/raid1/www/Hosts/bankrupt/TCR

/raid1/www/Hosts/bankrupt/TCR_Public/200318.mbx T R O U B L E D C O M P A N Y R E P O R T E R Wednesday, March 18, 2020, Vol. 24, No. 77 Headlines 267 SAW MILL: Seeks to Hire Penachio Malara as Legal Counsel 35NB LLC: Seeks to Hire Nelson M. Jones III as Counsel 466 THACKERAY: U.S. Trustee Unable to Appoint Committee 5 STONE PRODUCTS: Bankr. Administrator Unable to Appoint Committee ALPHA GUARDIAN: Gets Approval to Hire Force Ten, Appoint CRO ALPHA GUARDIAN: Hires Mr. Rubin of Force Ten as CRO AMERICA-CV STATION: Plan Solicitation Period Extended to May 6 AMPLE HILLS: Case Summary & 30 Largest Unsecured Creditors ANOTHER DAN MOON: U.S. Trustee Unable to Appoint Committee ARDEN HOLDINGS: Unsecureds to Be Paid in Full Over Time AREWAY ACQUISITION: Hires Hillyer Group as Restructuring Advisor ART VAN FURNITURE: Clark Hill Represents Four Landlords AURORA COMMERCIAL: Hires Prime Clerk as Administrative Advisor AVINGER INC: Receives Noncompliance Notice from Nasdaq BELLEAIR RESERVE: Seeks to Hire David W. Steen as Counsel BEN DAILEY: U.S. Trustee Unable to Appoint Committee BL RESTAURANTS: Committee Hires Kelley Drye as Lead Counsel BL RESTAURANTS: Committee Hires Province as Financial Advisor BL RESTAURANTS: Committee Hires Womble Bond as Counsel BLUE RIDGE SITE: To Seek Plan Confirmation April 16 BRUCE ELIEFF: Warburton Buying Yorba Linda Property for $1M BRUCE ELIEFF: Warmuth Buying Rancho Mirage Property for $2.45M CADIZ INC: Reports $29.5 Million Net Loss for 2019 CAMERON TRANSPORT: Case Summary & 20 Largest Unsecured Creditors CAPSTONE OILFIELD: Obtains Interim OK to Use Cash Collateral CARE FOR YOU: Seeks to Hire Roderick Linton as Bankruptcy Counsel CARMEL MEDICAL: Says $8 Million Sale to Pay Claims in Full CENTRAL PALM BEACH SURGERY: Taps GlassRatner as Financial Advisor CLEVELAND STREET: Voluntary Chapter 11 Case Summary COCRYSTAL PHARMA: Closes $6.8 Million Registered Direct Offering COLUMBIA NUTRITIONAL: Committee Objects to DIP Motion COLUMBIA NUTRITIONAL: Has Interim Nod to Borrow DIP Funds, Use Cash CONCRETE GUYS: Kapitus Seeks to Prohibit Debtor Cash Access COUNTRYSIDE FUNERAL: Case Summary & 11 Unsecured Creditors CRAFTWORKS PARENT: U.S. Trustee Appoints Creditors' Committee CRM CITY FELLOWSHIP: Taps Evan Howell as Real Estate Broker DIOCESE OF BUFFALO: U.S. Trustee Appoints Creditors' Committee ENTERPRISE INSURANCE: Taps BransonLaw as Special Counsel EVERGREEN PALLET: Lift Parts Lease to Be Assumed, Unimpaired FERRELLGAS PARTNERS: Moody's Lowers CFR to Caa3, Outlook Neg FIRST FLORIDA: Unsecureds to Split $600K or Sale Proceeds GA PAVING: Expects to File Plan & Disclosures by Aug. 31 GLASS CONTRACTORS: Hires Dohmeyer as Valuation Consultant GLENVIEW HEALTH: Unsecureds to Get 24% in 60 Months GRAFTON FOOD: Has Interim Approval to Use Cash Collateral GREENPOINT TACTICAL: Hires Husch Blackwell as Special Counsel GVM INC: Unsecured Creditors to Get $100K Under Plan HAGUE TEXTILES: Gets Interim Access to Cash Collateral HEART TO HEART: Unsecureds Recover 40% Under Plan HEIRLOOM INC: Hires Profound Financial as Accountant HUSCH & HUSCH: Hires Southwell & O'Rourke as Counsel HVI CAT CANYON: Trustee Taps Buynak Fauver as Special Counsel HYGEA HOLDINGS: Court Grants Interim Nod on $9.9M DIP Loan IBIS NETWORKS: Court Confirms Reorganization Plan as Modified INTERNAP TECHNOLOGY: Case Summary & 30 Top Unsecured Creditors JACK COUNTY HOSPITAL: March 18 Meeting to Form Panel Cancelled JEWELTEX ENTERPRISES: May Use Cash Collateral on Interim Basis JMU LIMITED: Falls Short of NASDAQ Minimum Bid Price Requirement JMU LIMITED: Haohan Xu Has 31.2% Stake as of March 11 KINGMAN FARMS: 5212 Spanish Heights Is Equity Investor in Plan LEAWOOD PROPERTIES: U.S. Trustee Unable to Appoint Committee LEOLAND MCGUIRE: Seeks to Hire Corral Tran as Counsel LIVING EPISTLES: Hopsons Buying Milwaukee Property for $100K LIZAMA CARRIERS: Gets Interim OK to Access Cash Collateral LK SAVAGE: U.S. Trustee Unable to Appoint Committee MAISON PREMIERE: Makes Immaterial Modifications to Plan MCDERMOTT INTERNATIONAL: U.S. Trustee Unable to Appoint Committee MGM RESORTS: Moody's Reviews Ba3 CFR for Downgrade on Coronavirus MILLMAC CORPORATION: Wins Final Nod on Cash Collateral Request MINOTAUR ACQUISITION: Moody's Alters Outlook on B3 CFR to Negative MUSTAIN MILK: Seeks to Hire Collins Webster as Legal Counsel NAI CAPITAL: U.S. Trustee Appoints Creditors' Committee NAJEEB KHAN: Trustee Selling Scottsdale Property for $2.2M NAPHTHA ENTERPRISES: Unsecureds to Recover 33% in Plan NASCAR HOLDINGS: Moody's Reviews Ba2 CFR for Downgrade on COVID-19 NATURAL RESOURCE: Moody's Affirms B2 CFR & Alters Outlook to Neg. ONE HUNDRED FOLD: Defers Plan Hearing to April 1 PAPARDELLE 1068: April 15 Hearing on Disclosure Statement Set PAPER BLAST CO: Taps Schneider & Stone as Legal Counsel PARALLAX HEALTH: All Three Proposals Approved at Annual Meeting PENNRIVER COMMUNITY: Gets Approval to Hire Zousmer Law as Counsel PEOPLE WHO CARE: April 15 Plan Confirmation Hearing Set PIER 1 IMPORTS: Hires Malfitano as Asset Disposition Advisor PIONEER ENERGY: April 7 Combined Hearing on Plan & Disclosures PLUS THERAPEUTICS: Welcomes Two New Directors PRODIGY DIALYSIS: Taps Spence Custer as Legal Counsel PROVIDENT FUNDING: Moody's Reviews B1 CFR for Downgrade PURADYN FILTER: Secures $250,000 Credit Facility REGIONAL MEDICAL: Unsecureds Get 20% to 35% Distribution in Plan RENTPATH HOLDINGS: CSGP Buying All Assets for $587.5M Cash REVOLAR TECHNOLOGY: March 20 Hearing on Disclosure Statement RON’S EXCAVATING: Court Denies Cash Motion, Case Converted ROSEGOLD HOTELS: Court Grants Interim OK on Cash Collateral Motion RQW - REAL ESTATE: Unsecureds to be Paid in Full in Plan S&S CRAFTSMEN: Case Summary & 20 Largest Unsecured Creditors SAN REMIGIO: Seeks Court Approval to Hire All Star Realtors SEABRAS 1 USA: Taps FTI Consulting as Financial Advisor SIGNS UP INC: Seeks to Hire H. Anthony Hervol as Attorney SILICON HILLS CAMPUS: Hires Ciardi Ciardi as Special Counsel SKYLINE RIDGE: Unsecured Claims to be Paid in Full SPEEDWAY MOTORSPORTS: Moody's Reviews Ba3 CFR for Downgrade SPINEGUARD INC: U.S. Trustee Unable to Appoint Committee STAR CHAIN: GC Checkmate Buying All Assets for $1.5 Million SUNESIS PHARMACEUTICALS: Avidity Partners, et al. Own 4.4% Stake TAMPA BAY MARINE: Seeks to Hire Blanchard Law as Legal Counsel TAX AND FINANCIAL: Seeks to Hire Caddell Reynolds as Legal Counsel TNTMD PA: U.S. Trustee Unable to Appoint Committee TOPAZ VILLAS: Unsecureds to be Paid in Full in 12 Months ULTRA PETROLEUM: Executives Will Receive $1.6M Incentive Bonuses UNIT CORP: Reports $553.9 Million Net Loss for 2019 VESTAVIA HILLS: MED Healthcare Buying All Assets for $12 Million WANSDOWN PROPERTIES: Granted Interim Access to Cash Collateral WATSON VALVE: Obtains Interim Court Nod to Use Cash Collateral WC HIRSHFELD: Seeks to Hire Ciardi Ciardi as Bankruptcy Counsel WD-I ASSOCIATES: Taps Cherry Bekaert as Accountant WEST ALLEY BBQ: Case Summary & 20 Largest Unsecured Creditors WEST GARDEN CLUB: Gets Approval to Hire Zousmer Law as Counsel WINSTEAD'S COMPANY: Seeks to Hire Evans & Mullinix as Counsel WYNN RESORTS: Moody's Reviews Ba3 CFR for Downgrade on COVID-19 WYOMING INVESTMENT: Hires Markus Williams as Counsel ZPOWER LLC: Case Summary & 20 Largest Unsecured Creditors ********* 267 SAW MILL: Seeks to Hire Penachio Malara as Legal Counsel ------------------------------------------------------------ 267 Saw Mill LLC seeks authority from the U.S. Bankruptcy Court for the Southern District of New York to hire Penachio Malara, LLP as its legal counsel. The firm will provide these services in connection with the Debtor's Chapter 11 case: a. assist the Debtor in the administration of the case and in complying with applicable laws and rules; b. set a bar date, review tax claims and resolve claims which should be disallowed; c. address lease issues; and d. assist in preparing and in obtaining confirmation of the Debtor's Chapter 11 plan. Penachio Malara will be paid at these hourly rates: Attorneys $385 to $485 Paralegals $175 The firm will be paid a retainer in the amount of $10,000 and will be reimbursed for work-related expenses incurred. Anne Penachio, Esq., a partner at Penachio Malara, assured the court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. Penachio Malara can be reached at: Anne J. Penachio, Esq. Penachio Malara, LLP 235 Main Street, Suite 610 White Plains, NY 10601 Tel: (914) 946-2889 Email: apenachio@pmlawllp.com About 267 Saw Mill 267 Saw Mill LLC is a single asset real estate debtor (as defined in 11 U.S.C. Section 101(51B). It owns in fee simple a property located at 267 Saw Mill River Road, Elmsford, N.Y., valued by the company at $2.5 million. 267 Saw Mill LLC sought protection under Chapter 11 of the Bankruptcy Code (S.D.N.Y. Case No. 20-22281) on Feb. 20, 2020. In the petition signed by John Posimato, managing member, the Debtor disclosed $2.5 million in assets and $3.7 million in liabilities. Judge Robert D. Drain oversees the case. Anne Penachio, Esq. at Penachio Malara, LLP, is the Debtor's legal counsel. 35NB LLC: Seeks to Hire Nelson M. Jones III as Counsel ------------------------------------------------------ 35NB, LLC, seeks authority from the U.S. Bankruptcy Court for the Southern District of Texas to employ the Law Office of Nelson M. Jones III, as counsel to the Debtor. 35NB, LLC requires Nelson M. Jones III to: a. assist the Debtor with the resolution of all contested claims; b. assist the Debtor with the proposing, prosecuting and consummating the plan of reorganization; c. advise the Debtor with regard to any litigation matters that exist or might arise prior to confirmation of the plan of reorganization; d. prepare all appropriate pleadings to be filed in the bankruptcy case; and e. perform any other legal services that may be appropriate in connection with the reorganization case. Nelson M. Jones III will be paid at these hourly rates: Attorneys $250 to $400 Paralegals $125 to $150 Nelson M. Jones III will also be reimbursed for reasonable out-of-pocket expenses incurred. Nelson M. Jones III, a partner of the Law Office of Nelson M. Jones III, 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. Nelson M. Jones III can be reached at: Nelson M. Jones III, Esq. LAW OFFICE OF NELSON M. JONES III 440 Louisiana, Suite 1575 Houston, TX 77002 Tel: (713) 236-8736 E-mail: Njoneslawfirm@aol.com About 35NB, LLC 35NB LLC, based in Houston, TX, filed a Chapter 11 petition (Bankr. S.D. Tex. Case No. 20-31457) on March 2, 2020. In the petition signed by Tom Vo, managing member, the Debtor was estimated to have $1 million to $10 million in both assets and liabilities. Nelson M. Jones III, Esq., at the Law Office of Nelson M. Jones III, serves as bankruptcy counsel. 466 THACKERAY: U.S. Trustee Unable to Appoint Committee ------------------------------------------------------- The Office of the U.S. Trustee on March 12, 2020, disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of 466 Thackeray Place Industries, LLC. About 466 Thackeray Place Industries 466 Thackeray Place Industries, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ga. Case No. 20-60498) on Jan. 7, 2020. At the time of the filing, the Debtor disclosed assets of between $100,001 and $500,000 and liabilities of the same range. Judge Sage M. Sigler oversees the case. Gai Lynn McCarthy, Esq., is the Debtor's legal counsel. 5 STONE PRODUCTS: Bankr. Administrator Unable to Appoint Committee ------------------------------------------------------------------ The U.S. Bankruptcy Administrator for the Middle District of Alabama on March 12 disclosed in a filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of 5 Stone Products, LLC. About 5 Stone Products 5 Stone Products, LLC, is a privately held company engaged in nonmetallic mineral mining and quarrying. 5 Stone Products sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Ala. Case No. 20-80143) on Jan. 29, 2020. At the time of the filing, the Debtor disclosed assets of between $1 million and $10 million and liabilities of the same range. Judge William R. Sawyer oversees the case. Ralph K. Strawn, Jr., Esq., at Strawn & Robertson, LLC, is the Debtor's legal counsel. ALPHA GUARDIAN: Gets Approval to Hire Force Ten, Appoint CRO ------------------------------------------------------------ Alpha Guardian and its affiliates received approval from the U.S. Bankruptcy Court for the District of Nevada to hire Force Ten Partners, LLC and appoint Nicholas Rubin, the firm's partner, as chief restructuring officer. Mr. Rubin and his firm will provide these financial advisory and management services in connection with the Debtors' Chapter 11 cases: a. manage the affairs of the Debtors, supervise the Debtors' employees, management and professionals, and provide periodic reports to the special committee; b. assist the Debtors' legal counsel in the administration of their bankruptcy cases; c. provide support services; d. assist in obtaining debtor-in-possession financing and exit financing; e. assist in the sale of the Debtors' real property; f. seek to refinance the Debtors' existing indebtedness; g. seek to maximize the value of the Debtors' assets through restructuring the operations of their businesses; h. seek to maximize the value of the Debtors' assets and operations through, among other things, the potential sale, recapitalization, restructuring or reorganization of the Debtors' business; i. provide assistance in connection with motions, responses or other court activity as directed by legal counsel; j. provide monthly operating reports required by a bankruptcy court; k. provide periodic reporting to stakeholders; l. evaluate and develop restructuring plans and other strategic alternatives. m. assist in the formulation and preparation of the Debtors' disclosure statement and plan of reorganization; n. assist in negotiations with the Debtors' creditors and respond to any objections to the bankruptcy plan; and o. prepare and offer declarations, reports, depositions and in-court testimony. Force Ten Partners will be paid at these hourly rates: Partners $650 – $750 Directors $350 – $595 Analysts $225 – $350 Staff $100 – $225 Mr. Rubin's hourly rate is $750. Mr. Rubin disclosed in a court filing that his firm is "disinterested" as defined in section 101(14) of the Bankruptcy Code. Force Ten Partners can be reached through: Nicholas Rubin Force Ten Partners, LLC 20341 SW Birch, Suite 220 Newport Beach, CA 92660 Office: (949) 357-2368 / (949) 357-2360 Mobile: (949) 933-7011 Email: bweiss@force10partners.com About Alpha Guardian Established in July 2017, Alpha Guardian -- https://www.alphaguardian.com -- provides consumers with secure storage solutions. Its products are sold to major retailers across the United States under the Cannon Safe, Stack-On and GunVault brands, all of which are designed to fill unique consumer needs. The company operates manufacturing and distribution facilities in the U.S. and Mexico and has employees in multiple countries. Alpha Guardian and its debtor-affiliates concurrently filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Nev. Case No. 20-11016) on Feb. 24, 2020. The petitions were signed by Nicholas D. Rubin, chief restructuring officer. At the time of filing, the Debtor estimated $10 million to $50 million in assets and $100 million to $500 million in liabilities. The Debtors tapped Garman Turner Gordon, LLP as legal counsel, and Stretto as claims, noticing and solicitation agent; and Force Ten Partners, LLC as financial advisor. Nicholas Rubin, a partner at Force Ten, is the Debtors' chief restructuring officer. The U.S. Trustee for Region 17 appointed a committee of unsecured creditors on March 11, 2020. ALPHA GUARDIAN: Hires Mr. Rubin of Force Ten as CRO --------------------------------------------------- Alpha Guardian, a Nevada Corporation, and its debtor-affiliates, seeks authority from the U.S. Bankruptcy Court for the District of Nevada to employ Mr. Nicholas D. Rubin of Force Ten Partners, LLC, as chief restructuring officer to the Debtors. Alpha Guardian requires Force Ten to: a. manage the affairs of the Debtors, supervise the Debtors' employees, management and professionals and provide periodic reports to the Special Committee; b. assist legal counsel and the Debtors executing the Chapter 11 Cases; c. assist the employees of the Debtors by providing support services; d. seek debtor-in-possession financing for the Debtors; e. seek exit financing for the Debtors; f. seek to maximize the value of the Debtors' assets through the sale of real property; g. seek to refinance the Debtors' existing indebtedness; h. seek to maximize the value of the Debtors' assets and operations through restructuring the operations of the Debtors' businesses; i. seek to maximize the value of the Debtors' assets and operations through, among other things, the potential: sale, recapitalization, restructuring or reorganizing of the Debtors' business, in whole or in part; j. provide assistance in connection with motions, responses or other court activity as directed by legal counsel; k. provide Monthly Operating Reports required by a bankruptcy court; l. provide periodic reporting to stakeholders; m. evaluate and develop restructuring plans and other strategic alternatives for maximizing the value of the Debtors' assets; n. assist in the formulation and preparation of the Debtors' disclosure statement and plan of reorganization, if applicable, including the creation of financial projections and supporting methodology, key assumptions and rationale, appropriate financial analysis and evaluation of the Debtors' operations, and supporting financial statements and pro forma budgets and projections; o. assist in negotiations with the Debtors' creditors and responding to any objections to the bankruptcy plan by parties in interest; and p. prepare and offer declarations, reports, depositions and in-court testimony. Force Ten will be paid at these hourly rates: Partners $650 to $750 Directors $350 to $595 Analysts $225 to $350 Staff $100 to $225 Prior to the Petition Date, Debtors had paid Force Ten $237,057.70. As of the Petition Date, Force Ten is holding $2,942.30 on retainer. Force Ten will also be reimbursed for reasonable out-of-pocket expenses incurred. Nicholas D. Rubin, partner of Force Ten Partners, 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. Force Ten can be reached at: Nicholas D. Rubin FORCE TEN PARTNERS 20341 SW Birch, Suite 220 Newport Beach, CA 92660 Tel: (949) 357-2360 About Alpha Guardian Established in July 2017, Alpha Guardian -- https://www.alphaguardian.com – provides consumers with secure storage solutions. Its products are sold to major retailers across the United States under the Cannon Safe, Stack-On and GunVault brands, all of which are designed to fill unique consumer needs. The company operates manufacturing and distribution facilities in the U.S. and Mexico and has employees in multiple countries. Cannon Safe -- https://www.cannonsafe.com -- is a manufacturer of large-scale gun safes and secure home storage solutions. Since 1965, its focus has been on manufacturing safes to protect prized possessions. GunVault -- https://www.gunvault.com -- offers a wide range of gun safes including biometric safes, pistol safes, and portable safes. Stack-On -- https://www.stack-on.com -- manufactures and distributes gun security products. Alpha Guardian, a Nevada corporation, based in Henderson, NV, filed a Chapter 11 petition (Bankr. D. Nev. Lead Case No. 20-11016) on Feb. 24, 2020. In the petition was signed by CRO Nicholas D. Rubin, the Debtor was estimated to have $10 million to $50 million in assets and $100 million to $500 million in liabilities. The Hon. Bruce T. Beesley presides over the case. The Debtor tapped GARMAN TURNER GORDON LLP, as bankruptcy counsel; STRETTO, as claims noticing and solicitation agent; and FORCE TEN PARTNERS, LLC, as CRO. AMERICA-CV STATION: Plan Solicitation Period Extended to May 6 -------------------------------------------------------------- Judge Jay Cristol of the U.S. Bankruptcy Court for the Southern District of Florida extended to May 6 the period for America-CV Station Group, Inc. and its affiliates to solicit acceptances for their Chapter 11 plan. The companies' exclusive filing period to file a plan expired on March 11. The companies are currently seeking conditional approval for their disclosure statement filed on Feb. 26. The hearing to consider the request is scheduled for April 21. About America-CV Station Group America-CV Station Group, Inc. is a privately held company primarily in the television station ownership and program production business. It provides broadcasting services. America-CV and affiliate Caribevision Holdings, Inc. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case Nos. 19-16355 and 19-16359) on May 14, 2019. On May 28, 2019, America-CV Network, LLC and Caribevision TV Network, LLC also filed Chapter 11 petitions (Bankr. S.D. Fla. Case Nos. 19-16976 and 19-16977). The cases are jointly administered under Case No. 19-16355). At the time of the filing, each of the Debtors disclosed assets of $10 million to $50 million and liabilities of $1 million to $10 million. Judge Jay A. Cristol oversees the cases. The Debtors tapped Genovese Joblove & Battista, P.A. as their bankruptcy counsel, and Fletcher, Heald & Hildreth, P.L.C. as Genovese's co-counsel. On Feb. 26, 2020, the Debtors filed a Chapter 11 plan of reorganization and disclosure statement. AMPLE HILLS: Case Summary & 30 Largest Unsecured Creditors ---------------------------------------------------------- Lead Debtor: Ample Hills Holdings, Inc. d/b/a Ample Hills Creamery 305 Nevins Street Brooklyn, NY 11215 Business Description: Ample -- https://www.amplehills.com -- is a Brooklyn-based producer, distributor, and retailer of ice cream and related merchandise. It currently operates 10 retail stores and kiosks, which are primarily located in the metropolitan New York area, and a factory in the Red Hook neighborhood of Brooklyn. Chapter 11 Petition Date: March 15, 2020 Court: United States Bankruptcy Court Eastern District of New York Sixteen affiliates that concurrently filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code: Debtor Case No. ------ -------- Ample Hills Holdings, Inc. (Lead Case) 20-41559 Ample Hills Astoria, LLC 20-41560 Ample Hills Aventura, LLC 20-41561 Ample Hills Chelsea, LLC 20-41562 Ample Hills Creamery, Inc. 20-41563 Ample Hills Essex Street Market, LLC 20-41564 Ample Hills Fireboat House, LLC 20-41565 Ample Hills Gowanus, LLC 20-41566 Ample Hills Highline, LLC 20-41567 Ample Hills Jersey City, LLC 20-41568 Ample Hills LBV, LLC 20-41569 Ample Hills Manufacturing, LLC 20-41570 Ample Hills PPW, LLC 20-41571 Ample Hills Red Hook, LLC 20-41572 Ample Hills Vanderbilt, LLC 20-41573 Ample Hills Wholesale Online, LLC 20-41574 Judge: Hon. Nancy Hershey Lord Debtors' Counsel: Stephen B. Selbst, Esq. George V. Utlik, Esq. Rachel Ginzburg, Esq. Steven B. Smith, Esq. Silvia Stockman, Esq. HERRICK FEINSTEIN LLP Two Park Avenue New York, NY 10016 Tel: 212-592-1400 Fax: 212-592-1500 Email: sselbst@herrick.com gutlik@herrick.com rginzburg@herrick.com ssmith@herrick.com sstockman@herrick.com Debtors' Investment Banker: SSG CAPITAL ADVISORS, LLC Debtors' Claims, Balloting & Noticing Agent: BANKRUPTCY MANAGEMENT SOLUTIONS, INC. DBA STRETTO https://cases.stretto.com/amplehills Ample Hills Holdings' Estimated Assets: $1 million to $10 million Ample Hills Holdings' Estimated Liabilities: $10 million to $50 million The petition was signed by Phillip Brian David Smith, CEO. A full-text copy of Ample Hills Holdings, Inc.'s petition is available for free at PacerMonitor.com at: https://is.gd/S5jLAK List of Ample Hills Holdings's 30 Largest Unsecured Creditors: Entity Nature of Claim Claim Amount ------ --------------- ------------ 1. Beard Street Convertible Notes $1,600,000 Warehouse, Inc. 175 Van Dyke Street, Suite 322 Attn: Gregory J. O'Connell Brooklyn, NY 11231 Email: gregory@redhookwaterfront.com 2. St. George Equities, LLC Convertible Notes $1,000,000 50 Livingston Street Attn: George Spanakos Brooklyn, NY 11201 3. 175 Van Dyke LLC Convertible Notes $1,000,000 175 Van Dyke Street, Suite 322 Attn: Gregory O'Connell Brooklyn, NY 11231 Email: gregory@redhookwaterfront.com 4. The Greg O'Connell Trust Convertible Notes $1,000,000 175 Van Dyke Street Suite 322 Brooklyn, NY 11231 Email: gregory@redhookwaterfront.com 5. Fausto A. Frustaci Convertible Notes $500,000 1049 67th Street Brooklyn, NY 11219 Email: FAU1969@aol.com 6. Rosecliff Ventures Convertible Notes $500,000 245 Fifth Avenue 14th Floor New York, NY 10016 Email: mmurphy@rosecliffvc.com 7. Pettibone Realty Corp. Convertible Notes $400,000 175 Van Dyke Street, Suite 322 Brooklyn, NY 11231 Email: gregory@redhookwaterfront.com 8. Actium Partners, LLC Convertible Notes $300,000 111 East Broadway, Ste. 390 Salt Lake City, UT 84111 Email: paul@actiumpartners.com 9. NYC 55 Corp Convertible Notes $300,000 c/o Como Holdings 475 Park Avenue South, 19th Fl. New York, NY 10016 Email: grapsteins@comoholdingsusa.com 10. Action Construction Construction $259,000 448 79th Street Brooklyn NY 11209 11. H2 Investment Convertible Notes $250,000 Holdings Ltd. PO Box 3483 c/o Hamza W. Zahid Road Town, Tortola, British VI VG 1110 Email: hamzazahid@zahid.com 12. Danielle Galland Interior Designer $234,000 39 West 32nd Street, Suite 903 New York, NY 10001 13. Lerer Hippeau Convertible Notes $192,197 Convertible Notes Ventures IV LP 100 Crosby Street Suite 308 New York, NY 10012 Email: josh@lererhippeau.com 14. Polipa North America Packaging $187,130 29 Emmons Dr, Designers Ste# A-10 Princeton, NJ 08540 15. Con Edison Utility Provider $178,000 JAF Station P.O. Box 1702 New York, NY 120116 16. BBPC Operating Fund Delinquent Rent $118,542 334 Furman Street, Brooklyn NY 11201 17. Kings Harbor View Delinquent Rent $113,141 Associates Limited Partnership 175 Van Dyke Street, Suite 322A Brooklyn, NY 11231 18. Berkshire Vendor $112,626 32145 Collection Center D Chicago, IL 60693 19. 200 CPS Investment Convertible Notes $100,000 Corp, LLC Ample Hill III Series 1270 Ave. of Americas, Ste 302 New York, NY 10020 Email: hongfei.zhang@kigca.com 20. Vlad Khandros Convertible Notes $100,000 345 W. 4th Street -8 New York, NY 10014 Email: vlad.khandros@gmail.com 21. Justin Davda Convertible Notes $100,000 300 Hermosa Way Menlo Park, CA 94025 Email: justindavda@gmail.com 22. ALEL Holdings LLC Convertible Notes $100,000 475 Park Avenue South – 19th F New York, NY 10016 Email: grapsteins@como holdingsusa.com 23. Glacius Series A, LLC Convertible Notes $75,000 2180 Coldwater Canyon Dr. Beverly Hills, CA 90210 Email: adam@struckcapital.com 24. Aventura Mall Delinquent Rent $72,745 Venture c/o Turnberry Aventura Mall Company, Ltd 19501 Biscayne Boulevard, Suite 400, Aventura, FL 33180 25. E-tailer, Inc. Vendor $71,129 PO Box 759 Ephraim, WI 54211 26. FDP Ice Cream Vendor $61,431 1241 McDonald Ave Brooklyn, NY 11230 27. Wyrick Robbins Yates Professional $54,874 4101 Lake Boone Services Trail, Suite 300 Raleigh, NC 27607 28. Cintas Corporation Professional $53,408 6800 Cintas Blvd. Services Cincinnati, oh 45262 29. Charles C. Smith Convertible Notes $50,000 Trustee, Carolyn C. Smith Residuary 289 11th Street Brooklyn, NY 11215 Email: csmithccs@yahoo.com 30. Dairyland Vendor $42,081 1300 Viele Ave. Bronx NY 10474 ANOTHER DAN MOON: U.S. Trustee Unable to Appoint Committee ---------------------------------------------------------- The U.S. Trustee, until further notice, will not appoint an official committee of unsecured creditors in the Chapter 11 case of Another Dan Moon Global Enterprise Palm Coast Limited Liability, according to court dockets. About Another Dan Moon Global Enterprise Another Dan Moon Global Enterprise Palm Coast Limited Liability Company sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 20-00367) on Feb. 3, 2020. At the time of the filing, the Debtor had estimated assets of less than $50,000 and liabilities of between $50,001 and $100,000. Judge Cynthia C. Jackson oversees the case. The Debtor is represented by The Law Offices of Jason A. Burgess, LLC. ARDEN HOLDINGS: Unsecureds to Be Paid in Full Over Time ------------------------------------------------------- Arden Holdings, LLC, filed a Plan of Reorganization. The Plan proposes to treat claims as follows: * Class 1 Rebecca and Rudy Harrell claims are fully secured and valued at $1,330,000. The Debtor will make monthly principle and interest payments on the Harrells' secured claim amortized over 30 years at 5.00% interest, in the estimated amount of $7,178. Payments will begin on the 10th of the month following the Effective Date and continue on the 10th of each month thereafter. All amounts due and owing on the secured portion of the claim will come due 60 months from the first payment under the Plan. * Findlay Roofing and Construction, Inc., asserting a secured claim in Class 2, filed a mechanics’ lien in the amount of $2,720. Findlay's claim will be treated under Class 4 as a general unsecured claim. * Randal Lowe Plumbing LLC, asserting a secured claim in Class 3, filed a mechanics' lien in the amount of $700. Randal's claim will be treated under Class 4 as a general unsecured claim. * Holders of Class 4 General Unsecured Claims will be paid a pro rata share of $3,419 in semi-annual installments beginning on the 6th month anniversary after the Effective Date and continuing for 2 years for a total of four payments. According to the Debtor's Best Interests Test, the Debtor is paying enough to unsecured creditors to pay them in full over time; thus, they are receiving as much as they would in a Chapter 7. Funds necessary to fund the Plan will come from contributions made by owners Sean and Sheree Boyd. A full-text copy of the Disclosure Statement dated March 2, 2020, is available at https://tinyurl.com/u4kbskd from PacerMonitor.com at no charge. Attorney for Debtor: Will B. Geer 50 Hurt Plaza, SE, Suite 1150 Atlanta, Georgia 30303 Tel: (404) 233-9800 Fax: (404) 287-2767 About Arden Holdings Arden Holdings, LLC's primary asset is the real property located at 3160 Arden Drive, Atlanta, Georgia 30305. Arden Holdings filed a Chapter 11 petition (Bankr. W.D. Ga. Case No. 19-69373) on Dec. 2, 2019. In the petition signed by Sean Boyd, managing member, the Debtor was estimated to have $1 million to $10 million in both assets and liabilities. Will B. Geer, Esq., at Wiggam & Geer, LLC, serves as bankruptcy counsel to the Debtor. AREWAY ACQUISITION: Hires Hillyer Group as Restructuring Advisor ---------------------------------------------------------------- Areway Acquisition, Inc. and its affiliates seek authority from the U.S. Bankruptcy Court for the Northern District of Ohio to hire Hillyer Group, LLC as their restructuring advisor. The firm will provide these services in connection with the Debtors' Chapter 11 cases: (a) review the Debtors' financial plans and projections and assist in establishing such plans and projections on an on-going basis; (b) review the Debtors' cost structure and profitability and make recommendations for improvement; (c) communicate and negotiate with creditors; (d) assist in the compilation and reporting of financial information as needed for legal filings, including the formulation of a plan of reorganization; (e) assist the Debtors in complying with any treasury management requirements; (f) assist the Debtors in securing new equity, debt or other forms of capital; and (g) assist the Debtors in any sale of their assets. The hourly rates charged by the firm range from $200 for professional staff to $250 for project lead and from $75 to $150 for support staff. Hillyer Group is a disinterested person within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached through: John T. Hillyer Hillyer Group LLC 111 Stow Ave #100 Cuyahoga Falls, OH 44221 Phone: +1 330-388-1219 About Areway Acquisition Inc. Areway Acquisition, Inc. -- http://arewayacq.com/-- is a supplier of finished forged and cast metal products with complete in-house machining, automated polishing and buffing, powder and liquid painting, and an ISO certified quality control system capable of ASTM, SAE, and OEM specification testing. Areway Acquisition and two affiliates sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ohio Lead Case No. 20-10665) on Feb. 25, 2020. In the petition signed by John S. Hadgis, president, Areway Acquisition estimated $1 million to $10 million in both assets and liabilities. Judge Jessica E. Price Smith oversees the case. Jeffrey M. Levinson, Esq., at Levinson LLP, is the Debtors' legal counsel. ART VAN FURNITURE: Clark Hill Represents Four Landlords ------------------------------------------------------- In the Chapter 11 cases of Art Van Furniture, LLC, et al, the law firm of Clark Hill PLC submitted a verified statement under Rule 2019 of the Federal Rules of Bankruptcy Procedure, to disclose that it is representing Middlebelt Plymouth Venture LLC, c/o Schostak Brothers & Company, Shelby Corners, LLC, c/o Schostak Brothers & Company, Inc., Agree Limited Partnership, c/o Agree Realty Corporation and Brandon Associates Southgate L.L.C, c/o Mid-America Real Estate- Michigan, Inc. David M. Blau, Esq., an attorney licensed to practice law in the State of Michigan and an attorney with the law firm of Clark Hill PLC. He have personal knowledge of the facts set forth herein and if called as a witness could and would completely testify thereto. David M. Blau, Esq. is the attorney primarily responsible for representing the following creditors in connection with the above entitled case: a. Middlebelt Plymouth Venture LLC, c/o Schostak Brothers & Company, Inc., 17800 Laurel Park Drive North, Suite 200C, Livonia, MI 48152, Landlord and/or managing agent for the following shopping center location: Wonderland Mall - Livonia, MI b. Shelby Corners, LLC, c/o Schostak Brothers & Company, Inc., 17800 Laurel Park Drive North, Suite 200C, Livonia, MI 48152, Landlord and/or managing agent for the following shopping center location: Northpointe Shopping Center – Utica, Michigan c. Agree Limited Partnership, c/o Agree Realty Corporation, 70 E Long Lake Rd., Bloomfield Hills MI 48304, Landlord and/or managing agent for the location: 41661 Ford Rd., Canton, Michigan d. Brandon Associates Southgate L.L.C, c/ Mid-America Real Estate- Michigan, Inc., 38500 Woodward Avenue, Suite 100| Bloomfield Hills, MI 48304, Landlord and/or managing agent for the following shopping center location: Dix-Toledo Shopping Center – Southgate, Michigan Each Landlord is the landlord of either an Art Van or Pure Sleep location. The Landlords currently hold unsecured pre-petition claims, unsecured rejection claims and/or post-petition administrative claims for unpaid rent and other charges. The full amount of each of the Landlords' claims is undetermined at this time. The Landlords have all retained Clark Hill to represent them with respect to their interests in connection with the above captioned case. All parties are being billed on a monthly basis. All parties are aware of Clark Hill's representation of other clients in this matter. All of the Landlords have waived the conflict of interests that might exist between them. Upon information and belief formed after due inquiry, Clark Hill does not own any claims against, or equity interests in, the Debtor. Clark Hill has no written contracts of representation with the Landlords other than ordinary and usual engagement letters. Clark Hill represents each client individually and they do not constitute a committee. If Clark Hill undertakes an additional representation of other clients in this Chapter 11 Case, this statement will be supplemented in accordance with Bankruptcy Rule 2019. The Firm can be reached at: CLARK HILL PLC David M. Blau, Esq. 151 S. Old Woodward Avenue Suite 200 Birmingham, MI 48009 Tel: (248) 988-1817 Fax: (248) 988-2336 E-mail: dblau@clarkhill.com A copy of the Rule 2019 filing, downloaded from PacerMonitor.com, is available at https://is.gd/T0viB7 About Art Van Furniture Art Van is a brick-and-mortar furniture and mattress retailer headquartered in Warren, Michigan. The Company operates 169 locations, including 92 furniture and mattress showrooms and 77 freestanding mattress and specialty locations. The Company does business under brand names, including Art Van Furniture, Pure Sleep, Scott Shuptrine Interiors, Levin Furniture, Levin Mattress, and Wolf Furniture. The Company was founded in 1959 and was owned by its founder, Art Van Elslander, until it was sold to funds affiliated with Thomas H. Lee Partners, L.P. in March 2017. As part of this transaction, THL acquired the operating assets of the Company and certain real estate investment trusts, who closed the transaction alongside THL, acquired the owned real estate portfolio of the Company, and entered into long-term leases with Art Van. The proceeds from the sale-leaseback transaction were used to fund the purchase price paid to the selling shareholders. Art Van Furniture, LLC, and 12 affiliates sought Chapter 11 protection (Bankr. D. Del. Lead Case No. 20-10553) on March 8, 2020. Art Van was estimated to have $100 million to $500 million in assets and liabilities as of the bankruptcy filing. The Hon. Laurie Selber Silverstein is the case judge. The Debtors tapped Benesch, Friedlander, Coplan & Aronoff LLP as counsel. Kurtzman Carson Consultants LLC is the claims agent. AURORA COMMERCIAL: Hires Prime Clerk as Administrative Advisor -------------------------------------------------------------- Aurora Commercial Corp. and its affiliates seek authority from the U.S. Bankruptcy Court for the Southern District of New York to employ Prime Clerk LLC as administrative advisor. The firm will provide services in connection with the Debtors' Chapter 11 cases: a. assist in the solicitation, balloting and tabulation of votes, and prepare any related reports in support of confirmation of a Chapter 11 plan; b. prepare an official ballot certification and, if necessary, testify in support of the ballot tabulation results; c. assist in 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; and e. manage and coordinate any distributions pursuant to a Chapter 11 plan. Prime Clerk will be paid at these hourly rates: Director of Solicitation $210 Solicitation Consultant $190 COO and Executive VP No charge Director $175 - $195 Consultant/Senior Consultant $65 - $165 Technology Consultant $35 - $95 Analyst $30 - $50 Prime Clerk will also be reimbursed for work-related expenses incurred. Benjamin Steele, Esq., a partner at Prime Clerk, assured the court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Benjamin J. Steele Prime Clerk LLC 830 3rd Avenue, 9th Floor New York, NY10022 Tel: (212) 257-5450 Email: bsteele@primeclerk.com About Aurora Commercial Corp. Aurora Commercial Corp. is a wholly-owned subsidiary of Lehman Brothers Holdings Inc. that offers banking, loan servicing, and investor services. Aurora Commercial and its subsidiary Aurora Loan Services LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 19-10843) on March 24, 2019. At the time of the filing, Aurora Commercial estimated assets of $50 million to $100 million and liabilities of less than $50,000. The Debtors tapped Togut, Segal & Segal LLP as their legal counsel, and Prime Clerk, LLC as their claims and noticing agent. The Office of the U.S. Trustee appointed a committee of unsecured creditors on Aug. 13, 2019. The committee is represented by Pierce McCoy, PLLC. AVINGER INC: Receives Noncompliance Notice from Nasdaq ------------------------------------------------------ Avinger, Inc. received a letter from the Listing Qualifications Department of The NASDAQ Stock Market, LLC on March 10, 2020, notifying the Company that the Company was not in compliance with Nasdaq Listing Rule 5550(a)(2), as the minimum bid price for the Company's listed securities was less than $1 for the previous 30 consecutive business days. The Company has a period of 180 calendar days, or until Sept. 8, 2020, to regain compliance with the rule. To regain compliance, during the 180 day period, the bid price of the Company's common stock must close at $1 or more for a minimum of ten consecutive business days. The notice has no present impact on the listing of the Company's securities on Nasdaq. In the event that the Company does not regain compliance with the Nasdaq Listing Rules prior to the expiration of the compliance period, it will receive written notification that its securities are subject to delisting. At that time, the Company may appeal the delisting determination to a hearings panel pursuant to the procedures set forth in the applicable Nasdaq Listing Rules. The Company intends to actively monitor its bid price and will consider available options to resolve the deficiency and regain compliance with the Nasdaq Listing Rules, including conducting a reverse stock split. About Avinger Headquartered in Redwood City, California, Avinger -- http://www.avinger.com/-- designs, manufactures and sells image-guided, catheter-based systems that are used by physicians to treat patients with peripheral artery disease ("PAD"). Avinger reported a net loss applicable to common stockholders of $23.03 million for the year ended Dec. 31, 2019, compared to a net loss applicable to common stockholders of $35.69 million for the year ended Dec. 31, 2018. As of Dec. 31, 2019, the Company had $23.82 million in total assets, $16.93 million in total liabilities, and $6.89 million in total stockholders' equity. Moss Adams LLP, in San Francisco, California, the Company's auditor since 2017, issued a "going concern" qualification in its report dated March 5, 2020, citing that the Company's recurring losses from operations and its need for additional capital raise substantial doubt about its ability to continue as a going concern. BELLEAIR RESERVE: Seeks to Hire David W. Steen as Counsel --------------------------------------------------------- Belleair Reserve Holdings, LLC, seeks authority from the U.S. Bankruptcy Court for the Middle District of Florida to employ David W. Steen, P.A., as counsel to the Debtor. Belleair Reserve requires David W. Steen to represent and provide legal services to the Debtor in the Chapter 11 bankruptcy proceedings. David W. Steen will be paid based upon its normal and usual hourly billing rates. As of the petition date, the Debtor paid David W. Steen the sum of $12,000, of the agreed $15,000 retainer, together with the filing fee of $1,717. David W. Steen will also be reimbursed for reasonable out-of-pocket expenses incurred. David W. Steen, partner of David W. Steen, P.A., assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtors and their/its estates. David W. Steen can be reached at: David W. Steen, Esq. DAVID W. STEEN, P.A. P.O. Box 270394 Tampa, FL 33688-0394 Tel: (813) 251-3000 E-mail: dwsteen@dsteenpa.com About Belleair Reserve Holdings, LLC Belleair Reserve Holdings LLC is a real estate development and full custom home construction company. Belleair Reserve Holdings LLC, based in Tarpon Springs, FL, filed a Chapter 11 petition (Bankr. M.D. Fla. Case No. 20-01160) on February 11, 2020. David W. Steen, Esq., at David W. Steen, P.A., serves as bankruptcy counsel. In its petition, the Debtor estimated $1 million to $10 million in assets and $500,000 to $1 million in liabilities. The petition was signed by Torrey K. Cooper, manager member. BEN DAILEY: U.S. Trustee Unable to Appoint Committee ---------------------------------------------------- The Office of the U.S. Trustee on March 12, 2020, disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of Ben Dailey & Son, LLC. About Ben Dailey & Son Ben Dailey & Son, LLC, sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ga. Case No. 20-61931) on Feb. 2, 2020. At the time of the filing, the Debtor had estimated assets of less than $50,000 and liabilities of between $100,001 and $500,000. Judge Jeffery W. Cavender oversees the case. Paul Reece Marr, P.C. is the Debtor's legal counsel. BL RESTAURANTS: Committee Hires Kelley Drye as Lead Counsel ----------------------------------------------------------- The Official Committee of Unsecured Creditors of BL Restaurants Holding, LLC, and its debtor-affiliates, seeks authorization from the U.S. Bankruptcy Court for the District of Delaware to employ Kelley Drye & Warren LLP, as lead counsel to the Committee. The Committee requires Kelley Drye to: (a) advise the Committee with respect to its rights, duties and powers in these cases; (b) assist and advise the Committee in its consultations with the Debtors in connection with the administration of these cases; (c) assist the Committee in its investigation of the acts, conduct, assets, liabilities, and financial condition of the Debtors; (d) assist the Committee in connection with the proposed sale process; (e) assist the Committee in analyzing the claims of the Debtors' creditors; (f) advise and represent the Committee in connection with matters generally arising in these cases, including the Debtors' financing and the sale of substantially all of the Debtors' assets; (g) appear before this Court, and any other federal, state or appellate court; (h) prepare, on behalf of the Committee, any pleadings, including without limitation, motions, memoranda, complaints, objections, and responses to any of the foregoing; and (i) perform such other legal services as may be required or are otherwise deemed to be in the interests of the Committee in accordance with the Committee's powers and duties as set forth in the Bankruptcy Code, Bankruptcy Rules, or other applicable law. Kelley Drye will be paid at these hourly rates: Partners $705 to $1,245 Special Counsel $585 to $840 Associates $435 to $805 Paraprofessionals $200 to $365 Kelley Drye will also be reimbursed for reasonable out-of-pocket expenses incurred. Jason R. Adams, partner of Kelley Drye & Warren 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 (a) is not creditors, equity security holders or insiders of the Debtors; (b) has not been, within two years before the date of the filing of the Debtors' chapter 11 petition, directors, officers or employees of the Debtors; and (c) does not have an interest materially adverse to the interest of the estate or of any class of creditors or equity security holders, by reason of any direct or indirect relationship to, connection with, or interest in, the Debtors, or for any other reason. Kelley Drye can be reached at: Jason R. Adams, Esq. KELLEY DRYE & WARREN LLP 101 Park Avenue New York, NY 10178 Tel: (212) 808-7800 About BL Restaurants Holding Founded in 1991, BL Restaurants Holding, LLC operates gastrobars at various locations including lifestyle centers, traditional shopping malls, event locations, central business districts and other stand-alone specialty sites. BL Restaurants and three affiliates sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Case No. 20-10156) on Jan. 27, 2020. At the time of the filing, the Debtors were estimated to have assets of between $50 million and $100 million and liabilities of between $100 million and $500 million. The petitions were signed by Howard Meitiner, chief restructuring officer. The Debtors tapped Klehr Harrison Harvey Branzurg LLP as legal counsel; Configure Partners LLC as investment banker; Carl Marks Advisory Group LLC as restructuring advisor; and Epiq Bankruptcy Solutions Inc as notice and claims agent. On Feb. 5, 2020, the Office of the United States Trustee appointed the Official Committee of Unsecured Creditors of BL Restaurants Holding, LLC, and its debtor-affiliates. The Committee retained Kelley Drye & Warren LLP, as lead counsel; Womble Bond Dickinson (US) LLP, as counsel; and Province, Inc., as financial advisor. BL RESTAURANTS: Committee Hires Province as Financial Advisor ------------------------------------------------------------- The Official Committee of Unsecured Creditors of BL Restaurants Holding, LLC, and its debtor-affiliates, seeks authorization from the U.S. Bankruptcy Court for the District of Delaware to employ Province, Inc., as financial advisor to the Committee. The Committee requires Province to: a. become familiar with and analyzing the Debtors' DIP budget, assets and liabilities, and overall financial condition; b. review financial and operational information furnished by the Debtors to the Committee; c. monitor the sale process, reviewing bidding procedures, stalking horse bids, APAs, interfacing with the Debtors' professionals, and advising the Committee regarding the process; d. scrutinize the economic terms of various agreements, including, but not limited to, the Debtors' critical vendor motions and various professional retentions; e. analyze the Debtors' proposed business plans and developing alternative scenarios, if necessary; f. assess the Debtors' various pleadings and proposed treatment of unsecured creditor claims therefrom; g. prepare, or review as applicable, avoidance action and claim analyses; h. assist the Committee in reviewing the Debtors' financial reports, including, but not limited to, SOFAs, Schedules, cash budgets, and Monthly Operating Reports; i. advise the Committee on the current state of these chapter 11 cases; j. advise the Committee in negotiations with the Debtors and third parties as necessary; k. if necessary, participating as a witness in hearings before the bankruptcy court with respect to matters upon which Province has provided advice; and l. other activities as are approved by the Committee, the Committee's counsel, and as agreed to by Province. Province will be paid at these hourly rates: Principal $800 to 935 Managing Director $660 to 720 Senior Director $580 to 640 Director $500 to 570 Senior Associate $400 to 490 Associate $350 to 400 Analyst $230 to 350 Para Professional $175 Province will also be reimbursed for reasonable out-of-pocket expenses incurred. Sanjuro Kietlinski, managing director of Province, 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 (a) is not creditors, equity security holders or insiders of the Debtors; (b) has not been, within two years before the date of the filing of the Debtors' chapter 11 petition, directors, officers or employees of the Debtors; and (c) does not have an interest materially adverse to the interest of the estate or of any class of creditors or equity security holders, by reason of any direct or indirect relationship to, connection with, or interest in, the Debtors, or for any other reason. Province can be reached at: Sanjuro Kietlinski PROVINCE, INC. 2360 Corporate Circle, Suite 330 Henderson, NV 89074 Tel: (702) 685-5555 About BL Restaurants Holding Founded in 1991, BL Restaurants Holding, LLC, operates gastrobars at various locations including lifestyle centers, traditional shopping malls, event locations, central business districts and other stand-alone specialty sites. BL Restaurants and three affiliates sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Case No. 20-10156) on Jan. 27, 2020. At the time of the filing, the Debtors were estimated to have assets of between $50 million and $100 million and liabilities of between $100 million and $500 million. The petitions were signed by Howard Meitiner, chief restructuring officer. The Debtors tapped Klehr Harrison Harvey Branzurg LLP as legal counsel; Configure Partners LLC as investment banker; Carl Marks Advisory Group LLC as restructuring advisor; and Epiq Bankruptcy Solutions Inc as notice and claims agent. On Feb. 5, 2020, the Office of the United States Trustee appointed the Official Committee of Unsecured Creditors of BL Restaurants Holding, LLC, and its debtor-affiliates. The Committee retained Kelley Drye & Warren LLP, as lead counsel; Womble Bond Dickinson (US) LLP, as counsel; and Province, Inc., as financial advisor. BL RESTAURANTS: Committee Hires Womble Bond as Counsel ------------------------------------------------------ The Official Committee of Unsecured Creditors of BL Restaurants Holding, LLC, and its debtor-affiliates, seeks authorization from the U.S. Bankruptcy Court for the District of Delaware to employ Womble Bond Dickinson (US) LLP, as counsel to the Committee. The Committee requires Womble Bond to: a. provide legal advice as necessary with respect to the Committee's powers and duties as an official committee appointed under Bankruptcy Code section 1102; b. assist the Committee in investigating the acts, conduct, assets, liabilities, and financial condition of the Debtor, the operation of the Debtor's businesses, potential claims, and any other matters relevant to the case, to the sale of assets, or to the formulation of a plan of reorganization or liquidation (a "Plan"); c. participate in the formulation of a Plan; d. provide legal advice as necessary with respect to any disclosure statement and Plan filed in these Chapter 11 Cases and with respect to the process for approving or disapproving disclosure statements and confirming or denying confirmation of a Plan; e. prepare on behalf of the Committee, as necessary, applications, motions, objections, complaints, answers, orders, agreements, and other legal papers; f. appear in Court to present necessary motions, applications, objections, and pleadings, and otherwise protecting the interests of those represented by the Committee; g. assist the Committee in requesting the appointment of a trustee or examiner, should such action be necessary; and h. perform such other legal services as may be required and as are in the best interests of the Committee and creditors. Womble Bond will be paid at these hourly rates: Partners $325 to $925 Of Counsel $330 to $890 Senior Counsel $125 to $750 Counsel $100 to $650 Associates $255 to $710 Paralegals $50 to $475 Womble Bond will also be reimbursed for reasonable out-of-pocket expenses incurred. Matthew P. Ward, partner of Womble Bond Dickinson (US) 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 (a) is not creditors, equity security holders or insiders of the Debtors; (b) has not been, within two years before the date of the filing of the Debtors' chapter 11 petition, directors, officers or employees of the Debtors; and (c) does not have an interest materially adverse to the interest of the estate or of any class of creditors or equity security holders, by reason of any direct or indirect relationship to, connection with, or interest in, the Debtors, or for any other reason. Womble Bond can be reached at: Matthew P. Ward, Esq. WOMBLE BOND DICKINSON (US) LLP 1313 North Market Street, Suite 1200 Wilmington, Delaware 19801 Tel: (302) 252-4320 Fax: (302) 252-4330 E-mail: matthew.ward@wbd-us.com About BL Restaurants Holding Founded in 1991, BL Restaurants Holding, LLC operates gastrobars at various locations including lifestyle centers, traditional shopping malls, event locations, central business districts and other stand-alone specialty sites. BL Restaurants and three affiliates sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Case No. 20-10156) on Jan. 27, 2020. At the time of the filing, the Debtors were estimated to have assets of between $50 million and $100 million and liabilities of between $100 million and $500 million. The petitions were signed by Howard Meitiner, chief restructuring officer. The Debtors tapped Klehr Harrison Harvey Branzurg LLP as legal counsel; Configure Partners LLC as investment banker; Carl Marks Advisory Group LLC as restructuring advisor; and Epiq Bankruptcy Solutions Inc as notice and claims agent. On Feb. 5, 2020, the Office of the United States Trustee appointed the Official Committee of Unsecured Creditors of BL Restaurants Holding, LLC, and its debtor-affiliates. The Committee retained Kelley Drye & Warren LLP, as lead counsel; Womble Bond Dickinson (US) LLP, as counsel; and Province, Inc., as financial advisor. BLUE RIDGE SITE: To Seek Plan Confirmation April 16 --------------------------------------------------- Judge Stephani W. Humrickhouse has ordered that the disclosure statement explaining the Chapter 11 plan filed by Blue Ridge Site Development Corporation of NC is conditionally approved. April 13, 2020 is fixed as the last day for filing and serving written objections to the Disclosure Statement. The hearing on confirmation of the Plan will be on Thursday, April 16, 2020 at 10:30 a.m. in Room 208, 300 Fayetteville Street, Raleigh, NC 27602. April 13, 2020 is fixed as the last day for filing written acceptances or rejections of the Plan. April 13, 2020 is fixed as the last day for filing and serving written objections to confirmation of the Plan. About Blue Ridge Site Blue Ridge Site Development Corporation of NC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.C. Case No.19-04528) on Oct. 1, 2019. At the time of the filing, the Debtor disclosed assets of between $500,001 and $1 million and liabilities of the same range. Judge Stephani W. Humrickhouse oversees the case. The Debtor is represented by Danny Bradford, Esq., at Paul D. Bradford, PLLC. BRUCE ELIEFF: Warburton Buying Yorba Linda Property for $1M ----------------------------------------------------------- Bruce Elieff asks the U.S. Bankruptcy Court for the Central District of California to (i) authorize both the sale of his and Stephan Elieff's respective 50% tenant in common interests in that certain residential real property located at 20055 Via Monita, Yorba Linda, California, to Jacqueline Warburton for $1 million, subject to overbid; (ii) approve the form of the sale agreement between the Debtor and Stephan Elieff as the Sellers and the Proposed Buyer; and (iii) approve the proposed overbid procedures and the form of the proposed sales procedures notice to to be sent to parties potentially interested in submitting competing bids to the Sellers. In the Amended Schedules filed on Nov. 25, 2019, the Debtor listed himself as 50% tenant in common interest holder with his brother Stephan Eleiff in the Property. The Debtor valued his 50% tenant in common interest in the Property at $525,000 and asserted that there was $485,056 in liens secured by the Property. On Feb. 3, 2020, the Debtor and his brother, as the Sellers, and the Proposed Buyer entered into their Sale Agreement whereby the Proposed Buyer would purchase Sellers entire interest in the Property for $1 million subject to the Court's approval. Prior to the date of the filing of the Motion, the Debtor and his brother had entered into a listing agreement with Daniel De Yo of Berkshire Hathaway Home Services for the Property. At such time the Broker had believed that the potential range of the fair market of the Property was between $1.05 million and $1.15 million. The listing agreement provided a listing price of $1.15 million for the Property. The Broker listed the Property on the MLS and several other internet websites, and had initially, informally, and more recently, formally, marketed the Property. The Broker has maintained a list of all interested parties who have responded to the marketing of the Property over the past several weeks. Further, the Broker has continued to market the Property for the purpose of soliciting potential overbids to ensure obtaining a price commensurate with the Property’s fair market value and will continue to do so until the bid deadline for submitting overbids has occurred on March 2, 2020. In order to obtain the highest and best offer for the benefit of the creditors of the estate, the Debtor proposes that the foregoing Sale Agreement be subject to overbid. Notice is being provided of the opportunity for overbidding to all interested parties in thematter. As part of its Overbid Procedure proposal, the Debtor has suggested providing the Sale Procedures Notice to all potential interested buyers of the Property detailing (i) the Sellers' intent to sell the Property, (ii) the existing offer of $1 million from the Proposed Buyer, and (iii) the sale process for submitting competing bids for parties interested in purchasing the Property. The Sales Procedures Notice will set forth the following sale process: a) The initial overbid must be at least $1.01 million in order to constitute a Qualified Bid. b) Each Qualifying Bid must be received by the Debtors Financial Advisor, Brian Weiss, of Force Ten Partners, LLC, at 20341 SW Birch, Suite 220, Newport Beach, CA 92660; e-mail: bweiss@force10partners.com, by no later than 5:00 p.m. on March 2, 2020, and must be accompanied by an earnest money deposit of $20,000. Said deposit must be in the form of a cashier’s check made payable to Bruce Eleiff, Debtor and Debtor in Possession, and must be deposited with the Debtor through its financial advisor so that the Debtor has access to said funds by the Bid Deadline. c) Each subsequent overbid must be made in minimum increments of at least $10,000 and must be made orally at the hearing at the Motion for approval of the Sale Agreement. d) Should a bidder fail to qualify for financing or timely close escrow, the $20,000 deposit is non-refundable. An order authorizing Debtor to employ the Broker as his real estate agent to market and sell the Property was submitted to the Court on Feb. 13, 2020. Through the Motion, the Debtor asks to compensate the Broker in an amount not greater than 5% of the Purchase Price or applicable overbid, which will be shared with the Proposed Buyers' broker, if any, provided that the estate nets a like amount and upon entry of an order approving the Motion. The Debtor and his brother have unfortunately lost money on their investment in the Property. Therefore, Its has been determined that the sale of the Property will not result in a capital gains tax. The Debtor’s own analysis has been confirmed by his financial adviory firm. The Debtor asks authority to distribute the net sale proceeds as follows: a) For normal escrow and closing costs, including pro-rated real estate taxes, if any; b) To Daniel De Yo, Broker, an amount not greater than 5% of the sale price, in accordance with the terms of the Order employing the Broker. The commission will be divided equally between the Debtor's Broker and the agent for the Proposed Buyer, if any; c) To Bank of America, as servicing agent for the Bank of New York Mellon, as Trustee for the Certificate Holders of CWMBS, Inc., CHL Mortgage Pass-Through Trustee 2005-02, Mortgage Pass-Through Certificates, Series 2005-02, the holder of the Trust Deed, the amount due under the Trust Deed, subject to the Debtor’s review and approval of the payoff demand; d) 50% of the net equity to Stephan Elieff on account of his 50% tenant in common interest in the Property; and e) All alleged involuntary and disputed liens of the IRS and Todd Kurtin will attach to the proceeds to be held in a segregated debtor in possession account. Time is of the essence on the Purchase Agreement so that the Proposed Buyers can immediately complete the sale. Accordingly, the Debtors ask that the Court waives the stay imposed by Rule 6004(h). A hearing on the Motion is set for March 5, 2020 at 10:30 a.m. A copy of the Agreement is available at https://tinyurl.com/su35okg from PacerMonitor.com free of charge. About Bruce Elieff Bruce Elieff sought protection under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Cal. Case No. 19-13858) on Oct. 2, 2019. The Debtor tapped Couchot Law, LLP, as its legal counsel. BRUCE ELIEFF: Warmuth Buying Rancho Mirage Property for $2.45M -------------------------------------------------------------- Bruce Elieff and 4627 Camden, LLC, ask the U.S. Bankruptcy Court for the Central District of California to authorize the sale to Chris J. Warmuth and Mary Anne Fontana, in their capacities as the Co-Trustees of the Warmuth Living Trust Dated Dec. 20, 2005, of (i) Camden's 100% ownership interest in the residential real property located at 2 Mirada Circle, Rancho Mirage, California for $2.4 million, and (ii) Elieff's 100% ownership interest in all indoor/outdoor furnishings including all audio/video equipment, gym equipment and TV's (excluding kitchenware and any wall hangings/paintings of Elieff's choice) for $50,000, free and clear of liens, subject to overbid. In the Amended Schedules filed on Nov. 25, 2019, Camden listed its 100% ownership interest in Real Property. Camden valued its interest in the Real Property at $2,686,061 and indicated that there is a $36,766 statutory tax lien secured by the Real Property. In addition, the Amended Schedules listed a lien asserted by Todd Kurtin, which Camden disputes in the Amended Schedules, and which is subject of an Adversary Proceeding bearing Adv. Case No. 8:19-ap-01205-ES, for, among other things, subordination under Bankruptcy Code Section 510(b) and disallowance under Section 502(d). Elieff's Amended Schedules filed on Nov. 25, 2019, list 100% ownership interest in the Personal Property. On Feb. 6, 2020, Camden and Elieff, as the Sellers, and the Proposed Buyers entered into a purchase and sale agreement whereby the Proposed Buyers would purchase the Sellers' entire interest in the Property for $2.45 million, subject to the Court's approval. Of the Purchase price, $50,000 was allocated to the Personal Property furnishings belong to the Elieff estate. Prior to the date of the filing of the Motion, Camden had entered into a listing agreement with Craig Chorpenning of Pacific Sotheby's International Realty for the Real Property. At such time the Broker had believed that the potential range of the fair market of the Real Property was between $2.7 million and $2,995,000. The listing agreement provided an initial listing price of $2.9 million for the Real Property. The Broker has maintained a list of all interested parties who have responded to the marketing of the Real Property over the past several weeks. As a result, there is a pool of potential parties identified by the Broker who have expressed an interest in the Real Property that could be persons that could potentially submit overbids. Further, the Broker has continued to market the Real Property for the purpose of soliciting potential overbids to ensure obtaining a price commensurate with the Real Property's fair market value and will continued to due so until the March 2, 2020 bid deadline for submitting overbids. In order to obtain the highest and best offer for the benefit of the creditors of the estates, the Debtors propose that the foregoing Sale Agreement be subject to overbid. Notice is being provided of the opportunity for overbidding to all interested parties in the matter. As part of its Overbid Procedure proposal, the Debtors have suggested providing the Sale Procedures Notice to all creditors and potential interested buyers of the Property detailing (i) the Debtors' intent to sell the Property, (ii) the existing offer of $2.45 million from the Proposed Buyers to purchase both the Real Property and the Personal Property, and (iii) the sale process for submitting competing bids for parties interested in purchasing the Property. The Sales Procedures Notice will set forth the following sale process: a) The initial overbid must be at least $2.475 million in order to constitute a Qualified Bid. b) Each Qualifying Bid must be received by Elieffs Financial Advisor, Brian Weiss of Force Ten Partners, LLC, at 20341 SW Birch, Suite 220, Newport Beach, CA 92660; e-mail: bweiss@force10partners.com, by no later than 5pm on March 2, 2020, and must be accompanied by an earnest money deposit of $72,500. Said deposit must be in the form of a cashier's check made payable to Bruce Elieff, Debtor and Debtor in Possession, and must be deposited with Elieff through his financial advisor so that the Debtors have access to said funds by the Bid Deadline. c) Each subsequent overbid must be made in minimum increments of at least $25,000 and must be made orally at the hearing at the Motion for approval of the Sale Agreement. d) Should a bidder fail to qualify for financing or timely close escrow, the $72,500 deposit is non-refundable. An order authorizing Camden to employ the Broker as its real estate agent to market and sell the Real Property was submitted to the Court on Feb. 13, 2020. Through the Motion, the Debtor asks to compensate the Broker in an amount not greater than 5% of the Purchase Price or applicable overbid, which will be shared with the Proposed Buyers' broker, if any, provided that the estate nets a like amount and upon entry of an order approving the Motion. Unfortunately, Camden lost money on its investment in the Property and, therefore, the sale will not result in a capital gains tax. The Debtors ask authority to distribute the net sale proceeds as follows: a) For normal escrow and closing costs, including pro-rated real estate taxes, if any; b) To Craig Chorpenning, Broker, an amount not greater than 5% of the sale price, in accordance with the terms of the Order employing the Broker. The commission will be divided equally between the Debtor’s Broker and the agent for the Proposed Buyers, if any; c) To the Elieff Estate for the proceeds of the sale of the Personal Property; and d) The alleged disputed lien of Todd Kurtin will attach to the proceeds to be held in a segregated DIP account for the Camden estate. Time is of the essence on the Purchase Agreement so that the Proposed Buyers can immediately complete the sale. Accordingly, the Debtors ask that the Court waives the stay imposed by Rule 6004(h). A hearing on the Motion is set for March 5, 2020 at 10:30 a.m. A copy of the Agreement is available at https://tinyurl.com/u2wmgss from PacerMonitor.com free of charge. About Bruce Elieff Bruce Elieff sought protection under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Cal. Case No. 19-13858) on Oct. 2, 2019. The Debtor tapped Couchot Law, LLP, as its legal counsel. CADIZ INC: Reports $29.5 Million Net Loss for 2019 -------------------------------------------------- Cadiz Inc. filed with the Securities and Exchange Commission its Annual Report on Form 10-K reporting a net loss and omprehensive loss of $29.53 million on $441,000 of total revenues for the year ended Dec. 31, 2019, compared to a net loss and comprehensive loss of $26.27 million on $440,000 of total revenues for the year ended Dec. 31, 2018. The Company had working capital of $11.3 million at Dec. 31, 2019 and used cash in operations of $13.7 million for the year ended Dec. 31, 2019. Cash requirements during the year ended Dec. 31, 2019 primarily reflect certain administrative costs related to the Company's water project development efforts. Currently, the Company's sole focus is the development of its land and water assets. As of Dec. 31, 2019, the Company had $76.72 million in total assets, $158.84 million in total liabilities, and a total stockholders' deficit of $82.12 million. Cadiz said, "Limitations on the Company's liquidity and ability to raise capital may adversely affect it. Sufficient liquidity is critical to meet the Company's resource development activities. Although the Company currently expects its sources of capital to be sufficient to meet its near-term liquidity needs, there can be no assurance that its liquidity requirements will continue to be satisfied. If the Company cannot raise needed funds, it might be forced to make substantial reductions in its operating expenses, which could adversely affect its ability to implement its current business plan and ultimately impact its viability as a company." A full-text copy of the Form 10-K is available for free at: https://is.gd/lfDL75 About Cadiz Founded in 1983 and headquartered in Los Angeles, California, Cadiz Inc. -- http://www.cadizinc.com/-- is a publicly held natural resources company that owns 70 square miles of property with significant water resources in Southern California. The Company is the largest agricultural operation in San Bernardino, California, where it has sustainably farmed since the 1980s, and is partnering with public water agencies to implement the Cadiz Water Project, which over two phases will create a new water supply for approximately 400,000 people and make available up to 1 million acre-feet of new groundwater storage capacity for the region. CAMERON TRANSPORT: Case Summary & 20 Largest Unsecured Creditors ---------------------------------------------------------------- Debtor: Cameron Transport Corp. 2821 Pine Avenue Niagara Falls, NY 14301 Business Description: Cameron Transport Corp. is a transportation company in Niagara Falls, NY. Chapter 11 Petition Date: March 17, 2020 Court: United States Bankruptcy Court Western District of New York Case No.: 20-10454 Judge: Hon. Carl L. Bucki Debtor's Counsel: Robert R. Radel, Esq. ROBERT R. RADEL, ATTORNEY AT LAW 174 Franklin Street Buffalo, NY 14202 Tel: (716) 322-0980 E-mail: RobertRRadelEsq@MSN.com Total Assets: $1,319,426 Total Liabilities: $2,239,182 The petition was signed by Faisel Haruna, 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/bQ1Giy CAPSTONE OILFIELD: Obtains Interim OK to Use Cash Collateral ------------------------------------------------------------ Judge Janice D. Loyd authorized Capstone Oilfield Disposal Services, LLC to use cash collateral, on an interim basis, pursuant to a budget submitted with the Court. The Debtor has sought permission from the Bankruptcy Court to use cash collateral to pay normal operating expenses so as to maintain its current business operations. Secured creditors who may have interest in the cash collateral are (a) Interbank with, holding a claim of approximately $13,000,000 secured by substantially all of Debtor's assets and proceeds therefrom, and (b) Community State Bank with a claim of approximately $300,000 secured by the Debtor's interest in the Berkenbile Disposal Well located in Kingfisher, Oklahoma. A copy of the motion is available for free at: https://is.gd/Dy0Epz from PacerMonitor.com. Pursuant to the interim order, Judge Loyd directed the Debtor to maintain a DIP account at Bank of Oklahoma and to account to Interbank for all cash collateral. As partial adequate protection, Interbank is granted, effective as of the Petition Date, valid, binding, enforceable, and automatically perfected liens co-extensive with Interbank's pre-petition liens in all currently owned or hereafter acquired property and assets of the estate, to the extent of any decrease in value of the collateral or cash collateral. The Court has set a final hearing on the motion on March 18, 2020, at 2:00 p.m. Central time. About Capstone Oilfield Capstone Oilfield Disposal Services, LLC, with place of business in Hennessey, Oklahoma, sought Chapter 11 protection (Bankr. W.D. Okla. Case No. 20-10461) on Feb. 14, 2020. In the petition signed by Randy Holder, owner/managing member, the Debtor reported $10,058,603 in total assets and $14,158,390 in total liabilities. Stephen J. Moriarty, Esq., of Fellers, Snider et al., represents the Debtor as counsel. CARE FOR YOU: Seeks to Hire Roderick Linton as Bankruptcy Counsel ----------------------------------------------------------------- Care For You Home Health Care Agency, LLC seeks authority from the U.S. Bankruptcy Court for the Northern District of Ohio to hire Roderick Linton Belfance, LLP to handle its Chapter 11 case. As legal counsel, Roderick Linton will: (a) advise the Debtor of its powers and duties in the continued operation of its business; (b) advise the Debtor on bankruptcy-related matters; (c) prepare legal papers and represent the Debtor at all hearings; (d) prosecute and defend litigated matters; and (e) advise the Debtor on other legal matters. Roderick Linton will be paid at these hourly rates: Attorneys $275 to $310 Associates $225 to $290 Paralegals $100 to $165 Steven Heimberger, Esq., and Kyle Cramer, Esq., the firm's attorneys who are expected to handle the case, will charge $275 per hour and $225 per hour. The Debtor paid Roderick Linton an initial retainer of $7,500 and will reimburse the firm for work-related expenses incurred. Mr. Heimberger assured the court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. Roderick Linton can be reached at: Steven J. Heimberger, Esq. Roderick Linton Belfance, LLP 50 South Main Street, Suite 1000 Akron, OH 44308 Tel: (330) 431-3000 Email: sheimberger@rlbllp.com About Care For You Home Health Care Agency Care For You Home Health Care Agency, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ohio Case No. 20-50257) on Jan. 31, 2020, listing under $1 million in both assets and liabilities. Judge Alan M. Koschik oversees the case. Steven J. Heimberger, Esq., at Roderick Linton Belfance, LLP, is the Debtor's legal counsel. CARMEL MEDICAL: Says $8 Million Sale to Pay Claims in Full ---------------------------------------------------------- Carmel Medical Office Building, LLC, filed a Chapter 11 Plan that provides for a liquidation of the Debtor's assets, primarily its 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 herein indicated should lead to the receipt of an offer. According to the Disclosure Statement, the Plan treats claims as follows: * Class 1: Administrative Claims. Normal budgeted expenses of the Debtor will be paid in the ordinary course of business. Administrative expense claims shall be paid in full within 30 days of being incurred or court approval. * The Secured Claims of CIBM Bank in Class 3 totals $4,226,877 as of the Petition Date. The Secured Claim of MIG Guilford Reserves LLC in Class 4 totals $400,000 as of the Petition Date. The Secured Claim of Vasey Commercial Heating & Air Conditioning in Class 4 totals $32,680 as of the Petition Date. The Allowed Secured Claims of Classes 3, 4, and 5 be paid in full at the time of a closing of the sale of the property worth no less than $8,000,000. * Class 6 Unsecured Non-Priority Claims total approximately $96,371 amongst 29 claimants. The unsecured creditors in this class will receive a pro rata share of any funds remaining from the sale of the Real Property after the payment of all secured claims. 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 consist of the allowed unsecured deficiency claims. Class 7 claims shall 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. * The Oaks at Baylor Apartments Partners in Class 8 is subject to avoidance pursuant to Sec. 5548; nevertheless, the Debtor will permit the Oaks to be paid up to the amount of its mortgage ($200,000) after payment of higher priority classes first. * Carmel Investment Group, LLC, the equity holder in Class 9, will receive any funds remaining after payment in full of all classes above. Until such senior classes are paid in full, Carmel Investment will not take any distributions. A full-text copy of the Disclosure Statement dated March 2, 2020, is available at https://tinyurl.com/v2pepwt 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 jallman@hbkfirm.com About Carmel Medical Office Building Carmel Medical Office Building, LLC, is a Single Asset Real Estate Debtor, as defined in 11 U.S.C. Section 101(51B). The Company owns in fee simple a real property located at 10601 North Meridian Street Indianapolis, having a current value of $5.3 million (based on offer received in 2019). Carmel Medical Office Building, based in Carmel, IN, 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. CENTRAL PALM BEACH SURGERY: Taps GlassRatner as Financial Advisor ----------------------------------------------------------------- Central Palm Beach Surgery Center Ltd. and CPBS Management LLC seek approval from the U.S. Bankruptcy Court for the Southern District of Florida to hire GlassRatner Advisory & Capital Group, LLC, as their financial advisor. The professional services GlassRatner will render are: a. advise the Debtors of their powers and duties in the continued management of their business operations; b. advise the Debtors concerning their finances and guide them in making financial decisions; c. prepare financial documents; d. protect the financial interests of the Debtors in all matters pending before the court; e. provide financial advice to the Debtors in negotiation with their creditors and in the preparation of a Chapter 11 plan. The firm's customary hourly rates are: Alan Barbee, Principal $475 Craig Jacobson, Senior Managing Director $515 Senior Managing Directors $375 - $395 Directors/Managing Directors $295 - $335 Associates $225 - $295 GlassRatner does not represent any interest adverse to the Debtors, according to court filings. The firm can be reached through: Alan R. Barbee, CPA, Glass Ratner Advisory & Capital Group, LLC 1400 Centrepark Boulevard, Suite 860 West Palm Beach, FL 33401 Phone: 561-657-4900 Email: abarbee@glassratner.com About Central Palm Beach Surgery Center Central Palm Beach Surgery Center Ltd. and CPBS Management LLC, owners of an ambulatory surgery center in West Palm Beach, Fla., filed voluntary petitions under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Lead Case No. 20-11127) on Jan. 28, 2020. The petitions were signed by Jonathan Cutler, authorized member. Central Palm disclosed $7,115,518 in assets and $12,270,801 in liabilities. Judge Mindy A. Mora oversees the cases. Robert C. Furr, Esq., at Furr & Cohen, P.A., is the Debtors' legal counsel. CLEVELAND STREET: Voluntary Chapter 11 Case Summary --------------------------------------------------- Debtor: Cleveland Street Beach Lofts, LLC 626 2nd St Encinitas, CA 92024-3560 Business Description: Cleveland Street Beach Lofts is a Single Asset Real Estate debtor (as defined in 11 U.S.C. Section 101(51B)), whose principal assets are located at 314 N Cleveland St Oceanside, CA 92054-2529. Chapter 11 Petition Date: March 15, 2020 Court: United States Bankruptcy Court Southern District of California Case No.: 20-01448 Judge: Hon. Margaret M. Mann Debtor's Counsel: Judith A. Descalso, Esq. LAW OFFICE OF JUDITH A. DESCALSO 960 Canterbury Pl Ste 340 Escondido, CA 92025-3870 Tel: (760) 745-8380 E-mail: jad@jdescalso.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by James Simcoe, manager. The Debtor failed to include in the petition a list of its 20 largest unsecured creditors at the time of the filing. A copy of the petition is available for free at PacerMonitor.com at: https://is.gd/b3LBHW COCRYSTAL PHARMA: Closes $6.8 Million Registered Direct Offering ---------------------------------------------------------------- Cocrystal Pharma, Inc., has closed its previously announced registered direct offering with several institutional investors for 5,037,038 shares of its common stock at a purchase price of $1.35 per share, priced at-the-market under Nasdaq rules. The gross proceeds to the Company from the offering totaled approximately $6.8 million, before deducting placement agent fees and offering expenses. H.C. Wainwright & Co. acted as the exclusive placement agent for the offering. Cocrystal intends to use the net proceeds for working capital and other general corporate purposes. The shares of common stock were offered by Cocrystal Pharma pursuant to a shelf registration statement on Form S-3 (No. 333-220632), which was previously declared effective by the Securities and Exchange Commission. A final prospectus supplement and the accompanying prospectus relating to the shares of common stock were filed by Cocrystal with the SEC and can be obtained at the SEC's website at www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying prospectus relating to the registered direct offering may also be obtained by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, New York, NY 10022, by email at placements@hcwco.com or by phone at (646) 975-6996. About Cocrystal Pharma Headquartered in Creek Parkway Bothell, WA, Cocrystal Pharma, Inc. -- http://www.cocrystalpharma.com/-- is a clinical stage biotechnology company discovering and developing novel antiviral therapeutics that target the replication machinery of influenza viruses, hepatitis C viruses, noroviruses, and coronaviruses. 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. COLUMBIA NUTRITIONAL: Committee Objects to DIP Motion ----------------------------------------------------- The Official Committee of Unsecured Creditors of Columbia Nutritional, LLC, in a response to the Debtor's motion to obtain DIP financing and access to cash collateral, seeks, among others, that the provision in the interim order as to waiver of any rights under the loan document, or any like paragraph in any final order(s) be amended to affirmatively state that no final order acts as a waiver of the Committee's rights as outlined. The Committee also complained that it found no line item in any of the budgets submitted by the Debtor related to the costs and expenses of the DIP lenders, when the DIP credit agreement provides that the Debtor "agrees to pay or reimburse the lender for all its documented out-of-pocket costs and expenses incurred in connection with the development, preparation and execution of, and any amendment, supplement or modification to, [the credit agreement]..." A copy of the Committee's response is available at https://is.gd/VGItky from PacerMonitor.com free of charge. About Columbia Nutritional Columbia Nutritional, LLC -- https://www.columbianutritional.com/ -- is a contract manufacturer of dietary supplements based in the Pacific Northwest. Columbia Nutritional filed a voluntary petition under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Wa. Case No. 20-40353) on Feb. 6, 2020. In the petition signed by COO Brea Viratos, the Debtor was estimated to have $1 million to $10 million in assets and $10 million to $50 million in liabilities. Judge Brian D. Lynch oversees the case. Thomas W. Stilley, Esq., at Sussman Shank LLP, serves as the Debtor's legal counsel. COLUMBIA NUTRITIONAL: Has Interim Nod to Borrow DIP Funds, Use Cash ------------------------------------------------------------------- Columbia Nutritional, LLC asked Judge Brian D. Lynch's permission to obtain a secured postpetition financing of up to $400,000 from Bruce Rhine and Reid Langrill, with an initial draw of $250,000 and subsequent draws of at least $50,000 each available on an interim basis between the date of entry of the interim DIP order and entry of a final DIP order. Outstanding advances under the DIP facility will bear interest at the applicable rate of 8% per annum. Default interest rate is the applicable rate, plus 2%. The DIP facility: (a) will mature on the earliest to occur of (i) the scheduled maturity date, (ii) the effective date of a confirmed plan of reorganization, (iii) conversion of the Debtor's case to Chapter 7 of the Bankruptcy Code, and (iv) dismissal of the case. (b) will be secured by perfected secured liens on (i) all pre-petition and post-petition receivables and related contracts and the proceeds thereof, and (ii) all other tangible and intangible property of Debtor, excluding any avoidance actions and the proceeds thereof. (c) will be used for working capital to fund payroll and other general expenses of Debtors during the pendency of their Chapter 11 cases. The Debtor proposed to grant the DIP lender super priority administrative claims in the Chapter 11 case. The Debtor also asked permission to use the cash collateral of Columbia State Bank, Bruce Rhine, and the DIP lender, and any other person claiming an interest in cash collateral pursuant to Section 363(c) of the Bankruptcy Code, to pay necessary operating expenses, including payroll, rent, inventory purchases, supplies, taxes, professional fees, U.S. Trustee fees, and for other general business purposes. The Debtor disclosed that pre-petition lenders CBS and Rhine assert secured claims in the combined amount of approximately $6,456,669. A copy of the motion is available for free at https://is.gd/rNdQ7W from PacerMonitor.com. Judge Lynch approved the Debtor's DIP motion, on an interim basis, as well as the terms and provisions of the DIP loan documents. The Court also authorized the Debtor to use cash collateral pursuant to the budget until March 13, 2020, unless earlier terminated. The Court ruled that, as adequate protection: (a) the Debtor will make a monthly adequate protection payment to CSB in the amount of $50,000, which payment will be due upon entry of the interim order for the February 2020 payment and thereafter on the 10th day of each month, commencing March 2020; (b) CSB and Rhine are granted continuing valid, binding, enforceable, and perfected post-petition liens on all property of the Debtor in which they held pre-petition liens, with the same priority as their prepetition liens had in said property; (c) CSB and Rhine will have administrative expense claims under Section 503(b) of the Bankruptcy Code that will have super priority under Section 507(b) of the Bankruptcy Code. A copy of the interim DIP order at https://is.gd/voV7F1 and of the cash collateral order, with the approved budget at https://is.gd/lo5FKE may be accessed from PacerMonitor.com at no charge. About Columbia Nutritional Columbia Nutritional, LLC -- https://www.columbianutritional.com/ -- is a contract manufacturer of dietary supplements based in the Pacific Northwest. Columbia Nutritional filed a voluntary petition under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Wa. Case No. 20-40353) on Feb. 6, 2020. In the petition signed by COO Brea Viratos, the Debtor was estimated to have $1 million to $10 million in assets and $10 million to $50 million in liabilities. Judge Brian D. Lynch oversees the case. Thomas W. Stilley, Esq., at Sussman Shank LLP, serves as the Debtor's legal counsel. CONCRETE GUYS: Kapitus Seeks to Prohibit Debtor Cash Access ----------------------------------------------------------- Strategic Funding Source, Inc., d/b/a Kapitus, asked the Bankruptcy Court to prohibit Concrete Guys Inc., from using the cash collateral. SFS complained that the Debtor is improperly using its collateral and is not providing SFS with adequate protection for the cash collateral use. SFS also complained that the Debtor is improperly using non-estate assets. Pursuant to a revenue based factoring agreement dated December 14, 2017 between the Debtor and SFS, SFS purchased certain of the Debtor's accounts receivable. SFS holds a valid and properly perfected first priority security interest in all of the Debtor's personal property. Accordingly, SFS asks the Court to prohibit the Debtor's continued use of the collateral to the extent the Debtor has failed to provide adequate protection. About Concrete Guys Concrete Guys Inc., filed a Chapter 11 bankruptcy petition (Bankr. N.D. Ill. Case No. 19-30071) on Oct. 22, 2019, disclosing under $1 million in both assets and liabilities. The Debtor is represented by Peter C. Nabhani, partner of the Law Office of Peter C. Nabhani. COUNTRYSIDE FUNERAL: Case Summary & 11 Unsecured Creditors ---------------------------------------------------------- Debtor: Countryside Funeral Home LLC 420 S 20th St Fredonia, KS 66736-1700 Business Description: Countryside Funeral Home LLC owns in fee simple seven properties in Kansas having an aggregate current value of $1.21 million. Chapter 11 Petition Date: March 16, 2020 Court: United States Bankruptcy Court District of Kansas Case No.: 20-10330 Judge: Hon. Robert E. Nugent Debtor's Counsel: Mark Lazzo, Esq. Justin T. Balbierz, Esq. MARK J. LAZZO, ATTORNEY AT LAW 3500 N Rock Rd Ste 300B Wichita, KS 67226-1396 Tel: (316) 263-6895 E-mail: mark@lazzolaw.com Total Assets: $1,344,900 Total Liabilities: $4,118,149 The petition was signed by Randy Robinson, managing member. A copy of the petition containing, among other items, a list of the Debtor's 11 unsecured creditors is available for free at PacerMonitor.com at: https://is.gd/opsECy CRAFTWORKS PARENT: U.S. Trustee Appoints Creditors' Committee ------------------------------------------------------------- The U.S. Trustee for Region 3 on March 12, 2020, appointed a committee to represent unsecured creditors in the Chapter 11 case of CraftWorks Parent, LLC. The committee members are: 1. Performance Food Group Attn: Brad Boe 188 Inverness Drive West, #700 Englewood, CO 80112 Phone: 302-898-8137 2. FS KKR Capital Corp. Attn: Matthew Levy c/o KKR Credit Advisors US LLC, 9 West 57th Street NY, NY 10019 Phone: 212-520-1469 Fax: 212-401-2614 3. Joe Pinheiro & Sons Dairy Attn: David Pinheiro 13881 Road 120 Tipton, CA 93274 Phone: 559-358-0325 4. The Coca-Cola Company Attn: S. Curtis Marshall 1 Coca-Cola Plaza, NAT11 Atlanta GA 30313 Phone: 404-304-1550 5. Brookfield Property REIT, Inc. Attn: Julie Minnick-Bowden 350 N. Orleans St., Suite 300 Chicago, IL 60654-1607 Phone: 312-960-2707 Fax: 312-442-6374 Official creditors' committees serve as fiduciaries to the general population of creditors they represent. They may investigate the debtor's business and financial affairs. Committees have the right to employ legal counsel, accountants and financial advisors at a debtor's expense. About CraftWorks Parent CraftWorks Parent, LLC and its subsidiaries filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 20-10475) on March 3, 2020. CraftWorks and its affiliated entities are operators and franchisors of steakhouses and craft beer brewery restaurants with more than 330 locations in 39 states in the U.S. and in Taiwan as of the bankruptcy filing date. CraftWorks employs more than 18,000 team members and corporate and support staff at its restaurants nationwide and at offices located in Nashville, Tennessee and Colorado. Its four largest "core" brands are (a) Logan's Roadhouse, (b) Old Chicago Pizza & Taproom, (c) Gordon Biersch Brewery Restaurant, and (d) Rock Bottom Restaurant and Brewery. In addition, CraftWorks operates unique one-off "specialty" restaurants such as Big River Grille & Brewing Works and ChopHouse & Brewery. CraftWorks was estimated to have $100 million to $500 million in assets and liabilities as of the bankruptcy filing date. CraftWorks filed Chapter 11 proceedings to implement an agreement with its senior lender that is expected to reduce its debt by more than 60%, strengthen liquidity, and better position its popular brands for long-term growth. It has filed a motion requesting approval of a "stalking horse" asset purchase agreement with its senior lender and a competitive bidding process under Section 363 of the Bankruptcy Code. CraftWorks and its affiliated debtors tapped Klehr Harrison Harvey Branzburg LLP as legal counsel; Configure Partners, LLC, as investment banker; M-III Advisory Partners, LP as financial advisor; Hilco Real Estate, LLC as the real estate advisor; and Kekst CNC as the communications advisor. Prime Clerk LLC is the claims agent. CRM CITY FELLOWSHIP: Taps Evan Howell as Real Estate Broker ----------------------------------------------------------- CRM Fellowship Church received approval from the U.S. Bankruptcy Court for the Southern District of Texas to hire Evan Howell Properties to list and market its real properties. The properties are located at (i) 27131 Hanna Road, Conroe, Texas; (ii) 2702 Cleburne St., Houston, Texas; and (iii) 1323 Wentworth, Houston, Texas. The firm will get 4 percent of the selling price as payment for its services. Evan Howell Properties does not hold any interest adverse to the Debtor's bankruptcy estate, according to court filings. The firm can be reached through: Evan S. Howell Evan Howell Properties P.O. Box 55753 Houston, TX 77255 Phone: (713) 249-4453 Email: evanhowell@aol.com About CRM City Fellowship Church CRM City Fellowship Church, a tax-exempt religious organization in Houston, Texas, sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Case No. 18-36175) on Nov. 5, 2018. In the petition signed by Leroy J. Woodard, president, the Debtor estimated assets of $1 million to $10 million and liabilities of $1 million to $10 million. Judge Eduardo V. Rodriguez oversees the case. The Debtor tapped the Law Office of Nelson M. Jones III as its legal counsel. DIOCESE OF BUFFALO: U.S. Trustee Appoints Creditors' Committee -------------------------------------------------------------- The Office of the U.S. Trustee on March 12, 2020, appointed a committee to represent unsecured creditors in the Chapter 11 case of The Diocese of Buffalo, N.Y. The committee members are: (1) Richard Brownell (2) Kevin Brun (3) Ann Marie Dempsey (4) Ruth A. MacAlister (5) Peter Starks (6) Scott Yerger (7) Howard Zwelling Official creditors' committees serve as fiduciaries to the general population of creditors they represent. They may investigate the debtor's business and financial affairs. Committees have the right to employ legal counsel, accountants and financial advisors at a debtor's expense. About The Diocese of Buffalo The Diocese of Buffalo, N.Y., is home to nearly 600,000 Catholics over eight counties in Western New York. The territory of the diocese is co-extensive with the counties of Erie, Niagara, Genesee, Orleans, Chautauqua, Wyoming, Cattaraugus and Allegany in New York State, comprising 161 parishes. There are 144 diocesan priests and 84 religious priests who reside in the Diocese. The diocese through its central administrative offices (a) provides operational support to the Catholic parishes, schools and certain other Catholic entities that operate within the territory of the Diocese "OCE"; (b) conducts school operations through which it provides parish schools with financial and educational support; (c) provides comprehensive risk management services to the OCEs; (d) administers a lay pension trust and a priest pension trust for the benefit of certain employees and priests of the OCEs; and (e) provides administrative support for St. Joseph Investment Fund, Inc. Dealing with sexual abuse claims, the Diocese of Buffalo sought Chapter 11 protection (Bankr. W.D.N.Y. Case No. 20-10322) on Feb. 28, 2020. The diocese was estimated to have $10 million to $50 million in assets and $50 million to $100 million in liabilities as of the bankruptcy filing. The Hon. Carl L. Bucki is the case judge. Bond, Schoeneck & King, PLLC, led by Stephen A. Donato, Esq., is the diocese's counsel. Stretto is the claims agent, maintaining the page https://case.stretto.com/dioceseofbuffalo/docket ENTERPRISE INSURANCE: Taps BransonLaw as Special Counsel -------------------------------------------------------- Enterprise Insurance Agency, Inc. received approval from the U.S. Bankruptcy Court for the Middle District of Florida to hire BransonLaw, PLLC as its special counsel. BransonLaw will advise the Debtor as to possible claims against lenders who loaned the Debtor money prior to its bankruptcy filing. The firm's standard hourly rates for attorneys and paralegals range from $450 to $150. Jeffrey Ainsworth, Esq., at BransonLaw, disclosed in court filings that the firm neither holds nor represents any interest adverse to the Debtor's bankruptcy estate. BransonLaw can be reached through: Jeffrey S. Ainsworth, Esq. BransonLaw PLLC 1501 E. Concord Street Orlando, FL 32803 Telephone: (407) 894-6834 Facsimile: (407) 894-8559 E-mail: jeff@bransonlaw.com About Enterprise Insurance Agency Enterprise Insurance Agency, Inc., an insurance agency in Deltona, Fla., sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 19-00811) on Feb. 6, 2019. At the time of the filing, the Debtor had estimated assets of less than $50,000 and liabilities of less than $500,000. Judge Karen Jennemann oversees the case. The Debtor tapped the Law Offices of L. William Porter III, P.A. as its legal counsel. On Jan. 16, 2020, the court issued an order confirming the Debtor's Chapter 11 plan of reorganization. EVERGREEN PALLET: Lift Parts Lease to Be Assumed, Unimpaired ------------------------------------------------------------ Evergreen Pallet, LLC, disclosed an amendment to its Plan of Reorganization. Class Eight includes the leases with Lift Parts Service, LLC for five forklifts (Serial#:H2X393J02712; Serial#: H2X393J02511; Serial#: H2X393J02704; Serial#: P232L-1560-9839; and Serial#: H2X393J02708). The lease term is 48 months with a base rent of $1,350 per month plus overage of $6.15 per hour if the usage is over 3,000 hours per year for each forklift. The total is $1,900 per week or $6,750 per month. The lease will be assumed. Class Eight is unimpaired. A full-text copy of the Amendment dated March 2, 2020, is available at https://tinyurl.com/vfamp4j from PacerMonitor.com at no charge. Attorneys for the Debtor: Erlene W. Krigel KRIGEL & KRIGEL, P.C. 4520 Main Street, Suite 700 Kansas City, Missouri 64111 Tel: (816) 756-5800 Fax: (816) 756-1999 About Evergreen Pallet Evergreen Pallet LLC is a pallet supplier in Wichita, Kansas. Evergreen Pallet filed a petition seeking relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Kan. Case No. 19-21983) on Sept. 17, 2019. In the petition signed by Jeffrey Ralls, member, the Debtor listed assets at $1,316,600 and liabilities at $6,624,679. The Hon. Robert D. Berger is the case judge. KRIGEL & KRIGEL, PC, is the Debtor's counsel. FERRELLGAS PARTNERS: Moody's Lowers CFR to Caa3, Outlook Neg ------------------------------------------------------------ Moody's Investors Service downgraded Ferrellgas Partners L.P.'s Corporate Family Rating to Caa3 from Caa2, Probability of Default Rating to Ca-PD from Caa2-PD, and the senior unsecured notes rating to C from Ca. At the same time, Moody's downgraded Ferrellgas, L.P.'s senior unsecured notes to Caa3 from Caa2. The Speculative Grade Liquidity Rating was downgraded to SGL-4 from SGL-3. The rating outlook remains negative. "Ferrellgas's downgrade is driven by the company's continued high financial leverage and the very high likelihood that the partnership will complete a full debt recapitalization in the near-term," said Arvinder Saluja, Moody's Vice President. Downgrades: Issuer: Ferrellgas Partners L.P. Probability of Default Rating, Downgraded to Ca-PD from Caa2-PD Speculative Grade Liquidity Rating, Downgraded to SGL-4 from SGL-3 Corporate Family Rating, Downgraded to Caa3 from Caa2 Senior Unsecured Regular Bond/Debenture, Downgraded to C (LGD5) from Ca (LGD6) Issuer: Ferrellgas, L.P. Senior Unsecured Regular Bond/Debenture, Downgraded to Caa3 (LGD3) from Caa2 (LGD4) Outlook Actions: Issuer: Ferrellgas Partners L.P. Outlook, Remains Negative Issuer: Ferrellgas, L.P. Outlook, Remains Negative RATINGS RATIONALE Ferrellgas is facing challenges in growing EBITDA and in reducing its elevated financial leverage while it tries to expand market share in its core propane distribution business amid a less than favorable heating season. Ferrellgas' leverage is over 8x even with no cash distribution burden, which significantly reduces its options to refinance the $357 million notes due June 2020. Ferrellgas would be unable to repay the June 2020 notes in full, resulting in a very high likelihood of a debt restructuring or other transactions that Moody's would view as a distressed exchange. Ferrellgas's Caa3 CFR reflects this heightened risk of debt restructuring in the near term, high financial leverage, substantial uncertainty about EBITDA growth, and the seasonal nature of propane sales with significant dependency on cold weather months and the associated volatility in cash flows. Without meaningful debt reduction, Ferrellgas will not be able to materially delever, even with a normal or cold winter. The partnership does have substantial scale and geographic diversification that facilitate cost efficiencies in the fragmented propane distribution industry, recurring services and customer relationships that provide a base level of revenue, and a propane tank exchange business which generates complementary cash flows during summer months. OLP has $500 million in 6.5% senior unsecured notes due 2021, $475 million 6.75% senior unsecured notes due 2022, and $500 million 6.75% senior unsecured notes due 2023. OLP's senior unsecured notes are rated Caa3, same as the CFR due to the priority claim of its sizeable senior secured bank facility getting offset by $357 million 8.625% unsecured notes at Ferrellgas Partners. The structural subordination of Ferrellgas's notes to debt at the OLP results in these 8.625% notes being rated C, two notches beneath the Caa3 CFR. The downgrade of the Speculative Grade Liquidity rating to SGL-4 reflects approaching maturities of Ferrellgas notes in June 2020 and of $500 million OLP notes in May 2021. The secured credit facility, due May 2023, consists of a $275 million term loan and $300 million cash revolver. The revolver borrowings were $40 million, as of January 31, 2020. Nonetheless, the compressed debt maturity schedule and untenable leverage are likely to require the company to complete a debt recapitalization in the near-term. While the partnership is no longer burdened with distributions, there will be a continued need for some growth capex. The partnership's working capital needs are highly seasonal, with peak borrowings during the winter season that can fluctuate significantly with volatile propane prices. The partnership also has an accounts receivable (A/R) securitization facility, which provides a variable monthly borrowing limit ranging from $175 million to $250 million. The rapid and widening spread of the coronavirus outbreak, deteriorating global economic outlook, falling oil prices, and asset price declines are creating a severe and extensive credit shock across many sectors, regions and markets. The combined credit effects of these developments are unprecedented. The propane sector has been affected by the shock given its sensitivity to demand and sentiment. More specifically, the weaknesses in Ferrellgas's credit profile and liquidity have left it vulnerable to shifts in market sentiment in these unprecedented operating conditions and Ferrellgas remains vulnerable to the outbreak continuing to spread. However, these cirumstances could also create some potential incremental demand for retail propane and help Ferrellgas' Blue Rhino brand revenues. Moody's regards the coronavirus outbreak as a social risk under its ESG framework, given the substantial implications for public health and safety. The action reflects the impact on Ferrellgas of the breadth and severity of the shock, and the broad deterioration in credit quality it has triggered. The negative outlook reflects the potential balance sheet restructuring. Ratings could be downgraded if Moody's views on expected recoveries were to worsen. A ratings upgrade is unlikely without significant debt reduction. Factors that could support a rating upgrade include debt/EBITDA approaching 7x and EBITA/interest over 1.25x. The principal methodology used in these ratings was Business and Consumer Service Industry published in October 2016. FIRST FLORIDA: Unsecureds to Split $600K or Sale Proceeds --------------------------------------------------------- First Florida Living Options, LLC, filed a Chapter 11 Plan and a Disclosure Statement. The Debtor's preferred approach to confirming its Plan will be to seek to obtain a buyer to purchase all of Debtor's assets in order to pay creditor claims based upon their relative priority and on a pro rata basis. Accordingly, in the event a sale of the Debtor's assets does not occur prior to or by the Effective Date, the Sale Treatment will be replaced by the Reorganization Treatment as part of Debtor’s Plan confirmation. Class 2 general unsecured creditors holding administrative convenience claims or claims under $7,500 will receive 30% of their allowed claims to be paid by the Debtor's corporate parent, Florida Living Options, Inc. Class 3 non-administrative convenience class creditors will receive the pro-rata share of any sale proceeds. In the event there is not a sale, then the Debtor estimates that the Class 3 creditors will receive a pro-rata share of $600,000. The total payout to Class 3 will depend primarily on the liquidation of the Yandle claim. In the event of a sale, sale proceeds shall fund the Plan, plus any cash on deposit the Debtor has accumulated which is not part of the assets sold to purchaser. A full-text copy of the Disclosure Statement dated March 2, 2020, is available at https://tinyurl.com/r64xq2t from PacerMonitor.com at no charge. Attorneys for the Debtor: Alberto F. Gomez, Jr. JOHNSON, POPE, BOKOR, RUPPEL & BURNS, LLP 401 E. Jackson Street, Suite 3100 Tampa, FL 33602 Telephone: 813-225-2500 Facsimile: 813-223-7118 E-mail: Al@jpfirm.com About First Florida Living Options First Florida Living Options LLC, formerly known as Surrey Place of Ocala, conducts its business under the names Hawthorne Health and Rehab of Ocala, Hawthorne Village of Ocala and Hawthorne Inn of Ocala. The company is based in Ocala, Fla. First Florida Living Options filed a Chapter 11 petition (Bankr. M.D. Fla. Case No. 19-02764) on July 22, 2019. The petition was signed by John M. Crock, vice president of Florida Living Options. The Debtor was estimated to have $1 million to $10 million in both assets and liabilities as of the bankruptcy filing. Judge Jerry A. Funk oversees the case. Johnson Pope Bokor Ruppel & Burns, LLP is the Debtor's bankruptcy counsel. GA PAVING: Expects to File Plan & Disclosures by Aug. 31 -------------------------------------------------------- On April 7, 2020 at 9:30 a.m., Bradley H. Foreman, attorney for the debtor, GA PAVING, LLC, will appear before the Honorable Judge Deborah L. Thorne, in Room 613 of the United States Bankruptcy Court for the Northern District of Illinois, Dirksen Federal Building, 219 S. Dearborn, Chicago, IL and then present the Debtor's motion to set the date for filing a Plan and Disclosure Statement. The Debtor has been meeting with various creditors in order to resolve several of the largest claims in this case; the contractors who have served lien notices up the City of Chicago. The Debtor reasonably expects to be able to propose a feasible plan of reorganization within a reasonable period of time. The Debtor's business is relatively seasonal, and the Debtor is now entering the time of the year when it will undertake new business. The Debtor has several prospects that make it feasible for it to reorganize and pay a reasonable amount to its unsecured creditors and to resolve tax claims. The Debtor proposes to file a Plan and Disclosure Statement by August 31, 2020. The Debtor has by separate motion requested that the Court enter an order, setting July 31, 2020 as the bar date for filing proofs of claim to enable the Debtor to evaluate the claims and effectively administer the estate. About G.A. Paving GA Paving LLC, a paving contractor in Bellwood, Ill., sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ill. Case No. 19-21753) on Aug. 2, 2019. At the time of the filing, the Debtor disclosed $3,255,141 in assets and $3,345,313 in liabilities. Judge Deborah L. Thorne oversees the case. The Debtor tapped the Law Offices of Bradley H. Foreman, P.C., as its bankruptcy counsel. GLASS CONTRACTORS: Hires Dohmeyer as Valuation Consultant --------------------------------------------------------- Glass Contractors, Inc., seeks authority from the U.S. Bankruptcy Court for the Eastern District of Texas to employ Dohmeyer Valuation Corp., as valuation consultant to the Debtor. Glass Contractors requires Dohmeyer to: a. appraise the Debtor as a going concern; and b. assist in such other appraisal and valuation matters as may be mutually agreed upon between Debtor and Dohmeyer in connection with this chapter 11 bankruptcy case. Dohmeyer will be paid a flat fee of $1,000 for the appraisal and valuation. The Firm will be paid $325 per hour for time spent defending the valuation, including depositions and testimony. Bob Dohmeyer, a partner at Dohmeyer Valuation Corp., 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. Dohmeyer can be reached at: Bob Dohmeyer DOHMEYER VALUATION CORP. 2374 Aspermount Dr. Frisco, TX 75033 Tel: (214) 499-5954 E-mail: bdohmeyer@gmail.com About Glass Contractors Glass Contractors, Inc., sought Chapter 11 protection (Bankr. E.D. Tex. Case No. 20-40185) on Jan. 21, 2020, listing under $1 million in both assets and liabilities. Demarco Mitchell, PLLC, is the Debtor's counsel. GLENVIEW HEALTH: Unsecureds to Get 24% in 60 Months --------------------------------------------------- Glenview Health Care Facility, Inc., filed an Amended Disclosure Statement describing a Plan of Reorganization that provides: * Class 3(A) consists of the fully secured claim of Monticello Banking Company in the amount of $4,536,467. This claim, along with any unpaid interest and fees (including legal fees) will be reamortized over 25 years at the adjustable rate set forth in creditor's current loan documents. Based on the claim amount and assuming an interest rate of 5%, the estimated monthly payment will be $27,150, exclusive of amount of the payment on account of fees. * Class 3(B) consists of the fully secured claim of Franklin Bank. The current payoff of this claim is $66,385. This claim will be paid in full over 60 months with interest at the rate of 5%. The estimated monthly payment will be $1,253. * Class 3(C) consists of the partially secured claim of German American Bank in the total amount of $357,175. This claim is secured by a second mortgage on the real property of Glenview. The Debtor believes this claim to be partially secured to the extent of $200,000 with the balance of the claim as unsecured. The secured portion of the claim will be reamortized over 10 years with interest at the rate of 5%. Monthly payments on the secured portion of the claim will be approximately $3,774.25. * Class 3(D) consists of the partially secured claim of CIT Bank in the total amount of $107,605. This claim is secured by a UCC filing on equipment of the Debtor. The Debtor believes the claim to be partially secured to the extent of $70,000. The secured portion of the claim will be paid based on a 60 month repayment with interest at the rate of 5%. Monthly payments on the secured portion of the claim will be approximately $1,353. * Class 3(E) consists of the partially secured claim of Ally Bank in the amount of $36,101. The Debtor believes the claim to be partially secured to the extent of $25,000. The secured portion of the claim will be paid based on a 60-month repayment with interest at the rate of 5%. Monthly payments on the secured portion of the claim will be approximately $471.78. * Class 4 consists of unsecured claims. Allowed unsecured creditors will be paid monthly for 60 months. The Debtor will make available the sum of $6,000 per month for allowed unsecured creditors. The Debtor will make a monthly distribution to allowed unsecured creditors on a pro rata basis. The Debtor will pay into the estate from its operations the sum of $6,000 per month set aside for the payment of unsecured claims. Based on a $6,000 per month payment, Glenview estimates the percentage to unsecured creditors of 24% on their claims. The Debtor will pay into the estate funds derived from potential litigation after payment of administrative expenses associated with that litigation. Payment to creditors will be made as their interest may appear. * Class 5 consists of Equity Interest of Kay Bush and Lisa Howlett in the Debtor. Kay Bush and Lisa Howlett will retain their equity interest in the reorganized debtor. A full-text copy of the Amended Disclosure Statement dated March 2, 2020, is available at https://tinyurl.com/t8ypd7b from PacerMonitor.com at no charge. Counsel for 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 Glenview Health Care Facility Glenview Health Care Facility, Inc., owns and operates a 60-bed health care facility that provides nursing home services in Glasgow/Barren County, Kentucky. It is the only remaining independently owned and operated nursing facility and the lowest patient to staff ratio in the county. In 2018, it received an overall rating from CMS of 4 stars compared to the KY average of 2.97 and a National average of 3.31. The facility is owned by Kay Bush and Lisa Howlett, both of whom started their health care careers after graduating from Western Kentucky University. Glenview Health Care Facility sought relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Ky. Case No. 19-10795) in Bowling Green, Kentucky on Aug. 1, 2019. As of the Petition Date, the Debtor's assets are between $1 million and $10 million; and its liabilities are estimated within the same range. Judge Joan A. Lloyd oversees the Debtor's case. Mark H. Flener, Esq., is the Debtor's counsel. The U.S. Trustee for Region 8 on Aug. 30, 2019, appointed two creditors to serve on the official committee of unsecured creditors in the Chapter 11 case. The Committee retained Bingham Greenebaum Doll LLP, as counsel. GRAFTON FOOD: Has Interim Approval to Use Cash Collateral --------------------------------------------------------- Judge Elizabeth D. Katz authorized Grafton Food Service Inc. to use cash collateral through March 13, 2020. The Court ruled that the secured parties, including the Massachusetts Department of Revenue and Vanessa Theoharis, daughter of the Debtor's sole shareholder and owner, are granted a continuing post-petition replacement lien and security interest in all post-petition property of the estate of the same type against which they held validly perfected liens and security interest as of the Petition Date. The Massachusetts Department of Revenue asserted that it is owed approximately $395,000 for meals taxes and corporate excise taxes, while Ms. Theoharis is owed $40,000 for monies she loaned to the Debtor. A copy of the motion, with a budget covering the period from March 2020 through February 2021, is available for free at https://is.gd/q3a0ex from PacerMonitor.com. The Debtor has filed the motion to be able to fund its on-going operation and pay necessary business expenses. As directed by the Court, the Debtor filed a reconciled actual income and expense budget for the period ending Feb. 29, 2020, a copy of which is available for free at https://is.gd/pjDduj About Grafton Food Service Grafton Food Service Inc. operates a full service pizza restaurant called Pepperoni Express located in North Grafton, Massachusetts. The company filed a Chapter 11 petition (Bankr. D. Mass. Case No. 20-40215) on Feb. 11, 2020. Ehrhard & Associates, P.C., represents the Debtor. GREENPOINT TACTICAL: Hires Husch Blackwell as Special Counsel ------------------------------------------------------------- Greenpoint Tactical Income Fund LLC, and its debtor-affiliates seek authority from the U.S. Bankruptcy Court for the Eastern District of Wisconsin to employ Husch Blackwell LLP, as special counsel to the Debtors. Greenpoint Tactical requires Husch Blackwell to securities litigation captioned United States Securities and Exchange Commission v. Bluepoint Investment Counsel, LLC, Michael G. Hull, Christopher J. Nohl, Chrysalis Financial LLC, Greenpoint Asset Management II, LLC, Greenpoint Tactical Income Fund LLC and GP Rare Earth Trading Account LLC, Case No. 19-cv-809, pending before the United States District Court for the Western District of Wisconsin. Husch Blackwell will be paid at the hourly rate of $175 to $705. Husch Blackwell will also be reimbursed for reasonable out-of-pocket expenses incurred. Patrick S. Coffey, partner of Husch Blackwell LLP, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtors and their estates. Husch Blackwell can be reached at: Patrick S. Coffey, Esq. HUSCH BLACKWELL LLP 555 E. Wells Street, Suite 1900 Milwaukee, WI 53202-3819 Tel: (414) 273-2100 About Greenpoint Tactical Income Fund Greenpoint Tactical Income Fund LLC is a private investment fund headquartered in Madison, Wis. GP Rare Earth Trading Account LLC is a wholly-owned subsidiary of Greenpoint Tactical Income Fund. Greenpoint Tactical Income Fund and GP Rare Earth sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Wis. Lead Case No. 19-29613) on Oct. 4, 2019. At the time of filing, the Debtors each had estimated assets of between $100 million and $500 million and liabilities of between $10 million and $50 million. The cases have been assigned to Judge G. Michael Halfenger. The Debtors tapped Steinhilber Swanson LLP as their legal counsel; Husch Blackwell LLP, as special counsel; and MorrisAnderson & Associates Ltd. as their accountant and financial advisor. The Office of the U.S. Trustee appointed a committee of equity security holders on Dec. 5, 2019. The equity committee is represented by Freeborn & Peters LLP. GVM INC: Unsecured Creditors to Get $100K Under Plan ---------------------------------------------------- GVM, Inc., Independent AG Equipment, Inc., and GVM West, Ltd., are proposing a Joint Plan of Reorganization filed by the Debtors. On Feb. 5, 2020, GVM filed a motion seeking authority to sell all of its assets free and clear of liens and authority to lease back the assets. The proposed sale and lease transaction has multiple pieces and effects a large portion of the GVM's creditors as well as the creditors of its wholly owned subsidiaries, GVM West and Independent AG. After the sale motion is approved, the Debtors intend to lease back the assets and continue operations. The Plan will be funded by the sale of the assets, the disposition of stock in AgJunction, Inc., owned by GVM, and ongoing operations of the Debtor, carried out by existing management to maximize the Debtors' presence in its marketplace while striving to keep overhead low. As to Class 1 Secured Claim of PeopleBank, A Codorus Valley Corporation, the Bank has three (3) outstanding loans to GVM which includes two term loans with outstanding balances of $327,000 and $350,000 and a line of credit, which revolved until the chapter 11 filing, of which approximately $3,000,000 remains outstanding. The Class 1 Claim will be paid from the proceeds from the sale of the Debtors' sale assets and the Anderson Assets to the Buyer for a purchase price of $6,000,000. As to Class 12 Allowed Unsecured Claims of GVM, the Reorganized Debtor proposes to pay a pro rata distribution of $50,000 to holders of allowed unsecured claims, excluding the bank, over a period of 24 months starting on the Effective Date. As to Class 20 Allowed Unsecured Claims against Independent AG, the Reorganized Debtor proposes to pay a pro rata distribution of $50,000 to holders of allowed unsecured claims, excluding the Bank, over a period of 24 months starting on the Effective Date. Class 21 Interest Holders of GVM are not impaired -- all interests will be retained. Class 22 Interest Holders of Independent AG are impaired -- all interests will be cancelled. As to Class 23 Allowed Unsecured Claims against GVM West, the Bank will receive no distribution on account of its claim. The Plan will be funded by the Debtors' Asset Sale, the sale of the Anderson Real Estate, the disposition of GVM's stock in AGX, and the ongoing operations of the Reorganized Debtor. A full-text copy of the Joint Disclosure Statement dated March 2, 2020, is available at https://tinyurl.com/rjdu3gz from PacerMonitor.com at no charge. Attorneys for the Debtors: Albert A. Ciardi, Ill, Esquire Nicole M. Nigrelli, Esquire Jennifer C. McEntee, Esquire CIARDI CIARDI & ASTIN One Commerce Square 2005 Market Street, Suite 3500 Philadelphia, PA 19103 Tel: (215) 557-3550 Fax: (215)557-3551 E-mail: aciardi@ciardilaw.com nnigrelli@ciardilaw.com jcranston@ciardilaw.com About GVM Inc. GVM Inc. -- https://www.gvminc.com/ -- is a manufacturer of agricultural application and snow equipment. Its affiliate Independent AG Equipment, Inc. is a distributor of multiple equipment lines and acts as separate entity from manufacturing. GVM West, LTD is a supplier of farm equipment parts. GVM and its affiliates sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Pa. Lead Case No. 19-03013) on July 13, 2019. The petitions were signed by Mark W. Anderson, president. At the time of the filing, GVM disclosed assets of between $10 million and $50 million and liabilities of the same range. Albert A. Ciardi, III, Esq., at Ciardi Ciardi & Astin, P.C., represents the Debtors. HAGUE TEXTILES: Gets Interim Access to Cash Collateral ------------------------------------------------------ Judge Christopher J. Panos authorized Hague Textiles, Inc., to use cash and other collateral claimed by Forward Financing LLC; Commercial Business Funding; Provident Commercial Finance, LLC; Kabbage, Inc.; BizFi and Green Capital Funding, LLC. The Court ruled that, as adequate protection: * the Debtor will make regular monthly adequate protection payments to Commercial Business Funding in the amount of $459.17, and Provident in the amount of $781.83, * the Debtor will grant each of the secured creditors continuing replacement liens and security interests in the Debtor's post-petition receivables, to the extent of their existing liens. A continued hearing is set for May 7, 2020 at 10:00 a.m. Any objections must be filed by May 5, 2020. Judge Panos, previously, has authorized the Debtor's use of the cash collateral, pursuant to an interim order dated Feb. 19, 2020, there being no objections filed with the Court. About Hague Textiles Hague Textiles, Inc. is a small, family-owned manufacturer, focusing on leather and leather goods such as belts, bags, and carrying case. The company sells products to retail and wholesale customers, and is developing a business with corporate gifts. Hague Textiles sought Chapter 11 protection (Bankr. D. Mass. Case No. 19-13323) on Sept. 30, 2019. Madoff & Khoury LLP is the Debtor's counsel. HEART TO HEART: Unsecureds Recover 40% Under Plan ------------------------------------------------- Heart to Heart Catering, LLC., filed a proposed Plan of Reorganization. Class 4 Allowed Claims of Pawnee Leasing are impaired and will be satisfied as follows: Pawnee has filed a Proof of Claim asserting a secured claim in the amount of $7,215. Pawnee will have a secured claim in the amount of $6,224 which shall be paid in 60 equal monthly installments commencing on the Effective Date, with interest at the rate of 5 % per annum. The monthly payment on the Pawnee secured claim will be $117. Class 5 Allowed Secured Claims of Ally Bank are impaired and will be satisfied as follows: Ally has filed a Proof of Claim in the amount of $25,344. Ally will have a secured claim in the amount of $25,343 less any payments received post petition which shall be paid in 72 equal monthly installments commencing on the Effective Date, with interest at the rate of 5 % per annum. The monthly payment on the Ally secured claim shall be $408. Class 6 Allowed Claims of General Unsecured Creditors are impaired. The payments will commence 90 days after the Effective Date and continue for a period of 20 quarters. The Debtor will pay $3,000 per quarter into the Unsecured Creditors Pool to be distributed pro rata to all unsecured creditors. Based upon the Debtor's review of its books and records and the claims filed in the case, the Debtor believes the total amount of unsecured claims to be approximately $200,000. The approximate distribution to Class 6 creditors will be 40%. The projections of the future business operations presume an increase in sales of 5% per year over the life of the Plan. The projections also assume an increase in expenses of 3% per year over the life of the Plan. Based upon the projections, the Debtor believes the Plan to be feasible. A full-text copy of the Disclosure Statement dated March 9, 2020, is available at https://tinyurl.com/vwgwa32 from PacerMonitor.com at no charge. Proposed attorneys for the Debtor: ERIC A. LIEPINS ERIC A. LIEPINS, P.C. 12770 Coit Road, Suite 1100 Dallas, Texas 75251 Tel: (972) 991-5591 Fax: (972) 991-5788 About Heart to Heart Catering After working for many different companies and resorts over the past 35 years plus as Executive Chef or Cater Chef, Tom Elkhay and his wife Mary Elkhay opened Heart to Heart Catering, LLC in the spring of 2017. In the first year the company grossed over $110,000 without any advertising. By 2019 the Debtor's business had grown to over $288,000 in gross revenue. In January 2019, one of the Debtor's largest corporate clients decided not to continue its use of Debtor. This amounted to approximately 25% of the Debtor’s gross revenues. The Debtor was unable to recover from this loss and took out a number of high interest loans which the Debtor was unable to repay timely. Heart to Heart Catering, LLC, sought Chapter 11 protection (Bankr. N.D. Tex. Case No. 19-33453) on Oct. 15, 2019, estimating less than $1 million in both assets and liabilities. The Debtor tapped Eric A. Liepins, Esq., of ERIC A. LIEPINS, P.C., as counsel. HEIRLOOM INC: Hires Profound Financial as Accountant ---------------------------------------------------- Heirloom, Inc., seeks authority from the U.S. Bankruptcy Court for the District of, to employ Profound Financial, PLLC, as accountant to the Debtor. Heirloom, Inc. requires Profound Financial to: -- record and classify financial transactions; -- prepare the Debtor's 2019 tax returns and other submissions required by the federal or state taxing authorities, or as required by the Bankruptcy Court; and -- provide other necessary accounting and bookkeeping advice in connection with the Debtor's bankruptcy. Profound Financial will be paid at these hourly rates: Danett Gardiner $185 Data Entry Clerks $30 Accountants $45 Accounting Manager $85 Profound Financial will also be reimbursed for reasonable out-of-pocket expenses incurred. Dannett Gardiner, partner of Profound Financial, PLLC, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. Profound Financial can be reached at: Dannett Gardiner PROFOUND FINANCIAL, PLLC 7121 W. Bell Road Suite 210 Glendale, AZ 85308 Tel: (623) 566-9821 Fax: (623) 566-9847 About Heirloom Heirloom, Inc., d/b/a Tiny Heirloom, an affiliate of Level 3 Homes & Design, LLC, manufactures tiny homes. The company sought Chapter 11 protection (Bankr. D. Ore. Case No. 20-30272) on Jan. 27, 2020. In the petition signed by Jeremy Killian, president, the Debtor was estimated to have between $1 million and $10 million in both assets and liabilities. Motschenbacher & Blattner, LLP, is the Debtor's counsel. HUSCH & HUSCH: Hires Southwell & O'Rourke as Counsel ---------------------------------------------------- Husch & Husch, Inc., seeks authority from the U.S. Bankruptcy Court for the Eastern District of Washington to employ Southwell & O'Rourke, P.S., as counsel to the Debtor. Husch & Husch requires Southwell & O'rourke to represent and provide legal services to the Debtor in the Chapter 11 bankruptcy proceedings. Southwell & O'rourke will be paid at the hourly rates of $275 to $400. The Debtor paid Southwell & O'rourke a retainer in the amount of $22,500, plus filing fee. Southwell & O'Rourke will also be reimbursed for reasonable out-of-pocket expenses incurred. Dan O'Rourke, a partner at Southwell & O'rourke, P.S., 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. Southwell & O'rourke can be reached at: Dan O'Rourke, Esq. SOUTHWELL & O'ROURKE 421 W. Riverside Avenue, Suite 960 Spokane, WA 99201 Tel: (509) 624-0159 E-mail: dorourke@southwellorourke.com About Husch & Husch Husch & Husch, Inc. -- http://www.huschandhusch.com/-- is family owned and operated agricultural chemical and fertilizer company located in Harrah, Washington. It provides conventional and organic fertilizers, micro nutrient technology, and chemicals to help make lawn, garden, agronomic crops, and fruit trees grow to their full potential. Husch & Husch was founded in 1937 by Pete Husch. Husch & Husch, Inc., based in Harrah, WA, filed a Chapter 11 petition (Bankr. E.D. Wash. Case No. 20-00465) on March 4, 2020. In the petition signed by CFO Allen Husch, the Debtor disclosed $12,284,732 in assets and $5,966,019 in liabilities. Dan O'Rourke, Esq., at Southwell & O'Rourke, P.S., serves as bankruptcy counsel to the Debtor. HVI CAT CANYON: Trustee Taps Buynak Fauver as Special Counsel ------------------------------------------------------------- Michael McConnell, the Chapter 11 trustee for HVI Cat Canyon, Inc., seeks authority from the U.S. Bankruptcy Court for the Central District of California to hire Buynak, Fauver, Archbald & Spray, LLP as his special counsel. Buynak will advise the trustee on local environmental issues and, if necessary, represent him in a lawsuit filed against the Debtor in the U.S. District Court for the Central District of California (Case No. 11-05097). Olivia Marr, Esq., and Trevor Large, Esq., the primary attorneys who will be representing the trustee, will charge $415 per hour and $490 per hour, respectively. Buynak and its attorneys are disinterested persons within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached through: Olivia K. Marr, Esq. Buynak, Fauver, Archbald &Spray, LLP 820 State Street, 4th Floor Santa Barbara, CA 93101 Tel: 805-966-7000 Fax: 805-966-7227 About HVI Cat Canyon HVI Cat Canyon, Inc., is a privately held oil and gas extraction company based in New York. HVI Cat Canyon sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Case No. 19-12417) on July 25, 2019. In the petition signed by Alex G. Dimitrijevic, president, the Debtor was estimated to have assets of between $100 million and $500 million and liabilities of the same range. On Aug. 28, 2019, the case was transferred to the U.S. Bankruptcy Court for the Northern District of Texas. On Sept. 12, 2019, the case was transferred to the U.S. Bankruptcy Court for the Central District of California and was assigned a new case number (Case No. 19-11573). The Debtor tapped Weltman & Moskowitz, LLP as bankruptcy counsel; Epiq Bankruptcy Solutions, LLC as claims and noticing agent; and Cappello Global, LLC and Camden Financial Services as financial advisors. The Office of the U.S. Trustee appointed a committee of unsecured creditors in the Debtor's case. The committee tapped Pachulski Stang Ziehl & Jones LLP as bankruptcy counsel; Cole Schotz P.C. as local and conflict co-counsel; and Conway MacKenzie, Inc. as financial advisor. Michael A. McConnell was appointed as Chapter 11 trustee for the Debtor's bankruptcy estate. The trustee tapped Danning, Gill, Israel & Krasnoff, LLP as his legal counsel, and CR3 Partners, LLP as his restructuring and financial advisor. HYGEA HOLDINGS: Court Grants Interim Nod on $9.9M DIP Loan ---------------------------------------------------------- Hygea Holdings Corp. and debtor affiliates seek permission from the Bankruptcy Court to obtain up to $9,980,303 of new money senior secured super priority DIP term loan from a syndicate of lenders party thereto, from time to time, and Bridging Finance Inc., as DIP agent. The other salient terms of the DIP financing include: * Interest Rate: equal to LIBOR + 8% per annum * Default rate: shall be an incremental 2% per annum * Maturity: The DIP term facility will mature on the earliest to occur of: (a) June 15, 2020, (b) the effective date of any plan of reorganization, (c) the date a sale of all or substantially all of the Debtors' assets is consummated under Section 363 of the Bankruptcy Code, and (d) the acceleration of the obligations by the DIP Agent following the occurrence of an event of default. * Milestones: (a) Debtors will have filed a chapter 11 plan and disclosure statement with respect to the plan according to the terms of the Restructuring Support Agreement by and among the Debtors, Bridging and Bridging Income Fund by no later than 20 days after the Petition Date; (b) entry of an order approving the RSA no later than 30 days after the Petition Date; (c) entry of an order approving the disclosure statement by no later than 45 days after the Petition Date; and (d) entry of an order confirming the plan by no later than 75 days after the Petition. The DIP facility also requires the borrower to pay the DIP lender, from the first DIP advance, a fully earned, non-refundable closing fee of 2% of the commitments under the DIP facility, due and payable at the closing of the DIP facility. As security for the DIP obligations, it is proposed to grant the DIP agent a continuing, valid, binding, enforceable, non-avoidable and properly perfected security interests in and liens g on and over all property and other assets of the Debtors. The Debtors also seek to use Bridging's cash collateral to preserve the value of their businesses. As of the Petition Date, the Debtors owe Bridging, as administrative agent under the pre-petition agreements, and Bridging Income Fund LP: * unpaid principal in the amount of $160,946,771.18 (Canadian); * accrued but unpaid interest on the prepetition loan in the amount of $1,182,066 (Canadian), which interest continues to; and * unliquidated, accrued and unpaid fees and expenses of Bridging and its professionals incurred through the Petition Date, which amounts when liquidated shall be added to the secured claim. The Debtors propose to grant Bridging a continuing, valid, perfected and enforceable continuing replacement lien and security interest in all of the Debtors' assets existing as of the Petition Date of the same type as the prepetition collateral, as adequate protection for any diminution in the value of cash collateral and other prepetition collateral resulting from the Debtors' use of the cash collateral. Moreover, the Debtors propose that Bridging will have a super-priority administrative expense claim pursuant to Section 507(b) of the Bankruptcy Code, with recourse to and payable from any and all assets of the estates of the Debtors, as additional adequate protection for any diminution in its interest. A copy of the motion is available for free at https://is.gd/KmvUmo from PacerMonitor.com. Judge Karen B. Owens granted the motion on an interim basis. The Debtors are authorized to use cash collateral until the earlier to occur of June 15, 2020 or other termination events, including, among others: (a) the dismissal of the Debtors' Chapter 11 cases, or the conversion of the cases to cases under Chapter 7 of the Bankruptcy Code, or (b) commencing of an adversary proceeding or contested matter by the Debtors or any other party challenging Bridging’s liens, security interests or claims. Subject to the interim order and the DIP credit agreement, Bridging agrees to make available disbursements to the Debtors every two weeks, pursuant to the budget, commencing immediately after entry of the interim order in an amount equal to 100% of the projected operating deficit for such two week period shown on the budget, to the extent the Debtors meet the funding requirements under the DIP credit agreement. The Court further ruled that Bridging, Bridging Income Fund or their assignee may credit bid some or all of their claims under the DIP credit agreement. A final hearing will be held on March 24, 2020 at 2 p.m. (EST). Objections must be filed by 4 p.m. (EST) on March 17, 2020. Parties-in-interests may be reached, as follows: (a) the Debtors Hygea Holdings Corp. Attn: Keith Collins, M.D. 8700 W. Flager Street, Suite 280 Miami, FL 33174 Telephone: (855) 339-4095 E-mail: keith.collins@hygea.net (b) the Debtors' counsel: Cole Schotz, P.C. Attn: Felice R. Yudkin and Stuart Komrower 25 Main Street Hackensack, NJ 07601 Telephone: (201) 489-3000 E-mail: fyudkin@coleschotz.com skomrower@coleschotz.com (c) the DIP Agent Bridging Finance Inc. Attn: Robb Cacovic 77 King St W #2925 Toronto, ON M5K 1K7 Telephone: (604) 785-0936 E-mail: rcacovic@bridgingfinance.ca (d) DLA Piper LLP (US) Attn: Thomas R. Califano 1251 Avenue of the Americas New York, NY 10020-1104 A copy of the interim DIP order is available for free at https://is.gd/L2YtXw from PacerMonitor.com. About Hygea Holdings Founded in 2007, Hygea Holdings -- http://www.hygeaholdings.com/-- is a consolidated enterprise of several companies aggregated through a series of acquisitions that focus on the delivery of primary-care-based health care to commercial, Medicare, and Medicaid patients. Hygea currently provides health care related services to 190,000 patients in the southeast United States through two platforms: (i) individual physician practices and physician group practices with a primary care physician focus and (ii) management services organizations. The physician practices consist of 17 active brick and mortar locations throughout South and Central Florida and Georgia. Hygea is headquartered in Miami, Florida and employed more than 150 individuals at the time of filing. Hygea Holdings Corp. and 32 affiliates sought Chapter 11 protection (Bankr. D. Del. Lead Case No. 20-10361) on Feb. 19, 2020. The Debtors tapped COLE SCHOTZ P.C. as counsel; and ALVAREZ & MARSAL NORTH AMERICA, LLC, as financial advisor. EPIQ CORPORATE RESTRUCTURING, LLC, is the claims agent. IBIS NETWORKS: Court Confirms Reorganization Plan as Modified ------------------------------------------------------------- The hearing on the Combined Plan of Reorganization And Disclosure Statement dated Jan. 13, 2020, of IBIS Networks, Inc., was held on Feb. 24, 2020 at 2:00 p.m. before the Honorable Robert J. Faris, United States Bankruptcy Judge for the District of Hawaii. Judge Faris ordered that the Plan is confirmed pursuant to Sections 1129 and 1125 of the Bankruptcy Code, subject to the modifications set forth in this Order as follows: A. The following is added as the last sentence of Section II.B.1 of the Plan: Notwithstanding any other provision in the Plan, the United States Trustee shall not be required to file an administrative proof of claim in this Chapter 11 case for any fees and charges assessed against the Estate of the Debtor under Section 1930 of Chapter 123 of Title 28 of the United States Code (“quarterly fees”). B. Section IX.6.2 of the Plan is amended and restated in its entirety as follows: As of the Effective Date, all persons that have held, currently hold or may hold any claims, obligations, suits, judgments, damages, demands, debts, rights, causes of action or liabilities that are released pursuant to the Plan will be permanently enjoined from taking any of the following actions against the Debtor or its property on account of such released claims, obligations, suits, judgments, damages, demands, debts, rights, causes of action or liabilities, including, without limitation: (a) commencing or continuing in any manner any action or other proceeding; (b) enforcing, attaching, collecting or recovering in any manner any judgment, award, decree or order; (c) creating, perfecting or enforcing any Lien; (d) asserting a setoff, or right of subrogation of any kind against any debt, liability or obligation due to the Debtor; and (e) commencing or continuing any action, in any manner, in any place that does not comply with or is inconsistent with the provisions of the Plan. Notwithstanding the foregoing, any liabilities of any non- Debtor are neither released nor discharged under this Plan. Notwithstanding the foregoing, federal and state governmental agencies shall not be subject to the foregoing injunction with respect to the exercise and enforcement of any of their respective regulatory or police rights and powers. C. Section IX.7 of the Plan is amended and restated in its entirety to read as follows: The Debtor, its officers, directors, and Professionals shall not have or incur any liability or obligation, whether liquidated or unliquidated, fixed or contingent, matured or unmatured, known or unknown, foreseen or unforeseen, and whether asserted or assertible directly or derivatively, in law, equity, or otherwise, to any holder of a Claim or Equity Interest for any act or omission originating or occurring on or after the Petition Date through and including the Effective Date in connection with, relating to, or arising out of the administration of the Chapter 11 case (but not including transactions and events occurring in the ordinary course of Debtor’s business during the pendency of the case), the formulation, negotiation, preparation, filing, dissemination, approval, or confirmation of the Plan, the solicitation of votes for or confirmation of the Plan, the consummation of and administration of the Plan, or the Property to be distributed under the Plan, except for their willful misconduct or gross negligence as determined by a Final Order of a court of competent jurisdiction. The foregoing parties will be entitled to rely reasonably upon the advice of counsel in all respects regarding their duties and responsibilities under the Plan. A full-text copy of the Order dated March 2, 2020, is available at https://tinyurl.com/s6gcs4x from PacerMonitor.com at no charge. About IBIS Networks IBIS Networks, Inc. -- http://ibisnetworks.com/-- is a full-stack cleantech company that provides plug-level energy monitoring and control to solve energy and asset management problems for corporations and businesses. Its cloud-based IoT solution enables customers to reduce their plug-load consumption by up to 20 percent as well as track the condition and utilization of the assets consuming that electricity. IBIS Networks sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Hawaii Case No. 19-01083) on Aug. 27, 2019. At the time of the filing, the Debtor was estimated to have assets of between $500,000 and $1 million and liabilities of between $1 million and $10 million. The case is assigned to Judge Robert J. Faris. The Debtor is represented by Choi & Ito, Attorneys At Law. INTERNAP TECHNOLOGY: Case Summary & 30 Top Unsecured Creditors -------------------------------------------------------------- Lead Debtor: Internap Technology Solutions Inc. 12120 Sunset Hills Road Reston, VA 20190 Business Description: Internap Technology and its subsidiaries -- https://www.inap.com -- are a global provider of premium data center infrastructure, cloud solutions, and high- performance network services across 21 major markets around the world. The Debtors' core business segments include providing "colocation" solutions (i.e., the leasing of managed data center space for use by clients within facilities that are leveraged to support multiple clients simultaneously) and providing hosting and IT infrastructure services utilizing cloud computing solutions. The Debtors and their non-Debtor affiliates own and/or operate 99 data centers and other Points of Presence ("POPs"), or communications network demarcation/interface points, worldwide. Chapter 11 Petition Date: March 16, 2020 Court: United States Bankruptcy Court Southern District of New York Seven affiliates that concurrently filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code: Debtor Case No. ------ -------- Internap Technology Solutions Inc. (Lead Case) 20-22393 Ubersmith, Inc. 20-10806 Internap Corporation 20-22394 SingleHop, LLC 20-22399 Internap Connectivity LLC 20-22396 Hosting Intellect, LLC 20-22398 DataGram, LLC 20-10805 Judge: Hon. Robert D. Drain Debtors' General Bankruptcy Counsel: Dennis F. Dunne, Esq. Abhilash M. Raval, Esq. Tyson Lomazow, Esq. MILBANK LLP 55 Hudson Yards New York, NY 10001 Tel: (212) 530-5000 Fax: (212) 530-5219 E-mail: ddunne@milbank.com araval@milbank.com tlomazow@milbank.com Debtors' Special Corporate Counsel: Anna Meresidis, Esq. Thomas A. Monson, Esq. JENNER & BLOCK LLP 353 North Clark Street Chicago, IL 60654-3456 https://jenner.com/ Tel: 312.222.9350 Fax: 312-527-0484 E-mail: ameresidis@jenner.com tmonson@jenner.com Debtors' Tax Consultants: DELOITTE LLP Debtors' Special Regulatory Counsel: POTOMAC LAW GROUP, PLLC Debtors' Financial Advisor: FTI CONSULTING, INC. Debtors' Investment Banker: MOELIS & COMPANY Debtors' Notice, Claims, & Balloting Agent: PRIME CLERK LLC https://cases.primeclerk.com/inap Internap Technology's Estimated Assets: $0 to $50,000 Internap Technology's Estimated Liabilities: $100 million to $500 million The petitions were signed by Michael T. Sicoli, president and CFO. A copy of Internap Technology's petition is available for free at PacerMonitor.com at: https://is.gd/kgvU4z Consolidated List of Debtor's 30 Largest Unsecured Creditors: Entity Nature of Claim Claim Amount ------ --------------- ------------ 1. Burr Computer Environments, Inc. Trade Debt $3,090,336 Chip Beaver 10400 Rodgers Road Houston, TX 77070 Tel: 281-374-8644 Fax: 281-374-8992 Email: chip.beaver@bcei.com 2. Trace3 Inc Trade Debt $969,744 Cori Garcia 7565 Irvine Center Drive Suite #200 Los Angeles, CA 90084-7467 Tel: 720-668-6484 Fax: 949-333-2400 Email: cgarcia@trace3.com 3. Zayo Group Trade Debt $849,546 Stephen Tarr 6606 LBJ Freeway Dallas, TX 75240 Tel: 817-239-3455 Email: Stephen.Tarr@zayo.com 4. Equinix Inc Trade Debt $769,572 Andrew Hirschfeld 302 Knights Run Avenue Suite 700 Tampa, FL 33602 Andrew Hirschfeld Tel: 813-207-7119 Email: ahirschfeld@equinix.com 5. GI TC Seattle LLC Trade Debt $476,849 Tony Lin 188 The Embarcadero Suite 700 San Francisco, CA 94105 Tel: 415-688-4818 Fax: 415-688-4801 Email: tony@gipartners.com 6. Akamai Technologies Inc Trade Debt $428,514 Jason Boland 8 Cambridge Center Cambridge, MA 02142 Tel: 312-800-4107 Fax: 617-444-3001 Email: jboland@akamai.com 7. Dell Marketing LP Trade Debt $324,784 Michael Weldon One Dell Way Round Rock, TX 78682 Tel: 770-906-1696 Email: Michael.Weldon@Dell.com 8. XO Communications Inc Trade Debt $290,685 Jen Godboldt 455 Duke Dr Franklin, TN 37067 Tel: 615-481-5105 Email: jennifer.godboldt@verizon.com 9. Digital Realty Trust Trade Debt $271,425 Daniel Lane 2121 South Price Road Chandler, AZ 85286 Tel: 415-848-9308 Email: dlane@digitalrealty.com 10. CPUS West Frye Road, LP Trade Debt $244,306 Andi St. John 2575 East Camelback Road Suite 500 Phoenix, AZ 85016 Tel: 602-735-5622 Email: Andist.john@cbre.com 11. Lightower Fiber Networks Trade Debt $242,807 Kim Donohue 80 Central Street Boxborough, MA 01719 Tel: 617-285-8482 Email: kdonohue@lightower.com 12. Salesforce.com Trade Debt $230,591 Mallory Atkinson 950 East Paces Ferry Rd, NE #2800 Atlanta, GA 30326 Tel: 404-951-6710 Email: matkinson@salesforce.com 13. Verizon Trade Debt $220,651 Kyle Dennis 1 Verizon Way Basking Ridge, NJ 07920 Tel: 201-602-7915 Email: kyle.dennis@verizon.com 14. Redwood DC Assets LLC Trade Debt $217,364 Kim Donohue 251 Little Falls Drive Wilmington, DE 19808 Tel: 617-285-8482 Email: kdonohue@lightower.com 15. CenturyLink Trade Debt $204,817 Michael Speers 700 W Mineral Ave Littleton, CO 80120 Tel: 720-387-3562 Fax: 303-566-1005 Email: michael.speers@centurylink.com 16. Fusion WorldWide Trade Debt $194,664 George Denoncourt One Marina Park Drive Suite 305 Boston, MA 02210 Tel: 617-502-4125 Fax: 617 502-4137 Email: gdenoncourt@fusionww.com 17. Radware Trade Debt $190,994 Helen Simpson 575 Corporate Drive Lobby 2 Mahwah, NJ 07430 Tel: 201-512-9771 Fax: 201-512-9774 Email: HelenS@Radware.com 18. Connecticut General Life Benefits $188,274 Insurance Co. Provider Deanna McNabb 900 Cottage Grove Road Hartford, CT 06152 Tel: 423-954-5293 Email: deanna.mcnabb@cigna.com 19. SHI International Corp Trade Debt $184,988 Sheena Ohrman 290 Davidson Avenue Somerset, NJ 08873 Tel: 813-434-0285 Fax: 732-764-8889 Email: Sheena_Ohrman@shi.com 20. Global Telecom & Trade Debt $170,652 Technology Inc & Subsidiaries (GTT Inc) Terry Burka 251 Little Falls Drive Wilmington, DE 19808 Tel: 646-722-3021 Email: Terry.burka@mapletree.com.sg 21. Direct Energy Marketing Inc Trade Debt $168,403 dba Direct Energy Business Michael Ripper 1001 Liberty Avenue Pittsburgh, PA 15222 Tel: 800-830-5923 Email: michael.ripper@directenergy.com 22. Data Hardware Depot Trade Debt $142,850 John McGonagle 506 Chapala St. Santa Barbara, CA 93101 Tel: 860-944-3985 Email: john@dhd.com 23. Yancey Bros. Co. Trade Debt $138,801 Beth Tower 259 Lee Industrial Blvd Austell, GA 30168 Tel: 877-926-2398 Fax: 770-941-2411 Email: beth_tower@yanceybros.com 24. American Express Co Trade Debt $128,307 Melissa Lewis 18850 N 56th St Phoenix, AZ 85054 Tel: 623-492-4853 Email: Melissa.R.Lewis@aexp.com 25. Allied Universal Trade Debt $127,095 Security Services Sharon Underwood 1438 West Peachtree St. Suite 100 Atlanta, GA 30309 Tel: 603-998-4746 Fax: 404-541-9899 Email: sharon.underwood@abm.com 26. Servicenow, Inc Trade Debt $122,910 Jason Babson 2225 Lawson Lane Santa Clara, CA 95054-3311 Tel: 603-998-4746 Email: Jason.Babson@servicenow.com 27. Alert Logic Inc Trade Debt $118,266 Rhetta Bobo 1776 Yorktown St. Houston, TX 77056 Tel: 703-628-3077 Fax: 713.660.7988 Email: rhetta.bobo@alertlogic.com 28. Telia International Trade Debt $118,034 Carrier (Int'l) Tony Avino 95 Cromwell Road London London, SW74DC United Kingdom Tel: 703-628-3077 Email: tony.avino@teliasonera.com 29. Avant Communications Inc Trade Debt $113,015 Ron Hayman 153 W Ohio Street Suite 500 Chicago, IL 60654 Tel: 877-312-2826 Email: rhayman@goavant.net 30. LEL International, Inc. Pending Undetermined Justin L. Engel Litigation c/o Justin L. Engel, Bello Walsh LLP 125 Summer Street, Suite 1200 Boston, MA 02110 Tel: 617-209-5194 Fax: 617-247-4125 Email: JEngel@bellowelsh.com JACK COUNTY HOSPITAL: March 18 Meeting to Form Panel Cancelled -------------------------------------------------------------- The Jack County Hospital District March 18, 2020 in-person committee formation meeting will no longer take place at 10:00 a.m. at the Fritz G. Lanham Federal Building in Fort Worth, Texas, according to a notice from the U.S. Trustee's office. Completed questionnaires are still due by Tuesday, March 17, 2020 at 4:00 pm and should be emailed to elizabeth.a.young@usdoj.gov and erin.schmidt2@usdoj.gov A representative of the U.S. Trustee's Office will contact all creditors submitting a questionnaire to arrange for a telephonic interview to occur on the morning of March 18, 2020. Questions should be sent to Elizabeth Young and Erin Schmidt using the email addresses above. About Jack County Hospital District Jack County Hospital District, sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Tex. Case No. 20-40858) on Feb. 29, 2020. At the time of the filing, the Debtor estimated assets of between $10 million to $50 million and liabilities of between $10 million to $50 million. The petition was signed by Frank L. Beaman, chief executive officer. J. Robert Forshey, Esq. of Forshey & Prostok LLP is the Debtors' counsel. JEWELTEX ENTERPRISES: May Use Cash Collateral on Interim Basis -------------------------------------------------------------- Judge Brenda T. Rhoades authorized Jeweltex Enterprises, Inc., to use cash collateral to enable the Debtor to continue its business operations, which includes the operation of a jewelry store known as Sam's Fine Jewelry in the Firewheel Mall area. Specifically, the Debtor is authorized to use cash collateral (currently held at the Debtor's bank accounts at Hancock & Whitney and Navy Federal Credit Union) to incur costs related to providing repair services, costs of up to $10,000 to purchase new inventory for sale, as well as for health insurance. Substantially all of the Debtor's assets are potentially subject to the pre-petition liens of Kapitus, LLC, and Paypal, including liens on equipment, rents, furniture, fixtures, goods, general intangibles, accounts, contract rights and inventory. The Court ruled that: * the Debtor will pay to Kapitus and Paypal the regularly scheduled post-petition payments as they come due, as adequate protection pursuant to Section 363(e) of the Bankruptcy Code, * Kapitus and Paypal are granted valid, binding, enforceable, and perfected liens co-extensive with their pre-petition liens in all currently owned or hereafter acquired property and assets of the Debtor, as security for the use of the cash collateral until the interim hearing set for February 28, 2020. A copy of the interim order is available for free at https://is.gd/gNup3N from PacerMonitor.com. The dockets thereafter disclosed a continued hearing on the motion on March 24, 2020 at 9:30 a.m. About Jeweltex Enterprises Jeweltex Enterprises, Inc., owner of a jewelry store, sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Texas Case No. 20-40485) on Feb. 18, 2020. At the time of the filing, the Debtor had estimated assets of between $100,000 and $500,000 and liabilities of between $1 million and $10 million. Judge Brenda T. Rhoades oversees the case. The Mitchell Law Firm, L.P. is the Debtor's legal counsel. JMU LIMITED: Falls Short of NASDAQ Minimum Bid Price Requirement ---------------------------------------------------------------- JMU Limited had received a notice from the NASDAQ Stock Market LLC, dated March 2, 2020, notifying that, the Company is currently not in compliance with the minimum bid price requirement set forth under NASDAQ Listing Rule 5550(a)(2). It has resulted from the fact that the bid price of the Company's American depositary shares ("ADSs") closed below US$1 per share for the last 30 consecutive business days from Jan. 15, 2020 to Feb. 28, 2020. The Company has been granted a grace period of 180 calendar days, expiring on Aug. 31, 2020, in which to regain compliance. The Company will regain compliance if, at any time during this 180-day period, the closing bid price of the Company's ADSs is at least US$1 for a minimum of ten consecutive business days. In the event the Company does not regain compliance with the Rule within 180 calendar days, the Company may be eligible for additional time. The Company intends to monitor the closing bid price of its ADSs between now and Aug. 31, 2020 and intends to consider available options to cure the deficiency and regain compliance with the Rule's minimum bid price requirement within the prescribed grace period. The Company's ADSs will continue to be listed and trade on the NASDAQ Capital Market during this period, unaffected by the receipt of the written notice from NASDAQ. About JMU Limited Headquartered in Shanghai, People's Republic of China, JMU Limited currently operates an online platform for providing business-to-business services to food-industry suppliers and customers in China. Michael T. Studer CPA P.C., in Freeport, New York, USA, the company's auditor since 2019, issued a "going concern" qualification in its report dated June 28, 2019, citing that the Group experienced a net loss of approximately $25.3 million, $161.9 million and $123.2 million for the years ended Dec. 31, 2016, 2017 and 2018, respectively, and negative cash flows from operations of approximately $5.8 million, $9.9 million and $4.3 million for the years ended Dec. 31, 2016, 2017 and 2018, respectively. As at Dec. 31, 2018, the Group's current liabilities exceeded its current asset by $15.7 million and there was a capital deficiency of $22.2 million. These conditions raise substantial doubt about the Group's ability to continue as a going concern. JMU LIMITED: Haohan Xu Has 31.2% Stake as of March 11 ----------------------------------------------------- Haohan Xu reported in an amended Schedule 13D filed with the Securities and Exchange Commission that as of March 11, 2020 he beneficially owns 896,477,774 ordinary shares, par value US$0.00001 per share, of JMU Limited, which represents 31.23 percent of the shares outstanding. Amazon Capital Inc. also disclosed beneficial ownership of 574,131,836 Common Shares as of that date. Mr. Xu is a director of the JMU Limited. Mr. Xu's business address is 12 East 49 Street, 17th Floor, New York, New York 10017. He currently is the chief executive officer of Apifiny Group Inc., a company providing global digital asset trading platform services. Amazon Capital Inc. is a company incorporated under the laws of the State of New York. Amazon Capital Inc. is an investment holding company wholly owned by Haohan Xu. The principal business address of Amazon Capital Inc. is 199 Water Street, 33rd Floor, New York, NY 10038. On March 12, 2020, Mr. Xu transferred 114,825,600 Ordinary Shares to Universal Hunter (BVI) Limited with a consideration price of US$401,890 pursuant to an oral agreement with Universal Hunter. On March 12, 2020, Haohan Xu transferred 574,131,836 Ordinary Shares to Amazon Capital Inc. which is wholly owned by Haohan Xu. As such, Haohan Xu may exercise voting and dispositive power over these Ordinary Shares held by Amazon Capital Inc. A full-text copy of the regulatory filing is available for free at: https://is.gd/38F0zt About JMU Limited Headquartered in Shanghai, People's Republic of China, JMU Limited currently operates an online platform for providing business-to-business services to food-industry suppliers and customers in China. Michael T. Studer CPA P.C., in Freeport, New York, USA, the company's auditor since 2019, issued a "going concern" qualification in its report dated June 28, 2019, citing that the Group experienced a net loss of approximately $25.3 million, $161.9 million and $123.2 million for the years ended Dec. 31, 2016, 2017 and 2018, respectively, and negative cash flows from operations of approximately $5.8 million, $9.9 million and $4.3 million for the years ended Dec. 31, 2016, 2017 and 2018, respectively. As at Dec. 31, 2018, the Group's current liabilities exceeded its current asset by $15.7 million and there was a capital deficiency of $22.2 million. These conditions raise substantial doubt about the Group's ability to continue as a going concern. KINGMAN FARMS: 5212 Spanish Heights Is Equity Investor in Plan -------------------------------------------------------------- Kingman Farms Ventures, LLC, filed a Third Amended Disclosure Statement to for its Plan of Reorganization. The newest iteration of the Disclosure Statement, among other things, discloses that the New Equity Investor is proposed to be 5212 Spanish Heights, LLC, who will provide the New Capital Contribution in exchange for the New Equity Interests under this Plan. The sole member of 5212 Spanish Heights, LLC is 5212 Holding LLC. 5212 Holding LLC is owned 100% by The James M. Rhodes Irrevocable Children's Education Trust. John Rhodes, brother of James M. Rhodes, is the trustee of the trust. James M. Rhodes is the manager of 5212 Holding LLC. A red-lined copy of the Third Amended Disclosure Statement dated March 2, 2020, is available at https://tinyurl.com/qvnlm6t from PacerMonitor.com at no charge. Attorneys for the Debtor : NEDDA GHANDI, ESQ. SHARA L. LARSON, ESQ. GHANDI DEETER BLACKHAM 725 South 8th Street, Suite 100 Las Vegas, Nevada 89101 Telephone: (702) 878-1115 (702) 281-5163 Facsimile: (702) 979-2485 E-mail: nedda@ghandilaw.com shara@ghandilaw.com About Kingman Farms Ventures Kingman Farms Ventures, LLC, is a privately-held company that operates in the crop farms industry located in Las Vegas, Nevada. Kingman Farms Ventures sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Nev. Case No. 18-10180) on Jan. 16, 2018. In the petition signed by James R. Rhodes, president of Truckee Springs Holdings, Inc., manager of the Debtor, the Debtor was estimated to have assets and liabilities of $10 million to $50 million. Judge Laurel E. Davis is the presiding judge. Deeter Blackham is the Debtor's legal counsel. LEAWOOD PROPERTIES: U.S. Trustee Unable to Appoint Committee ------------------------------------------------------------ The Office of the U.S. Trustee on March 12, 2020, disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of Leawood Properties, LLC. About Leawood Properties Based in Leawood, Kansas, Leawood Properties, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Kan. Case No. 20-20182) on Feb. 4, 2020, listing under $1 million in both assets and liabilities. Judge Robert D. Berger oversees the case. Erlene W Krigel, Esq., at Krigel & Krigel, is the Debtor's legal counsel. LEOLAND MCGUIRE: Seeks to Hire Corral Tran as Counsel ----------------------------------------------------- Leoland McGuire & Associates, LLC, seeks authority from the U.S. Bankruptcy Court for the Southern District of Texas to employ Corral Tran Singh, LLP, as counsel to the Debtor. Leoland McGuire requires Corral Tran to: a. analyze the financial situation, and render advice and assistance to the Debtor; b. advise the Debtor with respect to its rights, duties, and powers as a debtor in the bankruptcy case; c. represent the Debtor at all hearings and other proceedings; d. prepare and file of all appropriate petitions, schedules of assets and liabilities, statements of affairs, answers, motions and other legal papers as necessary to further the Debtor's interests and objectives; e. represent the Debtor at any meeting of creditors and such other services as may be required during the course of the bankruptcy proceedings; f. represent the Debtor in all proceedings before the Court and in any other judicial or administrative proceeding where the rights of the Debtor may be litigated or otherwise affected; g. prepare and file of a Disclosure Statement and Chapter 11 Plan of Reorganization; h. assist the Debtor in analyzing the claims of the creditors and in negotiating with such creditors; and i. assist the Debtor in any matters relating to or arising out of the captioned case. Corral Tran will be paid at these hourly rates: Susan Tran Adams 350 Brendon Singh 375 Adam Corral 350 Krystyna Salinas 275 Corral Tran will also be reimbursed for reasonable out-of-pocket expenses incurred. Brendon Singh, partner of Corral Tran Singh, 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. Corral Tran can be reached at: Brendon Singh, Esq. CORRAL TRAN SINGH, LLP 1010 Lamar St., Suite 1160 Houston TX 77002 Tel: (832) 975-7300 Fax: (832) 975-7301 E-mail: brendon.singh@ctsattorneys.com About Leoland McGuire & Associates Leoland McGuire & Associates, LLC, filed a Chapter 11 bankruptcy petition (Bankr. S.D. Tex. Case No. 20-31360) on Feb. 28, 2020, disclosing under $1 million in both assets and liabilities. The Debtor is represented by Brendon Singh, Esq., at Corral Tran Singh, LLP. LIVING EPISTLES: Hopsons Buying Milwaukee Property for $100K ------------------------------------------------------------ Living Epistles Church of Holiness, Inc. asks the U.S. Bankruptcy Court for the Eastern District of Wisconsin to authorize the sale of the real estate located at 4300 West Burleigh Street, Milwaukee, Wisconsin to Hopsons Kiddie Kare, LLC for $100,000. The Debtor acquired the real estate located at the Property in 1999, with an eye towards leasing the Property out as a day care. This had two principal benefits for the Debtor: raising revenue to support its church, and attracting young families to join the church. It initially leased the Property to an entity operated by insiders -- Pastor Terry Taper and his wife. Subsequently, however, when Pastor Taper's wife Jacqueline Taper suffered health problems and was no longer able to be actively involved in operating a day care, the Debtor leased the Property to an unrelated third party, Hopsons, for $2,500 a month. The Debtor now proposes to reduce its secured debt to First Citizens Bank & Trust and in so doing emerge from Chapter 11 through what is hoped to be a consensual plan of reorganization. It proposes to sell the Property to Hopsons for $100,000, which the Debtor believes to be a fair price for the Property. Selling the Property to the current tenant, without the need for hiring a real estate broker, will save the Debtor transaction costs. The Debtor and Hopsons have negotiated at some length for the transaction. Under the terms of the accepted Offer to Purche, Hopsons will pay all closing costs for the sale and will assume the liability for 2019 and 2020 City of Milwaukee real estate taxes on the Property. The closing is to occur by April 15, 2020. First Citizens has a perfected first priority mortgage on the Property. It will receive all net proceeds of the sale. It is appropriate that it do so, because its lien is prior to any other encumbrance on the Property, except 2019 and 2020 City of Milwaukee real estate taxes on the Property. The only other potential encumbrances against the Property are judgment liens held by the City of Milwaukee and the Milwaukee Board of School Directors. Those judgment liens do not currently attach to any equity in the Property, and the sale will be free and clear of such liens. The Debtor asks the order approving the proposed sale waives the 14-day stay of an order granting the Motion, pursuant to Fed. R. Bankr. P. 6004(h). A copy of the Offer is available at https://tinyurl.com/whftcsp from PacerMonitor.com free of charge. About Living Epistles Living Epistles Church of Holiness Inc., a tax-exempt religious organization, filed Chapter 11 petition (Bankr. E.D. Wisc. Case No. 19-25789) on June 12, 2019. At the time of filing, the Debtor was estimated to have $1 million to $10 million in assets and $1 million to $10 million in liabilities. LIZAMA CARRIERS: Gets Interim OK to Access Cash Collateral ---------------------------------------------------------- The Bankruptcy Court authorized Lizama Carriers, LLC, to use cash collateral (in which Pearl Delta Funding, LLC and Commercial Credit Group Inc., any other secured creditor have interest) on an interim basis, pending final hearing on the motion. As adequate protection, Pearl and CCG are granted senior-priority replacement liens on the Debtor's post-petition accounts receivable and proceeds of collection of Debtor's accounts receivable in the same priority existing before the Petition Date, to the extent of diminution in the value of the secured creditor's interest in the property on which said creditor holds a validly perfected and unavoidable lien. The three-month budget through the month of April 2020 provided for $346,666.67 in payroll, $50,000 in repairs and $24,500 for adequate protection (trucks), a copy of which is available free of charge at https://is.gd/SOJsNe from PacerMonitor.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. LK SAVAGE: U.S. Trustee Unable to Appoint Committee --------------------------------------------------- The U.S. Trustee, until further notice, will not appoint an official committee of unsecured creditors in the Chapter 11 case of LK Savage & Associates, Inc., according to court dockets. About LK Savage & Associates LK Savage & Associates, Inc. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Fla. Case No. 20-30088) on Jan. 30, 2020. At the time of the filing, the Debtor had estimated assets of between $100,001 and $500,000 and liabilities of between $500,001 and $1 million. Judge Henry A. Callaway oversees the case. Natasha Z. Revell, Esq., at Zalkin Revell, PLLC is the Debtor's legal counsel. MAISON PREMIERE: Makes Immaterial Modifications to Plan ------------------------------------------------------- DWD-LaFitte, LLC, modified its Chapter 11 Plan of Reorganization, and Accompanying Disclosure Statement to include a reference to the Trademark, Service Mark and Works License Agreement with Brooklyn Philly Venture, LLC, only recently identified by MAISON PREMIERE CORP. The DWD Plan is hereby amended to add the underlined language to section 7.1 of the DWD Plan: Assumption and Rejection of Executory Contracts and Leases. As of the Effective Date, and in accordance with the provisions and requirements of Sec. 365 and 1123 of the Bankruptcy Code, the Debtor shall be deemed to have assumed: (a) its non-residential real property lease with Lisa Carbonara covering the Debtor's business premises; and (b) a month-to-month lease agreement with Auto-Chlor System for a commercial dishwasher. All other Executory Contracts or Unexpired Leases to which the Debtor is a party as of the Effective Date which were not previously rejected, assumed, or assumed and assigned by the Debtor shall be deemed rejected and disaffirmed under the DWD Plan as of the Effective Date in accordance with the provisions and requirements of Sec. 365 and 1123 of the Bankruptcy Code; provided however that DWD specifically reserves the right to assume that certain Trademark, Service Mark and Works License Agreement with Brooklyn Philly Venture, LLC once DWD has had an opportunity to review it. DWD has sought production of this agreement from the Debtor. The DWD DS is amended to add the underlined language to Art. Vof the DWD DS: DWD is not aware of any other leases or executory contracts to which the Debtor may have been a party to as of the Petition Date. The DWD Plan nevertheless provides that any such executory contracts or unexpired leases which were not previously rejected, assumed, or assumed and assigned by the Debtor will be deemed rejected and disaffirmed under the DWD Plan as of the Effective Date in accordance with the provisions and requirements of Sec. 365 and 1123 of the Bankruptcy Code; provided however that DWD specifically reserves the right to assume that certain Trademark, Service Mark and Works License Agreement with Brooklyn Philly Venture, LLC, once DWD has had an opportunity to review it. DWD has sought production of this agreement from the Debtor. All proofs of claim with respect to any Claims arising from the rejection of executory contracts or unexpired leases must be filed with the Bankruptcy Court within 30 days after the mailing of notice of the entry of the Confirmation Order. The failure of any such counter party to file a proof of claim within the period proscribed will forever bar it from asserting such Claim against the Estate or any Claim for damages arising from the rejection of its executory contract or unexpired lease with the Debtor. The filing of any such proof of claim shall be without prejudice to any and all rights that DWD and/or the Debtor may have to object to the allowance thereof on any and all available grounds. DWD submits that the above modifications are non-material and does not change the proposed treatment of creditors under the DWD Plan. The DWD DS has not yet been approved. Accordingly, the DWD Plan has not yet been served or votes thereon solicited. A full-text copy of the Modification dated March 2, 2020, is available at https://tinyurl.com/wnvr9zz from PacerMonitor.com at no charge. Counsel for DWD-LaFitte, LLC: Michelle McMahon, Esq. Sophia Hepheastou, Esq CULLEN AND DYKMAN, LLP 44 Wall Street New York, New York 10005 Tel: (212) 732-2000 E-mail: mmcmahon@cullenllp.com shepheastou@cullenllp.com - and - David Edelberg, Esq. 433 Hackensack Ave. Hackensack, NJ 07601 Tel: (201) 488-1300 E-mail: dedelberg@cullenllp.com About Maison Premiere Corp. Maison Premiere -- https://maisonpremiere.com/ -- owns and operates an oyster bar, cocktail den & seafood restaurant in Brooklyn, New York. Sauvage -- https://sauvageny.com/ -- is a restaurant in Greenpoint, New York, that serves breakfast, lunch, dinner, brunch, wines, cocktails, and desserts. Maison Premiere Corp., owner of Williamsburg oyster bar Maison Premiere, and Lafitte LLC, owner of French restaurant Sauvage, sought Chapter 11 protection (Bankr. E.D.N.Y. Lead Case Nos. 19-43359 and 19-43360) on May 31, 2019. The Hon. Elizabeth S. Stong is the case judge. PICK & ZABICKI LLP is the Debtors' counsel. MCDERMOTT INTERNATIONAL: U.S. Trustee Unable to Appoint Committee ----------------------------------------------------------------- The Office of the U.S. Trustee on March 12, 2020, disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of McDermott International, Inc. About McDermott International 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 was/is listed on the New York Stock Exchange under the trading symbol MDR. 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. On Jan. 21, 2020, McDermott International announced that it has the support of more than two-thirds of all its funded debt creditors for a restructuring transaction that will equitize nearly all the Company's funded debt, eliminating over $4.6 billion of debt. McDermott solicited votes from its lenders and bondholders in support of a prepackaged Chapter 11 Plan of Reorganization and commenced the prepackaged Chapter 11 later in the day, on Jan. 21, 2020 in the U.S. Bankruptcy Court for the Southern District of Texas. McDermott International and 224 affiliates on Jan. 21 and 22, 2020, filed Chapter 11 bankruptcy petitions (Bankr. Lead Case No. 20-303360). The Hon. Marvin Isgur is the case judge. The Debtors tapped Kirkland & Ellis LLP (New York) as general bankruptcy counsel; Jackson Walker L.L.P. as local counsel; Alixpartners, LLP as restructuring advisor; AP Services, LLC as operational advisor; Arias, Fabrega & Fabrega as Panamanian counsel; and Baker Botts L.L.P. as corporate counsel. Prime Clerk is the claims agent, maintaining the page https://cases.primeclerk.com/mcdermott MGM RESORTS: Moody's Reviews Ba3 CFR for Downgrade on Coronavirus ----------------------------------------------------------------- Moody's Investors Service placed the ratings of MGM Resorts International on review for downgrade, including its Ba3 Corporate Family Rating, Ba3-PD Probability of Default Rating, and Ba3 rated senior unsecured notes. At the same time, Moody's placed the Ba3 rating on the senior unsecured notes of MGM China Holdings Limited on review for downgrade. MGM's SGL-1 speculative-grade liquidity rating is not affected. "The review for downgrade is prompted by steep declines in visitation and gaming revenue at MGM's properties in Macau as a result of the spread of the coronavirus that has restricted travel in the region, as well as expected reduced travel, consumer and business activity in the US" stated Adam McLaren, Moody's gaming analyst. Moody's expects efforts to contain the spread of the coronavirus to reduce casino visitation in the US for an unknown period, particularly the Las Vegas strip because business travel, conferences, and independent leisure travel will decline. The coronavirus is already having a negative effect on MGM's Macau casinos because containment efforts reduced visitation including closing for 15 days in the month of February. While MGM's Macau casinos have reopened, the ramp up of visitation and gaming revenue will take time as travel restrictions remain in the region. MGM's exposure to Macau, albeit lower than its competitors, represents approximately 23% of total revenue. On Review for Downgrade: Issuer: MGM China Holdings Limited Senior Unsecured Regular Bond/Debenture, Placed on Review for Downgrade, currently Ba3 (LGD4) Issuer: MGM Resorts International Probability of Default Rating, Placed on Review for Downgrade, currently Ba3-PD Corporate Family Rating, Placed on Review for Downgrade, currently Ba3 Senior Unsecured Shelf, Placed on Review for Downgrade, currently (P)Ba3 Senior Unsecured Regular Bond/Debenture, Placed on Review for Downgrade, currently Ba3 (LGD4) Outlook Actions: Issuer: MGM China Holdings Limited Outlook, Changed To Rating Under Review From No Outlook Issuer: MGM Resorts International Outlook, Changed To Rating Under Review From Positive RATINGS RATIONALE The rapid and widening spread of the coronavirus outbreak, deteriorating global economic outlook, falling oil prices, and asset price declines are creating a severe and extensive credit shock across many sectors, regions and markets. The combined credit effects of these developments are unprecedented. The gaming sector has been one of the sectors most significantly affected by the shock given its sensitivity to consumer demand and sentiment. More specifically, the weaknesses in MGM's credit profile, including its exposure to Macau and Las Vegas have left it vulnerable to shifts in market sentiment in these unprecedented operating conditions and MGM remains vulnerable to the outbreak continuing to spread. Moody's regards the coronavirus outbreak as a social risk under its ESG framework, given the substantial implications for public health and safety. The action reflects the impact on MGM of the breadth and severity of the shock, and the broad deterioration in credit quality it has triggered. MGM's Ba3 Corporate Family Rating benefits from its large scale, a diversified presence on the Las Vegas Strip across multiple customer segments, a solid position within several regional markets, and its presence in the large Macau market with favorable long-term prospects. MGM is constrained by its concentration in Las Vegas, exposure to the Macau gaming market that is experiencing volatility and the ramp-up risk associated with recent resort developments - MGM Cotai (opened in Q1 2018) and MGM Springfield (opened in August 2018) and the redeveloped Park MGM (completed in December 2018) and integration of recent acquisitions (Empire City and MGM Northfield Park). The review will focus on MGM's ability to preserve its liquidity during this period of significant earnings decline, the ramp of visitation and gaming revenue in Macau, and the impact on future travel and visitation from the spread of the coronavirus globally, including in the United States. MGM currently has very good liquidity sources from significant cash and unused revolver capacity, but Moody's will assess the potential length and severity of the drop in visitation and revenue, and the effect on the company's credit metrics and liquidity. Moody's will also evaluate MGM's ability to reduce expenses and take other actions to preserve cash. MGM owns and operates casino resorts in Las Vegas, Nevada; Springfield, Massachusetts; and, through its majority ownership stake of MGM China Holdings Limited, the MGM Macau resort and casino and MGM Cotai, which opened in February 2018. MGM also owns 50% of CityCenter in Las Vegas and a majority stake in MGM Growth Properties (MGP), a real estate investment trust formed in April 2016. MGM has entered into a long-term triple net master lease with MGP pursuant to which the company leases and operates 14 properties for MGP. Consolidated net revenue for the year ended December 31, 2019 was approximately $12.9 billion. The principal methodology used in these ratings was Gaming Industry published in December 2017. MILLMAC CORPORATION: Wins Final Nod on Cash Collateral Request -------------------------------------------------------------- Judge Michael G. Williamson authorized Millmac Corporation to use cash collateral, on a final basis, pursuant to the budget. Pursuant to the final order, JPMorgan Chase Bank, NA, is granted replacement liens upon all categories and types of collateral in which it held a security interest and lien as of the Petition Date to the same extent, validity and priority held as of the Petition Date. Moreover, the Debtor is authorized to make a monthly payment to JPMorgan in the amount of $1,670.42 as additional adequate protection. A copy of the final order is available free of charge at https://is.gd/qwfbDe from PacerMonitor.com. 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. The U.S. Trustee did not appoint an official committee of unsecured creditors in the Chapter 11 case. MINOTAUR ACQUISITION: Moody's Alters Outlook on B3 CFR to Negative ------------------------------------------------------------------ Moody's Investors Service affirmed Minotaur Acquisition, Inc.'s B3 corporate family rating, B2 $610 million senior secured first lien term loan and $90 million revolving credit facility, and affirmed its Caa2 $245 million second lien term loan. Minotaur is the debt-issuing entity of Millennium Trust Company, LLC (Millennium). Concurrently, Moody's has changed the outlook on Minotaur to negative from stable. The following ratings were affirmed: Issuer: Minotaur Acquisition, Inc. Corporate Family Rating, Affirmed at B3 $90 million Senior Secured First Lien Revolving Credit Facility, Affirmed at B2 $610 million Senior Secured First Lien Term Loan, Affirmed at B2 $245 million Senior Secured Second Lien Term Loan, Affirmed at Caa2 Outlook Actions: Issuer: Minotaur Acquisition, Inc. Outlook, Changed to Negative from Stable RATINGS RATIONALE Moody's said the ratings' affirmation reflects Millennium's growing client cash balance base, strong EBITDA margin and market leadership in the automatic rollover individual retirement account (IRA) market. The ratings' affirmation also reflects its prudent approach to its cash sweep program, which is laddered over a number of years and benefits from fixed deposit arrangements with partner banks. This deposit program was implemented during periods of relatively higher interest rates, allowing Millennium to earn higher interest-related income than the current rates' environment would suggest, said Moody's. The change in outlook to negative from stable reflects Moody's expectation of declining revenue and profitability starting in 2021/2022. The recent Federal Reserve Board (Fed) cut to the fed funds rate to the 0%-0.25% range is credit negative for Minotaur because as deposits mature and as new cash balances are added to Millennium's platform, they will be rolled into new deposit programs with partner banks and priced at rates that exist at the time, and these rates are likely to be lower than the rates Millennium is currently contracted to earn. Based on the laddering of Millennium's existing cash sweeps, Moody's expects its profitability to be significantly impacted by lower rates starting in the second half of 2021. Moody's said that the profitability challenges could be buffered should growth in non-interest-rate-linked revenue continue to grow sufficiently enough to offset the declining deposit fees. However, given the sizable revenue base the cash sweep program offers, it would be a challenge for Millennium to wholly offset the anticipated revenue decline. In December 2018, Abry Partners agreed to make a significant investment in Minotaur. Moody's said the transaction resulted in a significant increase in Minotaur's leverage, leaving little room for additional debt at the current rating level. Minotaur borrowed around $850 million, an increase of over $500 million from its debt balance at December 2018 and maturities are in March 2024 for the $90 million revolving credit facility, March 2026 for the $610 million first lien term loan and March 2027 for the $245 million second lien term loan. Moody's expects the lower interest rate environment to increase Minotaur's debt leverage from 6.2x in 2019 (Moody's estimate and after adjusting to remove acquisition-related expenses) to around 6.7x for the full year 2020 and 7.1x for 2021. Consistent with its negative outlook, Moody's expects Minotaur's elevated debt leverage to remain a key credit challenge, particularly in light of lower short-term interest rates, which would significantly impact Minotaur's revenue model in 2022. In its assessment of the firm's corporate governance, Moody's considers Minotaur's majority-ownership by a financial sponsor, with a minority position held by certain members of the management team. Minotaur's governance structure and financial policy is representative of a financial sponsor portfolio company, with potential for periodic increases in leverage. However, given the current interest rate environment, Moody's expects Minotaur to focus on organic growth, complementing occasional smaller non-debt funded acquisitions. Factors that could lead to an upgrade: Given the negative outlook, an upgrade of Minotaur's ratings is unlikely in the near future. Factors that could lead to a stable outlook include: - Significant expansion of existing revenue streams or the development of new revenue sources within the self-directed IRA or fund custody activities that would successfully help offset some of the foregone revenue due to lower interest rates - The demonstration of a more creditor-friendly financial policy such as paying down debt or organically deleveraging to levels below 6.5x Factors that could lead to a downgrade: - Moody's said that the ratings could be downgraded should it become clear that leverage levels are likely to be above 7.5x in 2022 - The demonstration of increasingly aggressive financial policies through the distribution of shareholder dividends or a further increase in debt leverage to fund acquisitions - Interest rates remaining very low and resulting in significant profitability erosion not offset by cost management or other revenue streams - A significant deterioration in franchise value from legal, regulatory or compliance issues that would increase costs and damage relations with record-keepers and plan sponsors The principal methodology used in these ratings was Securities Industry Service Providers Methodology published in November 2019. MUSTAIN MILK: Seeks to Hire Collins Webster as Legal Counsel ------------------------------------------------------------ Mustain Milk Transport, LLC seeks authority from the U.S. Bankruptcy Court for the Western District of Missouri to hire Collins, Webster & Rouse P.C. as its legal counsel. The firm will provide these services in connection with the Debtor's Chapter 11 case: (a) examine the affairs of the Debtor as to its acts, conduct and property; (b) prepare records and reports required by bankruptcy laws; (c) prepare applications and proposed orders to be filed with the court; (d) identify and prosecute claims and causes of action assertable by the Debtor; (e) examine proofs of claim against the Debtor and prosecute objections to such claims; (f) prepare documents in connection with the ongoing operation of the Debtor's business; (g) prepare documents in connection with the liquidation and reorganization of assets of the estate; and (h) assist the Debtor in performing other functions as set forth in the Bankruptcy Code. Collins' hourly rates are: Norman Rouse $220 Paralegal $85 Collins received a retainer in the amount of $8,000. Norman Rouse, Esq., at Collins Webster, attests that the firm does not represent interests adverse to the Debtor. The firm can be reached through: Norman E. Rouse, Esq. Collins, Webster & Rouse P.C. 5957 E. 20th Street Joplin, MO 64801 Phone: (417) 782-2222 Fax: (417) 782-1003 Email: roberta@cwrcave.com About Mustain Milk Transport Mustain Milk Transport, LLC, owner of a milk transport company in Pineville, Mo., sought protection under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Mo. Case No. 20-30077) on Feb. 25, 2020, listing under $1 million in both assets and liabilities. Judge Brian T. Fenimore oversees the case. The Debtor tapped Norman E. Rouse, Esq., at Collins, Webster & Rouse P.C., as its legal counsel. NAI CAPITAL: U.S. Trustee Appoints Creditors' Committee ------------------------------------------------------- The Office of the U.S. Trustee on March 12, 2020, appointed a committee to represent unsecured creditors in the Chapter 11 case of NAI Capital, Inc. The committee members are: (1) Venox Realty, Inc. Representative: Fred Ferro 300 Esplanade Dr. #600 Oxnard, CA 93036 Tel: (805) 288-5469 Cell: (805) 660-1727 Email: fjferro51@gmail.com (2) The Sheridan Group Representative: Dannine Sheridan Representative: Chris Sheridan 2045 Pontius Avenue Los Angeles, CA 90025 Tel: (310) 575-0664 Email: dsheridan@sheridaninc.com csheridan@sheridaninc.com (3) Linzer Law Group, P.C. Representative: Kenneth A. Linzer c/o Linzer Law Group, P.C. 12100 Wilshire Blvd., Suite 1090 Los Angeles, CA 90025 Tel: (310) 826-2627 Email: klinzer@linzerlaw.com (4) Brian Childs Representative: Brian Childs 27102 Lost Colt Laguna Hills, CA 92653 Tel: (949) 279-7200 Email: bchilds@naicapital.com (5) Cimarron Sign Services, Inc. Representative: James Slipe 21360 Deering Court Canoga Park, CA 91304 Tel: (818) 702-9102 Email: jim@cimarronsibns.com Official creditors' committees serve as fiduciaries to the general population of creditors they represent. They may investigate the debtor's business and financial affairs. Committees have the right to employ legal counsel, accountants and financial advisors at a debtor's expense. About NAI Capital NAI Capital, Inc. is a commercial real estate and property management company based in Encino, Calif. It specializes in the leasing and sale of office, the sale of investments, land and residential income, tenant representation, and corporate services. NAI Capital was founded in 1979. NAI Capital filed a Chapter 11 petition (Bankr. C.D. Cal. Case No. 20-10256) on Jan. 31, 2020. In the petition signed by Chris Jackson, executive managing director and authorized agent, the Debtor was estimated to have up to $1 million to $10 million in both assets and liabilities. The Hon. Deborah J. Saltzman oversees the case. Levene Neale Bender, Yoo & Brill LLP serves as bankruptcy counsel. McGarrigle Kenney & Zampiello, APC is the special litigation and special corporate counsel. NAJEEB KHAN: Trustee Selling Scottsdale Property for $2.2M ---------------------------------------------------------- Mark T. Iammartino, as the Chapter 11 Trustee for the estate of Najeeb Ahmed Khan, asks the U.S. Bankruptcy Court for the Western District of Michigan, to authorize the sale of the real property located at 10040 E. Happy Valley Road, #789, Scottsdale, Arizona to Philip Clifford Robbs and Claudia Lynay Robb for $2,230,300. The Debtor and Mrs. Khan are title holders of the property. The property has been on the open market for nearly five months through Russ Lyon Sotheby's International Realty. Pursuant to the Purchase Contract, the Buyers have agreed to purchase the Property for the sum of $2,230,300. The total commission due at closing, to be paid from the proceeds of the sale, is 6% of the Purchase Price pursuant to the terms of the Broker’s listing agreement. The Buyers have required a closing by March 6, 2020. The sale will be free and clear of all liens, interests and encumbrances, with such liens, interests, and encumbrances attaching to the proceeds of the sale. There is ample reason to approve the sale as an exercise of the Chapter 11 Trustee's sound business judgment. Among other things: (a) the proposed sale represents a reasonable offer for the Property, and (b) it permits the Chapter 11 Trustee to quickly convert the Property into cash at a fair price, based on the Chapter 11 Trustee's assessment of the market. 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 Contract is available at https://tinyurl.com/tuelkpj from PacerMonitor.com free of charge. About Najeeb Ahmed Khan Najeeb Ahmed Khan sought Chapter 11 protection (Bankr. W.D. Mich. Case No. 19-04258) on Oct. 8, 2019. The Debtor tapped Denise D. Twinney, Esq., and Robert F. Wardrop, II, Esq., at Wardrop & Wardrop. P.C., as counsel. On Oct. 29, 2019, the Court appointed Mark. T. Iammartino, as the Chapter 11 Trustee. The Trustee's counsel: Nicholas M. Miller Thomas C. Wolford NEAL, GERBER & EISENBERG LLP Two N. LaSalle Street, Suite 1700 Chicago, IL 60602 Telephone: (312) 269-8000 Facsimile: (312) 269-1747 E-mail: nmiller@nge.com twolford@nge.com - and - Rachel L. Hillegonds MILLER, JOHNSON, SNELL & CUMMISKEY, P.L.C. 45 Ottawa Ave. SW, Suite 1100 Grand Rapids, MI 49503 Telephone: (616) 831-1711 Facsimile: (616) 831-1701 E-mail: hillegondsr@millerjohnson.com On Nov. 1, 2019, the U.S. Trustee appointed an official committee of unsecured creditors. NAPHTHA ENTERPRISES: Unsecureds to Recover 33% in Plan ------------------------------------------------------ Naphtha Enterprises, LLC, filed a Plan of Reorganization and a Disclosure Statement. Naphtha's Plan is based on future income from bids awarded postpetition which will be the sole source of monthly revenue for payment of Allowed Claims under the Plan. Naphtha calculates that the amount projected to be paid to the General Unsecured Creditor Class satisfies the Best Interest of Creditors Test as required by the Code. All other Claims will be paid as required by the Code, prepetition loan and security documents, or as otherwise agreed to by creditor(s) on a consensual basis as further described in this Disclosure Statement. General Unsecured Claims totaling $2,418,395, including $975,796 listed of the Debtor, will be paid 33 percent or a total of $806,132 over 72 months with interest at 5.00%. Monthly payments in the total amount of $11,394 will be made beginning on the Effective Date with like payments to be on the 15th day of each succeeding month until the total of $806,132 is paid. All payments will be shared pro rata amongst the Class 9 creditors. A full-text copy of the Disclosure Statement dated March 2, 2020, is available at https://tinyurl.com/v66f4yv from PacerMonitor.com at no charge. Attorneys for Naphtha Enterprises: Carlos A. Miranda, Esq. Carlos G. Maldonado, Esq. MIRANDA & MALDONADO, P.C. 5915 Silver Springs, Bldg. 7 El Paso, Texas 79912 Tel: (915) 587-5000 Fax: (915) 587-5001 E-mail: cmiranda@eptxlawyers.com cmaldonado@@eptxlawyers.com About Naphtha Enterprises Naphtha Enterprises LLC, a privately held company in the oil and gas extraction business, sought protection under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Tex. Case No. 19-31258) on July 31, 2019. At the time of the filing, the Debtor had estimated assets of between $100,000 and $500,000 and liabilities of between $1 million and $10 million. The case is assigned to Judge H. Christopher Mott. The Debtor tapped Miranda & Maldonado, P.C. as its legal counsel. NASCAR HOLDINGS: Moody's Reviews Ba2 CFR for Downgrade on COVID-19 ------------------------------------------------------------------ Moody's Investors Service placed NASCAR Holdings, Inc.'s ratings on review for downgrade, including the Ba2 corporate family rating, Ba2-PD Probability of Default Rating, and Ba2 first lien credit facility ratings (including a senior secured revolver and term loan) due to the coronavirus outbreak's potential impact on NASCAR's ability to hold race events, as well as the negative effects on consumer sentiment and the overall economy. NASCAR announced on March 13, 2020 that two upcoming NASCAR events will be postponed due the coronavirus. The review for downgrade will focus on any additional changes to NASCAR's ability to hold future races, leverage levels, interest coverage, and the company's liquidity position. The rating outlook was changed from stable to ratings under review. Issuer: NASCAR Holdings, Inc. Corporate Family Rating, Placed on Review for Downgrade, currently Ba2 Probability of Default Rating, Placed on Review for Downgrade, currently Ba2-PD Senior secured revolver due 2024, Placed on Review for Downgrade, currently Ba2 Senior secured term loan B due 2026, Placed on Review for Downgrade, currently Ba2 Outlook Actions: Issuer: NASCAR Holdings, Inc. Outlook, Changed To Rating Under Review From Stable RATINGS RATIONALE The review for downgrade reflects the coronavirus' impact on the ability for NASCAR to hold large spectator events and the negative pressures on the overall economy. NASCAR owns the sanctioning body and is the largest track owner of NASCAR as well as other race events. The company also has a joint venture in a casino at its Kansas racetrack which may also be negatively affected by fears of the coronavirus. NASCAR has had multiyear declines in attendance due to reduced fan interest in NASCAR racing. Several changes to the sport have been made to increase fan interest and attract different demographic groups, but reduced fan interest is expected to continue to be a challenge for the company. Results are also sensitive to weather conditions during race events. NASCAR benefits from two TV broadcast agreements with contractual increases through 2024, which have buttressed performance and offset declines in admissions and food, beverage and merchandise revenue. The company has made changes to its sponsorship model to improve sponsorship interest, but an economic downturn would likely hinder NASCAR's ability to attract new sponsors. The rapid and widening spread of the coronavirus outbreak, deteriorating global economic outlook, falling oil prices, and asset price declines are creating a severe and extensive credit shock across many sectors, regions and markets. The combined credit effects of these developments are unprecedented. The motor sport sector has been one of the sectors significantly affected by the shock given its sensitivity to consumer demand and sentiment. More specifically, the weaknesses in NASCAR's credit profile have left it vulnerable to shifts in market sentiment in these unprecedented operating conditions and NASCAR remains vulnerable to the outbreak continuing to spread. Moody's regards the coronavirus outbreak as a social risk under its ESG framework, given the substantial credit implications of public health and safety. The action reflects the impact on NASCAR of the breadth and severity of the shock, and the broad deterioration in credit quality it has triggered. The principal methodology used in these ratings was Business and Consumer Service Industry published in October 2016. NASCAR Holdings, Inc., headquartered in Daytona Beach, Florida is the sanctioning body of NASCAR and other race series. The company also owns and/or operates sixteen (16) race tracks within the territory of the United States, which includes ovals, road courses and a drag strip. In Q3 2019, NASCAR acquired International Speedway Corporation, which was previously a publicly traded company (ISCA). Members of the France family own 100% of NASCAR. NATURAL RESOURCE: Moody's Affirms B2 CFR & Alters Outlook to Neg. ----------------------------------------------------------------- Moody's Investors Service affirmed all ratings for Natural Resource Partners L.P., including the B2 Corporate Family Rating, and revised the rating outlook to negative from stable. "NRP has repaid more than half of its debt since 2015, but substantive deterioration in coal industry fundamentals will reduce cash flow generation and slow the pace of debt reduction in 2020," said Ben Nelson, Moody's Vice President -- Senior Credit Officer and lead analyst for Natural Resource Partners L.P. Affirmations: Issuer: Natural Resource Partners L.P. Probability of Default Rating, Affirmed B2-PD Corporate Family Rating, Affirmed B2 Senior Unsecured Regular Bond/Debenture, Affirmed Caa1 (LGD5) Outlook Actions: Issuer: Natural Resource Partners L.P. Outlook, Changed To Negative From Stable RATINGS RATIONALE Moody's expects a very challenging year for the coal industry in 2020. Domestic demand for thermal coal is challenged by a mild winter season, historically low natural gas prices, and ongoing reduction of the fleet of coal-fired power plants. A substantive reduction in export prices has redirected coal back into the weakened domestic market, further reducing prices in early 2020 following a weak 2019. Likewise, metallurgical coal fell sharply in the second half of 2019 and, while the met coal market has evidenced some stability in early 2020, there is no near-term catalyst for substantive and sustained price improvement. Based on these industry-level assumptions and its own forecast assumptions, Moody's expects that NRP's EBITDA will fall about 35-40% in 2020 -- down from about $200 million in 2019. Conversion of EBITDA to discretionary cash flow is high because the company only has about $48 million of annual cash interest and no meaningful capital spending due to the nature of its business. NRP reported distributions of $0.45/share in the fourth quarter of 2019. Credit metrics likely will weaken considerably for the rating, including adjusted financial leverage above 3.5x (Debt/EBITDA) and (CFO-Dividends)/Debt below 10%, and the pace of debt reduction will slow considerably from more than $160 million in 2019. The B2 CFR incorporates expectations for NRP to maintain adjusted Debt/EBITDA below 3.5x and (CFO-Dividends)/Debt above 10%. Moody's definition of Dividends, for purposes of calculating (CFO-Dividends)/Debt, includes common and preferred dividends paid in cash. Environmental, social, and governance factors have a material impact on NRP's credit quality. Moody's also believes that investor concerns about the coal industry's ESG profile are intensifying and coal producers will be increasingly challenged by increasing access to capital issues in the early 2020s. A growing portion of the global investment community is reducing or eliminating exposure to the coal industry with greater emphasis on moving away from thermal coal. The aggregate impact on the credit quality of the coal industry is that debt capital will become more expensive over this horizon, particularly in the public bond markets and other business requirements such as surety bonds, which together will lead to much more focus on individual coal producers' ability to fund their operations and articulate clearly their approach to addressing environmental, social, and governance considerations. NRP will be challenged with falling production from weaker counterparties with higher likelihood of restructuring activity that could result in lower cash payments from coal producers. The B2 CFR balances solid debt protection metrics and good free cash flow conversion relative to similarly-rated companies with significant exposure to the coal industry. The coal industry is experiencing ongoing secular decline in the domestic demand for thermal coal and export markets for both thermal and metallurgical coal have exhibited significant price volatility over the past decade -- including meaningful weakening over the past last quarters. Changes in coal production by lessees and changes in coal pricing can have a significant impact on NRP's revenue, though the company's contracts provide some level of protection to adverse scenarios. A minority interest in Ciner Wyoming's soda ash operations, which benefits from attractive cost structure compared to most global producers, accounts for about 20% of NRP's EBITDA and helps diversify the company, though Moody's recognizes that this operation will require capital spending in the early-to-mid 2020s in order to maintain production levels, and that soda ash margins are likely to decline due to new capacity and Ciner's plan to exit the US export association (ANSAC). The negative outlook reflects an increasing likelihood that adjusted financial leverage will rise above 3.5x (Debt/EBITDA) and the company will burn cash in 2020. Moody's could downgrade the rating if adjusted financial leverage increases to meaningfully above 3.5x, (CFO-Dividends)/Debt falls below 10%, liquidity deteriorates meaningfully, or further intensification of ESG concerns related to the coal industry call into question the company's ability to handle upcoming financing requirements. Conversely, Moody's could consider upgrading the company with expectations for adjusted financial leverage sustained below 2.0x, including a significant reduction in absolute debt, and strong free cash flow that will enable the company to reduce debt consistently and significantly on an annual basis. Management's commitment to financial policies necessary to sustain these metrics in the medium term would be an important factor in considering a potential upgrade to the company's ratings. The SGL-2 reflects good liquidity to support operations over the next 12-15 months. NRP reported $98 million of cash at 31 December 2019. Moody's also expects that the company will generate sufficient free cash flow to fund tax-related distributions to unitholders and preferred distributions, but funding required debt amortization using free cash flow could be more challenging, leading to some potential cash consumption in 2020. Moody's expects that the company will also maintain full access to its $100 million revolving credit facility. The revolving credit facility contains a maximum OpCo leverage ratio test set at 4.0x (which can step down depending on distribution levels) and a minimum OpCo interest coverage ratio test set at 3.5x. Moody's expects that NRP will maintain a comfortable cushion of compliance under these covenants. However, liquidity could potentially be pressured given that Foresight Energy, one of NRP's largest customers, recently filed for bankruptcy after several missed interest payments. Natural Resource Partners L.P., is a limited partnership formed in April 2002 and is headquartered in Houston, Texas. NRP engages principally in the business of owning, managing and leasing a diversified portfolio of mineral properties in the United States, including interests in coal, trona, soda ash, and other natural resources. NRP generated roughly $257 million in revenues in 2019. The principal methodology used in these ratings was Mining published in September 2018. ONE HUNDRED FOLD: Defers Plan Hearing to April 1 ------------------------------------------------ One Hundred Fold II, LLC, filed a motion seeking to continue hearings set for March 4, 2020 with respect to the Debtor's plan confirmation and as well the motion to convert this bankruptcy case filed by the Office of the United States trustee. Counsel for the UST had requested various items of information and explanation with respect to HUD statements, payments to creditors of insurance proceeds and previously filed monthly reports. The Debtor's counsel has responded to the UST Information Requests, and was slated to submit on March 4, 2020 an amended Monthly Operating Report for April 2019. The Debtor proposed these deadlines: * The hearings scheduled for March 4, 2020 will be continued to April 1, 2020, at 2:00 p.m. * The Debtor will file a final amended plan no later than March 16, 2020. If a final amended plan is not filed by March 16, 2020, the case shall be converted to a case under chapter 7. * The objection/voting date deadline shall be March 27, 2020, with a voting tabulation deadline set as March 30, 2020. A full-text copy of the Motion dated March 4, 2020, is available at https://tinyurl.com/sk3dx7n from PacerMonitor.com at no charge. Counsel for the Debtor: Louis M. Phillips KELLY HART PITRE One American Place 301 Main Street, Suite 1600 Baton Rouge, LA 70801-1916 Telephone: (225) 381-9643 Facsimile: (225) 336-9763 E-mail: louis.phillips@kellyhart.com About One Hundred Fold II One Hundred Fold II, LLC, is a locally owned and operated business that rents residential rental properties primarily in the northwest area of Baton Rouge since its formation on Feb. 11, 2018. Mr. Jerry L. Baker, Jr., has operated this company and other residential rental companies in Baton Rouge, Louisiana for over a decade. One Hundred Fold II filed a Chapter 11 petition (Bankr. M.D. La. Case No. 18-10313) on March 24, 2018. In the petition signed by Mr. Baker, manager, the Debtor was estimated $500,000 to $1 million in assets and $1 million to $10 million in liabilities as of the bankruptcy filing. Judge Douglas D. Dodd is the presiding judge. Kelly Hart Pitre is presently serving as the Debtor's counsel, replacing Pamela Magee LLC. PAPARDELLE 1068: April 15 Hearing on Disclosure Statement Set ------------------------------------------------------------- The hearing to consider the approval of the disclosure statement (including any amendments or revisions thereto) filed by PAPARDELLE 1068, INC., will be held on April 15, 2020 at 10:30 a.m. in Courtroom 1, U.S. Courthouse, 333 Constitution Avenue, Washington, DC 20001. All objections to the Disclosure Statement will be filed and served pursuant to Rule 3017(a) prior to the hearing. As reported in the Troubled Company Reporter, Papardelle 1068, Inc., filed an Amended Plan of Reorganization and an Amended Disclosure Statement on Feb. 20, 2020. Class V General Unsecured Claims totaling $15,000 will receive payment in full on account of their Allowed Claims on the Effective Date. Class VI Equity Security Interest Holder, Gholam Kowkabi, who owns 100% of the issues and outstanding shares of the Debtor, will make an equity contribution to the Debtor in the sum of $45,000 in return for the retention of its stock interest. A full-text copy of the Amended Disclosure Statement dated Feb. 20, 2020, is available at https://tinyurl.com/rwqh8gx from PacerMonitor at no charge. Counsel for the Debtor: Steven H. Greenfeld COHEN BALDINGER & GREENFELD, LLC 2600 Tower Oaks Blvd., Suite 103 Rockville, MD 20852 Tel: (301) 881-8300 Papardelle 1068, Inc., operator of a restaurant in the Georgetown section of the District of Columbia which trades as Ristorante Piccolo, filed for chapter 11 bankruptcy protection (Bankr. D.C. Case No. 19-00554) on Aug. 16, 2019, and is represented by Steven H. Greenfeld, Esq. -- steveng@cohenbaldinger.com -- at Cohen, Baldinger & Greenfeld LLC. PAPER BLAST CO: Taps Schneider & Stone as Legal Counsel ------------------------------------------------------- Paper Blast Co. received approval from the U.S. Bankruptcy Court for the Northern District of Illinois to hire Schneider & Stone as its legal counsel. Schneider & Stone will assist the Debtor in the preparation of a Chapter 11 plan and will provide other legal services in connection with its Chapter 11 case. The firm will be paid at these rates: Attorney $375 per hour Paralegal $175 per hour Schneider & Stone does not have an interest materially adverse to the interest of the Debtor's bankruptcy estate, creditors and equity security holders, according to court filings. The firm can be reached through: Ben Schneider, Esq. Matthew Stone, Esq. Schneider & Stone 8424 Skokie Blvd., Suite 200 Skokie, IL 60077 Phone: 847-933-0300 Email: ben@windycitylawgroup.com About Paper Blast Co. Paper Blast Co. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ill. Case No. 20-01366) on Jan. 17, 2020. In the petition signed by Brian Berns, chief executive officer, the Debtor was estimated to have up to $50,000 in assets and $500,001 to $1 million in liabilities. Judge Deborah L. Thorne oversees the case. The Debtor is represented by Ben Schneider, Esq., at Schneider & Stone. PARALLAX HEALTH: All Three Proposals Approved at Annual Meeting --------------------------------------------------------------- Parallax Health Sciences, Inc., held a special meeting of stockholders on March 5, 2020, at which the stockholders: (1) approved an amendment to the Company's Articles of Incorporation to effect a Reverse Stock Split of the Company's outstanding Common Stock by combining outstanding shares of Common Stock, and any underlying shares from convertible securities, options and warrants, into a lesser number of outstanding shares of the Company's Common Stock, at a ratio of not less than 1-for-5 and not more than 1-for-10, with the exact ratio to be set within this range by the Company's Board of Directors at its sole discretion and set forth in a public announcement if the Board of Directors determines to implement the Reverse Stock Split; (2) approved the ratification of the appointment by the Board of Directors of Freedman & Goldberg, Certified Public Accountants, P.C. as the Company's independent auditors for the fiscal year ending Dec. 31, 2020; and (3) elected Paul R. Arena, Calli R. Bucci, John L. Ogden, William E. Withrow Jr., and Nathaniel T. Bradley to serve as members the Company's Board of Directors for a term of one year, and until a successor has been elected and qualified, or until his/her earlier death, resignation, or removal. On March 5, 2020, Parallax filed with the Secretary of State of the state of Nevada a Certificate of Amendment to its Articles of Incorporation. The Amendment will be effective as of March 5, 2020, or such date to be determined by the Chief Executive Officer of the Company once the Company receives authorization from FINRA regarding the stock split, to evidence a one for ten reverse stock split of its Common Stock, par value $0.001 per share. As a result of the Reverse Stock Split, every ten shares of outstanding Common Stock will automatically be converted into one share of the Company's Common Stock immediately prior to the opening of trading on the next business day after the Effective Date. The conversion will be into shares of the same class of Common Stock then held by the stockholder. Stockholders who would have been entitled to a fractional share will instead receive a cash payment in lieu of the fractional share. The aggregate number of shares of Common Stock that the Company is authorized to issue remains the same and was unaffected by the Reverse Stock Split. The Company's Board of Directors approved the Reverse Stock Split on March 5, 2020. The Company's shareholders approved the Reverse Stock Split on March 4, 2020. The Reverse Stock Split will become effective at the Effective Date. All outstanding stock options and other contractual rights including the preferred stock entitling the holders of such rights to acquire shares of Common Stock outstanding at the Effective Date will be appropriately adjusted to give effect to the Reverse Stock Split. A new CUSIP number will be issued for the Common Stock to distinguish stock certificates issued after the Effective Date. About Parallax Headquartered in Santa Monica, CA, Parallax Health Sciences -- http://www.parallaxhealthsciences.com/-- is an advanced technology, outcome-driven telehealth company that allows for cost-effective remote diagnosis, treatment and monitoring of patients through proprietary platforms of integrated products and services. The Company's interoperable novel applications provide patients point-of-care testing and monitoring with information communicated via internet-based mobile phone applications that are agnostic as to operating system and are built on highly sophisticated data analytics. Information is retrieved real-time by physicians who are monitoring patients with chronic diseases or through biometric feedback for health-related behavior modification, and is automated for integration into electronic health records. Freedman & Goldberg, in Farmington Hills, Michigan, the Company's auditor since 2016, issued a "going concern" qualification in its report date March 29, 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. As of Sept. 30, 2019, Parallax had $2.37 million in total assets, $7.21 million in total liabilities, and a total stockholders' deficit of $4.83 million. PENNRIVER COMMUNITY: Gets Approval to Hire Zousmer Law as Counsel ----------------------------------------------------------------- Pennriver Community, LLC received approval from the U.S. Bankruptcy Court for the Eastern District of Michigan to hire Zousmer Law Group, PLC as its legal counsel. Zousmer Law Group will provide these services in connection with the Debtor's Chapter 11 case: a. advise the Debtor of its powers and duties; b. attend meetings and negotiate with representatives of creditors and other parties in interest; c. take all necessary actions to protect and preserve the Debtor's estate, including the prosecution of actions on the Debtor's behalf, the defense of any action commenced against the Debtor, negotiations concerning all litigation in which the Debtor is involved, and objections to claims filed against the estate; d. prepare legal papers; e. negotiate and prepare a plan of reorganization, disclosure statement, and all related agreements and documents, and take any necessary action to obtain confirmation of such plan; f. represent the Debtor in connection with obtaining post-petition loans, if necessary; g. advise the Debtor in connection with any potential sale of its assets; and h. appear before the court and the United States Trustee. Michael Zousmer, Esq., the firm's attorney who will be handling the case, will charge an hourly fee of $395. Prior to the Debtor's bankruptcy filing, Zousmer Law Group was paid $2,500 for pre-bankruptcy services and $17,500 as initial retainer. The firm will be paid an additional retainer of $22,500. Mr. Zousmer disclosed in court filings that the firm is "disinterested" within the meaning of Section 101(14) of the Bankruptcy Code. Zousmer Law Group can be reached through: Michael Zousmer, Esq. Zousmer Law Group, PLC 4190 Telegraph Rd, Suite 300 Bloomfield Hills, MI 48302 Tel: 248-351-0099 Fax: 248-351-0487 Email: Michael@zlawplc.com About Pennriver Community Pennriver Community, LLC is a single asset real estate debtor (as defined in 11 U.S.C. Section 101(51B)). Pennriver Community sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Mich. Case No. 20-41082) on Jan. 26, 2020. At the time of the filing, the Debtor disclosed assets of between $1 million and $10 million and liabilities of the same range. Judge Mark A. Randon oversees the case. Zousmer Law Group, PLC is the Debtor's legal counsel. PEOPLE WHO CARE: April 15 Plan Confirmation Hearing Set ------------------------------------------------------- A hearing will be held on April 15, 2020, at 11:00 a.m. before the Honorable Robert N. Kwan, United States Bankruptcy Judge for the Central District of California, Los Angeles Division in Courtroom 1675 on the 16th Floor of the United States Bankruptcy Courthouse located at 255 East Temple Street, Los Angeles, California, for the Court to consider the confirmation of the Debtor’s First Amended Chapter 11 Plan, Dated February 12, 2020. Ballots must be received by 5:00 p.m. PST on April 1, 2020, or it will not be counted. Any objection to confirmation of the Plan, together with all direct evidence in support of such objections, must be in writing, filed with the Court and served by not later than April 1, 2020. People Who Care Youth Center filed a reorganization plan. The Plan is the Debtor's proposal to reorganize its financial affairs to repay allowed claims of creditors of the bankruptcy estate over a period of years. The Plan will be funded by a $1 million exit financing. The Plan treats claims as follows: * Class 2. Allowed Secured Claim of The City of Los Angles. IMPAIRED. Amount of Claim Approximately $404,706.06. In the event of Exit Financing, the the amount owing on the City's lien shall be reduced at the rate of $49,055.27 per year for every year (and prorated for partial years) that Debtor provides community service in accordance with the Proposition K grant. In the event of Alternative Exit Financing, the City shall receive payment in an amount equal to $404,706 within 90 days the Effective Date of the Plan, in full and complete satisfaction of the Class 2 claim. In the event of neither Exit Financing nor Alternative Exit Financing, the City shall have an unsecured claim in the amount of $404,706.06. * Class 4. Allowed Secured Claim of Acon Development, Inc. IMPAIRED. Amount of Claim $521,868. In the event of Exit Financing, Acon will be paid from the Exit Financing the full amount of its claim of $521,868 in full and final satisfaction of its claim on the Effective Date, and Acon’s lien on the Property shall be satisfied and released. In the event of Alternative Exit Financing, Acon shall be paid from the Exit Financing the full amount of its claim of $521,868 in full and final satisfaction of its claim within 90 days of the Effective Date, and Acon's lien on the Property shall be satisfied and released. In the event of neither Exit Financing nor Alternative Exit Financing, the refinancing debt service on in the Budget to the Disclosure Statement will be used with 10% of such payment to the IRS and 90% of such payment to Acon until such time as the IRS claim is paid and full, at with time, 100% of such payment will be used to pay Acon until the Class 4 claim is paid in full. * Class 7. Claims Allowed General Unsecured Claim of California Department of Parks and Recreation. IMPAIRED. Amount of Claim Approximately $562,500. The Class 7 Claimant shall have its claim reduced at the rate of $37,500 per year for every year (and prorated for every partial year) that the Debtor provides community recreational programs ("Programs") in accordance with paragraph 61 of the Addendum to AIRCRE Standard Industrial Commercial Single Tenant Lease- Gross dated March 15, 2019 for the property known as 1512 W. Slauson Avenue, Los Angeles, California 90047 ("Lease"). * Class 8. Claims All Allowed General Unsecured Claims Other than the Class 7 Claim. IMPAIRED. Amount of Claims Approximately $47,356. Regardless of whether or not the Debtor closes Exit Financing or Alternative Exit Financing, the holders of Class 8 claims shall receive nothing on account of their Class claims. A full-text copy of the Disclosure Statement dated March 4, 2020, is available at https://tinyurl.com/u24dhfd from PacerMonitor.com at no charge. Attorneys for the Debtor: DAVID B. GOLUBCHIK JOHN-PATRICK M. FRITZ LEVENE, NEALE, BENDER, YOO & BRILL L.L.P. 10250 Constellation Boulevard, Suite 1700 Los Angeles, California 90067 Telephone: (310) 229-1234 Facsimile: (310) 229-1244 E-mail: DBG@LNBYB.COM; JPF@LNBYB.COM About People Who Care Youth Center People Who Care Youth Center, Inc., is a non-profit corporation that provides child daycare to low-income working parents in South Central Los Angeles. Its primary asset is a commercial real property building located at 1502 and 1512 West Slauson Avenue, Los Angeles, California. People Who Care Youth Center sought protection under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Cal. Case No. 18-10290) on Jan. 10, 2018. In the petition signed by CEO Michelle McArn, the Debtor was estimated to have assets of $100,000,001 to $500 million and liabilities of $500,001 to $1 million. Judge Sheri Bluebond presides over the case. Levene, Neale, Bender, Yoo & Brill L.L.P. is the Debtor's counsel. PIER 1 IMPORTS: Hires Malfitano as Asset Disposition Advisor ------------------------------------------------------------ Pier 1 Imports, Inc., and its debtor-affiliates seek authority from the U.S. Bankruptcy Court for the Eastern District of Virginia to employ Malfitano Advisors, LLC, as asset disposition advisor and consultant to the Debtors. Pier 1 Imports requires Malfitano to: a) review and advise with respect to issues associated with any planned closures, including timing and coordination; b) consult with the Debtors and their advisors on the formulation of a possible asset disposition solicitation sale package, including the preparation of due diligence and related offering materials; c) review bid proposals and assist in negotiations with the various parties to ensure recoveries are maximized; d) assist in the documentation of transactions involving the liquidation of inventory and review pleadings that may need to be filed with the Court from time to time; e) monitor the conduct and results of any third party selected to liquidate any inventory and fixed assets; f) advise the Debtors with respect to the reconciliation of any inventory counts and sales and assisting the Debtors as it relates to any negotiations with respect thereto; g) review and inspect the Debtors' assets, including, but not limited to inventory and fixed assets; and h) attend meetings as requested, with the Debtors, their lenders, the official committee of unsecured creditors, any other official or unofficial committee of creditors that may be appointed, potential investors, and other parties in interest. Malfitano will be paid at these hourly rates: Joseph Malfitano $740 Stephanie Gould/VP, Financial Analyst $435 Gary Carlton/VP, Field Supervisor $410 Malfitano will also be reimbursed for reasonable out-of-pocket expenses incurred. Joseph A. Malfitano, managing member of Malfitano Advisors, 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. Malfitano can be reached at: Joseph A. Malfitano Malfitano Advisors, LLC 747 Third Avenue, 2nd Floor New York, NY 10017 Tel: (646) 776-0155 E-mail: info@malfitanopartners.com About Pier 1 Imports, Inc. Founded with a single store in 1962, Pier 1 Imports, Inc. -- http://www.pier1.com/-- is a leading omni-channel retailer of unique home decor and accessories. The Company's products are available through approximately 930 Pier 1 stores in the U.S. and online at pier1.com. Pier 1 Imports, Inc., and 7 affiliates sought Chapter 11 protection (Bankr. E.D. Va. Lead Case No. 20-30805) on Feb. 17, 2020, to pursue a sale of the assets. Pier 1 disclosed $426,585,000 in assets and $258,254,000 in debt as of Jan. 2, 2020. The Hon. Kevin R. Huennekens is the case judge. A&G Realty Partners is assisting the Company with its previously announced store closures and lease modifications. Pier 1 landlords are encouraged to contact A&G Realty Partners through its website, http://www.agrep.com/ Kirkland & Ellis LLP and Osler, Hoskin & Harcourt LLP are serving as legal advisors to Pier 1 in the U.S. and Canada, respectively. AlixPartners LLP is serving as the Company's restructuring advisor and Guggenheim Securities, LLC is serving as the Company's investment banker. Epiq Bankruptcy Solutions is the claims agent. PIONEER ENERGY: April 7 Combined Hearing on Plan & Disclosures -------------------------------------------------------------- The combined hearing, at which time the Bankruptcy Court will consider, among other things, the adequacy of the Disclosure Statement and confirmation of the Prepackaged Plan filed by Pioneer Energy Services Corp., et al., will be held before the Honorable David R. Jones, United States Bankruptcy Judge, in Courtroom 400 of the United States Bankruptcy Court for the Southern District of Texas, 515 Rusk Street, Houston, Texas, 77002 on April 7, 2020 at 2:00 p.m. (Prevailing Central Time). Any objections to the approval of the Disclosure Statement, the Solicitation Procedures, or confirmation of the Prepackaged Plan must filed and served no later than 5:00 p.m. (Prevailing Central Time) on March 30, 2020. The Debtors will file their brief in support of confirmation of the Prepackaged Plan, and their reply to any objections no later than April 6, 2020 at 5:00 p.m. (Prevailing Central Time). The Disclosure Statement is conditionally approved as having adequate information as required by Section 1125 of the Bankruptcy Code without prejudice to any party in interest objecting to the Disclosure Statement at the Combined Hearing. About Pioneer Energy Pioneer Energy Services (OTC: PESX) -- http://www.pioneeres.com/-- provides well servicing, wireline, and coiled tubing services to producers primarily in Texas and the Mid-Continent and Rocky Mountain regions. Pioneer also provides contract land drilling services to oil and gas operators in Texas, Appalachia and Rocky Mountain regions and internationally in Colombia. Pioneer is headquartered in San Antonio, Texas. Pioneer Energy Services Corp. and nine related entities sought Chapter 11 protection (Bankr. S.D. Tex. Lead Case No. 20-31425) to effectuate its prepackaged plan of reorganization that will cut debt by $260 million. Pioneer Energy disclosed $689,693,000 in assets and $576,545,000 in liabilities as of Sept. 30, 2019. The Hon. David R. Jones is the case judge. Paul, Weiss, Rifkind, Wharton & Garrison LLP and Norton Rose Fulbright US LLP are serving as legal counsel to Pioneer, Lazard is acting as financial advisor and Alvarez & Marsal is serving as restructuring advisor. Epiq Corporate Restructuring, LLC, is the claims agent. Davis Polk & Wardwell LLP and Haynes and Boone, LLP are acting as legal counsel for the ad hoc group of Senior Unsecured Noteholders and Houlihan Lokey is acting as financial advisor. PLUS THERAPEUTICS: Welcomes Two New Directors --------------------------------------------- Dr. Robert Lenk and Mr. Howard Clowes will join Plus Therapeutics, Inc.'s Board of Directors to serve as independent directors, effective April 1, 2020. Dr. Lenk has over 35 years as pharmaceutical executive with deep expertise in nanoparticle drug development and drug formulation. He is currently president of Lenk Pharmaceuticals, a pharmaceuticals development consultant to multinational corporations and startups. Previously, Dr. Lenk has been chief scientific officer of MediVector, Inc., president of the NanoWorks division of Luna Innovations, Inc., president & CEO of Therapeutics 2000, Inc. and vice president of Research & Development at Argus Pharmaceuticals. Dr. Lenk was also co-founder of The Liposome Co. and a staff fellow of the National Institute of Child Health and Human Development. He has a PhD and BS from the Massachusetts Institute of Technology and resides in Danville, VA. A retired partner after nearly four decades at DLA Piper, a leading law firm, Mr. Clowes has served in leadership positions in the firm's Corporate and Securities Practice, advising public and private companies on securities law, financing, mergers and acquisition and general corporate matters. At the law firm of Gray Cary Ware & Freidenrich LLP, which was acquired by DLA Piper, he served as a partner in the Corporate Group, member of the Executive Committee and managing partner of the Transactions Group. Mr. Clowes has a J.D. from the University of California, Berkeley (where he now serves as a Lecturer), and a BA from the University of California, Santa Barbara. A resident of the Bay Area, Mr. Clowes served as president, Board Member and Chair of the Strategic Planning and Search Committee of the Law Foundation of Silicon Valley. "We are extremely pleased that two such accomplished industry veterans have agreed to join our board of directors," said Dr. Marc Hedrick, president and CEO of Plus Therapeutics. "Howard has been a longstanding and esteemed partner at a leading law firm, while Robert is a highly regarded C-level executive in the pharmaceutical industry. With decades of high-level experience, Howard and Robert bring a tremendous depth of knowledge and capabilities to our Board." Mr. Clowes will receive an annual retainer of $40,000 for his service on the Board, and an additional $5,000 for each committee on which he serves. In connection with his appointment to the Board, Mr. Clowes will also receive an initial grant of options to purchase up to 40,000 shares of common stock of the Company, which will have an exercise price per share equal to the fair market value of the common stock on the date of grant and which are expected to vest and become exercisable in monthly installments over the next two years, subject to a one-year cliff. Mr. Clowes will be eligible for ongoing compensation for his service on the Board and any committees thereof on which he serves in accordance with the Company's standard non-employee director compensation program. In addition, it is expected that Mr. Clowes will enter into the Company's standard form of indemnification agreement. Dr. Lenk will receive an annual retainer of $40,000 for his service on the Board. In connection with his appointment to the Board, Dr. Lenk will also receive an initial grant of options to purchase up to 40,000 shares of common stock of the Company, which will have an exercise price per share equal to the fair market value of the common stock on the date of grant and which are expected to vest and become exercisable in monthly installments over the next two years, subject to a one-year cliff. Dr. Lenk will be eligible for ongoing compensation for his service on the Board and any committees thereof on which he serves in accordance with the Company's standard non-employee director compensation program. In addition, it is expected that Dr. Lenk will enter into the Company's standard form of indemnification agreement. About Plus Therapeutics Headquartered in San Diego, California, Plus Therapeutics, Inc. is a clinical-stage pharmaceutical company focused on the discovery, development, and delivery of complex and innovative treatments for patients battling cancer and rare diseases. Its proprietary nanotechnology platform is currently centered around the enhanced delivery of a variety of drugs using novel liposomal encapsulation technology. Liposomal encapsulation has been extensively explored and undergone significant technical and commercial advances since it was first developed. Cytori reported a net loss of $12.63 million for the year ended Dec. 31, 2018 compared to a net loss of $22.68 million for the year ended Dec. 31, 2018. As of Sept. 30, 2019, the Company had $25.71 million in total assets, $25.55 million in total liabilities, and $160,000 in total stockholders' equity. BDO USA, LLP, in San Diego, California, the Company's auditor since 2016, issued a "going concern" qualification in its report dated March 29, 2019, on the Company's consolidated financial statements for the year ended Dec. 31, 2018, citing that Cytori has suffered recurring losses from operations that raise substantial doubt about its ability to continue as a going concern. PRODIGY DIALYSIS: Taps Spence Custer as Legal Counsel ----------------------------------------------------- Prodigy Dialysis, LLC received approval from the U.S. Bankruptcy Court for the Western District of Pennsylvania to hire Spence, Custer, Saylor, Wolfe & Rose, LLC as its legal counsel. The firm will advise the Debtor regarding its duties under the Bankruptcy Code; assist in the preparation of a bankruptcy plan; and provide other legal services related to its Chapter 11 case. The firm will charge $300 per hour for the services of its attorneys and $150 per hour for the services of its paraprofessionals. Kevin Petak, Esq., at Spence Custer, disclosed in a court filing that the firm and its attorneys do not hold any interest adverse to the Debtor's estate. The firm can be reached through: Kevin J. Petak, Esq. 1067 Menoher Boulevard Johnstown, PA 15905 Tel: 814.536.0735 Fax: 814.539.1245 Email: kpetak@spencecuster.com About Prodigy Dialysis Prodigy Dialysis, LLC owns and operates a dialysis center located at 105 Metzler Street Johnstown, Pa. Prodigy Dialysis filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Penn. Case No. 20-70105) on Feb. 25, 2020. In the petition signed by George J. Frem, M.D., sole member and president, the Debtor disclosed $424,814 in assets and $1,134,220 in liabilities. Judge Jeffery A. Deller presides over the case. The Debtor is represented by Kevin J. Petak, Esq. at Spence, Custer, Saylor, Wolfe & Rose, LLC. PROVIDENT FUNDING: Moody's Reviews B1 CFR for Downgrade ------------------------------------------------------- Moody's Investors Service placed on review for downgrade Provident Funding Associates, L.P.'s B1 corporate family and B2 long-term senior unsecured ratings. The rating action was prompted by the recent further, significant decline in interest rates that will likely pressurize the company's liquidity and capitalization. RATINGS RATIONALE A decline in interest rates reduces the value of Provident's mortgage servicing rights (MSRs), pressuring its liquidity and capitalization, absent any mitigating factors, such as hedging. The lower value of the MSR portfolio will cause in turn a reduction in liquidity due to margin calls from providers of the company's lines of credit. At the same time, lower interest rates usually translate into an increase in refinancing volumes, with a positive impact on profitability. During the review, Moody's will focus on the impact on the firm's liquidity, capital and profitability from the recent decline in interest rates. The B1 corporate family rating currently assigned to Provident's standalone credit profile reflects its weak profitability but also incorporates its conservative credit risk appetite, which lessens asset quality performance risks. Provident's profitability has been weak in the past several years as the volume of loan closings that met the company's conservative lending guidelines declined significantly, reflecting heightened market competition. With the recent further decline in interest rates, Moody's expects the company's profitability to improve due to higher origination volumes and gain on sale margins. Since before the 2008 credit crisis, Provident has maintained its focus on very-high quality prime loans, solid capital, and adequate liquidity, which contributed to a long and stable operating history. Governance is highly relevant for Provident. Corporate governance weaknesses can lead to a deterioration in a company's credit quality, while governance strengths can benefit its credit profile. Governance risks are largely internal rather than externally driven. Moody's believes the company has a moderate level of key man risk with respect to its CEO, who possesses more than 25 years of experience in the mortgage industry and participates in Provident's day-to-day operations. Nonetheless, corporate governance remains a key credit consideration. WHAT COULD CHANGE THE RATINGS UP/DOWN Since Provident's ratings are on review for downgrade, rating upgrades are unlikely. The ratings could be confirmed if Moody's were to assess that the company was able to mitigate the negative impact on liquidity and capital from the lower interest rates. The ratings could be downgraded if Provident's liquidity, funding or asset quality deteriorate. The ratings could also be downgraded if company's capital level (as measured by tangible common equity to tangible assets) remains below 15% or if Moody's determines that Provident was unable to maintain modest profitability measured as pre-tax income to assets of at least 0.5%. The principal methodology used in these ratings was Finance Companies Methodology published in November 2019. PURADYN FILTER: Secures $250,000 Credit Facility ------------------------------------------------ Puradyn Filter Technologies Incorporated entered into a revolving credit agreement on March 9, 2020 with Christian Meissner pursuant to which Mr. Meissner agreed to make a $250,000 credit line available to the Company's from time to time until Sept. 30, 2020. The Company's ability to draw amounts under the credit line is at the discretion of Mr. Meissner. Under the terms of the Agreement, amounts the Company borrows from Mr. Meissner will be evidenced by a 5% Senior Secured Revolving Note. The Note will pay interest at the rate of 5% per annum, matures on Sept. 30, 2020 and its obligations thereunder are secured by a first position security interest in its assets as evidenced by a Security Agreement of even date by and between the Company and Mr. Meissner. The Company's secured creditor, Mr. Joseph V. Vittoria, the Company's executive chairman, entered a Subordination Agreement subordinating his first position security interest in our assets which secures a Senior Secured Promissory Note in the principal amount of $9,129,430 due Mr. Vittoria to Mr. Meissner. On March 9, 2020 the Company drew an initial $100,000 under this credit line and on March 12, 2020 used $33,617 of the proceeds to satisfy the Company's obligations under the Business Loan Agreement with Kabbage dated Oct. 24, 2019. The Company is using the balance of the proceeds for working capital. About Puradyn Filter Boynton Beach, Fla.-based Puradyn Filter Technologies Incorporated (OTC BB: PFTI) -- http://www.puradyn.com/-- designs, manufactures, markets and distributes worldwide the Puradyn bypass oil filtration system for use with substantially all internal combustion engines and hydraulic equipment that use lubricating oil. Puradyn Filter reported a net loss of $216,382 for the year ended Dec. 31, 2018, compared to a net loss of $1.23 million for the year ended Dec. 31, 2017. As of Sept. 30, 2019, the Company had $2.47 million in total assets, $12.62 million in total liabilities, and $10.15 million in total stockholders' deficit. Liggett & Webb, P.A., in Boynton Beach, Florida, the Company's auditor since 2006, issued a "going concern" qualification in its report dated March 25, 2019, on the Company's consolidated financial statements for the year ended Dec. 31, 2018, noting that the Company has experienced net losses since inception and negative cash flows from operations and has relied on loans from related parties to fund its operations. These factors raise substantial doubt about the Company's ability to continue as a going concern. REGIONAL MEDICAL: Unsecureds Get 20% to 35% Distribution in Plan ---------------------------------------------------------------- Regional Medical Transportation, Inc., has filed a Chapter 11 Plan. According to the Disclosure Statement, in summary, the Debtor will (a) pay the U.S. Dept. of Labor the secured and priority portions of its claims; (b) pay certain vehicle loan lenders the secured portion of their claims modified to the vehicle's value in full satisfaction of their lien; (c) allow motor vehicle accident creditors to seek insurance proceeds; (d) pay administrative fees to Debtor's attorneys; (d) pay all remaining priority claims; and (e) make an estimated 20% to 35% distribution to general unsecured claims. The Debtor will pay the following amounts per month for the 50-month period beginning on the Confirmation Date: a. U.S. Dept. of Labor – $168,650 paid directly to the U.S. Dept. of Labor in installments of $3,373 per month, plus its pro rata share of the general unsecured class distribution; b. Wetzel Gagliardi Fetter & Lavin LLC (Debtor's Attorneys) - $42,500 in installments of $850 per month; c. City of Philadelphia - $5,188 in installments of $103.76/month; d. Internal Revenue Service - $340 paid on the Confirmation Date in full satisfaction of the amount due. e. Toyota Financial Svcs. - $52,828 in installments of $1,057 per month, plus its pro rata share of the general unsecured class distribution. f. Citizens Bank N.A. - $17,619 in installments of $353 per month, plus its pro rata share of the general unsecured class distribution; g. Ford Motor Credit - $18,118 in installments of $362.4 per month plus, its pro rata share of the general unsecured class distribution; h. Santander Consumer USA, Inc. d/b/a Chrysler Capital – $83,844 in installments of $1,677 per month, plus its pro rata share of the general unsecured class distribution; i. Ally Bank – $53,794 in installments of $1,076 per month, plus its pro rata share of the general unsecured class distribution; j. Sterling National Bank - $77,643 in installments of $1,553 per month, plus its pro rata share of the general unsecured class distribution. k. Non-Priority Unsecured Creditors – General Unsecured creditors will receive a pro rata share of $75,000, paid in monthly installments. Unsecured creditors are expected to receive an estimated 20% to 35% distribution depending upon the Debtor’s objections to certain claims, deficiency balances from secured vehicle lenders and the extent of insurance coverage available for certain motor vehicle accident creditors. Payments pursuant to this Plan will commence on the Confirmation Date of Plan. A full-text copy of the Disclosure Statement dated March 4, 2020, is available at https://tinyurl.com/u7fqzvv from PacerMonitor.com at no charge. About Regional Medical Transportation Regional Medical Transportation, Inc., sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Pa. Case No. 19-15513) on Sept. 4, 2019. At the time of the filing, the Debtor was estimated to have assets of between $100,001 and $500,000 and liabilities of the same range. The case is assigned to Judge Ashely M. Chan. Wetzel Gagliardi Fetter & Lavin LLC is the Debtor's counsel. RENTPATH HOLDINGS: CSGP Buying All Assets for $587.5M Cash ---------------------------------------------------------- RentPath Holdings, Inc., and its debtor affiliates, ask the U.S. Bankruptcy Court for the District of Delaware to authorize the bidding procedures in connection with the sale of substantially all assets to CSGP Holdings, LLC for $587.5 million, cash, plus certain assumed liabilities, subject to overbid. The Debtors, after considerable deliberation, extensive negotiations, and multiple rounds of revisions of terms, they've entered into the Stalking Horse Agreement with the Stalking Horse Bidder, an affiliate of CoStar Group, Inc., a commercial real estate information company. The Stalking Horse Agreement is the result of the Debtors' extensive Prepetition Sale Process and contemplates a value-maximizing transaction pursuant to a going concern sale of their assets for an aggregate purchase price equal to $587.5 million in cash, plus certain assumed liabilities. The Stalking Horse Agreement is subject to higher or otherwise better offers. Prior to the Petition Date, the Debtors also proactively engaged in constructive negotiations and discussions with an ad hoc committee of crossholder lenders holding first lien claims and second lien claims, an ad hoc group of lenders holding Second Lien Claims, and the Company's equity sponsors. Following months of good faith, arms’-length negotiations with such parties, on Feb. 11, 2020, the Company executed a restructuring support agreement ("RSA") with two groups of lenders, a crossholder ad hoc committee of first lien and second lien lenders ("Crossholder Ad Hoc Committee") and an ad hoc committee of second lien lenders, and the Company's equity sponsors, Regal Holdco LP (an affiliate of Providence Equity Partners LLC) and Pittsburgh Holdings, L.P. (an affiliate of TPG Partners VI, L.P.). Pursuant to the RSA, the Consenting Creditors have agreed to backstop the Debtors' Sale Process by submitting a binding credit bid in the amount of $492.7 million. The Company conducted an extensive and robust prepetition marketing, solicitation, and sale process over seven months, which commenced in July 2019 and ran through the commencement of these chapter 11 cases. The Bidding Procedures provide the Debtors with flexibility to solicit proposals, negotiate transactions, hold an auction, and, subject to the terms of the RSA, proceed to consummate a potential sale transaction, all while protecting the due process rights of all interested parties and ensuring that there is a full and fair opportunity to review and consider proposed transactions. The salient terms of the Bidding Procedures are: a. Bid Deadline: March 25, 2020 at 4:00 p.m. (ET) b. Initial Bid: Each Bid must specify the price proposed to be paid for the Assets, which Purchase Price must include an amount in cash sufficient to satisfy the Termination Payment of $11.75 million. c. Deposit: 10% of the Purchase Price d. Auction: If the Debtors receive any Qualified Bids (other than the Stalking Horse Bid and the Credit Bid), the Debtors will conduct the Auction on March 31, 2020 beginning at 10:00 a.m. (ET) at the offices of Weil, Gotshal & Manges LLP, 767 Fifth Avenue, New York, New York 10153, or such other date as may be determined by the Debtors in consultation with the Stalking Horse Bidder and counsel to the Crossholder Ad Hoc Committee. e. Bid Increments: $1 million f. Sale Hearing: May 29, 2020 at (TBD) (ET) g. Sale Objection Deadline: May 18, 2020 at 4:00 p.m. (ET) h. Persons or entities holding a perfected security interest in the Assets may submit a credit bid on such Assets, to the extent permitted by applicable law, any Bankruptcy Court orders, and the documentation governing the Debtors' prepetition or postpetition secured credit facilities, and subject to any applicable limitations set forth in the Prepetition Intercreditor Agreement. The salient terms of the Stalking Horse Agreement are: a. Purchase Price: The consideration is $587.5 million in cash and the assumption of the Assumed Liabilities. b. Acquired Assets: Substantially all assets c. The Motion and the Stalking Horse Agreement contemplate an auction. d. The closing will take place at the offices of Weil, Gotshal & Manges LLP, 767 Fifth Avenue, New York, New York at 10:00 a.m. (ET) on (a) the second business day following the satisfaction or, to the extent permitted, waiver of the conditions set forth in Article VI, or (b) such other date or at such other time or place as the Company and the Buyer may mutually agree in writing. e. Good Faith Deposit: $58.75 million in cash f. Bid Protection: $11.75 million The Assumption and Assignment Procedures set forth in the Bidding Procedures Order will, among other things, govern the Debtors' provision of notice to all Contract Counterparties of Cure Costs in the event they decide to transfer the Assigned Contracts in connection with a Sale Transaction. The Debtors will file the Cure Notice with the Court and serve the Cure Notice on the Contract Counterparties at least 10 days before the Sale Objection Deadline. A hearing on the Motion is set for March 12, 2020 at 10:00 a.m. (ET). The Objection Deadline is March 5, 2020 at 4:00 p.m. (ET). A copy of the Agreement and the Bidding Procedures is available at https://tinyurl.com/v4edn36 from PacerMonitor.com free of charge. About RentPath RentPath is a digital marketing solutions company that empowers millions nationwide to find apartments and houses for rent. RentPath Holdings, Inc., and 11 affiliates sought Chapter 11 protection (Bankr. D. Del. Lead Case No. 20-10312) on Feb. 12, 2020. RentPath Holdings was estimated to have $100 million to $500 million in assets and $500 million to $1 billion in liabilities as of the bankruptcy filing. Weil, Gotshal & Manges LLP and Richards Layton & Finger are serving as legal counsel, Moelis & Company LLC is serving as financial advisor, and Berkeley Research Group, LLC is serving as restructuring advisor to RentPath. Prime Clerk LLC is the claims agent. REVOLAR TECHNOLOGY: March 20 Hearing on Disclosure Statement ------------------------------------------------------------ Judge Micheal E. Romero has ordered that the hearing to consider the adequacy of and to approve the Second Amended Disclosure Statement filed by Revolar Technology Inc., will be held at 10:30 a.m. on Friday, March 20, 2020, in Courtroom C, U.S. Bankruptcy Court, U.S. Custom House, 721 19th Street, Denver, Colorado. Objections to the Disclosure Statement will be filed and served on or before March 16, 2020. About Revolar Technology Creditors Nicole Bagley, Praful Shah and Julianna Evans Caplan filed an involuntary Chapter 7 petition against Revolar Technology Inc. (Bankr. D. Colo. Case No. 18-17812) on Sept. 5, 2018. The case was converted to one under Chapter 11 on Oct. 30, 2018, and was assigned to Judge Michael E. Romero. The Debtor hired Kutner Brinen, P.C., as its bankruptcy counsel. RON’S EXCAVATING: Court Denies Cash Motion, Case Converted ------------------------------------------------------------ The U.S. Bankruptcy Court for the District of Massachusetts denied the motion to use cash collateral filed by Ron's Excavating Inc., following the Court's approval of the motion filed by the United States Trustee to convert the Debtor's Chapter 11 case to a case under Chapter 7. The Court, accordingly, denied the Debtor's cash collateral motion as unnecessary. About Ron's Excavating Ron's Excavating Inc., filed a Chapter 11 bankruptcy petition (Bankr. D. Mass. Case No. 19-12008) on June 12, 2019, disclosing under $1 million in both assets and liabilities. The Debtor is represented by David B. Madoff, a partner at Madoff & Khoury, LLP. ROSEGOLD HOTELS: Court Grants Interim OK on Cash Collateral Motion ------------------------------------------------------------------ Judge Brenda T. Rhoades authorized Rosegold Hotels LLC, dba Holiday Inn Express Eunice to use cash collateral to pay its direct operating expenses and obtain goods and services needed to carry on its business. The Court ruled that: (a) West Town Bank & Trust is granted valid, binding, enforceable, and perfected liens co-extensive with West Town's pre-petition liens in all currently owned or hereafter acquired property and assets of the Debtor. West Town asserts a lien on Debtor's personal property including room rents. (b) all cash accounts of Debtor and all accounts receivable collections by Debtor post-petition will be deposited in a separate cash collateral account (the DIP account) at Wells Fargo Bank. (c) all postpetition fees owed by Debtor to Holiday Hospitality Franchising, LLC pursuant to that certain Holiday Inn Express Change of Ownership License Agreement dated April 28, 2016 between HHF, as licensor, and Debtor, as licensee, will be paid in full monthly and in the ordinary course, and will not be limited by the budget. To the extent, however, that payments to HHF may exceed the budget amount, the Court ruled that notice will be provided to West Town as a part of the weekly accountings. (d) West Town is granted replacement liens and security interests, as adequate protection, to the extent of the diminution in value of its interests. A copy of the interim order is available for free at https://is.gd/FiaVC2 from PacerMonitor.com. Final hearing will be held on March 17, 2020, at 9:30 a.m About Rosegold Hotels LLC Rosegold Hotels LLC, d/b/a Holiday Inn Express Eunice, is a privately held company in the traveler accommodation industry. It filed a Chapter 11 bankruptcy petition (Bankr. E.D. Tex. Case No. 20-40502) on Feb. 19, 2020. In the petition signed by Rukshanda Hasham, managing member, the Debtor was estimated to have between $1 million and $10 million in both assets and liabilities. Joyce W. Lindauer, Esq., Attorney at Law & Mediator, represents the Debtor. RQW - REAL ESTATE: Unsecureds to be Paid in Full in Plan -------------------------------------------------------- RQW Real Estate Holdings, LLC, and RQW Automotive Services, LLC, submitted a Joint Plan of Reorganization and a Disclosure Statement. The Debtors' Plan provides for two classes of secured claims, two classes of unsecured classes, and four classes of equity security holders. The Bank will receive full payment of $1 ,352,000, in full and complete satisfaction of its allowed claim. The DuPage County Collector, the holder of a secured claim of approximately $24,000 against the Real Estate Debtor, will receive payment in full of all real estate taxes owed by Real Estate Debtor as of the Confirmation Date. Unsecured creditors holding allowed claims against Real Estate Debtor (virtually none) and Auto Debtor will receive a 100% distribution. The equity interests held by Wilkie Holdings Inc. in Real Estate Debtor and Auto Debtor will be cancelled and Eric Quick shall be the sole equity holder of the Debtors. The Joint Plan also provides for the payment of administrative and priority claims in full or as otherwise agreed to by the parties. The general unsecured claims against Real Estate Debtor in Class 3 (virtually none) are unimpaired and will be paid in full within 30 days of the Effective Date, with interest, funds to be made available by either operations or cash infusion by Eric Quick. General unsecured claims against Auto Debtor in Class 4 are impaired. Class 4 claims will be paid in full within 30 days of the Effective Date with interest, to be paid out of operations and/or the cash infusion by Eric Quick. Distributions under the Plan will be from the Debtor's operations and/or the cash infusion by Quick. A full-text copy of the Joint Disclosure Statement dated March 4, 2020, is available at https://tinyurl.com/yx6d4yy4 from PacerMonitor.com at no charge. The Debtors' counsel: Scott R. Clar Crane, Simon, Clar & Dan 135 S. LaSalle Street, Suite 3705 Chicago, Illinois 60603 Tel: 312-641-6777 About RQW Real Estate Holdings and RQW Automotive Services RQW Real Estate Holdings LLC is a single asset real estate debtor (as defined in 11 U.S.C. Section 101(51B)). RQW Real Estate Holdings and its affiliate, RQW Automotive Services LLC, filed voluntary Chapter 11 petitions (Bankr. N.D. Ill. Lead Case No. 19-35576) on Dec. 18, 2019. At the time of the filing, RQW Real Estate Holdings was estimated to have assets of between $1 million and $10 million and liabilities of the same range. RQW Automotive had estimated assets of between $1 million and $10 million and liabilities of less than $50,000. Judge Deborah L. Thorne oversees the cases. Crane, Simon, Clar and Dan is the Debtors' legal counsel. S&S CRAFTSMEN: Case Summary & 20 Largest Unsecured Creditors ------------------------------------------------------------ Debtor: S&S Craftsmen, Inc. 6404 East Columbus Drive Tampa, FL 33619 Business Description: S&S Craftsmen, Inc. owns and operates a millwork shop in Tampa, Florida. Chapter 11 Petition Date: March 17, 2020 Court: United States Bankruptcy Court Middle District of Florida Case No.: 20-02321 Debtor's Counsel: Alberto ("Al") F. Gomez, Jr., Esq. JOHNSON, POPE, BOKOR, RUPPEL & BURNS, LLP 401 East Jackston Street #3100 Tampa, FL 33602 Tel: 813-225-2500 Estimated Assets: $100,000 to $500,000 Estimated Liabilities: $1 million to $10 million The petition was signed by John L. Rosende, director. 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/R5gvzD SAN REMIGIO: Seeks Court Approval to Hire All Star Realtors ----------------------------------------------------------- San Remigio, LLC seeks authority from the U.S. Bankruptcy Court for the Southern District of Texas to employ All Star Realtors, Inc. to assist in the sale of its real properties. The properties to be sold include: a. Lot 3, Block 115, El Jardin Resubdivision 1.00 acre of 2.350 acres out of a 17.75, Brownsville, Cameron County, Texas, also known as 4311 FM 511, Brownsville, Texas; and b. Lot 3, Block 115, El Jardin Resubdivision 2.00 acres out of 17.75 acres, Brownsville, Cameron County, Texas. Martha Molina Gonzalez, the firm's real estate agent who will be providing the services, is a disinterested party within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Martha Molina Gonzalez All Star Realtors, Inc. 400 Paredes Line Rd Brownsville, TX 78521 Office: (956)546-3378 Fax: (956)546-5109 About San Remigio LLC San Remigio, LLC, a company based in Brownsville, Texas, filed a Chapter 11 petition (Bankr. S.D. Tex. Case No. 20-10008) on Jan. 7, 2020. At the time of the filing, the Debtor had estimated assets of between $500,001 and $1 million and liabilities of between $100,001 and $500,000. Judge Eduardo V. Rodriguez oversees the case. Enrique J Solana, PLLC, is the Debtor's legal counsel. SEABRAS 1 USA: Taps FTI Consulting as Financial Advisor ------------------------------------------------------- Seabras 1 USA, LLC and its affiliates received approval from the U.S. Bankruptcy Court for the Southern District of New York to employ FTI Consulting, Inc. as their financial advisor. The firm will provide these services in connection with the Debtors' Chapter 11 cases: a. prepare, update and provide variance reporting of a 13-week cash flow forecast in support of the Debtors' continued access to cash collateral; b. assist in the development of liquidity projections for lenders if necessary; c. assist in the analysis and preparation of bankruptcy filings, including the Debtors' bankruptcy plan and disclosure statement if necessary; d. respond to creditor groups and vendors if necessary; and e. assist in claim reconciliation and objections if necessary. FTI Consulting will be paid at these hourly rates: Senior Managing Directors $920 to $1,295 Directors/Senior Directors/Managing Directors $690 to $905 Consultants/Senior Consultants $370 to $660 Administrative/Paraprofessionals $150 to $280 Jiva Jagtap, senior managing director of FTI, disclosed in court filings that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. FTI can be reached at: Jiva J. Jagtap FTI Consulting, Inc. 999 17th Street, Suite 700 Denver, CO, 80202 Tel: +1 303 689 8800 Fax: +1 303 689 8803 About Seabras 1 USA Seabras 1 Bermuda LLC and its wholly-owned subsidiary Seabras 1 USA LLC own a fiber optic cable system between New York USA and Sao Paulo Brazil known as Seabras-1. Seabras-1 itself is fully operated by Seaborn Networks, a developer-owner-operator of submarine fiber optic cable systems. Seabras 1 Bermuda and Seabras 1 USA filed Chapter 11 petitions (Bankr. S.D.N.Y. Lead Case No. 19-14006) on Dec. 22, 2019. In the petitions signed by CEO Larry W. Schwartz, the Debtors were estimated to have $50 million to $100 million in assets and $100 million to $500 million in liabilities. The Debtors tapped Bracewell LLP as bankruptcy counsel; Barbosa Mussnich Aragao as local counsel; and Stretto as claims agent. SIGNS UP INC: Seeks to Hire H. Anthony Hervol as Attorney --------------------------------------------------------- Signs Up, Inc., seeks authority from the U.S. Bankruptcy Court for the Western District of Texas to employ the Law Office of H. Anthony Hervol, as attorney to the Debtor. Signs Up, Inc. requires H. Anthony Hervol to: a. represent the Debtor in the Chapter 11 case and advise the Debtor as to its rights, powers, and duties as debtor-in- possession; b. prepare all necessary statements, schedules and other documents and negotiate and prepare one or more plans of reorganization for the Debtor; c. represent the Debtor at all hearings, meetings of creditors, conferences, trials and other proceedings in the bankruptcy case; d. take necessary action to collect property of the estate and file suits to recover the same, pursue or defend other adversary proceedings as needed, or work with special counsel appointed by the Bankruptcy Court to pursue or defend any adversary proceedings; e. prepare on behalf of the Debtor necessary applications, motions, answers responses, orders, reports and other legal papers; f. object to disputed claims; and g. perform all other legal services for the Debtor as Debtor- in-possession which may be necessary herein. H. Anthony Hervol will be paid at the hourly rate of $285. The Debtor paid H. Anthony Hervol the amount of $6,717, including the filing fee. H. Anthony Hervol will also be reimbursed for reasonable out-of-pocket expenses incurred. H. Anthony Hervol, partner of the Law Office of H. Anthony Hervol, 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. H. Anthony Hervol can be reached at: H. Anthony Hervol, Esq. LAW OFFICE OF H. ANTHONY HERVOL 4414 Centerview Drive, Suite 207 San Antonio, TX 78228 Tel: (210) 522-9500 Fax: (522) 522-0205 About Signs Up Signs Up Inc., filed a Chapter 11 bankruptcy petition (Bankr. W.D. Tex. Case No. 20-10273) on February 21, 2020, disclosing under $1 million in both assets and liabilities. The Debtor is represented by H. Anthony Hervol, Esq., at the Law Office of H. Anthony Hervol. SILICON HILLS CAMPUS: Hires Ciardi Ciardi as Special Counsel ------------------------------------------------------------ Silicon Hills Campus, LLC seeks authority from the U.S. Bankruptcy Court for the Western District of Texas to hire Ciardi Ciardi & Astin, P.C. as its special counsel. As special counsel, the firm will: (1) prepare for, attend and conduct the deposition of the corporate representative of Tuebor REIT Sub, LLC; (2) advise the Debtor regarding the deposition and coordinate with its legal counsel; and (3) assist with any other deposition or any related lawsuit or adversary proceeding. The hourly rates for the firm's attorneys range from $300 to $625. The attorneys expected to provide the services are: Albert Ciardi, III $515 per hour Joseph McMahon Jr. $515 per hour Walter Gouldsbury III $495 per hour Albert Ciardi, III, Esq., a partner at the firm, assured the court that the firm is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code. Ciardi Ciardi can be reached at: Albert A. Ciardi, III, Esq. Ciardi Ciardi & Astin, P.C. 2005 Market Street, Suite 3500 Philadelphia, PA 19103 Tel: (215) 557-3550 Fax: (215) 557-3551 E-mail: aciardi@ciardilaw.com About Silicon Hills Campus Silicon Hills Campus, LLC classifies its business as single asset real estate (as defined in 11 U.S.C. Section 101(51B). Silicon Hills Campus filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Tex. Case No. 20-10042) on Jan. 7, 2020. In the petition signed by Brian Elliott, corporate counsel, the Debtor estimated $100 million to $500 million in assets and $50 million to $100 million in liabilities. Judge Tony M. Davis oversees the case. The Debtor tapped Waller Lansden Dortch & Davis, LLP as its legal counsel, and Lain, Faulkner & Co., P.C. as its accountant. SKYLINE RIDGE: Unsecured Claims to be Paid in Full -------------------------------------------------- Cinco Soldados LLC proposes a Plan of Reorganization for the reorganization for Skyline Ridge, LLC. According to Cinco, Skyline has a number of real estate properties encumbered by liens owed to various claimants, as well as unsecured creditors. Skyline is solvent. Skyline asserts a claim against Cinco on a debt made in 2006 when Cinco was formed. The claim is secured by a lien on Skyline's property. Skyline asserts that the obligation is the non-interest bearing capital contribution of Mr. Zarifi to Skyline with a balance of about $3,289,952. Skyline says the debt is interest-bearing and exceeds $8 million. The dispute is the subject of a pending action in the Superior Court of Arizona in Pima County. Cinco proposes to settle the dispute by paying the obligation. If Mr. Zarifi accepts the plan, the payment will be $3,290,000 less payments received by Skyline after September 5, 2018. If Mr. Zarifi rejects the offer, the payment will be $2,768,000, less payments received by Skyline after September 5, 2018, based upon the present value of $3,289,952 discounted because the note payments are made from lot sales that will not take place for years, and because Cinco will have to spend more legal fees on the fight and additional costs will be incurred. Either amount should pay all creditors in full. The Plan treats key claims as follows: * Class 4 consists of the Allowed Secured Claims held by Fotinos Properties, LLC, evidenced by a Promissory Note dated October 23, 2012 in the original principal amount of $520,000. As a compromise, the Class 4 Secured Claim shall be Allowed in the amount of $120,000, plus allowable legal fees and expenses, and paid $120,000 on the Distribution Date in full satisfaction of the claim, less any post-petition payments received prior to the Distribution Date. * Class 5 will consist of the Allowed Secured Claims held by Fotinos Properties, evidenced by a Promissory Note dated June 3, 2013 in the original principal amount of $300,000. The Class 5 Secured Claim will be Allowed in the amount of $600,683, plus allowable legal fees and expenses, and paid $600,000 on the Distribution Date, less any post-petition payments received before the Distribution Date, in full satisfaction of the claim. * Class 10 Unsecured Claims of Chapter 7 Trustee Trudy Nowak, in her capacity as trustee and not in her individual capacity, for the Chapter 7 bankruptcy estate of In re RL Ventures, LLC, Chapter 7 Case # 4:16-ap-00512-SHG, will be resolved by a compromise under the Plan wherein the Trustee receives $160,000 on the Distribution Date and the parties exchange mutual releases. The adversary proceeding will be dismissed. * Class 11 Unsecured Claims of Non-Insiders will be paid in full, in cash. * Class 12 Insider Unsecured Claims will be paid in full, in cash. A full-text copy of the Plan of Reorganization dated March 2, 2020, is available at https://tinyurl.com/vgsjatp from PacerMonitor.com at no charge. Attorneys for Cinco Soldados LLC: Robert M. Charles, Jr. Lewis Roca Rothgerber Christie LLP One South Church Avenue, Suite 2000 Tucson, AZ 85701-1611 Direct Dial: 520.629.4427 Direct Fax: 520.879.4705 Email: rcharles@lrrc.com About Skyline Ridge Based in Tucson, Ariz., Skyline Ridge, LLC, is an Arizona limited liability company categorized under residential contractor. Skyline Ridge filed for chapter 11 bankruptcy protection (Bankr. D. Ariz. Case No. 18-01908) on March 1, 2018. In the petition signed by Ahmad Zarifi, managing member and sole owner, the Debtor was estimated to have assets at $1 million to $10 million and liabilities at the same range. Michael Baldwin, PLC, is the Debtor's attorney. SPEEDWAY MOTORSPORTS: Moody's Reviews Ba3 CFR for Downgrade ----------------------------------------------------------- Moody's Investors Service placed Speedway Motorsports, LLC's ratings on review for downgrade, including the Ba3 corporate family rating, Ba3-PD Probability of Default Rating, and B1 senior unsecured note due to the coronavirus outbreak's potential impact on the ability to hold NASCAR events, as well as the negative effects on consumer sentiment and the overall economy. On March 13, 2020, it was announced that two upcoming NASCAR events will be postponed due the coronavirus. The review for downgrade will focus on any additional changes to the ability to hold future NASCAR races, leverage levels, interest coverage, and the company's liquidity position. The rating outlook was changed from stable to ratings under review. Issuer: Speedway Motorsports, LLC Corporate Family Rating, Placed on Review for Downgrade, currently Ba3 Probability of Default Rating, Placed on Review for Downgrade, currently Ba3-PD Senior Unsecured Notes due 2027, Placed on Review for Downgrade, currently B1 Outlook Actions: Issuer: Speedway Motorsports, LLC Outlook, Changed To Rating Under Review From Stable RATINGS RATIONALE The review for downgrade reflects the coronavirus' impact on Speedway's ability to hold large spectator events and the negative pressures on the overall economy. Speedway has entitlements to 13 NASCAR Cup races and other motor sport events at 8 owned facilities. Speedway has been impacted by multiyear declines in attendance due to reduced fan interest in NASCAR racing. Several changes to the sport have been made to increase fan interest and attract different demographic groups, but reduced fan interest is expected to continue to be a challenge for the company. Results are also sensitive to weather conditions during race events. Speedway benefits from two TV broadcast agreements with contractual increases through 2024, which have partly offset declines in admissions and food, beverage and merchandise revenue. The rapid and widening spread of the coronavirus outbreak, deteriorating global economic outlook, falling oil prices, and asset price declines are creating a severe and extensive credit shock across many sectors, regions and markets. The combined credit effects of these developments are unprecedented. The motor sport sector has been one of the sectors significantly affected by the shock given its sensitivity to consumer demand and sentiment. More specifically, the weaknesses in Speedway's credit profile have left it vulnerable to shifts in market sentiment in these unprecedented operating conditions and Speedway remains vulnerable to the outbreak continuing to spread. Moody's regards the coronavirus outbreak as a social risk under its ESG framework, given the substantial credit implications of public health and safety. The action reflects the impact on Speedway of the breadth and severity of the shock, and the broad deterioration in credit quality it has triggered. The principal methodology used in these ratings was Business and Consumer Service Industry published in October 2016. Speedway Motorsports, LLC, headquartered in Concord, NC, is the second largest promoter, marketer and sponsor of motor sports activities in the U.S. primarily through its ownership of eight major racetracks. NASCAR sanctioned events account for the vast majority of Speedway's revenue. SPINEGUARD INC: U.S. Trustee Unable to Appoint Committee -------------------------------------------------------- The Office of the U.S. Trustee on March 12, 2020 disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of SpineGuard, Inc. About SpineGuard Inc. Based in San Francisco, Calif., SpineGuard, Inc. -- https://www.spineguard.com/ -- is an importer and distributor of single-use, disposable, Dynamic Surgical Guidance (DSG) instruments that measure the density of tissue and enable surgeons to drill holes into the pedicles of a vertebral body in the spine during spinal fusion surgery, safely and without damaging nerves. The Debtor is a wholly-owned subsidiary of SpineGuard, S.A. SpineGuard sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Case No. 20-10332) on Feb. 13, 2020. At the time of the filing, the Debtor disclosed assets of between $1 million and $10 million and liabilities of the same range. Judge John T. Dorsey oversees the case. Neal L. Wolf, Esq., at Hanson Bridgett LLP is the Debtor's legal counsel. STAR CHAIN: GC Checkmate Buying All Assets for $1.5 Million ----------------------------------------------------------- Star Chain, Inc., US Star 1, LLC, US Star 5, LLC, US Star 11, LLC, US Star 12, LLC, US Star 16, LLC, US Star 17, LLC, US Star 19, LLC, US Star 20, LLC, US Star 21, LLC, US Star 27, LLC, US Star 31, LLC, US Star 33, LLC, US Star 36, LLC, filed with the U.S. Bankruptcy Court for the Northern District of Georgia an amended notice of their proposed bidding procedures in connection with the sale of substantially all assets used in the operation of their businesses, to GC Checkmate Holdings, LLC for $1.5 million, subject to overbid. The Debtors are affiliated entities and they share common ownership and operate as one business venture. The "US Star" Debtors operate one or more Checkers restaurants managed by Star Chain, the management company that handles all "back-office" services such as HR, accounting, and payroll. Star Chain is also a 50% to 100% equity owner in all US Star Debtors. Notwithstanding efforts by the Debtors to address the issues impacting the operations of the Debtors, the Debtors were unable to resolve such issues prior to filing the Cases. Since the filing of the Cases, the Debtors have continued to actively address the issues that led to the commencement of these Cases by exploring viable strategic options, including identifying potential strategic partners and exploring options to reorganize and/or sell the operations of the Debtors. After evaluating alternatives and consulting with their financial advisors, the Debtors concluded that it was in the best interests of the Debtors, their creditors, their employees and other parties in interest to effectuate a sale of the Purchased Assets. Such a going concern sale will enable the Purchaser to continue Purchased the businesses while also preserving hundreds of jobs and supporting the Debtors' local economies. The Debtors solicited offers for the assets of the Sellers and received offers from multiple parties. The highest purchase price for a talking horse bidder is represented by GC Checkmate, as the Stalking Horse Purchaser ("Initial Bidder" or "IB"), in their Asset Purchase Agreement. The terms proposed by IB are summarized in the Agreement. The Debtors and IB contemplate a sale of the Purchased Assets that is free and clear of any and all liens, claims, interests and encumbrances, with these to attach to the net proceeds generated from the sale of the Purchased Assets. The sale of Purchased Assets will also be subject to entry of an order by the Court finding the proposed transfer to be free and clear of all liens, claims and encumbrances, and further finding that the Purchaser will not be deemed to be a successor of the Debtors, and will not have any liability or responsibility for any obligations of the Debtors, other than those liabilities and obligations expressly assumed in the Agreement. The Debtors anticipate that IB, as the Initial Bidder, will have invested substantial time and effort in negotiating the material terms of an Agreement with the Sellers. It will have incurred various legal and other professional costs and expenses, and will incur still further substantial additional fees and costs in its continuing due diligence investigations. Subject to the terms of the Agreement reached with IB, if a closing occurs with respect to a sale of Purchased Assets to a party other than IB with respect to such assets, and IB was ready, willing and able to close the transaction pursuant to the Agreement, but was not selected as the highest and best bidder, and IB is not in default under the Agreement, the Debtors propose that IB (a) be paid an agreed-upon "Breakup Fee" in an amount equal to $50,000. The Sellers ask to identify the highest and best offer for the Purchased Assets by subjecting the proposal of the Initial Bidder in the Agreement to overbid at the Auction. In order to ensure that asset values are truly maximized, the Debtors ask that the Court approves the following bid procedures at the Procedures Hearing, so that competing offers for the assets of the Sellers will be accepted only if they meet the requirements: a. Bid Deadline: March 17, 2020 at 5:00 p.m. local time in Atlanta, Georgia b. Initial Bid: An amount equal to or greater than the sum of (a) the Purchase Price payable by IB under the Agreement, plus the Breakup Fee plus cash in an amount equal to $50,000 and (b) a cash deposit of $150,000 c. Deposit: $150,000 d. Auction: In the event the Debtors timely receive a conforming Initial Overbid from a prospective purchaser as described, then the Debtors will conduct an Auction with respect to the sale of the Purchased Assets on March 19, 2020, beginning at 10:00 a.m. local time, at the offices of counsel for the Debtors, Wiggam & Geer, LLC, 50 Hurt Plaza, SE, Suite 1150, Atlanta, Georgia 30303, or at such other location as may be designated by the Debtors. e. Bid Increments: $25,000 f. Sale Hearing: March 23, 2020 at 10:00 a.m. local time g. Sale Objection Deadline: The Debtors anticipate that any proposed Agreement will provide for the Debtors to assume and assign the franchise agreements between Debtors and Checkers to the Buyer. At this time, they're only certain that Checkers' consent is required for approval of the purchase and sale to the Buyer. The Debtors' counsel and Checkers’ counsel are working to determine whether any new Purchaser will enter into new franchise agreements with Checkers or whether Debtors’ current franchise agreements will be assumed and assigned to the Purchaser. In the case of the latter, the Debtors' move to assume their franchise agreements with Checkers and assign them to the Purchaser. The Debtors also propose and request to assign certain real property lease to the Purchaser as identified in Exhibit C. The objection deadline is 5:00 p.m. (ET) seven days prior to the Sale Hearing. Because of the need to close the transactions contemplated as promptly as possible, the Debtors ask that the Court orders and directs that the order approving the Motion will not be automatically stayed for 14 days. No previous request for the relief sought has been made in the Court or any other court. A copy of the APA is available at ttps://tinyurl.com/r2zttnu from PavcerMonitor.com free of charge. The Purchaser: GC CHECKMATE HOLDINGS, LLC 116 Radio Circle Drive, Ste. 200 Mt. Kisco, NY 10549 The Purchaser is represented by: Joshua R. Holden, Attorney WINCHESTER, SELLERS, FOSTER & STEELE, P.C. 800 South Gay Street, Ste. 1000 First Tennessee Plaza P.O. Box 2428 Knoxville, TN 37901-2428 Telephone: (865) 637-1980 Facsimile: (865) 637-4489 E-mail: Jholden@wsfs-law.com About Star Chain Star Chain, Inc., is a Georgia-based company that operates as the management company for all affiliated "US Star" debtors. The affiliated "US Star" debtors operate approximately four dozen restaurants with franchisors Captain D's, Checkers, Newk's, and Yogli Mogli. The Debtors' membership interests are owned by the same person, Omer Casurluk. The Debtors have common secured creditors and are part of one business operation. On Oct. 2, 2019, Star Chain, Inc., as Lead Debtor, and 26 other affiliates sought Chatper 11 protection (Bankr. N.D. Ga. Lead Case No. 19-65768) in Atlanta, Georgia. In the petition signed by Omer Casurluk, manager, Star Chain, Inc., was estimated to have assets at $1 million to $10 million, and liabilities at $10 million to $50 million. The Hon. Wendy L. Hagenau is the case judge. Wiggam & Geer, LLC is counsel to the Debtors. Rountree Leitman & Klein, LLC, is Wiggam & Geer's co-counsel. SUNESIS PHARMACEUTICALS: Avidity Partners, et al. Own 4.4% Stake ---------------------------------------------------------------- In a Schedule 13G filed with the Securities and Exchange Commission, these entities and individuals reported beneficial ownership of 4,951,925 shares of common stock of Sunesis Pharmaceuticals, Inc., which represents 4.4 percent of the shares outstanding. * Avidity Partners Management LP * Avidity Partners Management (GP) LLC * Avidity Capital Partners Fund (GP) LP * Avidity Capital Partners (GP) LLC * David Witzke * Michael Gregory The percentage of ownership is based on 111,320,000 shares of Common Stock of the Company outstanding as of Nov. 5, 2019, as reported on the Issuer's Form 10-Q quarterly report filed on Nov. 12, 2019. A full-text copy of the regulatory filing is available for free at: https://is.gd/dEvPWl About Sunesis Pharmaceuticals Headquartered in San Francisco, California, Sunesis -- http://www.sunesis.com/-- Sunesis is a biopharmaceutical company developing novel targeted inhibitors for the treatment of hematologic and solid cancers. Sunesis has built an experienced drug development organization committed to improving the lives of people with cancer. The Company is focused on advancing its novel kinase inhibitor pipeline, including its oral non-covalent BTK inhibitor vecabrutinib and first-in-class PDK1 inhibitor SNS-510. Sunesis reported a net loss of $23.33 million for the year ended Dec. 31, 2019, compared to a net loss of $26.61 million for the year ended Dec. 31, 2018. As of Dec. 31, 2019, the Company had $37.24 million in total assets, $9.69 million in total liabilities, and $27.54 million in total stockholders' equity. Ernst & Young LLP, in Salt Lake City, Utah, the Company's auditor since 1998, issued a "going concern" qualification in its report dated March 10, 2020 citing that the Company has suffered recurring losses from operations and has stated that substantial doubt exists about the Company's ability to continue as a going concern. TAMPA BAY MARINE: Seeks to Hire Blanchard Law as Legal Counsel -------------------------------------------------------------- Tampa Bay Marine Towing & Service, Inc. seeks authority from the U.S. Bankruptcy Court for the Middle District of Florida to hire Blanchard Law, P.A. as its legal counsel. The firm will provide services in connection with the Debtor's Chapter 11 case, which include advising the Debtor of its powers and duties in the continued operation of its business and management of its property. Blanchard Law will be paid at these hourly rates: Attorneys $300 Associates $250 Paralegals $90 The firm will be paid a retainer in the amount of $5,000, exclusive of filing fee, and will be reimbursed for work-related expenses incurred. Jake Blanchard, Esq., partner at Blanchard Law, assured the court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. Blanchard Law can be reached at: Jake C. Blanchard, Esq. Blanchard Law, P.A. 1501 Belcher Road South, Unit 2B Largo, FL 33771 Tel: (727) 531-7068 Fax: (727) 535-2086 Email: jake@jakeblanchardlaw.com About Tampa Bay Marine Towing & Service Tampa Bay Marine Towing & Service, Inc. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 20-01418) on Feb. 14, 2020, listing under $1 million in both assets and liabilities. Jake Blanchard, Esq., at Blanchard Law P.A., represents the Debtor as legal counsel. TAX AND FINANCIAL: Seeks to Hire Caddell Reynolds as Legal Counsel ------------------------------------------------------------------ Tax and Financial Advantage Group, Inc. seeks authority from the U.S. Bankruptcy Court for the Eastern District of Arkansas to hire Caddell Reynolds as its legal counsel. Caddell Reynolds will advise the Debtor of its powers and duties under the Bankruptcy Code and will provide other legal services in connection with its Chapter 11 case. The firm's attorneys and other personnel will be paid at their standard hourly rates for their services. Caddell Reynolds does not represent interests adverse to the Debtor and its bankruptcy estate, according to court filings. The firm can be reached through: Joel Hargis, Esq. Caddell Reynolds 3000 Browns Lane Jonesboro, AR 72401 Phone: (870) 336-6407 Email: jhargis@justicetoday.com About Tax and Financial Advantage Group Tax and Financial Advantage Group, Inc. filed a petition under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Ark. Case No. 20-10425) on Jan. 27, 2020, listing under $1 million in both assets and liabilities. Judge Phyllis M. Jones oversees the case. Joel G. Hargis, Esq., at Caddell Reynolds, is the Debtor's legal counsel. TNTMD PA: U.S. Trustee Unable to Appoint Committee -------------------------------------------------- The U.S. Trustee, until further notice, will not appoint an official committee of unsecured creditors in the Chapter 11 case of TNTMD PA, according to court dockets. TNTMD, P.A., filed a Chapter 11 bankruptcy petition (Bankr. M.D. Fla. Case No. 20-00291) on Jan. 29, 2020, disclosing under $1 million in both assets and liabilities. The Debtor is represented by Jason A. Burgess, Esq., at Judge Cynthia C. Jackson oversees the case. The Law Offices of Jason A. Burgess, LLC. TOPAZ VILLAS: Unsecureds to be Paid in Full in 12 Months -------------------------------------------------------- Topaz Villas, L.P., filed a Chapter 11 Plan and a Disclosure Statement. Holders of Class 1 Secured Claims, Class 2 Secured Tax Claims, and Class 3 Ad Valorem Tax Claims will receive full payment of its Claims no later than twelve months following the Effective Date through the sale of the Yoakum Lot. Class 4 General Unsecured Claims against Topaz will be paid in full on the earlier of 12 months following the Effective Date or the sale of the Yoakum Lot in Cash. A full-text copy of the Disclosure Statement dated March 2, 2020, is available at https://tinyurl.com/wtwnzae from PacerMonitor.com at no charge. Attorneys for Topaz VILLAS, L.P.: 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 Topaz Villas Topaz Villas, LP is a Single Asset Real Estate debtor (as defined in 11 U.S.C. Section 101(51B)). Topaz Villas filed for Chapter 11 bankruptcy protection (Bankr. S.D. Tex. Case No. 19- 36697) on December 2, 2019. The Hon. Jeffrey P. Norman oversees the case. In its petition, the Debtor was estimated to have $1 million to $10 million in both assets and liabilities. The petition was signed by Ronald Lozoff, manager, Topaz Villas Development GP, LLC. The Debtor is represented by Susan Tran Adams, Esq., at Corral Tran Singh, LLP. ULTRA PETROLEUM: Executives Will Receive $1.6M Incentive Bonuses ---------------------------------------------------------------- The Board of Directors of Ultra Petroleum Corp. approved amendments to the employment agreements between the Company and its executive officers, including Brad Johnson, David W. Honeyfield, Jerald J. Stratton, Jr., Kason D. Kerr, James N. Whyte and Mark T. Solomon, pursuant to which each Executive would be entitled to receive a one-time incentive bonus in the following amounts: Additional Incentive Name/Position Bonus ------------- ---------- Brad Johnson, President and CEO $411,250 David W. Honeyfield, SVP and CFO $375,000 Jerald J. Stratton, Jr., SVP and COO $325,000 Kason D. Kerr, VP, Gen. Counsel & Corp Secretary $250,000 James N. Whyte, SVP and CHRO $100,000 Mark T. Solomon, VP, Controler and CAO $100,000 Each Executive's Additional Incentive Bonus will vest and become payable, if at all, in a lump sum cash amount, with respect to (i) one-third of the Additional Incentive Bonus, on March 1, 2021 and (ii) the remaining two-thirds of the Additional Incentive Bonus on Sept. 1, 2021, provided, that if the Company terminates an Executive without cause (as defined in the Executive's employment agreement) or an Executive resigns for good reason (as defined in the Executive's employment agreement), then such Executive would be entitled to receive any unpaid Additional Incentive Bonus. About Ultra Petroleum Headquartered in Englewood, Colorado, Ultra Petroleum Corp. -- http://www.ultrapetroleum.com-- is an independent energy company engaged in domestic natural gas and oil exploration, development and production. The Company is listed on NASDAQ and trades under the ticker symbol "UPL". As of Sept. 30, 2019, the Company had $1.84 billion in total assets, $2.69 billion in total liabilities, and a total shareholders' deficit of $843.8 million. The Nasdaq Stock Market, Inc. had determined to remove from listing the common stock of Ultra Petroleum Corp., effective on Sept. 3, 2019. Based on review of information provided by the Company, Nasdaq Staff determined that the Company no longer qualified for listing on the Exchange pursuant to Listing Rule 5450(a)(1). * * * As reported by the TCR on Oct. 2, 2019, S&P Global Ratings lowered the issuer credit rating on U.S.-based oil and gas exploration and production (E&P) company Ultra Petroleum Corp. to 'CCC-' from 'CCC+'. The downgrade follows Ultra's recent announcement that it is suspending drilling in the Pinedale by the end of September in response to unfavorable natural gas pricing. In December 2019, Fith Ratings affirmed the Long-Term Issuer Default Ratings on Ultra Petroleum Corp. and Ultra Resources, Inc at 'CCC'. Fitch's rating reflects the expected decline in production, high leverage metrics, and minimal asset coverage, which are partially offset by Ultra's low operating and drilling cost structure and expected ability to maintain neutral FCF in the near term. UNIT CORP: Reports $553.9 Million Net Loss for 2019 --------------------------------------------------- Unit Corporation filed with the Securities and Exchange Commission its Annual Report on Form 10-K reporting a net loss attributable to the company of $553.88 million on $674.63 million of total revenues for the year ended Dec. 31, 2019, compared to a net loss attributable to the company of $45.29 million on $843.28 million of total revenues for the year ended Dec. 31, 2018. The 2019 results included the following pre-tax non-cash write-downs: $559.4 million ceiling test write-down in the carrying value of Unit's oil and natural gas properties and certain gathering system assets; $62.8 million in goodwill associated with the contract drilling segment; and $3.0 million in the carrying value of line-fill associated with the mid-stream segment and the write-off of two small gas gathering systems. Excluding the effect of the 2019 write-downs and the effect of non-cash commodity derivatives, adjusted net loss attributable to Unit was $59.6 million, or $1.13 per diluted share, as compared to adjusted net income attributable to Unit of $51.9 million, or $1.00 per diluted share, for 2018. As of Dec. 31, 2019, the Company had $2.09 billion in total assets, $260.05 million in total current liabilities, $663.22 million in long-term debt less debt issuance costs, $27,000 in non-current derivative liabilities, $2.07 million in operating lease liability, $95.34 million in other long-term liabilities, $13.71 million in deferred income taxes, and $1.05 billion in total shareholders' equity. PricewaterhouseCoopers LLP, in Tulsa, Oklahoma, the Company's auditor since 1989, issued a "going concern" qualification in its report dated March 16, 2020, citing that the Company has incurred significant losses, is in a negative working capital position, and does not anticipate that forecasted cash and available credit capacity will be sufficient to meet their commitments over the next twelve months, which raises substantial doubt about its ability to continue as a going concern. Fourth Quarter Results Net loss attributable to Unit for the quarter was $335.0 million, or $6.33 per diluted share, compared to net loss attributable to Unit of $77.8 million, or $1.49 per diluted share, for the fourth quarter of 2018. The quarter's results included the following pre-tax non-cash write-downs: $390.0 million ceiling test write-down in the carrying value of Unit's oil and natural gas properties and $0.8 million relating to the write-off of two small gas gathering systems. (For the fourth quarter of 2018, Unit recorded a pre-tax non-cash write-down of $147.9 million associated with the removal of 41 drilling rigs from its drilling fleet along with some other equipment.) Adjusted net loss attributable to Unit (which excludes the effect of non-cash commodity derivatives and the effects of the write-downs) for the quarter was $35.5 million, or $0.67 per diluted share, as compared to adjusted net income attributable to Unit of $13.8 million, or $0.27 per diluted share, for the same quarter for 2018. Total revenues for the quarter were $164.4 million (51% oil and natural gas, 22% contract drilling, and 27% mid-stream), compared to $214.8 million (49% oil and natural gas, 25% contract drilling, and 26% mid-stream) for the fourth quarter of 2018. Adjusted EBITDA attributable to Unit was $65.4 million, or $1.23 per diluted share. OIL AND NATURAL GAS SEGMENT INFORMATION For the quarter, total equivalent production was 4.2 million barrels of oil equivalent (MMBoe), a 5% decrease from the third quarter. Oil and NGLs production represented 48% of total equivalent production. Oil production was 9,423 barrels per day, a decrease of 6% from the third quarter. NGLs production was 12,132 barrels per day, a 10% decrease from the third quarter. Natural gas production was 141.8 million cubic feet (MMcf) per day, a 2% decrease from the third quarter. Total equivalent production for 2019 was 16.8 MMBoe, a 1% decrease from 2018. Unit's average realized per barrel equivalent price for the quarter was $20.41, an increase of 9% over the third quarter. Unit's average natural gas price was $1.97 per thousand cubic feet (Mcf), an increase of 8% over the third quarter. Unit's average oil price was $57.33 per barrel, an increase of 1% over the third quarter. Unit's average NGLs price was $13.11 per barrel, an increase of 54% over the third quarter. All prices in this paragraph include the effects of derivative contracts. In the Southern Oklahoma Hoxbar Oil Trend (SOHOT) and the Red Fork plays in western Oklahoma, 14 horizontal wells were completed in 2019. This mix of Marchand and Red Fork wells enabled the company to increase its oil production percentage. Annual production from western Oklahoma averaged 95.7 MMcfe per day (35% oil, 22% NGLs, and 43% natural gas). In the Wilcox play in Southeast Texas, seven vertical natural gas and condensate wells were completed in 2019. Annual production from the Wilcox play averaged 76 MMcfe per day (7% oil, 21% NGLs, and 72% natural gas). In addition to the new wells, the company continued its recompletion program. In the Granite Wash play, two extended length lateral horizontal wells were completed in 2019. Annual production from the Texas panhandle averaged 91.9 MMcfe per day (9% oil, 37% NGLs, and 55% natural gas). Larry Pinkston, chief executive officer and president, said: "For this segment, our focus for 2019 was to increase the proportion of oil in our production mix, specifically with the results from the new Redfork and Marchand wells, which met or exceeded our expectations. We were able to increase our oil production by 12% year-over-year. We suspended our operated drilling rig program at the beginning of the third quarter, and we are not operating any drilling rigs at this time. We have continued our participation in non-operated wells in the Mid-Continent region, participating in 61 such wells with an average working interest of approximately 4%. In December of 2019, we sold our Panola Field in eastern Oklahoma for $18 million." Pinkston said: "In an effort to accelerate growth of this segment through the acquisition and consolidation of synergistic assets, we completed an acquisition in December of approximately 600 miles of gathering pipeline and compression in central Oklahoma. The acquired assets will complement this segment's existing infrastructure and allow for greater operational flexibility and efficiency between gathering and processing facilities in the area. Our goal is to continue to search for these types of opportunities that will allow us to grow this segment." 2020 CAPITAL BUDGET For 2020, Unit's oil and natural gas segment does not currently have any plans to drill wells at this time. The contract drilling segment has no approved capital plan for 2020. Any capital expenditures incurred would be within segment anticipated cash flows. The mid-stream segment has a capital expenditures plan of approximately $28 million, a decrease of 57% from 2019. FINANCIAL INFORMATION Unit ended the quarter with long-term debt of $663.2 million, consisting of $646.7 million in senior subordinated notes (net of unamortized discount and debt issuance costs) and $16.5 million in borrowings under the Superior credit facility. Unit's current portion of long-term debt outstanding is $108.2 million under the Unit credit agreement. The Unit Corporation credit agreement borrowing base was re-determined effective as of Jan. 17, 2020 with a new borrowing base set at $200 million. The Superior credit agreement remains in place with a facility size of $200 million. A full-text copy of the Form 10-K is available for free at: https://is.gd/w2o3y6 About Unit Corporation Unit Corporation -- http://www.unitcorp.com/-- is a Tulsa-based, publicly held energy company engaged through its subsidiaries in oil and gas exploration, production, contract drilling, and gas gathering and processing. Unit's Common Stock is listed on the New York Stock Exchange under the symbol UNT. * * * As reported by the TCR on Nov. 15, 2019, Moody's Investors Service downgraded Unit Corporation's Probability of Default Rating to Ca-PD from B3-PD, Corporate Family Rating to Caa1 from B3, and senior subordinated notes to Caa2 from Caa1. The downgrade of the PDR reflects Unit's proposed debt exchange offer, which Moody's views to be a distressed exchange. The Caa1 CFR and Caa2 rating on the 2021 notes reflect Moody's view on expected recovery, which is likely to be in the 80%-90% range. Prior to the exchange offer, Unit was contending with depressed commodity prices, looming maturities in a challenged refinancing environment and declining cash flow, Moody's said. As reported by the TCR on Jan. 21, 2020, Fitch Ratings downgraded the Long-Term Issuer Default Rating of Unit Corporation to 'CC' from 'CCC+'. Fitch's downgrade and watch reflect the company's heightened refinancing and liquidity risks associated with pro-longed operational deterioration since its bond exchange announcement. VESTAVIA HILLS: MED Healthcare Buying All Assets for $12 Million ---------------------------------------------------------------- Vestavia Hills, Ltd., asks the U.S. Bankruptcy Court for the Southern District of California to authorize the bidding procedures in connection with sale of substantially all assets to MED Healthcare Partners, LLC for $12 million, subject to overbid. The Debtor is an Alabama limited partnership with its home office and principal place of business in San Diego, California. It operates a retirement community business in Vestavia Hills, Alabama commonly known as Mount Royal Towers. The Debtor provides skilled nursing services and independent living services to approximately 150 elderly residents under its care in its Mount Royal Towers facility. The Debtor employs 152 employees, including 136 who are paid on an hourly basis and 17 who earn salaries. In addition to its employees, the Debtor uses the services of independent contractors to perform specialized tasks that, for various reasons, the employees cannot perform. Over the past six years, the Debtor has struggled to secure viable refinancing alternatives for the Wells Fargo loan -- the arbitration of which resulted in an amount due of more than $18 molliom. Refinancing proved challenging and unsuccessful due in part to the size of the loan debt, volatility in the industry, and post-2008 lender hesitance to make loans of this size and type. During this same time, the Debtor has actively pursued a sale of its principal operating assets, including the Mount Royal Towers real estate and the related personal property ("Assets"). In 2016, the Debtor retained Blueprint Healthcare Real Estate Advisors to assist in evaluating and effecting a sale. Blueprint is a real estate brokerage and advisory firm that specializes in senior housing and healthcare real estate. In 2017, Blueprint found a potential buyer who entered into a purchase agreement for the Debtor's Assets -- but after performing due diligence for several months, that buyer backed out of the sale. Thereafter, the Debtor found a second buyer -- Commonwealth Assisted Living, LLC, Series E -- and entered into a sale agreement with it. Despite the Debtor having provided Commonwealth with numerous extensions of time to close the transactions, Commonwealth never did so, and the contract ultimately terminated due to Commonwealth’s failure to perform timely. Commonwealth then launched the extensive litigation that became the key driver necessitating the Debtor's bankruptcy. Based on historical performance, the Debtor projects a monthly operating deficit on a cash basis of approximately $70,000 going forward for the next six months. This operating deficit does not include interest payments to Wells Fargo, or professional fees in the Chapter 11 case -- meaning that the Debtor's actual cash needs will be greater than $70,000 per month until such time as the Assets can be sold. The Debtor’s current cash position is approximately $141,000. At present, the Debtor's finances do not allow it to continue in business long term, given its ongoing operational losses, the large award just granted to Wells Fargo in the arbitration, and the ceaseless litigation with Commonwealth. Of course, the most important constituents implicated here are the elderly residents of Mount Royal Towers. They must be provided in-place uninterrupted continuity of care. The best (and perhaps only) manner in which these residents can be protected is through an expedited sale of the Debtor's operating assets to a new owner qualified to own and operate the Mount Royal Towers facility. In recognition of all the foregoing events and factors, the Debtor began to explore the possibility of a section 363 bankruptcy sale free and clear of any disputed claims and interests of Commonwealth, the proceeds of which would be used to pay some or all of the Wells Fargo loan and hopefully other creditors. In January of 2019, the Debtor re-engaged Blueprint to search further for a potential purchaser. After extensive marketing, Blueprint identified a potential buyer to the Debtor which was willing to pursue this course of action and serve as a stalking horse bidder. In the months leading up to the Chapter 11 filing, the Debtor negotiated and entered into, subject to Court approval and overbid, a stalking horse asset purchase agreement with the proposed buyer. Commonwealth served discovery on the stalking horse. The Debtor believes that Commonwealth's hostilities led the stalking horse to exercise its contractual right to terminate the purchase agreement -- which it did on De. 31, 2019, three days before the bankruptcy was filed. Commonwealth's efforts to drive the price of the Debtor's assets lower have succeeded. The purchase price in the 2017 agreement was $22,670,000. The original purchase price in the 2018 Commonwealth agreement was $19 million. The purchase price in the prior stalking horse agreement of 2019 was $17 million. The purchase price in the Agreement at issue in this Motion is $12 million. Following the termination of the aforementioned purchase agreement, the Debtor diligently and aggressively marketed its assets, which led to the Debtor's instant purchase agreement with the proposed Stalking Horse. After Commonwealth drove away the pre-petition stalking horse, Blueprint immediately went back to work, approaching another potential bidder who had been on its radar. Those discussions proved fruitful, and on Feb. 6, 2020, the Debtor entered into a new stalking horse asset purchase agreement for the Assets, as well as assumption and assignment of certain executory contracts and unexpired leases to be designated, subject to Court approval and overbid, with the Stalking Horse. The Stalking Horse is a proven provider of skilled nursing, assisted living, and rehabilitation services. Along with its partner management companies, it manages and operates over 115 skilled nursing facilities with over 10,000 resident beds in 20 states. In particular, it has bought assets out of bankruptcies in section 363 sales. Accordingly, the Stalking Horse understands the section 363 sale process, and has demonstrated an ability to close purchases in the bankruptcy sale context. As described, the purchase price, subject to overbid, has now fallen to $12 million. The Agreement provides for a breakup fee of $400,000 in the event that the Stalking Horse is overbid by a third party -- and the Overbid Procedures provide for an initial overbid increment of $500,000, so as to achieve a net economic "win" for the estate even if there is only one overbidder. Throughout Blueprint's extensive efforts since 2016 in securing multiple purchasers, given its commission-based engagement agreement, Blueprint has yet to be compensated by the Debtor. With this Motion, the Debtor requests authority to employ Blueprint as its sole broker and real estate advisor for sale of the Debtor's Assets in connection with its Chapter 11 bankruptcy on a commission-based compensation basis. The Debtor requires the services of a real estate advisor and broker knowledgeable in the sale of healthcare real estate to adequately market and sell the Assets. It is necessary and essential that the Debtor employ Blueprint to provide healthcare real estate advisory services in this Chapter 11 case. The Debtor desires to employ Blueprint under a new commission-based engagement agreement. The agreement provides for a commission equal to 1.5 % of the purchase price to be paid in full directly from sale proceeds upon closing. Blueprint will bear the cost of its own expenses. The Debtor proposes to solicit overbids for the Assets utilizing the Overbid Procedures. The Overbid Procedures reflect the Debtor's objective of conducting the auction in a controlled, fair, and open manner, while enabling the Debtor to select the highest or otherwise best offers for the Assets. The salient terms of the Overbid Procedures are: a. Bid Deadline: 21 days before the Sale Hearing b. Initial Bid: $12.5 million c. Deposit: TBD d. Auction: TBD e. Bid Increments: $100,000 f. Sale Hearing: TBD g. Sale Objection Deadline: TBD h. Closing: The closing will take place on the date which will be the first day of the month following the last to occur of the following, or such earlier date as the Parties may agree. The Debtor also asks approval of the Sale Notice to facilitate the sale process and enable the Debtor to provide interested parties with adequate and sufficient notice of the proposed auction and the sale hearing. The Debtor proposes to serve, no later than two business days following the Court's entry of the Overbid Procedures Order, a copy of the Sale Notice upon all Sale Notice Parties. After nine amendments which included multiple closing extensions provided by the Debtor to Commonwealth, it became apparent that Commonwealth had alternative motives and intentions with respect to its purchase of Mount Royal Towers. Out of an abundance of caution, with the Motion, the Debtor asks Court approval to reject the Commonwealth Agreement to the extent it or any portion of it is executory. As has become clear, attempting to further engage with Commonwealth has and will only lead to further litigation. As part of the relief requested, the Debtor also asks authority to assume and assign all Designated Contracts designated by the winning bidder. The Overbid Procedures specify the process by which the Debtor will serve notice of the potential assumption/assignments and cure amounts on counterparties, and the procedures and deadlines for counterparties to file objections. In the interest of attracting the best bids for the Assets, the Debtor submits that the sale should be free and clear of all liens, claims and encumbrances (except for any specifically permitted encumbrances), with any such liens, claims and encumbrances attaching to the net proceeds of the sale, as and to the extent applicable. Finally, the Debtor asks that the Court waives the 14-day stays under Bankruptcy Rules 6004(h) and 6006(d), respectively, in connection with the sale. A copy of the Overbid Procedures is available at https://tinyurl.com/uxcmur5 from PacerMonitor.com free of charge. About Vestavia Hills Vestavia Hills, Ltd., which conducts business under the name Mount Royal Towers, operates a continuing care retirement community and assisted living facility for the elderly in Vestavia Hills, Ala. It offers individualized senior living options for a convenient community lifestyle and provides personalized nursing care. Vestavia Hills sought Chapter 11 protection (Bankr. S.D. Cal. Case No. 20-00018-11) on Jan. 3, 2020. The Debtor disclosed $18,531,957 in assets and $29,742,790 in liabilities as of the bankruptcy filing. Judge Louise Decarl Adler oversees the case. Sullivan Hill Rez & Engel is the Debtor's legal counsel. WANSDOWN PROPERTIES: Granted Interim Access to Cash Collateral -------------------------------------------------------------- Wansdown Properties Corporation N.V. asked the Bankruptcy Court to authorize use of cash collateral to pay expenses necessary to maintain a real estate property it owns consisting of a townhouse located in 29 Beekman Place, New York. The property is encumbered by a mortgage in favor of National Investment Bank N.A. The mortgage lender filed a proof of claim against the Debtor asserting a fully secured claim in the amount of $5,627,089, inclusive of interest, default interest, and fees. According to a payoff letter provided by the mortgage lender, its claim as of Feb. 10, 2020 is $5,846,628. Previously, the Bankruptcy Court has authorized the Debtor to assume a residential contract of sale and to sell the property to 29 Beekman Corp., which sale, however, did not close. Thereafter, the Debtor delivered a notice of termination with respect to the purchase agreement and the purchaser's forfeiture of the $1,030,000 deposit. The mortgage lender has made a request for turnover of the deposit net of the amounts to be expended pursuant to the cash collateral motion, a copy of which is available at https://is.gd/Yjwloy from PacerMonitor.com free of charge. Judge Stuart M. Berstein approved the Debtor's request to use the cash collateral through the earliest to occur of (i) March 11, 2020, (ii) the entry of a Court order terminating the right to use the cash collateral, or (iii) the dismissal of the Debtor's Chapter 11 case or its conversion to a case under Chapter 7 of the Bankruptcy Code. Judge Berstein also ruled that 29 Beekman Corp., with the consent of the mortgage lender and a certain Azadeh Nasser Azari, have a priority first lien on the property to the extent (i) of the amount of funds actually disbursed from the deposit by the Debtor under this Interim Order, and (ii) that the Purchaser is hereafter determined by the Court to own interest in the deposit. A copy of the interim order is available at https://is.gd/jQ2bE5 from PacerMonitor.com at no charge. About Wansdown Properties Wansdown Properties Corporation, N.V.'s primary asset is a seven-story townhouse located at 29 Beekman Place, New York, New York. It was incorporated in 1979 under the laws of Curacao, in accordance with Article 38 of the Commercial Code of the Netherlands Antilles and continues to exist under the laws of the Netherland Antilles. Wansdown Properties was formed as a holding company to own and manage the Property for an affluent individual who deceased in January 2016. About Wansdown Properties Wansdown Properties Corporation, N.V.'s primary asset is a seven-story townhouse located at 29 Beekman Place, New York, New York. It was incorporated in 1979 under the laws of Curacao, in accordance with Article 38 of the Commercial Code of the Netherlands Antilles and continues to exist under the laws of the Netherland Antilles. Wansdown Properties was formed as a holding company to own and manage the Property for an affluent individual who deceased in January 2016. Wansdown Properties Corporation sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Case No. 19-13223) on Oct. 8, 2019. At the time of the filing, the Debtor was estimated to have assets of between $10 million and $50 million and liabilities of the same range. The case is assigned to Judge Stuart M. Bernstein. The Debtor is represented by Rubin LLC. WATSON VALVE: Obtains Interim Court Nod to Use Cash Collateral -------------------------------------------------------------- Watson Valve Services, Inc., sought and obtained interim permission from Judge Marvin Isgur to use cash collateral in order to conduct limited operations and to pay certain expenses aggregating $24,500 relating to the preservation of its business. Before the Petition Date, the Debtor and debtor affiliate Watson Grinding have a secured revolving line of credit with Texas Capital Bank, National Association pursuant to Loan and Security Agreement dated Oct. 25, 2017, as amended, and a promissory note dated Oct. 25, 2017, as amended. The promissory note has a current principal balance of approximately $3,000,000. The Debtor has anticipated a long-term interruption of normal business activities due to difficulties in obtaining its business records, which resulted in its inability to fully evaluate the details of its financial condition. Previously, the Debtor has obtained interim permission to use cash collateral for the limited purposes of paying employee wages and benefits. Pursuant to this second interim order, Judge Isgur directed Texas Capital to honor all checks issued by the Debtor, without prejudice to Texas Capital's right to seek adequate protection of its interest or relief from the automatic stay. The Debtor has requested for a schedule of a hearing to consider a request to use cash collateral on a final basis. About Watson Valve Services Watson Valve Services, Inc., founded in 2002 in Houston, Texas, supplies specialty and custom valves, with a specialty in valves for autoclaves used to mine gold. The company filed a Chapter 11 petition (Bankr. S.D. Tex. Case No. 20-30968) on February 6, 2020 in Houston, Texas. John Watson is the Debtor's chief executive officer. Judge Marvin Isgur oversees the case. McDowell Hetherington LLP represents the Debtor as counsel. The firm may be reached through: Jarrod B. Martin, Esq. Kate H. Easterling, Esq. Avi Moshenberg, Esq. McDowell Hetherington LLP 1001 Fannin Street Suite 2700 Houston, TX 77002 Telephone: 713-337-5580 Facsimile: 713-337-8850 E-mail: Jarrod.Martin@mhllp.com Kate.Easterling@mhllp.com Avi.Moshenberg@mhllp.com WC HIRSHFELD: Seeks to Hire Ciardi Ciardi as Bankruptcy Counsel --------------------------------------------------------------- WC Hirshfeld Moore, LLC and its affiliates seek authority from the U.S. Bankruptcy Court for the Western District of Texas to hire Ciardi Ciardi & Astin as their bankruptcy counsel. The firm will provide these services in connection with the Debtors' Chapter 11 cases: a. assist the Debtors in the reorganization or liquidation of the bankruptcy estates' assets; b. review and defend actions brought against the Debtors or the estates; c. prepare legal documents; d. handle discovery-related matters, including issuing and responding to written discovery, and preparing for or attending depositions; e. confer with creditors, the bankruptcy court, the Office of the United States Trustee and other parties; and f. assist the Debtors in carrying out their duties in the administration of the estates. The hourly rates range from $300 to $625 for attorneys and $95 to $205 for paraprofessionals. The principal attorneys assigned to handle the cases are: Albert A. Ciardi III $515 per hour Joseph J. McMahon, Jr. $515 per hour Walter W. Gouldsbury III $495 per hour Ciardi received a retainer in the amount of $115,453. Joseph McMahon, Jr., Esq., at Ciardi, assures the court that the firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Daniel K. Astin, Esq. Joseph J. McMahon Jr., Esq. Ciardi Ciardi & Astin 1204 N. King Street Wilmington, DE 19801 Tel: (302) 658-1100 Fax: (302) 658-1300 Email: dastin@ciardilaw.com jmcmahon@ciardilaw.com About WC Hirshfeld Moore WC Hirshfeld Moore, LLC and its debtor-affiliates filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Case No. 20-10247) on Feb. 3, 2020. At the time of the filing, WC Hirshfeld disclosed assets of between $10 million and $50 million and liabilities of the same range. On Feb. 19, 2020, the cases were transferred to the U.S. Bankruptcy Court for the Western District of Texas. The cases are jointly administered under Case No. 20-10251. Judge Tony M. Davis oversees the cases. The Debtors are represented by Ciardi, Ciardi & Astin. WD-I ASSOCIATES: Taps Cherry Bekaert as Accountant -------------------------------------------------- WD-I Associates, LLC received approval from the U.S. Bankruptcy Court for the District of South Carolina to employ Cherry Bekaert, L.L.P. as its accountant. Cherry Bekaert will provide these services: a. prepare 2019 tax returns with supporting schedules for the state of South Carolina;; b. prepare 2020 federal and state estimated income tax payment vouchers, if required; c. compute tax depreciation expense for fixed assets; and d. prepare adjusting journal entries. The firm will charge $7,500 for the preparation of 2019 federal and state corporate tax returns. Barbara Smith, a certified public accountant at Cherry Bekaert, disclosed in court filings that the firm is a "disinterested person" as defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Barbara L. Smith, CPA Cherry Bekaert, LLP 1111 Metropolitan Ave., Suite 900 Charlotte, NC 28204 Phone: 704-377-1678 Fax: 704-377-6063 About WD-I Associates WD-I Associates, LLC is a single asset real estate debtor (as defined in 11 U.S.C. Section 101(51B)). It is the fee simple owner of land and improvements known as Sea Turtle Marketplace, which has an appraised value of $20.5 million. The property is located at 430 William Hilton Parkway, Hilton Head Island, S.C. WD-I Associates sought protection for relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.S.C. Case No. 19-02517) on May 7, 2019. In the petition signed by Jon Wheeler, manager of WD-I Management, LLC, the Debtor disclosed $22,809,092 in assets and $33,582,202 in total liabilities. Judge John E. Waites oversees the case. Kevin Campbell, Esq. at Campbell Law Firm, P.A., is the Debtor's legal counsel. WEST ALLEY BBQ: Case Summary & 20 Largest Unsecured Creditors ------------------------------------------------------------- Debtor: West Alley BBQ LLC 1110 Vann Drive Jackson, TN 38305 Business Description: West Alley BBQ LLC owns and operates a barbecue restaurant in Jackson, Tennessee. Chapter 11 Petition Date: March 16, 2020 Court: United States Bankruptcy Court Western District of Tennessee Case No.: 20-10577 Judge: Hon. Jimmy L. Croom Debtor's Counsel: Thomas H. Strawn, Esq. STRAWN LAW FIRM 400 Masonic St. Dyersburg, TN 38024 Tel: 731-285-3375 E-mail: thstrawn42@bellsouth.net; billedwards62@bellsouth.net Estimated Assets: $0 to $50,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Bardo Brantley, CEO. 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/Fa0Pud WEST GARDEN CLUB: Gets Approval to Hire Zousmer Law as Counsel -------------------------------------------------------------- West Garden Club, LLC received approval from the U.S. Bankruptcy Court for the Eastern District of Michigan to hire Zousmer Law Group, PLC as its legal counsel. Zousmer Law Group will provide these services in connection with the Debtor's Chapter 11 case: a. advise the Debtor of its powers and duties; b. attend meetings and negotiate with representatives of creditors and other parties in interest; c. take all necessary actions to protect and preserve the Debtor's estate, including the prosecution of actions on the Debtor's behalf, the defense of any action commenced against the Debtor, negotiations concerning all litigation in which the Debtor is involved, and objections to claims filed against the estate; d. prepare legal papers; e. negotiate and prepare a plan of reorganization, disclosure statement, and all related agreements and documents, and take any necessary action to obtain confirmation of such plan; f. represent the Debtor in connection with obtaining post-petition loans, if necessary; g. advise the Debtor in connection with any potential sale of its assets; and h. appear before the court and the United States Trustee. Michael Zousmer, Esq., the firm's attorney who will be handling the case, will charge an hourly fee of $395. Prior to the Debtor's bankruptcy filing, Zousmer Law Group was paid $2,500 for pre-bankruptcy services and $17,500 as initial retainer. The firm will be paid an additional retainer of $22,500. Mr. Zousmer disclosed in court filings that the firm is "disinterested" within the meaning of Section 101(14) of the Bankruptcy Code. Zousmer Law Group can be reached through: Michael Zousmer, Esq. Zousmer Law Group, PLC 4190 Telegraph Rd, Suite 300 Bloomfield Hills, MI 48302 Tel: 248-351-0099 Fax: 248-351-0487 Email: Michael@zlawplc.com About West Garden Club West Garden Club, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Mich. Case No. 20-41080) on Jan. 26, 2020. At the time of the filing, the Debtor disclosed assets of between $1 million and $10 million and liabilities of the same range. Judge Mark A. Randon oversees the case. Zousmer Law Group, PLC is the Debtor's legal counsel. WINSTEAD'S COMPANY: Seeks to Hire Evans & Mullinix as Counsel ------------------------------------------------------------- Winstead's Company seeks authority from the U.S. Bankruptcy Court for the District of Kansas to hire Evans & Mullinix, P.A. as its legal counsel. Evans & Mullinix will represent the Debtor in its Chapter 11 case and will be paid at these hourly rates for its services: Colin N. Gotham $275 Thomas M. Mullinix $350 Joanne B. Stutz $275 Paralegals $100 The Debtor will pay the firm a retainer in the amount of $10,000, plus $1,717 for the filing fee. The firm will also be reimbursed for work-related expenses incurred. Colin Gotham, Esq., a partner at Evans & Mullinix, assured the court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. Evans & Mullinix can be reached at: Colin N. Gotham, Esq. Evans & Mullinix, P.A. 7225 Renner Road, Suite 200 Shawnee, KS 66217 Tel: (913) 962-8700 Fax: (913) 962-8701 Email: cgotham@emlawkc.com Abut Winstead's Company Winstead's Company operates 3 Winstead's Restaurant located at (i) 101 Emanuel Cleaver II Blvd., Kansas City, Mo.; (ii) 10711 Roe, Overland Park, Kansas; and (iii) 4971 W. 135th St., Leawood, Kansas. Winstead's Company filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Kan. Case No. 20-20288) on Feb. 24, 2020, listing under $1 million in both assets and liabilities. Judge Robert D. Berger oversees the case. Colin Gotham, Esq., at Evans & Mullinix, P.A., is the Debtor's legal counsel. WYNN RESORTS: Moody's Reviews Ba3 CFR for Downgrade on COVID-19 --------------------------------------------------------------- Moody's Investors Service placed the ratings of Wynn Resorts Finance, LLC on review for downgrade, including the company's Ba3 Corporate Family Rating, Ba3-PD Probability of Default Rating, Ba1 rated senior secured revolver and term loan, and B1 rated senior unsecured notes. At the same time, Moody's placed the B1 rated senior unsecured notes of Wynn Macau, Limited and B1 rated senior unsecured notes of Wynn Las Vegas, LLC under review for downgrade. The company's SGL-1 speculative-grade liquidity rating is not affected. "The review for downgrade is prompted by steep declines in visitation and gaming revenue at Wynn's Macau properties as a result of the spread of the coronavirus that has restricted travel in the region, as well as expected reduced travel, consumer and business activity in the US," stated Adam McLaren, Moody's gaming analyst. Moody's expects efforts to contain the coronavirus to reduce casino visitation in the US for an unknown period, particularly the Las Vegas strip because business travel, conferences, and independent leisure travel will decline. The coronavirus is already having a negative effect on Wynn's Macau casinos because containment efforts reduced visitation including closing for 15 days in the month of February. While Wynn's Macau casinos have since reopened, the ramp up of visitation and gaming revenue will take time as travel restrictions remain in the region. Wynn's exposure to Macau is high, representing approximately 70% of total revenue. On Review for Downgrade: Issuer: Wynn Las Vegas, LLC Senior Unsecured Regular Bond/Debenture, Placed on Review for Downgrade, currently B1 (LGD5) Issuer: Wynn Macau, Limited Senior Unsecured Regular Bond/Debenture, Placed on Review for Downgrade, currently B1 (LGD5) Issuer: Wynn Resorts Finance, LLC Probability of Default Rating, Placed on Review for Downgrade, currently Ba3-PD Corporate Family Rating, Placed on Review for Downgrade, currently Ba3 Senior Secured Bank Credit Facility, Placed on Review for Downgrade, currently Ba1 (LGD2) Senior Unsecured Regular Bond/Debenture, Placed on Review for Downgrade, currently B1 (LGD5) Outlook Actions: Issuer: Wynn Las Vegas, LLC Outlook, Changed To Rating Under Review From Positive Issuer: Wynn Macau, Limited Outlook, Changed To Rating Under Review From Positive Issuer: Wynn Resorts Finance, LLC Outlook, Changed To Rating Under Review From Positive RATINGS RATIONALE The rapid and widening spread of the coronavirus outbreak, deteriorating global economic outlook, falling oil prices, and asset price declines are creating a severe and extensive credit shock across many sectors, regions and markets. The combined credit effects of these developments are unprecedented. The gaming sector has been one of the sectors most significantly affected by the shock given its sensitivity to consumer demand and sentiment. More specifically, the weaknesses in Wynn's credit profile, including its exposure to Macau and Las Vegas have left it vulnerable to shifts in market sentiment in these unprecedented operating conditions and Wynn remains vulnerable to the outbreak continuing to spread. Moody's regards the coronavirus outbreak as a social risk under its ESG framework, given the substantial implications for public health and safety. The action reflects the impact on Wynn of the breadth and severity of the shock, and the broad deterioration in credit quality it has triggered. Wynn's Ba3 Corporate Family Rating is supported by the quality, popularity, and favorable reputation of the company's resort properties -- a factor that continues to distinguish it from most other gaming operators -- along with the company's well-established and very successful track record of building large, high quality destination resorts. Wynn's very good liquidity profile and relatively low cost of debt capital also support the ratings. The Ba3 Corporate Family Rating also incorporates Moody's expectation that Wynn will successfully renew its Macau concession agreement prior to its 2022 expiration on terms that will not, in and of itself, impair Wynn's credit quality. Key credit concerns include Wynn's limited diversification despite being one of the largest U.S. gaming operators in terms of revenue. Wynn's revenue and cash flow will remain heavily concentrated in the Macau gaming market, Moody's also expects that Wynn will be presented with and pursue other large, high profile, integrated resort development opportunities around the world. As a result, there will likely be periods where the company's leverage experiences periods of increases due to partially debt-financed, future development projects. The review will focus on Wynn's ability to preserve its liquidity during this period of significant earnings decline, the ramp of visitation and gaming revenue in Macau, and the impact on future travel and visitation from the spread of the coronavirus globally, including in the United States. Wynn currently has very good liquidity sources from significant cash and unused revolver capacity, but Moody's will assess the potential length and severity of the drop in visitation and revenue, and the effect on the company's credit metrics and liquidity. Moody's will also evaluate Wynn's ability to reduce expenses and take other actions to preserve cash. Wynn Resorts Finance, LLC is an indirect wholly-owned subsidiary of Wynn Resorts, Limited, and holds all of Wynn Resorts, Limited's ownership interests in Wynn Las Vegas, LLC, which owns and operates the Wynn Las Vegas integrated resort in Las Vegas, Nevada (excluding certain leased retail space that is owned by Wynn Resorts directly), in Wynn Asia, and in Wynn MA, LLC, which owns and operates Encore Boston Harbor. The principal methodology used in these ratings was Gaming Industry published in December 2017. WYOMING INVESTMENT: Hires Markus Williams as Counsel ---------------------------------------------------- Wyoming Investment Partners, LLC, seeks authority from the U.S. Bankruptcy Court for the District of Wyoming to employ Markus Williams Young & Hunsicker LLC, as counsel to the Debtor. Wyoming Investment requires Markus Williams to: a. assist in the production of the Debtor's schedules and statement of financial affairs and other pleadings necessary to file its chapter 11 case; b. assist in the preparation of the Debtor's disclosure statement and plan of reorganization, and seeking approval and confirmation of the same; c. prepare on behalf of the Debtor all necessary applications, complaints, answers, motions, orders, reports, and other legal papers; d. represent the Debtor in adversary proceedings and contested matters related to the Debtor's bankruptcy case; e. provide legal advice with respect to the Debtor's rights, powers, obligations and duties as chapter 11 debtor-in- possession in the continuing operation of the Debtor's business and the administration of the estate; and f. provide other legal services for the Debtor as necessary and appropriate for the administration of the Debtor's estate. Markus Williams will be paid at these hourly rates: Attorneys $335 to $350 Paralegals $125 Markus Williams received an initial retainer at the commencement of the employment in the amount of $10,000 from the Debtor and received an additional $50,000 and filing fee of $1,717 on February 28, 2020. A portion of the retainer, $17,122 was applied to the amount owed by the Debtor for general representation and pre-petition services and expenses. Markus Williams is holding the balance of the retainer, in the amount of $44,595. Markus Williams will also be reimbursed for reasonable out-of-pocket expenses incurred. Bradley T. Hunsicker, partner of Markus Williams Young & Hunsicker 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. Markus Williams can be reached at: Bradley T. Hunsicker, Esq. MARKUS WILLIAMS YOUNG AND HUNSICKER LLC 106 East Lincolnway, Suite 300 Cheyenne, WY 82001 Telephone: 307-778-8178 Facsimile: 307-638-1975 E-mail: bhunsicker@markuswilliams.com About Wyoming Investment Partners Wyoming Investment Partners, LLC dba Wyoming Athletic Club (http://itsmywac.com),offers comprehensive fitness training, sport performance programs, and kids fitness options. Wyoming Investment Partners, LLC, based in Casper, WY, filed a Chapter 11 petition (Bankr. D. Wyo. Case No. 20-20085) on March 4, 2020. Bradley T. Hunsicker, Esq., at Markus Williams Young & Hunsicker LLC, serves as bankruptcy counsel. In its petition, the Debtor estimated $1 million to $10 million in both assets and liabilities. The petition was signed by Louis Quint Jr., Esq., member of Health Club Management, LLC. ZPOWER LLC: Case Summary & 20 Largest Unsecured Creditors --------------------------------------------------------- Two affiliates that concurrently filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code: Debtor Case No. ------ -------- ZPower, LLC 20-41158 4765 Calle Quetzal Camarillo, CA 93012 ZPower Texas, LLC 20-41157 4765 Calle Quetzal Camarillo, CA 93012 Business Description: ZPower -- https://www.zpowerbattery.com -- is a manufacturer of silver-zinc rechargeable microbatteries. The Company serves the consumer electronics, medical, and military and defense industries. Chapter 11 Petition Date: March 17, 2020 Court: United States Bankruptcy Court Northern District of Texas Judge: Hon. Mark X. Mullin Debtors' Counsel: Davor Rukavina, Esq. MUNSCH HARDT KOPF & HARR, P.C 500 N. Akard Street, Suite 3800 Dallas, TX 75201-6659 Tel: 214-855-7500 E-mail: drukavina@munsch.com ZPower, LLC's Estimated Assets: $10 million to $50 million ZPower, LLC's Estimated Liabilities: $50 million to $100 million ZPower Texas' Estimated Assets: $100,000 to $500,000 ZPower Texas' Estimated Liabilities: $50,000 to $100,000 The petitions were signed by Glynne Townsend, chief restructuring officer. Full-text copies of the petitions are available for free at PacerMonitor.com at: https://is.gd/JN8mA1 https://is.gd/X5ZCzn List of ZPower, LLC's 20 Largest Unsecured Creditors: Entity Nature of Claim Claim Amount ------ --------------- ------------ 1. MidCap Financial Trust $21,445,613 2. Howard H Schultz $11,069,377 9241 LBJ Freeway -Suite 100 Dallas, TX 75204 3. Slate River $8,000,043 2615 State Street Dallas, TX 75204 4. MTT Capital, LP $7,119,498 4949 Westgrove Drive Suite 100 Dallas, TX 75248 5. Nate Levine $3,923,985 13355 Noel Road #2100 One Galleria Towe Dallas, TX 75240-6612 6. Andrew Schultz $2,374,027 Irrevocable Trust 9241 LBJ Freeway Suite 100 Dallas, TX 75243 7. LVS Charitable Lead $1,849,012 Annuity Trust 9241 LBJ Freeway Suite 100 Dallas, TX 75243 8. Mike Tonti $1,626,564 4949 Westgrove Drive Suite 100 Dallas, TX 75248 9. Stark Real Estate, LLC $1,527,953 12042 Royce Waterford Circle Tampa, FL 33626 10. Ancona Partners $1,172,475 6053 River Oaks Cove Memphis, TN 38120 11. HHS GST, $1,018,757 Jaynie Schultz TTEE 9241 LBJ Freeway Suite 100 Dallas, TX 75243 12. HIC Partners, Ltd. $995,133 George Howard PMB 570 25 Highland Park Village #100 Dallas, TX 75205 13. Susan Swinson $890,250 5306 Preston Haven Dallas, TX 75229 14. HHS GST $875,181 Daniel Schultz TTEE 9241 LBJ Freeway Suite 100 Dallas, TX 75243 15. Thomas J. Sweeney & $826,905 Elizabeth T. Winson 129 Springhouse Lane Pittsburgh, PA 15238 16. Schultz 2011 $755,862 Grandchildren's Trust 9241 LBJ Freeway Suite 100 Dallas, TX 75243 17. Fred Montesi III $728,313 6053 River Oaks Cove Memphis, TN 38120 18. John Mark Keith $611,682 277 Belfair Oaks Boulevard Bluffton, SC 29910 19. Steve & Juliet Shane $596,497 P.O.Box 2130 South Portland, ME 04116 20. Estate of Leslie Vile Schultz $586,717 9241 LBJ Freeway Suite 100 Dallas, TX 75243 ********* 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 ***