, and founded in 1992, LifeCare
Holdings LLC and its subsidiaries --
https://www.lifecarehealthpartners.com/ -- are operators of
long-term acute care hospitals.  LifeCare provides clinical
services to patients with serious and complicated illnesses or
injuries requiring extended hospitalization.  LifeCare operate a
49-bed behavioral health hospital in Pittsburgh, Pennsylvania as
well as three out-patient wound care centers located within its
Plano, Texas, Fort Worth, Texas and Dallas Texas hospitals.  As of
the Petition Date, the Debtors operate 17 facilities in nine
states.

LifeCare Holdings LLC and its affiliates sought Chapter 11
protection on May 6, 2019.  The lead case is In re Hospital
Acquisition LLC (Bankr. D. Del. Lead Case No. 19-10998).

LifeCare estimated $100 million to $500 million in assets and the
same range of liabilities as of the bankruptcy filing.

The Debtors tapped AKIN GUMP STRAUSS HAUER & FELD LLP as counsel;
YOUNG CONAWAY STARGATT & TAYLOR, LLP, as local counsel; HOULIHAN
LOKEY, INC., as financial advisor; BRG CAPITAL ADVISORS LLC as
investment banker; and PRIME CLERK LLC as claims agent.


LOURIV LLC: Seeks to Hire Century 21 as Real Estate Agent
---------------------------------------------------------
LouRiv, LLC, seeks authority from the U.S. Bankruptcy Court for the
Eastern District of Virginia to employ Century 21 New Millennium,
as real estate agent and broker to the Debtor.

LouRiv, LLC requires Century 21 to sell, or lease, the Debtor's
real property, consisting of three adjoining condominium units
located at 46169 Westlake Drive, Sterling, Virginia.

Century 21 will be paid a commission of 5% of the gross purchase
price, and gross lease price, whichever is applicable.

Stephen Karbelk, real estate agent of Century 21 New Millennium,
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.

Century 21 can be reached at:

     Stephen Karbelk
     CENTURY 21 NEW MILLENNIUM
     20405 Exchange Street, Suite 221
     Ashburn, VA 20147
     Tel: (571) 481-1037

                       About LouRiv LLC

LouRiv, LLC, based in Great Falls, VA, filed a Chapter 11 petition
(Bankr. E.D. Va. Case No. 19-14131) on December 19, 2019. Ann E.
Schmitt, Esq., at Culbert & Schmitt, PLLC, serves as bankruptcy
counsel.   In its petition, the Debtor estimated $1 million to $10
million in both assets and liabilities. The petition was signed by
William Rivellini, president/member.



LOURIV LLC: Seeks to Hire Culbert & Schmitt as Counsel
------------------------------------------------------
LouRiv, LLC, seeks authority from the U.S. Bankruptcy Court for the
Eastern District of Virginia to employ Culbert & Schmitt, PLLC, as
counsel to the Debtor.

LouRiv, LLC, requires Culbert & Schmitt to:

   (a) prepare the schedules of assets and liabilities and the
       statement of financial affairs;

   (b) assist in the administrative aspects of the Chapter 11
       case;

   (c) prepare and file pleadings as necessary to use the assets
       of the estate, to reject or assume leases and to otherwise
       comply with the provisions of Title 11; and

   (d) prepare a disclosure statement and plan of reorganization;

Culbert & Schmitt will be paid at the hourly rate of $375. Culbert
& Schmitt will be paid a retainer in the amount of $10,000.

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

Ann E. Schmitt, a partner at Culbert & Schmitt, 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.

Culbert & Schmitt can be reached at:

     Ann E. Schmitt, Esq.
     CULBERT & SCHMITT, PLLC
     40834 Graydon Manor Lane
     Leesburg, VA 20175
     Tel: (703) 737-6777
     E-mail: aschmitt@culbert-schmitt.com

                      About LouRiv LLC

LouRiv, LLC, based in Great Falls, VA, filed a Chapter 11 petition
(Bankr. E.D. Va. Case No. 19-14131) on Dec. 19, 2019.  In the
petition signed by William Rivellini, president/member, the Debtor
was estimated to have $1 million to $10 million in both assets and
liabilities.  Ann E. Schmitt, Esq., at Culbert & Schmitt, PLLC,
serves as bankruptcy counsel.


MAGNOLIA PROPERTIES: Employs Judson E. Crump as Counsel
-------------------------------------------------------
Magnolia Properties, LLC, requests authorization from the U.S.
Bankruptcy Court for the Southern District of Alabama to employ
Judson E. Crump and the firm Judson E. Crump, P.C. as its
attorney.

The Debtor needs Judson E. Crump to:

     a)  give the Debtor advice with respect to its powers and
duties as debtor-in-possession in the continued operation of its
business and management of its property.

     b)  protect the interest of the Debtor and
debtor-in-possession in connection with lawsuits filed by said
Debtor.

     c)  prepare for the Debtor as debtor-in-possession such
applications, answers, orders, reports, and other legal papers.

     d)  perform all other legal services for debtor-in-possession
which may be necessary.

Judson E. Crump and the firm Judson E. Crump, P.C. will be employed
under a general retainer because of the extent of legal services
required.  The hourly rates for the law firm aren't specified.

Judson E. Crump attests that he and his firm have no connection
with the creditors or any other party in interest or its respective
attorneys.

The firm may be reached at:

     Judson E. Crump
     Judson E. Crump, P.C.
     250 Congress Street
     Mobile, AL 36603
     Tel: (251) 272-9148
     Fax: (251) 650-1207
     Email: judson@judsonecrump.com

              About Magnolia Properties

Magnolia Properties filed a voluntary Chapter 11 petition (Bankr.
S.D. Ala. Case No. 19-14180) on November 27, 2019, and is
represented by Judson E Crump, Esq., at Judson E Crump, P.C.  The
Debtor estimated under $1 million in both assets and liabilities.



MATTSNOW PROPERTIES: Hires Smedlund & Company as Accountant
-----------------------------------------------------------
Mattsnow Properties, LLC, and its debtor-affiliates, seek authority
from the U.S. Bankruptcy Court for the Western District of Texas to
employ Smedlund & Company, P.C., as accountant to the Debtor.

Mattsnow Properties requires Smedlund & Company to prepare the
Debtors' consolidated monthly operating reports.

Smedlund & Company will be paid at a flat fee of $750 per report,
per month.

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

Michael Smedlund, partner of Smedlund & Company, 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.

Smedlund & Company can be reached at:

     Michael Smedlund
     SMEDLUND & COMPANY, P.C.
     5600 N. May Ave.
     Oklahoma City, OK 73112
     Tel: (405) 843-1171

                   About Mattsnow Properties

Mattsnow Properties, LLC, owns and operates three rental units and
manages one rental unit owned by Mark Mattlage-Thurmand and Robert
Snowden.  Mattsnow Properties sought Chapter 11 protect ion (Bankr.
W.D. Tex. Case No. 19-60649) on Aug. 31, 2019.  ERIN B. SHANK,
P.C., is the Debtor's counsel.



MCBB CORP: Employs Wauson Probus as General Counsel
---------------------------------------------------
MCBB Corp., d/b/a Veritas Steak & Seafood, requests authorization
from the U.S. Bankruptcy Court for the Southern District of Texas
to employ Wauson Probus as general counsel.  

The Debtor was forced to file for protection under the Bankruptcy
Code as a result of operating losses that have accumulated over
time as a result of its landlord's breach of the lease. The
Debtor's landlord leased space to Churrascos Steaks & Seafood, a
primary competitor of the Debtor, next door to the Debtor's
restaurant location in violation of the Debtor's lease.

The services rendered or to be rendered by Wauson Probus for the
Debtor include:

     (a)  Analyzing the financial situation and rendering advice
and assistance to the Debtors in determining the appropriate filing
under Chapter 11 of the Bankruptcy Code.

     (b)  Rendering bankruptcy-related legal advice to the Debtor
regarding its continued operation and management of cash and
property.

     (c)  Assisting the Debtors with the preparation and filing of
the Debtor's Chapter 11 petition, schedules, statements of
financial affairs, and related initial pleadings.

     (d)  Representing the Debtor at the Initial Debtor's Interview
with the U.S. Trustee and at the Debtors' First Meeting of
Creditors.

     (e)  Representing the Debtor in any and all matters related to
post-petition administrative matters or matters involving the
Debtor's assets and liabilities and financial affairs.

     (f)  Representing the Debtor with respect to any adversary
proceeding related to: any prepetition transfers of the Debtor,
recovery of any preferences, turnover actions, liens against
property of the estate, and/or property of the estate.

     (g)  Representing the Debtor with respect to negotiations for
any post-petition administrative financing for the Debtor, whether
secured or unsecured and preparing and filing any pleadings
necessary to obtain court approval for such financing as
necessary.

     (h)  Representing the Debtor with respect to negotiations for
the Debtor's use of cash collateral, to the extent of the existence
of any cash collateral and preparing and filing any pleadings
necessary to obtain court approval for such use of cash
collateral.

     (i)  Representing the Debtor with respect to negotiations for
the assumption or rejection of any unexpired leases of
nonresidential, real property or executory contracts and preparing
and filing any pleadings necessary to assume, accept, or reject any
such leases or contracts.

     (j)  Representing the the Debtor with respect to preparing a
disclosure statement and plan of reorganization on behalf of the
Debtor and assisting the Debtor in obtaining confirmation of a plan
of reorganization.

     (k)  Representing the Debtor with respect to objections to
proofs of claim and allowance or disallowance of claims against the
Debtor.

     (l)  Representing the Debtor with respect to post-petition
consummation of the plan of reorganization and other post-petition
matters necessary to the implementation of the plan of
reorganization.

     (m)  Representing the Debtor in pursuing its claims relating
to the lease of real property, both contractual and tort.

     (n)  Representing the Debtor in any other core and related-to
matters.

Because the Debtor can never fully anticipate the course that a
particular case will follow, the entire picture of the legal
services the Debtor will require is unknown. It is possible that
there will be a need for Wauson Probus to handle a variety of
bankruptcy matters beyond those that have been specifically
identified, the Debtor tells the Court.

The standard hourly rates that Wauson Probus will require the
Debtor are:

     John Wesley Wauson at $450.00
     Matthew B. Probus at $450.00
     Anabel King at $250.00
     Sharon Dianiska at $100.00
     Ginger Davis at $100.00
     Oralia Martinez at $100.00

An affiliate by common ownership of the Debtor, RMX Construction,
Inc., guaranteed the Debtor's fees and paid a retainer in the
amount of $25,000 ($15,000 paid on December 17, 2019 and $10,000
paid on December 23, 2019). Wauson Probus deposited the retainer
paid by RMX Construction, Inc. into its IOLTA client trust
account.

Wauson Probus performed prepetition work for the Debtor in the
amount of $7,380.00 and incurred prepetition expenses (including
the filing fee for the Chapter 11 case filing) in the amount of
$1,717.00. Wauson Probus drew the sum of $9,097.00 from the
retainer to pay those fees and expenses prior to filing the
Debtor's Chapter 11 petition, leaving $15,903.00 in retainer on
deposit in Wauson Probus' IOLTA client trust account.

Wauson Probus does not hold an interest adverse to the estate as it
does not possess any economic interest that would tend to lessen
the value of the estate or create either an actual or potential
dispute in which the estate is a rival claimant.

Additionally, Wauson Probus and its professionals are disinterested
persons as that term is defined in 11 U.S.C. section 101(14).

The law firm may be reached at:

     Matthew B. Probus, Esq.
     Wauson Probus
     One Sugar Creek Center Blvd., Suite 880
     Sugar Land, TX 77478
     Tel: (281) 242-0303
     Fax: (281) 242-0306
     Email: MBProbus@w-plaw.com

                     About MCBB Corporation

MCBB Corporation owns and operates a steak and seafood restaurant
in Sugar Land, Texas known as Veritas Steak & Seafood restaurant.
It has been in business since 2010 and has been operating since its
inception in the Sugar Land Town Pointe Center at Highway 59 and
Highway 6.

MCBB Corporation filed a voluntary Chapter 11 Petition (Bankr. S.D.
Tex. Case No. 19-37075) on December 30, 2019, and is represented by
Matthew B. Probus, Esq., at Wauson Probus.  The Debtor reported
under $1 million in both assets and liabilities.



MCCLATCHY CO: Enters Into Standstill Agreement with PBGC
--------------------------------------------------------
McClatchy on Jan. 15, 2020, disclosed that it has entered into a
Standstill Agreement with the Pension Benefit Guaranty Corporation
(PBGC), extending its current runway for negotiating a consensual
restructuring with key stakeholders.

As previously disclosed in the Company's press release dated
November 13, 2019, McClatchy has been in active restructuring
negotiations with substantially all of its secured lenders and
bondholders, as well as the PBGC, to address the future of its
pension obligations and capital structure.  The negotiations
contemplate one or more deleveraging transactions, including some
or all of the Company's Second Lien Term Loans and Third Lien
Notes, which are secured by second and third liens on substantially
all of the Company's assets.

In support of these negotiations, McClatchy has entered into
non-disclosure agreements with lenders holding approximately 87
percent of the Company's First Lien Notes and 100 percent of the
Company's Second Lien Term Loans and Third Lien Notes.  These
conversations are ongoing and productive, and the Standstill
Agreement will allow McClatchy, as well as its lenders, the PBGC,
and their respective legal and financial advisors, time to continue
their negotiations.

"We want to acknowledge our lenders and the PBGC for working
collaboratively and negotiating in good faith to reach a consensus
on these important financial matters, which underpin McClatchy's
continuing commitment to publishing independent journalism in the
public interest," said Craig Forman, President and CEO of
McClatchy.  "We look forward to continuing to partner with these
groups to reach an agreement that is in the best interests of our
24,000+ pension plan participants and other stakeholders, and
positions McClatchy for the future.  We remain focused on executing
our strategy of digital transformation and producing strong,
independent, local journalism that is essential to the 30
communities we serve."

Under the terms of the Standstill Agreement, the PBGC has agreed
not to exercise the remedies available to it as a result of
McClatchy not making its scheduled qualified pension contribution
due on January 15, 2020.  Under the Standstill Agreement, the PBGC
has agreed to a forbearance period until February 18, 2020, unless
terminated earlier, subject to customary terms and conditions.  In
addition, McClatchy is availing itself of its option to defer
paying interest on its secured debt for its contractual 30-day
grace period, which is coterminous with the Standstill Agreement.
There will be no impact on the qualified pension plan or payments
thereunder as a result of the Standstill Agreement.

McClatchy is working towards a permanent solution under which the
PBGC would assume McClatchy's qualified pension plan and continue
to pay the Company's pension plan participants their benefits.
Under current regulations, McClatchy believes that such a solution
would not have an adverse impact on qualified pension benefits for
substantially all participants.  The assets of the qualified
pension plan are estimated at $1.375 billion as of December 31,
2019, including approximately $580 million of voluntary
contributions made by McClatchy, substantially greater than the
contributions required by law.

As previously disclosed, on January 2, 2020, the Company announced
that, as part of the ongoing negotiations, it would not release
certain supplemental executive retirement benefits.  The action is
consistent with withholding payments on the non-qualified plan.

McClatchy and its newsrooms are operating as usual.  The Company
has sufficient liquidity to address all of its ordinary course
operational cash needs and obligations at this time.  There can be
no assurance that the ongoing discussions will result in any
restructuring transaction, that the company will obtain any
required stakeholder consent to consummate a restructuring
transaction, or that the restructuring transaction will occur on a
timely basis or at all.

                          About McClatchy

The McClatchy Company (NYSE American-MNI) --
http://www.mcclatchy.com/-- operates 30 media companies in 14
states, providing each of its communities with news and advertising
services in a wide array of digital and print formats.  McClatchy
is a publisher of iconic brands such as the Miami Herald, The
Kansas City Star, The Sacramento Bee, The Charlotte Observer, The
(Raleigh) News & Observer, and the (Fort Worth) Star-Telegram.
McClatchy is headquartered in Sacramento, Calif., and listed on the
New York Stock Exchange American under the symbol MNI.

McClatchy reported a net loss of $79.75 million for the year ended
Dec. 30, 2018, compared to a net loss of $332.35 million for the
year ended Dec. 31, 2017.  As of Sept. 29, 2019, the Company had
$953.76 million in total assets, $261.79 million in current
liabilities, $1.36 billion in non-current liabilities, and a
shareholders' deficit of $671.54 million.

                           *    *    *

As reported by the TCR on Nov. 19, 2019, S&P Global Ratings lowered
its issuer credit rating on U.S.-based newspaper publisher The
McClatchy Co. to 'CCC-' from 'CCC+'.  The downgrade reflects the
risk that McClatchy could engage in a distressed debt exchange or
file for Chapter 11 bankruptcy.

Moody's Investors Service downgraded the Corporate Family Rating
for The McClatchy Company to Ca from Caa1, and the Probability of
Default Rating to Ca-PD from Caa1-PD primarily due to concerns
regarding the company's liquidity position in light of the pending
pension plan payments of approximately $120 million in 2020,
according to a TCR report dated Nov. 1, 2019.


MCDERMOTT INTERNATIONAL: Lenders Agree to Amend Credit Agreements
-----------------------------------------------------------------
In a regulatory filing with the Securities and Exchange Commission,
McDermott International, Inc., McDermott Technology (Americas),
Inc., McDermott Technology (US), Inc. and McDermott Technology,
B.V., each a wholly owned subsidiary of McDermott, as co-borrowers,
and various other subsidiaries, as guarantors, disclosed that they
have entered into Amendment No. 3 to the Credit Agreement, dated
May 10, 2018, by and among MTA, MTUS and MTBV, as co-borrowers,
McDermott, as a guarantor, the Guarantors, a syndicate of lenders
and letter of credit issuers, Barclays Bank PLC, as administrative
agent for the term facility under the Credit Agreement, and Credit
Agricole Corporate and Investment Bank, as administrative agent for
the other facilities under the Credit Agreement.

Also, on Jan. 9, 2020, McDermott, as a guarantor, and MTA, MTUS and
MTBV, as co-applicants, and the Guarantors, entered into Amendment
No. 3 (the "LC Agreement Amendment") to the Letter of Credit
Agreement dated Oct. 30, 2018, by and among McDermott, as
guarantor, MTA, MTUS and MTBV, as co-applicants, and the
Guarantors.

The Credit Agreement Amendment:

   * amends the events of default to provide that, through
     Jan. 21, 2020, the acceleration of MTA's and MTUS' 10.625%
     Senior Notes due 2024 will not constitute an event of
     default; and

   * amends the Credit Agreement to allow ordinary course auto-
     renewals of letters of credit despite any acceleration,
     bankruptcy, or other event of default.

Like the Credit Agreement Amendment, the LC Agreement Amendment:

   * amends the events of default to provide that, through
     Jan. 21, 2020, the acceleration of the Senior Notes will not
     constitute an event of default; and

   * amends the Letter of Credit Agreement to allow ordinary
     course auto-renewals of letters of credit despite any
     acceleration, bankruptcy, or other event of default.

          Amendment to Superpriority Credit Agreement

On Jan. 9, 2020, McDermott, as a guarantor, and MTA, MTUS and MTBV,
as co-borrowers entered into Amendment No. 2 to the superpriority
senior secured credit agreement, dated Oct. 21, 2019, with a
syndicate of lenders and letter of credit issuers, Barclays Bank
PLC, as administrative agent for the Term Facility (as defined in
the Superpriority Credit Agreement), and Credit Agricole Corporate
and Investment Bank, as administrative agent for the LC Facility.

The Superpriority Amendment:

   * amends the events of default to provide that, through
     Jan. 21, 2020, the acceleration of the Senior Notes will not
     constitute an event of default; and

   * amends the Superpriority Credit Agreement to allow ordinary
     course auto-renewals of letters of credit despite any
     acceleration, bankruptcy, or other event of default.

                Forbearance Deadline Expiration

At 11:59 p.m. (New York City time) on Jan. 15, 2020, the
forbearance deadline under the Forbearance Agreement, dated Dec. 1,
2019, by and among McDermott, MTA, MTUS, certain subsidiaries of
McDermott and an ad hoc group of holders of approximately 35% of
MTA's and MTUS' 10.625% Senior Notes due 2024 expired.  As a
result, the Ad Hoc Group will no longer be obligated to forbear
from the exercise of certain rights and remedies they have under
the indenture governing the Senior Notes as a result of McDermott's
failure to make an interest payment of approximately $69 million,
which was due on Nov. 1, 2019.  Despite the expiration of the
forbearance deadline, McDermott continues to engage in constructive
conversations with holders of the Senior Notes.

                         About McDermott

Headquartered in Houston, Texas, McDermott --
http://www.mcdermott.com/-- is a provider of engineering,
procurement, construction and installation and technology solutions
to the energy industry.  Its common stock is listed on the New York
Stock Exchange under the trading symbol MDR.

McDermott reported a net loss attributable to common stockholders
of $2.69 billion for the year ended Dec. 31, 2019, following net
income attributable to common stockholders of $179 million for the
year ended Dec. 31, 2017.  As of Sept. 30, 2019, McDermott had
$8.75 billion in total assets, $9.86 billion in total liabilities,
$271 million in redeemable preferred stock, and a total
stockholders' deficit of $1.38 billion.

                            *   *   *

As reported by the TCR on Dec. 5, 2019, S&P Global Ratings lowered
its issuer credit rating on McDermott International Inc. to 'SD'
(selective default) from 'CC'.  The downgrade follows McDermott's
missed Nov. 1, 2019, interest payment on its senior unsecured notes
due in 2024.


MINNESOTA SCHOOL: Hires Anthony Ostlund as Special Counsel
----------------------------------------------------------
Minnesota School of Business, Inc., and its debtor-affiliate, seek
authority from the U.S. Bankruptcy Court for the District of
Minnesota to employ Anthony Ostlund Baer & Louwagie P.A., as
special litigation counsel to the Debtors.

Minnesota School requires Anthony Ostlund to assist the Debtor in
gathering and interpreting facts and information from the
pre-petition litigation initiated by the Minnesota Attorney General
and venued in Hennepin County District Court, captioned as State of
Minnesota v. Minnesota School of Business, Inc. d/b/a Minnesota
School of Business, and Globe University, Inc. d/b/a Globe
University, Court File No. 27-CV-14-12558, and related appeals to
the superior Minnesota state courts.

Anthony Ostlund will be paid at these hourly rates:

     Partners                $395 to $650
     Associates              $175 to $250
     Paralegals                 $205

Prior to the Filing Date, the Debtors paid Anthony Ostlund a
retainer of $10,000 and have agreed that Anthony Ostlund will hold
the retainer in trust for application against its allowed fees and
expenses. In the 90 days prior to the Filing Date, the Debtors have
paid Anthony Ostlund a total of $21,737.11 in connection with
prepetition services.

Anthony Ostlund will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Brooke Anthony, partner of Anthony Ostlund Baer & Louwagie 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 Debtors and their
estates.

Anthony Ostlund can be reached at:

     Brooke Anthony, Esq.
     ANTHONY OSTLUND BAER & LOUWAGIE P.A.
     90 S 7th St., Suite 3600
     Minneapolis, MN 55402
     Tel: (612) 349-6969

              About Minnesota School of Business

Minnesota School of Business, Inc., provides specialized training
programs in business, medical, legal, information technology,
massage, vet tech and drafting/design fields.

Minnesota School of Business, based in Woodbury, MN, filed a
Chapter 11 petition (Bankr. D. Minn. Case No. 19-33629) on Nov. 20,
2019.  In the petition signed by Terry L. Myhre,
chairman/president, the Debtor was estimated to have $10 million to
$50 million in both assets and liabilities.  The Hon. Kathleen H.
Sanberg presides over the case. Clinton E. Cutler, Esq., at
Fredrikson & Byron, P.A., serves as bankruptcy counsel.




MINNESOTA SCHOOL: Hires John Ladd as Regulatory Consultant
----------------------------------------------------------
Minnesota School of Business, Inc., and its debtor-affiliate, seek
authority from the U.S. Bankruptcy Court for the District of
Minnesota to employ John Ladd & Associates, Inc., as government and
regulatory consultant to the Debtors.

Minnesota School requires John Ladd to provide input on key policy
matters with the federal government, including the provision of
testimony to Congress, draft legislative language, the submittal of
regulatory comments, and suggest key appointments and directives.

John Ladd will be paid $7,500 per month.

John Ladd will also be reimbursed for reasonable out-of-pocket
expenses incurred.

John Ladd, partner of John Ladd & Associates, Inc., 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.

John Ladd can be reached at:

     John Ladd
     JOHN LADD & ASSOCIATES, INC.
     806 Enderby Dr.
     Alexandria, VA 22302-2224

             About Minnesota School of Business

Minnesota School of Business, Inc., provides specialized training
programs in business, medical, legal, information technology,
massage, vet tech and drafting/design fields.

Minnesota School of Business, Inc., based in Woodbury, MN, filed a
Chapter 11 petition (Bankr. D. Minn. Case No. 19-33629) on Nov. 20,
2019.  In the petition signed by Terry L. Myhre,
chairman/president, the Debtor was estimated to have $10 million to
$50 million in both assets and liabilities.  The Hon. Kathleen H.
Sanberg is the presiding judge.  Clinton E. Cutler, Esq., at
Fredrikson & Byron, P.A., serves as bankruptcy counsel.




MR. MISTER, LLC: Hires Grossbart Portney as Bankruptcy Counsel
--------------------------------------------------------------
Mr. Mister, LLC seeks permission from the U.S. Bankruptcy Court for
the District of Maryland to employ Grossbart, Portney and
Rosenberg, P.A. as counsel to the Debtor.

According to the Debtor, the participation of Grossbart will
expedite the bankruptcy process and will allow the Debtor to
reorganize its affairs with as little disruption to its ordinary
course of affairs as possible.

The professional services that the Debtor may request Grossbart to
render in this Chapter 11 case include, without limitation:

     (a)  Advising the Debtor of its rights, powers and duties as a
debtor and debtor-in-possession;

     (b)  Advising the Debtor concerning, and assisting in the
negotiation and documentation of, financing agreements, debt
restructurings, and related transactions;

     (c)  Representing the Debtor in defense of any proceedings
instituted to reclaim property or to obtain relief from the
automatic stay under section 362(a) of the Bankruptcy Code;

     (d)  Reviewing the nature and validity of liens asserted
against the property of the Debtor and advising the Debtor
concerning the enforceability of such liens;

     (e)  Advising the Debtor on objections to claims filed in the
Chapter 11 case and representing the Debtor in any hearings based
on those objections;

     (f)  Preparing on behalf of the Debtor all necessary and
appropriate applications, motions, pleadings, draft orders,
notices, schedules and other documents, and reviewing all financial
and other reports to be filed in this Chapter 11 case;

     (g)  Advising the Debtor concerning, and preparing responses
to, applications, motions, pleadings, notices and other papers that
may be filed and served in this chapter 11 case;

     (h)  Counseling the Debtor in connection with the formulation,
negotiation and promulgation of plans of reorganization and related
documents; and

     (i)  Performing all other legal services, it is qualified to
handle for and on behalf of the Debtor that may be necessary or
desirable in this chapter 11 case and the Debtor’s affairs.

The current hourly rates charged by Grossbart for its professionals
are provided below:

     Partner at $500.00
     Paralegal at $135.00

Robert N. Grossbart leads the firm's engagement.  The firm will
maintain detailed records of all legal services rendered and actual
and necessary costs and expenses incurred regarding its legal
services.

Mr. Grossbart attests that his Firm neither represents nor holds
any interest adverse to the Debtor or the estate in the matters
upon which it is to be engaged; and that the Firm is a
disinterested person under Bankruptcy code section 101(14).

The law firm may be reached at:

     Robert N. Grossbart, Esq.
     Grossbart, Portney and Rosenberg, P.A.
     100 North Charles Street, 20th Floor
     Baltimore, MD 21201

                   About Mr. Mister, LLC

Mr. Mister, LLC  filed a voluntary Chapter 11 petition (Bankr. D.
Md. Case No. 19-27075) on December 27, 2019, and is represented by
Robert N. Grossbart, Esq., at Grossbart, Portney and Rosenberg,
P.A.  The Debtor estimates under $1 million in both assets and
liabilities.


MRI INTERVENTIONS: Obtains $17.5M Investment from PTC & Petrichor
-----------------------------------------------------------------
MRI Interventions, Inc., announced preliminary and unaudited
results for the quarter ended Dec. 31, 2019.  Additionally, the
Company reported a $17.5 million strategic investment from PTC
Therapeutics, Inc. and Petrichor Healthcare Capital Management.

Revenue for the quarter ended Dec. 31, 2019 is expected to be
approximately $3.2 million, a new quarterly revenue record and an
increase of 43% from $2.3 million in the prior year fourth quarter.
For the fiscal year ended Dec. 31, 2019, revenue is expected to be
approximately $11.2 million, compared with $7.4 million in 2018, an
increase of 53%.  These increases resulted in part from the
completion of 801 cases utilizing the Company's ClearPoint System
or its clinical team's services in 2019, as compared with 670 cases
having been completed in 2018.  Cash used in operations for the
quarter ended Dec. 31, 2019 is expected to improve to approximately
$465,000, compared with $600,000 used in the 2018 fourth quarter,
and for the fiscal year ended Dec. 31, 2019, is expected to improve
to approximately $2.9 million, compared with $4.6 million in 2018.

Under the terms of the investment and subject to certain customary
closing conditions, PTC will fund a $10.0 million note and
Petrichor will fund a $7.5 million note.  The Company anticipates
that the transaction will close on or before Feb. 29, 2020.  The
Company intends to use the net proceeds from the sale of the notes
to repay in full its existing secured indebtedness, and to fund
product commercialization, internal research and development, and
general corporate requirements.

In addition, the securities purchase agreement provides the Company
with the right, but not the obligation, to issue to Petrichor up to
an aggregate principal amount of $15.0 million of secured
convertible notes within the initial 24 months following the
signing of such securities purchase agreement.

Joe Burnett, the Company's president and CEO commented, "In
addition to yet another record quarter for revenue, we are thrilled
to expand our relationship with PTC, and to build a relationship
with Petrichor, two prestigious and collaborative partners.  We
believe that gaining access to $17.5 million in working capital and
being able to draw on an additional $15 million, if needed, will
allow us to continue prioritizing topline revenue growth in the
years ahead.  We anticipate that this capital will allow us to take
full advantage of the opportunities outlined in our four-pillar
growth strategy, especially through partnerships in our biologics
and drug delivery business."

"We are pleased to strengthen our partnership as the ClearPoint
system continues to prove its differentiation in the CNS space,"
said Marcio Souza, chief operating officer, PTC Therapeutics, Inc.
and MRI Interventions Board Member.  "As a leader in CNS targeted
gene therapies, PTC believes the importance of proper delivery and
system integration are clear strategic differentials for the
present and future."

"We view the unique differentiation of the ClearPoint neurosurgery
platform and its ability to enable the next generation of CNS gene
and cell therapies as key growth drivers for the Company," said
Tadd Wessel, founder and managing partner of Petrichor.  "CNS gene
and cell therapies are poised for tremendous growth and we are
excited to partner and provide strategic insights to the Company as
they become a leader in this field."

"I believe the terms of this financing agreement are a direct
result of the financial performance from our team in 2019, as well
as the clear confidence that both PTC and Petrichor have in our
ability to execute on the opportunity ahead of us," continued Mr.
Burnett.  "We believe that our achievement of greater than 50%
revenue growth in 2019 shows our team can focus on the business
immediately in front of us, and our execution of multiple strategic
partnerships in the gene therapy and biologics space show our
team's ability to look to the horizon and plan for the future as
well.  It is in concert with today's investment that we also
announced our intention to change our company name from 'MRI
Interventions' to 'ClearPoint Neuro' as we now have the
capitalization, the vision, and the team in place to support us in
the new decade ahead."

Mr. Burnett will be available for meetings concurrent with the
timing of the JP Morgan Healthcare Conference Jan. 13-14, 2020. To
request a meeting, please contact Matt Kreps, investor relations
for MRIC, at mkreps@darrowir.com.

                      About MRI Interventions

Irvine, California, MRI Interventions, Inc. --
http://www.mriinterventions.com/-- is a medical device company
that develops and commercializes innovative platforms for
performing minimally invasive surgical procedures in the brain and
heart under direct, intra-procedural magnetic resonance imaging, or
MRI, guidance.  From its inception in 1998 to 2002, the Company
deployed significant resources to fund its efforts to develop the
foundational capabilities for enabling MRI-guided interventions and
to build an intellectual property portfolio.  In 2003, the
Company's focus shifted to identifying and building out commercial
applications for the technologies it developed in prior years.

As of Sept. 30, 2019, the Company had $13.39 million in total
assets, $7.38 million in total liabilities, and $6.01 million in
total stockholders' equity.

Cherry Bekaert LLP, in Tampa, Florida, the Company's auditor since
2008, issued a "going concern" qualification in its report dated
April 1, 2019, citing that the Company incurred net losses during
the years ended Dec. 31, 2018 and 2017 of approximately $6.2
million and $7.2 million, respectively.  Additionally, cash used by
operating activities for the years ended Dec. 31, 2018 and 2017 was
approximately $4.6 million and $6.0 million, respectively.  These
conditions raise substantial doubt about the Company's ability to
continue as a going concern.


MRI INTERVENTIONS: Will Change Corporate Name to ClearPoint Neuro
-----------------------------------------------------------------
MRI Interventions, Inc., plans to change its corporate name to
ClearPoint Neuro, Inc.  As part of the name change, the Company
will release a new logo and launch a new website at
www.clearpointneuro.com, and its common stock will commence trading
under the symbol "CLPT" upon completion of the name change, which
is expected to occur on Feb. 14, 2020.  The new name was chosen to
better reflect the Company's expanded strategic focus as the
medical device extension of its biologics and drug delivery
partners.

Joe Burnett, the Company's president and CEO commented, "Over the
past two years we have worked tirelessly as a team to evolve our
portfolio of products and services from a neuro navigation system
to a neuro therapy enabling platform.  The name ClearPoint reflects
our success in those efforts and leverages our proven ClearPoint
System already present in more than 60 active clinical sites in the
United States.  Additionally, ClearPoint Neuro underlines our
commitment and focus to treat the most complex neurological
disorders.  As our portfolio and the procedures our clinical team
support expand beyond the MRI suite, the name MRI Interventions is
limiting and simply does not capture the vision or value that we
will offer moving forward."

         Nasdaq Bell-Ringing Ceremony and Analyst Day

MRI Interventions/ClearPoint Neuro is scheduled to ring the Closing
Bell of the Nasdaq Stock Market on Feb. 14, 2020.  Earlier that
day, the Company will host its first ever Analyst Day at the Nasdaq
Market Center at noon Eastern Time, which will include product and
clinical roadmap presentations, the opportunity to meet with
executives and surgeons experienced in using the ClearPoint System,
and hands-on demonstrations from the Company's product development
and clinical specialist team members.  Investors and analysts
interested in attending may do so by contacting Matt Kreps, Darrow
Associates Investor Relations, at +1 (214) 597-8200 or
mkreps@darrowir.com.

"We are thrilled to have the opportunity to partner with the Nasdaq
on this important milestone and educational event," continued Mr.
Burnett.  "This is an exciting time for the Company, and we believe
the meetings and presentations will be valuable for investors and
analysts to see not only our portfolio, but also the excitement and
dedication of our team members to improve and restore quality of
life for patients and their families."

           About MRI Interventions/ClearPoint Neuro

ClearPoint Neuro's mission is to improve and restore quality of
life to patients and their families by enabling therapies for the
most complex neurological disorders with pinpoint accuracy.
Applications of the Company's current product portfolio include
deep-brain stimulation, laser ablation, biopsy, neuro-aspiration,
and delivery of drugs, biologics and gene therapy to the brain. The
ClearPoint Neuro Navigation System has FDA clearance, is CE-marked
and is installed in 60 active clinical sites in the United States.
The Company's SmartFlow cannula is being used in partnership or
evaluation with more than 20 individual biologics and drug delivery
companies in various stages from preclinical research to late stage
regulatory trials.

As of Sept. 30, 2019, the Company had $13.39 million in total
assets, $7.38 million in total liabilities, and $6.01 million in
total stockholders' equity.

Cherry Bekaert LLP, in Tampa, Florida, the Company's auditor since
2008, issued a "going concern" qualification in its report dated
April 1, 2019, citing that the Company incurred net losses during
the years ended Dec. 31, 2018 and 2017 of approximately $6.2
million and $7.2 million, respectively.  Additionally, cash used by
operating activities for the years ended Dec. 31, 2018 and 2017 was
approximately $4.6 million and $6.0 million, respectively.  These
conditions raise substantial doubt about the Company's ability to
continue as a going concern.


NEAL ELECTRIC: Court Bars Access to Cash Collateral on Final Basis
------------------------------------------------------------------
Judge Paul Baisier granted on a final basis the motion filed by
United Community Bank which sought to prohibit Neal Electric, Inc.,
from using cash collateral, or in the alternative, grant UCB
adequate protection.

The terms of the interim order were made final on grounds that no
party-in-interest filed objections within the 21-day notice period.
A copy of the final order is available at https://is.gd/eidZly
from PacerMonitor.com at no charge.

                      About Neal Electric

Based in Mcdonough, Georgia, Neal Electric Inc. filed a voluntary
petition under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ga.
Case No. 19-65232) on Sept. 26, 2019.  In the petition signed by
Clifford Mowery, chief financial officer/VP, the Debtor was
estimated to have under $1 million in both assets and liabilities.
Joseph Chad Brannen, Esq., at The Brannen Firm, LLC, is the
Debtor's counsel.

No official committee of unsecured creditors has been appointed in
this case.


NEW SCHOOL OF COOKING: Case Summary & 20 Top Unsecured Creditors
----------------------------------------------------------------
Debtor: The New School of Cooking, Inc.
        525 E. Colorado Blvd.
        Pasadena, CA 91101

Business Description: The New School of Cooking, Inc. --
                      https://www.newschoolofcookingla.com/ -
                      is a culinary school that teaches
                      contemporary cooking and baking techniques.
                      New School of Cooking offers recreational
                      cooking and baking classes, one-day
                      workshops, 4-week and 20-week cooking
                      classes, kids and young adult classes and
                      camps, corporate team building events,
                      location rentals for filming and kitchen
                      use, and private events & catering.

Chapter 11 Petition Date: January 15, 2020

Court: United States Bankruptcy Court
       Central District of California

Case No.: 20-10484

Judge: Hon. Neil W. Bason

Debtor's Counsel: Crystle J. Lindsey, Esq.
                  WEINTRAUB & SELTH, APC
                  11766 Wilshire Boulevard, Suite 1170
                  Los Angeles, CA 90025
                  Tel: (310) 207-1494
                  E-mail: crystle@wsrlaw.net

Estimated Assets: $100,000 to $500,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Eric P. Ashenberg, chief executive
officer.

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/tFqCOe


NPB COMPANY: Hires McDowell Rice as Bankruptcy Counsel
------------------------------------------------------
NPB Company, Inc. seeks permission from the U.S. Bankruptcy Court
for the District of Kansas to employ the law firm of McDowell Rice
Smith & Buchanan as counsel to:

     (a)  Advise the Debtor with respect to its powers and duties
as a debtor and debtor-in-possession in the continued management
and operation of its business and properties;

     (b)  Attend meetings and negotiate with representatives of
creditors and other parties in interest on any and all matters
affecting the Debtor's business operations, claims by and against
the estate, and issues relating to the reorganization;

     (c)  Prepare on behalf of the Debtor all motions,
applications, answers, responsive pleadings, complaints, and other
necessary filings, orders, reports, and documents needed for the
administration of the estate;

     (d)  Take all necessary action to protect and preserve the
Debtor's estate including the prosecution of actions on its behalf,
the defense of any actions commenced against Debtor or the estate,
negotiations concerning litigation in which the Debtor may be
involved, and objections to claims filed against the estate;

     (e)  Attend all hearings and advocate the Debtor's positions
on the applicable issues;

     (f)  Negotiate and prosecute on the Debtor's behalf (as needed
or required) use of cash collateral, DIP financing, sales of
assets, contracts and lease agreements, and all necessary
agreements and/or documents;

     (g)  Formulate, negotiate and seek approval of disclosure
statement(s) and plan(s) of reorganization;

     (h)  Handle all appeals of the Debtor and appear before any
appellate courts to present the positions of the Debtor and the
estate before such courts;

     (i)  Address all requirements of the Office of the United
States Trustee in this proceeding; and

     (j)  Perform all other necessary legal services and provide
all other necessary legal services and provide all other necessary
legal advice to the Debtor in connection with the Chapter 11 case.

The firm charges these hourly rates:

    Shareholder at $210 to $550;
    Associates at $175 to $190; and
    Paralegals at $75 to $150.

McDowell Rice does not hold or represent any interests adverse to
this bankruptcy estate and is a disinterested person within the
meaning of 11 U.S.C. section 101(14).

The law firm may be reached at;

     Jonathan A. Margolies, Esq.
     McDowell Rice Smith & Buchanan
     605 W. 47th Street, Suite 350
     Kansas City, MO 64112
     Tel: (816) 753-5400
     Fax: (816) 753-9996
     Email: petesmith@mcdowellrice.com
            jmargolies@mcdowellrice.com

                      About NPB Company, Inc.

Founded in 1986, NPB Company, Inc. -- http://newport-blue.com--
offers a selection of men's swimwear, printed tee shirts, fashion
knits and woven shirts.

The Debtor filed for Chapter 11 bankruptcy protection (Bankr. D.
Kan. Case No. 19-41542) on December 18, 2019.

In its petition, the Debtor estimated $1 million to $10 million in
both assets and liabilities.  The petition was signed by Matthew
Gray, president.

The Debtor is represented by Jonathan A. Margolies, Esq., at
McDowell Rice Smith & Buchanan.



ONE HUNDRED FOLD: Seeks to Hire Kelly Hart as Counsel
-----------------------------------------------------
One Hundred Fold II, LLC, seeks authority from the U.S. Bankruptcy
Court for the Middle District of Louisiana to employ Kelly Hart
Pitre, as counsel to the Debtor, substituting Pamela G. Magee,
Esq., at Attorney Pamela Magee LLC.

One Hundred Fold requires Kelly Hart to:

   a. advise the Debtor with respect to the continued operation
      and management of the Debtor's business and property;

   b. pursue confirmation of a plan of reorganization;

   c. work on behalf of the Debtor regarding all necessary
      applications, motions, answers, proposed orders, other
      pleadings, notices, schedules and other documents, and
      reviewing all financial and other reports to be filed;

   d. advise the Debtor concerning and preparing responses to
      applications, motions, pleadings, notices, and other
      documents which may be filed by other parties herein;

   e. appear in court to protect the interests of the Debtor's
      estate;

   f. represent the Debtor in connection with obtaining post-
      petition financing, if necessary;

   g. investigate the nature and validity of liens asserted
      against the property of Debtor, and advising the Debtor
      concerning the enforceability of said liens;

   h. investigate and advise the Debtor concerning, and taking
      such action as may be necessary to collect, income and
      assets in accordance with applicable law, and the recovery
      of property for the benefit of Debtor's estate;

   i. advise and assist the Debtor in connection with any
      potential property dispositions;

   j. advise the Debtor concerning executory contract and
      unexpired lease assumptions, assignments and rejections
      and lease restructuring, and characterizations of the
      Debtor's property interests;

   k. assist the Debtor in reviewing, estimating, and resolving
      claims asserted against Debtor's estate;

   l. commencing, continue and conduct litigation necessary and
      appropriate to assert rights held by the Debtor, protect
      and pursue recovery of assets and claims of the Debtor's
      estate or otherwise further the goal of completing a
      successful reorganization of the Debtor's estate; and

   m. perform all other legal services for the Debtor which may
      be necessary and proper in this chapter 11 case.

Kelly Hart 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.

Louis M. Phillips, partner of Kelly Hart Pitre, 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.

Kelly Hart can be reached at:

     Louis M. Phillips, Esq.
     KELLY HART PITRE
     301 Main Street, Suite 1600
     Baton Rouge, LA 70801-1916
     Tel: (225) 381-9643
     Fax: (225) 336-9763
     E-mail: louis.phillips@kellyhart.com

                   About One Hundred Fold II

One Hundred Fold II, LLC, is a locally owned and operated business
that rents residential rental properties primarily in the northwest
area of Baton Rouge since its formation on Feb. 11, 2018. Mr. Jerry
L. Baker, Jr., has operated this company and other residential
rental companies in Baton Rouge, Louisiana for over a decade.

One Hundred Fold II filed a Chapter 11 petition (Bankr. M.D. La.
Case No. 18-10313) on March 24, 2018.  In the petition signed by
Mr. Baker, manager, the Debtor was estimated $500,000 to $1 million
in assets and $1 million to $10 million in liabilities as of the
bankruptcy filing.  Judge Douglas D. Dodd is the presiding judge.
Kelly Hart Pitre is presently serving as the Debtor's counsel,
replacing Pamela Magee LLC.


PACIFIC DRILLING: Arbitration Tribunal Awards $320 Million
----------------------------------------------------------
Pacific Drilling S.A. (NYSE: PACD) on Jan. 15, 2020, reported that
an award has been issued in the previously disclosed arbitration
proceedings between the Company's subsidiaries, Pacific Drilling
VIII Limited ("PDVIII") and Pacific Drilling Services, Inc.
("PDSI"), and Samsung Heavy Industries Co. Ltd. ("SHI") related to
the contract for the construction and sale of the Pacific Zonda.
An arbitration tribunal in London, England (the "Tribunal") awarded
SHI approximately $320 million with respect to its claims against
PDVIII and PDSI.  The award does not include approximately $100
million in interest and costs sought by SHI, on which the Tribunal
reserved making a decision to a later date.

As previously disclosed, in connection with the Company's now
concluded Chapter 11 proceedings, PDVIII and PDSI (the "Zonda
Debtors") filed a separate plan of reorganization (the "Zonda
Plan") under Chapter 11 of the U.S. Bankruptcy Code in the United
States Bankruptcy Court for the Southern District of New York,
which was confirmed on January 30, 2019.  Once the Tribunal's award
becomes final and unappealable, the Company expects the Zonda
Debtors, which have approximately $4.5 million in cash and no other
material assets, will be liquidated in accordance with the terms of
the Zonda Plan.

The Company does not expect the Tribunal's decision to have any
material adverse effect on its operations or to cause any default
under any of its material contracts including under the indentures
for its outstanding notes.  As a result of the Tribunal's decision,
the Company expects to recognize a loss of approximately $225
million during the fourth quarter of 2019, primarily related to the
elimination of the Zonda receivable on the balance sheet.

PDVIII and PDSI are currently considering whether to seek
permission to appeal and are exploring all available legal
remedies. Under the rules governing the arbitration proceedings,
PDVIII and PDSI have no automatic right to appeal and the grounds
on which the High Court in London may grant permission to appeal
are limited.  PDVIII and PDSI must seek permission to appeal no
later than 28 days from the date of the award, or by February 12,
2020.

Pacific Drilling CEO Bernie Wolford commented, "The Company is
surprised and disappointed by the Tribunal's decision.  However,
this outcome will not impact our commitment and ability to continue
to deliver to our customers the highest level of deepwater drilling
services in our industry."

                      About Pacific Drilling

Pacific Drilling S.A. (OTC: PACDQ) a Luxembourg public limited
liability company (societe anonyme), operates an international
offshore drilling business that specializes in ultra-deepwater and
complex well construction services. Pacific Drilling --
http://www.pacificdrilling.com/-- owns seven high-specification
floating rigs: the Pacific Bora, the Pacific Mistral, the Pacific
Scirocco, the Pacific Santa Ana, the Pacific Khamsin, the Pacific
Sharav and the Pacific Meltem. All drillships are of the latest
generations, delivered between 2010 and 2014, with a combined
historical acquisition cost exceeding $5.0 billion. The average
useful life of a drillship exceeds 25 years.

On Nov. 12, 2017, Pacific Drilling S.A. and 21 affiliates each
filed a voluntary petition for relief under Chapter 11 of the
United States Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No.
17-13193). The cases are pending before the Honorable Michael E.
Wiles and are jointly administered.

Pacific Drilling disclosed $5.46 billion in assets and $3.18
billion in liabilities as of Sept. 30, 2017.

The Debtors tapped Sullivan & Cromwell LLP as bankruptcy counsel
but was later replaced by Togut, Segal & Segal LLP; Evercore
Partners International LLP as investment banker; AlixPartners, LLP,
as restructuring advisor; Alvarez & Marsal Taxand, LLC as executive
compensation and benefits consultant; Ince & Co LLP and Jones
Walker LLP as special counsel; and Prime Clerk LLC as claims and
noticing agent; Deloitte Financial Advisory Services LLP, as
accounting advisor to the Debtor.

The RCF Agent tapped Shearman & Sterling LLP, as counsel, and PJT
Partners LP, as financial advisor.

The ad hoc group of RCF Lenders engaged White & Case LLP, as
counsel.

The SSCF Agent tapped Milbank Tweed, Hadley & McCloy LLP, as
counsel, and Moelis & Company LLC, as financial advisor.

The Ad Hoc Group of Various Holders of the Ship Group C Debt, 2020
Notes and Term Loan B tapped Paul, Weiss, Rifkind, Wharton &
Garrison, in New York as counsel.


PAYLESS SHOESOURCE: Emerges from Voluntary Chapter 11 Protection
----------------------------------------------------------------
Payless ShoeSource on Jan. 16, 2020, disclosed that it has emerged
from Voluntary Chapter 11 Protection, which was filed in February
2019.  The iconic retailer has appointed a new executive management
team and is poised to unveil its new strategy in 2020.  The new
team is led by CEO Jared Margolis, who previously served as
President of CAA-GBG, the largest licensing agency in the world,
and a joint venture between accessories, footwear and apparel
powerhouse Global Brands Group, and Creative Artists Agency, a
leading entertainment and sports agency.  Payless Latin America,
the Company's largest current business unit, will be led by Justo
Fuentes, as LATAM CEO.  Mr. Fuentes previously served as President
of BATA Latin America, where he supervised in the region the
operation of over 1,000 retail stores, ecommerce, catalogue and
wholesale distribution as well as manufacturing.

The Company has emerged from bankruptcy with an existing global
retail footprint spanning Latin America, Southeast Asia, and the
Middle East.  In these territories, combined, Payless and its
franchisees own and operate over 710 brick and mortar doors in over
thirty countries.

"I am pleased to have the opportunity to lead this iconic retail
brand into a new strategic phase with a strengthened balance sheet
and clean financial outlook.  We will implement a new comprehensive
strategic plan to strengthen our relationship with our vendors and
suppliers, support our global franchise partners and deepen the
trust of our customers.  The Payless brand stands for design,
quality and value, and we plan to reinvigorate that proposition for
our customers all over the world," according to Payless' new Chief
Executive Officer, Jared Margolis.

The company will advance its trusted mission of delivering
high-quality, stylish, and comfortable footwear for the entire
family, at a value price-point.  Furthermore, the Payless Brand
plans to collaborate with high-profile individuals and brands to
ensure exclusive product offerings at a compelling price-point for
its loyal base.  Payless is in the process of considering new
technologies to streamline and optimize the customer experience.
This approach will apply across all distribution channels,
worldwide.

"We intend to leverage Payless' existing infrastructure, which is
best in class and already includes product design & development,
distribution, marketing, and a strong relationship with major
footwear manufacturers.  Thus, providing the new Payless with the
ability to be nimble, innovative, and to fast-track our biggest
growth opportunity: The United States," affirms Mr. Margolis.

"We look forward to continuing our success in the Latin American
market," says Mr. Fuentes.  "In the past year, we have implemented
many new strategies to increase our market share and in-store
footprint in the region, and in 2020 we are going to build upon
this even further.  This plan will include a strong digital
component to allow an omnichannel approach to the Latin market, as
well as several product strategies that will allow Latin consumers
to continue seeing Payless as their primary source of high-quality,
value-priced family footwear."

The current international Payless footprint sold approximately
twenty-five million pairs of shoes over the past twelve months.
Moreover, Payless' database is robust and active, consisting of
eleven million customers who have purchased products in the past
year.  Accordingly, Payless intends to institute an omni-channel
distribution channel strategy targeting both, new and existing
markets.

                     About Payless Holdings

Payless -- http://www.payless.com/-- was founded in 1956 as an
everyday footwear retailer. It has more than 4,000 stores in more
than 30 countries, and employs approximately 22,000 people. It is
headquartered in Topeka, Kansas, but its operations span across
Asia, the Middle East, Latin America, Europe, and the United
States.

Payless first traded publicly in 1962, and was taken private in May
2012. Payless Holdings, LLC currently owns, directly or indirectly,
each of its 91 subsidiaries.

Payless Holdings LLC (Bankr. E.D. Mo. Case No. 17-42267) and its
subsidiaries sought protection under Chapter 11 of the Bankruptcy
Code on April 4, 2017. The petitions were signed by Paul J. Jones,
chief executive officer.

At the time of the filing, the Debtors estimated their assets at
$500 million to $1 billion and liabilities at $1 billion to $10
billion.  

The Debtors hired Guggenheim Securities LLC as financial advisor
and investment banker; Alvarez & Marsal North America LLC as
restructuring advisor; Prime Clerk LLC as claims, balloting and
administrative agent; and Osler, Hoskin & Harcourt LLP as CCAA
counsel.

Cassels Brock & Blackwell LLP serves as counsel in the CCAA
proceedings while Seward & Kissel LLP serves as counsel for the
Debtors' independent managers.

The Office of the U.S. Trustee on March 1 appointed seven creditors
to serve on the official committee of unsecured creditors in the
Chapter 11 cases of Payless Holdings LLC and its affiliates.  The
Committee retained Pachulski Stang Ziehl & Jones LLP as lead
counsel, Province, Inc., as financial advisor, and Back Bay
Management Corporation and its division, The Michel-Shaked Group,
as expert consultant and Dr. Israel Shaked as expert witness.


PBF HOLDING: Fitch Assigns BB Rating to Proposed Unsec. Notes
-------------------------------------------------------------
Fitch Ratings assigned a 'BB'/'RR4' to PBF Holding's proposed
unsecured note issuance. The Issuer Default Rating is 'BB' and the
Rating Outlook is Positive. The company plans to offer $1 billion
of senior unsecured notes due 2028 and use the proceeds to fund the
redemption of the outstanding 7.00% senior unsecured notes due 2029
and general corporate purposes, including partially financing the
acquisition of the Martinez Refinery.

PBF Holding Company LLC's ratings reflect its geographically
diversified portfolio of refineries, moderate size, the high
complexity of its refineries, strategic integration with PBF
Logistics LP (PBFX; BB/Stable), success in integrating and
organically growing its refineries, and credit metrics commensurate
with the 'BB' category. This is offset by the refining industry's
inherent volatility; regulatory overhang; large swings in working
capital; potential disruptions from turnarounds; competitive
conditions, particularly on the East Coast; margins that have
historically trailed peers'; and an acquisitive business strategy.

The Positive Outlook reflects Fitch's view that the pending
Martinez Refinery acquisition should increase scale and
diversification, generate operating synergies, increase the
company's overall complexity, and further enhance the potential
benefit from International Maritime Organization (IMO) 2020
regulations. The Outlook is expected to be resolved upon completion
of the Martinez acquisition and its successful integration into the
system.

KEY RATING DRIVERS

Growing Size and Diversification: PBF Holding's strategy is to buy
complex refineries at attractive prices. Following the completion
of the Martinez acquisition, PBF Holding will own six refineries in
four different Petroleum Administration for Defense Districts
(PADDs) and have approximately 1.041 million barrels per day (bpd)
of throughput capacity. Diversification helps reduce the risk of
demand-supply imbalances of the crude input and resulting product
in each PADD. Refineries are high-fixed-cost, low-margin businesses
that can have enormous swings in working capital. Fitch believes
scale and diversification help to reduce these risks and improve
credit quality. High utilization is important in offsetting high
fixed costs. Pro forma for the Martinez acquisition, PBF Holding
will have the most complex refinery slate of any independent
refiner (Nelson complexity index of 12.8) and will be the most
complex refiner in California (Nelson complexity index of 15.5).
This complexity allows PBF Holding to run a wide range of crude
slates and take advantage of changes in price spreads among
different types of oil.

Investment in Refinery Portfolio: Since its formation in 2008, PBF
Holding has successfully integrated new refineries into its system.
Integration efforts include the investment in restarting idled
equipment that has led to incremental margin when brought on line.
For example, in Toledo, OH, PBF Holding increased investment in its
existing, profitable petrochemical business. In Chalmette, LA, the
company restarted its idled Reformer complex to increase high-value
product yield and its idle Coker No. 1.

Martinez Increases Scale and Diversification: The Martinez
acquisition from Royal Dutch Shell plc provides PBF Holding with
expanded geographic diversification, increases nameplate throughput
capacity to over 1 million bpd, and expands the company's footprint
in California. The opportunity cost of downtime in California is
high, given the tightness of the localized market. Having two
California refineries helps to alleviate this risk. The company
expects to pay $900 million-$1 billion for the refinery, depending
on the closing date. In addition, Shell has completed a turnaround
prior to closing and PBF Holding has agreed to earn-out provisions
for earnings above certain levels for the first four years.
Martinez has a Nelson complexity index of 16.1, which allows it to
process a slate of heavy, high sulphur, high total acid number
crudes to produce a high percentage of high-value clean products.
PBF Holding plans to manage the Martinez and Torrance refineries as
a single refining system to enhance synergistic benefits. In
addition, the acquisition should create a tax shield as the company
can effectively expense 100% of the transaction cost under the Tax
Cut and Jobs Act of 2017.

Impact of IMO 2020: PBF Holding is well-positioned to benefit from
IMO 2020 regulations, which will reduce allowed sulphur content of
marine fuel oil to 0.5% from 3.5%. PBF Holding is positioned to
take advantage due to its distillate yield, which was 33% in
third-quarter 2019 (3Q19), and sizable coking capacity, which can
run large amounts of discounted residual fuel oil and heavy crudes.
Fitch believes IMO rules will have a positive effect on operators
of complex refineries, although the magnitude of the benefit and
how long it takes the market to adjust are uncertain.

Unfavorable Regulatory Headwinds: U.S. refiners face several
unfavorable regulatory headwinds that will cap long-term demand for
U.S. refined products, 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 regulations
are expected to limit growth in domestic product demand and keep
the industry reliant on exports to maintain full utilization. The
Trump administration, however, has eased several regulations,
including small refinery waivers for the RFS programs, which
resulted in a sharp drop in renewable identification numbers (RIN)
prices that benefitted all refiners, as well as recent proposals to
ease fuel administrative action. PBF Holding's 2018 RIN costs
declined to $143.9 million from $293.7 million in 2017 and $347.5
million in 2016. Reversals of these steps, however, are possible
under a different administration.

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
was in 2009, when collapsing oil prices and lagging costs led
industry margins to collapse. The rebound in market conditions was
relatively quick, however, as the industry tends to adjust
rapidly.

PBF Logistics Relationship: PBFX is a fee-based master limited
partnership established by PBF in 2014 to acquire, own and operate
crude oil and refined products logistics assets. PBF Energy Company
LLC indirectly owns 48% of PBFX and 100% of PBF Holding, as of
Sept. 30, 2019. PBF Holding and PBFX have entered into a series of
transactions in which PBF Holding contributed certain assets to PBF
Energy Company LLC, which in turn contributed those assets to PBFX.
PBF Energy Company LLC received cash that was eventually
contributed to PBF Holding. Although Fitch expects similar
transactions will occur in the future, PBFX's stated strategy is to
expand through organic growth and acquisition of third-party
assets. Although the operations of PBF Holding and PBFX are
intertwined, the companies have separate boards of directors.

Conservative Financial Policy: PBF Holding's financial policy is to
maintain target leverage of debt/capitalization below 40%. Fitch
anticipates the acquisition of the Martinez Refinery will be
financed with 50% debt, with the remainder funded through cash on
hand and potential asset sales.

Relationship with PBF Energy: PBF Holding is a subsidiary of PBF
Energy Company LLC, a holding company of PBF Holding and a 48%
ownership in PBFX. PBF Energy Company LLC is owned 99% by PBF
Energy Inc. (NYSE: PBF) and 1% by management. PBF Holding typically
distributes cash to PBF Energy to fund tax payments and dividends.
PBFX also sends its 48% share of distributions to PBF Energy, which
can be used to cover a portion of the tax payments and
distributions. PBF Energy has no debt.

DERIVATION SUMMARY

PBF Holding's ratings reflect its status as an independent refiner,
although it does not have non-refinery operations such retail,
unlike Marathon Petroleum Corporation (BBB/Stable), which can
reduce cash flow volatility. PBF Holding's crude capacity of 1.041
million bpd pro forma for the Martinez acquisition is mid-range. It
is significantly smaller than Marathon (3 million bpd) and Valero
Energy Corporation (BBB/Stable; 2.6 million bpd), but larger than
HollyFrontier Corporation (BBB-/Stable; 457,000 bpd) and CITGO
Petroleum Corp. (B; 749,000 bpd). PBF Holding is believed to be the
nation's most complex independent refiner, with a weighted average
Nelson complexity index of 12.8. This compares with Valero at 11.4.
PBF Holding has solid geographic diversification, with a refinery
in every PADD other than PADD 4. PBF Holding's EBITDA margins are
well below those of Marathon, Valero and HollyFrontier, reflecting
the lack of non-refinery operations as well as the effect of its
exposure to different regional crack spreads. PBF Holding's
debt/EBITDA of 1.8x at Sept. 30, 2019, which was in line with
Valero's 2.0x and HollyFrontier's 1.9x.

KEY ASSUMPTIONS

West Texas Intermediate oil price of $57.50 in 2019 and 2020 and
$55.00 long term;

Crack spreads are at the average of last five years;

Throughput is expected to be constant throughout the forecast
period, with the exception of the Martinez Refinery added in 2020;

Operating expenses are forecast to increase 2% annually;

Capex is expected to be $650 million in 2019, $600 million in 2020
and $675 million in the long term, reflecting the Martinez
acquisition;

FCF is expected to be accumulated as cash to use for potential
acquisitions;

Fitch expects PBF Holding will use a combination of high-yield debt
and cash on hand to finance the Martinez acquisition.

RATING SENSITIVITIES

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

Successful completion and integration of the Martinez Refinery
acquisition, including realization of synergies;

Greater scale and geographic diversification;

Sustained debt/EBITDA at or below 2.0x;

Sustained lease adjusted FFO gross leverage at or below 2.5x.

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

A change in financial policy that includes greater use of debt in
acquisitions or greater contributions to its parent to fund share
repurchases or higher dividends;

Sustained debt/EBITDA above 3.0x;

Sustained lease adjusted FFO gross leverage at or above 3.5x.

LIQUIDITY AND DEBT STRUCTURE

Robust Liquidity: PBF Holding had cash on hand of $467 million and
availability under its revolver of $1,586 million with no
borrowings on its revolver as of Sept. 30, 2019. The maximum
commitment on the revolving credit agreement is $3.4 billion and an
accordion feature allows for commitments up to $3.5 billion. The
revolver matures in May 2023. The single financial covenant is a
consolidated fixed-charge coverage ratio of not less than 1.00:1
that is not triggered until liquidity is less than 10% of the
borrowing base.

PBF Holding has historically exhibited significant working capital
swings, driven by volatility in crude and refined product prices
and M&A activity. The revolver is adequately sized to provide for
these draws. PBF Holding's liquidity options are also enhanced by
potential dropdowns to PBFX.

The maturity schedule is manageable. Pro forma for the proposed
note offering, the next significant maturity is the revolver in May
2023.

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 of the way
in which they are being managed by the entity.

PBF Holding has an ESG Relevance Score of 4 for Exposure to
Environmental Impacts due to the potential of operational
disruptions from extreme weather events, including PBF Holding's
exposure to hurricanes on the Gulf Coast through its Chalmette
refinery, which has a negative effect on the credit profile, and is
relevant to the rating in conjunction with other factors.


PBF HOLDING: Moody's Assigns B1 Rating to Sr. Unsec. Notes
----------------------------------------------------------
Moody's Investors Service assigned B1 ratings to PBF Holding
Company LLC senior unsecured notes.

Assignments:

Issuer: PBF Holding Company LLC

Senior Unsecured Notes, Assigned B1 (LGD5)

RATINGS RATIONALE

The new notes are rated at the same level as the existing 2023 and
2025 senior guaranteed unsecured notes of PBF and one notch below
PBF's Ba3 Corporate Family Rating, reflecting the size and strong
collateral package of the revolving credit facility. The revolver
is secured by liquid assets, including deposit accounts, accounts
receivable, and all hydrocarbon inventory to which PBF holds
title.

The placement of new notes comes ahead of the closing of the $970
million acquisition of Shell's Martinez refinery, expected in Q1
2020, which is pending regulatory approvals. Moody's expects that
the company will use proceeds from the new notes as well as its
substantial cash balances to fund the acquisition. Moody's
maintains a negative outlook on all ratings of PBF reflecting
operating and financial risks associated with the acquisition of
the refinery.

Improving operating performance at the existing refineries allowed
PBF to strengthen its leverage position even as margins were highly
volatile in 2019. At September 30, 2019, PBF's leverage stood at
around 25% RCF/ debt. Moody's expects that the agreed acquisition
will add to earnings and free cash flow generation of PBF, while
new borrowing will limit further improvement. Future deleveraging
will be primarily driven by organic improvement in operating cash
flows, that will depend on the ability of PBF to deliver strong
operating performance from the acquired refinery in 2020.

PBF's Ba3 corporate family rating is supported by the significant
size of the operations and relatively high complexity of the
refineries, that will be further enhanced by the acquisition. PBF
profitability, however, remains consistently below its peers with
similar high complexity of the refineries.

Weaker operating performance, additional borrowing or increased
distributions to shareholders, leading to RCF/debt declining below
15%, as well as weaker liquidity, including as a result of larger
working capital outflows or one-off events, such as a termination
of inventory intermediation agreement, may lead to the downgrade of
the ratings.

PBF's ratings may be upgraded if the company demonstrates improved
profitability and cash flow generation and balanced distributions
to shareholders, such that it is able to maintain a consistently
neutral FCF position and RCF/debt above 25%.

PBF maintains adequate liquidity reflected in its SGL-3 liquidity
rating. This assessment is supported by the expectation that the
company will continue to have good access to credit from its
trading partners. As with any refining business, PBF relies on
external liquidity sources to fund its sizable working capital
requirements. PBF needs to finance a significant inventory of crude
oil, intermediaries and refined products.

As of September 2019, PBF reported $467 million in balance sheet
cash and had $233 million outstanding in LCs under the revolver
facility. The revolver due August 2023 has a total commitment of
$3.4 billion, but the borrowing base was estimated by the company
to be around $1.6 billion, which is the amount that governs the
maximum utilization of the facility. The facility has a single
financial maintenance covenant, a minimum fixed charge coverage
ratio of 1.1x, applicable only when availability drops under
certain levels. PBF and its two refining subsidiaries Delaware City
Refining and Paulsboro Refining, also use an inventory
intermediation facility with J.Aron. The facility matures in 2021.
Under the terms of the facility, J.Aron purchased hydrocarbon
inventory from PBF and its refining subsidiaries, while inventory
is stored at the facilities rented by J.Aron from PBF. When PBF
sells the inventory, J.Aron sells it back to the refineries. The
facility helps PBF to fund working capital requirements of the two
refineries representing around 40% of the company's capacity.

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


PBF HOLDING: S&P Rates New $1BB Senior Unsecured Notes 'BB'
-----------------------------------------------------------
S&P Global Ratings assigned its 'BB' issue-level rating and '3'
recovery rating to PBF Holding Co. LLC's proposed $1 billion senior
unsecured notes due 2028. The '3' recovery rating indicates its
expectation of meaningful (50%-70%; rounded estimate: 65%) recovery
in the event of a default.

The company intends to use the net proceeds to fund a portion of
the upcoming acquisition of the Martinez refinery from an affiliate
of Royal Dutch Shell and to refinance the $500 million of senior
notes due 2023. S&P expects the acquisition to modestly improve
PBF's size and scale, while credit measures remain in line with the
rating. As of Sept. 30, 2019, PBF Holding had about $1.26 billion
of debt outstanding.

PBF Holding Co. LLC is a U.S.-based refining company with assets
located on the East Coast, Midcontinent, Gulf Coast, and West
Coast. PBF owns five refineries with a combined capacity of
approximately 884,000 barrels per day (bpd) and a weighted average
Nelson Complexity of 12.2. PBF Holding is a subsidiary of PBF
Energy Inc. The Martinez acquisition will add approximately 157,000
bpd of refining capacity and increase the weighted average Nelson
Complexity to 12.8.



PESTOVA HOLDINGS: Asks Court for Access to Cash Collateral
----------------------------------------------------------
Pestova Holdings, LLC, asked the Bankruptcy Court to authorize use
of the cash collateral of Velocity Commercial Capital, Inc. c/o
Nationstar Mortgage LLC dba Mr. Cooper.

Velocity Commercial asserts an interest in the cash proceeds from
the operation of the Debtor's business, pursuant to a mortgage,
deed of trust with vendor's lien, semi-annual adjustable term note
and bill of sale dated on or about November 15, 2019 executed by
Debtor in the current outstanding principal amount of approximately
$126,000.  

Debtor proposes to use the cash collateral in the approximate
yearly amount of $352,092 to operate its real property development
business, pay conduit mortgage payments, professional fees, taxes,
payroll, and other necessary expenses.   The Debtor estimated total
expenses for the month of January 2020 at $29,244.11, including
$10,146.38 in mortgages, $7,671.77 in salaries and wages and $3,800
in professional fees and commissions.  A copy of the three-month
income and expense projection through March 2020 is available for
free at https://is.gd/ebmrgx from PacerMonitor.com.

As adequate protection, Debtor proposes to pay on-going mortgage
payments to Velocity Commercial in the amount of $1,586.63 and
continue to keep current mortgage arrears in the approximate amount
of $126,000 or in amounts to be determined as required by the deed
of trust and the requisite proof of claim.

A copy of the motion is available free of charge at
https://is.gd/OkNTOp from PacerMonitor.com.

                    About Pestova Holdings

Pestova Holdings, LLC, which operates a real property development
business,  sought Chapter 11 protection (Bankr. S.D. Tex. Case No.
19-36737) on Dec. 3, 2019, in Houston, Texas in order to stay the
non-judicial foreclosure sale of a certain business real property.
The Hon. Christopher Lopez oversees the case.  Aguinaga &
Associates is the Debtor's counsel.


PESTOVA HOLDINGS: Gets Interim OK to Use Cash Collateral
--------------------------------------------------------
Judge Christopher Lopez authorized Pestova Holdings, LLC to use
cash collateral through January 22, 2020 pursuant to the approved
budget.

The Court directed the Debtor to pay on-going mortgage payments to
Velocity Commercial Capital, Inc c/o Nationstar Mortgage LLC d/b/a/
Mr. Cooper in the amount of $1,586.63, as adequate protection for
Velocity Commercial's interest and to continue to keep current on
the mortgage account in the approximate amount of $126,000.

A final hearing on the use of cash collateral is set for January
21, 2020 at 10:00 a.m. (CT).  Objections must be filed by January
17, 2020 at 5:00 p.m. (CT).

A copy of the Interim Order is available at https://is.gd/o1Zlhj
from PacerMonitor.com at no charge.

                   About Pestova Holdings

Pestova Holdings, LLC, which is in the real property development
business, sought Chapter 11 protection (Bankr. S.D. Tex. Case No.
19-36737) on Dec. 3, 2019 in Houston, Texas in order to stay the
non-judicial foreclosure sale of a certain business real property.
The Hon. Christopher Lopez oversees the case.  Aguinaga &
Associates is the Debtor's counsel.  



PHUONG NAM: Jan. 28. 2020 Plan & Disclosures Hearing Set
--------------------------------------------------------
On Dec. 24, 2019, Debtor Phuong Nam Vietnamese Restaurant, LLC
filed with the U.S. Bankruptcy Court for the Northern District of
New York an Amended Small Business Disclosure Statement and an
Amended Chapter 11 Small Business Plan.

On Dec. 26, 2019, Judge Diane Davis conditionally approved the
Disclosure Statement and established the following dates and
deadlines:

  * Jan. 21, 2020, is fixed as the last day for filing written
acceptances or rejections of the Amended Plan.

  * Jan. 28, 2020, is the hearing on the final approval of the
Amended Disclosure Statement and confirmation of the Amended Plan
to be held at the United States Bankruptcy Court, Alexander Pirnie
Federal Building, 10 Broad Street, Utica, New York 13501.

  * Jan. 21, 2020, is the deadline to file written objections to
the Amended Disclosure Statement and to confirmation of the Amended
Plan.

  * Jan. 28, 2020, is the deadline to file complaints objecting to
the discharge of the Debtor.

A full-text copy of the Order is available at
https://tinyurl.com/vgh48r7 from PacerMonitor.com at no charge.

The Debtor is represented by:

       Peter A. Orville
       ORVILLE & MCDONALD LAW, PC
       30 Riverside Drive
       Binghamton, NY 13905

           About Phuong Nam Vietnamese Restaurant

Phuong Nam Vietnamese Restaurant, LLC, sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. N.D.N.Y. Case
No.19-60132) on Jan. 31, 2019. At the time of the filing, the
Debtor was estimated assets of less than $50,000 and liabilities of
less than $500,000. Peter A. Orville, Esq., is the Debtor's
bankruptcy attorney. No official committee of unsecured creditors
has been appointed in the case.


PIXELLE SPECIALTY: Moody's Reviews B2 CFR for Upgrade
-----------------------------------------------------
Moody's Investors Service placed the ratings of Pixelle Specialty
Solutions, LLC, including the B2 corporate family rating, under
review for upgrade due to an expected acquisition of two specialty
paper mills from Verso Corporation (unrated) for $400 million,
including the assumption of a $35 million pension liability. The
transaction is credit positive because it improves Pixelle's
operational diversity, increases its vertical integration into
pulp, and adds new specialty products and end markets. Credit
metrics will remain strong, even after the issuance of additional
debt. Pixelle is financing the acquisition with approximately $50
million of cash, about $80 million of cash equity contribution from
the sponsor, and a $255 million incremental term loan. The
transaction is subject to shareholder approval on January 31. The
agreement includes a $15 million termination fee. If approved, the
transaction is expected to close in the first quarter of 2020.

Ratings under review for upgrade:

Issuer: Pixelle Specialty Solutions LLC

Probability of Default Rating at B2-PD

Corporate Family Rating at B2

Senior Secured Term Loan at B2 (LGD4)

Senior Secured Revolving Credit Facility at B2 (LGD4)

Outlook Actions:

Issuer: Pixelle Specialty Solutions LLC

Outlook, Changed to Rating Under Review from Stable

RATINGS RATIONALE

The B2 CFR reflects Pixelle's current small scale with limited
operational diversity (two mills) and significant exposure (over
50% of tonnes sold) to the graphic paper market which is in secular
decline and is facing renewed pricing pressures. The Verso mill
acquisition will help alleviate this constraint by doubling
operational diversity to four mills, increasing paper production to
1.4 million tons from 730 thousand tons, and increasing sales to
almost $1.4 billion from $813 million on a 9/30/19 LTM basis.

The review for upgrade reflects an expected improvement in credit
profile due to the acquisition, while maintaining strong credit
metrics with debt/EBITDA as adjusted by Moody's rising to 3.2x in
the twelve months ended September 30, 2019, from 2.2x. The review
is focused on the integration risk and potential margin improvement
at the mills that Pixelle plans to acquire. If the transaction is
approved, Moody's will likely update Pixelle's rating one notch.

The company's rating is constrained by a history of operational
difficulties at one mill, event risk associated with private equity
ownership, and exposure to volatile pulp costs. The rating is
supported by the company's leading position in a number of niche
markets with above GDP growth rates such as high speed inkjet
paper, engineered products, and now release papers and thermal
labels. Other positive credit factors include its vertically
integrated operations (93% self-sufficient in pulp after the
acquisition) and projected strong free cash flow generation.
Pixelle holds leading market positions in a number of niche
segments, such as greeting card, high speed inkjet paper and
carbonless. After the acquisition, the company will expand its
specialty portfolio with leading positions in areas such as release
papers and thermal labels.

Moody's expects Pixelle Specialty Solutions to have good liquidity
over the next 12-18 months to support operations. The company is
not expected to have significant amount of cash on hand, pro form
for the acquisition, but Moody's expects it to generate free cash
flow in 2020. Moody's expects that the company's $60 million
(increased from $40 million) revolving credit facility due in 2023
will remain undrawn at the close of the transaction. Annual
amortization is 2.5% in 2020, stepping up to 5% in each year
thereafter, which can be covered from the projected free cash flow.
The term loan facility includes a free cash flow sweep. The credit
agreement includes a total net leverage ratio covenant of 4.25x,
stepping down to 4.00x in March of 2020 and 3.75x in March of 2021.
Moody's expects the company to maintain significant headroom under
the covenant. All assets are encumbered by the credit facilities
leaving no sources of alternative liquidity.

Moody's could upgrade the rating if the Verso transaction is
completed as expected while still maintaining strong credit
metrics; with debt/EBITDA sustained below 3.5x, (retained cash flow
-- capex)/debt above 8%, and continued good liquidity. Moody's
could downgrade the rating with expectations for adjusted financial
leverage sustained above 5.0x, negative free cash flow, or a
substantive deterioration in liquidity. Further, distributions to
the sponsor or step-out acquisitions could be viewed as credit
negative.

Domiciled in Spring Grove, Pennsylvania, Pixelle Specialty
Solutions is a manufacturer of carbonless, specialty papers,
commercial print and envelopes. The company is the former specialty
paper division of P.H. Glatfelter, which was acquired by Lindsay
Goldberg. Pro forma for the Verso transaction, the company
generated revenue of $1.4 billion in the twelve months ended
September 30, 2019.

The principal methodology used in these ratings was Paper and
Forest Products Industry published in October 2018.


PIXELLE SPECIALTY: S&P Hikes ICR to 'B' on Paper Mills Acquisition
------------------------------------------------------------------
S&P Global Ratings raised its issuer credit rating on U.S.-based
Pixelle Specialty Solutions LLC to 'B' from 'B-'.

The upgrade follows Pixelle's entry into a definitive agreement to
acquire two specialty paper mills from Verso Corp. for about $365
million.  The company will fund the acquisition with about $50
million of cash on hand, a $255 million incremental term loan, and
an about $80 million cash equity contribution from Lindsay
Goldberg.

Meanwhile, S&P raised its issue-level rating on the company's term
loan and revolver to 'B' from 'B-'. The '3' recovery rating remains
unchanged.

Pixelle increases its exposure to the specialty paper end markets.
Following this acquisition, Pixelle will have greater exposure to
the value-added specialty paper end markets than to the
commodity-based end markets. Specifically, about 69% of the
company's volume will be exposed to the growing non-cyclical
specialty paper end markets pro forma for the acquisition, which
compares with about 54% in 2018. Pro forma for the acquisition,
Pixelle's specialty paper sales will account for about 76% of its
revenue, which is up from 65% previously. The company's paper and
pulp capacity will also increase by about 90% and 85%,
respectively, due to the acquisition. S&P believes this added
exposure will improve its assessment of the company's business risk
because the specialty paper end markets are expanding and are
linked to the growth in e-commerce, with end-market growth rates
varying from about 1% for food and beverage labels to about 15% for
high-speed inkjet.

The stable outlook on Pixelle reflects S&P's expectation for EBITDA
of between $120 million and $135 million in 2020, which is up from
the rating agency's estimate of about $95 million for 2019 due to
the company's acquisition of two specialty paper mills.
Consequently, S&P anticipates that the company will have debt to
EBITDA of about 3.7x and EBITDA interest coverage of about 4.5x in
2020.

"We could lower our rating on Pixelle if its leverage approaches
6x, the demand for carbonless paper declines by more than we
expect, and the growth in the demand for other specialty paper is
insufficient to offset an at least 350 basis point (bps) decline in
its gross margin. We could also lower our rating if the company is
unable to generate positive free cash flow, which would potentially
limit its financial flexibility and weaken its liquidity position.
Although less likely, we could lower our rating if Pixelle's
financial sponsor, Lindsay Goldberg, adopts a more-aggressive
financial policy with regard to debt-financed acquisitions or
dividend distributions," S&P said.

"We view an upgrade as unlikely in the next 12 months unless the
company makes a major shift away from the declining carbonless
paper market and provides a strong commitment to maintain moderate
financial policies. However, we could raise our ratings on Pixelle
if it reduces its debt to EBITDA below 3x and maintains it at this
level supported by its improved profitability as the company shifts
toward higher-margin specialty paper. In addition, the operating
performance of its newly acquired mills would need to be within our
expectations and it would have to achieve our base-line forecast
before we would raise our rating," the rating agency said.


PNW HEALTHCARE: May Continue Using Cash Collateral Until Feb. 11
----------------------------------------------------------------
Judge Mary Jo Heston of the U.S. Bankruptcy Court for the Western
District of Washington authorized PNW Healthcare Holdings LLC and
its affiliates to use all Cash Collateral through and including
Feb. 11, 2020 pursuant to the terms and conditions of the Third
Interim Order.

The approved budget provides total operating disbursements of
approximately $15,988,144 during the period of Jan. 18 to Feb. 29,
2020.

The Debtors will maintain appropriate insurance with respect to
their assets, and the Debtors will maintain all necessary and
appropriate licensing with respect to operating the Debtors'
facilities consistent with prepetition practices and/or applicable
laws and regulations.

MidCap, for its own benefit and for the benefit of the MidCap
Prepetition Lenders, the Canyon Landlords, Ziegler, and each
Additional Secured Party, are granted continuing valid, binding,
enforceable, non-avoidable and automatically perfected
post-petition security interests in and liens on all property of
the Debtors and their estates, in each case, to the same nature,
extent, validity, and priority as existed prior to the Petition
Date with respect to the Prepetition Collateral, as it applies to
the respective Prepetition Secured Party, including property
acquired by the Debtors and their estates after the Petition Date.

MidCap, for its own benefit and for the benefit of the MidCap
Prepetition Lenders, the Canyon Landlords, Ziegler, and each
Additional Secured Party, are also granted allowed superpriority
administrative expense claims, to the extent provided by sections
503(b) and 507(b) of the Bankruptcy Code, in these Chapter 11 Cases
and any Successor Case.

The Debtors are authorized and directed to provide adequate
protection payments to MidCap and the MidCap Prepetition Lenders in
the form of weekly payments in an amount equal to interest at the
non-default contract rate under the MidCap Prepetition Credit
Documents.

                           Milestones

     (a) Not later than Jan. 24, 2020, the Debtors will deliver to
MidCap, the Canyon Landlords, Ziegler, the U.S. Attorney's Office
and the U.S. Department of Justice representing the U.S. Department
of Housing and Urban Development, and the Committee an Operating
Plan for the financial reorganization of the Debtors' business.

     (b) To the extent that the Debtors' projected net cash
receipts are less than their projected net disbursements for any
period after April 1, 2020, such that the Debtors are unable to
meet their operational and non-operational expenses on a
going-forward basis, Dovi Jacobs will make or cause to be made a
good-faith proposal from a financially capable source on or before
Feb. 10, 2020 to fund the Deficit. However, if Mr. Jacobs does not
make such a Proposal by the Proposal Date, the Debtors will cause
such a Proposal to be made by the Proposal Date in order to satisfy
the milestone.

A further Interim Hearing on the Cash Collateral Motion is
scheduled for Feb. 10, 2020 at 10:00 a.m. Objections are due no
later than Feb. 5 at 11:59 p.m.

A full-text copy of the Order is available at

http://bankrupt.com/misc/wawb19-43754-178.pdf

                      About PNW Healthcare

PNW Healthcare Holdings, LLC and other subsidiaries of Aldercrest
Health & Rehabilitation Center --
http://www.aldercrestskillednursing.com/-- are providers of
long-term skilled nursing care and short-term rehabilitation
solutions.  On Nov. 22, 2019, the Debtors filed Chapter 11
petitions (Bankr. W.D. Wa. Lead Case No. 19-43754) in Seattle,
Wash.  

At the time of the filing, PNW Healthcare had estimated assets of
less than $50,000 and liabilities of between $1 million and $10
million.  

Judge Christopher M. Alston oversees the cases.  

The Debtors tapped Foley & Lardner LLP as lead bankruptcy counsel;
D. Bugbee & Scalia, PLLC as co-counsel with Foley; Getzler Henrich
& Associates LLC as financial advisor; and Omni Agent Solutions as
notice, claims and balloting agent, and as administrative advisor.

Gregory Garvin, acting U.S. trustee for Region 18, appointed
creditors to serve on the official committee of unsecured creditors
on Dec. 12, 2019.  The committee tapped Pepper Hamilton LLP as
bankruptcy counsel, and Bush Kornfeld LLP as local counsel.


POCMONT PROPERTIES: Employs Spence Law Office as Counsel
--------------------------------------------------------
Pocmont Properties, LLC seeks permission from the U.S. Bankruptcy
Court for the Eastern District of New York to employ Spence Law
Office, P.C., as its counsel in this Chapter 11 case.

The professional services that will be rendered in this proceeding
are:

(a)  To give the Debtor guidance with respect to its power and
responsibility as a debtor-in-possession in the continued
management of its property;

(b)  To attend creditors' meetings and Section 341 hearings;

(c)  To negotiate with creditors of the Debtor in formulating a
plan of reorganization and to take the necessary legal steps in
order to institute plans of reorganization;

(d)  To aid the Debtor in the preparation and drafting of
disclosure statement;

(e)  To prepare on behalf of the Debtor all necessary petitions,
reports, applications, orders and other legal papers;

(f)  To appear before the United States Bankruptcy Court and
represent the Debtor in all matters pending before the Court; and

(g)  To perform all legal services that may be necessary and
appropriate.

The hourly rates for Spence Law Office are:

     Partners at $450.00 per hour;

     Associates/of counsel attorneys at
        $325.00 to $475.00 per hour; and

     Paralegals at $100.00 per hour.

Prior to the filing date, Spence Law Office received a retainer in
the aggregate amount of $26,717.00 that was paid by the related
entity, Bushkill One Hospitality, Inc.  The retainer includes the
$1,717.00 filing fee for the Chapter 11 case.  Bushkill operates
the hotel at the Debtor's property in the Poconos, Pennsylvania.

The Debtor desires to employ Spence Law Office under an advance
retainer because of the extensive legal services required.

To the best of the Debtor's knowledge, information and belief,
Spence Law Office represents no interest adverse to the Debtor or
its estate and is a disinterested person as that term is defined by
11 U.S.C. section 101(14).

The law firm may be reached at:

     Robert J. Spence, Esq.
     Spence Law Office, P.C.
     55 Lumber Road, Suite 5
     Roslyn, NY 11576
     Tel: (516) 336-2060
     Fax: (516) 605-2084

                 About Pocmont Properties, LLC

Pocmont Properties, LLC classifies its business as Single Asset
Real Estate (as defined in 11 U.S.C. Section 101(51B)).  Its
princial assets are located at 1 Bushkill Falls Road Bushkill, PA
18324.

The Debtor filed for Chapter 11 bankruptcy protection (Bankr. E.D.
N.Y. Case No. 19-45566) on September 17, 2019.  The Hon.  Nancy
Hershey Lord oversees the case.

In its petition, the Debtor estimated $1 million to $10 million in
both assets and liabilities.  The petition was signed by Saul
Kessler, manager.

The Debtor is represented by Robert J. Spence, Esq., at Spence Law
Office, P.C.

The Company previously filed a bankruptcy petition (Bankr. D.N.J.
Case No. 14-16493) on April 2, 2014.



PROTECH METAL: Gets Interim Cash Collateral Access Thru June 30
---------------------------------------------------------------
Judge Suzanne H. Bauknight authorized Protech Metal Finishing to
use cash collateral through June 30, 2020, pursuant to the budget.

The approved budget provided for $106,139.50 for the month of
January 2020, including $47,000 in payroll to non-members and
$18,000 for utilities.  

As adequate protection for the use of, and any diminution in the
value of, the collateral:

   (a) Pinnacle Bank and Southeast Community Capital Corporation
dba Pathway Lending will receive replacement security interests
under Section 361(2) of the Bankruptcy Code in the Debtor's
post-petition property and proceeds thereof to the same extent and
priority as their respective purported security interests in the
Debtor's pre-petition property and proceeds.

   (b) the Debtor will pay Pinnacle pre-confirmation adequate
protection payments at $200 monthly, which will be applied to the
principal balance of any allowed secured claim Pinnacle is later
determined to hold.

The Court will convene to consider any objections on January 23,
2020 at 10 a.m. EST.  Absent any objections being filed on or
before January 15, 2020, the interim order shall be a
self-executing, final order.

A copy of the interim order is available at https://is.gd/5pVdxP
from PacerMonitor.com at no charge.  

                About Protech Metal Finishing

Protech Metal Finishing, LLC -- https://protechfinishing.com/ -- is
a woman-owned full-service metal finishing company founded in 1980.
Protech is housed in a 32,000 square foot facility on 10 acres in
Vonore, Tennessee.  Protech services a large customer base in the
aerospace, defense, industrial, medical and automotive industries.

Protech Metal Finishing sought Chapter 11 protection (Bankr. E.D.
Tenn. Case No. 19-32732) on Aug. 26, 2019, Knoxville, Tennessee.
In the petition signed by CEO Phillip Michael Huddleston, the
Debtor wes estimated to have assets and liabilities at $1 million
to $10 million.  Dunham Hildebrand, PLLC is counsel to the Debtor.


REGIONAL SITE: Seeks to Hire Hal Surrat as Accountant
-----------------------------------------------------
Regional Site Solutions, Inc., seeks authority from the U.S.
Bankruptcy Court for the Middle District of North Carolina to
employ Hal Surrat, CPA, PC, as accountant to the Debtor.

Regional Site requires Hal Surrat to assist the Debtor in the
preparation of tax returns.

Hal Surrat will be paid at these hourly rates:

     Hal Surrat             $195
     Bookkeeping            $135
     Staffs                  $95
     Clericals               $75

Hal Surrat will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Hal Surrat, partner of Hal Surrat, CPA, 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.

Hal Surrat can be reached at:

     Hal Surrat
     HAL SURRAT, CPA, PC
     11544 N. Main St.
     Archdale, NC 27263
     Tel: (336) 861-4024

                 About Regional Site Solutions

Regional Site Solutions, Inc., is a privately held company that
operates in the surfacing and paving business.

Regional Site Solutions sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. M.D.N.C. Case No. 19-11191) on Oct. 28,
2019.  At the time of the filing, the Debtor was estimated to have
assets of between $500,000 and $1 million and liabilities of
between $1 million and $10 million.  The case is assigned to Judge
Lena M. James. Dirk W. Siegmund, Esq., at Ivey, McClellan, Gatton &
Siegmund, LLP, is the Debtor's legal counsel.



RILEY DRIVE ENTERTAINMENT: Voluntary Chapter 11 Case Summary
------------------------------------------------------------
Debtor: Riley Drive Entertainment XIX, LLC
           d/b/a Ignite Wood Fire Grill
        16804 W 89th Street
        Lenexa, KS 66219

Business Description: Riley Drive Entertainment XIX, LLC is a
                      privately held company that owns and
                      operates restaurants.

Chapter 11 Petition Date: January 15, 2020

Court: United States Bankruptcy Court
       District of Kansas

Case No.: 20-40046

Judge: Hon. Dale L. Somers

Debtor's Counsel: Adam M. Mack, Esq.
                  MACK & ASSOCIATES, LLC
                  2850 SW Mission Woods Drive
                  Topeka, KS 66614-5616
                  Tel: 888-506-7029

Estimated Assets: $100,000 to $500,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Scott William Anderson, LLC managing
member.

The Debtor failed to include in the petition a list of its 20
largest unsecured creditors.

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

                    https://is.gd/z5BSHX


ROMANS HOUSE: Seeks to Hire DeMarco Mitchell as Counsel
-------------------------------------------------------
Romans House, LLC, and its debtor-affiliates seek authority from
the U.S. Bankruptcy Court for the Northern District of Texas to
employ DeMarco Mitchell, PLLC, as counsel to the Debtor.

Romans House requires DeMarco Mitchell to:

   a. take all necessary action to protect and preserve the
      Estate, including the prosecution of actions on its behalf,
      the defense of any actions commenced against it,
      negotiations concerning all litigation in which it is
      involved, and objecting to claims;

   b. prepare on behalf of the Debtor all necessary motions,
      applications, answers, orders, reports, and papers in
      connection with the administration of the estate herein;

   c. formulate, negotiate, and propose a plan of reorganization;
      and

   d. perform all other necessary legal services in connection
      with these proceedings.

DeMarco Mitchell will be paid at these hourly rates:

        Attorneys            $300 to $350
        Paralegals               $125

DeMarco Mitchell commenced representation of the Debtor, Romans
House, LLC, on Dec. 8, 2019.  To date, a retainer of $15,000 has
been paid to DeMarco Mitchell on behalf of Romans. Romans is the
source of the compensation paid to DeMarco Mitchell to date.
DeMarco Mitchell has incurred fees of $3,675, costs and expenses of
$0, and filing fees of $1,7170 prior to the Petition Date. The
remaining balance held in trust by DeMarco Mitchell is $9,608.

DeMarco Mitchell commenced representation of Healthcore System
Management, LLC, on December 8, 2019. To date, a retainer of
$10,000 has been paid to DeMarco Mitchell on behalf of Healthcore.
Healthcore is the source of the compensation paid to DeMarco
Mitchell to date. DeMarco Mitchell has incurred fees of $3,045,
costs and expenses of $0, and filing fees of $1,717 prior to the
Petition Date. The remaining balance held in trust by DeMarco
Mitchell is $5,238.

DeMarco Mitchell will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Robert T. DeMarco, a partner at DeMarco Mitchell, 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.
DeMarco Mitchell can be reached at:

         Robert T. DeMarco, Esq.
         Michael S. Mitchell, Esq.
         DEMARCO MITCHELL, PLLC
         1255 W. 15th Street, 805
         Plano, TX 75075
         Tel: (972) 578‐1400
         Fax: (972) 346‐6791
         E-mail: robert@demarcomitchell.com
                 mike@demarcomitchell.com

                      About Romans House

Based in Forth Worth, Texas, Romans House, LLC, operates Tandy
Village Assisted Living, a continuing care retirement community and
assisted living facility for the elderly in Fort Worth, Texas.
Affiliate Healthcore System Management, LLC, operates Vincent
Victoria Village Assisted Living, also an assisted living facility
for the elderly.

Romans House, LLC, and Healthcore System sought Chapter 11
protection (Bankr. N.D. of Tex. Case No. 19-45023 and 19-45024) on
Dec. 9, 2019.  Romans House was estimated to have $1 million to $10
million in assets and liabilities while Healthcore was estimated to
have $1 million to $10 million in assets and $10 million to $50
million in liabilities. The Hon. Edward L. Morris is the case
judge.  DEMARCO MITCHELL, PLLC, is the Debtors' counsel.


S C BHAIRAB INC: Seeks Access to Regions Bank Cash Collateral
-------------------------------------------------------------
S.C. Bhairab, Inc., requests the U.S. Bankruptcy Court for the
Northern District of Texas to allow use of cash collateral, while
providing adequate protection to the legitimate interests of
Regions Bank.

The Debtor will provide adequate protection to Regions Bank
consisting of a continuing lien on post-petition acquired cash
collateral to the same extent and priority as held by Regions Bank
prior to Debtor's Chapter 11.

                     About S C Bhairab Inc.

S C Bhairab, Inc. --
https://matlock-dry-clean-super-center.business.site -- is a
provider of drycleaning and laundry services.

Based in Arlington, Texas, S C Bhairab filed a voluntary petition
for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D.
Tex. Case No. 19-45097) on Dec. 17, 2019. In the petition signed by
Ram Gamal, president, the Debtor  disclosed $1,403,335 in assets
and $1,158,605 in liabilities.  Robert M. Nicoud, Jr., Esq., at
Nicoud Law, is the Debtor's legal counsel.


SAEXPLORATION HOLDINGS: Nasdaq Grants Extension to file Reports
---------------------------------------------------------------
SAExploration Holdings, Inc. previously received notices from the
Listing Qualifications Department of the Nasdaq Stock Market LLC on
Aug. 16, 2019 and Nov. 19, 2019 stating that because the Company
had not timely filed its Quarterly Reports on Form 10-Q for the
quarterly periods ended June 30, 2019 and Sept. 30, 2019, the
Company is not in compliance with Nasdaq Listing Rule 5250(c)(1),
which requires listed companies to timely file all required public
financial reports with the Securities and Exchange Commission.

On Jan. 10, 2020, the Company received a letter from Nasdaq stating
that, based on Nasdaq's further review and the materials submitted
to Nasdaq by the Company, Nasdaq has granted the Company an
extension to file the Delinquent Filings and regain compliance with
the Listing Rule on or before Feb. 11, 2020.

                   About SAExploration Holdings

SAE -- http://www.saexploration.com/-- is an international
oilfield services company offering a full range of
vertically-integrated seismic data acquisition, data processing and
interpretation, and logistical support services throughout North
America, South America, Asia Pacific, Africa and the Middle East.
In addition to the acquisition of 2D, 3D, time-lapse 4D and
multi-component seismic data on land, in transition zones and
offshore in depths reaching 3,000 meters, SAE offers a full suite
of data processing and interpretation services utilizing its
proprietary, patent-protected software, and also provides in-house
logistical support services, such as program design, planning and
permitting, camp services and infrastructure, surveying, drilling,
environmental assessment and reclamation, and community relations.
With its global headquarters in Houston, Texas, SAE supports its
operations through a multi-national presence in the United States,
United Kingdom, Canada, Peru, Colombia, Bolivia, Malaysia,
Singapore, and Australia.

SAExploration reported a net loss attributable to the company of
$83.60 million in 2018 following a net loss attributable to the
company of $40.75 million in 2017.  As of March 31, 2019, the
Company had $191.71 million in total assets, $68.92 million in
total current liabilities, $95.70 million in long-term debt and
finance leases, $5.90 million in other long-term liabilities, and
$21.18 million in total stockholders' equity.

SAExploration has not yet filed its Quarterly Reports on Form 10-Q
for the quarter ended June 30, 2019, and Sept. 30, 2019.
SAExploration received a notice on Nov. 19, 2019, from the Listing
Qualifications Department of the Nasdaq Stock Market LLC stating
that because the Company had not timely filed its Quarterly Report
on Form 10-Q for the quarterly period ended Sept. 30, 2019 and
because the Company remains delinquent in filing its Quarterly
Report on Form 10-Q for the quarterly period ended June 30, 2019,
the Company is not in compliance with Nasdaq Listing Rule
5250(c)(1), which requires listed companies to timely file all
required public financial reports with the Securities and Exchange
Commission.


SAEXPLORATION HOLDINGS: Sells Seismic Data & Related Assets to TGS
------------------------------------------------------------------
SAExploration, Inc., a wholly-owned subsidiary of SAExploration
Holdings, Inc., ALASKAN Seismic Ventures LLC (Sellers) and
TGS-NOPEC Geophysical Company ASA (TGS), on Jan. 10, 2020, entered
into an Asset Purchase Agreement for the Aklaq and Kuukpik Surveys,
and SAE and TGS entered into an Asset Purchase Agreement for the
CRD Surveys.  Pursuant to the Purchase Agreements, the Sellers sold
seismic data and related assets for the Aklaq, Kuukpik and CRD
Surveys to TGS.

Pursuant to the Aklaq/Kuukpik Purchase Agreement, the Sellers
agreed to sell the portion of the Assets to TGS for a purchase
price payable as follows: (i) $14.5 million paid to SAE on behalf
of the Sellers in cash on the Closing Date, and (ii) earn-out
payments in an amount of up to $5 million to be paid to SAE on
behalf of the Sellers based on the licensing fees related to the
licensing of the Aklaq/Kuukpik Survey Data following the Closing
Date in an amount in excess of $15 million of licensing fees.  The
Aklaq/Kuukpik Purchase Agreement also provides TGS with a right of
first refusal to purchase certain assets from the Sellers for a
period of four years following the Closing Date.
Pursuant to the CRD Purchase Agreement, SAE agreed to sell the
portion of the Assets for a purchase price of $500,000 paid to SAE
in cash on the Closing Date.

The Purchase Agreements contains certain representations and
warranties regarding the capacity of the parties to enter into the
Purchase Agreements and to consummate the transactions contemplated
thereunder, as well as with respect to the ownership of the
Assets.

The Sellers have generally agreed to indemnify TGS for breaches of
warranties contained in the Aklaq/Kuukpik Purchase Agreement and
SAE has generally agreed to indemnify TGS for breaches of
warranties contained in the CRD Purchase Agreement, in each case
subject to certain survival periods and other limitations.  In
addition, under the Aklaq/ Kuukpik Purchase Agreement, the Sellers
have retained all liabilities relating to periods prior to the
Closing Date, and under the CRD Purchase Agreement, SAE has
retained all liabilities relating to periods prior to the Closing
Date.

                       Sellers' Agreement

In connection with their entry into the Aklaq/Kuukpik Purchase
Agreement, the Sellers entered into an agreement with respect to
the Sellers' post-closing indemnification obligations under the
Aklaq/Kuukpik Purchase Agreement.  The Sellers' Agreement also
provides that SAE will receive all of the proceeds paid or payable
under the Aklaq/Kuukpik Purchase Agreement, which proceeds will be
credited by SAE towards outstanding amounts owed to it by ASV.

               Amendments to Debt Financing Agreements

In connection with the entry into the Purchase Agreements and the
consummation of the transactions thereunder, the Company, SAE and
certain of the Company's other subsidiaries entered into the
following amendments to the Company's debt financing agreements, in
order to, among other things, consent to and permit the
consummation of the transactions contemplated under the Purchase
Agreements and the Sellers' Agreement, to release liens on the
Assets, and to provide for the application of the net proceeds of
the Purchase Agreements to repay a portion of outstanding
indebtedness:

   * Amendment No. 6 to the Third Amended and Restated Credit and
     Security Agreement dated as of Jan. 10, 2020, by and among
     SAExploration, Inc., as the borrower, the Company, the
     guarantors party thereto, and certain lenders constituting
     the Required Lenders thereunder;

   * Amendment No. 10 to the Term Loan and Security Agreement
     dated as of Jan. 10, 2020, by and among the Company, the
     guarantors party thereto, and certain lenders constituting
     the Required Lenders thereunder; and

   * Second Supplemental Indenture dated as of Jan. 10, 2020, by
     and among the Company, the guarantors party thereto,
     Wilmington Savings Fund Society, FSB, as trustee and
     collateral trustee, and the holders party thereto.

                  Amendment to Warrant Agreement

On Jan. 13, 2020, the Company entered into an amendment to that
certain Warrant Agreement dated as of Dec. 11, 2019, by and between
the Company and Continental Stock Transfer & Trust Company, a New
York corporation, as warrant agent.  The Warrant Agreement
Amendment revised the definition of "Shareholder Approval"
contained in the Warrant Agreement.

                    About SAExploration Holdings

SAE -- http://www.saexploration.com/-- is an international
oilfield services company offering a full range of
vertically-integrated seismic data acquisition, data processing and
interpretation, and logistical support services throughout North
America, South America, Asia Pacific, Africa and the Middle East.
In addition to the acquisition of 2D, 3D, time-lapse 4D and
multi-component seismic data on land, in transition zones and
offshore in depths reaching 3,000 meters, SAE offers a full suite
of data processing and interpretation services utilizing its
proprietary, patent-protected software, and also provides in-house
logistical support services, such as program design, planning and
permitting, camp services and infrastructure, surveying, drilling,
environmental assessment and reclamation, and community relations.
With its global headquarters in Houston, Texas, SAE supports its
operations through a multi-national presence in the United States,
United Kingdom, Canada, Peru, Colombia, Bolivia, Malaysia,
Singapore, and Australia.

SAExploration reported a net loss attributable to the company of
$83.60 million in 2018 following a net loss attributable to the
company of $40.75 million in 2017.  As of March 31, 2019, the
Company had $191.71 million in total assets, $68.92 million in
total current liabilities, $95.70 million in long-term debt and
finance leases, $5.90 million in other long-term liabilities, and
$21.18 million in total stockholders' equity.

SAExploration has not yet filed its Quarterly Reports on Form 10-Q
for the quarter ended June 30, 2019, and Sept. 30, 2019.
SAExploration received a notice on Nov. 19, 2019, from the Listing
Qualifications Department of the Nasdaq Stock Market LLC stating
that because the Company had not timely filed its Quarterly Report
on Form 10-Q for the quarterly period ended Sept. 30, 2019 and
because the Company remains delinquent in filing its Quarterly
Report on Form 10-Q for the quarterly period ended June 30, 2019,
the Company is not in compliance with Nasdaq Listing Rule
5250(c)(1), which requires listed companies to timely file all
required public financial reports with the Securities and Exchange
Commission.


SANA INDUSTRIES: Congressional Gets 100% with Interest in 10 Years
------------------------------------------------------------------
Sana Industries, Inc., amended its Disclosure Statement to provide
changes to the proposed treatment of the secured claims under its
reorganization plan.

Congressional Bank, N.A, filed a secured claim on Jan. 30, 2019,
asserting a balance of $136,362.15 due on its claim (Class 4),
secured by a first priority Purchase Money Deed of Trust executed
by the Debtor and recorded among the Land Records of Prince
George's County, Maryland.  On Nov. 20, 2019, Congressional
notified the Debtor that the balance due on its Claim had increased
to $172,602.48.

The Debtor shall pay the allowed amount of the Claim of
Congressional, together with interest thereon, in monthly payments
beginning on the Effective Date over a term of 120 months, at an
interest rate of 5% per annum, provided that the Debtor may prepay
all or part of the remaining balance at any time.  In the event the
Congressional Claim is allowed in the full amount sought, the
Debtor estimated payments of principal and interest thereon shall
be approximately $1,830 per month.

Like in the prior iteration of the Disclosure Statement, the
Amended Disclosure Statement provides that holders of Allowed
Unsecured Claims totaling approximately $63,000 will share,
pro-rata, in the new value contribution made by Sheba Gopaul, and
then shall receive additional monthly distributions commencing 30
days after the Effective Date over the ensuing 24 months of an
amount sufficient to pay such claims in full, without interest.

In August, 2019, the Debtor negotiated a 10-year commercial lease
with a family medical care provider entitled Suresh C. Gupta MD PA.
Suresh C. Gupta MD PA is the name of a business entity owned and
operated by Dr. Gezzer Ortega, an individual not affiliated with
the Debtor. The entity shall rent both of the units comprising the
Property.  On Sept. 17, 2019, Ortega executed the Lease on behalf
of the provider and began rent payments under the Lease.  The Lease
is a "gross" lease, and Ortega is required to make payments of
$5,000 per month under the Lease, but is not obligated to pay any
addition common area expenses or other charges to the Debtor in
excess of its base rent.  With the agreement of the Debtor, Ortega
is making cosmetic changes to the Property.  It is expected to
occupy the Property in early 2020., and thereafter to continue to
pay monthly rent over the Lease term.

A black-lined copy of the Amended Disclosure Statement dated
December 18, 2019, is available at https://tinyurl.com/rar38jo from
PacerMonitor.com at no charge.

Counsel for the Debtor:

     Augustus T. Curtis
     COHEN BALDINGER & GREENFELD, LLC
     2600 Tower Oaks Boulevard, Suite 103
     Rockville, Maryland 20852
     Tel: (301) 881-8300

                   About Sana Industries

Sana Industries, Inc., owns and manages a commercial property
consisting of two adjacent office condominium units located at 8347
& 8349 Cherry Lane, Laurel, MD 20707 within the Laurel Lakes
Executive Park Condominiums.

Sana Industries, Inc., sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Md. Case No. 18-26225) on Dec. 10, 2018.
At the time of the filing, the Debtor was estimated to have assets
of less than $500,000 and liabilities of less than $1 million.  The
case has been assigned to Judge Lori S. Simpson.  COHEN BALDINGER &
GREENFELD, LLC, is the Debtor's counsel.


SAND CASTLE: Unsecureds Payout to Depend on Outcome of Sales
------------------------------------------------------------
Sand Castle South Timeshare Owners Association, Inc., filed a
Chapter 11 plan that provides for the liquidation of the assets of
the estate, in conjunction with the sale of its condominiums.  The
sale of the Condominiums will provide the source of payment to
creditors.

The Plan treats claims as follows:

   * Class 1 secured claim of Horry County, South Carolina.
IMPAIRED. Class 1 will be paid in full from the sale of the
Condominiums, at the closing of the sale of the property. The
payment to Class 1 will be made from the gross sale proceeds, prior
to separating the funds into the Association Funds and the Active
Owners’ Funds.

   * Class 2 non-priority unsecured claims against the Association.
IMPAIRED. Total claim $783,925.24. Class 2 will receive payment on
a pro rata basis of the Association Funds, after payment of the
costs of sale and the costs of this case. The amount and timing of
the payment to Class 1 is undetermined at this time.  The amount
and timing will depend on (1) the sale price received for the
Condominiums, (2) the timing of the sale, and (3) the costs
incurred in this case.

   * Class 3 consists of the claims of the former timeshare owners
who are Active Owners. IMPAIRED. Class 3 claims will receive
payment from the Association Funds only if a surplus of such funds
remains (the "Remainder Funds") after payment of the
Association’s Class 1 and Class 2 creditors. Payment of any
Remainder Funds will be made on a pro rata basis to the Class 3
members.

   * Class 4 consists of the claims of former timeshare owners who
are Delinquent Owners. IMPAIRED. Class 4 will receive no payment.
Instead, the indebtedness of the Delinquent Owners to the
Association will be set off against any portion of the sale
proceeds of the Condominiums which would otherwise be payable to
the Delinquent Owners, with the Association retaining such funds
and including them in the Association Funds.

   * Class 5 consists of the owner interests of the former
timeshare owners in the Association. IMPAIRED. Class 5 will receive
no interests or value for the ownership interests in the
Association. The ownership interests will be cancelled effective
upon confirmation of the Plan. The ownership interests in the
Association has no value.


A full-text copy of the Disclosure Statement dated December 18,
2019, is available at https://tinyurl.com/wnyvvp7 from
PacerMonitor.com at no charge.

Attorneys for the Debtor:

     JULIO E. MENDOZA, JR.
     NEXSEN PRUET, LLC
     1230 Main Street, Suite 700 (29201)
     Post Office Box 2426
     Columbia, SC 29202
     Telephone: 803-540-2026
     E-mail: rmendoza@nexsenpruet.com

              About Sand Castle South Timeshare
                    Owners Association

Sand Castle South Timeshare Owners Association, Inc., is a
not-for-profit corporation created to manage, operate and maintain
a 40-unit timeshare condominium resort in the Sand Castle South
condominium building located at 2207 South Ocean Boulevard, Myrtle
Beach, South Carolina.

The Association filed a Chapter 11 bankruptcy petition (Bankr.
D.S.C. Case No. 19-02764) on May 22, 2019, disclosing under $1
million in both assets and liabilities.  The Debtor is represented
by Julio E. Mendoza Jr., Esq., at Nexsen Pruet LLC.


SCORPION FITNESS: Seeks to Hire Marcum LLP as Accountant
--------------------------------------------------------
Scorpion Fitness, Inc., and its debtor-affiliates seek authority
from the U.S. Bankruptcy Court for the Southern District of New
York to employ Marcum LLP, as accountant to the Debtors.

Scorpion Fitness requires Marcum LLP to:

   a. advise the Debtors with respect to their financial affairs
      during the pendency of the Chapter 11;

   b. assist in cash flow monitoring and reporting;

   c. assist in the preparation of monthly operating reports;

   d. provide assistance with the development of various aspects
      of the plan of reorganization and disclosure statement;

   e. act as a liaison with creditor groups; and

   f. perform all other accounting services for the Debtors that
      may be necessary and proper for an effective
      reorganization.

Marcum LLP will be paid at these hourly rates:

     Gary B. Rosen                $580
     Nitasha J. Giardina          $460
     Lia N. Tonietti              $215
     Alexander J. Ware            $110

Marcum LLP will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Nitasha J. Giardina, a senior manager of Marcum LLP, assured the
Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and does not
represent any interest adverse to the Debtors and their estates.

Marcum LLP can be reached at:

     Nitasha J. Giardina
     MARCUM LLP
     750 3rd Avenue, 11th Floor
     New York, NY 10017
     Tel: (212) 485-5500
     Fax: (212) 485-5501

                     About Scorpion Fitness

Scorpion Fitness Inc., own a high-end boutique gym located at 220
Fifth Avenue, New York, NY.  Scorpion Fitness filed a Chapter 11
bankruptcy petition (Bankr. S.D.N.Y. Case No. 19-11231) on April
22, 2019, disclosing under $1 million in both assets and
liabilities.  The Debtor hired Kevin J. Nash, Esq., at Goldberg
Weprin Finkel Goldstein LLP, as bankruptcy counsel, and Kushnick
Pallaci PLLC, as special construction law counsel.


SEABRAS 1 USA: Hires Stretto as Administrative Advisor
------------------------------------------------------
Seabras 1 USA, LLC, and its debtor-affiliates seek authority from
the U.S. Bankruptcy Court for the Southern District of New York to
employ Stretto, as administrative advisor to the Debtors.

Seabras 1 USA requires Stretto to:

   a. assist with, among other things, claims management and
      reconciliation, plan solicitation, balloting,
      disbursements, and tabulation of votes, and prepare any
      related reports, as required in support of confirmation of
      a chapter 11 plan, and in connection with such services,
      process requests for documents from parties in interest,
      including, if applicable, brokerage firms, bank back-
      offices and institutional holders;

   b. prepare an official ballot certification and, if necessary,
      testify in support of the ballot tabulation results;

   c. assist with the preparation of the Debtors' schedules of
      assets and liabilities and statements of financial affairs
      and gather data in conjunction therewith;

   d. provide a confidential data room, if requested;

   e. manage and coordinate any distributions pursuant to a
      chapter 11 plan; and

   f. provide such other processing, solicitation, balloting and
      other administrative services described in the Engagement
      Agreement, but not included in the Section 156(c)
      Application, as may be requested from time to time by the
      Debtors, this Court or the Office of the Clerk of the
      U.S. Bankruptcy Court for the Southern District of New
      York.

Stretto will be paid based upon its normal and usual hourly billing
rates. Stretto will be paid a retainer in the amount of $25,000.

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

Sheryl Betance, a managing director of Stretto, 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.

Stretto can be reached at:

     Sheryl Betance
     STRETTO
     7 Times Square, 16th Floor
     New York, NY 10036
     Tel: (714) 716-1872
     E-mail: sheryl.betance@stretto.com

                      About Seabras 1 USA

Seabras 1 Bermuda LLC, and its wholly owned subsidiary Seabras 1
USA LLC, together with their other subsidiaries, are the owners of
a fiber optic cable system between New York USA and Sao Paulo
Brazil known as Seabras-1. Seabras-1 itself is fully operated by
Seaborn Networks, a leading developer-owner-operator of submarine
fiber optic cable systems.

Seabras 1 Bermuda LLC, and its wholly owned subsidiary Seabras 1
USA LLC, filed a Chapter 11 petition (Bankr. S.D.N.Y. Lead Case No.
19-14006) on Dec. 22, 2019.  In the petition signed by CEO Larry W.
Schwartz, the Debtors were estimated to have $50 million to $100
million in assets and $100 million to $500 million in liabilities.


The Debtors tapped BRACEWELL LLP as counsel; BARBOSA MUSSNICH
ARAGAO as local counsel; and STRETTO as claims agent.  


SELFRIDGE PARTNERS: To Seek Approval of Plan on Jan. 21
-------------------------------------------------------
Selfridge Partners, LLC, will seek confirmation on Jan. 21, 2020 of
a Chapter 11 plan that will be funded by available cash of
$26,125.00 and future disposable income.  The Debtor will fund the
Plan primarily through the income received from the operation of
the Property.

According to the Amended Disclosure Statement, the Plan treats
claims in this manner:

   * Class 1: First Mortgage on 28901 Selfridge Drive Property.
IMPAIRED. The principal debt on this claim is $487,961.24 as of
November 22, 2019. This Claim shall be paid in accordance with the
terms of the current promissory note or any modification agreement
related thereto.

   * Class 2: Second Mortgage on 28901 Selfridge Drive Property.
IMPAIRED. The principal debt on this claim is $449,201.72 as of
September 7, 2017. Wells Fargo's claim will either: receive
$250,000 from BSI in full settlement, or be re-amortized to be paid
at 5% interest over thirty (30) years.

   * Class 3 Third Mortgage on 28901 Selfridge Drive Property.
IMPAIRED. The principal debt on this claim is $2,000,000 as of
Sept. 4, 2019.  Hunter Pendleton and Colton Pendleton's claims will
be paid in accordance with the terms of the current promissory note
except they will be subordinate to post-petition financing to
implement the plan.

   * Class 4: Priority Unsecured Claims.  These types of claims are
entitled to priority treatment as follows: the Code requires that
each holder of such a claim receive cash on the Effective Date
equal to the allowed amount of such claim. The Debtor is not aware
of any such claims.

   * Class 5: General Unsecured Claims.  General unsecured claims
are unsecured claims not entitled to priority under 11 U.S.C. Sec.
507(a).  The Debtor is not aware of any such claims.

A full-text copy of the First Amended Disclosure Statement dated
Dec. 18, 2019, is available at https://tinyurl.com/upfzq4w from
PacerMonitor.com at no charge.

Attorneys for Selfridge Partners:

     William E. Winfield
     NELSON COMIS KETTLE & KINNEY LLP
     300 E. Esplanade Drive, Suite 1170
     Oxnard, California 93036-0238
     Telephone: (805) 604-4106
     Facsimile: (805) 604-4150
     E-mail: wwinfield@calattys.com

                    About Selfridge Partners

Selfridge Partners owns in fee simple interest a rental property (a
single-family dwelling at 28901 Selfridge Drive, Malibu, CA 90265)
valued at $2.50 million.

Selfridge filed a Chapter 11 petition (Bankr. C.D. Cal. Case No.
17-11618) on Sept. 7, 2017. In the petition signed by Candace C.
Pendleton, its managing member, the Debtor disclosed $2.50 million
in assets and $4.90 million in liabilities.  Judge Peter Carroll
oversees the case.  Nelson Comis Kettle & Kinney LLP is currently
serving as the Debtor's counsel.  Simon Resnik Hayes LLC had
previously represented the Debtor as bankruptcy counsel.


SUMMIT TERMINAL: Seeks to Hire Steadman Law as Counsel
------------------------------------------------------
Summit Terminal, LLC, seeks authority from the U.S. Bankruptcy
Court for the District of South Carolina to employ Steadman Law
Firm, P.A., as counsel to the Debtor.

Summit Terminal requires Steadman Law to:

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

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

   c. assist in the preparation of a Disclosure Statement and
      Plan of Reorganization.

Steadman Law will be paid at these hourly rates:

     Attorneys            $385
     Paralegals           $85

Steadman Law has been paid by the Debtor a retainer of $22,000, of
which $5,000 was applied to legal fees and expenses, and $1,717 as
filing fee.

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

Richard A. Steadman, Jr., a partner at Steadman Law Firm, 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.

Steadman Law can be reached at:

     Richard A. Steadman, Jr., Esq.
     STEADMAN LAW FIRM, P.A.
     6296 Rivers Avenue, Suite 102
     Charleston, SC 29406
     Tel: (843) 529-1100
     E-mail: rsteadman@steadmanlawfirm.com

                     About Summit Terminal

Summit Terminal, LLC, is engaged in activities related to real
estate whose principal assets are located at 5104 N. Ocean Blvd
Myrtle Beach, SC 29572. The company previously sought bankruptcy
protection on July 18, 2019 (Bankr. D. N.J. Case No. 19-23948).

Summit Terminal, based in New York, NY, filed a Chapter 11 petition
(Bankr. D.S.C. Case No. 20-00093) on Jan. 6, 2020.  In the petition
signed by Franklin I. Ogele, president, the Debtor was estimated to
have $1 million to $10 million in both assets and liabilities.
Richard A. Steadman, Jr., Esq., at Steadman Law Firm, P.A., serves
as bankruptcy counsel to the Debtor.


SUPERMOOSE NEWCO: S&P Alters Outlook to Neg., Affirms 'B-' ICR
--------------------------------------------------------------
S&P Global Ratings revised its outlook on Lake Mary, Fla.-based
public safety and administration software provider SuperMoose Newco
Inc. (doing business as CentralSquare Technologies) to negative
from stable and affirmed its 'B-' issuer credit rating. At the same
time, S&P affirmed its 'B' issue-level rating on the company's
first-lien debt and its 'CCC' issue-level rating on its second-lien
term loan.

The negative outlook reflects that the company has continued to
underperform S&P's expectations, including by generating negative
FOCF in 2019 due to business disruptions and integration issues.
The negative outlook reflects S&P's expectation that CentralSquare
will generate negative FOCF in the high-$60 million area in 2019,
which is significantly worse than the rating agency had previously
forecast. The company continues to experience issues with its
accounts receivable collection, which has caused its day sales
outstanding (DSO) to remain high. Some of these issues include
distractions stemming from the merger that are negatively affecting
its teams, its disparate cash collection process and higher than
expected integration costs. CentralSquare's capital spending
requirements were also greater than S&P expected as the company
made further investments in its software. S&P expects
CentralSquare's capital expenditure (capex) to increase to about
the low-$30 million area and anticipate that its FOCF will be
negative in the high-$60 million area in 2019."

The negative outlook on CentralSquare reflects S&P's expectation
that the company will generate negative FOCF for 2019 due to its
underperformance related to business disruptions and the
integration problems it has experienced since its three-way merger
in 2018. Specifically, the company is generating negative FOCF due
to high one-time costs, cash collection problems, and declining
revenue from its professional services segment, which will force it
to continue to draw on its revolver.

"We could lower our rating on CentralSquare Technologies if we
believe its capital structure has become unsustainable. This could
occur if the company continues to generate negative FOCF due to
issues with its working capital or new restructuring costs. This
could also occur if it continues to experience business disruptions
that affect its revenue and EBITDA, competitive pressures from
larger competitors, slowing product innovation, declining new
license sales, or a reduction in software spending by state and
local government customers because of an economic downturn that
reduces their tax revenue," S&P said.

"We could revise our outlook CentralSquare Technologies to stable
if it stabilizes its business performance such that its EBITDA
improves and it generates modest positive FOCF in 2020. We would
also need to believe that the company would generate positive FOCF
in the $15 million-$20 million range in 2021. This could occur if
it continues to increase its revenue on new logo wins or if it
stabilizes its professional services revenue and successfully
completes its cost-savings plan," the rating agency said.


THOC, PA: Hires Eric A. Liepins as its Counsel
----------------------------------------------
THOC, PA seeks permission from the U.S. Bankruptcy Court for the
Northern District of Texas to employ Eric A. Liepins and the law
firm of Eric A. Liepins, P.C., as counsel for the Debtor.

The Debtor believes a variety of legal matters exist as to the
assets and liabilities of the estate which require legal
assistance.

Eric A. Liepins attests that the Firm does not presently or hold or
represent any interest adverse to the interest of the Debtor or
this Estate and is disinterested within the meaning of 11 U.S.C.
section 101(14) to the best of his knowledge, information, and
belief.

The Firm has been paid a retainer of $5,000, plus the filing fee.

The compensation to be paid to the Firm shall be based upon these
hourly rates:

     Eric A. Liepins at $275.00 per hour
     Paralegals and Legal Assistants at $30.00-50.00 per hour

The law firm may be reached at:

     Eric A. Liepins, Esq.
     ERIC A. LIEPINS, P.C.
     12770 Coit Road Suite 1100
     Dallas, TX 75251
     Tel: (972) 991-5591
     Fax: (972) 991-5788

                            About THOC,PA

THOC, PA filed a voluntary Chapter 11 petition (Bankr. N.D. Tex.
Case No. 19- 34237) on December 30, 2019, and is represented by
Eric A. Liepins, Esq., at Eric A. Liepins, P.C.



TOUCH OF HEAVEN: Seeks to Hire Bates and Hausen as Counsel
----------------------------------------------------------
Touch of Heaven Ministries Inc., seeks authority from the U.S.
Bankruptcy Court for the Northern District of Ohio to employ Bates
and Hausen, LLC, as counsel to the Debtor.

Touch of Heaven requires Bates and Hausen to:

   a. give the Debtor legal advice with respect to its power and
      duties in the continued operation of the business and
      management of its property;

   b. prosecute any necessary litigation on behalf of the Debtor;

   c. represent the Debtor in connection with all matters that
      may be filed in this Court;

   d. prepare on behalf of the Debtor all petitions,
      applications, answers, orders, reports and other papers and
      pleadings; and

   e. perform all other legal services for the Debtor which may
      be necessary in this proceeding.

Bates and Hausen will be paid at these hourly rates:

           Attorneys          $250
           Paralegals          $75

Bates and Hausen will also be reimbursed for reasonable
out-of-pocket expenses incurred.

James F. Hausen, a partner at Bates and Hausen, 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.

Bates and Hausen can be reached at:

     James F. Hausen, Esq.
     BATES AND HAUSEN, LLC
     215 E. Waterloo Rd, Suite 17
     Akron, OH 44319
     Tel: (234) 678-0626
     Fax: (234) 678-0638

                 About Touch of Heaven Ministries

Touch of Heaven Ministries, Inc., based in Akron, OH, filed a
Chapter 11 petition (Bankr. N.D. Ohio Case No. 19-53062) on Dec.
31, 2019.  The Hon. Alan M. Koschik is the presiding judge.
Charles Tyler, Esq., serves as bankruptcy counsel to the Debtor.
In the petition signed by Godess Clemons, chairwoman, Board of
Directors, the Debtor disclosed $1,517,368 in assets and $1,688,729
in liabilities.  The Debtor hired Bates and Hausen, LLC, as
counsel.


UNITED AIRLINES: Moody's Affirms Ba2 CFR & Alters Outlook to Pos.
-----------------------------------------------------------------
Moody's Investors Service affirmed its ratings assigned to United
Airlines Holdings, Inc., including the Ba2 corporate family, Ba2-PD
probability of default, Baa3 senior secured and Ba3 senior
unsecured. Moody's also affirmed its ratings on 31 of the 32 of the
company's Enhanced Equipment Trust Certificates it rates, except it
downgraded the Class A of the UAL 2015-1 with scheduled final
payment date of June 1, 2025 to A2 from A1. The rating outlook was
changed to positive from stable.

"Operationally, 2020 is likely to be a replay of 2019 for United
Airlines," said Moody's Senior Vice President and lead analyst,
Jonathan Root.

"Ongoing network optimization focused on the mid-continent hubs,
improving service delivery and ongoing cost management initiatives
should hold margins steady in 2020 in light of cost growth
pressures and as long as US GDP growth is at least in line with
Moody's Macroeconomic Board's expectation of 1.7% for 2019,"
continued Root.

The positive outlook reflects expected benefits of United's strong
business profile and execution of its current network strategy
which should sustain good operating cash flow in upcoming years.
Moody's also expects that the US airlines will continue to
emphasize earning acceptable returns on invested capital, which
will lead to capacity reductions and cost management when economic
growth slows to mitigate downwards pressure on earnings and cash
flows.

RATINGS RATIONALE

The Ba2 corporate family rating reflects United's favorable
business profile as the third largest US and global airline based
on revenue and the benefits to earnings of the improvements in
service delivery and operational reliability of the past 24 months.
The grounding of Boeing's 737 MAX modestly crimped execution of
United's fleet and network strategy in 2019 and led to higher free
cash flow because of lower capital expenditures. Investment will
meaningfully increase in 2020, particularly if the US Federal
Aviation Administration ungrounds the MAX in the first half of
2020. The rating considers that free cash flow will materially
decline in 2020 to an estimated about $250 million, with an about
doubling or more in 2021 as investment remains somewhat elevated.
Funded debt will increase modestly because of expected ongoing
share repurchases, with little consequence on credit metrics. Very
good liquidity and expectations of maintaining a disciplined
financial policy also support the Ba2 rating. Ongoing inflation in
non-fuel costs will require disciplined capacity management and
pricing, to limit pressure on margins. A larger trans-Pacific
network can also pressure consolidated results, as occurred in 2019
because of trade war friction.

Moody's estimates debt-to-EBITDA at 3.2x on a Moody's-adjusted
basis at December 31, 2019. Adjusted debt includes a non-standard
adjustment of about $7 billion to capitalize variable rent leases,
which have been excluded from the lease liability the company has
booked pursuant to current lease accounting rules.

The ratings could be upgraded if metrics are at least sustained
near September 30, 2019 levels. Debt to EBITDA of about 3x, Funds
from Operations plus interest to interest of about 6x, and or
retained cash flow to debt of above 22% could support a higher
rating as could expectations of EBITDA margin being sustained above
18%. Cash and short-term investments of about $4 billion and
undrawn revolver of at least $2 billion would also support an
upgrade. The ratings could be downgraded if EBITDA margin is
sustained near or below 17%, free cash flow is negative, cash and
short-term investments fall below $3 billion or undrawn revolver is
below $2 billion. Debt to EBITDA that approaches 4x, Funds from
Operations ("FFO") plus interest to interest that approaches 4.5x
and or retained cash flow to debt falls below 20% could also lead
to a downgrade as could meaningful increases in debt while shares
are repurchased.

The affirmations of the EETC ratings consider the loan-to-values of
the respective transactions and Moody's views of the importance of
the aircraft collateral to the network. The downgrade of the 2015-1
Class A EETC to A2 levels the rating on this transaction with other
Class A's with similar attributes and or loan-to-values.

The methodologies used in these ratings were Passenger Airline
Industry published in April 2018, and Enhanced Equipment Trust and
Equipment Trust Certificates published in July 2018.

United Airlines Holdings, Inc. is the holding company for United
Airlines, Inc. United Airlines and regional operator United Express
operate an average of 4,900 flights a day to 356 airports across
five continents. The company reported $42.9 billion of revenue in
the last 12 months ended September 2019.

The following rating actions were taken:

Affirmations:

Issuer: United Airlines Holdings, Inc.

Corporate Family Rating, Affirmed Ba2

Probability of Default Rating, Affirmed Ba2-PD

Senior Unsecured Shelf, Affirmed (P)Ba3

Senior Unsecured Regular Bond/Debenture, Affirmed Ba3 (LGD5)

Issuer: United Air Lines, Inc. (assumed by United Airlines, Inc.)

Senior Secured Pass-Through, Series 2007-1 Class A, Affirmed Ba1

Issuer: United Airlines, Inc.

Senior Secured Bank Credit Facility, Affirmed Baa3 (LGD2)

Senior Secured Enhanced Equipment Trust, Series 1999-2 Class A-1,
Affirmed Baa1

Underlying Senior Secured Enhanced Equipment Trust, Series 1999-2
Class A-1, Affirmed Baa1

Senior Secured Enhanced Equipment Trust, Series 1999-2 Class B,
Affirmed Baa2

Senior Secured Enhanced Equipment Trust, Series 2000-1 Class A1,
Affirmed Baa1

Senior Secured Enhanced Equipment Trust, Series 2000-1 Class B,
Affirmed Baa2

Senior Secured Enhanced Equipment Trust, Series 2000-2 Class A1,
Affirmed Baa1

Senior Secured Enhanced Equipment Trust, Series 2001-A1, Affirmed
A3

Senior Secured Enhanced Equipment Trust, Series 2005-ERJ1, Affirmed
Ba1

Senior Secured Enhanced Equipment Trust, Series 2010-1 Class A,
Affirmed A2

Senior Secured Enhanced Equipment Trust, Series 2012-1 Class A,
Affirmed A3

Senior Secured Enhanced Equipment Trust, Series 2012-1 Class B,
Affirmed Baa2

Senior Secured Enhanced Equipment Trust, Series 2012-2 Class A,
Affirmed A3

Senior Secured Enhanced Equipment Trust, Series 2012-2 Class B,
Affirmed Baa2

Senior Secured Enhanced Equipment Trust, Series 2015-1 Class AA,
Affirmed Aa3

Senior Secured Enhanced Equipment Trust, Series 2016-1 Class A,
Affirmed A2

Senior Secured Enhanced Equipment Trust, Series 2016-1 Class AA,
Affirmed Aa3

Senior Secured Enhanced Equipment Trust, Series 2016-1 Class B,
Affirmed Baa2

Senior Secured Enhanced Equipment Trust, Series 2016-2 Class A,
Affirmed A2

Senior Secured Enhanced Equipment Trust, Series 2016-2 Class AA,
Affirmed Aa3

Senior Secured Enhanced Equipment Trust, Series 2016-2 Class B,
Affirmed Baa2

Senior Secured Enhanced Equipment Trust, Series 2018-1 Class A,
Affirmed A2

Senior Secured Enhanced Equipment Trust, Series 2018-1 Class AA,
Affirmed Aa3

Senior Secured Enhanced Equipment Trust, Series 2018-1 Class B,
Affirmed Baa2

Senior Secured Enhanced Equipment Trust, Series 2019-1 Class A,
Affirmed A2

Senior Secured Enhanced Equipment Trust, Series 2019-1 Class AA,
Affirmed Aa3

Senior Secured Enhanced Equipment Trust, Series 2019-2 Class A,
Affirmed A2

Senior Secured Enhanced Equipment Trust, Series 2019-2 Class AA,
Affirmed Aa3

Senior Secured Enhanced Equipment Trust, Series 2019-2 Class B,
Affirmed Baa2

Senior Secured Equipment Trust, Series 2007-1 Class A, Affirmed
Baa1

Senior Secured Equipment Trust, Series 2007-1 Class B, Affirmed
Ba1

Issuer: CLEVELAND (CITY OF) OH

Senior Unsecured Revenue Bonds, Affirmed Ba3 (LGD5)

Issuer: Denver (City & County of) CO

Senior Unsecured Revenue Bonds, Affirmed Ba3 (LGD5)

Issuer: Hawaii Department of Transportation

Senior Unsecured Revenue Bonds, Affirmed Ba3 (LGD5)

Issuer: Houston (City of) TX

Senior Unsecured Revenue Bonds, Affirmed Ba3 (LGD5)

Issuer: New Jersey Economic Development Authority

Senior Unsecured Revenue Bonds, Affirmed Ba3 (LGD5)

Downgrades:

Issuer: United Airlines, Inc.

Senior Secured Enhanced Equipment Trust, Series 2015-1 Class A,
Downgraded to A2 from A1

Outlook Actions:

Issuer: United Airlines Holdings, Inc.

Outlook, Changed To Positive From Stable

Issuer: United Airlines, Inc.

Outlook, Changed To Positive From Stable


UNITED METHODIST: Deadline to File Amended Plan Extended to March
-----------------------------------------------------------------
Debtor The United Methodist Village, Inc. filed with the U.S.
Bankruptcy Court for the Southern District of Illinois a motion to
extend the deadline to file an Amended Disclosure and Amended
Plan.

On Dec. 26, 2019, Judge William V. Altenberger granted the motion
and the Debtor will have 90 days from the date of the order to file
an Amended Disclosure and Amended Plan.

A full-text copy of the order dated Dec. 26, 2019, is available at
https://tinyurl.com/vb8cheh from PacerMonitor.com at no charge.

                About The United Methodist Village

The United Methodist Village, Inc., is a non-profit nursing home
based in Lawrenceville, Illinois.

The United Methodist Village filed for bankruptcy protection under
Chapter 11 (Bankr. S.D. Ill. Case No. 19-60046) on Feb. 22, 2019.
In the petition signed by Ashli Wesley, administrator, the Debtor
disclosed $13,779,571 in assets and $7,164,533 in liabilities.  The
case has been assigned to Judge Laura K. Grandy.  Roy J. Dent,
Esq., at Dent Law Office, Ltd., represents the Debtor.


VALLEY TIMBER: Feb. 19, 2020 Disclosure Statement Hearing Set
-------------------------------------------------------------
Paula S. Beran, Tavenner & Beran, PLC, filed with the U.S.
Bankruptcy Court for the Western District of Virginia a Disclosure
Statement and a Plan for Debtor Valley Timber Sales, Inc. dated
Dec. 23, 2019.

On Dec. 24, 2019, Judge Rebecca B. Connelly ordered that:

  * Feb. 19, 2020, at 11:00 a.m. is the hearing to consider the
approval of the Disclosure Statement to be held at US Courthouse,
Room 200, 255 W Main St., Charlottesville, VA 22902.

  * Feb. 12, 2020, is fixed as the last date for filing and serving
in accordance with Rule 3017 (a) written objections to the
Disclosure Statement.

A full-text copy of the order is available at
https://tinyurl.com/yx6jh8z9 from PacerMonitor.com at no charge.

                   About Valley Timber Sales

Valley Timber Sales, Inc., is primarily a wood treating facility
located on Route 15 in Gordonsville, Virginia, directly off
Interstate 64, approximately 18 miles east of Charlottesville,
Virginia, and 50 miles west of Richmond, Virginia.

Valley Timber Sales, Inc., sought Chapter 11 protection (Bankr.
W.D. Va. Case No. 19-60400) on Feb. 26, 2019.  In the petition
signed by Michele Pascarella, president, the Debtor was estimated
to have up to $50,000 in assets and $1 million to $10 million in
liabilities.  The Hon. Rebecca B. Connelly is the case judge.
Paula Steinhilber Beran, and Lynn Lewis Tavenner, at TAVENNER &
BERAN, PLC, in Richmond, Virginia, serve as the Debtor's counsel.



VOYAGEUR ACADEMY: S&P Alters Outlook to Positive
------------------------------------------------
S&P Global Ratings revised its outlook to positive from stable and
affirmed its 'B-' long-term rating on Michigan Finance Authority's
series 2011 public school academy limited obligation revenue bonds,
issued for Voyageur Academy.

"The positive outlook reflects Voyageur Academy's growth in
enrollment in fall 2019 and improving operating performance, which
resulted in a modest surplus in fiscal 2019 and is projected to be
positive again in fiscal year 2020, according to management," said
S&P Global Ratings credit analyst Shivani Singh. It also supports
improved maximum annual debt service coverage, and a moderate
increase in liquidity, which should continue to gradually rise as
operational improvements remain at about fiscal 2019 levels.



WALKER COUNTY: May Borrow up to $5M of DIP Funds on Final Basis
---------------------------------------------------------------
Judge David R. Jones authorized the Debtor to borrow, on a final
basis, up to $5,000,000 from MidCap Financial Trust, as lender and
agent under the Revolving Credit and Security Agreement.  Judge
Jones also authorized the Debtor to use cash collateral pursuant to
the budget.
  
The Court ruled that:

   (a) the DIP lender is granted first priority security interests
and liens (which will immediately be valid, binding, permanent,
continuing, enforceable, perfected and non-avoidable) on all of the
prepetition collateral, including cash collateral, the proceeds
from the sale of the DIP collateral or the prepetition collateral,
accounts receivable, all other unencumbered tangible and intangible
property of the Debtor of the type that is DIP collateral, and all
other rights to payment.  

   (b) subject to the carve-out, all DIP obligations will
constitute an allowed super priority administrative expense claim
with priority in the Chapter 11 case and successor case over all
other administrative expense claims under Sections 364(c)(1),
503(b) and 507(b) of the Bankruptcy Code and otherwise over all
administrative expense claims and unsecured claims against the
Debtor or its estate.

The carve-out consists of:

    (i) all fees required to be paid to the Clerk of the Bankruptcy
Court or to the Office of the U.S. Trustee pursuant to 28 U.S.C.
Section 1930(a)(6),

   (ii) up to $250,000 of allowed and unpaid fees, expenses and
disbursements of professionals retained pursuant to Sections 327 or
1103(a) of the Bankruptcy Code by the Debtor, the Committee, any
statutory committees, patient care ombudsman, trustee, examiner or
other representative or professional appointed in the Chapter 11
Case, incurred after issuance of a notice from the DIP lender of
the occurrence of an event of default plus all Court-allowed
professional fees, expenses and disbursements that were incurred
but remain unpaid prior to the issuance of a carve-Out notice, plus


  (iii) closure costs incurred by the Debtor or any successor
trustee, and associated with the closure of the Debtor’s health
care business in an amount not to exceed $25,000.

The Debtor is authorized to use the advances under the DIP credit
agreement during the period commencing immediately after the entry
of the final order and terminating upon the occurrence of an event
of default and the termination of the DIP credit agreement.  

                 Commitment Termination Date

All DIP obligations of the Debtor to the DIP lender will be
immediately due and payable, and the Debtor's authority to use the
proceeds of the DIP facility and to use cash collateral will cease,
both on the date that is the earliest to occur of: (i) the date
that is 180 days after the closing date, unless extended in the
sole discretion of the DIP lender, pursuant to the DIP Credit
Agreement), or (ii) the date on which the maturity of the DIP
obligations is accelerated and the commitments under the DIP
facility are irrevocably terminated in accordance with the DIP
credit agreement.

              Adequate Protection to Prepetition Lender

Before the Petition Date, the Midcap Funding IV Trust, as
successor-by assignment to MidCap Financial Trust, as agent and
lender (as successor-by-assignment to Healthcare Finance Group,
LLC) provided the Debtor and non-debtor borrower HMH Physician
Organization with a first lien secured revolving credit facility in
the maximum principal amount of $10,000,000.

As adequate protection for the interests of the prepetition lender
in the prepetition collateral (including cash collateral) on
account of the granting of the DIP liens, subordination to the
carve-out, the Debtor's use of cash collateral and any other
diminution in value, the prepetition lender will receive adequate
protection as follows:

   * the prepetition lender is granted continuing valid, binding,
enforceable, non-avoidable and automatically perfected postpetition
security interests in and liens on the DIP collateral, to the
extent of the diminution in value of the interests of the
prepetition lender in the prepetition collateral, junior only to
(i) the carve-out, (ii) the DIP liens and (iii) the permitted
liens;

   * the prepetition lender is granted allowed super priority
administrative expense claims, to the extent provided by Sections
503(b) and 507(b) of the Bankruptcy Code , to the extent of the
diminution in value of the interests of the prepetition lender in
the prepetition collateral, junior only to the carve-out and the
DIP super priority claim.

The Debtor is authorized and directed to provide adequate
protection payments to the prepetition lender in the form of weekly
payments of reasonable, documented fees and expenses of the
prepetition lender, as well as weekly payments under the
prepetition credit documents.

The DIP lender will have the right to "credit bid" the allowed
amount of the DIP obligations during any sale of the DIP collateral
in accordance with the bidding procedures.  

A copy of the agreed final DIP order, including the budget, is
available at https://is.gd/yNDH7g from PacerMonitor.com free of
charge.  

               About Walker County Hospital Corp.

Walker County Hospital Corporation --
https://www.huntsvillememorial.com/ -- operates a community
hospital in Huntsville, Texas.  It is the sole member of its
non-debtor affiliate, HMH Physician Organization.  Founded in
1927, the facility provides health care services to the residents
of Walker County and its surrounding communities.

Walker County Hospital sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Texas Case No. 19-36300) on Nov. 11,
2019.  At the time of the filing, the Debtor disclosed assets of
between $10 million and $50 million and liabilities of the same
range.

The case is assigned to Judge David R. Jones.  

The Debtor tapped Waller Lansden Dortch & Davis, LLP and Morgan,
Lewis & Bockius LLP as bankruptcy counsel; Healthcare Management
Partners, LLC as financial and restructuring advisor; and Epiq
Corporate Restructuring, LLC as claims and noticing agent.


WATERS CAPITAL: Seeks to Hire DeMarco Mitchell as Counsel
---------------------------------------------------------
Waters Capital, LLC, has filed an amended application with the U.S.
Bankruptcy Court for the Northern District of Texas seeking
approval to hire DeMarco Mitchell, PLLC, as counsel to the Debtor.

Waters Capital requires DeMarco Mitchell to:

   a. take all necessary action to protect and preserve the
      Estate, including the prosecution of actions on its behalf,
      the defense of any actions commenced against it,
      negotiations concerning all litigation in which it is
      involved, and objecting to claims;

   b. prepare on behalf of the Debtor all necessary motions,
      applications, answers, orders, reports, and papers in
      connection with the administration of the estate herein;

   c. formulate, negotiate, and propose a plan of reorganization;
      and

   d. perform all other necessary legal services in connection
      with these proceedings.

DeMarco Mitchell will be paid at these hourly rates:

        Attorneys            $300 to $350
        Paralegals               $125

DeMarco Mitchell commenced representation of the Debtor on November
4, 2019. To date, a retainer of $6,717 has been paid to DeMarco
Mitchell on behalf of the Debtor. The Debtor is the source of the
compensation paid to DeMarco Mitchell to date. DeMarco Mitchell has
incurred fees of $1,102.50, costs and expenses of $0, and filing
fees of $1,717 prior to the Petition Date. The remaining balance
held in trust by DeMarco Mitchell is $3,897.50.

DeMarco Mitchell will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Robert T. DeMarco, a partner at DeMarco Mitchell, 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.
DeMarco Mitchell can be reached at:

         Robert T. DeMarco, Esq.
         Michael S. Mitchell, Esq.
         DEMARCO MITCHELL, PLLC
         1255 W. 15th Street, 805
         Plano, TX 75075
         Tel: (972) 578‐1400
         Fax: (972) 346‐6791
         E-mail: robert@demarcomitchell.com
                 mike@demarcomitchell.com

                   About Waters Capital LLC

Waters Capital, LLC, is engaged in activities related to real
estate. The Debtor previously sought bankruptcy protection on Aug.
5, 2019 (Bankr. N.D. Tex. Case No. 19-32586).

Waters Capital filed a voluntary petition for relief under Chapter
11 of the United States Bankruptcy Code (Bankr. N.D. Tex. Case No.
19-33702) on Nov 4, 2019. In the petition signed by Edward E.
Waters, Jr., managing member, the Debtor estimated $1 million to
$10 million in both assets and liabilities. Robert Thomas DeMarco,
Esq. at Demarco-Mitchell, PLLC, represents the Debtor as counsel.



WOMEN'S CENTER: Seeks to Use Cash Collateral
--------------------------------------------
Women's Center of Ft. Lauderdale, LLC, asked permission from the
Bankruptcy Court to use cash collateral in order to continue
operations and to reorganize the business.

ASD Specialty Healthcare, LLC, may assert a first-priority security
interest in the Debtor's accounts and inventory by virtue of a
recorded lien on Debtor's personal property.  As adequate
protection, the Debtor proposes to grant ASD Specialty a
replacement lien to the same validity, extent, and priority as
their respective prepetition liens.

A copy of the motion is available free of charge at
https://is.gd/hbmyh2 from PacerMonitor.com.

            About Women's Center of Ft. Lauderdale

Women's Center of Ft. Lauderdale, LLC operates a clinic offering
surgical and medication abortion procedures.  It filed a Chapter 11
bankruptcy petition (Bankr. M.D. Fla. Case No. 19-08242) on Dec.
18, 2019.  Judge Karen Jennemann is assigned to the case.
Bransonlaw, PLLC, is the Debtor's counsel.




[^] BOOK REVIEW: Hospitals, Health and People
---------------------------------------------
Author:      Albert W. Snoke, M.D.
Publisher:   Beard Books
Softcover:   232 pages
List Price:  $34.95

Order your personal copy today at
http://www.beardbooks.com/beardbooks/hospitals_health_and_people.html


Hospitals, Health and People is an interesting and very readable
account of the career of a hospital administrator and physician
from the 1930's through the 1980's, the formative years of today's
health care system. Although much has changed in hospital
administration and health care since the book was first published
in 1987, Dr. Snoke's discussion of the evolution of the modern
hospital provides a unique and very valuable perspective for
readers who wish to better understand the forces at work in our
current health care system.

The first half of Hospitals, Health and People is devoted to the
functional parts of the hospital system, as observed by Dr. Snoke
between the late 1930's through 1969, when he served first as
assistant director of the Strong Memorial Hospital in Rochester,
New York, and then as the director of the Grace-New Haven Hospital
in Connecticut.  In these first chapters, Dr. Snoke examines the
evolution and institutionalization of a number of aspects of the
hospital system, including the financial and community
responsibilities of the hospital administrator, education and
training in hospital administration, the role of the governing
board of a hospital, the dynamics between the hospital
administrator and the medical staff, and the unique role of the
teaching hospital.

The importance of Hospitals, Health and People for today's readers
is due in large part to the author's pivotal role in creating the
modern-day hospital.  Dr. Snoke and others in similar positions
played a large part in advocating or forcing change in our hospital
system, particularly in recognizing the importance of the nursing
profession and the contributions of non-physician professionals,
such as psychologists, hearing and speech specialists, and social
workers, to the overall care of the patient.  Throughout the first
chapters, there are also many observations on the factors that are
contributing to today's cost of care.  Malpractice is just one
example.  According to Dr. Snoke, "malpractice premiums were
negligible in the 1950's and 1960's.  In 1970, Yale-New Haven's
annual malpractice premiums had mounted to about $150,000."  By the
time of the first publication of the book, the hospital's premiums
were costing about $10 million a year.

In the second half of Hospitals, Health and People, Dr. Snoke
addresses the national health care system as we've come to know it,
including insurance and cost containment; the role of the
government in health care; health care for the elderly; home health
care; and the changing role of ethics in health care.  It is
particularly interesting to note the role that Senator Wilbur Mills
from Arkansas played in the allocation of costs of hospital-based
specialty components under Part B rather than Part A of the
Medicare bill.  Dr. Snoke comments: "This was considered a great
victory by the hospital-based specialists.  I was disappointed
because I knew it would cause confusion in working relationships
between hospitals and specialists and among patients covered by
Medicare.  I was also concerned about potential cost increases.  My
fears were realized.  Not only have health costs increased in
certain areas more than anticipated, but confusion is rampant among
the elderly patients and their families, as well as in hospital
business offices and among physicians' secretaries."  This aspect
of Medicare caused such confusion that Congress amended Medicare in
1967 to provide that the professional components of radiological
and pathological in-hospital services be reimbursed as if they were
hospital services under Part A rather than part of the co-payment
provisions of Part B.

At the start of his book, Dr. Snoke refers to a small statue,
Discharged Cured, which was given to him in the late 1940's by a
fellow physician, Dr. Jack Masur.  Dr. Snoke explains the
significance the statue held for him throughout his professional
career by quoting from an article by Dr. Masur: "The whole question
of the responsibility of the physician, of the hospital, of the
health agency, brings vividly to mind a small statue which I saw a
great many years ago.it is a pathetic little figure of a man, coat
collar turned up and shoulders hunched against the chill winds,
clutching his belongings in a paper bag-shaking, tremulous,
discouraged.  He's clearly unfit for work-no employer would dare to
take a chance on hiring him.  You know that he will need much more
help before he can face the world with shoulders back and
confidence in himself.  The statuette epitomizes the task of
medical rehabilitation: to bridge the gap between the sick and a
job."

It is clear that Dr. Snoke devoted his life to exactly that
purpose.  Although there is much to criticize in our current
healthcare system, the wellness concept that we expect and accept
today as part of our medical care was almost nonexistent when Dr.
Snoke began his career in the 1930's.  Throughout his 50 years in
hospital administration, Dr. Snoke frequently had to focus on the
big picture and the bottom line.  He never forgot the importance of
Discharged Cured, however, and his book provides us with a great
appreciation of how compassionate administrators such as Dr. Snoke
have contributed to the state of patient care today.

Albert Waldo Snoke was director of the Grace-New Haven Hospital in
New Haven, Connecticut from 1946 until 1969.  In New Haven, Dr.
Snoke also taught hospital administration at Yale University and
oversaw the development of the Yale-New Haven Hospital, serving as
its executive director from 1965-1968.  From 1969-1973, Dr. Snoke
worked in Illinois as coordinator of health services in the Office
of the Governor and later as acting executive director of the
Illinois Comprehensive State Health Planning Agency. Dr. Snoke died
in April 1988.



                            *********

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S U B S C R I P T I O N   I N F O R M A T I O N

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Copyright 2020.  All rights reserved.  ISSN: 1520-9474.

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