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

              Friday, September 18, 2020, Vol. 24, No. 261

                            Headlines

1400 NORTHSIDE: Lewis Buying Jones' Fairmount Property for $3M Cash
1400 NORTHSIDE: Quantum Buying Fairmount Property for $795K Cash
24 HOUR FITNESS: Floats $9-Mil. Bonuses for Senior Managers
84 ALBANY: Incorporated Village Buying Freeport Property for $990K
950 MEAT & GROCERY: Market Food Buying Patterson Property Sublease

ADAMIS PHARMACEUTICALS: Amends Loan Agreement with Arvest Bank
AIMBRIDGE ACQUISITION: S&P Rates New First-Lien Term Loan 'CCC+'
AIMBRIDGE HOSPITALITY: Moody's Rates Planned $150MM Term Loan 'B3'
AKORN INC: Balks at Rival Fresenius to Reclassify Damage Claims
ALPHA ENTERTAINMENT: The Rock's Group Pays $15 Million for Assets

ALPHA ENTERTAINMENT: Univ. of Houston Wants to Get $800K+ from Sal
AND INK 1: Seeks Court Approval to Hire Oliver Smith Realty
ANDREW C. WALKER: ABC Builders Buying Madison Property for $489K
ANGELITA S. WILLIAMS: Liu Buying Berkeley Home for $1.41 Million
APPLIED DNA: Provides Update on Potential SARS-CoV-2 Vaccine

AVID BIOSERVICES: Posts $4.7 Million Net Income in First Quarter
AVID BIOSERVICES: To Hold a Virtual-Only Annual Meeting on Oct. 20
AVISON YOUNG: S&P Lowers Senior Secured Term Loan Rating to 'B-'
BENEVIS LLC: Files for Chapter 11 to Sell Business
BHF CHICAGO: Sets Bidding Procedures for Substantially All Assets

BJ SERVICES: Committee Taps Raymond James as Financial Advisor
BONAVISTA ENERGY: Egan-Jones Withdraws CC Sr. Unsec. Debt Ratings
BOYCE HYDRO: Blames Residents & Regulators for Bankruptcy
BROWNIE'S MARINE: Incurs $414K Net Loss in Second Quarter
CALFRAC WELL SERVICES: Rejects Competing Offer From Wilks Brothers

CAMBER ENERGY: Files Amended Form S-4 to Address SEC Comments
CAMELOT UK: S&P Affirms 'B' ICR on Announced Financing
CARSON CREEK: Seeks to Hire Hajjar Peters as Legal Counsel
COMCAR INDUSTRIES: TFI Acquires CCC for $6.8 Million
DATABASEUSA.COM LLC: Wins Suit Against Spahmhaus Project

Davis Wright Tremaine LLP: An Overview of the SBR Act
DEMLOW PRODUCTS: Proposes a Wilson Auction of Remaining Inventory
DESTINATION HOPE: Seeks to Hire Wernick Law as Legal Counsel
DIAMOND OFFSHORE: Loews Writes $957M Investment Loss
ENDICOTT MEATS: Oct. 19 Auction of All Assets Set

ENERGIZER HOLDINGS: Moody's Rates New $800MM Sr. Unsec. Notes 'B2'
ENERGIZER HOLDINGS: S&P Rates $800MM Senior Unsecured Notes 'B+'
ESCONDIDO HOLDINGS: Resource Capital Buying Yuma Property for $540K
EXPRESSJET AIRLINES: Loses UAL; To Cease Flying by Sept. 30
FAIRWAY MARKET: Bogopa's Food Bazaar Has Bought 3 Locations

FIELDWOOD ENERGY: Gets Court Approval for $100M DIP Loan
FIELDWOOD ENERGY: Has Second Bankruptcy in Two Years
FITZ LAW GROUP: Seeks to Hire Paul C. Sheils as Legal Counsel
FR TNT HOLDINGS: Wants to Avoid Bankruptcy by Debt-Equity Swap
GAMESTOP CORP: S&P Affirms B- Issuer Credit Rating; Outlook Stable

GAP INC: Egan-Jones Cuts Sr. Unsecured Debt Ratings to CCC+
GDS EXPRESS: Reliable Buying Volvo Trucks & 85 Roll Boxes for $139K
GLOBAL MEDICAL: Moody's Rates Senior Secured Debt 'B1'
GOLDEN GATE EMPLOYMENT: Case Summary & 12 Unsecured Creditors
GOLDEN GATE HOLDING: Case Summary & 11 Unsecured Creditors

GOURDOUGH'S HOLDINGS: Seeks to Hire Rachel M. Morgan as Accountant
GROWLIFE INC: Faces Lawsuit Over 2018 Sale Agreement
GRUPO FAMSA: Mexican Proceedings Recognized as Main Proceedings
GTT COMMUNICATIONS: Gets Default Notice Over Late SEC Report Filing
GTT COMMUNICATIONS: Moody's Cuts CFR to B3 & PDR to B3-PD

GTT COMMUNICATIONS: Terminates Fraser as SVP & Corporate Controller
HERITAGE RESIDENTIAL: Seeks Court Approval to Hire Bookkeeper
HERTZ GLOBAL: Need to Offload About 200,000 Cars by December 2020
IQOR US: Moody's Cuts PDR to D-PD on Bankruptcy Filing
J. CREW: Full-Scale Lien Fight of Creditors Erupts

J.C. PENNEY CORP: First-Ever Store Up for Auction
J.C. PENNEY: Seeks Court Approval for $47.7M 'KERP' Payments
JAMES H. G. NAISBY: $1.83M Sale of Long Beach Twp. Property Okayed
JONATHAN S. RESNICK: Trustee Taps Nicole Testa as Special Counsel
KLAUSNER LUMBER: Binderholz Wins Auction for Assets

KOHL'S CORP: Egan-Jones Cuts Sr. Unsecured Debt Ratings to BB-
L BRANDS: S&P Rates $750MM Senior Unsecured Guaranteed Notes 'B+'
LAKELAND TOURS: Court OKs WorldStrides' $368M Chapter 11 Financing
LAS VEGAS MONORAIL: Sets Bidding Procedures for All Assets
LATAM AIRLINES: Has Laid Off 12,600 Employees Since March

LORD & TAYLOR: Holds Going Out of Business Sales at All 38 Stores
MALLINCKRODT INC: May File for Bankruptcy Protection
MARSHALL BROADCASTING: Plan Exclusivity Extended Thru Sept. 30
METAL PARTNERS: Seeks to Hire AbitOs PLLC as Tax Accountant
MIA & ASSOCIATES: Seeks to Hire Norris and Associates as Accountant

MICHAEL P. CRYAN: Wife Selling Amherst Property to Reeds for $198K
MOOD MEDIA: Emerges From Chapter 11 Bankruptcy
MOTORS LIQUIDATION: Irwin Not Required to Pay Interest to Clement
MUJI USA: Closes All Seven Stores in California
NEVADA STATE COLLEGE: S&P Cuts 2019 Revenue Bond Ratings to 'BB-'

NEW HOPE: Moody's Gives Ba2 Ratings on Series 2020A & 2020B Bonds
NFP CORP: Moody's Affirms B3 Corp. Family Rating, Outlook Stable
NSHE CA BULLS: Gets Approval to Hire 3C Advisors as Consultant
NSHE CA BULLS: Taps Anderson Appraisal as Consultant
PACIFIC ADDICTION: Case Summary & 10 Unsecured Creditors

PACIFIC DRILLING: Mulls Chapter 11 Filing, In Talks With Creditors
PG&E CORP: S&P Alters Outlook to Negative, Affirms 'BB-' ICR
PRYSM INC: To Split Apart in Bankruptcy
PURDUE PHARMA: DoJ Asserts Claims for $11 Billion in Penalties
QUANTA INC: March 31 Quarter Results Cast Going Concern Doubt

RECORDS CENTRAL: Seeks Approval to Hire Bankruptcy Attorney
RECRUITER.COM GROUP: Has $2.5M Net Loss for the March 31 Quarter
RED ROBIN: Discloses Substantial Doubt on Staying as Going Concern
RED VENTURES: Fitch Affirms B+ LongTerm IDR, Outlook Stable
REMINGTON OUTDOOR: Opposes Retirees' Bid for Formal Committee

REYNOLDS GROUP: Moody's Gives B2 CFR, Outlook Stable
ROBERT J. AMBRUSTER: Gets Interim Approval to Hire Legal Counsel
ROBERT J. AMBRUSTER: Taps Pace Properties as Real Estate Broker
ROSEHILL RESOURCES: Has $230.3M Net Loss for the March 31 Quarter
RTW RETAILWINDS: COVID-19 Impact Casts Going Concern Doubt

RUBIE'S COSTUME: Finds Buyer; Sale Hearing Sept. 23
SABLE PERMIAN: Seeks to Hire Jenner & Block as Special Counsel
SAEXPLORATION HOLDINGS: Taps Winter Harbor as Financial Advisor
SCWORX CORP: Operating Losses Cast Substantial Going Concern Doubt
SENTINL INC: Gets Approval to Hire Rabbaig and Haque as Accountant

SHIFTPIXY INC: Reports $73.2-Mil. Net Loss for the May 31 Quarter
SM ENERGY: Submits for Recordation a Second Lien Deed of Trust
SOCAL ADDICTION: Case Summary & 9 Unsecured Creditors
STEVEN DEPASQUALE: Kowaski Offers $310K for West Warwick Property
SUGAR FACTORY: Miami SF Buying Assets for $400K

SUSTAINABLE RESTAURANT: Taps Omni as Administrative Agent
TAILORED BRANDS: Jos A. Bank to Close Lincoln, NE Location
TAKATA USA: SynTec Sold to IMMI for Undisclosed Price
TAYLOR BUILDING: Adjudication of $6.5K Sale of Forklift Transferred
TM HEALTHCARE: Case Summary & 13 Unsecured Creditors

TODD BRENT STEPHENSON: $12K Sale of Trailer to Ebbert Approved
TRANSOCEAN LTD: Disputes PIMCO, Whitebox Notice of Default
TREATMENT MANAGEMENT: Case Summary & 20 Top Unsecured Creditors
ULTRA PETROLEUM: Successfully Emerges from Chapter 11 Bankruptcy
V GARGUILO ENTERPRISES: Seeks Court Approval to Hire Accountant

V.S. INVESTMENT: Selling Seattle Property for $750K
VIPC HOLDINGS: Proposes a Sale of Assets for $701K Cash
VIVUS INC: 4 Equity Holders Halt Approval of Icahn Plan
WADE PARK: Taps Caplan Cobb as Special Litigation Counsel
WADE PARK: Taps McCathern PLLC as Special Litigation Counsel

WALDEN PALMS: Response to Sale of 4 Orlando Condo Units Due Oct. 9
WELLNESS COUNSELING: Case Summary & 20 Largest Unsecured Creditors
WEST COAST RECOVERY: Case Summary & 20 Largest Unsecured Creditors
WEST COAST WELLNESS: Case Summary & 20 Largest Unsecured Creditors
WESTMORELAND COAL: Coal Act Obligs. Can be Modified in Bankruptcy

WILTON ARMETALE: Creditor Has Standing for Post-Bankruptcy Claims
WOODBINE FAMILY: Case Summary & 8 Unsecured Creditors
WOODS ELECTRIC: Seeks to Hire Altmann Law Firm as Legal Counsel
[*] 12 Companies That Paid Executives Millions Despite Woes
[*] Commercial Bankruptcies Rose 52% in July

[*] Virus To Economic Shutdown To Bankruptcy? Be Prepared
[^] BOOK REVIEW: The Rise and Fall of the Conglomerate Kings

                            *********

1400 NORTHSIDE: Lewis Buying Jones' Fairmount Property for $3M Cash
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Cummins Beveridge Jones, II, an affiliate of 1400 Northside Drive,
Inc., asks the U.S. Bankruptcy Court for the Northern District of
Georgia to authorize the sale of approximately 785 acres of land
located in Pickens County, Georgia, and known as 1150 Young Loop
Road, Fairmount, Georgia, to Jason Lewis and/or his assigns for $3
million, cash.

Movant Cummins owns several pieces of real estate containing
significant equity, including but not limited to the Property.  He
desires to liquidate some or all of his properties in order to
generate funds with which to pay his creditors.  With regard to the
Motion, he owns the Property.  The Debtor has listed the value of
the Property in his bankruptcy schedules at $2.5 million.  In
connection with its secured mortgage on the Property, Century Bank
of Georgia filed Proof of Claim No. 4 on June 24, 2019 showing a
claim in the amount of $662,500.

The Land Purchase and Sale Agreement by and between the Movant and
the Buyer with a Binding Agreement Date of April 30, 2020, as
amended May 20, 2020, is subject to Court approval.  The gross
purchase price is $3 million cash at closing.  The Movant will pay
a commission at closing equal to 6% of the gross sales price, or
$180,000 to the Seller's real estate broker Atlanta Fine Homes
Sothebys International.  Non-refundable earnest money is due in the
amount of $50,000 to be held in escrow by the Movant's bankruptcy
counsel, with said earnest money to be paid in five consecutive
monthly installments of $10,000 each beginning July 1, 2020.  

A controlling survey of the Property will be obtained by Buyer and
paid for by Buyer.  The closing will occur by Dec. 1, 2020.  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 listed the Property post-petition with real estate
broker Atlanta Fine Homes Sothebys International.  The Sale
Contract represents the best offer that has been obtained and the
Movant submits that it is a fair and reasonable offer.

The Movant further asks authority to pay the Sales Proceeds at
Closing as follows:

     a. All usual and customary closing costs and pro-rations at
Closing as reflected in the Sale Contract;

     b. The mortgage payoff to Century Bank of Georgia in the
approximate amount of $662,500;

     c. Any ad valorem property taxes that may be due to the
Pickens County Tax Commissioner; and

     d. A real estate commission in the amount of 6% of the gross
sales price, or $180,000.

The remaining net sales proceeds will be deposited into the
Debtor's DIP checking account.

The Movant asks that Federal Rule of Bankruptcy Procedure 6004(g)
be waived so that he may immediately implement and enforce any
Order approving the Motion upon its entry with the Clerk of Court.

A copy of the Contract is available at https://tinyurl.com/y6nv4xzu
from PacerMonitor.com free of charge.   
     
                  About 1400 Northside Drive

1400 Northside Drive, Inc., owner of a male strip club known as
Swinging Richards, filed a voluntary Chapter 11 petition (Bankr.
N.D. Ga. Case No. 19-56846) on May 2, 2019. The case is jointly
administered with the Chapter 11 case filed by Cummins Beveridge
Jones II (Bankr. N.D. Ga. Case No. 19-20853), the Debtor's chief
executive officer and chief financial officer.  

At the time of the filing, 1400 Northside Drive was estimated to
have $50,000 to $100,000 in assets and $1 million to $10 million in
liabilities.

Judge James R. Sacca oversees the case. Paul Reece Marr, P.C., is
the Debtor's legal counsel.



1400 NORTHSIDE: Quantum Buying Fairmount Property for $795K Cash
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Cummins Beveridge Jones, II, an affiliate of 1400 Northside Drive,
Inc., asks the U.S. Bankruptcy Court for the Northern District of
Georgia to authorize the sale of his residence located in Pickens
County, Georgia having an address of 8570 Henderson Mountain Road,
Fairmount, Georgia, to Quantum Enterprises, LLC - Keiyana Ware
and/or assigns for $795,000, cash.

Movant Cummins owns several pieces of real estate containing
significant equity, including but not limited to the Property.  He
desires to liquidate some or all of his properties in order to
generate funds with which to pay his creditors.  With regard to the
Motion, he owns the Property.  The Debtor has listed the value of
the Property in his bankruptcy schedules at $1.1 million.

Wells Fargo Home Mortgage, Inc. holds the first mortgage claim on
Property in the approximate amount of $238,458 and Brand Mortgage
Group holds a second mortgage claim on the Property in the
approximate amount of $49,689.

The Purchase and Sale Agreement with an Offer Date of Sept. 1, 2020
as amended by a Counteroffer with a Binding Agreement Date of Sept.
4, 2020, is subject to Court approval.  The gross purchase price is
$795,000 cash at closing.  There is a financing contingency.  The
Movant will pay a commission at closing equal to 6% of the gross
sales price, or $47,700, $23,850 of which will be paid at closing
to 515 Life Real Estate Co., LLC representing him as listing broker
and $23,850 of which will be paid at closing to real estate broker
Coldwell Banker Realty representing the Buyer.  Earnest money in
the amount of $10,000 has been paid to closing attorneys Weissman
Law Firm.  The closing is to occur Oct. 16, 2020.

The Movant has listed the Property post-petition.  The Sale
Agreement represents the highest and best offer that has been
presented and the Movant submits that it is a fair and reasonable
offer.

The Movant asks entry of an Order authorizing the Movant to
consummate the closing of the sale of the Property to the Buyer
pursuant to the terms of the Sale Agreement.  The sale is to be
conducted free and clear of all liens, claims, encumbrances and
interests, with all liens, claims, encumbrances and interests to
attach to the proceeds of the sale.

The Movant further asks authority to pay the Sales Proceeds at
Closing as follows:

     a. All usual and customary closing costs and pro-rations at
Closing as reflected in the Sale Contract;

     b. The 1ct mortgage payoff to Wells Fargo Home Mortgage, Inc.,
or its loan servicer Specialized Loan Servicing, LLC, in the
approximate amount of $238,458;

     c. The 2nd mortgage payoff to Brand Mortgage Group in the
approximate amount of $49,689; and

     d. Any ad valorem property taxes that may be due to the
Pickens County Tax Commissioner; and

     e. A real estate commission equal to 6% ofthe gross sales
price, or $47,700, $23,850 of which will be paid at closing to 515
Life Real Estate representing the Movant as listing broker and
$23,850 of which will be paid at closing to real estate broker
Coldwell banker Realty representing the Buyer.

The remaining net sales proceeds will be deposited into the
Debtor's DIP checking account.

The Movant asks that Federal Rule of Bankruptcy Procedure 6004(g)
be waived so that he may immediately implement and enforce any
Order approving the Motion upon its entry with the Clerk of Court.

A copy of the Contract is available at https://tinyurl.com/y5wgwj8w
from PacerMonitor.com free of charge.   
     
                 About 1400 Northside Drive

1400 Northside Drive, Inc., owner of a male strip club known as
Swinging Richards, filed a voluntary Chapter 11 petition (Bankr.
N.D. Ga. Case No. 19-56846) on May 2, 2019. The case is jointly
administered with the Chapter 11 case filed by Cummins Beveridge
Jones II (Bankr. N.D. Ga. Case No. 19-20853), the Debtor's chief
executive officer and chief financial officer.  At the time of the
filing, 1400 Northside Drive was estimated to have $50,000 to
$100,000 in assets and $1 million to $10 million in liabilities.
Judge James R. Sacca oversees the case. Paul Reece Marr, P.C., is
the Debtor's legal counsel.


24 HOUR FITNESS: Floats $9-Mil. Bonuses for Senior Managers
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Law360 reports that gym chain 24 Hour Fitness told the Delaware
bankruptcy court Wednesday, August 5, 2020, it is seeking to pay 22
of its senior managers up to roughly $9 million in bonuses if
certain performance benchmarks are met as the company moves forward
with what has been a strife-ridden Chapter 11.  In court filings
submitted to U. S. Bankruptcy Judge Karen B. Owens, 24 Hour Fitness
said it is seeking approval of a key employee incentive plan on an
expedited basis so it can incentivize the managers to achieve key
performance goals for the rest of the year.

                    About 24 Hour Fitness

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

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

The Hon. Karen B. Owens is the case judge.

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


84 ALBANY: Incorporated Village Buying Freeport Property for $990K
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84 Albany Ave. Realty Corp. asks the U.S. Bankruptcy Court for the
Eastern District of New York to authorize the sale of the real
property located at 80-84 Albany Avenue, Freeport, New York to
Incorporated Village of Freeport for $990,000.

The Debtor owns the Property fee simple.  It desires to sell the
Property so that it can propose a structured dismissal or confirm a
chapter 11 plan and pay substantially all of its debt.  

The Debtor hired Daniel Parente, Esq., a real estate attorney, to
negotiate the sale of the Property and the order as to retention
was entered on July 10, 2020.  Prior to the bankruptcy case filing,
the Property was previously in contract to be sold for $1.050
million the Debtor's Real Estate Attorney.  The Debtor was unable
to complete the sale and there were no other viable offers.  

Thereafter, an offer of $990,000 was received, which Debtor
believes is the highest and best offer the Debtor is likely to
receive.  The Contract of Sale, signed on June 3, 2020, represents
the best legitimate purchase price offered.  The parties intend to
schedule a closing date pending approval by the Court of the sale,
on Oct. 8, 2020.
The balance, subject to any closing adjustments, will be paid by
the Purchaser via certified funds or the equivalent at closing.
The sale wil be free and clear of any and all liens, claims or
encumbrances, with such liens and liabilities to attach to the
proceeds of the sale of the Property.

The Debtor's Real Rstate Attorney is holding an escrow deposit of
approximately $105,000 in his escrow account from the previous
sale, as was disclosed in the affidavit accompanying his retention
application.  The Debtor will cause an adversary to be commenced to
turn over the deposit to the Debtor.  

Sterling National Bank. (“Secured Lender”) holds a first
mortgage on the Property in the approximate amount of $555,000.  A
payoff letter has been requested from Secured Lender.  Based on the
sale price, the Secured Lender will be paid in full at the closing
of the Sale.  

There are also tax liens on the property in the approximate amount
of $250,000 to be paid at closing.  A payoff letter has been
requested from the owners of the tax liens.  Based on the sale
price it is expected that, the lienholders will be paid in full at
the closing of the Sale.  

In addition, there are professional fees (a) payable to Real Estate
Attorney; and (b) up to $15,000 to general bankruptcy counsel for
fees for legal services and expenses directly related to the sale
for which a fee application will be provided to the Court by
separate application.   

Any additional proceeds of the sale, if any, will be deposited in
the Debtor's DIP account, for the benefit of the bankruptcy estate.


The Debtor proposes to distribute the proceeds of the sale, in the
total amount of $990,000 as follows:  

      a. Reserve in escrow payment for the Real Estate Attorney for
fee that will be subject to further fee application.

      b. Legal fees up to $15,000 for the legal services directly
rendered in furtherance of the sale to be held in attorney's escrow
account pending Court approval of a fee applications.

      c. The U.S. Trustee's fee in the amount of $4,875 which
covers the amount payable due to the sale.    

      d. Such other customary and reasonable fees associated with
the transfer and closing of the sale of the Property, as well as
reasonable adjustments in the sales price for pro-rations,
inspections, or other similar items necessary to accommodate a
closing.

Then, next to:  

      e. The Sterling National Bank, the Secured Lender to the
extent it is deemed to have an allowed secured claim in an amount
of approximately $555,055.  A pay off letter has been requested.

      f. Other non-contested liens in the order of priority,
including the Tax Liens.

      g. The balance, if any, to the Debtor to be deposited in its
DIP account for the benefit of the Debtor's bankruptcy estate.

To the extent there is any dispute over the disbursements the
proceeds will be held in escrow by the title company or the
Debtor's bankruptcy counsel, pending resolution by the Bankruptcy
Court.   

The Debtor asks waiver of the 14-day stay of order authorizing use,
sale or lease of property, in accordance with the Federal Rules of
Bankruptcy Section 6004(h).  The Debtor will provide a report to
the Court as to the sale and distribution of the sale proceeds
within 10 days of the consummation of the sale.

A telephonic hearing on the Motion is set for Oct. 1, 2020 at 9:00
a.m.  Objections, if any, should be filed seven days prior to the
hearing date.

A copy of the Contract is available at https://tinyurl.com/y3fgy4av
from PacerMonitor.com free of charge.

                About 84 Albany Ave. Realty

84 Albany Ave. Realty Corp. owns in fee simple a commercial
building with 24,000 sq. ft. of space located in Freeport, NY,
having a current value of $1.05 million.

84 Albany Ave. Realty Corp. filed a voluntary petition under
Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y. Case No.
20-11423) on Feb. 28, 2020. The petition was signed by Robert
Bloom, chief executive officer (CEO). At the time of the filing,
the Debtor disclosed estimated assets of $1 million to $10 million
and estimated liabilities of $500,000 to $1 million.  The Hon.
Robert D. Drain oversees the case. The Debtor is represented by
Bronson Law Offices, P.C.



950 MEAT & GROCERY: Market Food Buying Patterson Property Sublease
------------------------------------------------------------------
950 Meat & Grocery, Inc., asks the U.S. Bankruptcy Court for the
Southern District of New York to authorize its Lease Purchase
Agreement for the sale of its sublease for the premises located at
946-956 Market Street, Patterson, New Jersey, and all other assets
used in connection with its supermarket business, to Market Food
Corp., subject to higher and better offers.

The Debtor proposes to sell the Sublease free and clear of all
Liens, with such Liens attaching to the proceeds of sale.

In the event that the Debtor's assets are sold to another purchaser
at the Sale Hearing, the Debtor asks that it would be authorized to
provide a breakup fee and expense reimbursement to the Buyer, in
the amount of no more than 3% of the aggregate purchase price with
an overbid in the amount of $200,000.

The Debtor asks authority to assume and assign certain executory
contracts and leases including its Sublease for its Premises to the
ultimate buyer.  It asks the Court to establish cure amounts, if
any.

Alternatively, if the Motion and authority to Assume and Assign is
not granted by the Court, or fails to close, then and in that
event, it asks authority to assume the Debtor Sublease for its
benefit.

On the Hearing Date, the Debtor will be soliciting higher or better
bids for the Sublease, inventory, and related business assets.  Any
prospective bidder for the Sublease, inventory, and related
business assets must appear at the hearing, or telephonic court
appearance, and as may be applicable on the Motion, (i) provide a
bank or certified check in the amount of no less than 10% of their
bid to the counsel for the Debtor at 24 hours prior to the Hearing
Date, (ii) provide an irrevocable offer, and must be willing to
execute a Lease Purchase Agreement, and (iii) provide adequate
assurance of future performance under the Sublease.  

Any party wishing a complete copy of the Motion, with the Lease
Purchase Agreement and Sublease or any other or further information
should contact Clifford A. Katz, Esq., Platzer Swergold Levine
Goldberg Katz & Jaslow, LLP, 475 Park Avenue South, 18th Floor,
(212) 593-3000, attorneys for the Debtor, at ckatz@platzerlaw.com
for any information prior to the Sale Hearing.  

Any objecting parties are required to participate on the Hearing
Date and failure to appear may result in relief being granted upon
default and that the Hearing Date may be adjourned from time to
time without further notice other than the announcement of such
adjournment in open court or on the Court's electronic docket.

A hearing on the Motion is set for Sept. 24, 2020 at 10:00 a.m.
The Objection Deadline is Sept. 17, 2020 at 4:00 p.m. (ET).

                     About 950 Meat & Grocery

950 Meat & Grocery Inc. owns and operates a supermarket in
Paterson, NJ.

950 Meat & Grocery Inc., based in Paterson, NJ, filed a Chapter 11
petition (Bankr. S.D.N.Y. Case No. 20-10616) on Feb. 27, 2020. In
the petition signed by Kent Tavera, president, the Debtor was
estimated to have $1 million to $10 million in both assets and
liabilities. The Hon. Stuart M. Bernstein oversees the case.
Clifford A. Katz, Esq., at Platzer Swergold Levine Goldberg Katz &
Jaslow, LLP, serves as bankruptcy counsel to the Debtor.


ADAMIS PHARMACEUTICALS: Amends Loan Agreement with Arvest Bank
--------------------------------------------------------------
Adamis Pharmaceuticals Corporation entered into an amendment to its
loan amendment and assumption agreement with Arvest Bank, as
successor in interest to Bear State Bank, N.A., and a related
amended and restated promissory note.  The Amendment amends the
Business Loan Agreement, promissory note and related loan documents
that the Company assumed or entered into in connection with its
acquisition of U.S. Compounding, Inc. in 2016.  The Amendment
memorializes and reflects the extension of the maturity date of the
indebtedness evidenced by the Loan Agreement, the Note and the Loan
Documents to Aug. 8, 2021.  The Note bears interest at a rate equal
to the lesser of: (a) the maximum rate of interest which the Bank
may lawfully charge under applicable law, or (b) a rate equal to
the sum of the prime commercial rate of interest as reflected in
the Wall Street Journal charged by banks in New York, New York on
Aug. 1, 2020, as adjusted daily, plus 2.5%, provided, however, that
the interest rate at any time during the term of the Note will not
be less than 6.0% per annum. The Company will make monthly payments
of principal and interest based on a 168-month amortization period,
with the remaining outstanding principal balance and any accrued
unpaid interest and any other sums payable under the Note or Loan
Documents due on the maturity date described above.  The Note
provides for a late charge fee with respect to any installment
payment not received by the Bank within 10 days after the due date
of the installment. The Note is subject to customary event of
default and acceleration provisions permitting Lender to declare
all outstanding indebtedness due and payable, including without
limitation following failure to pay amounts due, bankruptcy filings
or similar insolvency or reorganization proceedings, and defaults
by the Company under the terms of the security agreement, mortgage,
guaranties or similar agreements or documents relating to the Note.
The other terms of the Loan Agreement were not amended in any
material respect.

                  About Adamis Pharmaceuticals

Adamis Pharmaceuticals Corporation --
http://www.adamispharmaceuticals.com/-- is a specialty
biopharmaceutical company primarily focused on developing and
commercializing products in various therapeutic areas, including
respiratory disease, allergy and opioid overdose. The company's
SYMJEPI (epinephrine) Injection 0.3mg and SYMJEPI (epinephrine)
Injection 0.15mg products were approved by the FDA for use in the
emergency treatment of acute allergic reactions, including
anaphylaxis.

Adamis reported a net loss of $29.31 million for the year ended
Dec. 31, 2019, compared to a net loss of $39 million for the year
ended Dec. 31, 2018.  As of June 30, 2020, the Company had $39.70
million in total assets, $16.58 million in total liabilities, and
$23.12 million in total stockholders' equity.

Mayer Hoffman McCann P.C., in San Diego, California, the Company's
auditor since 2007, issued a "going concern" qualification in its
report dated March 30, 2020 citing that the Company has incurred
recurring losses from operations and is dependent on additional
financing to fund operations.  These conditions raise substantial
doubt about the Company's ability to continue as a going concern.


AIMBRIDGE ACQUISITION: S&P Rates New First-Lien Term Loan 'CCC+'
----------------------------------------------------------------
S&P Global Ratings assigned its 'CCC+' issue-level rating and '3'
recovery rating to Aimbridge Acquisition Co. Inc.'s proposed
first-lien term loan due 2026. S&P assumed the company will receive
proceeds of $150 million from this issuance. The '3' recovery
rating indicated S&P's expectation for meaningful (50%-70%; rounded
estimate: 50%) recovery for first-lien lenders in the event of a
payment default. Aimbridge will use the proceeds to repay its
outstanding revolver balance and provide additional near-term
liquidity.

"Our issuer credit rating on Aimbridge is 'CCC+', with a negative
outlook. The large number of COVID-19 infections in the U.S. and
Europe in recent months will likely slow the recovery in business
and group travel and lodging demand," S&P said.

"Because Aimbridge began 2020 with very high leverage following its
acquisition of Interstate Hotels & Resorts Inc., the effects of the
pandemic and the related steep recessions in the U.S. and Europe
will likely cause adjusted debt to EBITDA to be even higher because
the company will likely generate modest levels of positive EBITDA
this year," the rating agency said.

The company's leverage could potentially improve in 2021 if a
medical solution for COVID-19 emerges in the first half of the year
and achieves some level of broad dissemination during the remainder
of 2021, but Aimbridge's leverage could remain above 10x depending
upon the recovery in its revenue per available room (RevPAR) and
EBITDA margin. The company's liquidity will likely be pressured in
the near term and Aimbridge will need to rely on its liquidity
on-hand to meet its cash needs. In addition, S&P's current rating
and negative outlook reflect the possibility that Aimbridge's
capital structure may not be sustainable over the long term if the
company cannot sufficiently improve cash flow to cover its fixed
charges.

"Despite our forecast for very high leverage, we have not lowered
our rating on Aimbridge because it has materially reduced its cash
usage in recent months and U.S. industry RevPAR has been slowly but
steadily improving in a manner that gives us some confidence the
company's liquidity runway will improve," S&P said.

Approximately 90% of Aimbridge's portfolio properties are in the
U.S. and the company manages hotels that compete in multiple
segments, including economy, midscale, select service, and
full-service hotels.

"It is our understanding that Aimbridge's U.S. RevPAR results
across its portfolio in March-August 2020 were broadly similar to
the RevPAR performance of select service hotels, which have
performed less favorably than economy and extended stay hotels but
better than full-service and luxury hotels," S&P said.

"The company's cash usage during the second-quarter of 2020 was
about $8 million. It is our understanding that cash usage would
likely be in the $7.5 million-$8 million range per month going
forward, based on the current operating environment," the rating
agency said.

S&P believes Aimbridge currently has about $70 million of
liquidity, which would increase to $220 million pro forma for the
proposed $150 million term loan issuance." This pro forma level of
liquidity suggests that the company has a liquidity runway of at
least 27 months or potentially more if its RevPAR continues to
recover over the coming months. This liquidity runway could
plausibly enable Aimbridge to sustain its operations until the
recovery in travel and lodging demand gains momentum in 2021.

S&P updated its base case forecast to incorporate the following
assumptions:

-- In the U.S., the economy, midscale, and extended-stay segments
have outperformed the industry while the upper upscale and luxury
full-service segments have underperformed since the pandemic began.
This divergence has worsened in recent months and could persist
until there is a medical solution to COVID-19 that improves
consumers' willingness to travel. S&P assumes this divergence
continues into at least the first half of 2021;

-- European RevPAR declines by 40%-60% in 2020 before potentially
rebounding by 40%-60% in 2021 (but is still 20%-30% below 2019
levels);

-- S&P believes leisure travel will recover first, business
transient second, and group business third because of potential
lingering concerns around gatherings and social distancing
guidelines. Group travel will likely not recover until there is a
vaccine for the coronavirus or a reliable therapy for COVID-19;

-- S&P assumes Aimbridge will manage its cost base such that it
reaches breakeven at lower occupancy rates than its hotels have
historically operated with because its guests will likely require
lower service levels, particularly for food and beverage or any
high-touch point service, for a prolonged period;

-- S&P assumes U.S. industry RevPAR declines by 40%-50% in 2020.
S&P assumes Aimbridge's RevPAR will decline by the high end of this
range in 2020 due to its exposure to full-service hotels;

-- Based on S&P's assumption that the economy will continue to
recover and the rebound in travel demand will be sustained through
2021, the rating agency assumes U.S. industry RevPAR could increase
by 40%-50% in 2021 but remain 20%-30% below 2019 levels. S&P
assumes Aimbridge's RevPAR will increase by the high end of the
rating agency's industry range in 2021. The rating agency
preliminarily assumes a medical solution emerges in the first half
of 2021 and achieves some level of broad dissemination over the
course of 2021, enabling Aimbridge's RevPAR recovery to gain
momentum in 2022;

-- S&P assumes EBITDA is minimal in 2020 but improves
substantially in 2021 if Aimbridge efficiently manages its costs
during the recovery period; and

-- The company significantly reduces its capital spending in 2020
and 2021 relative to 2019.

Based on these assumptions, S&P arrives at the following credit
measures:

-- Adjusted debt to EBITDA is very high in 2020 and above 10x in
2021;

-- Low EBITDA coverage of interest expense in 2020, improving to
about 1x in 2021; and

-- If a medical solution attains acceptance and broad
dissemination in 2021, adjusted debt to EBITDA could improve toward
10x in 2022.

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

-- Health and safety

ISSUE RATINGS--RECOVERY ANALYSIS

Key analytical factors

-- S&P is assigning its 'CCC+' issue-level rating and '3' recovery
rating to Aimbridge's proposed first-lien term loan due 2026.

-- S&P's 'CCC+' issue-level rating on the company's existing
first-lien credit facilities is unchanged. The existing first-lien
debt consists of a revolver due in 2024 and a first-lien term loan
due in 2026.

-- The '3' recovery rating indicates S&P's expectation for
meaningful (50%-70%; rounded estimate: 50%) recovery for lenders in
the event of a payment default.

-- The $160 million second-lien term loan due in 2027 is unrated.

-- S&P's simulated default scenario contemplates a payment default
in 2022 and assumes a severe economic downturn that reduces hotel
demand, external shocks that discourage travel, and cyclical
overbuilding in the hotel industry. In such a scenario, the
lingering effects of the COVID-19 pandemic could continue to
suppress demand and result in significant cash usage that leads to
a payment default.

-- S&P values the company as a going concern using a 6x EBITDA
multiple, which reflects its lack of hard assets and operations in
a competitive marketplace for third-party hotel managers.

Simulated default assumptions

-- Simulated year of default: 2022
-- EBITDA at emergence: $100 million
-- EBITDA multiple: 6x

Simplified waterfall

-- Net recovery value for waterfall after administrative expenses
(5%): $570 million

-- Obligor/nonobligor valuation split: 91%/9%

-- Estimated first-lien debt claims: $1.06 billion

-- Estimated value available to first-lien lenders: $564 million

-- Recovery expectations: 50%-70% (rounded estimate: 50%)

Note: All debt amounts include six months of prepetition interest.


AIMBRIDGE HOSPITALITY: Moody's Rates Planned $150MM Term Loan 'B3'
------------------------------------------------------------------
Moody's Investors Service assigned a B3 rating to Aimbridge
Hospitality Holdings, LLC's planned $150 million first lien senior
secured term loan. At the same time, Moody's downgraded the rating
on the company's existing first lien senior secured bank credit
facility to B3 from B2 and affirmed the company's B3 Corporate
Family Rating and B3-PD Probability of Default Rating. The outlook
remains negative.

Proceeds from the planned term loan will be used to repay
borrowings under the company's $120 million revolver due 2024,
bolstering Aimbridge's liquidity during this time of unprecedented
earnings decline. The downgrade to the company's existing first
lien senior secured bank credit facility reflects the impact of the
additional $150 million of secured debt in the capital structure,
for a total of $1.05 billion of first lien debt, relative to the
$160 million of second lien debt (unrated), per Moody's Loss Given
Default methodology. The affirmation of the B3 CFR reflects
Aimbridge's lack of near dated debt maturities and overall good
liquidity following the debt raise.

Downgrades:

Issuer: Aimbridge Hospitality Holdings, LLC

Senior Secured Bank Credit Facility, Downgraded to B3 (LGD3) from
B2 (LGD3)

Assignments:

Issuer: Aimbridge Hospitality Holdings, LLC

Senior Secured Bank Credit Facility, Assigned B3 (LGD3)

Affirmations:

Issuer: Aimbridge Hospitality Holdings, LLC

Probability of Default Rating, Affirmed B3-PD

Corporate Family Rating, Affirmed B3

Outlook Actions:

Issuer: Aimbridge Hospitality Holdings, LLC

Outlook, Remains Negative

RATINGS RATIONALE

Aimbridge Hospitality Holdings, LLC's credit profile is constrained
by its high debt/EBITDA which will well exceed its downgrade factor
of 6.5x at the end of 2020 given the material decline in earnings
expected due to travel restrictions related to the spread of
COVID-19 (all metrics include Moody's standard adjustments), which
Fitch regards as a social risk under its ESG framework, given the
substantial implications for public health and safety. This
expected material increase in leverage follows a notable increase
in debt to finance Aimbridge's 2019 acquisition of Interstate
Hotels & Resorts for approximately $800 million, including $500
million of debt. Aimbridge's scale is small in terms of revenue and
earnings relative to other single B rated Business and Consumer
Services companies. Aimbridge's credit profile reflects its
expectation that the company will successfully integrate the
Interstate Hotels & Resorts acquisition further solidifying its
position as the largest third-party hotel management company.
Aimbridge's credit profile also benefits from its good
diversification in terms of geography, brands, and hotel owners.
The acquisition of Interstate will further improve the company's
scale in terms of number of managed properties (to about 1,360
properties from about 830) and almost doubles Aimbridge's absolute
level of EBITDA. Under normal conditions the combined company will
benefit from strong free cash flow due in part to its minimal
capital expenditure requirements.

The negative outlook reflects its expectation that Aimbridge's
earnings will deteriorate materially in 2020 resulting in
debt/EBITDA of above 6.5x for at least the next 12 months.

If this transaction closes as expected it will strengthen
Aimbridge's liquidity. The company will have pro forma cash
balances of about $100 million after repaying the revolver
borrowings. This liquidity will provide cushion to absorb an
extended period of cash flow pressure. Notably the company has no
near-term maturities until its revolver expires in 2024 and its
first lien term loans mature in 2026. The credit agreement contains
a springing leverage covenant which Moody's does not expect will be
tested in the near term. Alternate sources of liquidity are
limited.

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

Aimbridge's ratings could be downgraded if debt/EBITDA does not
recover to below 6.5x, if EBITA/interest expense is not sustained
above 1.0x or if the probability a default increases for any
reason. Any deterioration in liquidity would also lead to negative
ratings pressure. The outlook could return to stable if earnings
declines stabilize and covenant concerns lessen. Although not
likely in the near term, ratings could be upgraded if Aimbridge's
debt/EBITDA and EBITA/interest expense approached 5.5x and 2.5x,
respectively.

Aimbridge Acquisition Co., Inc., through its subsidiaries Aimbridge
Hospitality Holdings, LLC and KIHR Holdings Inc., is the largest
third-party hotel operator, with over 1,360 properties and
approximately 185,000 rooms under management. Aimbridge's managed
properties are located in 49 states and 20 countries. The company
is majority owned by Advent International. The company is private
and does not file public financials. Pro forma for a full year of
the Interstate acquisition, revenues (net of reimbursements) is
approximately $300 million.

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


AKORN INC: Balks at Rival Fresenius to Reclassify Damage Claims
---------------------------------------------------------------
Leslie A. Pappas, writing for Bloomberg Law, reports that bankrupt
generic pharmaceuticals manufacturer Akorn Inc. tussled with rival
Fresenius Kabi in court over how to classify Fresenius' claims, a
right-to-payment fight lingering from their once-proposed merger
agreement.  Fresenius is seeking to have its claims declared as
unsecured debt, a classification that would give the German company
priority over equity holders in Akorn's bankruptcy distribution.
In a filing with the U.S. Bankruptcy Court for the District of
Delaware, Akorn pushed back on Fresenius' attempt to reclassify
millions of dollars in claims relating to their failed $4.3 billion
merger agreement.

                        About Akorn, Inc.

Akorn, Inc. (Nasdaq: AKRX) -- http://www.akorn.com/-- is a
specialty pharmaceutical company that develops, manufactures, and
markets generic and branded prescription pharmaceuticals, branded
as well as private-label over-the-counter consumer health products,
and animal health pharmaceuticals.  Akorn is headquartered in Lake
Forest, Illinois, and maintains a global manufacturing presence,
with pharmaceutical manufacturing facilities located in Illinois,
New Jersey, New York, Switzerland, and India.

Akorn, Inc., and its affiliates sought Chapter 11 protection
(Bankr. D. Del. Lead Case No. 20-11178) on May 20, 2020.

As of March 31, 2020, the Debtors disclosed total assets of
$1,032,275,000 and total liabilities of $1,051,769,000.

The cases are assigned to Judge John T. Dorsey.

The Debtors tapped Kirkland & Ellis LLP and Kirkland & Ellis
International LLP as their general bankruptcy counsel.  Richards,
Layton & Finger, P.A., is the Debtors' local counsel. AlixPartners,
LLP, serves as the Debtors' restructuring advisor, and PJT Partners
LP is the financial advisor and investment banker.  Kurtzman Carson
Consultants, LLC, is the notice and claims agent.


ALPHA ENTERTAINMENT: The Rock's Group Pays $15 Million for Assets
-----------------------------------------------------------------
Dany Garcia, Dwayne Johnson and RedBird Capital Partners said in
early August 2020 that they have been selected as the winning
bidder for substantially all of the assets of Alpha Entertainment
LLC, the parent company of the XFL.  The XFL assets will be sold to
Garcia, Johnson and RedBird for approximately $15 million, in
accordance with the terms and conditions of the asset purchase
agreement.  The sale auction previously scheduled for Aug. 3 was
cancelled.

Through this acquisition, the group secures the ability to option
live entertainment intellectual property for further expansion
across sports, live events and original entertainment programming.

"For Dwayne, Gerry and myself, this property represents an
incredible opportunity. It is the confluence of great passion,
tradition and possibility" said Dany Garcia.  "Sports and
entertainment are the foundations of the businesses I have built.
Melding our expertise combined with our commitment  to deliver
exciting and inspiring unique content, has us all focused on
developing the XFL brand into a multi-media experience that our
athletes, partners and fans will proudly embrace and love."

"The acquisition of the XFL with my talented partners, Dany Garcia
and Gerry Cardinale, is an investment for me that's rooted deeply
in two things - my passion for the game and my desire to always
take care of the fans," said Dwayne Johnson.  "With pride and
gratitude for all that I've built with my own two hands, I plan to
apply these callouses to the XFL, and look forward to creating
something special for the players, fans, and everyone involved for
the love of football."

"It is a privilege to partner with Dany and Dwayne on the
acquisition of the XFL," said Gerry Cardinale, Founder and Managing
Partner of RedBird Capital Partners.  "Their track record in
building dynamic businesses speaks for itself, and their vision and
passion for developing the XFL as a world class sports and
entertainment property will enable a new future for this
organization.  As their partner in acquiring and relaunching the
XFL, RedBird will bring its own track record and experience in
building world class companies in sports and live entertainment to
help realize their vision."

"We are grateful for today's outcome," said Jeffrey Pollack, XFL
President and COO. "This is a Hollywood ending to our sale process
and it is an exciting new chapter for the league.  Dwayne, Dany and
Gerry are a dream team ownership group and the XFL is in the best
possible hands going forward."

Garcia and Johnson are co-founders of Seven Bucks Companies, a
multi-platform enterprise pioneering original content for
television, film, emerging technologies and digital networks, and
have been behind some of the most successful platforms in global
entertainment.  Through their joint enterprise, Garcia and
Johnson's work spans all entertainment and creative verticals
involving investments, brand integrations, philanthropic endeavors,
marketing, and film and television projects that are rooted in
authenticity, passion and strong storytelling with a mission of
promoting equality and inclusion.

Over the last 20 years, Cardinale has been responsible for the
creation of several multi-billion dollar sports and entertainment
companies in partnership with some of the most iconic rights
holders in the world, including the YES Network with the New York
Yankees; Legends Hospitality with the Yankees and Dallas Cowboys;
On Location Experiences with the National Football League (NFL);
and OneTeam Partners with the Players' Associations of the NFL,
Major League Baseball, Major League Soccer, United States Women's
National Soccer Team and Women's National Basketball Association.

                         Sale Approved

Sportico reported that the pending sale of the XFL was approved by
U.S. Bankruptcy Judge Laurie Selber Silverstein following a brief
hearing at the federal bankruptcy court in Wilmington, Del.

The sale was complicated by the fact that thousands of creditors
claim they are owed money from Alpha.  A committee representing
unsecured creditors filed an objection to the pending sale, arguing
that it failed to maximize the sale price and unwittingly transfers
assets to the buyer without accompanying compensation.

These critiques were rebutted by the sworn declarations of Alpha
president and COO Jeffrey Pollack and Houlihan Lokey managing
director Jay Weinberger, whom Alpha retained for the sale.  Pollack
and Houlihan both detailed steps taken by Alpha to attract bidders
and both acknowledged the difficulty of selling a sports league
through a bankruptcy process (particularly during an infectious
disease pandemic that adds uncertainty and risk to the
transaction).

                       About Dany Garcia

As Founder, Chairwoman and CEO of The Garcia Companies and TGC
Management and Co-Founder of Seven Bucks Companies, Dany Garcia is
the visionary architect of some of the most successful enterprises,
brands and talent.  Her immersive global approach within
ever-changing landscapes paired with precise instincts have led to
unprecedented box office success and innovative business
partnerships across verticals. With unbridled athleticism as a
professional bodybuilder, Garcia also flawlessly pioneers her
expansive enterprise while competing at the highest level. Her
global audience can expect trailblazing initiatives throughout 2020
and beyond, as Garcia continues to keep human needs and experience
at the forefront of her endeavors across the spaces of mental and
physical wellness, athletics, entertainment, spirits, finance and
more. In 2019, Garcia, in partnership with Dwayne Johnson,
announced one of their most ambitious endeavors to date --
Athleticon, a first-of-its-kind community-driven virtual
experience. The inaugural, eponymous counterpart, an immersive
event experience celebrating the very best in athletics, wellness
and entertainment will take place in October 2021 in Atlanta.
Garcia’s passion for bettering the world through socially
responsible decisions is consistently reflected in the culture of
her teams and the businesses she builds.

                      About Dwayne Johnson

As CEO of Seven Bucks Companies, Dwayne Johnson is a global
entertainment and entrepreneurial force who continues to grow his
groundbreaking success while managing his ever-expanding and
diverse entertainment portfolio. In 1995, Johnson had just been cut
from the Canadian Football League and famously had just $7 in his
pocket. Today, Johnson produces and stars in Seven Bucks' tent-pole
films and television events with box office revenues exceeding $10
billion worldwide. A cultural leader with audiences across the
globe, Johnson's expertise is invaluable not just in entertainment,
but for first-class brands as well, including his strategic
partnership and investment in VOSS Water, his trailblazing Project
Rock collection with Under Armour and new investment in Acorns. In
2020, Johnson launched, TEREMANA, a tequila brand rooted from his
passion for spirits as well as Athleticon, a one-of-a-kind virtual
experience and inaugural live event with the ultimate combination
of athletics, wellness and entertainment, created in partnership
with Dany Garcia. Johnson’s mission is to continue using his
platform to inspire kindness, humility, and hard work, while
entertaining global audiences with unique storytelling and
authenticity.

                 About RedBird Capital Partners

RedBird Capital Partners is a private investment firm focused on
building high-growth companies with flexible, long-term capital in
partnership with its Entrepreneur & Family Office Network.  Founded
by former Goldman Sachs Partner Gerry Cardinale, RedBird today
manages $4 billion of capital principally across its core industry
verticals in Sports, TMT, Financial Services and Consumer.  RedBird
invests with an entrepreneurial, company-building mentality, with
an emphasis on capital appreciation and compounding equity returns
over longer holding periods.  RedBird’s network of business
founders and entrepreneurs is central to its investment sourcing
strategy, and its highly curated group of investors are active
co-investors who provide scaleable capital support.  For more
information, please go to www.redbirdcap.com.

                   About Alpha Entertainment

Alpha Entertainment LLC, which does business as the "Xtreme
Football League" -- https://www.alphaentllc.com/ -- is a
professional American football league.  The XFL kicked off with
games beginning in February 2020. The XFL offered fast-paced,
three-hour games with fewer play stoppages and simpler rules. The
XFL featured eight teams, 46-man active rosters, and a 10-week
regular season schedule, with a postseason consisting of two
semifinal playoff games and a championship game.  The eight XFL
teams were the DC Defenders, the Dallas Renegades, the Houston
Roughnecks, the Los Angeles Wildcats, the New York Guardians, the
St. Louis BattleHawks, the Seattle Dragons, and the Tampa Bay
Vipers.

Alpha Entertainment LLC, based in Stamford, CT, filed a Chapter 11
petition (Bankr. D. Del. Case No. 20-10940) on April 13, 2020.  The
Hon. Laurie Selber Silverstein presides over the case.  In its
petition, the Debtor was estimated to have $10 million to $50
million in both assets and liabilities.  The petition was signed by
John Brecker, independent manager.

The Debtor hired Young Conaway Stargatt & Taylor, LLP, as counsel;
and Donlin Recano & Company, Inc., as claims agent and
administrative advisor.


ALPHA ENTERTAINMENT: Univ. of Houston Wants to Get $800K+ from Sal
------------------------------------------------------------------
Bydean Straka of 247 Sports reports that a major university in
Texas could be receiving a substantial amount of money in the
pending sale of the XFL, which filed for bankruptcy earlier in the
year. According to XFL News Hub, the University of Houston, which
hosted the XFL's Houston Roughnecks at TDECU Stadium, is looking to
be made whole with more than $800,000 in the pending sale.

UH, in addition to hosting the Roughnecks, was also home to the
XFL's training camp ahead of its short-lived 2020 season, and the
has the potential to host games once again if the league can be
revitalized. A section of a recent court filing, as provided by XFL
News Hub, indicated that both parties already agreed to a payment
of nearly $730,000, but UH claims that an additional $112,500 is
due.

"Upon information and belief, the Parties are in agreement of a
cure amount of $729,444.25.2 (UH) asserts that an additional
$112,500 is due (for a total of $841,944.25) under the Venue Use
Agreement for field replacement which has already occurred and
costs and expenses have already been incurred. While the second
installment payment of $112,500 is not due until May 2021, the
University is aware that an argument could be made by a prospective
purchaser in a sale that such amount accrued pre-petition and
therefore should have been included in the cure amount. As a
result, the University is filing this Objection to preserve the
issue.

The University asked the Court permit the University to preserve
the issue that the referenced $112,500 shall be due and owing under
the terms of the Agreements upon any assumption and assignment, and
grant the University such other and further relief, both at law and
in equity, to which the University may justly be entitled."

The XFL ceased all operations in mid-March amid the COVID-19
pandemic. At the time of the stoppage, there had been five weeks of
play in the newly formed football league.

In a statement put out by the XFL at the time of the stoppage, the
league maintained that they were committed to playing a full season
in 2021 and beyond. However, those hopes took a major blow in April
when the league filed for chapter 11 bankruptcy.

Before the shutdown, the XFL had completed five weeks of its
ten-week regular season with its eight teams. The season, which
began on February 8th, was scheduled through April 12th. The league
was broken up into two divisions of four teams each, with the top
two in each division advancing to the postseason.

This was Vince McMahon's second go at the XFL, who originally
started the league in 2001, which also folded after one season. For
the second try at the XFL, McMahon hired Commissioner Oliver Luck
to create a serious football league with slight rule variations
that would attract fans to tune in. Some of those rule variations
included a new kickoff alignment and a three-tiered extra point
system.

For at least one player, the XFL was a massive success. When the
Carolina Panthers agreed March 23 to sign P.J. Walker, the former
Temple quarterback proved that the XFL had worked in providing
players NFL opportunities. As the star of the XFL's relaunch for
the 2020 season, Walker starred in five games on the Houston
Roughnecks and was rewarded with the Panthers' two-year contract
for $1.6 million.

                    About Alpha Entertainment

Alpha Entertainment LLC, which does business as the "Xtreme
Football League" -- https://www.alphaentllc.com/ -- is a
professional American football league.  The XFL kicked off with
games beginning in February 2020. The XFL offered fast-paced,
three-hour games with fewer play stoppages and simpler rules.  The
XFL featured eight teams, 46-man active rosters, and a 10-week
regular season schedule, with a postseason consisting of two
semifinal playoff games and a championship game. The eight XFL
teams were the DC Defenders, the Dallas Renegades, the Houston
Roughnecks, the Los Angeles Wildcats, the New York Guardians, the
St. Louis BattleHawks, the Seattle Dragons, and the Tampa Bay
Vipers.

Alpha Entertainment LLC, based in Stamford, CT, filed a Chapter 11
petition (Bankr. D. Del. Case No. 20-10940) on April 13, 2020.  In
its petition, the Debtor was estimated to have $10 million to $50
million in both assets and liabilities.  The petition was signed by
John Brecker, independent manager.

The Hon. Laurie Selber Silverstein oversees the case.  

The Debtor hired Young Conaway Stargatt & Taylor, LLP; and Donlin
Recano & Company, Inc., as claims agent and administrative advisor.


AND INK 1: Seeks Court Approval to Hire Oliver Smith Realty
-----------------------------------------------------------
And Ink 1, LLC seeks approval from the U.S. Bankruptcy Court for
the Eastern District of Tennessee to hire real estate firm Oliver
Smith Realty & Development Company, Inc.

Debtor needs the services of a realtor to market for sale or lease
its real property located at 1612 Downtown West Blvd., Knoxville,
Tenn.

Oliver Smith will receive a 4 percent commission on the sales price
or a 6 percent commission if the buyer is represented by another
broker.

The firm can be reached through:

     Oliver Smith
     Oliver Smith Realty & Development Company, Inc.
     7216 Wellington Dr #1
     Knoxville, TN 37919
     Telephone: (865) 584-2000
     Facsimile: (865) 584-2515
     Email: oliversmith@oliversmithrealty.com

                        About And Ink 1 LLC

And Ink 1, LLC is a single asset real estate (as defined in 11
U.S.C. Section 101(51B)). It is the owner of fee simple title to a
medical building and office located at 1612 Downtown West Blvd.,
Knoxville, Tenn., valued at $1.86 million.

And Ink 1 filed its voluntary petition for relief under Chapter 11
of the Bankruptcy Code (Bankr. E.D. Tenn. Case No. 20-31904) on
Aug. 14, 2020.  In the petition signed by Fran Incandela, member,
Debtor disclosed $1,867,500 in assets and $1,903,749 in
liabilities.

Judge Suzanne H. Bauknight oversees the case.  Tarpy Cox Fleishman
& Leveille, PLLC is Debtor's legal counsel.  


ANDREW C. WALKER: ABC Builders Buying Madison Property for $489K
----------------------------------------------------------------
Andrew Cline Walker and Deborah L. Walker ask the U.S. Bankruptcy
Court for the Southern District of Mississippi to authorize the
sale of their house and real property located at 108 Chantilly
Drive, Madison, Mississippi to ABC Builders of Mississippi for
$489,000.

The Debtors are the owners of the property.  J.P. Morgan Mortgage
Acquisition Corp. holds the first mortgage on the property and
claims in its motion for relief from the automatic stay to be owed
the sum of $380,080 as of July 15, 2020.  Trustmark National Bank
holds the second mortgage on the property and filed a proof of
claim [POC # 4] in the amount of $226,500 on Jan. 10, 2020.  The
Debtors have been making adequate protection payments of $4,600 a
month pursuant to the terms of the agreed order entered on March
23, 2020.

The Debtors believe that it will be too costly to retain and
maintain the property and liquidating it will pay the J.P. Morgan
claim in full and greatly reduce the Trustmark claim which will
assist in enabling debtor to obtain confirmation of a plan of
reorganization.  Accordingly, it is in the best interest of the
Debtors for the property to be liquidated so their debt load can be
reduced and they can continue with trying to formulate a plan of
reorganization.

On July 27, 2020, an application was filed to employ Nell Wyatt and
the real estate company of Nell Wyatt Real Estate including the
real estate agents in such company to market the property and
advertise it for sale.  The asset was immediately placed on the
market and several parties expressed an interest in purchasing the
asset, but the highest and best offer was made by ABC Builders of
Mississippi which offered the sum of $489,000 and has deposited the
sum of $5,000 which is being held in trust by Nell Wyatt Real
Estate.  The sale will be free and clear of the interests, with
liens or interest attaching to the sale proceed.  The parties have
executed their contract for the sale and purchase of real estate.

The Debtors believe that this is the highest and best price that
will be offered for the property and that it is unnecessary to try
and schedule an auction at this time.  However, in the event that a
party appears, objects to the motion and offers a higher price
prior to the motion being approved by the Court, the Debtors ask
that the Court will require such party to offer a minimum of
$10,000 more than the current offer and place a minimum of $12,500
in escrow with their attorneys to qualify for bidding on the
property at an auction.

A prompt sale of the asset will likely enable the Debtors to
realize the best value for the asset.  They believe that the terms
and conditions set forth in this sale motion are fair and equitable
to both the parties, and ultimately result in a successful sale of
the Debtors' asset.

A copy of the Contract is available at https://tinyurl.com/yytosae6
from PacerMonitor.com free of charge.

Andrew Cline Walker and Deborah L. Walker sought Chapter 11
protection (Bankr. S.D. Miss. Case No. 19-04312) on Dec. 4, 2019.
The Debtors tapped Michael Bolen, Esq., at Hood & Bolen, PLLC as
counsel.  On Aug. 24, 2020, the Court appointed Nell Wyatt of Nell
Wyatt Real Estate as real estate agent.


ANGELITA S. WILLIAMS: Liu Buying Berkeley Home for $1.41 Million
----------------------------------------------------------------
Angelita Sophia Williams asks the U.S. Bankruptcy Court for the
Northern District of California to authorize the sale of the
single-family residence located at 2508 Dana Street, Berkeley,
California to Bonaparte Liu for $1.41 million, subject to higher
and better offers.

Among the assets of the Estate is the Property.  The Property is
co-owned with the Debtor's divorcing spouse, David Christian
McCulloch ("Petitioner").  On June 8, 2020, the Debtor and the
Petitioner entered into a stipulation to sell the home and to
divide its net proceeds.  They listed Property on the Multiple
Listing Service and used an open competitive bidding process rather
than selling the Property directly to Mr. Herbert Williams as
contemplated by the Stipulation.  The Parties have not completed
their divorce proceedings.

The Parties were preparing the Property for sale when Trustee was
forced to file the instant Chapter 11 to stop a foreclosure sale on
her primary residence in Orinda, California.  The Debtor would like
to sell Property free and clear of the liens and other encumbrances
and to use proceeds of the sale to pay the mortgage, costs of sale,
commissions, taxes and related costs.  

The Preliminary Title states that the Property is vested in the
Debtor's revocable living trust, "David C. McCulloch and Angelita
S. Williams, Trustees of the McCulloch-Williams 2000 Family Trust,
Dated July 17, 2000."  The Deed of Trust of the Property states
that the Parties hold title as "David C. McCulloch and Angelita S.
Williams, Husband and Wife As Community Property."  Since the
character of the net proceeds is "Community Property," after paying
all liens and encumbrances attached to the Property, the net
proceeds will be placed directly into the Debtor's Cash Collateral
Account until further orders of the Court.

The Debtor believes that the sale of the Property is in the best
interest of the Bankruptcy Estate and its creditors.  The Property
was actively marketed by her Real Estate Agent, John Wesley of The
Grubb Co.  The Broker listed the Property at $849,000 and heavily
marketed the Property.  The Broker received 11 offers and selected
the one with the most favorable combination of terms.  Based on the
Debtor's real estate agent's assessment of value and the marketing
of the Property, she believes that the proposed sale is in the best
interest of the Bankruptcy Estate.  

The winning bidder, the Buyer, has agreed to purchase the Property
for the total sum of $1.41 million, subject to Court approval and
overbid.  The Trustee anticipates paying from the proceeds of sale
a real estate commission of 5% of the commission on the Purchase
Price to her real estate broker, John Wesley (to be split with the
Buyer's agent).  She also proposes to pay associated costs of sale,
including but not limited to, pro-rated real property taxes, city
and county transfer taxes, and out-of-pocket reimbursements to her
broker for $1,525 and to David Christian McCulloch for $13,972.

The sale of the Property is subject to overbid by a qualified
overbidder.  In order to be designated as a Qualified Overbidder,
persons must notify John Wesley -- 100 Grand Avenue, Suite 112,
Oakland, California 94612, phone (510) 384-4275, email:
jwesley@grubbco.com -- by Sept. 14, 2020 and comply with the
following Overbid Procedures:

     1. The first overbid must be in an amount of at least
$1,435,000 (i.e. $25,000 over current Purchase Price);

     2. Further bids will be in increments of $25,000;

     3. A bid must be an "all cash" offer and must not contain loan
contingencies, inspections contingencies or other contingencies.
All of the other terms and contingencies of sale, other than the
price term, except as otherwise negotiated in advance with the
Trustee will apply;

     4. Each Qualified Overbidder must provide a deposit of 3% of
the initial overbid to the Trustee, along with adequate financial
documentation reflecting an ability to close, by Sept. 14, 2020 at
5:00 p.m.

     5. If the successful Qualified Overbidder fails to consummate
the purchase, the deposit will not be refunded to the successful
Qualified Overbidder, but will be retained by the Trustee as
liquidated damages. Deposits will be returned to the unsuccessful
Qualified Overbidders other than a backup offer, upon the
conclusion of the auction;

     6. In the event the Trustee qualifies an Overbidder, the
overbid auction will take place on Sept. 16, 2020 at 1:00 p.m. by
telephone;

     7. The Qualified Overbidder will be required to close escrow
within seven days of Court approval;

     8. The sale is expressly subject to approval of Court;

     9. The sale will be on an "as-is, where-is" and with all
faults basis.  The Trustee disclaims any representations or
warranties, express or implied, in connection with the sale. Any
disputes with respect to the sale will be resolved by the Court in
its sole and complete discretion;

     10. The Trustee may accept a backup offer at the auction;

     11. The Trustee reserves the right, in her sole discretion, to
refuse bids which do not, in her sole opinion, conform with the
terms of the sale, to modify these terms and conditions or to
continue the sale from time to time.  She, in her sole discretion,
will determine the highest and best bid.

     12. In the event that buyer is not the successful bidder, and
a Qualified Overbidder purchases the Property, and actually closes
escrow, buyer will receive a "break-up fee" of $2,500 at the time
of the closing of the sale.

     13. In the event that the Buyer is not the successful bidders,
the Buyer's deposit will be refunded in full, unless the buyer
agrees, at the auction, to be back-up bidders for the Property, at
an amount equal to their last bid regarding the Property, in the
event that the successful Qualified Overbidder does not close
escrow.  In that event, if the successful Qualified Overbidder
closes escrow on the Property, buyer will receive their deposit,
and their break-up fee, upon the close of escrow.

     14. In order for the Qualified Overbidder sale to move
forward, the Qualified Overbidder, upon being determined to be the
successful bidder by the Court, must execute a Purchase Agreement
and addendum thereto.

Finally, the Debtor asks that FRBP Rule 6004 will not apply to the
order authorizing her to sell the Property, which will be effective
immediately upon entry.    

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

Angelita Sophia Williams sought Chapter 11 protection (Bankr. N.D.
Cal. Case No. 20-41135) on July 6, 2020.


APPLIED DNA: Provides Update on Potential SARS-CoV-2 Vaccine
------------------------------------------------------------
Dr. James A. Hayward, Ph.D., Sc.D., president and chief executive
officer of Applied DNA Sciences, Inc., presented at H.C. Wainwright
& Co.'s 22nd Annual Global Investment Conference.  A webcast of Dr.
Hayward's presentation is available in the "IR Calendar" section on
the Investor Relations page of the Applied DNA website at adnas.com
and will be archived for 90 days. Applied DNA provided an update
on, among other things, its joint development of potential
DNA-based vaccine candidates against SARS-CoV-2, including its
entry into an animal clinical trial agreement with respect to
application of one vaccine candidate to cats.  If Applied DNA's
animal clinical trial is successful, it would still have to file an
Investigational New Drug Application with the U.S. Food and Drug
Administration which must be approved before human clinical trials
could begin.  There is no guarantee that Applied DNA will ever be
successful in obtaining regulatory clearance or approval for any
product that incorporates its products or technology.

                          About Applied DNA

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

Applied DNA reported a net loss of $8.63 million for the year ended
Sept. 30, 2019, compared to a net loss of $11.69 million for the
year ended Sept. 30, 2018.  As of June 30, 2020, the Company had
$13.97 million in total assets, $5.20 million in total liabilities,
and $8.78 million in total equity.


AVID BIOSERVICES: Posts $4.7 Million Net Income in First Quarter
----------------------------------------------------------------
Avid Bioservices, Inc. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing net income
of $4.73 million on $25.39 million of revenues for the three months
ended July 31, 2020, compared to a net loss of $3.16 million on
$15.25 million of revenues for the three months ended July 31,
2019.

As of July 31, 2020, the Company had $105.56 million in total
assets, $59.02 million in total liabilities, and $46.54 million in
total stockholders' equity.

The Company's principal sources of liquidity are its existing cash
and cash equivalents.  As of July 31, 2020, the Company had cash
and cash equivalents of $28.2 million.  The Company said its
ability to fund its operations is dependent on the amount of cash
on hand and its ability to generate positive cash flow to sustain
its current operations.

The Company currently anticipates that its cash and cash
equivalents as of July 31, 2020, combined with its anticipated
collection of existing accounts receivable and projected cash
receipts from services to be rendered under its existing customer
contracts, will be sufficient to fund its operations for at least
the next 12 months from June 30, 2020 (the date of this Quarterly
Report).

The Company stated, "In the event we are unable to generate
sufficient cash flow to support our current operations, we may need
to raise additional capital in the equity markets in order to fund
our future operations.  We may raise funds through the issuance of
debt or through the public offering of securities. There can be no
assurance that these financings will be available on acceptable
terms, or at all.  Our ability to raise additional capital in the
equity and debt markets is dependent on a number of factors
including, but not limited to, the market demand for our common
stock.  The market demand or liquidity of our common stock is
subject to a number of risks and uncertainties including, but not
limited to, our financial results, economic and market conditions,
and global financial crises and economic downturns, including those
caused by widespread public health crises such as the COVID-19
pandemic, which may cause extreme volatility and disruptions in
capital and credit markets.  If we are unable to fund our
continuing operations through these sources, we may need to
restructure, or cease, our operations.  In addition, even if we are
able to raise additional capital, it may not be at a price or on
terms that are favorable to us.  Any of these actions could
materially harm our business, financial condition, results of
operations, and future prospects."

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

https://www.sec.gov/Archives/edgar/data/704562/000168316820002953/avid_10q-073120.htm

                    About Avid Bioservices

Avid Bioservices -- http://www.avidbio.com/-- is a dedicated
contract development and manufacturing organization (CDMO) focused
on development and CGMP manufacturing of biopharmaceutical drug
substances derived from mammalian cell culture.  The company
provides a comprehensive range of process development, CGMP
clinical and commercial manufacturing services for the
biotechnology and biopharmaceutical industries.  With over 27 years
of experience producing monoclonal antibodies and recombinant
proteins, Avid's services include CGMP clinical and commercial drug
substance manufacturing, bulk packaging, release and stability
testing and regulatory submissions support. For early-stage
programs, the company provides a variety of process development
activities, including upstream and downstream development and
optimization, analytical methods development, testing and
characterization.  The scope of its services ranges from standalone
process development projects to full development and manufacturing
programs through commercialization.

Avid Bioservires reported a net loss of $10.47 million for the year
ended April 30, 2020, a net losses of $4.21 million for the year
ended April 30, 2019, and a net loss of $21.81 million for the year
ended April 30, 2018.  As of April 30, 2020, the Company had
$107.62 million in total assets, $65.72 million in total
liabilities, and $41.89 million in total stockholders' equity.


AVID BIOSERVICES: To Hold a Virtual-Only Annual Meeting on Oct. 20
------------------------------------------------------------------
Avid Bioservices, Inc. will hold its 2020 Annual Meeting of
Stockholders solely by means of remote communication (i.e., a
virtual-only stockholder meeting).  This change is to protect the
safety, health and well-being of its stockholders, directors,
employees and the public during the COVID-19 pandemic.  As
previously announced, the Annual Meeting will be held on Tuesday,
Oct. 20, 2020 at 10:00 a.m. PDT.

Stockholders will not be able to attend the Annual Meeting in
person at a physical location.  However, the virtual Annual Meeting
will provide stockholders of record as of the close of business on
Aug. 24, 2020, the ability to participate, vote their shares and
ask questions during the meeting via audio webcast.

Despite the change to a virtual-only meeting, the proxy card or
voting instruction form, as applicable, included with
previously-distributed proxy materials will not be updated to
reflect the change from an in-person meeting to a virtual-only
meeting and may be used to vote shares in connection with the
Annual Meeting.

As provided in the company's proxy materials, an online portal is
available to stockholders at www.proxyvote.com where stockholders
can view and download the company's proxy materials and fiscal year
2020 Annual Report and vote their shares in advance of the Annual
Meeting.  Stockholders may vote their shares during the Annual
Meeting (up until the closing of the polls) by following the
instructions available at
www.virtualshareholdermeeting.com/CDMO2020 during the meeting.

To be admitted to the virtual-only Annual Meeting, stockholders
should visit www.virtualshareholdermeeting.com/CDMO2020 and enter
the 16-digit control number found on their Important Notice
Regarding the Availability of Proxy Materials, their proxy card or
the instructions that accompanied their proxy materials.

Below are additional details on how stockholders can participate in
the virtual-only Annual Meeting:

   * Access the meeting platform beginning at 9:45 a.m. PDT on
     Oct. 20, 2020.

   * Vote during the Annual Meeting by following the instructions
     available on the meeting website during the meeting.

   * Submit a question during the meeting by visiting
     www.virtualshareholdermeeting.com/CDMO2020 and entering the
     stockholder's 16-digit control number and submitting the
     question in the "Ask a Question" field.

   * If any difficulties are encountered while accessing the
     virtual meeting, contact the technical support number that
     will be posted on the Virtual Shareholder Meeting log-in
     page.  Technical support will be available beginning at 9:45
     a.m. PDT on Oct. 20, 2020 and will remain available until     

     the meeting has ended.

   * A list of stockholders entitled to vote will be available
     for inspection by stockholders of record for any legally
     valid purpose related to the Annual Meeting during the
     Annual Meeting by following the link provided when
     stockholders login to
     www.virtualshareholdermeeting.com/CDMO2020 and for a period
     of ten days prior to the Annual Meeting by sending a request
     to corpsecretary@avidbio.com.

Whether or not stockholders plan to attend the virtual-only Annual
Meeting, the company urges stockholders to vote and submit their
proxies in advance of the meeting by one of the methods described
in the proxy materials.

                       About Avid Bioservices

Avid Bioservices -- http://www.avidbio.com/-- is a dedicated
contract development and manufacturing organization (CDMO) focused
on development and CGMP manufacturing of biopharmaceutical drug
substances derived from mammalian cell culture.  The company
provides a comprehensive range of process development, CGMP
clinical and commercial manufacturing services for the
biotechnology and biopharmaceutical industries.  With over 27 years
of experience producing monoclonal antibodies and recombinant
proteins, Avid's services include CGMP clinical and commercial drug
substance manufacturing, bulk packaging, release and stability
testing and regulatory submissions support. For early-stage
programs, the company provides a variety of process development
activities, including upstream and downstream development and
optimization, analytical methods development, testing and
characterization.  The scope of its services ranges from standalone
process development projects to full development and manufacturing
programs through commercialization.

Avid Bioservires reported a net loss of $10.47 million for the year
ended April 30, 2020, a net losses of $4.21 million for the year
ended April 30, 2019, and a net loss of $21.81 million for the year
ended April 30, 2018.  As of April 30, 2020, the Company had
$107.62 million in total assets, $65.72 million in total
liabilities, and $41.89 million in total stockholders' equity.

"We currently anticipate that our cash and cash equivalents as of
April 30, 2020, excluding the aforementioned $4.4 million in loan
proceeds that were returned to the lender thereof in May 2020,
combined with our projected cash receipts from services to be
rendered under our existing customer contracts, will be sufficient
to fund our operations for at least the next 12 months from the
date of this Annual Report.

"In the event we are unable to generate sufficient cash flow to
support our current operations, we may need to raise additional
capital in the equity markets in order to fund our future
operations.  We may raise funds through the issuance of debt or
through the public offering of securities.  There can be no
assurance that these financings will be available on acceptable
terms, or at all. Our ability to raise additional capital in the
equity and debt markets is dependent on a number of factors
including, but not limited to, the market demand for our common
stock.  The market demand or liquidity of our common stock is
subject to a number of risks and uncertainties including, but not
limited to, our financial results and economic and market
conditions.  Further, global financial crises and economic
downturns, including those caused by widespread public health
crises such as the COVID-19 pandemic, may cause extreme volatility
and disruptions in capital and credit markets, and may impact our
ability to raise additional capital when needed on acceptable
terms, if at all.  If we are unable to fund our continuing
operations through these sources, we may need to restructure, or
cease, our operations.  In addition, even if we are able to raise
additional capital, it may not be at a price or on terms that are
favorable to us.  Any of these actions could materially harm our
business, financial condition, results of operations, and future
prospects," the Company stated in its Fiscal 2020 Annual Report.


AVISON YOUNG: S&P Lowers Senior Secured Term Loan Rating to 'B-'
----------------------------------------------------------------
S&P Global Ratings said it lowered its issue-level rating on Avison
Young (Canada) Inc.'s senior secured term loan due 2026 to 'B-'
from 'B' and revised its recovery rating on the debt to '3' from
'2'. The '3' recovery rating indicates S&P's expectation for
meaningful (50%-70%) recovery in the event of default.

At the same time, S&P affirmed its 'B-' long-term issuer credit
rating on the company. The outlook is stable.

"The rating action on the senior secured term loan reflects our
view of lower recovery in a hypothetical default scenario due to
higher draws on the company's revolving credit facility and lower
enterprise value because we lowered our emergence-level EBITDA to
C$52 million," S&P said.

For the rolling 12 months ended June 30, 2020, the company's EBITDA
was C$49.9 million. For the second quarter ended June 30, 2020,
total fee revenues declined by 32% year over year due to a 45% drop
in capital market sales and leasing revenue that accounts for 55%
of total fee revenues. Year-to-date transactional volume has
substantially decreased, but S&P's base-case assumption is for
Avison Young to recoup some of this lost revenue in the second half
of 2020 if market conditions improve.

To navigate through COVID-19 pressure, Avison Young obtained
temporary covenant waivers on its revolving credit agreement. The
waiver and amendment allow maximum total leverage of 6.25x through
the first and the second quarters of 2021 before stepping down to
5.25x in the third quarter of 2021. Consequently, there could be
higher draws on the revolver in a default scenario, leading to
lower recovery. Normally, the company's US$60 million revolving
credit agreement has a maximum total leverage ratio covenant of
5.25x and is only applicable if the amount outstanding under the
revolver exceeds 35% of the commitment. The company was covenant
compliant as of March 31, 2020 and June 30, 2020.

"Our affirmation of the issuer credit rating reflects our view that
Avison Young has taken substantial steps to mitigate the revenue
headwinds it faces in leasing and capital markets due to the
COVID-19 pandemic by prudently managing operating expenses. For
instance, EBITDA cash interest coverage declined slightly to 1.4x
for the rolling 12 months ended June 30, 2020, versus 1.5x at
year-end 2019," S&P said.

"We believe the company has adequate liquidity and there are no
near-term debt maturities or risks related to covenant breach," the
rating agency said.

As of June 30, total available liquidity was C$74 million, which
includes cash of about C$16 million, revolver availability of C$38
million, and undrawn capacity of C$20 million on Caisse de depot et
placement du Quebec (CDPQ) preferred shares (CDPQ is a Canada-based
institutional investor that made a C$250 million preferred equity
investment in July 2018). Avison Young also plans to enter into a
three-year, second-lien term loan facility of C$50 million with
CDPQ, which S&P believes will provide additional financial
flexibility.

"The stable outlook over the next 12 months reflects our
expectation of no near-term debt maturities, EBITDA cash interest
coverage of 1.2x-1.5x, sufficient cushion on the leverage covenant
under the revolving credit agreement, and adequate liquidity. At
the same time, our outlook considers potential revenue headwinds to
leasing and capital market sales activity due to pandemic-related
pressure," S&P said.

"We could lower the rating over the next 12 months, if the EBITDA
cash interest coverage ratio declines below 1.2x or liquidity
deteriorates," the rating agency said.

An upgrade is unlikely over the next 12 months.


BENEVIS LLC: Files for Chapter 11 to Sell Business
--------------------------------------------------
LT Smile Corporation, along with its subsidiaries Benevis Holding
Corporation, Benevis Corporation, Benevis, LLC, Benevis Affiliates,
LLC and Benevis Informatics LLC, announced that it has filed
voluntary petitions for relief in the Southern District of Texas
under Chapter 11 of the United States Bankruptcy Code to effectuate
a recapitalization and sale of the business, and to improve its
balance sheet and operating position.  

Benevis and its employees will continue their normal operations and
their support of high-quality dental care at supported dental
practices throughout the process.  

None of the Company's supported dental practices are part of the
Chapter 11 filing.

Benevis has secured committed financing from its current lenders;
including New Mountain Finance Corporation and several of its
credit investing affiliates, to bolster liquidity and enhance
ongoing operations during the reorganization process. The
prospective reorganization and sale process is intended to provide
access to incremental investment and growth capital, furthering the
Company in its mission to support high-quality, affordable dental
care.

Benevis and its supported practices have been taking innovative
steps to adapt to a changing marketplace severely impacted by the
COVID-19 pandemic and other economic challenges.

"The dental practices supported by Benevis provide the highest
quality dental services and care to millions of patients each year
and this reorganization process will enable those practices, with
the continued support of Benevis, to continue to do so" said Dr.
Dale Mayfield, Chief Clinical Officer.

Scott Hornbuckle, Chief Financial Officer for Benevis stated, "The
additional financing and the reorganization process will help us
strengthen our balance sheet and solidify our path to future
success. We look forward to continued investments in the future and
the continuation of our long history of supporting outstanding
dental care."

                      About Benevis Corp.

Benevis Corp. -- https://www.benevis.com/ -- provides non-clinical,
business support services to dental practices in 17 states.  The
company provides support services to almost 200 dental practices
across the U.S.

Benevis Corp. and its affiliates, including Benevis LLC, sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D.
Tex. Lead Case No. 20-33918) on Aug. 2, 2020.  At the time of the
filing, the Debtors had estimated assets of between $100 million
and $500 million and liabilities of between $1 billion and $10
billion.

Judge David R. Jones oversees the cases.

The Debtors tapped Jackson Walker LLP as their legal counsel,
Conway MacKenzie Management Services, LLC as restructuring advisor,
and Lincoln Partners Advisors, LLC as financial advisor.


BHF CHICAGO: Sets Bidding Procedures for Substantially All Assets
-----------------------------------------------------------------
BHF Chicago Housing Group B, LLC, filed with the U.S. Bankruptcy
Court for the Northern District of Illinois a notice of its
proposed bidding procedures in connection with the sale of
substantially all assets to PRE Holdings 15, LLC for $4.5 million,
subject to overbid.

After analyzing the ramifications of filing the Chapter 11 case,
and alternatives thereto, the Debtor believes the Chapter 11 case
will afford the Debtor the best means of preserving the value of
the Property, while securing a purchaser that will stabilize the
Property for the community and existing tenants.  The Chapter 11
case stands to protect the claims and interests of the Debtor's
tenants, creditors, the community, and other parties in interest.

The Debtor believes that any significant delay in embarking upon a
sale process is likely to have a material adverse effect on the
value of the Property, given the on-going Chicago winter effects on
the Property, the deteriorating state of the Property, and the
inability to financially respond to the needs of the few remaining
tenants.  

The principal terms of the Agreement are:

     a. Seller: BHF Chicago Housing Group B, LLC (Icarus)

     b. Stalking Horse Bidder: PRE Holdings 15, LLC

     c. Bond Trustee: UMB Bank, N.A., as duly-appointed successor
trustee

     d. Purchaser Price: $4.5 million

     e. Acquired Assets: Acquired assets will consist generally of
the Property as set forth and fully described in the Agreement and
Exhibit A thereto.  The "Property" means the improved real property
located in Chicago, Illinois consisting of 545 low income housing
units in 45 buildings as more fully described in the Agreement.

     f. Earnest Money Deposit: $150,000, consisting of: (i) $50,000
deposited with Clark Hill PLC to apply towards attorneys' fees and
costs incurred in connection with filing the Case; and (ii)
$100,000 deposited with the Title Company

     g. Cure Amounts: The Successful Bidder will be responsible for
paying all amounts necessary to cure any defaults under the Assumed
Service Contracts and for satisfying the requirements regarding
adequate assurance of future performance.

     h. Closing Consideration Adjustment: Customary closing
consideration adjustment

     i. Representations and Warranties: The Successful Bidder is
purchasing the Property in its "as is, where is" condition, with
all faults and with all physical and latent and patent defects, and
specifically and expressly without any warranties, representations
or guarantees, either express or implied.

     j. Employment of Insiders: None

The salient terms of the Bidding Procedures are:

     a. Bid Deadline: Oct. 23, 2020

     b. Initial Bid: Must equal or exceed the sum of: (A) cash in
the amount of $4.5 million; plus (B) $50,000 in cash; plus (C) The
Break-Up Fee (3% of the Purchase Price) and Expense Reimbursement
($100,000)

     c. Deposit: 5% of the bid

     d. Auction:  If one or more Qualified Bids are submitted, in
addition to the Stalking Horse Bid, the Debtor will conduct an
auction on Oct. 27, 2020 at 10:00 a.m. (CT), at Clark Hill PLC, 130
E. Randolph Street, Suite 3900, Chicago, Illinois 60601, via video
conference if necessary, to determine the highest and best offer
with respect to the Property or any portion thereof.  

     e. Bid Increments: $25,000 in cash

     f. Sale Hearing: Nov. 3, 2020 at 11:00 a.m. (CT)

     g. Sale Objection Deadline: Oct. 30, 2020

     h. Closing: Each bid must provide for a closing to occur on or
within 14 days of entry of the Sale Order, unless continued by
agreement.

     i. Bid Protections: Equal to (i) payment of a break-up fee in
an amount equal to 3% of the Stalking Horse Bid; and (ii) any
properly documented, reasonable costs and expenses incurred by
Stalking Horse Bidder in negotiating and documenting the Proposed
Transaction in an amount equal to 1% of the Stalking Horse Bid

     j. The Trustee will be allowed to credit bid for the
Property.

Three business days of entry of the Bid Procedures Order, the
Debtor will cause the Sale Notice to be served on the Sale Notice
Parties.

The Debtor will market the Property and solicit offers consistent
with the Bid Procedures through the Bid Deadline.  In this way, the
number of bidders that are eligible to participate in a competitive
Auction process will be maximized.

The Debtor accordingly asks authority to convey the Property to the
Successful Bidder, upon its receipt of the purchase price (net of
closing costs), free and clear of all liens, claims, rights,
interests, charges, and encumbrances, with any such liens, claims,
rights, interests, charges, and encumbrances to attach to the
proceeds of the Sale.

Finally, to maximize the value received for the Property, the
Debtor asks to close the Sale as soon as possible after the Sale
Hearing.  Accordingly, it asks that the Court waives the 14-day
stay period under Bankruptcy Rules 6004(h) and 6006(d).

A telephonic hearing on the Motion is set for Sept. 15, 2020 at
10:00 a.m. (CT). via Court Solutions, LLC.  Any party that objects
to the relief sought in the Motion must file a Notice of Objection
no later than two business days before the date of presentment.   

A copy of the Agreement and the Bidding Procedures is available at
https://tinyurl.com/y52mka2j from PacerMonitor.com free of charge.

             About BHF Chicago Housing Group B

BHF Chicago Housing Group B, LLC, is the owner of fee simple title
to certain parcels of real property, all in Chicago, Illinois.  

BHF Chicago Housing Group B sought Chapter 11 protection (Bankr.
N.D. Ill. Case No. 20-12453) on June 15, 2020.  The petition was
signed by Andrew Belew, president, BHF as manager.  The Debtor was
estimated to have assets in the range of $10 million to $50 million
and $50 million to $100 million in debt.  The Debtor tapped Scott
N. Schreiber, Esq., Kevin H. Morse, Esq., and Samuel J. Tallman,
Esq., at Clark Hill PLC, as counsel.


BJ SERVICES: Committee Taps Raymond James as Financial Advisor
--------------------------------------------------------------
The official committee of unsecured creditors of BJ Services, LLC
and affiliates seeks approval from the U.S. Bankruptcy Court for
the Southern District of Texas to employ Raymond James &
Associates, Inc. as its financial advisor and investment banker.

The services that will be provided by Raymond James are as follows:


     (i) assist the committee in reviewing and analyzing Debtors'
business, operations, properties, financial condition and
interested parties;

     (ii) assist the committee in evaluating Debtors' debt
capacity, advise the committee generally as to available financing
and assist in the determination of an appropriate capital
structure;

     (iii) assist the committee in evaluating potential transaction
alternatives and strategies;

     (iv) assist the committee in preparing documentation in
connection with a transaction;

     (v) assist the committee in identifying interested parties;

     (vi) contact interested parties that meet certain industry,
financial, and strategic criteria and assist the committee in
negotiating and structuring a transaction;

     (vii) advise the committee as to potential business
combination transactions;

     (viii) advise the committee on tactics and strategies for
negotiating with holders of Debtors' debt or other claims of the
Debtors;

     (ix) advise the committee on the timing, nature and terms of
any new securities in connection with any restructuring plan;

     (x) produce documents requested by any of the stakeholders in
connection with any litigated matter in the Bankruptcy Court;

     (xi) provide testimony on behalf of the committee upon the
request of committee counsel; and

     (xii) participate in committee meetings as determined by the
committee to be appropriate, and, upon request, provide periodic
status reports and advice with respect to matters falling within
the scope of Raymond James' retention.

Raymond James will be paid as follows:

     (i) Debtors will pay Raymond James a non-refundable initial
fee of $150,000 upon receipt of the firm's invoice and a monthly
advisory fee of $150,000 during the term of the agreement.
Twenty-five percent of each monthly advisory fee will be credited
toward any transaction fee.  Additionally, Debtors will pay Raymond
James $1,000 for its access to electronic financial databases.

     (ii) If any transaction closes regardless of whether Raymond
James actually procured an agreement for the transaction, Debtors
will pay the firm up to $1.25 million at closing.  

Geoffrey Richards, managing director at Raymond James, disclosed in
court filings that the firm is a "disinterested person" as that
term is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

       Geoffrey Richards  
       Raymond James & Associates, Inc.
       880 Carillon Parkway   
       St. Petersburg, FL 33716
       Telephone: (212) 885-1885
       Email: geoffrey.richards@raymondjames.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.


BONAVISTA ENERGY: Egan-Jones Withdraws CC Sr. Unsec. Debt Ratings
-----------------------------------------------------------------
Egan-Jones Ratings Company, on September 11, 2020, withdrew its
'CC' foreign currency and local currency senior unsecured ratings
on debt issued by Bonavista Energy Corporation. EJR also withdrew
its D rating on commercial paper issued by the Company.

Headquartered in Calgary, Canada Bonavista Energy Corporation
produces oil and natural gas.



BOYCE HYDRO: Blames Residents & Regulators for Bankruptcy
---------------------------------------------------------
Madeleine Ngo, writing for Bloomberg News, reports that the manager
of a bankrupt Michigan dam company is blaming actions by regulators
and residents for contributing to his dam's collapse, which left
entire communities flooded.  "I am frustrated by years of
unwillingness by homeowners to contribute to improvements that
could have improved the dam for everyone, and with the regulatory
decisions that directly caused this catastrophe," said Lee Mueller,
a managing member at Boyce Hydro LLC and Boyce Hydro Power LLC, in
a bankruptcy declaration filed August 3, 2020.

                        About Boyce Hydro

Boyce Hydro LLC is an Edenville dam that was privately owned and
operated by Boyce Hydro Power, a company based in Edenville, which
also owned three other hydroelectric facilities.

On July 31, 2020, Boyce Hydro, LLC, and Boyce Hydro Power, LLC,
sought Chapter 11 protection (Bankr. E.D. Mich. Case No. 20-21214
and 20-21215).  Boyce Hydro, LLC, and Boyce Hydro Power were each
estimated to have $10 million to $50 million in assets and $1
million to $10 million in liabilities as of the bankruptcy filing.


GOLDSTEIN & MCCLINTOCK LLP, led by Matthew E. McClintock, Esq., is
the Debtors' counsel.


BROWNIE'S MARINE: Incurs $414K Net Loss in Second Quarter
---------------------------------------------------------
Brownie's Marine Group, Inc. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing a net loss
of $414,042 on $1.32 million of total net revenues for the three
months ended June 30, 2020, compared to a net loss of $240,306 on
$870,720 of total net revenues for the three months ended June 30,
2019.

For the six months ended June 30, 2020, the Company reported a net
loss of $710,735 on $1.95 million of total net revenues compared to
a net loss of $504,351 on $1.39 million of total net revenues for
the six months ended June 30, 2019.

As of June 30, 2020, the Company had $2.25 million in total assets,
$1.66 million in total liabilities, and $588,919 in total
stockholders' equity.

At June 30, 2020 the Company has an accumulated deficit of
$12,315,253.  The Company said that despite a working capital
surplus of approximately $510,000 at June 30, 2020, the continued
losses and cash used in operations raise substantial doubt as to
its ability to continue as a going concern.  The Company's ability
to continue as a going concern is dependent upon the Company's
ability to increase revenues, control expenses, raise capital, and
to continue to sustain adequate working capital to finance its
operations.  The failure to achieve the necessary levels of
profitability and cash flows would be detrimental to the Company.
The condensed consolidated financial statements do not include any
adjustments that might be necessary if the Company is unable to
continue as a going concern.

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

https://www.sec.gov/Archives/edgar/data/1166708/000149315220017803/form10-q.htm

                     About Brownie's Marine

Headquartered in Pompano Beach, Florida, Brownie's Marine Group,
Inc., through its wholly owned subsidiaries, designs, tests, and
manufactures tankless dive systems, yacht-based SCUBA air
compressor and nitrox generation fill systems and acts as the
exclusive distributor for North and South America for Lenhardt &
Wagner GmbH compressors in the high-pressure breathing air and
industrial gas markets.

Liggett & Webb, P.A., in Boynton Beach, Florida, the Company's
auditor since 2018, issued a "going concern" qualification in its
report dated June 26, 2020, citing that the Company has experienced
net losses for consecutive periods and has a large accumulated
deficit.  These factors raise substantial doubt about the Company's
ability to continue as a going concern.


CALFRAC WELL SERVICES: Rejects Competing Offer From Wilks Brothers
------------------------------------------------------------------
Paula Sambo, writing for Bloomberg News, reports that Wilks
Brothers LLC has made a competing proposal to recapitalize
struggling energy company Calfrac Well Services Ltd. and criticized
management's deal as favoring insiders.

The offer, which seeks to displace the company's restructuring plan
announced in July, would significantly deleverage Calfrac and
provide a better recovery to stakeholders, Wilks said in a
statement.  It added that the plan advanced by Calfrac would
"unfairly enrich certain key insiders" in the company.

Wilks is the owner of Calfrac competitor Profrac Services.  The
proposal is fully committed, not subject to any financing or due
diligence conditions and capable of being immediately implemented,
it said.

Under the original plan, Calfrac's unsecured notes would be
exchanged for shares and current shareholders would see their stake
reduced to eight per cent of Calfrac's equity.

Wilks Brothers, LLC of Cisco, Texas, countered that proposal on
Aug. 4 with one that it said would leave Calfrac with less debt in
return for a smaller equity stake.

But Calfrac responded that Wilks's proposed restructuring plan
doesn't have sufficient support from unsecured noteholders and so
it will continue with a debt-for-stock swap announced in July.

                   About Calfrac Well Services

Calfrac Well Services Ltd. is a Calgary, Alberta-based provider of
hydraulic fracturing services to exploration and production (E&P)
companies.

Calfrac Well Services in missed its June 15, 2020 interest payment
on its senior unsecured notes due 2026.

Calfrac in July 2020 commenced in the Court of Queen's Bench of
Alberta (Calgary) proceedings under Sec. 192 of the Canadian
Business Corporation Act, R.S.C. 1985 ("CBCA").

Calfrac Well Services Corp. filed a Chapter 15 case (Bankr. S.D.
Tex. Case No. 20-bk-33529) on July 13, 2020, to seek recognition of
its Canadian proceedings.  The Hon. David R Jones is the case
judge.  Porter Hedges LLP is counsel in the U.S. case.


CAMBER ENERGY: Files Amended Form S-4 to Address SEC Comments
-------------------------------------------------------------
Camber Energy, Inc. and Viking Energy Group, Inc. reports that on
Sept. 4, 2020, Camber filed with the Securities and Exchange
Commission, an amended Registration Statement on Form S-4,
including a preliminary joint proxy statement relating to the
planned merger between Viking and Camber, which addressed SEC
comments that Camber received on the original Form S-4 filed on
June 4, 2020.

The companies are now awaiting further comments on the Form S-4
from the SEC, which the parties anticipate being minor, if any are
received at all, and/or approval of the SEC to move forward with
finalizing the Form S-4 and seeking effectiveness thereof. Once
Camber has cleared comments from the SEC on the Form S-4, the
parties plan to promptly move forward with setting the record dates
for their special meetings to seek stockholder approvals for the
merger and other items set forth in the joint proxy
statement/prospectus included in the Form S-4.

To date, Camber and Viking have each satisfied nearly all of their
respective conditions to closing the merger, provided that such
merger remains subject to certain remaining conditions to closing,
including, effectiveness of the Form S-4, approval of the
stockholders of each of Camber and Viking of the merger and certain
of the other proposals set forth in the Joint Proxy, and approval
of the NYSE American for the continued listing of Camber's common
stock following the merger, which the parties anticipate requiring
the combined company to satisfy the initial listing standards of
the NYSE American.

The following conditions to closing have been completed:

   * Viking to file its Annual Report on Form 10-K for Viking’s
     December 31, 2019 fiscal year end

   * Viking to file Current Report on Form 8-K/A including
     financial statements related to its February 3, 2020
     acquisition

   * Camber to file Registration Statement on Form S-4 with
     preliminary joint proxy statement with the Securities and
     Exchange Commission

   * Camber and Viking to receive Fairness Opinions regarding the
     planned merger

   * Viking to file its Quarterly Report on Form 10-Q for the
     quarter ended March 31, 2020

   * Camber to file its Annual Report on Form 10-K for Camber's
     March 31, 2020 fiscal year end

   * Camber to file its Quarterly Report on Form 10-Q for the
     quarter ended June 30, 2020

   * Viking to file its Quarterly Report on Form 10-Q for the
     quarter ended June 30, 2020
   * Camber to re-file amended Registration Statement on Form S-4
     with the Securities and Exchange Commission

Estimated to be completed by fall 2020:

   * Camber and Viking to receive Stockholder Approval

   * Camber to receive NYSE American approval for the continued
     listing of its common stock following the merger

   * Closing of the merger

                      About Camber Energy

Based in Houston, Texas, Camber Energy -- http://www.camber.energy
-- is primarily engaged in the acquisition, development and sale of
crude oil, natural gas and natural gas liquids from various known
productive geological formations, including from the Hunton
formation in Lincoln, Logan, Payne and Okfuskee Counties, in
central Oklahoma; the Cline shale and upper Wolfberry shale in
Glasscock County, Texas; and Hutchinson County, Texas, in
connection with its Panhandle acquisition which closed in March
2018.

Camber Energy reported a net loss of $3.86 million for the year
ended March 31, 2020, compared to net income of $16.64 million for
the year ended March 31, 2019.  As of June 30, 2020, the Company
had $13.91 million in total assets, $1.71 million in total
liabilities, $6 million in temporary equity, and $6.20 million in
total stockholders' equity.

Marcum LLP, in Houston, Texas, the Company's auditor since 2015,
issued a "going concern" qualification in its report dated June 29,
2020, citing that the Company has incurred significant losses from
operations and had an accumulated deficit as of March 31, 2020 and
2019.  These factors raise substantial doubt about its ability to
continue as a going concern.


CAMELOT UK: S&P Affirms 'B' ICR on Announced Financing
------------------------------------------------------
S&P Global Ratings affirmed its 'B' issuer credit rating on
U.S.-based intellectual property (IP) and scientific information
services provider Camelot UK Holdco Ltd. (doing business as
Clarivate) following the company's announcement of debt financing
plans for its proposed acquisition of CPA Global.  The rating
agency removed all of its ratings on the company from CreditWatch,
where it placed them with positive implications on July 29, 2020.

At the same time, S&P is assigning its 'B' issue-level rating and
'3' recovery rating to the company's proposed incremental term loan
and affirming its 'B' issue-level rating on its existing senior
secured debt. Its '3' recovery rating on the senior secured debt
remains unchanged.

The company's leverage and cash flow metrics will improve following
its integration of CPA Global.

Clarivate plans to acquire CPA in a stock-for-stock transaction
using 218 million of its common shares, roughly $445 million in
available cash, and the proceeds from the proposed pari passu $1.6
billion incremental senior secured term loan.

"We view the company's use of equity to fund the majority of the
transaction as favorable due to the size of CPA's EBITDA base and
its growth potential relative to the incremental $1.6 billion debt
burden," S&P said.

"In addition, we believe that Clarivate has the opportunity to
realize material cost efficiencies through its integration of CPA
by streamlining its work processes and reducing its overhead," the
rating agency said.

Specifically, S&P expects the combination to expand the company's
consolidated EBITDA margins toward the 30% area by 2021. On a pro
forma consolidated basis, S&P expects Clarivate's leverage to
decline to the 6x area in 2021 from the mid-7x area in 2020 on
improving EBITDA generation stemming from both top-line organic
growth and EBITDA margin expansion opportunities. The rating agency
believes the company's free operating cash flow (FOCF) to debt will
improve to the 8%-11% range by 2021.

The company's pro forma equity ownership indicates a less
aggressive financial policy.

Clarivate's current private-equity owners, Onex and Baring Private
Equity Asia, have substantially reduced their equity positions in
the company over the past 18 months through various equity
issuances. In addition, they will further reduce their stakes in
Clarivate through the proposed stock-for-stock acquisition of CPA
Global, which will shrink their equity positions to less than 20%
on a pro forma basis. As part of the transaction, CPA's largest
shareholder, Leonard Green, will be paid in Clarivate shares and
hold an approximately 25% equity stake in the company.

"While these private-equity investors will hold a substantial
interest in Clarivate after the completion of the transaction, we
do not believe that they will exert majority joint control over the
company's financial policy," S&P said.

"Our assessment of a less aggressive financial policy is further
supported by Clarivate's stated goal to significantly reduce its
leverage over the next two years. Therefore, we revised our
financial policy assessment for Clarivate to neutral from FS-6 and
have revised our credit metrics to net its available cash from its
adjusted debt amounts," the rating agency said.

S&P expects the addition of CPA Global to expand Clarivate's IP
management capabilities.

CPA is a global company focused on IP management and workflow
solutions to support the patent and trademark needs of its client
base. S&P believes the company's IP service offerings will benefit
Clarivate's current IP platform and help round out its portfolio of
service offerings. Specifically, S&P expects CPA's focus on
renewal, validation, litigation, and commercialization in its
patent services business to complement the patent origination
services Clarivate currently offers. CPA will also provide the
company with a favorable customer base of corporate and legal
clients and support its expansion into international revenue
opportunities due to its client reach in Europe and Asia Pacific.
Importantly, S&P believes the addition of CPA's services will
improve Clarivate's recurring revenue streams because of CPA's good
client retention given that its customers utilize its patent
renewal services year after year. Because of these positive revenue
dynamics, S&P expects the combined company's organic revenue to
expand by a minimum of the low- to mid-single digit percent area
over the next two years.

"The positive outlook reflects our expectation that Clarivate's
leverage and cash flow to debt will improve materially following
its acquisition of CPA Global due to its use of equity to partially
fund the acquisition. In addition, we believe the company may
expand its EBITDA margin by realizing cost efficiencies as it
integrates CPA," S&P said.

"The outlook also reflects our view that the addition of CPA's
patent renewal services and related product offerings will support
Clarivate's business by strengthening its IP platform, allowing the
company to expand its client reach through an improved portfolio of
IP management services," the rating agency said.

S&P could raise its rating on Clarivate if it successfully
integrates CPA such that the rating agency expects the company to
increase its revenue by the mid-single-digit percent range,
anticipate it will reduce its leverage below the mid-5x area and
sustain it at that level, and generate FOCF to debt of greater than
the high-single-digit percent area on a sustained basis.

"We could revise our outlook on Clarivate to stable if we believe
its will face challenges in integrating the acquisition and
expanding its EBITDA margins through cost efficiencies such that it
is unable to reduce its leverage and generate FOCF to debt of
substantially above the mid-single-digit percent area," the rating
agency said.


CARSON CREEK: Seeks to Hire Hajjar Peters as Legal Counsel
----------------------------------------------------------
Carson Creek Ranch Parking, LLC seeks approval from the U.S.
Bankruptcy Court for the Western District of Texas to hire Hajjar
Peters, LLP as its legal counsel.

The services that will be provided by Hajjar Peters are as follows:


     a. give Debtor legal advice with respect to its powers and
duties;

     b. advise Debtor of its responsibilities under the Bankruptcy
Code;

     c. assist the Debtor in preparing and filing the bankruptcy
schedules, statement of affairs, monthly financial reports and
other necessary documents;

     d. represent Debtor in adversary proceedings and other
contested and uncontested matters;

     e. represent Debtor in the negotiation and documentation of
any sales or refinancing of its property; and

     f. assist Debtor in the formulation of a plan of
reorganization and in taking the necessary steps to obtain
confirmation of the plan.

The firm will be paid at hourly rates as follows:

     Todd Headden                      $300
     Other attorneys                   $250-$425
     Paralegal                         $150

Hajjar Peters received the sum of $8,717 prior to Debtor's
bankruptcy filing.

Todd Headden, Esq., at Hajjar Peters, disclosed in court filings
that the firm has no connections with Debtor's creditors, the U.S.
trustee and its employees or any other "party in interest."

Hajjar Peters can be reached through:

     Todd Headden, Esq.
     Hajjar Peters LLP
     3144 Bee Caves Rd
     Austin, TX 78746
     Telephone: (512) 637-4956
     Facsimile: (512) 637-4958
     Email: theaddden@legalstrategy.com

                 About Carson Creek Ranch Parking

Carson Creek Ranch Parking, LLC sought protection under Chapter 11
of the Bankruptcy Code (Bankr. W.D. Texas Case No. 20-10876) on
Aug. 3, 2020. At the time of the filing, Debtor had estimated
assets of less than $50,000 and liabilities of between $100,001 and
$500,000.  Judge Tony M. Davis oversees the case.  Todd Headden,
Esq., at Hajjar Peters LLP, serves as Debtor's legal counsel.


COMCAR INDUSTRIES: TFI Acquires CCC for $6.8 Million
----------------------------------------------------
TFI International Inc. (NYSE and TSX: TFII), a North American
leader in the transportation and logistics industry, on Sept. 9,
2020, announced the acquisition of substantially all the assets of
CCC Transportation ("CCC") and related real estate and equipment.


Primarily a bulk carrier, CCC was previously a subsidiary of Comcar
Industries, Inc., which along with its other subsidiaries filed
Chapter 11 petitions in the U.S. Bankruptcy Court on May 17, 2020.
TFI International, which paid a total consideration of U.S. $6.8
million for CCC, its associated real estate and additional
equipment, had purchased both CT Transportation and MCT
Transportation as part of the same bankruptcy proceeding, as
previously announced.

Founded in 1953 and headquartered in Auburndale, FL, CCC is a
leading truckload carrier in the Southeast U.S. and one of
Florida's largest intrastate motor carriers, offering cement
hauling services primarily in Georgia and Florida, as well as dry
van, intermodal, dedicated fleets, logistics and retail direct
delivery. CCC has approximately 80 drivers operating nearly 100
tractors and more than 80 trailers, and generates approximately
U.S. $10 million in annual revenue.  As part of the transaction,
TFI also acquired real estate and more than 90 additional trailers.
CCC Transportation will become part of TFI International's
Truckload segment.

"We welcome the CCC team to the TFI family of companies and are
pleased to strategically bring onboard several additional
attractive assets of Comcar, following our earlier acquisitions of
CT and MCT assets," stated Alain Bédard, Chairman, President and
Chief Executive Officer of TFI International.  "CCC fits nicely
with our existing BTC southern cement business and represents
another important addition to our expanding specialized Truckload
operations."

                    About Comcar Industries

Comcar Industries -- https://comcar.com/ -- is a transportation and
logistics company headquartered in Auburndale, Fla., with over 40
strategically-located terminal and satellite locations across the
United States.

On May 17, 2020, Comcar Industries and related entities sought
Chapter 11 protection (Bankr. D. Del. Lead Case No. 20-11120). In
the petitions signed by CRO Andrew Hinkelman, Comcar Industries was
estimated to have $50 million to $100 million in assets and
liabilities as of the bankruptcy filing.

The Hon. Laurie Selber Silverstein is the presiding judge.

The Debtors tapped DLA Piper LLP (US) as counsel; FTI Consulting,
Inc. as financial advisor; and Bluejay Advisors, LLC as investment
banker.  Donlin Recano & Company, Inc. is the claims agent.




DATABASEUSA.COM LLC: Wins Suit Against Spahmhaus Project
--------------------------------------------------------
Ray Schultz, writing for Media Post, reports that DatabaseUSA, a
provider of data and email marketing services, has won a victory
over The Spamhaus Project.  A federal court found that Spamhaus
defamed the company and interfered with its business relations by
"wrongfully listing DatabaseUSA.com on Spamhaus's domain block list
from 2017 to the present."

DatabaseUSA suffered "damage to its reputation, a loss of
customers, and loss of potential revenue as a result of Spamhaus's
defamation and tortious interference," wrote Senior U.S. District
Judge Joseph F. Bataillon in an opinion on file with the U.S.
District Court for the District of Nebraska.

DatabaseUSA, which is now in Chapter 11 bankruptcy, sought $1 in
damages.  However, Bataillon wrote in an analysis that "DatabaseUSA
has demonstrated an irreparable injury."

Bataillon ordered Spamhaus to publish a statement on its website
saying that "DatabaseUSA.com LLC was wrongfully included on the
blocklist from May 2017 until the date of this order."

                   About DatabaseUSA.com LLC

DatabaseUSA.com LLC -- https://databaseusa.com/ -- provides
full-service database and email marketing solutions. It offers
customers a database of 15 million businesses.

DatabaseUSA.com sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Nev. Case No. 19-10001) on Jan. 1, 2019.
At the time of the filing, the Debtor was estimated to have assets
of $10 million to $50 million and liabilities of $10 million to $50
million as of the bankruptcy filing. The case is assigned to Judge
Bruce T. Beesley. The Debtor tapped Dvorak Law Group, LLC, as its
bankruptcy counsel.



Davis Wright Tremaine LLP: An Overview of the SBR Act
-----------------------------------------------------
Davis Wright Tremaine LLP wrote an article on JD Supra titled
"Small Business Reorganization Act."

The Small Business Reorganization Act, which came into effect in
February 2020, significantly changes the bankruptcy process for
small businesses.

Before the SBRA

Prior to the enactment of the SBRA, businesses had two primary
options when filing for bankruptcy. They could file for either
Chapter 7 or Chapter 11 bankruptcy. Chapter 7 bankruptcy requires
the appointment of a trustee over the non-exempt assets of the
debtor. The trustee is tasked with selling those assets and using
the proceeds to pay creditors. This is not a good option for a
business hoping to make it through bankruptcy.

On the other hand, Chapter 11 bankruptcy allows the debtor to
maintain control of its assets. With oversight from a bankruptcy
court, the debtor may reorganize its business and debts. The
business must develop a plan to pay creditors and have that plan
approved by the court. A company that has filed for Chapter 11
bankruptcy must also comply with various additional reporting and
procedural requirements. While filing bankruptcy under Chapter 11
gives a business a better chance of survival, it is also more
expensive, and not all companies are able to afford it.

The SBRA

So how does the Small Business Reorganization Act change things?
Most fundamentally, the SBRA makes Chapter 11 a better and more
accessible path for a business seeking to reorganize through
bankruptcy.

Under the SBRA, qualifying debtors are able to retain control of
their assets as in a Chapter 11 filing. As in a Chapter 7 filing,
however, a trustee is appointed, albeit with different and
significantly more constrained powers. The role of this trustee is
not to sell the company’s assets as in Chapter 7, but rather to
help guide the company as it navigates the bankruptcy process. As
in Chapter 11 bankruptcy, a company filing for bankruptcy pursuant
to the SBRA is required to develop a plan to pay creditors.

In general, a business with less than $2,725,625 in liquidated,
non-contingent debt is eligible for reorganization under the SBRA
(but note that pursuant to the CARES Act, this amount has been
increased to over $7 million until March 2021).

The SBRA provides that if a business faithfully makes the payments
laid out in its plan, its unsecured debts may be discharged after
three to five years has elapsed. In such a scenario, the owners of
the business are able to retain their interest in the business.
Additionally, the SBRA eliminates some of the reporting and
procedural requirements set forth in Chapter 11. This streamlines
the process and makes things easier for debtors.

Conclusion

At its core, the SBRA was passed with the objective of making
bankruptcy filings faster and cheaper for small businesses. If your
family business is considering filing for bankruptcy, contact legal
counsel to find out if the SBRA helps you.



DEMLOW PRODUCTS: Proposes a Wilson Auction of Remaining Inventory
-----------------------------------------------------------------
Demlow Products, Inc., asks the U.S. Bankruptcy Court for the
Eastern District of Michigan to authorize the auction sale of its
remaining equipment, tools, and machines ("Personal Property") and
raw materials, work in progress, and finished goods ("Inventory").

The Debtor has previously filed motions for similar relief under
Section 363.  In a previous motions the Debtor moved to sell and
sold various equipment used in the manufacture of automotive
springs.  The Motion contemplates an auction to sell the remaining
Personal Property & Inventory.  The remaining Personal Property &
Inventory is general machining and manufacturing equipment, and
mild-steel wire and finished springs (mostly obsolete).  

The Personal Property & Inventory is impressed with a valid lien to
the benefit of First Premier Bank, formerly known as Federal Bank
of the Midwest in the remaining amount of approximately $150,000.
No other party has a secured interest in the Personal Property &
Inventory.

The Debtor has sought the Bank's concurrence in the relief sought
in the Motion and it has agreed to an auction sale for the
remainder of the Debtor's Personal Property & Inventory.

The proposed auction-broker is Wilson Auction & Realty Co. of
Bryan, Ohio.  The Debtor will ask approval of said auction-broker
in a separate motion.  

From the auction sale proceeds of the Personal Property &
Inventory, the Bank will be paid the remainder of the outstanding
balance of approximately $150,000, paying in full its secured claim
against the sold Personal Property & Inventory.

The Debtor asks authority to sell the Personal Property & Inventory
and to convey the proceeds to the Bank to satisfy said Bank's
secured claim.  

Other than as provided in the Motion, the sale of the Personal
Property & Inventory will be on an "as is, where is" basis without
any representations or warranties of any kind, nature or
description by the Debtor.

The Debtor, with the assistance of the auction-broker, will market
the Personal Property & Inventory and by targeted marketing for a
period of note less than 14 days prior to auction, which will occur
over a period of not less than 10 days.

Finally, the Debtor asks that the stays imposed by Bankruptcy Rules
6004(g) and 6006(d) be waived in any resulting Sale Order.

                    About Demlow Products

Demlow Products, Inc. -- https://demlowproducts.com/ -- is an
international supplier of formed wire products.  Demlow Products is
a privately held and founded in 1967.

Demlow Products sought protection under Chapter 11 of the US
Bankruptcy Code (Bankr. E.D. Mich. Case No. 19-57161) on Dec. 7,
2019.  In the petition signed by James Demlow, president, the
Debtor was estimated to have $500,000 to $1 million in assets and
$1 million to $10 million in liabilities.  Don Darnell, Esq. at
Darnell, PLLC, represents the Debtor.


DESTINATION HOPE: Seeks to Hire Wernick Law as Legal Counsel
------------------------------------------------------------
Destination Hope, Inc. seeks approval from the U.S. Bankruptcy
Court for the Southern District of Florida to hire Wernick Law,
PLLC as its legal counsel.

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

     a. give advice to Debtor with respect to its powers and
duties;

     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 papers;

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

     e. represent Debtor in negotiations with creditors in the
preparation of a plan.

The firm's services will be provided mainly by Aaron Wernick, Esq.,
who will be paid at the rate of $500 per hour.  Paralegals charge
$150 per hour.

The firm received a retainer of $100,000 from Debtor prior to the
filing of its Chapter 11 case.

Mr. Wernick disclosed in court filings that he and his firm are
"disinterested persons" as that term is defined in Section 101(14)
of the Bankruptcy Code.

The firm can be reached through:

     Aaron A. Wernick, Esq.
     Wernick Law, PLLC
     2255 Glades Road, Suite 324A
     Boca Raton, Florida 33431
     Telephone: (561) 961-0922
     Facsimile: (561) 431-2474
     Email: awernick@wernicklaw.com

                    About Destination Hope Inc.

Based in Fort Lauderdale, Fla., Destination Hope, Inc. offers
comprehensive drug rehab and mental health programs, with a special
focus on dual diagnosis while providing clients with the knowledge
and tools to overcome their addiction. Visit
https://destinationhope.com for more information.

Destination Hope sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Fla. Case No. 20-19402) on August 28,
2020. The petition was signed by Benjamin Brafman, the company's
president.

At the time of the filing, Debtor had estimated assets of between
$500,000 and $1 million and liabilities of between $10 million and
$50 million.

Judge Peter D. Russin oversees the case.  Wernick Law, PLLC is
Debtor's legal counsel.


DIAMOND OFFSHORE: Loews Writes $957M Investment Loss
----------------------------------------------------
Loews Corporation (NYSE: L) reported a net loss of $835 million, or
$2.96 per share, for the three months ended June 30, 2020, compared
to net income of $249 million, or $0.82 per share, in the second
quarter of 2019. Net loss for the six months ended June 30, 2020
was $1.47 billion, or $5.16 per share, compared to net income of
$643 million, or $2.09 per share, for the six months ended June 30,
2019.

The net loss for the three months ended June 30, 2020, was driven
by (i) an  investment loss of $957 million to write down the
carrying value of its interest in Diamond Offshore Drilling, Inc.
as a result of its bankruptcy filing on April 26, 2020, (ii)
significant catastrophe losses at CNA Financial Corporation, and
(iii) operating losses at Loews Hotels & Co.  These factors were
partially offset by increased net investment income at CNA and the
parent company as well as investment gains at CNA.

The net loss for the six months ended June 30, 2020, was caused by
(i) the investment loss from the write down of our Diamond Offshore
carrying value discussed above, (ii) Diamond Offshore drilling rig
impairment charges of $408 million in the first quarter of 2020,
(iii) catastrophe losses at CNA, (iv) operating losses at Loews
Hotels, and (v) investment losses at CNA in 2020 as compared to
gains in the first six months of 2019.

The economic disruption caused by the COVID-19 pandemic and
measures to mitigate the spread of the virus significantly affected
Loews's results in the first half of 2020. The full impact of
COVID-19 on Loews and our businesses will be dependent on the
pandemic's duration and scope and economic policies and other
responses to the pandemic.

Book value per share decreased to $61.35 at June 30, 2020 from
$65.71 at December 31, 2019, driven by the net losses reported for
the first six months of 2020. Book value per share excluding
accumulated other comprehensive income (AOCI) decreased to $61.33
at June 30, 2020 from $65.94 at December 31, 2019.

CNA's earnings decreased primarily due to higher net catastrophe
losses and unfavorable net prior year development. In 2020,
catastrophe pretax net losses included $182 million related to the
COVID-19 pandemic, $61 million related to civil unrest, and $58
million related primarily to severe weather-related events. The
unfavorable net prior year development includes a $50 million
pretax charge for mass tort exposures primarily due to New York
reviver statute-related claims. These decreases were partially
offset by favorable net investment income driven by limited
partnership and common stock returns, favorable non-catastrophe
current accident year underwriting results, and higher investment
gains mainly from the favorable change in the fair value of
non-redeemable preferred stock. The prior year period included a
$15 million loss on the early redemption of debt.

Boardwalk Pipelines' earnings decreased primarily due to $19
million (after tax) of proceeds received in 2019 in conjunction
with a contract cancellation due to a customer bankruptcy. Absent
these proceeds, earnings were generally consistent with the prior
year as revenues from expiring contracts were replaced by contracts
at lower average rates, partially offset by revenue from growth
projects recently placed in service and increased park & loan and
storage revenues. Expenses decreased primarily due to the timing of
maintenance projects and lower interest expense due to lower
interest rates and higher capitalized interest.

Loews Hotels' results reflect the continuing negative effect of the
COVID-19 pandemic. As of March 31, 2020, 20 hotels owned and/or
operated by Loews Hotels had temporarily suspended operations, with
two additional hotels suspending operations in April 2020. Of these
22 hotels, one resumed operation in May, twelve in June and five in
July. All hotels currently operating are experiencing very limited
occupancy. Loews Hotels has enacted significant measures to adjust
the operating cost structure of each hotel and of the management
company during the suspensions and upon resumptions of operations.
Results were further impacted by impairment charges of $20 million
($15 million after tax) partially offset by a gain of $13 million
($7 million after tax) on the sale of a hotel property in 2020.  
The parent company investment portfolio recorded higher earnings
for the quarter primarily due to improved performance of equity
securities.

Diamond Offshore's results for the three months ended June 30,
2020, as compared with the 2019 period, reflect a shorter operating
period due to the deconsolidation of Diamond Offshore on April 26,
2020.
The Corporate segment includes the investment loss of $957 million
related to the write down of the carrying value of our interest in
Diamond Offshore.

Six Months Ended June 30, 2020 Compared to Six Months Ended June
30, 2019
CNA's earnings decreased primarily due to higher net catastrophe
losses and lower net investment income driven by lower returns on
limited partnership and common stock investments, as well as net
investment losses as compared to gains in the prior year period. In
2020, net catastrophe pretax losses included $195 million related
to the COVID-19 pandemic, $61 million related to civil unrest and
$120 million related primarily to severe weather-related events. In
addition, CNA recorded unfavorable net prior year development as
compared to favorable net prior year development in the prior year
period including a $50 million pretax charge for mass tort
exposures primarily due to New York reviver statute-related claims.
The investment losses were driven by higher impairment losses and
the unfavorable change in the fair value of non-redeemable
preferred stock.

Boardwalk Pipelines' earnings decreased primarily due to the
reasons set forth above in the three-month discussion as well as
higher operating expenses, including depreciation and taxes
primarily due to an increased asset base from growth projects, as
well as the expiration of property tax abatements.
Loews Hotels' earnings decreased primarily due to the reasons set
forth in the three-month discussion above.

Results generated by the parent company investment portfolio
decreased due to losses recognized in the current year from the
severe disruptions in the financial markets, as compared to income
in the 2019 period.

Diamond Offshore's results for the six months ended June 30, 2020,
as compared with the 2019 period, reflect a shorter operating
period due to the bankruptcy filing of Diamond Offshore on April
26, 2020 as well as drilling rig impairment charges of $408 million
recorded in the first quarter of 2020.

Corporate segment results include the Diamond Offshore investment
loss as discussed above.

SHARE REPURCHASES

At June 30, 2020, there were 280.4 million shares of Loews common
stock outstanding. For the three and six months ended June 30,
2020, the Company repurchased 1.0 million and 10.7 million shares
of its common stock for an aggregate cost of $33 million and $478
million. Depending on market conditions, the Company may from time
to time purchase shares of its and its subsidiaries' outstanding
common stock in the open market or otherwise. For the three and six
months ended June 30, 2020, the Company purchased 0.6 million
shares of CNA common stock for an aggregate cost of $19 million.

                     About Loews Corporation

Loews Corporation is an American conglomerate headquartered in New
York City. The company's majority-stake holdings include CNA
Financial Corporation, Diamond Offshore Drilling, Boardwalk
Pipeline Partners, Loews Hotels and Consolidated Container
Company.

               About Diamond Offshore Drilling

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

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

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

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

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


ENDICOTT MEATS: Oct. 19 Auction of All Assets Set
-------------------------------------------------
Judge Robert D. Drain of the U.S. Bankruptcy Court for the Southern
District of New York authorized the bidding procedures proposed by
Endicott Meats, Inc. and Endicott Realty Corp. in connection with
the sale of substantially all assets, including Realty's real
property located at 355 Food Center Drive, Unit B23, Bronx, New
York, and Meat's meat processing equipment and USDA Grant of
Inspection, to Japan Premium Beef, Inc. for $400,000, subject to
higher and better offers.

Within five days after the entry of the Order, the Debtors will
serve a copy of the Sale Notice attached to the Motion on all Sale
Notice Parties.  The Debtors will provide a copy of the Purchase
Agreement and the Order to any person or entity that requests a
copy.

Any person or entity desiring to participate in the sale process
will submit a bid to the Debtor's Counsel.

The salient terms of the Bidding Procedures are:

     a. Bid Deadline: Sept. 30, 2020 at 5:00 p.m. (EST)

     b. Initial Bid: $430,000, payable in cash at the Closing

     c. Deposit: $43,000 made payable to Reich, Reich & Reich,
P.C.

     d. Auction: If the Debtor does not receive any Qualified Bids,
the Debtors will report to the Court and will proceed with a sale
of the Property to the Purchaser under the terms of the Purchase
Agreement.  If they receive a Qualified Bid other than the bid of
the Purchaser, the Debtors will conduct an auction at the Sale
Hearing.

     e. Bid Increments: $25,000

     f. Sale Hearing: Oct. 19, 2020 at 10:00 p.m. before the Court
or to be conducted telephonically via Court Solutions LLC

     g. In the event that no Competing Bids are received by the
Debtor, the Sale Hearing will take place in order for the Debtor to
seek final approval of the sale of the Property pursuant to the
terms of the Purchase Agreement and the Sale Order attached to the
Motion.

The Court approves paragraph 9.4 of the Purchase Agreement and the
Expense Reimbursement to be paid as set forth in such paragraph.

The Order will be effective immediately upon entry pursuant to
Bankruptcy Rules 7062 and 9014, and no automatic stay of execution,
pursuant to Rule 62(a) of the Federal Rules of Civil Procedure,
applies with respect to the Order or any other order entered in
connection therewith.  The 14-day stay provided for in Bankruptcy
Rule 6004(g) is waived, for cause shown, and the Order is effective
immediately upon its entry.

A copy of the Agreement and the Bidding Procedures is available at
https://tinyurl.com/yy2db2jw from PacerMonitor.com free of charge.

                      About Endicott Meats

Endicott Meats, Inc., is a meat wholesaler located at Hunts Point
Cooperative Market, Unit B-23 Bronx, N.Y.  It offers a large
selection of veal, beef, lamb, pork and poultry products.

Endicott Meats filed a voluntary petition for relief under Chapter
11 of the Bankruptcy Code (Bankr. S.D.N.Y. Case No. 19-23966) on
Nov. 7, 2019.  In the petition signed by Frederic Braunshweiger,
president, the Debtor disclosed $202,472 in assets and $1,202,425
in liabilities.  Nicholas A. Pasalides, Esq., at Reich Reich &
Reich, P.C., represents the Debtor.



ENERGIZER HOLDINGS: Moody's Rates New $800MM Sr. Unsec. Notes 'B2'
------------------------------------------------------------------
Moody's Investors Service assigned a B2 rating to Energizer
Holdings, Inc.'s new $800 million senior unsecured notes due 2029.
All other ratings for Energizer including the B1 Corporate Family
Rating and B1-PD Probability of Default Rating remain unchanged.
The company's SGL-1 Speculative Grade Liquidity Rating and stable
outlook are unaffected. Proceeds from the new offering will be used
to refinance the existing 6.375% $750 million senior unsecured
notes due June 2026 and to pay fees and expenses related to the
note offering.

The offering is credit positive because it extends the maturity
profile with leverage unaffected and cash interest expense not
materially changed. The next significant maturity is a $365 million
term loan A due in December 2022.

Ratings assigned:

Energizer Holdings, Inc.:

Senior Unsecured Notes due 2029 at B2 (LGD4)

The rating outlook is stable.

RATINGS RATIONALE

Energizer's B1 CFR reflects its concentration in the declining
battery category that is facing a slow secular decline as consumer
products are increasingly evolving toward rechargeable
technologies. The ratings also reflect high event risk as Energizer
has chosen to expand outside of the battery business -- through
debt financed acquisitions -- into totally unrelated businesses.
The company's high financial leverage, with debt to EBITDA at about
6.0x for the last twelve months ended 6/30/2020, following the
acquisition of the Spectrum assets in January 2019, also limits
financial flexibility to invest and sustain the dividend. Moody's
expects debt to EBITDA to improve modestly to about 5.3x over the
next 12 months through a combination of earnings growth, boosted by
cost and operational synergies, and debt repayment. However,
leverage could well increase again should Energizer pursue
additional debt-financed acquisitions. Energizer's ratings are
supported by its leading market position in the single use and
specialized battery market, and portfolio of well-known brands in
the battery and consumer car maintenance segments, and solid
operating cash flow.

Energizer's organic revenue growth was 3.4% in the third fiscal
quarter ended June 30, 2020 driven by some pantry loading of its
core battery product by consumers and healthcare professionals, in
the wake of the coronavirus. Moody's expects demand for the
company's battery business (77% of sales) to remain favorable. That
said sales will be negatively impacted by reduced demand for
Energizer's more discretionary products, such as its auto care
products (18%). Moody's expects Energizer's organic revenue growth
to be around 0%-3% over the next year supported by volume gains and
a slight pick-up in developed markets growth.

Environmental, Social and Governance considerations:

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.

In terms of Environmental, Social and Governance (ESG)
considerations, the most important factor for Energizer's ratings
are governance considerations related to its financial policies and
environmental risk. Moody's views Energizer's financial policies as
aggressive given its debt financed acquisition of Spectrum into
totally unrelated businesses. Energizer faces environmental risk
from the disposal and recycling of batteries.

The stable outlook reflects Moody's expectation that Energizer's
high financial leverage will improve over the next 12 months
through EBITDA growth and debt repayment. Moody's also assumes that
Energizer's very good liquidity will provide flexibility to
integrate Spectrum and to repay debt.

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

The ratings could be downgraded if Energizer experiences
significant operational disruption. Further, the ratings could be
downgraded if the company's financial policies become increasingly
aggressive, including additional debt funded acquisitions or
shareholder returns. Moody's could also downgrade the ratings if
the company's liquidity deteriorates or if debt to EBITDA is
sustained above 5.5x.

Moody's could upgrade the ratings if Energizer successfully
integrates both the Spectrum battery and Spectrum auto businesses
and improves credit metrics. Debt/EBITDA would need to be sustained
below 4.5x before Moody's would consider an upgrade.

Energizer Holding, Inc. manufactures and markets batteries,
lighting products, car fragrance and appearance, and engine
additives around the world. The product portfolio includes
household batteries, specialty batteries, portable lighting
equipment and various car fragrance dispensing systems. Some key
brands include Energizer, Eveready, Rayovac, STP, and ArmorAll. The
publicly-traded company generates roughly $2.7 billion in annual
revenues.

The principal methodology used in this rating was Consumer Packaged
Goods Methodology published in February 2020.


ENERGIZER HOLDINGS: S&P Rates $800MM Senior Unsecured Notes 'B+'
----------------------------------------------------------------
S&P Global Ratings assigned its 'B+' issue-level and '5' recovery
ratings to Energizer Holdings Inc.'s proposed $800 million senior
unsecured notes due 2029 The '5' recovery rating indicates S&P's
expectation for modest (10%-30%; rounded estimate: 25%) recovery in
the event of a payment default. The company will use the net
proceeds from the proposed notes to refinance its $750 million
6.375% senior unsecured notes due 2026 and pay related expenses and
fees. The transaction will have an immaterial effect on leverage.
Pro forma for this transaction, S&P estimates Energizer will have
about $3.4 billion of total debt outstanding.

All of S&P's existing ratings on the company, including its 'BB-'
issuer credit rating, are unchanged. The outlook is negative.

S&P's ratings on Energizer incorporate its premier brand name,
given its No. 1 or No. 2 market positions globally, as well as its
participation in a highly competitive and mature industry. It
believes Energizer's global manufacturing and distribution
platform, strong brand recognition, and diversified customer base
provide it with competitive advantages that will support steady
profit growth. The company benefited from a surge in battery demand
when governments issued shelter-in-place orders in response to the
COVID-19 pandemic, particularly in North America. Although it
believes battery consumption will moderate in the coming quarters,
S&P expects demand will remain steady as consumers spend more time
at home. S&P also expects improved performance in Energizer's auto
care business and in international markets, which had more
restrictive retail lockdowns in the early stages of the pandemic.
S&P projects Energizer's leverage will decline to about 5x by the
end of fiscal 2020 and continue to improve to the mid-4x area by
the end of fiscal 2021.


ESCONDIDO HOLDINGS: Resource Capital Buying Yuma Property for $540K
-------------------------------------------------------------------
Escondido Holdings, LLC, asks the U.S. Bankruptcy Court for the
District of Arizona to authorize the sale of its real property
commonly described as 4476 East County 15th Street, Yuma, Arizona,
legally described as Parcels A, B, C, D and E, Tuffly Lot Split
(LDP 20-08), according to Book 32 of Plats, page 14 and in Document
No. 2020-24841, records of Yuma County, Arizona, tax parcel numbers
748-26-007, 748-26-008 and 748-26-009, to Resource Capital Group,
LLC for $540,000, in accordance with the terms of the Purchase
Agreement.

The Debtor executed a Promissory Note dated June 9, 2008 in favor
of The Foothills Bank in the principal amount of $ 620,000.  The
Note is secured by a first position deed of trust against the
Property.  The Deed of Trust was recorded in the Office of the Yuma
County Recorder on June 10, 2008 at Document No.2008-16899.  

Foothills Bank Secured Creditor (Claim # 1) is the holder of a
consensual lien against the Property in the amount of $527,407.
The Deed of Trust was recorded in the Office of the Yuma County
Recorder on June 10, 2008 and references a promissory note executed
on a date of June 9, 2008 which is a date that is even with the
Deed of Trust.     

The Debtor has not sought to employ a realtor in this matter.  The
Buyer is an Arizona limited liability company whose sole member is
Shirley Tuffly.  The purchase price is, in essence and a full price
offer.  The purchase price will satisfy all outstanding secured
claims in the matter.  The Debtor also believes that the "as is
fair market value of the Property is equal to the Purchase Price.

Shirley Tuffly, owner of the purchasing entity is an insider.
Shirley is the manager of Escondido and her son, Robert Tuffly, is
the member.  Nevertheless, the Buyer is a good faith purchaser as
that term is defined by the Bankruptcy Code.

Pursuant to the Purchase Agreement, the Buyer has offered to
purchase the Property for $540,000 with an initial earnest money
deposit of $0, and an additional $540,000 due at closing.  In the
event of default by the Buyer, the Debtor may, as its sole remedy,
declare the Purchase Agreement terminated and have the Earnest
Money forfeited to the Debtor.

The Buyer and her representatives will have reasonable access to
the Property to perform inspections, fulfill contingencies and do
its due diligence which has and will continue to take place as
necessary.

Upon information and belief, the Secured Creditor should have not
objection to the sale of the Property on the terms and conditions
set forth in the Purchase Agreement free and clear of its lien.  To
the extent that there is any dispute regarding the amount of its
Secured Claim, the Debtor and the Secured Creditor can agree to
have any disputed portion of a secured claim attach to the proceeds
of the sale pending further order of the Court.

The proposed form of order approving the sale of the Property
provides that all necessary closing costs will be paid at the close
of escrow.  Those closing costs include but might not be limited to
real estate commissions, escrow fees and recording fees.  The Real
property taxes due and owing to Yuma County by the Seller through
the date of closing will be paid in full at the close of escrow.   


The Debtor believes, in the exercise of its business judgment, that
the sale of the Property to the Buyer upon the terms and conditions
set forth in the Purchase Agreement is in the best interest of the
estate.    

The Debtor has yet to file its initial plan.

Finally, the Debtor asks that the Court waives the 14-day stay
under Fed. R. Bankr. P. 6004(h) and 6006(d), so that the Order will
be effective immediately upon entry, and the Debtor, the escrow
officer and the Buyer can close the sale immediately upon entry of
the Order.

A copy of the Agreement is available at
https://tinyurl.com/y6xh25qo from PacerMonitor.com free of charge.

                   About Escondido Holdings

Escondido Holdings, LLC, filed a Chapter 11 bankruptcy petition
(Bankr. D. Ariz. Case No. 20-01019) on Jan. 30, 2020, disclosing
under $1 million in both assets and liabilities.  The Debtor is
represented by Phil Hineman, Esq., at The Law Office of Phil
Hineman, P.C.


EXPRESSJET AIRLINES: Loses UAL; To Cease Flying by Sept. 30
-----------------------------------------------------------
Justin Bachman, writing for Bloomberg News, reports that the Big
Three U.S. airlines are unlikely to dismantle the regional carrier
model any time soon, so long as they rely on massive hubs to
generate profits. This outlook is from the CEO of ExpressJet
Airlines, one of the largest regional carriers in America, and one
which plans to shut down this year.  ExpressJet is the fourth U.S.
regional airline to collapse since the Covid-19 pandemic decimated
air travel.  

Through a subsidiary, United Airlines Holdings Inc. owns 49.9% of
the airline, which it acquired from SkyWest Inc. in late 2018 to
bolster its regional flying.

On July 30, United Airlines (UA) selected CommutAir as its sole
ERJ145 operator, and asked ExpressJet Airlines to wind-down flying
for UA by year end. After spending considerable time planning this
wind-down, ExpressJet and United's management teams decided that
due to uncertain schedules from October to December, it would be
best to accelerate the termination of all ExpressJet scheduled
service flying, on behalf of United Express, on September 30,
2020.

                     About ExpressJet Airlines

ExpressJet Airlines is an ExpressJet Holdings, Inc. subsidiary.
Houston-based ExpressJet Holdings, Inc. provides connecting flights
to former parent Continental Airlines. The Company operates a fleet
of more than 200 Embraer regional jets from Continental's hubs in
Cleveland, Houston, and Newark, New Jersey, and serves about 150
cities in the US, Canada, Latin America, and the Caribbean.




FAIRWAY MARKET: Bogopa's Food Bazaar Has Bought 3 Locations
-----------------------------------------------------------
Progressive GROCER reports that Bogopa Service Corp., owner of the
Food Bazaar grocery store banner, in August said has acquired the
Fairway Market location in Westbury, New York, on Long Island. The
purchase comes in the wake of Bogopa's acquisition of two other
former Fairway Market stores, in the New York City boroughs of
Brooklyn (Red Hook) and Queens (Douglaston) last month.

“The acquisitions of the Fairway stores make for very exciting
times for Bogopa, and we are eager to show all the shoppers at
these former Fairway locations that Food Bazaar will be keeping
much of the same services and quality they have come to expect,
while continuing the outstanding online shopping convenience with
Instacart," said Edward Suh, EVP for Brooklyn-based Bogopa, a
family-owned business that operates 28 Food Bazaar supermarkets in
New York City, New Jersey, Long Island, Connecticut and New
York’s Westchester County.

Under the Food Bazaar banner, the Westbury store will continue to
cater to the community it serves while delivering perishables,
organics, international foods, specialty coffees, e-commerce (via
Instacart) and customer service. Store associates will remain in
their roles, according to Bagopa.

Brooklyn Paper reports that Bogopa successfully bid for Fairway's
Red Hook and Douglaston, Queens locations.  The total $2.43 million
deal is mostly for equipment and inventory of the two grocery
stores, according to court filings.  That includes the acquisition
of $875,000-worth of inventory, along with $5,000 in furniture,
fixtures, and equipment from the Red Hook Fairway.  The sale
agreement also requires the buyer to hire at least 90 percent of
employees, the fillings show.  Bogopa edged out a counter-offer by
Seven Seas, an operator and member of the Key Food Stores
Cooperative, which bought Fairway's other Kings County outpost at
the Georgetown strip mall on Ralph Avenue for $5 million in March
2020.

Bogopa operates 26 Food Bazaar stores in the Tri-State area,
including six outposts in Brooklyn.

                     About Fairway Market

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.



FIELDWOOD ENERGY: Gets Court Approval for $100M DIP Loan
--------------------------------------------------------
Law360 reports that Fieldwood Energy LLC won final approval of its
$100 million DIP financing.  According to the report, the Debtor
got the go-ahead to tap into the $100 million loan administered by
Cantor Fitzgerald Securities after telling the judge it had
resolved objections to the proposal.

                    About Fieldwood Energy

Fieldwood Energy -- https://www.fieldwoodenergy.com/ -- is a
portfolio company of Riverstone Holdings focused on acquiring and
developing conventional assets, primarily in the Gulf of Mexico
region. It is the largest operator in the Gulf of Mexico owning an
interest in approximately 500 leases covering over 2 million gross
acres with 1,000 wells and 750 employees.

Fieldwood Energy LLC and its 13 affiliates sought Chapter 11
protection (Bankr. S.D. Tex. Lead Case No. 18-30648) on Feb. 15,
2018, with a prepackaged plan that would deleverage $3.286 billion
of funded by $1.626 billion.

Fieldwood estimated $1 billion to $10 billion in assets and debt.

The Company has engaged Weil, Gotshal & Manges LLP as its legal
counsel, Evercore Group LLC as its financial advisor, and Opportune
LLP as its restructuring advisor. Prime Clerk LLC is the claims and
noticing agent.

The First Lien Group has engaged O'Melveny & Myers LLP as its legal
counsel and Houlihan Lokey Capital, Inc., as its financial advisor.
The RBL Lenders have engaged Willkie Farr & Gallagher LLP as its
legal counsel and RPA Advisors, LLC as its financial advisor. The
Cross-Holder Group has engaged Davis Polk & Wardwell LLP as its
legal counsel and PJT Partners LP as its financial advisor.
Riverstone has engaged Vinson & Elkins LLP as its legal counsel and
Perella Weinberg Partners as its financial advisor.


FIELDWOOD ENERGY: Has Second Bankruptcy in Two Years
----------------------------------------------------
Fieldwood Energy LLC and certain affiliates have each filed a
voluntary petition for relief under Chapter 11 of the United States
Bankruptcy Code in the Bankruptcy Court for the Southern District
of Texas.

The Company will continue to operate its business safely in the
normal course during the pendency of the Chapter 11 cases and will
continue working with its vendors, co-working interest owners, and
employees to support the operations.  Fieldwood expects to have
access to sufficient liquidity to meet financial obligations during
the restructuring, including cash on hand and a
debtor-in-possession facility provided by certain of its First Lien
Term Loan lenders. The Chapter 11 process will encompass a
comprehensive restructuring of the Company.

Fieldwood entered into a Restructuring Support Agreement ("RSA")
with the support of key members of the Company's lender group,
including holders of approximately two-thirds of the obligations
under its First Lien Term Loan facility.  Fieldwood has filed a
series of motions with the Bankruptcy Court which, when granted,
are expected to enable the Company to maintain its operations as
usual throughout the restructuring process.  Mike Dane, the
Company's Senior Vice President and Chief Financial Officer,
commented: "Today's announcement reflects the next step in our
efforts to respond to the challenging market environment and
Fieldwood's liabilities.  Over the last several months, we have
worked collaboratively with numerous important stakeholders to
evaluate our options and proactively manage our balance sheet.  The
transactions contemplated in our RSA to be implemented through
Chapter 11 represent the best course of action for Fieldwood and
all our stakeholders and we look forward to implementing this
plan."

Vince Sullivan of Law360 reports that Gulf of Mexico oil and gas
exploration company Fieldwood Energy LLC filed for Chapter 11
protection in Texas along with more than a dozen affiliates,
marking its second bankruptcy case since 2018 as global energy
prices continue to stagnate due to slackening demand driven by the
COVID-19 pandemic.

                     First Day Hearings

Law360 reports that at the first-day hearing, U.S. Bankruptcy Judge
Marvin Isgur approved the financing despite questions about the
approximately $9 million in fees, although he did delay the draw
until Aug. 11 to allow more time for interested parties to look at
the terms.  The Debtor has sought permission to borrow up to $100
million in debtor-in-possession financing administered by Cantor
Fitzgerald Securities to fund its case.

"It's not available at a cheaper price," he said.

At the hearing, counsel for Fieldwood said the company began talks
with creditors in March, when the effects of plunging oil prices
and the COVID-19 pandemic began to make themselves felt, ultimately
reaching a restructuring agreement with the holders of about
two-thirds of its first lien term loan facility.

The restructuring will involve the sale or equitization of the
company's deepwater assets and assets purchased from Apache Corp.
in 2013 — representing about two-thirds of its coastal shelf
assets — to shift to a reorganized Fieldwood, company counsel
Alfredo Perez said.

Perez added the company hopes to emerge from bankruptcy by the
first quarter of 2021.

                    About Fieldwood Energy

Fieldwood Energy is a portfolio company of Riverstone Holdings
focused on acquiring and developing conventional assets, primarily
in the Gulf of Mexico region. It is the largest operator in the
Gulf of Mexico owning an interest in approximately 500 leases
covering over two million gross acres with 1,000 wells and 750
employees. Visit https://www.fieldwoodenergy.com for more
information.

Fieldwood Energy and its 13 affiliates previously sought Chapter 11
protection (Bankr. S.D. Tex. Lead Case No. 18-30648) on Feb. 15,
2018, with a prepackaged plan that slashed $1.6 billion from its
balance sheet while also allowing for a new rights offering that
enabled the company to raise more than $500 million to acquire the
offshore drilling assets of competitor Noble Energy Inc.

On Aug. 3, 2020, Fieldwood Energy and its 13 affiliates again filed
voluntary Chapter 11 petitions (Bankr. S.D. Tex. Lead Case No.
20-33948). Mike Dane, senior vice president and chief financial
officer, signed the petitions.  At the time of the filing, the
Debtors disclosed $1 billion to $10 billion in both assets and
liabilities.

Judge David R. Jones oversees the cases.

The Debtors tapped Weil, Gotshal & Manges LLP as their legal
counsel, Houlihan Lokey Capital, Inc., as investment banker, and
AlixPartners, LLP as financial advisor.  Prime Clerk LLC is the
claims, noticing and solicitation agent.

The first lien group has employed O'Melveny & Myers LLP as its
legal counsel and Houlihan Lokey Capital, Inc. as its financial
advisor.  

The RBL lenders have employed Willkie Farr & Gallagher LLP as their
legal counsel and RPA Advisors, LLC as their financial advisor.  

The cross-holder group has tapped Davis Polk & Wardwell LLP as its
legal counsel and PJT Partners LP as its financial advisor.


FITZ LAW GROUP: Seeks to Hire Paul C. Sheils as Legal Counsel
-------------------------------------------------------------
The Fitz Law Group, LLC seeks approval from the U.S. Bankruptcy
Court for the Northern District of Illinois to hire Paul C. Sheils
Attorney at Law as its legal counsel.

The firm will represent Debtor in matters concerning negotiation
with creditors, preparation of a Chapter 11 plan and disclosure
statement, examining and resolving claims filed against the estate,
and preparation and prosecution of adversary matters.

The firm will be paid at an hourly rate of $350.

Paul Sheils, Esq., the principal at Paul C. Sheils, disclosed in
court filings that the firm is a "disinterested person" within the
meaning of Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

      Paul C. Sheils, Esq.
      Paul C. Sheils Attorney at Law
      15 Salt Creek Lane, Suite 122
      Hinsdale, IL 60521
      Telephone: (630) 655-1204
      Email: attorney@paulsheils.com

                      About The Fitz Law Group

The Fitz Law Group, LLC, filed a Chapter 11 petition (Bankr. N.D.
Ill. Case No. 20-07513) on March 16, 2020.  Paul C. Sheils Attorney
at Law serves as Debtor's legal counsel.


FR TNT HOLDINGS: Wants to Avoid Bankruptcy by Debt-Equity Swap
--------------------------------------------------------------
FR TNT Holdings LLC and certain of its affiliates announced in
early August 2020 that they have entered into a restructuring
support agreement (the "RSA") with holders of more than 73% in
principal amount of the Company's first lien secured loans and 75%
in principal amount of its second lien secured loans, along with
certain other supporting parties, to execute a transaction that
will de-lever and financially strengthen the Company. Through the
transaction, TNT will recapitalize and gain new liquidity in the
form of a new $225 million term loan provided by the Company's
first lien lenders. All operations will continue as usual without
interruption. TNT's executive leadership team, which remains
focused on the Company's operational performance, is expected to
remain in place.

The Company is seeking to implement the transaction through a
debt-for-equity exchange (the "Exchange"), which the lenders party
to the RSA have agreed to accept.  All the Company's first lien and
second lien lenders will be solicited for the Exchange.  The
Exchange will only be consummated with the participation of 100% of
the first lien and second lien lenders.

Simultaneously with the solicitation of the Exchange, TNT will also
solicit votes on a prepackaged plan of reorganization (the
"Prepackaged Plan") through cases under chapter 11 of the United
States Bankruptcy Code, which will be commenced in August 2020 in
the event the Company is unable to achieve 100% support for the
Exchange.  This dual-track approach, with significant lender
support, will enable TNT to swiftly and definitively recapitalize
its balance sheet with no impact to the majority of the Company's
stakeholders.  All parties to the RSA have already agreed to
support the Prepackaged Plan, the terms of which are substantially
the same as the Exchange and similarly provide for operations to
continue as usual without interruption, with employees, suppliers,
vendors, contract counterparties and other trade creditors to be
paid in full in the ordinary course.  The Company has secured
commitments from certain of its first lien lenders for an
additional $45 million debtor-in-possession financing, which, in
addition to TNT's normal operating cash flows, will help fund the
process and ensure the Company is able to operate as usual during
the chapter 11 proceedings, if the transaction is implemented
through a Prepackaged Plan.

"This restructuring is a positive outcome that will bolster TNT's
financial strength and support our operations for the future. We
are grateful to the lead members of our term loan group for working
closely with us to prepare the consensual transaction and for the
confidence demonstrated by their support. This consensual
transaction will position TNT on firm financial footing with a
healthier balance sheet. TNT will continue to operate seamlessly
with an unwavering focus on safety and customer experience and no
impact to our employees, customers and vendors," said Michael
Appling Jr., Chief Executive Officer of TNT. "We are looking
forward to working with the new ownership group to continue as
North America's leader in providing safe, reliable lifting services
as we grow alongside our customers."

Solicitation of the Exchange and the Prepackaged Plan is expected
to commence imminently.

Through the transaction, the Company's first lien lenders will
receive $100 million in exit term loans and 97% of the equity in
reorganized TNT (subject to dilution).  The Company's second lien
lenders will receive the remaining equity in reorganized TNT and
warrants that may be exercised for up to 5% of the equity in
reorganized TNT (subject to dilution by a management incentive
plan).  All existing secured loans will be retired.

TNT is represented by Simpson Thacher & Bartlett LLP and Young
Conaway Stargatt & Taylor, LLP, as legal co-counsels, Miller
Buckfire & Co., LLC and Stifel, Nicolaus & Co., Inc., as financial
advisor and investment banker, and FTI Consulting, Inc. as
financial advisor. This press release does not constitute an offer
to sell or a solicitation of an offer to buy any securities.

                            About TNT

TNT is a crane services platform that provides operated and
maintained ("O&M") crane services and comprehensive lifting
services to a broad customer base across multiple sites, with a
diversified end market exposure.  As a provider of O&M services,
the Company supplies its customers with highly skilled operators,
technical expertise and project engineering and design in
connection with its lifting services.


GAMESTOP CORP: S&P Affirms B- Issuer Credit Rating; Outlook Stable
------------------------------------------------------------------
S&P Global Ratings affirmed its ratings on U.S. based video-game
retailer GameStop Corp., including the 'B-' issuer credit rating,
and removed the ratings from CreditWatch where it placed them with
negative implications July 3, 2020.

"The stable outlook reflects our expectation for improved operating
performance that should follow the 2020 release of the next
generation video game consoles in the fourth quarter of this year,"
S&P said.

S&P has removed the ratings from CreditWatch following GameStop's
publicly announced intention to redeem the March 2021 notes at
par.

"As a result, we no longer see a risk that GameStop will retire
debt at less than par, an action we could consider akin to default.
The outstanding balance under the March 2021 notes total roughly
$200 million, which we think the company will redeem using balance
sheet cash and cash generation," S&P said.

S&P believes cash balances and free cash flow generation in 2020
provides GameStop some near-term financial flexibility:

S&P now expects GameStop to generate in excess of $200 million of
free operating cash flow in 2020 and end the year with around $600
million in balance sheet cash. This projection incorporates the
company's focus on working capital management that includes
reducing inventory in some product categories and increasing sales
turnover. S&P's forecast also integrates the expected launch of new
video game consoles in late November this year. S&P sees this event
as leading to much better near-term results, because customers will
likely increase spending on gaming products after deferring
purchases since midyear last year.

In addition, second-quarter free operating cash flow was better
than expected, largely because of working capital management. Given
the relatively stronger cash flow generation and the proceeds from
monetizing the real estate assets, GameStop paid down $100 million
of the revolver borrowings and had $35 million outstanding as of
Aug. 1, 2020. As the company announced on July 2, 2020, GameStop
exchanged roughly 52% of the notes that were set to mature in March
2021 with new $216 million notes. These new notes provide
additional financial flexibility by replacing and extending the
maturity to 2023. With regards to roughly $200 million remaining of
the 2021 notes, the company will likely redeem those bonds (at par)
over the course of the coming months between now and the maturity
date.

Still, S&P thinks GameStop remains highly dependent on physical
video game sales, increasing long-term operating risks.

GameStop's efforts to diversify its business have led to mixed
results, and it is still heavily exposed to physical video gaming
products, which S&P believes accounts for a majority revenues.
GameStop markets non-video-game products including collectibles,
trading cards, and other similar pop-culture products. Still, S&P
expects GameStop will remain highly leveraged to the video game
markets, especially physical products. Although S&P also thinks
physical game sales to increase over the next 12 months with the
launch of the next generation consoles, long-term risks from
digital video game distribution remain. While GameStop has pursued
initiatives to reinvent itself in the growing digital age, S&P
expects increased competition from traditional players, new market
entrants, and video game developers to intensify in the future.

Increased competitive threats amid continued growth in digital
distribution is among other risks unique to GameStop. For one,
operating performance was hurt by government-mandated shutdowns and
social-distancing policies.

"While the closure of stores was partially offset by omni-channel
sales, we believe there is no assurance this would continue amid
potential future government mandates," S&P said.

"Moreover, we continue to think GameStop is vulnerable to the video
game industry's highly cyclical nature, its lack of supplier
diversity, and its dependence on customer acceptance and timing of
new titles. We therefore apply a negative comparable ratings
modifier because of these risks," the rating agency said.

The stable ratings reflect S&P's expectation that operating
performance will likely improve following the late 2020 release of
the next generation video game consoles. S&P expects this will
result in meaningful free operating cash flow generation this year
and next and the redemption (at par) of the company's unsecured
notes.

S&P could lower the rating if it believed GameStop's capital
structure was potentially unsustainable. Under such a scenario, S&P
would likely believe the company's business model was unlikely to
have viability, a situation that would likely include:

-- Operating performance that would become increasingly
constrained by digital video game distribution;

-- GameStop failing to reinvent itself in the changing competitive
landscape resulting in flat to negative operating performance; and

-- The company's inability to refinance its capital structure,
including the secured notes maturing 2023.

S&P could raise the rating if:

-- S&P believes GameStop would potentially achieve long-term
success in reinventing itself amid the changing industry landscape,
which would likely lead to sustained growth in sales and EBITDA;
and

-- Adjusted EBITDA margins approach 2019 levels while the company
maintained meaningful free operating cash flow generation.


GAP INC: Egan-Jones Cuts Sr. Unsecured Debt Ratings to CCC+
-----------------------------------------------------------
Egan-Jones Ratings Company, on September 10, 2020, downgraded the
foreign currency and local currency senior unsecured ratings on
debt issued by The Gap Incorporated to CCC+ from B-. EJR also
downgraded the rating on commercial paper issued by the Company to
C from B.

Headquartered in San Francisco, California, The Gap, Incorporated
is an international specialty retailer operating retail and outlet
stores.



GDS EXPRESS: Reliable Buying Volvo Trucks & 85 Roll Boxes for $139K
-------------------------------------------------------------------
G.D.S. Express, Inc. and its affiliates ask the U.S. Bankruptcy
Court for the Northern District of Ohio to authorize Debtor Better
Management Corporation of Ohio, Inc. ("BMC")'s sale of the
following four 2014 Freightliner Cascadia CA125SLP Sleeper
Tractors: (i) Vehicle Identification Nos. 3AKJGLDV6ESFY7589 and
3AKJGLDV2ESFY7590 to Bessemer Concrete, LLC for $33,000; and (ii)
Vehicle Identification Nos. 3AKJGLDV4ESFY7588 and 3AKJGLDV4ESFY7591
to Orchard Motors, LLC for $33,000.

On Jan. 23, 2014, BMC entered into that certain Master Equipment
Lease & Mandatory Purchase Agreement with Bank Capital Services,
LLC, doing business as F.N.B. Commercial Leasing, in which BMC
agreed to (i) lease the Trucks for a term of 60 months, and (ii)
purchase the Trucks upon expiration of the Lease Term at a price of
$100,560.  In connection with the Agreement, BMC and FNB entered
into their Equipment Security Agreement in which BMC granted FNB a
security interest in the Trucks.   
Upon information and belief, FNB properly perfected its security
interest in the Trucks prior to the Petition Date by noting its
lien on the title of the Trucks.
As of the date of the Motion, FNB asserts that the total
outstanding amount under the Agreement is $59,569.

In August of 2020, the Debtors received an offer from Bessemer to
purchase those two Trucks identified by Vehicle Identification Nos.
3AKJGLDV6ESFY7589 and 3AKJGLDV2ESFY7590 for the total amount of
$33,000.  After consulting with the FNB regarding the Bessemer
Offer, the Debtors prepared the Asset Purchase Agreement in
accordance with the material terms thereof.

In August of 2020, the Debtors also received an offer from Orchard
Motors to purchase those two Trucks identified by Vehicle
Identification Nos. 3AKJGLDV4ESFY7588 and 3AKJGLDV4ESFY7591 for the
total amount of $33,000.  After consulting with the FNB regarding
the Orchard Motors Offer, the Debtors prepared the Asset Purchase
Agreement in accordance with the material terms thereof.

The sales will be free and clear of all liens, claims, interests
and encumbrances, with all such liens and claims attaching to the
proceeds of the sales.

FNB, the only party with a perfected security interest in the
Trucks consents to the sale of the Trucks under the terms of the
Purchase Agreements.  Upon information and belief, the Committee
does not object to the relief sought in the Motion.  

Upon the closing of the sales of the Trucks, the Debtors further
ask authority to use the Truck Proceeds to remit payment of the FNB
Claim amount to FNB.  They ask that the remaining Truck Proceeds be
turned over to the Debtors, to the extent necessary, to pay the
fees and costs associated with the disposition of the Trucks.  

The private sale of the Trucks as set forth in the Purchase
Agreements maximizes the value of the Trucks for the Debtors'
estates.  The Trucks are currently sitting idle while Debtors
continue to incur significant administrative costs with respect to
storing, insuring and maintaining the Trucks.  Because the Debtors
are liquidating and there are no significant receivables, a fast
sale of the Trucks is more beneficial to the estate than a lengthy
marketing process that will result in very little interest.
Accordingly, the Debtors' determination, in consultation with FNB,
that the terms set forth in the Purchase Agreements constitute the
highest and best offer for the Trucks is a valid and sound exercise
of the Debtors' business judgment.  

The Debtors believe it would be in the best interests of their
estates to consummate the sale of the Trucks under the Purchase
Agreements as soon as practicable to avoid any additional time and
resources being spent on the matter.  As such, the Debtors ask that
the Court waives the 14-day stay provided in Bankruptcy Rules
6004(h) and 6006(d).  

A copy of the Agreement is available at
https://tinyurl.com/y6a2hd7p from PacerMonitor.com free of charge.

                       About G.D.S. Express

G.D.S. Express, Inc. -- http://www.gdsexpress.com/-- is a
family-owned trucking company that provides services in 48 states,
with general freight and garment-on-hangers service in both the
U.S. and Mexico. It operates with 75 owner operators and 60 company
trucks.  Headquartered in Akron, Ohio, G.D.S. Express was founded
in 1990 by Jack Delaney, a former Roadway Express executive.

G.D.S. Express and its affiliates sought protection under Chapter
11 of the Bankruptcy Code (Bankr. N.D. Ohio Lead Case No. 19-53034)
on Dec. 27, 2019.  At the time of the filing, G.D.S. Express had
estimated assets of less than $50,000 and liabilities of between $1
million and $10 million.  Judge Alan M. Koschik oversees the
cases.

Brouse McDowell, LPA is the Debtors' legal counsel.

The U.S. Trustee for Region 9 appointed a committee of unsecured
creditors on Jan. 15, 2020.  The committee is represented by
Levinson LLP.


GLOBAL MEDICAL: Moody's Rates Senior Secured Debt 'B1'
------------------------------------------------------
Moody's Investors Service affirmed Global Medical Response, Inc.'s
B2 Corporate Family Rating, B2-PD Probability of Default Rating
(PDR), B1 rating of senior secured debt and Caa1 rating of
unsecured debt. The outlook is stable.

The rating affirmation reflects GMR's successful track record of
integrating two large acquisitions in the last 3 years. Through
these acquisitions, GMR has materially expanded its scale and
improved its diversification by services, payors and geography. By
having diversified emergency services, including both air and
ground transportation businesses, the company has been able to
successfully navigate the negative impact of the coronavirus
pandemic and other market challenges.

At the same time, Moody's assigned B1 ratings to the company's new
senior secured term loan and senior secured notes. The proceeds
will be used to refinance the outstanding balance on the existing
term loan B maturing in 2022 and to cover transaction fees and
expenses. The refinancing transaction will extend maturities in a
leverage-neutral manner.

The following ratings were affirmed:

Global Medical Response, Inc.

Corporate Family Rating at B2

Probability of Default Rating at B2-PD

$1.455 billion senior secured first lien term loan due 2025 at B1
(LGD3)

$730 million unsecured term loan due 2026 at Caa1 (LGD5)

$370 million unsecured notes due 2023 at Caa1 (LGD5)

The following new ratings were assigned:

Global Medical Response, Inc.

$1.37 billion senior secured loan due 2025 at B1 (LGD3)

$500 million secured notes due 2025 at B1 (LGD3)

The following rating was affirmed and will be withdrawn at the
close of the refinancing transaction:

Global Medical Response, Inc.

$1.9 billion senior secured term loan due 2022 at B1 (LGD3)

Outlook action:

The outlook is stable

RATINGS RATIONALE

GMR's B2 Corporate Family Rating reflects its high leverage,
exposure to weather fluctuations in the air transport business and
legislative uncertainties surrounding out-of-network
reimbursements. Moody's estimates that the company's debt/EBITDA
was approximately 5.8 times as of June 30, 2020, including the
benefit of government grant aid in the second quarter of 2020.
GMR's ratings benefit from the company's leading position as a
provider of both air and ground emergency medical transportation
services. The ratings benefit from a track record of successful
integration of past acquisitions, significant diversification by
geography, payor and services.

The rating outlook is stable. The stable outlook reflects Moody's
view that GMR will generate low-to-mid single-digit organic EBITDA
growth and will continue to expand its footprint through tuck-in
acquisitions.

As a provider of emergency transport services, GMR faces high
social risk. An industry structure where a significant proportion
of emergency transport services are provided on an out-of-network
basis results in patients getting "surprise medical bills". Several
legislative proposals have been introduced in the U.S. Congress
that aim to eliminate or reduce the impact of such bills. Due to
reasons like the coronavirus pandemic and upcoming elections, the
progress for any surprise medical bill legislation has been slow.
Nevertheless, there is continued risk of a legislative action that
would adversely impact the company's profitability.

GMR's financial policies are expected to remain aggressive
reflecting its ownership by a private equity investor. The company
adopted an aggressive acquisition strategy since it was acquired by
KKR in 2015. Following KKR's ownership, the company made two large
scale acquisitions -- Air Medical Resources Group Inc. (an air
ambulance company) in 2017 and American Medical Response, Inc.
(ground medical transportation company) in 2018, mostly funded with
debt.

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

Ratings could be upgraded if the company sustains revenue growth
and maintains profitability such that adjusted debt to EBITDA
declines below 5.5 times. Reduced risks around surprise medical
bill legislation with respect to the air business could also
support an upgrade.

Ratings could be downgraded if operating performance deteriorates
for reasons including adverse legislative actions; if GMR's
financial policies become more aggressive, or if liquidity weakens.
Ratings could also be downgraded if debt/EBITDA is sustained above
6.5 times.

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

Global Medical Response, Inc provides air, ground, specialty and
residential fire services, and managed medical transportation
through its wholly owned subsidiaries -- Air Medical Group Holdings
LLC and AMR Holdco, Inc. The company is owned by Kohlberg Kravis
Roberts & Co. L.P (KKR). Net revenues were approximately $4.3
billion for the last twelve months ended June 30, 2020.


GOLDEN GATE EMPLOYMENT: Case Summary & 12 Unsecured Creditors
-------------------------------------------------------------
Debtor: Golden Gate Employment Services, LLC
        770 SE Indian Street
        Stuart, FL 34997

Business Description: Golden Gate Employment Services, LLC is a
                      health care services provider in Florida.

Chapter 11 Petition Date: September 17, 2020

Court: United States Bankruptcy Court
       Southern District of Florida

Case No.: 20-20037

Judge: Hon. Mindy A. Mora

Debtor's Counsel: Bradley S. Shraiberg, Esq.
                  SHRAIBERG LANDAU & PAGE PA
                  2385 NW Executive Center Dr
                  Suite 300
                  Boca Raton, FL 33431
                  Tel: 561 443 0800
                  Email: bss@slp.law

Estimated Assets: $0 to $50,000

Estimated Liabilities: $50 million to $100 million

The petition was signed by Paul Kamps, CFO.

A copy of the petition containing, among other items, a list of the
Debtor's 12 unsecured creditors is available for free at
PacerMonitor.com at:

https://www.pacermonitor.com/view/HAKCYYA/Golden_Gate_Employment_Services__flsbke-20-20037__0001.0.pdf?mcid=tGE4TAMA


GOLDEN GATE HOLDING: Case Summary & 11 Unsecured Creditors
----------------------------------------------------------
Debtor: Golden Gate Holding Company, LLC
        770 SE Indian Street
        Stuart, FL 34997

Business Description: Golden Gate Holding Company, LLC operates in

                      the health care industry.

Chapter 11 Petition Date: September 17, 2020

Court: United States Bankruptcy Court
       Southern District of Florida

Case No.: 20-20027

Judge: Hon. Mindy A. Mora

Debtor's Counsel: Bradley S. Shraiberg, Esq.
                  SHRAIBERG LANDAU & PAGE PA
                  2385 NW Executive Center Dr
                  Suite 300
                  Boca Raton, FL 33431
                  Tel: 561-443-0800
                  Email: bss@slp.law

Estimated Assets: $0 to $50,000

Estimated Liabilities: $50 million to $100 million

The petition was signed by Paul Kamps, CFO.

A copy of the petition containing, among other items, a list of the
Debtor's 11 unsecured creditors is available for free at
PacerMonitor.com at:

https://www.pacermonitor.com/view/3OZFN3I/Golden_Gate_Holding_Company_LLC__flsbke-20-20027__0001.0.pdf?mcid=tGE4TAMA


GOURDOUGH'S HOLDINGS: Seeks to Hire Rachel M. Morgan as Accountant
------------------------------------------------------------------
Gourdough's Holdings, LLC and its affiliates seek approval from the
U.S. Bankruptcy Court for the Western District of Texas to hire
Rachel M. Morgan, PLLC to prepare their 2019 tax returns.

Rachel M. Morgan quoted the Debtors $4,450 for the accounting
services it will provide.

The firm is a "disinterested person" within the meaning of Section
101(14) of the Bankruptcy Code, according to court filings.

The firm can be reached through:

     Rachel M. Morgan, CPA
     Rachel M. Morgan, PLLC
     4169 Canyon Glen Circle
     Austin, TX, 78732
     Telephone: (512) 826-4498
     Email: rachel@rmmorgancpa.com

                      About Gourdough's Holdings

Gourdough's Holdings, LLC and its affiliates operate in the service
industry and have made a name for themselves in the Austin food
scene. The companies started as a food trailer in 2009.   

Gourdough's Holdings holds 100 percent of the interest in
Gourdough's LLC, which operates the location on South First, and 80
percent of the interest of Gourdough's Public House, LLC, which
operates the dine-in restaurant location on S. Lamar.

Gourdough's Holdings and its affiliates sought Chapter 11
protection (Bankr. W.D. Tex. Lead Case No. 20-10720) on June 22,
2020.  At the time of the filing, Gourdough's Holdings had
estimated assets of less than $50,000 and liabilities of between $1
million and $10 million.  

Judge H. Christopher Mott oversees the cases.

Debtors have tapped Hajjar Peters, LLP as their bankruptcy counsel,
Texas Liquor Control as tax consultant, and Rachel M. Morgan, PLLC
as accountant.


GROWLIFE INC: Faces Lawsuit Over 2018 Sale Agreement
----------------------------------------------------
Growlife, Inc., received notice that William Blackburn and Brad
Mickelsen, minority shareholders of EZ-CLONE Enterprises, Inc., a
majority owned subsidiary of the Company, filed a complaint against
the Company and its officers Marco Hegyi and Mark Scott, currently
in the Superior Court of California, County of Sacramento for
claims related to breach under the Purchase and Sale Agreement
dated October 2018 between the Company and Plaintiffs.

The Complaint also alleges that the Company and its Officers made
certain false representations and other claims to consummate the
Transaction and as a result has failed to complete the second
closing as required under Purchase and Sale Agreement.  The
Plaintiffs are seeking rescission of the Purchase and Sale
Agreement, unspecified damages in excess of ten thousand dollars,
and other equitable relief.

Although the ultimate outcome of this matter cannot be determined
with certainty, the Company believes that the allegations stated in
the Complaint are without merit and the Company and the Officers
intend to defend themselves vigorously against such allegations.

                        About GrowLife

GrowLife, Inc. (PHOT)-- http://www.shopgrowlife.com/-- aims to
become the nation's largest cultivation service provider for
cultivating organics, herbs and greens and plant-based medicines.
Through a network of local representatives covering the United
States and Canada, regional centers and its e-Commerce team,
GrowLife provides essential goods and services including media,
industry-leading hydroponics and soil, plant nutrients, and
thousands of more products to specialty grow operations.  GrowLife
is headquartered in Kirkland, Washington and was founded in 2012.

GrowLife reported a net loss of $7.37 million for the year ended
Dec. 31, 2019, compared to a net loss of $11.47 million for the
year ended Dec. 31, 2018.  As of June 30, 2020, the Company had
$4.35 million in total assets, $7.77 million in total current
liabilities, $2.05 million in total long term liabilities, and a
total stockholders' deficit of $5.47 million.

BPM LLP, in Walnut Creek, California, the Company's auditor since
2019, issued a "going concern" qualification in its report dated
April 1, 2020 citing that the Company has sustained a net loss from
operations and has an accumulated deficit since inception. These
factors raise substantial doubt about the Company's ability to
continue as a going concern.


GRUPO FAMSA: Mexican Proceedings Recognized as Main Proceedings
---------------------------------------------------------------
Mexican retailer Grupo Famsa said Aug. 14, 2020, that US
authorities accepted its request for protection under Chapter 15 of
the bankruptcy code, while it reaches an agreement with its
creditors.

Grupo Famsa has defaulted on the payment of interest on several of
its outstanding debt securities.

In June 2020, Grupo Famsa, S.A.B. de C.V. commenced a voluntary
prepackaged bankruptcy case in the U.S. under chapter 11 of the
Bankruptcy Code.

In early August, Grupo Famsa SAB said it will no longer pursue
Chapter 11 proceedings in the U.S., and has instead filed for
bankruptcy protection in Mexico in a surprising about-face for the
company.  The loss of Famsa's banking licence derailed its Chapter
11 process.

In mid-August, Grupo won U.S. recognition of its Mexican
proceedings as its main proceedings.

Like other companies around the world, the Mexican retail sector
has been seriously affected by the coronavirus epidemic.

                         About Grupo Famsa

Grupo Famsa, S.A.B. de C.V. is a variable capital public stock
corporation under the laws of Mexico, originally organized on Dec.
27, 1979 under the name Corporacion Famsa, S.A. The Debtor is not a
public reporting company in the United States pursuant to the
Securities Exchange Act of 1934.  It is the parent company of
several non-debtor subsidiaries, both in the United States and
Mexico, which operate in the retail and banking sectors. Visit
https://www.grupofamsa.com/ for more information.

Grupo Famsa, S.A.B. de C.V. commenced a voluntary prepackaged
bankruptcy case under chapter 11 of the Bankruptcy Code (Bankr.
S.D.N.Y. Case No. 20-11505) on June 26, 2020. The petition was
signed by Luis Gerardo Villareal, Board Member. At the time of
filing, the Debtor estimated $1 billion to $10 billion in both
assets and liabilities. Pedro A. Jimenez, Esq. at PAUL HASTINGS LLP
represents the Debtor as counsel.

In early August, Grupo Famsa SAB said it will no longer pursue
Chapter 11 proceedings in the U.S., and has instead filed for
bankruptcy protection in Mexico in a surprising about-face for the
company.  The loss of Famsa's banking licence derailed its Chapter
11 process.

Grupo Famsa commenced a Chapter 15 case (Bankr. S.D.N.Y. Case No.
20-11811) on Aug. 6, 2020 to seek recognition of the proceedings in
Mexcio.



GTT COMMUNICATIONS: Gets Default Notice Over Late SEC Report Filing
-------------------------------------------------------------------
GTT Communications, Inc., received a notice of default on Sept. 2,
2020 from holders representing 25% or more of the aggregate
principal amount of the Company's outstanding 7.875% Senior Notes
due 2024 issued under that certain Indenture, dated as of Dec. 22,
2016, by and between the Company, as successor by merger to GTT
Escrow Corporation, and Wilmington Trust, National Association, as
Trustee.

As disclosed in the Form 12b-25, the filing of the Company's
Quarterly Report on Form 10-Q for the fiscal quarter ended June 30,
2020 has been delayed.  Under Section 4.15 of the Indenture, the
Company was required to file with the SEC quarterly financial
information for the quarter ended June 30, 2020 within 15 days of
the time periods specified in the SEC's rules and regulations
(including any grace periods).  The Company did not file the Late
SEC Report within 15 days of Aug. 17, 2020, which was the last day
of the extension period provided for the filing under Rule
12b-25(b) of the Securities Exchange Act of 1934, as amended, and
the Company has therefore failed to comply with such reporting
covenant.

Under the Indenture, the failure of the Company to comply with the
reporting covenant, if it continues for a period of 60 days after
the Notice Date (which 60 day Cure Period ends on Nov. 1, 2020),
would constitute an Event of Default, as that term is defined in
the Indenture.

If an Event of Default relating to the Late SEC Report occurs, then
the Trustee or the holders of not less than 25% in aggregate
principal amount of the outstanding Notes may declare all unpaid
principal of, premium, if any, and accrued interest on, all Notes
to be due and payable immediately by providing a notice of
acceleration.  As of the Notice Date, there was $575 million in
aggregate principal amount of the Notes outstanding.

If the Company filed the Late SEC Report with the SEC prior to
expiration of the Cure Period or after the expiration of the Cure
Period but prior to the receipt of a Notice of Acceleration, the
Company would cure the Default (and if applicable, the Event of
Default) and the Trustee or holders of the Notes would not be able
to provide a Notice of Acceleration with respect to the Default.

As previously disclosed, on Aug. 10, 2020, the Company entered into
Amendment No. 3 and Waiver to that certain Credit Agreement, dated
as of May 31, 2018 by and among the Company and GTT Communications
B.V., as borrowers, KeyBank National Association, as administrative
agent and letter of credit issuer, and the lenders and other
financial institutions party thereto from time to time.  Among
other things, the Amendment No. 3 and Waiver extended the deadline
for the Company to deliver its consolidated financial statements
under the Credit Agreement for the fiscal quarter ended June 30,
2020 to Oct. 30, 2020.  The failure to furnish such financial
statements by the extended deadline would constitute an event of
default under the Credit Agreement.  In addition, the Amendment No.
3 and Waiver waived any actual or potential defaults and/or events
of default under certain provisions of the Credit Agreement to the
extent the current review by the Company requires, after the date
of the Amendment No. 3 and Waiver but on or prior to Oct. 30, 2020,
an amendment, supplement, modification and/or withdrawal of (1) any
audit opinion related to historical consolidated financial
statements or (2) historical consolidated financial statements that
(x) reflect only non-cash changes and impacts and relate solely to
a "cost of revenue" review or (y) do not result in a decrease in
Consolidated EBITDA (as defined in the Credit Agreement) on a
cumulative basis starting with, and including, the first fiscal
period subject to such amendment, supplement, modification,
restatement and/or withdrawal through and including the fiscal
quarter ending March 31, 2020 by more than 15% compared to
Consolidated EBITDA reported by the Company for such cumulative
period. Upon an event of default which is not cured or waived, the
Credit Agreement permits, among other remedies, the administrative
agent (in its own discretion or upon written request by lenders
holding a majority of the outstanding loans and revolving
commitments under the Credit Agreement) to declare all principal,
interest and other obligations thereunder immediately due and
payable.

Due to the matters set forth above, the Company said there is a
substantial possibility that it will not be able to file the Late
SEC Report by the Oct. 30, 2020 deadline in the Amendment No. 3 and
Waiver relating to the Credit Agreement or by Nov. 1, 2020, the
last day of the Cure Period relating to the Notes.

Accordingly, the Company is likely to seek the consent of (a)
lenders holding at least (1) a majority of the outstanding loans
and revolving commitments under the Credit Agreement and (2) a
majority of the revolving commitments under the Credit Agreement,
to amend and/or waive certain provisions of the Credit Agreement
and (b) holders of at least a majority of the outstanding aggregate
principal amount of the Notes, to amend and/or waive certain
provisions of the Indenture.

                            About GTT

GTT Communications operates a Tier 1 internet network and owns a
fiber network that includes an expansive pan-European footprint and
subsea cables.  The Company's global network includes over 600
unique points of presence ("PoPs") spanning six continents, and the
Company provides services in more than 140 countries.

GTT reported a net loss of $105.9 million for the year ended Dec.
31, 2019, a net loss of $243.4 million for the year ended Dec. 31,
2018, and a net loss of $71.5 million for the year ended Dec. 31,
2017.  As of March 31, 2020, the Company had $4.74 billion in total
assets, $4.54 billion in total liabilities, and $196.8 million in
total stockholders' equity.

                          *     *     *

As reported by the TCR on Aug. 17, 2020, S&P Global Ratings placed
all of its ratings on U.S.-based internet protocol (IP) network
operator GTT Communications Inc., including its 'CCC+' issuer
credit rating, on CreditWatch with negative implications. The
CreditWatch placement follows GTT's announcement that it delayed
the filing of its second-quarter 2020 financial statements and
signed an amendment to extend the reporting deadline to Oct. 30,
2020.  The filing delay is due to certain issues stemming from the
company's recording and reporting of cost of goods sold (COGS) and
its related internal controls.


GTT COMMUNICATIONS: Moody's Cuts CFR to B3 & PDR to B3-PD
---------------------------------------------------------
Moody's Investors Service downgraded GTT Communications, Inc.'s
corporate family rating to B3 from B2 as well as the company's
probability of default rating (PDR) to B3-PD from B2-PD, the rating
on the company's senior secured facilities to B3 from B2 and the
rating on the company's 2024 senior unsecured notes to Caa2 from
Caa1. The ratings are on review for further downgrade. These rating
actions follows the company's announcement [1] yesterday that it
expected further material delays in the filing of its Q2 financials
which may, if unresolved by debt holders, result in an imminent
event of default. Moody's also downgraded the company's speculative
grade liquidity (SGL) rating to SGL-4 from SGL-2.

The delay in filing the Q2 financials stems from material failures
in the company's internal control over financial reporting which
have led to accounting issues. These issues are a key driver of the
current rating actions.

Downgrades:

Issuer: GTT Communications BV

  Senior Secured Bank Credit Facility, Downgraded to B3 (LGD3) from
B2 (LGD3); Placed Under Review for further Downgrade

Issuer: GTT Communications, Inc.

  Corporate Family Rating, Downgraded to B3 from B2; Placed Under
Review for further Downgrade

  Probability of Default Rating, Downgraded to B3-PD from B2-PD;
Placed Under Review for further Downgrade

  Speculative Grade Liquidity Rating, Downgraded to SGL-4 from
SGL-2

  Senior Secured Bank Credit Facility, Downgraded to B3 (LGD3) from
B2 (LGD3); Placed Under Review for further Downgrade

  Senior Unsecured Regular Bond/Debenture, Downgraded to Caa2
(LGD6) from Caa1 (LGD6); Placed Under Review for further Downgrade

Outlook Actions:

Issuer: GTT Communications, Inc.

  Outlook, Changed To Rating Under Review From Negative

RATINGS RATIONALE

The downgrade of the CFR to B3 and the review for further downgrade
reflect the increase in the risk of GTT defaulting in the coming
weeks. The company is currently reviewing accounting issues that
came to light in August 2020 and which Moody's expected would be
resolved by now. The company's unsecured lenders served GTT with a
notice of default on 2 September, which gives the company 60 days
(to 1 November 2020) to file its accounts before triggering an
event of default. However, GTT now expects to not be able to meet
that deadline, forcing it to negotiate alternate solutions with its
lenders. The outcome of these discussions is uncertain given the
weak operating performance of the company and the subordinated
nature of the $525 million 2024 senior note holders, behind c.$2.7
billion of first lien debt.

The review will focus on the outcome of these discussions as well
as on the terms of any debt agreement amendment. The review will
also focus on the company's accounting review and further material
delays to its filings could have further negative impact on the
ratings.

As part of yesterday's announcement, the company also said that it
was in advanced negotiations with a consortium of investors
(comprised of 3i Infrastructure plc, AustralianSuper and Macquarie
Capital) who had submitted a $2.15 billion bid for GTT's
infrastructure division. While the news is positive as GTT has
publicly committed to reducing leverage with the proceeds of this
sale, currently the agreement remains non-binding and in and of
itself does not preclude the senior noteholders from accelerating
repayment on the unsecured notes and precipitate a payment default
on 1 November.

The doubt cast by the accounting issues over the actual level of
historical EBITDA also make any estimate of pro-forma leverage
uncertain at the moment and the effect of the sale on the
underlying credit profile remains unclear.

The downgrade of GTT's speculative grade liquidity (SGL) rating to
SGL-4 from SGL-2 reflects the weakening of the company's liquidity
given the heightened risk of an imminent potential payment default
should debt holders and GTT not reach an agreement curing the delay
in filing of the company's Q2 10Q. The SGL-4 also reflects the
current lack of adequate financial information to assess the
company's liquidity balances.

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

The review will focus on the outcome of the company's discussions
with its lenders as well as on the terms of any potential amendment
to the debt agreements. The review will also focus on the company's
accounting review and further material delays to its filings could
have further negative impact on the ratings.

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


GTT COMMUNICATIONS: Terminates Fraser as SVP & Corporate Controller
-------------------------------------------------------------------
Daniel M. Fraser and GTT Communications, Inc. mutually agreed to
terminate Mr. Fraser's employment as senior vice president and
corporate controller of the Company, effective Sept. 22, 2020. Mr.
Fraser was also the Company's principal accounting officer.
In connection with Mr. Fraser's departure, the Company entered into
a Separation of Employment and Release Agreement with Mr. Fraser
confirming the final terms of his departure from the Company.
Pursuant to the terms of the Separation Agreement: (i) the Company
agreed to a cash severance payment to Mr. Fraser equal to four
months of his current base salary to be paid in twice monthly
installments; and (ii) the Company agreed to reimburse the payment
of Mr. Fraser's COBRA premiums either (a) for a maximum of twelve
months or (b) until he is eligible to participate in the health
insurance plan of another employer, whichever is sooner.  The
Separation Agreement confirms that certain provisions contained in
Mr. Fraser's employment agreement, including certain restrictions
relating to the non-solicitation of customers, disclosure of
proprietary information, and ownership of Company work product and
information, shall remain in full force and effect after the
termination of Mr. Fraser's employment.  The Separation Agreement
also contains customary terms applicable to the departure of an
executive of the Company.  These include confidentiality,
non-disparagement and return of Company documents provisions, as
well as a general release of claims against the Company.

Effective immediately, Steven Berns, the Company's chief financial
officer, has assumed Mr. Fraser's duties and will serve as the
Company's principal accounting officer on an interim basis until a
new individual has been named to this role.  Mr. Berns will take on
these responsibilities and serve in this additional role while
continuing to serve as the Company's chief financial officer.

                           About GTT

GTT Communications operates a Tier 1 internet network and owns a
fiber network that includes an expansive pan-European footprint and
subsea cables.  The Company's global network includes over 600
unique points of presence ("PoPs") spanning six continents, and the
Company provides services in more than 140 countries.

GTT reported a net loss of $105.9 million for the year ended Dec.
31, 2019, a net loss of $243.4 million for the year ended Dec. 31,
2018, and a net loss of $71.5 million for the year ended Dec. 31,
2017.  As of March 31, 2020, the Company had $4.74 billion in total
assets, $4.54 billion in total liabilities, and $196.8 million in
total stockholders' equity.

                         *     *     *

As reported by the TCR on Aug. 17, 2020, S&P Global Ratings placed
all of its ratings on U.S.-based internet protocol (IP) network
operator GTT Communications Inc., including its 'CCC+' issuer
credit rating, on CreditWatch with negative implications. The
CreditWatch placement follows GTT's announcement that it delayed
the filing of its second-quarter 2020 financial statements and
signed an amendment to extend the reporting deadline to Oct. 30,
2020.  The filing delay is due to certain issues stemming from the
company's recording and reporting of cost of goods sold (COGS) and
its related internal controls.


HERITAGE RESIDENTIAL: Seeks Court Approval to Hire Bookkeeper
-------------------------------------------------------------
Heritage Residential Home for the Aged, LLC seeks approval from the
U.S. Bankruptcy Court for the Eastern District of Tennessee to hire
Peggy Robinson of Robinson Tax Service as its bookkeeper.

The bookkeeper will provide tax preparation services for an hourly
fee of $30.

Ms. Robinson is a "disinterested person" within the meaning of
Section 101(14) of the Bankruptcy Code.

The bookkeeper can be reached through:

     Peggy Robinson
     Robinson Tax Service     
     1739 Westland Dr SW
     Cleveland, TN 37311
     Telephone: (423) 339-2449

                  About Heritage Residential Home
                         for the Aged LLC
    
Heritage Residential Home for the Aged, LLC, a Dayton, Tenn.-based
senior care services provider, sought protection under Chapter 11
of the Bankruptcy Code (Bankr. E.D. Tenn. Case No. 20-12193) on
Aug. 13, 2020. The petition was signed by Patricia Martin, the
company's chief manager.

At the time of the filing, Debtor had estimated assets of between
$100,001 and $500,000 and liabilities of the same range.

Judge Nicholas W. Whittenburg oversees the case.  Richard Banks &
Associates, P.C. is Debtor's legal counsel.


HERTZ GLOBAL: Need to Offload About 200,000 Cars by December 2020
-----------------------------------------------------------------
Kristen Lee, writing for Business Insider, reports that as part of
its bankruptcy proceedings, rental car giant Hertz will have to
offload nearly 200,000 cars by the end of this year, according to a
United States Securities and Exchange Commission filing.

Hertz, which filed for bankruptcy in May, must "dispose of" at
least 182,521 leased cars by December 31, 2020, the filing reads.
This is part of a $650-million temporary deal the company made with
a creditor group, reported The Wall Street Journal.

The deal requires Hertz to pay its asset-backed securities lenders
$650 million of rent in equal installments per month from July to
December. An unnamed person familiar with the deal told The
Journal's Becky Yerak that this amounts to "about half of what
Hertz is contractually obligated to pay."

They also said that "Hertz is also trying to arrange up to about $2
billion in financing to help it get through chapter 11."

The Journal reported that the settlement is tentative and still
needs to be approved in court.

But, under it, Hertz will have to get rid of 182,521 leased cars,
which will leave it with approximately 310,000 leased cars. Hertz
will be allowed to retain $900 from each car it sells, according to
The Journal. The rest of the money made from selling the cars will
go toward repaying the lenders.

It's not clear how the cars will be sold — perhaps they'll be
available through Hertz's own car sales website — but this could
be good news for people shopping for a used car. Used car sales
have rebounded well during the COVID-19 pandemic while new-car
sales are lagging.

In May 2020, before the bankruptcy announcement, Business Insider
reported that the rental car giant put more than 20 Chevrolet
Corvette Z06s up for sale at steeply discounted prices. They all
sold within days.

                            About Hertz

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

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

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

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

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


IQOR US: Moody's Cuts PDR to D-PD on Bankruptcy Filing
------------------------------------------------------
Moody's Investors Service affirmed iQor US, Inc.'s corporate family
rating at Ca as well as the Ca rating on the issuer's first lien
senior secured term loan and the C rating on its second lien senior
secured term loan. Concurrently, Moody's downgraded the probability
of default rating (PDR) to D-PD from Ca-PD. The downgrade was
prompted by iQor's September 10, 2020 announcement that it had
initiated Chapter 11 bankruptcy proceedings.[1] The outlook is
stable.

RATINGS RATIONALE

The Ca CFR and below listed instrument ratings reflect the
bankruptcy filing and the expected recovery rates on the 1st and
2nd lien debt. Subsequent to the actions, Moody's will withdraw the
ratings due to iQor's bankruptcy filing.

The following ratings were affected and will be withdrawn:

Affirmations:

Issuer: iQor US, Inc.

Corporate Family Rating, Affirmed Ca

Senior Secured 1st Lien Bank Credit Facility, Affirmed Ca (LGD4)
from (LGD3)

Senior Secured 2nd Lien Bank Credit Facility, Affirmed C (LGD6)

Downgrades:

Issuer: iQor US, Inc.

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

Outlook Actions:

Issuer: iQor US, Inc.

Outlook, Remains Stable

iQor US, Inc., a wholly owned operating subsidiary of iQor Holdings
Inc., is a global provider of customer engagement and
technology-enabled Business Process Outsourcing (BPO) solutions.
The company generated revenue of approximately $940 million in the
last twelve months ended March 31, 2020.

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


J. CREW: Full-Scale Lien Fight of Creditors Erupts
--------------------------------------------------
Vince Sullivan of Law360 reports that the official committee of
unsecured creditors in the Chapter 11 case of fashion retailer J.
Crew is challenging the liens of secured lenders, saying up to $32
million of the debtor's assets are not encumbered by the liens.

The committee said in court filings Monday that it is seeking
standing to contest the liens on behalf of the bankruptcy estate
since J. Crew waived its challenge rights as part of a
post-petition financing arrangement with the prepetition lenders.

"After review and investigation, the committee has determined that
the prepetition [asset-based loan] secured parties and prepetition
term secured parties failed to perfect or do not hold liens on
various assets, including deposit accounts which contained
approximately $32 million as of the petition date," the committee's
filing said.

The committee also argued that J. Crew is intentionally
undervaluing the company and its assets in an effort to blur the
lines between voting classes on its Chapter 11 plan. The filings
say the debtor is worth $2.94 billion but that it is only
purporting to be valued at $1.75 billion in its plan. The lower
valuation, the committee said, isn't enough to pay down existing
term loan debt and leads to the creation of a deficiency claim held
by the term loan lenders that is being classified as a general
unsecured claim.

Since general unsecured creditors are largely being left out of the
money in the proposed Chapter 11 plan, the committee argues that
the undervaluing of the assets and the classification of the
deficiency claims are being used to sway the vote of the unsecured
creditors class on the plan.

The terms of the proposed plan would exchange existing term loan
and note debt for the equity in a reorganized J. Crew, with those
classes having allowed claims of $716 million and $400 million,
respectively. Unsecured creditors will receive their pro rata share
of a $3 million cash pool.

The committee is asking the bankruptcy court to properly value the
company so that there is no term loan deficiency claim, or to
classify the deficiency claim separately from other general
unsecured claims.

Confirmation of the proposed plan is scheduled for Aug. 25 before
U.S. Bankruptcy Judge Keith L. Phillips.

Representatives for the committee declined to comment on the
filings late Wednesday, and representatives for the debtor could
not immediately be reached late Wednesday for comment.

J. Crew was the first major retailer to succumb to the worldwide
spread of COVID-19 and the resulting business restrictions placed
on nonessential operations, filing for Chapter 11 protection May 4
with a plan in hand to restructure $1.65 billion of debt through
the equity swap with lenders.

A $400 million debtor-in-possession financing package was provided
by prepetition lenders including Anchorage Capital Group LLC, GSO
Capital Partners and Davidson Kempner Capital Management LP, among
others.

                      About J.Crew Group

J.Crew Group, Inc. is an internationally recognized omni-channel
retailer of women's, men's and children's apparel, shoes and
accessories. As of May 4, 2020, the Company operates 181 J.Crew
retail stores, 140 Madewell stores, jcrew.com, jcrewfactory.com,
madewell.com and 170 factory stores.  The company was purchased in
2011 by TPG Capital and Leonard Green & Partners LP for $3
billion.

J.Crew Group, Inc., and 17 related entities, including its parent,
Chinos Holdings, Inc., sought Chapter 11 protection on May 4, 2020
after reaching agreement with lenders on a deal that will convert
approximately $1.65 billion of the Company's debt into equity.  The
lead case is In re Chinos Holdings, Inc. (Bankr. E.D. Va. Lead Case
No. 20-32181).

J.Crew was estimated to have at least $1 billion in assets and
liabilities as of the bankruptcy filing.

Weil, Gotshal & Manges LLP is serving as legal counsel, Lazard is
serving as investment banker and AlixPartners, LLP is serving as
restructuring advisor to J.Crew Group, Inc.  Anchorage Capital
Group and other members of an ad hoc committee are represented by
Milbank LLP as legal counsel and PJT Partners LP as investment
banker.  Omni Agent Solutions is the claims agent.

The Official Committee of Unsecured Creditors is represented by
Robert J. Feinstein, Bradford J. Sandler, Shirley S. Cho and Debra
I. Grassgreen of Pachulski Stang Ziehl & Jones LLP and Robert S.
Westermann and Brittany B. Falabella of Hirschler Fleischer PC.


J.C. PENNEY CORP: First-Ever Store Up for Auction
-------------------------------------------------
Oil City News reports that J.C. Penney is putting its first-ever
store up for auction amid struggles to survive.

JCPenney, which traces its roots to the little store in Kemmerer,
Wyo., announced it was auctioning the store along with more than
160 other properties.

According to Forbes Magazine, the retailer's "disposition
portfolio" was assembled by real estate firms Cushman & Wallace and
Riley.  It lists 142 leased locations and 21 company-owned stores
in the auction, which is scheduled for the middle of September
2020.

"These 163 locations were targeted for closure in order to help
facilitate the company's sale as part of the court proceedings,"
said Forbes.

Forbes says most of the properties were currently involved in
liquidation proceedings, but the Kemmerer store addition was a
surprise.

"The store will likely be liquidated and closed soon after this
auction date," said Forbes.

Businessman James Cash Penney opened the Kemmerer store in 1902 as
the Golden Rule before rebranding with his own name. It has
operated continuously ever since and has since become something of
a tourist attraction.

The retailer become one of the largest in the country during the
last century. Today it operates more than 800 stores, but filed for
Chapter 11 bankruptcy protection in May 2020.

                      About JC Penney Corp.

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

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

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


The Official Committee of Unsecured Creditors appointed to the
Chapter 11 cases tapped Cooley LLP and Cole Schotz P.C. as
co-counsel and FTI Consulting, Inc. as financial advisor.


J.C. PENNEY: Seeks Court Approval for $47.7M 'KERP' Payments
------------------------------------------------------------
WWW reports that J.C. Penney has proposed a payment program that it
argues will help it retain a large group that it refers to in court
filings as "key employees," but which would exclude top executives.


The retailer sought approval from the Texas bankruptcy court
overseeing its proceedings for a "non-insider key employee
retention program" that would amount to roughly $47.7 million and
cover more than 4,200 employees — roughly 5 percent of its
workforce, according to court filings on Thursday, July 30, 2020.

Such so-called KERP programs are a common feature of corporate
bankruptcies, and prone to scrutiny as retailers in bankruptcy are
also often simultaneously devising plans to close stores and let go
of employees.

J.C. Penney, which has a total of roughly 85,000 employees, had
disclosed last month that it would be laying off 1,000 employees
across corporate, field management and international positions. In
an SEC filing in May 2020, the retailer also announced plans to
close a total of around 242 stores over the next two years. The
company has begun the process of closing a group of more than 150
stores.

The retailer described the proposed program as a "continuation" of
the kind of bonuses it normally offered employees in addition to
their base pay. Without such incentive payments, the company risked
losing employees with "institutional knowledge," according to a
declaration filed by Ryan Beger, a consulting director at Willis
Towers Watson US LLC, which Penney's had hired in April 2020.

Beger's filing suggested the company believed that to be the case
even during a pandemic that has led to record high unemployment
rates — 14.7 percent in April 2020, the highest recorded in the
U.S., according to the U.S. Bureau of Labor Statistics — and
snowballing retail bankruptcies.  

"Even in the current state of the economy, absent providing similar
compensation programs that are customarily found in the competitive
market and in the debtors' historical practices, these employees
may be more likely to leave debtors' employ," he wrote in the
filing.

It's not clear which employee job categories would be covered under
the KERP plan, or how the bonuses would be allocated among them, as
the company is also seeking the court's permission to file under
seal the list of program participants. The list contains
"commercial information" including "key employees' job titles and
levels and their proposed retention payments," according to J.C.
Penney's filings.

Such "commercial information" should be protected because it would
give competitors a window into its operations and information that
could be used to poach talent, the retailer argued.

"In particular, the debtors' competitors could gain an unfair
advantage if they knew the awards the debtors were providing
employees at various ranks," the retailer said in a filing. "The
commercial information provided in the Non-Insider KERP Participant
List could also enable the debtors’ competitors to lure the
Non-Insider KERP Participants, whose services are critical to
preserving and maximizing value of the debtors' estates."

Under the proposed plan, about $24.2 million of the retention
payments would be due during the Chapter 11 proceedings, according
to one of filings by J.C. Penney.

The program participants would not include any so-called corporate
"insiders," which the U.S. Securities and Exchange Commission
describes as officers, directors and certain equity owners. The
company did award its top executives some $9.9 million before its
bankruptcy filing, according to an SEC filing in May. In
particular, its chief executive officer Jill Soltau was granted a
$4.5 million cash incentive award, while its chief financial
officer, chief merchant and chief human resources officer were each
granted $1 million.

                     About JC Penney Corp.

J.C. Penney Company, Inc., one of U.S.'s largest department store
operators with about 1,100 locations in the United States and
Puerto Rico, and its debtor affiliates filed their voluntary
petitions for relief under Chapter 11 of the Bankruptcy Code
(Bankr. S.D. Tex. Case No. 20-20182) on May 15, 2020. Judge David
R. Jones oversees the cases.

The Debtors tapped Kirkland & Ellis LLP and Kirkland & Ellis
International LLP as their counsel, Jackson Walker LLP as their
local and conflicts counsel, and KPMG LLP as tax consultant.

Okin Adams, LLP is legal counsel for the ad hoc committee
representing equity interest holders in Debtors' bankruptcy cases.

The Office of the U.S. Trustee for Region 7 appointed a committee
to represent unsecured creditors in Debtors' cases.  The committee
is represented by Cole Schotz, P.C. and Cooley, LLP.


JAMES H. G. NAISBY: $1.83M Sale of Long Beach Twp. Property Okayed
------------------------------------------------------------------
Judge Vincent F. Papalia of the U.S. Bankruptcy Court for the
District of New Jersey authorized James H. G. Naisby and Diane H.
Naisby to sell their real property commonly known as 123 E.
Mariner's Lane, Long Beach Twp., New Jersey to LBI Property
Development, LLC $1.83 million.

The sale is free and clear of all liens, claims and interests, with
valid liens claims and interests, including the first mortgage lien
of the Bank of America, attaching to the proceeds of sale.

The Debtors are authorized to satisfy the first mortgage lien of
the Bank of America out of the closing proceeds if provided with an
acceptable payoff letter prior to closing by the Bank.

They are authorized to make all customary and necessary closing
adjustments and pay all customary and necessary closing costs to
effectuate the sale and transfer of the Property in accordance with
the Contract, including the payment of required real property taxes
and transfer taxes.

The real estate commissions to Sand Dollar Real Estate in the
amount of $91,500 be and the same are approved and the Debtors are
authorized to pay same at closing out of the closing proceeds.
Sand Dollar Real Estate is authorized to pay the selling realtor
from said commissions its share thereof pursuant to MLS rules.

The Federal Rule of Bankruptcy Procedure 6004(h) is waived and the
closing may occur any time after entry of the Order.

A copy of the Order will be served on all parties in interest
within seven days of the Order.  

A hearing on the Motion was held on Sept. 15, 2020.  

James H. G. Naisby and Diane H. Naisby sought Chapter 11 protection
(Bankr. D.N.J. Case No. 20-13088) on Feb. 25, 2020.  The Debtors
tapped Gary Marks, Esq., as counsel.


JONATHAN S. RESNICK: Trustee Taps Nicole Testa as Special Counsel
-----------------------------------------------------------------
Zvi Guttman, the trustee appointed in the Chapter 11 cases of The
Law Offices of Jonathan S. Resnick, LLC and its affiliates, seeks
approval from the U.S. Bankruptcy Court for the District of
Maryland to employ the Law Office of Nicole Testa Mehdipour, P.A.
as his special counsel.

The trustee needs the firm's legal assistance to monitor the
Chapter 7 case filed by Jonathan Resnick, Esq., in the U.S.
Bankruptcy Court for the Southern District of Florida on June 15.


Mr. Resnick is the principal of the Law Offices of Jonathan S.
Resnick, LLC and the Law Offices of Jonathan S. Resnick, PLLC.

The firm's services will be provided mainly by Nicole Mehdipour,
Esq., who will be paid at an hourly rate of $495.

Nicole Testa neither represents nor holds any interest adverse to
Debtors and their estates, according to court filings.

The firm can be reached through:

     Nicole Mehdipour, Esq.
     Law Office of Nicole Testa Mehdipour, P.A.
     200 East Broward Blvd., Suite 1110
     Fort Lauderdale, FL 33301
     Telephone: (954) 858-5880
     Facsimile: (954) 208-0888

               About The Law Offices of Jonathan S. Resnick

The Law Offices of Jonathan S. Resnick, LLC and The Law Offices of
Perry A. Resnick, LLC, Maryland-based law firms, sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. D. Md. Case Nos.
20-12822 and 20-12820) on March 4, 2020.  On April 6, 2020, The Law
Offices of Jonathan S. Resnick, PLLC filed a voluntary Chapter 11
petition (Bankr. D. Md. Case No. 20-14188). The cases are jointly
administered under Case No. 20-12822.   

At the time of the filing, Jonathan S. Resnick, LLC and Jonathan S.
Resnick, PLLC each had estimated assets of between $1 million and
$10 million and liabilities of between $10 million and $50 million.
Perry A. Resnick disclosed assets of between $1 million and $10
million and liabilities of the same range.

Debtors hired The VerStandig Law Firm and McNamee Hosea Jernigan
Kim Greenan & Lynch, P.A as their legal counsel.

Zvi Guttman was appointed as Debtors' Chapter 11 trustee. The
trustee is represented by The Law Offices of Zvi Guttman, P.A.


KLAUSNER LUMBER: Binderholz Wins Auction for Assets
---------------------------------------------------
Greene Publishing reports that the Austrian binderholz Group, based
in Fügen, purchased all assets of Klausner Lumber One LLC, based
in Live Oak, Fla., in the auction held on Aug. 21, 2020.  At the
auction, binderholz was able to prevail over Mercer Inc. and Mayr
Melnhof Holz and was awarded the contract at USD $61 million.  The
transaction is expected to close at the beginning of October 2020.

For the binderholz Group, this step is a further milestone in the
company's history.  For the first time, binderholz will produce
outside Europe.  The site in the centre of Florida is located in
one of the best growth areas for the "Southern Yellow Pine"
species, which is in high demand in the USA.  This ensures a high
availability of round timber at a price level that has been
extremely stable in recent years. In addition, the eastern part of
the USA is one of the most densely populated areas in the states,
so that the corresponding demand also exists on the sales side.

Reinhard Binder, CEO of binderholz, explains the strategic motives
as follows: "We see the American solid wood market as a strategic
target and growth market for the binderholz Group. The USA is by
far the largest consumer of wood in the world - with a growing
demand. Following the founding of Binderholz Timber Inc., Atlanta,
USA in 2019 and a consistent and successful market development, the
USA will become one of the most important sales markets for
binderholz in 2020 with over 450,000 m³ of planed products and
sales of around EUR 170 million. The purchase of our own production
facility in what is by far the largest world market for solid wood
was therefore the next logical step. We also want to further
develop our successful business model in the USA."

The acquired sawmill Klausner Lumber One LLC, located in Live Oak,
has a sawing capacity of over 1 million cubic meters of round
timber and a further processing capacity of over 500,000 cubic
meters of sawn timber and planed products.  Production at the
Florida site is scheduled to resume by the end of 2020 at the
latest.  As a result of this takeover, almost seven million solid
cubic metres of round timber will be processed in the binderholz
Group's plants in the then eight sawmills in Austria, Germany,
Finland and the USA.  Of the approx. four million cubic meters of
sawn timber, almost three million cubic meters of solid wood
products will then be produced.

Through Binderholz Timber Inc. and its employees, the Binderholz
Group already has a very good network and customer contacts in the
USA. In recent years, binderholz has been able to complete numerous
projects in the USA via Binderholz Bausysteme GmbH. With the
acquisition of its own production facility in the USA, binderholz
will further strengthen its presence in this market and
continuously advance the internationalization and diversification
of the binderholz Group in terms of market and production.

In spite of corona, the binderholz Group was able to operate
production at full capacity at all locations in 2020, while
complying with all hygiene and safety standards, and thus not only
maintaining but also expanding the workforce. Leading European
company for solid wood products and innovative building solutions.

In the wood industry, the name Binder stands for tradition and
reliability, combined with high-tech and innovation. Still a small
sawmill operation more than 60 years ago, today the family company
binderholz presents itself as one of the leading European companies
equipped with state-of-the-art technologies and production methods
and with a corresponding reputation on the market.

binderholz has 13 locations: around 3,000 people are employed at
five Austrian locations - Fügen, Jenbach, St. Georgen, Hallein and
Unternberg; five German locations - Kösching, Burgbernheim,
Oberrot, Baruth and Wolfegg; two Finnish locations - Lieksa and
Nurmes; and one US location - Live Oak, Fla. The solid wood product
range extends from sawn timber, profiled timber, single and
multi-layer glued solid wood panels, glued laminated timber to
binderholz BBS cross laminated timber. The residual wood from
production is processed into biofuels, green electricity,
multipurpose boards, pressboard blocks and pressboard pallets. The
products are exported all over the world.

With this acquisition, the binderholz Group will achieve sales of
well over EUR 1.3 billion. binderholz produces sustainably and
efficiently according to the no-waste principle and recycles 100
percent of the resource wood.

binderholz owes its reputation to the customer service and
proximity to customers, a product range and pricing policy that is
tailored to the market, and binderholz quality management.

                  About Klausner Lumber One

Klausner Lumber One, LLC, is a privately held company in the lumber
and plywood products manufacturing industry.  It is 100% owned by
non-debtor Klausner Holding USA, Inc.

Klausner Lumber One sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Del. Case No. 20-11033) on April 30,
2020. At the time of the filing, Debtor disclosed assets of between
$100 million and $500 million and liabilities of the same range.

The Debtor tapped Westerman Ball Ederer Miller Zucker & Sharfstein,
LLP as bankruptcy counsel; Morris, Nichols, Arsht & Tunnell, LLP as
local counsel; Asgaard Capital, LLC as restructuring advisor; and
Cypress Holdings, LLC as investment banker.




KOHL'S CORP: Egan-Jones Cuts Sr. Unsecured Debt Ratings to BB-
--------------------------------------------------------------
Egan-Jones Ratings Company, on September 10, 2020, downgraded the
foreign currency and local currency senior unsecured ratings on
debt issued by Kohl's Corporation to BB- from BB.

Headquartered in Menomonee Falls, Wisconsin, The Company's stores
feature apparel, footwear and accessories for women, men and
children, soft home products such as sheets and pillows, and
housewares targeted to middle income customers.



L BRANDS: S&P Rates $750MM Senior Unsecured Guaranteed Notes 'B+'
-----------------------------------------------------------------
S&P Global Ratings assigned its 'B+' issue-level rating and '4'
recovery rating to Columbus, Ohio-based apparel and personal care
products retailer L Brands Inc.'s proposed $750 million senior
unsecured guaranteed notes maturing in 2030. The '4' recovery
rating indicates S&P's expectation for average (30%-50%; rounded
estimate: 30%) recovery in the event of a payment default. S&P's
existing issue-level ratings on the company's senior secured and
senior unsecured notes without guarantees are unaffected by the
transaction. L Brands will use the proceeds from this issuance for
a tender offer on its 2022, 2023, 2033, and 2037 notes. The company
will also use existing cash on balance sheet to repay the $450
million of notes maturing in 2021.

S&P's 'B+' issuer credit rating and stable outlook on L Brands
remain unchanged and continue to reflect its expectation that
declining sales at Victoria's Secret will offset modest sales
growth at Bath and Body Works, which--combined with the rating
agency's current expectation the company will be
profitable--indicates its leverage will be in the mid-4x range in
2020 and below 4x in 2021.


LAKELAND TOURS: Court OKs WorldStrides' $368M Chapter 11 Financing
------------------------------------------------------------------
Law360 reports that a New York bankruptcy judge on Thursday
approved nearly $368 million in debtor-in-possession financing that
bankrupt educational tour company WorldStrides says it needs to pay
back customers for trips canceled by the COVID-19 pandemic.

At a telephone hearing, U. S. Bankruptcy Judge James Garrity
approved the company's DIP financing over junior noteholders'
objections to the liens the DIP financing plan would place on any
third-party payments the business might be able to recover under
bankruptcy law. "My issue is that the debtors need the money today
... to finance a business that has no income," he said.

                       About Lakeland Tours

Lakeland Tours, LLC and its affiliates, including WorldStrides
Holdings, LLC, provide full-service educational travel and
experiential learning programs domestically and internationally for
students from K12 to graduate level.  They are one of the largest
accredited U.S. travel companies, providing organized educational
travel and other experiential learning programs for more than
550,000 students in 2019.

WorldStrides claims to be the largest student educational travel
company in the country.  WorldStrides has provided a variety of
educational travel programs to more than two million elementary,
middle, and high school students since its inception in 1967.

Lakeland Tours and certain of its affiliates sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Lead Case
No. 20-11647) on July 20, 2020.  Kellie Goldstein, chief financial
officer, signed the petitions.

At the time of the filing, the Debtors had consolidated assets of
$1 billion to $10 billion and consolidated liabilities of $1
billion to $10 billion.

The Debtors tapped Kirkland & Ellis LLP and Kirkland & Ellis
International, LLP as their bankruptcy counsel, KPMG LLP as
financial advisor, Houlihan Lokey Capital Inc. as investment
banker, and Daniel J. Edelman Holdings Inc. as communications
consultant and advisor.  Stretto is Debtors' notice and claims
agent.







LAS VEGAS MONORAIL: Sets Bidding Procedures for All Assets
----------------------------------------------------------
Las Vegas Monorail Co. asks the U.S. Bankruptcy Court for the
District of Nevada to authorize the bidding procedures in
connection with the sale of substantially all assets to the Las
Vegas Convention and Visitors Authority ("LVCVA"), under the terms
of the Asset Purchase and Sale Agreement, dated Sept. 2, 2020,
subject to overbid.

LVCVA will pay to the Debtor the sum of $24,146,094 as
consideration for the Sale Assets.  This includes the
non-refundable earnest money deposit of $1,946,730, payment of the
redemption price of $20,207,057 for the Conduit Loan, $150,000 for
the EIDL Loan and $1,842,307 of assumed trade and contractual
liabilities of the Debtor.  In addition, the Stalking Horse Bidder
will pay all Cure Amounts for Assumed Executory Contracts.

The Debtor is a Nevada non-profit corporation that owns the Las
Vegas Monorail, an approximately 3.9-mile monorail mass transit
system, including two parallel elevated tracks, seven elevated
stations, an operation, maintenance and storage facility ("OMSF"),
nine automated four car trains, and related equipment, facilities,
and improvements ("System").  The System is operated on land owned
by Clark County, Nevada pursuant to rights of way and the Franchise
Agreement with the County, and on privately owned land pursuant to
a ground leases and grants of easement.

Pursuant to the Indenture of Trust, dated Oct. 1, 2019, by and
between the Public Finance Authority, as from time to time amended
and supplemented, and UMB Bank, N.A., the Authority issued the
Public Finance Authority Revenue Bonds (Las Vegas Monorail) Series
2019A and Public Finance Authority Revenue Bonds (Las Vegas
Monorail) Series 2019B, to make a loan ("Conduit Loan") to the
Debtor to finance (a) finance the cost of the acquisition,
construction, improving, and/or equipping of a transportation
project, (b) refinance certain short-term indebtedness incurred by
Debtor in the aggregate principal amount of $13.75 million owed
pursuant to that certain Loan Agreement dated as of July 12, 2019,
to refinance certain of the costs of the acquisition, construction,
improving and/or equipping the existing approximately 3.9 mile,
7-station, 9-train monorail along the east side of the Las Vegas
Strip owned and operated by the Borrower , and (c) and other costs
required in connection therewith.  The Debtor as a non-profit
corporation issued the Bonds are tax-free bonds.

The Conduit Loan was in the initial principal amount of $20.5
million, of which $20.4 million was to accrue interest at the rate
of interest applicable to the 2019A Bonds from the Date of
Delivery, $100,000 will accrue interest at the rate of interest
applicable to the 2019B Bonds from the Date of Delivery, and an
amount of up to $13,115,000.00, to the extent drawn down on the
2019B Bonds Final Draw Down Date, will accrue interest at the rate
of interest applicable to the 2019B Bonds from the 2019B Bonds
draws.  

The sole purchaser of the Bonds was Preston Hollow Capital, LLC
("PHC") which as of the Petition Date remains the sole holder of
the Bonds.  As of the Petition Date, the aggregate principal amount
outstanding under the Conduit Loan was $20.5 million.

Pursuant to that certain Loan Authorization and Agreement, dated
June 15, 2020 ("EIDL Loan Agreement"), the U.S. Small Business
Administration authorized an Economic Injury Disaster Loan to
Debtor in the amount of $150,000.  In return for the EIDL Loan, the
Debtor promised to pay to the order of the SBA $150,000, interest
on the unpaid principal balance and all other amounts required
under the Note, dated June 15, 2020.  The Debtor also executed a
Security Agreement, dated June 15, 2020 ("EIDL Security Agreement")
under which Debtor granted the SBA a security interest in the all
tangible and intangible personal property.

In October 2019, based on the strength of the performance of the
System at the time and on projections of System performance, the
Debtor secured the Conduit Loan.  The Debtor began 2020 with
increases in ridership and revenue, with ticket sales through the
first two months of the year up over 7%.   Through March 18, 2020,
when System operations were suspended, the Debtor saw a net
operating gain of nearly $1.6 million, a 48% increase over 2019.

On March 18, 2020, after Governor Sisolak issued orders to close
all non-essential businesses due to Covid-19 case in Nevada, all
hotels, restaurants, showrooms, shopping and entertainment venues
along the Las Vegas Strip, including those connected to the System,
shut down.  On March 31, 2020, the Debtor had $1.12 million in
unrestricted cash with which to maintain the system in closed
status.   By Aug. 31, 2020 nearly all of the unrestricted cash had
been exhausted.  

Given Debtor's current financial condition, the existing
pre-petition and post-petition marketing of its business, the
implications if sold to a for-profit entity, and the fact that a
sale on the terms set forth in the Stalking Horse Agreement will
result in satisfaction of substantially all of its pre-petition
liabilities and allow for the resumption of the Monorail revenue
operations
when feasible, the Debtor believes that the terms of the Stalking
Horse Agreement and timeline are both reasonable and necessary
under the circumstances of the Chapter 11 Case and in the best
interests of the estate and the creditors.  Accordingly, it submits
that the proposed Sale procedure and timeline is in the best
interests of its estate and creditors and should be approved.

The salient terms of the APA are:

     a. Assets Sold: Substantially all assets

     b. Purchase Price:  The Stalking Horse Bidder will pay to the
Debtor the sum of $24,146,094 as consideration for the Sale Assets.
This includes the non-refundable earnest money deposit of
$1,946,730, payment of the redemption price of $20,207,057 for the
Conduit Loan, $150,000 for the EIDL Loan and $1,842,307 of assumed
trade and contractual liabilities of the Debtor.  In addition, the
Stalking Horse Bidder will pay all Cure Amounts for Assumed
Executory Contracts.

     c. Redemption Agreement: Pursuant to the Redemption Agreement
executed by and between LVCVA, PHC and UMB, PHC and UMB have agreed
to accept in full payment of the Conduit Loan the sum of
$22,035,000 plus interest accrued to the date of redemption of the
Bonds pursuant to the Sale, which is less than the redemption price
calculated pursuant to Section 4.01(a) and 4.01(b) of the
Indenture.

     d. Reserve Accounts: In accordance with the Section 2(c)(1) of
the Redemption Agreement, on the Closing Date without further order
of the Bankruptcy Court, UMB and PHC will apply up to $2.5 million
in payment of the Bonds from amounts held under the Indenture or
Financing Agreement on deposit in the Capital Expenditure Reserve
Fund, Supplemental Reserve Fund, Operating Reserve Fund, Debt
Service Fund and the Reserve Fund, or any other reserve held by
UMB.  UMB and PHC will be entitled to withdraw from the 2019
Trustee Held Funds an amount not to exceed $50,000 for legal fees
incurred in connection with the Bankruptcy Case with the balance of
the 2019 Trustee Held Funds after payment of the $2.5 million and
the legal fees not to exceed $50,000 will be transferred to Debtor
free and clear of any liens or claims of UMB.

     e. The Sale Assets are to be sold pursuant to an open Auction
if at least one additional Qualified Bids is received by the
Debtor.  The Stalking Horse Bidder is deemed a Qualified Bidder and
the Stalking Horse Agreement is deemed a Qualified Bid.

The salient terms of the Bidding Procedures are:

     a. Bid Deadline: TBD by the Court, 2020 at 4:00 p.m. (PT)

     b. Initial Bid: $100,000 greater than the initial bid of the
Stalking Horse Bidder or such other amount determined by the Debtor
in its discretion

     c. Deposit: 10% of the aggregate bid amount

     d. Auction: If two or more Qualified Bids for the Assets
(including the bid of a Stalking Horse Bidder) are received by the
Bid Deadline, the Debtor will conduct the Auction at 12:00 p.m.
(PT) on TBD by the Court, 2020, at the offices of the Debtor's
proposed counsel, Garman Turner Gordon, 7251 Amigo Street, Suite
210, Las Vegas, Nevada 89119, or by video, or such later time
and/or day or other place as the Debtor will notify all Qualified
Bidders who have submitted Qualified Bids, if a Qualified Bid is
timely received.

     e. Bid Increments: $100,000

     f. Sale Hearing: TBD by the Court

     g. Sale Objection Deadline: TBD by the Court

     h. Closing: TBD by the Court

     i. Reimbursement Payment: $350,000

     j. Break-Up Fee: 2% of the Purchase Price

Subject to the definitive terms of the Stalking Horse Agreement,
the Debtor is asking approval to sell the Sale Assets on an "as is"
basis, free and clear of any liens, claims, interests, and/or
encumbrances.

To facilitate and effectuate the sale of the Sale Assets, the
Debtor asks the authority, but not the direction, to assume and
assign, or, alternatively, reject any of the Contracts as part of a
sale transaction for any of the Sale Assets as required by the
Successful Bidder.  

Under the facts and circumstances of the case, including the need
to close a sale by Nov. 30, 2020, the Debtor asks that any order
approving a Sale and the assumption and assignment of any Assigned
Contracts waives the 14-day stays under Bankruptcy Rules 6004(h)
and 6006(d) and be effective immediately upon entry.

A copy of the Bidding Procedures is available at
https://tinyurl.com/y67jzqgk from PacerMonitor.com free of charge.

                   About Las Vegas Monorail

Las Vegas, Nevada-based Las Vegas Monorail Company, organized by
the State of Nevada in 2000 as a nonprofit corporation, owns and
manages the Las Vegas Monorail.  The Monorail is a seven-stop,
elevated train system that travels along a 3.9-mile route near the
Las Vegas Strip.  LVMC has contracted with Bombardier Transit
Corporation to operate the Monorail.  Though it benefits from its
tax-exempt status due to being a nonprofit entity, LVMC claims to
be the first privately-owned public transportation system in the
nation to be funded solely by fares and advertising.  LVMC says it
receives no governmental financial support or subsidies.

The Company filed for Chapter 11 bankruptcy protection (Bankr. D.
Nev. Case No. 10-10464) on Jan. 13, 2010.  The Company disclosed
$395,959,764 in assets and $769,515,450 in
liabilities as of the Petition Date.

Gerald M. Gordon, Esq., William M. Noall, Esq., and Gabriel A.
Hamm, Esq., at Gordon Silver, assist the Company in its
restructuring effort.  Alvarez & Marsal North America, LLC, is the
Debtor's financial advisor.  Stradling Yocca Carlson & Rauth is the
Debtor's special bond counsel.  Jones Vargas is the Debtor's
special corporate counsel.

In April 2010, bondholder Ambac Assurance Corp. lost in its bid to
halt the bankruptcy after U.S. Bankruptcy Judge Bruce A. Markell
ruled that Monorail isn't a municipality and is therefore entitled
to reorganize in Chapter 11.  U.S. District Judge James Mahan in
Reno upheld the ruling in October 2010.


LATAM AIRLINES: Has Laid Off 12,600 Employees Since March
---------------------------------------------------------
Reuters reported that LATAM Airlines, South America's largest
carrier, in mid-August 2020 said it had laid off 12,600 employees
since March -- or almost 30% of its pre-coronavirus workforce --
due to the pandemic that has upended the global travel industry.
The carrier went from employing almost 43,000 people across Latin
America and the United States to 29,957 the company said.

LATAM reported a net loss of $890 million for the second quarter,
slammed by the pandemic that drove the company into a Chapter 11
bankruptcy filing in May.

"COVID-19 has had a very significant impact, which is reflected in
the company's numbers," LATAM CFO Ramiro Alfonsin told
journalists.

While employees already had their salaries cut by half in late
March when the pandemic led to widespread travel restrictions in
the region, it said its remaining employees are now facing cuts of
20% through September.

LATAM and its rivals are struggling to preserve cash while
operating just a small fraction of their usual flights. The airline
has said it will need to be a smaller carrier for years to come,
and it is unclear whether there will be more job cuts in the
future. Cutting down its workforce has helped preserve some
liquidity.

The carrier posted a 75% drop in revenue between April and June due
to widespread travel restrictions around Latin America.

LATAM's Chapter 11 filing has allowed it to raise more than $1.3
billion in cash from investors, although it still needs the
approval from a bankruptcy judge before it can access the money.

Alfonsin said the airline had operated during the quarter at 6% of
its normal capacity and that demand in Brazil, its largest market,
was showing some signs of recovery.

He added LATAM ended the quarter with a total cash position of $1.4
billion.

                      About LATAM Airlines

LATAM Airlines Group S.A. -- http://www.latam.com/-- is a
pan-Latin American airline holding company involved in the
transportation of passengers and cargo and operates as one unified
business enterprise.   

LATAM Airlines Group S.A. is the largest passenger airline in South
America. Before the onset of the COVID-19 pandemic, LATAM offered
passenger transport services to 145 different destinations in 26
countries, including domestic flights in Argentina, Brazil, Chile,
Colombia, Ecuador and Peru, and international services within Latin
America as well as to Europe, the United States, the Caribbean,
Oceania, Asia and Africa.

LATAM Airlines Group S.A. and its 28 affiliates sought Chapter 11
protection (Bankr. S.D.N.Y. Lead Case No. 20-11254) on May 25,
2020. Affiliates in Chile, Peru,
Colombia, Ecuador and the United States are part of the Chapter 11
filing.

The Debtors disclosed $21,087,806,000 in total assets and
$17,958,629,000 in total liabilities as of Dec. 31, 2019.

The Hon. James L. Garrity, Jr., is the case judge.

The Debtors tapped Cleary Gottlieb Steen & Hamilton LLP as general
bankruptcy counsel; FTI Consulting as restructuring advisor; Togut,
Segal & Segal LLP and Claro & Cia in Chile as special
counsel;PricewaterhouseCoopers Consultores Auditores SpA as
independentauditors; and Larrain Vial Servicios Profesionales
Limitada as Latin America investment banker. Prime Clerk LLC is the
claims agent.


LORD & TAYLOR: Holds Going Out of Business Sales at All 38 Stores
-----------------------------------------------------------------
Le Tote, Inc. and Lord & Taylor LLC will commence Going Out of
Business Sales shortly at the historic brands' 38 iconic stores and
on www.lordandtaylor.com.

On Aug 2, 2020, the Company filed for Chapter 11 reorganization and
announced its pursuit of a going concern buyer. "While we are still
entertaining various opportunities, we believe it is prudent to
simultaneously put the remainder of the stores into liquidation to
maximize value of inventory for the estate while pursuing options
for the Company's brands," Ed Kremer, the Company's chief
restructuring officer stated.  He continued: "I am extraordinarily
proud of the continued efforts of our store and corporate team
members as they have worked tirelessly over the past several
months, under unprecedented conditions, to preserve this historic
brand. We have a long road ahead of us and I am grateful and
humbled by the dedication and resiliency of our team."

The going out of business sale, expected to begin in the balance of
stores on Thursday August 27th, will continue to be led by the
joint venture of Hilco Merchant Resources and Gordon Brothers.
"This Going Out of Business event gives shoppers the opportunity to
take advantage of exceptional savings on notable brands at rarely
seen discounts," a spokesperson for the joint venture stated.
"Customers will continue to experience the superior service and
value they've come to expect from this iconic retailer."

Deep discounts plus departmental promotions will be effective
throughout the sale process in store and online. Discounts apply to
existing inventory, new store arrivals and on new categories not
previously sold at these stores. The historic event will also
feature the sale of in store fixtures, furniture, and equipment.

The Lord + Taylor Store Directory will continually be updated with
store status and current hours of operation,
https://locations.lordandtaylor.com

Court documents and other information about the chapter 11 process
are available at https://cases.stretto.com/letote or calling the
Company's restructuring hotline at 1-855-217-8030.

A joint venture of Hilco Merchant Resources and Gordon Brothers are
managing the Company's store closing sales.

                        About Lord & Taylor

Le Tote, Inc. and its affiliates operate both an online,
subscription-based clothing rental service and a full-service
fashion retailer with 38 brick-and-mortar locations and a robust
e-commerce platform.  

Le Tote purchased Lord & Taylor in a transaction which closed in
November 2019.  In response to the COVID-19 pandemic, Le Tote
temporarily closed all retail locations in March 2020, although
they continue to operate the Le Tote and Lord & Taylor websites.

Lord & Taylor filed for bankruptcy in early August 2020, joining a
string of upscale retailers filing for Chapter 11 in recent months.
It initially announced 19 stores were closing, then increased that
number to 24 a few weeks later.   At the end of August 2020, it
announced that it is closing all stores.

Le Tote and its affiliates filed voluntary petitions for relief
under Chapter 11 of the  Bankruptcy Code (Bankr. E.D. Va. Lead Case
No. 20-33332) on Aug. 2, 2020.  CRO Ed Kremer signed the petitions.
At the time of the filing, the Debtors disclosed between $100
million and $500 million in both assets and liabilities.  

Judge Keith L. Phillips oversees the cases.

The Debtors tapped Kirkland & Ellis LLP and Kirkland & Ellis
International LLP as their legal counsel; Kutak Rock LLP and
Crenshaw, Ware & Martin, PLC as local counsel; Katten Muchin
Rosenman LLP as special counsel; Berkeley Research LLC as financial
advisor; and Nfluence Partners as investment banker.  Stretto is
the notice, claims and balloting agent, and administrative
advisor.

John Fitzgerald, III, acting U.S. trustee for Region 4, appointed a
committee of unsecured creditors on Aug. 12, 2020.  The committee
is represented by Cooley LLP.


MALLINCKRODT INC: May File for Bankruptcy Protection
----------------------------------------------------
Mallinckrodt said in its second quarter earning release that it was
exploring strategic options with external advisers that include
filing for Chapter 11 bankruptcy.

In February, Mallinckrodt said it reached an "agreement in
principle" for a global opioid settlement that would entail the
company making structured payments over a period of eight years
totaling $1.6 billion.

In March, a federal judge said the company was on the hook to pay
back Medicaid $650 million for its Acthar Gel, due to claims that
Mallinckrodt underpaid for the drug for years and overcharged
Medicaid.

"The Company has identified several negative conditions and events
impacting the business as of June 26, 2020. Due to pressures from
the Acthar Gel Medicaid matter, the ongoing opioid litigation and
the Company's existing debts and the related risk of non-compliance
with its financial debt covenant over the next twelve months, the
Company has been working with external advisors to explore a range
of options and engage in dialogue with financial creditors and
litigation claimants and their advisors, including the possibility
of a filing for reorganization in bankruptcy under Chapter 11 by
Mallinckrodt plc and most of its subsidiaries in the near-term.
However, these plans have not yet been finalized nor are they fully
within the Company's control," the Company said in its August
earnings release.

According to RTTNews, Mallinckrodt is in discussion with external
advisors about options available and engaged in talks with
financial creditors as well as litigation claimants. The company is
yet to finalize any plans.

                     About Mallinckdrodt

Mallinckrodt -- http://www.mallinckrodt.com/-- is a global
business consisting of multiple wholly owned subsidiaries that
develop, manufacture, market and distribute specialty
pharmaceutical products and therapies.  The company's Specialty
Brands reportable segment's areas of focus include autoimmune and
rare diseases in specialty areas like neurology, rheumatology,
nephrology, pulmonology and ophthalmology; immunotherapy and
neonatal respiratory critical care therapies; analgesics and
gastrointestinal products.  Its Specialty Generics reportable
segment includes specialty generic drugs and active pharmaceutical
ingredients.

Mallincrodt recorded a net loss of $996.5 million for the fiscal
year 2019 compared to a net loss of $3.61 billion for the fiscal
year 2018.  As of March 27, 2020, the Company had $10.17 billion in
total assets, $8.27 billion in total liabilities, and $1.89 billion
in total shareholders' equity.

                     Litigation Settlement

On Feb. 25, 2020, Mallinckrodt announced that the Company, certain
of its subsidiaries operating the Specialty Generics business and
certain other affiliates have reached an agreement in principle on
the terms of a global settlement that would resolve all
opioid-related claims against the Company.  The Litigation
Settlement is subject to certain contingencies and may not go into
effect in its current form or at all, as a result of which the
Company's business prospects may be adversely impacted. The
Litigation Settlement contemplates the filing of voluntary
petitions under Chapter 11 of the U.S. Bankruptcy Code by the
Specialty Generics Subsidiaries and the establishment of a trust
for the benefit of plaintiffs holding opioid-related claims against
Mallinckrodt.

                         *     *      *

As reported by the TCR on March 23, 2020, S&P Global Ratings
affirmed the 'CCC' long-term issuer credit rating on global
pharmaceutical company Mallinckrodt PLC and removed the rating from
CreditWatch.  Mallinckrodt PLC recently announced an unfavorable
ruling in its litigation with Centers for Medicare and Medicaid
Services (CMS) and Health and Human Services (HHS), potentially
owing $650 million and losing annual revenue of $90 million to $100
million.


MARSHALL BROADCASTING: Plan Exclusivity Extended Thru Sept. 30
--------------------------------------------------------------
Judge David R. Jones of the U.S. Bankruptcy Court for the Southern
District of Texas, Houston Division, has extended Marshall
Broadcasting Group, Inc.'s exclusivity period to file a
bankruptcy-exit plan and solicit acceptances, through and including
September 30, 2020, and November 30, 2020, respectively.

On April 4, 2020, the Court approved the Debtor's sale of
substantially all of its assets to Mission Broadcasting, Inc. The
sale is subject to FCC approval, and the Debtor originally
anticipated that the sale would close by the end of June. However,
three petitions to deny approval of the sale were timely filed with
the FCC on or around May 18, 2020. Mission filed oppositions to
these petitions on or around June 16, 2020. No replies were filed.
Upon information and belief, the FCC is in the process of reviewing
the petitions and oppositions. To date, the sale has still not
closed.

The Debtor believes these petitions will delay the FCC approval
process through the end of August. With the granted extension, the
Debtor will have additional time post-closing to formulate and
finalize its exit from chapter 11.

The Court previously extended the Debtor's exclusive filing period
and exclusive solicitation period through and including July 31,
2020, and September 30, 2020, respectively.

                       About Marshall Broadcasting Group

Marshall Broadcasting Group, Inc. -- https://mbgroup.tv/ -- is a
minority-owned television broadcasting company that owns three
full-power television stations in the United States.

Marshall Broadcasting Group filed a voluntary Chapter 11 petition
(Bankr. S.D. Tex. Case No. 19-367437) on Dec. 3, 2019.  The
petition was signed by Pluria Marwill Jr., chief executive officer.
At the time of the filing, the Debtor disclosed assets of between
$50 million and $100 million and liabilities of the same range.
Judge David R. Jones oversees the case.

Levene, Neale, Bender, Yoo & Brill L.L.P. is the Debtor's
bankruptcy counsel.



METAL PARTNERS: Seeks to Hire AbitOs PLLC as Tax Accountant
-----------------------------------------------------------
Metal Partners Rebar, LLC and affiliates seek approval from the
U.S. Bankruptcy Court for the District of Nevada to hire AbitOs,
PLLC as their tax accountant.

The firm will assist in the preparation of Debtors' 1065 U.S.
Partnership Return for 2019, including all related documents
requested by Debtors.

AbitOs will be paid at hourly rates as follows: $500 for directors,
$350 for managers, and $175 for staff accountants.

AbitOs is a "disinterested person" pursuant to Sections 327(a) and
101(14) of the Bankruptcy Code and does not have an interest
materially adverse to the interests of Debtors' estates, according
to court filings.

The firm can be reached through:

     Raimundo Lopez-Lima Levi, CPA
     AbitOs, PLLC
     255 Aragon Ave 2nd Floor
     Coral Gables, FL 33134
     Telephone: (305) 774-2945
     
                    About Metal Partners Rebar

Metal Partners Rebar, LLC and four affiliates concurrently filed
voluntary petitions for relief under Chapter 11 of the Bankruptcy
Code (Bankr. D. Nev. Lead Case No. 20-12878) on June 16, 2020. The
petitions were signed by Joseph Tedesco, chief financial officer.

At the time of the filing, Metal Partners Rebar disclosed estimated
assets of $10 million to $50 million and estimated liabilities of
$50 million to $100 million; BGD LV Holding, LLC disclosed
estimated assets and liabilities of up to $50,000; BRG Holding, LLC
disclosed estimated assets of $1 million to $10 million and
estimated liabilities of $10 million to $50 million; and BCG Ownco,
LLC disclosed estimated assets of $1 million to $10 million and
estimated liabilities of $10 million to $50 million.

Judge Mike K. Nakagawa oversees the cases.

Debtors have tapped Saul Ewing Arnstein & Lehr LLP as their
bankruptcy counsel, Larson & Zirzow, LLC as co-counsel with Saul
Ewing, High Ridge Partners, LLC as financial advisor, and SSG
Advisors, LLC as investment banker.

The Office of the U.S. Trustee formed an unsecured creditors'
committee on July 14, 2020.  The committee has tapped Brown
Rudnick, LLP as its bankruptcy counsel, McDonald Carano LLP as
local counsel and Goldin Associates, LLC as financial advisor.


MIA & ASSOCIATES: Seeks to Hire Norris and Associates as Accountant
-------------------------------------------------------------------
MIA & Associates Realty Group, LLC seeks approval from the U.S.
Bankruptcy Court for the Southern District of Texas to employ
Norris and Associates as its accountant.

Norris and Associates will assist in the preparation of financial
statements, tax returns and monthly operating reports for Debtor.

The firm's services will be provided mainly by Robert Norris, a
certified public accountant who will be paid at the rate of $150
per hour.  Staff accountants will charge $75 per hour.             
      

Mr. Norris disclosed in court filings that he and his firm are
"disinterested persons" within the meaning of Section 101(14) of
the Bankruptcy Code.

Mr. Norris holds office at:

     Robert L. Norris, CPA
     Norris and Associates
     1614 Holland Avenue
     Houston, TX 77029
     Telephone: (713) 453-3310

                About MIA & Associates Realty Group

MIA & Associates Realty Group, LLC is the fee simple owner of four
real properties in Texas, with total current value of $1.4
million.

On May 20, 2020, MIA & Associates Realty Group filed a Chapter 11
petition (Bankr. S.D. Tex. Case No. 20-32708).  At the time of the
filing, Debtor was estimated to have $1,406,088 in total assets and
$880,823 in total liabilities.

Judge Jeffrey P. Norman oversees the case.

Debtor has tapped Fuqua & Associates, P.C. as its legal counsel,
the Law Office of R.J. Parham as special counsel, and Norris and
Associates as accountant.


MICHAEL P. CRYAN: Wife Selling Amherst Property to Reeds for $198K
------------------------------------------------------------------
Suzanne B. Cryan asks the U.S. Bankruptcy Court for the Western
District of New York to authorize the private sale of the real
property located at 223 Darwin Drive, Amherst, New York to
Elizabeth Reed and John Reed for $197,500.

223 Darwin is a single family dwelling, which, at the time of the
filing of the bankruptcy proceedings, was owned by the Debtor and
used by her and her husband, Michael P. Cryan, one of the Debtors
in the case, as their homestead.  Subsequent to the Petition Date,
the Debtors vacated 223 Darwin, employed Re/Max North as its broker
(which employment was approved by the Court by Order entered on
April 27, 2020) and listed 223 Darwin for sale.

As of the date of the Sale Motion, 223 Darwin is under contract for
the Purchase Price of $197,500 (including credit for an agreed upon
the Seller’s concession), to the Purchasers, by private sale, "as
is," free and clear of any liens, claims, encumbrances, and
interests, pursuant to the Buffalo Niagara Association of Realtors,
Inc., Bar Association of Erie County Standard Form of Real Estate
Contract.

223 Darwin was actively marketed for sale by the Real Estate Broker
subsequent to the approval of its employment.  At the time 223
Darwin was marketed, it was in need of some very significant and
substantial repairs.  The Purchase Price is the highest and best
offer received for the sale of 223 Darwin, and as such, the Debtor
submits that the Purchase Price represents the fair market value of
223 Darwin and should be approved.   

The Debtor further submits that the only creditors stated in the
Debtors' Schedule D: Creditors Who Have Claims Secured by Property
or who otherwise hold claims representing valid liens or interests
in 128 Oak are as follows:  

     a. Wilmington Savings Fund Society, as Trustee for NYMT Loan
Trust (holder of 1st Mortgage), having an approximate balance of
$144,000.

     b. Buffalo Metropolitan, F.C.U. (holder of 2nd Mortgage)
having an approximate balance of $34,000.

     c. Internal Revenue Service (holder of filed tax lien) in the
principal amount of $84,661 (and holder of a tax lien filed after
the New York State Department of Taxation and Finance in the
principal amount of $316,608).

     d. New York State Department of Taxation and Finance (holder
of filed tax lien) in the principal amount of 81,323.

The employment of the Real Estate Broker was approved by
applications which included a standard listing agreement providing
for a 7% commission on the Purchase Price.  Accordingly, the Real
Estate Broker commissions equal $14,070.  The Debtor submits that
the Real Estate Broker has provided valuable services and has
earned the entire Broker Commission and that the Broker Commission
should be approved to be paid out of the Purchase Price.

Additionally, there are costs and expenses that will be incurred in
connection with the closing of the sale of 223 Darwin, including
expenses for search and survey, misc. recording fees, transfer tax
(to the extent not exempt) and real estate attorneys’ fees.
Assuming an exemption to transfer tax as a result of the sale
occurring under Title 11 of the Code, those costs are estimated to
total $2,500.

With the net proceeds from the sale of 223 Darwin, after payment of
the Broker's Commission and Closing Cost, the Debtor intends to pay
the NYMT Mortgage in full, then to the BMFCU Mortgage, Federal Tax
Lien and State Tax Lien in said order and to the extent that net
proceeds are available to satisfy those claims.  

It is estimated that there will be sufficient proceeds to pay the
BMFCU Mortgage in full; however, any remaining balance of the net
proceeds will be relatively minimal and will not satisfy either the
Federal Tax Lien or the State Tax Lien.

The Debtor submits that 223 Darwin should be liquidated to maximize
any benefit to the bankruptcy estate.  As a result of the
foregoing, she asks that the Court waives the 14-day stay period
provided by Rule 6004(h).

A hearing on the Motion is set for Sept. 28, 2020 at 10:00 a.m.  

A copy of the Contract is available at https://tinyurl.com/y3wr3dgz
from PacerMonitor.com free of charge.

Michael P. Cryan and Suzanne B. Cryan sought Chapter 11 protection
(Bankr. W.D.N.Y. Case No. 19-12292) on Nov. 1, 2019.  The Debtors
tapped Arthur G Baumeister, Jr., Esq., at Baumeister Denz LLP, as
counsel.


MOOD MEDIA: Emerges From Chapter 11 Bankruptcy
----------------------------------------------
Mood Media, the world's leading on-premise and connected media
solutions company dedicated to elevating the Customer Experience,
in August 2020 announced that it has successfully emerged from
Chapter 11 following an extremely expedited court-supervised
process with a stronger balance sheet and the financial flexibility
to drive its long-term success.

Mood Media is moving forward as a global media solutions provider
that offers the next generation of engaging Customer Experiences.
Leveraging its proprietary "Harmony" technology platform to offer
end-to-end content-first media solutions, the Company will power
clients' in-store and on-premise brands. The Company is realigning
its teams, building new solutions, and changing the way it engages
with clients in order to better meet their needs and deliver the
highest level of client success.

"Having completed our financial restructuring incredibly quickly,
we now have the financial flexibility to focus more of our
resources on reimagining our business so we can best serve our
clients," said David Hoodis, Chief Executive Officer of Mood Media.
"Building on our 86-plus years of embracing change, we are putting
in place enhanced processes, structures, and tools that can make a
real and lasting impact as we move forward as a more client-centric
organization. We are excited about our future and look forward to
sharing more in the coming weeks about how we will engage with our
clients in new ways, help them grow their business and elevate the
Customer Experience."

Mr. Hoodis continued, "We appreciate the support of our clients and
our business partners throughout our financial restructuring
process. We look forward to continuing to work closely with them as
their businesses reopen and as their customers and employees return
to their stores. I want to thank our financial stakeholders, whose
confidence in our business enabled us to complete our restructuring
on a fully consensual and extremely expedited basis. Finally, and
most importantly, I want to thank the Mood Team for their
creativity and strident commitment to serving our clients."

Kirkland & Ellis LLP acted as legal advisor to Mood Media, PJ
SOLOMON acted as its investment banker, and Berkeley Research
Group, LLC acted as its financial advisor. Working with the
leadership team, these advisors ensured that Mood Media obtained
Court approval of its prepackaged plan of reorganization in less
than 24 hours and emerged from Chapter 11 shortly thereafter, which
has been instrumental in preserving the Company's relationships
with key stakeholders and will further help position the Company
for future success.

                       About Mood Media

Mood Media Corporation (TSX:MM) -- http://www.moodmedia.com/-- is  
provider of in-store audio, visual, and other forms of media and
marketing services in North America and internationally. Mood Media
Corp was created after the acquisition of Mood Media by Fluid Music
Canada, Inc. in 2010. The Company has more than 500,000 active
client locations around the globe. Its clients include specialist
retailers, department stores, supermarkets, financial institutions
and fitness clubs, as well as hotels, car dealerships and
restaurants.

The Company's segments include In-Store Media North America,
In-Store Media International, BIS and Other. Its In-store
media-North America's operations are based in the United States,
Canada and Latin America. Its In-store media-International's
operations are based in Europe, Asia and Australia. BIS is the
Company's audio-visual design and integration subsidiary that
focuses on corporate and commercial applications. Technomedia
provides audio-visual technology and design for large-scale
commercial applications as well as advertising content creation and
production solutions.

Mood Media Corporation on May 18, 2017, commenced reorganization
proceedings before the Ontario Superior Court of Justice in
Ontario, Canada, to effect a plan of arrangement.

On May 22, 2017, Mood Media Corp. and 14 subsidiaries commenced
Chapter 15 bankruptcy cases (Bankr. S.D.N.Y. Lead Case No.
17-11413) to seek U.S. recognition of the restructuring proceedings
in Canada.

The Hon. Michael E. Wiles presides over the Chapter 15 cases.

Michael F. Zendan II, the Executive VP and General Counsel of Mood
Media, was named foreign representative, authorized to sign the
Chapter 15 petitions.

Kirkland & Ellis LLP is serving as U.S. counsel to Foreign
Representative, with the engagement led by Joshua Sussberg, Esq.,
and  Edward O. Sassower, P.C., in New York, and James H.M.
Sprayregen, P.C., Adam C. Paul, Esq., Bradley Thomas Giordano,
Esq.,  Whitney C. Fogelberg, Esq., in Chicago.

Stikeman Elliott LLP, is serving as Mood Media's Canadian counsel,
with the engagement led by Alex Rose, Esq., Kathryn Esaw, Esq., and
Patrick Corney, Esq.


MOTORS LIQUIDATION: Irwin Not Required to Pay Interest to Clement
-----------------------------------------------------------------
The case captioned LARRY CLEMENT and CLEMENT AUTO & TRUCK, INC.,
Plaintiffs-Appellants, v. GRANT IRWIN, individually, and IRWIN AUTO
CO. OF FORT DODGE, LLC, Defendants-Appellees, No. 19-1192 (Iowa
App.) is a contract dispute. Larry Clement and Clement Auto &
Truck, Inc. claim a contract required Grant Irwin and Irwin Auto
Co. of Fort Dodge, LLC to pay interest on an unpaid balance.  The
Iowa Court of Appeals disagreed and affirmed the district court's
ruling.

In 2003, Clement sold a General Motors (GM) dealership to Irwin via
an asset purchase agreement. In 2007, Clement and Irwin signed a
second agreement to facilitate Irwin's sale of the dealership to a
third party and to ensure Irwin's payment of the balance due to
Clement under the 2003 agreement.

Among other things, the 2007 agreement required Irwin to acquire
registered securities and hold them in a "Bond Company," which is
sometimes referred to as a "Bond Trading Company."

The 2007 agreement also required Irwin to pay Clement "$1,000,000
on or before September 15, 2015," unless GM "file[d] bankruptcy,"
in which case Irwin would "have an additional 5 years to pay" the
sum. In 2009, GM filed a bankruptcy petition. This triggered the
five-year extension.1

In 2016, Clement sued Irwin for breach of the agreements. Clement
alleged in part that Irwin "fail[ed] to perform . . . the term of
payment of interest." The parties agree that Clement's interest
claim turns on the following paragraph in the 2007 agreement:

        "Remaining Amounts Due by Irwin. [(1)] Irwin shall pay
Clement $1,000,000.00 on or before September 15, 2015. [(2)] If GM
or Ford should file bankruptcy, Irwin shall have an additional 5
years to pay the $1,000,000.00. [(3)] Irwin shall pay interest as
originally agreed in the Asset Purchase Agreement dated March 27,
2003 for every day after September 15, 2015. [(4)] The interest
rate shall be the prime rate of interest as quoted by the Wall
Street Journal. [(5)] In the event that the total value of all the
bonds are not in bankruptcy the same shall be liquidated and Irwin
shall pay Clement the total dollar amount to the extent possible as
much of the $1,000,000.00 obligation as is available. [(6)] For
example, if on September 15, 2015 Ford is in bankruptcy but GM and
the other bonds held by the Bond Trading Company are not in
bankruptcy and have a value of $900,000.00, Irwin shall pay Clement
immediately $900,000.00. [(7)] Irwin shall have within the five (5)
year period to pay the remaining $100,000.00 after Ford comes out
of bankruptcy. [(8)] If Ford is liquidated Irwin must pay the
remaining $100,000.00 plus interest before the end of five (5)
years. [(9)] In the event that a bankruptcy of Ford or GM results
in their liquidation rather than restructuring, Irwin shall
personally pay Clement $1,000,000.00 on or before September 15,
2020. [(10)] In the event that Irwin should die, the $1,000,000.00
or the present value thereof is immediately due and payable to
Clement."

The district court focused mainly on the ninth sentence which
addressed the potential that GM would
file a bankruptcy petition resulting in liquidation rather than
restructuring. Following a bench trial, the district court
concluded the agreements did not support Clement's claim for
interest. The court determined GM's "bankruptcy resulted in
liquidation" and, therefore, "no provision in the agreement"
required payment of interest.

On appeal, Clement argued that substantial evidence does not
support the district court's conclusion that GM's bankruptcy
resulted in its liquidation. Clement also argued that substantial
evidence does not support the district court's conclusion that
interest is not owed.

According to the Appeals Court, before Clement can demonstrate that
the district court erred by finding "liquidation" occurred, Clement
must first establish what "liquidation" means for purposes of the
2007 contract. In other words, Clement must begin with contractual
interpretation. As Irwin correctly noted, "[t]he term 'liquidation'
is a term used in the contract for purposes triggering certain
obligations. It is virtually meaningless for [Clement] to claim a
lack of substantial evidence to find a 'liquidation' without
discussing the legal principles governing the interpretation of the
word 'liquidation.'"

The Appeals Court said Clement has not done so. Clement did not
provide a definition for the term "liquidation" as it appears in
the 2007 contract. Nor did Clement provide authorities or analysis
to help the Appeals Court determine what "liquidation" means in
that context. Nor did Clement address Irwin's argument that,
because Clement's counsel drafted the 2007 contract, any ambiguity
as to the contract's meaning should be strictly construed against
Clement.

Instead, Clement focused on the opinions of bankruptcy expert Eric
Lam. He opined "the General Motors bankruptcy case was clearly a
restructure proceeding, and was not a liquidation." But Lam
confirmed that he did "not intend to offer any opinions concerning
the meaning of the July [] 2007[] agreement." And Clement admitted
Lam did not testify "as to the meaning of the" parties' contract.

Because Clement had not shown what "liquidation" means for purposes
of the 2007 contract, Clement had not shown the district court
erred by concluding "liquidation" occurred.

Like the "liquidation" issue, the second issue turned on paragraph
four in the 2007 agreement. At first blush, the third sentence of
paragraph four would appear to require the payment of interest. It
states "Irwin shall pay interest as originally agreed in the Asset
Purchase Agreement." As Irwin pointed out, though, the 2003 asset
purchase agreement does not provide for interest payments on the
$1,000,000 obligation.

Still Clement argued that, assuming the district court was correct
in finding "liquidation" occurred, interest is authorized by the
eighth sentence. It states: "If Ford is liquidated Irwin must pay
the remaining $100,000 plus interest before the end of five years."
Although the eighth sentence refers to Ford and not GM, Clement
says Ford is just used as an example of what would happen if either
company filed for bankruptcy and was liquidated. According to the
Appeals Court, the ninth sentence explicitly addressed the
consequence of a bankruptcy filing by GM resulting in liquidation.
Because it is more specific than the eighth sentence, the ninth
sentence controls. And the ninth sentence says nothing about
interest. So the district court did not err in concluding there is
no provision for interest.

Because Clement has not demonstrated error by the district court,
the Appeals Court affirmed.

In his dissenting opinion, Judge Anuradha Vaitheswaran held that
based on the bankruptcy law expert's testimony, he would conclude
that GM's bankruptcy, referenced in the ninth sentence of paragraph
four, resulted in a restructuring rather than a liquidation. he
would reverse and remand for entry of an order requiring Irwin to
pay interest "for every day after Sept. 15, 2015," at the "prime
rate of interest as quoted by the Wall Street Journal."

A copy of the Court's Ruling dated August 5, 2020 is available at
https://bit.ly/3jdxdF6 from Leagle.com.

Justin L. Sullivan of Whitfield & Eddy, P.L.C., Des Moines, for
appellants.

Eric M. Updegraff of Hopkins & Huebner, P.C., Des Moines, for
appellees.

                         About General Motors

With its global headquarters in Detroit, Michigan, General Motors
-- http://www.gm.com/-- is one of the world's largest automakers,
traces its roots back to 1908.

General Motors Co. was formed to acquire the operations of General
Motors Corp. through a sale under 11 U.S.C. Sec. 363 following Old
GM's bankruptcy filing.  The U.S. government provided financing.
The deal was closed July 10, 2009, and Old GM changed its name to
Motors Liquidation Co.

Old GM -- General Motors Corporation -- filed for Chapter 11
protection (Bankr. S.D.N.Y. Lead Case No. 09-50026) on June 1,
2009.  The Honorable Robert E. Gerber presides over the Chapter 11
cases.  The Debtors tapped Weil, Gotshal & Manges LLP, Jenner &
Block LLP, and Honigman Miller Schwartz and Cohn LLP as counsel;
and Morgan Stanley, Evercore Partners and the Blackstone Group LLP
as financial advisor.  Garden City Group served as claims and
notice agent of the Debtors.

The U.S. Trustee appointed an Official Committee of Unsecured
Creditors and a separate Official Committee of Unsecured Creditors
Holding Asbestos-Related Claims.  Lawyers at Kramer Levin Naftalis
& Frankel LLP served as bankruptcy counsel to the Creditors
Committee.  Attorneys at Butzel Long served as counsel on supplier
contract matters.  FTI Consulting Inc. served as financial
advisors
to the Creditors Committee.  Elihu Inselbuch, Esq., at Caplin &
Drysdale, Chartered, represented the Asbestos Committee.  Legal
Analysis Systems, Inc., served as asbestos valuation analyst.

The Bankruptcy Court entered an order confirming the Debtors'
Second Amended Joint Chapter 11 Plan on March 29, 2011.  The Plan
was declared effect on March 31, 2011.

On Dec. 15, 2011, Motors Liquidation was dissolved.  On the
Dissolution Date, pursuant to the Plan and the Motors Liquidation
Company GUC Trust Agreement, dated March 30, 2011, between the
parties thereto, the trust administrator and trustee -- GUC Trust
Administrator -- of the Motors Liquidation Company GUC Trust,
assumed responsibility for the affairs of and certain claims
against MLC and its debtor subsidiaries that were not concluded
prior to the Dissolution Date.


MUJI USA: Closes All Seven Stores in California
-----------------------------------------------
David Moin, writing for WWD, reports that Muji U.S.A., one of the
many retail victims of COVID-19, will permanently close all seven
of its stores in California as part of the company's Chapter 11
restructuring.

The locations are in Los Angeles on the Third Street Promenade,
Hollywood, Santa Anita, Stanford, San Jose, Santa Monica and San
Francisco.

The Chapter 11 filing in Delaware by Muji U.S.A on July 20 does not
impact the Japanese retailer’s operations in Canada, Japan, and
elsewhere around the globe, the company said.

Muji plans to use the court-supervised Chapter 11 process "to
navigate the impacts of COVID-19 on brick-and-mortar retail and to
reposition the brand's e-commerce business as customer behavior has
shifted to online shopping as a result of the pandemic."

Satoshi Okazaki, chief executive officer of Muji U.S.A. commented,
"At Muji we are so thankful for our customers and the community who
have supported our stores throughout the years. We are especially
grateful to our California community. As we work through the
restructuring process, we hope to someday bring brick-and-mortar
Muji stores back to California, and look forward to serving our
California customers online in the meantime."

Muji is known for its clean Asian aesthetic, multifarious
merchandising and moderate prices. The stores average around 8,000
square feet and sell everything from plants, stationery, refillable
gel pens, mattresses and sheets, to skin care, cleaning systems,
marshmallows, containers, cookies and curry, as well as men's,
women's and kids wear, and sandals.

When the company filed for Chapter 11 restructuring, it said it
would close "a small number of its brick-and-mortar stores" as it
focuses more on its online offerings.

Prior to the coronavirus outbreak, Muji had ambitious expansion
plans for the U.S., considering opening 100 locations in five
years, as well as a hotel on the West Coast. The California
closings leave about 12 Muji stores continuing to operate.

COVID-19 aside, Japanese retailers have a poor track record in
America. Takashimaya, Mitsukoshi, Itokin and Isetan all came and
went, and business at Uniqlo, Muji’s biggest competitor globally,
has been tough in the U.S., outside of major urban areas.

However, Muji stores did seem to be gaining acceptance, with good
traffic seen at its Fifth Avenue and Hudson Yards stores in
Manhattan prior to the pandemic, possibly due to its relatively
small reliance on the fickle fashion category and its inexpensive,
home and gift-oriented assortment.

                         About Muji USA

Muji U.S.A. Limited is a retailer of a wide variety of products,
including household goods, apparel and food. It was originally
founded in Japan in 1980. Visit https://www.muji.com for more
information.

Muji U.S.A. sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. Del. Case No. 20-11805) on July 10, 2020. At the
time of the filing, Debtor disclosed assets of between $50 million
and $100 million and liabilities of the same range. Judge Mary F.
Walrath oversees the case.  

The Debtor has tapped Greenberg Traurig LLP as its legal counsel,
Mackinac Partners LLC as financial advisor, B. Riley Real Estate
LLC as real property lease consultant, and Donlin, Recano & Company
Inc. as claims and noticing agent.


NEVADA STATE COLLEGE: S&P Cuts 2019 Revenue Bond Ratings to 'BB-'
-----------------------------------------------------------------
S&P Global Ratings lowered its long-term bond ratings to 'BB-' from
'BB' on Public Finance Authority (PFA), Wis.' series 2019
student-housing revenue bonds, the proceeds of which were used to
finance the construction of student housing on the campus of Nevada
State College (NSC), a member of the Nevada System of Higher
Education (NSHE). At the same time, S&P placed the bonds on
CreditWatch with negative implications.

"The downgrade reflects our view that the project's opening
occupancy will be significantly lower than anticipated (currently
12% pre-leased compared with projected 75% occupancy), which will
have a considerable impact on budgeted rental revenues," said S&P
Global Ratings credit analyst Amber Schafer.

In addition, construction of the project has been delayed, with the
project now expected to be complete in October 2020, instead of
August 2020, which was projected during S&P's last review.

"The CreditWatch placement reflects our view that occupancy will be
very weak in fall 2020, leading to significantly
lower-than-projected rental revenues for fiscal year 2021," Ms.
Schafer added.

At this time, the full budget and financial implications are
unknown, but S&P expects to have additional clarity during the next
90 days. While capitalized interest is available to cover the Nov.
1 debt service payment of $825,750 in full, pre-leasing is
currently very weak at about 12%, with student interest in the
project waning as a result of COVID-19 and the college's
announcement that learning this fall will primarily be online,
which has resulted in several leases being cancelled over the past
month. During the next 90 days, S&P could lower the rating further,
by multiple notches, as a result of these challenges or the rating
agency could maintain the 'BB-' rating if occupancy levels improve
to provide adequate operating revenues to meet debt service
coverage. The project maintains a debt service reserve funded at
maximum annual debt service or approximately $2.1 million. S&P will
continue to monitor the impact of this action and anticipate
updating the rating and outlook for this project within the next 90
days when realized occupancy and budget implications become more
apparent.

"The downgrade and CreditWatch placement reflect our opinion of the
operating and financial risk that faces NSC housing due to COVID-19
through construction delays and very weak preleasing activity,"
added Ms. Schafer.

NSC's management team plans to primarily deliver instruction
through remote learning in fall 2020 to protect the health and
safety of students and limit the social risk associated with the
community spread of COVID-19, which has led to significantly
weaker-than-projected preleasing activity.

S&P views the risks from COVID-19 to public health and safety as a
social risk under its environmental, social, and governance
factors. Despite the elevated social risk, S&P believes the
project's environmental and governance risk are in line with its
view of the sectors as a whole.


NEW HOPE: Moody's Gives Ba2 Ratings on Series 2020A & 2020B Bonds
-----------------------------------------------------------------
Moody's Investors Service has assigned Ba2 ratings to the proposed
$35,475,000 New Hope Cultural Education Facilities Finance
Corporation's (TX) Student Housing Revenue Bonds (NCCD - Brenham
Properties LLC - Blinn College Project), Series 2020A and
$1,245,000 Taxable Student Housing Revenue Bonds (NCCD - Brenham
Properties LLC - Blinn College Project), Series 2020B. The outlook
is stable.

RATINGS RATIONALE

The Ba2 ratings are based on adequate debt service coverage
forecast from limited demand for on-campus housing at the Brenham
campus of Blinn College (A1 stable). The ratings reflect the
speculative dependence on enrollment growth which is closely
aligned with available housing at this 2-year community college.
Though the addition of the proposed 508-bed project replaces aging
facilities resulting in a net increase of 251 beds (or 14%),
exceeds the unmet demand estimates based on fall 2020 enrollment.
Together with a 2-year construction period, this factor adds to
initial lease-up risk in fall 2022.

Fitch regards the coronavirus outbreak as a social risk under its
ESG framework, given the substantial implications for public health
and safety. The action reflects the impact of the crisis on the
proposed student housing project and subsequently the bonds.

RATING OUTLOOK

The stable outlook is based on partially mitigated construction
risk through an experienced developer and two months additional
capitalized interest to October 2022 plus operating reserves to
support operations and debt service six months after expected
opening in fall 2022.

FACTORS THAT COULD LEAD TO AN UPGRADE OF THE RATINGS

  - Strong and sustained financial performance along with high
occupancy

  - Additional contractual support from Blinn College

FACTORS THAT COULD LEAD TO A DOWNGRADE OF THE RATINGS

  - Prolonged construction delays that impair delivery of the
project in time for the fall 2022 semester

  - Initial lease-up exhibiting low occupancy or rent levels that
result weak financial performance

LEGAL SECURITY

The bonds are special limited obligations payable solely from the
revenues of the project and other funds held with Trustee. The
obligations are secured by payments made under the Loan Agreement,
a leasehold mortgage, and amounts held by the Trustee under the
Indenture. The project is a stand-alone housing project with
non-recourse to Blinn College, the State of Texas, National Campus
and Community Development Corporation, or the Issuer.

USE OF PROCEEDS

The Series 2020A and Series 2020B bonds will be used to construct
and finance a 508-bed student housing project on the Brenham campus
of Blinn College, fund capitalized interest and debt service
reserve accounts and pay costs of issuance.

PROFILE

The Obligor and Owner, NCCD - Brenham Properties LLC, is a single
member limited liability company organized and existing under the
laws of the State of Texas for the purpose of developing and
financing certain facilities for the benefit of Blinn College. The
sole member of the Obligor is National Campus Community Development
Corporation, a 501(c)(3) Texas non-profit corporation.

METHODOLOGY

The principal methodology used in these ratings was Global Housing
Projects published in June 2017.


NFP CORP: Moody's Affirms B3 Corp. Family Rating, Outlook Stable
----------------------------------------------------------------
Moody's Investors Service has affirmed the B3 corporate family
rating and B3-PD probability of default rating of NFP Corp. (NFP)
following the company's announcement that it plans to issue an
incremental $225 million senior unsecured notes. The rating agency
also upgraded NFP's senior secured credit ratings to B1 from B2
based on the change in funding mix, and affirmed its senior
unsecured note rating at Caa2. NFP expects to use proceeds from the
incremental notes for general corporate purposes, including funding
future acquisitions and paying related fees and expenses. The
rating outlook for NFP is stable.

RATINGS RATIONALE

NFP's ratings reflect its expertise and solid market position in
insurance brokerage, particularly providing employee benefits and
property & casualty (P&C) products and services to mid-sized firms.
The company also offers insurance and wealth management services to
high net worth individuals. The business is well diversified across
products, clients and regions primarily in the US. The company has
been expanding its P&C operations, primarily through acquisitions,
and the P&C business represented about 30% of consolidated revenues
for 2019.

Offsetting these strengths are NFP's persistently high financial
leverage and limited interest coverage, leaving the company little
room for error in managing its existing and acquired operations.
NFP also has contingent earnout liabilities that consume a
significant portion of its free cash flow.

NFP's performance is holding up relatively well through the
coronavirus-related economic downturn with revenues amounting to
$758 million for the first six months of 2020, compared to $701
million in the prior-year period. While the downturn prompted flat
organic growth in the second quarter, NFP generated overall modest
organic growth for the first half of the year. Moody's expects that
NFP will limit discretionary spending in the months ahead to
maintain its credit profile.

Giving effect to the proposed financing, NFP will have pro forma
debt-to-EBITDA around 7.5x, (EBITDA - capex) interest coverage in
the range of 1.3x-1.6x, and free-cash-flow-to-debt in the low
single digits, according to Moody's estimates. The rating agency
expects NFP to maintain financial leverage at or below 7.5x. These
pro forma metrics reflect Moody's adjustments for operating leases,
contingent earnout obligations, certain non-recurring items and
run-rate EBITDA from acquisitions.

While the proposed borrowing causes a credit negative increase in
NFP's gross financial leverage, it increases the proportion of
unsecured debt relative to secured debt. This shift in funding mix
provides greater protection to secured creditors, prompting the
one-notch upgrade of the secured credit ratings.

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

Factors that could lead to an upgrade of NFP's ratings include: (i)
debt-to-EBITDA ratio below 6x, (ii) (EBITDA- capex) coverage of
interest exceeding 2x, (iii) free-cash-flow-to-debt ratio exceeding
5%, and (iv) successful integration of acquisitions.

Factors that could lead to a rating downgrade include: (i)
debt-to-EBITDA ratio above 7.5x, (ii) (EBITDA - capex) coverage of
interest below 1.2x, (iii) free-cash-flow-to-debt ratio below 2%,
or (iv) a significant loss of revenue and decline in EBITDA
resulting from the economic downturn.

Moody's has affirmed the following ratings (and loss given default
(LGD) assessment):

  Corporate family rating at B3;

  Probability of default rating at B3-PD;

  $1.5 billion (including the pending $225 million add-on) senior
unsecured notes maturing in August 2028 at Caa2 (LGD5).

Moody's has upgraded the following ratings:

  $400 million backed senior secured revolving credit facility
maturing in February 2025 to B1 (LGD2) from B2 (LGD3);

  $1.85 billion backed senior secured term loan maturing in
February 2027 to B1 (LGD2) from B2 (LGD3);

  $300 million backed senior secured notes maturing in May 2025 to
B1 (LGD2) from B2 (LGD3).

The rating outlook for NFP is stable.

The principal methodology used in these ratings was Insurance
Brokers and Service Companies published in June 2018.

Based in New York City, NFP provides a range of insurance
brokerage, consulting and advisory services, including corporate
benefits, retirement, property & casualty and individual solutions,
largely in the US. The company generated revenue of $1.5 billion
for the 12 months through June 2020.


NSHE CA BULLS: Gets Approval to Hire 3C Advisors as Consultant
--------------------------------------------------------------
NSHE CA Bulls, LLC received approval from the U.S. Bankruptcy Court
for the Southern District of California to hire 3C Advisors, LLC as
its consultant and expert witness.

The services that will be provided by 3C Advisors are as follows:

     -- provide consultation concerning an appropriate rate of
interest to be applied to Strategic Emerging Economics, Inc.'s
secured claim, contesting the appraised value of Debtor's real
property;

     -- prepare a report regarding the firm's analysis; and

     -- provide expert witness testimony.

The firm's services will be provided mainly by Stephen Jones and
Tim Croushore who will be paid at the rate of $425 per hour.

The firm will receive a sum of $5,000 as a post-petition retainer.

Stephen Jones, a managing member at 3C Advisors, disclosed in court
filings that the firm is a "disinterested person" within the
meaning of Bankruptcy Code Section 327(a).

3C Advisors can be reached through:

     Stephen C. Jones
     3C Advisors, LLC
     1125 S. Cleveland Street, Suite 114
     Oceanside, CA 92054

                      About NSHE CA Bulls LLC

NSHE CA Bulls, LLC is a single asset real estate debtor (as defined
in 11 U.S.C. Section 101(51B)).  

NSHE CA Bulls sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. S.D. Cal. Case No. 19-07519) on Dec. 17, 2019.  At the
time of the filing, Debtor had estimated assets of between $10
million and $50 million and liabilities of between $1 million and
$10 million.  

Judge Laura S. Taylor oversees the case.

Debtor has tapped The Law Offices of Kit J. Gardner as its legal
counsel, and 3C Advisors, LLC and Anderson Appraisal Services, Inc.
as its consultants.

On March 16, 2020, Debtor filed its Chapter 11 plan, which proposes
to pay unsecured creditors in full.


NSHE CA BULLS: Taps Anderson Appraisal as Consultant
----------------------------------------------------
NSHE CA Bulls, LLC received approval from the U.S. Bankruptcy Court
for the Southern District of California to hire Anderson Appraisal
Services, Inc. as its consultant and expert witness.

The firm will provide expert advice and consultation concerning the
value of certain real property owned by Debtor, prepare a report
regarding its analysis, and provide expert witness testimony.

Anderson Appraisal will receive a flat fee of $1,200 for appraisal
report prepared by one of the firm's appraisers, Kevin Allin. The
firm charges $350 per hour for Mr. Allin's testimony, and $200 per
hour for his preparation for testimony.

The firm will receive a sum of $3,000 as a post-petition retainer.

Mr. Allin disclosed in court filings that the firm is a
"disinterested person" within the meaning of Bankruptcy Code
section 327(a).

The firm can be reached through:

     Kevin Allin SRA, AI-RRS
     Anderson Appraisal Services, Inc.
     2180 Garnet Avenue Suite 3A
     San Diego, CA 92109
     Telephone: (858) 273-3755  
     E-mail: kevin@andersonappraisal.com
   
                      About NSHE CA Bulls LLC

NSHE CA Bulls, LLC is a single asset real estate debtor (as defined
in 11 U.S.C. Section 101(51B)).  

NSHE CA Bulls sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. S.D. Cal. Case No. 19-07519) on Dec. 17, 2019.  At the
time of the filing, Debtor had estimated assets of between $10
million and $50 million and liabilities of between $1 million and
$10 million.  

Judge Laura S. Taylor oversees the case.

Debtor has tapped The Law Offices of Kit J. Gardner as its legal
counsel, and 3C Advisors, LLC and Anderson Appraisal Services, Inc.
as its consultants.

On March 16, 2020, Debtor filed its Chapter 11 plan, which proposes
to pay unsecured creditors in full.


PACIFIC ADDICTION: Case Summary & 10 Unsecured Creditors
--------------------------------------------------------
Debtor: Pacific Addiction and Treatment Company, LLC
        770 SE Indian Street
        Stuart, FL 34997

Chapter 11 Petition Date: September 17, 2020

Court: United States Bankruptcy Court
       Southern District of Florida

Case No.: 20-20028

Judge: Hon. Erik P. Kimball

Debtor's Counsel: Bradley S. Shraiberg, Esq.
                  SHRAIBERG LANDAU & PAGE PA
                  2385 NW Executive Center Dr
                  Suite 300
                  Boca Raton, FL 33431
                  Tel: 561 443 0800
                  Email: bss@slp.law

Estimated Assets: $0 to $50,000

Estimated Liabilities: $50 million to $100 million

The petition was signed by Paul Kamps, CFO.

A copy of the petition containing, among other items, a list of the
Debtor's 10 unsecured creditors is available for free at
PacerMonitor.com at:

https://www.pacermonitor.com/view/46TNDJY/Pacific_Addiction_and_Treatment__flsbke-20-20028__0001.0.pdf?mcid=tGE4TAMA


PACIFIC DRILLING: Mulls Chapter 11 Filing, In Talks With Creditors
------------------------------------------------------------------
Pacific Drilling S.A. (NYSE: PACD) in August 2020 announced that
netet loss for second-quarter 2020 was $87.4 million or $1.16 per
diluted share, compared to net loss of $61.0 million or $0.81 per
diluted share in first-quarter 2020.

Pacific Drilling CEO Bernie Wolford commented, "In the second
quarter, our crews and leadership continued to exemplify our
commitment to safe and efficient operations, including adopting
measures to manage risks associated with COVID-19 transmission,
delivering exceptional results for our clients, efficiently
preserving the value of our assets and significantly reducing
overhead costs."

Mr. Wolford continued, "Although oil prices began to rebound during
the second quarter, clients have generally reduced their drilling
investments, as evidenced by Equinor's decision to cancel the
previously exercised third firm well for Pacific Khamsin, and
Murphy's decision to cancel the two well Mexico contract for the
Pacific Sharav.  In both cases our clients chose to pay a
termination fee rather than perform the drilling programs. We
expect the current contract for Pacific Khamsin to end in September
2020. Despite these headwinds for 2020, we are actively pursuing
opportunities for contracts and are proud to extend our
relationship with Murphy through a new contract for Pacific Sharav
for 10 firm wells and 5 option wells in the U.S. Gulf of Mexico,
which we expect to commence in the second quarter of 2021."

Mr. Wolford concluded, "Although we currently see more contract
opportunities for 2021, compared to 2020, contract durations remain
relatively short, on average, and we expect excess rig supply to
maintain downward pressure on dayrates. We have no debt maturities
until 2023, and cash in excess of $252 million as of June 30, 2020.
We project that we have sufficient liquidity to fund our cash needs
over the next 12 months. However, due to current market conditions
and our outlook for contracting opportunities through 2020 and
2021, we do not believe our current capital structure will be
sustainable. We have engaged financial and legal advisors to assist
us in evaluating various alternatives to address our longer-term
liquidity outlook and capital structure, which may include a
negotiated restructuring of our debt that is implemented under the
protection of Chapter 11 of the U.S. Bankruptcy Code. We are
currently engaged in discussions with a group of our creditors
seeking to reach acceptable terms for a restructuring.  Any such
agreement that we may reach may include the equitization of all or
certain of the Company's indebtedness, which would place our common
shareholders at significant risk of losing all of their interests
in the Company. While we evaluate our strategic alternatives to
address our liquidity outlook and current capital structure, we
continue to deliver the safe, efficient and high-quality drilling
services for which Pacific Drilling is recognized in our
industry."

                     About Pacific Drilling

With its best-in-class drillships and highly experienced team,
Pacific Drilling is committed to exceeding our customers’
expectations by delivering the safest, most efficient and reliable
deepwater drilling services in the industry. Pacific Drilling’s
fleet of seven drillships represents one of the youngest and most
technologically advanced fleets in the world. Pacific Drilling has
principal offices in Luxembourg and Houston. For more information
about Pacific Drilling, including our current Fleet Status, please
visit our website at www.pacificdrilling.com.




PG&E CORP: S&P Alters Outlook to Negative, Affirms 'BB-' ICR
------------------------------------------------------------
S&P Global Ratings revised its outlook on PG&E Corp. and subsidiary
Pacific Gas & Electric Co. (Pac Gas) to negative from stable.

S&P is affirming its ratings on PG&E and Pac Gas including its
'BB-' issuer credit ratings, the 'BB-' rating on PG&E's senior
notes, and the 'BBB-' rating on Pac Gas' senior secured debt.

The negative outlook reflects the accelerated rate of wildfire
activity as demonstrated by the record-setting pace of California's
wildfires, which is still in the early stages of the 2020 wildfire
season. In S&P's view, the lack of sufficient rainfall, the dry
environment, and the ease that relatively routine wildfires can
develop into catastrophic wildfires increases the likelihood that a
California investor-owned electric utility could potentially be the
cause of a catastrophic wildfire.

The negative outlook reflects the evidence of accelerated
catastrophic wildfires.  Although AB 1054 establishes a wildfire
fund that reduces much of the credit risk exposure associated with
California's interpretation of the legal doctrine of inverse
condemnation--whereby a California utility can be financially
responsible for a wildfire if its facilities were a contributing
cause of a wildfire, regardless of its negligence—the fund does
not automatically replenish. Every catastrophic wildfire caused by
a California investor-owned electric utility reduces the relative
size of the fund, weakening credit quality.

"The evidence of wildfire acceleration in just the beginning of
this wildfire season could, in our view, increase the probability
of a California investor-owned electric utility causing a
catastrophic wildfire, depleting the wildfire fund sooner than
expected," S&P said.

The pace of wildfires at just the beginning of this season has been
unprecedented and could eventually strain available resources.  To
date, California has experienced more than 7,700 wildfires that
have burned more than 3 million acres, damaged more than 5,300
structures and has led to more than 20 fatalities. This contrasts
to 2019 when California experienced for the entire wildfire season
about 7,900 wildfires, less than 260,000 acres burned, less than
750 structures destroyed, and 3 fatalities. S&P believes the
acceleration of adverse wildfire conditions is partially affected
by the 2020 below-average rainfall, which it believes could
potentially signal a longer and more devastating wildfire season.
While California's state agencies including the California
Department of Forestry and Fire Protection have performed
remarkably given the extraordinary difficult conditions, these
conditions have contributed to a very difficult regulatory and
political environment.

Managing regulatory risk could become more challenging.  Many of
California's electric customers have already faced rolling
blackouts in 2020 due to the extraordinary hot weather and S&P
expects the pace of public safety power shut-offs to accelerate,
reflecting California's utilities proactively reducing the risk of
causing a catastrophic wildfire. Should the frequency of these
blackouts and shut-offs increase, frustrated customers and
politicians could negatively affect California's investor-owned
electric utilities ability to consistently manage regulatory risk.

Financial measures remain in line with expectations.  S&P assesses
the company's financial risk profile using its medial volatility
table, consistent with its regulated utility business. It expects
2020 funds from operations (FFO) to debt at about 15%, consistent
with the lower end of the range for its financial risk profile
category. Given the company's robust capital spending program of
about $8 billion annually, S&P expects that PG&E will continue to
have negative discretionary cash flow.

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

-- Natural conditions

The negative outlooks on PG&E and Pac Gas reflect the increased
probability for a downgrade incorporating the accelerated rate of
adverse wildfire activity as demonstrated by the record-setting
pace of California's wildfires, which is still in the early stages
of the wildfire season. In S&P's view, the lack of sufficient
rainfall, the dry environment, and the apparent ease that
relatively routine wildfires can develop into a catastrophic
wildfire, increases the likelihood that a California investor-owned
electric utility could potentially be the cause of a catastrophic
wildfire.

"We could downgrade PG&E and Pac Gas over the next 6 to 12 months
if risks increase, such as any of California's investor-owned
electric utilities are found to be the cause of a catastrophic
wildfire, thereby increasing the probability that the wildfire fund
could deplete sooner than expected. We could also lower ratings if
PG&E's consolidated FFO to debt weakens to below 13%," S&P said.

"We could affirm the ratings and revise the outlook to stable over
the next 6 to 12 months if PG&E's consolidated FFO to debt is
consistently above 13%, California's investor-owned electric
utilities are not found to be the cause of a catastrophic wildfire,
and Pac Gas consistently demonstrates effective management of
regulatory risk," the rating agency said.


PRYSM INC: To Split Apart in Bankruptcy
---------------------------------------
The Wall Street Journal reports that Prysm Inc., a California-based
video-screen-technology developer, has filed for bankruptcy after
cutting a deal to sell some assets and hand over others to lenders
including Kuwait's sovereign-wealth fund.

Under a proposed restructuring plan, ESW Capital LLC, an Austin,
Texas-based acquirer of technology companies, has agreed to buy
Prysm's cloud-hosted collaboration software business out of
bankruptcy for at least $12 million.

During the chapter 11 proceedings, Prysm's large-format hardware
display business and certain related assets will be handed over to
creditors, including the Kuwait Investment Authority, that will
forgive some debt.

Kuwait-backed display developer Prysm has filed for chapter 11
bankruptcy, selling off some assets and handing over others to
Kuwait’s sovereign-wealth fund as the company splits apart.
Prysm filed for bankruptcy in the US Bankruptcy Court, citing
liabilities of $273.6 million and assets of $4.6 million USD.

                        About Prysm Inc.

Prysm, Inc. -- https://www.prysm.com -- was formed in 2005 to
develop, market and sell large-format displays using its
proprietary Laser Phosphor Display or LPD technology. The Debtor
introduced its first generation of tile-based LPD displays in 2010
and its second generation of single panel large-format displays in
2018. The Debtor is headquartered in Milpitas California where it
conducts product development, testing, service, support,
management, and administrative operations.

Prysm, Inc., based in Milpitas, CA, filed a Chapter 11 petition
(Bankr. D. Del. Case No. 20-11924) on Aug. 5, 2020.

The petition was signed by Amit Jain, president, CEO and chairman
of the Board.  In its petition, the Debtor disclosed $4,636,132 in
assets and $273,635,076 in liabilities.

The Hon. John T. Dorsey presides over the case.

GELLERT SCALI BUSENKELL & BROWN, LLC, serves as bankruptcy counsel
to the Debtor.  EPIQ CORPORATE RESTRUCTURING, LLC, is the claims
and noticing agent.


PURDUE PHARMA: DoJ Asserts Claims for $11 Billion in Penalties
--------------------------------------------------------------
The U.S. Department of Justice is demanding Purdue Pharma LP, maker
of the infamous OxyContin opioid painkiller, pay more than $11
billion in criminal and civil penalties as part of its bankruptcy
reorganization plan, Jef Feeley of Bloomberg News reported in
August, citing  people familiar with the claims.

Federal prosecutors want Purdue to pay as much as $6.2 billion on
the criminal side and about $5 billion in civil compensation for
tax dollars spent battling the U.S. opioid epidemic and the havoc
wreaked by allegedly illegal marketing of the drug, said the people
who asked not to be identified because they're not authorized to
speak publicly about the filing of the claims.

Daniel Connolly, a lawyer for one wing of the Sackler family, said
his clients wouldn't comment on the government's filing.

"The Sackler family continues to support the proposed settlement
framework valued at more than $10 billion, which is also supported
to date by more than 28 states and territories and thousands of
municipalities," he said in an emailed statement.  "We look forward
to the conclusion of this process when all of Purdue’s documents
will be public, making clear that the Sackler family acted
ethically and responsibly at all times."

                    About Purdue Pharma LP

Purdue Pharma L.P. and its subsidiaries --
http://www.purduepharma.com/-- develop and provide prescription
medicines and consumer products that meet the evolving needs of
healthcare professionals, patients, consumers and caregivers.

Purdue's subsidiaries include Adlon Therapeutics L.P., focused on
treatment for Attention-Deficit/Hyperactivity Disorder (ADHD) and
related disorders; Avrio Health L.P., a consumer health products
company that champions an improved quality of life for people in
the United States through the reimagining of innovative product
solutions; Imbrium Therapeutics L.P., established to further
advance the emerging portfolio and develop the pipeline in the
areas of CNS, non-opioid pain medicines, and select oncology
through internal research, strategic collaborations and
partnerships; and Greenfield Bioventures L.P., an investment
vehicle focused on value-inflection in early stages of clinical
development.

Opioid makers in the U.S. are facing pressure from a crackdown on
the addictive drug in the wake of the opioid crisis and as state
attorneys general file lawsuits against manufacturers. More than
2,000 states, counties, municipalities and Native American
governments have sued Purdue Pharma and other pharmaceutical
companies for their role in the opioid crisis in the U.S., which
has contributed to the more than 700,000 drug overdose deaths in
the U.S. since 1999.

OxyContin, Purdue Pharma's most prominent pain medication, has been
the target of over 2,600 civil actions pending in various state and
federal courts and other fora across the United States and its
territories.

On Sept. 15 and 16, 2019, Purdue Pharma L.P. and 23 affiliated
debtors each filed a voluntary petition for relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No.
19-23649), after reaching terms of a preliminary agreement for
settling the massive opioid litigation facing the Company.

The Company's consolidated balance sheet at Aug. 31, 2019, showed
$1.972 billion in assets and $562 million in liabilities.

U.S. Bankruptcy Judge Robert Drain, in White Plains, New York, has
been assigned to oversee Purdue's Chapter 11 case.

Davis Polk & Wardwell LLP and Dechert LLP are serving as legal
counsel to Purdue.  PJT Partners is serving as investment banker,
and AlixPartners is serving as financial advisor.  Prime Clerk LLC
is the claims agent.



QUANTA INC: March 31 Quarter Results Cast Going Concern Doubt
-------------------------------------------------------------
Quanta, Inc., filed its quarterly report on Form 10-Q, disclosing a
net loss of $1,359,000 on $351,000 of net sales for the three
months ended March 31, 2020, compared to a net loss of $183,000 on
$224,000 of net sales for the same period in 2019.

At March 31, 2020, the Company had total assets of $1,338,000,
total liabilities of $1,882,000, and $544,000 in total
stockholders' deficit.

For the three months ended March 31, 2020, the Company incurred a
net loss of $1,359 and used cash in operating activities of $453,
and at March 31, 2020, the Company had a had a working capital
deficiency of $1,066.  These factors raise substantial doubt about
the Company's ability to continue as a going concern within one
year of the date that the financial statements are issued.

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

                       https://is.gd/IFnRDZ

Quanta, Inc., an applied science company, focuses on enhancing
energy levels in plant matter to increase performance within the
human body. Its proprietary technology uses quantum mechanics to
increase bio-activity of targeted molecules to enhance the desired
effects. The company specializes in potentiating rare naturally
occurring elements to create impactful and sustainable healing
solutions that are as pharmaceutical drugs. It offers its
technology as a platform to product makers through distribution
channels, as well as consumer products. The company sells its
products directly to customers (DTC) through online orders from its
websites, and DTC sales at conventions and events; and through
wholesalers, including physicians, pharmacies, fitness studios,
grocery stores, and other organizations. It serves brands in
cannabis, anti-aging, health and wellness, stress management, pain
management, fitness, and brain performance enhancement.  The
company was founded in 2016 and is headquartered in Burbank,
California.


RECORDS CENTRAL: Seeks Approval to Hire Bankruptcy Attorney
------------------------------------------------------------
Records Central, Inc. seeks approval from the U.S. Bankruptcy Court
for the Northern District of Ohio to hire Frederic Schwieg, Esq.,
an attorney practicing in Ohio, to handle its Chapter 11 case.

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

   a. assist in the preparation of pleadings and services
incidental to the bankruptcy proceedings;

   b. conduct examinations or depositions of witnesses;

   c. participate in negotiations for the sale of assets of the
estate; and

   d. assist in the production of related Chapter 11 documents.

Debtor will pay Mr. Schwieg at the hourly rate of $300.  

The bankruptcy attorney received a sum of $10,000 for
pre-bankruptcy fees and as security for services to be rendered.

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

Mr. Schwieg holds office at:

     Frederic P. Schwieg, Esq.
     Frederic P Schwieg Attorney at Law
     19885 Detroit Rd #239
     Rocky River, OH 44116
     Telephone: (440) 499-4506
     Facsimile: (440) 398-0490
     Email: fschwieg@schwieglaw.com

                    About Records Central Inc.

Based in Cleveland, Ohio, Records Central, Inc. provides shredding,
scanning, data protection, and electronic content management (ECM)
services.

Records Central sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Ohio Case No. 20-13996) on Aug. 30,
2020. Michael Rich, the company's president, signed the petition.
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 Jessica E. Price Smith oversees the case.  Frederic P,
Schwieg, Esq., is Debtor's legal counsel.


RECRUITER.COM GROUP: Has $2.5M Net Loss for the March 31 Quarter
----------------------------------------------------------------
Recruiter.com Group, Inc., filed its quarterly report on Form 10-Q,
disclosing a net loss of $2,482,605 on $2,313,123 of revenue for
the three months ended March 31, 2020, compared to a net loss of
$382,322 on $163,302 of revenue for the same period in 2019.

At March 31, 2020, the Company had total assets of $6,269,247,
total liabilities of $5,236,258, and $1,032,989 in total
stockholders' equity.

Recruiter.com Group said, "The Company's management has evaluated
whether there is substantial doubt about the Company's ability to
continue as a going concern and has determined that substantial
doubt existed as of the date of the end of the period covered by
this report.  This determination was based on the following
factors: (i) the Company has a working capital deficit as of March
31, 2020 and the Company's available cash as of the date of this
filing will not be sufficient to fund its anticipated level of
operations for the next 12 months; (ii) the Company will require
additional financing for the fiscal year ending December 31, 2020
to continue at its expected level of operations; and (iii) if the
Company fails to obtain the needed capital, it will be forced to
delay, scale back, or eliminate some or all of its development
activities or perhaps cease operations.  In the opinion of
management, these factors, among others, raise substantial doubt
about the ability of the Company to continue as a going concern as
of the date of the end of the period covered by this report and for
one year from the issuance of these unaudited condensed
consolidated financial statements."

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

                       https://is.gd/PmAthA

Recruiter.com Group, Inc. operates a platform for connecting
recruiters and employers. It pairs enterprises with a network of
recruiters to drive the hiring of top talent faster and smarter.
The company offers recruitment services through its Job Market
technology platform; and resume distribution services, as well as
SHRM certified recruitment training services for recruiters. In
addition, it provides marketing services primarily for B2B
specialized software and services businesses. Recruiter.com Group,
Inc. is based in Houston, Texas.


RED ROBIN: Discloses Substantial Doubt on Staying as Going Concern
------------------------------------------------------------------
Red Robin Gourmet Burgers, Inc., filed its quarterly report on Form
10-Q, disclosing a net loss of $174,298,000 on $306,065,000 of
total revenues for the sixteen weeks ended April 19, 2020, compared
to a net income of $639,000 on $409,866,000 of total revenues for
the sixteen weeks ended April 21, 2019.

At April 19, 2020, the Company had total assets of $1,122,051,000,
total liabilities of $937,682,000, and $184,369,000 in total
stockholders' equity.

The Company disclosed that substantial doubt exists surrounding its
ability to meet its obligations within one year of the financial
statement issuance date and to continue as a going concern.

The Company said, "Pursuant to the terms of the First Amendment to
the Credit Agreement and Waiver (the "Amendment") to the Company's
Amended and Restated Credit Agreement (the "Credit Facility"), the
lenders thereto agreed, among other things, to waive the existing
events of default under the Credit Facility related to the
Company's failure to comply with the financial covenants as of the
end of the fiscal quarter ended April 19, 2020.  In addition, the
lenders agreed to (a) suspend the application of the lease adjusted
leverage ratio financial covenant (the "Leverage Ratio Covenant")
and the fixed charge coverage ratio financial covenant (the "FCCR
Covenant"), in each case, for the fiscal quarters ending on July
12, 2020, October 4, 2020 and December 27, 2020 and (b) increase
the maximum leverage permitted for purposes of the Leverage Ratio
Covenant for each of the first three fiscal quarters ending in
2021; provided that the Company issues new equity (or convertible
debt) generating net cash proceeds of at least $25 million.

"The Company is actively evaluating options for raising equity
capital in order to satisfy the requirements of the Amendment.  If
the Company is unable to raise sufficient equity capital within the
timeframe prescribed by the Amendment, and is unable to obtain a
further waiver or amendment to the Credit Facility, then the
Company could experience an event of default under the Credit
Facility, which could have a material adverse effect on the
Company's liquidity, financial condition, and results of
operations.  We cannot make any assurance regarding the likelihood,
certainty, or exact timing of the Company's ability to raise
capital or execute further amendments to the Credit Facility.  As a
result, under applicable accounting standards, the Company
concluded, because the equity raise is outside of management's
control, substantial doubt exists surrounding the Company's ability
to meet its obligations within one year of the financial statement
issuance date and to continue as a going concern."

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

                       https://is.gd/GtXGRt

Greenwood Village, Colorado-based Red Robin Gourmet Burgers, Inc.,
develops, operates, and franchises full-service restaurants with
556 locations in North America. As of December 31, 2017, the
Company operated 480 Company-owned restaurants located in 44 states
and two Canadian provinces. The Company also had 86 franchised
full-service restaurants in 15 states as of December 31, 2017.


RED VENTURES: Fitch Affirms B+ LongTerm IDR, Outlook Stable
-----------------------------------------------------------
Fitch Ratings has affirmed the Long-Term Issuer Default Ratings
(IDR) of Red Ventures Holdco, LP, Red Ventures, LLC and New
Imagitas, Inc. at 'B+' following Red Ventures' announcement of its
acquisition of CNET Media Group for $500 million. Fitch expects
leverage to rise above its 5.0x negative leverage sensitivity in
the near term owing to incremental debt to finance the CNET
acquisition, and EBITDA declines due to the COVID-19 driven
advertising recession. However, Fitch expects leverage will quickly
decline below 5.0x as marketing spend recovers in 2021, acquisition
synergies are realized, and the company repays debt used to fund
the acquisition. Fitch also believes the 'B+' IDR adequately
considers risks related to Red Ventures' dependence on cyclical
marketing spend.

KEY RATING DRIVERS

Acquisition of CNET: Fitch views Red Ventures' acquisition of CNET
as a long-term credit positive, despite the near-term negative
effect on credit protection metrics. Fitch expects deleveraging to
be a priority after gross leverage rises above 5.0x in the back
half of 2020. Red Ventures' strong track record of reducing debt
after previous large-scale debt funded acquisitions gives Fitch
confidence in the company's deleveraging path back below Fitch's
5.0x negative leverage sensitivity in the near term and ultimately
to within the company's 3x-4x target leverage range. Ultimately,
Fitch believes the acquisition of CNET will help further diversify
Red Ventures' customer concentration and increase exposure to end
markets with favorable secular tailwinds such as consumer
technology and gaming.

COVID-19 Impact: Red Ventures has been materially affected by the
social and economic responses to the COVID-19 pandemic. As local
governments began issuing stay-at-home orders and restricting
commerce, advertisers quickly trimmed marketing budgets. The
effects have been most severe in Red Ventures' financial services
business. Tightening consumer credit standards and lower perceived
lifetime value of new customers have reduced both the volume of new
customer acquisitions and the bounty per customer acquired.

As a result of these issues, 2Q20 consolidated LTM EBITDA was down
approximately 7.0% YoY, and Fitch calculated leverage (total debt
with equity credit/operating EBITDA) increased to 4.7x as of June
30, 2020. The company notes that excluding its credit card
business, YTD EBITDA was up double-digits YoY. Additionally, the
credit cards business has shown sequential improvements every month
since its trough in April 2020 and will likely continue to recover
gradually as consumer credit standards loosen.

Leading Customer Acquisition Platform: Red Ventures is the market
leader in screening potential customers online, using its
technology-enabled customer acquisition and marketing services
platform to deliver higher qualified leads, conversions and
retention to its partners, consistently outperforming its partners'
in-house marketing teams. Fitch notes the company has been honing
its approach to data-driven marketing using proprietary technology
refined over the past 15 years. Although its product offerings can
be reproduced, the company's specific analytics capabilities and
successful track record of value creation are difficult to
recreate.

Sticky Partner Relationships: The company has consistently provided
higher sales conversions and customer retention as measured by
average life time value than its partners and competitors. As a
result, eight of Red Ventures' top 10 partners having been with the
company for more than five years. Management notes the company has
never lost a partner due to poor performance.

Highly Acquisitive Strategy: Fitch expects both large- and
small-scale acquisitions will be a key tenet of Red Ventures growth
profile over the rating horizon. The debt-funded acquisition of
CNET is consistent with Fitch's expectation for the company to use
leverage opportunistically to fund acquisitions. Red Ventures'
history of delevering after large acquisitions such as Bankrate and
Healthline gives Fitch confidence that Red Ventures will reduce
leverage back to its target range of 3x-4x over the medium term.
Red Ventures also has a strong track record of integrating its
acquisitions, cutting costs, improving operations and growing
revenue and EBITDA, which further supports Fitch's expectation for
deleveraging.

Capital Allocation Strategy: Management's primary use of FCF is
expected to be acquisitions and debt repayment over the rating
horizon. The acquisition of CNET will raise pro forma leverage to
5.0x for the LTM period ended June 30, 2020, and leverage will
likely tick higher as weakness in the credit cards business drives
further EBITDA declines. Management has guided to a long-term gross
leverage target range of 3.0x-4.0x, however, remains opportunistic
with M&A and indicated leverage could exceed 4.0x for the right
acquisition.

Customer and End-Market Concentration: The company's top three
customers generated 22% of revenues for the year ended Dec. 31,
2019, which is materially down from 30% in 2018. Fitch expects
customer concentration to decline further once the CNET acquisition
is completed. Red Ventures' end markets have been historically
concentrated in financial services and telco. Fitch views the
acquisitions of CNET, HigherEducation and Healthline positively as
each acquisition increases end-market diversification.

DERIVATION SUMMARY

Red Ventures' 'B+' Long-Term IDR incorporates the company's leading
position as a digital marketing company that helps its clients
acquire customers using proprietary technology and data analytics.
Prior to the current macroeconomic and advertising recessions, the
company had exhibited strong sustained revenue and EBITDA growth.
Rating limitations include the sector's low barriers to entry.
However, Red Ventures has consistently refined its data-driven
marketing services, creating a long-term track record of value
creation that is difficult to replicate.

Fitch takes comfort from Red Ventures' continued push to diversify
its end markets, reducing concerns of customer concentration. Fitch
views the acquisition of CNET as a long-term credit positive, as
the acquisition will reduce customer concentration and increase
exposure to favorable end markets such as consumer technology and
gaming through an established brand name.

As a result of recent strategic acquisitions, the company has
achieved more meaningful scale and is forecasted to surpass its
positive rating sensitivity threshold of $1.5 billion in revenues
in 2021. Fitch believes the increasing scale, dominant market
position, and strong cash flow characteristics of the business
allows the business to manage higher levels of leverage. EBITDA and
FCF margins have exceeded Fitch's initial estimates. While gross
leverage will rise above 5.0x in 2020, Fitch believes there is a
clear deleveraging path through EBITDA growth and voluntary debt
reduction.

KEY ASSUMPTIONS

  -- Fitch assumes a consolidated pro forma revenue decline of
approximately 10% in 2020, primarily driven by financial services
revenue declines. Fitch assumes that revenue the Home Services,
Health & International, and Education segments will be flat to
slightly up in 2020. Fitch assumes a slight EBITDA margin
contraction as financial services expenses are reallocated instead
of cut.

  -- Fitch assumes the CNET Media Group acquisition closes at the
end of the fourth quarter, with revenue and EBITDA not materially
contributing to results until 2021. Fitch assumes the acquisition
is funded by incremental term loans and free cash flow.

  -- Fitch assumes modest organic revenue growth in 2021, driven by
a strong recovery in the credit cards business and low-to-mid
single digit growth in other segments, but insufficient to offset
declines in 2020. Fitch also assumes EBITDA margins return close to
2019 levels. Fitch assumes low-to-mid single digit organic revenue
growth thereafter.

  -- Fitch assumes CNET revenue grows at low double-digit rates
driven by improved monetization strategies and favorable secular
tailwinds. Fitch also assumes modest margin expansion as Red
Ventures realizes expected cost synergies.

  -- Fitch assumes an additional $1.25 billion of acquisitions over
the rating horizon funded by revolver borrowings and FCF.

RECOVERY RATING ASSUMPTIONS

Going Concern Approach:

The recovery analysis assumes that Red Ventures would be considered
a going-concern in bankruptcy and that the company would be
reorganized rather than liquidated. Fitch has assumed a 10%
administrative claim and uses a 6x EV multiple to calculate a
post-reorganization valuation.

Fitch's recovery analysis contemplates insolvency resulting from
inadequate liquidity amid recessionary stress. In this scenario,
Fitch assumed that the company is unable to integrate the large
number of acquisitions into the business in addition to the loss of
major partner contracts resulting in material revenue and EBITDA
declines.

The estimate considered Fitch's more positive view of the data
analytics subsector including the typically high proportion of
recurring revenues, sizeable and stable EBITDA margins and strong
FCF conversion. Recent acquisitions in the data and analytics
subsector have occurred at attractive multiples. Acquisitions and
dispositions in the data and analytics subsector ranged from
10x-13x. Current EV multiples of public companies similar to Red
Ventures trade in the 10x-17x range.

The recovery analysis assumes full utilization on the revolver and
implies a 'BB'/'RR2' rating on the senior first lien secured debt.

The recovery analysis does not currently consider any incremental
debt or EBITDA from the CNET acquisition, as Red Ventures has not
yet determined how it will ultimately fund the acquisition.
However, Fitch does not expect the recovery rating on the senior
secured debt to change meaningfully once the financing method has
been determined.

RATING SENSITIVITIES

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

  -- Management maintains total debt with equity credit to EBITDA
below 3.5x, grows revenue to more than $1.5 billion, and in
addition further reduces partner and end-market concentration;

  -- FCF margins are sustained in the mid-to-high teens.

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

  -- Total debt with equity credit to EBITDA exceeds 5.0x for an
extended period of time, either through a debt-funded acquisition
or sizable owner distributions;

  -- FCF generation reverts and margins fall below 5% or become
negative;

  -- Company loses large clients.

LIQUIDITY AND DEBT STRUCTURE

Adequate Liquidity: At June 30, 2020, the company had $79 million
in balance sheet cash and generated $255 million in FCF for the LTM
period ended June 30, 2020. Red Ventures has $550 million of
capacity under its $754 million revolver, as the company has
steadily repaid revolver borrowings, which were used to finance the
Healthline acquisition in 2019 and support liquidity through the
COVID-19 pandemic. While Red Ventures maintains sufficient revolver
capacity to finance the CNET acquisition with existing liquidity
sources, Fitch's base case assumes Red Ventures will raise
additional debt to finance the acquisition and maintain its
revolver capacity.

Fitch expects Red Ventures to maintain sufficient liquidity to
support operations and debt service. There are no near-term
maturities, presenting limited refinancing risk. The revolver
matures in November 2023 and the term loan in November 2024.

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.


REMINGTON OUTDOOR: Opposes Retirees' Bid for Formal Committee
-------------------------------------------------------------
Reuters reports that Remington Outdoor Co urged a bankruptcy judge
to block an effort by retirees to obtain a formal role in its
bankruptcy.

As reported in the TCR, 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.

                  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.

The Debtors 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.


REYNOLDS GROUP: Moody's Gives B2 CFR, Outlook Stable
----------------------------------------------------
Moody's Investors Service affirmed the B2 Corporate Family Rating
and B2-PD Probability of Default Rating of Reynolds Group Holdings
Inc. (Reynolds). Moody's also assigned B1 ratings to Reynolds Group
Holdings Inc.'s new senior secured credit facilities, including the
proposed $250 million revolving credit facility due 2024 and the
$1,000 million senior secured term loan due 2026, and to Reynolds
Group Issuer Inc.'s proposed $1,000 million senior secured notes
due 2027. The proceeds of the new debt, along with proceeds from
the proposed IPO and available cash, will be used to pay down
existing debt. The new facilities are expected to have the same
terms and conditions as the existing facilities and all are pari
passu.

Moody's also affirmed the B1 rating on the company's existing
senior secured facilities and the Caa1 rating on the company's
existing senior unsecured notes. The existing senior unsecured
notes at Reynolds Group Issuer Inc. due 2024 and the $302 million
revolving credit facility due 2021 at Reynolds Group Holdings Inc.
will be withdrawn at the close of the transaction as they are
expected to be completely paid down. The outlook remains stable.
And finally, the company's SGL-2 Speculative Grade Liquidity Rating
is maintained.

On September 8, 2020, Pactiv Evergreen Inc. (PTVE, currently known
as Reynolds Group Holdings Limited, parent of Reynolds Group
Holdings Inc.) announced that it had launched an initial public
offering of its common stock. In conjunction with the IPO, PTVE is
also refinancing certain debt. The company is expected to pay down
approximately $1,365 million of debt assuming IPO proceeds of $800
million.

The affirmation of the ratings reflects Moody's expectation of
improvements in pro forma credit metrics in 2021 as the company
benefits from productivity initiatives, debt reduction and some
recovery in the foodservice end market from the coronavirus
pandemic. Moody's expects leverage to decline from 7.1x, pro forma
for the IPO, recent divestitures and refinancing as of 2Q20, to
6.2x by the end of 2021. The EBITDA margin is expected to improve
to over 15.0% from 13.7%. Free cash flow to debt is expected to be
over 2.5% as one-time costs for the IPO, pension liability payment
and productivity initiatives in 2020 do not recur in 2021. Moody's
expects the company to maintain good liquidity with pro forma cash
of approximately $497 million, full availability under the $250
million revolver and adequate cushion under the existing
covenants.

The ratings are subject to the receipt and review of the final
documentation.

Assignments:

Issuer: Reynolds Group Holdings Inc.

  Senior Secured Bank Credit Facility, Assigned B1 (LGD3)

Issuer: Reynolds Group Issuer Inc.

  Senior Secured Regular Bond/Debenture, Assigned B1 (LGD3)

Affirmations:

Issuer: Pactiv Corporation

  Senior Unsecured Regular Bond/Debenture, Affirmed Caa1 (LGD5)
from (LGD6)

Issuer: Reynolds Group Holdings Inc.

  Probability of Default Rating, Affirmed B2-PD

  Corporate Family Rating, Affirmed B2

  Senior Secured Bank Credit Facility, Affirmed B1 (LGD3)

Issuer: Reynolds Group Issuer Inc.

  Senior Secured Regular Bond/Debenture, Affirmed B1 (LGD3)

  Senior Unsecured Regular Bond/Debenture, Affirmed Caa1 (LGD5)
from (LGD6)

Outlook Actions:

Issuer: Pactiv Corporation

  Outlook, Remains Stable

Issuer: Reynolds Group Holdings Inc.

  Outlook, Remains Stable

Issuer: Reynolds Group Issuer Inc.

  Outlook, Remains Stable

RATINGS RATIONALE

Weaknesses in Reynolds credit profile include a high customer and
end market concentration of sales and a controlling interest by a
single individual. The company lacks contracts and raw material
cost pass throughs for a high percentage of its business which
lowers switching costs for customers and leaves Reynolds exposed to
increases in volatile raw material costs. Reynolds operates in the
fragmented and competitive packaging sector which makes margin
expansion challenging.

Strengths in the company's credit profile include a high percentage
of revenue from food and beverage end markets and long-standing
relationships with blue chip customers. Reynolds also has strong
brand names in its segments and a continued focus on sustainability
and productivity including significant investments in automation,
systems and new product development.

Reynolds has little exposure to industries that may be negatively
affected by the rapid and widening spread of the coronavirus
outbreak and high exposure to those that are expected to benefit
including food and beverage. Moody's regards the coronavirus
outbreak as a social risk under its ESG framework, given the
substantial implications for public health and safety. Governance
risks are still heightened given that Reynolds will remain majority
owned (77%) and controlled by one individual (Graeme Hart)
following the planned IPO. Graeme Hart has undertaken numerous
transactions with his companies in the past including debt financed
acquisitions and has been financially aggressive.

The stable outlook reflects Moody's expectation that the company
will realize significant cost savings from its recently implemented
initiatives, maintain good liquidity and improve credit metrics.
Credit metrics are stretched pro forma for the IPO, recent
divestitures and refinancing as of 2Q20, and Reynolds will need to
achieve significant improvement in order to maintain the rating.

The SGL-2 Speculative Grade Liquidity Rating reflects an
expectation of weak free cash flow over the next 12 months offset
by a large cash balance and full availability under the revolver.
Free cash flow is expected to be constrained over the next 12
months as the company incurs costs for the IPO, pension liability
funding and productivity initiatives. Pro forma for the
transaction, Reynolds is expected to have $497 million in cash and
full availability under the proposed $250 million revolving credit
facility.

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

The ratings could be downgraded if Reynolds fails to achieve the
expected improvement in credit metrics or there is any
deterioration in liquidity or the operating environment.
Specifically, the ratings could be downgraded if:

  -- Debt to EBITDA is above 6.3x

  -- EBITDA to interest expense is below 2.5 times

  -- Free cash flow to debt is below 2.0%

The rating could be upgraded if Reynolds sustainably improves its
credit metrics within the context of a stable operating environment
while maintaining adequate liquidity. Specifically, the ratings
could be upgraded if:

  -- Debt to EBITDA is below 5.25 times

  -- EBITDA to interest expense is above 3.5 times

  -- Free cash flow to debt is above 4.0%

Reynolds (a subsidiary of Pactiv Evergreen Inc., NASDAQ symbol
PTVE) manufactures and distributes fresh foodservice and food
merchandising products and fresh beverage cartons. The company is
based in Chicago, Illinois and controlled by financier Graeme Hart
(77% ownership).

The principal methodology used in these ratings was Packaging
Manufacturers: Metal, Glass and Plastic Containers Methodology
published in September 2020.


ROBERT J. AMBRUSTER: Gets Interim Approval to Hire Legal Counsel
----------------------------------------------------------------
Robert J. Ambruster, Inc. received interim approval from the U.S.
Bankruptcy Court for the Eastern District of Missouri to employ
O'Gorman & Sandroni, P.C. as its legal counsel.

The services that will be provided by O'Gorman & Sandroni are as
follows:

     a) analyze Debtor's financial condition;

     b) prepare and file legal papers;

     c) represent Debtor at the meeting of creditors and hearings;


     d) represent Debtor in adversary proceedings; and

     e) assist Debtor in lawsuits and administrative proceedings
related to its Chapter 11 case.

Angela Redden-Jansen, Esq., the firm's attorney who will be
handling the case, will be paid at the rate of $325 per hour.  The
rates charged by paralegals range from $140 to $245 per hour.

The firm received a retainer of $15,000.

Ms. Redden-Jansen disclosed in court filings that she and O'Gorman
& Sandroni are "disinterested persons" within the meaning of
Section 101(14) of the Bankruptcy Code.

Ms. Redden-Jansen holds office at:

     Angela Redden-Jansen, Esq.
     O'Gorman & Sandroni, P.C.
     3350 Greenwood Blvd.
     Maplewood, MO 63143
     Telephone: (314) 645-5900

                   About Robert J. Ambruster Inc.

Based in Saint Louis, Mo., Robert J. Ambruster, Inc. operates as
funeral home and has been in the funeral business for more than 100
years.

Robert J. Ambruster sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. E.D. Mo. Case No. 20-44289) on Sept. 3,
2020.  At the time of the filing, Debtor had estimated assets of up
to $50,000 and liabilities of between $100,001 to $500,000.

Judge Bonnie L. Clair oversees the case.  Angela Redden-Jansen is
Debtor's legal counsel.


ROBERT J. AMBRUSTER: Taps Pace Properties as Real Estate Broker
---------------------------------------------------------------
Robert J. Ambruster, Inc. seeks approval from the U.S. Bankruptcy
Court for the Eastern District of Missouri to employ Pace
Properties, Inc. as its real estate broker.

The firm will assist in the sale and marketing of Debtor's real
property located at 6627, 6629 and 6633 Clayton Road, St. Louis,
Mo.

Pace Properties will be paid a 6 percent commission on the gross
sales price.

Ryan Geringer, an associate broker at Pace Properties, disclosed in
court filings that the firm is a "disinterested person" within the
meaning of Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Ryan Geringer
     Pace Properties, Inc.
     1401 S. Brentwood Blvd., Ste. 900
     St. Louis, MO 63144
     Telephone: (304) 968-9898
     
                   About Robert J. Ambruster Inc.

Based in Saint Louis, Mo., Robert J. Ambruster, Inc. operates as
funeral home and has been in the funeral business for more than 100
years.

Robert J. Ambruster sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. E.D. Mo. Case No. 20-44289) on Sept. 3,
2020.  At the time of the filing, Debtor had estimated assets of up
to $50,000 and liabilities of between $100,001 to $500,000.

Judge Bonnie L. Clair oversees the case.  Angela Redden-Jansen is
Debtor's legal counsel.


ROSEHILL RESOURCES: Has $230.3M Net Loss for the March 31 Quarter
-----------------------------------------------------------------
Rosehill Resources Inc. filed its quarterly report on Form 10-Q,
disclosing a net loss of $230,328,000 on $60,194,000 of total
revenues for the three months ended March 31, 2020, compared to a
net loss of $104,072,000 on $71,860,000 of total revenues for the
same period in 2019.

At March 31, 2020, the Company had total assets of $659,038,000,
total liabilities of $513,139,000, and $23,025,000 in total
stockholders' deficit.

The Company disclosed that it has substantial doubt about its
ability to continue as a going concern within one year after the
date that these condensed consolidated financial statements are
issued and the impact on the presentation of these condensed
consolidated financial statements.

The Company said, "On March 19, 2020, the Company announced that it
had fully drawn the available capacity under the revolving credit
facility, pursuant to the Amended and Restated Credit Agreement (as
defined in Note 13 - Long term debt, net).  The draw was a
precautionary measure in order to increase the Company's cash
position and preserve financial flexibility in light of uncertainty
in the global markets and commodity prices.  The draw brought the
Company's total outstanding principal under the Amended and
Restated Credit Agreement to $340 million as of March 31, 2020.

"On March 23, 2020, the Company received a letter from The Nasdaq
Stock Market LLC ("Nasdaq") indicating that for the 30 consecutive
business days ending March 20, 2020, the bid price of the Company's
Class A Common Stock had closed below the $1.00 per share minimum
bid price requirement for continued listing on The Nasdaq Capital
Market under Nasdaq Listing Rule 5550(a)(2).  Under Nasdaq Listing
Rule 5810(c)(3)(A), the Company has 180 calendar days to regain
compliance by meeting the continued listing standard, which was
extended by Nasdaq in light of market conditions resulting from the
COVID-19 pandemic to December 3, 2020.

"In March 2020, in response to the substantial decrease in crude
oil prices resulting from COVID-19 and the adverse effects on the
Company's financial condition as a result thereof, the Company
halted all drilling and completion activity, which has resulted in
a reduction in anticipated production and cash flows.  The
Company's future cash flows from operations are subject to a number
of variables, including uncertainty in forecasted commodity pricing
and production, redetermined borrowing base capacity after the
forbearance expires, which may be significantly reduced, and the
Company's ability to reduce costs.  The Company may generate
additional funds through (i) monetization of its commodity
derivatives, subject to any required approval from lenders, (ii)
the sale of non-core assets and (iii) other sources of capital.
The Company may not accomplish any of these alternatives on
acceptable terms or at all.

"On April 1, 2020, the Company received a default notice from the
agent under the Note Purchase Agreement (as defined in Note 13 -
Long term debt, net), advising that a Default (as defined in the
Note Purchase Agreement) under the Note Purchase Agreement had
occurred on account of the Rosehill Operating's failure to deliver
or file audited financial statements in accordance with Section
8.01(a) of the Note Purchase Agreement by March 30, 2020, which
failure constituted a Default under Section 10.01(e) of the Note
Purchase Agreement and would mature into an Event of Default under
and within the time period provided in Section 10.01(e) (the
"Identified Default").

"On April 2, 2020, the Company received a default notice from
JPMorgan Chase Bank, N.A., as agent under the Amended and Restated
Credit Agreement, advising the Company that Rosehill Operating had
failed to deliver or file certain of its or the Company's audited
financial statements without a "going concern" or like
qualification or exception by March 30, 2020, as required pursuant
to Section 8.01(a) of the Amended and Restated Credit Agreement, as
well as the accompanying certificates and reports contemplated by
Sections 8.01(c), (d), (e) and (m) of the Amended and Restated
Credit Agreement.  The default notice served as notice that the
lenders deemed such failure to be a Default (as defined in the
Amended and Restated Credit Agreement) under Section 10.01(e) of
the Amended and Restated Credit Agreement.

"On April 15, 2020, the Company did not declare or pay cash
dividends on its Series B Preferred Stock (the "Series B Preferred
Stock Dividend") that were due on that day.  In order to make a
dividend payment, the Company's Amended and Restated Credit
Agreement requires that the Company's borrowings outstanding be 20%
less than the committed borrowing capacity in place at the time of
a dividend payment.  The Company was prohibited from declaring the
Series B Preferred Stock Dividend due to insufficient borrowing
capacity under the Amended and Restated Credit Agreement.  As a
result, the dividend rate of the Series B Preferred Stock Dividend
increased to 12% per annum until such a time as dividends are fully
paid and current, at which time the dividend rate will revert back
to 10% per annum.  If the Company fails to pay the Series B
Preferred Stock Dividend for nine consecutive months, the holders
of the Series B Preferred Stock may elect to seek redemption of all
or a portion of the Series B Preferred Stock, which redemption
amount was approximately $195.2 million had the full redemption
occurred as of March 31, 2020.  The Company does not expect to be
able to pay dividends on the Series B Preferred Stock within the
nine consecutive months following April 15, 2020; as such, we
expect the Series B Preferred Stock would be redeemable at the
holders' option after that time.  If the full redemption had
occurred as of March 31, 2020, the redemption amount would have
been approximately $195.2 million.

"On April 29, 2020, the Company received a default notice from the
agent under the Note Purchase Agreement, advising that, in addition
to the Identified Default, an Event of Default under the Note
Purchase Agreement had occurred on account of Rosehill Operating's
failure to cause Rosehill Intermediate Holdco, LLC, Rosehill
Holdco, LLC, and Rosehill Mergerco, LLC (collectively, the "New
Rosehill Entities") to (x) guarantee the Obligations pursuant to
Guaranty Agreements and to grant liens and security interests in
all of such New Rosehill Entities' collateral pursuant to a
security agreement, and (y) pledge all of the Equity Interests (as
defined in the Note Purchase Agreement) of the New Rosehill
Entities and to execute and deliver such other additional closing
documents, legal opinions and certificates as reasonably requested
by the Requisite Holders (as defined in the Note Purchase
Agreement), in each case as required pursuant to Section 8.14(b) of
the Note Purchase Agreement, which failure constituted an Event of
Default under Section 10.01(d) of the Note Purchase Agreement (the
"Identified Event of Default").

"On April 29, 2020, the New Rosehill Entities were dissolved
pursuant to their organizational documents and the Delaware Limited
Liability Company Act.

"On May 4, 2020, the Company entered into a forbearance agreement
(the "Forbearance Agreement") with the lenders under the Amended
and Restated Credit Agreement.  As a condition to the forbearance,
Rosehill Operating made a $20 million payment on the amounts
outstanding under the Amended and Restated Credit Agreement.  Under
the Forbearance Agreement, the periodic redetermination of the
borrowing base that was scheduled to occur on or about April 1,
2020, which the Company expected to result in a borrowing base
deficiency, was postponed throughout the forbearance period, and
the lenders agreed not to accelerate the amounts owed under the
Amended and Restated Credit Agreement as a result of certain
existing and anticipated Events of Default during the forbearance
period.  During the forbearance period, the lenders have no
obligation to make any further loans under the Amended and Restated
Credit Agreement.  In addition, the Forbearance Agreement requires
the Company to comply with certain other provisions, including that
within 25 days of entering into the Forbearance Agreement, the
Company and certain stakeholders agree in principle to a term sheet
for a restructuring transaction (or "Restructuring Term Sheet," as
defined in the Forbearance Agreement) and within 40 days of
entering into the Forbearance Agreement, the Company and those
certain stakeholders enter into a restructuring support agreement,
which shall provide for a restructuring under Chapter 11 of the
U.S. Bankruptcy Code.  The Forbearance Agreement will terminate on
July 3, 2020 unless terminated earlier under these provisions.  The
dates by which the Company and certain stakeholders were required
to agree in principle to the Restructuring Term Sheet and enter
into the RSA were subsequently extended pursuant to certain letter
agreements between the Company, Rosehill Operating and the lenders
under the Amended and Restated Credit Agreement.  As a condition to
such letter agreements, the Company and Rosehill Operating agreed
that all settlement payments and other net cash proceeds received
in respect of any swap agreement be applied to the prepayment of
Borrowings (as defined in the Amended and Restated Credit
Agreement) then outstanding under the Amended and Restated Credit
Agreement.

"On May 8 and 19, 2020, the Company received separate notices from
the agent under the Note Purchase Agreement, advising the Company
that the Identified Default and the Identified Event of Default had
matured into Events of Default (collectively, the "Identified
Events of Default") and that the holders reserved all of their
rights, powers, privileges and remedies under the Note Purchase
Agreement, and asserted a right to an additional 2% interest on the
amounts outstanding under the Note Purchase Agreement.

"The Company did not provide the lenders under the Amended and
Restated Credit Agreement and the Note Purchase Agreement with
unaudited financial statements and other required certificates and
operating reports within 45 days after March 31, 2020, which
constituted a default under the Amended and Restated Credit
Agreement and the Note Purchase Agreement.  The Amended and
Restated Credit Agreement and the Note Purchase Agreement each give
the Company a 30-day cure period before it becomes an event of
default under the respective agreement.  However, the Company was
unable to satisfy these requirements within the cure period.  As
such, this represents an event of default under the Amended and
Restated Credit Agreement and Note Purchase Agreement.

"Due to the matters noted above, debt outstanding under the Amended
and Restated Credit Agreement and the Second Lien Notes have been
reflected as current in the accompanying condensed consolidated
balance sheet as of March 31, 2020.

"On June 30, 2020, the Company entered into the RSA with the
stakeholders named therein, pursuant to which the Company expects
to file for protection under Chapter 11 of the Bankruptcy Code to
effect consummation of the Plan.  Please read Note 20 - Subsequent
Events for more details.

"These matters raise substantial doubt about the Company's ability
to continue as a going concern for a period of one year after the
date that these condensed consolidated financial statements are
issued."

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

                       https://is.gd/Ryjhpd

Rosehill Resources Inc., an independent oil and natural gas
company, focuses on the acquisition, exploration, development, and
production of unconventional oil and associated liquids-rich
natural gas reserves in the Permian Basin. The company was founded
in 2015 and is headquartered in Houston, Texas. Rosehill Resources
Inc. is a subsidiary of Tema Oil & Gas Company.


RTW RETAILWINDS: COVID-19 Impact Casts Going Concern Doubt
----------------------------------------------------------
RTW Retailwinds, Inc., filed with the U.S. Securities and Exchange
Commission its annual report on Form 10-K, disclosing a net loss of
$61,623,000 on $826,990,000 of net sales for the year ended Feb. 1,
2020, compared to a net income of $4,230,000 on $893,224,000 of net
sales for the year ended Feb. 2, 2019.

The Company said, "In March 2020, the COVID-19 outbreak in the
United States initially led to reduced store traffic and the
temporary reduction of operating hours for the Company's
brick-and-mortar stores.  As the impact of COVID-19 evolved, the
Company took decisive action to temporarily close all of the
Company's brick-and-mortar stores to ensure the health and safety
of its employees, customers, and communities.  As of the date of
this filing, in accordance with the federal and state guidelines
and the adoption of new health and safety recommendations resulting
from the COVID-19 pandemic, the Company began re-opening its
brick-and-mortar stores during the first week of June 2020.  The
Company cannot reasonably estimate the length or severity of
COVID-19.  The Company's revenues, results of operations, and cash
flows have been materially adversely impacted, and are expected to
be further materially adversely impacted, which raises substantial
doubt about the Company's ability to continue as a going concern.
The Company has already experienced substantial and recurring
losses from operations, and such losses have caused a retained
deficit of $164.6 million as of February 1, 2020.  As such, the
Company has been considering available options including
restructuring its obligations or seeking protection under the
bankruptcy laws in which case there will likely not be any value
distributed to its shareholders and its shares could be cancelled
for no consideration.  The Company believes that seeking protection
under the bankruptcy laws is probable."

The Company's balance sheet at Feb. 1, 2020, showed total assets of
$411,984,000, total liabilities of $396,027,000, and a total
stockholders' equity of $15,957,000.

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

                       https://is.gd/vEBaHf

RTW Retailwinds, Inc. operates as a specialty women's omni-channel
retailer with a multi-brand lifestyle platform in the United
States. The company was formerly known as New York & Company, Inc.
and changed its name to RTW Retailwinds, Inc. in November 2018.
RTW Retailwinds, Inc. was founded in 1918 and is headquartered in
New York.


RUBIE'S COSTUME: Finds Buyer; Sale Hearing Sept. 23
---------------------------------------------------
Daniel Gill, writing for Bloomberg Law, reports that bankrupt
Rubie's Costume Co. has found a buyer that will save most of its
employees’ jobs and allow significant recovery by its creditors.

The buyer, a "joint venture of a multi-billion dollar investment
fund and a strategic operator," will end up owning 70% of a new
company to be formed through the sale, according to a sale motion
filed Tuesday in the U.S. Bankruptcy Court for the Eastern District
of New York.  The other 30% of the new company will go to current
shareholders related or connected to Rubie's CEO Marc Beige.

Substantially all assets of Rubie's Costume are headed to the
auction block.  According to reporting by ToyBook, qualified bids
are being accepted through Sept. 16, with a sale hearing set to
take place on Sept. 23 before the Honorable Alan S. Trust, U.S.
Bankruptcy Judge.  

                      About Rubie's Costume

Rubie's Costume Company Inc. is a distributor, manufacturer and
designer of costume and party-related accessories that serve over
2,000 retail accounts. It also maintains licensing partnerships
with top studios like Nickelodeon, Warner Bros, Lucasfilm, Marvel,
and Disney for products inspired by WWE, Ghostbusters, Stranger
Things, DC Comics, JoJo Siwa, Harry Potter, and Star Wars.

Rubie's Costume Company and its affiliates sought Chapter 11
protection (Bankr. E.D.N.Y. Lead Case No. 20-71970) on April 30,
2020. Rubie's Costume was estimated to have $100 million to $500
million in assets and $50 million to $100 million in liabilities as
of the filing.

Judge Alan S. Trust oversees the cases.

Debtors have tapped Meyer, Suozzi, English & Klein, P.C. and Togut,
Segal & Segal LLP as bankruptcy counsel; BDO USA, LLP as
restructuring advisor; and SSG Capital Advisors LLC as investment
banker. Kurtzman Carson Consultants is the claims agent.

The Office of the U.S. Trustee appointed a committee of unsecured
creditors on May 18, 2020. The committee is represented by Arent
Fox, LLP.


SABLE PERMIAN: Seeks to Hire Jenner & Block as Special Counsel
--------------------------------------------------------------
Sable Permian Resources, LLC and affiliates seek approval from the
U.S. Bankruptcy Court for the Southern District of Texas to employ
Jenner & Block LLP as special counsel.

The firm will provide independent legal services at the sole
direction of Mohsin Meghji, Debtor's chief restructuring officer,
related to transactions involving Debtors and their stakeholders.

The firm's services will be provided mainly by Vincent Lazar, Esq.,
who will be paid at an hourly rate of $1,225.  Other professionals
will bill at the following hourly rates: $865 to $1,400 for
partners and counsel; $510 to $880 for associates, other attorneys,
and law clerks; and $230 to $400 for paralegals.

Mr. Lazar, a partner at Jenner & Block, disclosed in court filings
that the firm is a "disinterested person" as that term is defined
in Section 101(14) of the Bankruptcy Code.

Mr. Lazar also made the following disclosures in response to the
request for additional information set forth in Paragraph D.1 of
the Revised U.S. Trustee Guidelines.

     a. Question: Did Jenner agree to any variations from, or
alternatives to, Jenner's standard billing arrangements for this
engagement?

        Answer: No. Jenner and the Debtors have not agreed to any
variations from, or alternatives to, Jenner's standard billing
arrangements for this engagement. The rate structure provided by
Jenner is appropriate and is not significantly different from (a)
the rates that Jenner charges for other non-bankruptcy
representations or (b) the rates of other comparably skilled
professionals.

     b. Question: Do any of the Jenner professionals in this
engagement vary their rate based on the geographic location of the
Debtors' chapter 11 cases?

     c. Question: If Jenner has represented the Debtors in the 12
months prepetition, disclose Jenner's billing rates and material
financial terms for the prepetition engagement, including any
adjustments during the 12 months prepetition. If Jenner's billing
rates and material financial terms have changed postpetition,
explain the difference and the reasons for the difference.

        Answer: Jenner did not represent the Debtors in the 12
months prepetition.

     d. Question: Have the Debtors approved Jenner's budget and
staffing plan, and, if so, for what budget period?

        Answer: Yes, for the period from and including August 14,
2020 to and including October 31, 2020.

        Answer: No. The hourly rates used by Jenner in representing
the Debtors are consistent with the rates that Jenner charges other
comparable chapter 11 clients, regardless of the location of the
chapter 11 case.

Jenner & Block can be reached through:

     Vincent E. Lazar, Esq.
     Jenner & Block LLP
     353 N. Clark Street
     Chicago, IL 60654
     Telephone: (312) 923-2989
     Email: vlazar@jenner.com

                   About Sable Permian Resources

Sable Permian Resources, LLC and its affiliates sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Lead Case
No. 20-33193) on June 25, 2020. At the time of the filing, Sable
Permian Resources disclosed assets of between $1 billion and $10
billion and liabilities of the same range. Judge Marvin Isgur
oversees the cases.  

Debtors have tapped Latham & Watkins, LLP and Hunton Andrews Kurth
LLP as legal counsel, Alvarez & Marsal North America LLC as
financial advisor, Evercore Group LLC as investment banker, and
M-III Advisory Partners, LP as financial advisor.  Mohsin Y. Meghji
of M-III Advisory Partners is Debtors' chief restructuring
officer.

The Office of the U.S. Trustee appointed a committee of unsecured
creditors on July 17, 2020. The committee has tapped Paul Hastings
LLP and Mani Little & Wortmann, PLLC as its legal counsel, Conway
MacKenzie LLC as financial advisor, and Miller Buckfire & Co. LLC
and Stifel, Nicolaus & Co. Inc. as investment banker.


SAEXPLORATION HOLDINGS: Taps Winter Harbor as Financial Advisor
---------------------------------------------------------------
SAExploration Holdings, Inc. and affiliates seek approval from the
U.S. Bankruptcy Court for the Southern District of Texas to hire
Winter Harbor LLC as their financial advisor.

Winter Harbor will provide the following services in connection
with Debtors' Chapter 11 cases:

     a. assist management and Debtors' legal counsel in the
preparation of "first day motions" and supporting data;

     b. prepare all required bankruptcy statements and schedules;

     c. compile and format data and analyses necessary to meet the
financial reporting requirements mandated by the Bankruptcy Code
and the U.S. Trustee's office; and

     d. provide other services as requested by the Debtors.

The hourly rates charged by the firm's professionals anticipated to
be assigned to the cases are as follows:

     Managing Partner                  $695
     Managing Director                 $595
     Senior Director                   $525
     Director                          $495
     Senior Manager                    $425
     Manager                           $395
     Associate                         $295
     Clerical/Administrative           $125

Shaun Martin, Esq., a member and managing partner at Winter Harbor,
disclosed in court filings that the firm is a "disinterested
person" as that term is defined in Section 101(14) of the
Bankruptcy Code.

Winter Harbor can be reached through:

     Shaun Martin
     Winter Harbor, LLC
     265 Franklin Street, 10th Floor
     Boston, MA 02110
     Telephone: (617) 275-5411
     Email: smartin@winterharborco.com

                   About SAExploration Holdings Inc.

Based in Houston, Texas, SAExploration Holdings, Inc. and
affiliates are full-service global providers of seismic data
acquisition, logistical support and processing services to their
customers in the oil and natural gas industry that operate through
wholly-owned subsidiaries, branch offices and variable interest
entities in North America, South America, Asia Pacific, West Africa
and the Middle East.  For more information, visit
https://saexploration.com.

SAExploration Holdings, Inc. and affiliates sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Lead Case No.
20-34306) on August 27, 2020.  The petitions were signed by Michael
Faust, chairman, chief executive officer, and president.

At the time of the filing, Debtors had estimated assets of between
$1 million to $10 million and liabilities of between $100 million
to $500 million.

Judge Marvin Isgur oversees the case.

Debtors have tapped Porter H Edges LLP as their bankruptcy counsel,
Imperial Capital, LLC and Winter Harbor LLC as financial advisors,
and Epiq Corporate Restructuring, LLC as claims, noticing,
solicitation and administrative agent.


SCWORX CORP: Operating Losses Cast Substantial Going Concern Doubt
------------------------------------------------------------------
SCWorx Corp. filed its quarterly report on Form 10-Q, disclosing a
net loss of $1,149,651 on $1,123,827 of revenue for the three
months ended March 31, 2020, compared to a net loss of $5,714,709
on $1,248,104 of revenue for the same period in 2019.

At March 31, 2020, the Company had total assets of $9,850,603,
total liabilities of $3,707,042, and $6,143,561 in total
stockholders' equity.

The Company said, "As of March 31, 2020, we had a working capital
deficit of $2,521,580 and accumulated deficit of $13,944,124.
During the three months ended March 31, 2020, we had a net loss of
$1,149,651 and used $286,861 of cash in operations.  We have
historically incurred operating losses and may continue to incur
operating losses for the foreseeable future.  We believe that these
conditions raise substantial doubt about our ability to continue as
a going concern.  This may hinder our future ability to obtain
financing or may force us to obtain financing on less favorable
terms than would otherwise be available.  If we are unable to
develop sufficient revenues and additional customers for our
products and services, we may not generate enough revenue to
sustain our business, and we may fail, in which case our
stockholders would suffer a total loss of their investment.  There
can be no assurance that we will be able to continue as a going
concern."


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

                       https://is.gd/QOM5IV

SCWorx Corp. is a provider of data content and services related to
the repair, normalization and interoperability of information for
healthcare providers, as well as big data analytics for the
healthcare industry.  The Company is based in New York.


SENTINL INC: Gets Approval to Hire Rabbaig and Haque as Accountant
------------------------------------------------------------------
Sentinl, Inc. received approval from the U.S. Bankruptcy Court for
the Eastern District of Michigan to hire Rabbaig and Haque, PLLC as
its accountant.

The firm's services will include the preparation of 2019 tax
returns, monthly reporting reports, cash flow projections and other
services necessary to prepare Debtor's Chapter 11 liquidating
plan.

The services will be provided mainly by Maseer Rabbaig, a certified
public accountant, who will receive a monthly fee of $450.  Mr.
Rabbaig's present hourly rates range from $100 to $250.

Mr. Rabbaig disclosed in court filings that he and the other
professionals employed by Rabbaig and Haque are "disinterested
persons" as that term is defined in Section 101(14) of the
Bankruptcy Code.

Mr. Rabbaig holds office at:

     Maseer Rabbaig, CPA
     Rabbaig and Haque, PLLC
     1905 S. Haggerty Road
     Canton, MI 48188

                         About Sentinl Inc.

Sentinl Inc. sought protection for relief under Chapter 11 of the
Bankruptcy Code (Bankr. E.D. Mich. Case No. 20-48110) on July 7,
2020, listing under $1 million in both assets and liabilities.
Debtor has tapped Maxwell Dunn, PLC as its legal counsel and
Rabbaig and Haque, PLLC as its accountant.


SHIFTPIXY INC: Reports $73.2-Mil. Net Loss for the May 31 Quarter
-----------------------------------------------------------------
ShiftPixy, Inc., filed its quarterly report on Form 10-Q,
disclosing a net loss of $73,178,000 on $2,014,000 of revenues for
the three months ended May 31, 2020, compared to a net loss of
$4,996,000 on $1,638,000 of revenues for the same period in 2019.

At May 31, 2020, the Company had total assets of $27,508,000, total
liabilities of $21,017,000, and $6,491,000 in total stockholders'
equity.

As of May 31, 2020, the Company had cash of $10.8 million and a
working capital surplus of $3.4 million.  During the nine months
ended May 31, 2020, the Company used approximately $10.6 million of
cash from its continuing operations and repaid $1.2 million of
convertible notes, after receiving $9.5 million of cash from the
Asset Sale, and closed an underwritten public offering and
receiving $10.3 million, net of offering costs.  The Company has
incurred recurring losses resulting in an accumulated deficit of
$111.2 million as of May 31, 2020.

The Company said that the recurring losses and cash used in
operations raise substantial doubt as to its ability to continue as
going concern within one year from issuance date of the financial
statements.

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

                       https://is.gd/C2Ff05

ShiftPixy, Inc. provides employment services for businesses; and
workers in shift or other part-time/temporary positions in the
United States. The company also operates as a payroll processor,
human resources consultant, and administrator of workers'
compensation coverages and claims. It primarily serves restaurant,
hospitality, and maintenance service industries. The company was
founded in 2015 and is headquartered in Irvine, California.


SM ENERGY: Submits for Recordation a Second Lien Deed of Trust
--------------------------------------------------------------
Pursuant to Section 14.02(a) of the Indenture, dated as of June 17,
2020, by and between SM Energy Company, a Delaware corporation, and
UMB Bank, N.A., the Company filed a current report on Form 8-K with
the Securities and Exchange Commission to confirm the submission
for recordation and filing by the Company in each appropriate
county clerk's office during the period from Sept. 11, 2020 to
Sept. 14, 2020, of a Second Lien Deed of Trust, Assignment,
Security Agreement, Fixture Filing and Financing Statement from the
Company for the benefit of the Trustee, to secure the Company's
obligations under its 10.00% Senior Secured Notes due 2025.

                        About SM Energy

SM Energy Company is an independent energy company engaged in the
acquisition, exploration, development, and production of crude oil,
natural gas, and natural gas liquids in the state of Texas.

SM Energy recorded a net loss of $187 million for the year ended
Dec. 31, 2019.  As of June 30, 2020, the Company had $5.27 billion
in total assets, $307.90 million in total current liabilities,
$2.68 billion in total noncurrent liabilities, and $2.28 billion in
total stockholders' equity.

                          *     *     *

As reported by the TCR on June 26, 2020, S&P Global Ratings raised
its issuer credit rating on U.S.-based oil and gas exploration and
production (E&P) company SM Energy Co. to 'CCC+' from 'SD'
(selective default).

As reported by the TCR on May 5, 2020, Moody's Investors Service
downgraded SM Energy Company's Corporate Family Rating to Caa1 from
B3.  The downgrade reflects the company's intention to issue new
secured debt to exchange for up to $1,681 million of its senior
unsecured notes at a 35% to 50% discount to par, a transaction
Moody's views as a distressed exchange and thus, a default.

Also in May 2020, Fitch Ratings downgraded SM Energy Company's
Issuer Default Rating to 'C' from 'B-' following the company's
announcement of an offer to exchange a series of senior secured
notes for new second lien notes.


SOCAL ADDICTION: Case Summary & 9 Unsecured Creditors
-----------------------------------------------------
Debtor: SoCal Addiction & Treatment Company, LLC
        770 SE Indian Street
        Stuart, FL 34997

Business Description: The Debtor operates in the health care
                      industry.

Chapter 11 Petition Date: September 17, 2020

Court: United States Bankruptcy Court
       Southern District of Florida

Case No.: 20-20029

Judge: Hon. Erik P. Kimball

Debtor's Counsel: Bradley S. Shraiberg, Esq.
                  SHRAIBERG LANDAU & PAGE PA
                  2385 NW Executive Center Dr
                  Suite 300
                  Boca Raton, FL 33431
                  Tel: 561 443 0800
                  Email: bss@slp.law

Estimated Assets: $0 to $50,000

Estimated Liabilities: $50 million to $100 million

The petition was signed by Paul Kamps, CFO.

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

https://www.pacermonitor.com/view/DDMYPUA/SoCal_Addiction__Treatment_Company__flsbke-20-20029__0001.0.pdf?mcid=tGE4TAMA

An order has been entered jointly administering the Debtor's
Chapter 11 case into the Lead Case of TM Healthcare Holdings, LLC
(Bankr. S.D. Fla. Case No. 20-20024).


STEVEN DEPASQUALE: Kowaski Offers $310K for West Warwick Property
-----------------------------------------------------------------
Steven W. DePasquale filed with the U.S. Bankruptcy Court for the
District of Rhode Island a notice of his proposed sale of the real
property located at 57 Wendy Way, Plat 11, Lot 217, West Warwick,
Rhode Island to Andrew Kowalski or nominee for $310,000.

The sale will be free and clear of all liens.  All mortgages, liens
and other encumbrances will attach to the proceeds of the sale.

At said closing, customary costs of closing will be paid in order
to pass good and marketable title to the purchaser.  In addition,
any statutory trustee's fees will be withheld from the proceeds of
said sale.

The amount to be paid for said real estate may not be enough to pay
all liens in full and said liens will be paid in the order of their
recordation or priority.

The Debtor will entertain any higher bids for the purchase of the
asset of which he proposes to sell.  Such bids must be in writing
and accompanied by a deposit of 5% of the proposed higher purchase
price.  Any higher bid must be received by the Debtor no later than
4:30 p.m. at least 20 days from the filing of the Notice.  The
private sale will be consummated as proposed in the Notice no later
than 4:30 p.m. at least 20 days from the filing of the Notice if no
objections and/or higher bids are received.

Objections, if any, must be filed no later than 4:30 p.m. at least
20 days from the filing of the Notice.

A copy of the Contract is available at https://tinyurl.com/y4e5rczw
from PacerMonitor.com free of charge.

The case is In re Steven W. DePasquale, (Bankr. D.R.I. Case No.
19-10189).


SUGAR FACTORY: Miami SF Buying Assets for $400K
-----------------------------------------------
Sugar Factory Lincoln Road, LLC, and Sugar Factory Ocean Drive,
LLC, ask the U.S. Bankruptcy Court for the Southern District of
Florida to authorize their Asset Purchase Agreement with Miami SF
555, LLC in connection with the sale of (i) unexpired, valid and
recognized Sugar Factory license agreements and operating licenses,
and (ii) LR's Liquor License, for $400,000, plus the assumption of
the remaining debt under the LR Liquor License after the Closing
Date.

Both Sugar Factory cafes operated under license from Sugar Factory,
LLC ("Licensor"), a Nevada limited liability company that licenses
owner-operators around the country and internationally to use the
"Sugar Factory" brand and trademark and enjoy the benefits of a
national and international advertising and marketing platform as
governed by respective license agreements.

Both Debtors were approved and licensed by the Licensor in January
2014, and both Debtors hold the SF Licenses.  Both Debtors also
hold alcoholic beverage licenses issued by the State of Florida
Department of Business and Professional Regulation, Division of
Alcoholic Beverages and Tobacco.

Prior to filing their respective voluntary Chapter 11 petitions,
the Debtors had procured an unrelated third-party purchaser for the
SF Licenses.  As described in the signed APA effective Aug. 28,
2020, the Purchaser is prepared to purchase the SF Licenses from
both Debtors, as well as LR's Liquor License from LR, for a total
price of $400,000, to be split equally between the Debtors, plus
the assumption of the remaining debt under the LR Liquor License
after the Closing Date.  The Purchaser has placed a 20% deposit
($80,000) into escrow with its attorney, with $40,000 attributed to
each Debtor.

The Purchaser or its principal(s) are current license holders of
other Sugar Factory licenses in other jurisdictions and wish to
establish a presence in the South Florida market through the
purchase of the Sale Assets.  It has previously performed under its
other Sugar Factory licenses and has been vetted and approved by
the Licensor to acquire the SF Licenses from both Debtors.

By the Motion, the Debtors ask an Order: (a) approving their
assumption of their respective License Agreements with Sugar
Factory, LLC; (b) approving LR's assumption of the LR Liquor
License; (c) approving the APA for the sale and assignment of the
License Agreements and the LR Liquor License to the Purchaser; (d)
authorizing their sale and assignment of the License Agreements to
the Purchaser free and clear of all liens, claims, encumbrances and
other interests; (e) authorizing the sale and assignment of the LR
Liquor License to the Purchaser free and clear of all liens,
claims, encumbrances and other interests, except for the loan
between LR and Louis J. Terminello, Trustee, dated Feb. 27, 2015 in
the principal amount of $145,000 ("LR Loan"), which will be assumed
by the Purchaser with the written consent of the LR Lender; and,
(f) affording the Purchaser the protections of a good faith
purchaser granted by 11 U.S.C. Section 363(m).

The proposed sale of the Sale Assets pursuant to the APA is a
fundamental component of the Debtors' plans to exit Chapter 11
through a liquidating plan(s), and although such plan(s) has not
yet been filed, the proposed Sale Transaction will help to satisfy
a significant portion of their respective outstanding debts.

A copy of the Agreement is available at
https://tinyurl.com/y684tfwz from PacerMonitor.com free of charge.


                About Sugar Factory Lincoln Road and
                     Sugar Factory Ocean Drive

Sugar Factory Lincoln Road, LLC and Sugar Factory Ocean Drive, LLC
filed their voluntary petitions under Chapter 11 of the Bankruptcy
Code (Bankr. S.D. Fla. Lead Case No. 20-17980) on July 22, 2020. At
the time of the filing, Debtors disclosed assets of between
$1,000,001 and $10 million and liabilities of the same range.
Judge Laurel M. Isicoff oversees the cases.  Aaronson Schantz
Beiley P.A. is Debtors' legal counsel.


SUSTAINABLE RESTAURANT: Taps Omni as Administrative Agent
---------------------------------------------------------
Sustainable Restaurant Holdings, Inc. and affiliates seek approval
from the U.S. Bankruptcy Court for the District of Delaware to hire
Omni Agent Solutions as their administrative agent.

The firm will provide the following services in connection with
Debtors' Chapter 11 cases:

     a. assist with the filing of Debtors' schedules of assets and
liabilities and statements of financial affairs;

     b. assist in the solicitation, balloting, tabulation and
calculation of votes, and the preparation of reports in furtherance
of confirmation of any Chapter 11 plan;

     c. prepare an official ballot certification and testify in
support of the ballot tabulation results for any Chapter 11 plan;

     d. manage any distributions pursuant to any confirmed Chapter
11 plan;

     e. provide such other claims processing, noticing,
solicitation, balloting and administrative services.

The hourly rates for Omni Agent's professionals are as follows:

     Analyst                                 $35 - $50
     Consultants                             $65 - $160
     Senior Consultants                     $165 - $200
     Solicitation and Securities Services          $205
     Technology/Programming                  $85 - $135

Omni Agent received the sum of $20,000 as a retainer before the
petition date.

Paul Deutch, the executive vice president of Omni Agent, disclosed
in court filings that the firm is a "disinterested person" as that
term is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Brian K. Osborne
     Paul H. Deutch
     Omni Agent Solutions, Inc.
     5955 De Soto Avenue, Suite 100
     Woodland Hills, CA 91367
     Telephone: (818) 906-8300
     Email: bosborne@omniagnt.com
            paul@omniagnt.com

              About Sustainable Restaurant Holdings

Sustainable Restaurant Holdings, Inc. was founded in 2008 together
with the launch of Bamboo Sushi, which is regarded as the world's
first sustainable sushi chain.  It added quick-service poke chain
QuickFish in 2016 and expanded in California by opening the San
Ramon location in 2019. It also has big plans of building two more
Bay Area restaurants, that include a waterfront Bamboo Sushi on San
Francisco's Embarcadero.

Sustainable Restaurant Holdings and its affiliates maintain 10
restaurants in Oregon, Washington, Arizona, California and
Colorado, and operates under the "Bamboo Sushi" and "Quickfish"
brand names.  Visit https://sustainablerestaurantgroup.com for more
information.

On May 12, 2020, Sustainable Restaurant Holdings and its affiliates
sought Chapter 11 protection (Bankr. D. Del. Lead Case No.
20-11087).  Sustainable Restaurant was estimated to have $10
million to $50 million in assets and $1 million to $10 million in
liabilities as of the bankruptcy filing.

Debtors have tapped Klehr Harrison Harvey Branzburg LLP as legal
counsel,  SSG Advisors LLC as investment banker, and Getzler
Henrich & Associates LLC as restructuring advisor. Omni Agent
Solutions is the claims and administrative agent.


TAILORED BRANDS: Jos A. Bank to Close Lincoln, NE Location
----------------------------------------------------------
Matt Olberding, writing for Journal Star, reports that Tailored
Brands, which owns Men's Wearhouse and Jos. A. Bank among other
brands, filed for Chapter 11 bankruptcy protection and  said it
plans to close hundreds of stores as part of its reorganization
plan.

According to bankruptcy documents, the closures would include the
Jos. A. Bank store in Lincoln at 6005 O St.  A Men's Wearhouse
location at 5141 O St. would remain open for now.

Jos. A. Bank was one of the original tenants at the District at O
Street, the retail development that was built in concert with the
new Lincoln Public Schools headquarters building at 60th and O
streets. It opened in the fall of 2013.

Tailored Brands joins a number of other retailers that have filed
bankruptcy this year.  Ascena Retail Group earlier filed bankruptcy
and announced hundreds of store closings, including Catherines,
Lane Bryant and Justice locations in Lincoln.

Dozens of retailers, big and small, have filed for Chapter 11
protection this year. The pace through the first half of 2020 far
exceeds the number of retail bankruptcies for all of last year.
About two dozen stores have sought bankruptcy protection since the
pandemic started.

Other retailers that have closed Lincoln locations this year
include Gordmans and Pier 1.

                      About Tailored Brands

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

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

On Aug. 2, 2020, Tailored Brands and its subsidiaries sought
Chapter 11 protection (Bankr. S.D. Tex. Lead Case No. 20-33900) on
Aug. 2, 2020.  As of July 4, 2020, Tailored Brands disclosed
$2,482,124,043 in total assets and $2,839,642,691 in total
liabilities.

The Hon. Marvin Isgur is the case judge.

The Debtors tapped Kirkland & Ellis LLP as general bankruptcy
counsel; Jackson Walker L.L.P., Stikeman Elliot LLP and Mourant
Ozannes as co-bankruptcy counsel; PJT Partners LP as financial
advisor; Alixpartners, LLP as restructuring advisor; and A&G Realty
Partners, LLC as the real estate consultant and advisor.  Prime
Clerk LLC is the claims agent.


TAKATA USA: SynTec Sold to IMMI for Undisclosed Price
-----------------------------------------------------
Ryan Gray, writing for STN Online, reports that IMMI announced it
has acquired school bus seating and occupant restraint systems
manufacturer SynTec Seating Solutions from Joyson Safety Systems.
Financial terms were not disclosed.

IMMI President Tom Anthony said the deal marks the beginning of "an
exciting new chapter" for the company based in Westfield, Indiana.
It manufactures the SafeGuard brand of school bus seating and
occupant restraint systems as well as similar products for
ambulances, commercial trucks, fire trucks, off-road, and passenger
vehicles.

"Our team has worked hard to design the safest, highest quality
seat on the market to protect our children," Anthony added in a
statement. "This acquisition helps to get us one step closer to the
day that every child on every school bus will have a lap-shoulder
belt when they’re traveling on our highways."

SynTec seating and seatbelts are manufactured for Thomas Built
Buses, while IMMI partners with IC Buses to offer the SafeGuard
brand. IMMI recently announced it opened a new manufacturing plant
located adjacent to the IC Bus plant in Tulsa, Oklahoma.

IMMI now also manufactures SynTec's current product line out of the
North Carolina plant. A company representative confirmed to School
Transportation News that all SynTec employees are eligible to
become IMMI employees, and effective on July 30, 3030, Friday, the
SynTec name will begin transitioning to IMMI SafeGuard.

IMMI CEO Larry Gray added that he expects a "smooth transition" as
the company integrates the two brands. Meanwhile, Chad Blankenship,
SynTec's general manager, said that shared values between the two
teams should result in products and customer service "at a greater
scale."

The employees at SynTec are now with their third company in less
than a decade.

Takata USA, a division of Takata Corporation based in Japan,
acquired SynTec when it took over M2K LLC in 2012. But within two
years, the National Highway Traffic Safety Administration ordered
Takata to recall all airbag systems across the U.S. because they
could explode when deployed, causing serious injury or death in the
process.

Takata recalled over 70 million vehicles nationwide. It is
considered the largest recall in U.S. history. Federal regulators
in 2015 fined the company $200 million. A federal grand jury
indicted Takata executives Shinichi Tanaka, Hideo Nakajima and
Tsuneo Chikaraishi in December 2016, and a month later federal
prosecutors charged the men with fabricating test data to hide
defects. The company also agreed to plead guilty to wire fraud
charges and pay a fine of $1 billion.

As a result, Takata was forced to declare chapter 11 bankruptcy and
dissolve in June 2017. Key Safety Systems, a Chinese-owned company
headquartered in Michigan, bought all Takata assets including
SynTec for $1.6 billion. The company was renamed Joyson Safety
Systems, which continues to manufacture airbags, driver systems and
seatbelts.

                        About TAKATA USA

Japan-based Takata Corporation (TYO:7312) --
http://www.takata.com/en/-- develops, manufactures and sells
safety products for automobiles. The Company offers seatbelts,
airbags, steering wheels, child seats and trim parts. Headquartered
in Tokyo, Japan, Takata operates 56 plants in 20 countries with
approximately 46,000 global employees worldwide. The Company has
subsidiaries located in Japan, the United States, Brazil, Germany,
Thailand, Philippines, Romania, Singapore, Korea,
China and other countries.

Takata Corp. filed for bankruptcy protection in Tokyo and the U.S.,
amid recall costs and lawsuits over its defective airbags. Takata
and its Japanese subsidiaries commenced proceedings under the Civil
Rehabilitation Act in Japan in the Tokyo District Court on June 25,
2017.

Takata's main U.S. subsidiary TK Holdings Inc. and 11 of its U.S.
and Mexican affiliates each filed voluntary petitions under Chapter
11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No.
17-11375) on June 25, 2017. Together with the bankruptcy filings,
Takata announced it has reached a deal to sell all its global
assets and operations to Key Safety Systems (KSS) for US$1.588
billion.

Nagashima Ohno & Tsunematsu is Takata's counsel in the Japanese
proceedings. Weil, Gotshal & Manges LLP and Richards, Layton &
Finger, P.A., are serving as counsel in the U.S. cases.

PricewaterhouseCoopers is serving as financial advisor, and Lazard
is serving as investment banker to Takata. Ernst & Young LLP is tax
advisor. Prime Clerk is the claims and noticing agent. The Debtors
Meunier Carlin & Curfman LLC, as special intellectual property
counsel.

Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal
counsel, KPMG is serving as financial advisor, Jefferies LLC is
acting as lead financial advisor. UBS Investment Bank also provides
financial advice to KSS.

On June 28, 2017, TK Holdings, as the foreign representative of the
Chapter 11 Debtors, obtained an order of the Ontario Superior Court
of Justice (Commercial List) granting, among other things, a stay
of proceedings against the Chapter 11 Debtors pursuant to Part IV
of the Companies' Creditors Arrangement Act. The Canadian Court
appointed FTI Consulting Canada Inc. as information officer. TK
Holdings, as the foreign representative, is represented by McCarthy
Tetrault LLP.

The U.S. Trustee has appointed an Official Committee of Unsecured
Trade Creditors and a separate Official Committee of Tort
Claimants.

The Official Committee of Unsecured Creditors has selected
Christopher M. Samis, Esq., L. Katherine Good, Esq., and Kevin F.
Shaw, Esq., at Whiteford, Taylor & Preston LLC, in Wilmington,
Delaware; Dennis F. Dunne, Esq., Abhilash M. Raval, Esq., and Tyson
Lomazow, Esq., at Milbank Tweed Hadley & McCloy LLP, in New York;
and Andrew M. Leblanc, Esq., at Milbank, Tweed, Hadley & McCloy
LLP, in Washington, D.C., as its bankruptcy counsel. The Committee
has also tapped Chuo Sogo Law Office PC as Japan counsel.

The Official Committee of Tort Claimants selected Pachulski Stang
Ziehl & Jones LLP as counsel.  Gilbert LLP will evaluate of the
insurance policies. Sakura Kyodo Law Offices will serve as special
counsel.

Roger Frankel, the legal representative for future personal injury
claimants of TK Holdings Inc., et al., tapped Frankel Wyron LLP and
Ashby & Geddes PA to serve as co-counsel.

Takata Corporation ("TKJP") and affiliates Takata Kyushu
Corporation and Takata Services Corporation commenced Chapter 15
cases (Bankr. D. Del. Case Nos. 17-11713 to 17-11715) on Aug. 9,
2017, to seek U.S. recognition of the civil rehabilitation
proceedings in Japan. The Hon. Brendan Linehan Shannon oversees the
Chapter 15 cases.  Young, Conaway, Stargatt & Taylor, LLP, serves
as Takata's counsel in the Chapter 15 cases.

                          *     *     *

In February 2018, the U.S. Bankruptcy Court confirmed the Fifth
Amended Chapter 11 Plan of Reorganization filed by TK Holdings,
Inc. ("TKH"), Takata's main U.S. subsidiary, and certain of TKH's
subsidiaries and affiliates.





TAYLOR BUILDING: Adjudication of $6.5K Sale of Forklift Transferred
-------------------------------------------------------------------
Judge Jeffery A. Deller of the U.S. Bankruptcy Court for the
Western District of Pennsylvania transferred adjudication of Taylor
Building Products, LLC's private sale of its Genie GTH-844
Telehandler Forklift, Serial Number 10596, to American Roofing,
Inc. for $6,500, to Judge Thomas P. Agresti.

The Motion is currently scheduled for hearing on Sept. 30, 2020, at
tcjad Telephone Conference - Deller.  A separate Order will be
issued regarding the date, time and location of the rescheduled
hearing.

The Forklift is property of the estate.  Management advises that
the Forklift is no longer used in the day-to-day operations of the
business.  The Forklift has an approximate fair market value
between $6,000 and $7,000 in light of the need for repairs to
return the Forklift to its intended operational functionality.  

The Debtor's investigation into the matter reveals that the
following party has a lien against the Forklift: (i) S&T Bank
(UCC-1 Financing Statement); (ii) Corporation Service Company, as
Representative (UCC-1 Financing Statement); (iii) Orgill, Inc.
(UCC-1 Financing Statement); and (iv) Funding Metrics, LLC (UCC-1
Financing Statement).

The sale is a private sale.  The sale is in "as is, where is"
condition, without representations or warranties of any kind
whatsoever, including but not limited to implied warranties of
merchantability and/or fitness for a particular purpose, and free
and clear of all third party interests, liens, claims, charges
and/or encumbrances.

The Purchaser:

           AMERICAN ROOFING, INC.
           3713 14th Avenue
           Altoona, PA 16600

                About Taylor Building Products

Taylor Building Products LLC, a privately held company that
provides concrete building products, sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. W.D. Pa. Case No.
19-70426) on July 15, 2019.  At the time of the filing, the Debtor
was estimated to have assets of between $1 million and $10 million
and liabilities of the same range.  Judge Jeffery A. Deller
oversees the case.  Spence, Custer, Saylor, Wolfe & Rose, LLC is
the Debtor's bankruptcy counsel.


TM HEALTHCARE: Case Summary & 13 Unsecured Creditors
----------------------------------------------------
Debtor: TM Healthcare Holdings, LLC
        770 SE Indian Street
        Stuart, FL 34997

Business Description: TM Healthcare Holdings, LLC is a privately
                      held company in the health care business.

Chapter 11 Petition Date: September 17, 2020

Court: United States Bankruptcy Court
       Southern District of Florida

Case No.: 20-20024

Judge: Hon. Erik P. Kimball

Debtor's Counsel: Bradley S. Shraiberg, Esq.
                  SHRAIBERG LANDAU & PAGE PA
                  2385 NW Executive Center Dr
                  Suite 300
                  Boca Raton, FL 33431
                  Tel: 561-443-0800
                  E-mail: bss@slp.law
             
Estimated Assets: $0 to $50,000

Estimated Liabilities: $50 million to $100 million

The petition was signed by Paul Kamps, CFO.

A copy of the petition containing, among other items, a list of the
Debtor's 13 unsecured creditors is available for free at
PacerMonitor.com at:

https://www.pacermonitor.com/view/K6VZUEA/TM_Healthcare_Holdings_LLC__flsbke-20-20024__0001.0.pdf?mcid=tGE4TAMA


TODD BRENT STEPHENSON: $12K Sale of Trailer to Ebbert Approved
--------------------------------------------------------------
Judge James M. Carr of the U.S. Bankruptcy Court for the Southern
District of Indiana authorized Todd Brent Stephenson and Christina
Diane Stephenson's sale of their 2011 gooseneck Adams
livestock/show trailer 7'x 27' with a 10-pen system in the 24'
livestock area with a rubber floor coating, ramp in the rear of
trailer and a 3' tack room, to Justin Ebbert for $12,000.

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

Counsel for Debtors:

          Ben T. Caughey, Esq.
          MERCHO CAUGHEY
          828 East 64th Street
          Indianapolis, IN 46220
          Telephone: (317) 722-0607
          Facsimile: (877) 797-9648
          E-mail: ben.caughey@merchocaughey.com

Todd Brent Stephenson and Christina Diane Stephenson sought Chapter
11 protection (Bankr. S.D. Ind. Case No. 18-05254) on July 11,
2018.  The Debtors tapped Ben T. Caughey, Esq., at Mercho Caughey
as counsel.


TRANSOCEAN LTD: Disputes PIMCO, Whitebox Notice of Default
----------------------------------------------------------
Transocean Ltd. filed on Sept. 8, 2020, a current Report on Form
8-K in connection with a lawsuit filed against, and a notice of an
alleged default delivered to, Transocean Inc. and Transocean Ltd.
relating to Transocean's previously announced internal
reorganization and exchange offers.

In connection with the lawsuit, on September 3, 2020, Transocean,
as defendant, and funds managed by, or affiliated with, Whitebox
Advisors LLC, as plaintiffs, presented its arguments to the United
States District Court for the Southern District of New York (the
"Court") regarding a request for a temporary restraining order and
preliminary injunction (the "TRO and Injunction") relating to the
Exchange Offers. At the conclusion of the hearing, the Court
promptly denied the TRO and Injunction request.  In addition, on
September 7, 2020, Transocean responded to the notice of alleged
default demanding that it be withdrawn.

Notice of Default

On September 2, 2020, funds managed by, or affiliated with, Pacific
Investment Management Company LLC ("PIMCO") and Whitebox, who
together hold 25.1% in aggregate principal amount of Existing 2027
Guaranteed Notes, delivered a notice of default and conditional
declaration of acceleration (the "Notice") to Transocean Inc.
alleging a breach of the indenture (the "2027 Notes Indenture")
governing Transocean Inc.'s 8.00% Senior Notes due 2027 ("Existing
2027 Guaranteed Notes"). The Notice alleges a default occurred
following Transocean's previously announced internal
reorganization, which included the formation of Transocean Mid
Holdings 1 Limited ("Mid Holdings 1"), Transocean Mid Holdings 2
Limited ("Mid Holdings 2") and Transocean Mid Holdings 3 Limited
("Mid Holdings 3", and collectively with Mid Holdings 1 and Mid
Holdings 2, the "Structurally Senior Guarantors"). PIMCO and
Whitebox allege that the Structurally Senior Guarantors should
have, but did not, guarantee the Existing 2027 Guaranteed Notes. In
addition, counsel to PIMCO and Whitebox indicated that a similar
notice, based on the same alleged default, may be delivered with
respect to Transocean Inc.'s 7.50% Senior Notes due 2025 (the
"Existing 2025 Guaranteed Notes"). Transocean has not received any
such notice with respect to the Existing 2025 Guaranteed Notes as
of the time of the filing of this Current Report on Form 8-K.

Transocean strongly disagrees with the assertion made by PIMCO and
Whitebox in the Notice and, on September 7, 2020, Transocean
delivered a response to PIMCO and Whitebox demanding a withdrawal
of the Notice. Transocean maintains that the internal
reorganization and Exchange Offers comply with the terms of its
existing indentures (including the 2027 Notes Indenture) and that
the Structurally Senior Guarantors are not required to, and will
not, guarantee any of Transocean's existing notes (including the
Existing 2027 Guaranteed Notes). Transocean believes the allegation
is meritless and will continue to defend itself vigorously against
such claim and any related future claims to ensure that any such
wrongful notices do not result in an improper event of default or
acceleration.

As of June 30, 2020, $750 million aggregate principal amount of
Existing 2025 Guaranteed Notes and $750 million aggregate principal
amount of Existing 2027 Guaranteed Notes were outstanding. As of
11:59 p.m., New York City time, on September 4, 2020, approximately
$210 million or 28% of the Existing 2025 Guaranteed Notes and
approximately $149 million or 20% of the Existing 2027 Guaranteed
Notes had been tendered in the Exchange Offers, which would no
longer be outstanding if purchased in the Exchange Offers.

If it is ultimately determined that a default exists under the 2027
Notes Indenture and that the Notice was properly provided by such
holders, following a 90-day grace period, upon a valid declaration
of acceleration by at least 25% of the then outstanding aggregate
principal amount of the 2027 Notes, all unpaid principal, interest
and other obligations under the 2027 Notes Indenture would be due
and payable unless holders waived such acceleration or the
underlying default had been cured. An acceleration of Transocean's
obligations under the 2027 Notes Indenture would result in an event
of default under its $1.3 billion revolving credit facility, which,
upon the direction of, and if not waived by, the lenders holding at
least 50% of the principal amount of commitments under the
revolving credit facility could result in a termination of the
commitments and acceleration of all outstanding principal
thereunder.  As of June 30, 2020, Transocean had no outstanding
borrowings and $25 million of letters of credit issued under its
revolving credit facility.

Extension of Exchange Offers

On Sept. 8, 2020, Transocean announced that, as a result of the
interference caused by the filing of the TRO and Injunction and the
delivery of the Notice, both of which Transocean believes are
meritless, Transocean has elected to extend the Exchange Offers
until 5:00 p.m., New York City time, on Sept. 9, 2020, to provide
eligible holders of Existing Notes the opportunity to continue to
support Transocean and participate in the Exchange Offers.

Other Events

Successful Dismissal of Requests for Temporary Restraining Order
and Preliminary Injunction

On September 2, 2020, Whitebox, as a holder of Transocean Inc.'s
Existing 2025 Guaranteed Notes, 7.50% Senior Notes due 2026, the
Existing 2027 Guaranteed Notes and 6.80% Senior Notes due 2038 (the
"Plaintiffs") filed a complaint in the Court seeking the TRO and
Injunction and alleging that Transocean made material misstatements
and omissions in the Exchange Offer Memorandum. The claim was based
on an allegation similar to the one underlying the Notice described
above: that Transocean allegedly breached the indentures governing
the Existing 2025 Guaranteed Notes and the Existing 2027 Guaranteed
Notes because the Structurally Senior Guarantors should have
provided a guarantee for the Existing 2025 Guaranteed Notes and the
Existing 2027 Guaranteed Notes; and that the purported obligation
to provide such guarantees should have been disclosed in the
Exchange Offer Memorandum.

Consistent with its position with respect to the Notice and the
lack of merit of the allegation therein, Transocean strongly
disagrees with the allegation by the Plaintiffs in its lawsuit. On
September 3, 2020, Transocean, as defendant, and Whitebox, as
plaintiff, each presented its arguments regarding Whitebox's
request for the TRO and Injunction to the Court. At the hearing,
the Court promptly denied the Plaintiffs' TRO and Injunction
request. Transocean will continue to defend itself vigorously
against such lawsuit and any related future claims, which it
believes are meritless.

Final Results

Transocean announced Sept. 9, 2020, the final results of the
previously announced offers by Transocean Inc., its wholly-owned
subsidiary, to exchange the existing notes set forth in the table
below (collectively, the "Existing Notes") for 11.50% Senior
Guaranteed Notes due 2027 (the "New 2027 Senior Guaranteed Notes")
to be issued by Transocean Inc. The Exchange Offers were made
pursuant to the Exchange Offer Memorandum and Consent Solicitation
Statement, dated August 10, 2020 (as supplemented, the "Exchange
Offer Memorandum").

The Exchange Offers expired at 5:00 p.m., New York City time, on
September 9, 2020 (the "Expiration Time"). According to information
received from D.F. King & Co., Inc., the exchange agent and
information agent for the Exchange Offers, as of the Expiration
Time, $1,514,164,000 in aggregate principal amount of Existing
Notes had been validly tendered, consisting of the following
Existing Notes:

                                                  Principal
  Title of Existing Notes   Total Consideration   Amount Tendered
  -----------------------   -------------------   ---------------
6.375% Senior Notes due 2021     $825.00            $37,294,000
3.800% Senior Notes due 2022     $730.00           $136,035,000
7.25% Senior Notes due 2025      $475.00           $207,101,000
7.50% Senior Notes due 2026      $475.00           $180,818,000
8.00% Senior Notes due 2027      $455.00           $137,870,000
8.00% Debentures due 2027        $375.00            $35,455,000
7.45% Notes due 2027             $405.00            $35,460,000
7.00% Notes due 2028             $375.00            $38,783,000
7.50% Notes due 2031             $395.00           $192,226,000
6.80% Senior Notes due 2038      $375.00           $390,358,000
7.35% Senior Notes due 2041      $395.00           $122,764,000

The interest rate for the 2021 Notes, 2022 Notes and 2041 Notes has
been increased to 8.375%, 5.800% and 9.35%, respectively, pursuant
to the terms of the applicable indenture.

Consideration in the form of principal amount of New 2027 Senior
Guaranteed Notes per $1,000 principal amount of Existing Notes that
are validly tendered and accepted for exchange, subject to
rounding. Excludes accrued and unpaid interest, which will be paid
in cash in addition to the applicable total consideration on the
Settlement Date.

Based on the applicable total consideration and the amounts
tendered as of the Expiration Time, approximately $688 million
aggregate principal amount of New 2027 Senior Guaranteed Notes will
be issued. Transocean intends to accept for exchange all Existing
Notes validly tendered prior to the Expiration Time and expects to
settle the Exchange Offers on September 11, 2020 or as soon as
practicable thereafter (the "Settlement Date").

                       About Transocean Ltd.

Transocean Ltd. is an international provider of offshore contract
drilling services for oil and gas wells. The Company's primary
business is to contract its drilling rigs, related equipment and
work crews on a dayrate basis to drill oil and gas wells.



TREATMENT MANAGEMENT: Case Summary & 20 Top Unsecured Creditors
---------------------------------------------------------------
Debtor: Treatment Management Company, LLC
        770 SE Indian Street
        Stuart, FL 34997

Business Description: Treatment Management Company, LLC operates
                      an addiction treatment center.

Chapter 11 Petition Date: September 17, 2020

Court: United States Bankruptcy Court
       Southern District of Florida

Case No.: 20-20025

Judge: Hon. Erik P. Kimball

Debtor's Counsel: Bradley S. Shraiberg, Esq.
                  SHRAIBERG LANDAU & PAGE PA
                  2385 NW Executive Center Dr
                  Suite 300
                  Boca Raton, FL 33431
                  Tel: 561 443 0800
                  Email: bss@slp.law

Estimated Assets: $0 to $50,000

Estimated Liabilities: $50 million to $100 million

The petition was signed by Paul Kamps, CFO.

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/LKVHAMQ/Treatment_Management_Company_LLC__flsbke-20-20025__0001.0.pdf?mcid=tGE4TAMA


ULTRA PETROLEUM: Successfully Emerges from Chapter 11 Bankruptcy
----------------------------------------------------------------
UP Energy, LLC (formerly known as UP Energy Corporation) announced
that on September 14, 2020 the conditions to effectiveness of its
Chapter 11 Plan of Reorganization, which was confirmed by the
United States Bankruptcy Court for the Southern District of Texas
on August 22, 2020, were satisfied and Ultra emerged from
bankruptcy.  Pursuant to the Plan, UP Energy Corporation emerged as
the ultimate parent entity and as a private company.  The day after
emergence, UP Energy Corporation converted from a Delaware
corporation to a Delaware limited liability company and changed its
name to UP Energy, LLC.  Ultra Petroleum Corp., a Yukon
corporation, will be dissolved in connection with the emergence
process.

Through its financial restructuring, the Company eliminated
approximately $2.0 billion of indebtedness from its balance sheet.
The result is a go-forward enterprise that has the potential to
generate significant free cash flow from a large-scale, low-cost
base of natural gas and condensate production.

At emergence, the Company entered into a syndicated reserve-based
revolving credit facility with a $60 million commitment amount and
an initial borrowing base of $100 million.

Ultra’s President and Chief Executive Officer, Brad Johnson,
commented, "We are excited about the future of Ultra.  With a
pristine balance sheet and a large-scale, low-decline asset base
that generates cash flow, the Company is well positioned to
effectively manage future commodity cycles and opportunistically
pursue acquisitions that enhance our large proved developed
producing reserve base.  On behalf of our management team and the
new Board of Managers, I want to thank each individual on the Ultra
team for their dedication and focus as we successfully navigated
the restructuring process."

Upon emergence, a new Board of Managers of Ultra was appointed.

In connection with emergence, Ultra Petroleum filed a Form 15 with
the Securities and Exchange Commission evidencing the termination
of the registration of its securities under Section 12(g) of the
Securities Exchange Act of 1934 and suspending its reporting
obligations under Section 15(d) of the Exchange Act.  As a result
of such filing, Ultra Petroleum will no longer be obligated to and
will not file any further current or periodic reports with the
SEC.

Centerview Partners served as financial advisor to the Company,
Kirkland & Ellis LLP served as the Company's legal counsel and FTI
Consulting served as the restructuring advisors to the Company.

Evercore Group L.L.C. served as financial advisor, and Stroock &
Stroock & Lavan LLP served as legal counsel, to an ad hoc group of
Ultra's senior creditors in connection with the restructuring.

                        About UP Energy

UP Energy, LLC -- http://www.ultrapetroleum.com/-- is a private
energy company engaged in domestic natural gas and oil exploration,
development and production focused on developing its long-life
natural gas reserves in the Pinedale and Jonah Fields of
Wyoming’s Green River Basin. Ultra controls more than 117,000
gross (83,000 net) acres in and around the prolific Pinedale and
Jonah Fields.

                    About Ultra Petroleum

Ultra Petroleum Corp., an independent oil and gas company, engages
in the acquisition, exploration, development, operation, and
production of oil and natural gas properties. Its principal
business activities are developing its natural gas reserves in the
Green River Basin of southwest Wyoming, the Pinedale and Jonah
fields.  The company was founded in 1979 and is headquartered in
Englewood, Colorado.

Ultra Petroleum Corp. and its affiliates sought Chapter 11
protection (Bankr. S.D. Tex. Lead Case No. 20-32631) on May 14,
2020.

The Debtor disclosed total assets of $1,450,000,000 and total debt
of $2,560,000,000 as of March 31, 2020.

The Hon. Marvin Isgur is the case judge.

The Debtors tapped KIRKLAND & ELLIS LLP as general bankruptcy
counsel; JACKSON WALKER LLP as local bankruptcy counsel; CENTERVIEW
PARTNERS LLC as investment banker; and FTI CONSULTING, INC., as
financial advisor.  Prime Clerk LLC is the claims agent.


V GARGUILO ENTERPRISES: Seeks Court Approval to Hire Accountant
---------------------------------------------------------------
V Garguilo Enterprises LLC, seeks authority from the U.S.
Bankruptcy Court for the Middle District of Florida to employ
Jeffrey Allen, a certified public accountant practicing in
Florida.

Mr. Allen will assist Debtor in the preparation of court-ordered
reports and other documents necessary to prepare its financial
disclosure statement.

Mr. Allen will be paid an hourly fee of $175 for the preparation of
U.S. Trustee reports and other bankruptcy court documents and an
hourly fee of $75 for accounting services.  The rates charged by
his accounting staff range from $50 to $100 per hour.

The accountant neither represents nor holds any interest adverse to
Debtor and its bankruptcy estate and creditors.

Mr. Allen holds office at:

     Jeffrey Allen, CPA
     760 16th Avenue South
     St. Petersburg, FL 33705
     Telephone: (727) 481-8403
     Email: jeffreyallen.jwa@gmail.com  

                   About V Garguilo Enterprises

V Garguilo Enterprises, LLC, filed a Chapter 11 bankruptcy petition
(Bankr. M.D. Fla. Case No. 20-05379) on July 15, 2020. At the time
of the filing, Debtor disclosed assets of between $100,001 and
$500,000 and liabilities of the same range.  Judge Catherine Peek
Mcewen oversees the case.  Debtor is represented by Comer Law Firm.


V.S. INVESTMENT: Selling Seattle Property for $750K
---------------------------------------------------
V.S. Investment Assoc., LLC, asks the U.S. Bankruptcy Court for the
Western District of Washington to authorize the sale of the real
property located at 2467 S College Street, Seattle, Washington to
Srinath Subramanyam Venigandla and Lakshmi Sindura Nadella and/or
assigns for $749,950, free and clear of all liens.

The Debtor listed an ownership interest in the property.  It
engaged the services of Shawn Perry with Windemere Real Estate
North, Inc. to list the property for sale.  

On Aug. 30, 2020, an offer to purchase the property for $749,950
was received.  The offer is $124,950 higher than any previous
offer.  The present offer is the highest and best offer received.

The subject property is one of a four-unit real estate development
project listed on the Debtor's Schedule A/B at an estimated $3.6
million.  All the four units are encumbered by liens in these
priority and amounts:  

          Creditor      Recording Date      Approx Amount Due

    BRMK Lending, LLC     4/21/2016           $4,236,396
        Paul Greben       1/16/2020           $  598,500
                      1/21/2020 amended
    Ecocline Exc. &       1/30/2020           $  137,205
     Utilities LLC

The Debtor asks authority to pay the first position Deed of Trust
of BRMK Lending, LLC, successor by merger to PBRELF I, LLC all
remaining proceeds after costs of closing, including real estate
commissions, taxes, United States Trustee fees and other closing
costs, as satisfaction of its lien against this property.   

Finally, it asks waiver of the 14-day period under Bankruptcy Rule
6004(h).

A telephonic hearing on the Motion is set for Oct. 2, 2020 at 9:30
a.m.  The objection deadline is Sept. 25, 2020.

                     About V.S. Investment

V S Investment Assoc LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. W.D. Wash. Case No. 20-11541) on May 29,
2020.  At the time of the filing, the Debtor was estimated to have
assets of between $1 million and $10 million and liabilities of the
same range.  Judge Christopher M. Alston oversees the case.  The
Debtor has tapped Bountiful Law, PLLC, as its legal counsel.


VIPC HOLDINGS: Proposes a Sale of Assets for $701K Cash
-------------------------------------------------------
VIPC Holdings Liquidating, Inc. and affiliates ask the U.S.
Bankruptcy Court for the Delaware to authorize the private sale of
(i) the real property, located at 406 Futorian Way, New Albany,
Mississippi, plus any related transferable rights, to New Albany
Acquisitions, LLC for $676,000, cash; and (ii) remnant assets to
SLFAQ, LLC for $25,000, cash.

When they commenced these chapter 11 cases, the Debtors expected to
swiftly confirm and consummate their Joint Prepackaged Plan of
Reorganization of VIP Cinema Holdings, Inc. and Its Debtor
Affiliates Pursuant to Chapter 11 of the Bankruptcy Code, which
contemplated a comprehensive and consensual prepackaged
reorganization of their businesses.  However, as the Court is well
aware, unforeseen circumstances have since led the Debtors down a
markedly different path.

Unfortunately, after the Petition Date and in response to the
COVID-19 pandemic, governments across the world have required that
the Debtors' customers -- namely, movie theatres -- suspend their
operations.  This, in turn, affected demand for their products and
their customers' ability to receive and pay for finished goods.  In
addition, the global economic crisis cast doubt on the feasibility
of the Plan and certain events, including the resignation of the
Debtors' CEO, permitted certain parties supporting the Plan to
terminate their support.  For these and other reasons, the Debtors
were forced to abandon the Plan, begin a wind-down of their
operations, and liquidate their assets.  

As a part of that process beginning in early April, the Debtors
began exploring various options to liquidate and monetize their
remaining assets.  That process resulted in them filing their
motion to sell substantially all assets, which the Court approved
by order entered on July 8, 2020 ("JESS Sale Order").  By the JESS
Sale Order, the Debtors were authorized to sell substantially all
of their assets to an operating entity.  Following the closure of
such sale in mid-July, the Debtors focused their efforts on
liquidating their remaining assets, which largely consisted of one
piece of real property, accounts receivable, certain inventory and
raw materials and other miscellaneous assets.   

The results of such efforts are the Property Purchase Agreement and
the Remnant Purchase Agreement.  The Debtors believe, in their
business judgment, that approval and consummation of these
agreements with the Property Purchaser and Remnant Purchaser at
this time is the best path to maximize the value of the Purchased
Assets.  In addition, the Debtors' pre- and post-petition senior
secured lenders -- their key stakeholders and residual
beneficiaries of all of the economic value of their enterprise --
support the sales of the Real Property and Remnant.

The key terms of the Property Purchase Agreement are:

     a. Purchaser: New Albany Acquisitions, LLC

     b. Assets to be Sold: The Real property, located at 406
Futorian Way, New Albany, MS 38652 plus any related transferable
rights

     c. Purchase Price: $676,000 cash

     d. The transaction is a private sale.

     e. Closing and Other Deadlines: The Closing Date is a date
mutually acceptable to the Seller and the Purchaser, which will in
any event occur within five business days from entry of the order
approving the Property Purchase Agreement.

     f. The Debtors are asking to sell the Purchased Assets free
and clear of successor liability claims that do not constitute
assumed liabilities.

The key terms of the Remnant Purchase Agreement are:

     a. Purchaser: SLFAQ, LLC

     b. Assets to be Sold: Remnant Assets, defined as all of the
Debtors' assets, other than certain Excluded Assets, and which
Remnant Assets include accounts receivable and other assets set
forth on Exhibit A to the Remnants Purchase Agreement, known or
unknown assets or claims which have not been previously sold,
assigned, or transferred; provided, however, that collection of
proceeds from the Odeon accounts receivable prior to Oct. 30, 2020,
will be shared with 80% going to the Debtors and 20% to the
Remnants Purchaser.

     c. Purchase Price: $25,000 cash

     d. The transaction is a private sale.

     e. Closing and Other Deadlines: The Closing Date will occur
within three business days of entry of an order of the Court
approving the Remnants Purchase Agreement.

     f. The Debtors are asking to sell the Purchased Assets free
and clear of successor liability claims that do not constitute
assumed liabilities.

Timely consummation of the Sales is of critical importance to both
the Purchasers and the Debtors' efforts to maximize the value of
their estates. Accordingly, the Debtors ask that the Court waive
the 14-day stay period under Bankruptcy Rules 6004(h).

A hearing on the Motion is set for Sept. 21, 2020 at 2:00 p.m.
(ET).  The Objection Deadline is Sept. 14, 2020 at 4:00 p.m. (ET).

A copy of the Agreement is available at
https://tinyurl.com/yxe8gt2b from PacerMonitor.com free of charge.

Counsel for Debtors:

        Erin R. Fay, Esq.
        Daniel N. Brogan, Esq.
        Gregory J. Flasser, Esq.
        BAYARD, P.A.
        600 N. King Street, Suite 400  
        Wilmington, DE 19801
        Telephone: (302) 655-5000
        Facsimile: (302) 658-6395
        E-mail: efay@bayardlaw.com
                dbrogan@bayardlaw.com
                gflasser@bayardlaw.com

              -- and --

        Gregg M. Galardi, Esq.
        Cristine Pirro Schwarzma, Esq.
        ROPES & GRAY LLP
        1211 Avenue of the Americas
        New York, NY 10036
        Telephone: (212) 596-9000
        Facsimile: (212) 596-9090
        E-mail: gregg.galardi@ropesgray.com
                cristine.schwarzman@ropesgray.com

                About VIPC Holdings Liquidating

VIPC Holdings Liquidating, Inc. and affiliates comprised a
multinational enterprise that was the largest manufacturer, and
pioneer, of luxury recliner seating for movie theaters.

VIPC Holdings Liquidating, Inc. (Bankr. D. Del. Case No. 20-10345)
and affiliates each sought Chapter 11 protection on Feb. 18, 2020.



VIVUS INC: 4 Equity Holders Halt Approval of Icahn Plan
-------------------------------------------------------
Bloomberg News reports that Vivus Inc. failed to get court approval
of a reorganization plan that would have given the bankrupt
pharmaceutical company's equity to a subsidiary of Icahn
Enterprises after a judge questioned equity valuation and how
shareholders would fare.

Four shareholders of the publicly traded company had objected to
the plan because it wipes out their interests.  Judge Laurie S.
Silverstein of the U.S. Bankruptcy Court for the District of
Delaware said that she was ordering the U.S. Trustee, the Justice
Department's bankruptcy watchdog, to appoint a committee of
shareholders to participate in the case.

Judge Silverstein didn'’t entirely kill Vivus' plan, and intends
to keep the record open after hearing several days of testimony on
it.

IEH Biopharma LLC, a subsidiary of Icahn Enterprises that holds
Vivus' convertible notes, would have received 100% of the equity in
the company emerging from bankruptcy.  That's worth about 76% of
IEH’s about $171 million claim, according to Vivus' plan
disclosures.

Vivus didn't satisfy its burden of proving it met all the
requirements in the bankruptcy code for confirming a plan, Judge
Silverstein said.

Silverstein acknowledged the plan would have paid trade creditors
100%, but she questioned if it was fair for shareholders.  Most
shareholders didn't object to the plan, and would have shared pro
rata from a pool of $5 million as part of a settlement.

The evidence supporting the company's valuation, however, wasn't
consistent with recent public filings and equity offerings, Judge
Silverstein said.

Vivus didn’t market the company for sale, generally considered
the best way to determine a company’s actual value. Instead,
Vivus had a restructuring support agreement in place with IEH
Biopharma when Vivus filed Chapter 11 in July. The deal centered
around a debt-for-equity swap that would negate the need for a
company sale.

The court wasn't satisfied with how certain pharmaceuticals in
production were valued by witnesses or experts.  How to value a
clinical drug "remains an open issue for me, for which I could use
assistance," Silverstein said.

The court didn't find fault with IEH Biopharma. "There's no
evidence that IEH did anything untoward," Silverstein said.

Vivus' initial agreement with shareholders also would have excluded
any shareholders who objected to the deal or the plan.
"Shareholders were actually discouraged from challenging the
valuation or the plan," Silverstein said.

The plan would have reduced Vivus' funded debt from about $235
million to $90 million under a new exit loan, the company had
said.

That exit loan was to be used to pay off about $64 million of
secured notes and provide working capital to keep the company in
business, according to Vivus’ plan disclosure statement.

Now Vivus will have to deal with a committee representing
shareholder interests as it renegotiates or submits a new plan.

                          About Vivus Inc.

Vivus Inc -- https://www.vivus.com/ -- is a biopharmaceutical
company committed to the development and commercialization of
innovative therapies that focus on advancing treatments for
patients with serious unmet medical needs. VIVUS has three approved
therapies and one product candidate in clinical development. Qsymia
(phentermine and topiramate extended release) is approved by FDA
for chronic weight management.  The Company commercializes Qsymia
in the U.S. through a specialty sales force supported by an
internal commercial team and license the commercial rights to
Qsymia in South Korea. VIVUS was incorporated in 1991 in California
and reincorporated in 1996 in Delaware. As of the Petition Date,
VIVUS is a publicly traded company with its shares listed on the
Nasdaq Global Market LLC under the ticker symbol "VVUS." The
Company maintains its headquarters in Campbell, California.

Vivus Inc and three of its affiliates sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. D. Del., Case No.
20-11779) on July 7, 2020. The petitions were signed by Mark Oki,
chief financial officer. Hon. Laurie Selber Silverstein presides
over the cases.

As of May 31, 2020, the Debtors reported total assets of
$213,884,000 and total liabilities of $281,669,000.

Weil Gotshal & Manges LP serves as general counsel to the Debtors,
while Richards, Layton & Finger, P.A. acts as local counsel to the
Debtors. Ernst & Young is the Debtors' financial advisor, and Piper
Sandler Companies acts as investment banker.   Stretto is claims
and noticing agent to the Debtors.


WADE PARK: Taps Caplan Cobb as Special Litigation Counsel
---------------------------------------------------------
Wade Park Land, LLC and Wade Park Land Holdings, LLC received
approval from the U.S. Bankruptcy Court for the Northern District
of Georgia to hire Caplan Cobb LLP as their special litigation
counsel.

The services that will be provided by Caplan Cobb are as follows:

     a. continue certain existing litigation in which Debtors may
be a party;

     b. assist Stone & Baxter, LLP and Debtors' other bankruptcy
professionals in the investigation of or defense against claims
filed by or against Debtors;

     c. perform all other special legal services.

The firm's hourly rates are as follows:

     Partners                  $545
     Associates/Of Counsel     $365 to $445
     Paralegals                $115 to $235

The firm will be paid an initial retainer fee of $20,000.

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

The firm can be reached through:

     James W. Cobb, Esq.
     Caplan Cobb LLP
     75 14th St NE #2750
     Atlanta, GA 30309
     Telephone: (404) 596-5601
     Email: jcobb@caplancobb.com

                          About Wade Park

Wade Park Land Holdings, LLC and Wade Park Land, LLC sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ga.
Lead Case No. 20-11192) on Aug. 26, 2020. The petitions were signed
by Stanley E. Thomas, authorized representative.

At the time of the filing, Wade Park Land Holdings had estimated
assets of between $100 million and $500 million and liabilities of
between $100 million and $500 million. Wade Park Land had an
estimated assets of between $100 million and $500 million and
liabilities of between $50 million and $100 million.

Stone & Baxter, LLP is Debtors' legal counsel.


WADE PARK: Taps McCathern PLLC as Special Litigation Counsel
------------------------------------------------------------
Wade Park Land, LLC and Wade Park Land Holdings, LLC received
approval from the U.S. Bankruptcy Court for the Northern District
of Georgia to hire McCathern PLLC as their special litigation
counsel.

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

     a. continue certain existing litigation to which Debtors may
be a party;

     b. assist Stone & Baxter, LLP and Debtors' other bankruptcy
professionals in the investigation and litigation of or defense
against claims filed by or against Debtors; and

     c. perform all other special legal services.

The firm will be paid at the following hourly rates:

     James Sherry             $450
     Arnold Shokouhi          $450
     Brett Chisum             $395
     Associates               $305
     Emily Snow (Paralegal)   $195

The firm will receive an initial retainer fee of $10,000.

James Sherry, Esq., a partner at McCathern, disclosed in a court
filing that the firm is a "disinterested person" within the meaning
of Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     James E. Sherry, Esq.
     McCathern, PLLC
     3710 Rawlins Street, Suite 1600
     Dallas, TX 75219
     Telephone: (214) 741-2662
     Facsimile: (214) 741-4717
     E-mail: jsherry@mccathernlaw.com

                          About Wade Park

Wade Park Land Holdings, LLC and Wade Park Land, LLC sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ga.
Lead Case No. 20-11192) on Aug. 26, 2020. The petitions were signed
by Stanley E. Thomas, authorized representative.

At the time of the filing, Wade Park Land Holdings had estimated
assets of between $100 million and $500 million and liabilities of
between $100 million and $500 million. Wade Park Land had an
estimated assets of between $100 million and $500 million and
liabilities of between $50 million and $100 million.

Stone & Baxter, LLP is Debtors' legal counsel.


WALDEN PALMS: Response to Sale of 4 Orlando Condo Units Due Oct. 9
------------------------------------------------------------------
Judge Karen S. Jennemann of the U.S. Bankruptcy Court for the
Middle District of Florida directed any interested party to file a
response to Walden Palms Condominium Association, Inc.'s sale of
four residential condominium units: (i) Units 815, 1034, and 1534
to Waldar, LLC, for $115,918; and (ii) Unit 213 to Douglas
Rouillard for $38,000, by Oct. 9, 2020.

Any objections filed will be heard on Oct. 19, 2020 at 10:00 a.m.

The Units are more particularly described as:

     a. 4772 Walden Circle, Unit 213, Orlando, FL 32811-7242 [PIN
1723298957-02130] for $38,000;

     b. 4748 Walden Circle, Unit 815, Orlando, FL 32811-7242 [PIN
1723298957-08150] for $44,256;

     c. 4740 Walden Circle, Unit 1034, Orlando, FL 32811-7242 [PIN
1723298957-10340] for $40,148; and

     d. 4724 Walden Circle, Unit 1534, Orlando, FL 32811-7242 [PIN
1723298957-15340] for $31,515;

The sale of the Subject Units will be free and clear of all liens,
claims and encumbrances.

Attorney Matthew Kish is directed to serve a copy of the Order on
interested parties who are non-CM/ECF users and file a proof of
service within three days of entry of the order.  

A copy of the Contracts is available at
https://tinyurl.com/y2f5vdfv from PacerMonitor.com free of charge.


                About Walden Palms Condominium
                          Association

Walden Palms Condominium Association, Inc., is a nonprofit property
management company in Orlando, Florida. Walden Palms Condominium
Association sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. M.D. Fla. Case No. 18-07945) on Dec. 24, 2018.  At the
time of the filing, the Debtor estimated assets of $1 million to
$10 million and liabilities of $10 million to $50 million.  The
case is assigned to Judge Cynthia C. Jackson.

The Debtor tapped Shapiro, Blasi, Wasserman & Hermann, P.A., as its
bankruptcy counsel; Arias Bosinger PLLC as general association
counsel; JD Law Firm; as collections & foreclosure counsel; and
Winderweedle, Haines, Ward & Woodman, P.A. as land use counsel.


WELLNESS COUNSELING: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Wellness Counseling & Residential Detoxification
        Services, LLC
        770 SE Indian Street
        Stuart, FL 34997

Business Description: Wellness Counseling & Residential
                      Detoxification is a residential treatment
                      facility for addiction located in Florida.

Chapter 11 Petition Date: September 17, 2020

Court: United States Bankruptcy Court
       Southern District of Florida

Case No.: 20-20026

Judge: Hon. Mindy A. Mora

Debtor's Counsel: Bradley S. Shraiberg, eSQ.
                  SHRAIBERG LANDAU & PAGE PA
                  2385 NW Executive Center Dr
                  Suite 300
                  Boca Raton, FL 33431
                  Tel: 561-443-0800
                  Email: bss@slp.law

Estimated Assets: $500,000 to $1 million

Estimated Liabilities: $50 million to $100 million

The petition was signed by Paul Kamps, CFO.

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/QLZFVQI/Wellness_Counseling__Residential__flsbke-20-20026__0001.0.pdf?mcid=tGE4TAMA


WEST COAST RECOVERY: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: West Coast Recovery Center, LLC
        770 SE Indian Street
        Stuart, FL 34997

Business Description: West Coast Recovery Center is a privately
                      held company in the health care business.

Chapter 11 Petition Date: September 17, 2020

Court: United States Bankruptcy Court
       Southern District of Florida

Case No.: 20-20032

Judge: Hon. Mindy A. Mora

Debtor's Counsel: Bradley S. Shraiberg, Esq.
                  SHRAIBERG LANDAU & PAGE PA
                  2385 NW Executive Center Dr
                  Suite 300
                  Boca Raton, FL 33431
                  Tel: 561 443 0800
                  Email: bss@slp.law

Estimated Assets: $100,000 to $500,000

Estimated Liabilities: $50 million to $100 million

The petition was signed by Paul Kamps, CFO.

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/PEPOKGQ/West_Coast_Recovery_Center_LLC__flsbke-20-20032__0001.0.pdf?mcid=tGE4TAMA

An order has been entered jointly administering the Debtor's
Chapter 11 case into the Lead Case of TM Healthcare Holdings, LLC
(Bankr. S.D. Fla. Case No. 20-20024).


WEST COAST WELLNESS: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: West Coast Wellness Centers, LLC
        770 SE Indian Street
        Stuart, FL 34997

Business Description: West Coast Wellness Centers operates in the
                      health care industry.

Chapter 11 Petition Date: September 17, 2020

Court: United States Bankruptcy Court
       Southern District of Florida

Case No.: 20-20030

Judge: Hon. Erik P. Kimball

Debtor's Counsel: Bradley S. Shraiberg, Esq.
                  SHRAIBERG LANDAU & PAGE PA
                  2385 NW Executive Center Dr
                  Suite 300
                  Boca Raton, FL 33431
                  Tel: 561 443 0800
                  Email: bss@slp.law

Estimated Assets: $100,000 to $500,000

Estimated Liabilities: $50 million to $100 million

The petition was signed by Paul Kamps, CFO.

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/HELCF5A/West_Coast_Wellness_Centers_LLC__flsbke-20-20030__0001.0.pdf?mcid=tGE4TAMA

An order has been entered jointly administering the Debtor's
Chapter 11 case into the Lead Case of TM Healthcare Holdings, LLC
(Bankr. S.D. Fla. Case No. 20-20024).


WESTMORELAND COAL: Coal Act Obligs. Can be Modified in Bankruptcy
-----------------------------------------------------------------
Brendan Pierson of Westlaw News reports that coal companies'
obligations to fund benefits for retired employees under the
federal Coal Act can be altered under federal bankruptcy law, a
federal appeals court has ruled.  The 5th U.S. Circuit Court of
Appeals on Tuesday followed the 4th and 11th Circuits in making its
finding, which affirms that Westmoreland Coal Co could shed its
Coal Act obligations in its bankruptcy auction of its assets to
creditors last year.  The trustees of the company's retiree benefit
plans had argued that the Coal Act benefits must remain intact.

                  About Westmoreland Coal Co.

Based in Englewood, Colorado, Westmoreland Coal Company
(otcmkts:WLBA) -- http://www.westmoreland.com/-- is an independent
coal company based in the United States. The Company produces and
sells thermal coal primarily to investment grade utility customers
under long-term, cost-protected contracts. Its focus is primarily
on mine locations which allow it to employ dragline surface mining
methods and take advantage of close customer proximity through
mine-mouth power plants and strategically located rail
transportation. At Dec. 31, 2017, the Company's U.S. coal
operations were located in Montana, Wyoming, North Dakota, Texas,
New Mexico and Ohio, and its Canadian coal operations were located
in Alberta and Saskatchewan. The Company sold 49.7 million tons of
coal in 2017.

Westmoreland Coal reported a net loss applicable to common
shareholders of $71.34 million for the year ended Dec. 31, 2017, a
net loss applicable to common shareholders of $27.10 million for
the year ended Dec. 31, 2016, and a net loss applicable to common
stockholders of $213.6 million for the year ended Dec. 31, 2015.

As of June 30, 2018, the Company had $1.45 billion in total assets,
$2.14 billion in total liabilities and a total deficit of $686.2
million.

Westmoreland Coal Company and 36 affiliates filed voluntary Chapter
11 petition (Bankr. S.D. Tex. Case No. 18-35672) on Oct. 9, 2018.

The Debtors tapped Jackson Walker LLP and Kirkland & Ellis LLP and
Kirkland & Ellis International LLP as their legal counsel;
Centerview Partners LLC as financial advisor; Alvarez & Marsal
North America, LLC as restructuring advisor; PricewaterhouseCoopers
LLP as consultant; and Donlin, Recano & Company, Inc. as notice and
claims agent.

The Office of the U.S. Trustee appointed an official committee of
unsecured creditors on Oct. 19, 2018. The Committee tapped Morrison
& Foerster LLP and Cole Schotz P.C. as its legal counsel.

Judge David Jones of the Bankruptcy Court for the Southern District
of Texas on March 2, 2019, confirmed the Amended Joint Chapter 11
Plan of Westmoreland Coal Company, et al. Moreover, pursuant to the
Confirmation Order, debtor Westmoreland Mining LLC is renamed to
Old Westmoreland Mining LLC effective as of March 8, 2019.


WILTON ARMETALE: Creditor Has Standing for Post-Bankruptcy Claims
-----------------------------------------------------------------
Michael Crowley, Anthony Lombardo and Michael R. O'Donnell of Riker
Danzig Scherer Hyland & Perretti LLP wrote on Lexology that in In
re Wilton Armetale, Inc., 2020 WL 4460000 (3d Cir. Aug. 4, 2020),
the United States Court of Appeals for the Third Circuit held  that
a creditor had the ability to bring post-bankruptcy claims against
a debtor if the bankruptcy trustee abandoned those claims.

Artesanias was a creditor of Wilton, and obtained a judgment of
around $900,000 against it. Artesanias eventually learned that
another creditor, North Mill, had plotted with Wilton and a law
firm, Leisawitz Heller, to plunder Wilton's assets. Among other
actions, Wilton had conveyed certain assets to North Mill for
significantly less than the amounts offered by other bidders, and
Wilton and Leisawitz Heller allowed North Mill to record an
"inflated judgment" against it, in exchange for payments to
Wilton's owner.

Artesanias then sued the other parties for fraudulent transfers,
and Wilton declared bankruptcy two months later. In the bankruptcy
action, the trustee sold some of the assets and split proceeds
between Artesanias and North Mill pursuant to settlements entered
within that action. In the settlements, the parties agreed that
"nothing" in the settlements would "affect [Artesanias's]
litigation."  The trustee eventually abandoned most of the
remaining claims in the bankruptcy action via an Abandonment Order,
and Artesanias continued its claims before the District Court.
After North Mill and Leisawitz Heller moved to dismiss, the
District Court referred the matter back to the Bankruptcy Court
because the claims were "related to" the bankruptcy. The Bankruptcy
Court then dismissed the matter, finding that Artesanias lacked
standing to sue because all of its claims became property of the
bankruptcy estate and could only be brought by the trustee.
Artesanias challenged those conclusions before the District Court,
but the District Court agreed and dismissed the case for lack of
standing, finding that only the bankruptcy trustee had the standing
to pursue the claims.

On appeal, the Third Circuit reversed. The Court found that, in the
bankruptcy context, "a litigant's 'standing' to pursue causes of
action that become the estate’s property means its statutory
authority under the Bankruptcy Code, not its constitutional
standing to invoke the federal judicial power." (Emphases in
original).  "A contrary rule would deprive all creditors of
constitutional standing to bring fraudulent-transfer claims against
corporate plunderers because those claims always flow from harm to
a debtor corporation." Thus, the Court found that Artesanias had
constitutional standing to bring these claims, and the Court
confirmed its jurisdiction to hear the matter.

With regard to the merits, the Court found that Artesanias's claims
were property of the bankruptcy estate because claims alleging the
diversion of assets are general claims that any creditor could have
brought, and are not specific to Artesanias.  "That [Artesanias's]
harm might be worse in degree than that suffered by other creditors
does not change the fact that all the creditors’ injuries from
the plundering are the same in kind.” Nonetheless, the Court also
found that a trustee can relinquish the claims, so long as he or
she does so overtly. Here, the Court found that the Abandonment
Order, when read as a whole, allowed these claims to go back to
Artesanias.  "Artesanias had constitutional standing to sue North
Mill and Leisawitz Heller for plundering Wilton's assets. The
bankruptcy merely deprived Artesanias of the statutory authority to
bring those claims, transferring that power to the trustee. But by
abandoning those claims, the trustee resurrected Artesanias's power
to prosecute them."  Accordingly, the Third Circuit found that
Artesanias had standing to pursue the claims and remanded the
matter back to the District Court.

This is a significant decision that all creditors should be
cognizant of when seeking to address collection avenues with a
debtor who has filed bankruptcy and has conspired with others to
hide or secrete assets.


WOODBINE FAMILY: Case Summary & 8 Unsecured Creditors
-----------------------------------------------------
Debtor: Woodbine Family Worship Center and Christian School, Inc.
          DBA Woodbine church
          DBA Woodbine Christian school
          DBA Woodbine Christian school
          DBA Woodbine Cemetery services
          DBA WoodbineDBA Woodbine Christian daycare
       12914 4 Canova Drive
       Manassas, VA 20112

Business Description: Woodbine Family Worship Center and Christian

                      School is a tax-exempt entity (as described
                      in 26 U.S.C. Section 501).

Chapter 11 Petition Date: September 14, 2020

Court: United States Bankruptcy Court
       Eastern District of Virginia

Case No.: 20-12102

Debtor's Counsel: Christopher S. Moffitt, Esq.
                  LAW OFFICES OF CHRISTOPHER S. MOFFITT  
                  218 North Lee Street, 3rd Floor
                  Alexandria, VA 22314
                  Tel: 703-683-0075
                  Email: moffittlawoffices@gmail.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Eugene R. Wells, president and sole
director.

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/77PFFLI/Woodbine_Family_Worship_Center__vaebke-20-12102__0001.0.pdf?mcid=tGE4TAMA


WOODS ELECTRIC: Seeks to Hire Altmann Law Firm as Legal Counsel
---------------------------------------------------------------
Woods Electric & Consulting, LLC seeks approval from the U.S.
Bankruptcy Court for the Northern District of Alabama to hire
Altmann Law Firm, LLC as its legal counsel.

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

     a. advise Debtor with respect to its powers and duties;

     b. prepare legal documents;

     c. review all leases and other corporate papers, and prepare
any necessary motions to assume unexpired leases or executory
contracts;
  
     d. perform other legal services in connection with Debtor's
Chapter 11 case.

Steven Altmann, Esq., the firm's attorney who will be handling the
case, will be paid an hourly fee of $325.  The retainer fee is
$6,283.

Mr. Altmann is a "disinterested person" as that term is defined in
Section 101 (14) of the Bankruptcy Code, according to court
filings.

Mr. Altmann holds office at:

     Steven D. Altmann, Esq.
     Altmann Law Firm, LLC
     The Nomberg Law Firm
     3940 Montclair Road, Suite 401
     Birmingham, AL 35213
     Telephone: (205) 882-5005

               About Woods Electric & Consulting LLC

Based in Pinson, Ala., Woods Electric & Consulting, LLC
manufactures electric motors, power generators, and motor generator
sets.

Woods Electric & Consulting sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. N.D. Ala. Case No. 20-02843) on Sept.
5, 2020. David Woods, the company's general manager, signed the
petition.  At the time of the filing, Debtor had estimated assets
of between $1 million and $10 million and liabilities of the same
range.

Judge Tamara O. Mitchell oversees the case.  

Altmann Law Firm, LLC is Debtor's legal counsel.


[*] 12 Companies That Paid Executives Millions Despite Woes
-----------------------------------------------------------
Gabrielle Olya of GoBankingRates reports that numerous companies
pay their executives millions of dollars as bonuses while they cut
jobs and declare bankruptcy.

"Layoffs are coming," Abigail Disney, granddaughter of Walt Disney
Co. co-founder Roy O. Disney, stated on July 30, in a 24-part blitz
of tweets lambasting the management of the multibillion-dollar
corporation. "Your business practices have turned what would have
been a crisis into a cataclysm for millions of American workers,"
the documentary filmmaker and activist wrote.

The details of Disney's impending layoffs have yet to be disclosed,
but if the media empire's furloughing of roughly 100,000 employees
in April (a move that was estimated to help save the media empire
some $500 million a month amid the pandemic) is any indication, a
brutal blow can be expected.  And, it won't be the C-suite that is
most sorely affected.  Though Disney executive chairman Bob Iger --
who has a net worth of $690 million -- will forgo his base salary
this year, while other top execs including new CEO Bob Chapek take
pay cuts, these sacrifices are small potatoes in the grand scheme
of things.  For example, Chapek is taking a 50% cut off his $2.5
million base salary -- but this number doesn't include his annual
target bonus of $7.5 million and an annual long-term incentive
grant of $15 million.

And Disney isn't the only company continuing to make big payouts to
its top brass while its bottom line -- and in some cases, employees
-- continue to suffer.  Keep reading to see which companies are
giving bonuses to their execs while cutting jobs and closing
locations.

Last updated: Aug. 3, 2020

* J.C. Penney Co.
   -- Executive bonuses paid: $8 million
   -- Number of jobs cut: 1,000

J.C. Penney Co. approved nearly $8 million in bonuses just before
its May 15 bankruptcy filing. CEO Jill Soltau, who received a $17.4
million package upon joining the retail giant in 2018, collected a
$4.5 million bonus, while fellow executives Bill Walford, Michelle
Wlazlo and Brynn L. Evanson were awarded $1 million each.

The company had previously furloughed 78,000 of its 85,000
employees as it closed its stores amid the pandemic, filing for
Chapter 11 bankruptcy in May.  On July 15, the department store
said it would permanently close 151 stores and lay off 1,000
employees.

* Neiman Marcus
   -- Executive bonuses paid: $10 million
   -- Number of jobs furloughed: 11,000

Luxury retailer Neiman Marcus temporarily closed all of its 67
stores in March and furloughed more than 11,000 employees in April,
Reuters reported.  The company filed for bankruptcy in early May --
but at the end of July, U.S. bankruptcy judge David Jones approved
the company's nearly $10 million bonus program for Neiman Marcus's
eight top executives. Of that pool, CEO Geoffroy van Raemdonck may
get up to $6 million.

* Macy's
   -- Executive bonuses paid: $9 million
   -- Number of jobs cut: 3,900

Macy's announced plans in late June to cut 3,900 corporate jobs --
3% of its total workforce -- as a cost-cutting measure. But its
filing with the Securities and Exchange Commission showed that
shortly after that cut was announced, the struggling department
store paid out $9 million in equity awards to six of its top
executives, CNBC reported. That includes $3.7 million in restricted
stock given to Macy's CEO Jeff Gennette.  

* Whiting Petroleum
   -- Executive bonuses paid: $14.6 million
   -- Number of jobs cut: TBD

Whiting Petroleum Corp. doled out $14.6 million in bonus payments
to executives days before its April 1 bankruptcy, Reuters reported.
It's unclear how many job cuts could be coming, but the oil company
cut 254 jobs — 33% of its workforce — just last year.
* Chesapeake Energy
   -- Executive bonuses paid: $25 million
   -- Number of jobs cut: 200

Chesapeake Energy Corp. is another company that's been hurt
financially by both the pandemic and the Saudi-Russian oil price
war. The shale pioneer declared bankruptcy in May — approximately
eight weeks after it awarded $25 million to executives and
lower-level employees, Reuters reported. The Oklahoma-based company
cut 200 jobs in the state in April 2020.

Check Out: Hertz, JC Penney and 20 More Major Companies Going
Bankrupt in 2020

* Ascena
   -- Executive bonuses paid: $5.5 million
   -- Number of stores closing: 2,800

Ascena Retail Group — which owns the Ann Taylor, Loft, Lou &
Grey, Justice, Lane Bryant, Catherines and Cacique brands ––
filed for bankruptcy on July 23 and will shutter approximately
2,800 stores. The store closures will almost undoubtedly come with
massive job cuts. Meanwhile, the retail group announced in late
June that it planned to pay out $5.5 million in retention awards
and performance bonuses to top executives, Multichannel Merchant
reported.

* Libbey
   -- Executive bonuses paid: $3.1 million
   -- Number of jobs cut: Up to 450

Glassware company Libbey paid out roughly $3.1 million in bonuses
to its executives -- including $900,000 to its CEO Mike Bauer --
shortly before filing for bankruptcy on June 1, Forbes reported.
Libbey has already suspended its 401(k) matching program for
employees, and on July 8, the company announced tentative plans to
close its Shreveport, Louisiana, glass-manufacturing facility,
which would leave 450 employees without jobs.


[*] Commercial Bankruptcies Rose 52% in July
---------------------------------------------
The number of businesses seeking chapter 11 protection rose 52% in
July from a year earlier as the coronavirus pandemic roiled the
economy and upended businesses from coast to coast.

In July 2020, businesses filed 642 Chapter 11 filings, compared to
423 during the same month last year, Bloomberg said, citing a
report released by bankruptcy software developer Epiq Systems Inc.
More than 4,200 commercial restructuring cases have been filed in
the U.S. since the beginning of the year, it said.

The "significant" growth in July was expected, as the pandemic that
shuttered businesses has reshaped consumer buying habits, Deirdre
O'Connor, Epiq's managing director of corporate restructuring, said
in a statement.

"Therefore, we will continue to see large retail, energy, and
transportation businesses taking advantage of the tools provided by
a formal bankruptcy to restructure to be more profitable and
competitive in the long-term," she said.

Epiq's latest data follows its report last month that commercial
cases had increased 26% year-over-year in the first half of the
year. June's filings represented a 43% increase compared to the
same month last 2019.

Bankruptcy filings in 2019 already had started to rise after eight
years of decline.

A considerable number of Chapter 11 filings in 2020 are for
subsidiaries of larger corporations, but the economic impact of
Covid-19 has already pushed several large distressed companies into
bankruptcy.

Ann Taylor parent Ascena Retail Group Inc., Chesapeake Energy
Corp., Hertz Global Holdings Inc., J.C. Penney Co., and Chuck E.
Cheese parent CEC Entertainment Inc. are among some of the big
companies that were felled by the pandemic.

Fewer individuals have filed for bankruptcy so far this year
compared to 2019, as government-backed programs provided direct
cash payments and injected liquidity into the markets. But the
number of Chapter 7 and Chapter 13 filings have steadily increased
each month since April, according to Epiq.

"Perhaps these numbers are early indications of the pending
personal bankruptcy spike expected to start later this year as the
longer-term impact of the COVID-19 begins to manifest," Epiq Senior
Vice President Chris Kruse said in a statement.


[*] Virus To Economic Shutdown To Bankruptcy? Be Prepared
---------------------------------------------------------
Louis Vlahos of Farrell Fritz, P.C. wrote an article on JD Supra
titled "Virus To Economic Shutdown To Bankruptcy? Not Necessarily,
But Be Prepared."

Bankruptcy Resurgent?

The economic shutdown, and the ensuing recession, triggered by the
COVID-19 pandemic have jeopardized the survival of many businesses
and, in some cases, of entire industries.

Notwithstanding the Federal government’s efforts to mitigate the
adverse consequences of this very challenging economic
environment,[i] commercial bankruptcy filings under Chapter 11 of
the U.S. Bankruptcy code[ii] were up 43% in June 2020 over June of
last year;[iii] in May 2020, they were up 48% from last year.[iv]
For the first half of 2020, total commercial Chapter 11 filings
were up 26%.[v]

In reaction to these developments, and to what they may signify for
the immediate future, many bankruptcy organizations[vi] have been
asking Congress to consider amending those provisions of the Code
that govern the taxation of cancellation of indebtedness income
("CODI").[vii] For example, there have been requests that taxpayers
be allowed to defer the recognition of such income;[viii] without
such deferral, any plan of reorganization – which as a matter of
course will likely include some debt cancellation – may result in
a large, and immediately payable, tax bill which the
debtor-business and its owners cannot satisfy. Others have
suggested that the debt cancellation income be offset by reducing
the taxpayer's tax attributes.[ix]

At the moment, the Republican-controlled Senate and the
Democrat-controlled House are trying to reconcile their respective
versions of the next economic stimulus legislation, neither of
which seems to consider the impact of CODI on a
debtor-business.[x]

However, based upon the pace of bankruptcy filings described above,
and assuming there will be a second wave of COVID-19 this fall[xi],
along with the ensuing social-distancing-induced closures, it's
only a matter of time before Congress will have to confront – and
will have to take measures to ameliorate – the impact of CODI on
the tax liabilities of many debtor businesses.

Until then, the owners of a closely held business that may
reasonably expect to be at risk[xii] should consult their advisers
– it is never too early to start planning for the economic
consequences resulting from the interplay of the tax and bankruptcy
laws. It would also behoove them to understand some of the basic
concepts, some of which are discussed in the decision described
below.[xiii]

The Straddle Year

In October 2015, a corporate debtor ("Debtor") filed a voluntary
petition for relief under Chapter 11 of the Bankruptcy code[xiv]
(the "BC"). However, prior to filing for bankruptcy, Debtor had
sold substantially all of its material assets; the Bankruptcy Court
(the "B-Court") converted Debtor's case to one under Chapter 7, and
the U.S. Trustee appointed a “case” trustee ("Trustee").[xv]

The Debtor's tax year ended on December 31. In September 2016,
Trustee filed Debtor's federal corporate income tax return for the
2015 calendar year. Debtor's taxable income was realized
principally from its pre-petition activities.

Based on Debtor's federal tax return for its year ending December
31, 2015,[xvi] the IRS filed an "administrative expense priority
claim" in Debtor's bankruptcy case for taxes, penalties, and
interest. The events that gave rise to these asserted tax
obligations occurred before the filing of Debtor's petition in
bankruptcy.

Trustee asked the B-Court to disallow the IRS's administrative
expense priority claim and to reclassify it as a general unsecured
claim.

The issue before the B-Court was how to treat Debtor's federal
income tax liability for the 2015 "straddle year" – i.e., the tax
year during which Debtor filed its petition for bankruptcy – for
purposes of the BC's priority rules.

The B-Court held that the straddle tax year had to be bifurcated
into pre- and post-petition periods; that Debtor’s income tax
obligations for its 2015 tax year had to be allocated between these
two periods; and that income taxes resulting from pre-petition
events during the straddle year were accorded "general unsecured
[eighth priority] treatment,"[xvii] while income taxes resulting
from post-petition events in that same straddle year – after the
bankruptcy estate[xviii] came into existence – were granted
"administrative [second] priority" treatment.

The B-Court's determination meant that the IRS's claim against
Debtor – which was derived from pre-petition events – would be
treated as a general unsecured claim; i.e., one with a relatively
low probability of receiving any significant distribution from the
bankruptcy estate.

The IRS Disagrees

The IRS asked the U.S. District Court (the "D-Court") to reverse
the B-Court's conclusion that a claim for Debtor's corporate income
taxes for the straddle year was only entitled to administrative
priority to the extent it was attributable to post-petition income
or events.

The IRS contended that the B-Court reached the wrong result because
under applicable non-bankruptcy law – the Internal Revenue Code
– a corporation's entire annual income tax accrues on the last
day of its tax year. Because a corporation has only a single tax
liability for a tax year, the entire tax is "incurred by the
estate" on that day. The IRS argued that the B-Court erred in its
failure to consider the language of the Code in its determination
of when federal income tax is incurred. The IRS asserted that both
the BC and the Code distinguish income taxes, on the one hand, from
transaction- or event-based taxes,[xix] on the other.

According to Trustee, the B-Court reached the correct result in
holding that income tax is incurred daily, based on each day's
events and transactions, and that a single year's tax liability
must be apportioned between pre-petition and post-petition days,
events, and transactions. Under this view, any portion of Debtor's
income tax traceable to events or transactions prior to the
petition date, when no bankruptcy estate yet existed, was not
"incurred by the estate." Moreover, since Debtor's tax year did not
end prior to the filing of the bankruptcy petition, the tax
incurred in the pre-petition portion of the straddle year was not
entitled to priority status, but rather was only a general
unsecured claim, notwithstanding the policy of giving preferential
treatment to taxes the government has not had a reasonable time to
assess or collect. According to Trustee, the distinction between
income taxes and event-based taxes was irrelevant; the IRS's claim
for taxes accrued when the income was earned, at the time of the
taxable event, such as the pre-petition sale of assets.

Thus, the issue before the D-Court was whether the B-Court was
required to look to the underlying substantive tax law – the
Code[xx] – to determine when the income tax accrued, as urged by
the IRS, or whether the answer turned entirely on when individual
transactions or events occurred – pre-petition vs. post-petition
– as urged by Trustee's bifurcated approach.

The District Court

The D-Court began by explaining that the BC sets out several
priorities of expenses and unsecured claims against a bankruptcy
estate. Second priority is accorded to certain "administrative
expenses."[xxi] To warrant administrative claim priority, the
D-Court continued, the straddle year taxes must have been incurred
by the estate.

Taxes "incurred by the estate" are administrative expenses, the
D-Court stated, entitled to second priority. According to the
D-Court, the sole issue on appeal was whether Debtor's corporate
income taxes were "incurred by the estate."

The IRS argued that a determination of when a tax is "incurred by
the estate" depends on when the estate "become[s] liable" for the
tax. The IRS argued that, under the Code, a federal income tax does
not become a fixed liability until the last day of the applicable
tax period; the IRS asserted that this cannot occur until the last
day of Debtor's tax year.

Conversely, Trustee argued that each time a taxable event occurs
during a tax year, the taxpayer "becomes liable" for any tax
obligation that may arise as a result thereof, regardless of
whether that the liability may be contingent, disputed, or
unliquidated.[xxii]

Trustee urged that "corporate income taxes accrue – and thus are
'incurred' – on a daily basis as events giving rise to tax
liability occur." According to Trustee, this construction was
consistent with federal bankruptcy law "in determining when a claim
arises for bankruptcy purposes." Thus, the IRS's claim (i.e., the
right of payment of taxes on income earned pre-petition) “accrued
when the income was earned."

The D-Court noted that "The first test for administrative priority
– whether a claim for taxes on income earned pre-petition in the
year of bankruptcy could be considered 'incurred by the estate' –
presents a clash between tax policy and bankruptcy policy."
Administrative priority, it stated, turns on whether and when the
tax at issue was “incurred by the estate," not whether and when
the IRS's tax claim arose. This determination, the D-Court
explained, must be made based on the underlying substantive tax
law.

Under substantive tax law, the D-Court continued, each type of tax
is "incurred" at a different point: (1) federal income taxes are
"incurred" at the end of the tax year; (2) employment taxes are
incurred when wages are paid;[xxiii] and (3) excise taxes are
incurred at the time of an event.

"Importing the traditional bankruptcy claims analysis," the D-Court
stated, won't work for purposes of the priority rules because the
identification of when the action which underlies a "right to
payment" occurred will not necessarily comport with a determination
of when the tax "accrues and becomes a fixed liability" in
accordance with the relevant substantive tax law.[xxiv]

"Here," the D-Court explained, "the Code is the substantive law
creating and defining the taxes included in the IRS's Claim." Based
on the plain language of the Code, a corporation’s federal income
tax, if any, “accrues and becomes a fixed liability" on the last
date of the tax year. The Code imposes a tax on "taxable
income;"[xxv] taxable income, in turn, is defined as gross income,
which is "all income from whatever source derived," minus allowable
deductions.[xxvi] It is only on the last day of the taxable year
that all events giving rise to an income tax have occurred (both
these creating income and those creating deductions).[xxvii] A
corporation's income tax thus does not become "a fixed liability"
or "inescapably imposed" until that day – December 31 for
calendar year taxpayers like the Debtor.[xxviii] It is only after
that moment that the corporation's income tax liability, if any,
becomes fixed and inescapably imposed.

Trustee argued that none of the foregoing compels the outcome
sought by the IRS. Trustee argued that the Code does not define the
terms "incurred" or "accrued" and does not address the
classification or prioritization of the taxes at issue. According
to Trustee, the fact that the amount of income tax due may change
up until the last minute of the tax year is of no moment and does
not necessarily mean that the tax is "incurred" at that point.

While the D-Court conceded that the Code does not define the terms
"incurred" or "accrued," and does not address the classification or
prioritization of the taxes at issue, it rejected Trustee's
contention that the income tax at issue here was incurred prior to
the end of the 2015 tax year, stating that the Code imposes a tax
for an entire year, not individual events. Corporate income tax
liability, the D-Court reiterated, is determined by netting all the
tax year's income with all the year’s deductible expenses, then
applying the applicable tax rate. That computation is based on the
sum of information at the end of the tax year.[xxix]

Applying these provisions, the D-Court concluded that Debtor's 2015
taxable income could only be calculated at the end of its taxable
year, after all income and deductions were known. Said differently,
until December 31, 2015, Debtor did not have taxable income because
not all possible events had occurred. While a major source of
income came from sales occurring before the October 2015 petition
date, it was irrelevant, the D-Court stated, "whether that income
was recognized on one day during the year or on 365 separate days,"
because the Code considers aggregate amounts, not individual income
events or deductions, during the year. Under the substantive tax
law, the Debtor's income became taxable income only after
determining all income and deductions for the taxable year, at
which point the tax accrued and became a fixed liability.

Finally, Trustee asserted that applying the IRS's interpretation
would lead to an "absurd result" which would "gut the Bankruptcy
Code." According to Trustee, "if the dispositive factor in the IRS'
analysis of when a tax is 'incurred' turns on a[] fixed or
inescapable liability, then the estate would be liable for all
taxes of the [Debtor] – both pre-petition and post-petition –
and elevate all of those taxes to administrative expense priority
treatment.”[xxx]

Again, the D-Court disagreed, pointing out that, under this
analysis, taxes for years ending on or before the petition date
would not be accorded administrative expense treatment, and the
attendant priority.[xxxi] What's more, the D-Court explained, there
was no support for the position that Congress intended to make
straddle-year taxes entirely post-petition claims. Rather,
underlying substantive tax law would determine whether and when
taxes were "incurred by the estate" for purposes of the BC's
priority rules.[xxxii]

Based on the Code, federal corporate income tax liability accrues
and becomes a fixed liability on the last day of the tax period –
December 31, 2015 in this case.

Accordingly, the income tax at issue in the IRS's claim was
incurred by Debtor’s estate post-petition, and the tax should be
entitled to priority as an administrative expense. With that, the
B-Court was reversed.

Looking Ahead

It remains to be seen how the large number of bankruptcy filings
already triggered by the COVID-19 economic slowdown will ultimately
be resolved, and what the impact thereof will be on the timing and
nature of an eventual recovery. Of course, future filings will also
have to be monitored.[xxxiii]

The outcome will depend in large part upon the hopefully
soon-to-be-enacted stimulus legislation, as well as upon the
passage of more targeted debt-relief legislation which has probably
not yet been drafted, let alone introduced.[xxxiv]

In the meantime, struggling businesses will have to do what is
necessary to survive. That includes planning for a possible
reorganization in bankruptcy, among the elements of which should be
the preservation of tax attributes[xxxv] that may enable the
business to reduce future income tax liabilities, and the reduction
of CODI the tax on which would further deprive the business of
needed liquidity.

Finally, the owners of a troubled business should consider their
own personal exposure as "responsible persons" for the failure of
the business to collect and/or remit federal and state employment
taxes[xxxvi] as well as state and local sales taxes.

The best way to ensure a timely and effective response to any of
these developments is for the business owners and their advisers to
regularly communicate with one another.[xxxvii]

________________________________________
[i] For example, the Paycheck Protection Program (PPP) loans under
the CARES Act. Provided certain conditions are satisfied, a PPP
loan will be forgiven; the amount forgiven, however, will not have
to be included by the borrower in its gross income as cancelation
of indebtedness income.
https://www.taxlawforchb.com/2020/04/tax-considerations-as-businesses-prepare-to-emerge-from-the-covid-19-shutdown/

Please note there were whisperings in Washington last week that an
agreement between the House and Senate on the next round of
stimulus legislation may allow businesses to deduct expenses that
were paid with PPP loan proceeds. The following may refresh your
memory:
https://www.taxlawforchb.com/2020/05/ppp-loan-forgiveness-and-the-denial-of-deductions-for-covered-expenses-whats-wrong-with-the-irss-position/

[ii] A case filed under Chapter 11 of the United States Bankruptcy
Code is often referred to as a "reorganization" bankruptcy.

A Chapter 11 case begins with the filing of a petition with the
Bankruptcy Court. A petition may be a voluntary petition, which is
filed by the debtor, or it may be an involuntary petition, which is
filed by creditors that meet certain criteria.

The voluntary petition will include standard information concerning
the debtor, including the location of its principal assets, the
debtor's reorganization plan, and a request for relief under the
Bankruptcy Code.

Upon filing a voluntary petition for relief under Chapter 11 or, in
an involuntary case, the entry of an order for relief, the debtor
automatically assumes an additional identity as the "debtor in
possession." The term refers to a debtor that keeps possession and
control of its assets while undergoing a reorganization under
chapter 11, without the appointment of a trustee. A debtor will
remain a debtor in possession until the debtor's plan of
reorganization is confirmed, the debtor's case is dismissed or
converted to Chapter 7, or a Chapter 11 trustee is appointed.

Generally, a written disclosure statement and a plan of
reorganization must be filed with the court. The disclosure
statement is a document that must contain information concerning
the assets, liabilities, and business affairs of the debtor
sufficient to enable a creditor to make an informed judgment about
the debtor's plan of reorganization.
https://www.uscourts.gov/services-forms/bankruptcy/bankruptcy-basics/chapter-11-bankruptcy-basics.

The U.S. trustee is responsible for overseeing the administration
of bankruptcy cases. The U.S. Trustee may also impose certain
requirements on the debtor in possession concerning matters such as
reporting its monthly income and operating expenses.

Creditors' committees can play a major role in Chapter 11 cases.
The committee is appointed by the U.S. trustee and ordinarily
consists of unsecured creditors who hold the seven largest
unsecured claims against the debtor. Among other things, the
committee: consults with the debtor in possession on administration
of the case; investigates the debtor's conduct and operation of the
business; and participates in formulating a plan.

[iii]
https://www.globenewswire.com/news-release/2020/07/03/2057391/0/en/Chapter-11-U-S-Commercial-Bankruptcies-up-43-in-June.html

[iv]
https://www.abi.org/newsroom/press-releases/may-commercial-chapter-11s-increase-48-percent-over-last-year-total-filings

[v]
https://www.wsj.com/articles/chapter-11-business-bankruptcies-rose-26-in-first-half-of-2020-11593722250

[vi] See, for example, the April 23, 2020 letter from the National
Bankruptcy Conference to the House and Senate “leadership.”

[vii] In particular, IRC Sec. 108.

[viii] Remember IRC Sec. 108(i)? It allowed the deferred
recognition of CODI realized in 2009 and 2010 (i.e., in connection
with the Great Recession).

[ix] See IRC Sec. 108(b) and Sec. 1017; for example, the adjusted
basis of the taxpayer’s property and its loss carryforwards.

[x] Their hands are full at the moment. Worse yet, we’re
approaching the political rutting season.

[xi] Let's face it, this virus continues to evolve, and people are
starting to behave badly after many weeks of house-quarantine. The
effects of the confluence of these factors will probably come to
light later this year.
https://www.hopkinsmedicine.org/health/conditions-and-diseases/coronavirus/first-and-second-waves-of-coronavirus

[xii] For example, those in the real estate industry, where debt
financing is a way of life. These folks have already been hit
pretty hard. Social distancing and, even more so, the advent of
remote working do not bode well for the future of office buildings.
Amazon and its kind have been like a punch in the gut for most
bricks-and-mortar retailers and their landlords. Biden wants to
eliminate the like kind exchange.

[xiii] In re Affirmative Insurance Holdings Inc., No. 15-12136-CSS
(D. Del. July 27, 2020).

[xiv] 11 USC Sec. 507(a).
I find myself in a quandary. There are codes and then there are
Codes. I have rarely, if ever, accorded the Bankruptcy code the
honor of a capital "C" – sorry, Kristina – that distinction
belongs to the Internal Revenue Code, at least insofar as U.S. law
is concerned.

Justinian's Code, which formed the basis for many of Europe's civil
law jurisdictions, also merits the initial cap "C". Query why
today's students learn nothing of the more than one thousand years
of Byzantine history?

[xv] Under Chapter 7, the case trustee administers the bankruptcy
case and liquidates the debtor's assets in a manner that maximizes
the return to the debtor's unsecured creditors. (The secured
creditors are already provided for.) The trustee accomplishes this
by selling the debtor’s property if it is free and clear of liens
or if it is worth more than any security interest or lien attached
to the property. The trustee may also attempt to recover money or
property from third parties (to which the debtor has made payments)
under the trustee's "avoiding powers."
https://www.taxlawforchb.com/2017/12/revoking-s-corp-status-a-fraudulent-conveyance/

The BC governs the distribution of the property of the estate
(i.e., the sale proceeds). The BC prioritizes several classes of
claims; each class must be paid in full before the next lower class
is paid anything. The debtor is only paid if all other classes of
claims have been paid in full.

For example, higher priority is accorded to "administrative
expenses," including the actual, necessary costs and expenses of
preserving the estate; lower priority is accorded to unsecured
claims for income taxes owing for a taxable year ending on or
before the date of filing of the petition. See BC Sec. 507(a)(2),
503(b)(1)(B)(i), and 507(a)(8)(A).

[xvi] On IRS Form 1120.

[xvii] BC Sec. 507(a)(8).

[xviii] Commencement of a bankruptcy case creates an "estate." The
estate technically becomes the temporary legal owner of all the
debtor’s property. It consists of all legal or equitable
interests of the debtor in property as of the commencement of the
case, including property owned or held by another person if the
debtor has an interest in the property. BC Sec. 541.

[xix] For example, employment taxes with respect to wages paid.

[xx] You know the one I mean. Right? Don’t make me come over
there.

[xxi] BC Sec. 503(b).

[xxii] Bankruptcy policies, Trustee argued, require treating the
pre-petition portion of a debtor's tax liability for the year of
bankruptcy as a pre-petition claim. The BC broadly defines a
"claim" to include unliquidated, contingent and unmatured
obligations. While applicable non-bankruptcy law determines whether
a claimant has a substantive right to payment, when a claim arises
for bankruptcy purposes, Trustee argued, is a question of federal
bankruptcy law.

[xxiii] IRC Sec. 3101 and 3111; Reg. Sec. 31.3101-3 and 31.3111-3.
See also BC Sec. Sec. 507(a)(8)(D), which gives priority to "an
employment tax on a wage, salary, or commission … earned from the
debtor before the [petition date], whether or not actually paid
before such date, for which a return is last due … after three
years [before the petition date]."

[xxiv] That being said, the Court observed that the time of
assessment or payment may not be equivalent to the time the tax is
incurred for the purpose of establishing priority under the BC.
Rather, the significant fact may be the date the tax accrues.

In fact, the date a federal income tax accrues and the assessment
date are not the same. Assessment usually follows the filing of a
tax return several months after the end of the tax year. Assessment
is the determination of liability and the administrative act that
allows collection when payment is not made. IRC Sec. 6201.

[xxv] IRC Sec. 11(a). "A tax is hereby imposed for each taxable
year on the taxable income of every corporation."

[xxvi] IRC Sec. 61(a) and Sec. 63(a).

[xxvii] See Reg. Sec. 1.11-1(e), providing an example of
computation of liability.

[xxviii] IRC Sec. 441(b)(1). Until midnight on December 31, a
corporation can still, for example, incur operating expenses or
make charitable donations that will eliminate any liability that
would otherwise arise from income earned during the preceding
twelve months.

[xxix] IRC Sec. 441(a): "Taxable income shall be computed on the
basis of the taxpayer’s taxable year."

[xxx] Indeed, the IRS argued that Congress intended to make
straddle year taxes entirely post-petition administrative claims.
The BC, it stated, has always given preferential treatment to taxes
the government has not had a reasonable time to assess or collect,
as the taxing authority is an involuntary creditor. Because
Debtor’s straddle tax year ended after the petition date, the IRS
had no opportunity to collect the tax pre-petition, as any such tax
by definition cannot come due until after the petition date.

[xxxi] BC Sec. 507(a)(8)(A).

[xxxii] The D-Court agreed that the distinction between income
taxes, on the one hand, and other taxes which accrue upon the
occurrence of certain transactions or events, on the other, is
recognized in both the BC and the Code. The key is that a
determination of when a specific tax accrues and becomes a fixed
liability – i.e., is "incurred" for purposes of determining its
priority under the BC – must be made in accordance with the
substantive tax law.

[xxxiii] There is a silver lining here. These filings may present
healthier businesses an opportunity to acquire assets and
customers, hire key employees, eliminate competitors, establish new
locations, etc.

For others, the news may not be as sanguine. The loss of a vendor
or of a customer may have serious consequences for an otherwise
healthy business.

The loss of a debtor may qualify a lender for a bad debt deduction.
IRC Sec. 166.

[xxxiv] The fact that we find ourselves in the midst of a very
abrasive and divisive election season is unfortunate to say the
least.

Let's not forget, however, that this country has come through
presidential elections under much more dire circumstances. How
about the election of 1864?

[xxxv] For example, net operating losses.

[xxxvi] The employee's share thereof.

[xxxvii] To quote Austin Powers, "Okay, people, you have to tell me
these things, alright? I've been frozen for 30 years, okay? Throw
me a freakin' bone here. I'm the boss. Need the info." The Spy Who
Shagged Me.





[^] BOOK REVIEW: The Rise and Fall of the Conglomerate Kings
------------------------------------------------------------
Author:     Robert Sobel
Publisher:  Beard Books
Softcover:  240 pages
List Price: $34.95
Review by David Henderson

Order your personal copy today at http://is.gd/1GZnJk

The marvelous thing about capitalism is that you, too, can be a
Master of the Universe.  If you are of a certain age, you will
recall that is the name commandeered by Wall Street bond traders in
their Glory Days.  Being one is a lot like surfing: you have to
catch the crest of the wave just right or you get slammed into the
drink, and even the ride never lasts forever.  There are no Endless
Summers in the market.

This book is the behind-the-scenes story of the financial wizards
and bare-knuckled businessmen who created the conglomerates, the
glamorous multi-form companies that marked the high noon of
post-World War II American capitalism.  Covering the period from
the end of the war to 1983, the author explains why and how the
conglomerate movement originated, how it mushroomed, and what
caused its startling and rapid decline.  Business historian Robert
Sobel chronicles the rise and fall of the first Masters of the
Universe in the U.S. and describes how the era gave rise to a cadre
of imaginative, bold, and often ruthless entrepreneurs who took
advantage of a buoyant stock market to create giant enterprises,
often through the exchange of overvalued paper for real assets.  He
covers the likes of Royal Little (Textron), Text Thornton (Litton
Industries), James Ling (Ling-Temco-Vought), Charles Bludhorn (Gulf
& Western) and Harold Geneen (ITT).  This is a good read to put the
recent boom and bust in a better perspective.

While these men had vastly different personalities and processes,
they had a few things in common: ambition, the ability to seize
opportunities that others were too risk-averse to take, willing
bankers, and the expansive markets of the 1960s.  There is
something about an expansive market that attracts and creates
Masters of the Universe.  The Greek called it hubris.

The author tells a good joke to illustrate the successes and
failures of the period.  It seems the young son of a Conglomerateur
brings home a stray mongrel dog.  His father asks, "How much do you
think it's worth?" To which the boy replies, "At least $30,000."
The father gently tries to explain the market for mongrel dogs, but
the boy is undeterred and the next afternoon proudly announces that
he has sold the dog for $50,000.  The father is proudly
flabbergasted,  "You mean you found some fool with that much money
who paid you for that dog?"  "Not exactly," the son replies, "I
traded it for two $25,000 cats."

While it lasted, the conglomerate struggles were a great slugfest
to watch: the heads of giant corporations battling each other for
control of other corporations, and all of it free from the rubric
of "synergy."  Nobody could pretend there was any synergy between
U.S. Steel and Marathon Oil.  This was raw capitalist power at
work, not a bunch of fluffy dot.commies pretending to defy market
gravity.

History repeats itself, endlessly, because so few people study
history.  The stagflation of the 1970s devalued the stock of
conglomerates and made it useless a currency to keep the schemes
afloat.  The wave crashed and waiting on the horizon for the next
big wave: the LBO Masters of the 1980s.

Robert Sobel was born in 1931 and died in 1999.  He was a prolific
chronicler of American business life, writing or editing more than
50 books and hundreds of articles and corporate profiles.  He was a
professor of business history at Hofstra University for 43 years
and he a Ph.D. from NYU.



                            *********

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