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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

              Friday, July 3, 2020, Vol. 24, No. 184

                            Headlines

1934 BEDFORD LLC: Seeks to Hire 'Outside Responsible Officer'
ACADEMY OF STARRZ: Seeks to Hire Nelson M. Jones III as Counsel
ALL SORTS OF SERVICES: Seeks Approval to Hire Palmer Accounting
ALLERGAN INC: Egan-Jones Withdraws BB- Sr. Unsec. Ratings
AMKOR TECHNOLOGY: Egan-Jones Hikes LC Sr. Unsecured Rating to BB-

APPLETON HOLDINGS: Aug. 13 Video Trial on Sale of All Assets
AVINGER INC: L1 Capital Global Has 5.1% Stake as of June 23
BAP PROPERTIES: Case Summary & Unsecured Creditor
BIOLASE INC: Has $6.02M Comprehensive Loss for March 31 Quarter
BIOSTAGE INC: Extends Warrants Expiration Date to Sept. 30

BLINK CHARGING: March 31 Quarter Results Cast Going Concern Doubt
BOART LONGYEAR: S&P Raises ICR to 'CCC+'; Outlook Negative
BOOTS SMITH: Voluntary Chapter 11 Case Summary
BORDEN DAIRY: $110M Sale of All Assets New Dairy OpCo Approved
BOSS OYSTER: $1.6M Sale of Two Apalachicola Properties Approved

BRIGHT MOUNTAIN: Incurs $3.46 Million Net Loss in First Quarter
BROOKFIELD PROPERTY: Moody's Lowers CFR to Ba3, Outlook Negative
CALIFORNIA RESOURCES: S&P Lowers Long-Term ICR to 'D'
CARE NEW ENGLAND: S&P Cuts Bond Rating to B+; Rating Off Watch Neg.
CEC ENTERTAINMENT: King & Spalding Represents Noteholder Group

CERESOTA FUNDING: Voluntary Chapter 11 Case Summary
CHINOS HOLDINGS: Milbank, Tavenner Update on Term Lenders
CHISHOLM OIL: Paul Weiss, Richards Represent Chisolm Oil, Gastar
CIRQUE DU SOLEIL: Chapter 15 Case Summary
CONFORMIS INC: Needs More Financing to Remain as Going Concern

CORE MOLDING: Has $7.96M Net Income for Quarter Ended March 31
COVIA HOLDINGS: Moody's Cuts PDR to D-PD on Bankruptcy Filing
CPG INT'L: Moody's Raises CFR to B1, Outlook Stable
CREATIVE HAIRDRESSERS: Meyers Updates on Multiple Parties
CRYOLIFE INC: Moody's Hikes Rating on First Lien Loans to B1

DELUXE EXPRESS: Case Summary & 16 Unsecured Creditors
DENBURY RESOURCES: Moody's Cuts PDR to Ca-PD, Outlook Negative
DIAMOND OFFSHORE: Committee Hires Akin Gump as Legal Counsel
DIAMOND OFFSHORE: Committee Taps Berkeley as Financial Advisor
DIAMOND OFFSHORE: Committee Taps Perella as Investment Banker

DIAMOND OFFSHORE: Hires Deloitte & Touche as Independent Auditor
DRIVE SHACK: Effects of COVID-19 Pandemic Cast Going Concern Doubt
DRUMMOND INC: S&P Alters Outlook to Negative, Affirms 'BB' ICR
EAGLE ENERGY: Receiver's Sale of All of Vendor's US Assets Approved
EVOLUTIONARY GENOMICS: Has $242,000 Net Loss for March 31 Quarter

EXIDE HOLDINGS: July 17 Auction of Substantially All Assets Set
FCPR ACQUISITION: Trustee's Sale of Trucking Assets Finally Okayed
FLAVORS HOLDINGS: Moody's Withdraws Caa2 CFR Amid Whole Earth Deal
FLAVORS HOLDINGS: S&P Withdraws 'CCC' ICR on Debt Repayment
FORTERRA INC: S&P Rates New Senior Secured Notes 'B-'

FOUNDATIONS LEARNING: Seeks Approval to Hire Legal Counsel
FRANK INVESTMENTS: Hires Astor Weiss Kaplan as Special Counsel
FRANK INVESTMENTS: Hires Kapp Morrison as Real Estate Counsel
FRONTIER COMMUNICATIONS: Creditors' Committee Members Detail Claims
GAUCHO GROUP: Further Delays Form 10-Q Filing Due to COVID-19

GEORGIA CENTRAL: Case Summary & 5 Unsecured Creditors
GEORGIA DIRECT: $5K Sale of 2013 GMC Sierra Truck to Employee OK'd
GEVO INC: Insufficient Working Capital Casts Going Concern Doubt
GLOBAL EAGLE: Delays Filing of Form 10-Q Due to COVID-19 Pandemic
GOOD HEMP: Needs Adequate Capital to Continue as a Going Concern

GRAN TIERRA: Risk of Covenant Breaches Casts Going Concern Doubt
GUITAR CENTER: S&P Raises Senior Unsecured Notes Rating to 'C'
HARTMAN SHORT TERM: Weaver and Tidwell Raises Going Concern Doubt
HERTZ CORPORATION: Pachulski Represents Litigation Claimants
HERTZ GLOBAL: Management Discloses Substantial Going Concern Doubt

HOST HOTELS: Seeks Covenant Waiver to Remain as a Going Concern
II-VI INC: Moody's Hikes CFR to Ba3 on Debt Repayment
INSPIREMD INC: Expected Losses Cast Going Concern Doubt
IPSIDY INC: Incurs $3.8M Net Loss for the Quarter Ended March 31
iSHARES JP MORGAN: S&P Lowers Fund Credit Quality Rating to 'Bf'

J & R VALLEY: Hires Santiago Gonzalez as Accountant
J.C. PENNEY: Honigman Represents Mitchell Road, Mt. Pleasant
JAGUAR HEALTH: Amends A/R Purchase Agreement with Oasis Capital
JOSEPH A. BRENNICK: Hearing on Auction Sale of Properties Abated
KLAUSNER LUMBER: July 24 Auction of Substantially All Assets Set

LA MERCED: Opposition to OSP's Mortgage Property Sale Denied
LEADING LIFE: S&P Lowers Senior-Living Revenue Bonds Rating to 'D'
LEARNING CARE: Moody's Cuts CFR to Caa1, Outlook Negative
LSCS HOLDINGS: S&P Alters Outlook to Negative, Affirms 'B-' ICR
MACK-CALI REALTY: Fitch Lowers LT IDRs to BB-, Outlook Negative

MACY'S INC: Egan-Jones Lowers Sr. Unsecured Ratings to B-
MARIMED INC: Amends Promissory Note Issued to SYYM LLC
MARIMED INC: Posts $2.34 Million Net Loss in First Quarter
MCDERMOTT INT'L: Says Substantial Going Concern Doubt Exists
MFA FINANCIAL: Egan-Jones Lowers Senior Unsecured Ratings to BB-

MKJC AUTO GROUP: Hires Paul J. Solda as Special Counsel
NANO MAGIC: Posts $378K Net Loss in First Quarter
NATIONAL MARINA: Seeks to Hire Gallini Firm as Legal Counsel
NATIONAL MEDICAL: Hires Dilworth Paxson as Legal Counsel
NEIMAN MARCUS: Rosenberg, Haynes Represent Paramount, Solow

NEW ENTERPRISE STONE: S&P Affirms 'B' ICR; Outlook Negative
NORTH AMERICAN LIFTING: S&P Cuts ICR to 'D' on Missed Payments
NORTH TEXAS MARINA: Seeks to Hire Gallini Firm as Legal Counsel
NOVATION COMPANIES: Incurs $1.3M Net Loss for March 31 Quarter
NPC INT'L: Moody's Cuts PDR to D-PD on Chapter 11 Filing

NPC INTERNATIONAL: S&P Downgrades ICR to 'D' on Bankruptcy Filing
OFFSHORE MARINE: Proposes $5K Sale of Boat to Lefort
OPGEN INC: Needs Additional Capital to Remain as a Going Concern
PARKWAY VILLA: S&P Lowers 2017A-B Revenue Bonds Rating to 'B-'
PARLIAMENT PARTNERS: Voluntary Chapter 11 Case Summary

PAYAM NAWAB: $595K Sale of Ocean City Property to Espenshade Okayed
PLAYA HOTELS: Says Substantial Going Concern Doubt Exists
POWERTEAM SERVICES: S&P Affirms 'B-' Senior Secured Notes Rating
PROGRESS SOFTWARE: Egan-Jones Lowers Sr. Unsecured Ratings to BB+
PURDUE PHARMA: Akin Gump Updates Committee Members for 2nd time

QUARTER HOMES: Bonilla Buying Colby House for $215K
RECRUITER.COM GROUP: Salberg & Company Raises Going Concern Doubt
REISINGER HOLDINGS: Case Summary & 19 Unsecured Creditors
RENNOVA HEALTH: Further Delays Filing of Quarterly Report
RENNOVA HEALTH: Reports $171.9 Million Net Loss for 2019

RILEY J. BEARD: $328K Sale of Temple Hills Property to Benitez OK'd
RLJ LODGING: Needs Covenant Waivers to Remain as a Going Concern
ROBERT A. RYALS: June 30 Hearing on Clay County Property Sale
ROBERT A. RYALS: Selling Interest in Clay County Property for $15K
ROCHESTER DRUG: July 10 Auction of Assets Set

RUBIE'S COSTUME: Creditors' Committee Members Disclose Claims
S&S CRAFTSMEN: Seeks to Hire Freeman Goldis as Special Counsel
SCIENTIFIC GAMES: Successfully Completes Notes Offering
SHIFTPIXY INC: Reports $9.4M Net Income for Quarter Ended Feb. 29
SKILLSOFT CORPORATON: Milbank, Ashby Represent Crossholder Group

SOJOURNER-DOUGLASS: Trustee Hires Berkshire Hathaway as Broker
SOUTHEASTERN METAL: $5.6M Sale of Charlotte Property to BKT Okayed
STREBOR SPECIALTIES: $142K Sale of Equipment to Vapco Approved
STREBOR SPECIALTIES: $23K Sale of Supplies to MTN Enterprises OK'd
SUSTAINABLE RESTAURANT: July 10 Auction of All Assets Set

SYSOREX INC: March 31 Quarter Results Cast Going Concern Doubt
TANGO DELTA: Seeks to Hire Jem Management as Bookkeeper
TANGO DELTA: Seeks to Hire Vanderhoff Law as Special Counsel
TBH19 LLC: Seeks to Hire L M Ross as Special Litigation Counsel
TEMPLAR ENERGY: July 9 Auction of Substantially All Assets Set

TIARA TOWNHOMES: Stipulation With Jiang on Property Sale Approved
TOUCHPOINT GROUP: Posts $38K Net Loss in First Quarter
TRAVELERS REST: Case Summary & 20 Largest Unsecured Creditors
ULTRA PETROLEUM: Taps Deloitte to Provide Tax Services
UMATRIN HOLDING: Posts Net Profit of $397K in First Quarter

UNITED AIRLINES: Egan-Jones Lowers Senior Unsecured Ratings to B
VERIFONE SYSTEMS: S&P Affirms 'B-' ICR; Outlook Stable
VISITING NURSE: Stipulation With Atty. Gen. on Assets Sale Okayed
WILLSCOT MOBILE: S&P Raises ICR to BB-; Ratings Off Watch Positive
WINNEBAGO INDUSTRIES: S&P Alters Outlook to Stable, Affirms B+ ICR

XENIA HOTELS: Needs Covenant Waivers to Remain as a Going Concern
ZION OIL: History of Operating Losses Casts Going Concern Doubt
[^] BOOK REVIEW: Bankruptcy and Secured Lending in Cyberspace

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1934 BEDFORD LLC: Seeks to Hire 'Outside Responsible Officer'
-------------------------------------------------------------
1934 Bedford LLC seeks authority from the U.S. Bankruptcy Court for
the Eastern District of New York to employ an outside responsible
officer.

The Debtor has appointed Yann Geron to act as outside Responsible
Officer, assuming the role of estate fiduciary, duty-bound to
protect the interest of all creditors in regards to the sale of the
Property. Mr. Geron will have sole and exclusive decision-making
authority on all matters related to the sale of the Property, and
the Debtor has agreed to abide by Mr. Geron's decisions in this
regard. Mr. Geron would only assume responsibilities under this
appointment in the unlikely event that the expedited closing of the
sale of the Property does not occur as currently provided by
contract.

Services Mr. Geron will render are:

     (a) prosecute any failure of the Purchaser to complete the
sale of the Property pursuant to the Amended Contract, for the full
cash price contracted to be paid;

     (b) should the Purchaser fail to fulfill the requirements
under the Amended Contract, supervise the marketing of the Property
to identify one or more potential alternative purchasers, towards
the goal of negotiating and entering into a back-up sale agreement
to best assure a prompt sale transaction, most likely to yield the
Debtor with the maximum amount of cash consideration, including as
is necessary to pay in full all allowed claims, as well as disputed
claims that might become allowed, other than Mr. Von Lavrinoff's
claim;

     (c) engage a broker and negotiate, and seek the Court’s
approval of a brokerage agreement for the marketing of the
Property, should the current Purchaser fail to fulfill its
obligations under the Amended Contract on time and in full; and

     (d) prosecute all claims and causes of action to enforce the
Debtor's rights against the current Purchaser should it default
under the Amended Contract, as well as against any back-up
purchaser who may default under a
subsequent sale agreement.

Mr. Geron would charge the Estate at an hourly rate of $750, plus
expenses, plus a 0.5 percent success fee earned at closing and paid
at a closing brought about by Mr. Geron's efforts. Additionally,
the Debtor has agreed to pay Mr. Geron a retainer of $25,000 upon
entry of an order approving this application.

Mr. Geron assures the court that he is a "disinterested person" as
that term is defined in Sec 101(14) of the Bankruptcy Code, as
modified by Sec. 1107(b) of the Bankruptcy Code.

Mr. Geron can be reached at:

     Yann Geron
     885 Third Ave, 20th Floor
     New York, NY 10022
     Tel: (212)-209-3092
     Fax: (212)-371-5500
     Email: ygeron@reitlerlaw.com

                 About 1934 Bedford LLC

1934 Bedford LLC operates and develops a multi-unit building in
Brooklyn, New York.

An involuntary petition for relief under Chapter 11 of the
Bankruptcy Code was filed by creditors Simply Brooklyn Realty, HTC
Construction Management, Inc., HTC Plumbing, Inc. against Bedford
(Bankr. E.D.N.Y. Case No. 19-44751) on Aug. 2, 2019.  On Sept. 12,
2019, Bedford consented to the entry of an order for relief under
Chapter 11 of the Bankruptcy Code.

The creditors are represented by Rosenberg Musso & Weiner LLP.
Wayne Greenwald, P.C. is the Debtor's counsel.


ACADEMY OF STARRZ: Seeks to Hire Nelson M. Jones III as Counsel
---------------------------------------------------------------
The Academy of Starrz LLC seeks authority from the United States
Bankruptcy Court for the Southern District of Texas to employ the
Law Office of Nelson M. Jones III, as its counsel.

The Academy requires Nelson M. Jones III to:

     a. assist the Debtor with the resolution of all contested
claims;

     b. assist the Debtor with the proposing, prosecuting and
consummating the plan of reorganization;

     c. advise the Debtor with regard to any litigation matters
that exist or might arise prior to confirmation of the plan of
reorganization;

     d. prepare all appropriate pleadings to be filed in the
bankruptcy case; and

     e. perform any other legal services that may be appropriate in
connection with the reorganization case.

The firm's hourly fees are:

     Nelson Jones III, Esq.      $400
     Mona James, Esq.            $300
     Paralegal                $125 - $150

Nelson M. Jones III will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Nelson M. Jones III, a partner of the Law Office of Nelson M. Jones
III, assured the Court that the firm is a "disinterested person" as
the term is defined in Section 101(14) of the Bankruptcy Code and
does not represent any interest adverse to the Debtor and its
estates.

Nelson M. Jones III can be reached at:

     Nelson M. Jones III, Esq.
     LAW OFFICE OF NELSON M. JONES III
     440 Louisiana, Suite 1575
     Houston, TX 77002
     Tel: (713) 236-8736
     E-mail: Njoneslawfirm@aol.com

                     About The Academy of Starrz LLC

The Academy of Starrz LLC provides education programs for
children.

Based in Pearland, Texas, The Academy of Starrz LLC filed its
voluntary petition for relief under Chapter 11 of the Bankruptcy
Code (Bankr. S.D. Tex. Case No. 20-32881) on June 1, 2020. The
petition was signed by Priscilla Jean Motte, managing member. At
the time of filing, the Debtor estimated $1 million to $10 million
in both assets and liabilities. Nelson M. Jones III, Esq. at the
LAW OFFICE OF NELSON M. JONES III is the Debtor's counssel.


ALL SORTS OF SERVICES: Seeks Approval to Hire Palmer Accounting
---------------------------------------------------------------
All Sorts of Services of America, Inc., seeks approval from the
U.S. Bankruptcy Court for the Middle District of Florida to hire
Brian Palmer, CPA and Palmer Accounting Group, PA, as its
accountant.

Palmer will assist the Debtor and its bankruptcy counsel in
connection with issues arising in and relating to the Chapter 11
reorganization proceedings, which will include preparation and
filing of tax returns and amended tax returns required by all
taxing authorities involved in this case, assisting in evaluation
of various assets of the Debtor, and assistance in preparing
reports and other documents required as a result of these Chapter
11 proceedings.

Mr. Palmer will charge $150 per hour for his services, $100 per
hour for staff accountants and $75 per hour for his assistant.

Mr. Palmer assures the court that his firm does not represent any
interest adverse to the Debtors and their estates.

Mr. Palmer can be reached at:

     Brian Palmer, CPA
     Palmer Accounting Group, PA
     5652 Marquesas Cir
     Sarasota, FL 34233
     Phone: +1 941-922-4744

             About All Sorts of Services of America

Headquartered in Plymouth, Mich., All Sorts of Services of America,
Inc. provides masonry work, fireplace, and chimney services,
serving the entire Cleveland-Metro and Toledo, Ohio areas.  It
conducts business under the name Chimney Cricket.  For more
information, visit https://www.chimneycricket.com

All Sorts of Services of America sought protection under Chapter 11
of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 20-01953) on
March 5, 2020.  At the time of the filing, the Debtor had estimated
assets of between $100,000 and $500,000 and liabilities of between
$1 million and $10 million.  The Debtor is represented by Cole &
Cole Law, P.A.


ALLERGAN INC: Egan-Jones Withdraws BB- Sr. Unsec. Ratings
---------------------------------------------------------
Egan-Jones Ratings Company, on June 22, 2020, withdrew its 'BB-'
foreign currency and local currency senior unsecured ratings on
debt issued by Allergan Incorporated. EJR also withdrew its 'A3'
rating on LC commercial paper issued by the Company.

Headquartered in Irvine, California, Allergan, Incorporated of
United States provides pharmaceuticals products.



AMKOR TECHNOLOGY: Egan-Jones Hikes LC Sr. Unsecured Rating to BB-
-----------------------------------------------------------------
Egan-Jones Ratings Company, on June 22, 2020, upgraded the local
currency senior unsecured rating on debt issued by Amkor Technology
Inc. to BB- from B+.

Headquartered in Tempe, Arizona, Amkor Technology, Inc. provides
semiconductor packaging and test services.



APPLETON HOLDINGS: Aug. 13 Video Trial on Sale of All Assets
------------------------------------------------------------
Judge Karen S. Jennemann of the U.S. Bankruptcy Court for Middle
District of Florida has entered an order setting a trial by video
for Aug. 13, 2020 at 10:00 a.m. to consider the following matters
filed by Appleton Holdings, LLC: (i) the Debtor's Motion to Assume
Unexpired Lease of Nonresidential Real Property; (ii) the Debtor's
Motion to Extend Time to Assume or Reject Lease of Non-Residential
Real Property; (iii) Corrected Wells Fargo Bank, N.A., as
Trustee's, Limited Response to Debtor's Motion to Extend Time to
Assume or Reject Lease; and (iv) the Debtor's Motion to Approve
Sale of Substantially All of Debtor's Assets Free and Clear of
Liens, as Amended.

A hearing on the Motion was held on June 17, 2020.

The requirements and deadlines under Local Rules 7001-1 and 9070-1
apply to these contested matters.

The Court, by separate order, has established procedures for video
trials in the case.  

The Clerk is directed to serve a copy of the Order on all
interested parties.  

                      About Appleton Holdings

Appleton Holdings, LLC operates a Red Lion branded 390-room
convention and business class hotel located at 333 W. College Ave.,
Appleton, Wisc.  

Appleton Holdings sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. M.D. Fla. Case No. 19-04883) on July 25,
2019.  At the time of the filing, the Debtor was estimated to have
assets of between $10 million and $50 million and liabilities of
the same range.  Judge Karen S. Jennemann oversees the case.
Kenneth D. Herron, Jr., Esq., at Herron Hill Law Group, PLLC, is
the Debtor's legal counsel.


AVINGER INC: L1 Capital Global Has 5.1% Stake as of June 23
-----------------------------------------------------------
L1 Capital Global Opportunities Master Fund Ltd. disclosed in a
Schedule 13G filed with the Securities and Exchange Commission that
as of June 23, 2020, it beneficially owns 2,600,000 shares of
common stock of Avinger, Inc., which represents 5.1 percent  based
on 51,336,355 shares of Common Stock outstanding.

David Feldman and Joel Arber are the directors of L1 Capital Global
Opportunities Master Fund Ltd.  As such, L1 Capital Global
Opportunities Master Fund Ltd, Mr. Feldman and Mr. Arber may be
deemed to beneficially own (as that term is defined in Rule 13d-3
under the Securities Exchange Act of 1934) 2,600,000 shares of
Common Stock.  To the extent Mr. Feldman and Mr. Arber are deemed
to beneficially own such shares, Mr. Feldman and Mr. Arber disclaim
beneficial ownership of these securities for all other purposes.

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

                     https://is.gd/pQWpv1

                         About Avinger

Headquartered in Redwood City, California, Avinger --
http://www.avinger.com/-- is a commercial-stage medical device
company that designs and develops image-guided, catheter-based
system for the diagnosis and treatment of patients with Peripheral
Artery Disease (PAD).

Avinger reported a net loss applicable to common stockholders of
$23.03 million for the year ended Dec. 31, 2019, compared to a net
loss applicable to common stockholders of $35.69 million for the
year ended Dec. 31, 2018.  As of March 31, 2020, the Company had
$22.80 million in total assets, $18.39 million in total
liabilities, and $4.41 million in total stockholders' equity.

Moss Adams LLP, in San Francisco, California, the Company's auditor
since 2017, issued a "going concern" qualification in its report
dated March 5, 2020, citing that the Company's recurring losses
from operations and its need for additional capital raise
substantial doubt about its ability to continue as a going concern.


BAP PROPERTIES: Case Summary & Unsecured Creditor
-------------------------------------------------
Debtor: BAP Properties, LLC
        265 Happy Valley
        Pleasanton, CA 94566

Chapter 11 Petition Date: July 1, 2020

Court: United States Bankruptcy Court
       Northern District of California

Case No.: 20-41119

Judge: Hon. Roger L. Efremsky

Debtor's Counsel: Michael St. James, Esq.
                  ST. JAMES LAW, P.C.
                  22 Battery St.
                  Suite 888
                  San Francisco, CA 94111
                  Tel: 415-391-7566
                  EmaiL: michael@stjames-law.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Kuldeep Singh, member.

The Debtor listed Equity Trust fbo Arun Mohindra & Falcon as its
sole unsecured creditor holding a claim of $754,037.

The Debtor failed to include in the petition a list of its 20
largest unsecured creditors.

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

                     https://is.gd/hpo1ee


BIOLASE INC: Has $6.02M Comprehensive Loss for March 31 Quarter
---------------------------------------------------------------
BIOLASE, Inc. filed its quarterly report on Form 10-Q, disclosing a
comprehensive loss of $6,024,000 on $4,783,000 of net revenue for
the three months ended March 31, 2020, compared to a comprehensive
loss of $4,955,000 on $10,326,000 of net revenue for the same
period in 2019.

At March 31, 2020, the Company had total assets of $24,531,000,
total liabilities of $25,422,000, and $4,856,000 in total
stockholders' deficit.

The Company said, "We have reported recurring losses from
operations and have not generated cash from operations for the
three years ended December 31, 2019 and the three months ended
March 31, 2020.  Our level of cash used in operations, the need for
additional capital, and the uncertainties surrounding our ability
to raise additional capital, raise substantial doubt about our
ability to continue as a going concern.  As a result of reduced
sales due to the COVID-19 pandemic and actions taken to contain it,
cash generated from our operations during the first half of 2020
will be less than we anticipated.  There is no assurance that sales
will return to normal levels during the second quarter of 2020 or
at any time thereafter."

A copy of the Form 10-Q is available at:

                       https://is.gd/rsWywE

BIOLASE, Inc., together with its subsidiaries, develops,
manufactures, markets, and sells laser systems for dental
practitioners and their patients in the United States and
internationally. Its dental laser systems allow dentists,
periodontists, endodontists, oral surgeons, and other dental
specialists to perform a range of minimally invasive dental
procedures, such as cosmetic, restorative, and complex surgical
applications. The company offers Waterlase all-tissue dental laser
systems for cutting soft and hard tissues; diode laser systems to
perform soft tissue, hygiene, cosmetic procedures, and teeth
whitening, as well as to provide temporary pain relief; and Epic
Hygiene laser to manage non-surgical periodontitis and enhance
clinical production. It also manufactures and sells consumable
products and accessories for its laser systems, as well as markets
flexible fibers and hand pieces, and teeth whitening gel kits. The
company sells its products through its field sales force and
distributor network. The company was formerly known as BIOLASE
Technology, Inc. and changed its name to BIOLASE, Inc. in 2012.
BIOLASE, Inc. was founded in 1984 and is headquartered in Irvine,
California.



BIOSTAGE INC: Extends Warrants Expiration Date to Sept. 30
----------------------------------------------------------
Biostage, Inc., previously issued warrants to acquire shares of
common stock with an exercise price of $3.70 per share that were
immediately exercisable until June 30, 2020.  The Company has
extended the expiration date of such warrants to Sept. 30, 2020
pertaining to warrants exercisable for an aggregate of 497,878
shares of common stock.

                     About Biostage Inc.

Headquartered in Holliston, Massachusetts, Biostage --
http://www.biostage.com/-- is a bioengineering company that is  
developing next-generation esophageal implants.  The Company's
Cellspan technology combines a proprietary, biocompatible scaffold
with a patient's own cells to create an esophageal implant that
could potentially be used to treat pediatric esophageal atresia and
other conditions that affect the esophagus.  The Company's
esophageal implant leverages the body's inherent capacity to heal
itself as it is a "living tube" that facilitates regeneration of
esophageal tissue and triggers a positive host response resulting
in a tissue-engineered neo-conduit that restores continuity of the
esophagus.  These implants have the potential to dramatically
improve the quality of life for children and adults.

Biostage reported a net loss of $8.33 million for the year ended
Dec. 31, 2019, compared to a net loss of $7.53 million for the year
ended Dec. 31, 2018.  As of March 31, 2020, Biostage had $1.71
million in total assets, $1.07 million in total liabilities, and
$644,000 in total stockholders' equity.

RSM US LLP, in Boston, Massachusetts, the Company's auditor since
2018, issued a "going concern" qualification in its report dated
March 27, 2020 citing that the Company has suffered recurring
losses from operations, has an accumulated deficit, uses cash flows
in operations, and will require additional financing to continue to
fund operations.  This raises substantial doubt about the Company's
ability to continue as a going concern.


BLINK CHARGING: March 31 Quarter Results Cast Going Concern Doubt
-----------------------------------------------------------------
Blink Charging Co. filed its quarterly report on Form 10-Q,
disclosing a net loss of $2,961,100 on $1,298,864 of total revenues
for the three months ended March 31, 2020, compared to a net loss
of $1,893,627 on $577,390 of total revenues for the same period in
2019.

At March 31, 2020, the Company had total assets of $9,802,749,
total liabilities of $5,234,196, and $4,568,553 in total
stockholders' equity.

As of March 31, 2020, the Company had cash, marketable securities,
working capital and an accumulated deficit of $1,343,978,
$1,952,510, $2,158,590, and $172,466,081, respectively.  During the
three months ended March 31, 2020, the Company incurred a net loss
of $2,961,100.  During the three months ended March 31, 2020, the
Company used cash in operating activities of $3,413,141.  These
conditions raise substantial doubt about the Company's ability to
continue as a going concern within a year after the issuance date
of these financial statements.  The Company is currently funding
its operations on a month-to-month basis.  Since April 17, 2020 and
through May 12, 2020, the Company sold 87,505 shares of common
stock under an "at-the-market" equity offering program for
aggregate gross proceeds of approximately $150,000 and received
loan proceeds under the Paycheck Protection Program of
approximately $856,000.

A copy of the Form 10-Q is available at:

                       https://is.gd/NIHQS1

Blink Charging Co., through its subsidiaries, owns, operates, and
provides electric vehicle (EV) charging equipment and networked EV
charging services in the United States. The company was formerly
known as Car Charging Group, Inc. and changed its name to Blink
Charging Co. in August 2017. Blink Charging Co. was founded in 2009
and is headquartered in Miami Beach, Florida.



BOART LONGYEAR: S&P Raises ICR to 'CCC+'; Outlook Negative
----------------------------------------------------------
S&P Global Ratings raised the issuer credit rating on U.S.-based
drilling services provider and manufacturer Boart Longyear Ltd.
(BLY) to 'CCC+' from 'SD' after the company completed amending
interest payments on its senior secured notes to payment-in-kind
(PIK) from cash for 2020.

S&P also raised its issue-level rating on the company's senior
secured notes to 'CCC+' from 'D', with a '3' recovery rating. The
unsecured notes are rated 'CCC-', with a '6' recovery rating.

"We view BLY'S capital structure as unsustainable over the long
term given the increasing debt burden from cumulative
payment-in-kind interest and large upcoming debt maturities in
2022. While the recent interest payment amendment provides some
liquidity cushion in 2020, we believe the company is currently
vulnerable and depends on favorable business, financial, and
economic conditions such as increased capital spending in the
mining industry to meet its increasing debt obligations and
interest commitments," S&P said.

S&P expects BLY to maintain EBITDA interest coverage of about 1x
once it goes back to paying cash interest on the secured notes in
fiscal 2021. However, while a majority of the company's capital
structure is paying PIK interest, alleviating liquidity concerns in
the short term, it is causing debt to accrete more quickly. In
addition, all of BLY's debt is due between July and December 2022,
which indicates towards greater refinancing risk over the next
12-18 months.

"We believe that absent any material and sustained improvement in
BLY's financial performance, it will not be able to sustain its
current debt burden. A delayed recovery in market conditions and
continued weakness in the company's earnings and cash flows could
increase the liquidity risk over the next 12-24 months, leading to
a deterioration in coverage metrics and increasing the potential
for another distressed transaction or debt restructuring," S&P
said.

S&P expects credit metrics to remain weak, with elevated debt
leverage over the next 12-24 months due to market disruption from
COVID-19. The demand this year for BLY's products and services has
decreased as a result of reduced exploration activities driven by
COVID-19-related closures and customers delaying their project
spending under these uncertain market conditions. In response, the
company will cut nonessential operating and capital expenditures,
and continue to focus on cutting overhead costs to protect margins
and cash flows. S&P expects BLY's EBITDA to decline in 2020,
keeping leverage above 10x. It anticipates that exploration
spending levels will regain momentum over the long term. Low
drilling levels and substantial declines in exploration spending
over the past several years have contributed to declining global
reserve bases, in particular for gold. However, when a significant
recovery in drilling and exploration activity will occur is highly
uncertain due to the COVID-19 outbreak. Customers ramping up their
capital budgets would slowly prolong the company's weak operating
performance.

"The negative outlook reflects our view of a potential risk from a
prolonged decline in customer's mining and drilling activity and
slower-than-expected recovery, which could lead to further
liquidity pressure and leverage remaining above 10x ahead of the
large debt maturities in 2022, increasing the risk of another
distressed transaction," S&P said.

S&P could lower the rating if:

-- BLY's operational performance remains weak and the mining
activity does not recover in fiscal year 2021, such that it
generates high cash deficits that could lead to liquidity
shortfall, with EBITDA interest coverage being pushed well below
1x.

-- S&P anticipates another debt restructuring or distressed
transaction.

-- S&P could revise the outlook to stable if it expects material
improvement in BLY's deleveraging trajectory before the 2022 debt
maturities, resulting in improved prospects for a future potential
refinancing.


BOOTS SMITH: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: Boots Smith Completion Services, LLC
        301 Central Ave.
        Laurel, MS 39443

Business Description: Boots Smith Completion Services, LLC
                      is an oilfield service company, helping
                      oil and gas companies enhance production
                      through a variety of applications, including
                      completion, workover, and optimization.

Chapter 11 Petition Date: July 1, 2020

Court: United States Bankruptcy Court
       Southern District of Mississippi

Case No.: 20-51081

Debtor's Counsel: William J. Little, Jr., Esq.
                  LENTZ & LITTLE, P.A.
                  2505 14th St., Ste. 500
                  Gulfport, MS 39501
                  Tel: (228) 867-6050
                  E-mail: bill@lentzlittle.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $10 million to $50 million

The petition was signed by Jason Smith, manager.

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

                     https://is.gd/e79uRP


BORDEN DAIRY: $110M Sale of All Assets New Dairy OpCo Approved
--------------------------------------------------------------
Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the
District of Delaware authorized Borden Dairy Co. and its
debtor-affiliates to sell substantially all assets to New Dairy
OpCo, LLC for $110 million, plus all of the TLB Lenders' Adequate
Protection Liens and Claim, the assumption of the Assumed
Liabilities, and the assumption of the Cure Costs.

pursuant to their Asset Purchase Agreement, dated as of June 26,
2020.

The Debtors and their advisors conducted an auction pursuant to the
Bidding Procedures Order, which commenced on June 4 and concluded
on June 13, 2020.  The Sale Hearing was held on June 18, 2020.

Consideration of unresolved Cure Cost/Assignment Objections and
Post-Auction Objections relating to Contract assignment, unless
otherwise ordered by the Court or with the consent of the party to
any Contract that is subject to a Cure Cost/Assignment Objection or
Post-Auction Objection relating to Contract assignment, will be
adjourned to a date to be determined and agreed to by the Debtors
and the Buyer (but which will occur prior to July 18, 2020).

The Debtors are authorized to enter into the APA, the transactions
contemplated therein and all other Transaction Documents,
including, in each case, any amendments, supplements, and
modifications thereto and such documents and terms and conditions
thereof are approved in all respects.

The sale is free and clear of all Encumbrances (other than Assumed
Liabilities and Permitted Encumbrances) of any kind or nature
whatsoever.  Upon the Closing, the Buyer will take title to and
possession of the Assets subject only to the Assumed Liabilities
and the Permitted Encumbrances.

The Agent, the Lenders, the Buyer and the Debtors have agreed that,
at closing of the Sale, the Carve-Out will be replaced with a
deposit account to be established for the benefit of the Carve-Out
Professionals in an amount funded up to the Carve-Out Amount for
payment of Allowed Professional Fees subject to the Carve-Out Cap.


Pursuant to sections 105(a) and 365 of the Bankruptcy Code, the
Debtors' assumption and assignment to the Buyer, and the Buyer's
assumption on the terms set forth in the APA, of the Assigned
Contracts is approved.  The Debtors are authorized, in accordance
with sections 105(a), 363, and 365 of the Bankruptcy Code, to (a)
assume and assign to the Buyer, effective upon the Closing Date,
the Assigned Contracts free and clear of all Encumbrances and other
interests of any kind or nature whatsoever (other than the Assumed
Liabilities and Permitted Encumbrances), and (b) execute and
deliver to the Buyer such documents or other instruments as may be
necessary to assign and transfer the Assigned Contracts to the
Buyer.

Certain Texas taxing authorities represented by McCreary, Veselka,
Bragg & Allen, P.C. assert that certain ad valorem taxes on real
and business personal property are owed by certain of the Selling
Entities for tax years 2019 and 2020.  Certain Texas taxing
authorities represented by Linebarger Goggan Blair & Sampson, LLP
assert that certain ad valorem taxes on real and business personal
property are owed by certain of the Selling Entities for tax years
2006, 2007, 2008, 2016, and 2020.  Certain Texas taxing authorities
represented by Perdue, Brandon, Fielder, Collins & Mott, L.L.P.
assert that certain ad valorem taxes on real and business personal
property are owed by certain of the Selling Entities for tax year
2020.  The Texas Taxing Authorities assert that their respective
Alleged Texas Property Tax Claims are secured claims against one or
more of the Selling Entities.

Any Allowed Texas Property Tax Claim which arose for any tax year
prior to tax year 2020 will be paid in full in Cash on the later of
(i) the Closing Date, or (ii) ten days after such claim is deemed
an Allowed Texas Property Tax Claim.  All parties' rights to object
to the priority, validity, amount and extent of the Alleged Texas
Property Tax Claims and the asserted liens in connection therewith
are fully preserved.

Notwithstanding the provisions of Bankruptcy Rule 6004(h) and
Bankruptcy Rule 6006(d), and pursuant to Bankruptcy Rules 7062 and
9014, this Order will not be stayed for 14 days after the entry
hereof, but will be effective and enforceable immediately upon
issuance thereof.  Time is of the essence in closing the
transactions referenced, and the Debtors and the Buyer intend to
close the Sale as soon as practicable and there is no credible
basis for concluding that a delay in the sale of the Assets would
result in a higher or better offer for the Assets than the offer
reflected in the APA.  

In order to maximize the value of the Assets, it is essential that
the Sale of the Assets occur within the time constraints set forth
in the APA and consistent with the Bidding Procedures.
Accordingly, there is cause to lift the stays contemplated by
Bankruptcy Rules 6004(h) and 6006(d) and the Debtors and the Buyer
are authorized and empowered to close the Sale immediately upon
entry of the Order.

Notwithstanding the deadlines set forth in the Bidding Procedures
Order, the Closing Date may occur on such date permitted in
accordance with Section 4.01 of the APA.

A copy of the APA is available at https://tinyurl.com/y8v64ho6 from
PacerMonitor.com free of charge.

                    About Borden Dairy Company

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

Headquartered in Dallas, Borden Dairy operates 12 milk processing
plants and nearly 100 branches across the U.S.  It was founded in
1857 by Gail Borden, Jr.

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

Judge Christopher S. Sontchi oversees the case.

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

The Debtors tapped Arnold & Porter Kaye Scholer LLP as general
bankruptcy counsel; Young Conaway Stargatt & Taylor LLP as special
counsel; and Donlin Recano as the claims agent.


BOSS OYSTER: $1.6M Sale of Two Apalachicola Properties Approved
---------------------------------------------------------------
Judge Karen K. Specie of the U.S. Bankruptcy Court for the Northern
District of Florida authorized Boss Oyster, Inc. and Seagrape
Enterprises Apalachicola, Inc. to sell (i) Boss Oyster's real
property located at 125 Water Street, Apalachicola, Florida; and
(ii) Seagrape's real property next door to Boss Oyster, located at
123 Water Street, Apalachicola, Florida, to Preferred Coastal
Properties, LLC for $1.625 million.

The objection filed by Centennial Bank is sustained in part, to the
extent the modifications were demanded by the objection, and
overruled in part, to the extent it sought to preclude a sale from
occurring.

The hearing currently scheduled for June 25, 2020 is cancelled.

The sale is free and clear of all liens, claims, encumbrances, and
interests.

The Debtors have made sufficient allegations and a request in the
Motion to waive the 14-day stay requirement of Bankruptcy Rule
6004(h).  No objections being raised, the 14-day stay requirement
of Rule 6004(h) is lifted immediately upon execution of the Order.


The Purchase Price will be sufficient to pay the claims as provided
for in the amended plans filed by the Debtors, as may be modified
by the confirmation orders entered by the Court pursuant to the
Debtors' agreement with Centennial and the Purchaser, included but
not limited to the following:  

     a. U.S. Trustee fees;

     b. The Debtors' attorneys' fees upon approval by the Court;

     c. The secured claims as filed by the Franklin County Tax
Collector;  

     d. Centennial Bank, in the following amounts pursuant to its
agreement with the Debtors:

          i. $326,815 for the first and second mortgages on the
property owned by Boss Oyster, Inc. after application of the escrow
funds;

          ii. $391,015 for the first mortgage on the property owned
by Seagrape Enterprises of Apalachicola, Inc. after application of
the escrow funds;

          iii. $90,000 representing post-petition Section 506 fees,
interest, and costs spread amongst both cases;

          iv. $10,718 representing the administrative claim against
Seagrape Enterprises of Apalachicola, Inc. for force placed
insurance paid during the case;  

          v. $22,126 representing the administrative claim against
Boss Oyster, Inc. for force placed insurance paid during the case;


     e. The secured claims of the Small Business Administration
that are secured by Boss Oyster, Inc.'s real property in the total
amount of $552,277;

     f. Closing costs, including the real estate commission as
provided for in the Sale Contract; and

     g. A one-time 20% dividend to the general unsecured creditors
as provided for in the amended plans.

For the avoidance of doubt, the $100,000 cap for administrative
expenses will apply only to U.S. Trustee fees and the Debtors'
attorneys' fees and will not be deemed to limit the administrative
claims of Centennial Bank referenced.

All funds not paid directly to the following parties out of the
sale's closing will be remitted to Bruner Wright, P.A. Trust
Account for further distribution in accordance with any
confirmation order(s) or other order of the Court authorizing such
distributions.

The closing of the sales approved in the Order will not occur prior
to the confirmation orders in the Debtors' cases becoming final,
non-appealable orders.

                      About Boss Oyster Inc.

Boss Oyster Inc. owns and operates an oyster bar restaurant in
Apalachicola, Fla.
  
Boss Oyster and its affiliate Seagrape Enterprises of Apalachicola,
Inc., sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. N.D. Fla. Lead Case No. 19-40357) on July 12, 2019.  At the
time of the filing, Boss Oyster was estimated to have assets of
between $1 million and $10 million and liabilities of the same
range.  The cases have been assigned to Judge Karen K. Specie.
Bruner Wright, P.A., is the Debtors' bankruptcy counsel.


BRIGHT MOUNTAIN: Incurs $3.46 Million Net Loss in First Quarter
---------------------------------------------------------------
Bright Mountain Media, Inc. reported a net loss of $3.46 million
for the three months ended March 31, 2020, compared to a net loss
of $710,262 for the three months ended March 31, 2019.  The
increase in net loss was primarily related to non-cash operating
expenses.

Total revenue for the first quarter of 2020 was $2.3 million,
compared to revenue of $1.1 million in the same year-ago quarter.
The increase in revenue was due to an increase in advertising
revenue resulting from the acquisitions of Oceanside Media and
MediaHouse, in spite of the negative influence of Covid-19 on the
digital advertising market.

Selling, general and administrative expenses for the first quarter
of 2020 were $4.0 million, compared to $0.9 million in the same
year-ago quarter.  The increase in selling, general and
administrative expenses included $1.0 million of non-cash
amortization of intangible assets, $0.4 million in non-cash
expenses associated with an equity raise and $0.3 million of
acquisition related audit and consulting fees.

As of March 31, 2020, the Company had $78.60 million in total
assets, $10.25 million in total liabilities, and $68.34 million in
total shareholders' equity.

Cash and cash equivalents and short-term deposits were $1.3 million
as of March 31, 2020, compared with $1.0 million as of March 31,
2019.

Cash used in operations for the first quarter of 2020 was $1.4
million, compared with cash used in operations of $0.6 million in
the same year-ago quarter.

"The first quarter of 2020 built upon our successes in 2019, where
we successfully initiated our efforts to launch a fully integrated,
end-to-end digital media and advertising services platform," said
Kip Speyer, chairman and chief executive officer of Bright Mountain
Media.  "In the quarter, we saw advertisers hesitate in deploying
ad dollars due to COVID related uncertainty.  Despite these
headwinds, Bright Mountain was able to grow revenues by 109% to
$2.3 million in the first quarter of 2020, and in time, we expect
these challenges to subside as we enter a more normalized
environment in the back half of 2020.

"As we continue to capture more of the ad-dollar within the value
chain, we create more value than the sum of our parts, allowing
incredibly efficient demographic targeting with unique ad
syndication capabilities.  Most notably in June, we successfully
acquired Wild Sky Media, an interactive media company that
according to Google analytics reaches approximately 30 million
monthly unique visitors through its hyper-engaging content, further
strengthening our platform model.  We seek to enable their robust,
complimentary portfolio of websites to more efficiently create
value from their niche, diverse audiences leveraging our
proprietary content and ad delivery technologies.

"On the capital markets front, I am pleased to have started the
process to uplist to a national exchange, which we believe will
broaden our potential investor base and grow our brand reach,
resulting in greater liquidity for our shareholders.  We will
continue to work closely with the national exchanges to execute
upon this incredible milestone for our combined company.

"As we move into 2020, I am confident in our ability to execute
upon the business opportunity facing us today.  In fact, we expect
revenues in fiscal 2020 of $22 million, an increase of 214% over
fiscal 2019 revenues.  I look forward to continued progress in the
years ahead, creating sustainable long-term value for our
shareholders," concluded Speyer.

A full-text copy of the Form 10-Q is available for free at the
Securities and Exchange Commission's website at:

                        https://is.gd/HdqG1x

                     About Bright Mountain

Based in Boca Raton, Fla., Bright Mountain Media, Inc. --
http://www.brightmountainmedia.com/-- is a digital media holding
company whose primary focus is connecting brands with consumers as
a full advertising services platform.  Bright Mountain Media's
assets include an ad network, an ad exchange platform and 24
websites which are customized to provide its niche users, including
active, reserve and retired military, law enforcement, first
responders and other public safety employees with products,
information and news that the Company believes may be of interest
to them.

Bright Mountain reported a net loss of $3.40 million for the year
ended Dec. 31, 2019, compared to a net loss of $5.22 million for
the year ended Dec. 31, 2018.  As of Dec. 31, 2019, the Company had
$80.46 million in total assets, $12.96 million in total
liabilities, and $67.49 million in total shareholders' equity.

EisnerAmper LLP, in Iselin, New Jersey, the Company's auditor since
2018, issued a "going concern" qualification in its report dated
May 14, 2020, citing that the Company has experienced recurring net
losses, cash outflows from operating activities, and has an
accumulated deficit that raise substantial doubt about its ability
to continue as a going concern.


BROOKFIELD PROPERTY: Moody's Lowers CFR to Ba3, Outlook Negative
----------------------------------------------------------------
Moody's Investors Service downgraded the ratings of Brookfield
Property REIT Inc., including its Corporate Family Rating to Ba3
from Ba2 and its senior secured bank credit facility and senior
secured notes to B1 from Ba3. The REIT's Speculative Grade
Liquidity rating remains unchanged at SGL-4. The rating outlook is
negative. This concludes the review for downgrade on Brookfield
that was initiated on April 2, 2020.

The downgrade reflects Brookfield's elevated leverage entering the
pandemic and the high likelihood of weakening operating income in
the next four to six quarters such that its net debt/EBITDA will be
sustained well above the downgrade trigger of 11.5x on a pro-rata
JV basis. Moody's also expects Brookfield to face significant
hurdles in order to refinance its large amount of mortgage debt
maturities this year while its covenant compliance cushion remains
very modest.

Downgrades:

Issuer: Brookfield Property REIT Inc.

  -- Corporate Family Rating, Downgraded to Ba3 from Ba2

  -- Senior Secured Bank Credit Facility, Downgraded to B1 from
     Ba3

  -- Senior Secured Notes, Downgraded to B1 from Ba3

Outlook Action:

Issuer: Brookfield Property REIT Inc.

  -- Outlook, Changed to Negative from Rating Under Review

RATINGS RATIONALE

The rapid spread of the coronavirus outbreak, deteriorating global
economic outlook, low oil prices, and high asset price volatility
have created an unprecedented credit shock across a range of
sectors and regions. Moody's regards the coronavirus outbreak as a
social risk under its ESG framework, given the substantial
implications for public health and safety. Its action reflects the
impact on BPYU of the deterioration in credit quality it has
triggered, given its exposure to the mall real estate sector, which
has left it vulnerable to shifts in market demand and sentiment in
these unprecedented operating conditions.

Brookfield Property REIT Inc.'s Ba3 corporate family rating
reflects the REIT's meaningful scale and high proportion of good
quality retail assets in a portfolio that is well diversified by
tenant, asset and geography. BPYU's credit profile benefits from
its focus on the ownership of Class A malls with sales per square
foot of $651 for the trailing twelve months as of February 2020 and
same-property occupancy rate of 94.4% as of March 31, 2020. The
REIT's credit profile also benefits from its strong track record of
improving portfolio asset quality through redevelopment, and its
implicit support from its parent company Brookfield Property
Partners L.P. (BPY, unrated) and Brookfield Asset Management Inc.
(BAM, Baa1 stable).

BPYU's high leverage and fully secured debt structure, more than
any other factors, constrain BPYU's credit quality. BPYU's net
debt/EBITDA was 13.4x on a consolidated basis with pro-rata joint
ventures. As a result of its secured funding strategy, BPR's
unencumbered pool is negligible, limiting financial flexibility.
Additionally, many of the REIT's largest tenants are facing
financial distress or are opportunistically rationalizing their
store footprints. While more profitable stores in higher quality
portfolios such as those of BPYU would likely survive the initial
cuts, none of the enclosed mall REITs would be immune to the retail
landscape. Moody's expects the Covid-19 pandemic to accelerate more
store closures in the next 24 months that would otherwise happen
over a multi-year horizon. Moreover, BPYU has an exposure to class
B and lower assets, characterized by soft foot traffic and tenant
sales below $400 per square foot, which are most vulnerable to
potential store closings by a given stressed retailer. As a result,
the REIT's same property growth has been trending negatively in the
last four quarters. Its same property growth for Q1 2020 was -3.4%,
compared to -3.8% for Q4 2019.

BPYU's speculative grade liquidity rating of SGL-4 reflects the
REIT's modest liquidity position relative to its mortgage
maturities and high reliance on the revolver to bridge various cash
needs. Moody's also expects that BPYU's cash flows will decline as
a result of lower operating income in the next two quarters and
that outstanding cash rent could potentially be deferred through
the end of 2021. BPYU had $1.25 billion in liquidity at March 31,
2020, comprised of approximately $516.8 million of cash and $735
million available under its $1.5 billion revolver, which matures in
August 2022. Although the next meaningful term-loan maturity of $2
billion is not due until August 2023, the REIT has approximately
$1.7 billion in mortgage debt coming due in 2020 and $3.1 billion
due in 2021. The SGL-4 also reflects BPYU's modest headroom on the
fixed charge maintenance covenant ratio, given the step up in the
requirement to 1.5x from 1.35x starting in Q4 2019 and BPR's heavy
interest expense burden. Substantially all of BPYU's assets are
encumbered, which limit the REIT's alternative liquidity since
there will be significantly less cash remaining from any potential
asset sales after consideration for payments to the associated
mortgage debt repayment or any joint venture partners.

The negative outlook reflects Moody's concern about BPYU's ability
to refinance the significant amount of mortgage debt maturities in
the next four to six quarters and its modest covenant compliance
cushion.

BPR's secured credit facility is rated B1, one notch lower that the
REIT's Ba3 CFR reflecting its junior position to the mortgages at
the asset-level, which encumber nearly all of BPYU's portfolio of
assets.

FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS

Ratings could be downgraded if Moody's is concerned about BPYU's
covenant compliance cushion, or net debt/EBITDA is sustained above
14x on a pro-rata JV basis. Furthermore, BPYU's inability to
refinance its mortgage next maturity over the next four to six
quarters could also lead to a downgrade.

Although not likely, ratings could be upgraded if BPYU is able to
sustain net debt/EBITDA under 11x and improve fixed charge coverage
to over 2.5x. A rating upgrade will also require a meaningful
increase in the covenant compliance cushion above the required
levels while maintaining ample liquidity to meet near and
intermediate-term fixed obligations. In addition, a rating upgrade
will also require profitable growth, as measured by solid occupancy
and positive core NOI growth, as well as successful redevelopment
and enhancement of the productivity of existing centers (as
measured by improving sales per square foot trends).

The principal methodology used in these ratings was REITs and Other
Commercial Real Estate Firms published in September 2018.

Headquartered in Chicago, Illinois, Brookfield Property REIT Inc.
(NASDAQ: BPYU) is an independent real estate investment trust
(REIT) with a portfolio comprised mainly of Class A retail
properties throughout the United States. BPR had gross assets of
approximately $42.7 billion as of March 31, 2020. BPYU owned either
entirely or with joint venture partners 122 retail properties
located throughout the United States as of March 31, 2020.


CALIFORNIA RESOURCES: S&P Lowers Long-Term ICR to 'D'
-----------------------------------------------------
S&P Global Ratings lowered its long-term issuer credit rating on
U.S.-based oil and gas exploration and production company
California Resources Corp. (CRC) to 'D' (default) from 'CC'.

At the same time, S&P is lowering its ratings on the company's $1
billion 1.5-lien term loan due 2021 and the $1.3 billion first-lien
term loan due 2022 to 'D' from 'CC' (recovery rating: '1'), the
second-lien notes due 2022 to 'D' from 'CC' (recovery rating: '2'),
and the unsecured notes due 2021 and 2024 to 'D' from 'CC'
(recovery rating: '6').

"The downgrade reflects our view that CRC will not make the
aggregate interest payments on its 1.5-lien term loan due 2021, its
first-lien term loan due 2022, or its 8% second-lien notes due 2022
within the 30-day grace period. The company continues discussions
with its debtholders, and we believe these will result in a
comprehensive debt restructuring or a bankruptcy filing," S&P
said.

"Given the current macroeconomic and industry conditions and CRC's
high level of debt, we believe the company will fail to pay its
obligations as they come due," the rating agency said.


CARE NEW ENGLAND: S&P Cuts Bond Rating to B+; Rating Off Watch Neg.
-------------------------------------------------------------------
S&P Global Ratings lowered its long-term rating on Rhode Island
Health and Educational Building Corp.'s bonds issued for Care New
England (CNE) to 'B+' from 'BB-' and removed the rating from
CreditWatch, where it had been placed with negative implications on
April 14, 2020. The outlook is negative.

"The downgrade reflects weak pre-COVID-19 financial performance and
our expectation for a significant loss in fiscal 2020," said S&P
Global Ratings credit analyst Cynthia Keller.

The rating reflects S&P's opinion of CNE's:

-- Very weak unrestricted reserves relative to operating expenses,
but better relative to debt levels;

-- Uneven financial performance over the past several years, with
multiple years of significant operating losses broken only by a
small profit in fiscal 2019;

-- Moderate debt levels, although there is uncertainty about the
ability to refinance the series 2016C taxable bullet in 2026;

-- Very little cushion under MTI covenants, with a covenant breach
possible at fiscal year-end 2020;

-- Strained payer mix that relies on governmental payers and
supplemental funding;

-- Location in a competitive service area; and

-- Modestly funded defined benefit pension plans that will likely
be a future drain on reserves.

Offsetting these weaknesses are CNE's:


-- Receipt of sizable federal and state relief funds related to
COVID-19 and management's expectation that more could be
forthcoming, perhaps from the state;

-- More limited volume declines at the system's two specialty
hospitals (women and infants, and behavioral health) due to
essentiality during the pandemic;

-- Robust set of management initiatives underway to reduce
expenses;

-- Relatively short maturity schedule ending in 2036 for a
majority of debt outstanding;

-- Opportunities for fundamental health care system restructuring
with Lifespan; and

-- Recent trend of improving earnings and cash flow until fiscal
2020.

S&P views social risk as higher than that of sector peers for
several reasons, including CNE's meaningful exposure to a unionized
workforce with half of its employee base unionized and a
higher-than-typical reliance on Medicaid, which is a weak payer.
These are both factors that have contributed to CNE's financial
challenges. S&P also believes that COVID-19 has exposed CNE and its
peers to additional social risks that are creating cash flow
pressure, especially if revenues and federal and state support are
insufficient to cover the increased equipment and personnel costs,
as well as revenue shortfalls resulting from the deferral of
non-emergent visits and procedures.

S&P views governance risk as being in line with that of peers even
with recent significant management turnover throughout the
organization, as this may create an opportunity to create a
stronger team. Although CNE was subject to a recent cyber-attack,
it has been resolved and management believes there was no access to
personal information. S&P believes the organization managed well
through the attack and has already implemented additional
safeguards. Finally, the rating agency believes environmental risk
is in line with its view of the industry as a whole.

The negative outlook reflects S&P's expectation that CNE will
continue to face significant operating and cash flow challenges
over the near term due to COVID-19 and related recessionary
pressures. S&P expects CNE will be able to maintain sufficient
liquidity but believe it will report a sizable loss for fiscal
2020.

S&P could consider a lower rating within the next year if CNE's
liquidity weakens further or if the hospital has challenges making
timely payments under its financial obligations. In addition, S&P
could lower the rating if CNE triggers an event of default under
its covenants and does not obtain waiver relief. CNE's trend in
underlying operating performance will also be an important factor
determining future rating movement, as well as the potential merger
with Lifespan.

The rating agency could revise the outlook to stable if CNE is able
to improve its reserve position, excluding temporary advances from
payers, and post a trend of moderating operating losses. Under its
group rating methodology, S&P would reconsider CNE's credit profile
if Lifespan and CNE sign a definitive agreement or consummate an
affiliation.


CEC ENTERTAINMENT: King & Spalding Represents Noteholder Group
--------------------------------------------------------------
Pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure,
the law firm of King & Spalding LLP submitted a verified statement
that it is representing the Ad Hoc Noteholders in the Chapter 11
cases of CEC Entertainment, Inc., et al.

In May 2020, certain holders, or investment advisors, sub-advisers
or managers of the account of such holders, of the 8.000% Senior
Notes due 2022, issued by CEC Entertainment, Inc. pursuant to that
certain Indenture, dated as of February 19, 2014, between the
Company and Wilmington Trust, National Association, as trustee,
engaged King & Spalding LLP to represent them in connection with
the potential restructuring of the Debtors.

K&S represents only the Ad Hoc Noteholders and does not represent
or purport to represent any entities other than the Ad Hoc
Noteholders in connection with the Debtors' chapter 11 cases. In
addition, the Ad Hoc Noteholders, both collectively and through the
individual members, do not represent or purport to represent any
other entities in connection with the Debtors' chapter 11 cases.

As of June 26, 2020, each Ad Hoc Noteholder and their disclosable
economic interests are:

Longfellow Investment Management Co., LLC
20 Winthrop Square
Boston, MA 02110
Attn: David Stuehr
Phone: (617) 695-3504

* Notes: $4,775,000

Prudential Financial, Inc.
655 Broad Street, 19th Floor
Newark, NJ 07102
Attn: Gregory Cass
Phone: (973) 802-6000

* Notes: $90,469,000
* Term Loans: $34,028,875

Resource Credit Income Fund
717 Fifth Ave, 14th Fl
New York, NY 10022
Attn: Mike Terwilliger
Phone: (212) 506-3899

* Notes: $11,549,000

Westchester Capital Management
100 Summit Lake Drive
Valhalla, NY 10595
Attn: Steve Tan
Phone: (914) 741-5600

* Notes: $11,500,000

K&S does not own, nor has it ever owned, any claims against the
Debtors except for claims for services rendered to the Ad Hoc
Noteholders. K&S may at some future time seek to have its fees and
disbursements incurred on behalf of the Ad Hoc Noteholders paid by
the Debtors' estates pursuant to title 11 of the United States Code
or as otherwise permitted in the Debtors' chapter 11 cases. K&S
does not perceive any actual or potential conflict of interest with
respect to the representation of the Ad Hoc Noteholders in the
Debtors' chapter 11 cases.

All of the information contained herein is intended only to comply
with Bankruptcy Rule 2019 and is not intended for any other
purpose. Nothing contained in this Verified Statement should be
construed as a limitation upon, or waiver of, any Ad Hoc
Noteholders' right to assert, file and/or amend its claims in
accordance with applicable law and any orders entered in the
Debtors' chapter 11 cases.

The Ad Hoc Noteholders, through their undersigned counsel, further
reserve the right to supplement and/or amend this Verified
Statement in accordance with the requirements set forth in
Bankruptcy Rule 2019 at any time in the future.

Counsel for the Ad Hoc Noteholders can be reached at:

          King & Spalding LLP
          Michael Rupe, Esq.
          1185 Avenue of the Americas
          NY, NY 10036
          Telephone: (212) 556-2135
          Email: mrupe@kslaw.com

             - and -

          Matthew L. Warren, Esq.
          Lindsey Henrikson, Esq.
          353 North Clark Street, 12th Floor
          Chicago, IL 60654
          Telephone: (312) 764-6921
                     (312) 764-6924
          Email: mwarren@kslaw.com
                 lhenrikson@kslaw.com

A copy of the Rule 2019 filing, downloaded from PacerMonitor.com,
is available at https://is.gd/vyIn4i

                    About CEC Entertainment

CEC Entertainment -- http://www.chuckecheese.com/-- is a family  
entertainment and dining company that owns and operates Chuck E.
Cheese and Peter Piper Pizza restaurants.  As of Dec. 31, 2019,
the
Company and its franchisees operate a system of 612 Chuck E.
Cheese
restaurants and 129 Peter Piper Pizza stores, with locations in 47
states and 16 foreign countries and territories.

CEC Entertainment recorded a net loss of $28.92 million for the
year ended Dec. 29, 2019, compared to a net loss of $20.46 million
for the year ended Dec. 30, 2018.  As of Dec. 29, 2019, the
Company
had $2.12 billion in total assets, $1.90 billion in total
liabilities, and $213.78 million in total stockholders' equity.


CERESOTA FUNDING: Voluntary Chapter 11 Case Summary
---------------------------------------------------
Debtor: Ceresota Funding II, LLC
        155 Fifth Ave S Apt 300
        Minneapolis, MN 55401

Case No.: 20-41740

Business Description: Ceresota Funding II, LLC is a Single Asset
                      Real Estate (as defined in 11 U.S.C. Section
                      101(51B)).

Chapter 11 Petition Date: July 1, 2020

Court: United States Bankruptcy Court
       District of Minnesota

Judge: Hon. Kathleen H. Sanberg

Debtor's Counsel: John D. Lamey III, Esq.
           LAMEY LAW FIRM, P.A.
                  980 Inwood Ave N
                  Oakdale, MN 55128-7094
                  Tel: 651-209-3550
                  E-mail: jlamey@lameylaw.com

Estimated Assets: $10 million to $50 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by Ross H. Dworsky, president.

The Debtor stated it has no unsecured creditors.

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

                       https://is.gd/zXNo1S


CHINOS HOLDINGS: Milbank, Tavenner Update on Term Lenders
---------------------------------------------------------
In the Chapter 11 cases of PG&E Corporation and Pacific Gas and
Electric Company, et al., the law firms of Tavenner & Beran, PLC
and Milbank LLP submitted an amended verified statement under Rule
2019 of the Federal Rules of Bankruptcy Procedure, to disclose an
updated list of Ad Hoc Committee that they are representing.

The Ad Hoc Committee of certain beneficial holders, or investment
advisors or managers for the account of beneficial holders, of term
loans under the Amended and Restated Credit Agreement, dated March
5, 2014, among J. Crew Group, Inc., Chinos Intermediate Holdings B,
Inc., the lenders party thereto, and Wilmington Savings Fund
Society, FSB as successor administrative agent, 13.00% Senior
Secured Notes due 2021 and 13.00% Senior Secured New Money Notes
due 2021 issued by J.Crew Brand Corp. and J. Crew Brand, LLC under
the two Indentures dated July 13, 2017 to which U.S. Bank National
Association acts as collateral agents and indenture trustees,
Series A Preferred Stock issued by Chinos Holdings, Inc., and/or
common stock issued by Holdings.

In April 2019, the Ad Hoc Committee retained Milbank as counsel.
From time to time thereafter, certain holders of Term Loans, IPCo
Notes, Chinos Series A Preferred Stock, and/or Chinos Common Stock
have joined the Ad Hoc Committee. In April 2020, the Ad Hoc
Committee retained Tavenner & Beran as Virginia counsel.

Counsel represents the Ad Hoc Committee and does not represent or
purport to represent any entities other than the Ad Hoc Committee
in connection with the Debtors' chapter 11 cases. In addition,
neither the Ad Hoc Committee nor any member of the Ad Hoc Committee
represents or purports to represent any other entities in
connection with the Debtors' chapter 11 cases.

As of June 19, 2020, members of the Ad Hoc Committee and their
disclosable economic interests are:

Anchorage Capital Group, L.L.C.
610 Broadway, 6th Floor
New York, NY 10012

* Term Loans: $813,991,187.95
* IPCo Notes: $133,316,000.00
* Chinos Series A Preferred Stock: $57,630,197.00
* Chinos Common Stock: 4,834,102 shares
* DIP Commitments: $140,336,001.31

Angelo, Gordon & Co., L.P.
245 Park Avenue, 26th Floor
New York, NY 10167

* IPCo Notes: $30,381,000.00
* DIP Commitments: $43,925,644.15

Antora Peak Capital Management LP
5700 W 112th St., Suite 500
Overland Park, KS 66211

* Term Loans: $34,972,266.72
* IPCo Notes: $4,000,000.00
* Chinos Series A Preferred Stock: $13,000,000.00
* Chinos Common Stock: 665,131 shares
* DIP Commitments: $5,183,226.01

Citadel Equity Fund Ltd.
601 Lexington Avenue
New York, NY 10022

* Term Loans: $70,381,084.25
* DIP Commitments: $22,038,622.07

Davidson Kempner Capital Management LP
520 Madison Avenue, 30th Floor
New York, NY 10022

* Term Loans: $78,684,382.65
* DIP Commitments: $71,300,680.00

FS Global Credit Opportunities Fund
201 Rouse Boulevard, 3rd Floor
Philadelphia, PA 19112

* Term Loans: $12,234,399.69
* IPCo Notes: $33,259,000.00
* Chinos Series A Preferred Stock: $18,651,132.00
* Chinos Common Stock: 1,068,652 shares
* DIP Commitments: $26,355,386.49

GSO Capital Partners LP
345 Park Avenue
New York, NY 10154

* Term Loans: $59,633,256.30
* IPCo Notes: $93,206,000.00
* Chinos Series A Preferred Stock: $52,122,929.05
* Chinos Common Stock: 4,523,836.26 shares
* DIP Commitments: $45,155,562.20

LibreMax Capital, LLC
600 Lexington Avenue,
7th Floor
New York, NY 10022

* Term Loans: $54,667,338.00
* DIP Commitments: $15,775,275.45

Co-Counsel to the Ad Hoc Committee can be reached at:

          Lynn L. Tavenner, Esq.
          Paula S. Beran, Esq.
          David N. Tabakin, Esq.
          TAVENNER & BERAN, PLC
          20 North Eighth Street, Second Floor
          Richmond, VA 23219
          Telephone: (804) 783-8300
          Facsimile: (804) 783-0178

               - and -

          Dennis F. Dunne, Esq.
          Samuel A. Khalil, Esq.
          Matthew L. Brod, Esq.
          MILBANK LLP
          55 Hudson Yards
          New York, NY 10001-2163
          Telephone: (212) 530-5000
          Facsimile: (212) 530-5219

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

                    About Chinos Holdings

Chinos Holdings, Inc. designs apparels. It offers clothing for
men,
women and children, as well as accessories. Chinos Holdings serves
customers worldwide.

Chinos Holdings, Inc. and its affiliates, including J.Crew Group,
Inc., sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. E.D. Va. Lead Case No. 20-32181) on May 4, 2020.  

At the time of the filing, the Debtors were each estimated to have
assets of between $1 billion and $10 billion and liabilities of
the
same range.

Judge Keith L. Phillips oversees the cases.

The Debtors tapped Weil, Gotshal & Manges, LLP as bankruptcy
counsel; Hunton Andrews Kurth, LLP as local counsel; Lazard Freres
& Co. LLC; Alixpartners, LLP as financial advisor; Hilco Real
Estate, LLC as real estate advisor; KPMG LLP as tax consultant;
and
Omni Agent Solutions, LLC as claims, noticing and solicitation
agent and as administrative advisor.



CHISHOLM OIL: Paul Weiss, Richards Represent Chisolm Oil, Gastar
----------------------------------------------------------------
Pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure,
the law firms of Paul, Weiss, Rifkind, Wharton & Garrison LLP and
Richards, Layton & Finger, P.A submitted a verified statement that
they are representing Chisholm Oil and Gas, LLC and Gastar Holdco
LLC in the Chapter 11 cases of Chisholm Oil and Gas Operating, LLC,
et al.

In March 2020, the Sponsors retained Paul, Weiss, Rifkind, Wharton
& Garrison LLP to represent them in connection with a potential
financial restructuring of the above-captioned debtors and
debtors-in-possession. In June 2020, the Sponsors retained
Richards, Layton & Finger, P.A in connection with the same.

As of June 26, 2020, the name Sponsors and their disclosable
economic interests are:

                                          Series A Units
                                          --------------

Chisholm Oil and Gas, LLC                 835,818,682.75
6100 S. Yale Ave. Ste. 1700
Tulsa, OK

Gastar Holdco LLC                         605,248,011.65
1331 Lamar St. Ste, 650
Houston, TX

Counsel to Chisholm Oil and Gas, LLC and Gastar Holdco LLC can be
reached at:

       RICHARDS, LAYTON & FINGER, P.A.
       Mark D Collins, Esq.
       Russell C. Silberglied, Esq.
       Travis J. Cuomo, Esq.
       One Rodney Square
       920 North King Street
       Wilmington, DE 19801
       Telephone: (302) 651-7700
       Facsimile: (302) 651-7701
       Email: collins@rlf.com
              silberglied@rlf.com
              cuomo@rlf.com

              - and -

       Jeffrey D. Saferstein, Esq.
       Elizabeth R. McColm, Esq.
       Michael J. Colarossi, Esq.
       Patricia A. Walsh, Esq.
       PAUL, WEISS, RIFKIND, WHARTON & GARRISON, LLP
       125 Avenue of the Americas
       New York, NY 10001
       Telephone: (212) 373-3000
       Facsimile: (212) 757-3990
       Email: jsaferstein@paulweiss.com
              emccolm@paulweiss.com
              mcolarossi@paulweiss.com
              pwalsh@paulweiss.com

A copy of the Rule 2019 filing, downloaded from PacerMonitor.com,
is available at https://is.gd/gBjBsw and https://is.gd/9kweCt

              About Chisholm Oil and Gas Operating, LLC

Chisholm is an exploration and production company focused on
acquiring, developing, and producing oil and natural gas assets in
the Anarkado Basin in Oklahoma in an area commonly referred to as
the Sooner Trend Anadarko Basin Canadian and Kingfisher County (the
"STACK").

Chisholm Oil and Gas Operating, LLC, based in Tulsa, Oklahoma, and
its debtor-affiliates sought Chapter 11 protection  (Bankr. Lead
Case No. 20-11593) on June 17, 2020.

In the petition signed by CFO Michael Rigg, the Debtors were
estimated to have $1 billion to $10 billion in assets and $500
million to $1 billion in liabilities.

The Hon. Brendan Linehan Shannon presides over the case.

WEIL, GOTSHAL & MANGES LLP, and YOUNG CONAWAY STARGATT & TAYLOR,
LLP, as counsels; EVERCORE GROUP LLC, as investment banker; ALVAREZ
& MARSAL NORTH AMERICA, LLC, as financial advisor; OMNI AGENT
SOLUTIONS, as claims and noticing agent.


CIRQUE DU SOLEIL: Chapter 15 Case Summary
-----------------------------------------
Lead Debtor: CDS U.S. Holdings, Inc.
             6775 Edmond Street, Suite 300
             Las Vegas, NV 89118

Business Description:     Cirque du Soleil --
                          https://www.cirquedusoleil.com -- was
                          founded in 1984 and is a live
                          entertainment media company,
                          having reinvented circus arts and
                          created one of the industry's most
                          iconic creative brands.  Based in
                          Montreal, Quebec, Canada, Cirque du
                          Soleil has, over the past 35 years,
                          conceptualized, produced and presented
                          shows to more than 180 million
                          spectators, in approximately 450 cities
                          across 60 countries in six continents.
                          In addition to its live entertainment
                          offerings, Cirque du Soleil has also
                          extended its creative approach and
                          leveraged its brand position and
                          creative and operational capabilities
                          into complementary businesses such as
                          ticketing, hospitality, and media.

Foreign Proceeding:       Proceeding under Sections 9, 11, 11.51,
                          11.52, and 23 of the Companies' Credit
                          Arrangement Act pending before the
                          Superior Court of Quebec, Commercial
                          Division under the Companies'
                          Creditors Arrangement Act, R.S.C. 1985,
                          c. C-36 (as amended) in the Superior
                          Court of Quebec, Commercial Division

Chapter 15 Petition Date: July 1, 2020

Court:                    United States Bankruptcy Court
                          District of Delaware

Forty-three affiliates that concurrently filed voluntary petitions
for relief under Chapter 15 of the Bankruptcy Code:

   Debtor                                           Case No.
   ------                                           --------
   CDS U.S. Holdings, Inc. (Lead Debtor)            20-11719
   9415-8185 Quebec Inc.                            20-11760
   9415-8219 Quebec Inc.                            20-11761
   9415-8227 Quebec Inc.                            20-11758
   9415-8235 Quebec Inc.                            20-11759
   Astor Show Productions, LLC                      20-11738
   Blue Man Chicago, LLC                            20-11743
   Blue Man Group Holdings, LLC                     20-11736
   Blue Man Group Publishing, LLC                   20-11739
   Blue Man Group Records, LLC                      20-11737
   Blue Main Inc.                                   20-11735
   Blue Man International, LLC                      20-11720
   Blue Man Orlando, LLC                            20-11741
   Blue Man Productions, LLC                        20-11742
   Blue Man Vegas, LLC                              20-11740
   CDS U.S. Intermediate Holdings, Inc.             20-11734
   Cirque Dreams Holdings LLC                       20-11749
   Cirque Du Soleil (US), Inc.                      20-11745
   Cirque Du Soleil America, Inc.                   20-11746
   Cirque Du Soleil Canada, Inc.                    20-11729
   Cirque Du Soleil GP Inc.                         20-11727
   Cirque Du Soleil Holding USA, Inc.               20-11744
   Cirque Du Soleil Images, Inc.                    20-11731
   Cirque Du Soleil Inspiration, Inc.               20-11732
   Cirque Du Soleil My Call, LLC                    20-11756
   Cirque Du Soleil Nevada, Inc.                    20-11747
   Cirque Du Soleil Orlando, LLC                    20-11754
   Cirque Du Soleil Radio CT Holdings, LLC          20-11721
   Cirque Du Soleil Radio CT, LLC                   20-11722
   Cirque Du Soleil Vegas, LLC                      20-11755
   Cirque Du Soleil, Inc.                           20-11730
   Cirque on Broadway, LLC                          20-11725
   Cirque Theatrical, LLC                           20-11724
   Creation 4U2C Inc.                               20-11733
   CDS Canadian Holdings, Inc.                      20-11728
   Joie de Vie, LLC                                 20-11726
   The Works Entertainment LLC                      20-11723
   Velsi, LLC                                       20-11757
   VStar Entertainment Group, LLC                   20-11748
   VStar Interntaional, LLC                         20-11751
   VStar Merchandising, LLC                         20-11750
   VStar Theatrical, LLC                            20-11752
   VStar Touring, LLC                               20-11753

Judge:                    Hon. Christopher S. Sontchi

Authorized Foreign
Representative:           Cirque du Soleil Canada Inc.
                          Stephane Lefebvre, CFO
                          8400, 2e Avenue
                          Montreal, Quebec, H1Z 4M6
                          Canada

Foreign
Representative's
Counsel:                  Laura Davis Jones, Esq.
                          Timothy P. Cairns, Esq.
                          PACHULSKI STANG ZIEHL & JONES LLP
                          919 North Market Street, 17th Floor
                          P.O. Box 8705
                          Wilmington, Delaware 19899-8705
                          Tel: (302) 652-4100
                          Fax: (302) 652-4400
                          Email: ljones@pszjlaw.com
                                 tcairns@pszjlaw.com

                            - and -

                          Aparna Yenamandra, Esq.
                          KIRKLAND & ELLIS LLP
                          KIRKLAND & ELLIS INTERNATIONAL LLP
                          601 Lexington Avenue
                          New York, New York 10022
                          Tel: (212) 446-4800
                          Fax: (212) 446-4900
                          Email: aparna.yenamandra@kirkland.com

                            - and -

                          Chad J. Husnick, P.C.
                          KIRKLAND & ELLIS LLP
                          KIRKLAND & ELLIS INTERNATIONAL LLP
                          300 North LaSalle Street
                          Chicago, Illinois 60654
                          Tel: (312) 862-2000
                          Fax: (312) 862-2200
                          Email: chad.husnick@kirkland.com

Debtors'
Claims Agent:             OMNI AGENT SOLUTIONS
                          https://is.gd/fo1xMk

Estimated Assets:         Unknown

Estimated Debts:          Unknown

A full-text copy of the motion seeking joint administration of the
Debtors' cases is available for free at PacerMonitor.com at:

                          https://is.gd/szZGXg


CONFORMIS INC: Needs More Financing to Remain as Going Concern
--------------------------------------------------------------
Conformis, Inc. filed its quarterly report on Form 10-Q, disclosing
a net loss of $9,353,000 on $16,475,000 of total revenue for the
three months ended March 31, 2020, compared to a net loss of
$7,581,000 on $20,644,000 of total revenue for the same period in
2019.

At March 31, 2020, the Company had total assets of $63,534,000,
total liabilities of $54,019,000, and $9,515,000 in total
stockholders' equity.

The Company said, "As of March 31, 2020, we were not in breach of
covenants under the 2019 Secured Loan Agreement.  However, we do
not expect to satisfy the trailing six months' revenue covenant at
the end of June 2020, which may be an event of default under the
2019 Secured Loan Agreement unless a new financial plan, which
would include the sale and issuance of equity securities, is agreed
upon between parties within a 60-day cure period after June 30,
2020.  If we fail to meet such revenue covenant as of June 30, 2020
and the parties fail to agree upon a new financial plan within the
60-day cure period after June 30, 2020, Innovatus would be
permitted to exercise remedies against us and our assets, including
charging interest at the rate that is otherwise applicable plus
5.0%, taking control of our cash and commencing foreclosure
proceedings on our other assets.  We are in initial discussions
with Innovatus with the goal of adjusting the revenue covenants as
provided for under the 2019 Secured Loan Agreement, but there can
be no guarantee that these discussions will be successful.  If we
are unsuccessful in our discussions with Innovatus, we would need
to refinance this debt prior to Innovatus exercising remedies
against us in order to prevent such exercise of remedies.  We may
not be able to obtain additional financing on terms favorable to
us, or at all.  This condition raises substantial doubt that we
will continue as a going concern."

A copy of the Form 10-Q is available at:

                       https://is.gd/sNsMjf

Conformis, Inc., a medical technology company, develops,
manufactures, and sells joint replacement implants. The company
offers personalized knee replacement products, including iTotal CR,
a cruciate-retaining product; iTotal PS, a posterior cruciate
ligament substituting product; iDuo, a personalized bicompartmental
knee replacement system; and iUni, a personalized unicompartmental
knee replacement product to treat the medial or lateral compartment
of the knee. It also provides Conformis Hip System, a hip
replacement product; and iJigs, a customized single-use
patient-specific instrumentation. The company markets and sells its
products to hospitals and other medical facilities through sales
force, independent sales representatives, and distributors in the
United States, Germany, the United Kingdom, Austria, Ireland,
Switzerland, Singapore, Hong Kong, Malaysia, Monaco, Hungary,
Spain, and Australia. Conformis, Inc. was founded in 2004 and is
headquartered in Billerica, Massachusetts.



CORE MOLDING: Has $7.96M Net Income for Quarter Ended March 31
--------------------------------------------------------------
Core Molding Technologies, Inc. filed its quarterly report on Form
10-Q, disclosing a net income of $7,961,000 on $64,023,000 of net
sales for the three months ended March 31, 2020, compared to a net
loss of $3,845,000 on $72,266,000 of net sales for the same period
in 2019.

At March 31, 2020, the Company had total assets of $174,716,000,
total liabilities of $83,994,000, and $90,722,000 in total
stockholders' equity.

Core Molding said, "While the Company has executed an Amended
Forbearance Agreement with existing Lenders, it has not met all the
conditions of the Amended Forbearance Agreement.  The Company
cannot predict if the Lenders will exercise their rights and
remedies under the A/R Credit Agreement beyond the term of the
Amended Forbearance Agreement.  Additionally, since the Company has
no firm commitments for additional financing, there can be no
assurances that the Company will be able to secure additional
financing.  As there can be no assurance that the Company will be
able to successfully implement its refinancing plan, these
conditions raise substantial doubt about the Company's ability to
continue as a going concern within one year after the date the
financial statements are issued.  The Company's consolidated
financial statements do not include adjustments, if any, that might
arise from the outcome of this uncertainty."

A copy of the Form 10-Q is available at:

                       https://is.gd/GpcJMj

Core Molding Technologies, Inc., together with its subsidiaries,
manufactures sheet molding compound (SMC) and molder of thermoset
and thermoplastic products. It specializes in large-format moldings
and offers a range of fiberglass processes, including compression
molding of SMC, glass mat thermoplastics, bulk molding compounds,
and direct long-fiber thermoplastics; and spray-up, hand lay-up,
resin transfer molding, structural foam and structural Web
injection molding, reaction injection molding, and utilizing
dicyclopentadiene technology. The company serves various markets,
including medium and heavy-duty trucks, automobiles, marine,
construction, and other commercial markets. It sells its products
in the United States, Mexico, and Canada. The company was formerly
known as Core Materials Corporation and changed its name to Core
Molding Technologies, Inc. in August 2002. Core Molding
Technologies, Inc. was incorporated in 1996 and is headquartered in
Columbus, Ohio.



COVIA HOLDINGS: Moody's Cuts PDR to D-PD on Bankruptcy Filing
-------------------------------------------------------------
Moody's Investors Service downgraded Covia Holdings Corporation's
Probability of Default Rating to D-PD from Caa1-PD. Concurrently,
Moody's downgraded Covia's Corporate Family Rating to Ca from Caa1
and senior secured first lien credit facility rating to Ca from
Caa1. The outlook remains negative. These actions follow Covia's
June 30, 2020 voluntary filing of petitions for relief under
Chapter 11 of the Bankruptcy Code in the United States Bankruptcy
Court for the Southern District of Texas.

"The significant exposure to the volatile oil and gas industry and
the sudden drop in profitability of the company's industrial sand
business have materially impacted its expectations of Covia's
creditors ability to recover their investment in the near term"
said Emile El Nems, a Moody's VP-Senior Analyst.

Downgrades:

Issuer: Covia Holdings Corporation

  Probability of Default Rating, Downgraded to D-PD from Caa1-PD

  Corporate Family Rating, Downgraded to Ca from Caa1

  Senior Secured 1st Lien Term Loan, Downgraded to Ca (LGD3)
  from Caa1 (LGD3)

Outlook Actions:

Issuer: Covia Holdings Corporation

  Outlook, Remains Negative

RATINGS RATIONALE

The Chapter 11 bankruptcy filing has resulted in a downgrade of
Covia's PDR to D-PD, reflecting the company's default on its debt
agreements. In addition, Moody's downgraded the company's CFR and
senior secured first lien term loan to Ca from Caa1 to reflect
Moody's view on expected recovery. Shortly following this rating
action, Moody's will withdraw all of Covia's ratings.

The rapid spread of the coronavirus outbreak, deteriorating global
economic outlook, low oil prices, and high asset price volatility
have created an unprecedented credit shock across a range of
sectors and regions. Moody's regards the coronavirus outbreak as a
social risk under its ESG framework, given the substantial
implications for public health and safety. Its action reflects the
impact on Covia of the deterioration in credit quality it has
triggered, given its exposure to the industrial sand business and
to the volatile oil & gas industry, which has left it vulnerable to
shifts in market demand and sentiment in these unprecedented
operating conditions.

The principal methodology used in these ratings was Building
Materials published in May 2019.

Based in Independence, Ohio, Covia [NYSE: CVIA] is a leading
provider of specialty sands and minerals serving the energy and
industrial end markets. The company has approximately 50 million
tons of annual processing capacity. In June 2018, Unimin
Corporation and Fairmount Santrol, Inc. combined in a cash and
stock transaction to create Covia, with Sibelco as the largest
shareholder owning approximately 65% of the shares. Sibelco
(SCR-Sibelco NV), is a privately held, globally-diversified,
industrial minerals company based in Belgium. Covia is currently
organized into two segments: (1) energy (oil & gas), which serves
the oil & gas exploration and production industry, and (2)
industrial products (ISP), which serves the industrial end markets
(foundry, automotive, glassmaking, filtration industries, etc.).


CPG INT'L: Moody's Raises CFR to B1, Outlook Stable
---------------------------------------------------
Moody's Investors Service upgraded CPG International LLC's d/b/a
The AZEK Company Inc. Corporate Family Rating to B1 from B3 and
Probability of Default Rating to B1-PD from B3-PD. Moody's also
affirmed the B2 rating on the company's first lien senior secured
term loan due May 2024. Finally, Moody's assigned an SGL-2
Speculative Grade Liquidity Rating to AZEK. The outlook remains
stable.

The upgrade of the CFR reflects the significant strengthening of
AZEK's credit profile following the completion of its initial
public offering of common stock that raised $817 million, which in
turn was used to repay approximately $675 million of debt. The debt
repaid included the company's $350 million senior unsecured notes
due 2025 (the rating on which will be withdrawn) and approximately
$326 million of its first lien senior secured term loan, leaving a
remaining outstanding balance of about $478.5 million. Moody's
expects that in the next 12 to 18 months AZEK will operate with
adjusted debt to EBITDA in the 3.5x to 4.0x range and EBITA to
interest coverage of around 4.0x. These levels are somewhat weaker
than pro forma credit metrics for March 31, 2020 given Moody's
expectation of the negative impact of the coronavirus pandemic on
end market demand. AZEK's leverage pro forma for IPO stood at 3.3x
as of March 31, 2020 compared to 6.9x before the transaction. Pro
forma EBITA to interest coverage of 4.7x is an improvement from
1.8x prior to the debt repayment given the elimination of about $50
million in interest expense, which will also benefit the company's
cash flow. The transaction has also improved AZEK's pro forma debt
to revenue measure to 70% from about 150%.

The affirmation of the first lien senior secured term loan rating
at B2, one notch below the company's CFR, reflects the increase in
the expected loss absorption of this instrument upon elimination of
the unsecured debt, and its junior position in the capital
structure to the ABL facility.

The assignment of the SGL-2 Speculative Grade Liquidity rating
reflects Moody's expectation of a good liquidity profile for AZEK
over the next 12 to 15 months, supported by positive free cash
flow, access to a $150 million revolving credit facility and the
lack of debt maturities until March 2022, when the revolver
expires.

The following rating actions were taken:

Issuer: CPG International LLC:

Upgrades:

Corporate Family Rating, Upgraded to B1 from B3

Probability of Default Rating, Upgraded to B1-PD from B3-PD

Affirmations:

Senior Secured Bank Credit Facility due May 5, 2024, Affirmed B2
(LGD4)

Assignments:

Speculative Grade Liquidity Rating, Assigned SGL-2

Outlook Actions:

Outlook, Remains Stable

Withdrawals:

Senior Unsecured Regular Bond/Debenture due May 15,
2025, Withdrawn, previously rated Caa2 (LGD5)

RATINGS RATIONALE

AZEK's B1 CFR is supported by: 1) the company's solid market
position in the low maintenance building products industry; 2) the
majority of revenue being generated from the residential repair and
remodel end market, which tends to be more stable during a
recession than new construction; 3) Moody's expectation of good
operating margins; 4) Moody's expectation that AZEK will maintain a
relatively conservative financial strategy post IPO, including
modest leverage in line with the company's new stated net debt
leverage target of 2.0x to 3.0x; and 5) good liquidity, supported
by positive cash flow and access to its revolving credit facility.

On the other hand, the credit profile reflects: 1) exposure to the
cyclical residential and repair/remodeling end markets and the
expectation of weaker demand over the next year caused by the
coronavirus outbreak; 2) the competition that AZEK faces in the low
maintenance building products segment; and 3) sensitivity of
operating margins, cash flows and liquidity to changes in raw
material costs.

Governance consideration was material to this credit rating action.
Governance considerations included the company's financial policy,
including its decision to issue equity to the public, become an SEC
filer, and set a conservative leverage target. The rapid spread of
the coronavirus outbreak, deteriorating global economic outlook,
low oil prices, and high asset price volatility have created an
unprecedented credit shock across a range of sectors and regions.
Moody's regards the coronavirus outbreak as a social risk under its
ESG framework, given the substantial implications for public health
and safety.

FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS

The ratings could be upgraded if the company demonstrates a track
record of operating as a public company with conservative financial
strategies, increases independent board representation, sustains
adjusted debt to EBITDA below 3.5x and EBITA to interest coverage
above 4.0x, and maintains good liquidity. Stable end market
conditions would also be an important consideration for a ratings
upgrade.

Ratings could be downgraded if revenue and earnings decline
materially due to weakness in demand for key products, leverage
approaches 4.5x, interest coverage declines below 3.0x, the
company's financial strategies grow aggressive, or liquidity
deteriorates.

The principal methodology used in these ratings was Manufacturing
Methodology published in March 2020.

The AZEK Company Inc., headquartered in Chicago, Illinois, is a
leading manufacturer of premium, low maintenance building products
for residential (AZEK Building Products, TimberTech, Versatex and
UltraLox) and commercial (Scranton Products and Vycom) markets in
the U.S. and Canada. The company's product offerings include deck,
trim, rail, pavers, partitions, lockers, and plastic sheet
products. Since June 2020 AZEK is publicly traded, with
approximately 72% of ownership retained by Ares Management and
Ontario Teachers' Private Capital. In the LTM period ended March
31, 2020, the company generated approximately $848 million in
revenue.


CREATIVE HAIRDRESSERS: Meyers Updates on Multiple Parties
---------------------------------------------------------
In the Chapter 11 cases of Creative Hairdressers, Inc., the law
firm of Meyers, Rodbell & Rosenbaum, P.A. submitted an amended
verified under Rule 2019 of the Federal Rules of Bankruptcy
Procedure, to disclose an updated list of the following multiple
creditors that it is representing:

Prince George's County, Maryland
14721 Gov. Oden Bowie Drive
Upper Marlboro, Maryland 20772

* Statutory First Priority Lien
  Fiscal Year 2021
  Personal Property Taxes (Est. $1,475.89)
  Account No. 3340312

* Statutory First Priority Lien
  Fiscal Year 2021
  Personal Property Taxes (Est. $1,188.49)
  Account No. 3835808

* Statutory First Priority Lien
  Fiscal Year 2021
  Personal Property Taxes (Est. $771.48)
  Account No. 2677664

* Statutory First Priority Lien
  Fiscal Year 2021
  Personal Property Taxes (Est. $688.83)
  Account No. 2677672

* Statutory First Priority Lien
  Fiscal Year 2021
  Personal Property Taxes (Est. $600.78)
  Account No. 2690915

Charles County, Maryland
P.O. Box 2607
La Plata, Maryland 20646

* Statutory First Priority Lien
  Fiscal Year 2021
  Personal Property Taxes (Est. $1,266.76)
  Account No. F00688283

Calvert County, Maryland
175 Main Street
Prince Frederick, Maryland 20678

* Statutory First Priority Lien
  Fiscal Year 2021
  Personal Property Taxes (Est. $1,459.76)
  Account No. F00688283

Counsel for Prince George's County, MD, Charles County, MD and
Calvert County, MD can be reached at:

          MEYERS, RODBELL & ROSENBAUM, P.A.
          Nicole C. Kenworthy, Esq.
          6801 Kenilworth Avenue, Suite 400
          Riverdale Park, MD 20737
          Tel: (301) 699-5800
          Email: bdept@mrrlaw.net

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

                    About Creative Hairdressers

Creative Hairdressers, Inc. -- http://www.ratnerco.com/-- operates

over 750 salons nationwide under the trade names Hair Cuttery,
BUBBLES, and Salon Cielo.  The company began in 1974 to create a
quality whole-family salon where stylists could make a good
living.
Today, the family of salons continues to share this commitment
with a transparent, people-first culture that offers the best
career trajectory in the industry for salon professionals, field
leaders and corporate employees.

Creative Hairdressers and Ratner Companies, L.C., sought Chapter
11
protection (Bankr. D. Md. Case No. 20-14583 and 20-14584) on April
23, 2020.

Creative Hairdressers was estimated to have $1 million to $10
million in assets and $10 million to $50 million in liabilities.

Creative Hairdressers is represented by Shapiro Sher Guinot &
Sandler.  Carl Marks Advisors is acting as strategic financial
advisor to assist the Company in the process.  A&G Realty Partners
is the real estate advisor.  Epiq Bankruptcy Solutions is the
claims agent.

HC Salon Holdings, Inc., is represented by DLA Piper LLP (US).


CRYOLIFE INC: Moody's Hikes Rating on First Lien Loans to B1
------------------------------------------------------------
Moody's Investors Service upgraded CryoLife, Inc.'s first lien
credit facility to B1 from B2.  Moody's also affirmed the company's
B2 CFR and B2-PD PDR.  The Speculative Grade Liquidity rating of
SGL-1 is unchanged.  The outlook remains stable.

The upgrade of the first lien credit facility rating reflects
CryoLife's issuance of $100 million of unsecured convertible notes
(unrated).  The first lien credit facility will benefit from the
loss absorption provided by this new, junior debt in the capital
structure.

The affirmation of CryoLife's CFR reflects the company's very good
liquidity following the issuance of the convertible notes, with
cash balances of approximately $130 million as of March 31, 2020
(pro forma for the convertible note issuance and repayment of
borrowings under its revolver). The company also has full access to
its $30 million revolving credit facility and ample covenant
headroom.

While pro forma debt/EBITDA (on a gross debt basis) is high, at
near 8 times, Moody's expects the increase in leverage will be
temporary and that leverage will moderate over time. The
affirmation also reflects Moody's expectations that the company
will see some pressure on revenues in the near term because of the
coronavirus pandemic. However, relative to many other medical
device companies, Moody's expects the impact overall will be
moderate and temporary. This is because a significant portion of
CryoLife's products are used in emergency procedures or in
situations where patients will be at risk of death if they do not
receive the treatment.

The stable outlook reflects Moody's expectations that CryoLife's
net debt/EBITDA will trend toward 5 times over the course of 2021
while maintaining its very good liquidity profile.

Rating Actions:

Upgrades:

Issuer: CryoLife, Inc.

  Senior Secured First Lien Bank Credit Facility, Upgraded to
  B1 (LGD3) from B2 (LGD3)

Affirmations:

Issuer: CryoLife, Inc.

  Probability of Default Rating, Affirmed B2-PD

  Corporate Family Rating, Affirmed B2

Outlook Actions:

Issuer: CryoLife, Inc.

  Outlook, Remains Stable

RATINGS RATIONALE

CryoLife's B2 CFR reflects its narrow focus on aortic medical
devices and tissue processing, as well as limited scale, with
revenue of approximately $275 million. The company is reliant on
three product groups for 67% of its revenue. The ratings also
reflect Moody's expectations that the company's volumes will
stabilize in the next couple of quarters as patients with severe
conditions using the company's products cannot defer procedures for
an extended period. Net debt to EBITDA is expected to trend toward
5x over the course of 2021 as earnings recover. The rating also
reflects CryoLife's conservative financial policies noting its
recent issuance of convertible debt to bolster liquidity. The
company does not undertake share repurchases, even to offset
dilution from the company's significant stock compensation expense.
CryoLife has a credible market presence in its key products, as
well as a meaningful level geographic diversification with 45% of
sales generated outside the United States.

FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS

Ratings could be upgraded if the company is able to return to
sustained high single digit growth in revenue and EBITDA. Further
diversification of the portfolio by product and geography would be
also support positive rating action. Quantitatively, ratings could
be upgraded if debt/EBITDA is sustained below 4 times while
maintaining very good liquidity.

Ratings could be downgraded if the depth and duration of the impact
of the coronavirus pandemic is deeper or longer than Moody's
current expectations, or if CryoLife's financial policies became
more aggressive. Quantitatively, ratings could be downgraded if net
debt to EBITDA is unlikely to decline below 5 times over the course
of 2021, if free cash flow (excluding investments in growth
initiatives) is negative or if the company does not sustain its
very good liquidity profile while gross debt levels remains
elevated.

Headquartered in suburban Atlanta, Georgia, CryoLife is a leader in
the manufacturing, processing, and distribution of medical devices
and implantable tissues used in cardiac and vascular surgical
procedures focused on aortic repair. CryoLife markets and sells
products in more than 100 countries worldwide. Revenues are around
$275 million. The company is publicly traded.

The principal methodology used in these ratings was Medical Product
and Device Industry published in June 2017.


DELUXE EXPRESS: Case Summary & 16 Unsecured Creditors
-----------------------------------------------------
Debtor: Deluxe Express, Inc.
        13225 Wood Duck Drive
        Plainfield, IL 60585

Business Description: Deluxe Express, Inc. is a freight shipping
                      and trucking company running freight hauling
                      business from Plainfield, Illinois.

Chapter 11 Petition Date: July 1, 2020

Court: United States Bankruptcy Court
       Northern District of Illinois

Case No.: 20-13381

Judge: Hon. David D. Cleary

Debtor's Counsel: David Freydin, Esq.
                  LAW OFFICES OF DAVID FREYDIN
                  8707 Skokie Blvd
                  Suite 305
                  Skokie, IL 60077
                  Tel: 888-536-6607
                  E-mail: david.freydin@freydinlaw.com

Total Assets: $1,032,142

Total Liabilities: $2,694,778

The petition was signed by Igoris Geguzinskas, president.

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

                       https://is.gd/8104mR


DENBURY RESOURCES: Moody's Cuts PDR to Ca-PD, Outlook Negative
--------------------------------------------------------------
Moody's Investors Service downgraded Denbury Resources Inc.'s
Probability of Default Rating to Ca-PD from Caa2-PD, Corporate
Family Rating to Ca from Caa2, ratings on its senior secured second
lien debt to Ca from Caa2 and ratings on its senior subordinated
debt to C from Ca. The SGL-4 Speculative Grade Liquidity Rating is
unchanged. The rating outlook is negative.

"The downgrade of Denbury Resources' ratings reflects the high
probability the company will default on its debt obligations after
it elected not to make an approximately $8 million interest payment
due on June 30th with respect to the 6-3/8% convertible senior
notes due 2024," commented James Wilkins, Moody's Vice President.

Downgrades:

Issuer: Denbury Resources Inc.

  Probability of Default Rating, Downgraded to Ca-PD from Caa2-PD

  Corporate Family Rating, Downgraded to Ca from Caa2

  Senior Subordinated Notes, Downgraded to C (LGD6) from Ca (LGD6)

  Senior Secured Notes, Downgraded to Ca (LGD3) from Caa2 (LGD4)

Outlook Actions:

Issuer: Denbury Resources Inc.

Outlook, Remains Negative

RATINGS RATIONALE

The downgrade of Denbury's CFR to Ca following the missed interest
payment due on June 30th reflects Moody's expectation the company
will default on its debt obligations and the debt holders' recovery
rate will be low. (The company has a 30-day grace period to make
the interest payment before such non-payment constitutes an event
of default with respect to the convertible senior notes due 2024.)
Moody's believes Denbury has an untenable capital structure as a
result of the high leverage, limited options to refinance debt and
a large interest expense burden. Low oil commodity prices that have
not allowed the company to generate significant positive free cash
flow and the need to address $636 million (as of March 31, 2020) of
notes maturing in 2021 have contributed to the company's need to
restructure its balance sheet. Denbury shed nearly $1.3 billion in
debt since 2014, through debt exchanges, open market purchases of
debt at discounts to par and exercising the conversion option on
its convertible debt, but it continues to be challenged to generate
meaningful cash flow (retained cash flow to debt was less than 20%
for the twelve months ended March 31, 2020). Low commodity prices,
potential difficulty in selling assets, a PV-10 value of reserves
at current oil prices below the par value of debt and low bond
trading prices suggest a low recovery rate for note holders.

The rapid spread of the coronavirus outbreak, deteriorating global
economic outlook, low oil prices, and high asset price volatility
have created an unprecedented credit shock across a range of
sectors and regions. Moody's regards the coronavirus outbreak as a
social risk under its ESG framework, given the substantial
implications for public health and safety. Its action also reflects
the impact on Denbury of the deterioration in credit quality it has
triggered, given Denbury's exposure to oil demand and prices, which
has left Denbury vulnerable to shifts in market demand and
sentiment in these unprecedented operating conditions.

Denbury ratings also reflect its moderate scale and relatively high
cost enhanced oil recovery operations. The company's two areas of
operation (the US Gulf Coast and the Rocky Mountain region) produce
over 95% oil and offer some asset diversification. The enhanced oil
recovery operations, which account for more than 60% of production,
are more capital intense upfront, require longer lead times and
have higher operating costs, but also provide for a lower risk
asset base, with no exploration risk and long-lived reserves. The
company owns extensive CO2 supply infrastructure as well as CO2
reserves.

The senior secured second lien notes are rated Ca, the same level
as the Ca CFR. The $1.6 billion of secured second lien debt, which
accounts for a majority of Denbury's third party debt, has a lower
priority claim relative to the first lien secured obligations under
the revolving credit facility and more senior priority claim
relative to the unsecured subordinated debt (rated C, one notch
below the CFR) and senior unsecured convertible debt. Moody's
believes the Ca ratings on the secured notes are more appropriate
than the ratings suggested by Moody's Loss Given Default (LGD)
methodology. The C rating on the unsecured subordinated notes
reflects the limited prospects for recovery on the notes.

The SGL-4 Speculative Grade Liquidity Rating reflects weak
liquidity, driven by the high likelihood Denbury will default on
the obligations under its debt agreements after missing an interest
payment on June 30th. The company's primary sources of liquidity
are its cash balances (following the June 29th draw of $200 million
from its revolving credit facility due 2021) and cash flow from
operations. Denbury's recent $200 million borrowing on its
revolving credit facility on June 29th, left it little borrowing
capacity, but sufficient liquidity to continue its operations, if
it is relieved of its interest expense burden and need to refinance
debt maturing in 2021. The revolver borrowing base is set at $615
million, but limited to $275 million (plus letters of credit) until
the fall 2020 borrowing base redetermination. The revolver matures
in December 2021 (with springing maturities beginning in February
2021, if the second lien notes due May 2021 are not refinanced).
The revolver had $95 million of letters of credit outstanding as of
June 30th. The credit facility's financial covenants include a
maximum total debt to EBITDA ratio of 5.25x through December 31,
2020 (4.5x thereafter), maximum senior secured debt to EBITDA ratio
of 2.5x, a minimum interest coverage ratio of 1.25x and a minimum
current ratio of 1x. The company has $585 million of senior secured
second lien notes maturing in May 2021 and $51 million of
subordinated notes maturing in August 2021.

The negative outlook reflects the likelihood the company will
default on its debt obligations as it restructures its debt.

FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS

The ratings could be downgraded if asset values weaken further and
Moody's assessment of expected recovery worsens. Although unlikely,
an upgrade would be considered if Denbury refinances its debt
maturing in 2021 and 2022, and maintains interest coverage of at
least 1.5x, adequate liquidity as well as stable production.

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

Denbury Resources Inc., headquartered in Plano, Texas, is an
independent oil and gas company with operations in the Gulf Coast
and Rocky Mountain regions. The company has a significant emphasis
on carbon dioxide enhanced oil recovery (CO2 EOR) operations used
to recover oil from mature fields.


DIAMOND OFFSHORE: Committee Hires Akin Gump as Legal Counsel
------------------------------------------------------------
The official committee of unsecured creditors of Diamond Offshore
Drilling, Inc. and its debtor affiliates seeks approval from the
U.S. Bankruptcy Court for the Southern District of Texas to retain
Akin Gump Strauss Hauer & Feld LLP as its counsel.

The Committee requires Akin Gump to:

     (a) advise the Committee with respect to its rights, duties
and powers in the Chapter 11 Cases;

     (b) assist and advise the Committee in its consultations and
negotiations with the Debtors and other parties in interest
relative to the administration of the Chapter 11 Cases;

     (c) assist the Committee in analyzing the claims of the
Debtors' creditors and the Debtors' capital structure and in
negotiating with holders of claims and equity interests;

     (d) assist the Committee in its investigation of the acts,
conduct, assets, liabilities and financial condition of the Debtors
and their insiders and of the operation of the Debtors'
businesses;

     (e) assist the Committee in its analysis of, and negotiations
with, the Debtors or any third party concerning matters related to,
among other things, the assumption or rejection of certain leases
of non-residential real property and executory contracts, asset
dispositions, going concern sale transactions, financing
transactions, other transactions and the terms of one or more plans
of reorganization for the Debtors and accompanying disclosure
statements and related plan documents;

     (f) assist and advise the Committee as to its communications
to the general creditor body regarding significant matters in the
Chapter 11 Cases;

     (g) represent the Committee at all hearings and other
proceedings before this Court;

     (h) review and analyze applications, orders, statements of
operations and schedules filed with the Court and advise the
Committee as to their propriety and, to the extent deemed
appropriate by the Committee, support, join or object thereto;

     (i) advise and assist the Committee with respect to any
legislative, regulatory or governmental activities;

     (j) assist the Committee in its review and analysis of the
Debtors' various agreements;

     (k) prepare, on behalf of the Committee, any pleadings,
including, without limitation, motions, memoranda, complaints,
adversary complaints, objections or comments in connection with any
matter related to the Debtors or the Chapter 11 Cases;

     (l) investigate and analyze any claims belonging to the
Debtors' estates; and

     (m) perform such other legal services as may be required or
are otherwise deemed to be in the interests of the Committee in
accordance with the Committee's powers and duties as set forth in
the Bankruptcy Code, Bankruptcy Rules or other applicable law.

Akin Gump will be paid at these hourly rates:

     Partners           $995 – $1,995
     Senior Counsel     $735 – $1,510
     Counsel            $735 - $1,510
     Associates         $535 – $1,070
     Paraprofessionals  $100 – $455

Akin Gump attorneys and their current hourly rates:

     Ira S. Dizengoff    $1,595
     Philip C. Dublin    $1,595
     Naomi Moss          $1,225
     Marty Brimmage      $1,595
     Lacy Lawrence       $1,350
     Kevin M. Eide       $1,195
     Patrick C. Chen     $775
     Matthew Breen       $615

Philip C. Dublin, a partner of Akin Gump, disclosed in a court
filing that her firm is "disinterested" as defined in section
101(14) of the Bankruptcy Code.

In accordance with Appendix B-Guidelines for reviewing fee
applications filed by attorneys in larger Chapter 11 cases, Mr.
Dublin disclosed that:

     (a) Akin Gump did not agree to any variations from, or
alternatives to, its standard or customary billing arrangements for
this engagement;

     (b) No rate for any of the professionals included in this
engagement varies based on the geographic location of the Chapter
11 Cases;

     (c) Akin Gump did not represent any member of the Committee in
connection with the Debtors' Chapter 11 Cases prior to its
retention by the Committee;

     (d) Akin Gump expects to develop a prospective budget and
staffing plan to comply reasonably with the U.S. Trustee's request
for information and additional disclosures, as to which Akin Gump
reserves all rights; and

     (e) The Committee has approved Akin Gump's proposed hourly
billing rates.

The firm can be reached through:

      Philip C. Dublin, Esq.
      AKIN GUMP STRAUSS HAUER & FELD LLP
      One Bryant Park
      New York, NY 10036
      Telephone: (212) 872-1000
      Facsimile: (212) 872-1002
      Email: pdublin@akingump.com

              About Diamond Offshore Drilling

Diamond Offshore Drilling, Inc. -- http://www.diamondoffshore.com/
-- provides contract drilling services to the energy industry
around the globe with a fleet of 15 offshore drilling rigs,
consisting of four drillships and 11 semi-submersible rigs,
including two rigs that are currently cold stacked.  The Company's
current fleet excludes the Ocean Confidence, which it expects to
complete the sale of in the first quarter of 2020. It employs 2,500
people and has revenue of $981 million in 2019.

As of Dec. 31, 2019, the Company had $5.83 billion in total assets,
against $2.60 billion in total liabilities.

On April 26, 2020, Diamond Offshore and its affiliates sought
Chapter 11 protection (Bankr. S.D. Tex. Lead Case No. 20-32307).

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

The Company's bankruptcy advisers include investment banker Lazard
Freres & Co. LLC.; financial advisor Alvarez & Marshall North
America LLC; and attorneys Porter Hedges LLP and Paul, Weiss,
Rifkind, Wharton & Garrison LLP.  Prime Clerk LLC is the claims
agent.


DIAMOND OFFSHORE: Committee Taps Berkeley as Financial Advisor
--------------------------------------------------------------
The official committee of unsecured creditors of Diamond Offshore
Drilling, Inc. and its debtor affiliates seeks
approval from the U.S. Bankruptcy Court for the Southern District
of Texas to retain Berkeley Research Group, LLC as its financial
advisor.

The committee requires Berkeley to:

     a) assist the Committee in assessing the Debtors' financial
performance, relative to projections and any relevant operational
issues, on an ongoing basis;

     b) monitor liquidity and cash flows throughout the Cases and
scrutinizing cash disbursements and capital requirements,
including, but not limited to, critical and foreign vendor payments
and other payments permitted pursuant to first day motions;

     c) analyze the Debtors' business plan / operational
restructuring and monitoring the implementation of any strategic
initiatives;

     d) advise and assist the Committee in its assessment of the
Debtors' employee needs and related costs, including any recent
(including prepetition) employee bonuses or retention payments and
any proposed employee bonuses such as the proposed Key Employee
Incentive Plan for the Debtors' insiders,
and providing expert testimony related thereto;

     e) assist in the development and review of a cost/benefit
analysis with respect to the assumption or rejection of executory
contracts and leases;

     f) provide support for PWP and Akin Gump as necessary to
address issues for which they have been engaged;

     g) analyze relief requested by the Debtors in connection with
their cash management system, including proper controls related to
and financial transparency into intercompany transactions and
claims between Debtor entities and non-debtor affiliates;

     h) analyze both historical and ongoing related party
transactions;

     i) advise the Committee in its analysis of the Debtors' and
non-Debtor affiliates' historical, current, and projected financial
affairs;

     j) assist in the review of financial related disclosures,
including the Debtors' Schedules of Assets and Liabilities,
Statements of Financial Affairs and Monthly Operating Reports;

     k) advise and assist the Committee and Akin Gump in reviewing
and evaluating any court motions, applications, or other forms of
relief, filed or to be filed by the Debtors or any other parties in
interest, as necessary and appropriate;

     l) advise and assist the Committee and Akin Gump in their
review of any potential prepetition liens of secured parties;

     m) identify and develop strategies related to the Debtors'
intellectual property;

     n) assess the Debtors' international operations and analyzing
the impact of any insolvency proceedings in foreign countries;

     o) advise the Committee with respect to any potential
preference payments, fraudulent conveyances, and other potential
causes of action that the Debtors' estates may hold against
insiders and/or third parties;

     p) provide support to the Committee and Akin Gump regarding
potential litigation strategies;

     q) monitor the Debtors' claims management process, including
analyzing all classes of claims and guarantees and summarizing
claims by entity, and preparing a waterfall of expected recoveries
to creditor classes under various settlement scenarios;

     r) review liquidity, cash flow, and budget projections and
forecasts in connection with any proposed plan of reorganization
and/or business plan;

     s) work with the Debtors' tax advisors to ensure that any
restructuring or sale transaction is structured in a tax efficient
manner;

     t) attend Committee meetings and court hearings as may be
required; and

     u) perform other matters as may be requested by the Committee
from time to time, including: rendering expert testimony, issuing
expert reports and/or preparing litigation or forensic analyses
that have not yet been identified but as may be requested by the
Committee and Akin Gump.

The current standard hourly rates for Berkeley personnel are:

     Managing Director   $825 - $1,095
     Director            $625 - $835
     Professional Staff  $295 - $740
     Support Staff       $135 - $260

Christopher J. Kearns, managing director of Berkeley, attests that
his firm is a "disinterested person" as that term is defined in
Sec. 101(14) and that the firm neither holds nor represents any
interest adverse to the estates.

The firm can be reached through:

     Christopher J. Kearns
     Berkeley Research Group, LLC
     810 Seventh Avenue, Suite 4100
     New York, NY 10019
     Tel: 646-205-9320
     Fax: 646-454-1174

              About Diamond Offshore Drilling

Diamond Offshore Drilling, Inc. -- http://www.diamondoffshore.com/
-- provides contract drilling services to the energy industry
around the globe with a fleet of 15 offshore drilling rigs,
consisting of four drillships and 11 semi-submersible rigs,
including two rigs that are currently cold stacked.  The Company's
current fleet excludes the Ocean Confidence, which it expects to
complete the sale of in the first quarter of 2020. It employs 2,500
people and has revenue of $981 million in 2019.

As of Dec. 31, 2019, the Company had $5.83 billion in total assets,
against $2.60 billion in total liabilities.

On April 26, 2020, Diamond Offshore and its affiliates sought
Chapter 11 protection (Bankr. S.D. Tex. Lead Case No. 20-32307).

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

The Company's bankruptcy advisers include investment banker Lazard
Freres & Co. LLC.; financial advisor Alvarez & Marshall North
America LLC; and attorneys Porter Hedges LLP and Paul, Weiss,
Rifkind, Wharton & Garrison LLP.  Prime Clerk LLC is the claims
agent.


DIAMOND OFFSHORE: Committee Taps Perella as Investment Banker
-------------------------------------------------------------
The official committee of unsecured creditors of Diamond Offshore
Drilling, Inc. and its debtor affiliates seeks
approval from the U.S. Bankruptcy Court for the Southern District
of Texas to retain Perella Weinberg Partners LP , as its investment
banker, nunc pro tunc to May 15, 2020.

The committee requires Perella Weinberg to:

     (a) familiarize itself with the business, operations,
liquidity situation, assets and liabilities, financial condition
and prospects of the Debtors;

     (b) review, analyze and report to the committee with respect
to the Debtors' financial condition and outlook;

     (c) evaluate the Debtors' debt capacity in light of their
projected cash flows;

     (d) review and provide an analysis of any valuation of the
Debtors or their assets;

     (e) review and provide an analysis of any proposed capital
structure for the Debtors;

     (f) advise and attend meetings with the committee as well as
due diligence meetings with the Debtors or other third parties as
appropriate;

     (g) advise and assist the committee in its evaluation of the
Debtors' near-term liquidity including various financing
alternatives;

     (h) review, analyze and advise the committee with respect to
the existing debt structure of the Debtors, and refinancing
alternatives to existing debt;

     (i) explore alternative strategies for the Debtors as a
stand-alone business;

     (j) develop, evaluate and assess the financial issues and
options concerning any proposed transaction;

     (k) analyze and explain any transaction to the committee;  

     (l) assist the committee and participate in its negotiations
with the Debtors on behalf of the Committee;

     (m) participate in hearings before the Court with respect to
the matters upon which PWP has provided advice and/or analysis,
including, as relevant, coordinating with the Committee's counsel
with respect to testimony in
connection therewith;

     (n) provide valuations of the Debtors' total enterprise value,
value of the Debtors on an entity by entity basis or any of the
Debtors' assets or businesses, as requested by the Committee or the
Committee's counsel; and

     (o) provide such other advisory services in connection with
the chapter 11 cases as the Committee or the Committee's counsel
may from time to time reasonably request and which are customarily
provided by investment bankers in similar situations.  

Perella Weinberg will be compensated as follows:

-- Monthly Fee. A monthly fee equal to $175,000 per month until
the expiration or termination of the Engagement Letter. Fifty
percent of any Monthly Fee payments actually paid to Perella
Weinberg after Perella Weinberg has been paid four full Monthly
Fees shall be credited once (without duplication) against any
Completion Fee due to Perella Weinberg.

-- Completion Fee. Upon the effective date of a chapter 11 plan so
long as the Committee supports such plan or does not prosecute an
objection to confirmation of such plan that is not resolved
consensually, a fee of $3,750,000.

Alexander Tracy, a partner at Perella Weinberg, disclosed in a
court filing that his firm is a "disinterested person" as defined
in Section 101(14) of the Bankruptcy Code.

Perella can be reached through:

     Alexander Trac
     Perella Weinberg Partners LP
     767 Fifth Avenue
     New York, NY 10153
     Tel: 212-287-3200
     Fax: 212-287-3201

              About Diamond Offshore Drilling

Diamond Offshore Drilling, Inc. -- http://www.diamondoffshore.com/
-- provides contract drilling services to the energy industry
around the globe with a fleet of 15 offshore drilling rigs,
consisting of four drillships and 11 semi-submersible rigs,
including two rigs that are currently cold stacked.  The Company's
current fleet excludes the Ocean Confidence, which it expects to
complete the sale of in the first quarter of 2020. It employs 2,500
people and has revenue of $981 million in 2019.

As of Dec. 31, 2019, the Company had $5.83 billion in total assets,
against $2.60 billion in total liabilities.

On April 26, 2020, Diamond Offshore and its affiliates sought
Chapter 11 protection (Bankr. S.D. Tex. Lead Case No. 20-32307).

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

The Company's bankruptcy advisers include investment banker Lazard
Freres & Co. LLC.; financial advisor Alvarez & Marshall North
America LLC; and attorneys Porter Hedges LLP and Paul, Weiss,
Rifkind, Wharton & Garrison LLP.  Prime Clerk LLC is the claims
agent.


DIAMOND OFFSHORE: Hires Deloitte & Touche as Independent Auditor
----------------------------------------------------------------
Diamond Offshore Drilling, Inc. and its debtor affiliates seek
approval from the U.S. Bankruptcy Court for the Southern District
of Texas to employ Deloitte & Touche LLP as their independent
auditor.

Diamond Offshore requires Deloitte & Touche to:

      (a) perform an integrated audit in accordance with the
standards of the Public Company Accounting Oversight Board (PCAOB)
(United States) to express opinions on (i) whether the Debtors'
financial statements for the period ended Dec. 31, 2020 are
presented fairly, in all material respects, in accordance with
accounting principles generally accepted in the United States of
America and (ii) the effectiveness of the Debtors' internal control
over financial reporting, as of Dec. 31, 2020, based on the
criteria established in Internal Control – Integrated Framework
issued by the Committee of Sponsoring Organizations of the Treadway
Commission; and

     (b) review the Debtors' condensed consolidated interim
financial information in accordance with the PCAOB Standards for
each of the quarters in the year ending December 31, 2020, prepared
for submission to the Securities and Exchange Commission.

Deloitte & Touche will be paid at these hourly rates:

     Partner / Principal / Managing Director  $520
     Senior Manager                           $460
     Manager                                  $380
     Senior                                   $290
     Staff                                    $220

Prior to the Petition Date, the Debtors paid Deloitte & Touche
$160,000 in the form of a retainer for services to be performed by
Deloitte & Touche.

Deloitte & Touche will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Gregory Foster, a partner at Deloitte & Touche, assured the Court
that the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtors and their estates.

Deloitte & Touche can be reached at:

     Gregory Foster
     Deloitte & Touche LLP
     1111 Bagby St., Suite 4500
     Houston, TX 77002-2591
     Phone:  +1 713 982 2000
     Fax:  +1 713 982 2001

              About Diamond Offshore Drilling

Diamond Offshore Drilling, Inc. -- http://www.diamondoffshore.com/
-- provides contract drilling services to the energy industry
around the globe with a fleet of 15 offshore drilling rigs,
consisting of four drillships and 11 semi-submersible rigs,
including two rigs that are currently cold stacked.  The Company's
current fleet excludes the Ocean Confidence, which it expects to
complete the sale of in the first quarter of 2020. It employs 2,500
people and has revenue of $981 million in 2019.

As of Dec. 31, 2019, the Company had $5.83 billion in total assets,
against $2.60 billion in total liabilities.

On April 26, 2020, Diamond Offshore and its affiliates sought
Chapter 11 protection (Bankr. S.D. Tex. Lead Case No. 20-32307).

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

The Company's bankruptcy advisers include investment banker Lazard
Freres & Co. LLC.; financial advisor Alvarez & Marshall North
America LLC; and attorneys Porter Hedges LLP and Paul, Weiss,
Rifkind, Wharton & Garrison LLP.  Prime Clerk LLC is the claims
agent.


DRIVE SHACK: Effects of COVID-19 Pandemic Cast Going Concern Doubt
------------------------------------------------------------------
Drive Shack Inc. filed its quarterly report on Form 10-Q,
disclosing a net loss of $17,362,000 on $61,135,000 of total
revenues for the three months ended March 31, 2020, compared to a
net loss of $14,600,000 on $53,952,000 of total revenues for the
same period in 2019.

At March 31, 2020, the Company had total assets of $501,423,000,
total liabilities of $453,512,000, and $47,911,000 in total
equity.

The Company said, "We temporarily closed all of our entertainment
golf and substantially all of our traditional golf venues,
eliminating substantially all of the Company's revenue sources.
The loss of revenues and uncertainty related to the COVID-19
pandemic raises substantial doubt about the Company's ability to
continue as a going concern.

"The ability of the Company to continue operations is dependent on
the degree of success of management's plans to manage existing cash
balances during the closure and to obtain additional financing to
fund its short-term liquidity requirements.  In order to manage
existing cash balances, management reduced spending broadly,
including furloughing a substantial majority of our employees,
pausing construction on future planned venues to reduce capital
spending, and suspending declaration of dividends on our preferred
stock, and also deferred payment of certain operating and corporate
expenditures.  The Company is actively seeking to sell its
remaining Traditional Golf property that is held-for-sale and
believes that a sale is probable and would mitigate the substantial
doubt raised by the COVID-19 pandemic and satisfy the Company's
estimated liquidity needs through 12 months from the issuance of
the financial statements.  The Company is also exploring additional
debt financing, including potential financing options made
available under the Coronavirus Aid, Relief, and Economic Security
("CARES") Act, public or private equity issuances, and additional
ways to strategically monetize our remaining real estate securities
and other investments.  However, there is no assurance that the
Company will be successful in raising additional capital or that
such additional funds will be available on acceptable terms, if at
all."

A copy of the Form 10-Q is available at:

                       https://is.gd/yO5lRN

Drive Shack Inc. owns and operates golf-related leisure and
entertainment businesses. Its Entertainment Golf Venues segment
operates an entertainment golf venue in Orlando, Florida. The
company was formerly known as Newcastle Investment Corp. and
changed its name to Drive Shack Inc. in December 2016. Drive Shack
Inc. was founded in 2002 and is based in New York, New York.



DRUMMOND INC: S&P Alters Outlook to Negative, Affirms 'BB' ICR
--------------------------------------------------------------
S&P Global Ratings revised the outlook on U.S.-based coal producer
Drummond Inc. to negative from stable and affirmed its 'BB' issuer
credit rating.

Low international thermal coal prices will erode cash flows and
profitability in 2020 and 2021.  The API2 and Newcastle indices --
the company's pricing benchmarks for thermal coal sales in Europe
and Asia -- have dropped 40%-50% since the beginning of 2019. The
COVID-19 pandemic that halted global economic activity coupled with
competition from cheaper Russian thermal imports in Europe
contributed to the decline of API2. As a result, S&P expects
Drummond's 2020 EBITDA to decline by 50% and EBITDA margins to
contract to about 13% from 21% in 2019. S&P anticipates an
additional 15% drop in EBITDA in 2021, assuming market prices
remain low and fixed-price contracts roll off. Approximately 60% of
Drummond's 2020 volumes are contracted at higher prices than
current market prices, which provides a boost in realizations in
2020. The current year's results were also pressured by lower
production in the first half due to coronavirus-related closures in
Colombia, which increased cash costs per ton.

Flexible cash cost structure will partially mitigate lower price
realizations.  S&P expects Drummond's cash cost per ton to decline
5%-10% due to lower energy prices, decreased royalty payments, and
favorable foreign exchange gains in 2020 and 2021. Drummond's
royalty payments are tied to international coal price benchmarks.
In addition, the company has locked in lower energy costs for its
fixed priced sales in 2020 and 2021 through hedging activity.
Finally, Drummond pays most of its operational expenses in
Colombian pesos, which has weakened versus the U.S. dollar, and S&P
expects this relationship to remain in place over the next 12
months. That should also benefit cash costs.

The company has shifted sales to the Asia-Pacific (APAC) region as
demand drops in U.S. and Europe.   Developed economies in Europe
and North America are rapidly exiting thermal coal generation and
transitioning to carbon-neutral fuel sources in effort to curb
carbon emissions. In response, Drummond continues to shift its
geographical sales mix from Europe to APAC, which now represents
nearly 70% of volumes sold versus 40% 12 months ago. APAC continues
to add coal capacity; however, its distance from that market gives
Australian and APAC producers a transportation cost advantage over
Drummond.

Free operating cash flows (FOCF) are likely to remain positive in
2020 and 2021.   S&P expects FOCF to increase from last year due to
working capital inflows and remain positive in the next 12 to 24
months. It expects the company to minimize its fixed charges
including capital expenditures in the next 12 months. In addition,
Drummond makes negligible interest payments because it does not
have funded debt and has no drawings on its cash revolver. The
rating agency believes Drummond's operating cash flows and its
sizable cash balance (built in 2018's strong export market)
provides a liquidity cushion against currently depressed thermal
prices.

The negative outlook reflects S&P's view that another 5% to 10%
decline in international thermal coal prices, perhaps due to
extended price competition from international producers, could lead
to Drummond's earnings and credit ratios worsening more than the
rating agency expects under its base case scenario. Its base case
assumes adjusted debt tops out at 2.5x EBITDA next year, with
interest coverage near 9x.

S&P could lower the rating if:

-- Coal prices dropped by 5%-10% from S&P's price assumptions in
the next 12 months, causing the company's adjusted leverage to
approach 3x.

-- Cash costs increase 5%-10% higher than S&P anticipates over the
next 12 months, which could happen if Drummond experiences
operational or rail disruptions or higher input costs.

-- Drummond's profitability is permanently impaired by greater
competition from lower cost producers in the APAC region. This
would weaken the company's competitive advantage in its
geographical markets due, in part, to industry shift away from
thermal coal.

S&P would revise the outlook to stable if:

-- The company's leverage decreased below 2x on adjusted basis;
and

-- EBITDA margins strengthened above 15% on sustained basis.

This could occur if thermal coal prices increase 10%-15% from S&P's
expectations in the next 12 months while the company maintains
EBITDA margins.


EAGLE ENERGY: Receiver's Sale of All of Vendor's US Assets Approved
-------------------------------------------------------------------
Judge Harlin DeWayne Hale of the U.S. Bankruptcy Court for the
Northern District of Texas authorized FTI Consulting Canada, Inc.,
the court-appointed receiver of Eagle Energy, Inc., Eagle Energy
Trust, Eagle Energy Holdings, Inc., and Eagle Hydrocarbons Inc.
("Vendor"), to sell all of the right, title, and interest of the
assets of Vendor located in the United States to Aguila Energy,
LLC.

The aggregate consideration to be paid by the Purchaser to Vendor
for Vendor's right, title and interest in and to the Assets will
consist of the following: (a) a credit bid and equivalent release
of Vendor and any applicable guarantors from any and all Actions
arising under, or on the Nise relating to, the Credit Agreement, in
an amount equal to $11 million; (b) the assumption of the Assumed
Liabilities; and (0) cash in an amount equal to $120,000.

The Canadian Court has duly entered the Canadian Sale Order, which,
among other things: (i) approves the sale of the Assets to the
Purchaser; and (ii) requests aid and recognition from this Court to
give effect to the Canadian Sale Order.

The Canadian Sale Order entered in the Canadian Proceedings is
granted comity, recognized, and given full force and effect in the
United States.

Given all of the circumstances of these Chapter 15 Cases and the
record before the Court, the Transaction constitutes a reasonable
exercise of the Vendor's and Receiver's business judgment and is
approved.

The PSA and all other ancillary documents, if any, and all of the
terms and conditions thereof, are approved, including without
limitation the releases set forth in the PSA.

The Purchaser is authorized, in its sole and absolute discretion,
pursuant to section 2.6 of the PSA, to (a) deliver to Vendor,
within one day prior to the Closing Date, notice of its election to
designate any Contract as (1) an Excluded Contract and/or (2) an
Assigned Contract and upon such designation such Contract will
constitute an Excluded Contract and/or an Assigned Contract, as the
case may be; and (b) within one day prior to the Closing Date, make
any corresponding modification to the applicable Cure Costs
identified on Exhibit J to the PSA.

No order concerning the distribution of the sale proceeds, no
distribution of the sale proceeds, and no allocation in connection
with either of the foregoing, whether based upon a valuation of the
Assets or otherwise, will affect or have an effect on: (i) the
Purchaser's tax basis, allocation, or other tax position regarding
the Assets; (ii) the manner in which the Assets are valued by
Purchaser for tax, accounting, or any other purposes; or (iii) how
the Purchaser accounts for the Assets in financial statements, or
otherwise.

Pursuant to Bankruptcy Rules 7062, 9014, 6004(h), and 6006(d), the
Order will be effective immediately upon entry and the Receiver,
the Vendor and Purchaser are authorized, but are not required, to
close the sale immediately upon entry of the Order, and any stay
periods under the Bankruptcy Code, in Bankruptcy Rules 7062,
6004(h), or 6006(d) or otherwise, are expressly waived.

A copy of the Agreement is available at
https://tinyurl.com/y78nuhud from PacerMonitor.com free of charge.

           About Eagle Energy, Inc.

Eagle Energy Inc. -- http://www.eagleenergy.com-- owns and
operates oil producing properties with development and exploitation
potential in Canada and the United States.  Eagle focuses its
acquisition efforts in Canada and the United States on high quality
producing properties with proven reserves and additional
development potential.  Eagle currently owns properties in Alberta,
and in Hardeman and Palo Pinto counties in Texas.

Eagle Energy, Inc. sought Chapter 15 protection (Bankr. N.D. Tex.
19-33868) on Nov. 20, 2019.  The case is assigned to Judge Barbara
J. Houser.

Deryck Helkaa at FTI Consulting Canada Inc. is appointed as the
Debtor's Foreign Representative.  The Foreign Representative tapped
Gregory Michael Wilkes, Esq., Louis R. Strubeck, Jr., Esq., and
Steve A. Peirce, Esq., at Norton Rose Fulbright US LLP as counsel.


EVOLUTIONARY GENOMICS: Has $242,000 Net Loss for March 31 Quarter
-----------------------------------------------------------------
Evolutionary Genomics, Inc., filed its quarterly report on Form
10-Q, disclosing a net loss of $241,816 on $12,500 of grant revenue
for the three months ended March 31, 2020, compared to a net loss
of $200,397 on $32,366 of grant revenue for the same period in
2019.

At March 31, 2020, the Company had total assets of $4,169,911,
total liabilities of $1,120,928, and $520,611 in total
stockholders' deficit.

Evolutionary Genomics said, "Sources of funding to meet prospective
cash requirements include the Company's existing cash balances and
investments along with grant funds.  As of March 31, 2020 we had
$10,653 in our bank accounts and $29,694 of trading securities.  On
April 17, 2020, the Company received $71,268 in funding from the
SBA under their Paycheck Protection Program and we expect that
most, if not all of this funding will be forgiven.  This will not
be enough to pay for our expenses for the year ending December 31,
2020 without any additional revenue from grants or licensing
revenue or additional capital infusions.  We are marketing our
banana genes in 2020 which may lead to revenue but may not be able
to market our soybean genes until the research is finished at an
indefinite date.  We have flexibility to reduce operating costs and
also to delay research projects.  We will require additional
capital to complete our projects.  These factors create substantial
doubt as to our ability to continue as a going concern."

A copy of the Form 10-Q is available at:

                       https://is.gd/PlhBBA

Evolutionary Genomics, Inc. engages in the research and
identification of positively selected genes in humans, animals, and
commercial crops. The company develops Adapted Traits Platform, a
technology platform to identify genes for enhancing crop plant
traits, such as yield, sugar content, biomass, drought tolerance,
and pest/disease resistance. It serves governmental organizations,
non-profit foundations, and commercial entities. The company was
incorporated in 1990 and is based in Castle Rock, Colorado.



EXIDE HOLDINGS: July 17 Auction of Substantially All Assets Set
---------------------------------------------------------------
Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the
District of Delaware authorized the bidding procedures of Exide
Holdings, Inc. and its affiliates in connection with the sale of
substantially all assets to a new entity formed by the Requisite
Exchange Priority Noteholders for the purpose of effecting the
Credit Bid Transaction for $430 million, subject to overbid.

The Debtors are selling all of their assets, in whole or in part,
including the following assets or businesses: (a)(i) the Industrial
Energy Americas business segment, (ii) the Transportation Americas
business segment, (iii) the Recycling Americas business segment,
(iv) any operating facilities located in any of the foregoing
business segments, or (v) any combination thereof ("Americas
Asset"); and (b)(i) the Transportation EMEA/ROW business segment,
(ii) the Industrial EMEA/ROW business segment, (iii) the Recycling
EMEA/ROW segment and (iv) any combination thereof ("Europe/ROW
Assets").

The Debtors are authorized to enter into the Europe/ROW Stalking
Horse Agreement and the Europe/ROW Stalking Horse Credit Bid will
be subject to higher or better Qualified Bids, in accordance with
the terms and procedures of the Bidding Procedures.

The Europe/ROW Stalking Horse Bid Protections are approved in their
entirety; provided, however, that with respect to any Expense
Reimbursement, (i) no Expense Reimbursement will be due if any DIP
Obligations are outstanding and have not been indefeasibly paid in
full, and (ii) any claim arising with respect to the Expense
Reimbursement will be junior to the DIP Superpriority Claims;
provided, further, that if the DIP Obligations have been
indefeasibly paid in full, the Europe/ROW Stalking Horse Bidder
will be entitled to the Expense Reimbursement for any amount not
otherwise paid pursuant to the DIP Order.

Solely in connection with the bidding process and at the Auction,
the Expense Reimbursement will be estimated in the amount of $2.5
million; provided, however, that such estimate does not impair or
limit the Europe/Row Stalking Horse Bidder's right to seek
allowance of such claim in an amount to exceed $2.5 million.

The Debtors are authorized, in the exercise of their reasonable
business judgment, and in consultation with the Consultation
Parties, to designate one or more stalking horse bidders, in
addition to the Europe/ROW Stalking Horse Credit Bidder, for one or
more of the Assets not included in the Europe/ROW Stalking Horse
Package and enter into purchase agreements with Additional Stalking
Horse Bidders for the sale of such Assets, in each case, in
accordance with the terms of the Order and the Bidding Procedures.


Subject to the terms of the Order, the DIP Order, and the Bidding
Procedures, the Debtors are authorized to offer each Additional
Stalking Horse Bidder the Additional Stalking Horse Bid
Protections, including a break-up fee; provided that all Bid
Protections must be negotiated by the Debtors, in consultation with
the Consultation Parties, subject to notice and an opportunity for
parties in interest to object.

If the Debtors select an Additional Stalking Horse, the Debtors
will file with the Court, serve on the Objection Notice Parties,
and cause to be published on the Prime Clerk Website, a (a) notice
setting forth the identity of the Additional Stalking Horse Bidder
and the material terms of such Additional Stalking Horse Agreement,
including the terms of the applicable Additional Stalking Horse Bid
Protections, and (b) a copy of the Additional Stalking Horse
Agreement.  

Objections to the provision of Bid Protections for any Additional
Stalking Horse Bidder will (a) be in writing; (b) comply with the
Bankruptcy Code, the Bankruptcy Rules, and the Local Rules; (c)
state, with specificity, the legal and factual bases thereof; and
(d) be filed with the Court and served on the Objection Notice
Parties within seven calendar days after service of the applicable
Notice of Additional Stalking Horse.

If a timely Bid Protection Objection is filed and served with
respect to an Additional Stalking Horse Agreement in accordance
with the Bidding Procedures and the Order, any Bid Protections
provided for under such agreement will not be deemed approved until
the Bid Protection Objection is resolved, either by agreement of
the objecting party and the Debtors, or by order of the Court
resolving such objection and approving the provision of Bid
Protections.

The salient terms of the Bidding Procedures are:

     a. Bid Deadline: July 10, 2020 at 4:00 p.m. (ET)

     b. Initial Bid: The Minimum Overbid Amount with respect to the
Europe/ROW Stalking Horse Bid will be at least $1 million plus the
Expense Reimbursement in the amount of $2.5 million.

     c. Deposit: 10% of the Purchase Price

     d. Auction: The Auction will take place on July 17, 2020
beginning at 10:00 a.m. (ET) either (i) at the offices of Weil,
Gotshal & Manges LLP, 767 Fifth Avenue, New York, New York 10153 or
(ii) virtually pursuant to procedures to be timely filed by the
Debtors on the Bankruptcy Court's docket, or such other later date
as may be determined by the Debtors in consultation with the
Consultation Parties.

     e. Bid Increments: To be determined by the Debtors in
consultation with the Consultation Parties and announced 24 hours
in advance of the Auction

     f. Sale Hearing: July 30, 2020 at 10:00 a.m. (ET)

     g. Sale Objection Deadline: July 27, 2020 at 4:00 p.m. (ET)

     h. Closing: (i) Aug. 27, 2020 for Americas Sale Transaction,
(ii) Sept. 16, 2020 for Europe/ROW Sale Transaction

     i. Pursuant to section 363(k) of the Bankruptcy Code, persons
or entities holding a perfected security interest in any Assets
may, seek to submit a "credit bid" for such Assets, to the extent
permitted by applicable law, any Bankruptcy Court orders, and the
documentation governing the Debtors' prepetition or post-petition
secured credit facilities, and subject to any applicable
limitations set forth in the Prepetition Intercreditor Agreement
dated as of June 17, 2019.

     j. The sale will be free and clear of any and all liens,
claims, interests, and other encumbrances, with any such liens,
claims, interests, and encumbrances to attach to the proceeds of
the applicable sale.

The Europe/ROW Stalking Horse Credit Bid provides for consideration
of $430 million, including a $70 million credit bid on account of
principal of Exchange Priority Notes, as well as the assumption
(and continuation) of certain liabilities, including obligations
outstanding under the Superpriority Notes Indenture and the Interim
Financing.  The Europe/ROW Stalking Horse Credit Bid is subject to
higher or better offers submitted in accordance with the terms and
conditions of these Bidding Procedures.

In connection with the Europe/ROW Stalking Horse Agreement or any
other bid by or on behalf of any of the Note Secured Parties which
involves a credit bid for assets of the Debtors that include any
ABL Priority Collateral, the portion of any such bid that includes
such ABL Priority Collateral will only be made if the Discharge of
ABL Debt has occurred prior to, or occurs at the time of, the sale
or other disposition of the assets subject to such bid.

The Sale Notice is approved.

Within five business days after entry of the Order, the Debtors
will file with the Court, serve on the Sale Notice Parties, and
cause to be published on the Prime Clerk Website the Sale Notice.

Within five business days after entry of the Order, the Debtors
will cause the contents of the Sale Notice to be published once in
the national edition of USA Today and once in the New York Times.

Within one day after the conclusion of an Auction (or as soon as
reasonably practicable thereafter), the Debtors will file with the
Court, serve on the Objection Notice Parties and each Counterparty
to a Proposed Assumed Contract included in a Successful Bid and a
Back-Up Bid, and cause to be published on the Prime Clerk Website,
a notice containing the results of the Auction, which will (a)
identify the Successful Bidder(s) and the Back-Up Bidder(s); (b)
list all Proposed Assumed Contracts in the Successful Bid(s) and
Back-Up Bid(s), if known; (c) identify any known proposed assignees
of Proposed Assumed Contracts; and (d) set forth the deadlines and
procedures for filing Sale Objections in response to the Notice of
Auction Results.

The Assumption and Assignment Notice is approved.  As soon as
practicable, but not later than June 19, 2020, the Debtors will
file with the Court, serve on all applicable Counterparties to
Proposed Assumed Contracts and the Objection Notice Parties, and
cause to be published on the Prime Clerk Website, an initial notice
which will list the Debtors' good faith calculation of the Cure
Costs with respect to each Proposed Assumed Contract.  The Cure
Objection Deadline is July 6, 2020 at 4:00 p.m. (ET).

Notwithstanding anything in the Order to the contrary, unless Cigna
Health and Life Insurance Co. and a Debtor agree otherwise,
assumption and assignment of the Cigna ASO Agreement will not be
considered or approved at any hearing unless, at least five
business days prior to such hearing, Cigna, through its counsel of
record, is provided with (i) written notice of a Debtor's decision
as to whether or not it proposes to seek approval at such hearing
to assume and assign the Cigna ASO Agreement as part of the Sale or
if the Debtor intends to adjourn such decision to a later date;
(ii) the identity of the proposed assignee; and (iii) adequate
assurance information for the proposed assignee, including a good
faith estimate as to the number of employees of the Debtors who
will become employees of the assignee.

Notwithstanding the possible applicability of Bankruptcy Rules
6004(h), 6006(d), 7062, or 9014, or any applicable provisions of
the Bankruptcy Rules or the Local Rules or otherwise stating the
contrary, the terms and conditions of the Order will be immediately
effective and enforceable upon its entry, and any applicable stay
of the effectiveness and enforceability of this Order is waived.

A copy of the Bidding Procedures is available at
https://tinyurl.com/y9dkws3n from PacerMonitor.com free of charge.

                     About Exide Holdings

Founded in 1888 and headquartered in Milton, Ga., Exide Holdings,
Inc. -- https://www.exide.com/ -- is a stored electrical energy
solutions company and a producer and recycler of lead-acid
batteries.  Across the globe, Exide batteries power cars, boats,
heavy duty vehicles, golf carts, powersports, and lawn and garden
applications.  Its network power solutions deliver energy to vast
telecommunication networks in need of uninterrupted power supply.

Exide Technologies first sought Chapter 11 protection (Bankr. Del.
Case No. 02-11125) on April 14, 2002, and exited bankruptcy two
years after. Matthew N. Kleiman, Esq., and Kirk A. Kennedy, Esq.,
at Kirkland & Ellis, and James E. O'Neill, Esq., at Pachulski Stang
Ziehl & Jones LLP, represented the Debtors in their successful
restructuring.

Exide returned to Chapter 11 bankruptcy (Bankr. D. Del. Case No.
13-11482) on June 10, 2013 and emerged from bankruptcy in 2015.  In
the 2013 case, Exide tapped Skadden, Arps, Slate, Meagher & Flom
LLP, and Pachulski Stang Ziehl & Jones LLP as counsel; Alvarez &
Marsal as financial advisor; Sitrick and Company Inc. as public
relations consultant.  The official creditors committee retained
Lowenstein Sandler LLP and Morris, Nichols, Arsht & Tunnell LLP as
co-counsel, and Zolfo Cooper, LLC served as its bankruptcy
consultants and financial advisors.

Exide Holdings and its affiliates, including Exide Technologies
LLC, sought Chapter 11 protection (Bankr. D. Del. Lead Case No.
20-11157) on May 19, 2020.  Exide Holdings was estimated to have
$500 million to $1 billion in assets and $1 billion to $10 billion
in liabilities.

In the newest Chapter 11 case, Weil, Gotshal & Manges LLP is
serving as legal counsel to Exide, Houlihan Lokey is serving as
investment banker, and Ankura is serving as financial advisor.
Richards, Layton & Finger, P.A., is the local counsel.  Prime Clerk
LLC is the claims agent, maintaining the page
https://cases.primeclerk.com/Exide2020/



FCPR ACQUISITION: Trustee's Sale of Trucking Assets Finally Okayed
------------------------------------------------------------------
Judge Caryl E. Delano of the U.S. Bankruptcy Court for the Middle
District of Florida has entered a final order authorizing Alex
Moglia, the chapter 11 Trustee for FCPR Acquisition, LLC, Cedar
Plastics, LLC, and Cedar Trucking, LLC, to sell Trucking's personal
property listed on Exhibit A.

The preliminary hearing on the Motion was held on May 11, 2020 at
2:30 p.m. and then the final hearing on May 29, 2020 at 2:00 p.m.

The Trucking Sale is on an "As-Is, Where-Is" basis but free and
clear of all claims, liens, interest and encumbrances with any
liens to attach to the Sale Proceeds.

As proffered on the record, without objection, the value of the
Sale Assets is $8,400.

The purchase price to be paid under the Offer less an amount equal
to 17.5% of the Sale Proceeds attributable to CenterState's
collateral to pay (a) the fees payable to the United States
Treasury pursuant to 28 U.S.C. Section 1930, (b) then to the
allowed administrative expenses for compensation and reimbursement
for the Trustee and the Jennis Law Firm, as may be allowed pursuant
to Sections 326, 330 and 331 of the Bankruptcy Code, (c) and, to
the extent of any remainder thereafter, all other allowed
administrative expense claims, priority claims and unsecured
claims.

Specifically, the Trustee will distribute the Sale Proceeds as
follows:

      A. The first $2,000 will continue to be escrowed until a
valid payoff statement from Pacific Leasing is received.  Should
the Pacific Payoff be less than $2,000, the remaining portion will
be paid to the Trustee and the Jennis Law Firm, as may be allowed
pursuant to Sections 326, 330 and 331 of the Bankruptcy Code.
Should the Pacific Payoff be greater than $2,000, the purchaser may
pay the difference or the Trustee may unilaterally abandon the
flatbed trailer Vin . . . 6203 to Pacific Leasing and return the
$2,000 escrowed funds to the purchaser.  Should any third party
prove ownership of the flat bed before closing the Trustee will
abandon the flat bed and return the escrowed funds to the
purchaser.

      B. The second $1,120 to pay (i) the fees payable to the
United States Treasury pursuant to 28 U.S.C. Section 1930, (ii) the
Administrative Carve Out and (iii) to the extent of any remainder
thereafter, all other allowed administrative expense claims,
priority claims and unsecured claims.

      C. The third $5,280 to CenterState.

In consideration of the Carve Out, the Trustee waives any right to
surcharge with respect to any of the Sale Assets under Section 506.


Attorney David S. Jennis is directed to serve a copy of the Order
on interested parties who do not receive notice via CM/ECF and file
a proof of service within three days of entry of the Order.

A copy of the Exhibit A is available at
https://tinyurl.com/ya8wmgfm from PacerMonitor.com free of charge.

                    About FCPR Acquisition

FCPR Acquisition, LLC, provides carpet recycling services.  The
company is doing business as Florida Carpet & Pad Recycling.

FCPR sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. M.D. Fla. Case No. 19-08611) on Sept. 11, 2019.  Its
affiliates, Cedar Plastics, LLC (Bankr. M.D. Fla. Case No.19-09429)
and Cedar Trucking, LLC (Bankr. M.D. Fla. Case No.19-09430) filed
Chapter 11 petitions on Oct. 3, 2019.  The cases are jointly
administered under Case No. 19-08611.

At the time of the filing, FCPR and Cedar Plastics were estimated
to have assets of less than $50,000 and debts of less than $10
million. Cedar Trucking had estimated assets of less than $50,000
and liabilities of less than $1 million.

The cases have been assigned to Judge Caryl E. Delano.

The Debtors are represented by Daniel E. Etlinger, Esq., at Jennis
Law Firm.

The U.S. Trustee for Region 21 on Nov. 15, 2019, appointed three
creditors to serve on the official committee of unsecured
creditors. The Committee hires Buss Ross, P.A., as counsel.


FLAVORS HOLDINGS: Moody's Withdraws Caa2 CFR Amid Whole Earth Deal
------------------------------------------------------------------
Moody's Investors Service has withdrawn Flavors Holdings Inc's
ratings including the Caa2 Corporate Family Rating, the Caa2-PD
probability of default rating, and the Ca rating on the second lien
term loan due 2021. The rating action follows the full repayment
and cancelation of its credit facilities.

The following ratings/assessments are affected by its action:

Withdrawals:

Issuer: Flavors Holdings Inc.

- Corporate Family Rating, Withdrawn, previously rated Caa2

- Probability of Default Rating, Withdrawn, previously rated
   Caa2-PD

- Senior Secured 2nd Lien Term Loan, Withdrawn, previously rated
   Ca (LGD6)

Outlook Actions:

Issuer: Flavors Holdings Inc.

- Outlook, Changed to Rating Withdrawn from Rating Under Review

RATINGS RATIONALE

Moody's has decided to withdraw the ratings because Flavors' debt
previously rated by Moody's has been fully repaid following
Flavors' acquisition by Whole Earth Brands, Inc (NASDAQ: FREE, not
rated).

Flavors Holdings, headquartered in New York, NY, manufactures,
markets and distributes tabletop sweeteners and a variety of
licorice products. Sweeteners represent approximately 60% of
revenue and licorice products approximately 40%. Prior to the FREE
acquisition, Flavors was indirectly owned by MacAndrews & Forbes
Incorporated. Revenue approximates $277 million.


FLAVORS HOLDINGS: S&P Withdraws 'CCC' ICR on Debt Repayment
-----------------------------------------------------------
On July 1, 2020, S&P Global Ratings withdrew all of its ratings on
U.S.–based Flavors Holdings Inc., including the 'CCC' issuer
credit rating.

The company was acquired by Act II Global Acquisition Corp., and
all of its debt was repaid.



FORTERRA INC: S&P Rates New Senior Secured Notes 'B-'
-----------------------------------------------------
S&P Global Ratings assigned its 'B-' issue-level rating and '4'
recovery rating to Irving, Texas-based water supply and drainage
products producer Forterra Inc.'s proposed senior secured notes due
2025. The '4' recovery rating reflects S&P's expectation of average
(30%-50%, rounded estimate: 40%) recovery in the event of default.
The company will use the note proceeds to pay a portion its
outstanding $1.12 billion first-lien term loan B balance.

S&P expects municipal and water infrastructure spending to remain
relatively flat during the next one to two quarters, since roughly
50% of Forterra's revenues are driven by these end markets.
Assuming construction markets continue their recovery for the
remainder of the year, S&P expects Forterra's debt leverage to
potentially be in the mid- to high-6x area on a trailing-12-month
basis before recovering to below 6x during 2021. Forterra has
significantly reduced its debt leverage over the past two years to
6.45x at year-end 2019 from 8.5x at year-end 2018 as cost
improvement initiatives and realized synergies from previous
acquisitions have begun to take hold.

However, S&P notes the depth and duration of the COVID-19 outbreak
is still uncertain, particularly given the risk of a resurgence of
the virus, which could lead to a contraction in construction
activity and future state infrastructure spending. This could cause
debt leverage to rise higher than S&P's initial expectations,
depending on the duration of the recession. S&P expects Forterra's
annual sales to be slightly up to flat year over year, yet the
possibility of a second dip still exists. There is also uncertainty
regarding the impact of reduced state budgets for infrastructure
spending in 2021, absent any federal or state measures to make up
for any funding shortfalls. A 5% decline in revenue could lead to
adjusted debt-to-EBITDA levels above 7x. S&P expects interest
coverage to remain above 2x under any scenario.

Forterra had recently amended and extended its revolving credit
facility by shifting the maturity to 2025 and increasing its
capacity to $350 million from $300 million with no borrowings
outstanding, giving the company cushion at its current rating. The
at-least $400 million notes are neutral to leverage and further
alleviate a tower maturity in 2023. S&P also expect the company
will produce $60 million-$70 million in free operating cash flow.


FOUNDATIONS LEARNING: Seeks Approval to Hire Legal Counsel
----------------------------------------------------------
Foundations Learning Center of St. Johns County, LLC, seeks
authority from the U.S. Bankruptcy Court for the Middle District of
Florida to employ legal counsel.

The Debtor wishes to retain Felecia L. Walker, Esq. of Edwards &
Edwards, P.A. to represent the Debtor as general counsel in this
Chapter 11 bankruptcy case and Jason A. Burgess, Esq. of The Law
Offices of Jason A. Burgess, LLC to represent the Debtor as
co-counsel.

Services the counsels will render are:

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

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

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

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

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

Ms. Walker's hourly rate is $300 and her firm's paralegal time will
be billed at $75 per hour. The agreed minimum fee for
representation is $5,000 plus $1,717 filing fee.

Mr. Burgess' hourly rate is $350.

The counsels do not represent any interest adverse to the Debtor,
and are disinterested as required by Section 327(a) of the
Bankruptcy Code, according to court filings.

The counsels can be reached at:

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

     Felecia L Walker, Esq.
     Edwards & Edwards, P.A.
     6620 Southpoint Dr S #200
     Jacksonville, FL 32216
     Phone: 904-222-0829
     Email: fwalker@edwardsedwardslaw.com

                About Foundations Learning Center of
                     St. Johns County, LLC

Based in Jacksonville, Florida, Foundations Learning Center of St.
Johns County, LLC, sought protection for relief under Chapter 11 of
the Bankruptcy Code (Bankr. M.D. Fla. Case No. 20-01807) on June
11, 2020, listing under $1 million in both assets and liabilities.
Felecia L Walker, Esq. at Edwards & Edwards, P.A. represents the
Debtor as counsel.


FRANK INVESTMENTS: Hires Astor Weiss Kaplan as Special Counsel
--------------------------------------------------------------
Frank Investments, Inc., and its debtor-affiliates, seek authority
from the U.S. Bankruptcy Court for the Southern District of Florida
to employ the law firm of Astor Weiss Kaplan & Mandel, LLP as its
special real estate counsel, nunc pro tunc from Feb 4, 2019 to May
20, 2019.

The Debtor seeks to employ Astor Weiss, nunc pro tunc for a limited
period of some three months, as special real estate counsel for the
limited purposes of drafting, reviewing and revising asset purchase
agreements for real properties, communicating with potential
purchasers of such properties, and advising the Debtor regarding
the sales of such real properties.

David Mandel, Esq., a partner at Astor Weiss and the attorney who
will be providing the services, will charge $500 per hour.

Mr. Mandel attests that his firm is a "disinterested person" within
the meaning of section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     David Mandel, Esq.
     Astor, Weiss, Kaplan & Mandell, LLP
     The Bellevue, Suite 600
     200 South Broad Street
     Philadelphia, PA 19102
     Tel: 215-790-0100
     Fax: 215-790-0509

                 About Frank Investments

Frank Investments Inc., Frank Theatres Management LLC and Frank
Entertainment Companies, LLC are affiliates of Rio Mall, LLC, which
sought bankruptcy protection (Bankr. S.D. Fla. Case No. 18-17840)
on June 28, 2018. Rio Mall, LLC, owns and operates commercial real
property that comprises the shopping center known as Rio Mall
located at 3801 Route 9 South, Rio Grande, N.J.

Frank Investments and its debtor affiliates sought Chapter 11
protection (Bankr. S.D. Fla. Lead Case No. 18-20019) on Aug. 17,
2018.  At the time of the filing, Frank Investments and Frank
Entertainment had estimated assets of between $10 million and $50
million and liabilities of the same range. Frank Theaters had
estimated assets of between $10 million and $50 million and
liabilities of between $50 million and $100 million.

Bradley S. Shraiberg, Esq., at Shraiberg Landau & Page, P.A., is
the Debtors' bankruptcy counsel.  VerStandig Law Firm, LLC, is
special counsel.

No official committee of unsecured creditors has been appointed.


FRANK INVESTMENTS: Hires Kapp Morrison as Real Estate Counsel
-------------------------------------------------------------
Frank Investments, Inc., and its debtor-affiliates, seek authority
from the U.S. Bankruptcy Court for the Southern District of Florida
to employ Stuart T. Kapp, Esq. and the firm of Kapp Morrison, LLP ,
as special real estate counsel.

Services the counsel will render are:

     a. draft asset purchase agreements for prospective purchasers
of the Properties;

     b. review and edit asset purchase agreements submitted by
prospective purchasers of the Properties, including all qualified
bidders at auctions;

     c. advise the Debtor regarding qualified bids submitted at
auctions;

     d. advise the Debtor generally regarding real estate and title
law, and other issues that will present themselves in connection
with the sales of the Properties; and

     e. perform all other legal services for the Debtor arising
from or related to the foregoing which may be necessary.

Kapp Morrison's standard hourly rates range from $480 to $750 per
hour for partners, $300 to $475 per hour for associates, and $150
to $300 for legal assistants. Mr. Kapp's ordinary and usual rate is
$670 per hour, however Mr. Kapp has agreed to perform the proposed
services at a reduced rate of $550 per hour.

Kapp Morrison does not represent any interest adverse to the
Debtor, its bankruptcy estate and creditors, according to court
filings.

The firm can be reached through:

     Stuart T. Kapp, Esq.
     Kapp Morrison, LLP
     7900 Glades Road, Suite 550
     Boca Raton, FL 33434
     Phone: 561-766-0011

                 About Frank Investments

Frank Investments Inc., Frank Theatres Management LLC and Frank
Entertainment Companies, LLC are affiliates of Rio Mall, LLC, which
sought bankruptcy protection (Bankr. S.D. Fla. Case No. 18-17840)
on June 28, 2018. Rio Mall, LLC, owns and operates commercial real
property that comprises the shopping center known as Rio Mall
located at 3801 Route 9 South, Rio Grande, N.J.

Frank Investments and its debtor affiliates sought Chapter 11
protection (Bankr. S.D. Fla. Lead Case No. 18-20019) on Aug. 17,
2018.  At the time of the filing, Frank Investments and Frank
Entertainment had estimated assets of between $10 million and $50
million and liabilities of the same range. Frank Theaters had
estimated assets of between $10 million and $50 million and
liabilities of between $50 million and $100 million.

Bradley S. Shraiberg, Esq., at Shraiberg Landau & Page, P.A., is
the Debtors' bankruptcy counsel.  VerStandig Law Firm, LLC, is
special counsel.

No official committee of unsecured creditors has been appointed.


FRONTIER COMMUNICATIONS: Creditors' Committee Members Detail Claims
-------------------------------------------------------------------
In the Chapter 11 cases of Frontier Communications Corporation, et
al., the law firm of Kramer Levin Naftalis & Frankel LLP submitted
a verified statement under Rule 2019 of the Federal Rules of
Bankruptcy Procedure, to disclose that it is representing the
Official Committee of Unsecured Creditors.

On April 14, 2020, each of the Debtors filed a voluntary petition
for relief under chapter 11 of the Bankruptcy Code with this
Court.

On April 23, 2020, the Office of the United States Trustee for
Region 3 appointed the seven-member Committee consisting of: (i)
AT&T Services, Inc.; (ii) The Bank of New York Mellon; (iii) Cathy
Bailey; (iv) Eversource Energy; (v) Pension Benefit Guaranty
Corporation; (vi) Communication Workers of America, AFL-CIO, CLC;
and (vii) U.S. Bank National Association. See Dkt. No. 142.

As of June 24, 2020, the Committee members and their disclosable
economic interests are:

AT&T Services, Inc.
1 Rockefeller Plaza, Room 18-19
New York, NY 10020
Attn: James W. Grudus

* Unsecured claim of at least $2,618,959.39 on account of
  prepetition trade payables.

The Bank of New York Mellon Corporate Trust
Default Administration Group
240 Greenwich Street – 7E
New York, NY 10286
Attn: Alex Chang

Indenture Trustee for the following notes, bonds, and
debentures:

* $54,643,000 in 8.875% Senior Notes due 2020
* $172,087,000 in 8.500% Senior Notes due 2020
* $219,721,000 in 6.250% Senior Notes due 2021
* $89,269,000 in 9.250% Senior Notes due 2021
* $500,000,000 in 8.750% Senior Notes due 2022
* $2,187,537,000 in 10.500% Senior Notes due 2022
* $850,000,000 in 7.125% Senior Notes due 2023
* $750,000,000 in 7.625% Senior Notes due 2024
* $138,000,000 in 7.000% Debentures due 2025
* $775,000,000 in 6.875 % Senior Notes due 2025
* $3,600,000,000 in 11.000% Senior Notes due 2025
* $1,739,00 in 6.800% Senior Notes due 2026
* $345,858,000 in 7.875% Senior Notes due 2027
* $945,325,000 in 9.000% Senior Notes due 2031
* $628,000 in 7.680% Senior Notes due 2034
* $125,000,000 in 7.450% Debentures due 2035
* $193,500,000 in 7.050% Debentures due 2046

Ms. Cathy Bailey
c/o Sanford A. Kassel APLC
334 W 3rd Street, #207
San Bernardino, CA 92401
Attn: Sandy Kassel, Esq.

   - and –

Dundon Advisers LLC
440 Mamaroneck Ave., Ste. 507
Harrison NY 10528
Attn: Matthew Dundon

* Ms. Bailey is the plaintiff in a personal injury lawsuit pending
  the California state courts against certain debtor and
  non-debtor defendants. Damages but have not yet been liquidated
  by judgment or settlement but could exceed $3 million.

Communications Workers of America, AFL-CIO
501 Third Street, NW
Washington, DC 20001
Attn: Patricia M. Shea
CWA General Counsel
Dan Reynolds, Assistant Research Director

* The Communication Workers of America, AFL-CIO, has the following
  claims against the Debtors: (i) claims for accrued vacation pay
  of at least $45,795,625.00; (ii) claims for Retiree Insurance
  and OPEB (non-pension) of at least $17,180,328.00; and (iii)
  unliquidated claims arising from litigation and other grievances
  of at least $7,886,867.00.

The Connecticut Light and Power Company
d/b/a Eversource Energy
107 Seldon Street Berlin, CT 06037
Attn: Honor S. Heath, Senior Counsel

* Eversource Energy has the following claims against the Debtors:
  (i) approximately $10 million in unpaid obligations of SNET and
  Frontier Communications (jointly) owed to CL&P pursuant to a
  Joint Pole Agreement entered into in 1990 and amended at the
  time SNET was purchased by Frontier; and (ii) approximately 3700
  electric service accounts with pre-petition sums of
  approximately $750,000.

Pension Benefit Guaranty Corporation
1200 K Street, N.W.
Washington, D.C. 20005-4026
Attn: Sven Serspinski

* If the Frontier Communications Pension Plan terminates, the
  Debtors will be jointly and severally liable to PBGC for the
  terminated Plan's unfunded benefit liabilities under 29 U.S.C.
§
  1362 and 1368, estimated at about $1,757,000,000. In addition,
  the Debtors' estates – or in the event of a confirmed plan of
  reorganization, the reorganized Debtors – will be jointly and
  severally liable to PBGC for termination premiums under 29
  U.S.C. § 1307, estimated at about $98,722,500. Additionally, if
  PBGC is appointed the statutory trustee of the terminated
  Pension Plan, the Debtors will be jointly and severally liable
  to PBGC for any missed minimum funding contributions owed to the
  Plan under 26 U.S.C. § 412, 430 and 29 U.S.C. § 1082. PBGC
will
  file contingent claims against all Debtors for these
  liabilities, along with non- contingent claims for any unpaid
  PBGC insurance premiums.

U.S. Bank National Association
1 Federal Street
Boston, MA 02110
Attn: Laura Moran

U.S. Bank National is the Indenture Trustee for the following:

* $300,000,000 of 6.86% Subsidiary Debentures issued by
  Frontier Florida and due in 2028

* $200,000,000 of 6.75% Subsidiary Debentures issued by
  Frontier California and due in 2027

* $200,000,000 of 6.73% Subsidiary Debentures issued by
  Frontier North and due in 2028

Proposed Counsel to the Official Committee of Unsecured Creditors
can be reached at:

          KRAMER LEVIN NAFTALIS & FRANKEL LLP
          Douglas H. Mannal, Esq.
          Jennifer Sharret, Esq.
          Megan Wasson, Esq.
          1177 Avenue of the Americas
          New York, NY 10036
          Telephone: (212) 715-9100
          Facsimile: (212) 715-8000
          Email: dmannal@kramerlevin.com
                 jsharret@kramerlevin.com
                 mwasson@kramerlevin.com

A copy of the Rule 2019 filing, downloaded from PacerMonitor.com,
is available at https://is.gd/YXkaU1

                About Frontier Communications

Frontier Communications Corporation (NASDAQ: FTR) offers a variety
of services to residential and business customers over its
fiber-optic and copper networks in 29 states, including video,
high-speed internet, advanced voice, and Frontier Secure digital
protection solutions.

Frontier Communications Corporation and 103 related entities sought
Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No. 20-22476) on
April 14, 2020, to seek approval of a plan that would cut debt by
$10 billion. Frontier announced it had entered into a Restructuring
Support Agreement (RSA) with bondholders representing more than 75%
of its $11 billion outstanding unsecured bonds.

Judge Robert D. Drain oversees the cases.

The Debtors tapped Kirkland & Ellis LLP as legal counsel; Evercore
as financial advisor; and FTI Consulting, Inc., as restructuring
advisor.  Prime Clerk is the claims agent, maintaining the page
http://www.frontierrestructuring.com/and
https://cases.primeclerk.com/ftr.

The U.S. Trustee for Region 2 appointed a committee to represent
unsecured creditors in Debtors' Chapter 11 cases.


GAUCHO GROUP: Further Delays Form 10-Q Filing Due to COVID-19
-------------------------------------------------------------
Gaucho Group Holdings, Inc., filed a Form 12b-25 with the
Securities and Exchange Commission notifying the delay in the
filing of its Quarterly Report on Form 10-Q for the period ended
March 31, 2020.

Gaucho Group has determined that it is unable to file its Quarterly
Report by June 29, 2020, the due date for such filing as extended
by the Securities and Exchange Commission's order in Release No.
34-88318, because of the economic conditions created in part by the
recent coronavirus pandemic.  In addition to the factors noted in
its Current Report on Form 8-K filed with the Commission on May 15,
2020, the Company has had diminishing operating revenue as well as
limited cash and cash equivalents and has been incurring operating
losses.  Furthermore, the current global COVID-19 pandemic has
added even greater pressure on the Company's ability to operate
efficiently.

The Company anticipates that it will be able to file the Form 10-Q
within the extension period provided pursuant the Order and
pursuant to Rule 12b-25.

                       About Gaucho Group

Headquartered in New York, NY, Gaucho Group Holdings, Inc. --
http://www.algodongroup.com/-- was incorporated on April 5, 1999.

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

Gaucho Group reported a net loss attributable to common
stockholders of $7.38 million for the year ended Dec. 31, 2019,
compared to a net loss attributable to common stockholders of $6.40
million for the year ended Dec. 31, 2018.  As of Dec. 31, 2019, the
Company had $5.92 million in total assets, $5.92 million in total
liabilities, $9.03 million in series B convertible redeemable
preferred stock, and a total stockholders' deficiency of $9.03
million.

Marcum LLP, in New York, NY, the Company's auditor since 2013,
issued a "going concern" qualification in its report dated March
30, 2020 citing that the Company has a significant working capital
deficiency, has incurred significant losses and needs to raise
additional funds to meet its obligations and sustain its
operations.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern.


GEORGIA CENTRAL: Case Summary & 5 Unsecured Creditors
-----------------------------------------------------
Debtor: Georgia Central University, Inc.
        6789 Peachtree Industrial Blvd
        Atlanta, GA 30360

Business Description: Georgia Central University, Inc. is a tax-
                      exempt entity that owns several pieces of
                      improved real property in DeKalb County,
                      Georgia upon which it operates a small
                      college.  The Company previously sought
                      bankruptcy protection on Aug. 7, 2018
                      (Bankr. N.D. Ga. Case No. 18-63208).

Chapter 11 Petition Date: July 1, 2020

Court: United States Bankruptcy Court
       Northern District of Georgia

Case No.: 20-67718

Debtor's Counsel: Cameron M. McCord, Esq.
                  JONES & WALDEN, LLC
                  699 Piedmont Avenue NE
                  Atlanta, GA 30308
                  Tel: 404-564-9300
                  Email: info@joneswalden.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Paul C. Kim, president.

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

                    https://is.gd/KXHYcO


GEORGIA DIRECT: $5K Sale of 2013 GMC Sierra Truck to Employee OK'd
------------------------------------------------------------------
Judge Robyn L. Moberly of the U.S. Bankruptcy Court for the Sothern
District of Indiana authorized the private sale by Georgia Direct
Carpet, Inc. and its debtor-affiliates of a 2013 GMC Sierra Truck
to Bob Fisher for $5,000.

Fisher will tender the Payment directly to West End Bank, S.B.
within five days of entry of the Order.  In the event the Payment
is not timely tendered, the sale of the Truck will be null and void
and the Truck will be included in the Debtors' auction sale of its
remaining tangible personal property.

The Truck is not subject to any claims, liens, or encumbrances.

The Debtor will file a Report of Sale within 14 days that the
private sale takes place pursuant to Fed.R.Bankr.P.6004-2(e).

                   About Georgia Direct Carpet

Georgia Direct Carpet, Inc., also known as Georgia Carpet Direct,
owns and operates a carpet and flooring store in Richmond, Ind.  It
offers carpets, hardwoods, laminate flooring and ceramic tile floor
products.

Georgia Direct Carpet and its affiliates sought Chapter 11
protection (Bankr. S.D. Ind. Lead Case No. 19-06316) on Aug. 26,
2019.  In the petition signed by Anthony Bledsoe, president,
Georgia Direct Carpet estimated assets and liabilities at $1
million to $10 million. The Hon. Robyn L. Moberly is the case
judge.

The Debtors tapped Mattingly Burke Cohen & Biederman LLP as their
legal counsel; Mattingly Burke Cohen & Biederman LLP, as special
counsel; and Barron Business Consulting, Inc. as their financial
advisor.

The Office of the U.S. Trustee appointed creditors to serve on the
official committee of unsecured creditors on Oct. 9, 2019.  The
committee is represented by Mercho Caughey.


GEVO INC: Insufficient Working Capital Casts Going Concern Doubt
----------------------------------------------------------------
Gevo, Inc. filed its quarterly report on Form 10-Q, disclosing a
net loss of $9,253,000 on $3,825,000 of total revenues for the
three months ended March 31, 2020, compared to a net loss of
$6,136,000 on $6,403,000 of total revenues for the same period in
2019.

At March 31, 2020, the Company had total assets of $84,162,000,
total liabilities of $19,669,000, and $64,493,000 in total
stockholders' equity.

Gevo said, "Existing working capital was not sufficient to meet the
cash requirements to fund planned operations through the period
that is one year after the date the Company's financial statements
for the three months ended March 31, 2020 were issued.  These
conditions raise substantial doubt about the Company's ability to
continue as a going concern.  The Company's inability to continue
as a going concern may potentially affect the Company's rights and
obligations under its senior secured debt and issued and
outstanding convertible notes."

A copy of the Form 10-Q is available at:

                       https://is.gd/6DC6FT

Gevo, Inc. operates as a renewable fuels company. It commercializes
gasoline, jet fuel, and diesel fuel to achieve zero carbon
emissions, and reduce greenhouse gas emissions with sustainable
alternatives. The company uses low-carbon renewable-resource-based
carbohydrates as raw materials and is developing renewable
electricity and renewable natural gas for use in production
processes. It products also include renewable biodiesel, isooctane,
isobutanol, sustainable aviation fuel, isobutylene, ethanol, and
animal feed. The company was formerly known as Methanotech, Inc.
and changed its name to Gevo, Inc. in March 2006. Gevo, Inc. was
founded in 2005 and is headquartered in Englewood, Colorado.



GLOBAL EAGLE: Delays Filing of Form 10-Q Due to COVID-19 Pandemic
-----------------------------------------------------------------
Global Eagle Entertainment Inc. filed a Form 12b-25 with the
Securities and Exchange Commission notifying the delay in the
filing of its Quarterly Report on Form 10-Q for the period ended
March 31, 2020.

Global Eagle was unable to timely file its Quarterly Report on Form
10-Q due on May 15, 2020, due to impacts of the COVID-19 pandemic
on the Company.  In reliance on the Order of the Securities and
Exchange Commission dated March 25, 2020 pursuant to Section 36 of
the Securities Exchange Act of 1934, as amended, the Company has
availed itself of an extension of the original deadline to file the
Report, which rendered the report due on June 29, 2020.  However,
the continuing disruptions from the COVID-19 pandemic and their
impact on the Company have required additional time to complete the
Report and finalize the financial statements therein.  The COVID-19
pandemic has disrupted, and continues to disrupt, the Company's
day-to-day activities, including limiting the Company's access to
facilities.  In accordance with Rule 12b-25 and Rule 0-3 of the
Exchange Act, the Company expects to be able to file the Report on
or before the fifth calendar day following its prescribed due date
or by July 6, 2020 (the next business day).

                       About Global Eagle

Headquartered in Los Angeles, California, Global Eagle --
http://www.GlobalEagle.com/-- is a provider of media, content,
connectivity and data analytics to markets across air, sea and
land.  Global Eagle offers a fully integrated suite of media
content and connectivity solutions to airlines, cruise lines,
commercial ships, high-end yachts, ferries and land locations
worldwide.

Global Eagle incurred a net loss of $153.44 million for the year
ended Dec. 31, 2019, compared to a net loss of $236.60 million for
the year ended Dec. 31, 2018.  As of Dec. 31, 2019, the Company had
$668.58 million in total assets, $1.04 billion in total
liabilities, and a total stockholders' deficit of $375.15 million.

KPMG LLP, in Los Angeles, California, the Company's auditor since
2017, issued a "going concern" qualification in its report dated
May 14, 2020, citing that the Company's recurring losses from
operations, insufficient cash flows generated from operations,
potential violations of financial covenants and ability to timely
service debt, and uncertainty arising from the COVID-19 outbreak
raise substantial doubt about its ability to continue as a going
concern.


GOOD HEMP: Needs Adequate Capital to Continue as a Going Concern
----------------------------------------------------------------
Good Hemp, Inc. filed its quarterly report on Form 10-Q, disclosing
a net loss of $188,551 on $70,443 of net sales for the three months
ended March 31, 2020, compared to a net loss of $7,849 on $0 of net
sales for the same period in 2019.

At March 31, 2020, the Company had total assets of $2,998,163,
total liabilities of $2,530,148, and $468,014 in total
stockholders' equity.

Good Hemp said, "The Company has recurring operating losses, an
accumulated deficit and a working capital deficiency.  Management's
plans include raising capital in the debt and equity markets.  The
ability of the Company to continue as a going concern is dependent
on the Company obtaining adequate capital to fund operating losses
until its operations become established enough to be considered
reliably profitable.  If the Company is unable to obtain adequate
capital, it could be forced to cease operations.  These factors
raise substantial doubt about the Company's ability to continue as
a going concern for a period of one year from the issuance of these
financial statements."

A copy of the Form 10-Q is available at:

                       https://is.gd/fz50Gk

Good Hemp, Inc. is a North Carolina based company that is made up
of industry veterans focused on exploiting niche markets in the
hemp industry.



GRAN TIERRA: Risk of Covenant Breaches Casts Going Concern Doubt
----------------------------------------------------------------
Gran Tierra Energy Inc. filed its quarterly report on Form 10-Q,
disclosing a net and comprehensive loss of $251,626,000 on
$86,079,000 of sales for the three months ended March 31, 2020,
compared to a net and comprehensive income of $1,979,000 on
$152,565,000 of sales for the same period in 2019.

At March 31, 2020, the Company had total assets of $1,807,307,000,
total liabilities of $1,025,758,000, and $781,549,000 in total
shareholders' equity.

The Company said, "Whilst management believes the amendments to the
covenants in the credit agreement necessary to avoid non-compliance
in the next 12 months will be forthcoming, this risk of
non-compliance with the covenants in the credit facility creates a
material uncertainty that casts substantial doubt with respect to
the ability of the Company to continue as a going concern.
Management has prepared these consolidated condensed financial
statements in accordance with US GAAP applicable to a going
concern, which contemplates that assets will be realized and
liabilities will be discharged in the normal course of business as
they become due.  These consolidated condensed financial statements
do not reflect the adjustments to the carrying values of assets and
liabilities and the reported revenues and expenses and balance
sheet classifications that would be necessary if the Company was
unable to realize its assets and settle its liabilities as a going
concern in the normal course of operations.  Such adjustments could
be material and adverse to the financial results of the Company."

A copy of the Form 10-Q is available at:

                       https://is.gd/UeppAR

Gran Tierra Energy Inc. an independent international energy company
incorporated in the State of Delaware and engaged in oil and gas
acquisition, exploration, development and production.  The Company
focuses on onshore oil and gas properties in Colombia and also owns
the rights to oil and gas properties in Brazil and Peru.  The
Company is headquartered in Alberta, Canada.



GUITAR CENTER: S&P Raises Senior Unsecured Notes Rating to 'C'
--------------------------------------------------------------
S&P Global Ratings raised its issue-level rating on Guitar Center
Inc.'s existing senior unsecured notes to 'C' from 'D' following
the results of its post-closing exchange offer. S&P's '6' recovery
rating remains unchanged, indicating its expectation for negligible
(0%-10%; rounded estimate: 0%) recovery in a default scenario.

The offer follows the company's transaction support agreement,
which effectively allowed it to convert the April 15, 2020, cash
interest payment due on its senior unsecured debt to
payment-in-kind (PIK) for the roughly 83.3% of debtholders that
participated in the exchange. Roughly $62 million of Guitar
Center's existing senior unsecured debt remained outstanding
following the initial transaction. The company invited the senior
unsecured debt holders who did not participate in the initial
exchange to take part in a post-closing exchange offer, which would
provide those lenders (who did not consent to the initial exchange)
the same terms received by the senior unsecured lenders that
participated in the initial transaction. Under that transaction,
which S&P viewed as a selective default, Guitar Center provided the
debtholders with 107.75% of their exchanged principal in new senior
unsecured notes and the consenting lender also forfeited the April
15 cash payment. On June 29, 2020, the company announced that 90.7%
of its outstanding senior unsecured notes (roughly $56.4 million of
$62.2 million) were exchanged under this offer.

S&P's 'CCC-' issuer credit rating and negative outlook on Guitar
Center remain unchanged and reflect its view that the company may
pursue a restructuring or distressed exchange to address its
capital structure in advance of its upcoming maturities.


HARTMAN SHORT TERM: Weaver and Tidwell Raises Going Concern Doubt
-----------------------------------------------------------------
Hartman Short Term Income Properties XX, Inc. filed with the U.S.
Securities and Exchange Commission its annual report on Form 10-K,
disclosing a net loss of $5,995,000 on $86,724,000 of total
revenues for the year ended Dec. 31, 2019, compared to a net loss
of $3,540,000 on $57,022,000 of total revenues for the year ended
in 2018.

The audit report of Weaver and Tidwell, L.L.P. states that the
Company’s Hartman SPE term loan has a maturity date less than
twelve months from the date these consolidated financial statements
are issued, which raises substantial doubt about the Company's
ability to continue as a going concern.

The Company's balance sheet at Dec. 31, 2019, showed total assets
of $556,775,000, total liabilities of $331,769,000, and a total
equity of $225,006,000.

A copy of the Form 10-K is available at:

                       https://is.gd/S9L7BD

Hartman Short Term Income Properties XX, Inc. is based in Houston,
Texas.



HERTZ CORPORATION: Pachulski Represents Litigation Claimants
------------------------------------------------------------
Pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure,
the law firm of Pachulski, Stang Ziehl & Jones LLP submitted a
verified statement that it is representing the Ad Hoc Group of
Litigation Creditors in the Chapter 11 cases of The Hertz
Corporation, et al.

In June 2020, the Ad Hoc Group of Litigation Creditors retained
Pachulski, Stang Ziehl & Jones LLP to serve as its counsel.

PSZ&J represents the members of the Ad Hoc Group of Litigation
Creditors in their capacity as plaintiffs in pending litigation
against one or more of the Debtors.

PSZ&J does not represent the Ad Hoc Group of Litigation Creditors
as a "committee" and does not undertake to represent the interests
of, and is not a fiduciary for, any creditor, party in interest,
or other entity that has not signed a retention agreement with
PSZ&J. In addition, the Ad Hoc Group of Litigation Creditors does
not represent or purport to represent any other entities in
connection with the Debtors' chapter 11 cases.

Upon information and belief formed after due inquiry, PSZ&J does
not hold any disclosable economic interest in relation to the
Debtors.

As of June 25, 2020, members of the Ad Hoc Group of Litigation
Creditors and their disclosable economic interests are:

                                          Amount at Issue
                                        (Economic Interest)
                                        -------------------

Dawson, Jason                             $1,550,000.00
Barrera & Associates
2298 E. Maple Avenue
El Segundo, CA 90245

Moore, Wendellyn                          $69,458,172.00
Capstone Law APC
1875 Century Park East, Suite 1000
Los Angeles, CA 90067

Aiyekusibe, Bamidele                      $55,845,914.00
Feldman Legal Group
6940 W. Linebaugh Ave #101
Tampa, FL 33625

Graham, Mark                           $10,062,485.00
James Hawkins, APLC
9880 Research Drive, Suite 200
Irvine, CA. 92618

Fricke, Keith                                $150,000.00
Kind Law
8860 South Maryland Parkway, Suite 106
Las Vegas, Nevada 89123

Lee, Peter                                  $27,960,000.00
Outten & Golden LLP
One California Street, 12th Floor
San Francisco, CA 94111

Sharma, S.                                  $21,200,000.00
Outten & Golden LLP
One California Street, 12th Floor
San Francisco, CA 94111

Snell-Jones, La Tache                       $25,000,000.00
Ray & Counsel, P.C.
10044 South Leavitt Street
Chicago, IL 60643

Bradley, Emma                               $11,912,000.00
Law Office of Richard S. Cornfeld, LLC
1010 Market Street, Ste. 1645
St. Louis, MO 63101

Kemal, Polat                                $47,929,764.00
Shavitz Law Group, P.A.
951 Yamato Road, Suite 285
Boca Raton, Florida 33431

Green, Arlean                               $100,000,000.00
The Gardner Firm, P.C.
182 St. Francis Street, Suite 103
Mobile, Alabama 36602

Counsel for the Ad Hoc Group of Litigation Creditors can be reached
at:

          PACHULSKI STANG ZIEHL & JONES LLP
          John D. Fiero, Esq.
          Colin R. Robinson, Esq.
          919 N. Market Street, 17th Floor
          Wilmington, DE 91899
          Tel: (302) 652-4100
          Fax: (302) 652-4400
          E-mail: jfiero@pszjlaw.com
                  crobinson@pszjlaw.com

A copy of the Rule 2019 filing, downloaded from PacerMonitor.com,
is available at https://is.gd/OxlNHg and https://is.gd/ivNq0q

                    About Hertz Corp.

Hertz Corp. and its subsidiaries -- http://www.hertz.com/--   
operate a worldwide vehicle rental business under the Hertz,
Dollar, and Thrifty brands, with car rental locations in North
America, Europe, Latin America, Africa, Asia, Australia, the
Caribbean, the Middle East, and New Zealand.  The Company also
operates a vehicle leasing and fleet management solutions
business.

On May 22, 2020, The Hertz Corporation  and certain of its U.S.
and
Canadian subsidiaries and affiliates filed voluntary petitions for
reorganization under Chapter 11 in the U.S. Bankruptcy Court
(Bankr. D. Del. Case No. 20-11218).

The Hon. Mary F. Walrath is the presiding judge.

White & Case LLP is serving as legal advisor, Moelis & Co. is
serving as investment banker, and FTI Consulting is serving as
financial advisor.   Richards, Layton & Finger, P.A., is the local
counsel.

Prime Clerk LLC is the claims agent, maintaining the page
https://restructuring.primeclerk.com/hertz


HERTZ GLOBAL: Management Discloses Substantial Going Concern Doubt
------------------------------------------------------------------
Hertz Global Holdings, Inc., filed its quarterly report on Form
10-Q, disclosing a net loss of $357 million on $1,923 million of
total revenues for the three months ended March 31, 2020, compared
to a net loss of $148 million on $2,107 million of total revenues
for the same period in 2019.

At March 31, 2020, the Company had total assets of $25,842 million,
total liabilities of $24,351 million, and $1,491 million in total
stockholders' equity.

Hertz Global said, "Management has determined that the Company may
not be able to repay or refinance its debt facilities prior to
their respective maturities and may not have sufficient cash flows
from operations or liquidity to sustain its operating needs or to
meet the Company's obligations as they become due over the twelve
months following this Quarterly Report on Form 10-Q.  As such,
management has concluded there is substantial doubt regarding the
Company's ability to continue as a going concern within one year
from the issuance date of this Quarterly Report on Form 10-Q.  The
Company's consolidated financial statements as of March 31, 2020
have been prepared on a going concern basis."

A copy of the Form 10-Q is available at:

                       https://is.gd/sQyLee

Hertz Global Holdings, Inc., together with its subsidiaries,
provides airport and off airport vehicle rental and leasing
services. It operates through three segments: U.S. Rental Car,
International Rental Car, and All Other Operations. The company
rents cars, vans, crossovers, and light trucks under the Hertz,
Dollar, Thrifty, Firefly, and Flexicar brands from approximately
12,400 corporate and franchisee locations in North America, Europe,
Latin America, Africa, Asia, Australia, the Caribbean, the Middle
East, and New Zealand. It rents vehicles on an hourly, daily,
weekend, weekly, monthly, or multi-month basis. The company also
sells value-added services; and vehicles, as well as offers car and
van-sharing membership services. In addition, the company offers
vehicle and lease financing; acquisition and remarketing; license,
title, and registration; vehicle maintenance consultation; fuel,
accident, and toll management; telematics-based location, and
driver performance and scorecard reporting; and fleet management
services. The company serves business and leisure customers. Hertz
Global Holdings, Inc. was founded in 1918 and is headquartered in
Estero, Florida. On May 22, 2020, Hertz Global Holdings, Inc, filed
a voluntary petition for reorganization under Chapter 11 in the
U.S. Bankruptcy Court for the District of Delaware. It is in joint
administration with The Hertz Corporation.



HOST HOTELS: Seeks Covenant Waiver to Remain as a Going Concern
---------------------------------------------------------------
Host Hotels & Resorts, Inc., filed its quarterly report on Form
10-Q, disclosing a net loss of $3 million on $1,052 million of
total revenues for the quarter ended March 31, 2020, compared to a
net income of $189 million on $1,390 million of total revenues for
the same period in 2019.

At March 31, 2020, the Company had total assets of $13,446 million,
total liabilities of $6,292 million, and $7,070 million in total
equity.

The Company said, "As a result of the continued suspension of
operations at many of our hotels and the severe decline in revenues
resulting from the COVID-19 pandemic, we believe that it is
probable we will breach certain credit facility financial covenants
based on third quarter of 2020 results.  Therefore, we are
currently in discussions with the lenders under our credit facility
to seek a waiver from these covenants.  Any covenant waiver may
lead to increased costs, increased interest rates, additional
restrictive covenants and other lender protections and there can be
no assurance that we will be able to obtain a waiver in a timely
manner, or on favorable terms, if at all.  If we are not able to
obtain a waiver and an event of default were to occur, this could
lead to the potential acceleration of amounts due under the credit
facility as well as our senior notes, which would adversely affect
our financial condition and liquidity.  The foregoing raises
substantial doubt about our ability to continue as a going concern.
The substantial doubt about our ability to continue as a going
concern may negatively affect the price of our common stock and our
investment grade credit rating and may make it challenging for us
to issue additional debt on favorable terms to the extent necessary
or desirable to increase our liquidity."

A copy of the Form 10-Q is available at:

                       https://is.gd/YkxqGA

Host Hotels & Resorts, Inc. is an S&P 500 company and is the
largest lodging real estate investment trust and one of the largest
owners of luxury and upper-upscale hotels.  The Company currently
owns 75 properties in the United States and five properties
internationally totaling approximately 46,500 rooms.  The Company
also holds non-controlling interests in six domestic and one
international joint ventures.  Guided by a disciplined approach to
capital allocation and aggressive asset management, the Company
partners with premium brands such as Marriott, Ritz-Carlton,
Westin, Sheraton, W, St. Regis, The Luxury Collection, Hyatt,
Fairmont, Hilton, Swissotel, ibis and Novotel, as well as
independent brands.



II-VI INC: Moody's Hikes CFR to Ba3 on Debt Repayment
-----------------------------------------------------
Moody's Investors Service upgraded II-VI Incorporated's ratings,
including the Corporate Family Rating to Ba3 from B1 and the Senior
Secured Revolver and Senior Secured Term Loan A to Ba3 from B1. The
Speculative Grade Liquidity rating was upgraded to SGL-1 from
SGL-2. The outlook is stable. The rating on the Senior Secured Term
Loan B will be withdrawn following repayment.

Upgrades:

Issuer: II-VI Incorporated

  Corporate Family Rating, Upgraded to Ba3 from B1

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

  Speculative Grade Liquidity Rating, Upgraded to SGL-1 from SGL-2

  Senior Secured Revolving Credit Facility, Upgraded to Ba3(LGD3)
  from B1 (LGD3)

  Senior Secured Delayed Draw Term Loan A, Upgraded to Ba3 (LGD3)
  from B1 (LGD3)

Outlook Actions:

Issuer: II-VI Incorporated

  Outlook, Remains Stable

RATINGS RATIONALE

This rating action follows the announcement that II-VI plans to
repay the Senior Secured Term Loan B using proceeds of a stock
offering and a mandatory convertible preferred stock offering. The
upgrade to the CFR reflects the planned debt repayment, which will
reduce reported debt by about 31%, improving leverage to about 4.9x
debt to EBITDA (twelve months ended March 31, 2020, Moody's
adjusted, proforma for the debt repayment) from 6.8x. The upgrade
also reflects the issuance of common and mandatory convertible
preferred shares to fund the debt repayment, which Moody's views as
indicative of a more conservative financial policy.

The Ba3 CFR reflects Moody's expectation that debt to EBITDA
(Moody's adjusted) will remain above 3.5x over the next year. This
level of leverage is high given the execution risks in integrating
Finisar Corp. and the weakening global business environment caused
by the coronavirus outbreak. The acquisition of Finisar
approximately doubled II-VI's revenue base and included several
manufacturing facilities to integrate. Moreover, revenues in
individual segments of the former Finisar operations can be
volatile due to swings in end market demand. Free cash flow will be
modest over the near term due to the reduced but substantial debt
burden and II-VI's high capital intensity given the integrated
manufacturing model. Nevertheless, II-VI is progressing well with
the integration of Finisar, increasing margins and cash flow
generation as integration expenses decline. II-VI has an
established leadership position in the Optical Networking
Components market and complemented by its materials expertise has
exposure to important secular growth drivers, including the
buildout of Fifth Generation mobile networks (5G), the broader
adoption of 3D sensing technology, and the progression of systems
toward enabling fully autonomous cars.

The stable outlook reflects Moody's expectation that following near
term revenue and EBITDA declines due to the economic recession
driven by the coronavirus outbreak, II-VI will return to modest
revenue growth over the next 12 to 18 months. Moody's expects that
II-VI will make progress toward achieving the $150 million of
anticipated cost synergies from the Finisar acquisition, which will
drive an improving EBITDA margin toward 20% (Moody's adjusted).
With revenue growth and EBITDA margin improvement, Moody's expects
that debt to EBITDA (Moody's adjusted) will decline toward the mid
3x level over the next year.

The rapid and widening spread of the coronavirus outbreak,
deteriorating global economic outlook, falling oil prices, and
asset price declines are creating a severe and extensive credit
shock across many sectors, regions and markets. The combined credit
effects of these developments are unprecedented. The semiconductor
sector has been one of the sectors affected by the shock given its
sensitivity to consumer and enterprise demand and sentiment. More
specifically, the weaknesses in II-VI's credit profile, including
its exposure to a global supply chain have left it vulnerable to
shifts in market sentiment in these unprecedented operating
conditions and II-VI remains vulnerable to the outbreak continuing
to spread. Moody's regards the coronavirus outbreak as a social
risk under its ESG framework, given the substantial implications
for public health and safety.

The rating is supported by governance considerations, specifically
II-VI's decision to fund debt repayment by issuing common and
preferred stock. Moody's expects that II-VI will continue to follow
a conservative financial policy, refraining from debt funded
shareholder returns.

The Speculative Grade Liquidity rating of SGL-1 reflects II-VI's
very good liquidity. Moody's expects that II-VI will generate
increasing FCF over the next 12 to 18 months due to the reduction
in interest expense following repayment of the Term Loan B,
declining integration expenses, and the realization of cost
synergies. Moody's expects that II-VI will maintain a cash balance
of at least $225 million and availability under the $450 million
senior secured revolver of at least $350 million. Moody's expects
that II-VI will maintain a comfortable cushion to the two financial
maintenance covenants, "net leverage" and "interest coverage" as
defined in the credit agreement.

The Ba3 rating on the Revolver and the Senior Secured Term Loan A
reflects the collateral, which includes a first priority lien on
all assets, and benefits from a cushion of unsecured liabilities,
including approximately $360 million of two tranches of convertible
senior notes. Given uncertainty of the composition of the debt
capital structure following maturity of the $345 million of 0.25%
convertible senior notes due 2022, the rating of the Credit
Facilities is one-notch lower than the LGD model implied rating.
(Although the first priority lien on all assets excludes real
property, creditors are protected by a negative pledge on the real
property assets.)

FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS

The ratings could be upgraded if:

  - Maintains revenue growth at least in the upper single digits'
percent

  - EBITDA margin (Moody's adjusted) is sustained above 20%

  - Debt to EBITDA (Moody's adjusted) is sustained below 3x

  - FCF to debt (Moody's adjusted) is sustained above 10%

  - Maintains a conservative financial policy

The ratings could be downgraded if:

  - If revenue growth or the EBITDA margin weakens, indicating a
    more challenged competitive position

  - The company fails to make progress in improving leverage
    towards the mid 3x debt to EBITDA (Moody's adjusted) level
    over the next year

  - FCF to debt (Moody's adjusted) declines toward 5%

  - If the financial policy becomes more aggressive

II-VI Inc., based in Saxonburg, Pennsylvania, makes engineered
materials and optoelectronic devices. Products include optical
communications components, VCSELs and industrial laser components,
and advanced materials, such as silicon carbide substrates, and
precision optics for military applications. With the acquisition of
Finisar Corp. in September 2019, II-VI's product line expanded into
optical communications modules and systems for data center
applications, optical equipment such as wavelength selective
switches used in telecommunications long haul and metro networks.
II-VI's market position in vertical cavity surface emitting lasers
used in 3D sensing applications such as facial recognition in
consumer devices was also enhanced with the Finisar acquisition.

The principal methodology used in these ratings was Semiconductor
Industry published in July 2018.


INSPIREMD INC: Expected Losses Cast Going Concern Doubt
-------------------------------------------------------
InspireMD, Inc. filed its quarterly report on Form 10-Q, disclosing
a net loss of $1,978,000 on $1,034,000 of revenues for the three
months ended March 31, 2020, compared to a net loss of $3,207,000
on $415,000 of revenues for the same period in 2019.

At March 31, 2020, the Company had total assets of $7,385,000,
total liabilities of $3,908,000, and $3,477,000 in total equity.

The Company said, "We had an accumulated deficit as of March 31,
2020, of approximately US$160 million, as well as a net loss of
US$1,978,000 and negative operating cash flows for the three months
ended March 31, 2020.  We expect to continue incurring losses and
negative cash flows from operations until our products (primarily
CGuard EPS) reach commercial profitability.  As a result of these
expected losses and negative cash flows from operations, along with
our current cash position, we only have sufficient resources to
fund operations through the end of August 2020.  Therefore, there
is substantial doubt about our ability to continue as a going
concern."

A copy of the Form 10-Q is available at:

                       https://is.gd/3ypXbs

InspireMD, Inc., a medical device company, focuses on the
development and commercialization of proprietary MicroNet stent
platform technology for the treatment of coronary and vascular
diseases.  The Company offers CGuard carotid embolic prevention
systems for use in carotid artery applications; and MGuard prime
embolic protection systems for use in patients with acute coronary
syndromes, notably acute myocardial infarction, and saphenous vein
graft coronary interventions.  It is also developing NGuard, a
neurovascular flow diverter that diverts blood flow away from
cerebral aneurysms in order to seal the aneurysms.  InspireMD, Inc.
distributes its products in Europe, Latin America, the Middle East,
and Asia.  The Company is headquartered in Tel Aviv, Israel.



IPSIDY INC: Incurs $3.8M Net Loss for the Quarter Ended March 31
----------------------------------------------------------------
Ipsidy Inc. filed its quarterly report on Form 10-Q, disclosing a
net loss of $3,836,421 on $793,789 of total net revenues for the
three months ended March 31, 2020, compared to a net loss of
$2,262,739 on $740,378 of total net revenues for the same period in
2019.

At March 31, 2020, the Company had total assets of $12,623,776,
total liabilities of $8,028,087, and $4,595,689 in total
stockholders' equity.

Ipsidy said, "There is no assurance that the Company will ever be
profitable or be able to secure funding or generate sufficient
revenues to sustain operations.  As such, there is substantial
doubt about the Company's ability to continue as a going concern."

A copy of the Form 10-Q is available at:

                       https://is.gd/AFATq8

Ipsidy Inc., formerly ID Global Solutions Corporation, operates an
Identity as a Service (IDaaS) platform that delivers a suite of
secure, mobile, biometric identity solutions, available to any
vertical, anywhere.  The Company was founded in 2009 and is
headquartered in Long Beach, New York.


iSHARES JP MORGAN: S&P Lowers Fund Credit Quality Rating to 'Bf'
----------------------------------------------------------------
S&P Global Ratings lowered its fund credit quality rating (FCQR) on
iShares J.P. Morgan EM High Yield Bond ETF (EMHY), managed by
BlackRock Fund Advisors (BFA), to 'Bf' from 'B+f'. At the same
time, S&P lowered its fund volatility rating (FVR) to 'S5' from
'S4'. The 'Bf' FCQR signifies that the credit quality of the fund's
portfolio exposure is very weak.

During its 2019 annual review, S&P had affirmed the 'B+f' rating on
the fund, based in part on an assessment of the credit quality of
the fund throughout 2019. S&P is now lowering the FCQR because the
credit quality of the fund's underlying portfolio of investments
has declined on a monthly basis. In S&P's view, it now exhibits
risk equivalent to the 'Bf' rating level following a change in the
fund's underlying index from the Morningstar Emerging Markets High
Yield Bond Index to the J.P. Morgan USD Emerging Markets High Yield
Bond Index.

"We understand the components of the underlying index, and the
degree to which these components represent certain industries, are
likely to change over time," S&P said.

EMHY seeks to track the investment results of an index composed of
U.S. dollar-denominated, emerging market speculative-grade
sovereign and corporate bonds.

S&P views the investment manager, BFA, as strong and the portfolio
risk assessment as neutral. The rating agency does not assess
credit culture or credit research of funds that are passively
managed against an index. S&P's portfolio risk assessment focused
on counterparty risk, concentration risk, liquidity, and the fund
credit score cushion (the proximity of the preliminary FCQR to a
fund rating threshold).

The 'S5' FVR signifies that the fund exhibits high to very high
volatility of returns comparable to a portfolio of long-duration
government securities, typically maturing beyond 10 years and
denominated in the base currency of the fund. S&P is now lowering
the FVR because the fund's annualized standard deviation of returns
has recently increased, and the fund's distribution of monthly
returns has widened. S&P anticipates the fund's volatility will
remain in line with the 'S5' rating because of the fund's high
concentration to emerging markets and speculative-grade issuers,
which the rating agency believes will remain under pressure over
the near term, potentially affecting the volatility of monthly fund
returns.

"In our analysis of the FVR, we evaluated portfolio risk, taking
into account duration, credit exposures, liquidity, derivatives,
leverage, foreign currency, and investment concentration. We do not
expect these risk factors to contribute to a level of volatility
that differs significantly from that observed in the assessment of
the preliminary FVR," S&P said.

In determining the FCQR and FVR, S&P performed a comparable rating
analysis with other iShares ETFs targeting U.S. dollar-denominated,
speculative-grade corporate bonds that have similar portfolio
strategy and composition. S&P focused on a holistic view of the
fund's portfolio credit quality and characteristics relative to its
peers.

The investment manager, BFA, is a wholly owned subsidiary of
BlackRock Inc. (AA-/Stable/A-1+), which, as of March 31, 2020, has
assets under management of approximately US$6.47 trillion. iShares
consists of a global lineup of over 900 exchange-traded funds
(ETFs) with $1.85 trillion in assets under management.

An FCQR, also known as a bond fund rating, is a forward-looking
opinion about the overall credit quality of a fixed-income
investment fund. FCQRs, identified by the 'f' suffix, are assigned
to fixed-income funds, actively or passively managed, typically
exhibiting variable net asset values. The ratings reflect the
credit risks of the portfolio investments, the level of the fund's
counterparty risk, and the risk of the fund's management ability
and willingness to maintain current fund credit quality. Unlike
traditional credit ratings (e.g., issuer credit ratings), an FCQR
does not address a fund's ability to meet payment obligations and
is not a commentary on yield levels.

An FVR is a forward-looking opinion about a fixed-income investment
fund's volatility of returns relative to that of a reference index
denominated in the base currency of the fund. A reference index is
composed of government securities associated with the fund's base
currency. FVRs are not globally comparable. FVRs reflect S&P's
expectation of a fund's future volatility of returns to remain
consistent with its historical volatility of returns. FVRs reflect
S&P's view of a fund's sensitivity to interest rate risk, credit
risk, and liquidity risk, as well as other factors that may affect
returns such as use of derivatives, use of leverage, exposure to
foreign currency risk and investment concentration, and fund
management. Different symbology is used to distinguish FVRs from
S&P's traditional issue or issuer credit ratings. S&P does so
because FVRs do not reflect creditworthiness, but rather it views
of a fund's volatility of returns.

S&P reviews pertinent fund information and portfolio reports
monthly as part of its surveillance process of its FCQRs and FVRs.


J & R VALLEY: Hires Santiago Gonzalez as Accountant
---------------------------------------------------
J & R Valley Oilfield Services, Inc. and Mission Vacuum & Pump
Truck Service, Inc. seek authority from the U.S. Bankruptcy Court
for the Southern District of Texas to hire Santiago Gonzalez Jr,
CPA as their accountant.

The firm's services will include:

      (a) the preparation of Debtors' tax reports, monthly
operating reports and monthly financial reports;

      (b) the preparation of Debtors' tax returns;

      (e) analysis of cash flow to prepare a feasible plan of
reorganization; and

      (f) financial advice on Debtor's operations and other
financial information.

The firm will be paid at hourly rates as follows:

     Santiago Gonzalez Jr.   CPA          $150
     Rosie Lopez             Bookkeeper   $75
     Ruben Vasquez           Bookkeeper   $65

Santiago Gonzalez Jr. disclosed in court filings that he and other
employees of the firm neither represent nor hold any interest
adverse to Debtors and their bankruptcy estates.

The firm can be reached through:

     Santiago Gonzalez Jr.
     Santiago Gonzalez Jr. CPA
     1307 S Closner Blvd
     Edinburg, TX 78539
     Phone:  956-383-5378

                About J & R Valley Oilfield Services

J & R Valley Oilfield Services Inc. is a company that operates in
the oil and gas field services industry.

On June 1, 2020, J & R Valley and its affiliate, Mission Vacuum &
Pump Truck Service, Inc., filed voluntary petitions for relief
under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Lead Case
No. 20-70182).  

At the time of the filing, J & R Valley disclosed assets of between
$1 million and $10 million and liabilities of the same range.
Mission Vacuum had estimated assets of between $500,001 and $1
million and liabilities of between $1 million and $10 million as of
the petition date.   

Judge Eduardo V. Rodriguez oversees the cases.  Debtors have tapped
Villeda Law Group as their legal counsel, and Santiago Gonzalez Jr,
CPA as their accountant.


J.C. PENNEY: Honigman Represents Mitchell Road, Mt. Pleasant
------------------------------------------------------------
In the Chapter 11 cases of J.C. Penney Company, Inc., et al., the
law firm of Honigman LLP submitted a verified statement under Rule
2019 of the Federal Rules of Bankruptcy Procedure, to disclose that
it is representing Mitchell Road Mall LLC and Mt. Pleasant Shopping
Center, LLC.

Honigman represents the following unaffiliated landlords, as
creditors and parties in interest, with respect to the Debtors'
chapter 11 bankruptcy cases:

   a. Mitchell Road Mall LLC, the address of which is c/o Farbman
Group, 28400 Northwestern Highway, 4th Floor, Southfield, MI 48034.
Mitchell Road, as successor in title to Cadillac Associates, is the
landlord under an unexpired lease of non-residential real property,
dated as of November 1, 1988, as amended, entered into with J.C.
Penney Corporation, Inc., as tenant, with respect to certain
premises in the Cadillac Shopping Center in Cadillac, Michigan.
This store location is on the list of the Debtors' stores proposed
to be closed, as included in Debtors' Emergency Motion for Entry of
an Order (I) Authorizing the Debtors to Assume and Perform Under
the Consulting Agreement, (II) Approving Procedures for Store
Closing Sales, (III) Approving the Continuation or Implementation
of Related Non- Insider Discretionary Payments, and (IV) Granting
Related Relief [Docket No. 542]. Mitchell Road is a landlord and
creditor of the Debtors with aggregate claims in an amount unknown
at this time; and

   b. Mt. Pleasant Shopping Center, LLC, the address of which is
c/o Agree Limited Partnership, 70 E. Long Lake Road, Bloomfield
Hills, MI 48304. Mt. Pleasant, as successor in interest to Mt.
Pleasant Shopping Center, is the landlord under an unexpired lease
of non- residential real property, dated as of June 27, 1975, as
amended, entered into with J.C. Penney Corporation, Inc., as
tenant, with respect to certain premises in the Mt. Pleasant
Shopping Center in Mt. Pleasant, Michigan. This store location is
on the list of the Debtors' stores proposed to be closed, as
included in the Debtors' Notice of Phase 2 Store Closing Sales
[Docket No. 835]. Mt. Pleasant is a landlord and creditor of the
Debtors with aggregate claims in an amount unknown at this time.

Honigman is representing each of these clients individually. They
do not constitute a committee or group of any kind.

The terms and conditions of Honigman's engagement by each of
Mitchell Road and Mt. Pleasant, respectively, are protected from
disclosure by the attorney-client privilege.

Honigman reserves the right to amend or supplement this Verified
Statement in accordance with Fed. R. Bankr. P. 2019.

Counsel for Mitchell Road Mall LLC and Mt. Pleasant Shopping
Center, LLC can be reached at:

          HONIGMAN LLP
          Lawrence A. Lichtman, Esq.
          2290 First National Building
          660 Woodward Avenue
          Detroit, MI 48226-3506
          Telephone: (313) 465-7590
          Facsimile: (313) 465-7591
          Email: llichtman@honigman.com

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

                      About J.C. Penney

J.C. Penney Corporation, Inc., is an American retail company,
founded in 1902 by James Cash Penney and today engaged in marketing
apparel, home furnishings, jewelry, cosmetics, and cookware.  The
company was called J.C. Penney Stores Company from 1913 to 1924,
when it was reincorporated as J.C. Penney Co.

On May 15, 2020, JCPenney announced that it has entered into a
restructuring support agreement with lenders holding 70% of
JCPenney's first lien debt.  The RSA contemplates agreed-upon
terms
for a pre-arranged financial restructuring plan that is expected
to
reduce several billion dollars of indebtedness.  To implement the
Plan, the Company and its affiliates on May 15, 2020, filed
voluntary petitions for reorganization under Chapter 11 of the
U.S.
Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 20-20182).

Kirkland & Ellis LLP is serving as legal advisor, Lazard is
serving
as financial advisor, and AlixPartners LLP is serving as
restructuring advisor to the Company.  Prime Clerk is the claims
agent, maintaining the page http://cases.primeclerk.com/JCPenney


JAGUAR HEALTH: Amends A/R Purchase Agreement with Oasis Capital
---------------------------------------------------------------
Jaguar Health, Inc. and its wholly owned subsidiary, Napo
Pharmaceuticals, Inc. have jointly entered into an amendment to the
accounts receivable purchase agreement with Oasis Capital, LLC,
dated May 12, 2020, pursuant to which Oasis agreed to purchase
additional accounts receivable of the Company related to the sales
of the Company's Mytesi drug product to Cardinal Health for the
period of May 2020 through June 24, 2020.  The Spring 2020 Accounts
Receivable have a gross value of $2,859,132.

"We are pleased to enter into this amendment with Oasis.  Based on
the success of the first tranche of accounts receivable financing
we are able to further our strategy of bringing in non-dilutive
capital and striving to become a stable, cash flow positive
commercial business," said Lisa Conte, Jaguar's president and CEO.

Per the terms of the agreement, Oasis will receive a fee of 5.45%
of the $2,859,132 Spring 2020 Accounts Receivable following their
purchase of the Spring 2020 Accounts Receivable for $1,215,131, an
increased percentage of the gross accounts receivable compared to
the April 2020 purchase.  As with the April 2020 sales of Mytesi,
Oasis will return to the Company any amount that exceeds the sum of
the Purchase Price and the Fee.  As with all Mytesi gross sales,
the Spring 2020 Accounts Receivable will be reduced by Medicare,
ADAP 340B chargebacks, returns, and wholesale distribution fees
based on historical trends to determine net sales.

Under the amendment, Oasis is entitled to a one-time transaction
fee of $10,000.

                        About Jaguar Health

Jaguar Health, Inc. -- http://www.jaguar.health-- is a commercial
stage pharmaceuticals company focused on developing novel,
sustainably derived gastrointestinal products on a global basis.
The Company's wholly owned subsidiary, Napo Pharmaceuticals, Inc.,
focuses on developing and commercializing proprietary human
gastrointestinal pharmaceuticals for the global marketplace from
plants used traditionally in rainforest areas. Its Mytesi
(crofelemer) product is approved by the U.S. FDA for the
symptomatic relief of noninfectious diarrhea in adults with
HIV/AIDS on antiretroviral therapy.

Jaguar reported a net loss of $38.54 million for the year ended
Dec. 31, 2019, compared to a net loss of $32.15 million for the
year ended Dec. 31, 2018.  As of March 31, 2020, the Company had
$33.28 million in total assets, $16.67 million in total
liabilities, $10.37 million in series A redeemable convertible
preferred stock, and $6.23 million in total stockholders' equity.

Mayer Hoffman McCann P.C., in San Francisco, California, the
Company's auditor since 2019, issued a "going concern"
qualification in its report dated April 2, 2020 citing that the
Company has experienced losses since inception, significant cash
used in operations, and is dependent on future financing to meet
its obligations and fund its planned operations.  These conditions
raise substantial doubt about its ability to continue as a going
concern.


JOSEPH A. BRENNICK: Hearing on Auction Sale of Properties Abated
----------------------------------------------------------------
Judge Catherine Peek McEwen of the U.S. Bankruptcy Court for the
Middle District of Florida abated consideration of Joseph A.
Brennick's auction sale of the following real properties:

        a. Parcel 3: Sarasota Head Injury Holding Co., Inc. - 4601
Lockwood Ridge Rd, Sarasota, Parcel ID 0029-03-0007, 1.91-acre
vacant land;

        b. Parcel 4: Sarasota Head Injury Holding Co., Inc.- 4409
Lockwood Ridge Rd., Sarasota, Parcel ID 0029-03-0006, 0.34-acre
contiguous vacant land;

        c. Parcel 5: Brennick, Joseph A. - 1070 Florida Ave. S.
Hardee 09-34-25-0000-04170-000, 1.2-acre Single family residence;

        d. Parcel 6: Brennick, Joseph A. - Florida Ave. S. Hardee
09-34-25-0000-04180-000, 2.4-acre Vacant land

        e. Parcel 7: Brennick, Joseph A. - 1120 Florida Ave. S
Hardee 09-34-25-0000-04190-000, 1.2-acre contiguous vacant land;

        f. Parcel 8: Brennick, Joseph A. - 1130 Florida Ave. S.
Hardee 09-34-25-0000-04200-000, 0.63-acre contiguous vacant land;
and

        g. Parcel 9: 9204 Bay Street, Inc. - 204 Bay St. W Hardee
03-34-25-0200-00037-0016, Lot - Single family residence.

After review, the Court determines that the Motion is deficient as
follows: A specific description of the property encumbered by the
lien, including legal description if real property or VIN if
vehicle, is not included.  Consideration of the motion is abated
until the deficiency is corrected.

On May 29, 2020, the Court entered an order granting in part and
denying in part the Bidding Procedures Motion.  The auction
approved in the Bidding Procedures Order will be conducted by
Soldnow, LLC, doing business as Tranzon Driggers.  

The Clerk's Office is directed to serve a copy of the Order on
interested parties.

Joseph A. Brennick sought Chapter 11 protection (Bankr. M.D. Fla.
Case No. 18-07874) on Sept. 18, 2018.  The Debtor tapped Edward J.
Peterson, III, Esq., at Stichter, Riedel, Blain & Postler, P.A., as
counsel.


KLAUSNER LUMBER: July 24 Auction of Substantially All Assets Set
----------------------------------------------------------------
Judge Karen B. Owens of the U.S. Bankruptcy Court for the District
of Delaware has entered an order amending certain deadlines set
forth in the approved bidding procedures in connection with
Klausner Lumber One, LLC's auction sale of substantially all
assets.

Those portions of the Bidding Procedures Order and Related Bidding
Procedures and Assumption and Assignment Procedures establishing
various deadlines with respect to the sale process are amended as
follows:

     a. 6/18/20 at 5:00 p.m. -- 6/25/20 at 5:00 p.m. - Stalking
Horse Bid Deadline

     b. 6/22/20 -- 6/29/20 - Date to extend Stalking Horse Bid
Deadline with agreement of Consultation Parties

     c. 6/29/20 at 12:00 p.m. -- 7/7/20 - Stalking Horse
Designation Deadline

     d. 7/01/20 -- 7/8/20 - Stalking Horse Notice
Deadline/Assumption Notice Deadline  

     e. 7/02/20 -- 7/9/20 - Deadline for filings schedules to the
APA (i.e., 14 days prior to Sale Objection Deadline)

     f. 7/02/20 -- 7/9/20 Deadline to serve Adequate Assurance
Information for Stalking Horse Purchaser (i.e., within 2 business
days of Stalking Horse Designation Deadline)

     g. 7/08/20 -- 7/15/20 - Deadline to object to Stalking Horse
Notice (7 calendar days after Notice)

     h. 7/13/20 -- 7/20/20 Bid - Deadline

     i. 7/14/20 --7/21/20 - Adequate Assurance Information to be
provided to parties whose Assumed Contracts are included in the APA
(non-Stalking Horse Bidder)

     j. 7/15/20 -- 7/22/20 Deadline to designate Qualifying Bids
and Baseline Bid

     k. 7/16/20 at 4:00 p.m. -- 7/23/20 at 4:00 p.m. - Contract
Objection Deadline

     l. 7/16/20 at 4:00 p.m. -- 7/23/20 at 4:00 p.m. - Sale
Objection Deadline

     m. 7/17/20 at 10:00 a.m. -- 7/24/20 at 10:00 a.m. - Auction

     n. Earlier of 5 business hours after close of Auction or noon
the day after the Auction -- earlier of 5 business hours after
close of Auction or noon the day after the Auction - Notice of
Successful Bidder  

     o. 7/21/20 at 12:00 p.m. -- 7/28/20 at 12:00 p.m. - File
Agenda for Sale Hearing

     p. 7/21/20 at 4:00 p.m. -- 7/28/20 at 4:00 p.m. - Deadline for
Adequate Assurance Objections if successful bidder is not Stalking
Horse Bidder  

     q. 7/22/20 at 12:00 p.m. -- 7/29/20 at 12:00 p.m. - Reply due


     r. 7/23/20 at 10:30 a.m. -- 7/30/20 at 11:00 a.m. - Sale
Hearing

     s. 7/31/20 -- 8/6/20 - Outside date for Closing of Sale
All other terms and provisions of the Bidding Procedures Order,
Bidding Procedures and Assumption and Assignment Procedures will
remain in full force and effect except as expressly modified.

The Order will be effective immediately upon entry, and any stay of
orders provided for in Bankruptcy Rules 6004(h) or 6006(d) or any
other provision of the Bankruptcy Code, the Bankruptcy Rules or the
Local Rules is expressly waived.  The Debtor is not subject to any
stay in the implementation, enforcement or realization of the
relief granted in the Order, and may, in its sole discretion and
without further delay, take any action and perform any act
authorized or approved under the Order.

The requirements set forth in Local Rules 6004-1, 9006-1 and 9013-1
are satisfied or waived.

A copy of the Order will be served on the Sale Notice Parties
identified in the Bidding Procedures Order.  

A copy of the Bidding Procedures is available at
https://tinyurl.com/yayftv9y from PacerMonitor.com free of charge.

                    About Klausner Lumber One

Klausner Lumber One, LLC, is a privately held company in the lumber
and plywood products manufacturing industry.  It is 100% owned by
non-debtor Klausner Holding USA, Inc.

Klausner Lumber One sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Del. Case No. 20-11033) on April 30,
2020.  At the time of the filing, Debtor disclosed assets of
between $100 million and $500 million and liabilities of the same
range.

The Debtor tapped Westerman Ball Ederer Miller Zucker & Sharfstein,
LLP as bankruptcy counsel; Morris, Nichols, Arsht & Tunnell, LLP as
local counsel; Asgaard Capital, LLC as restructuring advisor; and
Cypress Holdings, LLC as investment banker.


LA MERCED: Opposition to OSP's Mortgage Property Sale Denied
------------------------------------------------------------
Judge Enrique S. Lamoutte of the U.S. Bankruptcy Court for the
District of Puerto Rico denied La Merced Limited Partnership SE's
opposition to the proposed sale by OSP Consortium, LLC, the
assignee of Condado 5, LLC, a secured creditor, of the Mortgage
Property for $4,059,354, cash, subject to overbid, filed on June 4,
2020.

The Mortgaged Property is described in the Registry of Property in
the Spanish language as follows:  

      --- URBANA: Predio de terreno radicado en la URBANIZACION
ELEONOR ROOSEVELT, radicada en el Barrio Hato Rey del término
municipal de Rio Piedras, hoy San Juan, Puerto Rico, con una cabida
de TRES MIL TRESCIENTOS CATORCE PUNTO VEINTICINCO (3,314.25) metros
cuadrados. En lindes por el NORTE, en ciento veintinueve (129) pies
nueve (9) pulgadas con la Avenida A; por el SUR, en igual medida
con terrenos de la Asociación de Miembros de la Policía Insular;
por el ESTE, en doscientos setenta y cinco (275) pies ocho y tres
cuartos (8 ¾) pulgadas, con la Calle "T"; y por el OESTE, en igual
medida con la Calle "H".

      --- Enclava en dicho terreno un edificio todo de concreto, de
dos (2) plantas, dedicado a una escuela privada.

      --- Finca número trece mil cuatrocientos cincuenta y tres
(13,453), inscrita alfolio cuatro (4) del tomo mil cuatrocientos
sesenta y seis (1466) de Rio Piedras Norte, en el Registro de la
Propiedad de Puerto Rico, Segunda Sección de San Juan.

                     About La Merced LP

La Merced Limited Partnership, S.E., is a single asset real estate,
as defined in 11 U.S.C. Section 101(51B)).  Based in San Juan,
Puerto Rico, La Merced LP filed a voluntary petition under Chapter
11 of the Bankruptcy Code (Bankr. D.P.R. Case No. 18-06858) on Nov.
27, 2018.  In the petition signed by Luz Celenia Castellano,
administrator, the Debtor disclosed $6,088,228 in liabilities.
Judge Enrique S. Lamoutte Inclan is the case judge.  Nelson Robles
Diaz Law Offices, PSC, led by founding partner Nelson Robles Diaz,
is the Debtor's counsel.


LEADING LIFE: S&P Lowers Senior-Living Revenue Bonds Rating to 'D'
------------------------------------------------------------------
S&P Global Ratings lowered its long-term ratings on Oklahoma
Development Finance Authority's series 2017A-1 and 2017A-2
senior-living revenue bonds, and the series 2017B senior-living
revenue bonds, both issued for Leading Life Senior Living Inc.,
Texas, to 'D' from 'CC.'

"The rating action is due to the missed payment of principal and
interest on the 2017A bonds and the missed payment of principal on
the 2017B bonds, on the scheduled July 1, 2020, interest payment
date, constituting a payment default on the bonds," said S&P Global
Ratings analyst Raymond Kim. However, the interest due on the 2017B
bonds was paid out of the project's debt service reserve fund on
July 1. According to S&P's "Timeliness of Payments and 'D'/'SD'
Criteria," published on RatingsDirect, an obligation rated 'D' is
in default.

The bond proceeds were issued to fund the acquisition of two memory
care communities containing a total of 86 memory care units. The
communities are located in Oklahoma City and Edmond, Okla.; Leading
Life Senior Living Inc., is the borrower on the transaction.


LEARNING CARE: Moody's Cuts CFR to Caa1, Outlook Negative
---------------------------------------------------------
Moody's Investors Service, in mid-June 2020, noted that it has
completed a periodic review of the ratings of Learning Care Group
(US) No. 2 Inc. and other ratings that are associated with the same
analytical unit.  The review was conducted through a portfolio
review in which Moody's reassessed the appropriateness of the
ratings in the context of the relevant principal methodology(ies),
recent developments, and a comparison of the financial and
operating profile to similarly rated peers. The review did not
involve a rating committee.  

Key rating considerations are summarized:

Learning Care's Caa1 CFR reflects high leverage as well as event
risk and an aggressive financial policy under private equity
ownership. The rating also considers the cyclical, highly
fragmented and competitive nature of the child-care and early
childhood education industry as well as the susceptibility to
reductions in federal and state funding support. However, the
rating is supported by the company's large scale within the
childcare and early childhood education industry, broad geographic
diversity within the U.S., and well-recognized brands. The rating
also incorporates the favorable long-term demographics, including
population growth, increasing percentage of dual income families as
well as increased focus on early childhood education.

                     Corp. Family Rating Downgrade

In early April 2020, Moody's downgraded Learning Care Group (US)
No. 2 Inc.'s Corporate Family Rating to Caa1 from B3, Probability
of Default Rating to Caa1-PD from B3-PD, the first lien credit
facilities' instrument ratings to B3 from B2, and second lien term
loan rating to Caa3 from Caa2. The outlook is negative.

The downgrade reflects Moody's expectations for significant revenue
and earnings decline in 2020 due to coronavirus related center
closures as well as Moody's projection for a recession in the U.S
in 2020, which could have a prolonged impact on earnings given the
company's business is highly dependent on the health of economy and
labor market employment. Moody's expects funded debt-to-EBITDA will
rise from 5.6x at year end 2019 to over 7.5x in 2020. Learning Care
has closed a significant number of its centers as of early April,
and Moody's expects efforts to contain the coronavirus will
restrict Learning Care's ability to reopen for an unknown period.
Learning Care typically charges on a weekly or monthly basis, and
Moody's believes a return to pre-pandemic enrollment levels will be
gradual once centers reopen because lower employment will reduce
center-based child care demand and some individuals may be
reluctant to put their children in social settings.

Downgrades:

Issuer: Learning Care Group (US) No. 2 Inc.

  Corporate Family Rating, Downgraded to Caa1 from B3

  Probability of Default Rating, Downgraded to Caa1-PD from B3-PD

  Senior Secured First Lien Bank Credit Facility, Downgraded to
  B3 (LGD3) from B2 (LGD3)

  Senior Secured Second Lien Term Loan, downgraded to Caa3 (LGD5)
  from Caa2 (LGD5)

Outlook Actions:

Issuer: Learning Care Group (US) No. 2 Inc.

Outlook, Revised to Negative from Stable

RATINGS RATIONALE

Learning Care's Caa1 CFR reflects high leverage with funded
debt-to-EBITDA expected to rise to above 7.5x in 2020 due to
expected earnings declines as well as a high cash burn during
center closures which could cause stress on liquidity should
closures or lower enrollment volumes persist. The rating is also
constrained by the cyclical, highly fragmented and competitive
nature of the child-care and early childhood education industry as
well as the susceptibility to reductions in federal and state
funding support. The rating also considers its event and financial
policy risk due to private equity ownership. However, the rating is
supported by the company's large scale within the childcare and
early childhood education industry, broad geographic diversity
within the U.S., and well-recognized brands. The rating also
incorporates the favorable long-term demographics, including
population growth, increasing percentage of dual income families as
well as increased focus on early childhood education.

The rapid and widening spread of the coronavirus outbreak,
deteriorating global economic outlook, falling oil prices, and
asset price declines are creating a severe and extensive credit
shock across many sectors, regions and markets. The combined credit
effects of these developments are unprecedented. The childcare
sector has been one of the sectors most significantly affected by
the shock. More specifically, the weaknesses in Learning Care's
credit profile, including its exposure to US quarantines have left
it vulnerable to shifts in market sentiment in these unprecedented
operating conditions and Learning Care remains vulnerable to the
outbreak continuing to spread. Moody's regards the coronavirus
outbreak as a social risk under its ESG framework, given the
substantial implications for public health and safety. Its action
reflects the impact on Learning Care of the breadth and severity of
the shock, and the broad deterioration in credit quality it has
triggered.

The negative outlook reflects Moody's view that Learning Care
remains vulnerable to coronavirus disruptions, rapidly
deteriorating economic environment in the US, as well as the
uncertainty regarding the timing of center re-openings. The
negative outlook also reflects Moody's view that liquidity stress
will increase should the center closures or lower enrollment
persist.

FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS

The ratings could be upgraded if the centers reopen on a timely
basis, volume recovers such that the company resumes revenue and
earnings growth with Moody's lease adjusted debt-to-EBITDA leverage
maintained below 6.0x with good liquidity including positive free
cash flow generation.

The ratings could be downgraded if center closures are prolonged or
volume recovery is slow upon center reopening such that operating
performance and liquidity continue to weaken.

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

Learning Care Group (US) No. 2 Inc. is a provider of early
childhood education and care services. The company operates about
920 centers (12 of which are located internationally) across the
United States. LCG has eight brands, including Childtime, Tutor
Time, The Children's Courtyard, La Petite Academy, Montessori
Unlimited, Everbrook Academy, Creative Kids Learning Centers, and
Pathways Learning Academy. The company has a licensed capacity to
serve approximately 130,000 children. LCG has been owned by private
equity firm American Securities LLC since 2014. LTM revenue was of
December 31, 2019 was approximately $1.05 billion.


LSCS HOLDINGS: S&P Alters Outlook to Negative, Affirms 'B-' ICR
---------------------------------------------------------------
S&P Global Ratings affirmed its 'B-' issuer credit rating and
issue-level ratings on LSCS Holdings, Inc.(also known as Eversana).
However, S&P revised its rating outlook to negative from stable.
The negative outlook reflects the risk that free cash flow will be
negative in 2020 and remain persistently negative.

The outlook revision reflects the potential for cash flow deficits
to be wider than S&P projects in 2020 and persistent. Integration
issues, challenges in the channel (due to freight challenges) and
compliance (vacancy in the top sales position) segments, along with
higher capital expenditure (capex) caused cash flow deficits in
2019. The channel business improved in the first quarter of 2020,
and the company filled the compliance position, but the COVID-19
pandemic has since caused some volatility in these segments. Active
pharmaceutical ingredient and drug supply shortages, rising
COVID-19 cases in some states, and the recession could dampen
growth and widen free cash flow deficits. Weakness in the
consulting business and other top line softness could persist in
2020 as a result of the recession and reduced travel. Integration
risks also remain, Triplefin took longer to become profitable, and
the company has made seven acquisitions in the last two years.

LSCS operates five business segments (channel, market access,
patient support, compliance, and Field Solutions) with a focus on
end-to-end drug commercialization. The company's main customers are
small to midsize pharmaceutical and biopharmaceutical companies as
well as a diverse set of customers for consulting services. S&P
believes LSCS tries to avoid competition with the big three
wholesalers (McKesson Corp.,AmerisourceBergen Corp., and Cardinal
Health Inc.) by focusing on specialty drugs. Customers can use
LSCS' third-party logistics (3PL) shipment systems instead of the
traditional distribution. LSCS also offers broader pre- and
post-commercialization consulting services, which carry higher
margins, to set itself apart from the wholesalers' core drug
distribution businesses. Nonetheless, S&P believes some
subsidiaries of those wholesalers compete directly with LSCS and
have much more resources. In addition, the rating agency sees an
increasing number of specialty pharmacies and contract research
organizations expanding in this space as a natural extension to
their core businesses.

The rating reflects LSCS's high leverage, weak free cash flow
generation, some customer concentration (its top five customers
account for about 25% of total revenue), and small scale in the
fragmented drug commercialization industry. It also reflects that
the company is not a leader in any of the services it offers.
However, it has a flexible cost structure, high recurring revenue,
and a supportive industry backdrop since S&P sees continued growth
in pharma research and development spending and increased
outsourced commercialization activities. Small to midsize biopharma
companies lack the internal expertise to deal with complicated drug
launches, payer contracting, and patient support functions.

For 2020, S&P expects low- to mid-single-digit percentage revenue
growth and the company to produce $40 million-$50 million adjusted
EBITDA. S&P expects slight cash flow deficits of about $5 million
and leverage to continue to be high, exceeding 6x for the next two
years.

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

-- Health and safety

The negative outlook reflects the risk that free cash flow deficits
in fiscal 2020 could be wider than S&P projects or remain
persistently negative.

"We could lower the rating if new contract wins or operating
performance remain weak, resulting in persistent free cash flow
deficits or reported EBITDA to cash interest coverage below 1.2x,"
S&P said.

"We could revise the outlook back to stable if LSCS improves
operating performance, maintains sufficient liquidity, comfortably
covers fixed charges, and generates consistent positive free cash
flow," the rating agency said.


MACK-CALI REALTY: Fitch Lowers LT IDRs to BB-, Outlook Negative
---------------------------------------------------------------
Fitch Ratings has downgraded the Long-Term Issuer Default Ratings
for Mack-Cali Realty Corporation (NYSE: CLI) and its operating
subsidiary Mack-Cali Realty, L.P. to 'BB-' from 'BB'. The Rating
Outlook is Negative. Mack-Cali's Issuer Default Rating reflects the
company's high leverage, weak liquidity coverage, active
development program, limited unsecured debt and equity capital
access and moderate complexity from joint venture investments,
which also limit the company's strategic and operational control
and reduce financial reporting transparency.

The Negative Rating Outlook considers the potential for CLI's
leverage to increase further given coronavirus pandemic related
economic pressure on office fundamentals generally, as well as slow
lease-up in CLI's Jersey City waterfront office portfolio
specifically, execution risk in completing the sales of the
suburban office portfolio and capital requirements for the
company's development pipeline.

KEY RATING DRIVERS

Coronavirus Pressuring Office Fundamentals: Mack-Cali's portfolio
has experienced modest impact from coronavirus-related economic
weakness since March 2020. The company collected approximately 95%
of office rents and 96% of apartment rents in April and May.
However, the company has seen pressure in smaller components of its
portfolio, including amenity retail (roughly 2% of annual
revenues), hotels (4%) and parking (4%). Mack-Cali withdrew its FFO
guidance for FY2020.

Speculative-Grade Credit Metrics: Fitch expects Mack-Cali's
leverage will remain elevated and increase to above 12x in Fitch's
1-2-year Rating Outlook horizon, improving modestly, but sustaining
above 10x through 2023. This is caused by a combination of
continuing to struggle addressing tenant moveouts in the company's
New Jersey waterfront office portfolio that began in 2018, where
CLI has made modest progress backfilling vacant space. However, the
situation has been exacerbated by the pandemic from both an
economic and logistical perspective. In addition, suburban asset
sales that the company is in process of executing that are geared
to pay off debt are offset by debt-funded development projects,
which serve to increase leverage further in 2021.

Future delivering is contingent upon incremental NOI from
multifamily development stabilizations, debt repayment from net
asset sales proceeds and leasing success in its Jersey City
waterfront office portfolio. As such, CLI is marketing its NJ
suburban office portfolio and expects to complete the sale by 2021.
The company has publicly discussed a plan to de-lever going forward
with the proceeds from asset sales to go toward paying off its two
unsecured bonds and pursue a secured financing strategy.

Apartments Poised to Comprise Majority: Fitch expects multifamily
to comprise over 50% of NOI by 2021 given the planned sales of the
suburban office portfolio and oncoming development projects over
the next few years. The company's growing multifamily portfolio
offers better growth and liquidity prospects, albeit elevates
development risk. CLI's multifamily portfolio continues to perform
relatively steadily, representing roughly one-third of total
company NOI at year-end 2019.

Fitch views the de-emphasis of the office portfolio favorably since
NJ as a secondary office market, has weaker institutional lender
and investor interest than core, 24-hour gateway CBD office
markets, such as New York, Washington, D.C., Boston, Chicago and
San Francisco.

New Jersey office fundamentals will remain a headwind given the
state's inhospitable business climate that includes high labor and
living costs, as well as regulatory and tax burdens. New Jersey
employment growth has been weak during the past decade, partly due
to telecom and pharma industry consolidation, which has led to job
eliminations and relocations out of state.

Positively, CLI's extensive portfolio repositioning toward the
Jersey City Waterfront focuses on one of the strongest NJ office
submarkets, which generally has above average occupancy and rental
rates for Class A NJ office space and mass transit access.

Thus far, it appears renewal leasing is generally proceeding
effectively, such that tenant retention will be higher in 2020 but
rents may remain steady to declining slightly. However,
speculative, new leasing has been on hold due to coronavirus and
potential tenants reassessing their space needs; this has been
compounded by the inability to conduct tours in the last couple
months, which should at least not be an impediment as things
continue to reopen.

Active Development Posture: CLI has maintained an aggressive
development program, despite the recent jump in leverage due to
tenant losses. CLI's frequent use of secured construction loans and
JV equity are risk mitigants relative to its higher-rated REIT
peers that primarily fund developments with the corporate balance
sheet, including through revolver borrowings.

The company's multifamily development focus also lowers the
development risk profile relative to office given the availability
of competitively priced GSE capital to permanently refinance
construction loans. Multifamily development is inherently
speculative given the inability to pre-lease; however, its basic
need (e.g. shelter) aspect, especially in an era of potential
greater working from home flexibility, and ability to re-price
quickly given the short-term nature of the leases can help balance
development risk.

Longer-term, Fitch views the growing share of residential NOI as a
positive for CLI's credit profile given better inherent
fundamentals than NJ office. Multifamily assets generally have more
stable occupancy rates and better rent growth potential relative to
NJ office assets and they are less capital intensive.

JVs Add Complexity, Reduce Flexibility: CLI's joint venture
activity and redeemable preferred equity issuance have increased
the company's complexity by decreasing its reporting transparency
and creating contingent liabilities. CLI has increasingly relied on
joint venture equity capital to fund new investments, in the
context of the common stock trading at an approximate 25% discount
to NAV.

In 1Q17, the company secured $300 million investment commitment
from Rockpoint Group, LLC in its multifamily Roseland Residential
LP (RRLP) subsidiary. The initial $150 million closed in March 2017
with CLI subsequently taking down the remaining $150 million
commitment.

The investment agreement for this consolidated JV limits RRLP's
flexibility to raise capital through taxable property sales,
although it may engage in tax-deferred like-kind exchanges of
properties or it may proceed in another manner designed to avoid
the recognition of gains for tax purposes.

DERIVATION SUMMARY

CLI owns a concentrated portfolio, primarily consisting of metro
and suburban New Jersey office assets and, to a lesser extent,
multifamily properties. The company's portfolio markets have more
challenging office market demand fundamentals and lower supply
barriers than higher rated peer's SL Green and Vornado. The
company's operating strategy also entails elevated development risk
exposure, which is partially offset by related residential property
portfolio with better growth and liquidity elements. CLI has not
publicly committed to financial policy targets, with current
metrics consistent with high-speculative grade REITs. The company
has weaker access to unsecured debt and equity capital,
notwithstanding its prior long-tenure as a regular public unsecured
bond issuer.

KEY ASSUMPTIONS

  -- Mid-single-digit SSNOI decline in 2020 due to coronavirus
impact, which is driven by an assumed 300bps occupancy loss and
flat releasing spreads, followed by low-to-mid SSNOI growth in
2021-2023, based on low single-digit GAAP rent spreads and
substantially recovered occupancy;

  -- Development spend of approximately $500 million in 2020 and
$100 million from 2021 to 2023 with anticipated delivery volumes of
approximately $400 million, $150 million, $450 million, $150
million during the same time period at 6.0% yields;

  -- Dispositions of approximately $850 million and $525 million in
2020 and 2021, respectively, and $50 million per annum for the
remainder of the forecast period, with proceeds going to partially
pay down unsecured notes.

RATING SENSITIVITIES

Factors that could, individually or collectively, lead to positive
rating action/upgrade:

  -- Leverage sustaining below 10.0x;

  -- Stronger access to public equity and non-bank unsecured debt
     capital;

  -- Tangible progress in leasing up vacancy in Jersey City office
     waterfront portfolio;

  -- More conservative development policies;

  -- FCC sustaining above 1.5x.

Factors that could, individually or collectively, lead to negative
rating action/downgrade:

  -- Leverage (net debt/ recurring operating EBITDA) sustaining
     above 11.5x;

  -- A sustained liquidity shortfall;

  -- FCC sustaining below 1.0x.

BEST/WORST CASE RATING SCENARIO

International scale credit ratings of Non-Financial Corporate
issuers have a best-case rating upgrade scenario (defined as the
99th percentile of rating transitions, measured in a positive
direction) of three notches over a three-year rating horizon; and a
worst-case rating downgrade scenario (defined as the 99th
percentile of rating transitions, measured in a negative direction)
of four notches over three years. The complete span of best- and
worst-case scenario credit ratings for all rating categories ranges
from 'AAA' to 'D'. Best- and worst-case scenario credit ratings are
based on historical performance.

LIQUIDITY AND DEBT STRUCTURE

Low Liquidity Coverage: CLI's sources of liquidity fall short of
uses by approximately $17 million resulting in 1.0x liquidity
coverage under Fitch's liquidity analysis for the period from April
1, 20120 to Dec. 31, 2021. The company's liquidity coverage
improves to 1.3x assuming it refinances 80% of its secured mortgage
maturities through 2021. The company plans to reduce its line
balance with the proceeds from anticipated asset sales this year.

The size and quality of CLI's unencumbered asset pool has arguably
decreased during the last 2-3 years. The majority of properties CLI
sold during 2016 were unencumbered, including some of the
portfolio's better-quality assets located in non-core markets,
including its Manhattan and two Washington, D.C. properties. The
company has acquired new unencumbered assets in core markets, such
as Metropark and Hoboken, NJ.

CLI's secured debt as a percent of total debt increased to 71% at
March 31, 2020 from 50% at the end of 2017 and 38% at the end of
2016. Fitch estimates the company's unencumbered assets cover its
net unsecured debt (UA/UD) by 1.7x based on a direct capitalization
approach of unencumbered NOI using a stressed 9.0% capitalization
rate. Fitch usually views 2.0x UA/UD coverage as the standard
threshold for investment-grade REITs.

Weak Relative Capital Access: CLI has increasingly relied on
secured mortgage debt, unsecured bank term loans, joint venture and
redeemable preferred equity and asset sales proceeds to fund
refinancing its maturing obligations and new investments, in the
context of limited access to attractively priced public equity and
debt capital. Unsecured bank term loans and revolvers comprised 9%
of the company's debt capital stack at March 31, 2020, in
comparison with 28% and 29% at year-end 2018 and 2017,
respectively. The percentage comprised of unsecured bonds remained
relatively stable in recent years, at around 20%, down from 35% at
YE2016.

CLI has two remaining unsecured public bond issuances outstanding,
which include its $300 million 4.5% senior unsecured notes due
April 2022 and its $275 million 3.125% senior unsecured notes due
May 2023. In its 2017 Form 10-K filed with the SEC, CLI disclosed
it is considering the redemption or purchase of its senior
unsecured notes in public tender offers or privately-negotiated
transactions and the issuance of additional, or exchange of
current, unsecured debt of the Operating Partnership or common and
preferred stock of the General Partner, among other capital raising
options.

SUMMARY OF FINANCIAL ADJUSTMENTS

  -- EBITDA excludes non-cash stock compensation;

  -- EBITDA includes recurring cash distributions from
     unconsolidated JVs;

  -- Fitch has included CLI's Series A and A1 redeemable preferred
     in CLI's debt quantum to calculate leverage.

REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF
RATING

The principal sources of information used in the analysis are
described in the Applicable Criteria.

ESG CONSIDERATIONS

The highest level of ESG credit relevance, if present, is a score
of 3. This means ESG issues are credit-neutral or have only a
minimal credit impact on the entity(ies), either due to their
nature or to the way in which they are being managed by the
entity(ies).

Mack-Cali Realty Corporation

  - LT IDR BB-; Downgrade

Mack-Cali Realty, L.P.

  - LT IDR BB-; Downgrade

  - Senior unsecured; LT BB-; Downgrade


MACY'S INC: Egan-Jones Lowers Sr. Unsecured Ratings to B-
---------------------------------------------------------
Egan-Jones Ratings Company, on June 26, 2020, downgraded the
foreign currency and local currency senior unsecured ratings on
debt issued by Macy's Incorporated to B- from B.

Headquartered in Cincinnati, Ohio, Macy's, Incorporated operates
department stores in the United States.



MARIMED INC: Amends Promissory Note Issued to SYYM LLC
------------------------------------------------------
MariMed Inc. entered into an Amendment Agreement to amend and
restate the Amended and Restated Promissory Note, dated Feb. 10,
2020, in the original principal amount of $11,500,000 issued to
SYYM LLC.  Pursuant to the terms of the Amendment Agreement, the
Company issued to the Holder a Second Amended and Restated
Promissory Note in the principal amount of $8,811,653.84, bearing
interest at the rate of fifteen percent per annum, due on June 24,
2022, with a minimum amortization payment of $4,000,000 due on or
before July 15, 2020, subject to extension through July 31, 2020.
The New Note is convertible into shares of the Company's common
stock at the option of the Holder.  Any shares issues upon such
conversion are subject to monthly volume limitations with respect
to the resale of such shares.  The New Note is secured by a first
priority security interest in the assets of certain of the
Company's subsidiaries and brands and a pledge of the Company's
ownership interest in certain of its subsidiaries.  In addition,
the Company issued to the Holder three-year warrants to purchase up
to 750,000 shares of the Company's common stock at $0.50 per
share.

                         About MariMed

MariMed Inc., a multi-state cannabis operator, is dedicated to
improving the health and wellness of people through the use of
cannabinoids and cannabis products.  The Company develops, owns,
and manages seed to sale state-licensed cannabis facilities, which
are models of excellence in horticultural principles, cannabis
cultivation, cannabis-infused products, and dispensary operations.
MariMed has an experienced management team that has produced
consistent growth and success for the Company and its managed
business units.

MariMed reported a net loss of $81.88 million for the year ended
Dec. 31, 2019, compared to a net loss of $13.31 million for the
year ended Dec. 31, 2018.  As of March 31, 2020, the Company had
$65.34 million in total assets, $58.92 million in total
liabilities, $14.72 million in series B convertible preferred
stock, and a total stockholders' deficit of $8.30 million.

M&K CPAS, PLLC, in Houston, Texas, the Company's auditor since
2018, issued a "going concern" qualification in its report dated
March 31, 2020, citing that the Company has suffered recurring net
losses from operations and has a net capital deficiency, which
raises substantial doubt about its ability to continue as a going
concern.


MARIMED INC: Posts $2.34 Million Net Loss in First Quarter
----------------------------------------------------------
MariMed Inc. reported a net loss of $2.34 million on $7.47 million
of revenues for the three months ended March 31, 2020, compared to
net income of $77,988 on $3.51 million of revenues for the three
months ended March 31, 2019.

As of March 31, 2020, the Company had $65.34 million in total
assets, $58.92 million in total liabilities, $14.72 million in
series B convertible preferred stock, and a total stockholders'
deficit of $8.30 million.

At March 31, 2020, the Company had negative working capital of
approximately $24.2 million, and for the quarter then ended,
incurred negative net cash flow from operations of approximately
$407,000.

MariMed said, "As of the filing date of this report, the Company is
in continuing discussions with financial institutions to explore
the potential to generate liquidity from the Company's unencumbered
real property through mortgage-backed financings, the refinancing
of certain outstanding mortgage loans, the sales-leaseback of
certain properties, and/or a combination thereof.  These
discussions and resultant transactions have been hindered by the
shelter-in-place executive orders mandated across the United States
during the period March 2020 through May 2020 in response to the
COVID-19 pandemic.  Based on the Company's discussions to date,
such financings could potentially generate upwards of $17.0 million
of proceeds to the Company; however, the Company has no current
commitments, nor is there any assurance that terms will be reached
that will be acceptable to the Company."

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

                        https://is.gd/Mq5LPm

                         About MariMed

MariMed Inc., a multi-state cannabis operator, is dedicated to
improving the health and wellness of people through the use of
cannabinoids and cannabis products.  The Company develops, owns,
and manages seed to sale state-licensed cannabis facilities, which
are models of excellence in horticultural principles, cannabis
cultivation, cannabis-infused products, and dispensary operations.
MariMed has an experienced management team that has produced
consistent growth and success for the Company and its managed
business units.

MariMed reported a net loss of $81.88 million for the year ended
Dec. 31, 2019, compared to a net loss of $13.31 million for the
year ended Dec. 31, 2018.

M&K CPAS, PLLC, in Houston, Texas, the Company's auditor since
2018, issued a "going concern" qualification in its report dated
March 31, 2020, citing that the Company has suffered recurring net
losses from operations and has a net capital deficiency, which
raises substantial doubt about its ability to continue as a going
concern.


MCDERMOTT INT'L: Says Substantial Going Concern Doubt Exists
------------------------------------------------------------
McDermott International, Inc. filed its quarterly report on Form
10-Q, disclosing a net loss (attributable to common stockholders)
of $1,382 million on $1,906 million of revenues for the three
months ended March 31, 2020, compared to a net loss (attributable
to common stockholders) of $70 million on $2,063 million of
revenues for the same period in 2019.

At March 31, 2020, the Company had total assets of $8,300 million,
total liabilities of $11,601 million, and $3,595 million in total
stockholders' deficit.

The Company said, "As a result of our financial condition, the
defaults under our debt agreements and the risks and uncertainties
surrounding the Chapter 11 Cases, substantial doubt exists
regarding our ability to continue as a going concern.  We believe
that, once we complete the Lummus Technology sale and successfully
implement the Plan of Reorganization, among other factors, the
currently existing substantial doubt regarding our ability to
continue as a going concern would be alleviated."

A copy of the Form 10-Q is available at:

                       https://is.gd/lsqRiu

McDermott International, Inc., a corporation incorporated under the
laws of the Republic of Panama in 1959, is a fully integrated
provider of engineering, procurement, construction and installation
("EPCI") and technology solutions to the energy industry. The
company designs and build end-to-end infrastructure and technology
solutions to transport and transform oil and gas into a variety of
products. The company is based in Houston, Texas.



MFA FINANCIAL: Egan-Jones Lowers Senior Unsecured Ratings to BB-
----------------------------------------------------------------
Egan-Jones Ratings Company, on June 22, 2020, downgraded the
foreign currency and local currency senior unsecured ratings on
debt issued by MFA Financial Inc to BB- from BB. EJR also
downgraded the rating on commercial paper issued by the Company to
B from A3.

Headquartered in New York, New York, MFA Financial, Inc. operates
as a real estate investment trust primarily engaged in the business
of investing, on a leveraged basis, in residential mortgage assets,
including residential mortgage-backed securities and residential
whole loans.



MKJC AUTO GROUP: Hires Paul J. Solda as Special Counsel
-------------------------------------------------------
MKJC Auto Group, LLC, seeks authority from the United States
Bankruptcy Court for the Eastern District of New York  to employ
the Law Offices of Paul J. Solda, Esq. as its special corporate and
real estate counsel.

Mr. Solda will advise the Debtor with respect to real estate and
corporate legal issues that are likely to arise aduring this case,
as well as to draft and/or review necessary transnational
documents.

Mr. Solda's billing rate is $425 per hour.

Mr. Solda disclosed in a court filing that he and his firm do not
represent any interest adverse to the Debtors or their estates.

The counsel can be reached at:

     Paul J. Solda, Esq.
     Law Offices of Paul J. Solda, Esq.
     Empire State Building
     350 5th Ave # 4400
     New York, NY 10118
     Phone: +1 212-967-3393

                    About MKJC Auto Group, LLC

MKJC Auto Group, LLC is a new and pre-owned vehicle dealer in Long
Island City, New York.

MKJC Auto Group, LLC, filed its voluntary petition for relief under
Chapter 11 of the  Bankruptcy Code (Bankr. E.D.N.Y. Case No.
20-42283) on June 8, 2020. The petition was signed by Ryan
Kaminsky, Executor of The Estate of Mitchell Kaminsky. At the time
of filing, the Debtor estimated $10,319,999 in assets and
$10,034,320 in liabilities. Joel M. Shafferman, Esq. at SHAFFERMAN
& FELDMAN LLP represents the Debtor as counsel.


NANO MAGIC: Posts $378K Net Loss in First Quarter
-------------------------------------------------
Nano Magic Inc. reported a net loss of $377,815 on $448,174 of
total revenues for the three months ended March 31, 2020, compared
to a net loss of $70,239 on $757,861 of total revenues for the
three months ended March 31, 2019.

As of March 31, 2020, the Company had $1.70 million in total
assets, $1.65 million in total liabilities, and $51,804 in total
stockholders' equity.

The Company had working capital deficit of $162,523 and $574,059 of
unrestricted cash as of March 31, 2020 and working capital deficit
of $673,040 and $216,801 of unrestricted cash as of
Dec. 31, 2019.

Net cash used in operating activities was $(467,889) for the three
months ended March 31, 2020 as compared to net cash provided by
operating activities of $4,651 for the three months ended March 31,
2019, a net change of $(472,540) or -102%.  Net cash used by
operating activities for the three months ended March 31, 2020
primarily reflected a net loss of $(377,815) adjusted for add-backs
of $44,200 and changes in operating assets of $(134,274).

Net cash flow used in investing activities was $(1,475) for the
three months ended March 31, 2020 and $(2,482) for the three months
ended March 31, 2019.

Net cash provided by financing activities was $826,622 for the
three months ended March 31, 2020 reflecting $840,000 in proceeds
from sales of common stock and warrants, as compared to $239,944
for the same period in 2019.  The 2019 period reflected the payoff
of the revolving credit facility totaling $348,369.

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

                      https://is.gd/U0hZqz

                      About Nano Magic Inc.

Nano Magic Inc. (OTCMKT: NMGX) -- http://www.nanomagic.com/--
develops, commercializes and markets consumer and industrial
products powered by nanotechnology that solve everyday problems for
customers in the optical, transportation, military, sports and
safety industries.  Its primary business is the formulation,
marketing and sale of products powered by nanotechnology including
the ULTRA CLARITY brand eyeglass cleaner, its defogging products
and nanocoating products for glass and ceramics.

Nano Magic recorded a net loss of $964,987 for the year ended Dec.
31, 2019, compared to net income of $22,072 for the year ended Dec.
31, 2018.  As of Dec. 31, 2019, the Company had $1.32 million in
total assets, $1.76 million in total liabilities, and a total
stockholders' deficit of $446,856.

Tama, Budaj & Raab, P.C., in Farmington Hills, Michigan, the
Company's auditor from December 2018 through January 2020, issued
a "going concern" qualification in its report dated Nov. 13, 2020,
citing that the Company has suffered recurring losses, has a
stockholders' deficit and has a working capital deficit.  These
factors raise substantial doubt about the Company's ability to
continue as a going concern.


NATIONAL MARINA: Seeks to Hire Gallini Firm as Legal Counsel
------------------------------------------------------------
National Marina Recovery, LLC seeks authority from the U.S.
Bankruptcy Court for the Western District of Texas to employ The
Gallini Firm, PLLC as its legal counsel.

The firm will provide the following services:

     a. advise Debtor of its powers and duties in the continued
operation of its business and management of its property;

     b. advise Debtor of its responsibilities under the Bankruptcy
Code;

     c. prepare and file legal papers;

     d. represent Debtor in adversary proceedings and other
contested and uncontested matters in the bankruptcy court and in
other courts of competent jurisdiction;

     e. represent Debtor in the negotiation and documentation of
any sale or refinancing of property of the estate, and in obtaining
court approval for the sale or refinancing; and

     f. assist Debtor in the formulation of a plan of
reorganization and in taking the necessary steps to obtain
confirmation of the plan.

The firm will be paid at hourly rates as follows:

     S. Jason Gallini     $275
     Legal Assistant      $125

S. Jason Gallini, Esq., at Gallini Firm, disclosed in court filings
that he does not represent any interest adverse to Debtor and its
estate.

Gallini Firm can be reached through:

     S. Jason Gallini, Esq.
     The Gallini Firm, PLLC
     P.O. Box 1283
     Round Rock, TX 78680-1283
     Tel: (512) 238-8883
     Email: jasongallini@gallinifirm.com

                 About National Marina Recovery

National Marina Recovery, LLC is a shell company as defined in the
Securities Exchange Act of 1934 Rule 12b-2.

Based in Clifton, Texas, National Marina Recovery filed its
voluntary petition for relief under Chapter 11 of the Banrkruptcy
Code (Bankr. W.D. Tex. Case No. 20-60320) on May 4, 2020.  At the
time of the filing, Debtor disclosed assets of between $1 million
and $10 million  and liabilities of the same range.  

Judge Ronald B. King oversees the case.  Debtor has tapped The
Gallini Firm, PLLC as its legal counsel.


NATIONAL MEDICAL: Hires Dilworth Paxson as Legal Counsel
--------------------------------------------------------
National Medical Imaging, LLC and National Medical Imaging Holding
Company, LLC, seek authority from the US Bankruptcy Court for the
Eastern District of Pennsylvania to employ hire Dilworth Paxson LLP
as its legal counsel.

The Debtors require Dilworth Paxson to:

     a. provide the Debtors with legal advice with respect to their
powers and duties as debtors-in-possession;

     b. prepare the necessary applications, pleadings, briefs,
memoranda, and other such documents and reports as may be
required;

     c. represent the Debtors at all hearings and adversary
proceedings (except to the extent such matters are to be handled by
special counsel);

     d. represent the Debtors in their dealings with the estates'
creditors and other parties-in-interest; and

     e. perform all other legal services for the Debtors.

The firm will be paid at these hourly rates:

     Lawrence G. McMichael     $975
     Jennifer L. Maleski       $575

     Partners        $425 to $975
     Associates      $300 to $375
     Paralegals      $225 to $235

Lawrence G. McMichael, a partner at Dilworth Paxson, assured the
Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and does not
represent any interest adverse to the Debtor and its estates.

The firm can be reached through:

     Lawrence G. McMichael, Esq.
     Dilworth Paxson LLP
     1500 Market Street, Suite 3500E
     Philadelphia, PA 19102
     Tel: 215-575-7000
     Email: lmcmichael@dilworthlaw.com

                 About National Medical

National Medical Imaging Holding Company, L.L.C., was a diagnostic
imaging company.

DVI Receivables Trusts and other alleged creditors filed
involuntary chapter 11 petitions (Bankr. E.D. Pa. Case Nos.
05-12714 and 05-12719) against Philadelphia, Pa.-based National
Medical Imaging, L.L.C., and National Medical Imaging Holding
Company, L.L.C., on March 3, 2005.  The Creditors amended the
involuntary petitions three times: on Nov. 10, 2008; April 10,
2009; and on Aug. 26, 2009, following a contested hearing.

In 2014, National Medical Imaging hit U.S. Bank NA with a $50
million lawsuit in Pennsylvania federal court alleging the bank
ruined its business by forcing it into involuntary bankruptcy
proceedings just as it was beginning to implement a turnaround
plan.  The company claims that the involuntary bankruptcy petitions
U.S. Bank and eight other defendants filed against NMI and its
holding company ultimately destroyed its business, even though the
cases were ultimately tossed.


NEIMAN MARCUS: Rosenberg, Haynes Represent Paramount, Solow
-----------------------------------------------------------
In the Chapter 11 cases of Neiman Marcus Group Ltd LLC, et al., the
law firms of Rosenberg & Estis, P.C. and Haynes and Boone, LLP
submitted a verified statement under Rule 2019 of the Federal Rules
of Bankruptcy Procedure, to disclose that they are representing the
following creditors:

   a. WVF-Paramount 745 Property, L.P. is the landlord of the
      premises located at 745 Fifth Avenue, New York, New York
      10151 under that certain lease dated August 29, 1988, as
      amended from time to time.

   b. Solow Building Company, LLC is the landlord of 3rd, 4th,
      5th, 6th, 7th and 8th Floors at 4 West 58th Street, New
      York, NY 10019 under that certain lease dated October 16,
      2015.

R&E does not presently own, nor has it previously owned, any claims
against, or interests in, the Debtors. H&B does not presently own,
nor has it previously owned within the last five years, any claims
against, or interests in, the Debtors.

Nothing contained in this Statement is intended or should be
construed to constitute (a) a waiver or release of any claims filed
or to be filed against the Debtors by Paramount or Solow; nor (b)
an admission with respect to any fact or legal theory. Nothing
herein should be construed as a limitation upon, or waiver of, any
rights of the above-named creditors to assert, file and/or amend
any proof of claim in accordance with applicable law and any orders
entered in these cases.

Counsel for Wvf-Paramount 745 Property, L.P. and Solow Building
Company III LLC can be reached at:

          HAYNES AND BOONE, LLP
          Kelli S. Norfleet, Esq.
          1221 McKinney Street, Suite 4000
          Houston, TX 77010
          Telephone.: (713) 547-2000
          Facsimile: (713) 547-2600
          Email: kelli.norfleet@haynesboone.com

             - and -

          ROSENBERG & ESTIS, P.C.
          Jack Rose, Esq.
          733 Third Avenue
          New York, NY 10017
          Telephone: (212) 551-8403
          Facsimile: (212) 655-3066
          Email: jrose@rosenbergestis.com

A copy of the Rule 2019 filing, downloaded from PacerMonitor.com,
is available at https://is.gd/zuWD8G

                  About Neiman Marcus Group

Neiman Marcus Group LTD, LLC is a luxury omni-channel retailer
conducting store and online operations principally under the
Neiman
Marcus, Bergdorf Goodman, and Last Call brand names.  It also
operates the Horchow e-commerce website offering luxury home
furnishings and accessories. Since opening in 1907 with just one
store in Dallas, Neiman Marcus and its affiliates have
strategically grown to 67 stores across the United States.  For
more information, visit https://www.neimanmarcus.com/

Neiman Marcus Group LTD and its affiliates sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Lead Case No.
20-32519) on May 7, 2020. At the time of the filing, the Debtors
were each estimated to have assets of between $1 billion and $10
billion and liabilities of the same range.

Judge David R. Jones oversees the cases.

Debtors tapped Kirkland & Ellis, LLP and Kirkland & Ellis
International, LLP as bankruptcy counsel; Jackson Walker, LLP as
local counsel; Berkeley Research Group, LLC as restructuring
advisor; Lazard Freres & Co. LLC as investment banker; and Stretto
as claims, noticing and solicitation agent.


NEW ENTERPRISE STONE: S&P Affirms 'B' ICR; Outlook Negative
-----------------------------------------------------------
S&P Global Ratings affirmed its 'B' issuer credit rating on heavy
materials and construction contractor New Enterprise Stone & Lime
Co. Inc. (NESL) and removed it from CreditWatch, where it placed it
with negative implications on April 13, 2020. The outlook is
negative. At the same time, S&P affirmed its 'B+' issue-level
rating on NESL's $450 million senior secured notes due 2026. The
recovery rating on this debt remains '2'.

S&P is also assigning a 'CCC+' issue-level rating to the company's
proposed $200 million senior unsecured notes due 2028. The '6'
recovery rating indicates its expectation of negligible recovery
(0%-10%; rounded estimate: 0%) recovery in the event of a default.

Pennsylvania State has resumed construction following a two-month
suspension and S&P no longer believes a downgrade is likely in the
near term.  Pennsylvania recently resumed heavy/highway
construction activity in the state after a two-month suspension as
one of its measures to combat the spread of the coronavirus. About
75% of NESL's revenues are tied to highway and infrastructure
spending in Pennsylvania and the shutdown occurred during the
company's prime revenue generating period (April to October).
However construction and related industries were deemed essential
services in New York (25% of revenues) and remained in operation
with the exception of private construction. The company also
reduced discretionary expenses and capital spending during the
shutdown to preserve cash flows. The refinancing transaction is
also expected to push out near-term maturities and reduce interest
expense. As a result, although S&P expects credit metrics to
deteriorate in fiscal 2021 (February year-end) the rating agency
expects it to remain appropriate for the rating with adjusted debt
to EBITDA of 6.0x-6.5x and EBITDA interest coverage of about 2.2x
compared to 5.0x and 2.4x respectively in fiscal 2020.

S&P expects state budgets to be pressured by the loss of critical
sources of funding which could negatively affect transportation
budgets in 2021 and 2022.  The negative outlook reflects the
potential for further deterioration beyond what S&P has
incorporated into its forecast as states grapple with reduced
budgets. About 60%-70% of NESL's revenues are derived from PennDOT
(Pennsylvania Department of Transportation) which is anticipating a
nearly $1 billion loss of critical sources of funding from state
gas and diesel tax plus certain licensing and registration fees.
This has reduced contract lettings for 2020 to $1.8 billion from
$2.2 billion in 2019. In addition, the current highway funding FAST
Act which provides funding for critical infrastructure projects is
set to expire in September 2020. Although there are several federal
bills in the pipeline that could provide between $1 trillion to
$1.5 trillion in infrastructure funding with one bill proposal
providing $500 billion on highways and bridges, Congress has yet to
pass a bill. As a result, there is uncertainty around funding for
transportation and infrastructure budgets over the next few
years."

The negative outlook reflects the risk that state transportation
budgets especially in Pennsylvania could be more negatively
affected than S&P anticipates from the loss of critical sources of
tax revenue resulting in EBITDA interest coverage declining below
1.5x.

"We could lower our ratings on NESL over the next 12 months if
EBITDA interest coverage declined below 1.5x. This could occur if
transportation budgets in the state of Pennsylvania are more
negatively affected than we anticipate as a result of lower tax
revenue from state gas and diesel taxes and there is no federal
intervention to mitigate the shortfall," S&P said.

"We could revise the outlook back to stable over the next six to 12
months if we expect EBITDA interest coverage to be sustained above
1.5x and liquidity to be adequate. This could occur if federal or
state measures such as a national infrastructure spending bill or
other actions taken on a state level mitigates any shortfall in
state transportation funding levels," the rating agency said.


NORTH AMERICAN LIFTING: S&P Cuts ICR to 'D' on Missed Payments
--------------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on specialized
crane service provider North American Lifting Holdings Inc. (NALH)
to 'D' from 'SD'.

At the same time, S&P lowered its issue-level rating on the
company's first-lien senior secured term loan and revolving credit
facility to 'D' from 'CC' to reflect the missed interest payment.

The rating on the second-lien senior secured term loan remains
'D'.

The downgrade reflects the company's failure to make the interest
payments due on its revolving credit facility, first-lien term
loan, and second-lien term loan on June 30, 2020. The company has
entered into a new forbearance agreement with its first- and
second-lien lenders until Sept. 30, 2020, as it works to
restructure its outstanding debt.

NALH's debt facilities are composed of a $30 million revolving
credit facility due Aug. 27, 2020, a $470 million first-lien senior
secured term loan due Nov. 27, 2020, and a $185 million second-lien
senior secured term loan due Nov. 29, 2021.

S&P previously lowered its issuer credit rating on NALH to 'SD' in
April, when it missed its interest payment due on its second-lien
term loan and entered into a forbearance agreement with second-lien
lenders.

S&P will reevaluate the rating on NALH upon developments with
regard to future interest payments or a restructuring of the
company's outstanding debt.


NORTH TEXAS MARINA: Seeks to Hire Gallini Firm as Legal Counsel
---------------------------------------------------------------
North Texas Marina Investments, LLC seeks approval from the U.S.
Bankruptcy Court for the Western District of Texas to hire The
Gallini Firm, PLLC as its legal counsel.

The firm will provide the following services:

     a. advise Debtor of its powers and duties in the continued
operation of its business and management of its property;

     b. advise Debtor of its responsibilities under the Bankruptcy
Code;

     c. prepare and file legal papers;

     d. represent Debtor in adversary proceedings and other
contested and uncontested matters in the bankruptcy court and in
other courts of competent jurisdiction;

     e. represent Debtor in the negotiation and documentation of
any sale or refinancing of property of the estate, and in obtaining
court approval for the sale or refinancing; and

     f. assist Debtor in the formulation of a plan of
reorganization and in taking the necessary steps to obtain
confirmation of the plan.

The firm will be paid at hourly rates as follows:

     S. Jason Gallini     $275
     Legal Assistant      $125

S. Jason Gallini, Esq., at Gallini Firm, disclosed in court filings
that he does not represent any interest adverse to Debtor and its
estate.

Gallini Firm can be reached through:

     S. Jason Gallini, Esq.
     The Gallini Firm, PLLC
     PO Box 1283
     Round Rock, TX 78680-1283
     Tel: (512) 238-8883
     Email: jasongallini@gallinifirm.com

               About North Texas Marina Investments

North Texas Marina Investments, LLC, which conducts business under
the name Uncle Gus Marina and Resort, is a family owned facility in
Texas.  It is a full service marina with cabins, RV sites and a
grill, and boat service and rentals.  Visit
https://unclegusmarina.com for more information.

North Texas Marina filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. W.D. Tex. Case No,
20-60321) on May 4, 2020.  At the time of the filing, Debtor
disclosed assets of between $1 million and $10 million and
liabilities of the same range.

Judge Ronald B. King oversees the case.  Debtor has tapped The
Gallini Firm, PLLC as its legal counsel.


NOVATION COMPANIES: Incurs $1.3M Net Loss for March 31 Quarter
--------------------------------------------------------------
Novation Companies, Inc., filed its quarterly report on Form 10-Q,
disclosing a net loss of $1,314,000 on $14,033,000 of service fee
income for the three months ended March 31, 2020, compared to a net
loss of $1,925,000 on $15,854,000 of service fee income for the
same period in 2019.

At March 31, 2020, the Company had total assets of $18,424,000,
total liabilities of $91,763,000, and $73,339,000 in total
shareholders' deficit.

Novation said, "During the three months ended March 31, 2020, the
Company incurred a net loss of $1.3 million and generated negative
operating cash flow of $0.4 million.  As of March 31, 2020, the
Company had an overall shareholders deficit of $73.3 million, an
aggregate of $1.6 million in cash and cash equivalents and total
liabilities of $91.8 million.  Of the $1.6 million in cash, $0.6
million is held by the Company's subsidiary NovaStar Mortgage LLC
("NMLLC").  This cash is available only to pay general creditors
and expenses of NMLLC.

"From January 2019 through August 2019, the Company had a
significant on-going obligation to pay interest under its senior
notes agreement at LIBOR plus 3.5% per annum, payable quarterly in
arrears until maturity on March 30, 2033, leading to a significant
annual cash outflow.  In addition, HCS has experienced lower than
anticipated cash flows due to increased costs and changes in
customers.  These items have led to substantial doubt about the
Company's ability to continue as a going concern.  

"Management continues to work toward expanding HCS's customer base
by increasing revenue from existing customers, looking at methods
to reduce overall operating costs, both at HCS and the corporate
level, and targeting new customers that have not previously been
served by HCS.  As disclosed in Note 5 to the condensed
consolidated financial statements, the Company was successful in
amending the senior note agreements to lower the interest rate and
receive future credit for cash interest payments made in 2019 in
exchange for the issuance of common stock and warrants.  Based on
the terms of the amendment, the Company is not required to make
cash interest payments on the senior notes from August 2019 through
March 2022, leading to significant cash savings for the Company.
This amendment to the Note Purchase Agreement and waiver of
interest payments through April 2022 has significantly improved our
forecasted cash position over the next year.

"In addition, the recent developments of the coronavirus (COVID-19)
has resulted in the layoff of approximately 8% of the Company's
employees based on a reduction in Georgia CSB customer needs.  As
HCS relies on providing healthcare staffing services to generate
income, this has decreased our service fee income, and direct cost
of services, accordingly.  Based on the timing of these layoffs,
the impact to our operations will be reflected in the second
quarter condensed consolidated statement of operations.  While the
Company anticipates the majority of these employees will be rehired
once customer demand returns, there can be no assurance this will
occur.  In addition, there is general concern about a resurgence of
COVID-19 once stay-at-home orders around the country are lifted.  

"Our historical operating results and poor cash flow suggest
substantial doubt exists related to the Company's ability to
continue as a going concern.  There is still significant
uncertainty regarding the future impact that COVID-19 will have on
our business.  Based on these uncertainties, there is no guarantee
the Company's cash position will cover current obligations.  As a
result, we have not been able to alleviate the substantial doubt
about the Company's ability to continue as a going concern for at
least one year after the date that these condensed consolidated
financial statements are issued."

A copy of the Form 10-Q is available at:

                       https://is.gd/Egs7ue

Novation Companies, Inc., through its subsidiary, Healthcare
Staffing, Inc., provides outsourced health care staffing and
related services primarily to Community Service Boards in Georgia.
It also owns a portfolio of mortgage securities.  The company was
formerly known as NovaStar Financial, Inc. and changed its name to
Novation Companies, Inc. in May 2012.  Novation Companies was
founded in 1996 and is based in Kansas City, Missouri.


NPC INT'L: Moody's Cuts PDR to D-PD on Chapter 11 Filing
--------------------------------------------------------
Moody's Investors Service downgraded NPC International, Inc.'s
probability of default rating to D-PD from Ca-PD/LD following the
company's announcement that it has commenced voluntary Chapter 11
proceedings. All other ratings are unchanged and the outlook has
changed to stable from negative.

Downgrades:

Issuer: NPC International, Inc.

  Probability of Default Rating, Downgraded to D-PD from Ca-PD /LD

Outlook Actions:

Issuer: NPC International, Inc.

  Outlook, Changed To Stable From Negative

RATINGS RATIONALE

The bankruptcy filing follows NPC decision to stop paying interest
and principal on its debt due to poor operating results and high
capital spending that resulted in negative free cash flow and an
unsustainable capital structure.

The rapid spread of the coronavirus outbreak, deteriorating global
economic outlook, low oil prices, and high asset price volatility
have created an unprecedented credit shock across a range of
sectors and regions. Moody's regards the coronavirus outbreak as a
social risk under its ESG framework, given the substantial
implications for public health and safety. Its action reflects the
impact on NPC of the deterioration in credit quality it has
triggered, given its exposure to prolonged unit closures, which has
left it vulnerable to shifts in market demand and sentiment in
these unprecedented operating conditions.

NPC is owned by Delaware Holdings, LLC and Eldridge Investment
Holdings. NPC's financial sponsor ownership is a rating factor
given the potential implications from both a capital structure and
operating perspective. Financial policies are always a key concern
of sponsor-owned companies with regards to the potential for higher
leverage, extractions of cash flow via dividends, or more
aggressive growth strategies.

Subsequent to its actions, Moody's will withdraw the ratings due to
NPC's bankruptcy filing.

NPC is the largest Pizza Hut and Wendy's franchisee, operating
1,231 Pizza Hut restaurants and delivery units and 392 Wendy's
restaurants. Annual revenue is approximately $1.6 billion. NPC is
owned by Delaware Holdings, LLC and Eldridge Investment Holdings.

The principal methodology used in this rating was Restaurant
Industry published in January 2018.


NPC INTERNATIONAL: S&P Downgrades ICR to 'D' on Bankruptcy Filing
-----------------------------------------------------------------
S&P Global Ratings lowered its ratings on U.S.-based Pizza Hut and
Wendy's restaurant franchisee NPC International Inc., including its
issuer credit rating, to 'D'.

The downgrade reflects NPC's Chapter 11 bankruptcy filing. S&P
believes the filing was a result of ongoing performance pressures
due to increased labor and commodity costs as well as industry
shifts (particularly impactful at the Pizza Hut operations) and
capital structure issues exacerbated by the coronavirus pandemic.
NPC's first-day motions include goals to deleverage its capital
structure, secure a potential capital infusion, pursue the
potential sale of its Wendy's restaurants, and create a smaller,
more-profitable restaurant base.

S&P expects to discontinue its ratings on the company after 30
days.

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

-- Health and safety


OFFSHORE MARINE: Proposes $5K Sale of Boat to Lefort
----------------------------------------------------
Offshore Marine Contractors, Inc., has proposed a private sale of
its 22' Aluminum Boat, AWLC0260B313, together with its engine,
appurtenances, and spare parts on board, to Mario Lefort for total
consideration of $5,000, on July 1, 2020 at 9:00 a.m. (CT).

The objection deadline is June 29, 2020.  Absent timely opposition,
the Sale Motion may be considered uncontested and entered without a
hearing.   

The counsel for the Debtor will immediately serve the Order on the
required parties who will not receive notice through the ECF System
pursuant to the Bankruptcy and Local Rules and file a Certificate
of Service to that effect within three business days.

               About Offshore Marine Contractors

Offshore Marine Contractors -- http://offshoremarine.net/-- is a
family-owned and operated company that provides offshore,
self-propelled and self-elevating liftboats for the petroleum
exploration and transportation industries.

Offshore Marine Contractors sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. E.D. La. Case No. 19-13253) on Dec. 4,
2019.  In the petition signed by its president, Raimy Eymard, the
Debtor disclosed $32,345,576 in assets and $69,280,946 in debt.
Judge Meredith S. Grabill oversees the case.  

The Debtor tapped Stewart Robbins & Brown, LLC as legal counsel;
Bohman Morse, LLC as special maritime counsel; Baldwin Haspel Burke
& Mayer, LLC as special tax counsel; Pepperman, Emboulas, Schwartz,
& Todaro, LLC as accountant; and Stout Risius Ross, LLC as
financial advisor.


OPGEN INC: Needs Additional Capital to Remain as a Going Concern
----------------------------------------------------------------
OpGen, Inc. filed its quarterly report on Form 10-Q, disclosing a
net loss of $3,949,294 on $616,933 of total revenue for the three
months ended March 31, 2020, compared to a net loss of $3,853,116
on $1,020,177 of total revenue for the same period in 2019.

At March 31, 2020, the Company had total assets of $19,763,524,
total liabilities of $5,680,830, and $14,082,694 in total
stockholders' equity.

The Company said, "To meet its capital needs, the Company is
considering multiple alternatives, including, but not limited to,
strategic financings or other transactions, additional equity
financings, debt financings and other funding transactions,
licensing and/or partnering arrangements and business combination
transactions.  There can be no assurance that the Company will be
able to complete any such transaction on acceptable terms or
otherwise.  The Company believes that current cash will be
sufficient to fund operations into the fourth quarter of 2020.
This has led management to conclude that substantial doubt about
the Company's ability to continue as a going concern exists.  In
the event the Company is unable to successfully raise additional
capital during or before the end of the fourth quarter of 2020, the
Company will not have sufficient cash flows and liquidity to
finance its business operations as currently contemplated.
Accordingly, in such circumstances the Company would be compelled
to immediately reduce general and administrative expenses and delay
research and development projects, including the purchase of
scientific equipment and supplies, until it is able to obtain
sufficient financing.  If such sufficient financing is not received
on a timely basis, the Company would then need to pursue a plan to
license or sell its assets, seek to be acquired by another entity,
cease operations and/or seek bankruptcy protection."

A copy of the Form 10-Q is available at:

                       https://is.gd/ni2NRr

OpGen, Inc., a precision medicine company, engages in developing
molecular information products and services in the United States
and internationally. The company utilizes molecular diagnostics and
informatics to help combat infectious diseases. It also helps
clinicians with information about life threatening infections,
enhance patient outcomes, and decrease the spread of infections
caused by multidrug-resistant microorganisms. The company's
products include Acuitas AMR Gene Panel, a vitro diagnostic test
for the detection and identification of various bacterial nucleic
acids and genetic determinants of antimicrobial resistance in urine
specimens or bacterial colonies isolated from urine and other body
sites; and QuickFISH and PNA FISH products, which are FDA-cleared
and CE-marked diagnostic test designed to detect pathogens in
positive blood cultures. In addition, it offers Acuitas Lighthouse
informatics systems, a cloud-based HIPAA compliant informatics
offerings, which combine clinical lab test results with patient and
hospital information, and provide analytics and insights to enable
manage MDROs in the hospital and patient care environment. OpGen,
Inc. has a strategic collaboration with the New York State
Department of Health to develop a solution to detect, track, and
manage antimicrobial-resistant infections at healthcare
institutions. The company was incorporated in 2001 and is
headquartered in Gaithersburg, Maryland.



PARKWAY VILLA: S&P Lowers 2017A-B Revenue Bonds Rating to 'B-'
--------------------------------------------------------------
S&P Global Ratings lowered its long-term ratings to 'B-' from 'BBB'
and 'BBB-' on Public Finance Authority, Wis.' series 2017A senior
and 2017B subordinate multifamily housing revenue bonds,
respectively. The bonds were issued on behalf of the borrower,
Parkway Villa LLC, an affiliate of Assisted Living Foundation of
America (ALFA), for the Parkway Villa Apartments Project. The
outlook is negative.

The series 2017A and 2017B multifamily housing revenue bonds (the
bonds) were issued in the par amounts of $2,485,000 and $185,000,
respectively for a total issuance of $2,670,000. The bonds were
issued pursuant to and secured by a trust indenture dated April 1,
2017. Proceeds of the bonds were loaned to the borrower to finance
the cost of the acquisition, renovation, furnishing, and equipping
of an existing 48-unit multifamily residential rental housing
development known as Parkway Villa Apartments in Leitchfield,
Kentucky. Proceeds were also used to fund separate debt service
reserve fund (DSRF) accounts for the bonds, sized at six-months
maximum annual debt service, and to pay certain costs of issuance
of the bonds.

The rating action on the bonds reflects implementation of S&P's
"Methodology for Rating U.S. Public Finance Rental Housing Bonds,"
published on April 15, 2020. The ratings are no longer under
criteria observation.

The ratings reflect S&P's view of the following credit
characteristics:

-- Very weak coverage and liquidity assessment due to the 0.68x
and 0.61x S&P-calculated debt service coverage (DSC) ratios for the
2017A and 2017B bonds, respectively, according to the fiscal 2019
audit;

-- Weak/very weak management and governance assessment centered
around S&P's view of the project's ownership entity (ALFA), which
in its view lacks depth and sophistication, does not maintain
strategic plans, policies, or procedures, which exposes the project
to operational risks and mismanagement of the property especially
during challenging and financially stressful times as the project
is currently experiencing; and

-- Weak/very weak market position assessment based on the
property's last two Real Estate Assessment Center (REAC) scores of
56c in 2019 and 61c in 2018, down from 95b, scores and a trend of
which could jeopardize the project's qualification for Section 8
assistance should the project be unable to renew its Housing
Assistance Payment (HAP) contract with the U.S. Dept. of Housing &
Urban Development (HUD).

"Our rating action incorporates our view regarding the health and
safety risks posed by the COVID-19 pandemic, which have affected
all affordable age-restricted housing developments. Specifically,
the risk of increasing expenses and decreases in rental revenue
related to the social risks of the pandemic have been evaluated in
our rating," S&P said.

"The negative outlook reflects our view of the project's
operational and financial performance trend, which is both highly
volatile and negative," the rating agency said.


PARLIAMENT PARTNERS: Voluntary Chapter 11 Case Summary
------------------------------------------------------
Debtor: Parliament Partners, Inc.
           d/b/a Parliament House
        410 N Orange Blossom Trail
        Orlando, FL 32805

Business Description: Parliament Partners, Inc. --
                      http://www.parliamenthouse.com-- owns and
                      operates Parliament House, a resort and
                      entertainment complex in Orlando, Florida.
                      The Debtor previously sought bankruptcy
                      protection on July 25, 2014 (Bankr.
                      M.D. Fla. Case No. 14-08503).

Chapter 11 Petition Date: July 2, 2020

Court: United States Bankruptcy Court
       Middle District of Florida

Case No.: 20-03784

Debtor's Counsel: R. Scott Shuker, Esq.
                  SHUKER & DORRIS, P.A.
                  121 S. Orange Avenue
                  Suite 1120
                  Orlando, FL 32801
                  Tel: (407) 337-2060
                  Email: rshuker@shukerdorris.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Donald Granatstein, president.

The Debtor failed to include in the petition a list of its 20
largest unsecured creditors.

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

                     https://is.gd/ccG5ql


PAYAM NAWAB: $595K Sale of Ocean City Property to Espenshade Okayed
-------------------------------------------------------------------
Judge Lori S. Simpson of the U.S. Bankruptcy Court for the District
of Maryland authorized Payam Nawab's private sale of the real
property located at 36 Canal Side MEWS W #36BQ, Ocean City,
Maryland to Ty Espenshade for $595,000, pursuant to the terms set
forth in the Contract of Sale.

The title company or closing agent for the sale of the Ocean City
Property is authorized to pay all liens securing the Ocean City
Property plus all costs of closing and any escrow fees, title
premiums, closing costs, unpaid property taxes and any other fees
and costs of sale and to remit the balance of the net sales
proceeds to the Sellers, Borzou Biabani and Payam Nawab, in equal
shares

The Order is effective immediately and will not be subject to a
14-day stay as provided in Bankruptcy Rule 6004(h).

Payam Nawab sought Chapter 11 protection (Bankr. D. Md. Case No.
14-23775) on Sept. 4, 2014.  On Jan. 8, 2016, the Court entered an
order confirming Debtor's the Chapter 11 Plan of Reorganization.
On Aug. 14, 2019, the Court appointed Terrence Riley of Vantage
Resort Realty-52 as Real Estate Agent.



PLAYA HOTELS: Says Substantial Going Concern Doubt Exists
---------------------------------------------------------
Playa Hotels & Resorts N.V. filed its quarterly report on Form
10-Q, disclosing a net loss of $22,556,000 on $177,228,000 of total
revenue for the three months ended March 31, 2020, compared to a
net income of $42,988,000 on $195,796,000 of total revenue for the
same period in 2019.

At March 31, 2020, the Company had total assets of $2,204,202,000,
total liabilities of $1,431,521,000, and $772,681,000 in total
stockholders' equity.

The Company said, "As of March 31, 2020, we were in compliance with
our financial maintenance covenants and obligations under our
existing debt agreements.  Even with the measures taken to improve
our liquidity position, it is unlikely we will be in compliance
with our financial maintenance covenants for periods after June 30,
2020 due to the effects of COVID-19.  Our lenders have the right to
declare us in default and accelerate the principal on our debt upon
any covenant violation.  We are currently in negotiations with our
lenders to amend our existing debt agreements and waive our
covenants for at least four full fiscal quarters.  As the amendment
may not be granted and is at the sole discretion of our lenders,
there is substantial doubt about our ability to continue as a going
concern as of the reporting date of these condensed consolidated
financial statements.  Although we provide no assurance that an
amendment will be executed, we anticipate that we will agree to
amended terms with our lenders prior to any covenant violations."

A copy of the Form 10-Q is available at:

                       https://is.gd/xdJ9fh

Playa Hotels & Resorts N.V. owns, operates, and develops
all-inclusive resorts in prime beachfront locations in various
vacation destinations in Mexico and the Caribbean. The company
operates under eight brand names. Playa Hotels & Resorts N.V. is
headquartered in Fairfax, Virginia.



POWERTEAM SERVICES: S&P Affirms 'B-' Senior Secured Notes Rating
----------------------------------------------------------------
S&P Global Ratings is affirming its 'B-' issue-level rating on
PowerTeam Services LLC's senior secured notes due 2028, which the
company is proposing to upsize. S&P is also revising the recovery
rating on the debt to '4' from '3.' The '4' recovery rating
indicates its expectation of average (30%-50%; rounded estimate:
45%) recovery of principal in the event of a payment default. The
company intends to use the net proceeds from the notes for
corporate purposes, which may include paying off current balances
on its revolving credit facility and securitization facility this
year. S&P expects that the transaction will have a neutral impact
to its leverage expectations in 2020.

At the same time, S&P is affirming its 'B-' issue-level ratings on
the company's term loan and revolver. S&P is also revising its
recovery ratings to '4' from '3', indicating its expectation of
average (30%-50%; rounded estimate: 45%) recovery. In addition, S&P
is affirming the 'CCC' issue-level rating on its senior secured
second-lien term loan. The '6' recovery rating is unchanged,
indicating S&P's expectation that lenders would receive negligible
(0%-10%; rounded estimate: 0%) recovery of their principal in the
event of a payment default.

S&P's ratings on PowerTeam reflect the company's position in the
highly fragmented and competitive utility services industry. The
stable outlook reflects the recently acquired natural gas
distribution and transmission pipeline contractors Miller Pipeline
and Minnesota Ltd. (collectively known as MVerge) and S&P's
expectation that demand for the company's maintenance, repair, and
upgrade work will remain stable over the next 12 months.

ISSUE RATINGS--RECOVERY ANALYSIS

Key analytical factors

-- S&P's simulated default scenario assumes a payment default
stemming from broader macroeconomic weakness, which leads to a
slowdown in outsourcing and reduced or postponed maintenance
spending by PowerTeam's utilities customers. This could be further
exacerbated if the company cannot attract and/or retain a skilled
labor force, with a loss of significant customers.

-- S&P believes if PowerTeam were to default, a viable business
model would remain because of its market position and customer
relationships. Therefore, S&P believes debtholders would achieve
the greatest recovery value through reorganization rather than
liquidation. S&P values the company using a 5x EBITDA multiple, in
line with engineering and construction peers.

-- S&P assumes LIBOR of 250 basis points at default.

-- S&P also assumes the company's cash flow revolver is 85% drawn
at default.

Simulated default assumptions

-- Simulated year of default: 2022

-- EBITDA at emergence: $175 million

-- EBITDA multiple: 5x

Simplified waterfall

-- Net enterprise value (after 5% administrative costs): $830
million

-- Priority claims: $91 million (consists of $150 million accounts
receivable securitization)

-- Total collateral value available to first-lien debt: $740
million

-- Secured first-lien debt claims: $1.53 billion

-- Recovery expectations: 30%-50% (rounded estimate: 45%)

-- Total collateral value available to second-lien debt: $0
million

-- Secured second-lien debt claims: $142 million

-- Recovery expectations: 0%-10% (rounded estimate: 0%)

Note: All debt amounts include six months of prepetition interest.
Collateral value equals asset pledge from obligors after priority
claims plus equity pledge from non-obligors after non-obligor
debt.

  PTS Buyer Inc.
                          To:        From:
  Power Borrower LLC
   Senior Secured         B-
    Recovery Rating      4(45%)     3(50%)

  Issue-Level Ratings Affirmed; Recovery Rating Unchanged  

  PowerTeam Services LLC

  PTS Buyer Inc.

  Power Borrower LLC
   Senior Secured         CCC
    Recovery Rating  6(0%)


PROGRESS SOFTWARE: Egan-Jones Lowers Sr. Unsecured Ratings to BB+
-----------------------------------------------------------------
Egan-Jones Ratings Company, on June 26, 2020, downgraded the
foreign currency and local currency senior unsecured ratings on
debt issued by Progress Software Corporation to BB+ from BBB+.

Headquartered in Bedford, Massachusetts, Progress Software
Corporation develops, markets, and distributes applications.


PURDUE PHARMA: Akin Gump Updates Committee Members for 2nd time
---------------------------------------------------------------
Pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure,
the law firm of Akin Gump Strauss Hauer & Feld LLP submitted a
second amended verified statement to update its list of Official
Committee members that it is representing in the Chapter 11 cases
of Purdue Pharma L.P., et al.

The Official Committee has agreed to add certain public school
districts to serve on the Official Committee in an ex officio
capacity in addition to the Multi-State Group and the Native
American Tribes.  The Multi-State Group, the Native American Tribes
and the Public School Districts are collectively referred to herein
as the "Ex Officio Members."

On the afternoon of Thursday, September 26, 2019, the United States
Trustee for Region 2 appointed nine creditors to serve on the
Official Committee to act as the fiduciary for all such creditors,
pursuant to section 1102 of title 11 of the United States Code. As
set forth in the Official Committee's Initial Verified Statement,
the Official Committee, as originally constituted, comprised the
following entities and persons: (1) The Blue Cross and Blue Shield
Association; (2) CVS Caremark Part D Services L.L.C. and
CaremarkPCS Health, L.L.C.; (3) Ryan Hampton; (4) Cheryl Juaire;
(5) LTS Lohmann Therapy Systems, Corp.; (6) Pension Benefit
Guaranty Corporation; (7) Walter Lee Salmons; (8) Kara Trainor; and
(9) West Boca Medical Center.

On October 5, 2019, the Official Committee filed the Verified
Statement of the Official Committee of Unsecured Creditors of
Purdue Pharma L.P., et al. Pursuant to Bankruptcy Rule 2019 [ECF
No. 218] in accordance with Bankruptcy Rule 2019.

On October 9, 2019, the Official Committee received a letter from
counsel to a multi-state group comprising approximately 1,222
entities, including 1,172 cities, counties and other governmental
entities, seven Native American tribal nations, six hospitals, two
districts, 34 medical groups, two funds, and one veterans' class
across 36 states, representing the interests of approximately
60,000,000 individuals requesting the opportunity to join the
Official Committee in an ex officio capacity. After careful
consideration, on October 21, 2019, the Official Committee
determined to grant the Multi-State Group's request, and the Multi-
State Group designated Cameron County, Texas to act as an ex
officio member of the Official Committee. On November 1, 2019, the
Official Committee filed the Amended Verified Statement of the
Official Committee of Unsecured Creditors of Purdue Pharma L.P., et
al Pursuant to Bankruptcy Rule 2019 [ECF No. 414] to disclose the
addition of the Multi-State Group.

On October 9, 2019, the Native American Tribes filed a motion
requesting entry of an order directing the U.S. Trustee to appoint
an official committee of Native American affiliated creditors
comprising Native American tribes, tribal members and/or support
organizations, health organizations or clinics that serve Native
American communities.3 Noting that the Native American population
has been impacted disproportionately by the opioid crisis, the
Native American Tribes asserted that tribal interests in these
cases were not represented by the Official Committee or by states
or their political subdivisions, and therefore, a separate official
committee of Native American creditors was necessary to ensure that
their interests would be adequately represented. Id. 2-6. Shortly
after the filing of the Native American Tribes Motion, the Official
Committee’s advisors engaged in discussions with counsel to the
Native American Tribes and the U.S. Trustee to determine whether
the Native American Tribes Motion could be resolved consensually,
including by, among other things, adding the Native American Tribes
as an ex officio member of the Official Committee. After careful
consideration, on November 4, 2019, the Official Committee
determined to invite the Native American Tribes to serve as an ex
officio member of the Official Committee. In connection with this
appointment, the Native American Tribes appointed the Cheyenne and
Arapaho Tribes to serve as an ex officio member of the Official
Committee and agreed to withdraw the Native American Tribes Motion
on November 6, 2019. Counsel for the Official Committee disclosed
the addition of the Native American Tribes on the record of the
November 6, 2019 hearing. See Transcript of Nov. 6, 2019 Hearing at
60:9–18.

On March 30, 2020 and April 13, 2020, the Public School Districts
filed motions to participate in the ongoing mediation on behalf of
the class of Public School Districts.5 On April 21, 2020, the
Public School Districts and multiple parties in interest, including
the Official Committee and the Debtors, agreed to a stipulation
resolving the Mediation Motions, which the Court approved that same
day.6 On June 2, 2020, the Public School Districts filed a motion
to apply Federal Rule of Bankruptcy Procedure 7023 to their proofs
of claim and certify a class under Rule 23(b)(1)(B) of the Federal
Rules of Civil Procedure.7 In the course of discussions between the
Public School Districts and the Official Committee regarding the
Public School District Mediation Motions and the Public School
District Class Motion, the Public School Districts expressed an
interest in serving as ex officio members of the Official
Committee. After careful consideration and consistent with the
Official Committee's fiduciary obligations to all creditors, at the
June 18, 2020 meeting of the Official Committee, the Official
Committee determined to extend a formal invitation to the Public
School Districts to serve as an ex officio member of the Official
Committee. The Public School Districts accepted this invitation on
June 19, 2020. In connection with this appointment, the Public
School Districts appointed Thornton Township High School District
205 to serve as an ex officio member of the Official Committee.

The Official Committee members now include the following broad
cross-section of unsecured creditors:

* The Blue Cross and Blue Shield Association, a national
  association of 36 independent community-based Blue Cross and
  Blue Shield companies. The BCBS Association and its members
  provide healthcare coverage to one-third of all Americans.
  The BCBS Association and its members' unliquidated claims arise
  from payments of excessive amounts for prescription medications
  used by members of the health plans they administer, and for
  other amounts paid for the treatment of illnesses, injuries, and
  addiction sustained by members from consumption of the Debtors'
  drugs, and costs that would not have been incurred but for the
  actions of the Debtors.

* CVS Caremark Part D Services L.L.C. and CaremarkPCS Health
  L.L.C. are trade creditors that are parties to certain rebate
  agreements with Purdue Pharma L.P. Caremark possesses various
  claims against Purdue, including for unpaid rebates owed by
  Purdue to Caremark under the rebate agreements for certain drugs
  manufactured or developed by Purdue and included in Caremark's
  formulary for eligible beneficiaries of prescription drug plans.

* Ryan Hampton was a staffer at the White House in the Clinton
  administration and became addicted to OxyContin and other
  prescription opioids. He eventually became homeless and addicted
  to heroin. After numerous relapses and overdoses, he eventually
  overcame his addiction. He founded the Voices Project to spread
  awareness about addiction and provide support to people
  suffering from addiction, their friends, and families. Hampton
  is also an author on addiction and an expert in addiction
  recovery public policy, stemming from his days as a political
  and community organizer for various non-profit and political
  organizations. Hampton's claims are not liquidated and, when
  filed, will include claims based on personal injury, including
  damages for inducing the unnecessary prescription of opioid
  medication, resulting in severe personal injury, addiction,
  overdoses, lost wages, and emotional injury.

* Cheryl Juaire's son Corey became addicted to prescription
  opioids, including those manufactured by the Debtors, after a
  hernia operation. His dependence worsened over time, and in
  2011, Juaire's son died of an overdose at the age of 23, leaving
  behind a young daughter, for whom Cheryl is guardian ad litem.
  Juaire founded Team Sharing—Massachusetts, a support group for
  family members who have lost loved ones due to addiction, which
  has since become a nationwide support network. Through her work
  with Team Sharing and contact with her state's attorney general,
  Juaire learned of the Debtors' conduct years after her son's
  death. Juaire's unliquidated claims comprise as-yet unfiled
  litigation claims based on the wrongful death of her son and
  loss of filial consortium.

* LTS Lohmann Therapy Systems, Corp., with its affiliate LTS
  Lohmann Therapie-Systeme AG are trade creditors and are engaged
  in the development and manufacture of innovative drug delivery
  systems such as transdermal patches and oral thin films for the
  pharmaceutical industry, which treat chronic pain as well as
  opioid addiction and dependence. For Purdue, LTS manufactures a
  transdermal patch that delivers around-the-clock treatment of
  moderate to severe chronic pain. The Debtors market and sell
  such patches under the Butrans brand and generically. LTS has
  several contracts with Purdue and is paid for the production of
  the patches and royalty fees based upon the Debtors' sales of
  the patches.

* Pension Benefit Guaranty Corporation is a wholly owned United
  States government corporation and agency created by the Employee
  Retirement Income Security Act of 1974. PBGC's unliquidated
  claims arise from statutory ERISA claims for unfunded benefit
  liabilities, unpaid minimum funding contributions, and unpaid
  Title IV insurance premiums owed with respect to each PBGC-
  insured pension plan.

* Walter Lee Salmons's daughter became addicted after being
  prescribed opioids, including those manufactured by the Debtors,
  while recovering from an automobile accident. As a result of her
  opioid dependency during pregnancy, Salmons's two grandchildren,
  which he raises along with his daughter, were born with NAS.
  Salmons, along with his family members, seek to be named as
  class representatives in a lawsuit seeking to establish a
  medical monitoring program for children born addicted to opioids
  and securing compensation for those children. Salmons's
  unliquidated claims comprise a putative class action filed in
  the multi-district litigation currently pending in the Northern
  District of Ohio seeking medical monitoring and personal injury
  damages.

* Kara Trainor's son was exposed to opioids in utero as a result
  of her use of opioids prescribed to her. When Trainor's son was
  born, he exhibited signs of, and was diagnosed with, NAS. As a
  result, he spent the first months of his life in an intensive
  care unit being treated for drug addiction withdrawal, and
  mental and physical issues and ailments, including developmental
  delays, vision problems, and incontinence. Trainor's son faces a
  lifetime of latent medical and emotional conditions, including
  brain damage, muscular-skeletal developmental disorders, speech
  and language disorders, cognitive developmental disorders,
  psychiatric disorders, emotional development disorders,
  behavioral disorders, and increased risk of addiction. Trainor
  filed an action against Purdue alleging numerous causes of
  action: public nuisance; negligence; breach of implied warranty;
  breach of implied warrant for fitness for a particular purpose;
  fraudulent misrepresentation; fraudulent concealment; negligent
  misrepresentation; strict products liability for failure to
  warn; negligence for failure to warn; products liability; and
  punitive damages.

* West Boca Medical Center and its affiliates are part of Tenet
  Healthcare, one of the largest hospital systems in the United
  States. West Boca filed a complaint in the MDL.  The action
  commenced by West Boca asserts multiple causes of action against
  the Debtors, including RICO violations, deceptive and unfair
  trade practices, misleading advertising, breach of implied
  warranty, negligence, nuisance and unjust enrichment, and was
  selected as the bellwether for hospital cases in the MDL.

Ex Officio Members:

* Cameron County, Texas has been nominated by the Multi-State
  Group to serve as its representative and sit as an ex officio
  member of the Official Committee. The Multi-State group
  comprises 1,222 entities, including 1,172 cities, counties and
  other governmental entities, seven Native American tribal
  nations, six hospital, two districts, 34 medical groups, two
  funds, and one veterans' class across 36 states. The members of
  the Multi-State Group represent a cumulative population of
  approximately 60,000,000 individuals impacted by the opioid
  crisis and have brought numerous and varied claims, including
  class actions, against the Debtors and their shareholders.

* The Cheyenne and Arapaho Tribes have been nominated by the
  Native American Tribes to sit as an ex officio member of the
  Official Committee. The Native American Tribes represent
  approximately 75,000 members and a collective land mass slightly
  larger than the State of Delaware. The Native American Tribes
  are sovereign entities that carry out a broad range of
  governmental services, including health care, law enforcement,
  tribal courts, education, social services, and child welfare
  programs. The Native American Tribes assert that they have been
  impacted more gravely by the opioid crisis than any other
  segment of American society, and have a desperate need to abate
  the opioid scourge that has disproportionately scarred Native
  American populations and strained their resources to a breaking
  point.

* Thornton Township High School District 205 in Illinois has been
  selected by the Public School Districts to serve as their
  representative and sit as an ex officio member of the Official
  Committee. The Public School Districts, which include, in
  addition to Thornton Township High School District 205, Miami-
  Dade County Public Schools in Florida; Bullitt County School
  District, Hart County Schools, LaRue County Schools, Martin
  County Schools, and Owsley County School District in Kentucky;
  East Aurora School District 131, Thornton Fractional High School
  District 215, and Joliet Township High School District 204 in
  Illinois; and Gallup-McKinley County School District and Eunice
  Public Schools in New Mexico, seek to represent a class of
  approximately 13,000 school districts nationwide. The Public
  School Districts assert significant claims for damages against
  the Debtors, including the increased cost of special education
  and supplementary services to children with disabilities due to
  prenatal opioid exposure.

As of June 22, 2019, each Official Committee member including the
Ex Officio Members and their disclosable economic interests are:

The Blue Cross and Blue Shield Association
1310 G Street NW
Washington, DC 20005

* Unliquidated unsecured claim of at least between $68.8 billion
  and $78.6 billion.

CVS Caremark Part D Services L.L.C. and
CaremarkPCS Health, L.L.C.
2211 Sanders Road, NBT-9
Northbrook, IL 60062

* Combined unsecured claims of in excess of $60 million plus
  unliquidated amounts, subject to further analysis and
  reconciliation.

Ryan Hampton
c/o Anne Andrews Andrews Thornton
4701 Von Karman, Suite 300
Newport Beach, CA 92660

* Unliquidated unsecured claim on the basis of personal injury,
  including addiction, overdoses, lost wages, and emotional
  injury.

Cheryl Juaire
c/o Anne Andrews Andrews Thornton
4701 Von Karman, Suite 300
Newport Beach, CA 92660

* Unliquidated unsecured claim on the basis of wrongful death.

LTS Lohmann Therapy Systems Corp.
21 Henderson Dr.
West Caldwell, NJ 07006

* Unsecured claims totaling an estimated $3,300,000.

Pension Benefit Guaranty Corporation
1200 K Street NW
Washington, DC 20005-4026

* Unliquidated unsecured claim of at least $139,000,000.

Walter Lee Salmons
c/o Kevin W. Thompson
2030 Kanawha Blvd. E.
Charleston, WV 25311

* Unliquidated unsecured class claim on the basis of medical
  monitoring costs and unliquidated unsecured class claim for
  direct compensation to each NAS victim.

Kara Trainor
c/o Celeste Brustowicz
Cooper Law Firm, LLC
1525 Religious Street
New Orleans, LA 70130

* Unliquidated unsecured claim for medical, physical, and
  addiction monitoring, and unliquidated unsecured claim for
  personal injuries.

West Boca Medical Center
21644 Florida Highway
Boca Raton, FL 33428

* Unliquidated unsecured claim of at least $7 billion.

Ex Officio Members:

Cameron County, Texas
c/o Juan A. Gonzalez
Cameron County Courthouse
Civil Legal Division
East Monroe Street
Brownsville, Texas 78520

* Unliquidated claims.

Cheyenne and Arapaho Tribes
c/o Sander L. Esserman
Stutzman, Bromberg, Esserman & Plifka
2323 Bryan Street, Ste. 2200
Dallas, Texas 75201

* Unliquidated claims.

Thornton Township High School
District 205 in Illinois
c/o Cyrus Mehri Mehri & Skalet, PLLC
1250 Connecticut Ave., NW Ste. 300
Washington, DC 20036

* Unliquidated claims.

Counsel to the Official Committee of Unsecured Creditors of Purdue
Pharma L.P., can be reached at:

         AKIN GUMP STRAUSS HAUER & FELD LLP
         Ira Dizengoff, Esq.
         Arik Preis, Esq.
         Mitchell Hurley, Esq.
         Sara L. Brauner, Esq.
         One Bryant Park
         New York, NY 10036
         Tel: (212) 872-1000
         Fax: (212) 872-1002
         E-mail: idizengoff@akingump.com
                 apreis@akingump.com
                 mhurley@akingump.com
                 sbrauner@akingump.com

A copy of the Rule 2019 filing, downloaded from PacerMonitor.com,
is available at https://is.gd/tklw21

                    About Purdue Pharma

Purdue Pharma L.P. and its subsidiaries --
http://www.purduepharma.com/-- develop and provide prescription
medicines and consumer products that meet the evolving needs of
healthcare professionals, patients, consumers and caregivers.

Purdue's subsidiaries include Adlon Therapeutics L.P., focused on
treatment for Attention-Deficit/Hyperactivity Disorder (ADHD) and
related disorders; Avrio Health L.P., a consumer health products
company that champions an improved quality of life for people in
the United States through the reimagining of innovative product
solutions; Imbrium Therapeutics L.P., established to further
advance the emerging portfolio and develop the pipeline in the
areas of CNS, non-opioid pain medicines, and select oncology
through internal research, strategic collaborations and
partnerships; and Greenfield Bioventures L.P., an investment
vehicle focused on value-inflection in early stages of clinical
development.

Opioid makers in the U.S. are facing pressure from a crackdown on
the addictive drug in the wake of the opioid crisis and as state
attorneys general file lawsuits against manufacturers.  More than
2,000 states, counties, municipalities and Native American
governments have sued Purdue Pharma and other pharmaceutical
companies for their role in the opioid crisis in the U.S., which
has contributed to the more than 700,000 drug overdose deaths in
the U.S. since 1999.

OxyContin, Purdue Pharma's most prominent pain medication, has been
the target of over 2,600 civil actions pending in various state and
federal courts and other fora across the United States and its
territories.

On Sept. 15 and 16, 2019, Purdue Pharma L.P. and 23 affiliated
debtors each filed a voluntary petition for relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No.
19-23649), after reaching terms of a preliminary agreement for
settling the massive opioid litigation facing the Company.

The Company's consolidated balance sheet at Aug. 31, 2019, showed
$1.972 billion in assets and $562 million in liabilities.

U.S. Bankruptcy Judge Robert Drain, in White Plains, New York, has
been assigned to oversee Purdue's Chapter 11 case.

Davis Polk & Wardwell LLP and Dechert LLP are serving as legal
counsel to Purdue. PJT Partners is serving as investment banker,
and AlixPartners is serving as financial advisor.  Prime Clerk LLC
is the claims agent.


QUARTER HOMES: Bonilla Buying Colby House for $215K
---------------------------------------------------
Quarter Homes, LLC, asks the U.S. Bankruptcy Court for the District
of Arizona to authorize its (i) sale of the house located at 43857
W. Colby, Maricopa, Arizona to Javier Bonilla for $215,000,
pursuant to the terms of their Purchase Contract; and (ii)
retention of Maria Todd of A&M Management of Arizona as its Sale
Broker.

After payment of the Release Price, and payment of the commissions
due to the Sale Broker, the escrow, tax, and other closing costs
borne by Quarter Homes, Quarter Homes will realize approximately
$48,000 on the sale.  Those funds will be used initially to operate
the business, but also to pay off investors with an interest in the
Colby House.

Upon Court approval, the Colby Home will be sold free and clear of
liens, claims, and encumbrances, with CoreVests's lien to attach to
the extent of the aforementioned Release Prices, which Release
Price will be paid to CoreVest at the close of escrow.  In
addition, and as noted, Quarter Homes is responsible for certain
other closing costs including the commission of the Buyer's broker
($6,450), escrow, title, and other fees in the approximate amount
of $15,500.

The sale of the Colby Home is a typical transaction in the
pre-petition business operations of the Debtor.  The sale will pay
down the Debtor's obligations to CoreVest (to the benefit of all
non-secured creditors).  In addition, the remaining funds will
assist the Debtor with its cash flow crunch and provide secure
footing for its plan to pay investors in full under its Chapter 11
plan.  The Debtor asks court approval of the sale in accordance
with Section 363 and Bankruptcy Rule 6004.     

Quarter Homes will immediately serve a copy of the Order upon the
U.S. Trustee, the secured creditors, the 20 largest unsecured
creditors, and file a certificate of service thereof.

An emergency telephonic hearing on the Motion was set for June 23,
2020 at 11:00 a.m.  Any objections were due no later than June 22,
2020.

A copy of the Contract is available at https://tinyurl.com/y9f33apv
from PacerMonitor.com free of charge.

                     About Quarter Homes

Quarter Homes, LLC, located at 15446 N Greenway Hayden Loop Ste
1029, Scottsdale, Arizona, owns commercial real estate, undeveloped
land, and residential properties located in Arizona.

Quarter Homes sought Chapter 11 protection (Bankr. D. Ariz. Case
No. 20-07065) on June 11, 2020.  In the petition signed by David
Turcotte, president, the Debtor was estimated to have assets and
liabilities in the range of $1 million to $10 million.  The Debtor
tapped Warren J. Stapleton, Esq., at Osborn Maledon, P.A.



RECRUITER.COM GROUP: Salberg & Company Raises Going Concern Doubt
-----------------------------------------------------------------
Recruiter.com Group, Inc., filed with the U.S. Securities and
Exchange Commission its annual report on Form 10-K, disclosing a
net loss of $11,843,513 on $5,997,987 of revenue for the year ended
Dec. 31, 2019, compared to a net loss of $1,467,887 on $828,920 of
revenue for the year ended in 2018.

The audit report of Salberg & Company, P.A. states that the Company
has a working capital deficit at December 31, 2019, will require
additional financing to continue operations in 2020 and has had
historical net losses and net cash used in operating activities.
These matters raise substantial doubt about the Company’s ability
to continue as a going concern.

The Company's balance sheet at Dec. 31, 2019, showed total assets
of $6,480,615, total liabilities of $5,765,259, and a total
shareholders' equity of $715,356.

A copy of the Form 10-K is available at:

                       https://is.gd/W8Ri6T

Recruiter.com Group, Inc. operates a platform for connecting
recruiters and employers. It pairs enterprises with a network of
recruiters to drive the hiring of top talent faster and smarter.
The company offers recruitment services through its Job Market
technology platform; and resume distribution services, as well as
SHRM certified recruitment training services for recruiters. In
addition, it provides marketing services primarily for B2B
specialized software and services businesses. Recruiter.com Group,
Inc. is based in Houston, Texas.



REISINGER HOLDINGS: Case Summary & 19 Unsecured Creditors
---------------------------------------------------------
Debtor: Reisinger Holdings, Inc.
          a/k/a SPD Textile & Drapery Inc.
        6855 Hillsdale Ct
        Indianapolis, IN 46250-2039

Business Description: Reisinger Holdings, Inc. --
                      https://spdtextile.com/ - is a full service,
                      window treatment company offering a wide
                      range of custom shades, blinds, upholstery,
                      and drapery solutions to meet the needs of
                      residential and commercial clients.

Chapter 11 Petition Date: July 1, 2020

Court: United States Bankruptcy Court
       Southern District of Indiana

Case No.: 20-03806

Judge: Hon. Robyn L. Moberly

Debtor's Counsel: Matthew M. Cree, Esq.
                  LAW OFFICE OF MATTHEW M. CREE, LLC
                  1638 W Smith Valley Rd A
                  Greenwood, IN 46142-1550
                  Tel: (317) 695-1008
                  Email: matt@creelawoffice.com

Total Assets: $822,454

Total Liabilities: $2,179,748

The petition was signed by Michael Scott Reisinger, president.

A copy of the petition containing, among other items, a list of the
Debtor's 19 unsecured creditors is available for free at
PacerMonitor.com at:

                    https://is.gd/s3Py3T


RENNOVA HEALTH: Further Delays Filing of Quarterly Report
---------------------------------------------------------
Rennova Health, Inc. filed with the Securities and Exchange
Commission a Form 12b-25 notifying the delay in the filing of its
Quarterly Report on Form 10-Q for the period ended March 31, 2020.

Rennova Health previously relied on the order promulgated by the
Securities and Exchange Commission on March 25, 2020 in Release No.
34-88465 relating to the Securities Exchange Act of 1934, as
amended, to delay the filing of its Quarterly Report on Form 10-Q
for the quarter ended March 31, 2020.  On May 15, 2020, the Company
filed a Current Report on Form 8-K pursuant to the Order regarding
the exemptive relief due to circumstances related to the outbreak
of the coronavirus.

Rennova said, "The COVID-19 pandemic and the steps taken by
governments to seek to reduce the spread of the virus continue to
have a severe impact on the economy and the health care industry in
particular.  Our hospitals and the rest of our business continue to
experience disruptions due to the pandemic for the reasons
described in our Form 8-K.  The relief provided by the Order
allowed for the Quarterly Report to be filed by June 29, 2020.  The
Company will not be able to file the Quarterly Report within that
period due to the additional time required by the Company and its
auditors to complete their respective procedures in light of the
circumstances related to the COVID-19 pandemic, which could not be
eliminated without unreasonable effort or expense."

                       About Rennova Health

Rennova Health, Inc. -- http://www.rennovahealth.com-- operates
three rural hospitals in Tennessee and provides diagnostics and
supportive software solutions to healthcare providers.

Rennova Health reported a net loss to common shareholders of
$171.89 million for the year ended Dec. 31, 2019, compared to a net
loss to common shareholders of $245.87 million for the year ended
Dec. 31, 2018.  As of Dec. 31, 2019, the Company had $14.71 million
in total assets, $83.58 million in total liabilities, $5.83 million
in redeemable preferred stock - Series I-1, $1.82 million in
redeemable preferred stock - Series I-2, and a total stockholders'
deficit of $76.52 million.

Haynie & Company, in Salt Lake City, Utah, the Company's auditor
since 2018, issued a "going concern" qualification in its report
dated June 25, 2020, citing that the Company has recognized
recurring losses, negative cash flows from operations, and
currently has minimal revenue producing activities.  This raises
substantial doubt about the Company's ability to continue as a
going concern.


RENNOVA HEALTH: Reports $171.9 Million Net Loss for 2019
--------------------------------------------------------
Rennova Health, Inc. reported a net loss to common shareholders of
$171.89 million on $15.98 million of net revenues for the year
ended Dec. 31, 2019, compared to a net loss to common shareholders
of $245.87 million on $14.55 million of net revenues for the year
ended Dec. 31, 2018.

As of Dec. 31, 2019, the Company had $14.71 million in total
assets, $83.58 million in total liabilities, $5.83 million in
redeemable preferred stock - Series I-1, $1.82 million in
redeemable preferred stock - Series I-2, and a total stockholders'
deficit of $76.52 million.

Haynie & Company, in Salt Lake City, Utah, the Company's auditor
since 2018, issued a "going concern" qualification in its report
dated June 25, 2020, citing that the Company has recognized
recurring losses, negative cash flows from operations, and
currently has minimal revenue producing activities.  This raises
substantial doubt about the Company's ability to continue as a
going concern.

Rennova stated, "Although our financial statements have been
prepared on a going concern basis, we have recently accumulated
significant losses and have negative cash flows from operations
that could adversely affect our ability to refinance existing
indebtedness or raise additional capital to fund our operations or
limit our ability to react to changes in the economy or our
industry.  Restrictive covenants in the agreements governing our
indebtedness may adversely affect us.  These or additional risks or
uncertainties not presently known to us, or that we currently deem
immaterial, raise substantial doubt about our ability to continue
as a going concern.

"If we are unable to improve our liquidity position we may not be
able to continue as a going concern.  The accompanying consolidated
financial statements do not include any adjustments that might
result if we are unable to continue as a going concern and,
therefore, be required to realize our assets and discharge our
liabilities other than in the normal course of business, which
could cause investors to suffer the loss of all or a substantial
portion of their investment.

"We have accumulated significant losses and have negative cash
flows from operations, and at December 31, 2019, we had a working
capital deficit and accumulated deficit of $78.1 million and $586.9
million, respectively. ... In addition, our cash position is
critically deficient, critical payments, including payroll taxes
are not being made in the ordinary course of business, and we have
significant indebtedness, the majority of which is past due and for
which we do not have the financial resources to satisfy, all of
which raises substantial doubt about our ability to continue as a
going concern."

A full-text copy of the Form 10-K is available for free at the
Securities and Exchange Commission's website at:

                       https://is.gd/KqarTM

                       About Rennova Health

Rennova Health, Inc. -- http://www.rennovahealth.com/-- operates
three rural hospitals in Tennessee and provides diagnostics and
supportive software solutions to healthcare providers.


RILEY J. BEARD: $328K Sale of Temple Hills Property to Benitez OK'd
-------------------------------------------------------------------
Judge Thomas J. Catliota of the U.S. Bankruptcy Court for the
District of Maryland authorized Riley John Beard and Regina
Lorraine Beard to sell the residential property located at 5504
Keppler Road, Temple Hills, Maryland to Edwin Ferruffino Benitez,
also known as Edwin F. Benitez, for $328,000, free and clear of
liens, claims, encumbrances, interests in accordance with the terms
of the Contract.

The sale is free and clear of all Liens, Claims, Encumbrances and
Interests.

The Debtor's Broker, Homewise Realty Services, LLC, will deliver to
The Burns Law Firm, LLC, a proposed closing disclosure (HUD-1) no
later than two business days prior to any proposed closing, which
will reflect the disbursements identified in the immediately
following paragraph to be made by the settlement agent.

After payment of allowed Broker commission; identified further
reasonable closing costs from the CD referenced below; the liens of
record requiring satisfaction by the settlement agent, the
remaining proceeds of sale by check for surplus the Debtor's
counsel for distribution pursuant to further Court Order.

No other disbursements will be made at closing other than those
identified by the settlement agent before all net funds are
delivered to the Debtor's counsel within 72 hours following the
sale closing.

The settlement agent will no later than 10 days following entry of
the Order identify by written request with a copy of the abstract
delivered to the Debtor's counsel, the Debtor's real estate broker
and the Buyer's real estate broker any liens or encumbrances of
record which require action or payment beyond the two liens
identified by the Motion, and to prevent delays in the process by
the underwriter and settlement agent, a copy of this Order is
provided to such settlement agent as demonstrated.

The stay provided for by Fed. R. Bankr. P. 6004(h) is waived.

The Debtor shall, by the counsel, upload a Report of Sale attaching
the HUD-1 (closing disclosure) within 10 days from the date of the
sale closing.

If the Debtor's counsel does not receive the required proceeds and
settlement sheet or closing disclosure (ie; HUD-1) within 90 days
of the date of entry of the Order, the authority to sell granted by
the Order will automatically terminate.

Riley John Beard and Reginia Lorraine Beard, in Aquasco, Maryland,
filed for Chapter 11 bankruptcy (Bankr. D. Md. Case No. 10-38621)
on Dec. 21, 2010.  John Douglas Burns, Esq., at The Burns Law Firm,
LLC, serves as bankruptcy counsel.  In their petition, the Beards
listed $1 million to $10 million in both assets and debt.


RLJ LODGING: Needs Covenant Waivers to Remain as a Going Concern
----------------------------------------------------------------
RLJ Lodging Trust filed its quarterly report on Form 10-Q,
disclosing a net loss (attributable to common shareholders) of
$35,603,000 on $265,481,000 of total revenues for the three months
ended March 31, 2020, compared to a net income (attributable to
common shareholders) of $20,974,000 on $399,267,000 of total
revenues for the same period in 2019.

At March 31, 2020, the Company had total assets of $6,069,225,000,
total liabilities of $2,997,391,000, and $3,071,834,000 in total
equity.

The Company cannot provide assurances that it will be able to
obtain waivers in a timely manner, or on acceptable terms, or at
all.  If the Company is unable to obtain waivers or repay its debt,
the Company may default on some or all of its outstanding debt,
which could potentially accelerate amounts due under such
agreements, and could raise substantial doubt about the Company's
ability to continue as a going concern.

A copy of the Form 10-Q is available at:

                       https://is.gd/EtcJ0U

RLJ Lodging Trust is based in Bethesda, Maryland.



ROBERT A. RYALS: June 30 Hearing on Clay County Property Sale
-------------------------------------------------------------
Judge James D. Robinson of the U.S. Bankruptcy Court for the
Northern District of Alabama continued the hearing on Robert A.
Ryals' private sale of his 1/2 interest in the property located in
Clay County, Alabama, described in Exhibit A, to Gerald McGill for
$15,000, Parcel Nos. 24-06-13-0-000-011.000 and
24-06-14-0-000-018.000, to June 30, 2020 at 9:28 a.m.

A hearing on the Motion was held on June 18, 2020 at 9:30 a.m.

The Debtor proposes to sell the Property free and clear of any and
all mortgages, liens, interests and/or other encumbrances.

The Property to be sold is subject to the following liens,
mortgages or other interests: is subject to the Judgment Lien of
Jeffrey H. Garrison and Jennifer Garrison.

The telephonic hearing will be held via an AT&T call-in number.
Interested parties can find the call-in number and passcode on the
Court's webpage at www.alnb.uscourts.gov.  (Each Judge in the
District has a specific call-in number.  From the homepage, click
the Judges tab and select the Judge assigned to the case.  If they
cannot locate the dial-in number on the website, they may call the
Clerk's office at 205-714-4000).  Other cases or matters may be
scheduled for telephonic hearing at the same time.  The parties
should call in five minutes prior to the start of the hearing.
Once connected, they must mute their phone until their case is
called.  After their hearing is completed, they may hang up to end
the call.  To avoid disruption, telephonic hearing participants are
expected to call from a quiet location and are not permitted to use
a speaker function or to place the call on hold (as it may cause
music or other noises to play during the hearings of other
participants).  The participants are encourage to call from a
landline if possible.

Robert A. Ryals sought Chapter 11 protection (Bankr. N.D. Ala. Case
No. 19-41509) on Sept. 8, 2019.  The Debtor tapped Harry P. Long,
Esq., at The Law Office of Harry P. Long, LLC as counsel.



ROBERT A. RYALS: Selling Interest in Clay County Property for $15K
------------------------------------------------------------------
Robert A. Ryals has proposed a private sale of his 1/2 interest in
the property located in Clay County, Alabama, to Gerald McGill for
$15,000, Parcel Nos. 24-06-13-0-000-011.000 and
24-06-14-0-000-018.000, to June 28, 2020 at 9:28 a.m.

The Debtor proposes to sell the Property free and clear of any and
all mortgages, liens, interests and/or other encumbrances.

The Property to be sold is subject to the following liens,
mortgages or other interests: is subject to the Judgment Lien of
Jeffrey H. Garrison and Jennifer Garrison.

The telephonic hearing will be held via an AT&T call-in number.
Interested parties can find the call-in number and passcode on the
Court's webpage at www.alnb.uscourts.gov.  (Each Judge in the
District has a specific call-in number.  From the homepage, click
the Judges tab and select the Judge assigned to the case.  If they
cannot locate the dial-in number on the website, they may call the
Clerk's office at 205-714-4000).  Other cases or matters may be
scheduled for telephonic hearing at the same time.  The parties
should call in five minutes prior to the start of the hearing.
Once connected, they must mute their phone until their case is
called.  After their hearing is completed, they may hang up to end
the call.  To avoid disruption, telephonic hearing participants are
expected to call from a quiet location and are not permitted to use
a speaker function or to place the call on hold (as it may cause
music or other noises to play during the hearings of other
participants).  The participants are encourage to call from a
landline if possible.

The Purchaser:

         Gerald McGill
         296 Loblolly Lane
         Alexander City, AL 35010

Robert A. Ryals sought Chapter 11 protection (Bankr. N.D. Ala. Case
No. 19-41509) on Sept. 8, 2019.  The Debtor tapped Harry P. Long,
Esq., at The Law Office of Harry P. Long, LLC as counsel.


ROCHESTER DRUG: July 10 Auction of Assets Set
---------------------------------------------
Judge Paul R. Warren of the U.S. Bankruptcy Court for the Western
District of New York authorized the bidding procedures of Rochester
Drug Co-Operative, Inc. in connection with the sale of (i) the real
property improved by a distribution facility and a parking lot
located at 116-117 Lehigh Drive, #3013, Fairfield, New Jersey; and
(ii) the machinery, equipment, furnishings, and fixtures located at
the Fairfield Facility, to VK Acquisitions V, LLC for $13.5
million, subject to the terms of their Purchase and Sale Agreement
dated as of May 21, 2020, subject to higher and better offers.

The form of the Purchase Agreement is approved.  The Purchaser is
designated as the stalking horse bidder for the Purchased Assets,
the Purchase Agreement is deemed a Qualified Bid for the Purchased
Assets, and the Purchaser is deemed a Qualified Bidder for the
Purchased Assets.

In accordance with the terms of the Purchase Agreement, the
Purchaser, as the stalking-horse bidder, is granted a Break-Up Fee
in the amount equal to 2% of the Purchase Price set forth in the
Purchase Agreement (which is approved), payable in the event the
Debtor consummates an Alternative Transaction for the sale of the
Purchased Assets.  The Break-Up Fee will be allowed as an
administrative expense claim in the Chapter 11 Case pursuant to
section 503(b) of the Bankruptcy Code, and will be payable in cash
to the Purchaser from the proceeds of the sale to a Successful
Bidder (other than the Purchaser) within three business days of the
Debtor's receipt of such proceeds.

In the event of a competing Qualified Bid for the Purchased Assets,
the Purchaser will be permitted, but not obligated, to submit
overbids and will be entitled to credit bid the value of the
Break-Up Fee in any such overbid.

The salient terms of the Bidding Procedures are:

     a. Bid Deadline: July 7, 2020 at 4:00 p.m. (ET)

     b. Initial Bid: A purchase offer exceeding the Purchase Price
by the Break-Up Fee ($270,000), plus $50,000

     c. Deposit: 10% of the bidder's Initial Qualified Overbid

     d. Auction: If more than one Qualified Bid for the Purchased
Assets is timely received by the Debtor in accordance with the
Bidding Procedures, the Auction will take place telephonically on
July 10, 2020 at 10:00 a.m. (ET), or on such other date and time as
the Debtor will notify all Qualified Bidders and other invitees.

     e. Bid Increments: $50,000

     f. Sale Hearing: July 17, 2020 at 11:00 a.m. (ET)

     g. Sale Objection Deadline: July 14, 2020 at 4:00 p.m. (ET)

The Notice of Auction and Sale Hearing is approved.  Three business
days after entry of the Bidding Procedures Order, the Debtor will
cause (a) a copy of the Notice of Auction and Sale Hearing, and (b)
a copy of the Bidding Procedures Order, with Exhibits, to be sent
by first-class mail postage prepaid, to the parties-in-interest.

Three business days after entry of this Bidding Procedures Order,
the Debtor will cause (a) a copy of the Notice of Auction and Sale
Hearing, and (b) a copy of the Bidding Procedures Order, without
Exhibits, to be sent by first-class mail postage prepaid, to all
creditors in the Chapter 11 Case.

If the Debtor does not receive any Qualified Bids (other than the
Stalking Horse Bid): (a) the Debtor may cancel the Auction; (b) the
Purchaser will be deemed the Successful Bidder for the Purchased
Assets; and (c) the Debtor will be authorized to seek approval of
the Purchase Agreement and the sale to Purchaser at the Sale
Hearing.

Subject to the terms of any final order authorizing the Debtor to
use cash collateral in this Chapter 11 Case, the Debtor is
authorized to take such steps and incur and pay such expenditures
as may be necessary or appropriate to effectuate the terms of the
Bidding Procedures Order.

The stay provided for in Bankruptcy Rule 6004(h) is waived and the
Bidding Procedures Order will be effective immediately upon its
entry.

A copy of the Bidding Procedures and the Agreement is available at
https://tinyurl.com/y7cz4ye8 from PacerMonitor.com free of charge.

               About Rochester Drug Co-Operative

Rochester Drug Cooperative, Inc., is an independently owned New
York cooperative corporation formed in 1905 and incorporated in
1948 with a principal office and place of business located at 50
Jet View Drive, Rochester, New York 14624.  Its principal business
is to warehouse, merchandise, and then distribute, on a cooperative
basis, drugs, pharmaceutical supplies, medical equipment and other
merchandise commonly sold in drug stores, pharmacies, health and
beauty stores, and durable medical equipment business.  It is a
wholesale regional drug cooperative that operates as both a buying
cooperative and a traditional drug distribution company created for
the purpose of helping independent pharmacies compete in the
current healthcare environment.

Rochester Drug Cooperative sought Chapter 11 protection (Bankr.
W.D.N.Y. Case No. 20-20230) on March 12, 2020.

The Debtor was estimated to have $50 million to $100 million in
assets and $100 million to $500 million in liabilities.

The Hon. Paul R. Warren is the case judge.

The Debtor tapped Bond, Schoeneck & King, PLLC, led by Stephen A.
Donato, as counsel and Epiq Corporate Restructuring, LLC as the
claims and noticing agent.


RUBIE'S COSTUME: Creditors' Committee Members Disclose Claims
-------------------------------------------------------------
Pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure,
the law firm of Arent Fox LLP submitted a verified statement that
it is representing the Official Committee of Unsecured Creditors in
the Chapter 11 cases of Rubie's Costume Company, Inc., et al.

On May 18, 2020, pursuant to Section 1102 of Title 11 of the United
States Code, the United States Trustee for Region appointed the
Committee. The Committee is comprised of three members: (a) FedEx
Corporate Services, Inc., (b) Amscan Inc., and (c) Unique
Industries, Inc..

As of June 26, 2020, the Committee members and their disclosable
economic interests are:

FedEx Corporate Services, Inc.
3680 Hacks Cross Road, Building H
Memphis, TN 38125
Attn: Michael Siedband

* Unsecured claim arising out of goods sold and/or services
  provided in the amount of $1,031,939.14.

Amscan Inc.
80 Grasslands Road
Elmsford, NY 10253
Attn: Carol Gips and Ian Geller

* Unsecured claim arising out of goods sold and/or services
  provided in the amount of $815,479.23.

Unique Industries, Inc.
4750 League Island Boulevard
Philadelphia, PA 19112
Attn: Anthony Juliano
      Glenn Wattenmaker, and
      Bill Barry

* Unsecured claim arising out of goods sold and/or services
  provided in the amount of $261,350.67.

Proposed Counsel for the Official Committee of Unsecured Creditors
can be reached at:

          ARENT FOX LLP
          George P. Angelich, Esq.
          Jordana L. Renert, Esq.
          David J. Mayo, Esq.
          1301 Avenue of the Americas, Floor 42
          New York, NY 10019
          Telephone: (212) 484-3900
          Facsimile: (212) 484-3990

A copy of the Rule 2019 filing, downloaded from PacerMonitor.com,
is available at https://is.gd/QuAmqF and https://is.gd/vM5VPW

                    About Rubie's Costume

Rubie's Costume Company Inc. is a distributor, manufacturer and
designer of costume and party-related accessories that serve over
2,000 retail accounts. It also maintains licensing partnerships
with top studios like Nickelodeon, Warner Bros, Lucasfilm, Marvel,
and Disney for products inspired by WWE, Ghostbusters, Stranger
Things, DC Comics, JoJo Siwa, Harry Potter, and Star Wars.

Rubie's Costume Company and its affiliates sought Chapter 11
protection (Bankr. E.D.N.Y. Lead Case No. 20-71970) on April 30,
2020.  Rubie's Costume was estimated to have $100 million to $500
million in assets and $50 million to $100 million in liabilities as
of the filing.

Judge Alan S. Trust oversees the cases.

Debtors have tapped Meyer, Suozzi, English & Klein, P.C. and Togut,
Segal & Segal LLP as bankruptcy counsel; BDO USA, LLP as
restructuring advisor; and SSG Capital Advisors LLC as investment
banker.  Kurtzman Carson Consultants is the claims agent.

The Office of the U.S. Trustee appointed a committee of unsecured
creditors on May 18, 2020.  The committee is represented by Arent
Fox, LLP.


S&S CRAFTSMEN: Seeks to Hire Freeman Goldis as Special Counsel
--------------------------------------------------------------
S&S Craftsmen, Inc. seeks approval from the U.S. Bankruptcy Court
for the Middle District of Florida to hire Freeman, Goldis & Cash,
PA and Stuart J. Freemen, Esq. as its special counsel.

Freeman Goldis will assist and advise the Debtor with respect to
all matters associated with the State Court case pending in the
10th Judicial Circuit in and for Polk County, Florida titled, R.
Mark Bostick vs. Weather Shield Mfg., Inc.; The Hartline Alarm Co.,
Inc., and Olson Construction, Inc. and Olson Construction, Inc. vs.
Weather Shield Mfg., Inc., The Hartline Alarm Co., Inc. and S&S
Craftsmen, Inc., A&D Remodeling, LLC, Leroy B. Osborn and Andrew
Osborn and S&S Craftsmen, Inc. vs. Weather Shield Mfg., Inc., Case
No. 2017-CA-000388.

Mr. Freeman, shareholder and litigation attorney at Freeman,
assured the Court that the firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code and does
not represent any interest adverse to the Debtors and their
estates.

The counsel can be reached through:

      Stuart J. Freemen, Esq.
      Freeman, Goldis & Cash, PA
      2553 1st Ave N
      St. Petersburg, FL 33713
      Phone: +1 727-327-2258

              About S&S Craftsmen, Inc.

S&S Craftsmen, Inc., owns and operates a millwork shop in Tampa,
Florida, sought Chapter 11 protection (Bankr. M.D. Fla. Case No.
20-02321) on March 17, 2020. The petition was signed by John L.
Rosende, its director. At the time of the filing, the Debtor
disclosed estimated assets of $100,000 to $500,000 and estimated
liabilities of $1 million to $10 million.

The Debtor tapped Johnson Pope Bokor Ruppel & Burns LLP as its
counsel.


SCIENTIFIC GAMES: Successfully Completes Notes Offering
-------------------------------------------------------
Scientific Games Corporation's wholly owned subsidiary, Scientific
Games International, Inc., successfully completed a private
offering of $550.0 million in aggregate principal amount of new
8.625% senior unsecured notes due 2025 at an issue price of
100.000%.

The net proceeds of the Notes offering will be used to redeem all
$340.6 million of SGI's outstanding 6.625% senior subordinated
notes due 2021, to pay accrued and unpaid interest thereon plus any
related premiums, fees and expenses, to pay related fees and
expenses of the Notes offering and to fund working capital and for
other general corporate purposes.

The Notes are guaranteed on a senior basis by Scientific Games and
certain of its subsidiaries, and the Notes are not secured.

The Notes have not been registered under the Securities Act of
1933, as amended, or any state securities laws and, unless so
registered, may not be offered or sold in the United States except
pursuant to an applicable exemption from the registration
requirements of the Securities Act and applicable state securities
laws.  The Notes are offered only to persons reasonably believed to
be qualified institutional buyers in accordance with Rule 144A and
to non-U.S. Persons under Regulation S under the Securities Act.

                      About Scientific Games

Based in Las Vegas, Nevada, Scientific Games Corporation
(NASDAQ:SGMS) -- http://www.scientificgames.com/-- is a developer
of technology-based products and services and associated content
for the worldwide gaming, lottery, social and digital gaming
industries.  Its portfolio of revenue-generating activities
primarily includes supplying gaming machines and game content,
casino-management systems and table game products and services to
licensed gaming entities; providing instant and draw-based lottery
products, lottery systems and lottery content and services to
lottery operators; providing social casino solutions to retail
consumers and regulated gaming entities, as applicable; and
providing a comprehensive suite of digital RMG and sports wagering
solutions, distribution platforms, content, products and services.


Scientific Games reported a net loss of $118 million for the year
ended Dec. 31, 2019, compared to a net loss of $352 million for the
year ended Dec. 31, 2018.  As of March 31, 2020, the Company had
$7.46 billion in total assets, $9.82 billion in total liabilities,
and a total stockholders' deficit of $2.35 billion.


SHIFTPIXY INC: Reports $9.4M Net Income for Quarter Ended Feb. 29
-----------------------------------------------------------------
ShiftPixy, Inc., filed its quarterly report on Form 10-Q,
disclosing a net income of $9,445,000 on $2,583,000 of revenues for
the three months ended Feb. 29, 2020, compared to a net loss of
$2,140,000 on $1,186,000 of revenues for the three months ended
Feb. 28, 2019.

At Feb. 29, 2020, the Company had total assets of $18,972,000,
total liabilities of $19,413,000, and $441,000 in total
stockholders' deficit.

Principal Executive Officer Scott W. Absher said, "As of February
29, 2020, the Company had cash of $0.4 million and a working
capital deficiency of $5.6 million.  During the six months ended
February 29, 2020, the Company used approximately $10.4 million of
cash in its operations and repaid $1.2 million of convertible
notes, after receiving $10.7 million of cash from the Asset Sale.
The Company has incurred recurring losses resulting in an
accumulated deficit of $38.1 million as of February 29, 2020.
These conditions raise substantial doubt as to its ability to
continue as going concern within one year from issuance date of the
financial statements."

A copy of the Form 10-Q is available at:

                       https://is.gd/xVLhIw

ShiftPixy, Inc. provides employment services for businesses; and
workers in shift or other part-time/temporary positions in the
United States. The company also operates as a payroll processor,
human resources consultant, and administrator of workers'
compensation coverages and claims. It primarily serves restaurant,
hospitality, and maintenance service industries. The company was
founded in 2015 and is headquartered in Irvine, California.


SKILLSOFT CORPORATON: Milbank, Ashby Represent Crossholder Group
----------------------------------------------------------------
In the Chapter 11 cases of Skillsoft Corproation, et al., the law
firms of Milbank LLP and Ashby & Geddes, P.A. submitted a verified
statement under Rule 2019 of the Federal Rules of Bankruptcy
Procedure, to disclose that they are representing the Ad Hoc
Crossholder Group.

The ad hoc committee of certain crossholder lenders holding:

   (i) revolving loans issued under that certain First Lien Credit
Agreement, dated as of April 28, 2014 by and among Evergreen Skills
Intermediate Lux S.à r.l., Evergreen Skills Lux S.à r.l.,
Skillsoft Canada Ltd, and Skillsoft Corporation  as borrowers, the
lenders party thereto, and Wilmington Savings Fund Society, FSB, as
administrative agent and collateral agent,

   (ii) term loans issued under the First Lien Credit Agreement,
and

   (iii) loans issued under that certain Second Lien Credit
Agreement, dated as of April 28, 2014 by and among Evergreen Skills
Intermediate Lux S.à r.l., Evergreen Skills Lux S.à r.l., and
Skillsoft Corporation as borrowers, the lenders party thereto, and
the Agent. Following the commencement of the Debtors’ chapter 11
cases, certain members of the Ad Hoc Crossholder Group are also
lenders under that certain Senior Secured Super-Priority
Debtor-In-Possession Credit Agreement, dated as of June 17, 2020 by
and among Pointwell Limited and Skillsoft Corporation as borrowers,
and Wilmington Savings Fund Society, FSB, as administrative agent,
collateral agent, and escrow agent.

In January 2019, the Ad Hoc Crossholder Group retained Milbank as
counsel with respect to the Prepetition Loans. In May 2020, the Ad
Hoc Crossholder Group retained Ashby, as its Delaware counsel.

Counsel represents the Ad Hoc Crossholder Group and does not
represent or purport to represent any entities other than the Ad
Hoc Crossholder Group in connection with the Debtors' chapter 11
cases. In addition, neither the Ad Hoc Crossholder Group nor any
member of the Ad Hoc Crossholder Group represents or purports to
represent any other entities in connection with the Debtors'
chapter 11 cases.

As of June 20, 2020, members of the Ad Hoc Crossholder Group and
their disclosable economic interests are:

EQT Credit Partners Limited
30 Broadwick St.
London W1F 8JB
United Kingdom
Tel: (+44) 20 7430 5510

* DIP Obligations: $10,891,055.28
* First Lien Revolving Loans: $26,666,666.67
* First Lien Term Loans: $179,670,356.25
* Second Lien Term Loans: $143,071,568.66

Lodbrok Capital LLP
55 St James's St.
London SW1A 1LA
United Kingdom
Tel: +(44) 20 7509 6430

* DIP Obligations: $14,893,279.69
* First Lien Revolving Loans: $26,666,666.67
* First Lien Term Loans: $271,153,147.00
* Second Lien Term Loans: $262,418,992.00

North Haven Credit Partners II L.P.
1585 Broadway Ave.
New York, NY 10036
Tel: (212) 761 4000

* First Lien Term Loans: $18,900,000.00
* Second Lien Term Loans: $45,675,617.81

Signature Global Asset Management
2 Queen Street East 20th Floor
Toronto, ON M5C 3G7
Tel: (416) 364 1145

* First Lien Term Loans: $24,515,644.00
* Second Lien Term Loans: $78,600,865.00

Counsel to the Ad Hoc Crossholder Group can be reached at:

          ASHBY & GEDDES, P.A.
          William P. Bowden, Esq.
          Michael D. DeBaecke, Esq.
          500 Delaware Avenue, 8th Floor
          P.O. Box 1150
          Wilmington, DE 19801
          Tel: (302) 654-1888
          Fax: (302) 654-2067
          Email: WBowden@ashbygeddes.com
                 MDeBaecke@ashbygeddes.com

             - and -

          MILBANK LLP
          Evan R. Fleck, Esq.
          Benjamin Schak, Esq.
          55 Hudson Yards
          New York, NY US 10001-2163
          Tel: (212) 530-5000
          Fax: (212) 530-5219
          Email: efleck@milbank.com
                 bschak@milbank.com

          Sarah Levin, Esq.
          10 Gresham Street
          London, UK EC2V 7JD
          Tel: +44 20.7615.3000
          Fax: +44 20.7615.3100
          Email: slevin@milbank.com

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

                    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.


SOJOURNER-DOUGLASS: Trustee Hires Berkshire Hathaway as Broker
--------------------------------------------------------------
Charles Goldstein, the Chapter 11 trustee for Sojourner-Douglass
College, Inc., seeks approval from the U.S. Bankruptcy Court for
the District of Maryland to hire Berkshire Hathaway HomeServices
Homesale Realty as real estate broker.

The firm will assist in the sale of Debtor's real property located
at 1020 Pier Pointe Landing, Baltimore.  The property is worth
$886,686, according to Debtor's bankruptcy schedules.

The firm will get a 4.5 percent commission on the sales price, plus
an administrative fee of $395.

Berkshire and its members and associates are disinterested persons
within the meaning of Section 101(14) of the Bankruptcy Code,
according to court filings.

The firm can be reached through:

     Cindy Conklin
     Berkshire Hathaway HomeServices
     Homesale Realty
     1011 Light St.
     Baltimore, MD 21230

                  About Sojourner-Douglass College

Sojourner Douglass College was an American private college
organized around an Afrocentric focus of study.  The college was
formerly known as Homestead-Montebello Center of Antioch
University.  It was established in 1972 and is based in Baltimore,
Md.  Its accreditation was revoked by the Middle States Association
of Colleges and Schools effective June 30, 2015, and the College
has remained closed for instruction.

Sojourner-Douglass College sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. D. Md. Case No. 18-12191) on Feb. 21,
2018.  At the time of the filing, Debtor was estimated to have $1
million to $10 million in assets and $10 million to $50 million in
debt.  Judge Robert A. Gordon oversees the case.  Debtor is
represented by Anu Kmt, Esq., at Kemet Hunt Law Group, Inc.

Charles R. Goldstein was appointed as Debtor's Chapter 11 trustee
on March 30, 2018.  The trustee is represented by McGuireWoods,
LLP.


SOUTHEASTERN METAL: $5.6M Sale of Charlotte Property to BKT Okayed
------------------------------------------------------------------
Judge Brendan L. Shannon of the U.S. Bankruptcy Court for the
District of Delaware authorized Southeastern Metal Products, LLC
and affiliates to sell the real property and improvements thereon
commonly known as 1420 and 1430 Metals Drive, Charlotte,
Mecklenburg County, North Carolina to Southeastern Freight Lines,
doing business as BKT Enterprises, L.P., for $5.6 million.

The sale of the Real Estate will be free and clear of all Liens,
Claims, Encumbrances and Interests, with all such liens, claims,
encumbrances and interest, if any, attaching to the proceeds of the
sale.

The Debtors are authorized and directed to pay, or cause to be
paid, to Fairview Loans IV, LLC the proceeds of the sale of the
Real Estate up to the full amount of Fairview Loans IV, LLC's claim
in cash at the closing of the sale of the Real Estate, subject,
however to a reservation for payment of the KEIP obligations that
become due.

Notwithstanding the possible applicability of Bankruptcy Rules
6004(h), 7062, 9014, or otherwise, the Order will be immediately
effective and enforceable upon its entry.

Warehouse Solutions, LLC is hereby approved as the back-up bidder.
In the event that the Buyer fails to timely close on the purchase
of the Real Estate, the Debtors may close on the sale of the Real
Estate to Warehouse Solutions.

The Buyer (or Warehouse Solutions in the event that the Buyer fails
to timely close) will grant a license, substantially in the form
attached to this Order as Exhibit A, to the purchaser of the
Debtors' machinery and equipment to use the Real Estate for the
purpose of preparing for and conducting an auction sale of the
Personal Property Assets and permitting ultimate purchasers of the
Personal Property Assets to remove the Personal Property Assets
from the Real Estate, to and including Sept. 30, 2020.

In accordance with section 1146(a) of the Bankruptcy Code, the sale
of the Real Estate pursuant to thd Order will be free and clear of
any stamp tax or similar tax as the sale is in furtherance of the
Debtors' chapter 11 plan which was confirmed by Order of the
Bankruptcy Court simultaneously with the entry of the Order.

A copy of the Agreement is available at
https://tinyurl.com/yarsy75z from PacerMonitor.com free of charge.

                About Southeastern Metal Products

Southeastern Metal Products LLC is a contract manufacturing
company
that specializes in fabrication and stampings for various
industries including telecommunications, transportation, appliance
and health and safety industries.

Southeastern Metal Products and its affiliates SEMP Texas, LLC and
Hospital Acquisition LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Del. Lead Case No. 19-10998) on May 6,
2019. At the time of the filing, Southeastern Metal disclosed
assets of between $1,000,001 and $10 million and liabilities of
the
same range. SEMP Texas had estimated assets of less than $1
million
and liabilities of less than $500,000 while Hospital Acquisition
had estimated assets of less than $50,000 and liabilities of less
than $50,000.   

The Debtors hired Weir & Partners LLP as counsel; Finley Group as
financial advisor; and Omni Management Group as claims and
noticing
agent.

Andrew Vara, acting U.S. trustee for Region 3, appointed an
official committee of unsecured creditors on May 20, 2019.
Lowenstein Sandler LLP is the committee's legal counsel.


STREBOR SPECIALTIES: $142K Sale of Equipment to Vapco Approved
--------------------------------------------------------------
Judge Laura K. Grandy of the U.S. Bankruptcy Court for the Southern
District of Illinois authorized Strebor Specialties, LLC's sale of
the following equipment: (i) an equipment valued at $390,940, (ii)
a Box Truck valued at $4,000; and (iii) two Sullivan Palatek 25D4
Compressors that were inadvertently omitted from the schedules but
are valued by the Debtor at approximately $10,000, to Vapco
Products, Inc. for $142,000.

The sale is free and clear of all liens, claims, encumbrances,
successor claims and interests, and all such liens, claims,
encumbrances, successor claims, and interests will attach to the
proceeds of sale.

The provisions of Rule 6004(h) are waived, and the Order is
immediately enforceable.

The counsel to the Debtor will serve a copy of the Order by mail on
all interested parties who were not served electronically.

                 About Strebor Specialties

Strebor Specialties, LLC, is a Dupo, Illinois-based small to medium
liquid filler with capabilities to do aerosol, liquid, and oil
filling.

Strebor Specialties sought bankruptcy protection (Bankr. S.D. Ill.
Case No. 20-30262) on March 10, 2020.  The petition was signed by
its manager, Otto D. Roberts, Jr.  At the time of the filing, the
Debtor disclosed total assets of $1,031,229 and total liabilities
of $6,285,898.

The Debtor tapped Steven M. Wallace of Silver Lake Group, Ltd., as
its attorney.


STREBOR SPECIALTIES: $23K Sale of Supplies to MTN Enterprises OK'd
------------------------------------------------------------------
Judge Laura K. Grandy of the U.S. Bankruptcy Court for the Southern
District of Illinois authorized Strebor Specialties, LLC's sale of
supplies and chemicals, as more particularly described on Exhibit
A, to MTN Enterprises for $23,203.

The sale is free and clear of all liens, claims, encumbrances,
successor claims and interests, and all such liens, claims,
encumbrances, successor claims, and interests will attach to the
proceeds of sale.

The provisions of Rule 6004(h) are waived, and the Order is
immediately enforceable.

The counsel to the Debtor will serve a copy of the Order by mail on
all interested parties who were not served electronically.

A copy of the Exhibit A is available at
https://tinyurl.com/y82sboym from PacerMonitor.com free of charge.

                   About Strebor Specialties

Strebor Specialties, LLC, is a Dupo, Illinois-based small to medium
liquid filler with capabilities to do aerosol, liquid, and oil
filling.

Strebor Specialties sought bankruptcy protection (Bankr. S.D. Ill.
Case No. 20-30262) on March 10, 2020.  The petition was signed by
its manager, Otto D. Roberts, Jr.  At the time of the filing, the
Debtor disclosed total assets of $1,031,229 and total liabilities
of $6,285,898.

The Debtor tapped Steven M. Wallace of Silver Lake Group, Ltd., as
its attorney.


SUSTAINABLE RESTAURANT: July 10 Auction of All Assets Set
---------------------------------------------------------
Judge John T. Dorsey of the U.S. Bankruptcy Court for the District
of Delaware authorized the bidding procedures of Sustainable
Restaurant Holdings, Inc. and its debtor-affiliates in connection
with the auction sale of substantially all assets.

The salient terms of the Bidding Procedures are:

     a. Bid Deadline: July 8, 2020, at 4:00 p.m. (ET)

     b. Initial Bid: Each Bid must clearly set forth the terms of
any proposed Transaction, including and identifying separately any
cash and non-cash components of the proposed Transaction
consideration, including, for example, certain liabilities to be
assumed by the Acceptable Bidder as part of the Plan.

     c. Deposit: 10% of the aggregate value of the cash and
non-cash consideration of the Bid

     d. Auction: An Auction, if any, will be held at 10:00 a.m.
(ET) on July 10, 2020, either via videoconference or at the offices
of Klehr Harrison Harvey Branzburg, LLP, 919 N. Market Street,
Suite 1000, Wilmington, DE 19801, or such later date and time or
location as selected by the Debtors.

     e. Bid Increments: $100,000

     f. Confirmation Hearing: A hearing to consider approval of the
Winning Bidder and confirmation of the Joint Chapter 11 Plan of
Sustainable Restaurant Holdings, Inc. and its Debtor Affiliates
will be held on July 15, 2020 at 11:00 a.m.

     g. Sale Objection Deadline:

     h. At the Auction, the Qualified Bidders that have submitted
Qualified Bids by the Bid Deadline will be entitled, but will not
be obligated, to submit overbids, and will be entitled in any such
overbids to credit bid all or a portion of the value of the secured
portion of its claims, subject to the limits on credit bidding set
forth in the Bidding Procedures.

Notwithstanding Bankruptcy Rule 6004(h), the terms and conditions
of the Order are immediately effective and enforceable upon its
entry.

A copy of the Bidding Procedures is available at
https://tinyurl.com/yc9yagd3 from PacerMonitor.com free of charge.

             About Sustainable Restaurant Holdings

Sustainable Restaurant Holdings was founded in 2008 together with
the launch of Bamboo Sushi, regarded as the world's first
sustainable sushi chain. In 2016, it added quick-service poke chain
QuickFish. And in 2019, the company expanded in California by
opening the San Ramon location. It also has big plans of building
two more Bay Area restaurants, that include a waterfront Bamboo
Sushi on San Francisco's Embarcadero.

Sustainable Restaurant Holdings, Inc. and its debtor affiliates --
https://sustainablerestaurantgroup.com/ -- currently maintain 10
restaurants located in Oregon, Washington, Arizona, California, and
Colorado and operates under the "Bamboo Sushi" and "Quickfish"
brand names.

On May 12, 2020, Sustainable Restaurant Holdings and its affiliates
sought Chapter 11 protection (Bankr. D. Del. Lead Case No.
20-11087).

Sustainable Restaurant was estimated to have $10 million to $50
million in assets and $1 million to $10 million in liabilities as
of the bankruptcy filing.

The Debtors tapped KLEHR HARRISON HARVEY BRANZBURG LLP as legal
counsel; SSG ADVISORS, LLC, as investment banker; and GETZLER
HENRICH & ASSOCIATES LLC as restructuring advisor.  OMNI AGENT
SOLUTIONS is the claims agent.


SYSOREX INC: March 31 Quarter Results Cast Going Concern Doubt
--------------------------------------------------------------
Sysorex, Inc. filed its quarterly report on Form 10-Q, disclosing a
net loss of $1,161,000 on $2,266,000 of total revenues for the
three months ended March 31, 2020, compared to a net loss of
$1,884,000 on $266,000 of total revenues for the same period in
2019.

At March 31, 2020, the Company had total assets of $1,726,000,
total liabilities of $22,936,000, and $21,210,000 in total
stockholders' deficit.

The Company said, "As of March 31, 2020, the Company had a working
capital deficit of approximately $10.3 million.  In addition, the
Company has a stockholders' deficit of approximately $21.2 million.
For the three months ended March 31, 2020 and 2019, the Company
incurred net losses of approximately $1.2 million and $1.9 million,
respectively.  The aforementioned factors raise substantial doubt
about the Company's ability to continue as a going concern.  The
accompanying condensed consolidated financial statements have been
prepared on a going concern basis, which contemplates the
realization of assets and the satisfaction of liabilities in the
normal course of business.  The condensed consolidated financial
statements do not include any adjustments relating to the
recoverability and classification of asset amounts or the
classification of liabilities that might be necessary should the
Company be unable to continue as a going concern within one year
after the date the condensed consolidated financial statements are
issued.

"The Company does not believe that its capital resources as of
March 31, 2020, availability on the Payplant facility to finance
purchase orders and invoices in an amount equal to 80% of the face
value of purchase orders received, funds from financing from our
related party note and other short-term borrowings, higher margin
public sector contracts capture, reauthorization of key vendors and
credit limitation improvements will be sufficient to fund planned
operations during the year ending December 31, 2020.  As a result,
substantial doubt exists the Company will be able to support its
obligations for the next twelve months from the issuance date of
the financial statements.  The Company may raise additional capital
as needed, through the issuance of equity, equity-linked or debt
securities."

A copy of the Form 10-Q is available at:

                       https://is.gd/ll49Bo



TANGO DELTA: Seeks to Hire Jem Management as Bookkeeper
-------------------------------------------------------
Tango Delta Financial, Inc. seeks approval from the U.S. Bankruptcy
Court for the Middle District of Florida to employ Jem Management
Group to provide bookkeeping services.

The firm's services will include an evaluation of Debtor's assets,
assistance in preparing reports and other documents, and general
bookkeeping services.

Joanne Cannone, a bookkeeper at Jem Management, disclosed in court
filings that her firm does not represent any interest adverse to
Debtor and its bankruptcy estate.

Jem Management can be reached at:

     Joanne Cannone
     Jem Management Group
     3013 Cadencia Street
     Carlsbad, CA 92009
     Phone: (760) 436-4954

                    About Tango Delta Financial

Tango Delta Financial Inc., formely doing business as American
Student Financial Group Inc. (ASFG), is a Sarasota, Fla.-based
company that buys student loans for investment purposes.

On May 11, 2020, Tango Delta sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. M.D. Fla. Case No. 20-03672).  The
petition was signed by Tango Delta President Timothy R. Duoos.  At
the time of the filing, Debtor disclosed assets of between $1
million and $10 million and liabilities of the same range.  Debtor
is represented by Cole & Cole Law, P.A.


TANGO DELTA: Seeks to Hire Vanderhoff Law as Special Counsel
------------------------------------------------------------
Tango Delta Financial, Inc. seeks approval from the U.S. Bankruptcy
Court for the Middle District of Florida to employ Vanderhoff Law
Group, P.A. as its special counsel.

Alan Vanderhoff, Esq. of Vanderhoff Law Group, will assist the
Debtor with representation in the following matter:
John Patrick Lowe, TTEE v. Tango Delta Financial, Inc., et al.,
Case No. 18-05259-rbk, pending the U.S. Bankruptcy Court for the
Western District of Texas, San Antonio Division and any appeals or
appurtenant matters thereto.

Vanderhoff Law will be paid based on the hourly rates of its
personnel:

     Alan Vanderhoff                         $395
     Jeanne Vanderhoff                       $395

Alan Vanderhoff, Esq., an attorney at Vanderhoff Law, assures the
Court that the firm is "disinterested" as that term is defined in
Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Alan Vanderhoff, Esq.
     Vanderhoff Law Group, P.A.
     600 West Broadway
     San Diego, CA 92101
     Phone: (619) 299-2050
     Email: alan.vanderhoff@vanderhofflaw.com

                 About Tango Delta Financial

Tango Delta Financial Inc., formely doing business as American
Student Financial Group Inc. (ASFG), is a Sarasota, Fla.-based
company that buys student loans for investment purposes.

On May 11, 2020, Tango Delta sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. M.D. Fla. Case No. 20-03672).  The
petition was signed by Tango Delta President Timothy R. Duoos.  At
the time of the filing, Debtor disclosed assets of between $1
million and $10 million and liabilities of the same range.  Debtor
is represented by Cole & Cole Law, P.A.


TBH19 LLC: Seeks to Hire L M Ross as Special Litigation Counsel
---------------------------------------------------------------
TBH19, LLC seeks approval from the U.S. Bankruptcy Court for the
Central District of California to hire L M Ross, Professional Law
Corporation as its special litigation counsel.

L M Ross will represent Debtor in the upcoming trial in the
following litigation matters:

     a. Chimney Hill Properties, Ltd., a Texas Limited Partnership;
TBH19, LLC, a Delaware limited liability company; Leonard Ross, as
Trusteeof the Leonard M. Ross Revocable Trust (u/d/t 12-20-85),
Plaintiffs vs. Octavian Invest, S.A., a Luxembourg Societe Anonyme;
Octavian Capital S.A.r.l., a Luxembourg responsibilite limitee;
Hanu Fouad Helmi Kolta Beshara aka Hany Beshara asn Does 1-10,
Defendants. Case No. 18STCV-08284;

     b. DBD Credit Funding LLC vs. Glorya Kaufman, etc. (and
associates counterclaims, etc.) Case No. 19STCV31137 in the Los
Angeles Superior Court; and

     c. TBH19, LLC et. al. Harvey Bookstein Living Trust etc. --
Debtor is Plaintiff and Cross-Dffendant; Ross is Plaintiff; Rossco
Holdings, Incorporated is Plaintiff (and associated counterclaims,
etc.). Case No. 19STCV32941 (the HAR CASE), as pending in the Los
Angeles Superior Court.

The firm's services will be provided mainly by Leonard Ross, Esq.,
Eideh Toubi, Esq., and Steven Wood, Esq.

Mr. Ross' billing rate is normally $650 per hour for general
litigation and $900 per hour for any tax matters.  To benefit
Debtor's estate, Mr. Ross has agreed to reduce his rate to $475 per
hour.  Ms. Toubi and Mr. Wood will charge $350 per hour and $400
per hour, respectively.

L M Ross neither holds nor represents any interest adverse to
Debtor and its bankruptcy estate, according to court filings.

The firm can be reached through:

     Leonard M Ross, Esq.
     L M Ross, Professional Law Corporation
     PO Box 10539
     Beverly Hills, CA 90213
     Phone: (424) 789-8707
     Fax: (424) 789-8709
     Email: lross@rb-law.net

                          About TBH19 LLC

TBH19, LLC owns a single-family residential property located at
1011 N. Beverly Hills, Calif., having an appraised value of $125
million.  The residence is considered one of the crowning
achievements of renowned architect Gordon Kaufmann and was built in
1927 for Milton Getz, executive director of the Union Bank & Trust
Company.  TBH19 is managed by Lenard M. Ross.

TBH19 sought for Chapter 11 protection (Bankr. C.D. Cal. Case No.
19-23823) on Nov. 24, 2019.  Debtor disclosed total assets of
$125,042,955 and total liabilities of $75,126,312 as of the
bankruptcy filing.  Judge Vincent P. Zurzolo oversees the case.
The Law Offices of Robert M. Yaspan, is Debtor's legal counsel.


TEMPLAR ENERGY: July 9 Auction of Substantially All Assets Set
--------------------------------------------------------------
Judge Brendan L. Shannon of the U.S. Bankruptcy Court for the
District of Delaware authorized the bidding procedures of Templar
Energy, LLC and its subsidiaries in connection with the sale of
substantially all assets.

The Debtors are authorized to conduct the process for soliciting
bids for the Sale, responding to Qualified Bids, conducting the
Auction, and designating one or more Successful Bids, Successful
Bidders, Backup Bids, and Backup Bidders, all in accordance with
the Bidding Procedures.

For all purposes under the Bidding Procedures: (a) any designated
Stalking Horse Purchaser will be considered a Qualified Bidder, and
any Stalking Horse APA will be considered a Qualified Bid; (b)
should it decide to credit bid, the Agents, in their respective
capacities as such, are Qualified Bidders and any such credit bid
will be considered a Qualified Bid; and (c) in determining whether
the Potential Bidders constitute Qualified Bidders, the Debtors may
consider a combination of bids for the Assets.

The following Assignment Procedures will govern the assumption and
assignment of the Contracts in connection with the Sale, and any
objections related thereto:

     a. No later than 21 days before the Sale Hearing, the Debtors
will file with the Court and serve the Cure Notice on each
Non-Debtor Counterparty to each of the Contracts.   

     b. The Cure Notice served on each Non-Debtor Counterparty will
(i) identify each Contract; (ii) list the Cure Amount the Debtors
believe is required to be paid pursuant to the Bankruptcy Code in
order to effectuate the assignment of the Contract; (iii) include a
statement that the assumption and assignment of such Contract is
neither required nor guaranteed; and (iv) inform such Non-Debtor
Counterparty of the requirement to file any Cure/Assignment
Objections by the Cure/Assignment Objection Deadline.

     c. Th Cure/Assignment Objection Deadline is 14 days after
service of the Cure Notice.  

Cure/Assignment Objection Deadlined. The Debtors may (i) supplement
the list of Contracts set forth in the Cure Notice in the event
that the Debtors identify any additional Contracts and (ii) modify
the previously stated Cure Cost associated with respect to any
Contract.

     d. If the Successful Bidder is a party other than the Stalking
Horse Bidder, objections to the proposed form of adequate assurance
of future performance must be filed with the Court and served on
the Notice Parties by the later of (i) the Post-Auction Objection
Deadline and (ii) the Cure/Assignment Objection Deadline.

     e. Any Non-Debtor Counterparty that fails to timely object as
provided will (i) be forever barred from objecting to the Cure
Amount and from asserting any additional cure or other amounts with
respect to such Contract; and (ii) be deemed to have consented to
the assumption, assignment and/or transfer of such Contract to the
relevant assignee and will be forever barred and estopped from
asserting or claiming against the Debtors or the assignee.

     g. If a Non-Debtor Counterparty files an objection satisfying
the requirements of these Assignment Procedures that is not
consensually resolved by the Sale Hearing, such unresolved
objection will be considered at the Sale Hearing.

     h. The Debtors' assumption and/or assignment of a Contract is
subject to approval by the Court and consummation of the Sale.  

The form of Sale Notice is approved.  Two business days after entry
of the Order, the Debtors, will cause the Bidding Procedures Order
to be sent to the Sale Notice Parties.  They will also post the
Sale Notice and the Bidding Procedures Order on the website of
their claims and noticing agent, Kurtzman Carson Consultants, LLC,
www.kccllc.net/TemplarEnergy.

In addition to the foregoing, at least 21 days before the Sale
Hearing, the Debtors shall, subject to applicable submission
deadlines, publish the Publication Notice once in The Oklahoman and
Gas Daily.   

As soon as reasonably practicable following the conclusion of the
Auction, the Debtors will file on the Court's docket and post on
the website of the Debtors' claims and noticing agent for the
Chapter 11 Cases a notice identifying the Successful Bidder(s) and
any applicable Backup Bidder(s).

The form of Cure Notice and the Assignment Procedures set forth are
approved.

In accordance with the Bidding Procedures, the Debtors may, with
the consent of the RBL Agent, the DIP Agent and the Majority
Lenders, enter into a Stalking Horse APA(s), subject to higher or
otherwise better offers at the Auction, with any Stalking Horse
Bidder(s) on June 26, 2020, or as such date may be extended in
accordance with the Bidding Procedures.

In the event that the Debtors enter into a Stalking Horse APA on or
prior to the Stalking Horse Deadline, the Debtors will file with
the Court and serve on the Sale Notice Parties the Stalking Horse
Notice.  If the Stalking Horse APA satisfies the following
conditions, (a) the Break-Up Fee does not exceed 3% of the
aggregate Stalking Horse Purchase Price; (b) the Expense
Reimbursement does not exceed $750,000; (c) the Consultation
Parties have provided their consent to the stalking horse
designation; and (d) the Stalking Horse Bidder is not an insider,
the Debtors may submit an order under certification of counsel
approving the designation of the Stalking Horse Bidder and Stalking
Horse APA as a stalking horse without the need for further hearing.


Upon the entry of an order approving the designation of the
Stalking Horse Bidders(s), the obligation of the Debtors to pay the
Bid Protection will constitute allowed administrative expense
claims against the Debtors' estate under Sections 503(b)(1)(A) and
507(a)(2) of the Bankruptcy Code.  In such case, the Bid
Protections will be payable by the Debtors to any Stalking Horse
Purchaser on the terms and conditions of the Stalking Horse APA.

The salient terms of the Bidding Procedures are:

     a. Bid Deadline: July 6, 2020 at 5:00 p.m. (ET)

     b. Initial Bid: At a minimum, each Bid must have an Aggregate
Purchase Price that in the Debtors' reasonable business judgment,
after consultation with the Consultation Parties, has a monetary
value equal to or greater than the Aggregate Acquisition
Consideration, plus the Expense Reimbursement and the Termination
Fee (each as defined in the Stalking Horse APA), plus $500,000 in
cash or cash equivalents.

     c. Deposit: 10% of the Aggregate Purchase Price of the Bid

     d. Auction: If at least one Qualified Bid is received in
accordance with the Bidding Procedures with regard to the Assets,
the Debtors will be permitted to hold the Auction in accordance
with the Bidding Procedures, which Auction will take place on July
9, 2020 at 10:00 a.m. (ET) at the offices of counsel to the
Debtors, Paul, Weiss, Rifkind, Wharton & Garrison LLP, 1285 Avenue
of the Americas, New York, New York 10019, or such later time or
such other place, including by telephone or video conference, as
the Debtors will designate.

     e. Bid Increments: $500,000

     f. Sale Hearing: July 14, 2020 at 10:30 a.m. (ET)

     g. Sale Objection Deadline: July 7, 2020 at 4:00 p.m. (ET)

     h. Closing: Aug. 31, 2020

Any Sale Transaction Fee due to Guggenheim Securities as a result
of the closing of any Sale Transaction will be segregated and
escrowed (for the exclusive benefit of Guggenheim Securities) from
the proceeds of such Sale Transaction, as an express carve-out from
the collateral of the Debtors' pre- and postpetition secured
lenders, prior to any other use or distribution of such proceeds.

Notwithstanding any provision in the Bankruptcy Rules to the
contrary, the Order will be effective immediately and enforceable
upon its entry.

The requirements set forth in Local Rules 6004-1, 9006-1, and
9013-1 are satisfied or waived.


A copy of the Bidding Procedures is available at
https://tinyurl.com/y7j67hhn from PacerMonitor.com free of charge.

                     About Templar Energy

Templar Energy LLC and its affiliates, founded in 2012, are
independent exploration and production companies, with a core focus
on the development and acquisition of oil and natural gas reserves
in the Greater Anadarko Basin of Western Oklahoma and the Texas
Panhandle.

Templar Energy and its operating subsidiaries --
http://templar.energy/-- have acquired substantial assets in the
Mid-Continent region covering, as of the Petition Date, 273,400 net
acres by directly leasing oil and gas interests from mineral
owners.

Templar Energy LLC and its affiliates sought Chapter 11 protection
(Bankr. D. Del. Case No. 20-11441) on June 1, 2020.

Templar Energy was estimated to have $100 million to $500 million
in assets and $500 million to $1 billion in liabilities.

Guggenheim Securities, LLC is acting as the Company's investment
banker, Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as
legal counsel, and Alvarez & Marsal North America, LLC, is acting
as financial advisor.  Young Conaway Stargatt & Taylor, LLP, is
local co-counsel.  Kurtzman Carson Consultants LLC is claims agent,
maintaining the page http://www.kccllc.net/TemplarEnergy


TIARA TOWNHOMES: Stipulation With Jiang on Property Sale Approved
-----------------------------------------------------------------
Judge Catherine Bauer of the U.S. Bankruptcy Court for the Central
District of California approved the stipulation between Tiara
Townhomes, LLC and Degang Jiang with regard to the Debtor's
proposed sale outside the ordinary course of business of the
parcels of land located at 14403-14409 Tiara Street, Van Nuys,
California, an eight-unit multi-family residential townhome
complex, together with all improvements and appurtenances located
thereon, to JHPBR, LLC for $5.5 million, filed June 21, 2020.

A hearing on the Motion was held on June 23, 2020 at 10:00 a.m.

The Debtor proposed to sell the Property free and clear of all
liens, claims and encumbrances.

The Stipulation supports the proposed sale of Property.

                    About Tiara Townhomes

Tiara Townhomes, LLC, is a Single Asset Real Estate (as defined in
11 U.S.C. Section 101(51B)).  The company owns in fee simple an
8-unit townhome project located at 14403 Tiara Street, Los Angeles,
CA, having a purchase contract value of $5.45 million.

Tiara Townhomes, LLC, sought Chapter 11 protection (Bankr. C.D.
Cal. Case No. 20-11683) on June 11, 2020.  The petition was signed
by Michael VanderLey, CRO of Rockport Development, Inc., owner and
managing member.

The Debtor had total assets of $5,496,092 and liabilities of
$7,975,000 as of the bankruptcy filing.

The Debtor tapped Matthew W. Grimshaw, Esq., at Marshack Hays LLP,
as counsel.


TOUCHPOINT GROUP: Posts $38K Net Loss in First Quarter
------------------------------------------------------
Touchpoint Group Holdings, Inc., reported a net loss of $38,000 on
$40,000 of revenue for the three months ended March 31, 2020,
compared to a net loss of $690,000 on $0 of revenue for the three
months ended March 31, 2019.

As of March 31, 2020, the Company had $4.49 million in total
assets, $2.52 million in total liabilities, $605,000 in temporary
equity, and $1.37 million in total stockholders' equity.

Historically, the Company has incurred net losses and negative cash
flows from operations which raises substantial doubt about the
Company's ability to continue as a going concern.  The Company has
principally financed these losses from the sale of equity
securities and the issuance of debt instruments.

Touchpoing said, "The Company will be required to raise additional
funds through various sources, such as equity and debt financings.
While the Company believes it is probable that such financings
could be secured, there can be no assurance the Company will be
able to secure additional sources of funds to support its
operations or, if such funds are available, that such additional
financing will be sufficient to meet the Company's needs or on
terms acceptable to us."

At March 31, 2020, the Company had cash of approximately $11,000.
Together with the Company's current operational plan, budget, and
expected financings, the Company believes that it is probable that
it will have sufficient cash to fund its operations into at least
the first quarter of 2021.  However, actual results could differ
materially from the Company's projections.

On Aug. 5, 2019, the Company entered into an equity purchase
agreement with Crown Bridge Partners, LLC, whereby Crown is
committed to purchase up to $10.0 million of new common stock from
the Company at the Company's option during the next three years.
The amount is determined by the market value of trades and is
priced at an 18% discount to average market price.  As of March 31,
2020, no shares have been sold under the Equity Purchase
Agreement.

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

                     https://is.gd/pDQxet

                       About Touchpoint

Touchpoint Group Holdings, Inc., headquartered in Miami, Florida,
-- http://www.touchpointgh.com/-- is a media and digital
technology acquisition and software company, which owns Love Media
House, a full-service music production, artist representation and
digital media business.  The Company also and holds a majority
interest in 123Wish, a subscription-based, experience marketplace,
as well as majority interest in Browning Productions &
Entertainment, Inc., a full-service digital media and television
production company.

Touchpoint Group reported a net loss of $6.63 million for the year
ended Dec. 31, 2019, compared to a net loss of $14.58 million for
the year ended Dec. 31, 2018.  As of Dec. 31, 2019, the Company had
$4.83 million in total assets, $2.85 million in total liabilities,
$605,000 in temporary equity, and $1.37 million in total
stockholders' equity.

Cherry Bekaert LLP, in Tampa, Florida, the Company's auditor since
2016, issued a "going concern" qualification in its report dated
April 24, 2020 citing that the Company has recurring losses and
negative cash flows from operations that raise substantial doubt
about its ability to continue as a going concern.


TRAVELERS REST: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Travelers Rest Enterprises, Inc.
          d/b/a Hampton Inn Travelers Rest
        593 Roe Center Court
        Travelers Rest, SC 29690

Case No.: 20-02756

Business Description: Travelers Rest Enterprises, Inc.
                      operates in the hotels and motels industry.
                      The Company listed itself as a Single Asset
                      Real Estate (as defined in 11 U.S.C. Section
                      101(51B)).

Chapter 11 Petition Date: July 1, 2020

Court: United States Bankruptcy Court
       Southern District of Carolina

Judge: Hon. Helen E. Burris

Debtor's Counsel: Robert Pohl, Esq.
                  POHL, P.A.
                  P.O. Box 27290
                  Greenville, SC 29616
                  Tel: 864-233-6294
                  E-mail: Robert@POHLPA.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by David Jagirdar, director and chairman.

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

                       https://is.gd/hayt6k


ULTRA PETROLEUM: Taps Deloitte to Provide Tax Services
------------------------------------------------------
Ultra Petroleum Corp. and its debtor affiliates seek approval from
the U.S. Bankruptcy Court for the Southern District of Texas to
employ Deloitte Tax LLP as their tax services provider, effective
as of May 14, 2020.

Deloitte Tax will render the following tax services to the
Debtors:

(i) Engagement Letter

     (a) Provide tax advisory services to the Debtors on federal,
state and local tax matters.

(ii) Tax Restructuring Work Order

     (a) Advise the Debtors as they consult with their legal and
financial advisors on the cash tax effects of restructuring and
bankruptcy and the post-restructuring tax profile, including
transaction costs and/or plan of reorganization tax costs, and cash
tax effect of the chapter 11 filing and emergence transaction. This
will include gaining an understanding of the Debtors' financial
advisors' valuation model and disclosure model to consider the tax
assumptions contained therein;

     (b) Advise the Debtors regarding the restructuring and
bankruptcy emergence process from a tax perspective, including the
analyzing various structuring alternatives and modification of
debt;

     (c) Advise the Debtors on the cancellation of debt income for
tax purposes under Internal Revenue Code (IRC) section 108,
including cancellation of debt income generated from a
restructuring, bankruptcy emergence transaction, and/or
modification of debt;

     (d) Advise the Debtors on post-restructuring tax attributes
and post-bankruptcy tax attributes (tax basis in assets, tax basis
in subsidiary stock and net operating loss carryovers) available
under the applicable tax regulations and the reduction of such
attributes based on the Debtors' operating projections;

     (e) Advise the Debtors on net built-in gain or net built-in
loss position at the time of ownership change (as defined under IRC
section 382), including limitations on use of tax losses generated
from post-restructuring or post-bankruptcy asset or stock sales;

     (f) If eventually applicable, advise the Debtors on the
effects of tax rules under IRC sections 382(l)(5) and (l)(6)
pertaining to the post- bankruptcy net operating loss carryovers
and limitations on their utilization and the Debtors' ability to
qualify for IRC section 382(l)(5);

     (g) Advise the Debtors as to the treatment of post-petition
interest for federal and state income tax purposes, including the
applicability of the interest limitations under IRC section
163(j);

     (h) Advise the Debtors as to the state and federal income tax
treatment of pre-petition and post-petition reorganization costs
including restructuring-related professional fees and other costs,
the categorization and analysis of such costs, and the technical
positions related thereto;

     (i) Advise the Debtors in their evaluation and modeling of the
tax effects of liquidating, disposing of assets, merging or
converting entities as part of the restructuring, including the
effects on federal and state tax attributes, state incentives,
apportionment and other tax planning;

     (j) Advise the Debtors on state income tax treatment and
planning for restructuring or bankruptcy provisions in various
jurisdictions including cancellation of indebtedness calculation,
adjustments to tax attributes and limitations on tax attribute
utilization;

     (k) Advise the Debtors on responding to tax notices and audits
from various taxing authorities;

     (l) Assist the Debtors with identifying potential tax refunds
and advise the Debtors on procedures for tax refunds from tax
authorities;

     (m) Advise the Debtors on income tax return reporting of
bankruptcy issues and related matters;

     (n) Assist the Debtors with documenting as appropriate, the
tax analysis, development of the Debtors' opinions, recommendation,
observations, and correspondence for any proposed restructuring
alternative tax issue or other tax matter described above, which
does not include preparation of information for tax provision or
financial reporting purposes;

     (o) Advise the Debtors regarding other state, federal, or
international income tax questions that may arise in the course of
this engagement, as requested by the Debtors, and as may be agreed
by Deloitte Tax;

     (p) Advise the Debtors with non-U.S. tax implications and
structuring alternatives;

     (q) As requested by the Debtors and as may be agreed to by
Deloitte Tax, assist in documenting as appropriate, the tax
analysis, development of the Debtors' opinions, recommendation,
observations, and correspondence for any proposed debt
restructuring or combination alternative tax issue or other tax
matter described above; and

     (r) As requested by the Debtors and as may be agreed to by
Deloitte Tax, advise the Debtors regarding other state or federal
income tax questions.

(iii) Tax Depletion Work Order

     (a) Assist the Debtors in computing its oil and gas tax
depletion expense and other related attributes for the tax year
ended December 31, 2019, as follows:

        (1) Loading of Debtors' ending leasehold basis and
intangible drilling costs (IDC) detail as of December 31, 2018.

        (2) Preparing supporting workpapers showing the
reconciliation of ending leasehold basis, capitalized IDC, and
cumulative expensed IDC as of December 31, 2018 to those values as
contained within Debtors' historical workpapers for federal income
tax purposes.

        (3) Computing federal tax depletion, including the required
computation of both cost depletion and percentage depletion, as
applicable.

        (4) Preparing supporting workpapers showing the final oil
and gas federal tax depletion computations for inclusion in
Debtors' tax return for the tax year ended December 31, 2019.

        (5) Preparing supporting workpapers showing the
reconciliation of depletable tax basis and ending leasehold basis
as of December 31, 2019 for federal income tax purposes.

        (6) Computing federal tax gain/loss on disposition of oil
and gas properties.

        (7) Computing federal tax depreciation expense for the year
ended December 31, 2019 for oil and gas fixed assets where the
Debtors have elected to apply recovery rates that correspond to the
cost depletion rates.

     (b) Provide the Debtors with copies of workpapers summarizing
the Tax Depletion Amounts and related data for the Debtors' use in
preparing their tax returns.

     (c) Upload the data utilized or prepared in connection with
the services to Deloitte Tax's Upstream Tax Analytics portal and
provide a dashboard accessible by the Debtors' personnel for the
purpose of displaying the results of Deloitte Tax's services.

Pursuant to the terms of the Engagement Letter and the Tax
Depletion Work Order entered into pursuant to the Engagement
Letter, the firm's professionals will be paid at these hourly rates
below:

     Partner/Principal/Managing Director       $610
     Senior Manager                            $545
     Manager                                   $460
     Senior Staff                              $383
     Staff                                     $310

Pursuant to the terms of the Engagement Letter and the Tax
Restructuring Work Order, Deloitte Tax will bill the Debtors fees
for services based on the amount of professional time required and
the experience level of the professionals involved, as set forth
below:

          Professional Level                  Local Office
     Partner/Principal/Managing Director           $678          
     Senior Manager                                $575           
     Manager                                       $493
     Senior                                        $383
     Staff                                         $310

          Professional Level      National Tax & Restructuring
Specialists
     Partner/Principal/Managing Director           $965
     Senior Manager                                $795
     Manager                                       $670
     Senior                                        $560
     Staff                                         $450

Prior to the Petition Date, the Debtors paid Deloitte Tax a
retainer in the amount of $75,000 for services to be performed
pursuant to the Tax Restructuring Work Order.

In addition to the fees set forth above, actual, reasonable, and
necessary expenses, including travel, report production, delivery
services, and other expenses incurred in providing Deloitte Tax's
services, will be included in the total amount billed.

Prior to the Petition Date, Deloitte Tax provided professional
services to the Debtors. In the 90 days prior to the Petition Date,
the Debtors paid Deloitte Tax approximately $480,000, including the
Retainer and a Retainer refresh payment, with respect to invoices
issued by Deloitte Tax for services performed and/or to be
performed. As of the Petition Date, no amounts were outstanding
with respect to the invoices issued by Deloitte Tax to the Debtors
prior to the Petition Date, and no amounts of the Retainer amounts
remained as of such date. As of the Petition Date, approximately
$79,854 were outstanding with respect to the services performed by
Deloitte Tax. Deloitte Tax does not intend to seek a recovery on
account of such amounts.

Ala'a Boulos, a partner of Deloitte Tax LLP, disclosed in court
filings that the firm a "disinterested person" as that term is
defined in section 101(14) of the Bankruptcy Code, as modified by
section 1107(b) of the Bankruptcy Code.

The firm can be reached through:
   
     Ala'a Boulos
     DELOITTE TAX LLP
     1111 Bagby Street, Suite 4500
     Houston, TX 77002
     Telephone: (713) 982-2000
     Facsimile: (713) 982-2001
          
                                 About Ultra Petroleum

Ultra Petroleum Corp., an independent oil and gas company, engages
in the acquisition, exploration, development, operation, and
production of oil and natural gas properties. Its principal
business activities are developing its natural gas reserves in the
Green River Basin of southwest Wyoming, the Pinedale and Jonah
fields. The company was founded in 1979 and is headquartered in
Englewood, Colorado.

Ultra Petroleum Corp. and its affiliates sought Chapter 11
protection (Bankr. S.D. Tex. Lead Case No. 20-32631) on May 14,
2020.

The Debtor disclosed total assets of $1,450,000,000 and total debt
of $2,560,000,000 as of March 31, 2020.

The Hon. Marvin Isgur is the case judge.

The Debtors tapped Kirkland & Ellis LLP as general bankruptcy
counsel; Jackson Walker LLP as local bankruptcy counsel; Quinn
Emanuel Urquhart & Sullivan, LLP as special counsel; Centerview
Partners LLC as investment banker; FTI Consulting, Inc. as
financial advisor; and Deloitte Tax LLP as tax services provider.
Prime Clerk LLC is the claims agent.


UMATRIN HOLDING: Posts Net Profit of $397K in First Quarter
-----------------------------------------------------------
Umatrin Holding Limited reported net profit attributable to the
company of $396,531 on $790,591 of sales for the three months ended
March 31, 2020, compared to net profit attributable to the company
of $12,017 on $154,799 of sales for the three months ended March
31, 2019.

As of March 31, 2020, the Company had $1.61 million in total
assets, $1.52 million in total liabilities, and $92,217 in total
equity.

The cash and cash equivalents for the period ended March 31, 2020
and Dec. 31, 2019 were $142,247 and $171,678 respectively.

The Company had accumulated deficit of $2,972,638 as of March 31,
2020 which include a profit of $500,344 for the three months ended
March 31, 2020.

Umatrin Holding said, "The Company ability to generate profit in
the next 12 months is uncertain given that the market in which it
operates is facing an economic slowdown.  Management's plans
include the raising of capital through the equity markets to fund
future operations, seeking additional acquisitions, and generating
profits through its business operations; however, there can be no
assurances the Company will be successful in its efforts to secure
additional equity financing and obtaining sufficient profit.  These
factors raise substantial doubt about the Company's ability to
continue as a going concern.  The accompanying financial statements
do not include any adjustments that might be necessary if the
Company is unable to continue as a going concern."

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

                      https://is.gd/JG4MVJ

                         About Umatrin

Umatrin Holding Limited (formerly known as Golden Opportunities
Corporation) was incorporated in the state of Delaware on Feb. 2,
2005.  The Company was originally incorporated in order to locate
and negotiate with a targeted business entity for the combination
of that target company with the Company.  On Jan. 6, 2016, the
Company acquired 80% of the equity interests of UMatrin Worldwide
SDN BHD in exchange for the issuance of a total of 100,000,000
shares of its common stock to the two holders of Umatrin, Dato' Sri
Eu Hin Chai and Dato' Liew. Immediately following the Share
Exchange, the business of Umatrin became the business of UMHL.  The
UMHL operation office remained in Malaysia and the business market
will remain focus in Asia.  Umatrin provides technology and
services to enable consumers, merchants and other participants to
conduct business in its cloud-based trading system.

Umatrin Holding reported net profit of $95,138 for the year ended
Dec. 31, 2019, compared to a net loss of $453,120 for the year
ended Dec. 31, 2018.  As of Dec. 31, 2019, the Company had $1.53
million in total assets, $1.94 million in total liabilities, and a
total deficit of $409,949.

JLKZ CPA LLP, in Flushing, New York, the Company's auditor since
2019, issued a "going concern" qualification in its report dated
May 29, 2020 citing that the Company had incurred substantial
losses with working capital deficits, which raises substantial
doubt about its ability to continue as a going concern.


UNITED AIRLINES: Egan-Jones Lowers Senior Unsecured Ratings to B
----------------------------------------------------------------
Egan-Jones Ratings Company, on June 22, 2020, downgraded the
foreign currency and local currency senior unsecured ratings on
debt issued by United Airlines Inc to B from BB. EJR also
downgraded the ratings on commercial paper issued by the Company to
C from A3.

Headquartered in Willis Tower, Chicago, Illinois, United Airlines,
Inc. provides commercial airline services.



VERIFONE SYSTEMS: S&P Affirms 'B-' ICR; Outlook Stable
------------------------------------------------------
S&P Global Ratings affirmed all its ratings on VeriFone Systems
Inc., including the 'B-' issuer credit rating and issue-level
ratings.

S&P expects credit metrics to be weak in fiscal 2020, but operating
trends to improve as the economy improves and as restructuring
costs decrease. It expects adjusted leverage to continue to rise in
fiscal 2020, to about 10x by the end of this fiscal year, January
2021, from 8.4x in fiscal 2019. S&P expects cash flow to be about
negative $40 million this fiscal year as the company incurs high
costs to implement its restructuring plan (formulated at the time
of the 2018 leverage buyout) and as revenue declines because of the
delay of hardware shipments. S&P now expects the business recovery
to be gradual compared with its previous expectation for a sharp
increase in sales for fiscal 2021 (in the range of 15%-20%). The
downward revision to S&P's fiscal 2021 forecast reflects the
disproportional negative impact it expects many of VeriFone's end
customers to have during the pandemic and related recession. S&P
now expects revenue to grow in the low- to mid-single-digit
percentage area next year because many 2019 and 2020 shipment
orders will be pushed into 2021, when pandemic-related concerns
should ease. Some revenue growth next year, combined with a steep
decline in restructuring costs (from about $75 million in fiscal
2020) should lead to deleveraging and a return to positive FOCF
next year. S&P also expects the company's operating expenditures
(net of non-cash charges and restructuring charges) to be about
$355 million in fiscal 2021, an improvement of about 12% year over
year due to cost-saving programs.

S&P expects sufficient liquidity over the next 12 months.
VeriFone's May 2020 credit facility amendment provides the company
with more financial flexibility over the next year. The rating
agency believes the minimum EBITDA thresholds for bank compliance
will provide the company access to its full $250 million revolving
credit facility for the duration of fiscal 2020. In fiscal 2021,
S&P expects the company would be restricted to about $87 million of
the facility under the rating agency's base case scenario, but the
rating agency does not expect a need for a revolver draw at that
time.

Besides about $75 million of restructuring costs, the company does
not expect any other large cash outflows through the duration of
this year and next year. The company's term loan is due in 2025,
and S&P does not expect the company to make sizable merger and
acquisition transactions over the next year. The company has
terminated its previously announced acquisition of SmartPay, which
S&P views as a positive from a liquidity perspective.

VeriFone faces challenging business environment dynamics longer
term. S&P believes VeriFone faces a number of market pressures over
the next few years, which raises selling execution risks. The
retail industry has faced secular pressures for a number of years
and has been disproportionally harmed during the current COVID-19
pandemic. S&P expects the demand environment for VeriFone's new
products and software to soften over the next year as a result.
S&P's estimates for revenue growth next year are due more to
fulfillment of pre-COVID orders than by new orders. S&P notes that
leverage and cash flow improvement is not predicated on a
significant recovery in hardware and software sales, but rather on
the reduction of restructuring charges.

"The stable outlook reflects our expectation that while VeriFone
faces operational risk and an uncertain global macro environment,
we expect a gradual business recovery and margin improvements from
a decline in restructuring costs to support deleveraging to below
8x and FOCF turning positive over the next 12 months. The outlook
also considers our expectation for VeriFone's liquidity to remain
sufficient over the same period," S&P said.

S&P could lower the rating if VeriFone's revenue continued to
decline because of broad-based deterioration in the company
customer base, weaker-than-expected profitability, or further
significant restructuring activities, causing persistent negative
FOCF generation or elevated leverage above 10x. S&P could also
lower its rating if total liquidity (cash plus revolver
availability) were less than $125 million (approximately one year's
interest). This deterioration would be indicative of an
unsustainable capital structure.

"We could raise the rating if we believed the company would sustain
revenue growth and EBITDA improvements such that leverage were
below 7x and FOCF to debt were at least in the mid-single digits,"
the rating agency said.


VISITING NURSE: Stipulation With Atty. Gen. on Assets Sale Okayed
-----------------------------------------------------------------
Judge Mark Houle of the U.S. Bankruptcy Court for the Central
District of California has entered an order approving the
stipulation between Visiting Nurse Association of the Inland
Counties and the State of California resolving potential objection
to the Debtor's bidding procedures in connection with the auction
sale of (i) hospice business assets to Bristol Hospice, L.L.C., or
its nominee, and (ii) substantially all of the Debtor's home health
business assets to HealthSure Management Services, LLC ("HMS").

A hearing on the Motion is set for June 30, 2020 at 12:00 p.m.

The Attorney General agrees that he will not object to sales
proposed in the Sale Motion, so long as (a) Debtor is in compliance
with the cash collateral budgets incorporated into the cash
collateral stipulation between the Debtor and the H.N. and Frances
C. Berger Foundation filed on June 18, 2020, and (b) at all times
after July 31, 2020, and through Sept. 30, 2020, cash on hand in
the DIP accounts does not fall below $300,000.

A copy of the Bidding Procedures is available at
https://tinyurl.com/y994l47a from PacerMonitor.com free of charge.

               About Visiting Nurse Association
                     of the Inland Counties

Visiting Nurse Association of the Inland Counties --
http://www.vnacalifornia.org/-- is a not-for-profit organization
that provides health, palliative and hospice services when in-home
care is needed or preferred.  It offers a full continuum of care
for patients, including home health, hospice and bereavement
services.  The company is headquartered in Riverside, California,
with patient care centers in Palm Desert and Murrieta.

Visiting Nurse Association of the Inland Counties sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Cal. Case No.
18-16908) on Aug. 15, 2018.  In the petition signed by Bruce
Gordon, corporate controller, the Debtor was estimated to have
assets of $1 million to $10 million and liabilities of $10 million
to $50 million.  

Judge Mark D. Houle oversees the case.  

Weiland Golden Goodrich LLP is the Debtor's legal counsel.

On Sept. 13, 2018, the U.S. trustee appointed Jerry Seelig as
patient care ombudsman in the Debtor's case.  The PCO tapped
Perkins Coie LLP as his legal counsel.

On Sept. 19, 2018, the Office of the U.S. Trustee appointed a
committee of unsecured creditors.  The committee retained Marshack
Hays LLP as counsel.


WILLSCOT MOBILE: S&P Raises ICR to BB-; Ratings Off Watch Positive
------------------------------------------------------------------
S&P Global Ratings raised its issuer credit rating on WillScot
Mobile Mini Holdings Corp. (previously known as WillScot Corp.) to
'BB-' from 'B+' and removed all of its ratings on the company from
CreditWatch, where S&P placed them with positive implications on
March 4, 2020. The outlook is stable.

S&P is also raising its issue-level ratings to 'B+' from 'B' on the
company's $490 million senior secured notes due 2023 and $650
million senior secured notes due 2025. The recovery rating on the
notes is unchanged at '5' (10%-30%; rounded estimate: 20%).

The rating agency is also lowering its ratings on Mobile Mini Inc.,
including its issuer credit rating on the company, to 'BB-' from
'BB' and removing all ratings from CreditWatch, where it placed
them with negative implications on March 4, 2020. Subsequent to
this, S&P is withdrawing all ratings on Mobile Mini, including on
the debt that has been redeemed as a result of the merger.

S&P believes WillScot now benefits from a stronger competitive
position as the largest modular space and portable storage lessor
in the U.S.; however, end-market exposure to more cyclical segments
remains high. S&P has maintained its business risk assessment of
weak. With pro forma 2020 revenue estimated at about $1.6 billion,
WillScot is now significantly larger than its closest peers,
including unrated competitors such as McGrath RentCorp (2019
revenues: $570 million) and General Finance Corp. (2019 leasing
revenues: $240 million). WillScot will operate a combined fleet of
over 360,000 modular space and portable storage units across over
275 locations in the U.S., Canada, Mexico, and U.K. However, S&P
doesn't expect much change in end-market exposures and estimate the
company will continue to generate over 74% of revenue from the more
cyclical construction and industrial segments." In addition, while
the merger adds to the company's geographic footprint within the
U.S., the combined company will continue to derive more than 85% of
its revenues from the U.S.

S&P is revising its financial risk assessment to significant from
aggressive. On a pro forma basis, the rating agency expects EBIT
interest coverage in 2020 in the 1x area and funds from operations
(FFO) to debt in the low-teens percent area, affected somewhat by
transaction and integration-related expenses and somewhat lower
demand due to the coronavirus-related economic downturn. S&P
expects Mobile Mini's tank and pump business to be affected by
significant softness in the energy markets in 2020. This compares
with WillScot's stand-alone EBIT interest coverage of 1x and FFO to
debt of 13.5% in 2019. However, S&P expects credit metrics to
improve in 2021 as transaction-related expenses decline and the
company benefits from synergies, both in its internal operations
and through cross-selling opportunities across its customer base.
It also expects financial performance in 2021 to benefit from
modest improvements in the company's asset utilization and rental
rates, as economic activity recovers somewhat. As a result, the
rating agency expects EBIT interest coverage to increase to the
high-1x area and FFO to debt in the high-teens percent area.

S&P's liquidity assessment remains adequate. Although it expects
WillScot's cash flow to be somewhat affected by transaction-related
expenses over the next year, S&P continues to view the company's
liquidity as adequate, with sources at about 2.5x uses. The
company's liquidity position is supported by the availability of
over $900 million under its new $2.4 billion asset-backed lending
facility (ABL) and minimal cash balances. The company has no debt
maturities over the next 12 months. S&P expects the company to
incur over $200 million in capital spending over the next year;
however, it does have flexibility to reduce capital spending if
demand warrants.

The outlook on WillScot is stable. Although S&P expects
transaction-related expenses, and somewhat lower demand due to
COVID-19 to affect the company's performance in 2020, the rating
agency expects credit metrics to improve in 2021. In 2021, S&P
expects EBIT interest coverage to increase to the high-1x area from
about 1x in 2020 (on a pro forma basis) and FFO to debt to increase
to the high-teens percent area from the low-teens percent area.

"We could lower our ratings on WillScot over the next 12 months if
the company's adjusted EBIT interest coverage ratio declined below
1.3x or its FFO-to-debt ratio fell below 13% on a sustained basis.
This could come from weaker demand from lower-than-expected
nonresidential construction or industrial output in the U.S. or if
the company pursued additional debt-financed acquisitions," S&P
said.

"Although unlikely over the next year, we could raise our ratings
on WillScot if the company experienced better-than-expected demand
that supported a significant improvement in its utilization and
pricing. Specifically, we would expect the company's earnings and
cash flow to improve such that its adjusted EBIT interest coverage
increased above 1.7x and its FFO-to-debt ratio increased to the
high-20% area on a sustained basis," the rating agency said.


WINNEBAGO INDUSTRIES: S&P Alters Outlook to Stable, Affirms B+ ICR
------------------------------------------------------------------
S&P Global Ratings revised its outlook to stable from negative on
Winnebago Industries Inc., and affirmed the 'B+' issuer credit
rating.

S&P also assigned its 'BB' issue-level rating and '1' recovery
rating to the $300 million senior secured notes proposed by
Winnebago to repay the existing term loan and add cash to the
balance sheet, which will bolster liquidity.

The outlook revision and 'B+' rating affirmation incorporate S&P's
updated forecast for adjusted debt to EBITDA in the 3.25x-4.25x
range in fiscal 2020 and 2021 and reflect robust near-term demand
for RVs.  Winnebago's fiscal third-quarter results, backlog, and
recent comments and disclosures by RV industry participants suggest
fiscal 2020 and 2021 results could be favorable compared to S&P's
previous forecast published on March 27, 2020, despite continued
significant macroeconomic headwinds and uncertainty surrounding
COVID-19 containment. On March 27, S&P assumed Winnebago's fiscal
2020 total revenue would grow in the 5%-15% range incorporating
acquired revenue from Newmar, fiscal 2021 revenue could decline
10%-20%, and that adjusted debt to EBITDA could be in the 4x-4.5x
range through fiscal 2021. S&P has favorably revised its base-case
assumptions so that revenue growth in fiscal 2020 is at the high
end of its 5%-15% range, fiscal 2021 revenue shows modest organic
growth year-over-year, and adjusted debt to EBITDA will be in the
3.25x-4.25x range through fiscal 2021. S&P's updated leverage
forecast has a cushion compared to its 5x downgrade threshold,
which is supportive of its stable outlook. S&P's assumptions
incorporate continued growth in Winnebago's towables segment
supported by Grand Design's market share gains as well as the
motorhomes segment's improved financial results partly supported by
the Newmar acquisition and recent initiatives to reduce fixed
costs."

Recent RV industry earnings disclosures, executive interviews, and
credible press reports have commented on a spike in retail RV
demand in late April, May, and June. Winnebago reported that its
backlogs in terms of towables and motorhomes units were up 87% and
99% respectively as of May 2020, representing significant increases
year-over-year. While backlogs are an imperfect indicator and
subject to cancellation or postponement by dealers at any time
without penalty, the increases suggest at least a temporary surge
in demand that provides confidence in S&P's fiscal 2020 forecast.
In addition, Winnebago management indicated that retail sales
during the remainder of calendar 2020 could increase
year-over-year, and that wholesale shipments could increase by at
least the same rate, providing visibility into fiscal 2021 results.
S&P believes the demand could be attributable to consumers'
perception that RV travel is safer and more amenable to social
distancing compared to other travel options. Competing travel and
leisure options, including those requiring flight, hotel stays, or
mass gatherings, have diminished during recent months, which could
have fostered pent-up demand and a cushion of discretionary income
among consumers. Beyond the healthy level of annual RV demand seen
in recent years, the COVID-19 pandemic could be attracting new
buyers, particularly those who are younger, family-oriented, or may
be able to work remotely. Additionally, it is S&P's understanding
that the baby boomer demographic that drives a sizeable portion of
RV demand is less affected by the current spike in unemployment,
which has tended to disproportionately impact lower-wage and hourly
wage workers who may face a hurdle to obtain consumer financing.
Other benign factors, including historically low interest rates,
government stimulus supportive of the stock market and related
wealth effects, and low fuel costs are also indicative of near-term
demand. Therefore, the RV industry could gain share in the overall
travel market over S&P's forecast period through fiscal 2021.

Key risks include sustainability of demand, uncertainty surrounding
the economy and coronavirus containment, and the highly competitive
dynamics of the RV industry.  S&P's updated base-case forecast for
Winnebago assumes growth over at least the next fiscal year while
the recession is ongoing, which would be anomalous compared to
previous recessions when RV industry demand dropped precipitously.
Winnebago's business is typically highly cyclical and its products
are highly discretionary. The company experienced negative EBITDA
during some prior recessions. The cyclicality of Winnebago's
business probably increased during recent years through the
acquisitions of manufacturers of premium and luxury products,
including Newmar, Chris-Craft, and Grand Design. Greater exposure
to higher-end and big-ticket products could exacerbate the impact
of a consumer downturn. Financial risk over the coming years could
spike if RV demand is not sustained in a manner that enables
Winnebago to quickly adjust its cost structure up or down in
response to sharp changes in demand. Winnebago's financial results
could be impacted if unemployment adversely affects the target
customer demographic, or if coronavirus containment efforts
reintroduce variability in factory production and revenue
generation.

In addition, the RV industry is highly competitive and has
previously experienced an industrywide inventory correction as a
result of mismatched wholesale shipments and retail demand, which
caused significant shipments declines for a period of time. In the
current environment, original equipment manufacturers (OEMs) may
compete for market share when consumer demand is perceived to be
strong and temporary, which could cause inadvertent overproduction
and excess inventory in the channel. Such dynamics could introduce
variability in revenue growth, EBITDA margin, and working capital
uses of cash if the RV industry does not accurately cope with
retail demand.

The proposed senior secured notes issuance will further bolster
liquidity and enable Winnebago to withstand the recession over the
next few years.  S&P estimates that Winnebago has adequate
liquidity for at least 12 months even in a low-revenue scenario,
and that the liquidity runway is even longer under the rating
agency's base-case and revenue forecast. Winnebago had $152 million
of cash balances and full availability under its $192.5 million
asset-based lending credit facility as of May 2020. Incorporating
the proposed $300 million senior secured notes issuance and term
loan repayment, Winnebago would have pro forma liquidity of $383.5
million. Although S&P does not net cash against debt in its measure
of adjusted leverage for highly cyclical companies such as
Winnebago, the company's substantial cash balances mitigate
financial risk and provide flexibility to fund operating
investments or working capital uses if needed. To the extent that a
surge in RV demand is sustained and results in higher revenues than
assumed in S&P's base case, Winnebago's liquidity profile would be
enhanced.

"It is our understanding the cash balances are partly intended to
enable the company to navigate unanticipated business disruptions,
fund operating and investment uses, and return capital to
shareholders in the form of a regular dividend. We expect the
proposed senior secured notes will provide additional flexibility
to the liquidity profile as they eliminate the maximum senior
secured net leverage ratio covenant and principal amortization
payments associated with the existing term loan," S&P said.

Environmental, social, and governance (ESG) factors relevant to the
rating action:

-- Health and safety

The stable outlook reflects the current backlog at Winnebago that
could translate into higher RV demand at least through the rest
fiscal 2020 (ending in August), and possibly into fiscal 2021. As a
result, S&P believes Winnebago will generate sufficient EBITDA to
maintain its measure of anticipated leverage well below the 5x
downgrade threshold at the current 'B+' rating, notwithstanding the
sharp EBITDA decline experienced in recent months. The stable
outlook also incorporates substantial cash balances as of May 2020,
which provide financial and operating flexibility.

"We could lower the issuer credit rating if we believed Winnebago
would sustain adjusted debt to EBITDA above 5x, which could occur
if RV demand significantly reverses and declines, if coronavirus
containment efforts disrupt production and revenue generation, or
if liquidity significantly deteriorates," S&P said.

"While unlikely at this time, we could raise the rating if adjusted
leverage is sustained with a cushion below 4x. Such an improvement
in credit measures would likely reflect business stabilization
after containment of COVID-19 and an improvement in economic growth
in the U.S.," the rating agency said.


XENIA HOTELS: Needs Covenant Waivers to Remain as a Going Concern
-----------------------------------------------------------------
Xenia Hotels & Resorts, Inc. filed its quarterly report on Form
10-Q, disclosing a net loss of $37,130,000 on $215,353,000 of total
revenues for the three months ended March 31, 2020, compared to a
net income of $17,276,000 on $293,687,000 of total revenues for the
same period in 2019.

At March 31, 2020, the Company had total assets of $3,516,545,000,
total liabilities of $1,835,852,000, and $1,680,693,000 in total
equity.

The Company said, "As of March 31, 2020, the Company was not in
compliance with one of its debt financial maintenance covenants,
which was a common financial covenant that has resulted in an event
of default under both its Senior Unsecured Revolving Credit
Facility and its unsecured term loans.  In addition, management
anticipates being unable to meet most, if not all, of its debt
financial maintenance covenant requirements during the next twelve
months due to the ongoing impact of the COVID-19 pandemic, which is
expected to significantly reduce our operating income.  The Company
is currently in discussions with its lender group to obtain
temporary covenant relief and an extension of its term loan
maturing in February 2021.  Any covenant waiver or debt extension
will likely lead to operating restrictions, increased costs and
fees, increased interest rates, additional restrictive covenants
and other lender protections that may be applicable.  There can be
no assurance that we will be able to obtain temporary covenant
relief, payment deferrals or an extension in a timely manner, on
acceptable terms, or at all and, therefore, it cannot be considered
probable of occurring.  If we are not able to obtain waivers of the
existing events of default, our lenders could potentially
accelerate amounts due under our outstanding debt agreements and
related derivative contract payables for which the Company may not
have sufficient liquidity to pay.  Therefore, the failure to obtain
waivers would have a material adverse effect on our business and
financial condition.  As a result, the Company has substantial
doubt about its ability to continue as a going concern for the next
12 months."

A copy of the Form 10-Q is available at:

                       https://is.gd/X3INgk

Xenia Hotels & Resorts, Inc. is a self-advised and
self-administered REIT that invests primarily in uniquely
positioned luxury and upper upscale hotels and resorts, with a
focus on the top 25 U.S. lodging markets as well as key leisure
destinations in the United States. Xenia's hotels are primarily in
the luxury and upper upscale segments, and operated and/or licensed
by industry leaders such as Marriott, Hyatt, Kimpton, Fairmont,
Loews, and Hilton, as well as leading independent management
companies including The Kessler Collection and Sage Hospitality.
The Company is headquartered in Orlando, Florida.



ZION OIL: History of Operating Losses Casts Going Concern Doubt
---------------------------------------------------------------
Zion Oil & Gas, Inc., filed its quarterly report on Form 10-Q,
disclosing a net loss of $1,608,000 on $0 of revenue for the three
months ended March 31, 2020, compared to a net loss of $2,170,000
on $0 of revenue for the same period in 2019.

At March 31, 2020, the Company had total assets of $26,176,000,
total liabilities of $5,291,000, and $20,885,000 in total
stockholders' equity.

The Company said, "Our ability to continue as a going concern is
dependent upon obtaining the necessary financing to complete
further exploration and development activities and generate
profitable operations from our oil and natural gas interests in the
future.  Our current operations are dependent upon the adequacy of
our current assets to meet our current expenditure requirements and
the accuracy of management's estimates of those requirements.
Should those estimates be materially incorrect, our ability to
continue as a going concern will be impaired.  Our financial
statements for the three months ended March 31, 2020 have been
prepared on a going concern basis, which contemplates the
realization of assets and the settlement of liabilities and
commitments in the normal course of business.  We have incurred a
history of operating losses and negative cash flows from
operations.  Therefore, there is substantial doubt about our
ability to continue as a going concern."

A copy of the Form 10-Q is available at:

                       https://is.gd/7nyOZv

Zion Oil & Gas, Inc. operates as an oil and gas exploration company
in Israel. It holds a petroleum exploration license onshore Israel,
the Megiddo-Jezreel License comprising an area of approximately
99,000 acres. The company was founded in 2000 and is headquartered
in Dallas, Texas.



[^] BOOK REVIEW: Bankruptcy and Secured Lending in Cyberspace
-------------------------------------------------------------
Author: Warren E. Agin
Publisher: Bowne Publishing Co.
List price: $225.00
Review by Gail Owens Hoelscher

Red Hat Inc. finds itself with a high of 151 5/8 and low of 20 over
the last 12 months! Microstrategy Inc. has roller-coasted from a
high of 333 to a low of 7 over the same period! Just when the IPO
boom is imploding and high-technology companies are running out of
cash, Warren Agin comes out with a guide to the legal issues of the
cyberage.

The word "cyberspace" did not appear in the Merriam-Webster
Dictionary until 1986, defined as "the on-line world of computer
networks." The word "Internet" showed up that year as well, as "an
electronic communications network that connects computer networks
and organizational computer facilities around the world."

Cyberspace has been leading a kaleidoscopic parade ever since, with
the legal profession striding smartly in rhythm. There is no
definition for the word "cyberassets" in the current
Merriam-Webster. Fortunately, Bankruptcy and Secured Lending in
Cyberspace tells us what cyberassets are and lays out in meticulous
detail how to address them, not only for troubled technology
companies, but for all companies with websites and domain names.
Cyberassets are primarily websites and domain names, but also
include technology contracts and licenses. There are four types of
assets embodied in a website: content, hardware, the Internet
connection, and software. The website's content is its fundamental
asset and may include databases, text, pictures, and video and
sound clips. The value of a website depends largely on the traffic
it generates.

A domain name provides the mechanism to reach the information
provided by a company on its website, or find the products or
services the company is selling over the Internet. Examples are
Amazon.com, bankrupt.com, and "swiggartagin.com." Determining the
value of a domain name is comparable to valuing trademark rights.
Domain names can come at a high price! Compaq Computer Corp. paid
Alta Vista Technology Inc. more than $3 million for "Altavista.com"
when it developed its AltaVista search engine.

The subject matter covered in this book falls into three groups:
the Internet's effect on the practice of bankruptcy law; the ways
substantive bankruptcy law handles the impact of cyberspace on
basic concepts and procedures; and issues related to cyberassets as
secured lending collateral.

The book includes point-by-point treatment of the effect of
cyberassets on venue and jurisdiction in bankruptcy proceedings;
electronic filing and access to official records and pleadings in
bankruptcy cases; using the Internet for communications and
noticing in bankruptcy cases; administration of bankruptcy estates
with cyberassets; selling bankruptcy estate assets over the
Internet; trading in bankruptcy claims over the Internet; and
technology contracts and licenses under the bankruptcy codes. The
chapters on secured lending detail technology escrow agreements for
cyberassets; obtaining and perfecting security interests for
cyberassets; enforcing rights against collateral for cyberassets;
and bankruptcy concerns for the secured lender with regard to
cyberassets.

The book concludes with chapters on Y2K and bankruptcy; revisions
in the Uniform Commercial Code in the electronic age; and a
compendium of bankruptcy and secured lending resources on the
Internet. The appendix consists of a comprehensive set of forms for
cyberspace-related bankruptcy issues and cyberasset lending
transactions. The forms include bankruptcy orders authorizing a
domain name sale; forms for electronic filing of documents;
bankruptcy motions related to domain names; and security agreements
for Web sites.

Bankruptcy and Secured Lending in Cyberspace is a well-written,
succinct, and comprehensive reference for lending against
cyberassets and treating cyberassets in bankruptcy cases.



                            *********

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Troubled Company Reporter is a daily newsletter co-published
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Copyright 2020.  All rights reserved.  ISSN: 1520-9474.

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