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         T R O U B L E D   C O M P A N Y   R E P O R T E R

              Tuesday, June 16, 2020, Vol. 24, No. 167

                            Headlines

ACADIA HEALTHCARE: S&P Affirms 'B' ICR; Rating Off Watch Negative
ACTT RIVER: Proposes Hybrid Reorganization/Liquidating Plan
ADAIR MECHANICAL: McCarthy Says Plan Only Provides 6% Recovery
ADVAXIS INC: Incurs $6.32 Million Net Loss in Second Quarter
ALCAMI CORP: S&P Downgrades ICR to 'CCC' on Tightening Liquidity

BANTEC INC: Enters Agreement to Offer Covid 19 Cleaning Products
BULLARD FENCE: Unsecureds to Get $2,400 Per Quarter Over 5 Years
CENTURY ALUMINUM: All 3 Proposals Approved at Annual Meeting
DELMAR PHARMACEUTICALS: Incurs $2-Mil. Net Loss in Third Quarter
FERRELLGAS PARTNERS: Signs Forbearance Agreement with Noteholders

FUELCELL ENERGY: Incurs $14.8 Million Net Loss in First Quarter
GARDEN FRESH: To Liquidate All Assets, Auction to End on June 30
GOGO INC: Inks 6th Amendment to Services Agreement with Delta Air
GVM INC: Exits Chapter 11 Bankruptcy with Help of Liquid Finance
IQVIA INC: S&P Rates New $800MM Senior Unsecured Notes 'BB'

LUCKY BUMS: July 30 Amended Disclosure Statement Hearing Set
NFINITY GROUP: Gets Court Approval to Hire DPR Realty
NPC INTERNATIONAL: S&P Rates Super-Priority Term Loan 'CCC+'
NPHSS LLC: Unsecureds 'Likely to Recover 100%' in Sale Plan
PG&E CORP: Announces Selection of New Board Upon Ch.11 Emergence

PIERCE CONTRACTORS: Has Until Aug. 12 to File Plan & Disclosures
PUBLIC BIKES: Reorganization Plan Confirmed by Judge
REGIONAL HEALTH: Reports $2.26 Million Net Loss for First Quarter
SANDY CREEK: S&P Lowers Rating to 'CCC-' on Heightened Default Risk
SARACEN DEVELOPMENT: S&P Affirms 'CCC' ICR; Outlook Negative

SFKR LLC: Tax Authorities Object to Amended Disclosure Statement
SFKR LLC: UBANK Objects to Amended Disclosure Statement
SKILLSOFT CORP: Files Chapter 11 to Facilitate Restructuring
SLANDY INC: Gets Approval to Hire LDL Firm as Special Counsel
SLIDEBELTS INC: Credit Union Objects to Disclosure Statement

SPEEDWAY MOTORSPORTS: S&P Lowers ICR to 'BB-' on COVID-19 Impact
STAGE STORES: Unsecured Creditors to Have Less Than 1% Recovery
SUNEX INTERNATIONAL: July 9 Disclosure Statement Hearing Set
TAILORED BRANDS: Q1 Net Sales Down 60.4% Due to COVID-19 Pandemic
THREE DIAMOND: Trustee Hires Adam L. Rosen as Legal Counsel

TRUEMETRICS: Seeks to Hire Jaurigue Law as Bankruptcy Counsel
WILLOUGHBY ESTATES: Court Approves Disclosure Statement
ZACHAIR LTD: Seeks to Hire Fraser Forbes as Real Estate Agent

                            *********

ACADIA HEALTHCARE: S&P Affirms 'B' ICR; Rating Off Watch Negative
-----------------------------------------------------------------
S&P Global Ratings affirmed the 'B' issuer credit rating on Acadia
Healthcare Co. Inc. and removed it from CreditWatch, where S&P
placed it March 25, 2020, with negative implications. The outlook
is stable.

At the same time, S&P is assigning a 'B-' rating to the new senior
unsecured notes. Its recovery rating is '5', indicating a modest
prospect (10%-30%; rounded estimate: 15%) for recovery.

S&P is also affirming its 'B-' issue-level rating and '5' recovery
rating on Acadia's unsecured debt, and its 'B+' issue-level rating
and '2' recovery rating on the company's secured debt.

"The outlook revision reflects our belief that Acadia will remain
highly leveraged at above 5x for an extended period.   Although
Acadia temporarily suspended the sale of its U.K. business until
market conditions improve, we continue to expect it to pursue the
sale and use proceeds to reduce debt. Nevertheless, Acadia's debt
maturity profile continues to be front-ended and compressed such
that we expect the company to refinance its 2021 and 2022 debt in
the near term," S&P said.

S&P does not expect significantly reduced volume for Acadia's
services over the next year.  Although mental health and substance
use treatment are considered essential and not subject to deferral,
volume contracted in March and April. Volume was lower from
traditional referral sources such as emergency rooms and medical
professionals, state-issued stay-at-home orders, and travel
restrictions. Although this improved in May as restrictions were
slowly lifted, the U.K. improvement is lagging behind that of the
U.S. due to a more cautious and slower reopening plan, and
disruptions in the U.K. National Health Service shifting focus back
to mental health.

S&P expects leverage to remain above 5x, though it expects Acadia
to prioritize permanent debt repayment if it succeeds in selling
its U.K. business.   While labor costs stabilized in the U.K.,
profitability in this business remain constrained. The business
represents about 35% of Acadia's revenues, but only about 25% of
EBITDA. Additionally, S&P expects the company to support its
already above-industry-average growth rate with significant capital
spending for additional beds and facility additions. S&P continues
to expect Acadia to prioritize growth, supporting the rating
agency's expectation the company will invest the majority of
internally generated cash flows into growth projects (600-700 new
beds per year, likely 200-300 in 2020, to the current base of
18,200 across new and existing facilities) and tuck-in
acquisitions.

S&P's current base case does not incorporate the sale of the U.K.
business.   It expects organic revenue growth of around 3.5% in
2020, driven by bed additions at existing facilities, de novo
facilities, and maturing of previously added beds, offset by
COVID-19 impact. S&P expects the pace of growth, notwithstanding
near-term disruption from the pandemic, to significantly exceed the
rating agency's expectation of low-single-digit percentage organic
growth for health care providers. S&P expects Acadia to generate
annual free operating cash flow of over $100 million, which will
primarily be used to fund de novo bed expansion at new and existing
facilities. This results in debt to EBITDA of about 5.5x in 2020
and 5.2x in 2021.

"The stable outlook reflects our view that Acadia will extend its
maturity profile as debt comes due, but that deleveraging
meaningfully below 5x will require the successful sale of the U.K.
business, which we view as uncertain over the next year," S&P
said.

While the pending refinancing extends Acadia's debt maturity
profile, it remains front-ended and compressed such that S&P
expects the company to refinance its 2021 and 2022 debt in the near
term. S&P could lower the rating if the company fails to address
its 2021 maturities by year-end. This would, in S&P's view,
indicate refinancing risk as those dates move closer.

"While Acadia temporarily suspended the sale of its U.K. business
until market conditions improve, if it uses such proceeds to pay
down its upcoming maturities, we expect leverage would fall below
our 5x upgrade trigger. Under this scenario, we would need to be
confident Acadia will maintain financial policies consistent with
sustaining leverage below 5x," S&P said.


ACTT RIVER: Proposes Hybrid Reorganization/Liquidating Plan
-----------------------------------------------------------
Debtor ACTT River Road LLC filed a Third Amended Disclosure
Statement dated May 19, 2020.

The Third Amended Plan is proposed by the Debtor in lieu of the
First Amended Plan filed on Dec. 10, 2019.  This envelope also
contains the Third Amended Disclosure Statement, approved by the
U.S. Bankruptcy Court for the Eastern District of Pennsylvania.

The Debtor submits, in the alternative, a hybrid reorganization/
liquidation Plan.  In other words:

   * Subject to Court approval, the Debtor seeks to market and sell
the real property located at 4935 River Road, Point Pleasant, Bucks
County, PA 18950, also identified as Plumstead Township Tax Parcel
Number 34-020-055-001, commercially zoned by under State Tax
Equalization Board Land Use Code 4228 – Hotel/Tavern, formerly
trading as AppleJack's (the Property).  In the event this Court
approves the Property's Sale on or before the Maturity Date, the
will be a "Liquidation Plan".

   * If the Property is not subject to a Contract for Purchase by
the Maturity Date, then, in the alternative and with the approval
of the Court, the Debtor will refinance the Property and satisfy
all claims. In such event, this will be a "Reorganization Plan".

A full-text copy of the Third Amended Plan of Reorganization dated
May 19, 2020, is available at https://tinyurl.com/yasqocuu from
PacerMonitor at no charge.

The Debtor is represented by:

       SILVERANG, ROSENZWEIG & HALTZMAN, LLC
       Mark S. Haltzman
       WOODLANDS CENTER
       900 East 8th Avenue, Suite 300
       King of Prussia, PA 19406
       Tel: (610) 263-0131
       Fax: (215) 754-4211

                    About ACTT River Road

ACTT River Road LLC classifies its business as single asset real
estate (as defined in 11 U.S.C. Section 101(51B)).

Based in Point Pleasant, Pa., ACTT River Road sought protection
Chapter 11 of the Bankruptcy Code (Bankr. E.D. Pa. Case
No.19-13789) on June 12, 2019.  At the time of the filing, the
Debtor was estimated to have $1 million to $10 million in both
assets and liabilities.  Mark S. Haltzman, Esq., at Silverang,
Rosenzweig & Haltzman, LLC, is the Debtor's counsel.


ADAIR MECHANICAL: McCarthy Says Plan Only Provides 6% Recovery
--------------------------------------------------------------
McCarthy Building Companies, Inc., objects to the Amended
Disclosure Statement of debtor Adair Mechanical Services, LLC,
dated March 25, 2020.

McCarthy argues that the Disclosure Statement should be rejected
because it fails to provide creditors with sufficient information
and accurate information regarding the distribution to Class 7
pursuant to the Plan.

McCarthy claims that given that McCarthy alone has a claim
$5,625,248, the Debtor is significantly understating its debts and
therefore significantly overstating the distribution to creditors.
Rather than a 50% distribution promised in the Disclosure
Statement, creditors would be entitled to less than a 6%
distribution (assuming McCarthy is the only unsecured creditor,
which it is not).

McCarthy asserts that the Disclosure Statement should be rejected
as containing insufficient information because the Disclosure
Statement does not account for $38,489 in profits during the first
year alone.  The Disclosure Statement does not tell creditors how
or to what those funds would be applied.

McCarthy further asserts that the Disclosure Statement, as filed,
contains inaccurate and insufficient information to allow creditors
to make informed decisions regarding the Plan and should therefore
be rejected.

McCarthy respectfully requests that the Court deny the approval of
the Disclosure Statement and grant such other and further relief as
the Court may deem just and proper.

A full-text copy of McCarthy's objection to Amended Disclosure
Statement dated May 19, 2020, is available at
https://tinyurl.com/y77fgajm from PacerMonitor at no charge.  

Attorneys for McCarthy Building:

        Doug Skierski
        Kristin H. Jain
        SKIERSKI JAIN PLLC
        400 N. St. Paul, Suite 510
        Dallas, TX 75201
        Telephone: (214) 446-0332
        Facsimile: (214) 446-0322
        E-mail: DSkierski@SkiJain.com
                KHJain@SkiJain.com

                About Adair Mechanical Services

Adair Mechanical Services, Inc., is a commercial and industrial
HVAC, refrigeration, and plumbing contractor with 27 combined years
of experience working with a variety of brands and systems in the
DFW Metroplex.

Based in Argyle, Texas, Adair Mechanical Services filed a voluntary
petition for relief under Chapter 11 of the U.S. Bankruptcy Code
(Bankr. E.D. Tex. Case No. 19-41928) on July 19, 2019.  The Hon.
Brenda T. Rhoades is assigned the Debtor's case.  Eric A. Liepins,
Esq., at the law firm of Eric A. Liepins, P.C., is the Debtor's
counsel.


ADVAXIS INC: Incurs $6.32 Million Net Loss in Second Quarter
------------------------------------------------------------
Advaxis, Inc. reported a net loss of $6.32 million on $250,000 of
revenue for the three months ended April 30, 2020, compared to a
net loss of $9.38 million on $1.19 million of revenue for the three
months ended April 30, 2019.

For the six months ended April 30, 2020, the Company reported at
net loss of $14.18 million on $253,000 of revenue compared to net
income of $3.43 million on $20.88 million of revenue for the same
period during the prior year.

As of April 30, 2020, the Company had $45.21 million in total
assets, $9.77 million in total liabilities, and $35.43 million in
total stockholders' equity.

The Company has not yet commercialized any products and the
products that are being developed have not generated significant
revenue.  As a result, the Company has experienced recurring losses
and requires significant cash resources to execute its business
plans.  Historically, the Company's major sources of cash have been
comprised of proceeds from various public and private offerings of
its common stock, debt financings, clinical collaborations, option
and warrant exercises, NOL tax sales, income earned on investments
and grants and interest income.  From October 2013 through April
30, 2020, the Company raised approximately $303.8 million in gross
proceeds ($11.6 million in fiscal year 2020) from various public
and private offerings of its common stock.

In Note 2 of the notes to the Company's audited financial
statements as of and for the year ended Oct. 31, 2019, management
stated that the Company had incurred significant losses, negative
operating cash flows and as of those dates needed to raise
additional funds to meet its obligations and sustain its
operations.  As a result, the Company concluded that there was
substantial doubt as to the Company's ability to continue as a
going concern.  As of April 30, 2020, the Company had approximately
$28 million in cash and cash equivalents.  The Company
significantly reduced its operating expenses to $38.9 million for
the fiscal year ended Oct. 31, 2019 as compared to $76.4 million
during the fiscal year ended Oct. 31, 2018.  The Company believes
to have sufficient capital to fund its obligations, as they become
due, in the ordinary course of business until at least August
2021.

Given its cash balances including funds raised in fiscal 2020 of
$11.6 million (which yielded net proceeds of $10.6 million) and
based on its budgeted, reduced cash flow requirements for the next
twelve months from the date of filing (June 11, 2020), the Company
believes such funds are sufficient to support ongoing operations at
least one year after the issuance of these financial statements.

A full-text copy of the Quarterly Report is available for free at
the Securities and Exchange Commission's website at:

                         https://is.gd/wqz5IR

                          About Advaxis Inc.

Advaxis, Inc. -- http://www.advaxis.com-- is a clinical-stage
biotechnology company focused on the development and
commercialization of proprietary Lm-based antigen delivery
products.  These immunotherapies are based on a platform technology
that utilizes live attenuated Listeria monocytogenes (Lm)
bioengineered to secrete antigen/adjuvant fusion proteins. These
Lm-based strains are believed to be a significant advancement in
immunotherapy as they integrate multiple functions into a single
immunotherapy and are designed to access and direct antigen
presenting cells to stimulate anti-tumor T cell immunity, activate
the immune system with the equivalent of multiple adjuvants, and
simultaneously reduce tumor protection in the tumor
microenvironment to enable T cells to eliminate tumors.

Advaxis reported a net loss of $16.61 million for the year ended
Oct. 31, 2019, compared to a net loss of $66.51 million for the
year ended Oct. 31, 2018.  As of Jan. 31, 2020, the Company had
$51.35 million in total assets, $9.80 million in total liabilities,
and $41.55 million in total stockholders' equity.

Marcum LLP, in New York, NY, the Company's auditor since 2012,
issued a "going concern" qualification in its report dated Dec. 20,
2019, citing that the Company has incurred significant losses and
needs to raise additional funds to meet its obligations and sustain
its operations.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern.


ALCAMI CORP: S&P Downgrades ICR to 'CCC' on Tightening Liquidity
----------------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on Alcami Corp.
to 'CCC' from 'CCC+'. S&P also lowered its issue-level rating on
the company's first-lien term loan and revolver to 'CCC' from
'CCC+'. The second-lien term loan is unrated. The '3' recovery
rating on the senior secured debt is unchanged.

The downgrade reflects Alcami Corp.'s continued underperformance,
and tightening liquidity which increases the likelihood for a
covenant violation and possible debt restructuring.

Revenues declined about 14% in 2019, given delays in customers'
projects stemming from an unplanned outage of the Regenerative
Thermal Oxidizer (RTO) which rendered an API manufacturing facility
non-operational for two months. The impact on profitability is
exacerbated by the high fixed cost nature of the business. Despite
limited customer concentration, (no customer represents more than
16% of revenues), the company has struggled through reduced volumes
from several customers.

Although the first quarter of 2020 was modestly stronger than the
prior year period notwithstanding asset sales and consolidation of
certain facilities and S&P expects 2020 to show growth relative to
2019, the rating agency expects cash flow deficits to rise
substantially in 2020 given a substantial increase in spending on
capex in 2020, relating to start-up costs associated with the
recently acquired TriPharm plant. While the company has entered
into a new asset-based lending facility in the first quarter,
anticipates a sale-leaseback in the third quarter, and may get an
equity injection to help fund this investment, S&P views the
capital structure as unsustainable thus it's unclear whether any
capital injection may involve a distressed exchange for lenders.

"While Alcami does not face any maturities until the revolver and
asset-based lending (ABL) facility mature in 2023, we expect the
company to burn through its remaining cash within one year. In
addition the cushion under its net first-lien leverage springing
covenant is increasingly tight, and we see only limited opportunity
for it to improve its fixed-charge coverage ratios absent a
successful refinancing," S&P said.

"We expect adjusted debt leverage of about 15x-17x for 2020 and
2021 compared to our prior expectation of leverage improving to
about 10x-11x for 2020 and 2021," S&P said.

S&P's updated forecast also considers the impacts of a new
management team, with extensive experience in CDMOs, that was
brought in with the TriPharm investment."

The negative outlook reflects a heightened risk of a distressed
exchange or default due to weaker-than-expected 2019 financial
results and higher-than-expected leverage, making it less likely
the company can meet its debt obligations within the next 12 months
without an unforeseen positive development.

"We could lower our rating on Alcami if we believe the company is
at risk of a distressed exchange or a restructuring within the next
six months. This could occur if the company's operating performance
or liquidity deteriorates further, reducing its ability to meet its
debt obligations and comply with its springing financial covenant,"
S&P said.

"We could revise the outlook to stable if the company generates
significant improvements in liquidity, potentially through an
equity infusion, strengthening the company's capital structure and
leading us to believe the company can meet its debt obligations for
at least the following year," the rating agency said.


BANTEC INC: Enters Agreement to Offer Covid 19 Cleaning Products
----------------------------------------------------------------
Bantec, Inc. signed an agreement with CleanSmart to offer sanitizer
cleaning stations and viral disinfecting kits utilizing the
proprietary Eniro-pro cleaning product which is EPA compliant to
combat Covid-19, to banks, cafeterias, universities, hospitals,
manufacturers, restaurants and many other institutions via direct
sales and its new online store.

Michael Bannon, Bantec's chairman and CEO stated that, "we are
excited to help fellow Americans during this pandemic.  We want to
help corporations safely get their employees back to work and keep
them Covid free now and in the event of a second wave of the
outbreak.  Kept in visible locations, our sanitizer cleaning
stations house the necessary cleaning products needed to keep all
environments Covid-free.  For example, after a bank customer opens
a checking account and leaves, the bank employee can immediately
grab sanitizing materials from our station and quickly clean his or
her cubical and have it ready for the next customer.  In addition
to direct sale approach, we intend to offer our sanitizing stations
and viral cleaning kits on our online store which is currently
under construction.  Initially, from our online store, we will
offer only our Covid cleaning products.  As time goes on and this
pandemic moves behind us, we will offer a wide variety of products
targeting facility managers in commercial, manufacturing and
government sectors. When our Bantec Online store is operational, we
intend to offer free delivery as well."

                          About Bantec

Bantec, Inc. is a distributor, construction, environmental and
drone company.  Through Howco Distributing Co, Bantek provides
product procurement, distribution, and logistics services g Co., to
the United States Department of Defense and Defense Logistics
Agency.  The Company has operations based in Little Falls, New
Jersey and Vancouver, Washington.  The Company continues to seek
strategic acquisitions and partnerships with distributor,
construction, environmental and drone firms that offer growth
opportunities in well established markets, as well as acquisitions
and partnerships with firms that have complementary technologies,
services, products and infrastructure.

As of Dec. 31, 2019, the Company had $1.01 million in total assets,
$16.45 million in total liabilities, and a total stockholders'
deficit of $15.44 million.

Salberg & Company, P.A., in Boca Raton, Florida, the Company's
auditor since 2017, issued a "going concern" qualification in its
report dated Feb. 6, 2020 citing that the Company has a net loss
and cash used in operations of $7,115,159 and $1,105,330,
respectively, for the year ended Sept. 30, 2019 and has a working
capital deficit, stockholders' deficit and accumulated deficit of
$13,632,338, $14,895,354 and $26,746,451 respectively, at Sept. 30,
2019.  The Company is also in default on certain promissory notes.
These matters raise substantial doubt about the Company's ability
to continue as a going concern.


BULLARD FENCE: Unsecureds to Get $2,400 Per Quarter Over 5 Years
----------------------------------------------------------------
Debtor Bullard Fence, Inc., filed a Combined Disclosure Statement
and Plan of Reorganization to resolve outstanding claims against
the Debtor.

In full satisfaction of Class 3 General Unsecured Claims, the
Debtor will pay $2,400 per quarter on a pro rata basis for 60
months to allowed General Unsecured Creditors which shall include
Proof of Claim 7 filed by Complete Business Solutions.  Class 3 is
impaired and therefore is entitled to vote on this Plan.

Assuming at least 50% collectability, General Unsecured Creditors
would receive around nothing in a Chapter 7 situation.  Through the
Plan, General Unsecured Creditors will receive substantially more
than through a Chapter 7.

Class 4 Equity Holders/Insiders will receive no distribution under
the Plan but will retain the same ownership as they did prior to
the Petition Date.

Given the refined debt service as provided in the Plan, the Debtor
will continue its operations which will cover the required new debt
service payments.

Pursuant to Section 1141 of the Bankruptcy Code, the property of
the Estate of the Debtor shall vest in the Debtor.

A full-text copy of the Combined Disclosure Statement and Plan of
Reorganization dated May 19, 2020, is available at
https://tinyurl.com/yb9unjdn from PacerMonitor at no charge.

Counsel for the Debtor:

         The Law Offices of Jason A. Burgess, LLC
         Jason A. Burgess
         1855 Mayport Road
         Atlantic Beach, Florida 32233
         Phone: (904) 372-4791

                       About Bullard Fence

Bullard Fence, Inc., sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. M.D. Fla. Case No. 20-00723) on Feb. 28,
2020,  estimating under $1 million in both assets and liabilities.
Judge Cynthia C. Jackson oversees the case.  Jason A. Burgess,
Esq., at The Law Offices of Jason A. Burgess LLC, represents the
Debtor.


CENTURY ALUMINUM: All 3 Proposals Approved at Annual Meeting
------------------------------------------------------------
Century Aluminum Company held its Annual Meeting on June 8, 2020,
at which the stockholders:
   
   (1) elected Jarl Berntzen, Michael Bless, Cynthia Carroll,
       Errol Glasser, Wilhelm van Jaarsveld, and Andrew
       Michelmore to serve on the Company's Board of Directors
       for a one year term expiring at the annual meeting in
       2021;

   (2) ratified the appointment of Deloitte & Touche LLP as the
       Company's independent registered public accounting firm
       for the fiscal year ending Dec. 31, 2020; and

   (3) approved, on a non-binding advisory basis, the
       compensation of the Company's named executive officers.

                   About Century Aluminum Company

Century Aluminum Company -- http://www.centuryaluminum.com-- is a
global producer of primary aluminum and operates aluminum reduction
facilities, or "smelters," in the United States and Iceland.  

The Company reported a net loss of $80.8 million for the year ended
Dec. 31, 2019, compared to a net loss of $66.2 million for the year
ended Dec. 31, 2018.  As of March 31, 2020, the Company had $1.59
billion in total assets, $284.9 million in total current
liabilities, $632.4 million in total noncurrent liabilities, and
$673.8 million in total shareholders' equity.

                          *    *    *

As reported by the TCR on April 17, 2020, Moody's Investors Service
downgraded the Corporate Family Rating of Century Aluminum Company
to Caa1 from B3.  "The ratings downgrade reflects Moody's
expectations of further deterioration in Century's credit profile
due to the impact of the coronavirus outbreak on the global
aluminum demand, prices and regional premiums, which have declined
materially since the beginning of 2020," said Botir Sharipov, vice
president and lead analyst for Century Aluminum.

Also in April 2020, S&P Global Ratings lowered its issuer credit
rating on Chicago-based aluminum producer Century Aluminum Co. to
'CCC+' from 'B-' and its issue-level rating to 'B-'.  "We believe
the outbreak of COVID-19 is materially hindering capital market
accessibility and the risk of weak aluminum prices persisting might
make it more challenging for Century to refinance its debt. In the
next six to 12 months as the bond maturity gets closer and
Century's quarterly cash flow begins to reflect weaker aluminum
prices, we expect it could experience a potential liquidity
shortfall," S&P said.


DELMAR PHARMACEUTICALS: Incurs $2-Mil. Net Loss in Third Quarter
----------------------------------------------------------------
DelMar Pharmaceuticals, Inc., reported a net loss of $1.96 million
for the three months ended March 31, 2020, compared to a net loss
of $1.66 million for the three months ended March 31, 2019.

For the nine months ended March 31, 2020, the Company reported a
net loss of $5.30 million compared to a net loss of $5.46 million
for the three months ended March 31, 2019.

As of March 31, 2020, the Company had $5.10 million in total
assets, $1.38 million in total liabilities, and $3.72 million in
total stockholders' equity.

DelMar stated, "The ultimate impact of the COVID-19 pandemic on our
operations is unknown and will depend on future developments, which
are highly uncertain and cannot be predicted with confidence,
including the duration of the COVID-19 outbreak, new information
which may emerge concerning the duration and severity of the
COVID-19 pandemic, and any additional preventative and protective
actions that governments, or us, may determine are needed.

"To date, the COVID-19 pandemic has not caused significant
disruption to our clinical studies.  Each of our ongoing Phase 2
clinical studies is being conducted at a single site which has
reduced the risk of disruption.  Patient visits are currently
taking place on schedule for both the MD Anderson Cancer Center
("MDACC") study being conducted in Houston, Texas and the Sun
Yat-sen University Cancer Center ("SYSUCC") study being conducted
in China.  In addition, thus far, any disruptions to patient
treatments have been within allowances under each study protocol.
Access to the sites by our clinical monitors has been limited
during the COVID-19 pandemic but the recording of study data in
both studies and patient treatments at both study sites are being
conducted per protocol at this time.
"We have cash available to fund planned operations into the fourth
quarter of calendar 2020.  Consequently, management is pursuing
various financing alternatives to fund our operations so we can
continue as a going concern.  However, the COVID-19 pandemic has
created significant economic uncertainty and volatility in the
credit and capital markets.  Management plans to secure the
necessary financing through the issue of new equity and/or the
entering into of strategic partnership arrangements but the
ultimate impact of the COVID-19 pandemic on our ability to raise
additional capital is unknown and will depend on future
developments, which are highly uncertain and cannot be predicted
with confidence, including the duration of the COVID-19 outbreak
and new information which may emerge concerning the severity of the
COVID-19 pandemic.  We may not be able to raise sufficient
additional capital and may tailor our drug candidate development
program based on the amount of funding we are able to raise in the
future.  Nevertheless, there is no assurance that these initiatives
will be successful."

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

                      https://is.gd/PYNyrw

                          About DelMar

Headquartered in San Diego, California, DelMar Pharmaceuticals,
Inc. -- http://www.delmarpharma.com/-- is a clinical stage,
biopharmaceutical company focused on the development and
commercialization of new cancer therapies for cancer patients who
have limited or no treatment options.

DelMar reported a net and comprehensive loss of $8.05 million for
the year ended June 30, 2019, following a net and comprehensive
loss of $11.14 million for the year ended June 30, 2018.  For the
three months ended Sept. 30, 2019, the Company reported a loss of
$1,605,871 and negative cash flow from operations of $2,266,146.
As of Sept. 30, 2019, the Company had an accumulated deficit of
$62,188,351 and cash and cash equivalents on hand of $8,060,039.

On Sept. 26, 2019, the Nasdaq Staff notified the Company that it
did not comply with the minimum $1.00 per share bid price
requirement for continued listing, as set forth in Nasdaq Listing
Rule 5550(a)(2), and the Company has 180 calendar days, or until
March 24, 2020, to regain compliance.  The closing bid price of our
securities must be at least $1.00 per share for a minimum of ten
consecutive business days to regain compliance.  On March 25, 2020,
DelMar received written notice from the Listing Qualifications
Department of The Nasdaq Capital Market LLC confirming the
Company's eligibility for continued listing of its common stock on
Nasdaq pursuant to an extension through Sept. 21, 2020, subject to
the condition that the Company wil have demonstrated a closing bid
price of $1.00 per share, or more, for a minimum of ten consecutive
business days by Sept. 21, 2020.

On April 20, 2020, the Company received a notification letter from
Nasdaq stating that, in response to the current extraordinary
market conditions, Nasdaq had filed a rule change with the
Securities and Exchange Commission to suspend the compliance period
for the minimum closing bid price requirement from April 16, 2020
through June 30, 2020.  As a result, the Company has until Dec. 7,
2020 to regain compliance.


FERRELLGAS PARTNERS: Signs Forbearance Agreement with Noteholders
-----------------------------------------------------------------
Ferrellgas Partners, L.P. has entered into a forbearance agreement
with certain holders of its 8.625% Senior Notes due June 15, 2020
holding approximately 77% of the outstanding amount of such notes.
Pursuant to the agreement, the Forbearing Holders of the 2020 Notes
agreed to forbear from exercising any rights or remedies during the
forbearance period against FGP arising from FGP's failure to pay
amounts due and owing under the applicable indenture.  The
Forbearing Holders also agreed to direct U.S. Bank National
Association, as indenture trustee, not to take any remedial action
during the term of the forbearance agreement. During the
forbearance period, FGP and the Forbearing Holders agreed to work
cooperatively to negotiate a definitive restructuring agreement
with respect to the 2020 Notes.  The forbearance period extends
through July 31, 2020, subject to FGP's satisfaction of certain
milestones.  FGP is represented by Squire Patton Boggs (US) LLP and
the Forbearing Holders are represented by Davis Polk & Wardwell
LLP.

                       About Ferrellgas

Ferrellgas Partners, L.P., through its operating partnership,
Ferrellgas, L.P., and subsidiaries, serves propane customers in all
50 states, the District of Columbia, and Puerto Rico.

Ferrellgas reported net loss of $64.54 million for the year ended
July 31, 2019, a net loss of $256.82 million for the year ended
July 31, 2018, and a net loss of $54.50 million for the year ended
July 31, 2017.  As of April 30, 2020, the Company had $1.72 billion
in total assets, $602.81 million in total current liabilities,
$2.15 billion in long-term debt, $76.13 million in operating lease
liabilities, $52.17 million in other liabilities, and a total
partners' deficit of $1.15 billion.

                           *   *   *

As reported by the TCR on Oct. 22, 2019, S&P Global Ratings lowered
its issuer credit rating on Ferrellgas Partners L.P. to 'CCC-' from
'CCC'.  The downgrade was based on S&P's assessment that
Ferrellgas' capital structure is unsustainable given the upcoming
maturity of its $357 million notes due June 2020.

As reported by the TCR on March 18, 2020, Moody's Investors Service
downgraded Ferrellgas Partners L.P.'s Corporate Family Rating to
Caa3 from Caa2.  "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.


FUELCELL ENERGY: Incurs $14.8 Million Net Loss in First Quarter
---------------------------------------------------------------
FuelCell Energy, Inc. reported a net loss of $14.77 million on
$18.88 million of total revenues for the three months ended April
30, 2020, compared to a net loss of $19.53 million on $9.22 million
of total revenues for the three months ended April 30, 2019.

As of April 30, 2020, the Company had $394.64 million in total
assets, $285.47 million in total liabilities, $59.86 million in
redeemable series B preferred stock, and $49.32 million in total
stockholders' equity.

"First and foremost, our focus remains on the health and safety of
our employees as we navigate the unprecedented COVID-19 pandemic.
Despite this challenging environment, I'm pleased with our second
quarter performance, where we achieved significant progress in
executing our "Powerhouse" business strategy," said Jason Few,
president and CEO.  "We have made strides in advancing our
integrated business model, which includes developing and managing
generation assets.  We remain focused on accelerating revenue
growth, which more than doubled this quarter, fueled by increases
in Generation, Service and Advanced Technology.  At the same time,
we continued to manage costs and enhance gross margin."  Mr. Few
concluded, "Despite the challenges of the current global
environment resulting from the COVID-19 pandemic, we continued to
execute against our project pipeline and advanced our work with
ExxonMobil Research and Engineering Company in pursuit of
commercializing our proprietary carbon capture solution.  We still
have work to do but are on a clear strategic path to continue
making progress and achieving our goals."

COVID-19 Update

   * The Company continues to follow appropriate safety
     precautions, including continued work-from-home for those
     who can, and it currently anticipates the closure of its
     manufacturing facility in Torrington, CT to continue through
     at least June 22nd.

   * The Company remains in contact with global team members,
     suppliers and customers to ensure timely sharing of
     information to help minimize any interruption in the
     execution of its business plan, and to help with the
     efficient restart of its manufacturing facility when
     appropriate.

Powerhouse Business Strategy Update

In January 2020, the Company launched its Powerhouse business
strategy, which is focused on initiatives intended to Transform,
Strengthen and Grow its company over the next three years.  During
the second quarter of fiscal 2020, despite the Torrington,
Connecticut facility closure, the Company made significant progress
on certain projects, including the 7.4 megawatt fuel cell project
located on the U.S. Navy Submarine Base in Groton, Connecticut, and
the start of construction on a 1.4 megawatt biofuel project located
in San Bernardino, California.  The Company also continued the
development of its Advanced Technology platform applications,
including a higher level of activity compared to the first quarter
of fiscal 2020 under the carbon capture program with ExxonMobil
Research and Engineering Company, and made progress on its solid
oxide energy platform, as it works to commercialize electrolysis,
long-duration hydrogen-based energy storage and hydrogen power
generation.

A full-text copy of the Quarterly Report is available for free at
the Securities and Exchange Commission's website at:

                     https://is.gd/gBFHmX

                    About FuelCell Energy

Headquartered in Danbury, Connecticut, FuelCell Energy, Inc. --
http://www.fuelcellenergy.com/-- is a global developer of
environmentally responsible distributed baseload power solutions
through its proprietary fuel cell technology.  The Company develops
turn-key distributed power generation solutions and operate and
provide comprehensive services for the life of the power plant.
The Company provides solutions for various applications, including
utility-scale distributed generation, on-site power generation and
combined heat and power, with the differentiating ability to do so
utilizing multiple sources of fuel including natural gas, Renewable
Biogas (i.e., landfill gas, anaerobic digester gas), propane and
various blends of such fuels.  

Fuelcell reported a net loss attributable to common stockholders of
$100.25 million for the year ended Oct. 31, 2019, a net loss
attributable to common stockholders of $62.17 million for the year
ended Oct. 31, 2018, and a net loss attributable to common
stockholders of $57.10 million for the year ended Oct. 31, 2017.
As of Jan. 31, 2020, FuelCell had $391.4 million in total assets,
$267.0 million in total liabilities, $59.85 million in redeemable
series B preferred stock, and $64.58 million in total stockholders'
equity.


GARDEN FRESH: To Liquidate All Assets, Auction to End on June 30
----------------------------------------------------------------
Garden Fresh Restaurants, LLC (Souplantation/Sweet Tomatoes) is
liquidating all assets under their Chapter 7 Bankruptcy filing. The
chain, which employed thousands, was a popular place to dine with
self-service food bars, was not able to survive the impact of the
COVID-19 pandemic and permanently closed all 97 restaurants and 3
distribution centers in early May. It is, to-date, the largest
restaurant bankruptcy and liquidation as a result of the pandemic.

The equipment and contents are being auctioned online from until
June 30, 2020 in locations nationally at
www.RestaurantEquipment.Bid.

The Garden Fresh bankruptcy and resulting liquidation is an
important story about the challenges facing the restaurant industry
as a result of the pandemic. According to the National Restaurant
Association, the industry lost over $225 Billion in revenue putting
over 8 million people out of work and resulting in the temporary or
permanent closing of over 150,000 locations.

Neal Sherman, President of TAGeX Brands (which operates
RestaurantEquipment.Bid), an expert in restaurant closures,
equipment and liquidation says, "Garden Fresh's bankruptcy is an
early sign of the challenges to come for the restaurant industry in
the wake of COVID-19. Our aim with online auctions is to ensure
that quality items don't end up in a landfill – but instead
allows for sustainable repurposing that not only makes economic
sense but will provide a positive outcome for surviving restaurant
operators who can benefit from this liquidation."

Leslie Gladstone, Trustee of the Bankruptcy who also serves as an
officer of the National Association of Bankruptcy Trustees, says of
the liquidation, "It is our first and foremost mission with this
liquidation to get some return for the creditors of this chain. We
also intend to provide a sustainable re-use of the equipment that
will make a difference for other restaurants who have been
incredibly challenged as a result of the pandemic."

                 About RestaurantEquipment.Bid

RestaurantEquipment.Bid -- http://www.RestaurantEquipment.Bid-- is
a marketplace for furniture, fixtures, small wares and supplies for
restaurants. The company, part of TAGeXBrands
(www.TAGeXBrands.com), began to relieve restaurant headaches for
closures and asset liquidation in the food service industry.

                 About Garden Fresh Restaurants

Founded in 1978 and headquartered in San Diego, CA, Garden Fresh
owns of 123 Souplantation and Sweet Tomatoes restaurants across 15
states.  Garden Fresh has 5,500 employees, approximately 5,000 of
whom are employed on an hourly basis.

Garden Fresh Restaurant Intermediate Holding, LLC, and its
affiliates filed Chapter 11 petitions (Bankr. D. Del. Case Nos.
16-12174 to 16-12178) on Oct. 3, 2016.  In the bankruptcy case, the
Debtors hired Morgan, Lewis & Bockius LLP as general counsel;
Young, Conaway, Stargatt & Taylor, LLP as local counsel; Piper
Jaffray Companies as financial advisor; and Epiq Bankruptcy
Solutions, LLC as claims and noticing agent.

Garden Fresh Restaurants LLC filed a petition for Chapter 7
liquidation (Bankr. S..D. Cal. Case No. 20-02477) on May 14, 2020.
The company reported assets between $50 million and $100 million
and liabilities of similar range.  The Hon. Louise Decarl Adler is
the presiding judge.  

The Debtor's counsel in the Chapter 7 case:

     Gary B. Rudolph
     Sullivan Hill Rez & Engel, Aplc
     Tel: 619-233-4100
     E-mail: rudolph@sullivanhill.com



GOGO INC: Inks 6th Amendment to Services Agreement with Delta Air
-----------------------------------------------------------------
Gogo LLC, an indirect wholly owned subsidiary of Gogo Inc., entered
into Amendment No. 6 to the 2Ku In-Flight Connectivity Services
Agreement, dated as of April 1, 2015, between Gogo and Delta Air
Lines, Inc.  The Amendment provides for (i) the early expiration of
the 2Ku Agreement on a fleet-by-fleet staggered schedule beginning
in November of 2020 and running through July of 2022 and (ii)
deletion of Section 11.2.7 of the 2Ku Agreement, which gave Delta
the right to terminate the 2Ku Agreement if, among other things, a
materially improved in-flight connectivity product becomes
commercially available and the failure to offer that alternative
would likely cause Delta competitive harm.

The Company is issuing the following statement regarding the
Amendment and related matters:

   * The Amendment comes in the course of discussions between
     Gogo and Delta for the provision of free Wi-fi service to
     passengers on Delta aircraft.

       - The current 2Ku Agreement is a "turnkey" contract, and
         provides Gogo commercial control of Wi-fi offerings on
         certain aircraft in return for Gogo subsidizing the
         installation of equipment on those aircraft and paying a
         royalty to Delta.

       - In order for Delta to provide free Wi-fi services, Delta
         must control the commercial relationship with its
         passengers under an "airline directed" contract, and in
         turn pay directly for the provision of in-flight
         connectivity services.

   * Delta has informed Gogo that since it will be paying for Wi-
     fi services under the airline directed business model it is
     a strategic procurement imperative that it diversify its
     provider base in order to generate competition between
     providers, and that it intends to split its fleet between
     Gogo and a competitor.

   * Delta has also informed Gogo that it does not believe there
     is currently enough Ku satellite capacity over North America
     to meet its extensive user experience expectations for free
     Wi-fi service on its desired timeline.

   * In order to meet Delta's expansive capacity needs, Gogo has
     been working on a Ka solution to augment its 2Ku solution,
     and has made significant progress on that offering, which is
     expected to include a cost-effective overnight conversion
     from a 2Ku installation to a 2Ka installation.

   * The 2Ku Agreement covers 575 predominately single-aisle,
     mainline jets that fly routes in North America.  Gogo also
     has contracts with Delta for approximately 694 additional
     Delta aircraft, consisting of twin aisle jets that fly
     international routes using Ku satellite capacity and a mix  
     of older mainline aircraft and regional jets flying domestic
     routes utilizing the Gogo ATG network.

   * Gogo notes that most commercial airlines have multiple
     suppliers for in-flight connectivity and that at Gogo
     airline partners that provide Gogo with customer
     satisfaction data, the Gogo 2Ku product outperforms all
     competitive offerings.

Oakleigh Thorne, the Company's president and CEO, concluded the
statement by saying:

"Though we do not relish the idea of having a competitor join us at
Delta, this amendment gives us time to complete our 2Ka offering
and add capacity to our 2Ku network and will enable us to compete
effectively for the fleets in question.

"We are also very pleased to see Delta's continued focus on
providing free Wi-fi despite the impact of COVID-19 and view that
as a positive for the in-flight connectivity industry as it will
drive demand.

"We look forward to continuing to work with Delta to drive its
vision."

                       About Gogo Inc.

Gogo Inc. -- http://www.gogoair.com-- is an inflight internet
company that provides broadband connectivity products and services
for aviation.  It designs and sources innovative network solutions
that connect aircraft to the Internet, and develop software and
platforms that enable customizable solutions for and by its
aviation partners.  Gogo's products and services are installed on
thousands of aircraft operated by the leading global commercial
airlines and thousands of private aircraft, including those of the
largest fractional ownership operators. Gogo is headquartered in
Chicago, IL, with additional facilities in Broomfield, CO, and
locations across the globe.

Gogo Inc. reported a net loss of $146 million for the year ended
Dec. 31, 2019, compared to a net loss of $162.03 million for the
year ended Dec. 31, 2018.  As of Dec. 31, 2019, the Company had
$1.21 billion in total assets, $1.61 billion in total liabilities,
and a total stockholders' deficit of $398.89 million.

As of March 31, 2020, the Company had $1.19 billion in total
assets, $1.68 billion in total liabilities, and a total
stockholders' deficit of $486.61 million.

                         *   *   *

As reported by the TCR on April 18, 2019, Moody's Investors Service
changed the outlook on Gogo Inc. to stable from negative.
Concurrently, Moody's affirmed Gogo's corporate family rating at
Caa1.  Moody's said that despite the improvement in liquidity,
Gogo's Caa1 CFR remains warranted given the company's high leverage
which Moody's expects at around 9.9x (Moody's adjusted debt/EBITDA)
by end 2019 along with the continued need for Gogo to invest
heavily in technology and equipment installs to pursue its growth
ambitions outside of North America.  Gogo's Caa1 also reflects the
company's small scale relative to other players in the wider
telecommunications industry as well as the highly competitive
environment it operates in.

As reported by the TCR on March 20, 2020, S&P Global Ratings placed
all of its ratings on Gogo Inc., including its 'CCC+' issuer credit
rating, on CreditWatch with negative implications. S&P placed its
ratings on Gogo on CreditWatch with negative implications because
the company does not have sufficient liquidity cushion to absorb a
significant and prolonged cut to global air travel.


GVM INC: Exits Chapter 11 Bankruptcy with Help of Liquid Finance
----------------------------------------------------------------
GVM Inc. of Biglerville, PA, an American manufacturer of high-end
agriculture equipment called Prowler Double Duty Spreaders and Mako
Sprayers, has exited Chapter 11 Bankruptcy in a transaction with
Liquid Finance. With the reorganization, GVM has cleaned their
balance sheet, allowing them to continue manufacturing state of the
art agriculture and snow equipment in their facilities in Ohio,
Pennsylvania, Missouri, and Indiana. Liquid Finance structured a
transaction that helps GVM grow distribution across North America.

The transaction was finalized May 28, which allowed GVM to exit
bankruptcy protection and fulfill orders for farmers and
agricultural co-ops across the USA.

"This saves American manufacturing jobs and continues GVM's
agriculture innovation which in turn helps American crop yields,"
said William Melvin, CEO of Liquid Finance. "It's pretty cool to
accomplish this in the post COVID-19 world. GVM manufacturers the
best fertilizer spreaders in the world, and this transaction allows
them to continue their growth across North America. We believe
their success could help increase food yields globally in the next
10 years, plus their snow products help state departments of
transportation reduce costs."

GVM operates locations in Pennsylvania, Ohio, Indiana, Missouri,
Georgia, Washington, and California, distributing product
throughout the US, Canada, and Australia. Their equipment provides
farmers and Agricultural retailers the highest Return on Investment
(ROI) in the market. GVM products include the Prowler, Mako, Double
Duty Twin Chain Spreader, GVM Air and T-Series Booms, and Hydra
Spreaders. GVM's industry leading Snow Anti-icing and Brine systems
save costs for State Transportation Departments across the east
coast.

"Liquid Finance is excited to assist with GVM's success. When we
met with the GVM team, we learned they had some unique challenges
ahead of them," said Melvin. "We see value and find solutions that
other finance companies struggle with. We were able to structure a
transaction that allows them to clean up their balance sheet, lower
costs, and get back on their feet to grow in the years ahead. It's
great to help save American manufacturing jobs and American
innovation. Farmers can sleep at night knowing the GVM Prowler is
keeping their crops safe."

                     About Liquid Finance

Liquid Finance -- http://www.LiquidFC.com/-- is an asset based
finance company that structures unique transactions that help
companies in distress. They see value and solutions to help
companies grow. Liquid Finance helps manufacturers, retailers, and
wholesalers in distressed special situations when they are looking
for strategic alternatives. They operate with term loans, asset
based loans, sale leasebacks, Debtor-In-Possession loans,
bankruptcy exit loans, and other high stress special situation
finance. With field staff across North America they can quickly
review transactions and submit proposals within tight timelines.
Their typical deal size is $1 million to $50 million.

                       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.


IQVIA INC: S&P Rates New $800MM Senior Unsecured Notes 'BB'
-----------------------------------------------------------
S&P Global Ratings assigned its 'BB' rating and '5' recovery rating
to IQVIA Inc.'s proposed senior unsecured notes due 2028. The '5'
recovery rating indicates S&P's expectation for modest (10%-30%;
rounded estimate: 10%) recovery in the event of a payment default.

"We expect the company to use the proceeds from these notes to
redeem its existing unsecured debt, to repay a portion of the
outstanding revolver, and to pay fees and expenses related to this
offering. We view this transaction as leverage neutral," S&P said.

"Our 'BB+' long-term issuer credit rating and stable outlook on the
company's parent, IQVIA Holdings Inc., remain unchanged. For the
most updated ratings rationale, please refer to the research update
published June 8, 2020," the rating agency said.


LUCKY BUMS: July 30 Amended Disclosure Statement Hearing Set
------------------------------------------------------------
Debtor Lucky Bums Subsidiary LLC filed with the U.S. Bankruptcy
Court for the District of Montana a motion to continue hearing and
set deadlines for its Amended Disclosure Statement.

On May 21, 2020, Judge Benjamin P. Hursh granted the motion and
ordered that:

   * The Debtor will have until June 12, 2020, to file an amended
Chapter 11 plan and disclosure statement.

   * July 30, 2020, at 9:00 a.m. in the Bankruptcy Courtroom,
Russel Smith Courthouse, 201 East Broadway, Missoula, Montana is
the hearing to consider the approval of Debtor's Amended Disclosure
Statement.

   * July 10, 2020, is fixed as the last day for filing and serving
written objections to the disclosure statement.

A copy of the order dated May 21, 2020, is available at
https://tinyurl.com/ybgosql2 from PacerMonitor at no charge.

Attorneys for the Debtor:

         Matt Shimanek
         Shimanek Law PLLC
         317 East Spruce St.
         Missoula, MT 59802
         Phone: (406) 544-8049
         E-mail: matt@shimaneklaw.com

                 About Lucky Bums Subsidiary

Lucky Bums Subsidiary LLC -- https://www.luckybums.com/ -- is a
wholesaler of sporting and recreation goods.

Lucky Bums Subsidiary filed a voluntary Chapter 11 petition (Bankr.
D. Mont. Case No. 19-61084) on Oct. 28, 2019, and is represented by
Matt Shimanek, Esq., at Shimanek Law P.L.L.C.  In its petition, the
Debtor was estimated to have under $10 million in both assets and
liabilities. Judge Benjamin P. Hursh oversees the case.


NFINITY GROUP: Gets Court Approval to Hire DPR Realty
-----------------------------------------------------
Nfinity Group, Inc. received approval from the U.S. Bankruptcy
Court for the District of Arizona to hire DPR Realty, LLC.

DPR Realty will assist in the sale of Debtor's property located at
5335 N. 34th St., Phoenix, Ariz.

The firm will get a 6 percent commission on the sales price.  The
commission may be split with a buying side broker.

Zachary Silvernail, a realtor at DPR Realty, disclosed in court
filings that he does not represent any interest adverse to Debtor
and its bankruptcy estate.

The firm can be reached through:

     Zachary Silvernail
     DPR Realty, LLC
     16 W Camelback Rd
     Phoenix, AZ 85013
     Phone: (602) 384-3809

                       About Nfinity Group

Nfinity Group, Inc. sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Ariz. Case No. 20-00376) on Jan. 12,
2020.  At the time of the filing, Debtor was estimated to have
assets of less than $50,000 and liabilities of less than $50,000.
Judge Brenda K. Martin oversees the case.  Debtor tapped Greeves &
Roethler, PLC, as its legal counsel.


NPC INTERNATIONAL: S&P Rates Super-Priority Term Loan 'CCC+'
------------------------------------------------------------
S&P Global Ratings assigned its 'CCC+' issue-level rating and '1'
recovery rating to U.S.-based Pizza Hut and Wendy's restaurants
franchisee NPC International Inc.'s new $80 million incremental
super-priority term loan. As of May 20, 2020, the company had drawn
an initial $40 million under the facility, which it used to fully
repay the outstanding principal on its existing super-priority term
loan. The '1' recovery rating indicates its expectation for very
high (90%-100%; rounded estimate: 95%) recovery in the event of a
payment default.

"Our 'CCC+' issue-level rating on the super-priority term loan
reflects that we would likely raise our issuer credit rating on NPC
to 'CCC-' if it resumed payments on its debt obligations," S&P
said.

S&P's 'SD' (selective default) issuer credit rating on NPC and its
'D' issue-level ratings on the company's first- and second-lien
term loan remain unchanged because the company has not resumed
paying interest on the facilities. The rating agency will
re-evaluate its issuer credit rating on the company following
either a restructuring event or the termination of the forbearance
agreement.

"Our '4' recovery rating on NPC's first-lien term loan remains
unchanged; however, we have revised our rounded recovery estimate
to 35% from 40%. The decline in our expected recovery reflects the
additional super-priority debt in the company's capital structure.
Our '6' recovery rating on NPC's second-lien term loan remains
unchanged. We will discontinue our ratings on the existing
super-priority term loan as it has been fully repaid," S&P said.


NPHSS LLC: Unsecureds 'Likely to Recover 100%' in Sale Plan
-----------------------------------------------------------
NPHSS, LLC, filed with the U.S. Bankruptcy Court for the Northern
District of California a Combined Plan of Reorganization and
Disclosure Statement on May 19, 2020.

Holders of Class 2(a) General Unsecured Claims will receive a
pro-rata share, likely to result in a 100% recovery of allowed
claims, of a fund totaling $1,700,000, created by sale of the
Carmel Property.  Pro-rata means the entire amount of the fund
divided by the entire amount owed to creditors with allowed claims
in this class.  A lump sum distribution will be made within six
months from the Effective Date of the Plan.

Claims filed by Christopher Donohue, Jeffrey Ma, Michael Luu, Ryan
Gin, Poh-Ngo Ang, and Ahmet & Birsen Gokcek, are all disputed.
These claimants have asserted claims against the Debtor based on
promissory notes owed by NP Sand and Sea Partners, LLC, a
non-managing member with an 80% interest in Debtor.

The Debtor will retain its current ownership interests, and
Franklin Loffer, the Debtor's managing member, will retain his
position as managing member, without compensation.  The ownership
interests are: NP Sand and Sea Partners, LLC, non-managing member
with 80% interest; Paul W. Hiss 2001 Trust, a non-managing member
with a 9.3% interest; and the Hiss/Katz Family Trust, a
non-managing member with a 10.7% interest.

The Debtor had originally planned to tear down the house situated
on the Carmel Property, and construct a bigger more valuable
residence.  The Debtor obtained preliminary approval from the City
of Carmel.  The Debtor may not have the time or resources to pursue
this option. One year ago the Carmel Property was appraised at
$7,400,000.  The Debtor expects to market the property for sale at
$7,500,000 on June 17, 2020 with a sale at or near its listed value
within six months of the Effective Date of Plan confirmation.

A full-text copy of the Combined Plan and Disclosure Statement
dated May 19, 2020, is available at https://tinyurl.com/yb797xjb
from PacerMonitor at no charge.

The Debtor is represented by:

        Stanley Zlotoff
        300 S. First St. #215
        San Jose, CA 95113

                       About NPHSS LLC

NPHSS, LLC, is a single asset real estate debtor (as defined in 11
U.S.C. Section 101(51B)) based in Carmel by the Sea, Calif.

NPHSS filed a Chapter 11 petition (Bankr. N.D. Cal. Case No.
20-50296) on Feb. 19, 2020.  The petition was signed by Franklin
Davis Loffer, III, Debtor's managing member.  At the time of the
filing, the Debtor was estimated to have assets of between $1
million and $10 million and liabilities of the same range.  Judge
Stephen L. Johnson oversees the case.  Stanley Zlotoff, Esq., is
the Debtor's bankruptcy counsel.


PG&E CORP: Announces Selection of New Board Upon Ch.11 Emergence
----------------------------------------------------------------
In connection with its expected emergence from Chapter 11, PG&E
Corporation ("PG&E") on June 10 announced the selection of a new
Board of Directors upon emergence to help guide the company
post-bankruptcy. The new Board will consist of 14 members, 11 of
whom are new and will be officially appointed to join the Board at
or prior to emergence from bankruptcy and following required
bankruptcy court submissions. It is expected that the Board of
Directors of utility subsidiary Pacific Gas and Electric Company
will largely be the same as PG&E.

The changeover of the Board is part of PG&E's efforts to transform
into a stronger company in order to improve operations and safety
and better serve its customers and communities. The 11 new Board
members offer substantial expertise in key areas critical to the
company's work. These include utility operations and management,
safety and environment, risk management, customer engagement,
innovation and technology, regulatory affairs (state and federal),
audit and finance, corporate governance, nuclear operations and
decommissioning, and human capital and executive compensation. In
addition, six of the 11 new directors are from California and have
made their careers in the state, gaining extensive knowledge of the
communities PG&E serves and the political, social, and physical
environment in which the company operates.

Nora Mead Brownell, the current Chair of the PG&E Board, said:
"Putting in place a new Board is a critical component of PG&E's
plan to emerge from bankruptcy as a reimagined utility -- one that
is in touch with its customers and communities and is safe,
reliable, financially stable, and capable of helping California
meet its energy goals. I want to thank all of the retiring
directors -- as well as all of the employees -- who together have
worked so hard to navigate the very difficult issues this company
has faced. This is the right time for a changeover given that the
company will soon emerge from bankruptcy and start a new chapter. I
am confident that our newly appointed Interim CEO, Bill Smith, and
the rest of our senior management team will work collaboratively
with the new Board to help PG&E continue to make fundamental
changes and move forward."

The new Board will be comprised of the following (remaining Board
members indicated with an asterisk):

Rajat Bahri – Currently CFO of Wish, a mobile eCommerce platform
(2016-present); previously CFO of Jasper Technologies (2013-2016),
CFO of Trimble Navigation (2005-2013), and CFO of Kraft Canada
(2001-2004). Beyond his financial expertise, Bahri brings decades
of experience in executive compensation, enterprise risk
management, and corporate governance and the operation of audit
committees.

*Cheryl Campbell – Currently consultant, providing safety and
leadership consulting and has 35 years of energy experience in
interstate pipelines and utilities; previously 13 years at Xcel
Energy (2004-2018), member of the U.S. Department of
Transportation's Gas Pipeline Advisory Committee (2013-2018), and
member of the independent panel assessing the safety of 11 gas
utilities in Massachusetts following the September 2018 explosions
and fires in Merrimack Valley (2018-2020). Campbell has extensive
experience with risk management, employee and public safety, and
regulatory, environmental, and operating plans in the gas
industry.

Kerry Cooper – Most recently President and COO of Rothy's
(2017-2020); previously CEO of Choose Energy (2013-2016), COO and
CMO of ModCloth (2010-2013), VP, Global eCommerce of Walmart
(2010), and CMO and VP, Marketing and Strategy of Walmart
(2008-2010). Cooper has extensive experience in the consumer space,
leveraging customer insights to create a better customer experience
through a multi-channel approach, including mobile and online
strategies.

Jessica Denecour – Most recently Senior VP and CIO of Varian
Medical Systems; previously numerous roles at Agilent Technologies,
including VP of Global IT Applications and Solution Services
(2005), VP of Global Infrastructure and Operations Services
(2000-2004), and Senior Director and CIO of Test and Measurement
Group (1999-2000), and 16 years at Hewlett Packard. Denecour joins
the Board with decades of experience in information technology and
cybersecurity, having led IT transformations that encompassed
customer, voice and data networks, data center operations,
security, and technical computing.

Admiral Mark Ferguson – Currently Senior Advisor to private
consultancies and the Institute for Defense Analysis and NATO
Allied Command Transformation; previously 38-year career in the
U.S. Navy, retiring in 2016 after having served as Commander of the
U.S. Naval Forces in Europe and Africa and NATO Allied Joint Force
Command (2014-2016) and Vice Chief of Naval Operations (2011-2014).
Through Ferguson's leadership positions in the U.S. Navy, he brings
the PG&E Board decades of experience in nuclear reactor operations,
risk and change management, cyber preparedness, legislative
initiatives, personnel operations, and the efficient management of
transportation and equipment assets.

Bob Flexon – Most recently CEO of Dynegy (2011-2018); previously
CFO of UGI (2001-2011). Flexon's expertise is in finance and
accounting in the chemicals and oil and gas sectors. He brings
experience in safety, workforce organization, and turnarounds
having led both Dynegy's 2011 bankruptcy and its culture
transformation and M&A growth post-emergence.

Craig Fugate – Currently Chief Emergency Management Officer of
One Concern (2017-present); previously Administrator of the Federal
Emergency Management Agency (FEMA) (2009-2017), and Director of the
Florida Division of Emergency Management (2001-2009). Fugate joins
the Board with decades of experience at the local, state, and
federal levels in disaster preparedness and management. He has
overseen preparation and response efforts for disasters such as
wildfires and hurricanes, health crises, and national security
threats.

Arno Harris – Currently Managing Partner of AHC (2015-present);
previously Executive Chair and CEO of Alta Motors (2017-2018),
Founder, CEO and Board Chair of Recurrent Energy (2006-2015), CEO
and General Manager of EI Solutions (2005-2006), and Founder and
CEO of Prevalent Power, Inc. (2001-2004). Harris has dedicated his
career to solving climate change through the intersection of
technology, business, and public policy. He has extensive
experience in the clean energy and electric mobility sectors with a
focus on innovation, change, and advocacy.

Mike Niggli – Most recently 13 years at Sempra Energy, including
President and COO of San Diego Gas & Electric (2010-2013), COO of
San Diego Gas & Electric (2007-2010), COO of Southern California
Gas (2006-2007), and President of Sempra Generation (2000-2006);
previously Chairman, CEO and President of Sierra Pacific
Resources/Nevada Power Company (1998-2000). Niggli brings long-time
leadership experience in regulated utilities. He has strong
relationships across the industry with significant accomplishments
in areas of reliability, customer satisfaction, supplier diversity,
and climate-oriented management.

Dean Seavers – Most recently President and Executive Director of
National Grid (2015-2020); previously Founder, CEO and Board Member
of Red Hawk Fire & Security (2012-2018), President of Global
Services of United Technologies Fire and Security (2010-2011), and
President and CEO of GE Security (2007-2010). Following a long
career in managing operations in commercial and residential
security companies, Seavers led National Grid's business
transformation, which included a focus on safety culture and
performance. He is experienced in customer-centric initiatives and
led the division of National Grid's utilities into jurisdictions
with jurisdictional presidents.

*Bill Smith – Currently Interim CEO of PG&E Corporation;
previously 37 years with AT&T Technology Operations at AT&T
Services, Inc. Smith brings to PG&E decades of operational and
transformation experience in large and heavily regulated,
consumer-facing organizations with expertise in data center and
information technology operations, field operations, planning,
engineering, construction, provisioning, and maintenance.

Dara Treseder – Currently CMO of Carbon (2018-present);
previously CMO of GE Business Innovations and GE Ventures
(2017-2018), and Global Head of Demand Generation of Apple's
FileMaker Division (2015-2017). Treseder is experienced in leading
marketing and communications in highly regulated industries and
driving customer engagement to increase growth. She brings
expertise and focus to digital transformations.

Ben Wilson – Currently Chairman of national law firm Beveridge &
Diamond PC (2017-present), where he has spent his career since
1986. Through his work litigating and advising clients on
environmental issues as well as his service as Monitor for the Duke
Energy coal ash spill remediation project and as Deputy Monitor in
the Volkswagen emissions proceedings, Wilson brings extensive
experience in workplace safety, relevant environmental and wildlife
protection legislation, and the need for communication,
accountability, and transparency in dealing with customers and
regulators.

*John Woolard – Currently CEO of Meridian Energy and Senior
Partner at Activate Capital; previously President and CEO of
BrightSource Energy (2006-2013), CEO of Silicon Energy Corp.
(1998-2003), and VP of Energy at Google (2014-2016). Woolard has
more than 20 years of leadership experience in the energy
technology sector, developing world-class clean energy projects,
and has extensive expertise in software and grid modernization
solutions as well as California's regulatory and policy goals in
the energy sector.

                      About PG&E Corporation

PG&E Corporation (NYSE: PCG) -- http://www.pgecorp.com/-- is a
Fortune 200 energy-based holding company, headquartered in San
Francisco. It is the parent company of Pacific Gas and Electric
Company, an energy company that serves 16 million Californians
across a 70,000-square-mile service area in Northern and Central
California.

As of Sept. 30, 2018, the Debtors, on a consolidated basis, had
reported $71.4 billion in assets on a book value basis and $51.7
billion in liabilities on a book value basis.

PG&E Corp. and Pacific Gas employ approximately 24,000 regular
employees, approximately 20 of whom are employed by PG&E Corp.  Of
Pacific Gas' regular employees, approximately 15,000 are covered
by
collective bargaining agreements with local chapters of three labor
unions: (i) the International Brotherhood of Electrical Workers;
(ii) the Engineers and Scientists of California; and (iii) the
Service Employees International Union.

On Jan. 29, 2019, PG&E Corp. and its primary operating subsidiary,
Pacific Gas and Electric Company, filed voluntary Chapter 11
petitions (Bankr. N.D. Cal. Lead Case No. 19-30088).

PG&E Corporation and its regulated utility subsidiary, Pacific Gas
and Electric Company, said they are facing extraordinary challenges
relating to a series of catastrophic wildfires that occurred in
Northern California in 2017 and 2018.  The utility said it faces an
estimated $30 billion in potential liability damages from
California's deadliest wildfires of 2017 and 2018.

Weil, Gotshal & Manges LLP and Cravath, Swaine & Moore LLP are
serving as PG&E's legal counsel, Lazard is serving as its
investment banker and AlixPartners, LLP is serving as the
restructuring advisor to PG&E. Prime Clerk LLC is the claims and
noticing agent.

In order to help support the Company through the reorganization
process, PG&E has appointed James A. Mesterharm, a managing
director at AlixPartners, LLP, and an authorized representative of
AP Services, LLC, to serve as Chief Restructuring Officer.  In
addition, PG&E appointed John Boken also a Managing Director at
AlixPartners and an authorized representative of APS, to serve as
Deputy Chief Restructuring Officer.  Mr. Mesterharm, Mr. Boken and
their colleagues at AlixPartners will continue to assist PG&E with
the reorganization process and related  activities. Morrison &
Foerster LLP, as special regulatory counsel.  Munger Tolles & Olson
LLP, is special counsel.

The Office of the U.S. Trustee appointed an official committee of
creditors on Feb. 12, 2019.  The Committee retained Milbank LLP as
counsel; FTI Consulting, Inc., as financial advisor; Centerview
Partners LLC as investment banker; and Epiq Corporate
Restructuring, LLC as claims and noticing agent.

On Feb. 15, 2019, the U.S. trustee appointed an official committee
of tort claimants.  The tort claimants' committee is represented by
Baker & Hostetler LLP.


PIERCE CONTRACTORS: Has Until Aug. 12 to File Plan & Disclosures
----------------------------------------------------------------
Judge M. Elaine Hammond has entered an order setting a deadline for
debtor Pierce Contractors, Inc., to file a Chapter 11 plan and
disclosure statement to August 12, 2020.

The next scheduled status conference in the case will be held on
Aug. 27, 2020, at 10:30 a.m.

A copy of the order dated May 21, 2020, is available at
https://tinyurl.com/ybpw2fcv from PacerMonitor at no charge.

                   About Pierce Contractors

Pierce Contractors, Inc., sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Cal. Case No. 20-50182) on Jan. 31,
2020, listing under $1 million on both assets and liabilities.
William Winters, Esq., is serving as the Debtor's counsel.


PUBLIC BIKES: Reorganization Plan Confirmed by Judge
----------------------------------------------------
Judge Dennis Montali has entered an order confirming the Plan of
Reorganization filed by debtor Public Bikes, Inc.

Since the Plan was confirmed pursuant to Section 1191(b), the
Trustee shall be substituted for the Debtor in Articles 5 – 8 and
10 of the Plan.

A full-text copy of the plan of reorganization dated May 19, 2020,
is available at https://tinyurl.com/yc76cbjt from PacerMonitor at
no charge.

Counsel for the Debtor:

         Michael St. James
         ST. JAMES LAW, P.C.
         22 Battery Street, Suite 888
         San Francisco, California 94111
         Tel: (415) 391-7566
         Fax: (415) 391-7568
         E-mail: michael@stjames-law.com

                     About Public Bikes Inc.

Public Bikes, Inc., a lessor of non-financial intangible assets
(except copyrighted works), sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. N.D. Cal. Case No. 20-30310) on March
31, 2020.  At the time of the filing, the Debtor was estimated to
have assets of between $100,000 and $500,000 and liabilities of
between $1 million and $10 million.  Judge Dennis Montali oversees
the case.  St. James Law, P.C., is the Debtor's legal counsel.


REGIONAL HEALTH: Reports $2.26 Million Net Loss for First Quarter
-----------------------------------------------------------------
Regional Health Properties, Inc., reported a net loss attributable
to common stockholders of $2.26 million on $4.55 million of total
revenues for the three months ended March 31, 2020, compared to a
net loss attributable to common stockholders of $2.06 million on
$5.42 million of total revenues for the three months ended March
31, 2019.

As of March 31, 2020, the Company had $112.36 million in total
assets, $100.62 million in total liabilities, and $11.74 million in
total stockholders' equity.

The Company said it is undertaking measures to grow its operations,
streamline its cost infrastructure and otherwise increase liquidity
by: (i) refinancing or repaying debt to reduce interest costs and
mandatory principal repayments, with such repayment to be funded
through potentially expanding borrowing arrangements with certain
lenders or raising capital through the issuance of securities after
restructuring of the Company's capital structure; (ii) increasing
future lease revenue through acquisitions and investments in
existing properties; (iii) modifying the terms of existing leases;
(iv) replacing certain tenants who default on their lease payment
terms; and (v) reducing other and general and administrative
expenses.

Management anticipates access to several sources of liquidity,
including cash on hand, cash flows from operations, and debt
refinancing during the twelve months from the date of this filing.
At March 31, 2020, the Company had $4.0 million in unrestricted
cash, $7.5 million current assets and $13.8 million in current
liabilities and negative working capital of approximately $0.1
million, which excludes $6.2 million of current operating lease
obligation.  During the three months ended March 31, 2020, the
Company generated positive cash flow from continuing operations of
$0.3 million and anticipates continued positive cash flow from
operations in the future.

On June 8, 2018, the Board indefinitely suspended quarterly
dividend payments with respect to the Series A Preferred Stock. As
of March 31, 2020, as a result of the suspension of the dividend
payment on the Series A Preferred Stock commencing with the fourth
quarter 2017 dividend period, the Company has $21.1 million of
undeclared preferred stock dividends in arrears.  The Board plans
to revisit the dividend payment policy with respect to the Series A
Preferred Stock on an ongoing basis.  The Board believes that the
dividend suspension will provide the Company with additional funds
to meet, in part, its ongoing liquidity needs.  As the Company has
failed to pay cash dividends on the outstanding Series A Preferred
Stock in full for more than four dividend periods, the annual
dividend rate on the Series A Preferred Stock for the fifth and
future missed dividend periods has increased to 12.875%, which is
equivalent to $3.22 per share each year, commencing on the first
day after the missed fourth quarterly payment (Oct. 1, 2018) and
continuing until the second consecutive dividend payment date
following such time as the Company has paid all accumulated and
unpaid dividends on the Series A Preferred Stock in full in cash.

As of March 31, 2020, the Company had $55.0 million in
indebtedness.  The Company anticipates net principal repayments of
approximately $1.7 million during the next twelve-month period
which include approximately $1.6 million of routine debt service
amortization, and a $0.1 million payment of bond debt.

As of March 31, 2020, the Company was in compliance with the
various covenants for the Company's outstanding credit related
instruments.

A full-text copy of the Quarterly Report is available for free at
the Securities and Exchange Commission's website at:

                      https://is.gd/2YPl65

                       About Regional Health

Regional Health Properties, Inc. (NYSE American: RHE) (NYSE
American: RHEpA) -- http://www.regionalhealthproperties.com/-- is
the successor to AdCare Health Systems, Inc., and is a self-managed
healthcare real estate investment company that invests primarily in
real estate purposed for senior living and long-term healthcare
through facility lease and sub-lease transactions. Regional
currently owns, leases or manages for third parties 24 facilities
(12 of which are owned by Regional, 12 of which are leased by
Regional and three of which are managed by Regional for third
parties).

Regional Health reported a net loss attributable to the company's
common stockholders of $3.50 million for the year ended Dec. 31,
2019 compared to a net loss attributable to the company's common
stockholders of $19.88 million for the year ended Dec. 31, 2018.
As of Dec. 31, 2019, the Company had $113.76 million in total
assets, $102.02 million in total liabilities, and $11.74 million in
total stockholders' equity.


SANDY CREEK: S&P Lowers Rating to 'CCC-' on Heightened Default Risk
-------------------------------------------------------------------
S&P Global Ratings lowered its issue-level rating on Sandy Creek
Energy Associate L.P.'s (SCEA) senior secured term loan to 'CCC-'
from 'CCC'. The outlook is negative. The '3' recovery rating is
unchanged, reflecting S&P's expectation for meaningful recovery
(50%-70%; rounded estimate: 65%) in the event of default.

SCEA owns 604 megawatts (MW) of the 945MW Sandy Creek coal plant in
Riesel, Texas. Of the 604 MW, 259 MW are under 30-year power
purchase agreements (PPAs) with creditworthy wholesale power
providers Brazos Electric Power Cooperative Inc. (Brazos; about 155
MW) and the Lower Colorado River Authority (LCRA; about 104 MW).

SCEA's near-term maturity in November 2020, the challenging
refinancing environment for coal-fired generators, and the large
amount of debt on the project underpin S&P's view of the project's
credit quality.

"Despite good recent operating performance, we believe SCEA will be
unable to refinance its near-term maturity. The rating reflects our
view of the challenging refinancing environment and likelihood of a
default over the next six months without some unforeseen positive
development. We hold this view despite the project's good recent
operating and financial performance," S&P said.

SCEA's inability to date to refinance its term loan due in November
2020 underscores the enormity of the refinancing challenge it faces
as an operator of a coal-fired generator. S&P believes both market
fundamentals and environmental, social, and governance (ESG)
factors complicate the project's ability to refinance at an
acceptable interest rate. The ongoing substitution of base-load
generation by renewables in ERCOT presents market challenges to
coal plants, as they become more vulnerable to periods of low power
prices. Further, lenders, eyeing both future regulation as well as
their own environmental, social, and governmental mandates, are
likely to continue to eschew financing coal plants. With a smaller
pool of lenders from which to obtain financing, SCEA would face
permanently higher debt service costs, irrespective of broader
financial conditions, which are also currently unfavorable.

Sandy Creek also has a large amount of debt still on the project,
making a refinancing even more challenging. SCEA would likely be
unable to accept more stringent refinancing terms from lenders due
to the large amount of debt remaining on the project. Through the
life of the project's term loan—originally issued in late
2013—the actual debt balance has lagged considerably relative to
its target balances; as of March 31, 2020, SCEA's outstanding term
loan balance of $807 million stood in stark contrast to its target
balance of $445 million. The project has been unable to sweep
sufficient levels of cash on the term loan due to
lower-than-expected merchant energy revenues.

"On a go-forward basis, we believe the merchant portion of the
project will remain weak, placing a greater onus on the contracted
portion of the project to service debt. We view the contracted
portion favorably as it is supported by strong PPAs with
credit-worthy counterparties. However, the roughly $72 million per
year of EBITDA we expect from the contracted portion alone is
insufficient to fully support the project's current capital
structure given the amount of debt on the project and assumed
forward-looking marginal interest rates," S&P said.

The project's PPAs are a valuable asset. SCEA faces similar
challenges to those faced by other coal-fired projects in S&P's
rated universe that have been unable to refinance near-term
maturities, namely, vulnerability to periods of low natural gas
prices, future regulatory uncertainty, and a shrinking lender pool
driven by ESG concerns regarding coal. These similarities
notwithstanding, S&P believes SCEA's PPAs provide an advantage
relative to the project's rated peers. SCEA's PPAs have several
attractive features which provide the project a high degree of cash
flow certainty over the lives of the PPAs, which expire in 2043:
full cost pass-throughs, which remove risks from changes in the
cost of fuel; and change-in-law provisions, which fully compensate
SCEA for any capital expenses required to meet future environmental
standards.

"These contract features put SCEA in a relatively better position
for a refinancing than its peers. However, we still believe a
nonpayment event is inevitable within six months absent some
unforeseen positive development. Assuming there is no ability to
terminate either of them, SCEA's PPAs lead to a materially higher
recovery rating (discussed below) than would otherwise be the case
for a purely merchant generator," S&P said.

The negative outlook reflects the risk that the project is likely
to default on its debt obligations or pursue in or out of court
restructuring within six months without unforeseen positive
developments.

S&P could lower the rating if the project defaults on its debt
obligations or if it pursues a restructuring.

S&P could consider an upgrade if Sandy Creek successfully
refinances it outstanding debt. S&P would also need to have
confidence that the project would generate minimum debt service
coverage ratios (DSCRs) above 1.0x over the life of the asset.


SARACEN DEVELOPMENT: S&P Affirms 'CCC' ICR; Outlook Negative
------------------------------------------------------------
S&P Global Ratings affirmed its 'CCC' issuer credit rating on
Arkansas gaming operator Saracen Development LLC and removed all of
its ratings on the company from CreditWatch, where the rating
agency placed them with negative implications on March 20, 2020.

Despite construction delays from the COVID-19 pandemic, S&P
estimates Saracen's liquidity is adequate, at least over the next
12 months.  Saracen's initial capital structure included a funded
15-month interest reserve that originally covered its initial
eight-month construction period and seven months past its planned
June 2020 casino opening. The project was delayed as a result of
the COVID-19 pandemic. Saracen now expects to take control of the
main casino property in July and open in September or October.

As of March 31, 2020, Saracen had about $25 million of unrestricted
cash on its balance sheet and a $40 million funded interest
reserve, of which about $16 million was used to pay interest in
April 2020. S&P said, "Saracen does not have a revolving credit
facility, however S&P believes the company's liquidity sources
combined with the rating agency's forecast for cash flow generation
at the Annex should provide it with sufficient liquidity to cover
its debt obligations through at least April 2021 (third interest
payment). S&P therefore does not foresee a credit or payment crisis
within the next 12 months. Saracen estimates it burned $300,000 a
month at its Annex while the property was closed, which
incorporates its cost-reduction and liquidity preservation efforts,
including furloughing the majority of its workforce. Additionally,
Saracen still maintains its project contingency of about $16
million (representing about 15% of casino hard costs), despite
construction delays. The project contingency cannot be used to
cover interest payments, but provides further cushion to mitigate
additional cost overruns and delays in the construction timeline.

Despite adequate liquidity, the 'CCC' rating reflects Saracen's
reliance on favorable market conditions to generate sufficient cash
flow to meet its debt obligations following the opening of its
casino.   Saracen faces heightened risks associated with developing
and ramping up new gaming operations, including uncertainty over
the breadth and depth of the target gaming market, the need to
build a customer database from scratch, economic uncertainty, and
the need to service relatively high-interest construction loans.
These risks are exacerbated by the limited three-month post-opening
interest reserve (assuming the casino opens in October) and the
resulting need to ramp up very quickly in an uncertain economic
environment to service the capital structure. The Annex, an
adjacent property featuring slot machines, sports betting, and a
sports bar, opened in October 2019 and was performing above
expectations before the temporary closure in March 2020. With the
reopening May 18, it will provide at least 16 months of cash flows
before the April 2021 interest payment date, the first full
interest payment following the opening of the main casino facility
(only a portion of which will be covered by funds in the post
opening interest reserve). Still, S&P believes it will take some
time for the Annex's performance to recover to pre-pandemic levels
because the U.S. is in a recession and the unemployment rate is
high, which may impair consumer discretionary spending.
Additionally, S&P believes consumers may be reluctant to enter
enclosed public spaces because of continued fear of the
coronavirus. Social distancing and other health and safety measures
Saracen implemented at the property may impair customers'
experience, at least for some time, and affect the ramp-up of the
main casino.

S&P believes Saracen is strategically important to its owner,
Downstream Development Authority (DDA).  Although DDA's ability to
provide financial support is limited, S&P views the new casino
development as strategically important to the long-term growth
prospects. Saracen diversifies DDA into a new and deeply populated
market with limited current and future competition compared with
its property in Oklahoma. The project will also double DDA's
consolidated gaming offerings and generate significant cash flow.
S&P expects Saracen will account for over half of DDA's
consolidated revenue and EBITDA once it ramps up. DDA also owns
100% of Saracen, is required to maintain majority voting power, and
has ancestral ties to the area. DDA demonstrated its willingness
and intent to support the development by transferring the gaming
license to Saracen and providing start-up capital, development, and
management services. As a result, S&P's issuer credit rating on
Saracen is capped by its issuer credit rating on DDA.

Environmental, social, and governance (ESG) credit factors for this
credit rating change:

-- Health and safety

"The negative outlook reflects our belief that a weak economic
environment, with continued social distancing measures, and
possible consumer fears about being in enclosed public spaces could
lead to a weak ramp-up once Saracen Casino Resort opens, and an
inability for the company to improve EBITDA to a level that
comfortably covers fixed charges," S&P said.

S&P could lower the ratings if construction challenges further
delay the project or lead to significant cost overruns. The rating
agency could also lower the ratings if it believes a default is
likely over the next six months because the impacts of the
recession and social distancing measures are more severe than it
anticipates.

"We are unlikely to revise the outlook to stable over the next year
given high uncertainty around when the coronavirus might be
contained, and how visitation to Saracen Casino Resort may be
affected by opening into an uncertain macroeconomic environment. We
are unlikely to consider an upgrade until the casino opens and we
can observe its operating performance. Additionally, our issuer
credit rating on Saracen is capped by our issuer credit rating on
DDA given its strategic importance to DDA's growth objectives and
ownership of Saracen," S&P said.


SFKR LLC: Tax Authorities Object to Amended Disclosure Statement
----------------------------------------------------------------
City of Hawkins, Mineola Independent School District, Panola County
and Tyler Independent School District filed an objection to the
Amended Disclosure Statement submitted by SFKR, LLC.

The Tax Authorities object to the Amended Disclosure Statement
filed May 18, 2020 and believe it still fails to meet the
requirements of adequate information required by Sec. 1125 of the
Bankruptcy Code.

The Tax Authorities object to inadequate disclosures regarding
Class 3 (Allowed Property Tax Claims).  The Amended Disclosure
Statement represents that Class 3 will be satisfied by sales of
property, but doesn't acknowledge there are Court filed objections
pending to current proposed sales, or how the claims of Tax
Authorities will be satisfied if any of the current or future
proposed motions to sell are denied – other than the revenue from
the continued operations of the business.

The Tax Authorities contend to the proposed treatment of a 48-month
payout on tax claims on properties not being sold.  The Amended
Disclosure Statement fails to state why retaining $410,000 cash for
a real estate only Debtor makes more sense than paying property tax
obligations accruing one-percent interest per month (12% per
year).

The Tax Authorities object to the Unsworn Declaration of Mr.
Shahzad Asghar.  Upon information and belief, the Exhibit and/or
Witness List is intended to be but not linked to the Amended
Disclosure Statement at hand.

The Tax Authorities object to the Amended Disclosure Statement
regarding the absence of any explanations regarding personal
property owned by the Debtor when the Debtor purports to sell
personal property in various Motions and Amended Motions to Sell
Property of the Estate.

A full-text copy of Tax Authorities' objection to the amended
disclosure statement dated May 21, 2020, is available at
https://tinyurl.com/yc58wwep from PacerMonitor at no charge.

Attorneys for Tax Authorities:

         Perdue, Brandon, Fielder, Collins & Mott LLP
         Tab Beall
         PO Box 2007
         Tyler, TX 75710-2007
         Tel: (903) 597-7664
              (903) 597-7664
         Fax: (903) 597-6298
         E-mail: tbeall@pbfcm.com
                 tylbkc@pbfcm.com

                        About SFKR LLC

SFKR, LLC, is a privately held company based in Tyler, Texas.  Its
business consists of the ownership of a number of pieces of
commercial property.

SFKR, LLC, sought Chapter 11 protection (Bankr. E.D. Tex. Case No.
19-60674) on Oct. 1, 2019.  In the petition signed by Shahzad
Asghar, managing member, the Debtor was estimated to have assets in
the range of $0 to $50,000 and $1 million to $10 million in debt.

The case is assigned to Judge Bill Parker.

The Debtor tapped Eric A. Liepins, Esq., at Eric A. Liepins, as
counsel.


SFKR LLC: UBANK Objects to Amended Disclosure Statement
-------------------------------------------------------
UBANK objects to the Amended Disclosure Statement filed debtor by
SFKR, LLC on May 18, 2020.

The Bank claims that the Amended Disclosure Statement fails to
provide information as to why Debtor decided to disregard its
obligations under the Agreed Order to incorporate in its Amended
Plan the agreed terms regarding the treatment of Bank's claim.

The Bank argues that the Amended Disclosure Statement fails to
notify creditors that due to its treatment of Bank's claim in Class
7, under the terms of the Agreed Order, the automatic stay has
terminated as to Bank's collateral.

The Bank asserts that the Amended Disclosure Statement fails to
advise of the treatment of Bank's claim in the event that the
proposed sale of the Bank's collateral is not approved or fails to
close.

The Bank further asserts that the Amended Disclosure Statement
fails to provide information as to whether Bank will retain its
lien under the Amended Plan of Reorganization and whether it is
deemed to be fully secured.

The Bank states that the Amended Disclosure Statement fails to
provide information concerning the proposed sale of Bank’s
collateral, including the amount of the proposed sale price and the
identity of the proposed purchaser, and fails to note whether the
proposed sales price will be sufficient to allow Bank to assert
rights under 11 U.S.C. §506.

A full-text copy of UBANK's objection dated May 19, 2020, is
available at https://tinyurl.com/yal87w6c from PacerMonitor at no
charge.

Attorney for UBANK:

         LAW OFFICES OF MICHAEL E. GAZETTE
         MICHAEL E. GAZETTE
         100 East Ferguson Street, Suite 1000
         Tyler, Texas 75702-5706
         Tel: (903) 596-9911
         Fax: (903) 596-9922
         E=mail: megazette@suddenlinkmail.com

                       About SFKR LLC

SFKR, LLC, is a privately held company based in Tyler, Texas.  Its
business consists of the ownership of a number of pieces of
commercial property.

SFKR, LLC, sought Chapter 11 protection (Bankr. E.D. Tex. Case No.
19-60674) on Oct. 1, 2019.  In the petition signed by Shahzad
Asghar, managing member, the Debtor was estimated to have assets in
the range of $0 to $50,000 and $1 million to $10 million in debt.

The case is assigned to Judge Bill Parker.

The Debtor tapped Eric A. Liepins, Esq., at Eric A. Liepins, as
counsel.


SKILLSOFT CORP: Files Chapter 11 to Facilitate Restructuring
------------------------------------------------------------
Skillsoft Corporation, a global leader in corporate learning, on
June 14 disclosed that it has entered into a Restructuring Support
Agreement ("RSA") with an overwhelming majority of its first and
second lien lenders. The RSA is expected to result in a
comprehensive de-levering of the Company's balance sheet by
reducing the Company's existing first lien and second lien debt to
$410 million from approximately $2.0 billion, with total debt
(including working capital financing) aggregating $585 million,
lowering the Company's annual cash interest by approximately $100
million (the "Restructuring").

As of the date of this release, holders representing approximately
81% in value of the Company's first lien debt and 84% in value of
the Company's second lien debt have executed the RSA, indicating
their commitment to support the Restructuring. The Restructuring is
expected to provide the Company with significant additional
liquidity and a right-sized pro-forma capital structure, while
minimizing operational disruptions by ensuring all holders of
general unsecured claims, including the Company's vendors,
suppliers, and other trade creditors, will be paid in full.
Additionally, it is expected that no employees will be affected as
a direct result of the Restructuring, ensuring that Skillsoft
customers continue to be well-served.

The RSA provides, among other things, that:

  -- Holders of the Company's first lien debt will receive their
pro rata share of approximately $410 million in takeback first lien
debt and 96% of the equity in the reorganized company;

  -- Holders of the Company's second lien debt will receive their
pro rata share of approximately 4% of the equity in the reorganized
company, as well as warrants that will provide them with the
opportunity to purchase up to 15% of the equity in the reorganized
company at various price thresholds based on first lien debt
holders achieving certain recovery levels; and

  -- Holders of general unsecured claims, including vendors,
suppliers and other trade creditors, will receive payment in full
in the ordinary course of business.

John Frederick, Skillsoft's Chief Administrative Officer, said,
"[Sund]day's announcement marks an important step forward in
significantly strengthening Skillsoft's capital structure and
positioning the Company for long-term success. This is an exciting
time for digital learning, and Skillsoft provides best-in-class
learning solutions to thousands of customers around the world,
including 65 percent of companies in the Fortune 500. While our
core business remains strong, with attractive profitability and
cash flow characteristics, our debt levels are too high. We need to
invest further and that requires our debt levels to come down to
free up cash to further enhance our offerings. We look forward to
benefitting from a stronger balance sheet and enhanced financial
flexibility as we continue investing in new products, solutions and
content to drive value for our customers and growth in the
business. We appreciate the broad support of our lenders, who will
become the new owners of the Company and recognize the inherent
value in the Skillsoft brand. We also thank the entire Skillsoft
team for their ongoing hard work and commitment to our company and
our customers and are grateful to our vendors and business partners
for their continued support."

To efficiently implement the Restructuring, Skillsoft and certain
of its affiliates have voluntarily filed "pre-packaged" Chapter 11
cases in the U.S. Bankruptcy Court for the District of Delaware.
The Company anticipates commencing ancillary proceedings in Canada
under the Companies' Creditors Arrangement Act (CCAA) seeking
recognition of the U.S. Chapter 11 proceedings in Canada. Skillsoft
intends to move through this process as quickly and efficiently as
possible and, pursuant to the terms of the RSA, anticipates
emerging from Chapter 11 on an expedited basis.

Skillsoft is operating as normal and expects to continue operating
in the normal course during and following the restructuring
process, without material disruption to its vendors, partners, or
employees. In conjunction with the court-supervised process,
Skillsoft has received a commitment for $60 million in
debtor-in-possession ("DIP") financing from certain of its first
lien lenders. Following court approval, this financing, together
with cash generated from ongoing operations, is expected to provide
ample liquidity to support the Company during the restructuring
process.

Certain of the Company's first lien lenders have also committed to
provide the Company with additional liquidity upon exit from the
restructuring process in the form of a $110 million exit facility,
less any amounts outstanding under the DIP financing, which will be
rolled into the exit facility upon emergence. The Company expects
to have liquidity of approximately $50 million upon completion of
the restructuring process, with leverage at approximately 3.5x net
debt-to-LTM EBITDA.

The Company remains focused on providing customers with
state-of-the-art corporate learning solutions, best-in-class
performance support resources and Live events. The Company noted
that there are no planned changes to Skillsoft's leadership team or
organizational structure as a result of the Restructuring.

Skillsoft has filed a number of customary first day motions with
the court seeking approval to operate its business in the normal
course during the court-supervised process, including the continued
payment of employee wages and benefits without interruption. The
Company expects to receive court approval for these requests.

Additional information regarding the Company's court-supervised
process is available on Skillsoft's restructuring website,
www.AdvancingSkillsoft.com. Court filings and other information
related to the proceedings are available on a separate website
administrated by the Company's claims agent, KCC, at
www.kccllc.net/skillsoft, or by calling KCC toll-free at
877-709-4752, or 424-236-7232 for calls originating outside of the
U.S.

Weil, Gotshal & Manges LLP is serving as legal counsel to
Skillsoft, Houlihan Lokey Capital, Inc. is serving as investment
banker, and AlixPartners LLP is serving as financial advisor.

                  About Skillsoft and SumTotal

Skillsoft -- http://www.skillsoft.com-- delivers online learning,
training, and talent solutions to help organizations unleash their
edge. Leveraging immersive, engaging content, Skillsoft enables
organizations to unlock the potential in their best assets -- their
people -- and build teams with the skills they need for success.
Empowering 36 million learners and counting, Skillsoft
democratizes learning through an intelligent learning experience
and a customized, learner-centric approach to skills development
with resources for Leadership Development, Business Skills,
Technology & Development, Digital Transformation, and Compliance.

SumTotal provides a unified, comprehensive Learning and Talent
Development suite that delivers measurable impact across the entire
employee lifecycle. With SumTotal, organizations can build a
culture of learning that is critical to growth, success, and
business sustainability. SumTotal's award-winning technology
provides talent acquisition, onboarding, learning management, and
talent management solutions across some of the most innovative,
complex and highly regulated industries, including technology,
airlines, financial services, healthcare, manufacturing, and
pharmaceuticals.

Skillsoft and SumTotal are partners to thousands of leading global
organizations, including many Fortune 500 companies. The company
features three award-winning systems that support learning,
performance and success: Skillsoft learning content, the Percipio
intelligent learning experience platform, and the SumTotal suite
for Talent Development, which offers measurable impact across the
entire employee lifecycle.



SLANDY INC: Gets Approval to Hire LDL Firm as Special Counsel
-------------------------------------------------------------
Slandy, Inc. received approval from the U.S. Bankruptcy Court for
the Middle District of Florida to hire LDL Firm, Law Office of
Dunsford, LLC as its special counsel.

LDL Firm will handle all healthcare-related matters for Debtor.
The firm's attorneys and paralegals will be paid at hourly rates as
follows:

   Attorneys      $200 to $525 per hour
   Paralegals     $75 to $150 per hour

LDL Firm has requested a $5,000 retainer.

The firm can be reached through:

     Tina Dunsford Esq.
     LDL Firm, Law Office of Dunsford, LLC
     400 N. Ashley Dr.  Ste. 1900
     Tampa FL 33602
     Phone: (813) 517-1661
     Fax: (813) 517-1668

                         About Slandy Inc.

Slandy, Inc. (doing business as Executive Care) provides a full
range of in-home care services to clients who reside in a hospital,
assisted living or skilled nursing facility that may need extra
personal attention.  These home care services can range from
companion care and personal care to 24/7 and Live-In care.  For
more information, visit
https://north-pinellas.executivehomecare.com/

Slandy filed a voluntary petition under Chapter 11 of the
Bankruptcy Code (Bankr. M.D. Fla. Case No. 19-11554) on Dec. 6,
2019.  In the petition signed by Slandy President Andrew E.
Corbett, Debtor disclosed $193,351 in assets and $1,041,442 in
liabilities.  

Debtor tapped Buddy D. Ford, P.A. as bankruptcy counsel; LDL Firm,
Law Office of Dunsford, LLC as special counsel; and Jones & Company
CPAs, P.A. as accountant.


SLIDEBELTS INC: Credit Union Objects to Disclosure Statement
------------------------------------------------------------
Creditor First U.S. Community Credit Union objects to the
disclosure statement proposed by debtor SlideBelts, Inc.

Credit Union contends that the Disclosure Statement contains errors
and it does not provide adequate information regarding the Debtor.
Creditor submits that the disclosure statement does not comply with
11 U.S.C. § 1125(a).

Credit Union claims that the disclosure does not list all of the
funds and loans obtained by the Debtor prior to filing. It does not
sufficiently explain how after obtaining all of those funds, it
accrued over $6.2 million in unsecured debt.

Credit Union asserts that the disclosure statement lacks sufficient
information to support the projections and to establish how the
Debtor will generate funds to make future payments to its
creditors, let alone make a profit.

The Credit Union is unable to determine whether the officers
salaries are included in item 12 or are accrued unpaid salaries.
There is no listing on the Wells Fargo bank statement of payments
to any individuals. There is a lump sum payment to Gusto.net but no
itemization of the distribution to Gusto.net.

Credit Union respectfully requests that the Court disapprove the
disclosure statement on the grounds that the proposed disclosure
statement fails to provide adequate information as required by 11
U.S.C. § 1125(a)(1) and the plan is not confirmable.

A full-text copy of Credit Union's objection dated May 19, 2020, is
available at https://tinyurl.com/ycw6sjla from PacerMonitor at no
charge.  

Attorney for Creditor First U.S. Community:

         Roxanne T. Daneri
         ROXANNE T. DANERI, P.C.
         455 University Avenue, Suite 220
         Sacramento, California 95825
         Telephone (916) 564-6222
         Facsimile (916) 564-6252
         E-mail: rdaneri@sbcglobal.net

                     About SlideBelts Inc.

SlideBelts Inc., which conducts business under the name SlideBelts
and SlideBelts by Brig Taylor, is an e-commerce apparel and
emerging wearable technology company offering products such as
leather belts, canvas belts, hats and fingerless gloves.  Its
products are available on http://www.slidebelts.com/,Amazon, eBay
and in select retail shops.

SlideBelts filed a Chapter 11 petition (Bankr. E.D. Cal. Case No.
19-25064) on Aug. 12, 2019 in Sacramento, Calif.  In the petition
signed by Brig Taylor, president and chief executive officer, the
Debtor disclosed $5,181,151 in total assets and $7,115,000 in total
liabilities.  

Judge Fredrick E. Clement oversees the case.

The Debtor tapped Parsons Behle & Latimer as its legal counsel, and
Knobbe, Martens, Olson & Bear, LLP as its special counsel for
intellectual property issues.


SPEEDWAY MOTORSPORTS: S&P Lowers ICR to 'BB-' on COVID-19 Impact
----------------------------------------------------------------
S&P Global Ratings lowered the issuer credit rating on Speedway
Motorsports LLC to 'BB-' from 'BB+'. S&P also lowered the
issue-level rating on the company's senior secured debt to 'BB+'
from 'BBB-', which benefits from very high recovery prospects in a
default scenario.

In addition, S&P is lowering the issue-level rating on the senior
unsecured notes to 'BB-' from 'BB+'.

The two-notch downgrade reflects significant anticipated stress on
revenue and cash flows, sustaining leverage well above S&P's 3x
downgrade threshold at the previous 'BB+' rating through 2021, even
assuming a partial recovery of live attendance revenue. Speedway
ended 2019 with adjusted debt to EBITDA in the high-2x area, which
was already weak for the previous 'BB+' rating. S&P's updated
forecast is for adjusted debt to EBITDA to spike in 2020 primarily
because admissions revenue will decline significantly as long as
consumers are not allowed to gather or are not confident they can
do so safely. Event-related revenue, mostly attributable to
sponsorships, advertising income, and food and beverage sales,
partly relies on live attendance." Some race tracks are closed to
the public and some race locations will be changed to accommodate
NASCAR's schedule realignment. The recession also will likely
pressure admissions and event-related revenue to the extent
unemployment remains high and corporate marketing spending is
impaired.

Over the coming quarters and in accordance with states' social
distancing guidelines, Speedway and NASCAR may ramp up limited live
attendance, leading to a partial recovery in 2021. S&P expects
broadcasting revenue to partly mitigate lower admissions and
event-related revenue in 2020, as long as the realigned race
schedule is delivered. S&P believes Speedway's margin could
significantly decline in 2020 because costs may not be reduced as
quickly as revenue falls if the company attempts to preserve a
portion of direct labor and corporate staff. The result is a
significant spike in leverage in 2020.

S&P assumes a partial recovery in 2021 and adjusted debt to EBITDA
could improve to the 4x-5x range. Its base case for 2021
incorporates a lingering impact from social distancing measures and
the economic downturn, with only a partial recovery of admissions
revenue compared to 2019, a partial recovery in event-related and
other revenue driven by a return of food and beverage sales and an
increase in sponsorships, and growth in broadcasting revenue. S&P
also believes EBITDA margin will improve in 2021 because of
positive operating leverage and greater visibility regarding the
sustainable level of admissions revenue, which will enable Speedway
to adjust its cost structure.

Key risk factors over the coming quarters include a slower recovery
in admissions and event-related revenue than S&P's forecast, which
could occur if coronavirus containment is not sufficiently achieved
in the regions where races are held, there is a second wave of the
pandemic, or the economy does not support attendance at live
events.

S&P assumes rescheduled races are held and broadcasting revenue
increases in line with contract terms through 2021. Through NASCAR,
Speedway has a 10-year broadcast media rights agreement for three
national touring series with NBC Sports Group and Fox Sports Media
Group through the 2024 season. The agreement provides Speedway with
contractual broadcasting revenue and annual escalators. This
stable, high-margin revenue source will account for the majority of
total revenue annually through 2021. Speedway and NASCAR modified
and realigned race schedules and track locations to enable
compliance with local social distancing regulations among athletes
and personnel. In May, NASCAR restarted races without live
audiences, accelerating them to closely match the number of races
planned before the coronavirus outbreak. Motorsports are
potentially more conducive to social distancing than other sports
that require closer physical contact between athletes, giving S&P
confidence that a realigned race schedule could be successful. S&P
understands that as long as NASCAR races are held, Speedway's
broadcasting revenue in 2020 would not be affected and would
continue to increase as a result of the annual escalator.

S&P believes Speedway's liquidity will be adequate through 2021.
Based on forecast sources and uses of liquidity, S&P estimates
Speedway has more than 24 months of liquidity. Speedway has stated
that its monthly cash use in a conservative scenario, which
includes retaining staff without event admissions, would be $10
million-$11 million. Incorporating the $95 million cash and
equivalents on the balance sheet at the end of the first quarter,
the $45 million revolver draw in April 2020, contracted
broadcasting revenue assuming all rescheduled races are held, and
other revenues, Speedway would have adequate liquidity as long as
racing is not disrupted again. Liquidity also benefits from reduced
capital expenditures (capex) and the absence of a dividend, which
was paid in previous years when the company was publicly traded.
S&P believes Speedway can comply with its covenants over the coming
quarters or obtain a waiver, if needed.

The outlook is negative because S&P could lower the rating if
coronavirus containment is not achieved and revenue does not begin
to partially recover in the second half of 2020 and in line with
the rating agency's base-case assumptions in 2021, sustaining
leverage above 5x.

"We could lower the rating if we believe Speedway will sustain
adjusted debt to EBITDA above 5x and EBITDA coverage of interest
expense below 3x. Such a scenario would likely be the result of a
slower recovery through 2021 than we assume, leading to an
inability to conduct the realigned NASCAR race schedule, lower
admissions revenue and event-related revenue, or continued EBITDA
margin pressure," S&P said.

"We could revise the outlook to stable if revenue and EBITDA
recover as we assume, increasing our confidence that leverage would
be sustained below 5x and EBITDA coverage of interest above 3x,"
the rating agency said.


STAGE STORES: Unsecured Creditors to Have Less Than 1% Recovery
---------------------------------------------------------------
Debtors Stage Stores, Inc., and Specialty Retailers, Inc., filed
with the U.S. Bankruptcy Court for the Southern District of Texas,
Houston Division, a Joint Chapter 11 Plan and a Disclosure
Statement on May 21, 2020.

Under the Plan, the remaining assets of the Debtors will be
distributed to creditors in accordance with the waterfall priority
payment scheme.  The Plan Administrator will take over as of the
Effective Date and oversee the distributions under the Plan.
Notably, the Plan contains certain releases for the Debtors and
certain third-parties, as well as exculpation provisions.

Class 4 General Unsecured Claims are projected to recover less than
1%.  On the Effective Date, each Holder of an Allowed General
Unsecured Claim shall receive its Pro Rata share of the 'General
Unsecured Claims Recovery' until paid in full.

Each Allowed Existing Interest in Class 7 will be canceled,
released, and extinguished, and will be of no further force or
effect and no Holder of Existing Interests shall be entitled to any
recovery or distribution under the Plan on account of such
Interests.

The Wind-Down Debtors, through the Plan Administrator, will fund
distributions under the Plan with Cash available on the Effective
Date by or for the benefit of the Debtors or Wind-Down Debtors,
including the remaining proceeds of any Sales after giving effect
to the Wind Down, and the proceeds of any non-Cash assets held by
the Wind-Down Debtors. The Debtors have also offered to grant
certain releases to Holders of Claims that vote to accept or do not
object to the Plan.

The projected amount of Allowed General Unsecured Claims set forth
herein is subject to change and reflects the Debtors' current view
on potential rejection damages.  Any change in the number,
identity, or timing of actual rejected Executory Contracts and
Unexpired Leases could have a material impact on the amount of
Allowed General Unsecured Claims. To the extent that the actual
amount of rejection damages Claims changes, the value of recoveries
to Holders of Allowed General Unsecured Claims could change as
well, and such changes could be material.

On the Effective Date, to the extent not inconsistent with the Sale
Transaction (if any), the applicable Debtors or the Wind-Down
Debtors shall enter into any transaction and will take any actions
as may be necessary or appropriate to effect the transactions
described in the Plan, including, as applicable, consummation of
the Sale Transaction (if any), the issuance of all securities,
notes, instruments, certificates, and other documents required to
be issued pursuant to the Plan, one or more intercompany mergers,
consolidations, amalgamations, arrangements, continuances,
restructurings, conversions, dispositions, dissolutions, transfers,
liquidations, spinoffs, intercompany sales, purchases, or other
corporate transactions (collectively, the  Restructuring
Transactions).

The Plan Administrator and/or the Wind-Down Debtors will fund
distributions under the Plan with Cash held on the Effective Date
by or for the benefit of the Debtors or Wind-Down Debtors,
including any proceeds of any Restructuring or Sale Transaction
after giving effect to the Wind Down contemplated by the Wind-Down
Order, and the proceeds of any non-Cash assets held by the
Wind-Down Debtors.

Any Cause of Action not settled, released, enjoined or exculpated
under Article VIII of the Plan on or prior to the Effective Date
shall vest in the Wind-Down Debtors and shall be subject to
administration by the Plan Administrator.  The Debtors have also
offered to grant certain releases to Holder of Claims that vote to
accept or do not object to the Plan.

A full-text copy of the Disclosure Statement dated May 21, 2020, is
available at https://tinyurl.com/y8a2zuk8 from PacerMonitor at no
charge.

Proposed Co-Counsel to the Debtors:

         JACKSON WALKER L.L.P.
         Matthew D. Cavenaugh
         Jennifer F. Wertz
         Kristhy M. Peguero
         Veronica A. Polnick
         1401 McKinney Street, Suite 1900
         Houston, Texas 77010
         Telephone: (713) 752-4200
         Facsimile: (713) 752-422
         E-mail: mcavenaugh@jw.com
                 jwertz@jw.com
                 kpeguero@jw.com
                 vpolnick@jw.com

              - and -

         KIRKLAND & ELLIS LLP
         KIRKLAND & ELLIS INTERNATIONAL LLP
         Joshua A. Sussberg, P.C.
         Neil E. Herman
         601 Lexington Avenue
         New York, New York 10022
         Telephone: (212) 446-4800
         Facsimile: (212) 446-4900
         E-mail: joshua.sussberg@kirkland.com
                neil.herman@kirkland.com

              - and -

         Joshua M. Altman
         300 North LaSalle Street
         Chicago, Illinois 60654
         Telephone: (312) 862-2000
         Facsimile: (312) 862-2200
         E-mail: josh.altman@kirkland.com

                      About Stage Stores Inc.

Stage Stores, Inc. (SSI) and its affiliates
--http://www.stagestoresinc.com/-- are apparel, accessories,
cosmetics, footwear, and home goods retailers that operate
department stores under the Bealls, Goody's, Palais Royal, Peebles,
and Stage brands and off-price stores under the Gordmans brand.
Stage Stores operates approximately 700 stores across 42 states.
Stage's department stores predominately serve small towns and rural
communities, and its off-price stores are mostly located in
mid-sized Midwest markets.

Stage Stores, Inc. and affiliate Specialty Retailers, Inc., sought
Chapter 11 protection (Bankr. S.D. Tex. Lead Case No. 20-32564) on
May 10, 2020.

The Company disclosed $1,713,713,000 of total assets and
$1,010,210,000 of total debt as of Nov. 2, 2019:

The Hon. David R. Jones is the case judge.

The Debtors tapped KIRKLAND & ELLIS LLP as bankruptcy counsel;
JACKSON WALKER L.L.P. as local bankruptcy counsel; PJ SOLOMON,
L.P., is investment banker; BERKELEY RESEARCH GROUP, LLC as
restructuring advisor; and A&G REALTY as real estate consultant.
GORDON BROTHERS RETAIL PARTNERS, LLC, will manage the Company's
inventory clearance sales.  KURTZMAN CARSON CONSULTANTS LLC is the
claims agent.

                         *     *     *

On May 11, 2020, the Company (NYSE: SSI) was notified by the New
York Stock Exchange that the staff of NYSE Regulation, Inc., has
determined to commence proceedings to delist the common shares of
the Company from the NYSE.  Trading of the Company's common shares
was suspended immediately.


SUNEX INTERNATIONAL: July 9 Disclosure Statement Hearing Set
------------------------------------------------------------
On April 23, 2020, debtor Sunex International, Inc., filed with the
U.S. Bankruptcy Court for the Southern District of Florida, Fort
Lauderdale Division, a Plan of Liquidation and a Disclosure
Statement.

On May 21, 2020, Judge Paul G. Hyman, Jr. ordered that:

   * July 9, 2020, at 9:00 a.m. in the United States Courthouse,
299 E. Broward Boulevard, Courtroom 301, Fort Lauderdale, Florida
33301 is the hearing to consider approval of the Disclosure
Statement.

   * June 8, 2020, is the deadline for service of order, disclosure
statement and plan.

   * July 2, 2020, is the deadline for objections to disclosure
statement.

A copy of the order dated May 21, 2020, is available at
https://tinyurl.com/y939yksq from PacerMonitor at no charge.

The Debtor is represented by:

         Michael D. Seese, Esq.
         101 N.E. 3rd Avenue, Suite 1270
         Ft. Lauderdale, FL 33301
         Tel. (954) 745-5897

                 About Sunex International

Founded in 1985, Sunex International --http://www.sunexintl.com/--
is a supplier of architectural products and complete turn-key
building materials for builders, architects, and designers
throughout the Caribbean and South Florida.

Pompano Beach, Fla.-based Sunex International, Inc., filed a
Chapter 11 petition (Bankr. S.D. Fla. Case No. 19-14372) on April
3, 2019.  At the time of the filing, the Debtor was estimated to
have assets of between $1 million and $10 million and liabilities
of the same range.  Judge Raymond B. Ray oversees the case.
Michael D. Seese, Esq., at Seese P.A., is the Debtor's bankruptcy
counsel.


TAILORED BRANDS: Q1 Net Sales Down 60.4% Due to COVID-19 Pandemic
-----------------------------------------------------------------
Tailored Brands, Inc., provided a business update and announced
select preliminary financial metrics for the first quarter ended
May 2, 2020.  These preliminary financial metrics are subject to
the completion of the Company's standard disclosure processes and
internal control procedures in connection with its preparation of
the quarterly financial statements.  Due to the significant
business disruption caused by the COVID-19 pandemic, and the
subsequent impact on the financial statement preparation and
reporting process, the Company has requested a 45-day extension to
file its Form 10-Q for the first quarter of fiscal 2020.

The Company reported total retail comparable sales up 2.4% and all
brands positive in February.  However, in response to the COVID-19
pandemic and in order to ensure the safety and well-being of
employees and customers, on March 17th, Tailored Brands closed all
stores and on March 20th it closed all e-commerce fulfillment
centers in the U.S. and Canada.  The Company's e-commerce
fulfillment centers reopened March 31st and total first quarter
e-commerce sales, including rental services, were down 31.9% versus
the first quarter of last year.  From March 17th through the end of
the first quarter, all stores remained closed. Given that store
sales represent the vast majority of total net sales, this
represented a significant drag on total first quarter net sales,
which were down 60.4% versus the first quarter of last year.

The Company took decisive actions to manage its cash position and
reduce cash outflows in the face of store closures and the
deteriorating economic environment caused by the COVID-19 pandemic
as follows:

   * Accessed $310 million of additional borrowings from its
     credit facility

   * Took aggressive actions to reduce and defer operating
     expenses, capital expenditures and inventory purchases

   * Extended payment terms with suppliers, vendors, and
     landlords

   * Implemented temporary base salary reductions for officers
     and employees with a salary of $100,000 or more ranging from
     10% to 50%, and reduced the Board of Directors cash retainer
     fees by 50%

   * Furloughed or temporarily laid off all of its store
     employees, most of its distribution network employees and
     the majority of its corporate staff (while paying both the
     Company and employee portions of health premiums for
     medical, dental and vision for affected employees).

In addition, the Company expects to benefit from the Coronavirus
Aid Relief and Economic Security (CARES) Act through net operating
loss carrybacks, increased deductions associated with interest
expense and enhanced fixed asset deductibility, payroll tax
credits, and other beneficial provisions.

Tailored Brands President and CEO Dinesh Lathi said, "The impact of
the COVID-19 pandemic is truly unprecedented.  I am extremely proud
of our leadership and teams for rising to the occasion by quickly
and decisively taking measures to protect the health, safety and
welfare of our employees, customers and the communities we serve,
as well as managing our liquidity.  While many of these actions
were difficult, such as furloughing/temporarily laying off more
than 95% of our employees and implementing salary reductions, they
were necessary given the impact of the disruptions from the
COVID-19 pandemic on our business.  I want to thank all of our
partners - suppliers, vendors, landlords, and ABL lenders - for
their support and collaboration through this challenging period."

Business Update

   * On May 7th the Company began to open stores in the U.S. and
     Canada with enhanced safety protocols, and had 634 stores
     open as of June 5th.

   * The Company noted that it is too early to determine steady-
     state comparable store sales for the second quarter but
     wanted to provide an update on recent performance.  For the
     week ended June 5th, for stores open at least one week, the
     average comparable sales performance was:

       - Men's Wearhouse down about 65%,

       - Jos. A. Bank down about 78%, and

       - K&G down about 40%.

   * For the second quarter-to-date through June 5th, total
     e-commerce sales, including rental services, are down about
     32%.

   * In the second quarter of fiscal 2020, the Company sold one
     distribution center and one owned store for total net
     proceeds of $13.4 million.

   * The Company will continue its efforts to manage its
     liquidity during this phased reopening process.  As of
     June 5, 2020, cash and cash equivalents were $201.3 million,
     excluding $93.5 million of restricted cash.

Lathi added, "The casualization, e-commerce and digital marketing
trends we identified in our business have accelerated due to the
COVID-19 pandemic and we are pleased to have already made progress
transforming our business to address these trends.  While it's
still early and the operating environment remains highly uncertain,
we anticipate sales will rebuild gradually during the remainder of
the year.  We are planning the business conservatively and will
continue to operate with discipline to preserve our liquidity as we
navigate this uncertain environment."

Select Preliminary First Quarter Fiscal 2020 Financial Metrics

The following commentary reflects results from the Company's
continuing operations.  As a reminder, the results of the corporate
apparel business that was sold in 2019 are treated as discontinued
operations.

Net Sales

The Company reported net sales down 60.4% to $286.7 million,
reflecting the impact of the COVID-19 pandemic.

Gross Margin

On both a GAAP and adjusted basis, gross margin was $29.7 million.
As a percent of sales, gross margin was 10.4%. Excluding occupancy
costs, gross margin was $130.8 million, or 45.6% of sales, down
from 56.4% last year on an adjusted basis, primarily reflecting a
lower mix of rental product versus clothing sales, procurement and
distribution cost deleverage, lower alterations margin and lower
clothing selling margin.

Advertising Expense

Advertising expense decreased $21.9 million to $22.7 million,
primarily reflecting the Company's actions to reduce expenses in
response to the COVID-19 pandemic.

Selling, General and Administrative Expenses

On a GAAP basis, SG&A was $157.7 million.  On an adjusted basis,
SG&A was $151.7 million, down $75.3 million, primarily reflecting
employee furloughs/temporary layoffs, and temporary store and
office closures.  As a percent of sales, adjusted SG&A was 52.9%
compared to 31.3% last year due to deleverage on lower net sales.

Goodwill, Intangible Asset and Long-Lived Asset Impairment Charges

The Company has not completed its procedures related to the
impairment analysis for goodwill, intangible assets and certain
other long-lived assets.  However, based on its preliminary
assessment, the Company currently expects to record a non-cash
charge related to its goodwill, intangible and long-lived assets in
the range of $165 million to $200 million, subject to the
completion of the Company's standard disclosure processes and
internal control procedures in connection with its preparation of
the quarterly financial statements.

Balance Sheet Highlights

Cash and cash equivalents at the end of the first quarter of 2020
were $244.2 million, an increase of $231.2 million compared to the
first quarter of 2019, primarily due to our decision to draw down
$310.0 million on our ABL.

Per the provisions of the Company's term loan, the Company elected
to reinvest the proceeds from the sale of the Joseph Abboud
trademarks in its business over a 365-day period commencing on
March 4, 2020.  As a result, the net proceeds of the sale were
deposited in a separate account administered by the term loan agent
and are considered restricted cash, primarily available for
reimbursement of capital expenditures and rental product purchases.
As of May 2, 2020, the restricted cash balance totaled $94.5
million.

Total liquidity at the end of the first quarter of 2020 was $333.0
million, comprised of $244.2 million of cash and cash equivalents,
and $88.8 million of availability on our ABL Facility, which
provided a cushion of approximately $26.7 million and $39.1 million
above cash dominion and fixed charge coverage ratio thresholds,
respectively.  The Company's ABL Facility contains certain
provisions that permit the lenders to assume control of its cash
(commonly referred to as cash dominion) and that trigger a
financial maintenance covenant, in each case if availability falls
below various thresholds.  As of May 2, 2020, the cash dominion and
fixed charge coverage ratio thresholds were $62.1 million and $49.7
million, respectively.  Availability under the ABL Facility may
decrease in the event the agent under its ABL Facility imposes
reserves against its borrowing base.  The imposition of reserves
and reduction in its borrowing base may further limit the Company's
liquidity, potentially materially.  The Company will continue to
actively manage its liquidity and to engage with its lenders and
other stakeholders with respect to the same.

Total debt at the end of the first quarter of 2020 was
approximately $1.4 billion, up $273.9 million compared to the end
of the first quarter of 2019.  The Company ended the first quarter
of 2020 with $385.0 million of borrowings outstanding on our ABL.

Inventories decreased $33.3 million, or 4.3%, to $734.4 million at
the end of the first quarter of 2020 compared to the end of the
first quarter of 2019.

Form 10-Q Filing Extension

The Company will file its Quarterly Report on Form 10-Q for the
quarter ended May 2, 2020 no later than July 27, 2020, which is the
first business day following the 45-day extension period permitted
by the Securities and Exchange Commission's Order under Section 36
of the Securities Exchange Act of 1934 Modifying Exemptions From
the Reporting and Proxy Delivery Requirements for Public Companies
dated March 25, 2020.

A full-text copy of the press release is available for free at:

                       https://is.gd/Rc8hmM

                       About Tailored Brands

Tailored Brands, Inc., is an omni-channel specialty retailer of
menswear, including suits, formalwear and a broad selection of
polished and business casual offerings.  The Company delivers
personalized products and services through its convenient network
of over 1,400 stores in the United States and Canada as well as its
branded e-commerce websites at http://www.menswearhouse.com/and
http://www.josbank.com/ Its brands include Men's Wearhouse, Jos.
A. Bank, Moores Clothing for Men and K&G.

Tailored Brands reported a net loss of $82.28 million for the year
ended Feb. 1, 2020, compared to net earnings of $83.24 million for
the year ended Feb. 2, 2019.  As of Feb. 1, 2020, the Company had
$2.42 billion in total assets, $2.52 billion in total liabilities,
and a total shareholders' deficit of $98.31 million.

                           *   *   *

As reported by the TCR on March 27, 2020, S&P Global Ratings
lowered all ratings on Calif.-based specialty apparel retailer
Tailored Brands Inc., including its issuer credit rating to 'CCC+'
from 'B', reflecting its view of the company's capital structure as
unsustainable in light of substantially weakened earnings
prospects.


THREE DIAMOND: Trustee Hires Adam L. Rosen as Legal Counsel
-----------------------------------------------------------
Nat Wasserstein, the Subchapter V trustee appointed in the Chapter
11 cases of Three Diamond Diner Corp. and its affiliates, received
approval from the US Bankruptcy Court for the Southern District of
New York to hire Adam L. Rosen PLLC as his legal counsel.

The firm's services will include:

  -- investigating Debtors' assets and financial condition and the
operation of their business pursuant to Section 1106(a)(3) of the
Bankruptcy Code; and

  -- assisting Mr. Wasserstein in carrying out the duties of a
Subchapter V trustee pursuant to Section 1183(b) of the Bankruptcy
Code.

The firm's attorneys and paralegals will be paid at hourly rates as
follows:

     Adam Rosen, Esq.       $520
     Associate Attorneys    $200 to $300
     Paralegals             $120

Rosen Firm 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:

     Adam L. Rosen, Esq.
     Adam L. Rosen PLLC
     2-8 Haven Ave #220
     Port Washington, NY 11050
     Phone: +1 516-407-3756

                     About Three Diamond Diner

Three Diamond operates a diner known as "Mt. Kisco Diner" located
at 252 Main St., Mount Kisco, N.Y.

On March 10, 2020, Three Diamond Diner sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Case No.
20-22376), listing under $1 million in both assets and liabilities.
Judge Robert D. Drain oversees the case.  Morrison Tenenbaum, PLLC
is Debtor's legal counsel.

Nat Wasserstein is the Subchapter V trustee appointed in Debtors'
Chapter 11 cases.  He is represented by Adam L. Rosen, PLLC.


TRUEMETRICS: Seeks to Hire Jaurigue Law as Bankruptcy Counsel
-------------------------------------------------------------
Truemetrics seeks authority from the U.S. Bankruptcy Court for the
Central District of California to hire Jaurigue Law Group as its
bankruptcy counsel.

The firm's services will include:

     a. advising Debtor regarding matters of bankruptcy law and the
requirements of the Bankruptcy Code and Bankruptcy Rules relating
to the administration of its Chapter 11 case and the operation of
its estate;

     b. representing Debtor in court proceedings and hearings
involving matters of bankruptcy law;

     c. assisting Debtor in compliance with the requirements of the
Office of the United States Trustee;

     d. advising Debtor of its powers and duties in the continued
operation of its business and management of property of the
estate;

     e. assisting Debtor in the administration of the estate's
assets and liabilities;

     f. preparing legal documents;

     g. assisting in the collection of all accounts receivable and
other claims that Debtor may have and in resolving claims against
the estate;

     h. advising Debtor concerning the claims of secured and
unsecured creditors and the prosecution or defense of all actions;
and

     i. assisting Debtor in the preparation, negotiation and
implementation of its Chapter 11 plan of reorganization.

The firm's hourly rates are as follows:

     Michael Jaurigue, Shareholder        $550
     Ryan Stubbe, Associate Attorney      $375
     Liana Khachatourian, Law Clerk        $90
     Brigitte Molina, Law Clerk            $90
     Caroline Ovsepyan, Law Clerk          $90
     Kristina Fernandez, Law Clerk         $90

Michael Jaurigue, Esq., at Jaurigue Law, disclosed in court filings
that the firm is a "disinterested person" within the meaning of
Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Michael J. Jaurigue, Esq.
     Jaurigue Law Group
     300 W Glenoaks Blvd Suite 300
     Glendale, CA 91202
     Phone: 818-630-7280
     Email: info@jlglawyers.com

                         About Truemetrics

Truemetrics, a provider of Internet marketing service in Alhambra,
Calif., sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. C.D. Cal. Case No. 20-14672) on May 21, 2020.  At the time
of filing, Debtor had estimated assets of between $100,000 and
$500,000 and liabilities of between $500,000 and $1 million.
Jaurigue Law Group represents Debtor as legal counsel.


WILLOUGHBY ESTATES: Court Approves Disclosure Statement
-------------------------------------------------------
Judge Carla E. Craig of the U.S. Bankruptcy Court for the Eastern
District of New York has entered an order approving the Second
Amended Disclosure Statement filed by Debtor Willoughby Estates
LLC.

The Court finds that the Disclosure Statement meets the applicable
requirements of 11 U.S.C. Sec. 1125 and the Debtor having
established just cause for the relief granted.

A copy of the order dated May 21, 2020, is available at
https://tinyurl.com/ybt9jgvd from PacerMonitor at no charge.

                    About Willoughby Estates

Willoughby Estates LLC, a privately held company engaged in
activities related to real estate, sought protection under Chapter
11 of the Bankruptcy Code (Bankr. E.D.N.Y. Case No. 19-45886) on
Sept. 26, 2019.  At the time of the filing, the Debtor was
estimated to have assets of between $1 million and $10 million and
liabilities of the same range.  The case is assigned to Judge Carla
E. Craig.  Nutovic & Associates is the Debtor's counsel.


ZACHAIR LTD: Seeks to Hire Fraser Forbes as Real Estate Agent
-------------------------------------------------------------
Zachair, Ltd. seeks approval from the U.S. Bankruptcy Court for the
District of Maryland to employ Fraser Forbes Company LLC as its
real estate agent and broker.

Fraser Forbes will assist in the sale of a 423.45-acre real
property owned by Debtor in Prince George's County, Md.  The
property has been used as an airfield, which generates revenue for
Debtor through the rental of hanger and parking spaces for
aircraft.
  
The firm will get a 5 percent commission on the sales price.

Fraser Forbes 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:

     Richard O. Samit
     Fraser Forbes Company LLC
     7811 Montrose Road, Suite 500
     Potomac, MD 20854
     Phone: 703-790-9400
  
                        About Zachair Ltd.

Clinton, Md.-based Zachair, Ltd. was formed by Dr. Nabil Asterbadi
to acquire Hyde Field, an airport for commercial and general
aviation.  Hyde Field is located near Andrews Air Force Base,
National Harbor, Downtown Washington DC, and nearby Northern
Virginia.  It offers a 3000' lighted runway with a day and night
instrument approach.  For more information, visit
http://www.hydefield.com/

Zachair filed a Chapter 11 petition (Bankr. D. Md. Case No.
20-10691) on Jan. 17, 2020.  In the petition signed by Zachair
President Nabil J. Asterbadi, Debtor was estimated to have $10
million to $50 million in assets and $1 million to $10 million in
liabilities.  

Judge Thomas J. Catliota oversees the case.  Whiteford Taylor &
Preston, LLP is Debtor's legal counsel.


                            *********

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
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The TCR subscription rate is $975 for 6 months delivered via
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are $25 each.  For subscription information, contact Peter A.
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                   *** End of Transmission ***