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

              Tuesday, August 11, 2020, Vol. 24, No. 223

                            Headlines

1A SMART: S&P Assigns 'B' Long-Term ICR; Outlook Stable
24 HOUR FITNESS: Court Okays Rent Deferral
ABC ASSEMBLY: Files for Chapter 7 Bankruptcy in Houston
AEPC GROUP: Hires C.Y.G. Financial Advisory as Investment Banker
ALCHEMY COPYRIGHTS: S&P Lowers First-Lien Term Loan Rating to 'B+'

ALEC TRANSPORT: Seeks Chapter 7 Liquidation
ALLENTOWN SCHOOL: S&P Cuts GO Debt Rating to BB+; Outlook Negative
ALLEY RANCHES: Files for Chapter 12 Bankruptcy
ALPHATEC HOLDINGS: Incurs $15.8 Million Net Loss in 2nd Quarter
AMERICAN CROSS-DOCK: Files for Chapter 7 Bankruptcy in Houston

APPLE RECOVERY: Files for Chapter 7 Bankruptcy
APPLIED DNA: Incurs $3.29 Million Net Loss in Third Quarter
AQGEN ASCENSUS: S&P Rates New First-Lien Term Loan 'B-'
ASPLUNDH TREE: Moody's Assigns Ba1 CFR, Outlook Stable
BAP PROPERTIES: Gets Court Approval to Tap St. James Law as Counsel

BAP PROPERTIES: Seeks Approval to Hire Real Estate Broker
BERKELEY PROPERTIES: Taps Cushman & Wakefield as Real Estate Broker
BERNOSKY CONSTRUCTION: Files for Chapter 7 Bankruptcy in Houston
BOUNCE FOR FUN: Texas Entertainment Buying Customer List for $3K
BRIGGS & STRATTON: Seeks to Hire 'Ordinary Course' Professionals

BUENA VISTA HEALTH: Files for Chapter 7 Bankruptcy in Houston
CAPITAL ASSET: Hires Mr. Lefoldt, Jr. of Lefoldt & Co. as CRO
CARVER BANCORP: Incurs $5.4 Million Net Loss in Fiscal 2020
CEDAR HAVEN: Buyer Intends to Nix Deal
CENTURY ALUMINUM: Incurs $26.9 Million Net Loss in Second Quarter

CENTURYLINK INC: Moody's Rates New $840MM Unsec. Notes 'Ba3'
CHESAPEAKE ENERGY: Risks & Hope Brought by Ch. 11 Restructuring
CHISHOLM OIL: Unsecureds to Recover 0.0% or 0.5% in Joint Plan
CORT & MEDAS: Sets Bidding Procedures for Brooklyn Properties
CRAWFORD STUDIOS: Files for Chapter 7 Bankruptcy in Houston

CSL INVESTMENTS: Files for Chapter 7 Bankruptcy in Houston
DANA INC: S&P Affirms 'BB' ICR; Ratings Off Watch Negative
DELUXE EXPRESS: Files for Chapter 11 Bankruptcy Protection
DIOCESE OF BUFFALO: Seeks Approval to Tap Insurance Archeologist
DOUBLE R&R: Files for Chapter 7 Bankruptcy in Houston

ELANCO ANIMAL: S&P Lowers ICR to 'BB' After Bayer Acquisition
ENGINEERED PROPULSION: Hires Steinhilber Swanson as Counsel
EVOKE PHARMA: Incurs $7 Million Net Loss in Second Quarter
FARADAY FUTURE: Founder Completes the Chapter 11 Restructuring Plan
FIESTA EVENTS: Files for Chapter 7 Bankruptcy in Houston

FOODFIRST GLOBAL: Seeks Case Dismissal After Sale
FREEDOM OIL: Seeks Approval to Hire Opportune LLP as Accountant
FRONTIER COMMUNICATIONS: Aug. 11 Plan Confirmation Hearing Set
FRONTIER COMMUNICATIONS: Stone Buying Middletown Property for $1.2M
GEORGIA DEER: $110K Sale of Assets to Atlas Equipment Approved

GIGA-TRONICS INC: Posts $75K Net Income in First Quarter
GILMAN'S CLEANERS: Seeks Approval to Tap Genova & Malin as Counsel
GLOBALLOGIC HOLDINGS: S&P Lowers ICR to 'B'; Outlook Stable
GV SMILES: Gets Court Approval to Tap Joyce W. Lindauer as Counsel
HARTSHORNE MINING: Files Proposed Asset Sale Agreement

HERITAGE HOTEL: Aug. 24 Auction of Substantially All Assets Set
HOPEDALE MINING: Gets Approval to Hire Cambio Group as CRO Provider
HOPEDALE MINING: Gets Approval to Tap Frost Brown Todd as Counsel
HOPEDALE MINING: Gets Court Approval to Hire Sale Advisor
HOPEDALE MINING: Hires FTI Consulting as Consultant

HOWARD HUGHES: S&P Rates New $750MM Senior Unsecured Notes 'BB-'
HUA WEI INC: Files for Chapter 7 Bankruptcy in Houston
INNODRILL LLC: Files for Chapter 7 Bankruptcy in Houston
ION GEOPHYSICAL: Incurs $5.17 Million Net Loss in Second Quarter
J.C. PENNEY: Closes Bay Shore, NY Location

K & L TRAILER: Files for Chapter 11 Bankruptcy
KADMON HOLDINGS: Posts $27.7 Million Net Loss in Second Quarter
KHAN REAL: Taps Patten Peterman as Legal Counsel
KNOW LABS: Incurs $2.90 Million Net Loss in Third Quarter
KOPIN CORPORATION: Incurs $1.14 Million Net Loss in Second Quarter

LAM ATELIER: Files for Chapter 7 Bankruptcy in Houston
LARRY FREDERICK: Son Buying Martinsburg Assets for $2.6 Million
LAURA'S SHOPPE: Gets Initial CCAA Stay Order
LEVEL 3 FINANCING: Fitch Rates $840MM Sr. Unsecured Notes 'BB'
LIBBEY GLASS: Wins Final Court Bankruptcy Loan Approval

LORI EARLEY: Files for Chapter 7 Bankruptcy in Houston
LSC COMMUNICATIONS: Committee Hires Cushman & Wakefield as Appraise
LUCKY BRAND: SPARC Is Lead Bidder in Bankruptcy Auction
MARTONE AUTO: Trustee Hires David Dinoso as Special Counsel
MAX FINE FURNITURE: Aug. 19 Plan & Disclosure Hearing Set

MICHELLE GERMINARIO: Florans Buying Toms River Property for $825K
MIDAS INTERMEDIATE II: Moody's Cuts PDR to Caa2-PD, Outlook Neg.
MIKE AND JD ALLEY FARMS: Files for Chapter 12 Bankruptcy
MILANO HOLDING: S&P Assigns 'B' ICR; Outlook Stable
NAUTIC GROUP: Files for Chapter 7 Bankruptcy in Houston

NAVISTAR INT'L: Fitch Rates $225MM Series 2020 Bonds 'CCC'
NEVER SLIP: S&P Raises ICR to CCC+ on Completion of Restructuring
NEXTERA ENERGY: Fights for the $60M Fee from EFH
NOVABAY PHARMACEUTICALS: Posts $4.5 Million Net Loss in Q2
NUZEE INC: Incurs $2.54 Million Net Loss in Third Quarter

OLD TIME POTTERY: Closes Rockford, Ill. Store
OUTRIGHT AVIONICS: Files for Chapter 7 Bankruptcy in Houston
OWENS & MINOR: S&P Alters Outlook to Stable, Affirms 'B-' ICR
PIER 1 IMPORTS: 2200 Heritage Buying Mansfield Assets for $18M
POP GOURMET: Hires Cairncross & Hempelmann as Counsel

QUOTIENT LIMITED: Incurs $25.4 Million Net Loss in First Quarter
R.W. LYNCH: Files for Chapter 7 Bankruptcy in Phoenix
RAYNOR SHINE: Seeks to Tap Moss Krusick as Accountant
RAYONIER ADVANCED: Posts $12.9 Million Net Loss in Second Quarter
RED ROSE: Committee Gets Approval to Hire Schwartz Law as Counsel

RED ROSE: Committee Gets Approval to Tap Brown Rudnick as Counsel
RED ROSE: Committee Hires GlassRatner as Financial Advisor
REGALIA UNITS: Seeks to Tap Pordes Residential as Real Estate Agent
ROBERT ALLEN: Land Quest Buying 2 Pocatello Townsite Lots for $74K
S & S 126 INVESTMENT: Seeks to Hire Matthew Abbasi as Counsel

S&S CONTRACTING: Files for Chapter 7 Bankruptcy
SAHBRA FARMS: Seeks to Tap Kenneth J. Fisher as Litigation Counsel
SEARS HOLDINGS: Hackensack Sears Poised To Be Next in NJ to Shutter
SEARS HOLDINGS: Plans to Sell Its Home Improvement Business
SHALE FARM: Aug. 20 Hearing on Lee Road Property Set

SHALE FARMS: Seeks to Hire Moore and Brooks Counsel
SHALE FARMS: Seeks to Hire RE/MAX Real Estate as Broker
SINTX TECHNOLOGIES: Prices $8.2 Million Common Stock Offering
SMWS GROUP: Trustee Seeks to Hire Gary A. Rosen as Legal Counsel
STAGE STORES: Gordmans Reopens in Penn Yan, NY to Liquidate

STAGE STORES: Unsecured Creditors to Have Less Than 6% Recovery
STANDARD INDUSTRIES: Moody's Rates New Unsec. Notes Due 2031 'Ba2'
STEVEN BOYUM: Public Sale of Personal Property Approved
SUMMIT MIDSTREAM: S&P Raises ICR to 'CCC'; Outlook Negative
SURGICAL SPECIALISTS: Taps Julianne Frank as Legal Counsel

SWOLE SISTERS: Files for Chapter 7 Bankruptcy in Houston
TA ESTATE: August 11 Plan Confirmation Hearing Set
TAILORED BRANDS: Wins Approval of First-Day Motions
THE RIDE HOUSE: Files for Chapter 7 Bankruptcy
TITAN INTERNATIONAL: Posts $5 Million Net Loss in Second Quarter

TNT ASSEMBLY: Files for Chapter 7 Bankruptcy in Houston
TOMMY'S APPLIANCE: Files for Chapter 7 Bankruptcy in Houston
TRANSDIGM INC: Moody's Alters Outlook on B1 CFR to Negative
TUTOR PERINI: S&P Affirms 'B' ICR; Outlook Positive
V.S. INVESTMENT: Kranzle Buying Seattle Property for $1 Million

VALLEY ECONOMIC: Pestamos Buying CALP Loan Portfolio for $121K
VALLEY ECONOMIC: Pestamos Buying Loan Portfolio for $970K
VENTURA CONTRACTING: Files for Chapter 7 Bankruptcy
VISION GAS: Files for Chapter 7 Bankruptcy in Houston
VISION OPERATING: Files for Chapter 7 Bankruptcy in Houston

VISION RESOURCES: Files for Chapter 7 Bankruptcy in Houston
W&T OFFSHORE: Incurs $5.90 Million Net Loss in Second Quarter
WALKER INVESTMENT: Seeks Court Approval to Hire Real Estate Agents
[*] Landlord's Ability to Draw on L/C May Turn on Notice
[*] Stores That Are Bankrupt But Still Operational

[^] Large Companies with Insolvent Balance Sheet

                            *********

1A SMART: S&P Assigns 'B' Long-Term ICR; Outlook Stable
-------------------------------------------------------
S&P Global Ratings assigned its 'B' long-term issuer credit rating
to the parent company, Global IID Parent LLC, and its main
operating entity, Dallas, TX based alcohol testing device provider
1A Smart Start LLC plans, which it considers a core subsidiary. S&P
also assigned its 'B' first-lien issue-level rating and '3'
recovery rating to the company's secured debt.

While the ratings on Smart Start are constrained by the company's
small operating scale and limited scope offsetting factors include
a solid margin profile and leading market position. In the United
States, Smart Start is a major player in the niche market for
ignition interlock devices (IID), where it maintains leading market
position followed by its closest competitior Intoxalock. Primarily
all of the company's revenues come from providing IIDs (94.4% of
devices in service in the last twelve month period ending June
2020) to customers across the U.S., which accounts for 81.5% of
revenue. The remainder of its revenues come from Canada (12.5%),
and Australia and Europe (6%). In the domestic market, Smart
Start's 25 year-plus history with key stakeholders (including
safety advocates, regulators, lawyers, judges, courts, and
nonprofits) provides a strong referral base for new customers. In
addition, years of acquired regulatory expertise and a scalable
operating platform provide some barriers to entry and S&P views the
non-cyclical, recession resistant nature of product use as
favorable. While the revenue base appears stable and recurring for
the duration of customer contracts life, S&P notes the short-term
nature of equipment use agreements, which generally range from 6-18
months (which may vary by a number of factors including the
severity of the driving offense). The company is an approved vendor
in 47 U.S. States, and primarily operates in competitive markets
where offenders are able to select from approved providers.
Additionally, in some counties and states within the U.S. and
internationally, the Company maintains good mix of sole and dual
source contracts (where the jurisdiction is either exclusive to
Smart Start or shared with another provider), with those government
contracts ranging from 3-7 years in length. The percentage of
revenue generated under government contracts has been increasing
but, remains a modest proportion of total revenues. The company
also benefits from Smart Start's good equipment useful life and
flexible cost structure which support solid profitability (S&P
adjusted EBITDA margins were 29.4% in 2019), a key factor as S&P
believes the company's capacity to raise prices is somewhat
constrained by competitive factors and customers' ability to afford
the service. Generally, one-time installation costs range from
$70-$150 and monthly service costs are from $60-$100, a costly
expense for a customer base estimated to have a median income under
$50K.

Despite COVID-19-related declines in the U.S, S&P expects earnings
to be upheld by cost savings efforts and growth in higher-margin
international markets. While pandemic-related reductions in auto
traffic, combined with court closures will interrupt new device
installations in the United States this year, Smart Start is poised
to benefit from growth in Canada and Australia due to recently
passed legislation that supports an increasing need for IIDs by
imposing stricter regulations on offenders. To help absorb some of
the near-term volatility and provide financial flexibility, Smart
Start enacted various cost-saving initiatives, allowing the company
to preserve its margins (and leverage) in light of revenue
declines. As a result of these efforts and new business in
profitable global markets, S&P forecasts adjusted margins to expand
to the mid 30% range in 2020, supporting a decline in adjusted
leverage to the mid 6x area (from 7.5x in 2019). In 2021, S&P
expects further improvement to the low-to-mid 6x range as Smart
Start sustains its margins despite domestic revenue softness.

S&P expects free operating cash flow to turn positive in 2020 as
capital spending declines from 2018 and 2019 peaks though the
rating agency expects ongoing investment needs will keep capital
spending needs above $10 million annually. In 2018 and 2019, Smart
Start burned $5.5 million and $8.2 million of reported free cash
flow, respectively as it ramped investment spending to meet
requirements for new market entry into Quebec (and Australia, to a
lesser extent). With these markets now operational, S&P expects
capital expenditure (capex) to gradually decline and support
S&P-adjusted free cash flow of approximately $13 million in 2020
and $20 million in 2021. The rating agency expects continued
execution of the growth strategy and compliance with evolving
regulatory requirements and marketplace conditions will keep capex
above $10 million annually.

"The stable outlook on Smart Start reflects our expectation that
new installations in higher-margin international regions and
actioned cost-optimization initiatives to offset domestic
COVID-19-related softness will enable Smart Start to improve -- and
sustain --S&P adjusted leverage to the low-to-mid-6x area and
EBITDA margin to the mid 30% range by 2021," S&P said.

"The outlook also reflects our expectation that growth related
capex requirements will decline in 2020, supporting positive free
operating cash flow generation and an improvement in free operating
cash flow to debt to the mid-single digit range," the rating agency
said.

Over the next twelve months, S&P could lower its rating should
Smart Start encounter weak operating performance, pricing pressure,
elevated investment needs, or a more aggressive financial policy
(including debt funded dividends and acquisitions) resulting in:

-- An inability to reduce adjusted leverage below 6.5x;
-- Sustained negative free operating cash flow; or
-- Increasing reliance on the revolving credit facility and
shrinking overall liquidity.

While unlikely over the next 12 months, S&P could raise the rating
if the company significantly improves its scale while diversifying
its revenue mix, expanding into new regions, improving its credit
measures, and demonstrating strong operating performance.


24 HOUR FITNESS: Court Okays Rent Deferral
------------------------------------------
Law360 reports that a Delaware judge on July 1, 2020, gave her nod
for gym chain 24 Hour Fitness Worldwide Inc. to defer an estimated
roughly $65 million in rent payments, despite strong objection from
multiple landlords, as it moves forward with Chapter 11 plans to
restructure its $1.4 billion in debt.

During a hearing held virtually, U.S. Bankruptcy Judge Karen B.
Owens said she empathized with the landlords' plight, as rent has
gone unpaid for months amid closures caused by the COVID-19
outbreak, but agreed with the debtors that they must be cautious
moving forward.

                     About 24 Hour Fitness

24 Hour Fitness Worldwide, Inc., owns and operates fitness centers
in the United States.  As of March 31, 2017, the company operated
426 clubs serving approximately 3.6 million members across 13
states and 23 markets, predominantly in California, Texas and
Colorado.  For the 12 months ended March 31, 2017, the company
generated total revenue of about $1.4 billion. In May 2014, 24 Hour
Fitness was acquired by affiliates of AEA Investors LP, Fitness
Capital Partners and Ontario Teachers' Pension Plan for a total
purchase price of approximately $1.8 billion.

24 Hour Fitness Worldwide and its affiliates sought Chapter 11
protection (Bankr. D. Del. Lead Case No. 20-11558) on June 15,
2020.  24 Hour Fitness was estimated to have $1 billion to $10
billion in assets and liabilities as of the bankruptcy filing.
The Hon. Karen B. Owens is the case judge.

The Debtors tapped Weil, Gotshal & Manges, LLP as lead bankruptcy
counsel; Pachulski Stang Ziehl & Jones, LLP as local counsel; FTI
Consulting, Inc. as financial advisor; Lazard Freres & Co. LLC as
investment banker; and Prime Clerk, LLC as claims agent.


ABC ASSEMBLY: Files for Chapter 7 Bankruptcy in Houston
-------------------------------------------------------
The Houston Business Journal reports that ABC Assembly LLC filed
for voluntary Chapter 7 bankruptcy protection April 3, 2020, in the
Southern District of Texas. The debtor listed an address of 7230
Empire Central Drive, Houston, and is represented in court by
attorney Erin E. Jones. ABC Assembly LLC listed assets ranging from
$0 to $50,000 and debts ranging from $0 to $50,000. The filing did
not identify a largest creditor.


AEPC GROUP: Hires C.Y.G. Financial Advisory as Investment Banker
----------------------------------------------------------------
AEPC Group, LLC seeks approval from the U.S. Bankruptcy Court for
the Central District of California to employ investment banking
firm C.Y.G. Financial Advisory Services to conduct a potential sale
of its assets.

The firm's services will include identifying potential investors,
preparing market and competitor analysis, distributing marketing
package, reviewing and soliciting bids, and assisting Debtor in the
selection of a "stalking horse" bidder.

Gregg Yorkison, a partner at C.Y.G., will be primarily responsible
for the marketing process.

The proposed compensation for the firm includes:

     a. $5,000 on court approval of C.Y.G.'s employment;
     b. $2,500 on Sept. 15;
     c. $2,500 on Oct. 15; and
     d. A "success fee" to be paid as follows:
           i. $75,000 for a sale price of up to $1 million; or
           ii. $80,000 for a sale price of $1 million to $1.5
million; or
           iii. $100,000 for a sale price of $1.5 million to $2
million; or
           iv. 5 percent of sale price of $2 million and above.

Mr. Yorkison disclosed in court filings that his firm is a
"disinterested person" within the meaning of Bankruptcy Code
Section 101(14).

The firm can be reached through:
   
     Gregg Yorkison
     C.Y.G. Financial Advisory Services
     1721 Benedict Canyon
     Beverly Hill, CA 90210
     Telephone: (310) 463-3378
     Email: gregg@clareyorkgroup.com

                         About AEPC Group

AEPC Group, LLC is an Irvine, Calif.-based full-service,
multi-discipline architectural, engineering and construction
services firm with professional, technical and support personnel.

AEPC Group sought Chapter 11 protection (Bankr. C.D. Cal. Case No.
20-11611) on June 4, 2020.  AEPC Group President Ed Ghalib signed
the petition.  At the time of the filing, Debtor disclosed total
assets of $953,625 and total liabilities of $1,327,056.

Judge Theodor Albert oversees the case.  Debtor has tapped Jeffrey
S. Shinbrot, APLC as its legal counsel and C.Y.G. Financial
Advisory Services as its investment banker.


ALCHEMY COPYRIGHTS: S&P Lowers First-Lien Term Loan Rating to 'B+'
------------------------------------------------------------------
S&P Global Ratings lowered its issue-level rating on Alchemy
Copyrights LLC's (Concord's) first-lien term loan facility to 'B+'
from 'BB-' and revised the recovery rating to '3' from '2' as the
company upsized its proposed term loan facility to $600 million
from $400 million. The company will use the additional proceeds to
pay its existing debt with less drawn on the new revolving facility
at close. S&P views this transaction as leverage neutral, and its
'B+' issuer credit rating is unchanged. The outlook is stable.

S&P's issuer credit rating on Concord reflects the tailwinds in the
music industry driving growth for the company, primarily through
digital streaming and its large portfolio of music copyrights,
representing about 4.7% of the U.S. music publishing market and
about 1.9% of the U.S. recordings market (both as of 2019). S&P's
assessment also incorporates the company's smaller scale in terms
of geographic footprint and revenue base compared with larger
peers, including Warner Music Group Corp. S&P expects Concord will
continue to pursue debt-financed acquisitions while keeping
adjusted leverage below 5.0x on a sustained basis. S&P also
forecasts any deleveraging to come from EBITDA growth instead of
debt repayment as it expect the company to prioritize free cash
flow toward acquisitions and internal investments.

ISSUE RATINGS – RECOVERY ANALYSIS

Issue Ratings--Recovery Analysis

Key analytical factors

-- Physical sales decline significantly due to economic and
structural pressures coupled with lower digital music sales.

-- Weaker-than-expected growth trajectory of access-based
subscription or ad-supported streaming services.

-- Intense competition for talent and catalogs, coupled with
inability to renew expiring rights, affecting market share and
favorable licensing deals with streaming services.

-- S&P's default scenario assumes that Concord would reorganize,
given its large catalog of recorded and publishing copyrights to a
large music library.

-- S&P valued the enterprise using an EBITDA multiple of 6.5x and
a run-rate EBITDA decline of approximately 35% from the default
year of 2024.

Simulated default assumptions

-- Simulated year of default: 2024
-- EBITDA at emergence: $106 million
-- EBITDA multiple: 6.5x
-- 85% of the revolver is drawn at default.

Simplified waterfall:

-- Net enterprise value (after 5% administrative costs): $653
million

-- Collateral value available to secured creditors: $585 million

-- Secured first-lien debt: $995 million

-- Recovery expectations: 50%-70%; rounded estimate: 65%

All debt amounts include six months of prepetition interest.


ALEC TRANSPORT: Seeks Chapter 7 Liquidation
-------------------------------------------
Alec Transport LLC filed a Chapter 7 petition on June 16, 2020
(Bankr. W.D. Tex. Case No. 20-51137).  

According to San Antonio Business Journal, the Debtor listed an
address of 609 Enterprise, Laredo, and is represented in court by
attorney Ruben E. Vasquez.  Alec Transport listed assets debts of
$172,581.  The filing's largest creditor was listed as Santander
Bank NA with an outstanding claim of $120,864.

Alec Transport is a licensed and bonded freight shipping and
trucking company running freight hauling business from Laredo,
Texas.

The Debtor's counsel:

        Ruben E. Vasquez
        The Vasquez Law Firm
        Tel: 210-229-2067
        E-mail: clairecantu@thevasquezlawfirm.com

The Chapter 7 trustee:

        Johnny W Thomas
        St Paul Square 1153 E Commerce
        San Antonio, TX 78205
        E-mail: johnnywthomas.trusteblogs.com



ALLENTOWN SCHOOL: S&P Cuts GO Debt Rating to BB+; Outlook Negative
------------------------------------------------------------------
S&P Global Ratings lowered its underlying rating to 'BB+' from
'BBB-' on Allentown School District, Pa.'s existing general
obligation (GO) debt. The outlook remains negative.

"The rating action reflects our view that Allentown School
District's financial operations remain highly pressured, with an
ongoing structural imbalance and continued liquidity pressures,
highlighted by increasing annual cash-flow borrowings, advances on
state aid, and delays in vendor payments," said S&P Global Ratings
credit analyst John Sauter. Results for both fiscal year 2019
(audited) and 2020 (unaudited) were better than projections near
this time last year, and both the 2020 result and 2021 approved
budget indicate the district has made some progress cutting into
the deficit. However, cash and fund balance continue to decline,
and will do so until the deficit is resolved. Without delaying
vendor payments and $10 million in deficit financing (issued in
fiscal 2019), the cash and fund balance position would both be
negative.

While the extent and duration of fiscal pressures posed by the
COVID-19 pandemic and the ensuing recession remain unknown, S&P
does not anticipate the district's financial trajectory in the
immediate future will be jeopardized. This is due in part to the
commonwealth holding state aid funding flat for fiscal 2021 and it
allocating almost $10 million in CARES Act funding for the
district. However, with an already precarious cash and reserve
position, what S&P considers to be very limited revenue and
expenditure flexibility, and the lack of a clear plan to bring the
budget back to consistent balance, the rating agency feels that
adverse economic or other external conditions could weaken the
district's capacity to meet its obligations. In S&P's view, risks
include a potential for weaker property and earned income tax
collections, reduced state aid funding if the state were to cut aid
or pension subsidies in the future, and shifting enrollment
patterns.

The debt is secured by the district's full-faith-and-credit-GO
pledge. All debt (except the series 2018 and 2014A bonds) is
subject to the Pennsylvania Act 1 of 2006 limitation, which
restricts a district's ability to raise the tax levy higher than a
certain index. S&P rates the limited-tax GO debt at the same level
as unlimited-tax GO debt, reflecting the rating agency's
expectation that it will use all resources available to service
debt.

S&P's rating action incorporates its view regarding the health and
safety risks posed by the COVID-19 pandemic, and specifically, how
stay-at-home orders and an extended economic slowdown could weaken
the district's operations. In S&P's view, the district's enrollment
trends represent an increased social risk, as it is challenged by
competing with charter and virtual schools. If the district itself
has to operate virtually for an extended period, this competition
and the potential for enrollment loss could increase. S&P also
feels the turnover in business management office and history of
weak internal financial controls pose a governance risk higher than
most in the sector. S&P does not consider there to be increased
environmental risks.


ALLEY RANCHES: Files for Chapter 12 Bankruptcy
----------------------------------------------
The Portland Business Journal reports that Alley Ranches LLC filed
for voluntary Chapter 12 bankruptcy protection June 19, 2020, in
the District of Oregon. Represented in court by attorney
Christopher N. Coyle, the debtor listed an address of 8925 SW Green
Drive, Culver. Alley Ranches LLC listed assets ranging from
$1,000,001 to $10,000,000 and debts ranging from $1,000,001 to
$10,000,000. The filing did not identify a largest creditor.




ALPHATEC HOLDINGS: Incurs $15.8 Million Net Loss in 2nd Quarter
---------------------------------------------------------------
Alphatec Holdings, Inc. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q, disclosing a net loss
of $15.80 million on $29.63 million of total revenue for the three
months ended June 30, 2020, compared to a net loss of $12.44
million on $27.32 million of total revenue for the three months
ended June 30, 2019.

For the six months ended June 30, 2020, the Company reported a net
loss of $36.53 million on $59.74 million of total revenue compared
to a net loss of $25.40 million on $51.87 million of total revenue
for the same period in 2019.

As of June 30, 2020, the Company had $161.13 million in total
assets, $42.79 million in total current liabilities, $66.07 million
in long-term debt, $191,000 in operating lease liability, $9.65
million in other long-term liabilities, $23.60 million in
redeemable preferred stock, and $18.82 million in total
stockholders' equity.

Cash and cash equivalents at June 30, 2020 were $31.2 million, with
an additional $25 million available under the credit facility with
Squadron Capital.  Current and long-term debt at face value as of
June 30, 2020 includes $75 million in term debt under the Squadron
facility.  During the second quarter of 2020, the Company retired
its revolving credit facility with MidCap Funding.

"I am proud of the way our team continues to methodically execute
the plan," said Pat Miles, chairman and chief executive officer.
"Three years ago, we committed to creating clinical distinction,
compelling surgeon adoption and revitalizing our sales channel. We
described a time when unmatched procedural innovation would attract
an increasingly influential surgeon base and a more
professionalized salesforce, which would lead to increased case
complexity, more products per procedure, and improved revenue per
surgery.  We're beginning to see this vision reflected in our
financial performance.  While other companies commit to advertising
campaigns, our commitment is to improving spine care. We are just
getting started.  We expect to see continued strong interest and
enthusiasm for the 8 to 10 new solutions we will deliver in the
second half of 2020.  We could not be more viscerally and
personally engaged in our mission and our ability to continue to
drive industry-leading growth.  We know our best is yet to come."

As a result of hospitals globally postponing elective procedures to
preserve capacity for COVID-19 patients, ATEC suspended its
previously announced 2020 revenue guidance on April 8, 2020. While
recovery of surgical volumes has been more robust than initially
anticipated, the Company continues to have limited visibility into
any continuing or future impact of the global pandemic.

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

                      https://is.gd/Egm4QY

                     About Alphatec Holdings

Alphatec Holdings, Inc. (ATEC) (www.atecspine.com), through its
wholly-owned subsidiaries, Alphatec Spine, Inc. and SafeOp
Surgical, Inc., is a medical device company dedicated to
revolutionizing the approach to spine surgery through clinical
distinction.  ATEC architects and commercializes approach-based
technology that integrates seamlessly with the SafeOp Neural
InformatiX System to provide real-time, objective nerve information
that can enhance the safety and reproducibility of spine surgery.

Alphatec reported a net loss of $57 million for the year ended Dec.
31, 2019, compared to a net loss of $28.97 million for the year
ended Dec. 31, 2018.  As of March 31, 2020, the Company had $153.84
million in total assets, $38.24 million in total current
liabilities, $53.03 million in long-term debt, $559,000 in
operating lease liability, $10.97 million in other long-term
liabilities, $23.60 million in redeemable preferred stock, and
$27.43 million in total stockholders' equity.


AMERICAN CROSS-DOCK: Files for Chapter 7 Bankruptcy in Houston
--------------------------------------------------------------
The Houston Business Journal reports that American Cross-Dock and
Storage LLC filed for voluntary Chapter 7 bankruptcy protection
April 21, 2020, in the Southern District of Texas. The debtor
listed an address of 9701 New Decade Drive, Pasadena, and is
represented in court by attorney Thomas A. Howley. American
Cross-Dock and Storage LLC listed assets up to $413,549 and debts
up to $1,383,397. The filing's largest creditor was listed as
Breesie Investments with an outstanding claim of $800,000.


APPLE RECOVERY: Files for Chapter 7 Bankruptcy
----------------------------------------------
The Dallas Business Journal reports that Apple Recovery Healthcare
Inc. filed for voluntary Chapter 7 bankruptcy protection June 18,
2020, in the Eastern District of Texas. The debtor listed an
address of P.O. Box 912332, Sherman, and is represented in court by
attorney Richard A. Pelley. Apple Recovery Healthcare Inc. listed
assets up to $0 and debts up to $205,913. The filing's largest
creditor was listed as Internal Revenue Service with an outstanding
claim of $70,000.


APPLIED DNA: Incurs $3.29 Million Net Loss in Third Quarter
-----------------------------------------------------------
Applied DNA Sciences, Inc. filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q, disclosing a net loss
of $3.29 million on $431,516 of total revenues for the three months
ended June 30, 2020, compared to a net loss of $1.48 million on
$2.05 million of total revenues for the three months ended June 30,
2019.

For the nine months ended June 30, 2020, the Company reported a net
loss of $8.90 million on $1.62 million of total revenues compared
to a net loss of $7.40 million on $3.72 million of total revenues
for the same period during the prior year.

As of June 30, 2020, the Company had $13.97 million in total
assets, $5.20 million in total liabilities, and $8.78 million in
total equity.

"We continued during the quarter to position the Company to serve
the unmet and evolving needs for COVID-19 testing solutions and
vaccine development," said Dr. James A. Hayward, president and CEO
of Applied DNA Sciences.  "Upon the receipt of FDA Emergency Use
Authorization ("EUA") for our Linea COVID-19 diagnostic assay kit
(for use with nasopharyngeal (NP) swab and anterior nasal swab
(ANS) sample collections), we put into place the foundation of our
COVID-19 diagnostics business: we established the requisite supply
chains and inventory to support anticipated growth in assay kit
demand; we formed a clinical lab subsidiary (Applied DNA Clinical
Labs LLC) that, once certified by the State of New York, will offer
testing as a service ("TaaS") whose potential economics to us is
more favorable than that of standalone kit sales; and we applied
for amendments to our EUA to expand the addressable market for our
kits and improve customer testing turnaround time and throughput.
We are in the marketplace today with what we believe to be a highly
sensitive and purpose-designed platform for the high-throughput
workflows found at clinical diagnostic laboratories nationally.  We
are currently pursuing diagnostic kit contracts and, upon State
certification, commercial testing contracts."

Continued Dr. Hayward, "The U.S. is facing bottlenecks in testing
capacity with supply shortages and testing backlogs at laboratories
that, together with the spike in infection numbers in the southern
and western parts of the country, suggests greater and long-term
demand for testing.  We believe we are well-positioned to deliver
greater patient access to testing and increased market penetration
in the coming quarters.  The recent amendments to our EUA advance
our go-to-market strategy significantly: they greatly enhance our
opportunity for commercial kit sales by increasing the size of the
installed base of RT-PCR systems upon which our kit can run and
they enable the use of automated RNA extraction robotics at
third-party labs and at Applied DNA Clinical Labs LLC, when
licensed, to increase testing throughput.

"We have also recruited our first research sponsors who have funded
the development of pooling models for the testing of asymptomatic
patients (screening testing), which we will be presenting to FDA.
We believe that our ability to sample for the virus using the
less-invasive ANS will enhance compliance among students and
asymptomatic individuals who may require multiple rounds of
testing.  Several academic institutions are contemplating COVID-19
safety programs based upon the use of our diagnostic kit to enhance
the safety of students, faculty, and staff.  We have recruited both
internal and external sales infrastructures to drive demand for our
diagnostic kit."

Commenting on the development of the Company's vaccine candidates
co-developed with Takis S.R.L. and Evvivax S.R.L., Dr. Hayward
stated, "Tests on the linear DNA forms of our COVID-19 vaccine
candidates provoked seroconversion in mouse models that are
consistent with prior data from the plasmid forms of the vaccine
candidates by Takis Biotech.  Our results suggest that a low-dose
vaccine could be potentially effective in providing protection
while the T cell response suggests potential long-term persistence.
We believe our results in animal models echo the effectiveness
announced by some of the COVID-19 vaccines already in human trials.
We have attracted the attention of 'Big Pharma' and are presently
negotiating rights to novel delivery systems and funding for
sophisticated toxicology screens done in collaboration with our
partner Takis Biotech and their network of service partners."

With regard to the Company's non-biological business segment, Dr.
Hayward said, "Our supply chain security segment felt the full
brunt of COVID-19 in the fiscal third quarter that resulted in a
further weakening of demand for tagging and related services across
the global supply chain chains we serve.  We remain focused on
business-building in key industrial and regulated markets,
including textiles, cannabis, personal care, nutraceuticals, and
pharmaceuticals, ahead of the return of increased demand
patterns."

Concluded Dr. Hayward, "Looking ahead, we are focused on advancing
our COVID-19 diagnostic kit and TaaS market strategy and
progressing the development of the linear DNA forms of our vaccine
candidates.  To drive broader adoption of our kit by laboratories
and to increase TaaS opportunities, we plan additional EUA
amendments to further expand the base of RT-PCR systems relevant to
our kit and to secure the ability to conduct asymptomatic screening
testing, which we believe would confer onto us a potentially
significant commercial advantage in the marketplace.  We also await
New York State certification of Applied DNA Clinical Labs LLC that
would initiate commercial testing revenues.
  
"In the development of our vaccine candidates, we expect to launch
of toxicology screens once funding is secured followed by higher
animal studies before initiating human trials.  We are recruiting
industry partners to lead on the regulatory process and
distribution with Applied DNA serving as the sole-source
manufacturer globally.  With our linear DNATM manufacturing
platform, we are differentiated not only for our ability to
manufacture any linear DNA form of a COVID-19 vaccine at extremely
large scale, but also for our ability to react to any new variants
of the virus with unrivaled speed."

                   Liquidity and Capital Resources

The Company's liquidity needs consist of its working capital
requirements and research and development expenditure funding.  As
of June 30, 2020, the Company had working capital of $9,707,376.
For the nine month period ended June 30, 2020, the Company used
cash in operating activities of $8,159,954 consisting primarily of
its loss of $8,903,758 net with non-cash adjustments of $203,469 in
depreciation and amortization charges, $797,577 in stock-based
compensation expense, $19,195 in amortization of debt issuance
costs and $21,880 in bad debt expense.  Additionally, the Company
had a net decrease in operating assets of $302,239 and a net
decrease in operating liabilities of $600,556.  Cash provided by
financing activities was $18,852,116, which included net proceeds
from the November 2019 sale of Common Stock and warrants of
$10,639,728, net proceeds from the exercise of warrants of
$7,203,401, proceeds received from the PPP loan of $846,789 and the
repayment of secured convertible promissory notes of $107,802.

The Company has recurring net losses, which have resulted in an
accumulated deficit of $265,712,717 as of June 30, 2020.  At
June 30, 2020, the Company had cash and cash equivalents of
$10,924,968.

Historically the Company has financed its activities through the
sale of Common Stock and warrants.  Through June 30, 2020, the
Company has dedicated most of its financial resources to research
and development, including the development and validation of its
own technologies as well as, advancing its intellectual property,
and general and administrative activities.

Applied DNA said, "We expect to finance our operations primarily
through cash received from the November 2019 underwritten public
offering and the subsequent warrant exercises ... as well as
collection of our accounts receivable.  We estimate that we will
have sufficient cash and cash equivalents to fund operations for
the next twelve months from the date of filing of this quarterly
report.  Historically, we have financed our operations principally
from the sale of equity and equity-linked securities.

"We may require additional funds to complete the continued
development of our products, product manufacturing, and to fund
expected additional losses from operations until revenues are
sufficient to cover our operating expenses.  In addition, if we are
successful with any of our preclinical vaccine candidates, we would
require additional funds to complete their development.  If
revenues are not sufficient to cover our operating expenses, and if
we are not successful in obtaining the necessary additional
financing, we will most likely be forced to reduce operations."

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

                      https://is.gd/OgixTJ

                        About Applied DNA

Applied DNA -- http//www.adnas.com/ -- is a provider of molecular
technologies that enable supply chain security, anti-counterfeiting
and anti-theft technology, product genotyping, and pre-clinical
nucleic acid-based therapeutic drug candidates. Applied DNA makes
life real and safe by providing innovative, molecular-based
technology solutions and services that can help protect products,
brands, entire supply chains, and intellectual property of
companies, governments and consumers from theft, counterfeiting,
fraud and diversion.

Applied DNA reported a net loss of $8.63 million for the year ended
Sept. 30, 2019, compared to a net loss of $11.69 million for the
year ended Sept. 30, 2018.  As of March 31, 2020, the Company had
$11.33 million in total assets, $4.06 million in total liabilities,
and $7.27 million in total equity.


AQGEN ASCENSUS: S&P Rates New First-Lien Term Loan 'B-'
-------------------------------------------------------
S&P Global Ratings has assigned its 'B-' issue-level and '3'
recovery ratings to Dresher, Pa.-based AqGen Ascensus Inc.'s
proposed first-lien term loan. The '3' recovery rating reflects
S&P's expectation of meaningful (rounded estimate: 65%) recovery in
the event of a payment default.

The company, which is a record-keeper and administrator for
retirement, health, and government savings plans, intends to:

-- Extend its revolving credit facility maturity to August 2025
from December 2021;

-- Roll its outstanding revolver borrowings, existing nonfungible
incremental first-lien term loan, and first-lien term loan into a
new first-lien term loan due December 2026; and

-- Extend its second-lien term loan maturity to December 2027 from
December 2023.

"The issuer credit rating on the company remains 'B-', with a
stable outlook, reflecting our expectation for revenue and earnings
growth driven by acquisition contributions and industry tailwinds
in the U.S. retirement savings industry over the next 12 months. We
expect high pro forma adjusted debt to EBITDA of 10x in 2020,
declining to the low-8x area in 2021, and modest EBITDA-to-cash
interest coverage of 1.8x in 2020 and 2.2x by year-end 2021.
Despite modest free operating cash flow generation in 2020, full
availability of the revolving credit facility pro forma for the
refinancing supports our liquidity assessment," S&P said.

"We could lower our rating on Ascensus if it increases leverage
further, or if we expect persistent cash flow deficits to lead to
an unsustainable capital structure. This would likely result from
high integration costs or operational missteps that lead to poor
operating performance or high client attrition, a severe equity
market downturn, unfavorable regulatory changes that hinder the
company's growth prospects, or additional debt-financed shareholder
returns or large debt-funded acquisitions. Specifically, we would
lower the rating if cash interest coverage falls below 1.2x, cash
flow generation after debt service is persistently negative, or we
expect available liquidity to fall below $20 million," the rating
agency said.


ASPLUNDH TREE: Moody's Assigns Ba1 CFR, Outlook Stable
------------------------------------------------------
Moody's Investors Service assigned a first-time Ba1 Corporate
Family Rating and Ba1-PD Probability of Default Rating to Asplundh
Tree Expert, LLC, a leading provider of vegetation management
services and specialty construction and maintenance services for
utilities, railroads, and municipalities in the US, Canada,
Australia and New Zealand.

Moody's also assigned a Ba1 rating to Asplundh's proposed $750
million senior secured revolving credit facility expiring 2025 and
$2,000 million senior secured term loan due 2027. Proceeds from the
term loan, will be used to pay a $2.0 billion dividend distribution
to shareholders. The outlook is stable.

"Pro forma for the $2.0 billion dividend recapitalization, Asplundh
will maintain sufficient financial, operating and strategic
flexibility given its modest leverage, stable profitability and
defensive end markets," said Emile El Nems, a Moody's VP-Senior
Analyst. Pro forma for the transaction, Moody's expects debt
leverage by year end 2020 (inclusive of Moody's adjustments) to be
at 2.8x.

Assignments:

Issuer: Asplundh Tree Expert, LLC

Probability of Default Rating, Assigned Ba1-PD

Corporate Family Rating, Assigned Ba1

Senior Secured Revolving Credit Facility, Assigned Ba1 (LGD3)

Senior Secured Term Loan, Assigned Ba1 (LGD3)

Outlook Actions:

Issuer: Asplundh Tree Expert, LLC

Outlook, Assigned Stable

RATINGS RATIONALE

Asplundh's Ba1 Corporate Family Rating reflects the company's
strong market position as the leading provider of vegetation
management services and of specialty construction for utilities,
railroads, and municipalities in the US, Canada, Australia and New
Zealand.

In vegetation management (about 70% of fiscal year 2019 revenue),
Asplundh is five times the size of its next competitor and is one
of a few national providers with the scale, safety records, and
operating experience required for large corporate clients. In
addition, Moody's rating is supported by the company's defensive
end markets, high level of recurring revenue, solid margins, modest
leverage and a good liquidity profile. At the same time, Moody's
rating takes into consideration the company's competitive dynamic
in its specialty construction segment and overall revenue exposure
to the utility sector.

Governance risks considered for Asplundh include the company's
financial policy with respect to dividend distribution, the number
of independent members who serve on the board of directors and the
significant decapitalization in the company's recent transaction.
This is partially mitigated by Asplundh's commitment to maintaining
a modest leverage and a good liquidity profile. Pro forma for
transaction, Moody's projects debt-EBTDA to be at 2.8x by year-end
2020.

The stable outlook reflects Moody's expectation that during the
weak economic environment caused by the coronavirus outbreak,
Asplundh will maintain stable revenue and profitability, generate
significant free cash and de-lever its balance sheet. This is
largely driven by Moody's expectation that the company's defensive
end markets will remain supportive of its underlying growth
drivers.

Asplundh has a good liquidity profile. Pro forma for the
transaction, Asplundh's liquidity position is supported by $119
million of cash, a $750 million secured revolving credit facility
which will remain mostly undrawn and Moody's expectation that the
company will generate significant free cash flow in 2021.

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

The ratings could be upgraded if:

  - A long term commitment by management to a conservative
financial policy

  - The company attains a capital structure that allows for maximum
financial flexibility

  - The company further diversifies its revenue stream and improves
its liquidity profile

  - Debt-to-EBITDA is below 3.0x for a sustained period of time

  - EBITA-to-Interest expense is above 6.0x for a sustained period
of time

  - Retained cash flow-to-net debt is above 25%

The ratings could be downgraded if:

  - The company's liquidity profile deteriorates

  - A larger than expected cash distribution to shareholders

  - Debt-to-EBITDA is above 4.0x for a sustained period of time

  - EBITA-to-Interest expense is below 4.5x for a sustained period
of time

  - Retained cash flow-to-net debt is approaching 20%

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

Headquartered in Willow Grove, PA and founded in 1928, Asplundh is
North America's largest provider of vegetation management,
construction and other services that support the operations of
utilities, rail roads and other industries. The vegetation
management division consists primarily of clearing tree growth from
power lines, maintenance of rights of-way, herbicide brush control,
and storm debris removal. While the construction and other service
activities include overhead and underground utility related
construction and maintenance, meter reading and installation,
street light construction and maintenance, electrical testing,
planning and engineering services, etc.


BAP PROPERTIES: Gets Court Approval to Tap St. James Law as Counsel
-------------------------------------------------------------------
BAP Properties, LLC received approval from the U.S. Bankruptcy
Court for the Northern District of California to employ St. James
Law, P.C. as its legal counsel.

Debtor requires the assistance of the firm with respect to the
following:

     (a) the requirements of the Bankruptcy Code regarding the
operation of its business;

     (b) the requirements of the Office of the United States
Trustee regarding operating matters and the filing of reports;

     (c) the administration of claims, including the evaluation of
timely filed proofs of claim;

     (d) sale of Debtor's property; and

     (e) the formulation and prosecution of Debtor's plan of
reorganization.

The firm has a single full-time professional employee, Michael St.
James, Esq., whose current hourly rate is $650 per hour.

St. James Law received a pre-payment deposit or retainer of
$50,000, of which $6,462 was applied to pre-bankruptcy services and
the filing fee, leaving a net pre-bankruptcy retainer of $43,538 as
of the filing date.  The remaining balance of the retainer will be
used as an advance payment of the firm's fees and costs.

St. James Law is a "disinterested person" as defined in Section
101(14) of the Bankruptcy Code, according to court filings.

The firm can be reached through:
     
     Michael St. James, Esq.
     St. James Law, P.C.
     22 Battery Street, Suite 888
     San Francisco, CA 94111
     Telephone: (415)391-7566
     Facsimile: (415)391-7568
     Email: michael@stjames-law.com

                        About BAP Properties

BAP Properties, LLC, owns properties located at 6308 Inspiration
Terrace, Pleasanton, Calif., and 622 Happy Valley, Pleasanton,
Calif.

BAP Properties filed a voluntary Chapter 11 petition (Bankr. N.D.
Cal. Case No. 20-41119) on July 1, 2020.  The petition was signed
by Kuldeep Singh, member.  At the time of the filing, Debtor
disclosed estimated assets of $1 million to $10 million and
estimated liabilities of the same range.  Judge Roger L. Efremsky
oversees the case.  St. James Law, P.C. serves as Debtor's legal
counsel.


BAP PROPERTIES: Seeks Approval to Hire Real Estate Broker
---------------------------------------------------------
BAP Properties, LLC seeks approval from the U.S. Bankruptcy Court
for the Northern District of California to employ Ranbir Atwal of
Realty One Group American as its real estate broker.

The Debtor requires the services of a broker to assist in the sale
of its properties located at 6308 Inspiration Terrace, Pleasanton,
Calif. and 622 Happy Valley, Pleasanton, Calif.

Under the listing agreements for both properties, Realty One Group
American will receive an aggregate 6 percent commission, of which
2.5 percent will be shared with a buyer's broker.

In addition, the listing agreement for the Inspiration property
provides for reimbursement from escrow of certain advances
aggregating $52,350 funded by the Realty One Group American for
make-ready and marketing expenses.

Mr. Atwal disclosed in court filings that the firm is a
"disinterested person" as defined in Section 101(14) of the
Bankruptcy Code.

The firm can be reached through:
     
     Ranbir Atwal
     Realty One Group American
     42820 Albrae St
     Fremont, CA 94538
     Telephone: (510) 220-0945
     Email: ranbiratwal@yahoo.com

                        About BAP Properties

BAP Properties, LLC, owns properties located at 6308 Inspiration
Terrace, Pleasanton, Calif., and 622 Happy Valley, Pleasanton,
Calif.

BAP Properties filed a voluntary Chapter 11 petition (Bankr. N.D.
Cal. Case No. 20-41119) on July 1, 2020.  The petition was signed
by Kuldeep Singh, member.  At the time of the filing, Debtor
disclosed estimated assets of $1 million to $10 million and
estimated liabilities of the same range.  Judge Roger L. Efremsky
oversees the case.  St. James Law, P.C. serves as Debtor's legal
counsel.


BERKELEY PROPERTIES: Taps Cushman & Wakefield as Real Estate Broker
-------------------------------------------------------------------
Berkeley Properties, LLC seeks approval from the U.S. Bankruptcy
Court for the Northern District of California to employ Cushman &
Wakefield of California, Inc. to assist in the sale of its real
properties in the City of Berkeley.

The firm will provide the following services:

     (a) prepare marketing materials;

     (b) provide due diligence materials to prospective
purchasers;

     (c) show the property to prospective purchasers; and

     (d) render other services customarily provided by real estate
brokers.

Under the terms of the listing agreement, if title to the property
is transferred to a bona fide third party purchaser or to a
lienholder by credit bid, Debtor will pay the firm a commission
equal to 3 percent of the gross purchase price of the property or
the gross credit bid from the proceeds of the sale through escrow.

Mitch Hertz, executive director at Cushman & Wakefield, disclosed
in court filings that the firm and its professionals are
"disinterested persons" as defined in Section 101(14) of the
Bankruptcy Code.

The firm can be reached through:
     
     Mitch Hertz
     Cushman & Wakefield of California, Inc.
     1333 N. California Blvd., Suite 500
     Walnut Creek, CA 94596
     Telephone: (925) 274-2803

                     About Berkeley Properties

Berkeley Properties, LLC -- a company engaged in renting and
leasing real estate properties -- sought protection under Chapter
11 of the Bankruptcy Code (Bankr. N.D. Cal. Case No. 20-41235) on
July 27, 2020.  Berkeley President Matthew English signed the
petition.  At the time of the filing, Debtor disclosed estimated
assets of $10 million to $50 million and estimated liabilities of
the same range. Debtor has tapped Sheppard Mullin Richter & Hampton
LLP as its legal counsel and Cushman & Wakefield of California,
Inc. as its real estate broker.


BERNOSKY CONSTRUCTION: Files for Chapter 7 Bankruptcy in Houston
----------------------------------------------------------------
The Houston Business Journal reports that Bernosky Construction LLC
filed for voluntary Chapter 7 bankruptcy protection May 8, 2020, in
the Southern District of Texas. The debtor listed an address of
5300 N. Braeswood, #4, Houston, and is represented in court by
attorney Reese W. Baker. Bernosky Construction LLC listed assets up
to $1,695 and debts up to $67,099. The filing's largest creditor
was listed as Cyd and Ian Baron with an outstanding claim of
$27,000.


BOUNCE FOR FUN: Texas Entertainment Buying Customer List for $3K
----------------------------------------------------------------
Bounce for Fun, LLC, asks the U.S. Bankruptcy Court for the Eastern
District of Texas to authorize the sale of its existing customer
list to Texas Entertainment Group for $3,000, subject to any higher
or better offers.

Objections, if any, must be filed within 21 days from the filing of
the Motion.

The Debtor's business consists of operation of a bounce house
company and related party games and accessories.  As a result of
the COVID-19 pandemic, the Debtor's business completed dried up.
Without any foreseeable end to the current situation, it Debtor
filed the bankruptcy for the purpose of orderly liquidating of its
assets.

The Debtor has previously filed a Motion to sell its hard assets
through an auction process.  Now, it proposes to sell it existing
customer list.  The Debtor has received an offer of $3,000 cash
upon approval of the Motion from the Buyer for the List.  It
believes it is fair price for the List, subject to any higher or
better offers.

The Debtor proposes to sell the List free and clear of all liens
claims and encumbrances through the auction process, with any liens
against the assets to attach to the proceeds of the sale and not to
be distributed without further order of the Court.
                         
                    About Bounce for Fun

Bounce for Fun, LLC, filed a Chapter 11 bankruptcy petition
(Bankr.
E.D. Tex. Case No. 20-41392) on June 17, 2020, disclosing under $1
million in both assets and liabilities.  The Debtor is represented
by Eric A. Liepins, P.C.


BRIGGS & STRATTON: Seeks to Hire 'Ordinary Course' Professionals
----------------------------------------------------------------
Briggs & Stratton Corporation and its affiliates have filed a
motion seeking approval from the U.S. Bankruptcy Court for the
Eastern District of Missouri to employ professionals who provide
services in the ordinary course of business.

The motion, if granted, would allow Debtors to hire "ordinary
course professionals" without filing separate employment
applications and fee applications.

The OCPs provide a range of services to Debtors relating to
litigation, regulatory law, employment law, intellectual property,
general corporate law, real estate, tax, and other matters that
have a direct and significant impact on Debtors' operations.  A
list of these OCPs is available without charge at
https://is.gd/853ISS

The proposed fee cap is $75,000 per month or $750,000 in the
aggregate over the life of the Debtors' Chapter 11 cases.

                About Briggs & Stratton Corporation

Briggs & Stratton Corporation is a producer of gasoline engines for
outdoor power equipment and a designer, manufacturer and marketer
of power generation, pressure washer, lawn and garden, turf care,
and job site products. The Company's products are marketed and
serviced in more than 100 countries on six continents through
40,000 authorized dealers and service organizations.  Visit
https://www.basco.com for more information.

Briggs & Stratton Corporation and four affiliates concurrently
filed voluntary petitions for relief under Chapter 11 of the
Bankruptcy Code (Bankr. E.D. Mo. Lead Case No. 20-43597) on July
20, 2020. The petitions were signed by Mark A. Schwertfeger, senior
vice president and chief financial officer.  At the time of the
filing, Briggs & Stratton Corporation disclosed total assets of
$1,589,398,000 and total liabilities of $1,350,058,000 as of March
29, 2020.

Judge Barry S. Schermer oversees the cases.

Debtors have tapped Weil, Gotshal & Manges LLP as bankruptcy
counsel; Carmody MacDonald P.C. as local counsel; Foley & Lardner
LLP as corporate counsel; Houlihan Lokey Inc. as investment banker;
Ernst & Young, LLP as restructuring and tax advisor; Deloitte LLP
as auditor and tax consultant; and Kurtzman Carson Consultants, LLC
as claims and noticing agent.


BUENA VISTA HEALTH: Files for Chapter 7 Bankruptcy in Houston
-------------------------------------------------------------
The Houston Business Journal reports that Buena Vista Health and
Wellness LLC filed for voluntary Chapter 7 bankruptcy protection
March 30, 2020, in the Southern District of Texas. The debtor
listed an address of 187A Heights Blvd., Houston, and is
represented in court by attorney Liza A. Greene. Buena Vista Health
and Wellness LLC listed assets up to $41,219 and debts up to
$414,908. The filing's largest creditor was listed as Spirit of
Texas Bank with an outstanding claim of $228,208.


CAPITAL ASSET: Hires Mr. Lefoldt, Jr. of Lefoldt & Co. as CRO
-------------------------------------------------------------
Capital Asset Management, LLC, seeks authority from the U.S.
Bankruptcy Court for the Northern District of Mississippi to employ
H. Kenneth Lefoldt, Jr. of Lefoldt & Co., P.A., as chief
restructuring officer to the Debtor.

Capital Asset requires Lefoldt & Co. to:

   -- render guidance as CRO;

   -- provide general accounting services;

   -- assist in the preparations of a plan or reorganization,
      monthly operating reports; and

   -- testify as an expert witness.

Lefoldt & Co. will be paid at the hourly rate of $350, and a
retainer in the amount of $10,000.

Lefoldt & Co. will also be reimbursed for reasonable out-of-pocket
expenses incurred.

H. Kenneth Lefoldt, Jr., partner of Lefoldt & Co., P.A., assured
the Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and does not
represent any interest adverse to the Debtor and its estates.

Lefoldt & Co.can be reached at:

     H. Kenneth Lefoldt, Jr.
     LEFOLDT & CO., P.A.
     690 Towne Center Blvd
     Ridgeland, MS 39158-2848
     Tel: (601) 956-2374

                About Capital Asset Management

Capital Asset Management, LLC, based in Armory, MS, filed a Chapter
11 petition (Bankr. N.D. Miss. Case No. 20-12204) on June 29, 2020.
In the petition signed by Konie D. Minga, manager, the Debtor was
estimated to have $10 million to $50 million in assets and $50
million to $100 million in liabilities.  NEWMAN & NEWMAN, serves as
bankruptcy counsel to the Debtor.


CARVER BANCORP: Incurs $5.4 Million Net Loss in Fiscal 2020
-----------------------------------------------------------
Carver Bancorp., Inc., filed with the Securities and Exchange
Commission its Annual Report on Form 10-K, disclosing a net loss of
$5.42 million on $21.63 million of total interest income for the
year ended March 31, 2020, compared to a net loss of $5.94 million
on $23.23 million of total interest income for the year ended March
31, 2019.

As of March 31, 2020, the Company had $578.77 million in total
assets, $529.87 million in total liabilities, and $48.89 million in
total equity.

The Company said it is closely monitoring its asset quality,
liquidity, and capital positions.  Management is actively working
to minimize the current and future impact of this unprecedented
situation, and is making adjustments to operations where
appropriate or necessary to help slow the spread of the virus.  In
addition, as a result of further actions that may be taken to
contain or reduce the impact of the COVID-19 pandemic, the Company
may experience changes in the value of collateral securing
outstanding loans, reductions in the credit quality of borrowers
and the inability of borrowers to repay loans in accordance with
their terms.  The Company is actively managing the credit risk in
its loan portfolio, including reviewing the industries that the
Company believes are most likely to be impacted by emerging
COVID-19 events.  These and similar factors and events may have
substantial negative effects on the business, financial condition,
and results of operations of the Company and its customers.  The
Bank has seen an increase in its delinquencies since March 31, 2020
and has determined that $2.1 million of the increase is directly
related to the COVID-19 pandemic.

A full-text copy of the Form 10-K is available for free at:

                         https://is.gd/f1ifYs

                        About Carver Bancorp

Carver Bancorp, Inc. is the holding company for Carver Federal
Savings Bank, a federally chartered savings bank.  The Company is
headquartered in New York, New York.  The Company conducts business
as a unitary savings and loan holding company, and the principal
business of the Company consists of the operation of its
wholly-owned subsidiary, Carver Federal.  Carver Federal was
founded in 1948 to serve African-American communities whose
residents, businesses and institutions had limited access to
mainstream financial services.  The Bank remains headquartered in
Harlem, and predominantly all of its seven branches and four
stand-alone 24/7 ATM centers are located in low- to moderate-income
neighborhoods.  Many of these historically underserved communities
have experienced unprecedented growth and diversification of
incomes, ethnicity and economic opportunity, after decades of
public and private investment.


CEDAR HAVEN: Buyer Intends to Nix Deal
--------------------------------------
Chris Coyle, writing for Lebtown, reports that the buyer of
bankrupt Jersey-based healthcare chain Cedar Haven wants to back
out from the agreement, accusing the current operator of preventing
access to the facility for pre-transfer inspections and employee
meetings.

The current operator is Cedar Haven Acquisition LLC. ("CHA"), which
ended up owning the assets and day-to-day business operation of
Cedar Haven after the Lebanon County commissioners sold it in
2014.

CHA filed for Chapter 11 bankruptcy in August, 2019, citing
millions of dollars in debt. It has been operating the facility
since then under bankruptcy court supervision, and resident care
has continued.

A separate company, 590 South 5th Avenue LLC, which is not part of
the bankruptcy, ended up owning the building and real estate and
has been leasing it to CHA.

Hopes for Cedar Haven's financial stability swelled when Allaire
Health Services, owner of several personal care homes in New Jersey
and Pennsylvania, sought to step in as Cedar Haven's operator by
agreeing to buy CHA's assets for $1,000,000 and to assume
responsibility for some of CHA's liabilities. The bankruptcy court
approved the deal, including an asset purchase agreement, in
January.

Now, the deal is in doubt.

Papers filed in court by CHA on June 29 revealed that "on June 3,
2020, [CHA] received a letter from Allaire purporting to provide
Notice of Termination . . . of the Asset Purchase Agreement . . .
between Allaire and [CHA]" and "on June 8, 2020, [CHA] sent a
response to purported Notice of Termination . . . outlining why
Allaire's attempted termination was invalid and that Allaire is in
breach of the [asset purchase agreement]."

Allaire's reasons for wanting to back out of the agreement became
clear in a demand for return of its down payment, filed in
bankruptcy court on July 1.

Allaire contends, "it was [CHA's] refusal . . . to provide
[Allaire] with access to the Facility (notwithstanding repeated
requests) – that made [completing the sale] an impossibility and
forced the termination of the [asset purchase agreement]."

Allaire says that it offered to modify on-site inspections and
meetings with Cedar Haven employees to include COVID-19 safety
precautions, and to "even obtain a document from the PA DOH
authorizing their entry into the Facility," but that CHA still
refused to allow Allaire access.

In its filing, Allaire told the court that it "remains interested
in pursuing the acquisition of substantially all of the CHA's
assets" at Cedar Haven, but that "a new operator cannot simply walk
into the Facility on the closing date without devoting significant
time and detail pre-closing to . . . operational/transitional
details. Many of these transitional issues need to be addressed
on-site at the Facility or patient care may be jeopardized."

In addition to voiding the asset purchase agreement, Allaire is
asking the court to order CHA to return its down payment and to pay
its attorneys' fees.

CHA has not filed a response to the allegations, but Allaire's
filing hints at what CHA's position may be.

"The Court is going to hear a lot . . . about the perceived delay
in obtaining the License Approvals (from the PA DOH and HUD),"
Allaire told the bankruptcy court. But Allaire said it "stands by
its good faith efforts to obtain License Approval," and that it
"had obtained the necessary License Approvals as of May 27, 2020
and was prepared to close the transaction (and still is), provided
that it first be granted the necessary on-site access to address
transitional issues."

Calls and emails to CHA's Chas Blalack, Allaire CEO Benjamin
Kurland, and Cedar Haven executive director Steven Zablocki had not
been returned by publication time.

Reached by telephone, CHA's bankruptcy attorney, William Chipman,
said he was not authorized to comment.

                  About Cedar Haven Acquisition

Cedar Haven Acquisition, LLC -- https://cedarhaven.healthcare/ --
is a licensed skilled nursing facility located in Lebanon, Pa.,
that offers professionally supervised nursing care and related
medical and health services to persons whose needs are such that
they can only be met in a nursing facility on an inpatient basis
because of age, illness, disease, injury, convalescence or physical
or mental infirmity. It was formed in 2014 through the sale of
Cedar Haven Healthcare Center by the Lebanon County Commissioners
to Cedar Haven.

Cedar Haven Acquisition and its affiliates filed Chapter 11
petitions (Bankr. D. Del. Lead Case No. 19-11736) on Aug. 2, 2019.
At the time of the filing, Cedar Haven Acquisition estimated assets
of between $1 million and $10 million and liabilities of between
$10 million and $50 million. The cases are assigned to Judge
Christopher S. Sontchi.  William E. Chipman Jr., Esq., at Chipman
Brown Cicero & Cole, LLP, represents the Debtors.

Andrew Vara, acting U.S. trustee for Region 3, appointed a
committee of unsecured creditors on Aug. 20, 2019.  The committee
tapped Potter Anderson & Corroon LLP as its legal counsel, and
Ryniker Consultants LLC as its financial advisor.


CENTURY ALUMINUM: Incurs $26.9 Million Net Loss in Second Quarter
-----------------------------------------------------------------
Century Aluminum Company filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q, disclosing a net loss
of $26.9 million on $401.9 million of total net sales for the three
months ended June 30, 2020, compared to a net loss of $20.7 million
on $473.1 million of total net sales for the three months ended
June 30, 2019.

For the six months ended June 30, 2020, the Company reported a net
loss of $29.6 million on $823.1 million of total net sales compared
to a net loss of $55.3 million on $963.2 million of total net sales
for the six months ended June 30, 2019.

As of June 30, 2020, the Company had $1.52 billion in total assets,
$249.6 million in total current liabilities, $625.7 million in
total noncurrent liabilities, and $648.7 million in total
shareholders' equity.

In the second quarter of 2020, shipments of primary aluminum were
210,309 tonnes compared with 202,905 tonnes shipped in the first
quarter of 2020.

Second quarter results were negatively impacted by $8.5 million of
exceptional items, including a $6.4 million lower of cost or net
realizable value inventory adjustment (net of tax) and $2.7 million
of unrealized losses on forward derivative contracts (net of tax),
offset by a $0.6 million insurance recovery related to the 2018
equipment failure at Sebree.  This result compares to a net loss of
$(2.7) million for the first quarter of 2020, or $1.0 million net
income on an adjusted basis.

Adjusted EBITDA for the second quarter of 2020 was $4.7 million, a
decrease of $23.4 million primarily driven by unfavorable LME and
regional premium price realizations, partially offset by lower raw
material prices and lower operating expenses.

Century's cash position at quarter end was $174.1 million, a
sequential increase of $26.5 million.  Revolver availability was
$23.3 million.

"We have maintained the measures we instituted in early March aimed
at protecting the health of our employees and ensuring the
continuity of our operations," commented Michael Bless, president
and CEO.  "The program has remained effective; all plants continue
to run with minimal disruption.  We have also maintained the
stringent fiscal discipline we established several months ago, with
exceptions for spending aimed at safety or sustainability.  Most
importantly, our people continue to dedicate themselves to their
own safety and that of their colleagues."

Mr. Bless added, "Second quarter financial performance was
consistent with our expectations.  Cash flow was strong, and
liquidity remains robust.  In early July, we completed the
refinancing of our only public debt issue; the new notes do not
mature until 2025.  Looking ahead, due to the normal lag in our
price realization, third quarter reported financial performance
will reflect the depressed commodity price environment that
persisted throughout April and May.  The metal price has since then
improved meaningfully, consistent with the progress in a broad
spectrum of manufacturing sectors and in the economy more
generally; we are seeing evidence of these trends in regional and
product premiums.  That said, the U.S. delivered price remains
depressed as the direct result of the surge of primary aluminum
imports from Canada that began almost immediately after that
country was exempted from the Section 232 tariffs in May 2019,
breaching the clear commitment that was made; the re-imposition of
the tariff remains the only method of regaining the effectiveness
of the program."

"Century remains in excellent shape to address any number of
scenarios," concluded Mr. Bless.  "We are prepared to operate in
the present manner for a protracted period, until the public health
and economic outlooks become clearer.  We also remain focused on
the strategic initiatives that will drive long-term value, a key
example of which is the realization of full market power for Mt.
Holly.  To that end, we continue to work with the newly formed
municipal utility to establish the necessary contractual
arrangements.  With a competitive power price, Mt. Holly would be
the most efficient primary aluminum smelter in the U.S. and would
have a long and productive future ahead of it."

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

                       https://is.gd/Xa4MBn

                   About Century Aluminum Company

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

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

                         *   *    *

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


CENTURYLINK INC: Moody's Rates New $840MM Unsec. Notes 'Ba3'
------------------------------------------------------------
Moody's Investors Service has assigned a Ba3 to CenturyLink, Inc.'s
proposed $840 million senior unsecured notes due 2029 which will be
issued by Level 3 Financing, Inc. The net proceeds from the sale of
the Unsecured Notes, together with cash on hand, will be used to
pay down the 5.625% senior notes due 2023 and the 5.125% senior
notes due 2023 as well as for general corporate purposes. All other
ratings including the company's Ba3 corporate family rating and
stable outlook are unchanged.

Assignments:

Issuer: Level 3 Financing, Inc.

Senior Unsecured Regular Bond/Debenture, Assigned Ba3 (LGD4)

RATINGS RATIONALE

CenturyLink's Ba3 CFR reflects its predictable and further enhanced
cash flow from its 2019 dividend reduction, its broad base of
operations and strong market position. The companies publicly
stated financial policy focuses on the longer-term achievement of a
company-calculated net debt to adjusted EBITDA range of 2.75x to
3.25x, with steady debt reductions over at least the next two years
funded with discretionary free cash flow.

In addition, CenturyLink's continuing record of consistent network
investment at a level generally above its peer group average
demonstrates its commitment to its long-term competitive position.
These positives are offset by still high but declining leverage and
revenue weakness across its business units, exacerbated by secular
industry challenges and a highly competitive operating environment.
Revenue contracted 3.4% in the second quarter of 2020 compared to
the same period in the prior year, but this revenue contraction has
steadily diminished from higher levels over the last five
quarters.

CenturyLink has demonstrated strong cost cutting success at a
faster than planned pace from initial synergy targets following its
November 2017 acquisition of Level 3, significantly offsetting the
impact of revenue weakness on operating margins. CenturyLink's
company-calculated adjusted EBITDA margin for Q2 2020 decreased
slightly to 41.9% compared to the same period a year ago. However,
company-calculated adjusted EBITDA margins have been steadily
increasing since the close of the Level 3 acquisition and are up
almost 650 basis points from a pre-close third quarter 2017 level
of 35.5%.

With Moody's expectation for EBITDA margins to continue increasing
on an annual basis along with increased free cash flow from the
2019 dividend cut, CenturyLink is now well-positioned to pay down
about $2 billion of debt each year through year-end 2022. As of
June 30, 2020, CenturyLink's leverage (Moody's adjusted) was
approximately 4.1x.

Moody's expects CenturyLink to have a good liquidity profile over
the next 12 months, reflected by its SGL-2 speculative grade
liquidity rating and supported by $1.8 billion cash on hand as of
June 30, 2020, and its expectation of at least $2.1 billion of
after dividend free cash flow for full year 2020. The company had
approximately $2.9 billion of near-term debt maturities as of June
30, 2020.

CenturyLink also has $1.125 billion of availability under its $2.2
billion senior secured revolving credit facility that expires in
January 2025. With respect to the term loan A facilities and the
revolver, the credit agreement requires CenturyLink to maintain a
total leverage ratio of not more than 4.75x and a minimum
consolidated interest coverage ratio of at least 2x. The term loan
B facility is not subject to the leverage or interest coverage
covenants. Moody's estimates CenturyLink will remain comfortably in
compliance with the total leverage ratio and interest coverage
ratio for the next 12 to 18 months

The instrument ratings reflect both the probability of default of
CenturyLink, as reflected in the Ba3-PD probability of default
rating, an average expected family recovery rate of 50% at default
and the loss given default assessment of the debt instruments in
the capital structure based on a priority of claims.

CenturyLink's corporate structure includes two layers of debt
(secured/unsecured) at the holding company (CenturyLink, Inc.)
level and three main operating company credit pools (Qwest
Corporation, Embarq Corporation and Level 3 Parent, LLC) with
multiple classes of debt within each.

At the holding company level, Moody's rates the company's secured
credit facility Ba3 and unsecured notes B2. CenturyLink's senior
secured credit facilities, including its revolver and term loans,
are rated Ba3, reflecting their senior position ahead of
CenturyLink's unsecured debt. The senior secured credit facilities
are guaranteed by Wildcat Holdco LLC (Parent of Level 3 Parent,
LLC), Qwest Communications International Inc., Qwest Services
Corp., Qwest Capital Funding, Inc. and Embarq Corporation. The
credit facility also benefits from a pledge of stock of Wildcat
Holdco LLC, QCF and QSC. The B2 senior unsecured rating of
CenturyLink Inc. reflects its junior position in the capital
structure and the significant amount of senior debt, including as
of June 30, 2020 $8.8 billion of debt at CenturyLink, $11.3 billion
of debt at Level 3, $4.8 billion of debt at Qwest Corporation, $0.4
billion of debt at QCF, and $1.6 billion of debt at Embarq and its
subsidiaries. The senior unsecured debt of QC is rated Ba2 based on
its structural seniority and relatively low leverage of 1.4x
(Moody's adjusted) as of March 31, 2020.

The senior unsecured notes of Level 3 Financing, Inc. are rated
Ba3, reflecting their structural seniority to Level 3 Parent, LLC,
and junior position relative to LFI's senior secured bank credit
facility and senior secured notes which are rated Ba1. Leverage
within the Level 3 credit pool was approximately 3.8x (Moody's
adjusted) as of June 30, 2020.

The senior unsecured debt of Embarq Corporation is rated Ba2,
reflecting a structurally senior (relative to CenturyLink) claim on
the assets of Embarq, which had leverage of 1.0x (Moody's adjusted)
as of March 31, 2020. The senior secured debt of Embarq's operating
subsidiary, Embarq Florida, Inc., is rated Baa3.

The stable outlook reflects CenturyLink's sustainable deleveraging
trajectory following an early 2019 dividend reduction, continued
strong execution on cost synergies since the Level 3 acquisition in
November 2017 and solid opportunities for continuing
transformational synergies over the next several years. Moody's
expects that CenturyLink's leverage (Moody's adjusted) will
steadily fall below 4.0x by year-end 2020, supported by solid
operational execution and continued margin expansion despite
continued secular pressures on top line growth, with excess cash
flow dedicated to debt reduction.

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

Moody's could downgrade CenturyLink's CFR to B1 if leverage
(Moody's adjusted) increases above 4.25x or free cash flow turns
negative, both on a sustained basis, or if capital investment is
reduced to levels that could weaken the company's competitive
position. A sustained reversal in the currently declining pace of
revenue contraction could also result in a downgrade.

Moody's could upgrade CenturyLink's CFR to Ba2 if both revenue and
EBITDA were stabilized, leverage (Moody's adjusted) was sustained
below 3.75x and free cash flow to debt was in the high single digit
percentage range.

The principal methodology used in this rating was
Telecommunications Service Providers published in January 2017.

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

CenturyLink, Inc., headquartered in Monroe, Louisiana, is an
integrated communications company that provides an array of
communications services to residential, business, governmental and
wholesale customers. In October of 2017, CenturyLink acquired Level
3 Parent, LLC, (f/k/a Level 3 Communications, Inc.) an
international communications company with one of the world's
largest long-haul communications and optical internet backbones.
The company generated approximately $22.0 billion in revenue over
the last 12 months ended June 30, 2020.


CHESAPEAKE ENERGY: Risks & Hope Brought by Ch. 11 Restructuring
---------------------------------------------------------------
Daniel Jones, writing for Seeking Alpha, presents an analysis on
the risks and hope brought by Chesapeake Energy Chapter 11
restructuring.

The management team at Chesapeake announced plans to restructure
the company through Chapter 11.

This move should not have been all that surprising for followers of
the firm, as high leverage and high capex requirements hurt the
firm.

Investors would be wise to stay clear of the firm's equity, but
debt holders may have an opportunity for upside long term.

It has been a tough few years for shale giant Chesapeake Energy
Corp. (OTCPK:CHKAQ). But ultimately, it appears there was little
hope for the firm, with low oil and gas prices and high maintenance
capex costs, but to declare bankruptcy. Though the energy
environment is in many ways better than it was earlier this year,
it’s not good enough for a company with Chesapeake’s troubles
and high leverage to survive. This is a sad day for investors in
the firm, but the company as a whole will be a better, stronger
entity when it does leave bankruptcy protection at some point in
the not-too-distant future. Perhaps at that time it will be an
attractive prospect to consider, but for now, investors would be
wise to steer clear of the firm.

What all is transpiring

I have had on-again, off-again sentiments for Chesapeake in recent
years. When energy prices were high and management was looking into
asset sales aimed at deleveraging, I found it an interesting
prospect, but for most of the past few years, I have found the
company to be a dubious prospect. Heavily reliant on natural gas
pricing, which has been pretty consistently weak, and with a capex
budget of around $2 billion needed just to keep production flat,
the business’s earnings at times looked fine but its cash flow
picture was awful. Every step taken by management to improve the
situation was then offset by a step that threw the company back
into the hole it found itself in.

At last, Chesapeake threw in the towel. On June 28th, the
management team at the firm announced that it was filing for
Chapter 11 bankruptcy protection. This is being done with an RSA
(restructuring support agreement) in place, which means that the
restructuring process can be streamlined most likely as opposed to
duked out in court from scratch. Lenders representing 100% of its
credit facility, 87% of its Term Loan Agreement, 60% of its Senior
Secured Second Lien Notes due in 2025, and 27% of its Senior
Unsecured Notes have agreed to the terms of the RSA. In all,
management expects the restructuring agreement to result in the
elimination of around $7 billion of debt.

Whenever there's a bankruptcy filing, the question of who gets what
is often the most asked. It's also the most important. Based on the
RSA provided by the firm, every party that's senior to the
company’s revolving credit facility will be deemed unimpaired.
The revolving credit facility, however, will be impaired. These
lenders will receive tranches in the firm’s $2.5 billion in exit
loans ($1.75 billion in the form of a revolving credit facility and
$750 million in the form of a new term loan). There will be no
exchange of equity for the credit facility debt though. Instead,
the first chunk of equity in the new, restructured business will go
to its FLLO Term Loan Facility lenders. This party will receive 76%
of the new common stock.

Those lenders will not be the only parties to get stock in the
restructured business. Holders of the Second Lien Notes will
receive 12% of the firm's common stock, plus 100% of the
business’s Class A and Class B warrants, as well as 50% of the
Class C warrants. The Class A warrants allow the holders to buy
into the company at an equity value, post-money, subject to an
implied EV (enterprise value) for the firm of $4 billion for a
period of five years. The Class B and Class C warrants are
identical, except for the price points targeting an EV of $4.5
billion and $5 billion, respectively. Each class of warrants
permits the holders to buy, in aggregate, 10% of the company, after
factoring in the rights offering of the firm but subject to
dilution associated with the management incentive plan that will
allow management to take a slice of the pie as compensation. The
holders of the Unsecured Notes, meanwhile, will receive the
remaining 12% of the stock in the enterprise, plus the remaining
50% of Class C warrants.

Except for the warrants, which I already mentioned the restrictions
for, all new ownership in the restructured business will be
adjusted for things like the rights offering, management incentive
plan, new warrants, and the backstop commitment fee. The rights
offering will be for $600 million, with 25% of that reserved for
the backstop parties, 63.75% to the FLLO Term Loan Facility lender,
and the remaining 11.25% reserved for the Second Lien claimholders.
This rights offering allows the aforementioned parties to buy their
pro rata share in additional stock in the company at a 35% discount
to the company’s post-money equity value as implied by an EV of
$3.25 billion. 77% of this rights offering is being backstopped by
the FLLO Ad Hoc Group, while the remaining 23% is being backed by
Franklin Advisers, Inc. Backstop in this case means that if the
parties that can buy into the rights offering don’t exercise that
right, they agree to cover the cost. In exchange, they receive a
fee equivalent to 10% of the rights offering amount.

It's clear that most parties here will get something as part of the
restructuring. Sadly, though, this isn't the case for every party.
All equity interests in the company will be cancelled, with the
holders of the equity receiving nothing in return. Given the firm's
high leverage, this isn’t all that surprising, but it's not
always the case that investors get nothing. Sometimes they will
receive warrants or the ability to participate in the rights
offering. Once in a great while, they will receive direct ownership
over a minority of the company. None of this is happening in
Chesapeake’s case though.

A peek at the future

With its Chapter 11 filing, the management team at Chesapeake
revealed a long-term plan for the company operationally. In it,
they highlight a scenario where development capex is cut from the
$979 million currently planned for this year to between $599
million and $618 million in any given year. According to that
presentation, the firm would see its output fall every year through
at least 2024, dropping from 448 thousand boe (barrels of oil
equivalent) this year to 373 thousand boe per day by the end of the
forecast period. This is an even greater testament to my concerns
over the company’s long-term viability.

Even with this drop in output, though, the firm would generate what
it's calling unlevered free cash flow. This is a tricky metric to
use, because it essentially ignores interest expense in calculating
free cash flow, and interest expense is a very real cost for a
firm. Even so, during the time frame covered in their analysis,
unlevered free cash flow would fall from $590 million this year to
$204 million by 2024. This is based on strip pricing for June 10th
of this year. If pricing comes in about 10% higher than this level,
unlevered free cash flow would fall from $646 million this year to
$432 million in 2024.

To get from where the company is today to where it expects to be in
the future, it plans to use up to $925 million in DIP
(debtor-in-possession) financing that it has already received
commitments for, plus it's relying on its exit loans. It also
intends to cut costs rather materially. In all, management thinks
it can cut costs by between $300 million and $350 million on an
annual run rate. This will come, in part, from reductions in things
like general and administrative costs, but it will also come from
the firm’s plan to reject (and hopefully renegotiate) certain
midstream contracts. From my experience, management talks a big
game when it comes to cost-cutting, but it rarely delivers anything
of value, so investors should be cautious on this front.

Takeaway

Right now, it's clear that shareholders in Chesapeake have been
pretty much wiped out. This isn’t terribly surprising. The
restructuring plan looks decent, and it's possible, especially if
energy prices rise in the future, that the oil and gas E&P
(exploration and production) firm can present an interesting
opportunity in the long run. Even with restructuring, though, this
does remain uncertain. The plan calling for falling output each
year and, in turn, falling cash flow, looks disconcerting. Where
does that bleeding stop? Add to this allegations of activity that
at a minimum appear to imply negligence by management and at a
maximum might be something far worse, and the path forward is
highly questionable.

Crude Value Insights offers you an investing service and community
focused on oil and natural gas. We focus on cash flow and the
companies that generate it, leading to value and growth prospects
with real potential.
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                      About Chesapeake Energy

Headquartered in Oklahoma City, Chesapeake Energy Corporation's
(NYSE: CHK) operations are focused on discovering and developing
its large and geographically diverse resource base of
unconventional oil and natural gas assets onshore in the United
States.

Chesapeake Energy reported a net loss of $308 million for the year
ended Dec. 31, 2019. As of Dec. 31, 2019, the company had $16.19
billion in total assets, $2.39 billion in total current
liabilities, $9.40 billion in total long-term liabilities, and
$4.40 billion in total equity.

Chesapeake Energy and its affiliates sought Chapter 11 protection
(Bankr. S.D. Tex. Lead Case No. 20-33233) on June 28, 2020, after
reaching terms of a Chapter 11 plan of reorganization to eliminate
approximately $7 billion of debt.

Debtors have tapped Kirkland & Ellis LLP as legal counsel; Alvarez
& Marsal as restructuring advisor; Rothschild & Co and Intrepid
Financial Partners as financial advisors; and Reevemark as
communications advisor.  Epiq Global is the claims agent,
maintaining the page http://www.chk.com/restructuring-information.


Wachtell, Lipton, Rosen & Katz serves as legal counsel to
Chesapeake Energy's Board of Directors.

MUFG Union Bank, N.A., the DIP facility agent and exit facilities
agent, has tapped Sidley Austin LLP as legal counsel; RPA Advisors,
LLC as financial advisor; and Houlihan Lokey Capital, Inc. as
investment banker.

Davis Polk & Wardell LLP and Vinson & Elkins L.L.P. serve as legal
counsel to an ad hoc group of first lien last out term loan lenders
while Perella Weinberg Partners and Tudor, Pickering, Holt & Co.
serve as the group's investment bankers.

Franklin Advisers, Inc., has tapped Akin Gump Strauss Hauer & Feld
LLP as legal counsel; FTI Consulting, Inc. as financial advisor;
and Moelis & Company LLC as investment banker.







CHISHOLM OIL: Unsecureds to Recover 0.0% or 0.5% in Joint Plan
--------------------------------------------------------------
Chisholm Oil and Gas Operating, LLC, and its debtor-affiliates
filed with the U.S. Bankruptcy Court for the District of Delaware a
Joint Chapter 11 Plan of Reorganization and a Disclosure Statement
on June 30, 2020.

The Debtors are commencing the solicitation to implement a
comprehensive financial restructuring to deleverage the Debtors'
balance sheet to ensure the Debtors' long-term viability.  As a
result of extensive negotiations, on June 15, 2020, the Debtors
executed a restructuring support agreement, with (i) lenders that
hold approximately 99.6% of the claims under the RBL Credit
Agreement and (ii) prepetition equity holders, which own, directly
or indirectly, 100% of the outstanding equity interests in the
Debtors.

The Restructuring Transaction will allow the Debtors to emerge from
the Chapter 11 Cases substantially de-levered and funded with
additional capital to ensure the reorganized Debtors have
sufficient go-forward liquidity. The Debtors' balance sheet
liabilities will be reduced from approximately $517 million in
funded debt to approximately $34.77 million in funded debt, which
represents an approximate 93% reduction of debt on the Effective
Date relative to the Petition Date.

The Restructuring Transaction will restructure Chisholm's balance
sheet by (i) refinancing a portion of the claims under the RBL
Credit Agreement with new debt in the form of a first-lien
second-out exit facility, (ii) equitizing the remaining RBL Claims,
(iii) either equitizing or cancelling the claims under the Term
Loan Agreement, and (iv) cancelling existing equity interests.
Notwithstanding the fact that substantially all of the Debtors’
assets are encumbered by liens to secure the RBL Claims and Term
Loan Claims, and the value of the Debtors’ assets do not exceed
the amount of he RBL Claims, in an effort to streamline these cases
and achieve a consensual confirmation process, the Restructuring
Transaction offers distribution to the holders of Allowed Term Loan
Claims, holders of Allowed General Unsecured Claims, and the
Consenting Sponsors in the form of equity, warrants, and releases
if these parties vote in favor of the Plan.

Class 4: Unsecured Claims will recover approximately 0.0% or 0.5%.
If (A) Class 4 and Class 7 vote to accept the Plan and (B) as of
the Confirmation Date, the Consenting Sponsors have not terminated
their obligations under the Restructuring Support Agreement, then
on or as soon as reasonably practicable after the later of the
Effective Date and the date on which a General Unsecured Claim
becomes an Allowed General Unsecured Claim, each holder of an
Allowed General Unsecured Claim shall receive, in full and final
satisfaction of such Claim, such holder's Pro Rata share of:

   * 3% of the New Equity Interests, subject to dilution by the
Warrant Equity and the MIP Equity; and

   * Warrants for up to 6% of the New Equity Interests, subject to
dilution by the MIP Equity.

If (A) Class 4 or Class 7 do not vote to accept the Plan or (B)
prior to the Confirmation Date, the Consenting Sponsors terminate
their obligations under the Restructuring Support Agreement, then
no holder of a General Unsecured Claim shall receive any
distribution on account of such General Unsecured Claim.

The Reorganized Debtors shall fund Cash Plan Distributions with (i)
Cash available on or after the Effective Date and (ii) Cash
proceeds from the FLFO RBL Facility, to the extent applicable.

A full-text copy of the Disclosure Statement dated June 30, 2020,
is available at https://tinyurl.com/ybqmbwus from PacerMonitor at
no charge.

Proposed Attorneys for the Debtors:

         WEIL, GOTSHAL & MANGES LLP
         Matthew S. Barr
         Kelly DiBlasi
         Lauren Tauro
         767 Fifth Avenue
         New York, New York 10153
         Telephone: (212) 310-8000
         Facsimile: (212) 310-8007

               - and -

         YOUNG CONAWAY STARGATT & TAYLOR, LLP
         M. Blake Cleary
         Jaime Luton Chapman
         S. Alexander Faris
         Rodney Square
         1000 North King Street
         Wilmington, Delaware 19801
         Telephone: (302) 571-6600
         Facsimile: (302) 571-1253

                 About Chisholm Oil and Gas

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 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.

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


CORT & MEDAS: Sets Bidding Procedures for Brooklyn Properties
-------------------------------------------------------------
Cort & Medas, LLC, asks the U.S. Bankruptcy Court for the Eastern
District of New York to authorize the bidding procedures in
connection with the auction sale of the real properties known as
and located at 1376 and 1414 Utica Avenue, Brooklyn, New York,
Block 4784, Lots 20 and 35.

The proposed Bidding Procedures provide, in part, for: (a) a
minimum bid, in the amount to be determined prior to the hearing
date of the Motion; (a) a deposit of 10% of the amount offered; and
(b) an increase of the deposit by the successful bidder within two
business days after the auction to bring the total deposit to 10%
of the highest offered purchase price.   

The successful purchaser must close title to the Properties on a
date that is 30 calendar days after the entry of an order approving
the sale of the Properties to the Successful Bidder by the Court
although such date may be extended solely by the Debtor, in its
discretion.  No transaction will be deemed final until approved by
the Court.

The sale of the Properties is necessary and integral to the
implementation of the Plan.  Consequently, the Debtor respectfully
submits that the sale of the Properties and distribution of the
proceeds through the Plan falls within the scope of the exemption
provided for under Bankruptcy Code Section 1146(c).

The successful buyer for the Properties will be the party or
parties who tender the highest or best bid, which presents the best
opportunity to maximize the value of the Properties for the benefit
of the Debtor's estate and their creditors.  Any party that is
interested in bidding on the Properties must sign a contract
substantially similar to the form of the Contract to be provided by
the Debtor's attorney, and provide the undersigned Debtor’s
attorney with a minimum deposit of 10% of the price offered.

The Deposit must be made payable to "Shafferman & Feldman LLP
Attorney Escrow IOLA Account" and be delivered to the Auctioneer in
accordance with the deadlines set forth in the Bidding Procedures.


Subject to approval of the Motion, the auction will be held in
September 2020 at the Offices of Shafferman & Feldman LLP, 137
Fifth Avenue, 9th Floor, New York, New York 10010.  Registration
will begin at 10:00 a.m.  The Debtor reserves the right to change
the location, date and/or time of the Auction Sale and the
Properties will be offered for inspection by appointment at
reasonable times, requested by an interested party to the
Auctioneer, which will make such arrangements.

The auction will be governed by the Bidding Procedures approved by
the Court.  The Debtor reserves the right to change the date, time,
and location of the auction after it has been scheduled, and
provided that appropriate notice is given to creditors and
interested parties.

Then Debtor's obligation to pay a commission to the Auctioneer will
be the subject of a separate application to be heard by the Court
upon appropriate notice.

The Debtor believes that the sale of the Properties will pay the
allowed claims of secured claims, in full or that its secured
creditors will consent to the sale which is subject to its right
credit bid.  Consequently, the Debtor proposes that the Properties
be sold to all liens be transferred to and attach to the proceeds
of the sale.  It is also proposing to sell the Properties, "As Is"
"Where Is" without any representations or warranties of any kind.

Subsequent to the Sale, the Debtor intends to ask confirmation of
the successful bidder(s) in the following manner:

      (i) within 72 hours after the close of the auction, the
Debtor will file a declaration in further support of the Sale that
will include the actual marketing efforts undertaken leading up to
the Sale and a detailed report of the Sale; and

      (ii) substantially contemporaneous with the filing of the
Sale Declaration, the Debtor will present a proposed sale order on
seven additional days' notice.

The Debtor asks that in conjunction with the Sale, it be permitted
to assign to the successful purchaser(s) any existing executory
contracts and unexpired leases relating to the Properties.

A copy of the Bidding Procedures is available at
https://tinyurl.com/yac53bqt from PacerMonitor.com free of charge.

A hearing on the Motion was held on Aug. 5, 2020 at 3:00 p.m.  The
objection deadline was no later than 5:00 p.m. seven days prior to
the Hearing Date.         

                About Cort & Medas Associates

Cort & Medas Associates, LLC sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. E.D.N.Y. Case No. 19-41313) on March
6,
2019. At the time of the filing, the Debtor was estimated to have
assets and liabilities of between $1 million and $10 million.  The
case is assigned to Judge Carla E. Craig.  Shafferman & Feldman
LLP
is the Debtor's legal counsel.


CRAWFORD STUDIOS: Files for Chapter 7 Bankruptcy in Houston
-----------------------------------------------------------
The Houston Business Journal reports that Crawford Studios Inc.,
d/b/a RushCycle Woodforest, filed for voluntary Chapter 7
bankruptcy protection June 19, 2020, in the Southern District of
Texas.  The debtor listed an address of 2300 Woodforest Parkway N.,
#500, Montgomery, and is represented in court by attorney Jessica
Lee Hoff. Crawford Studios Inc. dba RushCycle Woodforest listed
assets up to $107,084 and debts up to $558,120. The filing's
largest creditor was listed as Shops at Woodforest LLC with an
outstanding claim of $279,833.


CSL INVESTMENTS: Files for Chapter 7 Bankruptcy in Houston
----------------------------------------------------------
The Houston Business Journal reports that CSL Investments Inc.
filed for voluntary Chapter 7 bankruptcy protection May 15, 2020,
in the Southern District of Texas. The debtor listed an address of
2124C Nantucket Drive, Houston, and is represented in court by
attorney Peter Johnson. CSL Investments Inc. listed assets up to
$13,301 and debts up to $44,710. The filing's largest creditor was
listed as Caroline S. Lembcke with an outstanding claim of $36,257.


DANA INC: S&P Affirms 'BB' ICR; Ratings Off Watch Negative
----------------------------------------------------------
S&P Global Ratings affirmed its 'BB' issuer credit rating on Dana
Inc. and its issue-level ratings on its debt and removed all
ratings from CreditWatch, where S&P placed them with negative
implications on March 26, 2020.

S&P believes auto, commercial vehicle, and off-highway equipment
sales will likely improve in the back half of the year; however,
the negative outlook reflects ongoing uncertainty around the
severity and duration of the impact of the pandemic on the Dana's
end markets. Dana's sales declined over 50% in the second quarter
and margins fell significantly because of plant closures due to
COVID-19-related measures. S&P believes production and demand are
beginning to improve globally in the third quarter, with the
recovery of the light vehicle market likely to be more robust than
the commercial and off-highway markets. However, the timing and
degree of economic recovery from the pandemic remain uncertain.
Dana will continue to face risks from both operations and
end-market demand. S&P expects high unemployment, shrinking
discretionary income, and diminished consumer confidence will
pressure spending on new cars. Agriculture equipment demand is
coming back strong but construction remains weak and commercial
vehicle demand will depend on overall economic growth. If demand
remains at lower levels for a prolonged period, Dana's credit
metrics could further weaken.

The negative outlook reflects the risk (albeit reduced) of a
downgrade over the next 12 months if there is a prolonged negative
effect on demand and operational performance from pandemic-related
fallout.

Downside scenario

S&P would likely lower its rating on Dana if it expects its debt to
EBITDA to remain above 4x in 2021 or its free operating cash flow
(FOCF) to debt remains well below 10%.

Upside scenario

S&P could revise the outlook to stable if it sees steady
macroeconomic recovery prospects in 2021 and continued market
outgrowth leading to strong margin recovery. This would support
debt to EBITDA solidly below 4x, in addition to a strong recovery
in free cash flow and maintenance of a robust liquidity position.


DELUXE EXPRESS: Files for Chapter 11 Bankruptcy Protection
----------------------------------------------------------
Clarissa Hawes, writing for Freightwaves, reports that Deluxe
Express Inc. of Plainfield, Illinois, filed for Chapter 11
bankruptcy protection on July 1, 2020, citing soaring insurance
rates after one of its drivers was involved in a fatal crash on
Interstate 80 near Laramie, Wyoming, in March 2019.

The trucking company has 13 power units and lists 13 drivers,
according to FMCSA records.

Deluxe Express and another motor carrier have been named in a
wrongful death lawsuit filed by the family of a man killed in the
deadly pileup involving three trucking companies.

Igoris Geguzinskas, president of Deluxe Express, said skyrocketing
insurance costs made it impossible for his small trucking company
to continue in the wake of the March 9, 2019, pileup.
             
                      About Deluxe Express

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

Deluxe Express filed a voluntary petition for relief under Chapter
11 of the Bankruptcy Code (Bankr. N.D. Ill. Case No. 20-13381) on
July 1, 2020.  The petition was signed by Deluxe Express President
Igoris Geguzinskas.  At the time of the filing, the Debtor
disclosed total assets of $1,032,142 and total liabilities of
$2,694,778.  Judge David C. Cleary oversees the case.

The Debtor has tapped Gutnicki, LLP as its bankruptcy counsel and
the
Law Offices of David Freydin, PC as its corporate counsel.


DIOCESE OF BUFFALO: Seeks Approval to Tap Insurance Archeologist
----------------------------------------------------------------
The Diocese of Buffalo, N.Y. seeks approval from the U.S.
Bankruptcy Court for the Western District of New York to employ
Insurance Archeology Group as its insurance archeologist.

The professional services that the firm will render include:

     (a) Conduct a comprehensive search and review of the Diocese's
internal records to locate and recover documentation of potential
missing liability coverage and other historic insurance assets;

     (b) Assist in compiling a policy list that outlines any
information identified to date regarding historic insurance
coverage;

     (c) Contact and interview available Diocesan personnel to
discuss the types of internal records stored by the Diocese;

     (d) Review any retained records of the Diocese, and other
related entities;

     (e) Identify and research potential external sources for
retained evidence of insurance coverage; and

     (f) Provide a comprehensive and complete summary to the
Diocese of the results of the investigation and organized copies of
any pertinent records located during the search.

The Diocese has agreed to pay the firm an hourly rate ranging from
$55 to $350 per hour depending on the skill and experience of the
insurance archeologist providing the services, in addition to the
reasonable out-of-pocket expenses incurred in connection with this
case.

The firm is not owed any prepetition fees or expenses. It is owed
$2,770 for ordinary course post-petition amounts due prior to the
proposed June 1, 2020 retention date, for which the firm received,
but has not yet deposited, a check in the amount of $2,770.

Michele G. Pierro, a research and project supervisor of Insurance
Archeology Group, disclosed in court filings that the firm and its
professionals are "disinterested persons" under section 101(14) of
the Bankruptcy Code and do not hold or represent any interest
adverse to the Diocese's estate.

The firm can be reached through:
   
     Michele G. Pierro
     INSURANCE ARCHEOLOGY GROUP
     75 Orient Way, Suite 302
     Rutherford, NJ
     Telephone: (212) 697-2680
     Facsimile: (212) 697-4354

                           About The Diocese of Buffalo, N.Y.

The Diocese of Buffalo, N.Y., is home to nearly 600,000 Catholics
over eight counties in Western New York. The territory of the
diocese is co-extensive with the counties of Erie, Niagara,
Genesee, Orleans, Chautauqua, Wyoming, Cattaraugus and Allegany in
New York State, comprising 161 parishes. There are 144 diocesan
priests and 84 religious priests who reside in the Diocese.

The diocese through its central administrative offices (a) provides
operational support to the Catholic parishes, schools and certain
other Catholic entities that operate within the territory of the
Diocese "OCE"; (b) conducts school operations through which it
provides parish schools with financial and educational support; (c)
provides comprehensive risk management services to the OCEs; (d)
administers a lay pension trust and a priest pension trust for the
benefit of certain employees and priests of the OCEs; and (e)
provides administrative support for St. Joseph Investment Fund,
Inc.

Dealing with sexual abuse claims, the Diocese of Buffalo sought
Chapter 11 protection (Bankr. W.D.N.Y. Case No. 20-10322) on Feb.
28, 2020. The diocese was estimated to have $10 million to $50
million in assets and $50 million to $100 million in liabilities as
of the bankruptcy filing.

The Hon. Carl L. Bucki is the case judge.

Bond, Schoeneck & King, PLLC, led by Stephen A. Donato, Esq., is
the diocese's counsel; Connors LLP is its special litigation
counsel; Phoenix Management Services, LLC is its financial advisor;
and Insurance Archeology Group is its insurance archeologist.
Stretto is the claims agent, maintaining the page
https://case.stretto.com/dioceseofbuffalo/docket.

The Office of the U.S. Trustee appointed a committee of unsecured
creditors on March 12, 2020. The committee is represented by
Pachulski Stang Ziehl & Jones, LLP and Gleichenhaus, Marchese &
Weishaar, PC.


DOUBLE R&R: Files for Chapter 7 Bankruptcy in Houston
-----------------------------------------------------
The Houston Business Journal reports that Double R&R Express
Transport LLC filed for voluntary Chapter 7 bankruptcy protection
June 8, 2020, in the Southern District of Texas. The debtor listed
an address of 3525 S. Sam Houston Parkway E., #516, Houston, and is
represented in court by attorney Alex Olmedo Acosta. Double R&R
Express Transport LLC listed assets up to $0 and debts up to
$63,518. The filing's largest creditor was listed as Worldwide
Integraged Supply Chain with an outstanding claim of $60,753.


ELANCO ANIMAL: S&P Lowers ICR to 'BB' After Bayer Acquisition
-------------------------------------------------------------
S&P Global Ratings resolved its CreditWatch on Elanco Animal Health
Inc. and lowered its issuer credit rating to 'BB' from 'BB+' after
Elanco completed the acquisition of Bayer AG's animal health unit.


At the same time, S&P affirmed its 'BB+' issue-level rating on the
senior secured credit facility and lowered its issue-level rating
on the unsecured debt to 'BB-' from 'BB'.

The downgrade reflects a substantial increase in debt and
significant integration risk following the acquisition of Bayer's
animal health unit.   Adjusted leverage increased materially as a
result of the transaction, to 4.9x on a pro forma basis for 2020
from 3.5x at year-end 2019. S&P expects the deleveraging pace to be
quick, given strong cash flow generating potential, but anticipates
leverage will be sustained above 4x through at least the end of
2021. S&P also thinks integration risk is elevated given the large
scale of the two entities, particularly as Elanco attempts to
manage and merge two disparate enterprise resource planning
systems. S&P notes the deleveraging pace could slow if
integration-related expenses are higher than expected or
anticipated cost synergies of $275 million-$300 million (a majority
of which are expected to be achieved over the next 18-24 months)
are realized more slowly than expected.

The stable outlook reflects S&P's expectation that Elanco will
successfully integrate Bayer's animal health division, including
the realization of anticipated cost synergies, resulting in
adjusted leverage between 4x and 5x at year-end 2021. It also
reflects S&P's expectation for mid-single-digit percent pro forma
revenue growth over the medium term.

"We could consider raising the rating if we believe adjusted
leverage will fall below 4x within the next 12 months. Although it
is not our base-case expectation for it to achieve this within the
next year, it could occur if Elanco deleverages faster than we
expect, by either realizing synergies more quickly or expanding at
a high-single-digit percentage organically," S&P said.

"We could lower the rating if we believe leverage would be
maintained above 5x. This could occur if Elanco adopts an
aggressive financial policy or faces serious challenges managing
the integration with Bayer, with a slower pace of synergy
realization, or elevated and sustained integration-related
expenses," the rating agency said.


ENGINEERED PROPULSION: Hires Steinhilber Swanson as Counsel
-----------------------------------------------------------
Engineered Propulsion Systems, Inc., seeks authority from the U.S.
Bankruptcy Court for the Western District of Wisconsin to employ
Steinhilber Swanson LLP, as counsel to the Debtor.

Engineered Propulsion requires Steinhilber Swanson to:

   a. prepare bankruptcy schedules and statements;

   b. consult with the Debtor's professionals or representatives
      concerning the administration of the Case;

   c. assist in preparing the disclosure statement, an asset
      purchase agreement and/or plan of reorganization and
      attendant negotiations and hearings;

   d. prepare and review pleadings, motions and correspondence;

   e. appear at and being involved in various proceedings
      before the Bankruptcy Court;

   f. handle case administration tasks and dealing with
      procedural issues;

   g. assist the Debtor-in-Possession with the commencement of
      DIP operations, including the 341 Meeting and monthly
      reporting requirements; and

   h. analyze claims and prosecuting claim objections and to take
      any necessary action on behalf of Debtor-in-Possession to
      obtain approval of a sale of its assets and/or confirmation
      of such a plan;

   i. take all necessary action to protect and preserve the
       Debtor's estate, including prosecution of actions on its
       behalf, the defense of any action commenced against the
       estate, and negotiations concerning all litigation in
       which the Debtor may be involved.

Steinhilber Swanson will be paid at the hourly rates of $120 to
$525.

Steinhilber Swanson will also be reimbursed for reasonable
out-of-pocket expenses incurred.

James D. Sweet, a partner of Steinhilber Swanson, assured the Court
that the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtors and their/its estates.

Steinhilber Swanson can be reached at:

     James D. Sweet, Esq.
     STEINHILBER SWANSON LLP
     122 W. Washington Street, Suite 850
     Madison, WI 53703
     Tel: (608) 630-8990
     E-mail: JSweet@Steinhilberswanson.com

             About Engineered Propulsion Systems

Engineered Propulsion Systems, Inc., was formed to develop,
manufacture, and market aircraft engines and engine parts.

Engineered Propulsion Systems, Inc., based in New Richmond, WI,
filed a Chapter 11 petition (Bankr. W.D. Wis. Case No. 20-11957) on
July 29, 2020.  In the petition signed by Michael Fuchs, president,
the Debtor was estimated to have $100 million to $500 million in
assets and $10 million to $50 million in liabilities.  STEINHILBER
SWANSON LLP, serves as bankruptcy counsel to the Debtor.


EVOKE PHARMA: Incurs $7 Million Net Loss in Second Quarter
----------------------------------------------------------
Evoke Pharma, Inc. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q, disclosing a net loss
of $6.96 million for the three months ended June 30, 2020, compared
to a net loss of $2.11 million for the three months ended June 30,
2019.

For the six months ended June 30, 2020, the Company reported a net
loss of $8.76 million compared to a net loss of $4.08 million for
the six months ended June 30, 2019.

As of June 30, 2020, the Company had $8.27 million in total assets,
$8.64 million in total liabilities, and a total stockholders'
deficit of $373,676.

Research and development expenses totaled approximately $5.8
million for the second quarter of 2020, compared to approximately
$1.2 million for the second quarter of 2019.  The increase during
the three months ended June 30, 2020 is primarily due to recording
a $5 million expense in June 2020 upon achieving a technology
acquisition milestone related to FDA's approval of Gimoti.
Although the expense was recorded when incurred, the payment is not
due until June 2021.  Other research and development expenses
incurred primarily related to responding to requests for additional
information from FDA related to the New Drug Application and
preparing for future manufacturing for the commercial launch of
Gimoti.

For the second quarter of 2020, general and administrative expenses
were approximately $1.2 million compared to approximately $0.9
million for the second quarter of 2019.

Total operating expenses for the second quarter of 2020 were
approximately $7.0 million, compared to total operating expenses of
approximately $2.1 million for the second quarter of 2019.

As of June 30, 2020, the Company's cash and cash equivalents were
approximately $8.0 million.  The Company expects that its current
cash balance will be sufficient to support operations into the
second quarter of 2021, without further borrowings from EVERSANA or
consideration of potential future GIMOTI revenue.

"The recent FDA approval of Gimoti, the first and only outpatient
treatment option that bypasses the stomach to relieve symptoms in
adults with acute and recurrent diabetic gastroparesis, marked the
most significant milestone in our history," said David A. Gonyer,
R.Ph., president and CEO of Evoke Pharma.  "We are currently
focused on the commercial launch of Gimoti during the fourth
quarter of 2020 with EVERSANA, our commercial partner. EVERSANA is
working with us to fully implement our strategy, while leveraging
their integrated suite of commercialization capabilities.
Simultaneously, we have manufactured the first commercial batch of
Gimoti with our contract manufacturing partner, Patheon.  We
believe that we will be well prepared to launch Gimoti and look
forward to providing patients with diabetic gastroparesis the only
outpatient non-oral treatment option to help improve gastroparesis
patients' quality of life."

                         Going Concern

The Company has incurred recurring losses and negative cash flows
from operations since inception and expects to continue to incur
net losses for the foreseeable future until such time, if ever,
that it can generate significant revenues from the sale of Gimoti.
Although the Company had approximately $8.0 million in cash and
cash equivalents at June 30, 2020, including a $2 million loan
received on June 26, 2020 from a revolving credit facility with
Eversana, the Company anticipates that it will continue to incur
losses from operations due to pre-commercialization and
commercialization activities, including manufacturing commercial
batches of Gimoti, and general and administrative costs to support
operations.  The determination as to whether the Company can
continue as a going concern contemplates the realization of assets
and the satisfaction of liabilities in the normal course of
business.  As a result, the Company believes that there is
substantial doubt about its ability to continue as a going concern
for one year after the date these financial statements are issued.
The financial statements do not include any adjustments that may
result from the outcome of this uncertainty.

The Company said its net losses may fluctuate significantly from
quarter to quarter and year to year.  The Company believes, based
on its current operating plan, that its existing cash and cash
equivalents will be sufficient to fund its operations into the
second quarter of 2021, excluding any potential additional
borrowings from the Eversana Credit Facility and future Gimoti
product revenue.  This period could be shortened if there are any
unanticipated increases in planned spending.  Even with the
Eversana Credit Facility, the Company may be required to raise
additional funds through debt, equity or other forms of financing,
such as potential collaboration arrangements, to fund future
operations and continue as a going concern.

There can be no assurance that additional financing will be
available when needed or on acceptable terms.  If the Company is
not able to secure adequate additional funding, the Company may be
forced to make reductions in spending, extend payment terms with
suppliers, and/or suspend or curtail planned pre-commercialization
and commercialization activities.  Any of these actions could
materially harm the Company's business, results of operations,
financial condition and future prospects.  There can be no
assurance that the Company will be able to successfully
commercialize Gimoti.  Because the Company's business is entirely
dependent on the success of Gimoti, if the Company is unable to
secure additional financing, successfully commercialize Gimoti or
identify and execute on strategic alternatives for Gimoti or the
Company, the Company will be required to curtail all of its
activities and may be required to liquidate, dissolve or otherwise
wind down its operations.

                       About Evoke Pharma

Headquartered in Solana Beach, California, Evoke --
http://www.evokepharma.com/-- is a specialty pharmaceutical
company focused primarily on the development of drugs to treat GI
disorders and diseases.  The Company is developing Gimoti, a nasal
spray formulation of metoclopramide, for the relief of symptoms
associated with acute and recurrent diabetic gastroparesis in adult
women.

Evoke Pharma recorded a net loss of $7.13 million for the year
ended Dec. 31, 2019, compared to a net loss of $7.57 million for
the year ended Dec. 31, 2018.  As of March 31, 2020, the Company
had $4.64 million in total assets, $1.72 million in total current
liabilities, and $2.92 million in total stockholders' equity.

BDO USA, LLP, in San Diego, California, the Company's auditor since
2014, issued a "going concern" qualification in its report dated
March 12, 2020, citing that the Company has suffered recurring
losses from operations and has not generated revenues or positive
cash flows from operations.  These factors raise substantial doubt
about the Company's ability to continue as a going concern.


FARADAY FUTURE: Founder Completes the Chapter 11 Restructuring Plan
-------------------------------------------------------------------
Faraday Future (FF), a California-based global shared intelligent
mobility company, officially confirmed the bankruptcy
reorganization procedures of its founder and CPUO (Chief Product
and User Ecosystem Officer), YT Jia (YT), have been completed. The
Reorganization Plan has officially become effective, and his
Creditor Trust has also been officially established and begun
operations.

Approval of YT Jia's Restructuring Plan removes the biggest hurdle
in FF's equity financing efforts and the implementation of the
US-China dual home market strategy, allowing FF to work vigorously
towards its equity financing targets including an IPO.

FF aims to perpetually improve the way people move by creating a
forward-thinking mobility ecosystem that integrates clean energy,
AI, the internet and new usership models. With the FF 91, FF has
envisioned a vehicle that redefines transportation, mobility, and
connectivity, creating a true "third internet living space,"
complementing users' home and smartphone internet experience.

According to FF's new production launch plan, FF 91 will kick off
deliveries approximately 9 months following the closing of
successful equity funding. FF is currently integrating all internal
and external resources to facilitate its equity financing efforts.

                      About Faraday Future

Faraday Future (FF) -- https://www.ff.com/ -- is a California-based
global shared intelligent mobility ecosystem company focusing on
building the next generation of intelligent mobility ecosystems.
Established in May 2014, the company is headquartered in Los
Angeles with R&D Center and Futurist Testing Lab, and offices in
Silicon Valley, Beijing, Shanghai, and Chengdu.  FF is poised to
break the boundaries between the Internet, IT, creative, and auto
industries with product and service offerings that integrate new
energy, AI, Internet, and sharing models, that aim to continuously
transform the mobility of mankind.

                        About Yueting Jia

Yueting Jia is the founder of Leshi Holding Group and the CEO of
Faraday Future.  Yueting Jia sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. D. Del. Case No. 19-12220) on Oct. 14,
2019.  The Debtor is represented by James E. O'Neill, Esq., at
Pachulski, Stang, Ziehl & Jones LLP.


FIESTA EVENTS: Files for Chapter 7 Bankruptcy in Houston
--------------------------------------------------------
The Houston Business Journal reports that Fiesta Events Inc. filed
for voluntary Chapter 7 bankruptcy protection April 1, 2020, in the
Southern District of Texas. Represented in court by attorney Joseph
G. Epstein, the debtor listed an address of 4011 S. Main St.,
Stafford. Fiesta Events Inc. listed assets up to $31,673 and debts
up to $43,631. The filing's largest creditor was listed as BAPS
with an outstanding claim of $11,000.


FOODFIRST GLOBAL: Seeks Case Dismissal After Sale
-------------------------------------------------
Daniel Gill, writing for Bloomberg News, reports that FoodFirst
Global Restaurants Inc., the former owner of the Brio Italian
Mediterranean and Bravo Cucina Italian restaurant chains, is
seeking to dismiss its Chapter 11 bankruptcy after selling its
assets to an affiliate of the owner of Planet Hollywood.

FoodFirst doesn't have enough money to pay even priority claims, so
it can't confirm a liquidation plan, according to the company's
motion filed in the U.S. Bankruptcy Court for the Middle District
of Florida.

Converting the case to a Chapter 7 liquidation doesn't make sense
for the same reason, the company said.

              About FoodFirst Global Restaurants

FoodFirst Global Restaurants, Inc., is the parent company of two of
America's Italian restaurant brands: BRIO Tuscan Grille and BRAVO
Cucina Italiana.  It was formed in 2018 by investment firm GP
Investments, Ltd. and a group of entrepreneurial investors.  Visit
https://www.foodfirst.com/index.html for more information.

FoodFirst Global Restaurants and its affiliates sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Lead Case
No. 20-02159) on April 10, 2020.  At the time of the filing, the
Debtors were estimated to have assets of between $10 million and
$50 million and liabilities of the same range.  Judge Karen
Jennemann oversees the cases.  Shuker & Dorris, P.A. is the
Debtors' legal counsel.

The U.S. Trustee for Region 21 appointed a committee to represent
unsecured creditors in Debtors' cases.  Pachulski Stang Ziehl &
Jones LLP is the committee's attorney.


FREEDOM OIL: Seeks Approval to Hire Opportune LLP as Accountant
---------------------------------------------------------------
Freedom Oil & Gas, Inc. and its affiliates seek approval from the
U.S. Bankruptcy Court for the Southern District of Texas to employ
Opportune LLP as their accountant.

The firm will render these services:

     (a) advise Debtors with respect to their tax liability and
corporate tax returns;

     (b) assist Debtors in preparing and finalizing their 2019 and
2020 corporate tax returns and other mandatory tax reports; and

     (c) provide other tax-oriented accounting and consulting
services.

Opportune will be paid the sum of $58,200, consisting of: (i)
$23,200 to complete the 2019 corporate tax returns and (ii) a fixed
fee of $35,000 to complete the 2020 corporate tax returns.

W. Lynn Loden, an accountant at Opportune LLP, disclosed in court
filings that the firm is a "disinterested person" within the
meaning of Section 101(14) of the Bankruptcy Code.

The firm can be reached through:
   
     W. Lynn Loden
     Opportune LLP
     711 Louisiana, Suite 3100
     Houston, TX 77002
     Telephone: (713) 490-5050
     Email: lloden@opportune.com
                         
                      About Freedom Oil & Gas

Freedom Oil & Gas, Inc. operates as an oil and gas exploration and
production company. Based in Houston, Texas, Freedom Oil has
established an acreage position in the oil-rich portion of the
Eagle Ford shale in Dimmitt County.

On May 11, 2020, Freedom Oil & Gas and its affiliates sought
Chapter 11 protection (Bankr. S.D. Tex. Lead Case No. 20-32582).  

At the time of the filing, Freedom Oil & Gas, Freedom Oil & Gas
USA, Inc., Freedom Eagle Ford, Inc. and Freedom Production, Inc.
each had estimated assets of between $1 million and $10 million and
liabilities of between $10 million and $50 million. Maverick
Drilling Company, Inc. and Maverick Production Company, Inc. had
estimated assets and liabilities of less than $50,000 at the time
of the filing.

Judge David R. Jones oversees the cases.

Debtors have tapped Okin Adams LLP as their bankruptcy counsel,
Johnson Rice & Company, LLC as investment banker, and Opportune LLP
as accountant.


FRONTIER COMMUNICATIONS: Aug. 11 Plan Confirmation Hearing Set
--------------------------------------------------------------
Frontier Communications Corp. and its debtor affiliates filed with
the U.S. Bankruptcy Court for the Southern District of New York a
motion for entry of an order approving the Disclosure Statement
Relating to the Third Amended Joint Plan of Reorganization of
Debtors.

On June 30, 2020, Judge Robert D. Drain granted the motion and
ordered that:

   * The Disclosure Statement is approved as providing holders of
claims entitled to vote on the Plan with adequate information to
make an informed decision as to whether to vote to accept or reject
the Plan.

   * The Disclosure Statement provides holders of claims or
interests, and other parties-in-interest with sufficient notice of
the injunction, exculpation, and release provisions contained in
Article VIII of the Plan.

   * July 31, 2020, at 11:59 p.m. is fixed as the last day for all
Holders of Allowed Claims entitled to vote on the Plan to return
their Ballots.

   * July 31, 2020, at 4:00 p.m. is fixed as the last day to file
any objections to the Plan.

   * Aug. 3, 2020, at 4:00 p.m. is fixed as the last day to file
the voting certification.

   * Aug. 11, 2020, at 10:00 a.m. is the hearing to consider
Confirmation of the Plan.

A copy of the order dated June 30, 2020, is available at
https://tinyurl.com/y9e5ffmg from PacerMonitor at no charge.

                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. Judge Robert D. Drain oversees the cases.

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.  The committee
tapped Kramer Levin Naftalis & Frankel LLP as its counsel; Alvarez
& Marsal North America, LLC as financial advisor; and UBS
Securities LLC as investment banker.


FRONTIER COMMUNICATIONS: Stone Buying Middletown Property for $1.2M
-------------------------------------------------------------------
Frontier Communications Corp. and affiliates ask the U.S.
Bankruptcy Court for the Southern District of New York to authorize
their Purchase and Sale Agreement with Stone Point Properties, LLC
in connection with the private sale of Frontier Communications'
parcel of real property located at 550 Highland Avenue, Middletown,
Connecticut, together with all parking areas and any improvements
and buildings situated thereon, for $1.2 million.

On Nov. 3, 2014, the Premises were designated as environmentally
contaminated under Connecticut Transfer Act as a result of the
amount of hazardous waste generated from the Premises.  Due to such
designation, the Seller incurred certain obligations with respect
to the Premises, including conducting environmental investigations
and monitoring and conducting remediation work at the Premises.   

On March 12, 2020, the Buyer and the Seller agreed in principle to
the sale of the Premises, and intend to enter into the Purchase and
Sale Agreement, pursuant to which the Buyer agrees to: (a) provide
$1.2 million to the Seller in exchange for the Premises; (b) accept
the Premises "as is," including the environmental condition; and
(c) expressly release the Seller from liabilities regarding the
purchase of the Premises.

The Sale is conditioned on the Seller obtaining the required
approvals for the Purchase and Sale Agreement, including the
approval of the Court and the Public Utilities Regulatory Authority
("PURA") for the State of Connecticut (unless PURA determines that
no such approval is required).  Per the terms of the Purchase and
Sale Agreement, the Buyer is to obtain right, title, and interest
in the Premises, excluding the business equipment and personal
property of the Seller.   

The Debtors evaluated the purchase offer and the Premises and
determined that selling the Premises would maximize value to the
Debtors for a number of reasons.  First, the sale of the Premises
would save the them approximately $165,600 in costs per year.
Second, the Property is underutilized by the Seller and is ripe for
sale.  Third, the 31 employees that report to the facility on the
Premises would remain under the Seller's employ and would be
relocated to other facilities, thereby reducing the Seller's costs
related to the Premises, while allowing existing employees to
continue offering services to the Debtors.

The Debtors ask approval to enter into the Purchase and Sale
Agreement to sell their interest in the Property.  

The salient terms of the Agreement are:

     a. Parties: Seller - The Southern New England Telephone Co.,
doing business as Frontier Communications Corp. ; Buyer: Stone
Point Properties, LLC

     b. Purchase Price: $1.2 million to be paid in installments.
The Purchase Price is to be paid in the following installments: (i)
$25,000 payable within five business days following the execution
of the Sale Agreement; (ii) $25,000 payable within 30 days
following the execution of the Sale Agreement; and (iii) $1.15
million payable on the Closing Date.

     c. Property: All of Seller's right, title and interest in and
to the Real Property, as they exist at the time of the Closing

     d. Closing Date: The Closing Date will take place on or before
the later of: (i) 21 days after the receipt of the final PURA
approval; and (ii) 30 days after the expiration of the Due
Diligence Period.

     e. Escrow" At Closing, $100,000 of the Purchase Price will be
deposited with and held by Escrow Agent.  Upon completion of the
Transfer Act Work, the remaining balance of the Remediation Funds
will be paid to Seller by the Escrow Agent.

     f. Due Diligence Termination: 30 days subsequent to the date
of the Purchase and Sale Agreement, the Buyer will have the right
for any or no reason to give the Seller or the Seller's attorney
notice of the Buyer's decision not to proceed with consummation
with the Sale and to terminate the Purchase and Sale Agreement.

A private sale to the Buyer is in the best interests of the Seller
given the cost savings which would be incurred through the Purchase
and Sale Agreement and the purchase price offered by the Buyer.
The costs of running an auction or pursuing a robust marketing
process for the Premises would likely significantly exceed any
incremental price increase the Seller would realize from such
process, if at all.  Furthermore, a public auction or marketing
process at this time would cause unnecessary delay and is unlikely
to yield a higher and better offer.  Therefore, the Debtors submit
that a private sale of the Premises to the Buyer is appropriate
under the circumstances.

To maximize the value received for the Premises, the Debtors seek
to close the Sale as soon as possible after the hearing.
accordingly, the Debtors ask that the Court waives the 14-day stay
period under Bankruptcy Rules 6004(h).

A telephonic hearing on the Motion was set for July 29, 2020 at at
10:00 a.m.

                   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. 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.  The committee
tapped Kramer Levin Naftalis & Frankel LLP as its counsel; Alvarez
& Marsal North America, LLC as financial advisor; and UBS
Securities LLC as investment banker.


GEORGIA DEER: $110K Sale of Assets to Atlas Equipment Approved
--------------------------------------------------------------
Judge Lisa Ritchey Craig of the U.S. Bankruptcy Court for the
Northern District of Georgia authorized Georgia Deer Farm, Inc.'s
sale of all of the assets listed on Exhibit A to Atlas Equipment,
LLC for $110,000, in accordance with the terms of their Asset
Purchase Agreement.

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

The Debtor and Atlas will close the sale of the Assets as soon as
possible.  

The sale is free and clear of all liens, claims, encumbrances, and
interests.  Upon Closing, all liens, claims, encumbrances, and
interests on the Assets will be deemed divested, released and
terminated.  Also, upon the closing of the sale, all obligations,
liabilities, liens, and encumbrances of any kind or nature
whatsoever will attach to the proceeds of the sale to the same
extent, validity, and priority as they existed on the petition
date.

The closing agent will pay at Closing (i) all normal, customary and
necessary commissions, closing costs, taxes, consistent with the
Asset Purchase Agreement; and (ii) to the Debtor's counsel the
balance of the Purchase Price and any other funds remaining after
closing to be held in escrow pending further order of the Court.

Pursuant to, and in accordance with, Federal Rule of Bankruptcy
Procedure 6004(h), and notwithstanding the possible applicability
of any Federal Rule of Bankruptcy Procedure or statute that might
otherwise provide to the contrary, the terms and provisions of the
Order will be immediately effective and enforceable upon its entry,
and no stay of execution, enforceability or effectiveness will
apply to the Order.  

Promptly after entry of the Interim Order, the Debtor's counsel
will serve by U.S. mail, a copy of this Order on all parties served
with the Motion and will file promptly thereafter a certificate of
service confirming such service.

A copy of the Exhibit A and the Agreement is available at
https://tinyurl.com/yd6qsxym from PacerMonitor.com free of charge.

                     About Georgia Deer Farm

Georgia Deer Farm, Inc., a tractor and farm equipment dealer in
Roopville, Ga., sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Ga. Case No. 20-10563) on March 13,
2020.  At the time of the filing, the Debtor had estimated assets
of less than $50,000 and liabilities of between $1 million and $10
million.  The Debtor is represented by The Falcone Law Firm, P.C.

The case was previously assigned to the Hon. W. Homer Drake and
was
later reassigned to the Hon. Lisa Ritchey Craig.


GIGA-TRONICS INC: Posts $75K Net Income in First Quarter
--------------------------------------------------------
Giga-Tronics Incorporated filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q, disclosing net income
of $75,000 on $3.55 million of total revenue for the three months
ended June 27, 2020, compared to net income of $52,000 on $3.50
million of total revenue for the three months ended June 29, 2019.

As of June 27, 2020, the Company had $9.55 million in total assets,
$5.11 million in total liabilities, and $4.45 million in total
shareholders' equity.

John Regazzi, CEO of the Company said, "We are pleased to report
35% overall sequential growth over the fourth quarter and a return
to profitability during our first quarter of fiscal 2021. This was
a solid quarter for us given the constraints presented by the
COVID-19 pandemic and its significant adverse impact on our fourth
quarter and full fiscal 2020 results.  Our dependable sole source
Microsource business experienced solid revenue growth compared to
both last fiscal year's first and fourth quarters and our radar
testing business achieved satisfactory results despite travel
constraints that have limited our ability to visit customers and
prospects in person.  We continued to manage our expenses carefully
during the first quarter and expect that our expenses will increase
at a slower rate than our revenue growth going forward.  This,
combined with our expectation that the higher margin testing
business will comprise a larger portion of sales over time, should
positively impact future profitability over the medium to long
term."

Lutz Henckels, COO and CFO, commented, "The market opportunity
remains very attractive.  The RADAR/EW threat emulation market is
estimated at $440 million per year and we are targeting $60 million
of this market within the next five years.  We have a focused
go-to-market strategy with deep relationships across our targeted
channels.  For example, we recently made our first sale of
integrated solutions to the US Air Force for the F-35 program. This
broadens our participation with the armed services, and we foresee
additional revenue from the Air Force and Navy in the months and
years ahead."

Mr. Henckels continued, "California continues to struggle with a
recent COVID surge which may temporarily impact our business and
our suppliers.  However, we remain confident based on our backlog
and pipeline that we are positioned to continue to make progress on
our five-year goal to achieve $60 million in annual revenues from
the testing business, while also improving profitability along the
way."

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

                      https://is.gd/YvXLiZ

                About Giga-tronics Incorporated

Headquartered in Dublin, California, Giga-tronics is a publicly
held company, traded on the OTCQB Capital Market under the symbol
"GIGA".  Giga-tronics -- http://www.gigatronics.com/-- produces
RADAR filters and Microwave Integrated Components for use in
military defense applications as well as sophisticated RADAR and
Electronic Warfare (RADAR/EW) test products primarily used in
electronic warfare test & emulation applications.

Giga-Tronics Incorporated reported a net loss attributable to
common shareholders of $2.03 million for the year ended March 28,
2020, compared to a net loss attributable to common shareholders of
$1.04 million for the year ended March 30, 2019.  As of March 28,
2020, the Company had $8.93 million in total assets, $3.37 million
in total current liabilities, $1.25 million in total long term
liabilities, and $4.30 million in total shareholders' equity.


GILMAN'S CLEANERS: Seeks Approval to Tap Genova & Malin as Counsel
------------------------------------------------------------------
Gilman's Cleaners, Inc. seeks approval from the U.S. Bankruptcy
Court for the Southern District of New York to employ Genova &
Malin as its legal counsel.

Genova & Malin will provide the following services:

     (a) advise Debtor regarding its powers, duties, financial
situation and the management of its property;

     (b) take necessary actions to void liens against Debtor's
property;

     (c) prepare legal papers; and

     (d) provide other legal services related to Debtor's Chapter
11 case.

Michelle Trier, Esq., a partner at Genova & Malin, disclosed in
court filings that the firm is a "disinterested person" as defined
in Section 101(14) of the Bankruptcy Code.

The firm can be reached through:
   
     Andrea B. Malin, Esq.
     Michelle L. Trier, Esq.
     Genova & Malin
     Hampton Business Center
     1136 Route 9
     Wappingers Falls, NY 12590
     Telephone: (845) 298-1600
     
                      About Gilman's Cleaners

Gilman's Cleaners, Inc., a Middletown, N.Y.-based company that
offers dry cleaning services, sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. S.D.N.Y. Case No. 20-35780) on July 27,
2020, listing under $1 million in both assets and liabilities.
Judge Cecelia G. Morris oversees the case.  Genova & Malin serves
as Debtor's legal counsel.


GLOBALLOGIC HOLDINGS: S&P Lowers ICR to 'B'; Outlook Stable
-----------------------------------------------------------
S&P Global Ratings lowered its rating on GlobalLogic Holdings Inc.
to 'B' from 'B+' after the company proposed a $525 million
incremental debt issuance to fund a dividend and proposed to upsize
its revolving credit facility to $150 million (from $75 million,
maturing in August 2023).  S&P assigned its 'B' issue-level rating
and '3' recovery rating to GlobalLogic's term loan and revolving
credit facilities.

"The dividend recapitalization transaction will push leverage above
our current downgrade threshold. GlobalLogic plans to raise a $525
million incremental term loan and upsize its revolving credit
facility to $150 million. The proceeds of the term loan would be
used toward a $475 million dividend and the remainder would sit on
the balance sheet. The transaction would almost double the
company's outstanding gross debt. We believe given this debt-funded
transaction coupled with our anticipation of lower profitability
over the next 12 months, GlobalLogic's leverage will increase to
the low-6x area in fiscal 2021, above our 5x downgrade threshold,"
S&P said.

"With pre-COVID-19 secular tailwinds likely to continue after the
pandemic, we expect gross margins to decline as companies hesitate
to change engineering staffing strategies. We consider engineering
resources to be a primary bottleneck to revenue growth and believe
companies will avoid laying off engineering personnel for the time
being. With expectations that revenue growth can eventually return
to pre-COVID-19 levels around the 20% area, product engineering
services (PES) providers would prefer to be fully staffed to take
advantage of pent-up demand and avoid the timely hiring and
onboarding process," the rating agency said.

GlobalLogic's fiscal 2020 S&P Global Ratings-adjusted gross
margins, which improved around 180 basis points since 2018, are
expected to decline in 2021 to 2018 levels as investments in
expanding its engineering workforce will outpace revenue growth.
S&P believes the additional hiring during the pandemic positions
GlobalLogic well to take advantage of post-COVID-19 demand as many
peers have implemented hiring freezes with some choosing not to
backfill attrition. They may struggle to find sufficient resources
when demand returns to more normalized levels.

The stable outlook on GlobalLogic reflects S&P's expectation that
the company will continue to increase revenue during the COVID-19
pandemic from the ongoing trends of outsourcing product research
and development, albeit at significantly lower rates than in prior
years. In addition, S&P anticipates the company can manage its cost
base, maintain EBITDA margins in the low-20% area, and continue to
generate positive free cash flow annually.

"We could consider lowering our rating on GlobalLogic if
significant customer defections and decreased utilization rates
weaken the company's revenue or profitability or if it pursues
aggressive leveraged dividends or acquisitions such that adjusted
debt to EBITDA exceeds 7x," S&P said.

"Although unlikely over the next 12 months, we could raise our
rating on GlobalLogic if it gains significant scale and market
share in the PES market through sustained growth, diversify its
client base and industry concentration, and maintain adjusted debt
to EBITDA below 5x on a sustained basis," the rating agency said.


GV SMILES: Gets Court Approval to Tap Joyce W. Lindauer as Counsel
------------------------------------------------------------------
RGV Smiles by Rocky L. Salinas D.D.S. P.A. received approval from
the U.S. Bankruptcy Court for the Southern District of Texas to
employ Joyce W. Lindauer Attorney, PLLC as its counsel.

The Debtor desires to hire the law firm in order to effectuate a
reorganization, propose a Plan of Reorganization and effectively
move forward in its bankruptcy proceeding.

The hourly billing rates of the firm's attorneys and
paraprofessionals are as follows:

     Joyce W. Lindauer                        $395
     Paul B. Geilich                          $325
     Guy H. Holman                            $205
     Dian Gwinnup                             $125
     Paralegals and legal assistants    $65 - $125

The Debtor has agreed to reimburse the firm for all reasonable
out-of-pocket expenses incurred on the Debtor's behalf.

Prior to the petition date, the firm has been paid a retainer of
$11,717.00, which included the filing fee of $1,717.00 in
connection with this proceeding.

Joyce W. Lindauer, the owner of the law practice Joyce W. Lindauer
Attorney, PLLC, and contract attorneys Paul B. Geilich, and Guy H.
Holman disclosed in court filings that the firm is a "disinterested
person" as defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached through:
     
     Joyce W. Lindauer, Esq.
     Paul B. Geilich, Esq.
     Guy H. Holman, Esq.
     JOYCE W. LINDAUER ATTORNEY, PLLC
     1412 Main Street, Suite 500
     Dallas, TX 75202
     Telephone: (972) 503-4033
     Facsimile: (972) 503-4034
     E-mail: joyce@joycelindauer.com

                         About RGV Smiles by Rocky L. Salinas

RGV Smiles by Rocky L. Salinas D.D.S. P.A., a dental services
provider in Pharr, Texas, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Tex. Case No. 20-70209) on June 30,
2020. The petition was signed by Rocky L. Salinas DDS, its
director. At the time of the filing, the Debtor disclosed estimated
assets of $100,000 to $500,000 and estimated liabilities of $10
million to $50 million. Hon. Eduardo V. Rodriguez oversees the
case. Joyce W. Lindauer Attorney, PLLC is the Debtor's counsel.


HARTSHORNE MINING: Files Proposed Asset Sale Agreement
------------------------------------------------------
Joseph Payton, writing for 14News, reports that Hartshorne Mining
Group, which owns the Poplar Grove Coal Mine in McLean County,
filed with the bankruptcy court a "proposed asset sale agreement"
to sell a portion of their assets.

Earlier in 2020, the company had previously filed for Chapter 11
bankruptcy.

"That allows a company, or an individual, to restructure their debt
in order to hopefully continue operations," McLean County
Judge-Executive Curtis Dame said.

The company's attorney said the company is continuing to operate,
but Dame believes the mine could soon be closing.

"It's sort of like getting to the end of the road," Dame explained.
"The debt burden is so much that the operation ceases to be
productive and also profitable."

"We hate to see the coal mine go, and not because of county tax
revenues, but because of the positive impact that mine and other
mines had here on our county."

Dame says he saw it coming, so the county saved up coal funds. At
the end of the year, county officials will have $500,000 more saved
up than they did in 2019.

This allows the county to restructure financially until those
dollars are depleted.

"McLean County has been through floods, tornadoes, different
disasters - every time the community comes together," Dame said.
"We have hard working individuals here, and I think you'll see that
type of mindset and perseverance take us farther than we’ve ever
been."

                    About Hartshorne Mining

Hartshorne Holdings, LLC, et al., are engaged in the production and
sale of thermal coal through the operation of the Poplar Grove
Mine, which is part of the Buck Creek Complex located in the
Illinois Coal Basin in Western Kentucky.  The Buck Creek Complex
includes two mines - (i) the operating Poplar Grove Mine, and (ii)
the permitted, but not constructed, Cypress Mine.

On Feb. 20, 2020, Hartshorne Holdings, LLC and three affiliates
sought Chapter 11 bankruptcy protection (Bankr. W.D. Ky. Lead Case
No. 20-40133).

Hartshorne Holdings was estimated to have $50 million to $100
million in assets and liabilities as of the bankruptcy filing.

The Hon. Thomas H. Fulton is the case judge.

The Debtors tapped SQUIRE PATTON BOGGS (US) LLP as bankruptcy
counsel; FROST BROWN TODD LLC as local counsel; and FTI CONSULTING,
INC. as financial advisor.  STRETTO is the claims agent,
maintaining the page https://cases.stretto.com/hartshorne


HERITAGE HOTEL: Aug. 24 Auction of Substantially All Assets Set
---------------------------------------------------------------
Judge Caryl E. Delano of the U.S. Bankruptcy Court for the Middle
District of Florida authorized Heritage Hotel Associates, LLC's
bidding procedures in connection with the sale of substantially all
assets to Ally Capital Group, LLC for $8 million cash, plus the
assumption of liabilities, in accordance with their Hotel Purchase
and Sale Agreement dated as of July 27, 2020, subject to overbid.

Hearings on the Motion were held on July 30, 2020, at 4:30 p.m. and
on Aug. 3, 2020, at 11:00 a.m.

The Debtor shall, promptly upon the entry of the Order, mail or
serve a copy of the Order to all interested parties.

Ally Capital is approved as the "Stalking Horse Bidder" and the
offer of Ally Capital as set forth in the Purchase Agreement is
approved as the "Stalking Horse Bid."

The Court approved the break-up fee for Ally Capital in the amount
of $200,000.  The Break-Up Fee will be due and payable to Ally
Capital from the proceeds of the sale of the Assets upon the
closing of the Alternative Transaction.

By no later than two days following the date of entry of the Order,
the Debtor will file with the Court (i) the Sale Motion, including
approval of the Purchase Agreement and of the Debtor's performance
under the Purchase Agreement consistent with the terms, conditions
and dates set forth in the Order, and (b) the Assignment Motion.
The Debtor will serve a copy of the Sale Motion and the Assignment
Motion upon all interested parties.

The Debtor or its Court-approved broker, Berkadia Real Estate
Advisors, LLC will promptly serve a copy of the Purchase Agreement,
the Sale Motion, and the Assignment Motion, to all parties on the
Bidder List and to the Contract Parties, to the extent not already
delivered, and the Debtor will thereafter file a certificate of
service with the Court.

The salient terms of the Bidding Procedures are:

     a. Bid Deadline: Aug. 20, 2020 at 5:00 p.m. (EDT)

     b. Initial Bid: An initial Bid with a cash purchase price only
for the Assets of at least $100,000 above (A) the $8 million cash
purchase price offered by the Purchaser in the Purchase Agreement,
plus (B) the $200,000 Break-Up Fee, for a total initial overbid of
$8.3 million.

     c. Deposit:  $300,000 made payable to Johnson, Pope Bokor
Ruppel & Burns, LLP

     d. Auction: An auction will be held either online or at the
offices of Johnson, Pope Bokor Ruppel & Burns, LLP, 401 E. Jackson
Street, Suite 3100, Tampa, Florida 33602 (or at such other location
designated by the Debtor in Tampa, Florida), at 10:00 a.m. (EDT) on
Aug. 24, 2020.  It will be conducted by Berkadia, and Berkadia will
make arrangements to allow Qualified Bidders to participate online
or via video conference.  All potential Qualified Bidders with
representatives who have full authority to participate in the
Auction must be present in person or online or by video conference
at the Auction.

     e. Bid Increments: $100,000

     f. Sale Hearing: Aug. 25, 2020, at 3:00 p.m

     g. Sale Objection Deadline/Contract Objection Deadline: Aug.
20, 2020 at 5:00 p.m. (EDT)

The Order is without prejudice to the rights of CCP to exercise its
credit bid rights as to any of the Assets that CCP asserts
constitutes its collateral.

                  About Heritage Hotel Associates

Heritage Hotel Associates, LLC, is a single asset real estate
debtor (as defined in 11 U.S.C. Section 101(51B)). Heritage Hotel
Associates sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. M.D. Fla. Case No. 19-09946) on Oct. 21, 2019.  At the
time of the filing, the Debtor was estimated to have assets of
between $10 million and $50 million, and liabilities of between $1
million and $10 million.


HOPEDALE MINING: Gets Approval to Hire Cambio Group as CRO Provider
-------------------------------------------------------------------
Hopedale Mining LLC and its debtor affiliates received approval
from the U.S. Bankruptcy Court for the Southern District of Ohio to
employ Cambio Group LLC to provide Thomas L. Fairfield as Chief
Restructuring Officer (CRO) and additional personnel.

Cambrio Group and Mr. Fairfield will render the following services
to the Debtors:

     (a) The CRO, with the assistance of the Additional Personnel
and in cooperation with the officers of the Debtors, shall perform
a financial review of the Debtors' businesses;

     (b) The Engagement Personnel, together and in cooperation with
the officers of the Debtors, shall seek to identify and, if
applicable, implement, cost reduction and operations improvement
opportunities;

     (c) The Engagement Personnel will provide oversight of cash
management strategies and processes and work with the Debtors'
financial personnel with respect to the foregoing;

     (d) The Engagement Personnel, together with the officers of
the Debtors, and the Debtors' investment bankers and other engaged
professionals, shall develop restructuring plans or strategic
alternatives to be presented to the Board of Directors;

     (e) The CRO will serve as the Debtors' principal contact with
the Debtors' stakeholders with respect to the Debtors'
restructuring matters, and shall act as contact for any official
statutory or ad hoc committee that may be appointed in a chapter 11
case;

     (f) The Engagement Personnel shall assist in the performance
of cost/benefit analyses related to executory contracts and the
assumption/rejection of each;

     (g) The Engagement Personnel shall assist in discussions with
and provide information to potential investors, secured creditors,
official committees, ad-hoc committees, the Office of the United
States Trustee for the Southern District of Ohio as required;

     (h) The Engagement Personnel will assist the Debtors finance
staff in managing the administrative requirements of the Bankruptcy
Code;

     (i) The Engagement Personnel shall perform such other services
as requested or directed by the Board of Directors or other
Debtors' personnel as authorized by the Board of Directors, and
agreed to by Cambio, that is not duplicative of work others are
performing for the Debtors.

Cambio Group will receive a monthly fee for the services of the CRO
of $100,000 per month.

The customary hourly billing rates of the firm's additional
personnel are as follows:

     Senior Consultants     $600
     Consultants            $350

In addition, Cambio will seek reimbursement for reasonable and
necessary expenses incurred in connection with these Chapter 11
Cases.

Cambio received $120,000 as a retainer in connection with preparing
for and conducting the filing of these Chapter 11 cases. In the 90
days prior to the Petition Date, Cambio received payments totaling
approximately $119,000 in the aggregate for services performed for
the Debtors. Cambio has applied these funds to amounts due for
services rendered prior to the Petition Date.

Thomas L. Fairfield, the president of Cambio Group LLC, disclosed
in court filings that the firm is a "disinterested person" as that
term is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached through:
   
     Thomas L. Fairfield
     CAMBIO GROUP LLC
     407 Campbell Road
     Wilmington, DE 19807
     E-mail: thomasfairfield@comast.net

                                About Hopedale Mining

Hopedale Mining, LLC and its debtor affiliates are diversified coal
producers focused on coal and energy related assets and activities.
The Debtors produce, process and sell high quality coal of various
steam and metallurgical grades from multiple coal producing basins
in the United States. The Debtors market steam coal primarily to
electric utility companies as fuel for their steam powered
generators. The Debtors have a geographically diverse asset base
with coal reserves located in Central Appalachia, Northern
Appalachia, the Illinois Basin and the Western Bituminous region.

On July 22, 2020, Hopedale Mining and its affiliates sought Chapter
11 protection (Bankr. S.D. Ohio Lead Case No. 20-12043). The
petitions were signed by Richard A. Boone, president and chief
executive officer. Judge Guy R. Humphrey oversees the cases.
Hopedale Mining was estimated to have $10 million to $50 million in
assets and $1 million to $10 million in liabilities. Debtors tapped
Frost Brown Todd LLC as counsel; Thomas L. Fairfield of Cambio
Group LLC as CRO; Energy Ventures Analysis, Inc. as financial
advisor; FTI Consulting, Inc. as bankruptcy consultant; and Epiq
Corporate Restructuring, LLC as claims and noticing agent.


HOPEDALE MINING: Gets Approval to Tap Frost Brown Todd as Counsel
-----------------------------------------------------------------
Hopedale Mining LLC and its debtor affiliates received approval
from the U.S. Bankruptcy Court for the Southern District of Ohio to
employ Frost Brown Todd LLC as their bankruptcy counsel.

The firm will render the following services to the Debtors:

     (a) advising the Debtors with respect to their powers and
duties as debtors and debtors-in-possession in the continued
management and operation of their business and property;

     (b) attending meetings; and negotiating with representatives
of creditors and other parties-in-interest and advising and
consulting on the conduct of these Chapter 11 Cases;

     (c) taking all necessary action to protect and preserve the
Debtors' assets;

     (d) preparing motions, applications answers, orders, reports,
papers and other pleadings necessary to administer the Debtors'
estates and assist the Debtors with operating in chapter 11;

     (e) preparing and negotiating on the Debtors' behalf plan(s)
of reorganization, disclosure statement(s) and all related
agreements and/or documents and taking any necessary action on
behalf of the Debtors to obtain confirmation of such plan(s);

     (f) advising the Debtors in connection with the sale of
assets;

     (g) appearing before this Court, appellate courts, and any
other courts to protect the interests of the Debtors and their
estates; and

     (h) performing any and all other necessary legal services in
connection with these Chapter 11 Cases.

The hourly billing rates of the firm's attorneys and professionals
are as follows:

     Douglas L. Lutz, Member                 $685.00
     Ronald E. Gold, Member                  $695.00
     Warren J. Hoffmann, Member              $545.00
     Wade H. Jefferson, Member               $520.00
     Mark. A. Platt, Member                  $500.00
     Patricia K. Burgess, Member             $495.00
     Michael J. O'Grady, Member              $530.00
     Adam R. Kegley, Member                  $475.00
     A. J. Webb, Managing Associate          $325.00
     Benjamin M. Katz, Managing Associate    $325.00
     Bryan J. Sisto, Associate               $275.00
     Lydia L. Curtz, Associate               $245.00
     David Payne, Associate                  $255.00
     Erin P. Severini, Staff Attorney        $310.00
     Antonette M. Batts, Legal Professional  $240.00
     Shelby F. Bryant, Senior Paralegal      $220.00

In addition, the firm will charge the Debtors for services provided
and for other expenses and disbursements incurred in connection
with these cases.

The firm has received a retainer from the Debtors in the aggregate
amount of $250,000, which was received on March 20, 2020. In
addition, on July 22, 2020, the firm received a wire transfer from
the Debtors in the amount of $48,076 to fund the filing fees for
the Chapter 11 Cases. As of the Petition Date, the balance of the
retainer is $250,000. The firm has not received any payments from
the Debtors after the Petition Date.

The following is provided in response to the request for additional
information set forth in Paragraph D.1 of the U.S. Trustee Fee
Guidelines.

Question: Did you agree to any variations from, or alternatives to,
your standard or customary billing arrangements for this
engagement?

Answer: No.

Question: Did any of the professionals included in this engagement
vary their rate based on the geographic location of the bankruptcy
case?

Answer: No.

Question: If you represented the client in the 12 months
prepetition, disclose your billing rates and material financial
terms for the prepetition engagement, including any adjustments
during the 12 months prepetition. If your billing rates and
material financial terms have changed postpetition, explain the
difference and the reasons for the difference.

Answer: All professionals other than Bryan Mattingly first
performed work for Debtors in connection with these Chapter 11
Cases. The billing rates and material financial terms, for all
professionals other than Bryan Mattingly, for the prepetition
period are the same in all respects as the billing rates and
material financial terms for the postpetition period. Bryan
Mattingly's rate is also the same in all respects save for a
standard annual rate adjustment at the beginning of 2020, by which
his rate increased by $30.00/hr. The specific hourly rates and
terms of compensation are detailed in Attachment 2.

Question: Has your client approved your prospective budget and
staffing plan, and, if so, for what budget period?

Answer: Yes. We have worked with our client on developing an
estimated budget and staffing plan for approximately the first four
months of these proceedings.

Douglas L. Lutz, a member of the law firm of Frost Brown Todd LLC,
disclosed in court filings that the firm is a "disinterested
person" as that term is defined in section 101(14) of the
Bankruptcy Code and does not hold or represent an interest
materially adverse to the Debtors' estates.

The firm can be reached through:
   
     Douglas L. Lutz, Esq.
     FROST BROWN TODD LLC
     3300 Great American Tower
     301 East Fourth Street
     Cincinnati, OH 45202
     Telephone: (513) 651-6800
     Facsimile: (513) 651-6981
     E-mail: dlutz@fbtlaw.com

                                About Hopedale Mining

Hopedale Mining, LLC and its debtor affiliates are diversified coal
producers focused on coal and energy related assets and activities.
The Debtors produce, process and sell high quality coal of various
steam and metallurgical grades from multiple coal producing basins
in the United States. The Debtors market steam coal primarily to
electric utility companies as fuel for their steam powered
generators. The Debtors have a geographically diverse asset base
with coal reserves located in Central Appalachia, Northern
Appalachia, the Illinois Basin and the Western Bituminous region.

On July 22, 2020, Hopedale Mining and its affiliates sought Chapter
11 protection (Bankr. S.D. Ohio Lead Case No. 20-12043). The
petitions were signed by Richard A. Boone, president and chief
executive officer. Judge Guy R. Humphrey oversees the cases.
Hopedale Mining was estimated to have $10 million to $50 million in
assets and $1 million to $10 million in liabilities. Debtors tapped
Frost Brown Todd LLC as counsel; Thomas L. Fairfield of Cambio
Group LLC as CRO; Energy Ventures Analysis, Inc. as financial
advisor; FTI Consulting, Inc. as bankruptcy consultant; and Epiq
Corporate Restructuring, LLC as claims and noticing agent.


HOPEDALE MINING: Gets Court Approval to Hire Sale Advisor
---------------------------------------------------------
Hopedale Mining LLC and its debtor affiliates received approval
from the U.S. Bankruptcy Court for the Southern District of Ohio to
employ Energy Ventures Analysis, Inc. as their sale advisor.

The firm will render the following services to the Debtors:

  1. Review the existing data room and update the information as
necessary
     (a) Familiarize itself with the Debtor's information in order
to conduct the sales process.
     (b) Work with management to update missing or outdated items
in the data room.
     (c) Organize access to an on-line data room for potential
buyers.
     (d) Review Confidential Information Memorandum and update if
needed.

  2. Conduct accelerated sale process
     (a) Identify potential buyers to be contacted in addition to
prior contacts.
         (i) Develop contact list for each company
         (ii) Contact and provide NDA
     (b) Re-contact buyers that showed interest in Company assets
from first sale process.
     (c) Set sale procedures and timeline.
     (d) Obtain indications of valuation.
     (e) Coordinate management meetings and mine visits as needed.
  3. Evaluate offers and negotiate sales contracts
     (a) Summarize offers for management and lenders.
     (b) Recommend best course of action.
     (c) Select preferred purchaser and engage in final
negotiations.

  4. Prepare testimony for court hearing to support sale process
and decision
     (a) Submit expert report.
     (b) Provide deposition testimony.
     (c) Testify at hearing as necessary.

The Debtors believe that the services will not duplicate the
services that other professionals will be providing to the Debtors
in the chapter 11 cases.

The Debtors have agreed to pay the firm in cash under the following
fee structure:

     (a) An initial retainer of $100,000, paid on July 17, 2020.

     (b) A fixed fee of $200,000 upon the earlier of (i) the sale
of substantially all of the assets of the Debtors (in one or a
series of transactions), or (ii) approval of a Chapter 11
reorganization plan by the Court.

     (c) A transaction fee, equal to the 1 percent (1.0%) of the
financial proceeds from the sale of the Company, subsidiaries, or
individual assets to third-party purchasers other than a credit bid
by the existing lenders. In the event of a credit bid, no
transaction fee shall be payable to the firm.

     (d) In addition to any fees that may be payable to the firm
and, regardless of whether any transaction occurs, the Debtors
shall promptly reimburse the firm, upon receipt of an invoice
therefor: (a) all documented reasonable out-of-pocket expenses
incurred in connection with the transactions contemplated by this
engagement and (b) other documented reasonable fees and
out-of-pocket expenses.

     (e) If the firm provides services to the Debtors for which a
fee is not provided herein, such services shall, except insofar as
they are the subject of a separate agreement, be treated as falling
within the scope of the Engagement Letter, and the Debtors and the
firm will agree upon a fee for such services based upon good faith
negotiations, subject to Court order.

     (f) In addition, the Debtors and the firm have acknowledged
and agreed that more than one fee may be payable to the firm in
connection with any single transaction or a series of transactions,
it being understood and agreed that if more than one fee becomes so
payable to the firm in connection with a series of transactions,
each such fee shall be paid to the firm.

As of the Petition Date, the Debtors did not owe the firm for any
fees or expenses incurred prior to the Petition Date.

Seth Schwartz, the president of Energy Ventures Analysis, Inc.,
disclosed in court filings that the firm is a "disinterested
person" as that term is defined in section 101(14) of the
Bankruptcy Code, as required by section 327(a) of the Bankruptcy
Code and does not hold or represent an interest materially adverse
to the Debtors' estates.

The firm can be reached through:
   
     Seth Schwartz
     ENERGY VENTURES ANALYSIS, INC.
     1901 North Moore Street, Suite 1200
     Arlington, VA 22209-1706
     Telephone: (703) 276-8900

                                 About Hopedale Mining

Hopedale Mining, LLC and its debtor affiliates are diversified coal
producers focused on coal and energy related assets and activities.
The Debtors produce, process and sell high quality coal of various
steam and metallurgical grades from multiple coal producing basins
in the United States. The Debtors market steam coal primarily to
electric utility companies as fuel for their steam powered
generators. The Debtors have a geographically diverse asset base
with coal reserves located in Central Appalachia, Northern
Appalachia, the Illinois Basin and the Western Bituminous region.

On July 22, 2020, Hopedale Mining and its affiliates sought Chapter
11 protection (Bankr. S.D. Ohio Lead Case No. 20-12043). The
petitions were signed by Richard A. Boone, president and chief
executive officer. Judge Guy R. Humphrey oversees the cases.
Hopedale Mining was estimated to have $10 million to $50 million in
assets and $1 million to $10 million in liabilities. Debtors tapped
Frost Brown Todd LLC as counsel; Thomas L. Fairfield of Cambio
Group LLC as CRO; Energy Ventures Analysis, Inc. as financial
advisor; FTI Consulting, Inc. as bankruptcy consultant; and Epiq
Corporate Restructuring, LLC as claims and noticing agent.


HOPEDALE MINING: Hires FTI Consulting as Consultant
---------------------------------------------------
Hopedale Mining, LLC, and its debtor-affiliates seek authority from
the U.S. Bankruptcy Court for the Southern District of Ohio to
employ FTI Consulting, Inc., as consultant to the Debtor.

Hopedale Mining requires FTI Consulting to:

   a. assist the Debtors and their professionals, as requested,
      to support and maintain a 13-week debtor-in-possession
      budget and forecast;

   b. assist the Debtors and their professionals, as requested,
      to prepare the Debtors to meet the requirements of filing
      for bankruptcy court protection;

   c. assist the Debtors and their professionals, as requested,
      to prepare the necessary financial and operating
      information; and

   d. assist the Debtors and their professionals, as requested,
      in meeting the requirements of operating under bankruptcy
      court protection.

FTI Consulting will be paid at these hourly rates:

  Senior Managing Directors                       $920 to $1,295
  Managing Directors/ Senior Directors/Directors  $690 to $905
  Senior Consultants/Consultants                  $370 to $660
  Administrative/Paraprofessionals                $150 to $280

FTI Consulting received from the Debtor on February 4, 2020 a
retainer of $75,000.

FTI Consulting will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Alan Boyko, a partner of FTI Consulting, Inc., assured the Court
that the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtor and its estates.

FTI Consulting can be reached at:

     Alan Boyko
     FTI CONSULTING, INC.
     999 17th Street, Suite 700
     Denver, CO 80202
     Tel: (303) 689-8800
     Fax: (303) 689-8803

                     About Hopedale Mining

Hopedale Mining, LLC and its affiliates are diversified coal
producers. They produce, process and sell coal of various steam and
metallurgical grades from multiple coal-producing basins in the
United States. They market steam coal primarily to electric utility
companies as fuel for their steam powered generators. The companies
have a geographically diverse asset base with coal reserves located
in Central Appalachia, Northern Appalachia, the Illinois Basin and
the Western Bituminous region.

On July 22, 2020, Hopedale Mining sought protection under Chapter
11 of the Bankruptcy Code (Bankr. S.D. Ohio Lead Case No.
20-12043). At the time of the filing, Hopedale Mining had estimated
assets of between $10 million and $50 million and liabilities of
between $1 million and $10 million.

Judge Guy R. Humphrey oversees the cases.

The Debtors tapped Frost Brown Todd LLC as their bankruptcy
counsel, Cambio Group LLC as restructuring advisor, Energy Ventures
Analysis Inc. as financial advisor, FTI Consulting Inc. as
bankruptcy consultant, and Epiq Corporate Restructuring LLC as
claims and noticing agent.


HOWARD HUGHES: S&P Rates New $750MM Senior Unsecured Notes 'BB-'
----------------------------------------------------------------
S&P Global Ratings assigned its 'BB-' issue-level rating and '2'
recovery rating to The Howard Hughes Corp.'s proposed $750 million
senior unsecured notes due 2028. The '2' recovery rating indicates
S&P's expectation of meaningful (70%-90%; rounded estimate: 85%)
recovery in the event of payment default. S&P expects the company
to use the proceeds from this offering in addition to cash or cash
equivalents, for general corporate purposes, including the
repayment of certain existing debt.



HUA WEI INC: Files for Chapter 7 Bankruptcy in Houston
------------------------------------------------------
The Houston Business Journal reports that Hua Wei Inc. filed for
voluntary Chapter 7 bankruptcy protection June 17, 2020, in the
Southern District of Texas. The debtor listed an address of 707 W.
Main St., League City, and is represented in court by attorney
Stewart Lin. Hua Wei Inc. listed assets up to $9,120 and debts up
to $136,590. The filing's largest creditor was listed as Patrocinio
Diaz with an outstanding claim of $48,663.




INNODRILL LLC: Files for Chapter 7 Bankruptcy in Houston
--------------------------------------------------------
The Houston Business Journal reports that Innodrill LLC filed for
voluntary Chapter 7 bankruptcy protection April 29, 2020, in the
Southern District of Texas. The debtor listed an address of 2510
Wehring Road, Rosenberg, and is represented in court by attorney
Ross Spence. Innodrill LLC listed assets up to $60,328 and debts up
to $110,196. The filing's largest creditor was listed as Ace
Innovation Holding BV with an outstanding claim of $104,159.


ION GEOPHYSICAL: Incurs $5.17 Million Net Loss in Second Quarter
----------------------------------------------------------------
Ion Geophysical Corporation filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q, disclosing a net loss
of $5.17 million on $22.73 million of total net revenues for the
three months ended June 30, 2020, compared to a net loss of $8.29
million on $41.77 million of total net revenues for the three
months ended June 30, 2019.

For the six months ended June 30, 2020, the Company reported a net
loss of $7.51 million on $79.14 million of total net revenues
compared to a net loss of $29.53 million on $78.73 million of total
net revenues for the same period in 2019.

As of June 30, 2020, the Company had $236.23 million in total
assets, $280.34 million in total liabilities, and a total deficit
of $44.11 million.

Net cash provided by operating activities was $23.3 million in the
second quarter 2020 compared to net cash used in operating
activities of $1.1 million in the second quarter 2019.  The Company
reported Adjusted EBITDA of $0.2 million for the second quarter
2020, a decrease from $7.3 million one year ago.

At quarter close, the Company's total liquidity of $71.3 million
consisted of $62.5 million of cash (including net revolver
borrowings of $22.5 million) and $8.8 million of remaining
available borrowing capacity under the revolving credit facility.
Total liquidity increased by $17.5 million compared to the first
quarter 2020.  In response to the market uncertainty from the
COVID-19 pandemic and lower oil and gas prices, the Company drew
under its credit facility during the first quarter 2020, of which
$22.5 million remains outstanding and in the Company's cash
balances as of June 30, 2020.

"Our second quarter revenues were in line with our expectations and
the broader oilfield services market," said Chris Usher, ION's
president and chief executive officer.  "Although commodity prices
rebounded significantly, the sharp decline earlier this year
triggered E&P companies to reduce 2020 budgets, which tends to
disproportionately impact discretionary purchases such as seismic
data sales.  By quickly scaling our asset light business to meet
anticipated demand, we mitigated some of the near-term impacts to
the bottom line and cash position.

"Despite unprecedented market conditions, our first half revenues
are higher than or consistent with 2014-2019 results.  Liquidity
improved significantly from $54 million to $71 million.  Cash
increased by $24 million (excluding net revolver borrowings)
primarily from collecting accounts receivables related to the
strong first quarter sales and realizing near full benefits of cost
reductions made earlier this year.  In April, we scaled back our
flexible cost structure by another $18 million for the remaining
nine months of 2020, building on the over $20 million of permanent
cost savings announced in January.  During the quarter, we received
$7 million of government relief to prevent further reducing
headcount, which we expect will be entirely forgiven.

"We are laser focused on executing our strategy and delivering
better results to shareholders.  In spite of reduced offshore
activity and COVID-19 travel challenges, I'm pleased we garnered
commercial support and permits for a new 3D multi-client program in
the North Sea.  While we expect to acquire the majority of the
program next summer, we may start an initial phase later this year
to avoid disruptions around large windfarm installations.  We
continued to build on our highly successful portfolio of low cost,
high return reimaging programs with a new program in Mauritania.
The global 2D data collaboration with PGS is progressing well and
comes at an opportune time as E&P companies are looking for more
efficient ways to identify lower cost prospects to rebalance their
portfolios.  In the ports and harbors space, we continue to receive
excellent feedback on how Marlin SmartPort is optimizing
operations.  Our concerted sales and marketing campaign generated
several promising digitalization opportunities globally and we are
in the midst of rolling out new Marlin SmartPort trials in Europe
and Africa.

"Thankfully, we have had very few documented COVID-19 cases among
our staff worldwide, and I am very pleased with the success of our
remote operations.  The shift to new digital mediums has elevated
client engagement and expanded our networks.  We continue to see
strong uptake of new technology solutions that enable remote
offshore operations management.

"I believe we are better positioned to mitigate some of the
near-term impacts of the market disruption given our improved cash
position, lower cost basis and strategy execution progress.  While
the second half of 2020 will remain challenging, we expect
continued improvement in E&P market dynamics unless there is a
second major wave of COVID-19."

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

                     https://is.gd/xYiudT

                           About ION

Headquartered in Houston, Texas, ION -- http://www.iongeo.com/--
is an innovative, asset light global technology company that
delivers powerful data-driven decision-making offerings to offshore
energy, ports and defense industries.  The Company is entering a
fourth industrial revolution where technology is fundamentally
changing how decisions are made. Decision-making is shifting from
what was historically an art to a science.  

ION incurred net losses of $47.21 million in 2019, $70.40 million
in 2018, and $29.38 million in 2017. As of Dec. 31, 2019, the
Company had $233.2 million in total assets, $267.8 million in total
liabilities, and a total deficit of $34.63 million.

ION Geophysical received a written notice from the New York Stock
Exchange on March 30, 2020, that the Company is not in compliance
with the continued listing standards set forth in Section 802.01B
of the NYSE Listed Company Manual.  ION is considered below
criteria established by the NYSE for continued listing because its
average market capitalization has been less than $50 million over a
consecutive 30 trading-day period, and at the same time its last
reported stockholders' equity was below $50 million. The Company's
market capitalization was above $50 million prior to the
precipitous stock market decline that was triggered by the COVID-19
pandemic.

                          *    *    *

As reported by the TCR on March 2, 2020, S&P Global Ratings
affirmed the 'CCC+' issuer credit rating on ION Geophysical.  The
rating agency revised the outlook to negative from stable.  "Our
outlook revision to negative reflects the company's need to
refinance its second-lien notes due in December 2021 as capital
markets for oil and gas service companies remain challenging," S&P
said.


J.C. PENNEY: Closes Bay Shore, NY Location
------------------------------------------
Greater BayShore reports that J.C. Penney will close one location
in Bay Shore, New York.

Another round of store closings of J.C. Penney locations, including
shutting the one at Bay Shore's Westfield South Shore mall, was
announced last week.

The company, which filed Chapter 11 bankruptcy protection in May,
released a plan to close 135 stores on June 17 and added an
additional 13 closures on June 22.

The popular retailer, originally founded in 1902, began closing
locations last year such as the one at Smith Haven Mall in Lake
Grove.

Over the next few weeks, the shuttering locations will have closing
sales, which could last 10-16 weeks, according to a report by
Newsday.

While the last day of operation in Bay Shore wasn't readily
available, the company says all sales will be final at this store
beginning July 3.

After the doors are shut for good there, the only Long Island
location remaining will be at the Roosevelt Field Mall in Garden
City.

                       About J.C. Penney

J.C. Penney Company, Inc. -- http://www.jcpenney.com/-- is an
apparel and home retailer, offering merchandise from an extensive
portfolio of private, exclusive, and national brands at over 850
stores and online. It sells clothing for women, men, juniors, kids,
and babies.

On May 15, 2020, J.C. Penney announced that it has entered into a
restructuring support agreement with lenders holding 70% of its
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, J.C. Penney 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). At the time of the filing, J.C. Penney disclosed assets
of between $1 billion and $10 billion and liabilities of the same
range.

Judge David R. Jones oversees the cases.

The Debtors have tapped Kirkland & Ellis and Jackson Walker, LLP as
legal counsel; Katten Muchin Rosenman, LLP as special counsel;
Lazard Freres & Co. LLC as investment banker; AlixPartners, LLP as
restructuring advisor; and KPMG, LLP as tax consultant. Prime Clerk
is the claims agent, maintaining the page
http://cases.primeclerk.com/JCPenney  

A committee of unsecured creditors has been appointed in Debtors'
Chapter 11 cases.  The committee is represented by Cole Schotz,
P.C., and Cooley, LLP.


K & L TRAILER: Files for Chapter 11 Bankruptcy
----------------------------------------------
Clarissa Hawes, writing for Freightwaves, reports that K & L
Trailer Sales and Leasing Inc. (K & L Sales) of Knoxville,
Tennessee, recently filed for Chapter 11 bankruptcy protection.

The family-owned business, opened in 1994, employs 23 people. The
company sells new and used trailers, including dry van, reefer,
flatbed and tankers, among others.

K & L Sales also sells parts and operates a trailer repair shop.
In its filing with the U.S. District Court for the Eastern District
of Tennessee, it lists assets between $1 million and $10 million
and liabilities ranging from $10 million to $50 million. It lists
up to 49 creditors in its bankruptcy filing.

K & L Sales has filed a motion with U.S. Bankruptcy Judge Suzanne
H. Bauknight to access its cash collateral to continue operating.

In the filing, K & L claims it has a "reasonable possibility for
successful reorganization and believes that its operations will
have positive cash flow" if allowed to use its prepetition cash
collateral.

Kris Fellhoelter, president of K & L Sales, did not respond to
FreightWaves' request for comment about the bankruptcy filing.
Neither did the company’s attorney, Maurice K. Guinn of Gentry,
Tipton and McLemore PC of Knoxville.

                      About K & L Trailer

K & L Trailer Sales and Leasing is a family-owned business
specializing in the sale, service and leasing of trailers.  It
carries Trailstar, Pitts Trailers, Manac, Reitnouer, Transcraft,
Eager Beaver and ITI trailers.

K & L Trailer Sales and Leasing sought protection under Chapter 11
of the Bankruptcy Code (Bankr. E.D. Tenn. Case No. 20-31619) on
June 29, 2020.  At the time of the filing, the Debtor had estimated
assets of between $1 million and $10 million and liabilities of
between $10 million and $50 million.  Judge Suzanne H. Bauknight
oversees the case.

Gentry, Tipton and Mclemore, PC is Debtor's legal counsel.

Gary M. Murphey was appointed as Debtor's Chapter 11 trustee.  He
is represented by Bradley Arant Boult Cummings.


KADMON HOLDINGS: Posts $27.7 Million Net Loss in Second Quarter
---------------------------------------------------------------
Kadmon Holdings, Inc., filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q, disclosing a net loss
attributable to common stockholders of $27.67 million on $448,000
of total revenue for the three months ended June 30, 2020, compared
to net income attributable to common stockholders of $8.65 million
on $226,000 of total revenue for the three months ended June 30,
2019.

For the six months ended June 30, 2020, the Company reported a net
loss attributable to common stockholders of $57.48 million on $7.18
million of total revenue compared to net income attributable to
common stockholders of $11.73 million on $467,000 of total revenue
for the six months ended June 30, 2019.

As of June 30, 2020, the Company had $213.24 million in total
assets, $49.98 million in total liabilities, and $163.26 million in
total stockholders' equity.

At June 30, 2020, the Company's cash and cash equivalents totaled
$169.8 million, compared to $139.6 million at Dec. 31, 2019.  The
increase reflects $50.0 million in gross proceeds the Company
accessed through its At-The-Market facility along with $15.5
million in non-dilutive financing the Company accessed through the
divestiture of 1.1 million ordinary shares of MeiraGTx Holdings
plc; both transactions took place in May 2020.  As of June 30,
2020, the Company held approximately 1.0 million ordinary shares of
MeiraGTx Holdings plc, a clinical-stage gene therapy company.  The
increase in cash and cash equivalents related to these transactions
was partially offset by cash used in operating activities of $37.5
million during the six months ended June 30, 2020.

"Following positive topline results from the primary analysis of
the ROCKstar pivotal trial of belumosudil in cGVHD announced in May
2020, we have had an extremely busy and productive quarter. We are
preparing our New Drug Application for belumosudil, which remains
on track for submission in the fourth quarter of this year," said
Harlan W. Waksal, M.D., president and CEO of Kadmon. "We believe
the ROCKstar data continue to demonstrate the promise of
belumosudil in cGVHD, and as such we are scaling up our launch
preparation activities in anticipation of potential approval.
Following the raise of $50 million this quarter through our
At-The-Market facility, we are well capitalized through the NDA
filing, approval and launch of belumosudil."

Dr. Waksal continued, "Furthermore, we were pleased to announce
this quarter that the first patient was dosed in a Phase 1 clinical
trial of KD033, our novel anti-PD-L1/IL-15 immuno-oncology fusion
protein, in patients with metastatic or locally advanced solid
tumors.  This is an important milestone for our biologics platform
and we look forward to sharing key updates as the trial advances."

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

                      https://is.gd/aOFaBx

                     About Kadmon Holdings

Based in New York, Kadmon Holdings, Inc. -- http://www.kadmon.com/
-- is a clinical-stage biopharmaceutical company that discovers,
develops and delivers transformative therapies for unmet medical
needs.  The Company's clinical pipeline includes treatments for
immune and fibrotic diseases as well as immuno-oncology therapies.


Kadmon Holdings recorded a net loss attributable to common
stockholders of $63.43 million for the year ended Dec. 31, 2019,
compared to a net loss attributable to common stockholders of
$56.26 million for the year ended Dec. 31, 2018.  As of March 31,
2020, the Company had $181.78 million in total assets, $43.01
million in total liabilities, and $138.77 million in total
stockholders' equity.

BDO USA, LLP, in New York, New York, the Company's auditor since
2010, issued a "going concern" qualification in its report dated
March 5, 2020, citing that the Company has incurred recurring
losses from operations and expects such losses to continue in the
future.  These factors raise substantial doubt about the Company's
ability to continue as a going concern.


KHAN REAL: Taps Patten Peterman as Legal Counsel
------------------------------------------------
Khan Real Estate, LLC seeks approval from the U.S. Bankruptcy Court
for the District of Montana to employ Patten, Peterman, Bekkedahl &
Green, PLLC as its legal counsel.

The professional services that the firm will render include general
counseling and local representation before the bankruptcy court in
connection with Debtor's Chapter 11 case.

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

     James A. Patten, attorney                $350
     Molly S. Considine, attorney             $250
     Other attorneys                   $175 - $350
     Diane S. Kephart, paralegal              $160
     April J. Boucher, paralegal              $135
     Phyllis Dahl, paralegal                  $135
     Leanne Beatty, paralegal                 $120
     Tiffany Bell, paralegal                  $120

Molly Considine, Esq., an associate at Patten Peterman, disclosed
in court filings that the firm is a "disinterested person" within
the meaning of Section 101(14) of the Bankruptcy Code.

The firm can be reached through:
     
     James A. Patten, Esq.
     Molly S. Considine, Esq.
     Patten, Peterman, Bekkedahl & Green, PLLC
     2817 2nd Avenue North, Ste. 300
     P.O. Box 1239
     Billings, MT 59103-1239
     Telephone: (406) 252-8500
     Facsimile: (406) 294-9500
     Email: apatten@ppbglaw.com
            mconsidine@ppbglaw.com

                      About Khan Real Estate

Khan Real Estate LLC is a single asset real estate (as defined in
11 U.S.C. Section 101(51B)).  Its principal assets are located in
Billings, Mont., having an appraised value of $1.69 million.

Khan Real Estate sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Mont. Case No. 20-10140) on July 27,
2020. The petition was signed by Mansoor A. Khan, member.  At the
time of the filing, Debtor disclosed total assets of $1,870,711 and
total liabilities of $1,210,322.  Judge Benjamin P. Hursh oversees
the case.  Patten, Peterman, Bekkedahl & Green, PLLC is Debtor's
legal counsel.


KNOW LABS: Incurs $2.90 Million Net Loss in Third Quarter
---------------------------------------------------------
Know Labs, Inc., filed with the Securities and Exchange Commission
its Quarterly Report on Form 10-Q, disclosing a net loss of $2.90
million on $0 of revenue for the three months ended June 30, 2020,
compared to a net loss of $2.15 million on $381,270 of revenue for
the three months ended June 30, 2019.

For the nine months ended June 30, 2020, the Company reported a net
loss of $9.25 million on $121,939 of revenue compared to a net loss
of $4.36 million on $1.58 million of revenue for the nine months
ended June 30, 2019.

As of June 30, 2020, the Company had $5.04 million in total assets,
$3.80 million in total current liabilities, $825,000 in total
non-current liabilities, and $416,503 in total stockholders'
equity.

Net cash used in operating activities was $2,666,115, $3,104,035
and $1,117,131 for the nine months ended June 30, 2020 and the
years ended Sept. 30, 2019 and 2018, respectively.  During the nine
months ended June 30, 2020 and 2019, the Company incurred non-cash
expenses of $6,613,451 and $2,407,135.

The Company anticipates that it will record losses from operations
for the foreseeable future.  As of June 30, 2020, the Company's
accumulated deficit was $51,654,252.  The Company has limited
capital resources, and operations to date have been funded with the
proceeds from private equity and debt financings and loans from
Ronald P. Erickson, the Company's Chairman of the Board and interim
chief financial officer, or entities with which he is affiliated.
The Company said these conditions raise substantial doubt about its
ability to continue as a going concern.  The audit report prepared
by the Company's independent registered public accounting firm
relating to its consolidated financial statements for the year
ended Sept. 30, 2019 includes an explanatory paragraph expressing
the substantial doubt about the Company's ability to continue as a
going concern.

Know Labs said, "The Company believes that its cash on hand and
received since June 30, 2020 will be sufficient to fund our
operations through June 30, 2021.  The Company needs additional
financing to implement our business plan and to service our ongoing
operations and pay our current debts.  There can be no assurance
that we will be able to secure any needed funding, or that if such
funding is available, the terms or conditions would be acceptable
to us.  If we are unable to obtain additional financing when it is
needed, we will need to restructure our operations, and divest all
or a portion of our business.  We may seek additional capital
through a combination of private and public equity offerings, debt
financings and strategic collaborations.  Debt financing, if
obtained, may involve agreements that include covenants limiting or
restricting our ability to take specific actions, such as incurring
additional debt, and could increase our expenses and require that
our assets secure such debt.  Equity financing, if obtained, could
result in dilution to the Company's then-existing stockholders
and/or require such stockholders to waive certain rights and
preferences.  If such financing is not available on satisfactory
terms, or is not available at all, the Company may be required to
delay, scale back, eliminate the development of business
opportunities and our operations and financial condition may be
materially adversely affected."

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

                        https://is.gd/3um0ki

                          About Know Labs

Know Labs, Inc., was incorporated under the laws of the State of
Nevada in 1998.  Since 2007, the Company has been focused primarily
on research and development of proprietary technologies which can
be used to authenticate and diagnose a wide variety of organic and
non-organic substances and materials.  The Company's Common Stock
trades on the OTCQB Exchange under the symbol "KNWN."

Know Labs reported a net loss of $7.61 million for the year ended
Sept. 30, 2019, compared to a net loss of $3.26 million for the
year ended Sept. 30, 2018.

BPM LLP, in Walnut Creek, California, the Company's auditor since
2019, issued a "going concern" qualification in its report dated
Dec. 27, 2019, citing that the Company has sustained a net loss
from operations and has an accumulated deficit since inception.
These factors raise substantial doubt about the Company's ability
to continue as a going concern.


KOPIN CORPORATION: Incurs $1.14 Million Net Loss in Second Quarter
------------------------------------------------------------------
Kopin Corporation filed with the Securities and Exchange Commission
its Quarterly Report on Form 10-Q, disclosing a net loss of $1.14
million on $8.81 million of total revenues for the three months
ended June 27, 2020, compared to a net loss of $4.24 million on
$9.11 million of total revenues for the three months ended June 29,
2019.

For the six months ended June 27, 2020, the Company reported a net
loss of $4.80 million on $16.69 million of total revenues compared
to a net loss of $15.56 million on $14.63 million of total revenues
for the six months ended June 29, 2019.

As of June 27, 2020, the Company had $37.63 million in total
assets, $10.98 million in total current liabilities, $248,384 in
total noncurrent contract liabilities and asset retirement
obligations, $1.24 million in operating lease liabilities, $1.10
million in other long-term obligations, and $24.06 million in total
stockholders' equity.

Research and development expenses for the second quarter of 2020
were $2.2 million compared to $3.3 million for the second quarter
of 2019, a 33% decrease year over year.  The decline in R&D
expenses is due in part to the licensing and sale of the Company's
Golden-I Infinity and Solos technologies as part of its
commercialization strategy which the Company commenced in 2019. In
fiscal year 2020, the Company expects its R&D expenditures to
primarily focus on its display products, overlay weapon sights and
organic light emitting diode display technologies.

Selling, general and administrative expenses were $2.9 million for
the second quarter of 2020, compared to $5.4 million for the second
quarter of 2019, a 46% decrease year over year.  SG&A decreased for
the three and six months ended June 27, 2020 as compared to the
three and six months ended June 29, 2019 primarily due to a
decrease in compensation expenses including stock-based
compensation, bad debt expense, professional fees, information
technology expenses, travel and accretion of the NVIS contingent
consideration.

Net cash used in operating activities for the second quarter ended
June 27, 2020 was approximately $2.9 million.  Kopin's cash and
equivalents and marketable securities were approximately $15.3
million at June 27, 2020 as compared to $21.8 million at December
28, 2019.

"We are very pleased that strong demand for our products continued
in the second quarter with our total product revenues growing by
50% year over year," said Dr. John C.C. Fan, CEO of Kopin."
Revenue growth was driven by shipments for current defense
production programs along with funded development programs tied to
longer term revenue opportunities.  Our strong pipeline of defense
development programs, which are in support of soldiers, fixed-wing
and rotary aircraft and armored vehicles, continues to expand and
is now the strongest in Kopin's history. While some of these
development programs may not contribute significantly to product
revenue for the next year or two, or perhaps not all, we expect the
strength in our defense revenues to continue."

Dr. Fan continued, "From an operational standpoint, our ongoing
initiatives to improve execution and manufacturing efficiencies are
starting to show results, and we achieved further progress in
reducing our cost structure.  In the second quarter R&D and SG&A
were lower by 41% versus the second quarter of 2019, with current
internal R&D investments primarily focused on our Organic Light
Emitting Diode (OLED) displays.  We recently announced our latest
achievement in the Lightning 2.6K x 2.6K OLED display (2560 x 2560
resolution) based on our duo-stack, ColorMaxTM technology, which
demonstrated breakthrough color fidelity (> 115% sRGB) combined
with high efficiency (> 6 candela per ampere) and brightness
(> 1000 nits).  In addition to shipping our first production
order of OLED backplane wafers in the quarter, we also received a
follow-on order.

"Our continued success would not be possible without the dedication
of our employees.  Kopin has remained open and operating during the
COVID 19 lockdown due to the essential nature of our
defense-related business.  I believe we have done a great job
coordinating the activities of our employees, both working on-site
and remotely.  While we continue to take additional precautions,
our AMLCD products are made in a Class 10 cleanroom where our
employees have always been gowned and worn masks and gloves,
providing important protection."

Dr. Fan concluded, "While we continue to manage through these
unusual times, we believe our strong defense business, our full
suite of micro displays, OLED micro displays development activities
and continued emphasis on efficiently managing our cost structure
will enable us to continue our momentum into the second half of
2020 and beyond."

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

                     https://is.gd/ORz4Vw

                         About Kopin

Kopin Corporation -- http://www.kopin.com/-- is a developer and
provider of transmissive and reflective active matrix liquid
crystal and organic light emitting diode (OLED) micro displays for
integration into systems for military, industrial and consumer
products.  Kopin's technology portfolio includes ultra-small
displays, optics, and low-power ASICs.

Kopin reported a net loss of $29.47 million for the year ended Dec.
31, 2019, a net loss of $34.48 million for the year ended Dec. 31,
2018, and a net loss of $25.38 million for the year ended Dec. 31,
2017.

RSM US LLP, in Stamford, Connecticut, the Company's auditor since
2019, issued a "going concern" qualification in its report dated
March 11, 2020, citing that the Company has suffered recurring
losses from operations and recurring negative operating cash flows
that raise substantial doubt about its ability to continue as a
going concern.


LAM ATELIER: Files for Chapter 7 Bankruptcy in Houston
------------------------------------------------------
The Houston Business Journal reports that Lam Atelier filed for
voluntary Chapter 7 bankruptcy protection April 9, 2020, in the
Southern District of Texas. Represented in court by attorney Kasey
Ann Niederhofer, the debtor listed an address of 1200 Missouri St.,
Houston. Lam Atelier listed assets ranging from $0 to $50,000 and
debts ranging from $100,001 to $500,000. The filing did not
identify a largest creditor.


LARRY FREDERICK: Son Buying Martinsburg Assets for $2.6 Million
---------------------------------------------------------------
Larry Frederick and Sharon Frederick ask the U.S. Bankruptcy Court
for the Western District of Pennsylvania to authorize their sale of
(a) the following parcels of real property along with the
improvements and any buildings or structures located thereon: (i)
1098 Frederick Road, Martinsburg, Pennsylvania, Blair County Map
Number 20.00-09..-009.00-000, Acreage - 161.320; (ii) 1219
Frederick Road, Martinsburg, Pennsylvania, Blair County Map Number
20.00-09..-008.00-000, Acreage - 66.74; and (iii) 62 Acre Parcel
off of Kensinger Road, Map Number 20.00-12..-001.00-000; and (b)
various pieces of farming equipment listed in Exhibit B and
livestock listed in Exhibit C, to Eric and Jennifer Frederick
pursuant to their Purchase and Sale Agreement dated May 20, 2020
for $2.6 million.

The Buyer is the son of the Joint Debtors.  Jennifer Frederick is
their daughter-in-law.  The proposed consideration of $2.6 million
is a number that the primary lienholders, M&T Bank and the United
States Farm Service Agency ("FSA"), agreed to accept from a
third-party purchaser ("Prior Third Party Purchaser") for the same
assets that the Joint Debtors propose to sell in exchange for their
agreement to release their liens in those assets.

M&T has a first position lien on the real property and equipment
while the FSA has a first position lien on the livestock.  There is
no equity in the assets beyond the liens of M&T and the FSA.  

For purposes of full disclosure, the Prior Third Party Purchaser's
son is married to the daughter of the Joint Debtors.  The Prior
Third Party Purchaser is no longer interested in purchasing the
aforementioned assets for $2.6 million.

The Joint Debtors submit that the proposed consideration is fair
and reasonable especially in light of the depressed market for
Pennsylvania dairy farms.  Exhibit E is a letter from a reputable
broker explaining the state of the market for these assets.

The Purchase and Sale Agreement contains a financing contingency.
However, as of the date of the filing of the within motion, Eric
and Jennifer Frederick have been approved for the necessary
financing.  

The Respondents which may hold liens, claims and encumbrances
against the assets the Joint Debtors seek to sell are as follows:
M&T Bank; The United States of America Farm Service Agency;
Cargill, Inc.; Susquehanna Commercial Finance, Inc.; Growmark FS,
LLC; FS Financial Services, LLC; Wells Fargo Vendor Financial
Services, LLC; Blair County Tax Claim Bureau; The Pennsylvania
Department of Revenue, and The Internal Revenue Service.

Through the Motion, the Joint Debtors propose to transfer the
liens, claims and encumbrances to the proceeds of the sale in
accordance with their priority, if and to the extent that they may
be determined to be valid liens against the real property,
equipment and livestock that the Joint Debtors are proposing to
sell.  

The assets are being sold "as-is, where-is."

The Joint Debtors believe, and therefore aver that the proposed
sale is fair and reasonable and acceptance and approval of the same
is in the best interest of the Estate.

A copy of the Agreement and the Exhibits is available at
https://tinyurl.com/yac7n29y from PacerMonitor.com free of charge.

Larry Frederick and Sharon Frederick sought Chapter 11 protection
(Bankr. W.D. Pa. Case No. 18-70870) on Dec. 20, 2018.  The Debtors
tapped Robert O. Lampl, Esq., at Robert O. Lampl Law Office, as
counsel.


LAURA'S SHOPPE: Gets Initial CCAA Stay Order
--------------------------------------------
The Commercial Division of the Quebec Superior Court of the
District of Montreal has issued an order pursuant the Companies'
Creditors Arrangement Act.  The order provided a stay of
proceedings against Laura's Shoppe (P.V.) Inc. until Aug. 10, 2020.
Pursuant to the Initial CCAA Order, KPMG Inc. was appointed
Monitor of the Company.

The company said it seeks the protection of the Court pursuant to
the CCAA in order to obtain the breathing room it requires in order
to restructure and reorganize its affairs, with a view to
maximizing the value of its assets and business, to provide it with
the requisite stability to ultimately continue as a going concern
for the general benefit of its stakeholders, as a whole.

The monitor can be reached at:

   KPMG Inc.
   600 De Maisonneuve Blvd. West, Suite 1500
   Tel: 514-840-2311
   Fax: 514-840-2187
   Email: laura@kpmg.ca

Counsel for the Company:

   Fishman Flanz Meland Paquin LLP
   Attn: Mark E. Meland
         Tina Silverstein
   1250 Rene-Levesque Blvd. West, Suite 4100
   Montreal, Québec H3B 4W8
   Tel: 514-932-4100
   Email: mmeland@ffmp.ca
          tsilverstein@ffmp.ca

Counsel for the Monitor:

   Stikeman Elliott LLP
   1155 Rene-Levesque Blvd. West, 41st Floor
   Montreal, Quebec H3B 3V2
   Tel: 514-397-3000
   Fax: 514-397-3222

A copy of the Initial Order and the relevant materials pertaining
to the CCAA Proceedings are available on the Monitor's website:
https://home.kpmg/ca/laura

Laura's Shoppe Inc. -- http://www.laura.ca/-- is a Canadian
women's wear boutique chain founded in 1930 by Laura Wolstein, the
first Laura store was located on St. Hubert Street, Montreal and
later moved to Verdun Avenue in Verdun, a suburb of Montreal.


LEVEL 3 FINANCING: Fitch Rates $840MM Sr. Unsecured Notes 'BB'
--------------------------------------------------------------
Fitch Ratings has assigned a 'BB'/'RR2' rating to Level 3
Financing, Inc.'s offering of $840 million of senior unsecured
notes due 2029. Level 3 Financing is an indirect wholly owned
subsidiary of CenturyLink, Inc. Net proceeds from the offering,
together with cash on hand, are expected to be used for general
corporate purposes, including the redemption of the remaining $140
million of Level 3 Financing 5.625% senior unsecured notes due 2023
and all $700 million of the 5.125% senior unsecured notes due
2023.

KEY RATING DRIVERS

Managing Effects of the Coronavirus Pandemic: Fitch believes the
telecom sector, including CenturyLink, will be more resilient to a
downturn from the coronavirus pandemic than other sectors, with the
potential for modest declines in revenue. Fitch expects CenturyLink
to continue to benefit from cost-reduction programs initiated in
2019 following early achievement of synergies from the Level 3
merger.

Fitch does not expect material reductions in capital spending,
although success-based capex is likely to decline as demand
weakens. Fitch believes the company is likely to prioritize
spending in areas that will enhance its competitive position.

Pandemic Increases Near-Term Demand: The operating environment
changes created by the pandemic have led to sharp increases in
demand for connectivity for work-at-home, remote learning and home
entertainment, as well as enterprises spending on business
continuity. Over time, the positive effects are likely to be at
least partly offset by economic weakness, given the rise in
unemployment that has been pronounced in several sectors.

Prioritizing Debt Reduction: CenturyLink reduced its common
dividend in February 2019, cutting annual payments to approximately
$1.08 billion from $2.30 billion. The additional annual FCF of more
than $1.2 billion is being directed to a faster pace of debt
repayment over three years. The company also announced a commitment
to a lower and narrower range of net target leverage. Over the next
few years, the company is targeting net debt/adjusted EBITDA of
2.75x-3.25x, down from 3.0x-4.0x. Fitch is encouraged by the
revised capital-allocation policies and believes this will better
position the company in the long term.

The company's debt reduction strategy is largely on track relative
to the company's original guidance to reach its target range in
early 2022. However, management indicates the uncertainty posed by
the coronavirus pandemic may lead to a delay of up to a couple of
quarters to reach its target range.

Cost Reductions: Operational initiatives set in motion in early
2019 targeted an annualized $800 million-$1 billion of additional
EBITDA-improving initiatives over three years at a cost of $450
million-$650 million. CenturyLink says it achieved a run rate of
$620 million in annualized cost savings in 2Q20, after exiting 2019
at a run rate of $430 million. CenturyLink indicated these
initiatives, combined with faster debt reduction, will enable the
company to reach its target range within three years.

Execution Risk: Fitch believes the dividend-reduction and
EBITDA-improvement initiatives signal support for the credit
profile, although the EBITDA initiatives are not without execution
risk. Fitch believes significant debt reductions are achievable,
but some execution risk remains in reaching the full amount
targeted by CenturyLink, as part of the sustained FCF will depend
on execution of EBITDA-improvement initiatives.

Key Competitor in Business Services: CenturyLink operates in an
industry where scale is a key factor, and it is a large competitor
overall and the second-largest operator serving business customers,
after AT&T Inc. (A-/Stable). It is modestly larger than the
business customer operations of Verizon Communications Inc.
(A-/Stable). CenturyLink's network capabilities, in particular a
strong metropolitan network, and a broad product and service
portfolio emphasizing IP-based infrastructure and managed services
provide the company with a solid base to grow enterprise segment
revenue.

Secular Challenges Facing Telecoms: In Fitch's view, CenturyLink
continues to face secular challenges similar to other wireline
operators in its residential business. Following the acquisition of
Level 3, the consumer operation became a much smaller part of the
overall business and accounts for approximately one-quarter of
revenue, down from 35% in 2016. Fitch expects this share to
continue to decline over time, given legacy revenue trends and a
more targeted investment strategy in the segment.

Parent-Subsidiary Relationship: Fitch links the ratings of
CenturyLink and Level 3 Parent, LLC, based on strong operational
and strategic ties.

DERIVATION SUMMARY

CenturyLink has a relatively strong competitive position based on
the scale and size of its operations in the enterprise/business
services market. In this market, CenturyLink has a moderately
smaller revenue position than AT&T and is slightly larger than
Verizon. All three companies have an advantage with national or
multinational companies, given extensive footprints in the U.S. and
abroad. CenturyLink also has a larger enterprise business that
notably differentiates it from other wireline operators, such as
Windstream Services, LLC and Frontier Communications Corporation.

AT&T and Verizon maintain lower financial leverage, generate higher
EBITDA margins and FCF, and have wireless offerings providing more
service diversification compared with CenturyLink. FCF improved at
CenturyLink due to the dividend reduction and cost synergies.

CenturyLink has lower exposure to the secularly challenged
residential market than wireline operators Frontier and Windstream.
Within the residential market, incumbent wireline operators face
wireless substitution and competition from cable operators with
facilities - based triple-play offerings, including Comcast Corp.
(A-/Stable) and Charter Communications Inc. Fitch rates Charter's
indirect subsidiary CCO Holdings, LLC 'BB+'/Stable. Cheaper
alternative offerings, such as voice over internet protocol and
over-the-top video services, provide additional challenges.

KEY ASSUMPTIONS

Fitch assumes revenues will decline in the midsingle digits in
2020, due to the effect of the coronavirus pandemic, with small and
medium businesses the slowest to recover over the forecast
horizon;

EBITDA margins are expected to be around 41% in 2020; cost
transformation improved EBITDA margins by 160bps in 2019, while
improvement in 2020 is expected to be just over half that amount;

EBITDA margins reach approximately 42% in 2021 and remain flat
thereafter;

Fitch's assumptions regarding additional cost savings approximate
the midpoint of the $800 million-$1 billion range targeted by the
company over 2019-2021, higher than Fitch's prior expectations,
given the $620 million annualized run rate CenturyLink achieved
exiting 2Q20;

Fitch expects capex to be approximately $3.7 billion for 2020,
toward the lower end of original, but now withdrawn, company
guidance of $3.6 billion-$3.9 billion;

Fitch assumes some lower success-based capex owing to expectations
for the macroeconomic environment;

FCF directed to deleveraging over the forecast horizon.

RATING SENSITIVITIES

Factors that Could, Individually or Collectively, Lead to Positive
Rating Action/Upgrade

  -- Gross leverage, defined as total debt with equity
credit/operating EBITDA, remaining at or below 3.0x, with FFO
leverage of 3.0x, while consistently generating positive FCF
margins in the midsingle digits;

  -- Demonstrating consistent EBITDA and FCF growth.

Factors that Could, Individually or Collectively, Lead to Negative
Rating Action/Downgrade

  -- A weakening of CenturyLink's operating results, including
deteriorating margins and consistent midsingle-digit or greater
revenue erosion brought on by difficult economic conditions or
competitive pressures the company is unable to offset through cost
reductions;

  -- Discretionary management decisions, including but not limited
to execution of M&A activity that increases gross leverage beyond
4.5x, with FFO leverage of 4.5x, in the absence of a credible
deleveraging plan.

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

Strong Liquidity: CenturyLink's cash and cash equivalents totaled
$1.763 billion at June 30, 2020, including cash used to redeem $1.2
billion of Level 3 Financing's outstanding notes on July 15, 2020.
Total debt as of June 30, 2020, pro forma for the repayment of debt
subsequent to the end of the quarter, was $33.2 billion before
finance leases, unamortized discounts, debt issuance costs and
other adjustments. On the same basis, actual quarter-end debt was
$34.4 billion and readily available cash totaled approximately $1.8
billion. Pro forma cash and debt has not been adjusted for the
planned Aug. 7, 2020 repayment of the remaining $300 million of
Qwest Corp.'s 6.875% notes due 2054.

CenturyLink has actively managed its debt structure over the past
18 months, reducing its debt maturities during 2020-2025 by
approximately $14 billion through repayment or by extending
maturities.

The credit agreement was amended and restated in January 2020. The
$2.2 billion senior secured revolving credit facility had $1.075
billion drawn as of June 30, 2020, with the amount temporarily high
partly due to borrowing to repay $973 million of outstanding
CenturyLink notes at maturity on April 1, 2020.

CenturyLink's secured credit facility benefits from secured
guarantees by Qwest Communications International, Inc.; Qwest
Services Corporation; CenturyTel Investments of Texas, Inc.; and
CenturyTel Holdings, Inc. A stock pledge is provided by Wildcat
HoldCo, LLC, the parent of Level 3 Parent, to the CenturyLink CTL
credit facility. The credit facility is guaranteed on an unsecured
basis by Embarq Corporation and Qwest Capital Funding, Inc. The
largest regulated subsidiary, Qwest Corporation, does not guarantee
CenturyLink's secured facility, nor does Level 3 Parent.

The CenturyLink senior secured notes are guaranteed by the same
subsidiaries that guarantee the senior secured credit facilities
and will be secured by the same collateral. CenturyLink
Communications, LLC was released as a guarantor of the senior
secured credit facility, which makes the notes pari passu with the
credit facility.

The secured revolving credit facility and Term Loan A limit
CenturyLink's gross debt/EBITDA to no more than 4.75x. The current
credit agreement requires cash interest coverage to be no less than
2.0x. The company is subject to an excess cash flow sweep of 50%,
with step downs to 25% and 0%, at total leverage of 3.5x and 3.0x,
respectively. The excess cash flow calculation provides credit for
voluntary prepayments and certain other investments.

Fitch estimates 2020 FCF, or cash flow from operations less capex
and dividends, will be $1.8 billion-2.0 billion. Fitch's
assumptions are modestly lower than CenturyLink's original 2020
post-dividend guidance of approximately $2.0 billion-$2.3 billion.
The company indicated capex could be $3.60 billion-$3.90 billion in
2020, with the low end of the range similar to the $3.63 billion
spent in 2019.

Remaining maturities in 2020 are nominal and consist of debt
amortization payments. Maturities in 2021 total approximately $2.4
billion.

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.


LIBBEY GLASS: Wins Final Court Bankruptcy Loan Approval
-------------------------------------------------------
Leslie Pappas, writing for Bloomberg News, reports that Libbey
Glass Inc. won final court approval for its $160 million bankruptcy
financing, overcoming objections from a Justice Department
bankruptcy watchdog over the treatment of $2.35 million in
executive bonuses.

The bonuses, paid to five key executives less than two weeks before
Libbey filed for bankruptcy, could be the subject of future
litigation that could eventually bring value to the estate, the
U.S. Trustee's Office said at a hearing.

Potential proceeds from lawsuits relating to the bonuses should be
"expressly unencumbered" in the loan documents and excluded from
the collateral package, the U.S. Trustee had said in an objection.

                   About Libbey Glass Inc.

Based in Toledo, Ohio, Libbey Inc. (NYSE American: LBY) is one of
the largest glass tableware manufacturers in the world. Libbey
operates manufacturing plants in the U.S., Mexico, China, Portugal
and the Netherlands. In existence since 1818, Libbey supplies
tabletop products to retail, foodservice and business-to-business
customers in over 100 countries. Libbey's global brand portfolio,
in addition to its namesake brand, includes Libbey Signature,
Master's Reserve, Crisa, Royal Leerdam, World Tableware, Syracuse
China, and Crisal Glass. In 2019, Libbey's net sales totaled $782.4
million.  For more information, visit http://www.libbey.com/  

Libbey Glass Inc. and 11 of its affiliates sought Chapter 11
protection (Bankr. D. Del. Lead Case No. 20-11439) on June 1, 2020.
In the petition signed by CEO Michael P. Bauer, Libbey Glass was
estimated to have $100 million to $500 million in assets and $500
illion to $1 billion in liabilities as of the bankruptcy filing.

The Hon. Laurie Selber Silverstein is the case judge.

Debtors tapped Latham & Watkins LLP and Richards, Layton & Finger,
P.A., as counsel; Alvarez & Marsal North America, LLC as financial
advisor; and Lazard Ltd as investment banker. Prime Clerk LLC is
the claims agent, maintaining the page
https://cases.primeclerk.com/libbey



LORI EARLEY: Files for Chapter 7 Bankruptcy in Houston
------------------------------------------------------
The Houston Business Journal reports that Lori Earley PLLC filed
for voluntary Chapter 7 bankruptcy protection June 5, 2020, in the
Southern District of Texas. The debtor listed an address of 1219 S.
Shepherd Drive, Houston, and is represented in court by attorney
Liza A. Greene. Lori Earley PLLC listed assets up to $17,532 and
debts up to $255,222. The filing's largest creditor was listed as
L.R. Karbalai with an outstanding claim of $223,650.


LSC COMMUNICATIONS: Committee Hires Cushman & Wakefield as Appraise
-------------------------------------------------------------------
The Official Committee of Unsecured Creditors of LSC
Communications, Inc., and its debtor-affiliates seeks authorization
from the U.S. Bankruptcy Court for the Southern District of New
York to retain Cushman & Wakefield, Inc., as real property
appraiser to the Committee.

The Committee requires Cushman & Wakefield to estimate the market
value of the fee simple interest, as if unencumbered by any leases,
of the twenty-five real property assets, identified in the
Engagement Letter, and prepare written appraisal reports for each
of the Identified Properties.

Cushman & Wakefield will be paid at these hourly rates:

   -- A flat fee equal to $190,500.00 for the Appraisal Services.

   -- Advisory Services provided to the Committee will be billed
      at Cushman & Wakefield's currently existing hourly rates of
      $325 to $800.

Cushman & Wakefield will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Richard Marchitelli, a partner of Cushman & Wakefield, Inc.,
assured the Court that the firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code and (a)
is not creditors, equity security holders or insiders of the
Debtors; (b) has not been, within two years before the date of the
filing of the Debtors' chapter 11 petition, directors, officers or
employees of the Debtors; and (c) does not have an interest
materially adverse to the interest of the estate or of any class of
creditors or equity security holders, by reason of any direct or
indirect relationship to, connection with, or interest in, the
Debtors, or for any other reason.

Cushman & Wakefield can be reached at:

     Richard Marchitelli
     CUSHMAN & WAKEFIELD, INC.
     5605 Carnegie Boulevard, Suite 100
     Charlotte, NC 28209
     Tel: (704) 916-4447
     Fax: (212) 412-9059
     E-mail: richard.marchitelli@cushwake.com

                   About LSC Communications

LSC Communications, Inc. -- http://www.lsccom.com/-- is a Delaware
corporation established in 2016 with its headquarters located in
Chicago, Illinois. The Company offers a broad range of traditional
and digital print products, print-related services, and office
products. The Company serves the needs of publishers,
merchandisers, and retailers worldwide, with a service offering
that includes e-services, logistics, warehousing and fulfillment
and supply chain management services. The Company prints magazines,
catalogs, directories, books, and some direct mail products, and
manufactures office products, including filing products, envelopes,
note-taking products, binder products, and forms. The Company has
offices, plants, and other facilities in 28 states, as well as
operations in Mexico, Canada, and the United Kingdom.

LSC Communications, Inc., based in Chicago, IL, and its
debtor-affiliates sought Chapter 11 protection (Bankr. S.D.N.Y.
Lead Case No. 20-10950) on April 13, 2020. In its petition, the
Debtor disclosed $1,649,000,000 in assets and $1,721,000,000 in
liabilities. The petition was signed by Andrew B. Coxhead, chief
financial officer.

The Debtors hire SULLIVAN & CROMWELL LLP as counsel; YOUNG CONAWAY
STARGATT & TAYLOR, LLP, as co-counsel; EVERCORE GROUP L.L.C., as
investment banker; ALIXPARTNERS LLP as restructuring advisor; and
PRIME CLERK LLC as notice, claims and balloting agent.



LUCKY BRAND: SPARC Is Lead Bidder in Bankruptcy Auction
-------------------------------------------------------
Lucky Brand Dungarees, LLC, the Los Angeles based designer and
retailer of iconic American denim and apparel announced today that
it has entered into a stalking horse asset purchase agreement with
SPARC Group LLC ("SPARC"), a leading global operator of lifestyle
brands including Aéropostale and Nautica, for the sale of
substantially all of the Company's operating assets.  In connection
with the transaction, ABG-Lucky LLC, a newly formed subsidiary of
Authentic Brands Group LLC, a brand development, marketing, and
entertainment company, which owns a global portfolio of
entertainment, media, and lifestyle brands will acquire all the
intellectual property assets of Lucky Brand. In addition to
entering into the asset purchase agreement with SPARC, the Company
and certain of its affiliates also entered into a "back-up" asset
purchase agreement for the sale of the Company's and such
affiliates' intellectual property and certain other assets to
ABG-Lucky LLC which will only come into effect if the asset
purchase agreement with SPARC terminates under certain
circumstances.

To facilitate the sale and reduce its debt burden caused by recent
challenges, including the COVID-19 pandemic, Lucky Brand has
initiated proceedings under Chapter 11 of the U.S. Bankruptcy Code
in the District of Delaware. Lucky Brand has received new financing
commitments from certain of its existing lenders that will provide
sufficient liquidity to fund the business through the closing of
the sale.

Lucky Brand will be operating its business in the ordinary course
during the Chapter 11 process, and the vast majority of its stores,
e-commerce platform, and wholesale business remain open to serve
customers. During Chapter 11, Lucky Brand and its advisors will
continue to explore potential sale transactions with other parties
to achieve the highest or otherwise best offer for the Company.

Matthew A. Kaness, appointed as Interim CEO in September 2019 and
also Executive Chairman in January 2020, said, "The COVID-19
pandemic has severely impacted sales across all channels. While we
are optimistic about the reopening of stores and our customers'
return, the business has yet to recover fully. We have made many
difficult decisions to preserve the Company's viability during
these unprecedented times. After considering all options, the Board
has determined that a Chapter 11 filing is the best course of
action to optimize the operations and secure the brand's long-term
success. We remain committed to our Associates, vendors, and
business partners and appreciate the continued support through this
process."

Lucky Brand has filed a number of customary motions with the U.S.
Bankruptcy Court seeking authorization to support its operations
during the process, including the authority to continue payment of
employee wages and maintain healthcare benefits.

                       About Lucky Brand

Founded in Los Angeles, California in 1990, Lucky Brand Dungarees,
LLC -- https://www.luckybrand.com/ -- is an apparel lifestyle brand
that designs, markets, sells, distributes, and licenses a
collection of contemporary premium fashion apparel under the "Lucky
Brand" name.

Lucky Brand and four of its affiliates sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. D. Tex. Lead Case No.
20-11768) on July 3, 2020.  The petitions were signed by
Christopher Cansiani, chief financial officer.  The Hon.
Christopher S. Sontch presides over the cases.

The Debtors were estimated to have assets of $100 million to $500
million and liabilities of $100 million to $500 million.

The Debtors tapped Young Conaway Stargatt & Taylor, LLP and Latham
& Watkins, LLP as legal counsel; Berkeley Research Group, LLC as
restructuring advisor; Houlihan Lokey Capital, Inc. as investment
banker; and Epiq Corporate Restructuring, LLC as claims and
noticing agent.


MARTONE AUTO: Trustee Hires David Dinoso as Special Counsel
-----------------------------------------------------------
Charles N. Persing, the Trustee of Martone Auto Collision, Inc.,
seeks authority from the U.S. Bankruptcy Court for the Southern
District of New York to employ David Dinoso, Esq., as special
counsel to the Trustee.

On February 11, 2020, the Debtor commenced this case by filing a
voluntary petition for relief under chapter 11 of the Bankruptcy
Code. On March 13, 2020, the Debtor filed an amended petition in
which it elected to proceed under subchapter V of chapter 11 of the
Bankruptcy Code. On March 17, 2020, the United States Trustee
appointed the Trustee to serve as subchapter V trustee pursuant to
section 1183(a) of the Bankruptcy Code.  By order dated June 15,
2020, the Court extended the deadline under Bankruptcy Code section
1189(b) for the Debtor to file a plan to Sept. 9, 2020.

Based on the Debtor's conduct of its bankruptcy case to date, the
Trustee believes that cause exists to seek dismissal or conversion
under section 1112(b) of the Bankruptcy Code.

The Trustee requires David Dinoso for the limited purpose of moving
to dismiss or convert the Debtor's case under section 1112(b) of
the Bankruptcy Code.

David Dinoso will be paid at these hourly rates of $170 to $350.

David Dinoso will also be reimbursed for reasonable out-of-pocket
expenses incurred.

David Dinoso, 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.

David Dinoso can be reached at:

     David Dinoso, Esq.
     11 Broadway, Suite 615
     New York, NY 10004
     Tel: (646) 397-7280
     E-mail: david@dinosolaw.com

                  About Martone Auto Collision

Martone Auto Collision, Inc., filed a Chapter 11 bankruptcy
petition (Bankr. S.D.N.Y. Case No. 20-22222) on Feb. 11, 2020,
disclosing under $1 million in both assets and liabilities.  The
Debtor is represented by Scott J. Goldstein, Esq., at the Law
Offices of Scott J. Goldstein, LLC.


MAX FINE FURNITURE: Aug. 19 Plan & Disclosure Hearing Set
---------------------------------------------------------
Pacific Western Bank filed with the U.S. Bankruptcy Court for the
Southern District of Texas, McAllen Division, an Emergency Motion
for Continuance of Final Hearing on Approval of Disclosure
Statement and Confirmation Hearing for Debtor Max Fine Furniture &
Appliances, Inc.

On June 30, 2020, Judge Eduardo V. Rodriguez granted the motion and
ordered that:

   * The evidentiary hearing to consider confirmation of the
Debtor's First Amended Chapter 11 Plan of Reorganization and final
approval of the disclosure statement corresponding to the First
Amended Plan is continued to Aug. 19, 2020 at 11:00 a.m.

   * The deadline for filing and serving written objections to
confirmation of the First Amended Plan, filing and serving written
objections to final approval of the First Amended Disclosure
Statement, and submitting written acceptances or rejections of the
First Amended Plan is Aug. 12, 2020.

A copy of the order dated June 30, 2020, is available at
https://tinyurl.com/yajdt9oo from PacerMonitor at no charge.

                   About Max Fine Furniture

Max Fine Furniture & Appliances,
Inc.--https://www.maxfinefurniture.com/ -- sells a wide selection
of bedroom, living room, dining room, leather, home office, kids
furniture and brand name mattresses.  It carries several brands,
including Ashley, Restonic Mattresses, and Best Chair.

Max Fine Furniture & Appliances, Inc., sought Chapter 11 protection
on March 17, 2020 (Bankr. S.D. Tex. Case No. 20-70114).  In the
petition signed by Maximo Saenz, president, the Debtor disclosed
$6,283,658 in assets and $4,261,778 in liabilities.  Jana Smith
Whitworth, Esq., at JS WHITWORTH LAW FIRM, PLLC, is the Debtor's
counsel.


MICHELLE GERMINARIO: Florans Buying Toms River Property for $825K
-----------------------------------------------------------------
Michelle Germinario asks the U.S. Bankruptcy Court for the Southern
District of Florida to authorize the sale of investment real
property located at 1898 Charlton Circle, Toms River, New Jersey,
Parcel ID# 00-42-45-32-06-000-4250, to Samuel D. Florans and Esther
R. Florans for $825,000, cash.

The Debtor owns the Property.  She is unable to afford the monthly
obligations of the Property.  Accordingly, she asks permission to
sell the Property, pay the secured obligations on the Property in
full, and utilize the remaining net proceeds for the payment of
creditors of her Bankruptcy Estate.

The sale of the property will relieve the Debtor of a great
financial obligation and enable her the opportunity of proposing a
realistic and feasible Chapter 11 plan of reorganization.

The Debtor proposes to sell the Property to the Purchasers, who are
not an insider of, related to, or affiliated with the Debtor,
pursuant to the New Jersey AS-IS Real Estate Sale Contract,
including addendum.  The sale of the Property will be free and
clear of all lines, claims and encumbrances.

The Contract provides for (i) an all cash sale of the Property for
(ii) the purchase price of $825,000 including (iii) the sale of all
fixtures and furnishings; and (iv) a closing date of no later than
Aug. 20, 2020.  The Purchasers made an Initial deposit of $50,000
that accompanied the contract that is being held by Madison Title
Agency.  An additional deposit of $50,000 is required by July 13,
2020 following the Purchaser's 10-day Inspection period.  The
balance of funds are due at closing.

Due to COVID, and the inability to seek a real estate broker, the
Debtor took the opportunity to list the Property for sale by owner.
  On the Petition Date, the value of the property was listed as
$825,000.  Upon the Debtor's counsel being retained and performing
a due diligence, the valuation obtained from RealQuest/Corelogic
was $741,000.  Upon listing the Property for sale for $825,000, the
Debtor received multiple offers and accepted the offer for the full
asking price, all cash, subject to approval of the Court.

Upon information and belief, the only known liens, claims and
encumbrances against Property are: (1) a first mortgage in favor of
PNC Bank, National Association in the amount of $624,948 (Claim No.
18) and (2) the Toms River Township, Tax Collector is owed
approximately $16,031 for undisputed real estate taxes (Claim No.
21).   

Upon information and belief, there are no other liens, claims or
encumbrances against the Property.  The Purchasers will conduct a
lien search and any additional liens, claims and encumbrances will
be satisfied, or the Debtor will file the appropriate Motions with
the Court.

By utilizing a Sale By Owner, the Debtor received multiple offers
and was able to receive the full asking price of $825,000, an all
cash offer and was able to save payment of commission of $33,000.
The Purchasers are utilizing a real estate agent who will receive
2% of commission based on the contract price.  It was the highest,
and best, offer the Debtor received, and is at or above the current
market price for similar properties in the area.

The Purchasers' Real Estate Broker, is receiving a commission at
closing from the proceeds of the sale in the amount of $16,500,
which is 2% of the total sales price.  The Debtor asks approval of
the Contract and compensation to the Purchasers' Real Estate
Broker, pursuant to the terms set forth in the Motion.

The proposed sale will be subject to higher or better offers.
Therefore, in the event the Debtor receives any higher or better
offers prior to the hearing on the Motion, the Debtor will ask the
approval of bid procedures at the hearing on the Motion, where
competing bids can then be made.

In addition, the Debtor asks that the Court waive the stay period
under Fed. R. Bank. P. 6004(h), so that the parties can close on
the scheduled closing date, in the event the Motion is continued or
the closing takes place sooner than the scheduled closing date.

A copy of the Contract is available at https://tinyurl.com/y83unw8o
from PacerMonitor.com free of charge.

Michelle Germinario sought Chapter 11 protection (Bankr. S.D. Fla.
Case No. 20-13610) on March 17, 2020.  The Debtor tapped Randy
Eisenberg, Esq., as counsel.


MIDAS INTERMEDIATE II: Moody's Cuts PDR to Caa2-PD, Outlook Neg.
----------------------------------------------------------------
Moody's Investors Service downgraded Midas Intermediate Holdco II,
LLC's Probability of Default Rating to Caa2-PD from Caa1-PD and the
senior unsecured notes rating to Caa3 from Caa2. At the same time,
Moody's affirmed the company's Caa1 Corporate Family Rating and the
B2 rating on its senior secured bank credit facility. The outlook
remains negative.

"The downgrade of the PDR and senior unsecured notes rating
recognizes the elevated risk due to Service King's looming August
2021 revolver and term loan maturities and potentially lower
recovery on the senior unsecured notes that mature in 2022," stated
Moody's Vice President Charlie O'Shea. "There is a real possibility
that a refinance of the revolver and term loan will result in less
flexibility going forward, which would impair Service King's
ability to grow, as well as reduce free cash flow," continued
O'Shea. "While leverage remains very high, Moody's continues to
view the fundamentals of the collision repair sector favorably and
believes that management has a strategy that can, if well-executed,
reverse weak operating trends."

Downgrades:

Issuer: Midas Intermediate Holdco II, LLC

Probability of Default Rating, Downgraded to Caa2-PD from Caa1-PD

Senior Unsecured Regular Bond/Debenture, Downgraded to Caa3 (LGD4)
from Caa2 (LGD5)

Affirmations:

Issuer: Midas Intermediate Holdco II, LLC

Corporate Family Rating, Affirmed Caa1

Senior Secured Bank Credit Facility, Affirmed B2 (LGD2 from LGD3)

Outlook Actions:

Issuer: Midas Intermediate Holdco II, LLC

Outlook, Remains Negative

RATINGS RATIONALE

Service King's Caa1 corporate family rating reflects its weak
credit metrics, with pro forma debt/ EBITDA for the LTM period
ended June 30, 2020 of around 11 times and EBIT/interest well below
1 time (including 50% credit for cost savings from front-office
re-structuring initiatives executed in early 2020), as well as the
looming 2021 debt maturities.

Supporting the rating is Service King's solid market position in
the highly fragmented collision repair sub-sector, its
mutually-beneficial relationships with national and major insurance
carriers which represents the vast majority of revenue, and strong
industry fundamentals which should support continuing stable demand
for its services. However, while demand fundamentals are stable,
recent pricing pressure with certain carriers along with higher
costs has resulted in an erosion in margins, EBITDA and free cash
flow.

Moody's expects that new assignment volumes will normalize in FYE
2021, resulting in an improvement in leverage and interest coverage
such that they fall below 8 times and approach 1.0 times
respectively over the next 12-18 months should the companies
successfully execute its operating efficiency initiatives.
Additionally, the contribution from recent and future store
additions should offset labor pressures and support earnings
growth. Service King's liquidity profile is weak, constrained by
the August 2021 maturities of its $100 million revolver and $587
million term loan and the rate of cash burn year-to-date.

The company has $112 million of balance sheet cash as of June 30,
2020 (including the proceeds from a $92 million draw on its
revolving credit facility) which expires in August 2021, with cash
reserves available to use for debt repayment of $104 million. The
negative outlook reflects the risks surrounding the speed with and
level to which credit metrics will improve, as well as the August
2021 maturity of the senior secured bank credit facility.

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

Ratings could be downgraded if Service King's near-term maturities
are not addressed under reasonable terms in due course. Ratings
could also be downgraded if "steady state"operating performance
does not show signs of stabilization or if financial strategy
becomes more aggressive such that debt/EBITDA remains above 7.5
times or EBIT/interest remains below1.0 time. Ratings could also be
downgraded if the company is unable to stem the pace of its free
cash flow deficits resulting in a erosion in its already weak
liquidity.

Given the negative outlook, an upgrade over the near term is
unlikely. Over time, ratings could be upgraded if the company is
able to drive meaningful revenue and EBITDA growth such that
debt/EBITDA approaches 6.5 times with EBIT/interest sustained
materially above 1.25 times. An upgrade would also require the
company to maintain at least good liquidity, and the expectation
that financial policies will sustain metrics at these levels. Over
a shorter horizon, the outlook could return to stable if operating
improvements are achieved such that credit metrics begin to
generate meaningful positive momentum away from the current
downgrade triggers.

Service King is exposed to environmental risk as the company is
subject to governmental laws and regulations regarding hazardous
waste. Service King could be impacted if they are found to be in
purported violation of or subject to liabilities under any of these
laws or regulations, or if new laws or regulations are enacted that
adversely affect the operations, business, reputation, financial
condition, or results of operations. Service King was recently
fined by the State of California for failure to adhere with
hazardous waste regulations. However, the fine was reduced to an
immaterial amount, $1.8 million, following Service Kings early
adoption of remediation efforts.

Service King has put in a place an ongoing training program to
ensure that its employees comply with all hazardous waste
requirements going forward. Service King's overall corporate
governance risk is high given its financial sponsor ownership.
Financial strategy and leverage policy are a key concern with
sponsor-owned companies, and in the case of Service King, the key
risk is that the sponsor's pursuit of an aggressive pace of
debt-funded acquisitions, which has increased total funded debt by
more than $300 million since 2014, has resulted in an elevated
leverage profile that may limit the company's financial flexibility
in the event that earnings deteriorate from current levels.

Headquartered in Richardson, Texas, Midas Intermediate Holdco II,
LLC is a leading provider of vehicle body repair services with
annual revenue of over $1.1 billion. The company operates under the
Service King brand name and operated 339 locations in 24 states as
of June 30, 2020.

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


MIKE AND JD ALLEY FARMS: Files for Chapter 12 Bankruptcy
--------------------------------------------------------
The Portland Business Journal reports that Mike and JD Alley Farms
LLC filed for voluntary Chapter 12 bankruptcy protection June 19,
2020, in the District of Oregon. The debtor listed an address of
8925 SW Green Dr., Culver, and is represented in court by attorney
Christopher N. Coyle. Mike and JD Alley Farms LLC listed assets
ranging from $1,000,001 to $10,000,000 and debts ranging from
$1,000,001 to $10,000,000. The filing did not identify a largest
creditor.


MILANO HOLDING: S&P Assigns 'B' ICR; Outlook Stable
---------------------------------------------------
S&P Global Ratings assigned its 'B' issuer credit rating to Milano
Holding Corp. At the same time, S&P assigned its 'B+' issue-level
rating and '2' recovery rating to the company's first-lien debt at
subsidiary Milano Acquisition Corp, indicating its expectation for
substantial (70%-90%, rounded estimate: 70%) recovery, with very
little cushion for additional debt at this rating.

S&P's ratings reflect the company's high leverage, partially offset
by its leading market position and the rating agency's expectation
of EBITDA expansion and solid cash flow generation as a stand-alone
company.  The ratings on Milano reflect its high leverage at 7.6x
in fiscal 2021, significant market share in the fragmented Medicaid
Management Information System (MMIS) market, significant scale,
high recurring revenue, strong EBITDA margins, and expected cash
flow generation over $100 million in 2021. Nevertheless, S&P
believes there is significant risk associated with Milano
transitioning to a stand-alone entity from DXC Technology Co.,
especially as it migrates to the cloud and initiates margin
expansion initiatives such as automation and optimization of
organization processes. In addition, while the company benefits
from mostly fixed priced contracts (resulting in stable revenues
throughout the pandemic) largely reimbursed by the federal
government, which mitigates risk from state budget shortfalls, S&P
believes the market could become increasingly competitive, leading
to greater price negotiation or contract losses.

The stable outlook reflects an expectation of success as a
stand-alone entity with steady organic sales growth in the
mid-single digits over the next several years along with stable
EBITDA margins, solid cash flow generation, and leverage remaining
above 5x in 2021-2022.

"While unlikely, we could lower the rating if Milano had trouble
managing as a stand-alone company, resulting in customer attrition
to rising competitors, price compression, and revenue growth
materially below our base case scenario. This would be exacerbated
if Milano could not realize its projected cost savings or if the
cost to achieve these savings were higher than anticipated,
resulting in EBITDA margins substantially below our forecast," S&P
said.

"We consider an upgrade a longer-term prospect because we would
like to see Milano further demonstrate its ability to increase
revenue and EBITDA at a significant rate and continuing to find
growth via cross-selling and up-selling solutions. The company
could also achieve a higher rating by decreasing leverage to below
5x, but we would also need to believe that the financial sponsor
would maintain leverage at this new, lower level," the rating
agency said.


NAUTIC GROUP: Files for Chapter 7 Bankruptcy in Houston
-------------------------------------------------------
The Houston Business Journal reports that The Nautic Group Inc.
filed for voluntary Chapter 7 bankruptcy protection June 15, 2020,
in the Southern District of Texas. The debtor listed an address of
625 Highway 146, Kemah, and is represented in court by attorney
Russell Van Beustring. The Nautic Group Inc. listed assets up to $0
and debts up to $3,822,545. The filing's largest creditor was
listed as Texas Citizens Bank with an outstanding claim of
$2,155,000.


NAVISTAR INT'L: Fitch Rates $225MM Series 2020 Bonds 'CCC'
----------------------------------------------------------
Fitch Ratings has assigned a rating of 'CCC' to Navistar
International Corporation's $225 million unsecured Recovery Zone
Facility Refunding Revenue Bonds (Navistar International
Corporation Project) Series 2020. Proceeds will be used to redeem
$225 million of second-lien revenue bonds due in 2040 that become
callable in October 2020. Fitch has also affirmed the Issuer
Default Ratings for NAV and Navistar Inc. at 'B-', and affirmed
NAV's second-lien revenue bonds due 2040 at 'BB-', third-lien
secured notes at 'BB-'/'RR1' and senior unsecured notes at
'CCC'/'RR6'. Fitch has affirmed Navistar Inc.'s senior secured term
loan at 'BB-'/'RR1'. The Rating Outlook is Negative.

KEY RATING DRIVERS

NAV's ratings incorporate the company's exposure to cyclical demand
for heavy-duty trucks, elevated leverage, low margins and
litigation risk related to its legacy engine strategy. These
concerns are offset by a competitive product line, a gradual
recovery of market share, an improved cost structure that should
support margin improvement after the current industry downturn
reverses, and operating and cost synergies associated with the
Traton SE alliance.

Negative Rating Outlook: The Negative Rating Outlook reflects risks
to NAV's financial performance if the economic impact of the
coronavirus pandemic prevents a recovery in NAV's heavy-duty truck
markets to midcycle levels by sometime in 2022. Fitch believes
NAV's revenue and earnings will be below midcycle levels through
fiscal 2021 and leverage will be materially higher until a recovery
takes hold.

Fitch's rating case includes a decline of approximately 30% in
revenue in 2020 and Fitch-calculated EBITDA margins below 5%,
compared with 8.5% in 2019. Fitch expects FCF in 2020 will approach
negative $400 million, which could improve but remain negative in
2021. The ratings could be downgraded if operating results do not
improve significantly by the end of 2021 and allow NAV to reduce
leverage and invest in new technology to stay competitive. Fitch
expects debt/EBITDA will be above 6.0x through 2021, compared with
3.4x at the end of fiscal 2019.

Adequate Liquidity: Manufacturing cash was approximately $1.5
billion as of April 30, 2020 following the issuance of $600 million
of third-lien notes during the second fiscal quarter of 2020,
compared with $927 million one year earlier. Fitch expects
liquidity will be sufficient in the near term, assuming truck
demand recovers next year.

However, the timing of a full recovery is uncertain. Uses of cash
include working capital, which is expected to be significant in
2020, and capex and pension contributions, some of which will be
deferred, including $162 million of pension contributions as
allowed by the Coronavirus Aid, Relief, and Economic Security Act.
There are no large debt maturities prior to calendar 2024. Low
leverage at Navistar Financial Corporation mitigates the risk of
support being required from NAV.

Traton Alliance: Traton submitted a proposal earlier this year to
acquire all of NAV's shares for approximately $2.9 billion, but the
transaction, which NAV is reviewing, could be delayed due to the
coronavirus pandemic. Fitch's rating case does not incorporate any
changes to NAV's alliance with Traton and does not assume any
additional financial support for Navistar from Traton. If a
transaction occurs, it could lead to further integration between
the two companies and provide broader opportunities to participate
in the global heavy-duty truck market.

Other Rating Concerns: Rating concerns include NAV's weaker
financial position and scale compared with large global peers and a
low share of proprietary engines in NAV trucks. However, Fitch
expects the share to increase over time. NAV continues to address
litigation around legacy engines, emissions compliance, retiree
benefits and other items. Among these cases are two claims by the
U.S. Department of Justice that total up to $555 million and a
False Claims Act case claiming more than $5 billion pertaining to
Navistar Defense, LLC.

Captive Support: Under its criteria for rating non-financial
corporates, Fitch calculates an appropriate debt/equity ratio of
3.0x at financial services based on asset quality, funding and
liquidity. Actual debt/equity at financial services as measured by
Fitch, excluding intangible assets, was 3.1x as of April 30, 2020.
Fitch therefore calculates a small pro forma equity injection of
$11 million would be required. Fitch assumes NAV would fund the
equity injection with cash.

DERIVATION SUMMARY

NAV has a weaker financial profile, including lower margins, FCF
and liquidity, than other global heavy-duty truck original
equipment manufacturers. These factors are important with respect
to investing in the business and managing it through industry
cycles.

Several OEMs are larger than NAV or are affiliates of global
vehicle manufacturing companies, giving them greater access to
financial and operational resources and markets. Peers include
Daimler Trucks North America LLC, a subsidiary of Daimler AG
(BBB+/Stable); AB Volvo (BBB+/Stable); PACCAR Inc. (not publicly
rated); and MAN SE and Scania AB, which are part of Volkswagen AG's
(BBB+/Stable) Traton Group. NAV's alliance with Traton mitigates
concerns about NAV's smaller scale and weaker financial position
compared with its global peers.

Eighty-nine percent of NAV's consolidated revenue was located in
the U.S. and Canada in 2019, which makes it more sensitive to
industry cycles than competing OEMs that have greater geographic
diversification.

KEY ASSUMPTIONS

Fitch's Key Assumptions Within its Rating Case for the Issuer
Include:

  -- Significant downturn in NAV's heavy-duty truck markets
contributes to Fitch's estimated revenue decline of 30% at NAV in
2020.

  -- EBITDA margins decline below 5% in 2020 before beginning to
recover in 2021.

  -- Debt/EBITDA is above 6.0x through 2021. Leverage improves
after 2020, but remains elevated compared with debt/EBITDA of 3.4x
in 2019.

  -- NAV's market share increases further but remains below
historical levels in the near term.

  -- FCF approaches negative $400 million in 2020; it improves but
is still negative in 2021.

  -- Fitch's base case for NAV assumes the alliance with Traton is
unchanged, and cost efficiencies and product development are
executed as planned.

Recovery Analysis

The recovery analysis for NAV reflects Fitch's expectation that the
enterprise value of the company would be maximized as a going
concern rather than through liquidation. Fitch assumed a 10%
administrative claim.

A going concern EBITDA of $571 million represents Fitch's estimated
post-emergence stabilized EBITDA following an industry downturn.

An EBITDA multiple of 5.0x is used to calculate a
post-reorganization valuation below the 6.7x median for the
industrial and manufacturing sector. The multiple incorporates
cyclicality in the heavy-duty truck market, the highly competitive
nature of the heavy-duty truck market and NAV's smaller size
compared with large global OEMs.

Fitch assumes a fully used asset-based credit facility, excluding a
liquidity block, primarily for standby LOCs that could be utilized
during a distress scenario. The recovery analysis also reflects
senior-priority secured used-truck financing provided by NFC and
intercompany loans to NAV included in unsecured debt.

The secured term loan is rated 'BB-'/'RR1', three levels above
NAV's IDR, as Fitch expects the loan would see a full recovery in a
distressed scenario based on a strong collateral position. The
senior secured third-lien notes are rated 'BB-'/'RR1', as they
would also be expected to see a full recovery based on a first-lien
stock pledge on Navistar International B.V. and a junior-lien
position behind the term loan. A second lien held by the existing
recovery zone bonds on certain assets will not be in effect after
the bonds are redeemed in October 2020.

These bonds will continue to be rated 'BB-' until they are
redeemed, as they would be expected to see a full recovery. Senior
unsecured bonds and the new unsecured recovery zone bonds are rated
two notches below NAV's IDR due to poor recovery prospects in a
distress scenario. There is a small benefit from the absence of the
second-lien recovery zone bonds on a pro forma basis, but it does
not improve the recovery materially.

RATING SENSITIVITIES

Factors that could, individually or collectively, lead to positive
rating action/upgrade:

  -- FCF is positive in 2021;

  -- Debt/EBITDA is below 5.5x;

  -- Fitch-calculated EBITDA margins are sustained above 7%;

  -- NAV's retail market share continues to improve;

  -- Litigation with the Department of Justice and other contingent
liabilities are resolved with little financial impact on NAV.

Factors that could, individually or collectively, lead to negative
rating action/downgrade:

  -- FCF is negative in 2021;

  -- Manufacturing EBITDA margins are below 5% in 2021;

  -- There is a material adverse outcome from litigation;

  -- The alliance with Traton is terminated;

  -- Material support is required for financial services.

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

NAV's liquidity at the manufacturing business as of April 30, 2020
included cash and marketable securities totaling $1.5 billion,
excluding restricted cash and cash at Blue Diamond Parts. Liquidity
includes availability under a $125 million asset-based credit
facility. Borrowing capacity under the ABL is reduced by a $13
million liquidity block and LOCs issued under the facility.
Liquidity was offset by current maturities of manufacturing
long-term debt of $66 million. There are no large debt maturities
before November 2024. NAV had intercompany loans totaling $422
million from financial services, which Fitch includes in
manufacturing debt. The net pension obligation was $1.3 billion
(60% funded) at Oct. 31, 2019.

As of April 30, 2020, debt at NAV's manufacturing business totaled
approximately $4.0 billion, as calculated by Fitch, including
intercompany debt and unamortized discount and debt-issuance costs.
Debt was $1.9 billion at the financial services segment, the
majority of which is at NFC. Consolidated debt totaled $5.4
billion.

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).

Navistar International Corporation

  - LT IDR B-; Affirmed

  - Senior unsecured; LT CCC; New Rating   

  - Senior Secured 2nd Lien; LT BB-; Affirmed

  - Senior Secured 3rd Lien; LT BB-; Affirmed

  - Senior unsecured; LT CCC; Affirmed

Navistar, Inc.

  - LT IDR B-; Affirmed

  - Senior secured; LT BB-; Affirmed


NEVER SLIP: S&P Raises ICR to CCC+ on Completion of Restructuring
-----------------------------------------------------------------
S&P Global Ratings raised its issuer credit rating to 'CCC+' from
'D' on U.S.-based Never Slip Topco Inc. (the parent of
slip-resistant footwear provider Shoes for Crews [SFC]) after the
company completed a distressed restructuring and amended its first-
and second-lien credit agreements.

Concurrently, S&P raised its issue-level ratings on the company's
revolver and first-lien term loan to 'CCC+' from 'D'. The recovery
ratings are unchanged at '3', indicating its expectation for
meaningful (50%-70%, rounded estimate: 60%) recovery in the event
of a payment default.

S&P believes SFC's capital structure remains unsustainable,
especially amid the uncertain economic environment that could
continue to pressure operating performance and cash flow. S&P
believes the company continues to operate with unsustainable
leverage and the company has significant exposure to industries
severely affected by the pandemic. Sales declined by over 50% in
late March and early April and moderated to a midteens decline by
early July, which S&P attributes primarily to rebounding demand in
some areas of the country that reopened early. S&P's forecast
reflects gradual improving sales and EBITDA in the second half of
the year but there is much uncertainty around the future course of
the pandemic and the risk that the economy might not sufficiently
recover, resulting in lower away from home food consumption,
including at restaurants, a core SFC customer vertical. S&P also
understands management has taken various actions to reduce costs
and mitigate the risk of supply chain disruptions. Nevertheless,
S&P continues to view SFC's capital structure as unsustainable and
forecast leverage will remain elevated above 10x in 2020 and 2021
with negative free cash flow (FCF) generation. Liquidity could
tighten again if spikes in coronavirus cases cause consumers to
avoid food away from home establishments or governments tighten
restrictions on restaurants, including possible shutdowns. The
company could have a hard time sustaining sufficient interest
coverage absent substantially improved demand.

The recently closed transaction provides additional liquidity,
which S&P expects will fund operations over the near term. S&P's
base case forecast indicates the company should remain in
compliance with its financial covenants over the next year.

The company's financial sponsor CCMP Capital Advisors L.P. and
other shareholders contributed about $20 million of incremental
equity to the business. The net proceeds from the equity
contribution were used to pay down the outstanding balance on its
primary revolver. After this equity infusion, SFC has over $30
million of liquidity, which should support its operations and meet
its obligations over the near term. The amendment extended the
company's debt maturities to 2024 (30-month extension for its
primary revolver and 18-month extensions for its term loans and
secondary revolver). The amendment also replaced its springing
first-lien leverage covenant with a new minimum liquidity covenant
(effective immediately after the closing of the amendment) and
minimum EBITDA covenant that commences in the second quarter of
2021. The new minimum EBITDA covenant commences at $15.5 million
for quarter ending Jun 30, 2021 with step-ups each quarter,
ultimately to $35 million by Dec. 31, 2023. The minimum liquidity
covenant is set at $5 million, which is tested weekly on five-day
average basis. S&P expects the company to remain in compliance with
its maintenance financial covenants but cushion could tighten if
demand falls well short of expectations.

The negative outlook reflects the potential for a lower rating
within the next 12 months if S&P forecasts that the risk of a
near-term default has increased including a liquidity crisis or
violation of financial covenants.

"We could lower our ratings if demand and cash flow generation fall
short of our expectations, leading to further deterioration in FCF
and heightened risk of a default within the subsequent 12 month
period. This could happen if restrictions on restaurant capacity,
widespread permanent restaurant closures, or consumer hesitancy to
resume food away from home consumption continue to hurt sales. This
could also occur if infection rates spike and lead to additional
lockdowns, or a protracted recession and high unemployment rates
dramatically reduce consumer discretionary spending on food away
from home," S&P said.

"We could take a positive rating action if SFC stabilizes its
revenue and EBITDA, which results in improved liquidity, positive
FCF, EBITDA interest coverage increasing to the mid-1x area
double-digit forecasted covenant cushion. This could occur if
infection rates subside and away from home food consumption
steadily expands as states and municipalities reopen," the rating
agency said.


NEXTERA ENERGY: Fights for the $60M Fee from EFH
------------------------------------------------
Law360 reports that NextEra Energy Inc. urged the Third Circuit on
July 3, 2020, to revive its bid for $60 million in administrative
expenses in connection with a scrapped deal to purchase assets from
bankrupt Energy Future Holdings Corp., arguing that it spent the
money in reliance on a sale termination fee that was later taken
off the table.

During an oral argument before a three-judge panel, NextEra
attorney James P. Bonner of Fleischman Bonner & Rocco LLP said the
company endured "severe unremedied prejudice" when a Delaware
federal court dismissed the bid, because recovering expenses was
NextEra's only recourse after Energy Future decided to sell.

                      About NextEra Energy

NextEra Energy, Inc. (NYSE: NEE), is a holding company. The Company
is an electric power companies in North America and, through its
subsidiary NextEra Energy Resources, LLC (NEER) and its affiliated
entities, is the generator of renewable energy from the wind and
sun. NEE also owns and/or operates generation, transmission and
distribution facilities to support its services to retail and
wholesale customers, and has investments in gas infrastructure
assets. Its segments include FPL and NEER.  Florida Power & Light
Company (FPL) is a rate-regulated electric utility engaged
primarily in the generation, transmission, distribution and sale of
electric energy in Florida.  NEER is a diversified clean energy
company with a business strategy that emphasizes the development,
acquisition and operation of long-term contracted assets with a
focus on renewable projects.


NOVABAY PHARMACEUTICALS: Posts $4.5 Million Net Loss in Q2
----------------------------------------------------------
Novabay Pharmaceuticals, Inc., filed with the Securities and
Exchange Commission its Quarterly Report on Form 10-Q, disclosing a
net loss and comprehensive loss of $4.48 million on $3.98 million
of total sales for the three months ended June 30, 2020, compared
to a net loss and comprehensive loss of $2.50 million on $1.79
million of total sales for the same period in 2019.

For the six months ended June 30, 2020, the Company reported a net
loss and comprehensive loss of $6.06 million on $5.87 million of
total sales compared to a net loss and comprehensive loss of $6.69
million on $3.28 million of total sales for the six months ended
June 30, 2019.

As of June 30, 2020, the Company had $13.27 million in total
assets, $12.29 million in total liabilities, and $983,000 in total
stockholders' equity.

Based primarily on the funds available at June 30, 2020, management
believes that the Company's existing cash and cash equivalents and
cash flows generated from product sales will be sufficient to
enable the Company to meet its planned operating expenses at least
through June 30, 2021.  However, changing circumstances may cause
the Company to expend cash significantly faster than currently
anticipated, and the Company may need to spend more cash than
currently expected because of circumstances beyond its control.
Additionally, the Company's future results, cash expenditures and
ability to obtain additional external financing could be adversely
affected by the COVID-19 pandemic and general adverse economic
conditions.

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

                     https://is.gd/VY2t5R

                          About Novabay

Headquartered in Emeryville, California, NovaBay Pharmaceuticals,
Inc. -- http://www.novabay.com/-- is a biopharmaceutical company
focusing on commercializing and developing its non-antibiotic
anti-infective products to address the unmet therapeutic needs of
the global, topical anti-infective market with its two distinct
product categories: the NEUTROX family of products and the
AGANOCIDE compounds.  The Neutrox family of products includes
AVENOVA for the eye care market, CELLERX for the aesthetic
dermatology market, and NEUTROPHASE for wound care market.

Novabay reported a net loss and comprehensive loss of $9.66 million
for the year ended Dec. 31, 2019, compared to a net loss and
comprehensive loss of $6.54 million for the year ended Dec. 31,
2018.  As of March 31, 2020, the Company had $9.48 million in total
assets, $9.82 million in total liabilities, and a total
stockholders' deficit of $349,000.

OUM & CO. LLP, in San Francisco, California, the Company's auditor
since 2010, issued a "going concern" qualification in its report
dated March 26, 2020 citing that the Company has experienced
operating losses for most of its history and expects expenses to
exceed revenues in 2020.  The Company also has recurring negative
cash flows from operations and an accumulated deficit.  All of
these matters raise substantial doubt about its ability to continue
as a going concern.


NUZEE INC: Incurs $2.54 Million Net Loss in Third Quarter
---------------------------------------------------------
NuZee, Inc. filed with the Securities and Exchange Commission its
Quarterly Report on Form 10-Q, reporting a net loss of $2.54
million on $191,962 of revenues for the three months ended June 30,
2020, compared to a net loss of $9.39 million on $585,202 of
revenues for the three months ended June 30, 2019.

For the nine months ended June 30, 2020, the Company reported a net
loss of $8.49 million on $1.13 million of revenues compared to a
net loss of $13.42 million on $1.30 million of revenues for the
nine months ended June 30, 2019.

As of June 30, 2020, the Company had $8.57 million in total assets,
$1.77 million in total liabilities, and $6.79 million in total
stockholders' equity.

The Company has had limited revenues, recurring losses, and an
accumulated deficit and is dependent on sales of its equity,
including to its majority shareholder, to provide additional
funding for operating expenses.  The Company said these items raise
substantial doubt as to its ability to continue as a going concern.
The Company's continued existence is dependent upon management's
ability to develop profitable operations, continued contributions
from its majority shareholder to finance its operations and the
ability to obtain additional funding sources to explore potential
strategic relationships and to provide capital and other resources
for the further development and marketing of the Company's products
and business.

Since its inception in 2011, the Company has incurred significant
losses, and as of June 30, 2020, the Company had an accumulated
deficit of approximately $33 million.  The Company has not yet
achieved profitability, and anticipate that it will continue to
incur significant sales and marketing expenses prior to recording
sufficient revenue from its operations to offset these expenses. In
the United States, the Company expects to incur additional losses
as a result of the costs associated with operating as an
exchange-listed public company in the future.

To date, the Company has funded its operations primarily with
proceeds from the public and private sale of shares of its common
stock.

NuZee said, "Our principal use of cash is to fund our operations,
which includes the commercialization of our pour over coffee
products, the continuation of efforts to improve our products,
administrative support of our operations and other working capital
requirements.

"We may need to raise additional funds to support our operating
activities, and such funding may not be available to us on
acceptable terms, or at all.  If we are unable to raise additional
funds when needed, our operations and ability to execute our
business strategy could be adversely affected.  We may seek to
raise additional funds through equity, equity-linked or debt
financings.  If we raise additional funds through the incurrence of
indebtedness, such indebtedness would have rights that are senior
to holders of our equity securities and could contain covenants
that restrict our operations.  Any additional equity financing may
be dilutive to our stockholders."

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

                    https://is.gd/hw6awk

                          About Nuzee

NuZee, Inc. (d/b/a Coffee Blenders) is a specialty coffee company
and a single-serve pour-over coffee producer and co-packer.  The
Company owns sophisticated packing equipment developed in Asia for
pour over coffee production and it believes its long-standing
experience with this equipment and associated pour over filters,
and its relationships with their manufacturers provide the Company
with an advantage over its North American competitors.

NuZee reported a net loss of $12.21 million for the year ended Dec.
31, 2019, compared to a net loss of $3.57 million for the year
ended Dec. 31, 2018.  As of March 31, 2020, the Company had $4.98
million in total assets, $1.63 million in total liabilities, and
$3.35 million in total stockholders' equity.

MaloneBailey, LLP, in Houston, Texas, the Company's auditor since
2013, issued a "going concern" qualification in its report dated
Dec. 24, 2019, citing that the Company has suffered recurring
losses from operations that raises substantial doubt about its
ability to continue as a going concern.


OLD TIME POTTERY: Closes Rockford, Ill. Store
---------------------------------------------
My Stateline reports that Old Time Pottery will close its store in
Rockford, in Illinois, after it filed Chapter 11 bankruptcy
protection.

The Murfreesboro, Tennessee-based company made the announcement in
June that it had begun filings, after its finances collapsed due to
the COVID-19 pandemic.

"Prior to COVID-19, Old Time Pottery was growing profitability at a
near-record pace. When COVID-19 hit in March 2020, the company
experienced a sudden and precipitous decline in sales that lasted
for six weeks with mandates to close numerous store locations in
accordance with state and local government regulations," the
company said in a news release.

In addition to its Rockford store, Old Time Pottery will close
stores in Fayetteville, N.C., North Charleston, S.C. and Orlando,
Florida.

Currently, Old Time Pottery operates 43 stores in 11 states,
according to its website.

In addition to Old Time Pottery, Tuesday Morning and Chuck E.
Cheese have recently filed Chapter 11 bankruptcy protection.

                      About Old Time Pottery

Old Time Pottery -- https://oldtimepottery.com -- is a retailer
headquartered in Murfreesboro, Tennessee focused on selling home
décor and seasonal items.

Old Time Pottery, LLC and OTP Holdings, LLC, sought Chapter 11
protection (Bankr. M.D. Tenn. Case Nos. 20-03138 and 20-03139) on
June 28, 2020.

The Debtors' bankruptcy cases are jointly administered under case
no. 20-03138 before the Honorable Marian F. Harrison.

BASS, BERRY & SIMS PLC is the Debtors' counsel.  Stretto is the
claims agent.


OUTRIGHT AVIONICS: Files for Chapter 7 Bankruptcy in Houston
------------------------------------------------------------
The Houston Business Journal reports that OutRight Avionics LLC
filed for voluntary Chapter 7 bankruptcy protection April 7, 2020,
in the Southern District of Texas. The debtor listed an address of
10078 Airport Road, Conroe, and is represented in court by attorney
Allison Davison Byman. OutRight Avionics listed assets up to
$1,375,780 and debts up to $3,499,073. The filing's largest
creditor was listed as Plains State Bank with an outstanding claim
of $350,000.


OWENS & MINOR: S&P Alters Outlook to Stable, Affirms 'B-' ICR
-------------------------------------------------------------
S&P Global Ratings revised the outlook to stable from negative and
affirmed the 'B-' issuer credit rating on Mechanicsville, Va.-based
Owens & Minor Inc. (OMI), based on the company's improved
performance, liquidity, and the public commitment to continue to
de-lever.

S&P however remains cautious about the sustainability of this
tailwind and are still concerned about the long-term prospects for
its acute hospital-oriented distribution business. S&P is therefore
revising the outlook to stable from negative and affirming the 'B-'
issuer credit rating on OMI.

Default risk has diminished significantly. Since S&P's March
downgrade of OMI, the company's credit profile improved amid the
COVID-19 pandemic given its status of one of the few Americas-based
PPE manufacturers. S&P's initial negative outlook reflected the
refinancing risk for its July 2022 maturities (revolver and term
loan A) given the lackluster top-line and cash flow projections.
However, OMI's financial outlook improved since then as it ramped
up its higher-margin manufacturing business, which more than offset
pressure from the lower-margin medical distribution business.

"While we are unsure about the sustainability of the PPE tailwinds,
the better-than-expected cash flow outlook materially alleviates
our concerns about the 2022 maturities. In addition, we believe
OMI's manufacturing business has enhanced its profile and
reputation within the U.S. health care system during the pandemic,
an intangible factor that likely won't be overlooked by lenders,"
S&P said.

"We are getting more comfortable with OMI's financial policy. The
new management team publicly communicated its desire and took
action to repay debt. The company closed its Movianto divestiture
in June, raising $133 million from the sale. We expect the company
will use the divestiture proceeds, along with accounts receivables
(AR) facility, to redeem its 2021 notes. Furthermore, our rating is
based on our expectation that the company will maintain a
conservative financial policy, prioritizing debt paydown over other
shareholder-friendly activities, even beyond 2020 given the
uncertain durability of the cash flow associated with PPE
manufacturing," the rating agency said.

There could be a wide variety of outcomes in 2021 and beyond. S&P
now forecasts 2020 free cash flow of $71 million and
free-cash-flow-to-debt ratio of 5.1%, much better than the rating
agency's previous estimate of 2%. S&P's point estimate for 2021
free cash flow is $58 million (4% of debt), driven by higher
working capital usage, partially offset by a modest increase in
EBITDA. However, S&P acknowledges a wide range of outcomes are
possible in 2021, given significant uncertainties related to
inherently unpredictable factors such as the timing of hospital
surgery volume return and the sustainability of PPE profits.

S&P still has long-term concerns about OMI's distribution business
and true earnings power. The rating agency's view of the base
business is still clouded by its recent history of large client
losses (e.g., the Kaiser Permanente contract loss in 2016, another
large client loss in early 2019). While the company has improved
its service quality under the new management team, S&P thinks it
would be challenging to quickly regain lost market share given
contract stickiness and continued competitive pricing pressure."
Margin for the distribution business has been on a secular decline
given intense competition and increasing negotiating power of
hospital clients.

In addition, compared to Cardinal Health Inc. and Medline
Industries Inc., OMI was late entering the faster-expanding
post-acute distribution and private-label manufacturing businesses.
The company spent over $1 billion in 2017 and 2018 acquiring Byram
Healthcare (a key player in home health medical/surgical
distribution) and Halyard Health's (a basic medical product
manufacturer) surgical and infection prevention business. The
addition of these two businesses hasn't offset the large decline in
the core distribution business. Revenue, operating income, and
operating cash flow remained lower in 2019 compared to 2016. The
Halyard acquisition may prove more successful than expected because
it's the source of PPE manufacturing.

The stable outlook reflects S&P's expectation that the company will
generate positive free cash flows on a sustained basis, maintain a
conservative financial policy, and successfully address its 2022
maturities.

"We could consider a lower rating if OMI fails to generate free
cash flow that can cover all of its debt service costs (interest
expense and term loan amortization), which could raise the
refinancing risk of its 2022 maturities and lead us to believe the
capital structure is unsustainable. One possible path is if surgery
volumes are materially weaker, such that lower distribution profits
more than offsets higher PPE profits," S&P said.

"Alternatively, we could consider a lower rating if the company
deviates from its deleveraging commitment and directs material cash
flow toward more shareholder-friendly activities," the rating
agency said.

A key element for a higher rating is that S&P needs to gain
confidence the new management team can expand the core distribution
business. While it acknowledges PPE manufacturing tailwinds could
extend beyond 2020, S&P likely won't consider a higher rating if
the distribution business deteriorates further (e.g., another large
client loss).

If the company can demonstrate the aforementioned qualities, S&P
could consider a higher rating if it can generate over $75 million
in free cash flow on a sustained basis (over 5% of debt).

Alternatively, S&P could consider a higher rating if it gains
confidence that the S&P-adjusted leverage would dip below 5x on a
sustained basis.


PIER 1 IMPORTS: 2200 Heritage Buying Mansfield Assets for $18M
--------------------------------------------------------------
Pier 1 Imports, Inc. and affiliates ask the U.S. Bankruptcy Court
for the Eastern District of Virginia to authorize the private sale
of the real property, together with that certain building,
improvements, easements, hereditaments, fixtures, furniture,
equipment (including office furniture, forklifts, racks, and
racking), and appurtenances thereunto located in the City of
Mansfield, County of Tarrant, and State of Texas to 2200 Heritage
Owner, LLC for $18,005,250 million in cash, pursuant to their
contract of sale agreement, as amended.

Pursuant to the Bidding Procedures Order, the Debtors, in the
exercise of their reasonable business judgment may elect to exclude
any Assets from the bidding procedures and sell such Assets at
either a private or public sale, subject to Court approval of any
alternative sale.  

The Debtors believe that entry into the Purchase Agreement and
approval of the Sale and Bid Protections will maximize the value of
the Property.  Specifically, the Purchase Agreement is not only the
highest standalone offer for the Property, but also includes an
additional offer for personal property (including furniture,
fixtures and equipment) that the Debtors would need to otherwise
sell (at an additional cost) or abandon.  No other bidder wanted
any of such property.  Accordingly, they submit in their sound
business judgment that the process they ran to propose a Sale was
robust and any further process is unlikely to yield higher or
better offers.  In addition, the Buyer would like to close the
transaction shortly after receiving Court approval of the
transaction.  

The Debtors have historically used Jones Lang LaSalle Brokerage,
Inc. for assistance with disposition of their real property assets.
  JLL was originally engaged for the sale of Mansfield prior to
September 2019.  The terms of the contract provided the Broker with
a standard Brokerage Fee of 4% upon consummation of the Sale,
consistent with other agreements between the parties.  

The Debtors ask approval to pay the Brokerage Fee earned by JLL in
connection with the Sale on the grounds that it was reasonable and
necessary to maximize the value of the property in their business
judgment, and so as to avoid any statutory liens that may attach to
Property under state law, should the Brokerage Fee be unpaid.  If
the Debtors do not pay the Brokerage Fee, and the Broker's Lien
does attach, the Buyer will not close the Sale and it will
negatively affect their estates.

Following several months of standard market outreach, JLL received
initial indications of interest from more than 30 parties.  Based
on these indications of interest, the Debtors determined that the
bid of the Stalking Horse Bidder was the best available bid, and
determined to enter into an agreement with the Stalking Horse
bidder to ensure that their bid would set a price floor of $15
million for Mansfield.  The Stalking Horse Bid was contingent upon
the receipt of the Bid Protections (and subject to the post-facto
court approval sought by this Motion).  The Debtors believe that
the Bid Protections are reasonable, provided a price floor for the
Sealed Bid Auction, were appropriate under the circumstances, and
benefitted the Debtors' estate.   

The Debtors, in consultation with JLL, determined that the most
value-maximizing auction style to utilize under the circumstances
was a sealed bid auction, whereby parties submit a highest and best
bid to the Debtors, and the Debtors can choose from among such
bids, call for additional rounds of bids, and/or negotiate with
bidders to improve their bid.  Ultimately, the Debtors ran a
multi-round Sealed Bid Auction, resulting in the eventual selection
of the Winning Bidder.  

The Winning Bidder was to wire its Earnest Money Deposit in a sum
to be set forth on the Property Page to the Title Company within 24
hours from receipt of the Contract signed by Seller.  If the
Winning Bidder failed or refused to deliver the Earnest Money
Deposit within such two-day period, the offer would be deemed
withdrawn.  The balance of the Total Purchase Price, along with all
other costs and/or fees, must be paid as required in the Purchase
Agreement.

All sales were to close through the Title Company as set forth in
the Contract.  The actual scheduled closing date would be set by
the Title Company pursuant to the terms and conditions of the
Contract.  The Winning Bidder was required to pay customary and
normal closing costs, including, but not limited to, closing/escrow
fees, recording fees, pro-rations of property taxes and
assessments, lender's title insurance premium and fees, loan fees,
document preparation fees, and all documentary transfer taxes
customarily paid by buyers, if applicable.

The Stalking Horse Bid offered $15 million as the purchase price
for the Property, contingent upon the receipt of Bid Protections
and subject to court approval.  Although the Stalking Horse Bid
ultimately was not selected through the Sealed Bid Auction, the
Debtors ask, in their business judgment, court approval to pay the
Bid Protections owing under the Stalking Horse Bid.  

Over the course of the Sealed Bid Auction, JLL narrowed down a
"short list" of buyers to 31, completed a detailed bid process for
three rounds of bids with a binding contract, terms of sale,
short-term leaseback and hard earnest money package that was sent
to the "short list" of potential buyers.  Further, JLL completed
multiple tours with a short list of buyers and brokers.

Over the course of the three rounds of bidding, JLL created market
competition to end at a high bid of $18,005,2506 submitted by the
Buyer, which was ultimately selected as the winning bid.  

The salient terms of the Purchase Agreement are:

     a. Seller: Pier 1 Imports (U.S.), Inc.

     b. Buyer: Lonejack II, LLC

     c. Property: That certain tract of land located at 2200
Heritage Parkway, Mansfield, Texas 76063, and more particularly
described or depicted on Exhibit A.

     d. Purchase price: 18,005,250 - (i) $18,005,250 purchase price
includes $17,123,663 for Mansfield and $881,587 for the FF&E
therein, and (ii) $200,000 earnest money to be timely deposited (in
immediately available funds) by the Buyer into escrow.

     e. Bid Protection: 2% breakup fee and $25,000 due diligence
expense reimbursement

The Debtors ask authority to (i) sell the Property free and clear
of all interests, with any such interests to attach to the proceeds
of the Sale; (ii) pay the Bid Protections to the Stalking Horse
Bidder as a result of the Debtors electing to ultimately select
another bidder's offer as the winning bid; and (iii) pay the
Brokerage Fee owed to JLL for services rendered in connection with
the Sale, pursuant to the standard listing agreement between the
Debtors and JLL.

Finally, to maximize the value received for the assets, the Debtors
ask to close the Sale as soon as possible after the Hearing.  
Accordingly, they ask that the Court waives the 14-day stay period
under Bankruptcy Rule 6004(h).

A copy of the Statement of Work is available at
https://tinyurl.com/y9hddnh4 from PacerMonitor.com free of charge.

                      About Pier 1 Imports

Founded with a single store in 1962, Pier 1 Imports, Inc. (OTCPK:
PIRRQ) -- http://www.pier1.com/-- is a leading omni-channel
retailer of unique home decor and accessories.  Its products are
available through approximately 930 Pier 1 stores in the U.S. and
online at pier1.com.

Pier 1 Imports and seven affiliates sought Chapter 11 protection
(Bankr. E.D. Va. Lead Case No. 20-30805) on Feb. 17, 2020, to
pursue a sale of the assets.

Pier 1 Imports disclosed $426.6 million in assets and $258.3
million in debt as of Jan. 2, 2020.

Judge Kevin R. Huennekens oversees the cases.

A&G Realty Partners is assisting Pier 1 Imports with its previously
announced store closures and lease modifications.  Pier 1 Imports
landlords are encouraged to contact A&G Realty Partners through its
website, http://www.agrep.com/   

Kirkland & Ellis LLP and Osler, Hoskin & Harcourt LLP serve as
legal advisors to Pier 1 Imports and its affiliated debtors in the
U.S. and Canada, respectively.  The Debtors tapped AlixPartners LLP
as restructuring advisor; Guggenheim Securities, LLC as investment
banker; and Epiq Bankruptcy Solutions as claims agent.


POP GOURMET: Hires Cairncross & Hempelmann as Counsel
-----------------------------------------------------
Pop Gourmet, LLC, seeks authority from the U.S. Bankruptcy Court
for the Western District of Washington to employ Cairncross &
Hempelmann, P.S., as counsel to the Debtor.

Pop Gourmet requires Cairncross & Hempelmann to:

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

   b. attend meetings and negotiate with representatives of
      creditors and other interested parties;

   c. take all necessary actions to protect and preserve the
      Debtor's bankruptcy estate, including the prosecution of
      actions on its behalf, the defense of any action commenced
      against it in this Court, negotiations concerning
      litigation in which it is involved, and objections to
      claims filed against the estate;

   d. prepare on behalf of the Debtor all motions, applications,
      answers, order, reports, and papers necessary for the
      administration of the estate;

   e. negotiate and prepare on the Debtor's behalf a plan of
      reorganization, disclosure statement and all related
      agreements and/or documents, and take any necessary action
      on behalf of it to obtain confirmation of such plan;

   f. represent the Debtor in connection with obtaining
      authorization to use cash collateral;

   g. advise the Debtor in connection with any potential sale of
      assets;

   h. appear before the Court and the United States Trustee and
      protect interests of the Debtor's bankruptcy estate before
      same; and

   i. perform all necessary or appropriate legal services and
      vide all other necessary or appropriate legal advice to the
      Debtor in connection with this case.

Cairncross & Hempelmann will be paid at the hourly rate of $600.

May 21, 2020, Cairncross & Hempelmann was paid a total of $23,645.
After deducting for fees and expenses, the remaining balance of
$1,355 held in the Firm's trust account.

Cairncross & Hempelmann will also be reimbursed for reasonable
out-of-pocket expenses incurred.

John R. Rizzardi, a partner of Cairncross & Hempelmann, 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.

Cairncross & Hempelmann can be reached at:

     John R. Rizzardi, Esq.
     Christopher L. Young, Esq.
     CAIRNCROSS & HEMPELMANN, P.S.
     524 Second Avenue, Suite 500
     Seattle, WA 98104-2323
     Tel: (206) 587-0700
     Fax: (206) 587-2308
     E-mail: jrizzardi@cairncross.com
             cyoung@cairncross.com

                       About Pop Gourmet

POP Gourmet, LLC -- https://www.popgourmetpopcorn.com/ -- is a
manufacturer of potato chips, corn chips, popcorn, and similar
snacks.

POP Gourmet, LLC, based in Seattle, WA, filed a Chapter 11 petition
(Bankr. W.D. Wash. Case No. 20-11497) on May 26, 2020. In the
petition signed by CEO Steve Gallo, the Debtor disclosed $463,637
in assets and $5,034,487 in liabilities.  The Hon. Timothy W. Dore
presides over the case.  CAIRNCROSS & HEMPELMANN, P.S., serves as
bankruptcy counsel to the Debtor.


QUOTIENT LIMITED: Incurs $25.4 Million Net Loss in First Quarter
----------------------------------------------------------------
Quotient Limited filed with the Securities and Exchange Commission
its Quarterly Report on Form 10-Q, disclosing a net loss of $25.43
million on $8.92 million of total revenue for the quarter ended
June 30, 2020, compared to a net loss of $23.57 million on $8.17
million of total revenue for the quarter ended June 30, 2019.

As of June 30, 2020, the Company had $200.68 million in total
assets, $230.87 million in total liabilities, and a total
shareholders' deficit of $30.18 million.

The Company has incurred net losses and negative cash flows from
operations in each year since it commenced operations in 2007 and
had an accumulated deficit of $508.9 million as of June 30, 2020.
At June 30, 2020, the Company had available cash holdings and
short-term investments of $94.5 million.  The Company is currently
involved in an arbitration dispute with Ortho-Clinical Diagnostics,
Inc., and an arbitration hearing is scheduled for September 2020.
An adverse outcome of this dispute in addition to the Company's
expenditure plans over the next 12 months and the generation of
lower than expected sales could result in an impact on the
liquidity and financial position of the business such that the net
cash outflows over the next 12 months could exceed the Company's
existing available cash and short-term investment balances, raising
substantial doubt about its ability to continue as a going
concern.

The Company expects to fund its operations, including the ongoing
development of MosaiQ through successful field trial completion,
achievement of required regulatory authorizations and
commercialization from the use of existing available cash and
short-term investment balances, cash generated through ongoing
sales of the Company's COVID-19 antibody test, and the issuance of
new equity or debt, and accordingly has prepared the financial
statements on the going concern basis.  However, there can be no
assurance that the Company will be able to generate sales as
expected or obtain adequate financing when necessary and the terms
of any financings may not be advantageous to the Company and may
result in dilution to its shareholders.

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

                       https://is.gd/jU0eyy

                      About Quotient Limited

Penicuik, United Kingdom-based Quotient Limited is a
commercial-stage diagnostics company committed to reducing
healthcare costs and improving patient care through the provision
of innovative tests within established markets.  With an initial
focus on blood grouping and serological disease screening, Quotient
is developing its proprietary MosaiQTM technology platform to offer
a breadth of tests that is unmatched by existing commercially
available transfusion diagnostic instrument platforms.  The
Company's operations are based in Edinburgh, Scotland; Eysins,
Switzerland and Newtown, Pennsylvania.

Quotient Limited reported a net loss of $102.77 million for the
year ended March 31, 2020, compared to a net loss of $105.4 million
for the year ended March 31, 2019.  As of March 31, 2020, the
Company had $226.46 million in total assets, $231.99 million in
total liabilities, and a total shareholders' deficit of $5.53
million.

Ernst & Young LLP, in Belfast, United Kingdom, the Company's
auditor since 2007, issued a "going concern" qualification in its
report dated June 12, 2020, citing that the Company is currently
involved in an arbitration dispute with a customer and an adverse
outcome of this dispute in addition to the Company's expenditure
plans over the next 12 months could result in net cash outflows
over the next 12 months exceeding the Company's existing available
cash and short-term investment balances, and has stated that
substantial doubt exists about the Company's ability to continue as
a going concern.


R.W. LYNCH: Files for Chapter 7 Bankruptcy in Phoenix
-----------------------------------------------------
The Phoenix Business Journal reports that R.W. Lynch Co. Inc. filed
for voluntary Chapter 7 bankruptcy protection June 17, 2020, in the
District of Arizona. The debtor listed an address of 2151 E.
Broadway Rd. #204, Tempe, and is represented in court by attorney
Bradley David Pack. R.W. Lynch listed assets up to $0 and debts up
to $6,332,757. The filing's largest creditor was listed as Center
Plaza SR LLC with an outstanding claim of $1,465,304.


RAYNOR SHINE: Seeks to Tap Moss Krusick as Accountant
-----------------------------------------------------
Raynor Shine Services, LLC and Raynor Apopka Land Management, LLC
seek approval from the U.S. Bankruptcy Court for the Middle
District of Florida to employ Joseph M. Krusick, CPA, and Moss,
Krusick & Associates, LLC as their accountant.

The Debtors desire to employ the accountant to prepare the Debtors'
2019 tax returns and perform other accounting services which may
become necessary.

The accountant proposes to charge the Debtors based on the
following rates:

     (a) Preparation of 2019 tax return for Raynor Shine Services,
LLC at $2000;
     (b) Preparation of 2019 tax return for Raynor Apopka Land
Management, LLC at $2000;
     (c) Accounting cleanup at $85 per hour, 15 hours estimated,
totaling $1,275;
     (d) Estimated fees and costs for accounting services that will
not exceed $6,000;
     (e) A retainer in the amount of $4,000.

Joseph M. Krusick, a partner at Moss, Krusick & Associates, LLC,
disclosed in court filings that neither him nor the other members,
associates or employees of the firm have any connections with the
Debtors, creditors, or any other party-in-interest in these cases,
their respective attorneys and accountants, with the United States
trustee, or with any person employed in the office of the United
States trustee.

The firm can be reached through:
   
     Joseph M. Krusick, CPA
     MOSS, KRUSICK & ASSOCIATES, LLC
     501 S. New York Ave., Suite 100
     Winter Park, FL 32789
     Telephone: (407) 644-5811
     Facsimile: (407) 644-6022
    
                              About Raynor Shine Services

Raynor Shine Services, LLC is an environmental recycling company
based in Apopka, Florida. It offers mulch installation, grapple
truck services, recycle yard disposal, land clearing, grinding
services, storm recovery services.

Raynor Shine Services, LLC and Raynor Apopka Land Management, LLC
sought protection under Chapter 11 of the Bankruptcy Code (Bankr.
M.D. Fla. Lead Case No. 20-00577) on Jan. 30, 2020. The petitions
were signed by Henry E. Moorhead, CRO. At the time of filing,
Raynor Shine Services was estimated to have $10 million to $50
million in both assets and liabilities and Raynor Apopka Land
Management was estimated to have $1 million to $10 million in both
assets and liabilities. Frank M. Wolff, Esq. at Latham Luna Eden &
Beaudine LLP, serves as the Debtors' counsel. Moss, Krusick &
Associates, LLC is tapped as accountant.


RAYONIER ADVANCED: Posts $12.9 Million Net Loss in Second Quarter
-----------------------------------------------------------------
Rayonier Advanced Materials Inc. filed with the Securities and
Exchange Commission its quarterly report on Form 10-Q, disclosing a
net loss available to common stockholders of $12.86 million on
$396.75 million of net sales for the three months ended June 27,
2020, compared to a net loss available to common stockholders of
$18.36 million on $450.23 million of net sales for the three months
ended June 29, 2019.

For the six months ended June 27, 2020, the Company reported a net
loss available to common stockholders of $36.99 million on $806.56
million of net sales compared to a net loss available to common
stockholders of $43.77 million on $891.29 million of net sales for
the six months ended June 29, 2019.

As of June 27, 2020, the Company had $2.44 billion in total assets,
$305.49 million in total current liabilities, $1.06 billion in
long-term debt, $159.19 million in long-term environmental
liabilities, $221.43 million in pension and postretirement
benefits, $22.31 million in deferred tax liabilities, $26.89
million in other long-term liabilities, and $648.73 million in
total stockholders' equity.

Cash flows provided by operating activities decreased $7 million
during the six months ended June 27, 2020 when compared to the same
prior year period.  Cash flows used for continuing operating
activities increased $7 million when compared to the same prior
year period due to higher non-cash expenses primarily related to
deferred tax expense partially offset by higher cash flows used for
working capital due to a $24 million increase in U.S. income tax
receivable, net of reserves, primarily from the passage of the
CARES Act in March 2020.  Cash flows provided by discontinued
operations decreased $14 million due to the sale of the Matane pulp
mill in November 2019.

Cash flows used for investing activities decreased $37 million
during the first six months ended June 27, 2020 when compared to
the same prior year period.  Cash flow used by continuing investing
activities decreased $36 million due primarily from lower planned
capital spending.  Cash flows used in investing activities from
discontinued operations decreased $1 million due to the sale of the
Matane pulp mill.

Cash flows from financing activities decreased $27 million during
the first six months ended June 27, 2020 to cash used for investing
activities of $4 million when compared to the same prior year
period.  The six months ended June 27, 2020 decrease was driven by
lower borrowings as a result of decreased cash used by operating
and investing activities as well as the discontinuance of dividends
for common stock, as a result of board of directors' actions, and
preferred stock, as a result of its conversion to common stock in
August 2019.  Repurchases of common stock decreased during the six
months ended June 27, 2020 due to lower tax payment requirements
from the vesting of common stock related to incentive stock grants.
In addition, the six months ended June 27, 2020 included $3
million debt issuance costs for the modification of terms on the
Senior Secured Credit Facilities.

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

                     https://is.gd/iNLAxL

                  About Rayonier Advanced

Headquartered in Jacksonville, Florida, Rayonier Advanced Materials
Inc. -- http://www.rayonieram.com/-- is a producer of
cellulose-based technologies, including high purity cellulose
specialties, a natural polymer commonly found in filters, food,
pharmaceuticals and other industrial applications.  The Company
also manufactures products for lumber, paper and packaging markets.
The Company has manufacturing operations in the U.S., Canada, and
France.  

Rayonier Advanced reported a net loss available to common
stockholders of $31.03 million for the year ended Dec. 31, 2019.

                          *    *    *

As reported by the TCR on March 6, 2020 S&P Global Ratings lowered
its issuer credit rating on Rayonier Advanced Materials Inc. (RYAM)
to 'CCC+' from 'B-' and lowered its issue-level rating on its
senior unsecured notes to 'CCC' from 'CCC+'.  The downgrade
reflects the severe deterioration in RYAM's margins, which caused
its leverage to rise to more than 10x as of Dec. 31, 2019, from
3.6x as of Dec. 31, 2019 and 7.4x as of Sept. 30, 2019.


RED ROSE: Committee Gets Approval to Hire Schwartz Law as Counsel
-----------------------------------------------------------------
The Official Committee of Unsecured Creditors appointed in the
Chapter 11 cases of Red Rose, Inc. and its affiliates received
approval from the U.S. Bankruptcy Court for the District of Nevada
to employ Schwartz Law, PLLC as its local and co-counsel.

The firm will provide these legal services to the Committee:

     (a) assisting and advising the Committee in its discussions
with the Debtors and other parties-in-interest regarding the
overall administration of these cases and related adversary
proceedings;

     (b) representing the Committee at hearings to be held before
this Court and communicating with the Committee regarding the
matters heard and the issues raised as well as the decisions and
considerations of this Court;

     (c) assisting and advising the Committee in its examination
and analysis of the conduct of the Debtors' affairs;

     (d) assisting and advising the Committee in its discussions
with the Debtors and other parties-in-interest regarding the
Debtors' sale process or other alternative transactions;

     (e) reviewing and analyzing pleadings, orders, schedules, and
other documents filed and to be filed with this Court by interested
parties in these cases; advising the Committee as to the necessity,
propriety, and impact of the foregoing upon these cases; and
consenting or objecting to pleadings or orders on behalf of the
Committee, as appropriate;

     (f) assisting the Committee in preparing such applications,
motions, memoranda, proposed orders, and other pleadings as may be
required in support of positions taken by the Committee;

     (g) conferring with the professionals retained by the Debtors
and other parties-in-interest, as well as with such other
professionals as may be selected and employed by the Committee;

     (h) coordinating the receipt and dissemination of information
prepared by and received from the Debtors' professionals, as well
as such information as may be received from professionals engaged
by the Committee or other parties-in-interest in these cases;

     (i) participating in such examinations of the Debtors and
other witnesses as may be necessary in order to analyze and
determine, among other things, the Debtors' assets and financial
condition, whether the Debtors have made any avoidable transfers of
property, or whether causes of action exist on behalf of the
Debtors' estates;

     (j) negotiating and, if necessary or advisable, formulating a
plan of reorganization for the Debtors; and assisting the Committee
generally in performing such other services as may be desirable or
required for the discharge of the Committee's duties pursuant to
Bankruptcy Code Section 1103; and

     (k) performing all other necessary legal services and provide
all other necessary legal advice to the Committee in connection
with the Chapter 11 Cases.

Schwartz Law intends to work closely with the Committee's other
professionals, generally, and the Brown Rudnick firm, specifically,
to ensure that there is no unnecessary duplication of services.

The hourly rates of the firm's attorneys and paraprofessionals who
will work in this representation are as follows:

     Samuel A. Schwartz                           $810
     Sasha Amid                                   $395
     Other Attorneys                       $295 - $810
     Legal Assistants and Support Staff    $195 - $225

The firm anticipates that its blended hourly rates will not exceed
$450.

In addition, the firm will charge the Committee for any other
expenses incurred in connection with this representation.

The firm has not received a pre-petition retainer for services to
be rendered in these cases.

Samuel A. Schwartz, Esq., the principal of Schwartz Law, PLLC,
disclosed in court filings that the firm is a "disinterested
person" as that term is defined in section 101(14) of the
Bankruptcy Code.

The firm can be reached through:
   
     Samuel A. Schwartz, Esq.
     Athanasios Agelakopoulos, Esq.
     SCHWARTZ LAW, PLLC
     601 East Bridger Avenue
     Las Vegas, NV 89101
     Telephone: (702) 385-5544
     Facsimile: (702) 385-2741

                                   About Red Rose

Red Rose, Inc., its affiliates and its parent company Petersen-Dean
Inc., a full-service, privately-held roofing and solar company,
sought protection under Chapter 11 of the Bankruptcy Code (Bankr.
D. Nev. Lead Case No. 20-12814) on June 11, 2020. At the time of
the filing, Red Rose and Petersen-Dean each disclosed assets of
between $10 million and $50 million and liabilities of the same
range. Judge Mike K. Nakagawa oversees the cases. Debtors are
represented by Fox Rothschild, LLP.

The Official Committee of Unsecured Creditors was appointed by the
U.S. Trustee for Region 17 on June 27, 2020. The committee tapped
Brown Rudnick LLP as bankruptcy counsel and Schwartz Law, PLLC as
local and co-counsel.


RED ROSE: Committee Gets Approval to Tap Brown Rudnick as Counsel
-----------------------------------------------------------------
The Official Committee of Unsecured Creditors appointed to the
Chapter 11 cases of Red Rose, Inc. and its debtor affiliates
receives approval from the U.S. Bankruptcy Court for the District
of Nevada to employ Brown Rudnick LLP as its bankruptcy counsel.

The firm will provide these legal services to the Committee:

     (a) assisting and advising the Committee in its discussions
with the Debtors and other parties-in-interest regarding the
overall administration of these cases and related adversary
proceedings;

     (b) representing the Committee at hearings to be held before
this Court and communicating with the Committee regarding the
matters heard and the issues raised as well as the decisions and
considerations of this Court;

     (c) assisting and advising the Committee in its examination
and analysis of the conduct of the Debtors' affairs;

     (d) assisting and advising the Committee in its discussions
with the Debtors and other parties-in-interest regarding the
Debtors' sale process or other alternative transactions;

     (e) reviewing and analyzing pleadings, orders, schedules, and
other documents filed and to be filed with this Court by interested
parties in these cases; advising the Committee as to the necessity,
propriety, and impact of the foregoing upon these cases; and
consenting or objecting to pleadings or orders on behalf of the
Committee, as appropriate;

     (f) assisting the Committee in preparing such applications,
motions, memoranda, proposed orders, and other pleadings as may be
required in support of positions taken by the Committee;

     (g) conferring with the professionals retained by the Debtors
and other parties-in-interest, as well as with such other
professionals as may be selected and employed by the Committee;

     (h) coordinating the receipt and dissemination of information
prepared by and received from the Debtors' professionals, as well
as such information as may be received from professionals engaged
by the Committee or other parties-in-interest in these cases;

     (i) participating in such examinations of the Debtors and
other witnesses as may be necessary in order to analyze and
determine, among other things, the Debtors' assets and financial
condition, whether the Debtors have made any avoidable transfers of
property, or whether causes of action exist on behalf of the
Debtors' estates; and

     (j) negotiating and, if necessary or advisable, formulating a
plan of reorganization for the Debtors; and assisting the Committee
generally in performing such other services as may be desirable or
required for the discharge of the Committee's duties pursuant to
Bankruptcy Code Section 1103.

Brown Rudnick LLP will work closely with the Committee's other
professionals, generally, and Schwartz Law, PLLC, specifically, to
ensure that there is no unnecessary duplication of services.

The hourly rates of the firm's attorneys and paraprofessionals who
will work in this representation are as follows:

     Cathrine M. Castaldi                       $1,000
     Max D. Schlan                                $815
     Other Attorneys                     $510 - $1,700
     Paraprofessionals                     $375 - $465

Brown Rudnick agreed that it would provide a blended hourly rate of
$750 inclusive with the fees provided incurred by Brown Rudnick's
proposed co-counsel, Schwartz Law, PLLC.

In addition, the firm will charge the Committee for any other
expenses incurred in connection with this representation.

The following is provided in response to the request for additional
information set forth in Paragraph D.1. of the Appendix B
Guidelines.

Question: Did you agree to any variations from, or alternatives to,
your standard or customary billing arrangements for this
engagement?

Response: Yes. Brown Rudnick has agreed to a blended hourly rate of
$750 inclusive with the fees provided incurred by Brown Rudnick's
proposed co-counsel, Schwartz Law.

Question: Do any of the professionals included in this engagement
vary their rate based on the geographic location of the bankruptcy
case?

Response: No.

Question: If you represented the client in the 12 months
prepetition, disclose your billing rates and material financial
terms for the prepetition engagement, including any adjustments
during the 12 months prepetition. If your billing rates and
material financial terms have changed postpetition, explain the
difference and the reasons for the difference.

Response: N/A

Question: Has your client approved your prospective budget and
staffing plan, and, if so for what budget period?

Response: The Committee has approved a staffing plan and the
parties are currently working on a proposed budget.

Cathrine M. Castaldi, Esq., a partner at the law firm of Brown
Rudnick LLP, disclosed in court filings that the firm is a
"disinterested person" as that term is defined in section 101(14)
of the Bankruptcy Code.

The firm can be reached through:
        
     Cathrine M. Castaldi, Esq.
     BROWN RUDNICK LLP
     2211 Michelson Drive, Seventh Floor
     Irvine, CA 92612
     Telephone: (949) 752-7100
     Facsimile: (949) 252-1514
     E-mail: ccastaldi@brownrudnick.com

                                    About Red Rose

Red Rose, Inc., its affiliates and its parent company Petersen-Dean
Inc., a full-service, privately-held roofing and solar company,
sought protection under Chapter 11 of the Bankruptcy Code (Bankr.
D. Nev. Lead Case No. 20-12814) on June 11, 2020. At the time of
the filing, Red Rose and Petersen-Dean each disclosed assets of
between $10 million and $50 million and liabilities of the same
range. Judge Mike K. Nakagawa oversees the cases. Debtors are
represented by Fox Rothschild, LLP.

The Official Committee of Unsecured Creditors was appointed by the
U.S. Trustee for Region 17 on June 27, 2020. The committee tapped
Brown Rudnick LLP as bankruptcy counsel and Schwartz Law, PLLC as
local and co-counsel.


RED ROSE: Committee Hires GlassRatner as Financial Advisor
----------------------------------------------------------
The Official Committee of Unsecured Creditors of Red Rose, Inc.,
and its debtor-affiliates, seeks authorization from the U.S.
Bankruptcy Court for the District of Nevada to retain GlassRatner
Advisory & Capital Group, LLC, as financial advisor to the
Committee.

The Committee requires GlassRatner to:

   a) analyze the financial operations of the Debtors pre and
      post-petition, as necessary;

   b) analyze the financial ramifications of any proposed
      transactions for which the Debtors seek Bankruptcy Court
      approval including, but not limited to, postpetition
      financing, a restructuring and a sale of the Debtors's
      assets outside the ordinary course;

   c) conduct financial analyses including verifying the material
      assets and liabilities of the Debtors, as necessary, and
      their value;

   d) assist the Committee in its review of monthly operating
      reports submitted by the Debtors;

   e) assist the Committee in its evaluation of cash flow, the
      critical vendor program, and/or other projections prepared
      by the Debtors;

   f) perform forensic investigation services, as requested by
      the Committee and counsel, regarding pre-petition
      activities of the Debtors and other parties in order to
      identify potential causes of action;

   g) analyze transactions with insiders, related, and/or
      affiliated companies;

   h) analyze various cash management, shared services, and other
      agreements and arrangements between the Debtors and related
      parties;

   i) testify at hearings from time to time as required by the
      circumstances; and

   j) provide such other additional services as are requested by
      the Committee in the exercise of the Committee's duties.

GlassRatner will be paid at these hourly rates:

     Senior Managing Directors                 $425 to $525
     Other Directors and Associates            $195 to $395

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

Seth R. Freeman, a partner of senior managing director of
GlassRatner Advisory & Capital Group, LLC, assured the Court that
the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and (a) is not creditors,
equity security holders or insiders of the Debtors; (b) has not
been, within two years before the date of the filing of the
Debtors' chapter 11 petition, directors, officers or employees of
the Debtors; and (c) does not have an interest materially adverse
to the interest of the estate or of any class of creditors or
equity security holders, by reason of any direct or indirect
relationship to, connection with, or interest in, the Debtors, or
for any other reason.

GlassRatner Advisory can be reached at:

     Seth R. Freeman
     GLASSRATNER ADVISORY &
     CAPITAL GROUP, LLC
     425 California Street, Suite 900
     San Francisco, CA 94104

                       About Red Rose

Red Rose, Inc., its affiliates and its parent company Petersen-Dean
Inc., a full-service, privately-held roofing and solar company,
sought protection under Chapter 11 of the Bankruptcy Code (Bankr.
D. Nev. Lead Case No. 20-12814) on June 11, 2020.  At the time of
the filing, Red Rose and Petersen-Dean each disclosed assets of
between $10 million and $50 million and liabilities of the
samerange.

Judge Mike K. Nakagawa oversees the cases.

The Debtors are represented by Fox Rothschild, LLP. GlassRatner
Advisory & Capital Group, LLC, as financial advisor.



REGALIA UNITS: Seeks to Tap Pordes Residential as Real Estate Agent
-------------------------------------------------------------------
Regalia Units Owner, LLC seeks approval from the U.S. Bankruptcy
Court for the Southern District of Florida to employ Mark Pordes of
Pordes Residential Sales and Marketing, LLC as real estate agent.

The Debtor desires to employ Mark Pordes to provide assistance in
selling the Debtor's two ultra-luxury residential condominium
apartment units at the Regalia Beach Condominium located in
Miami-Dade County, Florida.

The broker will render these services for the Debtor:

     (a) development of advertisements, news releases, literature,
floor plans, descriptions of Units and all other written and
pictorial, audio and digital promotional material relating to the
sales of the Units in accordance with the Marketing Plan;

     (b) assistance with negotiations regarding any potential
transactions involving the Units;

     (c) analysis of and recommendations regarding offers for
transactions involving the Units; and,

     (d) assistance with consummation of any transactions involving
the Units.

The broker recommends listing the Units at $32,000,000 (Penthouse)
and $21,000,000 (Beach House).

The Debtor requests that this Court approve the compensation to the
broker of (i) a commission, due in full at the time of closing or
transfer of title to the properties, in an amount equal to (a) 2.5%
of the Net Sales Price of a Unit where broker has procured the bona
fide purchaser (who actually closes on) such Unit with the
participation or assistance of a cooperating broker or agent, or
(b) 5% of the Net Sales Price of a Unit where broker has procured a
bona fide purchaser (who actually closes on) such Unit of the
Project without the assistance or involvement of a cooperating
broker, plus (ii) a monthly petty cash fund in the amount of
$1,000.00, to support office expenses.

The Debtor also requests that this Court approve the compensation
to any cooperating broker in an amount equal to 5% of the Net Sales
Price.

Mark Pordes, the president and qualifying broker at Pordes
Residential Sales and Marketing, LLC, disclosed in court filings
that the firm is a "disinterested person" as that term is defined
in section 101(14) of the Bankruptcy Code.

The professional can be reached at:
        
     Mark Pordes
     PORDES RESIDENTIAL SALES AND MARKETING, LLC
     18851 NE 29 Avenue, Suite 1000
     Aventura, FL 33180
     Telephone: (954) 865-8122
     E-mail: mark@pordesresidential.com

                             About Regalia Units Owner

Regalia Units Owner LLC, and Regalia Beach Developers LLC, which
are engaged in activities related to real estate, sought Chapter 11
protection (Bankr. S.D. Fla. Lead Case No. 20-15747) on May 27,
2020. At the time of the filing, both Debtors disclosed assets of
between $10 million and $50 million and liabilities of the same
range. Judge Laurel M. Isicoff oversees the cases. Pardo Jackson
Gainsburg, PL is the Debtors' legal counsel.


ROBERT ALLEN: Land Quest Buying 2 Pocatello Townsite Lots for $74K
------------------------------------------------------------------
Robert Allen Auto Group, Inc., asks the U.S. Bankruptcy Court for
the District of Idaho to authorize the sale to Land Quest
Development, Inc. of the lots identified in Exhibit A as the 6th
Street Lot (Legal description of Lots 7 & W70' Lots 9 & 10, Block
270, Pocatello Townsite) for $49,000, and the Lander Street Lot
(Legal of Lots 1 & 2, Block 269, Pocatello Townsite) for $25,000,
totaling less than half an acre.

RAAG holds the real property identified in green on the map in
Exhibit A, consisting of two major buildings and several pieces of
land.  The only portions being sold are the 6th Street Lot and the
Lander Street Lot.

According to Bannock County's parcel records, the 6th Street Lot
consists of two separate pieces, one of approximately 0.19 acres
and the other of approximately 0.10 acres for total acreage of
approximately 0.29 acres.  According to Bannock County's parcel
records, the Lander Street Lot consists of one piece of
approximately 0.19 acres.

The proposed terms are:

     a. The Buyer is offering $49,000 for the 6th Street Lot and
$25,000 for the Lander Street Lot and the requested closing date is
July 31, 2020.

     b. The terms of the proposed sales are contained in the offers
and applicable addendums: Exhibit B for the 6th Street Lot and
Exhibit C for the Lander Street Lot.

There are two creditors with applicable liens:

     a. The Bannock County Treasurer has a property tax lien on the
property at issue estimated to total $7,029.

     b. Nissan Motor Acceptance Corp. has a Deed of Trust recording
against the real property of the Debtor securing a promissory note
with an estimated balance due of $2,744,314 as of May 7, 2020.

Expenses of the sales are estimated to be the following:

     a. Commissions for the Real Estate Brokerage of 6% of the
sales price;

     b. The costs of a Standard Coverage Owner's Title Policy and
half of the closing escrow fee; and

     c. Outstanding property taxes.

The Debtor believes that these offers reflect the current market
price for such property and asks for approval of a private sale to
Land Quest.

All net funds will be placed in the Debtor's DIP account for
distribution pursuant to its forthcoming Plan of Reorganization
and/or used with the consent of Nissan Motor.
Finally, the Debtor asks waiver of the 14-day period under
Bankruptcy Rule 6004(h).

Objections, if any, must be filed within 17 days of the date of
service of the Notice.

A copy of the Exhibits is available for free at
https://tinyurl.com/y73josvg from PacerMonitor.com free of charge.

                  About Robert Allen Auto Group

Robert Allen Auto Group, Inc., is a dealer of automobiles based in
Pocatello, Idaho.  Robert Allen Auto Group filed a Chapter 11
petition (Bankr. D. Idaho Case No. 20-40163) on March 2, 2020.  In
the petition signed by Robert Allen, president, the Debtor
disclosed $4,312,279 in assets and $2,097,927 in liabilities.  

Steven L. Taggart, Esq., at MAYNES TAGGART PLLC, serves as
bankruptcy counsel to the Debtor.  The Court appproved Shawn Perry
as real estate agent for the estate.


S & S 126 INVESTMENT: Seeks to Hire Matthew Abbasi as Counsel
-------------------------------------------------------------
S & S 126 Investment, LLC seeks approval from the U.S. Bankruptcy
Court for the Central District of California to employ Matthew
Abbasi, Esq., and the Abbasi Law Corporation as general insolvency
counsel.

The firm will render these legal services to the Debtor:

     (a) represent the Debtor at its Initial Debtor Interview;

     (b) represent the Debtor its meeting of creditors pursuant to
Bankruptcy Code Section 341(a), or any continuance thereof;

     (c) represent the Debtor at all hearings before the United
States Bankruptcy Court involving the Debtor as
debtor-in-possession and as reorganized Debtor, as applicable;

     (d) prepare on behalf of the Debtor, as debtor-in-possession
all necessary applications, motions, orders, and other legal
papers;

     (e) advise the Debtor, regarding matters of bankruptcy law,
including the Debtor's rights and remedies with respect to the
Debtor's assets and the claims of its creditors;

     (f) represent the Debtor with regard to all contested
matters;

     (g) represent the Debtor with regard to the preparation of a
disclosure statement and the negotiation, preparation, and
implementation of a plan of reorganization;

     (h) analyze any secured, priority, or general unsecured claims
that have been filed in the Debtor's bankruptcy case;

     (i) negotiate with the Debtor's secured and unsecured
creditors regarding the amount and payment of their claims;

     (j) object to claims as may be appropriate;

     (k) perform all other legal services for the Debtor as
debtor-in-possession as may be necessary, other than adversary
proceedings which would require a further written agreement;

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

     (m) provide counseling with respect to the general corporate,
securities, real estate, litigation, environmental, state
regulatory, and other legal matters which may arise during the
pendency of this Chapter 11 case; and

     (n) perform all other legal services that is desirable and
necessary for the efficient and economic administration of this
chapter 11 case.

The firm has agreed to represent the Debtor based on a discounted
hourly rate of $350.00; Paralegal hourly rate of 60.00; and Law
Clerk hourly rate of $25.00 plus the payment of all costs and fees
incurred in the administration of this case.

Prior to the commencement of the herein chapter 11 case, the firm
received a retainer deposit of $10,000.00 from Mr. Eshagh Malekan,
the Debtor's managing member, to cover pre-petition legal services;
post-petition legal services; initial case filing fees of $1,717.00
for this matter, and all other costs/expenses incurred.

Matthew Abbasi, Esq., of the Abbasi Law Corporation disclosed in
court filings that the firm is a "disinterested person" as that
term is defined in section 101(14) of the Bankruptcy Code.

The firm can be reached through:
        
     Matthew Abbasi, Esq.
     ABBASI LAW CORPORATION
     8889 West Olympic Blvd, Suite 240
     Beverly Hills, CA 90211
     Telephone: (310) 358-9341
     Facsimile: (888) 709-5448
     E-mail: matthew@malawgroup.com

                             About S & S 126 Investment

S & S 126 Investment, LLC, owns a real property located 1826 N.
Palmer Court, Long Beach, Calif., filed a voluntary petition for
relief under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Cal.
Case No. 20-11069) on June 15, 2020, listing under $1 million in
both assets and liabilities. Abbasi Law Corporation, led by Matthew
Abbasi, Esq., is the Debtor's counsel.


S&S CONTRACTING: Files for Chapter 7 Bankruptcy
-----------------------------------------------
The Tampa Bay Business Journal reports that S&S Contracting Inc.
filed for voluntary Chapter 7 bankruptcy protection June 17, 2020,
in the Middle District of Florida.  The Debtor listed an address of
5800 US Hwy. 17 S., Bartow, and is represented in court by attorney
Thomas Joel Chawk.  S&S Contracting listed assets up to $590,534
and debts up to $1,343,342.  The filing's largest creditor was
listed as CenterState Bank of Bartow with an outstanding claim of
$370,000.


SAHBRA FARMS: Seeks to Tap Kenneth J. Fisher as Litigation Counsel
------------------------------------------------------------------
Sahbra Farms, Inc. seeks approval from the U.S. Bankruptcy Court
for the Northern District of Ohio to employ Kenneth J. Fisher Co.,
L.P.A. as special counsel.

The Debtor desires to employ the firm to represent it in a
litigation with the City of Streetsboro with respect to taking
damages resulting from the denial, by the City Planning Commission,
of a Conditional Use Permit for mining.

The firm's legal services shall be contingently invoiced at the
rate of one-third (1/3) of recovered amounts, if any, whether
through settlement or otherwise. The Debtor shall be responsible
for all necessary costs and expenses incurred by the firm in this
representation.

Kenneth J. Fisher, a member of Kenneth J. Fisher Co., L.P.A.,
disclosed in court filings that neither him nor the firm hold or
represent an interest adverse to the Debtor. Neither him nor the
firm has any connection with the Debtor's creditors or any other
party-in-interest herein.

The firm can be reached through:
        
     Kenneth J. Fisher, Esq.
     KENNETH J. FISHER CO., L.P.A.
     50 Public Square, Suite #2100
     Cleveland, OH 44113
     Telephone: (216) 696-7661
     Facsimile: (216) 696-0439
     E-mail: kfisher@fisher-LPA.com

                                  About Sahbra Farms

Sahbra Farms Inc. -- a horse breeder in Streetsboro, Ohio –
sought protection under Chapter 11 of the Bankruptcy Code (Bankr.
N.D. Ohio Case No. 19-51155) on May 16, 2019. In the petition
signed by its president, David Gross, the Debtor disclosed
$3,286,476 in assets and $2,684,224 in debts. The Hon. Alan M.
Koschik is the case judge. The Debtor is represented by Thomas W.
Coffey, Esq. at Coffey Law LLC. Kenneth J. Fisher Co., L.P.A. is
tapped as special counsel.


SEARS HOLDINGS: Hackensack Sears Poised To Be Next in NJ to Shutter
-------------------------------------------------------------------
Lianna Albrizio, writing for Tapinto, reports that Sears, the
archaic but once iconic department store that has towered over
Hackensack's downtown since the early 1930s -- the decade defined
by a global economic and political crisis that led up to World War
II -- is poised to be the second-to-last such department store in
New Jersey to shutter.

While no formal announcement was made confirming the closure, a
pair of job listings were posted on its official website for a
40-hour-per-week cashier and backroom temp with the words "store
closing" in all caps beside an asterisk.

When reached by email Wednesday, Larry Costello, the public
relations director of Transformco SR Brands LLC for Sears/Kmart, an
American privately held company that formed in February 2019 to
acquire part of the assets of Sears Holdings Corporation, said
"we'll decline comment."

Besides the Sears in Rockaway, which also has job listings on its
website related to a closing store, the only Sears left in the
Garden State after Hackensack's pending closure is the Jersey City
Sears at the Newport Center Mall.

Immense debt forced Sears to file for Chapter 11 bankruptcy
protection in October 2018.  Upon filing for bankruptcy that year,
Sears announced plans to close 142 stores and commence liquidation
sales.  The department store -- which sells brand-name and
signature appliances, tools, home goods, and apparel among other
items -- was once the biggest retailer in the United States until
it was outshone by Walmart 30 years ago following other such
competition like online giant Amazon, Target, Lowe's and Home
Depot. At the time of its financial restructuring almost two years
ago, Sears declared the closures of loss-making stores and
redirected its focus on the operation of well-performing ones.

The same year the chain filed for bankruptcy, Sears shuttered its
locations in Middletown and Deptford, in addition to a Kmart in
Glassboro. That same year, the Sears at the Paramus Park Mall also
vacated the premises after it was sold following a real estate
venture with the mall's owner, Brookfield Properties. After serving
as a longtime fixture since 1974, it is now home to Stew
Leonard’s, which marked its much-anticipated opening last
September with a visit from Martha Stewart. The gourmet grocery
store's new home at the Paramus Park Mall marks the chain's first
New Jersey location and the store's seventh location after its six
other tri-state area stores, which include three in New York and
another three in Connecticut.

When Sears first opened in Hackensack on October 27, 1932 at 436
Main Street, what had become the city's landmark department store
decades later was the largest of its kind in all of Bergen County,
according to the county’s historic site survey, and it's
population was almost half of what it is today.

                    About Sears Holdings Corp.

Sears Holdings Corporation (OTCMKTS: SHLDQ) --
http://www.searsholdings.com/-- began as a mail ordering catalog
company in 1887 and became the world's largest retailer in the
1960s. At its peak, Sears was present in almost every big mall
across the U.S., and sold everything from toys and auto parts to
mail-order homes. Sears claims to be is a market leader in the
appliance, tool, lawn and garden, fitness equipment, and automotive
repair and maintenance retail sectors.

Sears and Kmart merged to form Sears Holdings in 2005 when they had
3,500 US stores between them. Kmart emerged in 2005 from its own
bankruptcy.

Unable to keep up with online stores and other brick-and-mortar
retailers, a long series of store closings has left it with 687
retail stores in 49 states, Guam, Puerto Rico, and the U.S. Virgin
Islands as of mid-October 2018. At that time, the Company employed
68,000 individuals, of whom 32,000 are full-time employees.

As of Aug. 4, 2018, Sears Holdings had $6.93 billion in total
assets, $11.33 billion in total liabilities and a total deficit of
$4.40 billion.

Unable to cover a $134 million debt payment due Oct. 15, 2018,
Sears Holdings Corporation and 49 subsidiaries sought Chapter 11
protection (Bankr. S.D.N.Y. Lead Case No. 18-23538) on Oct. 15,
2018. The Hon. Robert D. Drain is the case judge.

The Debtors tapped Weil, Gotshal & Manges LLP as legal counsel;
M-III Partners as restructuring advisor; Lazard Freres & Co. LLC as
investment banker; DLA Piper LLP as real estate advisor; and Prime
Clerk as claims and noticing agent.

The U.S. Trustee for Region 2 appointed nine creditors, including
the Pension Benefit Guaranty Corp., and landlord Simon Property
Group, L.P., to serve on the official committee of unsecured
creditors. The committee tapped Akin Gump Strauss Hauer & Feld LLP
as legal counsel; FTI Consulting as financial advisor; and Houlihan
Lokey Capital, Inc. as investment banker.

The U.S. Trustee for Region 2 on July 9, 2019, appointed five
retirees to serve on the committee representing retirees with life
insurance benefits in the Chapter 11 cases.

                         *     *     *

In February 2019, Bankruptcy Judge Robert Drain granted Sears
Holdings approval to sell the business to majority shareholder and
CEO Eddie Lampert for approximately $5.2 billion. Lampert's ESL
Investments, Inc., has won an auction to acquire substantially all
of Sears' assets, including the "Go Forward Stores" on a
going-concern basis. The proposal will allow 425 stores to remain
open and provide ongoing employment to 45,000 employees.


SEARS HOLDINGS: Plans to Sell Its Home Improvement Business
-----------------------------------------------------------
Reuters reports that Sears plans to sell its home improvement
business.

Sears Home Services, which supplies appliance repairs and home
renovations, could fetch $1 billion in a potential sale.

Giving up the Magnolia Home game is an odd move in these times.
Consumers are finally catching up on the renovation projects they
started in 1999, leading to sales surges across national home
improvement retailers and local hardware chains alike.

But this is Sears, a retailer as notorious for its financial
troubles as its picture day polo shirts.  Since exiting Chapter 11
bankruptcy in 2019, Sears has offloaded various business units to
pay down its debts, including:

  * Innovel Solutions, a logistics firm it sold to Costco for $1
billion earlier this year.

  * DieHard, a battery line it sold to Advance Auto Parts for $200
million in 2019.

                      About Sears Holdings Corp.

Sears Holdings Corporation (OTCMKTS:
SHLDQ)--http://www.searsholdings.com/-- began as a mail ordering
catalog company in 1887 and became the world's largest retailer in
the 1960s. At its peak, Sears was present in almost every big mall
across the U.S., and sold everything from toys and auto parts to
mail-order homes. Sears claims to be is a market leader in the
appliance, tool, lawn and garden, fitness equipment, and automotive
repair and maintenance retail sectors.

Sears and Kmart merged to form Sears Holdings in 2005 when they had
3,500 US stores between them. Kmart emerged in 2005 from its own
bankruptcy.

Unable to keep up with online stores and other brick-and-mortar
retailers, a long series of store closings has left it with 687
retail stores in 49 states, Guam, Puerto Rico, and the U.S. Virgin
Islands as of mid-October 2018. At that time, the Company employed
68,000 individuals, of whom 32,000 are full-time employees.

As of Aug. 4, 2018, Sears Holdings had $6.93 billion in total
assets, $11.33 billion in total liabilities and a total deficit of
$4.40 billion.

Unable to cover a $134 million debt payment due Oct. 15, 2018,
Sears Holdings Corporation and 49 subsidiaries sought Chapter 11
protection (Bankr. S.D.N.Y. Lead Case No. 18-23538) on Oct. 15,
2018. The Hon. Robert D. Drain is the case judge.

The Debtors tapped Weil, Gotshal & Manges LLP as legal counsel;
M-III Partners as restructuring advisor; Lazard Freres & Co. LLC as
investment banker; DLA Piper LLP as real estate advisor; and Prime
Clerk as claims and noticing agent.

The U.S. Trustee for Region 2 appointed nine creditors, including
the Pension Benefit Guaranty Corp., and landlord Simon Property
Group, L.P., to serve on the official committee of unsecured
creditors. The committee tapped Akin Gump Strauss Hauer & Feld LLP
as legal counsel; FTI Consulting as financial advisor; and
Houlihan
Lokey Capital, Inc. as investment banker.

The U.S. Trustee for Region 2 on July 9, 2019, appointed five
retirees to serve on the committee representing retirees with life
insurance benefits in the Chapter 11 cases.

                         *     *     *

In February 2019, Bankruptcy Judge Robert Drain granted Sears
Holdings approval to sell the business to majority shareholder and
CEO Eddie Lampert for approximately $5.2 billion.  Lampert's ESL
Investments, Inc., has won an auction to acquire substantially all
of Sears' assets, including the "Go Forward Stores" on a
going-concern basis.  The proposal will allow 425 stores to remain
open and provide ongoing employment to 45,000 employees.


SHALE FARM: Aug. 20 Hearing on Lee Road Property Set
----------------------------------------------------
Judge Suzanne H. Bauknight of the U.S. Bankruptcy Court for the
Eastern District of Tennessee will convene a hearing on Aug. 20,
2020 at 10:00 a.m. to consider Shale Farms, LLC's sale of the
following unimproved farm land located on Lee Road in Greene
County, Tennessee: Lot 53, comprising 1 acre, to Mark Marszalek for
$19,000, free and clear of liens, in accordance with their Lot/Land
Purchase and Sale Agreement.

There are no liens against the Lot 53.

The Debtor has filed a Motion to Shorten the time of notice
required for a hearing on its Motion to Sell Real Property Free and
Clear of Lien.  For good cause shown, the Court shortened the time
for notice with regard for said Motion from 21 days to 16 days.

The bankruptcy case is In re Shale Farms, LLC (Bankr. E.D. Tenn.
Case No. 20-31787).


SHALE FARMS: Seeks to Hire Moore and Brooks Counsel
---------------------------------------------------
Shale Farms, LLC, seeks authority from the U.S. Bankruptcy Court
for the Eastern District of Tennessee to employ Moore and Brooks,
as counsel to the Debtor.

Shale Farms requires Moore and Brooks to:

   a. prepare and file bankruptcy statements and schedules,
      motion to sell real property free and clear of liens;

   b. assist in the preparation and confirmation of a Plan,
      negotiations with creditors regarding claims;

   c. appear in Court; and

   d. provide legal and bankruptcy advice and representation.

Moore and Brooks will be paid at these hourly rates:

     James R. Moore                 $300
     Brenda G. Brooks               $235
     Paralegal                      $95

The Debtor paid Moore & Brooks in the amount of $5,388.10 for legal
fees for the months of May and June 2020. Moore and Brooks has not
yet billed the Debtor for the month of July 2020, however services
for July total of $4,735 up to the day of filing. Additionally, the
filing fee of $1,717.00 was received by Moore & Brooks and
disbursed for payment of the filing fee.

Moore and Brooks will also be reimbursed for reasonable
out-of-pocket expenses incurred.

James R. Moore, a partner of Moore and Brooks, 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.

Moore and Brooks can be reached at:

     James R. Moore, Esq.
     MOORE AND BROOKS
     6223 Highland Place Way, Suite 102
     Knoxville, TN 37919
     Telephone: (865) 450-5455

                      About Shale Farms

Shale Farms, LLC, filed a Chapter 11 bankruptcy petition (Bankr.
E.D. Tenn. Case No. 20-31787) on July 29, 2020.  The Debtor hired
Moore and Brooks, as counsel.


SHALE FARMS: Seeks to Hire RE/MAX Real Estate as Broker
-------------------------------------------------------
Shale Farms, LLC, seeks authority from the U.S. Bankruptcy Court
for the Eastern District of Tennessee to employ RE/MAX Real Estate
Ten, Inc., as broker to the Debtor.

Shale Farms requires RE/MAX Real Estate to market and sell the
Debtor's unimproved farm land totaling 60.64 acres located in
Greene County, Tennessee.

RE/MAX Real Estate will be paid a commission of 10% of the gross
sales price.

Rhonda Krenzer, member of RE/MAX Real Estate Ten, Inc., assured the
Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and does not
represent any interest adverse to the Debtor and its estates.

RE/MAX Real Estate can be reached at:

     Rhonda Krenzer
     RE/MAX Real Estate Ten, Inc.
     2320 E Morris Blvd
     Morristown, TN 37813
     Tel: (423) 839-2251

                       About Shale Farms

Shale Farms, LLC, filed a Chapter 11 bankruptcy petition (Bankr.
E.D. Tenn. Case No. 20-31787) on July 29, 2020.  The Debtor hired
Moore and Brooks, as counsel.


SINTX TECHNOLOGIES: Prices $8.2 Million Common Stock Offering
-------------------------------------------------------------
SINTX Technologies, Inc., has entered into a share purchase
agreement with several institutional investors for the issuance and
sale of 3,415,000 shares of its common stock at a price of $2.40
per share, for aggregate gross proceeds of approximately $8.2
million, in a registered direct offering priced at-the-market under
Nasdaq rules.

Maxim Group LLC is acting as the sole placement agent for the
offering.

The offering is expected to close on or about Aug. 7, 2020, subject
to the satisfaction of customary closing conditions.

The shares of common stock are being offered pursuant to a shelf
registration statement on Form S-3 (File No. 333-230492) previously
filed and declared effective by the Securities and Exchange
Commission (SEC) on April 5, 2019.  The offering of the shares of
common stock will be made only by means of a prospectus supplement
that forms a part of the registration statement.

                     About SINTX Technologies

Headquartered in Salt Lake City, Utah, SINTX Technologies --
https://ir.sintx.com -- is an OEM ceramics company that develops
and commercializes silicon nitride for medical and non-medical
applications.  The core strength of SINTX Technologies is the
manufacturing, research, and development of silicon nitride
ceramics for external partners.  The Company manufactures silicon
nitride material and components in its FDA registered and ISO 13485
certified facility.

SINTX reported a net loss attributable to common stockholders of
$7.50 million for the year ended Dec. 31, 2019, compared to a net
loss attributable to common stockholders of $22.55 million for the
year ended Dec. 31, 2018.  As of March 31, 2020, the Company had
$15.36 million in total assets, $4.15 million in total liabilities,
and $11.21 million in total stockholders' equity.


SMWS GROUP: Trustee Seeks to Hire Gary A. Rosen as Legal Counsel
----------------------------------------------------------------
Gary A. Rosen, the appointed Trustee in the Chapter 11 case of SMWS
Group, LLC, seeks approval from the U.S. Bankruptcy Court for the
District of Maryland to employ the law firm of Gary A. Rosen,
Chartered, as attorney.

The Trustee seeks to be authorized to act as the attorney for the
estate.

Gary A. Rosen will render the following legal services:

     (a) to give legal advice as to the sufficiency of claims
against the estate and of claims which the estate may have against
other persons;

     (b) to pursue claims through Court proceedings or other
proceedings which may be necessary to recover monies owed to the
estate;

     (c) to perform all other legal services for the Trustee which
may be necessary in the administration of the estate herein.

Gary A. Rosen will charge the estate at his normal hourly rate of
$525.00 per hour for services.

Gary A. Rosen, a member of the law firm of Gary A. Rosen, Chartered
and the Trustee in this case, disclosed in court filings that he
and the firm are "disinterested persons" as that term is defined in
section 101(14) of the Bankruptcy Code.

The firm can be reached through:
        
     Gary A. Rosen, Esq.
     GARY A. ROSEN, CHARTERED
     One Church Street, Suite 800
     Rockville, MD 20814
     Telephone: (301) 251-0202
     E-mail: trusteerosen@gmail.com

                                 About SMWS Group

SMWS Group LLC is a lessor of real estate based in Germantown,
Maryland. The company filed for chapter 11 bankruptcy protection
(Bankr. D. Md. Case No. 19-12941) on March 6, 2019, with estimated
assets of $1 million to $10 million and estimated liabilities at
$500,000 to $1 million. The petition was signed by Asia Shah,
managing member.

The Company previously sought bankruptcy protection on Dec. 13,
2018 (Bankr. D. Md. Case No. 18-26379).

Gary A. Rosen was appointed as Chapter 11 Trustee on Oct. 16, 2019.


STAGE STORES: Gordmans Reopens in Penn Yan, NY to Liquidate
-----------------------------------------------------------
Evening Tribune reports that Gordmans' store in Penn Yan, New York,
so recently revamped after the purchase of Peeble's, is open for
business, but only to liquidate the store's inventory.  The
retailer, which specializes in apparel and home decor and
celebrated a grand opening in February, is part of Stage Stores
Inc., which is based in Houston.

Stage announced earlier in May 2020 that the company has filed
voluntary petitions under Chapter 11 of the bankruptcy code in U.S.
Bankruptcy Court. According to the filing, the company will solicit
bids to sell its business or any of its assets and initiate an
orderly wind-down of operations at certain locations if it receives
a viable bid.

The stores have been closed since March and have been slowly
reopening as permitted across the country as they begin to
liquidate inventory, according to a company news release.

"This is a very difficult announcement, and it was a decision that
we reached only after exhausting every possible alternative," said
Michael Glazer, president and CEO of Stage Stores. "Over the last
several months, we had been taking significant steps to attempt to
strengthen our financial position and find an independent path
forward. However, the increasingly challenging market environment
was exacerbated by the COVID-19 pandemic, which required us to
temporarily close all of our stores and furlough the vast majority
of our associates. “Given these conditions, we have been unable
to obtain necessary financing and have no choice but to take these
actions."

The company intends to seek approval for a consensual use of cash
collateral to ensure it has the liquidity necessary to support its
operations under Chapter 11. It is seeking court authorization to
support its operations during the court-supervised process,
including the continued payment of employee wages, salaries and
health benefits without interruption for those employees who are
working during this time.

Management in Penn Yan says they have been told the store will be
closing possibly as soon as August. As part of the wind down, the
company expects to honor existing customer programs, including gift
cards and returns, for the first 30 days after a store reopens. The
company anticipates that it will stop accepting any outstanding
gift cards or honoring other customer programs after that time.

                       About Stage Stores

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

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

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

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

The Debtors tapped Kirkland & Ellis LLP as bankruptcy counsel;
Jackson Walker L.L.P. as local bankruptcy counsel; PJ Solomon,
L.P., is investment banker; Berkeley Research Group, LLC as
restructuring advisor; and A&G Realty as real estate consultant.
Gordon Brothers Retail Partners, LLC, will manage the Company's
inventory clearance sales.  Kurtzman Carson Consultants LLC is the
claims agent.


STAGE STORES: Unsecured Creditors to Have Less Than 6% Recovery
---------------------------------------------------------------
Debtors Stage Stores, Inc., and Specialty Retailers, Inc., filed a
Disclosure Statement describing its Amended Joint Chapter 11 Plan
dated June 30, 2020.

Class 4 General Unsecured Claims are projected to recover less than
6%. On the Effective Date, or as soon as reasonably practicable,
except to the extent that a Holder of an Allowed General Unsecured
Claim agrees to less favorable treatment, in full and final
satisfaction, compromise, settlement, and release of and in
exchange for each Allowed General Unsecured Claim, each Holder of
an Allowed General Unsecured Claim shall receive its Pro Rata share
of the General Unsecured Claims Recovery until paid in full.

A full-text copy of the Amended Plan dated June 30, 2020, is
available at https://tinyurl.com/ydamz39l from PacerMonitor at no
charge.

Proposed Co-Counsel to the Debtors:

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

              - and -

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

              - and -

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

                      About Stage Stores Inc.

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

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

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

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

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

                         *     *     *

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


STANDARD INDUSTRIES: Moody's Rates New Unsec. Notes Due 2031 'Ba2'
------------------------------------------------------------------
Moody's Investors Service assigned a Ba2 rating to Standard
Industries Inc.'s proposed issuance of senior unsecured notes due
2031. Standard's Ba2 Corporate Family Rating, Ba2-PD Probability of
Default Rating and the existing Ba2 rating on the company's senior
unsecured notes are not impacted by the proposed transaction. The
outlook remains stable.

Moody's views the proposed transaction as credit positive since
proceeds from proposed notes issuance will be used to redeem a
similar amount of the company's senior unsecured notes due 2025.
This transaction will reduce the refunding risk in late 2025.
Moody's expectation is that cash on hand will be used to pay the
call premium, accrued interest and related fees and expenses in a
leverage neutral transaction. Interest savings from the proposed
refinancing will be nominal relative to Standard's total future
cash interest payments, which Moody's estimates will be nearly $200
million per year.

"Standard Industries is showing a great willingness to refinance
debt significantly before upcoming maturity dates," according to
Peter Doyle, a Moody's VP-Senior Analyst.

The following ratings/assessments are affected by its action:

Assignments:

Issuer: Standard Industries Inc.

Senior Unsecured Regular Bond/Debenture, Assigned Ba2 (LGD4)

RATINGS RATIONALE

Standard Industries' Ba2 CFR reflects the company's very good
liquidity, including Moody's expectation of robust free cash flow
(prior to dividends) as the company reduces costs, works though
inventory and reduces capital expenditures. Free cash flow,
significant cash on hand and full availability under the company's
$650 million revolving credit facility is more than sufficient to
contend with ongoing economic uncertainty.

Moody's current forecast includes Standard's leverage at year end
will be around 5.0x at year end, slightly better than the leverage
of 5.2x at Q2 2020. Standard has a debt structure (long-term notes)
that does not lend itself to deleveraging through debt repayment.
The company's high leverage is Standard's greatest credit
challenge.

Moody's expectation is that Standard will benefit from an economic
recovery beginning in late 2020 or early 2021, even though revenue
and earnings will be at lower levels than the previous year.
Moody's believes that roofing repair products experience less
demand volatility than other building products due to their
nondiscretionary nature. The upfront costs for roof repair or
replacement are worth the investment compared to the potential
costs of repairing long-term damage from water and resulting
property damage. Also, many other home repair and remodeling
decisions can be postponed with little risk of marginal cost.

Economic disruptions caused by the coronavirus outbreak led to a
reduction of construction activity including the demand for
replacement of residential and commercial roofs. Moody's regards
the coronavirus outbreak as a social risk under its ESG framework,
given the substantial implications for public health and safety.
Governance risks Moody's considers in Standard's credit profile
include an aggressive financial policy evidenced by its high
leverage, dividends and potential for debt financed acquisitions.
Standard has no independent directors on its Board of Directors.

The stable outlook reflects Moody's expectation that Standard will
benefit from the economic recovery in its global end markets and
improve its credit metrics while maintaining its very good
liquidity profile.

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

Factors that could lead to an upgrade:

(All ratios incorporate Moody's standard adjustments):

  - Debt-to-LTM EBITDA maintained below 3.0x

  - A very good liquidity profile is preserved

  - Ongoing trends in end markets sustain organic growth

Factors that could lead to a downgrade:

(All ratios incorporate Moody's standard adjustments):

  - Debt-to-LTM EBITDA sustained above 4.25x

  - EBITA margin trending towards 10%

  - The company's liquidity profile deteriorates

Standard Industries Inc., headquartered in Parsippany, NJ, is a
leading manufacturer and marketer of roofing products and
accessories with operations primarily in North America and Europe.
The company manufactures and sells residential and commercial
roofing and waterproofing products, insulation products,
aggregates, specialty construction and other products. Standard
Industries is privately owned and does not disclose financial
information publicly.

The principal methodology used in this rating was Manufacturing
Methodology published in March 2020.


STEVEN BOYUM: Public Sale of Personal Property Approved
-------------------------------------------------------
Judge Katherine A. Constantine of the U.S. Bankruptcy Court for the
District of Minnesota authorized Steven A. Boyum and Tracy Boyum to
sell the personal property described as follows: John Deere 8 Row
Cultivator, John Deere 4430 Tractor, John Deere 4020 Tractor,
Wilrich 957 ripper, Summer Rock Picker, John Deere Air Compressor,
Gold Digger Pro Pull Type Tiller, 2006 Challenger MT865B Tractor,
Auger 10x71 Sudenga Swinghopper, Auger 10x35 Westfield Swinghopper,
John Deere 2210 55' Field Cultivator, Feterl 110x13 with Swing,
opper Sunengo 71x10 with Swing Hopper, Yettor 20' Rotary Hoe, 10
ton SS Fert Blonder with Conveyor, Liquid Storage Tanks 8 with
Pumps, Sprayer Transport System, Kinze 2600 31 Row Planter, and
John Deere 2014 Seed Tender.

The request for an expedited hearing is granted.

The Debtors may sell the Property at public sale and the proceeds
will be paid to the Debtor.  The liens of the security interests
will continue in the proceeds of such sale in the same dignity,
priority, and extent as enjoyed by the secured creditors prior to
the petition date.

The Debtors are authorized to pay the net proceeds to United
Prairie Bank without prejudice to the claims of any other
creditors.  

Notwithstanding Fed. R. Bankr. P. 6004(h), the Order is effective
immediately.

Steven A. Boyum and Tracy Boyum sought Chapter 11 protection
(Bankr. D. Minn. Case No. 18-32309) on July 23, 2018.  The Debtor
tapped David C. McLaughlin, Esq., at Fluegel Anderson McLaughlin &
Brutlag, as counsel.



SUMMIT MIDSTREAM: S&P Raises ICR to 'CCC'; Outlook Negative
-----------------------------------------------------------
S&P Global Ratings raised its issuer credit rating on Summit
Midstream Partners L.P. (SMLP) to 'CCC' from 'SD'. The outlook is
negative.

S&P is raising its issue-level rating on Summit Midstream Holdings
LLC's senior unsecured debt to 'CCC' from 'D', reflecting its '4'
recovery rating. The '4' recovery rating reflects S&P's expectation
of average (30%-50%; rounded estimate: 30%) recovery in the event
of a default.

The rating agency is also raising its rating on SMLP's preferred
stock to 'C' from 'D', two notches below its issuer credit rating
on SMLP to reflect the company's subordination within the capital
structure, and one additional notch for deferability.

S&P is affirming its 'CCC' issuer credit rating on Summit Midstream
Partners Holdings LLC (SMP Holdings). The outlook is negative.

SMP Holdings' senior secured debt issue-level rating remains at
'CC', reflecting S&P's '6' recovery rating and the structural
subordination in the capital structure. The '6' recovery rating
reflects S&P's expectation of negligible (0%-10%; rounded estimate:
0%) recovery in the event of default.

Over the past month, SMLP has completed several distressed
transactions, including a $62.8 million preferred unit exchange
(S&P assesses this security as having intermediate (50%) equity
content, and have removed $31.4 million from SMLP's debt balance)
and debt repurchases totaling $134 million of face value senior
unsecured debt. In aggregate S&P has removed approximately $165
million from its adjusted SMLP debt balance based on these
transactions. While S&P views these transactions as distressed, as
holders received less than the original promise of securities, the
rating agency recognizes the partnership is taking progressive
steps to clean up the balance sheet. The continued overhang of the
general partner's term loan obligation and the looming potential
for a restructuring coupled with the refinancing risk of
approximately $1 billion of debt maturities coming due in 2022
($698 million drawn as of March 31, 2020, on the unrated revolving
credit facility plus the approximate $270 million under the 2022
notes) continues to weigh on the partnership's overall credit
quality and underpins S&P's ratings transition to 'CCC'.

S&P now forecasts SMLP will achieve an adjusted 2020 EBITDA base
between $250 million to $260 million and an adjusted debt to EBITDA
of 6.5x-7x range.

The negative outlook reflects S&P's view that the partnership still
faces several hurdles with its capital structure over the next 12
months. Despite progressive steps by management over the past month
to clean up the balance sheet, S&P expects SMLP will remain under
pressure with the overhang of its former general partner's term
loan obligation and elevated refinancing risk with the
partnership's 2022 maturities. The rating agency now forecasts
adjusted 2020 debt to EBITDA in the 6.5x-7x range.

"We could lower our rating on SMLP if it announced a restructuring
of its general partner's debt or missed an interest or amortization
payment over the next 6 months," S&P said.

"We could consider a positive rating action if the partnership
successfully refinanced its upcoming maturities while continuing to
service its general partner's term loan obligation," the rating
agency said.


SURGICAL SPECIALISTS: Taps Julianne Frank as Legal Counsel
----------------------------------------------------------
Surgical Specialists of St Lucie County, LLC received approval from
the U.S. Bankruptcy Court for the Southern District of Florida to
hire Julianne Frank, P.A. as its legal counsel.

The firm's services will include legal advice on its relations with
and responsibilities to its creditors and other parties in
connection with its Chapter 11 case.

The firm's attorneys and paralegals will be paid at hourly rates
ranging from $100 to $350 per hour.  

Julianne Frank received a retainer in the amount of $20,000 from
Debtor.  Debtor also paid the firm the sum of $4,400 for
pre-bankruptcy fees.

The firm can be reached through:

     Julianne Frank, Esq.
     Julianne Frank, P.A.
     4495 Military Trl Ste 107
     Jupiter, FL 33458-4818
     Email: julianne@jrfesq.com

                   About Surgical Specialists of
                        St Lucie County LLC

Surgical Specialists of St Lucie County, LLC, owns and operates an
ambulatory surgical center.  Its facility is Medicare Certified and
is licensed by the State of Florida.  Visit
http://bluewatersurgerycenter.com/for more information.

Surgical Specialists of St Lucie County sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No.
20-17017) on June 28, 2020.  At the time of the filing, Debtor had
estimated assets of between $1 million and $10 million and
liabilities of between $500,000 and $1 million.  Judge Mindy A.
Mora oversees the case.  Julianne Frank, P.A. is the Debtor's legal
counsel.


SWOLE SISTERS: Files for Chapter 7 Bankruptcy in Houston
--------------------------------------------------------
The Houston Business Journal reports that Swole Sisters LLC d/b/a
Rush Cycle filed for voluntary Chapter 7 bankruptcy protection May
8, 2020, in the Southern District of Texas. The debtor listed an
address of 1333 Old Spanish Trail, #D, Houston, and is represented
in court by attorney Jessica Lee Hoff.  Swole Sisters LLC, d/b/a
Rush Cycle, listed assets up to $80,015 and debts up to $1,717,660.
The filing's largest creditor was listed as Estates at Kirby with
an outstanding claim of $1,219,955.


TA ESTATE: August 11 Plan Confirmation Hearing Set
--------------------------------------------------
On May 5, 2020, T. A. Estate, Inc., f/k/a Thrush Aircraft, Inc.,
filed with the U.S. Bankruptcy Court for the Middle District of
Georgia a Disclosure Statement.

On June 26, 2020, Judge Austin E. Carter approved the Disclosure
Statement and established the following dates and deadlines:

   * Aug. 3, 2020 is fixed as the last day for voting creditors and
equity security holders to file all ballots accepting or rejecting
the plan.

   * Aug. 3, 2020 is fixed as the last day for filing any objection
to confirmation of the Plan.

   * Aug. 11, 2020 at 10:00 a.m. in Macon, Courtroom B. is the
hearing for the consideration of confirmation of the Plan and any
objections to confirmation of the Plan.

A copy of the order dated June 26, 2020, is available at
https://tinyurl.com/y83ve9q5 from PacerMonitor at no charge.  

                    About Thrush Aircraft

Headquartered in Albany, Ga., Thrush Aircraft, Inc., manufactures a
full range of aerial application aircraft used in agriculture,
forestry, and firefighting roles.  There are currently more than
2,400 Thrush aircraft operating in some 80 countries around the
world.  The company was founded in 2003.

Thrush Aircraft sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. M.D. Ga. Case No. 19-10976) on Sept. 4,
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.


TAILORED BRANDS: Wins Approval of First-Day Motions
---------------------------------------------------
Tailored Brands, Inc. and certain of its subsidiaries announced
that today the Company received approvals from the United States
Bankruptcy Court for the Southern District of Texas  for its First
Day Motions related to its voluntary Chapter 11 petitions filed on
August 2, 2020.

Among the motions approved, the Court granted interim approval of
the Company's motion to access $500 million debtor-in-possession
financing provided by its existing revolving credit facility
lenders and to access the cash collateral of both its existing
revolving credit facility lenders and term loan lenders. The Court
also authorized the Company to continue to pay employees as usual
and provide pre-existing health and welfare benefits, honor
customer gift cards, rental reservations and custom clothing
orders, maintain existing loyalty programs and pay vendor partners
in the ordinary course for all goods and services provided after
the date of the Chapter 11 filing.

"The Court's prompt approval of our First Day Motions is a clear
step forward that enables us to serve our customers, take care of
our team and meet our go-forward financial commitments as we work
to achieve our financial goals," said Tailored Brands President and
CEO Dinesh Lathi. "The approval of these motions is an important
milestone on our path to positioning our brands to better compete
and succeed in today's retail environment and beyond. We appreciate
the continued support of our senior lenders—and all of our
stakeholders—during this process and look forward to moving
swiftly ahead."

                          *    *    *

Tailored Brands subsidiary Men's Wearhouse skipped a $6.1 million
interest payment that was due July 1 on a group of bonds, the
apparel retailer said in a securities filing.  The missed payment
set in motion a 30-day grace period, after which Men's Wearhouse
will go into default. That would also trigger defaults on Tailored
Brand's term loan and asset-based facilities.

                     About Tailored Brands

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

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

On Aug. 2, 2020, Tailored Brands and its subsidiaries sought
Chapter 11 protection (Bankr. S.D. Tex. Lead Case No. 20-33900) on
Aug. 2, 2020.

As of July 4, 2020, Tailored Brands disclosed $2,482,124,043 in
total assets and $2,839,642,691 in total liabilities.

The Hon. Marvin Isgur is the case judge.

The Debtors tapped KIRKLAND & ELLIS LLP as general bankruptcy
counsel; JACKSON WALKER L.L.P., STIKEMAN ELLIOT LLP and MOURANT
OZANNES as co-bankruptcy counsel; PJT PARTNERS LP as financial
advisor; and ALIXPARTNERS, LLP as restructuring advisor.  PRIME
CLERK LLC is the claims agent.  A&G REALTY PARTNERS, LLC, is the
real estate consultant and advisor.


THE RIDE HOUSE: Files for Chapter 7 Bankruptcy
----------------------------------------------
The Dallas Business Journal reports that The Ride House LLC filed
for voluntary Chapter 7 bankruptcy protection June 16, 2020, in the
Northern District of Texas.  The debtor listed an address of 5600
W. Lovers Ln. #100, Dallas, and is represented in court by attorney
Karla M. Balli. The Ride House LLC listed assets up to $162,490 and
debts up to $19,126. The filing's largest creditor was listed as
Brook Patterson/Sam Sano with an outstanding claim of $1496 (each).


TITAN INTERNATIONAL: Posts $5 Million Net Loss in Second Quarter
----------------------------------------------------------------
Titan International, Inc., filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q, disclosing a net loss
applicable to common shareholders of $5.04 million on $286.13
million of net sales for the three months ended June 30, 2020,
compared to a net loss applicable to common shareholders of $7.08
million on $390.59 million of net sales for the three months ended
June 30, 2019.

For the six months ended June 30, 2020, the Company reported a net
loss applicable to common shareholders of $30.53 million on $627.63
million of net sales compared to a net loss applicable to common
shareholders of $5.88 million on $800.97 million of net sales for
the same period during the prior year.

As of June 30, 2020, the Company had $1.03 billion in total assets,
$829.64 million in total liabilities, $25 million in redeemable
noncontrolling interest, and $176.65 million in total equity.

"Our strong focus on protecting the balance sheet, via cash
preservation, accessing additional liquidity and improving our
working capital position are each positive takeaways from the
second quarter," stated Paul Reitz, president and chief executive
officer.  "We were able to increase our cash balance nearly $20
million during the quarter while maintaining a similar net debt
position.  This improved position will aid Titan as we continue to
navigate the effects of the COVID-19 pandemic.  The One Titan
global team remains focused on the safety of our people while
proudly serving our customers, and I want to again thank the team
for their tremendous commitment and diligent efforts throughout
this pandemic.  In early May, during our most recent earnings
announcement, we outlined several key actions we had implemented in
response to the COVID-19 pandemic and in the midst of tremendous
uncertainty.  I am very pleased to report that our actions and
efforts have been effective.

"As expected, Titan had significant disruptions with plant
shutdowns due to dislocation in demand primarily from OEM
customers, along with some government restrictions during April.
During the remainder of the quarter production levels improved;
however, we continued to experience disruptions due to lower demand
from our customers.  Our ITM undercarriage business saw the deepest
impact from lower customer demand across most geographies,
particularly within the construction market.

"We entered the second quarter expecting this period to be the most
challenging of the year and perhaps in Titan's long history. Our
results demonstrate that we've navigated the challenges quite well,
but like many companies we remain in an environment with limited
demand visibility from our customers and also where the information
we are receiving is often conflicting and changing rapidly.  We
continue to see an unusually high level of drop-in orders and we
must remain nimble and flexible to quickly respond to meet those
customer demands.  Typically, we experience a sales slowdown in the
third quarter due to the normal summer maintenance shutdowns and
employee holidays, which we anticipate will be further exacerbated
by the effects of the continuing COVID-19 pandemic.  Therefore,
we'll continue to remain diligently focused on making timely
decisions and taking quick actions to adjust to demand
fluctuations.  Also, the liquidity actions we have taken have
better positioned us to handle this crisis and we remain hopeful
for some potential rebound in demand later in the year leading into
2021."

The Company ended the second quarter of 2020 with total cash and
cash equivalents of $80.2 million, compared to $66.8 million at
Dec. 31, 2019.  Long-term debt at June 30, 2020, was $462.2
million, compared to $443.3 million at Dec. 31, 2019.  Short-term
debt was $40.8 million at June 30, 2020, compared to $61.3 million
at Dec. 31, 2019.  Net debt (total debt less cash and cash
equivalents) was $422.9 million at June 30, 2020, compared to
$437.8 million at Dec. 31, 2019.

Net cash provided by operating activities for the first six months
of 2020 was $5.5 million, compared to net cash used for operations
of $10.0 million for the comparable prior year period.
Capital expenditures were $8.4 million for the first six months of
2020, compared to $16.7 million for the comparable prior year
period.  Capital expenditures during the first six months of 2020
and 2019 represent critical equipment replacement and improvements,
along with new tools, dies and molds related to new product
development.  The overall capital outlay for 2020 is being
suppressed as a direct response to cash preservation activities as
a result of the impact of the COVID-19 pandemic on the business.

                     Liquidity position

David Martin, senior vice president and chief financial officer
commented, "We have previously discussed targeted reductions of
selling, general, administrative, research and development (SGARD)
expenses.  These measures have been further accelerated resulting
in current anticipated full year SGARD in the range of $130 million
to $135 million.  The results in the second quarter reflect the
progress achieved from company-wide initiatives to lower costs with
SGARD expenses totaling under $31 million.  The decrease in SGARD
was the result of reduced information technology spending, lower
payroll and related costs across the board, reduced marketing costs
and reduced travel expenses.

"We are continuing to limit capital spending to include primarily
health, safety, environmental, and other critical items.  As
communicated during our last earnings call, this is in direct
response to cash preservation measures as a result of the impact of
the COVID-19 pandemic on the business.  We were also able to
complete agreements to secure additional credit capacity in Europe
through both private and government backed programs that provide
approximately $20 million of added liquidity.

"During June, we also completed the sale of our remaining ownership
interest in Wheels India Limited, generating more than $24 million
in net proceeds.  We previously announced our expectations for an
additional $20 million to $50 million in non-core asset sales; the
Wheels India sale puts us within that range, with an additional $20
million on track to be completed during the remainder of this year.
The sale of non-core assets, including Wheels India, has resulted
in over $37 million of added liquidity during 2020, with the cash
received used to reduce debt levels."

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

                        https://is.gd/urQKW3

                           About Titan

Titan International, Inc. -- http://www.titan-intl.com-- is a
global manufacturer of off-highway wheels, tires, assemblies, and
undercarriage products.  Headquartered in Quincy, Illinois, the
Company globally produces a broad range of products to meet the
specifications of original equipment manufacturers (OEMs) and
aftermarket customers in the agricultural,
earthmoving/construction, and consumer markets.

Titan reported a net loss of $51.52 million for the year ended Dec.
31, 2019, compared to net income of $13.04 million for the year
ended Dec. 31, 2018.  As of March 31, 2020, the Company had $1.06
billion in total assets, $856.33 million in total liabilities, $25
million in redeemable noncontrolling interest, $178.92 million in
total equity.

                          *    *    *

As reported by the TCR on June 23, 2020, S&P Global Ratings
affirmed its ratings on Titan International Inc., including the
'CCC+' issuer credit rating.  S&P expects weak demand to lower
Titan's profitability, causing negative free operating cash flow
(FOCF) generation in 2020.

As reported by the TCR on May 11, 2020, Moody's Investors Service
downgraded its ratings for Titan International, including the
company's corporate family rating to 'Caa3' from 'Caa1'.  The
downgrades reflect expectations for challenging industry conditions
through 2020 to pressure Titan's earnings and cash flow, resulting
in the company's capital structure remaining unsustainable with
excessive financial leverage above 10x debt/EBITDA likely into 2021
and a weak liquidity profile reliant on external and alternative
funding sources.


TNT ASSEMBLY: Files for Chapter 7 Bankruptcy in Houston
-------------------------------------------------------
The Houston Business Journal reports that TNT Assembly LLC filed
for voluntary Chapter 7 bankruptcy protection April 3, 2020, in the
Southern District of Texas. The debtor listed an address of 7320
Empire Central Drive, Houston, and is represented in court by
attorney Erin E. Jones. TNT Assembly listed assets ranging from $0
to $50,000 and debts ranging from $0 to $50,000.  The filing did
not identify a largest creditor.


TOMMY'S APPLIANCE: Files for Chapter 7 Bankruptcy in Houston
------------------------------------------------------------
The Houston Business Journal reports that Tommy's Appliance
Installations LLC filed for voluntary Chapter 7 bankruptcy
protection May 8, 2020, in the Southern District of Texas. The
debtor listed an address of 13128 Bert Brown Road, Conroe, and is
represented in court by attorney James R. Jones. Tommy's Appliance
listed assets up to $388,326 and debts up to $842,770. The filing's
largest creditor was listed as GMC Financial with an outstanding
claim of $48,650.


TRANSDIGM INC: Moody's Alters Outlook on B1 CFR to Negative
-----------------------------------------------------------
Moody's Investors Service confirmed its ratings for TransDigm Inc.,
including the company's B1 corporate family rating and B1-PD
probability of default rating. Concurrently, Moody's confirmed the
Ba3 ratings for the senior secured bank credit facilities and
senior secured notes and also confirmed the B3 ratings for the
senior subordinated notes. The company's SGL-1 speculative grade
liquidity rating remains unchanged. The ratings outlook is
negative. Its actions conclude the review for downgrade that was
initiated on April 1st, 2020.

RATINGS RATIONALE

The B1 corporate family rating balances TransDigm's aggressive
financial policy defined by its sustained high funded debt and
financial leverage and recurring substantial distributions to
shareholders, against its strong business profile. TransDigm
garners very strong margins from its sole source provider position
across a majority of its products as well as its proprietary
designs reflected in its significant patent portfolio. The ratings
anticipate that the company will temper the amount of distributions
to shareholders, particularly in the near-term, while the
coronavirus continues to weigh on demand from the company's
commercial aerospace customers.

In the aftermath of the coronavirus, Moody's anticipates a
pronounced downturn in commercial aerospace markets that is likely
to be measured in years. Revenue pressures are expected to be
particularly weighted towards commercial aerospace aftermarkets,
which have historically been a key driver of TransDigm's earnings.
This will result in an across-the-board weakening of credit metrics
with diminished free cash flow, albeit still comfortably positive,
and Moody's adjusted debt-to-EBITDA anticipated to be at or above
10x over the next 18 to 24 months.

Moody's recognizes TransDigm's robust business model as evidenced
by industry leading margins that are anticipated to remain near or
above 40% through a combination of cost cutting measures, and a
strong operating strategy involving price increases and the
development of profitable new products. Moody's also considers that
the propriety and sole source nature of the majority of the
company's products will support the continued growth of TransDigm
over the intermediate term. Furthermore, notwithstanding
considerable earnings headwinds, Moody's expects TransDigm to
maintain very good liquidity and sufficient financial flexibility,
with significant cash balances, continued free cash generation and
near full availability under the revolving credit facility.

The coronavirus pandemic, the weakened global economy, lower oil
prices, and asset price declines are sustaining a severe and
extensive credit shock across many sectors, regions and markets.
The combined credit effects of these developments are
unprecedented. Moody's regards the coronavirus pandemic as a social
risk under its ESG framework, given the substantial implications
for public health and safety. Notwithstanding some early signs that
the adverse impact of the coronavirus on TransDigm and the
deterioration in credit quality that it triggered may be relatively
short-lived and subsiding, the company remains vulnerable to shifts
in market demand and changing sentiment in these unprecedented
operating conditions.

The negative outlook reflects the potential for the impacts of the
coronavirus on Transdigm's aerospace customer base to further
constrain demand for its products, which would lead to sustained
pressure on revenues, earnings and cash flow generation with a
corresponding weakening of credit metrics and increasing financial
leverage.

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

Factors that could lead to a downgrade include a deterioration of
TransDigm's liquidity, such as a decline in cash balances over the
near-term, expectations of negative free cash flow, or a greater
reliance on the revolving credit facility. Any dividend
distributions made to shareholders in the near-term or made prior
to a more stable operating environment in commercial aerospace
markets could also lead to a downgrade. A meaningful diminishment
of interest coverage metrics or expectations of EBITDA margins
sustained towards 35% could also result in downward ratings
pressure. An inability to continue to make regular price increases,
expectations of pricing or a weakening of demand in military end
markets could also result in a downgrade.

Factors that could lead to an upgrade include debt-to-EBITDA
sustained below 5x on a Moody's-adjusted basis, coupled with
maintenance of the company's industry leading margins and
continuation of a strong liquidity profile.

The principal methodology used in these ratings was Aerospace and
Defense Methodology published in July 2020.

The following is a summary of Moody's ratings and its rating
actions:

Issuer: TransDigm Inc.

Corporate Family Rating, confirmed at B1

Probability of Default Rating, confirmed at B1-PD

Senior Secured Bank Credit Facility, confirmed Ba3 (LGD3)

Senior Secured Regular Bond/Debenture, confirmed Ba3 (LGD3)

Senior Subordinated Regular Bond/Debenture, confirmed B3 (LGD5)

Outlook, Changed to Negative from Rating Under Review

Issuer: TransDigm Holdings UK plc

Senior Subordinated Regular Bond/Debenture, confirmed B3 (LGD5)

Outlook, Changed to Negative from Rating Under Review

TransDigm Inc., headquartered in Cleveland, Ohio, is a manufacturer
of engineered aerospace components for commercial airlines,
aircraft maintenance facilities, original equipment manufacturers
and various agencies of the US Government. TransDigm Inc. is the
wholly-owned subsidiary of TransDigm Group Incorporated (TDG).
Revenues for the twelve-month period ended June 30, 2020 were $5.5
billion.


TUTOR PERINI: S&P Affirms 'B' ICR; Outlook Positive
---------------------------------------------------
S&P Global Ratings affirmed its 'B' issuer credit rating on Tutor
Perini Corp. The outlook is positive. At the same time, S&P
assigned a 'BB-' issue-level rating to the company's proposed term
loan.

S&P is also lowering its issue-level rating on the company's senior
unsecured notes to 'CCC+' from 'B' due to the additional priority
debt in the pro forma capital structure.

The rating agency assumes 2020 operating performance will
meaningfully improve compared with 2019.  Following a large charge
and losses in its specialty contractors segment in 2019, the
company's operating performance has improved in the first half of
2020 as it executes its backlog of projects. S&P expects Tutor
Perini to generate good free operating cash flow (FOCF) in 2020
compared with previous years, driven by increased revenue and
higher margins from complex, large-scale civil projects in its
backlog. Cash flows should also benefit from the company's improved
working capital management, including collections from customers
and improved billing terms for projects in backlog. In addition,
S&P assumes the impact of the pandemic on the company's operating
performance remains limited, since most current project work has
been deemed essential.

The positive outlook reflects the improving operating performance
and cash flows driven by a strong backlog and no significant
near-term maturities pro forma for the proposed transaction.

"We could raise our rating on Tutor Perini over the next 12 months
if the company does not experience further meaningful project
losses and its operating performance remains good, due to project
execution in its higher-margin civil segment, leading to an
adjusted debt-to-EBITDA metric well below 4x and
FOCF-to-adjusted-debt ratio above 10% on a sustained basis," S&P
said.

"We could revise our outlook to stable on Tutor Perini over the
next 12 months if its operating performance does not continue to
improve and we came to expect that its adjusted debt-to-EBITDA
metric would remain above 4x or if its FOCF-to-adjusted-debt ratio
would fall below 10% on a sustained basis," the rating agency said.


V.S. INVESTMENT: Kranzle Buying Seattle Property for $1 Million
---------------------------------------------------------------
V.S. Investment Assoc., LLC, asks the U.S. Bankruptcy Court for the
Western District of Washington to authorize the sale of the real
property 2469 S College Street, Seattle, Washington to Thomas M.
Kranzle and/or assigns for $1.025 million.

The Debtor listed an ownership interest in the property.  The
Debtor engaged the services of Shawn Perry with Windemere Real
Estate North, Inc. to list the property for sale.  

The subject property is one of a four-unit real estate development
project listed on the Debtor's Amended Schedule A/B at an estimated
$3.6 million.  All four units are encumbered by liens in the
following priority and amounts: (i) BRMK Lending, LLC, recorded
4/21/2016 - $4,236,396; (ii) Paul Greben, recorded 1/16/2020 and
amended 1/21/2020 - $598,500; and (iii) Ecocline Exc. & Utilities,
LLC, recorded 1/30/2020 - $137,205.

The property was listed for sale in the amount of $1.025 million
and a full price offer has been received from the Buyer.  The offer
is $140,000 higher than any previous offer.  The present offer is
the highest and best offer received.  The sale will be free and
clear of all liens.

The Debtor also asks authority to pay the first position Deed of
Trust of BRMK Lending, LLC, successor by merger to PBRELF I, LLC
all remaining proceeds after costs of closing, including real
estate commissions, taxes and other closing costs, as satisfaction

of its lien against the property.   

Finally, it asks waiver of the 14-day period under Bankruptcy Rule
6004(h).

A telephonic hearing on the Motion was set for July 31, 2020 at
9:30 a.m.  The objection deadline was July 24, 2020.

                     About V.S. Investment

V S Investment Assoc LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. W.D. Wash. Case No. 20-11541) on May 29,
2020.  At the time of the filing, the Debtor was estimated to have
assets of between $1 million and $10 million and liabilities of
the
same range.  Judge Christopher M. Alston oversees the case.  The
Debtor has tapped Bountiful Law, PLLC, as its legal counsel.



VALLEY ECONOMIC: Pestamos Buying CALP Loan Portfolio for $121K
--------------------------------------------------------------
David K. Gottlieb, Trustee of the liquidating trust created through
confirmation of the chapter 11 plan of debtor Valley Economic
Development Center, Inc. ("VEDC"), asks the U.S. Bankruptcy Court
for the Central District of California to authorize the sale by
VEDC Trust and its wholly owned affiliated entities, Chicagoland
Business Opportunity Fund, LLC ("CBOF") and Tri State Business
Opportunity Fund, LLC ("TBOF"), of their aggregate loan portfolio
for loans in the Small Business Administration's Community
Advantage Loan Program ("CALP Loan Portfolio"), to Prestamos CDFI,
LLC for $120,741, free and clear of all liens, claims and
interests, pursuant to their Asset Purchase Agreement.

On the Petition Date, the Debtor had a total loan portfolio of over
300 individual loans ("Borrower Loans") aggregating approximately
$30 million where the Debtor was the lender, and a large loan
portfolio of debt ("Debt Portfolio") where the Debtor was the
borrower (with total loans outstanding of approximately the same
principal amount) under approximately 37 loans.  The Borrower Loans
are loans that were made to business owners who would not qualify
for traditional business loans and were a greater collection risk
for traditional lenders.

Since the Petition Date, the Debtor with its professionals analyzed
the complete Debtor Portfolio and determined whether the various
loans were secured, unsecured or subordinated unsecured/equity
equivalent capital.  The Debt Portfolio, to the extent secured, was
secured by the Borrower Loans and each Debt Portfolio loan was
secured only by the Borrower loans funded by the particular Debt
Portfolio loan.

To the extent a Debt Portfolio lender was determined to be secured,
the Debtor with the help of its professionals, negotiated with and
reached a settlement with the Debt Portfolio lender, which often
resulted in the Debtor transferring to the Debt Portfolio lender
all of the Borrower Loans that secured that lender's Debt Portfolio
loans.  Some Debt Portfolio lenders elected to relinquish all
interest in their Borrower Loans collateral so those Borrower Loans
became unencumbered property of the estate.

In addition, many Debt Portfolio lenders provided funding to the
Debtor on an unsecured or subordinated unsecured, equity equivalent
capital, basis.  The Borrower Loans made with funds loaned by these
unsecured Debt Portfolio lenders also became unencumbered property
of the estate.  

Some of the Borrower Loans were made under Community Advantage Loan
Program authorizations issued to VEDC in connection with the SBA's
CALP Loans.  The SBA provides guarantees for portions of loans made
by authorized CALP lenders.  VEDC was an authorized CALP lender,
but CBOF and TBOF were not authorized CALP lenders even though CBOF
and TBOF made CALP Loans.  The guaranteed portions of some of the
Borrower Loans in the CALP were sold on SBA's secondary market to
investors ("CA Secondary Market Loans").  SBA asserts that some of
these sales were without authorization because the loans were not
made by VEDC.  SBA unconditionally guaranteed the payment of the
guaranteed portions to the secondary market investors. SBA has
asserted a claim against VEDC and the VEDC Trust due to these
alleged unauthorized sales and other asserted deficiencies.  

By the Motion, the Trustee of the VEDC Trust asks to sell the VEDC
Trust's, CBOF's and TBOF's aggregate unencumbered CALP Loan
Portfolio to Prestamos.  Prestamos has agreed to purchase the CALP
Loan Portfolio for 8.9% of the aggregate loan balances as of May
31, 2020 for a total of $120,741.  The Borrower Loans are at a much
higher collection risk than borrowers of traditional loans, and
given the current economic environment with the COVID-19 pandemic
the collection risk has been exacerbated.  In addition, loans in
the CALP are often loans that are often at an even higher
collection risk than the non-CALP Borrower Loans, which risk is
mitigated somewhat by the SBA loan guarantee.

As set forth in the Purchase Agreement, due to defaults and
material deficiencies asserted by the SBA, Prestamos will only
receive the benefit of the SBA loan guarantee on nine Borrower
Loans out of the total CALP Loan Portfolio (other than the CA
Secondary Market Loans).  These factors explain why the Prestamos
purchase price is significantly less than the aggregate loan
balance of the CALP Loan Portfolio.

The benefit to the VEDC Trust and the estate, however, is not
solely the $120,741 purchase price to be paid by Prestamos.  In
addition, the SBA has agreed to waive all of its claims asserted
against VEDC and the VEDC Trust in connection with the CALP Loan
Portfolio ("SBA CALP Claims") if the VEDC Trust sells the CALP Loan
Portfolio to Prestamos, except for identified miscellaneous claims
totaling $32,996, and any similar miscellaneous claims that may
accrue. Based on the proof of claim filed by the SBA in the VEDC
case, the SBA will be waiving approximately $4.4 million in claims
asserted against VEDC and the VEDC Trust.  The claim waiver is
significant and will meaningfully increase the recovery for other
general unsecured creditors of the estate.

VEDC engaged Keen Summit by order of the Court to act as the
Debtor's broker for the sale of the CALP Loan Portfolio.  Keen
Summit has engaged in an extensive marketing effort.  The VEDC
Trust is very satisfied with the offer proposed by Prestamos, and
Prestamos' willingness to close the sale of the CALP Loan Portfolio
rapidly.  Accordingly, the VEDC Trust is asking approval of the
sale of the CALP Loan Portfolio to Prestamos without any further
auction sale process.

The VEDC Trust is also asking approval to pay Keen Summit its
commission of $55,000 through the Motion.  The Keen Summit
employment application and final fee application, which have been
approved by the Court, authorize Keen Summit to obtain approval and
payment of its commission through the order granting the motion
approving the sale of the CALP Loan Portfolio.

Finally, the VEDC Trust asks that the Court waives the 14-day stay
period set forth in Bankruptcy Rule 6004(h).

A hearing on the Motion was set for July 30, 2020 at 11:30 a.m.

              About Valley Economic Development Center

Valley Economic Development Center, Inc., a certified Community
Development Financial Institution, is a California tax-exempt
non-profit corporation whose mission is to provide financing
assistance, management consulting, and training to entrepreneurs
and small business owners in and around Los Angeles County and
throughout California. Those services include business training for
start-up and fledgling small businesses as well as services to more
established existing small businesses.

Valley Economic Development Center sought protection under Chapter
11 of the Bankruptcy Code (Bankr. C.D. Cal. Case No. 19-11629) on
July 2, 2019. At the time of the filing, the Debtor was estimated
to have assets between $10 million and $50 million and liabilities
of the same range.

The case has been assigned to Judge Deborah J. Saltzman.

Levene, Neale, Bender, Yoo & Brill L.L.P. is the Debtor's
bankruptcy counsel.  David K. Gottlieb serves as the Debtor's Chief
Restructuring Officer.


VALLEY ECONOMIC: Pestamos Buying Loan Portfolio for $970K
---------------------------------------------------------
David K. Gottlieb, Trustee of the liquidating trust created through
confirmation of the chapter 11 plan of Debtor Valley Economic
Development Center, Inc. ("VEDC"), asks the U.S. Bankruptcy Court
for the Central District of California to authorize the sale by
VEDC Trust and its wholly owned affiliated entities, Chicagoland
Business Opportunity Fund, LLC ("CBOF") and Tri State Business
Opportunity Fund, LLC ("TBOF"), of their aggregate loan portfolio
for loans not in the Small Business Administration's Community
Advantage Loan Program ("Loan Portfolio"), to Prestamos CDFI, LLC
for $969,512, free and clear of all liens, claims and interests,
pursuant to their Asset Purchase Agreement.

On the Petition Date, the Debtor had a total loan portfolio of over
300 individual loans ("Borrower Loans") aggregating approximately
$30 million where the Debtor was the lender, and a large loan
portfolio of debt ("Debt Portfolio") where the Debtor was the
borrower (with total loans outstanding of approximately the same
principal amount) under approximately 37 loans.  The Borrower Loans
are loans that were made to business owners who would not qualify
for traditional business loans and were a greater collection risk
for traditional lenders.

Since the Petition Date, the Debtor with its professionals analyzed
the complete Debtor Portfolio and determined whether the various
loans were secured, unsecured or subordinated unsecured/equity
equivalent capital.  The Debt Portfolio, to the extent secured, was
secured by the Borrower Loans and each Debt Portfolio loan was
secured only by the Borrower loans funded by the particular Debt
Portfolio loan.

To the extent a Debt Portfolio lender was determined to be secured,
the Debtor with the help of its professionals, negotiated with and
reached a settlement with the Debt Portfolio lender, which often
resulted in the Debtor transferring to the Debt Portfolio lender
all of the Borrower Loans that secured that lender's Debt Portfolio
loans.  Some Debt Portfolio lenders elected to relinquish all
interest in their Borrower Loans collateral so those Borrower Loans
became unencumbered property of the estate.

In addition, many Debt Portfolio lenders provided funding to the
Debtor on an unsecured or subordinated unsecured, equity equivalent
capital, basis.  The Borrower Loans made with funds loaned by these
unsecured Debt Portfolio lenders also became unencumbered property
of the estate.  

By the Motion, the Trustee of the VEDC Trust, proposes to sell the
VEDC Trust's, CBOF's and TBOF'S ("Sellers") aggregate unencumbered
Loan Portfolio to Prestamos.  The unencumbered Loan Portfolio has
been divided into three groups as Prestamos made a bid on an
initial group of Borrower Loans before U.S. Bank and City National
Bank relinquished their interest in their loan collateral to the
estate.

Prestamos has agreed to purchase the Loan Portfolio for a
percentage of the aggregate loan balances of each of the loan
groups as of May 31, 2020 for a total of $969,512.  The Borrower
Loans are at a much higher collection risk than borrowers of
traditional loans, and given the current economic environment with
the COVID-19 pandemic the collection risk has been exacerbated,
which is the reason why the Prestamos bid is significantly less
than the aggregate loan balance of the Loan Portfolio.

VEDC engaged Keen Summit by order of the Court to act as the
Debtor's broker for the sale of the Loan Portfolio.  Keen Summit
has engaged in an extensive marketing effort.  Given this marketing
effort and the current economic environment, couple with the
exhaustive due diligence process conducted by Prestamos which due
diligence would very likely be required for any prospective
overbidder, the VEDC Trust, upon advice of its professionals, does
not believe that any further auction process will result in
attracting additional buyers willing to pay a higher price from the
Loan Portfolio than has been offered by Prestamos.  The VEDC Trust
is very satisfied with the offer proposed by Prestamos, and
Prestamos' willingness to close the sale of the Loan Portfolio
rapidly. Accordingly, the VEDC Trust is asking approval of the sale
of the Loan Portfolio to Prestamos without a further auction sale
process.

The VEDC Trust is also asking approval to pay Keen Summit its
commission of $55,000 through the Motion.  The Keen Summit
employment application and final fee application, which have been
approved by the Court, authorize Keen Summit to obtain approval and
payment of its commission through the order granting the motion
approving the sale of the Loan Portfolio.

Finally, the VEDC Trust asks that the Court waives the 14-day stay
period set forth in Bankruptcy Rule 6004(h).

A hearing on the Motion was set for July 30, 2020 at 11:30 a.m.

              About Valley Economic Development Center

Valley Economic Development Center, Inc., a certified Community
Development Financial Institution, is a California tax-exempt
non-profit corporation whose mission is to provide financing
assistance, management consulting, and training to entrepreneurs
and small business owners in and around Los Angeles County and
throughout California. Those services include business training for
start-up and fledgling small businesses as well as services to more
established existing small businesses.

Valley Economic Development Center sought protection under Chapter
11 of the Bankruptcy Code (Bankr. C.D. Cal. Case No. 19-11629) on
July 2, 2019. At the time of the filing, the Debtor was estimated
to have assets between $10 million and $50 million and liabilities
of the same range.

The case has been assigned to Judge Deborah J. Saltzman.

Levene, Neale, Bender, Yoo & Brill L.L.P. is the Debtor's
bankruptcy counsel.  David K. Gottlieb serves as the Debtor's Chief
Restructuring Officer.


VENTURA CONTRACTING: Files for Chapter 7 Bankruptcy
---------------------------------------------------
The Washington Business Journal reports that Ventura Contracting
Group LLC filed for voluntary Chapter 7 bankruptcy protection June
18 in the Eastern District of Virginia.  Represented in court by
attorney Anthony A. Fasullo, the debtor listed an address of 6812
Eighteenth Century Court in Springfield.  Ventura Contracting
listed assets up to $2,483 and debts up to $14,073.  The filing's
largest creditor was listed as Wells Fargo with an outstanding
claim of $7,117.


VISION GAS: Files for Chapter 7 Bankruptcy in Houston
-----------------------------------------------------
The Houston Business Journal reports that Vision Gas Ltd. filed for
voluntary Chapter 7 bankruptcy protection April 17, 2020, in the
Southern District of Texas. The debtor listed an address of 520
Post Oak Blvd., #200, Houston, and is represented in court by
attorney Brian A. Kilmer. Vision Gas Ltd. listed assets ranging
from $0 to $5,000 and debts ranging from $1 million to $10 million.
The filing did not identify a largest creditor.


VISION OPERATING: Files for Chapter 7 Bankruptcy in Houston
-----------------------------------------------------------
The Houston Business Journal reports that Vision Operating Co. LLC
filed for voluntary Chapter 7 bankruptcy protection April 17, 2020,
in the Southern District of Texas. The debtor listed an address of
520 Post Oak Blvd., #520, Houston, and is represented in court by
attorney Brian A. Kilmer. Vision Operating Co. LLC listed assets
ranging from $0 to $50,000 and debts ranging from $1 million to $10
million.  The filing did not identify a largest creditor.


VISION RESOURCES: Files for Chapter 7 Bankruptcy in Houston
-----------------------------------------------------------
The Houston Business Journal reports that Vision Resources LLC
filed for voluntary Chapter 7 bankruptcy protection April 17, 2020,
in the Southern District of Texas. The debtor listed an address of
520 Post Oak Blvd., #200, Houston, and is represented in court by
attorney Brian A. Kilmer.  Vision Resources listed assets ranging
from $0 to $50,000 and debts ranging from $1 million to $10
million.  The filing did not identify a largest creditor.


W&T OFFSHORE: Incurs $5.90 Million Net Loss in Second Quarter
-------------------------------------------------------------
W&T Offshore, Inc., filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q, disclosing a net loss
of $5.90 million on $55.24 million of total revenues for the three
months ended June 30, 2020, compared to net income of $36.39
million on $134.70 million of total revenues for the three months
ended June 30, 2019.

For the six months ended June 30, 2020, the Company reported net
income of $60.07 million on $179.37 million of total revenues
compared to a net loss of $11.37 million on $250.78 million of
total revenues for the same period in 2019.

As of June 30, 2020, the Company had $942.75 million in total
assets, $111.45 million in total current liabilities, $624.22
million in long term debt, $362.30 million in asset retirement
obligations, $28.99 million in other liabilities, and a total
shareholders' deficit of $187.22 million.

Tracy W. Krohn, W&T's Chairman and chief executive officer, stated,
"The continued global COVID-19 pandemic coupled with supply and
demand imbalances created an environment of uncertainty across the
oil sector and temporarily reduced oil prices to unprecedented low
levels in the second quarter of 2020. Despite numerous downturns in
the past, we have succeeded for nearly 40 years in this cyclical
business by focusing on cash flow and operating efficiently.  We
quickly responded to the most recent commodity price decline and
stopped all drilling and completion activity, shut-in oil-weighted
operated properties and experienced production curtailments from
non-operated oil and gas properties, and reduced LOE per Boe over
25% without compromising safety or our operational capabilities,
and lowered our G&A expense.  In addition, we completed our
semi-annual borrowing base redetermination, which resulted in a
modest reduction to the revolving credit facility with more
manageable covenants in light of changes in oil prices and
continues to provide us with liquidity and financial flexibility in
the current environment. We also capitalized on the opportunity to
retire $72.5 million of senior notes for a total cost of $23.9
million, thereby saving over $7 million in annualized interest and
preserving long-term capital."

"After successfully addressing the unprecedented sharp decline in
oil prices in March and April, we are encouraged by the recent
stabilization in crude oil prices and the outlook for natural gas
prices.  We remain confident in our strong asset base and I am
proud of how we continue to operate in this environment, which is a
testament to our operations team.  This was clearly evident in our
mid-year 2020 reserve report that included 17.6 MMBoe of positive
revisions due to field performance which was more than double our
year-to-date production of 8.7 MMBoe."

"We have completed accretive acquisitions over the past year and we
will continue to evaluate opportunities presented by the current
market backdrop that meet all the criteria we have outlined in the
past which target producing properties that generate free cash flow
with upside potential.  We believe that we are well positioned to
deliver near-term and long-term value creation at W&T," concluded
Mr. Krohn.

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

                       https://is.gd/EQpR9O

                        About W&T Offshore

W&T Offshore, Inc. -- http://www.wtoffshore.com/-- is an
independent oil and natural gas producer with operations offshore
in the Gulf of Mexico and has grown through acquisitions,
exploration and development.  The Company currently has working
interests in 51 producing fields in federal and state waters and
has under lease approximately 815,000 gross acres, including
approximately 595,000 gross acres on the Gulf of Mexico Shelf and
approximately 220,000 gross acres in the Gulf of Mexico deepwater.
A majority of the Company's daily production is derived from wells
it operates.

                          *    *     *

As reported by the TCR on July 23, 2020, S&P Global Ratings raised
the issuer credit rating on U.S.-based exploration and production
(E&P) company W&T Offshore Inc. to 'CCC+' from 'SD' (selective
default).  "We expect W&T Offshore's financial measures to improve,
but financial measures will remain elevated and susceptible to a
fall in crude oil prices," S&P said.

In April 2020, Moody's Investors Service downgraded W&T Offshore,
Inc.'s Corporate Family Rating to Caa2 from B3.  "The downgrade of
W&T's ratings reflects the negative impact from the weak oil and
gas price environment on credit quality, increased refinancing
risks as debt maturities approach and a high cost of capital which
elevates risks of restructuring and default," said Jonathan Teitel,
Moody's Analyst.


WALKER INVESTMENT: Seeks Court Approval to Hire Real Estate Agents
------------------------------------------------------------------
Walker Investment Properties, LLC seeks approval from the U.S.
Bankruptcy Court for the Southern District of Mississippi to employ
Mike Peters and Peters Real Estate as real estate agents.

The Debtor requires the assistance of the real estate company to
market the real property located at 2648 Ridgewood Road, Jackson,
Mississippi 39211 for payment of secured claims with any remaining
equity to be available for distribution in this case.

The Debtor further requests that the Court approve and authorize it
to enter into an exclusive authorization and right to sell listing
agreement with Peters Real Estate.

The firm can be reached through:
        
     Mike Peters
     PETERS REAL ESTATE

                         About Walker Investment Properties

Walker Investment Properties, LLC is a privately held real estate
investment company in Madison, Mississippi. The company sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D.
Miss. Case No. 19-04313) on Dec. 4, 2019. The petition was signed
by Andrew C. Walker, manager/member. At the time of filing, the
Debtor was estimated to have assets under $50,000 and liabilities
under $10 million. The case is assigned to Judge Neil P. Olack. The
Debtor tapped R. Michael Bolen, Esq. at Hood & Bolen, PLLC as
counsel and Mike Peters and Peters Real Estate as real estate
agents.


[*] Landlord's Ability to Draw on L/C May Turn on Notice
---------------------------------------------------------
Brian Guiney of Patterson Belknap Webb & Tyler LLP wrote an article
on JD Supra titled "Tenants in Bankruptcy: Landlord's Ability to
Draw on Letter of Credit May Turn on Notice Requirements in
Lease."

The economic fallout from the COVID-19 pandemic has been
particularly acute for commercial landlords. As retail and other
tenants fall further behind on rent and other obligations, lessors
are finding themselves drawn into more and more Chapter 11
bankruptcy cases. Yet, while it may not always feel that way to
them, landlords actually have it better than most creditors in
bankruptcy. Section 365 offers an array of protections to lessors
of non-residential real property that other stakeholders do not
enjoy, and most commercial leases are backed by some form of cash
or other security deposit.

One common form of security is a letter of credit, which is
particularly attractive in a bankruptcy case because it is not
subject to the automatic stay. But for a handful of outlier
decisions that have been roundly criticized (or worse),[1] courts
are nearly uniform in holding that the automatic stay does not
preclude a draw on a letter of credit issued by bank to a landlord
despite the tenant's bankruptcy.[2]  The sound rationale for this
principle has been explained this way:

"Under the 'independence principle' that applies generally to
letters of credit, an issuer's obligation to the letter of credit
beneficiary is independent from any obligation between the
beneficiary and the issuer's customer. The issuer must honor the
letter of credit upon a proper documentary presentation by the
beneficiary. The issuer's obligation to pay under the letter of
credit is not affected by any disputes between the beneficiary and
the customer. As the letter of credit evidences the obligation of
the issuer, the letter of credit and its proceeds are not
considered as part of the bankruptcy estate and disbursement is not
subject to the automatic stay."[3]

Notwithstanding the well-settled right of landlords to draw on a
pre-petition letter of credit after a tenant bankruptcy, there is
an important caveat. Careful lawyers regularly counsel landlords
against agreeing to provisions in a lease that require notice of
default to the tenant before drawing on a letter of credit, and
advise clients to tread carefully in the case of a debtor-tenant
that is entitled to such notice. This caution is grounded in a
concern that even if the draw itself will not violate the automatic
stay, a notice to the debtor might. But is such caution really
warranted, or does it create needless obstacles to the exercise of
the landlord’s remedies?  The rationale underpinning the
landlord’s right to draw on the letter of credit – that doing
so does not implicate property of the estate – should apply with
equal force to a notice given to the debtor that likewise does not
interfere with property of the estate.  Right?

Maybe not. Unfortunately, the scant case law addressing this
question does not provide landlords with sufficient comfort to give
notice of default to a debtor in bankruptcy – even if such notice
is explicitly given for informational purposes only and expressly
does not interfere with any property of the estate – without
undertaking the risk that such notice will subsequently be ruled to
violate the automatic stay.[4] Accordingly, until more courts weigh
in on the question, or until this blogger is elevated to the bench,
careful landlords who haven’t dealt with the issue in the lease
in the first place will negotiate stay relief with the debtor, or
request it from the Bankruptcy Court, in cases where a draw on a
letter of credit is predicated on notice of default, termination or
some other exercise of remedies against the debtor.

Of course, every lease is different, and the precise requirements
for a draw may dictate whether compliance with the predicates for a
draw will rise to the level of an infraction of the automatic stay.
But our survey of the case law does not permit us to conclude that
even the most basic notice of a default, and nothing more, will
necessarily escape scrutiny for a stay violation. On the other
hand, we are not aware of a single case that has held that a purely
informational notice to the debtor notifying it of a draw on the
letter of credit is a stay violation. Careful drafting at the
outset of the leasing relationship may make all the difference.
________________________________________
[1] Compare, In re Twist Cap, Inc., 1 B.R. 284 (Bankr. M.D. Fla.
1978) (Enjoining post-petition draw under pre-petition letter of
credit), with In re Compton Corp., 831 F.2d 586, 590 (5th Cir.
1987) (TwistCap “has been roundly criticized and otherwise
ignored by courts and commentators alike”).
[2] E.g., In re Farm Fresh Supermarkets of Md., Inc., 257 B.R. 770,
772 (Bankr. D. Md. 2001).
[3] In re Circuit City Stores, Inc., 2016 Bankr. LEXIS 1896, at
*201 (Bankr. E.D. Va. 2016).
[4] See In re Bender Shipbuilding & Repair Co., 2010 U.S. Dist.
LEXIS 18544, at *12-13 (S.D. Ala. Mar. 2, 2010) (Holding that draw
on a letter of credit was proper and explaining that, "[i]f
[creditor] gave the notice to [debtor], it can certify that it did
so. If the notice violated [debtor’s] stay, that's a separate
issue between [debtor] and [creditor], not an issue for [creditor]
and [the bank]. [Creditor] will merely have to suffer the
consequences, if any, if [debtor] seeks relief for a stay
violation.  I don't need to mix stay litigation with this letter of
credit litigation.").  Cf. In re Factory Sales & Eng'g, Inc., 2017
Bankr. LEXIS 3538, at *17 (Bankr. E.D. La. Oct. 12, 2017) (Creditor
enjoined from drawing on letter of credit where contract required
creditor to terminate before drawing and such termination was
barred by the automatic stay).



[*] Stores That Are Bankrupt But Still Operational
--------------------------------------------------
Sissi Cao, writing for the Observer, while the months-long lockdown
has crushed more than a dozen department stores and apparel brands
into either bankruptcy or severe downsizing, most of them will
continue normal storefront operation until they run out of cash.
That means you can still shop at those stores as long as they
exist—and have reopened.

*Victoria's Secret
Victoria's Secret has been in the process of permanently closing
250 locations in North America since its private equity buyout deal
fell apart in May. Its parent company, L Brands, will continue
operating the remaining 600 stores at least throughout 2020. Those
locations, along with L Brands-owned Bath & Body Works stores, are
in phased reopening in accordance with local rules.

* J.Crew
The debt-ridden apparel chain filed for bankruptcy in early May.
But fans of its preppy clothes and accessories will still be able
to shop as usual for the foreseeable future. As of this week,
J.Crew has reopened 60 percent of its 500 stores.

The retailer may eventually have to permanently close dozens of
stores as a result of Chapter 11 restructuring. The company is
currently negotiating store lease terms with landlords.

* Aldo Group
The Canadian shoe seller went bankrupt in May. But its ownership
reorganization looks hopeful so far. The company's 1,000 stores in
the U.S. and Canada are in the process of reopening. You can check
the status of your nearby Aldo stores on the company website.

* JCPenney
On the more embattled department store side, things aren't looking
that bad, either.
JCPenney, which filed for bankruptcy in May, has reopened the bulk
of its stores. And they are actually generating healthy revenue
streams that could even help the struggling retailer negotiate a
good deal with lenders.

Attorneys representing JCPenney on Wednesday told a Texas
bankruptcy judge that revenues from reopened locations had
surpassed initial projections ahead of an upcoming Chapter 11
deadline. JCPenney has until July 8 to submit a restructuring plan
to the court. Its first-lien lenders will then have a week to
decide whether they approve the plan.

* Macy's
Although Macy’s has suffered record losses and slashed thousands
of jobs in the past three months, the majority of its 775 stores
are open by now, including those located inside malls that are
still closed.

The remaining stores will likely reopen more slowly, depending on
the direction of the pandemic. "While we do not expect another
national shutdown, we do anticipate a regional impact as consumers
are encouraged to stay home," Macy's CEO Jeff Gennette told
investors on Wednesday during the company’s quarterly earnings
call.

* Neiman Marcus
Neiman Marcus, which also filed for Chapter 11 in early May, is on
track to proceed with bankruptcy reorganization through fall this
year, meaning store operation will remain stable until then.

Last month, the department store chain obtained a judge approval to
access nearly $700 million of new financing, which CEO Geoffroy van
Raemdonck said will provide "ample liquidity to ensure business
continuity as we gradually reopen our stores, invest in fall
inventory and fund the expansion of our digital offerings."

* Sears and Kmart
Those who followed Sears' epic downfall in 2018 might think that
the brand is long gone. It still exists, actually, although on a
much smaller scale. Since emerging from Chapter 11 in early 2019,
Sears had shrunk the number of its Sears and Kmart stores from more
than 400 to just 200. About half of them have reopened.

Surprisingly, a few dozen Kmart stores never closed during the
lockdown because they sell some groceries and are thus deemed as
essential businesses throughout the pandemic.



[^] Large Companies with Insolvent Balance Sheet
------------------------------------------------

                                                Total
                                               Share-      Total
                                    Total    Holders'    Working
                                   Assets      Equity    Capital
  Company         Ticker             ($MM)       ($MM)      ($MM)
  -------         ------           ------    --------    -------
ABSOLUTE SOFTWRE  ABT CN            108.7       (44.7)     (26.3)
ABSOLUTE SOFTWRE  OU1 GR            108.7       (44.7)     (26.3)
ABSOLUTE SOFTWRE  ALSWF US          108.7       (44.7)     (26.3)
ABSOLUTE SOFTWRE  ABT2EUR EU        108.7       (44.7)     (26.3)
ACCELERATE DIAGN  1A8 GR            120.0       (22.9)     100.1
ACCELERATE DIAGN  AXDX US           120.0       (22.9)     100.1
ACCELERATE DIAGN  1A8 SW            120.0       (22.9)     100.1
ACCELERATE DIAGN  AXDX* MM          120.0       (22.9)     100.1
ACCOLADE INC      ACCD US            73.2       (23.8)     (21.0)
ADAPTHEALTH CORP  AHCO US           739.3        (6.8)       6.5
AGENUS INC        AJ81 GR           180.1      (175.6)     (24.6)
AGENUS INC        AGEN US           180.1      (175.6)     (24.6)
AGENUS INC        AJ81 GZ           180.1      (175.6)     (24.6)
AGENUS INC        AJ81 SW           180.1      (175.6)     (24.6)
AGENUS INC        AJ81 TH           180.1      (175.6)     (24.6)
AGENUS INC        AGENEUR EU        180.1      (175.6)     (24.6)
AMC ENTERTAINMEN  AMC US         11,271.6    (1,575.4)  (1,031.5)
AMC ENTERTAINMEN  AMC* MM        11,271.6    (1,575.4)  (1,031.5)
AMC ENTERTAINMEN  AH9 GR         11,271.6    (1,575.4)  (1,031.5)
AMC ENTERTAINMEN  AMC4EUR EU     11,271.6    (1,575.4)  (1,031.5)
AMC ENTERTAINMEN  AH9 QT         11,271.6    (1,575.4)  (1,031.5)
AMC ENTERTAINMEN  AH9 TH         11,271.6    (1,575.4)  (1,031.5)
AMER RESTAUR-LP   ICTPU US           33.5        (4.0)      (6.2)
AMERICAN AIR-BDR  AALL34 BZ      64,544.0    (3,169.0)  (4,211.0)
AMERICAN AIRLINE  A1G GR         64,544.0    (3,169.0)  (4,211.0)
AMERICAN AIRLINE  AAL* MM        64,544.0    (3,169.0)  (4,211.0)
AMERICAN AIRLINE  AAL US         64,544.0    (3,169.0)  (4,211.0)
AMERICAN AIRLINE  A1G TH         64,544.0    (3,169.0)  (4,211.0)
AMERICAN AIRLINE  AAL11EUR EU    64,544.0    (3,169.0)  (4,211.0)
AMERICAN AIRLINE  AAL AV         64,544.0    (3,169.0)  (4,211.0)
AMERICAN AIRLINE  AAL TE         64,544.0    (3,169.0)  (4,211.0)
AMERICAN AIRLINE  A1G SW         64,544.0    (3,169.0)  (4,211.0)
AMERICAN AIRLINE  A1G GZ         64,544.0    (3,169.0)  (4,211.0)
AMERICAN AIRLINE  A1G QT         64,544.0    (3,169.0)  (4,211.0)
AMERICAN VIRTUAL  AVCT US             2.0       (14.7)     (14.7)
AMYRIS INC        AMRS US           167.3      (176.1)    (107.3)
AMYRIS INC        3A01 GR           167.3      (176.1)    (107.3)
AMYRIS INC        3A01 TH           167.3      (176.1)    (107.3)
AMYRIS INC        AMRSEUR EU        167.3      (176.1)    (107.3)
AMYRIS INC        3A01 QT           167.3      (176.1)    (107.3)
APACHE CORP       APA* MM        12,999.0       (44.0)     (52.0)
APACHE CORP       APA TH         12,999.0       (44.0)     (52.0)
APACHE CORP       APA US         12,999.0       (44.0)     (52.0)
APACHE CORP       APA GR         12,999.0       (44.0)     (52.0)
APACHE CORP       APA GZ         12,999.0       (44.0)     (52.0)
APACHE CORP       APA1 SW        12,999.0       (44.0)     (52.0)
APACHE CORP       APAEUR EU      12,999.0       (44.0)     (52.0)
APACHE CORP       APA QT         12,999.0       (44.0)     (52.0)
APACHE CORP- BDR  A1PA34 BZ      12,999.0       (44.0)     (52.0)
AQUESTIVE THERAP  AQST US            63.5       (21.4)      29.0
ARYA SCIENCES AC  ARYBU US            0.2        (0.0)      (0.2)
ARYA SCIENCES-A   ARYB US             0.2        (0.0)      (0.2)
AUTODESK INC      AUD GR          5,543.9      (139.1)    (554.0)
AUTODESK INC      ADSK US         5,543.9      (139.1)    (554.0)
AUTODESK INC      AUD TH          5,543.9      (139.1)    (554.0)
AUTODESK INC      ADSK AV         5,543.9      (139.1)    (554.0)
AUTODESK INC      ADSKEUR EU      5,543.9      (139.1)    (554.0)
AUTODESK INC      ADSK TE         5,543.9      (139.1)    (554.0)
AUTODESK INC      AUD GZ          5,543.9      (139.1)    (554.0)
AUTODESK INC      ADSK* MM        5,543.9      (139.1)    (554.0)
AUTODESK INC      AUD QT          5,543.9      (139.1)    (554.0)
AUTOZONE INC      AZO US         12,902.1    (1,632.7)    (371.1)
AUTOZONE INC      AZ5 GR         12,902.1    (1,632.7)    (371.1)
AUTOZONE INC      AZ5 TH         12,902.1    (1,632.7)    (371.1)
AUTOZONE INC      AZ5 GZ         12,902.1    (1,632.7)    (371.1)
AUTOZONE INC      AZO AV         12,902.1    (1,632.7)    (371.1)
AUTOZONE INC      AZ5 TE         12,902.1    (1,632.7)    (371.1)
AUTOZONE INC      AZO* MM        12,902.1    (1,632.7)    (371.1)
AUTOZONE INC      AZOEUR EU      12,902.1    (1,632.7)    (371.1)
AUTOZONE INC      AZ5 QT         12,902.1    (1,632.7)    (371.1)
AVID TECHNOLOGY   AVID US           265.4      (156.5)      24.4
AVID TECHNOLOGY   AVD GR            265.4      (156.5)      24.4
AVIS BUD-CEDEAR   CAR AR         21,690.0      (153.0)     137.0
AVIS BUDGET GROU  CAR US         21,690.0      (153.0)     137.0
AVIS BUDGET GROU  CUCA GR        21,690.0      (153.0)     137.0
AVIS BUDGET GROU  CUCA SW        21,690.0      (153.0)     137.0
AVIS BUDGET GROU  CUCA TH        21,690.0      (153.0)     137.0
AVIS BUDGET GROU  CAR* MM        21,690.0      (153.0)     137.0
AVIS BUDGET GROU  CAR2EUR EU     21,690.0      (153.0)     137.0
AVIS BUDGET GROU  CUCA QT        21,690.0      (153.0)     137.0
B RILEY PRINCIPA  BMRG/U US           0.1        (0.0)      (0.1)
B. RILEY PRINC-A  BMRG US             0.1        (0.0)      (0.1)
BENEFITFOCUS INC  BNFT US           313.6       (42.5)     102.0
BENEFITFOCUS INC  BTF GR            313.6       (42.5)     102.0
BENEFITFOCUS INC  BNFTEUR EU        313.6       (42.5)     102.0
BIGCOMMERCE-1     BIGC US            82.0       (36.2)      25.5
BIGCOMMERCE-1     BI1 GR             82.0       (36.2)      25.5
BLOOM ENERGY C-A  1ZB GZ          1,277.5      (250.5)     137.1
BLOOM ENERGY C-A  BE US           1,277.5      (250.5)     137.1
BLOOM ENERGY C-A  1ZB GR          1,277.5      (250.5)     137.1
BLOOM ENERGY C-A  BE1EUR EU       1,277.5      (250.5)     137.1
BLOOM ENERGY C-A  1ZB QT          1,277.5      (250.5)     137.1
BLOOM ENERGY C-A  1ZB TH          1,277.5      (250.5)     137.1
BLUE BIRD CORP    4RB GR            396.1       (65.1)      24.8
BLUE BIRD CORP    BLBDEUR EU        396.1       (65.1)      24.8
BLUE BIRD CORP    4RB GZ            396.1       (65.1)      24.8
BLUE BIRD CORP    BLBD US           396.1       (65.1)      24.8
BLUELINX HOLDING  BXC US            999.1       (18.2)     416.8
BOEING CO-BDR     BOEI34 BZ     162,872.0   (11,382.0)  37,795.0
BOEING CO-CED     BAD AR        162,872.0   (11,382.0)  37,795.0
BOEING CO-CED     BA AR         162,872.0   (11,382.0)  37,795.0
BOEING CO/THE     BA EU         162,872.0   (11,382.0)  37,795.0
BOEING CO/THE     BCO GR        162,872.0   (11,382.0)  37,795.0
BOEING CO/THE     BOE LN        162,872.0   (11,382.0)  37,795.0
BOEING CO/THE     BCO TH        162,872.0   (11,382.0)  37,795.0
BOEING CO/THE     BA PE         162,872.0   (11,382.0)  37,795.0
BOEING CO/THE     BOEI BB       162,872.0   (11,382.0)  37,795.0
BOEING CO/THE     BA US         162,872.0   (11,382.0)  37,795.0
BOEING CO/THE     BA SW         162,872.0   (11,382.0)  37,795.0
BOEING CO/THE     BA* MM        162,872.0   (11,382.0)  37,795.0
BOEING CO/THE     BA TE         162,872.0   (11,382.0)  37,795.0
BOEING CO/THE     BAEUR EU      162,872.0   (11,382.0)  37,795.0
BOEING CO/THE     BA AV         162,872.0   (11,382.0)  37,795.0
BOEING CO/THE     BAUSD SW      162,872.0   (11,382.0)  37,795.0
BOEING CO/THE     BCO GZ        162,872.0   (11,382.0)  37,795.0
BOEING CO/THE     BA CI         162,872.0   (11,382.0)  37,795.0
BOEING CO/THE     BCO QT        162,872.0   (11,382.0)  37,795.0
BOEING CO/THE TR  TCXBOE AU     162,872.0   (11,382.0)  37,795.0
BOMBARDIER INC-B  BBDBN MM       23,478.0    (6,526.0)  (1,944.0)
BRINKER INTL      BKJ GR          2,585.4      (574.7)    (204.7)
BRINKER INTL      EAT US          2,585.4      (574.7)    (204.7)
BRINKER INTL      BKJ TH          2,585.4      (574.7)    (204.7)
BRINKER INTL      BKJ QT          2,585.4      (574.7)    (204.7)
BRINKER INTL      EAT2EUR EU      2,585.4      (574.7)    (204.7)
BRP INC/CA-SUB V  DOO CN          4,236.8      (793.6)    (194.9)
BRP INC/CA-SUB V  B15A GR         4,236.8      (793.6)    (194.9)
BRP INC/CA-SUB V  DOOO US         4,236.8      (793.6)    (194.9)
BRP INC/CA-SUB V  B15A GZ         4,236.8      (793.6)    (194.9)
BRP INC/CA-SUB V  DOOEUR EU       4,236.8      (793.6)    (194.9)
CADIZ INC         CDZI US            70.9       (24.2)       2.1
CADIZ INC         2ZC GR             70.9       (24.2)       2.1
CADIZ INC         CDZIEUR EU         70.9       (24.2)       2.1
CAMPING WORLD-A   C83 TH          3,264.6       (69.9)     474.7
CAMPING WORLD-A   C83 QT          3,264.6       (69.9)     474.7
CAMPING WORLD-A   CWH US          3,264.6       (69.9)     474.7
CAMPING WORLD-A   CWHEUR EU       3,264.6       (69.9)     474.7
CAMPING WORLD-A   C83 GR          3,264.6       (69.9)     474.7
CARERX CORP       CHHHF US           92.6       (12.6)       4.0
CARERX CORP       CRRX CN            92.6       (12.6)       4.0
CARERX CORP       29C1 GR            92.6       (12.6)       4.0
CDK GLOBAL INC    CDK US          2,854.1      (580.7)     158.8
CDK GLOBAL INC    C2G QT          2,854.1      (580.7)     158.8
CDK GLOBAL INC    CDK* MM         2,854.1      (580.7)     158.8
CDK GLOBAL INC    CDKEUR EU       2,854.1      (580.7)     158.8
CDK GLOBAL INC    C2G TH          2,854.1      (580.7)     158.8
CDK GLOBAL INC    C2G GR          2,854.1      (580.7)     158.8
CEDAR FAIR LP     FUN US          2,657.5      (411.9)     183.8
CENTRUS ENERGY-A  LEU US            468.9      (291.7)      71.5
CHEWY INC- CL A   CHWY US         1,123.4      (396.5)    (482.0)
CHOICE HOTELS     CZH GR          1,686.0       (42.8)     305.7
CHOICE HOTELS     CHH US          1,686.0       (42.8)     305.7
CINCINNATI BELL   CIB1 GR         2,594.2      (204.6)     (97.3)
CINCINNATI BELL   CBB US          2,594.2      (204.6)     (97.3)
CINCINNATI BELL   CBBEUR EU       2,594.2      (204.6)     (97.3)
CITRIX SYS BDR    C1TX34 BZ       4,548.1       (93.6)    (306.6)
CITRIX SYSTEMS    CTX TH          4,548.1       (93.6)    (306.6)
CITRIX SYSTEMS    CTXS US         4,548.1       (93.6)    (306.6)
CITRIX SYSTEMS    CTX GR          4,548.1       (93.6)    (306.6)
CITRIX SYSTEMS    CTXS* MM        4,548.1       (93.6)    (306.6)
CITRIX SYSTEMS    CTXS AV         4,548.1       (93.6)    (306.6)
CITRIX SYSTEMS    CTXS TE         4,548.1       (93.6)    (306.6)
CITRIX SYSTEMS    CTX GZ          4,548.1       (93.6)    (306.6)
CITRIX SYSTEMS    CTXSEUR EU      4,548.1       (93.6)    (306.6)
CITRIX SYSTEMS    CTX QT          4,548.1       (93.6)    (306.6)
CLOVIS ONCOLOGY   C6O GR            628.2       (97.4)     210.3
CLOVIS ONCOLOGY   CLVS US           628.2       (97.4)     210.3
CLOVIS ONCOLOGY   C6O QT            628.2       (97.4)     210.3
CLOVIS ONCOLOGY   CLVSEUR EU        628.2       (97.4)     210.3
CLOVIS ONCOLOGY   C6O TH            628.2       (97.4)     210.3
COGENT COMMUNICA  OGM1 GR         1,005.4      (235.6)     397.1
COGENT COMMUNICA  CCOI US         1,005.4      (235.6)     397.1
COGENT COMMUNICA  CCOIEUR EU      1,005.4      (235.6)     397.1
COGENT COMMUNICA  CCOI* MM        1,005.4      (235.6)     397.1
COMMUNITY HEALTH  CYH US         16,415.0    (1,563.0)     991.0
COMMUNITY HEALTH  CG5 GR         16,415.0    (1,563.0)     991.0
COMMUNITY HEALTH  CG5 QT         16,415.0    (1,563.0)     991.0
COMMUNITY HEALTH  CYH1EUR EU     16,415.0    (1,563.0)     991.0
COMMUNITY HEALTH  CG5 TH         16,415.0    (1,563.0)     991.0
CYTODYN INC       CYDY US            38.8        (4.4)     (16.4)
CYTODYN INC       CYDYEUR EU         38.8        (4.4)     (16.4)
CYTODYN INC       296 GZ             38.8        (4.4)     (16.4)
CYTODYN INC       296 GR             38.8        (4.4)     (16.4)
CYTOKINETICS INC  CYTK US           232.5       (78.1)     196.3
CYTOKINETICS INC  KK3A GR           232.5       (78.1)     196.3
CYTOKINETICS INC  KK3A TH           232.5       (78.1)     196.3
CYTOKINETICS INC  CYTKEUR EU        232.5       (78.1)     196.3
CYTOKINETICS INC  KK3A QT           232.5       (78.1)     196.3
DELEK LOGISTICS   DKL US            946.2       (44.4)      (0.0)
DENNY'S CORP      DENN US           468.7      (217.5)     (13.7)
DENNY'S CORP      DE8 TH            468.7      (217.5)     (13.7)
DENNY'S CORP      DENNEUR EU        468.7      (217.5)     (13.7)
DENNY'S CORP      DE8 GR            468.7      (217.5)     (13.7)
DIEBOLD NIXDORF   DBD GR          3,721.1      (708.5)     367.5
DIEBOLD NIXDORF   DBD US          3,721.1      (708.5)     367.5
DIEBOLD NIXDORF   DBD SW          3,721.1      (708.5)     367.5
DIEBOLD NIXDORF   DBDEUR EU       3,721.1      (708.5)     367.5
DIEBOLD NIXDORF   DBD TH          3,721.1      (708.5)     367.5
DIEBOLD NIXDORF   DBD QT          3,721.1      (708.5)     367.5
DINE BRANDS GLOB  DIN US          2,043.3      (368.6)     185.3
DINE BRANDS GLOB  IHP GR          2,043.3      (368.6)     185.3
DINE BRANDS GLOB  IHP TH          2,043.3      (368.6)     185.3
DOMINO'S PIZZA    EZV GR          1,581.7    (3,282.9)     467.2
DOMINO'S PIZZA    DPZ US          1,581.7    (3,282.9)     467.2
DOMINO'S PIZZA    EZV TH          1,581.7    (3,282.9)     467.2
DOMINO'S PIZZA    DPZEUR EU       1,581.7    (3,282.9)     467.2
DOMINO'S PIZZA    EZV GZ          1,581.7    (3,282.9)     467.2
DOMINO'S PIZZA    DPZ AV          1,581.7    (3,282.9)     467.2
DOMINO'S PIZZA    DPZ* MM         1,581.7    (3,282.9)     467.2
DOMINO'S PIZZA    EZV QT          1,581.7    (3,282.9)     467.2
DOMO INC- CL B    DOMO US           197.2       (64.0)       1.1
DOMO INC- CL B    1ON GR            197.2       (64.0)       1.1
DOMO INC- CL B    DOMOEUR EU        197.2       (64.0)       1.1
DOMO INC- CL B    1ON GZ            197.2       (64.0)       1.1
DOMO INC- CL B    1ON TH            197.2       (64.0)       1.1
DRAFTKINGS INC-A  8DEA TH           309.6      (102.0)     (12.8)
DRAFTKINGS INC-A  8DEA QT           309.6      (102.0)     (12.8)
DRAFTKINGS INC-A  8DEA GZ           309.6      (102.0)     (12.8)
DRAFTKINGS INC-A  DKNG US           309.6      (102.0)     (12.8)
DRAFTKINGS INC-A  8DEA GR           309.6      (102.0)     (12.8)
DRAFTKINGS INC-A  DKNG1EUR EU       309.6      (102.0)     (12.8)
DRAFTKINGS INC-A  DKNG* MM          309.6      (102.0)     (12.8)
DUNKIN' BRANDS G  2DB GR          3,829.3      (587.7)     319.4
DUNKIN' BRANDS G  2DB TH          3,829.3      (587.7)     319.4
DUNKIN' BRANDS G  DNKN US         3,829.3      (587.7)     319.4
DUNKIN' BRANDS G  DNKNEUR EU      3,829.3      (587.7)     319.4
DUNKIN' BRANDS G  2DB QT          3,829.3      (587.7)     319.4
DUNKIN' BRANDS G  2DB GZ          3,829.3      (587.7)     319.4
EMISPHERE TECH    EMIS US             5.2      (155.3)      (1.4)
ESPERION THERAPE  ESPR US           179.6       (50.2)      99.2
ESPERION THERAPE  ESPREUR EU        179.6       (50.2)      99.2
ESPERION THERAPE  0ET TH            179.6       (50.2)      99.2
ESPERION THERAPE  0ET QT            179.6       (50.2)      99.2
ESPERION THERAPE  0ET GR            179.6       (50.2)      99.2
EVERI HOLDINGS I  EVRI US         1,484.1       (18.8)     108.3
EVERI HOLDINGS I  G2C TH          1,484.1       (18.8)     108.3
EVERI HOLDINGS I  G2C GR          1,484.1       (18.8)     108.3
EVERI HOLDINGS I  EVRIEUR EU      1,484.1       (18.8)     108.3
FLEXION THERAPEU  FLXN US           204.6       (52.3)     145.7
FLEXION THERAPEU  F02 GR            204.6       (52.3)     145.7
FLEXION THERAPEU  F02 TH            204.6       (52.3)     145.7
FLEXION THERAPEU  FLXNEUR EU        204.6       (52.3)     145.7
FLEXION THERAPEU  F02 QT            204.6       (52.3)     145.7
FRONTDOOR IN      FTDR US         1,361.0      (125.0)     161.0
FRONTDOOR IN      3I5 GR          1,361.0      (125.0)     161.0
FRONTDOOR IN      FTDREUR EU      1,361.0      (125.0)     161.0
GLOBALSCAPE INC   32X GR             36.6       (32.7)      (5.5)
GLOBALSCAPE INC   GSB US             36.6       (32.7)      (5.5)
GLORIOUS CREATIO  GCIT CN             0.0        (0.4)      (0.4)
GODADDY INC-A     38D TH          6,092.1      (254.5)  (1,667.8)
GODADDY INC-A     GDDY US         6,092.1      (254.5)  (1,667.8)
GODADDY INC-A     GDDY* MM        6,092.1      (254.5)  (1,667.8)
GODADDY INC-A     38D GR          6,092.1      (254.5)  (1,667.8)
GODADDY INC-A     38D QT          6,092.1      (254.5)  (1,667.8)
GOGO INC          GOGO US         1,191.5      (486.6)     195.1
GOLDEN STAR RES   GS51 GR           381.3       (21.9)     (31.0)
GOLDEN STAR RES   GSR GN            381.3       (21.9)     (31.0)
GOLDEN STAR RES   GSC CN            381.3       (21.9)     (31.0)
GOLDEN STAR RES   GSS US            381.3       (21.9)     (31.0)
GOLDEN STAR RES   GS51 GZ           381.3       (21.9)     (31.0)
GOLDEN STAR RES   GSC1EUR EU        381.3       (21.9)     (31.0)
GOLDEN STAR RES   GS51 QT           381.3       (21.9)     (31.0)
GOOSEHEAD INSU-A  2OX GR            142.6       (17.2)      60.0
GOOSEHEAD INSU-A  GSHDEUR EU        142.6       (17.2)      60.0
GOOSEHEAD INSU-A  GSHD US           142.6       (17.2)      60.0
GORES HOLDINGS I  GHIVU US          427.4       411.8        0.9
GORES HOLDINGS-A  GHIV US           427.4       411.8        0.9
GRAFTECH INTERNA  EAF US          1,534.2      (680.4)     483.6
GRAFTECH INTERNA  G6G GR          1,534.2      (680.4)     483.6
GRAFTECH INTERNA  G6G TH          1,534.2      (680.4)     483.6
GRAFTECH INTERNA  EAFEUR EU       1,534.2      (680.4)     483.6
GRAFTECH INTERNA  G6G QT          1,534.2      (680.4)     483.6
GRAFTECH INTERNA  G6G GZ          1,534.2      (680.4)     483.6
GREEN PLAINS PAR  GPP US            105.3       (69.2)     (36.9)
GREENSKY INC-A    GSKY US           938.4      (213.5)     248.0
HANGER INC        HNGR US           869.2       (16.0)     163.1
HANGER INC        HO8 GR            869.2       (16.0)     163.1
HANGER INC        HNGREUR EU        869.2       (16.0)     163.1
HERBALIFE NUTRIT  HOO GR          3,567.4      (264.8)   1,304.9
HERBALIFE NUTRIT  HLF US          3,567.4      (264.8)   1,304.9
HERBALIFE NUTRIT  HOO TH          3,567.4      (264.8)   1,304.9
HERBALIFE NUTRIT  HOO GZ          3,567.4      (264.8)   1,304.9
HERBALIFE NUTRIT  HLFEUR EU       3,567.4      (264.8)   1,304.9
HERBALIFE NUTRIT  HOO QT          3,567.4      (264.8)   1,304.9
HEWLETT-CEDEAR    HPQ AR         33,773.0      (743.0)  (5,616.0)
HEWLETT-CEDEAR    HPQC AR        33,773.0      (743.0)  (5,616.0)
HEWLETT-CEDEAR    HPQD AR        33,773.0      (743.0)  (5,616.0)
HILTON WORLD-BDR  H1LT34 BZ      17,126.0    (1,291.0)   2,129.0
HILTON WORLDWIDE  HLT US         17,126.0    (1,291.0)   2,129.0
HILTON WORLDWIDE  HI91 GR        17,126.0    (1,291.0)   2,129.0
HILTON WORLDWIDE  HI91 TH        17,126.0    (1,291.0)   2,129.0
HILTON WORLDWIDE  HLT* MM        17,126.0    (1,291.0)   2,129.0
HILTON WORLDWIDE  HLTW AV        17,126.0    (1,291.0)   2,129.0
HILTON WORLDWIDE  HLTEUR EU      17,126.0    (1,291.0)   2,129.0
HILTON WORLDWIDE  HI91 TE        17,126.0    (1,291.0)   2,129.0
HOME DEPOT - BDR  HOME34 BZ      58,737.0    (3,490.0)   3,929.0
HOME DEPOT INC    HD TE          58,737.0    (3,490.0)   3,929.0
HOME DEPOT INC    HDI TH         58,737.0    (3,490.0)   3,929.0
HOME DEPOT INC    HDI GR         58,737.0    (3,490.0)   3,929.0
HOME DEPOT INC    HD US          58,737.0    (3,490.0)   3,929.0
HOME DEPOT INC    HD* MM         58,737.0    (3,490.0)   3,929.0
HOME DEPOT INC    HD AV          58,737.0    (3,490.0)   3,929.0
HOME DEPOT INC    0R1G LN        58,737.0    (3,490.0)   3,929.0
HOME DEPOT INC    HDUSD SW       58,737.0    (3,490.0)   3,929.0
HOME DEPOT INC    HDI GZ         58,737.0    (3,490.0)   3,929.0
HOME DEPOT INC    HD CI          58,737.0    (3,490.0)   3,929.0
HOME DEPOT INC    HD SW          58,737.0    (3,490.0)   3,929.0
HOME DEPOT INC    HDEUR EU       58,737.0    (3,490.0)   3,929.0
HOME DEPOT INC    HDI QT         58,737.0    (3,490.0)   3,929.0
HOME DEPOT-CED    HDD AR         58,737.0    (3,490.0)   3,929.0
HOME DEPOT-CED    HDC AR         58,737.0    (3,490.0)   3,929.0
HOME DEPOT-CED    HD AR          58,737.0    (3,490.0)   3,929.0
HOVNANIAN ENT-A   HOV US          1,905.6      (495.1)     879.8
HP COMPANY-BDR    HPQB34 BZ      33,773.0      (743.0)  (5,616.0)
HP INC            HPQ TE         33,773.0      (743.0)  (5,616.0)
HP INC            7HP TH         33,773.0      (743.0)  (5,616.0)
HP INC            7HP GR         33,773.0      (743.0)  (5,616.0)
HP INC            HPQ US         33,773.0      (743.0)  (5,616.0)
HP INC            HPQ* MM        33,773.0      (743.0)  (5,616.0)
HP INC            HPQUSD SW      33,773.0      (743.0)  (5,616.0)
HP INC            HPQEUR EU      33,773.0      (743.0)  (5,616.0)
HP INC            7HP GZ         33,773.0      (743.0)  (5,616.0)
HP INC            HPQ CI         33,773.0      (743.0)  (5,616.0)
HP INC            HPQ AV         33,773.0      (743.0)  (5,616.0)
HP INC            HPQ SW         33,773.0      (743.0)  (5,616.0)
HP INC            7HP QT         33,773.0      (743.0)  (5,616.0)
HUMANIGEN INC     HGEN US             0.4       (16.3)     (15.1)
IAA INC           IAA US          2,273.5       (67.4)     292.9
IAA INC           3NI GR          2,273.5       (67.4)     292.9
IAA INC           IAA-WEUR EU     2,273.5       (67.4)     292.9
IMMUNOGEN INC     IMU GR            269.7       (24.5)     150.5
IMMUNOGEN INC     IMGN US           269.7       (24.5)     150.5
IMMUNOGEN INC     IMU TH            269.7       (24.5)     150.5
IMMUNOGEN INC     IMGNEUR EU        269.7       (24.5)     150.5
IMMUNOGEN INC     IMU GZ            269.7       (24.5)     150.5
IMMUNOGEN INC     IMGN* MM          269.7       (24.5)     150.5
IMMUNOGEN INC     IMU QT            269.7       (24.5)     150.5
IMV INC           IMV CN             15.3        (2.4)       4.6
IMV INC           IMV US             15.3        (2.4)       4.6
IMV INC           IMV1EUR EU         15.3        (2.4)       4.6
IMV INC           5IV1 GR            15.3        (2.4)       4.6
INSEEGO CORP      INO TH            211.9       (41.9)      46.8
INSEEGO CORP      INO QT            211.9       (41.9)      46.8
INSEEGO CORP      INSG US           211.9       (41.9)      46.8
INSEEGO CORP      INO GR            211.9       (41.9)      46.8
INSEEGO CORP      INSGEUR EU        211.9       (41.9)      46.8
INSEEGO CORP      INO GZ            211.9       (41.9)      46.8
INTERCEPT PHARMA  I4P TH            662.4       (34.7)     478.2
INTERCEPT PHARMA  I4P QT            662.4       (34.7)     478.2
INTERCEPT PHARMA  ICPT US           662.4       (34.7)     478.2
INTERCEPT PHARMA  I4P GR            662.4       (34.7)     478.2
INTERCEPT PHARMA  ICPT* MM          662.4       (34.7)     478.2
IRONWOOD PHARMAC  I76 TH            443.5       (36.9)     347.6
IRONWOOD PHARMAC  IRWD US           443.5       (36.9)     347.6
IRONWOOD PHARMAC  I76 GR            443.5       (36.9)     347.6
IRONWOOD PHARMAC  I76 QT            443.5       (36.9)     347.6
IRONWOOD PHARMAC  IRWDEUR EU        443.5       (36.9)     347.6
JACK IN THE BOX   JBX GR          1,886.7      (827.0)     (42.7)
JACK IN THE BOX   JACK US         1,886.7      (827.0)     (42.7)
JACK IN THE BOX   JBX GZ          1,886.7      (827.0)     (42.7)
JACK IN THE BOX   JBX QT          1,886.7      (827.0)     (42.7)
JACK IN THE BOX   JACK1EUR EU     1,886.7      (827.0)     (42.7)
JOSEMARIA RESOUR  JOSE SS            22.3       (36.4)     (27.2)
JOSEMARIA RESOUR  NGQSEK EU          22.3       (36.4)     (27.2)
JOSEMARIA RESOUR  JOSES EB           22.3       (36.4)     (27.2)
JOSEMARIA RESOUR  JOSES IX           22.3       (36.4)     (27.2)
JOSEMARIA RESOUR  JOSES I2           22.3       (36.4)     (27.2)
KONTOOR BRAND     KTB US          1,572.8       (44.9)     589.1
KONTOOR BRAND     3KO TH          1,572.8       (44.9)     589.1
KONTOOR BRAND     3KO GR          1,572.8       (44.9)     589.1
KONTOOR BRAND     KTBEUR EU       1,572.8       (44.9)     589.1
KONTOOR BRAND     3KO QT          1,572.8       (44.9)     589.1
KONTOOR BRAND     3KO GZ          1,572.8       (44.9)     589.1
L BRANDS INC      LTD GR          9,439.0    (1,858.0)     166.0
L BRANDS INC      LB US           9,439.0    (1,858.0)     166.0
L BRANDS INC      LTD TH          9,439.0    (1,858.0)     166.0
L BRANDS INC      LTD SW          9,439.0    (1,858.0)     166.0
L BRANDS INC      LBRA AV         9,439.0    (1,858.0)     166.0
L BRANDS INC      LB* MM          9,439.0    (1,858.0)     166.0
L BRANDS INC      LTD QT          9,439.0    (1,858.0)     166.0
L BRANDS INC      LBEUR EU        9,439.0    (1,858.0)     166.0
L BRANDS INC-BDR  LBRN34 BZ       9,439.0    (1,858.0)     166.0
LENNOX INTL INC   LXI GR          2,124.3      (228.9)     280.7
LENNOX INTL INC   LII US          2,124.3      (228.9)     280.7
LENNOX INTL INC   LII* MM         2,124.3      (228.9)     280.7
LENNOX INTL INC   LXI TH          2,124.3      (228.9)     280.7
LENNOX INTL INC   LII1EUR EU      2,124.3      (228.9)     280.7
LIVEXLIVE MEDIA   LIVX US            54.1        (7.1)     (30.1)
MARRIOTT - BDR    M1TT34 BZ      25,549.0       (20.0)  (2,467.0)
MARRIOTT INTL-A   MAQ GR         25,549.0       (20.0)  (2,467.0)
MARRIOTT INTL-A   MAR US         25,549.0       (20.0)  (2,467.0)
MARRIOTT INTL-A   MAQ TH         25,549.0       (20.0)  (2,467.0)
MARRIOTT INTL-A   MAQ SW         25,549.0       (20.0)  (2,467.0)
MARRIOTT INTL-A   MAR AV         25,549.0       (20.0)  (2,467.0)
MARRIOTT INTL-A   MAR TE         25,549.0       (20.0)  (2,467.0)
MARRIOTT INTL-A   MAREUR EU      25,549.0       (20.0)  (2,467.0)
MARRIOTT INTL-A   MAQ GZ         25,549.0       (20.0)  (2,467.0)
MARRIOTT INTL-A   MAQ QT         25,549.0       (20.0)  (2,467.0)
MCDONALD'S CORP   TCXMCD AU      50,568.0    (9,293.4)   3,569.1
MCDONALDS - BDR   MCDC34 BZ      50,568.0    (9,293.4)   3,569.1
MCDONALDS CORP    MDO TH         50,568.0    (9,293.4)   3,569.1
MCDONALDS CORP    MCD SW         50,568.0    (9,293.4)   3,569.1
MCDONALDS CORP    MCD US         50,568.0    (9,293.4)   3,569.1
MCDONALDS CORP    MDO GR         50,568.0    (9,293.4)   3,569.1
MCDONALDS CORP    MCD* MM        50,568.0    (9,293.4)   3,569.1
MCDONALDS CORP    MCD TE         50,568.0    (9,293.4)   3,569.1
MCDONALDS CORP    MCD AV         50,568.0    (9,293.4)   3,569.1
MCDONALDS CORP    0R16 LN        50,568.0    (9,293.4)   3,569.1
MCDONALDS CORP    MCDUSD SW      50,568.0    (9,293.4)   3,569.1
MCDONALDS CORP    MCDEUR EU      50,568.0    (9,293.4)   3,569.1
MCDONALDS CORP    MDO GZ         50,568.0    (9,293.4)   3,569.1
MCDONALDS CORP    MCD CI         50,568.0    (9,293.4)   3,569.1
MCDONALDS CORP    MDO QT         50,568.0    (9,293.4)   3,569.1
MCDONALDS-CEDEAR  MCD AR         50,568.0    (9,293.4)   3,569.1
MCDONALDS-CEDEAR  MCDC AR        50,568.0    (9,293.4)   3,569.1
MCDONALDS-CEDEAR  MCDD AR        50,568.0    (9,293.4)   3,569.1
MERCER PARK BR-A  MRCQF US          411.4        (9.5)       2.9
MERCER PARK BR-A  BRND/A/U CN       411.4        (9.5)       2.9
MICHAELS COS INC  MIK US          4,307.6    (1,515.4)     347.9
MICHAELS COS INC  MIM GR          4,307.6    (1,515.4)     347.9
MICHAELS COS INC  MIKEUR EU       4,307.6    (1,515.4)     347.9
MONEYGRAM INTERN  MGI US          4,417.8      (268.5)    (122.3)
MOTOROLA SOL-BDR  M1SI34 BZ      10,374.0      (815.0)     606.0
MOTOROLA SOL-CED  MSI AR         10,374.0      (815.0)     606.0
MOTOROLA SOLUTIO  MOT TE         10,374.0      (815.0)     606.0
MOTOROLA SOLUTIO  MSI US         10,374.0      (815.0)     606.0
MOTOROLA SOLUTIO  MTLA TH        10,374.0      (815.0)     606.0
MOTOROLA SOLUTIO  MTLA GR        10,374.0      (815.0)     606.0
MOTOROLA SOLUTIO  MOSI AV        10,374.0      (815.0)     606.0
MOTOROLA SOLUTIO  MTLA GZ        10,374.0      (815.0)     606.0
MOTOROLA SOLUTIO  MSI1EUR EU     10,374.0      (815.0)     606.0
MOTOROLA SOLUTIO  MTLA QT        10,374.0      (815.0)     606.0
MSCI INC          MSCI US         4,187.4      (310.9)   1,064.9
MSCI INC          3HM GR          4,187.4      (310.9)   1,064.9
MSCI INC          3HM GZ          4,187.4      (310.9)   1,064.9
MSCI INC          3HM SW          4,187.4      (310.9)   1,064.9
MSCI INC          3HM QT          4,187.4      (310.9)   1,064.9
MSCI INC          MSCI* MM        4,187.4      (310.9)   1,064.9
MSCI INC-BDR      M1SC34 BZ       4,187.4      (310.9)   1,064.9
MSG NETWORKS- A   MSGN US           797.6      (612.0)     210.8
MSG NETWORKS- A   1M4 GR            797.6      (612.0)     210.8
MSG NETWORKS- A   1M4 QT            797.6      (612.0)     210.8
MSG NETWORKS- A   MSGNEUR EU        797.6      (612.0)     210.8
MSG NETWORKS- A   1M4 TH            797.6      (612.0)     210.8
NANTHEALTH INC    NEL TH            261.0       (33.6)      28.2
NANTHEALTH INC    NH US             261.0       (33.6)      28.2
NANTHEALTH INC    NEL GR            261.0       (33.6)      28.2
NANTHEALTH INC    NHEUR EU          261.0       (33.6)      28.2
NATHANS FAMOUS    NATH US           102.2       (65.3)      76.4
NATHANS FAMOUS    NFA GR            102.2       (65.3)      76.4
NATHANS FAMOUS    NATHEUR EU        102.2       (65.3)      76.4
NAVISTAR INTL     IHR TH          6,440.0    (3,856.0)   1,842.0
NAVISTAR INTL     NAV US          6,440.0    (3,856.0)   1,842.0
NAVISTAR INTL     IHR GR          6,440.0    (3,856.0)   1,842.0
NAVISTAR INTL     NAVEUR EU       6,440.0    (3,856.0)   1,842.0
NAVISTAR INTL     IHR QT          6,440.0    (3,856.0)   1,842.0
NAVISTAR INTL     IHR GZ          6,440.0    (3,856.0)   1,842.0
NESCO HOLDINGS I  NSCO US           815.1       (27.5)      62.5
NEW ENG RLTY-LP   NEN US            294.7       (38.0)       -
NORTONLIFEL- BDR  S1YM34 BZ       6,405.0      (503.0)    (598.0)
NORTONLIFELOCK I  NLOK US         6,405.0      (503.0)    (598.0)
NORTONLIFELOCK I  SYM GR          6,405.0      (503.0)    (598.0)
NORTONLIFELOCK I  SYMC TE         6,405.0      (503.0)    (598.0)
NORTONLIFELOCK I  SYMC AV         6,405.0      (503.0)    (598.0)
NORTONLIFELOCK I  NLOK* MM        6,405.0      (503.0)    (598.0)
NORTONLIFELOCK I  SYMCEUR EU      6,405.0      (503.0)    (598.0)
NORTONLIFELOCK I  SYM GZ          6,405.0      (503.0)    (598.0)
NORTONLIFELOCK I  SYM QT          6,405.0      (503.0)    (598.0)
NOVAVAX INC       NVV1 TH           328.1       (24.0)     236.3
NOVAVAX INC       NVAX* MM          328.1       (24.0)     236.3
NOVAVAX INC       NVV1 SW           328.1       (24.0)     236.3
NOVAVAX INC       NVV1 GR           328.1       (24.0)     236.3
NOVAVAX INC       NVAX US           328.1       (24.0)     236.3
NOVAVAX INC       NVV1 GZ           328.1       (24.0)     236.3
NOVAVAX INC       NVV1 QT           328.1       (24.0)     236.3
NOVAVAX INC       NVAXEUR EU        328.1       (24.0)     236.3
NUNZIA PHARMACEU  NUNZ US             0.1        (3.2)      (2.5)
NUTANIX INC - A   0NU GZ          1,773.3      (184.0)     381.8
NUTANIX INC - A   0NU GR          1,773.3      (184.0)     381.8
NUTANIX INC - A   NTNXEUR EU      1,773.3      (184.0)     381.8
NUTANIX INC - A   0NU TH          1,773.3      (184.0)     381.8
NUTANIX INC - A   0NU QT          1,773.3      (184.0)     381.8
NUTANIX INC - A   NTNX US         1,773.3      (184.0)     381.8
OCULAR THERAPEUT  0OT GZ             72.9       (10.7)      44.0
OCULAR THERAPEUT  OCUL US            72.9       (10.7)      44.0
OCULAR THERAPEUT  0OT TH             72.9       (10.7)      44.0
OCULAR THERAPEUT  OCULEUR EU         72.9       (10.7)      44.0
OCULAR THERAPEUT  0OT GR             72.9       (10.7)      44.0
OMEROS CORP       OMER US           118.2      (131.9)      27.7
OMEROS CORP       3O8 GR            118.2      (131.9)      27.7
OMEROS CORP       3O8 QT            118.2      (131.9)      27.7
OMEROS CORP       OMEREUR EU        118.2      (131.9)      27.7
OMEROS CORP       3O8 TH            118.2      (131.9)      27.7
ONTRAK INC        OTRK US            22.9       (27.5)       4.4
ONTRAK INC        HY1N GZ            22.9       (27.5)       4.4
ONTRAK INC        HY1N GR            22.9       (27.5)       4.4
ONTRAK INC        CATSEUR EU         22.9       (27.5)       4.4
OPEN LENDING C-A  LPRO US           115.2       (56.6)       -
OPTIVA INC        OPT CN             95.7       (34.8)       9.3
OPTIVA INC        RKNEF US           95.7       (34.8)       9.3
OTIS WORLDWI      OTIS US        10,441.0    (3,576.0)     630.0
OTIS WORLDWI      4PG GR         10,441.0    (3,576.0)     630.0
OTIS WORLDWI      4PG GZ         10,441.0    (3,576.0)     630.0
OTIS WORLDWI      OTIS* MM       10,441.0    (3,576.0)     630.0
OTIS WORLDWI      OTISEUR EU     10,441.0    (3,576.0)     630.0
OTIS WORLDWI      4PG TH         10,441.0    (3,576.0)     630.0
OTIS WORLDWI      4PG QT         10,441.0    (3,576.0)     630.0
PAPA JOHN'S INTL  PP1 GR            757.7       (33.4)      (3.4)
PAPA JOHN'S INTL  PZZA US           757.7       (33.4)      (3.4)
PAPA JOHN'S INTL  PZZAEUR EU        757.7       (33.4)      (3.4)
PAPA JOHN'S INTL  PP1 GZ            757.7       (33.4)      (3.4)
PARATEK PHARMACE  PRTK US           233.7       (55.2)     183.9
PARATEK PHARMACE  N4CN GR           233.7       (55.2)     183.9
PARATEK PHARMACE  N4CN TH           233.7       (55.2)     183.9
PHILIP MORRI-BDR  PHMO34 BZ      39,162.0   (10,120.0)   1,984.0
PHILIP MORRIS IN  4I1 GR         39,162.0   (10,120.0)   1,984.0
PHILIP MORRIS IN  PM US          39,162.0   (10,120.0)   1,984.0
PHILIP MORRIS IN  PM1CHF EU      39,162.0   (10,120.0)   1,984.0
PHILIP MORRIS IN  PM1 TE         39,162.0   (10,120.0)   1,984.0
PHILIP MORRIS IN  4I1 TH         39,162.0   (10,120.0)   1,984.0
PHILIP MORRIS IN  PM1EUR EU      39,162.0   (10,120.0)   1,984.0
PHILIP MORRIS IN  PMI SW         39,162.0   (10,120.0)   1,984.0
PHILIP MORRIS IN  PMIZ EB        39,162.0   (10,120.0)   1,984.0
PHILIP MORRIS IN  PMIZ IX        39,162.0   (10,120.0)   1,984.0
PHILIP MORRIS IN  0M8V LN        39,162.0   (10,120.0)   1,984.0
PHILIP MORRIS IN  PMOR AV        39,162.0   (10,120.0)   1,984.0
PHILIP MORRIS IN  4I1 GZ         39,162.0   (10,120.0)   1,984.0
PHILIP MORRIS IN  PM* MM         39,162.0   (10,120.0)   1,984.0
PHILIP MORRIS IN  4I1 QT         39,162.0   (10,120.0)   1,984.0
PLANET FITNESS-A  PLNT1EUR EU     1,800.0      (721.7)     446.9
PLANET FITNESS-A  3PL QT          1,800.0      (721.7)     446.9
PLANET FITNESS-A  PLNT US         1,800.0      (721.7)     446.9
PLANET FITNESS-A  3PL TH          1,800.0      (721.7)     446.9
PLANET FITNESS-A  3PL GR          1,800.0      (721.7)     446.9
PLANTRONICS INC   PLT US          2,228.9      (149.7)     183.5
PLANTRONICS INC   PTM GR          2,228.9      (149.7)     183.5
PLANTRONICS INC   PLTEUR EU       2,228.9      (149.7)     183.5
PLANTRONICS INC   PTM GZ          2,228.9      (149.7)     183.5
PLATINUM GROUP M  PTM CN             36.3        (4.3)      (1.8)
PPD INC           PPD US          5,906.5    (1,034.5)     136.9
PRIORITY TECHNOL  PRTHU US          447.9      (126.2)      (2.3)
PROGENITY INC     4ZU TH            111.0       (84.8)       9.5
PROGENITY INC     4ZU GR            111.0       (84.8)       9.5
PROGENITY INC     PROGEUR EU        111.0       (84.8)       9.5
PROGENITY INC     4ZU QT            111.0       (84.8)       9.5
PROGENITY INC     4ZU GZ            111.0       (84.8)       9.5
PROGENITY INC     PROG US           111.0       (84.8)       9.5
PROVENTION BIO I  2VB GZ            175.8      (113.8)      71.2
PROVENTION BIO I  PRVB US           175.8      (113.8)      71.2
PROVENTION BIO I  2VB GR            175.8      (113.8)      71.2
PROVENTION BIO I  PRVBEUR EU        175.8      (113.8)      71.2
PSOMAGEN INC-KDR  950200 KS           -           -          -
QUANTUM CORP      QMCO US           164.9      (195.5)      (0.9)
QUANTUM CORP      QNT2 GR           164.9      (195.5)      (0.9)
QUANTUM CORP      QTM1EUR EU        164.9      (195.5)      (0.9)
RADIUS HEALTH IN  RDUS US           201.6       (74.2)     124.6
RADIUS HEALTH IN  1R8 GR            201.6       (74.2)     124.6
RADIUS HEALTH IN  1R8 TH            201.6       (74.2)     124.6
RADIUS HEALTH IN  1R8 QT            201.6       (74.2)     124.6
RADIUS HEALTH IN  RDUSEUR EU        201.6       (74.2)     124.6
REC SILICON ASA   RECO IX           268.9       (49.9)       4.4
REC SILICON ASA   REC SS            268.9       (49.9)       4.4
REC SILICON ASA   RECO S1           268.9       (49.9)       4.4
REC SILICON ASA   RECO TQ           268.9       (49.9)       4.4
REC SILICON ASA   REC EU            268.9       (49.9)       4.4
REC SILICON ASA   RECO EB           268.9       (49.9)       4.4
REC SILICON ASA   REC NO            268.9       (49.9)       4.4
REC SILICON ASA   RECO QX           268.9       (49.9)       4.4
REC SILICON ASA   RECO I2           268.9       (49.9)       4.4
REC SILICON ASA   RECO B3           268.9       (49.9)       4.4
REC SILICON ASA   RECO S2           268.9       (49.9)       4.4
REVLON INC-A      RVL1 GR         2,779.6    (1,435.8)    (447.5)
REVLON INC-A      REV US          2,779.6    (1,435.8)    (447.5)
REVLON INC-A      REV* MM         2,779.6    (1,435.8)    (447.5)
REVLON INC-A      RVL1 TH         2,779.6    (1,435.8)    (447.5)
REVLON INC-A      REVEUR EU       2,779.6    (1,435.8)    (447.5)
RIMINI STREET IN  RMNI US           201.8       (89.8)     (91.5)
ROSETTA STONE IN  RS8 TH            191.0       (20.2)     (65.3)
ROSETTA STONE IN  RS8 GR            191.0       (20.2)     (65.3)
ROSETTA STONE IN  RST US            191.0       (20.2)     (65.3)
ROSETTA STONE IN  RST1EUR EU        191.0       (20.2)     (65.3)
SALLY BEAUTY HOL  S7V GR          3,198.1       (69.1)     825.6
SALLY BEAUTY HOL  SBH US          3,198.1       (69.1)     825.6
SALLY BEAUTY HOL  SBHEUR EU       3,198.1       (69.1)     825.6
SBA COMM CORP     4SB GR          9,390.5    (4,290.6)      71.4
SBA COMM CORP     SBAC US         9,390.5    (4,290.6)      71.4
SBA COMM CORP     4SB GZ          9,390.5    (4,290.6)      71.4
SBA COMM CORP     4SB TH          9,390.5    (4,290.6)      71.4
SBA COMM CORP     SBAC* MM        9,390.5    (4,290.6)      71.4
SBA COMM CORP     SBACEUR EU      9,390.5    (4,290.6)      71.4
SBA COMM CORP     4SB QT          9,390.5    (4,290.6)      71.4
SCIENTIFIC GAMES  TJW TH          7,844.0    (2,479.0)     847.0
SCIENTIFIC GAMES  TJW GZ          7,844.0    (2,479.0)     847.0
SCIENTIFIC GAMES  SGMS US         7,844.0    (2,479.0)     847.0
SCIENTIFIC GAMES  TJW GR          7,844.0    (2,479.0)     847.0
SEALED AIR C-BDR  S1EA34 BZ       5,756.3       (70.1)     277.4
SEALED AIR CORP   SDA GR          5,756.3       (70.1)     277.4
SEALED AIR CORP   SEE US          5,756.3       (70.1)     277.4
SEALED AIR CORP   SEE1EUR EU      5,756.3       (70.1)     277.4
SEALED AIR CORP   SDA TH          5,756.3       (70.1)     277.4
SEALED AIR CORP   SDA QT          5,756.3       (70.1)     277.4
SERES THERAPEUTI  MCRB1EUR EU       100.7       (65.6)      28.5
SERES THERAPEUTI  MCRB US           100.7       (65.6)      28.5
SERES THERAPEUTI  1S9 GR            100.7       (65.6)      28.5
SHELL MIDSTREAM   SHLX US         2,416.0      (379.0)     317.0
SIRIUS XM HOLDIN  RDO GR         12,465.0      (668.0)  (2,057.0)
SIRIUS XM HOLDIN  RDO TH         12,465.0      (668.0)  (2,057.0)
SIRIUS XM HOLDIN  SIRI US        12,465.0      (668.0)  (2,057.0)
SIRIUS XM HOLDIN  SIRI AV        12,465.0      (668.0)  (2,057.0)
SIRIUS XM HOLDIN  SIRIEUR EU     12,465.0      (668.0)  (2,057.0)
SIRIUS XM HOLDIN  RDO GZ         12,465.0      (668.0)  (2,057.0)
SIRIUS XM HOLDIN  RDO QT         12,465.0      (668.0)  (2,057.0)
SIX FLAGS ENTERT  6FE GR          2,968.9      (426.8)      82.8
SIX FLAGS ENTERT  6FE QT          2,968.9      (426.8)      82.8
SIX FLAGS ENTERT  SIX US          2,968.9      (426.8)      82.8
SIX FLAGS ENTERT  SIXEUR EU       2,968.9      (426.8)      82.8
SIX FLAGS ENTERT  6FE TH          2,968.9      (426.8)      82.8
SLEEP NUMBER COR  SNBR US           768.8      (163.0)    (420.8)
SLEEP NUMBER COR  SL2 GR            768.8      (163.0)    (420.8)
SLEEP NUMBER COR  SNBREUR EU        768.8      (163.0)    (420.8)
SOCIAL CAPITAL    IPOB/U US           0.5         0.0       (0.3)
SOCIAL CAPITAL    IPOC/U US           0.7         0.0       (0.6)
SOCIAL CAPITAL-A  IPOB US             0.5         0.0       (0.3)
SOCIAL CAPITAL-A  IPOC US             0.7         0.0       (0.6)
SONA NANOTECH IN  SNANF US            1.8        (1.4)      (1.6)
SONA NANOTECH IN  SONA CN             1.8        (1.4)      (1.6)
STARBUCKS CORP    SBUX* MM       29,140.6    (8,624.3)    (421.0)
STARBUCKS CORP    SRB GR         29,140.6    (8,624.3)    (421.0)
STARBUCKS CORP    SRB TH         29,140.6    (8,624.3)    (421.0)
STARBUCKS CORP    USSBUX KZ      29,140.6    (8,624.3)    (421.0)
STARBUCKS CORP    SBUX AV        29,140.6    (8,624.3)    (421.0)
STARBUCKS CORP    SBUXEUR EU     29,140.6    (8,624.3)    (421.0)
STARBUCKS CORP    SBUX TE        29,140.6    (8,624.3)    (421.0)
STARBUCKS CORP    SBUX IM        29,140.6    (8,624.3)    (421.0)
STARBUCKS CORP    SBUX US        29,140.6    (8,624.3)    (421.0)
STARBUCKS CORP    0QZH LI        29,140.6    (8,624.3)    (421.0)
STARBUCKS CORP    SBUXUSD SW     29,140.6    (8,624.3)    (421.0)
STARBUCKS CORP    SRB GZ         29,140.6    (8,624.3)    (421.0)
STARBUCKS CORP    SBUX CI        29,140.6    (8,624.3)    (421.0)
STARBUCKS CORP    SBUX PE        29,140.6    (8,624.3)    (421.0)
STARBUCKS CORP    SBUX SW        29,140.6    (8,624.3)    (421.0)
STARBUCKS CORP    SRB QT         29,140.6    (8,624.3)    (421.0)
STARBUCKS-BDR     SBUB34 BZ      29,140.6    (8,624.3)    (421.0)
STARBUCKS-CEDEAR  SBUX AR        29,140.6    (8,624.3)    (421.0)
STARBUCKS-CEDEAR  SBUXD AR       29,140.6    (8,624.3)    (421.0)
TAILORED BRANDS   TLRDQ* MM       2,500.4      (378.3)    (966.9)
TAUBMAN CENTERS   TU8 GR          4,727.0      (241.7)       -
TAUBMAN CENTERS   TCO US          4,727.0      (241.7)       -
TAUBMAN CENTERS   TCO2EUR EU      4,727.0      (241.7)       -
TG THERAPEUTICS   TGTX US           101.8        (1.4)      24.9
TG THERAPEUTICS   NKB2 GR           101.8        (1.4)      24.9
TG THERAPEUTICS   NKB2 QT           101.8        (1.4)      24.9
TG THERAPEUTICS   NKB2 TH           101.8        (1.4)      24.9
TRANSDIGM - BDR   T1DG34 BZ      18,179.0    (4,179.0)   5,120.0
TRANSDIGM GROUP   TDG US         18,179.0    (4,179.0)   5,120.0
TRANSDIGM GROUP   T7D GR         18,179.0    (4,179.0)   5,120.0
TRANSDIGM GROUP   TDG* MM        18,179.0    (4,179.0)   5,120.0
TRANSDIGM GROUP   T7D TH         18,179.0    (4,179.0)   5,120.0
TRANSDIGM GROUP   TDGEUR EU      18,179.0    (4,179.0)   5,120.0
TRANSDIGM GROUP   T7D QT         18,179.0    (4,179.0)   5,120.0
TRIUMPH GROUP     TG7 GR          2,266.3    (1,047.4)     383.3
TRIUMPH GROUP     TGI US          2,266.3    (1,047.4)     383.3
TRIUMPH GROUP     TG7 TH          2,266.3    (1,047.4)     383.3
TRIUMPH GROUP     TGIEUR EU       2,266.3    (1,047.4)     383.3
TUPPERWARE BRAND  TUP GR          1,194.3      (282.3)    (730.8)
TUPPERWARE BRAND  TUP US          1,194.3      (282.3)    (730.8)
TUPPERWARE BRAND  TUP SW          1,194.3      (282.3)    (730.8)
TUPPERWARE BRAND  TUP TH          1,194.3      (282.3)    (730.8)
TUPPERWARE BRAND  TUP1EUR EU      1,194.3      (282.3)    (730.8)
TUPPERWARE BRAND  TUP GZ          1,194.3      (282.3)    (730.8)
TUPPERWARE BRAND  TUP QT          1,194.3      (282.3)    (730.8)
UBIQUITI INC      UI US             620.6      (356.0)     305.0
UBIQUITI INC      3UB GR            620.6      (356.0)     305.0
UBIQUITI INC      3UB GZ            620.6      (356.0)     305.0
UBIQUITI INC      UBNTEUR EU        620.6      (356.0)     305.0
UNISYS CORP       USY1 TH         2,971.6      (209.4)     572.4
UNISYS CORP       USY1 GR         2,971.6      (209.4)     572.4
UNISYS CORP       UIS1 SW         2,971.6      (209.4)     572.4
UNISYS CORP       UIS US          2,971.6      (209.4)     572.4
UNISYS CORP       UISEUR EU       2,971.6      (209.4)     572.4
UNISYS CORP       UISCHF EU       2,971.6      (209.4)     572.4
UNISYS CORP       USY1 GZ         2,971.6      (209.4)     572.4
UNISYS CORP       USY1 QT         2,971.6      (209.4)     572.4
UNITI GROUP INC   8XC TH          5,014.1    (1,595.5)       -
UNITI GROUP INC   8XC GR          5,014.1    (1,595.5)       -
UNITI GROUP INC   UNIT US         5,014.1    (1,595.5)       -
VALVOLINE INC     0V4 GR          2,963.0      (188.0)     947.0
VALVOLINE INC     0V4 TH          2,963.0      (188.0)     947.0
VALVOLINE INC     VVVEUR EU       2,963.0      (188.0)     947.0
VALVOLINE INC     0V4 QT          2,963.0      (188.0)     947.0
VALVOLINE INC     VVV US          2,963.0      (188.0)     947.0
VECTOR GROUP LTD  VGR US          1,494.8      (719.0)     238.5
VECTOR GROUP LTD  VGR GR          1,494.8      (719.0)     238.5
VECTOR GROUP LTD  VGREUR EU       1,494.8      (719.0)     238.5
VECTOR GROUP LTD  VGR TH          1,494.8      (719.0)     238.5
VECTOR GROUP LTD  VGR QT          1,494.8      (719.0)     238.5
VECTOR GROUP LTD  VGR GZ          1,494.8      (719.0)     238.5
VERISIGN INC      VRS TH          1,820.1    (1,400.3)     231.3
VERISIGN INC      VRS GR          1,820.1    (1,400.3)     231.3
VERISIGN INC      VRSN US         1,820.1    (1,400.3)     231.3
VERISIGN INC      VRSN* MM        1,820.1    (1,400.3)     231.3
VERISIGN INC      VRSNEUR EU      1,820.1    (1,400.3)     231.3
VERISIGN INC      VRS GZ          1,820.1    (1,400.3)     231.3
VERISIGN INC      VRS QT          1,820.1    (1,400.3)     231.3
VERISIGN INC-BDR  VRSN34 BZ       1,820.1    (1,400.3)     231.3
VERISIGN-CEDEAR   VRSN AR         1,820.1    (1,400.3)     231.3
VIVINT SMART HOM  VVNT US         2,829.9    (1,404.9)    (218.0)
WARNER MUSIC-A    WMG US          6,148.0       (21.0)    (943.0)
WARNER MUSIC-A    WMGEUR EU       6,148.0       (21.0)    (943.0)
WARNER MUSIC-A    WA4 GZ          6,148.0       (21.0)    (943.0)
WARNER MUSIC-A    WA4 GR          6,148.0       (21.0)    (943.0)
WARNER MUSIC-A    WMG AV          6,148.0       (21.0)    (943.0)
WARNER MUSIC-A    WA4 TH          6,148.0       (21.0)    (943.0)
WATERS CORP       WAZ TH          2,648.3      (191.7)     572.1
WATERS CORP       WAT US          2,648.3      (191.7)     572.1
WATERS CORP       WAZ GR          2,648.3      (191.7)     572.1
WATERS CORP       WAT* MM         2,648.3      (191.7)     572.1
WATERS CORP       WAZ QT          2,648.3      (191.7)     572.1
WATERS CORP       WATEUR EU       2,648.3      (191.7)     572.1
WAYFAIR INC- A    W US            4,379.5      (787.4)     595.6
WAYFAIR INC- A    W* MM           4,379.5      (787.4)     595.6
WAYFAIR INC- A    1WF GZ          4,379.5      (787.4)     595.6
WAYFAIR INC- A    1WF QT          4,379.5      (787.4)     595.6
WAYFAIR INC- A    1WF GR          4,379.5      (787.4)     595.6
WAYFAIR INC- A    1WF TH          4,379.5      (787.4)     595.6
WAYFAIR INC- A    WEUR EU         4,379.5      (787.4)     595.6
WESTERN UNIO-BDR  WUNI34 BZ       8,707.0       (73.4)    (290.8)
WESTERN UNION     W3U GR          8,707.0       (73.4)    (290.8)
WESTERN UNION     WU US           8,707.0       (73.4)    (290.8)
WESTERN UNION     W3U TH          8,707.0       (73.4)    (290.8)
WESTERN UNION     WU* MM          8,707.0       (73.4)    (290.8)
WESTERN UNION     W3U SW          8,707.0       (73.4)    (290.8)
WESTERN UNION     WUEUR EU        8,707.0       (73.4)    (290.8)
WESTERN UNION     W3U GZ          8,707.0       (73.4)    (290.8)
WESTERN UNION     W3U QT          8,707.0       (73.4)    (290.8)
WHITING PETROLEU  WLL* MM         3,732.2      (178.3)    (478.8)
WIDEOPENWEST INC  WOW US          2,494.7      (246.8)     (90.6)
WIDEOPENWEST INC  WU5 TH          2,494.7      (246.8)     (90.6)
WIDEOPENWEST INC  WU5 GR          2,494.7      (246.8)     (90.6)
WIDEOPENWEST INC  WOW1EUR EU      2,494.7      (246.8)     (90.6)
WIDEOPENWEST INC  WU5 QT          2,494.7      (246.8)     (90.6)
WINGSTOP INC      WING1EUR EU       201.1      (192.7)      19.9
WINGSTOP INC      WING US           201.1      (192.7)      19.9
WINGSTOP INC      EWG GR            201.1      (192.7)      19.9
WINMARK CORP      GBZ GR             31.6       (18.6)       0.5
WINMARK CORP      WINA US            31.6       (18.6)       0.5
WORKHORSE GROUP   WKHSEUR EU         44.2       (22.0)     (15.0)
WORKHORSE GROUP   WKHS US            44.2       (22.0)     (15.0)
WORKHORSE GROUP   1WO TH             44.2       (22.0)     (15.0)
WORKHORSE GROUP   1WO GZ             44.2       (22.0)     (15.0)
WORKHORSE GROUP   1WO GR             44.2       (22.0)     (15.0)
WW INTERNATIONAL  WW US           1,469.5      (645.5)     (93.7)
WW INTERNATIONAL  WW6 GR          1,469.5      (645.5)     (93.7)
WW INTERNATIONAL  WW6 TH          1,469.5      (645.5)     (93.7)
WW INTERNATIONAL  WW6 GZ          1,469.5      (645.5)     (93.7)
WW INTERNATIONAL  WTW AV          1,469.5      (645.5)     (93.7)
WW INTERNATIONAL  WTWEUR EU       1,469.5      (645.5)     (93.7)
WW INTERNATIONAL  WW6 QT          1,469.5      (645.5)     (93.7)
WYNDHAM DESTINAT  WYND US         7,597.0    (1,050.0)   1,308.0
WYNDHAM DESTINAT  WD5 GR          7,597.0    (1,050.0)   1,308.0
WYNDHAM DESTINAT  WD5 TH          7,597.0    (1,050.0)   1,308.0
WYNDHAM DESTINAT  WD5 QT          7,597.0    (1,050.0)   1,308.0
WYNDHAM DESTINAT  WYNEUR EU       7,597.0    (1,050.0)   1,308.0
XPRESSPA GROUP I  V9G TH             29.2        (3.7)     (10.7)
XPRESSPA GROUP I  V9G GR             29.2        (3.7)     (10.7)
XPRESSPA GROUP I  XSPA US            29.2        (3.7)     (10.7)
XPRESSPA GROUP I  V9G QT             29.2        (3.7)     (10.7)
XPRESSPA GROUP I  V9G GZ             29.2        (3.7)     (10.7)
XPRESSPA GROUP I  FHEUR EU           29.2        (3.7)     (10.7)
YRC WORLDWIDE IN  YRCW US         1,936.6      (466.9)      57.0
YUM! BRANDS -BDR  YUMR34 BZ       6,421.0    (8,108.0)     923.0
YUM! BRANDS INC   TGR TH          6,421.0    (8,108.0)     923.0
YUM! BRANDS INC   TGR GR          6,421.0    (8,108.0)     923.0
YUM! BRANDS INC   YUM* MM         6,421.0    (8,108.0)     923.0
YUM! BRANDS INC   YUM US          6,421.0    (8,108.0)     923.0
YUM! BRANDS INC   YUMUSD SW       6,421.0    (8,108.0)     923.0
YUM! BRANDS INC   TGR GZ          6,421.0    (8,108.0)     923.0
YUM! BRANDS INC   YUM AV          6,421.0    (8,108.0)     923.0
YUM! BRANDS INC   TGR TE          6,421.0    (8,108.0)     923.0
YUM! BRANDS INC   YUMEUR EU       6,421.0    (8,108.0)     923.0
YUM! BRANDS INC   TGR QT          6,421.0    (8,108.0)     923.0
YUM! BRANDS INC   YUM SW          6,421.0    (8,108.0)     923.0



                            *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

TCR subscribers have free access to our on-line news archive.
Point your Web browser to http://TCRresources.bankrupt.com/and use
the e-mail address to which your TCR is delivered to login.

                            *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,
Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
Fernandez, Christopher G. Patalinghug, and Peter A. Chapman, Editors.

Copyright 2020.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $975 for 6 months delivered via
e-mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Peter A.
Chapman at 215-945-7000.

                   *** End of Transmission ***