/raid1/www/Hosts/bankrupt/TCR_Public/200916.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Wednesday, September 16, 2020, Vol. 24, No. 259

                            Headlines

15005 NW: Unsecureds to be Paid in Full With Interest in Joint Plan
199 REALTY: Capodagli Buying Lodi Property for $10 Million
203 WYCKOFF: Wells Fargo Objects to Disclosure Statement
6709 GREENACRES: Hires Joel M. Aresty as Legal Counsel
ACADIAN CYPRESS: Home Bank Objects to Disclosure Statement

ADTALEM GLOBAL: Moody's Puts Ba3 CFR on Review for Downgrade
ADVANTAGE SALES: S&P Retains 'CCC+' ICR
AFFORDABLE AUTO REPAIR: Removes Offending Provision in Amended Plan
AFFORDABLE AUTO REPAIR: Unsecureds Will Get 4% or 8% in Plan
AIKIDO PHARMA: To Hold Its Annual Meeting on Nov. 17

AMERICARE-TENNESSEE: Taps Toni Campbell Parker as Legal Counsel
ARDEN HOLDINGS: Wins Confirmation of Plan
ASTROTECH CORP: Receives Noncompliance Notice from Nasdaq
BC CHALET: Voluntary Chapter 11 Case Summary
BILTMORE 24: Sept. 16 Hearing on Disclosure Statement

BJ SERVICES: Committee Hires Squire Patton as Legal Counsel
BSI LLC: Relstar Buying Cartersville Property for $800K Cash
CARVER BANCORP: Quinn Opportunity, et al. Report 6.8% Stake
CENTURY III MALL: Court Confirms Reorganization Plan
CHARM HOSPITALITY: Case Summary & 20 Largest Unsecured Creditors

CHENIERE ENERGY: Moody's Assigns Ba3 CFR, Outlook Stable
CONNECTING CULTURES: Seeks Use of Cash Collateral
CONSOLIDATED COMMUNICATIONS: Moody's Rates Sr. Secured Debt 'B2'
COVIA HOLDINGS: Unsecured Creditors Get Share of Equity Pool
CROSSCODE INC: Unsecured Claims Are Unimpaired in Plan

CURTIS JAMES JACKSON: Trial Unnecessary in Suit vs William Roberts
DIVERSITY ENTERPRISES: Case Summary & 8 Unsecured Creditors
DREAM BIG RESTAURANTS: Court Confirms Liquidating Plan
E.E. HOOD: Sets Bidding Procedures for Substantially All Assets
ENCINO ACQUISITION: Fitch Cuts LT IDR to 'B', Outlook Negative

ERNEST ENTERPRISES: Gets Court's CCAA Initial Order
FAIRWAY GROUP: Optium Buying Transferred Rights for $640K Cash
FC COMPASSUS: Moody's Alters Outlook on B3 CFR to Positive
FLORIDA FIRST: HOO Buying All Assets of First Florida for $2M
FOXFIRE CONSOLIDATED: Seeks Approval to Hire Real Estate Broker

GCI LLC: Moody's Rates Proposed $900MM Credit Facility 'Ba2'
GENERAL CANNABIS: Appoints New Chief Financial Officer
GROWLERU FRANCO: Unsecureds to Get 7.3% of Their Claims in Plan
GUARDION HEALTH: John Townsend Quits as Controller & CAO
HARTSHORNE HOLDINGS: $435K Private Sale of Assets to Castlen Okayed

HENLEY PROPERTIES: Pham Buying 34-Acre Goodman Vacant Land for $70K
HIGHLAND SALON: Unsecureds Will be Paid 100% Without Interest
HILLJE MUSIC: Unsecureds Will Get 7.8% of Their Claims in Plan
HOLOGIC INC: Moody's Rates New $950MM Unsec. Notes Due 2029 'Ba2'
HOPE ACADEMY: Fitch Affirms 'B' Issuer Default Rating

HUBBARDS CABINS: Seeks to Use Cash Collateral
HUNT COMMUNICATIONS: Unsecureds Will be Paid 50% of Net Profit
IAA INC: S&P Affirms 'BB-' Issuer Credit Rating; Outlook Stable
IQOR HOLDINGS: S&P Downgrades ICR to 'D' on Chapter 11 Filing
IQOR RECEIVABLES: Case Summary & 30 Largest Unsecured Creditors

JAMES MEDICAL: US Trustee Objects to Disclosure Statement
JASON INDUSTRIES: 2nd Lien Committee Says Plan Can't Be Confirmed
JLK INDUSTRIES: Unsecureds to Get 5% of Their Claims in Plan
JOHN GREG BURNETTE: Selling 2019 Dynamax ISATA 5 30FW for $141K
KAREN ALLSUP: Seeks to Hire Dean W. Greer as Legal Counsel

KB US HOLDINGS: TLI Buying Substantially All Assets for $75 Million
LIVING EPISTLES: Sept. 24 Hearing on $350K Milwaukee Property Sale
LUCKY'S MARKET: ALDI Buying Cape Coral Lease & Clearwater Lease
MARINER SEAFOOD: Case Summary & 20 Largest Unsecured Creditors
MATCHBOX FOOD: Hires Veritas Law Firm as Corporate Counsel

MEDCOAST MEDSERVICE: Winn and CNG to Get Ownership in Plan
MICHAELS COS: S&P Affirms 'B' ICR, Alters Outlook to Positive
NEW HILLCREST: Case Summary & 3 Unsecured Creditors
NEW RESIDENTIAL INVESTMENT: S&P Assigns 'B' ICR; Outlook Negative
NEWS-GAZETTE: Unsecured Creditors to Split $250,000 in Plan

NIELSEN FINANCE: S&P Rates New Senior Unsecured Notes 'BB-'
OLB GROUP: Daszkal Bolton Replaces Marcum as Accountant
OMNITRACS HOLDINGS: S&P Downgrades ICR to 'B-'; Outlook Stable
OTTO J. SIMMANK: Texas SN Buying Houston Property for $2.9 Million
PARK HEIGHT'S: Tenant Buying Baltimore Property for $175K

PDC ENERGY: S&P Affirms BB Long-Term ICR, Alters Outlook to Stable
PLATINUM GROUP: Lion Granted US Patent for its Battery Technologies
PLUM CIRCLE: Trustee Hires Oscher Consulting as Accountant
PM GENERAL: Moody's Assigns B2 CFR, Outlook Stable
PROUSYS INC: Unsecureds Will be Paid 16.5% to 26.9% of Claims

QUICKEN LOANS: S&P Rates Senior Unsecured Notes 'BB'
QUOTIENT LIMITED: Expects to Receive $80.5M from Stock Offering
RAYSHAWN L. ROBINSON: $525K Sale of Glenn Dale Property Approved
REMARK HOLDINGS: Weinberg Replaces Cherry Bekaert as Accountant
REMINGTON OUTDOOR: Appointment of Retirees Committee Sought

RITORI LLC: Monster Buying Chesapeake Beach Property for $3.1M
ROBERT D. SPARKS: Wares Buying State Line Place for $108K
ROBERT F. TAMBONE: $185K Sale of 2017 Grady White Boat Approved
ROCK CREEK: Unsecureds Will be Paid From Available Plan Cash
SD HOLDINGS: Mod Pizza Buys 13 Franchised NC Locations

SEAWALK INVESTMENTS: Files Supplement to Disclosure Statement
SHEA HOMES: Moody's Rates New $300MM Unsecured Notes Due 2029 'B1'
SILICON HILLS CAMPUS: Court Stays Tuebor REIT's 2nd Amended Suit
SILVER LAKES: $2.02M Sale of Helendale Property to Presto Approved
SIMPLY ESSENTIALS: Seeks to Hire AgVisory as Appraiser

SITEONE LANDSCAPE: Moody's Hikes CFR to Ba3, Outlook Stable
SOAPTREE HOLDINGS: Says Plan Feasible and Confirmable
STATION CASINOS: S&P Affirms 'B+' ICR; Ratings Off Watch Negative
STEPHEN GOLDBERG: Allens Buying Clarksville Property for $1.5M
STEPSTONE GROUP: S&P Puts BB ICR on Watch Positive on Expected IPO

STORAGE MEDIA: Hires Small Law as Local Bankruptcy Counsel
STORAGE MEDIA: Seeks to Hire Michael Lupolover as Legal Counsel
SYLVAIN LAPOINTE: Foreign Rep Selling Bonita Springs Property
TALLGRASS ENERGY: S&P Rates New Senior Unsecured Notes 'BB-'
TEAM HEALTH: Fitch Cuts IDR to 'CCC+', Off Watch Negative

THOMAS HEALTH: Requests Status Conference for Beefed-Up Plan
THOMAS HEALTH: Unsecureds to Split $7M in Rosemawr-Funded Plan
TI GROUP: Moody's Rates $1.5BB Secured Credit Facilities 'B1'
TIME DEFINITE: Unsecureds Get 20 Quarterly Distributions of $7,500
TMK HAWK: S&P Downgrades ICR to 'CCC'; Outlook Negative

TOWN SPORTS: Case Summary & 30 Largest Unsecured Creditors
TREESIDE CHARTER: Court Confirms Plan of Reorganization
TRIVASCULAR SALES: Committee Says Plan Patently Unconfirmable
TRIVASCULAR SALES: Unsec. Creditors to Get $2 Million in Plan
UNIFIED PROTECTIVE: Unsecureds Will Get 1% of Their Claims

UNIT CORPORATION:Claims Paid From Cash on Hand, DIP/Exit Facilities
UNITED CANVAS: Gets Interim OK to Hire ABTV to Manage Operations
VERNON MEMORIAL HOSPITAL: S&P Alters Outlook to Stable
VIVO ENERGY: S&P Affirms 'BB+' Long-Term Issuer Credit Rating
WABASH NATIONAL: S&P Lowers ICR to 'B+'; Outlook Stable

WASTEQUIP LLC: S&P Alters Outlook to Negative, Affirms 'B' ICR
WEEKLEY HOMES: S&P Rates New $400MM Senior Unsecured Notes 'BB-'
WELLS ENTERPRISES: S&P Downgrades ICR to 'B+'; Outlook Stable
WHEEL PROS: Moody's Alters Outlook on B3 CFR to Stable
YUM! BRANDS: S&P Rates New $1.05BB Senior Unsecured Notes 'B+'


                            *********

15005 NW: Unsecureds to be Paid in Full With Interest in Joint Plan
-------------------------------------------------------------------
15005 NW Cornell LLC; and Vahan M. Dinihanian, Jr. filed with the
U.S. Bankruptcy Court for the District of Oregon a Joint Disclosure
Statement and Joint Plan of Reorganization dated July 31, 2020.

The Plan provides that Debtors will operate in the ordinary course
and will obtain financing to pay and satisfy their obligations in
full.

All General Unsecured Creditors will be paid in full, together with
interest at the federal judgment rate in effect on the Effective
Date, from and after the Effective Date, not later than six months
after the Effective Date.

The Plan provides that existing equity interests in NW Cornell,
including that of the Sonja Dinihanian GST Trust DTS 1/1/11, will
be left in place. The Plan provides that Dinihanian will retain his
interests in assets of his bankruptcy estate.

The Debtors will obtain the funds to pay Claims through borrowing
under the Plan Loan. A condition of the Plan Loan is Debtors’
obligation to complete or otherwise resolve the partition
litigation pending in Washington County or, in consultation with
the Plan Lender, the Debtors’ determination that completion of
the partition litigation is not practicable within a reasonable
time and the Debtors should pursue, through a reservation of
jurisdiction by this Court, the sale of the entire Cornell
Property.

A full-text copy of the Joint Disclosure Statement dated July 31,
2020, is available at https://tinyurl.com/y4docnhj from
PacerMonitor at no charge.

Attorneys for Vahan M. Dinihanian, Jr.:

        Nicholas J. Henderson
        MOTSCHENBACHER & BLATTNER, LLP
        117 SW Taylor St., Suite 300
        Portland, OR 97204
        Telephone: (503) 417-0508
        Facsimile: (503) 417-0528
        E-mail: nhenderson@portlaw.com

Attorneys for 15005 NW:

        Douglas R. Pahl
        PERKINS COIE LLP
        1120 N.W. Couch Street, 10th Floor
        Portland, OR 97209-4128
        Telephone: 503.727.2000
        Facsimile: 503.727.2222
        E-mail: DPahl@perkinscoie.com

                     About 15005 NW Cornell

15005 NW Cornell LLC and its owner Vahan Megar Dinihanian, Jr.,
sought Chapter 11 protection (Bankr. D. Ore. Case Nos. 19-31883 and
19-31886) on May 21, 2019.

Vahan Megar Dinihanian Jr. is an individual who owns and operates
multiple business entities, including several entities that own and
lease commercial real estate, a floral products business, and
entities that provide engineering and consulting services.
Dinihanian's principal business is operating Eagle Holdings, LLC,
which owns other real estate-centered entities.

NW Cornell's primary asset is its 50 percent tenant-in-common
ownership interest is 37 acres of undeveloped real property located
at 15005 NW Cornell Road, Beaverton, Oregon. 15005 NW Cornell LLC,
based in Beaverton, OR, was estimated to have $10 million to $50
million in assets and $1 million to $10 million in liabilities as
of the bankruptcy filing.

The Hon. Trish M. Brown oversees the cases.

15005 NW Cornell tapped Douglas Pahl, a partner of Perkins Coie
LLP, as bankruptcy counsel.  Motschenbacher & Blattner LLP is
Dinihanian's general bankruptcy counsel.


199 REALTY: Capodagli Buying Lodi Property for $10 Million
----------------------------------------------------------
199 Realty Corp., asks the U.S. Bankruptcy Court for the District
of New Jersey to authorize the private sale of the vacant
industrial building located at 199 Garibaldi Avenue, Lodi, New
Jersey, referenced as Block 224, Lot 1 on the tax maps for the
Borough of Lodi, New Jersey, to Capodagli Property Co., LLC for $10
million.

Lawrence S. Berger, president of the Debtor, certifies that as
referenced in the Debtor’s schedules of assets and liabilities
filed on April 5, 2013, the Property is subject to outstanding tax
sale certificates and unpaid prepetition real estate taxes
aggregating approximately $2.2 million.  The Property may also be
subject to outstanding post-petition tax sale certificates and
unpaid real estate taxes aggregating in the range of $250,000.  The
Schedules further provide that the unsecured claims total
$2,652,110, including insider claims, which total approximately
$1.6 million.

These amounts are derived from proofs of claim filed by the Sass
Muni B and Hot Bird Properties and the Scheduled amounts for the
unsecured claims.  The secured claims may have increased in amounts
by post-petition accruals.  The amounts do not include any accrued
post-petition administrative expense claims.  The 199 Realty Debtor
has contested the claims of Sass Muni B and Hot Bird.  The 199
Realty Debtor retains the right to object to the unsecured claims.
As of the Petition Date, the value of the Property was unknown
because the Property is the subject of an environmental cleanup.

On Dec. 10, 2014, the 199 Realty Debtor commenced an adversary
proceeding against Hot Bird and Sass Muni B.  On Aug. 25, 2016, the
Debtor filed its Sass Settlement Motion to approve a settlement
with Sass.  On Sept. 29,2017, the Debtor submitted a revised
proposed consent order relating to the Sass Settlement.  The Sass
Settlement Motion has not been decided.

The Sass Settlement resolves and/or provides the following: (a) the
199 Realty Sass Litigation will be dismissed; (b) the claim of Hot
Bird and Sass Muni B will be fixed; (c) a payment term for Hot Bird
and Sass Muni B is agreed upon, which includes no accrual of
interest for a year, interest accrual thereafter of at 12% (not
18%) only on the principal portion of the claim.

Since the filing of the Sass Settlement Motion, the Debtor, Carl
Weber Green Properties, LLC and Sass have worked out a further
agreement relating, in part, to the disbursement of the Excess
Proceeds, which includes a payment of $847,000 to Sass and further
sets forth the application of the payment to the agreed amount of
Sass' claim.

On Jan. 12, 2015, the Debtor commenced the Insurance Carriers
Adversary Proceeding asking a declaratory judgment that certain
general liability insurance policies provide coverage for the
remediation of environmental contamination on the 199 Realty
Property, and that the Policies provide indemnification for the
defense of its environmental liabilities arising therefrom.

On July 14, 2017, the NJDEP filed a motion to bar approval of any
settlements with the Insurance Carriers unless the funds were
placed in an Environmental Remediation Trust.  It also requested
the appointment of a chapter 11 trustee.  The Debtor opposed the
motion.   In addition, on Oct. 12, 2017, the NJDEP issued an
Administrative Order and Notice of Civil Administrative Penalty
Assessment and Notice to Insurers.  Due to the mediation, the OAL
Proceeding has been adjourned on several occasions. The OAL
Proceeding and NJDEP's alleged administrative expense claim have
been resolved as part of the Debtor's settlements with the NJDEP.

At hearings, the Court suggested that the parties attempt to
resolve the issues relating to the Sass Settlement, the Insurance
Carriers Adversary, the dispute with the NJDEP and the use of any
insurance settlement proceeds through mediation.  The parties
agreed to proceed with mediation of the entire Chapter 11 Case
before Judge Kaplan, which mediation proceeded from November 2017
until the settlements with the NJDEP and the Settling Insurers,
were achieved.

The mediation has concluded with the Debtor's settlements with the
NJDEP, which will (i) provide monies from insurance settlement
proceeds to pay into a remediation trust fund for the remediation
of the Property, with the removal of drums buried on the Property
being the initial priority; (ii) allow for the sale of the
Property; (iii) resolution of the OAL Proceeding; and (iv) provide
monies from insurance settlement proceeds to pay administration
costs of the estate and other sums as the Court may direct and
approve.

Also, the mediation has concluded with the Debtor's settling with
certain of the Insurance Carriers, namely Safety, ACE P&C, the AIG
Member Companies, Wausau, North River, and NJPLIGA, which
settlements would result in $5,497,000 of which $4 million would be
for the remediation of the Property.  The remaining proceeds of
$1,497,000 would be disbursed with $150,000 being used to obtain a
release from Interplast and the remainder of will be used to pay
$400,000 to the Debtor's counsel, pay an additional retainer of
$100,000 to the LSRP and pay $847,000 to Sass.

As of the date of the Motion, the Debtor has not settled with
Gibraltar Plastics Corp., the former tenant at the Property, and
the Debtor intends to pursue Gibraltar on confirmation of a plan.

On Aug. 17, 2020, the Debtor filed two motions for the approval of
its settlements with the Settling Insurers and the NJDEP and
further for approval of the disbursement of the Settlement Proceeds
as set forth in the two motions.  The hearing date on these motions
is anticipated to be Sept. 22, 2020.

During the pendency of the mediation, the Debtor engaged in
negotiations with Meridia Lodi, LLC, an affiliate of Capodagli to
buy the Property.  On Aug. 17, 2020, the Debtor executed an
Agreement for the Purchase of Real Property with Capodagli for the
purchase of the Property for a purchase rice of $10 million "as is"
subject to Court approval.  The Debtor has filed the Motion to
obtain Court authorization to proceed with the sale to the
Purchaser pursuant to Section 363 of the Bankruptcy Code.

The Sale Agreement provides that Ryno Marketing Group, Inc. is the
broker and will be paid by the Seller pursuant to a separate
agreement provided the Election Right properly exercised and the
Closing occurs.  It is a private sale and the Debtor will not be
entertaining, and the sale will not be subject to, any auction
process, or any higher or better offers.

The sale proceeds are sufficient to satisfy the Sass claim as
reduced by its receipt of a portion of the Excess Proceed, any
outstanding real estate taxes, and claims held by general unsecured
creditors.  The sale proceeds will also result in a significant
distribution to equity.  The Debtor intends on modifying its First
Modified Plan of Reorganization to provide for the various
settlements and the sale of the Property as the cornerstone for
obtaining acceptances from creditors.

A hearing on the Motion is set for Sept. 22, 2020 at 11:00 a.m.
Objections, if any, must be filed at least seven days before the
hearing date of the Motion.

A copy of the Agreement is available at
https://tinyurl.com/yxn5maum from PacerMonitor.com free of charge.

                      About 199 Realty Corp.

199 Realty Corp. filed a Chapter 11 petition (Bankr. D.N.J. Case
No. 13-14776) on March 7, 2013, and is represented by Morris S.
Bauer, Esq., in Bridgewater, New Jersey.  In the petition signed by
Lawrence S. Berger, president, the Debtor estimated $1 million to
$10 million in assets and debt.


203 WYCKOFF: Wells Fargo Objects to Disclosure Statement
--------------------------------------------------------
Wells Fargo Bank, N.A., filed an objection to 203 Wyckoff Holdings
LLC's Disclosure Statement.

Wells Fargo points out that the Disclosure Statement places Wells
Fargo into its own impaired class (Class I) and seeks to pay the
claim as a secured claim in the amount of $700,000 to be paid over
30 years at 3% and pay the balance as unsecured.  This does not
reflect what Wells Fargo was owed as of the Petition Date.

Wells Fargo asserts that nowhere in the Disclosure Statement is
there any assurance that the Debtor's principal has these funds
available and yet Wells Fargo is being asked to forego payment for
at a minimum six months from confirmation (or as long as two years)
for payments dependent on the rehabilitation and rental of the
Rental of the Real Property.

Wells Fargo complains that a review of the real property records in
ACRIS indicate there is a Collateral Assignment of Leases and Rents
agreement between Debtor and Continental Capital Group, LLC who
holds two mortgages on the Real Property.  Although the Disclosure
Statement indicates Continental Capital Group, LLC, will be treated
as wholly unsecured, there is no mention of the Collateral
Assignment of Leases and Rents and it has not been rejected to
date.

According to Wells Fargo, the Debtor has made not commenced
adequate protection payments nor has Debtor filed a Disclosure
Statement and Plan a that has a reasonable possibility of being
confirmed within a reasonable time.

Wells Fargo points out that in light of the foregoing deficiencies,
the Amended Disclosure Statement is insufficient to establish
"adequate information" as set forth in U.S.C. 1125.

Attorneys for Wells Fargo Bank, N.A.:

     Michelle C. Marans, Esq.
     FRENKEL, LAMBERT, WEISS,
     WEISMAN & GORDON, LLP
     53 Gibson Street
     Bay Shore, New York 1 1706
     Tel: (631) 969-3100

                  About 203 Wyckoff Holdings

203 Wyckoff Holdings, LLC is a single asset real estate debtor (as
defined in 11 U.S.C. Section 101(51B)).  203 Wyckoff Holdings
sought protection under Chapter 11 of the Bankruptcy Code (Bankr.
E.D.N.Y. Case No. 20-40766) on Feb. 5, 2020.  At the time of the
filing, Debtor had estimated assets of between $500,000 and $1
million and liabilities of between $1 million and $10 million.
Judge Carla E. Craig oversees the case.  The Debtor has tapped
Terenzi & Confusione, P.C., as its legal counsel.


6709 GREENACRES: Hires Joel M. Aresty as Legal Counsel
------------------------------------------------------
6709 Greenacres Florida LLC seeks authority from the U.S.
Bankruptcy Court for the Southern District of Florida to employ
Joel M. Aresty, P.A. as its legal counsel.

The services that will be provided by the firm are as follows:

     (a) advise Debtor with respect to its powers and duties and
the continued management of its business operations;

     (b) advise Debtor with respect to its responsibilities in
complying with the U.S. Trustee's Operating Guidelines and
Reporting Requirements and with the rules of the court;

     (c) prepare legal documents;

     (d) represent Debtor in negotiation with its creditors in the
preparation of a Chapter 11 plan; and

     (e) protect the interest of Debtor in all matters pending
before the court.

The firm will be paid an hourly fee of $440 and will be reimbursed
for work-related costs.  The retainer fee is $3,500.

Joel Aresty, Esq., disclosed in court filings that he is a
"disinterested person" within the meaning of Section 101(14) of the
Bankruptcy Code.

The attorney can be reached at:

     Joel M. Aresty, Esq.
     Joel M. Aresty, P.A.
     309 1st Ave S
     Tierra Verde FL 33715
     Telephone: (305) 904-1903
     Facsimile: (800) 899-1870
     Email: Aresty@Mac.com

                       About 6709 Greenacres

6709 Greenacres Florida, LLC sought protection under Chapter 11 of
the Bankruptcy Court (Bankr. S.D. Fla. Case No. 20-18663) on Aug.
11, 2020, listing under $1 million in both assets and liabilities.
Judge A. Jay Cristol oversees the case.  Joel M. Aresty P.A. serves
as Debtor's legal counsel.


ACADIAN CYPRESS: Home Bank Objects to Disclosure Statement
----------------------------------------------------------
Home Bank, N.A., objects to the Disclosure Statement filed by
Acadian Cypress & Hardwoods, Inc.

According to Home Bank, at the onset, it is noted that the debtor
has failed to set forth an estimate on what the administrative
expenses might be.

Home Bank asserts that the debtor has indicated that Home Bank's
secured claim will be paid, in part, by one-half of the net
proceeds of a flood insurance claim, information of which flood
insurance is not set forth in the Disclosure Statement.

Home Bank points out that there is no exact date as to when the
effective date of the plan will be.

Home Bank complains that the Disclosure Statement also contemplates
rejection of executory contracts.

Home Bank also objects to the Disclosure Statement insofar as it
requires creditors to stand down in collection efforts against
third parties upon confirmation of the plan.

Counsel for Home Bank, N.A.:

     CLAY J. LEGROS
     NEWMAN, MATHIS, BRADY & SPEDALE
     3501 N. Causeway Blvd., Ste. 300
     Metairie, Louisiana 70002
     Telephone (504) 837-9040

                    About Acadian Cypress

Acadian Cypress & Hardwoods, Inc. --
http://www.acadianhardwoods.net/-- manufactures lumber, plywood,
siding, shingles, flooring, fencing and molding profiles.  

Acadian Cypress sought Chapter 11 protection (Bankr. E.D. La. Case
No. 19-12205) on April 15, 2019.  In the petition signed by Frank
Vallot, president, the Debtor was estimated to have assets and
liabilities ranging from $1 million to $10 million. Judge Jerry A.
Brown oversees the case.  The Debtor tapped Heller, Draper,
Patrick, Horn & Manthey, LLC as its legal counsel, and Raizner
Slania LLP as its special counsel.


ADTALEM GLOBAL: Moody's Puts Ba3 CFR on Review for Downgrade
------------------------------------------------------------
Moody's Investors Service placed Adtalem Global Education Inc.'s
Ba3 Corporate Family Rating, B1-PD Probability of Default Rating
(PDR) and Ba3 senior secured ratings on review for downgrade
following the company's recent announcement that it has entered
into a definitive agreement to acquire Walden University from
Laureate Education for approximately $1.48 billion in cash. The
company's SGL-1 Speculative Grade Liquidity rating remains
unchanged.

Following is a summary of the rating actions:

Ratings on Review for Downgrade:

Issuer: Adtalem Global Education Inc.

Corporate Family Rating, Placed on Review for Downgrade, currently
Ba3

Probability of Default Rating, Placed on Review for Downgrade,
currently B1-PD

$300 Million Senior Secured First-Lien Revolving Credit Facility
due 2023, Placed on Review for Downgrade, currently Ba3 (LGD3)

$300 Million ($294 Million outstanding) Senior Secured First-Lien
Term Loan B due 2025, Placed on Review for Downgrade, currently Ba3
(LGD3)

Outlook Actions:

Outlook, Changed to Rating Under Review from Stable

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

The review was triggered by Adtalem's agreement to purchase
Baltimore, MD-based Walden University, a leading online healthcare
education provider offering bachelor's, master's and doctoral
degrees to more than 53,000 students across all 50 states and over
160 countries. Walden is the leading nursing school in the US and
specializes in graduate degree programs. Though healthcare and
behavioral sciences account for the bulk of its approximate $600
million in annual revenue, Walden also offers programs in
management, technology and education.

The $1.48 billion purchase price values the business at a
pre-synergy multiple of approximately 8.4x LTM 6/30/20 EBITDA (6.2x
post-synergies). Adtalem has arranged $2.05 billion of committed
financing (i.e., $1.65 billion first-lien term loan B and senior
secured notes and $400 million revolving credit facility), which
will be used with cash balances to fund the purchase price and
repay its existing credit facilities. With pro forma gross debt
increasing nearly sixfold, Moody's projects the transaction will
elevate Adtalem's financial leverage above the 2.75x downgrade
threshold to around 4.3x total debt to EBITDA (Moody's adjusted,
pro forma for the inclusion of Walden's LTM EBITDA) from 2x as of
30 June 2020. Should the combined company demonstrate an ability to
sustain leverage close to the 4x area through the cycle, Moody's
expects that any downgrade of Adtalem's CFR is likely to be limited
to one notch. To the extent the existing credit facilities are
fully repaid and extinguished at closing, Moody's will withdraw
those instrument ratings.

The transaction is expected to close in the July-September 2021
quarter (Adtalem's first quarter of fiscal 2022), subject to
approvals from the Department of Education (DOE), regulatory
authorities and other closing conditions. Given the lengthy
examination by the DOE and regulators, Moody's expects to conclude
the review at or near the timing of the transaction close or debt
raise.

Moody's review will focus on the: (i) pro forma financial leverage
and future cash flow generating capacity of the combined company,
as well as the financial and capital allocation policies and
medium-term financial targets; (ii) complementary nature of the
Walden asset with Adtalem's medical and healthcare education
business and how Walden will position Adtalem to capture the
expected growth in nursing education and online learning markets;
(iii) business profile of the combined company in terms of
operational diversity, degree mix, program mix and geographic
reach; (iv) integration and execution risks associated with the
acquisition; (v) regulatory risks, including the increased
dependence on Title IV funding and expected deterioration of
Adtalem's financial responsibility score as a result of the
acquisition; (vi) timing for realization of potential cost
synergies arising from the Walden integration as well as revenue
synergies between the two companies and plans to improve operating
margins in the financial services segment; and (vii) combined
entity's liquidity with respect to free cash flow generation given
the higher interest expense burden from the increased debt load and
potential uses of free cash flow for the resumption of share
repurchases.

Adtalem's credit profile considers the company's strong market
position and solid historical financial performance within its
for-profit medical and healthcare education segment while operating
in a challenging higher education regulatory environment and
actively pursuing M&A opportunities. As a result of the coronavirus
pandemic and economic recession, the company is also facing certain
operating restrictions that have impacted in-person live
conferences and suspended clinical rotations as well as the
potential to slow student enrollment growth. Over the last several
years, the company has repositioned its portfolio of schools by
divesting non-core assets and acquiring faster growth education
assets in areas such as healthcare, continuing and professional
education (e.g., anti-money laundering, compliance, finance and
accounting) and online learning.

Moody's believes the Walden acquisition will enhance Adtalem's
scale, strengthen its graduate and post-graduate degree mix,
increase program diversification and bolster the fast-growth
medical and healthcare segment, particularly in the area of nursing
where the combined company will be a #1 or #2 provider across a
spectrum of nursing programs. The acquisition will also increase
Adtalem's online offerings and capabilities, chiefly in health
sciences, which could be a material competitive advantage during
the coronavirus outbreak. While the company expects to achieve
roughly $60 million of run-rate cost synergies in the second year
after close, one-time cash costs to achieve future cost savings are
also projected at $60 million, which will offset realized savings
over the short-run, limiting cash EBITDA growth.

Though Adtalem has successfully integrated past acquisitions, the
Walden purchase represents the company's largest acquisition to
date and poses certain integration and execution risks due the
transformative nature and scope of the transaction. Given Walden's
size and its declining enrollment trends over the past several
years, combined with heightened regulatory risks and increased
financial leverage associated with the transaction, the acquisition
could present bandwidth challenges for management and divert
attention from the existing portfolio, potentially increasing
operational performance risk that could lead to volatile credit
metrics and/or delayed deleveraging.

Moody's expects Adtalem will maintain very good liquidity (SGL-1
Speculative Grade Liquidity) over the next 12 months supported by
sizable cash balances (cash totaled $501 million at 30 June 2020)
and solid free cash flow generation. The company's existing $300
million revolver ($231.6 million available) is expected to remain
in place until the transaction closes.

The rapid spread of the coronavirus outbreak, deteriorating global
economic outlook, low oil prices, and high asset price volatility
have created an unprecedented credit shock across a range of
sectors and regions. Moody's regards the coronavirus outbreak as a
social risk under its ESG framework, given the substantial
implications for public health and safety. Given Adtalem's exposure
to the US and overseas economies as well as consumer spending, the
company remains vulnerable to restrictions imposed on its
operations and shifts in market demand and consumer sentiment in
these unprecedented operating conditions.

Given the review for downgrade, an upgrade is highly unlikely over
the near term. Prior to the downgrade review, the factors that
could lead to a downgrade include: (i) higher financial leverage
sustained above 2.75x (Moody's adjusted); (ii) substantial
challenges of any potential acquired asset integration; (iii)
sustained enrollment declines or operating profit deterioration in
the medical and healthcare segment (Adtalem's largest segment); or
(iv) unanticipated regulatory challenges that could result in
sizeable litigation expenses, ineligibility for Title IV funding or
removal of accreditation. Ratings could also be downgraded if there
is meaningful deterioration in liquidity.

Headquartered in Chicago, Illinois, Adtalem Global Education Inc.
is a global provider of educational services with a focus on
Medical and Healthcare and Financial Services. The company operates
seven educational institutions across the US and Caribbean. Revenue
totaled just over $1 billion for the fiscal year ended June 30,
2020.

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


ADVANTAGE SALES: S&P Retains 'CCC+' ICR
---------------------------------------
S&P Global Ratings retained all of its ratings, including its
'CCC+' issuer credit rating on U.S.-based Advantage Sales &
Marketing Inc. (ASM) and parent, Advantage Solutions Inc., on
CreditWatch, but revised the implications to positive from
developing. This indicates S&P could raise the rating if the merger
agreement with Conyers Park II Acquisition Corp. is successfully
completed. S&P placed the ratings on CreditWatch with developing
implications April 8, 2020.

ASM has entered into a merger agreement with Conyers Park II
Acquisition Corp., a publicly traded special purpose acquisition
company. The transaction will include $450 million in previously
raised equity capital by Conyers Park, a new $700 million common
stock private placement, and up to $2.5 billion in new debt
financing.

A large portion of transaction proceeds will be used to repay ASM's
debt and should meaningfully improve its credit measures.

"The revised CreditWatch implications to positive from developing
reflects we could raise the ratings following our review," S&P
said.

The proposed transaction addresses ASM's approaching debt
maturities and will substantially strengthen credit metrics. S&P
expects leverage could improve to the 5x area from above 7x for the
12 months ended June 30, 2020.

"Post transaction, we believe the existing financial sponsors will
maintain well over 60% ownership interest. While we expect ASM will
maintain lower leverage given its new status as a public company,
we also believe it will maintain an appetite for acquisitions that
could lead to credit metric deterioration," S&P said.

"A clearer understanding of financial policies going forward will
play a key role in the CreditWatch resolution," the rating agency
said.

Notwithstanding the expected credit metric improvement from debt
reduction, coronavirus headwinds could hurt profitability and limit
how much S&P raises the ratings. ASM's store sampling and events
marketing businesses were severely affected by lockdowns in the
early stages of the pandemic, and S&P expects a slow return to
pre-pandemic levels for these services. While the company has
benefited from steady operating performance from most of its sales
services businesses, this has only partly offset disruption in
sampling and marketing services.

Importantly, this transaction refinances around $2.5 billion of
first-lien term debt maturing in July 2021. Based on this large
current debt maturity, S&P could lower the rating to 'CCC' if
market conditions deteriorate and it no longer believes the company
can complete the transaction.

S&P will resolve the CreditWatch after receipt of additional
transaction details, further discussions with management regarding
financial policies under new ownership, and updating its base-case
forecast. Upon completion of its review, S&P could maintain the
ratings or raise them.


AFFORDABLE AUTO REPAIR: Removes Offending Provision in Amended Plan
-------------------------------------------------------------------
Affordable Auto Repair, Inc., submitted a response to the objection
of the United States Trustee to the Disclosure Statement describing
its Chapter 11 Plan Of Reorganization And Chapter 11 Plan.

A. Different treatment within a class is permissible under the
Bankruptcy Code.

According to Debtor, it is well established that a Chapter 11 Plan
proponent can include provisions within the Chapter 11 Plan that
treat creditors differently, with the difference determined by
whether the creditor supports or opposes the plan. The provisions
are commonly known in Chapter 11 parlance as the somewhat
sensationalistic term of a “death trap”. Provided the
provisions reward the supporters, as opposed to taking away a right
from those in opposition, deathtraps are entirely permissible.

The Debtor asserts that the court disagreed and found that the plan
did not violate Sec. 1123(a)(4), because all class members actually
did receive the same treatment.  In a written order issued on March
24, 2017, the court explicitly found that "the Plan provides the
same treatment by the Debtors for each Claim or Interest in any
particular Class...."  Why? Because they all had the same choice as
to what to do.  The court explained that a "death trap" provision
complies with Sec. 1123(a)(4) as long as all class members have the
same opportunity to receive equal treatment, even if some class
members end up receiving nothing as a result of declining the
opportunity. Because the opportunity to receive the distribution
was open to all members of class 4 equally, the court held that the
Emerald Oil plan met Sec. 1123(a)(4)'s requirement that it "provide
the same treatment for each claim."

B. The offending provision has been removed in an Amended Chapter
11 Plan.

The Debtor points out that in direct response to the United States
Trustee’' objections to the Plan, the Debtor advises that it has
removed the offensive provision of its Chapter 11 Plan at issue in
the objection.  Now, entirely consistent with the jurisprudence on
death trap provisions within a Chapter 11 Plan, the differing
treatment merely rewards those creditors who support the plan and
does not in any way remove rights from those who oppose it.

Attorneys for Debtor:

     Michael Jones, CA Bar No. 271574
     M. Jones & Associates, PC
     505 North Tustin Ave, Suite 105
     Santa Ana, CA 92705
     Telephone: (714) 795-2346
     Facsimile: (888) 341-5213
     Email: mike@MJonesOC.com

                 About Affordable Auto Repair

Affordable Auto Repair, Inc., sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. C.D. Cal. Case No. 19-18367) on Sept.
23, 2019.  At the time of the filing, the Debtor had estimated
assets of less than $50,000 and liabilities of less than $500,000.
The case is assigned to Judge Mark S. Wallace.  M. Jones and
Associates, PC, is the Debtor's counsel.


AFFORDABLE AUTO REPAIR: Unsecureds Will Get 4% or 8% in Plan
------------------------------------------------------------
Affordable Auto Repair, Inc. submitted a Plan and a Disclosure
Statement.

The Debtor has reduced the size of its operations to a more
sustainable and profitable level.  Further, the Chapter 11 filing
will enable the Debtor to better manage and address the loans that
had carried on onerous terms prepetition.

CLASS 2A Secured claim of On Deck Capital, Inc., is impaired.  The
alleged secured claim of On Deck Capital, Inc. allegedly secured by
the Second Priority Lien on the Intangible Property in the alleged
amount of $163,058 is subject to removal and "stripping" because it
does not attach to any equity in the collateral whatsoever.  As
such, although it is claimed by OnDeck to be a secured claim, it
shall be treated as completely unsecured.

CLASS 2B Secured claim of Mr. Advance LLC is impaired.  The secured
claim of Mr. Advance LLC is in the amount of $40,000.  The secured
claim of secured by the Third Priority Lien on the Intangible
Property shall be paid as provided within the approved settlement
between the Debtor and Mr. Advance attached to the Motion to
Approve Compromise under Rule 9019 on the docket as item number 49
for this Chapter 11 proceeding and approved by the Court by Court
Order on the docket as item number 57.

CLASS 2C 1333 Bon View Corporation is impaired.  The Debtor assumes
the lease obligation referenced herein within Class 2C, and the
lease will remain in full force and effect except as modified
herein.  The total amount necessary to cure the default under the
lease is $30,356, of which $4,245 is secured against the security
deposit and $26,111 is unsecured.  The full amount of the arrears
shall be cured by the Debtor with consent of Bon View over the
first 24 months of the Plan following the Effective Date, with
interval payments of $1,265, paid on the first day of the month for
no more than 24 consecutive months.

CLASS: 2D Secured claim of AKF, Inc., is impaired. The alleged
secured claim of AKF, Inc. allegedly secured by the Fifth Priority
Lien on the the Accounts Receivable in the alleged amount of
$15,713.68 is subject to removal and "stripping" because it does
not attach to any equity in the collateral whatsoever.  As such,
although it is claimed by AKF to be a secured claim, it shall be
treated herein as completely unsecured.

CLASS 2E Secured claim of EBF Partners, LLC d/b/a Everest Business
Funding, is impaired. The amount of the allowed secured claim of
EBF Partners, LLC d/b/a Everest Business Funding secured by the
First Priority Lien on the Intangible Property will be in the
amount of $30,375.  The Everest First Priority Lien will be paid as
agreed by the Stipulation for Plan Treatment between the Debtor and
Everest, on the docket as item number 60 for this Chapter 11
proceeding.

Class 4: General Unsecured Claims are impaired.  The Debtor
proposes to pay the Class 4 members differently depending on
whether the Class 4 member supports or opposes the confirmation of
the Chapter 11 Plan.  By way of summary, Class 4 members that
support the confirmation of the Chapter 11 Plan are paid 8% of
their claims over the first 36 months of the plan with 4% interest;
Class 4 members that oppose the confirmation of the Chapter 11 Plan
are paid 4% of their claims in month 48 of the plan without any
interest at all.

The funding of the Plan will be accomplished through "available
cash" on the Effective Date of the Plan, the injection of $85,000
in "added value" from the equity holder, and "future disposable
income" obtained through the Debtor's business affairs in operating
an automotive repair business.

A full-text copy of the Disclosure Statement dated August 5, 2020,
is available at https://tinyurl.com/y2y76pcr from PacerMonitor.com
at no charge.

Attorneys for the Debtor:

     Michael Jones, CA
     M. Jones & Associates, PC
     505 North Tustin Ave, Suite 105
     Santa Ana, CA 92705
     Telephone: (714) 795-2346
     Facsimile: (888) 341-5213
     Email: mike@MJonesOC.com

                  About Affordable Auto Repair

Affordable Auto Repair, Inc., sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. C.D. Cal. Case No. 19-18367) on Sept.
23, 2019.  At the time of the filing, the Debtor had estimated
assets of less than $50,000 and liabilities of less than $500,000.
The case is assigned to Judge Mark S. Wallace.  M. Jones and
Associates, PC, is the Debtor's counsel.


AIKIDO PHARMA: To Hold Its Annual Meeting on Nov. 17
----------------------------------------------------
AIkido Pharma Inc. has established Nov. 17, 2020 as the date of the
Company's 2020 Annual Meeting of Stockholders and Sept. 24, 2020 as
the record date for determining stockholders entitled to notice of,
and to vote at, the 2020 Annual Meeting.  The 2020 Annual Meeting
will be a virtual meeting held via live audio webcast.  Because the
date of the 2020 Annual Meeting has been changed by more than 30
days from the date of the Company's 2019 Annual Meeting of
Stockholders, stockholders of the Company who wish to nominate a
person for election as a director or propose business to be brought
before the 2020 Annual Meeting must ensure that written notice of
such nomination or proposed business, as the case may be, is
received by the Company's Secretary at AIkido Pharma Inc., One
Rockefeller Plaza, New York, New York 10020, on or before the close
of business on Oct. 1, 2020, which the Company has determined to be
a reasonable time before it expects to begin to print and send its
proxy materials.  Any such nomination must also meet the
requirements set forth in the rules and regulations of the
Securities and Exchange Commission in order to be eligible for
inclusion in the proxy materials for the 2020 Annual Meeting
including submission of notice of the nomination by Schedule 14N
required pursuant to SEC Rule § 240.14a-18, promulgated under the
Securities Exchange Act of 1934, as amended.  The Oct. 1, 2020
deadline will also apply in determining whether notice of a
stockholder proposal is timely for purposes of exercising
discretionary voting authority with respect to proxies under Rule
14a-4(c) promulgated under the Exchange Act.  Also, if the
stockholder does not also comply with the requirements of Rule
14a-4(c)(2) under the Exchange Act, the Company's proxies may
exercise discretionary voting authority under proxies that the
Company's Board of Directors solicits to vote in accordance with
their best judgment on any such stockholder proposal or nomination.
The Company encourages stockholders to seek advice from
knowledgeable counsel before submitting a proposal or a
nomination.

                          About Aikido Pharma

Headquartered in New York, NY, Aikido Pharma Inc. fka Spherix
Incorporated -- http://www.spherix.com-- was initially formed in
1967 and is currently a biotechnology company seeking to develop
small-molecule anti-cancer therapeutics.  The Company's activities
generally include the acquisition and development of technology
through internal or external research and development. In addition,
the Company seeks to acquire existing rights to intellectual
property through the acquisition of already issued patents and
pending patent applications, both in the United States and abroad.
The Company may alone, or in conjunction with others, develop
products and processes associated with technology development.
Recently, the Company has invested in and helped develop technology
with Hoth Therapeutics, Inc., DatChat, Inc. and with its recent
asset acquisition with CBM BioPharma, Inc. in December 2019.

Spherix reported a net loss of $4.18 million for the year ended
Dec. 31, 2019, compared to net income of $1.73 million for the year
ended Dec. 31, 2018.  As of June 30, 2020, the Company had $32.46
million in total assets, $969,000 in total liabilities, and $31.49
million in total stockholders' equity.

Marcum LLP, in New York, NY, the Company's auditor since 2013,
issued a "going concern" qualification in its report dated Jan. 31,
2020, citing that Company has historically incurred losses from
operations and needs to raise additional funds to meet its
obligations and sustain its operations.  These conditions raise
substantial doubt about the Company's ability to continue as a
going concern.


AMERICARE-TENNESSEE: Taps Toni Campbell Parker as Legal Counsel
---------------------------------------------------------------
Americare-Tennessee Property Group LLC received approval from the
U.S. Bankruptcy Court for the Western District of Tennessee to
employ the Law Office Of Toni Campbell Parker as its legal
counsel.

The firm will advise Debtor regarding its duties under the
Bankruptcy Code and will provide other legal services related to
its Chapter 11 case.

The firm will be paid at the hourly rate of $350 and will be paid a
retainer in the amount of $25,000.

Toni Campbell Parker, Esq., sole practitioner of the firm,
disclosed in a court filing that his firm neither holds nor
represents any interest adverse to Debtor's estate.

The firm can be reached through:

     Toni Campbell Parker, Esq.
     Law Office of Toni Campbell Parker
     P.O. Box 240666
     615 Oakleaf Office Lane
     Memphis, TN 38124-0666
     Tel: 901-683-0099
     Fax: 866-489-7938
     Email: tparker002@att.net

              About Americare-Tennessee Property Group

Americare-Tennessee Property Group, LLC operates an assisted living
facility in Memphis, Tenn.  

Americare-Tennessee Property Group sought protection under Chapter
11 of the Bankruptcy Code (Bankr. W.D. Tenn. Case No. 20-23683) on
July 22, 2020.  At the time of the filing, Debtor had estimated
assets of less than $50,000 and liabilities of between $1 million
and $10 million.

Judge Jennie D. Latta oversees the case.  The Law Office of
ToniCampbell Parker serves as Debtor's legal counsel.


ARDEN HOLDINGS: Wins Confirmation of Plan
-----------------------------------------
Judge James R. Sacca has ordered that the Plan of Arden Holdings,
LLC, is confirmed.

Judge Sacca also ordered that the Plan is modified, amending
Section 4.01 to provided that Class 1 is amended as follows:

Class 1 (Rebecca and Rudy Harrell): Class 1 consists of the secured
claim of Rebecca Harrell and Thomas Rudy Harrell (the "Harrells").
The Harrells holds a first priority security interest in the real
property located at 3160 Arden Road, Atlanta, GA 30305 ("Class 1
Collateral").  The Harrells' claim is fully secured and valued at
$1,400,000 as of August 1, 2020.  The Debtor will make monthly
interest payments on the Harrells' secured claim in the amount of
$4,000.  Payments will begin on Aug. 15, 2020 and continue on the
15th of each month thereafter for nine months.  All amounts due and
owing on the claim shall come due nine months (the "Final Payment
Date") from the first payment under this Plan.  The Debtor will
maintain hazard insurance on the Class 1 Collateral at its own
cost.  Said insurance will list the Harrells as loss payee(s).  The
Debtor will pay the appropriate property taxes directly to the
taxing authority.  The Debtor will not escrow funds for insurance
and property taxes with the Harrells.

If Debtor does not timely pay the property taxes, including
sanitation charges from the county or city or maintain insurance on
the Class 1 Collateral, Debtor shall be in default to the Harrells.
To declare a default, the Harrells must email wgeer@wiggamgeer.com
and sboyd@sparrowcharger.com and provide a notice that Debtor is in
default. The Debtor shall have 10 days to cure the default.  If the
Debtor fails to cure the default within 10 days of receipt of the
default notice, the Harrells may pursue their state law remedies to
collect against the Class 1 Collateral.

The Debtor shall list the Class 1 Collateral for sale with a
licensed real estate broker on or before Sept. 1, 2020.  If the
Class 1 Collateral is under a binding contract that will not close
on or before the Final Payment Date, Debtor may request that the
Final Payment Date be extended until the closing date established
by the contract. If the contract requires at least 2% earnest money
down, and said earnest money has been paid prior to the date of the
request for extension, and the contract does not contain any
unfulfilled contingencies as of the date of the request for
extension, the Harrells shall extend the Final Payment Date for up
to 60 days to allow the sale of the Class 1 Collateral to close.
Debtor shall e-mail any request for extension, including a copy of
the contract, to smichalove@campbellandbrannon.com and to
RudyHarrell@dorseyalston.com.

The Harrells will retain their lien on the Class 1 Collateral and
the lien shall be valid and fully enforceable to the same validity,
extent and priority as existed on the Filing Date.  Upon receipt of
the then outstanding balance of the Secured Class 1 Claim, the
Harrells (or its successors or assigns) shall release its lien on
the Class 1 Collateral.  If the then outstanding balance of the
Secured Class 1 Claim has not been paid on or before the Final
Payment Date, including any extension thereof, the Harrells may
pursue their state law remedies to collect against the Class 1
Collateral.  The Claim of the Class 1 Lender is impaired by the
Plan and the Holder of Class 1 Claim is entitled to vote.  Nothing
herein shall constitute an admission as to the nature, validity, or
amount of claim.  The Debtor reserve the right to object to any and
all claims.

The Debtor is discharged from each debt or claim that arose against
the Debtor prior the date of this Order, whether or not a proof of
claim based upon the debt or claim is filed or deemed filed in the
case, whether or not a claim is allowed, and whether or not the
holder of a claim has accepted the Plan; provided that nothing in
this Order or in the Plan shall operate as a discharge of the
Debtor from claims, obligations, or liabilities to be paid or
performed under the Plan or any agreement executed in conjunction
with the Plan.

Attorney for Debtor:

     Will B. Geer
     50 Hurt Plaza, SE, Suite 1150
     Atlanta, GA 30303
     Tel: (678) 587-8740
     Fax: (404) 287-2767
     E-mail: wgeer@wiggamgeer.com

                     About Arden Holdings

Arden Holdings, LLC, based in Atlanta, GA, filed a Chapter 11
petition (Bankr. W.D. Ga. Case No. 19-69373) on Dec. 2, 2019.  In
the petition signed by Sean Boyd, managing member, the Debtor was
estimated to have $1 million to $10 million in both assets and
liabilities. Will B. Geer, Esq., at Wiggam & Geer, LLC, serves as
bankruptcy counsel to the Debtor.


ASTROTECH CORP: Receives Noncompliance Notice from Nasdaq
---------------------------------------------------------
Astrotech Corporation received a notice from the Listing
Qualifications Department of the Nasdaq Stock Market LLC on Sept.
11, 2020 stating that the Company was not in compliance with the
required stockholder's equity of $2.5 million.

As previously noted by Astrotech in its Form 10-K for the fiscal
year ended June 30, 2020, the Company was not in compliance with
the minimum stockholders' equity requirement under Nasdaq Listing
Rule 5550(b)(1) for continued listing on The Nasdaq Capital Market
because the Company's stockholders' equity was below the required
minimum of $2.5 million at June 30, 2020.

The Notice has no immediate effect on the Company's listing on The
Nasdaq Capital Market.  The Company has until Oct. 26, 2020 to
submit a plan to regain compliance with the minimum stockholders'
equity requirement.  If the Company's plan to regain compliance is
accepted, Nasdaq may grant an extension of up to 180 calendar days
from the date of the Notice to evidence compliance.

The Company is presently evaluating various courses of action to
regain compliance and intends to timely submit a plan to Nasdaq to
regain compliance with the Nasdaq minimum stockholders' equity
requirement.  However, there can be no assurance that the Company's
plan will be accepted or that if it is, the Company will be able to
regain compliance by the end of the Compliance Period.  If the
Company's plan to regain compliance is not accepted, or if it is
and the Company does not regain compliance during the Compliance
Period, or if the Company fails to satisfy another Nasdaq
requirement for continued listing, Nasdaq could provide notice that
the Company's common stock will become subject to delisting.  In
such event, Nasdaq rules would permit the Company to appeal the
decision to reject the Company's proposed plan to regain compliance
or any delisting determination to a Nasdaq Hearings Panel.

                        About Astrotech

Astrotech (NASDAQ: ASTC) -- http://www.astrotechcorp.com/-- is a
science and technology development and commercialization company
that launches, manages, and builds scalable companies based on
innovative technology in order to maximize shareholder value.  1st
Detect develops, manufactures, and sells trace detectors for use in
the security and detection market.  AgLAB is developing chemical
analyzers for use in the agriculture market.  BreathTech is
developing a breath analysis tool to provide early detection of
lung diseases.  Astrotech is headquartered in Austin, Texas.

Astrotech reported a net loss of $8.31 million for the year ended
June 30, 2020, compared to a net loss of $7.53 million for the year
ended June 30, 2019.  As of June 30, 2020, the Company had $5.93
million in total assets, $5.30 million in total liabilities, and
$625,000 in total stockholders' equity.

Armanino LLP, in San Francisco, California, the Company's auditor
since 2019, issued a "going concern" qualification in its report
dated Sept. 8, 2020, citing that the Company has suffered recurring
losses from operations and has net cash flows deficiencies that
raise substantial doubt about its ability to continue as a going
concern.


BC CHALET: Voluntary Chapter 11 Case Summary
--------------------------------------------
Debtor: BC Chalet, LLC
        P.O. Box 232
        Wayzata, MN 55391

Business Description: BC Chalet, LLC classifies its business as
                      Single Asset Real Estate (as defined in 11
                      U.S.C. Section 101(51B)).  The Debtor owns
                      a property in Beaver Creek, Colorado valued
                      at $3.03 million.

Chapter 11 Petition Date: September 15, 2020

Court: United States Bankruptcy Court
       District of Colorado

Case No.: 20-16118

Judge: Hon. Elizabeth E. Brown

Debtor's Counsel: Robert J. Shilliday III, Esq.
                  SHILLIDAY LAW, P.C.
                  730 17th Street, Suite 340
                  Denver, CO 80202
                  Tel: 720-439-2500
                  Email: rjs@shillidaylaw.com

Total Assets: $3,032,000

Total Liabilities: $1,610,323

The petition was signed by Mikhail G. Kaminski, chief
manager/president.

The Debtor stated it has no unsecured creditors.

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

https://www.pacermonitor.com/view/DT2A77Q/BC_Chalet_LLC__cobke-20-16118__0001.0.pdf?mcid=tGE4TAMA


BILTMORE 24: Sept. 16 Hearing on Disclosure Statement
-----------------------------------------------------
Judge Madeleine C. Wanslee has ordered that the Court will consider
the approval of the Disclosure Statement of Biltmore 24 Investors
SPE LLC, et al. at a hearing on September 16, 2020 at 10:00 a.m.

The objection must be filed and served by September 8, 2020 (which
date is at least seven calendar days prior to the Disclosure
Statement Hearing).

                 About Biltmore 24 Investors

Biltmore 24 Investors SPE LLC and its affiliates, Gray Blue Sky
Scottsdale Residential Phase I LLC, Gray Guarantors I LLC, Gray
Guarantors II LLC, and Gray Guarantors III LLC, listed their
businesses as single asset real estate (as defined in 11 U.S.C.
Section 101(51B) and were formed for the purpose of real estate
acquisition and ownership.

On April 21, 2020, Biltmore 24 and its affiliates filed voluntary
petitions for relief under Chapter 11 of the Bankruptcy Code
(Bankr. D. Ariz. Lead Case No. 20-04130).  The petitions were
signed by Bruce Gray, manager.  At the time of the filing, the
Debtors had estimated assets of between $10 million and $100
million and liabilities of between $50 million and $500 million.  

Judge Brenda K. Martin oversees the cases.  

Michael W. Carmel, Ltd., is the Debtors' bankruptcy counsel.  The
Debtors also hired Kutak Rock, LLP, Beus Gilbert McGroder, PLLC and
Cohen Dowd Quigley as their special counsel.


BJ SERVICES: Committee Hires Squire Patton as Legal Counsel
-----------------------------------------------------------
The official committee of unsecured creditors of BJ Services, LLC
and its affiliates seeks approval from the U.S. Bankruptcy Court
for the Southern District of Texas to retain Squire Patton Boggs
(US) LLP as its legal
counsel.

The services that will be provided by Squire Patton are as follows:


     a. advise the committee of its powers and duties under Section
1102 of the Bankruptcy Code;

     b. consult with Debtors and all key parties in Debtors'
Chapter 11 cases;

      c. advise the committee in connection with Debtors' use of
cash collateral and represent the committee in negotiations;

      d. analyze Debtors' assets, financing transactions, and the
amount, extent or priority of liens on and encumbrances against
Debtors' assets;

      e. assist the committee in negotiating favorable terms for
unsecured creditors with respect to any proposed agreement for the
sale of Debtors' assets;

      f. prepare legal papers;

      g. appear in court;

      h. review Debtors' schedules and statements of financial
affairs;

      i. advise the committee as to the implications of Debtors'
activities and motions before the court; and

      j. perform other necessary legal services in connection with
Debtors' Chapter 11 cases.

Squire's hourly rates range from $130 to $1,500 for its attorneys
and from $120 to $480 for paraprofessionals.

The attorneys and paralegal expected to provide the services are as
follows:

     Norman Kinel, Partner             $1,095
     Stephen Lerner, Partner           $1,240
     Christopher Giaimo, Partner         $750
     Jeffrey Rothleder, Partner          $700
     Rebecca Haverstick, Of Counsel      $615
     Travis McRoberts, Senior Associate  $880
     Maura McIntyre, Associate           $460
     Jihyun Park, Associate              $425
     Sarah Conley, Senior Paralegal      $315

Norman Kinel, Esq., a partner at Squire, disclosed in court filings
that his firm is a "disinterested person" as that term is defined
in Section 101(14) of the Bankruptcy Code.

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

    -- Squire did not agree to any variations from, or alternatives
to, its standard or customary billing arrangements for the
engagement;

    -- Squire professionals did not vary their rate based on the
geographic location of the bankruptcy cases;

    -- Squire has not represented the committee in the 12 months
prior to Debtors' bankruptcy filing; and

    -- Squire is in the process of formulating the budget and
staffing plan, which has not yet been approved by the committee.

The firm can be reached through:

         Norman N. Kinel, Esq.
         Nava Hazan, Esq.
         Squire Patton Boggs (US) LLP
         30 Rockefeller Plaza, 23rd Floor
         New York, NY 10112
         Tel: (212) 872-9800
         Fax: (212) 872-9815
         Email: norman.kinel@squirepb.com
                nava.hazan@squirepb.com

                         About BJ Services

BJ Services, LLC provides hydraulic fracturing and cementing
services to upstream oil and gas companies engaged in the
exploration and production of North American oil and natural gas
resources.  Based in Tomball, Texas, BJ Services operates in every
major basin throughout U.S. and Canada.  Visit
https://www.bjservices.com for more information.

BJ Services and its affiliates sought protection under Chapter 11
of the Bankruptcy Code (Bankr. S.D. Texas Lead Case No. 20-33627)
on July 20, 2020.  At the time of the filing, Debtors disclosed
assets of between $500 million and $1 billion and liabilities of
the same range.  Judge Marvin Isgur oversees the cases.

Debtors have tapped Kirkland & Ellis, LLP, Kirkland & Ellis
International, LLP and Gray Reed & McGraw LLP as their legal
counsel, PJT Partners LP as investment banker, Ankura Consulting
Group, LLC as restructuring advisor, PricewaterhouseCoopers LLP as
tax consultant, and Donlin, Recano & Company, Inc. as claims
agent.

Debtors have also tapped a number of professionals to assist in the
marketing and sale of their assets.

The Office of the U.S. Trustee appointed a committee of unsecured
creditors on July 28, 2020.  The committee is represented by Squire
Patton Boggs (US), LLP.


BSI LLC: Relstar Buying Cartersville Property for $800K Cash
------------------------------------------------------------
BSI, LLC - 33 Smiley Ingram filed with the U.S. Bankruptcy Court
for the Northern District of Georgia a notice of its proposed sale
of approximately 2.5-acre of improved real property located in
Cartersville, Bartow County, Georgia to Relstar Properties, LLC for
$800,000, cash, under the terms of their Contract of Purchase and
Sale, dated Aug. 9, 2020.

The Movant owns a 5-acre tract and an adjacent 12.841-acre tract,
for a total of 17.841 acres, improved with two industrial
buildings.  The Property is located on the east side of Smiley
Ingram Road in Bartow County, Georgia and is known generally as 33
Smiley Ingram Road, Cartersville, Georgia.

The Movant asks entry of a Court Order authorizing it to sell to
the Buyer a portion of the Property being approximately 2.5 acres
improved with one of the buildings, together with all existing
improvements, leases, appurtenances, easements, and privileges, the
Sale Property to be subdivided by the Movant from the Property.

The Sale Contract is subject to Court approval.  The gross purchase
price is $800,000 cash at closing.  There is no financing
contingency.  The Movant will pay a commission at closing equal to
4% of the gross sales price, for a total of $32,000, to be shared
equally by the Movant's real estate broker, Keller Williams Realty
Partners, and the Buyer's real estate broker, Empire South
Commercial Real Estate, (i.e., $16,000.00 apiece).  Closing
attorney James W. Crocker, PC. is holding the Buyer's $25,000
Earnest Money deposit in escrow.

There is a 30-day Inspection Period beginning on the Aug. 9, 2020
date of the Sales Contract during which the Buyer may cancel the
Sale Contract and the Earnest Money is to be refunded.  Closing is
to be held 15 days from the Inspection Period or as may be extended
by mutual agreement.  The Sale Contract contemplates that the
Movant will assign the existing tenant lease on the Sale Property
to the Buyer.  The sale is to be conducted free and clear of all
liens, claims and encumbrances, with all valid liens, claims and
encumbrances to attach to the sales proceeds.  The Movant has no
prior relationship with the Buyer.

A hearing on the Motion is set for Sept. 23, 2020, at 9:25 a.m.
Objections, if any, must be filed 21 days from the date of service
of the notice.

A copy of the Contract is available at https://tinyurl.com/yx9pll9r
from PacerMonitor.com free of charge.
                         
                 About BSI, LLC - 33 Smiley Ingram

BSI, LLC - 33 Smiley Ingram, a single asset real estate (as defined
in 11 U.S.C. Section 101(51B)), sought protection under Chapter 11
of the Bankruptcy Code (Bankr. N.D. Ga. Case No. 20-40882) on May
4, 2020.  The petition was signed by Brian Alan Stewar, Debtor's
manager.  At the time of the filing, the Debtor disclosed assets of
between $1 million and $10 million and liabilities of the same
range.  Judge Paul W. Bonapfel oversees the case.  The Debtor
tapped Paul Reece Marr, P.C., as legal counsel.



CARVER BANCORP: Quinn Opportunity, et al. Report 6.8% Stake
-----------------------------------------------------------
Quinn Opportunity Partners LLC, Quinn Opportunity Partners GP LLC,
Quinn Opportunities Master LP, and Patrick Quinn disclosed in an
amended Schedule 13G filed with the Securities and Exchange
Commission that as of Aug. 14, 2020, they beneficially own
195,230 shares of common stock of Carver Bancorp, Inc., which
represents 6.8 percent based on a total of 2,875,410 shares of
Common Stock outstanding as of Aug. 13, 2020, as set forth in the
Issuer's Form 10-Q filed on August 14, 2020..  A full-text copy of
the regulatory filing is available for free at:

https://www.sec.gov/Archives/edgar/data/1016178/000163327520000016/QOP13GA.htm

                       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.

Carver Bancorp reported a net loss of $5.42 million for the year
ended March 31, 2020, compared to a net loss of $5.94 million for
the year ended March 31, 2019.  As of June 30, 2020, the Company
had $670.7 million in total assets, $623.63 million in total
liabilities, and $47.04 million in total equity.


CENTURY III MALL: Court Confirms Reorganization Plan
----------------------------------------------------
The Court entered an order confirming Century III Mall PA LLC's
Amended Chapter 11 Plan of Reorganization Dated May 7, 2020.

The Plan Supplements constitute as amendments to the Plan and,
hereafter, reference to the Plan will expressly mean and include
the Plan as supplemented by the Plan Supplements.

The First Plan Supplement affects only the proposed treatment of
West Mifflin Borough, West Mifflin Area School District (together
with West Mifflin Borough, "West Mifflin"), and Olson Restoration
d/b/a Servpro Extreme Response Team, all of whom have expressly
approved and supported the Plan and First Plan Supplement together;
the Second Plan Supplement affects only the interests of JCP, who
has withdrawn its objections to the Plan and has approved and
supported the Plan and Second Plan Supplement together.

Judge Carlota M. Bohm has ordered that the Plan is approved and
confirmed in all respects pursuant to Section 1129 of the
Bankruptcy Code and the provisions of the Plan are operable and in
full force and effect.

The Settlement Agreement between the Debtor and JCP, as approved by
the Court pursuant to the Settlement Approval Order and as attached
to and made a part of the Second Plan Supplement, is fully
incorporated into and made an express part of the Plan. If and to
the extent that the terms of the Settlement Agreement and the Plan
Supplement modify, amend, supplement and/or are otherwise contrary
to the terms set forth in the Plan filed at Doc. No. 438, the
Settlement Agreement and the Second Plan Supplement shall govern
and control.

On or about July 20, 2020, the Debtor and Servpro entered into that
certain settlement agreement to resolve all outstanding disputes
between the parties (the "Servpro Agreement") and the Debtor shall
file a Motion to Approve Settlement pursuant to Rule 9019 in order
to consummate the Servpro Agreement.

                   About Century III Mall PA

Century III Mall PA LLC -- http://www.centuryiiimall.com/-- owns
the Century III Mall shopping center located in West Mifflin, Pa.

Century III Mall PA sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. W.D. Pa. Case No. 18-23499) on Sept. 3,
2018. In the petition signed by Edward Sklyaroff, president, the
Debtor was estimated to have assets of $1 million to $10 million
and liabilities of $1 million to $10 million.  Judge Carlota M.
Bohm oversees the case. The Debtor tapped Kirk B. Burkley, Esq., at
Bernstein-Burkley, P.C., as its legal counsel.

No official committee of unsecured creditors has been appointed.


CHARM HOSPITALITY: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Charm Hospitality, LLC
        3019 Idaho Street
        Elko, NV 89801

Business Description: Charm Hospitality, LLC owns a property in
                      Elko, Nevada valued at $3 million.

Chapter 11 Petition Date: September 15, 2020

Court: United States Bankruptcy Court
       District of Nevada

Case No.: 20-50880

Debtor's Counsel: Brandy Brown, Esq.
                  KUNG & BROWN
                  214 S. Maryland Pkwy.
                  Las Vegas, NV 89101
                  Tel: 702-382-0883
                  Email: bbrown@ajkunglaw.com

Total Assets: $3,099,287

Total Liabilities: $7,472,409

The petition was signed by Larry Williams, corporate
representative.

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

https://www.pacermonitor.com/view/FVUCMYA/CHARM_HOSPITALITY_LLC__nvbke-20-50880__0001.0.pdf?mcid=tGE4TAMA


CHENIERE ENERGY: Moody's Assigns Ba3 CFR, Outlook Stable
--------------------------------------------------------
Moody's Investors Service assigned first time ratings to Cheniere
Energy, Inc. including a Ba3 Corporate Family Rating, a Ba3-PD
Probability of Default Rating (PDR) and a Ba3 rating to its
proposed issuance of senior secured notes. Moody's also assigned a
Speculative Grade Liquidity Rating of SGL-3, indicating adequate
liquidity. The outlook is stable.

Cheniere intends to use the proceeds of the proposed notes issue to
prepay a portion of its $2.7 billion secured term loan. The senior
secured notes provide for a release of collateral should the
secured term loan be retired or refinanced on an unsecured basis,
in which case its Ba3 rating would be unaffected.

"While debt at Cheniere Energy is structurally subordinated to
substantial amounts of secured project level debt and intermediate
holding company debt, debt service is well supported by cash flow
generated under long-term, take-or-pay, largely investment grade
contracts across seven fully operational natural gas liquefaction
(LNG) trains," commented Andrew Brooks, Moody's Vice President.
"Moreover, as construction is finalized on its remaining two LNG
liquefaction trains, positive free cash flow will ramp up,
generating incremental funding for debt reduction in the absence of
additional capital spending."

Assignments:

Issuer: Cheniere Energy, Inc.

Probability of Default Rating, Assigned Ba3-PD

Speculative Grade Liquidity Rating, Assigned SGL-3

Corporate Family Rating, Assigned Ba3

Senior Secured Notes, Assigned Ba3 (LGD3)

Outlook Actions:

Issuer: Cheniere Energy, Inc.

Outlook, Assigned Stable

RATINGS RATIONALE

Through its ownership and operation of two US-based LNG export
facilities, Sabine Pass Liquefaction LLC (SPL, Baa3 stable) and
Cheniere Corpus Christi Holdings, LLC (CCH, Baa3 stable), Cheniere
Energy has emerged as one of the world's largest LNG exporters,
having shipped over 1,175 LNG cargoes since its initial shipments
in 2016. Approximately 85% of its liquefaction capacity is
contracted under take-or-pay contracts whose remaining average
contract life approximates 18 years. However, by largely
debt-financing the construction of the seven operating liquefaction
trains across the two project sites (with two more under
construction), Cheniere has accumulated almost $24 billion of
secured project level debt, in addition to $4.1 billion of
intermediate holding company debt at Cheniere Energy Partners, L.P.
(CQP, Ba2 stable), all of which is senior to the $3.4 billion debt
outstanding at Cheniere Energy. On a fully consolidated basis,
Cheniere's debt/EBITDA stands at a very high 8x.

Cheniere Energy's rating further acknowledges that a combination of
global LNG supply additions over the past several years along with
warmer winters and strict COVID-19 containment measures have
exerted downward pressure on global oil, natural gas and LNG
prices. As a result, Cheniere has experienced an increase in
customer LNG cargo cancellations in 2020 to date. However, these
customers continue to be contractually obligated to pay the related
fixed fees associated with these cancelled cargoes.

SPL generates significant recurring fixed revenue and cash flow
under long term contracts with financially sound contract
counterparties, whose weighted average credit quality approximates
A3. Contracted fixed payments for its Trains 1-5 approximate $2.9
billion per year and provide for annual recurring EBITDA in excess
of $1.8 billion. Nameplate capacity across the five operating
trains aggregates 22.5 million tonnes per annum (MTPA), the
equivalent of about 3.5 billion cubic feet per day (Bcfd) of
natural gas. SPL also receives variable LNG production-based
payments equal to 115% of month-end Henry Hub natural gas prices
when LNG is delivered. Projected key financial metrics through
2022, which primarily focus on SPL's ability to generate the fixed
component of its revenue stream, should result in debt-to-EBITDA in
a range of 6x-7x. Construction activities remain ongoing at its
Train-6 which is approximately two-thirds completed, with
commercial operations anticipated to commence in the second half of
2022. SPL project debt aggregates $13.65 billion. SPL together with
contract-based import capacity and a natural gas pipeline is held
by master limited partnership CQP, which is owned approximately 50%
by Cheniere Energy, 42% by funds managed by The Blackstone Group
Inc. (Blackstone PE), and 8% by the public. Blackstone PE has
agreed to sell its investment in CQP to Blackstone Infrastructure
Partners and Brookfield Infrastructure Fund IV in a transaction
scheduled to close in 2020's third quarter (see Moody's Issuer
Comment for Blackstone CQP Holdco LP on 8 September 2020).

CCH currently operates two 4.5 MTPA LNG liquefaction trains, with a
third train under construction that is approximately 91% complete
as of June 30. Train-3 substantial completion is anticipated in the
first half of 2021. Collectively, the facility operates under nine
offtake contracts, providing annual recurring fixed fees of
approximately $1.8 billion over a multi-year period; the current
average weighted credit profile of CCH's nine contractual customers
is in the mid-Baa rating range. Contract structure is comparable to
that of SPL, providing for fixed reservation fees on a take-or-pay
basis in addition to Henry Hub indexed variable payments for
delivered LNG. Project debt should remain approximately $10 billion
over the near-term.

The rapid spread of the coronavirus outbreak, deteriorating global
economic outlook, low oil and natural gas prices have created an
unprecedented credit shock across a range of sectors and regions.
Moody's regards the coronavirus outbreak as a social risk under its
ESG framework, given the substantial implications for public health
and safety. Cheniere Energy's rating, in part, reflects the impact
on it of its exposure to globally weak natural gas prices, which
leaves it vulnerable to shifts in market demand and sentiment in
these unprecedented operating conditions.

Moody's regards Cheniere Energy as having adequate liquidity as
evidenced by its SGL-3 Speculative Grade Liquidity Rating. As of
June 30, Cheniere Energy had balance sheet cash of $700 million (in
addition to $1.34 billion cash at CQP) and a $1.25 billion secured
revolving credit facility under which $375 million of borrowings
was outstanding in addition to $313 million of letters of credit.
The revolver has a scheduled maturity date of December 2022. In
June, Cheniere Energy closed a three-year delay-draw secured term
loan, which was upsized to $2.7 billion in July, to refinance
certain upcoming maturities, while SPL issued $2.0 billion in
secured notes to refinance certain of its upcoming debt maturities.
SPL's next upcoming maturity is its $1.0 billion of 6.25% notes due
in 2022. With the pending completion of SPL's Train-6 and CCH's
Train-3, Moody's expects a significant building of positive free
cash flow to be available for debt reduction.

The proposed senior secured notes rank pari passu with Cheniere
Energy's $2.7 billion secured term loan and $1.25 billion secured
revolving credit facility. The proposed senior secured notes are
rated Ba3, equivalent to Cheniere Energy's Ba3 CFR, and share an
equivalent claim on assets as do the secured revolving credit
facility and secured term loan. The senior secured notes provide
for a release of collateral should the secured term loan be retired
or refinanced on an unsecured basis and so long as other Cheniere
Energy secured debt does not exceed $1.25 billion, in which case
its Ba3 rating would be unaffected. However, while the senior
secured notes will become unsecured obligations upon the release of
collateral, the $1.25 billion revolving credit family will continue
to remain a senior secured obligation of Cheniere Energy, leaving
the notes junior to the revolver from a collateral and claim
position. As such, the Ba3 rating on the notes is sensitive to the
extent of utilization under the company's secured revolving credit.
Should utilization of the revolver become a permanent component of
the company's debt capital structure, the Ba3 unsecured rating
could be lowered by a notch.

The outlook is stable reflecting the strength and tenor of the
long-term LNG sales contracts that generate stable and predictable
cash flow.

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

Ratings could be upgraded if consolidated debt/EBITDA declines
towards 6.5x; rating upgrades at SPL, CCH and CQP could accelerate
upgrade potential for Cheniere Energy. Failure to improve
consolidated debt/EBITDA from 8x, a material disruption in LNG
liquefaction operations, a deviation in LNG offtake contracting
strategy that weakens cash flow certainty, or material share
repurchases at the expense of debt reduction could prompt a ratings
downgrade.

Cheniere Energy, Inc. is headquartered in Houston, Texas. The
Sabine Pass liquefaction export terminal is located in Cameron
Parish, Louisiana. The Corpus Christi liquefaction export terminal
is located in Corpus Christi, Texas.

The principal methodology used in these ratings was Midstream
Energy published in December 2018.


CONNECTING CULTURES: Seeks Use of Cash Collateral
-------------------------------------------------
Connecting Cultures, Inc. by its proposed attorneys, Steinhilber
Swanson LLP, by Attorney Paul G. Swanson, asks the U.S. Bankruptcy
Court for the Eastern District of Wisconsin for entry of an interim
and final order authorizing its use of cash collateral and granting
adequate protection. The Debtor requires the use of Cash Collateral
in order to meet its expenses and maintain the operation of its
business.

The Internal Revenue Service has an interest in the Debtor's cash
collateral which consists of accounts receivable, office equipment,
and other personal property of the Debtor of approximately
$177,000.

As adequate protection for use of the Cash Collateral, the IRS will
be granted a post-petition security interest in the Debtor's
post-petition accounts receivable to the extent that the Debtor
utilizes pre-petition collateral during the bankruptcy proceedings.
The Debtor believes this protection is fair and reasonable and will
be sufficient to protect the IRS' interests from diminution in
value during the period of its use by the Debtor.

A copy of the Debtor's motion is available at
https://bit.ly/33t4NRo from PacerMonitor.com.

                 About Connecting Cultures Inc.

Connecting Cultures Inc. is a Wisconsin corporation that provides
translation services to medical patients in Northeast Wisconsin. It
specializes in translating Spanish, Hmong, and Somali to English.
Connecting Cultures services medical providers in several counties
in Northeast Wisconsin, including Prevea Medical Group, Managed
Health Services of Wisconsin, Catalpa Health, Aurora Sports
Medicine, ThedaCare, Baycare Physician Partners, Neurosciences
Group, and Valley Eye Associates, among others. The Debtor filed a
voluntary petition for relief under chapter 11 of the Bankruptcy
Code (Bankr. E.D. Wis. Case No. 20-26091) on September 4, 2020,
listing under $1 million in both assets and liabilities.

Paul G. Swanson of Steinhilber Swanson LLP is the counsel for the
Debtor.




CONSOLIDATED COMMUNICATIONS: Moody's Rates Sr. Secured Debt 'B2'
----------------------------------------------------------------
Moody's Investors Service assigned a B2 rating to Consolidated
Communications, Inc.'s (Consolidated) proposed senior secured debt
(Secured Debt), comprised of a $1.25 billion first lien senior
secured credit facility (Credit Facility) and $1 billion of
eight-year first lien senior secured notes (Secured Notes). The
Credit Facility is comprised of a five-year $250 million revolver
(undrawn at close) and a seven-year $1 billion term loan B.
Consolidated's B2 corporate family rating (CFR) and B2-PD
probability of default rating are affirmed and SGL-2 speculative
grade liquidity rating is maintained. The rating outlook is
stable.

Coincident with the issuance of this Secured Debt, Searchlight
Capital will be making an initial $350 million strategic investment
(Searchlight Investment) into Consolidated in the form of a
subordinated note (unrated) that will convert into both perpetual
preferred stock and an approximate 35% common equity ownership
stake upon achievement of FCC approval of foreign ownership of
Consolidated's wireless licenses; Searchlight will augment this
$350 million investment by an additional $75 million for a total of
$425 million upon FCC approval. The FCC approval issue relates to
foreign wireless ownership and Searchlight Capital's end state
ownership stake in Consolidated ranging between 25% and 50%. While
Moody's views the FCC process resulting in a high likelihood of
approval over the next 12 months, under this staged investment
structure Consolidated's debt leverage (Moody's adjusted) will
include this initial $350 million subordinated note. In the low
likelihood event that the FCC does not approve the Searchlight
Investment, Moody's believes Consolidated will be able to transfer
the few wireless licenses it possesses via a sale to a third party
and under a likely leaseback arrangement, and thus still benefit
from the full $425 million Searchlight Investment under existing
conversion terms.

Net proceeds from the Searchlight Investment and Secured Debt will
be used to repay the company's existing term loan B and senior
unsecured notes, and provide additional cash to the balance sheet
of approximately $34 million, resulting in pro forma cash as of
June 30, 2020 of $80 million. The Credit Facility and Secured Notes
rank pari passu and share in collateral comprised of a pledge of
stock and security in assets of Consolidated's subsidiaries, with
few exceptions.

Upon completion of this financing and planned debt retirements from
net proceeds, Moody's expects to withdraw the B1 rating on
Consolidated's existing first lien credit facilities, consisting of
a $110 million revolver and $1.8 billion in term loans, and the
Caa1 rating on the company's existing senior unsecured notes.

Consolidated's financial strategy, which includes last year's
dividend elimination, newly accelerated investment in network
upgrades following the Searchlight Investment and a continued focus
on lowering debt leverage, will be an important driver of the
credit profile going forward.

Assignments:

Issuer: Consolidated Communications, Inc.

Senior Secured Bank Credit Facility, Assigned B2 (LGD3)

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

Affirmations:

Issuer: Consolidated Communications, Inc.

Probability of Default Rating, Affirmed B2-PD

Corporate Family Rating, Affirmed B2

Senior Secured Bank Credit Facility, Affirmed B1 (LGD3)

Senior Unsecured Regular Bond/Debenture, Affirmed Caa1 (LGD6)

Outlook Actions:

Issuer: Consolidated Communications, Inc.

Outlook, Remains Stable

RATINGS RATIONALE

Consolidated's B2 CFR reflects continued but slowing revenue
decline trends exacerbated by continued traditional voice access
line losses within its high margin legacy telecom segment, network
access revenue erosion, persistent competition from cable and
wireless operators and high initial pro forma leverage (Moody's
adjusted) of 5.1x at year-end 2020. These negative factors are
offset by Consolidated's improved financial flexibility to
accelerate investment in its ILEC networks, including upgrading its
core northern New England residential network to encompass at least
1 million fiber home passings over the next seven years to enhance
competitive positioning, grow market share and bolster future
revenue and EBITDA growth. Stabilizing declining revenue with
network investments and growth from data and transport and
broadband services is critical to offsetting declining legacy
revenue.

While Consolidated's common stock dividend elimination in 2019
improved free cash flow and enabled greater focus on deleveraging
through debt repayment, Moody's expects greater prioritization of
capital investments with discretionary cash flow going forward.
Given Moody's treatment of the preferred stock as equity and its
expectation of the conversion of Searchlight Capital's $350 million
subordinated note in 12 months, pro forma leverage (Moody's
adjusted) at year-end 2021 will decline towards 4.5x.
Consolidated's deleveraging trajectory could also benefit from a
further slowing of revenue decline trends and continued cost
cutting efforts. The potential for non-core divestitures, but
excluding sales of interests in any wireless partnerships which
contribute a meaningful portion of consolidated free cash flow
currently, would likely amplify planned capital investment efforts
or secondarily pay down debt. The company also benefits from
diversified operations across carrier, commercial and consumer end
markets, as well as an advanced 45,000-plus fiber-route mile
backbone network that has more stable revenue prospects than
copper-based local exchange carriers.

Moody's views Consolidated's liquidity as good, as reflected by its
SGL-2 speculative grade liquidity rating. As of June 30, 2020, and
pro forma for the Secured Debt issuance, associated refinancing and
the Searchlight Investment, the company will have $80 million in
cash and cash equivalents and full availability under its new $250
million revolving credit facility. Moody's still expects meaningful
internal operating cash flow for full year 2020, partly as a result
of the 2019 dividend elimination, but also expects increased
capital intensity beginning in the fourth quarter of 2020
associated with the early ramping stage of the comprehensive
network upgrade plan tied to the Searchlight Investment. In
addition, Moody's assumes the company, under its election, will
choose to pay a PIK coupon payment on the subordinated note through
2021 before reverting to the election of a cash pay preferred
dividend in 2022 (under Moody's expectations for the conversion of
the subordinated note to preferred) -- this will negatively impact
operating cash flow in 2022. However, Moody's notes that the
Company expects to PIK for the first two years as it launches the
NNE buildout and has election to PIK or pay cash for the first five
years of its partnership with Searchlight Capital. With its upsized
revolver the company will be well positioned for bidding in the
FCC's upcoming RDOF (Rural Digital Opportunity Fund) auction and
the company will face no debt maturities for five years, further
supporting the company's liquidity. Consolidated is expected to
have capital spending of approximately $225 million in 2020 with a
meaningful increase to about $340 million in 2021, resulting in an
approximate $125 million reduction of free cash flow generated in
2020 to around $25 million in 2021. Under the company's network
upgrade plans capital investment as a percentage of revenue will
expand from the current teens area to a range around the 25% area
for several years, with success-based investing comprising a
growing portion of this investing over time.

The company will be subject quarterly to a first lien net leverage
test under its new credit agreement of 5.8x when the $250 million
revolver is more than 35% drawn; there will be no step-downs of
this 5.8x test over the life of the credit agreement. Letters of
credit (LCs) under the revolver are capped at $100 million but LCs
up to $80 million associated with the company's bidding in RDOF
auctions will not constitute draws under this 35% draw ratio
definition -- RDOF LCs would be excluded from both the numerator
and the denominator in this calculation up to $80 million. Moody's
expects the company to remain within its compliance requirements
over the next 12 months.

Moody's rates the company's pari passu Secured Debt, comprised of a
first lien senior secured credit facility and first lien senior
secured notes, B2, in line with the company's B2 CFR. Moody's has
not provided any ratings lift relative to the CFR for the loss
absorption provide by Searchlight Capital's subordinated note
(unrated) given the high likelihood of its conversion to preferred
over the next 12 months. The first lien senior secured credit
facility consists of a five-year $250 million revolver and a
seven-year $1 billion term loan B. The remainder of the Secured
Debt is comprised of $1 billion of eight-year first lien senior
secured notes. First lien lenders benefit from a pledge of stock
and security in assets of all subsidiaries, with the exception of
Consolidated Communications of Illinois and its majority-owned
subsidiary, East Texas Fiber Line Incorporated.

The stable outlook reflects its expectation for slowing revenue
declines over the next 12-18 months, steady EBITDA margins in the
high 30% range and closer to breakeven free cash flow generation as
a result of accelerating capital investments. The outlook also
assumes conversion of the company's subordinated note into
preferred stock over the next 12 months which will drive leverage
(Moody's adjusted) to around 4.5x by year-end 2021.

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

Given Consolidated's current competitive positioning and network
upgrade execution risks, upward pressure is limited but could
develop if leverage was sustained below 4x (Moody's adjusted) and
free cash flow was at least 10% of total debt (Moody's adjusted) on
a sustained basis. An upgrade would also require the company to
maintain a good liquidity profile.

Downward pressure on the rating could arise should Moody's adjusted
debt/EBITDA increase above 5x on a sustained basis or should the
company's liquidity deteriorate or should execution of its growth
strategy materially slow below budgeted expectations.

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

Consolidated Communications, Inc. is a broadband and business
communications provider offering a wide range of communications
solutions to consumer, commercial and carrier customers across a
23-state service area and an advanced fiber network spanning more
than 45,000 fiber route miles. The company maintains headquarters
in Mattoon, IL. During the last 12 months ended June 30, 2020, the
company generated $1.3 billion in revenue.


COVIA HOLDINGS: Unsecured Creditors Get Share of Equity Pool
------------------------------------------------------------
Covia Holdings Corporation and its debtor affiliates submitted a
Plan and a Disclosure Statement.

To address their burdensome balance sheet, in the period leading up
to the Petition  Date, the Debtors began to engage with the
principals and advisors of an ad hoc group  of Holders of the
Debtors' Term Loan Claims (collectively, the "Senior Creditors")
represented by Paul, Weiss, Rifkind, Wharton, & Garrison LLP, as
counsel ("PW"), and Centerview Partners LLC, as financial advisor
("Centerview" and, together with the  Senior Creditors and PW, the
"Term Loan Group").  Following extensive discussions and
negotiations between the Debtors and the Term Loan Group, on June
29, 2020, the Debtors  and the Senior Creditors entered into the
Restructuring Support Agreement, which was amended and restated on
July 7, 2020.

The Reorganized Debtors will emerge from chapter 11 with a New Term
Loan of $825 million (subject to reduction by up to $25 million),
which will be guaranteed by each of the material wholly-owned
direct and indirect subsidiaries of Reorganized Debtors (including,
for the avoidance of doubt, subsidiaries domiciled in Canada and
Mexico), subject to certain exceptions, and secured by liens on
substantially all assets of the Reorganized Debtors and the
subsidiaries providing such guarantees.  In addition, the Debtors
are required to obtain a senior secured revolving credit facility
of at least $100 million, which will be available to the
Reorganized Debtors upon emergence.

The material terms of the Plan and Restructuring Support Agreement
are:

   * Each Holder of an Allowed Secured Tax Claim shall receive at
the option of the Reorganized Debtors: (1) payment in full in Cash
of such Holder's Allowed Secured Tax Claim; or (2) equal
semi-annual Cash payments commencing as of the Effective Date or as
soon as reasonably practicable thereafter and continuing for five
years, in an aggregate amount equal to such Allowed Secured Tax
Claim, together with interest at the applicable non-default rate
under applicable non-bankruptcy law, subject to the option of the
applicable Reorganized Debtor to prepay the entire amount of such
Allowed Secured Tax Claim during such time period.

   * Each Holder of an Allowed Other Secured Claim shall receive at
the option of the Reorganized Debtors (1) payment in full in Cash;
(2) Reinstatement of such Allowed Other Secured Claim,
notwithstanding any contractual provision or applicable
non-bankruptcy law that entitles the holder of such claim to demand
or to receive payment prior to the stated maturity of such Allowed
Other Secured Claim from and after the occurrence of default; (3)
delivery of the collateral securing such Allowed Other Secured
Claim; or (4) such other treatment rendering such Allowed Other
Secured Claim Unimpaired.

   * Each Holder of an Allowed Other Priority Claim shall receive
at the option of the Reorganized Debtors: (1) Cash in an amount
equal to such Allowed Other Priority Claim; or (2) such other
treatment rendering such Allowed Other Priority Claim Unimpaired.

   * Each Holder of an Allowed Secured Term Loan Claim or an
Allowed Secured Swap Agreements Claim, respectively, shall receive
its Pro Rata share of (1) the Excess Cash; (2) the New Term Loan;
and (3) the Financing Claims Equity Pool.

   * Each Holder of a Claim against Covia that is an Allowed
General Unsecured Claim, Term Loan Deficiency Claim, or Swap
Agreements Deficiency Claim shall receive, in full and final
satisfaction of such Allowed Claim, its Pro Rata share of the
Parent Unsecured Claims Equity Pool.

   * Each Holder of a Claim against one or more Debtors other than
Covia that is an Allowed General Unsecured Claim, Term Loan
Deficiency Claim, or Swap Agreements Deficiency Claim shall
receive, in full and final satisfaction of such Allowed Claim, its
Pro Rata share of the Non-Parent Unsecured Claims Equity Pool.

   * All Intercompany Claims shall be, at the option of the
Reorganized Debtors with the consent of the Required Consenting
Stakeholders, (1) Reinstated or (2) distributed, contributed, set
off, settled, cancelled, released, or otherwise addressed.

   * All Intercompany Interests shall be, at the option of the
Reorganized Debtors with the consent of the Required Consenting
Stakeholders, (1) Reinstated in accordance with Article III.G of
the Plan, distributed, contributed, or (2) cancelled, released, or
otherwise addressed.

   * On the Effective Date, Covia Interests will be cancelled,
released, and extinguished without any distribution on account of
such Existing Equity Interests.

   * All Section 510(b) Claims, if any, will be discharged,
cancelled, released, and extinguished as of the Effective Date, and
will be of no further force or effect, and Holders of Allowed
Section 510(b) Claims will not receive any distribution on account
of such Allowed Section 510(b) Claims.

Distributions under the Plan will be funded with, or effectuated
by, as applicable, (a) Cash held on the Effective Date by or for
the benefit of the Debtors, (b) the issuance of the New Common
Equity, (c) the issuance of the New Term Loan, and (d) the issuance
of or borrowings under the Exit Facility Credit Agreement.

A full-text copy of the Disclosure Statement dated August 5, 2020,
is available at https://tinyurl.com/y2jzudl9 from PacerMonitor.com
at no charge.

Co-Counsel to the Debtors:

     Matthew D. Cavenaugh
     Vienna F. Anaya
     Genevieve M. Graham
     Victoria N. Argeroplos
     JACKSON WALKER L.L.P.
     1401 McKinney Street, Suite 1900
     Houston, Texas 77010
     Telephone: (713) 752 -4200
     Facsimile: (713) 752-4221
     Email: mcavenaugh@jw.com
            vanaya@jw.com
            ggraham@jw.com
            vargeroplos@jw.com

     Jonathan S. Henes, P.C. (admitted pro hac vice)
     Joshua A. Sussberg, P.C.
     KIRKLAND & ELLIS LLP
     KIRKLAND & ELLIS INTERNATIONAL LLP
     601 Lexington Avenue
     New York, New York 10022
     Telephone: (212) 446-4800
     Facsimile: (212) 446-4900
     Email: jonathan.henes@kirkland.com
            joshua.sussberg@kirkland.com

            - and -

     Benjamin M. Rhode
     Scott J. Vail
     300 North LaSalle Street
     Chicago, Illinois 60654
     Telephone: (312) 862-2000
     Facsimile: (312) 862-2200
     Email: benjamin.rhode@kirkland.com
            scott.vail@kirkland.com

                About Covia Holdings Corporation

Covia Holdings Corporation and its affiliates --
http://www.coviacorp.com/-- provide diversified mineral-based and
material solutions for the energy and industrial markets. They
produce a specialized range of industrial materials for use in the
glass, ceramics, coatings, foundry, polymers, construction, water
filtration, sports and recreation, and oil and gas markets.

Covia Holdings Corporation, based in Independence, Ohio, and its
affiliates sought Chapter 11 protection (Bankr. S.D. Tex. Lead Case
No. 20-33295) on June 29, 2020.

In its petition, Covia disclosed $2,504,740,814 in assets and
$1,903,952,839 in liabilities. The petition was signed by Andrew D.
Eich, executive vice president, chief financial officer, and
treasurer.

The Hon. Marvin Isgur presides over the case.

The Debtors tapped KIRKLAND & ELLIS LLP, and KIRKLAND & ELLIS
INTERNATIONAL LLP, as counsel; JACKSON WALKER L.L.P., as
co-counsel; KOBRE & KIM LLP, as special litigation counsel; PJT
PARTNERS LP, as investment banker; ALIXPARTNERS, LLP, as financial
advisor; and PRIME CLERK LLC, as claims and noticing agent.


CROSSCODE INC: Unsecured Claims Are Unimpaired in Plan
------------------------------------------------------
Crosscode Inc. submitted a Disclosure Statement and a Plan of
Reorganization.

On May 5, 2020, Crosscode, Inc. filed a voluntary petition under
Chapter 11, Subchapter V of the Bankruptcy Code, commencing its
Chapter 11 Case. The Debtor now proposes and seeks confirmation of
this proposed plan of reorganization. Under the terms of the Plan,
the Debtor proposes to use its remaining cash on hand, the proceeds
of a DIP Facility already approved by the Bankruptcy Court on an
interim basis, and the proceeds of an Exit Capital Raise to finance
its operations during the course of the Chapter 11 Case, pay all
undisputed, unsecured claims in full upon or shortly after the
Effective Date, and to restructure its capital structure and
financial obligations and liabilities.

The Plan proposes to treat the following categories and Classes of
Claims as follows:

   * Class 1A Bridge Note Claims are impaired.  Claims will be
satisfied with New Preferred Stock in Reorganized Crosscode.

   * Class 3 General Unsecured Claims are unimpaired.  The class
will be paid in full in Cash.

   * Class 4A Series A Preferred Stock Equity Interests are
impaired.  The class will be satisfied with New Common Stock in
Reorganized Crosscode.

   * Class 4B Claims Subordinated to Series A Preferred Stock
Equity Interests Under Sec. 510(b) are impaired. Discharged with no
consideration.

   * Class 5A Common Equity Interests are impaired.  The interests
will be cancelled with no consideration.

Class 5B Claims Subordinated to Common Equity Interests Under §
510(b). This class is impaired. Discharged with no consideration.

A full-text copy of the Plan of Reorganization dated August 3,
2020, is available at https://tinyurl.com/yyy7rb3u from
PacerMonitor.com at no charge.

Counsel for the Debtor:

     BAO M. VU
     THOMAS A. WOODS
     ANDREW H. MORTON
     STOEL RIVES LLP
     500 Capitol Mall, Suite 1600
     Sacramento, CA 95814
     Telephone: 916.447.0700
     Facsimile: 916.447.4781
     E-mail: bao.vu@stoel.com
             thomas.woods@stoel.com
             andrew.morton@stoel.com

                       About Crosscode, Inc.

Crosscode, Inc. -- https://www.crosscode.com/ -- designs and
develops application software.  Crosscode, Inc., filed its
voluntary petition under Chapter 11 of the Bankruptcy Code (Bankr.
N.D. Cal. Case No. 20-30383) on May 5, 2020.  In the petition
signed by CEO Greg Wunderle, the Debtor was estimated to have
$100,000 to $500,000 in assets and $1 million to $10 million in
liabilities.  Bao M. Vu, Esq. at Stoel Rives LLP represents the
Debtor as counsel.


CURTIS JAMES JACKSON: Trial Unnecessary in Suit vs William Roberts
------------------------------------------------------------------
In the case captioned Curtis James Jackson, III,
Plaintiff-Appellant, v. William Leonard Roberts, II,
Defendant-Appellee, No. 19-480 (2nd Cir.), the United States Court
of Appeals for the Second Circuit has affirmed the District Court's
ruling granting summary judgment in favor of Defendant William
Leonard Roberts II on the grounds that Jackson's claim of violation
of the Connecticut common law right of publicity is preempted by
the Copyright Act.

Jackson and Roberts are both recognized hip-hop recording artists,
known to the public by their stage names: Jackson is known as "50
Cent" and Roberts is known as "Rick Ross." The dispute arose from
Roberts's use of a sample taken from one of Jackson's best-known
songs, "In Da Club," in a mixtape entitled Renzel Remixes, which
Roberts released for free in 2015, in advance of Roberts's
then-upcoming commercial album, Black Market.

Jackson brought the action against Roberts on Dec. 23, 2015,
alleging that Roberts's use of his voice -- in the "In Da Club"
sample -- and his stage name -- in the track title -- violated his
right of publicity under Connecticut common law. Both parties moved
for summary judgment on the issue of Roberts's liability. Roberts
argued, inter alia, that his use was protected by the First
Amendment, that Jackson's claim was preempted by the Copyright Act,
and that Jackson had no publicity rights associated with "In Da
Club," having transferred them to Shady/Aftermath in the Recording
Agreement.

The district court granted Roberts's motion for summary judgment,
concluding, in an order of Sept. 28, 2018, that, under the
Recording Agreement, Jackson had "surrendered his rights to the use
of his name, performance and likeness associated with the master
recording of 'In Da Club' in connection with the advertising and
marketing of 'Phonograph Records,'" and that his "right of
publicity claim is preempted" because Jackson "cannot assert a tort
action based on the rights that he has contractually surrendered."
Jackson timely appealed.

According to the 2nd Circuit, it is difficult to see how Roberts's
mere use of Jackson's name to identify him as the artist of the
song Roberts samples, and his use of the sound of Jackson's voice,
which is inevitable in sampling Jackson's performance of his song,
"appropriated . . . [Jackson's] reputation, prestige, social or
commercial standing, public interest or other values of [Jackson's]
name or likeness." "No one has the right to object merely because
his name or his appearance is brought before the public, since
neither is in any way a private matter and both are open to public
observation." Nonetheless, Jackson's claim may just barely fall
within the boundaries of Connecticut's right of publicity as
Roberts undoubtedly believed it was to his personal benefit to
include the references to Jackson in his mixtape. The 2nd Circuit
assumed (although without confidence) that the suit would not have
been dismissed by a Connecticut court for failure to state a claim
upon which relief may be granted.

The 2nd Circuit said that, nonetheless, Jackson's claim did not
seek to vindicate any substantial state interests distinct from
those furthered by the copyright law: Roberts did not employ
Jackson's name or persona in a manner that falsely implied
Jackson's endorsement of Roberts, his mixtape, or his forthcoming
album, nor in a manner that would induce fans to acquire or pay
heed to the mixtape merely because it included Jackson's name and a
sound that could be identified as his voice. Compare with
Cardtoons. Nor is Roberts's reference to Jackson's persona in any
way derogatory, or an invasion of Jackson's privacy. See Tushnet,
(suggesting that only right of publicity claims which "further[]
the protection of consumers [against deception], [or the
plaintiff's] reputation[] or privacy" should survive implied
preemption). The substantiality of Jackson's interest in his
invocation of Connecticut's right of publicity is therefore
minimal. Roberts's mere reproduction of a sound that can be
recognized as Jackson's voice, and his small discreet notation that
correctly identifies Jackson as the artist of the sample played, do
not violate any substantial state law publicity interest that
Jackson possesses. To the contrary, the predominant focus of
Jackson's claim is Roberts's unauthorized use of a copyrighted
sound recording that Jackson has no legal right to control.

As Jackson's suit is directed against references to him in the
context of the reproduction, without his authorization, of a sample
from his performance of his famous song, in the absence of any
substantial alleged injury properly within the scope of the
publicity right, the suit constitutes little more than a thinly
disguised effort to exert control over an unauthorized production
of a sample of his work. To the extent that the applicability of
implied preemption depends on an assessment of the substantiality
of the state law interest invoked by the plaintiff, Jackson's
invocation of his right of publicity in this context is at best
sorely deficient, the 2nd Circuit said.

A copy of the 2nd Circuit's Ruling dated August 19, 2020 is
available at https://bit.ly/3c4w7sQ from Leagle.com.

                         About 50 Cent

Born July 6, 1975, Curtis James Jackson III, known professionally
as 50 Cent, is an American rapper, actor, businessman, and
investor.

50 Cent filed for Chapter 11 bankruptcy protection (Bankr. D. Conn.
Case No. 15-21233) on July 13, 2015 with $32.5 million in debt. The
bankruptcy came days after a jury ordered him to pay $5 million to
rapper Rick Ross's ex-girlfriend Lastonia Leviston for a sex tape
scandal.

In July 2016, U.S. bankruptcy court judge approved a Chapter 11
reorganization plan for 50 Cent.  The Plan requires 50 Cent to pay
$18 million to Sleek Audio to settle a judgment, $6 million to
Leviston, and about $4 million to settle a guarantee claim with Sun
Trust Bank, among paying off other creditors over a five-year
period.

In February 2017, U.S. Bankruptcy Judge Ann Nevins discharged Mr.
Jackson's bankruptcy case.


DIVERSITY ENTERPRISES: Case Summary & 8 Unsecured Creditors
-----------------------------------------------------------
Debtor: Diversity Enterprises Inc.
        107 Picnkney Street
        Oldsmar, FL 34677

Business Description: Diversity Enterprises Inc is in the business

                      of rubber products manufacturing,

Chapter 11 Petition Date: September 15, 2020

Court: United States Bankruptcy Court
       Middle District of Florida

Case No.: 20-06910

Debtor's Counsel: Jeffrey S. Ainsworth, Esq.
                  BRANSONLAW, PLLC
                  1501 E. Concord Street
                  Orlando, FL 32803
                  Tel: 407-894-6834
                  Email: jeff@bransonlaw.com

Total Assets: $1,434,966

Estimated Liabilities: $1,855,865

The petition was signed by Krista Mauro, president.

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

https://www.pacermonitor.com/view/FWPZJJI/Diversity_Enterprises_Inc__flmbke-20-06910__0001.0.pdf?mcid=tGE4TAMA


DREAM BIG RESTAURANTS: Court Confirms Liquidating Plan
------------------------------------------------------
The Court entered an order confirming Dream Big Restaurants, LLC's
Second Amended Combined Plan of Liquidation and Disclosure
Statement and Approving Disclosure Statement.

As of and after the Petition Date, TD Bank, N.A., held a properly
perfected first priority security interest in substantially all of
the Debtor's assets including, without limitation, its cash
collateral, in the amount of $7,152,977 (the "Bank's Claim").

The Plan proposes to sell substantially all of the Debtor's assets
to the Asset Purchaser for $5,000,000, which is increased to
$5,150,000 pursuant to the Confirmation Order.

Because the Bank's Claim exceeds the Purchase Price, the Bank is an
undersecured creditor pursuant to 11 U.S.C. Sec. 506(a).

Under the Plan, the Debtor is liquidating and is not continuing in
business after consummation of the Plan.

Judge Helen E. Burris has ordered that the Plan is confirmed under
Sec. 1129(a) of the Bankruptcy Code.

All objections to confirmation of the Plan have been resolved.

The Bank's informal objection is resolved and the Bank votes in
favor of the Plan on the following terms:

   a. The purchase price to be paid by the Asset Purchaser in the
Asset Purchase Agreement is increased from $5,000,000 to
$5,150,000.  The definition of "Purchase Price" in the Plan is
hereby amended consistent with this paragraph 6(a).

  b. Section 3.1.2.2. of the Plan is modified and clarified as
follows:

     "A Secured Claim equal to (A) all proceeds of the Asset Sale
remaining after the payment of (i) all Administrative Claims, (ii)
all Priority Claims, and (iii) the Unsecured Distribution Pool,
plus (B) all amounts to Bank as adequate protection pursuant to any
order of the Bankruptcy Court and (C) any remaining Cash or
accounts receivable of the Debtor.  Bank's Secured Claim under
Section 3.1.2.2(A) is estimated at approximately $3,550,000
(exclusive of adequate protection payments, Cash, and accounts
receivable), but such amount may be higher or lower depending on
resolution of Administrative and Priority Claims and cure payments
made pursuant to Article XI of the Plan."

Based on the Debtor's representations to the Court, Martin Brower's
informal objection to the Plan is resolved as follows: a. Upon the
occurrence of the Effective Date of the Plan, Martin Brower is
authorized and permitted to setoff pursuant to 11 U.S.C. Sec.
553(a) the prepetition overpayments received from the Debtor and
currently held on account in the amount of $32,176.73 against its
prepetition claim of $114,281.  See Proof of Claim No. 47.

Any executor contract or unexpired lease between the Debtor and
Pawnee Leasing Corporation is hereby rejected pursuant to Article
XI of the Plan.

Within seven calendar days after the Effective Date of the Plan,
the Debtor will voluntarily surrender the 2017 Ford Edge (as more
particularly identified in Proof of Claim No. 32) to Ally as
provided in Article 3.2.2 of the Plan at the following location:
Billy Howell Ford in Cummins, Georgia.

                  About Dream Big Restaurants

Dream Big Restaurants LLC operates McDonald's restaurant franchises
at eight locations in Greenville and Greer, S.C.

Dream Big Restaurants sought Chapter 11 protection (Bankr. D.S.C.
Case No. 19-05090) on Sept. 27, 2019, in Spartanburg, S.C. In the
petition signed by Phillip K. Wilkins, authorized member, the
Debtor was estimated to have assets at $1 million to $10 million
and liabilities at $10 million to $50 million.  Judge Helen E.
Burris oversees the case. The Debtor tapped Schafer and Weiner,
PLLC as its general bankruptcy counsel, and Skinner Law Firm, LLC
as its local counsel.


E.E. HOOD: Sets Bidding Procedures for Substantially All Assets
---------------------------------------------------------------
E.E. Hood & Sons, Inc., and Vernco Construction, Inc., ask the U.S.
Bankruptcy Court for the Western District of Texas to authorize the
bidding procedures in connection with the auction sale of
substantially all assets.

The Debtor's primary asset is an office building, shop and yard
located on approximately 10.234 acres in southwestern Bexar County,
Texas, at 17000 Senior Road, bearing Bexar County Appraisal
District Property ID Number 184724.  The Property is bounded on the
west by Senior Road, and on its other sides by land owned by
shareholders of Debtor or their relatives.  The Property is
currently leased to a third party, Auto Truck Transport USA, LLC,
for a term ending in September 2022.

The Debtor does not operate the business conducted on the site.
The Tenant pays approximately $6,000 in base monthly rental, the
Debtor pays real property ad valorem property taxes, the Tenant
pays for insurance and utilities, and the Debtor has general
esponsibility for repairs.  The Debtor also has a variety of
highway construction equipment and materials stored on or near the
Property.  The Tenant has sublet a portion of the Property to
Daimler Trucks North America, LLC.

The Debtor is also holding rental income (including in the registry
of the Bexar County District Clerk)  currently under $35,000
derived from the Property and subject to a turn-over order in favor
of Vernco; such Rental Income less only reasonable and necessary
expenses of the Debtor under the Lease will be paid over to Vernco
upon closing the sale of the Property (unless the Judgment has been
satisfied in full), whether or not Vernco is the successful bidder;
the Sale requires the Successful Bidder to pay ad valorem real
property taxes, including delinquent taxes (the Successful Bidder
may elect to assume, rather than pay, the 2020 taxes).  

The Debtor proposes to sell the Property through a court ordered
sale pursuant to Section 363 of the Code.  Furthermore, it
proposes, as part of such sale, to assign the Lease to the
Successful Bidder.  In connection with the foregoing, the Debtor
has or will, by separate motion, asks the Court to approve its
assumption of the Lease.

The Debtor has not employed a broker, but the Property is known to
generally be on the market and for sale for some time.  It did
obtain an informal broker opinion of value in the range of $900,000
to $960,000, including the opinion that the Lease is under market
in rental rate.  The Bexar County Appraisal District assesses the
Property for 2020 at $769,510 ($604,570 for the improvements and
$164,940 for the land).  The current Tenant has informally offered
to purchase the Property for approximately $400,000.

The Debtor has determined not to employ a broker as the Debtor has
attempted to market the Property over the years, and the senior
lienholder, Vernco Construction, Inc., holds a judgment greatly in
excess of the anticipated value of the Property, and is in
agreement with not further marketing the Property using a
commissioned broker.  Th eDebtor anticipates that the decision
would save the bankruptcy estate approximately $50,000 or more in
brokerage commissions.  

Prior to the Petition Date, the Debtor had been involved in
litigation with a number of parties, including Vernco.  The amount
owing Vernco by the Debtor as set forth in the Abstract of Judgment
was $3,904,753 as of March 31, 2020.  Vernco recovered on a
supersedeas bond in April 2020, leaving the amount owing by the
Debtor to Vernco as not less than $1,704,753 as reflected in
Vernco's proof of claim filed in the Case on July 29, 2020.
Pursuant to the Judgment, Vernco has a first and prior lien on the
Property and Debtor's Equipment subject only to ad valorem taxes.  


The amount owed to the first lien creditor, Vernco, substantially
exceeds any apparent value of the Property, and aside from the
Debtor's Equipment (which the Debtor considers to be salable  scrap
valued for Bexar Appraisal District purposes at under $7,000), and
the Rental Income, the Debtor has no other material assets.  Vernco
has agreed to a sale process, subject to the Court's approval,
under which Vernco would make a minimum credit bid of $700,000
(with Vernco paying all of the normal closing costs) for the
Property.   Any other bidders, if any, would be allowed a process
to submit higher bids, subject to Vernco's right to credit bid up
to the amount of its Judgment.   

By the Bid Procedures Motion, the Debtor asks, inter alia, the
entry of the Bid Procedures Order approving the following
procedures for the sale of the Property:

      
(a) To complete a sale of the Property, subject to consent of
Vernco, the Debtor may select either of the following approaches:
(i) a negotiated sale with a designated purchaser and at a price
acceptable to Vernco; or (ii) an Auction, with Vernco's minimum
credit bid of $700,000.  Under (ii) the auction, any other bid
would need to be a cash bid.  Any sale, including to Vernco, would
be subject to the following terms of the sale: (i) As Is and with
all faults, with respect to the condition of the Property; (ii)
subject to the Lease and the Sub-Lease, provided only that the
Tenant provide a reasonable estoppel letter as to the terms of the
Lease and Sub-Lease for the reliance of Vernco or any other bidder;
(iii) the buyer accepts all Schedule B exceptions applicable to an
owner's policy on the Title Commitment issued by the Title Company,
and will purchase the owner's policy at closing; (iv) all cash paid
at closing, subject only to Vernco's right to credit bid up to the
amount of its judgment; ( v) the buyer pays all normal closing
costs;  (vi ) property conveyed by special warranty deed from the
Debtor; (vii) 2018 and 2019 delinquent real property ad valorem
taxes (of approximately $42,000) and all 2020 real property taxes
would be paid (or as to 2020 assumed) by the buyer; (viii )
recordable Sale Order filed at the closing; (ix) closes within five
business days after entry of the Sale Order; and (ix) the fees or
commissions of any broker used by the buyer would be paid by the
buyer and not from the Debtor or sale proceeds, or if paid by the
Debtor, any commissions would be considered a reduction to the bid
amount in comparison of the offers.

     (b) The Debtor will continue marketing the Property for
potential sale.  All inquiries regarding access to the Debtor's due
diligence materials should be directed to the Debtor's counsel.  

     (c) The Debtor has designated First American Title Insurance
Co. to issue a commitment for an owner's policy of title insurance
to be purchased by the buyer at closing of the sale of the
Property.

     (d) Any offer from a Potential Buyer submitted to the Debtor
must conform to the Basic Terms.

     (e) The Debtor will entertain any offers submitted by brokers,
including a reasonable broker's fee for bringing a proposed buyer;
provided however, the amount of the broker's commission will be
paid by the buyer or will be considered as a reduction to the net
amount of the bid.

     (f) If the Debtor, subject to Vernco's approval, elects to
conduct an auction, it will be a "public outcry" auction.  The Bid
Deadline is 5:00 p.m. (CST) on Sept. 11, 2020.

     (g) Each Proposed Earnest Money Contract (other than Vernco's)
must be submitted to Debtor and Vernco through their lawyers no
later than the Bid Deadline (or such other date as approved by the
Court), and, other than Vernco, will include an earnest money
deposit in an amount of equal to 10% of the initial Proposed Bid,
delivered to the Title Company.

     (h) If an Auction, all Qualified Bidders must attend an
auction sale, to be conducted by the Court and/or counsel for the
Debtor or such as approved by the Court at a location to be
identified in the notice of the Sale Hearing to be served on
interested parties.  At the Auction Sale, bidding for the Assets
will be conducted in minimum incremental bids of $50,000 (or such
smaller increment as Debtor deems appropriate under the
circumstances).

     (j) If an Auction, following the conclusion of bidding, the
Debtor and Vernco, subject to final approval of the Court, will
determine which bid generates the greatest amount for the Judgment
and thereafter for the Debtor's estate.  

     (k) If Vernco is the high bidder, its bid will be deemed a
credit on the Judgment and Debtor will cooperate fully in a closing
of the sale of the Property to Vernco.  In the event that Vernco's
bid exceeds the amount of the Judgment (plus any accrued interest)
then the excess will be paid by Vernco at closing to the Estate.
If Vernco is not the high bidder, then at the closing the sales
proceeds will be paid  directly to Vernco as a credit on the
Judgment (plus any accrued interest) until Vernco's judgment is
satisfied in full, and thereafter any excess will be paid to the
Estate.  

     (l) Upon the conclusion and closing of the sale, if Vernco has
received payment in full of its Judgment (including accrued
interest) whether through payment or credit bidding, then Vernco
will issue a release of its Judgment, in  recordable form, to the
Title Company.  Otherwise,  if Vernco is not the purchaser, Vernco
will  issue a release of the Property from the  Judgment and
Abstracts of the  Judgment, in recordable form to the Title
Company, in exchange for the Sale proceeds.  In the event that the
proceeds of the Sale exceed the amount of $1,704,753, Vernco will
be entitled to receive  accrued and unpaid interest as provided in
the Judgment to the extent in excess of the amount of $1,704,753.

     (m) The sale of the Property will be free and clear of any
liens or claims, including Schedule C items under the Title
Commitment, other than the Lease and ad valorem taxes for 2020 and
subsequent years.  

The Debtor will ask the Court to approve the Successful Bidder,
and, if applicable, the Back-up Bidder, or the Designated
Purchaser, and the sale of the Property, to include the assignment
of the Lease, during the Sale Hearing on Sept. 18, 2020.  The
closing of the sale of the Property will occur on Sept. 25, 2020.

By establishing the Bid Procedures set forth, the Debtor intends to
subject the Property to competing bids from buyers interested
acquiring the Property.  Such procedures will ensure that Debtor
receives the highest and/or otherwise best value for the Property.
Consequently, the fairness and reasonableness of the consideration
to be received by the Debtor will ultimately be demonstrated by a
"market check" through a sales process, which is the best means for
establishing whether a fair and reasonable price is being paid for
the Property.

Contemporaneously with the filing of the Bid Procedures Motion, the
Debtor is filing a motion asking an expedited hearing on the bid
procedures set out.

Because of the need to close the transactions contemplated as
promptly as possible, and the fact the Judgment greatly exceeds the
estimated value of the Property, the Debtor asks that the Court
orders and directs that the order approving the Motion will not be
automatically stayed for 14 days.

                     About E.E. Hood & Sons

Prior to 2014, E.E. Hood & Sons, Inc., operated a construction
business.  Thereafter, its only operations involved the lease of
its real property consisting of approximately 10 acres of land with
a shop and offices located at 17000 Senior Road in Bexar County,
Texas.  It leased the property to tenants for much of the last 5-6
years.  It has no employees.  

Based in Von Ormy, Texas, E.E. Hood & Sons filed a voluntary
petition under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Tex.
Case No. 20-50804) on April 26, 2020.  E.E. Hood & Sons is a single
asset real estate (as defined in 11 U.S.C. Section 101(51B)).  At
the time of the filing, the Debtor had estimated assets of between
$500,000 and $1 million and liabilities of between $1 million and
$10 million.  

Judge Ronald B. King oversees the case.  The Debtor is represented
by the Law Office of H. Anthony Hervol.

On June 4, 2020, the Office of the U.S. Trustee said no official
committee of unsecured creditors has been appointed in the Chapter
11 case of E.E. Hood & Sons, Inc.


ENCINO ACQUISITION: Fitch Cuts LT IDR to 'B', Outlook Negative
--------------------------------------------------------------
Fitch Ratings has downgraded the Long-Term Issuer Default Ratings
(IDRs) for Encino Acquisition Partners Holdings, LLC and Encino
Acquisition Partners, LLC (together, Encino) to 'B' from 'B+'. In
addition, Fitch has downgraded the senior secured second lien term
loan to 'B'/'RR4' from 'BB-'/'RR3'. The Rating Outlook remains
Negative.

Encino's IDR reflects the company's sizable Utica position, which
will allow for years of development, competitive unit economics,
the ability to effectively transport gas out of basin to advantaged
price points, expected leverage of 2.5x-3.0x, and strong hedge
profile.

These considerations are offset by the company's tightening
liquidity position, current inability to generate positive free
cash flow, challenged ability to access debt capital markets, and
relatively high firm transportation costs.

The Negative Outlook reflects Fitch's view that the lack of
material FCF generation in the near term and challenged access to
debt capital markets may make it difficult to refinance the 2023
revolver and term loan due in 2025. Fitch recognizes that Encino
has some time to address the refinancing, and the Negative Outlook
could be removed upon liquidity enhancement actions and
demonstrated access to debt capital markets.

KEY RATING DRIVERS

Results Below Expectations: Fitch expects production to be slightly
lower than planned due to reduced drilling as a result of low
natural gas and NGL prices earlier in the year. Like other natural
gas peers, Encino generated a negative unhedged netback in the
second quarter of 2020 due to lower commodity prices. Fitch expects
EBITDA and FCF will fall below previous expectations for 2020 and
2021. As a result, leverage ratios are expected to exceed previous
negative sensitivities over the next two years.

Tightening Liquidity: Fitch does not expect Encino to generate
positive FCF in 2020 and 2021, which will likely lead to further
borrowings on the revolver. The next maturity is the revolver,
which is not due until 2023 and provides Encino with some time to
address its liquidity position. However, access to capital markets
for most single-B energy companies remains challenged, which limits
Encino's options to address its debt structure.

High Firm Transportation Costs: Encino inherited long-dated firm
transportation agreements for natural gas takeaway, and has
sufficient takeaway capacity for current volumes to areas that have
had advantaged pricing versus in-basin sales. However, Encino's
firm transportation (FT) costs are among the highest of Fitch's
monitored natural gas producers. Management is attempting to
mitigate these costs through higher production and focus on
higher-price condensate drilling. Fitch believes that the need to
meet FT commitments prevents the company from reducing capex and
negates FCF generation.

Sizable Utica Footprint: Encino holds a large wet gas asset base in
the Utica basin, with over 900,000 net acres, 300,000 of which the
company considers to be core. The acreage is spread across the
Utica shale basin, which provides optionality in drilling plans,
allowing EAP to drill dry gas and wet gas wells depending on
economics or pipeline commitments and constraints. Encino is the
second largest producer in the Ohio Utica behind Ascent Resources,
although its production is lower than most of Fitch-rated natural
gas peers. The company has focused on drilling where the condensate
mix is greater to boost overall realized pricing, and has a
relatively high percentage of condensate and NGLs in its production
base relative to peers.

Lower Pricing Offset Production: Encino's production has increased
over 25% since it acquired the Chesapeake Utica shale assets in
4Q18, and Fitch expects a further 20% increase in 2020 as the
company maintains its two rig, two frac drilling program. Encino
has also focused on drilling where the condensate mix is greater to
boost overall realized pricing. Better than expected production
growth, however, has been more than offset by lower natural gas and
NGL pricing from plan, resulting in EBITDA and credit metrics
coming in weaker than Fitch's original assumptions. However,
Encino's credit metrics remain within high single 'B' guidelines
and a robust hedging strategy should provide for some protection in
2020.

Favorable Hedging Policy: Encino intends to have a two to
three-year rolling hedging program, ultimately hedging up to 80% of
total production. Fitch estimates that Encino has approximately 86%
of expected production in 2021 hedged at $2.47 and 65% of expected
2022 production hedged at $2.41. The company also has hedges in
place on condensate, ethane and propane. Fitch views the current
plan of hedging favorably as it reduces cash flow volatility locks
in returns for the company.

DERIVATION SUMMARY

Encino's rating reflects the company's size, relatively low
leverage, and favorable netbacks. Encino is smaller than other
gas-oriented peers at approximately 919 million cubic feet
equivalent per day (mmcfe/d) produced compared with Southwestern
Energy (BB/Negative) at almost 2,211 thousand cubic feet equivalent
per day (mcfe/d) of production, CNX Resources (BB/Positive) at
1,258mcfe/d, and Comstock Resources (B/Positive) at 1,304mcfe/d at
June 30, 2020.

Netbacks during the second quarter of 2020 were challenged by low
natural gas prices. Encino had a negative netback of $0.30/mcfe
compared with positive netbacks for Comstock ($0.43/mcfe) and CNX
($0.29/mcfe). Other natural gas issuers also had negative netbacks,
including EQT
(BB/Positive; -$0.08/mcfe), Antero Resources (B/Negative;
-$0.65/mcfe) and Southwestern
(-$0.33mcfe).

Encino's gathering and transportation costs are among the highest
of its peer group on a per unit basis, but this is partially offset
by the high realized price it receives as its liquids mix at 29% is
high relative to its peers. EAP's leverage is at the low end of the
gas-oriented peers but is expected to increase slightly over the
forecast period due to expectations of negative FCF in 2020 and
2021.

KEY ASSUMPTIONS

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

  -- Henry Hub natural gas price of $2.10/mcf in 2020, and
$2.45/mcf over the long term;

  -- WTI oil price of $38/bbl in 2020, $42/bbl in 2021, $47/bbl in
2022, and $50/bbl over the long term.

  -- Production growing in the low single digits over the forecast
horizon;

  -- Capex of $380 million annually over the forecast horizon;

  -- Any FCF proceeds are applied to debt reduction;

  -- No assumptions of acquisition, divestitures, or
distributions.

RATING SENSITIVITIES

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

  -- Demonstrated ability to access capital markets and generate
free cash flow to reduce debt and enhance liquidity;

  -- Maintenance of mid-cycle debt/EBITDA at or below 2.5x;

  -- FFO-adjusted leverage at or below 2.5x.

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

  -- Inability to generate positive FCF, which results in reduced
liquidity and increased leverage;

  -- Change in financial policy including reduced commitment to
repay debt and reduction in hedging program;

  -- Loss of operational momentum resulting in material production
declines from current levels;

  -- Mid-cycle debt/EBITDA above 3.0x.

LIQUIDITY AND DEBT STRUCTURE

Liquidity Tightening: Encino has a $2 billion reserve-based credit
facility due 2023 with approximately $465 million drawn as of June
2020. Given Fitch's assumptions for capital spending plans combined
with its Henry Hub natural gas price deck, Fitch estimates the
company will generate a FCF deficit for the remainder of 2020 and
2021, although the deficit in 2021 is not expected to be
significant.

The revolver matures in September 2023 while the second-lien term
loan matures in September 2025. Fitch will monitor Encino's ability
to repay the revolver over the next two years so that the company
can successfully extend the maturity of that facility. Fitch notes
that the debt capital markets have been challenging for most
single-'B' energy issuers, which could limit Encino's options.

SUMMARY OF FINANCIAL ADJUSTMENTS

No material financial adjustments.

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).


ERNEST ENTERPRISES: Gets Court's CCAA Initial Order
---------------------------------------------------
The Superior Court of the Province of Quebec for the district of
Montreal issued an order declaring that Ernest Enterprises (MTL)
Ltd. is a debtor company to which the Companies' Creditors
Arrangement Act applies.  The Court appointed Ernst & Young as
monitor and granting certain relief measures to the Company.

Copy of the initial order together with information pertaining to
the CCAA proceedings, can be accessed at
http://www.ey.com/ca/ernest.

Persons requiring information not available on the Monitor's
website should contact the Monitor by phone at 416-943-3102 or at
1-888-338-1763.  The Monitor can be reached at:

   Ernst & Young Inc.
   900 Boul. De. Maisonneuve Quest
   Bureau 2300
   Montreal Quebec H3A 0AB
   Tel: +1 514-875-6060
   Fax: +1 514-879-2600

   Martin P. Rosenthal
   Tel: (514) 879-6549
   Email: martin.rosenthal@ca.ey.com

   Jean-Daniel Breton
   Tel: (514) 874-4455
   Email: Jean-Daniel.Breton@ca.ey.com

   Corey Geenen
   Tel: (514) 879-8270
   Email: Corey.Geenen@ca.ey.com

Attorneys for the Monitor:

   Norton Rose Fulbright Canada LLP
   1, Place Ville Marie
   Bureau 2500
   Montreal, Quebec, H3B 1R1
   Tel: (514) 847-4747

   Sylvain Rigaud
   Tel: (514) 847-4702
   Email: sylvain.rigaud@nortonrosefulbright.com

Attorneys for the Company:

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

   Guy P. Martel
   Tel: (514) 397-3163
   Email: GMartel@stikeman.com

   Danny Duy Vu
   Tel: (514) 397-6495
   Email: DDVu@stikeman.com

   William Rodier-Dumais
   Tel: (514) 397-3298
   WRodierDumais@stikeman.com

Ernest Enterprises (MTL) Ltd. -- https://www.ernest.ca/en/ -- sells
ready-to-wear clothing and accessories.


FAIRWAY GROUP: Optium Buying Transferred Rights for $640K Cash
--------------------------------------------------------------
Fairway Group Holdings Corp., and debtor affiliates, ask the U.S.
Bankruptcy Court for the Southern District of New York to authorize
the sale and assignment of their rights arising from and relating
to their claims and causes of action related to the Visa and/or
MasterCard payment processing networks and the associated fees
charged by Visa and MasterCard, as a class member and potential
beneficiary of the putative consolidated class action entitled In
re Payment Card Interchange Fee and Merchant Discount Antitrust
Litigation (Case No. 05-MD-1720 (MKB) (JO)) pending in the U.S.
District Court for the Eastern District of New York, all documents
evidencing or relating to the Claims, and all rights, fees,
expenses, damages, penalties, and other amounts in respect of or in
connection of the Claims, to Optium Fund 3, LLC, pursuant to the
executed Asset Purchase Agreement, dated as of Aug. 24, 2020, for
$640,000, cash.

As the Court and parties in interest are aware, the Debtors have
been engaged in a comprehensive sale process to sell and wind down
their business for maximum value.  In an effort to maximize value
for their estates, the Debtors established bidding procedures for
the Transferred Rights that are specifically tailored to maximize
the value of the Transferred Rights and minimizing administrative
costs.

Pursuant to the Transferred Rights Bidding Procedures, the Debtors
began soliciting bids on the Transferred Rights from potential
buyers in late July 2020.  In total, the Debtors and Mackinac
contacted 13 potential bidders and received indications of interest
from nine parties.  The Debtors received four bids for the
Transferred Rights, including the proposal from Optium.  The
proposal from Optium was the highest and best proposal.  The
Debtors were also advised by the other bidders that they would not
increase their proposed purchase price.  

Accordingly, they determined that further auction would be unlikely
to elicit an increased purchase price for the Transferred Rights,
and decided to proceed directly to a sale of the Transferred Rights
to Optium.  Pursuant to the Purchase Agreement, the Debtors will
assign the Transferred Rights to Optium for a cash purchase price
of $640,000, a significant achievement for the Debtors and their
estates.  The Transferred Rights will be sold free and clear of any
and all liens, claims, interests, and other encumbrances, with any
such liens, claims, interests, and encumbrances to attach to the
proceeds of the applicable sale.  The only secured party in these
cases are the prepetition lenders and DIP Lenders, who consent to
the sale.  

The potential sale of all of the Debtors' assets has been
well-known and advertised since the commencement of these cases.
The Debtors are not aware of any party with an interest in the
Transferred Rights other than the Ad Hoc Group, which, as noted, is
supportive of the Sale Transaction.  Accordingly, the Court can
make the findings proposed in the Sale Order that Optium will not
be liable under theories of successor liability in connection with
the Claims or Transferred Rights.

In light of the current circumstances and financial condition of
the Debtors, the Sale Transaction must be consummated as soon as
practicable.  Accordingly, the Debtors ask that the Sale Order be
effective immediately upon entry of each such order and that the
14-day stay periods under Bankruptcy Rules 6004(h) and 6006(d) be
waived.  

A copy of the Westbury APA is available at from
https://tinyurl.com/yywm6d7v PacerMonitor.com free of charge.

                      About Fairway Group

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

Fairway Group Holdings Corp. and 25 affiliated companies sought
Chapter 11 protection (Bankr. S.D. N.Y. Lead Case No. 20-10161) on
Jan. 23, 2020.  

In the petitions signed by CEO Abel Porter, the Debtors were
estimated to have $100 million to $500 million in assets and
liabilities.  

Judge James L. Garrity, Jr., is assigned to the cases.

The Debtors tapped Weil, Gotshal & Manges LLP as legal counsel;
Peter J. Solomon and Mackinac Partners, LLC as financial advisor;
and Omni Agent Solutions as claims, noticing and solicitation
agent.


FC COMPASSUS: Moody's Alters Outlook on B3 CFR to Positive
----------------------------------------------------------
Moody's Investors Service affirmed FC Compassus, LLC's B3 Corporate
Family Rating ("CFR") and B3-PD Probability of Default Rating
("PDR"). At the same time, Moody's upgraded the company's senior
secured first lien bank credit facilities to B2 from B3. The
outlook was revised to positive from stable.

The upgrade of the first lien credit facility rating reflects
Compassus' issuance of a $75 million second lien senior secured
term loan (unrated), and the loss absorption provided by this new,
junior debt in the capital structure. Proceeds from this debt
issuance and approximately $64 million of new equity from its
equity sponsors were used to fund the purchase a 50% ownership
share in Ascension at Home for approximately $130 million, which
closed in July.

The positive outlook reflects Moody's expectation that Compassus
will be able to successfully integrate Ascension at Home and reap
the associated benefits of greater scale, and broader service
offering in the rapidly growing home health and infusion sectors.
The outlook also reflects Moody's expectation that company's
position as Ascension Health Alliance's ("Ascension") exclusive
preferred provider of hospice services will result in improved
profitability, supporting gradual deleveraging with debt/EBITDA
approaching the five times range in the next 12 to 18 months.

Rating Actions:

Upgrades:

Issuer: FC Compassus, LLC:

Sr. Secured First Lien Bank Credit Facilities, Upgraded to B2
(LGD3) from B3 (LGD4)

Affirmations:

Issuer: FC Compassus, LLC:

Corporate Family Rating, Affirmed B3

Probability of Default Rating, Affirmed B3-PD

Outlook Actions:

Issuer: FC Compassus, LLC:

Outlook, Changed to Positive from Stable

RATINGS RATIONALE

The B3 CFR reflects the company's moderate absolute size, the
presence of considerable competition in a fragmented industry and
high pro forma debt-to-EBITDA leverage of 5.7x for the LTM period
ended June 30, 2020 (on Moody's adjusted basis). The rating also
reflects Compassus' high revenue concentration from Medicare and
various state Medicaid programs (combined roughly 88% of total
revenue) and the increasing regulatory oversight of the industry.
Moody's expects that there will be continued focus by the
government on implementing measures to contain health care costs,
as well as regulations around improving reporting quality and
compliance, which may unfavorably impact Medicare reimbursement
over the next few years. Financial strategies are somewhat
aggressive, as acquisitions will supplement organic growth, which
may be funded by debt and create integration risks.

The rating is supported by anticipated synergy realization from
Compassus being designated as Ascension's exclusive preferred
provider of hospice service, across its footprint nationwide.
Moody's also believes that hospice, home health, and infusion
services should benefit from favorable long-term growth prospects
that are driven by aging demographics and growing awareness of the
benefits of services for patient experience and reducing health
care costs. Demand for these services has been somewhat negatively
impacted by the coronavirus pandemic, which has constrained some
patient demand and raised costs. In addition, Moody's anticipates
that Compassus' capital expenditures will remain modest and that
the company will generate positive free cash flow.

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

Moody's could consider a rating upgrade if the company is able to
profitably increase its scale, diversify its payor base, and
maintain financial and acquisition policies that support
debt/EBITDA below 5.5 times, and free cash flow to debt of at least
5%, on a sustained basis. An upgrade would also be dependent upon
company's ability to successfully execute on its preferred provider
role of hospice services for Ascension, nationwide.

The ratings could be downgraded if a weakening of operating cash
flow or increase in investment needs leads to negative free cash
flow, or if the company's liquidity deteriorates. Ratings could
also be downgraded if acquisitions or shareholder distributions
lead to significant deterioration in its credit metrics. Declining
admissions, challenges integrating Ascension at Home, or an adverse
impact from changes in the regulatory environment, such as a
reduction in reimbursement rates, could also result in a
downgrade.

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

Compassus is among the nation's largest private independent hospice
operators. Prior to the acquisition of Ascension at Home, the
company provided care to over 8,500 patients via 86 programs and
143 hospice and 3 home health locations across 29 states. In July,
Compassus purchased an ownership share in Ascension at Home, a
provider of services primarily in-home health, but also hospice and
infusion therapy, across 34 home health and 22 hospice locations.
For the twelve months ended June 30, 2020 the company generated pro
forma net revenues of approximately $726 million. Compassus is
owned by equity sponsor TowerBrook Capital Partners L.P. and
Ascension TowerBrook Healthcare Opportunities, L.P., a
co-investment vehicle, of which Ascension Capital is the sole
limited partner.


FLORIDA FIRST: HOO Buying All Assets of First Florida for $2M
-------------------------------------------------------------
First Florida Living Options, an affiliate of Florida First City
Banks, Inc., asks the U.S. Bankruptcy Court for the Southern
District of Florida to authorize the sale of substantially all its
assets to Hawthorne Ocala Operations, LLC ("HOO") for $2 million,
subject to adjustments set forth in their Operations Transfer
Agreement, subject to overbid.

The Debtor determined that it would be in the best interests of its
creditors and its estate to maximize value of its assets through a
sale of substantially all of its assets.  It initiated the
marketing process months before the bankruptcy case was filed and
now asks to sell such assets.  Absent such a sale, the Debtor would
most likely be facing a liquidation under Chapter 7 of the
Bankruptcy Code which would achieve far less for creditors than a
sale as a going concern.

On Aug. 28, 2019, the Debtor filed its application to approve the
engagement of Marcus & Millichap Real Estate Investment Service of
Florida, Inc.  as broker to market for sale its skilled nursing and
assisted living asset.  As set forth in the Marcus Application and
the Representation Agreement, the compensation to be paid to Marcus
in connection with the engagement is 6% of the purchase price of
the Purchased Assets.

On Aug. 3, 2020, the Debtor and HOO executed the HOO OTA, which
provides for the sale by the Debtor, and the purchase by HOO, of
the Purchased Assets.  The obligation of HOO to close on the HOO
OTA is conditioned on, among other things, entry by thw Court of a
final, non-appealable order granting the Sale Motion.  The
Purchased Assets are to be sold and the Debtor will convey the
Purchased Assets free and clear of any and all liens, claims, and
encumbrances.

The Debtor's assets includes its right, title and interest in and
to (i) that certain Lease dated Dec. 1, 2011 by and between Ocala
33rd Avenue, LLC and the Debtor, and (ii) all assets of Debtor
located at or relating to the operation of the Debtor's assisted
living facility and nursing home commonly known as Hawthorne Inn of
Ocala and Hawthorne Health and Rehab located at 4100 S.W. 33rd
Avenue, Ocala, FL 34474 ("Facility") and to assume the operation of
the Facility to HOO or to such other prospective purchaser who is
determined to have submitted a higher and better offer for the
Purchased Assets at the Auction.

The consideration to be paid by HOO for the Purchased Assets will
be the total amount of $2 million, subject to adjustments set forth
in the HOO OTA.  The Purchase Price is allocated pursuant to the
HOO Allocation Agreements.  To ensure that the sale process is
open, fair, and efficient, the Debtor has filed a separate motion
asking entry of a separate order approving the Bid Procedures
Motion.

From the Purchase Price, the amount of $300,000 will be reserved by
HOO in connection with the indemnification provisions set forth in
the OTA.  The Indemnification Holdback will be held in connection
with certain types of indemnification claims more specifically set
forth in the OTA and will be released, after application of claim
amounts, in six monthly installments beginning on the date that is
six months following the date of closing, as more specifically set
forth in the OTA.  

HOO has posted a deposit in the total amount of $50,000 in
connection with the OTA.  The Debtor will ask a deposit from other
Bidders to be posted in escrow with Johnson Pope Bokor Ruppel &
Burns, LLP, its bankruptcy counsel, in connection with the
submission of a bid by a competing bidder.  As set forth in the
OTA, HOO is purchasing the Purchased Assets on an As-Is, Where-Is
basis, except as specifically set forth in OTA.

In consideration of the purchase and sale of the Purchase Assets,
HOO will pay the Purchase Price as follows: $1.7 million of the
Purchase Price, less the HOO Deposit, will be deposited in escrow
with the Title Company and released to the Debtor at the Closing.
Thereafter, the remaining $300,000 of the Purchase Price will be
paid by HOO to the Debtor in six equal monthly installments of
$50,000 each, beginning on the date that is six months following
the Closing and continuing monthly thereafter for five additional
months.  The Purchase Price will be adjusted at the Closing in
accordance with the provisions of the OTA; provided that
adjustments related to operational matters will be set forth on the
settlement statement for the OTA, unless the parties otherwise
agree.

Subject to approval by the Court in connection with the Bid
Procedures Motion, the Debtor has sought approval of a break-up fee
equal to $60,000, that will be paid only to the New Operator under
the OTA.  The parties to the OTA have each agreed that the
Indemnification Holdback Escrow ill cover the indemnification
obligations of the Transferor under Section 15 of the OTA.  

To establish a fair and competitive process for submission of
competing bids for the Debtor's assets, on Aug.7, 2020, the Debtor
filed its Bid Procedures Motion, asking approval of bid procedures
to ensure the highest and best offer for its assets.  On Aug. 25,
2020, the Court entered an Order granting the Bid Procedures Motion
and approving the Debtor's proposed bid procedures, a break-up fee
and a minimum overbid amount.

By the Sale Motion, the Debtor also asks authority to assume and/or
assign to the Buyer all of their right, title and interest in and
to the executory contracts, leases, and agreements as set forth in
the HOO OTA, specifically the Assumed Contracts, Provider
Agreements, Resident Agreements free and clear of all liens,
claims, and encumbrances.  Its assumption and/or assignment to HOO
of the Transferred Debtor Contracts is conditioned upon the
approval of the Court and the closing of the transactions
contemplated by the HOO OTA as well as the resolution of any
objections to such assumption and/or assignment filed with the
Court.

HOO has agreed to assume all agreements with patients and residents
of the Facilities as of the Effective Time (including individuals
temporarily not in occupancy) regarding admission and residency at
the Facilities, which will provide significant benefit to the
residents. HOO has sufficient assets to provide adequate assurance
of future performance of these obligations.

The sale of the Purchased Assets, as contemplated by the HOO OTA,
may be accomplished pursuant to and in contemplation of the
confirmation of a plan of reorganization.  If sold in connection
with a confirmed plan, the Debtor asks that the making or delivery
of an instrument or instruments of transfer, any or all of which
include the vesting, transfer and/or the sale of any real or
personal property or any direct or indirect interest therein, not
be taxed under any law imposing any recording, registration,
transfer or stamp tax or fee, or any similar tax or fee.

The Court has scheduled a hearing on the Sale Motion for Nov. 19,
2020 at 1:30 p.m.

A copy of the Contract is available at https://tinyurl.com/y4ogapje
from PacerMonitor.com free of charge.

                   Florida First City Banks

Florida First City Banks, Inc., is a privately held company that
operates in the banking industry.  Florida First City Banks sought
Chapter 11 protection (Bankr. S.D. Fla. Case No. 20-30037) on Jan.
15, 2020.  In the petition signed by Robert E. Bennett, Jr.,
president, the Debtor disclosed total assets of $5,448,525 and
liabilities of $12,680,735.  The Debtor tapped Steven J. Ford,
Esq., at Wilson, Harrell, Farrington, Ford, Et Al., as counsel.    
                   


FOXFIRE CONSOLIDATED: Seeks Approval to Hire Real Estate Broker
---------------------------------------------------------------
Foxfire Consolidated Owners Association, Inc. seeks authority from
the U.S. Bankruptcy Code for the Eastern District of North Carolina
to hire Robert Tramantano, a real estate broker at Great Neck
Realty Company.

Mr. Tramantano will market and sell Debtor's interest in certain
real and personal properties, including 15 condominium units in
Jackson Springs and Village of Foxfire, N.C.

The broker  will receive a 6 percent commission on the sales
price.

Mr. Tramantano disclosed in court filings that he is
"disinterested" within the meaning of Section 101(14) of the
Bankruptcy Code.

The firm can be reached through:

     Robert Tramantano
     Great Neck Realty Company
     1011 S. Hamilton Road, Suite 300
     Chapel Hill, NC 27517
     Phone: (984) 528-3619

              About Foxfire Consolidated Owners Association

Foxfire Consolidated Owners Association, Inc. sought protection for
relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.C.
Case No. 20-02784) on Aug. 7, 2020, listing $1 million in both
assets and liabilities.  Judge David M. Warren oversees the case.


Debtor has tapped Hendren, Redwine & Malone, PLLC as its bankruptcy
counsel and Jordan Price Wall Gray Jones & Carlton, PLLC as its
special counsel.


GCI LLC: Moody's Rates Proposed $900MM Credit Facility 'Ba2'
------------------------------------------------------------
Moody's Investors Service assigned a Ba2 rating to GCI, LLC's
proposed amended and extended $900 million senior secured bank
credit facility consisting of a $350 million senior secured Term
Loan B (due 2025), and $550 million senior secured revolving credit
facility (due 2025). Moody's affirmed the B2 Corporate Family
Rating (CFR), B2-PD Probability of Default (PDR), B3 rating on the
existing $325 million unsecured notes (due 2024) and $450 million
unsecured notes (due 2025), and Ba2 rating on the existing senior
secured credit facility. The SGL-2 speculative grade liquidity
rating is maintained. The outlook is stable.

Assignments:

Issuer: GCI, LLC

Senior Secured Bank Credit Facility, Assigned Ba2 (LGD2)

Affirmations:

Issuer: GCI, LLC

Corporate Family Rating, Affirmed B2

Probability of Default Rating, Affirmed B2-PD

Senior Secured Bank Credit Facility, Affirmed Ba2 (LGD2)

Senior Unsecured Regular Bond/Debenture, Affirmed B3 (LGD5)

Outlook Actions:

Issuer: GCI, LLC

Outlook, Stable

GCI will upsize to the existing Term Loan B by $114 million
(amended and extended to $350 million, due 2025) and is expected to
use the incremental proceeds to refinance a portion of its existing
unsecured notes. As part of the refinancing (the "Refinancing"),
the maturity on the existing $550 million revolver will also be
extended to 2025. At close (the "Close") of the Refinancing Moody's
will withdraw the Ba2 on the existing senior secured credit
facility.

On August 6, GCI Liberty and Liberty Broadband Corporation
announced [1] that they had signed an agreement for a combination.
In the Merger, Liberty Broadband Corporation will become GCI's
Parent entity (referred to herein as "Parent"). The Merger will be
executed in a stock-for-stock exchange in which the Parent will
acquire all the outstanding shares of Series A common stock, Series
B common stock, and Series A Cumulative Redeemable Preferred Stock
of GCI Liberty. As a result of the proposed Merger, John Malone
(the "largest shareholder") will have beneficial ownership of not
more than approximately 49% of the Parent's aggregate outstanding
voting power, with exchange rights to preserve his power for
dilutive events. John Malone currently has 27.5% of the vote at GCI
Liberty. The proposed Merger will also combine the largest
shareholder's two cable related investments into one, simplified
holding structure. Subject to the receipt of stockholder votes,
regulatory approvals and other customers conditions, the Parties
anticipate that the Merger will close in 2021.

Moody's views the Refinancing, and planned Merger, overall, as
credit negative to GCI. Positively, the Merger and Refinancing will
substantially increase the amount of Charter stock held by GCI's
Parent, generate some interest savings, and result in an extended
maturity profile. However, Moody's views it as credit negative
overall since the Merger will shift the net asset value of GCI's
current ownership in Liberty Broadband shares, worth approximately
$5.5 billion (and the related collateralized margin loan) outside
the corporate family. Additionally, the Refinancing will weaken
covenant protections with elimination of the 6.5x total net
leverage maintenance test in the existing credit agreement, the
addition of a fall-away provision to the $3 billion minimum net
asset restricted payment test (remains in place until the Merger or
refinancing of the 2024 notes), and increase debt marginally. Upon
completion of the Merger, and any future refinancing of the 2024
notes, GCI will have flexibility under its debt agreements to
distribute its investments in publicly owned shares, including
Charter and Lending Tree, to its Parent. Moody's believes those
investments, which have appreciated, combined with the Charter
stock at Liberty Broadband Corporation will be readily available to
periodically recapitalize GCI when necessary, consistent with past
practice.

RATINGS RATIONALE

The credit profile is constrained by moderate governance risk. The
company's largest shareholder has a history of managing assets in
complex organizational structures, executing tax-free asset swaps
among separately managed companies, and using a high degree of
financial engineering to optimize investment returns while
balancing credit risk. The location, value, mix, and accessibility
of pledged and unpledged assets both within the corporate family,
and outside, can vary with limited restrictions, making the
permanence of the corporate structure uncertain. Additionally,
while financial policy has generally been balanced, with moderate
leverage (between 4x-5x), no dividends paid, and a history of
equity contributions to the GCI, the company's debt agreement
permits higher leverage with total debt incurrence up to 6.5x.
Moody's also views negatively, the company's small operational
scale and limited geographic diversity with regional concentration
in one state, which has experienced a weak economy that is highly
dependent on oil markets. Strong competition, and a secular decline
in pay-tv video and wireline voice, weigh on operating performance.
Regulatory risks are also a constraint, with a significant
percentage of revenue derived from government subsidies and
regulated pricing which can result in lower revenues and delayed
cash collection cycles, causing significant working capital
deficits. In combination with the capital-intensive nature of the
business and its interest burden, the company has been periodically
dependent on equity contributions to cover its variability in cash
flows which can be negative.

GCI's credit profile is supported by its significant unencumbered
assets, though GCI will have the flexibility under its debt
agreements to distribute these assets to its Parent upon the
closing of the Merger and any future refinancing of the 2024 notes.
GCI's credit profile also benefits from potential support from its
Parent, which will own shares of Charter Communications, Inc.
(Charter, Ba2 stable) common stock worth close to $38 billion if
the Merger is consummated. Pro forma for the planned Merger,
Moody's expects the Charter stock owned by GCI will be about 2x
rated debt, and total assets (including Evite and Lending Tree) to
be over 3x. Moody's estimates Charter stock owned outside GCI, net
of loans, will be approximately $30 billion or more than 20x GCI
rated debt. GCI Liberty is the largest shareholder of Charter with
total fully diluted equity ownership of approximately 22.2% (24.4%
pro forma for the Merger) which Moody's believes is critically
important to the reporting structure of GCI's parent. The
telecommunications operating company is also the leading
communications provider in Alaska delivering a quad of services
with significant market share in each. Strong broadband demand
drivers support stable to modest organic revenue growth, and good
EBITDA margins in the mid to high 30% range. The business model has
a high mix of recurring revenues from a large base of mostly small
residential customers.

GCI's SGL-2 speculative grade liquidity rating reflects good
liquidity supported by cash balances of near $90 million, solid
availability of at least $275 million under the $550 million
revolver, ample headroom under loan covenants, and very substantial
alternate liquidity in the value of unencumbered assets.

The senior secured bank credit facility (including the Term Loan B
and Revolving Credit Facility) is rated Ba2 (LGD2), three notches
higher than the B2 CFR. Lift is supported by substantial senior
unsecured claims which represent nearly 50% of the capital
structure. Moody's rates the unsecured notes B3 (LGD5), one notch
below the CFR, reflecting its junior claim relative to the senior
secured bank facility. Instrument ratings incorporate a B2-PD
probability of default rating and an expectation of an average
recovery in bankruptcy (e.g. 50%) given the mixed capital
structure, with both senior and junior claim priorities. Lease
rejection claims and trade payables are insignificant to instrument
ratings given their small claim sizes relative to funded debt.

A subsidiary of GCI is borrower on a $500 million committed
revolving facility provided by GCI's Parent which provides
approximately one notch of lift to both the secured and unsecured
ratings. GCI management has confirmed that the facility will remain
an obligation of a GCI subsidiary following the contemplated
Merger. If the committed facility is partially reduced or fully
eliminated, the instrument ratings (both secured and unsecured)
could be downgraded by 1 notch assuming no other changes in the
financial profile or debt structure.

The rapid and widening spread of the coronavirus outbreak,
deteriorating global economic outlook, falling oil prices, and
asset price declines are creating a severe and extensive credit
shock across many sectors, regions and markets. The combined credit
effects of these developments are unprecedented. Moody's regards
the coronavirus outbreak as a social risk under its ESG framework,
given the substantial implications for public health and safety.

Moody's believes telecommunication service providers generally have
less exposure than many other sectors, and expect increased demand
for voice, video and data during the current crisis are likely to
temporarily improve operating performance metrics. As of June 30,
the company was able to grow revenue generating data and wireless
subscribers by 7,800 and 7,700 year to date, respectively. Video
viewership and engagement are rising sharply, with subscribers
spending an extraordinary amount of time watching TV for news and
entertainment comfort with the complete shut-down of US cinemas.
Broadband data demand has increased significantly, and usage is
more evenly distributed with the sudden and very sharp rise in
remote workers. Most of the US workforce (excluding essential,
front-line workers) are now using their internet full-time, for
voice, data, and video communications. Additionally, online
commerce and remote learning are drawing significant demand for
communication services. Moody's realizes there will be significant
disruption to direct selling, on-premise installations and service,
payments from residential and small and medium sized businesses,
advertising, certain programming (sports and new production /
content), and operations (component supply chains, construction /
network upgrades). However, Moody's expects any temporary negative
implications will most likely to partially or fully offset by the
favorable effects of the pandemic.

The stable outlook reflects its expectation that debt and annual
revenues and EBITDA will average approximately $1.5 billion, $900
million, and up to $340 million, respectively over the next 12-18
months. Moody's projects EBITDA margins in the mid to high 30%
range. Net of capital spending (with capex to revenue averaging
near 15%, as reported) and the burden of interest expense (equal to
near 4.75% of debt), Moody's expects annual free cash flow to
average at least $100 million over the next 12-18 months, depending
on swings in working capital which is highly variable due to
unpredictable government collection cycles. Its annual revenue
growth projections assume video will, on average, fall by
mid-single digit percent, wireless will be flat to up by low
single-digit percent, and data will average 2%-4%. Moody's expects
the leverage ratio to remain inside its tolerances and liquidity to
remain good.

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

Ratings could be upgraded if gross debt/EBITDA (Moody's adjusted)
is sustained below 4.5x, free cash flow to debt (Moody's adjusted)
is sustained above 7.5%, and there is not a material and
unfavorable change in the value, mix, accessibility, or location of
unpledged assets held inside or outside the corporate family. A
positive rating action could also be considered if the Company's
liquidity profile improved, there were favorable changes in
regulations, scale or diversity increased, operating performance
stabilized or improved, financial policy was more conservative, or
governance risk moderated.

The ratings could face downward pressure if gross debt/EBITDA
(Moody's adjusted) is sustained above 5.5x, free cash flow to debt
(Moody's adjusted) is sustained below 2.5% or there was a material
and unfavorable change in the value, mix, accessibility, or
location of pledged or unpledged assets held inside or outside the
corporate family. A negative rating action could also be considered
if liquidity deteriorated, financial policy turned more aggressive,
or parental support was considered unlikely.

GCI owns and operates interests in a broad range of communications
businesses. Its principal operating asset is a leading integrated,
facilities-based communications provider based in Anchorage,
Alaska, offering local and long-distance voice, wireless, video,
and data services to consumer and commercial customers throughout
the state. GCI also holds equity interests in Charter (2%) Liberty
Broadband (23%, which owns approximately 22% of Charter stock),
Evite (100%), and Lending Tree (26%). The company generated
approximately $920 million in revenue for the last 12 months ended
June 30, 2020.

The principal methodology used in these ratings was
Telecommunications Service Providers published in January 2017.


GENERAL CANNABIS: Appoints New Chief Financial Officer
------------------------------------------------------
General Cannabis Corp has named Diane Jones as chief financial
officer.  Jones brings deep experience in accounting and financial
planning and has held key executive positions at publicly-held
companies.  She becomes a member of the Company's senior management
team as it expands its operations within Colorado and maintains a
continued focus on creating and driving shareholder value across
its business.

Prior to joining General Cannabis Corp, Ms. Jones served as
corporate controller for the Americas at Cardino.  Before that, she
was worldwide controller and senior director of Shared Financial
Services at Arrow Electronics and earlier served as assistant
corporate controller at Ball Corporation.  She began her career as
a CPA with Ernst & Young.  Ms. Jones has taught accounting as an
adjunct professor at the Daniels College of Business at the
University of Denver and received a BBA from Texas A&M and and MBA
from the University of Houston.

Steve Gutterman, CEO of General Cannabis Corp and a member of its
Board of Directors said: "We're fortunate to add a CFO of Diane's
deep functional expertise, skills, and technical knowledge in all
aspects of corporate finance and accounting.  She's worked across
multiple industries, within public companies, and in all sized
environments, which will be critical for us as we continue to grow
our business, pursue M&A targets and add additional strategic
capital needed to fund our growth objectives.  As we do so, we will
be diligent in our commitment to ensuring that our controls and
accounting meet or exceed best practices.  Diane will be central to
those efforts."

General Cannabis Corp also announced a change in the composition of
its Board of Directors, as its three independent Directors --Peter
Boockvar, Mark Green and Seth Oster -- have decided to step down
after nearly a decade of collective service on the Board. Said Adam
Hershey, Board member and shareholder: "We are appreciative of the
many contributions Peter, Mark and Seth have made.  They have been
invaluable to the growth and development of General Cannabis,
helping guide the company through challenging periods and working
to protect shareholder interests.  We are grateful to them."

The Board has elected Carl Williams, Richard Travia and Barker
Dalton to replace Boockvar, Green and Oster.  Williams, who will
become Chairman of the Board and an independent director, has
extensive company building experience, having lead private and
public companies for over 30 years.  Travia, who will join as an
inpedendent director, brings an extensive background in finance and
investment management within private and public companies. Dalton,
who will join as a director, has built an expansive reputation
within the cannabis industry as founder and managing director of
SevenFive Farm, Boulder County's first purpose-built cannabis
greenhouse facility, which General Cannabis Corp acquired in May
2020 in an equity deal that established Dalton as one of the
company's largest shareholders.

Said Gutterman, "Our new Board members are well-suited to support
management, oversee corporate governance, and add shareholder
value.  Carl is a seasoned operator and leader who will provide
significant mentorship in his role as Chairman of the Board.
Richard's knowledge about the cannabis capital markets will help us
grow; and Barker has been a fantastic partner ever since we
acquired SevenFive, and his knowledge about the Colorado cannabis
market is extensive.  We are fortunate to have them helping lead us
forward."

Over the past several months, General Cannabis Corp has continued
to establish itself as a leader among Colorado cannabis businesses.
It has refined its business strategy to focus on acquiring and
operating licensed cannabis facilities throughout the state --
transitioning out of unprofitable business lines and investing
resources in support of an M&A strategy that led to its successful
acquisition this past May of SevenFive Farm.  The Company continues
to enjoy strong performance from its Next Big Crop cultivation
consulting business.  In May, General Cannabis Corp became one of
the only publicly-held cannabis companies to receive regulatory
approval from the State of Colorado, authorizing it to acquire
licensed cannabis facilities.  And the Company received a
significant capital infusion from Hershey Strategic Capital and
Shore Ventures III totaling $3 million in equity capital to grow
the business and enhance enterprise value.

Additional background on the new members of General Cannabis Corp's
Board of Directors:

Carl Williams

Mr. Williams' career in financial services includes several high
profile industry positions.  He was the Chairman and CEO of Planet
Payment (Nasdaq: PLPM), a company that processes merchant payments
internationally.  Williams led the sale of Planet Payment to the
Fintrax Group, a leader in payment processing. Previously he was
President of World Wide Payment Processing for Global Payments
(NYSE: GPN).  He also served as President of the Merchant Services
Division of National Processing Company, a processor of credit
card, debit and check transactions.  He holds a BA from La Salle
University in Philadelphia.

Richard Travia

Mr. Travia is an experienced cannabis investor and company builder
who founded Wildcat Advisory Group and Wildcat Investment
Management.  Wildcat Advisory Group is a diversified business and
investment consultant that advises small and medium size public and
private companies, institutional investors such as family offices,
private equity funds and hedge funds, and institutional-quality
service providers.  Wildcat Investment Management provides
investment management services. Prior to launching Wildcat, Richard
co-founded Tradex Global Advisors and Tradex Global Advisory
Services.  While at Tradex, Richard served as the COO and
Compliance Officer of the firm, Director of Research for the fund
of hedge funds business and Head of Risk Management for the single
hedge fund business Richard graduated from Villanova University
with a Bachelor's Degree in Economics.

Barker Dalton

Mr. Dalton is the founder and managing director at SevenFive Farm,
Boulder County's first purpose-built cannabis greenhouse facility.
He has over a decade of experience in the cannabis industry.  Mr.
Dalton built SevenFive Farm from the ground up, overseeing all
elements of the business from construction to cultivation to sales.
Under his stewardship, SevenFive Farm has become a leading
supplier of wholesale cannabis products, known for quality and
consistency.  Mr Dalton created SevenFive after living for five
years in Costa Rica, working in sustainable development.  His focus
was on site study, master design and material sourcing.  Prior to
working in Costa Rica, Mr Dalton gained significant retail
experience as the co-owner of Robb's Music.

                 About General Cannabis Corp

Headquartered in Denver, Colorado, General Cannabis Corp --
http://www.generalcann.com/-- provides services to the cannabis
industry. The company is a trusted partner to the cultivation,
production and retail sides of the cannabis business.  It achieves
this through a combination of strong operating divisions, capital
investments and real estate.

General Cannabis reported a net loss of $12.46 million for the year
ended Dec. 31, 2019, compared to a net loss of $16.97 million for
the year ended Dec. 31, 2018.  As of June 30, 2020, the Company had
$8.41 million in total assets, $12.18 million in total liabilities,
and a total stockholders' deficit of $3.77 million.

Marcum LLP, in Melville, NY, the Company's auditor since 2019,
issued a "going concern" qualification in its report dated May 14,
2020, citing that the Company has a significant working capital
deficiency, has incurred significant losses and needs to raise
additional funds to meet its obligations and sustain its
operations.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern.


GROWLERU FRANCO: Unsecureds to Get 7.3% of Their Claims in Plan
---------------------------------------------------------------
GrowlerU Franco, LLC, submitted a Plan and a Disclosure Statement.

As of the date of the filing of the bankruptcy petition, the
Debtor's Assets consist personal property assets.  The Debtor has
no real property assets.  The Debtor's personal property includes:
cash, bank account(s), office furniture, machinery and equipment.

Class 1 Allowed Unsecured Claims are impaired under the Plan.  The
holders of allowed unsecured claims in Class 1 shall be paid a pro
rata share of Net Settlement Proceeds in full and final
satisfaction of their Allowed Unsecured Claims, without interest,
on the Effective Date of the Plan.  Allowed Unsecured Claims in
Class 1 are estimated to total $4,070,000.  Each creditor in Class
1 is estimated to receive approximately 7.3% of their allowed
unsecured claims.

Class 2 Equitable Interests are impaired under the Plan.  The
holders of pre-petition member interests in the Debtor shall retain
such interests to the same extent and in the same priority as their
prepetition interests upon confirmation of the Debtor's Plan.  The
member interests in the Debtor in Class 2 will be subject to the
provisions of the Debtor’s Plan.

A full-text copy of the Disclosure Statement dated August 3, 2020,
is available at https://tinyurl.com/y3ay7uo5 from PacerMonitor.com
at no charge.

Counsel for the Debtor:

     Jeffrey A. Weinman, #7605
     WEINMAN & ASSOCIATES, P.C.
     730 17th Street, Suite 240
     Denver, CO 80202-3506
     Telephone: (303) 572-1010
     Facsimile: (303) 572-1011
     E-mail: jweinman@weinmanpc.com

                     About Growleru Franco

GrowlerU Franco LLC, which conducts business under the name Growler
USA, owns and operates a chain of pubs. It offers alcoholic
beverages and dining services.

Based in Centennial, Colo., GrowlerU Franco filed a voluntary
Chapter 11 petition (Bankr. D. Colo. Case No. 19-20102) on Nov. 22,
2019. At the time of the filing, the Debtor was estimated to have
assets of between [$1 billion to $10 billion] and liabilities of
between $1 million to $10 million.

Judge Thomas B. Mcnamara oversees the case.

The Debtor tapped Jeffrey Weinman, Esq., as bankruptcy counsel;
Pedro Robles as accountant; and Allen Vellone Wolf Helfrich &
Factor P.C. as special counsel.


GUARDION HEALTH: John Townsend Quits as Controller & CAO
--------------------------------------------------------
Effective as of Sept. 2, 2020, John Townsend resigned as the
controller and chief accounting officer of Guardion Health
Sciences, Inc.  Mr. Townsend's resignation was not the result of
any disagreement with the Company, any matter related to the
Company's operations, policies or practices, the Company's
management or the Company's board of directors.

                  About Guardion Health Sciences

Headquartered in San Diego, California, Guardion --
http://www.guardionhealth.com/-- is a specialty health sciences
company (i) that has developed medical foods and medical devices in
the ocular health marketplace and (ii) that is developing
condition-specific nutraceuticals that the Company believes will
provide medicinal and health benefits to consumers.

Guardion Health reported a net loss of $10.88 million for the year
ended Dec. 31, 2019, compared to a net loss of $7.77 million for
the year ended Dec. 31, 2018.  As of June 30, 2020, the Company had
$14.03 million in total assets, $1.34 million in total liabilities,
and $12.69 million in total stockholders' equity.

Weinberg & Company, P.A., in Los Angeles, California, the Company's
auditor since 2015, issued a "going concern" qualification in its
report dated March 30, 2020 citing that the Company has experienced
recurring losses and negative operating cash flows since inception.
These matters raise substantial doubt about the Company's ability
to continue as a going concern.


HARTSHORNE HOLDINGS: $435K Private Sale of Assets to Castlen Okayed
-------------------------------------------------------------------
Judge Alan C. Stout of the ask the U.S. Bankruptcy Court for the
Western District of Kentucky authorized the private sale by
Hartshorne Holdings, LLC and its affiliates of their dock site
equipment, raw coal stacker, and clean coal stacker located in
McLean County, Kentucky, more particularly described on Exhibit A,
to Castlen Marine, LLC for the aggregate cash consideration of
$435,000.

The Sale Agreement, together with all of the terms and conditions
thereof, is approved.

The sale is free and clear of any and all liens, claims, and
encumbrances against the Purchased Assets, with such liens, claims,
and encumbrances to attach to the proceeds of the sale.

The Order constitutes a final and appealable order.
Notwithstanding Bankruptcy Rules 6004(h) and 6006(d), the Court
expressly finds that there is no just reason for delay in the
implementation of the Order, and expressly directs entry of
judgment.  The Order will be effective immediately upon entry, and
the Debtors and the Purchaser are authorized to close the sale
transaction contemplated by the Sale Agreement immediately upon its
entry.  Time is of the essence in closing the transaction, and the
Debtors and the Purchaser intend to close the transaction as soon
as practicable.   

A copy of the Exhibit A is available at
https://tinyurl.com/y3kngxpp from PacerMonitor.com free of charge.

                    About Hartshorne Holdings

Hartshorne Holdings, LLC and affiliates 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; FTI Consulting,
Inc. as financial advisor; and Perella Weinberg Partners LP as
investment banker. Stretto is the claims agent, maintaining the
page https://cases.stretto.com/hartshorne

The Office of the U.S. Trustee appointed a committee of unsecured
creditors on March 10, 2020.  The committee is represented by
Dentons Bingham Greenebaum LLP and Whiteford Taylor Preston, LLP.



HENLEY PROPERTIES: Pham Buying 34-Acre Goodman Vacant Land for $70K
-------------------------------------------------------------------
Henley Properties, LLC, asks the U.S. Bankruptcy Court for the
Western District of Missouri to authorize the sale of the 33.8
acres of vacant land located at 000 Lightning Bug, Goodman,
Missouri to Andrew Pham for $70,000, under the terms of the Sale
Contract for Vacant Land.

The following sales costs, liens of record, and other charges and
expenses related to the sale are to be paid out of the sale
proceeds at the time of closing in the estimated amounts as
indicated:

      (a) Recorded liens of record in the amounts indicated: Lien
of First Community Bank, in the amount of $55,000 net sales
proceeds to be applied to payoff loan balance);  

      (b) Other charges and expenses in the amounts as indicated:
2020 real estate taxes (prorated); and

      (c) Other charges and expenses in the amounts as indicated:
Commission in the amount of 8%, to be paid pursuant to agents
listing agreement.   

Objections, if any, must be filed no later than 10 days of the date
of the notice.

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

                   About Henley Properties

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

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


HIGHLAND SALON: Unsecureds Will be Paid 100% Without Interest
-------------------------------------------------------------
Highland Salons, LP, filed a First Amended Plan of Reorganization
under chapter 11 of the Bankruptcy Code proposes to pay creditors
of Highland Salons, LP. from the sale of its primary asset, the
office building located at 21720 Highland Knoll Drive, Katy, Harris
County, Texas 77450 ("Office Building").

The Plan provides for one (1) class of secured claims; one (1)
class of unsecured claims; and one (1) class of equity security
holders.  Unsecured creditors holding allowed claims will receive
distributions under the Plan equal to 100 percent of their claims.
This Plan also provides for the payment of administrative and
priority claims to the extent permitted by the Code or the
claimant's agreement.

Class 2 Secured Claim of Compass Bank is impaired. The amount owing
under the Note is $1,103,858.  Payments during the 16-month period
will be in the amount of $5,000 per month for the first six months,
then $6,000 per month for the next six months and then $7,000
beginning in month 13.  The payments will be applied to the
interest and fees accruing thereon, and then to the Principal
Balance in accordance with the Note.

Class 3 General Unsecured Creditors are impaired.  General
Unsecured Claims will be paid in full, without interest within 30
days from the Closing of the sale of the Debtor's Office Building.
This Class shall be paid 100% of their claims with interest at the
rate of 5.0% per annum from the Effective date until paid.

A full-text copy of the Disclosure Statement dated August 5, 2020,
is available at https://tinyurl.com/y6xm4p3k from PacerMonitor.com
at no charge.

Attorney for the Debtor

     PETER JOHNSON
     LAW OFFICES OF PETER JOHNSON
     1738 Sunset Boulevard
     Houston Texas 77005
     Telephone (713) 961-1200
     pjohnson@pjlaw.com

                            About Highland Salons LP

Highland Salons LP was founded in 2003 by its current family
owners, Manuel Guevara and his spouse Manuel Guevara who
incorporated the entity under Texas Law for the purpose of
constructing a retail sundries and fuel facility to be located on
the expanding Katyarea in Northwest Harris County, Texas.

In 2003 the Guevaras acquired a parcel of real property containing
10,440 square feet, located at 21720 Highland Knoll Drive, Katy,
Harris County, Texas 77450. The Guevaras invested their own funds
and obtained a construction loan. In 2012, the Debtor obtained a
loan from U.S. Small Business Administration administered by
Compass Bank ("SBA Loan") in the amount of $1,320,000. Guevara
constructed the building to house independent salon and spa
professionals in Katy, Texas. Currently 50 available stations
exist, with over 24 rented at an average rate of $250 per week.

Highland Salons sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Tex. Case No. 19-30540) on Feb. 1,
2019. At the time of the filing, the Debtor disclosed $3,553,410 in
assets and $1,019,255 in liabilities. The case is assigned to Judge
David R. Jones. The Debtor tapped Law Office of Peter Johnson as
its legal counsel.  

No official committee of unsecured creditors has been appointed in
the Chapter 11 case.


HILLJE MUSIC: Unsecureds Will Get 7.8% of Their Claims in Plan
--------------------------------------------------------------
Hillje Music Centers, LLC, filed a Plan and a Disclosure
Statement.

Through the Plan, Debtor proposes to pay all administrative
priority and priority creditors in full, with applicable statutory
interest on such claims; the secured creditors, Bexar, Comal and
Kendall Counties in full, with applicable statutory interest on
such claims; the secured claim of the Internal Revenue Service in
full, with statutory interest; the secured claims of Vantage Bank
Texas in full; and the partially secured claims of creditors'
Marlin Business Bank and BGE Financial Corporation in the sums of
set forth herein, with 6.25% interest thereon; general unsecured
creditors and the undersecured portion of partially secured
creditors’ claims would receive an estimated 7.8% of their
allowed claims.

Class 11 General unsecured/undersecured Claims totaling $960,078
are impaired.  Creditors holding allowed unsecured claims in Class
11 shall receive 7.8% of the allowed amount of their claims within
60 months of the Effective Date.  The Debtor estimates the total
aggregate amount payable to this Class as a whole will be
approximately $74,886.

The Plan will be funded utilizing a combination of funds on hand as
of the Effective Date, and funds generated from the future
operations of the company, and funds contributed by the equity
owners of the entity.

A full-text copy of the Disclosure Statement dated August 3, 2020,
is available at https://tinyurl.com/y5frvklp from PacerMonitor.com
at no charge.

                   About Hillje Music Centers

Hillje Music Centers, LLC -- https://hilljemusic.com/ -- owns and
operates music supply stores located throughout the San Antonio
area. It provides instrument rentals, service, and repairs. Its
music stores also offer lessons for guitar, piano, drum, violin,
trumpet, and saxophone.

The company filed a Chapter 11 petition (Bankr. W.D. Tex. Case No.
20-50074) on Jan. 6, 2020.  In the petition signed by Scott M.
Hillje, member, the Debtor was estimated to have between $1 million
and $10 million in both assets and liabilities.  Judge Ronald B.
King is assigned to the case.  The Law Office of H. Anthony Hervol
represents the Debtor.


HOLOGIC INC: Moody's Rates New $950MM Unsec. Notes Due 2029 'Ba2'
-----------------------------------------------------------------
Moody's Investors Service assigned a Ba2 rating to Hologic, Inc.'s
proposed $950 million senior unsecured notes due 2029. Proceeds
from the new senior notes will be used to redeem the company's
existing $950 million senior unsecured notes due 2025. The outlook
is stable.

"The refinancing transaction will extend maturities and reduce
interest expense in a leverage neutral manner, a credit positive"
says Moody's Vice President Kailash Chhaya.

Consequently, there is no change to the company's existing Ba1
Corporate Family Rating (CFR), Ba1-PD Probability of Default
Rating, Baa3 senior secured ratings, Ba2 senior unsecured rating
and SGL-1 Speculative Grade Liquidity rating. On 11 September,
Moody's upgraded Hologic's ratings reflecting an improvement in
Hologic's financial metrics and the expectation that financial
leverage will continue to remain moderate even during the
coronavirus pandemic.

Rating Assigned:

$950 million senior unsecured notes due 2029 at Ba2 (LGD5)

Rating to be withdrawn upon close:

$950 million senior unsecured notes due 2025 at Ba2 (LGD5)

RATINGS RATIONALE

Hologic's Ba1 CFR rating reflects its good scale, leading market
positions within its core franchises and good revenue diversity by
product and customer. The rating is also supported by the recurring
nature of a significant proportion of the company's revenues which
are generated from service contracts and consumables. Further, the
company generates good free cash flow, has strong interest coverage
and has moderate financial leverage. Moody's estimates that the
company's adjusted debt to EBITDA was approximately 3.0x for the
twelve months ended June 30, 2020.

The rating is constrained by Hologic's exposure to general medical
utilization trends and hospital capital equipment spending,
particularly in the US. The company's rating is also constrained by
industry-wide challenges including customer pricing pressure as
well as payors' increased focus on value-based healthcare. The
ratings are also constrained by technology obsolescence risk and
competition by much larger medical products companies, requiring
Hologic to constantly invest in innovation in order to remain
competitive.

Hologic's SGL-1 Speculative Grade Liquidity Rating reflects Moody's
expectation for very good liquidity over the next 12-18 months.
This is supported by healthy cash balances and Moody's expectation
of annual free cash flow in excess of $500 million. That level of
free cash flow will be more than sufficient to satisfy Hologic's
modest debt maturities and other cash needs. The company does not
pay dividends but does opportunistically repurchase its own shares
using internal cash.

The stable rating outlook reflects Moody's view that Hologic will
continue to increase its scale by sustaining low to
mid-single-digit organic growth and tuck-in acquisitions. The
outlook also reflects Moody's expectation that Hologic will refrain
from making significant acquisitions or outsized share
repurchases.

Environmental risks across medical device companies are relatively
low with respect to air, water and soil pollution, water shortages
and carbon regulation. Medical device companies face moderate
social risk primarily related to responsible production and
satisfactorily responding to social and demographic trends. For
Hologic, the social risks are moderate and are primarily associated
with responsible production including compliance with regulatory
requirements for the safety of medical devices as well as adverse
reputational risks arising from recalls associated with
manufacturing defects. With respect to governance, Hologic has
expressed commitment to balance its shareholders' interest with
that of debtholders'.

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

Moody's could upgrade the ratings if Hologic can sustain revenue
growth and maintain profitability such that adjusted debt to EBITDA
declines below 2.5 times. Declining reliance on the more cyclical
capital equipment portion of its business and maintaining a
conservative financial policy could also support an upgrade.

Moody's could downgrade the ratings if the company's operating
performance weakens significantly or if it executes material
debt-funded acquisition and/or share repurchases that result in
debt to EBITDA being sustained above 3.5 times.

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

Hologic, Inc. (Hologic; NASDAQ: HOLX) is a leading developer,
manufacturer and supplier of premium diagnostic products, medical
imaging systems and surgical products with an emphasis on women's
health. The company's core business units focus on the areas of
molecular diagnostics, breast health, gynecological surgical, and
skeletal health. Revenues for the last twelve months were
approximately $3.4 billion.


HOPE ACADEMY: Fitch Affirms 'B' Issuer Default Rating
-----------------------------------------------------
Fitch Ratings has affirmed the following revenue bonds issued by
the Michigan Finance Authority on behalf of Hope Academy (Hope) at
'B':

  -- $7,985,000 public school academy limited obligation revenue
bonds (Hope Academy project), series 2011.

In addition, Fitch has affirmed the school's Issuer Default Rating
(IDR) at 'B'.

The Rating Outlook is Stable.

SECURITY

Bonds are general obligations of Hope, which assigns up to 20% of
state allocated per-pupil foundation allowance to the trustee for
debt service. The trustee intercepts the pledged revenues from the
state of Michigan monthly for bond debt service, prior to remitting
excess funds to Hope.

Additionally, bondholders benefit from a property mortgage and a
standard, cash-funded debt service.

ANALYTICAL CONCLUSION

The 'B' IDR and bond rating reflect the school's high leverage
metrics given its weaker revenue defensibility characteristics and
midrange operating risk assessment. The rating also reflects the
school's slim available liquidity with reliance on short-term
borrowing to support cash flow timing mismatches during the
academic year.

KEY RATING DRIVERS

Revenue Defensibility - Weaker: The weaker revenue defensibility
assessment reflects Hope Academy's volatile enrollment history and
limited demand flexibility.

Operating Risk - Midrange: Fitch believes the school has midrange
flexibility to vary cost with enrollment shifts and expects fixed
carrying costs for debt service to remain moderate.

Financial Profile - 'b': Hope's leverage metrics, including both
debt and Fitch's estimate of the school's current net pension
liability, are expected to remain elevated.

Asymmetric Additional Risk Considerations: The school's liquidity
cushion is slim at approximately 3% of annual governmental fund
expenditures in fiscal 2019. The school is reliant on market access
to maintain sufficient liquidity during each fiscal year.

RATING SENSITIVITIES

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

  -- Enrollment levels that are close to management's ideal
capacity and improved academic performance;

  -- A sustained decline in leverage metrics due to improved
margins and cash flow, leading to improved debt service coverage
and increased available cash and equivalents;

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

  -- A decline in per-pupil funding that is more significant than
what Fitch anticipates in its current stress case scenario without
additional offsetting expenditure measures taken by the schools;

  -- Weakening academic performance that leads to enrollment
declines and concerns about the ability of the school to maintain
its charter and continue operations;

  -- Enrollment declines that reduce revenues and weaken the
financial condition of the school;

  -- The loss of the school's charter.

CREDIT PROFILE

Hope is a K-8 charter school located near the historic district of
Detroit, MI. Hope was established in 1998 and has received six
charter renewals since, most recently in June 2020 for a five-year
term that expires in 2025.

CURRENT DEVELOPMENTS

Sector-Wide Coronavirus Implications

The outbreak of coronavirus and related government containment
measures worldwide has created an uncertain global environment for
U.S. state and local governments and related entities. Fitch's
ratings are forward-looking in nature, and Fitch will monitor the
severity and duration of the budgetary impact on state and local
governments and incorporate revised expectations for future
performance and assessment of key risks.

While the initial phase of economic recovery has been faster than
expected, GDP in the U.S. is projected to remain below its 4Q19
level until at least 4Q21. In its baseline scenario, Fitch assumes
continued strong GDP growth in 3Q20 followed by a slower recovery
trajectory from 4Q20 onward amid persisting social distancing
behavior and restrictions, high unemployment and a further pullback
in private-sector investment.

Hope Coronavirus Update

On March 13, Governor Whitmer issued an executive order to
temporarily close schools, and on April 2 and April 30 the governor
issued another executive order that closed in-person instruction
for the remainder of the school year and provides continuity of
learning plans. Following the school closure order, Hope
transitioned to remote learning. The school developed and submitted
to the state a Continuity of Learning operational plan, which
specifically outlines Hope's strategies to support their student's
needs (mental health, nutritional, academic, and safety). In
addition, Hope has provided laptop devices for students to work
remotely, implement remote teaching, developed project-based
learning activities, distributed instructional packets, and
implemented multiple modes of learning to continue to support
student academic progress. Hope will begin the 2020-2021 school
year virtually during the month of September and will continue to
monitor state guidance on re-opening plans.

Hope received $290,000 from the Elementary and Secondary School
Emergency Relief (ESSER) Education Stabilization Fund and an
additional $41,000 in Foundational Funding to help offset the cost
of transitioning to a remote learning environment (costs include
technology, equipment, telecommunication, and PPE). In addition,
the state allocated the school $180,337 of their Coronavirus Relief
Funds (CRF) in the form of an additional $350 per pupil allocation
as well as $12.32 per pupil allocation specifically for coronavirus
costs.

The school's fiscal 2021 budget includes a slight reduction in
state revenues (reflecting the school's expectation for a decline
in per-pupil funding), although overall revenues are expected to
marginally increase over the 2020 budgeted amounts due to higher
federal and local (in-kind) revenues. Expenditures in fiscal 2020
are budgeted to align with the marginal increase in revenues.
Overall, the school's fiscal 2021 budget is expected to yield a
$81,400 surplus.

As of August 2020, the school had available cash and cash
equivalents totaling $478,904 or 1.5 months of school cash flow. As
in the prior years, the school borrowed $750,000 through state aid
notes in September 2020 to help manage liquidity and cash flow
mismatches. Including the proceeds of the state aid note, total
available liquidity for operations is approximately $1.2 million.

Additionally, the school's charter was renewed in June 2020 for an
additional five-year term ending 2025.

State Education Funding

The state of Michigan operates on a Sept. 30 fiscal year end and
the state has not yet adopted a budget for the upcoming fiscal year
2021. In July, the state passed supplemental budget legislation to
close a $2.2 billion budget gap. The supplemental budget included a
reduction in the state's August 2020 school aid distribution for
K-12 schools by $175 per pupil. To help offset the decline, the
state allocated a portion of its CARES Act monies to fund per-pupil
payments of $350 to districts and charter schools, but these monies
are restricted to CARES Act-related spending items.

The impact of the coronavirus pandemic on school funding for fiscal
2021 is not clear at this time; however, Fitch expects funding
could be significantly affected by the impact of coronavirus
mitigation on state revenues.

Revenue Defensibility

Hope's weaker revenue defensibility is driven by the school's
volatile enrollment history, limited demand flexibility, declining
service area population, and academic performance below statewide
averages. Typical of the charter school sector, revenue
defensibility is limited by the inability to control pricing as the
school's main revenue source is derived from per pupil revenue from
the state.

Hope's enrollment has had periods of both substantial growth and
decline. The school initially began serving grades K-6 before
adding a 7th grade in fall 2011 and 8th and 9th grades in fall
2012. The 9th grade was a one-year pilot program which was
discontinued. After some initial volatility, enrollment growth was
solid for existing grade levels (K-6) from fiscal 2009 to 2013.
Enrollment in K-8 then declined significantly, to 502 students in
fall 2016 from 703 in fall 2013. Management attributes the decline
in enrollment to changing neighborhood demographics and general
population declines in Detroit. In addition, at the beginning of
the 2013-2014 school year Hope was identified as a 'Priority
School', which means it was an under-performing school with
academic achievement among the lowest 5% of all Michigan schools.
Fitch believes that this likely contributed to weaker enrollment
demand as well.

Hope implemented a three-year transformation plan in 2014. In
January 2017, Hope was removed from the state's priority list due
to satisfactory progress in implementing the transformation plan
and progress toward academic objectives. The improvement appears to
have positively affected enrollment, which grew slightly in fall
2017 and 2018 (by 2% and 4%, respectively). In academic year
2019-20, Hope's enrollment declined to about 500 (or -6%).
Management attributes the decline to the COVID-19 pandemic as well
as a small number of students moving outside of the school's
catchment area. Demand flexibility is weak as enrollment remains
significantly below both management's ideal capacity (675) and the
facility limit (765). Management currently anticipates a sharp 10%
rebound in enrollment for the upcoming 2020-2021 academic year,
with total enrollment increasing to 551 (535 K-8 students and 16
Pre-K students).

In March 2020, the U.S. Department of Education granted waivers to
all 50 states that allow states to bypass all testing requirements
included in Every Student Succeeds Act for the 2019-2020 academic
year. As a result, there were no statewide assessments administered
in Michigan. Using statewide assessment scores from the 2018-2019
academic year, Hope's results were weak compared to statewide and
county averages despite the school's removal from the state's
priority list but have been generally in line with neighboring
schools and averages across all schools in the Detroit Public
Schools Community District.

Hope did conduct academic assessments through NWEA (formerly
Northwest Evaluation Association) in Fall 2019 and Winter 2020
school wide. Assessment results through the NWEA assessments
indicated that the school's performance in both English, Language,
and Arts (ELA) and Mathematics increased notably.

The ultimate impact of the coronavirus pandemic on school funding
is ongoing and is likely to be to be affected as coronavirus
mitigation efforts continue to impact state revenues. Over the
longer term, Fitch expects per-pupil funding to grow at
approximately the rate of inflation, consistent with school
districts in the state

Operating Risk

Fitch considers the school's operating risk profile to be midrange,
based on its moderate fixed carrying costs and demonstrated ability
to control other expenditures during past periods of enrollment
volatility. The school has well-identified cost drivers with
moderate potential volatility.

Adequate expenditure flexibility is provided by management's strong
degree of control in managing its workforce costs, which are not
governed by collective bargaining agreements. However, practical
limitations include the limited ability to reduce teacher
headcount, since doing so could impair the school's already weak
academic performance, potentially further reducing student demand
and increasing costs. Fitch recognizes that management can control
salaries and reduce some other costs in a recessionary period,
supporting the midrange operating risk assessment. In fiscal 2015
through 2017, when Hope experienced a substantial decline in
enrollment and state aid, management was able to decrease
expenditures and finished each year with balanced to marginally
positive results.

Hope's fixed carrying costs for maximum annual debt service are
midrange at about 16% of expenditures. Prior to fiscal 2015, Hope
was a participant in the Michigan Public School Employees'
Retirement System (MPSERS). During fiscal 2014, Hope changed to a
management-company structure with BFDI Educational Services (BES)
as the management organization. All Hope employees were then hired
by the management company, which effectively terminated Hope's
active participation in MPSERS.

Financial Profile

Hope's leverage is consistent with a 'b' assessment given the
school's revenue defensibility and operating risk assessments.

The 'b' financial profile assessment incorporates the school's
narrow operating margins, slim unrestricted cash balances, and high
leverage. Net debt (including Fitch-calculated estimate of the
school's legacy net pension liability) to cash flow available for
debt service (CFADS) has been elevated, although it has declined
from notably from over 13.0x to about 9.0x over the past five
years. The decline reflects the amortization of the school's
Fitch-estimated pension liability and stable cash flow over the
time period.

Fitch's analysis incorporates the remaining deferred inflows for
pensions in fiscal 2018 and 2019 but assumes that the school will
have no responsibility related to the pension plan by fiscal year
end 2020.

While the impact of the coronavirus pandemic on school funding is
not clear at this time, Fitch expects state per-pupil revenues to
decline from fiscal 2020 levels. As such, Fitch's base case assumes
revenues will experience a sharp decline in year one consistent
with the largest historical decline in per-pupil funding
experienced. Fitch assumes revenues will begin to gradually recover
in year 2 and year 3. Fitch expects current enrollment levels to
remain constant over the scenario period.

In this scenario, leverage metrics increase in year one as CFADS
declines by roughly 20% compared to the prior year. Leverage
metrics begin to improve in year two and continue into year three
as margins begin to recover and cash flow improves. Use of
unrestricted cash to cover deficits also results in a lower
liquidity cushion during the scenario years, but cash is not
depleted, and Fitch would expect these levels to be rebuilt once
balanced operations are restored. By year three of the scenario
period, leverage metrics remain elevated but return to levels
consistent with current leverage metrics.

Given the low rating level, Fitch does not believe the rating case
provides additional insight into the risk of default. Fitch
believes the margin of safety remains satisfactory for a 'B' rating
given the school's previously demonstrated ability to weather
extensive enrollment volatility and funding challenges.

Fitch does not consider the state aid intercept in its evaluation
of credit quality, as state aid payments are contingent on the
school's ability to continue operating.

Asymmetric Additional Risk Considerations

Fitch views Hope's liquidity as slim, with a ratio of unrestricted
cash to annual governmental fund expenditures of only about 3% in
fiscal 2019. Positive operating performance in fiscal 2019 helped
build up the school's cash position on a nominal basis
(unrestricted cash increased from $45,000 in 2018 to $139,000 in
fiscal 2019); however, the liquidity cushion remains narrow
compared to annual expenditures.

Hope routinely uses state aid notes (secured by state per-pupil
funding) to smooth cash flow during the academic year. The
liquidity ratio does not reflect this borrowing as it is repaid by
fiscal year-end. Fitch views the reliance on short-term financing
as part of the asymmetric risk since the inability to obtain
financing could result in significant cash flow pressures and
likely result in the depletion or near depletion of unrestricted
liquid resources. Hope gradually lowered the state aid note amount
in recent academic years, from $950,000 in fiscal 2017 to $770,000
in in fiscal 2018 (16% of expenditures) and $750,000 in fiscal
2019, 2020 and the current fiscal year but still remains reliant on
external financing.

In addition to the sources of information identified in Fitch's
applicable criteria specified below, this action was informed by
information from Lumesis.

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).


HUBBARDS CABINS: Seeks to Use Cash Collateral
---------------------------------------------
Hubbards Cabins LLC asks the U.S. Bankruptcy Court for the Eastern
District of Kentucky, London Division, for interim authority to use
cash collateral.

According to Hubbards Cabins, Mulligan Funding, LLC, Wise Funding,
and Smart Business Funding may claim an interest in Cash Collateral
based on merchant cash advance loans:

     -- Mulligan Funding, LLC is owed roughly $57,700 on account of
a Merchant Agreement and a UCC-1 filing on accounts, good,
inventory, equipment, etc.;

     -- Wise Funding is owed roughly $68,000 on account of a
Merchant Sales Agreement and a UCC-1 filing on all assets of the
Debtor; and

     -- Smart Business Funding is owed roughly $40,400 on account
of a Merchant Cash Advance Agreement and a UCC-1 filing on accounts
receivables.

The Debtor seeks to use Cash Collateral as set forth on the Budget;
provided, however, that it does not exceed the total Budget amount
by more than 10%. Any expenditure which would cause the Debtor to
exceed the total Budget by more than 10% shall require the approval
of the Court or consent of the Cash Collateral Creditors.

Like many small businesses, the Debtor's operations were severely
curtailed by the COVID-19 pandemic although business has returned
to approximately 50% of the prepandemic level. To maintain
operations during the pandemic the Debtor delayed payments to a
prior third-party lender for units which were repossessed and
resold and obtained merchant cash advances which are repaid by
daily debits from the Debtor's bank account. While the Debtor's
business has begun to recover, it is unable to fund operations and
service the merchant cash advance debts.

In consideration of the Cash Collateral Creditors' consent to the
use of the Cash Collateral by the Debtor and as part of the
adequate protection for any diminution in the value of the Cash
Collateral Creditors' interests in the prepetition collateral,
pursuant to 11 U.S.C. sections 361 and 363, the Debtor proposes to
grant the Cash Collateral Creditors, a replacement lien upon all
property of the Debtor of the same type and description as the
prepetition collateral as of the Petition Date. As further adequate
protection, Debtor shall continue to account for all cash use, and
the proposed cash use is being incurred to preserve property of the
Estate.

If no objections are filed, the Debtor seeks permission to use Cash
Collateral pursuant to the Budget on a final basis for the budget
period (through October 2, 2020).  The Debtor also seeks approval
of a process for subsequent approval for the use of Cash Collateral
by filing and serving subsequent budgets upon all Cash Collateral
Creditors prior to the expiration of a budget period, a fixed time
for Cash Collateral Creditors to object, and automatic approval of
subsequent budgets in the absence of any objections.

A copy of the motion is available at https://bit.ly/35BWeX5 from
PacerMonitor.com.

                  About Hubbards Cabins LLC

Hubbards Cabins, LLC is a Kentucky limited liability company which
was organized in February 2017. Alvin Hubbard is the sole member of
Hubbards Cabins.  Hubbards Cabins constructs, sells and delivers a
wide variety of wooden and metal buildings, kennels, gazebos, etc.
to customers in Kentucky and surrounding states. It sought
protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr.
E.D. Ky. Case No. 20-60999) on September 4, 2020.



HUNT COMMUNICATIONS: Unsecureds Will be Paid 50% of Net Profit
--------------------------------------------------------------
Hunt Communications, LLC,  filed a Plan and a Disclosure
Statement.

The Creditors will be treated as follows:

   * Secured Claims are impaired:

     -- Ally Bank is a holder of a secured claim in the amount of
$12,800.84. This claim is secured by a 2015 Dodge Ram 3500. Debtor
will pay this claim in full plus 5.25% interest in monthly
installments and the claim will be paid in full in 60 equal monthly
payments. The payments will be approximately $240.00 per month.

     -- GM Financial (AmeriCredit Financial Services) is a holder
of a secured claim in the amount of $42,647.35. This claim is
secured by a 2018 GMC K2500. Debtor will pay these claims in full
plus 5.25% interest in monthly installments and the claim will be
paid in full in 60 equal monthly payments. The payments will be
approximately $800.00 per month.

     -- Caterpillar Financial Services Corp. is a holder of a
secured claim in the amount of $42,669.00. This claim is secured by
a Caterpillar 259D Compact Track Loader, and a Caterpillar 420F
Backhoe Loader. Debtor will pay this claim in full plus 5.25%
interest in monthly installments and the claim will be paid in full
in 24 equal monthly payments. The payments will be approximately
$1,800.00 per month.

     -- Enverto Leasing Co. is a holder of a secured claim in the
amount of $27,230.56. This claim is secured by a 2012 Vermeer
Navigator D24X40 Series II. Debtor will pay this claim in full plus
5.25% interest in monthly installments and the claim will be paid
in full in 60 equal monthly payments. The payments will be
approximately $500.00 per month.

   * General Unsecured Claims are impaired. The allowed general
unsecured creditors will be paid as much of what they are owed as
possible. Each year, if the Reorganized Debtor made a profit, after
income taxes, and after making all secured plan payments and normal
overhead payments, the Reorganized Debtor shall pay to the allowed
unsecured creditors their pro-rata share of 50% of the net profit
for the previous year, in twelve monthly payments. This payout will
not exceed five years, and at the end of the five-year Plan term.

     -- Insiders will not be paid any prepetition claims during the
term of the Plan and their claims will be discharged upon
confirmation of the Plan.

     -- The Equity interest holder, Monique Hunt, will retain her
interest in the Reorganized Debtor but will not receive dividends
during the term of the plan of reorganization.

Payments and distributions under the Plan will be funded by through
future income from the operations of the company.

A full-text copy of the Disclosure Statement dated August 3, 2020,
is available at https://tinyurl.com/y28xpfka from PacerMonitor.com
at no charge.

                   About Hunt Communications

Hunt Communications, LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Tex. Case No. 19-35732) on Oct. 10,
2019. At the time of the filing, the Debtor disclosed assets of
between $500,001 and $1 million and liabilities of the same range.
The case is assigned to Judge Christopher M. Lopez. The Debtor is
represented by Russell Van Beustring, Esq., at The Lane Law Firm,
PLLC.


IAA INC: S&P Affirms 'BB-' Issuer Credit Rating; Outlook Stable
---------------------------------------------------------------
S&P Global Ratings affirmed its 'BB-' issuer credit rating on IAA
Inc. and its issue-level ratings on the company's debt and removed
the ratings from CreditWatch, where it placed them with negative
implications on April 24, 2020. The outlook is stable.

IAA Inc.'s financial performance thus far in 2020 has demonstrated
an ability to continue generating cash despite lower assignment
volumes.

Although macroeconomic conditions remain uncertain, including a
potential coronavirus resurgence and a subsequent decline in
vehicle miles travelled, S&P believes the company has enough
cushion in its metrics for the current rating level.  Despite lower
assignment volumes, IAA's performance thus far in 2020 has
demonstrated its ability to navigate through periods of turmoil and
continue to generate cash. Assignments fell approximately 45% from
mid-March to mid-April, and vehicle miles driven sharply declined
due to stay-at-home orders. However, IAA's cost-cutting
initiatives, increased revenue per unit (RPU), low capital
expenditure requirements, and tight financial controls led to cash
generation by the end of the second quarter 2020. S&P are now
expecting debt to EBITDA of about 4x in 2020, improving to
3.1x-3.5x in 2021, and free operating cash flow (FOCF) to debt of
around 12% in 2020, improving to around 15% by 2021. This is an
improvement compared to S&P's previous expectations of debt to
EBITDA above 5x and FOCF to debt below 5% in 2020.

Higher revenue per unit (RPU) has reached record levels as the
company has shifted to 100% digital, demand continues to outpace
supply, and used car prices reach record levels.  The company
previously generated around 70% of revenue from online. The closing
of physical auctions and moving entirely online as of April 2020
results in additional internet bid fees and reduced costs. However,
it is uncertain whether used-car prices will remain elevated.

Liquidity remains adequate.  The company upsized its revolving
credit facility to $361 million on July 7, 2020, from $225 million.
The revolver remains undrawn, with almost full availability other
than $6.1 million of letters of credit. The senior secured leverage
ratio of 3.5x is not in effect due to no borrowings on the
revolver, but even if the covenant were to go into effect S&P
anticipates cushion of over 30%.

"The stable outlook reflects our expectation that IAA will generate
earnings and free cash flow appropriate for the rating during the
year ahead through its revenue base and tight financial controls.
For the rating, we expect IAA to maintain a FOCF to debt of above
10% over the next 12 months," S&P said.

"We could lower our rating over the next twelve months if IAA's
annualized FOCF to debt falls below 10% or if total debt to EBITDA
exceeds 4x on a sustained basis. This could occur if revenue per
unit declines, if volumes decline more than we anticipate, working
capital requirements are greater than we expect, or the company
pursues an aggressive course of acquisitions," the rating agency
said.

Ratings upside is unlikely given IAA's relatively modest scale and
customer concentration. Eventually, better operating efficiencies
and well-integrated acquisitions could support a higher rating.
Alternatively, S&P could raise the rating if debt to EBITDA falls
below 3.0x and FOCF to debt exceeds 15% on a sustained basis as the
result, for instance, of significant debt reduction.


IQOR HOLDINGS: S&P Downgrades ICR to 'D' on Chapter 11 Filing
-------------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on business
process outsourcing and product support services provider iQor
Holdings Inc. to 'D' from 'CC'. S&P also lowered its issue-level
ratings on the company's debt to 'D'.

The downgrade follows iQor's announcement that it has entered into
an agreement with a majority of its secured lenders to recapitalize
its funded debt. In addition, each of its U.S. subsidiaries have
filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy
Code.

Since the filings indicate this is a "prepackaged" plan, the
company will continue to operate through the bankruptcy process and
has sourced $130 million of debtor-in-possession (DIP) financing,
consisting of an $80 million accounts receivable (A/R) facility and
a $50 million term loan. S&P believes management will use the
proceeds from the DIP financing to support iQor through the
bankruptcy process.

iQor expects the DIP financings to be refinanced with a new $80
million exit A/R facility and a new exit term loan of up to $97.5
million upon emergence from Chapter 11, which it expects to be
within approximately 45 days.


IQOR RECEIVABLES: Case Summary & 30 Largest Unsecured Creditors
---------------------------------------------------------------
Two affiliates that concurrently filed voluntary petitions for
relief under Chapter 11 of the Bankruptcy Code:

    Debtor                                          Case No.
    ------                                          --------
    iQor Receivables SPE, LLC                       20-34548
    200 Central Avenue, 7th Floor
    St. Petersburg, FL 33701
   
    iQor Receivables SPE 2, LLC                     20-34549
    200 Central Avenue, 7th Floor
    St. Petersburg, FL 33701

Business Description:     The Debtors, together with their non-
                          Debtor affiliates, comprise a
                          multinational business process
                          outsourcing company that provides a
                          range of customer support and
                          outsourcing services to some of the
                          world's largest brands.

                          The Debtors are affiliates of iQor
                          Holdings Inc., which (together with 22
                          of its U.S. affiliates) sought
                          bankruptcy protection on Sept. 10, 2020.
                          The Debtors are seeking to have their
                          cases jointly administered for
                          procedural purposes under Case Number
                          20-34500.

Chapter 11 Petition Date: September 15, 2020

Court: United States Bankruptcy Court
       Southern District of Texas

Judge: Hon. Marvin Isgur

Judge: Hon. David R. Jones

Debtors'
General
Bankruptcy
Counsel:                  Christopher Marcus, P.C.
                          Rachael M. Bazinski, Esq.
                          KIRKLAND & ELLIS LLP
                          KIRKLAND & ELLIS INTERNATIONAL LLP
                          601 Lexington Avenue
                          New York, New York 10022
                          Tel: (212) 446-4800
                          Fax: (212) 446-4900
                          Email: christopher.marcus@kirkland.com
                          rachael.bazinski@kirkland.com

Debtors'
Local
Bankruptcy
Counsel:                  Matthew D. Cavenaugh, Esq.
                          Jennifer F. Wertz, Esq.
                          Genevieve M. Graham, Esq.
                          Vienna F. Anaya, Esq.
                          JACKSON WALKER L.L.P.
                          1401 McKinney Street, Suite 1900
                          Houston, TX 77010
                          Tel: (713) 752-4200
                          Fax: (713) 752-4221
                          Email: mcavenaugh@jw.com
                          jwertz@jw.com
                          ggraham@jw.com
                          vanaya@jw.com
Debtors'
Financial
Advisor &
Investment
Banker:                   EVERCORE GROUP L.L.C.

Debtors'
Restructuring
Advisor:                  FTI CONSULTING INC.

Debtors'
Notice &
Claims
Agent:                    OMNI AGENT SOLUTIONS

https://cases.omniagentsolutions.com/documents?clientid=CsgAAncz%2b6Y0Ome3MVOwvSSMZGtAac31oRfkj8XEdqLHXEprid49%2bboNtI%2bK2Iovl8Ceo5s%2bFjg%3d&tagid=1182

Estimated Assets
(on a consolidated basis): $1 billion to $10 billion

Estimated Liabilities
(on a consolidated basis): $1 billion to $10 billion

The petitions were signed by David A. Kaminsky, officer.

Copies of the Debtors' petitions are available for free at
PacerMonitor.com at:

https://www.pacermonitor.com/view/KKVWVUY/iQor_Receivables_SPE_LLC__txsbke-20-34548__0001.0.pdf?mcid=tGE4TAMA

https://www.pacermonitor.com/view/LJDXI2I/IQor_Receivables_SPE_2_LLC__txsbke-20-34549__0001.0.pdf?mcid=tGE4TAMA

Consolidated List of Debtors' 30 Largest Unsecured Creditors:

Entity                            Nature of Claim    Claim Amount
------                            ---------------    ------------
1. Ivy Technology Global           Indemnification      $7,124,682
Services, LLC
Ivy Technology Master
Holdings, LLC
c/o Staple Street Capital
1290 Avenue of the Americas,
10th Floor
New York, New York 10104
Attn: Hootan Yaghoobzadeh
hootan@staplestreetcapital.com

2. California District Attorneys       Litigation       $4,028,364
Hoon Chun
211 W. Temple Street, 10th Floor,
Los Angeles, CA 90012
Email: hchun@da.lacounty.gov

3. Deloitte Consulting LLP            Professional      $1,053,141
2200 Ross Ave, Ste 1600                 Services
Dallas, TX 75201
Email: deloittepayments@deloitte.com;
Kritee.Sachdeva@iqor.com

4. AT&T                                   Trade           $964,415
225 W Randolph St
Chicago, IL 60606
Email: CSSControl@rdsmail.ims.att.com

5. Nice Systems Inc.                      Trade           $907,200
P.O. Box 7247-7301
Philadelphia, PA 19170-7301
Email: Customer.orders@nice.com;
navit.bitton@nice.com

6. Oracle America Inc.                    Trade           $901,351
500 Oracle Pkwy
Rewood Shores, CA 94065
Email: maribel.hernandez@oracle.com

7. Redacted                              Deferred         $794,924
                                       Compensation

8. EPE USA                                 Trade          $728,636

17654 Newhope St, Ste A
Fountain Valley, CA 92708
Email: jlopez@epeusa.com;
cortiz@epeusa.com

9. Bennett Packaging of                    Trade          $672,716
Kansas City Inc.
P.O. Box 411145
Kansas City, MO 64141-1145
Email: ar@bpkc.com

10. CDW Direct LLC                         Trade          $582,070
P.O. Box 75723
Chicago, IL 60675-5723
Email: briawin@cdw.com

11. LiveVox Inc.                           Trade          $580,200
P.O. Box 775337
Chicago, IL 60677-5337
Email: madler@livevox.com

12. Microsoft Licensing GP                 Trade          $531,683
1950 N Stemmons Fwy, Ste 5010
Dallas, TX 75207
Email: janet.cooper@microsoft.com

13. Cable Technologies                     Trade          $508,550
International, Inc.
720 Johnsville Blvd., Suite 925
Warminster, PA, 18974
Email: pcardelljr@cabletechnologies.com;
abirch@cabletechnologies.com

14. Redacted                             Deferred         $460,397
                                       Compensation
                                      
15. Bain and Company Inc.              Professional       $459,000
131 Dartmouth St                         Services
Boston, MA 02116
Email: Borjana.Pesikan@bain.com

16. Amazon Web Srvcs Inc.                  Trade          $359,739
410 Terry Ave N
Seattle, WA 98109
Email: aws-receivables-
support@email.amazon.com

17. Eagle Business                         Trade          $312,500
Solutions, LLC
111 2nd Ave Ne, Ste 1006
St Petersburg, FL 33701
Email: accounting@eagledatagistics.com;
baffonso@eagledatagistics.com

18. Successfactors                         Trade          $302,885
1 Tower Pl, Ste 1100
South San Francisco, CA 94080
Email: successfactors@acctrec.com

19. Meridian IT Inc.                       Trade          $256,183
P.O. Box 33950
Chicago, IL 60694-3950
Email: bweigel@meridianleasing.net;
mike.stisser@meridianitinc.com

20. Redacted                              Deferred        $240,435
                                        Compensation
                                      
21. Communication Test                      Trade         $240,388

Design Inc.
1373 Enterprise Drive
West Chester, PA 19380
Email: Shartshone@ctdi.com
sdenno@ctdi.com

22. PrideStaff, Inc.                        Trade         $209,347
P.O. Box 205287
Dallas, TX 75320-5287
Email: jbergstrom@pridestaff.com

23. Computer Design and                     Trade         $161,797
Integration
696 Rt 46
West Teterboro, NJ 07608
Email: Rich.Falcone@CDILLC.com;
Brad.Curtis@CDILLC.com;
Tim.Watrous@CDILLC.com

24. Redacted                               Deferred       $151,136
                                        Compensation
                                     
25. Qwest Communications                     Trade        $150,068
Company LLC
1801 California St 1220
Denver, CO 80202-2658
Email: cashops@centurylink.com;
Jerrilynn.Ward@qwest.com

26. Redacted                               Deferred       $147,350
                                         Compensation

27. Zhuhai Senyang Packing                                $138,607
Technology Co, Ltd
2nd Baiteng Rd,
Doumen District, Zhuhai,
190 519000 China
Email: Jessie.huang@senyangpacking.com;
kevin.du@senyangpacking.com

28. Redacted                               Deferred       $134,773
                                         Compensation

29. Indeed Inc.                              Trade        $130,055
Mail Code 5160
P.O. Box 660367
Dallas, TX 75266-0367
Email: Billing@indeed.com;
Tomas@indeed.com

30. Redacted                               Deferred       $127,952
                                         Compensation


JAMES MEDICAL: US Trustee Objects to Disclosure Statement
---------------------------------------------------------
Paul A Randolph, the Acting United States Trustee for Region 8,
filed an objection to James Medical Equipment Ltd's Disclosure
Statement.

The United States Trustee objects to the approval of the Disclosure
Statement as filed The information in the Disclosure Statement does
not provide adequate information which would allow any creditor to
make an informed judgment to accept or to reject the Plan as filed.


The United States Trustee points out that while the Debtor
concludes that it will generate income sufficient for the Debtor to
meet is ongoing expenses and obligations under the Plan the only
real support for this conclusion is a general reference to the
Debtor's "filed" reports.

The United States Trustee asserts that the Debtor has not disclosed
any factual difference between those general unsecured creditors
which it proposes to pay in full and those it will only pay 3%.

The United States Trustee complains that the Plan and Disclosure
Statement proposes to release certain non-debtor/third parties of
liabilities related to the Debtor.

                  About James Medical Equipment

James Medical Equipment, Ltd.'s line of business includes renting
or leasing medical equipment. The company was founded in 1979 and
is based in Campbellsville, Ky.

James Medical Equipment filed a voluntary Chapter 11
petition(Bankr. W.D. Ky. Case No. 19-10187) on March 1, 2019. At
the time of the filing, the Debtor was estimated to have $1 million
to $10 million in both assets and liabilities. Judge Joan A. Lloyd
oversees the case. The Debtor tapped David M. Cantor, Esq., at
Seiller Waterman LLC, as its legal counsel.


JASON INDUSTRIES: 2nd Lien Committee Says Plan Can't Be Confirmed
-----------------------------------------------------------------
The Second Lien Ad Hoc Committee submitted an objection to approval
of the Amended Disclosure Statement for the Joint Prepackaged Plan
of Reorganization of Jason Industries, Inc. and its debtor
affiliates pursuant to Chapter 11 of the Bankruptcy Code  and to
confirmation of the Amended Plan.

The Second Lien Ad Hoc Committee asserts that the Amended
Disclosure Statement does not provide adequate information:

   * The valuation analysis does not provide a reliable valuation
of the debtors or their unencumbered assets.

   * The Amended Disclosure Statement fails to provide creditors
with adequate information regarding the treatment of claims.

   * The liquidation analysis fails to provide creditors with
adequate information regarding estimated chapter 7 recoveries.

The Committee also asserts that the Amended Plan cannot be
confirmed because:

   * The Debtors have failed to meet the requirements of Section
1129(a) of the Bankruptcy Code.

   * The Debtors cannot satisfy Bankruptcy Code Section 1129(a)(3)
because the Plan has not been proposed in good faith.

   * The Debtors cannot satisfy Section 1129(a)(7) because the
Debtors have not established that class 5 claims will receive at
least as much as they would under a Chapter 7 Liquidation.

   * The Debtors cannot satisfy Section 1129(a)(1) because the Plan
violates Section 363(k).

   * The Amended Plan fails to meet the requirements of Section
1129(b).

   * The Amended Plan is not "fair and equitable" because it may
provide value to first lien lenders in excess of the value of their
claims.

   * The Amended Plan cannot be confirmed because it unfairly
discriminates between Unsecured Creditors.

Counsel for the Second Lien Ad Hoc Committee:

     Steven D. Pohl
     Sharon I. Dwoskin
     BROWN RUDNICK LLP
     One Financial Center
     Boston, MA 02111
     Telephone: 617-856-8200
     Email: spohl@brownrudnick.com
            sdwoskin@brownrudnick.com

                    About Jason Industries

Jason Industries, Inc., headquartered in Milwaukee, Wisconsin, is a
diversified manufacturing company serving the finishing, seating,
acoustics and components end markets.

Jason Industries, Inc., and seven affiliates sought Chapter 11
protection (S.D.N.Y. Lead Case No. 20-22766) after reaching a deal
with lenders on terms of a plan that will cut debt by $250
million.

As of June 24, 2020, the Company reported total assets of
$204,886,939 and total debt of $428,374,343.

The Hon. Robert D. Drain is the case judge.

Moelis & Company LLC, is acting as financial advisor, Kirkland &
Ellis LLP is acting as legal counsel, and AlixPartners, LLP, is
acting as restructuring advisor to the Company in connection with
the Restructuring.  Houlihan Lokey Capital, Inc., is acting as
financial and restructuring advisor and Weil, Gotshal & Manges LLP
is acting as legal counsel to the Consenting Creditors.  Epiq
Corporate Restructuring, LLC, is the claims agent.


JLK INDUSTRIES: Unsecureds to Get 5% of Their Claims in Plan
------------------------------------------------------------
JLK Industries, Inc., submitted a Second Amended Joint Combined
Disclosure Statement and Plan of Reorganization.

General unsecured creditors are classified in Classes 7 and 8, and
they will receive a distribution of 5% of their allowed claims over
five years.

Class 1 Sound Credit Union in the amount of $1,005,976 is impaired.
The Creditor will receive monthly payment of $5,400.30. Beginning
on 15th day of the first full month following Confirmation (Est.
Sept. 15, 2020) and ending 30 years thereafter. Total estimated
payout amount of $1,944,108.00.

Class 2 First Home Bank with allowed secured amount of $242,000 is
impaired.  Creditor will receive monthly payment of $2,700.00.
Beginning on August 1, 2020 and ending on July 30, 2030 (est. 123
months). Total estimated payout amount of $332,134.

Class 3 FC Marketplace, LLC, with allowed secured amount of
$176,715 is impaired. Creditor will receive monthly payment of
$1,874.  Beginning on 15th day of the first full month following
Confirmation (Est. Sept. 15, 2020) and ending 10 years thereafter.
Total estimated payout amount is $224,921.

Class 4 Credibly with allowed secured amount of $60,836 is
impaired.  Creditor will receive monthly payment of $326.58.
Beginning on 15th day of the first full month following
Confirmation (Est. Sept. 15, 2020) and ending 30 years thereafter.
Total estimated payout amount of $117,569.

Class 7 All General Unsecured Claims in which JLK Industires, Inc.
is the Primary Obligor, with total allowed claims of $203,771, is
impaired. Creditor will receive monthly payment of $169.81, Pro
Rata. Beginning on 15th day of the first full month following
Confirmation (est. September 15, 2020) and ending 60 Months
Thereafter. Total payout amount of $10,188.55. 5% of the claims
will be paid.

Class 8 All General Unsecured Claims in which Jeffrey and/or
Christina Stokes are the primary obligors, with total allowed
claims of $160,762, is impaired.  Creditor will receive monthly
payment of $133.97, Pro Rata. Beginning on 15th day of the first
full month following Confirmation (est. September 15, 2020) and
ending 60 Months Thereafter. Total payout amount of $8,038, with 5%
of the claims to be paid.

The Plan will be funded from the revenue generated by JLK
Industries in the operation of their automotive and truck repair
business, as well as the personal income of the Jeffrey and
Christina Stokes from their employment.

A full-text copy of the Disclosure Statement dated August 3, 2020,
is available at https://tinyurl.com/y3apw5u7 from PacerMonitor.com
at no charge.

                     About JLK Industries

JLK Industries, Inc., which conducts business under the name
Everett Auto Clinic, owns and operates an automotive repair and
maintenance shop in Everett, Wash.

JLK Industries sought Chapter 11 protection (Bankr. W.D. Wash. Case
No. 19-13286) on Sept. 4, 2019, in Seattle, Washington. In the
petition was signed by Jeffrey Stokes, owner and operator, the
Debtor was listed to have total assets at $420,450 and total
liabilities at $1,692,555 as of the bankruptcy filing. Judge
Timothy W. Dore administers the Debtor's case. Larry B Feinstein,
PS, is the Debtor's counsel.


JOHN GREG BURNETTE: Selling 2019 Dynamax ISATA 5 30FW for $141K
---------------------------------------------------------------
John Gregory Burnette and Michelle Lynn Burnette ask the U.S.
Bankruptcy Court for the District of Colorado to authorize the sale
of their 2019 Dynamax, model ISATA 5 30FW, a recreational vehicle,
for $141,000.

The Debtors own the RV.  They listed on their Schedule B the RV as
having a value of $109,750.  

The RV is encumbered by a lien held by Huntington National Bank
("HNB").  HNB has filed a Proof of Claim asserting a secured claim
in the amount of $130,148.  It has provided a payoff statement of
$132,899, with a per diem of 20.  The loan on the RV held by HNB
accrues interest at a rate of 5.74% per annum.  The monthly payment
on the loan is $943. The loan contemplates a total of 240 payments
that commenced on Nov. 8, 2018.

The RV is a burden upon the estate.  It has a costly monthly
payment, is costly to operate, is a luxury item, and is required to
be insured.  The Debtors have not been utilizing the RV and are not
making the monthly payment on the loan.

HNB has contacted undersigned counsel and has stated it plans on
filing a Motion for Relief from Stay to take possession of the RV.
The Debtors have been listing the RV on a third-party marketing
web-site customarily used for the sale of recreational vehicles
known as RV Trader.  They commenced the RV listing on or around the
end of July, 2020.  They listed the RV on RV Trader for a sale
price of $148,000.

Until recently, the Debtors did not receive any offers for the RV.
Rather, they received some comments which generally indicated that
the sale price was too high and inquired whether the Debtors would
take a lower price.  The cost to the Debtors for listing the RV on
RV Trader is a fixed fee of $100.  

The Debtors have received an offer to purchase the RV for $141,000.
The Debtors believe the Sale Price is the highest and best offer
the Debtors will receive for the RV.  The Buyer is insisting on a
prompt closing on the RV.  The sale will be free and clear of all
liens, claims and encumbrances.   All liens, claims and
encumbrances will attach to the proceeds of the sale.

There are no loan contingencies in the Buyers' offer, which will
allow the sale of the RV to close quickly and removes the risk that
the sale will not be able to close because of an inability to
obtain funding.  The sale of the RV provides an immediate benefit
to the estate and its creditors.  The Debtors have no relation to
the Buyer.

The Debtors ask authorization to utilize the proceeds from the sale
of the RV to pay the claim of HNB.

The sale of the RV will maximize the return for the estate's
creditors, while avoiding the risk that HNB repossesses and sells
the RV for less than it is owed, increasing the amount of unsecured
claims being asserted against the estate.

John Gregory Burnette and Michelle Lynn Burnette sought Chapter 11
protection (Bankr. D. Colo. Case No. 20-11305) on Feb. 26, 2020.
The Debtors tapped Aaron Garber, Esq., at Wadsworth Garber Warner
Conrardy, as counsel.


KAREN ALLSUP: Seeks to Hire Dean W. Greer as Legal Counsel
----------------------------------------------------------
Karen Allsup, M.D., P.A. seeks approval from the U.S. Bankruptcy
Court for the Western District of Texas to hire the Law Offices of
Dean W. Greer as its legal counsel.

The services that will be provided by the firm are as follows:

      a. advise Debtor as to its power and duties in the continued
operation of its business and management of its properties during
bankruptcy;

      b. take legal actions to preserve and protect Debtor's
assets, including the prosecution of adversary proceedings, the
defense of actions commenced against Debtor, negotiations
concerning litigation in which Debtor is involved, and objection to
the allowance of disputed claims against Debtor's estate;

     c. prepare legal documents;

     d. assist Debtor in the development, negotiation and
confirmation of a plan of reorganization and the preparation of a
disclosure statement; and

     e. perform other legal services that Debtor may request.

The firm will charge $325 per hour for its services.

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

Mr. Greer can be reached at:

      Dean W. Greer, Esq.
      Law Offices of Dean W. Greer
      2929 Mossrock, Ste. 117
      San Antonio, TX 78230
      Tel.: (210) 342-7100
      Fax:  (201)  342-3633

                     About Karen Allsup, M.D. P.A.

Karen Allsup, M.D., P.A. filed its voluntary petition under Chapter
11 of the Bankruptcy Court (Bankr. W.D. Texas Case No. 20-51407) on
Aug. 6, 2020, listing under $1 million in both assets and
liabilities.  Judge Craig A. Gargotta oversees the case.  The Law
Offices of Dean W. Greer serves as Debtor legal 's counsel.


KB US HOLDINGS: TLI Buying Substantially All Assets for $75 Million
-------------------------------------------------------------------
KB US Holdings, Inc. and affiliates ask the U.S. Bankruptcy Court
for the Southern District of New York to authorize the bidding
procedures in connection with the sale of substantially all assets
to TLI Bedrock, LLC for approximately $75 million, subject to
overbid.

In addition to maximizing the value of the Debtors' estates for the
benefit of their creditors and other stakeholders, the proposed
Sale will preserve thousands of jobs and allow the Debtors to
continue to provide essential goods to the communities they serve
during the COVID-19 pandemic.  Following an extensive prepetition
marketing process and negotiations with numerous potential bidders,
the Debtors entered into the Stalking Horse Purchase Agreement on
July 13, 2020.

The Stalking Horse Purchase Agreement, dated July 13, 2020,
provides for the sale of, among other things, 30 of the Debtors'
stores, for an aggregate purchase price of approximately $75
million.  The Stalking Horse Purchase Agreement required the
Stalking Horse Bidder to negotiate with the Unions prepetition, in
consultation with the Debtors, to ask a consensual agreement on the
terms of employment with affected unionized employees.  The
Stalking Horse Bid is subject to higher or otherwise better offers
in accordance with the Bidding Procedures.  The Debtors continue to
engage with other interested parties as part of the sale process.

To facilitate the sale, as is set forth in the DIP Motion filed
contemporaneously with the Motion, the Debtors have agreed to
various case milestones that will allow for an efficient Sale
process.  Specifically, the milestones provide that (a) by Sept.
15, 2020, the Court enters the Bidding Procedures Order; (c) by
Oct. 8, 2020, the Debtors conduct the Auction; and (d) by Oct. 22,
2020, the Court approves the Sale contemplated by the Motion.
Given the extensive prepetition marketing process that the Debtors
have already undertaken, the Debtors submit that the sale timeline
is reasonable and appropriate.

To effectuate the Sale, the Debtors submit the Motion respectfully
asking that the Court (a) authorizes them to enter into the
Stalking Horse Purchase Agreement; (b) approves the Bidding
Procedures for the sale of the Assets; (c) sets dates and deadlines
in connection therewith; (d) approves the form and manner of notice
of each of the foregoing; (e) approves procedures for the
assumption and assignment of certain executory contracts and
unexpired leases in connection with the Sale; and (f) grants the
Debtors any related relief.  In addition, they ask that the Court
(x) authorizes the Sale of the Assets free and clear of all liens,
claims, interests, and encumbrances; (y) approves the assumption
and assignment of the Assigned Contracts in connection with the
Sale; and (z) grants them any related relief.

The Debtors askauthority to provide the Stalking Horse Bidder with
standard Stalking Horse Bid Protections.  Specifically, the
Stalking Horse Purchase Agreement provides for (i) the payment of a
break-up fee of $2,625,000, (ii) the reimbursement of reasonable
and documented expenses up to $550,000 in the event the Stalking
Horse Bid is not selected as the winning bid.  Furthermore, the
Stalking Horse Purchase Agreement provides for the reimbursement of
reasonable and documented expenses up to $750,000 if the Stalking
Horse Purchase Agreement is terminated in the event the Sale Order
does not include certain findings of fact and conclusions of law
related to the Stalking Horse Bidder’s liability for union
agreements and pension plans.  

The Bidding Procedures also establish that if the Stalking Horse
Bidder bids at the Auction, it will be entitled to a credit in the
amount of the Termination Fee and Expense Reimbursement against the
increased purchase price for the Assets.  In the event it is not
the winning bidder at the Auction, the Stalking Horse Bidder has
agreed to act as a "Back-up Bidder" and, as such, hold open its
binding offer to purchase the Assets for 20 days after the entry of
the Sale Order in case the winning bid is not consummated.

The Stalking Horse Purchase Agreement includes various customary
representations, warranties, and covenants by the Debtors and the
Stalking Horse Bidder, as well as certain conditions to closing the
contemplated Sale and rights of termination.  The transactions
contemplated by the Stalking Horse Purchase Agreement are subject
to approval by the Court and entry of the Bidding Procedures Order
and the Sale Order.

The Bidding Procedures will provide potential bidders with
sufficient notice and time to conduct due diligence to submit
binding bids in advance of the Bid Deadline.

The salient terms of the Bidding Procedures are:

     a. Bid Deadline: Oct. 2, 2020 at 4:00 p.m. (ET)

     b. Auction: The Auction, if necessary, will be held on Oct. 8,
2020 at 10:00 a.m. (ET) at the offices of counsel to the Debtors,
Proskauer Rose LLP, Eleven Times Square, New York, New York, 10036,
or at such other venue (or by such other medium) as may be agreed
to by the Debtors, the Consultation Parties, and the United States
Trustee.  If there is no Auction, the Sale Hearing to approve the
Sale to the Stalking Horse Bidder will be held on Oct. 8, 2020 at
10:00 a.m. (ET).

     c. Sale Hearing: Oct. 18, 2020 at 10:00 a.m. (ET)

     d. Sale Objection Deadline:  Oct. 2, 2020 at 4:00 p.m. (ET)

The Debtors will file with the Court and serve on the appropriate
notice parties the Notice of Auction Results within two days of the
conclusion of the Auction.

To facilitate the Sale, the Debtors are asking approval of the
Assignment Procedures.  The Assignment Procedures set forth in the
Bidding Procedures Order contemplate that certain executory
contracts may be assumed and assigned to the ultimate purchaser of
the Assets, and that the Buyer will be responsible for all related
cure costs.  On Sept. 18, 2020, the Debtors will file with the
Court the Cure Notice, and post it to the Case Website
(https://cases.primeclerk.com/kb).

Other than payment of the Stalking Horse Bid Protections to the
Stalking Horse Bidder from the proceeds of a sale to a competing
bidder, the Bidding Procedures and Stalking Horse Purchase
Agreement do not allocate the proceeds of the Sale.

The Debtors ask relief from the 14-day stay imposed by Bankruptcy
Rules 6004(h) and 6006(d).

A copy of the Agreement and the Bidding Procedures is available at
https://tinyurl.com/y46whoaj from PacerMonitor.com free of charge.

                    About KB US Holdings

KB US Holdings, Inc. is the parent company of King Food Markets and
Balducci's Food Lover's Market.  

Headquartered in Parsippany, N.J., Kings Food Markets has been a
specialty and gourmet food market across the East Coast.  In 2009,
Kings Food Markets acquired specialty gourmet retail grocer,
Balducci's Food Lover's Market.  As of the petition date, the
Debtors operate 35 supermarkets across New York, New Jersey,
Connecticut, Virginia, and Maryland.

KB US Holdings and its affiliates sought protection under Chapter
11 of the Bankruptcy Code (Bankr. S.D. N.Y. Lead Case No. 20-22962)
on Aug. 23, 2020.  At the time of the filing, Debtors disclosed
assets of between $100 million and $500 million and liabilities of
the same range.

Judge Sean H. Lane oversees the cases.

The Debtors tapped Proskauer Rose LLP as their legal counsel, Peter
J. Solomon as investment banker, Ankura Consulting Group LLC as
financial advisor, and Prime Clerk LLC as claims, noticing and
solicitation agent.


LIVING EPISTLES: Sept. 24 Hearing on $350K Milwaukee Property Sale
------------------------------------------------------------------
Judge G. Michael Halfenger of the U.S. Bankruptcy Court for the
Eastern District of Wisconsin continued the evidentiary hearing to
Sept. 24, 2020 at 11:00 a.m. on Living Epistles Church of Holiness,
Inc.'s sale of the real estate located at 4022 and 4038 North 27th
Street in Milwaukee, Wisconsin to DeMaryl R. Howard and/or assigns
for $350,000.

The Buyer must appear and testify in person at the continued
evidentiary hearing unless a request for alternative arrangements
is made, good cause for such arrangements is shown, and the Court
grants the request before the scheduled time.

The United States trustee called two witnesses: (1) Leonard
Leverson, the Debtor's former counsel, and (2) Brad Hrebenar, the
managing director of Willow River, LLC, servicer for LCB1 Trust,
the successor of First-Citizens Bank & Trust Co. to a security
interest in the Debtor's real property.

First Citizens Bank & Trust has a perfected first priority mortgage
on the Property.   The only other potential encumbrances against
the Property are judgment liens held by the City of Milwaukee and
the Milwaukee Board of School Directors.  

The Debtor is not aware of any such non-bankruptcy law restriction
on its ability to sell the Property.

A copy of the Offer is available at https://tinyurl.com/y7cc9tgb
from PacerMonitor.com free of charge.

                    About Living Epistles

Living Epistles Church of Holiness Inc., a tax-exempt religious
organization, filed Chapter 11 petition (Bankr. E.D. Wisc. Case No.
19-25789) on June 12, 2019.  At the time of filing, the Debtor was
estimated to have $1 million to $10 million in assets and $1
million to $10 million in liabilities.


LUCKY'S MARKET: ALDI Buying Cape Coral Lease & Clearwater Lease
---------------------------------------------------------------
Lucky's Market Parent Co., LLC, and its affiliates ask the U.S.
Bankruptcy Court for the District of Delaware to authorize the
private sale of the Cape Coral Lease and the Clearwater Lease to
ALDI (Florida), LLC.

Before the Petition Date, the Debtors operated small format grocery
stores that offered affordable organic and locally-grown fruits and
vegetables, top-quality, naturally raised meats and seafood, and
fresh, daily prepared foods.  They emphasized carrying the
highest-quality products at the lowest prices, with the mission of
providing "Organic for the 99%."  Their stores offered a broad
range of grocery items through the Debtors' "L" private label at
great value, which had no artificial colors, flavors or
preservatives.  

The Debtors and SB-Vets-1, LLC ("Cape Coral Landlord") are parties
to a lease dated March 20, 2018, as amended, related to 2605 Santa
Barbara Blvd., Cape Coral, Florida ("Cape Coral Lease").  The
Debtors and Gulf to Bay LM, LLC, as successor in interest to Dixit
Properties, LLC ("Clearwater Landlord") are parties to a lease
dated June 14, 2018, as amended, related to 2150 Gulf to Bay
Boulevard, Clearwater, Florida ("Clearwater Lease").  

The Purchaser now proposes to purchase the Cape Coral Lease and the
Clearwater Lease via a private sale.  Aldi Inc., the parent company
of the Purchaser proposes to guaranty the Cape Coral Lease and the
Clearwater Lease as part of the assignment and assumption of these
leases.  While no monetary consideration is contemplated by the
Purchaser, the sale will relieve the bankruptcy estate of
significant rejection damage claims and potential subrogation
claims by The Kroger Co.  Kroger, the Prepetition Secured Lender
and guarantor of the Cape Coral Lease and Clearwater Lease, will
pay the cure amounts related to these two leases.  The savings to
the Debtors' estates generated from the assumption and assignment
of the Cape Coral Lease and Clearwater Lease to the Purchaser
combined with Kroger's payment of cure amounts, if any, related to
the Cape Coral Lease and the Clearwater Lease constitute the
purchase price.

The Debtors ask the Court's approval to (a) sell the Cape Coral
Lease and Clearwater Lease free and clear of all liens claims and
encumbrances to the Purchaser, (b) assume and assign Cape Coral
Lease and Clearwater Lease to the Purchaser, and (c) establish the
respective cure amounts for the Cape Coral Lease and Clearwater
Lease. Given that the Cape Coral Lease and Clearwater Lease have
been extensively marketed by both P.J. Solomon and CBRE, the
Consideration offered represents the fair market value of the Cape
Coral Lease and Clearwater Lease and provides adequate
consideration for assignment of each.  Approving the assumption and
assignment of the Cape Coral Lease and Clearwater Lease to the
Purchaser allows the Debtors, their estates, and other stakeholders
to realize cost savings because the Debtors will no longer be
responsible for making payments under the Cape Coral Lease and
Clearwater Lease.  Further, Kroger retained Hilco as its real
estate consultant to augment the marketing of the Kroger Guaranteed
Leases.

Similarly, assuming and assigning the Cape Coral Lease and
Clearwater Lease avoids the claims pool dilution, which could
result if the Debtors rejected the leases and substantial rejection
damage claims were filed by the landlords, or if Kroger filed a
subrogation claim based on its guarantee of the leases.  The
Debtors also ask to designate Kroger as the backup bidder in the
event that the sale is not approved by the Court or the Purchaser
fails to close on the transaction.

To maximize the value received for the Transferred Assets, the
Debtors ask to close the transaction as soon as possible.
Accordingly, they ask the Court waives the 14-day stay period under
Bankruptcy Rules 6004(h) and 6006(d).

A copy of the Agreement is available at
https://tinyurl.com/y3546ur5 PacerMonitor.com free of charge.

                      About Lucky's Market

Lucky's Market Parent Company, LLC -- https://www.luckysmarket.com/
-- together with its owned direct and indirect subsidiaries, is a
specialty grocery store chain offering a broad range of grocery
items through the Company's "L" private label.  Each of the
company's stores has full-service departments, which include
produce, meat, seafood, culinary, apothecary, beer and wine, and
grocery.  In addition to the stores, the company operates a produce
warehouse in Orlando, Fla., to supply nearly all produce for its
Florida and Georgia stores.

Lucky's Market Parent and 21 of its affiliates sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. Del. Lead Case No.
20-10166) on Jan. 27, 2020.  At the time of the filing, the Debtors
were estimated to have $100 million to $500 million in assets and
$500 million to $1 billion in liabilities.  The petitions were
signed by Andrew T. Pillari, chief financial officer.  Judge John
T. Dorsey presides over the cases.

Christopher A. Ward, Esq. and Liz Boydston, Esq., of Polsinelli PC,
serve as counsel to the Debtors.  Alvarez & Marsal acts as
financial advisor; PJ Solomon as investment banker; and Omni Agent
Solutions as notice and claims agent.



MARINER SEAFOOD: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Mariner Seafood, LLC
        86 Macarthur Drive
        New Bedford, MA 02740

Business Description: Mariner Seafood, LLC is in the business of
                      buying and selling seafood inventory from
                      third party importers to domestic and
                      Canadian seafood processors and food service

                      distributors.

Chapter 11 Petition Date: September 14, 2020

Court: United States Bankruptcy Court
       District of Massachusetts

Case No.: 20-11870

Debtor's Counsel: Christopher M. Condon, Esq.
                  MURPHY & KING, PROFESSIONAL CORPORATION
                  One Beacon Street
                  Boston, MA 02108
                  Tel: (617) 423-0400
                  Email: ccondon@murphyking.com

Estimated Assets: $10 million to $50 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by John P. Flynn, president and manager.

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

https://www.pacermonitor.com/view/CJORXAI/Mariner_Seafood_LLC__mabke-20-11870__0001.0.pdf?mcid=tGE4TAMA

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim    Claim Amount
   ------                          ---------------    ------------
1. RGK Goodwin                                            $868,595
Glen Goodwin
Email: gleng3@verizon.net

2. Staffing 360 Solutions Inc./                           $786,579
Monroe
PO Box 412554
Boston, MA
02241-2554
Email: Accounting@monroe.com

3. Empire Staffing Inc.                                   $736,162
PO Box 40561
New Bedford, MA 02740
Pete Avila
Email: pete@empirestaffing.net

4. Titania Seafood Ltd                                    $567,641
253-261 Hennessy Rd
Commercial Bld
Room 1902 Easey Wanchai
Kira Laurila
Email: kira.laurila@titaniaseagroup.com

5. Stavis Seafoods LLC                                    $331,896
212 Northern Ave
Boston, MA 02210
Juan Lopez
Email: jlopez@stavis.com

6. Seafreeze Ltd                                          $273,282
100 Davisville Pier
North Kingstown, RI 02852
Paul Polito
Email: ppolito@staffing360solutions.com

7. Seatrade International Inc.                            $250,285
10 N Front Street
New Bedford, MA 02740
Eric Booth
Email: Credit@myseafood.com

8. Darel Co. Inc.                                         $198,985
72 N. Water Street
Floor 3
New Bedford, MA 02740
Renato Ragusta
Email: renato.ragosta@elafood.com

9. Bluglacier LLC                                         $152,579
6303 Blue Lagoon Drive
Suite 385
Miami, FL 33126
Sebastian Goycoolea
Email: sebastian.goycoolea@bluglacier.com

10. Oceans Fleet                                          $123,427
Fisheries Inc.
PO Box 2731
Fall River, MA 02777
Dan Pacheco
Email: dan@oceansfleet.com

11. Dalian Hongxiang                                      $113,220
Victor Liu
Email: hxseafood@126.com

12. Pacific Trade                                          $92,485
International
124 Makaala Street
Hilo, HI 96720
Kerry Umamoto
Email: kumamoto@hilofish.com

13. North Atlantic Inc.                                    $85,710
PO Box 787562
Philadelphia, PA
19178-4562
Bill Stride
Email: bill@northatlanticseafood.com

14. Eastern Fish Company LLC                               $77,810
PO Box 781790
Philadelphia, PA
19178-1790
Eric Bloom
Email: ebloom@easternfish.com

15. Wheeler Seafood Inc.                                   $76,832
929 E. Main
Suite 212
Puyallup, WA 98372
Brian Wheeler
Email: iamcod@aol.com

16. Eversource                                             $72,476
PO BOx 56007
Boston, MA
02205-6007
Tel: 800-340-9822

17. Hallvard Leroy AS                                      $66,395
Bontelabo No 2
Por Box 7600
Norway
Bjorn Oppheim
Email: bjorn.oppheim@leroy.no

18. Southwest                                              $61,566
Airlines Cargo
PO Box 97390
Dallas, TX 75397
Clarissa Rosario
Email: Clarissa.Rosario@wnco.com

19. Sea Pearl Seafood                                      $60,000
PO BOx 649
Bayou Labatre
AL 36509
Greg Ladnier
Email: greg@sea-pearl.com

20. Skip's Marine                                          $58,606
Supply Inc.
108 MacArthur Drive
New Bedford, MA 02740
Katie Drouin
Email: kdrouin@skipsmarine.net


MATCHBOX FOOD: Hires Veritas Law Firm as Corporate Counsel
----------------------------------------------------------
Matchbox Food Group, LLC seeks authority from the U.S. Bankruptcy
Court for the District of Maryland to employ The Veritas Law Firm
as its corporate counsel.

The services that will be provided by Veritas Law Firm are as
follows:

     a. assist Debtor in negotiations concerning a sale of
substantially all of its assets;

     b. prepare all documents to effect the sale;

     c. provide other services related to the sale.

Veritas Law's hourly rates are as follows:

     Andrew Kline, Esq.            $425
     Scott Rome, Esq.              $375
     Daniel Koffman, Esq.          $325
     Anna Margolis, Esq.           $300
     Law Clerk                     $200
     Licensed Administrative/
       Legal Assistant             $150

Veritas Law is disinterested within the meaning of Section 101(14)
of the Bankruptcy Code as disclosed in court filings.

The firm can be reached through:

     Andrew J. Kline, Esq.
     The Veritas Law Firm
     1225 19th Street, NW, Suite 320
     Washington, DC 20036
     Office: 202-686-7600
     Fax: 202-293-3130

                     About Matchbox Food Group

Matchbox Food Group, LLC and affiliates operate a chain of
casual-dining brand restaurants.

On Aug. 3, 2020, Matchbox Food Group and affiliates filed voluntary
petitions for relief under Chapter 11 of the Bankruptcy Code
(Bankr. D. Md. Lead Case No. 20-17250). The petitions were signed
by Edwin A. Sheridan IV, member.  At the time of the filing,
Matchbox Food Group had estimated assets of less than $50,000 and
liabilities of between $50 million and $100 million.

Judge Lori S. Simpson oversees the cases.  

McNamee, Hosea, Jernigan, Kim, Greenan & Lynch, P.A. and The
Veritas Law Firm serve as Debtors' bankruptcy counsel and corporate
counsel, respectively.


MEDCOAST MEDSERVICE: Winn and CNG to Get Ownership in Plan
----------------------------------------------------------
Medcoast Medservice Inc. submitted a Plan of Reorganization and a
Disclosure Statement.

The Debtor expects that the Effective Date will likely be Sept. 20,
2020. In any event, the Effective Date will be before October 15,
2020.

On the Plan Effective Date, the Debtor's existing stock, shares,
and equity interests will be cancelled. New stock in the
Reorganized Debtor will be issued to Winn (26.6%) and CNG (73.4%),
and a general release shall issue to the new management team,
unless a third party outbids their proposal for acquisition of the
Debtor through the Plan by contribution of $1,240,072 of new
value.

Cash Collateral Use and Post-Petition Financing.

As a result, the Debtor and IRS, which claims statutory liens on
all of the assets of the Debtor to secure the secured portion of
the IRS claim, have entered into a series of stipulations for the
continuing use of cash collateral, to-wit:

- Supplement to Second Stipulation, Docket Entry No 222; Order
adopting, Docket Entry No. 226

The stipulations with IRS first provided for monthly adequate
protection payments of $6500.00. The final (supplemental)
stipulation calls for a reduction in the monthly adequate
protection payments to $2480.96.

Structure, Consideration, and Funding of the Plan

On the Plan Effective Date, unless Winn and CNG are overbid, the
Debtor will emerge as a Reorganized Debtor owned 26.6% by Winn and
73.4% by CNG.  Winn will convert half of its secured claims to
equity.  CNG leased five vehicles to the Debtor.  Those leases will
be rejected by the Debtor as of the Plan Effective Date (regardless
of the buyer), and, provided that CNG is a buyer and successful
bidder at the sale to be conducted pursuant to the Plan in this
case, CNG will contribute title to those vehicles plus the
equipment in the vehicles, will contribute cash as a Capital
Contibution and waive its postpetition administrative claims for
unpaid lease payments and in exchange receive general releases for
the new management team, plus tender cash, as a Capital
Contribution, to meet the obligations of the Debtor on the
Effective Date.  Winn will acquire 26.6% of the Debtor's stock in
exchange for half of its secured claim, $330.114.  CNG will acquire
73.4% of the Debtor's stock in exchange for five ambulances plus
the equipment in the vehicles, will contribute cash as a Capital
Contribution and waive postpetition administrative claims for
unpaid lease payments and receive in exchange general releases for
the new management team, plus pay $529,159 in cash, for a total of
$909,959.  The total amount of new value to be contributed by Winn
and CNG is $1,240,072.  This amount is subject to overbid.

Unsecured Claims

Class 8 General unsecured creditors holding claims of less than
$5,000 have been separated from the other general unsecured
creditors because they are easier to administer and can be resolved
quickly by payment of Debtor's proposed payment to these small
creditors in one lump sum on the Effective Date.  Because the
administrative cost of paying these creditors on the terms of the
Class 9 creditors is cost prohibitive, it is in the best interest
of these creditors (and all parties) that these small claimants
receive a higher dividend and on or just after the Effective Date.
Class 8 claim holders will receive a 25% dividend on their allowed
claims, paid by the Trustee out of the Estate Funds within five
business days following the Plan Effective Date. The estimated
payment amount is $7,097.03.

Class 9: General Unsecured Claims, including claims of undersecured
creditors and bifurcated claims, will receive annual payments.  The
first such annual payment estimated to be in the amount of
approximately $4,588 will be paid by the Trustee out of the Estate
Funds within the later of five business days following the Plan
Effective Date and the date by when the last disputed class 9 claim
is resolved by order of the Bankruptcy Court.

Class 10 Existing equity in the Debtor held by existing equity
holders will be extinguished, and new equity in the Reorganized
Debtor will be distributed 26.6% to Winn and 73.4% to CNG, unless
overbid, upon receipt of the Capital Contributions defined above
and in the Class 1 treatments.

Funding

Funding for the Plan will come from the following sources:

   (a) Cash on hand. As of July 20, 2020, the Debtor estimates that
the Trustee had approximately $180,000.00 in cash on hand.

   (b) Capital Contribution. In addition, on the Plan Effective
Date, CNG will make a Capital Contribution of $529,159.34 cash to
fund payments under the Plan and effectuate the Plan.

CNG will be required to deposit the $529,159.34 Capital
Contribution into a segregated account maintained by the Trustee or
his counsel at least five business days prior to the Plan
confirmation hearing. Following the entry of the Plan Confirmation
Order, the Capital Contribution will be delivered to the Trustee to
be disbursed in the manner set forth herein. The cash on hand and
the Capital Contribution collectively comprise the Estate Funds
that will be used to fund the plan on the Effective Date.

In summary, the following projected estimated amounts will be
available to fund the Plan on the Effective Date:

    Cash on Hand:                       $180,000
    Capital Contribution:               $529,159
    Receivables:                        $456,782
                                     -----------
    Total:                            $1,165,942

The Reorganized Debtor will retain the outstanding accounts
receivable existing on the Plan Effective Date and use them to pay
all outstanding post-petition payables to the extent allowed by the
Court or otherwise negotiated between the Reorganized Debtor and
the holders of the post-petition payables and to fund the
Reorganized Debtor’s business operations.

Payments on the Plan Effective Date

The Trustee will use the Estate Funds to (i) pay all of the Plan
Effective Date Payments in full (estimated to consist of a total of
$7,097.03 to the Class 8 claim holders and a total of $4,588.29 to
the Class 9 Claim holders); (ii) pay all of the Non-Professional
Administrative Claims in full (estimated to consist of $1,685.33 to
the FTB; $546.46 to LA County; $19,092.87 to EDD; $16,000 to the
OUST; and $32,000 to the IRS); and (iii) pay $300,000 to the
Trustee and the Trustee’s bankruptcy counsel and financial
advisor (to the extent allowed by the Court. All of these payments
described in subsections (i), (ii) and (iii) immediately above are
collectively defined herein as the "Plan Effective Date Trustee
Payments").  The Trustee shall deliver to the Reorganized Debtor
the balance of the Estate Funds (estimated to be in the amount of
approximately $178,992 – defined herein as the "Remaining Estate
Funds") remaining after the Trustee has paid all of the Plan
Effective Date Trustee Payments to enable the Reorganized Debtor to
pay the balance of the payments required by the Plan.

Composition of Reorganized Debtor

On the Plan Effective Date, the Debtor's existing stock, shares,
and equity interests will be cancelled, and Winn (26.6%) and CNG
(73.4%) will each receive stock in the Reorganized Debtor (subject
to overbid).  All property of the Estate (with the exception of the
Estate Funds which will be distributed by the Trustee in the manner
set forth above and all avoidance causes of action which are being
assigned to the Trustee on the Plan Effective Date for the benefit
of creditors in the manner set forth herein) shall vest in the
Reorganized Debtor at the time when Winn and CNG (or a party that
overbids the proposed acquisition and sale price proposed by Winn
and CNG) receive their stock in the Reorganized Debtor.

Disbursing Agent

The Trustee shall act as the disbursing agent for disbursing that
portion of the Estate Funds necessary to enable the Trustee to pay
all of the Plan Effective Date Trustee Payments. The Reorganized
Debtor shall act as the  disbursing agent for the purpose of making
all other distributions under the Plan, including the distribution
of the Remaining Estate Funds. The Reorganized Debtor shall serve
in its role as a disbursing agent without bond and shall not
receive any compensation for distribution services rendered and
expenses incurred pursuant to the Plan. The Reorganized Debtor
shall serve in its role as a disbursing agent without bond and
shall not receive any compensation for distribution services
rendered and expenses incurred pursuant to the Plan.

Treatment of Executory Contracts and Unexpired Leases.

All of the Debtor's remaining executory contracts and unexpired
leases that have not previously been assumed or rejected by the
Debtor and that are not included on Exhibit 3, as may be amended up
until 14 days prior to the hearing on confirmation of the Plan,
will be deemed rejected effective as of the Plan Effective Date
unless specifically assumed herein on the Plan Effective Date. The
Plan specifically rejects the lease(s) with CNG Transportation LLC
for five ambulances effective as of the Plan Effective Date.

Employment of Professionals by the Reorganized Debtor and Payment
of Professional Fees and Expenses Incurred after the Effective
Date

On and after the Effective Date, the Reorganized Debtor shall have
the right to employ and compensate professionals as the Reorganized
Debtor determines is appropriate and to compensate any such
professionals without the need for any further order of the Court.
Similarly, on and after the Effective Date, the Trustee shall have
the right to employ and compensate professionals as the Trustee
determines is appropriate to enable the Trustee to distribute the
Estate Funds pursuant to the terms of the Plan, but the Trustee may
only compensate any such professionals out of the Estate Funds and
pursuant to the aggregate cap for administrative expenses of the
Estate of $300,000 set out in Section III(C)(1), above, without the
need for any further order of the Court.

The Trustee's Field Agent will not be compensated by the
Reorganized Debtor or the Estate after the Effective Date except
for any services rendered by the Field Agent prior to the Effective
Date but which come due after the Effective Date.

Receivables

As indicated above, the Reorganized Debtor will retain the
outstanding accounts receivable existing on the Plan Effective Date
and use them to pay all outstanding post-petition payables to the
extent allowed by the Court or otherwise negotiated between the
Reorganized Debtor and the holders of the post-petition payables
and to fund the Reorganized Debtor's business operations.

The ability of the Trustee and the Reorganized Debtor to make the
distributions described in the Plan on or near the Plan Effective
Date will be unrelated to future earnings or operations of the
company. The Trustee will use the cash he has on hand on the
Effective Date on hand coupled with the Capital Contribution to
make all of the Plan Effective Date Trustee Payments. The
Reorganized Debtor will use the Debtor’s accounts receivable and
the Remaining Estate Funds to pay the balance of the distributions
required to be made on or near the Plan Effective Date. The funds
to make the payments after the Plan Effective Date by the
Reorganized Debtor will come from the collection of the Medicare
A/R and the business operations of the Reorganized Debtor.

Discharge

Substantial consummation shall be deemed to have occurred 30 days
after the Trustee tenders the Remaining Estate Funds to the
Reorganized Debtor after all of the Effective Date payments have
been made. See Section III (E)(5) above.

A full-text copy of the Disclosure Statement dated August 3, 2020,
is available at https://tinyurl.com/y5umuy8g from PacerMonitor.com
at no charge.

Attorney for the Debtor:

     HENRY D. PALOCI III
     Henry D. Paloci III PA
     5210 Lewis Road #5
     Agoura Hills, CA 91301
     Telephone: 805.279.1225
     Facsimile: 866.565.6345
     hpaloci@hotmail.com

                   About MedCoast Medservice

MedCoast Medservice Inc. -- https://www.medcoastambulance.com/ --
provides emergency and non-emergency transportation to all of Los
Angeles, Orange County and South Bay areas. MedCoast Medservice is
a corporation whose primary business concerns the transport of
individuals (patients) to and from their homes or places of need to
hospitals, physicians, and/or health care providers. It operates
from a rented facility located at 14325 Iseli Road, Santa Fe
Springs, Calif.

MedCoast Medservice filed for Chapter 11 protection (Bankr. C.D.
Cal. Case No. 19-19334) on Aug. 9, 2019. In the petition signed by
Artina Safarian, its president, the Debtor disclosed assets at
$952,016 and liabilities at $2,615,768, of which approximately
$1,303,754 is owed for payroll taxes to the Internal Revenue
Service. Judge Sheri Bluebond is the case judge.

The Debtor tapped Henry D. Paloci III PA as its legal counsel, and
Riley Akopians & MSA CPAS, LLP as its accountant.

David Gottlieb was appointed as Debtor's Chapter 11 trustee. The
trustee tapped Levene, Neale, Bender, Yoo & Brill L.L.P. as his
bankruptcy counsel and Sherwood Partners, Inc. as his financial
advisor.


MICHAELS COS: S&P Affirms 'B' ICR, Alters Outlook to Positive
-------------------------------------------------------------
S&P Global Ratings affirmed its 'B' issuer credit rating on Irving,
Texas-based arts and crafts specialty retailer The Michaels Cos.
Inc. and revised its outlook to positive from negative.

At the same time, S&P assigned a 'B+' issue-level rating to the
company's proposed $1.62 billion senior secured term loan. The '2'
recovery rating reflects S&P's expectation for substantial
(70%-90%; rounded estimate: 70%) recovery in the event of a payment
default.

S&P is also affirming its 'CCC+' issue-level rating on the
company's senior unsecured notes due in 2027. The '6' recovery
rating indicates its expectation for negligible recovery (0%-10%;
rounded estimate: 0%).

Michaels is pursuing a refinancing transaction and has reported
positive sales momentum in its latest quarter.

The proposed transaction will improve the company's maturity
profile and allow sufficient liquidity to manage through residual
volatility stemming from the coronavirus pandemic.

While it will reduce the company's term loan balance by about $550
million, Michaels will seek $400 million of additional secured debt
funding, reducing its overall debt by about $150 million. S&P does
not anticipate additional meaningful debt reduction over the next
12 months.

As of the end of the second quarter, ended Aug. 1, 2020, Michaels
had a sizable cash balance of about $650 million as well as an
undrawn $850 million asset-based lending (ABL) revolving credit
facility, subject to a borrowing base. Its liquidity position
provides flexibility to execute strategic initiatives despite
lingering COVID-19-related risks affecting operations.

The company's strategic initiative to focus on its core maker
customer should help differentiate it from competitors despite
significant performance headwinds.

Michaels recently shifted its focus to better cater to these
customers. Efforts include improving value perceptions through a
better refined pricing strategy, managing inventory more
effectively, establishing its position as an expert in the maker
community, and offering additional resources to professional makers
through its new MichaelsPro program.

If executed successfully, S&P believes these programs could fend
off competitors and allow Michaels to maintain its position as the
top arts and crafts retailer in the U.S. However, relentless
competition continues from other specialty, big box, and online
retailers. With an abundance of retailers to choose from, consumers
will need strong incentives to shop at Michaels.

S&P believes the company's ability to offer a seamless shopping
experience between physical and digital channels is key to
retaining its market-leading position. While e-commerce penetration
increased over three times in the first half of 2020, some pullback
over the next 12 months is likely as more consumers begin to
venture out of their homes, requiring fewer arts and craft
supplies. S&P anticipates significant challenges competing
effectively with established online retailers and expect e-commerce
to represent less than 15% of sales over the long term.

S&P expects operating performance to moderate over the remainder of
the year and margins to remain below those of 2019.

Sales and earnings sharply deteriorated in the first quarter due to
the initial shock of the COVID-19 pandemic and mandated store
shutdowns. However, upon reopening its stores and improving its
e-commerce platform, Michaels' comparable sales rose 12% in the
second quarter.

"We believe the pandemic increased demand for arts and crafts
supplies as customers seek various forms of at-home entertainment.
We also attribute some revenue growth to government stimulus
payments, as well as the closure of A.C. Moore stores, which
transferred some sales to Michaels," S&P said.

"We anticipate customer behavior will normalize over the remainder
of the year, with overall sales for fiscal 2020 declining in the
low- to mid-single-digit percentage area. Still, we acknowledge
significant uncertainty remains over the next 12 months given the
ambiguity related to future government stimulus actions and
unprecedented unemployment, which we expect to hinder consumer
spending," the rating agency said.

While margins remained pressured in the second quarter, this was
primarily driven by $52 million of one-time charges related to
Darice's inventory liquidation. S&P forecasts moderating
profitability over the remainder of the year, with full-year EBITDA
margin in the mid-17% area, more than 400 basis points (bps) below
2019, including the impact of inventory liquidations. In fiscal
2021, S&P forecasts EBITDA margin in the low-20% area, about 200
bps below 2019, reflecting incremental tariff costs, margin
dilution from increased e-commerce penetration, and a highly
competitive retail environment.

"The positive outlook reflects our view that successful
implementation of Michaels' initiatives may alleviate recent
declining market share trends. We may upgrade the company if we
expect it to maintain its competitive position with less volatile
operating results following the coronavirus pandemic," S&P said.

S&P could raise the rating if:

-- S&P believes execution risks associated with Michaels'
strategic initiatives including its maker strategy have abated, and
it expects it to retain market share;

-- S&P anticipates normalized free operating cash flow (FOCF) of
around $300 million or better on a sustained basis;

-- S&P expects leverage sustained in the low-4x area; and

-- The company generates consistently positive same-store sales
and maintains adjusted EBITDA margin in the low-20% area.

S&P could revise its outlook to stable or lower its rating if:

-- Management missteps in executing its initiatives result in
performance volatility;

-- S&P anticipates FOCF deteriorating below $300 million on a
sustained basis;

-- Leverage increases to the mid-4x area or higher; or

-- Competitive pressures intensify and deteriorate profitability,
with declining comparable sales and adjusted EBITDA margin below
20%.


NEW HILLCREST: Case Summary & 3 Unsecured Creditors
---------------------------------------------------
Debtor: New Hillcrest Inc.  
        701 N. Hillcrest Road
        Beverly Hills CA 90210

Chapter 11 Petition Date: September 15, 2020

Court: United States Bankruptcy Court
       Central District of California

Case No.: 20-18370

Judge: Hon. Neil W. Bason

Debtor's Counsel: Brett H. Ramsaur, Esq.
                  RAMSAUR LAW OFFICE
                  27075 Cabot Road, Suite 110
                  Laguna Hills, CA 92653
                  Tel: 949-200-9114
                  Email: brett@ramsaurlaw.com

Estimated Assets: $10 million to $50 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by Andre Djaafar, director.

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

https://www.pacermonitor.com/view/UH77ABI/New_Hillcrest_Inc__cacbke-20-18370__0001.0.pdf?mcid=tGE4TAMA

List of Debtor's Three Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
1. Franchise Tax Board                                    Unknown
Bankruptcy Section MS A-340
PO Box 2952
Sacramento, CA 95812-2952

2. Internal Revenue Service                                Unknown
PO Box 7346
Philadelphia, PA 19101-7346

3. Fred Wolf & Associates Inc          Services         $1,900,000
9478 W Olympic Blvd #300
Beverly Hills, CA 90212
Fred Wolf
Tel: 310-551-5275


NEW RESIDENTIAL INVESTMENT: S&P Assigns 'B' ICR; Outlook Negative
-----------------------------------------------------------------
S&P Global Ratings assigned its 'B' issuer credit rating to New
Residential Investment Corp. (NRZ). The outlook is negative. At the
same time, S&P assigned its 'B-' issue rating to the company's
proposed $550 million senior unsecured notes.

NRZ is a real estate investment trust focused on identifying,
managing, and investing in mortgage-related assets, including
operating companies, that offer attractive risk-adjusted returns.
Its portfolio currently consists of mortgage-servicing-related
assets (including investments in servicing, origination, and other
ancillary operating businesses), residential mortgage-backed
securities (RMBS) and loans, consumer loans, and other
opportunistic investments. The company was spun out of Newcastle
Investment Corp. (now Drive Shack) in May 2013 and is externally
managed by an affiliate of Fortress Investment Group. As of June
30, 2020, the company has six segments: originations, servicing,
MSR-related investments, residential securities and loans, consumer
loans, and corporate.

NRZ is an operator of mortgage businesses as well as a capital
provider that invests in mortgage-related assets in the secondary
market. It grew to become one of the largest holders of MSRs
through its mortgage investment strategy. Then, on July 3, 2018,
NRZ developed an origination platform of its own by completing the
acquisition of Shellpoint Partners LLC, a mortgage originator and
servicer. The company further grew its operating business through
the acquisition of Ditech's origination and servicing platform in
October 2019.

The company expects origination volume of $50 billion and servicing
unpaid principal balance of $325 billion from its operating
businesses in 2020. NRZ's income comes from earnings from its
operating businesses and the spread income generated from
investments between the yield on its assets and the cost of funding
those assets. Assets are funded through short-term debt facilities,
typically recourse repurchase facilities with margin-call exposure,
through term funding without margin-call exposure, or through the
securitization market.

Compared with mortgage originators and mortgage servicers that
solely rely on operating businesses, acquiring assets in support of
or to grow an origination or servicing platform, NRZ is helped by a
strategy that allows it to be opportunistic in asset acquisition
across all mortgage assets, including securitization assets, MSRs,
and whole loans. The company also has extensive agreements with Mr.
Cooper, PHH, Altisource, LoanCare, and SLS.

NRZ's acquisitions of Ditech assets and Shellpoint give the firm
more ability to originate loans and service its owned MSRs in
house. However, the company still has subservicing agreements with
Flagstar, Mr. Cooper, PHH, and LoanCare. MSRs are the rights to
service a mortgage and collect a portion of the interest and
ancillary fees, such as late fees, on the loan. Excess MSRs are
essentially a portion of the MSRs--the rights to collect a portion
of the cash flow generated by the MSRs without taking on any of the
operational aspects of servicing the mortgage, similar to an
interest-only strip. The company's operating businesses also give
it the capacity to originate mortgages in house, which S&P believes
will offset a portion of the run-off in its mortgage assets.

"We expect debt to adjusted total equity (ATE) to be 3.0x-4.0x over
the next two years. NRZ's balance sheet is highly encumbered
because it uses repurchase agreements, secured term debt, and
securitizations to bolster its leverage and investments," S&P said.


"Although we believe this strategy is relatively scalable and
produces strong profitability in benign economic conditions, we
believe the high encumbrance could severely limit financial
flexibility if markets were to become dislocated for an extended
period," the rating agency said.

This was evidenced by the market dislocation in RMBS that began in
March of this year due to the economic impact of COVID-19. At the
end of 2019, the company had an investment portfolio of $32.6
billion that was largely funded with repurchase agreements with the
potential for margin calls, totaling $27.9 billion. The size of the
investment portfolio peaked at $40.6 billion in the first quarter
of 2020 before the company sold a large portion of assets to raise
liquidity and meet margin calls.

The company realized losses of $875 million from sale of
investments for the first six months of 2020, of which $761 million
were losses from the sale of real estate securities, alongside a
decrease of $464 million in fair value of investments. These losses
lowered total stockholders' equity to $5.3 billion as of June 30,
2020, from $7.2 billion as of year-end 2019.

The sales during the first half of the year, in addition to
generating losses, decreased leverage, decreased the company's
exposure to repurchase funding, and increased liquidity. The
company's leverage as of June 30, 2020 is now 3.1x as measured by
debt to ATE, down from 5.0x as of year-end 2019. Repurchase funding
outstanding is now $9.2 billion, from $27.9 billion, and
unrestricted cash is now approximately $1.0 billion, from $529
million. The company also decreased its reliance on repurchase
financing with daily mark to market outside of its agency MBS
portfolio. For example, 1% of the MSR portfolio is subject to daily
mark to market, compared with 36% as of March 31, 2020. Residential
loan mark-to-market exposure decreased to 9% from 78%, and
nonagency RMBS decreased to 16% from 50%.

However, agency RMBS continues to be funded with mark-to-market
repurchase agreements, which totaled $3.9 billion as of June 30,
2020, and the company had a total of $9.2 billion in repurchase
agreements outstanding with an average weighted life of 0.3 year,
which funding S&P considers a risk to liquidity, although agency
RMBS normally are highly liquid. The company's reliance on
short-term repurchase financing, primarily to fund Agency
securities and newly originated mortgage loans, also influences
S&P's stable funding and liquidity coverage metrics. S&P's stable
funding ratio is 54.8% as of June 30, 2020, and its liquidity
coverage metric is 0.1x.

"We view NRZ's unsecured issuance as leverage neutral because
proceeds will mainly be used to repay its existing term loan. We
believe this transaction marginally diversifies NRZ's funding while
decreasing its reliance on secured financing," S&P said.

"This continues a trend of an improving funding mix as the company
has moved away from mark to market and toward increased use of term
funding. However, we still view the company's funding profile as a
weakness to the rating, due to its significant use of short-term
repurchase facilities," the rating agency said.

Pro forma for the transaction, the company will have $1.9 billion
of unencumbered assets, including approximately $1.0 billion of
unrestricted cash, and $3.9 billion of residual collateral. The
unsecured notes will have a covenant of 1.2 unencumbered assets to
debt.

S&P's ratings on NRZ's senior unsecured debt are one notch lower
than the issuer credit rating because priority debt significantly
exceeds 30% of adjusted assets.

S&P's negative outlook on NRZ reflects the possibility that further
deterioration in macroeconomic conditions could erode the company's
liquidity because of further margin calls, and that leverage may
come under pressure from further decreases in the fair value of the
company's investments over the next 12 months. S&P expects leverage
over the next 12 months will be 3.0x-4.0x as measured by debt to
ATE.

"We could revise the outlook to stable over the next 12 months if
the company is able to further reduce mark-to-market funding and
reduce its use of short-term recourse repurchase financing in favor
of longer-dated funding sources while maintaining leverage within
our expected range or below," S&P said.

"We could lower the rating over the next year if leverage rises,
specifically if debt to ATE rises above 4.5x due to rapid growth or
growing losses, or if the company increases its use of repurchase
agreements. We could also lower the rating if the company has
trouble renewing any of its funding facilities or if margin calls
stress the company's liquidity, in our view," the rating agency
said.


NEWS-GAZETTE: Unsecured Creditors to Split $250,000 in Plan
-----------------------------------------------------------
The News-Gazette, Inc., et al., filed an Amended Plan of
Liquidation and a corresponding Disclosure Statement.

The Plan provides for the Debtors, and the Reorganized Debtors
after the Effective Date, to liquidate the remaining Assets of the
Debtors and their Estates (referred to as the "Reorganized Debtor
Assets"), including investigation and, if appropriate after
investigation, prosecution of Retained Causes of Action.  The Plan
provides for the distribution of the remaining Assets to classes of
creditors in the order of priority. After payment in full to
Holders of Administrative, Priority and Secured Claims, the Plan
establishes a reserve fund of $250,000 to be distribution ratably
to Holders of General Unsecured Creditors with the remaining
Reorganized Debtor Assets (net of the costs of administering the
Plan), to be Distributed ratable to Holders of Pension Claims.

A full-text copy of the Amended Disclosure Statement dated August
3, 2020, is available at https://tinyurl.com/yy3wkgx8
PacerMonitor.com at no charge.

Co-Counsel to the Debtors:

     Nicholas M. Miller
     Michael J. Kaczka
     McDONALD HOPKINS LLC
     300 N. LaSalle Street, Suite 1400
     Chicago, IL 60654
     Telephone: (312) 280-0111

        - and -

     William E. Chipman, Jr.
     Mark D. Olivere
     CHIPMAN BROWN CICERO & COLE, LLP
     Hercules Plaza
     1313 North Market Street, Suite 5400
     Wilmington, DE 19801
     Telephone: (302) 295-0191

                    About The News-Gazette

The News-Gazette is a daily newspaper serving 11 counties in the
eastern portion of Central Illinois and specifically the
Champaign-Urbana metropolitan area.

The News-Gazette Inc. and its debtor affiliates sought protection
under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case
No. 19-11901) on Aug. 30, 2019. 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
Karen B. Owens oversees the case.  William E. Chipman, Jr., at
Chipman Brown Cicero & Cole, LLP, is the Debtors' legal counsel.


NIELSEN FINANCE: S&P Rates New Senior Unsecured Notes 'BB-'
-----------------------------------------------------------
S&P Global Ratings assigned its 'BB-' issue-level rating and '5'
recovery rating to Nielsen Finance LLC's and Nielsen Finance Co.'s
proposed senior unsecured notes (split between eight- and 10-year
tranches) and placed them on CreditWatch with negative
implications.

The '5' recovery rating indicates S&P's expectation for modest
recovery of principal (10%-30%; rounded estimate: 20%) in the event
of a payment default. Nielsen plans to use the proceeds to repay
unsecured notes.

All of S&P's ratings on Nielsen, including the 'BB' issuer credit
rating, remain on CreditWatch, where the rating agency placed them
with negative implications on Nov. 7, 2019, following the announced
spin-off of its Global Connect business. In resolving its
CreditWatch, S&P will assess the strength of the legacy business
and Nielsen's ability to maintain its leading position in media
measurement. S&P could change its view of the strength of the
company's business and adjust its leverage thresholds accordingly.
In addition, S&P will take into account the magnitude of the
stand-up costs and investments needed to ensure a smooth
separation. As part of this transaction, Nielsen provided
preliminary pro forma financials and capital structure for each
business. On a pro forma basis, it estimates S&P-adjusted leverage
is about 5.25x as of June 30, 2020. S&P expects adjusted leverage
to remain relatively stable until the spin-off is completed in
early 2021, though that will depend on second-half 2020 performance
and final terms of the separation.

"We expect to resolve the CreditWatch closer to the expected
spin-off closing. Based on the expectation that the Connect
business will take on approximately $1 billion of debt, we now
expect Nielsen's pro forma adjusted leverage to be around 5x," S&P
said.

"As we assess possible outcomes, we could affirm the rating if our
view of the business is unchanged and we expect leverage below 5x
on a sustained basis at close. Alternatively, we could lower the
rating one notch if we view the business less favorably or expect
adjusted leverage above 5x on a sustained basis," the rating agency
said.


OLB GROUP: Daszkal Bolton Replaces Marcum as Accountant
-------------------------------------------------------
The Audit Committee of the Board of Directors of The OLB Group,
Inc. dismissed Marcum LLP, the Company's independent registered
public accounting firm, effective on Sept. 11, 2020.  During the
fiscal years ended Dec. 31, 2019 and 2018, Marcum's audit reports
on the Company's financial statements did not contain an adverse
opinion or disclaimer of opinion, nor were they qualified or
modified as to uncertainty, audit scope or accounting principles.
During the fiscal years ended Dec. 31, 2019 and 2018 and the
subsequent period through Sept. 14, 2020 (the date of this Current
Report on Form 8-K), (i) there were no disagreements between the
Company and Marcum on any matter of accounting principles or
practices, financial statement disclosure or auditing scope or
procedures, which disagreements, if not resolved to Marcum's
satisfaction, would have caused Marcum to make reference in
connection with Marcum's report to the subject matter of the
disagreement; and (ii) there were no "reportable events" as the
term is described in Item 304(a)(1)(v) of Regulation S-K, except
for the disclosure of material weaknesses in the Company's internal
controls over financial reporting as disclosed in Part II, Item 9A
of the Company's Form 10-K for the year ended Dec. 31, 2019.

On Sept. 11, 2020, the Committee approved the engagement of Daszkal
Bolton LLP as the Company's new independent registered public
accounting firm, effective immediately.  During the fiscal years
ended Dec. 31, 2019 and 2018 and through Sept. 15, 2020 (the date
of this Current Report on Form 8-K), neither the Company nor anyone
acting on its behalf consulted Daszkal with respect to (i) the
application of accounting principles to a specified transaction,
either completed or proposed, nor the type of audit opinion that
might be rendered on the Company's financial statements, and
neither a written report was provided to the Company nor oral
advice provided that Daszkal concluded was an important factor
considered by the Company in reaching a decision as to any
accounting, auditing or financial reporting issue; or (ii) any
matter that was the subject of a disagreement or a "reportable
event" as described in Items 304(a)(1)(iv) and (v), respectively,
of Regulation S-K.

                         About OLB Group

Headquartered in New York, The OLB Group, Inc. --
http://www.olb.com/-- is a payment facilitator and commerce
service provider that delivers fully outsourced private label
shopping solutions to highly trafficked websites and retail
locations.  The Company provides end-to-end e-commerce, mobile and
retail solutions to customers.  These services include electronic
payment processing, cloud-based multi-channel commerce platform
solutions for small to medium-sized businesses and crowdfunding
services.  The Company is focused on providing these integrated
business solutions to merchants throughout the United States
through three wholly-owned subsidiaries, eVance, Inc., Omnisoft.io,
Inc., and CrowdPay.us, Inc.

OLB Group reported a net loss of $1.34 million for the year ended
Dec. 31, 2019, compared to a net loss of $1.39 million for the year
ended Dec. 31, 2018.  As of June 30, 2020, the Company had $11.30
million in total assets, $15.01 million in total liabilities, and a
total stockholders' deficit of $3.70 million.


OMNITRACS HOLDINGS: S&P Downgrades ICR to 'B-'; Outlook Stable
--------------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on U.S.-based
provider of fleet management solutions to the trucking industry
Omnitracs Holdings LLC and the company's existing first-lien credit
facilities to 'B-' from 'B'.  It also revised the outlook on the
issuer credit rating to stable from negative.

Omnitracs recently agreed to acquire video safety provider
SmartDrive Systems Inc. The deal will be largely funded by an
incremental $160 million first-lien term loan and a new $195
million second-lien term loan.  S&P assigned a 'B-' issue-level
rating to the proposed incremental first-lien term loan and 'CCC'
to the second-lien term loan.

The acquisition of SmartDrive will increase leverage to elevated
levels over the next 12 months. Omnitracs' pro forma leverage is
expected to remain above 10x over the next 12 months due to $355
million of additional debt incurred to fund the SmartDrive
acquisition, as well as immediate EBITDA margin dilution by four
percentage points to about 15% on a pro forma basis from
consolidating the less profitable SmartDrive business. This is well
above the 7x leverage level S&P considers to be in line with a 'B'
rating.

"Our adjusted debt, operating cash flow, and EBITDA include
standard adjustments for operating leases, capitalized software
development costs, and share-based compensation. We do not net
accessible cash from our debt figures, based on our view that it
could be used for acquisitions or other purposes given the
company's financial sponsor ownership," S&P said.

SmartDrive improves the strength of Omnitracs' product portfolio
and increases its exposure to a faster-growing segment. The
consolidation of SmartDrive offers Omnitracs more robust, premium
video-based safety and driver coaching capabilities and an
established position in this nascent market segment. According to
Frost & Sullivan, SmartDrive is the second-largest player, with an
18% share based on 2018 revenues, but behind the leader Lytx, which
has a 60% share. This is also a fast-growing market with an
expected compound annual growth rate (CAGR) of over 20% between
2018 and 2023 due to increasing adoption of video safety and driver
coaching solutions in truck fleets. SmartDrive had a 35% revenue
CAGR between 2015 and 2019.

Revenue growth and EBITDA margins should improve post-transaction
close, helping to reduce near-term leverage. Further revenue growth
opportunities from this acquisition come in the form of
cross-selling across Omnitracs' and SmartDrive's existing customer
bases, and this comes on top of the upselling capabilities that the
Omnitracs One platform will provide as it continues to be rolled
out.

"Therefore, in addition to the upcoming need for 3G to 4G device
upgrades, we expect Omnitracs to return to at least
mid-single-digit revenue growth over the next few fiscal years.
However, this also assumes a more stable U.S. macroeconomic
environment, and we view the recovery path as uncertain, and
general freight demand in the trucking industry somewhat depends on
the reopening and return to normal business activity for certain
economic sectors," S&P said.

Following the immediate EBITDA margin dilution upon transaction
close, S&P also expects pro forma margins to start improving in
fiscals 2021 and 2022 from realized cost savings, the absence of
one-off expenses in fiscal 2020 related to legacy products and
cellular data charges, and a steady reduction of integration,
next-generation platform development, and restructuring-related
costs. As a result, S&P expects EBITDA margins to trend toward 20%
by fiscal 2022 and leverage to reduce below 10x by then.

Omnitracs should maintain positive free operating cash flows (FOCF)
and sufficient liquidity despite increased cash interest.

The increased debt balance should raise Omnitracs' annual cash
interest burden by over $20 million to above $50 million. While
this will likely reduce the company's FOCF generation, S&P still
expects positive FOCF of about $30 million in fiscal 2021 helped
partly by reduced capital expenditures (capex) related to the
buildout of the Mexico development and operations center.
Therefore, coupled with about $96 million of total cash and
revolving credit facility (RCF) availability as of June 30, 2020,
pro forma for the transaction, S&P expects Omnitracs to maintain
sufficient liquidity over the next 12 months.

"The stable outlook reflects our expectation that Omnitracs will
successfully integrate SmartDrive and make progress in its product
investment and cost reduction activities such that pro forma EBITDA
margins improve to the mid- to high-teens area in fiscal 2021 and
reduce leverage toward 10x," S&P said.

"When integration and investment activities are complete, we expect
leverage to reduce further in fiscal 2022 as margins improve," the
rating agency said.

S&P could lower its rating if it views Omnitracs' new debt capital
structure to be unsustainable as a result of:

-- Omnitracs not being able to generate positive FOCF and its
liquidity position worsening materially due to consistently
elevated capex and net working capital outflows;

-- Significant execution issues with the SmartDrive integration or
product development and restructuring activities such that EBITDA
margins remain below 15% in the long run; and

-- A persistently unfavorable macroeconomic environment or lower
revenue retention rates leading to sustained revenue declines.

While S&P views it as unlikely within the next 12 months due to the
high pro forma closing leverage of just below 14x, it could raise
its rating if:

-- S&P expects Omnitracs to keep leverage below 7x and FOCF to
debt at about 5% even after accounting for acquisitions;

-- Omnitracs successfully completes its integration, product
investment, and cost reduction activities such that cost synergies
and savings improve EBITDA margins to well above 20%; and

-- The company maintains at least mid-single-digit revenue growth
driven by the continued rollout of Omnitracs One and the
cross-selling opportunities from the SmartDrive consolidation.


OTTO J. SIMMANK: Texas SN Buying Houston Property for $2.9 Million
------------------------------------------------------------------
Otto John Simmank, and wife, Mina Sue Simmank, ask the U.S.
Bankruptcy Court for the Western District of Texas to authorize the
sale of their real property and improvements described as 8301
Jones Rd., Houston, Texas to Texas SN Investments, LLC and/or
assigns for$2.9 million.

The real property is subject to liens to Propel Financial Services
and Caz Creek TX, LLC (ad valorem tax liens); US. Small Business
Administration; and Harris County and Cypress-Fairbanks ISD (2019
ad valorem taxes).  The Debtors scheduled the Jones Property with a
value in the amount of $3.5 million.

The Debtors propose to sell the Jones Property to the Buyer for the
cash sales price in the amount of $2.9 million.  Through their
realtor Ryan Ward, the Debtor have worked diligently to sell the
Jones Property despite the Covid pandemic, and have had interest
from multiple parties prior to the proposed sale.  They believe
that the proposed sale of the Jones Property will generate a
reasonable value based upon the asset proposed to be sold and its
marketability in today's Covid pandemic.

The real property is subject to the described liens totaling the
approximate amount $525,000, and was claimed as exempt by the
Debtors on Schedule C, to which several Objections were filed, with
a pending hearing date on Aug. 31, 2020, the same date as the
confirmation hearing scheduled on the competing Chapter 11 Plans
filed by the Debtors and Glen Cronin/Janna Wallace.  The Debtors'
claim of exemption in the Jones Property is pending as of the
filing of the Motion.

The Debtors propose to use the sales proceeds to satisfy normal
closing costs, as well as all valid liens against the Jones
Property and allowed administrative claims, U.S. Trustee fees, etc.
as set forth in the terms of the Plan with the excess sales
proceeds to be escrowed in their counsel's firm trust account
subject to further order of the Court.  There is a pending appeal
by the Debtors against the unsecured claim asserted by Glen
Cronin/Janna Wallace (in the amount of $2,817,148).  The sales
proceeds are subject to the Debtors' claim of exemption.

The Debtors are asking that the sale will be free and clear of all
liens, claims and encumbrances, with the existing liens
automatically attaching to the sales proceeds in the order of their
pre-petition priority.

The Debtors are proposing to sell the vehicle be free and clear of
all liens, claims and encumbrances.

A copy of the Agreement is available at
https://tinyurl.com/y3svrg7w from PacerMonitor.com free of charge.

On June 14, 2019, Otto John Simmank and Mina Sue Simmank filed
their voluntary Petition for Relief under Chapter 13 of U.S.
Bankruptcy
Code.  The case was converted to a case under Chapter 11 (Bankr.
W.D. Tex. Case No. 19-51435) on Sept. 18, 2019.



PARK HEIGHT'S: Tenant Buying Baltimore Property for $175K
---------------------------------------------------------
Park Height's Angel, Inc., asks the U.S. Bankruptcy Court for
District of Maryland to authorize the sale of the parcel of real
estate located at 2708 Oakley Avenue, Baltimore, Maryland to Alice
L. Fleming for $175,000.

The Debtor owns the Property.

The Property is subject to a first lien in the amount of $85,000 in
favor of the Harbor Bank of Maryland ("HBM"), a second lien in the
amount of $25,000 in favor of the Novak Financial, Inc. and a third
lien in the amount of $95,000 in favor of the Harbor Bank of
Maryland Community Development Corp. ("HBMCDC").   It is also
encumbered by judgments liens from HBMD, HBMDCDC and 1Sharpe Opp.
Intermediate Trust.

The Debtor has received an offer to purchase the property from the
Debtor's Tenant, the Buyer, for the Property in the amount of
$175,000.  They have executed their Purchase Agreement.   The
parties have agreed to extend the settlement date to a time after
the Court approves the sale.

The Debtor asks the Court's approval to sell 2708 Oakley free and
clear of all liens, claims, encumbrances, including but not limited
to: (i) all mortgages, judgments, liens and lis pendens of record;
and (ii) all claims of ownership or other equitable rights of any
party of any kind.

The sale of the property benefits the Debtor and all creditors of
the Debtor as it removes its obligations to make payments to HBMD
and HBMDCDC.  Additionally, it will provide proceeds to the
bankruptcy estate that will be utilized for the benefit of
Creditors.

The Debtor asks that the Court approves its payment at settlement
of all normal and customary closing costs associated with the
Property, including real estate taxes, commissions, all transfer
tax, and all fees to the title company.  It will deliver to
entities holding liens of the Property a final settlement
statement.

The Debtor asks that after payment of the Closing Costs, it will
pay the remaining net proceeds of the of the sale at settlement to
The Harbor Bank of Maryland, and the Court approves such payment of
the net Proceeds from the sale of the Property to The Harbor Bank
of Maryland, the Creditor that holds a deed of trust that is in
first lien position against the Property.   

The parties are prepared to go to closing immediately and are
awaiting the Court's approval of the sale to complete the
transaction.

In light of the foregoing, the Debtor has determined that the Sale
of the Property to the Buyer's terms and conditions set forth in
the Agreement is appropriate and is in the best interest of the
estate and all parties in interest.

A copy of the Agreement is available at
https://tinyurl.com/y56hrz7x from PacerMonitor.com free of charge.

Park Height's Angel, Inc., sought Chapter 11 protection (Bankr. D.
Md. Case No. 20-12756) on March 3, 2020.  The Debtor tapped Craig
A. Butler, Esq., at The Butler Law Group, PLLC, as counsel.


PDC ENERGY: S&P Affirms BB Long-Term ICR, Alters Outlook to Stable
------------------------------------------------------------------
S&P Global Ratings affirmed its 'BB' long-term issuer credit rating
and senior unsecured issue-level rating on Denver-based exploration
and production company PDC Energy Inc., and revised its outlook to
stable from negative.

"The stable outlook reflects our expectation that financial
measures will be adequate for the rating over the next couple of
years, with average FFO to debt in the 45% to 50% range," S&P
said.

S&P expects PDC's free cash flow generation will be higher than
previously expected in 2020 and 2021 due to lower capital spending
and cost reductions. The company has reduced its capital
expenditure (capex) guidance for 2020 to about $550 million, a 50%
drop from its beginning of the year guidance. At the same time, PDC
has made progress reducing selling, general, and administrative
expenses and operating costs in second-quarter 2020, following the
integration of the SRC acquisition in first-quarter 2020. S&P also
expects the company to maintain relatively flat average production
levels in 2020 and 2021, despite much lower capital spending
levels, due to its large inventory of drilled uncompleted wells
(DUCs). As a result, the rating agency now forecasts the company
will generate $200 million-$300 million free cash flow per year in
2020 and 2021.

S&P expects the company's funds from operations (FFO) to debt to
average around 50% over the next couple years, which is adequate
for the rating. Under S&P's price assumptions of West Texas
Intermediate (WTI) of $25 per barrel (bbl) in 2020 and $45/bbl in
2021, the rating agency forecasts this metric to weaken to around
40%-45% this year, before improving to about 55% in 2021. S&P notes
that 70% of remaining 2020 production and about 45% of expected
2021 production is hedged at favorable prices, which provide some
downside protection to potential volatility in commodity prices.
S&P assumes PDC will continue its cost reduction efforts, and
moderate capital spending and shareholder returns to strengthen its
balance sheet through the end of 2021.

The company's business risk is on the stronger end compared to
peers. PDC is larger than similarly rated peers; the combined
company has approximately 182,000 net acres in the core Wattenberg
Field in the Denver-Julesburg (DJ) Basin and 33,000 net acres in
the Delaware Basin. PDC's acreage in the DJ Basin is 100% in Weld
County, 80% of which is in unincorporated rural areas, providing
some cushion to the recent regulatory changes in that region.
Production in the first half of 2020 was 190 thousand barrels of
oil equivalent per day (mboe) and proved reserves were about 905
mmboe. The company benefits from some geographic diversity;
however, about 63% of its reserves are classified as proved
undeveloped, which will require significant capex to develop.

"The stable outlook reflects our expectation that PDC Energy will
maintain a conservative financial policy and align spending with
cash flows while continuing to develop its DJ Basin and Permian
assets over the next 12 months. As a result, we forecast the
company will maintain FFO to debt comfortably above 45% over the
same period," S&P said.

S&P could lower the rating on PDC Energy if:

-- The lower commodity price environment remains for a sustained
period, leading to a decline in profitability; or

-- Management pursues a more aggressive spending plan, resulting
in weaker credit measures, including FFO to debt below 45% on an
ongoing basis.

S&P could raise its rating on PDC Energy if:

-- The company increases its proved reserves and production to
levels more comparable with higher-rated peers, while maintaining
moderate credit measures, including FFO to debt above 60%, and at
least adequate liquidity.

-- PDC Energy generates free cash flow and establishes a track
record as a larger company while continuing to diversify its asset
base.


PLATINUM GROUP: Lion Granted US Patent for its Battery Technologies
-------------------------------------------------------------------
The U.S. Patent and Trademark Office has issued Patent No.
10,734,636 B2 entitled "Battery Cathodes for Improved Stability" to
Florida International University ("FIU").  Under a sponsored
agreement, Lion has exclusive rights to all technology being
developed by FIU included patents granted.

The patent includes the use of platinum group metals and carbon
nanotubes and other innovations in a lithium battery.

Lion was jointly formed in 2019 by Platinum Group Metals Ltd. and
Anglo American Platinum Limited to accelerate the development of
next-generation battery technology using platinum and palladium.

Under the Sponsored Agreement, research and patent applications are
being funded to unlock the potential of Lithium Air and Lithium
Sulfur battery chemistries by using the catalytic properties of
platinum and palladium.  Research is led by Dr. Bilal El-Zahab who
completed post doctoral work at MIT along with a team that includes
six specialist nano-materials and battery post doctoral fellows.
The team at FIU has completed the first year of research and
surpassed their first technical milestone. Further patent
applications have been filed.

R. Michael Jones, CEO of Platinum Group said: "The initial patent
grant is the first significant milestone towards our objectives to
both capitalize on a true cutting-edge innovation and drive demand
for PGMs at the same time."

                     About Platinum Group Metals

Headquartered in British Columbia, Canada, Platinum Group Metals
Ltd. -- http://www.platinumgroupmetals.net/-- is a platinum and
palladium focused exploration, development and operating company
conducting work primarily on mineral properties it has staked or
acquired by way of option agreements or applications in the
Republic of South Africa and in Canada.  The Company's sole
material mineral property is the Waterberg Project.  The Company
continues to evaluate exploration opportunities both on currently
owned properties and on new prospects.

PricewaterhouseCoopers LLP, in Vancouver, Canada, the Company's
auditor since 2007, issued a "going concern" qualification in its
report dated Nov. 25, 2019, citing that the Company has suffered
recurring losses from operations and has significant amounts of
debt payable without any current source of operating income.  The
Company also has a net capital deficiency that raise substantial
doubt about its ability to continue as a going concern.

Platinum Group reported a net loss of $16.77 million for the year
ended Aug. 31, 2019, compared to a net loss of $41.02 million for
the year ended Aug. 31, 2018.  As of Aug. 31, 2019, Platinum Group
had $43.66 million in total assets, $44.82 million in
total liabilities, and a total shareholders' deficit of $1.16
million.


PLUM CIRCLE: Trustee Hires Oscher Consulting as Accountant
----------------------------------------------------------
Steven Oscher, Chapter 11 trustee for the bankruptcy estate of Plum
Circle Community Trust, received approval from the U.S. Bankruptcy
Court for the Middle District of Florida to retain Oscher
Consulting, P.A. as his accountant.

Oscher will provide forensic accounting, bookkeeping and general
accounting services necessary to administer Debtor's bankruptcy
estate.  The firm will also assist in investigating into and in
locating assets owned or recoverable by Debtor.

Oscher Consulting will be paid at hourly rates as follows:

     Marie Edmonson, Senior Consultant     $340
     Carrie Macsuga, Consultant            $250
     Janica Cashwell, Paraprofessional     $125
     Dawne Jones, Paraprofessional         $140
     Tara Puigdomenech, Paraprofessional   $140

Steven Oscher, the firm's accountant who will be providing the
services, disclosed in court filings that the firm is
"disinterested" within the meaning of Section 101(14) of the U.S.
Bankruptcy Code.

The firm can be reached through:

     Steven S. Oscher, CPA
     Oscher Consulting, P.A.
     201 North Franklin Street, Suite 3150
     Tampa, FL 33602
     Tel:  813-229-8250
     Email: info@oscherconsulting.com
     Fax:  813-229-8674

                 About Plum Circle Community Trust

Plum Circle Community Trust sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. M.D. Fla. Case No. 20-04249) on May 31,
2020.  At the time of the filing, Debtor had estimated assets of
between $1 million and $10 million and liabilities of between
$500,001 and $1 million.  Judge Catherine Peek McEwen oversees the
case.  

Dion R. Hancock, P.A. is Debtor's legal counsel.

Steven S. Oscher was appointed as Chapter 11 trustee for Debtor's
bankruptcy estate on Aug. 19, 2020.  Trenam, Kemker, Scharf,
Barkin, Frye, O'Neill & Mullis, P.A. and Oscher Consulting, P.A.
serve as the trustee's legal counsel and accountant,respectively.


PM GENERAL: Moody's Assigns B2 CFR, Outlook Stable
--------------------------------------------------
Moody's Investors Service assigned initial ratings to PM General
Purchaser LLC, the entity through which AM General, LLC will be
sold from one financial sponsor to another. A corporate family
rating of B2, a probability of default rating of B2-PD, and a B2
rating for $600 million of senior secured notes being arranged to
augment equity funding of the acquisition which is scheduled to
close in the fourth quarter of 2020 have been assigned. The ratings
outlook is stable.

"Initial credit metrics will be solid for the assigned rating
level," according to Moody's Vice President and lead analyst Bruce
Herskovics, "but we also factor in AM General's dependence on a
single, relatively mature product for which orders could materially
decline with lower US defense spending." Herskovics also noted that
the company's bond heavy capital structure will also make debt
reduction unlikely, at least for the next three years.

The rapid spread of the coronavirus outbreak, a deteriorating
global economic outlook, low oil prices and high asset price
volatility have created an unprecedented credit shock across a
range of sectors and regions. Moody's regards the coronavirus
outbreak as a social risk under its ESG framework, given the
substantial implications for public health and safety. The actions
reflect the impact on AM General of the modest deterioration in
credit quality it has triggered given its exposure to defense
contracting, which while less affected than most other sectors have
not been immune to the adverse impact of the pandemic and leaves
the company vulnerable to shifts in market demand and sentiment in
these unprecedented operating conditions.

The following is a summary of Moody's rating actions and ratings:

Assignments:

Issuer: PM General Purchaser LLC

Corporate Family Rating, Assigned B2

Probability of Default Rating, Assigned B2-PD

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

Outlook Actions:

Issuer: PM General Purchaser LLC

Outlook, Assigned Stable

RATINGS RATIONALE

The B2 CFR broadly reflects AM General's well-established position
as a light tactical vehicle manufacturer of the High Mobility
Multipurpose Wheeled Vehicle (HUMVEE), with revenue scale, a
liquidity profile and key credit metrics that suit the rating. AM
General is sole-source provider of the HUMVEE, owns the technical
data rights and manufactures both the engine and transmission. The
HUMVEE possesses an installed base of 250,000 vehicles globally but
modernization spending will likely result in next generation
tactical vehicles coming to market that could erode AM General's
market share over time. The rating recognizes that AM General's
appetite for M&A and growth R&D will probably be elevated in the
coming year, and the debt structure will facilitate potentially
sizeable dividend issuance, as well.

The HUMVEE's large installed base globally affords the company the
opportunity of meaningful upgrade and parts orders, while the US
Army indicates that the HUMVEE will continue to play a large role
within the light tactical vehicle fleet through 2045,
notwithstanding the recent introduction of a modernized light
tactical vehicle ("JLTV"). In 2017, AM General entered into a new
contract with the US Army that formalized terms for HUMVEE orders
and thereby significantly improved the company's profitability
measures and operating performance. The arrangement, which
specifies no annual minimum order requirement, nonetheless varies
with unit prices tied to production rates, and it permits AM
General to better maintain operating margins when volumes ebb,
something that historically had been a major headwind.

Along with the US Army clarifying its plan to comprise a little
over one-half of its light tactical vehicle fleet as HUMVEEs though
2045, the Army made the HUMVEE a program of record within the US
Department of Defense's budget. These changes have enabled AM
General to achieve steadier profitability. Further, under its US
Army contract, AM General has been successfully marketing the
HUMVEE through the foreign military sales channel of the US State
Department. Even so, none of these developments eliminate the risk
that domestic or foreign government orders could substantially
change from year to year, and AM General typically operates with
backlog to revenue of only about 50%.

Moody's estimates initial leverage (Moody's-adjusted
debt-to-EBITDA) pro forma for the LBO of approximately mid-4x, with
free cash flow-to-debt of around 10%. Moody's expects that annual
revenue of about $800 million in 2020 and future US and orders for
HUMVEEs and parts should sustain revenues minimally at this level
over the next two to three years. Without readily prepayable debt,
though, AM General will likely put free cash flow towards bolt-on
acquisitions. But the anticipated borrowing terms will likely also
enable most fo the company's free cash flow to be distributed to
the company's financial sponsor owners in the form of dividends.

Based on the US military's tactical vehicle fleet objectives,
Moody's expects that the main contract through which AM General
sells HUMVEEs to the US and foreign militaries will be effectively
extended or only slightly revised when it expires in 2023.

AM General possesses an adequate liquidity profile supported by the
likelihood of free cash flow of $50 million or higher near-term and
no scheduled debt amortization. The company plans to arrange a $75
million super priority revolving credit facility that will be
undrawn at close. Initially, the company will likely be dependent
on the revolver as it plans to initially hold very low cash
balances. The liquidity profile would probably improve if cash is
maintained above $30 million with little revolver usage following.

The B2 rating for the $600 million of senior secured notes is
equivalent to the company's CFR, reflecting that the preponderance
of debt in its consolidated capital structure is secured, and with
a super priority revolver ranking ahead of it and unsecured
non-debt claims (i.e.; pension underfunding, trade payables,
leasehold obligations) ranking behind it with respect to the
underlying collateral in a distress scenario. The notes will be
guaranteed by all material domestic subsidiaries.

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

Upward ratings momentum would depend on higher backlog, an
expectation that leverage would be maintained in the 3x range with
free cash flow-to-debt of 15%, and also that a good liquidity
profile would be maintained at all times. Downward ratings momentum
would follow revenues falling materially below $800 million,
leverage above 5x and/or annual free cash flow of less than $30
million.

The principal methodology used in these ratings was Aerospace and
Defense Methodology published in July 2020.

AM General, LLC, headquartered in South Bend, Indiana, designs,
engineers, manufactures, supplies and supports specialized vehicles
for commercial and military customers. Revenues are estimated to be
about $800 million for the full year of 2020. The company will be
owned by entities of financial sponsor KPS Capital Partners LP.


PROUSYS INC: Unsecureds Will be Paid 16.5% to 26.9% of Claims
-------------------------------------------------------------
ProUsys, Inc. submitted a Plan and a Disclosure Statement.

The Debtor's major assets are cash of $485,561, receivables of
$166,173, work in progress worth $134,583 and fixed assets having a
value of $104,435.

Class 4 General unsecured undisputed creditors are impaired.  The
Debtor will make total payments of $240,000 toward general
unsecured claims.  Class 4 will receive monthly payments of $5,000
each shall commence on June 1, 2021, and continue on the first day
of each subsequent month for 48 months.  The actual amount paid to
each general unsecured claimant is estimated to be between 16.5% to
26.9%.  The actual percentage paid to each claimant will be
determined once the disputed claims have been resolved.  If the
disputed claims are allowed in full, then claimants will receive
approximately 16.5% of their claim.

Class 4 general unsecured creditors with claims of $3,000 or less
will be paid their full respective prorated share on July 1, 2020,
as a convenience.  Once all disputed claims have been resolved, a
further distribution to the convenience class may be required to
provide the same percentage as other Class 4 creditors.

The funds to make all Plan payments will be generated from income
from the Debtor's business operations and from cash on hand.

A full-text copy of the Disclosure Statement dated August 3, 2020,
is available at https://tinyurl.com/y5fasmvy from PacerMonitor.com
at no charge.

Attorneys for the Debtor:

     Reed H. Olmstead
     LAW OFFICES OF REED H. OLMSTEAD
     5266 Hollister Avenue, Suite 224
     Santa Barbara, CA 93111
     Telephone: (805) 963-9111
     Facsimile: (805) 963-2209
     E-mail: reed@olmstead.law

                       About ProUsys Inc.

ProUsys, Inc. -- http://www.prousys.com/-- is a service provider
of automation, electrical instrumentation, control systems,
fabrication, SCADA, wireless and network solutions adding
value-added services in maintenance and construction.

ProUsys, Inc. filed a voluntary petition under Chapter 11 of the
Bankruptcy Code (Bankr. C.D. Cal. Case No. 19-10981) on May 31,
2019. In the petition signed by Kevin Mueller, president, the
Debtor disclosed $338,784 in assets and $1,505,242 in liabilities.
Judge Martin Barash oversees the case.  The Debtor tapped the Law
Offices of Reed H. Olmstead as its legal counsel, and LeBeau
Thelen, LLP, as its special counsel.


QUICKEN LOANS: S&P Rates Senior Unsecured Notes 'BB'
----------------------------------------------------
S&P Global Ratings said it assigned its 'BB' issue rating to
Quicken Loans LLC's (BB/Stable/--) proposed senior unsecured notes
due 2029 and 2031. The company will use $1.25 billion of the
proceeds to refinance its existing 2025 bonds and will use the
remainder for general corporate purposes, including funding its
record originations for the rest of the year and to pay associated
fees and expenses relating to the transaction. Leverage as of the
end of the second quarter was under 1.0x. However, a decrease in
EBITDA during 2021 or 2022 could pressure leverage in the longer
term. Given the large amount of nonfunding debt outstanding
following this transaction, EBITDA declines in 2021 or 2022 due to
declines in refinancing volume could push leverage above 3.0x.

During the second quarter, the company reported record EBITDA and
originations driven by a favorable mortgage refinance origination
environment and the company's ability to leverage its online
origination platform. S&P expects the company to continue to have
record origination volume for the remainder of 2020 as consumers
refinance their mortgages and take advantage of the low interest
rate environment. S&P expects eventual normalization in
originations at some point when refinance volumes decrease, though
the timing of this is difficult to predict. Volume will also likely
decline when Fannie Mae and Freddie Mac implement a 50-basis-point
"market condition credit fee" on refinance activity, which is now
slated to go into effect Dec. 1. S&P's rating on Quicken continues
to factor in volatility in earnings inherent in mortgage
originations and particularly innate to refinance activity.


QUOTIENT LIMITED: Expects to Receive $80.5M from Stock Offering
---------------------------------------------------------------
Quotient Limited entered into an underwriting agreement with
Goldman Sachs & Co. LLC and Cowen and Company, LLC, as
representatives of the several underwriters in connection with the
public offering, issuance and sale by the Company of 17,647,059 of
its ordinary shares of no par value per share, at the public
offering price of $4.25 per share, less underwriting discounts and
commissions, pursuant to an effective registration statement on
Form S-3, as amended by Amendment No. 1, and a related prospectus
supplement filed with the Securities and Exchange Commission.
Under the terms of the Underwriting Agreement, the Company granted
the Underwriters an option, exercisable for 30 days from the date
of the Prospectus Supplement, to purchase up to 2,647,058
additional ordinary shares from the Company at the public offering
price, less underwriting discounts and commissions.  On Sept. 11,
2020, the Underwriters exercised the Additional Share Option in
full.

The Company expects to receive net proceeds from the offering of
approximately $80.5 million, after deducting underwriting discounts
and commissions and estimated offering expenses payable by it.

The offering is expected to close on Sept. 15, 2020, subject to
customary closing conditions.  The Underwriting Agreement contains
customary representations, warranties and agreements by the
Company, conditions to closing, indemnification obligations of the
Company and the Underwriters, including for liabilities under the
Securities Act of 1933, as amended, and termination provisions.

                       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 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.

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.


RAYSHAWN L. ROBINSON: $525K Sale of Glenn Dale Property Approved
----------------------------------------------------------------
Judge Lori S. Simpson of the U.S. Bankruptcy Court for the District
of Maryland authorized Rayshawn Latrease Robinson's sale of the
real property located at 5806 Gabriel Duvall Court, Glenn Dale,
Maryland to Arthur Taylor for $525,000.

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

The closing on the Contract will occur no later than and including
Sept. 30, 2020, and if such closing does not timely occur, on Oct.
1, 2020 or thereafter, the Lender is authorized to enroll a deed in
lieu of foreclosure on the Property without further action or Court
approval.

In the event of a prior closing on the Contract to the entry of the
Order, the Order and its requirements will relate back to the
Contract and the Motion to Sell nunc pro tunc to replace the
original Order entered on July 6, 2020.

The Debtor's Broker Homewise Realty Services, LLC will deliver to
The Burns Law Firm, LLC with a copy to the Lender's counsel a
proposed final closing disclosure (HUD-1) no later than two
business days prior to any proposed closing, which will reflect the
disbursements identified in the immediately following paragraph to
be made by the settlement agent.

After payment of allowed Broker commission; identified further
reasonable closing costs from the CD referenced; the lien of record
of Wilmington Trust, NA payable in the amount of $501,315 as
relayed in the Motion and the exhibit HUD-1 annexed to the Motion
by the settlement agent, the remaining proceeds of sale will be
paid by check to the Debtor's counsel for distribution pursuant to
further Court Order accompanied by a report of sale within two
business days of the closing.

Following closing by consent of the parties wherein the Lender is
paid as referenced, or following a failure of timely closing where
a deed in lieu of foreclosure is enrolled by the Lender and the
Debtor has vacated and surrendered the Property to teh Lender, it
is required that the Lender will strike and withdraw its Claim Dkt.
11 with prejudice waiving thereby any deficiency claim what it has
been paid above in full and final satisfaction of its loan
documents and Claim.

Notwithstanding the internal loan loss provision taken by the
Lender for the purpose of its accounting and books/records therein
respective to any deficiency claim otherwise existing to the
benefit of the Lender, for good faith and to avoid a sub rosa
discharge the Debtor will not receive a discharge of any deficiency
claim arising from the short sale of the Property in the Chapter 11
case until full administration of a Chapter 11 plan which treats
other obligations (ie; Allowed Administrative Expense Claims;
Priority Claims; other Allowed Unsecured Claims), and any capital
gains/losses arising for year 2020 as required by applicable law
under a confirmed Chapter 11 Plan by the Debtor.

Any cancellation of debt claims arising from the sale of the
Property may only be excluded from recognition by discharge of the
Debtor in the case, and/or recognition of insolvency by the
Internal Revenue Service by timely filing of Form 982 which is the
Debtor's responsibility to file and pursue.

Promptly following closing by consent of the parties wherein the
Lender is paid as referenced, or following a failure of timely
closing where a deed in lieu of foreclosure is enrolled by the
Lender and Debtor has vacated and surrendered the Property to the
Lender, it is required that the Lender will strike and withdraw its
Motion for Relief From Stay and Reply docketed in the case with
prejudice and the Debtor will strike and withdraw its Answer
containing counterclaims against the Lender and Motion to Strike
Reply with prejudice.

No other disbursements will be made at closing other than those
identified by the settlement agent before all net funds are
delivered to the Debtor's counsel within two business days
following the sale closing.

The settlement agent having failed to provide in seven days
following June 23, 2020 as required by the Motion any clouds or
impediments to closing on the Contract such as open liens or
encumbrances of record which required action or payment as a
precondition to closing, the settlement agent is directed to
proceed to closing expediently as required by the Debtor and the
Lender.

The stay provided for by Fed. R. Bankr. P. 6004(h) is waived.

The Debtor will by the counsel upload a Report of Sale attaching
the HUD-1 (closing disclosure) within 10 days from the date of the
sale closing.

If the Debtor's counsel does not receive the required proceeds and
settlement sheet or closing disclosure (ie; HUD-1) within 90 days
of the date of entry of the Order, the authority to sell granted by
the Order will automatically terminate.

Notwithstanding anything to the contrary, should the Lender in its
own unfettered and unilateral discretion choose to permit any
extension of time on closing on the Contract or alteration of a
term of the Contract, it may do so with the Debtor without seeking
further relief of the Court, but the Lender will have no obligation
to alter any term of the Contract or any closing date identified.

Rayshawn Latrease Robinson sought Chapter 11 protection (Bankr. D.
Md. Case No. 19-24523) on Oct. 30, 2019.  The Debtor tapped John
Douglas Burns, Esq., at The Burns Law Firm, LLC, as counsel.


REMARK HOLDINGS: Weinberg Replaces Cherry Bekaert as Accountant
---------------------------------------------------------------
Remark Holdings, Inc., dismissed Cherry Bekaert LLP as its
independent registered public accounting firm on Aug. 31, 2020,
which dismissal was approved by the the Audit Committee of the
Company's Board of Directors.

The Former Auditor's report on the Company's financial statements
for each of the preceding two years neither contained an adverse
opinion or a disclaimer of opinion, nor were the reports qualified
or modified as to uncertainty, audit scope, or accounting
principles, except that such reports were qualified as to an
uncertainty regarding the Company's ability to continue as a going
concern.

During the Company's two most recent fiscal years and the
subsequent interim periods preceding the Company's dismissal of the
Former Auditor, (i) the Company did not have any disagreements
within the meaning of Item 304(a)(1)(iv) of Regulation S-K and the
related instructions to Item 304 of Regulation S-K with the Former
Auditor on any matter of accounting principles or practices,
financial statement disclosure, or auditing scope or procedures,
which disagreements, if not resolved to the satisfaction of the
Former Auditor, would have caused the Former Auditor to make
reference to the subject matter of the disagreement in connection
with its reports on its financial statements for such years, and
(ii) there were no "reportable events" within the meaning of Item
304(a)(1)(v) of Regulation S-K, except that the Former Auditor's
report on the effectiveness of its internal control over financial
reporting as of Dec. 31, 2018 expressed their opinion that the
Company did not maintain effective internal control over financial
reporting as of Dec. 31, 2018 due to the effect of a material
weakness related to the design and operating effectiveness of its
controls over the review and approval over the preparation of
manual journal entries, which impacted various areas including but
not limited to revenue recognition, accounts payable and accrued
expenses, relative to its internal control over financial
reporting, a material weakness related to the design and operating
effectiveness of our internal controls over revenue recognition in
China, and deficiencies related to the adequacy of the Company's
monitoring and activity level controls specific to various business
processes in China, including accounts payable, accrued
liabilities, payroll, and fixed assets, which aggregated to a
material weakness.

Also on Aug. 31, 2020, the Company engaged Weinberg & Company as
its independent registered public accounting firm for the fiscal
year ending Dec. 31, 2020.  During the Company's two most recent
fiscal years and the subsequent interim periods preceding the
engagement, neither the Company nor anyone acting on its behalf
consulted Weinberg regarding (i) the application of accounting
principles to a specified transaction, either completed or
proposed, or the type of audit opinion that might be rendered on
our consolidated financial statements, and neither a written report
nor oral advice was provided to the Company that Weinberg concluded
was an important factor considered by us in reaching a decision as
to any accounting, auditing, or financial reporting issue, (ii) any
matter that was subject to a disagreement within the meaning of
Item 304(a)(1)(iv) of Regulation S-K, or (iii) any "reportable
event" within the meaning of Item 304(a)(1)(v) of Regulation S-K.

                         About Remark Holdings

Remark Holdings, Inc. (NASDAQ: MARK) --
http://www.remarkholdings.com/-- delivers an integrated suite of
AI solutions that enable businesses and organizations to solve
problems, reduce risk and deliver positive outcomes.  The company's
easy-to-install AI products are being rolled out in a wide range of
applications within the retail, financial, public safety and
workplace arenas.  The company also owns and operates digital media
properties that deliver relevant, dynamic content and ecommerce
solutions.  The company is headquartered in Las Vegas, Nevada, with
additional operations in Los Angeles, California and in Beijing,
Shanghai, Chengdu and Hangzhou, China.

As of June 30, 2020, the Company had $23.08 million in total
assets, $30.52 million in total liabilities, and a total
stockholders' deficit of $7.44 million.

Cherry Bekaert LLP, in Atlanta, Georgia, the Company's auditor
since 2011, issued a "going concern" qualification in its report
dated May 29, 2020, citing that the Company has suffered recurring
losses from operations and negative cash flows from operating
activities and has a negative working capital and a stockholders'
deficit that raise substantial doubt about its ability to continue
as a going concern.


REMINGTON OUTDOOR: Appointment of Retirees Committee Sought
-----------------------------------------------------------
The United Mine Workers of America asked the U.S. Bankruptcy Court
for the Northern District of Alabama to authorize the appointment
of a committee that will represent retired workers of Remington
Outdoor Company, Inc. in the company's Chapter 11 case.

In court papers, UMWA's attorney R. Scott Williams, Esq., at
Rumberger, Kirk & Caldwell, PC, said the retired workers need
representation in light of Remington's decision to sell the
majority of its assets.

"These assets provide income to pay retiree healthcare benefits.
The proposed stalking horse bidder has chosen not to assume the
retiree health obligations that are due retirees," Mr. Williams
said.

The labor union, which has approximately 975 retirees or their
beneficiaries, cannot represent the retirees because of a potential
conflict of interest with the company's existing employees.

UMWA had earlier asked the bankruptcy court to issue an order
directing the appointment of the labor union to the official
committee of unsecured creditors in Remington's bankruptcy case.

Mr. Williams can be reached at:

     R. Scott Williams, Esq.
     Frederick D. Clarke, III, Esq.
     Rumberger, Kirk & Caldwell, PC
     2001 Park Place North, Suite 1300
     Birmingham, Alabama 35203
     Telephone: 205.327.5550
     Facsimile: 205.326.6786
     Email: swilliams@rumberger.com
     fclarke@rumberger.com

                  About Remington Outdoor Company

Remington Outdoor Company, Inc. and its affiliates are
manufacturers of firearms, ammunition and related products for
commercial, military, and law enforcement customers throughout the
world.  They operate seven manufacturing facilities located across
the United States.  The companies' principal headquarters are
located in Huntsville, Alabama.

Remington Outdoor Company and its affiliates sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ala. Lead Case
No. 20-81688) on July 27, 2020.  At the time of the filing,
Remington disclosed assets of between $100 million and $500 million
and liabilities of the same range.

Judge Clifton R. Jessup Jr. oversees the cases.

Debtors have tapped O'Melveny & Myers LLP as their bankruptcy
counsel, Burr & Forman LLP as local counsel, M-III Advisory
Partners LP as financial advisor, Ducera Partners LLC as investment
banker, and Prime Clerk LLC as notice, claims and balloting agent.

The U.S. Bankruptcy Administrator for the Northern District of
Alabama appointed a committee of unsecured creditors on Aug. 6,
2020.  The committee is represented by Fox Rothschild, LLP and
Baker Donelson Bearman Caldwell & Berkowitz, PC.


RITORI LLC: Monster Buying Chesapeake Beach Property for $3.1M
--------------------------------------------------------------
Ritori, LLC, and Marsalret, LLC, ask the U.S. Bankruptcy Court for
the District of Maryland to authorize the sale of the improved
commercial real property located at 8323 Bayside Road, Chesapeake
Beach, Maryland, along with personalty used in connection with the
real property, to Monster Investments, Inc. or its assigns for $3.1
million, subject to higher or better offers.

Ritori owns and leases to Marsalret the Real Property.   In
particular, the Real Property consists of five parcels, identified
by TINs 03-043258; 03-043304; 03-043274; 03-043185; and 03-168409,
and more particularly identified among the Land Records of Calvert
County, at Liber 4455, Folio 0212, and Liber 5268, Folio 0189.

Marsalret operates a Mama Lucia’s Italian Restaurant from the
Real Property.  It is the owner of certain personal property used
in connection with the Restaurant, including certain furniture,
fixture and equipment.  The Personalty to be conveyed expressly
excludes the "Mama Lucia's" trade name, cash maintained by the
Debtors, accounts receivable due to the Debtors as of the closing
of the transaction, and inventory, including food, liquor, beer and
wine.   The Personalty also excludes any equipment or other
personal property encumbered by lien holders (other than Community
Bank of the Chesapeake), unless such lien holders consent to the
sale of its/their collateral.

The Real Property is encumbered by the following secured claims:

     i. Calvert County Real Property Taxes: $57,842 (estimated);

     ii. Community Bank of the Chesapeake: $3,187,076 (estimated);
and

     iii. Eugenia Magafin: $416,675 (estimated).

BB&T Commercial Equipment Capital Corp. asserts a secured claim in
the amount of $263,508, secured by certain kitchen equipment more
particularly described in BB&T's proof of claim, filed in Case No.
19-24474.  Vend Lease Co., Inc. asserts a secured claim in the
amount of $12,766., secured by certain audio-visual equipment,
camera and security system, and point of sale system more
particularly described in Vend Lease’s proof of claim, filed in
Case No. 19-24473.  In addition to its lien on the Real Property,
Community Bank asserts a blanket lien on Personalty not encumbered
by the senior purchase money liens in favor of Vend Lease or BB&T.


During the Bankruptcy Case, the Debtors retained Murphy Commercial
Real Estate Services, Inc. to market the Assets, including the Real
Property.  Murphy Commercial engaged in an aggressive marketing
campaign, resulting in several expressions of interest, and
ultimately an Agreement of Sale.  Notwithstanding, as contemplated
by the Bankruptcy Code, Murphy Commercial, on behalf of the
Debtors, will continue to market the Assets to higher or better
offers through an including the date of the hearing on the Motion.


On Aug. 7, 2020, the Debtors entered into an Agreement of Sale with
the Purchaser, to sell the Assets for $3.1 million.  The Agreement
of Sale provides for a 60-day Feasibility Period commencing on Aug.
17, 2020.  The Purchaser will deposit the sum of $50,000 with the
Escrow Agent.  The sale will be free and clear of all liens,
claims, encumbrances, and interests.

The Sale Proceeds will be used to pay secured creditors in order of
the priority of liens as such liens existed as of the Petition Date
and, to the extent funds remain, to pay creditors pursuant to the
priority scheme set forth in the Bankruptcy Code.  Though the sale
of the Assets will result in insufficient funds to pay liens in
full, the Debtors anticipate being able to satisfy Section 363(f)
of the Bankruptcy Code.  

A copy of the Agreement is available at
https://tinyurl.com/y5f4xphe from PacerMonitor.com free of charge.

                        About Ritori LLC

Ritori LLC is a Single Asset Real Estate debtor (as defined in 11
U.S.C. Section 101(51B)). Ritori sought protection under Chapter 11
of the Bankruptcy Code (Bankr. D. Md. Case No. 19-24473) on Oct.
29, 2019.  The petition was signed by Maria Lubrano, authorized
representative.  At the time of the filing, the Debtor disclosed
assets ranging between $1 million to $10 million and liabilities of
the same range. The Hon. Lori S. Simpson is the case judge.  The
Debtor is represented by Steven L. Goldberg, Esq. at MCNAMEE,
HOSEA, JERNIGAN, KIM, GREENAN & LYNCH, P.A.


ROBERT D. SPARKS: Wares Buying State Line Place for $108K
---------------------------------------------------------
Robert Dial Sparks asks the U.S. Bankruptcy Court for the Northern
District of Texas to authorize the sale of his tract of farm land
more particularly described as the Northwest Quarter of Section 25,
Block "B," Capitol Syndicate Subdivision, Panner County, Texas
("State Line Place") to Justin and Mikayla Ware for $107,800, less
the cost of an owners' policy of title insurance and the customary
and usual closing costs.

Mr. Sparks is a resident of Lubbock, Lubbock County, Texas. He owns
several tracts of farm land located in Parmer County, Texas.  Some
of that farm land is leased out on a crop rent basis.  Some of the
farm land is (or has been) in the USDA's Conservation Reserve
Program.  

One of the tracts of farm land owned by Mr. Sparks is the State
Line Place.  In his Schedules, Mr. Sparks valued the State Line
Place as being worth $128,000.  When the case was filed, Capital
Farm Credit held a valid and perfected Deed of Trust Lien on the
State Line Place; however, Capital Farm Credit also held a lien on
the "Rundell Place" securing its claim in the amount of $210,325
(Claim #2).  However, pursuant to Motion filed and Order entered,
the "Rundell Place" was sold for more than enough to pay the claim
of Capital Farm Credit in full.  Accordingly, it is believed that
the State Line Place is now free and clear of liens.

Mr. Sparks proposes to sell the State Line Place to the Buyers for
the sum of $107,800, less the cost of an owners' policy of title
insurance and the customary and usual closing costs, under the
terms of their Farm and Ranch Purchase Contract.  The sale is not
contingent on the ability of Mr. and Mrs. Ware to obtain financing.
And though the contract calls for the sale to be closed in the
offices of Farwell Abstract Co. in Farwell, Texas by Sept. 14,
2020, on information and belief, Mr. Sparks contends that the
closing date can be extended for a reasonable time subject to the
Court issuing an Order granting the Motion to Sell and approving
the sale.

A hearing on the Motion is set for Sept. 23, 2020 at 1:30 p.m.
Objections, if any, must be filed at least five days in advance of
such hearing date.

A copy of the Contract is available at https://tinyurl.com/y6bmr725
from PacerMonitor.com free of charge.

Robert Dial Sparks sought Chapter 11 protection (Bankr. N.D. Tex.
Case No. 20-50079) on May 1, 2020.  The Debtor tapped Byrn R. Bass,
Jr., Esq., as counsel.



ROBERT F. TAMBONE: $185K Sale of 2017 Grady White Boat Approved
---------------------------------------------------------------
Judge Janet E. Bostwick of the U.S. Bankruptcy Court for the
District of Massachusetts authorized Robert F. Tambone's private
sale of his 2017 30' 6" Canyon 306 Grady White boat located in
Jupiter, Florida to Mike and Hollis Davis or their nominees for
$185,000, provided that the broker's fees will not be disbursed
until further order by the Court.  

The Boat will to be delivered to the Purchaser in "as is" "where
is" "how is" condition except as expressly set forth in the Sale
Agreement.  

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

The Debtor is authorized to pay all necessary costs and expenses
arising in connection with the Private Sale, including payment of
all ordinary closing costs and expenses and the undisputed lien of
Salem Bank.

The 5% commission of South Florida Yachts will be held in reserve
until the Court has made a determination with respect to the
Application to Employ and entered an order with regard to the
payment of the Commission.   

The Limited Objection, to the extent not addressed by the Order, is
otherwise overruled.

The Order will be enforceable immediately upon entry, will not be
subject to any stay of enforcement, including any stay provided by
Bankruptcy Rule 6004.  The provisions of the Order will be
self-executing.

Robert F. Tambone sought Chapter 11 protection (Bankr. D. Mass.
Case No. 20-11378) on June 22, 2020.  The Debtor tapped Kathleen
Cruickshank, Esq., as counsel.


ROCK CREEK: Unsecureds Will be Paid From Available Plan Cash
------------------------------------------------------------
Ministry Partners Investment Company, LLC, proposed a Plan of
Reorganization and a Disclosure Statement for Rock Creek Baptist
Church of the District of Columbia.

The Debtor's principal assets include the Woodyard Road Property
and the Ritchie Marlboro Property.  The Woodyard Road Property
consists of approximately 24 acres of land, improved by a church,
school, gym and administrative buildings.  The Debtor estimates the
"as is" value of the Woodyard Road Property to be approximately
$6,200,000.  Ministry Partners does not believe that the Debtor's
estimated "as is" value of the Woodyard Road Property is accurate.
In February 2020, Ministry Partners commissioned an appraisal of
the Woodyard Road Property, which valued the Woodyard Road Property
at $5,300,000 as of the Petition Date.  The Debtor's "as is" value
for the Ritchie Marlboro Property is estimated to be $3,000,000.

Class 5 Secured Claim of TCF Equipment Finance is impaired.  TCF,
as the Holder of the Allowed Class 5 Secured Claim, including
amounts under Section 506(b) of the Bankruptcy Code, will by paid
by the Reorganized Debtor (i) on the 15th day of each month until
and including Dec. 15, 2020, modified regular monthly payments of
$868 per month; (ii) on or before Jan. 15, 2021, a payment of
$819.20 representing the Reorganized Debtor’s January 2021
installment and the remainder of the Debtor's prepetition arrearage
to TCF; (iii) on or before February 15, 2021 and continuing on the
15th day of each month thereafter until and including Feb. 15,
2023, the Reorganized Debtor shall pay regular monthly payments of
$768, continuing until its monetary obligations to TCF are paid in
full, including principal, interest, fees and costs.

Class 6 Secured Claim of Leaf Capital Funding, LLC, is impaired.
The Debtor asserts that the value of Leaf Capital's Secured Claim
is $25,000.  The Allowed Class 6 Secured Claim shall accrue
interest at a rate of 5% thereon after the Effective Date.  Leaf
Capital, as the Holder of the Allowed Class 5 Secured Claim,
including amounts under Section 506(b) of the Bankruptcy Code, will
by paid by the Reorganized Debtor beginning on the Effective Date
and continuing on the first day of each quarter thereafter, the sum
of no less than $1,400 per quarter; and the Allowed Secured Claim
of Leaf Capital will be paid in full with accrued interest on the
date that is 48 months from Effective Date.

Class 7 Secured Claim of BB&T Commercial Equipment Capital is
impaired.  The Debtor asserts that the value of BB&T's Secured
Claim is $10,000.  The Allowed Class 7 Secured Claim shall accrue
interest at a rate of 5% thereon after the Effective Date.  BB&T,
as the Holder of the Allowed Class 7 Secured Claim, including
amounts under Section 506(b) of the Bankruptcy Code, shall by paid
by the Reorganized Debtor beginning on the Effective Date and
continuing on the first day of each quarter thereafter, the sum of
no less than $550.00 per quarter; and the Allowed Secured Claim of
BB&T will be paid in full with accrued interest on the date that is
48 months from Effective Date.

Class 8 General Unsecured Claims are impaired.  After payment of
the Holders of Secured Claims in Classes 1 through 7 with the Sale
Proceeds, the Holders of Allowed Class 8 Claims, including any
deficiency claims asserted by the Holders of Claims in Classes 2
through 7, shall be paid on a Pro Rata basis from the Available
Plan Cash.

The Plan shall be funded by Available Plan Cash and the Exit
Financing.

A full-text copy of the Disclosure Statement dated August 3, 2020,
is available at https://tinyurl.com/y6mb46r4 from PacerMonitor.com
at no charge.

Counsel for Ministry Partners Investment Company:

     Adam Lawton Alpert
     Bush Ross, P.A.
     1801 N. Highland Avenue
     Tampa, FL 33602
     Phone: (813) 224-9255
     Fax: (813) 223-9620
     E-mail: aalpert@bushross.com

        - and -

     Joel L. Perrell Jr.
     Miles & Stockbridge P.C.
     100 Light Street
     Baltimore, MD 21202
     Phone: (410) 385-3762
     Fax: (410) 385-3700
     E-mail: jperrell@milesstockbridge.com

                 About Rock Creek Baptist Church
                  of the District of Columbia

Rock Creek Baptist Church of the District of Columbia, based in
Upper Marlboro, MD, filed a Chapter 11 petition (Bankr. D. Md. Case
No. 19-16565) on May 14, 2019.  In the petition signed by Jeffrey
L. Mitchell, Sr., pastor, the Debtor was estimated to have up to
$50,000 in assets and $1 million to $10 million in liabilities.
The Hon. Lori S. Simpson oversees the case. The Debtor hires The
Weiss Law Group, LLC, and McNamee Hosea Jernigan Kim Greenan &
Lynch, P.A., as bankruptcy counsel.


SD HOLDINGS: Mod Pizza Buys 13 Franchised NC Locations
------------------------------------------------------
Nation's Restaurant News reports that Bellevue, Wash.-based
fast-casual pizza chain MOD Pizza announced that they have acquired
13 franchised MOD Pizza locations in North Carolina.  MOD has now
assumed control of the 13 locations in Charlotte, Wake Forest,
Raleigh, Fayetteville and Asheville from bankrupt SD Holdings.

"This investment not only protects jobs across North Carolina but
is an incredibly exciting opportunity for us to expand our
company-owned portfolio and reinforce our commitment to a
well-performing market with plenty of growth potential," said Scott
Svenson, co-founder and CEO of MOD Pizza in a statement. "The squad
in North Carolina has done a great job introducing their local
communities to the unique MOD experience and our people-first
culture, and we look forward to continuing to build on this
momentum."

Although the terms of the acquisition were not disclosed, MOD said
that they are offering employment and job security to all 300
eligible employees from the now-company-owned restaurants.

When SD Holdings filed for Chapter 11 bankruptcy earlier this year,
the company also owned 73 Sonic Drive-In restaurants, three Fuzzy
Taco units, and was previously one of the largest McAllister’s
Deli franchisees, in addition to its MOD Pizza locations.  Inspire
Brands has now taken over all of the company’s Sonic locations.

After the acquisition, MOD Pizza now has 406 company-owned
locations and 82 franchised locations in 28 states.

                         About SD Holdings

Southern Deli Holdings, LLC, which conducts business under the name
SD Holdings, LLC --http://www.sdholdingsllc.com-- is a restaurant
franchisee headquartered in Matthews, N.C. Founded in 1999,
Southern Deli Holdings now owns and operates more than 100
restaurants across six states within multiple brands such as
Fuzzy's Taco Shop, McAlister's Deli, MOD Pizza, and Sonic
Drive-In.

Southern Deli Holdings and four affiliates -- RTHT Investments LLC,
SD Restaurant Group, LLC, SD-Charlotte, LLC, and SD-Missouri, LLC
-- each filed a Chapter 11 petition on Feb. 7, 2020. The cases are
jointly administered under Case No. 20-30149, with SD-Charlotte as
the lead case. Judge Laura T. Beyer is assigned to the cases.

In the petitions signed by Yaron Goldman, managing member, each of
the Debtors reported assets and liabilities, as follows:

                        Estimated Assets       Estimated Debts
                        ----------------       ---------------
Southern Deli         $1-mil. to $10-mil.  $10-mil. to $50-mil.
RTHT Investments     $10-mil. to $50-mil.  $10-mil. to $50-mil.
SD-Charlotte          $1-mil. to $10-mil.   $1-mil. to $10-mil.  
SD-Missouri          $10-mil. to $50-mil.  $10-mil. to $50-mil.
SD Restaurant Group   $1-mil. to $10-mil.   $1-mil. to $10-mil.

The Debtors tapped Moore & Van Allen PLLC as their bankruptcy
counsel, and JD Thompson Law as their special bankruptcy counsel.


SEAWALK INVESTMENTS: Files Supplement to Disclosure Statement
-------------------------------------------------------------
Seawalk Investments, LLC, filed a Second Supplement to Disclosure
Statement to provide additional information regarding its
relationship with Seabreeze Motel of Jacksonville Beach, Inc.

Prepetition Relationship between Seawalk and Seabreeze

Prior to the Chapter 11 bankruptcy filing, Seabreeze was
responsible for managing and operating the hotel owned by Seawalk
at 113-121 First Avenue North, Jacksonville Beach, Florida 32250
(the "Real Property"), including the collection of all rent payable
for both long-term rentals and short-term rentals.  As a result,
all revenue from the Real Property was paid to Seabreeze and, in
turn, Seabreeze paid to Debtor amounts necessary for the
maintenance and upkeep of the Real Property, and to make required
debt payments.

According to the official records of the State of Florida, Division
of Corporations, Seabreeze was established as a corporation in 1995
by Therese Hapsis and. Gust Hapsis. In contrast, Seawalk was
established as a limited liability company in 2001 by James R.
Stockton.

Post-Petition Relationship

At around the time of Seawalk's the Chapter 11 bankruptcy filing,
Seawalk and Seabreeze changed the relationship to allow all revenue
from long-term rentals to be paid directly to Seawalk.  However,
the short-term rentals, which are handled through AirBNB, continued
to be paid to Seabreeze because Seabreeze had the account
established with AirBNB.

Duval County Taxes

As a result of the short-term rentals through AirBNB, Seabreeze
incurred tourism/bed taxes owed to Duval County Tax Collector.
Seabreeze originally understood that AirBNB was withholding and
paying all required tax on the short-term rentals.  However, after
the Duval County Tax Collector contacted Seabreeze to inquire, it
became apparent that AirBNB paid taxes to the State of Florida but
did not pay the required taxes to the Duval County Tax Collector.
As a result, Seabreeze has reconciled the amount owed to the Duval
County Tax Collector, approximately $9,000, has established a
payment plan with the Duval County Tax Collector to cure the
delinquency, and has paid a substantial lump-sum toward the amount
due.

Attorney for the Debtor:

     Robert D. Wilcox
     WILCOX LAW FIRM
     93 Rio Drive
     Ponte Vedra Beach, FL 32082
     Telephone: (904) 405-1250
     Direct: (904) 405-1248
     E-mail: rw@wlflaw.com
     E-mail: pp@wlflaw.com

                     About Seawalk Investments

Seawalk Investments, LLC, a privately held company in Jacksonville,
Fla., sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. M.D. Fla. Case No. 19-01010) on March 21, 2019.  At the
time of the filing, the Debtor had estimated assets of between $1
million and $10 million and liabilities of between $1 million and
$10 million.  Judge Jerry A. Funk oversees the case.  The Debtor
hired Wilcox Law Firm as its bankruptcy counsel.


SHEA HOMES: Moody's Rates New $300MM Unsecured Notes Due 2029 'B1'
------------------------------------------------------------------
Moody's Investors Service assigned a B1 rating to Shea Homes
Limited Partnership's proposed $300 million notes due 2029. Shea
Homes' other ratings and stable outlook remain unchanged. The
proceeds of the new notes will be used to refinance the company's
$300 million 6.125% senior unsecured notes due 2025. The
transaction will be leverage neutral while improving the company's
debt maturity profile and lowering its interest cost.

Assignments:

Issuer: Shea Homes Limited Partnership

Senior Unsecured Notes, Assigned B1 (LGD4)

RATINGS RATIONALE

Shea Homes' B1 Corporate Family Rating (CFR) reflects the company's
concentration of sales in California, which made up over 55% of
sales for the twelve months ended June 30, 2020. The rating also
reflects the company's exposure to joint venture remargining
obligations and Moody's expectation of adjusted gross margin
maintained at approximately 17.5% over the next twelve months,
primarily due to higher management fees, which generate low gross
margins, and geographic mix of deliveries. Excluding management
fees, gross margins would be between 18-19%. Moody's credit view
also considers affordability challenges that will affect demand for
housing and result in a more competitive environment. These factors
are offset by its expectation of low leverage, with adjusted
homebuilding debt to book capitalization expected to be maintained
below 45% over the next 12-18 months.

Shea Homes' proposed and existing senior notes are unsecured and
the creditors have the same priority of claim as Shea Homes'
unsecured revolving credit facility. The B1 rating assigned to the
senior unsecured notes, at the same level with the CFR, reflects
that this class of debt represents the preponderance of debt in the
capital structure.

Moody's expects Shea Homes to maintain good liquidity over the next
12 to 18 months. In addition to $361 million of unrestricted cash
at June 30, 2020, the company had $150 million availability on its
$175 million senior unsecured revolver.

Shea Homes is a family owned private homebuilder, structured as a
partnership under the common control of Shea family members. The
company pays dividends to shareholders for taxes incurred by those
shareholders due to their ownership interest in the company,
pursuant to a Tax Distribution Agreement. The company's financial
strategy is conservative and includes gradual deleveraging through
improved earnings. The rating considers the Shea family's track
record of strong support, as proven by the family's capital
injections in 2007 and 2011.

The stable outlook reflects Moody's expectation that Shea Homes
will continue to maintain debt to book capitalization below 45%
over the next 12 to 18 months and further reduce its California
exposure.

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

An upgrade is not likely in the near term, given the company's
relatively small size. Longer term, the ratings could be upgraded
if revenues exceed $3 billion, adjusted debt leverage is sustained
below 45%, interest coverage is sustained above 4.5x, adjusted GAAP
gross margins approach 20% and liquidity remains good.

The ratings could be downgraded if adjusted debt leverage trends
back up above 55% at fiscal year-ends, interest coverage dips below
2x, California concentration increases substantially, and/or
liquidity deteriorates noticeably.

Established in 1968 and headquartered in Walnut, CA, Shea is one of
the largest private homebuilding companies in the U.S. It sells
homes for entry level, move-up, luxury, and active adult
homebuyers. For the twelve months ended June 30, 2020, total
revenues from the sales of homes, land, and homebuilding-related
activities were approximately $1.6 billion.

The principal methodology used in this rating was Homebuilding and
Property Development Industry published in January 2018.


SILICON HILLS CAMPUS: Court Stays Tuebor REIT's 2nd Amended Suit
----------------------------------------------------------------
Plaintiff Tuebor Reit Sub LLC brought a contract action captioned
TUEBOR REIT SUB LLC, Plaintiff, v. NATIN PAUL, Defendant, No.
19-CV-8540 (JPO) (S.D.N.Y.) against Defendant Natin Paul, invoking
the District Court's diversity jurisdiction. In its second amended
complaint, Tuebor alleged that Paul breached his duties under a
full recourse loan he guaranteed and posits alternative requests
for relief. Paul has yet to file an answer, and instead moved to
dismiss for insufficient service of process pursuant to Federal
Rule of Civil Procedure 12(b)(5). In the alternative, Paul moved to
dismiss or stay these proceedings pursuant to the Colorado River
abstention doctrine.

Upon analysis, District Judge J. Paul Oetken denied the motion to
dismiss but granted the motion to stay.

Plaintiff Tuebor is a Michigan limited liability company that has
its principal place of business in New York.  It is the current
owner of the loan that forms the basis of this dispute.

Defendant Natin Paul is a resident of Texas. He executed the
guaranty for the loan that forms the basis of this dispute. Under
the guaranty, Paul authorized and appointed "World Class Capital
Group, LLC, 767 Fifth Avenue, 16th Floor, New York, New York,
Attention: Legal Department" as his agent to accept and acknowledge
service of process on his behalf.  Paul is the "founder, president,
and CEO of World Class Capital Group, LLC."

In early 2018, Ladder Capital Finance LLC made a $64,000,000 real
estate mortgage loan to Silicon Hills Campus, LLC. The loan was
secured by Silicon Hills's property in Austin, Texas. Under the
Paul-executed guaranty, the occurrence of certain events triggers
Paul's full recourse liability. These events include, inter alia,
Silicon Hills "filing a voluntary petition. . . under the United
States Bankruptcy Code,"  as well as Silicon Hills failing to
"obtain . . . prior written consent to any [t]ransfer." The loan
was subsequently assigned to Plaintiff Tuebor.

In May 2019, Tuebor entered into an amendment to the loan with
Silicon Hills, providing in relevant part that Paul "guarantees
payment of the [l]oan on a recourse basis at maturity in an amount
equal to $3,000,000, together with any accrued and unpaid
interest." Thus, in the event of maturity, Paul would pay Tuebor
$3,000,000 unless an event provided in the guaranty transpired, in
which case Paul would be on the hook to Tuebor for the full
$64,000,000 along with any additional obligations under the
guaranty.  In July 2019, Paul reaffirmed the guaranty in a second
amendment to the loan and the maturity date was set for August 30,
2019.

Tuebor alleged that Paul never made the payment of $3,000,000, plus
accrued and unpaid interest, which was due once the loan reached
maturity per the first and second amendments. Following this
breach, on August 30, 2019, Tuebor brought suit against Silicon
Hills in Texas state court.

In its Texas state court proceeding against Silicon Hills, Tuebor
sought the appointment of a receiver to take possession of Silicon
Hills's Austin, Texas property as a result of Paul's failure to
comply with the terms of the loan. Further, Tuebor sought
non-judicial foreclosure of Silicon Hills's property. The Texas
state court appointed a receiver and authorized a Jan. 7, 2020
foreclosure sale.  Tuebor's plan was to recoup the principal amount
from Silicon Hills's assets following the foreclosure sale, and
then "[a]ll that [would have] be[en] left to resolve. . . is the
guaranty obligations owed to [it] by Defendant [Paul]" in the
action now before the District Court.

On Jan. 7, 2020, the date the foreclosure sale was supposed to take
place, Silicon Hills filed for Chapter 11 Bankruptcy. Because this
was one of the listed conditions that triggered Paul's full
recourse per the Guaranty, Tuebor alleged that Paul owes the
principal amount of $64,000,000. Alternatively, Tuebor alleged
Paul's full recourse because a mechanic's lien was filed against
Silicon Hills's Austin, Texas property, which falls under the loan
agreement's definition of transfer, and Silicon Hills failed to
obtain prior written consent, which was required before any
transfer can take place.

Tuebor sought to recover from Paul either (a) the principal amount
of $61,500,000, an exit fee in the amount of $615,000, and all
other fees, costs, and interest as detailed in the loan and
guaranty; or (b) the principal amount of $3,000,000, along with any
accrued interest, and any other judgment against Paul for damages
incurred as a result of the mechanic's lien.

Paul moved to dismiss for insufficient service of process pursuant
to Federal Rule of Civil Procedure 12(b)(5) or, in the alternative,
to stay or dismiss the instant action pursuant to the Colorado
River abstention doctrine.

Paul's first argument is that Tuebor failed to serve him pursuant
to New York Civil Practice Law and Rules section 308(2) because it
failed to serve him at his "actual place of business, dwelling
place or usual place of abode," and failed to file an affidavit as
"proof of such service" twenty days after serving him, as required
by section 308(2).4 N.Y. C.P.L.R Sec. 308(2). Tuebor responded that
it properly served World Class, Paul's designated agent under the
guaranty.

According to Judge Oetken, Paul's section 308(2) argument is in
vain. Though he is correct in pointing out that in the proof of
service filed (late) by Tuebor, the process server seemingly
suggests that he served process pursuant to section 308(2), while
Tuebor has stated that it served process pursuant to Rule
4(e)(2)(C).  And, when a process server's statement on the method
of service is incorrect, "[p]laintiffs should be [allowed] to
correct [the] reference to the wrong [method]. . . provided they
can prove that service satisfied the requirements of the method on
which they rel[ied. Here, Tuebor has adequately proven that it
properly served Paul's designated agent pursuant to Rule
4(e)(2)(C).

Paul's second argument is that Tuebor failed to serve him pursuant
to Rule 4(e)(2)(C) because it failed to serve his agent as
designated in the guaranty by not serving World Class's Legal
Department. Tuebor countered that "an 'attention' line does not
serve to convert the agent designated for process from the entity
itself to a specific department within the entity."

Rule 4(e)(2)(C) allows service of process on an individual by
"delivering a copy. . . to an agent authorized by appointment or by
law to receive service of process." Importantly, Rule 4(e)(2)(C)
"require[es] a clear and specific appointment of the person served
as one authorized to accept service of process." Per the guaranty,
Paul authorized and appointed World Class as his agent to accept
and acknowledge service of process on his behalf. Tuebor properly
served World Class as Paul's agent -- an attention line is not
sufficient to thwart that service and does not transform Paul's
agent from World Class to a particular department within World
Class. Paul cited no authority to the contrary. Further, Paul's
already meritless argument is diminished by the fact that the
service of process was promptly sent to him, such that he received
timely notice of Tuebor's suit. Accordingly, the District Court
denied Defendant Paul's motion to dismiss for insufficient service
of process.

In Paul's motion to stay, Judge Oetken analyzed whether the
Colorado River abstention is appropriate" by "consider[ing] [these]
six factors: (1) whether the controversy involves a res over which
one of the courts has assumed jurisdiction; (2) whether the federal
forum is less inconvenient than the other for the parties; (3)
whether staying or dismissing the federal action will avoid
piecemeal litigation; (4) the order in which the actions were
filed, and whether proceedings have advanced more in one forum than
in the other; (5) whether federal law provides the rule of
decision; and (6) whether the state procedures are adequate to
protect the plaintiff's federal rights.

Considering all the factors, Judge Oetken found that all but the
last factor weigh in favor of abstention. The District Court,
therefore, concluded that abstention is proper.

A copy of the Court's Opinion and Order dated August 19, 2020 is
available at https://bit.ly/3cdNzeV from Leagle.com.

                 About Silicon Hills Campus

Silicon Hills Campus, LLC, a single asset real estate, owns a 158+
acre set of parcels containing more than 1,000,000 square feet of
improvements, an operating power plant capable of providing full
electric service to the buildings in the property and generating
excess electricity which could be sold for revenue generation, and
a separate parcel of land which currently houses a billboard,
located in northwest Austin.

Silicon Hills Campus filed a voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. W.D. Tex. Case No.
20-10042) on Jan. 7, 2020. In the petition signed by Brian Elliott,
corporate counsel, the Debtor was estimated to have $100 million to
$500 million in assets and $50 million to $100 million in
liabilities.

Judge Tony M. Davis oversees the case.

The Debtor tapped Waller Lansden Dortch & Davis, LLP as its legal
counsel, and Lain, Faulkner & Co., P.C. as its accountant.


SILVER LAKES: $2.02M Sale of Helendale Property to Presto Approved
------------------------------------------------------------------
Judge Mark S. Wallace of the U.S. Bankruptcy Court for the Central
District of California authorized Silver Lakes Resort Lodge
Interval Owners Association's sale of its principal asset, the real
and personal property commonly known as the Inn at Silver Lakes,
located at 14818 Clubhouse Drive, Helendale, California, and
associated furniture and fixtures, to Presto Properties, LLC for
$2.02 million, cash.

A telephonic hearing on the Motion was held on Aug. 18, 2020 at
2:00 p.m.  

In the event that the Buyer fails to close or otherwise breaches
its purchase agreement with the Debtor, the Debtor is authorized
without further order of the Court, to sell and convey the Property
to the Backup Buyer, David Neal and/or his assignee, for $2.01
million.

The Sale will be "as is, where is," without representations or
warranties, and free and clear of liens, claims and interests,
including, without limitation, the following:

      (a) the property tax lien of County of San Bernardino County
("SBC Lien"), listed in its Claim #7 in the amount of $702,570;

      (b) the judgment lien of Silver Lakes Association ("SLA
Lien"), recorded as Instrument No. 15-7497731650on Nov. 25, 2015,
in the amount of $500,000;

      (c) the tenant in common interests of all co-owners of the
Property with the Debtor ("Interval Owners"), including all related
rights such as easements; and

      (d) the interests, if any, of non-owner occupants of the
Property.

Upon the closing, such transfer will constitute the legal, valid,
binding, and effective transfer of the Property and will vest the
Buyer or the Backup Buyer, as the case may be, with all right,
title, and interest in and to the Property free and clear of all
liens, claims and interests.

The SBC Lien will be satisfied in full by the payment of $702,570
out of escrow at closing.

The SLA Lien will be satisfied in full in accordance with the terms
of that certain settlement agreement between the Debtor and Silver
Lakes Association dated Oct. 29, 2015, a copy of which has been
filed in this case as Docket #66, pp. 14-19.  

The Debtor's broker, NRC Realty Advisors of California, Inc., will
be paid out of escrow at closing the compensation provided in its
Court-approved employment application and listing agreement, and
the limited objection of the United States Trustee is overruled.

Mars Hospitality, LLC will be paid out of escrow at closing the
break-up fee in the amount of $19,500.

The remaining sale proceeds after payment of the SBC lien, the SLA
lien, NRC's compensation, the Break-up Fee and closing costs will
be held in a DIP account maintained by the Debtor for use and
distribution by the Debtor in accordance with the Bankruptcy Code,
with the portion of the Sale Proceeds, if any, due to Interval
Owners on account of their interests to be paid pursuant to a
confirmed plan of reorganization and in accordance with the
Declaration of Covenants, Conditions and Restrictions governing
such interests.

Notwithstanding Bankruptcy Rule 6004(h), the Order will be
effective and enforceable immediately upon entry and will not be
subject to any stay as provided therein and its provisions will be
self-executing.

                  About Silver Lakes Resort
                Lodge Interval Owners Association

Silver Lakes Resort Lodge Interval Owners Association --
https://www.innatsilverlakes.com/ -- is an association of owners of
The Inn at Silver Lakes, a resort in Southern California that is
affiliated with RCI and Interval International.

Silver Lakes Resort Lodge Interval Owners Association sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. C.D.
Cal. Case No. 19-16352) on July 20, 2019. In the petition signed by
Edgar A. Darden, V.P. & chief restructuring officer, the Debtor was
estimated to have $1 million to $10 million in both assets and
liabilities.

The case is assigned to Judge Mark S. Wallace.

Teresa A. Blasberg, Esq., at BLASBERG & ASSOCIATES, represents the
Debtor.



SIMPLY ESSENTIALS: Seeks to Hire AgVisory as Appraiser
------------------------------------------------------
Simply Essentials, LLC seeks approval from the U.S. Bankruptcy
Court for the Eastern District of California to hire AgVisory as
its appraiser.

Debtor owns rolling stock, which it intends to sell and requires
the services of the firm to conduct an appraisal of the property.

AgVisory will be paid up to $500 and will be reimbursed for
work-related expenses incurred.

AgVisory is a "disinterested person" within the meaning of Section
101(14) of the Bankruptcy Code, according to court filings.

The firm can be reached through:

     Jodi Pries
     AgVisory
     PO Box 177
     Nassau, DE 19969
     Phone: (302) 270-5165

                    About Simply Essentials LLC

Simply Essentials, LLC, a company that owns and operates a chicken
processing plant, filed its voluntary petition under Chapter 11 of
the Bankruptcy Code (Bankr. E.D. Cal. Case No. 20-12633) on Aug.
10, 2020. The petition was signed by David B. Pitman, secretary of
Pitman Farms, Inc., sole member and manager.  At the time of the
filing, Debtor estimated $10 million to $50 million in assets and
$100 million to $500 million in liabilities.  Judge Rene Lastreto
II oversees the case.  Wanger Jones Helsley PC serves as Debtor's
legal counsel.


SITEONE LANDSCAPE: Moody's Hikes CFR to Ba3, Outlook Stable
-----------------------------------------------------------
Moody's Investors Service upgraded the Corporate Family Rating of
SiteOne Landscape Supply Holding, LLC to Ba3 from B1 and the
Probability of Default Rating to Ba3-PD from B1-PD. Moody's also
upgraded the rating on SiteOne's first lien senior secured term
loan to B1 from B2. The outlook is stable and SiteOne's SGL-2
Speculative Grade Liquidity rating is unchanged.

The upgrade of the rating reflects Moody's expectations that
SiteOne will maintain a conservative financial policy and good
liquidity, while executing its growth through acquisition strategy.
The company's increased cash position will decrease reliance on the
ABL in the near term.

The stable outlook reflects Moody's expectation that SiteOne will
sustain adjusted leverage below 3.0x, interest coverage near 5.0x,
and continue to generate free cash flow. Further, Moody's expects
that the company will be able to continue growing through
acquisitions without deterioration in its credit metrics.

SiteOne's equity raise on August 3, 2020 of $262 million was
directed toward the repayment of $179 million outstanding at the
end of the company's second quarter under the ABL revolving credit
facility (ABL) with the remainder added to cash. On a pro forma
basis, cash increased to $247 million, while total available
liquidity improved to $613 million, including $366 million of ABL
borrowing availability, at June 30, 2020. Moody's believes that the
company's action is evidence of a more conservative financial
policy, shoring up its liquidity to ensure financial flexibility
against the cyclicality and seasonality of its industry. In
addition, pro forma debt to LTM EBITDA at June 30, 2020 fell more
than half a turn to 2.7x.

The following actions were taken:

Issuer: SiteOne Landscape Supply Holding, LLC;

Corporate Family Rating, upgrade to Ba3 from B1;

Probability of Default Rating, upgrade to Ba3-PD from B1-PD;

Outlook remains stable;

Issuers: SiteOne Landscape Supply Holding, LLC and SiteOne
Landscape Supply, LLC (as co-borrowers):

$450 million first lien senior secured term loan due 2024, upgraded
to B1 (LGD4) from B2 (LGD4)

RATINGS RATIONALE

SiteOne's Ba3 Corporate Family Rating reflects the recurring nature
of landscape services, lower cyclicality of maintenance and repair
work, and the company's national presence and leading market
position in a fragmented market. The rating also reflects demand
fluctuations in residential, commercial, and repair & remodeling
end markets, thin operating margins that are common to companies in
the distribution business, and the active bolt-on acquisition
growth strategy that could lead to higher debt levels and raises
integration risk.

Governance considerations include Moody's view that the recent
equity offering and debt paydown displays a willingness to maintain
a more conservative financial policy. It is Moody's expectation
that leverage will be sustained below 3.0x, including Moody's
adjustments.

SiteOne's Speculative Grade Liquidity Rating of SGL-2 reflects
Moody's expectation that the company will maintain good liquidity.
The improvement in liquidity provided by the cash raised in the
equity offering and the repayment of outstanding revolver allows
for more financial flexibility through SiteOne's common seasonality
and any weakness in the economy that may negatively influence
demand for its products and services. Furthermore, the company's
bolt-on acquisition growth strategy can be financed with cash and
less reliance on ABL borrowings.

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

The ratings could be upgraded if SiteOne continues to practice
conservative financial policies while executing its growth through
acquisition strategy. Important considerations include stable
operating margins, maintenance of a good liquidity profile,
retained cash flow to debt of greater than 20%, and sustained
leverage of less than 3.0x.

The ratings could be downgraded if the company experiences end
market weakness resulting in revenue and operating margin declines
or adopts a more aggressive financial policy (including large debt
financed acquisitions). More specifically, the ratings could be
downgraded if adjusted debt to EBITDA approaches 4.0x or EBITA to
interest coverage falls to less than 3.0x.

SiteOne Landscape Supply Holding, LLC, headquartered in Roswell,
GA, is a national wholesale distributor of landscaping supplies in
the U.S. and Canada. The company offers approximately 120,000 SKUs,
including irrigation supplies, landscape accessories, fertilizer
and nursery products, hardscapes, and maintenance supplies and
operates in 180 markets through over 550 branch locations in 45
states in the U.S. and six provinces in Canada. Its customers
include residential and commercial landscape professionals. In the
twelve months ended June 30, 2020, SiteOne generated approximately
$2.5 billion in revenues.

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


SOAPTREE HOLDINGS: Says Plan Feasible and Confirmable
-----------------------------------------------------
Soaptree Holdings LLC, a Nevada limited liability company,
submitted a brief in support of final approval of its Amended
Disclosure Statement and confirmation of its Debtor's Amended Plan
of Reorganization, by which the Debtor requests the Court enter an
order approving Debtor's amended disclosure statement on a final
basis and confirming the Debtor's amended plan of reorganization.

The Disclosure Statement to accompany the Plan was conditionally
approved by an order entered on June 25, 2020.  The Debtor served
its solicitation package regarding the Plan on June 26, 2020.  The
Court entered the order conditionally approving the Debtor's
Disclosure Statement prior to the solicitation of ballots in
support of the Plan.  Since solicitation of ballots only occurred
after the Court entered the order conditionally approving the
Debtor's Disclosure Statement, the requirements of Section 1125(b)
are satisfied, if the Disclosure Statement also contained adequate
information as required by Section 1125(a)(1).  See, e.g., In re
Trans Max Techs., Inc., 349 B.R. 80, 86 (Bankr. D. Nev. 2006).

Class 1 is comprised of the Buckhaven Secured Claim.  Class 2 is
comprised of the Bishop Secured Claim.  Class 3 is comprised of the
Scenic Sunrise Secured Claim.  Class 4 is comprised of the Scenic
Sunrise HOA Secured Claim.  Class 5 is comprised of the Morning Dew
Secured Claim, as amended by the Stipulation and Order regarding
the treatment of the Morning Dew Secured Claim.  Class 6 is
comprised of the Ennis Secured Claim.  Class 7 is comprised of the
Ennis HOA Secured Claim.  Class 8 is comprised of General Unsecured
Claims.  Class 9 is comprised of Equity Interest in the Debtor.

The Debtor asserts that the Plan satisfies all the mandatory
requirements of Section 1123(a).

Under the Plan, the Debtor will pay the Holders of the Allowed
Class 1 Buckhaven Secured Claim a monthly principal and interest
payments in the amount of $1,922, which is an amount based upon the
amount stipulated value of the Buckhaven Property being $304,061,
amortized over a term of 30 years, at a fixed rate of 6.5% per
annum; Class 1 will also receive a post-petition escrow arrears
payment in the amount of $2,357 within 60 days of Plan
confirmation; Class 1 shall further receive a monthly escrow
payment in the amount of $247.96; the first monthly payment of
principal, interest, and monthly escrow amounts will have commenced
on August 1, 2019.

Class 1 (Buckhaven Secured Claim), Class 2 (Bishop Secured Claim),
Class 5 (Morning Dew Secured Claim), and Class 8 (General Unsecured
Creditors) are all impaired and have voted to accept the Plan.3
Class 3 (Scenic Sunrise Secured Claim), Class 4 (Scenic Sunrise HOA
Secured Claim), Class 7 (Ennis HOA Secured Claim), Class 9 (Equity
Interest in Debtor) are unimpaired and thus have been deemed to
have accepted the Plan under Section 1126(f).

Here, Class 6 (Ennis Secured Claim) is impaired and has not voted
to accept the Plan. However, Debtor will pay Class 6 (Ennis Secured
Claim) the indubitable equivalent of Class 6 (Ennis Secured Claim)
a single payment in the amount of $56,300.00 within 30 days of the
Effective Date of the Plan, which is the value of the Allowed
Secured Claim. Thus, Debtor has satisfied the fair and equitable
provision of Section 1129(b)(2)(A)(i)(I) and (II), and confirmation
under Section 1129(b) is appropriate.

The Debtor also asserts that the Plan is feasible.  With respect to
Class 1, the Plan requires Debtor to pay the Holders of the Allowed
Class 1 Buckhaven Secured Claim a monthly principal and interest
payments in the amount of $1,922, which is an amount based upon the
amount stipulated value of the Buckhaven Property being $304,061,
amortized over a term of 30 years, at a fixed rate of 6.5% per
annum; Class 1 will also receive a post-petition escrow arrears
payment in the amount of $2,357 within 60 days of Plan
confirmation; Class 1 shall further receive a monthly escrow
payment in the amount of $247.96; the first monthly payment of
principal, interest, and monthly escrow amounts will have commenced
on August 1, 2019.

Counsel for the Debtor:

     Ryan A. Andersen, Esq.
     Ani Biesiada, Esq.
     ANDERSEN LAW FIRM, LTD.
     3199 E Warm Springs Rd, Ste 400
     Las Vegas, Nevada 89120
     Phone: 702-522-1992
     Fax: 702-825-2824
     Email: ryan@vegaslawfirm.legal
     Email: ani@vegaslawfirm.legal

                     About Soaptree Holdings

Soaptree Holdings LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Nev. Case No. 18-16378) on Oct. 24,
2018. In the petition signed by its manager, Shawn Samol, the
Debtor was estimated to have less than $1 million in assets and
less than $50,000 in liabilities.  Judge August B. Landis oversees
the case. The Debtor tapped Andersen Law Firm, Ltd., as its legal
counsel; and RPD Analytics, LLC as its appraiser and valuation
expert.


STATION CASINOS: S&P Affirms 'B+' ICR; Ratings Off Watch Negative
-----------------------------------------------------------------
S&P Global Ratings affirmed its ratings on Las Vegas, Nev.-based
casino operator Station Casinos LLC, including its 'B+' issuer
credit rating, and removed them from CreditWatch, where the rating
agency placed them with negative implications on March 20, 2020.

"The negative outlook reflects our forecast for adjusted leverage
to remain well above our 6x downgrade threshold over the next
several quarters and some uncertainty around the sustainability of
Station's recovery in light of our forecast for unemployment to
remain high through 2021," S&P said.

"The rating affirmation reflects our forecast for Station's EBITDA
to ramp over the next several quarters, supporting good free
operating cash flow and potential leverage improvement to about our
6x threshold by the end of 2021," the rating agency said.

S&P believes Station's EBITDA will continue to improve over the
next several quarters, after a meaningful decline in the first half
of 2020 due to the temporary closure of its properties because of
the coronavirus." Station, like most operators that were required
to suspend operations, had a meaningful decline in revenue and cash
flow in the first half of this year. Its Las Vegas properties and
its managed property, Graton Resort, closed on March 17, 2020.

The company re-opened 16 of its 20 Las Vegas properties on June 4,
2020, and Graton re-opened on June 18, 2020. These properties are
operating at reduced visitor and gaming capacity and with other
social distancing and health and safety measures in place. In
addition, S&P believes there could be lingering fears around being
in enclosed public spaces, particularly among older customers, who
are a large portion of Station's customer base. Moreover, S&P
expects unemployment to remain high.

"In our view, these factors may translate into Station's revenue
and EBITDA being below pre-COVID-19 levels, on average, through
2021, despite improvement over the next few quarters," S&P said.

"Our forecast for EBITDA and cash flow generation to grow over the
next several quarters assumes modest EBITDA margin improvement
compared to 2019 due to recent cost cuts. We believe many of these
cuts are sustainable, particularly if market demand remains
somewhat below pre-COVID-19 levels and competitors do not
meaningfully ramp-up marketing activity," the rating agency said.

S&P's 2021 base-case assumes:

-- Total revenue declines about 10%-20% relative to 2019, with
Station's Las Vegas properties' revenue declining about 10%-15%.

-- Station generates some management fee revenue, but at a
meaningfully lower level than 2019. This is because S&P believes
the management agreement will roll off during 2021, and it assumes
social distancing and economic pressures will limit capacity and
spend through much of 2021 at Graton Resort. S&P assumes Station's
agreement to manage Graton will continue through at least part of
2021 given the contract is expected to be extended past the initial
November 2020 expiration because of the property's closure earlier
this year." That said, Station and Graton have not yet determined
the length of any such extension.

-- EBITDA will be down about 10%-15% relative to 2019 (when
adjusted to add back Palms' related write-downs and charges),
driven largely by lower revenue. S&P believes Station will achieve
margin improvement because it assumes it will keep certain
low-margin or loss-leading amenities permanently closed, and it
will maintain some of the marketing, staffing, and outside service
cost reductions implemented while its properties were closed.

Notwithstanding its forecast for 2021 revenue and EBITDA to be
lower than in 2019, on average, S&P believes Station will continue
to generate good levels of free operating cash flow through 2021,
supporting potential deleveraging. This is because the majority
(roughly 60%) of Station's capital structure is lower-cost bank
debt, Station owns its real estate and is not subject to large
lease payments like some of its gaming peers, and S&P expects
Station will incur only modest levels of maintenance capital
expenditures (capex). Although S&P believes Station might
reinstitute its quarterly dividend in 2021, even if EBITDA remains
modestly below 2019 levels, the rating agency believes the company
will prioritize optional debt reduction in lieu of any development
or acquisitions through 2021.

S&P believes Station's EBITDA margin will recover toward
pre-closure levels in the near term because of recent cost cuts,
its good market position in the Las Vegas locals market, and a
relatively low gaming tax rate. S&P is forecasting Station's EBITDA
margin to recover to the high-20% area by the second half of 2020
from a meaningful drop in the first half because of property
closures and the associated loss of cash flow. S&P's forecast
assumes Station will benefit from the cost cuts it made over the
past few months, as well as from its good market position and
relatively low gaming tax rate.

S&P's EBITDA margin forecast assumes that some of the cost cuts
(certain salary and staff reductions and outside vendor expense
reductions) that Station made over the past few months will remain
in place through 2021, particularly if demand remains somewhat soft
and competitors remain rational as to marketing spending. Further,
S&P believes Station's good market position in the Las Vegas locals
market translates into higher customer spending at its properties
than competitors. Station is a market leader in the competitive and
volatile Las Vegas locals market, with a portfolio that includes
several high-quality properties and a good player loyalty program
(Boarding Pass). S&P also believes Station benefits from the low
gaming tax rate in Nevada relative to those of many other states,
which helps drive greater conversion of revenue to cash flow.

Environmental, Social, and Governance (ESG) Credit Factors for this
Credit Rating change:

-- Health and Safety Factors

The negative outlook reflects S&P's forecast for adjusted leverage
to remain well above its 6x downgrade threshold over the next
several quarters. There is also some uncertainty around the
sustainability of Station's recovery in light of S&P's forecast for
unemployment to remain high through 2021.

"We could lower the ratings if we no longer expect adjusted
leverage will improve to about 6x by the end of 2021. This would
likely occur if Station's recovery path is modestly weaker than we
are anticipating or if further property closures are required," S&P
said.

"An outlook revision to stable is unlikely over the next few
quarters given our forecast for adjusted leverage to remain high
and above our downgrade threshold through much of 2021. That said,
we could revise the outlook to stable once we are confident
adjusted leverage would be sustained under 6x," the rating agency
said, adding that it could consider higher ratings once Station has
recovered and if the rating agency expected it to maintain adjusted
leverage under 5x.


STEPHEN GOLDBERG: Allens Buying Clarksville Property for $1.5M
--------------------------------------------------------------
Stephen Bruce Goldberg asks the U.S. Bankruptcy Court for the
District of Maryland to authorize the sale of the real property and
improvements located at 12453 Watkins Bridge Lane, Clarksville,
Maryland to Erin and John Allen for $1.5 million.

On the Petition Date, the Debtor and his non-filing spouse owned
the Property.  The Property is improved by a single family home.  

The Debtor and his spouse have entered into a contract to sell the
Property to the Buyers.  Pursuant to the contract, the purchase
price of the Property is $1.5 million.  The Debtor and his
non-filing spouse are not affiliated with the buyers.  The contract
was negotiated at arms-'length an represents the fair market value
for the Property.

The contract contains several contingencies. Specifically, the
Buyers are entitled to conduct a home inspection.  However, the
Debtor will not be required to make any repairs.  However, should
the inspection reveal problems Property, the purchasers may
terminate the contract.  Additionally, the contract contained a
financing contingency.  The Buyers have provided evidenced that
they are pre-approved and can obtain a loan and will be  ready,
able, and willing to go to settlement.

The Property secures the first priority deed of trust for the
benefit of Sandy Spring Bank in the approximate amount of $1.24
million.  The Debtor has made most of the post-petition mortgage
payments but there was a pre-petition arrearage.

Additionally, the Property secures a second priority lien in favor
of Berkshire Bank.  Berkshire Bank filed a proof of claim in the
amount of $473,761.  The claim arose out of a guaranteed business
debt, which is secured by an indemnity deed of trust.  No payments
have been made the Berkshire Bank during the case.

There are no other claims against the Property.  Based upon the
costs of sale, the Debtor will be able to pay the claim of Sandy
Spring in full.  However, there will not be sufficient proceeds to
pay Berkshire Bank in full.  The Debtor does believe that Berkshire
Bank will receive a significant payment on account of its lien.  It
estimates that Berkshire Bank will receive at least $100,000.  The
value of the Property is less than the total amount of the liens on
the Property.  The Debtor will not receive any monies on account of
the sale.

The Debtor believes that these will be the costs associated with
the sale of the Property.  Approximately, $90,395 in real estate
commissions and fees.  An additional $19,000 will be paid for the
Debtor's portion of th transfer taxes.  There will also likely be
nominal costs including a lien release.  The Debtor estimates that
the total costs of sale will be $110,000.

The Property has a tax assessed value of 1,500,300.  Additionally,
the Debtor scheduled the Property value as $1,695,353 based upon a
Zillow estimate.  The Property was originally listed for sale for
$1.599 million based upon the advice of the Debtor's real estate
agent.  However, the Property had 28 showings in 30 days and only
received offers significantly less that the listing price.  Based
upon that and comments from various buyers, the Debtor's agent
recommended a price reduction to $1.5 million, which is the sales
price in this contract.  Based upon the condition of the Property,
the marketing efforts, feedback from potential purchasers, and the
number of showings, the Debtor believes that the contract price is
the best price that can be obtained for the Property at this time.

In the case, the first priority lien holder will be paid in full
and the second lien holder could be eliminated in a foreclosure
sale and therefore, applicable non-bankruptcy law permits the sale
of the property free and clear of those interests.  

The Debtor's business judgment, based upon the advice of
professionals, leads him to conclude that a sale of the Property
will maximize his estate and his ability to make payments to
creditors.  The largest creditor of the Debtor will be paid in
full.   Additionally, the sale of the Property with its high
mortgage and other attendant costs will reduce the Debtor's
expenses thereby, enabling him to fund a Chapter 11 Plan.
Therefore, the sale of the Property, with maximum return is in the
best interest of the estate and all creditors.

From the sale proceeds, the Debtor asks the Court to authorize him
to make the following distributions at settlement: 1) payment of
all cost associated with settlement, including transfer taxes and
recordation charges; 2) payment of $90,395 to the real estate
agents in consideration of their commission and fees; 3) payment of
approximately $1.24 million to Sandy Spring Bank in complete
satisfaction of its lien on the Property; and 4) payment of the
remaining sale proceeds to Berkshire Bank in consideration of its
lien on the Property.

A copy of the Contract is available at https://tinyurl.com/y4c9uvj7
from PacerMonitor.com free of charge.

Stephen Bruce Goldberg sought Chapter 11 protection (Bankr. D. Md.
Case No. 20-10612) on Jan. 16, 2020.  The Debtor tapped Richard
Rosenblatt, Esq., as counsel.



STEPSTONE GROUP: S&P Puts BB ICR on Watch Positive on Expected IPO
------------------------------------------------------------------
S&P Global Ratings placed its 'BB' issuer credit rating on
StepStone Group L.P. on CreditWatch with positive implications. S&P
also placed its 'BB' issue-level rating on StepStone's senior
secured term loan on CreditWatch Positive.

StepStone intends to launch an IPO in mid-September. The company
intends to use the proceeds, along with existing cash, to repay the
entirety of its term loan ($146.6 million outstanding as of June
30, 2020), fund general partner commitments, and for general
corporate purposes. The timing of the IPO close and amount raised
remains dependent upon market conditions.

The expected repayment of debt, happening simultaneously with the
IPO close, would substantially reduce the company's leverage and
materially improve its financial risk profile if the company
successfully executes its plans to deleverage.

"We think any upside rating changes will be capped at below
investment grade. Although, the company generates strong free-cash
flow, in our opinion, StepStone is likely to releverage the balance
sheet over the next several years," S&P said.

"In the long-term, we think the rating could go higher if StepStone
shows a minimal use of debt capital. Overall, the company's
concentration in private strategies and relatively short record
remain key risks, but the IPO should improve the financial risk
profile, providing rating support," the rating agency said.


STORAGE MEDIA: Hires Small Law as Local Bankruptcy Counsel
----------------------------------------------------------
Storage Media Group, Inc. seeks authority from the U.S. Bankruptcy
Court for the Southern District of California to employ Small Law
PC as its local bankruptcy counsel.

The services that will be provided by the firm are as follows:

     a. assist Debtor in complying with the Bankruptcy Code, the
local rules and the requirements of the Office of the U.S.
Trustee;

     b. represent Debtor in contested matters and hearings before
the bankruptcy court;

     c. advise, consult with, and assist Debtor with its Chapter 11
plan or other means of satisfying creditors' claims;

     d. evaluate, resolve or object to claims against Debtor's
bankruptcy estate;

     e. assist in the preparation of monthly operating reports,
applications and motions;

     f. assist Debtor in developing legal positions and strategies
for the duration of Debtor's Chapter 11 case; and

     g. commence, prosecute and defend suits and adversary
proceedings arising out of or relating to the case and assets of
the estate, if necessary.

The Debtor paid Small Law a $2,500 retainer.

Small Law is "disinterested" within the meaning of Section 101(14)
of the Bankruptcy Code, according to court filings.

The firm can be reached through:

     Kelly Ann Tran, Esq.
     Small Law PC
     1350 Columbia Street, Suite 700
     San Diego, CA 92101
     Tel: 619-430-4793
     Fax: 619-664-4278

                     About Storage Media Group

Storage Media Group, Inc. is a re-seller of data storage media and
imaging, fax and copier supplies.  Visit
http://www.storagemediagroup.comfor more information.

Storage Media Group sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Cal. Case No. 20-04025) on Aug. 7,
2020. The petition was signed by Ajit Kumar Chutke, authorized
representative.  At the time of the filing, Debtor estimated
$500,000 to $1 million in assets and $1 million to $10 million in
liabilities.  Judge Margaret M. Mann oversees the case.  Kelly Ann
Tran, Esq., at Small Law PC, serves as Debtor's legal counsel.


STORAGE MEDIA: Seeks to Hire Michael Lupolover as Legal Counsel
---------------------------------------------------------------
Storage Media Group, Inc. seeks authority from the U.S. Bankruptcy
Court for the Southern District of California to employ the Law
Offices of Michael Lupolover, P.C. as its legal counsel.

The services that will be provided by Michael Lupolover are as
follows:

     a. preparation and filing of bankruptcy schedules, statement
of affairs and Chapter 11 plan;

     c. representation of Debtor at the meeting of creditors and
hearings on confirmation of its bankruptcy plan;

     d. representation of Debtor in adversary proceedings and other
contested bankruptcy matters.

The firm's hourly rates are as follows:

     Legal Assistants              $100
     Paralegals                    $150
     Associate Attorneys           $250
     Suzanne Lazzetta, Esq.        $350

Debtor paid the firm a $25,000 retainer.

Michael Lupolover is "disinterested" within the meaning of Section
101(14 of the Bankruptcy Code, according to court filings.

The firm can be reached through:

     Suzarme lazzetta, Esq.
     Law Offices of Michael Lupolover, P.C.
     120 Sylvan Ave #303
     Englewood Cliffs, NJ 07632
     Phone: +1 201-461-0059

                     About Storage Media Group

Storage Media Group, Inc. is a re-seller of data storage media and
imaging, fax and copier supplies.  Visit
http://www.storagemediagroup.comfor more information.

Storage Media Group sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Cal. Case No. 20-04025) on Aug. 7,
2020. The petition was signed by Ajit Kumar Chutke, authorized
representative.  At the time of the filing, Debtor estimated
$500,000 to $1 million in assets and $1 million to $10 million in
liabilities.  Judge Margaret M. Mann oversees the case.  Kelly Ann
Tran, Esq., at Small Law PC, serves as Debtor's legal counsel.


SYLVAIN LAPOINTE: Foreign Rep Selling Bonita Springs Property
-------------------------------------------------------------
BLT Lapointe & Associés, Inc., in its capacity as foreign
representative and trustee of the insolvency proceedings of Debtors
Douglas Dixon and JoAnn Collison, an affiliate of Sylvain Lapointe,
asks the U.S. Bankruptcy Court for the Northern District of Florida
to authorize the sale of the residential property located at 28750
Trails Edge Unit 401, Bonita Springs, Florida, together with all
personal property located therein, to Randall Cundiff for $240,000.


The following residential properties in Lee and Collier Counties,
together with all personal property located therein, constitute
property of the Estate: (i) 28750 Diamond Dr. Unit 101, Bonita
Springs, Florida; (ii) the rails Edge Property; and (iii) 5811
Shady Oaks, Naples, Florida.  The schedule attached to each
Debtors' Proposal states that the Debtors are owners of the Real
Properties.  Public records confirm that the Debtors continue to be
owners of the Trails Edge Property.

In order to verify the liens and encumbrances on the Trails Edge
Property an E&O report has been ordered and will be filed with the
Court when available.  Pursuant to the Order Granting Turnover as
to Diamond Drive and Trails Edge Properties, Order on Motion for
Break Order to Enforce Settlement Agreement and Order Granting
Motion for Break Order to Enforce Settlement Agreement, the Foreign
Representatives took possession of the Trails Edge Property in
March 2020.  

The Trails Edge Property was a fully furnished short-term rental
and all such furnishings, appliances and miscellaneous household
items were on the premises when the Foreign Representative took
possession.  The Foreign Representative determined that selling the
Trails Edge Property as a turnkey vacation/rental property was in
the best interest of the estate, as it would maximize the overall
value of the property and reduce administrative expenses.

The Foreign Representative contacted several independent local real
estate agents who provided a view of the market and an opinion
regarding the market value of the Trails Edge Property.  The
tax-assessed value of the Trails Edge Property as of Dec. 31, 2019
was
$194,608.   

Recent sales, active listings and expired listings within the same
development provide useful points of comparison because the units
within the development are similar in size, location and amenities.
After reviewing the opinions of the market value and the feedback
from interested buyers, the Foreign Representative negotiated a
Purchase and Sale Agreement with the Buyer.

The Purchase Agreement provides for the sale of the Trails Edge
Property to the Buyer in its present "As Is" condition for the sum
of $240,000.  All valid liens will be paid in full prior to closing
and the Debtors would benefit from such a sale because it reduces
their overall indebtedness.

The Foreign Representatives submit that purchase price of $240,000
is consistent with the market value of the Trails Edge Property,
considering other comparable sales, and the condition of the Trails
Edge Property.  Further, the sale of the Trails Edge Property is in
the best interest of the estate as it obviates the need for
administrative expenses, such as condominium assessments,
electricity, taxes, insurance, and repairs, that would accrue
should the Foreign Representative decide to not to sell the
property and continue to market the property.

The Foreign Representative requests that the expenses necessary to
effectuate the sale, including the payment of a 6% commission to
the Broker (equivalent to $14,400) and the payment of a reasonable
fee to engage an accountant to prepare a tax return for the estate,
be deemed approved administrative expenses.

Finally, the Foreign Representative asks that the Court sets the
Sale Motion for hearing on Sept. 10, 2020 at 11:00 a.m.

A copy of the Agreement is available at
https://tinyurl.com/y56hrz7x from PacerMonitor.com free of charge.

Sylvain Lapointe sought Chapter 11 protection (Bankr. M.D. Fla.
Case No. 16-02797) on March 31, 2016.  The Debtor tapped Annette C
Escobar, Esq., at Astigarraga David Mullins Grossman as counsel.
On Oct. 4, 2016, the Court recognized the Order entered in the
Quebec Proceeding authorizing BLT Lapointe & Associes, Inc., the
Foreign Representative, to administer, realize and distribute
property of the Estate located within the United States.  


TALLGRASS ENERGY: S&P Rates New Senior Unsecured Notes 'BB-'
------------------------------------------------------------
S&P Global Ratings assigned its 'BB-' issue-level rating and '2'
recovery rating to Tallgrass Energy Partners L.P.'s new senior
unsecured notes. The '2' recovery rating indicates its expectation
for substantial (70%-90%; rounded estimate: 85%) recovery in the
event of a payment default.

At the same time, S&P is lowering its issue-level rating on Prairie
ECI Acquiror L.P.'s senior secured debt to 'B-' from 'B' given the
additional priority debt at Tallgrass, which will diminish the
value available to the holdco lenders in the rating agency's
simulated default scenario. S&P also revised its recovery rating on
the secured debt to '6' (rounded estimate: 0%) from '5'.

S&P's 'B+' issuer credit ratings on both Tallgrass and Prairie
remain unchanged. The company will use the proceeds from the new
debt to repay outstanding revolver borrowings, thus the transaction
will not increase leverage and the company's credit metrics and
financial risk are unaffected.

The company announced it will be issuing senior unsecured debt. S&P
is rating the new debt 'BB-', which is in line with its issue-level
rating on Tallgrass' existing senior unsecured debt.

"The company will use the proceeds from this debt predominantly to
repay outstanding revolver borrowings, thus we do not expect its
leverage to increase materially. Our view of Tallgrass' credit
metrics and financial risk remain unchanged," S&P said.

"The stable outlook on both entities reflects our expectation that
Prairie will maintain consolidated adjusted leverage in the
6.75x-7.00x range while Tallgrass sustains adjusted leverage of
approximately 5.5x over the next two years," the rating agency
said.


TEAM HEALTH: Fitch Cuts IDR to 'CCC+', Off Watch Negative
---------------------------------------------------------
Fitch Ratings has removed from Rating Watch Negative and downgraded
Team Health Holdings, Inc.'s (Team Health) ratings, including the
Issuer Default Rating (IDR) to 'CCC+' from 'B-'. The ratings apply
to $4 billion of debt at June 30, 2020. The downgrade reflects the
issuer's high leverage, which Fitch does not expect to return to
pre-pandemic levels in 2021 due to secular weakness in emergency
department (ED) patient volumes and ongoing commercial payor
contract disputes.

KEY RATING DRIVERS

Coronavirus Pandemic Affecting Operations: Pandemic-related
business disruption has depressed volumes of elective healthcare
procedures and ED patient visits, weighing on Team Health's revenue
and cash flow. Team Health generates about 60% of revenues in the
ED and patient visits were down sharply during the
government-mandated closures in many states during Q220. Operating
margins were further pressured by the need to maintain staffing
readiness in the ED despite lower patient volumes, which is
characteristic of the physician staffing business model. ED patient
volumes began to rebound as closure orders lifted and patients
appeared to regain confidence in physical healthcare delivery
environments. This recovery is early and tenuous, and Fitch expects
pandemic related business disruption to continue to affect Team
Health's operations for the rest of 2020.

Secular Headwinds to ED Volumes: Although Fitch believes that the
healthcare services sector will experience a strong recovery in
patient volumes in 2021, there is a risk that demand proves to be
more economically sensitive than during past U.S. recessions,
leading to a slower than anticipated recovery. This risk could be
more pronounced for ED patient volumes than other healthcare
settings because of ongoing secular headwinds to volumes of lower
acuity ED visits, including scrutiny by health insurers, more
competition from alternative settings like urgent care clinics, and
increased cost sharing for patients with high deductible health
insurance plans.

Payor Dispute Weighing on Credit Profile: The downgrade also
reflects an expectation that a contract dispute with large
commercial health insurer UnitedHealth (UNH) will weigh on Team
Health's financial cushion during 2020-2021. This will leave the
company with less flexibility to absorb other negative industry
developments, which include operational disruption from the
coronavirus pandemic, the potential for federal legislation
regulating balance billing that does not incorporate a payment
dispute resolution mechanism that is favorable for healthcare
providers, and the secular headwinds to volumes of lower acuity ED
patients.

Sufficient Sources of Liquidity During Pandemic: Fitch believes
Team Health has adequate sources of liquidity to manage through
these operating headwinds due to historically positive FCF
generation, limited near-term debt maturities and the potential to
adjust the cost structure, although operational stress related to
the coronavirus pandemic makes adjusting operating expenses more
difficult in the near-term.

At June 30, 2020, Team Health had $697 million of cash on hand. The
company maintains a $400 million revolving credit facility which
was fully drawn at the end of Q220. Grants received through the
Coronavirus Aid, Relief and Economic Security (CARES) Act have also
supported liquidity and helped the company maintain compliance with
the revolver's springing financial maintenance covenant at the June
30, 2020 test date. Compliance with the covenant, which requires
first lien net debt to consolidated EBITDA of no greater than 7.8x,
is required when 35% of the available capacity on the $400 million
revolver is drawn.

Persistently High Leverage: Team Health's total debt/EBITDA will
spike during 2020 compared with YE 2019 Fitch calculated leverage
of 8.9x because of the effects of the pandemic on operations. Fitch
currently anticipates leverage to drop rapidly in 2021 as the
business recovers, but forecasts leverage persistently above 9x in
its ratings case scenario assuming that the company uses cash on
hand to repay the balance outstanding on the revolver in 2021.
Prior to the pandemic, a combination of positive FCF and
divestiture proceeds funded scheduled amortization of the term loan
as well as buying back some bonds in the open market. Fitch does
forecast a return to positive FCF generation in 2021, which could
support future debt repayment, but the level is not likely to be
sufficient to materially reduce leverage.

Decent FCF Generation: Cash generation is expected to be decent for
the 'CCC+' rating category, with FFO fixed charge coverage
sustained above 1.5x through the forecast period, though dipping
below this in level in 2020 as a result of operational softness
from reduced volumes due to the pandemic. In the LTM period ended
Dec. 31, 2019, the company produced $109 million of FCF,
representing a 2.3% FCF margin. Low working capital and capital
spending requirements and the expectation of no dividend payments
to the private equity owner in the near-term support this
relatively strong FCF.

Leading Position in Growing Markets: Team Health is one of only a
handful of national providers of outsourced healthcare staffing,
providing scale and scope for contracting with consolidating acute
care hospital systems and commercial health insurers. Leading scale
affords good growth opportunities, both organic and inorganic in
nature. Nearly all of Team Health's revenues are sourced from
contracted physician and other healthcare services. Concentration
is heaviest in emergency department (ED) staffing services, and ED
volumes have been soft across the physician staffing industry since
2017. Given the challenges inherent in rapidly adjusting staffing
levels, this has weighed on Team Health's margins and cash
generation.

DERIVATION SUMMARY

Team Health's 'CCC+' rating reflects the company's high financial
leverage, secular headwinds to growth in ED patient volumes, and
lingering challenges integrating a large acquisition in the
post-acute care segment that dates back to 2015. Team Health's
credit profile benefits from good depth and competitive scale
relative to peers Mednax (not rated) and Envision Healthcare Corp.
(not rated) in service lines where physician staffing companies
have a large presence, including emergency medicine and anesthesia.
The financial profiles of Team Health and some of its peers reflect
private equity investment in the physician staffing segment. Team
Health is owned by Blackstone following a 2017 leveraged buyout,
and Envision was purchased by KKR & Co. in 2018.

Relative to lower rated healthcare provider peers in the acute care
hospital segment, including Community Health Systems (CCC), Fitch
thinks Team Health's credit profile benefits from more consistent
and stable FCF generation due to lower capital expenditure and
working capital requirements in the physician staffing segment.
This better FCF generation supports an expectation that the company
has the ability to reduce leverage through debt pay down without
compromising investment in the business, relative to highly
leveraged hospital industry peers. In addition to the ability to
reduce leverage, the higher relative rating also reflects Fitch's
view that the company and the private equity owner have the
willingness to use the aforementioned FCF to reduce debt before
they need to refinance the capital stack.

KEY ASSUMPTIONS

  -- Fitch's revenue and EBITDA calculations do not include CARES
Act grants, but these monies are included in the FCF calculation.

  -- Fitch's ratings case incorporates a 11% drop in revenue and a
90% drop in 2020 EBITDA compared with 2019 due to the operational
effects of the coronavirus pandemic and the UNH dispute.

  -- 2021 EBITDA is expected to recover sharply to 90% of the 2019
level. These estimates are highly sensitive to the depth and
duration of the coronavirus pandemic in Team Health's markets.

  -- Company repays the revolver draw in 2021 and otherwise debt
repayment is limited to term loan amortization; leverage remains
above 10.0x at YE 2021.

  -- FFO fixed charge coverage recovers to 2.3x in 2021.

RATING SENSITIVITIES

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

  -- An expectation that gross debt/EBITDA after dividends to
associates and minorities will be sustained below 8.0x.

  -- FFO fixed charge coverage sustained above 1.5x.

  -- Profit margin stabilization evidencing that the company has
successfully addressed soft organic operating trends with cost
containment measures.

  -- At least break-even FCF generation.

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

  -- FFO fixed charge coverage sustained below 1.0x.

  -- A FCF deficit that requires incremental debt funding.

  -- An expectation that the company will violate the debt
agreement financial maintenance covenant and be unable to secure
relief from lenders.

  -- An expectation that the company will not be able to refinance
the revolving credit facility due in 2022 or secure alternative
sources of liquidity.

LIQUIDITY AND DEBT STRUCTURE

Adequate sources of liquidity: Liquidity includes cash on hand of
$697 million as of June, 30 2020 and a $400 million cash flow
revolver with $390 million currently drawn and availability net of
$9 million of letters of credit. LTM FCF at Dec. 31, 2019 was $109
million, representing a 2.3% FCF margin. The company has
historically generated positive FCF, supported by low working
capital and capex requirements. Fitch expects Team Health to post
negative FCF in 2020 due to operational disruption associated with
the coronavirus pandemic but forecasts the FCF margin to rebound to
3.8% in 2021. The next significant debt maturity is the revolving
credit facility in February 2022, followed by the term loan in
February 2024. Term loan amortization is 1% or about $29 million
per year.

Debt Issue Ratings: The 'B'/'RR2' ratings for Team Health's senior
secured revolver and senior secured term loan reflect Fitch's
expectation of recovery of outstanding principal in the 71%-90%
range under a bankruptcy scenario. The 'CCC-'/'RR6' rating on the
senior unsecured notes reflect Fitch's expectation of recovery in
the 0%-10% range. The recovery assumed for the senior unsecured
notes is due to a concession payment by the senior secured
creditors.

Fitch estimates an enterprise value (EV) on a going concern basis
of $2.4 billion for Team Health, after a deduction of 10% for
administrative claims. The EV assumption is based on
post-reorganization EBITDA after dividends to associates and
minorities of $374 million and a 7x multiple. The
post-reorganization EBITDA estimate is 7% lower than Fitch
calculated 2019 EBITDA for Team Health. The primary drivers of this
estimate are negative implications of commercial payor contract
disputes and assumed ongoing deterioration in the profitability of
the hospitalist business. To date, Fitch does not believe that the
coronavirus pandemic has changed the longer-term valuation
prospects for the healthcare services industry and Team Health's
going-concern EBITDA and multiple assumptions are unchanged from
the last ratings review.

The 7x multiple used for Team Health reflects a stressed multiple
versus the approximately 11x EBITDA Blackstone paid for the company
in 2017. More recently, KKR paid about 10x EBITDA for Team Health's
staffing industry peer, Envision Healthcare Corp. The 7x multiple
is closely aligned with historical observations of healthcare
industry bankruptcy emergence multiples. In a recent study, Fitch
determined that the median exit multiple in 17 historical
healthcare and pharmaceutical industry bankruptcies was 6.5x.

The recovery analysis assumes the $400 million available on the
revolver is fully drawn and includes this amount in the senior
secured claims. Senior secured claims also include approximately
$192 million in private term loans that rank pari passu with the
term loan B maturing 2024.

ESG CONSIDERATIONS

Unless otherwise disclosed in this section, the highest level of
ESG credit relevance is a score of '3'. This means ESG issues are
credit neutral or have only a minimal credit impact on the entity,
either due to their nature or the way in which they are being
managed by the entity.

Team Health has an ESG Relevance Score of '4' for Exposure to
Social Impacts due to societal and regulatory pressures to
constrain growth in healthcare spending in the U.S. This dynamic
has a negative impact on the credit profile and is relevant to the
rating in conjunction with other factors.

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.


THOMAS HEALTH: Requests Status Conference for Beefed-Up Plan
------------------------------------------------------------
Thomas Health System, Inc., et al., request a status conference
relating to the Debtors' Amended Joint Chapter 11 Plan of
Reorganization, the Disclosure Statement for Amended Joint Chapter
11 Plan of Reorganization and the Notice of Settlement Regarding
Plan Confirmation.

The Amended Plan greatly enhances the treatment to Class 1
Creditors (Series 2008 Secured Bond Claims) and Class 5 Creditors
(General Unsecured Claims). Among other things, Class 1 is
receiving approximately $5,848,200 more in cash than previously
proposed by the Debtors. Additionally, Class 5 is receiving
approximately $6,250,000 more in cash than previously proposed by
the Debtors.

Counsel to the Debtors:

     Brandy M. Rapp
     WHITEFORD TAYLOR & PRESTON LLP
     10 S. Jefferson Street, Suite 1110
     Roanoke, Virginia 24011
     Tel: (540) 759-3577
     E-mail: brapp@wtplaw.com

     Michael J. Roeschenthaler
     200 First Avenue, Third Floor
     Pittsburgh, PA 15222
     Tel: (412) 618-5601 Tel.
     E-mail: mroeschenthaler@wtplaw.com

         - and -

Local Counsel to the Debtors:

     Jared M. Tully, Esq.
     FROST BROWN TODD, LLC
     500 Virginia Street East, Suite 1100
     Charleston, WV 25301
     Tel: 304-345-0111
     E-mail: jtully@fbtlaw.com

     Douglas L. Lutz, Esq.
     3300 Great American Tower
     301 East Fourth Street
     Cincinnati, Ohio 45202
     Tel: 513-651-6800
     E-mail: dlutz@fbtlaw.com

                About Thomas Health System

Thomas Health System, Inc., is a non-stock, non-profit corporation
incorporated under the laws of the State of West Virginia.  Formed
in 2006, Thomas Health System is the consolidated parent entity and
holding company whose primary function is to serve as the
controlling body of the affiliated debtors.  Thomas Health System
and its affiliated debtors collectively form a 391-bed hospital
system that employs nearly 1,700 individuals and an estimated 250
clinicians.

Thomas Health System sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. W.Va. Lead Case No. 20-20007) on Jan.
10, 2020.  At the time of the filing, Thomas Health System had
estimated assets of between $1 million and $10 million and
liabilities of between $100 million and $500 million.   

Judge Frank W. Volk oversees the case.

The Debtors tapped Whiteford, Taylor & Preston, LLP as bankruptcy
counsel; Frost Brown Todd LLC as local counsel; Force Ten Partners,
LLC, as financial advisor; Splic Capital Advisors, LLC and Solic
Capital, LLC as investment banker; and Omni Management Group as
claims, notice and solicitation agent.


THOMAS HEALTH: Unsecureds to Split $7M in Rosemawr-Funded Plan
--------------------------------------------------------------
Thomas Health System, Inc., et al., submitted a Disclosure
Statement for their Amended Joint Chapter 11 Plan of
Reorganization.

According to the Disclosure Statement, "GUC Distribution" means the
payment by the Debtors of Cash, free and clear of any Liens, claims
or encumbrances, in the amount of $7,000,001, exclusively for the
distribution to Holders of Allowed Class 5 General Unsecured Claims
pursuant to the terms set forth in Article III.D.5 herein.  For the
avoidance of doubt, as part of the Global 9019 Settlement, the Bond
Trustee will receive $1.00 on account of all Allowed Bond
Deficiency Claims in full and final settlement of all such Allowed
Bond Deficiency Claims, with the remaining $7,000,000 of the GUC
Distribution available exclusively for distribution to the Holders
of Non-Deficiency General Unsecured Claims.

The Plan is centered around a comprehensive settlement and
Compromise among the Debtors, the Bond Trustee and the Creditors
Committee regarding the Debtors' obligations associated with their
senior secured indebtedness, the Series 2008 Bond Claims, the
Challenge Rights, and the Challenge Litigation, which enables the
Plan to become effective in these Chapter 11 Cases, ends the
incurrence and expenditure of continuing administrative expenses of
the Debtors, permits cash payments to be made to certain creditors,
including General Unsecured Creditors, on or about the Effective
Date of the Plan and thereafter, and resolves the remaining
litigation pending among the Creditors Committee, the Bond Trustee
and all other parties named in the Challenge Litigation
(hereinafter, the "Global 9019 Settlement").  The Global 9019
Settlement will therefore permit the Debtors to realize their
multi-year effort to resolve their senior debt obligations and
maintain their existing healthcare businesses.  The Global 9010
Settlement provides for

   (i) the classification and treatment of the Series 2008 Bond
Claims specified in the Plan;

  (ii) the release and exculpation terms for the Bond Trustee,
Bondholders, the Creditors Committee and its members, as specified
in the Plan, including, without limitation, the Releasing Parties
releasing the Released Claims;

(iii) the compromise of the Bond Trustee's Diminution Claims;

  (iv) the Bond Trustee's agreement to support the Debtors' use of
Cash to pay Allowed Administrative Claims, Professional Fee Claims,
Priority Tax Claims, and Other Priority Claims;

   (v) the compromise of the Bond Deficiency Claims;

  (vi) the Debtors' use of Cash to provide liquidity to the
Debtors' continued business on and after the Effective Date;

(vii) funding of the GUC Distribution to pay Allowed General
Unsecured Claims under the Plan;

(viii) the settlement and dismissal of the Challenge Litigation
with prejudice as of the Effective Date and

  (ix) the agreement by the Bond Trustee, the majority holders of
the Series 2008 Bond Claims and the Creditors Committee to support
confirmation of the Plan.

The treatment and distributions provided for in the Plan with
respect to the Class 1 and Class 5 Claims under the Global 9019
Settlement reflect a compromise and settlement of numerous complex
issues including the scope, extent and value of the collateral
associated with the Series 2008 Bonds, the valuation of the Bond
Trustee's Diminution Claims, the extent and value of assets of the
Estates available for distribution to Holders of Allowed General
Unsecured Claims and other issues raised in the Challenge
Litigation, potential disputes and objections the Bond Trustee, the
Creditors Committee and Debtors would litigate concerning the
Debtors' ability to confirm a contested plan, and related matters.

The Plan will be funded by exit financing provided by certain funds
advised by or management by Rosemawr.  After the Petition Date, the
Debtors continued the Strategic Process and selected an exit loan
transaction proposed by HCM to provide resources necessary for the
Debtors' planned exist from the Chapter 11 Cases. On June 9, 2020,
the Debtors executed a Financing Commitment Letter with HCM whereby
HCM agreed to refinance the Bond Debt (the "Proposed HCM
Financing").  The Proposed HCM Financing included the issuance of
bonds with a par amount of $60.1 million of tax exempt and taxable
bonds, with the final par amount to be determined, and up to $13
million of the bonds to be taxable.  Among other uses, proceeds of
the bonds, together with other resources of the Debtors, were to be
used to make a $47 million payment to the Bond Trustee on the
Effective Date on account of the Series 2008 Bond Claims. The
Debtors' Joint
Plan of Reorganization dated July 7, 2020 (the "Original Plan"),
was based upon and incorporated the terms of the Proposed HCM
Financing.

Subsequent to the Debtors' filing of the Original Plan, certain
funds advised or managed by Rosemawr purchased the majority of the
outstanding Series 2008 Bonds.  Rosemawr is an investment manager
with over $1 billion under management, focused exclusively on
municipal and not-for-profit borrowers, and has extensive
experience in not-for-profit healthcare, including distressed
borrowers. Upon reviewing the Original Plan, Rosemawr submitted an
alternative to the Proposed HCM Financing.  Rosemawr's proposed
refinancing (the "Rosemawr Financing"), which is set forth in a
Term Sheet dated August 2, 2020 (the "Rosemawr Term Sheet"),
provides materially better economic terms to the Debtors and their
estates as compared to the Proposed HCM Financing.  Similar to that
financing, Rosemawr proposes to purchase 60.1 million in of the
Series 2020 Bonds to be issued by the WVHFA on behalf of the
Debtors.  However, the Rosemawr Financing will result in immediate
up-front savings of over $5.8 million as compared to the Proposed
HCM Financing. In addition, due to lower interest rate, longer
maturity, and longer interest only period, the Debtors will benefit
from significant ongoing cash flow savings, estimated at over $3.8
million through 2030 compared to the Proposed HCM Financing.
Additionally, the Debtors will no longer be exposed to the
refinancing risk associated with a bullet maturity after 10 years,
as was required under the Proposed HCM Financing.

After consideration of all of the terms of Proposed HCM Financing
and the Rosemawr Financing, the Debtors have determined, in the
exercise of their business judgment and their fiduciary duty to
their creditors, to move forward with the Rosemawr Financing. The
upfront savings of approximately $5.8 million will be distributed
to the Holders of the Allowed Series 2008 Claims.  Moreover, the
ongoing savings and more favorable financial and other covenants
under the Rosemawr Financing will bolster the decision of the
Debtors to increase the Plan distributions to General Unsecured
Creditors by $6.25 million.

Class 5 General Unsecured Claims totaling $93,154,595 will each
receive a pro rata share of the $7,000,001 GUC Distribution, on or
as soon as reasonably practicable after the later of: (i) thirty
(30) days after the Effective Date or (ii) the date that is thirty
(30) days after the date such General Unsecured Claim is Allowed.
As part of the Global 9019 Settlement, the Bond Trustee will
receive $1.00 on account of all Allowed Bond Deficiency Claims in
full and final settlement of all such Allowed Bond Deficiency
Claims, with the remaining $7,000,000 of the GUC Distribution
available exclusively for distribution to the Holders of
Non-Deficiency General Unsecured Claims.

The Creditors Committee shall not be dissolved upon the Effective
Date. The Committee shall dissolve upon the earlier of: (i) the
Bankruptcy Court's entry of final decrees closing the Chapter 11
Cases, or (ii) final distribution of the GUC Distribution. The
Creditors Committee shall continue to be represented by Sills,
Cummis & Gross P.C., Bailey & Wyant, PLLC, and Grant Thornton, LLP
(the "Committee Professionals") until dissolution of the Creditors
Committee as set forth above.  The Committee Professionals'
reasonable fees and expenses in connection with representation of
the post-Effective Date Creditors Committee shall be paid by the
Reorganized Debtors.

A full-text copy of the Disclosure Statement dated August 3, 2020,
is available at https://tinyurl.com/y2xjue3c from PacerMonitor.com
at no charge.

Counsel to the Debtors:

     Michael J. Roeschenthaler
     WHITEFORD TAYLOR & PRESTON LLP
     200 First Avenue, Third Floor
     Pittsburgh, PA 15222
     Tel: (412) 618-5601
     E-mail: mroeschenthaler@wtplaw.com

     Brandy M. Rapp
     10 S. Jefferson Street, Suite 1110
     Roanoke, Virginia 24011
     Tel: (540) 759-3577
     E-mail: brapp@wtplaw.com

Local Counsel to the Debtors:

     Jared M. Tully
     FROST BROWN TODD, LLC
     500 Virginia Street East, Suite 1100
     Charleston, WV 25301
     Tel: 304-345-0111
     E-mail: jtully@fbtlaw.com

     Douglas L. Lutz
     3300 Great American Tower
     301 East Fourth Street
     Cincinnati, Ohio 45202
     Tel: 513-651-6800
     E-mail: dlutz@fbtlaw.com

                   About Thomas Health System

Thomas Health System, Inc., is a non-stock, non-profit corporation
incorporated under the laws of the State of West Virginia. Formed
in 2006, Thomas Health System is the consolidated parent entity and
holding company whose primary function is to serve as the
controlling body of the affiliated debtors.  Thomas Health System
and its affiliated debtors collectively form a 391-bed hospital
system that employs nearly 1,700 individuals and an estimated 250
clinicians.

Thomas Health System sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. W.Va. Lead Case No. 20-20007) on Jan.
10, 2020. At the time of the filing, Thomas Health System had
estimated assets of between $1 million and $10 million and
liabilities of between $100 million and $500 million.   

Judge Frank W. Volk oversees the case.

The Debtors tapped Whiteford, Taylor & Preston, LLP as bankruptcy
counsel; Frost Brown Todd LLC as local counsel; Force Ten Partners,
LLC, as financial advisor; Splic Capital Advisors, LLC and Solic
Capital, LLC as investment banker; and Omni Management Group as
claims, notice and solicitation agent.


TI GROUP: Moody's Rates $1.5BB Secured Credit Facilities 'B1'
-------------------------------------------------------------
Moody's Investors Service assigned a B1 rating to TI Group
Automotive Systems L.L.C.'s (TI Group) amended and extended senior
secured credit facilities, including a $225 million revolving
credit facility due 2024 and $1.3 billion senior secured term loans
due 2024. TI Group's existing Corporate Family and Probability of
Default Ratings are unaffected at B1, and B1-PD, respectively. The
Speculative Grade Liquidity Rating remains SGL-3. The outlook is
stable.

The amended and extended senior secured credit facilities will
extend the maturities of TI Group's existing term loans to 2024
from 2022 and extend the maturity of the existing revolving credit
to 2024 from 2023. The revolving credit facility's commitment is
also increased to $225 million from $125 million. Concurrent with
the transaction TI Group's existing $100 million asset backed
revolving credit facility is expected to be cancelled.

Rating assigned:

Issuer: TI Group Automotive Systems L.L.C.

Senior Secured Bank Credit Facility, at B1 (LGD3)

Ratings unaffected:

Corporate Family Rating, at B1

Probability of Default Rating, at B1-PD

Existing Senior Secured Bank Credit Facility, at B1 (LGD3)

(This rating will be withdrawn upon its repayment.)

RATINGS RATIONALE

TI Group's ratings continue to reflect the company's strong
competitive position as a leading auto supplier for fluid storage,
carrying and delivery systems, and its diverse customer and
geographic exposure. The company's second quarter 2020 revenue
losses modestly outperformed global automotive production trends.
As of June 30, 2020, Debt/EBITDA was estimated at 4.8x and
EBITA/interest at 2.3x (both inclusive of Moody's standard
adjustments), and likely to stay around those levels as the global
automotive industry continues to gradually recover through 2020.
Longer term, TI Group's portfolio of products, including thermal
cooling and pressure resistant fuel tanks are expected to support
vehicle electrification trends.

The amended and extended credit facilities are expected to provide
additional operating flexibility as the increased cash flow
revolving credit commitment will replace borrowing base limitations
under the existing $100 million asset based revolving credit
facilities.

The stable outlook is expected to be supported by gradually
improving credit metrics into 2021 and strong cash balances. This
operating flexibility should help mitigate potential interruptions
from brief spikes in coronavirus infection rates, and from
potentially slower recovering vehicle demand with more extended
recessionary conditions.

TI Group's adequate liquidity profile is supported by cash on hand
and expected availability under the new revolving credit facility.
Cash on hand at June 30, 3030 was EUR543 million. Availability as
of June 30, 2020 was modest at EUR55.4 million under the existing
$100 million asset based revolving (ABL) credit facility ABL
facility while the $125 million cash flow revolving credit facility
was fully drawn. The cash flow revolving credit facility was repaid
in full in July 2020. Pro forma for the amend/extend transaction,
the upsized $225 million cash flow revolving credit facility is
expected to essentially be fully available.

Moody's now anticipates breakeven free flow generation by year-end
2020 as recovering of global automotive production consumes cash in
the second half of 2020. The amended/extended cash flow revolver is
expected to have a springing net leverage ratio covenant when
certain availability levels are triggered. Moody's does not
anticipate that the thresholds under the facility will be tested
over the next 12 months. The amended/extended term loan is not
expected to have financial maintenance covenants.

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

The ratings could be upgraded with sustained profit amounts that
provide the expectation of continued free cash flow, along with
debt reduction such that Debt/EBITDA is sustained below 2.5x and
EBITA/Interest sustained over 4.5x. Important considerations for
any upgrade would be good liquidity and financial policies which
balance shareholder returns with capital reinvestment and debt
reduction.

The ratings could be downgraded with the expectation of
EBITA/Interest under 3.5x, Debt/EBITDA sustained above 4x into
2021, or a deteriorating liquidity profile. The ratings could be
downgraded if shareholder distributions or acquisitions are made
resulting in leverage expected to be sustain at the above
threshold.

TI Group's products and services are exposed to material
environmental risks arising from increasing regulations on carbon
emissions. Automotive manufacturers continue to announce the
introduction of electrified products to meet increasingly stringent
regulatory requirements. As automotive sales shift to hybrid
electric and electric vehicles, TI Group has the opportunity to
shift its product mix more toward to thermal cooling and heating
products and plastic and pressure-resistant fuel tanks.
Nonetheless, even with shifting vehicle sales, internal combustion
engines will remain an important part of the powertrain which will
require the company's product mix.

From a governance perspective, TI Group's deferral of the company's
second quarter 2020 dividend by the company's majority owner
demonstrated strong support of its debt holders.

The principal methodology used in these ratings was Automotive
Supplier Methodology published in January 2020.

TI Automotive is the trade name for the operations of TI Fluid
Systems plc, the parent company of TI Group Automotive Systems,
L.L.C. TI Automotive is a leading global manufacturer of fluid
storage, carrying and delivery systems, primarily serving
automotive OEMs of light duty vehicles with fuel tank and delivery
systems representing about 40% of revenue and other fluid carrying
systems 60%. Revenues for the LTM period ending June 30, 2020 were
approximately EUR2.9 billion. TI Fluid Systems plc is majority
owned by affiliates of and funds advised by Bain Capital, LP.


TIME DEFINITE: Unsecureds Get 20 Quarterly Distributions of $7,500
------------------------------------------------------------------
Time Definite Services, Inc. and Time Definite Leasing, LLC, filed
a Fourth Joint Plan of Reorganization under Chapter 11 of the
Bankruptcy Code proposes to pay creditors of the Debtors.

Class 28 General Unsecured Claimants are impaired. The Debtor will
fund $150,000 to a plan pool.  Claimants in this class will receive
a pro rata distribution on their claim, without interest, in 20
(20) equal quarterly distributions of $7,500, with payments
commencing on the start of the calendar quarter beginning more than
30 days following the Effective Date of Confirmation and continuing
for a total of 20 consecutive quarters.

Class 29 Insider Claims Equity Security Holders of the Debtor are
impaired. Equity will retain ownership in the Debtor
post-confirmation. No distributions will be made to equity or on
insider claims until such time as the Class 28 claimants have been
paid their initial quarterly distributions under the Plan.

The Plan will be funded by: (1) the continued operations of the
Debtors, and (2) a cash infusion from Michael A. Suarez and/or the
other Guarantors. In light of the approval of the settlement with
Chase, the Plan will also be funded by anew lender, Southbound
Enterprises, LLC, that will provide funds, possibly supplemented by
cash on hand and cash infusions, to generate the $2.55 million
necessary to take out Chase.

A full-text copy of the Fourth Joint Plan of Reorganization dated
July 27, 2020, is available at https://tinyurl.com/y4h7r7hyfrom
PacerMonitor.com at no charge.

Attorney for the Debtor:

     Buddy D. Ford, Esquire
     Jonathan A. Semach, Esquire
     Heather M. Reel, Esquire
     BUDDY D. FORD, P.A.
     9301 West Hillsborough Avenue
     Tampa, Florida 33615-3008
     Telephone #: (813) 877-4669
     Office Email: All@tampaesq.com
     E-mail: Buddy@tampaesq.com
     E-mail: Jonathan@tampaesq.com
     E-mail: Heather@tampaesq.com

                  About Time Definite Services

Time Definite Services, Inc., is a provider of refrigerated
trucking and individualized logistics. Its affiliate Time Definite
Leasing LLC provides truck renting and leasing services.

Time Definite Services and Time Definite Leasing filed voluntary
petitions for relief under Chapter 11 of the Bankruptcy Code
(Bankr. M.D. Fla. Lead Case No. 19-06564) on July 12, 2019.  In the
petition signed by Michael Suarez, president, Time Definite
Services disclosed $21,898,781 in assets and $22,555,177 in
liabilities. Judge Michael G. Williamson oversees the case. Buddy
D. Ford, P.A. is the Debtors' counsel.


TMK HAWK: S&P Downgrades ICR to 'CCC'; Outlook Negative
-------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on U.S.-based
food service equipment and supplies (FE&S) distributor TMK Hawk
Parent Corp. (Trimark) to 'CCC' from 'CCC+', its issue-level rating
on the company's first-lien term loan to 'CCC' from 'CCC+', and its
issue-level rating on its second-lien term loan to 'CC' from
'CCC-'. S&P's recovery ratings are unchanged.

Trimark's revenue and profit declined significantly amid the
COVD-19 pandemic, though demand has improved sequentially from the
very depressed level in late March and April.

The downgrade reflects S&P's expectation for elevated leverage and
material negative free cash flow (FCF) and the increased likelihood
that the company could default absent an unforeseen positive
development.  Trimark's sales and profits declined significantly
amid the COVID-19 pandemic and accompanying economic fallout and
lockdown measures. Sales declined in the double-digit percentage
area in the first quarter and almost 50% in the second quarter,
with reported EBITDA in negative territory in each quarter.
Although demand has sequentially improved from the very depressed
level in late March and April, it remains relatively weak, and
there's still a lot of uncertainty around the severity and duration
of the pandemic's impact on the FE&S industry. There could be a
sustained shift in consumer behavior, including more work from home
and less dining out. Industry demand might be impaired for the long
term due to sizable job losses and business closures in both the
restaurant and other industries.

"We expect sales and profits to be down meaningfully in fiscal 2020
compared with pre-coronavirus levels, which will lead to elevated
leverage and material negative FCF. We continue to view the
company's capital structure as unsustainable and believe that the
risk of a near-term default has increased," S&P said.

There is an increasing risk of debt restructuring, but liquidity
should be sufficient to meet current debt service requirements.
Trimark's debt is trading at distressed prices, which S&P believes
presents the potential for a debt restructuring event over the next
12 months. S&P would treat a debt restructuring in which lenders
receive less than originally promised as a default. Under a
scenario in which the company makes debt repurchases meaningfully
below par in conjunction with weak operating performance, S&P could
consider such transactions as constituting a default. S&P estimates
EBITDA to interest coverage is weak, at below 1x. However, with the
possible exception of the need to rebuild working capital
investment, S&P does not expect the company to have a near-term
liquidity constraint given it has about $150 million of liquidity
and no near-term maturity. Its first-lien term loan is due in
August 2024 and its second-lien term loan in August 2025. The
company mentioned that it is currently assessing additional sources
of liquidity. The asset-based lending (ABL) credit agreement has a
springing 1x minimum fixed charge coverage ratio covenant when
excess availability is less than the greater of 10% of the
borrowing base or $10 million. While S&P does not believe Trimark
would meet its 1x fixed charge coverage ratio covenant in the
coming quarters, the rating agency does not expect it will be in
effect.

The negative outlook reflects the potential for a lower rating if a
default, distressed exchange, or redemption appears to be
inevitable within six months.

S&P could lower the ratings if it believed Trimark were likely to
engage in a distressed exchange in the next six months or the
company restructured its debt, whereby lenders would receive less
value than originally promised. S&P could also lower the ratings if
Trimark could not improve revenue and EBITDA performance while at
the same time managing its working capital needs, leading to
sustained negative FCF. This could occur if restrictions on
restaurant capacity, widespread permanent restaurant closures, or
consumer hesitancy to resume consumption of food away from home
continue to hurt sales. This could also occur if infection rates
spiked and led to additional lockdowns, a protracted recession and
high unemployment rates dramatically reduced consumer discretionary
spending on food away from home, or competition escalated.

S&P could take a positive rating action if it believed that a
default were less likely in the next 12 months. This could occur if
the company improved its operating performance while economic
conditions strengthened, leading to positive free cash flow
generation and EBITDA interest coverage approaching the 1.5x area.


TOWN SPORTS: Case Summary & 30 Largest Unsecured Creditors
----------------------------------------------------------
Lead Debtor: Town Sports International, LLC
             399 Executive Blvd.
             Elmsford, NY 10523

Business Description:     Town Sports International, LLC and its
                          subsidiaries are owners and operators of

                          fitness clubs in the United States,
                          particularly in the Northeast and Mid-
                          Atlantic regions.  As of Dec. 31, 2019,
                          the Debtors operated 186 fitness clubs
                          under various brand names, collectively
                          serving approximately 605,000 members as
                          of Dec. 31, 2019.  Visit
http://www.townsportsinternational.com
                          for more information.

Chapter 11 Petition Date: September 14, 2020

Court:                    United States Bankruptcy Court
                          District of Delaware

One hundred sixty-two affiliates that concurrently filed voluntary
petitions for relief under Chapter 11 of the Bankruptcy Code:

  Debtor                                                 Case No.
  ------                                                 --------
  Town Sports International, LLC (Lead Debtor)           20-12168
  TSI Holdings II, LLC                                   20-12167
  TSI-ATC Holdco, LLC                                    20-12169
  TSI - Lucille 38th Avenue, LLC                         20-12170
  TSI - Lucille Austin Street, LLC                       20-12171
  TSI - Lucille Kings Highway, LLC                       20-12172
  TSI - Lucille Valley Stream, LLC                       20-12173
  TSI 30 Broad Street, LLC                               20-12174
  TSI 555 6th Avenue, LLC                                20-12175
  TSI 1231 3rd Avenue, LLC                               20-12176
  TSI Astor Place, LLC                                   20-12177
  TSI Astoria, LLC                                       20-12178
  TSI Avenue A, LLC                                      20-12179
  TSI Bay Ridge, LLC                                     20-12180
  TSI Bayridge 86th Street LLC                           20-12181
  TSI - Alameda, LLC                                     20-12300
  TSI-ATC Alico Mission, LLC                             20-12237
  TSI-ATC Ben Pratt, LLC                                 20-12238
  TSI-ATC Beneva Road, LLC                               20-12239
  TSI-ATC Boyscout, LLC                                  20-12240
  TSI-ATC Cape Coral, LLC                                20-12242
  TSI-ATC Tamiami Trail, LLC                             20-12243
  TSI - Cal. Glendale, LLC                               20-12301
  TSI-HR 13th Street, LLC                                20-12286
  TSI-HR 45th Street, LLC                                20-12289
  TSI-HR 76th Street, LLC                                20-12291
  TSI-HR Whitehall Street, LLC                           20-12292
  TSI - Irvine, LLC                                      20-12303
  TSI - Lucille Clifton, LLC                             20-12265
  TSI - Northridge, LLC                                  20-12298
  TSI - San Jose, LLC                                    20-12302
  TSI - Studio City, LLC                                 20-12304
  TSI - Topanga, LLC                                     20-12307
  TSI - Torrance, LLC                                    20-12305
  TSI - Valencia, LLC                                    20-12306
  TSI - Westlake, LLC                                    20-12325
  TSI Allston, LLC                                       20-12267
  TSI Back Bay, LLC                                      20-12268
  TSI Bayonne, LLC                                       20-12271
  TSI Beacon Street, LLC                                 20-12272
  TSI Boylston, LLC                                      20-12274
  TSI Broadway, LLC                                      20-12182
  TSI Brooklyn Belt, LLC                                 20-12183
  TSI Bulfinch, LLC                                      20-12275
  TSI Butler, LLC                                        20-12277
  TSI Carmel, LLC                                        20-12184
  TSI Cash Management, LLC                               20-12185
  TSI Central Square, LLC                                20-12279
  TSI Clarendon, LLC                                     20-12186
  TSI Clifton LLC                                        20-12281
  TSI Cobble Hill, LLC                                   20-12187
  TSI Colonia, LLC                                       20-12282
  TSI Columbia Heights, LLC                              20-12188
  TSI Commack, LLC                                       20-12189
  TSI Connecticut Avenue, LLC                            20-12190
  TSI Court Street, LLC                                  20-12191
  TSI Croton, LLC                                        20-12192
  TSI Davis Square, LLC                                  20-12193
  TSI Deer Park, LLC                                     20-12193
  TSI Dobbs Ferry, LLC                                   20-12194
  TSI Dorchester, LLC                                    20-12285
  TSI Downtown Crossing, LLC                             20-12287
  TSI Dupont II, Inc.                                    20-12195
  TSI East 23, LLC                                       20-12196
  TSI East 36, LLC                                       20-12197
  TSI East 51, LLC                                       20-12198
  TSI East 76, LLC                                       20-12199
  TSI East 86, LLC                                       20-12200
  TSI East 91, LLC                                       20-12201
  TSI Elite Back Bay, LLC                                20-12288
  TSI Fenway, LLC                                        20-12290
  TSI First Avenue, LLC                                  20-12202
  TSI Forest Hills, LLC                                  20-12203
  TSI Gallery Place, LLC                                 20-12204
  TSI Garden City, LLC                                   20-12205
  TSI Garnerville, LLC                                   20-12206
  TSI Georgetown, LLC                                    20-12207
  TSI Giftco, LLC                                        20-12208
  TSI Glendale, LLC                                      20-12209
  TSI Glover, LLC                                        20-12210
  TSI Grand Central, LLC                                 20-12211
  TSI Greenpoint, LLC                                    20-12212
  TSI Hartsdale, LLC                                     20-12213  
                    
  TSI Hawthorne, LLC                                     20-12214  
                          
  TSI Hicksville, LLC                                    20-12215
  TSI Highpoint, LLC                                     20-12216
  TSI Hoboken North, LLC                                 20-12293
  TSI Hoboken, LLC                                       20-12294
  TSI Holdings (CIP), LLC                                20-12217
  TSI Holdings (DC), LLC                                 20-12218
  TSI Holdings (IP), LLC                                 20-12219
  TSI Holdings (MA), LLC                                 20-12220
  TSI Holdings (MD), LLC                                 20-12221
  TSI Holdings (NJ), LLC                                 20-12222
  TSI Holdings (PA), LLC                                 20-12223
  TSI Holdings (VA), LLC                                 20-12224
  TSI International, Inc.                                20-12241
  TSI Jersey City, LLC                                   20-12295
  TSI Larchmont, LLC                                     20-12225
  TSI Lexington (MA), LLC                                20-12296
  TSI Lincoln, LLC                                       20-12226
  TSI Livingston, LLC                                    20-12297
  TSI Long Beach, LLC                                    20-12227
  TSI Lynnfield, LLC                                     20-12321
  TSI Marlboro, LLC                                      20-12229
  TSI Massapequa, LLC                                    20-12229
  TSI Matawan, LLC                                       20-12323
  TSI Methuen, LLC                                       20-12325
  TSI Morris Park, LLC                                   20-12220
  TSI Murray Hill, LLC                                   20-12231
  TSI Newark, LLC                                        20-12326
  TSI Newton, LLC                                        20-12327
  TSI North Bethesda, LLC                                20-12232
  TSI Oceanside, LLC                                     20-12233
  TSI Peabody, LLC                                       20-12328
  TSI Pine Street, LLC                                   20-12234
  TSI Placentia, LLC                                     20-12299
  TSI Princeton, LLC                                     20-12329
  TSI Providence Eastside, LLC                           20-12235
  TSI Radnor, LLC                                        20-12236
  TSI Ramsey, LLC                                        20-12330
  TSI Rego Park, LLC                                     20-12245
  TSI Ridgewood, LLC                                     20-12331
  TSI Salisbury, LLC                                     20-12332
  TSI Scarsdale, LLC                                     20-12247
  TSI Sheridan, LLC                                      20-12249
  TSI Smithtown, LLC                                     20-12250
  TSI Society Hill, LLC                                  20-12251
  TSI South Bethesda, LLC                                20-12252
  TSI South End, LLC                                     20-12308
  TSI South Park Slope, LLC                              20-12253
  TSI South Station, LLC                                 20-12310
  TSI Springfield, LLC                                   20-12314
  TSI Staten Island, LLC                                 20-12256
  TSI Stoked, LLC                                        20-12258
  TSI Sunnyside, LLC                                     20-12259
  TSI Total Woman Holdco, LLC                            20-12260
  TSI University Management, LLC                         20-12261
  TSI Varick Street, LLC                                 20-12262
  TSI Waltham, LLC                                       20-12316
  TSI Watertown, LLC                                     20-12318
  TSI Wayland, LLC                                       20-12311
  TSI Wellesley, LLC                                     20-12313
  TSI Wellington Circle, LLC                             20-12315
  TSI West 115th, LLC                                    20-12269
  TSI West 125, LLC                                      20-12270
  TSI West 145th Street, LLC                             20-12273
  TSI West 16, LLC                                       20-12244
  TSI West 23, LLC                                       20-12246
  TSI West 38, LLC                                       20-12248
  TSI West 41, LLC                                       20-12254
  TSI West 48, LLC                                       20-12257
  TSI West 73, LLC                                       20-12263
  TSI West 80, LLC                                       20-12264
  TSI West 94, LLC                                       20-12266
  TSI West Hartford, LLC                                 20-12276
  TSI Westboro Tennis, LLC                               20-12317
  TSI Westborough, LLC                                   20-12319
  TSI Westwood, LLC                                      20-12320
  TSI White Plains City Center, LLC                      20-12278
  TSI White Plains, LLC                                  20-12280
  TSI Whitestone, LLC                                    20-12283

Judge:                    Hon. Christopher S. Sontchi

Debtors'
Bankruptcy
Counsel:                  Robert S. Brady, Esq.
                          Sean Greecher, Esq.
                          Jordan E. Sazant, Esq.
                          YOUNG CONAWAY STARGATT & TAYLOR, LLP be,
                          Rodney Square, 1000 North King Street
                          Wilmington, DE 19801
                          Tel: 302-576-3397
                          Fax: 302-571-1253
                          Email: rbrady@ycst.com
                                 sgreecher@ycst.com
                                 jsazant@ycst.com

                            - and -

                          Nicole L. Greenblatt, P.C.
                          Derek I. Hunter, Esq.
                          KIRKLAND & ELLIS LLP,
                          KIRKLAND & ELLIS INTERNATIONAL LLP  
                          601 Lexington Avenue
                          New York, New York 10022
                          Tel: 212-446-4800
                          Fax: 212-446-4900
                          Email: nicole.greenblatt@kirkland.com
                                 derek.hunter@kirkland.com

                             - and -

                          Mark McKane, P.C.
                          KIRKLAND & ELLIS LLP
                          555 California Street
                          San Francisco, CA 94104
                          Tel: (415) 439-1400
                          Fax: (415) 439-1500
                          Email: mark.mckane@kirkland.com

Debtors'
Financial
Advisor &
Investment
Banker:                   HOULIHAN LOKEY, INC.

Debtors'
Claims,
Noticing,
Solicitation and
Balloting
Agent:                    EPIQ CORPORATE RESTRUCTURING, LLC
                          https://dm.epiq11.com/case/tot/info

Estimated Assets
(on a consolidated basis): $500 million to $1 billion

Estimated Liabilities
(on a consolidated basis): $500 million to $1 billion

The petitions were signed by Patrick Walsh, chief executive
officer.

A copy of Town Sports Internatonal's petition is available for free
at PacerMonitor.com at:

https://www.pacermonitor.com/view/RSOLKVQ/Town_Sports_International_LLC__debke-20-12168__0001.0.pdf?mcid=tGE4TAMA

List of Debtors' 30 Largest Unsecured Creditors:

   Entity                          Nature of Claim    Claim Amount
   ------                          ---------------    ------------
1. ABC Realty                         Rent And          $1,255,433
                          
152 West 57th Street,                 Other
12th Floor                            Related
New York, NY 10019                    Amounts
Bill Harra
Tel: (212) 307-0500, Ext. 226
Email: bharra@abcmgmt.net

2. TFG Winter Street                  Rent And          $1,107,516
Property, LLC                         Other
c/o Davis Marcus                      Related
Management, Inc.                      Amounts
125 High Street, Ste 2111
Attn: Kevin Bransfield
Boston, MA
02110-2704
Mark Bush
Tel: (617) 986-6341
Email: mbush@thedaviscompanies.com

Colin C. Macdonald
Tel: (617) 986-6341
Email: cmacdonald@thedaviscompanies.com

3. Babson College                     Rent And          $1,081,644
Attn: Controller,                     Other
Nichols Building                      Related
Babson Park, MA 02157                 Amounts
Steve Gusmini
Tel: 781-239-5697
Email: sgusmini@babson.edu

4. 575 Lex Property                   Rent And            $962,495
Owner, LLC                            Other
PO Box 780236                         Related
Philadelphia, PA                      Amounts
19178-0236
Monica Saavedra-Garcia
Tel: 212-702-9824
Email: Monica.SaavedraGarcia@columbia.reit

5. Con Edison                         Utilities           $948,248
PO Box 1701
New York, NY
10116-1701
Spero Poulimeros
NUS Consulting Group
Tel: 201-391-4300
Email: spoulimeros@nusconsulting.com

6. New Roc Parcel 1A, LLC             Rent And            $945,079
Attn: Aaron Kosakowski                Other
1720 Post Road                        Related
Fairfield, CT 06824                   Amounts
Marcia Nurse-Daniel
Tel: 203-256-4066
Mnurse-daniel@ceruzzi.com

  - and -

Louis Cappelli
Email: louis@icapelli.com

7. Garth Organization                 Rent And            $940,659
161 East 86th Street                  Other
New York, NY 10019                    Related
Daniel Friedland                      Amounts
Tel: 212-586-8800
Email: dan@garthorg.com

8. Trea 350 Washington                Rent And            $935,804
Street LLC                            Other
4400 W 78th St, Suite 200             Related
Attn: Allison Barron                  Amounts
Minneapolis, MN 55435
Chris Daley
Tel: 617 204 1030
Email: Christopher.Daley@cbre.com

9. Related Broadway                   Rent And            $934,504
Development, LLC                      Other
60 Columbus Circle,                   Related
19th Floor                            Amounts
New York, NY 10023
Debbie Bronisevsky
Tel: 917-734-4868
Email: Debbie.Bronisevsky@related.com

10. Larstrand Corp.                   Rent And            $901,870
C/O ZKZ Assoc. -                      Other
Friedland                             Related
500 Park Avenue                       Amounts
New York, NY 10022
Andrea Cardella
Tel: 212-744-3300
Email: ac@friedlandproperties.com

11. Lafayette-Astor                   Rent And            $844,022
Associates LLC                        Other
P.O. Box 432                          Related
Emerson, NJ 07630                     Amounts

Donna Vogel
Tel: 212.431.9416
Email: dsiciliani@gfpre.com;

  - and -

Bibi Husseain
Tel: 212-609-8030
Email: BHusseain@gfpre.com

12. Dobbs Ferry Shopping LLC          Rent And            $802,289
C/O Philips                           Other
International 295                     Related
Madison Avenue, 2nd Floor             Amounts
New York, NY 10017
Maria Lange
Tel: 212.951.3813
Email: mlange@pihc.com

13. Rock Mcgraw , Inc.                Rent And            $771,951
1221 1 Avenue of the Americas         Other
New York, NY 10020                    Related
Jeffrey Kim                           Amounts
Tel: 212 282 2031
Email: jkim@rockefellergroup.com

14. ARE-MA Region No.                 Rent And            $770,926
75, LLC                               Other
PO Box 975383                         Related
Dallas, TX                            Amounts
75397-5383
Shelby McKenney
Tel: 617-500-8703
Email: smckenney@are.com

15. Station Landing III LLC           Rent And            $747,516
2310 1 Washington Street              Other
Newton Lower Falls, MA 02462          Related
Chuck Landry and Jessica Pollack      Amounts
Tel: 617-559-5027
Email: clandry@natdev.com
jpollack@natdev.com

16. Inland Diversified                Rent And            $741,231
Real Estate Services, L.L.C           Other
15961 1 Collections                   Related
Center Drive                          Amounts
Chicago, IL
60693-0139
Jennifer Surber
Tel: 317 713 5656
Email: jsurber@kiterealty.com

17. SCF RC Funding IV LLC             Rent And            $730,018
47 Hulfish                            Other
St, Suite 210                         Related
Princeton, NJ 08542                   Amounts
Claudia Curto
Tel: 609-285-2969
Email: ccurto@essentialproperties.com

18. Imperial Bag & Paper               Trade              $726,621
Company, LLC
255 Route 1 and 9
Jersey City, NJ 07306
Virginia Wotman
Tel: 201-437-7440 ext. 5104
Email: virginia@imperialdade.com

19. 110 BP Property LLC               Rent And            $715,644
64 Beaver St.                         Other
Suite 108                             Related
New York, NY 10004                    Amounts
Jessica Eller
Tel: 212.563.9200, Ext.135
Email: jeller@hidrock.com

20. DC USA Operating Co., LLC         Rent And            $700,013
2309 Frederick                        Other
Douglass Blvd., 2nd Floor             Related
New York, NY 10027                    Amounts
Steven A. Sterneck
Tel: 212-678-4400 ext. 106
Email: ssterneck@gridproperties.com

21. WMAP, LLC                         Rent And            $694,773
C/O The Shops At                      Other
Atlas Park                            Related
P.O. BOX 843383                       Amounts
Los Angeles, CA
90084-3383
Joanna Grace Morrow
Tel: (818) 265-7601
Email: Jmorrow@onni.com

22. Tolleson One, LLC                 Rent And            $682,815
4012 Via Solano                       Other
Palos Verdes Estates,                 Related
CA 90274                              Amounts
Chuck Grace
Tel: 213-388-5416
Email: cgrace@itcelectronics.com

and

Daniel B. Leon, Esq.
Tel: 310-312-3289
Email: dbl@msk.com

23. Yorkville Towers                  Rent And            $678,526
Associates                            Other
1619 Third Ave.                       Related
New York, NY 10128                    Amounts
Diana Bosnjak
Tel: 212.534.7771 x 136
Email: dbosnjak@RYManagement.com

24. 200 Park                          Rent And            $654,398
LP General Post                       Other
Office P.O. Box 27996                 Related
New York, NY 10087                    Amounts
Jean Baptiste David
Tel: 212-867-0750
Email: JDavid@TishmanSpeyer.com

25. Clearbrook Cross LLC              Rent And            $643,808
c/o Robert Martin                     Other
Company, LLC                          Related
100 Clearbrook Road                   Amounts
Elmsford, NU 10523
Customer Service
Tel: 914-592-4800
Email: customerservice@rmcdev.com

26. T-C 501 Boylston                  Rent And            $632,131
Street LLC                            Other
14626 Collections                     Related
Center Drive                          Amounts
Chicago, IL 60693
Devin O'Keeffe
Tel: 617 247 3676
Email: devin.o'keeffe@cbre.com

27. 100 Duffy, LLC                    Rent And            $606,288
102 Duffy Avenue                      Other
Hicksville, NY 11801                  Related
Ana Morgan                            Amounts
Tel: 216-588-7141
Email: Ana.Morgan@mynycb.com

28. George Comfort & Sons, Inc.       Rent And            $586,817
200 Madison Ave,                      Other
26th Floor                            Related
New York, NY 10016                    Amounts
Anita Polczynska
Tel: 212.542.2139
Email: apolczynska@gcomfort.com

29. Club Investors Group, LP          Rent and            $567,894
Attention: Frank Napolitano           Other
640 Spruce Street                     Related
Philadelphia, PA 19106                Amounts
Frank Napolitano
Tel: 215 341-6130
Email: franknapolitanojr@gmail.com;

30. SOF-IX Blueback                   Rent And            $562,152
Square Holdings, L.P.                 Other
P.O. BOX 75762                        Related
Baltimore, MD                         Amounts
21275-5762
Vincent Banda
Tel: 312.242.3184
Email: vbanda@starwoodretail.com


TREESIDE CHARTER: Court Confirms Plan of Reorganization
-------------------------------------------------------
On July 29, 2020, an order confirming Treeside Charter School's
Plan of Reorganization was signed by the Honorable R. Kimball
Mosier, United States Bankruptcy Judge, and duly entered and filed
in the office of the Clerk of the United States Bankruptcy Court
for the District of Utah.

Attorneys for the Debtor:

     George Hofmann
     Cohne Kinghorn, P.C.
     111 East Broadway, 11th Floor
     Salt Lake City, UT 84111
     Telephone: (801) 363-4300
     Facsimile: (801) 363-4378
  
                    About Treeside Charter School

Treeside Charter School sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Utah Case No. 19-28378) on Nov. 12,
2019. At the time of the filing, the Debtor was estimated to have
assets of between $1,000,001 and $10 million and liabilities of the
same range.  The case is assigned to Judge R. Kimball Mosier.
Cohne Kinghorn, P.C., is the Detor's legal counsel. Hashimoto
Forensic Accounting, LLC, is the accountant and financial advisor,
replacing Piercy Bowler Taylor & Kern.


TRIVASCULAR SALES: Committee Says Plan Patently Unconfirmable
-------------------------------------------------------------
The Official Committee of Unsecured Creditors submitted an
objection to debtors Trivascular Sales LLC, et al.'s motion for an
order, inter alia, approving the Disclosure Statement for the
Debtors' Joint Plan of Reorganization.

The Committee points out that the Disclosure Statement fails to
provide adequate information required by Section 1125 of the
Bankruptcy Code:

   * The Disclosure Statement provides inadequate information
regarding retained causes of action.

   * The Disclosure Statement provides inadequate information
regarding claim resolution process.

   * The Disclosure Statement provides inadequate information
regarding the GUC Distribution.

   * The Disclosure Statement provides inadequate information
regarding the Debtors' patents and other intellectual property.

   * The Disclosure Statement provides inadequate disclosure
regarding the Debtors' financial projections, liquidation analysis
and valuation analysis.

   * The Disclosure Statement fails to provide any information
relating to the claims or causes of action the Debtors' estates may
hold against insiders, past and present directors, officers,
consultants, agents or authorized representatives of the debtors.

   * The Disclosure Statement fails to provide any information with
respect to the debtors' decision to pursue the plan or why they
believe it maximizes the value of the debtors' estates.

   * The Disclosure Statement provides inadequate information
regarding the management incentive plan.

The Committee asserts that the approval of the Disclosure Statement
should be denied because the plan is patently unconfirmable:

  -- The Plan contains impermissible releases.

  -- The Plan is not proposed in good faith.

  -- The Plan is not fair and equitable.

Committee asserts that the proposed confirmation hearing is
premature.

Committee's counsel:

     David S. Rosner
     Adam L. Shiff
     Matthew B. Stein
     KASOWITZ BENSON TORRES LLP
     1633 Broadway
     New York, NY 10019
     Telephone: (212) 506-1700
     Facsimile: (212) 506-1800
     E-mail: drosner@kasowitz.com
             ashiff@kasowitz.com
             mstein@kasowitz.com

            - and -

     Louis R. Strubeck (SBT 19425600)
     Ryan E. Manns (SBT 24041391)
     Laura L. Smith (SBT 24066039)
     NORTON ROSE FULBRIGHT US LLP
     2200 Ross Avenue, Suite 3600
     Dallas, Texas 75201-7932
     Telephone: (214) 855-8000
     Facsimile: (214) 855-8200
     E-mail: louis.strubeck@nortonrosefulbright.com
             ryan.manns@nortonrosefulbright.com
             laura.smith@nortonrosefulbright.com

                      About TriVascular Sales

TriVascular Sales, LLC and its affiliates sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. N.D. Tex. Lead Case No.
20-31840) on July 5, 2020. At the time of the filing, TriVascular
Sales had estimated assets of less than $50,000 and liabilities of
between $100 million to $500 million.  Judge Stacey G. Jernigan
oversees the cases.

The Debtors tapped DLA Piper LLP (US) as their legal counsel, and
FTI Consulting, Inc., as their financial advisor. Omni Agent
Solutions is the claims, noticing and administrative agent.

The Office of the U.S. Trustee appointed a committee to represent
unsecured creditors in Debtors' bankruptcy cases.


TRIVASCULAR SALES: Unsec. Creditors to Get $2 Million in Plan
-------------------------------------------------------------
Trivascular Sales LLC, et al., submitted a Second Amended Joint
Plan of Reorganization and a corresponding Disclosure Statement.

As an inducement to unsecured creditors, and in support of the
Debtors' efforts to achieve a consensual plan, lender Deerfield
Partners, L.P. agreed to provide the GUC Distribution Amount.  The
GUC Distribution amount represents a negotiated amount between the
Debtors and Deerfield.

"GUC Distribution Amount" means $2,000,000 in the Second Amended
Plan.

Unsecured creditors are slated to recover 1% or 5% in the Plan.
Class 4 General Unsecured Claims will receive: (i) in the event
that Class 4 votes to accept the Plan,  its pro rata share of the
GUC Distribution Amount; or (ii) in the event that Class 4 votes to
reject the Plan, its pro rata share of 50% of the GUC Distribution
Amount.

A full-text copy of the Disclosure Statement dated August 3, 2020,
is available at https://tinyurl.com/yxlan8b7 from PacerMonitor.com
at no charge.

Proposed Counsel for the Debtors:

     Andrew B. Zollinger
     David E. Avraham
     DLA Piper LLP (US)
     1900 North Pearl Street, Suite 2200
     Dallas, Texas 75201
     Tel: (214) 743-4500
     Fax: (214) 743-4545
     E-mail: andrew.zollinger@us.dlapiper.com
             david.avraham@us.dlapiper.com

     Thomas R. Califano
     DLA Piper LLP (US)
     1251 Avenue of the Americas
     New York, New York 10020
     Tel: (212) 335-4500
     Fax: (212) 335-4501
     Email: thomas.califano@us.dlapiper.com

     Rachel Nanes
     DLA Piper LLP (US)
     200 South Biscayne Boulevard, Suite 2500
     Miami, Florida 33131
     Tel: (305) 423-8563
     Fax: (305) 675-8206
     Email: rachel.nanes@us.dlapiper.com

                    About TriVascular Sales

TriVascular Sales, LLC and its affiliates sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. N.D. Tex. Lead Case No.
20-31840) on July 5, 2020. At the time of the filing, TriVascular
Sales had estimated assets of less than $50,000 and liabilities of
between $100 million to $500 million. Judge Stacey G. Jernigan
oversees the cases.

The Debtors tapped DLA Piper LLP (US) as their legal counsel, and
FTI Consulting, Inc., as their financial advisor. Omni Agent
Solutions is the claims, noticing and administrative agent.

The Office of the U.S. Trustee appointed a committee to represent
unsecured creditors in Debtors' bankruptcy cases.


UNIFIED PROTECTIVE: Unsecureds Will Get 1% of Their Claims
----------------------------------------------------------
Unified Protective Services, Inc., submitted a Plan and a
Disclosure Statement.

Class 4 General Unsecured Claims will recover 1 percent.  

Payments under the Plan will be made out of cash on hand, future
income, sale(s) of property(ies), or other sources of funding,
including supporting calculations.

A full-text copy of the Disclosure Statement dated August 3, 2020,
is available at https://tinyurl.com/yxwktvam from PacerMonitor.com
at no charge.

Attorney for the Debtor:

     Michael Jay Berger
     Sofya Davtyan
     LAW OFFICES OF MICHAEL JAY BERGER
     9454 Wilshire Blvd., 6th floor
     Beverly Hills, CA 90212
     Tel: (310) 271-6223
     Fax: (310) 271-9805
     E-mail: Michael.Berger@bankruptcypower.com
     E-mail: Sofya.Davtyan@bankruptcypower.com

                    About Unified Protective

Unified Protective Services, Inc., is a security guard service
provider in Hawthorne, California.  Its services include day and
night armed or unarmed security, vehicle security patrol, camera
surveillance and executive protection.

On June 1, 2019, Unified Protective Services sought Chapter 11
protection (Bankr. C.D. Cal. Case No. 19-16482).  The Debtor was
estimated to have $500,000 to $1 million in assets and $1 million
to $10 million in liabilities as of the bankruptcy filing. The Hon.
Neil W. Bason is the case judge.  The LAW OFFICES OF MICHAEL JAY
BERGER is the Debtor's counsel.


UNIT CORPORATION:Claims Paid From Cash on Hand, DIP/Exit Facilities
-------------------------------------------------------------------
Unit Corporation, et al., submits this Amended Joint Chapter 11
Plan of Reorganization.

The classification of Claims and Interests against Unit Corp.
pursuant to the Plan is as follows:

   * Class A-3 Unit Corp. RBL Secured Claims. This class is
impaired. Each Holder of an Allowed Unit Corp. RBL Secured Claim
shall receive, on a dollar-for-dollar basis, its Pro Rata share of
the revolving loans, term loans, letter-of-credit participations,
and other fees under the Exit Facility, and each Holder of an
Allowed Unit Corp.

   * Class A-4 Unit Corp. Subordinated Notes Claims. This class is
impaired. Subordinated Notes Claim shall receive, in full and final
satisfaction of such Allowed Unit Corp. Subordinated Notes Claim,
its Pro Rata share of the Unit Corp. Subordinated Notes Equity
Pool.

   * Class A-5 Unit Corp. GUC Claims. This class is impaired. Each
such Holder shall receive its Pro Rata share of the Unit Corp. GUC
Equity Pool; provided, however, that if the Holder of an Allowed
Separation Claim (i) votes to accept the Plan and (ii) elects the
Separation Settlement Opt-In on its Ballot, such Holder will
instead receive on account of its Allowed Separation Claim the
Separation Settlement Treatment applicable to such Holder pursuant
to Article V.G of the Plan.

   * Class A-6 Unit Corp. Intercompany Claims. This class is
impaired. Each Debtor holding a Unit Corp. Intercompany Claim shall
receive its Pro Rata share of the Unit Corp. Intercompany Equity
Pool; however, no Reorganized Unit Corp. Interests will be issued
directly to any Debtor on account of its Class A-6 Unit Corp.
Intercompany Claim and instead, will be issued to (i) Holders of
Subordinated Notes Claims against Debtors that hold Class A-6 Unit
Corp.

   * Class A-7 Section 510(b) Claims against Unit Corp. This class
is impaired. Holders of Class A-7 Section 510(b) Claims shall not
receive any distribution on account of such Section 510(b) Claims.


   * Class A-8 Unit Corp. Interests. This class is impaired. Each
Holder of a Unit Corp. Interest that does not elect the Release
Opt-Out on its Release Opt-Out Form shall receive its Pro Rata
share of the Warrant Package.

The classification of Claims and Interests against UDC pursuant to
the Plan is as follows:

   * Class B-3 UDC RBL Secured Claims. This class is impaired. Each
Holder of an Allowed UDC RBL Secured Claim shall receive, on a
dollar-for-dollar basis, its Pro Rata share of the revolving loans,
term loans, letter-of-credit participations, and other fees under
the Exit Facility, and each Holder of an Allowed UDC RBL Secured
Claim shall upon such conversion become an Exit Facility Lender in
accordance with the terms of the Exit Facility Documents.

   * Class B-4 UDC Subordinated Notes Claims. This class is
impaired. Each Holder of an Allowed UDC Subordinated Notes Claim
shall receive, in full and final satisfaction of such Allowed UDC
Subordinated Notes Claim, its Pro Rata share of the UDC
Subordinated Notes Equity Pool.

   * Class B-6 UDC Intercompany Claims. This class is impaired.
Each Debtor holding a UDC Intercompany Claim shall receive its Pro
Rata share of the UDC Intercompany Equity Pool; however, no
Reorganized Unit Corp. Interests will be issued directly to any
Debtor on account of its Class B-6 UDC Intercompany Claim and
instead, will be issued to Holders of Subordinated Notes Claims
against Debtors that hold Class B-6 UDC Intercompany Claims in
accordance with the Plan.

   * Class B-7 UDC Interests. This class is unimpaired/impaired. No
distribution shall be made on account of any UDC Interests.

The classification of Claims and Interests against UPC pursuant to
the Plan is as follows:

   * Class C-3 UPC RBL Secured Claims. This class is impaired. Each
Holder of an Allowed UPC RBL Secured Claim shall receive, on a
dollar-for-dollar basis, its Pro Rata share of the revolving loans,
term loans, letter-of-credit participations, and other fees under
the Exit Facility, and each Holder of an Allowed UPC RBL Secured
Claim shall upon such conversion become an Exit Facility Lender in
accordance with the terms of the Exit Facility Documents.

   * Class C-4 UPC Subordinated Notes Claims. This class is
impaired. Each Holder of an Allowed UPC Subordinated Notes Claim
shall receive, in full and final satisfaction of such Allowed UPC
Subordinated Notes Claim, its Pro Rata share of the UPC
Subordinated Notes Equity Pool.

   * Class C-5 UPC GUC Claims. This class is impaired. Allowed UPC
GUC Claim agrees to a less favorable treatment, in full and final
satisfaction, compromise, settlement, release, and discharge of
such UPC GUC Claim, Reorganized Unit Corp. shall transfer the UPC
GUC Equity Pool to Reorganized UPC, and in exchange for such UPC
GUC Claim, each such Holder shall receive its Pro Rata share of the
UPC GUC Equity Pool from Reorganized UPC.

   * Class C-6 UPC Intercompany. This class is impaired. Each
Debtor holding a UPC Intercompany Claim shall receive its Pro Rata
share of the UPC Intercompany Equity Pool; however, no Reorganized
Unit Corp. Interests will be issued directly to any Debtor on
account of its Class C-6 UPC Intercompany Claim and instead, will
be issued to (i) Holders of Subordinated Notes Claims against
Debtors that hold Class C-6 UPC Intercompany Claims, or (ii)
Holders of General Unsecured Claims against Debtors that hold Class
C-6 UPC Intercompany Claims (other than UDC), in each case of (i)
and (ii) in accordance with the Plan.

   * Claims Class C-7 UPC Interests. This class is
unimpaired/impaired. No distribution shall be made on account of
any UPC Interests.

The Reorganized Debtors shall fund distributions under the Plan
from Cash on Hand/DIP Facility Borrowings, Exit Facility, and
Issuance and Distribution of Reorganized Unit Corp. Interests.

A full-text copy of the Amended Joint Chapter 11 Plan of
Reorganization dated August 3, 2020, is available at
https://tinyurl.com/y3pyqtl7 from PacerMonitor.com at no charge.

Counsel for the Debtors:

     Harry A. Perrin
     Paul E. Heath
     Matthew J. Pyeatt
     VINSON & ELKINS LLP
     1001 Fannin Street, Suite 2500
     Houston, TX 77002-6760

     David S. Meyer
     Lauren R. Kanzer
     1114 Avenue of the Americas, 32nd Floor
     New York, NY 10036

                    About Unit Corporation

Unit Corporation (NYSE- UNT) (OTC Pink- UNTCQ) --
http://www.unitcorp.com/-- is a Tulsa-based, publicly held energy
company engaged through its subsidiaries in oil and gas
exploration, production, contract drilling and natural gas
gathering and processing.

On May 22, 2020, Unit Corporation and five affiliates sought
Chapter 11 protection (Bankr. S.D. Tex. 20-32740) with a
pre-negotiated plan that reduces debt by $650 million.

Unit Corp. disclosed $2,090,052,000 in assets and $1,034,417,000 in
debt as of Dec. 31, 2019.

Vinson & Elkins L.L.P. is serving as legal advisor, Evercore Group
L.L.C. is serving as investment banker, and Opportune LLP is
serving as restructuring advisor to the Company. Prime Clerk LLC is
the claims agent, maintaining the page
https://cases.primeclerk.com/UnitCorporation

Weil, Gotshal & Manges LLP is serving as legal advisor and
Greenhill & Co., LLC is serving as financial advisor to an ad hoc
group of holders of Subordinated Notes.


UNITED CANVAS: Gets Interim OK to Hire ABTV to Manage Operations
----------------------------------------------------------------
United Canvas & Sling, Inc. and its affiliates received interim
approval from the U.S. Bankruptcy Court for the Western District of
North Carolina to hire ABTV Receivership Services, LLC to oversee
and manage the day-to-day operations of their business.

Edward Sanz and John Fioretti, the firm's personnel expected to
provide the services, charge $500 per hour and $475 per hour,
respectively.

ABTV holds the sum of $7,740 as a retainer.

ABTV neither holds nor represents any interest adverse to Debtors'
estates as disclosed in the court filings.

The firm can be reached through:

     John Fioretti
     ABTV Receivership Services, LLC
     6100 Fairview Road, Suite 565
     Charlotte, NC 28210
     Phone: 704-914-6365
     Email: JFIORETTI@ABTV.COM

                 About United Canvas & Sling Inc.  

United Canvas & Sling, Inc. manufactures sporting and athletic
goods, including sports and fitness equipment.

United Canvas & Sling and two affiliates filed voluntary petitions
for relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D.N.C.
Lead Case No. 20-30781) on Aug. 25, 2020. The petitions were signed
by John Fioretti, representative for receiver.  At the time of
filing, Debtor estimated $1 million to $10 million in both assets
and liabilities.

Judge Laura T. Beyer oversees the case.  Andrew T. Houston, Esq.,
at Moon Wright & Houston, PLLC, is Debtor's legal counsel.


VERNON MEMORIAL HOSPITAL: S&P Alters Outlook to Stable
------------------------------------------------------
S&P Global Ratings revised its outlook to stable from negative and
affirmed its 'BB' long-term rating on the Wisconsin Health and
Educational Facilities Authority's series 2014 hospital revenue
bonds, issued for Vernon Memorial Hospital (VMH).

"The outlook revision reflects some early success of the hospital's
operational turnaround plan that has extended through the COVID-19
pandemic, supporting a return to sound maximum annual debt service
coverage," said S&P Global Ratings credit analyst Wendy Towber. "In
addition, the stable outlook reflects continued balance sheet
strengths and a stable, albeit still limited, enterprise profile
highlighted by the smooth transition to a new chief executive
officer following the retirement of his long-tenured predecessor,"
Ms. Towber added.

S&P believes that the recent technical covenant default reflects
governance risks which are higher than the sector overall. Based on
its conversation with management, S&P believes that the board has
become more engaged since the technical default occurred. S&P also
views VMH's social risk to be elevated compared to its peers, given
that the hospital operates in a very limited service area, with a
population of fewer than 100,000. COVID-19 also exposes VMH to
additional social risks that could result in financial pressure,
particularly should revenue and other federal and state support be
insufficient to cover any potential future lost revenue from the
reduction of non-emergent procedures necessary to safely and
effectively manage the COVID-19 patient demand or to cover the
increased supplies, equipment and personnel costs, should there be
a surge or spike in COVID-19 patients in the future. Finally, S&P
believes environmental risks are in line with the industry as a
whole.

Vernon Memorial Healthcare serves the residents of Vernon County,
Wis., and neighboring Crawford and Monroe counties. It owns and
operates the 25-bed Vernon Memorial Hospital along with three
community-based residential care facilities, four provider-based
rural physician clinics, four retail pharmacies, a home health
agency, and a hospice care facility. In addition, it jointly owns a
medical office building (MOB) with Gunderson Health System.


VIVO ENERGY: S&P Affirms 'BB+' Long-Term Issuer Credit Rating
-------------------------------------------------------------
S&P Global Ratings affirmed its 'BB+' long-term issuer credit
rating on Vivo Energy, and assigned a 'BB+' issue rating to the
$350 million senior unsecured notes proposed by the company, which
plans to use the proceeds to redeem its outstanding term loan
facility due 2022 and keep any surplus cash for general corporate
purposes.

S&P is revising the outlook to negative. This reflects the
deterioration in the macroeconomic outlook and the heightened
uncertainty around Vivo's trading environment over the next 12
months. In particular, regulatory risks, a less benign trading
environment, and the still uncertain development of the COVID-19
pandemic in Africa could lead to a longer period of subdued
profitability and lower earnings.

While Vivo's trading performance suffered a significant but
short-term blow from the COVID-19 pandemic, S&P anticipates a swift
rebound in the second half of the year.  Operations were disrupted
by government-imposed lockdowns in many of its jurisdictions,
leading to a 32% decline in reported EBITDA over the six months
ending June 30, 2020. More importantly, the halt in operations, as
well as about $110 million of trade payables that did not occur in
2019, but instead fell into 2020, led to the working capital
outflow of $167 million in the first half (compared to an outflow
of $105 million during the same period last year), which was
partially funded by additional drawings under the group's local
debt facilities. This led to a spike in its last-twelve-months
(LTM) leverage metrics. S&P anticipates a partial reversal as
trading activity picks up over the second half of the year, with a
recovery in earnings and working capital inflows taking free
operating cash flow (FOCF) toward neutral territory by year-end.
S&P anticipates this recovery trend to continue in 2021, although
it currently does not expect revenues to recover to 2019 levels
until 2022. As a result, and taking into account the group's
substantial fixed charges, S&P does not foresee reported EBITDA
margins recovering to 5% until December 2022.

S&P anticipates a deterioration in Vivo's credit metrics in 2020,
although with clear potential for a progressive recovery in 2021
and 2022.  The rating agency currently forecasts neutral FOCF
generation in 2020, after $167 million in working capital outflows
over the first half of the year. This reflects Vivo's cash-flow
seasonality--it tends to be a lot more cash generative in the
second half of the year--and S&P's expectations for a swift
recovery in topline and earnings, as well as a reduction in capital
expenditure (capex) of about $50 million and about $40 million of
savings from the discontinued dividend. S&P anticipates the group
will continue to adequately manage its exposure to local
currencies, periodically repatriating its operating cash flows to
the parent entity in the Netherlands, where cash is held in U.S.
dollars, euros, and sterling. S&P sees the sound management of
foreign exchange risk as increasingly important because weaker
macroeconomic conditions could raise transfer and convertibility
risks in some of Vivo's countries of operation.

Given the above, S&P anticipates Vivo's credit metrics will
temporarily deteriorate in 2020, with adjusted debt to EBITDA
rising to about 1.3x-1.5x (from 0.8x in 2019) and funds from
operations (FFO) cash interest cover declining to 4.5x-5.0x (6.5x
in 2019).

S&P's current base case is for a return to strong cash generation
in 2021, driven by some normalization in trading--leading to sound
topline and earnings growth, albeit potentially falling short of
2019 levels--and boosted by subsequent working capital inflows. S&P
expects dividend distributions and capex will go hand in hand with
the group's operating performance, and should such a recovery
scenario materialize the rating agency could see Vivo reinstate its
30%-35% dividend payout policy and return to about $150 million
annual capex.

"We anticipate Vivo's FOCF after all lease payments will improve to
about $120 million-$140 million in 2021. We also expect adjusted
leverage to decline to about 0.8x-1.0x, and FFO cash interest
coverage to recover toward 5.0x-5.5x. Our projections are subject
to some uncertainty, and we note that adverse regulatory changes,
weakened demand trends, or heightened margin volatility could lead
to a longer recovery period," S&P said.

"We continue to view Vivo's liquidity position as strong, further
supported by the long-term capital structure and additional
proceeds from the proposed refinancing transaction," the rating
agency said.  

Despite operational disruptions, Vivo maintained a sound liquidity
position during the first half of the year, bolstered by ample
availability under its $300 million RCF due 2023. According to
S&P's calculations, at closing of the proposed refinancing
transaction, the group will have over $280 million in cash balances
at its parent entity, as well as about $180 million available under
its RCF. These, together with S&P's expectations for operating cash
flow generation, will ensure a healthy liquidity position given the
group's capex, working capital, and other liquidity needs over the
next 12 months.

S&P Global Ratings acknowledges a high degree of uncertainty about
the evolution of the coronavirus pandemic. The consensus among
health experts is that the pandemic may now be at, or near, its
peak in some regions but will remain a threat until a vaccine or
effective treatment is widely available, which may not occur until
the second half of 2021.

"We are using this assumption in assessing the economic and credit
implications associated with the pandemic. As the situation
evolves, we will update our assumptions and estimates accordingly,"
the rating agency said.

The COVID-19 pandemic has left sovereigns in Africa and around the
globe with increased deficits and public debt, and business
conditions could deteriorate in some countries as governments look
for ways to redress this.

For instance, over the next 12 months S&P could see increases in
corporate tax rates, changes in regulated prices, or heightened
risks of currency controls for jurisdictions with very high
inflation. This could lead to weaker profitability metrics, lower
earnings and cash flow generation, and potentially increased
difficulty in upstreaming operating cash flows to the parent.

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

-- Health and safety

The negative outlook reflects the possibility of a downgrade over
the next 12 months and stems from the impact of the COVID-19
pandemic on Vivo's trading environment and operating performance.
S&P also sees heightened uncertainty regarding government responses
to the pandemic and economic recession, and the potential effects
on fuel margins and demand, as well as the group's financial
position.

"We could downgrade Vivo if it failed to quickly recover and
stabilize its underlying performance, leading to a longer downturn
in earnings and cash flows than we currently anticipate. This could
lead to FOCF to debt remaining below 25% for longer," S&P said.

"We could also consider a downgrade if Vivo experienced adverse
regulatory changes in multiple countries or a further decline in
Morocco's contribution to earnings, or if the group adopted a more
aggressive financial policy," the rating agency said.

Downward ratings pressure would build if S&P lowered the sovereign
ratings or revised down its assessment of the underlying country
risk in Vivo's main jurisdictions, noting that country risk could
undermine the group's ability to manage currency risk and upstream
cash. Increased sovereign defaults or broader economic and
institutional risks in Vivo's main markets could also lead to a
negative rating action even if immediate credit metrics remain in
line with S&P's current expectations.

"We could revise our outlook back to stable if the group succeeds
in restoring its adjusted EBITDA margin to its historical level of
about 5%, and cash generation supports the sustainable recovery of
FOCF to debt to at least 25%," S&P said.

"A stable outlook would also be contingent on our view of
country-specific risks in Vivo's main geographies, as well as on
Vivo maintaining its strong liquidity position and stable financial
policy," the rating agency said.


WABASH NATIONAL: S&P Lowers ICR to 'B+'; Outlook Stable
-------------------------------------------------------
S&P Global Ratings assigned a 'BB-' issue-level rating and '2'
recovery rating to Lafayette, Indiana-based trailer manufacturer
Wabash National Corp.'s proposed $150 million first-lien term
loan.

S&P is lowering its issuer credit rating on the company to 'B+'
from 'BB-', lowering the existing issue-level rating on the
company's $325 million senior unsecured notes to 'B-' from 'B', and
lowering the issue-level rating on the company's existing senior
secured debt to 'BB-' from 'BB'. The rating agency expects to
withdraw the rating on the company's existing senior secured debt
when the debt is repaid.

S&P expects weak credit metrics in 2020, driven by a decline in
trailer demand this year.   The weakened U.S. economy and the
impact of COVID-19 have exacerbated the previously anticipated
downturn in trailer demand this year. As a result, S&P assumes 2020
revenue will be pressured across all three of Wabash's business
segments. It assumes EBITDA margins will remain at 3%-6% this year,
improving in 2021 as volumes recover. Overall, the rating agency
expects adjusted leverage to remain at about 9x through 2020 and
into 2021 before improving as industry demand rebounds.

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

-- Health and safety

The stable outlook reflects S&P's assumption that revenue and
earnings will improve in 2021 against 2020 levels, as trailer
production and truck body demand increases from weak levels.
Despite elevated debt leverage this year, S&P expects the company
to continue to generate positive FOCF, with debt to EBITDA
approaching 4x in 2021.

"We could lower our rating if debt leverage remains above 5x or if
FOCF to debt remains below 5% for a sustained period. We could also
lower our rating if we believe the company may enter into a
distressed exchange to prevent a covenant breach. We could lower
the rating if the company is unable to increase revenue and
earnings, or reduce debt such that leverage becomes unsustainable
in our view," S&P said.

"We could revise our outlook to positive if end-market conditions
stabilize, the company's leverage declines toward 3x, and FOCF to
debt sustainably increases toward 15%," the rating agency said.


WASTEQUIP LLC: S&P Alters Outlook to Negative, Affirms 'B' ICR
--------------------------------------------------------------
S&P Global Ratings revised its outlook on U.S.-based waste and
recycling equipment manufacturer Wastequip LLC to negative from
stable and affirmed all of its ratings on the company, including
its 'B' issuer credit rating.

S&P believes Wastequip LLC's operating performance and credit
measures could remain weak due to prolonged capital spending
compression at large national waste haulers amid an uncertain
macroeconomic environment.

The negative outlook reflects that S&P could lower its rating on
Wastequip over the next 12 months if weaker-than-expected
end-market demand raises leverage above 6.5x for a sustained
period.

The outlook revision reflects the risk that an overall recessionary
macroeconomic environment will continue delays in capital spending
at large national waste haulers and municipalities.  This would
drop Wastequip's revenue and profitability over the next 12 months
and keep its S&P Global Ratings-adjusted debt-to-EBITDA ratio above
6.5x until the end of 2021. The company's performance in the second
quarter of 2020 notably deteriorated as large national accounts
that represent close to 26% of overall revenues paused capital
spending. This dropped revenues 21% and increased S&P Global
Ratings-adjusted debt to EBITDA to 8.1x as of June 27, 2020 (about
7.5x pro forma for 12 months of prior acquisition EBITDA).
Wastequip's $60 million debt-financed dividend to its sponsor
before the coronavirus pandemic in February further weighs on its
credit measures. S&P believes capital spending at national waste
haulers should recover in early 2021, and that Wastequip's S&P
Global Ratings-adjusted debt-to-EBITDA ratio will be stretched at
around 7x at the end of 2020 before decreasing below 6.5x by the
end of 2021. However, risks around S&P's forecast remain elevated
given macroeconomic uncertainty.

The negative outlook on Wastequip reflects the risk operating
performance will continue to deteriorate over the next 12 months,
lifting S&P Global Ratings-adjusted leverage above 6.5x on a
sustained basis.

S&P could lower its ratings on Wastequip if:

-- Continued weakness in the U.S. waste collection and disposal
market reduces sales volumes and margins further, such that
adjusted debt to EBITDA exceeds 6.5x with limited foreseeable
near-term improvement. S&P estimates this could occur if it expects
Wastequip's sales volume to decline by the mid-single-digit percent
area through 2021.

-- The company pursues debt-funded acquisitions or shareholder
rewards that materially weaken credit metrics on a sustained
basis.

-- Operating inefficiencies keep free operating cash flow
generation negative over the next 12 months.

S&P could revise the outlook on Wastequip back to stable if:

-- The company's operating prospects improve significantly and
adjusted debt to EBITDA declines below 6.5x on a sustained basis.

-- The company and its financial sponsor maintain financial
policies that enable it to sustain these improved credit measures.


WEEKLEY HOMES: S&P Rates New $400MM Senior Unsecured Notes 'BB-'
----------------------------------------------------------------
S&P Global Ratings assigned its 'BB-' issue-level rating and '3'
recovery rating to Weekley Homes LLC and Weekley Finance Corp.'s
proposed $400 million senior unsecured notes due 2028. The '3'
recovery rating indicated its expectation of meaningful (50%-70%;
rounded estimate: 65%) recovery in the event of payment default.
S&P expects the company to use the proceeds from this offering and
cash on hand to fully redeem its senior notes that mature in 2023
and 2025.



WELLS ENTERPRISES: S&P Downgrades ICR to 'B+'; Outlook Stable
-------------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on Iowa-based
ice cream producer Wells Enterprises Inc. (Wells)to 'B+' from
'BB-'. S&P also lowered its issue-level rating on the company's
$510 million senior secured term loan due March 2025 to 'B+' from
'BB-' with an unchanged recovery rating of '3' (reflecting a
rounded estimate recovery of 55% in the event of a payment
default).

The downgrade reflects S&P's expectation for lower profitability
because of higher-than-expected restructuring costs resulting in
weaker credit metrics. Wells' leverage for the 12 months ended June
2020 remained elevated at close to 5.5x, which is well above the
rating agency's expectation for leverage to decline to well below
3.5x in the current fiscal year. The higher leverage reflects
significant costs of more than $30 million related to its
organizational transformation initiatives aimed at improving
operational efficiencies and identifying additional revenue
opportunities. S&P does not add these costs back to EBITDA because
it believes they are related to the company's core operations and
not to a transformative event.

The company expects to achieve more than $60 million in cost
savings and incremental profitability from organizational
transformation initiatives aimed at improving efficiencies in
logistics, manufacturing, procurement, and revenue management among
other areas. If the company achieves its plan, S&P forecasts
leverage could fall closer to 3x. However, the company does not
expect to fully realize benefits from these actions until 2022 and
it could incur additional costs as it progresses through its
turnaround plan.

"We have revised downward our forecast for the company and based on
this revision. We do not expect leverage to decline below 3.5x on a
sustained basis until EBITDA normalizes at a stable run-rate, which
we do not expect to occur until the third quarter of fiscal 2021,"
S&P said.

Operating setbacks, weaker margins during the pandemic, and
execution risk add uncertainty to the company's realization of
targeted profitability from acquisitions. After the company
incurred significant acquisition-related one-time charges in the
fourth quarter of fiscal 2019, the integration of the U.S.-based
assets of Halo Top and the ice cream manufacturing plant located in
Nevada, previously owned by Unilever are progressing well, in S&P's
view, resulting in higher-than-expected contributions to
profitability. However, this is being partially offset by operating
setbacks and decreases in profitability at Fieldbrook Foods, which
has been facing operating disruptions such as elevated absenteeism,
construction project delays, and non-availability of manufacturing
parts and components due to the COVID-19 pandemic at its production
facility located in Dunkirk, N.Y. In addition, the company recently
announced the closure of Fieldbrook Foods' manufacturing facility
located in Lakewood, N.J. and plans to transfer those production
lines to their facilities in Dunkirk and Henderson. This will
result in the company incurring modest one-time production
transition-related charges over the next six to nine months.

The company also incurred higher operating expenses related to
sanitation measures and operating disruptions because of the spread
of COVID-19, including elevated absenteeism rates at its facilities
as employees undertook government-mandated stay-at-home measures.
Strong retail demand from more stay-at-home consumption during the
pandemic also led to low inventory levels during the peak summer
selling season. As a result, the company suffered sales losses
because it could not keep up with the higher demand levels.
Moreover, sales volumes to the foodservice customers declined
significantly, hurting EBITDA and were only partially offset by
increased volumes in the lower-margin retail channel.

S&P expects manufacturing operations to stabilize as the company
executes its turnaround plan and COVID-19 cases become contained
and believe that Wells is on track to realize the targeted cost
savings from these acquisitions by the end of fiscal 2021. However,
there is still a fair bit of execution risk that could further
eclipse the company's true run-rate EBITDA.

S&P expects Wells to make continued investments in marketing and
capital expenditures (capex) as the company integrates and supports
growth of its recent acquisitions. New product introductions and
innovative line extensions have helped Wells' sales growth,
particularly in the novelty segment. The company successfully
launched loaded cones and Bomb Pop Middles and introduced a keto
line of pints under Halo Top while expanding the brand's pops
line-up. The company also launched The Cheesecake Factory pints to
compete in the super-premium segment of packaged ice-cream
category, which is experiencing above-average growth. However,
these portfolio optimization efforts have substantially increased
marketing expenses as the company focused on brand building.

"We expect television, digital, and print advertising to increase
as the company continues to invest in its core brands--Blue Bunny
and Bomb Pop—as well as in the Halo Top brand, which it acquired
in September 2019. We also expect Wells to continue to make
incremental capex as it upgrades acquired manufacturing facilities
and expands overall production capacity," S&P said.

"Moreover, Fieldbrook Foods' manufacturing facilities, acquired in
April 2019, has required additional capital investments to support
large-scale ice-cream production at the desired quality," the
rating agency said.

These initiatives, along with a new manufacturing line expected to
be commissioned at the Henderson facility, which the company
acquired from Unilever in September 2019, will continue to require
operating and capital investments over the coming quarters, which
will pressure the company's free cash flow. After accounting for
annual pro forma interest expense increasing to about $33 million
and dividends remaining in the $16 million-$18 million range, S&P
expects annual discretionary cash flow (DCF) to remain well below
$50 million in 2020, which it views as insufficient to provide
significant capacity for debt repayment.

The stable outlook reflects S&P's expectation for modest sales
growth and significantly lower acquisition- and
transformation-related expenses, enabling Wells to increase EBITDA
and cash flows. Specifically, S&P expects adjusted EBITDA growth of
about 40%-50% over the next two quarters, followed by sustained
high-single-digit percentage growth thereafter and annual DCF
generation of at least $25 million, resulting in leverage declining
to below 4x over the next 12 months.

"We could lower the ratings on Wells if operating performance
deteriorates beyond our expectations leading to leverage sustained
above 5x and annual DCF below $20 million," S&P said.

"This could happen if the company experiences
acquisition-integration missteps, or if the company incurs
significantly higher transformation-related expenses. This could
also occur if the company has difficulty managing its costs
including dairy, packaging, fuel, and freight costs that materially
compress the company's gross margins, possibly by more than 150
basis points," the rating agency said.

S&P could raise the ratings if operating performance improves while
being less acquisitive, leading to adjusted leverage being
sustained in the low-3x area and DCF generation of at least $50
million.

"This could occur if the company successfully implements its
operating plan and steadily grows EBITDA as a result of lower
one-time transformation-related costs and incremental profitability
from recent acquisitions," S&P said.

"This would also be predicated on our belief that the company will
not pursue additional sizable debt-financed acquisitions and
demonstrates a commitment to operating closer to its target
leverage on a more sustained basis," the rating agency said.


WHEEL PROS: Moody's Alters Outlook on B3 CFR to Stable
------------------------------------------------------
Moody's Investors Service affirmed the ratings of Wheel Pros, Inc.,
including the corporate family rating (CFR) at B3, probability of
default rating (PDR) at B3-PD, and the senior secured first lien
and second lien term loans at B2 and Caa2, respectively. The rating
outlook has been changed to stable from negative.

The ratings affirmation and outlook change to stable reflect
Moody's expectation that Wheel Pros stronger-than-expected
performance in 2020 provides the company with adequate protection
in its leverage and cash flow metrics to withstand a likely
tapering off of demand into 2021.

Affirmations:

ssuer: Wheel Pros, Inc.

Probability of Default Rating, Affirmed B3-PD

Corporate Family Rating, Affirmed B3

Senior Secured 1st Lien Bank Credit Facility, Affirmed B2 (LGD3)

Senior Secured 2nd Lien Bank Credit Facility, Affirmed Caa2 (LGD5)

Outlook Actions:

Issuer: Wheel Pros, Inc.

Outlook, Changed to Stable from Negative

RATINGS RATIONALE

Wheel Pros ratings, including the B3 CFR, reflect the company's
high leverage, discretionary nature of its products of custom
vehicle wheels, and elevated event risk for debt-funded
acquisitions. Wheel Pros does maintain a leading market position
with strong brand presence in its wheel products, a flexible cost
structure and low capital requirements, and favorable customer
diversification.

The company's operating performance for 2020 will be stronger than
anticipated earlier in the year as Moody's believes stay-at-home
orders, government stimulus and limited options for other
discretionary spend have spurred demand in 2020. Moody's believes
demand for Wheel Pros products will slow in 2021, and demand still
remains vulnerable to prolonged levels of high unemployment given
the discretionary nature of the product. In the event of a demand
pullback, Moody's expects the company to maintain an EBITA margin
in the mid-teens range as the company realizes certain cost
synergies from its 2019 acquisition of Mobile Hi-Tech Wheels
(MHT).

From a corporate governance perspective, the company's high
leverage partly reflects its private equity ownership. Event risk
is high considering Wheel Pros aggressive pace of acquisitions over
recent years, with transactions funded primarily with debt. Moody's
expects Wheel Pros to remain opportunistic in expanding through
acquisitions, thus leaving leverage vulnerable to be elevated above
6x debt/EBITDA.

The stable outlook reflects Moody's view that Wheel Pros will
maintain EBITA margins in the mid-teens range and generate
moderately positive free cash flow to support an adequate liquidity
profile should demand decrease in 2021.

Wheel Pros is expected to maintain an adequate liquidity profile
into 2021. Moody's expects Wheel Pros to maintain positive free
cash flow of at least $30 million through strong earnings growth
and prudent working capital management. The company's cash flows
are subject to seasonality, with the first quarter typically a
period of cash burn, which has resulted in moderate use of its $60
million asset-based lending facility ("ABL") to support working
capital swings. Wheel Pros utilized the unexpectedly strong cash
generation during 2Q 2020 to fully pay down its ABL and to repay
approximately $19 million of its first lien term loan. Moody's
expects Wheel Pros ABL to remain fully available in the near-term,
and the company does not face any significant debt maturities until
the ABL comes due in 2023.

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

Wheel Pro ratings could be upgraded if the company demonstrates a
financial policy that supports debt/EBITDA sustained below 5.5x
even when considering its acquisition growth strategy, and retained
cash flow-to-debt maintained above 10%. Consistently positive free
cash flow generation and maintaining an adequate liquidity profile
would also reflect for consideration of an upgrade.

The ratings could be downgraded if Wheel Pros liquidity position
deteriorates due to an inability to generate positive free cash
flow or ongoing reliance on its ABL to fund operations. A downgrade
could also result if Moody's expects that Wheel Pros leverage
profile will be sustained above 7x debt/EBITDA either through a
decline in earnings or resumption of debt-funded acquisition
activity.

Wheel Pros, headquartered in Greenwood Village, Colorado, is a
wholesale distributor of custom and proprietary branded wheels,
performance tires and related accessories in the aftermarket
automotive segment. The company is majority-owned by private equity
financial sponsor Clearlake Capital Group, L.P. Management reported
revenue for the twelve months ending June 30, 2020 of approximately
$792 million.

The principal methodology used in these ratings was Automotive
Supplier Methodology published in January 2020.


YUM! BRANDS: S&P Rates New $1.05BB Senior Unsecured Notes 'B+'
--------------------------------------------------------------
S&P Global Ratings assigned its 'B+' issue-level rating and '6'
recovery rating to restaurant company Yum! Brand Inc.'s proposed
new $1.05 billion senior unsecured notes due 2031. The '6' recovery
rating indicated S&P's expectation for negligible recovery to
lenders (0%-10%; rounded estimate: 0%) in the event of default. The
company will draw the offering from its shelf registration
statement filed on Aug. 24, 2020. S&P expects the company will use
the net proceeds and cash on hand to redeem the outstanding 5%
$1.05 billion senior unsecured notes due 2024 issued by Yum's
subsidiaries (KFC Holding Co., Pizza Hut Holdings, LLC and Taco
Bell of America, LLC).

S&P sees improved recovery prospects for the remaining subsidiary
senior notes because the proposed parent notes are structurally
subordinated. Therefore, S&P revised the recovery rating on the
subsidiary senior notes to '3' from '4', indicating its belief that
lenders would realize meaningful recovery (50%-70%; rounded
estimate: 65%) in the event of a default. The 'BB' issue-level
ratings are unchanged. In its simulated default scenario, S&P
assumes Yum would add priority or secured facilities to the capital
structure on the path to default. This assumption leads S&P to cap
its recovery expectations at '3' for the subsidiary senior
unsecured notes.

S&P's 'BB' issuer credit rating on Yum reflects its strong
competitive position as the world's largest restaurant company (by
units) and its highly franchised, asset-light business model that
generated over $52 billion in system sales as of fiscal year 2019.
The rating also incorporates S&P's view of the company's aggressive
financial policy, with a stated leverage target of 5x. S&P
continues to believe Yum's QSR format and franchised business model
position it to weather the challenges of COVID-19 better than most
restaurant companies. It expects operating performance trends will
demonstrate sequential improvement in the second half of the year
and leverage will remain below 6x on a sustained basis.


                            *********

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