/raid1/www/Hosts/bankrupt/TCR_Public/200204.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Tuesday, February 4, 2020, Vol. 24, No. 34

                            Headlines

4811 ASSOCIATES: Secured Creditor to Acquire Property in Plan
53 STANHOPE: Court Approves Disclosure Statement
5505 ASSOCIATES: Secured Creditor to Acquire Property in Plan
5507 ASSOCIATES: Secured Creditor to Acquire Property in Plan
A.C. FURNITURE: Case Summary & 20 Largest Unsecured Creditors

A.P. BECK-ANDOVER: AHHC Buying Andover Property for $942K
ACPRODUCTS INC: Moody's Raises CFR to B2, Outlook Stable
ALTA MESA: Asks More Time to Identify Stalking Horse Bidder
AMERICAN WAREHOUSE: Appeals Court Keeps Portion of Fee Judgment
APG SUBS: Unsecureds Owed $1.59M to Get Up to 3% in Amended Plan

API AMERICAS: Case Summary & 20 Largest Unsecured Creditors
APOLLO INVESTMENT: Fitch Cuts LT IDR to BB+, Outlook to Stable
ASTRIA HEALTH: Replacement Financing, Cash Collateral Use Okayed
AYTU BIOSCIENCE: Hudson Bay Capital Reports 3.67% Stake
BAMA OAKS RETIREMENT: Case Summary & 20 Top Unsecured Creditors

BEARCAT ENERGY: Trustee Selling All Assets to Aspen for $2.5K
BED BATH: Moody's Lowers Sr. Unsec. Rating to Ba2, Outlook Stable
BIKRAM'S YOGA: Trustee Proposes Sherriff's Sale of Collector Cars
BLACKROCK CAPITAL: Fitch Affirms BB+ LongTerm IDR, Outlook Stable
BRAND BRIGADE: Unsecureds to Recover 10% in Plan

BROADBAND NATION: Case Summary & 2 Unsecured Creditors
C&S GROUP: Moody's Lowers CFR to Ba3, Outlook Stable
C2R GLOBAL: Quarles & Brady Wins $407,335 in Fees for Patent Work
CARMEL MEDICAL: Khan's Capitol to Take Over Building Lease
CELESTIAL CHURCH: Feb. 26 Hearing on Disclosure Statement

CELESTIAL CHURCH: Plan Payments to be Funded by Future Revenues
COCRYSTAL PHARMA: To Raise $2 Million in Common Stock Offering
COMSALE GROUP: Foreign Rep Sets Procedures for All USA Assets
CONSORTIUM B: Case Summary & 4 Unsecured Creditors
CORETECH INDUSTRIES: Southwest Dynamics Wins Secured Claim Status

DARREN B. MCCORMICK: Foreign Reps' $300K Sale of Roane Property OKd
DATABASEUSA.COM LLC: Plan Mulls $1M Contribution or Sale
DENNIS L. PERRY: Plan Has Partial Payment for Unsecured Creditors
DHM HOSPITALITY: Case Summary & 20 Largest Unsecured Creditors
DWS CLOTHING: Seeks to Defer Hearing to Amend Plan & Disclosures

DYNASTY ACQUISITION: Fitch Affirms B LongTerm IDR, Outlook Stable
EL CANO: Unsecureds Owed $413 to Recover 100% in 5 Years
ELEFTHERIA LLC: Trustee Hires GrandPoint Realty as Realtor
ENALASYS CORPORATION: Seeks $50K Insider Loan to Finance Litigation
EVENTIDE CREDIT: Feb. 7 Meeting Set to Form Creditors' Panel

FAIRWAY GROUP: Feb. 4 Meeting Set to Form Creditors' Panel
FAIRWAY GROUP: Seeks OK of $25M DIP Loan from Prepetition Lenders
FALLS EVENT: Seeks Gen. Liability Premium Financing for Waterpark
FFBC OPERATIONS: Celis to Fund $50,000 to the Liquidating Trust
FFBC OPERATIONS: Feb. 20 Plan Confirmation Hearing Set

FLEXENTIAL INTERMEDIATE: Moody's Rates $250MM First Lien Notes 'B2'
GAUCHO GROUP: Further Amends Stock Certificate of Designation
GENCANNA GLOBAL: Stites Represents Dean Dorton, Central Bank
GENERAL CANNABIS: Will Sell Colorado Office Building for $1.6M
GL BRANDS: Reports $14.5 Million Net Loss for First Quarter

GORDON JENSEN: Case Summary & 4 Unsecured Creditors
GREAT FOOD: Gets OK to Borrow $45,000 for Professional Hospitality
GREAT FOOD: Seeks to Obtain $45K of Unsecured Financing
GREEN PHARMACEUTICALS: Unsecureds to Recover 1.5% in Plan
GROW INC: Case Summary & 20 Largest Unsecured Creditors

HARB PROPERTIES: Citizen Bank Objects to Disclosure Statement
HARDEN FARMS: Unsecureds Owed $594K to Get $10K Over 5 Years
HARRAH WHITES: Unsec. Creditors to Get 100% Plus Interest in Plan
HENLEY PROPERTIES: Feb. 27 Hearing on Disclosure Statement Set
HERITAGE COLORADO: Case Summary & 2 Unsecured Creditors

HERMANI HOTELS: Case Summary & 20 Largest Unsecured Creditors
HUDSON TECHNOLOGIES: Calm Waters Has 7.6% Stake as of Dec. 31
HUDSON TECHNOLOGIES: Has Until July 27 to Regain Nasdaq Compliance
INMAR INC: Moody's Affirms B2 CFR & Alters Outlook to Negative
INNERSCOPE HEARING: Increases Authorized Capital Stock to 15 Bil.

JANETTE COCKRUM: Mead Buying Mountain Home Property for $100K
JDFIU HOGAN: Voluntary Chapter 11 Case Summary
JOHN S. WON: March 17, 2020 Plan Confirmation Hearing Set
KNB HOLDINGS: Moody's Lowers CFR to Caa1, Outlook Negative
L.G. STECK MEMORIAL: Hires Valid8 as Digital Financial Consultant

LEE'S FOODSERVICE: Case Summary & 20 Largest Unsecured Creditors
LINDLEY FIRE: Main Assets Sold, Proposes Liquidating Plan
LIZAMA CARRIERS: Hires FisherBroyles as Attorney
MATRA PETROLEUM: Proposes to Sell Ford Truck for $4K Each
MCDERMOTT INT'L: Paul Weiss, et. al Represent Senior Notes Group

MCDERMOTT INTERNATIONAL: Proposes Prepackaged Debt-for-Equity Plan
MELINTA THERAPEUTICS: Trustee Selling Two Vessels for $905K
MEMPHIS SPINE: Unsecured Creditors to Get 1% Dividend in Plan
MIDAS INTERMEDIATE II: Moody's Affirms B3 CFR, Outlook Negative
MILLMAC CORP: Proposes Junktiques Auction of Business Equipment

MONAKER GROUP: Extends Maturity of Notes to April 1, 2020
MOSIER MANAGEMENT: Voluntary Chapter 11 Case Summary
MWM OIL: Proposed Online Auction of Remaining Personal Property OKd
NEFFGEN FAMILY: Case Summary & 20 Largest Unsecured Creditors
NOVELION THERAPEUTICS: Deadline to File Claim Set for May 29

OFFSHORE MARINE: Seeks to Continue Line of Credit with Amex
ORIGINCLEAR INC: Holders Convert $19,490 Notes Into Equity
PADDOCK ENTERPRISES: Hires Mr. Gordon of DJG Services as CRO
PADDOCK ENTERPRISES: Hires Prime Clerk as Administrative Advisor
PADDOCK ENTERPRISES: Hires Richard Layton as Co-Counsel

PANCAKES & PIES: Court Approves Combined Disclosure & Plan
PAYLESS HOLDINGS: Reorganization Plan Declared Effective Jan. 14
PESTOVA HOLDINGS: Selling Houston Property for $600K
PHILADELPHIA ENTERTAINMENT: Claims Against Pa. Revenue Dept Tossed
PINECREST ACADEMY: S&P Affirms BB+ Rating, Alters Outlook to Neg.

PINNACLE OPERATING: S&P Lowers ICR to 'SD' on Acquisition
PLATINUM OILFIELD: Hires Malloy Law Firm as Special Counsel
PLEASANTON FITNESS: Selling Gym Equipment to Fitness 1080 for $75K
PONCE REAL ESTATE: In Talks With Triangle; Unsecureds to Get 100%
PRINCETON AVENUE: Unsecured Creditors to Get $36,000 Over 4 Years

PUGNACIOUS ENDEAVORS: S&P Cuts Sec. Credit Facility Rating to 'B'
RAM DISTRIBUTION: Seeks OK of $250K DIP Loan from Main Street
RECORDED BOOKS: Moody's Affirms B3 CFR, Outlook Stable
RECORDED BOOKS: S&P Affirms 'B-' ICR on Acquisition of Overdrive
REIHNER ENTERPRISES: U.S. Trustee Shows Deficiencies in Disclosures

REJUVI LABORATORY: Unsec. Creditors to Recover 100% in Plan
REVA MEDICAL: Feb. 18 Hearing on Prepackaged Plan & Disclosures
REVA MEDICAL: Lenders Provide Additional Funding of $4.4M
RHC LLC: April 15 Filing Deadline of Plan and Disclosures
ROBERT GROUP LLC: Seeks to Hire Petroff Amshen as Counsel

ROYCE J. HASSELL: Selling West University Property for $815K
RUBEN JASSO: Siemens Financial Objects to Fourth Amended Disclosure
SAEXPLORATION HOLDINGS: Whitebox Advisors Reports 36.1% Stake
SAI SB:Unsecureds Paid in Full within 60 Months
SALSGIVER INC: Unsecureds to Recover 60% in 2nd Amended Plan

SEASONS CORPORATE: Equipment Vendor Must Defend Against Lender Suit
SGH CHHINA LLC: Seeks to Hire Penachio Malara as Counsel
SHAPPHIRE RESOURCES: Amended Plan & Disclosures Due Feb. 12
SK GLOBAL: Unsecured Creditors to Recover 16% in 2 Years
SKEFCO PROPERTIES: Trustee Hires GrandPoint Realty as Realtor

SOUTH COAST BEHAVIORAL: PCO Files 5th & 6th Reports
SOUTHCROSS ENERGY: Files First Amended Plan
SRS DISTRIBUTION: S&P Retains 'B' ICR on Credit Facility Add-On
STORE IT REIT: 61 Shareholders File Additional Claims
STUDENT LIVING: Welch Excavation Objects to Disclosure Statement

STUDENT LIVING: Westmere Capital Objects to Disclosure Statement
SUN PACIFIC: Enters Into Second Amended Indenture with UMB Bank
SUNCREST STONE: March 2 Hearing on 2nd Amended Disc. Statement
SUNSET VIEW: Silvergate Buying Davie Property for $2.5 Million
SUZANNE FERRY: Kestenbaum Buying St. Pete Beach Property for $1.5M

TDV DEVELOPMENT: Case Summary & 5 Unsecured Creditors
THURSTON MANUFACTURING: Jensen Buying Thurston Property for $2.2K
UNITED PF HOLDINGS: S&P Affirms 'B' ICR; Outlook Stable
UPC FINANCING: Moody's Rates New Sec. Term Loan AT Due 2028 'Ba3'
VALLEY ECONOMIC: U.S. Agencies Say Plan Can't Be Confirmed

VARTEK LLC: Unsec. Creditors to Get What's Left of Sale Proceeds
VERMILLION INC: Granted Until July 27 to Regain Nasdaq Compliance
VERTIV GROUP: Moody's Assigns B1 CFR, Outlook Stable
VIDEO CORPORATION: Case Summary & 20 Largest Unsecured Creditors
VISTAGEN THERAPEUTICS: Gets FDA Clearance for AV-101 IND

VISTAGEN THERAPEUTICS: Lincoln Park, et al. Report 9.6% Stake
VIVALDI MUSIC: Feb. 25, 2020 Plan & Disclosure Hearing Set
VIVALDI MUSIC: Unsecureds Get $8,500 Per Month for 36 Months
WESTERN RESERVE: KeyBank Wants Plan Payments Clarified
WESTPORT HOLDINGS: Trustee Asks Final Approval of All Assets Sale

WOODCREST ACE HARDWARE: To Seek Approval of 100% Plan March 31
[^] Large Companies with Insolvent Balance Sheet

                            *********

4811 ASSOCIATES: Secured Creditor to Acquire Property in Plan
-------------------------------------------------------------
Secured creditor 5th Avenue Mixed Use LLC has filed its Plan of
Reorganization for debtor 4811 Associates LLC with the United
States Bankruptcy Court for the Eastern District of New York.

The Plan provides for the Secured Creditor to purchase the real
property and improvements located at 4811 5th Avenue, Brooklyn, New
York 11220 from the Debtor pursuant to a private sale, with a
closing of such Sale immediately following confirmation of the
Plan.

Proceeds generated from the Sale will be utilized by the Plan
Proponent to fund distributions under the Plan to satisfy all
allowed claims of creditors of the Debtor in full, with payments to
unsecured creditors receiving post-petition interest 4.00% per
annum from the Petition Date and Secured Creditors receiving
interest as guided by agreement or by statute. The Plan Proponent
has agreed to purchase the Property at the Sale by satisfying
and/or credit bidding the amount of its Secured Claim, and
providing an additional cash distribution in an amount of
$74,144.12 simultaneously with the closing of the Sale. The Cash
Contribution shall be utilized to pay all Allowed Claims, including
Administrative Claims and Professional Fees, in full.

In furtherance of the Plan, the Secured Creditor has agreed to
provide Cash necessary to fund distributions under the Plan as
follows (1) payment to governmental units in the full amount of
their Allowed Secured Claims for real estate taxes and water and
sewer use charges; (2) payment in full to amounts due to and claims
of (a) the Office of the United States Trustee (b) Holders of
Priority Tax Claims (c) Holders of Priority Claims (d) Allowed
Administrative Creditors; (e) Holders of Unsecured Claims.

Each holder of an Allowed Unsecured Claim shall receive a
distribution in an amount equivalent to 100% of their Allowed
Unsecured Claims from the Disbursing Agent plus post-petition
interest on account of their Allowed Claims at a rate of 4.00% per
annum. The Internal Revenue Service has filed a proof of claim, of
which the amount of $4,200.00 is a general unsecured claim, and the
Debtor has identified Consolidated Edison Company of New York Inc.
as an unsecured creditor in the amount of $100.00. Holders of Class
4 Allowed Claims are unimpaired and are not entitled to vote for or
against the Plan.

A full-text copy of the plan dated January 14, 2020, is available
at https://tinyurl.com/ujnxtpg from PacerMonitor.com at no charge.

5th Avenue is represented by:

        JASPAN SCHLESINGER LLP
        Frank C. Dell'Amore, Esq.
        Christopher D. Palmieri, Esq.
        300 Garden City Plaza
        Garden City, New York 11530
        Tel: (516) 746-8000

                     About 4811 Associates

4811 Associates LLC owns the real property and improvements located
at 4811 5th Avenue, Brooklyn, New York 11220.

4811 Associates LLC sought Chapter 11 protection (Bankr. E.D.N.Y.
Case No. 19-44263) on July 11, 2019.  The Debtor was estimated to
have assets and liabilities of $1 million to $10 million.

4811 Associates LLC's case is a member case of Lead Case, with Case
No. 19-44290 of Chu H. Kwon.

The Elizabeth S Stong is the case judge.

The Debtors' counsel:

     Charles E Simpson
     Windels Marx Lane & Mittendorf
     Tel: 212-237-1000
     E-mail: csimpson@windelsmarx.com


53 STANHOPE: Court Approves Disclosure Statement
------------------------------------------------
Judge Robert D. Drain has ordered that the Disclosure Statement in
support of the Chapter 11 Plan filed by 53 STANHOPE LLC, et al., is
approved.

Feb. 20, 2020 is fixed as the last day for filing and serving
written objections to confirmation of the Plan.

Feb. 21, 2020 at 5:00 p.m. is fixed as the last day for submitting
written acceptances or rejections to the Plan.

Feb. 26, 2020, at 10:00 a.m. (EST), or as soon thereafter as
counsel may heard, is fixed for the hearing on confirmation of the
Plan (the "Hearing"), before the Honorable Robert D. Drain, 300
Quarropas Street, White Plains, NY 10601−5008.

                     About 53 Stanhope LLC

53 Stanhope LLC and 17 affiliates are primarily engaged in renting
and leasing real estate properties.

53 Stanhope LLC and its affiliates filed voluntary petitions
seeking relief under Chapter 11 of the Bankruptcy Code (Bankr.
S.D.N.Y. Lead Case No. 19-23013) on May 20, 2019.  The petitions
were signed by David Goldwasser, authorized signatory of GC Realty
Advisors.  

Mark A. Frankel, Esq., at Backenroth Frankel & Krinsky, LLP,
represents the Debtors.

Each of the Debtors is an affiliate of 73 Empire Development LLC,
which sought bankruptcy protection (Bankr. S.D.N.Y. Case No.
19-22285) on Feb. 21, 2019.  Its case is not jointly administered
with those of the Debtors.  

Backenroth Frankel also serves as counsel to 73 Empire Development.


5505 ASSOCIATES: Secured Creditor to Acquire Property in Plan
-------------------------------------------------------------
Secured creditor 5th Avenue Mixed Use LLC has filed its Plan of
Reorganization for debtor 5505 Associates LLC with the United
States Bankruptcy Court for the Eastern District of New York.

The Plan provides for the Secured Creditor to purchase the real
property and improvements located at 5505 5th Avenue, Brooklyn, New
York 11220 from the Debtor pursuant to a private sale, with a
closing of such Sale immediately following confirmation of the
Plan.

Proceeds generated from the Sale will be utilized by the Plan
Proponent to fund distributions under the Plan to satisfy all
Allowed Claims of creditors of the Debtor in full, with payments to
unsecured creditors receiving post-petition interest 4.00% per
annum from the Petition Date and Secured Creditors receiving
interest as guided by agreement or by statute. The Plan Proponent
has agreed to purchase the Property at the Sale by satisfying
and/or credit bidding the amount of its Secured Claim, and
providing an additional cash distribution in an amount of
$74,144.12 simultaneously with the closing of the Sale. The Cash
Contribution shall be utilized to pay all Allowed Claims, including
Administrative Claims and Professional Fees, in full.

In furtherance of the Plan, the Secured Creditor has agreed to
provide Cash necessary to fund distributions under the Plan as
follows (1) payment to governmental units in the full amount of
their Allowed Secured Claims for real estate taxes and water and
sewer use charges; (2) payment in full to amounts due to and claims
of (a) the Office of the United States Trustee (b) Holders of
Priority Tax Claims (c) Holders of Priority Claims (d) Allowed
Administrative Creditors; (e) Holders of Unsecured Claims.

Each holder of an Allowed Unsecured Claim will receive a
distribution in an amount equivalent to 100% of their Allowed
Unsecured Claims from the Disbursing Agent plus post-petition
interest on account of their Allowed Claims at a rate of 4.00% per
annum.  The Internal Revenue Service has filed a proof of claim, of
which the amount of $4,200 is a general unsecured claim, and the
Debtor has identified Consolidated Edison Company of New York Inc.
as an unsecured creditor in the amount of $100.  Holders of Class 4
Allowed Claims are unimpaired and are not entitled to vote for or
against the Plan.

A full-text copy of the plan dated Jan. 14, 2020, is available at
https://tinyurl.com/yxyvley9 from PacerMonitor.com at no charge.

                     About 4811 Associates

5505 Associates LLC owns the real property and improvements located
at 4811 5th Avenue, Brooklyn, New York 11220.

5505 Associates LLC sought Chapter 11 protection (Bankr. E.D.N.Y.
Case No. 19-44264) on July 11, 2019.  The Debtor was estimated to
have assets and liabilities of $1 million to $10 million.

5505 Associates LLC's case is a member case of Lead Case, with Case
No. 19-44290 of Chu H. Kwon.

The Elizabeth S Stong is the case judge.

The Debtors' counsel:

     Charles E Simpson
     Windels Marx Lane & Mittendorf
     Tel: 212-237-1000
     E-mail: csimpson@windelsmarx.com


5507 ASSOCIATES: Secured Creditor to Acquire Property in Plan
-------------------------------------------------------------
Secured creditor 5th Avenue Mixed Use LLC has filed its Plan of
Reorganization for debtor 5507 Associates LLC with the United
States Bankruptcy Court for the Eastern District of New York.

The Plan provides for the Secured Creditor to purchase the real
property and improvements located at 5507 5th Avenue, Brooklyn, New
York 11220 from the Debtor pursuant to a private sale, with a
closing of such Sale immediately following confirmation of the
Plan.

Proceeds generated from the Sale will be utilized by the Plan
Proponent to fund distributions under the Plan to satisfy all
Allowed Claims of creditors of the Debtor in full, with payments to
unsecured creditors receiving post-petition interest 4.00% per
annum from the Petition Date and Secured Creditors receiving
interest as guided by agreement or by statute. The Plan Proponent
has agreed to purchase the Property at the Sale by satisfying
and/or credit bidding the amount of its Secured Claim, and
providing an additional cash distribution in an amount of
$74,144.12 simultaneously with the closing of the Sale. The Cash
Contribution shall be utilized to pay all Allowed Claims, including
Administrative Claims and Professional Fees, in full.

In furtherance of the Plan, the Secured Creditor has agreed to
provide Cash necessary to fund distributions under the Plan as
follows (1) payment to governmental units in the full amount of
their Allowed Secured Claims for real estate taxes and water and
sewer use charges; (2) payment in full to amounts due to and claims
of (a) the Office of the United States Trustee (b) Holders of
Priority Tax Claims (c) Holders of Priority Claims (d) Allowed
Administrative Creditors; and (e) Holders of Unsecured Claims.

Each holder of an Allowed Unsecured Claim shall receive a
distribution in an amount equivalent to 100% of their Allowed
Unsecured Claims from the Disbursing Agent plus post-petition
interest on account of their Allowed Claims at a rate of 4.00% per
annum. The Internal Revenue Service has filed a proof of claim, of
which the amount of $4,200.00 is a general unsecured claim, and the
Debtor has identified Consolidated Edison Company of New York Inc.
as an unsecured creditor in the amount of $100. Holders of Class 4
Allowed Claims are unimpaired and are not entitled to vote for or
against the Plan.

A full-text copy of the plan dated January 14, 2020, is available
at https://tinyurl.com/socwzee from PacerMonitor.com at no charge.

5th Avenue is represented by:

        JASPAN SCHLESINGER LLP
        Frank C. Dell'Amore, Esq.
        Christopher D. Palmieri, Esq.
        300 Garden City Plaza
        Garden City, New York 11530
        Tel: (516) 746-8000

5507 Associates LLC sought Chapter 11 protection (Bankr. E.D.N.Y.
Case No. 19-bk-44290) on July 11, 2019.  5507 Associates' case is a
member case of Lead Case, with Case No. 19-44290 of Chu H. Kwon.

The Elizabeth S Stong is the case judge.

The Debtors' counsel:

     Charles E Simpson
     Windels Marx Lane & Mittendorf
     Tel: 212-237-1000
     E-mail: csimpson@windelsmarx.com



A.C. FURNITURE: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: A.C. Furniture Company, Inc.
        3872 Martin Drive
        Axton, VA 24054

Business Description: A.C. Furntiture Company, Inc. --
                      https://acfurniture.com -- manufacturers
                      seating for the hospitality, healthcare, and
                      food service industry.  The Company was
                      founded in 1977.

Chapter 11 Petition Date: February 3, 2020

Court: United States Bankruptcy Court
       Western District of Virginia

Case No.: 20-60200

Judge: Hon. Paul M. Black

Debtor's Counsel: Timothy McGary, Esq.
                  TIMOTHY J. MCGARY
                  8609 Westwood Center Drive Suite 203
                  Vienna, VA 22182
                  Tel: 703-636-7107
                  Email: tjm@mcgary.com

Total Assets: $23,295,208

Total Liabilities: $9,457,063

The petition was signed by Kennon Robertson, chief executive
officer.

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

                      https://is.gd/6fL8ye

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim    Claim Amount
   ------                          ---------------    ------------
1. Xpo Logistics Freight, Inc      Utility Services       $213,012
29559 Network Place
Chicago, IL, 60673-1559
Tel: (800) 755-2728

2. Packaging Products Inc            Suppliers or         $115,003
200 Little Creek Drive                 Vendors
Bassett, VA, 24055
Tel: (5406) 293-4810

3. Suntrust Bankcard, N.A.           Monies Loaned/        $84,511
PO Box 791250                          Advanced
Baltimore, MD, 21279-1250

4. Y&Y Hardwoods LLC                  Suppliers or         $68,888
702 Carolina Ave                        Vendors
Thomasville, NC, 27360
Tel: 336-476-6104

5. American Express                 Credit Card Debt       $57,892
PO Box 1270
Newark, NJ, 07101-1270
Tel: (540) 577-8819

6. Rj Lackey, P.C.                 Debt Counseling/        $52,449
341 Main Street Suite 201             Attorneys
Danville, VA, 24541
Tel: (434) 797-8212

7. Landstar Inway, Inc.                Utility             $45,888
12793 Collections Ctr Dr              Services
Chicago, IL, 60693
Tel: (815) 972-5457

8. Nassimi LLC                         Utility             $44,056
370 Seventh Ave                       Services
Ste 1600
New York, NY, 10001-3903
Tel: (800) 521-5208

9. Xpo Logistics Canada           Utility Services         $35,360
PO Box 15600 Station A
Toronto, ON, M5W 1C1

10. Duke Power 1783160640         Utility Services         $34,115
PO Box 70516
Business Acf
Charlotte, NC, 28272

11. James Van Whitlow               Suppliers or           $27,422
145 Holbrook Avenue                   Vendors
Danville, VA, 2454

12. Gateway Logistics             Utility Services         $26,725
4250 Creek Road
Cincinnati, OH, 45241

13. L&P Financial Services Co       Suppliers or           $23,992
P.O. Box 538385                       Vendors
Atlanta, GA, 30353-8385

14. Universal Spring Company        Suppliers or           $20,014
PO Box 751954                         Vendors
Charlotte, NC, 28275-1954

15. Whiteford, Taylor & Preston LLP     Debt               $18,265
Seven St Paul St                     Counseling/
Baltimore, MD, 21202-1636            Attorneys
Tel: (410) 347-8700

16. Spradling Int'l (Fabr)          Suppliers or           $17,983
P.O. Box 1668                         Vendors
Pelham, AL, 3512
Tel: (2059) 854-2060

17. Diamond Paper Company Inc       Suppliers or           $17,209
615 Kentuck Road                      Vendors
Danville, VA, 24540
Tel: (434) 793-4421

18. ATS Logistics Services Inc    Utility Services         $16,076
PO Box 1450
Minneapoli, MN, 55485-7130
Tel: (800) 338-0497

19. Winsight LLC                  Utility Services         $15,500
PO Box 844604
Restaurant Show
Boston, MA, 02284-4604

20. Virginia Bank & Trust Co        Monies Loaned/         $15,500
PO Box 3447                            Advanced
Danville, VA, 24543-3447


A.P. BECK-ANDOVER: AHHC Buying Andover Property for $942K
---------------------------------------------------------
A.P. Beck-Andover Realty, LLC, filed with the U.S. Bankruptcy Court
for the District of Massachusetts a notice of its proposed private
sale of the real estate located at 6-8 Windsor Street, Andover,
Massachusetts as more fully described by Deed dated Sept. 29, 2009
recorded at Essex Northern District Registry of Deeds, Book 11783,
Page 65, to AHHC Realty, LLC for $941,500, pursuant to their
Purchase and Sale Agreement dated Dec. 20, 2019, subject to higher
and better offers.

The Buyer has paid a deposit of $40,000.

The Buyer's principal place of business is 160 Merrimack Street,
Suite 1, Methuen, Massachusetts 01844.  It has no relationship to
the Debtor.

The sale will take place on Feb. 12, 2020.  The proposed buyer has
paid a deposit in the sum of $40,000.  The terms of the proposed
sale are more particularly described in the Motion to Approve Sale
filed with the Court on Dec. 26, 2019.  The Motion to Approve Sale
and the purchase and sale agreement are available at no charge upon
request from the counsel for the Debtor.

The real estate will be sold free and clear of all liens, claims
and encumbrances.  Any perfected, enforceable valid liens will
attach to the proceeds of sale according to priorities established
under applicable law.

A hearing on the Motion is set for Jan. 31, 2020 at 12:00 p.m.  The
objection deadline is Jan. 29, 2020 at 4:30 p.m.

Through the Notice, higher offers for the Property are solicited.
Any higher offer must be accompanied by a cash deposit of $40,000.
Higher offers must be on the same terms and conditions provided in
the Purchase and Sale Agreement, other than the purchase price.

               About A.P. Beck-Andover Realty

A.P. Beck-Andover Realty, LLC, a single asset real estate as
defined in 11 U.S.C. Section 101(51B), filed a petition seeking
relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Mass.
Case No. 18-41696) on Sept. 11, 2018.  In the petition signed by
Adam P. Beck, manager, the Debtor was estimated to have $1 million
to $10 million in assets and liabilities.  The Ann Brennan Law
Offices represents the Debtor.


ACPRODUCTS INC: Moody's Raises CFR to B2, Outlook Stable
--------------------------------------------------------
Moody's Investors Service upgraded ACProducts, Inc.'s Corporate
Family Rating to B2 from B3 and its Probability of Default Rating
to B2-PD from B3-PD. Moody's also assigned a B2 rating to the
company's proposed $1.07 billion senior secured term loan maturing
2025. Proceeds from the proposed debt issuance, $350 million of new
equity from the sovereign wealth fund of Singapore through its
investment company and $150 million of PIK preferred stock will be
used to acquire Masco Cabinetry, LLC and to refinance both of the
company's existing term loans. The rating assigned to each of the
company's existing term loans will be withdrawn upon the close of
the transaction. The outlook is stable.

The upgrade of ACProducts' CFR to B2 reflects Moody's expectations
that the combined company will benefit from its larger scale. Masco
Cabinetry will contribute almost 55% of total pro forma sales of
$1.7 billion. Moody's believes that the larger revenue base and
expanded product offerings will give ACProducts the ability to more
effectively compete with other national cabinet manufacturers and
get better pricing from suppliers. This in turn will result in
higher operating margin. The combination of Masco Cabinetry, a
higher margin business relative to ACProducts, expected synergies,
and a meaningful amount of new equity results in improved pro forma
credit metrics and lower leverage. "Although ACProducts' rating was
upgraded, management must execute on its integration plan and
convert costs savings into cash flow" said Peter Doyle, a Moody's
VP-Senior Analyst. "There is very little cushion for unexpected
cash needs until synergies are realized."

ACProducts' new capital structure will consist of a $200 million
asset-based revolving credit facility expiring in 2025 (unrated)
and a $1.075 billion term loan maturing later in 2025. Moody's
considers the PIK preferred shares issued by ACProducts and
initially held by Masco as equity.

The following ratings/assessments are affected by the action:

Upgrades:

Issuer: ACProducts, Inc.

Probability of Default Rating, Upgraded to B2-PD from B3-PD

Corporate Family Rating, Upgraded to B2 from B3

Assignments:

Issuer: ACProducts, Inc.

Senior Secured Bank Credit Facility, Assigned B2 (LGD4)

Outlook Actions:

Issuer: ACProducts, Inc.

Outlook, Remains Stable

RATINGS RATIONALE

ACProducts' B2 Corporate Family Rating reflects Moody's
expectations that the company will continue to have high leverage,
with debt-to-LTM EBITDA trending towards 4.5x by June 30, 2021.
Large debt service requirements, which include both interest
payments and term loan amortization, aggregating to about $120
million in the first year following the transaction and increasing
towards $140 million in the following year due to a step-up in
required amortization, make it difficult to generate excess cash
flow. Integration of the two companies must proceed flawlessly,
generating cost savings and cash flow to create a buffer for
unexpected cash needs. ACProducts' business profile, characterized
by its product concentration in cabinets, albeit across all price
points and geographies, and competitive and cyclical end markets
further constrain its credit profile. These factors pose
significant risk to ACProducts.

Offsetting these weaknesses is Moody's expectation of high
profitability, with EBITA margin projected in the 10% - 12% range
by mid-2021. A good liquidity profile, characterized by free cash
flow throughout the year, further supports the company's credit
profile. Beyond term loan amortization, ACProducts has no near-term
maturities until 2025 when its revolving credit facility expires
and term loan matures. Fundamentals for the repair and remodeling
and new residential construction markets remain sound and support
future growth, further enhancing the company's credit profile.
Also, senior management of Masco Cabinetry, which had been more
profitable than ACProducts, will assume leadership roles in the
combined company as it embarks on an aggressive integration
program.

Governance characteristics Moody's considers in ACProducts' credit
profile is an aggressive financial policy evidenced by its high
leverage and potential for further debt financed acquisitions.
American Industrial Partners, through its affiliates, is the
primary sponsor of ACProducts. Singapore's sovereign wealth fund,
through its investment company (GIC), is a shareholder as well.
Moody's views GIC as a passive investor and expect that capital
deployment concerns would be deferred to American Industrial
Partners.

The stable outlook reflects Moody's expectation that ACProducts
will successfully integrate Masco Cabinetry, generate solid
operating margins and reduce leverage from pro forma levels.
Moody's also expects that industry fundamentals will support growth
over the next twelve to 18 months.

The rating could be upgraded if (all ratios include Moody's
standard adjustments):

  -- Debt-to-LTM EBITDA is sustained below 4.5x

  -- Ongoing trends in end markets support sustained organic
growth

  -- The company's good liquidity profile is maintained

The rating could be downgraded if:

  -- Debt-to-LTM EBITDA is sustained above 5.5x

  -- Considerable compression in EBITA margin

  -- The company's liquidity profile deteriorates

  -- Failure to integrate the combined companies and realize
significant synergies

The principal methodology used in these ratings was Global
Manufacturing Companies published in June 2017.

ACProducts, Inc., headquartered in The Colony, Texas, is a national
manufacturer and distributor of kitchen and bathroom cabinetry.
American Industrial Partners, through its affiliates, is the
primary sponsor of ACProducts. Pro forma revenue, including Masco
Cabinetry and previous acquisitions, is about $1.7 billion.
ACProducts is privately owned and does not disclose financial
information publicly.


ALTA MESA: Asks More Time to Identify Stalking Horse Bidder
-----------------------------------------------------------
Alta Mesa Resources, Inc., and affiliates filed with the U.S.
Bankruptcy Court for the Southern District of Texas a notice of
extension for them to identify a Stalking Horse Bidder in
connection with the auction sale of substantially all or any
portion or combination of their assets through one or more sales of
their Assets and/or a combined sale of both the Debtor Assets and
the Non-Debtor Assets.

On Sept. 16, 2019, the Debtors filed their Bidding Procedures
Motion.  On Dec. 19, 2019, the Court entered the Bidding Procedures
Order, authorizing them to extend or modify certain deadlines set
forth in the Bidding Procedures Order with the consent of the AMH
Agent and after consultation with the Consultation Parties.   

In accordance with the Bidding Procedures Order, the Debtors and
AMH Agent have agreed, following consultation by the Debtors with
the Consultation Parties, to extend the deadline for the Debtors to
identify a Stalking Horse Bidder and ask Court approval of Bid
Protections from Dec. 30, 2019 at 5:00 p.m. (CT) to Dec. 31, 2019
at 11:59 p.m. (CT).

A copy of the Bidding Procedures is available at
https://tinyurl.com/yx7x66dd from PacerMonitor.com free of charge.

                    About Alta Mesa Resources

Alta Mesa Resources, Inc., is an independent energy company focused
on the development and acquisition of unconventional oil and
natural gas reserves in the Anadarko Basin in Oklahoma, and through
Kingfisher Midstream, LLC, provides best-in-class midstream energy
services, including crude oil and gas gathering, processing and
marketing and produced water disposal to producers in the STACK
play.

Alta Mesa reported $1.4 billion in assets and $864 million in
liabilities as of Dec. 31, 2018.

Alta Mesa and six affiliates sought Chapter 11 protection (Bankr.
S.D. Tex. Case No. 19-35133) on Sept. 11, 2019.

The Hon. Marvin Isgur is the case judge.

The Debtors tapped Porter Hedges LLP and Latham & Watkins LLP as
attorneys; and Perella Weinberg Partners LP and its affiliate Tudor
Pickering Holt & Co Advisors LP as investment banker.  Prime Clerk
LLC is the claims agent.


AMERICAN WAREHOUSE: Appeals Court Keeps Portion of Fee Judgment
---------------------------------------------------------------
The Court of Appeals of Minnesota affirmed, in part, and reversed,
in part, a lower court judgment awarding attorney fees against
Toyota-Lift of Minnesota, Inc. under Minn. Stat. Sec. 181.171,
subd. 4 (2018).

TLM argues that (1) the district court erred by granting additional
fees following a decision of the appeals court in a previous
attorney-fee appeal involving the same parties that did not include
a remand; and, alternatively (2) the district court abused its
discretion in determining the amount of reasonable attorney fees.

Respondents Mark Juelich and Steven Thoemke assert in their
cross-appeal that the district court erred by denying their request
for attorney fees incurred in litigating before the appeals court
and a United States bankruptcy court.

In April 2012, TLM sued Juelich and Thoemke, its former employees,
and the company they formed to purchase the assets of TLM's
allied-products division, American Warehouse Systems, LLC (AWS) for
breach of the asset-purchase agreement and unjust enrichment.
Juelich and Thoemke counterclaimed for breach of their employment
contracts and violation of Minn. Stat. Sec. 181.14 (2018).  

The district court awarded TLM judgment against AWS for
approximately $815,000 for AWS' breach of the asset-purchase
agreement and unjust retention of customer payments owed to TLM.
Moreover, the district court found that TLM failed to pay the full
commissions that Juelich and Thoemke earned in 2009.  It awarded
Juelich and Thoemke approximately $104,000 as a result, but
determined that Juelich and Thoemke were not entitled to the
statutory penalties under Minn. Stat. Sec. 181.14, subd. 2, because
TLM's judgment against AWS more than offset the unpaid commissions
it owed to Juelich and Thoemke.

Therefore, the district court deducted from the amounts owing to
TLM the amount of the unpaid commissions owed to Juelich and
Thoemke.  After it declined to award Juelich and Thoemke penalties
under Minn. Stat. Sec. 181.14, the district court awarded TLM costs
and disbursements as the prevailing party.

Juelich and Thoemke appealed, and TLM filed a cross-appeal.

The appeals court affirmed the district court on all issues except
the district court's interpretation and application of Minn. Stat.
Sec. 181.14 concluding that Minn. Stat. Sec. 181.14 requires a
district court to determine whether an employer owes a penalty for
failure to promptly pay commissions by comparing the amount that
the employer tendered in good faith and the amount of wages and
commissions that the employee was actually owed.

TLM owed $104,000 in wages and commissions, none of which it
tendered to Juelich and Thoemke. TLM therefore owed a penalty on
the unpaid commissions.  The appeals court reversed in part and
remanded in part, requiring the district court to determine the
proper amount of penalties that TLM owes under Minn. Stat. Sec.
181.14.

The Minnesota Supreme Court granted review and affirmed.

During the pendency of the first appeal, AWS filed for Chapter 11
bankruptcy protection.  Juelich and Thoemke's counsel filed a proof
of claim in AWS's bankruptcy case for $120,002.98 in unpaid legal
fees incurred prior to the filing date of AWS's bankruptcy
petition.

After this case was remanded to the district court, Juelich and
Thoemke moved the district court to order TLM to pay them penalties
under Minn. Stat. Sec. 181.14, subd. 2; award them costs,
disbursements, witness fees, and attorney fees under Minn. Stat.
Sec.
181.171 (2018); and award them costs under Minn. Stat. Sec. 181.14,
subd. 3.  The district court granted the motions.  It awarded
Juelich $12,207.75 and Thoemke $8,930.10 in wage penalties.  It
awarded Juelich and Thoemke costs and disbursements of $20,287.12,
and attorney fees of $217,209.11.

TLM again filed an appeal arguing that the district court abused
its discretion in calculating attorney fees and that it exceeded
the scope of remand by awarding attorney fees, costs, and
disbursements. The appeals court affirmed the district court in all
respects.

After the second decision of the appeals court, Juelich and Thoemke
moved the district court for an additional $100,035.50 in attorney
fees.  Their attorney referred to a spreadsheet that reflected that
$38,746.50 of their request was for attorney fees incurred on
appeal, that $6,824.75 of the request was for attorney fees
incurred in the bankruptcy proceeding, and that the remaining
request for $54,464.25 was for attorney fees incurred in the
district court.

The district court determined that it could not grant any attorney
fees incurred on appeal, reasoning that Juelich and Thoemke "should
have moved for attorneys' fees in the Minnesota Court of Appeals."
The district court also determined that it could not grant fees
incurred in the bankruptcy proceeding because those fees were
incurred in a separate case and that "only those attorneys' fees
expended on the litigation involving Defendants' wage claims are
recoverable."  It jointly awarded Juelich and Thoemke the remaining
$54,464.25 for attorney fees incurred in district court.  TLM
appeals the award of attorney fees.  Juelich and Thoemke, by notice
of related appeal, challenge the district court's denial of
attorney fees incurred on appeal and in the bankruptcy court.

The appeals court, this time, finds that:

     -- The district court had the authority to award additional
attorney fees after the court of appeals affirmed without remand in
the previous appeal.

In Kellar v. Von Holtum, Kellar argued that a district court's
jurisdiction to hear motions regarding attorney fees did not extend
past the conclusion of an appeal. The Minnesota Supreme Court
rejected Kellar's argument and held that district courts do retain
jurisdiction to hear motions for attorney fees after an appeal has
been completed, reasoning that "[c]ollateral matters, such as
motions for attorney fee sanctions . . . are independent of the
underlying decision and do not seek to modify the underlying
decision in any way." Under Kellar, the district court retained
jurisdiction to award attorney fees in the absence of a remand.
Because it retained jurisdiction over the matter, the district
court did not err in hearing Juelich and Thoemke's motion for
additional attorney fees.

     -- The district court abused its discretion by awarding
Juelich and Thoemke an additional $54,464.25 in attorney fees.

TLM argued that the district court misapplied the lodestar method
because it failed to make an independent determination in computing
the fee award and in awarding attorney fees of $54,464.25.  On this
record, it is difficult to discern how the district court could
have done a proper lodestar analysis because the record does not
show that the district court independently determined the
attorney-fee award. It seems to have accepted counsel's unsworn and
otherwise undocumented assertion that $54,464.25 of the total
claimed fees were for legal services before the district court.
Because it did not conduct and could not have conducted a proper
lodestar analysis on this record, the district court exceeded its
discretion when it awarded Juelich and Thoemke $54,464.25 in
additional attorney fees. The record provided to the district court
is insufficient to support any award of fees, and the appeals court
therefore reverse the award without remand.

     -- The district court did not err by declining to award
Juelich and Thoemke attorney fees incurred before the court of
appeals and the U.S. Bankruptcy Court.

By notice of related appeal, Juelich and Thoemke challenge the
district court's determination that Juelich and Thoemke may not
recover attorney fees incurred in the earlier appeal because they
did not move the court of appeals for attorney fees under rule
139.06.  Rule 139.06 provided that, when a party seeks attorney
fees on appeal, that party "shall submit such a request by motion
under Rule 127.  The rule stated that motions for such fees "must
include sufficient documentation to enable the appellate court to
determine the appropriate amount of fees."  Juelich and Thoemke
argue that the district court erred in its determination because
their "right to attorney fees comes from Minn. Stat. Sec.
181.171."

However, as the district court determined, the language of the
former Minn. R. Civ. App. P. 139.06 is clear: "shall" is not
discretionary. The appeals court therefore agree with the district
court that Juelich and Thoemke should have moved for attorney fees
in the court of appeals.  Because they failed to do so, the
district court did not err in denying Juelich and Thoemke's motion
for attorney fees incurred on appeal.

A copy of the appellate court's opinion filed December 23, 2019 is
available at https://www.leagle.com/decision/inmnco20191223292 from
Leagle.com free of charge.

Paul W. Chamberlain, Chamberlain Law Firm, 1907 Wayzata Blvd E #
130, Wayzata, MN 55391, Ryan R. Kuhlmann, Chamberlain Law Firm,
1907 Wayzata Blvd E # 130, Wayzata, MN 55391, counsel for
appellant.

Ryan R. Dreyer, Morrison Sund PLLC, 5125 County Rd 101 #200,
Minnetonka, MN 55345, counsel for respondents.

            About American Warehouse Systems, LLC

American Warehouse Systems, LLC was founded in 2011. The company,
whose line of business includes providing special warehousing and
storage services, filed a Chapter 11 petition (Bankr. D. Minn. Case
No. 14-43673) on September 8, 2014.  Steven B. Nosek, P.A., served
as the Debtor's bankruptcy counsel.



APG SUBS: Unsecureds Owed $1.59M to Get Up to 3% in Amended Plan
----------------------------------------------------------------
APG Subs, Inc., CRW Foods, Inc., HRK Group, Inc., Ray's Subway,
Inc., and Shore Foods, Inc., filed an Amended Plan of
Reorganization and an Amended Disclosure Statement.

In summary, the debtor corporations will pay in full their approved
administrative expenses in the amounts allowed by the Bankruptcy
Court.  

The Debtors will pay the agreed secured claim of Atlantic Union
Bank in the negotiated initial principal amount of $205,000 with
interest at 6.5% over 60 months as set forth in the Consent Third
Cash Collateral Order dated Oct. 4, 2019, entered October 7, 2019,
which principal secured claim has been, and will be, reduced by
sales of equipment collateral.  The Debtors will pay ease
obligations without modification in the ordinary course of their
business operations.

The Debtors will pay in full with interest all priority tax claims
within five years from the date of the filing of the Chapter 11
petitions.

Administrative claims for goods delivered within 20 days
prepetition are disputed and are proposed to be treated as general
unsecured claims in Class 9.  

Upon confirmation as permitted by the Bankruptcy Code as provided
for in the Plan, the debtor corporations will also make a
distribution to their general unsecured creditors on general
unsecured claims as filed and as scheduled calculated to be
$1,586,372.58, in six semi-annual installments each May 1st and
November 1st commencing two years following the Effective Date of
the Plan each in the amount of 0.5 percent of the Allowed Unsecured
Claim projected to total 3.00% of general unsecured debts which
distributions shall be in full and final satisfaction of these
obligations.

The prior iteration of the Disclosure Statement estimated general
unsecured claims to total $1,628,899 while the present iteration
estimated such claims to total $1,586,373.

Funds required for the implementation of the Plan will come from
(a) Net Operating Revenue consisting of those funds remaining in
debtors' general accounts from their operation less those expenses
necessary and required by debtors for their operation which have
been generally reflected in debtors' monthly reports and (b) the
investment by the holder of Interests in the debtors of the total
principal sum of $4,000.00 as new value for and in consideration of
his receipt and retention of Interests in the Reorganized Debtors.

A full-text copy of the Amended Disclosure Statement dated January
20, 2020, is available at https://tinyurl.com/wzb5k6z from
PacerMonitor.com at no charge.

Attorneys for the Debtors:

     Marc R. Kivitz, Esquire
     201 North Charles Street, Suite 1330
     Baltimore, MD 21201
     Tel: (410) 625-2300
     Fax: (410) 576-0140
     E-mail: mkivitz@aol.com

                      About APG Subs Inc.

APG Subs, Inc., et al., operate Subway franchises in Maryland.

Based in Edgewood, Md., APG Subs, Inc. and its affiliates sought
Chapter 11 protection (Bankr. M.D. Lead Case No. 19-18315) on June
19, 2019.  In the petition signed by Raymond Burrows, III,
president, APG Subs disclosed total assets of $28,177 and total
liabilities of $1,268,112.  Judge David E. Rice oversees the case.
Marc R. Kivitz, Esq., at the Law Office of Marc R. Kivitz, is the
Debtor's bankruptcy counsel.


API AMERICAS: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Two affiliates that concurrently filed voluntary petitions seeking
relief under Chapter 11 of the Bankruptcy Code:

     Debtor                                        Case No.
     ------                                        --------
     API Americas Inc. (Lead Case)                 20-10239
        fka API Foils, Inc.
     3841 Greenway Circle
     Lawrence, KS 66046
  
     API (USA) Holdings Limited                    20-10240
     3841 Greenway Circle
     Lawrence, KS 66046

Business Description: API Americas is a manufacturer of foils,
                      laminates, and holographic materials.
                      Among other customers, API Americas provides
                      packaging to companies in the premium
                      drinks, confectionery, tobacco, perfume,
                      personal care, cosmetics, and healthcare
                      sectors.  API Americas was originally
                      founded as Dry Print in New Jersey.  Re-
                      branded in 1998, API Americas is currently
                      headquartered in Lawrence, Kansas inside a
                      56,000 square foot facility with
                      manufacturing capabilities.  API Americas is
                      a wholly-owned, direct subsidiary of API
                      Holdings.  Visit www.apigroup.com for more
                      information.

Chapter 11 Petition Date: February 2, 2020

Court: United States Bankruptcy Court
       District of Delaware

Debtors'
General
Bankruptcy
Counsel:              Monique Bair DiSabatino, Esq.
                      Mark Minuti, Esq.
                      SAUL EWING ARNSTEIN & LEHR LLP
                      1201 North Market Street, Suite 2300
                      P.O. Box 1266
                      Wilmington, DE 19899
                      Tel: (302) 421-6800
                      E-mail: mark.minuti@saul.com
                      E-mail: monique.disabatino@saul.com

                        - and -

                      Mark D. Sherrill, Esq.
                      EVERSHEDS SUTHERLAND (US) LLP
                      1001 Fannin, Suite 3700
                      Houston, TX 77002
                      Tel: (713) 470-6100
                      E-mail:
marksherrill@eversheds-sutherland.com

                        - and -

                      Edward P. Christian, Esq.
                      EVERSHEDS SUTHERLAND (US) LLP
                      Grace Building
                      1114 6th Avenue, 40th Floor
                      New York, NY 10036
                      Tel: (212) 389-5000
                      E-mail: edwardchristian@eversheds-
                              sutherland.com

Debtors'
Financial
Advisor:              ERNST & YOUNG LLP

Debtors'
Claims &
Noticing
Agent:                BANKRUPTCY MANAGEMENT SOLUTIONS, INC.
                      D/B/A STRETTO
                      https://cases.stretto.com/

API Americas'
Total Assets
as of Dec. 31, 2019:  $37.3 million

API Americas'
Total Liabilities
as of Dec. 31, 2019:  $5.8 million current liabilities and $47.3
                      million long-term liabilities

API (USA) Holdings's
Total Assets
as of Dec. 31, 2019:  $51.6 million

API (USA) Holdings'  
Total Liabilities
as of Dec. 31, 2019:  $2.9 million

The petitions were signed by Douglas Woodworth, director.

Full-text copies of the petitions are available for free at
PacerMonitor.com at:

                    https://is.gd/o2rEmm
                    https://is.gd/UlWVVw

List of Debtors' 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim    Claim Amount
   ------                          ---------------    ------------
1. Toray Plastics America Inc.        Trade Debt          $532,379
50 Belver Avenue
North Kingston, RI 2852
Attn: Alexander Chang
Tel: 401-316-4525
Email: Alexander.Chang@TorayTAP.com

2. WestRock Company                   Trade Debt          $447,250
2577 Research Dr
Corona, CA 92882
Attn: Tara Greenhaw
Tel: 203-249-1409
Email: tara.greenhaw@westrock.com

3. Barton Solvents Inc.               Trade Debt          $258,691
PO Box 11207
Kansas City, KS 66111-0207
Attn: Andy Betts
Tel: 913-287-5500
Email: Andyb@barsol.com

4. Chempoint                          Trade Debt          $181,298
13727 Collections Center Dr
Chicago, IL 60693-0000
Attn: Claire Stenerson
Tel: 425-372-9205
Email: claire.stenersen@chempoint.com

5. Royal Adhesives and Sealants LLC   Trade Debt          $140,255
C/O Key Bank
PO Box 711886
Cincinnati, OH 45271-1886

6. ITW Foilmark                       Trade Debt          $107,140
PO Box 2853
Carol Stream, IL 60132
Attn: Barrett King
Email: barrett.king@itwsf.com

7. K Laser Technology Co Ltd          Trade Debt           $86,606
3123 W. Macarthur Blvd.
Santa Ana, CA 92704-6907
Attn: Kevin Michaels
Tel: 949-422-4890
Email: kevinmichaels@klaser-use.com

8. Capital Adhesives & Packing Corp   Trade Debt           $86,597
1260 South Old State Rd. 67
Mooresville, IN 46158
Attn: Tom Jarvis
Tel: 317-834-5415
Email: tjarvis@capitaladhesives.com

9. Web Plastics Company LLC           Trade Debt           $83,285
Sterling National Bank
500 7th Ave 10018
Manhattan, NY 10018
Attn: Thom Cartledge
Tel: 203-988-0600
Email: thom.cartledge@comcast.net

10. Palmer Holland Inc.               Trade Debt           $75,412
PO Box 71-5158
Columbus, OH 43271-5158
Attn: Amanda Catri
Tel: 440-385-6994
Email: acatri@palmerholland.com

11. Dunmore Corporation              Related Party-        $66,235
145 Wharton Road                      Trade Debt
Bristol, PA 19007
Attn: Roger Drain
Tel: 845-230-7244
Email: acatri@palmerholland.com

12. Geochem Solutions, Inc.           Trade Debt           $65,699
60 Fourth Street
Somerville, NJ 8876
Attn: George Schmitz
Tel: 908-252-1290
Email: acatri@palmerholland.com

13. Akzonobel Coatings Inc.           Trade Debt           $65,575
PO Box 847206
Dallas, TX 75284-7206
Attn: Forest Fleming
Tel: 336-689-6572
Email: acatri@palmerholland.com

14. DSV Air & Sea, Inc.               Trade Debt           $63,607
7501 NW Tiffany Springs Pkwy,
Ste 201
Kansas City, MO 64153
Attn: Saulius Tunkunas
Tel: 816-891-0077 ext. 6010
Email: acatri@palmerholland.com

15. Trinity Logistics Inc.            Trade Debt           $61,909
PO BOX 536203
Pittsburgh, PA 15253-5904
Attn: Christine Nolte
Tel: 816-456-2344
Email: acatri@palmerholland.com

16. Custom Foils Co.                  Trade Debt           $61,669
Building 36
185 Foundry St
Newark, NJ 07105-0000
Attn: Steve
Tel: 973-344-1434
Email: acatri@palmerholland.com

17. API Laminates Limited           Related Party-         $61,601
Second Avenue Poynton                Intercompany
Industrial Est Poynton
Stockport, Cheshire SK12 1ND
Attn: Alex Pontecaille
Tel: +44(0) 1506-497-642
Email: alex.pontecaille@apigroup.com

18. Vast Films Ltd.                   Trade Debt           $55,363
5117 Erie Street
New Castle, PA 16102
Attn: Laurence Holden
Tel: 609-433-0372
Email: l.holden@vastfilm.com

19. Pan Chemical                      Trade Debt           $49,622
115-117 Moonachie Ave
Carlstadt, NJ 07072-0000
Attn: Patty Protze
Tel: 201-438-7878 ext. 7111
Email: pprotze@pantechnology.com

20. Advanced Coated Products          Trade Debt           $42,236
Gloucester Road
Cheltenham, United Kingdom GL51 8NH
Attn: Anna Polak
Tel: +44(0) 1242-512-345
Email: anna.polak@adcoat.co.uk


APOLLO INVESTMENT: Fitch Cuts LT IDR to BB+, Outlook to Stable
--------------------------------------------------------------
Fitch Ratings has downgraded the Long-Term Issuer Default Rating
(IDR), senior secured debt rating and senior unsecured debt rating
of Apollo Investment Corporation (Apollo) to 'BB+' from 'BBB-'. The
Rating Outlook has been revised to Stable from Negative. The 'A'
rating and Stable Rating Outlook assigned to Apollo Global
Management, LLC (AGM), the parent company of Apollo's external
manager, Apollo Investment Management, L.P., are unaffected by
these actions.

The rating actions have been taken as part of Fitch's periodic peer
review of Business Development Companies (BDCs), which comprises 10
publicly rated firms. .

KEY RATING DRIVERS

IDR AND SENIOR DEBT

The ratings downgrade reflects the increase in balance sheet
leverage, which has not been sufficiently offset by a reduction in
portfolio risk, and Fitch's expectation that Apollo's leverage
(debt/equity) could increase above the previously articulated
maximum target of 1.40x; as well as an increased reliance on
secured debt funding, which reduces the firm's funding
flexibility.

Apollo's ratings remain supported by its affiliation with the AGM
platform; which provides access to investment resources and deal
flow; the firm's experienced management team; and improving
portfolio risk profile, including above-average portfolio exposure
to first lien investments compared to rated BDC peers.

Rating constraints include Apollo's weaker-than-peer track record
in credit; the continuation of execution risk associated with the
portfolio mix shift given the firm's mixed track record and the
highly competitive environment; and continued exposure, albeit
declining, to certain non-core and legacy investments, which
include energy, shipping, renewables and other legacy investments.

Rating constraints for the BDC sector more broadly include the
market impact on leverage, given the need to fair-value the
portfolio each quarter, dependence on access to the capital markets
to fund portfolio growth and a limited ability to retain capital
due to dividend distribution requirements. Additionally, the
competitive underwriting environment has yielded deterioration in
terms in the middle market, including fewer/looser covenants,
higher underlying leverage, lower underlying interest coverage and
tighter spreads. Fitch believes this backdrop could contribute to
asset quality deterioration in the sector when the cycle turns, and
BDCs with more limited access to deal flow and looser underwriting
standards are likely to experience weaker performance. Recently
relaxed regulatory limits on leverage are an evolving sector
headwind, which could contribute to increased risk profiles for
individual BDCs and elevated competition amongst BDCs.

Leverage, as measured by par debt-to-equity, amounted to 1.27x at
Sept. 30, 2019 (fiscal 2Q20), up from 0.70x a year ago and well
above the average for rated BDCs. The leverage ratio implied an
asset coverage cushion of 17.6% at Sept. 30, 2019, which was down
modestly from 19.8% a year ago but within Fitch's 'bbb' category
leverage benchmark range of 11%-33%. However, Fitch believes the
firm's asset coverage cushion should be above-average, to account
for potential valuation volatility and credit underperformance in
the portfolio, which could be outsized given Apollo's exposure to
legacy energy and shipping investments. Following passage of the
Small Business Credit Availability Act (SBCAA) and the receipt of
board approval to reduce its asset coverage requirement to 150%,
which became effective on April 4, 2019, Apollo articulated a new
target leverage range of 1.25x-1.40x. Fitch now believes that
leverage could rise above 1.40x over time given comments made by
Apollo's management team on its fiscal 2Q20 earnings call. Fitch
views the potential for higher leverage negatively, particularly
given legacy investments in the portfolio, as it would materially
reduce Apollo's asset coverage cushion, leaving the firm more
exposed to covenant pressure should asset values decline.

Apollo's previously articulated maximum leverage target of 1.40x
was already above the maximum targeted leverage levels for most
rated BDC peers. Fitch expected that the increase in leverage to
the targeted range would be sufficiently mitigated by a reduction
in portfolio risk given the planned rotation into more first lien
securities with lower underlying portfolio leverage and yields.
While Apollo has made progress on its portfolio rotation since
passage of the SBCAA, the firm has not yet reached its target
portfolio construct, but leverage has already risen to the lower
end of the previously articulated targeted range. Total first lien
investments amounted to 73.9% of the portfolio at fair value at
fiscal 2Q20, up from 56.5% a year ago and above the rated peer
average at Sept. 30, 2019. However, first lien corporate loans,
which exclude Apollo's investment in Merx Aviation Financing, LLC
(Merx) and non-core and legacy assets, amounted to approximately
56% of the portfolio, well below the target of approximately
80%-85%. Non-core and legacy investments represented approximately
15% of the portfolio at Sept. 30, 2019 down from 22% at Sept. 30,
2018, but above the target of less than 5%. Additionally, Apollo's
weighted average underlying net leverage of the corporate lending
portfolio was 5.5x at fiscal 2Q20, which is relatively unchanged
from a year ago despite the increase in first lien investments and
above the target level of 4.2x. The rating downgrade reflects
Fitch's belief that the increase in leverage has not yet been
sufficiently offset by a reduction in portfolio risk. Furthermore,
Fitch believes that Apollo's leverage could continue to rise
towards, and potentially exceed, 1.40x prior to the successful
completion of the portfolio rotation, which is viewed negatively.
Net realized losses averaged approximately 5.3% of the average
portfolio at fair value, annually, from fiscal 2016 through fiscal
2019, partially driven by losses from energy investments.
Performance has improved more recently as Apollo has exited certain
underperforming investments. Net realized losses amounted to $5.8
million in fiscal 1H20 (excluding a realized loss on the
extinguishment of debt), representing 0.2% of the average portfolio
at fair value. Still, continued exposure to certain non-core and
legacy assets, including oil and gas investments, drove unrealized
portfolio depreciation of $29.2 million during fiscal 1H20.
Investments on non-accrual status accounted for 2.3% of the debt
portfolio at cost and 1.0% of the debt portfolio at fair value, at
Sept. 30, 2019, which were relatively in-line with the rated peer
averages and down from 3.7% at cost and 3.0%, at fair value a year
ago. Fitch believes Apollo's new strategy has reduced portfolio
risk, and should result in improved credit performance over time.
Still, Apollo has shifted its portfolio strategy multiple times
since inception, and the firm's long-term track record in credit is
weaker than that of its BDC peers, having generated cumulative net
realized losses of $1.6 billion from inception through Sept. 30,
2019. Additionally, Fitch believes sector credit performance is
unsustainably good, which could result in additional portfolio
losses in the future. Apollo's recent originations consist largely
of co-investments with MidCap Financial, which was co-founded by
Howard Widra (CEO of Apollo) in 2008 and has a solid track record
in credit. Fitch will assess the investment acumen of the current
management team over time based on the performance of new-vintage
originations.

Apollo's core operating performance has been relatively stable over
the past four years. Annualized net investment income (NII)
amounted to 5.3% of the average portfolio at cost for the six
months ended Sept. 30, 2019, compared to 5.5% for same period of
the prior year and a 5.5% average for fiscal 2016 through 2019. The
decline in NII yield, yoy, was driven by lower spreads on new first
lien debt investments and higher expenses, specifically an increase
in interest expense due to higher leverage, which was partially
offset by a decline in incentive fees from a total return based fee
that became effective on Jan. 1, 2019. NII yields have been below
the peer average in recent years given above average levels of
non-accrual and non-income producing investments. While non-accrual
levels have declined and exposure to yielding debt investments has
increased, NII yields could continue to be lower than peers' given
the above-average exposure to first lien investments. Fitch expects
relative earnings consistency to continue in 2020. While earnings
may be pressured by lower rates, the impact could potentially be
offset by spread widening. Additionally, relative to peers, Apollo
has a higher floating-rate funding component so funding costs could
benefit from lower rates, absent an increase in leverage.

At Sept. 30, 2019, 22% of Apollo's total outstanding debt (at par)
was unsecured, which is below the peer group average and within
Fitch's 'bb' category quantitative benchmark range of less than 35%
for BDCs. Unsecured debt, as a proportion of total debt
outstanding, declined significantly over the past year, from 52.2%
at Sept. 30, 2018, as a result of the firm redeeming $150 million
of unsecured notes in August 2019 as well increasing leverage
through additional secured borrowings. While Fitch understands the
firm's motivation to reduce its cost of funds given the lower
yields on new originations, Fitch views the reduction in unsecured
debt negatively as it reduces the firm's funding flexibility.
Apollo has not demonstrated access to the unsecured debt markets
since March 2015, while many rated BDC peers tapped the markets
over the past year to diversify funding sources while locking in
relatively attractive financing costs given low interest rates.
Apollo's credit facility contains a covenant requiring a 200%
borrower asset coverage ratio, defined as assets divided by secured
debt, which should ensure unsecured debt remains part of Apollo's
funding stack. Still, Fitch believes that Apollo's unsecured debt
to-total debt ratio could remain below 35% as leverage will likely
continue to rise.

Fitch views Apollo's liquidity as adequate. Balance sheet cash and
equivalents amounted to $36.4 million (including foreign
currencies) at Sept. 30, 2019, and availability on the revolving
credit facility amounted to $464.4 million. The firm does not have
any term debt maturities until March 2025. NII coverage of the
dividend amounted to approximately 115.6% in the first half of
fiscal 2020, which is up from 99.2% in the first half of fiscal
2019, and compares favorably to an average of 102.7% for fiscal
2016 through 2019. Adjusting for non-cash income and expenses,
cash-based earnings coverage of the dividend is modestly lower, at
111.7% for the six months ended Sept. 30, 2019, which is still
solid. Fitch believes that NII will remain sufficient to cover the
firm's dividends in 2020.

The Stable Outlook reflects the expectation that Apollo will
further increase exposure to first lien investments while reducing
exposure to non-core and legacy investments over the outlook
horizon, which will continue to improve its portfolio risk profile.
The Rating Outlook also reflects Fitch's expectation for relatively
stable operating performance, solid dividend coverage, and the
maintenance of sufficient liquidity.

The equalization of the secured and unsecured debt ratings with the
Long-Term IDR reflects solid collateral coverage for all classes of
debt given that Apollo is subject to a 150% asset coverage
limitation.

RATING SENSITIVITIES

IDR AND SENIOR DEBT

Additional negative rating actions could result from a continued
reduction in the firm's asset coverage cushion without a notable
improvement in the risk profile of the portfolio, as evidenced by
an increase in first lien investments, decline in legacy and
non-core investments, and a reduction in underlying portfolio
company leverage. A spike in non-accrual levels, meaningful
realized or unrealized losses, a continued decline in the unsecured
funding percentage, significant reduction in liquidity or material
deterioration in dividend coverage could also result in negative
rating actions.

Positive rating momentum could result from Apollo maintaining
leverage at or below 1.40x, following the execution of its
portfolio shift into more first lien positions with lower
underlying leverage, and demonstrating additional access to the
unsecured debt markets resulting in unsecured debt being sustained
at-or-above 35% of total debt outstanding. Positive rating momentum
would also be contingent upon strong asset quality performance,
appropriate asset coverage cushion, strategic and operating
consistency and the maintenance of solid dividend coverage.

The secured and unsecured debt ratings are linked to that of the
IDR and would be expected to move in tandem, although a meaningful
increase in the proportion of secured debt financing could result
in the unsecured debt rating being notched down from the IDR.

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.

Apollo Investment Corporation has an ESG Relevance Score of 4 for
Management Strategy due to the execution risk associated with the
portfolio rotation out of non-core and legacy investments and the
redeployment of proceeds into first lien investments with lower
underlying portfolio leverage, which is relevant to the rating in
conjunction with other factors.

Headquartered in New York, NY, Apollo is an externally-managed BDC,
organized on Feb. 2, 2004. At Sept. 30, 2019, the company had
investments in 139 portfolio companies amounting to approximately
$2.8 billion.


ASTRIA HEALTH: Replacement Financing, Cash Collateral Use Okayed
----------------------------------------------------------------
Judge Whitman L. Holt of the U.S. Bankruptcy Court for the Eastern
District of Washington authorized Astria Health and its affiliates
(a) to borrow from Lapis Advisers, L.P., as agent for the lenders
party under the DIP Facility, an amount sufficient to pay off and
replace the existing JMB DIP Facility plus $700,000 of Committed
Advances and (b) to use cash collateral until the earlier of (a)
the Maturity Date, and (b) the date upon which the Debtors' right
to use cash collateral is terminated as a result of an Event of
Default.

The Maturity Date of the DIP Facility is the earliest of (i) June
30, 2020; (ii) the effective date of a plan of reorganization;
(iii) entry of an order converting the Chapter 11 Cases to cases
under chapter 7 of the Bankruptcy Code or dismissing the Chapter 11
Cases; (iv) the closing of a Sale of all, or substantially all, the
assets of all Borrowers; and (v) the acceleration of the
outstanding Obligations or termination of the Commitment as a
result of the occurrence and continuation of an Event of Default.

The Debtors may use the proceeds of the DIP Facility Loans to (a)
replace the existing JMB DIP Facility, (b) fund the post-petition
working capital needs of the Debtors during the pendency of these
Chapter 11 Cases, (c) pay fees, costs and expenses of the DIP
Facility on the terms and conditions described in the DIP Loan
Documents, and (d) pay the allowed administrative costs and
expenses of the Chapter 11 Cases, in each case, solely in
accordance with the DIP Loan Documents (including, but not limited
to, the Budget) and the Interim Order. The DIP Lenders will pay the
Initial Funding amount directly to JMB to pay all amounts owing
under the JMB DIP Facility.

The DIP Obligations will constitute allowed senior administrative
expense claims against each Debtor and their estates with priority
in payment over any and all administrative expenses at any time
existing or arising, of any kind or nature whatsoever. The DIP
Superpriority Claims will be subject and subordinate to only the
Carve-Out.

The DIP Lenders are 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 (whether at the Stated Maturity Date, by
acceleration, or otherwise) of the DIP Obligations, subject and
subordinate to the Carve-Out.

To secure the DIP Obligations, the DIP Lenders are granted on a
final basis, continuing, valid, binding, enforceable,
non-avoidable, and automatically and properly perfected DIP Liens
in and on the DIP Collateral as follows, in each case subject and
subordinate to the Carve-Out:

     (i) a valid, binding, continuing, enforceable, non-avoidable
automatically and fully perfected first priority senior priming
liens and security interests in all DIP Collateral, regardless of
where located, which senior priming liens and security interests in
favor of the DIP Lenders will be senior to all Prepetition Credit
Liens other than the Lapis Senior Holdco Liens.

     (ii) a valid, binding, continuing, enforceable, non-avoidable
automatically and fully perfected first priority liens on and
security interests in all DIP Collateral that is not otherwise
subject to any Permitted Prior Lien. The DIP Liens will have
priority over all Prepetition Credit Liens other than the Lapis
Senior Holdco Liens.

     (iii) a valid, enforceable, non-avoidable automatically and
fully perfected junior liens on and security interests in all DIP
Collateral (subordinate only to the Lapis Senior Holdco Liens, the
Permitted Prior Liens and the Carve-Out.

In addition, to adequately protect their interests in the
prepetition collateral, the Lapis Secured Parties are granted the
following in the amount of such diminution in value of their
interests in the prepetition collateral:

     (a) The Bond Trustee, on behalf of itself and the Bondholders,
is granted a valid, perfected replacement security interest in and
lien upon any and all assets subject (i) to the Lapis 2017 SHC
Holdco Liens, subordinate to the Carve-Out, and (ii) to the Lapis
2017 Sunnyside Liens and Lapis 2017 A/R Liens, subordinate to the
DIP Liens and the Carve-Out. The 2017 Lapis Loan Replacement Liens
will be senior to the 2019 Lapis Loan Replacement Liens,

     (b) The Bond Trustee is also  granted an allowed superpriority
administrative expense claim as provided in section 507(b) of the
Bankruptcy Code in the amount of Lapis 2017 Loan Adequate
Protection Claim with priority in payment over any and all
administrative expenses of the kind specified or ordered pursuant
to any provision of the Bankruptcy Code. The Lapis 2017 Loan 507(b)
Claims will be subject and subordinate only to the Carve-Out and
the DIP Superpriority Claims.

     (c) The Lapis Prepetition Agent, on behalf of itself and the
Lapis 2019 Loan Lenders, is granted a valid, perfected replacement
security interest in and lien upon any and all assets subject (i)
to the Lapis 2019 SHC Holdco Liens, subordinate to the Carve-Out,
and (ii) to the Lapis 2019 Sunnyside Liens and Lapis 2019 A/R
Liens, subordinate to the DIP Liens and the Carve-Out.

     (d) The Lapis Agent is also granted an allowed superpriority
administrative expense claim as provided in section 507(b) of the
Bankruptcy Code in the amount of Lapis 2019 Loan Adequate
Protection Claim with priority in payment over any and all
administrative expenses of the kind specified or ordered pursuant
to any provision of the Bankruptcy Code. The Lapis 2019 Loan 507(b)
Claims will be subject and subordinate only to the Carve-Out, the
DIP Superpriority Claims and the Lapis 2017 Loan 507(b) Claims.

     (e) As additional adequate protection, the Debtors will
contemporaneously provide the Lapis Secured Parties with any
reporting provided to the DIP Lenders under the DIP Loan Agreement.
The Lapis Secured Parties and the Committee will each be deemed to
be an additional notice party for purposes of the DIP Facility and
all parties thereto will provide the Lapis Secured Parties and the
Committee contemporaneous copies of all notices pursuant thereto.
The Debtors will additionally provide the Lapis Secured Parties and
the Committee any reports and information as the Lapis Secured
Parties and the Committee may reasonably request from time to time.


A copy of the Interim Order is available at
http://bankrupt.com/misc/waeb19-01189-841.pdf

                     About Astria Health

Astria Health and its subsidiaries -- https://www.astria.health/ --
are a nonprofit health care system providing medical services to
patients who generally reside in Yakima County and Benton County,
Wash., through the operation of Sunnyside, Yakima, and Toppenish
hospitals, as well as several health clinics, home health services,
and other healthcare services. Collectively, they have 315 licensed
beds, three active emergency rooms, and a host of medical
specialties. The Debtors have 1,547 regular employees.

Astria Health and 12 of its subsidiaries filed for bankruptcy
protection (Bankr. E.D.Wash, Lead Case No. 19-01189) on May 6,
2019.  In the petitions signed by John Gallagher, president and
CEO, the Debtors were each estimated to have assets and liabilities
of $100 million to $500 million.

The Hon. Frank L. Kurtz oversees the cases.

Bush Kornfeld LLP and Dentons US LLP serve as the Debtors' counsel.
Kurtzman Carson Consultants, LLC is the claims and noticing agent.

Gregory Garvin, acting U.S. trustee for Region 18, on May 24, 2019,
appointed seven creditors to serve on an official committee of
unsecured creditors.  The Committee retained Sills Cummis & Gross
P.C. as its legal counsel; Polsinelli PC, as co-counsel; and
Berkeley Research Group, LLC as financial advisor.


AYTU BIOSCIENCE: Hudson Bay Capital Reports 3.67% Stake
-------------------------------------------------------
Hudson Bay Capital Management LP and Sander Gerber disclosed in an
amended Schedule 13G filed with the Securities and Exchange
Commission on Jan. 31, 2020, that they beneficially own 788,888
shares of common stock issuable upon exercise of warrants of Aytu
Bioscience, Inc., which represents 3.67 percent of the shares
outstanding.  The Company's prospectus filed with the SEC pursuant
to Rule 424(b)(3) on Jan. 10, 2020, reports that the total number
of outstanding shares of Common Stock as of Dec. 1, 2019 was
20,733,052.  A full-text copy of the regulatory filing is available
for free at the SEC's website at:

                        https://is.gd/J1GoKH

                     About Aytu BioScience

Englewood, Colorado-based Aytu BioScience, Inc. (OTCMKTS:AYTU) --
http://www.aytubio.com-- is a commercial-stage specialty
pharmaceutical company focused on commercializing novel products
that address significant patient needs.  The company currently
markets a portfolio of prescription products addressing large
primary care and pediatric markets.  The primary care portfolio
includes (i) Natesto, an FDA-approved nasal formulation of
testosterone for men with hypogonadism, (ii) ZolpiMist, an
FDA-approved oral spray prescription sleep aid, and (iii) Tuzistra
XR, an FDA-approved 12-hour codeine-based antitussive syrup.  

Aytu Bioscience reported a net loss of $27.13 million for the year
ended June 30, 2019, compared to a net loss of $10.18 million for
the year ended June 30, 2018.  As of Sept. 30, 2019, the Company
had $31.02 million in total assets, $28.70 million in total
liabilities, and $2.32 million in total stockholders' equity.

Plante & Moran, PLLC, in Denver, CO, the Company's auditor since
2015, issued a "going concern" qualification in its report dated
Sept. 26, 2019, on the Company's consolidated financial statements
for the year ended June 30, 2019, citing that the Company has
suffered recurring losses from operations and has an accumulated
deficit that raise substantial doubt about its ability to continue
as a going concern.


BAMA OAKS RETIREMENT: Case Summary & 20 Top Unsecured Creditors
---------------------------------------------------------------
Debtor: Bama Oaks Retirement, LLC
           DBA Gordon Oaks Assisted Living
        455 East Paces Ferry Road, NE
        Suite 302
        Atlanta, GA 30305

Business Description: Bama Oaks Retirement, LLC owns and operates
                      an assisted living facility in Mobile,
                      Alabama.

Chapter 11 Petition Date: February 1, 2020

Court: United States Bankruptcy Court
       Northern District of Georgia

Case No.: 20-61914

Debtor's Counsel: Theodore N. Stapleton, Esq.
                  THEODORE N. STAPLETON, P.C.
                  2802 Paces Ferry Road SE
                  Suite 100-B
                  Atlanta, GA 30339
                  Tel: (770) 436-3334
                  E-mail: tstaple@tstaple.com

Estimated Assets: $10 million to $50 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by Christopher F. Brogdon, manager.

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

                      https://is.gd/HhEWZT

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim    Claim Amount
   ------                          ---------------    ------------
1. Alabama Power                       Account             $11,188

P.O. Box 242
Birmingham, AL 35292

2. Anders, Boyett & Brady              Account              $4,448
3800 Airport Blvd.
Suite 203
Mobile, AL 36608

3. Brady Radcliff & Brown              Account              $2,700
61 Saint Joseph Street
Suite 1600
Mobile, AL 36602

4. Caring, Inc.                        Account              $5,525
P.O. Box 7689
San Francisco, CA 94120-7689

5. Certified Hood &                    Account              $1,975
Fire Specialists
P.O. Box 1963
Foley, AL 36536

6. Dauble & Associates, PC             Account              $4,512
555 Sun Valley Drive
Unit P-2
Roswell, GA 30076-5633

7. Ecolab                              Account              $2,266
P.O. Box 905327
Charlotte, NC 28290-5327

8. IntegraCare                         Account              $5,545
P.O. Box 610
Alabaster, AL 35007

9. Jennifer Cross                      Account              $2,500
916 Burdonne Drive
Biloxi, MS 93532

10. John Neila                         Account             $29,217
1575 Silk Oak Ave.
Titusville, FL 32796

11. Kone, Inc.                         Account              $4,552
P.O. Box 3491
Carol Stream, IL 30132-3491

12. MAWS                               Account              $5,959
P.O. Box 830130
Birmingham, AL 35283-0130

13. Maynard Cooper Gale                Account              $4,915
1901 Sixth Avenue
Suite 2400
Birmingham, AL 35203

14. Persons Service Co., LLC           Account              $7,634
4474 Hall Mills Road
Mobile, AL 36693

15. Robert's Electrical                Account              $2,178
7420-D Hitt Road
Mobile, AL 36695

16. S&S Sprikler Company, LLC          Account              $8,025
P.O.Box 7453
Mobile, AL 36670

17. Southeastern Fire Protection       Account              $5,800
3303 Scenic Circle
Saraland, AL 36571

18. Supreme Care, Inc.                 Account              $3,500
322 S. 6th Street
Griffin, GA 30224

19. Taylor Power Systems               Account              $3,220
P.O. Box 29
Louisville, MS 3933

20. Xerox Corporation                  Account              $3,345
P.O. Box 650361
Dallas, TX 75265-0361


BEARCAT ENERGY: Trustee Selling All Assets to Aspen for $2.5K
-------------------------------------------------------------
Jeffrey A. Weinman, the Chapter 11 Trustee for Bearcat Energy, LLC,
asks the U.S. Bankruptcy Court for the District of Colorado to
authorize the sale of substantially all of the Debtor's assets to
Aspen Oil and Gas Partners, LLC for $2,500, pursuant to the terms
of their Purchase and Sale Agreement dated Dec. 27, 2019.

Prior to the Petition Date, the Debtor was in the business of oil
and gas exploration and production.  More pointedly, the Debtor
owns approximately 600 coal bed methane wells, which are located in
the State of Wyoming, wherein it sought to exploit commercial
quantities of hydrocarbons.  The Debtor also has approximately 375
non-residential real property leases.  The Leases, together with
the Debtor's Wells, comprise the material assets of the bankruptcy
estate.  Under the terms of the PSA, most, but not all, of the
Debtor's Leases and Wells will be sold to Aspen.

Since his appointment, and as a matter of his business judgment,
the Trustee has actively sought to monetize the Debtor's assets.
He  listed the Debtor's Assets for sale to the general public
through EnergyNet.  Considering the longstanding availability of
the Assets, coupled with the prior efforts of the estate to sell,
the Trustee submits that more than sufficient marketing of the
Assets occurred, and sound business judgment underscores the
acceptance of the Aspen PSA.

On Dec. 5, 2019, the bid deadline, Aspen submitted the only offer
to purchase the Assets.  The Trustee and his professionals reviewed
and analyzed the offer before executing the PSA, which the Trustee
now submits to the Court for approval, subject to higher and better
offers.

Aspen offered fair and reasonable value for the Assets.  Namely, by
executing of the PSA, Aspen agreed to purchase the Assets for
$2,500 in cash, with a closing scheduled to occur by March 6, 2020.
Perhaps equally as important, Aspen's offer serves to free the
estate of significant liabilities.  Indeed, at least one
party-in-interest estimates such liabilities at $6.2 million.
Aspen American Insurance Co. ("AAIC") asserts that it is exposed to
approximately $6.2 million in liability to various bond obligees.
In addition, Aspen's offer unlocks approximately $2,376,368 in cash
for the benefit of the estate, which is currently the cash
collateral of AAIC.

Other salient terms of the PSA are:

     a. Aspen is paying $2,500 of the Assets; WAV was paying
$4,212,500;

     b. Aspen is seeking to complete its inspection of the
Properties by Jan. 30, 2020;

     c. Aspen has through February 2020 to obtain its bonding,
which in turn will release the Debtor's bonds; and

     d. Aspen is seeking to close on March 30, 2020.

To facilitate the sale of the Assets, the Trustee also asks
authorization to sell all of the Assets free and clear of any and
all liens, encumbrances, and other interests as of the closing,
other than as provided in this Motion and the PSA.  The Trustee is
not aware of any material secured claims against the Assets.
Moreover, the proposed sale, coupled with the estate's
cash-on-hand, appears more than sufficient to satisfy any
purportedly secured party's claim upon closing.

To the extent necessary, the Trustee asks that the Court approves
the assumption and assignment of those executory contracts and the
Leases being assigned to Aspen pursuant to the PSA.  Aspen will be
responsible for the cure amounts owed in connection with all
contract assumptions.

The Trustee asks approval to pay sales commissions to EnergyNet for
services rendered hosting the sale auction, including listing and
marketing the Assets for sale across their online auction platform.
Therefore, the Trustee asks that the order approving the sale also
permits the Trustee to compensate EnergyNet at its customary rate
by paying it the commissions earned by facilitating the sale to
Aspen, which total $80,000 of fees and commissions.

The Trustee asks a waiver of any stay of the effectiveness of the
orders approving the relief requested in the Motion.  The sale
should be effectuated expeditiously to ensure that the Debtor does
not face continued diminution to the value of the estate.  Thus,
cause exists for a waiver of the 14-day stay.

A copy of the PSA is available at https://tinyurl.com/t4knkvf from
PacerMonitor.com free of charge.

The Purchaser:

          Craig M. Camozzi
          ASPEN OIL AND GAS PARTNERS, LLC
          7900 E. Union Ave, Suite 1100
          Denver, CO 80237
          E-mail: cmcaspen@aol.com

                     About Bearcat Energy

Bearcat Energy LLC, based in Denver, CO, filed a Chapter 11
petition (Bankr. D. Colo. Case No. 17-12011) on March 14, 2017.  In
the petition signed by Keith J. Edwards, CEO, the Debtor was
estimated to have up to $50,000 in assets and  $1 million to $10
million in liabilities.  The Hon. Elizabeth E. Brown presides over
the case.  Kenneth J. Buechler, Esq., at Buechler & Garber, LLC, to
serve as bankruptcy counsel.


BED BATH: Moody's Lowers Sr. Unsec. Rating to Ba2, Outlook Stable
-----------------------------------------------------------------
Moody's Investors Service downgraded Bed Bath & Beyond Inc.'s
senior unsecured rating to Ba2 from Baa3. Moody's assigned the
company a Ba2 Corporate Family Rating, Ba2-PD Probability of
Default rating and a Speculative Grade Liquidity rating of SGL-1.
The outlook is stable. This completes the review of Bed Bath's
ratings that commenced on October 28, 2019.

"The two notch downgrade reflects the acceleration of declines in
same store sales and further erosion of EBITDA that will cause
debt/EBITDA and EBIT/interest metrics to fall below previous
estimates", stated Moody's analyst Peggy Holloway. "The
transformation will likely take another two years to fully
implement and is occurring at a time of softness in the homewares
sector, and so Bed Bath remains vulnerable to continued market
share loss to competitors who have adjusted more quickly to the
changing retail environment," added Holloway. Bed Bath is expected
to continue to pursue a balanced financial policy that includes
conserving cash while investing in the transformation and
continuing its dividend and modest share repurchases from available
cash. Moody's estimates EBIT/Interest and debt/EBITDA (on a Moody's
adjusted basis) will deteriorate to 3.5x and 1.8x, from 3.1x and
2.2x, respectively, over the next 12 to 18 months.

The new CEO, Mark Tritton, has articulated a number of initiatives
aimed to capitalize on Bed Bath's solid brand awareness by
improving the company's e-commerce capabilities which is essential
to facilitating communication with customers regarding the
company's value proposition and enable a better on-line shopping
experience. Additional focus on optimizing the company's asset base
(evidenced by a recent sale-leaseback), reviewing extraneous
banners for possible sale, resetting the cost structure and
revamping the executive suite highlights the comprehensive nature
as well as the execution risk of the transformation underway.

Credit metrics have deteriorated with EBIT/interest dropping to
2.2x as of LTM November 30, 2019 from 2.7x as of FY18 while
debt/EBITDA of 3.1x has benefited solely from new lease accounting
standards that values the company's lease liability at
approximately $2.2 billion (about 3.9x rent) versus $2.9 billion
(5x rent) previously. Using the prior lease accounting methodology,
debt/EBITDA would have increased to 3.5x due to declining EBITDA.

Downgrades:

Issuer: Bed Bath & Beyond Inc.

Senior Unsecured Regular Bond/Debenture, Downgraded to Ba2 (LGD4)
from Baa3

Assignments:

Issuer: Bed Bath & Beyond Inc.

Probability of Default Rating, Assigned Ba2-PD

Speculative Grade Liquidity Rating, Assigned SGL-1

Corporate Family Rating, Assigned Ba2

Outlook Actions:

Issuer: Bed Bath & Beyond Inc.

Outlook, Changed To Stable From Rating Under Review

RATINGS RATIONALE

Bed Bath & Beyond Inc. is constrained by declining same store sales
and above average expenses (to support key initiatives) that will
continue to negatively impact operating income. The company is
fighting competition from e-commerce and other value players,
including Home Goods and Wayfair, as well as traditional players
such as Target Corporation, Walmart Inc. and Amazon.com, Inc. While
the company's investments targeted at improving product assortment,
marketing, inventory, supply chain optimization and omnichannel
capabilities are necessary, concern remains whether or not the
turnaround will happen swiftly enough for Bed Bath to retain
relevance with its customers in light of stiff competition.

The company benefits from scale as the largest dedicated retailer
of domestics merchandise and home furnishing, its national
footprint supported by a good distribution network, and financial
flexibility to support its transformation effort. Financial
flexibility is evidenced by cash and marketable securities of
around $920 million (at 11/30/19) relative to $1.5 billion of
funded debt and positive annual free cash flow (CFO minus capex and
dividends). Additionally, leases on approximately 500 stores (33%
of total stores as of FQ319) come up for renewal over the next two
years affords Bed Bath the opportunity to exit lower performing
stores, move the business to nearby stores, and lower occupancy
costs.

The stable outlook reflects Bed Bath's ability to cover its capital
needs, dividends and share repurchases from cash on hand, and cash
flow and Moody's expectation the company will maintain balanced
financial policies and very good liquidity. Moody's outlook
incorporates some tolerance for continued revenue and earnings
pressure as the transformation continues.

Ratings could be downgraded if the company's strong liquidity
position deteriorates for any reason or if it is unable to gain
traction with respect to key initiatives, including the roll-out of
improved omni-channel capabilities, resetting the cost structure
and strengthening the management team. Quantitatively, ratings
could be downgraded if debt/EBITDA is sustained above 4.0x or
EBIT/interest falls below 1.75x.

A ratings upgrade would be considered after the transformation has
taken hold evidenced by increasing comparable sales and rising
margins with debt/EBITDA below 3.25x and EBIT/interest above 2.0x

Headquartered in Union, NJ, Bed Bath & Beyond Inc is a onmi-channel
retailer selling a wide assortment of domestics merchandise and
home furnishings which operates under the names Bed Bath & Beyond,
Christmas Tree Shops, Christmas Tree Shops andThat! or andThat!,
Harmon, Harmon Face Values or Face Values, buybuyBABY and World
Market, CostPlus World Market or Cost Plus, One Kings Lane,
PersonalizationMall.com, and Decorist. The Company also operates
Linen Holdings, a provider of institutional textiles. LTM revenues
were approximately $11.3 billion.

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


BIKRAM'S YOGA: Trustee Proposes Sherriff's Sale of Collector Cars
-----------------------------------------------------------------
Robbin L. Itkin, Chapter 11 trustee for Bikram's Yoga College of
India LP and affiliates, asks the U.S. Bankruptcy Court for the
Central District of California to authorize the Sheriff's Sale of
the collector cars listed on Schedule 1.

Bikram Choudhury is famously a collector of high-end classic cars
like Bentleys, Rolls Royces, Ferraris, Mercedes and others.  But
Mr. Choudhury did not pay for his car collection -- Bikram's Yoga
College of India LP ("BYCOI did").  More than $4 million in the
Debtor funds were used to pay for, improve, store, insure and
otherwise maintain these cars.  While there may be as many as
approximately 45 collector cars, the Motion, and the Collector Car
Settlement Motion and the agreements it approved, relate to a
subset of 22 of these collector cars that have been located to date
and as identified on Schedule 1 to the Agreement.

On Dec. 4, 2019, the Court entered the Settlement Order granting
the Collector Car Settlement Motion and approving the Settlement
Agreements and other relief, including expedited consideration of
the Motion.  As approved, the Settlement Agreements resolve
competing claims of EFT and East Florida Hauling ("EFH") and
Minakshi Jafa-Bodden in the Collector Cars and provides a
distribution scheme that was approved by the Court without
objection.

After entry of and consistent with the Settlement Order, the
Trustee obtained a writ of execution and, on Dec. 9, 2019, the
Miami-Dade County Sheriff or his designees levied upon the
Collector Cars and left them at EFH's warehouse located at 7227 NW
29th Avenue, Miami, FL 33147.  The Sheriff will conduct the
Sheriff's Sale of the Collector Cars on Jan. 22, 2019 at 11:00
a.m., after an appropriate marketing period and process in
accordance with Florida law, at the Warehouse.  As set forth in the
Collector Car Settlement Motion, the Trustee intends to purchase
some or all of the Collector Cars at the Sheriff's Sale via her
ability to credit bid.

With respect to the cars obtained by credit bid at the Sheriff's
Sale, pursuant to the Motion, the Trustee asks authority to have
them sold at auction by well-known and reputable car auction
company RM Auctions, Inc., a subsidiary of RM Sotheby's.  RM has
agreed transport and safely store the cars upon the closure of the
Sherriff's Sale pending RM’s well-known Florida auction that will
take place in West Palm Beach, Florida on March 20 and 21, 2020.  

As the Sheriff'’s Sale is imminent, the Trustee respectfully
asks, pursuant to the Settlement Order, that the Motion be approved
so that immediately upon completing the credit bidding at the
Sheriff's Sale and taking possession of the cars, RM can safely
store them and commence the robust marketing process for sale of
the cars at the auction in March 2020.

A summary of key terms and concessions by RM after negotiations
with the Trustee, where applicable, follows:

                                     Trustee's Term     RM's
Standard Term

     Seller's premium                      8%                  10%

     Buyer’s premium                      10%                 
10%
     Transportation and Storage          Waived              At
cost
     Title correction fee                Waived        At least
$500 per car
     Auction Preparation Fee     At cost, capped at          At
cost
     (preparing the Collector     $33,000 (estimated
   Cars for sale at the Auction)  at $1500 per car)
     Advertising Fee                     Waived         In excess
of $7,700
      Withdrawal fee            Out of pocket costs,  $500 per car
plus out of
                                 capped at $40,000     pocket costs
(storage,
                                                       marketing,
preparation,
                                                              
etc.)

Through the Agreement, RM will prepare the Collector Cars for
Auction at the highest and best price possible. Although RM made
many concessions, three are of particular note.  

First, RM has agreed to waive the title correction fee and assist
with clearing the title of the Collector Cars. The Collector Cars
have been transferred from several entities and will be subject to
the Sheriff's Sale.  Clearing title so that a buyer will pay top
dollar for the Collector Cars is essential.  RM's staff is well
suited to assist the Trustee with this task.

Second, limiting the Auction Preparation Fee is an important
concession by RM - the Collector Cars have been in storage for
years and some may need repairs.  They are dirty and, in order to
maximize their sales price, must be revitalized.  Through the
Auction Preparation Fee, RM will clean and repair the Collector
Cars, as necessary, and otherwise prepare them for the Auction.  RM
will coordinate these matters, which will reduce professional time
associated with such efforts.  Additionally, RM has agreed to an
aggregate cap of $33,000 for these services. Moreover, RM has
agreed to store the Collector Cars until the Auction at its cost.

Third, capping the Withdrawal Fee at $40,000 ensures that, if the
Trustee were to obtain a better offer for the Collector Cars than
she, in her business judgment, believes she will obtain at the
Auction, she retains the right to consider and, if appropriate,
accept such offer.

At the conclusion of the Auction and prior to receiving the
Seller's premium, RM will prepare, and the Trustee will file, a
report with the Court that identifies the buyer(s) and the price
paid for each of the Collector Cars.  Once the report is prepared
and agreed to by the Trustee, RM will remit net proceeds, including
after payment of the Seller's Premium, from the Auction to the
Trustee for distribution in accordance with the Settlement
Agreements.

The Trustee asks approval to sell the Collector Cars free and clear
of any and all liens, claims, interests and encumbrances,

There are a number of costs that will be paid by and reimbursed to
the BYCOI estate out of the sale proceeds or will be paid directly
from the Auction proceeds, before any distributions under the
Settlement Agreements.  These include, but are not limited to, the
following: (i) up to $33,000 for the Auction Preparation Fee; (ii)
$2,387 for levy fees; (iii) 7% Florida sales tax, based on the
price at which the Collector Cars are purchased at the Sheriff's
Sale by Credit Bid; (iv) 8% Seller's Premium to be paid based on
the sales price at the Auction; and (v) other costs associated with
noticing, marketing, court costs and fees, etc., to be billed at
cost pursuant to the Settlement Agreements.

Although total costs are unknown, the Trustee estimates that they
will be approximately $150,000 to $200,000, but the actual amount
will vary based on the price at the Sheriff's Sale.  As applicable,
these amounts will be paid and reimbursed before any distributions
are made on account of the Settlement Agreements.

As of the date of the Motion, as set forth in the RM Declaration,
the Trustee understands that RM and all of its associates are
disinterested persons as that term is defined in Bankruptcy Code
section 101(14).  Except as set forth in the RM Declaration,
neither RM nor any of its associates are connected with the
Trustee, the Debtors, their creditors, any other party in interest,
their respective attorneys and accountants, or to these estates,
and have no relation to any bankruptcy judge presiding in the
district, the Clerk of the Court or any relation to the United
States Trustee in the district, or any person employed at the Court
or the Office of the United States Trustee, nor does RM or its
associates represent or hold an adverse interest with respect to
the Debtors, any creditor, or to these estates.

Finally, any delays in consummating the transactions and sales
contemplated by the Agreement risk impeding on the Auction and
place unnecessary risk on the BYCOI estate. Accordingly, the
Trustee asks the Court to waive the 14-day stay promulgated under
Bankruptcy Rule 6004(h).

A hearing on the Motion is set for Jan. 21, 2020 at 11:30 a.m.

                       About Bikram's Yoga

Indian yoga guru Bikram Choudhury founded Bikram Choudhury Yoga,
the studio that popularized doing yoga in sauna heat.  Choudhury
built a worldwide following with 26 yoga postures, known as Bikram
Yoga, in rooms heated to 105 degrees Fahrenheit.

Bikram's Yoga College of India, and related entities Bikram
Choudhury Yoga Inc., Bikram Inc., Yuz Inc., and Int'l Trading
Representative sought Chapter 11 protection (Bankr. C.D. Cal. Lead
Case No. 17-12045) on Nov. 9, 2017 after being dogged by $16.7
million in legal judgments.

Mr. Choudhury is facing allegations and lawsuits of sexual
misconduct by a number of his yoga practitioners, students,
instructors and teacher trainees.  The yoga guru has denied
wrongdoing but has fled the U.S. after a warrant has been issued
for his arrest in May.  A warrant for his arrest was issued for his
arrest after he failed to pay a judgment awarded to Minakshi
Jafa-Bodden, his former legal counsel.

Bikram's Yoga College of India estimated under $100,000 in assets.

Bikram Choudhury Yoga Inc. estimated under $50,000 in assets.
Bikram Inc. estimated under $1 million in assets.  Yuz Inc.
estimated under $100,000 in assets.  Int'l Trading Representative
listed under $500,000 in assets.  The Debtors, other than Int'l
Trading, estimated under $50 million in estimated liabilities.
Int'l Trading said its liabilities are under $500,000.

The Chapter 11 petitions were signed by John A. Bryan, Jr., as CEO.
An Oct. 15, 2017 document attached to the petition showed that Mr.
Choudhury, general partner, appointed Mr. Bryan as CEO and Chief
Restructuring Officer.  Mr. Bryan is the CEO of restructuring firm
The Watley Group, LLC.

The case judge is Hon. Deborah J. Saltzman.  

Levene, Neale, Bender, Yoo & Brill LLP serves as counsel to the
Debtors.  The Watley Group is the restructuring advisor.

Robbin Itkin was appointed Chapter 11 trustee for the Debtor on
April 4, 2018.  The trustee hired DLA Piper LLP (US) as her legal
counsel.


BLACKROCK CAPITAL: Fitch Affirms BB+ LongTerm IDR, Outlook Stable
-----------------------------------------------------------------
Fitch Ratings affirmed BlackRock Capital Investment Corporation's
Long-Term Issuer Default Rating, senior secured debt and senior
unsecured debt ratings at 'BB+'. The Rating Outlook is Stable.

The rating actions have been taken as part of Fitch's periodic peer
review of Business Development Companies, which comprises 10
publicly rated firms.

KEY RATING DRIVERS

IDR AND SENIOR DEBT

The rating affirmations reflect the firm's affiliation with global
investment manager BlackRock Inc., which Fitch believes provides
BKCC with enhanced risk management and back office capabilities,
Wall Street relationships and broader industry and market insights.
Fitch believes that BlackRock's acquisition of BlackRock TCP
Capital Corp. in 2018 should improve the scale and competitive
positioning of the platform and enhance BKCC's deal flow as a
result of exemptive order relief. The ratings also reflect BKCC's
current low absolute leverage compared with peer BDCs and declining
exposure to troubled legacy assets.

Rating constraints specific to BKCC include weaker-than-peer credit
performance since inception, above-average exposure to equity
investments relative to peers, inconsistent operating performance,
weak dividend coverage, elevated portfolio concentrations, and
turnover in the management team in recent years, which yields more
limited experience running a BDC. In addition, Fitch believes that
there is execution risk associated with BKCC's long-term strategy
of exiting its remaining legacy positions and rebalancing the
portfolio toward more first lien, yielding debt investments and
plans to increase leverage at a time when deal structures and terms
are weaker.

Rating constraints for the BDC sector more broadly include the
market impact on leverage, given the need to fair-value the
portfolio each quarter, dependence on access to the capital markets
to fund portfolio growth and a limited ability to retain capital
due to dividend distribution requirements. Additionally, the
competitive underwriting environment has yielded deterioration in
deal terms in the middle market, including fewer/looser covenants,
higher underlying leverage, lower underlying interest coverage and
tighter spreads. Fitch believes this backdrop could contribute to
asset quality deterioration in the sector when the cycle turns, and
BDCs with more limited access to deal flow and looser underwriting
standards are likely to experience weaker performance. Recently
relaxed regulatory limits on leverage are an evolving sector
headwind, which could contribute to increased risk profiles for
individual BDCs and elevated competition amongst BDCs.

On Oct. 30, 2019, BKCC announced that it received approval from its
board of directors to reduce its asset coverage requirement to 150%
from 200%, which effectively allows the firm to increase its
leverage ratio to a maximum of 2.0x from 1.0x, effective on Oct.
29, 2020. BKCC has communicated a long-term targeted leverage range
of 1.00x-1.25x; up from a targeted range of 0.70x-0.75x previously.
The company will be subject to a waiting period of 12 months before
pursuing an increase in leverage, unless approval from shareholders
is received earlier, and will also need to amend its bank facility
covenants. Upon the new asset coverage requirement becoming
effective, BKCC will reduce its annual base management fee to 1.50%
from 1.75% and will further reduce the base management fee to 1.00%
on all assets financed using leverage above 1.0x.

Fitch expects that leverage will remain within the firm's current
targeted range of 0.70-0.75x in the near-term given the current
portfolio mix, which includes outsized exposure to legacy equity
investments. Longer term, Fitch expects the proposed increase in
leverage to be accompanied by an improvement in the risk profile of
the portfolio as BKCC has articulated that an increase in leverage
from current levels will be driven by further declines in non-core
legacy investments. Fitch expects the asset coverage cushion will
be maintained at a level sufficient to account for potential
valuation volatility and/or credit losses.
Leverage, as measured by par debt to equity, amounted to 0.63x at
Sept. 30, 2019, which is below the firm's current targeted range
and compares favorably with BDC peers on an absolute basis.
However, leverage has increased materially from 0.40x at YE 2018,
which Fitch views unfavorably as management is still working
through certain underperforming legacy investments in the portfolio
and equity exposures have continued to result in portfolio
valuation volatility. Fitch believes a continued increase in
leverage without a decline in the portfolio's exposure to equity
investments and other underperforming legacy investments would
likely result in negative rating action. Fitch estimates that
BKCC's asset coverage cushion amounted to approximately 24.3% at
Sept. 30, 2019; down from 31.8% in the prior quarter.
Asset quality trends have been weak in recent years and BKCC
recorded net realized losses representing approximately 3.4% of the
average portfolio, at value, in the nine-months ended 2019 (9M19),
which has continued a trend of elevated losses driven by ongoing
challenges in the legacy portfolio. Fitch believes that there is
the potential for incremental portfolio losses until all remaining
legacy non-core investments have been exited. Additionally, Fitch
believes sector credit performance is unsustainably good, which
could result in additional portfolio losses in the future as the
core portfolio seasons. At Sept. 30, 2019, legacy non-core
investments accounted for 18% of BKCC's portfolio at fair value,
down from 28% at the end of 2Q19 following the exit of BKCC's
second lien and equity investments in Vertellus Holdings LLC, which
was previously the largest investment in the non-core portfolio.

Total equity exposure, excluding the investment in BCIC Senior Loan
Partners, LLC, was 9.7% of the portfolio at fair value at 3Q19,
which is down from 17.6% a year ago. As a result of elevated
exposure to equity investments, BKCC's portfolio has experienced
above-average valuation volatility, which drove net realized and
unrealized losses of $22.3 million during 3Q19. Legacy non-core
assets in the portfolio contributed to 85% of this loss. Management
is focused on opportunistically monetizing equity positions and
redeploying proceeds into yielding debt investments over time,
which should improve the stability of NII and limit further
declines in NAV resulting from market movements. Still, Fitch
believes there is execution risk associated with this strategy as
the timing of additional exits is uncertain and the price at which
these investments are exited could drive additional losses for
BKCC.

BKCC's portfolio remains more concentrated than that of its BDC
peers, with the top 10 portfolio companies representing 62.1% of
total assets at Sept. 30, 2019. Still, this ratio declined from
75.2% a year ago as BKCC was able to exit certain large investments
and leverage the broader BlackRock platform to increase
originations of investments in new portfolio companies during 9M19.
Management expects BKCC's competitive positioning to continue to
improve as the BlackRock platform is now able to take on larger
hold sizes in deals following the acquisition of TCPC and continued
growth of the direct lending platform. Additionally, BKCC's
portfolio risk should improve if it is able to participate in more
deals where BlackRock, through BKCC and other funds, is the
majority lender in the tranche.

Fitch will continue to monitor BKCC's ability to retain its
financial flexibility over time. At Sept. 30, 2019, 51.1% of BKCC's
outstanding debt (at par) was unsecured, which is viewed favorably
by Fitch. The current proportion of unsecured debt is above Fitch's
quantitative benchmark range of less than 35% for BDCs in the 'bb'
rating category; however, that percentage could decline should the
firm draw on its secured credit facility to fund portfolio growth.
Failure to maintain economic access to the unsecured markets over
time could yield negative rating actions.

Fitch views BKCC's liquidity position as adequate. At Sept. 30,
2019, BKCC had $3.4 million of balance sheet cash and $202.1
million of undrawn capacity under its senior secured credit
facility, subject to leverage restrictions. BKCC does not have any
debt maturities until June 2022, when $143.8 million of convertible
notes come due. The credit facility is also scheduled to mature in
June 2022, but Fitch believes that the facility could be extended
prior to that time. Fitch believes borrowing capacity remains
sufficient currently, as leverage would increase to 1.08x if the
credit facility were fully drawn, which is not expected over the
near term, given the firm's portfolio mix and 200% asset coverage
requirement until Oct. 29, 2020. Longer term, the reduction in
borrowing capacity could become a rating constraint if it impacts
BKCC's ability to grow and/or if BKCC does not access additional
funding in advance of the 2022 debt maturity. In order for BKCC to
reach the upper end of its long-term targeted leverage range, the
firm will need to increase capacity under its existing secured
credit facility and/or add additional funding sources.

During the first nine months of 2019, NII amounted to 93.8% of
dividends declared, which is weak compared with peers. BKCC's cash
earnings coverage of the dividend, which adjusts for
payment-in-kind (PIK) income, was lower at 84.4%. However, the
adjustment for PIK does not account for prior PIK accruals that
have since been received in cash, which is a figure that is not
publicly disclosed. BKCC cut its dividend to $0.14 per share from
$0.18 per share beginning 3Q19, which Fitch believes was prudent.
As a result, NII coverage of dividends declared improved to 100% in
3Q19. However, the recent dividend cut marked the second dividend
cut since BlackRock took over management responsibilities in 2015,
which Fitch believes reflects the extended period of time that it
has taken to exit legacy investments and reposition the portfolio
relative to management's initial expectations. Fitch expects
dividend coverage to remain solid given the lower dividend level
and portfolio rotation into more yielding debt investments. While
the expiration of the incentive fee waiver in 2Q19 could offset
some of the benefits of the lower dividend level, Fitch believes
that management will continue to waive fees, if necessary, to cover
the dividend as demonstrated during 3Q19 when the firm voluntarily
waived $1.2 million of the $2.1 million of incentive fees that the
advisor was entitled to during the quarter.

The Stable Outlook reflects Fitch's expectation that BKCC will
continue to manage leverage within its current 0.70x-0.75x target
in the near term, continue to reduce exposure to equity and other
legacy investments without realizing additional outsized losses,
demonstrate solid credit performance on investments originated by
the current management team, and leverage its relationship with
Blackrock and TCPC to enhance deal flow. The Stable Outlook also
reflects the expectation for solid dividend coverage and the
maintenance of sufficient liquidity.

The equalization of the secured and unsecured debt ratings with the
Long-Term IDR reflects solid collateral coverage for all classes of
debt given that BKCC is currently subject to a 200% asset coverage
limitation and will be subject to a 150% asset coverage limitation
following the 12-month waiting period.

RATING SENSITIVITIES

IDR AND SENIOR DEBT

Negative rating momentum could result from a material increase in
leverage without a commensurate decline in the portfolio risk
profile, material asset quality deterioration in investments
originated by the current management team, incremental outsized
realized losses in the legacy portfolio, and/or an inability to
improve operating performance and dividend coverage for a sustained
period. Longer term, should BKCC fail to maintain economic access
to the unsecured funding markets, ratings could also be pressured.

Fitch believes higher leverage increases the sensitivity of the
ratings to downward pressure, at least until the strategy is
executed upon and credit performance of recent underwriting
vintages can be fully assessed.

Fitch believes the planned increase in leverage limits the
likelihood of upward rating momentum, at least until the credit
performance of recent underwriting vintages can be fully assessed
and continued economic access to unsecured funding can be assured.
Thereafter, positive rating momentum will depend on BKCC's ability
to continue to leverage its relationship with the broader BlackRock
platform (including TCPC) to benefit BKCC's competitive positioning
in the market and demonstrate strong asset quality performance,
particularly on investments originated by the current management
team. Positive rating momentum would also be contingent upon BKCC's
ability to exit its remaining legacy non-accrual and equity
investments and reduce exposure to other legacy investments without
incurring material additional realized and/or unrealized portfolio
losses; to maintain leverage at a level commensurate with the
portfolio risk profile; to demonstrate increasingly consistent
operating performance and sustained NII coverage of the dividend of
over 100%; and to maintain sufficient liquidity.

The secured and unsecured debt ratings are linked to the IDR and
would be expected to move in tandem, although a meaningful increase
in the proportion of secured debt financing could result in the
unsecured debt rating being notched down from the IDR.

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.

BlackRock Capital Investment Corporation has an ESG Relevance Score
of 4 for Management Strategy due to the execution risk associated
with the portfolio rotation out of legacy underperforming
investments and the redeployment of proceeds into yielding senior
debt investments, which is relevant to the rating in conjunction
with other factors.

Headquartered in New York, NY, BKCC is an externally managed BDC
incorporated on April 13, 2005. At Sept. 30, 2019, the company had
investments in 43 portfolio companies amounting to approximately
$725.9 million.


BRAND BRIGADE: Unsecureds to Recover 10% in Plan
------------------------------------------------
Brand Brigade, LLC, has proposed a reorganization plan.

The Debtor will fund the Plan from a combination of cash flow from
business operations and money capital contributed by new equity.
The Plan provides for the payment of 10% to holders of allowed
general unsecured claims, and payment to the sole secured creditor
in Class 1 in full, with interest.  All administrative and other
statutory unsecured priority claims shall be paid in full.

The Debtor will fund the Plan from its cash on hand on the
Effective Date, ongoing income from operations and the new value
contribution.

In connection with Plan confirmation, an individual or entity to be
formed ("New Equity") will contribute the sum of $50,000 as a "new
value" contribution to the Debtor, which will be deposited into
Debtor's counsel's trust account not later than 7 days before the
Plan Confirmation hearing.

The Disclosure Statement hearing will be held:

      DATE: March 4, 2020
      TIME: 2:00 p.m.
      PLACE: Courtroom 1539
      255 East Temple Street
      Los Angeles, CA 90012

A full-text copy of the Disclosure Statement dated Jan. 22, 2020,
is available at https://tinyurl.com/vv9q9hj from PacerMonitor.com
at no charge.

General bankruptcy counsel for the Debtor:

     Daniel H. Reiss
     Jeffrey S. Kwong
     LEVENE, NEALE, BENDER, YOO & BRILL L.L.P.
     10250 Constellation Blvd., Suite 1700
     Los Angeles, CA 90067
     Tel: (310) 229-1234
     Fax: (310) 229-1244
     E-mail: dhr@lnbyb.com
             jsk@lnbyb.com

                      About Brand Brigade

Based in Anaheim, Calif., Brand Brigade LLC filed a voluntary
petition for relief under Chapter 11 of the Bankruptcy Code (Bankr.
C.D. Cal. Case No. 19-16397) on May 31, 2019, listing under $1
million in both assets and liabilities.  Jeffrey S. Kwong, Esq., at
Levene Neale Bender Yoo & Brill LLP, is the Debtor's bankruptcy
counsel.  Shore Law Offices is the special litigation advisory
counsel.


BROADBAND NATION: Case Summary & 2 Unsecured Creditors
------------------------------------------------------
Debtor: Broadband Nation LLC
        2392 Morse Avenue
        Irvine, CA 92614

Chapter 11 Petition Date: February 1, 2020

Court: United States Bankruptcy Court
       Central District of California

Case No.: 20-10372

Judge: Hon. Mark S. Wallace

Debtor's Counsel: Robert P. Goe, Esq.
                  GOE FORSYTHE & HODGES LLP
                  18101 Von Karman Avenue
                  Suite 1200
                  Irvine, CA 92612-7127
                  Tel: (949) 798-2460
                  E-mail: rgoe@goeforlaw.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $10 million to $50 million

The petition was signed by Bruce Elieff, manager.

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/pLNBy8


C&S GROUP: Moody's Lowers CFR to Ba3, Outlook Stable
----------------------------------------------------
Moody's Investors Service downgraded C&S Group Enterprises LLC's
corporate family rating to Ba3 from Ba2 and its probability of
default rating to Ba3-PD from Ba2-PD. Moody's also downgraded the
company's senior secured notes rating to B1 from Ba3. The outlook
is stable. This concludes the ratings review which was initiated on
December 11, 2019.

"Although the loss of Ahold revenue will be in increments through
2024, it will ultimately lower EBITDA significantly", Moody's Vice
President Mickey Chadha stated. "If the loss of revenue and EBITDA
is not offset by proportionate cost cuts or increased revenue and
if the company does not reduce debt its leverage will remain
elevated", Chadha further stated.

Downgrades:

Issuer: C&S Group Enterprises LLC

Probability of Default Rating, Downgraded to Ba3-PD from Ba2-PD

Corporate Family Rating, Downgraded to Ba3 from Ba2

Senior Secured Regular Bond/Debenture, Downgraded to B1 (LGD5) from
Ba3 (LGD5)

Outlook Actions:

Issuer: C&S Group Enterprises LLC

Outlook, Changed To Stable From Rating Under Review

RATINGS RATIONALE

C&S' rating reflects the company's leading position in a highly
fragmented industry, a moderate funded debt level, and good
liquidity. The rating also reflects the risks associated with the
company's high customer concentration, it's very thin margins, and
its high fixed cost structure. C&S's debt/EBITDA is currently about
4.2 times. In December 2019 the company was notified by one of its
largest customers, Koninklijke Ahold N.V., that Ahold will not be
renewing its contract with C&S. Instead, Ahold intends to assume
the procurement role in connection with their plans to transform
their supply chain and distribution network operations. In fiscal
2019, C&S' net sales to Ahold accounted for $10.9 billion or 42% of
its grocery and distribution sales. Absent any new business
additions or other changes in the existing business, C&S's grocery
wholesaling and distribution net sales to Ahold will decline to
$10.1 billion, $9.2 billion, $5.1 billion, $1.6 billion and $1.1
billion for each of fiscal 2020, 2021, 2022, 2023 and 2024. C&S has
agreed to sell certain assets to Ahold for a total purchase price
of $271 million including its Chester, NY, facilities, ES3, LLC's
York, PA facilities including fixtures and equipment at those
facilities and its Bethlehem, PA facility and nearly 700 trailers.
Proceeds from the sale could be used to reduce debt or be invested
back into the company including for acquisitions as C&S could be
compelled to grow top line through debt funded acquisitions if
organic growth does not materialize. C&S' profitability has already
been negatively impacted by the continued investment in its
Warehouse Technologies business, and the loss of the significant
revenue base makes the improvement in profitability of this
division increasingly important.

The stable outlook reflects Moody's expectation that the company
will be able to reduce costs in proportion to its revenue declines
and/or reduce debt in order to prevent deterioration in credit
metrics such that debt/EBITDA and EBITA/interest adjusted for
leases and pensions will remain around 4.0 to 4.5 times and 1.5 to
2.0 times respectively for the next 12-18 months.

A rating upgrade would require a stable operating environment,
increase in business volumes to at least partially offset the loss
of the Ahold business, Warehouse Technologies business trending
towards profitability, balanced financial policies particularly
regarding future growth through acquisitions, sustained
EBITA/interest above 2.0 times, and sustained debt/EBITDA below 4.0
times.

Any other material loss of revenue or negative impact on cash flow
from serviced stores due to closures or divestitures or loss of any
other material customer (other than Ahold) could result in a
downgrade. Quantitatively, ratings could be downgraded if the
company does not use proceeds from the asset sales to reduce debt
and EBITA/interest is sustained below 1.5 or debt/EBITDA remains
above 4.75 times.

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

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


C2R GLOBAL: Quarles & Brady Wins $407,335 in Fees for Patent Work
-----------------------------------------------------------------
Judge Beth E. Hanan of the U.S. Bankruptcy Court for the Eastern
District of Wisconsin allowed the interim fees of Quarles & Brady,
special counsel for patent and related matters to C2R Global
Manufacturing, Inc., in the amount of $365,091.75 and expenses in
the amount of $42,243.74, for a total of $407,335.49, pursuant to a
amended second fee application.  

On January 10, 2019, the Court approved the employment of Quarles &
Brady LLP, effective as of October 29, 2018, to act as special
counsel on patent and related matters, general business matters and
possible sale of debtor C2R Global Manufacturing, Inc.

On December 28, 2018, Verde Environmental Technologies, Inc. filed
a proof of claim in the amount of $6,821,918 for damages arising
from a lawsuit it commenced against the debtor approximately seven
months before the debtor initiated this bankruptcy case.  Verde's
suit asserts claims of patent infringement and false advertising,
and seeks monetary damages and injunctive relief.  The debtor
answered the complaint in district court, and objected to Verde's
proof of claim in this Court, asserting a number of defenses
including patent invalidity.

Quarles & Brady submitted its first interim application for fees
and expenses on August 27, 2019, for the eight-month period from
October 28, 2018 through June 30, 2019, for the amount of
$133,901.30 ($130,464.50 in fees and $3,436.80 in expenses). No
party objected to that application. The Court reviewed and approved
it.

Quarles & Brady submitted a second interim fee application on
December 6, 2019, for the five-month period of July 1, 2019 through
November 30, 2019, in the amount of $485,551.29 ($439,298.50 in
fees and $46,252.79 in expenses).  The debtor asked that the Court
enter an order approving the application on December 31, 2019 so
that the debtor could pay its special counsel by year end.  The
debtor asserted that, due to tax considerations, it would save
approximately $100,000 by paying the Quarles firm before January 1,
2020, and so sought a shortened period of approval under Section
331 of the Code.

On December 13, 2019, creditor POP-Solutions filed an objection,
asserting that the amount of fees and expenses sought in the second
interim fee application would deplete over 75% of the debtor's
current cash on hand.  POP asked the Court to make a downward
adjustment, but offered no comparative rates in support of its
argument.  Quarles & Brady responded to POP's objection, describing
the patent litigation as vital to the outcome of the debtor's
bankruptcy, an outcome which should benefit creditors like POP.
Quarles & Brady, while maintaining that all fees were reasonable,
and denying that the debtor was administratively insolvent, agreed
to reduce its requested fees by $20,000 as an accommodation to the
debtor and to resolve an informal objection received from the
United States Trustee's office related to a "limited number of
lumped time entries."

The Court held a hearing on December 23, 2019, at the conclusion of
which Quarles & Brady agreed to submit an amended fee application
resulting in a substantial reduction in fees.

During the December 23, 2019 hearing, the Court pointed to several
requirements of its Local Rules, including the rule requiring a
description of the background and experience of timekeepers.

The Court notes that Local Rule 2016(a)(1) requires that all
applications for compensation provide: "A list of all attorneys,
professional, paraprofessional or other timekeepers performing
services on the case along with a description of the experience,
length of professional practice, and billing rate for each."
Quarles & Brady's initial second interim application did not
identify the titles held by its professionals, or provide a
narrative description of each professional's experience and
background.  The Quarles firm remedied this lapse in its amended
second interim fee application and supplied professional background
information for all of its timekeepers.

The Court also pointed to the local rule against billing for more
than one timekeeper's time for any project, meeting, etc., without
further justification.  Local Rule 2016(a)(5) provides: "If the
application seeks compensation for more than one timekeeper
performing the same task, including when more than one professional
attends a hearing or meeting or produces work product, the
application must provide a justification for the use of multiple
timekeepers.  Compliance with this Local Rule was a focus of
Quarles & Brady's amended second interim fee application, (which
resulted in a majority of the $54,206.75-fee-reduction, as well as
some additional, descriptive justification for some time entries).


A copy of the decision and order dated December 30, 2019 is
available at https://www.leagle.com/decision/inbco20191231627 from
Leagle.com free of charge.

Brent Alan Lorentz, Winthrop & Weinstine, P.A., 225 South Sixth
Street, Minneapolis, Mn 55402-4629, Brooks F. Poley, Winthrop &
Weinstine, 225 South Sixth Street, Minneapolis, Mn 55402-4629, Ian
Michael Rubenstrunk, Winthorp & Weinstine, P.A., counsel for C2R
Global Manufacturing, Inc., Debtor.

Evan Schmit, Kerkman & Dunn, 839 N Jefferson St #400A, Milwaukee,
WI 53202, Gregory M. Schrieber, Kerkman & Dunn, 839 N Jefferson St
#400A, Milwaukee, WI 53202, Jerome R. Kerkman, Kerkman & Dunn, 839
N Jefferson St #400A, Milwaukee, WI 53202, counsel for C2R Global
Manufacturing, Inc., Debtor.

Johanna Wilbert, Quarles & Brady LLP, 411 East Wisconsin Avenue,
Suite 2400, Milwaukee, Wisconsin 53202, Michael Piery, Quarles &
Brady LLP, 411 East Wisconsin Avenue, Suite 2400, Milwaukee,
Wisconsin 53202, special counsel for C2R Global Manufacturing,
Inc., Debtor.

Laura D. Steele, Office of the U.S. Trustee, 517 East Wisconsin
Avenue, Suite 430, Milwaukee, WI 53202,  Lauren L. Tobiason ,
Office of the U.S. Trustee, 517 East Wisconsin Avenue, Suite 430,
Milwaukee, WI  53202, Michelle S.Y. Cramer, U.S. Trustee, 517 East
Wisconsin Avenue, Suite 430, Milwaukee, WI 53202, counsel for
Office of the U. S. Trustee.

                   About C2R Global Manufacturing

Headquartered in Burlington, Wisconsin, C2R Global Manufacturing,
Inc. -- http://www.c2r-globalmfg.com/-- specializes in developing,
manufacturing, and marketing products for small to medium-sized
customers.  Its products include tooling and electronics (software
and circuit design), metal castings, sheet metal fabrications, and
molding all forms of plastics and rubbers.

C2R Global Manufacturing, Inc. sought protection under Chapter 11
of the Bankruptcy Code (Bankr. E.D. Wis. Case No. 18-30182) on Oct.
29, 2018.  At the time of the filing, the Debtor estimated assets
of $1 million to $10 million and liabilities of $1 million to $10
million.  The case is assigned to Judge Beth E. Hanan.  The Debtor
tapped Kerkman & Dunn as its legal counsel.



CARMEL MEDICAL: Khan's Capitol to Take Over Building Lease
----------------------------------------------------------
Carmel Medical Office Building, LLC, has proposed a plan of
liquidation.

The Debtor will retain the professional real estate brokerage
services of Jones Lang LaSalle to market the Debtor's medical
office building property for sale immediately.  As part of the
effort to sell, and in order to compensate for the refusal of
tenant to negotiate in good faith, the lease of tenant will be
assigned to Capitol pursuant to the Plan and the assumption and
assignment agreement, and Capitol will enter into the New Master
Lease with the Debtor.  The Tenant will become a sublessee in the
Real Property for the remainder of its lease term.  The Lease is
fully assignable according to its terms.  When Tenant leaves the
Real Property at the end of its lease term (in either March of 2021
or March of 2022) it is required by the terms of the Lease to
turnover its license to operate the surgery center at the Real
Property, and at that time, Capitol will take possession of the
space and license and operate a surgery center for the remainder of
the 10 year lease term.  

Capitol is owned by Zakir Khan, who is also the sole member of the
company that owns the Debtor.  Capitol currently operates a surgery
center on Capitol Street in downtown Indianapolis.  Effective the
end of the Tenant's lease, Capitol would either move all or part of
its operations from Capitol Street downtown Indianapolis to the
Real Property.

JLL has advised the Debtor that with the execution of the New
Master Lease, and assignment of the Lease to Capitol and based upon
the financials of Capitol alone, the Real Property should be listed
and should sell for no less than $8,000,000, which is an amount
sufficient to pay not only all secured claims, but all unsecured
claims, and make a distribution to equity.  JLL has advised that a
sale of the Real Property as structured should lead to the receipt
of an offer.  JLL had advised and the Debtor believes the best way
to market the Real Property is to develop a target list of groups
most capable and likely to purchase the Real Property. Investors
will be provided 2-3 weeks to evaluate the Real Property and
solicit an offer by a set date.  JLL will then present received
offers to the Debtor to select finalists. Those finalists will be
provided additional information and advised to make final offers.
The Debtor will then evaluate final offers, and select a finalist
and move to negotiate a contract.  Overall this process will take
6-7 weeks to select a finalist.  Following that timeframe, it
should take another 45-60 days to close.

The Debtor reserves the right to lower the listing price for the
Real Property and continue to market the Real Property based on
professional advice it receives from its broker if no reasonable
offer is received through the call to offer process; in no case
shall the Debtor shall the Real Property for an amount less the sum
of all claims in Classes 1-8 in the plan.  If after six months from
the date of the order hiring JLL to market the property no offer is
accepted by the Debtor, an auction will be held by the Debtor in
accordance with the terms attached to the Plan.Credit bid rights
may be exercised as part of that auction. To the extent the Real
Property does not in any month generate enough rental income to pay
all current expenses and any plan payments, Zakir Khan will
continue funding such expenses/payments as he has done during the
course of this case through DIP loan orders.

The Debtor will pursue the Causes of Action, such litigation to be
funded by a loan from Zakir Khan.

The Class 3 Secured Claims of CIBM Bank total $4,226,876.68 as of
the Petition Date; the Class 4 Secured Claim of MIG Guilford
Reserves, LLC, totals $400,000; and the Class 5 Secured Claim of
Vasey Commercial Heating & Air Conditioning totals $32,679.78.  The
allowed secured claims of CIBM, MIG and Vasey shall be paid in full
at the time of a closing on such sale.

Class 6 Unsecured Non-Priority Claims total $96,370.91 amongst 29
claimants.  To the extent they are not paid in full from the sale
of the Real Property, Class 6 claims will receive a pro rata
distribution from the proceeds received from the successful
prosecution of the Bankruptcy Causes of Action and Causes of
Action.

Class 7 Unsecured Deficiency Claims will receive a pro rata
distribution (in this class and among Class 6 as well) from the
proceeds received from the successful prosecution of the Causes of
Action.

A full-text copy of the Disclosure Statement dated Jan. 22, 2020,
is available at https://tinyurl.com/ttl7d92 from PacerMonitor.com
at no charge.

Counsel for the Debtor:

     Jeffrey M. Hester
     John J. Allman
     Hester Baker Krebs LLC
     One Indiana Square, Suite 1600
     Indianapolis, Indiana 46204
     Tel: (317) 833-3030
     E-mail: jhester@hbkfirm.com
     E-mail: jallman@hbkfirm.com

              About Carmel Medical Office Building

Carmel Medical Office Building, LLC, is in the business of owning
and operating a medical office real property containing
approximately 23,344 square feet and associated land. The property
is a two-story medical office building located on the north
Meridian Street medical corridor in Indianapolis.  It is run by
Zakir Khan in his capacity as owner.

Carmel Medical Office Building filed a Chapter 11 petition (Bankr.
S.D. Ind. Case No. 19-03536) on May 15, 2019.  In the petition
signed by Zakir H. Khan, president, the Debtor disclosed $6,125,000
in assets and $6,667,625 in liabilities.  The Hon. James M. Carr
oversees the case.  Jeffrey M. Hester, Esq., a partner at Hester
Baker Krebs LLC, is the Debtor's bankruptcy counsel.


CELESTIAL CHURCH: Feb. 26 Hearing on Disclosure Statement
---------------------------------------------------------
Judge Lori S. Simpson has ordered that the hearing to consider the
approval of the Disclosure Statement filed by Celestial Church of
Christ "Luli Parish" will be held in Courtroom 3D of the U.S.
Bankruptcy Court, U.S. Courthouse, 6500 Cherrywood Lane, Greenbelt,
Maryland 20770, on Feb. 26, 2020 at 10:00 a.m.

Feb. 25, 2020, is fixed as the last day for filing and serving
written objections to the Disclosure Statement.

             About Celestial Church of Christ

Celestial Church of Christ "Luli Parish", based in Capital Heights,
MD, filed a Chapter 11 petition (Bankr. D. Md. Case No. 19-13690)
on March 20, 2019. The Hon. Lori S. Simpson oversees the case.  In
the petition signed by Rev. Charles Agbaza, JP, pastor, the Debtor
was estimated to have $1 million to $10 million in assets and
$500,000 to $1 million in liabilities.  Charles M. Maynard, Esq.,
at the Law Offices of Charles M. Maynard, L.L.C., serves as
bankruptcy counsel to the Debtor.


CELESTIAL CHURCH: Plan Payments to be Funded by Future Revenues
---------------------------------------------------------------
Debtor Celestial Church of Christ Washington "Luli Parish" filed
with the U.S. Bankruptcy Court for the District of Maryland a
Chapter 11 Plan of Reorganization and a Disclosure Statement.

Class 6A consists of the unsecured general claim of the A&E Fire
which will be paid monthly upon confirmation of the Debtor's Plan.
This claim consists of a balance owed in the amount of $22,064.
Depending on when the Plan is confirmed, the Debtor will pay a
monthly amount of $500 for the duration of the 60-month Plan.

Class 6B also consists of the general unsecured claim of Carpet
Village, which will be paid monthly upon confirmation of the
Debtor's Plan.  The claim consists of a balance owed in the amount
of $1,999.  Depending on when the Plan is confirmed, Debtor will
pay a monthly amount of $150 for 13 months upon confirmation of the
Plan.  At the end of 13 months, the Debtor will regain an
additional $150 to its disposable income to be used to treat the
ongoing balances.

Class 6C also consists of the general unsecured claim of Quality
Door & Hardware which will be paid monthly upon confirmation of the
Debtor's Plan. This claim consists of a balance owed in the amount
of $2,270.  Depending on when the Plan is confirmed, Debtor will
pay a monthly amount of $150 for 15 months.  At the end of 15
months, the Debtor will regain an additional $150 to its disposable
income to be used to treat the ongoing balances.

Class 6D consists of the general unsecured claim of Harvey W.
Hottel, Inc., which will be paid upon confirmation of the Debtor's
Plan.  This claim consists of a balance owed in the amount $85,400
plus interest of which $15,000 already has been paid based on
consent agreement entered into in 2019.  Depending on when the Plan
is confirmed, Debtor will pay a monthly amount of $1,500 for 46.9
months.

Class 6E consists of the general unsecured claim of Ellsworth
Electric which will be paid monthly upon confirmation of the
Debtor's Plan.  This claim consists of an executory contract with a
balance owed in the amount of $96,381.  This contract was further
reduced to $86,381 to account for a Pepco abatement of $10,000 for
proposed sanctuary lighting deduction.  The Debtor has paid $36,000
with an additional $12,000 to be paid this month pursuant to the
contract agreement, which will make the total $48,000.  The
remaining balance of $38,381.  Depending on when the Plan is
confirmed, the Debtor will pay the remaining balance of $38,381 on
a monthly amount of $1,500 for 25.6 months.

Class 6F also consists of the general unsecured claim of Law Office
of Tilman Dunbar, Jr., which will be paid upon confirmation of the
Debtor's Plan.  This claim consists of a balance owed in the amount
of $1,200.  Depending on when the Plan is confirmed, the Debtor
will pay a monthly amount of $200 for six months upon confirmation
of the Plan and depending on the increased giving by the church
membership, the Debtor anticipates that this arrears will be
retired sooner that six months.  At the end of six months or less,
the Debtor will regain an additional $200 to its disposable income
to be used to treat the ongoing balances.

The Plan shall be funded by the Debtor's cash on hand as of the
Effective Date, by the Debtor's future revenues mainly from
membership tithes, offering and other church activities.  The
church entertains many other activities throughout the year such as
church revivals and church harvests in June (Juvenile Harvest),
which raises about $7,000 and in October (Adult Harvest), which
raises between $12,000 to $15,000 each year.

A full-text copy of the Disclosure Statement dated Jan. 14, 2020,
is available at https://tinyurl.com/yxy6qzm4 from PacerMonitor.com
at no charge.

The Debtor is represented by:

        Charles M. Maynard
        LAW OFFICE OF CHARLES M. MAYNARD, LLC
        200-A Monroe Street, Suite #115
        Rockville, MD 20850
        Tel: (301) 294-6003
        Fax: (301) 294-6004

                About Celestial Church of Christ

Celestial Church of Christ "Luli Parish", based in Capital Heights,
MD, filed a Chapter 11 petition (Bankr. D. Md. Case No. 19-13690)
on March 20, 2019. The Hon. Lori S. Simpson oversees the case.  In
the petition signed by Rev. Charles Agbaza, JP, pastor, the Debtor
was estimated to have $1 million to $10 million in assets and
$500,000 to $1 million in liabilities.  Charles M. Maynard, Esq.,
at the Law Offices of Charles M. Maynard, L.L.C., serves as
bankruptcy counsel to the Debtor.


COCRYSTAL PHARMA: To Raise $2 Million in Common Stock Offering
--------------------------------------------------------------
Cocrystal Pharma, Inc. entered into a placement agency agreement
with A.G.P./Alliance Global Partners, pursuant to which AGP agreed
to serve as the placement agent in connection with the registered
offering of 3,492,063 shares of common stock, par value $0.001 per
share, of the Company at a public offering price of $0.63 per
share.  In connection with the Offering, the Company also entered
into Securities Purchase Agreements with certain investors,
pursuant to which the Company agreed to issue the Shares directly
to investors.  The Company expects to receive approximately $2.0
million in net proceeds from the Offering, after deducting
placement agency commissions and estimated offering expenses.  The
Company intends to use the net proceeds from the Offering for
general corporate purposes and working capital.

The Shares are being offered and sold pursuant to the Company's
effective registration statement on Form S-3 (Registration No.
333-220632), which was declared effective by the Securities and
Exchange Commission on Oct. 10, 2017, and the base prospectus
included therein, as amended and supplemented by the prospectus
supplement expected to be filed with the SEC on Jan. 31, 2020.

The Company expects the Offering to close on or about Jan. 31,
2020, subject to the satisfaction of customary closing conditions.
The Securities Purchase Agreements contain customary
representations, warranties and covenants of the Company,
indemnification obligations of the Company, termination provisions
and conditions to closing.  The Placement Agency Agreement contains
customary representations, warranties and agreements by the Company
and customary conditions to closing. Pursuant to the Placement
Agency Agreement, the Company agreed, subject to limited
exceptions, to indemnify AGP and its affiliates against losses
arising from AGP's activities thereunder.  The Company also agreed
to pay AGP a cash fee equal to 7% of the gross proceeds from the
sale of the Shares in the Offering.

In connection with the Offering, the Company's executive officers,
directors and certain principal stockholders have also agreed,
subject to limited exceptions, not to sell or transfer for 30 days
following the closing any securities of the Company held by them.

                      About Cocrystal Pharma

Headquartered in Creek Parkway Bothell, WA, Cocrystal Pharma, Inc.
-- http://www.cocrystalpharma.com/-- is a biotechnology company
seeking to discover and develop novel antiviral therapeutics as
treatments for serious and/or chronic viral diseases.  The Company
employs unique structure-based technologies and Nobel Prize winning
expertise to create first- and best-in-class antiviral drugs.
These technologies are designed to efficiently deliver small
molecule therapeutics that are safe, effective and convenient to
administer.  The Company has identified promising preclinical and
early clinical stage antiviral compounds for unmet medical needs
including influenza, Hepatitis C virus, and norovirus infections.

Cocrystal Pharma reported a net loss of $49.05 million in 2018
following a net loss of $613,000 in 2017.  As of Sept. 30, 2019,
the Company had $73.44 million in total assets, $2.69 million in
total liabilities, and $70.74 million in total stockholders'
equity.

BDO USA, LLP, in Miami, Florida, the Company's auditor since 2013,
issued a "going concern" qualification in its report dated April 1,
2019, citing that the Company has suffered recurring losses from
operations, negative cash flows from operations and has an
accumulated deficit that raise substantial doubt about its ability
to continue as a going concern.


COMSALE GROUP: Foreign Rep Sets Procedures for All USA Assets
-------------------------------------------------------------
Grant Thornton Ltd., the Court-appointed receiver and manager, and
authorized foreign representative of Comsale Group, Inc. ("CGI"),
Comsale Computer, Inc. ("CCI") and Comsale, Inc. ("CI"), asks the
U.S. Bankruptcy Court for the Southern District of New York to
authorize the sale of substantially all of the Debtors' assets that
are within the territorial jurisdiction of the United States.

The Foreign Representative has developed the proposed Sale
Procedures to govern the sale of substantially all of the Debtors'
assets, including inventory, machinery, equipment, furniture,
fixtures, motor vehicles and leasehold improvements ("Available
Assets"), located in the United States, Canada and Malaysia.  The
majority of the Available Assets constitute inventory owned by CCI
that, as of Aug. 31, 2019, had a book value of CAD $23,727,145, of
which approximately $7,184,605 was attributable to CCI's inventory
located in the United States.   The remaining Available Assets
constitute fixed assets that, as of Aug. 31, 2019, had a book value
of less than CAD $1 million.

Pursuant to an Order dated Dec. 20, 2019, the Canadian Court
approved the Sale Procedures and authorized the Foreign
Representative to commence the Sale process pursuant to the
Canadian Sale Procedures Order.  The Foreign Representative now
asks the Court's (i) approval of the Sale Procedures to the extent
the Available Assets being sold are located in the United States
and (ii) recognition and enforcement of the Canadian Sale
Procedures Order.  HSBC Bank Canada, the Debtors' largest secured
creditor in the Canadian Proceeding, supports approval of the Sale
Procedures.

Consistent with the Sale Procedures governing the Sale of the
Debtors' assets located outside the United States, the Foreign
Representative proposes the following Sale Procedures to govern the
sale of substantially all of the Debtors' assets located in the
United States:

     a. Solicitation Materials - The Foreign Representative will
prepare (i) a form of solicitation letter summarizing the Sale
Procedures and soliciting parties to express interest in the
Available Assets; (ii) a form of non-disclosure agreement ("NDA")
to be executed to access the Data Room and (iii) a form of offer
and asset purchase agreement.  The Foreign Representative will
serve a copy of the Solicitation Letter on (a) the United States
Trustee; (b) any party known to have asserted a lien on the
Available Assets, including HSBC; (c) any Potential Purchasers and
(d) any party that has filed a notice of appearance in these
chapter 15 cases.

     b. Data Room - The Foreign Representative will establish a
Data Room that will contain the following information (to the
extent available from the Debtors' books and records): detailed
asset listings, virtual tour videos of the warehouses and Available
Assets as filmed by capable third parties, photographs of the
Available Assets, detailed expenses related to the rent and
utilities for each
warehouse, lease agreements (if any), form of APA, and any other
information relevant to the sale of the Available Assets.  Access
to the Data Room will be available to Potential Purchasers upon
execution of an NDA acceptable to the Foreign Representative.

     c. Identification of Potential Purchasers - The Foreign
Representative will identify and prepare a list of Potential
Purchasers for the Available Assets.

     d. Marketing of the Available Assets - In addition to sending
the Solicitation Materials to Potential Purchasers, the Foreign
Representative will advertise the sale of the Available Assets in
newspapers or periodicals of general circulation in Ontario,
Canada; Reno, Nevada; Memphis, Tennessee; New York, New York; and
Kuala Lumpur, Malaysia, as applicable in its discretion.  The
Foreign Representative will also permit Potential Purchasers to
inspect the Available Assets at times and places to be determined
by the Foreign Representative and respond to additional reasonable
diligence requests.

     e. Bid Deadline - All bids for the Available Assets must be
received by the Foreign Representative by the deadline set forth in
the Solicitation Materials, unless extended by the Foreign
Representative.

     f. Superior Bid - The Foreign Representative will review all
offers submitted and discuss those bids with the applicable
Potential Purchaser and consult with HSBC and other creditors known
to have asserted a lien on the Available Assets, if applicable.  
If there is more than one acceptable offer, the Foreign
Representative will determine the offer that, in the Foreign
Representative's view.  The Foreign Representative will (i) inform
the offeror of the Superior Offer that its offer has been selected
as the Superior Offer; (ii) negotiate and execute an APA with the
offeror of the Superior Offer and (iii) subject to Court approval,
close the transaction.

     g. Sale Notice - Once the Foreign Representative has
successfully entered into one or more sale agreements with one or
more purchasers, no less than seven days before the Objection
Deadline for the applicable Sale of Available Assets, the Foreign
Representative will serve a copy of the applicable Sale Notice.

     h. Proposed Sale Order - The Foreign Representative will
attach to the applicable Sale Notice a proposed form of sale order
for the Sale of the applicable Available Assets.

     i. Foreign Representative Declaration - The Foreign
Representative will attach to the applicable Sale Notice a
declaration in support of the Sale.

     j. Objection Deadline - Objections, if any, to a Sale must be
filed with the Court and served on: (i) the Foreign Representative
and its counsel; (ii) the United States Trustee; (iii) any party
known to have asserted a lien on the Available Assets, including
HSBC and (iv) any party that has filed a notice of appearance in
these chapter 15 cases so as to be actually received on or before
the date that is seven calendar days following the date that the
applicable Sale Notice is served on the Sale Notice Parties.  If no
written objection is filed with the Court and served in accordance
with this paragraph on or before the Objection Deadline, the Sale
Order may be entered by the Court without further notice or a
hearing.

     k. Sale Hearing - In the event an objection to a Sale is filed
and served in accordance with paragraph (j) by the Objection
Deadline, a hearing to consider the applicable Sale will be held at
a date and time established by the Court.

     l. As is, Where Is - The Sale of the Available Assets pursuant
to these Sale Procedures will be on an "as is, where is" basis and
without representations or warranties of any kind or nature by the
Foreign Representative, its agents and advisors, unless otherwise
provided in any APA.

Pursuant to the Sale Guidelines, the Foreign Representative is
required to highlight any "extraordinary provisions."  The only
extraordinary provision applicable in the case is as follows: the
proceeds from the Sale will be used to pay the fees and costs of
the Foreign Representative and its counsel, costs of the
receivership proceedings and the Sale and to make distributions to
creditors in accordance with Canadian law.

The Foreign Representative submits that the Sale Procedures satisfy
the requirements of the Bankruptcy Rules and the Local Rules and
respectfully asks that the Court approves the Sale Procedures.

The Foreign Representative has determined in the exercise of its
business judgment that selling the Available Assets pursuant to the
Sale Procedures is in the best interests of the Debtors and their
creditors.

The Foreign Representative submits that sufficient cause exists to
approve the Sale of the Available Assets free and clear of all
liens, claims and encumbrances.

The Foreign Representative respectfully submits that the Court
should recognize and enforce the Canadian Sale Procedures Order and
authorize the Sale pursuant to section 363 of the Bankruptcy Code.


Finally, the Foreign Representative respectfully asks that the
Court waives the 14-day stay period under Bankruptcy Rule 6004(h).


A copy of the Sales Procedures is available at
https://tinyurl.com/tf3hcfj from PacerMonitor.com free of charge.

A hearing on the Motion is set for Jan. 28, 2020 at 10:00 a.m.

                       About Comsale Group

Comsale -- http://www.comsale.com/-- offers refurbished desktop
and laptop computers, as well as electronic accessories.  Since
2000, the Company has been providing IT solutions to clients around
the globe for the retail, distribution, government, health,
education, and consumer sectors.

Comsale Group, Inc.'s foreign proceeding is Case No.
CV-19-630501-00CL in the Superior Court of Justice (Commercial
List) (Ontario).

The Debtor sought Chapter 15 protection (Bankr. S.D. N.Y. Case No.
19-13625) on Nov. 13, 2019.  Two affiliates that concurrently filed
voluntary petitions seeking relief under Chapter 15 of the
Bankruptcy Code: (i) Comsale Computer, Inc. (Bankr. S.D. N.Y. Case
No. 19-13627), and (ii) Comsale, Inc. ((Bankr. S.D. N.Y. Case No.
19-13628).  The cases are assigned to Judge James L. Garrity Jr.

Comsale tapped Grant Thorntorn Limited, 200 King St. W., 11th
Floor, Toronto, Ontario M5H 3T4, Canada as Foreign Representative.
The Foreign Representative tapped Robert H. Trust, Esq., Penelope
J. Jensen, Esq., Christopher J. Hunker, Esq., at Linklaters LLP,
and D.J. Miller, Esq., and Rachel Bengino, Esq., at Thornton Grout
Finnigan LLP as counsel.



CONSORTIUM B: Case Summary & 4 Unsecured Creditors
--------------------------------------------------
Debtor: Consortium B, Inc.
        1075 Griffin Street West
        Dallas, TX 75215

Business Description: Consortium B, Inc. is a privately held
                      company in Dallas, Texas.

Chapter 11 Petition Date: February 3, 2020

Court: United States Bankruptcy Court
       Northern District of Texas

Case No.: 20-30413

Debtor's Counsel: Eric A. Liepins, Esq.
                  ERIC A. LIEPINS
                  12770 Coit Road
                  Suite 100
                  Dallas, TX 75251
                  Tel: 972-991-5591
                  Email: eric@ealpc.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Brian William, president.

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

                     https://is.gd/VbmjX9


CORETECH INDUSTRIES: Southwest Dynamics Wins Secured Claim Status
-----------------------------------------------------------------
Judge Stacey G. Jernigan of the U.S. Bankruptcy Court for the
Northern District of  Texas, Dallas Division, in a memorandum
opinion and order dated Dec. 31, 2019, granted summary judgment as
to Southwest Dynamics, Inc.'s secured status, and denied partial
summary judgment to Reorganized Debtor CoreTech Industries, LLC.

In the context of post Chapter 11 plan confirmation, Southwest
Dynamics, Inc., filed a motion for summary judgment (MSJ) seeking
to establish the validity of an alleged statutory mechanic's lien
for services it rendered to install and repair several pieces of
industrial equipment in a facility formerly leased by the Debtor,
later Reorganized Debtor CoreTech Industries, LLC.  The Reorganized
Debtor filed a cross-motion for partial summary judgment on the
issue of whether SDI is a secured creditor.  SDI then filed a
response to Debtor's MSJ, asserting an artisan's lien under the
Texas Constitution in addition to the statutory mechanic's lien it
had originally asserted in SDI's MSJ.

The Debtor, formed in 2014 to provide industrial machining
services, filed Chapter 11 bankruptcy on December 18, 2018, to
accomplish an orderly sale of all of its assets and use the
proceeds to pay creditors.

SDI filed Proof of Claim No. 6-1 in the Debtor's bankruptcy case on
February 8, 2019, asserting secured creditor status for alleged
installation and repair services provided by SDI's principal and
owner, Mr. Richard Bomer.  The Debtor objected to the Proof of
Claim 6 arguing that SDI's proof of claim should be denied because
(a) SDI attached no supporting documentation and (b) SDI owed the
Debtor $150,000 for damaging the machine it allegedly repaired,
which would more than offset the entire $85,308 amount claimed in
SDI's Proof of Claim No. 6-1.

SDI amended its proof of claim on April 24, 2019, adding
documentation to support its claim.  Shortly thereafter, the
parties appeared at a non-evidentiary hearing to announce a
settlement and, on May 2, 2019, the Debtor sought approval of a
proposed settlement agreement, in which the parties proposed to
allow SDI's secured claim in the amount of $32,500.  KeyStaff,
Inc., a general unsecured creditor, objected to the proposed
settlement agreement.  The bankruptcy court ultimately adjourned
the hearing on the settlement motion.  

The Debtor and SDI later decided that they both believed that --
rather than setting the claim objection for hearing -- the court
should determine in a summary judgment context whether SDI's claim
(whatever the amount) was secured or not. The Debtor and SDI
thereafter filed their motions for summary judgment and responses
and argued before the bankruptcy court on November 25, 2019. At the
conclusion of the hearing, the court took the matter under
advisement.

The bankruptcy court has determined that SDI's summary judgment
evidence establishes a properly perfected statutory mechanic's lien
and, alternatively, a constitutional lien.  SDI has presented
sufficient summary judgment evidence to demonstrate that there is
no genuine dispute of material fact as to whether it is entitled to
both a statutory mechanic's lien and a constitutional lien.
Meanwhile, the Debtor has failed to present any evidence to create
a material fact issue regarding SDI's purported mechanic's lien.
Instead, the Debtor's argument stands almost entirely on the notion
that any lien SDI asserts could have attached only to the real
property (i.e. the Debtor's leased premises) and, thus, was
terminated when SDI filed its Partial Release of Lien, which
released Turner's Machinery, Inc. (i.e. the real property owner)
from SDI's purported liens.

Bankruptcy case law interpreting the relevant sections of the Texas
Property Code clearly demonstrates, however, that mechanic's liens
can attach to a debtor's trade fixtures even though the trade
fixtures are affixed to leased premises, the Court says. Given that
the machines in this case fit squarely within the definition of
"trade fixtures," and that SDI perfected its lien according to
statute in a timely fashion, SDI has demonstrated that there is no
genuine dispute of the material fact it is entitled to a statutory
mechanic's lien.  Alternatively, SDI has also shown it is entitled
to a constitutional lien, pursuant to Article XVI of the Texas
Constitution.

Because the Reorganized Debtor has an alleged $150,000 counterclaim
that remains unadjudicated, the size of SDI's overall claim and,
thus, the enforceability of SDI's lien, cannot yet be determined,
the Court says.

Circumstances that bar collection of the underlying debt may
prevent enforcement of a lien.  At the current juncture, the
parties are disputing whether or not SDI is secured without having
first addressed the (arguably preliminary) issue of whether SDI is
even a creditor.  In other words, the Debtor has alleged that it
has a $150,000 counterclaim that eliminates SDI's entire secured
claim.  Thus, the Debtor should file an original complaint to open
an adversary proceeding so that the parties may present additional
evidence and fully adjudicate the issue of the Debtor's alleged
counterclaim and whether SDI has an allowable claim as to which its
mechanic's lien is enforceable.

Accordingly, SDI is granted summary judgment as to its secured
status and partial summary judgment to the Debtor is denied.

A copy of the memorandum opinion and order dated Dec. 31, 2019 is
available at https://www.leagle.com/decision/inbco20200102373 from
Leagle.com free of charge.

Eric A. Liepins , Eric A. Liepins, P.C., 12770 Coit RoadSuite
950Dallas, TX 75251- 1366, counsel for CoreTech Industries, LLC,
Debtor.

                    About CoreTech Industries

CoreTech Industries, LLC, is a machine shop located at 8300 S.
Central Expressway in Dallas, Texas. Its principal owner is Richard
Arn.

CoreTech Industries, LLC, sought Chapter 11 protection (Bankr. N.D.
Tex. Case No. 18-34196) on Dec. 18, 2018. In the petition signed by
Richard Arn, Managing Member, the Debtor estimated assets and
liabilities in the range of $500,001 to $1 million.  The Debtors
tapped Eric A. Liepins, Esq., at Eric A. Liepins, P.C., as its
counsel.




DARREN B. MCCORMICK: Foreign Reps' $300K Sale of Roane Property OKd
-------------------------------------------------------------------
Judge Catherine Peek McEwen of the U.S. Bankruptcy Court for the
Middle District of Florida authorized Colin Diss and Nicholas Wood,
the Joint Trustees of the bankruptcy estate of Darren Bernard
McCormick, to sell the real property located in Roane County,
Tennessee, as further described in the Roane County Register of
Deeds Book 1301, Page 515, to Mary and Robert Edwards for
$300,000.

A hearing on the Motion was held on Jan. 21, 2020.

The sale is free and clear of liens, claims and encumbrances with
such claims to attach to the proceeds of such sale.

The Foreign Representatives are authorized to enter into the
proposed Purchase and Sale Agreement with the Buyers and execute
any and all deeds and other documents necessary to effectuate the
closing of such sale and the transfer of the Tennessee Property to
the Buyers as contemplated therein.

In the event the closing of the Purchase and Sale Agreement cannot
be effected by Jan. 27, 2020, the Foreign Representatives are
authorized to execute and enter into a short-term lease agreement
permitting the Buyers to occupy the Property for equivalent rental
rate of $1,200 per month pro-rata until closing can be effected.  

Upon closing of the Purchase and Sale Agreement, the Buyers will be
entitled to the protections under 11 U.S.C. Section 363(m), and
receive the Tennessee Property free and clear of all liens, claims,
encumbrances and interests.

The stay imposed under Bankruptcy Rule 6004(h) is waived so that
the Order is effective immediately, and the Foreign Representatives
can meet the scheduled closing date.

Darren Bernard McCormick sought Chapter 11 protection (Bankr. M.D.
Fla. Case No. 19-10768) on Nov. 12, 2019.  The Debtor tapped Eyza
F. Blanco, Esq., at Sequor Law, P.A., as counsel.



DATABASEUSA.COM LLC: Plan Mulls $1M Contribution or Sale
--------------------------------------------------------
DatabaseUSA.com LLC is proposing a First Amended Plan of
Reorganization, which is considering a "contribution option" or a
"sale option".

Under the Contribution Option, the Debtor will be reorganized
pursuant to the terms of the Plan and Cash in the amount of
$1,000,000 will be tendered to Reorganized Debtor on the Effective
Date in exchange for 100% of the membership interest in Reorganized
Debtor.  Under the Sale Option, all of Debtor's Assets shall be
sold free and clear of all Liens, Claims, and encumbrances through
the sale auction that will occur no later than one week prior to
the Confirmation Hearing.

The Plan treats claims as follows:

   * Class 1 Secured Claim. IMPAIRED. Amount of claim $34,439,363.
On or before the Election Date, the secured lender will provide a
written notice to Debtor electing either the Sale Option or the
Contribution Option.

   * Class 3 Infogroup Claim in the amount of $11,644,748; Class 4
Deficiency Claim; and Class 5 General Unsecured Claims of $50,000.
IMPAIRED.

     -- In the event of the Contribution Option, each Holders of
the Allowed Deficiency Claim, Allowed Infogroup and Allowed General
Unsecured Claim shall receive Distributions as follows:

        1. On the later of: (i) the Effective Date; (ii) such date
as may be fixed by the Bankruptcy Court; (iii) the tenth day after
the Allowed Deficiency Claim, Allowed Infogroup and Allowed General
Unsecured Claim are Allowed by entry of a Final Order; and (iv)
such other date as the Holders of such Claim and Debtor or
Reorganized Debtor, as applicable, shall agree, each Holders of the
Allowed Deficiency Claim, Allowed Infogroup and Allowed General
Unsecured Claim Claim shall receive a Distribution equal to ten
percent of its Allowed Claim;

        2. On the later of: (i) the first anniversary of the
Effective Date; (ii) one year after the Allowed Deficiency Claim,
Allowed Infogroup and Allowed General Unsecured Claim are Allowed
by entry of a Final Order; and (iii) such other date as the Holders
of such Claim and Debtor or Reorganized Debtor, as applicable,
shall agree, each Holders of the Allowed Deficiency Claim, Allowed
Infogroup and Allowed General Unsecured Claim  shall receive a
second Distribution equal to ten percent of its Allowed Claim; and


        3. On the later of: (i) the second anniversary of the
Effective Date; (ii) two years after  the Allowed Deficiency Claim,
Allowed Infogroup and Allowed General Unsecured Claim are Allowed
by entry of a Final Order; and (iii) such other date as the Holders
of such Claim and Debtor or Reorganized Debtor, as applicable,
shall agree, each Holders of the Allowed Deficiency Claim, Allowed
Infogroup and Allowed General Unsecured Claim shall receive a third
Distribution equal to ten percent of its Allowed Claim.

     -- In the event of the Sale Option, each Holder of the Allowed
Deficiency Claim, Allowed Infogroup and Allowed General Unsecured
Claim shall receive, upon resolution of all Disputed Claims by
entry of a Final Order, its Multi-Class Pro Rata portion of the
Sale Proceeds remaining after payment of all Allowed Administrative
Claims, Allowed Priority Tax Claims, the Allowed Secured Claim, and
Allowed Other Priority Claims.

A full-text copy of the Amended Disclosure Statement dated Jan. 22,
2020, is available at https://tinyurl.com/qwdk5kq from
PacerMonitor.com at no charge.

Attorneys for DatabaseUSA.com LLC:

     Talitha Gray Kozlowski
     Teresa M. Pilatowicz
     GARMAN TURNER GORDON LLP
     7251 Amigo Street, Suite 210
     Las Vegas, Nevada 89119
     Telephone (725) 777-3000
     Facsimile (725) 777-3112
     E-mail: tgray@gtg.legal
     E-mail: tpilatowicz@gtg.legal

             - and -

     Heather (Voegele) Anson
     DVORAK LAW GROUP, LLC
     9500 W. Dodge Rd., Suite 100
     Omaha, Nebraska 68114
     Telephone 402-933-9597
     E-Mail: hvoegele@ddlawgroup.com

                  About DatabaseUSA.com LLC

DatabaseUSA.com LLC -- https://databaseusa.com/ -- provides
full-service database and email marketing solutions.  It offers
customers a database of 15 million businesses.

DatabaseUSA.com sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Nev. Case No. 19-10001) on Jan. 1, 2019.
At the time of the filing, the Debtor was estimated to have assets
of $10 million to $50 million and liabilities of $10 million to $50
million as of the bankruptcy filing. The case is assigned to Judge
Bruce T. Beesley.  The Debtor tapped Dvorak Law Group, LLC, as its
bankruptcy counsel.


DENNIS L. PERRY: Plan Has Partial Payment for Unsecured Creditors
-----------------------------------------------------------------
Dennis L. Perry–GBC, Inc., is proposing a plan of
reorganization.

According to the Disclosure Statement, as a result of Debtor's
reorganization efforts, the Debtor has been able to restore the
Company to profitability as evidenced by monthly operating reports.


The Debtor believes it will continue to operate profitably, so as
to pay all secured debt and priority tax debt, as well as provide
for a partial payment to unsecured creditors.

During the Chapter 11 proceedings, the Debtor has been able to pay
all its expenses on a timely basis, has been able to pay all taxing
authorities when due, and has produced a positive cash flow.

The Plan treats claims as follows:

   * Class 1 Administrative Claims: The holders of the Class 1
Claims will be paid in cash in full on the Effective Date, or shall
receive other such treatment as may be agreed upon in writing and
disclosed to the Court prior to confirmation.

   * Class 3(A) Secured Claim of Franklin Bank and Trust: This
claim will be paid interest only in the amount of prime plus 1%
until Nov. 7, 2020.  On Nov. 7, the outstanding balance of the loan
in the approximate amount of $250,010.82 will be reamortized at
prime plus 1% variable daily with a floor interest rate of 5.5%.
The current rate is 5.75 and the estimated monthly payments would
be $2,076.12 over 15 years.

   * Class 3(B) Secured Claim of Franklin Bank.  The current payoff
of this claim is approximately $28,077.48.  This claim is being
paid with regular monthly payments of $2,595.98.  The Debtor will
continue with the regular payment and this claim will be paid in
full by November, 2020.

   * Class 3 (C) Secured Claim of PNC Bank.  Claim No. 7 in the
total amount of $49,483.  The Debtor believes this claim to be
fully secured.  The claim will be paid over five years with
interest at the rate of 7%.  Monthly payments on the claim will be
approximately $980.00.

   * Class 3(D) Secured Claim of Huntington National Bank.  Claim
No. 8 of  $23,378.59.  This claim is secured by a title lien
statement.  This claim will be paid over five years at the rate of
5%.  Monthly payments will be approximately $441.00.

   * Class 4 Unsecured Claims.  Allowed unsecured creditors will be
paid monthly for 60 months.  The Debtor will make available the sum
of $5,000 per month for allowed unsecured creditors.  The Debtor
will make a monthly distribution to allowed unsecured creditors on
a pro rata basis.  In addition to the monthly distribution, the
Debtor will make an additional yearly distribution beginning in
January 2021 continuing for four years (2022, 2023 and 2024) of 25%
of the net profit of the Debtor, paid in a pro rata basis.

   * Class 5  Equity Interest of Dennis L. Perry.  Dennis L. Perry
will retain his equity interest in the reorganized debtor.

Upon the Effective Date, all of the assets of the Estate will be
revested in the Reorganized Debtor, and the Reorganized Debtor
shall have the right to manage its own assets and conduct its own
business in the ordinary course, subject to the Debtor's
obligations and duties as set forth in the Plan.

A full-text copy of the Disclosure Statement dated Jan. 22, 2020,
is available at https://tinyurl.com/vpxrpgz from PacerMonitor.com
at no charge.

Counsel for the Debtor:

     Mark H. Flener
     Law Office of Mark H. Flener
     1143 Fairway Street, Suite 1
     Post Office Box 0008
     Bowling Green, Kentucky 42102-0008
     Telephone: (270) 783-8400
     Facsimile: (270) 783-8872
     E-mail: mark@flenerlaw.com

                About Dennis L. Perry - GBC Inc.

Dennis L. Perry - GBC, Inc. was opened in 1997 and got its start by
supplying customers with items to improve performance for diesel
trucks. This ranged from chips and programmers, exhaust kits,
gauges, and intakes. The Corporation began offering its own tuning
for the 7.3L Powerstroke and released his own chip to work with the
Ford computer That chip has now grown to be known as the TS
Performance 6 Position Chip and is the most popular and widely used
chip for the 7.3L Powerstroke engine. Debtor is represented by Law
Office of Mark H. Flener.  

Dennis L. Perry - GBC, Inc., d/b/a TS Performance, sought Chapter
11 protection (Bankr. W.D. Ky. Case No. 19-10581) on June 13, 2019.
The Debtor was estimated to have assets of $100,000 to $500,000
and liabilities of $1 million to $10 million.  The Hon. Joan A.
Lloyd is the case judge.  MARK H. FLENER is the Debtor's counsel.


DHM HOSPITALITY: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: DHM Hospitality, LLC
        2001 Broadstone
        Plano, TX 75025

Business Description: DHM Hospitality, LLC is a privately held
                      company whose principal assets are located
                      at 910 Corn Products Road Corpus Christi, TX
                      78409.  The Company is in the hotels and
                      motels business.

Chapter 11 Petition Date: February 3, 2020

Court: United States Bankruptcy Court
       Eastern District of Texas

Case No.: 20-40312

Debtor's Counsel: Eric A. Liepins, Esq.
                  ERIC A. LIEPINS
                  12770 Coit Road
                  Suite 100
                  Dallas, TX 75251
                  Tel: 972-991-5591
                  Email: eric@ealpc.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Hasmukh Patel, managing member.

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/qVAqGR


DWS CLOTHING: Seeks to Defer Hearing to Amend Plan & Disclosures
----------------------------------------------------------------
Debtor DWS Clothing Too, LLC, filed a second agreed motion to
continue the confirmation hearing of its Chapter 11 plan and other
deadlines

A hearing to consider approval of Debtor's Disclosure Statement is
scheduled for January 16, 2020, pursuant to this Court's order
dated October 31, 2019.

The Debtor has filed numerous claim objections and is in the
process of resolving those objections.   

In addition, Debtor's principal has resolved the claim dispute with
her former landlord in New York and that claim has also been
resolved in Debtor's daughter's Chapter 13 proceeding. The Motion
to approve the settlement in Debtor's principal's case is scheduled
to be heard on January 30, 2020.

The Debtor and the Debtor's principal are in the process of
amending the Plans and Disclosures to reflect the settlement with
the landlord, as well as making other amendments.

The Debtor requests a continuance to the end of February 2020 to
allow for the settlement with the landlord to be approved and that
order to become final.

A full-text copy of the motion dated Jan. 14, 2020, is available at
https://tinyurl.com/ub78rm5 from PacerMonitor.com at no charge.

The Debtor is represented by:

        RAPPAPORT OSBORNE & RAPPAPORT, PLLC
        JORDAN L. RAPPAPORT, ESQ.
        Squires Building, Suite 203
        1300 North Federal Highway
        Boca Raton, Florida 33432
        Telephone: (561)368-2200

                      About DWS Clothing Too

Operating as Alene Too, DWS Clothing Too, LLC, sells women's
clothes. DWS Clothing Too sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Fla. Case No. 18-25551) on Dec. 14,
2018. In the petition signed by Maxine Schwartz, member, the Debtor
was estimated to have assets of less than $50,000 and liabilities
of $1 million to $10 million. The case is assigned to Judge Mindy
A. Mora. Rappaport Osborne & Rappaport, PLLC, is the Debtor's
counsel.


DYNASTY ACQUISITION: Fitch Affirms B LongTerm IDR, Outlook Stable
-----------------------------------------------------------------
Fitch Ratings has affirmed Dynasty Acquisition Co., Inc.'s (owner
of StandardAero [SA]) Long-Term Issuer Default Rating (IDR) at 'B'.
In addition, Fitch has downgraded the company's long-term senior
first lien revolver and senior first lien term loan ratings to
''BB-'/'RR2' from 'BB'/'RR1', and has affirmed the senior first
lien ABL facility at 'BB'/'RR1'. The Rating Outlook is Stable.

The downgrade of the senior first lien secured term loan and
revolver were largely driven by the company's recent upsizing of
its ABL facility and proposed upsize of the first lien term loan;
each reduce the recovery prospects of the first lien facility in
Fitch's analysis. Although the recovery prospects are marginally
lower than Fitch's previous analysis, the agency has assigned an
'RR2' recovery rating to the debt level, and views the recovery of
the first lien facility as relatively strong.

The IDR and Rating Outlook are largely unaffected by the debt
repricing and term loan upsizing, although liquidity and financial
flexibility will improve from freed up capacity under the ABL
facility and reduction of cash interest expense. The ratings and
Outlook are further supported by the company's moderate insulation
from economic cyclicality, strong market position, authorizations
on widely used engine types, valuable portfolio of certifications,
relatively predictable revenue stream, high barriers to entry
protecting against new entrants, vertical integration within the
maintenance process, and contract and geographic diversification.
The company's variable cost structure and adequate liquidity also
factored into the rating.

Concerns for the rating and Outlook include the company's
significant and constant execution risk, and material degree of
customer and supplier concentration. Other concerns include size
compared to some competitors including original equipment
manufacturers (OEMs) and in-house airline MRO operations, its
dependence on the OEMs and engine authorizations, and private
equity ownership, which could influence the company's future
capital deployment strategy or financial structure. The company's
management team has indicated a focus on deleveraging, but growth
via acquisitions is also a potential concern

KEY RATING DRIVERS

Strong Market Position, Supported by Certifications: Fitch believes
StandardAero's market position is strong and defensible. It is one
of the largest independent commercial aviation maintenance, repair
and operation (MRO) companies in the world, and has longstanding
relationships with the largest aerospace engine OEMs. The company's
main focus is engine repair and overhaul for commercial, military
and business jet aircraft. Performing such work requires OEM
authorizations and regulatory certifications -- one for each engine
program -- that are expensive and take a significant amount of time
for new market entrants to acquire. Fitch believes the company's
wide range of program certifications, coupled with its strong OEM
relationships, is a major differentiator compared with peers and
creates a defensible barrier against competition.

Predictable Revenue: SA's rating is supported by its relatively
predictable revenue and generally positive cash flow generation
driven by regulator-required periodic maintenance. Most of SA's
contracts span more than 10 years and often last through the life
of an engine. When the contacts come up for re-negotiation, SA has
been able to retain all of its contracts due to the company's
consistent execution and longstanding customer relationships.
Approximately 50% of total revenue is provided under long-term
agreements, with the other 50% being short cycle sales, mostly with
long-term customers.

Organic Growth Expected: Fitch expects SA's revenue will continue
to grow over the next three to four years as the company integrates
its recent acquisitions, and believes SA is well positioned to take
advantage of legacy certifications. The agency believes future
revenue and cash flow will be supported by engine programs such as
the PW127, CF34 and CFM56, for which MRO volumes are expected to
grow significantly over the next several years. In particular, the
CFM56 is an important program, as it is the largest engine program
in the industry, and demand for additional MRO capacity will be
high over the foreseeable future.

Long-Term Positive Cash Flow, Near-Term Challenges: Fitch projects
SA's FCF margin will exceed 1% annually beginning in 2020, after
negative flows in 2018 and 2019. Fitch expects financial results
will normalize and working capital cash outflows related to supply
chain delays will reverse. Growth capex should also steadily
decline after periods of elevated spending in 2017 and 2018 to
support capacity expansion initiatives.

Supplemental Acquisitions: Fitch expects SA will continue to
supplement organic growth with incremental bolt-on acquisitions, in
line with its strategy over the past few years. Fitch believes the
company will be able to partially fund future purchases with
internally generated cash. However, the company has recently drawn
on its ABL facility to fund transactions, and the facility could
remain a funding source going forward depending on the magnitude of
the transactions. Fitch believes the company could pursue tactical
transactions in order to acquire additional certifications or
improve diversification.

Contract and Geographic Diversification: Fitch believes
diversification across programs, geography and end-markets further
reduces the risks arising from a potential regional economic shock
or loss of any individual contract. The company estimates it has a
top three market share on more than a dozen of the world's largest
engine programs, including the CF34, PW 100/150 and CFM56, which
should continue to grow over the next several years. SA has more
than 40 locations in 10 countries, with around 35%-40% of sales
occurring outside of the U.S. It also services several end-markets
including military, energy, helicopters, airlines & fleets, and
business aviation. The company's recent acquisitions resulted in
additional diversification by geography, particularly into Asia,
Africa, the UK, and Europe through the Vector acquisition, and by
contract with new components business and Pratt & Whitney and
SAFRAN certifications.

Sustainable Leverage with Deleveraging Capacity: Fitch calculates
SA's pro forma 2020 adjusted leverage (adjusted debt/EBITDAR) at
5.4x, which the agency considers to be in line with other similarly
rated companies. Fitch believes it is a sustainable leverage level,
with some deleveraging capacity. While the agency assigns a
relative high importance to the company's financial structure,
Fitch also believes this concern is offset by the company's
strategic profile, moderate cyclicality and capacity to reduce debt
over the next few years given its predictable revenue and cash
flow. Risks to deleveraging include potential debt funded
acquisitions, terming out additional ABL balances in excess of the
current transaction, failure to execute on outstanding contracts or
extended periods of negative FCF.

Execution Risk Could Harm Reputation: Fitch considers continued
operational execution to be a priority for SA. Fitch expects
instances of poor execution would likely diminish the company's
currently strong reputation and could result in customers switching
to SA's competitors. Mitigating this risk is the fact that SA does
not have a history of material contract cancellations over the past
several years, and has a very experienced management team, which
Fitch believes would be capable of navigating potential
challenges.

Customer Concentration Enhances Execution Risk: Fitch believes the
likelihood of significant customer loss is negligible in the near
term, though the potential future risk is amplified by the
company's degree of customer concentration, despite its diversified
portfolio of contracts and certifications. Fitch estimates around
40% of revenue is derived from the company's top four customers,
with GE representing between 15% and 20% of sales. While much of
the revenue derived from these top customers is subcontracted work
stemming from other end-customers, poor execution on one or more
contracts for one these major customers could lead to reduced work
allocation. The loss of one of these OEMs as customers would likely
result in negative rating momentum.

Moderate Cyclicality: Fitch estimates SA is less exposed to
cyclical declines than similarly rated aerospace peers, as revenue
is more closely tied to available seat miles (ASMs; or, for
kilometers, ASKs) than to passenger traffic or airline
profitability, which tend to be more volatile than miles flown.
Regulatory maintenance requirements result in relative revenue
stability in instances when passenger traffic declines. Between
2003 and 2017, ASMs increased at a rate of approximately 1.3% per
year in the U.S., and only declined during two of the 15 years,
with the most notable occurring in 2009 by 6.3%. Fitch also
believes that the company's variable cost structure would provide
some inherent flexibility during a period of challenging market
conditions.

Necessity of Future Authorizations: While the company has
historically maintained strong relationships with customers and
OEMs, Fitch recognizes the company must continue to win future
authorizations over the long term to maintain operations. Fitch
believes the OEMs benefit from SA absorbing much of the required
demand for MRO services on maturing engines so OEMs can focus their
resources on new development programs. However, the OEMs maintain a
certain degree of buying power over SA, and a change in the
relationship could hinder the company's ability to win future
authorizations as maturing engines exit the fleet.

DERIVATION SUMMARY

StandardAero is well positioned as the largest independent MRO
provider in the world, though competition exists from OEMs and
in-house airline MRO operations, including higher-rated General
Electric Company (BBB+/Negative), Honeywell International, Inc.
(A/Stable), Rolls Royce plc (BBB+/Stable), MTU Aero Engines AG
(BBB/Stable), and Delta Air Lines (BBB-/Stable), among others. The
company's leverage and financial structure are important factors to
the rating, and are generally in line with mid-B category aerospace
companies such as The NORDAM Group (B/Stable). The rating is also
supported by the company's moderate insulation from broader market
cyclicality compared to OEs, and its stable and predictable revenue
stream, which Fitch considers strong for the rating. The company's
leading market position was also an important factor in deriving
the rating, and is reinforced by the company's portfolio of
certifications and diversification. No country ceiling,
parent/subsidiary linkage or operating environment factors were in
effect for these ratings.

KEY ASSUMPTIONS

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

  -- Revenue in 2019 and 2020 increased due to acquisition
     completed in 2019; double digit sales growth in 2019 and
     2020 stemming from contracted backlog, primarily related to
     an increase in demand for CF34 and CFM56 MRO services, ramp
     up of RB211 platform, and AE1107 and AE2100 military
     contracts;

  -- EBITDA margins remain somewhat pressured in 2019, but
     steadily increase to between 13.0% and 13.5% through 2022
     as the company executes on outstanding backlog;

  -- Significant cash outflows from working capital result in
     negative FCF in 2019; working capital flows begin to reverse
     in mid-2020 and into 2021, resulting in FCF margins above 2%;

  -- Approximately 50%-60% of capex is related to maintenance
     capex, which is expected to remain relatively steady
     throughout forecast period; Fitch expects potential new
     contract wins, certifications or acquisitions in 2020 and
     2021 would result in growth capex remaining elevated during
     this period;

  -- Company takes advantage of 100% PIK interest on unsecured
     notes in through mid-2020 and 50% PIK interest through
     mid-2021;

  -- Fitch expects minimal excess FCF is used for debt repayment;

  -- Fitch forecasts the company deploying excess cash towards
     bolt-on, strategic acquisitions and internal investment in
     the company; acquisitions considered were up to $100 million
     in magnitude and predominantly funded through the company's
     ABL facility, which is paid down and re-borrowed for each
     transaction;

  -- No dividends projected in its forecasts;

  -- Approximately 25% cash tax rate.

Recovery Analysis:

The recovery analysis assumes that SA would be considered a going
concern in bankruptcy and that the company would be reorganized
rather than liquidated. A 10% administrative claim is assumed in
the recovery analysis.

In Fitch's recovery analysis, potential default is assumed to come
from a combination of one or more of the following scenarios: a
materially negative hit to the company's reputation affects its
ability to win new business; loss of customer(s) or contract
cancellations cause several periods of significant cash outflows;
or the company incurs significant cash costs resulting from failure
to integrate one or more acquisitions.

Fitch assumes SA will receive a going-concern recovery multiple of
6.5x EBITDA under this scenario. Fitch considers this multiple to
be towards the upper middle range of recovery multiples assigned to
companies in the Aerospace & Defense sector.

Fitch's recovery assumptions are based on SA's industry-leading
reputation, variable cost structure, solid and predictable backlog,
diversified contract and certification portfolio, strong market
position, and high industry barriers to entry. Fitch also
considered the meaningful execution risk and potential for cost
overruns, though unlikely.

Fifty-nine percent of industrial and manufacturing defaulters had
exit multiples in the range of 5.0x to 8.0x according to the
"Industrial, Manufacturing, Aerospace and Defense Bankruptcy
Enterprise Values and Creditor Recoveries" report published by
Fitch in August of 2019. Within the report, Fitch observed that
more than 90% of the bankruptcy cases analyzed were resolved as a
going concern. Most of the defaulters observed in the Fitch report
were smaller in scale, had less diversified product lines or
customer bases and were operating with leveraged capital
structures.

Fitch assumes $420 million as the going concern EBITDA in the
analysis. This represents an average of 2018 EBITDA and Fitch's
forecast of 2019 EBITDA, which Fitch believes would be a reasonable
going concern expectation upon emergence, as this would likely
represent a loss of one or more major customer or contract from
backlog, which are expected to grow significantly over the next
several years.

Fitch generally assumes a fully drawn first lien revolver in its
recovery analyses since credit revolvers are tapped as companies
are under distress. Fitch assumed the company's recently upsized
$400 million ABL revolver was 85% drawn, which demonstrates the
contraction of the borrowing base as a company becomes distressed.
This is in line with other examples observed in bankruptcy studies
and differs from Fitch's recent review of StandardAero following
the company's decision to term out its ABL borrowings. The
increased size also reduces the overcollateralization cushion of
the current inventory and receivables balances, which supports
Fitch's renewed assumption to consider the ABL 85% drawn.

The 'BB' rating and Recovery Rating of 'RR1' on the ABL revolver
are based on Fitch's recovery analysis under a going concern
scenario, which indicates outstanding recovery prospects in the
range of 91% to 100%. The 'BB-' rating and Recovery Rating of 'RR2'
on the company's first lien term loan and senior secured revolver
would indicate strong recovery prospects for the credit facility in
the range of 71% to 90%

RATING SENSITIVITIES

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

- Adjusted leverage below 5.0x for a sustained period;

- Sustained FCF margin greater than 2%;

- FFO Fixed Charge Coverage ratio greater than 3.0x over a
sustained period.

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

- Material contract cancellations caused by weakened reputation;

- Sustained negative FCF;

- Adjusted leverage greater than 6.0x over a sustained period.

LIQUIDITY AND DEBT STRUCTURE

Adequate Liquidity: Fitch believes that StandardAero's liquidity
will fluctuate between $250 million and $500 million over the
rating horizon, comprised of between $20 million to $55 million in
cash, as well as a combination of availability under its ABL
facility and revolving credit facility. Liquidity, along with
internally generated cash, should be sufficient to cover near-term
expenses such as working capital growth, debt amortization and
capex. The company's capital structure includes a senior secured
ABL facility, senior first lien revolver and senior first lien term
loan B. The company also has $640 million of private unsecured
notes with a PIK feature for the first two years, which provides
some additional financial flexibility.


EL CANO: Unsecureds Owed $413 to Recover 100% in 5 Years
--------------------------------------------------------
El Cano Development Inc. filed a Second Amended Disclosure
Statement on Jan. 24, 2020, to explain a Plan that provides:

   * Class 2A - Francisco and Edda Ponsa Flores. IMPAIRED: Secured:
$476,530.57.  Once the plan is approved, the Debtor will transfer
to the creditors the collateral in full and only payment on the
creditor's secured debt.

   * Class 2B: Triangle Cayman Asset Company. IMPAIRED. Secured
$136,898.96. Co-debtors are making monthly payments and will
continue making the payments until the maturity date of the
Stipulation.

   * Class 3: Claim 3: General Unsecured Claims: $413.37. IMPAIRED.
The Debtor will pay 100% of the allowed unsecured claims to be paid
in 60 equal payments of $7.00.  As to the assessment of $5,000 in
appeal process, the Debtor will pay 100% of the claim in 60 equal
payments of $93.00.

Payments and distributions under the Plan to the unsecured
creditors will be funded from the debtor's post petition income
from the operation of the business, sale of parcels of land.

A full-text copy of the Second Amended Disclosure Statement dated
Jan. 24, 2020, is available at https://tinyurl.com/spx8aqd from
PacerMonitor.com at no charge.

The Debtor's Attorney:

     MODESTO BIGAS MENDEZ
     USDC 129507
     PO Box 7462
     Ponce, PR 00732-7462
     Tel. 787-844-1444; Fax 787-842-4090
     modestobigas@yahoo.com

                 About El Cano Development

El Cano Development Inc. sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D.P.R. Case No. 16-08122) on Oct. 11, 2016.
In the petition signed by Adrian J. Hilera Vidal, president, the
Debtor was estimated to have assets of less than $1 million and
liabilities of less than $500,000.  Modesto Bigas Law Office is the
Debtor's bankruptcy counsel.


ELEFTHERIA LLC: Trustee Hires GrandPoint Realty as Realtor
----------------------------------------------------------
Michael E. Collins, the Chapter 11 Trustee of Eleftheria, LLC,
seeks authority from the U.S. Bankruptcy Court for the Western
District of Tennessee to employ GrandPoint Realty LLC, as realtor
to the Trustee.

The Trustee requires GrandPoint Realty to market and sell the
Debtor's real property known as (i) 2884 Walnut Grove Road,
Memphis, Tennessee 38111; and (ii) 405 N. Cleveland Street,
Memphis, Tennessee 38104.

GrandPoint Realty will be paid a commission of 6% of the sales
price.

Nash Hassen, realtor at GrandPoint Realty LLC, assured the Court
that the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtor and its estates.

GrandPoint Realty can be reached at:

     Nash Hassen
     GRANDPOINT REALTY LLC
     3000 Walnut Grove, Suite 200
     Memphis, TN 38111
     Tel: (901) 550-9255

               About Eleftheria LLC

Eleftheria, LLC, is the fee simple owner of two real estate
properties in Memphis, Tenn., having a total current value of
$1.153 million.

Eleftheria filed a Chapter 11 petition (Bankr. W.D. Tenn. Case No.
19-26603) on Aug. 20, 2019. In the petition signed by James Skefos,
chief manager, the Debtor disclosed $1,153,000 in assets and
$2,292,812 in liabilities. Judge Jennie D. Latta oversees the case.
Eugene G. Douglass, Esq., at Douglass & Runger, is the Debtor's
bankruptcy counsel.

Michael E. Collins, Esq., was appointed as the Debtor's Chapter 11
trustee. The trustee is represented by Manier & Herod, P.C.



ENALASYS CORPORATION: Seeks $50K Insider Loan to Finance Litigation
-------------------------------------------------------------------
Enalasys Corporation seeks authority from the Bankruptcy Court to
obtain $50,000 of super priority loan from Scott Miller to fund the
necessary litigation expenses of its Chapter 11 estate for the
recovery of assets.  
   
The Debtor, determining that there has been serious misconduct and
mismanagement of its former management team, filed in December
2018, a verified complaint for temporary restraining order,
preliminary injunctive, and permanent injunction in Imperial County
Superior Court against its former president, Eric Taylor.  The
Debtor seeks for the return of all assets, including the $211,000
Mr. Taylor allegedly withdrew from the Debtor's bank account, so
that the Debtor could continue operating and conducting its
business.

The DIP loan is secured by all of the Debtor's assets and will be
payable in 24 months at 10% annual interest.  No payments will be
due until the end of the loan term.  Mr. Miller is an insider and
director of the Debtor.

A copy of the motion is available at https://is.gd/6TWhjB from
PacerMonitor.com free of charge.
                                        
                    About Enalasys Corporation

Enalasys Corporation develops, markets and sells heating and air
conditioning-related products and services especially those related
to environmental matters.

Enalasys Corporation filed a voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. C.D. Cal. Case No.
19-11987) on May 23, 2019, listing under $1 million in both assets
and liabilities.  The Debtor is represented by Michael Jones, Esq.,
at M Jones & Associates, PC.


EVENTIDE CREDIT: Feb. 7 Meeting Set to Form Creditors' Panel
------------------------------------------------------------
William T. Neary, United States Trustee for for Region 6, will hold
an organizational meeting on Feb. 7, 2020, at 10:00 a.m. in the
bankruptcy case of Eventide Credit Acquisitions, LLC.

The meeting will be held at:

         United States Trustee Meeting Room
         Fritz G. Lanham Federal Building
         819 Taylor Street, Room 7A24
         Fort Worth, Texas 76102

The sole purpose of the meeting will be to form a committee or
committees of unsecured creditors in the Debtors' case.

The organizational meeting is not the meeting of creditors pursuant
to Section 341 of the Bankruptcy Code.  A representative of the
Debtor, however, may attend the Organizational Meeting, and provide
background information regarding the bankruptcy cases.

To increase participation in the Chapter 11 proceeding, Section
1102 of the Bankruptcy Code requires that the United States Trustee
appoint a committee of unsecured creditors as soon as practicable.
The Committee ordinarily consists of the persons, willing to serve,
that hold the seven largest unsecured claims against the debtor of
the kinds represented on the committee.

Section 1103 of the Bankruptcy Code provides that the Committee may
consult with the debtor, investigate the debtor and its business
operations and participate in the formulation of a plan of
reorganization.  The Committee may also perform other services as
are in the interests of the unsecured creditors whom it
represents.

                       About Eventide Credit

Eventide Credit Acquisitions, LLC, sought protection under Chapter
11 of the Bankruptcy Code (Bankr. D. Texas Case No. 20-40349) on
January 28, 2020.  At the time of the filing, the Debtor estimated
assets of between $50 million to $100 million and liabilities of
between $1 million to $10 million.  The petition was signed by The
petition was signed by Drew McManigle, manager.  Bernard R. Given,
II, Esq. of LOEB & LOEB LLP is Debtor's counsel.


FAIRWAY GROUP: Feb. 4 Meeting Set to Form Creditors' Panel
----------------------------------------------------------
The United States Trustee for Region 2 will hold an organizational
meeting on Feb. 4, 2020, at 11:00 a.m. EST in the bankruptcy case
of Fairway Group Holdings Corp., et al.

The meeting will be held at:

         United States Bankruptcy Court
         For the Southern District of New York
         One Bowling Green, Room 511
         New York, NY 10004

The sole purpose of the meeting will be to form a committee or
committees of unsecured creditors in the Debtors' case.

The organizational meeting is not the meeting of creditors pursuant
to Section 341 of the Bankruptcy Code.  A representative of the
Debtor, however, may attend the Organizational Meeting, and provide
background information regarding the bankruptcy cases.

To increase participation in the Chapter 11 proceeding, Section
1102 of the Bankruptcy Code requires that the United States Trustee
appoint a committee of unsecured creditors as soon as practicable.
The Committee ordinarily consists of the persons, willing to serve,
that hold the seven largest unsecured claims against the debtor of
the kinds represented on the committee.

Section 1103 of the Bankruptcy Code provides that the Committee may
consult with the debtor, investigate the debtor and its business
operations and participate in the formulation of a plan of
reorganization.  The Committee may also perform other services as
are in the interests of the unsecured creditors whom it
represents.

                    About Fairway

Headquartered in New York, Fairway Group Holdings Corp. is a food
retailer offering customers a differentiated one-stop shopping
experience "Like No Other Market".  Fairway claims to have
established itself as a leading food retailing destination in the
Greater New York City metropolitan area, with stores that emphasize
an extensive selection of fresh, natural and organic products,
prepared foods and hard-to-find specialty and gourmet offerings,
along with a full assortment of conventional groceries.

Fairway operates 15 locations in the Greater New York City
metropolitan area, including four Fairway Wines & Spirits
locations.  Seven Fairway stores are located in New York City and
the remainder of Fairway's stores are located in New York (outside
of New York City), New Jersey and Connecticut.  

Fairway Group, et al., filed Chapter 11 bankruptcy petitions
(Bankr. S.D.N.Y. Proposed Lead Case No. 16-11241) on May 2, 2016.
The petitions were signed by Edward C. Arditte as co-president and
chief financial officer.

The Debtors have engaged Weil, Gotshal & Manges LLP as counsel,
Norton Rose Fulbright US LLP as special corporate counsel, Curtis,
Mallet-Prevost, Colt & Mosle LLP as conflicts counsel, Alvarez &
Marsal as financial advisor and Prime Clerk LLC as claims and
noticing agent.


FAIRWAY GROUP: Seeks OK of $25M DIP Loan from Prepetition Lenders
-----------------------------------------------------------------
Fairway Group Holdings Corp., and debtor affiliates seek authority
to obtain up to $25 million of superpriority senior secured DIP
credit facility (with an interim draw of $15.0 million) from
certain of the Debtors' pre-petition secured lenders, with Ankura
Trust Company, LLC as agent.     

The Debtors intend to use the loan proceeds to pay ordinary-course
operating expenses, finance their Chapter 11 cases, pursue the sale
of substantially all of their assets, and, ultimately, to
consummate the transactions contemplated by the Restructuring
Support Agreement entered into between the Debtors and an ad hoc
group of lenders.  Pursuant to the RSA, the ad hoc group of lenders
agreed to provide the Debtors with post-petition financing, support
a Chapter 11 plan as well as the sale process of substantially all
of the Debtors' assets.  

The material terms of the DIP financing are:

   * Borrower:  Fairway Group Acquisition Company

   * Guarantors: Fairway Group Holdings Corp., and each of the
Borrower's existing and future direct and indirect subsidiaries

   * DIP Lenders:  Certain of the super senior lenders

   * Administrative agent:  Ankura Trust Company, LLC

   * Borrowing Limits:  Up to $20.0 million (up to $15.0 million
available on an interim basis), with up to $5.0 million of
additional funds potentially available under the delayed draw DIP
facility

   * Interest Rate:  10.00%, calculated on the basis of the actual
number of days elapsed in a 360 day year

   * Superpriority Claim:  
     The granting to the DIP Secured Parties of allowed
superpriority claims pursuant to section 364(c)(1) of the
Bankruptcy Code payable from and having recourse to all
pre-petition and post-petition property of the Debtors' estates and
all proceeds thereof (other than avoidance actions, but, upon entry
of the Final Order, including the proceeds of such avoidance
actions).

   * Maturity Date:  The earliest of:
     (i) the date that is nine months after the Petition Date;
    (ii) the consummation of any sale of all or substantially all
of the assets of the Debtors pursuant to section 363 of the
Bankruptcy Code;
   (iii) if the Final Order has not been entered, the date that is
35 calendar days after the Petition Date;
   (iv) the acceleration of the DIP loans and the termination of
the commitments of the DIP lenders to provide DIP loans pursuant to
an event of default; and
   (v) the effective date of a Chapter 11 plan.

   * Liens and Priorities:  Subject to the carve-out, the DIP
financing will be secured by:

     - (and subject only to existing liens that under applicable
law, are senior to, and have not been subordinated to, the liens of
the DIP Agent under the DIP Loan Documents), a first priority
perfected senior priming lien on, and security interest in the
collateral securing the pre-petition obligations that may be
subject to a validly perfected security interest existing on the
Petition Date securing the pre-petition obligations under the
pre-petition loan documents, which pre-petition liens shall be
primed by, and made subject and subordinate to, the perfected first
priority senior priming liens and security interests to be granted
to the DIP Agent for the benefit of the DIP Lenders, which senior
priming liens and security interests in favor of the DIP Agent for
the benefit of the DIP Lenders shall also be senior to the
Prepetition Lender Adequate Protection Liens;

     - a first priority perfected lien on, and security interest
in, all present and after acquired property of the Debtors, not
subject to a lien or security interest on the date of commencement
of the Chapter 11 cases;

     - a junior perfected lien on, and security interest in, all
present and after-acquired property of the Debtors, that is subject
to a perfected lien or security interest on the Petition Date or
subject to a lien or security interest in existence on the Petition
Date that is perfected subsequent thereto; and

     - a first priority perfected lien on, and security interest
in, all funds on deposit in the controlled accounts.

   * Carve-out:

   (i) Clerk and U.S. Trustee under section 1930(a) of title 28 of
the United States Code plus interest at the statutory rate,

   (ii) up to $25,000 of reasonable Chapter 7 Trustee Fees and
expenses under Section 726(b) of the Bankruptcy Code;

  (iii) allowed professional fees and all budgeted and accrued
unpaid fees, disbursements, costs and expenses incurred by the
Committee (if any) pursuant to section 328 and 1103 of the
Bankruptcy Code at any time before or on the first business day
following delivery by the DIP Agent of a Carve Out Trigger Notice,
whether allowed by the Bankruptcy Court prior to or after delivery
of a Carve Out Trigger Notice;
   (iv) stalking horse termination fee, subject to entry of the Bid
Procedures Order, and any of buyer's damages, pursuant to the Asset
Purchase Agreement, dated January 22, 2020, by and among Holdings
and Village Super Market, Inc., provided that said amounts, in the
aggregate, do not exceed three percent of the cash purchase price,
and
    (v) post-carve-out trigger notice cap of up to $500,000
incurred after the first business day following delivery by the DIP
agent of a carve-out trigger notice.

                   Cash Collateral Use, Budget

The Debtors also seek to use the pre-petition lenders' cash
collateral.  The initial budget provided for $14,281,000 in total
operating disbursements for the week-ending Feb. 9, 2020, including
$8,833,000 for merchandise, $2,476,000 for payroll and $2,101,000
for rent.  

The Debtors propose to provide adequate protection to the
pre-petition secured parties, solely to the extent of any
diminution in value of their respective interests in the
pre-petition collateral, including the cash collateral, in the form
of:
   (a) cash payment of interest at the non-default rate on account
of obligations outstanding under the Super Senior Credit
Facilities, provided that if the DIP Roll Up is approved by the
Court, said interest payments will cease and will no longer be
provided as adequate protection;

   (b) cash payment of the reasonable and documented costs and
expenses of the prepetition secured parties;

   (c) adequate protection liens and superpriority claims;

   (d) 506(c) and 552(b) waivers (in each case subject to entry of
the Final Order);

   (e) stipulations as to the liens and claims held by such
parties; and

   (f) certain financial reporting requirements.

As of the Petition Date, the Debtors owe approximately $227.1
million in the aggregate under the prepetition credit agreement,
which, in the approximate amounts, consists of:

   (i) $16.0 million outstanding under the Super Senior Term Loan
Facility;
  (ii) $26.8 million outstanding under the Super Senior L/C
Facility,
(iii) $76.5 million outstanding under the Senior First Out Term
Loan;
  (iv) $56.8 million outstanding under the Senior Last Out Term
Loan, and
   (v) $51.0 million outstanding under the Holdco Loan.
                                                               
                          Milestones

The DIP Agreement provided for Chapter 11 and Sales milestones as
follows:

* Chapter 11 Milestones:

  (a) no later than three calendar days after the Petition date,
the Bankruptcy Court shall have entered the Interim DIP Order.
  (b) No later than 30 calendar days after the Petition Date:
      - the Debtors shall have filed a plan of reorganization, in
form and substance satisfactory to the DIP agent and the requisite
DIP lenders;
      - the Debtors shall have filed disclosure statement motion
and disclosure statement in form and substance satisfactory to the
DIP agent and the requisite DIP lenders.
      - the Bankruptcy Court shall have entered an order setting
the date by which proofs of claim for general unsecured creditors
must be filed.
   (c) No later than 35 calendar days after the Petition Date, the
Bankruptcy Court shall have entered the final DIP order.
   (d) No later than 60 calendar days after the Petition Date, the
Bar Date shall have occurred.
   (e) No later than 65 calendar days after the Petition Date, the
Bankruptcy Court shall have entered an order approving the
Disclosure Statement.  
(f) No later than 70 calendar days after the Petition Date, the
Debtors shall have commenced solicitation on the Chapter Plan.
(g) No later than 120 calendar days after the Petition Date, the
Bankruptcy Court shall have entered an order confirming the Chapter
11 Plan.
(h) No later than 125 calendar days after the Petition Date, the
effective date of the Chapter 11 Plan shall have occurred.

   * Sale Milestones:

    (a) Prior to the Petition Date, the Debtors shall have entered
into a stalking horse purchase agreement with Village Supermarket,
Inc., for a substantial portion of the Debtors' assets, and such
Stalking Horse Agreement shall not have been terminated by the
Stalking Horse Bidder.

    (b) No later than two calendar days after the Petition Date,
the Debtors shall file a motion, requesting:
       (x) an order from the Bankruptcy Court:
         (i) approving the proposed bid procedures related to the
sale of substantially all of the Debtors' assets, including the
Stalking Horse Package, and
        (ii) authorizing the Debtors to provide the Stalking Horse
Bidder with the bid protections set forth in the Stalking Horse
Agreement, and
       (y) an order from the Bankruptcy Court approving the sale of
the Debtors' assets to the highest and best bidder for such assets,
including the sale of the Stalking Horse Package to the Stalking
Horse Bidder or such other higher or better bidder determined in
accordance with the Bid Procedures.
     (c) No later than 25 calendar days after the Petition Date,
the Debtors shall have obtained the Bid Procedures Order.
     (d) No later than 50 calendar days after the Petition Date,
the Debtors shall have commenced an auction, if applicable, for the
Stalking Horse Package.
     (e) No later than 55 calendar days after the Petition Date,
the Debtors shall have commenced an auction, if applicable, for the
Other Assets.
     (f) No later than 65 calendar days after the Petition Date,
the Bankruptcy Court shall have entered an order approving the sale
of the Stalking Horse Package; provided that if there is no overbid
for the Stalking Horse Package, then the Stalking Horse Sale Order
shall be entered no later than 50 calendar days after the Petition
Date.
     (g) No later than 65 calendar days after the Petition Date,
the Bankruptcy Court shall have entered an order approving the sale
of the Other Assets.
     (h) No later than calendar 68 days after the Petition Date,
the Debtors shall have consummated the sale(s) of the Stalking
Horse Package to the winning bidder(s) at the applicable auction,
provided if there is no overbid for the Stalking Horse Package,
then the Debtors shall have consummated the sale(s) of the Stalking
Horse Package no later than 55 days from the Petition Date.
     (i) No later than calendar 70 days after the Petition Date,
the Debtors shall have consummated the sale(s) of the Other Assets
to the winning bidder(s) at the applicable Auction.

A copy of the DIP motion, as well as the initial budget, is
available free of charge at https://is.gd/0SVAYp
from PacerMonitor.com.

              About Fairway Group Holdings Corp.

Fairway -- https://www.fairwaymarket.com/ -- is a food retailer
operating 14 supermarkets across the New York, New Jersey and
Connecticut tri-state area, including two with freestanding wine
and liquor stores (the Stamford and Pelham locations) and two with
in-store wine and liquor stores (the Woodland Park and Paramus
locations).  The company's flagship store is located at Broadway
and West 74th Street, on the Upper West Side of Manhattan,
featuring a cafe, Sur la Route, and state of the art cooking
school.  Fairway's stores emphasize an extensive selection of
fresh, natural, and organic products, prepared foods, and
hard-to-find specialty and gourmet offerings, along with a full
assortment of conventional groceries.

Fairway Group Holdings Corp. and 25 affiliated companies sought
Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No. 20-10161) on
January 23, 2020.  The petitions were signed by Abel Porter, chief
executive officer.

On a consolidated basis, the Debtors estimate $100 million to $500
million in assets and liabilities on the Petition Date.  

Weil, Gotshal & Manges LLP represents the Debtors as counsel.
Peter J. Solomon and Mackinac Partners, LLC are the Debtors'
financial advisor.  Omni Agent Solutions is the Debtors' claims,
noticing, & solicitation agent.  Judge James L. Garrity, Jr., is
assigned to the case.


FALLS EVENT: Seeks Gen. Liability Premium Financing for Waterpark
-----------------------------------------------------------------
Michael F. Thomson, Chapter 11 trustee for the bankruptcy estate of
The Falls Event Center LLC and debtor affiliates, seeks authority
from the Bankruptcy Court to enter into a commercial premium
finance agreement with FIRST Insurance Funding, a division of Lake
Forest Bank & Trust Company, N.A., to cover general liability and
excess liability insurance of Wings and Wave, an indoor waterpark
Debtor TFEC operates on its McMinnville property.  The Trustee
seeks to renew the same liability insurance policy that the Court
approved in February 2019.

Under the terms of the premium finance agreement, Debtor TFEC will
make an initial down payment of $35,595.95, plus 10 monthly
installments of $7,869.25, payable on the 13th day of each month
beginning February 13, 2020.  Final installment will be due on
November 13, 2020.  The 2020 liability insurance premiums total
$111,873.  Finance charge under the agreement is $2,415.25.  As
collateral to secure the repayment under the premium finance
agreement, TFEC and Trustee are granting FIRST a security interest
in the policy, including the unearned premiums of the policy.

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

                About The Falls Event Center

The Falls Event Center LLC sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. D. Utah Case No. 18-25116) on July 11,
2018.  At the time of the filing, the Debtor was estimated to have
assets of $50 million to $100 million and liabilities of $100
million to $500 million.  

Judge R. Kimball Mosier oversees the case.  

Ray Quinney & Nebeker P.C. is the Debtor's legal counsel.  The
Debtor tapped Gil Miller and his firm Rocky Mountain Advisory, LLC,
as restructuring advisors.

On July 27, 2018, the U.S. Trustee appointed an official committee
of unsecured creditors in the case.

In November 2018, Judge R. Kimball Mosier entered an order
appointing Michael F. Thomson as Chapter 11 trustee.  DORSEY &
WHITNEY LLP is the Trustee's counsel.

On April 30, 2019, the Court appointed Jones Lang Lasalle Americas,
Inc., and Jones Lang Lasalle Brokerage, Inc., as Real Estate Broker
for the Trustee.


FFBC OPERATIONS: Celis to Fund $50,000 to the Liquidating Trust
---------------------------------------------------------------
Debtors FFBC Operations, LLC d/b/a Celis Brewery and FFBC Real
Estate, LLC, filed a Third Amended Joint Plan of Reorganization and
a Third Amended Disclosure Statement.

Holders of Allowed General Unsecured Claims in Class 7 will receive
pro rata distributions from amounts collected by the Liquidating
Trust.  The Debtors shall form the FFBC Liquidating Trust.  The
Debtors will assign to the Trust all Estate Causes of Action,
including causes of action under Chapter 5 of the Bankruptcy Code.
Celis Phoenix will fund an additional $50,000 to the Trust to fund
the initial investigation and pursuit of such claims.

Existing Equity Interests in both Debtors shall be canceled, and
new equity shall be issued to Celis Phoenix, LLC or an entity
designated by it, in return for the satisfaction of all
pre-petition claims, the DIP loan made to Debtors post-petition,
the funding of $900,000 into the Debtors’ operating account as
set forth in the Commitment Letter.

All Cash necessary for the Reorganized Debtors to make payments
pursuant to the Plan shall be obtained from operations of the
Debtors and from cash contributions of Celis Phoenix, LLC pursuant
to the Commitment Letter.

A full-text copy of the third amended disclosure and plan dated
January 14, 2020, is available at https://tinyurl.com/rfno2lu from
PacerMonitor.com at no charge.

The Debtors are represented by:

        Eric J. Taube
        Mark C. Taylor
        WALLER, LANSDEN DORTCH & DAVIS, LLP
        100 Congress Avenue, 18th Floor
        Austin, Texas 78701
        Tel: (512) 472-5997
        Fax: (512) 472-5248

                    About FFBC Operations and
                        FFBC Real Estate

FFBC Operations, LLC, owns Celis Brewery, a craft brewery focusing
on Belgian-style beers. FFBC Real Estate classifies its business as
single asset real estate (as defined in 11 U.S.C. Section
101(51B)).

FFBC Operations LLC and FFBC Real Estate, LLC, sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Tex. Lead Case
No. 19-10869) on July 1, 2019. At the time of the filing, FFBC
Operations was estimated to have assets between $1 million and $10
million and liabilities of the same range.  FFBC Real Estate was
estimated to have assets between $1 million and $10 million and
liabilities between $10 million and $50 million.  The cases are
assigned to Judge Tony M. Davis. Lansden Dortch & Davis, LLP, is
the Debtors' legal counsel.


FFBC OPERATIONS: Feb. 20 Plan Confirmation Hearing Set
------------------------------------------------------
On Jan. 10, 2020, the U.S. Bankruptcy Court for the Western
District of Texas, Austin Division, conducted a hearing on approval
of a Second Amended Disclosure Statement dated January 6, 2020, for
a Plan of Reorganization filed by debtors FFBC Operations, LLC
d/b/a Celis Brewery and FFBC Real Estate, LLC.

On Jan. 14, 2020, Judge H. Christopher Mott approved the Disclosure
Statement and established the following dates and deadlines:

  * Feb. 14, 2020, at 5:00 p.m. (CT) is fixed as the last day for
submitting ballots for acceptances or rejections of the Plan.

  * Feb. 14, 2020, at 5:00 p.m. (CT) is also fixed, pursuant to
Bankruptcy Rule 3020(b)(1), as the last day for filing and serving
written objections to confirmation of the Plan and cure grants.

  * By Feb. 18, 2020, counsel for the Debtors shall file with the
Court (a) a ballot summary in the form required by Local Bankruptcy
Rule 3018(b) with a copy of the ballots and (b) a memorandum of
legal authorities addressing any unresolved objections filed to the
Plan.

  * Feb. 20, 2020, at 1:30 p.m. (CT), at the U.S. Bankruptcy Court,
Courtroom No. 2, 903 San Jacinto Blvd., Austin, Texas, is fixed as
the time and place of the hearing on confirmation of the Plan and
any objections thereto.

A full-text copy of the order dated Jan. 14, 2020, is available at
https://tinyurl.com/vglwje9 from PacerMonitor.com at no charge.

The Debtors are represented by:

          WALLER LANSDEN DORTCH & DAVIS, LLP
          Eric Taube
          Mark Taylor
          100 Congress Avenue, Suite 1800
          Austin, Texas 78701
          Tel: (512) 685-6400
          Fax: (512) 685-6417
          E-mail: eric.taube@wallerlaw.com
                  mark.taylor@wallerlaw.com

                  About FFBC Operations and
                       FFBC Real Estate

FFBC Operations, LLC, owns Celis Brewery, a craft brewery focusing
on Belgian-style beers. FFBC Real Estate classifies its business as
single asset real estate (as defined in 11 U.S.C. Section
101(51B)).

FFBC Operations LLC and FFBC Real Estate, LLC, sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Tex. Lead Case
No. 19-10869) on July 1, 2019. At the time of the filing, FFBC
Operations estimated assets between $1 million and $10 million and
liabilities of the same range. FFBC Real Estate estimated assets
between $1 million and $10 million and liabilities between $10
million and $50 million. The cases are assigned to Judge Tony M.
Davis. Lansden Dortch & Davis, LLP, is the Debtors' legal counsel.


FLEXENTIAL INTERMEDIATE: Moody's Rates $250MM First Lien Notes 'B2'
-------------------------------------------------------------------
Moody's Investors Service assigned a B2 rating to Flexential
Intermediate Corporation's proposed $250 million, 5-year senior
secured 1st lien notes, in line with the company's existing senior
secured 1st lien debt. The net proceeds from the sale of the
secured notes will be used to fully repay the outstanding balance
on the company's revolving credit facility and add cash to the
balance sheet. The additional liquidity will be used to fund
Flexential's strategic initiatives and success-based capital
spending. All other ratings including the company's B3 corporate
family rating and negative outlook are unchanged.

Assignments:

Issuer: Flexential Intermediate Corporation

Senior Secured Regular Bond/Debenture, Assigned B2 (LGD3)

LGD Adjustments:

Senior Secured 2nd Lien Bank Credit Facility, Adjusted to (LGD6)
from (LGD5)

RATINGS RATIONALE

Flexential's B3 CFR reflects its modest scale, high leverage and
high capital intensity associated with growing the business. These
limiting factors are offset by Flexential's stable base of
contracted recurring revenue, its position as a high-quality
colocation provider in Tier 2 markets in a still growing sector and
its national footprint and sales capabilities with larger
network-centric customers.

Moody's expects Flexential to have adequate liquidity over the next
12 months. Following the transaction, the company will have about
$137 million of cash on the balance sheet and full availability
under its $150 million revolving credit facility, but current
growth plans will reduce liquidity through year-end 2020. Over the
next 12 to 18 months, Moody's currently projects Flexential will
generate no better than slightly negative to breakeven free cash
flow. The revolver contains a first lien net leverage ratio test
when more than 30% of the revolver is drawn. The company maintains
adequate cushion under this financial covenant currently.

The ratings for the debt instruments reflect both the overall
probability of default of Flexential, reflected in the probability
of default rating of B3-PD, and individual loss given default (LGD)
assessments. The $1.2 billion senior secured 1st lien term loan,
$150 million senior secured 1st lien revolver, and proposed $250
million senior secured 1st lien notes are rated B2 (LGD3), one
notch higher than the B3 CFR given the support provided by the
company's Caa2 (LGD6) rated $310 million senior secured 2nd lien
term loan.

The negative outlook reflects Moody's view that Flexential's credit
metrics will remain under pressure over the next 12 months given
revenue and EBITDA growth weakness, churn trends and capital
intensity.

Though unlikely given Flexential's high leverage, Moody's could
consider a ratings upgrade if the company generated free cash flow
equal to at least 5% of debt and leverage were to trend towards 5x
(both on a Moody's adjusted basis).

Downward rating pressure could develop if bookings growth is weak,
churn rises, monthly recurring revenue trends turn negative or if
Moody's expects leverage to be sustained above 7x through 2020. In
addition, if liquidity becomes strained or if capital intensity
becomes less success-based, a downgrade is likely.

Headquartered in Charlotte, NC, Flexential is a provider of
network-neutral data center, cloud and managed services.

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


GAUCHO GROUP: Further Amends Stock Certificate of Designation
-------------------------------------------------------------
As previously reported, on Feb. 28, 2017, Gaucho Group Holdings,
Inc. filed a Certificate of Designation of the Series B Convertible
Preferred Stock designating 902,670 shares of preferred stock of
the Company, par value $0.01 as Series B Convertible Preferred
Stock.  Among the other rights and preferences of the holders of
Series B Shares, if such Series B Shares had not been previously
converted into common stock, the holders were entitled to convert
their Series B Shares to common stock up until the date that was
two years following the termination of any offering of the Series B
Shares, at which time the Company would redeem all then-outstanding
Series B Shares. Also as previously reported, the termination date
of the offering of the Series B Shares was Dec. 4, 2017.

On Dec. 3, 2019, the Board and holders of a majority of the issued
and outstanding shares of Series B Shares approved the Amendment to
the Certificate of Designation of the Series B Convertible
Preferred Stock which extended the period in which holders of the
Series B Shares may voluntarily elect to convert those shares into
shares of common stock of the Company to
Jan. 31, 2020.  In addition, the Series B Amendment extended the
date upon which the Company shall redeem all then-outstanding
Series B Shares and all unpaid accrued and accumulated dividends to
Jan. 31, 2020.  The Series B Amendment was filed with the Secretary
of State of the State of Delaware on Dec. 3, 2019.

On Jan. 28, 2020, the Board approved an additional Amendment to the
Certificate of Designation of the Series B Convertible Preferred
Stock and on Jan. 30, 2020, holders of a majority of the issued and
outstanding shares of Series B Shares approved the Second Amendment
which extends the period in which holders of the Series B Shares
may voluntarily elect to convert those shares into shares of common
stock of the Company to April 15, 2020.  In addition, the Series B
Amendment extends the date upon which the Company shall redeem all
then-outstanding Series B Shares and all unpaid accrued and
accumulated dividends to April 15, 2020.  The Second Amendment was
filed with the Secretary of State of the State of Delaware on Jan.
30, 2020.

                       About Gaucho Group

Headquartered in New York, NY, Gaucho Group Holdings, Inc. --
http://www.algodongroup.com-- was incorporated on April 5, 1999.  
Effective Oct. 1, 2018, the Company changed its name from Algodon
Wines & Luxury Development, Inc. to Algodon Group, Inc., and
effective March 11, 2019, the Company changed its name from Algodon
Group, Inc. to Gaucho Group Holdings, Inc.  Through its
wholly-owned ubsidiaries, GGH invests in, develops and operates
real estate projects in Argentina.  GGH operates a hotel, golf and
tennis resort, vineyard and producing winery in addition to
developing residential lots located near the resort.  In 2016, GGH
formed a new subsidiary and in 2018, established an e-commerce
platform for the manufacture and sale of high-end fashion and
accessories.  The activities in Argentina are conducted through its
operating entities: InvestProperty Group, LLC, Algodon Global
Properties, LLC, The Algodon - Recoleta S.R.L, Algodon Properties
II S.R.L., and Algodon Wine Estates S.R.L. Algodon distributes its
wines in Europe through its United Kingdom entity, Algodon Europe,
LTD.

Gaucho Group reported a net loss attributable to common
stockholders of $6.40 million for the year ended Dec. 31, 2018,
compared to a net loss attributable to common stockholders of $8.25
million for the year ended Dec. 31, 2017.  As of Sept. 30, 2019,
Gaucho Group had $7.02 million in total assets, $4.96 million in
total liabilities, $9.03 million in series B convertible redeemable
preferred stock, and a total stockholders' deficiency of $6.97
million.

Marcum LLP, in New York, the Company's auditor since 2013, 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 a significant working
capital deficiency, has incurred significant losses and needs to
raise additional funds to meet its obligations and sustain its
operations.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern.


GENCANNA GLOBAL: Stites Represents Dean Dorton, Central Bank
------------------------------------------------------------
Pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure,
the law firm of Stites & Harbison PLLC submitted a verified
statement to disclose that it is representing Dean Dorton Allen
Ford, PLLC and Central Bank & Trust Co. in the Chapter 11 cases of
GEnCanna Global USA, Inc.

The names and addresses of the entities represented by Stites are
as follows:

   (a) Dean Dorton Allen Ford, PLLC
       Attention: Elizabeth Woodward
       250 W. Main Street, Suite 1400
       Lexington, Kentucky 40507
       Telephone: (859) 255-2341

   (b) Central Bank & Trust Co.
       Attention: Ellen Sharp
       300 W. Vine Street
       Lexington, Kentucky 40507
       Telephone: (859) 253-6235

Dean Dorton Allen Ford, PLLC has a claim arising from unpaid
invoices for goods and services.

Central Bank & Trust Co. has a claim arising from a note commercial
note, mortgage, and assignment of leases and rents.

Each entity named above in its capacity as a creditor of the Debtor
separately requested that the law firm of Stites & Harbison, PLLC
serve as its counsel in connection with the Debtor's Chapter 11
case. Each entity named above is aware of and has consented to
Stites' simultaneous representation of each other in this
proceeding. The circumstances and terms and conditions of
employment of Stites by the entities is protected by the
attorney-client privilege and attorney work product doctrine.

Counsel for Creditors, Dean Dorton Allen Ford, PLLC and Central
Bank & Trust Co. can be reached at:

          STITES & HARBISON PLLC
          Chrisandrea L. Turner, Esq.
          250 West Main Street
          Suite 2300
          Lexington, KY 40507-1758
          Telephone: (859) 226-2300
          E-mail: clturner@stites.com

A copy of the Rule 2019 filing, downloaded from PacerMonitor.com,
is available at https://is.gd/5ETqXa

                       About GenCanna Global

GenCanna Global USA, Inc. -- https://gencanna.com/ -- is a
vertically-
integrated producer of hemp and hemp-derived CBD products with a
focus on delivering social, economic, and environmental impact
through seed-to-scale agricultural production.

GenCanna Global USA was the subject of an involuntary Chapter 11
proceeding (Bankr. E.D. Kent. Case No. 20-50133-GRS) filed on Jan.
24, 2020.  The involuntary petition was signed by alleged creditors
Pinnacle, Inc., Crawford Sales, Inc., and Integrity/Architecture,
PLLC.  Laura Day DelCotto, Esq., at DELCOTTO LAW GROUP PLLC, is
representing the petitioners.


GENERAL CANNABIS: Will Sell Colorado Office Building for $1.6M
--------------------------------------------------------------
6565 E. Evans Owner LLC, a wholly-owned subsidiary of General
Cannabis Corp, entered into a contract to sell the Company's
greenhouse office building located at 6565 E. Evans Avenue, Denver,
Colorado, to certain individuals for a sale price of $1,570,000.
The sale is subject to customary closing conditions.

                    About General Cannabis Corp

Headquartered in Denver, Colorado, General Cannabis Corp --
http://www.generalcann.com/-- provides products, services and
capital to the regulated cannabis industry and non-cannabis
customers.  General Cannabis operates through its four wholly-owned
subsidiaries: (a) 6565 E. Evans Owner LLC, a Colorado limited
liability company formed in 2014; (b) General Cannabis Capital
Corporation, a Colorado corporation formed in 2015; (c) GC Security
LLC, a Colorado limited liability company formed in 2015; and (d)
GC Corp., a Colorado corporation, originally formed in 2013 under
ACS Corp.

General Cannabis reported a net loss of $16.97 million for the year
ended Dec. 31, 2019, following a net loss of $8.22 million for the
year ended Dec. 31, 2017.  As of Sept. 30, 2019, the Company had
$4.61 million in total assets, $5.70 million in total liabilities,
and a total stockholders' deficit of $1.09 million.

Hall & Company, in Irvine, California, the Company's auditor since
2014, issued a "going concern" qualification in its report dated
March 8, 2019, on the consolidated financial statements for the
year ended Dec. 31, 2018, citing that the Company's cash balance of
approximately $8.0 million is not sufficient to absorb the
Company's operating losses and retire their debt of $6,849,000 due
May 1, 2019.  Accordingly, there is substantial doubt about the
Company's ability to continue as a going concern.


GL BRANDS: Reports $14.5 Million Net Loss for First Quarter
-----------------------------------------------------------
GL Brands, Inc., filed with the Securities and Exchange Commission
its Quarterly Report on Form 10-Q reporting a net loss attributable
to common stockholders of $14.51 million on $2.12 million of net
revenue for the three months ended Sept. 30, 2019, compared to a
net loss attributable to common stockholders of $1.11 million on
$608,658 of net revenue for the three months ended Sept. 30, 2018.

As of Sept. 30, 2019, the Company had $19.46 million in total
assets, $13.43 million in total liabilities, and $6.02 million in
total stockholders' equity.

As of Sept. 30, 2019, the Company had $328,279 in cash.  The
Company used cash in operations of $1,139,610 for the three months
ended Sept. 30, 2019, compared to cash used in operations of
$525,800 for the three months ended Sept. 30, 2018.  The negative
cash flow from operating activities for the three months ended
Sept. 30, 2019 was attributable to the Company's net loss
attributable to common shareholders primarily due to: (1) increased
overhead associated with ECS Labs LLC operations; (2) increased
general and administrative expenses and marketing and selling
expenses in anticipation of expanding product sales various planned
activities; (3) increased inventory based on pending orders and in
anticipation of growing sales in the amount of $885,995; and (4)
payment of prior obligations of Freedom Leaf Inc. entities in the
amount of $1,099,911.

The Company satisfied $1,099,911 in obligations of Freedom Leaf
Inc., AccuVape, Leafceuticals, Tierra Science Global and Freedom
Leaf Europe that were incurred prior to the acquisition of ECS Labs
LLC.  An additional $602,294 in Acquisition Obligations were paid
subsequent to the filing period. $165,446 in Acquisition
Obligations are not yet paid.  These cash expenditures are
non-recurring.

The Company generated (used) cash from investing activities of
$70,203 and $(1,489) for the three months ended Sept. 30, 2019 and
2018, respectively.  The increase in cash generated from investing
activities of $71,692 was primarily related to proceeds from the
sale of fixed assets.

The Company had cash provided by financing activities of $1,038,500
and $470,427 for the three months ended Sept. 30, 2019 and 2018, of
which $1,100,000 was from the proceeds of notes payable compared to
$60,000 for the same period in 2018.

The Company anticipates raising funds to pay for its expenses in
the second half of calendar year 2020.  The Company may borrow
money from shareholders or issue debt or equity or enter into a
strategic arrangement with a third party.  There can be no
assurance that additional capital will be available to it.

                       Going Concern

In recent months, the Company has begun to execute its strategy of
selling or shutting down non-core and non-accretive business
segments and consolidating the Company's manufacturing, sales,
distribution and corporate functions into the newly acquired ECS
Labs LLC infrastructure.  The Company said these initiatives should
result in operational synergies and cost savings.

The Company's continuation as a going concern is dependent upon its
ability to generate revenues and its ability to continue receiving
investment capital and loans from third parties to sustain its
current level of operations.

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

                      https://is.gd/qXQgLE

                         About GL Brands

Headquartered in Las Vegas, NV, GL Brands (formerly Freedom Leaf)
-- https://www.glbrands.com/ -- is a multinational hemp consumer
packaged goods company that creates authentic, enduring and
culturally relevant brands engaged in the development and sale of
cannabis-derived wellness products.  Through its premier brands
Green Lotus and IrieCBD, GL Brands delivers a full portfolio of
hemp and hemp-derived CBD products, including tinctures, softgels,
gummies, capsules, sparkling beverages, vapes, flower and topical
segments to promote greater wellness and balance, in the U.S. and
throughout the world.

Freedom Leaf reported a net loss attributable to common
stockholders of $12.73 million for the year ended June 30, 2019,
compared to a net loss attributable to common stockholders of $4.63
million for the year ended June 30, 2018.

Sadler, Gibb & Associates, LLC, in Salt Lake City, UT, the
Company's auditor since 2018, issued a "going concern"
qualification in its report dated Nov. 14, 2019, citing that the
Company has suffered recurring losses from operations and has a net
capital deficiency that raise substantial doubt about its ability
to continue as a going concern.


GORDON JENSEN: Case Summary & 4 Unsecured Creditors
---------------------------------------------------
Debtor: Gordon Jensen Health Care Association, Inc.
          DBA Knollwood Nursing Home
        c/o Scott Hardin
        455 East Paces Ferry Road, NE
        Suite 302
        Atlanta, GA 30305

Business Description: Gordon Jensen Health Care Association, Inc.
                      is a tax-exempt, nonprofit corporation whose

                      mission is to provide elderly nursing care
                      and housing.

Chapter 11 Petition Date: February 1, 2020

Court: United States Bankruptcy Court
       Northern District of Georgia

Case No.: 20-61915

Debtor's Counsel: Theodore N. Stapleton, Esq.
                  THEODORE N. STAPLETON, P.C.
                  2802 Paces Ferry Road SE
                  Suite 100-B
                  Atlanta, GA 30339
                  Tel: (770) 436-3334
                  Email: tstaple@tstaple.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by Scott Hardin, president.

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

                     https://is.gd/es7NvP


GREAT FOOD: Gets OK to Borrow $45,000 for Professional Hospitality
------------------------------------------------------------------
Judge Carl L. Bucki authorized Great Food Great Fun, LLC and
Professional Hospitality, LLC to obtain $45,000 of short-term
unsecured post-petition financing from Amber Carlson.

The DIP loan will be used to pay Professional Hospitality's U.S.
Trustee fees for the third and fourth quarters 2019 as well as
start-up costs of its seasonal business in 2020.

A copy of the DIP order is available free of charge at
https://is.gd/NABMX9 from PacerMonitor.com.

                   About Great Food Great Fun and
                       Professional Hospitality

Great Food Great Fun LLC is a New York corporation which is doing
business as "Wing City Grille" and which operates a restaurant in
Fredonia, New York.  Professional  Hospitality, LLC, is a New York
corporation which is doing business as "Village Casino Restaurant"
and which operates a restaurant and banquet facilities on the
waterfront in Bemus Point, New York.  The Village Casino Restaurant
is seasonal, generally operating only between May 1 and Sept. 30
each year.  Great Food and Professional Hospitality are single
member limited liability corporations owned by Andrew C. Carlson,
an individual who is not in bankruptcy.  

Great Food Great Fun and Professional Hospitality sought Chapter 11
protection (Bankr. W.D.N.Y. Case Nos. 17-11557 and 17-11558,
respectively) on July 24, 2017.  Judge Carl L. Bucki oversees the
Debtors' jointly administered cases.  Andreozzi Bluestein LLP
serves as counsel to the Debtors.


GREAT FOOD: Seeks to Obtain $45K of Unsecured Financing
-------------------------------------------------------
Great Food Great Fun, LLC, and Professional Hospitality, LLC, seek
permission from the Bankruptcy Court to obtain up to $45,000 of
short-term new line of credit on an unsecured administrative
expense basis from Amber Carlson to help Professional Hospitality
pay its outstanding U.S. Trustee fees and to meet its seasonal
start-up costs for 2020.  Professional Hospitality currently owes
the U.S. Trustee for third quarter 2019 fees in the amount of
$5,378.29 and will owe at least $325 for fourth quarter 2019.  The
balance of the loan proceeds will be used during March, April and
May, 2020 to meet ordinary and customary start-up costs and
operating costs including rent, real property taxes, electric and
gas deposits, inventory, expenses to de-winterize the building and
start-up payroll to non-insiders.  

The DIP loan will be payable in full prior to July 31, 2020, with
advances to be made solely at Mrs. Carlson's discretion, with
interest payable at the rate of 10% per annum.  

Mrs. Carlson is not an owner of either of the Debtors, but is
married to the Debtors' sole member, Andrew C. Carlson.

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

                  About Great Food Great Fun and
                      Professional Hospitality

Great Food Great Fun LLC is a New York corporation which is doing
business as "Wing City Grille" and which operates a restaurant in
Fredonia, New York.  Professional  Hospitality, LLC, is a New York
corporation which is doing business as "Village Casino Restaurant"
and which operates a restaurant and banquet facilities on the
waterfront in Bemus Point, New York.  The Village Casino Restaurant
is seasonal, generally operating only between May 1 and Sept. 30
each year.  Great Food and Professional Hospitality are single
member limited liability corporations owned by Andrew C. Carlson,
an individual who is not in bankruptcy.  

Great Food Great Fun and Professional Hospitality sought Chapter 11
protection (Bankr. W.D.N.Y. Case Nos. 17-11557 and 17-11558,
respectively) on July 24, 2017.  Judge Carl L. Bucki oversees the
Debtors' jointly administered cases.  Andreozzi Bluestein LLP
serves as counsel to the Debtors.



GREEN PHARMACEUTICALS: Unsecureds to Recover 1.5% in Plan
---------------------------------------------------------
Green Pharmaceuticals, Inc., filed a Second Amended Chapter 11 Plan
to further fine-tune the terms of the Plan.

As to administrative claims, The Fox Law Corporation amount is now
estimated to be owed $100,000, instead of $50,000 in the prior
iteration.

Under the Plan, holders of Class 3 General Unsecured Claims
totaling $3,700,991 (as scheduled) or $3,922,991 (reconciled
amount) will receive $1,000 per month during month 7 to month 60 of
the Plan.  Total payout is $54,000, resulting to a 1.50% of claims
scheduled or 1.38% of reconciled claims.

A full-text copy of the Second Amended Chapter 11 Plan dated Jan.
20, 2020, is available at https://tinyurl.com/qwox23n from
PacerMonitor.com at no charge.

Attorneys for the Debtor:

     THE FOX LAW CORPORATION, INC.
     Steven R. Fox, SBN 138808
     W. Sloan Youkstetter, SBN 296681
     17835 Ventura Blvd., Suite 306
     Encino, CA 91316
     Tel: (818) 774-3545
     Fax: (818) 774-3707
     E-mail: srfox@foxlaw.com

                 About Green Pharmaceuticals

Green Pharmaceuticals, Inc. -- https://www.snorestop.com/ -- is a
privately held company in Camarillo, California offering its
flagship brand SnoreStop, an easy-to-use sprays and tablets that
help people to experience a good night's sleep.  SnoreStop the only
medically proven over-the-counter natural solution to snoring that
is not a device.

Green Pharmaceuticals, based in Camarillo, CA, filed a Chapter 11
petition (Bankr. C.D. Cal. Case No. 18-12087) on Dec. 19, 2018.  In
the petition signed by Dominique De Rivel, president and CEO, the
Debtor disclosed $380,735 in assets and $3,951,007 in liabilities.
The Hon. Deborah J. Saltzman oversees the case.  Steven R. Fox,
Esq., at The Fox Law Corporation, Inc., serves as bankruptcy
counsel.


GROW INC: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------
Debtor: Grow, Inc.
        973 16th St. SE
        Naples, FL 34117

Business Description: Grow, Inc. is a privately held company
                      whose principal assets are located at
                      813 Lake McGregor Drive Fort Myers, FL
                      33919.

Chapter 11 Petition Date: February 3, 2020

Court: United States Bankruptcy Court
       Middle District of Florida

Case No.: 20-00959

Debtor's Counsel: Michael A. Nardella, Esq.
                  NARDELLA & NARDELLA, PLLC
                  135 W. Central Blvd.
                  Suite 300
                  Orlando, FL 32801
                  Tel: 407-966-2680
                  E-mail: mnardella@nardellalaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Jeff Kaulbars, president.

A copy of the petition containing, among other items, a list of the
Debtor's 20 largest unsecured creditors is available for free at
PacerMonitor.com at:

                    https://is.gd/1a7bpg


HARB PROPERTIES: Citizen Bank Objects to Disclosure Statement
-------------------------------------------------------------
Secured creditor Citizens Bank objects to the Disclosure Statement
and Plan of Reorganization of Harb Properties, LLC.

Citizen points out that the Debtor's Disclosure Statement and Plan
lack sufficient information as to the most important aspect of its
business operations and estate assets.

Citizen further points out that the Debtor's Disclosure Statement
and Plan is both inconsistent and contradictory in its
classification of claims and their treatment, again denying
creditors the opportunity for an informed and reasoned decision as
to the feasibility and compliance with the requirements for
confirmation.

Citizen complains that the Debtor's Disclosure Statement provides
no valuation of the estate assets, no market value appraisals, no
income approach analysis of value, in fact, no evaluation at all in
support of its proposed treatment.

According to Citizen, in a continuation of the confusing and
contradictory terms of the Disclosure Statement and Plan, the
treatment of the Citizens' claim as secured defines no value for
the property, appears to bifurcate the claim, yet categorizes the
treatment as unimpaired.

Counsel of Citizen Bank:

     Roger A. Goranson
     GORANSON, PARKER & BELLA CO, LPA
     405 Madison Ave., Suite 2200
     Toledo, Ohio 43604
     Tel: (419) 244-9500
     Fax: (419) 244-9510
     E-mail: rgoranson@gpblaw.com

                     About Harb Properties

Harb Properties, LLC, owns, maintains, and rents investment
residential real estate.  The company was founded by John and Elham
Harb.

Harb Properties, LLC, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Ohio Case No. 18-10436) on Jan. 26,
2018.  Judge Jessica E. Price Smith oversees the case.

Harb Properties' case is consolidated with the case of John and
Elham Harb (Case No. 18-17112).


HARDEN FARMS: Unsecureds Owed $594K to Get $10K Over 5 Years
------------------------------------------------------------
Harden Farms, Inc., filed a A Plan of Reorganization and a
Disclosure Statement.

Through the Plan, the Debtor proposes to restructure certain debts
secured by personal property, which it intends to retain and
utilize in its operations, and pay such secured debts from the
funds generated from its continued operations.  The Liquidation
Analysis prepared by the Debtor shows that unsecured creditors
would receive nothing in a hypothetical Chapter 7 liquidation, and
actually shows that such liquidation would be implausible as the
projected return is ($19,530.99).  In spite of the Liquidation
Analysis requiring no payment to unsecured creditors, the Debtor's
Plan proposes to pay unsecured creditors a total of $10,000 over
five years in annual installments of $2,000.

Class 12 consists of all Allowed, Undisputed, Non-contingent,
Unsecured Claims listed in Schedule F by the Debtor or as otherwise
approved by the Court, and any Deficiency Claims known to the
Debtor at the time of the filing of this Plan.  Total General
Unsecured Claims and known or projected Deficiency Claims that fall
within this Class, equal $594,183.

The Debtor will pay the holders of allowed claims in this Class the
aggregate sum of $10,000 (the "Total Unsecured Dividend"), in five
equal, annual installment payments of $2,000.  The first payment
will be due on Jan. 31, 2021 and subsequent payments will be due on
the 31st day of January of each successive year.  Each annual
payment made to this Class will be distributed pro rata.  The
Debtor, at its election, may execute a Promissory Note in favor of
this Class, in an amount equal to the Total Unsecured Dividend to
be paid hereunder.

The Debtor may also investigate and pursue avoidance actions
pursuant to Sec. 547  and 548.  Any funds collected through such
actions, and preserved for the benefit of the estate, will be
distributed in accordance with the priorities established  by the
Bankruptcy Code and Orders of the Court.  

A full-text copy of the Disclosure Statement dated Jan. 20, 2020,
is available at https://tinyurl.com/t8tje47 from PacerMonitor.com
at no charge.

Counsel for Debtor Harden Farms:

     Blake Y. Boyotte
     STUBBS & PERDUE, P.A
     9208 Falls of Neuse Road, Suite 201
     Raleigh, NC 27615
     Tel: (919) 870-6258
     Tel: (919) 870-6259
     E-mail: bboyette@stubbsperdue.com

                      About Harden Farms

Harden Farms, Inc., is a privately held company in the crop farming
industry.

Harden Farms sought Chapter 11 protection (Bankr. E.D.N.C. Case No.
19-02379) on May 24, 2019.  In the petition signed by Charles M.
Harden, president, the Debtor disclosed $1,333,936 in assets and
$1,720,421 in liabilities as of the bankruptcy filing.  The Hon.
Stephani W. Humrickhouse is the case judge.  STUBBS & PERDUE, P.A.,
led by Trawick H. Stubbs, Jr., Esq., is serving as the Debtor's
counsel.


HARRAH WHITES: Unsec. Creditors to Get 100% Plus Interest in Plan
-----------------------------------------------------------------
Debtor Harrah Whites Meadows Nursing, LLC, filed with the U.S.
Bankruptcy Court for the Northern District of Georgia, Atlanta
Division, a plan of reorganization and a disclosure statement.

Class 2A consists of Convenience Claims, i.e. the claims held by
unsecured creditors that are in an amount up to $1,000 and any
unsecured claims held by unsecured creditors that elect on the
ballot to reduce their claim to $1,000 to be treated as a Class 2A
claimant.  Holders of Allowed Convenience Claims will receive
payment in full in Cash on account of each holder's Allowed
Convenience Claim on or before the Effective Date.

Holders of Allowed Unsecured Claims in Class 2B will receive
payments in cash in an amount equal to 100% percent of each
holder's allowed unsecured claim plus interest accruing at the rate
of 5.0% APR payable in quarterly payments beginning the first
Business Day of the month 30 days following the Effective Date
until the earlier of five years after the Effective Date, or until
the Allowed Unsecured Claims are paid in full plus interest at the
rate of 5.0% APR.

Equity Interest holders -- Christopher F. Brogdon and Connie B.
Brogdon -- will retain their interests in the Debtor as such
interests existed as of the Petition 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:

  * any and all remaining Cash retained by the Reorganized Debtor
after the Effective Date; and

  * cash generated from the post-Effective Date operations of the
Reorganized Debtor; and

  * 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 Jan. 14, 2020,
is available at https://tinyurl.com/r6l3foe from PacerMonitor.com
at no charge.

The Debtor is represented by:

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

              About Harrah Whites Meadows Nursing

Harrah Whites Meadows Nursing LLC owns and operates a skilled
nursing facility in Harrah, Okla.

Harrah Whites Meadows Nursing LLC filed its voluntary petition
initiating this Chapter 11 case (Bankr. N.D. Ga. Case No. 19-65376)
on Sept. 27, 2019. In the petition signed by Chistopher F. Brogdon,
manager, the Debtor estimated $100,000 to $500,000 in assets and $1
million to $10 million in liabilities. The Debtor hired Theodore N.
Stapleton P.C. as its legal counsel.  

The case has been assigned to Judge Barbara Ellis-Monro.  

Nancy J. Gargula, U.S. trustee for Region 21, appointed Tony
Fullbright to serve as patient care ombudsman in the Debtor's case.


HENLEY PROPERTIES: Feb. 27 Hearing on Disclosure Statement Set
--------------------------------------------------------------
Judge Brian T. Fenimore has ordered that on Feb. 27, 2020 at 11:00
a.m. is fixed for the hearing on final approval of the Courts
determination that a disclosure statement is not necessary,
confirmation of the plan and related matters at Barton County
Courthouse, Courtroom 205, 4001 Gulf, Lamar, MO 64759.

Feb. 21, 2020 is the deadline for:

   A. Filing with the Court objections to the determination that no
disclosure statement is necessary, or plan confirmation; and

   B. Submitting to counsel for plan proponent ballots accepting or
rejecting the plan

Feb. 24, 2020 is the deadline for the Ballot Reports to be
submitted.

                  About Henley Properties

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

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


HERITAGE COLORADO: Case Summary & 2 Unsecured Creditors
-------------------------------------------------------
Debtor: Heritage Colorado LLC
        2392 Morse Avenue
        Irvine, CA 92614

Chapter 11 Petition Date: February 1, 2020

Court: United States Bankruptcy Court
       Central District of California

Case No.: 20-10373

Judge: Hon. Erithe A. Smith

Debtor's Counsel: Robert P. Goe, Esq.
                  GOE FORSYTE & HODGES LLP
                  18101 Von Karman Avenue
                  Suite 1200
                  Irvine, CA 92612-7127
                  Tel: (949) 798-2460
                  Email: rgoe@goeforlaw.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $10 million to $50 million

The petition was signed by Bruce Elieff, manager.

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

                    https://is.gd/ZU4tq9


HERMANI HOTELS: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Hermani Hotels, L.L.C.
        4700 Street Road
        Feasterville Trevose, PA 19053

Business Description: Hermani Hotels, L.L.C. is a privately held
                      company that operates in the hotels and
                      motels industry.

Chapter 11 Petition Date: February 3, 2020

Court: United States Bankruptcy Court
       Eastern District of Pennsylvania

Case No.: 20-10701

Judge: Hon. Ashely M. Chan

Debtor's
General
Bankruptcy
Counsel:          Holly S. Miller, Esq.
                  GELLERT SCALI BUSENKELL & BROWN, LLC
                  8 Penn Center
                  1628 JFK Blvd., Ste. 1901
                  Philadelphia, PA 19103
                  Tel: 215-238-0012
                  Email: hsmiller@gsbblaw.com

Estimated Assets: $10 million to $50 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by Mayur Khatiwala, managing director.

A copy of the petition is available at PacerMonitor.com at
https://is.gd/4t0Miz at no extra charge.

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim    Claim Amount
   ------                          ---------------    ------------
1. American Hotel Register                                 $28,851
100 S. Milwaukee Ave.
Vernon Hills, IL 60061

2. Aqua Water                                              $15,136
Aqua Pennsylvania
762 W. Lancaster Ave.
Bryn Mawr, PA19010

3. Ascentium Capital, L.L.C.                               $28,793
P.O. Box 301593
Dallas, TX 75303-1593

4. Ballantyne Networks                                     $10,936
341 Cheryl Drive
Toms River, NJ 08753

5. Bensalem Township Treasurer      School Real           $530,188
Ray Wall, Treasurer                  Estate Tax
3750 Hulmeville Rd.
Bensalem, PA 19020

6. Bensalem Township Treasurer    County and Real         $146,357
Attn: Ray Wall, Treasurer            Estate Tax
3750 Hulmeville Rd.
Bensalem, PA 19020

7. Better Pool Mgmt                                        $15,000
13044 Buselton Ave. #4
Philadelphia, PA 19116

8. Bucks County Treasurer                                 $266,497
Kristian Ballerini
55 East Court St.
5th Floor
Doylestown, PA 18901

9. Bucks County Water and Sewer                           $209,457
Association
P.O. Box 3895
Lancaster, PA 17604

10. Delage Langdon Advanced                                $10,618

Recovery Systems
P.O. Box 80766
Valley Forge, PA 19484

11. Internal Revenue Service                              $308,000
100 Dey Place
Edison, NJ 0881

12. Itria Ventures                                        $170,000
Biz 2 Credit
1 Penn Plaza
New York, NY 10019

13. Oliver Mechanical                                      $18,730
101 Waverly Ave
Morton, PA 19070

14. Oracle America, Inc.                                   $22,386
500 Oracle Pkwy
Redwood City, CA94065

15. PA Dept of Revenue                                    $322,473
3420 Red Lion Rd.
Philadelphia, PA 19114

16. Peco Electric                                          $48,618
2301 Market St.
S10-1
Philadelphia, PA 19103

17. Philadelphia Federal                                $1,283,800
Credit Union
12800 Townsend Rd.
Philadelphia, PA 19154

18. Thyssenkrupp Elevator Corp.                            $15,478
P.O. Box 3796
Carol Stream, IL 60132

19. Valuable Technolgies, Inc.                             $56,964
440 Sylvan Ave. Ste. 170
Englewood Cliffs, NJ 07632

20. Wyndahm Franchisor, LLC                               $249,147
16574 Collections Center
Chicago, IL 60693


HUDSON TECHNOLOGIES: Calm Waters Has 7.6% Stake as of Dec. 31
-------------------------------------------------------------
Calm Waters Partnership disclosed in an amended Schedule 13G filed
with the Securities and Exchange Commission that as of Dec. 31,
2019, it beneficially owns 3,227,572 shares of common stock of
Hudson Technologies, Inc., which represents 7.6 percent of the
shares outstanding.  Richard S. Strong also reported beneficial
ownership of 3,404,572 Common Shares.  A full-text copy of the
regulatory filing is available for free at the SEC's website at:

                       https://is.gd/nKtbff

                     About Hudson Technologies

Hudson Technologies, Inc. -- http://www.hudsontech.com/-- is a
provider of innovative and sustainable solutions for optimizing
performance and enhancing reliability of commercial and industrial
chiller plants and refrigeration systems.  Hudson's proprietary
RefrigerantSide Services increase operating efficiency, provide
energy and cost savings, reduce greenhouse gas emissions and the
plant's carbon footprint while enhancing system life and
reliability of operations at the same time. RefrigerantSide
Services can be performed at a customer's site as an integral part
of an effective scheduled maintenance program or in response to
emergencies.  Hudson also offers SMARTenergy OPS, which is a
cloud-based Managed Software as a Service for continuous
monitoring, Fault Detection and Diagnostics and real-time
optimization of chilled water plants.  In addition, the Company
sells refrigerants and provides traditional reclamation services
for commercial and industrial air conditioning and refrigeration
uses.

Hudson Technologies reported a net loss of $55.66 million in 2018.
As of Sept. 30, 2019, the Company had $204.21 million in total
assets, $149.25 million in total liabilities, and $54.95 million in
total stockholders' equity.

As disclosed in the Company's Form 10-Q for the quarter ended Sept.
30, 2019, "The Company's ability to continue as a going concern is
contingent upon its ability to comply with the financial covenants
within its credit agreements.  The Company's level of indebtedness
has adversely impacted, and continues to adversely impact, the
Company's financial condition, including operating results and
liquidity position.  As of June 30, 2019 and September 30, 2019,
the Company was not in compliance with the financial covenants in
the Term Loan Facility and the PNC Facility, thus raising
substantial doubt as to the ability to continue as a going concern
within one year after the date the financial statements were
issued.  The Company has satisfied all of its debt payment
obligations on a timely basis and had over $14 million of cash on
hand and $23 million of availability pursuant to the borrowing base
formula in the PNC Facility as of September 30, 2019; and is
working with its lenders to obtain a waiver and amendment of its
credit facilities.  However, there can be no assurance that the
Company will be able to conclude any such waivers or amendments on
acceptable terms or at all."


HUDSON TECHNOLOGIES: Has Until July 27 to Regain Nasdaq Compliance
------------------------------------------------------------------
Hudson Technologies, Inc. received on Jan. 30, 2020, notice from
The Nasdaq Stock Market LLC indicating that, while the Company has
not regained compliance with the minimum bid price requirement, the
staff of Nasdaq has determined that the Company is eligible for an
additional 180-day period, or until July 27, 2020, to regain
compliance.  The Staff's determination was based on (i) the Company
meeting the continued listing requirement for market value of its
publicly held shares and all other applicable initial listing
standards for the Nasdaq Capital Market, with the exception of the
bid price requirement, and (ii) the Company providing written
notice to Nasdaq of its intent to cure the deficiency during this
second compliance period by effecting a reverse stock split, if
necessary.  If at any time during this second, 180-day period the
closing bid price of the Company's Common Stock is at least $1.00
per share for at least a minimum of 10 consecutive business days,
the Staff will provide written confirmation of compliance.  If
compliance cannot be demonstrated by July 27, 2020, Nasdaq will
provide written notification to the Company that its Common Stock
will be subject to delisting.  At that time, the Company may appeal
the delisting determination to a Nasdaq hearings panel.  There can
be no assurance that the Company will regain compliance with the
Rule or maintain compliance with other Nasdaq continued listing
requirements.

On Aug. 1, 2019, Hudson Technologies received a letter from  Nasdaq
indicating that, based upon the closing bid price of the Company's
common stock for the prior 30 consecutive business days, the
Company no longer met the requirement to maintain a minimum bid
price of at least $1.00 per share, as set forth in Nasdaq Listing
Rule 5550(a)(2).  The Company was provided a period of 180 calendar
days, or until Jan. 28, 2020, in which to regain compliance with
the minimum bid price requirement.

                     About Hudson Technologies

Hudson Technologies, Inc. -- http://www.hudsontech.com/-- is a
provider of innovative and sustainable solutions for optimizing
performance and enhancing reliability of commercial and industrial
chiller plants and refrigeration systems.  Hudson's proprietary
RefrigerantSide Services increase operating efficiency, provide
energy and cost savings, reduce greenhouse gas emissions and the
plant's carbon footprint while enhancing system life and
reliability of operations at the same time. RefrigerantSide
Services can be performed at a customer's site as an integral part
of an effective scheduled maintenance program or in response to
emergencies.  Hudson also offers SMARTenergy OPS, which is a
cloud-based Managed Software as a Service for continuous
monitoring, Fault Detection and Diagnostics and real-time
optimization of chilled water plants.  In addition, the Company
sells refrigerants and provides traditional reclamation services
for commercial and industrial air conditioning and refrigeration
uses.

Hudson Technologies reported a net loss of $55.66 million in 2018.
As of Sept. 30, 2019, the Company had $204.21 million in total
assets, $149.25 million in total liabilities, and $54.95 million in
total stockholders' equity.

As disclosed in the Company's Form 10-Q for the quarter ended Sept.
30, 2019, "The Company's ability to continue as a going concern is
contingent upon its ability to comply with the financial covenants
within its credit agreements.  The Company's level of indebtedness
has adversely impacted, and continues to adversely impact, the
Company's financial condition, including operating results and
liquidity position.  As of June 30, 2019 and September 30, 2019,
the Company was not in compliance with the financial covenants in
the Term Loan Facility and the PNC Facility, thus raising
substantial doubt as to the ability to continue as a going concern
within one year after the date the financial statements were
issued.  The Company has satisfied all of its debt payment
obligations on a timely basis and had over $14 million of cash on
hand and $23 million of availability pursuant to the borrowing base
formula in the PNC Facility as of September 30, 2019; and is
working with its lenders to obtain a waiver and amendment of its
credit facilities.  However, there can be no assurance that the
Company will be able to conclude any such waivers or amendments on
acceptable terms or at all."


INMAR INC: Moody's Affirms B2 CFR & Alters Outlook to Negative
--------------------------------------------------------------
Moody's Investors Service changed the outlook on Inmar, Inc. to
negative from stable. At the same time, Moody's affirmed the
company's B2 corporate family rating and B2-PD probability of
default rating, and the B1 and Caa1 ratings for the first lien
credit and second lien credit facilities, respectfully. The change
in outlook to negative largely reflects the weakening of the
company's credit metrics and liquidity as a result of lower than
expected revenue, profitability, and cash flow generation following
the acquisition of You Technology, LLC in early 2019.

According to Moody's Analyst Andrew MacDonald, "Inmar's recent
performance has been challenged by weak organic revenue growth and
a modest decline in EBITDA following the acquisition of YouTech
that has left credit metrics sustained at levels that are weak for
the rating. While Moody's anticipates some improvement in the near
to intermediate term, Inmar needs to reduce leverage and build
liquidity to satisfy projected cash flow commitments beginning in
2021 and extending through 5 fiscal periods."

Outlook Actions:

Issuer: Inmar, Inc.

Outlook, Changed to Negative from Stable

Affirmations:

Issuer: Inmar, Inc.

Probability of Default Rating, Affirmed B2-PD

Corporate Family Rating, Affirmed B2

Senior Secured 1st Lien Bank Credit Facility, Affirmed B1 (LGD3)

Senior Secured 2nd Lien Bank Credit Facility, Affirmed Caa1 (LGD6)

RATINGS RATIONALE

Inmar's B2 CFR reflects its high financial leverage (Moody's
adjusted debt-to-EBITDA) of approximately 6.7x for the twelve
months ended 30 September 2019. Including capitalized software
costs and preferred PIK shares, financial leverage would be 8x, an
aggressive acquisition growth strategy that relies heavily on
borrowings. The CFR also reflects a small revenue base, but
includes an expectation for moderate deleveraging over the next 12
to 18 months and supports the ratings affirmation. Longer term,
Moody's expectation for free cash flow is muted by scheduled
contractual commitments that may increase the likelihood of
reliance on future borrowings to meet liquidity needs. The rating
is supported by the company's competitive position in core markets
with good profit margins. Additionally, while the company has
revenue concentration among top customers, customers are fairly
diversified across end markets that include CPG manufacturers,
retailers, hospitals, and pharmacies. The YouTech acquisition
brought in a new strategic relationship with Kroger and has
expanded Inmar's digital coupon services, further diversifying
revenue outside of its paper coupon services. In addition, the
acquisition cements Inmar's strategic relationship with Kroger via
a long-term services agreement and will build its relationships
with other supermarket customers. A larger digital coupon service
business is important to offset downward pressures on paper coupon
volumes. However, business risks remain as the digital landscape
continues to evolve and as organic revenue has contracted in the
promotions segment due to lower CPG customer spending. The
company's healthcare segment provides a degree of stability to the
overall business due to the much less discretionary nature of
customer spending. In addition, Inmar has a large customer base
numbering in the thousands supported by its established
technological and physical infrastructure in which it has made
substantial investments.

As an intermediary with access to large amounts of private consumer
and business transaction data, Inmar has moderate exposure to
social risk. Moody's considers financial strategies as a governance
risk given the company's private equity ownership and evidenced by
an acquisitive growth strategy that relies heavily on debt. The
company does not exhibit material or unusual environmental risks.

The negative outlook reflects the risk that Inmar will unable to
improve its liquidity by increasing free cash flow generation and
availability under its $75 million revolving credit facility in
concert with a reduction in its high financial leverage over the
next 12 months. The outlook could be changed to stable if the
company is expected to sustain leverage below 6xwhile demonstrating
good free cash flow and improving its total available liquidity.

Moody's expects that Inmar will maintain adequate liquidity over
the next twelve months supported by positive free cash flow and
availability on its $75 million revolver due 2022.

Inmar's senior secured first lien revolver due 2022 and first lien
term loans due 2024 are rated B1, one notch above the CFR,
reflecting their priority liens relative to the second lien term
loan due 2025 which is rated Caa1, two notches below the CFR.

Factors that could lead to an upgrade include debt/EBITDA under 4x
and financial policies supportive of leverage sustained at these
levels; organic revenue growth across business segments; and free
cash flow to debt approaching the high single digits.

Factors that could lead to a downgrade include debt/EBITDA
sustained over 6x; EBITA/interest below 1.75x; declines in revenue;
loss of a key customer; or weakening liquidity.

The principal methodology used in these ratings was Business and
Consumer Service Industry published in October 2016.

Inmar, headquartered in Winston-Salem, North Carolina, is a
technology-enabled provider of services including paper coupon and
digital promotion settlement for CPG manufacturers, pharmacy
receivables and returns management, and supply chain reverse
logistics. The company is majority-owned by OMERS Private Equity
with stakes also held by ABRY Partners and Inmar management.



INNERSCOPE HEARING: Increases Authorized Capital Stock to 15 Bil.
-----------------------------------------------------------------
Innerscope Hearing technologies, Inc., on Jan. 30, 2020, filed an
Amended and Restated Articles of Incorporation with the Nevada
Secretary of State, pursuant to which the Company increased the
authorized shares of capital stock of the Company to
15,000,000,000, consisting of 14,975,000,000 shares of common
stock, par value $0.0001, and 25,000,000 shares of preferred stock,
par value $0.0001, with the Preferred Stock issuable in such
series, and with such designations, rights and preferences, as the
Board of Directors may determine from time to time.
  
                      About Innerscope Hearing

Based in Roseville, California, InnerScope Hearing Technologies,
Inc. -- www.innd.com -- offers a business to business SaaS based
Patient Management System software program, designed to improve
operations and communication with patients.  InnerScope also offers
a Buying Group experience for audiology practice, enabling owners
to lower product costs and increase their margins.  The Company
will compete in the DTC (Direct-to-Consumer) markets with its own
line of "Hearables", and "Wearables", including APPs on the iOS and
Android markets.  The company also has opened 5 retail hearing
device clinics and plans on using management's unique and
successful talents on acquiring and opening additional audiological
brick and mortar clinics to be owned and operated by the company.

As of Sept. 30, 2019, the Company had $4.22 million in total
assets, $8.20 million in total liabilities, and a total
stockholders' deficit of $3.98 million.

D. Brooks and Associates CPA's, P.A., in Palm Beach Gardens,
Florida, the Company's auditor since 2015, issued a "going concern"
qualification in its report dated April 16, 2019, citing that the
Company has incurred a net loss of $4,585,117 for the year ended
Dec. 31, 2018.  Additionally, the Company has a working capital
deficit of $3,088,957 and an accumulated deficit of $6,372,129 as
of Dec. 31, 2018.  These and other factors raise substantial doubt
about the Company's ability to continue as a going concern.


JANETTE COCKRUM: Mead Buying Mountain Home Property for $100K
-------------------------------------------------------------
Janette Marie Cockrum asks the U.S. Bankruptcy Court for the
Western District of Arkansas to authorize the sale of the real
property located at 642 Tracy Ferry Road, Mountain Home, Arkansas
to Aaron Mead for $100,000.

Objections, if any, must be filed within 21 days from the date the
Motion is served.

At the time of filing the Petition, the Debtor owned property.
Baxter County, Arkansas has a first priority lien in the
approximate amount of $3,382 for property taxes.  FNBC Bank has a
second priority lien on the property in the approximate amount of
$315,691 pursuant to a modification of mortgage filed for record in
the office of the Circuit Clerk of Baxter County, Arkansas on Aug.
29, 2016 as instrument number L201607404.

The Debtor has conditionally accepted an offer to purchase 10 acres
and a house located on the subject property from the Buyer for
$100,000 pursuant to a Real Estate Contract.

The Internal Revenue Service may claim an interest in the property
pursuant to federal tax liens in the amount of $220,315 filed in
Baxter County, Arkansas.  The Internal Revenue Service has amended
its claim to show it is unsecured and the sale will be free and
clear of any liens of the Internal Revenue Service.

The Debtor proposes that proceeds of the sale of the property after
payment of real estate commissions, closing fees and costs be paid
first to Baxter County, Arkansas and then to FNBC as their
interests may appear.  She believes all parties interested in the
estate will benefit from the relief requested.

The sale will be made free and clear of liens and other
encumbrances.

A copy of the Contract is available at https://tinyurl.com/wdwmhpy
from PacerMonitor.com free of charge.

Janette Marie Cockrum sought Chapter 11 protection (Bankr. W.D.
Ark. Case No. 18-73275) on Dec. 11, 2018.  The Debtor tapped David
G. Nixon, Esq., at Nixon Law Firm as counsel.



JDFIU HOGAN: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: JDFIU Hogan Building, LLC
        2263 Valdina Street, Suite 100
        Dallas, TX 75207

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

Chapter 11 Petition Date: February 3, 2020

Court: United States Bankruptcy Court
       Northern District of Texas

Case No.: 20-30385

Debtor's Counsel: Howard Marc Spector, Esq.
                  SPECTOR & COX, PLLC
                  12770 Coit Road
                  Suite 1100
                  Dallas, TX 75251
                  Tel: (214) 365-5377
                  E-mail: hms7@cornell.edu

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Bryan Korba, manager.

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

                      https://is.gd/pbu6sP


JOHN S. WON: March 17, 2020 Plan Confirmation Hearing Set
---------------------------------------------------------
On Jan. 13, 2020, debtor John S. Won MD PA filed with the U.S.
Bankruptcy Court for the Eastern District of North Carolina,
Raleigh Division, an amended disclosure statement and an amended
plan.

On Jan. 14, 2020, Judge David M. Warren conditionally approved the
disclosure statement and established the following dates and
deadlines:

  * March 10, 2020, is fixed as the last day for filing and serving
in accordance with Rule 3017(a), Federal Rules of Bankruptcy
Procedure, written objections to the disclosure statement.

  * March 17, 2020, 02:00 PM, at 300 Fayetteville Street, 3rd Floor
Courtroom, Raleigh, NC 27602 is the hearing on confirmation of the
plan.

  * March 10, 2020, is fixed as the last day for filing written
acceptances or rejections of the plan.

  * March 10, 2020, is fixed as the last day for filing and serving
written objections to confirmation of the plan pursuant to Rule
3020(b)(1) of the Federal Rules of Bankruptcy Procedure.

A full-text copy of the order dated Jan. 14, 2020, is available at
https://tinyurl.com/twr9625 from  PacerMonitor.com at no charge.

John S. Won MD PA, filed a voluntary Chapter 11 Petition (Bankr.
E.D.N.C. Case No. 19-01719) on April 16, 2019, and is represented
by George F. Sanderson, Esq., at The Sanderson Law Firm, PLLC.


KNB HOLDINGS: Moody's Lowers CFR to Caa1, Outlook Negative
----------------------------------------------------------
Moody's Investors Service downgraded KNB Holdings Corporation's
Corporate Family Rating to Caa1 from B2 and the Probability of
Default Rating to Caa1-PD from B2-PD. Moody's also downgraded the
rating on the senior secured first lien term loan to Caa1 from B1.
The rating outlook is negative.

The downgrades reflect KNB's unsustainable capital structure and
weak liquidity. KNB has experienced a material decline in operating
performance due to significant tariffs on its imports and inventory
reductions by its' key customers. These operating headwinds have
significantly weakened liquidity and resulted in very high
financial leverage of over 9x debt/EBITDA for the twelve-month
period ending September 28, 2019. Moody's expects price increases
and sourcing changes to stabilize EBITDA in 2020, but a more
material operational turnaround is necessary to reduce leverage to
a sustainable level and improve liquidity. Executing a turnaround
will be challenging because industry competition remains intense
and tariffs have not been rolled back. Moody's expects the
company's liquidity to remain very constrained and financial
leverage to remain high over the next 12 -- 18 months. Moreover,
the downgrade reflects heightened potential for a distressed
exchange to help alleviate the strains from high leverage.

Moody's took the following rating actions on KNB Holdings
Corporation:

Ratings downgraded:

Corporate Family Rating to Caa1 from B2

Probability of Default Rating to Caa1-PD from B2-PD

$291 million senior secured first lien term loan due 2024 to
Caa1 (LGD3) from B1 (LGD3)

The outlook is changed to negative from stable.

RATINGS RATIONALE

KNB's Caa1 CFR reflects highly discretionary nature of the
company's products, exposure to economic cycles, very high
financial leverage, weak liquidity, and risks associated with being
owned by a private equity firm. The rating also reflects KNB's
leading market position in the niche home decor product sector and
product diversification which makes its products appealing to
retailers that wish to reduce the number of suppliers.

Moody's views liquidity as weak because projected breakeven to
slightly positive free cash flow is not sufficient to meet the
roughly $7 million of required term loan amortization, and unused
capacity on the $75 million ABL revolver may be constrained by the
springing fixed charge covenant. KNB's $18 million cash balance as
of September 2019 provides some liquidity support.

The negative outlook reflects Moody's expectation that KNB's
capital structure will remain unsustainable and that liquidity will
continue to weaken absent meaningful operational improvement and
debt repayment. KNB's inability to quickly address its operating
performance and deteriorating liquidity may result in further
downgrade.

Ratings could be downgraded if KNB can no longer support its
capital structure, liquidity further deteriorates such as from a
termination of its accounts receivable facility, or if Moody's does
not expect a significant operational improvement in earnings will
reduce leverage. Other factors that could lead to a downgrade
include an increased likelihood of a transaction that Moody's would
consider a default, including a distressed exchange.

Given the company's high financial leverage and weak operating
performance, an upgrade is not likely in the next year. In order to
warrant an upgrade, the company needs to materially improve its
operating performance, strengthen its liquidity position and
materially reduce financial leverage.

In terms of Environmental, Social and Governance considerations,
the most important factor for KNB's credit profile are governance
considerations related to its aggressive financial policies with
respect to acquisitions and use of leverage under financial sponsor
ownership.

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

KNB Holdings Corporation is the indirect parent of Nielsen &
Bainbridge, LLC, based in Austin, Texas. Nielsen & Bainbridge is a
designer and manufacturer of picture framing and presentation
products, portable and hardwired lighting products, wall décor
(framed art, mirrors, clocks, etc.), indoor and outdoor soft goods,
and other home goods. Its products are sold primarily in North
America and to a lesser extent in Europe. The company is owned by
private equity firm Sycamore Partners and does not file public
financial statements. Annual revenue is about $680 million.


L.G. STECK MEMORIAL: Hires Valid8 as Digital Financial Consultant
-----------------------------------------------------------------
L.G. Steck Memorial Clinic, P.C., seeks authority from the U.S.
Bankruptcy Court for the Western District of Washington to employ
Valid8 Financial, Inc., as digital financial consultant to the
Debtor.

L.G. Steck Memorial requires Valid8 to execute a digital review of
its books and records using its proprietary automated verification
and investigative procedures, essentially software designed for
auditors and other financial professionals.

Valid8 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.

Tod McDonald, CFO/COO of Valid8 Financial, 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 Debtor and its estates.

Valid8can be reached at:

     Tod McDonald
     VALID8 FINANCIAL, INC.
     918 S Horton St., Suite 816
     Seattle, WA 98134
     Tel: (206) 920-1144
     E-mail: t.mcdonald@valid8.cash

              About L.G. Steck Memorial Clinic, P.C.

L. G. Steck Memorial Clinic, P.C., is a professional service
corporation that provides health care services.  The Company was
incorporated in 1977 and does business as The Steck Medical Group.

L. G. Steck filed a Chapter 11 petition (Bankr. W.D. Wa. Case No.
19-43334) on Oct. 17, 2019 in Tacoma, Washington. In the petition
signed by Hugo De Oliveira, chief administrative officer, signed
the petition, the Debtor was estimated with assets between $500,000
and $1 million, and liabilities between $1 million and $10 million.
The case is assigned to Judge Mary Jo Heston.  THE TRACY LAW GROUP
PLLC is the Debtor's counsel.


LEE'S FOODSERVICE: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Lee's Foodservice Parts & Repairs, Inc.
           FDBA Howard Equipment Services
           FDBA Lee's Oven Repair
           FDBA Lee's Chemical Solutions
        230 W. Laura Drive
        Addison, IL 60101

Business Description: Founded in 1998, Lee's Foodservice Parts &
                      Repairs, Inc. --
                      https://www.leesfoodservice.com -- provides
                      commercial foodservice and commercial
                      kitchen repair, installation, and
                      maintenance in the Chicago, Milwaukee, and
                      Northwest Indiana areas.  It repairs
                      commercial ovens, fryers, ranges, grills,
                      steamers, kettles, ice machines,
                      refrigerators, freezers, walk-in coolers,
                      and more.  The Company previously sought
                      bankruptcy protection on March 11, 2013
                      (N.D. Ill. Case No. 13-09454).

Chapter 11 Petition Date: February 3, 2020

Court: United States Bankruptcy Court
       Northern District of Illinois

Case No.: 20-03086

Judge: Hon. Lashonda A. Hunt

Debtor's Counsel: Angela M. Snell, Esq.
                  FACTORLAW
                  105 W. Madison St., Suite 1500
                  Chicago, IL 60602
                  Tel: 312-878-6976
                  E-mail: asnell@wfactorlaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Brian Anderson, president.

A copy of the petition containing, among other items, a list of the
Debtor's 20 largest unsecured creditors is available for free at
PacerMonitor.com at:

                    https://is.gd/HvPyW7


LINDLEY FIRE: Main Assets Sold, Proposes Liquidating Plan
---------------------------------------------------------
Lindley Fire Protection Co., Inc., filed a Chapter 11 plan that
provides for a liquidation of the Debtor's assets.

After attempting the "earn out strategy", the Debtor and the
Official Committee of Unsecured Creditors concluded that an
immediate sale of all or substantially all of Debtor's assets was
the best path forward as it would maximize the value of the estate
for the benefit of all creditors.

On Oct. 23, 2019, the Debtor filed its motion authorizing the sale
of substantially all of its property.  After the hearing held on
November 27, 2019, the Court approved the Sale to Expedite Fire,
Inc., of all of substantially all of Debtor’s assets when it
entered the sale order on Dec. 26, 2019.  Of the assets not sold
were the Debtor's accounts receivable and avoidance actions.

Under the Plan, holders of General Unsecured Claims in Class 3 will
each receive a pro rata share of the "liquidation trust
interests".

Class 5 Equity Interests will be deemed without monetary value as a
result of the insolvency of the Debtor, and all Equity Interests
will be cancelled, annulled and extinguished without any further
action.

A hearing on the Disclosure Statement is slated for:

       Date: March 4, 2020
       Time: 10:00 a.m.
       Courtroom: 5D
       United States Bankruptcy Court
       411 West Fourth Street, Santa Ana CA 92701

A full-text copy of the Disclosure Statement dated Jan. 22, 2020,
is available at https://tinyurl.com/qnwl9al from PacerMonitor.com
at no charge.

Attorneys for Lindley Fire Protection Co., Inc.:

     Marc C. Forsythe
     Charity J. Manee
     GOE FORSYTHE & HODGES LLP
     18101 Von Karman Avenue, Suite 1200
     Irvine, CA 92612
     Tel: (949) 798-2460
     Fax: (949) 955-9437
     E-mail: mforsythe@goeforlaw.com
             cmanee@goeforlaw

                 About Lindley Fire Protection

Established in 1986 in Anaheim, California, Lindley Fire Protection
Co., Inc. -- http://www.lindleyfire.com/-- provides fire
protection services and contracts with large industrial warehouses
and facilities.

Lindley Fire Protection performs construction services worldwide
and its personnel have performed work in various locations such as
Western Somoa, Puerto Rico, Texas, Illinois, Nevada, Colorado,
Utah, Montana, Idaho and Mexico.

Lindley Fire Protection sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. C.D. Cal. Case No. 17-10929) on March 12,
2017.  The petition was signed by Leslie L. Lindley, II, president.
At the time of the filing, the Debtor estimated its assets and
debts at $1 million to $10 million.

The case is assigned to Judge Catherine E. Bauer.  

Goe & Forsythe, LLP is the Debtor's bankruptcy counsel.

On March 29, 2017, the Office of the U.S. Trustee appointed an
official committee of unsecured creditors.  The committee retained
Marshack Hays LLP as its legal counsel.

Accurate Business Consulting, Inc., serves as joint financial
advisor to the Debtor and the Committee.


LIZAMA CARRIERS: Hires FisherBroyles as Attorney
------------------------------------------------
Lizama Carriers, LLC, seeks authority from the U.S. Bankruptcy
Court for the Northern District of Texas to employ FisherBroyles,
LLP, as attorney to the Debtor.

Lizama Carriers requires FisherBroyles to:

   (a) provide the Debtor legal advice with respect to their
       duties and powers in a bankruptcy case;

   (b) assist the Debtor in the investigation of its assets,
       liabilities and financial condition, the operation and
       liquidation of its business, and any other matter relevant
       to the case or to the formulation of a plan or plans of
       reorganization or liquidation;

   (c) assist the Debtor in preparing its bankruptcy schedules
       and statement of financial affairs and any other pleading
       or document deemed necessary to be filed;

   (d) assist the debtor in preparing its monthly operating
       reports and otherwise providing timely financial
       disclosure to the Court and creditors;

   (e) assist the Debtor in selling its assets during the
       bankruptcy case;

   (f) advise the Debtor regarding the best course of action with
       respect to certain prepetition claims;

   (g) defend against any actions taken by creditors of the
       Debtor to enforce their rights inside and outside of
       bankruptcy;

   (h) defend against any requested relief from the automatic
       stay against the Debtor or its property;

   (i) challenge the priority, status and amount of any secured
       and unsecured claim, as necessary;

   (j) participate with the Debtor in the formulation of a plan
       or plans of reorganization or liquidation, including if
       necessary, attending and assisting in negotiation
       sessions, discussions and meetings with its creditors;

   (k) assist the Debtor in requesting the appointment of
       professional persons, should such action be necessary;

   (l) represent the Debtor at the meeting of creditors and any
       other necessary hearings, including, but not limited to,
       motions, trials, rejection and acceptance of executor
       contracts hearings, disclosure statement and plan
       confirmation hearings; and

   (m) perform such other legal services as may be required and
       in the best interests of the Debtor, its estates and its
       creditors, including, but not limited to, prosecution and
       defense, if necessary, of appropriate adversary
       proceedings.

FisherBroyles will be paid at these hourly rates:

     Attorneys            $375
     Paralegals           $175

Prior to the filing of the bankruptcy petition on the Petition
Date, the Debtor paid FisherBroyles a retainer of $20,000. Prior to
the commencement of the Bankruptcy Case, the Firm drew down the
retainer, leaving a remaining balance of $2,396.50.

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

Joseph H. Acosta, partner of FisherBroyles, LLP, assured the Court
that the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtor and its estates.

FisherBroyles can be reached at:

     Joseph H. Acosta, Esq.
     FisherBroyles, LLP
     4514 Cole Avenue, Suite 600
     Dallas, TX 75205
     Tel: (214) 614-8939
     Fax: (214) 614-8992
     E-mail: joseph.acosta@fisherbroyles.com

                    About Lizama Carriers

Lizama Carriers, LLC -- https://www.lizamacarriers.com/ -- is a
privately held company in the general freight trucking industry.
Lizama Carriers, based in Irving, TX, filed a Chapter 11 petition
(Bankr. N.D. Tex. Case No. 20-40283) on Jan. 22, 2020.  In the
petition signed by Nelson Lizama, manager, the Debtor disclosed
$3,267,357 in assets and $4,870,039 in liabilities. Joseph H.
Acosta, Esq., at FisherBroyles, LLP, serves as bankruptcy counsel.


MATRA PETROLEUM: Proposes to Sell Ford Truck for $4K Each
---------------------------------------------------------
Matra Petroleum USA, Inc., Matra Petroleum Operating, LLC, Matra
Petroleum Oil & Gas, LLC, and Matra Terra, LLC ask the U.S.
Bankruptcy Court for the Southern District of Texas to authorize
them to sell the 2013 Ford F-150 (1FTFW1EF3DFD67781) for any amount
equal to or greater than $4,000.  

On Dec. 18, 2019, the Debtors filed a Motion to Sell Vehicles Free
and Clear of Liens, Claims and Encumbrances ("Motion").  An order
on the Motion has not been entered.  

Among other things, the Motion asks authority to sell the following
three trucks for any amount above $5,000: (i) 2014 Nissan Frontier
Crew Cab 4 X 2 (1N6BD0CT1EN717064); (ii) 2014 Nissan Frontier
Double Cab 4 X 4 (1N6AD0EV4EN744933); and (iii) 2013 Ford F-150
(1FTFW1EF3DFD67781).

After filing the Motion, the CRO learned that the 2013 Ford F-150
is not running and needs a water pump, starter and alternator.  The
prospective purchaser will need to tow the Ford Truck to a mechanic
and the needed repairs will be costly.  Based on the newly
discovered information, the CRO asks that he be authorized to sell
the Ford Truck for any amount equal to or greater than $4,000.  

The Debtors ask that the Court (i) authorizes the CRO to sell the
Ford Truck for any amount equal to or greater than $4,000, (ii)
grants all other relief requested in the Motion, and (iii) grants
such other and further relief as is just and proper.   

              About Matra Petroleum U.S.A., Inc.

Matra Petroleum USA Inc. and its subsidiaries are Houston-based
independent oil and gas companies focusing on oil and gas
production and development of oil and gas leases in Texas.

On July 31, 2019, Matra Petroleum USA and its subsidiaries sought
Chapter 11 protection (Bankr. S.D. Tex. Lead Case No. 19-34190).

Matra Petroleum USA estimated $10 million to $50 million in assets
and $50 million to $100 million in liabilities.  As of July 1,
2019, the Debtors had combined secured debt in excess of $70
million, secured by liens on substantially all of their assets,
cash and equity.

The Hon. David R. Jones is the case judge.

The Debtors tapped Hoover Slovacek LLP as legal counsel; and Macco
Restructuring Group, LLC as financial advisor; and Buckley & Boots,
LLC as valuation advisor.


MCDERMOTT INT'L: Paul Weiss, et. al Represent Senior Notes Group
----------------------------------------------------------------
In the Chapter 11 cases of McDermott International, Inc., et al.,
the law firm of Paul, Weiss, Rifkind, Wharton & Garrison LLP, Brown
Rudnick LLP and Rapp & Krock, PC submitted a verified statement
under Rule 2019 of the Federal Rules of Bankruptcy Procedure, to
disclose that it is representing Ad Hoc Noteholder Group formed by
holders of the 10.65% senior notes due 2024.

In or around November 2019, the Ad Hoc Noteholder Group engaged
Paul Weiss to represent it in connection with the Members' holdings
of Senior Notes. In or around December, 2019 the Ad Hoc Noteholder
Group engaged Brown Rudnick to represent it in connection with the
Members' holdings of Senior Notes. In January 2020 the Ad Hoc
Noteholder Group engaged Rapp & Krock to represent it in connection
with the Members' holdings of Senior Notes.

As of Jan. 31, 2020, members of the Ad Hoc Noteholder Group and
their disclosable economic interests are:

AWH Opportunity Fund I, LP
3949 Maple Avenue
Dallas, TX 75219

* $4,800,000 in aggregate principal amount of Senior Notes

Blackwood Capital Management, LLC
4 Hemlock Terrace
Kinnelon, NJ 07405

* $6,000,000 in aggregate principal amount of Senior Notes

Caius Capital, LLP
40 New Bond Street
London W1S 2RX
United Kingdom

* $5,000,000 in aggregate principal amount of Senior Notes

Capital Research and Management Company
333 South Hope Street 55th Floor
Los Angeles, CA 90071

* $41,253,626 in aggregate principal amount of loans under the
   2018 Term Loan
* $9,718,219 in aggregate principal amount of loans under the
   Superpriority Term Loan
* $87,530,000 in aggregate principal amount of Senior Notes
* 155,921 shares of Common Stock

CF Partners Capital Management LLP
80 Hammersmith Road
London W14 8UD
United Kingdom

* $42,211,045 in aggregate principal amount of Senior Notes

Devani Family Trust
1999 Avenue of Stars Suite 1100
Los Angeles, CA 90067

* $2,024,000 in aggregate principal amount of Senior Notes

Kingstown Capital Partners, LLC
34 East 51st Street, 5th Floor
New York, NY 10022

* $95,000,000 in aggregate principal amount of Senior Notes

Litespeed Management LLC
745 Fifth Avenue, 6th Floor
New York, NY 10151

* $11,000,000 in aggregate principal amount of loans under the
   2018 Term Loan
* $700,760 in aggregate principal amount of loans under the
   Superpriority Term Loan
* $14,000,000 in aggregate principal amount of Senior Notes

Lodbrok Capital LLP
55 St. James Street
London SW 1A 1LA
United Kingdom

* $9,974,619 in aggregate principal amount of loans under the
   2018 Term Loan
* $51,441,000 in aggregate principal amount of Senior Notes
* $27,800 in option contracts

Loomis Sayles & Company
One Financial Center
Boston, MA 02111

* $51,643,000 in aggregate principal amount of Senior Notes

Luminus Management, LLC
1700 Broadway Twenty-Sixth Floor
New York, NY 10019

* $105,709,000 in aggregate principal amount of Senior Notes

Mason Capital Management
110 East 59th Street, 30th Floor
New York, NY 10022

* $10,000,000 in aggregate principal amount of loans under the
   Revolving Credit Facility
* $79,153,882 in aggregate principal amount of loans under the
   2018 Term Loan
* $185,000,000 in aggregate principal amount of Senior Notes

Newtyn Management
60 East 42nd Street, Suite 960
New York, NY 10165

* Up to $20,000,000 in commitments for future term loan funding
   under the DIP Credit Agreement
* $24,937,500 in aggregate principal amount of loans under the
   2018 Term Loan
* $307,692 in aggregate principal amount of loans under the
   Superpriority Term Loan
* $43,000,000 in aggregate principal amount of Senior Notes

Owl Creek Asset Management LP
640 Fifth Avenue, 20th Floor
New York, NY 10019

* $30,000,000 in aggregate principal amount of Senior Notes

Redwood Capital Management, LLC
910 Sylvan Avenue
Englewood Cliffs, NJ 07632

* $5,000,000 in aggregate principal amount of loans under the
   2018 Term Loan
* $10,000,000 in aggregate principal amount of Senior Notes

Members of the Ad Hoc Noteholder Group, collectively, beneficially
own, manage or control approximately $141,400,000 in aggregate
principal amount of loans under that certain Credit Agreement,
dated as of May 10, 2019, and approximately $10,800,000 in
aggregate principal amount of loans under that certain
Superpriority Senior Secured Credit Agreement dated as of October
21, 2019.

Counsel to the Ad Hoc Noteholder Group can be reached at:

          RAPP & KROCK, PC
          Henry Flores, Esq.
          Kenneth Krock, Esq.
          1980 Post Oak Blvd, Suite 1200
          Houston, TX 77056
          Telephone: (713) 759-9977
          Facsimile: (713) 759-9967
          Email: hflores@rappandkrock.com
                 kkrock@rappandkrock.com

          PAUL, WEISS, RIFKIND, WHARTON & GARRISON LLP
          Andrew N. Rosenberg, Esq.
          Alice B. Eaton, Esq.
          1285 Avenue of the Americas
          New York, NY 10019
          Telephone: (212) 373-3000
          Facsimile: (212) 373-
          Email: arosenberg@paulweiss.com
                 aeaton@paulweiss.com

               - and -

          BROWN RUDNICK LLP
          Robert J. Stark, Esq.
          Bennett S. Silverberg, Esq.
          Seven Times Square, 47th Floor
          New York, NY 10036
          Telephone: (212) 209-4800
          Facsimile: (212) 209-4801
          Email: rstark@brownrudnick.com
                 bsilverberg@brownrudnick.com

A copy of the Rule 2019 filing, downloaded from PacerMonitor.com,
is available at https://is.gd/ff1KLY

                       About McDermott

Headquartered in Houston, Texas, McDermott (NYSE: MDR) --
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.


MCDERMOTT INTERNATIONAL: Proposes Prepackaged Debt-for-Equity Plan
------------------------------------------------------------------
McDermott International, Inc., and its debtor affiliates have
proposed a Joint Prepackaged Chapter 11 Plan of Reorganization.

Pursuant to the Restructuring Support Agreement, the Plan is
currently supported by the Debtors and certain Consenting
Stakeholders that have executed the Restructuring Support
Agreement, including holders of 95% in principal of the 2021 Letter
of Credit Claims, 85% in principal of the 2023 Letter of Credit
Claims, 85% in principal of the Revolving Credit Claims,
approximately 74% in principal of the Term Loan Claims,
approximately [__]% in principal of the Credit Agreement Hedging
Claims, approximately [__]% in principal of the Cash Secured Letter
of Credit Claims, and approximately 67% in principal of the Senior
Notes Claims.

The key terms of which include:

  * an aggregate $2.81 billion debtor in possession financing
package (the "DIP Facility") provided by the Debtors' senior
secured lenders, which includes $1.2 billion in new secured term
loans, $543 million in new letter of credit capacity, and the "roll
up" of the $800 million in superpriority term loans and $200
million in superpriority letters of credit;

  * an agreement by the Debtors' senior secured term lenders to
substantially equitize more than $3 billion in funded debt in
exchange for 94% of the equity in the Reorganized Debtors (subject
to certain adjustments described in the Restructuring Support
Agreement and Plan) and $500 million in take back senior secured
exit term loans (the "Take Back Facility");

  * commitments from the Debtors' letter of credit issuing banks to
(a) allow for the renewal of existing letters of credit (on
existing terms) during these chapter 11 cases, (b) provide the
incremental letter of credit capacity under the DIP Facility, and
(c) provide for an aggregate of up to $2.44 billion in letter of
credit capacity to support the Debtors’ go-forward business on
emergence from chapter 11 under three senior secured exit letter of
credit facilities (collectively, together with the Take Back
Facility, the "Exit Facilities");

  * the sale of the Lummus Technology Business for at least $2.725
billion, as set forth in the stalking horse purchase agreement
entered into by the Debtors and The Chatterjee Group and Rhone
Capital as stalking horse purchaser prior to the Petition Date, the
proceeds of which will be used to (a) fund a minimum $820 million
cash balance to support the Debtors' go-forward business and (b)
repay the funded obligations under the DIP Facility;

  * recovery for unsecured bondholders in form of 6% of the equity
in the Reorganized Debtors (subject to certain adjustments
described in the Restructuring Support Agreement and Plan), the New
Warrants, and the Consenting Noteholders the ability to participate
in the Rights Offering;

  * repayment in full or reinstatement of all unsecured trade
claims;

  * assumption of all project-related executory contracts (in some
instances, as amended pursuant to agreement between the Debtors and
the applicable customers);

  * reinstatement and assumption of unsecured bi-lateral facility
letter of credit obligations and surety obligations;

  * payment in full in cash of all administrative and priority
claims; and

  * cancellation of all existing preferred and common equity
interests.

The projected recoveries under the Plan are:

   Class                               Amount         Recovery
   -----                               ------         --------
5 2021 L/C Claims                      $229 million     100%
6a 2023 L/C Claims                   $1,259 million     100%
6B Revolving Credit Claim              $998 million      84%
6C Term Loan Claims                  $2,229 million      84%
6D Credit Agreement Hedging Claims      $50 million      84%
7 Cash Secured L/C Claims              $305 million     100%
8 Lloyds Letter of Credit Claims       $102 million     100%
9 Senior Notes Claims                $1,402 million      19%
10 General Unsecured Claims               TBD           100%
11 Intercompany Claims                    N/A          0 to 100%
14 Equity Interests in McDermott          N/A             0%

The Debtors and the Reorganized Debtors, as applicable, shall fund
distributions under the Plan with: (1) Cash on hand, including Cash
from operations, the Rights Offering, or the Technology Business
Sale in accordance with the Technology Business Sale Proceeds
Waterfall, as applicable; (2) the New Common Stock; (3) the
proceeds from the Rights Offering, as applicable; (4) the New
Warrants, as applicable; and (5) the proceeds from the Exit
Facilities, as applicable.

A full-text copy of the Disclosure Statement dated January 22,
2020, is available at https://tinyurl.com/shsrsjr from
PacerMonitor.com at no charge.

     Proposed Co-Counsel to the Debtors
     and Debtors in Possession:

     Matthew D. Cavenaugh (TX Bar No. 24062656)
     JACKSON WALKER L.L.P.
     1401 McKinney Street, Suite 1900
     Houston, Texas 77010
     Telephone: (713) 752-4200
     Facsimile: 713) 752-4221
     Email: mcavenaugh@jw.com

     Joshua A. Sussberg, P.C. (pro hac vice pending)
     Christopher T. Greco, P.C. (pro hac vice pending)
     KIRKLAND & ELLIS LLP
     KIRKLAND & ELLIS INTERNATIONAL LLP
     Anthony R. Grossi (pro hac vice pending)
     601 Lexington Avenue
     New York, New York 10022
     Telephone: (212) 446-4800
     Facsimile: (212) 446-4900
     Email: joshua.sussberg@kirkland.com
     christopher.greco@kirkland.com
     anthony.grossi@kirkland.com

     -and-

     James H.M. Sprayregen, P.C.
     John R. Luze (pro hac vice pending)
     300 North LaSalle Street
     Chicago, Illinois 60654
     Telephone: (312) 862-2000
     Facsimile: (312) 862-2200
     Email: james.sprayregen@kirkland.com
     john.luze@kirkland.com

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.


MELINTA THERAPEUTICS: Trustee Selling Two Vessels for $905K
-----------------------------------------------------------
Mark T. Iammartino, the Chapter 11 Trustee of Melinta Therapeutics,
Inc. and affiliates, asks the U.S. Bankruptcy Court for the
District of Delaware to authorize the sale of the following vessels
of Najeeb Ahmed Khan to Michael E. Hosford: (i) a 2010 Sunseeker
Manhattan 60 (with Hull No. ending in 6K910) ("Yacht") for
$865,000, and (ii) a 2018 Williams Jet Tenders 385s Turbojet
("Tender") for $40,000.

As of the Petition Date, the Debtor owned an extensive collection
of cars and boats, including the Vessels, which were moored at
Catawba Island Club, 4235 E. Beach Club Rd., Port Clinton, Ohio
43452.  The Yacht is 60 feet long, and the Tender is a 12-foot,
fiberglass motorized dinghy that the Debtor generally carried
onboard the larger Yacht.

Since the Petition Date, the Chapter 11 Trustee has pulled the
Vessels from the water and placed them in dry storage for safety
and security for the winter.  The Debtor's wife, Nancy Khan, has
asserted a 50% interest in the Vessels, both of which are
encumbered by a lien granted in favor of KeyBank National
Association dated July 19, 2019.

Jefferson Beach Yacht Sales has marketed the Vessels and secured a
buyer willing to purchase them on the terms set forth in the
agreements (Exhibit B for the Yacht) and (Exhibit C for the
Tender).

Those terms include the following:  

     a. Buyer (for both Vessels) - Michael E. Hosford

     b. Yacht Purchase Price: $865,000

     c. Yacht Deposit: $86,500

     d. Tender Purchase Price: $40,000

     e. Tender Deposit: $4,000

     f. Cost of Moving the Vessels: paid by the Buyer

     g. Closing Date: Feb. 21, 2020

The Sale Contracts also contain two provisions to protect the Buyer
in light of the fact that the Buyer cannot fully test and inspect
the Vessels until Spring, when weather permits the Chapter 11
Trustee to get the Vessels out of dry dock and back in the water.

First, upon entry of an order approving the Sale Contracts, the
Buyer will have two weeks to retain a surveyor and conduct
structural surveys of both Vessels.  The Buyer will pay for the
surveys and will have until Feb. 7, 2020 by which to terminate the
Sale Contracts based on the results of the surveys and receive a
refund of the Deposits.  If the Buyer does not terminate the Sale
Contracts on or before the Termination Deadline, then the Buyer
will be bound to close on the sale and remit the remainder of the
Purchase Price (for both Vessels) to the Chapter 11 Trustee.  The
closing for both Sale Contracts will be on Feb. 21, 2020.  

Second, upon receipt of the Yacht Purchase Price, the Chapter 11
Trustee will hold $25,000 of such amount in escrow.  The Buyer has
requested the Escrow because he will not have an opportunity to
conduct a final sea trial for the Yacht until the Spring.  The Sea
Trial will enable the Buyer to identify specific types of
potentially needed repairs that could not have been identified in
the out-of-water survey.  The Buyer must identify any required
repairs in the Post-Closing Repair Categories as soon as the Sea
Trial has been concluded, which in no event may occur after May 1,
2020 without the consent of the Chapter 11 Trustee.

The Escrow will be the Buyer's sole remedy for any such needed
repairs identified during the Sea Trial.  If the Buyer does not
notify the Chapter 11 Trustee of any needed repairs in the
Post-Closing Repair Categories before the Escrow Claim Deadline,
then the Buyer will be deemed to have waived any right to the
Escrow funds, and the Chapter 11 Trustee may keep such funds in
their entirety.  If the Buyer notifies the Chapter 11 Trustee of
such needed repairs, the Chapter 11 Trustee may elect to either (a)
make the repairs or (b) release sufficient funds from the Escrow
for the Buyer to make the necessary repairs.  

If the Buyer notifies the Chapter 11 Trustee of such needed repairs
that cost more than the amount of the Escrow fund, then the Chapter
11 Trustee may surrender the Escrow funds in full satisfaction of
any further obligations under the Sale Contract.  

The Trustee asks that the Vessels be transferred to the Buyer free
and clear of all Interests, with such Interests to attach to the
proceeds of the sale, subject to a reservation of rights of all
parties who may claim an interest in the Vessels.

Pursuant to Bankruptcy Rule 6004(h), an order authorizing the sale
of property is stayed for 14-days after the entry of an order
unless the Court orders otherwise, the Chapter 11 Trustee asks that
the Court enters an order authorizing the sale to take immediate
effect notwithstanding Fed. R. Bankr. P. 6004(h).

A copy of the Contracts is available at https://tinyurl.com/w5tvsrm
from PacerMonitor.com free of charge.

                   About Melinta Therapeutics

Melinta Therapeutics, Inc. (NASDAQ: MLNT) --
http://www.melinta.com/-- is the largest pure-play antibiotics
company, dedicated to saving lives threatened by the global public
health crisis of bacterial infections through the development and
commercialization of novel antibiotics that provide new therapeutic
solutions.  Its four marketed products include Baxdela
(delafloxacin), Vabomere (meropenem and vaborbactam), Orbactiv
(oritavancin), and Minocin (minocycline) for Injection.  This
portfolio provides Melinta with the unique ability to provide
providers and patients with a range of solutions that can meet the
tremendous need for novel antibiotics treating serious infections.

Melinta Therapeutics, Inc., and its subsidiaries sought Chapter 11
protection (D. Del. Lead Case No. 19-12748) on Dec. 27, 2019, after
reaching a deal with lenders on a Chapter 11 plan that would
convert debt to equity.

Melinta Therapeutics disclosed $228,491,000 in assets and
$289,022,000 in liabilities as of Sept. 30, 2019.

The Hon. Laurie Selber Silverstein is the presiding judge.

Melinta tapped Skadden, Arps, Slate, Meagher & Flom LLP as
bankruptcy counsel.  Cole Scholtz LLP is co-counsel.  Jefferies,
LLC, is the investment banker; and Portage Point Partners, LLC, is
the financial advisor.  

Kurtzman Carson Consultants LLC is the claims agent, maintaining
the page http://www.kccllc.net/melinta  

The Supporting Lenders are advised by Sullivan & Cromwell LLP,
Houlihan Lokey and Landis Rath & Cobb LLP.


MEMPHIS SPINE: Unsecured Creditors to Get 1% Dividend in Plan
-------------------------------------------------------------
Memphis Spine Rehab Center, PLLC, filed an Amended Plan of
Reorganization that proposes to treat claims as follows:

   * Class 2A: Fox Funding Zachter, PLLC is a secured creditor by
virtue of a loan with a balance of $63,015.  Class 2B: Merchant
Funding Services, LLC, is a secured creditor by virtue of a loan
with a balance of $55,550.  Class 2C: CAP Call, LLC is a secured
creditor by virtue of a loan with a balance of $77,031.  Class 2D:
JH Portfolio Debt Equities is a secured creditor by virtue of a
loan with a balance of $63,015.  Each Classes 2A to 2D Claims will
be paid with 5% interest over ten years from a $5,000 payment to be
prorated each month.

   * Class 2F: Rock A. Wooster has a claim filed as secured in the
amount of $1,478,575 which has no collateral to secure same
pursuant to 11 U.S.C. Section 506 therefore completely undersecured
and will be treated in Plan as totally unsecured in Class 4.

   * Class 3: Class 3 Unsecured Priority Claim of Internal Revenue
Service.  The IRS is an unsecured priority creditor by the filed
claim based upon unpaid taxes of Debtor.  The Debtor will pay
$57,506 as a priority claim with statutory interest of 5% over five
years of $1,377 each month beginning Effective Date of
Confirmation.

   * Class 4: Unsecured Claims Not Entitled to Priority.  Class 4
claims will be paid on a pro rata basis 1% of their allowed claim
over five years beginning one year after entry of the Order of
Confirmation and payments annually on such date in each year
thereafter.

   * Class 5: Interest of Debtors.  Class 5 consists of the limited
liability interests of Debtor which receive no distribution, but
such interests shall be retained under the Plan by Dr. Jason
Coleman who will continue to work in the practice and not take
salary commiserate with a normal salary during plan.

Subject to the transactions contemplated by the Plan, the Debtor
and Dr. Jason Coleman will continue to operate the Debtor. Future
income will fund the Plan.

A full-text copy of the Amended Plan of Reorganization dated Jan.
22, 2020, is available at https://tinyurl.com/wc8wtk9 from
PacerMonitor.com at no charge.

Attorney for the Debtor:

     Toni Campbell Parker
     LAW OFFICE OF TONI CAMPBELL PARKER
     615 Oakleaf Office Lane,Suite 201
     Memphis, Tennessee 38117
     Tel: (901) 683-0099
     E-mail: tparker002@att.net

             About Memphis Spine and Rehab Center

Memphis Spine and Rehab Center, PLLC --
http://www.thememphisspine.com/-- is a healthcare company in
Germantown, Tenn., that provides a variety of services including
physical therapy, massage therapy, chiropractic care, nutritional
guidance, respiratory therapy and primary care.  It serves the
residents of Cordova, Memphis, Germantown, Collerville, Bartlett,
Lakeland and East Memphis.

Memphis Spine and Rehab Center sought protection under Chapter 11
of the Bankruptcy Code (Bankr. W.D. Tenn. Case No. 18-28084) on
Sept. 27, 2018.  At the time of the filing, the Debtor was
estimated to have assets of less than $50,000 and liabilities of $1
million to $10 million.  The case has been assigned to Judge George
W. Emerson Jr.  The Debtor hired the Law Office of Toni Campbell
Parker as its legal counsel.


MIDAS INTERMEDIATE II: Moody's Affirms B3 CFR, Outlook Negative
---------------------------------------------------------------
Moody's Investors Service affirmed the ratings of Midas
Intermediate Holdco II, LLC, including the B3 corporate family
rating, and changed the outlook to negative from stable.

"This change in outlook to negative recognizes the weakness in
Service King's operating performance, with the result being credit
metrics that are well-below the triggers for a downgrade," stated
Moody's Vice President Charlie O'Shea. "That said, Moody's believes
that management has a strategy that can, if well-executed, reverse
the weak operating trends," continued O'Shea. "In addition, the
upcoming August 2021 maturity of the term loan is another
significant factor, with meaningful progress towards a refinance or
extension necessary over the next few months."

Affirmations:

Issuer: Midas Intermediate Holdco II, LLC

Probability of Default Rating, Affirmed B3-PD

Corporate Family Rating, Affirmed B3

Senior Secured Bank Credit Facility, Affirmed B1 (LGD3)

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

Outlook Actions:

Issuer: Midas Intermediate Holdco II, LLC

Outlook, Changed To Negative From Stable

RATINGS RATIONALE

Service King's B3 rating reflects its weak credit metrics, with pro
forma debt/ EBITDA at the September 2019 LTM of around 8 times and
EBIT/interest well below 1 time. Supporting the rating is Service
King's solid market position in the highly fragmented collision
repair sub-sector, its mutually-beneficial relationships with
national and major insurance carriers which represents the vast
majority of revenue, and strong industry fundamentals which should
support continuing stable demand for its services. However, while
demand fundamentals are stable, recent pricing pressure with
certain carriers along with higher costs has resulted in an erosion
in margins, EBITDA and free cash flow. Leverage and interest
coverage are expected to improve such that they approach 7.0 times
and 1.1 times respectively over the next 12-18 months should the
company successfully execute its operating efficiency initiatives
and the contribution from recent and future store additions should
offset labor pressures and support earnings growth. Service King's
liquidity profile is adequate, supported by its $131.4 million cash
balance as of September 28, 2019, $100 million of which has
restrictions as to use, and access to its $100 million revolving
credit facility which expires in May 2021. The adequate liquidity
is predicated on the expectation that Service King will address
well in advance the upcoming August 2021 maturity of its roughly
$600 million senior secured Term Loan.

The negative outlook reflects the risks surrounding the speed with
and level to which credit metrics will improve, as well as the
August 2021 term loan maturity. Given the negative outlook, an
upgrade over the near term is unlikely. Over time, ratings could be
upgraded if the company is able to drive meaningful revenue and
EBITDA growth such that Debt/EBITDA approaches 6.5 times with
EBIT/interest sustained materially above 1.25 times. An upgrade
would also require the company to maintain at least good liquidity,
and the expectation that financial policies will sustain metrics at
these levels. Over a shorter horizon, the outlook could return to
stable if operating improvements are achieved such that credit
metrics begin to generate meaningful positive momentum away from
the current downgrade triggers. A stabilization of the outlook
would also require addressing the term loan maturity in timely
manner. Ratings could be downgraded if "steady state" operating
performance does not show signs of stabilization or financial
policies become more aggressive such that Debt/EBITDA remains above
7.5 times and EBIT/interest remains below 1.0 times. Ratings could
also be downgraded if the company's liquidity profile were to
deteriorate for any reason, or if meaningful progress is not made
towards addressing the August 2021 term loan maturity in due
course.

Service King is exposed to environmental risk as the company is
subject to governmental laws and regulations regarding hazardous
waste. Service King could be impacted if they are found to be in
purported violation of or subject to liabilities under any of these
laws or regulations, or if new laws or regulations are enacted that
adversely affect the operations, business, reputation, financial
condition, or results of operations. Service King was recently
fined by the State of California for failure to adhere with
hazardous waste regulations. However, the fine was reduced to an
immaterial amount, $1.8 million, following Service Kings early
adoption of remediation efforts. Service King has put in a place an
ongoing training program to ensure that its employees comply with
all hazardous waste requirements going forward. Service King's
overall corporate governance risk is high given its financial
sponsor ownership. Financial strategy and leverage policy are a key
concern with sponsor-owned companies, and in the case of Service
King, the key risk is that the sponsor's pursuit of an aggressive
pace of debt-funded acquisitions, which has increased total funded
debt by more than $300 million since 2014, has resulted in an
elevated leverage profile that may limit the company's financial
flexibility in the event that earnings deteriorate from current
levels.

Headquartered in Richardson, Texas, Midas Intermediate Holdco II,
LLC is a leading provider of vehicle body repair services with
annual revenue of over $1.2 billion. The company operates under the
Service King brand name and operated 343 locations in 24 states as
of September 28, 2019.

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


MILLMAC CORP: Proposes Junktiques Auction of Business Equipment
---------------------------------------------------------------
Millmac Corp. asks approval from the U.S. Bankruptcy Court for the
Middle District of Florida to authorize the entry of an order
shortening the 21-day notice period required in Rule 2002(a) of the
Federal Rules of Bankruptcy Procedure, in connection with its sale
of business equipment through a public auction to be conducted by
Junktiques Auctions, LLC.   

The Debtor provides solutions to shipbuilding, ship repair, and
marine equipment manufacturing companies, as well as dredging
services to local governments, marina developers, and residential
builders.  

On Jan. 6, 2020, the Debtor filed the Auction Motion on an
emergency basis, asking authority to sell certain business
equipment through a public auction to be conducted by Junktiques.
It filed the Auction Motion on an emergency basis because the
Debtor will be moving to a smaller facility in January 2020, which
will reduce its expenses and benefit the estate.  Absent expedited
relief, the Debtor would be forced to incur the expense of
transporting and storing the Equipment.  

The Debtor filed the Sale Motion immediately prior to the filing of
the instant Motion.  Bankruptcy Rule 2002(a) requires 21 days'
notice to parties in interest for proposed use, sale or lease of
property of the estate, unless the Court for cause shown shortens
the time or directs another method of giving notice.

Cause exists to shorten notice.  Conducting the auction on an
expedited basis is required to alleviate the cost the estate would
be forced to incur transporting and storing the equipment.  

Accordingly, the Debtor has requested a hearing on the Auction
Motion by Jan. 15, 2020, and by the Motion asks an order providing
that the time period between the filing of the Auction Motion and
the hearing date set by the Court constitutes sufficient notice.

A hearing on the Motion is set for Jan. 15, 2020 at 9:30 a.m.

A copy of the Contract is available at https://tinyurl.com/wx8n6er
from PacefrMonitor.com free of charge.

                     About Millmac Corporation

Millmac Corporation is a provider of specialized marine labor, ship
repair and dredging for industrial and residential uses.

Based in Bartow, Fla., Millmac Corporation filed for Chapter 11
bankruptcy protection (Bankr. M.D. Fla. Case No. 19-11877) on Dec.
18, 2019. In the petition signed by Michael J. Miller, president,
the Debtor disclosed $1,308,639 in assets and $1,619,039 in
liabilities.  Susan Heath Sharp, Esq., at Stichter, Riedel, Blain &
Postler, P.A., is the Debtor's legal counsel.


MONAKER GROUP: Extends Maturity of Notes to April 1, 2020
---------------------------------------------------------
Monaker Group, Inc. previously borrowed $171,500 ($175,000 less a
2% original issuance discount) from two directors and entered into
promissory notes with such directors, in the amount of $150,000 and
$25,000, with Robert J. Mendola, Jr. and Pasquale LaVecchia,
respectively.

The amounts borrowed under the Director Notes accrue interest at
the rate of 12% per annum (18% upon the occurrence of an event of
default).  The Director Notes contain standard and customary events
of default.

On Dec. 9, 2019, the Company entered into an Amended and Restated
Promissory Note with the Donald P. Monaco Insurance Trust, of which
Donald P. Monaco is the trustee and the chairman of the Board of
Directors of the Company, in the amount of up to $2,700,000.

The amount owed pursuant to the Revolving Monaco Trust Note accrues
interest at the rate of 12% per annum (18% upon the occurrence of
an event of default).  The Revolving Monaco Trust Note contains
standard and customary events of default.

As of Jan. 31, 2020, the Revolving Monaco Trust Note has a balance
of $1,200,000 and the amount remaining under the note of
$1,500,000, can be accessed by the Company on a revolving basis, at
any time, prior to the maturity date of the note, with the approval
of the Monaco Trust.

On Jan. 29, 2020, the Company entered into first amendments to the
Director Notes and Revolving Trust Note with the directors and the
Monaco Trust, respectively, to extend the maturity date of such
notes from Feb. 1, 2020 to April 1, 2020.  No other changes were
made to those notes as a result of those amendments.

                     About Monaker Group

Headquartered in Weston, Florida, Monaker Group, Inc. --
www.monakergroup.com -- is a technology-driven travel company
focused on delivering innovation to the alternative lodging rental
(ALR) market.  The proprietary Monaker Booking Engine (MBE)
provides access to more than 2.6 million instantly bookable
vacation rental homes, villas, chalets, apartments, condos, resort
residences, and castles.  MBE offers travel distributors and
agencies an industry first: a customizable, instant-booking
platform for alternative lodging rental.

As of Nov. 30, 2019, the Company had $10.02 million in total
assets, $3.30 million in total liabilities, and $6.72 million in
total stockholders' equity.

Thayer O'Neal Company, LLC, in Houston, Texas, the Company's
auditor since 2019, issued a "going concern" qualification in its
report dated June 13, 2019, citing that the Company has an
accumulated deficit and limited financial resources.  This raises
substantial doubt about its ability to continue as a going concern.


MOSIER MANAGEMENT: Voluntary Chapter 11 Case Summary
----------------------------------------------------
Debtor: Mosier Management LLC
          aka German Parts World
          aka Adsit Company
        12440 S. Old Road
        Muncie, IN 47302

Business Description: Mosier Management LLC aka Adsit Company --
                      https://www.adsitco.com -- specializes in
                      parts exclusively for Mercedes Benz
                      automobiles.

Chapter 11 Petition Date: February 3, 2020

Court: United States Bankruptcy Court
       Southern District of Indiana

Case No.: 20-00640

Judge: Hon. Robyn L. Moberly

Debtor's Counsel: Terry E. Hall, Esq.
                  TERRY HALL LAW PC
                  712 E Seminary St.
                  Greencastle, IN 46135
                  Tel: 317-370-7583
                  Email: terry@terryhall.law

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Josiah Mosier, sole 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/vzXBKF


MWM OIL: Proposed Online Auction of Remaining Personal Property OKd
-------------------------------------------------------------------
Judge Robert E. Nugent of the U.S. Bankruptcy Court for the
District of Kansas authorized RAG Oil Co., Inc. and MWM Oil Co.,
Inc. to sell all their remaining personal property in and around
the building located at 424 E. Main, Towanda, Butler County,
Kansas, by online auctions conducted by Butler County Auction, LLC,
704 Main St, Towanda, Kansas, beginning upon entry of the Order
approving the intended sale, and completing by a date mutually
agreed by the Debtors and Butler.

The Assets will be sold "as-is, where-is," without warranties or
representations of any kind; warranties of merchantability and
fitness for a particular purpose are expressly disclaimed.

The sale of the Assets will be free and clear of liens and
encumbrances of record, with all liens and encumbrances in these
assets transferred to the net proceeds of sale, after payment of
costs of sale as provided.

The Debtors are authorized to disburse the sale proceeds as
follows: (i) Auctioneer's fee - 28% of gross sale proceeds of the
Assets; and (ii) balance to be paid to Midland National Bank (Class
3 creditor) pursuant to the Confirmed Plan.

                  About RAG Oil Co., Inc.

Based in Towanda, Kansas, RAG Oil Co., Inc. & MWM Oil Company, Inc.
filed voluntary bankruptcy petitions under Chapter 11 (Bankr. D.
Kan. Case No. 19-11405 & Case No. 19-11404, respectively) on July
26, 2019. The Debtors are represented by William B. Sorensen, Jr.
at Morris Laing Evans Brock And Kennedy.


NEFFGEN FAMILY: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Neffgen Family Stores, LLC
          DBA Mighty Dollar
        2 Ganibrelle Court
        Simpsonville, SC 29681

Business Description: Neffgen Family Stores LLC is a seller of
                      home goods with various locations in upstate
                      South Carolina.

Chapter 11 Petition Date: February 1, 2020

Court: United States Bankruptcy Court
       Southern District of California

Case No.: 20-00571

Judge: Hon. Helen E. Burris

Debtor's Counsel: Robert H. Cooper, Esq.
                  THE COOPER LAW FIRM
                  150 Milestone Way, Ste B
                  Greenville, SC 29615
                  Tel: 864-271-9911
                  E-mail: thecooperlawfirm@thecooperlawfirm.com

Estimated Assets: $500,000 to $1 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Alfred Neffgen, managing member.

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/Ns8bck


NOVELION THERAPEUTICS: Deadline to File Claim Set for May 29
------------------------------------------------------------
The Supreme Court of British Columbia set May 29, 2020, at 5:00
p.m. (Local Vancouver Time), as the last date and time for persons
and entities to file proofs of claim against Novelion Therapeutics
Inc.  Proof of claim forms can be accessed at
http://www.alvarezandmarsal.com/novelion.

All proofs of claim must be sent to by the deadline:

      Alvarez and Marsal Canada Inc.
      Commerce Place
      400 Burrard Street, Suite 1680
      Vancouver, BC V6C 3A6
      Attn: 604-638-7441
      E-mail: nvirmani@alvarezandmarsal.com

Novelion Therapeutics Inc. (NASDAQ: NVLN), a biopharmaceutical
company, develops a portfolio of therapies for individuals living
with rare diseases in the United States, Brazil, and
internationally.  The company was formerly known as QLT Inc. and
changed its name to Novelion Therapeutics Inc. in November 2016.
Novelion Therapeutics was founded in 1981 and is headquartered in
Vancouver, Canada.


OFFSHORE MARINE: Seeks to Continue Line of Credit with Amex
-----------------------------------------------------------
Offshore Marine Contractors, Inc., seeks permission from the
Bankruptcy Court (i) to obtain, in the ordinary course of business,
unsecured post-petition credit from American Express Company and
its affiliated entities and subsidiaries,  (ii) to pay pre-petition
balances owed to Amex, and (iii) to waive any potential causes of
action arising under Chapter 5 of the Bankruptcy Code as to
transfers made to Amex.

The Debtor, in the ordinary course of business, buys fuel, galley,
and other supplies and parts necessary for the continued operation
of its fleet using multiple corporate credit cards under a single
corporate account.  The Debtor also uses its Amex account to
purchase necessary supplies and equipment on the weekends when it
otherwise would be unable to do so, as well as when it does not
have credit terms established with certain vendors.

While the continued credit requested by the Debtor is customarily
occasioned by the Debtor's ordinary course of business, and thus
approval general would be unnecessary, the Debtor relates that Amex
requires payment of the outstanding Amex Account balance as a
condition of further lending.  As of Jan. 15, 2020, the balance due
on the Amex Account is $4,322.78, of which $2,733.38 represents
pre-petition charges.  The Debtor's post-petition Amex account
credit limit will be fixed at $25,000 on a revolving basis.   

A copy of the motion is available at https://is.gd/DVI1Oe from
PacerMonitor.com at no charge.

The Court will hear the motion on February 5, 2020 at 9 a.m.  

               About Offshore Marine Contractors

Offshore Marine Contractors -- http://offshoremarine.net/-- is a
family-owned and operated company that provides offshore,
self-propelled and self-elevating liftboats for the petroleum
exploration and transportation industries.

Offshore Marine Contractors sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. E.D. La. Case No. 19-13253) on Dec. 4,
2019.  In the petition signed by its president, Raimy Eymard, the
Debtor disclosed $32,345,576 in assets and $69,280,946 in debts.
Judge Meredith S. Grabill oversees the case.  

The Debtor tapped Stewart Robbins & Brown, LLC as legal counsel;
Bohman Morse, LLC as special maritime counsel; Baldwin Haspel Burke
& Mayer, LLC as special tax counsel; Pepperman, Emboulas, Schwartz,
& Todaro, LLC as accountant; and Stout Risius Ross, LLC as
financial advisor.


ORIGINCLEAR INC: Holders Convert $19,490 Notes Into Equity
----------------------------------------------------------
As previously reported, OriginClear, Inc., entered into agreements
by and between the Company and various investors by which investors
hold convertible promissory notes convertible into shares of the
Company's common stock.  Between Jan. 7, 2020 and Jan. 27, 2020,
holders of convertible promissory notes converted an aggregate
principal and interest amount of $19,490 into an aggregate of
468,771 shares of the Company's common stock.

The securities were offered and sold pursuant to an exemption from
the registration requirements under Section 4(a)(2) of the
Securities Act since, among other things, the transactions did not
involve a public offering.

On Jan. 16, 2020, the Company issued to consultants an aggregate of
20,000 shares of the Company's common stock for services.

                         About OriginClear

Headquartered in Los Angeles, California, OriginClear --
www.originclear.com -- is a provider of water treatment solutions
and the developer of a breakthrough water cleanup technology.
Through its wholly owned subsidiaries, OriginClear provides systems
and services to treat water in a wide range of industries, such as
municipal, pharmaceutical, semiconductors, industrial, and oil &
gas.

OriginClear a net loss of $11.35 million for the year ended Dec.
31, 2018, following a net loss of $5.23 million for the year ended
Dec. 31, 2017.  As of Sept. 30, 2019, the Company had $1.28 million
in total assets, $20.61 million in total liabilities, $1.68 million
in Series F 8% Convertible Preferred Stock, $530,000 in Series G 8%
Convertible Preferred Stock, $797,400 in
Series I/J 8% Convertible Preferred Stock, $1.26 million in Series
K/L 8% Convertible Preferred Stock, and a total shareholders'
deficit of $23.59 million.

Liggett & Webb, P.A, in New York, NY, the Company's auditor since
2014, issued a "going concern" qualification in its report dated
April 25, 2019, citing that the Company does not generate
significant revenue, incurred a net loss and has negative cash
flows from operations.  This raises substantial doubt about the
Company's ability to continue as a going concern.


PADDOCK ENTERPRISES: Hires Mr. Gordon of DJG Services as CRO
------------------------------------------------------------
Paddock Enterprises, LLC, seeks authority from the U.S. Bankruptcy
Court for the District of Delaware to employ David J. Gordon of DJG
Services, LLC, as chief restructuring officer to the Debtor.

Paddock Enterprises requires DJG Services to:

   a. assist the Debtor in developing and conducting its real
      estate portfolio business consisting of triple-net leases
      of quick-service restaurants, or similar business,
      including by (a) identifying potential real estate
      acquisitions, which the Debtor may acquire through one or
      more wholly-owned subsidiaries, (b) taking all steps to
      acquire, on behalf of the Debtor, such properties, and (c)
      continuing to monitor, as necessary and appropriate,
      compliance by the counterparties of any applicable triple-
      net leases with the terms thereof;

   b. evaluate and implement restructuring alternatives for the
      Debtor developed and proposed by the Debtor's advisors and
      assuming responsibility for the overall management thereof;
      and

   c. serve as the representative for the Debtor at any
      deposition, court hearings, or trials, and, at the Board's
      request, at any meetings or mediations with representatives
      of creditors of the Debtor.

DJG Services will be paid a fixed monthly fee of $20,000. DJG
Services will be paid a retainer in the amount of $25,000.

DJG Services will also be reimbursed for reasonable out-of-pocket
expenses incurred.

David J. Gordon, partner of DJG Services, 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.

DJG Services can be reached at:

     David J. Gordon
     DJG SERVICES, LLC
     21 Saint Maxime
     Laguna Niguel, CA 92677
     Tel: (415) 738-8282
     E-mail: dgordon@djoservicesllc.com

                    About Paddock Enterprises

Paddock Enterprises, LLC's business operations are exclusively
focused on (i) owning and managing certain real property and (ii)
owning interests in, and managing the operations of, its non-debtor
subsidiary, Meigs, which is developing an active real estate
business. It is the successor-by-merger to Owens-Illinois, Inc.,
which previously served as the ultimate parent of the company.
Paddock Enterprises is a direct, wholly owned subsidiary of O-I
Glass.

Paddock Enterprises sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Del. Case No. 20-10028) on Jan. 6, 2020.
At the time of the filing, the Debtor disclosed assets of between
$100 million and $500 million and liabilities of the same range.

Judge Laurie Selber Silverstein oversees the case.

The Debtor tapped Richards, Layton & Finger, P.A. and Latham &
Watkins LLP as legal counsel; Alvarez & Marsal North America, LLC
as financial advisor; and Prime Clerk, LLC as claims, noticing and
solicitation agent and administrative advisor.



PADDOCK ENTERPRISES: Hires Prime Clerk as Administrative Advisor
----------------------------------------------------------------
Paddock Enterprises, LLC, seeks authority from the U.S. Bankruptcy
Court for the District of Delaware to employ Prime Clerk LLC, as
administrative advisor to the Debtor.

Paddock Enterprises requires Prime Clerk to:

   a. assist with, among other things, solicitation, balloting,
      and tabulation of votes, and prepare any related reports,
      as required in support of confirmation of a chapter 11
      plan, and in connection with such services, process
      requests for documents from parties in interest, including,
      if applicable, brokerage firms, bank back-offices, and
      institutional holders;

   b. prepare an official ballot certification and, if necessary,
      testify in support of the ballot tabulation results;

   c. assist with the preparation of the Debtors' schedules of
      assets and liabilities and statements of financial affairs
      and gather data in conjunction therewith;

   d. provide a confidential data room, if requested;

   e. manage and coordinate any distributions pursuant to a
      chapter 11 plan; and

   f. provide such other processing, solicitation, balloting, and
      other administrative services described in the Engagement
      Agreement, but not covered by the Section 156(c) Order, as
      may be requested from time to time by the Debtors, the
      Court, or the Office of the Clerk of the Bankruptcy Court
      (the "Clerk").

Prime Clerk will be paid at these hourly rates:

     Director of Solicitation                  $215
     Solicitation Consultant                   $195
     COO and Executive VP                      No charge
     Director                                  $175-$195
     Consultant/Senior Consultant              $70-$170
     Technology Consultant                     $35-$95
     Analyst                                   $35-$55

Prime Clerk will be paid a retainer in the amount of $50,000.

Prime Clerk will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Benjamin J. Steele, partner of Prime Clerk LLC, assured the Court
that the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtors and their estates.

Prime Clerk can be reached at:

     Benjamin J. Steele
     PRIME CLERK LLC
     830 3rd Avenue, 9th Floor
     New York, NY10022
     Tel: (212) 257-5450
     E-mail: bsteele@primeclerk.com

                   About Paddock Enterprises

Paddock Enterprises, LLC's business operations are exclusively
focused on (i) owning and managing certain real property and (ii)
owning interests in, and managing the operations of, its non-debtor
subsidiary, Meigs, which is developing an active real estate
business. It is the successor-by-merger to Owens-Illinois, Inc.,
which previously served as the ultimate parent of the company.
Paddock Enterprises is a direct, wholly owned subsidiary of O-I
Glass.

Paddock Enterprises sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Del. Case No. 20-10028) on Jan. 6, 2020.
At the time of the filing, the Debtor disclosed assets of between
$100 million and $500 million and liabilities of the same range.

Judge Laurie Selber Silverstein oversees the case.

The Debtor tapped Richards, Layton & Finger, P.A. and Latham &
Watkins LLP as legal counsel; Alvarez & Marsal North America, LLC
as financial advisor; and Prime Clerk, LLC as claims, noticing and
solicitation agent and administrative advisor.



PADDOCK ENTERPRISES: Hires Richard Layton as Co-Counsel
-------------------------------------------------------
Paddock Enterprises, LLC, seeks authority from the U.S. Bankruptcy
Court for the District of Delaware to employ Richard Layton &
Finger, P.A., as co-counsel to the Debtor.

Paddock Enterprises requires Richards Layton to:

   a) assist in preparing all petitions, motions, applications,
      orders, reports, and papers necessary or desirable to
      commence one or more cases under the Bankruptcy Code;

   b) advise the Debtor of its rights, powers, and duties as a
      debtor and debtor-in-possession under chapter 11 of the
      Bankruptcy Code;

   c) take all necessary actions to protect and preserve the
      Debtor's estate, including the prosecution of claims and
      causes actions on the Debtor's behalf, the defense of
      actions commenced against the Debtor in the Chapter 11
      Case, the negotiation of disputes in which the Debtor is
      involved, and the preparation of objections to claims
      filed against the Debtor;

   d) assist in preparing on behalf of the Debtor all motions,
      applications, answers, orders, reports, and papers in
      connection with the administration of the Debtor's
      estate;

   e) assist in preparing a disclosure statement and any related
      documents and pleadings necessary to solicit votes on any
      plan of reorganization proposed by the Debtor;

   f) prosecute on behalf of the Debtor any proposed plan and
      seeking approval of all transactions contemplated therein
      and in any amendments thereto; and

   g) perform all other necessary legal services in connection
      with the prosecution of this Chapter 11 Case.

Richards Layton will be paid at these hourly rates:

     Directors                $725 to $1,050
     Associates               $400 to $665
     Paraprofessionals           $295

Richards Layton will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Daniel J. DeFranceschi, a partner of Richards Layton & Finger,
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.

Richards Layton can be reached at:

     Daniel J. DeFranceschi, Esq.
     Michael J. Merchant, Esq.
     Zachary I. Shapiro, Esq.
     Brett M. Haywood, Esq.
     Megan E. Kenney, Esq.
     Sarah E. Silveira, Esq.
     RICHARDS LAYTON & FINGER, P.A.
     One Rodney Square, 920 North King Street
     Wilmington, DE 19801
     Tel: (302) 651-7700
     Fax: (302) 651-7701

                   About Paddock Enterprises

Paddock Enterprises, LLC's business operations are exclusively
focused on (i) owning and managing certain real property and (ii)
owning interests in, and managing the operations of, its non-debtor
subsidiary, Meigs, which is developing an active real estate
business. It is the successor-by-merger to Owens-Illinois, Inc.,
which previously served as the ultimate parent of the company.
Paddock Enterprises is a direct, wholly owned subsidiary of O-I
Glass.

Paddock Enterprises sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Del. Case No. 20-10028) on Jan. 6, 2020.
At the time of the filing, the Debtor disclosed assets of between
$100 million and $500 million and liabilities of the same range.

Judge Laurie Selber Silverstein oversees the case.

The Debtor tapped Richards, Layton & Finger, P.A. and Latham &
Watkins LLP as legal counsel; Alvarez & Marsal North America, LLC
as financial advisor; and Prime Clerk, LLC as claims, noticing and
solicitation agent and administrative advisor.



PANCAKES & PIES: Court Approves Combined Disclosure & Plan
----------------------------------------------------------
Pancakes & Pies, LLC and its Debtor Affiliates filed with the U.S.
Bankruptcy Court for the District of Delaware a Combined Disclosure
Statement and Chapter 11 Plan of Liquidation.

On January 14, 2020, Judge Kevin Gross ordered that:

  * The Combined Disclosure Statement and Plan is approved on a
final basis as having adequate information as contemplated by
section 1125(a)(1) of the Bankruptcy Code.

  * The Combined Disclosure Statement and Plan is confirmed and
approved in all respects.

  * The compromises and settlements set forth in the Combined
Disclosure Statement and Plan are approved, including with respect
to the Global Resolution, and will be effective immediately and
binding on all parties in interest on the Effective Date.

  * The documents contained in the Plan Supplement are integral to
the Combined Disclosure Statement and Plan and are approved by the
Court, and each of the Debtors, the Post-Effective Date Debtors,
the Plan Administrator, the Liquidating Trust, and the Liquidating
Trustee, as applicable, are authorized to take all actions required
under the Combined Disclosure Statement and Plan and the Plan
Supplement to effectuate the Combined Disclosure Statement and Plan
and the transactions.

  * On the Effective Date, pursuant to the provisions of Section
1141(b) and (c) of the Bankruptcy Code, any assets that are the
property of the Debtors' Estates on the Effective Date, including,
without limitation, any Causes of Action, other than the GUC Plan
Consideration, shall revest in the Post-Effective Date Debtors free
and clear of all Claims, interests, liens, encumbrances, charges,
liabilities, and other interests, except as otherwise provided in
the Combined Disclosure Statement and Plan or this Confirmation
Order and subject to the terms and conditions of the Combined
Disclosure Statement and Plan and this Confirmation Order.

A full-text copy of the order dated Jan. 14, 2020, is available at
https://tinyurl.com/r2tk5de from PacerMonitor.com at no charge.

A full-text copy of the Combined Disclosure Statement and Plan
dated Jan. 7, 2020, is available at https://tinyurl.com/yx6odxek
from PacerMonitor.com  at no charge.

                     About Pancakes & Pies

Pancakes & Pies, LLC, et al., were leading operators and
franchisors of family-dining and casual-dining restaurants, under
their two highly-recognized brands:    (i) their full-service
Perkins family dining restaurants located primarily in Minnesota,
Iowa, Wisconsin, Ohio, Pennsylvania and Florida under the name
"Perkins  Restaurant and Bakery" and (ii) their mid-priced,
full-service Marie Callender's casual-dining restaurants,
specializing in the sale of pies and other bakery items, located
primarily in California and Nevada under the name "Marie
Callender's Restaurant and Bakery".

Pancakes & Pies, LLC, and its affiliates sought Chapter 11
protection on Aug. 5, 2019.

The Debtors are represented by:

         RICHARDS, LAYTON & FINGER, P.A.
         Daniel J. DeFranceschi
         Michael J. Merchant
         Zachary I. Shapiro
         Brett M. Haywood
         One Rodney Square
         920 North King Street
         Wilmington, Delaware 19801
         Tel: 302-651-7700
         Fax: 302-651-7701
         E-mail: defranceschi@rlf.com
                 merchant@rlf.com
                 shapiro@rlf.com
                 haywood@rlf.com

             - and -

         AKIN GUMP STRAUSS HAUER & FELD LLP
         Scott L. Alberino
         Joanna Newdeck
         2001 K Street, N.W.
         Washington, DC 20006
         Telephone: (202) 887-4000
         Facsimile: (202) 887-4288
         Gary A. Ritacco
         One Bryant Park
         New York, New York 10036
         Telephone: (212) 872-1000
         Facsimile: (212) 872-1002


PAYLESS HOLDINGS: Reorganization Plan Declared Effective Jan. 14
----------------------------------------------------------------
On Oct. 23, 2019, the Honorable Kathy A. Surratt-States, Chief
United States Bankruptcy Judge for the United States Bankruptcy
Court for the Eastern District of Missouri, entered an order
confirming the Second Amended Joint Plan of Reorganization of
Payless Holdings LLC and its Debtor Affiliates Pursuant to Chapter
11 of the Bankruptcy Code as Modified on Oct. 23, 2019.

The Effective Date of the Plan occurred on Jan. 14, 2020.  Each of
the conditions precedent to consummation of the Plan enumerated in
Article VIII of the Plan has been satisfied or waived in accordance
with the provisions of the Plan.

Pursuant to the Confirmation Order, the settlement, release,
injunction and exculpation provisions in Article IX of the Plan are
now in full effect.

All final requests for Professional Fee Claims must be filed and
served in accordance with the Interim Compensation Order by
February 13, 2020. All requests for payment of an Administrative
Claim that accrued on or before the Effective Date must be filed
with the Bankruptcy Court and served on the Reorganized Debtors no
later than February 13, 2020.

The Plan and the Confirmation Order are binding on the Debtors, the
Reorganized Debtors, and any holder of a Claim or an Interest and
such holder’s respective successors and assigns, whether or not
the Claim or the Interest of such holder is Impaired under the
Plan, and whether or not such holder voted to accept the Plan. You
are encouraged to review the Plan and the Confirmation Order in
their entirety.

A full-text copy of the notice dated Jan. 14, 2020, is available at
https://tinyurl.com/ww7mzgf from PacerMonitor.com at no charge.

The Debtors are represented by:

        Richard W. Engel, Jr.
        Erin M. Edelman
        John G. Willard
        ARMSTRONG TEASDALE LLP
        7700 Forsyth Boulevard, Suite 1800
        St. Louis, MO 63105
        Telephone: (314) 621-5070
        Facsimile: (314) 612-2239
        E-mail: rengel@armstrongteasdale.com
        E-mail: eedelman@armstrongteasdale.com
        E-mail: jwillard@armstrongteasdale.com

                 - and -

        Ira Dizengoff
        Meredith A. Lahaie
        Kevin Zuzolo
        AKIN GUMP STRAUSS HAUER & FELD LLP
        One Bryant Park
        New York, NY 10036
        Telephone: (212) 872-1000
        Facsimile: (212) 872-1002
        E-mail: idizengoff@akingump.com
        E-mail: mlahaie@akingump.com
        E-mail: kzuzolo@akingump.com

                    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 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.


PESTOVA HOLDINGS: Selling Houston Property for $600K
----------------------------------------------------
Pestova Holdings, LLC, asks for authorization from the U.S.
Bankruptcy Court for the Southern District of Texas to sell the
real property commonly known as 10444 Rosecroft Dr., Houston, Texas
for $600,000.

The Debtor has successfully negotiated and obtained a contract for
the sale of real property and would ask leave of the Court to sell
the property in order to pay property tax authorities in full as
evidenced in their respective Proof of Claim, pay priority and
unsecured creditors in full, pay secured creditors certain
defaulted mortgage payments bring said defaulted loans current, pay
secured creditor regarding retail installment contract on one (1)
2014 John Deer Backhoe Tractor in full; and upon completion of said
actions, the Debtor will file a motion to voluntarily dismiss the
proceeding.   

The Debtor owns the real property as Mortgagor.  It is anticipating
a possible realization of equity/capital gain in the sale of the
property at issue in the approximate aggregate amount of $236,640.


The real property is encumbered by a mortgage in the approximate
amount of $350,000 and  property taxes in the amount of $13,360 as
evidenced in the Property Taxing Authority's Proof of Claim Number
1, filed on Dec. 9, 2019.

The property's value as appraised by the Harris County Tax
Appraiser/Collector is currently $551,695.  The sales price by the
prospective Buyer is $600,000.  The Sales Price is as follows: (i)
Cash Portion Sales Price - $100,000, and (ii) Financing -
$500,000.

The DIP, Luis V. Escobedo, has been a realtor and real property
broker since 1991 and now working exclusively as a Real Estate
Developer and Investor since 2009 to present day.  It is the DIP's
professional opinion that the property at issue of this motion is
being sold for a fair and reasonable price in it's present
undeveloped state.

The Debtor will first apply the proceeds of the sale to the full
satisfaction of any and all other valid real property liens and
encumbrances.  Through the Escrow Officer for Declaration Title
Co., Houston, Texas, will deposit the required balance of the sales
proceeds in the approximate amount of $236,640 to the Undersigned
Attorney's Trust Account pending further Order of the Court to pay
in full all allowed, unsecured creditors with the remaining sales
proceeds paid to the Debtor’s Secured and Priority Creditors.

A hearing on the Motion was set for Jan. 21, 2020 at 10 a.m.  The
objection deadline was 21 days from the date of Notice service.

                 About Pestova Holdings

Pestova Holdings filed a voluntary Chapter 11 petition (Bankr. S.D.
Tex. Case No. 19-36737) on Dec. 3, 2019, and is represented by
Jesse Aguinaga, Esq., Attorney at Law P.C.  The Debtor listed under
$1 million in both assets and liabilities.



PHILADELPHIA ENTERTAINMENT: Claims Against Pa. Revenue Dept Tossed
------------------------------------------------------------------
Judge Magdeline D. Coleman of the U.S. Bankruptcy Court for the
Eastern District of Pennsylvania, in an opinion dated Dec. 31,
2019, dismissed pursuant to Federal Rule of Civil Procedure
12(b)(1) and (6), with prejudice Counts II, III, and IV of the
adversary complaint filed by Chapter 11 debtor and plaintiff
Philadelphia Entertainment and Development Partners, LP dba
Foxwoods Casino Philadelphia, against defendants Commonwealth of
Pennsylvania Department of Revenue, et al.

The Bankruptcy Court finds that (1) plaintiff's fraudulent transfer
claims are not barred by claim or issue preclusion, (2) plaintiff's
fraudulent transfer claims are barred by sovereign immunity, and
(3) even if sovereign immunity were inapplicable to the fraudulent
transfer claims, the plaintiff has failed to state a claim against
the Defendants.

The allegations of the complaint arising from the revocation of the
plaintiff's slot machine license, which allegation included not
just the fraudulent transfer claims, but also for turnover (Count
I), unconstitutional taking (Count V), unjust enrichment (Count
VI), and promissory estoppel (Count VII), could fairly be argued to
be an attempt to rehash the issues already decided by the
Commonwealth Court regarding the propriety and fairness of the
Gaming Control Board's decision to revoke the slot machine license.


On April 8, 2016, the Bankruptcy Court, granted the motion to
dismiss, or in the alternative, abstain, filed by the defendants,
with respect to the Debtor's adversary complaint.  The Court
dismissed Counts II, III, and IV of the plaintiff's complaints
against the defendants, under Sections 544, 548, and 550 of the
Bankruptcy Code and the Pennsylvania Uniform Fraudulent Transfer
Act, on grounds that the Rooker-Feldman doctrine divested the
Bankruptcy Court of jurisdiction to decide them.

In Counts II, III and IV, respectively, the Plaintiff asserted
that:

   (a) the Defendants are liable for a fraudulent transfer pursuant
to Section 548(a)(1)(B) of the Bankruptcy Code because the
revocation of the Defendants slot machine license was a transfer
for which the Debtor received no value, and defined revocation as
the Transfer.  The Plaintiff further alleged that the Debtor is
entitled to a judgment avoiding and preserving the Transfer.  

   (b) the Defendants are liable for the Transfer under Section
544(b) of the Bankruptcy Code and the PUFTA.

   (c) the amount of $50,000,000 should be turned over to the
Plaintiff, as an avoidable transfer.

The Bankruptcy Court's dismissal of the complaint was affirmed by
the United States District Court for the Eastern District of
Pennsylvania but reversed by the United States Court of Appeals for
the Third Circuit.  The Circuit Court concluded that the
Rooker-Feldman doctrine does not bar the Bankruptcy Court from
adjudicating the fraudulent transfer claims because in doing so,
the Bankruptcy Court does not need to review or reject the 2011
judgment of the Commonwealth Court of Pennsylvania denying the
Debtor's appeal of the revocation of its slot machine license by
the Pennsylvania Gaming Control Board.

The Circuit Court instructed that, on remand, the District Court,
or alternatively the Bankruptcy Court, address (i) whether claim or
issue preclusion bars judicial review of the plaintiff's claim that
revocation of the license was a constructively fraudulent transfer
under Sections 548(a)(1)(B) and 544 of the Bankruptcy Code and the
PUFTA; and if not, (ii) whether the plaintiff has stated a claim
that the revocation of the license was a constructively fraudulent
transfer under Sections 548(a)(1)(B) and 544(b) of the Bankruptcy
Code and the PUFTA; and (iii) whether the sovereign immunity
granted to States by the Eleventh Amendment bars judicial review of
the plaintiff's claim that revocation of the License was a
constructively fraudulent transfer under Sections 548(a)(1)(B) and
544(b) and the PUFTA.

On April 19, 2018, the District Court entered an order remanding
the case to the Bankruptcy Court for resolution of the issues on
remand and shortly thereafter, returned the record to the
Bankruptcy Court to allow said resolution to proceed.

At the hearing and in their brief on remand, the defendants argued
that (a) the fraudulent transfer claims should be dismissed because
they are barred by the defendants' sovereign immunity, (b) the
fraudulent transfer claims should be dismissed for failure to state
a claim because the Debtor did not have a property interest in the
License, and therefore the plaintiff could not meet a threshold
element of the fraudulent transfer claims, and (c) the fraudulent
transfer claims are barred by the doctrine of claim preclusion.

The plaintiff argued that the fraudulent transfer claims should not
be dismissed because (a) under United States Supreme Court
precedent, fraudulent transfer actions are excepted from the
Defendants' sovereign immunity, (b) the doctrines of claim
preclusion and issue preclusion do not bar the fraudulent transfer
claims, and (c) the fraudulent transfer claims state a claim for
which relief can be granted against the defendants because the
transfer at issue occurred within the statutory look-back period,
constituted a transfer of an interest in the Debtor's property, and
was made without the Debtor receiving reasonably equivalent value.


The defendants also argued in their brief on remand that the
fraudulent transfer claims failed to state a claim because the
Debtor received reasonably equivalent value for revocation of the
License.  The Bankruptcy Court, however, agrees with the plaintiff
that the reasonably equivalent value inquiry is fact-based and not
amenable to the motion to dismiss.

At the hearing, the parties also made arguments not previously made
or briefed, such as whether the license, pursuant to the
Pennsylvania's Statutory Construction Act of 1972, constituted the
property or an asset of the Debtor for purposes of fraudulent
transfer law.  The Court thereafter directed the parties to submit
supplemental briefs on their respective positions regarding that
issue.
  
In their Supplemental Brief, the Defendants argued that the
application of the Statutory Construction Act confirms that the
license did not constitute property or an asset of the Debtor for
purposes of the Fraudulent Transfer Claims because the plain
language of the Gaming Act confirms the Pennsylvania legislature's
intent that the license was only a revocable privilege, and any
conflicting language in the PUFTA does not supersede the clear
intent of the Gaming Act.

The plaintiff argued that the application of the Statutory
Construction Act confirms the license was property of the Debtor
because the language of the PUFTA, rather than the Gaming Act, is
clear that government-issued licenses are property for purposes of
that statute, even if not considered property for other purposes.
The plaintiff further argued there is no conflict between the
Gaming Act and the PUFTA as to whether the license was the Debtor's
property because the Gaming Act is limited in scope to the process
for obtaining a gaming license, but to the extent there is a
conflict, the PUFTA's provisions should prevail because it is a
statute special in nature dealing specifically with fraudulent
transfers.

Upon deliberation of the issues on remand, the Bankruptcy Court
found that:

     -- the Plaintiff's Fraudulent Transfer Claims are not barred
by claim or issue preclusion.

The Defendants argue that claim preclusion bars the plaintiff's
fraudulent transfer claims because the Debtor could have challenged
in the state proceedings the lack of value received in return for
revocation of the License.  Claim preclusion bars suit when three
elements are met: (1) a final judgment on the merits in a prior
suit involving (2) the same parties or their privies and (3) a
subsequent suit based on the same cause of action.

The Court has no difficulty concluding that the proceedings before
the Gaming Control Board and the Commonwealth Court resulted in
final judgments against the Debtor, and that the plaintiff and the
defendants are privies to the parties in those proceedings.  (In
the Gaming Control Board proceeding, the Debtor defended against
the state Bureau of Investigations and Enforcement's complaint
seeking revocation of the license pursuant to The Pennsylvania Race
Horse Development and Gaming Act).  The only issue to determine is
whether this action, now based only on the fraudulent transfer
claims, can be considered a suit based on the same cause of action
in the Gaming Control Board proceedings under the broad
understanding of that concept for claim preclusion purposes.  The
fraudulent transfer claims, however, are not causes of action that
are based on the claims that were or could have been litigated in
the state proceedings. They are therefore not barred by the
principle of claim preclusion.

Furthermore, the defendants argued that the plaintiff is
collaterally estopped from relitigating issues raised in the
proceedings before the Gaming Control Board and the Commonwealth
Court.  The Gaming Control Board and Commonwealth Court decisions
were rendered by Pennsylvania tribunals, and therefore Pennsylvania
law applies.

Under Pennsylvania law, an issue previously decided cannot be
relitigated when: (1) the issue decided in the prior case is
identical to the one presented in the later action; (2) there was a
final adjudication on the merits; (3) the parties in the later
proceeding are identical or in privity to those in the earlier
proceeding; (4) the party seeking to relitigate the issue decided
had a full and fair opportunity to litigate the issue in the prior
proceeding; and (5) the determination in the prior proceeding was
essential to the judgment.  

Whatever issues the Debtor, and now the Plaintiff, had or has with
the process and result in the Gaming Control Board and Commonwealth
Court litigation, the fraudulent transfer claims exist independent
of those issues.  The fraudulent transfer claims were not decided
in the prior case, nor would the insolvency and reasonably
equivalent value analysis underlying them have been essential to a
determination of the issue that was before those courts, i.e.,
whether the Debtor's license should be revoked.  The elements of
collateral estoppel under Pennsylvania law are not met, and it does
not apply to bar litigation of the fraudulent transfer claims.

     -- the plaintiff's fraudulent transfer claims are barred by
sovereign immunity, and that;

     -- even if sovereign immunity were inapplicable to the
fraudulent transfer claims, the plaintiff has failed to state a
claim against the Defendants under Sections 548(a)(1)(B), 544, and
550 of the Bankruptcy Code and the PUFTA because the license did
not constitute the property or an asset of the Debtor under
applicable Pennsylvania state law.

The Court initially noted that pursuant to United States Supreme
Court precedent in Central Virginia Community College v. Katz, 546
U.S. 356 (2006), a State's sovereign immunity is waived if a cause
of action is (1) an in rem cause of action, or (2) a cause of
action that is ancillary to a court's in rem jurisdiction.  

The Court concluded that the fraudulent transfer claims, seeking to
avoid revocation of the license, failed to implicate either of
these categories of causes of action because the license
constituted a revocable privilege under state law, rather than
"property of the Debtor," and therefore did not constitute a res to
which the Court's in rem jurisdiction attaches.  

A copy of the opinion dated Dec. 31, 2019 is available at
https://www.leagle.com/decision/inbco20200102371 from Leagle.com
free of charge.

Kenneth E. Aaron, Weir & Partners LLP, 1339 Chestnut Street, Suite
500, Philadelphia, PA 19107, Stuart M. Brown, Cozen O'Connor, One
Liberty Place, 1650 Market Street, Suite 2800, Philadelphia, PA
19103, Frederic WAarren Jacoby, Cozen O'Connor, One Liberty Place,
1650 Market Street, Suite 2800, Philadelphia, PA 19103, counsel for
Philadelphia Entertainment and Development Partners, L.P., Debtor.

Kevin P. Callahan, United States Trustee, 833 Chestnut Street,
Philadelphia, PA 19106, counsel for United States Trustee, U.S.
Trustee.

                About Philadelphia Entertainment
                 and Development Partners, L.P.

Philadelphia Entertainment and Development Partners, L.P., filed a
Chapter 11 bankruptcy petition (Bankr. E.D. Pa. Case No. 14-12482)
on March 31, 2014.  Brian R. Ford signed the petition as authorized
signatory.  The Debtor estimated assets of at least $10 million and
liabilities of at least $50 million.  DLA Piper LLP (US) serves as
the Debtor's counsel.  Judge Magdeline D. Coleman oversaw the
case.

Philadelphia Entertainment and Development Partners, L.P., notified
the Bankruptcy Court that the Effective Date of its First Modified
Chapter 11 Plan of Liquidation occurred on Aug. 18, 2014.  The
bankruptcy judge on July 28, 2014, confirmed the Plan dated as of
March 10, 2014; as modified on May 27.



PINECREST ACADEMY: S&P Affirms BB+ Rating, Alters Outlook to Neg.
-----------------------------------------------------------------
S&P Global Ratings revised its outlook to negative from stable and
affirmed its 'BB+' rating on Arizona Industrial Development
Authority's series 2018A (tax-exempt) and 2018B (taxable) education
revenue bonds, issued for Pinecrest Academy of Nevada (Pinecrest
Academy). At the same time, S&P Global Ratings assigned its 'BB+'
long-term rating to Arizona Industrial Development Authority's
series 2020A (tax-exempt) and series 2020B (taxable) education
revenue bonds, issued for Pinecrest Academy.

"The negative outlook reflects our view of Pinecrest Academy's
significantly leveraged financial position," said S&P Global
Ratings credit analyst Robert Tu. "When incorporating the current
issuance and the existing series 2018 Sloan Canyon debt,
Pinecrest's existing debt will more than double," Mr. Tu added.

The approximately $41.1 million series 2020A and series 2020B bonds
will be used to purchase the Cadence campus facility from its
current developer and landlord--the School Development South
Boulder LLC for Horizon and the Turner-Agassi Charter School
Facilities Fund.

Pinecrest Academy operates five campuses in the Las Vegas area, all
under the same charter. The first campus, Horizon, opened in the
2012-2013 academic year and the school has rapidly expanded to four
more campuses growing enrollment to over 6,000 students in
kindergarten through 12th grade (K-12), although a majority of its
campuses are K-8. The Cadence and Sloan Canyon campus will
eventually build out high school grades over the next few years.
The school utilizes a common core curriculum, but also offers a
STEAM (Science, Technology, Engineering, Arts and Mathematics)
program. In 2018, Pinecrest Inspirada received the governor's
designation of "Nevada STEM School".



PINNACLE OPERATING: S&P Lowers ICR to 'SD' on Acquisition
---------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on Pinnacle
Operating Corp. (Pinnacle) to 'SD' (selective default) from 'CCC'
and its issue-level rating on the 1.5-lien notes to 'D' from 'CC'.

Pinnacle was acquired by an unrated company in a transaction that
Pinnacle reported closed, effective Jan. 16, 2020.

As part of the acquisition, Pinnacle Operating Corp. repaid its
first-lien term loan and second-lien notes in full. However, S&P's
understanding is that Pinnacle repaid only a portion of the amount
outstanding on its 1.5-lien notes. As per the original terms of the
notes due 2023, Pinnacle had 30 days following a change in control
to meet its obligations. S&P understands that the change-of-control
date was Jan. 16, 2020, on which date Pinnacle and the noteholders
agreed for a payment of less than the principal amount outstanding,
and the notes were cancelled. In light of the cancellation, S&P
believes the obligations will not be paid in full, per original
terms, within a 30 day period following the change in control.  The
rating agency considers this to be tantamount to a default.


PLATINUM OILFIELD: Hires Malloy Law Firm as Special Counsel
-----------------------------------------------------------
Platinum Oilfield Services, LLC, seeks authority from the U.S.
Bankruptcy Court for the Eastern District of Oklahoma to employ
Malloy Law Firm P.C., as special counsel to the Debtor.

Platinum Oilfield requires Malloy Law Firm to:

   -- establishg that Lauren Habermehl ("Habermehl") was and is
      the de facto manager of the Debtor in these proceedings;

   -- seek declaratory judgment that neither HD Outdoor, LLC, or
      any related entity, is a creditor;

   -- pursue avoidance of claims against HD Outdoor, LLC, or
      related entities; and

   -- pursue claims to avoid the secured claim of First United
      Bank and Trust of Durant.

Malloy Law Firm will be paid at the hourly rate of $350. Malloy Law
will be paid a retainer in the amount of $20,000. It will also be
reimbursed for reasonable out-of-pocket expenses incurred.

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

Malloy Law Firm can be reached at:

     Patrick J. Malloy III, Esq.
     MALLOY LAW FIRM P.C.
     401 S. Boston Ave., Suite 500
     Tulsa, OK 74103
     Tel: (918) 699-0345

                About Platinum Oilfield Services

Platinum Oilfield Services, LLC filed a voluntary Chapter 11
petition (Bankr. E.D. Okla. Case No. 19-81492) on December 31,
2019, and is represented by Teddy J. Abbott, Esq., at Abbott Law
Office, LLC.  The Debtor was estimated to have under $1 million in
both assets and liabilities.


PLEASANTON FITNESS: Selling Gym Equipment to Fitness 1080 for $75K
------------------------------------------------------------------
Pleasanton Fitness, LLC, asks the U.S. Bankruptcy Court for the
Northern District of California to authorize the sale of exercise
equipment from gym at 1570 Hamilton Ave, San Jose, California to
Fitness 1080, Inc. for $75,000, cash and free of contingencies.

The terms of sale are provided in the bill of sale.  The property
to be sold consists of: approximately 200 pieces of fitness
equipment.  There is no known relationship between Fitness 1080 and
the Debtor.  The equipment was appropriately marketed, generating
multiple offers.  The offer of Fitness 1080 is the highest and best
offer received.  The Property is sold as-is, where-is and
with-all-faults.

The equipment is free of any liens or encumbrances, the
purchase-money loans or leases thereof having been paid in full
some time ago.

The Motion does not request approval of any broker's commission or
similar compensation.

The Debtor asks that the provisions of Rule 62(a) of the Federal
Rules of Civil Procedure and Rule 6004(h) of the Federal Rules of
Bankruptcy Procedure that would stay the order approving the sale
be waived under the circumstances.  Cause exists to waive these
stays because the Debtor will no longer operate its gym where the
Property is located.  The longer the Property remains at that
location, the more exposed the estate is to avoid expenses.  

The Debtor asks approval of the sale as a private sale pursuant to
Rule 6004(f)(1) of the Federal Rules of Bankruptcy Procedure
without opportunity for overbid.  In the event the Court requires
an opportunity for overbid, the Debtor asks that the Court approve
and employ the following bidding procedures:

     a. The auction will be held at the same time and place as the
hearing, or at another time or location if ordered by the Court and
announced at the aforesaid time and place.   

     b. Overbids will be made in increments of at least $5,000.

     c. All potential bidders must present evidence of funds or
financing acceptable to the Debtor in an amount necessary to meet
the initial bid of $75,000 plus the minimum initial overbid amount,
for a total of $80,000.

     d. Secured creditors will be afforded any rights to credit bid
to which they are otherwise entitled under the Bankruptcy Code and
applicable law. There are, however, no known security interest in
the Property.  

     e. Bids will be accepted from bidders or their authorized
representatives who are present at the auction in person; bids by
telephone, facsimile, email, letter or similar means will not be
accepted unless otherwise determined that doing so will benefit the
estate.

     f. The sale will be on an "as is, where is," and "with all
faults" basis.

     g. All bids will be on terms equivalent to or better than the
terms provided in the Agreement, including terms with respect to
due diligence, inspections, contingencies and the time for closing
(if any).

     h. The highest and best bid will be reduced to a written
agreement three calendar days following the hearing on approval of
the sale.  At auction, the Debtor may accept the next highest and
best bid as a backup bid, with the consent of the bidder, which
will be
approved to the same extent as the winning bid provided that the
backup bid will be consummated only if the Debtor determines s
determine that the sale to the winning bidder has failed.

The most likely alternative to the proposed sale is for the
Property to be abandoned, resulting in no benefit to the estate. If
the exercise equipment cannot be sold, the Debtor has no present
use for it, and storage costs would be an unwarranted burden upon
the estate.  Accordingly, the Debtor has determined that the
proposed sale is in the best interests of the estate.

                     About Pleasanton Fitness          

Pleasanton Fitness, LLC, owns and operates a fitness center in
Livermore, Calif.

Pleasanton Fitness sought Chapter 11 protection (Bankr. N.D. Cal.
Case No. 19-41949) on Aug. 27, 2019.  At the time of the filing,
the Debtor was estimated to have assets in the range of $1 million
to $10 million and $10 million to $50 million in debt.  The case is
assigned to Judge Roger L. Efremsky.  The Debtor tapped Reno F.R.
Fernandez, Esq., at MacDonald Fernandez LLP, as counsel.



PONCE REAL ESTATE: In Talks With Triangle; Unsecureds to Get 100%
-----------------------------------------------------------------
Ponce Real Estate Corporation filed an Amended Chapter 11 Plan of
Reorganization and an Amended Disclosure Statement.

The Debtor has presented two offers to creditor Triangle REO PR,
Corp. and continues to communicate and engage with Triangle to work
out a settlement amenable to both parties.  Such a settlement could
expedite the confirmation and conclusion of this bankruptcy
proceeding.  The settlement may include or more of the following
alternatives:

   a. Transfer of Debtor's collaterals encumbered by Triangle.

   b. Transfer title and possession to Triangle of unencumbered
properties of Debtor and/or their guarantors, free and clear
pursuant to Sections 363 and 1146 of the Bankruptcy Code, to add
new value to Triangle's collaterals and/or cover the value
deficiencies of its secured claim, meaning at least the value of
Triangle's interest in the estate's interest in such property, or
the indubitable equivalent of its secured claim, as stipulated or
as determined by the Court in the event an objection is filed to
Triangle's Claim.

   c. Payment from proceeds of financing or sale of the property
located at the Encarnacion Ward a/k/a/ Tallaboa, in Penuelas,
Puerto Rico, or other properties outside the normal course of
business until.

The Plan proposes to treat claims as follows:

   * CLASS 2 - SECURED CLAIM 4: MORTGAGE NOTES SUBSCRIBED BY DEBTOR
AND HELD BY TRIANGLE REO PR CORP. IMPAIRED. Triangle REO PR Corp.,
serviced by Capital Crossing Puerto Rico, LLC, filed its Proof of
Claim No. 4 in the total amount of $4,104,387 at an annual interest
rate of 4.25%, as fully secured. The mortgage notes and cash
equivalent or current value sums to approximately $1,276,420 which
will be payable to Triangle REO PR Corp., to cover the secured
portion of Claim 4 in the amount of $1,194,000.

   * CLASS 4 – TRIANGLE UNSECURED PORTION OF CLAIM 4 - DEFICIENCY
CLAIM HELD BY TRIANGLE REO PR CORP. IMPAIRED. This claim is
forecasted to receive 100% in cash equivalents providing
unencumbered properties of the estate and unencumbered properties
belonging to the guarantors, to be transferred to Triangle as
additional new value and consideration for the realization of the
indubitable equivalent of claim number 4.

   * CLASS 5 - GENERAL UNSECURED CLAIMS. IMPAIRED. The total amount
of unsecured claims allowed as per the claims is broken down as
follows:

     a. Claim 1 – CRIM: $79,626.32
     b. Claim 2 – Puerto Rico Telephone/Claro: $3,343.66
     c. Claim 3 – State Insurance Fund: $1,416.08

     On the Effective Date of the Plan, claimants shall receive
from the Debtors a nonnegotiable, annual interest bearing at 3.25%
promissory note, dated as of the Effective Date, providing for a
total allowed amount of $81,386.06, which shall be payable in one
lump sum payment on or before the end of the second year. The
proposed dividend payable to this class through the plan exceeds
100% of the allowed General Unsecured Claims.

A look at the projected income does not demonstrate that Debtor can
reorganize and comply with the best interest of creditors with the
regular income from the operation of Debtor's real property rental
business.  Therefore, the Debtor will finance or sell retained
property to provide the funds to satisfy all secured real property
taxes owed—including the real property taxes of realties
surrendered and transferred to Triangle REO PR Corp. in order to
transfer free and clear—but also to pay all unsecured portions of
real of real property taxes and all other general unsecured
claims.

A full-text copy of the Disclosure Statement dated Jan. 22, 2020,
is available at https://tinyurl.com/v65ayvq from PacerMonitor.com
at no charge.

Counsel for Debtor:

     EDGARDO MANGUAL GONZÁLEZ
     JOSE L. JIMENEZ QUINONES
     EMG Despacho Legal, C.R.L.
     Edificio La Electrónica
     1608 Calle Bori, Suite 212
     San Juan, Puerto Rico 00927
     Tel: (787) 753-0055
     Fax: (787) 767-5015
     E-mail: lcdomangual@gmail.com
     E-mail: lcdojosejimenez@gmail.com

                About Ponce Real Estate Corp.

Ponce Real Estate Corp. as registered in the Department of State of
Puerto Rico on February 11, 1955, under registry number 4514, as a
domestic for-profit-corporation, operating the business of owning
to lease real estate properties for commercial and/or residential
purposes.   Its principal place of business is located at 49 Mendez
Vigo Street, Ponce, Puerto Rico 00730, which is property of PRE.
Mr. Francisco I. Vilarino Rodríguez a/k/a Frank Vilarino is the
the sole owner and president.

Ponce Real Estate Corp. sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D.P.R. Case No. 18-06805) on Nov. 24, 2018.
At the time of the filing, the Debtor estimated assets of $1
million to $10 million and liabilities of the same range. The
Debtor tapped EMG Despacho Legal, CRL as its legal counsel, and
Tamarez CPA, LLC as its accountant.


PRINCETON AVENUE: Unsecured Creditors to Get $36,000 Over 4 Years
-----------------------------------------------------------------
Debtor Princeton Avenue Group, Inc., filed with the U.S. Bankruptcy
Court for the District of New Jersey a Plan of Reorganization and a
Disclosure Statement.

The Plan proposes to pay $1,805.55 each month to the holder of the
tax lien certificate against the Property for six years for a total
of $130,000 and $750 each month to unsecured creditors for four
years for a total of $36,000 over the life of the Plan.  As the
Debtor's financial projections demonstrate, Debtor will have an
average cash flow, after paying operating expenses and
post-confirmation taxes, of $3,227 each month for the four years of
the Plan.  The final Plan payment is expected to be paid on March
1, 2025.

The Plan will be funded by the following: post-confirmation revenue
of the Debtor as well as cash on hand.

Princeton Avenue Group, Inc., will continue to manage its property
and assets following the Confirmation of the Plan.  Princeton
Avenue Group, Inc., shall act as the disbursing agent for the
purpose of making all distributions provided for under the Plan.
The Disbursing Agent shall be compensated as set forth in the
Plan.

A full-text copy of the disclosure statement dated January 14,
2020, is available at https://tinyurl.com/urobyd4 from
PacerMonitor.com at no charge.

                     About Princeton Avenue

Princeton Avenue Group, Inc., is the fee simple owner of a property
located at 1301 Kings Highway, Swedesboro having an appraised value
of $710,000.

Princeton Avenue Group filed a Chapter 11 bankruptcy petition
(Bankr. D.N.J. Case No. 19-19841) on May 14, 2019.  At the time of
filing, Debtor disclosed total assets of $722,600 with total
liabilities of $2,020,505.  The case is assigned to Hon. Jerrold N.
Poslusny Jr.  The Debtor's counsel is Ellen M. McDowell, Esq. of
MCDOWELL LAW, PC.


PUGNACIOUS ENDEAVORS: S&P Cuts Sec. Credit Facility Rating to 'B'
-----------------------------------------------------------------
S&P Global Ratings lowered its issue-level rating on Pugnacious
Endeavors Inc.'s senior secured credit facility to 'B' from 'B+'
and revised its recovery rating on the facility to '3' from '2'.
The '3' recovery rating indicates its expectation for meaningful
recovery (50%-70%; rounded estimate: 50%) of principal in a
hypothetical payment default.

S&P lowered its issue-level rating and revised its recovery rating
on the senior secured credit facility to reflect the company's
revised proposed capital structure, which now comprises an undrawn
$125 million revolving credit facility and a $2.2 billion
dual-currency term loan. The previously proposed capital structure
included a senior secured credit facility comprising a $1.48
billion first-lien senior secured term loan, an undrawn $100
million revolving credit facility, and $325 million of second-lien
senior secured notes. The company is also reducing its proposed
preferred equity issuance to $400 million from $600 million. S&P
believes these changes have reduced the recovery prospects for the
upsized senior secured credit facility relative to its estimated
enterprise value at default.

S&P's 'B' issuer credit rating and stable outlook on Pugnacious
remain unchanged because the revised terms will not substantially
increase the company's total adjusted debt. The rating agency
continues to expect the combination of StubHub and Viagogo to
generate positive organic revenue growth while eliminating
duplicative costs and pursuing substantial cost efficiencies, both
of which will expand its EBITDA margins over the next two years. As
it realizes these large synergy opportunities and increases its
revenue over the next two years, S&P expects the company's leverage
to decline to the high-5x area in 2021 from over 9x in 2020. The
rating agency also expects the company's free operating cash flow
(FOCF) to debt to improve to the mid-teen percent area in 2021 from
the mid-single-digit percent area in 2020.

ISSUE RATINGS--RECOVERY ANALYSIS

Key analytical factors

-- S&P's simulated default scenario contemplates a payment default
occurring in 2023 due to a loss of revenue and market position from
regulatory actions, competition from larger primary ticketing
peers, and an economic downturn combined with delays in the
integration of, and lower synergy realization from, the StubHub
acquisition.

-- S&P believes the company's lenders would pursue a
reorganization rather than a liquidation in a hypothetical default
due to StubHub's favorable brand reputation, technology-enabled
secondary ticket buying platform, and significant
customer-to-customer seller base.

-- Pugnacious' capital structure comprises a senior secured credit
facility that includes a $125 million revolving credit facility
maturing in 2025 and a $2.2 billion dual-currency term loan
maturing in 2027.

-- PUG LLC, a direct subsidiary of Pugnacious Endeavors Inc., is
the borrower of the senior secured debt facility. PUG and all its
material domestic subsidiaries guarantee the secured debt. The
secured debt benefits from a lien on substantially all of the U.S.
assets of the borrower and guarantors (about 75% of S&P's emergence
enterprise value) and 65% of the capital stock of each foreign
subsidiary.

-- Other default assumptions include an 85% draw on the revolving
credit facility, LIBOR is 2.5%, and all debt amounts include six
months of prepetition interest.

Simulated default assumptions

-- Simulated year of default: 2023
-- Emergence EBITDA: About $195 million
-- Implied enterprise value multiple: 6.5x

Simplified waterfall

-- Net enterprise value (after 5% administrative expenses): $1.2
billion
-- Total senior secured debt claims: $2.3 billion
-- Recovery expectations: 50%-70% (rounded estimate: 50%)


RAM DISTRIBUTION: Seeks OK of $250K DIP Loan from Main Street
-------------------------------------------------------------
Ram Distribution Group LLC dba Tal Depot seeks authority from the
Bankruptcy Court to obtain $250,000 of post-petition financing from
Main Street Capital Group LLC so that it may reorganize and
maximize value for all creditors and parties-in-interest.  

The loan will be payable in 24 months, at 15.99% interest per
annum.  Interest will accrue after 90 days of funding and will be
due and payable on the first day of every month.  A copy of the
loan agreement is available free of charge at https://is.gd/EP0Iio
from PacerMonitor.com.

The Debtor seeks that:
    (a) The DIP facility will have a super priority first position
lien on all causes of action commenced by the Debtor pursuant to
Chapter 5 of the Bankruptcy Code, which causes of action are not
currently encumbered by any lien from any creditor.

    (b) The lender is granted a super priority and priming lien on
all other causes of action commenced by the Debtor. The only lien
currently encumbering other causes of action is that of its
pre-petition lender, KeyBank National Association.   

Before the Petition Date, the Debtor is a party to financing
arrangements with pre-petition lender relating to a $600,000 note
and a $1,250,000 note.  As of the Petition Date, the Debtor owes
approximately $594,740.52 and $1,050,86.35 under the pre-petition
loan agreements, exclusive of accrued and unpaid interest.  The
Debtor seeks for the DIP lender to prime the pre-petition lender.

    (c) The lender will hold a second position lien (junior to
pre-petition lender), on all of the Debtor's other remaining
assets, including the Debtor's cash and cash equivalents, accounts,
inventory, equipment, fixtures, general intangibles, documents,
instruments, chattel paper, deposit accounts, letter-of-credit
rights, investment property and books and records relating to any
assets of the Debtor.  The DIP lender is seeking to prime all other
creditors claiming to have a lien on these assets.

A copy of the motion is available at https://is.gd/6jptPV from
PacerMonitor.com at no charge.

A hearing on the motion is set for Feb. 13, 2020 at 11 a.m.  

                   About Ram Distribution Group

Tal Depot owns and operates an e-commerce website at
https://taldepot.com that sells snacks, drinks, groceries, wellness
and home goods products.

Ram Distribution Group, LLC, d/b/a Tal Depot, filed for Chapter 11
bankruptcy protection (Bankr. E.D.N.Y. Case No. 19-72701) on April
12, 2019.  In the petition signed by CEO Jeremy J. Reichmann, the
Debtor was estimated to have  $100,000 to $500,000 in assets and
$10 million to $50 million in and liabilities.  

Btzalel Hirschhorn, Esq., at Shiryak, Bowman, Anderson, Gill &
Kadochnikov LLP is the Debtor's counsel.  Analytic Financial Group,
LLC, d/b/a Corporate Matters, serves as financial advisors to the
Debtor.


RECORDED BOOKS: Moody's Affirms B3 CFR, Outlook Stable
------------------------------------------------------
Moody's Investors Service affirmed Recorded Books, Inc Corporate
Family Rating at B3 and upgraded the Probability of Default Rating
to B3-PD, from Caa1-PD in conjunction with announced acquisition of
OverDrive, Inc. by KKR from Rakuten and its contemplated
combination with RBdigital, which will be managed under the same
organizational parent entity as RBmedia and audiobooks.com. The
acquisition of OverDrive will be financed through a planned
incremental first lien term loan debt raises of $350 million and
equity contribution by the sponsor. Moody's affirms the B3 rating
on the upsized $681 million first lien senior secured term loan,
and the $70 million committed pari-passu revolving credit facility,
which will be upsized from $30 million. The term loan is secured by
a 1st lien on substantially all assets, including tangible and
intangible assets of the borrower's U.S. subsidiaries, 100% of the
capital stock of U.S. subsidiaries and 65% of the stock in foreign
subsidiaries. The terms of the incremental facilities will be
similar to those of existing credit facilities, but adds Aragorn
Parent Corporation as the co-borrower. The rating outlook is
stable.

A summary of the actions follows:

Issuer: Recorded Books, Inc

Corporate Family Rating -- Affirmed, B3

Probability of Default Rating -- Upgraded to B3-PD from Caa1-PD

First-Lien Senior Secured Revolver due 2023 -- Affirmed, B3 (LGD3)

First-Lien Senior Secured Term Loan due 2025 -- Affirmed, B3
(LGD3)

Outlook: Stable

The assigned ratings are subject to review of final documentation.

RATINGS RATIONALE

RBmedia's B3 CFR reflects governance risks with its private equity
ownership, and aggressive financial policies that tolerate high
leverage. Pro forma for the incremental debt that will be raised to
acquire OverDrive, Moody's projects the leverage ratio (Moody's
adjusted pro forma total Debt/EBITDA, including expensing
capitalized pre-publication costs) will be near 7.8x, up from 6.4x
pre-close. Moody's expects leverage to fall to approximately 6x
TD/EBITDA over the next two years, as RBmedia grows its revenue and
executes approximately $10 million in cost savings. In addition,
Moody's believes that while the combination of the two companies
adds diversity in the revenue model, and increases the size of the
business, its scale remains small relative to higher-rated, larger
peers. Moody's also believes there are operating risks, economic
risks, and integration risks that could produce less favorable
results than expected. With only moderate margins, cash conversion,
although improved following the combination, will remain limited
and a constraint to financial flexibility.

Despite the constraints, Moody's views the acquisition of OverDrive
positively. It's transformative to RBmedia's business model,
providing it with a broader and more resilient revenue stream, with
stronger free cash flow driven by relatively low capital
expenditure needs. OverDrive has an established market position and
is the market leader in providing digital media content (E-books in
particular) to public libraries. Moody's expects RBmedia to
continue generating strong revenue growth, over 10%, driven in part
by a long-term contract with a major audiobook distributor which
guarantees minimum payments and escalations. RBmedia and OverDrive
are also benefiting from secular expansion in digital media, with
expansion in both the audiobook and e-book markets, driven by
growth in content creation, digital consumption, and delivery
mechanisms (mobile devices).

The B3 rating on the 1st lien senior secured term loan and
revolving credit facility is in line with the Corporate Family
Rating as it the facility comprises all of the funded debt. Based
on the collateral package, the capital structure, the covenant-lite
nature of the credit facility, and the addition of highly valued
assets, Moody's expects an average recovery in a default scenario.
As a result, Moody's upgraded the Probability of Default to B3-PD.

RBmedia is exposed to social risks. The Company's access to
readership data exposes it to incremental data privacy risks in the
event that there is a data breach of library patron readership and
listening habits. However, the Company also benefits from
demographic and social shifts of content consumption via digital
and mobile methods, and increased demand for spoken word content
which allows consumers to multi-task while listening to a variety
of genres in the expanding audiobook market. Moody's also notes
moderate governance risk with private equity ownership and control,
and an aggressive financial policy which tolerates high leverage
and is motivated to extract a return on its very significant
investment which may be in lieu of de-levering.

Moody's expects the Company to maintain good liquidity, supported
by $20-$30 million in free cashflow, and access to a $70 million
revolver comfortably covering anticipated interest expense. There
are no financial covenants under the term loan, and the revolving
credit facility has a springing net first lien leverage covenant
when 35% of the revolver is drawn. The covenant is set wide, at 8.5
times net first lien leverage with no step-downs, providing
significant cushion to the 4.3x leverage ratio pro-forma for the
transaction. The company's contractual revenue guarantee with a
major digital audiobook retailer offers some visibility into its
revenue and EBITDA.

The stable rating outlook reflects Moody's view that the company
will maintain its strong position within the digital audio content
production and digital media distribution businesses. Moody's
anticipates that revenue will continue to expand mid-to-high single
digits driven by robust demand for audiobooks, cross-sell
opportunities via OverDrive platform and contractually agreed
increases in revenue, partially offset by expected higher aggregate
content production costs. Moody's expects some incremental
improvement in margins due to reduction in duplicative expenses,
and lower leverage through cash EBITDA growth, reaching
approximately 7x by the end of 2020.

Ratings may be upgraded if leverage is sustained below 6x (Moody's
adjusted TD/EBITDA, including expensing capitalized pre-publication
costs). An upgrade would also be contingent on the Company
continuing to grow revenue and cash EBITDA as anticipated at the
close of the acquisition. Management's commitment to a more
conservative financial policy, larger scale, and improved liquidity
would also be needed for RBmedia to be considered for an upgrade.

Ratings could be downgraded if leverage is sustained above 7x
(Moody's adjusted pro forma gross TD/EBITDA including expensing
capitalized pre-publication costs). A downgrade would also be
considered if RBmedia experiences a sustained reduction in its
revenue trajectory, loses a major distribution contract, generates
weak returns on content investment or liquidity worsens.

The principal methodology used in these ratings was Media Industry
published in June 2017.
Recorded Books, Inc is a digital audiobook and related spoken word
content producer with over 47,000 titles in its portfolio. The
company distributes its products through third-party digital
retailers and via contracts with various libraries. In addition,
the company distributes its own and third-party content via its
owned subscription based digital audiobook store. Overdrive is a
digital content distribution platform primarily used by libraries,
schools and corporations, hosting e-books and audiobooks. OverDrive
obtains distribution rights from a broad variety of publishers, and
generates revenue from selling this publisher content to libraries
through its digital marketplace. For FY 2019, combined entity would
have generated approximately $450 million in revenue.


RECORDED BOOKS: S&P Affirms 'B-' ICR on Acquisition of Overdrive
----------------------------------------------------------------
S&P Global Ratings affirmed its 'B-' issuer credit rating on
Recorded Books Holdings Inc. and its issue-level ratings on the
first-lien term loan facility. S&P's '3' recovery rating is
unchanged.

RBmedia is issuing an add-on of $350 million to its first-lien term
loan to fund the acquisition of OverDrive Inc., the remainder
funded by an additional equity contribution from KKR & Co. Inc.

The acquisition of OverDrive will improve the company's revenue
diversity by significantly expanding its capabilities in digital
library distribution. OverDrive provides a proprietary platform
serving libraries, allowing users digital access to e-books,
audiobooks, and other digital media. It is also one of the leading
distributors of digital content to libraries globally. RBmedia's
library (RBdigital) segment will be combined into the OverDrive
segment.

The stable outlook reflects S&P's expectation that while leverage
will initially be elevated above 7x in 2020, the rating agency
expects it to decline to the low-6x area in 2021 from lower
one-time costs and organic revenue and EBITDA growth in both the
RBmedia and OverDrive segments. The outlook also reflects S&P's
expectations that FOCF to debt will be about 3%, within the rating
agency's threshold for the ratings, over the next 12 months.

"We could lower our ratings on RBmedia if the company encounters
significant liquidity pressures, including insufficient FOCF
generation to meet its fixed charges, such that we would view its
capital structure as unsustainable. This could occur if intense
competition reduces audiobook rights and subscribers to its DTC
offering, or if OverDrive faces unexpected customer attrition
against increasing competition," S&P said.

"We could raise our rating if the company executes its integration
of OverDrive such that revenue diversification improves while
maintaining revenue growth at a mid-single-digit percentage rate.
In addition, we could also raise the rating if FOCF to debt is
sustained above 5% and adjusted leverage declines and remains below
6x. Any upgrade would also require RBmedia to commit to a less
aggressive financial policy," the rating agency said.



REIHNER ENTERPRISES: U.S. Trustee Shows Deficiencies in Disclosures
-------------------------------------------------------------------
Andrew R. Vara, United States Trustee for Region 9, filed an
objection to Reihner Enterprises, Inc.'s Joint Disclosure Statement
and Plan.

The United States Trustee points out that the Debtor's Disclosure
Statement fails to provide adequate information to enable a
hypothetical investor typical of holders of claims or interests of
the relevant class to make an informed judgment about the Plan.

The U.S. Trustee further points out that Debtor has not submitted
an order to set a bar date in this case.

According to United States Trustee, Debtor's Disclosure Statement
provides that general unsecured claims will be paid "the rate of
25% over five years as shown in Debtor's projections."  However,
Debtor's projections provide that general unsecured creditors will
be paid over 35-months, not five-years.

The United States Trustee asserts that the proposed definition for
the term "allowed claim or interest" may be confusing to parties in
interest.  Therefore, the United States Trustee has proposed a
modification of the defined term to Debtor.

The United States Trustee complains that, prepetition, the Debtor
was engaged with litigation, as a defendant, with Michael Hughes.
On the Petition Date, the matter was pending.  However, the
Disclosure Statement neither references the litigation nor provides
how the outcome of the litigation may impact distributions to
creditors.

The United States Trustee points out that the Disclosure Statement
does not provide any detail regarding post-confirmation management
and  compensation as required by sections 1123(a)(7) and 1129(a)(5)
of the Bankruptcy Code.

The United States Trustee further points out that the Debtor’s
monthly operating reports demonstrate that Debtor's business does
not consistently operate at a positive net cash flow.

Trial Attorney for the U.S. Trustee:

     Tiiara N. A. Patton
     United States Department of Justice
     Office of the United States Trustee
     Howard M. Metzenbaum U.S. Courthouse
     201 Superior Avenue E, Suite 441
     Cleveland, Ohio 44114
     Tel: (216) 522-7800 ext. 250
     Fax: (216) 522-7193
     E-mail: tiiara.patton@usdoj.gov

                    About Reihner Enterprises

Reihner Enterprises, Inc., sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. N.D. Ohio Case No. 18-16436) on Oct.
25, 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 Arthur I. Harris oversees the case.  The Debtor
tapped Forbes Law LLC as its legal counsel.


REJUVI LABORATORY: Unsec. Creditors to Recover 100% in Plan
-----------------------------------------------------------
Rejuvi Laboratory, Inc., filed a Combined Chapter 11 Plan and
Disclosure Statement that says general unsecured creditors will
recover 100 cents on the dollar.

The Plan provides:

   * Class 2(a) Unsecured Claim of Borelli Investment Co. IMPAIRED.
Total claim $3,426.  To be paid in lump sum without interest 90
days from Effective Date.

  * Class 2(b) Claim of creditors Warwick and Olson. IMPAIRED.
Upon the Effective Date, Warwick and Olson may proceed with the
litigation provided that their recovery will be limited to any
insurance policy proceeds.

  * Class 2(c) Claim of Maria Corso. IMPAIRED. Total claim
$1,242,240.  Once the amount of Corso's claim is determined by a
court of competent jurisdiction and that determination is final for
all purposes, Rejuvi will pay the claim in full pursuant to the
following schedule: $200,000 within 30 days of the claim being
allowed and any such ruling becoming final; $100,000 per year to be
paid quarterly beginning three months from the $200,000 payment
until the claim is paid in full.

  * Class 2(d) Other General Unsecured Claims. IMPAIRED. Total
claim $180,271.92.  These creditors, other than Wei "Wade" Cheng,
shall receive payment of their claims in full 90 days from the
Effective Date without any interest accruing on the claim, unless
such claim is in dispute, in which case the claim will be paid once
it is allowed and the determination of such allowance is final.
With respect to Mr. Cheng's claim, it will not be paid until one
year from the Effective Date or such later date as Debtor
determines in its business judgment is appropriate.

A full-text copy of the Combined Plan of Reorganization and
Disclosure Statement dated Jan.24, 2020, is available
at https://tinyurl.com/se2uhor from PacerMonitor.com at no
charge.

               About Rejuvi Laboratory Inc.

Founded in 1988 by Dr. Wade Cheng, Rejuvi Laboratory, Inc. --
http://www.rejuvilab.com/-- is an integrated cosmetic laboratory
with ongoing research, development and production capability.

Rejuvi Laboratory sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Cal. Case No. 18-31069) on Sept. 27,
2018.  In the petition signed by Wei Cheng, president, the Debtor
disclosed $2,870,211 in assets and $1,357,213 in liabilities.
Judge Dennis Montali presides over the case.


REVA MEDICAL: Feb. 18 Hearing on Prepackaged Plan & Disclosures
---------------------------------------------------------------
REVA Medical Inc. filed a proposed prepackaged Chapter 11 plan and
disclosure statement explaining its plan in the U.S. Bankruptcy
Court for the District of Delaware.

The Debtor is proposing a financial restructure that, pursuant to
the plan, will provide substantial benefits to the Debtor and all
of its stakeholders.  The restructuring will leave the Debtor's
business intact and substantially de-levered, providing for
reduction of over $90 million of the Debtor's existing debt.  The
plan also enhances the Debtor's near-term liquidity through a
through two exit financing facilities provided by certain of the
Debtor's lenders.  This deleveraging and recapitalization will
enhance the Debtor's long-term growth prospects and competitive
position and allow the Debtor to emerge from its Chapter 11 case as
a reorganized entity quickly and continue to provide leading
bioresorable polymer technologies to its clients and partners well
into the future.

A combined hearing to consider the compliance with the bankruptcy
code's disclosure requirements and any objection, and to consider
confirmation of the Debtor's plan will be held before the Hon. John
T. Dorsey of the U.S. Bankruptcy Court at 824 Market Street, 5th
Floor, Wilmington, Delaware 19801, on Feb. 18, 2020, at 1:00 p.m.
(Eastern Standard Time/GMT-5:00).  Objections, if any, must be
filed no later than 12:00 p.m. (Eastern Standard Time/GMT-5:00) on
Feb. 13, 2020.

Copies of the plan and disclosure statement can be access for free
of charge at the Debtor's voting agent, Bankruptcy Management
Solutions Inc. dba Stretto at http://case.stretto.com.revaand can
be obtained by contacting Stretto at (949) 536-3323 or
TeamReva@stretto.com, or reaching the Debtor's counsel:

   DLA Piper LLP (US)
   1251 Avenue of Americas
   New York, NY 10020
   Attn: Thomas R. Califano
         Jamila Justine Willis
   Email: thomas.califano@us.dlapiper.com
          jamila.willis@us.dlapiper.com

                         About REVA Medical

Based in San Diego, California, REVA Medical Inc. --
https://www.revamedical.com -- is a medical device company focused
on the development and commercialization of bioresorbable polymer
technologies for vascular applications.  The Company filed for
Chapter 11 bankruptcy protection on Jan. 14, 2020 (U.S. Bankr. Del.
Case No. 20-10072).

Judge John T. Dorsey presides the Debtor's Chapter 11 case.

Stuart M. Brown, Esq., of DLA Piper LLP (US) represents the
Debtor's as its general bankruptcy counsel.  Ernst & Young LLP was
selected as the Debtor's restructuring advisor.  Bankruptcy
Management Solutions Inc. dba Stretto was named its notice, claims,
balloting agent, and administrative advisory.

The Debtor disclosed total assets of $5.9 million and total debts
of $104.5 million as of Jan. 13, 2020.


REVA MEDICAL: Lenders Provide Additional Funding of $4.4M
---------------------------------------------------------
Debtor Reva Medical, Inc., filed with the U.S. Bankruptcy Court for
the District of Delaware a Prepackaged Chapter 11 Plan and a
Disclosure Statement.

On Jan. 9, 2020, REVA entered into that certain Third Amendment to
Credit and Guaranty Agreement by and among REVA, as Company, GSI as
administrative agent for the lenders, and each of the Lenders party
thereto, which Third Amendment amended the Senior Secured Credit
Agreement in various respects.  Pursuant to the Third Amendment,
the lenders made an additional $4.4 million available to REVA to
satisfy its immediate funding needs as well as to provide
sufficient liquidity to consummate the transactions contemplated by
the Plan.

As of the date of this Disclosure Statement, approximately $9.7
million plus approximately $500,000 in accrued interest and fees
remains outstanding.

On or about Dec. 23, 2019, REVA, the Consenting Senior Secured
Lenders, the Consenting 2014 Noteholders, and the Consenting 2017
Noteholders executed the Restructuring Support Agreement. Under the
terms of the Restructuring Support Agreement, each of the
Consenting Creditors has agreed to support and take all reasonable
actions necessary to consummate the Restructuring and the Plan in a
timely manner, to timely vote all of their claims to accept the
Plan, and to support and take all reasonable actions necessary to
facilitate the solicitation of votes on the Plan, approval of this
Disclosure Statement, and Confirmation and Consummation of the
Plan.

The Debtor believes that the Restructuring gives it the best
opportunity to withstand current adverse industry conditions,
maintain adequate liquidity for its operations going forward, avoid
an enterprise-wide, piecemeal liquidation, and maximize value for
the benefit of their stakeholders.  Under the terms of the
Restructuring Support Agreement and the Plan, the Debtor
anticipates that the Plan Effective Date will be no later than 45
calendar days after the Petition Date. Consummation of the
Restructuring Transactions contemplated by the Restructuring
Support Agreement and Plan will deleverage the Debtor's balance
sheet by approximately $93.8 million, leave general unsecured trade
creditors unimpaired, preserves the Debtor's value as a going
concern, and otherwise has support from the vast majority of the
Debtor’s stakeholders.

REVA will take certain actions to implement the Restructuring
Transactions, ultimately giving rise to two separate entities.
Prior to the Effective Date:

  * REVA will create NewLLC.

  * All assets and liabilities of REVA shall be contributed by REVA
to NewLLC. For the avoidance of doubt, any and all assumed
contracts and unexpired leases shall be assumed by REVA and
assigned by REVA to NewLLC.

On the Effective Date of the Plan, NewLLC will enter into the
NewLLC Exit Credit Facility Agreement, which will provide Exit
Financing in the form of a senior secured credit facility in an
initial principal amount of up to $15 million. The terms of the
NewLLC Exit Credit Facility will be set forth in the applicable
exit facility documents filed with the Plan Supplement.

Holders of Class 6B all Other General Unsecured Claims shall not
receive or retain any property on account of such Class 6B Claims
and all such Claims shall be cancelled and discharged.

A full-text copy of the Disclosure Statement explaining the
Prepackaged Plan dated January 14, 2020, is available at
https://tinyurl.com/txqfsft from PacerMonitor.com at no charge.

The Debtor is represented by:

       DLA PIPER
       Stuart M. Brown, Esq.
       1201 N. Market Street, Suite 2100
       Wilmington, Delaware 19801
       Telephone: (302) 468-5700
       Facsimile: (302) 394-2341
       Stuart.Brown@us.dlapiper.com

                 - and -

       Thomas R. Califano, Esq.
       Jamila Justine Willis, Esq.
       1251 Avenue of the Americas
       New York, New York 10020-1104
       Telephone: (212) 335-4500
       Facsimile: (212) 335-4501
       E-mail: Thomas.Califano@us.dlapiper.com
               Jamila.Willis@us.dlapiper.com

                          About Reva Medical

REVA Medical, Inc. -- https://www.revamedical.com/ -- is a medical
device company focused on the development and commercialization of
bioresorbable polymer technologies for vascular applications.  The
Company's products include the Fantom Encore and MOTIV
bioresorbable vascular scaffolds for the treatment of coronary
artery disease and below-the-knee peripheral artery disease,
respectively. REVA is currently selling Fantom Encore in Germany,
Switzerland, Austria, the Netherlands, Belgium, Luxembourg, Italy
and Turkey and is in the process of commercializing Fantom Encore
in seven additional countries. REVA was founded in 2010 and is
based in San Diego, California.

REVA Medical sought Chapter 11 protection (Bankr. D. Del. Case No.
20-10072) on Jan. 14, 2020.  The Debtor disclosed $5.9 million in
total assets and $104.5 million in total debt as of Jan. 13, 2020.

The case is assigned to Hon. John T. Dorsey.  

The Debtor tapped DLA PIPER LLP (US) as bankruptcy counsel; ERNST &
YOUNG LLP as restructuring advisor; and BANKRUPTCY MANAGEMENT
SOLUTIONS INC., d/b/a Stretto as claims agent.


RHC LLC: April 15 Filing Deadline of Plan and Disclosures
---------------------------------------------------------
Judge Judge Caryl E. Delana in Middle District, Florida, has
entered an order setting a April 15, 2020 deadline for RHC 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 Jan. 24, 2020, is available at

https://tinyurl.com/s6ssacu from PacerMonitor.com at no charge.

                         About RHC LLC

Founded on March 13, 2018, RHC, LLC, is a holding company engaged
in
real estate development, operations and ownership in Naples, Fla.
It owns the real properties located at 1800 Snook Drive and 1660
Dolphin Court, Naples, Fla.  

RHC sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. M.D. Fla. Case No. 19-11853) on Dec. 17, 2019.  At the time
of the filing, the Debtor was estimated to have assets of between
$1 million and $10 million and liabilities of the same range.  The
Debtor tapped Dal Lago Law as its legal counsel.


ROBERT GROUP LLC: Seeks to Hire Petroff Amshen as Counsel
---------------------------------------------------------
The Robert Group, LLC, seeks authority from the U.S. Bankruptcy
Court for the Eastern District of New York to employ Petroff Amshen
LLP, as counsel to the Debtor.

Robert Group, LLC requires Petroff Amshen to:

   (a) analyse the Debtor's financial situation, and rendering
       advice to the Debtor in determining whether to file a
       petition in bankruptcy;

   (b) prepare and file of any petition, schedules, statement of
       affairs, disclosure statement and plan which may be
       required;

   (c) counsel the Debtor with regard to the Debtor's rights and
       obligations as a Debtor in Possession;

   (d) represent the Debtor at the meeting of creditors and
       confirmation hearing, and any adjourned hearings thereof;

   (e) assist the Debtor in administering Debtor's Chapter 11
       case;

   (f) make such motions or taking such action as may be
       appropriate or necessary under the Bankruptcy Code;

   (g) take such steps as may be necessary for Debtor to marshal
       and protect the estate's assets;

   (h) negotiate with Debtor's creditors in formulating a plan of
       reorganization for Debtor in this case;

   (i) draft and prosecute of the confirmation of Debtor's plan
       of reorganization in this case;

   (j) render such additional services as Debtor may require in
       this case.

Petroff Amshen will be paid at these hourly rates:

     Attorneys                   $375
     Paraprofessionals           $150

Petroff Amshen will also be reimbursed for reasonable out-of-pocket
expenses incurred.

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

Petroff Amshen can be reached at:

     Steven Amshen, Esq.
     PETROFF AMSHEN LLP
     1795 Coney Island Avenue, Suite 3
     Brooklyn, NY 11230
     Telephone: (718) 336-4200

                     About The Robert Group

The Robert Group LLC is engaged in renting and leasing real estate
properties. The company owns in fee simple a two-family residential
building located in Astoria, New York having a current value of
$1.16 million.

The Robert Group LLC, based in Astoria, NY, filed a Chapter 11
petition (Bankr. E.D.N.Y. Case No. 20-40138) on Jan. 9, 2020.  In
the petition signed by Robert Angona, principal, the Debtor
disclosed $1,165,100 in assets and $926,499 in liabilities.  The
Hon. Nancy Hershey Lord oversees the case.  Steven Amshen, Esq., at
Petroff Amshen LLP, serves as bankruptcy counsel.


ROYCE J. HASSELL: Selling West University Property for $815K
------------------------------------------------------------
Royce J. Hassell asks the U.S. Bankruptcy Court for the Southern
District of Texas to authorize the sale of the real property
described as Tract 9A, Block 12, City of West University, County of
Harris, Texas, also known as 6421 Buffalo Speedway, to Dr. Sonia
Labarinas Prado and Oscar Cousillas for $815,000.

Objections, if any, must be filed within 21 days from the date the
Motion was served.

The Debtor owns the Property.  He asks authority to sell the
Property on an "as is, where is" basis pursuant to the terms of a
One to Four Family Residential Contract (Resale) and subject to
approval of a sale by the Court.  The Buyers have offered to
purchase the Property from the Debtor for the purchase price of
$815,000.

The Buyers' offer to purchase the Property was presented to the
Debtor by Eric Campbell of Coldwell Banker United Realtors, whose
application for employment is pending before the Court.  They've
offered to pay the Purchase Price to purchase the Property, subject
to a 20-day option period, obtaining third-party financing, and
with a proposed closing date of Feb. 14, 20204.  To stay on track
with a proposed Feb. 14, 2020 closing, the Debtor has filed the
Motion as an emergency motion.

Pursuant to the terms of the Contract, the Buyers will deliver
$8,000 in earnest money to Chicago Title Co. at 6575 West Loop
South #150, Bellaire, Texas 77401 c/o Elizabeth Cunningham to be
held in escrow pending the sale of the Property.  If the Buyers
terminate the Contract before the expiration of the option period,
all but $300 of the earnest money is refundable to the Buyers.  If
the Buyers terminate the Contact after the expiration of the option
period, the $8,000 in earnest money is forfeited to the Debtor.  

Elbar Investments, Inc. has a first lien deed of trust security
interest in the Property as well as another piece of real property
owned by the Debtor.  As of the Petition Date, Elbar had a claim
for $1,445,155.  Elbar's debt is based on five different notes
(with varied interest rates) and is secured by two pieces of real
property owed by the Debtor, one of which is the Property which is
the subject of the Motion.  Elbar is over-secured in its collateral
and its claim is accruing interest at varying rates on a
post-petition basis.  

Harris County et. al. has a statutory lien on the Property and has
filed two proofs of claim in the official claims register in the
case (Claim No. 1 and 3) indicating that $96,879 is due for 2018
and 2019 ad valorem taxes on the Property and $1,482 is due for
Court costs.   

The Debtor is not aware of any other liens on the Property other
than Harris County and Elbar.

In the Motion, the Debtor also asks authority to pay (i) all
ordinary costs of sale at the closing, including the broker
commission in the amount of 3%; (ii) all amounts due to Harris
County in relation to this Property through the closing date; and
(iii) all remaining sale proceeds to Elbar to reduce its claim
against the Debtor.  

Harris County Appraisal District indicates the following values for
the Property for 2018: $968,280.  Harris County Appraisal District
indicates the following values for the Property for 2019:
$1,092,270.

The Debtor has filed an application to employ Coldwell Banker/Eric
Campbell, who is recommending a listing price of $865,000 for the
Property.  While the HCAD values appear to be higher than this
amount, the Debtor believes that the broker has a better
understanding of the market conditions with respect to the sale of
the Property and therefore believes that the Purchase Price is
within the range of reasonable prices for sale of the Proeprty.

Elbar's claim against the Debtor is collateralized by two pieces of
real property owned by the Debtor - 6421 Buffalo Speedway (i.e. the
Property that is the subject of the Motion) and another piece of
real property located at 6417 Buffalo Speedway.  While there will
be no "equity" for the estate from the sale of the Property, it
will substantially reduce Elbar’s claim, which will make more
equity available to the estate after the sale of the other piece of
property owned by the Debtor and on which Elbar has a lien.  The
Debtor estimates that Elbar will receive approximately $650,000 to
$680,000 of the Purchase Price (after payment of the costs of the
sale, the broker’s commission, and the claims of Harris County).
The remainder of Elbar's claim will paid once the property 6417
Buffalo Speedway is sold.  

Elbar continues to be adequately protected and over-secured in its
collateral, as does Harris County.  Even though the sale of the
Property does not pay Elbar's claim in full, it provides value to
the estate by paying down Elbar's claim and reducing the accrual of
interest pending a sale of 6417 Buffalo Speedway.  This will
ultimately result in more equity from the sale of 6417 Buffalo
Speedway being available for unsecured creditors.

The Debtor will obtain exact payoffs from Elbar's counsel but
prepared an estimate of Elbar's claim, including post-petition
interest on the proposed closing date for the sale of the Property:
(i) Notes 1, 2, 4: $1,190,006, (ii) Note 3 - $321,086, and (iii)
Note 5 -  $20,759.

Elbar, Harris County, the Office of the Attorney General for the
State of Texas, and the United States Trustee's Office will receive
notice of the Motion in addition to all other parties entitled to
receive notice under the Bankruptcy Code, Bankruptcy Rules, and
Local Bankruptcy Rules.  To the extent there are any unknown liens,
such lien rights are adequately protected because the Debtor asks
to sell the Property free and clear of all liens, claims and
encumbrances except that liens will attach to proceeds from the
sale of the Property.  

A copy of the Contract is available at https://tinyurl.com/whee4vu
from PacerMonitor.com free of charge.

Royce J. Hassell sought Chapter 11 protection (Bankr. S.D. Tex.
Case No. 19-30694) on Feb. 4, 2019.  The Debtor tapped Erin E.
Jones, Esq., as Erin E. Jones, P.C., as counsel.



RUBEN JASSO: Siemens Financial Objects to Fourth Amended Disclosure
-------------------------------------------------------------------
Siemens Financial Services, Inc., objects to Ruben Jasso Trucking,
LLC's Fourth Amended Disclosure Statement Dated Jan. 3, 2020.

Ruben Jasso Trucking, LLC and Siemens Financial are parties to that
certain Equipment Loan and Security Agreement # 470-0003563-00, as
amended from time to time, pursuant to which the Debtor agreed to
repay Siemens Financial amounts loaned to the Debtor, the repayment
of which is secured by the following Siemens Equipment.

Siemens avers that:

   * Although the Debtor included the agreed language regarding any
sale of the Siemens Collateral in XIV, the Disclosure Statement did
not include this language. The Disclosure Statement should make
clear that any provisions of the proposed Plan control over
contrary and/or more limited provisions to the Disclosure
Statement.

   * In addition, Section XVI(g) should be clarified to state that
a future bankruptcy filing will allow any lender to accelerate its
debt.

   * Plan Exhibit C incorrectly states that the unsecured portion
of Siemens Financial's claim is $0.  Siemens Financial's total
claim exceeds the value of the Siemens Collateral Indeed, the
Debtor has conceded in the Plan and Disclosure Statement that
Siemens Financial's secured claim does not encompass the entirety
of amounts owed to Siemens Financial.  The Debtor's error regarding
Siemens Financial’s unsecured claim should also be corrected.

A full-text copy of Siemens' objection to the Fourth Amended
Disclosure Statement dated Jan. 14, 2020, is available at
https://tinyurl.com/qoppz3l from PacerMonitor.com at no charge.

Siemens Financial is represented by:

       Carlos A. Miranda
       MIRANDA & MALDONADO, P.C.
       5915 Silver Springs, Bldg. 7
       El Paso, Texas 79912

                   About Ruben Jasso Trucking

Ruben Jasso Trucking, LLC, is a commercial trucking company. It was
formed July 10, 2006, by Ruben Jasso and was consistently
profitable for the next nine years, principally serving the
maquiladora-automotive industry along the border between Juarez,
Mexico and El Paso, Texas. As of the bankruptcy filing, its fleet
of commerical vehicles numbered 45 over-the-road tractors, 47
over-the-road trailers, and 3 local delivery trucks.

Ruben Jasso Trucking filed a Chapter 11 bankruptcy petition (Bankr.
W.D. Tex. Case No. 18-31630) on Sept. 28, 2018.  In the petition
signed by Ruben Jasso, managing member, the Debtor was estimated to
have $1 million to $10 million in assets and liabilities. The case
is assigned to Judge Christopher H. Mott.  The Debtor hired E.P.
Bud Kirk, Esq., at Law Office of E.P. Bud Kirk, as counsel.


SAEXPLORATION HOLDINGS: Whitebox Advisors Reports 36.1% Stake
-------------------------------------------------------------
In an amended Schedule 13D filed with the Securities and Exchange
Commission, these entities reported beneficial ownership of shares
of common stock of SAExploration Holdings, Inc. as of Jan. 14,
2020:

                                            Shares      Percent
                                         Beneficially     of
   Reporting Person                          Owned       Class
   ----------------                      ------------   -------
   Whitebox Advisors LLC                   2,336,725     36.13%
   Whitebox General Partner LLC            2,336,725     36.13%
   Whitebox Multi-Strategy Partners, LP    1,431,195     25.45%
   Whitebox Credit Partners, LP              449,460      9.55%
   Whitebox Asymmetric Partners, LP          347,027      7.52%

The percent of class was calculated based on 4,290,697 Shares
outstanding as provided in the Issuer's Form 8-K filed on
June 21, 2019.

WA manages and advises private investment funds, including WMP, WCP
and WAP.  WB GP serves as general partner of private investment
funds, including WMP, WCP and WAP.  The principal business of WMP,
WCP and WAP is investments.

                       Forbearance Extension

n Jan. 27, 2020, the Issuer, certain of its subsidiaries, and WAP,
WMS and WCP, among others extended the effectiveness of the
Forbearance under certain Forbearance Agreements until the earlier
of (i) Feb. 7, 2020 and (b) the date the Forbearance Agreements
otherwise terminate in accordance with their terms. Those
Forbearance Agreements were entered into among certain of the
Forbearing Parties on Sept. 23, 2019, and include the ABL
Forbearance Agreement, the Term Loan Forbearance Agreement and the
Convertible Notes Forbearance Agreement.

Pursuant to the Forbearance Agreements, the Forbearing Parties
agreed to refrain from exercising their rights and remedies under
the Debt Instruments and applicable law with respect to existing
defaults disclosed in the Issuer's Current Reports on Form 8-K
filed with the SEC on Aug. 16, 2019 and Aug. 22, 2019 and other
events of default that have occurred and other potential defaults
or events of default that may occur as further specified in the
Forbearance Agreements.

A full-text copy of the Schedule 13D/A is available for free at the
SEC's website at:

                       https://is.gd/eMuD6d

                   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, and
Singapore.

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.


SAI SB:Unsecureds Paid in Full within 60 Months
-----------------------------------------------
SAI SB Center, LLC, has proposed a reorganization plan.

The Debtor seeks to reorganize its debts by redevelopment of the
property and obtaining financing to pay off its debts.

The Plan proposes to treat claims as follows:

   * Class 1 Secured Claim of WBL Spe II, LLC, secured by a
mortgage on the Debtor's Property. IMPAIRED.  The secured claim
filed by WBL SPE II, LLC in the amount of $319,808.12 shall be paid
from the refinance of the property.

   * Class 2 Secured Claim of Bryan Bruder, secured by a Tax Sale
Certificate on the Debtor's Property. IMPAIRED. The secured claim
of Bryan Bruder in the amount of $27,690.42 shall be paid from the
refinance of the property.

   * Class 3 General Unsecured Claims totaling $400,000. IMPAIRED.
In the event that the funding is approved by the Court and the
secured claims are satisfied, the General Unsecured Creditors shall
be paid in full over a term not to exceed 60 months subsequent to
the Effective Date from a working capital loan to be obtained
thereafter.

   * Class 4 SAI SB Center, LLC.  IMPAIRED.  Paid to the extent
available after payment of all other creditor claims.

A full-text copy of the Disclosure Statement dated Jan. 22, 2020,
is available at https://tinyurl.com/tjxdgna from PacerMonitor.com
at no charge.

Attorney for the Debtor::

     EUGENE D. ROTH, ESQUIRE
     VALLEY PARK EAST
     2520 HIGHWAY 35, SUITE 307
     MANASQUAN, NEW JERSEY 08736
     Tel: (732) 292-9288

                        About SAI SB Center

SAI SB Center, LLC was formed in February of 2014 in order to
acquire property located at 4064 US 1 Monmouth Junction, New Jersey
(the "Property").  The Property was acquired for the potential
long-term development opportunity due to its location.  The
Property had the added benefit of being adjacent to existing
property owned by the principal of the Debtor for a larger
development.

SAI SB Center, LLC, sought Chapter 11 protection (Bankr. D.N.J.
Case No. 19-28195) on Sept. 24, 2019.  Eugene D. Roth, Esq., at the
LAW OFFICE OF EUGENE D. ROTH, is the Debtor's counsel.


SALSGIVER INC: Unsecureds to Recover 60% in 2nd Amended Plan
------------------------------------------------------------
Salsgiver Inc. and its affiliated debtors have further fine-tuned
their Chapter 11 Dlan and Disclosure Statement that contemplate
their ongoing business operations.

According to the Second Amended Disclosure Statement, SECURED
NON-TAX CLAIMS total $614,504.36 and PRIORITY TAX CLAIMS total
$435,083.68.  GENERAL UNSECURED NON-TAX CLAIMS total $2,431,041
(instead of $2,051,338.24 in prior iteration of Plan) and GENERAL
UNSECURED TAX CLAIMS total $358,701.79.

All three debtors are providing for 100% payment of allowed
secured, administrative and priority claims in their cases and 60%
of unsecured claims in their cases.

All funding required can be provided via ongoing business
operations.

All three debtor plans provide, where applicable, full payment of
allowed secured claims in accordance with existing contractual
obligations with liens retained until paid in full, full payment of
allowed administrative claims on the Plan Effective Date, full
payment of allowed priority claims no later than a 60-month period
in equal monthly installments commencing on the Plan Effective
Date
and 60% payment of allowed unsecured claims over a 60-month period
in yearly installments commencing one year after the Plan Effective
Date.

A full-text copy of the Second Amended Disclosure Statement dated
Jan. 13, 2020, is available at https://tinyurl.com/wn9on9m from
PacerMonitor.com at no charge.

                       About Salsgiver Inc.

Based in Freeport, Pennsylvania, Salsgiver Inc. --
http://gotlit.com/-- and -- http://www.salsgiver.com/-- is a
wired telecommunications carrier offering internet, phone and video
services to residential and business clients.  The company also
provides telecom services.

Salsgiver and its affiliates Salsgiver Telecom, Inc. and Salsgiver
Communications, Inc., sought protection under Chapter 11 of the
ankruptcy Code (Bankr. W.D. Pa. Case Nos. 18-20803, 18-20805 and
18-20806) on March 2, 2018.

In their petitions signed by Loren M. Salsgiver, president, the
Debtors were estimated to have assets of less than $50,000.
Salsgiver disclosed $1 million to $10 million in liabilities.
Salsgiver Telecom estimated less than $500,000 in liabilities while
Salsgiver Communications estimated less than $50,000 in
liabilities.   

Judge Thomas P. Agresti oversees the cases.

The Debtors are represented by the Law Offices of Robert O. Lampl.


SEASONS CORPORATE: Equipment Vendor Must Defend Against Lender Suit
-------------------------------------------------------------------
Judge Vincent L. Briccetti of the United States District Court for
the Southern District of New York denied the motion to dismiss
filed by defendant Chef's Depot Inc. d/b/a Culinary Depot, with
respect to the amended complaint of plaintiff Bank Capital Services
LLC d/b/a F.N.B. Equipment Finance, a subsidiary of First National
Bank of Pennsylvania, to recover money advanced to defendant in
connection with an equipment purchase and lease agreement between
plaintiff and a non-party Seasons Cleveland LLC.

On June 11, 2018, Bank Capital and Seasons Cleveland entered into a
master equipment lease, whereby plaintiff agreed to purchase, and
Seasons Cleveland agreed to lease, supermarket equipment for
Seasons Cleveland to develop and operate the South Euclid
supermarket.  Defendant's project summary estimated the total cost
of equipment to be $3,962,999.98.

Non-party Zvi Bloom, the principal of Seasons Cleveland, guaranteed
full performance of the equipment lease by executing an equipment
lease guaranty.  On June 13, 2018, plaintiff filed a UCC-1
Financing Statement with the Ohio Secretary of State to secure its
interest in the equipment.

Seasons Cleveland also executed a Progress Payment Addendum, which
authorized plaintiff to advance funding to purchase the equipment
for Seasons Cleveland's use, and a "progress payment request form",
which authorized and directed plaintiff to advance to defendant
$1,505,500 as a deposit for the equipment purchase.  The next day,
defendant sent Seasons Cleveland LLC an invoice indicating the
total cost of equipment, $3,962,999.98, and the then-due $1,505,500
progress payment, which plaintiff remitted to defendant that same
day.

Seasons Cleveland defaulted on its obligations under the equipment
lease.  

In May 2018 -- prior to Seasons Cleveland's execution of the
equipment lease and progress payment form -- an $8,325,000 judgment
was entered against Seasons Cleveland's parent company, various
affiliates, and Bloom. Seasons Cleveland and Bloom allegedly failed
to notify plaintiff of this judgment prior to the execution of the
equipment lease and plaintiff's remittance of the progress payment
to defendant.  According to plaintiff, it would never have
consummated or finalized the equipment lease, or advanced the
progress payment to defendant, had it known of the May 2018
judgment and Seasons Cleveland's and Bloom's financial
difficulties.

On September 16, 2018, Seasons Cleveland, its parent company, and
its affiliates filed a Chapter 11 voluntary petition for bankruptcy
protection in the U.S. Bankruptcy Court for the Eastern District of
New York.  By that time, the only equipment identified in the June
12 invoice that defendant Chef's Depot had delivered to Seasons
Cleveland were floor troughs, valued at $6,000.

On February 15, 2019, plaintiff commenced an action against Bloom
in the U.S. District Court for the Middle District of Pennsylvania
to enforce the equipment lease guaranty.  Specifically, plaintiff
sued Bloom for breach of contract, fraud, and negligent
misrepresentation.  On May 8, 2019, plaintiff obtained a default
judgment against Bloom and on September 10, 2019, the judgment was
amended to reflect a corrected judgment amount of $1,610,717.30.

At some time prior to the commencement of the instant action,
plaintiff demanded that defendant return the $1,505,500 progress
payment.  Defendant has allegedly refused to do so.

In its motion, defendant argued that the plaintiff's complaint must
be dismissed because:

      -- pursuant to Rule 9(b), plaintiff has failed to plead with
particularity fraud as against Seasons Cleveland or defendant.

The Court held that this argument is misplaced because plaintiff
does not plead a fraud claim.  "The heightened pleading
requirements of Rule 9(b). . . apply only to claims sounding in
fraud or mistake." Madanes v. Madanes, 981 F.Supp. 241, 253
(S.D.N.Y. 1997) (citing McLaughlin v. Anderson, 962 F.2d 187, 194
(2d Cir. 1992)).

      -- the amended complaint fails to state an unjust enrichment
claim.

The Court disagreed saying that to state an unjust enrichment claim
under New York law, a plaintiff must allege that "(1) defendant was
enriched, (2) at plaintiff's expense, and (3) equity and good
conscience militate against permitting defendant to retain what
plaintiff is seeking to recover."

The Court, citing Myun-Uk Choi v. Tower Research Capital LLC, 890
F.3d 60, 69 (2d Cir. 2018), related that "[A] New York unjust
enrichment claim requires no direct relationship between plaintiff
and defendant." Rather, the requirement of a connection between
plaintiff and defendant is a modest one: '[A] claim will not be
supported if the connection between the parties is too
attenuated.'" Id. (quoting Mandarin Trading Ltd. v. Wildenstein, 16
N.Y.3d 173, 182 (2011).   

      -- plaintiff has failed to state a claim for the imposition
of a constructive trust respecting the progress payment.  

The Court further disagreed to this argument of the defendant
relating that "Under New York law, the equitable remedy of a
constructive trust is appropriate when there is clear and
convincing evidence of (1) a confidential or fiduciary
relationship; (2) an express or implied promise; (3) a transfer in
reliance on such promise; and (4) unjust enrichment  (Martha Graham
Sch. & Dance Found., Inc. v. Martha Graham Ctr. of Contemporary
Dance, Inc., 380 F.3d 624, 646 (2d Cir. 2004)), and that "[N]ot all
[of the above] elements need to be met for [a] court to impose a
constructive trust, as the factors are merely guideposts and are
not rigidly applied (City of Almaty v. Ablyazov, 278 F.Supp.3d 776,
802 (S.D.N.Y. 2017)).  

Accordingly, the district court tossed the defendant's motion to
dismiss plaintiff's amended complaint to recover money.  The Court
ordered the clerk to terminate the motion, and the defendant to
file an answer to the amended complaint.

A copy of the opinion and order dated December 30, 2019 is
available at https://www.leagle.com/decision/infdco20191231c43 from
Leagle.com free of charge.

Boris Brownstein , Clark Hill Plc, 830 Third Avenue, Suite 200, New
York, NY 10022, Nola R. Bencze , Clark Hill Plc, 830 Third Avenue,
Suite 200, New York, NY 10022, counsel for plaintiff Bank Capital
Services LLC, a subsidiary of First National Bank of Pennsylvania
doing business as F.N.B. Equipment Finance.

Bruce William Minsky, Law Offices of Bruce W. Minsky, PC, 112 Brick
Church Road, New Hempstead, NY 10977, counsel for Chef's Depot
Inc., dba Culinary Depot, defendant.

                    About Seasons Corporate LLC

Seasons Corporate, LLC, and its operating entities include Blue
Gold Equities LLC, Central Ave. Market, LLC, Amsterdam Ave. Market,
LLC, Wilmot Road Market, LLC, Seasons Express Inwood, LLC, Seasons
Lakewood, LLC, Seasons Maryland, LLC, Seasons Clifton, LLC, Seasons
Cleveland, LLC, Lawrence Supermarket, LLC, Upper West Side
Supermarket, LLC.

Blue Gold, launched in 2010, owns and operates nine retail kosher
food stores under the name of "Seasons" in New York, New Jersey,
Ohio and Maryland.

On Sept. 16, 2018, Blue Gold Equities LLC and 11 affiliates,
including Seasons Corporate, filed voluntary petitions seeking
relief under the provisions of Chapter 11 of the U.S. Bankruptcy
Code (Bankr. S.D.N.Y. Lead Case No. 18-45280).  Blue Gold disclosed
$31 million in total assets and $42 million in total liabilities.

The Hon. Nancy Hershey Lord is the case judge.

Zeichner Ellman & Krause LLP, led by Nathan Schwed, Peter Janovsky,
and Robert Guttmann, serve as the Debtors' counsel.  Getzler
Henrich & Associates, LLC, is the restructuring advisor. Omni
Management Group, Inc., is the claims and noticing agent.



SGH CHHINA LLC: Seeks to Hire Penachio Malara as Counsel
--------------------------------------------------------
SGH Chhina LLC, seeks authority from the U.S. Bankruptcy Court for
the Southern District of New York to employ Penachio Malara LLP, as
counsel to the Debtor.

SGH Chhina LLC requires Penachio Malara to:

   a. assist the Debtor in the administration of its Chapter 11
      proceeding, prepare of operating reports and comply with
      applicable law and rules;

   b. set a bar date, review claims and resolve claims which
      should be disallowed;

   c. assist with the sale of the Debtor's property; and

   d. assist in reorganizing and confirming a Chapter 11 plan or
      implementing an alternative exit strategy.

Penachio Malara will be paid at these hourly rates:

     Attorneys               $475 to $495
     Paralegals                  $225

Penachio Malara will be paid a retainer in the amount of $10,000.

Penachio Malara will also be reimbursed for reasonable
out-of-pocket expenses incurred.

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

Penachio Malara can be reached at:

     Anne Penachio, Esq.
     PENACHIO MALARA, LLP
     245 Main Street, Suite 450
     White Plains, NY 10601
     Tel: (914) 946-2889

                     About SGH Chhina LLC

Sgh Chhina LLC, filed a Chapter 11 bankruptcy petition (Bankr.
S.D.N.Y. Case No. 20-35047) on Jan. 14, 2020, disclosing under $1
million in both assets and liabilities.  The Debtor is represented
by Anne Penachio, Esq., at Penachio Malara, LLP.


SHAPPHIRE RESOURCES: Amended Plan & Disclosures Due Feb. 12
-----------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California,
Los Angeles Division, convened a hearing to consider the
stipulation to continue Chapter 11 Status Conference; continue
hearing to consider adequacy of Disclosure Statement; extend
deadline for debtor Shapphire Resources, LLC to file Amended
Disclosure Statement and Amended Plan Of Reorganization.

On January 14, 2020, Judge Robert Kwan ordered that:

  * the Stipulation is approved;

  * the chapter 11 Status Conference and the hearing to consider
the adequacy of the disclosure statement is continued from Feb. 19,
2020, at 11:00 a.m., to March 25, 2020, at 11:00 a.m., in courtroom
1675 of the United States Bankruptcy Court for the Central District
of California [Los Angeles Division], located at 255 East Temple
Street, Los Angeles, California 90012; and

   * the deadline for Shapphire Resources, LLC to file and serve
its amended disclosure statement and amended chapter 11 plan is
extended from Jan. 13, 2020, to Feb. 12, 2020.

A full-text copy of the order dated January 14, 2020, is available
at https://tinyurl.com/srff2f8 from PacerMonitor.com at no charge.

The Debtor is represented by:

       Raymond H. Aver
       LAW OFFICES OF RAYMOND H. AVER
       A Professional Corporation
       10801 National Boulevard, Suite 100
       Los Angeles, California 90064
       Telephone: (310) 571-3511
       E-mail: ray@averlaw.com

                    About Shapphire Resources

Shapphire Resources, LLC's principal assets are located at 2770
Cold Plains Drive Hacienda Heights, CA 91745.

Shapphire Resources previously filed for bankruptcy
protection(Bankr. C.D. Cal. Case No. 10-57493) on Nov. 4, 2010.

Shapphire Resources filed a Chapter 11 bankruptcy petition (Bankr.
C.D. Cal. Case No. 17-15033) on April 24, 2017.  In the petition
signed by Susan Tubianosa, manager, the Debtor was estimated to
have $1 million to $10 million in both assets and liabilities.  The
Hon. Neil W. Bason oversees the case.  The Law Offices of Raymond
H. Aver, a professional corporation, represents the Debtor.


SK GLOBAL: Unsecured Creditors to Recover 16% in 2 Years
--------------------------------------------------------
SK Global Trading Inc. filed an Amended Disclosure Statement,
describing a Chapter 11 plan that provides for the continued
operations of the Debtor going forward, and a payment of 16% to
general unsecured creditors over two years.

Since the Debtor is not generating sufficient profits to fund more
than a small portion of the payments, the shortfall will be paid
through capital contributions from the Debtor's principal, Abdul
Shamim.  Mr. Shamim is seeking to refinance his home equity loan to
obtain the funds for the payments to general creditors.  In return
for these payments, the Plan provides that Mr. Shamim will retain
his 100% equity interest in the Reorganized Debtor after
confirmation.

General unsecured claims in Class 2 will receive a pro rata share
of the balance of approximately $130,000 from the Plan Funding
Monies over a period of two years.

A full-text copy of the Second Amended Disclosure Statement dated
Jan. 24, 2020, is available at https://tinyurl.com/wjp7kat from
acerMonitor.com at no charge.

Counsel for the Debtor:

     J. Ted Donovan, Esq.
     Goldberg Weprin Finkel Goldstein LLP
     1501 Broadway, 22nd Floor
     New York NY 10036
     Tel: (212) 221-5700

                  About SK Global Trading

Organized in 2013, SK Global Trading Inc. operates a wholesale
business selling perfume products, fragrances and watches.  SK
Global generated total sales revenues of approximately $2.14
million in 2016 and approximately $2.37 million in 2017.

SK Global Trading Inc. filed a voluntary petition under Chapter 11
of the Bankruptcy Code (Bankr. S.D.N.Y. Case No. 18-10793) on March
23, 2018.  In the petition signed by Abdul Shamim, president, the
Debtor disclosed $554,500 in total assets and $2.22 million in
total liabilities.  The case is assigned to Judge James L. Garrity
Jr.  J. Ted Donovan, Esq., and Kevin J. Nash, Esq., at Goldberg
Weprin Finkel Goldstein LLP, serve as the Debtor's counsel.


SKEFCO PROPERTIES: Trustee Hires GrandPoint Realty as Realtor
-------------------------------------------------------------
Skefco Properties, Inc., seeks authority from the U.S. Bankruptcy
Court for the Western District of Tennessee to employ GrandPoint
Realty LLC, as realtor to the Trustee.

The Trustee requires GrandPoint Realty to market and sell the
Debtor's real property known as: (i) 3610 Democrat Road, Memphis,
Tennessee 38118 and (ii) 139-143 Madison Avenue, Memphis, Tennessee
38103.

GrandPoint Realty will be paid a commission of 6% of the sales
price.

Nash Hassen, realtor at GrandPoint Realty LLC, assured the Court
that the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtor and its estates.

GrandPoint Realty can be reached at:

     Nash Hassen
     GRANDPOINT REALTY LLC
     3000 Walnut Grove, Suite 200
     Memphis, TN 38111
     Tel: (901) 550-9255

                  About Skefco Properties

Skefco Properties, Inc. sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. W.D. Tenn. Case No. 19-26580) on Aug. 20,
2019.  At the time of the filing, the Debtor disclosed $4,473,400
in assets and $1,693,357 in liabilities.

Judge Jennie D. Latta oversees the case.

The Debtor is represented by the Law Office of John E. Dunlap.

Michael E. Collins, Esq., was appointed as the Debtor's Chapter 11
trustee.  The Trustee is represented by Manier & Herod, P.C.


SOUTH COAST BEHAVIORAL: PCO Files 5th & 6th Reports
---------------------------------------------------
Tamar Terzian, the Court-appointed Patient Care Ombudsman for South
Coast Behavioral Health, filed a fifth interim report for the
period November 1, 2019 through December 1, 2019, and a sixth
interim report for the period December 1, 2019 through January 1,
2020.

As set forth in the Court's Order and the Appointment Notice, the
Ombudsman was appointed to monitor the quality of patient care
provided by the Debtor, to the extent necessary under the
circumstances, including the interview of the patients/clients,
administration, staff, and other interested parties.

South Coast Behavioral Health has six separate facilities in the
Orange County area focusing on alcohol and drug rehabilitation. The
Debtor has two commercial locations and three residential locations
in Costa Mesa with one residential alcohol and drug rehabilitation
location in Huntington Beach that is operating and use for
administration purposes as well as for treatment purposes.  The
Debtor is planning on licensing for mental health services. The
functioning, the staffing, and other professional coverage is much
the same throughout the residential facilities which consist of two
treatment technicians and one healthcare technician. Dr. Charles
McPhail assumes responsibility for the oversight of the facilities
which is appropriate.

The PCO visits to the facilities involved verification of
licensing, staffing and assuring compliance with Department of
Health Care Services. Amanda Schofield is the responsible person in
charge of assuring the residential facilities are operating
properly and compliance with the standard of care. Since the last
reports, they had three patients that either filed for a grievance
or needed medical attention: The incidental reports for each
patient were reviewed and unfortunately, one of the patients did
pass away. The PCO met with the Department of Health investigator
and also has spoken with the supervisor for the associate of
Department of Health for the State of California. The investigator
has interviewed witnesses and will issue and provide a copy of
making findings of the incident of the issued report to the PCO.

The PCO made the following observations during the visit with her
consultant Todd Major, who has significant history in operating
behavioral health facilities that involve drug and alcohol
rehabilitation services.  The 2220 University Drive, Costa Mesa
location has primarily therapists with only one licensed LMFT
therapist is on staff, and the remaining therapists are 10
associate licensed therapists which have graduated and completing
their hours for licensing purposes. Each therapist has
approximately 7 to 10 cases. The PCO recommends having licensed
therapists for implementation of patient care.  There are
approximately two staff members who have case management.

The PCO recommends that the Debtor continue to maintain staff files
including providing adequate training for staff. The Debtor is
working on incidental report training, medical necessity training,
and a monthly training with google classroom for the treatment
technicians and clinical staff.  The PCO also recommends that the
Debtor continue to maintain full disclosure to the PCO of any
patient complaints or operational issues; and send the PCO the
incident reports or grievances from patients.

The PCO finds that all care provided to the patients by the Debtor
is at the minimum of standard of care set by the California
Department of Health Care Services. The PCO and her staff will
continue to monitor and is available to respond to any concerns or
questions of the Court or interested party.

The PCO can be reached at:

     Tamar Terzian, Esq.
     TERZIAN LAW GROUP, A PROFESSIONAL CORPORATION
     1122 E. Green Street
     Pasadena, CA 91106
     Telephone: (818) 242-1100
     Facsimile: (818) 242-1012
     Email: tamar@terzlaw.com

A full-text copy of the PCO's Fifth Interim Report is available at
https://tinyurl.com/v4b7m8r from PacerMonitor.com at no charge.  

A full-text copy of the PCO's Sixth Interim Report is available at
https://tinyurl.com/rcq83v3 from PacerMonitor.com at no charge.  

                About South Coast Behavioral Health

South Coast Behavioral Health, Inc. -- https://www.scbh.com/ -- is
a healthcare company that specializes in the in-patient and
outpatient treatment of addicts, alcoholics, and persons dealing
with mental health issues.  It offers a clinically supervised
residential subacute detox services, therapeutic and residential
treatment centers, intensive outpatient treatment services, and
partial hospitalization programs.

South Coast Behavioral Health sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. C.D. Cal. Case No. 19-12375) on June
20, 2019.  At the time of the filing, the Debtor disclosed assets
of between $1 million and $10 million and liabilities of the same
range.  The case is assigned to Judge Mark S. Wallace.  Nicastro &
Associates, P.C., is the Debtor's legal counsel.



SOUTHCROSS ENERGY: Files First Amended Plan
-------------------------------------------
Southcross Energy Partners, et al., filed a First Amended Chapter
11 Plan dated January 24, 2020, that provides for only minor
changes to the prior iteration of the Plan.

Just like in the previous version of the Plan, the First Amended
Plan provides that general unsecured creditors and existing equity
holders are out of the money and are deemed to reject the Plan.

Holders of claims under the prepetition term loan facility of
$429.1 million will receive 84.4% of the new common stock of the
reorganized company, subject to dilution.  Holders of of claims
under the $115 million prepetition revolving credit facility will
receive 15.6% of the stock of the reorganized company

A full-text copy of the First Amended Chapter 11 Plan dated January
24, 2020, is available at https://tinyurl.com/r9esggx from
PacerMonitor.com at no charge.

Counsel for the Debtors:

     Marshall S. Huebner
     Darren S. Klein
     Steven Z. Szanzer
     DAVIS POLK & WARDWELL LLP
     450 Lexington Avenue
     New York, New York 10017
     Telephone: (212) 450-4000
     Facsimile: (212) 701-5800

Local Counsel to the Debtors:

     Robert J. Dehney
     Andrew R. Remming
     Joseph C. Barsalona II
     Eric W. Moats
     MORRIS, NICHOLS, ARSHT & TUNNELL LLP
     1201 North Market Street, 16th Floor
     P.O. Box 1347
     Wilmington, Delaware 19899-1347
     Telephone: (302) 658-9200
     Facsimile: (302) 658-3989

                About Southcross Energy Partners

Southcross Energy Partners, L.P. --http://www.southcrossenergy.com/
-- is a publicly traded company that provides midstream services to
natural gas producers and customers, including natural gas
gathering, processing, treatment and compression, and access to
natural gas liquid (NGL) fractionation and transportation services.
It also purchases and sells natural gas and NGLs.  Its assets are
located in South Texas, Mississippi and Alabama, and include two
cryogenic gas processing plants, a fractionation facility and
approximately 3,100 miles of pipeline.  The South Texas assets are
located in or near the Eagle Ford shale region. Southcross Energy
is headquartered in Dallas, Texas.

Southcross Energy Partners and its affiliates sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Lead Case
No. 19-10702) on April 1, 2019. The Debtors disclosed total assets
of $610.4 million and total liabilities of $614.3 million as of
April 1, 2019.

The cases are assigned to Judge Mary F. Walrath.

The Debtors tapped Davis Polk & Wardwell LLP as bankruptcy counsel;
Morris, Nichols, Arsht & Tunnell LLP as Delaware counsel; Alvarez &
Marsal as financial advisor; Evercore Group LLC as investment
banker; and Kurtzman Carson Consultants LLC as notice and claims
agent and administrative advisor.


SRS DISTRIBUTION: S&P Retains 'B' ICR on Credit Facility Add-On
---------------------------------------------------------------
S&P Global Ratings said that its issue-level and recovery rating on
U.S.-based SRS Distribution Inc.'s senior secured term loans and
unsecured notes are unchanged following the company's increase to
its asset-based revolving credit facility (not rated) due 2025 to
$550 million from $400 million.

The rating on the company's $1.33 billion first lien term loan due
2025 as well as the $250 million first lien incremental term loan
remain 'B', with a recovery rating of '4'. The '4' recovery rating
indicates its expectation of average (30%-50%; rounded estimate:
40%) recovery of principal for creditors in the event of payment
default.

The rating on the company's $350 million of senior unsecured notes
remains 'CCC+' with a recovery rating of '6', indicating its
expectation of negligible(0%-10%; rounded estimate: 0%) recovery of
principal in the event of payment default.

The issuer credit rating remains 'B'.

ISSUE-LEVEL RATINGS

Key analytical factors:

-- S&P's assessment of recovery prospects contemplates a
reorganization value for the company of about $1,140 million,
reflecting emergence EBITDA of about $207 million and a 5.5x
multiple.

-- S&P's emergence EBITDA assumption contemplates a significant
rebound in profitability following the sharp cyclical downturn it
believes is required for the company to default with the proposed
capital structure. As a result, S&P's EBITDA assumption does not
purport to represent a default-level EBITDA, which the rating
agency thinks could be substantially lower.

-- The 5.5x multiple is within the 5x-6x range that S&P generally
use for building products companies.

-- S&P's '4' recovery rating on SRS Distribution's $1.55 billion
first-lien term loan indicates its expectation of average:
(30%-50%; rounded estimate 40%) recovery in the event of default.

-- S&P's '6' rating on the company's $350 million senior unsecured
notes indicates its expectation for negligible (0%-10%; rounded
estimate: 0%) recovery in the event of default.

-- S&P's recovery analysis assumes that, in a hypothetical
bankruptcy scenario, the value of the collateral securing SRS
Distribution's ABL facility would be sufficient to cover
outstanding borrowings. Although the commitment amount is $550
million, it assumed borrowing exposure of about $330 million
because of potential borrowing base constraints.

Simulated default assumptions:

-- Year of default: 2023
-- EBITDA at emergence: $207 million
-- Implied enterprise valuation (EV) multiple: 5.5x
-- Gross EV: $1.140 billion

Simplified waterfall:

-- Net EV (after 5% administrative costs): $1.083 billion
-- Estimated priority claims (ABL facility): $336 million; capital
lease obligations: $73 million): $408 million total
-- Available value after priority claims: $676 million
-- Estimated first-lien term loan claim*: $1.545 billion
-- First-lien recovery expectation: 44%
-- Available value after first-lien claims: $0
-- Estimated senior unsecured notes claim: $380 million
-- Second-lien recovery expectation: 0%-10%

*Estimated term loan claim amount reflects payment of 1% scheduled
amortization through and includes about six months' accrued but
unpaid interest.



STORE IT REIT: 61 Shareholders File Additional Claims
-----------------------------------------------------
On Dec. 30, 2019, debtor Store It Reit, Inc. filed a motion to
continue the Confirmation Hearing originally set on Jan. 6, 2020,
as well as extend deadlines for voting and objecting to the Plan.
The motion was filed to allow Store It an opportunity to file a
supplement to the disclosure statement which disclosed 61
Additional Claims.

An order rescheduling the Confirmation Hearing and extending
related deadlines was entered on Dec. 31, 2019.  The current
deadline to file and submit written objections to this Disclosure
Statement and the Plan is Feb. 6, 2020.  The deadline for
submitting a ballot in favor or against the Plan is also February
6, 2020. The Confirmation Hearing on the Plan is set on Feb. 10,
2020, at 11:00 a.m.

The Additional Claims were filed by 61 shareholders.  The
Additional Claims purportedly arise from a settlement agreement
alleged to have been entered into by Store It and the Additional
Claimants prepetition in which Store It purportedly agreed to pay
attorney's fees incurred by the firms who represented the
Additional Claimants. Ms. Coni S. Rathbone provided back up
documentation not filed with the Additional Claims which showed the
fees were incurred by three different law firms.

After informing Store It about the Additional Claims, Rathbone also
alleged that Dunn Carney Allen Higgins & Tongue, LLC was entitled
to a claim for substantial contribution pursuant to sections
503(b)(3)(D) and (4) of the Bankruptcy Code.  Ms. Rathbone provided
Store It with a draft copy of the motion she intended on filing in
this case and the related invoices.

On or about Jan. 10, 2020, Store It reached a settlement agreement
with Rathbone, Olsen Barton, Rathbone Law PC, Barton Legal Group,
Dunn Carney and the Additional Claimants which would resolve the
disputes with the Additional Claims and the Substantial
Contribution Motion among other issues in the case.

A full-text copy of the Third Amended Disclosure Supplement dated
Jan. 14, 2020, is available at https://tinyurl.com/wjzehvb from
PacerMonitor.com at no charge.

                      About Store It REIT

Store It REIT, Inc., formerly known as Evergreen Realty REIT, Inc.,
and American Spectrum REIT I, Inc., is a privately held company in
Ketchum, Idaho engaged in activities related to real estate. The
Company has 98.64% equity interest in Evergreen REIT, LP.

Evergreen REIT, LP, is a real estate investment trust owning an
interest in entities that own tenant in common, limited
partnership, and/or general partnership interest in three
self-storage facilities.

Store It REIT filed for Chapter 11 bankruptcy protection
(Bankr.S.D. Tex. Case No. 18-32179) on April 27, 2018, listing
$13.18 million in total assets and $127,143 in total liabilities.
The petition was signed by William J. Carden, president and
director. Judge Marvin Isgur oversees the case.  The Debtor tapped
Deirdre Carey Brown, Esq., at Hoover Slovacek LLP, as its
bankruptcy counsel.

An official committee of unsecured creditors has not been formed.
However, on July 3, 2018, an Official Committee of Equity Security
Holders was created.  The Committee is represented by Polsinelli,
PC.

The equity committee has sought the appointment of an examiner in
the company's Chapter 11 case.

The Debtor has filed a plan of liquidation and disclosure
statement.


STUDENT LIVING: Welch Excavation Objects to Disclosure Statement
----------------------------------------------------------------
Welch Excavation & Utility Co., Inc., objects to the Disclosure
Statement filed by debtor Student Living of Texas, LLC.

According to Welch, the Disclosure does not adequately or
accurately describe the available assets and their value. In
particular, this is a single asset real estate as that term is
defined by the Bankruptcy Code.  While all parties appear to be
adequately apprised of the property owned by the Debtor, the much
greater concern is the value of the property.

Welch adds that:

   * The Disclosure fails to address how the stated value was
reached and how reliable such value may be.  Given the centrality
of the property value to the acceptability and the feasibility of
the Plan, this information is essential to the Disclosure
Statement.

   * The Disclosure fails to describe the sources of information
used for the values or for the information related to the
Disclosure. The sources of information are essential to the review
and determination of the accuracy, and ultimately whether or not to
support the Plan.

   * The Debtor's Disclosure fails to provide any useful
information as to the implementation of the Plan.  It calls for a
sale and then payments from the proceeds from the sale.  No
information is available to assess the viability, nor does the
Disclosure contain information by which Welch can make its own
assessment.

A full-text copy of Welch Excavation's objection dated Jan. 14,
2020, is available at https://tinyurl.com/svkn9vw from
PacerMonitor.com at no charge.

Welch Excavation is represented by:

        RITCHESON, LAUFFER & VINCENT, P.C.
        Two American Center
        821 ESE Loop 323, Suite 530
        Tyler, Texas 75701
        Tel: 903/535-2900
        Fax: 903/533-8646
        Charles E. Lauffer, Jr.

                  About Student Living of Texas

Student Living of Texas, LLC, classifies its business as single
asset real estate (as defined in 11 U.S.C. Section 101(51B)). It
owns a property located at 6980 McDonald Road, Tyler, Texas. The
property has an appraised value of $7.1 million.

Student Living of Texas sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. E.D. Texas Case No. 19-42411) on Sept. 3,
2019. At the time of the filing, the Debtor disclosed $7,105,000 in
assets and $2,748,600 in liabilities. The case is assigned to Judge
Brenda T. Rhoades.


STUDENT LIVING: Westmere Capital Objects to Disclosure Statement
----------------------------------------------------------------
Westmere Capital LLC, a secured creditor, filed its objection to
the Disclosure Statement filed by Debtor Student Living of Texas,
LLC on December 9, 2019, and in support thereof, would respectfully
show the Court as follows:

Westmere in its objection asserts that:

  * Westmere has a first and prior-perfected security interest in
the Debtor's Property.  To that end, on Dec. 9, 2019, Westmere
filed a Motion for Relief from the Automatic Stay to allow it to
foreclose on the Debtor's Property because, among other reasons,
the Debtor has neither filed a plan of reorganization that has a
reasonable possibility of being confirmed within a reasonable time,
nor has it commenced making monthly payments at the nondefault
contract rate of interest, as a single-asset real estate debtor is
required to do within 90 days of filing its petition.

  * The Debtor has not made a single payment on its loan with
Westmere during the entire pendency of its Bankruptcy Case.
Nowhere in the Disclosure Statement does the Debtor acknowledge
that it has not been making any required payments to its lender,
nor does it disclose that it has no ability to do so.

  * If the Property is only worth $2.3 million, then the Debtor
lacks any equity in the property, as the combined liens against the
Property total $2,473,949.42. The Disclosure Statement fails to
inform creditors that not only may the Debtor’s Property be worth
far less than $7.1 million, but that the Debtor may also lack
equity in the property and may be unable to pay any of its
unsecured debts.

   * The sale envisioned by the Debtor is highly unlikely to occur
based on the information provided in the Disclosure Statement.  And
if the sale does not occur, then the Debtor’s proposed Plan is
not feasible, and is therefore not confirmable. For this reason,
the Debtor's Disclosure Statement should not be approved.

A full-text copy of Westmere Capital's objection dated Jan. 14,
2020, is available at https://tinyurl.com/tqeegwb from
PacerMonitor.com at no charge.

Westmere Capital is represented by:

       Judith W. Ross
       Rachael L. Smiley
       ROSS & SMITH, PC
       700 North Pearl Street, Suite 1610
       Dallas, TX 75201
       Telephone (214) 377-7879
       Facsimile (214) 377-9409
       E-mail: judith.ross@judithwross.com
               rachael.smiley@judithwross.com

                 About Student Living of Texas

Student Living of Texas, LLC, classifies its business as single
asset real estate (as defined in 11 U.S.C. Section 101(51B)).  It
owns a property located at 6980 McDonald Road, Tyler, Texas.  The
property has an appraised value of $7.1 million.

Student Living of Texas sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. E.D. Tex. Case No. 19-42411) on Sept. 3,
2019.  At the time of the filing, the Debtor disclosed $7,105,000
in assets and $2,748,600 in liabilities.  The case is assigned to
Judge Brenda T. Rhoades.


SUN PACIFIC: Enters Into Second Amended Indenture with UMB Bank
---------------------------------------------------------------
MedRecycler-RI, Inc., a subsidiary of Sun Pacific Holding Corp.,
entered into a second amendment to the Indenture of Trust with UMB
Bank, extending the term of the two bonds representing bridge
financing for the Rhode Island medical waste to energy project for
a period of up to one year.  The extension of the bonds shall
accrue interest, including a capitalized extension fee of five
percent, at 12% per annum.  The bonds are intended to be paid and
extinguished from proceeds from permanent financing.

                       About Sun Pacific

Headquartered in Manalapan NJ, Sun Pacific Holding Corp --
http://www.sunpacificholding.com/-- offers "Next Generation" solar
panel and lighting products by working closely with design,
engineering, integration and installation firms in order to deliver
turnkey solar and other energy efficient solutions.  It provides
solar bus stops, solar trashcans and "street kiosks" that utilize
advertising offerings that provide State and local municipalities
with costs efficient solutions.  The Company provides general,
electrical, and plumbing contracting services to a range of both
public and commercials customers in support of our goals of
expanding its green energy market reach.

Sun Pacific reported a net loss of $1.77 million in 2018 following
a net loss of $2.21 million in 2017.  As of Sept. 30, 2019, the
Company had $6.67 million in total assets, $10.97 million in total
liabilities, and a total stockholders' deficit of $4.30 million.

Turner, Stone & Company, L.L.P., in Dallas, Texas, the Company's
auditor since 2017, issued a "going concern" qualification in its
report dated April 4, 2019, citing that the Company has suffered
recurring losses from operations since inception and has a
significant working capital deficiency, both of which raise
substantial doubt about its ability to continue as a going concern.


SUNCREST STONE: March 2 Hearing on 2nd Amended Disc. Statement
--------------------------------------------------------------
Judge Austin E. Carter has ordered that the court will consider
approval of the Proposed Second Amended Disclosure Statement filed
by SunCrest Stone Products, LLC, and 341 Stone Properties, LLC, on
March 2, 2020, at 9:30 a.m. in U. S. Bankruptcy Court, Courtroom B,
433 Cherry Street, Macon Georgia.

Written objections to adequacy of the Second Amended Disclosure
Statement may be filed and served on or before Feb. 24, 2020.

                 About Suncrest Stone Products

Suncrest Stone Products, LLC -- https://www.suncreststone.com/ --
is a stone supplier in Ashburn, Georgia. Its products include
Ashlar, Country Ledge, Ledge, River Rock, Olde-Castle, Splitface,
Stock, and Rubble.

Suncrest Stone Products and 341 Stone Properties, LLC, sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Ga.
Lead Case No. 18-10850) on July 13, 2018. In the petition signed by
Max Suter, authorized officer, Suncrest estimated assets of less
than $1 million and liabilities of $1 million to $10 million. 341
Stone estimated $1 million to $10 million in assets and
liabilities. Judge Austin E. Carter presides over the cases.

Stone & Baxter, LLP, is the Debtors' counsel. McMurry Smith &
Company is the accountant. Crumley and Associates Inc. d/b/a South
Georgia Appraisal Company is appraiser to the Debtor.

Christopher S. Edwards was appointed examiner on June 20, 2019.
The Examiner tapped Boyer Terry LLC as counsel, and McNair McLemore
Middlebrooks & Co., LLC, as financial advisor.


SUNSET VIEW: Silvergate Buying Davie Property for $2.5 Million
--------------------------------------------------------------
Sunset View Ranches, LLC, asks the U.S. Bankruptcy Court for the
Southern District to authorize the sale of the real property
located at 2801 SW 148th Ave, Davie, Florida, together with all
existing improvements and fixtures, to Silvergate Management, LLC
for $2.5 million, "as is."

The Debtor believes that the Purchase Price is sufficient to pay
all outstanding claims in full.   There is no financing contingency
in the Contract and it is to close no later than Jan. 30, 2020.

Additionally, the contract has a provision whereby Judtih
Villarroel, the Debtor's principal, is to receive one of the lots
included in the sale, which will be in full satisfaction of her
claim against the Debtor, which is estimated to be $138,000.

A copy of the Contract is available at https://tinyurl.com/twotduh
from PacerMonitor.com free of charge.

                  About Sunset View Ranches           

Sunset View Ranches, LLC is primarily engaged in renting and
leasing real estate properties.  It owns a property located at 2801
SW 148th Ave., Davie, Fla., which is valued at $3.2 million.

Sunset View Ranches filed a voluntary Chapter 11 petition (Bankr.
S.D. Fla. Case No. 19-25581) on Nov. 19, 2019. The petition was
signed by Judith Villarroel, manager.  The Debtor disclosed
$4,800,017 in assets and $2,110,372 in debt at the time of the
filing.

The case is assigned to Judge Scott M. Grossman.  The Debtor is
represented by Advantage Law Group, P.A.



SUZANNE FERRY: Kestenbaum Buying St. Pete Beach Property for $1.5M
------------------------------------------------------------------
Suzanne Ferry, filed with the U.S. Bankruptcy Court for the Middle
District of Florida a notice of her proposed sale of the real
property located at 550 Corey Avenue North, St. Pete Beach,
Florida, Parcel ID #36-31-15-77994-056-0030, to Adam Kestenbaum
and/or Assigns for $1.5 million.

The Debtor is the owner of the Real Property, which she has listed
on Schedule A of her Petition.  The property is not the Debtor's
Homestead.

The proposed sale of the Real Estate is not in the ordinary course
of business.  The Debtor asks authority from the Court to sell the
Real Property "as is" and "where is," free and clear of any
potential liens, with valid and enforceable liens attaching to the
proceeds of the sale.  The lien of Bayview will attach to the
proceeds.  Taxes and ordinary closing costs, including broker's
fees, will be paid at closing.   The net proceeds, after payment of
closing costs, will be held in trust by the Debtor's counsel until
the Court determines the distribution to Bayview.

A hearing on the Motion was set for Jan. 28, 2020 at 3:00 p.m.

A copy of the Contract is available at https://tinyurl.com/wt46dz8
from PacerMonitor.com free of charge.

Suzanne Ferry sought Chapter 11 protection (Bankr. M.D. Fla. Case
No. 11-01854) on Feb. 1, 2011.  On June 29, 2012, the Court
confirmed the Debtor's Fourth Amended Plan of Reorganization.



TDV DEVELOPMENT: Case Summary & 5 Unsecured Creditors
-----------------------------------------------------
Debtor: TDV Development Corporation
        2392 Morse Avenue
        Irvine, CA 92614

Business Description: TDV Development Corporation is a privately
                      held company based in Irvine, California.

Chapter 11 Petition Date: February 1, 2020

Court: United States Bankruptcy Court
       Central District of California

Case No.: 20-10374

Judge: Hon. Catherine E. Bauer

Debtor's Counsel: Robert P. Goe, Esq.
                  GOE FORSYTHE & HODGES LLP
                  18101 Von Karman Avenue
                  Suite 1200
                  Irvine, CA 92612-7127
                  Tel: (949) 798-2460
                  E-mail: rgoe@goeforlaw.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $10 million to $50 million

The petition was signed by Bruce Elieff, president.

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

                      https://is.gd/pajspD


THURSTON MANUFACTURING: Jensen Buying Thurston Property for $2.2K
-----------------------------------------------------------------
Thurston Manufacturing Co. asks the U.S. Bankruptcy Court for the
District of Nebraska to authorize the sale to Jensen Holding, LLC
of (i) the real property described as Lots 18, 19, 20, and 21,
Block 2, Highland Addition, Thurston, Nebraska, commonly known as 4
lots adjacent to 104 North 5th Street, Thurston, Nebraska for $200;
and (ii) the property commonly known as than 2 acres of rocked lot
located directly east of 1708 H Avenue, Thurston, Nebraska,
currently being used as a truck entrance to that address for
$2,000.

The Debtor has spent the last several months conducting a thorough
marketing process to obtain the best price for the 4 Lots and
Driveway.  

By the Motion to Sell Real Property, the Debtor respectfully asks
entry of an order authorizing the sale of the Debtor's Real
Property free and clear of all Interests, with any such Interests
to attach to the proceeds thereof.  

On Oct. 25, 2019 the Debtor ceased manufacturing operations at its
Thurston, Nebraska facility and significantly reduced its
workforce. Debtor has only retained essential employees as it
continues to wind down the business.  On Nov. 12, 2019, the Debtor
filed a Motion to Sell its office located at 104 North 5th Street,
Thurston, Nebraska ("Thurston Office").  On Nov. 11, 2019, the
Court granted the Motion to Sell the Thurston Office.

The buyer of the Thurston Office did not purchase the 4 Lots
adjacent to the to the Thurston Office.  The 4 Lots are unimproved
and are not being used.  The Debtor leases its manufacturing
facility in Thurston, Nebraska from Jensen.  The Debtor owns the
Driveway that leads up to the facility.  

The Debtor believes it has a sound business justification to sell
its Real Property now that it has ceased operations at its facility
in Thurston, Nebraska and the Real Property is not being used.   It
Debtor has determined that the continued maintenance and upkeep of
the Real Property is now financially burdensome and is no longer
necessary as its business winddowns.

The Debtor marketed the Real Property on its own to maximize the
proceeds from a sale of the same.  It has spent the last several
months conducting a thorough marketing process to obtain the best
sale price for the Real Property.  As part of that process, the
Debtor had two potential buyers look at the 4 Lots and two
potential buyers look at the Driveway.  Of these potential buyers,
one gave indication of interest and submitted written purchase
offers.

The Debtor entered into two separate Offers to Buy Real Estate and
Acceptance with Jensen for the 4 Lots and Driveway.  Layton Jensen
and Wayne Jensen own Jensen and are Directors of the Debtor and
Layton Jensen is a Shareholder of the Debtor.  The Buyer is an
insider as defined by 11 U.S.C. Section 101(31).  

The Debtor and the Buyer propose to enter into an agreement for the
sale of the 4 Lots for $200 pursuant to the Offer to Buy Real
Estate and Acceptance – 4 Lots.  The purchase prices of $200
represents the highest and best offer on the 4 Lots and matches the
comparable sales of lots by the Village of Thurston.  The Village
of Thurston sales lots at $50 per lot.  The Buyer of the Thurston
Office did not purchase the 4 Lots adjacent to the to the Thurston
Office.  The 4 Lots are unimproved.

The Debtor and the Buyer propose to enter into an agreement for the
sale of the Driveway for $2,000 pursuant to their Offer to Buy Real
Estate and Acceptance - Driveway.  The Driveway sits between two
parcels of land.  The manufacturing facility owned by the Buyer is
west of the Driveway.  The Driveway provides ingress and egress to
the manufacturing facility.  South of the Driveway is 10 acres of
farmland.  The buyer of the farmland is not interested in
purchasing the driveway.

The purchase price of $2,000 represents the highest and best offer
on the Driveway based on the current facts and circumstances.  The
Buyer's offers are fair and reasonable and constitute the highest
and best offers for the Real Property.

The Debtor believes that, as a result of the marketing efforts that
have been undertaken, the highest or otherwise best offers have
been obtained for the Real Property and will provide maximum value
to the Chapter 11 estate under the current circumstances.  The
Debtor submits that the combined proposed purchase price of $2,200
for the Real Property constitutes the highest or otherwise best
offers for the Real Property, on balance of the current facts and
circumstances compared to a forced liquidation.

To implement the foregoing successfully, the Debtor asks a waiver
of the notice requirements under Bankruptcy Rule 6004(a) and the
requirements under Local Rule 6004-1.

The objection deadline is Jan. 28, 2020.

A copy of the Contract is available at https://tinyurl.com/tov67sh
from PacefrMonitor.com free of charge.

               About Thurston Manufacturing Co

Thurston Manufacturing Co., a company based in Thurston, Neb.,
filed a Chapter 11 petition (Bankr. D. Neb. Case No. 19-80108) on
Jan. 23, 2019.  In the petition signed by CEO Ryan J. Jensen, the
Debtor was estimated to have $1 million to $10 million in both
assets and liabilities.  The Hon. Shon Hastings oversees the case.
Elizabeth M. Lally, Esq., at Goosman Law Firm PLC, serves as
bankruptcy counsel to the Debtor.



UNITED PF HOLDINGS: S&P Affirms 'B' ICR; Outlook Stable
-------------------------------------------------------
S&P Global Ratings affirmed its 'B' issuer credit rating on United
PF Holdings LLC. S&P assigned its 'B' issue-level rating and '3'
recovery rating to the first-lien facility and its 'CCC+'
issue-level rating and '6' recovery rating to the second-lien term
loan.

United PF plans to issue a $590 million first-lien term loan, which
includes a $65 million delayed draw term loan, due in 2027, $116
million second-lien term loan due in 2028, and $40 million
revolving credit facility due in 2025. Proceeds will be used to
finance its acquisition by financial sponsor American Securities
from Eagle Merchant Partners and JLM Financial Partners, and fund
fees and expenses.

S&P's rating on United PF primarily reflects its high leverage,
operations in the highly competitive fitness club industry with low
barriers to entry, lack of ancillary services, and
capital-intensive growth strategy. These risks are partially
mitigated by the company's franchising agreement with the
well-recognized Planet Fitness brand, exclusivity provided by
Planet Fitness development agreements, and strong internal and
acquisition growth.

The stable outlook reflects S&P's expectation that United PF will
have adequate financing to complete its development goals and begin
to reduce its high leverage in 2020 through revenue growth from
acquired and projected club construction and good EBITDA margin.

"We could lower the ratings if we believe United PF's EBITDA will
deteriorate, and EBITDA coverage of cash interest weakens and is
sustained below 2x. We could also lower ratings if lease-adjusted
debt to EBITDA is sustained above 7x," S&P said.

"While unlikely because of high anticipated leverage and the
company's financial sponsor ownership, we could consider raising
the ratings if we believe United PF will sustain our measure of
lease adjusted debt to EBITDA below 5x," the rating agency said.


UPC FINANCING: Moody's Rates New Sec. Term Loan AT Due 2028 'Ba3'
-----------------------------------------------------------------
Moody's Investors Service assigned Ba3 instrument ratings to the
new senior secured term loan AT due 2028 and senior secured term
loan AU due 2029 totaling $1,140 million (equivalent) to be raised
by UPC Financing Partnership and UPC Broadband Holding BV,
respectively. The outlook on the ratings is negative.

UPC Financing Partnership and UPC Broadband Holding BV are
subsidiaries of UPC Holding B.V. (corporate family rating Ba3,
negative outlook). The existing ratings and outlook at UPC Holding
B.V. and its subsidiaries remain unchanged. The proceeds from the
new term loans will be used to refinance $1,140 million of senior
secured notes due 2025 issued by UPCB Finance IV Limited, a
subsidiary of UPC Holding B.V.

RATINGS RATIONALE

The Ba3 rating on the new term loans AT and AU reflects their pari
passu ranking with existing senior secured bank credit facilities
and senior secured notes rated Ba3 which are ranked second for the
purpose of the loss given default model behind claims at the
operating subsidiaries, including trade payables, pension
obligations and lease rejection claims. The second-ranking position
of the senior secured debt reflects the fact that it is secured
only over the shares in the obligors held by any member of the
senior secured group or any obligor, and over intercompany loans
made by the obligors. In addition, the guarantor coverage test for
the senior secured debt is on a consolidated basis, and so, the
guarantees are from the borrower group (including only holding
companies) representing a minimum of 80% of EBITDA on a
consolidated basis. The senior unsecured notes, rated B2, issued by
UPC Holding B.V. are ranked last in priority of claims, reflecting
the fact that they are structurally subordinated to the senior
secured debt.

RATING OUTLOOK

The negative outlook reflects (1) the weakening business risk
profile of UPC following asset disposals and the increasing
exposure to the operationally challenged Swiss market, coupled with
(2) declining revenues, high leverage and weak cash flow-based
metrics.

A stabilization of the outlook will be dependent upon a return to
positive revenue and EBITDA growth and an improvement in free cash
flow generation.

WHAT COULD CHANGE THE RATING UP/DOWN

Upward pressure on the rating could develop over time if (1) UPC's
operating performance improved materially and its rebased revenue
growth trends to (at least) around 5% on a sustained basis; (2) its
adjusted Gross Debt/EBITDA ratio (as calculated by Moody's) fell
below 4.25x on a sustained basis; and (3) its cash flow generation
improved such that it achieved a Moody's adjusted CFO/ Debt ratio
above 17%.

Downward ratings pressure could develop if (1) UPC failed to
maintain its Moody's adjusted Gross Debt/EBITDA ratio at below or
around 5.25x on a sustained basis; and/ or (2) cash flow generation
did not improve such that its Moody's adjusted CFO/Debt ratio
remains materially below 12% and its free cash flow (after capex
including vendor financing repayments) remained negative on a
sustained basis.

PRINCIPAL METHODOLOGY

The principal methodology used in these ratings was Pay TV
published in December 2018.

COMPANY PROFILE

UPC Holding B.V. is a European cable company that operates in
Switzerland, Poland, and Slovakia. For the last twelve months ended
June 30, 2019, the company generated EUR1.5 billion in revenues and
EUR822 million in reported operating cash flow (OCF) from
continuing operations.



VALLEY ECONOMIC: U.S. Agencies Say Plan Can't Be Confirmed
----------------------------------------------------------
The United States, on behalf of its Departments of Agriculture
(USDA), Commerce, Health and Human Services (HHS), the Small
Business Administration (SBA) and the Treasury (each an Agency and
collectively the Agencies), submitted an objection to the December
17, 2019 disclosure statement describing the proposed
reorganization plan debtor Valley Economic Development Center
(VEDC).

The U.S. says the Disclosure Statement should not be approved
because it describes a Plan that cannot be confirmed.  Bankruptcy
courts in this Circuit1 and throughout the nation refuse to approve
disclosure statements when the plans underlying them are not
confirmable.

The Plan, according to the U.S., ignores the unity of the United
States as a creditor and extinguishes agencies' setoff rights as to
their secured claims, in violation of Section 506.  The Plan does
so by limiting collections on a particular Agency's secured claims
to that Agency’s claims and requiring each Agency to remit any
additional funds to the Liquidating Trust.

The U.S. notes that the Disclosure Statement entirely fails to
include any mention of or account for SBA's Community Advantage
Loan Program loan claims, as well as its setoff claims, in which
SBA has a liquidated, non-contingent claim of approximately $1.5
million that is secured by a setoff claim of approximately $1
million. Because the Plan does not preserve the Agencies' setoff
rights, it fails to meet the confirmation prerequisite of 11 U.S.C.
Sec. 1129(a)(1).  As a result, the Disclosure Statement, which
describes the Plan, should not be approved, the U.S. tells the
Court.

The U.S. adds that the Disclosure Statement lacks adequate
information as required by Section 1125 because it fails to
describe or identify, with any specificity, the property that the
Debtor will return to certain Agencies.  The Disclosure Statement
recites several categories of property in which the Agencies have
interests and how that property is to be treated under the Plan,
without noting what property, if any, falls into those categories
for each Agency.

The Debtor's most recent financial reporting, for the period ending
September 30, 2019, reveals shortfalls in RLF funding of
$740,193.99 for EDA Merged Grant Awards 07-19-62009 and 07-19-62019
and $55,516.28 for EDA Grant Award 07-19-02709.  The Disclosure
Statement also does not acknowledge that this shortfall may result
in an unsecured claim.

A full-text copy of the United States' objection to disclosure
dated Jan. 14, 2020, is available at https://tinyurl.com/qwzdvxu
from  PacerMonitor.com at no charge.

           About Valley Economic Development Center

Valley Economic Development Center, Inc., a certified Community
Development Financial Institution, is a California tax-exempt
non-profit corporation whose mission is to provide financing
assistance, management consulting, and training to entrepreneurs
and small business owners in and around Los Angeles County and
throughout California. Those services include business training for
start-up and fledgling small businesses as well as services to more
established existing small businesses.

Valley Economic Development Center sought protection under Chapter
11 of the Bankruptcy Code (Bankr. C.D. Cal. Case No. 19-11629) on
July 2, 2019. At the time of the filing, the Debtor was estimated
to have assets between $10 million and $50 million and liabilities
of the same range. The case has been assigned to Judge Deborah J.
Saltzman. Levene, Neale, Bender, Yoo & Brill L.L.P. is the Debtor's
bankruptcy counsel.


VARTEK LLC: Unsec. Creditors to Get What's Left of Sale Proceeds
----------------------------------------------------------------
VARTEK, L.L.C., filed an Amended Plan of Liquidation that proposes
to pay off outstanding claims from what's left of the sale
proceeds.

The Debtor determined that it would be in the best interests of its
creditors and the estate to maximize value through a sale of
substantially all of its assets pursuant to Section 363 of the
Bankruptcy  Code.  

On Oct. 18, 2019, the Debtor filed a motion seeking approval for
the sale of substantially all assets to American Vinyl.  On Nov. 5,
2019, the Bankruptcy Court approved the transaction.  The sale
transaction closed in November 2019.  The Debtor is holding the
balance of the sale proceeds remaining after the payment of the DIP
Loan Claims.  
  
The Plan provides:

   * Class 4 Allowed Unsecured Claims.  IMPAIRED. Each Holder of an
Allowed Class 4 General Unsecured Claim shall receive: (1) the
balance of the Sale Proceeds remaining after the payment of: (a)
all Allowed Administrative Expense Claims, including Professional
Fees and fees payable pursuant to Chapter 123 of Title 28, United
States
Code, 28 U.S.C. Sec. 1911-1930; (b) amounts required to make
distributions to creditors with Allowed Claims and close the
Bankruptcy Case, (c) all Allowed Priority Tax Claims; (d) all
Allowed Priority Claims; and (e) all Allowed Secured Claims
including Allowed Secured Tax Claims; and (2) any other recoveries
realized by the Debtor on account of the Excluded Assets.

   * Class 5: Equity Interests. Class 5 consists of all Equity
Interests. On the Effective Date, the Equity Interests shall be
cancelled and extinguished.  Class 5 is deemed to have rejected the
Plan and is therefore not entitled to vote to accept or reject the
Plan.

The Plan did not provide for an estimated recovery for holders
unsecured claims.

In the opinion of the Debtor, the treatment of Claims and Interests
under  the Plan contemplates a substantially greater recovery than
that which is likely to be achieved under other alternatives for
the reorganization or liquidation of the Debtor.  If the Plan is
not confirmed, unsecured creditors may be left with little or no
recovery.

A full-text copy of the Amended Disclosure Statement dated Jan. 24,
2020, is available at https://tinyurl.com/w92asvu from
PacerMonitor.com at no charge.

Counsel for the Debtor:

     Amy Denton Harris
     STICHTER, RIEDEL, BLAIN & POSTLER, P.A.
     110 East Madison Street, Suite 200
     Tampa, Florida 33602
     Telephone: (813) 229-0144
     E-mail: aharris@srbp.com

                      About Vartek L.L.C.

Vartek, L.L.C. -- https://vartekllc.com/ -- is a privately owned
manufacturer of flexible PVC hose and tubing.  It manufactures
reinforced hose and non-reinforced tubing products, and serves the
construction, industrial, irrigation, landscape, marine, medical,
pool, spa and waterscape markets.  Vartek maintains a warehouse in
Tampa, Fla., and a warehouse in San Diego, Calif.

Vartek sought Chapter 11 protection (Bankr. M.D. Fla. Case No.
19-08083) on Aug. 26, 2019.  In the petition signed by CRO William
A. Long Jr., the Debtor was estimated to have assets of $1 million
to $10 million and liabilities of $10 million to $50 million. Judge
Catherine Peek McEwen oversees the Debtor's case.  Stichter,
Riedel, Blain & Postler, P.A. is the Debtor's legal counsel.


VERMILLION INC: Granted Until July 27 to Regain Nasdaq Compliance
-----------------------------------------------------------------
Vermillion, Inc., received a written notice on Jan. 30, 2020, from
the Listing Qualifications Department of the Nasdaq Stock Market
that the Company has been granted an additional 180 calendar days,
or until July 27, 2020, to regain compliance with the minimum
closing bid price of $1.00 per share, as is required for continued
listing on The Nasdaq Capital Market pursuant to Nasdaq Listing
Rule 5550(a)(2).

As the Company previously reported on that certain Current Report
on Form 8-K filed on Aug. 6, 2019 with the U.S. Securities and
Exchange Commission, on Aug. 2, 2019, the Company received a
deficiency letter from the Staff notifying the Company that, for
the preceding 30 consecutive business days, the Company had not
been in compliance with the Bid Price Requirement.  In accordance
with Nasdaq rules, the Company was provided an initial period of
180 calendar days, or until Jan. 29, 2020, to regain compliance
with the Bid Price Requirement.  The Initial Notice also provided
that the Company may be eligible for an additional 180 calendar day
compliance period if it provided a written notice to Nasdaq of its
intent to cure such deficiency.

As the Company did not regain compliance with the Bid Price
Requirement by the Initial Compliance Date, the Company applied for
an extension of the cure period, as permitted under the Initial
Notice.  The Staff granted the Company such extension of the cure
period because (i) the Company has indicated that, to the extent
necessary, it intends to cure the deficiency by effecting a reverse
stock split and (ii) the Company meets the continued listing
requirement for the market value of publicly held shares and all
other initial listing standards for The Nasdaq Capital Market, with
the exception of the Bid Price Requirement.

According to the Notice, if at any time before July 27, 2020 the
closing bid price for the Company's common stock is at least $1.00
per share for a minimum of 10 consecutive business days, the Staff
will provide written confirmation of compliance with the Bid Price
Requirement and the common stock will continue to be eligible for
listing on The Nasdaq Capital Market.

If the Company does not regain compliance with the Bid Price
Requirement by July 27, 2020, the Staff will provide a written
notification to the Company that its common stock will be subject
to delisting.  At that time, the Company may appeal the Staff's
delisting determination to a Nasdaq Hearing Panel.  The Company
expects that its common stock would remain listed pending the
Panel's decision.  There can be no assurance that the Company will
regain compliance or otherwise maintain compliance with any of the
other listing requirements.

                        About Vermillion

Headquartered in Austin, Texas, Vermillion, Inc. --
http://www.vermillion.com/-- is transforming women's health with
the discovery, development and commercialization of innovative
testing options and bio-analytical solutions that help physicians
assess risk, optimize patient management and improve gynecologic
health outcomes for women.  OVA1 plus combines the Company's
FDA-cleared products OVA1 and OVERA to detect risk of ovarian
malignancy in women with adnexal masses.  Recently launched, ASPiRA
GenetiXSM testing offers both targeted and comprehensive genetic
testing options with a gynecologic focus.  With over 10 years of
expertise in ovarian cancer risk assessment Vermillion has
expertise in cutting-edge research to inform the Company's next
generation of products.

Vermillion reported a net loss of $11.37 million for the year ended
Dec. 31, 2018, following a net loss of $10.50 million for the year
ended Dec. 31, 2018.  As of Sept. 30, 2019, the Company had $16.53
million in total assets, $4.71 million in total liabilities, and
$11.83 million in total stockholders' equity.

BDO USA, LLP, in Austin, Texas, the Company's auditor since 2012,
issued a "going concern" qualification in its report dated March
28, 2019, citing that the Company has suffered recurring losses
from operations and has net cash flows deficiencies that raise
substantial doubt about its ability to continue as a going concern.


VERTIV GROUP: Moody's Assigns B1 CFR, Outlook Stable
----------------------------------------------------
Moody's Investors Service assigned Vertiv Group Corporation a B1
corporate family rating, a B1-PD probability of default rating, and
a B1 secured rating to its proposed $2.2 billion 7-year term loan B
planned in connection with new ownership. Moody's also assigned
Vertiv an SGL-2 speculative grade liquidity rating. The rating
outlook is stable.

Moody's has withdrawn the Caa1 CFR and Caa1-PD PDR at Vertiv
Intermediate Holdings Corporation and assigned them at Vertiv. Upon
completion of the transaction, Moody's will also withdraw the Caa3
rating on the PIK toggle notes at Vertiv Intermediate, and the B2
rating on the existing term loan B and Caa2 rating on the senior
unsecured and senior secured notes at Vertiv Group, as those will
all be repaid as well.

This rating action concludes the review for upgrade initiated on
December 10, 2019 when GS Acquisition Holdings Corp, a special
purpose acquisition company, announced plans to acquire a stake in
Vertiv. GSAH's $1.9 billion purchase will be funded with $690
million from the SPAC IPO together with $1.2 billion via a private
investment in a public entity.

"The change in Vertiv's ownership and the accompanying
recapitalization is a game changer for the company, reducing its
debt-to-EBITDA to about 5 times from over 7.5 times and
meaningfully improving its future prospects" said Brian Silver, a
Moody's Vice President and lead analyst for Vertiv.

"After several years and hundreds of millions of dollars spent on
restructuring, largely funded with debt, we now expect Vertiv to
generate about $100 million of free cash flow in 2020 and more than
twice that in 2021, while debt-to-EBITDA declines from about 5
times to the 4 - 4.5 times range by 2021," continued Silver.

RATINGS RATIONALE

Vertiv Group Corporation's ratings reflect Moody's expectation for
significant improvement in free cash flow, and a steady decline in
financial leverage from what is a still somewhat elevated level.
Near term free cash flow will be from lower interest expense, as
Vertiv will repay roughly $1.46 billion of existing debt including
more than $1.3 billion from a term loan and all of the ABL
borrowings.

Higher and more stable free cash flow should develop in time from
lower costs as well as prospects for productive penetration of its
growing addressable market. The cost structure and go-to-market
strategies should both improve as Vertiv is concluding its lengthy
business restructuring and internal consolidation. This
restructuring was necessary to rationalize what had been a
consolidation of a number of companies serving the data center
market. Vertiv's addressable market is expected to grow solidly for
some time, and Vertiv is finally positioned to participate in that
activity. The company already demonstrates improving earnings
quality with lower management deemed one-time adjustments to
EBITDA.

The company is substantial, with about $4.4 billion of revenue for
the twelve months ended September 30, 2019, as Vertiv has had a
meaningful presence in the growing data center market for some
time. Margins are expected to expand driven by pricing initiatives
and a mix-shift to higher margin products, along with improved
efficiency from large restructuring investments. Vertiv is also
well diversified from both a customer and geographic perspective.

Nonetheless, the company has a still to be demonstrated track
record for profitable growth under its new ownership structure,
coming on the heels of several years of significant cash outflows
primarily from restructuring initiatives aimed at improving
operating efficiency. Vertiv competes in a highly competitive space
characterized by pricing pressure from large customers, and its
profit margins have been materially below its competitors. Although
leverage is significantly improved, pro forma for the planned
refinancing the debt-to-EBITDA is still elevated at 5 times
debt-to-EBITDA for the twelve months ended September 30, 2019.

Vertiv will have good liquidity as reflected by its SGL-2
speculative grade liquidity rating, based on cash expected to
exceed $150 million, at least $100 million of free cash flow
generation for FY 20, and access to its undrawn $455 million ABL
(net of about $25.5 million for outstanding letters of credit).

The stable outlook reflects Moody's expectation that the company
will grow its topline in the low single digits and de-leverage to
around 4.5 times debt-to-EBITDA by mid to late 2021, with higher
free cash flow and while also gradually expanding its operating
margin.

The ratings could be upgraded if the company continues to grow its
size and scale, debt-to-EBITDA is expected to be better than the
high 3 times range with improvement from both profit growth and
debt reduction, steady free cash flow, demonstrated market
penetration, EBITA-to-interest expense approaches 5 times, and free
cash flow-to-debt is sustained above 10%.

The ratings could be downgraded if debt-to-EBITDA weakens to above
5.5 times or does not decline at the pace Moody's is expecting,
EBITA-to-interest expense is sustained below 3 times, free cash
flow-to-debt is sustained below 5% or liquidity weakens. In
addition, if the company makes a large debt financed acquisition or
financial policy becomes increasingly aggressive, the ratings could
face pressure.

Moody's views Vertiv's Environmental, Social and Governance (ESG)
risk as relatively low. The company's governance risk has eased
following the change in shareholder composition, as the company
will be publicly traded on the NYSE as opposed to being owned and
controlled by a PE sponsor (Platinum Equity). As a result, the
company is not anticipated to make large dividends or engage in any
transformational acquisitions over the next few years, whereas
under its prior ownership structure, Vertiv made two large dividend
payments to shareholders, one funded with debt and another using
proceeds from the sale of a business.

The following rating actions were taken:

Assignments:

Issuer: Vertiv Group Corporation

Corporate Family Rating, Assigned B1

Probability of Default Rating, Assigned B1-PD

Speculative Grade Liquidity Rating, Assigned SGL-2

Senior Secured Bank Credit Facility, Assigned B1 (LGD3)

Withdrawals:

Issuer: Vertiv Intermediate Holding Corporation

Corporate Family Rating, Withdrawn, previously rated Caa1

Probability of Default Rating, Withdrawn, previously rated Caa1-PD

Outlook Actions:

Issuer: Vertiv Group Corporation

Outlook, Changed to Stable from Rating Under Review

Issuer: Vertiv Intermediate Holding Corporation

Outlook, Remains unchanged at Rating Under Review

The principal methodology used in these ratings was Global
Manufacturing Companies published in June 2017.

Vertiv Group Corporation, headquartered in Columbus, Ohio, provides
various infrastructure technologies and equipment for power and
thermal management and infrastructure monitoring services used in
data centers, communication networks, and commercial and industrial
environments. The company is in the process of executing a reverse
merger and will be a publicly-traded entity that will be 20% owned
by public shareholders, 37% owned by private investment in a public
entity investors (PIPE), 38% owned by prior majority PE sponsor
Platinum Equity, and 5% owned by founders of Goldman Sachs
Acquisition Holdings Corp. The company generated total revenue of
roughly $4.4 billion for the twelve months ended September 30,
2019.


VIDEO CORPORATION: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Video Corporation of America
        7 Veronica Ave.
        Somerset, NJ 08873

Business Description: Video Corporation of America offers full-
                      scale design, engineering, project
                      management, fabrication, installation and
                      support services for AV, broadcast and post-
                      production applications.  The Company
                      designs, engineers, integrates, manages, and

                      maintains technology systems.

Chapter 11 Petition Date: February 3, 2020

Court: United States Bankruptcy Court
       District of New Jersey

Case No.: 20-11768

Judge: Hon. Christine M. Gravelle

Debtor's Counsel: Daniel M. Stolz, Esq.
                  WASSERMAN, JURISTA & STOLZ, P.C.
                  110 Allen Road, Suite 304
                  Basking Ridge, NJ 07920
                  Tel: (973) 467-2700
                  E-mail: attys@wjslaw.com

Total Assets: $8,107,684

Total Liabilities: $11,158,360

The petition was signed by David Berlin, president.

A copy of the petition containing, among other items, a list of the
Debtor's 20 largest unsecured creditors is available for free at
PacerMonitor.com at:

                      https://is.gd/Hi8wZ9


VISTAGEN THERAPEUTICS: Gets FDA Clearance for AV-101 IND
--------------------------------------------------------
VistaGen Therapeutics' Investigational New Drug (IND) application
for AV-101, the Company's oral NMDAR (N-methyl-D-aspartate
receptor) glycine site antagonist, as a potential treatment of
dyskinesia in patients with Parkinson's disease receiving
levodopa-based therapy has been cleared by the U.S. Food and Drug
Administration (FDA).  The FDA's IND clearance permits VistaGen to
proceed with Phase 2 clinical development of AV-101 in this
indication.  The Company also announced that the U.S. Patent and
Trademark Office (USPTO) has issued a Notice of Allowance for U.S.
Patent Application 16/003,816 related to therapeutic use of AV-101
for treatment of dyskinesia induced by the administration of
levodopa.  The patent, once issued, will be in effect until at
least 2034.

"Current drug treatment options for levodopa-induced dyskinesia, or
LID, may cause serious side effects, including hallucinations and
sedation.  In all clinical studies to date, AV-101 has not been
associated with any psychotomimetic side effects or drug-related
serious adverse events.  With its exceptional safety profile,
recently successful preclinical studies in the leading primate
model for LID, and the successful Phase 1b NMDAR target engagement
clinical study conducted by Baylor College of Medicine in healthy
volunteer U.S. military Veterans, we are excited by AV-101's
potential as a novel therapy for LID," said
Shawn Singh, chief executive officer of VistaGen.  "These are
important milestones for our AV-101 program, both a key regulatory
advance and expanded commercial protection for AV-101 in the U.S.
market."

                         About VistaGen

Headquartered in San Francisco, California, VistaGen Therapeutics
-- www.vistagen.com -- is a clinical-stage biopharmaceutical
company developing new generation medicines for CNS diseases and
disorders where current treatments are inadequate, resulting in
high unmet need.  VistaGen's pipeline is focused on clinical-stage
CNS drug candidates with a differentiated mechanism of action, an
exceptional safety profile in all clinical studies to date, and
therapeutic potential in multiple large and growing CNS markets.

Vistagen reported a net loss attributable to common stockholders of
$25.73 million for the fiscal year ended March 31, 2019, compared
to a net loss attributable to common stockholders of $15.57 million
for the year ended March 31, 2018.  As of Sept. 30, 2019, the
Company had $8.73 million in total assets, $12.36 million in total
liabilities, and a total stockholders' deficit of $3.63 million.

OUM & CO. LLP, in San Francisco, California, the Company's auditor
since 2006, issued a "going concern" qualification in its report
dated June 25, 2019, citing that the Company has not yet generated
sustainable revenues, has suffered recurring losses and negative
cash flows from operations and has minimal stockholders' equity,
all of which raise substantial doubt about its ability to continue
as a going concern.


VISTAGEN THERAPEUTICS: Lincoln Park, et al. Report 9.6% Stake
-------------------------------------------------------------
In a Schedule 13G filed with the Securities and Exchange
Commission, these entities and individuals reported that as of Jan.
24, 2020, they beneficially own 4,614,602 shares of common stock of
Vistagen Therapeutics, Inc., which represents 9.62 percent of the
shares outstanding:

   * Lincoln Park Capital Fund, LLC
   * Lincoln Park Capital, LLC
   * Rockledge Capital Corporation
   * Joshua B. Scheinfeld
   * Alex Noah Investors, Inc.
   * Jonathan I. Cope

Based on information contained in the Issuer's final prospectus
supplement dated Jan. 24, 2020 to the Issuer's prospectus dated
Sept. 30, 2019, filed with the SEC on Jan. 24, 2020, there were a
total of 47,963,042 shares of Common Stock outstanding as of Jan.
24, 2020, which number of outstanding shares includes (i) the
2,814,602 shares of Common Stock that were purchased by LPC Fund
directly from the Issuer on Jan. 24, 2020 in the January 2020
Public Offering and (ii) the 800,000 shares of Common Stock
acquired by LPC Fund on Dec. 19, 2019 upon exercise of the August
2018 Warrants, and assumes all 1,000,000 shares of Common Stock
currently underlying the December 2017 Warrants were outstanding as
of Jan. 24, 2020, but does not assume the 2,814,602 shares of
Common Stock currently underlying the January 2020 Warrants are
outstanding on such date, because the January 2020 Warrants cannot
be exercised prior to the Initial Exercise Date of July 24, 2020,
which is more than 60 days after the date this statement was filed
with the SEC.

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

                       https://is.gd/kPyPVh

                          About VistaGen

Headquartered in San Francisco, California, VistaGen Therapeutics
-- www.vistagen.com -- is a clinical-stage biopharmaceutical
company developing new generation medicines for CNS diseases and
disorders where current treatments are inadequate, resulting in
high unmet need.  VistaGen's pipeline is focused on clinical-stage
CNS drug candidates with a differentiated mechanism of action, an
exceptional safety profile in all clinical studies to date, and
therapeutic potential in multiple large and growing CNS markets.

VistaGen reported a net loss attributable to common stockholders of
$25.73 million for the fiscal year ended March 31, 2019, compared
to a net loss attributable to common stockholders of $15.57 million
for the year ended March 31, 2018.  As of Sept. 30, 2019, the
Company had $8.73 million in total assets, $12.36 million in total
liabilities, and a total stockholders' deficit of $3.63 million.

OUM & CO. LLP, in San Francisco, California, the Company's auditor
since 2006, issued a "going concern" qualification in its report
dated June 25, 2019, citing that the Company has not yet generated
sustainable revenues, has suffered recurring losses and negative
cash flows from operations and has minimal stockholders' equity,
all of which raise substantial doubt about its ability to continue
as a going concern.


VIVALDI MUSIC: Feb. 25, 2020 Plan & Disclosure Hearing Set
----------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Texas,
Houston Division, convened a hearing to consider the motion of
debtor Vivaldi Music Academy, LLC to Conditionally Approve Debtor's
Disclosure Statement and Set Combined Hearing on Final Approval of
the Disclosure Statement and Confirmation of Chapter 11 Plan.

On Jan. 14, 2020, Judge Eduardo V. Rodriguez conditionally approved
the Disclosure Statement and established the following dates and
deadlines:

   * Feb. 17, 2020, at 5:00 p.m. (prevailing Central Time) is the
deadline for filing and serving written objections to confirmation
of the Plan pursuant to Fed. R. Bankr. P. 3017(b)(1) or final
approval of the Disclosure Statement under 11 U.S.C. Sec. 1125 and
Fed. R. Bankr. P.

   * Feb. 17, 2020, at 5:00 p.m. (prevailing Central Time) is the
deadline for filing ballots accepting or rejecting the Plan.

   * The Court will conduct an evidentiary hearing in Courtroom
402, 4th floor, 515 Rusk, Houston, Texas, 77002 to consider final
approval of the Disclosure Statement and confirmation of the Plan
on Feb. 25, 2020 at 11:00 a.m. (prevailing Central Time).

A full-text copy of the order dated January 14, 2020, is available
at https://tinyurl.com/vc7fhaz from PacerMonitor.com at no charge.

                   About Vivaldi Music Academy

Vivaldi Music Academy offers private music lessons in piano,
violin, guitar, cello, voice and more. It also offers group lessons
in guitar and voice, jazz ensemble, classical ensemble, rock band,
and early childhood music development classes.

Vivaldi Music Academy, LLC, based in Houston, TX, filed a Chapter
11 petition (Bankr. S.D. Tex. Case No. 19-33978) on July 18, 2019.
In the petition signed by Zeljko Pavlovic, manager, the Debtor was
estimated to have $100,000 to $500,000 in assets and $1 million to
$10 million in liabilities.  The Hon. Eduardo V. Rodriguez oversees
the case.  Susan Tran, Esq., at Corral Tran Singh LLP, serves as
bankruptcy counsel to the Debtor.


VIVALDI MUSIC: Unsecureds Get $8,500 Per Month for 36 Months
------------------------------------------------------------
Vivaldi Music Academy, LLC, filed a plan of reorganization.

According to the Disclosure Statement, payments and distributions
under the Plan will be funded from the continued operations of VMA.
VMA intends increasing its tuition on a yearly basis and opening a
new location in the fall of 2021.  The post-confirmation management
of the Debtor will remain with Zeljko Pavlovic.

The Debtor believes potential recovery from avoidable transfers
exists  and anticipates pursuing these actions post-confirmation.
The Debtor  estimates recovery to be approximately $147,885 to
benefit the holders of general unsecured claims.

The Debtor is currently finalizing its 3 year projections and will
supplement the Plan and Disclosure Statement with its projections.

The Plan treats claims as follows:

   * Class 1 Secured General Claims.  IMPAIRED.  Holders of Allowed
Secured Claims in Class 1 shall receive monthly pro rata cash
payments up to the amount of their secured claims as provided by
Section 506(a) of the Bankruptcy Code with payments commencing 30
days after the Effective Date for a term of 36 months with interest
bearing at 6.5 percent per annum.

   * Class 2 Claims Secured by Equipment.  IMPAIRED.  Holders of
allowed claims secured by the Debtor's equipment in Class 2 will
receive monthly cash payments of $1,410 with payments commencing 30
days after the Effective Date for a term of 24 months in full
satisfaction of its claim.

   * Class 3 Secured Ad Valorem Tax Claims.  IMPAIRED.  Holders of
Secured Claims in Class 3, which will include Spring Branch ISD,
will receive payment of their claims on the Effective Date with
interest bearing per the applicable statutory non-bankruptcy law
from the Petition Date.

   * Class 4 General Unsecured Claims.  IMPAIRED.  Holders of
general unsecured claims will receive, in full satisfaction of
their claims, monthly pro rata cash payments of $8,500 for the term
of 36 months beginning 30 days from the Effective Date.

   * Class 6 Equity Interest Holders.  IMPAIRED.  Equity Interest
Holders in Class 6 will retain their interest in exchange for a
release of their claims against the estate and an additional
capital contribution to the Reorganized Debtor.

The Liquidation Analysis estimates that holders of general
unsecured claims (including deficiency claims), totaling $1.174
million, won't recovery anything in a Chapter 7 liquidation.

A full-text copy of the Disclosure Statement dated Jan. 13, 2020,
is available at https://tinyurl.com/tk23rtw from PacerMonitor.com
at no charge.

Attorneys for the Debtor:

     Adam Corral
     Susan Tran
     Brendon Singh
     CORRAL TRAN SINGH, LLP
     1010 Lamar, Suite 1160
     Houston TX 77002
     Tel: (832) 975-7300
     Fax: (832) 975-7301
     E-mail: Susan.Tran@ctsattorneys.com

                 About Vivaldi Music Academy

Vivaldi Music Academy offers private music lessons in piano,
violin, guitar, cello, voice and more.  It also offers group
lessons in guitar and voice, jazz ensemble, classical ensemble,
rock band, and early childhood music development classes.

Vivaldi Music Academy, LLC, based in Houston, TX, filed a Chapter
11 petition (Bankr. S.D. Tex. Case No. 19-33978) on July 18, 2019.
In the petition signed by Zeljko Pavlovic, manager, the Debtor was
estimated to have $100,000 to $500,000 in assets and $1 million to
$10 million in liabilities.  The Hon. Eduardo V. Rodriguez oversees
the case.  Susan Tran, Esq., at Corral Tran Singh LLP, serves as
bankruptcy counsel to the Debtor.


WESTERN RESERVE: KeyBank Wants Plan Payments Clarified
------------------------------------------------------
KeyBank National Association objects to Western Reserve Water
Systems, Inc.'s Disclosure Statement and Plan of Reorganization.

KeyBank objects to the Debtor's Plan and Disclosure Statement in
order to confirm the applicable deadline by which all KeyBank
secured claims must be paid in full and to clarify required monthly
payments in addition to interest.

KeyBank also objects to the Class Three Plan treatment of the
Secured Claim of KeyBank to clarify and confirm that in addition to
interest, a minimum of $40,000 in principal will be paid to KeyBank
monthly.

Similarly, KeyBank objects to the Class Four Plan treatment of the
Secured Lease claims of KeyBank to clarify and confirm that in
addition to interest, monthly lease payments shall be paid to
KeyBank.

Attorneys for KeyBank, National Association:

     Michael P. Shuster, Esq.
     Porter Wright Morris & Arthur LLP
     950 Main Ave., Suite 500
     Cleveland, Ohio 44113-7206
     Tel: 216-443 -2510
     Fax: 216-443-9011
     E-mail: mshuster@porterwright.com

                About Western Reserve Water Systems

Western Reserve Water Systems, Inc. --
http://www.westernreservewater.com/-- is an industrial water
service company offering a wide range of equipment, services,
parts, and consulting services for the industrial process water and
high purity water user.  Western Reserve Water Systems services are
supplied to various industries, such as power generation, chemical
processing, auto, steel, food & beverage, pharmaceutical, hospital,
medical, laboratory and light industrial and commercial markets.
The Company's service center and regeneration facility is currently
located in Cleveland, Ohio, with satellite service locations in
Cincinnati, Ohio, and Terre Haute, Indiana.

Western Reserve Water Systems sought Chapter 11 protection (Bankr.
N.D. Ohio Case No. 19-11864) on April 1, 2019.  In the petition
signed by Michael Eiermann, president, the Debtor disclosed total
assets at $10,285,282 and $4,306,486 in total debt.  The case is
assigned to Judge Jessica E. Price Smith.  The Debtor tapped Glenn
E. Forbes, Esq., at Forbes Law, LLC, as counsel.


WESTPORT HOLDINGS: Trustee Asks Final Approval of All Assets Sale
-----------------------------------------------------------------
Jeffrey W. Warren, as the Liquidating Trustee for Westport Holdings
Tampa, Limited Partnership and Westport Holdings Tampa II, Limited
Partnership, asks the U.S. Bankruptcy Court for the Middle District
of Florida to issue a final order authorizing them to sell
substantially all of the assets of the Debtors and Westport Nursing
Tampa, L.L.C. ("WNT"), to Quality Senior Housing Foundation, Inc.
("QSH") for an amount consisting of (i) cash sufficient to pay the
following liabilities or obligations of the Debtors; (ii) the
assumption by the Purchaser of the liabilities or obligations of
the Debtors; (iii) an amount for the WNT Purchased Assets
consisting of cash sufficient to pay the liabilities or obligations
of WNT; and (iv) the amount necessary to satisfy in full and/or
remove the mortgage lien and any other lien or security interest
held or asserted by CNH Finance.

On Feb. 26, 2019, the Court entered its Interim Sale Order,
authorizing and directing the Liquidating Trustee to take all
necessary and appropriate steps to proceed with the transactions
contemplated in the Asset Purchase Agreement between the
Liquidating Trustee and the Buyer, subject only to entry of a final
sale order by the Court and obtaining regulatory approval from the
Florida Office of Insurance Regulation ("OIR").

By the Motion, the Liquidating Trustee asks entry of a final order
authorizing the sale of substantially all of the Debtors' assets to
the Buyer and the assumption and assignment of the Assumed
Contracts to the Buyer, subject only to obtaining regulatory
approval from the OIR.

Although the Interim Sale Order and Purchase Agreement permit QSH
to acquire the assets owned by WNT relating to the 110-bed assisted
living facility and the 120-bed skilled nursing facility located at
12250 North 22nd Street, Tampa, Florida 33612 ("WNT Assets"), the
Liquidating Trustee is not seeking authority to sell the WNT Assets
at this time.  Pursuant to the July 9, 2019 letter, the Buyer has
confirmed that the WNT Assets are excluded from its acquisition
under the Purchase Agreement.

The Liquidating Trustee has negotiated the final terms for QSH's
acquisition of substantially all of the Debtors' assets and asks
final approval of the sale of the Purchased Assets free and clear
of all liens, claims, and encumbrances, with any liens, claims, or
encumbrances to attach to the proceeds of the Sale to the same
extent, validity, and priority as existed prior to the Closing and
to be paid or otherwise treated as set forth.

In the Interim Sale Order, the Court already found that
consummation of the Sale will best maximize the value of the
Purchased Assets for the benefit of the creditors of the Debtors.

The Sale will result in sufficient proceeds to pay all secured
claims in full, or as otherwise agreed.  Specifically, the
following claims and liens will be paid from the Sale Proceeds:

     (a) Satisfaction of CPIF DIP Claims and Liens: Pursuant to
orders of the Court, the Debtors were authorized to borrow $2.5
million from CPIF Lending, LLC on a post-confirmation basis and
secured by liens on all of the assets of the Debtors, including a
mortgage on the real property of the Debtors.  Currently, the
Debtors have drawn approximately $2.44 million under the
post-confirmation CPIF DIP facility and the Debtors expect to fully
draw the balance of the facility prior to Closing on the Sale of
the Purchased Assets.  Accordingly, at the Closing and from the
cash proceeds of the sale, the Debtors will pay CPIF such amount as
is necessary to satisfy all principal, accrued interest through
Closing, and any fees accrued pursuant to the terms of the CPIF DIP
Facility (such amounts are estimated to be approximately $2.75
million) in full and final satisfaction of all claims, liens, and
encumbrances that CPIF may have under the CPIF DIP Facility.

     (b) Satisfaction of Southpoint DIP Claims and Liens: By
separate motion, the Liquidating Trustee and Southpoint Global
Investments, LLC have jointly sought the Court's approval of a
settlement and compromise of their disputes regarding the exit
financing facility provided by Southpoint to the Debtors by order
of the Court, pursuant to which the Liquidating Trustee has sought
authority to pay $325,000 to Southpoint at Closing in full and
final satisfaction of any and all claims, liens, and encumbrances
that Southpoint asserts against the Purchased Assets.

     (c) Satisfaction of Disputed Secured Claim and Liens of CPIF:
CPIF also asserts liens against the Purchased Assets by virtue of a
prepetition loan made to the Debtors, as set forth in Claim No. 22
filed against Westport I and Claim No. 2 filed against Westport II.
The Liquidating Trustee disputes the extent, validity, and
priority of CPIF’s liens, which disputes are currently the
subject of that adversary proceeding styled Jeffrey W. Warren, as
Liquidating Trustee vs. CPIF Lending, LLC, Adv. Pro. No.
8:18-ap-00102-MGW pending before the Court.  At Closing, the
Liquidating Trustee will either pay CPIF an amount in cash as
agreed to by CPIF and Liquidating Trustee or, in accordance with
the Confirmation Order, the Buyer will fund the CPIF Reserve in
full from the Sale Proceeds before any other Sale Proceeds are used
by the Liquidating Trustee for any other purpose.

     (d) Satisfaction of Other Allowed Secured Claims and Liens: At
the Closing from the Sale Proceeds, the Liquidating Trustee
proposes to pay (i) $26,880 to Prospect Construction & Development
Group in full and final satisfaction of any and all claims, liens,
and encumbrances that Prospect Construction asserts against the
Purchased Assets, including that certain Claim of Lien recorded in
the Official Records of Hillsborough County, Book 24134, Page 821,
on June 3, 2016; (ii)  $28,758.71 to Vogel Strategic Investments,
L.P. in full and final satisfaction of any and all claims, liens,
and encumbrances that Vogel asserts against the Purchased Assets by
way of its acquisition of Claim No. 69-1 filed by Team Construction
Services against Westport I and subsequently transferred to Vogel,
including but not limited to that certain Claim of Lien recorded in
the Official Records of Hillsborough County, Book 24023, Pages
118-121, on April 19, 2016; and (iii) $262,938.97 to US Lifestyles,
LLC in full and final satisfaction of any and all claims, liens,
and encumbrances that US Lifestyles was granted pursuant to the
terms of the Court's order allowing such claim.

     (e) Satisfaction or Real Estate and Personal Property Taxes:
Hillsborough County asserts liens on the Debtors' real property by
virtue of unpaid ad valorem real estate taxes due for years 2016
through 2019, which liens are superior to all other liens and
claims asserted against the Purchased Assets.  At the Closing, the
Liquidating Trustee proposes to pay the Hillsborough County Tax
Collector the full amount of all unpaid ad valorem real estate
taxes and accrued interest due for years 2016 through 2019, which
are estimated to be approximately $2.14 million, in full and final
satisfaction of any and all claims, liens, and encumbrances that
Hillsborough County asserts against the Purchased Assets.
Additionally, Hillsborough County asserts liens on the Debtors'
personal property by virtue of unpaid personal property taxes due
for years 2015 through 2019.  At the Closing, the Liquidating
Trustee proposes to pay the Hillsborough County Tax Collector the
full amount of all Outstanding Personal Property Taxes and accrued
interest for years 2015 through 2019, which are estimated to be
approximately $87,000.

     (f) Satisfaction of Deferred Allowed Administrative Expenses:
Pursuant to Sec. 3.02 of the Confirmed Plan, the Deferred Allowed
Administrative Expenses (which were not paid from the Debtor's exit
financing) are secured by a lien on all of the assets of the
Debtors that is subordinate to the liens of all other Allowed
Secured Claims. At the Closing, holders of Deferred Allowed
Administrative Expenses will receive 50% of their allowed claims in
full and final satisfaction of the liens securing such claims.  In
addition, the Buyer will assume the liability to pay the balance of
such Deferred Allowed Administrative Expenses from the Buyer's
Available Cash6 subject to the subordination provisions of the
Master Trust Indenture, including but not limited to the
restrictions on use of gross revenues of the Buyer set forth in
Article III therein.  Notwithstanding the foregoing, the payment of
the Deferred Allowed Administrative Expenses will be pari passu
with the Buyer's obligation to pay (i) certain costs and expenses
of the Sale that may not otherwise be satisfied at the Closing, and
(ii) the deferred portion of the disputed administrative expense
claim of Novum Management Group, Inc.

In addition to the foregoing claims that are secured by liens on
the Debtors' assets, the following claims are not secured by liens
against the Debtors' assets but will be paid at Closing as set
forth:

     (a) At the Closing from the Sale Proceeds, the Liquidating
Trustee will pay $32,444.96 in full and final satisfaction of the
Allowed Priority Claims of US Foods pursuant to the terms of this
Court’s order allowing such claims;

     (b) At the Closing from the Sale Proceeds, the Liquidating
Trustee will pay $265,066.16 in full and final satisfaction of the
Allowed Priority Claim of the IRS, as set forth in Claim No. 6-6
filed by the IRS against Westport I; and

     (c) At the Closing from the Sale Proceeds, the Liquidating
Trustee will pay $20,996.65 in full and final satisfaction of the
Allowed Priority Claim of the Service Employees International Union
National Industry Pension Fund pursuant to the terms of this
Court's order allowing such claim.

With respect to the disputed administrative expense claim asserted
by Novum Management Group, Inc., the Liquidating Trustee proposes
to pay $22,800 at Closing from the Sale Proceeds in satisfaction of
50% of Novum's asserted administrative expense claim, with the
Buyer assuming the obligation to pay the $22,800 balance of Novum's
asserted administrative expense claim from the Buyer's Available
Cash on a pari passu basis with the Subordinated Deferred Allowed
Administrative Expense Notes and the Deferred Fees and Costs,
subject to the subordination provisions of the Master Trust
Indenture, including but not limited to the restrictions on use of
gross revenues of the Buyer set forth in Article III therein.

By the Motion, the Liquidating Trustee also asks authority to
finally assume and assign to the Buyer all of the Debtors' right,
title, and interest in and to the Assumed Contracts free and clear
of all liens, claims, and encumbrances, except that the Buyer will
be responsible for the payment of all Cure Claims, if any.  The
Buyer has agreed to assume and pay all Allowed Assumed Resident
Contract Cure Claims as set forth in the Motion to Modify.  The
only non-resident holder of an Allowed Cure Claim is Commercial
Laundries of West Florida, Inc., whose Allowed Cure Claim will be
paid by the Buyer in accordance with the Agreed Order on
Liquidating Trustee’s Supplemental Objection to Cure Claim By
Commercial Laundries of West Florida, Inc., entered on Oct. 5,
2018.

Finally, the Liquidating Trustee asks that the Court ratifies and
affirms all provisions of the Interim Sale Order that are not
inconsistent with the relief requested.

                   About Westport Holdings Tampa

Westport Holdings Tampa, d/b/a University Village, is a care
retirement community in Tampa, Florida.  It offers residents
villas, apartments, an assisted living facility and a skilled
nursing care center for their end of life needs.

Westport Holdings Tampa, Limited Partnership and Westport Holdings
Tampa II, Limited Partnership filed Chapter 11 petitions (Bankr.
M.D. Fla. Case Nos. 16-8167 and 16-8168) on Sept. 22, 2016.

Scott A. Stichter, Esq., and Stephen R. Leslie, Esq., at Stichter
Riedel Blain & Postler, P.A., serve as the Debtors' bankruptcy
counsel.  Broad and Cassel is the special counsel for healthcare
and related litigation matters.

Jeffrey Warren was appointed as examiner in the Debtors' cases.  He
is represented by Bush Ross, P.A.

The Office of the U.S. Trustee appointed an official committee of
unsecured creditors on Oct. 11, 2016, and an official committee of
resident creditors on Dec. 29, 2016.  The resident committee is
represented by Jennis Law Firm.


WOODCREST ACE HARDWARE: To Seek Approval of 100% Plan March 31
--------------------------------------------------------------
Woodcrest Ace Hardware, Inc., Wildomar Ace Hardware, Inc.,
Riverside Ace Hardware, Inc., Fingers, Inc., and P&P Hardware,
Inc., filed a First Amended Joint Plan of Reorganization.

According to the First Amended Disclosure Statement, general
unsecured creditors are to receive a distribution of 100% of their
allowed claims.

The hearing where the Court will determine whether or not to
confirm the Plan will take place on March 31, 2020 at 2:00 p.m. in
courtroom 303, in the Federal Courthouse located at 3420 Twelfth
Street in Riverside, California.  The deadline for objections to
the confirmation of the Plan will be on March 13, 2020.

Under the Plan, general unsecured creditors in Class 8 will be paid
100% of their claims within 96 months following the Effective Date,
with interest accruing at the federal judgement rate on the unpaid
balance starting from the Petition Date.

The Class 3 California Bank & Trust claim, which is the disputed
claim of Zions Bancorporation, if allowed a claim resulting from
the outcome of the litigation, it will be paid 100% of the allowed
claim within 84 months following the Effective Date, through
monthly payments, until paid in full, with interest accruing on the
claim at the fixed rate of 4.0% per annum, starting from the
Petition Date.

A full-text copy of the First Amended Disclosure Statement dated
Jan. 13, 2020, is available at https://tinyurl.com/tk6pztf from
PacerMonitor.com at no charge.

Attorney for Debtors:

     Robert B. Rosenstein
     J. Luke Hendrix
     ROSENSTEIN & ASSOCIATES
     28600 Mercedes Street, Suite 100
     Temecula, California 92590
     Telephone: (951) 296-3888
     Facsimile: (951) 296-3889
     E-mail: robert@thetemeculalawfirm.com
             luke@thetemeculalawfirm.com

                About Woodcrest Ace Hardware
  
Riverside Ace Hardware Inc. and Widomar Ace Hardware, Inc., are in
the business of selling hardware and related home improvement items
through their Ace Hardware Stores located in Riverside and Widomar,
California.  Woodcrest Ace Hardware Inc. is in the business of
serving GSA accounts, servicing national and local government
agencies.  9 Fingers, Inc., is in the business of uniform sales and
alternations, including sale of tactical apparel to customers such
as police and fire departments.  P&P Hardware, Inc., is the holding
company for the operating entities.

Based in Riverside, California, Woodcrest Ace Hardware Inc. and its
affiliates sought Chapter 11 protection (Bankr. C.D. Cal. Lead Case
No. 19-13127) on April 12, 2019.  In the petition signed by Paul
Douglas Shanabarger, president, the Debtor was estimated to have $1
million in both assets and liabilities.  Rosenstein & Associates,
led by Robert B. Rosenstein, is the Debtors' counsel.


[^] Large Companies with Insolvent Balance Sheet
------------------------------------------------

                                              Total
                                             Share-       Total
                                   Total   Holders'     Working
                                  Assets     Equity     Capital
  Company         Ticker            ($MM)      ($MM)       ($MM)
  -------         ------          ------   --------     -------
ABBVIE INC        ABBV US       59,441.0   (8,226.0)    2,673.0
ABBVIE INC        4AB TE        59,441.0   (8,226.0)    2,673.0
ABBVIE INC        ABBV AV       59,441.0   (8,226.0)    2,673.0
ABBVIE INC        4AB GZ        59,441.0   (8,226.0)    2,673.0
ABBVIE INC        4AB TH        59,441.0   (8,226.0)    2,673.0
ABBVIE INC        4AB GR        59,441.0   (8,226.0)    2,673.0
ABBVIE INC        ABBV SW       59,441.0   (8,226.0)    2,673.0
ABBVIE INC        ABBV* MM      59,441.0   (8,226.0)    2,673.0
ABBVIE INC        4AB QT        59,441.0   (8,226.0)    2,673.0
ABBVIE INC        ABBVUSD EU    59,441.0   (8,226.0)    2,673.0
ABBVIE INC        ABBVEUR EU    59,441.0   (8,226.0)    2,673.0
ABBVIE INC-BDR    ABBV34 BZ     59,441.0   (8,226.0)    2,673.0
ABSOLUTE SOFTWRE  ALSWF US         106.3      (48.4)      (27.6)
ABSOLUTE SOFTWRE  ABT CN           106.3      (48.4)      (27.6)
ABSOLUTE SOFTWRE  OU1 GR           106.3      (48.4)      (27.6)
ABSOLUTE SOFTWRE  ABT2EUR EU       106.3      (48.4)      (27.6)
ADVANZ PHARMA CO  ADVZ CN        1,593.8      (11.0)      246.2
ADVANZ PHARMA CO  3ZJ GR         1,593.8      (11.0)      246.2
ADVANZ PHARMA CO  CXREUR EU      1,593.8      (11.0)      246.2
ADVANZ PHARMA CO  CXRXF US       1,593.8      (11.0)      246.2
AGENUS INC        AGENUSD EU       174.8     (178.0)      (25.8)
AGENUS INC        AJ81 GZ          174.8     (178.0)      (25.8)
AGENUS INC        AGEN US          174.8     (178.0)      (25.8)
AGENUS INC        AJ81 GR          174.8     (178.0)      (25.8)
AGENUS INC        AJ81 TH          174.8     (178.0)      (25.8)
AGENUS INC        AGENEUR EU       174.8     (178.0)      (25.8)
AGENUS INC        AJ81 QT          174.8     (178.0)      (25.8)
AGILITI INC       AGLY US          745.0      (67.7)       17.3
AMER RESTAUR-LP   ICTPU US          33.5       (4.0)       (6.2)
AMERICAN AIR-BDR  AALL34 BZ     59,995.0     (118.0)  (10,105.0)
AMERICAN AIRLINE  AAL TE        59,995.0     (118.0)  (10,105.0)
AMERICAN AIRLINE  A1G SW        59,995.0     (118.0)  (10,105.0)
AMERICAN AIRLINE  A1G GZ        59,995.0     (118.0)  (10,105.0)
AMERICAN AIRLINE  AAL11EUR EU   59,995.0     (118.0)  (10,105.0)
AMERICAN AIRLINE  AAL AV        59,995.0     (118.0)  (10,105.0)
AMERICAN AIRLINE  A1G QT        59,995.0     (118.0)  (10,105.0)
AMERICAN AIRLINE  AAL US        59,995.0     (118.0)  (10,105.0)
AMERICAN AIRLINE  A1G GR        59,995.0     (118.0)  (10,105.0)
AMERICAN AIRLINE  AAL* MM       59,995.0     (118.0)  (10,105.0)
AMERICAN AIRLINE  AAL1USD EU    59,995.0     (118.0)  (10,105.0)
AMERICAN AIRLINE  A1G TH        59,995.0     (118.0)  (10,105.0)
AMYRIS INC        AMRSUSD EU       128.1     (208.1)     (103.8)
APPLIED DNA SCIE  APDNEUR EU         3.6       (0.8)       (0.1)
AUTODESK INC      AUD GR         5,036.6     (171.5)   (1,133.4)
AUTODESK INC      ADSK US        5,036.6     (171.5)   (1,133.4)
AUTODESK INC      AUD TH         5,036.6     (171.5)   (1,133.4)
AUTODESK INC      ADSKEUR EU     5,036.6     (171.5)   (1,133.4)
AUTODESK INC      ADSKUSD EU     5,036.6     (171.5)   (1,133.4)
AUTODESK INC      ADSK TE        5,036.6     (171.5)   (1,133.4)
AUTODESK INC      AUD GZ         5,036.6     (171.5)   (1,133.4)
AUTODESK INC      ADSK AV        5,036.6     (171.5)   (1,133.4)
AUTODESK INC      ADSK* MM       5,036.6     (171.5)   (1,133.4)
AUTODESK INC      AUD QT         5,036.6     (171.5)   (1,133.4)
AUTOZONE INC      AZ5 TH        12,700.5   (1,776.1)     (711.3)
AUTOZONE INC      AZ5 GR        12,700.5   (1,776.1)     (711.3)
AUTOZONE INC      AZOUSD EU     12,700.5   (1,776.1)     (711.3)
AUTOZONE INC      AZO US        12,700.5   (1,776.1)     (711.3)
AUTOZONE INC      AZ5 GZ        12,700.5   (1,776.1)     (711.3)
AUTOZONE INC      AZO AV        12,700.5   (1,776.1)     (711.3)
AUTOZONE INC      AZ5 TE        12,700.5   (1,776.1)     (711.3)
AUTOZONE INC      AZO* MM       12,700.5   (1,776.1)     (711.3)
AUTOZONE INC      AZOEUR EU     12,700.5   (1,776.1)     (711.3)
AUTOZONE INC      AZ5 QT        12,700.5   (1,776.1)     (711.3)
AVID TECHNOLOGY   AVD GR           266.2     (172.9)      (17.8)
AVID TECHNOLOGY   AVID US          266.2     (172.9)      (17.8)
AYR STRATEGIES I  AYR/A CN         472.9      224.2         5.2
BABCOCK & WILCOX  BW US            672.6     (290.1)     (160.6)
BENEFITFOCUS INC  BNFTEUR EU       328.1      (27.1)      107.3
BENEFITFOCUS INC  BNFT US          328.1      (27.1)      107.3
BENEFITFOCUS INC  BTF GR           328.1      (27.1)      107.3
BEYONDSPRING INC  BYSI US           34.1       22.3        21.9
BIOCRYST PHARM    BCRXUSD EU        90.5      (41.3)       (3.4)
BIOCRYST PHARM    BCRX* MM          90.5      (41.3)       (3.4)
BJ'S WHOLESALE C  BJ US          5,478.1     (104.5)     (509.4)
BJ'S WHOLESALE C  8BJ GR         5,478.1     (104.5)     (509.4)
BJ'S WHOLESALE C  8BJ QT         5,478.1     (104.5)     (509.4)
BLOOM ENERGY C-A  1ZB TH         1,169.9      (11.1)      196.6
BLOOM ENERGY C-A  BE US          1,169.9      (11.1)      196.6
BLOOM ENERGY C-A  1ZB GR         1,169.9      (11.1)      196.6
BLOOM ENERGY C-A  BE1EUR EU      1,169.9      (11.1)      196.6
BLOOM ENERGY C-A  BE1USD EU      1,169.9      (11.1)      196.6
BLOOM ENERGY C-A  1ZB QT         1,169.9      (11.1)      196.6
BLUE BIRD CORP    BLBD US          365.4      (67.8)        2.4
BOEING CO-BDR     BOEI34 BZ    133,625.0   (8,300.0)    4,917.0
BOEING CO-CED     BA AR        133,625.0   (8,300.0)    4,917.0
BOEING CO-CED     BAD AR       133,625.0   (8,300.0)    4,917.0
BOEING CO/THE     BA TE        133,625.0   (8,300.0)    4,917.0
BOEING CO/THE     BCO GR       133,625.0   (8,300.0)    4,917.0
BOEING CO/THE     BAEUR EU     133,625.0   (8,300.0)    4,917.0
BOEING CO/THE     BA EU        133,625.0   (8,300.0)    4,917.0
BOEING CO/THE     BOE LN       133,625.0   (8,300.0)    4,917.0
BOEING CO/THE     BCO TH       133,625.0   (8,300.0)    4,917.0
BOEING CO/THE     BOEI BB      133,625.0   (8,300.0)    4,917.0
BOEING CO/THE     BA US        133,625.0   (8,300.0)    4,917.0
BOEING CO/THE     BA SW        133,625.0   (8,300.0)    4,917.0
BOEING CO/THE     BA* MM       133,625.0   (8,300.0)    4,917.0
BOEING CO/THE     BAUSD SW     133,625.0   (8,300.0)    4,917.0
BOEING CO/THE     BCO GZ       133,625.0   (8,300.0)    4,917.0
BOEING CO/THE     BA AV        133,625.0   (8,300.0)    4,917.0
BOEING CO/THE     BA CI        133,625.0   (8,300.0)    4,917.0
BOEING CO/THE     BCO QT       133,625.0   (8,300.0)    4,917.0
BOMBARDIER INC-B  BBDBN MM      26,363.0   (4,680.0)     (225.0)
BRINKER INTL      EAT US         2,503.7     (568.9)     (328.1)
BRINKER INTL      BKJ GR         2,503.7     (568.9)     (328.1)
BRINKER INTL      EAT2EUR EU     2,503.7     (568.9)     (328.1)
BRINKER INTL      BKJ QT         2,503.7     (568.9)     (328.1)
BRP INC/CA-SUB V  B15A GZ        3,804.7     (558.4)     (140.4)
BRP INC/CA-SUB V  DOOEUR EU      3,804.7     (558.4)     (140.4)
BRP INC/CA-SUB V  DOO CN         3,804.7     (558.4)     (140.4)
BRP INC/CA-SUB V  B15A GR        3,804.7     (558.4)     (140.4)
BRP INC/CA-SUB V  DOOO US        3,804.7     (558.4)     (140.4)
CADIZ INC         CDZI US           73.5      (86.6)       13.3
CADIZ INC         CDZIEUR EU        73.5      (86.6)       13.3
CADIZ INC         2ZC GR            73.5      (86.6)       13.3
CAMPING WORLD-A   CWHUSD EU      3,441.0      (65.6)      470.8
CAMPING WORLD-A   CWHEUR EU      3,441.0      (65.6)      470.8
CAMPING WORLD-A   C83 GR         3,441.0      (65.6)      470.8
CAMPING WORLD-A   CWH US         3,441.0      (65.6)      470.8
CAMPING WORLD-A   C83 TH         3,441.0      (65.6)      470.8
CAMPING WORLD-A   C83 QT         3,441.0      (65.6)      470.8
CASTLE BIOSCIENC  CSTL US          113.2       82.3       100.6
CATASYS INC       CATS US           24.5      (17.7)       11.5
CATASYS INC       HY1N GR           24.5      (17.7)       11.5
CATASYS INC       CATSEUR EU        24.5      (17.7)       11.5
CATASYS INC       HY1N GZ           24.5      (17.7)       11.5
CDK GLOBAL INC    C2G QT         3,058.9     (671.6)      196.9
CDK GLOBAL INC    CDKUSD EU      3,058.9     (671.6)      196.9
CDK GLOBAL INC    CDK* MM        3,058.9     (671.6)      196.9
CDK GLOBAL INC    CDKEUR EU      3,058.9     (671.6)      196.9
CDK GLOBAL INC    C2G TH         3,058.9     (671.6)      196.9
CDK GLOBAL INC    C2G GR         3,058.9     (671.6)      196.9
CDK GLOBAL INC    CDK US         3,058.9     (671.6)      196.9
CHEWY INC- CL A   CHWY US          858.7     (389.5)     (445.2)
CHOICE HOTELS     CZH GR         1,374.3      (56.7)      (56.0)
CHOICE HOTELS     CHH US         1,374.3      (56.7)      (56.0)
CINCINNATI BELL   CBBEUR EU      2,619.0     (127.6)     (114.7)
CINCINNATI BELL   CBB US         2,619.0     (127.6)     (114.7)
CINCINNATI BELL   CIB1 GR        2,619.0     (127.6)     (114.7)
CLOVIS ONCOLOGY   C6O GR           716.9      (87.5)      307.1
CLOVIS ONCOLOGY   CLVS US          716.9      (87.5)      307.1
CLOVIS ONCOLOGY   CLVSUSD EU       716.9      (87.5)      307.1
CLOVIS ONCOLOGY   C6O QT           716.9      (87.5)      307.1
CLOVIS ONCOLOGY   C6O TH           716.9      (87.5)      307.1
CLOVIS ONCOLOGY   CLVSEUR EU       716.9      (87.5)      307.1
COGENT COMMUNICA  CCOI US          932.3     (190.5)      388.1
COGENT COMMUNICA  OGM1 GR          932.3     (190.5)      388.1
COGENT COMMUNICA  CCOIEUR EU       932.3     (190.5)      388.1
COMMUNITY HEALTH  CG5 GR        15,895.0   (1,267.0)    1,027.0
COMMUNITY HEALTH  CG5 TH        15,895.0   (1,267.0)    1,027.0
COMMUNITY HEALTH  CG5 QT        15,895.0   (1,267.0)    1,027.0
COMMUNITY HEALTH  CYH1EUR EU    15,895.0   (1,267.0)    1,027.0
COMMUNITY HEALTH  CYH US        15,895.0   (1,267.0)    1,027.0
CYTOKINETICS INC  CYTK US          187.4      (19.9)      155.0
CYTOKINETICS INC  KK3A GR          187.4      (19.9)      155.0
CYTOKINETICS INC  KK3A TH          187.4      (19.9)      155.0
CYTOKINETICS INC  CYTKUSD EU       187.4      (19.9)      155.0
CYTOKINETICS INC  KK3A QT          187.4      (19.9)      155.0
CYTOKINETICS INC  CYTKEUR EU       187.4      (19.9)      155.0
DELEK LOGISTICS   DKL US           767.8     (142.5)        4.4
DELEK LOGISTICS   D6L GR           767.8     (142.5)        4.4
DENNY'S CORP      DENN US          441.4     (118.7)      (48.8)
DENNY'S CORP      DENNEUR EU       441.4     (118.7)      (48.8)
DENNY'S CORP      DE8 GR           441.4     (118.7)      (48.8)
DIEBOLD NIXDORF   DBD SW         3,889.1     (425.2)      324.3
DIEBOLD NIXDORF   DBDEUR EU      3,889.1     (425.2)      324.3
DIEBOLD NIXDORF   DBDUSD EU      3,889.1     (425.2)      324.3
DIEBOLD NIXDORF   DBD GR         3,889.1     (425.2)      324.3
DIEBOLD NIXDORF   DBD US         3,889.1     (425.2)      324.3
DIEBOLD NIXDORF   DLD TH         3,889.1     (425.2)      324.3
DIEBOLD NIXDORF   DLD QT         3,889.1     (425.2)      324.3
DINE BRANDS GLOB  DIN US         1,997.5     (239.8)      (14.7)
DINE BRANDS GLOB  IHP GR         1,997.5     (239.8)      (14.7)
DOCEBO INC        DCBO CN           20.3      (18.6)      (12.9)
DOLLARAMA INC     DOL CN         3,696.2     (112.7)      (28.1)
DOLLARAMA INC     DR3 GR         3,696.2     (112.7)      (28.1)
DOLLARAMA INC     DLMAF US       3,696.2     (112.7)      (28.1)
DOLLARAMA INC     DR3 TH         3,696.2     (112.7)      (28.1)
DOLLARAMA INC     DR3 QT         3,696.2     (112.7)      (28.1)
DOLLARAMA INC     DOLEUR EU      3,696.2     (112.7)      (28.1)
DOLLARAMA INC     DR3 GZ         3,696.2     (112.7)      (28.1)
DOMINO'S PIZZA    EZV TH         1,160.3   (2,935.6)      184.1
DOMINO'S PIZZA    DPZEUR EU      1,160.3   (2,935.6)      184.1
DOMINO'S PIZZA    DPZUSD EU      1,160.3   (2,935.6)      184.1
DOMINO'S PIZZA    EZV GZ         1,160.3   (2,935.6)      184.1
DOMINO'S PIZZA    EZV GR         1,160.3   (2,935.6)      184.1
DOMINO'S PIZZA    DPZ US         1,160.3   (2,935.6)      184.1
DOMINO'S PIZZA    DPZ AV         1,160.3   (2,935.6)      184.1
DOMINO'S PIZZA    DPZ* MM        1,160.3   (2,935.6)      184.1
DOMINO'S PIZZA    EZV QT         1,160.3   (2,935.6)      184.1
DOMO INC- CL B    DOMO US          217.9      (25.2)       38.6
DOMO INC- CL B    1ON GR           217.9      (25.2)       38.6
DOMO INC- CL B    DOMOEUR EU       217.9      (25.2)       38.6
DOMO INC- CL B    1ON GZ           217.9      (25.2)       38.6
DOMO INC- CL B    DOMOUSD EU       217.9      (25.2)       38.6
DOMO INC- CL B    1ON TH           217.9      (25.2)       38.6
DUNKIN' BRANDS G  DNKN US        3,802.2     (620.9)      306.5
DUNKIN' BRANDS G  2DB TH         3,802.2     (620.9)      306.5
DUNKIN' BRANDS G  2DB GZ         3,802.2     (620.9)      306.5
DUNKIN' BRANDS G  DNKNEUR EU     3,802.2     (620.9)      306.5
DUNKIN' BRANDS G  2DB QT         3,802.2     (620.9)      306.5
DUNKIN' BRANDS G  2DB GR         3,802.2     (620.9)      306.5
EMISPHERE TECH    EMIS US            5.2     (155.3)       (1.4)
EVERI HOLDINGS I  G2C TH         1,567.6      (72.0)       10.3
EVERI HOLDINGS I  G2C GR         1,567.6      (72.0)       10.3
EVERI HOLDINGS I  EVRIUSD EU     1,567.6      (72.0)       10.3
EVERI HOLDINGS I  EVRIEUR EU     1,567.6      (72.0)       10.3
EVERI HOLDINGS I  EVRI US        1,567.6      (72.0)       10.3
FRONTDOOR IN      FTDR US        1,217.0     (218.0)      116.0
FRONTDOOR IN      FTDREUR EU     1,217.0     (218.0)      116.0
FRONTDOOR IN      3I5 GR         1,217.0     (218.0)      116.0
GOGO INC          GOGO US        1,280.4     (382.8)      195.1
GOGO INC          G0G TH         1,280.4     (382.8)      195.1
GOGO INC          GOGOUSD EU     1,280.4     (382.8)      195.1
GOGO INC          GOGOEUR EU     1,280.4     (382.8)      195.1
GOGO INC          G0G QT         1,280.4     (382.8)      195.1
GOGO INC          G0G GR         1,280.4     (382.8)      195.1
GOOSEHEAD INSU-A  GSHD US           44.4      (27.9)        7.6
GOOSEHEAD INSU-A  2OX GR            44.4      (27.9)        7.6
GOOSEHEAD INSU-A  GSHDEUR EU        44.4      (27.9)        7.6
GRAFTECH INTERNA  EAF US         1,825.7     (606.9)      724.6
GRAFTECH INTERNA  G6G TH         1,825.7     (606.9)      724.6
GRAFTECH INTERNA  G6G GR         1,825.7     (606.9)      724.6
GRAFTECH INTERNA  EAFEUR EU      1,825.7     (606.9)      724.6
GRAFTECH INTERNA  G6G QT         1,825.7     (606.9)      724.6
GRAFTECH INTERNA  EAFUSD EU      1,825.7     (606.9)      724.6
GRAFTECH INTERNA  G6G GZ         1,825.7     (606.9)      724.6
GREEN PLAINS PAR  8GP GR           119.8      (74.9)     (137.8)
GREEN PLAINS PAR  GPP US           119.8      (74.9)     (137.8)
GREENSKY INC-A    GSKY US          897.1      (66.5)      268.8
H&R BLOCK INC     HRB TH         2,756.7      (75.7)     (662.5)
H&R BLOCK INC     HRB US         2,756.7      (75.7)     (662.5)
H&R BLOCK INC     HRB GR         2,756.7      (75.7)     (662.5)
H&R BLOCK INC     HRB QT         2,756.7      (75.7)     (662.5)
H&R BLOCK INC     HRBEUR EU      2,756.7      (75.7)     (662.5)
HANGER INC        HNGR US          801.4      (14.2)       95.2
HANGER INC        HO8 GR           801.4      (14.2)       95.2
HANGER INC        HNGREUR EU       801.4      (14.2)       95.2
HCA HEALTHCARE I  2BH GR        45,058.0     (565.0)    3,439.0
HCA HEALTHCARE I  2BH TH        45,058.0     (565.0)    3,439.0
HCA HEALTHCARE I  HCA US        45,058.0     (565.0)    3,439.0
HCA HEALTHCARE I  HCA* MM       45,058.0     (565.0)    3,439.0
HCA HEALTHCARE I  HCAUSD EU     45,058.0     (565.0)    3,439.0
HCA HEALTHCARE I  HCAEUR EU     45,058.0     (565.0)    3,439.0
HCA HEALTHCARE I  2BH TE        45,058.0     (565.0)    3,439.0
HERBALIFE NUTRIT  HOO GR         2,545.6     (467.5)      468.7
HERBALIFE NUTRIT  HLF US         2,545.6     (467.5)      468.7
HERBALIFE NUTRIT  HLFUSD EU      2,545.6     (467.5)      468.7
HERBALIFE NUTRIT  HOO GZ         2,545.6     (467.5)      468.7
HERBALIFE NUTRIT  HLFEUR EU      2,545.6     (467.5)      468.7
HERBALIFE NUTRIT  HOO QT         2,545.6     (467.5)      468.7
HEWLETT-CEDEAR    HPQ AR        33,467.0   (1,193.0)   (5,116.0)
HEWLETT-CEDEAR    HPQC AR       33,467.0   (1,193.0)   (5,116.0)
HILTON WORLDWIDE  HLTEUR EU     15,067.0     (199.0)     (645.0)
HILTON WORLDWIDE  HLT* MM       15,067.0     (199.0)     (645.0)
HILTON WORLDWIDE  HLTW AV       15,067.0     (199.0)     (645.0)
HILTON WORLDWIDE  HI91 TE       15,067.0     (199.0)     (645.0)
HILTON WORLDWIDE  HI91 GR       15,067.0     (199.0)     (645.0)
HILTON WORLDWIDE  HI91 TH       15,067.0     (199.0)     (645.0)
HILTON WORLDWIDE  HLTUSD EU     15,067.0     (199.0)     (645.0)
HILTON WORLDWIDE  HLT US        15,067.0     (199.0)     (645.0)
HOME DEPOT - BDR  HOME34 BZ     52,309.0   (1,082.0)    1,609.0
HOME DEPOT INC    HD TE         52,309.0   (1,082.0)    1,609.0
HOME DEPOT INC    HDI TH        52,309.0   (1,082.0)    1,609.0
HOME DEPOT INC    HDI GR        52,309.0   (1,082.0)    1,609.0
HOME DEPOT INC    HD US         52,309.0   (1,082.0)    1,609.0
HOME DEPOT INC    HD* MM        52,309.0   (1,082.0)    1,609.0
HOME DEPOT INC    HDUSD SW      52,309.0   (1,082.0)    1,609.0
HOME DEPOT INC    HDI GZ        52,309.0   (1,082.0)    1,609.0
HOME DEPOT INC    HD AV         52,309.0   (1,082.0)    1,609.0
HOME DEPOT INC    0R1G LN       52,309.0   (1,082.0)    1,609.0
HOME DEPOT INC    HD CI         52,309.0   (1,082.0)    1,609.0
HOME DEPOT INC    HDEUR EU      52,309.0   (1,082.0)    1,609.0
HOME DEPOT INC    HDI QT        52,309.0   (1,082.0)    1,609.0
HOME DEPOT INC    HDUSD EU      52,309.0   (1,082.0)    1,609.0
HOME DEPOT INC    HD SW         52,309.0   (1,082.0)    1,609.0
HOME DEPOT-CED    HDD AR        52,309.0   (1,082.0)    1,609.0
HOME DEPOT-CED    HD AR         52,309.0   (1,082.0)    1,609.0
HOME DEPOT-CED    HDC AR        52,309.0   (1,082.0)    1,609.0
HOVNANIAN ENT-A   HOV US         1,881.4     (489.8)      786.3
HP COMPANY-BDR    HPQB34 BZ     33,467.0   (1,193.0)   (5,116.0)
HP INC            HPQ US        33,467.0   (1,193.0)   (5,116.0)
HP INC            7HP TH        33,467.0   (1,193.0)   (5,116.0)
HP INC            7HP GR        33,467.0   (1,193.0)   (5,116.0)
HP INC            HPQ TE        33,467.0   (1,193.0)   (5,116.0)
HP INC            0J2E LI       33,467.0   (1,193.0)   (5,116.0)
HP INC            HPQUSD SW     33,467.0   (1,193.0)   (5,116.0)
HP INC            HPQEUR EU     33,467.0   (1,193.0)   (5,116.0)
HP INC            7HP GZ        33,467.0   (1,193.0)   (5,116.0)
HP INC            HPQ* MM       33,467.0   (1,193.0)   (5,116.0)
HP INC            HPQ CI        33,467.0   (1,193.0)   (5,116.0)
HP INC            HWP QT        33,467.0   (1,193.0)   (5,116.0)
HP INC            HPQUSD EU     33,467.0   (1,193.0)   (5,116.0)
HP INC            HPQ SW        33,467.0   (1,193.0)   (5,116.0)
HP INC            HPQ AV        33,467.0   (1,193.0)   (5,116.0)
IAA INC           IAA US         2,079.9     (186.9)      181.7
IAA INC           3NI GR         2,079.9     (186.9)      181.7
IAA INC           IAA-WEUR EU    2,079.9     (186.9)      181.7
IGM BIOSCIENCES   IGMS US          269.9      254.6       241.7
IGM BIOSCIENCES   1K0 GR           269.9      254.6       241.7
IGM BIOSCIENCES   1K0 GZ           269.9      254.6       241.7
IGM BIOSCIENCES   IGMSEUR EU       269.9      254.6       241.7
IMMUNOGEN INC     IMU GR           254.1      (86.2)      137.5
IMMUNOGEN INC     IMGN US          254.1      (86.2)      137.5
IMMUNOGEN INC     IMU TH           254.1      (86.2)      137.5
IMMUNOGEN INC     IMGNUSD EU       254.1      (86.2)      137.5
IMMUNOGEN INC     IMU SW           254.1      (86.2)      137.5
IMMUNOGEN INC     IMU GZ           254.1      (86.2)      137.5
IMMUNOGEN INC     IMGNEUR EU       254.1      (86.2)      137.5
IMMUNOGEN INC     IMU QT           254.1      (86.2)      137.5
IMMUNOGEN INC     IMGN* MM         254.1      (86.2)      137.5
INSEEGO CORP      INO QT           158.7      (38.3)     (119.3)
INSEEGO CORP      INO TH           158.7      (38.3)     (119.3)
INSEEGO CORP      INSG US          158.7      (38.3)     (119.3)
INSEEGO CORP      INSGEUR EU       158.7      (38.3)     (119.3)
INSEEGO CORP      INO GR           158.7      (38.3)     (119.3)
INSEEGO CORP      INO GZ           158.7      (38.3)     (119.3)
IRONWOOD PHARMAC  IRWD US          334.3     (153.0)      204.8
IRONWOOD PHARMAC  I76 GR           334.3     (153.0)      204.8
IRONWOOD PHARMAC  I76 TH           334.3     (153.0)      204.8
IRONWOOD PHARMAC  I76 QT           334.3     (153.0)      204.8
IRONWOOD PHARMAC  IRWDEUR EU       334.3     (153.0)      204.8
JACK IN THE BOX   JACK US          958.5     (737.6)       69.2
JACK IN THE BOX   JBX GZ           958.5     (737.6)       69.2
JACK IN THE BOX   JBX QT           958.5     (737.6)       69.2
JACK IN THE BOX   JBX GR           958.5     (737.6)       69.2
JACK IN THE BOX   JACK1EUR EU      958.5     (737.6)       69.2
JOSEMARIA RESOUR  JOSES I2          18.6       (6.1)       (5.6)
JOSEMARIA RESOUR  JOSE SS           18.6       (6.1)       (5.6)
JOSEMARIA RESOUR  NGQSEK EU         18.6       (6.1)       (5.6)
JOSEMARIA RESOUR  JOSES IX          18.6       (6.1)       (5.6)
JOSEMARIA RESOUR  JOSES EB          18.6       (6.1)       (5.6)
L BRANDS INC      LTD TH        10,630.0   (1,238.0)      383.0
L BRANDS INC      LTD GR        10,630.0   (1,238.0)      383.0
L BRANDS INC      LB US         10,630.0   (1,238.0)      383.0
L BRANDS INC      LBUSD EU      10,630.0   (1,238.0)      383.0
L BRANDS INC      LBRA AV       10,630.0   (1,238.0)      383.0
L BRANDS INC      LBEUR EU      10,630.0   (1,238.0)      383.0
L BRANDS INC      LB* MM        10,630.0   (1,238.0)      383.0
L BRANDS INC      LTD QT        10,630.0   (1,238.0)      383.0
LA JOLLA PHARM    LJPC US          149.1      (35.2)       90.4
LA JOLLA PHARM    LJPP TH          149.1      (35.2)       90.4
LA JOLLA PHARM    LJPP QT          149.1      (35.2)       90.4
LA JOLLA PHARM    LJPP GR          149.1      (35.2)       90.4
LENNOX INTL INC   LXI GR         2,214.8     (277.3)      207.4
LENNOX INTL INC   LII US         2,214.8     (277.3)      207.4
LENNOX INTL INC   LXI TH         2,214.8     (277.3)      207.4
LENNOX INTL INC   LII1USD EU     2,214.8     (277.3)      207.4
LENNOX INTL INC   LII* MM        2,214.8     (277.3)      207.4
LENNOX INTL INC   LII1EUR EU     2,214.8     (277.3)      207.4
MCDONALDS - BDR   MCDC34 BZ     47,510.8   (8,210.3)      (63.1)
MCDONALDS CORP    MCD TE        47,510.8   (8,210.3)      (63.1)
MCDONALDS CORP    MCD US        47,510.8   (8,210.3)      (63.1)
MCDONALDS CORP    MCD SW        47,510.8   (8,210.3)      (63.1)
MCDONALDS CORP    MDO GR        47,510.8   (8,210.3)      (63.1)
MCDONALDS CORP    MCD* MM       47,510.8   (8,210.3)      (63.1)
MCDONALDS CORP    MCDUSD SW     47,510.8   (8,210.3)      (63.1)
MCDONALDS CORP    MCDEUR EU     47,510.8   (8,210.3)      (63.1)
MCDONALDS CORP    MDO GZ        47,510.8   (8,210.3)      (63.1)
MCDONALDS CORP    MCD AV        47,510.8   (8,210.3)      (63.1)
MCDONALDS CORP    0R16 LN       47,510.8   (8,210.3)      (63.1)
MCDONALDS CORP    MDO TH        47,510.8   (8,210.3)      (63.1)
MCDONALDS CORP    MCD CI        47,510.8   (8,210.3)      (63.1)
MCDONALDS CORP    MDO QT        47,510.8   (8,210.3)      (63.1)
MCDONALDS CORP    MCDUSD EU     47,510.8   (8,210.3)      (63.1)
MCDONALDS-CEDEAR  MCDC AR       47,510.8   (8,210.3)      (63.1)
MCDONALDS-CEDEAR  MCD AR        47,510.8   (8,210.3)      (63.1)
MCDONALDS-CEDEAR  MCDD AR       47,510.8   (8,210.3)      (63.1)
MERCER PARK BR-A  MRCQF US         408.6       (2.8)        4.1
MERCER PARK BR-A  BRND/A/U CN      408.6       (2.8)        4.1
MICHAELS COS INC  MIKEUR EU      3,845.1   (1,631.8)      259.2
MICHAELS COS INC  MIK US         3,845.1   (1,631.8)      259.2
MICHAELS COS INC  MIM GR         3,845.1   (1,631.8)      259.2
MILESTONE MEDICA  MMD PW             1.3      (12.4)      (13.3)
MILESTONE MEDICA  MMDPLN EU          1.3      (12.4)      (13.3)
MOTOROLA SOL-CED  MSI AR        10,373.0   (1,084.0)      498.0
MOTOROLA SOLUTIO  MTLA TH       10,373.0   (1,084.0)      498.0
MOTOROLA SOLUTIO  MTLA GR       10,373.0   (1,084.0)      498.0
MOTOROLA SOLUTIO  MOT TE        10,373.0   (1,084.0)      498.0
MOTOROLA SOLUTIO  MSI US        10,373.0   (1,084.0)      498.0
MOTOROLA SOLUTIO  MSI1USD EU    10,373.0   (1,084.0)      498.0
MOTOROLA SOLUTIO  MSI1EUR EU    10,373.0   (1,084.0)      498.0
MOTOROLA SOLUTIO  MTLA GZ       10,373.0   (1,084.0)      498.0
MOTOROLA SOLUTIO  MOSI AV       10,373.0   (1,084.0)      498.0
MOTOROLA SOLUTIO  MTLA QT       10,373.0   (1,084.0)      498.0
MSCI INC          3HM GR         3,479.7     (147.9)      641.6
MSCI INC          MSCI US        3,479.7     (147.9)      641.6
MSCI INC          3HM SW         3,479.7     (147.9)      641.6
MSCI INC          3HM QT         3,479.7     (147.9)      641.6
MSCI INC          MSCI* MM       3,479.7     (147.9)      641.6
MSG NETWORKS- A   MSGN US        1,001.9     (667.2)      176.5
MSG NETWORKS- A   1M4 GR         1,001.9     (667.2)      176.5
MSG NETWORKS- A   MSGNEUR EU     1,001.9     (667.2)      176.5
MSG NETWORKS- A   1M4 QT         1,001.9     (667.2)      176.5
MSG NETWORKS- A   1M4 TH         1,001.9     (667.2)      176.5
N/A               BJEUR EU       5,478.1     (104.5)     (509.4)
NATHANS FAMOUS    NATH US          107.1      (62.9)       78.9
NATHANS FAMOUS    NFA GR           107.1      (62.9)       78.9
NATHANS FAMOUS    NATHEUR EU       107.1      (62.9)       78.9
NATIONAL CINEMED  XWM GR         1,084.1     (122.3)       83.1
NATIONAL CINEMED  NCMI US        1,084.1     (122.3)       83.1
NATIONAL CINEMED  NCMIEUR EU     1,084.1     (122.3)       83.1
NAVISTAR INTL     IHR TH         6,917.0   (3,723.0)    1,377.0
NAVISTAR INTL     NAVEUR EU      6,917.0   (3,723.0)    1,377.0
NAVISTAR INTL     NAVUSD EU      6,917.0   (3,723.0)    1,377.0
NAVISTAR INTL     IHR GZ         6,917.0   (3,723.0)    1,377.0
NAVISTAR INTL     NAV US         6,917.0   (3,723.0)    1,377.0
NAVISTAR INTL     IHR GR         6,917.0   (3,723.0)    1,377.0
NAVISTAR INTL     IHR QT         6,917.0   (3,723.0)    1,377.0
NESCO HOLDINGS I  NSCO US          739.0      (15.8)       28.3
NEW ENG RLTY-LP   NEN US           243.7      (38.2)        -
NOTOX TECHNOLOGI  NTOX US            0.6       (1.8)       (2.2)
NOVAVAX INC       NVV1 TH          164.8     (189.8)       67.4
NOVAVAX INC       NVV1 GZ          164.8     (189.8)       67.4
NOVAVAX INC       NVAXEUR EU       164.8     (189.8)       67.4
NOVAVAX INC       NVV1 GR          164.8     (189.8)       67.4
NOVAVAX INC       NVAX US          164.8     (189.8)       67.4
NRG ENERGY        NRG US         9,527.0   (1,552.0)      623.0
NRG ENERGY        NRA GR         9,527.0   (1,552.0)      623.0
NRG ENERGY        NRA TH         9,527.0   (1,552.0)      623.0
NRG ENERGY        NRA QT         9,527.0   (1,552.0)      623.0
NRG ENERGY        NRGEUR EU      9,527.0   (1,552.0)      623.0
NUNZIA PHARMACEU  NUNZ US            0.1       (3.2)       (2.5)
OMEROS CORP       OMER US           91.3     (139.9)       17.0
OMEROS CORP       3O8 GR            91.3     (139.9)       17.0
OMEROS CORP       OMERUSD EU        91.3     (139.9)       17.0
OMEROS CORP       3O8 TH            91.3     (139.9)       17.0
OMEROS CORP       OMEREUR EU        91.3     (139.9)       17.0
OPTIVA INC        RKNEF US          87.7      (16.1)       18.5
OPTIVA INC        OPT CN            87.7      (16.1)       18.5
OPTIVA INC        RKNEUR EU         87.7      (16.1)       18.5
OPTIVA INC        RE6 GR            87.7      (16.1)       18.5
OPTIVA INC        3230510Q EU       87.7      (16.1)       18.5
PAPA JOHN'S INTL  PZZA US          730.6      (69.4)      (27.5)
PAPA JOHN'S INTL  PP1 GR           730.6      (69.4)      (27.5)
PAPA JOHN'S INTL  PZZAEUR EU       730.6      (69.4)      (27.5)
PAPA JOHN'S INTL  PP1 GZ           730.6      (69.4)      (27.5)
PHATHOM PHARMACE  PHAT US           79.7     (152.5)     (129.8)
PHILIP MORRI-BDR  PHMO34 BZ     41,420.0   (9,155.0)    1,530.0
PHILIP MORRIS IN  PM1 TE        41,420.0   (9,155.0)    1,530.0
PHILIP MORRIS IN  4I1 TH        41,420.0   (9,155.0)    1,530.0
PHILIP MORRIS IN  PM1EUR EU     41,420.0   (9,155.0)    1,530.0
PHILIP MORRIS IN  PMI SW        41,420.0   (9,155.0)    1,530.0
PHILIP MORRIS IN  PM1 EU        41,420.0   (9,155.0)    1,530.0
PHILIP MORRIS IN  4I1 GR        41,420.0   (9,155.0)    1,530.0
PHILIP MORRIS IN  PM US         41,420.0   (9,155.0)    1,530.0
PHILIP MORRIS IN  PM1CHF EU     41,420.0   (9,155.0)    1,530.0
PHILIP MORRIS IN  0M8V LN       41,420.0   (9,155.0)    1,530.0
PHILIP MORRIS IN  PMOR AV       41,420.0   (9,155.0)    1,530.0
PHILIP MORRIS IN  4I1 GZ        41,420.0   (9,155.0)    1,530.0
PHILIP MORRIS IN  PM* MM        41,420.0   (9,155.0)    1,530.0
PHILIP MORRIS IN  4I1 QT        41,420.0   (9,155.0)    1,530.0
PHILIP MORRIS IN  PMIZ IX       41,420.0   (9,155.0)    1,530.0
PHILIP MORRIS IN  PMIZ EB       41,420.0   (9,155.0)    1,530.0
PLANET FITNESS-A  PLNT1USD EU    1,420.2     (442.1)      170.3
PLANET FITNESS-A  PLNT US        1,420.2     (442.1)      170.3
PLANET FITNESS-A  3PL TH         1,420.2     (442.1)      170.3
PLANET FITNESS-A  3PL GR         1,420.2     (442.1)      170.3
PLANET FITNESS-A  3PL QT         1,420.2     (442.1)      170.3
PLANET FITNESS-A  PLNT1EUR EU    1,420.2     (442.1)      170.3
POWER SOLUTIONS   PSIX US          289.9      (18.6)       (4.6)
QUANTUM CORP      QMCO US          165.3     (195.5)      (16.1)
QUANTUM CORP      QNT2 GR          165.3     (195.5)      (16.1)
QUANTUM CORP      QTM1EUR EU       165.3     (195.5)      (16.1)
RADIUS HEALTH IN  RDUS US          227.5      (24.3)      155.6
RADIUS HEALTH IN  RDUSUSD EU       227.5      (24.3)      155.6
RADIUS HEALTH IN  1R8 TH           227.5      (24.3)      155.6
RADIUS HEALTH IN  1R8 QT           227.5      (24.3)      155.6
RADIUS HEALTH IN  RDUSEUR EU       227.5      (24.3)      155.6
RADIUS HEALTH IN  1R8 GR           227.5      (24.3)      155.6
REATA PHARMACE-A  RETAEUR EU       259.1      (67.4)      172.0
REATA PHARMACE-A  RETA US          259.1      (67.4)      172.0
REATA PHARMACE-A  2R3 GR           259.1      (67.4)      172.0
RECRO PHARMA INC  RAH GR           167.7      (19.9)       71.4
RECRO PHARMA INC  REPH US          167.7      (19.9)       71.4
REVLON INC-A      RVL1 GR        3,059.5   (1,227.5)      134.3
REVLON INC-A      REV US         3,059.5   (1,227.5)      134.3
REVLON INC-A      REVEUR EU      3,059.5   (1,227.5)      134.3
REVLON INC-A      RVL1 TH        3,059.5   (1,227.5)      134.3
RH                RH US          2,362.0      (63.2)     (344.2)
RH                RHEUR EU       2,362.0      (63.2)     (344.2)
RH                RS1 GR         2,362.0      (63.2)     (344.2)
RH                RH* MM         2,362.0      (63.2)     (344.2)
RIMINI STREET IN  RMNI US          121.3     (130.1)      (99.3)
ROSETTA STONE IN  RST US           206.9      (10.6)      (66.4)
ROSETTA STONE IN  RS8 TH           206.9      (10.6)      (66.4)
ROSETTA STONE IN  RS8 GR           206.9      (10.6)      (66.4)
ROSETTA STONE IN  RST1EUR EU       206.9      (10.6)      (66.4)
RR DONNELLEY & S  DLLN TH        3,540.5     (276.9)      523.6
SALLY BEAUTY HOL  SBH US         2,098.4      (60.3)      707.5
SALLY BEAUTY HOL  SBHEUR EU      2,098.4      (60.3)      707.5
SALLY BEAUTY HOL  S7V GR         2,098.4      (60.3)      707.5
SATSUMA PHARMACE  STSA US          127.5      118.1       120.6
SATSUMA PHARMACE  STSAEUR EU       127.5      118.1       120.6
SATSUMA PHARMACE  1LV GR           127.5      118.1       120.6
SBA COMM CORP     4SB GZ         9,201.1   (3,546.3)     (180.9)
SBA COMM CORP     4SB GR         9,201.1   (3,546.3)     (180.9)
SBA COMM CORP     SBAC US        9,201.1   (3,546.3)     (180.9)
SBA COMM CORP     SBJ TH         9,201.1   (3,546.3)     (180.9)
SBA COMM CORP     SBAC* MM       9,201.1   (3,546.3)     (180.9)
SBA COMM CORP     SBACEUR EU     9,201.1   (3,546.3)     (180.9)
SCIENTIFIC GAMES  SGMS US        7,907.0   (2,125.0)      606.0
SCIENTIFIC GAMES  TJW GR         7,907.0   (2,125.0)      606.0
SCIENTIFIC GAMES  TJW TH         7,907.0   (2,125.0)      606.0
SCIENTIFIC GAMES  TJW GZ         7,907.0   (2,125.0)      606.0
SEALED AIR CORP   SEE US         5,676.4     (304.1)       89.1
SEALED AIR CORP   SDA GR         5,676.4     (304.1)       89.1
SEALED AIR CORP   SEE1EUR EU     5,676.4     (304.1)       89.1
SEALED AIR CORP   SDA TH         5,676.4     (304.1)       89.1
SEALED AIR CORP   SDA QT         5,676.4     (304.1)       89.1
SELECTA BIOSCIEN  SELB US           39.5       (4.9)        6.6
SERES THERAPEUTI  MCRB US          124.2      (32.2)       47.3
SHELL MIDSTREAM   SHLXUSD EU     2,019.0     (757.0)      297.0
SHELL MIDSTREAM   49M GR         2,019.0     (757.0)      297.0
SHELL MIDSTREAM   49M TH         2,019.0     (757.0)      297.0
SHELL MIDSTREAM   SHLX US        2,019.0     (757.0)      297.0
SIRIUS XM HO-BDR  SRXM34 BZ     11,088.0     (748.0)   (2,315.0)
SIRIUS XM HOLDIN  RDO TH        11,088.0     (748.0)   (2,315.0)
SIRIUS XM HOLDIN  SIRI US       11,088.0     (748.0)   (2,315.0)
SIRIUS XM HOLDIN  RDO GR        11,088.0     (748.0)   (2,315.0)
SIRIUS XM HOLDIN  SIRIUSD EU    11,088.0     (748.0)   (2,315.0)
SIRIUS XM HOLDIN  SIRIEUR EU    11,088.0     (748.0)   (2,315.0)
SIRIUS XM HOLDIN  RDO GZ        11,088.0     (748.0)   (2,315.0)
SIRIUS XM HOLDIN  SIRI AV       11,088.0     (748.0)   (2,315.0)
SIRIUS XM HOLDIN  RDO QT        11,088.0     (748.0)   (2,315.0)
SIX FLAGS ENTERT  6FE GR         3,020.7      (89.8)       97.7
SIX FLAGS ENTERT  SIXEUR EU      3,020.7      (89.8)       97.7
SIX FLAGS ENTERT  SIXUSD EU      3,020.7      (89.8)       97.7
SIX FLAGS ENTERT  6FE TH         3,020.7      (89.8)       97.7
SIX FLAGS ENTERT  SIX US         3,020.7      (89.8)       97.7
SLEEP NUMBER COR  SL2 GR           802.3     (164.5)     (443.5)
SLEEP NUMBER COR  SNBR US          802.3     (164.5)     (443.5)
SLEEP NUMBER COR  SNBREUR EU       802.3     (164.5)     (443.5)
STARBUCKS CORP    SRB TH        27,731.3   (6,759.1)   (2,775.8)
STARBUCKS CORP    SBUX* MM      27,731.3   (6,759.1)   (2,775.8)
STARBUCKS CORP    SRB GR        27,731.3   (6,759.1)   (2,775.8)
STARBUCKS CORP    SBUXEUR EU    27,731.3   (6,759.1)   (2,775.8)
STARBUCKS CORP    SBUX TE       27,731.3   (6,759.1)   (2,775.8)
STARBUCKS CORP    SBUX IM       27,731.3   (6,759.1)   (2,775.8)
STARBUCKS CORP    SBUXUSD SW    27,731.3   (6,759.1)   (2,775.8)
STARBUCKS CORP    SBUXUSD EU    27,731.3   (6,759.1)   (2,775.8)
STARBUCKS CORP    SRB GZ        27,731.3   (6,759.1)   (2,775.8)
STARBUCKS CORP    SBUX AV       27,731.3   (6,759.1)   (2,775.8)
STARBUCKS CORP    0QZH LI       27,731.3   (6,759.1)   (2,775.8)
STARBUCKS CORP    SBUX CI       27,731.3   (6,759.1)   (2,775.8)
STARBUCKS CORP    SRB QT        27,731.3   (6,759.1)   (2,775.8)
STARBUCKS CORP    SBUX US       27,731.3   (6,759.1)   (2,775.8)
STARBUCKS CORP    SBUX SW       27,731.3   (6,759.1)   (2,775.8)
STARBUCKS-BDR     SBUB34 BZ     27,731.3   (6,759.1)   (2,775.8)
STARBUCKS-CEDEAR  SBUXD AR      27,731.3   (6,759.1)   (2,775.8)
STARBUCKS-CEDEAR  SBUX AR       27,731.3   (6,759.1)   (2,775.8)
SUNPOWER CORP     SPWR US        1,889.7     (160.3)      264.2
SUNPOWER CORP     S9P2 TH        1,889.7     (160.3)      264.2
SUNPOWER CORP     S9P2 GR        1,889.7     (160.3)      264.2
SUNPOWER CORP     SPWREUR EU     1,889.7     (160.3)      264.2
SUNPOWER CORP     SPWRUSD EU     1,889.7     (160.3)      264.2
SUNPOWER CORP     S9P2 GZ        1,889.7     (160.3)      264.2
SUNPOWER CORP     S9P2 QT        1,889.7     (160.3)      264.2
SUNPOWER CORP     S9P2 SW        1,889.7     (160.3)      264.2
TAILORED BRANDS   TLRDEUR EU     2,540.4      (64.5)      238.1
TAILORED BRANDS   WRM TH         2,540.4      (64.5)      238.1
TAILORED BRANDS   TLRDUSD EU     2,540.4      (64.5)      238.1
TAILORED BRANDS   WRM GZ         2,540.4      (64.5)      238.1
TAILORED BRANDS   TLRD US        2,540.4      (64.5)      238.1
TAILORED BRANDS   WRM GR         2,540.4      (64.5)      238.1
TAILORED BRANDS   TLRD* MM       2,540.4      (64.5)      238.1
TAUBMAN CENTERS   TCO US         4,536.9      (89.0)        -
TAUBMAN CENTERS   TU8 GR         4,536.9      (89.0)        -
TAUBMAN CENTERS   TCO2EUR EU     4,536.9      (89.0)        -
TELA BIO INC      TELA US           23.1      (15.0)       11.3
TG THERAPEUTICS   TGTX US           93.3      (25.8)        0.2
TG THERAPEUTICS   NKB2 TH           93.3      (25.8)        0.2
TG THERAPEUTICS   NKB2 GR           93.3      (25.8)        0.2
TRANSDIGM GROUP   TDG US        16,254.7   (2,885.1)    3,326.5
TRANSDIGM GROUP   T7D GR        16,254.7   (2,885.1)    3,326.5
TRANSDIGM GROUP   TDG* MM       16,254.7   (2,885.1)    3,326.5
TRANSDIGM GROUP   T7D TH        16,254.7   (2,885.1)    3,326.5
TRANSDIGM GROUP   TDGEUR EU     16,254.7   (2,885.1)    3,326.5
TRANSDIGM GROUP   T7D QT        16,254.7   (2,885.1)    3,326.5
TRIUMPH GROUP     TGI US         2,761.8     (590.8)      217.7
TRIUMPH GROUP     TG7 GR         2,761.8     (590.8)      217.7
TRIUMPH GROUP     TGIEUR EU      2,761.8     (590.8)      217.7
TUPPERWARE BRAND  TUP US         1,335.9     (185.0)     (116.2)
TUPPERWARE BRAND  TUP GR         1,335.9     (185.0)     (116.2)
TUPPERWARE BRAND  TUP1USD EU     1,335.9     (185.0)     (116.2)
TUPPERWARE BRAND  TUP SW         1,335.9     (185.0)     (116.2)
TUPPERWARE BRAND  TUP GZ         1,335.9     (185.0)     (116.2)
TUPPERWARE BRAND  TUP TH         1,335.9     (185.0)     (116.2)
TUPPERWARE BRAND  TUP1EUR EU     1,335.9     (185.0)     (116.2)
TUPPERWARE BRAND  TUP QT         1,335.9     (185.0)     (116.2)
UBIQUITI INC      3UB GR           750.6     (239.4)      373.5
UBIQUITI INC      UI US            750.6     (239.4)      373.5
UBIQUITI INC      3UB GZ           750.6     (239.4)      373.5
UBIQUITI INC      UBNTEUR EU       750.6     (239.4)      373.5
UNISYS CORP       UIS US         2,405.8   (1,117.4)      266.1
UNISYS CORP       UIS1 SW        2,405.8   (1,117.4)      266.1
UNISYS CORP       UISEUR EU      2,405.8   (1,117.4)      266.1
UNISYS CORP       UISCHF EU      2,405.8   (1,117.4)      266.1
UNISYS CORP       USY1 TH        2,405.8   (1,117.4)      266.1
UNISYS CORP       USY1 GR        2,405.8   (1,117.4)      266.1
UNISYS CORP       USY1 GZ        2,405.8   (1,117.4)      266.1
UNISYS CORP       USY1 QT        2,405.8   (1,117.4)      266.1
UNITI GROUP INC   CSALUSD EU     5,031.2   (1,436.8)        -
UNITI GROUP INC   8XC TH         5,031.2   (1,436.8)        -
UNITI GROUP INC   UNIT US        5,031.2   (1,436.8)        -
UNITI GROUP INC   8XC GR         5,031.2   (1,436.8)        -
VALVOLINE INC     0V4 GR         2,064.0     (258.0)      374.0
VALVOLINE INC     0V4 TH         2,064.0     (258.0)      374.0
VALVOLINE INC     VVVEUR EU      2,064.0     (258.0)      374.0
VALVOLINE INC     0V4 QT         2,064.0     (258.0)      374.0
VALVOLINE INC     VVV US         2,064.0     (258.0)      374.0
VECTOR GROUP LTD  VGR GR         1,486.7     (628.7)       27.5
VECTOR GROUP LTD  VGR US         1,486.7     (628.7)       27.5
VECTOR GROUP LTD  VGREUR EU      1,486.7     (628.7)       27.5
VECTOR GROUP LTD  VGRUSD EU      1,486.7     (628.7)       27.5
VECTOR GROUP LTD  VGR TH         1,486.7     (628.7)       27.5
VECTOR GROUP LTD  VGR QT         1,486.7     (628.7)       27.5
VENUS CONCEPT IN  VERO US           20.7      (21.8)       (8.7)
VENUS CONCEPT IN  0RR1 TH           20.7      (21.8)       (8.7)
VENUS CONCEPT IN  HAIREUR EU        20.7      (21.8)       (8.7)
VENUS CONCEPT IN  0RR1 GR           20.7      (21.8)       (8.7)
VERISIGN INC      VRS GR         1,886.7   (1,451.9)      337.3
VERISIGN INC      VRSN US        1,886.7   (1,451.9)      337.3
VERISIGN INC      VRSN* MM       1,886.7   (1,451.9)      337.3
VERISIGN INC      VRS SW         1,886.7   (1,451.9)      337.3
VERISIGN INC      VRSNEUR EU     1,886.7   (1,451.9)      337.3
VERISIGN INC      VRS GZ         1,886.7   (1,451.9)      337.3
VERISIGN INC      VRS TH         1,886.7   (1,451.9)      337.3
VERISIGN INC      VRS QT         1,886.7   (1,451.9)      337.3
VERISIGN INC-BDR  VRSN34 BZ      1,886.7   (1,451.9)      337.3
W&T OFFSHORE INC  WTI US         1,027.1     (257.8)      (27.3)
W&T OFFSHORE INC  UWV GR         1,027.1     (257.8)      (27.3)
W&T OFFSHORE INC  WTI1EUR EU     1,027.1     (257.8)      (27.3)
W&T OFFSHORE INC  WTI1USD EU     1,027.1     (257.8)      (27.3)
W&T OFFSHORE INC  UWV SW         1,027.1     (257.8)      (27.3)
W&T OFFSHORE INC  UWV TH         1,027.1     (257.8)      (27.3)
WAYFAIR INC- A    W US           3,007.6     (682.4)      237.0
WAYFAIR INC- A    WUSD EU        3,007.6     (682.4)      237.0
WAYFAIR INC- A    1WF QT         3,007.6     (682.4)      237.0
WAYFAIR INC- A    1WF GZ         3,007.6     (682.4)      237.0
WAYFAIR INC- A    1WF GR         3,007.6     (682.4)      237.0
WAYFAIR INC- A    WEUR EU        3,007.6     (682.4)      237.0
WESTERN UNION     W3U GR         8,803.7      (19.7)     (192.1)
WESTERN UNION     W3U TH         8,803.7      (19.7)     (192.1)
WESTERN UNION     WU* MM         8,803.7      (19.7)     (192.1)
WESTERN UNION     WUEUR EU       8,803.7      (19.7)     (192.1)
WESTERN UNION     W3U GZ         8,803.7      (19.7)     (192.1)
WESTERN UNION     WU US          8,803.7      (19.7)     (192.1)
WESTERN UNION     W3U QT         8,803.7      (19.7)     (192.1)
WIDEOPENWEST INC  WOW US         2,469.0     (267.5)      (95.5)
WIDEOPENWEST INC  WU5 TH         2,469.0     (267.5)      (95.5)
WIDEOPENWEST INC  WU5 GR         2,469.0     (267.5)      (95.5)
WIDEOPENWEST INC  WOW1EUR EU     2,469.0     (267.5)      (95.5)
WIDEOPENWEST INC  WU5 QT         2,469.0     (267.5)      (95.5)
WINGSTOP INC      WING1EUR EU      168.1     (211.6)       (4.8)
WINGSTOP INC      EWG GR           168.1     (211.6)       (4.8)
WINGSTOP INC      WING US          168.1     (211.6)       (4.8)
WINMARK CORP      WINA US           48.5       (3.1)       12.6
WINMARK CORP      GBZ GR            48.5       (3.1)       12.6
WORKHORSE GROUP   WKHS US           28.0      (38.4)      (20.5)
WW INTERNATIONAL  WW6 GR         1,516.4     (719.9)      (35.9)
WW INTERNATIONAL  WTWUSD EU      1,516.4     (719.9)      (35.9)
WW INTERNATIONAL  WW6 GZ         1,516.4     (719.9)      (35.9)
WW INTERNATIONAL  WW US          1,516.4     (719.9)      (35.9)
WW INTERNATIONAL  WTWEUR EU      1,516.4     (719.9)      (35.9)
WW INTERNATIONAL  WW6 QT         1,516.4     (719.9)      (35.9)
WW INTERNATIONAL  WW6 TH         1,516.4     (719.9)      (35.9)
WW INTERNATIONAL  WTW AV         1,516.4     (719.9)      (35.9)
WYNDHAM DESTINAT  WD5 GR         7,563.0     (570.0)      499.0
WYNDHAM DESTINAT  WD5 TH         7,563.0     (570.0)      499.0
WYNDHAM DESTINAT  WYNUSD EU      7,563.0     (570.0)      499.0
WYNDHAM DESTINAT  WYND US        7,563.0     (570.0)      499.0
WYNDHAM DESTINAT  WD5 QT         7,563.0     (570.0)      499.0
WYNDHAM DESTINAT  WYNEUR EU      7,563.0     (570.0)      499.0
YELLOW PAGES LTD  Y CN             353.3      (77.7)       54.9
YELLOW PAGES LTD  YLWDF US         353.3      (77.7)       54.9
YELLOW PAGES LTD  YMI GR           353.3      (77.7)       54.9
YELLOW PAGES LTD  YEUR EU          353.3      (77.7)       54.9
YUM! BRANDS INC   TGR TH         5,003.0   (8,097.0)      561.0
YUM! BRANDS INC   TGR GR         5,003.0   (8,097.0)      561.0
YUM! BRANDS INC   YUM* MM        5,003.0   (8,097.0)      561.0
YUM! BRANDS INC   YUMUSD SW      5,003.0   (8,097.0)      561.0
YUM! BRANDS INC   YUMUSD EU      5,003.0   (8,097.0)      561.0
YUM! BRANDS INC   TGR GZ         5,003.0   (8,097.0)      561.0
YUM! BRANDS INC   YUM AV         5,003.0   (8,097.0)      561.0
YUM! BRANDS INC   TGR TE         5,003.0   (8,097.0)      561.0
YUM! BRANDS INC   YUMEUR EU      5,003.0   (8,097.0)      561.0
YUM! BRANDS INC   TGR QT         5,003.0   (8,097.0)      561.0
YUM! BRANDS INC   YUM SW         5,003.0   (8,097.0)      561.0
YUM! BRANDS INC   YUM US         5,003.0   (8,097.0)      561.0



                            *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

TCR subscribers have free access to our on-line news archive.
Point your Web browser to http://TCRresources.bankrupt.com/and use
the e-mail address to which your TCR is delivered to login.

                            *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,
Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
Fernandez, Christopher G. Patalinghug, and Peter A. Chapman, Editors.

Copyright 2020.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $975 for 6 months delivered via
e-mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Peter A.
Chapman at 215-945-7000.

                   *** End of Transmission ***