/raid1/www/Hosts/bankrupt/TCR_Public/201012.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Monday, October 12, 2020, Vol. 24, No. 285

                            Headlines

121 LANGDON STREET: May Use Cash Collateral Thru Nov. 12
2017 IAVF WINDY: Case Summary & Unsecured Creditors
24 HOUR FITNESS: Files Plan to Hand Equity to Lenders
4920 LOUGHBORO: Seeks to Hire Palisades Brokerage as Listing Agent
ADVAXIS INC: Aratana Notifies Termination of License Agreement

AEROGROUP INT'L: Bankruptcy Court's Allocation Order Upheld
ALPHA GUARDIAN: Force 10, Garman Tout Successful Case
AMADUES DEVELOPMENT: Trustee Selling Potomac Property for $510K
AMERICANN INC: Nearly Doubles Quarterly Revenue
API GROUP: S&P Rates $250MM Senior Secured Term Loan 'BB-'

APPLIED DNA: OKs Compensatory Arrangement for Three Executives
APPROACH RESOURCES: Seeks Plan Exclusivity Extension Thru Oct. 28
ARCHDIOCESE OF NEW ORLEANS: Solvent, Filed in Bad Faith, Says Panel
ASCENT RESOURCES: Moody's Hikes CFR to B2; Alters Outlook to Stable
ASTRIA HEALTH: Reaches Settlement With WSNA on Regional Closure

AVIANCA HOLDINGS: Says It Now Has Ample Cash to Support Operations
AVINGER INC: Sets Annual Meeting of Stockholders for Dec. 10
AVIVAR HOSPITALITY: Seeks to Hire Moon Wright as Counsel
B-LINE CARRIERS: Hires Suncoast CPA as Accountant
BC CHALET: Seeks to Hire Shilliday Law as Legal Counsel

BHF CHICAGO: Seeks to Hire Clark Hill as Bankruptcy Counsel
BHF CHICAGO: Seeks to Hire Hilco Real Estate as Broker
BIONIK LABORATORIES: Files Amended Certificate of Incorporation
BLUE RACER: Fitch Lowers LT IDR to B+ & Alters Outlook to Stable
BLUESTEM BRANDS: Court Approves Chapter 11 Plan

BOY SCOUTS OF AMERICA: Case Tangled Up Over Claims, Depositions
BOY SCOUTS: Court Tells Firms to Stop False Chapter 11 Ads
BOY SCOUTS: Court Tells Victims Coalition to Release Docs
BRIGHTSTAR CORP: S&P Assigns 'B-' ICR on Leveraged Buyout
BUZZ FINCO: S&P Cuts Secured Debt Rating to 'B' on Add-On Term Loan

CAH ACQUISITION 12: Plan Exclusivity Extended to December 1
CAH ACQUISITION 16: Plan Exclusivity Extended to November 17
CAH ACQUISITION 6: Plan Exclusivity Extended to November 21
CAH ACQUISITION 7: Plan Exclusivity Extended to November 21
CHESAPEAKE ENERGY: In Fight With FERC Over Pipe Contracts

CHESAPEAKE ENERGY: Sets Sale Process for Mid-Con Assets
CHESAPEAKE ENERGY: Wins Court OK for Ch. 11 Exit Financing
CHUCK E. CHEESE: Drops Sale Plans for Debt-for-Equity Swap
CLARE OAKS: Reaches Deal With Bondholders on Plan
COMCAR INDUSTRIES: Wins December 14 Plan Exclusivity Extension

COMPASS MINERALS: S&P Alters Outlook to Stable, Affirms 'BB-' ICR
COMSTOCK MINING: Monetizes Preferred Stock & Reduces Debt by $2M
COVENANT COMMUNITIES, WI: S&P Cuts 2018B Bond Rating to 'BB+ (sf)'
CPI CARD: Compensation Committee OKs RSU and Retention Agreements
CWGS ENTERPRISES: S&P Upgrades ICR to 'B'; Outlook Positive

DEAN FOODS: DFA Ordered to Divest De Pere Location
DESTINATION HOPE: Hires Ms. Goodman of GGG Partners as CRO
DIAMOND COACH: Case Summary & 20 Largest Unsecured Creditors
DIOCESE OF ROCKVILLE CENTRE: Legal-Bay Touts Loans for Settlements
DOC'S CHOICE: Seeks to Hire Herron Hill Law as Attorney

EAL LLC: Seeks to Hire Mullin Hoard & Brown as Counsel
EBONY MEDIA: Consents to Chapter 11 Bankruptcy
EBONY MEDIA: Headed for Auction With $14M Opening Bid
FALLS EVENT: Trustee Selling Beaverton Property to Urban for $1.33M
FALLS EVENT: Trustee Selling TFCR & TFSO Real Properties for $17.5K

FB BR HOLDINGS: Fitch Affirms B- LongTerm IDR, Outlook Negative
FIRST TO THE FINISH: Case Summary & 19 Unsecured Creditors
FRONTIER COMMUNICATIONS: CWA & TURN Question Fiber Assets Splitting
GAVILAN RESOURCES: Court OKs $40 Million Ch. 11 Sale to Mesquite
GECKO PARKS: Seeks to Hire Van Horn Law as Counsel

GENCANNA GLOBAL: Selling Warehouse Building in Paduca, Ky.
GENCANNA GLOBAL: Suesd Insurers for Failure to Respond to Fire Clai
GERASIMOS ALIVIZATOS: Widdowsons Buying Ocean City Propty for $405K
GLOBAL ASSET: Keg Rental Company in Chapter 11 Due to Pandemic
GLOBAL EAGLE: Creditor Objects to Latham & Watkins' $2.4M Fee

GRUPO AEROMEXICO: $ Billion DIP Financing Has Final Approval
GRUPO AEROMEXICO: Draws Initial $200M From DIP Financing
GULFSLOPE ENERGY: Modifies Terms of Outstanding Debentures
HYTERA COMMUNICATIONS: Plan Exclusivity Period Extended Thru Jan.
IFM COLONIAL 2: Fitch Withdraws 'BB+' LT Issuer Default Rating

INSPIREMD INC: Appoints Vice President of Business Development
INTEGRATED DENTAL: Case Summary & 17 Unsecured Creditors
INTERSTATE COMMODITIES: Hires Forchelli Deegan as Counsel
J.JILL INC: Appoints New CEO as It Dodges Bankruptcy
J.JILL INC: Considered Among "Most Vulnerable" Retailers

JACE & ACE: Unsecureds to Get 10% in 5 Years Under Plan
JETBLUE: Fitch Lowers LongTerm IDR to BB-, Outlook Negative
KEYSTONE ACQUISITION: S&P Lowers ICR to 'B-' on Higher Leverage
LAS VEGAS MONORAIL: Hires Ballard Rawson as Special Counsel
LATAM AIRLINES: Wins Shorter Plan Exclusivity Extension

LATIN AMERICAN MONTESSORI: S&P Rates 2020 Revenue Bonds 'BB+'
LEVEL SOLAR: Court Confirms Liquidation Plan
LIVEXLIVE MEDIA: Appoints Jerome Gold as Interim CFO
MADDOX FOUNDRY: Case Summary & 10 Unsecured Creditors
MALLINCKRODT: Nears Deal to Hand Majority Ownership to Bondholders

MARYLAND ECONOMIC: Moody's Cuts $118MM Revenue Bonds to Ba1
MGM RESORT: Moody's Rates New $500MM Sr. Unsec. Notes Ba3
MID-ATLANTIC SYSTEMS: Hires Wiedeman & Douty as Accountant
MLH HOMES: Seeks to Hires Wiggam & Geer as Legal Counsel
MODELL'S SPORTING: Gets Court OK for Liquidation Plan Creditor Vote

NATIONAL MEDICAL: 3rd Circuit Will Rehear Bad-Faith Bankruptcy Bid
NEP/NCP HOLDCO: Moody's Ups CFR to Caa1 & Alters Outlook to Pos.
NEPHROS INC: Expects Third Quarter Revenues of $2.1 Million
NEW RESIDENTIAL: DBRS Assigns B(high) LongTerm Issuer Rating
OMAGINE INC: Plan Exclusivity Extended Thru December 7

ONEWEB GLOBAL: Taps KPMG LLP to Provide Audit Services
OPTION CARE: Increases 2019 ABL Facility by $25 Million
PATRICK JAMES: Case Summary & 20 Largest Unsecured Creditors
PAYLESS SHOESOURCE: Drops "Shoesource", Back in Business
PEABODY ENERGY: Climate Tort Claims Dischargeable in Bankruptcy

PLUS THERAPEUTICS: Signs $25 Million Stock Purchase Agreement
PORTO RESOURCES: Selling New York Property for $1.2 Million Cash
PRIMO WATER: Moody's Rates New EUR450MM Unsec. Notes 'B1'
PROTECTIVE POWER: Voluntary Chapter 11 Case Summary
PSS INDUSTRIAL: Moody's Cuts CFR to Caa2 & Alters Outlook to Neg.

PUT 'R UP: Seeks to Hire Bruner Wright as Counsel
PYXUS INTERNATIONAL: Emerges from Chapter 11 Bankruptcy
PYXUS INTERNATIONAL: Joint Prepackaged Plan Confirmed by Judge
QUIRCH FOODS: S&P Assigns 'B' Issuer Credit Rating; Outlook Stable
RANDOPH HOSPITAL: Reveals New Buyer Agreement for Hospital Assets

REAL ESTATE RECOVERY: Case Summary & 4 Unsecured Creditors
ROCHESTER DRUG COOP: Berger Montague Drops Case Representation
ROUGH COUNTRY: S&P Affirms 'B' ICR on Debt-Financed Dividend
RUBY TUESDAY: Goldman, TCW to Take Over Absent Bids
RUBY TUESDAY: Lines Up $18.5M Bankruptcy Loan, Lays Out Sale Plans

SAVOY FINANCIAL: Seeks to Hire Bankruptcy Attorney
SCIENTIFIC GAMES: Inks 7th Amendment to Credit Agreement
SEADRILL LTD: CFO Stuart Jackson Replaces Dibowitz as CEO
SEADRILL LTD: Extends Forbearance Agreements to Oct. 31
SHILOH INDUSTRIES: Hires Houlihan Lokey as Investment Banker

SHILOH INDUSTRIES: Hires Richards Layton as Co-Counsel
SHILOH INDUSTRIES: Seeks to Hire Jones Day as Counsel
SLT HOLDCO: Second Avenue Gave $35M Financing to Buyer
SLT HOLDCO: To Liquidate Remaining Assets, Pay Lenders
SNFW FITNESS: Now Bankrupt; Buyer Not Using Name

STANTON GOLF: Case Summary & Unsecured Creditor
STANTON RIDGE: Case Summary & 3 Unsecured Creditors
STAR DETECTIVE & SECURITY: May Use Cash Collateral Thru Nov. 30
TAILORED BRANDS: Gets Court OK to Send Exit Plan to Creditors
TAKATA CORP: Court Tosses Chapter 11 Air Bag Claims

TECH DATA: S&P Lowers Senior Unsecured Debt Rating to 'B+'
TENSAR CORP: S&P Places 'CCC' ICR on Watch Developing
TERRAVION INC: Seeks to Hire Dunlap Bennett as Counsel
THOMAS R. MCCONNELL: Viswam Buying Muncie Property for $164K
TMK HAWK: S&P Downgrades ICR to 'SD' on Distressed Exchange

TOWN SPORTS: Several Locations in Massachusetts Close
TRC FARMS: Solicitation Period Extended Thru Nov. 18
TWIN RIVER: Moody's Assigns B2 Corp. Family Rating, Outlook Neg.
ULTRA PETROLEUM: Court OKs Plan Despite Shareholders Objections
ULTRA PETROLEUM: Successfully Emerges From Chapter 11 Bankruptcy

UNITI GROUP: S&P Raises ICR to 'B-'; Outlook Negative
USF COLLECTIONS: Seeks to Hire Gilbert A. Lazarus, PLLC as Attorney
UTEX INDUSTRIES: Case Summary & 30 Largest Unsecured Creditors
VILLAGE EAST: Court Extends Plan Exclusivity Thru November 5
VIZIV TECHNOLOGIES: Involuntary Chapter 11 Case Summary

WORLD CLASS: Four More Entities File for Chapter 11
YAGER ENTERPRISES: Selling 2 Papa John's Franchises for $606K
[*] Bill Proposes Sweeping Changes to Protect Workers in Chapter 11
[*] Philadelphia Firms That Laid Off Workers in September
[*] Restructuring Insolvent Business With Chapter 11 Filing

[^] BOND PRICING: For the Week from October 5 to 9, 2020

                            *********

121 LANGDON STREET: May Use Cash Collateral Thru Nov. 12
--------------------------------------------------------
Judge Catherine J. Furay of the U.S. Bankruptcy Court for the
Western District of Wisconsin has authorized 121 Langdon Street
Group LLP to use cash collateral pursuant to the budget which is
attached to the Second Stipulation for Order Authorizing Use of
Cash Collateral and Providing Adequate Protection that the Debtor
entered into with Midland States Bank and Lokre Development
Company.

The Court also authorized the Debtor to pay quarterly fees owed to
the U.S. Trustee pursuant to 28 U.S.C. section 1930(A)(6), and pay
other fees, expenses and obligations as approved by the Court after
Notice and Hearing for the period up and through November 12.

The Debtor will make monthly payments to Midland States Bank in the
amount of $9,900.16 and to Lokre Development Company in the amount
of $1,622.10 commencing the first day of September.

Midland and Lokre will be granted replacement liens on all
post-Petition rents and proceeds of collateral pursuant to 11
U.S.C. section 361(2). The Debtor will also maintain adequate
insurance coverage on all property and assets, and adequately
insure against any potential loss.

A copy of the order is available at https://bit.ly/32DmKxx from
PacerMonitor.com.

               About 121 Langdon Street Group LLP

121 Langdon Street Group, LLP, is a privately held company whose
principal assets are located at 121 Langdon St., Madison, Wis.  121
Langdon Street Group filed a voluntary petition under Chapter 11 of
the Bankruptcy Code (Bankr. W.D. Wis. Case No. 20-10125) on Jan.
17, 2020.  In the petition signed by Harold Langhammer, partner,
the Debtor was estimated to have $1 million to $10 million in both
assets and liabilities.  

Judge Catherine J. Furay oversees the case.  

Timothy J. Peyton, Esq., represents the Debtor.


2017 IAVF WINDY: Case Summary & Unsecured Creditors
---------------------------------------------------
Four affiliates that concurrently filed voluntary petitions for
relief under Chapter 11 of the Bankruptcy Code:

    Debtor                                        Case No.
    ------                                        --------
    2017 IAVF Windy City Fox Run LLC (Lead Case)  20-18377
    115, 135, 145, 155 and 225 Walnut Drive
    St. Charles IL 60174

    2017 IAVF Windy City Parkside LLC             20-18379
    16 North Parkside Avenue
    Glen Ellyn, IL 60137

    2017 IAVF Windy City Shaddle LLC              20-18380
    40 South Shaddle Avenue
    Mundelein, IL 60060

    2017 IAVF Windy City Villa Brook LLC          20-18381
    103-195 South Villa Avenue
    Addison, IL 60101

Chapter 11 Petition Date: October 7, 2020

Court: United States Bankruptcy Court
       Northern District of Illinois

Judge: Hon. Carol A. Doyle

Debtors' Counsel: Kevin H. Morse, Esq.
                  CLARK HILL PLC
                  130 E. Randolph, Suite 3900
                  Chicago, IL 60601
                  Tel: (312) 985-5556
                  Email: kmorse@clarkhill.com

2017 IAVF Windy City Fox Run's
Estimated Assets: $10 million to $50 million

2017 IAVF Windy City Fox Run's
Estimated Liabilities: $50 million to $100 million

2017 IAVF Windy City Parkside's
Estimated Assets: $10 million to $50 million

2017 IAVF Windy City Parkside's
Estimated Liabilities: $50 million to $100 million

2017 IAVF Windy City Shaddle's
Estimated Assets: $10 million to $50 million

2017 IAVF Windy City Shaddle's
Estimated Liabilities: $50 million to $100 million

2017 IAVF Windy City Villa's
Estimated Assets: $10 million to $50 million

2017 IAVF Windy City Villa's
Estimated Liabilities: $50 million to $100 million

The petitions were signed by Andrew Belew, president, Better
Housing Foundation, Inc., as manager.

A. List of 2017 IAVF Windy City Fox Run's 20 Largest Unsecured
Creditors:

   Entity                          Nature of Claim    Claim Amount
   ------                          ---------------    ------------
1. UMB Bank, N.A., as Successor                        $43,480,000
Trustee
c/o Michael Slade
120 6th Street, Suite 1400
Minneapolis, MN 55402

2. Aurelia Reyes and               Security Deposit           $536
Gontran Santamaria               for Rental Property
2026 Wessel Ct.
St. Charles, IL 60174

B. 2017 IAVF Windy City Parkside lists UMB Bank, N.A., as Successor
Trustee, as its sole unsecured creditor holding a claim of
$45,535,437.

C. List of 2017 IAVF Windy City Shaddle's Two Unsecured Creditors:


   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
1. UMB Bank, N.A., as                                 $48,765,437
Successor Trustee
c/o Michael Slade
120 6th Street, Suite 1400
Minneapolis, MN 55402

2. COMED                              Trade Debt             $693
PO Box 6111
Carol Stream, IL 60197-6111

D. List of 2017 IAVF Windy City Villa's Three Unsecured Creditors:


   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
1. UMB Bank, N.A., as                                 $47,960,437
Successor Trustee
c/o Michael Slade
120 6th Street, Suite 1400
Minneapolis, MN 55402

2. Nicor Gas                                                 $511
PO BoX 5407
Carol Stream, IL 60197-5407

3. Rentmeester, Joseph                                        $427
516 S. Fairfield Ave.
Lombard, IL 60148

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

https://www.pacermonitor.com/view/E3PGRZY/na_2017_IAVF_Windy_City_Fox_Run__ilnbke-20-18377__0001.0.pdf?mcid=tGE4TAMA

https://www.pacermonitor.com/view/FDSEKWQ/NA_2017_IAVF_Windy_City_Parkside__ilnbke-20-18379__0001.0.pdf?mcid=tGE4TAMA

https://www.pacermonitor.com/view/PF5FPXQ/2017_IAVF_Windy_City_Shaddle_LLC__ilnbke-20-18380__0001.0.pdf?mcid=tGE4TAMA

https://www.pacermonitor.com/view/TCKLYQQ/2017_IAVF_Windy_City_Villa_Brook__ilnbke-20-18381__0001.0.pdf?mcid=tGE4TAMA


24 HOUR FITNESS: Files Plan to Hand Equity to Lenders
-----------------------------------------------------
Leslie A. Pappas of Bloomberg Law reports that bankrupt gym
operator 24 Hour Fitness Worldwide Inc. proposed in its Chapter 11
case a plan to reduce its funded debt by about $1.2 billion and
hand over all of reorganized company equity to its lenders.

According to the report, a group of lenders that provided
bankruptcy financing—including Sculptor Capital Investments LLC,
Monarch Alternative Capital LP, and Cyrus Capital Partners
LP—would receive their pro-rata share of 95% of new common equity
interests in the reorganized parent company, according to 24 Hour
Fitness' court filings. Second-lien lenders that are owed $690.7
million under a pre-bankruptcy credit facility would get the
remaining 5%.

                  About 24 Hour Fitness Worldwide

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.


4920 LOUGHBORO: Seeks to Hire Palisades Brokerage as Listing Agent
------------------------------------------------------------------
4920 Loughboro Rd, LLC seeks authority from the U.S. Bankruptcy
Court for the District of Columbia to hire Andrew O'Neill of
Palisades Brokerage to perform commercial real estate listing
services.

Palisades is experienced in listing commercial real estate for sale
and shall assist the Debtor in selling the property located at 4920
Loughboro Rd. NW, Washington D.C. 20016.

Palisades will earn a commission of 5 percent of the sale price
upon closing of a sale of the Property.

Mr. O'Neill assured the court that the firm is a disinterested
person within the meaning of 11 U.S.C. Sec. 327.

The firm can be reached through:

     Andrew O'Neill
     Palisades Brokerage
     6106 Macarthur Blvd, Suite 110
     Bethesda, MD 20816
     Phone: (301) 801-1166

                      About 4920 Loughboro Rd

4920 Loughboro Rd LLC is a single asset real estate (as defined in
11 U.S.C. Section 101(51B)).

4920 Loughboro Rd filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. D. Colo. Case No.
20-00318) on July 27, 2020.  Hicham Moutawakil, owner, signed the
petition.  At the time of filing, Debtor estimated $500,000 to $1
million in assets and $1 million to $10 million in liabilities.

Judge S. Martin Teel Jr. oversees the case.

Ashvin Pandurangi, Esq., at Vivona Pandurangi, PLC, represents
Debtor as legal counsel.


ADVAXIS INC: Aratana Notifies Termination of License Agreement
--------------------------------------------------------------
Advaxis, Inc., received a notice from Aratana Therapeutics, Inc.,
dated Sept. 17, 2020, indicating that Aratana is terminating the
Exclusive License Agreement, dated March 19, 2014, by and between
Aratana and the Company and that such termination of the Agreement
will be effective on Dec. 21, 2020.  Other than in respect of the
Agreement, there is no material relationship between the Company
and Aratana.

Under the Agreement, the Company granted Aratana an exclusive,
worldwide, royalty-bearing license, with the right to sublicense,
certain of the Company's proprietary technology to enable Aratana
to develop and commercialize animal health products targeted for
treatment of osteosarcoma and other cancer indications in animals.
Aratana paid an upfront payment to the Company in the amount of $1
million upon signing of the Aratana Agreement.  The Agreement also
required Aratana to pay the Company (a) up to $36.5 million based
on the achievement of milestones relating to the advancement of
products through the approval process with the United States
Department of Agriculture in the United States and the relevant
regulatory authorities in the European Union, and up to an
additional $15 million in cumulative sales milestones based on
achievement of gross sales revenue targets for sales of any and all
products for use in non-human animal health applications, or the
Aratana Field (regardless of therapeutic area), and (b) tiered
royalties starting at 5% and going up to 10%, paid based on net
sales of any and all products (regardless of therapeutic area) in
the Aratana Field in the United States.  The Agreement required
royalties for sales of products outside of the United States to be
paid at a rate equal to half of the royalty rate payable by Aratana
on net sales of products in the United States (starting at 2.5% and
going up to 5%).  The Agreement also required Aratana to pay the
Company 50% of all sublicense royalties received by Aratana and its
affiliates.  In fiscal year 2019, the Company received
approximately $8,000 in royalty revenue from Aratana.

The Notice of termination follows Aratana's acquisition by Elanco
Animal Health Incorporated, effective July 18, 2019.

The Company will not incur any early termination penalties as a
result of the termination.  Aratana will be required to make all
payments to the Company that would have otherwise been payable
under the Agreement through the effective date of the termination.

                        About Advaxis Inc.

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

Advaxis reported a net loss of $16.61 million for the year ended
Oct. 31, 2019, compared to a net loss of $66.51 million for the
year ended Oct. 31, 2018.  As of July 31, 2020, the Company had
$40.02 million in total assets, $8.55 million in total liabilities,
and $31.47 million in total stockholders' equity.

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


AEROGROUP INT'L: Bankruptcy Court's Allocation Order Upheld
-----------------------------------------------------------
The case captioned POLK 33 Lending, LLC, Appellant, v. THE
CORPORATE FINANCE, INC., Appellee, C.A. No. 19-648 (MN) (D. Del.)
is an appeal by Polk 33 Lending, LLC of the Bankruptcy Court's
March 26, 2019 decision and accompanying Order in the chapter 11
cases of Debtors Aerogroup International, Inc. and certain
affiliates. By the Allocation Decision and Order, the Honorable
Kevin J. Carey allocated proceeds from the Debtors' 11 U.S.C.
section 363 asset sale between two lenders with competing secured
claims -- appellant Polk and appellee THL Corporate Finance, Inc.

Upon review, District Judge Maryellen Noreika held that the
Bankruptcy Court correctly rejected Polk's argument that a
creditor's secured claim is capped by a credit bid that is
subsequently exceeded by a higher bid, and the Third Circuit
decisions cited by Polk do not compel a different outcome. Judge
Noreika found no basis to overturn the Bankruptcy Court's finding
that the THL Credit Bid was not a final bid. Accordingly, the Order
was affirmed.

Prior to filing the chapter 11 cases, the Debtors were a leading
manufacturer and retailer of women's footwear. On Sept. 15, 2017,
the Debtors commenced the chapter 11 cases by filing voluntary
petitions for relief under chapter 11 of the Bankruptcy Code.

The Debtors' outstanding obligations were held in a "split lien"
collateral structure for the benefits of THL, as administrative
agent for the Debtors' prepetition term loan lenders, and,
originally by Wells Fargo, N.A. as administrative agent for the
Debtors' prepetition revolver lenders. Following the Petition Date,
the Debtors filed a motion to approve a $25 million
debtor-in-possession financing facility from Polk. The proposed DIP
facility contemplated, in part, paying the Wells Fargo prepetition
indebtedness in return for Polk receiving a rolled-up,
post-petition super-priority administrative expense claim. THL
objected, the parties negotiated a consensual order, and, on
November 2, 2017, the Bankruptcy Court entered a final order
approving the DIP facility.

Pursuant to the Final DIP Order, Polk holds a first lien on all
"DIP Priority Collateral," which includes the Debtors' inventory
and working capital, and the proceeds therefore; THL holds a lien
on all "Term Priority Defined Collateral," which includes the
Debtors' intellectual property, goodwill, and all proceeds
therefrom.

On Feb. 15-16, 2018, the Debtors auctioned substantially all of
their assets. Parties represented at the Auction included THL,
Alden Global Capital, LLC, Aero IP Group, Polk, and the Debtors.
Approximately midway through the Auction, THL submitted a credit
bid for the Debtors' intellectual property alone, which was THL's
Term Priority Defined Collateral under the Final DIP Order; the bid
would leave in the estate other assets such as inventory and
accounts receivable. The most-recent pending bid at the time was a
bid by Aero IP for approximately $17,206,588 and that was a bid for
substantially all of the assets, including the intellectual
property, inventory, and accounts receivable. Although the face
amount of THL's claim was more than $24 million, THL did not credit
bid the full amount at that time. THL submitted only the minimum
incremental bid required under the bidding procedures, which was
$12,209,519. Although the THL Credit Bid was on its face less than
the Aero IP Bid, THL was bidding only on its collateral, and an
allocation of value was done by the Debtors to determine whether
the bid was higher or otherwise better. Shortly after THL's Credit
Bid, the Auction record was paused. During the recess, counsel for
the Debtors conferred with THL off the record. The Debtors asked
THL to refrain from bidding for a period of time while bidders
seeking to acquire the entire business built momentum. "THL agreed
to temporarily refrain from bidding, but reserved its right to
resume credit bidding if other bidders did not bid amounts
satisfactory to THL." After the Auction resumed, Alden and Aero IP
continued bidding. Ultimately, the Debtors selected Alden as having
made the highest and best bid at the Auction with a bid of
$26,175,000. The Debtors selected Aero IP's later bid of
approximately $20 million as the backup bid.

On Feb. 16, 2018, the Bankruptcy Court held a hearing and confirmed
the sale of the Debtors' assets to Alden. At the Sale Hearing, THL
noted that it did not believe the Aero IP Bid attributed sufficient
value to THL's collateral and reserved THL's right to credit bid
should the Alden Bid fail to close and the Debtors seek to
consummate the Aero IP Bid. Counsel for the Debtors acknowledged
that THL was "reserving [its] rights as [it] ha[d] done
throughout." On March 6, 2018, the sale to Alden closed, and the
proceeds from the sale were deposited in escrow.

On June 29, 2018 and July 13, 2018, the Bankruptcy Court held an
evidentiary hearing on several matters, including THL's Allocation
Motion. On March 26, 2019, the Bankruptcy Court issued its thorough
Allocation Decision and Order, in which, among other things, the
Bankruptcy Court allocated $16.8 million of the Sale Proceeds to
THL's Term Priority Defined Collateral and $7.45 million to Polk's
DIP Priority Collateral. As a factual matter, the Bankruptcy Court
held that the Debtors had asked THL to stop credit bidding so as
not to interfere with the active bidding of other cash bidders and
that "THL agreed to temporarily refrain from bidding, but reserved
its right to resume credit bidding if other bidders did not bid
amounts satisfactory to THL." "[T]he evidence show[ed] that THL's
credit bid was not a final offer." Aside from this appeal, all
issues related to the allocation and distribution of the Sale
Proceeds have been resolved.

On appeal, Polk argued that the portion of the Allocation Decision
fixing the value of THL's secured collateral at $16.8 million must
be vacated because that amount exceeds the $12.2 million amount
that THL, as a secured party, credit bid during the Debtors'
auction. According to Polk, Third Circuit precedent is clear that a
credit bid sets the value of a lender's secured interest in
collateral, regardless of whether that credit bid is ultimately the
successful bid at a public auction.

THL argued that, setting aside the lack of legal support for Polk's
theory, the Order must also be affirmed because Polk's theory is
based on the erroneous characterization of THL's credit bid as a
"final" bid when the Bankruptcy Court found otherwise. The Court
agreed.

Even assuming that the District Court were to adopt Polk's view
that a secured creditor caps its secured claim by making a credit
bid, regardless of whether that bid is successful, Polk's position
requires that the secured creditor's bid be a "final" bid. Indeed,
Polk frames one of the issues on appeal as whether THL's "final
credit bid" capped the value of its collateral.

The Bankruptcy Court held in the Summary Judgment Decision that
whether THL's credit bid was a "final" bid was a disputed issue of
material fact. The Bankruptcy Court later resolved that issue in
THL's favor in the Allocation Decision. The Bankruptcy Court found
that "the evidence show[ed] that THL's credit bid was not a final
offer," and that THL had "temporarily refrain[ed] from bidding, but
reserved its right to resume credit bidding if other bidders did
not bid amounts satisfactory to THL." The record supports this
finding.

The evidence showed that THL was prepared to continue making
further bids at the Auction, yet voluntarily chose not to do so
unless and until it became necessary to keep driving up the bidding
price at the auction to protect the value of its collateral.

By reserving THL's rights to credit bid in the event that the Alden
Bid failed, THL's credit bid was not "final."  The Debtors' counsel
also acknowledged at the Sale Hearing that THL reserved its rights
throughout the entire auction process and continued to reserve its
rights during the Sale Hearing. Moreover, counsel for the Debtors
confirmed THL's version of events in both a declaration and at the
Bankruptcy Court's June 12, 2018 telephonic hearing. At the
hearing, the Debtors' counsel stated that THL's counsel "is. . .
one hundred percent correct" in his recollection of the Auction
proceedings -- that the Debtors requested that THL refrain from
further credit bidding so that "[the Debtors] could get the auction
going."

According to Judge Noreika, if the Bankruptcy Court was incorrect
in holding that THL's credit bid was not a final bid, Polk has
failed to show how that factual determination was clearly
erroneous. The Court found no basis to overturn this factual
finding on appeal.

A copy of the Court's Memorandum Opinion is available at
https://bit.ly/3jzfJn8 from Leagle.com.

Robert M. Hirsh , Beth M. Brownstein , ARENT FOX LLP, New York, NY;
James H. Hulme , Jackson D. Toof , ARENT FOX LLP, Washington, DC;
Frederick B. Rosner , Scott J. Leonhardt , Jason A. Gibson , THE
ROSNER LAW GROUP LLC, Wilmington, DE -- Attorneys for the Appellant
Polk 33 Lending, LLC.

Matthew M. Murphy , Nicholas A. Bassett , Brendan M. Gage , PAUL
HASTINGS LLP, Chicago, IL; M. Blake Cleary , Michael Neiburg ,
YOUNG CONAWAY STARGATT & TAYLOR, LLP, Wilmington, DE -- Attorneys
for Appellee THL Corporate Finance, Inc.

           About Aerogroup International

Aerogroup International, Inc. -- http://www.aerosales.com/-- was
established in 1987 through a buyout of the What's What division
of
Kenneth Cole. Doing business as Aerosoles, the company is a New
Jersey-based women's footwear brand offering a wide array of
footwear, including heels, flats, wedges, boots and sandals that
appeal to broad consumer tastes.

With plans to close 74 of 78 stores they are operating, Aerogroup
International, Inc., and five affiliated debtors each filed a
voluntary petition for relief under Chapter 11 of the Bankruptcy
Code (Bankr. D. Del. Lead Case No. 17-11962) on Sept. 15, 2017.

The cases are pending before the Honorable Kevin J. Carey.

Aerosoles disclosed $73 million in assets and $109 million in
liabilities as of the Petition Date.

Aerosoles' legal advisor in connection with the restructuring is
Ropes & Gray LLP. The Debtors hired Bayard, P.A., as co-counsel;
Berkeley Research Group, LLC as restructuring advisor; and
EisnerAmper, LLC, as accountant. Hilco Merchant Resources is
assisting on store closings. Prime Clerk LLC is the claims and
noticing agent.

On Sept. 26, 2017, the Office of the U.S. Trustee appointed an
official committee of unsecured creditors. The committee tapped
Cooley LLP as its lead counsel; Gellert Scali Busenkell & Brown,
LLC as co-counsel; and Province, Inc. as financial advisor.


ALPHA GUARDIAN: Force 10, Garman Tout Successful Case
-----------------------------------------------------
Alpha Guardian may be a leader in secure storage, but after its
2017 merger left the company in excess of $120 million in debt, it
took the trusted bankruptcy experts lead by Nicholas Rubin of Force
10 Partners and Gregory Garman of Garman Turner Gordon to make them
financially secure.

In August 2020, a U.S. Bankruptcy judge in Nevada confirmed Alpha
Guardian's Chapter 11 bankruptcy plan, said Force 10 Co-Founder
Nicholas Rubin, who served as the company’s Chief Restructuring
Officer.

"It's ironic that, during a pandemic when so many businesses are
liquidating, a good company with good bones but with exorbitant and
unjustifiable debt along with bad process can still be saved," said
Rubin, who led the company to a successful operational turnaround
with significant positive operating cash flow and record results.

Force 10 also successfully negotiated a consensual plan of
reorganization between the debtors, the secured creditors
represented by Schwartz Law and the official committee of unsecured
creditors represented by Catherine Castaldi of the Law firm Brown
Rudnick in which over $100 million of senior secured debt and over
$30 million of junior claims were exchanged for interests in a
trust, while the balance of the senior secured debt converted into
equity of the reorganized debtor.

Force 10 implemented aggressive efforts to stem operating losses,
including reducing payroll, improving operational efficiencies,
creating oversight of accounting processes, and collecting
significantly past-due receivables. Such efforts resulted in
substantial additional cash flow. As a result, the debtors drew
only $1.1 million of a $4.0 million Debtor in Possession financing
facility.

                    About Alpha Guardian

Established in July 2017, Alpha Guardian --
https://www.alphaguardian.com/ -- provides consumers with secure
storage solutions.  Its products are sold to major retailers across
the United States under the Cannon Safe, Stack-On and GunVault
brands, all of which are designed to fill unique consumer needs.
The company operates manufacturing and distribution facilities in
the U.S. and Mexico and has employees in multiple countries. Cannon
Safe -- https://www.cannonsafe.com/ -- is a manufacturer of
large-scale gun safes and secure home storage solutions.  Since
1965, its focus has been on manufacturing safes to protect prized
possessions.

GunVault -- https://www.gunvault.com/ -- offers a wide range of gun
safes including biometric safes, pistol safes, and portable safes.
Stack-On -- https://www.stack-on.com/ -- manufactures and
distributes gun security products.

Alpha Guardian and its affiliates filed Chapter 11 petitions
(Bankr. D. Nev. Lead Case No. 20-11016) on Feb. 24, 2020.  At the
time of the filing, the Debtors had estimated assets of between $10
million and $50 million and liabilities of between $100 million and
$500 million in liabilities.

Judge Bruce T. Beesley oversees the cases.

The Debtors tapped Garman Turner Gordon LLP as their bankruptcy
counsel; Nicholas Rubin of Force Ten Partners, LLC as chief
restructuring officer; and Wright Ford Young & Co. as tax preparer
and tax advisor.  Stretto is Debtors' claims noticing and
solicitation agent.

The U.S. Trustee for Region 17 appointed a committee of unsecured
creditors on March 11, 2020.  The committee tapped Brown Rudnick,
LLP as its lead bankruptcy counsel, and McDonald Carano, LLP as its
local counsel.


AMADUES DEVELOPMENT: Trustee Selling Potomac Property for $510K
---------------------------------------------------------------
Cheryl E. Rose, Chapter 11 Trustee of Amadues Development, LLC,
asks the U.S. Bankruptcy Court for the District of Maryland to
authorize the sale of the real property located at 13211 Query Mill
Road, Potomac, Maryland to Rafaelangel Gonzalez for $510,000.

The Trustee had previously entered into a Contract of Sale for the
Property with Mohammed Omid Farhad for a price of $450,000.  She
filed a Motion to Sell on March 20, 2020  and said sale was
approved by the Court by Consent Order dated July 21, 2020.
Unfortunately due to the restrictive issues with travel and the
Covid-19 virus, the Purchaser was unable to travel to the United
States for the real estate settlement.  In addition, the Purchaser
was unable to provide appropriate signatures as he was confined in
Iran where there are no American Embassies.  Therefore, after two
extensions of the settlement date, the Trustee decided to obtain a
new purchaser and the initial contract was released.  

A new Contract has been obtained with the increased purchase price
of $510,000, pursuant their Real Estate Purchase Agreement and
Addendums.  The new purchaser, Gonzalez, is ready to settle upon
approval of the Court.  The Buyer is a disinterested individual
unrelated to the Debtor and the Trustee, and the contract was
obtained through realtors in an arms'-length real estate
transaction.  The Trustee submits that the offer from the Buyer is
fair and reasonable and is an accurate reflection of the market
value of the Property.    

The Trustee has filed contemporaneously with the Motion, the Notice
of Sale Under Section 363 of her intent to sell the Real Property,
the hearing date of Oct.  19, 2020 at 11:00 a.m.  The Notice was
served first class mail postage prepaid and/or electronically via
ECF, to all creditors and interested parties on the mailing matrix
in the case this same day.   The Trustee also asks that, in the
event that the sale to the Buyer does not close she be authorized
to sell to a substitute purchaser without further notice so long as
the contract has substantially the same or better terms.

A copy of the Contract is available at https://tinyurl.com/y5t23gqn
from pacerMonitor.com free of charge.

                    About Amadues Development

Amadues Development LLC is a privately held company in the
residential building construction business.  Amadues Development
sought protection under Chapter 11 of the Bankruptcy Code (Bankr.
D. Md. Case No. 19-19515) on July 15, 2019.  At the time of the
filing, the Debtor disclosed $2,094,200 in assets and $1,456,864
in
liabilities.  The case is assigned to Judge Thomas J. Catliota.
McNamee, Hosea, Jernigan, Kim, Greenan & Lynch, P.A., is the
Debtor's legal counsel.


AMERICANN INC: Nearly Doubles Quarterly Revenue
-----------------------------------------------
AmeriCann, Inc., provided a quarterly operations update for its new
state-of-the-art cannabis cultivation and processing facility in
Massachusetts.

AmeriCann's Operating Revenue from Building 1, the completed first
phase at its flagship Massachusetts Cannabis Center, increased 178%
for the quarter ending Sept. 30, 2020 from the prior quarter.

AmeriCann's Massachusetts Cannabis Center is located on a 52-acre
parcel in Southeastern Massachusetts.  The MCC project is permitted
for 987,000 sq. ft. of cannabis cultivation and processing
infrastructure, which is being developed in phases, and supports
both the existing medical cannabis and the adult-use cannabis
markets.

The initial phase of the development, Building 1, is a 30,000
square foot cultivation greenhouse and processing facility, that
utilizes AmeriCann's proprietary "Cannopy" system.  Building 1 is
fully-occupied by Bask, Inc., an existing Massachusetts licensed
vertically integrated cannabis operator.

AmeriCann receives Base Rent and a Revenue Participation Fee from
Bask of 15% of all gross monthly sales of cannabis,
cannabis-infused products and non-cannabis products produced.

"The significant increase in Operating Revenue for the quarter is a
continuation of consistent month to month revenue increases for
AmeriCann," stated AmeriCann CEO Tim Keogh.  "While our Building 1
facility is new, the premium sustainable cannabis produced at our
Massachusetts Cannabis Center is setting new standards for
Massachusetts."

A summary of operational highlights included the following:

   * AmeriCann's Operating Revenue from Building 1 increased 178%
     from the quarter that ended September 30, 2020 from the  
     prior quarter.

   * Massachusetts cannabis sales continue to increase
     significantly.  Adult-use cannabis sales increased by 63%
     from August 2019 to August 2020 with an increase of over
     $31,000,000 million in sales to $80,310,583.

   * Cannabis sales nationally have increased dramatically as the
     industry has emerged as one of the major economic
     beneficiaries in 2020.

   * AmeriCann has filed license applications for Building 2 –
     the next planned phase of the MCC development.  Building 2
     calls for 180,000 additional square feet of cannabis
     cultivation and manufacturing infrastructure.

                          About Americann

Headquartered in Denver, Colorado, AmeriCann is a specialized
cannabis company that is developing cultivation, processing and
manufacturing facilities.  AmeriCann uses greenhouse technology
which is superior to the current industry standard of growing
cannabis in warehouse facilities under artificial lights. AmeriCann
is designing GMP Certified cannabis extraction and product
manufacturing infrastructure.  Through a wholly-owned subsidiary,
AmeriCann Brands, Inc., the Company intends to secure licenses to
produce cannabis infused products including beverages, edibles,
topicals, vape cartridges and concentrates. AmeriCann Brands, Inc.
plans to operate a Marijuana Product Manufacturing business at MMCC
with over 40,000 square feet of state-of-the art extraction and
product manufacturing infrastructure.

Americann reported a net loss of $4.90 million for the year ended
Sept. 30, 2019, compared to a net loss of $4.43 million for the
year ended Sept. 30, 2018.  As of June 30, 2020, the Company had
$14.86 million in total assets, $8.48 million in total liabilities,
and $6.38 million in total stockholders' equity.

MaloneBailey, LLP, in Houston, Texas, the Company's auditor since
2016, issued a "going concern" qualification in its report dated
Jan. 14, 2020, citing that the Company has suffered recurring
losses from operations and has an accumulated deficit that raises
substantial doubt about its ability to continue as a going concern.


API GROUP: S&P Rates $250MM Senior Secured Term Loan 'BB-'
----------------------------------------------------------
S&P Global Ratings assigned its 'BB-' issue-level and '3' recovery
ratings to APi Group Corp.'s (BB-/Stable/--) $250 million senior
secured term loan due in 2026. The '3' recovery rating indicates
s&p'S expectation that lenders would receive meaningful (50%-70%;
rounded estimate: 50%) recovery of principal in the event of a
payment default.

S&P is also affirming its 'BB-' issue-level rating on APi's $1.2
billion senior secured term loan due 2026. The '3' recovery rating
indicates its expectation that lenders would receive meaningful
(50%-70%; rounded estimate: 50%) recovery of principal in the event
of a payment default.

APi intends to use the net proceeds from the proposed incremental
term loan B to replenish cash used from its Oct. 2, 2020
acquisition of SK FireSafety Group (SKG), a European provider of
safety solutions in the fire and life safety markets in Benelux--an
economic union comprising Belgium, the Netherlands, and
Luxembourg--and Scandinavia, as well as its completion of three
other U.S. bolt-on acquisitions and general corporate purposes.

S&P's 'BB-' rating on APi reflects its assumption that despite
revenue declines in 2020, the company's adjusted debt to EBITDA
will remain below 4x pro forma for the proposed acquisition.

Issue Ratings--Recovery Analysis

Key analytical factors

-- S&P's simulated default scenario assumes a payment default in
2024 following a prolonged period of economic weakness and a
slowdown in the life safety, industrial, and energy and
infrastructure markets. This would ultimately render APi unable to
meet its fixed charges, which include interest expense, maintenance
capital spending, and required debt amortization.

-- S&P believes that if APi were to default, a viable business
model would remain because of its good market position as one of
the largest fire protection and sprinkler providers in the U.S.

-- S&P has valued APi using an enterprise multiple approach. The
5x multiple S&P applied is in line with engineering and
construction peers.

-- S&P also assumes the revolver is about 85% drawn at default.

Simulated default assumptions

-- LIBOR of 250 basis points;
-- All debt includes six months of accrued interest; and
-- EBITDA at emergence is $187 million.

Simplified waterfall

-- Net enterprise value (after 5% administrative costs): $888
million

-- Collateral available to senior secured debtholders: $873
million

-- Senior secured claims: $1.7 billion

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

-- Collateral value includes asset pledges from obligors (after
priority claims) plus equity pledges in nonobligors.

S&P acknowledges a high degree of uncertainty about the evolution
of the coronavirus pandemic. The current consensus among health
experts is that COVID-19 will remain a threat until a vaccine or
effective treatment becomes widely available, which could be around
mid-2021.

"We are using this assumption in assessing the economic and credit
implications associated with the pandemic. As the situation
evolves, we will update our assumptions and estimates accordingly,"
S&P said.


APPLIED DNA: OKs Compensatory Arrangement for Three Executives
--------------------------------------------------------------
Applied DNA Sciences, Inc., approved certain compensatory
arrangements for the Company's chief executive officer, chief
financial officer and chief information officer.

As previously disclosed, Dr. James Hayward, the Company's
president, chief executive officer, and chairman of the Board of
Directors, is subject to an employment agreement, which provides
for, among other things, an annual salary of $400,000.  Dr. Hayward
voluntarily reduced his salary for the fiscal years ended Sept. 30,
2020, 2019, and 2018.  Dr. Hayward's base salary for the majority
of the 2019 fiscal year was $250,000.  During September 2019, Dr.
Hayward further voluntarily reduced his salary from the
then-current rate of $250,000 to $50,000.  Dr. Hayward's salary was
subsequently increased to $150,000 during December 2019.  The
Company has as of Oct. 3, 2020 re-affirmed the employment
agreement's annual salary of $400,000, and from that date Dr.
Hayward's salary will be paid at such rate.

Ms. Beth Jantzen, the Company's chief financial officer; and Ms.
Judith Murrah, the Company's chief information officer and
secretary, have each been awarded by the Company a cash bonus of
$42,116 to be paid on Oct. 16, 2020.

In addition, the Company increased Ms. Murrah's salary to an annual
rate of $300,000, effective as of Oct. 3, 2020, from $250,000 per
annum.  Ms. Murrah is not party to an employment agreement with the
Company.

                         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.


APPROACH RESOURCES: Seeks Plan Exclusivity Extension Thru Oct. 28
-----------------------------------------------------------------
Approach Resources Inc. and its affiliates request the U.S.
Bankruptcy Court for the Southern District of Texas, Houston
Division, to extend the exclusive periods during which the Debtors
may file a Chapter 11 plan and solicit acceptances for the plan
through and including October 28 and December 28, 2020,
respectively.

Due to the unforeseeable and historic challenges relating to the
Covid-19 pandemic and the substantial drop in commodity prices, the
Debtors have made material progress in their cases.  The Debtors
contend these relevant factors strongly favor extensions of the
Debtors' exclusivity periods:

     (i) the Debtors have, among other things, initiated litigation
against Alpine and ultimately resolved that litigation in a manner
that generated $22,125,000 million for their estates and then
remarketed their assets and obtained approval for the sale to
Zarvona III-A, L.P. At present, the Debtors are diligently working
to finalize a plan of liquidation and disclosure statement, which
the Debtors anticipate filing shortly after the September 30, 2020,
scheduled closing of the Zarvona transaction;

    (ii) since the Petition Date, the Debtors have negotiated in
good faith with key constituents. For the most part, the Debtors
have been able to obtain a consensus among those constituents
regarding the issues in these cases. Accordingly, the Debtors
submit that an additional extension is not being sought as a means
to pressure creditors but, rather enable the Debtors to close the
Zarvona transaction on schedule and then to finalize and file their
plan of liquidation; and

   (iii) finally, the Debtors are paying all of their post-petition
obligations as they become due and have the resources to continue
to do so during the requested extension of the Exclusive Periods.

Accordingly, the Debtors, in consultation with the Secured Lenders,
anticipate finalizing a plan of liquidation and filing that plan of
liquidation soon after closing the Zarvona sale. "In addition, we
also seek to schedule the confirmation hearing for that plan of
liquidation in December 2020", the Debtors add.

                    About Approach Resources

Forth Worth, Texas-based Approach Resources Inc. --
https://www.approachresources.com/ -- is a publicly owned Delaware
corporation.  The company and its subsidiaries comprise an
independent energy company focused on the exploration, development,
production, and acquisition of unconventional oil and gas reserves.
Their principal operations are conducted in the Midland Basin of
the greater Permian Basin in West Texas.

Approach Resources Inc. and its affiliates filed for Chapter 11
bankruptcy protection (Bankr. S.D. Tex. Lead Case No. 19-36444) on
Nov. 18, 2019, listing $100 million to $500 million in assets and
liabilities. The petitions were signed by Sergei Krylov, chief
executive officer.  

The Honorable Marvin Isgur is the presiding judge. The Debtors
tapped Thompson & Knight LLP as legal counsel; Perella Weinberg
Partners LP as investment banker; Alvarez & Marsal North America,
LLC as financial advisor; KPMG US LLP as tax advisor; and Epiq
Corporate Restructuring LLC as claims, noticing, and solicitation
agent.


ARCHDIOCESE OF NEW ORLEANS: Solvent, Filed in Bad Faith, Says Panel
-------------------------------------------------------------------
Ramon Antonio Vargas of Nola.com reports that attorneys for the
Archdiocese of New Orleans sought to fend off accusations in
federal court that their recent Chapter 11 bankruptcy filing was
merely a bid to settle some three-dozen clergy abuse lawsuits as
cheaply as possible while limiting future claims.

A lawyer representing a seven-member committee comprised largely of
abuse claimants said the church's May 1, 2020 reorganization was
disingenuous, pointing to a letter that Archbishop Gregory Aymond
sent to the Vatican two days before filing that said insurance
would likely cover most of the cost of settling the abuse cases,
leaving the archdiocese responsible for only around $7 million.

The letter, according to committee attorney Davin Boldissar, also
contradicts the archdiocese's contention that it is suffering from
crippling financial distress from the clergy abuse scandal and the
coronavirus pandemic, because the church's missive said it could
"cover 100% of (its) current liabilities."  Additionally, Mr.
Boldissar said, the church has reported total net assets of about
$151 million.

Judges have the power to dismiss bankruptcy petitions that they
deem filed "in bad faith," and that's exactly what the archdiocese
has done in this case, Boldissar alleged.

Church attorney Mark Mintz mounted a furious rebuttal, saying
federal law does not require entities to be completely insolvent
before seeking Chapter 11 protections, which allow them to
reorganize while shielding them from creditors' demands.  In fact,
entities should reorganize before they've plunged into complete
insolvency because it's easier to get their affairs in order, he
said.

Mr. Mintz also suggested that the archdiocese's ability to cover
its current liabilities doesn't mean that won't change later.  The
parishioners from whom the archdiocese receives a significant
portion of its income likely won't be able to contribute as
reliably because they live in an area hit hard by a pandemic that
-- along with a health emergency -- has caused an economic
downturn.

"That's the key," Mintz said. "The key we have is (those) in the
church pews."

U.S. Bankruptcy Judge Meredith Grabill said she would rule later on
whether to dismiss the church's Chapter 11 petition as a bad faith
filing. In the meantime, she said she would review more than 6,000
pages of exhibits as well as legal briefs and up to 23 hours of
videotaped depositions.

Thursday’s hearing dealt with one of two major, unresolved
disputes in the church’s bankruptcy case. The other involves a
date by which any remaining people with clergy abuse claims and
other demands from before May 1 must come forward.

The church in July asked Grabill to set the so-called bar date —
standard in bankruptcy proceedings — for Sept. 29. But Grabill
postponed a hearing on that request from Thursday to Sept. 17, and
both sides say they expect the bar date to be after late September.


Abuse victims need more time to file claims in Archdiocese of New
Orleans bankruptcy case, feds say. Many expect the selection of the
bar date to be a key moment in the bankruptcy case. In church
bankruptcies, claims typically skyrocket once that bar date is
chosen.

For example, Mintz said, the Archdiocese of Milwaukee had 23
pending clergy abuse claims when the bar date for its 2011
bankruptcy filing was picked. After the bar date's setting, more
than 570 additional claims poured in, Mintz said.

            About the Archdiocese of New Orleans

The Roman Catholic Church of the Archdiocese of New Orleans is a
non-profit religious corporation incorporated under the laws of the
State of Louisiana. For more information, visit
https://www.nolacatholic.org/

Created as a diocese in 1793, and established as an archdiocese in
1850, the Archdiocese of New Orleans has educated hundreds of
thousands in its schools, provided religious services to its
churches and provided charitable assistance to individuals in need,
including those affected by hurricanes, floods, natural disasters,
war, civil unrest, plagues, epidemics, and illness.  Currently, the
archdiocese's geographic footprint occupies over 4,200 square Miles
in southeast Louisiana and includes eight civil parishes --
Jefferson, Orleans, Plaquemines, St.  Bernard, St. Charles, St.
John the Baptist, St. Tammany, and Washington.

The Roman Catholic Church for the Archdiocese of New Orleans sought
Chapter 11 protection (Bankr. E.D. La. Case No. 20-10846) on May 1,
2020. The archdiocese was estimated to have $100 million to $500
million in assets and liabilities as of the bankruptcy filing.

Judge Meredith S. Grabill oversees the case.

The archdiocese is represented by Jones Walker LLP.  Donlin, Recano
& Company, Inc. is the claims agent.

The Office of the U.S. Trustee appointed a committee of unsecured
creditors on May 20, 2020.  The committee is represented by
Pachulski Stang Ziehl & Jones, LLP and Locke Lord, LLP.


ASCENT RESOURCES: Moody's Hikes CFR to B2; Alters Outlook to Stable
-------------------------------------------------------------------
Moody's Investors Service upgraded Ascent Resources Utica Holdings,
LLC's (Ascent) Corporate Family Rating to B2 from B3 and assigned a
B3 rating to its new $550 million second lien term loan due 2025.
Moody's also upgraded the company's senior unsecured notes rating
to Caa1 from Caa2 and assigned Caa1 rating to Ascent's new senior
unsecured notes due 2027. Moody's upgraded the company's
Probability of Default Rating (PDR) to B2-PD from B3-PD, however
appended the PDR with an /LD to reflect the distressed exchange.
The outlook was changed to stable from negative.

On September 10, Ascent announced that it commenced an offer to
exchange its outstanding 10% senior notes due 2022 (2022 notes) for
a combination of new second lien term loan due 2025 and new 9%
senior notes due 2027. The company also offered an alternate option
of exchanging the 2022 notes for 2027 notes. As of October 7, 2020
(the exchange offer expiration), approximately $857 million or
92.7% of the bond holders had tendered their bonds. Based on the
tender results, the company will issue $538.0 million principal
amount of term Loan due 2025 and approximately $318.7 million of
2027 notes in exchange for 2022 notes upon closing of the exchange
offer and consent solicitation. Approximately $68 million of the
2022 notes will remain outstanding.

Moody's views this exchange as a distressed exchange and a form of
default. Moody's appended Ascent's Probability of Default Rating
with a "/LD" designation indicating limited default. The /LD will
be removed within a few business days.

"Ascent's debt exchange mitigates its refinancing risk and relieves
the company of near-term maturity pressure. The company's
significant reserve base in the highly productive Utica Shale and
its strong hedging program provide meaningful protection to debt
service and the drilling program through 2022 and enable the
company to maintain production while generating free cash flow,"
commented Sreedhar Kona, Moody's senior analyst.

Upgrades:

Issuer: Ascent Resources Utica Holdings, LLC

Probability of Default Rating, Upgraded to B2-PD /LD from B3-PD

Corporate Family Rating, Upgraded to B2 from B3

Senior Unsecured Notes, Upgraded to Caa1 (LGD5) from Caa2 (LGD5)

Assignments:

Issuer: Ascent Resources Utica Holdings, LLC

Senior Secured Second Lien Term Loan, Assigned B3 (LGD4)

Senior Unsecured Notes, Assigned Caa1 (LGD5)

Outlook Actions:

Issuer: Ascent Resources Utica Holdings, LLC

Outlook, Changed to Stable from Negative

RATINGS RATIONALE

Ascent's CFR upgrade to B2 largely reflects the mitigation of the
company's refinancing risk and near-term maturity pressure. Through
the exchange the company's next significant maturity will be in
2024 when the revolver is due. Additionally, the company has
increased its commodity hedge position, taking advantage of the
recovery in natural gas prices, which provides good visibility to
company's cash flow through 2022, and its ability to reduce debt
through free cash flow.

Ascent's B2 CFR reflects the company's natural gas weighted
production profile which yields lower cash margins than an
oil-weighted production base on an equivalent unit of production,
notwithstanding the company's good capital efficiency. The rating
also reflects the company's single basin focus in the Utica Shale
and significant firm transportation (FT) commitments that, while
providing flow assurance, could prove burdensome if the company's
production drops. Ascent's production meets its FT requirements and
will continue to meet them at current production levels. Ascent
benefits from a significant reserve base in the highly productive,
low-cost Utica Shale and a comprehensive hedging program that
should provide meaningful protection to debt service and the
drilling program through 2022.

Ascent's second lien term loan is rated B3, one notch below the CFR
reflecting the significant size and priority ranking of the
company's $1.85 billion borrowing base senior secured revolving
credit facility due April 2024 ($1.2 billion outstanding as of June
30, 2020). The senior unsecured notes are rated Caa1, two notches
below the CFR, owing to the priority claim of the revolver and the
second lien term loan to the company's assets ahead of the notes.

Ascent's stable outlook reflects Moody's expectation that the
company will maintain good credit metrics and sustain its
production while generating free cash flow.

Ascent will maintain adequate liquidity and generate modest free
cash flow through 2021. As of June 30, 2020, Ascent had
approximately $9 million of cash and approximately $500 million of
availability under its $1.85 billion borrowing base revolving
credit facility maturing in April 2024. Ascent will meet its
liquidity needs through 2021 from its operating cash flow and not
draw on its revolver. Under the credit agreement, Ascent is
required to maintain its net debt/EBITDAX ratio below 4x (cash
netting limited to $50 million) and a current ratio above 1x.
Ascent will maintain compliance with its financial covenants
because its substantial hedging of 2021 production has mitigated
its natural gas price risk.

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

Ascent's ratings could be upgraded if the company generates
significant free cash flow and reduces debt, improving its ability
to maintain production and credit metrics through periods of weaker
gas prices. A sustainable retained cash flow to debt ratio of above
20%, leveraged full cycle ratio above 1.5x and adequate liquidity
would be supportive of a ratings upgrade.

Ascent's ratings will be downgraded if the company is unable to
achieve consistent free cash flow generation and debt reduction or
if natural gas fundamentals deteriorate significantly. A weakening
of liquidity could also pressure the ratings

Based in Oklahoma City, Oklahoma, Ascent Resources Utica Holdings,
LLC is a private independent E&P company with operations in the
Utica Shale in Eastern Ohio.

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


ASTRIA HEALTH: Reaches Settlement With WSNA on Regional Closure
---------------------------------------------------------------
Mai Hoang of the Yakima Herald-Republic reports that Astria Health
and the Washington State Nurses Association have settled a
complaint over the closure of Astria's hospital, which settlement
is subject to approval from the U.S. Bankruptcy Court.

Earlier this year, WSNA filed a complaint against Astria Health,
stating that it violated several state and federal laws when it
closed Astria Regional Medical Center in Yakima in January 2020.

Astria filed for Chapter 11 bankruptcy protection in May 2019.

In April 2020, Judge Whitman L. Holt agreed to proceed with part of
the complaint related to whether Astria Health had violated the
federal WARN Act by not abiding by the 60-day notice the law
requires.  The labor law requires employers with 100 or more
employees to provide 60 days advance notice about plant closings
and mass layoffs.

Judge Holt dismissed the part of the complaint where WSNA asserted
that Astria violated the Washington State Payment and Collection
Act and the Washington Wage Rebate Act by not quickly paying the
nurses for paid time off.

In the joint motion filed in July, WSNA and Astria Health wrote
that all parties agreed it was best to settle rather than go
through a lengthy and costly process in court.

Under the agreement, former Astria Regional Medical Center nurses
represented by WSNA would receive a share of a settlement payment
from Astria Health. The two parties declined to reveal the exact
amount of the payment.

Former employees who are not working for any Astria Health facility
can also file an unsecured claim for any remaining unused paid time
off at the time of the hospital's closure. Those who were rehired
at other Astria Health facilities will have those hours
transferred.

                       Bankruptcy Plan

Meanwhile, Yakima Herald-Republic reports that Astria Health is
moving forward on its bankruptcy reorganization plan.

In a status hearing before the U.S. Bankruptcy Court Wednesday,
Astria Health attorney Sam Maizel said he believes a draft version
of the plan and disclosure statement addresses the objections of
the U.S. Trustee.

Maizel said that Astria Health had started discussions with the
Unsecured Creditors Committee to address their concerns. Maizel
said proposals have been exchanged.

“I am optimistic that a settlement can be reached,” he said.

Astria Health filed a joint reorganization plan in early July with
Lapis Advisers, its largest creditor. At the end of last year,
Lapis Advisers also served as the lender for its
debtor-in-possession financing. Astria Health previously said it
aims to emerge out of bankruptcy by the end of September 2020.

Both the U.S. Trustee and Unsecured Creditors Committee filed
objections to the disclosure statement, a document filed alongside
the reorganization plan that addresses assets, liabilities and
other business affairs.

Both also took issue that Astria did not fully disclose why it
would reorganize its assets in a way that would limit payments to
unsecured creditors while satisfying secured creditors in full.
The U.S. Trustee requested that the plan and disclosure statement
provide more detail, such as who would manage the reorganized
entity.

Maizel, the Astria Health attorney, said the organization has
started revising the disclosure statement and expects to make
"significant revisions" under any settlement with the Unsecured
Creditors Committee.

                     About Astria Health

Astria Health and its subsidiaries -- https://www.astria.health/ --
are a nonprofit health care system providing medical services to
patients who generally reside in Yakima County and Benton County,
Wash., through the operation of Sunnyside, Yakima, and Toppenish
hospitals, as well as several health clinics, home health services,
and other healthcare services. Collectively, they have 315 licensed
beds, three active emergency rooms, and a host of medical
specialties. The Debtors have 1,547 regular employees.

Astria Health and 12 of its subsidiaries filed for bankruptcy
protection (Bankr. E.D.Wash, Lead Case No. 19-01189) on May 6,
2019.  In the petitions signed by John Gallagher, president and
CEO, the Debtors were each estimated to have assets and liabilities
of $100 million to $500 million.

Judge Frank L. Kurtz oversees the cases.

Bush Kornfeld LLP and Dentons US LLP serve as the Debtors' counsel.
Kurtzman Carson Consultants, LLC is the claims and noticing agent.


Gregory Garvin, acting U.S. trustee for Region 18, appointed a
committee of unsecured creditors on May 24, 2019.  The committee
retained Sills Cummis & Gross P.C. as its legal counsel; Polsinelli
PC, as co-counsel; and Berkeley Research Group, LLC as financial
advisor.


AVIANCA HOLDINGS: Says It Now Has Ample Cash to Support Operations
------------------------------------------------------------------
Avianca Holdings S.A. (OTCMKTS: AVHOQ, BVC:PFAVH) announced Oct. 5,
2020, that it has received approval from the U.S. Bankruptcy Court
for the Southern District of New York to access its
debtor-in-possession ("DIP") financing totaling just over US$2.0
billion.

Adrian Neuhauser, Chief Financial Officer of Avianca said, "The
approval of the DIP financing package is a significant milestone
and an important step forward for Avianca.  We would like to again
thank our lenders for their support and confidence in Avianca's
future success.  We continue to work on our go-forward operating
plan in order to emerge from this process as a stronger and more
efficient airline, and look forward to presenting our plan to the
U.S Court as we move forward in the Chapter 11 process."

Anko van der Werff, President and Chief Executive Officer of
Avianca, added, "With U.S. Court approval to fully access this DIP
financing, Avianca has ample liquidity to support our operations as
we continue flying and serving customers.  With COVID restrictions
lifted, we are pleased to have safely resumed passenger flights to
21 cities in Colombia and 14 international destinations and look
forward to adding more destinations to meet our customers' travel
needs over the coming months.  We thank our customers for their
loyalty, and we remain steadfast in our commitment to connecting
people, families and businesses across Latin Americathrough the
Chapter 11 process and beyond."  

As previously announced on September 21, 2020, the Company's DIP
financing totals approximately US$2.0 billion, consisting of a US$
1.27 billion Tranche A senior secured financing and a US$ 722
million Tranche B secured subordinated loan. The DIP financing
includes approximately US$ 1.2 billion of new funds(US$ 881 million
in Tranche A and US$ 336 million in Tranche B).  Funding remains
subject to entry of the order by the judge in the U.S. Court and
certain conditions precedent, all of which are expected to be
satisfied in the coming week.

Seabury Securities LLC is serving as Avianca's investment bank and
financial advisor.  Goldman Sachs Lending Partners LLC and JPMorgan
Chase Bank, N.A. are serving as co-lead arrangers and joint
bookrunners of the Tranche A DIP Loans. Milbank LLP is serving as
Avianca's legal advisor.

                      About Avianca Holdings

Avianca -- https://aviancaholdings.com/ -- is the commercial brand
for the collection of passenger airlines and cargo airlines under
the umbrella company Avianca Holdings S.A. Avianca has been flying
uninterrupted for 100 years.  With a fleet of 158 aircraft,
Avianca
serves 76 destinations in 27 countries within the Americas and
Europe.

Avianca Holdings S.A. and its affiliates sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No.
20-11133) on May 10, 2020. At the time of the filing, Debtors
disclosed $7,273,900,000 in assets and $7,268,700,000 in
liabilities.  

Judge Martin Glenn oversees the cases.

The Debtors tapped Milbank LLP as general bankruptcy counsel;
Urdaneta, Velez, Pearl & Abdallah Abogados and Gomez-Pinzon
Abogados S.A.S. as restructuring counsel; Smith Gambrell and
Russell, LLP as aviation counsel; Seabury Securities LLC as
financial restructuring
advisor and investment banker; FTI Consulting, Inc. as financial
restructuring advisor; and Kurtzman Carson Consultants LLC as
claims and noticing agent.

The U.S. Trustee for Region 2 appointed a committee of unsecured
creditors in Debtor's bankruptcy cases on May 22, 2020.


AVINGER INC: Sets Annual Meeting of Stockholders for Dec. 10
------------------------------------------------------------
The board of directors of Avinger, Inc., established Dec. 10, 2020
as the meeting date for the Company's 2020 Annual Meeting of
Stockholders and Oct. 20, 2020 as the record date for determining
stockholders entitled to notice of, and to vote at, the 2020 Annual
Meeting and at any adjournments or postponements thereof. The
Company will provide additional details regarding the exact time,
location and matters to be voted on at the 2020 Annual Meeting in
the Company's proxy statement for the 2020 Annual Meeting to be
filed with the Securities and Exchange Commission prior to the 2020
Annual Meeting.  Due to the fact that the date of the 2020 Annual
Meeting has been changed by more than 30 days from the anniversary
date of the 2019 Annual Meeting of Stockholders, the Company is
providing the due date for submission of any qualified stockholder
proposal or qualified stockholder nominations.

In accordance with Rule 14a-5(f) and Rule 14a-8(e) under the
Securities Exchange Act of 1934, as amended, and the Company's
amended and restated bylaws, the deadline for receipt of
stockholder proposals or nominations for inclusion in the Company's
proxy statement for the Annual Meeting pursuant to Rule 14a-8 will
be no later than 5:00 p.m., Eastern Time, Oct. 20, 2020, which the
Company believes is a reasonable time before it begins to print and
send its proxy materials.

Any proposals should be delivered in writing to Avinger, Inc., 400
Chesapeake Drive, Redwood City, California 94063, Attention:
Secretary.  Any stockholder proposal or director nomination
received after Oct. 20, 2020 will be considered untimely and will
not be included in the Company's proxy materials for the Annual
Meeting nor will it be considered at the 2020 Annual Meeting.
Stockholder proposals must also comply with all of the applicable
requirements set forth in the rules and regulations of the
Securities and Exchange Commission, including Rule 14a-8 under the
Exchange Act and the Bylaws.

                          About Avinger

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

Avinger reported a net loss applicable to common stockholders of
$23.03 million for the year ended Dec. 31, 2019, compared to a net
loss applicable to common stockholders of $35.69 million for the
year ended Dec. 31, 2018.  As of June 30, 2020, the Company had
$28.88 million in total assets, $21.33 million in total
liabilities, and $7.55 million in total stockholders' equity.

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


AVIVAR HOSPITALITY: Seeks to Hire Moon Wright as Counsel
--------------------------------------------------------
Avivar Hospitality, LLC, seeks authority from the U.S. Bankruptcy
Court for the Western District of North Carolina to employ Moon
Wright & Houston, PLLC, as counsel to the Debtor.

Avivar Hospitality requires Moon Wright to:

   a. provide legal advice with respect to its powers and duties
      as debtors-in-possession in the continued operation of its
      business and management of its properties;

   b. negotiate, prepare, and pursue confirmation of a chapter 11
      plan and approval of a disclosure statement, and all
      related reorganization agreements and/or documents;

   c. prepare on behalf of the Debtor necessary applications,
      motions, answers, orders, reports, and other legal papers;

   d. represent the Debtor in all adversary proceedings related
      to the base case;

   e. represent the Debtor in all litigation arising from or
      relating to causes of action owned by the estate or
      defending causes of action brought against the estate, in
      any forum;

   f. appear in Court to protect the interests of the Debtor; and

   g. perform all other legal services for the Debtor that may be
      necessary and proper in the chapter 11 proceeding.

Moon Wright will be paid at these hourly rates:

     Richard S. Wright           $525
     Andrew T. Houston           $500
     Caleb Brown                 $280
     Amy Murray (Paralegal)      $150

The Debtor paid Moon Wright a deposit in the amount of $36,717, of
which $17,346.91 is currently being held in the Firm's trust
account.

Moon Wright will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Richard S. Wright, partner of Moon Wright & Houston, PLLC, assured
the Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and does not
represent any interest adverse to the Debtor and its estates.

Moon Wright can be reached at:

     Richard S. Wright, Esq.
     Caleb Brown, Esq.
     MOON WRIGHT & HOUSTON, PLLC
     121 W. Trade Street, Suite 1950
     Charlotte, NC 28202
     Tel: (704) 944-6560
     Fax: (704) 944-0380

                     About Avivar Hospitality

Avivar Hospitality, LLC operates in the hotels and motels
industry.

Avivar Hospitality, LLC, based in Raleigh, NC, filed a Chapter 11
petition (Bankr. W.D.N.C. Case No. 20-30789) on Aug. 27, 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
Anuj Mittal, manager of Lotus Holdings, LLC.  The Hon. Laura T.
Beyer presides over the case.  Moon Wright & Houston, PLLC, serves
as bankruptcy counsel to the Debtor.


B-LINE CARRIERS: Hires Suncoast CPA as Accountant
-------------------------------------------------
B-Line Carriers, Inc., seeks authority from the U.S. Bankruptcy
Court for the Middle District of Florida to employ Suncoast CPA
Group, PLLC, as accountant to the Debtor.

B-Line Carriers requires Suncoast CPA to prepare the Debtor's
federal income tax returns, any other required tax returns, and
perform such other related accounting functions as requested by the
Debtor or its counsel.

Suncoast CPA will be paid at these hourly rates:

     Randy Woodruff                $200
     Staffs                    $125 to $200

Suncoast CPA will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Randy Woodruff, partner of Suncoast CPA Group, PLLC, assured the
Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and does not
represent any interest adverse to the Debtor and its estates.

Suncoast CPA can be reached at:

     Randy Woodruff
     SUNCOAST CPA GROUP, PLLC
     801 S. Broad St.
     Brooksville, FL 34601
     Tel: (352) 796-3224

                       About B-Line Carriers

B-Line Carriers, Inc., a full-service petroleum transportation
company, filed its voluntary petition for relief under Chapter 11
of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 20-06034) on Aug.
7, 2020. The petition was signed by Jason L. Baldree, president. At
the time of filing, Debtor estimated $1 million to $10 million in
both assets and liabilities. Amy Denton Harris, Esq., at Stichter,
Riedel, Blain & Postler, P.A., represents Debtor as counsel.



BC CHALET: Seeks to Hire Shilliday Law as Legal Counsel
-------------------------------------------------------
BC Chalet, LLC, seeks authority from the United States Bankruptcy
Court for the District of Colorado to hire Shilliday Law, P.C., as
its legal counsel.

Services Shilliday Law will render are:

     a. provide the Debtor with legal advice with respect to its
powers and duties as Debtor-in-Possession;

     b. assist the Debtor in the development of a plan of
reorganization under Chapter 11;

     c. file the necessary petitions, pleadings, reports, and
actions that may be required in the continued administration of the
Debtor's property under Chapter 11;

     d. take necessary actions to enjoin and stay until a final
decree the continuation of pending proceedings and enjoin and stay
until a final decree the commencement of lien foreclosure
proceedings and all matters provided under 1 U.S.C. Sec. 362; and

     e. perform all other legal services for Debtor that may
necessary.

The firm received from the Debtor a pre-bankruptcy retainer in the
sum of $9,217.

Robert J. Shilliday, III, Esq. disclosed in a court filing that he
is "disinterested" as defined in Section 101(14) of the Bankruptcy
Code.

The firm can be reached through:

     Robert J. Shilliday, III, Esq.
     Shilliday Law, P.C.
     1512 Larimer St., Suite 600
     Denver, CO 80202
     Phone: 720-439-2500
     E-mail: rjs@shillidaylaw.com

                About BC Chalet, LLC

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

BC Chalet, LLC sought Chapter 11 protection (Bankr. D. Colo. Case
No. 20-16118) on Sep. 15, 2020. The petition was signed by Mikhail
G. Kaminski, chief manager/president. At the time of filing, the
Debtor estimated $3,032,000 in assets and $1,610,323 in
liabilities. Robert J. Shilliday III, Esq. at SHILLIDAY LAW, P.C.
represents the Debtor as counsel.


BHF CHICAGO: Seeks to Hire Clark Hill as Bankruptcy Counsel
-----------------------------------------------------------
BHF Chicago Housing Group C LLC seeks authority from the United
States Bankruptcy Court for the Northern District of Illinois to
hire Clark Hill PLC as its bankruptcy counsel.

BHF Chicago requires Clark Hill to:

     (a) provide legal advice with respect to the Debtor's powers
and duties as debtors in possession in the management of their
assets;

     (b) provide legal advice with respect to the Debtor's
obligations to taxing bodies and other government agencies;

     (c) pursue the sale of the Debtor's property, including,
without limitation, approval of bid procedures, review and
evaluation of alternative bids, negotiations with parties,
administration of an auction, appearance at sale hearings;

     (d) provide all real estate services related to the
transaction, sale, and transfer
of the Debtor's assets;

     (e) pursue confirmation of a plan and approval of a disclosure
statement;

     (f) prepare, on behalf of the Debtor, all necessary
applications, motions, answers, orders, reports and other legal
papers as required by applicable bankruptcy or non-bankruptcy law,
as dictated by the demands of the cases, or as required by the
Court, and representing the Debtor in any hearings or proceedings
related thereto;

     (g) appear in Court and protecting the interests of the Debtor
before the Court; and

     (h) perform all other legal services for the Debtor which may
be necessary and proper in this case.

Clark Hill's hourly rates range from $350 to $990 for its attorneys
and $150 to $275 for paralegals. The following are the hourly rates
of attorneys who are tapped to handle the case:

     Scott N. Schreiber    $775
     Kevin H. Morse        $650
     Chad M. Poznansky     $580
     Michael B. Bregman    $415

Clark Hill 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:

     Scott N. Schreiber, Esq.
     Kevin H. Morse, Esq.
     Clark Hill PLC
     130 East Randolph Street, Suite 3900
     Chicago, IL 60601
     Tel: (312) 985-5595
     Fax: (312) 985-5984
     Email: sschreiber@clarkhill.com
            kmorse@clarkhill.com   

                   About BHF Chicago Housing Group C LLC

BHF Chicago Housing Group C LLC is the owner of multifamily rental
facilities.

BHF Chicago Housing Group C LLC filed a voluntary petition for
relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ill.
Case No. 20-16567) on Sep. 1, 2020. In the petition signed by
Andrew Belew, president, BHF as manager, the Debtor estimated $1
million to $10 million in assets and $10 million to $50 million in
liabilities. Kevin H. Morse, Esq. at CLARK HILL PLC represents the
Debtor as counsel.


BHF CHICAGO: Seeks to Hire Hilco Real Estate as Broker
------------------------------------------------------
BHF Chicago Housing Group C LLC seeks authority from the United
States Bankruptcy Court for the Northern District of Illinois to
hire Hilco Real Estate, LLC as its real estate broker.

The Debtor expects that Hilco to:

     a. meet with the Debtor to ascertain the Debtor's goals,
objectives and financial parameters in selling the Property. The
sales structure, including reserve pricing, is more specifically
described on Exhibit B to the Engagement Letter;

     b. prepare marketing plan and budget for Debtor's review and
approval. A proposed market plan and budget shall be provided by
Hilco to Debtor within five (5) business days of the Effective
Date;

     c. solicit interested parties for the sale of the Property,
and marketing the Property for sale through an accelerated sales
process. The bid deadline is anticipated to be on or about October
23, 2020 or within six (6) weeks after entry of the order approving
Hilco's employment;

     d. negotiate the business terms of the sale of the Property;
and

     e. perform all other broker-related services for the Debtor
which may be necessary and proper in order to effectuate the sale
of the Property.

Hilco will be compensated as follows:

-- In the event the Property is sold to the stalking horse bidder
in an amount equal to the stalking horse bidder's initial bid
amount as provided in the stalking horse agreement, as subsequently
amended, Hilco shall earn a fee equal to 1.5 percent of the Gross
Sale Proceeds; provided, however, in the event stalking horse
bidder is the successful bidder for the Property and increases its
bid amount as a result of the Managed Bid Process, Hilco shall earn
a fee equal to 3 percent of the Gross Sale Proceeds.

-- In the event Property is sold to a party that is not PRE
Holdings 15, LLC, Hilco shall earn a fee equal to 3 percent of the
Gross Sale Proceeds.

Hilco does not hold or represent any interest adverse to the
Debtor's chapter 11 estate, and is a "disinterested person" as such
term is defined in section 101(14) of the Bankruptcy Code,
according to court filings.

Hilco can be reached through:

     Sarah Baker
     Hilco Real Estate, LLC
     5 Revere Drive, Suite 206
     Northbrook, IL 60062
     Tel. (847) 504-2462
     Email: sbaker@hilcoglobal.com

                     About BHF Chicago Housing Group C LLC

BHF Chicago Housing Group C LLC is the owner of multifamily rental
facilities.

BHF Chicago Housing Group C LLC filed a voluntary petition for
relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ill.
Case No. 20-16567) on Sep. 1, 2020. In the petition signed by
Andrew Belew, president, BHF as manager, the Debtor estimated $1
million to $10 million in assets and $10 million to $50 million in
liabilities. Kevin H. Morse, Esq. at CLARK HILL PLC represents the
Debtor as counsel.


BIONIK LABORATORIES: Files Amended Certificate of Incorporation
---------------------------------------------------------------
As approved by the stockholders of Bionik Laboratories Corp. at the
annual meeting of the Company's stockholders held on Oct. 5, 2020,
the Company filed a Certificate of Amendment to its Amended and
Restated Certificate of Incorporation, as amended, with the
Secretary of State of the State of Delaware to decrease the
authorized number of shares of (i) common stock of the Company from
500,000,000 to 13,000,000, and (ii) preferred stock of the Company
from 10,000,000 to 5,000,000.

                  About BIONIK Laboratories

BIONIK Laboratories -- http://www.BIONIKlabs.com/-- is a robotics
company focused on providing rehabilitation and mobility solutions
to individuals with neurological and mobility challenges from
hospital to home.  The Company has a portfolio of products focused
on upper and lower extremity rehabilitation for stroke and other
mobility-impaired patients, including three products on the market
and three products in varying stages of development.

Bionik reported a net loss and comprehensive loss of
US$25.02million for the year ended March 31, 2020, compared to a
net loss and comprehensive loss of US$10.56 million for the year
ended March 31, 2019.  As of June 30, 2020, the Company had $18.71
million in total assets, $6.99 million in total current
liabilities, and $11.72 million in total shareholders' equity.

MNP LLP, in Toronto, Ontario, the Company's auditor since 2015,
issued a "going concern" qualification in its report dated June 25,
2020, citing that the Company's accumulated deficit, recurring
losses and negative cash flows from operations raise substantial
doubt about its ability to continue as a going concern.


BLUE RACER: Fitch Lowers LT IDR to B+ & Alters Outlook to Stable
----------------------------------------------------------------
Fitch Ratings has downgraded Blue Racer Midstream, LLC's Long-Term
Issuer Default Rating (IDR) to 'B+' from 'BB-' and the rating on
Blue Racer's senior unsecured notes due 2022 and 2026 to 'B+'/'RR4'
from 'BB-'/'RR4'. These notes have been co-issued with Blue Racer
Finance Corp. Additionally, Fitch has affirmed the rating on the $1
billion senior secured revolving credit facility of 'BB+'/'RR1'.
The Rating Outlook is revised to Stable from Negative.

The downgrade reflects the increase in business risk as the number
of active producers within Blue Racer's dedicated acreage has
declined, increasing the concentration in its leading producer.
Ascent Resources Utica Holdings, LLC (B(EXP)/Stable) generated 38%
of 1H20 revenues, up from 27% in 2019. Only one producer within
Blue Racer's dedicated acreage continued drilling in 3Q20, while
others drilled to meet the minimum volume contracts (MVCs)
requirements, which is less than Fitch expected, on average, in
2020 when the Negative Outlook was assigned. The Outlook revision
to stable reflects the improvement in credit quality and liquidity
of its top exploration and production (E&P) producers. The largest
producer, is close to successfully completing a distress debt
exchange. Montage is being acquired by Southwestern Energy Corp.
(BB-/Negative).

These negatives are partially offset by the benefits from the
strategic location of its midstream assets within the Appalachian
Basin (Rich Utica, Rich Marcellus and Dry Gas Utica). The ratings
consider that Blue Racer's system is largely constructed and
operational. Fitch believes Blue Racer's ratings are limited by the
size and scale of its system.

KEY RATING DRIVERS

Counterparty Exposure: The ratings recognize that Blue Racer is
significantly exposed to lower rated or unrated counterparties,
with 83% of revenue as of the 2019 coming from 'B' category or
unrated producers. Ascent Resources (B expected/Stable) is the
largest generating 38% of 1H20 revenues, up from 22% of revenues in
2019. Less than 20% of the revenues are from MVCs, including CNX
Resources Corp. (BB/Stable). Most revenues come from dedicated
acreage contracts that provide a fixed fee but are subject to
volume risk. As such counterparty and volumetric risks are
overriding concerns.

Volumetric Risks: Blue Racer's ratings reflect that its operations
are exposed to volumetric risks associated with the domestic
production and demand for natural gas and NGLs extracted from the
Utica formation of the Appalachian basin. Fitch believes 2020
continues to be a challenging year for volumes. Despite being in
one of the most prolific gas basins in the U.S., all-time low
natural gas prices have impacted Appalachian producers drilling
plans. Most of the curtailed E&P during 2Q20 due to low prices and
lack of storage are back online. However, some E&P producers
continued curtailments through the fall shoulder months due to weak
natural gas and large pricing differentials ahead of the winter
heating season.

Fitch expects Blue Racer's processing volumes to be weaker in 2020
compared to 4Q19 driven by lower producer capital investment,
several episodes of curtailments for discrete causes, and the drop
in volumes from one producer that moved volumes to its own, newly
constructed plant. Fitch notes that the reduction in capital
spending and drilling activity by E&P producers is expected to
delay a return to volume growth until 2H21 into 2022.

Increased Refinancing Risk: If the winter of 2020/2021 is a warm
winter in either the U.S. or Europe, Blue Racer will have less
flexibility prevent the outstanding loans going current with the
publication of the 1Q21 financial statements. Approximately 77% of
the company debt is due between now and October 2022, including the
$1 billion secured revolver due March 2022 and the $700 million
unsecured notes October 2022. The company used draws under the
revolver ($350 million outstanding at June 30, 2020) to fund open
market purchases of the 2022 notes, reducing the balance to $700
million from $850 million, while capital spending was funded from
cash retention (i.e., distributions to owners could have been
higher). However, Blue Racer was not able to close a refinancing
transaction in July 2020. Fitch expects the company may need to pay
higher spreads and interest expenses in a sustained weak gas
environment.

Limited Scale and Scope: Blue Racer's ratings recognize the limited
scale and scope of the Appalachian basin focused gathering and
processing company. Fitch views small scale, single basin focused
midstream service providers with high geographic, customer and
business line concentration as being consistent with 'B' category.
Given the size and operations, Blue Racer could be exposed to
concentration risk and outsized event risk should there be a
downturn in commodity production from the Appalachian region or a
significant operating or production event with one of its major
counterparties. The ratings favorably reflect that the assets are
located within some of the lowest break-even cost gas production
regions in the Appalachian Basin and should return to growth in the
intermediate term.

Sponsor Support: Blue Racer's leverage (Total Debt with Equity
Credit/Operating EBITDA) is expected to remain around 5.0x. Fitch
notes that Blue Racer has implemented cost reduction measures in
response to the pandemic, including reducing capital spending by
approximately 20% and funding a board-established reserve for
capital and debt reduction. The sponsors have contributed equity to
fund growth capital in 2020 through dividend reinvestments.
Continued sponsor support, and specifically a clearly defined
dividend reinvestment policy, is needed, in Fitch's opinion, to
actively manage the challenging near-term volume levels and
subsequent increasing leverage ahead of the 2022 revolver and
senior note maturities.

Group structure Complexity: Blue Racer has an ESG Relevance Score
of 4 for Group Structure and Financial Transparency as
private-equity backed midstream entities typically have less
structural and financial disclosure transparency than publicly
traded issuers. This has a negative impact on the credit profile,
and is relevant to the rating in conjunction with other factors.

DERIVATION SUMMARY

Blue Racer's credit metrics are sound in the context of
single-region gathering and processing companies rated by Fitch
with Fitch forecasting leverage in 2021 around 5.0x as volumes
growth slows until 2H21. Blue Racer's leverage, as of June 30,
2020, on an LTM basis, was 4.7x. This is better than other single
basin gathering and processing names in the 'B' IDR category with
single basin exposure. Relative to somewhat smaller Medallion
Gathering & Processing, LLC (B/Negative), a Permian focused name
with gas producer, Blue Racer's leverage metrics are better between
the entities as Fitch expects Medallion's leverage (Total adjusted
debt/adjusted EBITDAR) to decline from 6.6x in 2020 to around 6.2x
in 2021. From a counterparty exposure, Fitch views Medallion to
have slightly less risk. Medallion has a mix of investment-grade
and small high yield counterparties, with Fitch expecting the
majority of 2020 production to come from high yield credit quality
producers.

KEY ASSUMPTIONS

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

  -- Fitch price deck, e.g. Henry Hub natural gas price of
$1.85/mcf in 2020, and $2.45/mcf over the long-term and WTI oil
price of $38/bbl in 2020, $42 in 2021, $47 in 2022, and $50 in
2023;

  -- Assume 2H20 volumes lower than 1Q20;

  -- Capital spending of between $60 million to $120 million during
the forecast;

  -- 100% of Cash Available for Distribution (CAFD) paid out to
owners without any retention of cash for reinvestment;

  -- Capital spending funded by revolver; revolver and notes
refunded in 2022 with similar structures;

  -- For the Recovery Rating, Fitch utilized a going-concern (GC)
approach with a 6x EBITDA multiple which approximates the multiple
seen in recent reorganizations in the energy sector. There have
been a limited number of bankruptcies and reorganizations within
the midstream sector. Two recent gathering and processing
bankruptcies of companies indicate an EBITDA multiple between 5.0x
and 7.0x, by Fitch's best estimates. In its recent Bankruptcy Case
Study Report, "Energy, Power and Commodities Bankruptcies
Enterprise Value and Creditor Recoveries", published in April 2019,
the median enterprise valuation exit multiplies for 35 energy cases
for which this was available was 6.1x, with a wide range; (Fix
spacing)

  -- Recovery analysis assumes a default driven by Blue Racer's
inability to refinance the revolver at maturity in March 2022. The
going concern EBITDA is estimated between $260 million-270 million.
Fitch calculated administrative claims to be 10%, which is a
standard assumption.

RATING SENSITIVITIES

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

  -- Improvement to the credit profile of or increased
diversification to Blue Racer's counterparty credit profile, with
leverage maintained below 4.5x on a sustained basis;

  -- Leverage at or better than 3.5x on a sustained basis, without
any improvement in counterparty credit profile.

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

  -- Leverage at or above 6.0x on a sustained basis;

  -- Funds Flow from Operations Fixed Charge Coverage Ratio below
2.0x;

  -- Inability to refinance the upcoming obligations in 2022;

  -- A significant customer filing for, or appears to be
approaching bankruptcy;

  -- A significant change in cash flow stability profile, driven by
a move away from the current majority of revenue being fee-based
with revenue commodity price exposure above 25%;

  -- A sustained moderation or decline in volumes expected across
Blue Racer's system.

LIQUIDITY AND DEBT STRUCTURE

Liquidity Adequate: Blue Racer's liquidity is supported by its $1.0
billion first-lien secured revolver, which had $350 million drawn
at June 30, 2020. The revolver matures in March 2020 followed by
$700 million unsecured notes in October 2022.

Fitch expects any cash needs for growth capital spending will be
funded with borrowings under the revolving credit facility. Blue
Racer as per its operating agreement is required to pay out all of
its cash available for distributions to its JV owners. Cash
available for distribution is defined as cash EBITDA less
maintenance capital expenditures less debt service.

Blue Racer is required to maintain a consolidated total leverage
ratio (as defined in the agreement) not to exceed 5.5x and
consolidated secured debt to EBITDA not to exceed 3.50x.
Additionally Blue Racer is required to maintain a consolidated
interest coverage ratio of no less than 2.5x. As of June 30, 2020,
Blue Racer complied with these covenants and Fitch expects that
Blue Racer will remain in compliance with these covenants for the
forecast.

REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF
RATING

The principal sources of information used in the analysis are
described in the Applicable Criteria.

ESG CONSIDERATIONS

Blue Racer Midstream, LLC: Group Structure: 4

Unless otherwise disclosed in this section, the highest level of
ESG credit relevance is a score of '3'. This means ESG issues are
credit-neutral or have only a minimal credit impact on the entity,
either due to their nature or the way in which they are being
managed by the entity.


BLUESTEM BRANDS: Court Approves Chapter 11 Plan
-----------------------------------------------
Law360 reports that fingerhut catalog owner Bluestem Brands Inc.
received approval Aug. 21, 2020, on its Chapter 11 plan, clearing
the way for it to make distributions to creditors following the
approval last July 2020 of the $250 million sale of the company to
a group of secured lenders.

During a hearing held virtually, U.S. Bankruptcy Judge Mary F.
Walrath gave her nod to the plan, saying the debtors had "presented
a factual and legal basis" it be confirmed.  "We are very proud to
bring this plan to you today with so much consensus," Bluestem
attorney W. Benjamin Winger of Kirkland & Ellis LLP told the judge.


                    About Bluestem Brands

Bluestem Brands, Inc. and its affiliates are a direct-to-consumer
retailer that offers fashion, home, and entertainment merchandise
through internet, direct mail, and telephonic channels under the
Orchard and Northstar brand portfolios.  Headquartered in Eden
Prairie, Minnesota, the Debtors employ approximately 2,200
individuals and own and/or lease warehouses, distribution centers,
and call centers in 10 other states, including New Jersey,
Massachusetts, Georgia, and California. The Debtors' supply chain
consists of name-brand vendors -- e.g., Michael Kors, Samsung,
Keurig, Dyson -- as well as private label and non-branded sources
based in the United States and abroad. For more information, visit
https://www.bluestem.com/

Bluestem Brands, Inc., based in Eden Prairie, MN, and its
affiliates sought Chapter 11 protection (Bankr. D. Del. Lead Case
No. 20-10566) on March 9, 2020.  In its petition, Bluestem Brands
was estimated to have $500 million to $1 billion in both assets and
liabilities.  The petition was signed by Neil P. Ayotte, executive
vice president, general counsel and secretary.

The Hon. Mary F. Walrath oversees the case.

The Debtors tapped YOUNG CONAWAY STARGATT & TAYLOR, LLP, and
KIRKLAND & ELLIS LLP, KIRKLAND & ELLIS INTERNATIONAL LLP as
counsels; FTI CONSULTING, INC., as financial advisor; RAYMOND JAMES
& ASSOCIATES, INC., as investment banker; IMPERIAL CAPITAL LLC, as
restructuring advisor; and PRIME CLERK LLC as claims and noticing
agent.


BOY SCOUTS OF AMERICA: Case Tangled Up Over Claims, Depositions
---------------------------------------------------------------
Law360 reports that the Boy Scouts' Chapter 11 case in Delaware was
further snarled when a pair of attorneys for abuse victims moved to
quash a Boy Scouts insurer's demands for their depositions, topping
a string of complications that cropped up late Wednesday.

The deposition objection arrived the same day that several local
Boy Scouts of America councils objected to granting subpoena power
to the official tort claimants committee -- which also represents
the victims -- for a probe into the councils' assets that could be
pursued for settlements.

                   About Boy Scouts of America

The Boy Scouts of America -- https://www.scouting.org/ -- is a
federally chartered non-profit corporation under title 36 of the
United States Code. Founded in 1910 and chartered by an act of
Congress in 1916, the BSA's mission is to train youth in
responsible citizenship, character development, and self-reliance
through participation in a wide range of outdoor activities,
educational programs, and, at older age levels, career-oriented
programs in partnership with community organizations. Its national
headquarters is located in Irving, Texas.

The Boy Scouts of America and affiliate Delaware BSA, LLC sought
Chapter 11 protection (Bankr. D. Del. Lead Case No. 20-10343) on
Feb. 18, 2020, to deal with sexual abuse claims.

Boy Scouts of America was estimated to have $1 billion to $10
billion in assets at least $500 million in liabilities as of the
bankruptcy filing.

The Debtors tapped Sidley Austin LLP as general bankruptcy counsel;
Morris, Nichols, Arsht & Tunnell LLP as Delaware counsel; and
lvarez & Marsal North America, LLC as financial advisor. Omni Agent
Solutions is the claims agent.



BOY SCOUTS: Court Tells Firms to Stop False Chapter 11 Ads
----------------------------------------------------------
Law360 reports that a Delaware bankruptcy judge told law firms they
can't tell prospective clients that sexual abuse claims against the
Boy Scouts of America can be pursued anonymously or that there's a
$1.5 billion fund waiting for them.

Two months shy of the November claims deadline, U.S. Bankruptcy
Judge Laurie Selber Silverstein gave a group of personal injury
firms a few new rules for the advertising campaigns they've run in
order to encourage victims to file their sexual abuse claims
against the bankrupt organization.  In August 2020, the Boy Scouts
accused the firms of going off-script in describing the claims
process.

BSA said its notification process for sexual abuse survivors is
underway, but that other groups have launched their own advertising
campaigns. Roughly 11,000 television spots about the sexual abuse
claims have already aired, and some of the assertions are
"misleading" and out of step with the notification language
approved by the court earlier this year, BSA said.

                  About Boy Scouts of America

The Boy Scouts of America -- https://www.scouting.org/ -- is a
federally chartered non-profit corporation under title 36 of the
United States Code. Founded in 1910 and chartered by an act of
Congress in 1916, the BSA's mission is to train youth in
responsible citizenship, character development, and self-reliance
through participation in a wide range of outdoor activities,
educational programs, and, at older age levels, career-oriented
programs in partnership with community organizations. Its national
headquarters is located in Irving, Texas.

The Boy Scouts of America and affiliate Delaware BSA, LLC sought
Chapter 11 protection (Bankr. D. Del. Lead Case No. 20-10343) on
Feb. 18, 2020, to deal with sexual abuse claims.

Boy Scouts of America was estimated to have $1 billion to $10
billion in assets at least $500 million in liabilities as of the
bankruptcy filing.

The Debtors tapped Sidley Austin LLP as general bankruptcy counsel;
Morris, Nichols, Arsht & Tunnell LLP as Delaware counsel; and
Alvarez & Marsal North America, LLC as financial advisor.


BOY SCOUTS: Court Tells Victims Coalition to Release Docs
---------------------------------------------------------
Law360 reports that a Delaware bankruptcy judge on Sept. 9, 2020,
ordered substantial public disclosure of retention agreements filed
by an ad hoc committee for abuse victims in Boy Scouts of America's
Chapter 11 case amid arguments that the restrictions masked
possible ethical violations.

U.S. Bankruptcy Judge Laurie Selber Silverstein's ruling followed
weeks of battling over closely held details about the Coalition of
Abused Scouts for Justice's arrangements with several law firms
representing 12,000 or more men alleging victimization by people
associated with Scouting and having  potential Chapter 11 claims.

                  About Boy Scouts of America

The Boy Scouts of America -- https://www.scouting.org/ -- is a
federally chartered non-profit corporation under title 36 of the
United States Code. Founded in 1910 and chartered by an act of
Congress in 1916, the BSA's mission is to train youth in
responsible citizenship, character development, and self-reliance
through participation in a wide range of outdoor activities,
educational programs, and, at older age levels, career-oriented
programs in partnership with community organizations. Its national
headquarters is located in Irving, Texas.

The Boy Scouts of America and affiliate Delaware BSA, LLC sought
Chapter 11 protection (Bankr. D. Del. Lead Case No. 20-10343) on
Feb. 18, 2020, to deal with sexual abuse claims.

Boy Scouts of America was estimated to have $1 billion to $10
billion in assets at least $500 million in liabilities as of the
bankruptcy filing.

The Debtors tapped Sidley Austin LLP as general bankruptcy counsel;
Morris, Nichols, Arsht & Tunnell LLP as Delaware counsel; and
Alvarez & Marsal North America, LLC as financial advisor. Omni
Agent Solutions is the claims agent.






BRIGHTSTAR CORP: S&P Assigns 'B-' ICR on Leveraged Buyout
---------------------------------------------------------
S&P Global Ratings assigned its 'B-' issuer credit rating to
Brightstar Corp. (Brightstar), which is being acquired by
Brightstar Capital Partners, a private-equity sponsor, for
approximately $775 million to be partially funded with the proceeds
from $420 million of new senior secured notes.

At the same time, S&P assigned its 'B-' issue-level rating and '4'
recovery rating to the company's $420 million senior secured notes
due 2025.

"The stable outlook reflects our expectation that Brightstar will
improve its operating performance as it benefits from its
turnaround program. Under our base-case forecast, we expect the
company's adjusted debt to EBITDA to be in the mid-5x area over the
next 12 months while it generates modest cash flow deficits and
maintains at least $200 million of available liquidity," S&P said.

S&P's rating on Brightstar reflects the following key risks and
strengths.

Key risks:

-- Material execution risk related to its business turnaround as
the company sharpens its business strategy and unwinds from years
of underperformance;

-- Intense price-based competition and low distributor-like
operating margins;

-- Narrow end-market focus, fragmented global distribution
(especially in developing markets), and complex operations across
multiple geographies;

-- Significant customer and supplier concentration; and

-- High adjusted debt leverage, financial-sponsor control, and
modest cash flow deficits over the next 12 months.

Key strengths:

-- A sharp improvement in year-over-year adjusted EBITDA margins
due to the reorganization of its business;

-- A leading global service provider operating in the mature
mobile device supply chain and lifecycle management solutions
segment; and

-- A relatively small but growing device protection business.

-- Management's ongoing cost restructurings will boost the
company's profit margins in 2020 and 2021, though the
sustainability of this improvement is uncertain.

Following the changes to its executive management team in 2019,
Brightstar has effectively unwound certain of its large
unprofitable or low-margin businesses and implemented aggressive
cost-reduction programs. The company's year-to-date (YTD) operating
performance as of June 30, 2020, demonstrates its good progress
given the rise in its reported EBITDA to $104 million from a
deficit of $28 million during the same period a year prior.
However, despite its early success, S&P believes Brightstar will
face execution risk as it continues to right-size the business and
improve its productivity. It also believes the company's large
decentralized international operations will increase the complexity
of its restructuring initiatives. Brightstar generates roughly
two-thirds of its revenue internationally and high revenue from
developing markets exposes it to additional risks, such as unique
legal and regulatory requirements, foreign-exchange fluctuations,
and uncertain political and economic conditions. Additionally, S&P
expects the company will have to compete on price to win back lost
market share and attract new customers as it builds its
capabilities and reputation. Although it expects Brightstar to
improve its margin and maintain more stable operations going
forward, S&P expects the company to face ongoing restructuring
costs over the next 12-24 months. This is because the rating agency
believes it will take longer for the company to simplify its
business due to the organizational complexity of its broad global
distribution network.

Brightstar has historically incurred large operating losses because
of uneconomic contracts, poor decision making, and/or mistimed
acquisitions. Exiting its unprofitable businesses has enabled it to
quickly boost its profitability despite the sharp decline in its
revenue.

S&P forecasts the company's revenue will decline by roughly 46% to
$4.9 billion for 2020, which partially reflects the discontinuance
of its Next Wireless business in the fourth quarter of 2019, its
exit from the Sprint supply chain and accessories contract that
terminated in August 2020, its withdrawal from unprofitable
countries such as Brazil and Spain, and the effects of the global
economic recession caused by the coronavirus pandemic. S&P expects
Brightstar to significantly improve its adjusted EBITDA margin to
the mid-2% range in 2020 from 0.7% as of year-end 2019. The
improvement in the company's margin will also be supported by a
shift in its revenue mix toward the higher-margin device protection
business and a sharp reduction in its selling, general, and
administrative (SG&A) costs. It is unclear how the reduction in its
volume will affect the rebates and promotional incentives it
receives from suppliers, though S&P will continue to monitor this
as part of its surveillance process.

The company's intense price-based competition and high supplier and
customer concentration limit S&P's business assessment.

Brightstar's top 10 customer programs accounted for about 55% of
its YTD gross profit as of June 30, 2020, and it derived a
significant percentage of its total sales from its top two original
equipment manufacturers (OEMs) Apple and Samsung. Under SoftBank's
control, Brightstar lost a significant amount of business from
major U.S. wireless carriers due to its contract arrangement with
Sprint. However, S&P believes it is possible that the company's
increased penetration among large wireless carriers could help
broaden its customer base. Nevertheless, over the longer run S&P
believes the company's revenue will largely depend on the
performance of its OEMs and customer adoption of its new products.
OEM partnerships are generally non-exclusive, can be terminated on
short notice, and adverse changes to them could reduce the demand
for Brightstar's services as the industry evolves. Additionally,
S&P views the company as a price taker from the OEMs, believe it
depends on them for product availability and end-customer demand,
and view it as having a limited ability to quickly pass through
increased supplier costs." Brightstar is also exposed to the
average sale price (ASP) of mobile phones, which can affect its
inventory management and lead to write downs of, and declines in,
its inventory value.

The mobile phone market has become more mature and S&P now expects
the number of mobile phones shipped worldwide from 2019–2024 to
decline by a compound annual growth rate (CAGR) of roughly 1%. In
addition, International Data Corp. (IDC) expects the ASP of mobile
phones in North America to drop. S&P's high expected growth rates
for used device shipments because of extended product refresh
cycles, 5G upgrades, and a longer useful life for devices partially
offset these factors. S&P views the industry as intensely
price-competitive and consider OEM partnerships, timely product
distribution, and availability and service quality to be key
competitive characteristics. Brightstar competes against bigger and
more diversified competitors in the wireless services industry such
as New Asurion and Assurant Inc. in the device protection segment
and Ingram Micro and Tech Data in its distribution segment.

High adjusted leveraged in the low-5x area will limit the company's
financial flexibility and free cash flow generation through 2021.

Pro forma for the transaction, S&P estimates that Brightstar had
adjusted leverage of 5.6x as of year-end 2020. S&P anticipates that
the company will experience only modest deleveraging in 2021
stemming from its good execution on management's turnaround
program. However, ongoing restructuring costs and flat revenue and
margin growth will likely lead to modest cash flow deficits over
the next 12-18 months. The company uses factoring and supply chain
financing agreements to help monetize its receivables, which S&P
treats as debt in accordance with the rating agency's criteria. The
company also utilizes bank facilities to help fund its foreign
operations, which are mostly related to its Hong Kong treasury
management. Over time, S&P expects Brightstar to supplement its
treasury management and working capital financing flexibility with
foreign credit lines. However, S&P has not factored any additional
borrowings into its adjusted gross debt forecast.

Nevertheless, the company's small but growing device protection
business should provide some earnings stability.

S&P expects Brightstar's higher-margin device protection business
to account for a greater percentage of its gross profit and
anticipate the reoccurring nature of this revenue will likely
support its earnings stability. The company's device protection
business generated revenue of $324 million for the 12 months ended
June 30, 2020, and reported healthy gross margins, which compares
with the significantly lower mid-single-digit percent area for its
supply chain and BBTI segments.

While under SoftBank's ownership, due to competitive restrictions
in the U.S., Brightstar was not strategically focused on the device
protection business. This allowed its large competitors to entrench
themselves with the big U.S. carriers. Therefore, S&P expects the
company will have to compete on price to win new customers in the
device protection market and make investments to enhance its
customer experience and sell-through rates. However, gaining market
share from the large tier-1 wireless carriers will be difficult
given the dominance of New Asurion and Assurant. Nevertheless,
Brightstar has continued to make progress in expanding this
important segment. For example, the company recently sold its
device protection solutions to a large credit card issuer that will
provide its device protection services as part of certain
membership benefits programs. In addition, the company acquired We
Fix in the first quarter of 2020, which will provide it with rapid
repair capabilities in the U.K. S&P also understands that
Brightstar has improved it net promoter score (NPS) as management
increases its strategic focus on this segment.

Additionally, S&P believes the company has sufficient liquidity to
support its turnaround needs over the next 12 months.

Pro forma for the transaction, the company will have roughly $382
million in balance sheet cash, of which roughly $100 million-$150
million is held in the U.S. The company uses a notional pooling
mechanism to help it maximize its overseas funds. However, capital
controls or repatriation taxes will likely limit its available
cash. Brightstar also has a $250 million priority asset-based
lending (ABL) facility, which S&P expects it to have a $19.3
million draw on at close, and $55 million of outstanding letters of
credit (LOCs). This will leave the company with total availability
of about $175 million pro forma for the transaction. The ABL is
subject to seasonal fluctuations in its borrowing base due to the
company's levels of inventory and receivables.

S&P believes the company requires approximately $150 million to
fund its operations. Brightstar has historically experienced high
working capital requirements given the capital-intensive nature of
its business, particularly around inventory management and
receivables because its supplier vendor payment terms average about
60 days. The company generated roughly $300 million in working
capital inflows for the first half of 2020 due to its managed
revenue declines. S&P expects some of this working capital inflow
to reverse over the next 12 months and forecast that working
capital will be a roughly $40 million-$50 million usage of its
cash. Additionally, S&P forecasts that Brightstar's capital
expenditure (capex) will increase to roughly $50 million in 2021
due to its increased investment in distribution facilities,
including investments for modern warehouses in Dallas and the U.K.

Under its base case, S&P projects free operating cash flow (FOCF)
deficits of roughly $20 million-$30 million in 2021 before the
company's FOCF turns positive in 2022.

"The stable outlook on Brightstar reflects our expectation for an
improving operating performance as the company benefits from its
turnaround program. Under our base case, we forecast adjusted debt
to EBITDA in the mid-5x area over the next 12 months, modest cash
flow deficits, and at least $200 million of available liquidity,"
S&P said.

S&P could downgrade Brightstar if:

-- S&P expects its available liquidity to fall below $200 million;
or

-- S&P concludes its capital structure is unsustainable

Under this scenario, S&P would expect the following:

-- Organic revenue declines due to weak demand for mobile phones
from key suppliers Apple and Samsung or a downturn in used phone
trade-ins because of the COVID-19 pandemic and economic recession;

-- Pricing pressure on the ASP of mobile phones subsequent to
inventory write downs or product shortages and due to changing
terms from suppliers; or

-- Higher-than-expected liquidity needs related to its
restructuring efforts, greater-than-expected cash flow deficits or
working capital usage, or high foreign operating needs or
restrictions.

S&P could upgrade Brightstar if:

-- The company reports low- to mid-single digit percent organic
revenue growth and an improvement in its EBITDA margin to the high
2% area or above; and

-- It sustains adjusted leverage of less than 5x with FOCF to debt
in the mid- to high-single-digit percent area or above.

Under this scenario, S&P would expect the following:

-- A strong operating performance with solid growth from the
company's high-margin device protection business;

-- Improved working capital efficiency; and

-- New contract wins with tier-1 carriers.


BUZZ FINCO: S&P Cuts Secured Debt Rating to 'B' on Add-On Term Loan
-------------------------------------------------------------------
S&P Global Ratings affirmed its 'B' issuer credit rating on Buzz
Finco LLC (previously Buzz Merger Sub Ltd.), d/b/a Bumble
(previously MagicLab). At the same time, the increase in debt
lowers the overall recovery prospects for the company's secured
debt, so S&P lowered its issue-level rating to 'B' from 'B+'.

S&P said, "We have revised our recovery rating on the company's
senior secured debt to '3' from '2', indicating our expectation of
meaningful (50%-70%; rounded estimate: 65%) recovery, in the event
of default."

"The stable outlook reflects our expectation that Bumble will
continue to increase its annual revenues in the mid- to high-teens
percentage area in 2020 and 2021 primarily through paying users and
average revenue per user (ARPU), and reduce leverage below 6x over
the next 12 months."

The ratings affirmation reflects the company's solid subscriber and
revenue growth, secular trends supporting online dating, which have
to some degree accelerated during the COVID-19 pandemic, moderation
of litigation risk following the settlement of its lawsuit with the
Match group, good free cash flow conversion, and S&P's expectation
the company would reduce its leverage to below 6x over the next 12
months mainly through EBITDA growth.

S&P's rating on Bumble also reflects its distant second
market-leader position in online dating, its limited portfolio of
apps, its participation in a competitive industry against larger
and better-capitalized players, and limited barriers to entry.
Bumble is best known within the U.S. for its fast-growing dating
app Bumble and outside the U.S. for its more mature dating app
Badoo. Bumble's market position, popularity among women, recent
strong revenue growth from improved monetization, and tailwinds in
online dating from mass adoption only partly offset these risks.

Bumble is seeking to raise a new $200 million incremental term loan
due 2027. With proceeds, and excess cash on hand, it will fund
approximately $285 million in distributions to shareholders. S&P
forecasts the company's adjusted debt to EBITDA to be about 7x at
fiscal year-end 2020 declining to about the high-5x area at fiscal
year-end 2021.

Industry growth trends are positive in the online dating industry
especially in the age of COVID-19.

Over the past decade, online dating has become mainstream, with
over one-third of U.S. couples meeting online in 2019 as per Pew
Research Center and Jefferies Research. Consumer preferences for
online dating channels and declining marriage rates represent
continued secular growth, which benefits all online dating
channels, including Bumble. In S&P's view, companies that can drive
consumers to their apps and convert free users to paid users,
effectively engage users with frequent updates, and increase
average revenue per user through continued innovation are best
positioned to succeed in this space. In addition, due to social
distancing requirements to reduce the spread of the COVID-19
pandemic, adoption of online tools to purchase services and to
conduct social interactions has grown exponentially, accelerating
the secular trend towards the use of online services such as online
dating. While these trends are somewhat offset by economic
contraction and rising unemployment reducing consumer disposable
income S&P believes adoption of online tools will continue to
accelerate the long term secular trend for online dating and
support continued growth in subscribers.

Revenue and earnings concentration in just two apps poses a
competitive risk.

While Bumble has carved out a good position, especially among
female subscribers with the Bumble app, S&P believes its limited
product offering exposes the company to competitive risks. The
revenue concentration creates elevated risk if user engagement and
subscribers decline due to increased competition or lack of feature
innovation. Subscriber stagnation could result in margin
compression because Bumble would need to increase spending on
customer acquisition/retention and product development, which could
pressure credit metrics.

Free operating cash flow is healthy despite relatively high
leverage.

S&P said, "With the planned debt-financed distribution Bumble's
leverage will increase to around 7.0x at fiscal year-end 2020. We
expect leverage will decline quickly to the high-5x area by 2021,
primarily because of EBITDA growth. Despite the relatively high
leverage, we expect Bumble to generate healthy free operating cash
flow. We expect free operating cash flow to debt in the
high-single-digit percentage area in 2020 increasing to the
low-double-digit percentage area in 2021 due to EBITDA growth,
minimal working capital use, and modest capital expenditure. We
expect Bumble will use its cash flows to fund investments,
acquisitions, or to pursue shareholder returns mainly via special
dividends given its private equity ownership."

"The stable outlook reflects our expectation that Bumble will
continue to grow its annual revenues in the mid- to high-teens
percentage area in 2020 and 2021 through increasing paying users
and average revenue per user, and reduce leverage below 6x over the
next 12 months."

S&P could lower the rating on Bumble over the next 12 months if:

-- Leverage metrics remain elevated at around 7x or if its free
operating cash flow to debt decline below 5% on a sustained basis;

-- The company experiences operating challenges such as weak user
engagement and monetization in one or both of its apps that lead to
flat or declining revenues, margin compression, and limited cash
flow generation; or

-- If the company adopted a more aggressive financial policy that
resulted in the company continuing to pursue sizable debt-financed
dividends.

S&P could raise the rating over the next 12 months if:

-- The company to reduce its leverage below 5x on a sustained
basis; or

-- Purses a financial policy that prioritizes leverage reduction,
in addition to it exhibiting solid subscriber, ARPU and EBITDA
growth trends.


CAH ACQUISITION 12: Plan Exclusivity Extended to December 1
-----------------------------------------------------------
Judge Joseph N. Callaway granted the application filed by Thomas W.
Waldrep, Jr., the Trustee of CAH Acquisition Company 12, LLC d/b/a
Fairfax Community Hospital, to extend the period within which the
Debtor has the exclusive right to obtain acceptances to a Chapter
11 plan to December 1, 2020.

On October 17, 2019, the Trustee filed the Amended Chapter 11 Plan
and Disclosure Statement for the Estate. The hearing on plan
confirmation was scheduled for September 22, 2020.

The Court has entered orders approving the sales of the Debtor's
assets, as well as the sales of the assets of the Debtor's six
other affiliates in Chapter 11 cases pending before the U.S.
Bankruptcy Court for the Eastern District of North Carolina,
Greenville Division. As of August 26, 2020, the Trustee completed
the sale of the Debtor's property.

Five of the seven Sale Orders provide for mediated settlement
conferences between the Trustee, Complete Business Solutions Group,
Paul Nusbaum and Steve White and, in three of the Sale Orders,
Cohesive Healthcare Management & Consulting LLC and together with
the Trustee, CBSG, and Nusbaum/White, known as the Mediation
Parties.

The Mediation Parties have been actively engaged in mediation and
efforts to conclude the mediated settlement conference remains
ongoing. The outcome of the mediation will almost certainly result
in necessary amendments to the plans in five of the affiliated
cases.

                About CAH Acquisition Company 12

CAH Acquisition Company 12, LLC is a Delaware limited liability
company that owns a for-profit, 15-bed hospital located at 40
Hospital Road, Fairfax, Okla.  It conducts business under the name
Fairfax Community Hospital.

CAH Acquisition Company 12 filed a voluntary Chapter 11 petition
(Bankr. N.D. Okla. Case No. 19-10641) on April 1, 2019.  On April
15, 2019, the case was transferred to the U.S. Bankruptcy Court for
the Eastern District of North Carolina and was assigned a new case
number (Case No. 19-01697).  The case is jointly administered along
with six other critical access hospitals under the Chapter 11 case
of CAH Acquisition Company #1, LLC (which conducts business under
the name Washington County Hospital) (Case No. 19-00730).

The Honorable Joseph N. Callaway is the case judge. Greenberg
Traurig, LLP is Debtors' legal counsel. Thomas W. Waldrep, Jr., was
appointed as Chapter 11 trustee for Debtors. The trustee's own
firm, Waldrep LLP, serves as his legal counsel.  Sherwood Partners,
Inc. was appointed as the trustee's sales agent on Oct. 23, 2019.
The Chapter 11 trustee also has tapped McDonald Hopkins, LLC as his
special counsel.

The firm can be reached through:

     Sean D. Malloy, Esq.,
     McDonald Hopkins LLC
     600 Superior Avenue, East, Suite 2100
     Cleveland, OH 44114-2653
     Telephone: (216) 348-5400
     Facsimile: (216) 348-5474
     Email: smalloy@mcdonaldhopkins.com


CAH ACQUISITION 16: Plan Exclusivity Extended to November 17
------------------------------------------------------------
Judge Joseph N. Callaway granted the application filed by Thomas W.
Waldrep, Jr., the Trustee of CAH Acquisition Company 16, LLC d/b/a
Haskell County Community Hospital, to extend the period within
which the Debtor has the exclusive right to obtain acceptances for
a Chapter 11 plan to November 17, 2020.

On October 17, 2019, the Trustee filed the Amended Chapter 11 Plan
and Disclosure Statement for the Estate. The hearing on plan
confirmation was scheduled for September 22, 2020.

The Court has entered orders approving the sales of the Debtor's
assets, as well as the sales of the assets of the Debtor's six
other affiliates in Chapter 11 cases pending before the U.S.
Bankruptcy Court for the Eastern District of North Carolina,
Greenville Division. As of August 26, 2020, the Trustee completed
the sale of the Debtor's property.

Five of the seven Sale Orders provide for mediated settlement
conferences between the Trustee, Complete Business Solutions Group,
Paul Nusbaum and Steve White and, in three of the Sale Orders,
Cohesive Healthcare Management & Consulting LLC and together with
the Trustee, CBSG, and Nusbaum/White, known as the Mediation
Parties.

The Mediation Parties have been actively engaged in mediation and
efforts to conclude the mediated settlement conference remains
ongoing. The outcome of the mediation will almost certainly result
in necessary amendments to the plans in five of the affiliated
cases.

            About Haskell County Community Hospital

CAH Acquisition Company 16, LLC, is a Delaware limited liability
company that owns a for-profit, 25-bed hospital 401 NW H Street,
Stigler, Oklahoma 74462.  The Hospital is classified as a Critical
Access Hospital by the Centers for Medicare and Medicaid Services.

It is currently owned by two members, HMC/CAH Consolidated, Inc.,
and Health Acquisition Company, LLC. Prior to March 2017, the
Debtor was wholly owned by HMC/CAH.

On March 17, 2019, CAH Acquisition Company 16, LLC d/b/a Haskell
County Community Hospital, filed a voluntary petition for relief
under Chapter 11 of Title 11 of the United States Code (Bankr.
E.D.N.C. Case No. 19-01227-5).

The case is jointly administered along with six other critical
access hospitals under the Chapter 11 case of CAH Acquisition
Company #1, LLC d/b/a Washington County Hospital, Case No.
19-00730-5-JNC.

On March 15, 2019, Thomas W. Waldrep, Jr., was appointed as Chapter
11 Trustee for the Debtors.  The Trustee's own firm, WALDREP LLP,
serves as counsel in the Chapter 11 case.  Sherwood Partners, Inc.,
was appointed as sales agent to the Trustee.

On April 7, 2020, Judge Joseph N. Callaway of the U.S. Bankruptcy
Court for the Eastern District of North Carolina authorized Thomas
W. Waldrep, Jr., the duly appointed Chapter 11 Trustee in the case
of CAH Acquisition Co. 16, LLC, doing business as Haskell County
Community Hospital, to sell all real property and associated
personal property of the Debtor, to Haskell Regional Hospital, Inc.
for $200,000 in cash and retention by the estate of 100% of the
accounts receivable.

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


CAH ACQUISITION 6: Plan Exclusivity Extended to November 21
-----------------------------------------------------------
Judge Joseph N. Callaway granted the application filed by Thomas W.
Waldrep, Jr., the Trustee of CAH Acquisition Company 6, LLC d/b/a
I-70 Community Hospital, to extend the period within which the
Debtor has the exclusive right to obtain acceptances to a Chapter
11 plan to November 21, 2020.

On October 17, 2019, the Trustee filed the Amended Chapter 11 Plan
and Disclosure Statement for the Estate. The hearing on plan
confirmation was scheduled for September 22.

The Court has entered orders approving the sales of the Debtor's
assets, as well as the sales of the assets of the Debtor's six
other affiliates in Chapter 11 cases pending before the U.S.
Bankruptcy Court for the Eastern District of North Carolina,
Greenville Division. As of August 26, 2020, the Trustee completed
the sale of the Debtor's property.

Five of the seven Sale Orders provide for mediated settlement
conferences between the Trustee, Complete Business Solutions Group,
Paul Nusbaum and Steve White and, in three of the Sale Orders,
Cohesive Healthcare Management & Consulting LLC and together with
the Trustee, CBSG, and Nusbaum/White, known as the Mediation
Parties.

The Mediation Parties have been actively engaged in mediation and
efforts to conclude the mediated settlement conference remains
ongoing. The outcome of the mediation will almost certainly result
in necessary amendments to the plans in five of the affiliated
cases.

                About CAH Acquisition Company 6

CAH Acquisition Company 6, LLC d/b/a I-70 Community Hospital, owns
a for-profit 15-bed hospital and rural health clinic located at 105
Hospital Drive, Sweet Springs, Missouri.

CAH Acquisition Company 6 sought Chapter 11 protection (Bankr.
E.D.N.C. Case No. 19-01300) on March 14, 2019.  Affiliates of the
Debtor simultaneously filed voluntary Chapter 11 petitions.

The Honorable Joseph N. Callaway is the case judge.  Spilman Thomas
& Battle, PLLC, is the Debtors' counsel.

On March 15, 2019, Thomas W. Waldrep, Jr., was appointed as Chapter
11 Trustee for the Debtors.  The Trustee's own firm, WALDREP LLP,
serves as counsel in the Chapter 11 cases. Sherwood Partners, Inc.,
was appointed as Sales Agent to the Trustee on Oct. 23, 2019.

On February 25, 2020, Judge Joseph N. Callaway of the U.S.
Bankruptcy Court for the Eastern District of North Carolina
authorized Thomas W. Waldrep, Jr., the duly appointed Chapter 11
Trustee in the case of CAH Acquisition Co. #6, LLC, doing business
as I-70 Community Hospital, to sell all real property and
associated personal property of the Debtor, to Affinity Health
Partners, LLC for $3.4 million.


CAH ACQUISITION 7: Plan Exclusivity Extended to November 21
-----------------------------------------------------------
Judge Joseph N. Callaway granted the application filed by Thomas W.
Waldrep, Jr., the Trustee of CAH Acquisition Company 7, LLC d/b/a
Prague Community Hospital, to extend the period within which the
Debtor has the exclusive right to obtain acceptances to a Chapter
11 plan to November 21, 2020.

On October 17, 2019, the Trustee filed the Amended Chapter 11 Plan
and Disclosure Statement for the Estate. The hearing on plan
confirmation was scheduled for September 22.

The Court has entered orders approving the sales of the Debtor's
assets, as well as the sales of the assets of the Debtor's six
other affiliates in Chapter 11 cases pending before the U.S.
Bankruptcy Court for the Eastern District of North Carolina,
Greenville Division. As of August 26, 2020, the Trustee completed
the sale of the Debtor's property.

Five of the seven Sale Orders provide for mediated settlement
conferences between the Trustee, Complete Business Solutions Group,
Paul Nusbaum and Steve White and, in three of the Sale Orders,
Cohesive Healthcare Management & Consulting LLC and together with
the Trustee, CBSG, and Nusbaum/White, known as the Mediation
Parties.

The Mediation Parties have been actively engaged in mediation and
efforts to conclude the mediated settlement conference remains
ongoing. The outcome of the mediation will almost certainly result
in necessary amendments to the plans in five of the affiliated
cases.

                About CAH Acquisition Company 7

CAH Acquisition Company 7, LLC is a Delaware limited liability
company that owns a for-profit, 15-bed hospital located at 1322
Klabzuba Avenue, Prague, Okla.  It conducts business under the name
Prague Community Hospital.  It is currently owned by two members,
HMC/CAH Consolidated, Inc. (20% membership), and Health Acquisition
Company, LLC (80% membership).

CAH Acquisition Company 7, along with numerous other affiliated
entities, previously filed a voluntary Chapter 11 bankruptcy case
(Bankr. W.D. Mo. Case No. 11-44745) on October 10, 2011, and won
confirmation of its Chapter 11 plan in December 2012.

On March 21, 2019, CAH Acquisition Company 7 again sought Chapter
11 protection (Bankr. E.D.N.C. Case No. 19-01298).  The case is
jointly administered along with six other critical access hospitals
under the Chapter 11 case of CAH Acquisition Company #1, LLC (which
conducts business under the name Washington County Hospital) (Case
No.19-00730).

The Debtor was estimated to have assets of less than $50,000 and
liabilities of $1 million to $10 million.  

The Honorable Joseph N. Callaway is the case judge.  Greenberg
Traurig, LLP is Debtor's legal counsel.

Thomas W. Waldrep, Jr. was appointed as Chapter 11 trustee for
Debtor.  The trustee's own firm, Waldrep LLP, serves as counsel in
the Chapter 11 case.  Sherwood Partners was appointed as the
trustee's sales agent on October 23, 2019.

The Chapter 11 trustee hired McDonald Hopkins, LLC as his special
counsel.


CHESAPEAKE ENERGY: In Fight With FERC Over Pipe Contracts
---------------------------------------------------------
Chesapeake Energy wants to terminate a $300 million pipeline
contract in its Chapter 11 bankruptcy proceedings, Kallanish Energy
reports.

That request has been opposed by pipeline giant Texas-based Energy
Transfer.

Now the Federal Energy Regulatory Commission is supporting Energy
Transfer and is getting involved in the ongoing legal fight,
Reuters reported.

FERC has argued in bankruptcy filings that it should have equal say
with the bankruptcy court over regulated pipeline contracts, it
said.  

The latest issue arose after Chesapeake Energy asked the U.S.
Bankruptcy Court in Houston, Texas, to approve breaking pipeline
contracts for moving natural gas including with Energy Transfer and
Crestwood Equity Partners.

That request was filed last June when Chesapeake filed for Chapter
11 protection.

The Oklahoma-based company also sued the FERC to keep two pipeline
companies, ETC Tiger Pipeline and Gulf Southern, from interfering
in its Chapter 11 proceedings.

Chesapeake said the negotiated contracts with those two pipeline
companies could threaten its Chapter 11 reorganization plan.

It said it wanted the bankruptcy court, not FERC, decide the
issue.

                    About Chesapeake Energy

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

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

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

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



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

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

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

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


CHESAPEAKE ENERGY: Sets Sale Process for Mid-Con Assets
-------------------------------------------------------
Steven Church of Bloomberg News reports that Chesapeake Energy
Corp. won court approval to try to sell energy assets in the
Oklahoma and Texas area known as the Mid-Con region.

Under an order approved Tuesday by U.S. Bankruptcy Judge David
Jones, Chesapeake has until Oct. 22, 2020 to name a lead bidder for
an auction that would be held on Nov. 10, 2020.

Chesapeake signed confidentiality agreements giving 58 potential
bidders details about the assets, the company said in court papers
filed last September 2020.

                      About Chesapeake Energy

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

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

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

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


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

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

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

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


CHESAPEAKE ENERGY: Wins Court OK for Ch. 11 Exit Financing
----------------------------------------------------------
Steven Church of Bloomberg News reports that Chesapeake Energy
Corp. won court approval for a more than $3 billion financing
package to help the company exit bankruptcy, months before the
corporation is likely to be ready to end its Chapter 11 case.

U.S. Bankruptcy Judge David R. Jones overruled complaints by a
committee unsecured creditors that an early approval of the
financing deal would hurt the chance they could improve their
recovery in the case.  The panel represents creditors owed about
$3.5 billion.

Under the financing package, lenders, including some who were
financing Chesapeake before it filed for bankruptcy in June 2020.

                   About Chesapeake Energy

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

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

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

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



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

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

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

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


CHUCK E. CHEESE: Drops Sale Plans for Debt-for-Equity Swap
----------------------------------------------------------
Law360 reports that the owner of pizza arcade chain Chuck E. Cheese
told a Texas bankruptcy judge Thursday that it had not received
sufficient interest to continue along a potential sale track for
its assets and would be pivoting to a debt-for-equity swap with its
existing lenders.

During a virtual hearing, debtor attorney Matthew S. Barr of Weil
Gotshal & Manges LLP said CEC Entertainment Inc. had determined
that the threshold sale price it needed to achieve in order to
satisfy its secured term loan obligations was $875 million, and
that numerous potential bidders had balked at meeting that price.

                       About CEC Entertainment

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

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

On June 24, 2020, CEC Entertainment and its affiliates sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D.
Tex. Lead Case No. 20-33163).

Judge Marvin Isgur oversees the cases.

Debtors have tapped Weil, Gotshal & Manges, LLP as bankruptcy
counsel, FTI Consulting, Inc. as financial advisor, PJT Partners LP
as investment banker, Hilco Real Estate, LLC as real estate
advisor, and Prime Clerk, LLC, as claims, noticing and solicitation
agent.

The Office of the U.S. Trustee appointed a committee of unsecured
creditors on July 13, 2020. The committee has tapped Kelley Drye &
Warren, LLP and Womble Bond Dickinson (US), LLP as its legal
counsel, and Alvarez & Marsal North America, LLC as its financial
advisor.



CLARE OAKS: Reaches Deal With Bondholders on Plan
-------------------------------------------------
The majority bondholders and Clare Oaks, the owner and operator of
a continuing care retirement community outside of Chicago,
announced that they have reached agreement on a consensual
restructuring plan in Clare Oaks' Chapter 11 bankruptcy case.

Bondholders Lapis Advisers, LP and Amundi Pioneer Asset Management,
Inc. spent months negotiating an agreement with Clare Oaks and the
Official Committee of Unsecured Creditors that provides residents
of the community with financial stability and security for the
future, including new physical plant upgrades to the community as
well as other benefits. An additional highlight is that the
community will be hereafter managed by ER Senior Management, LLC, a
professional management company whose staff has a long history of
successfully managing continuing care retirement communities.

Judge Donald Cassling approved the disclosure documents submitted
by the bondholders and ruled that the reorganization plan may move
forward to a vote of the Clare Oaks residents and other creditors.

                        About Clare Oaks

Clare Oaks -- https://www.clareoaks.com/ -- is a not-for-profit
corporation that operates a continuing care retirement community.
Its facilities and services include independent living, assisted
living, skilled nursing, rehabilitation, and memory care services.

Clare Oaks sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. N.D. Ill. Case No. 19-16708) on June 11, 2019. It
previously sought bankruptcy protection (Bankr. N.D. Ill. Case No.
11-48903) on Dec. 5, 2011 .

At the time of the filing, the Debtor estimated assets of between
$10 million and $50 million and liabilities of between $100 million
and $500 million.  

Judge Donald R. Cassling oversees the case.

The Debtor tapped Polsinelli PC as legal counsel; Solic Capital
Advisors LLC as financial advisor; and Stretto LLC as claims and
balloting agent and as administrative advisor.

The Office of the U.S. Trustee appointed creditors to serve on the
official committee of unsecured creditors on June 28, 2019.  The
committee tapped Perkins Coie, LLP as its legal counsel.


COMCAR INDUSTRIES: Wins December 14 Plan Exclusivity Extension
--------------------------------------------------------------
At the behest of Comcar Industries, Inc. and its affiliates, Judge
Laurie Selber Silverstein of the U.S. Bankruptcy Court for the
District of Delaware extended the Debtors' exclusivity period to
file a Chapter 11 plan by 90 days through and including December
14, 2020.

With the granted extension, the Debtors protected their exclusive
ability to propose a chapter 11 plan and allow the liquidation
process to continue unhindered by competing plans and external
factors out of the Debtors' control, such as delays related to the
COVID-19 pandemic.

Since the Petition Date, the Debtors have made substantial and
meaningful progress under chapter 11.  To date, the Debtors'
efforts have been concentrated on consummating sales of the
Debtors' assets:

     -- On June 25, 2020, the Court authorized the sales of
substantially all of the assets of Debtor CT Transportation, LLC,
Debtor CTL Transportation, LLC, and Debtor MCT Transportation,
LLC;

     -- On September 2, 2020, the Court authorized the sales of
substantially all of the assets of Debtor Commercial Truck and
Trailer Sales, LLC; and

     -- On September 4, 2020, the Court authorized the sales of
substantially all of the assets of Debtor Debtor CCC
Transportation, LLC.

In addition to consummating sales of substantially all of the
Debtors' assets through the Asset Sales -- and bringing into the
Debtors' estates substantially more value than anticipated at the
outset of these Chapter 11 Cases -- the Debtors have also resolved
disputes through a settlement that threatened to derail these cases
and erode the estates' resources through protracted litigation.

Through these efforts, the Debtors have also preserved the
employment of more than 200 former employees and these achievements
were the result of the efforts of the Debtors and their
professionals in cooperation with their key stakeholders, including
their prepetition and post-petition lenders and the Official
Committee of unsecured creditors, toward the goal of confirming and
implementing a consensual plan of liquidation in the most
cost-efficient manner possible.

                    About Comcar Industries

Comcar Industries -- https://comcar.com/ -- is a transportation and
logistics company headquartered in Auburndale, Fla., with more than
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 Honorable 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.


COMPASS MINERALS: S&P Alters Outlook to Stable, Affirms 'BB-' ICR
-----------------------------------------------------------------
S&P Global Ratings revised its outlook on U.S.–based salt and
specialty fertilizer producer Compass Minerals International Inc.
to stable from negative and affirmed its 'BB-' issuer credit
rating.

S&P said, "The stable outlook reflects our view that the essential
nature of Compass' products along with operational improvements
will help the company maintain credit metrics in line with our
base-case scenario over the next 12 months."

"We expect debt leverage to remain about 4.0x-4.5x supported by
lower costs. We expect EBITDA margins of about 23% and debt to
EBITDA of 4.0x-4.5x in 2020 compared to 22% and 4.8x, respectively,
in 2019 as steps to lower costs and improve operating performance
continue to benefit earnings and cash flow. With about 64% of the
company's rock salt production occurring at its Goderich mine, we
expect efficiency improvements to benefit Compass' overall cost
profile. In the first half of 2020, production at Goderich
increased 16% compared to 2019, which has allowed the company to
reduce purchases of more-expensive third-party salt, including
imported salt as well as lower unit and maintenance costs. The
company has also gained some market share, including that of
international players using its lower-cost salt, albeit at lower
prices, which we expect to rebound over time assuming a normal
winter seasons. Compass is also working on companywide optimization
efforts focused on increasing production as well as strategic
sourcing, logistics, customer experience, and working capital
improvements."

The company's operating performance and credit metrics are
sensitive to weather-related risks, which its plant and nutrition
segment has failed to alleviate.  Although Compass' highway deicing
salt is somewhat nondiscretionary and demand for its products is
not driven by macroeconomic factors, the company is exposed to
weather-related risks associated with both its plant and nutrition
and salt businesses. The salt business is also highly seasonal.
This underscores the importance of maintaining low operating
leverage during periods of low demand as well as excess capacity
when there are opportunities for spot sales during periods of
spiking demand. Unfortunately, the plant nutrition businesses have
not yet proven to be a material counterweight as these segments are
also subject to weather disruptions and exhibits seasonal sales in
line with annual planting periods. The company's plant nutrition
operations in South America also contend with foreign-exchange
risks. As a result, S&P expects the company's earnings and cash
flows to remain volatile, with a high dependence on weather
conditions and other external factors that are relatively less
stable in nature, which could limit upside potential.

Compass' competitive position is supported by the non-discretionary
nature of its products as well as its scale and scope.   S&P
believes the company's size and scope relative to rated peers,
footprint in multiple countries and lower cost profile help to
offset some of the risks associated with weather-related
challenges. The plant and nutrition business also adds end market,
geographic, and product diversity with uncorrelated products.
Despite concerns that state budgets could be constrained by the
pandemic and the associated recession, trailing-12-month EBITDA
increased 19% compared to the same time period a year ago. This
highlights the non-discretionary nature of Compass' products,
including that of the plant and nutrition segment, which is also
benefiting from improved crop conditions in North America and
Brazil.

S&P said, "The stable outlook reflects our view that the necessity
of Compass' products along with operational improvements will help
the company maintain credit metrics in line with our base-case
scenario over the next 12 months, with debt to EBITDA remaining in
the 4.0x-4.5x range."

S&P could raise its ratings on Compass over the next 12 months if
Compass' optimization plan results in lower operating costs and
credit measures improve such that:

-- S&P expects leverage to be sustained below 3x.
-- EBITDA margins are above 25%.
-- Discretionary cash flow to debt rise above 5%.

S&P could lower its ratings on Compass over the next 12 months if:

-- Debt to EBITDA increases above 5x, which could result from
demand for its products declining compared to S&P's expectation for
improvements; or if progress on its Goderich mine stalls, resulting
in higher than expected costs.

-- Negative discretionary cash flows.


COMSTOCK MINING: Monetizes Preferred Stock & Reduces Debt by $2M
----------------------------------------------------------------
Comstock Mining Inc. has received over $4 million in cash proceeds
from the monetization of preferred stock.  Under the terms of the
Lucerne mine sale with Tonogold, Comstock Mining received $6.1
million in Convertible Preferred Stock issued by Tonogold.  Through
9/30/2020, the Company had converted $3.920 million CPS in exchange
for 21,777,778 common shares of Tonogold. On Oct. 2, 2020, Tonogold
redeemed the remaining $2.18 million CPS for cash proceeds of
$2.616 million, representing 120% of the CPS face value.  This
transaction allowed the Company to reduce its promissory notes,
from $4.475 million to $2.5 million, reducing interest expense.

The Company has also realized approximately $1.386 million in cash
proceeds from the sale of 3,587,833 common shares at an average
price of approximately $0.40 per share and continues to hold
18,189,945 common shares with a current estimated value of $7.1
million and holds a $4.475 million 12% Convertible Secured Note
Receivable, due Sept. 20, 2021.  The Company retains 1.5% NSR
royalties on all of Tonogold's exploration and development
properties and a 25% portion of a 4% NSR of certain Comstock Lode
mineral claims.

Mr. De Gasperis, executive chairman and CEO stated, "Our liquidity
has been strengthened and our debt obligations are within striking
distance of being fully paid off as we work directly and
collaboratively with Tonogold and focus on our own precious-metal
developments in the both the Dayton resource and the Spring Valley
exploration target areas as well as the commercialization of MCU's
mercury remediation technology and systems."

                     About Comstock Mining

Comstock Mining Inc. -- http://www.comstockmining.com/-- is a
Nevada-based, gold and silver mining company with extensive,
contiguous property in the Comstock District.  The Company began
acquiring properties in the Comstock District in 2003.  Since then,
the Company has consolidated a significant portion of the Comstock
District, amassed the single largest known repository of historical
and current geological data on the Comstock region, secured
permits, built an infrastructure and completed its first phase of
production.  The Company continues evaluating and acquiring
properties inside and outside the district expanding its footprint
and exploring all of its existing and prospective opportunities for
further exploration, development and mining.

Comstock Mining recorded a net loss of $3.81 million for the year
ended Dec. 31, 2019, compared to a net loss of $9.48 million for
the year ended Dec. 31, 2018.  As of June 30, 2020, the Company had
$44.40 million in total assets, $16.76 million in total
liabilities, and $27.63 million in total equity.

Deloitte & Touche LLP, in Salt Lake City, Utah, the Company's
auditor since 2011, issued a "going concern" qualification in its
report dated March 30, 2020 citing that the Company has incurred
recurring losses and cash outflows from operations, has an
accumulated deficit and has debt maturing within 12 months from the
issuance date of the financial statements that raise substantial
doubt about its ability to continue as a going concern.


COVENANT COMMUNITIES, WI: S&P Cuts 2018B Bond Rating to 'BB+ (sf)'
------------------------------------------------------------------
S&P Global Ratings lowered its ratings on Wisconsin Health and
Educational Facilities Authority's series 2018A senior-living bonds
and second-tier series 2018B senior-living revenue bonds, issued
for Covenant Communities Inc., by one notch each, to 'BBB (sf)'
from 'BBB+ (sf)', and 'BB+ (sf)' from 'BBB- (sf)', respectively.
The outlook is stable.

The bonds were issued for Covenant's portfolio acquisition project.
The authority also has third-tier series 2018C senior-living
revenue bonds outstanding, which S&P does not rate. The ratings are
no longer under criteria observation.

The downgrade is due to the application of its "Methodology for
Rating U.S. Public Finance Rental Housing Bonds," published April
15, 2020.

S&P's ratings reflect the following:

-- Coverage and liquidity that S&P considers weak for the senior
bonds and very weak for subordinate bonds;

-- Adequate management and governance assessment of the project
owner and associated parties; and

-- Adequate market position.

S&P said, "We believe environmental and governance factors are in
line with the sector standard. However, the ongoing pandemic does
present a social risk particular to the residents that the
properties serve. Meanwhile, we believe ownership, in concert with
the property management team, has demonstrated an ability to
maintain occupancy during this period, along with strict and
consistent protocols across the properties, governed by its formal
"COVID-19 Business Continuity, Operations & Communications"
document."

"The stable outlook reflects our expectation that despite a dip in
occupancy since the beginning of the COVID-19 pandemic, cash
available for debt service will remain within the range achieved in
2019, in terms of debt service coverage ratios."

"We could lower the ratings if occupancy declines sharply, leading
to financial deterioration in terms of debt service coverage," said
S&P Global Ratings credit analyst Adam Torres. We could also a take
negative rating action should the properties' physical condition
diminish, or should the ownership team or property manager somehow
demonstrate a change in expertise, in our opinion."

Given S&P's assessment of coverage and liquidity, coupled with the
challenges associated with the ongoing COVID-19 pandemic, it is
unlikely to raise the rating in the near term.


CPI CARD: Compensation Committee OKs RSU and Retention Agreements
-----------------------------------------------------------------
CPI Card Group Inc. previously adopted the CPI Card Group Inc.
Omnibus Incentive Plan, as amended and restated, effective Sept.
25, 2017 and has also entered into retention awards in the most
recent two years in lieu of making awards under the Plan. The
Compensation Committee of the Company's Board of Directors, in
consultation with its external compensation consultant, Willis
Towers Watson, has decided that, given the effectiveness of the
retention awards that have retained and motivated the leadership
team who has continued to improve the Company's performance over
the last twelve months and a desire to create further alignment of
executive compensation with shareholder value creation, along with
creating continued incentives to drive excellence in individual
performance and attracting and retaining key employees, it is in
the Company's best interest to (i) award Restricted Stock Units (as
defined in the Plan) under the Plan pursuant to Restricted Stock
Unit Agreements, and (ii) enter into additional Retention
Agreements, each with the Company's named executive officers and
other key employees.

Accordingly, effective Oct. 2, 2020, the Compensation Committee
approved (i) the RSU Agreements; and (ii) the Retention
Agreements.

RSU Agreements

On Oct. 2, 2020, the Compensation Committee approved the RSU
Agreements with the Company's NEOs and other key employees,
pursuant to which the Company agreed to grant to each such
Participant Restricted Stock Units, which shall vest into shares of
the Company's common stock on the second anniversary of the grant
date.  The other terms of the RSU Agreements are substantially
similar to those awards granted pursuant to the previously
disclosed forms of award agreements for executive officers under
the Plan.

The following awards of Restricted Stock Units are granted to the
Company's principal executive officer, principal financial officer
and NEOs under the RSU Agreements: (i) 54,757 Restricted Stock
Units to Mr. Scheirman, chief executive officer; (ii) 13,126
Restricted Stock Units to Mr. Lowe, chief financial officer; (iii)
14,870 Restricted Stock Units to Mr. Dubin, senior vice president
and general manager, Personalization, Prepaid and Instant Issuance;
and (iv) 13,796 Restricted Stock Units to Mr. DiMaggio, senior vice
president and general manager, Secure Card.

Retention Agreements

On Oct. 2, 2020, the Company also entered into Retention Agreements
with the Company's NEOs and other key employees, each of which
becomes effective upon the recipient's execution of their Retention
Agreement.  Under the terms of each Retention Agreement, each
recipient is entitled to a cash retention payment of a specified
amount.  The Retention Payments will be paid to the Company's
executive officers as soon as administratively feasible following
the effective dates of the respective Retention Agreements.

Under the Retention Agreements, in the event a recipient of a
Retention Payment voluntarily terminates his or her employment
without Good Reason, or the Company terminates such recipient's
employment for Cause, in either case, before March 15, 2022, then
such recipient will be required to promptly repay to the Company,
in any event no later than 10 days following such termination, an
amount equal to the Retention Payment.  A recipient will not be
required to repay a Retention Payment in the event of termination
of employment due to death or disability, by the Company without
Cause or by the recipient for Good Reason prior to the Retention
Date.

The Retention Payments to the Company's principal executive
officer, principal financial officer and NEOs under the Retention
Agreements will be, respectively, $562,215 for Mr. Scheirman;
$134,773 for Mr. Lowe; $152,676 for Mr. Dubin; and $141,652 for Mr.
DiMaggio.

                        About CPI Card

CPI Card Group -- http://www.cpicardgroup.com/-- is a payment
technology company and provider of credit, debit and prepaid
solutions delivered physically, digitally and on-demand. CPI helps
its customers foster connections and build their brands through
innovative and reliable solutions, including financial payment
cards, personalization and fulfillment, and Software-as-a-Service
(SaaS) instant issuance. CPI has more than 20 years of experience
in the payments market and is a trusted partner to financial
institutions and payments services providers.  Serving customers
from locations throughout the United States, CPI has a large
network of high security facilities, each of which is registered as
PCI Card compliant by one or more of the payment brands: Visa,
Mastercard, American Express, and Discover.

CPI Card reported a net loss of $4.45 million for the year ended
Dec. 31, 2019, compared to a net loss of $37.46 million for the
year ended Dec. 31, 2018.  As of June 30, 2020, the Company had
$246.50 million in total assets, $396.4 million in total
liabilities, and a total stockholders' deficit of $150.0 million.

                          *    *    *

As reported by the TCR on April 17, 2020, S&P Global Ratings
affirmed its 'CCC+' issuer credit rating on CPI Card Group Inc.
"The affirmation reflects our view that CPI's capital structure
remains unsustainable given its high debt leverage, limited cash
flow generation, and the need to substantially improve its
operating performance to repay its 2022 debt maturities," S&P
said.

In March 2020, Moody's Investors Service affirmed CPI Card Group
Inc.'s Caa1 Corporate Family Rating.  The ratings affirmation on
the CFR, PDR and existing term loan rating reflects Moody's
expectation of volume growth in the company's core secure card
business as the replacement cycle of initially issued EMV card
continues, as well as modest conversion to dual interface cards as
they become a larger part of the overall payment card market.


CWGS ENTERPRISES: S&P Upgrades ICR to 'B'; Outlook Positive
-----------------------------------------------------------
S&P Global Ratings raised the issuer credit rating on CWGS
Enterprises LLC to 'B' from 'B-' and the issue-level rating on the
company's senior secured revolving credit facility and term loan to
'B+' from 'B'. S&P removed all the ratings from CreditWatch where
they were placed with positive implications on August 7, 2020.

The positive outlook reflects strong anticipated RV demand through
at least early 2021, which may enable CWGS to generate a
significant level of sustained EBITDA over the next year that
positions it to reduce leverage sufficiently to warrant another
upgrade.

S&P said, "The upgrade to 'B' reflects our lower leverage forecast,
driven by strong anticipated demand for RVs over at least the next
few quarters, partly as a result of the pandemic. The RV industry
has experienced rising demand because consumers perceive RVs as a
safe and attractive product compared to other leisure and travel
options during the COVID-19 pandemic. This perception has resulted
in robust revenue and EBITDA generation at CWGS in the second
quarter of this year and the likelihood that this could continue
into early 2021. Our updated forecast for total lease-adjusted debt
to EBITDA is high-3x in 2020, potentially improving to mid-3x in
2021 if RV demand is at least flat in 2021. As a result of
anticipated robust EBITDA generation in 2020, CWGS's interest
coverage could be above 4x, and liquidity could continue to improve
meaningfully."

"Our previous base case was adjusted debt to EBITDA of 7x-8.5x in
2020, which did not incorporate the impact of the current surge in
RV demand. We had previously assumed at the inception of the
pandemic when manufacturing was shuttered for a period of time that
a steep economic recession beginning in the second-quarter 2020
would materially impair RV demand, similar to previous recessions.
As a result, we had lowered our EBITDA forecast at that time to
reflect these risks. In the spring and summer months of this year,
we observed a surprisingly strong trajectory of RV demand in this
recession compared to prior recessions due to a consumer response
to the pandemic and desire for outdoor travel. As a result, we have
upwardly revised our EBITDA forecast."

Multiple participants in the RV industry have commented on a
substantial rise in product interest. According to the RV Industry
Association, a trade organization that represents OEMs, industry
shipments could increase by 4.5% in 2020 and potentially by 19.5%
in 2021, which is a reflection of significant demand for inventory
by dealers. Publicly traded OEMs in the RV industry have also
reported significant year-over-year increases in backlog,
confirming the demand by dealers and consumers. While backlogs are
an imperfect indicator and subject to cancellation by dealers at
any time without penalty, their increases provide confidence in our
2020 and 2021 assumptions. The inventory orders reflect dealers'
gauge on consumer sentiment and the perception that RV travel
provides a safe value proposition while competing air travel
options are not attractive until the second half of 2021, when a
vaccine could be available and widely disseminated. S&P also
believes the substantial demand for inventory might not be
satisfied by existing manufacturing capacity until well into 2021,
based on commentary by OEMs about current backlog.

S&P said, "Our updated base case for anticipated cash flow from
operations would provide CWGS with the capacity to make
investments, pay dividends, and possibly repay debt if other
allocation priorities are unavailable. We forecast substantial
operating cash flow in 2020, supported by strong sales and
potential working-capital benefits from a net reduction of
inventory if retail sales are higher than OEM shipments this year.
The company has indicated that its covenant measure of net leverage
could be less than 2x in 2020, suggesting it could have sizable
cash balances by year-end."

In addition, store acquisitions, development, and other investments
could drive EBITDA growth over time beyond same-store sales,
assuming consumer demand for RVs is sustained. CWGS recently
announced a multi-faceted plan to grow its store count by eight to
10 locations per year, multiply its service offerings for Good Sam
members, and expand into adjacent business extensions including the
creation of a peer-to-peer RV-sharing marketplace, collision
repairs, and mobile vehicle servicing. S&P said, "Contrary to
recent store count additions from the Gander Outdoor lease
acquisitions, it is our understanding that CWGS's new plan seeks to
add store count that has more familiar formats, sizes, and
investment requirements. We believe these initiatives could grow
EBITDA in the form of store count additions in the near term and
revenue synergies over time through investments and joint
ventures." External and investment-related EBITDA growth could
reduce leverage if it is sustainable and spending is at a moderate
EBITDA multiple.

An offsetting factor is that these initiatives carry implementation
risks. Ground-up constructions take 12-18 months to reach
maturation, at which point the current retail surge in demand for
RVs might have moderated, possibly significantly. In addition, the
anticipated RV-sharing platform might not translate into earnings
for years or at all due to the risky nature of technology
investments.

Key risks are the sustainability of retail demand, uncertainty
regarding the economy, and the potential for a mismatch between
shipments and retail sales.

S&P said, "Using our base-case forecast, we believe revenue in 2022
could continue to grow at low-single-digit percent. However, we
also recognize the high potential for RV demand to soften following
a spike in 2020 and 2021 as customers return to other forms of
travel. Accordingly, we performed a sensitivity analysis for 2022
that showed a decline of total revenue in the 5%-10% range, which
could result in our measure of adjusted leverage to rise toward 5x.
Such a scenario would cause us to revise our outlook to stable from
positive."

S&P believes the currently strong RV demand is being supported by a
confluence of factors that could normalize to a long-term trend
rate of growth over time. The recent RV demand at the margin might
have been supported by stimulus payments in 2020 that added to the
discretionary income of consumers who did not otherwise lose their
jobs. The non-extension of such stimulus payments could cool off
some demand. In addition, continued high unemployment rates, a
longer-than-anticipated economic recovery, and the related wealth
effects of a volatile stock market could dampen demand for
discretionary items like RVs.

Another source of potential volatility is the RV industry's highly
competitive dynamic, which in 2019 caused wholesale shipments to
outpace retail demand and contributed to an industry-wide inventory
correction. The result was surplus inventory at the dealership
level, which led to discounting activity and temporarily pressured
margins. In the current environment, OEMs may compete for market
share when consumer demand is perceived to be strong and temporary,
which could cause inadvertent overproduction and excess inventory
in the channel. Such dynamics could introduce variability in
revenue growth, EBITDA margin, and working-capital uses of cash if
the RV industry does not efficiently produce to align with retail
demand. S&P believes a potential indicator of such risk is if OEMs
expand manufacturing capacity by constructing new factories.

Additional business considerations:

-- S&P's assessment of CWGS's business risk reflects the company's
reliance on sometimes volatile consumer discretionary spending,
vulnerability to economic cyclicality, and the potential for
declines in consumer credit availability to hurt demand for RVs.

-- The company's fairly high fixed-cost base due to leases related
to both its retail and dealership locations, its low adjusted
EBITDA margin compared with other rated leisure companies, and its
supplier concentration.

-- The company's membership services provide it with a recurring
revenue stream and have relatively high retention rates, while its
RV parts and services business helps reduce EBITDA volatility.

The positive outlook reflects strong anticipated RV demand through
at least early 2021, which could enable CWGS to generate a
significant level of sustained EBITDA over the next year that
positions it to reduce leverage sufficiently to warrant another
upgrade.

S&P said, "We could revise the outlook to stable if we believe
current RV demand will not be sustained beyond 2021. Specifically,
such an action could occur if demand softens in 2022 and leverage
rises toward the 5x area. While currently unlikely, we could lower
our rating on CWGS in the longer term if adjusted leverage rises
and is sustained above 6.5x or adjusted EBITDA interest coverage is
sustained below 2x."

"We could raise the rating on CWGS if we believe adjusted debt to
EBITDA could be sustained below 5x with a cushion to absorb
volatility over an economic cycle. Such a scenario would be
dependent on our confidence that the current RV demand is
sufficiently sustainable to enable CWGS to manage costs and
maintain leverage below 5x."


DEAN FOODS: DFA Ordered to Divest De Pere Location
--------------------------------------------------
Ashley Kaster, FOX 11 News reports that a judge approved the
proposed final judgment against Dairy Farmers of America this
second week of October 2020.

The final judgement requires that DFA divest two plants, one in De
Pere and another in Harvard, Illinois, to a buyer within 30 days.

DFA is also required to divest the intellectual property associated
with the De Pere plant, including the exclusive right to using the
"Dean's" name in Wisconsin, Illinois, Indiana, and the Upper
Peninsula of Michigan, and licenses for the "TruMoo" and
"DairyPure" brand names nationwide.

Attorney General Josh Kaul says the proposed divestiture will save
jobs at those facilities.

In early April 2020, a U.S. bankruptcy court in Texas approved the
sale of Dean Foods plants to DFA for $433 million. That decision
came five months after Dean, at the time the largest dairy
processor in the country, filed for Chapter 11 bankruptcy
protection.

The U.S. Department of Justice will approve the buyer of the De
Pere and Harvard plants.

                  About Dairy Farmers of America

Dairy Farmers of America, Inc., headquartered in Kansas City,
Kansas, is the leading US national milk marketing cooperative. It
is owned by and serves more than 13,000 dairy farmer members
representing more than 7,500 dairy farms in 48 states. DFA reported
revenue of approximately $16 billion for the twelve months ended
December 31, 2019 and annual revenue pro forma for the Dean
acquisition is approximately $20 billion. The cooperative markets
about 30% of the total milk volume in the United States.

                         About Dean Foods

Southern Foods Group, LLC, d/b/a Dean Foods, is a food and beverage
company and a processor and direct-to-store distributor of fresh
fluid milk and other dairy and dairy case products in the United
States.

The Company and its 40+ affiliates filed for bankruptcy protection
on Nov. 12, 2019 (Bankr. S.D. Tex. Lead Case No. 19-36313).  The
petitions were signed by Gary Rahlfs, senior vice president and
chief financial officer.  Dean Foods was estimated to have assets
and liabilities of $1 billion to $10 billion as of the bankruptcy
filing.

Judge David Jones oversees the cases.

David Polk & Wardell LLP serves as general bankruptcy counsel to
the Debtors, and Norton Rose Fulbright US LLP serves as local
counsel.  Alvarez Marsal is financial advisor to the Debtors,
Evercore Group LLC is investment banker, and Epiq Corporate
Restructuring LLC is notice and claims agent.


DESTINATION HOPE: Hires Ms. Goodman of GGG Partners as CRO
----------------------------------------------------------
Destination Hope, Inc., seeks authority from the U.S. Bankruptcy
Court for the Southern District of Florida to employ Katie Goodman
of GGG Partners, LLC, as chief restructuring officer to the
Debtor.

Destination Hope requires GGG Partners to:

   (a) evaluate and validate cash flows, initially the 4 week and
       13-week periods;

   (b) evaluate and validate revenue cycle management from
       initial billing through collections to determine cash flow
       and collectability of accounts receivable;

   (c) explore strategic alternatives to maximize value for all
       creditors that include, but are not limited to, a sale of
       the Debtor or liquidation of some or all of the business
       assets;

   (d) evaluate the most appropriate course of action for the
       Debtor;

   (e) work to effectuate the course of action in conjunction
       with the Debtor's counsel;

   (f) work with the Debtor's personnel to ensure that all
       chapter 11 related reporting and requirements are filed in
       a timely manner;

   (g) work with the Debtor and counsel to seek approval for the
       most appropriate plan;

   (h) act as Debtor's CRO.

GGG Partners will be paid at these hourly rates:

     Managing Partners           $350
     Partners                $300 to $325

GGG Partners will be paid a retainer in the amount of $20,000.

GGG Partners will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Katie Goodman, managing partner of GGG Partners, LLC, assured the
Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and does not
represent any interest adverse to the Debtor and its estates.

GGG Partners can be reached at:

     Katie Goodman
     GGG PARTNERS, LLC
     3155 Roswell Rd NE, Suite 120
     Atlanta, GA 30305
     Tel: (404) 256-0003
     Fax: (404) 256-4555

                    About Destination Hope

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 Aug. 28,
2020.  The petition was signed by Benjamin Brafman, the company's
president.  At the time of the filing, the 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 COACH: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Two affiliates that concurrently filed voluntary petitions for
relief under Chapter 11 of the Bankruptcy Code:

    Debtor                                    Case No.
    ------                                    --------
    Diamond Coach Leasing, LLC                20-04545
    533 Hickory Hills Boulevard
    Whites Creek, TN 37189

    Diamond Coach Interiors, LLC              20-04546
    608 North Ohio Street
    Toledo, IL 62468  

Business Description: Headquartered in Tennessee, the Debtors
                      provide luxury Prevost ententainer coaches.

Chapter 11 Petition Date: October 9, 2020

Court: United States Bankruptcy Court
       Middle District of Tennessee

Judge: Hon. Randal S. Mashburn (20-04545)
       Hon. Charles M. Walker (20-04546)

Debtors' Counsel: Griffin S. Dunham, Esq.
                  DUNHAM HILDEBRAND, PLLC
                  2416 21st Ave S, Ste 303
                  Nashville, TX 37212
                  Tel: 615-933-5850
                  E-mail: griffin@dhnashville.com

Diamond Coach Leasing's
Total Assets: $704,468

Diamond Coach Leasing's
Total Liabilities: $43,064,325

Diamond Coach Interiors'
Total Assets: $2,929

Diamond Coach Interiors'
Total Liabilities: $38,183,685

The petitions were signed by Kylee Ervin, president.

Copies of the petitions containing, among other items, lists of the
Debtors' 20 largest unsecured creditors are available for free  at
PacerMonitor.com at:

https://www.pacermonitor.com/view/M3R2LCQ/Diamond_Coach_Leasing_LLC__tnmbke-20-04545__0001.0.pdf?mcid=tGE4TAMA

https://www.pacermonitor.com/view/N2CUM5A/Diamond_Coach_Interiors_LLC__tnmbke-20-04546__0001.0.pdf?mcid=tGE4TAMA


DIOCESE OF ROCKVILLE CENTRE: Legal-Bay Touts Loans for Settlements
------------------------------------------------------------------
Legal-Bay, The Pre Settlement Funding Company, announces the
Chapter 11 bankruptcy filing of The Diocese of Rockville Centre in
Long Island -- a suburb of New York City -- in response to a
torrent of lawsuits brought forth by numerous victims. The
bankruptcy declaration is the U.S.'s largest ever filed by a Roman
Catholic church, and the 3rd in New York State after Buffalo's and
Rochester's filings.

The state of New York recently suspended their statute of
limitations, giving victims an extended period to file lawsuits
over sexual abuse by priests.

Chris Janish, CEO of Legal-Bay, commented, "Legal-Bay has always
been an advocate for plaintiffs in clergy sexual abuse cases, and
has continued to fund some of the litigations even while dioceses
declare bankruptcy.  The current filing follows a strategy now
being employed by many organizations—including the Boy Scouts of
America—to thwart paying damages.  It remains to be seen if this
will ultimately be beneficial or harmful to the victims who have
suffered."

If you have been or know a victim of any type of sexual assault or
harassment and need an immediate cash advance, please visit
Legal-Bay HERE or call toll-free at 877.571.0405.

Aside from sexual abuse loans for settlements, Legal-Bay also
provides settlement loan funding for all types of cases including
personal injury, car accident, medical malpractice, judgment on
appeal, commercial litigation, and more. Their loans for lawsuits
have helped numerous plaintiffs through many a financial crisis.

Legal-Bay's loan settlement programs provide immediate cash in
advance of a plaintiff's anticipated monetary award. The
non-recourse law suit "loans" —sometimes referred to as loans for
lawsuit or loans on settlement—are risk-free, as the money
doesn't need to be repaid should the recipient lose their case.
Therefore, the lawsuit loan isn't really a loan, but rather a cash
advance.

              About the Diocese of Rockville Centre

The Roman Catholic Diocese of Rockville Centre, New York is the
seat of the Roman Catholic Church on Long Island.  The Diocese has
been under the leadership of Bishop John O. Barres since February
2017.  The State of New York established the Diocese as a religious
corporation in 1958.  The Diocese is one of eight Catholic dioceses
in New York, including the Archdiocese of New York.  The Diocese's
total Catholic population is approximately 1.4 million, roughly
half of Long Island's total population of 3.0 million.  The Diocese
is the eighth largest diocese in the United States when measured by
the number of baptized catholics.

The Roman Catholic Diocese of Rockville Centre, New York, filed a
Chapter 11 petition (Bankr. S.D.N.Y. Case No. 20-12345) on Sept.
30, 2020.

The Diocese was estimated to have $100 million to $500 million in
assets and liabilities as of the filing.

The Hon. Shelley C. Chapman is the case judge.

The Diocese tapped JONES DAY as counsel; ALVAREZ & MARSAL NORTH
AMERICA, LLC, as restructuring advisor; and SITRICK AND COMPANY,
INC. as communications consultant.  EPIQ CORPORATE RESTRUCTURING,
LLC, is the claims agent.


DOC'S CHOICE: Seeks to Hire Herron Hill Law as Attorney
-------------------------------------------------------
Doc's Choice, LLC, seeks authority from the U.S. Bankruptcy Court
for the Middle District of Florida to employ Herron Hill Law Group,
PLLC, as attorney to the Debtor.

Doc's Choice requires Herron Hill Law to:

   a. advise and counsel the Debtor in possession concerning the
      operation of its business in compliance with the Chapter 11
      and orders of the Bankruptcy Court;

   b. defend any causes of action on behalf of the debtor-in-
      possession;

   c. prepare all necessary applications, motions, reports, and
      other legal papers in the Chapter 11 case;

   d. assist in the formulation of a plan of reorganization and
      preparation of a disclosure statement; and

   e. provide all services of a legal nature in the field of
      bankruptcy law.

Herron Hill Law will be paid based upon its normal and usual hourly
billing rates. The firm will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Kenneth D. Herron, Jr., partner of Herron Hill Law Group, PLLC,
assured the Court that the firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code and does
not represent any interest adverse to the Debtor and its estates.

Herron Hill Law can be reached at:

     Kenneth D. Herron, Jr., Esq.
     HERRON HILL LAW GROUP, PLLC
     135 W Central Blvd, Suite 650
     Orlando, FL 32801
     Tel: (407) 648-0058

                      About Doc's Choice

Doc's Choice, LLC, filed a Chapter 11 bankruptcy petition (Bankr.
M.D. Fla. Case No. 6:20-bk-04821) on Aug. 26, 2020.  The Debtor
hired Herron Hill Law Group, PLLC, as counsel.


EAL LLC: Seeks to Hire Mullin Hoard & Brown as Counsel
------------------------------------------------------
EAL, LLC, seeks authority from the United States Bankruptcy Court
for the Northern District of Texas to hire Mullin Hoard & Brown,
L.L.P., as its counsel.

EAL, LLC requires Mullin Hoard to:

     a. prepare all motions, notices, orders and legal papers
necessary to comply with the requisites of the U.S. Bankruptcy Code
and Bankruptcy Rules;

     b. counsel with the Debtor regarding preparation of operating
reports, motions for use of cash collateral, and development of a
Chapter 11 plan; and

     c. provide all other legal services ordinarily associated with
a bankruptcy case.

Fees the firm will charge for its services are:

     Partners & Associates       $185 to $450
     Paralegals & Law Clerks      $80 to $155

David Langston, Esq., disclosed in a court filing that his firm has
is a disinterested firm and does not represent or hold any interest
adverse to the Debtor and its estate.

The firm can be reached through:

         David R. Langston, Esq.
         Mullin Hoard & Brown, LLP
         P.O. Box 2585
         Lubbock, TX 79408-2585
         Tel: (806) 765-7491
         Fax: (806) 765-0553
         E-mail: drl@mhba.com

                           About EAL, LLC

EAL, LLC filed for relief under Chapter 11 of the United States
Bankruptcy Code (Bankr. N.D. Tex. Case No. 20-50171) on Sep. 4,
2020. At the time of filing, the Debtor estimated $50,000 in assets
and $1 million to $10 million in liabilities. David R. Langston,
Esq. at MULLION HOARD & BROWN, L.L.P. represents the Debtor as
counsel.


EBONY MEDIA: Consents to Chapter 11 Bankruptcy
----------------------------------------------
Max Reyes of Bloomberg News reports that Ebony magazine's board
said it's negotiating a sale to Bridgeman Sports and Media LLC, and
will consent to involuntary bankruptcy petitions filed against it
as part of that process, according to court filings Wednesday,
September 2, 2020.

In a signed document dated Aug. 18, the board of directors outlined
talks between Ebony Media Holdings LLC and its subsidiary Ebony
Media Operations LLC and Bridgeman.

Once the letter of intent is finalized, negotiations for the
purchase and sale agreement will begin.  If approved by a judge, a
stipulation and agreed order dated Sept. 2 would provide the
consent of Ebony Media Holdings and Ebony to bankruptcy proceedings
under Chapter 11 of the Bankruptcy Code.

                       About Ebony Media

Ebony Media Holdings LLC is the publisher of Black cultural
magazines Ebony and Jet.

In a pair of involuntary bankruptcy petitions filed July 2020
creditors Parkview Capital Credit Inc., photo studio Plum Studio
and law firm David M. Abner & Associates said Houston-based Ebony
Media Holdings LLC "is generally not paying its debts as they
become due, unless they are the subject of a bona fide dispute as
to liability or amount."

The alleged creditors filed involuntary Chapter 7 petitions against
Ebony Media Operations, LLC, and Ebony Media Holdings LLC (Bankr.
S.D. Tex. Case No. 20-33665 and 20-33667) on July 23, 2020.

The Court on Sept. 3, 2020, entered an order approving a
stipulation signed by the Debtors and the petitioners to an entry
of order for relief in the bankruptcy cases and the conversion of
the cases to cases under Chapter 11 of the Bankruptcy Code.

The Debtors tapped Pendergraft & Simon, LLP as counsel and FTI
Capital Advisors, LLC, as investment banker.


EBONY MEDIA: Headed for Auction With $14M Opening Bid
-----------------------------------------------------
Law360 reports that a Texas bankruptcy judge on Oct. 9, 2020 gave
the bankruptcy owner of magazines Ebony and Jet the go signal to
put itself or auction with a $14 million stalking horse bid.  Under
bid procedures approved by the judge, buyers will have until Dec. 7
to submit initial bids.

                       About Ebony Media

Ebony Media Holdings LLC is the publisher of Black cultural
magazines Ebony and Jet.

In a pair of involuntary bankruptcy petitions filed July 2020
creditors Parkview Capital Credit Inc., photo studio Plum Studio
and law firm David M. Abner & Associates said Houston-based Ebony
Media Holdings LLC "is generally not paying its debts as they
become due, unless they are the subject of a bona fide dispute as
to liability or amount."

The alleged creditors filed involuntary Chapter 7 petitions against
Ebony Media Operations, LLC, and Ebony Media Holdings LLC (Bankr.
S.D. Tex. Case No. 20-33665 and 20-33667) on July 23, 2020.

The Court on Sept. 3, 2020, entered an order approving a
stipulation signed by the Debtors and the petitioners to an entry
of order for relief in the bankruptcy cases and the conversion of
the cases to cases under Chapter 11 of the Bankruptcy Code.

The Debtors tapped Pendergraft & Simon, LLP as counsel and FTI
Capital Advisors, LLC, as investment banker.


FALLS EVENT: Trustee Selling Beaverton Property to Urban for $1.33M
-------------------------------------------------------------------
Michael F. Thomson, the Chapter 11 Trustee of the consolidated
bankruptcy estate of The Falls Event Center, LLC ("TFEC") and
affiliates, asks the U.S. Bankruptcy Court for the District of Utah
to authorize the sale of the real and personal property located in
Beaverton, Oregon, described as a commercial condominium unit
located at 12655 SW Millikan Way, Beaverton, Oregon (which is Unit
1 of The Round Garage Condominium), consisting of approximately
15,255 square feet of commercial space, together with (a) all
improvements and fixtures located therein; (b) all personal
property owned by the Seller with respect thereto; and (c) all
transferrable licenses, utility contracts, plans and
specifications, warranties and other intangible personal property,
rights, easements, privileges and appurtenances related thereto, to
Urban Development Partners - NW for $1.325, pursuant to their
Purchase and Sale Agreement.

As part of his investigation, the Trustee obtained a preliminary
title report from Chicago Title Co.  He retained Jones Lang LaSalle
("JLL") to market and sell the Property pursuant to a Listing
Agreement dated Jan. 17, 2019.  The Listing Agreement provides that
JLL will be paid a commission of up to 6% of the sales price of the
Property with a Cooperating Broker, and 5% without a Cooperating
Broker.  There is not a Cooperating Broker in the proposed sale to
Buyer, so the commission to JLL in the proposed sale is 5%.

JLL began marketing the Property for sale at the Trustee's
direction on the date that the Listing Agreement was executed on
Jan. 17, 2019.  It received several inquiries about the Property
and six offers.  The only agreement reached between the Trustee and
any potential buyer is the Purchase Agreement.

The Trustee was contacted through JLL by the Buyer regarding a
potential purchase of the Property in April, 2020.  He, through JLL
and his counsel, and the Buyer engaged in several months of
arms'-length and good faith negotiations related to the Buyer's
purchase of the Property.  On Sept. 10, 2020, TFEC, The Falls at
Beaverton, OR, LLC, and Related Entities, through Michael F.
Thomson, solely in his capacity as the Chapter 11 Trustee of the
Consolidated Estate, entered into the Purchase Agreement.

While the material terms of the Purchase Agreement should be
reviewed, the Buyer has agreed to pay the Consolidated Estate the
sum of $1.325 million for the Property.  The sale is in an "as is"
condition and the Buyer has until 45 days after it receives written
notice of the Court's approval of the Purchase Agreement to conduct
due diligence.

Based upon his investigation, including the review of the Title
Report obtained in conjunction with the proposed sale, the Trustee
has determined that these financial interests may encumber the
Property:

     (i) Property taxes for years 2017 through 2019 in the total
approximate amount of $139,561;

     (ii) A Deed of Trust dated May 10, 2017, in favor of Malkim
Capital LLC, et. al.,6 in the principal amount of $725,000;  

     (iii) A Trust Deed dated June 23, 2016, to secure an
indebtedness in the amount of $1,824,951 in favor of TFEC; and

     (iv) A mortgage dated October 19, 2016, to secure an
indebtedness in an unknown amount in favor of TFEC.

The Trustee proposes to sell the Property free and clear of
interests, including the Liens and Encumbrances, with the Liens and
Encumbrances or any other valid liens or interests that may be
raised in conjunction with the Motion, if any, attaching to the
proceeds of the sale, after the deduction of the costs of sale,
including JLL's commission, outstanding taxes and assessments, and
any costs that the Consolidated Estate has incurred in relation to
the Property.

As a result of substantive consolidation, the Net Sale Proceeds
will be retained by the Consolidated Estate for the benefit of the
Consolidated Estate.  In the event a dispute arises with respect to
the Liens and Encumbrances, the Trustee will deposit the Net Sale
Proceeds in a segregated account.  Such Net Sale Proceeds will not
be deposited into the Consolidated Estate's general operating
account until such time as the validity, extent and priority of any
liens or interests in the Property are agreed to, or disputes
related thereto, are resolved after notice and hearing.

Finally, the Trustee asks waiver of the 14-day stay set forth in
Bankruptcy Rule 6004(h).

A copy of the APA is available at https://tinyurl.com/y2h8wp7d from
PacerMonitor.com free of charge.

                  About The Falls Event Center

The Falls Event Center LLC sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. D. Utah Case No. 18-25116) on July 11,
2018.  At the time of the filing, the Debtor was estimated to have
assets of $50 million to $100 million and liabilities of $100
million to $500 million.  

Judge R. Kimball Mosier oversees the case.  

Ray Quinney & Nebeker P.C. is the Debtor's legal counsel.  The
Debtor tapped Gil Miller and his firm Rocky Mountain Advisory, LLC,
as restructuring advisors.

On July 27, 2018, the U.S. Trustee appointed an official committee
of unsecured creditors in the case.

In November 2018, Judge R. Kimball Mosier entered an order
appointing Michael F. Thomson as Chapter 11 trustee.  DORSEY &
WHITNEY LLP is the Trustee's counsel.

On April 30, 2019, the Court appointed Jones Lang Lasalle Americas,
Inc., and Jones Lang Lasalle Brokerage, Inc., as real estate broker
for the Trustee.


FALLS EVENT: Trustee Selling TFCR & TFSO Real Properties for $17.5K
-------------------------------------------------------------------
Michael F. Thomson, the Chapter 11 Trustee of The Falls Event
Center, LLC ("TFEC") and affiliates, asks the U.S. Bankruptcy Court
for the District of Utah to authorize his Asset Purchase Agreement
with DeWitt Grant, LLC in connection with the sale of the following
real properties: (i) The Falls at Cutten Road, LLC ("TFCR")'s real
property known as more or less 3.887 Acres, Parcel ID
1312620010001, 13455 Cutten Road, Houston, Harris County, Texas;
and (ii) The Falls at Stone Oak Parkway, LLC ("TFSO")'s real
property known as Parcel IDs 739630 and Parcel ID, located in Bexar
County, Texas, for $17,500.

TFEC, TFCR, TFSO, and the non-debtor entity, The Falls at Cedar
Park, LLC ("TFCP"), as the Borrowers and Golf 6061, LLC, as the
lender, entered into a Loan Agreement and Secured Promissory Note
dated May 31, 2018, evidencing a loan in the principal amount of
$2.64 million with interest accruing thereon at the rate of 14% per
annum.

The Promissory Note is secured by a Deed of Trust from the
Borrowers in favor of Golf against certain real property.  The Golf
DOT was recorded against (a) TFCR's property in Harris County,
Texas on June 7, 2018 and identified by Document Number
RP-2018-252686, (b) TFSO’s property in Bexar County, Texas on
June 6, 2018 and identified by Document Number 20180108741, and (c)
TFCP's Property in Williamson County, Texas on June 12, 2018 and
identified by Document Number 2018050971.  Pursuant to Golf 6061's
Motion for Relief from the Automatic Stay filed with the Court on
Feb. 18, 202, Golf is owed approximately $2,059,080 under the
Promissory Note that is secured by the Properties.  

The Trustee initially determined that the best way to maximize the
value of the Properties was to offer them for sale through private
sales.  He retained Jones Lang LaSalle ("JLL") to serve as his
realtor for the Properties.  JLL has actively marketed the
Properties for sale throughout 2019 and through Aug. 10, 2020.
Because of the decreased interest in the Properties, in July 2020,
the Trustee
determined in an exercise of his business judgment that it was in
the best interest of the Consolidated Estate to sell the TFCR
Property at auction.

The Trustee retained Williams & Williams Marketing Services, Inc.
("W&W"), with Court approval, in July 2020, to serve as his
auctioneer for the TFCR Property.  On Aug. 10, 2020, W&W conducted
an auction of the TFCR Property.  The high bid received at the
Auction was $750,000, which was well below Golf's assertion in the
Motion for Relief that the TFCR Property is worth $1.02 million.

As of Aug. 10, 2020, Golf was owed approximately $2.123 million.
Even if Golf were paid $750,000 from the auction of the TFCR
Property, Golf would still be owed approximately $1.373 million.
The Trustee has consulted JLL and W&W concerning the projected sale
price for the TFSO Property.  Based on the information provided by
JLL and W&W, the Consolidated Estate will not be able to sell the
TFSO Property at a price that would provide net sale proceeds to
the Consolidated Estate.

After the Auction, the Trustee received an offer from the Buyer to
purchase the Properties.  The Trustee and the Buyer thereafter
negotiated the terms of the APA, pursuant to which the Seller (i.e.
the Trustee, solely in his capacity as the chapter 11 trustee of
TFEC) will sell the Properties to the Buyer for $17,500 pursuant to
the terms and conditions specified in the APA.  The Buyer will also
pay all closing costs associated with the sale of the Properties.

The Trustee believes that the only valid liens against the
Properties are the lien held by Golf and certain outstanding real
property taxes owing on the Properties.  He proposes to the sell
the Properties subject to (a) the lien held by Golf and (b) certain
outstanding real property taxes.  He will be responsible for the
payment of the current year's Ad Valorem taxes.  Otherwise, the
sale of the Properties will be made free and clear of all other
interests, except that any other valid liens, encumbrances, or
interests that are raised in conjunction with the Motion, if any,
will attach to the net proceeds of the sale.  Golf has waived its
rights to the sale proceeds of $17,500.

Finally, the Trustee asks waiver of the 14-day stay set forth in
Bankruptcy Rule 6004(h).

A copy of the APA is available at https://tinyurl.com/y5dak3z3 from
PacerMonitor.com free of charge.

                  About The Falls Event Center

The Falls Event Center LLC sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. D. Utah Case No. 18-25116) on July 11,
2018.  At the time of the filing, the Debtor was estimated to have
assets of $50 million to $100 million and liabilities of $100
million to $500 million.  

Judge R. Kimball Mosier oversees the case.  

Ray Quinney & Nebeker P.C. is the Debtor's legal counsel.  The
Debtor tapped Gil Miller and his firm Rocky Mountain Advisory, LLC,
as restructuring advisors.

On July 27, 2018, the U.S. Trustee appointed an official committee
of unsecured creditors in the case.

In November 2018, Judge R. Kimball Mosier entered an order
appointing Michael F. Thomson as Chapter 11 trustee.  DORSEY &
WHITNEY LLP is the Trustee's counsel.

On April 30, 2019, the Court appointed Jones Lang Lasalle Americas,
Inc., and Jones Lang Lasalle Brokerage, Inc., as Real Estate Broker
for the Trustee.


FB BR HOLDINGS: Fitch Affirms B- LongTerm IDR, Outlook Negative
---------------------------------------------------------------
Fitch Ratings affirmed FR BR Holdings, L.L.C.'s (FR BR) Long-Term
Issuer Default Rating (IDR) of 'B-'. Fitch also affirmed the rating
for FR BR's $498 million senior secured Term Loan B due 2023 at
'B-'/'RR4'. The Rating Outlook is Negative.

The ratings reflect the structural subordination of FR BR's term
loan to Blue Racer's $1.35 billion secured revolver and term loans.
Concerns also include cash flow concentration derived solely from
its interest in Blue Racer Midstream, LLC (B+/Negative), a
midstream operator in the Appalachian Basin that is subject to
volume risk and limited by the size and scale of its operations.

The Negative Outlook reflects the uncertainty regarding the
dividend and reinvestment policy by the board. In the past, the
sponsors have reinvested dividends on an ad hoc basis and in 2020
funded a reserve for growth capital to manage leverage at Blue
Racer. Fitch believes the distribution level may be pressured as
Blue Racer faces significant maturities in the near to intermediate
term (77% of its debt matures by October 2022) while managing
capital spending. Resolution of the Negative Outlook is tied to the
implementation of a dividend policy that, in Fitch's opinion,
preserves a reasonable level of dividends to support FR BR's note
while addressing the needs at Blue Racer.

KEY RATING DRIVERS

Significant Structural Subordination: The primary rating concern
for FR BR is that dividends from Blue Racer are FR BR's sole source
of cash flow with no diversity in the revenue stream. FR BR's term
loan is effectively subordinate to the operating and cash flow
needs at Blue Racer, as well as any borrowings on Blue Racer's $1
billion revolving credit facility and $1.0 billion senior unsecured
notes.

Uncertain Dividend Policy: Blue Racer is required to pay out all of
its available cash for distributions as distributions, with its
owners requiring unanimous consent to stop any dividend payments.
This provides some assurance that FR BR will continue to receive
dividends. Blue Racer's owners, unlike most midstream companies,
reinvested their dividends on an ad hoc basis into Blue Racer in
2019-2Q2020 to support operations and help lower leverage while
pursuing growth capital spending. Continued sponsor support, and
specifically a clearly defined dividend reinvestment policy, is
needed, in Fitch's opinion, to reduce some volatility in
distributions as Blue Racer approaches its large maturity wall over
the next 17 months. Fitch believes FR BR's distributions may be
pressured as the sponsor's soon-to-be-announced dividend policy
looks to provide Blue Racer additional support in the form of
ongoing dividend reinvestment.

Cash Flow Concentration: Fitch's ratings are reflective of the
credit quality of the cash flow stream from Blue Racer, which is an
equity distribution supported by revenue and cash flow from small
'B' to 'BB' rated counterparties. Given the economic headwinds and
reduced producer capital investment and drilling activity, Fitch
believes a return to volume growth will be delayed until late 2021
into 2022. Fitch is concerned that if revenues from Blue Racer are
impaired for any reason, such as increased costs, counterparty
performance, or volume underperformance, Blue Racer's distributions
could decline and pressure FR BR.

Credit Metrics Volatile: Fitch forecasts standalone total
debt/distributions (50% of the quantity EBITDA less interest
expense less maintenance capital) of 5.5x in 2020 and rising to
around the negative sensitivity of 6.0x in 2021 driven by delayed
volume growth in 2H2021. The excess cash flow sweep provision
mandates FR BR to sweep 75% of its excess cash flow when leverage
is above 6.5x to prepay the notes.

Refinancing Risk: Refinancing is an approaching concern for FR BR
in 2023, coming one year after 77% of Blue Racer's obligations
mature in 2022. While the term loan has some mandatory amortization
and a cash flow sweep provision, the loan will not be fully
amortized by the term loan maturity in 2023. A refinancing or sale
of assets will be needed to repay the maturing debt. FR BR could
face unfavorable refinancing markets in three years or an inability
to monetize its equity interests in Blue Racer should there be
operating issues at Blue Racer or the dividend stream come under
pressure and negatively affect FR BR's ability to service its
debt.

Group structure Complexity: FR BR has an Environmental, Social and
Governance (ESG) Relevance Score of '4' for Group Structure and
Financial Transparency, as private-equity backed midstream entities
typically have less structural and financial disclosure
transparency than publicly traded issuers for applying Fitch
criteria. This has a negative impact on the credit profile and is
relevant to the rating in conjunction with other factors.

DERIVATION SUMMARY

The closest direct comparable for FR BR within Fitch's midstream
coverage universe is IFM Colonial. IFM Colonial's sole source of
cash flow is its quarterly dividend payments from a noncontrolling,
minority interest in Colonial Pipeline. IFM benefits from the
pipeline's key position as the leading shipper of refined liquid
petroleum products in the Southeast, Mid-Atlantic and Northeast. It
is the largest refined liquid petroleum products pipeline in the
U.S. and the lowest cost method of moving refined product from the
Gulf Coast to the East Coast with a much stronger credit profile
than Blue Racer. However, one risk considered in IFM's ratings is
its structural subordination risk given similar cash flow structure
to FR BR. Fitch believes IFM has much higher credit quality for its
underlying cash flows from Colonial Pipeline compared to Blue
Racer.

KEY ASSUMPTIONS

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

  -- Base case distributions to FR BR are consistent with Fitch's
base case dividends paid from Blue Racer and account for FR BR's
50% ownership stake.

  -- The loan is repaid based on the cash sweep requirements under
the term loan agreement.

  -- No change in sponsor distribution and reinvestment policy.

  -- For the Recovery Rating, Fitch utilized a going-concern (GC)
approach with a 6x EBITDA multiple, which is an approximation of
the multiple seen in recent reorganizations in the energy sector.
There have been a limited number of bankruptcies and
reorganizations within the midstream sector. Two recent gathering
and processing bankruptcies of companies indicate an EBITDA
multiple between 5.0x and 7.0x, by Fitch's best estimates. In its
recent Bankruptcy Case Study Report, "Energy, Power and Commodities
Bankruptcies Enterprise Value and Creditor Recoveries," published
in April 2019, the median enterprise valuation exit multiplies for
35 energy cases for which this was available was 6.1x, with a wide
range.

  -- Fitch assumed a default driven by the suspension of
distributions from Blue Racer for a two-quarter period in 2023,
coincident with the loan maturity leading to a default at FR BR and
a restructuring of the term loan. The GC EBITDA is estimated at
roughly $43 million. The GC EBITDA is similar to the last recovery
analysis done in April 2020 ($42 million). Fitch calculated
administrative claims to be 10%, which is a standard assumption.

RATING SENSITIVITIES

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

  -- Positive Rating action at Blue Racer: Absent any changes to
any other factors, Fitch would seek to maintain the three-notch
separation between the IDRs.

  -- Increased ownership in Blue Racer by FR BR, which would give
FR BR the ability to control the dividend policy at Blue Racer and
could result in a closer notching of the IDRs.

  -- Increased dividend diversification at FR BR without an
increase to current leverage profile.

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

  -- Negative ratings action at Blue Racer.

  -- A decrease in dividends up to FR BR or an increase in debt at
FR BR that results in leverage, as measured by standalone total
debt/distributions (50% of the quantity EBITDA less interest
expense less maintenance capital), from Blue Racer increasing to
above 6.0x on a sustained basis.

LIQUIDITY AND DEBT STRUCTURE

Liquidity Needs Limited: FR BR is an investment holding company
with little liquidity needs. Its term loan has relatively few
covenant requirements. Fitch expects dividends to FR BR to be more
than enough to support its mandatory 1% amortization and minimum
debt-service coverage ratio of 1.1x for the forecast period
2020-2023.

REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF
RATING

The principal sources of information used in the analysis are
described in the Applicable Criteria.

ESG CONSIDERATIONS

FR BR Holdings, L.L.C.: Group Structure: 4

Unless otherwise disclosed in this section, the highest level of
ESG credit relevance is a score of '3'. This means ESG issues are
credit-neutral or have only a minimal credit impact on the entity,
either due to their nature or the way in which they are being
managed by the entity.


FIRST TO THE FINISH: Case Summary & 19 Unsecured Creditors
----------------------------------------------------------
Debtor: First to the Finish Kim and Mike Viano Sports Inc.
        2341 Plum Street
        Edwardsville, IL 62025

Business Description: First to the Finish Kim and Mike Viano
                      Sports Inc. sells sporting goods, hobby, and

                      musical instruments.

Chapter 11 Petition Date: October 7, 2020

Court: United States Bankruptcy Court
       Southern District of Illinois

Case No.: 20-30955

Judge: Hon. Laura K. Grandy

Debtor's Counsel: Robert E. Eggmann, Esq.
                  CARMODY MACDONALD P.C.
                  120 S. Central Ave., Suite 1800
                  Saint Louis, MO 63105
                  Tel: 314-854-8600
                  Email: ree@carmodymacdonald.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Mike Viano, president.

A copy of the petition containing, among other items, a list of the
Debtor's 19 unsecured creditors is available for free at
PacerMonitor.com at:

https://www.pacermonitor.com/view/ZPNZJHY/First_to_the_Finish_Kim_and_Mike__ilsbke-20-30955__0001.0.pdf?mcid=tGE4TAMA


FRONTIER COMMUNICATIONS: CWA & TURN Question Fiber Assets Splitting
-------------------------------------------------------------------
Mike Robuck of Fierce Telecom reports that the Communications
Workers of America (CWA) and The Utility Reform Network (TURN)
filed comments with the FCC that raised concerns that Frontier may
split off its fiber assets, among other items, as part of its
restructuring plan.

Frontier Communications filed for bankruptcy on April 14 to
kick-start a prearranged $10 billion debt-cutting proposal backed
by its bondholders. Frontier announced it had entered into a
Restructuring Support Agreement (RSA) with bondholders representing
more than 75% of its $11 billion outstanding unsecured bonds.
Frontier's goal was to reduce its debt by more than $10 billion.
Frontier filed in the U.S. Bankruptcy Court for the Southern
District of New York.

The CWA represents 8,000 Frontier employees, most of which are
technicians and call center employees.

The RWA and TURN raised red flags with the FCC that the some of the
shareholders are trying to spin off of the more profitable fiber
assets as part of a "virtual separation" plan.

"Frontier's application asserts that there will be no change in
control of the company. However, a group of shareholders who have
been publicly identified as owning close to 50% of Frontier bonds
have been closely coordinating in negotiations with the company and
share legal representation in the bankruptcy process," the CWA and
TURN said in Thursday's press release. "This group, which includes
vulture fund Elliott Management and Franklin Resources, may
continue to coordinate post-bankruptcy and exert control over the
decisions of the company."

Frontier didn't respond to emails that asked what "virtual
separation" meant. Earlier this year, Frontier blamed a lack of
investment in fiber as one of the main reasons it was under
financial duress

The letter to the FCC said splitting off Frontier's fiber assets
from its legacy, copper-based assets would lead to upgrades in the
former, but not in the latter areas. The CWA and TURN acknowledged
in their letter to the FCC that the "virtual separation" mentioned
in Frontier's Fourth Amended Plan wasn't clearly defined, "but
could result in significant changes to Frontier's operations."

"This is appears to refer to a separation of Frontier's fiber
deployment from its non-fiber operations, including perhaps
provision of retail services such as broadband and routine
operations in the company's 'legacy' or copper areas," CWA and TURN
said in their letter to the FCC. "CWA and TURN are concerned that
'virtual separation' could have an effect on the quality and
reliability of service received by Frontier's customers, as well as
Frontier's ability to achieve the Commission’s broadband goals.

"To better understand this term, and its effects on Frontier's
operations and customers, CWA and TURN believe it would be
necessary for the Commission to review numerous documents that were
not filed with the Commission."

Frontier's April 15 Restructuring Term Sheet, dated April 15, 2020,
which was not filed with the Commission, included a footnote
concerning "virtual separation."

"Within 14 days after the RSA Effective Date, the advisors to the
Company Parties will provide to the advisors to the Consenting
Noteholders (on a professionals' eyes only basis) a detailed
timeline with respect to the Virtual Separation and will provide
updates to the advisors to the Consenting Noteholders (on a
professionals' eyes only basis) not less frequently than monthly as
to progress with respect to the Company Parties' efforts in
connection therewith."

The letter to the FCC from CWA and TURN said: "The virtual
separation appears to set up a structure through which Frontier
could seek to capture the revenues from fiber deployments for
investors, potentially depriving retail operations of necessary
cash flows, personnel, and other resources."

"The Commission should obtain all copies of analyses or timelines
that the Applicants have provided to agents of the Consenting
Noteholders. Only by obtaining these documents (on an ongoing
basis) can the Commission develop insights into the potential
outcomes of Applicants' 'virtual separation; plans."

While CWA and TURN don't know what "virtual separation" means, they
said it was important "to understand the implications of such a
separation on Frontier's participation in the federal broadband
deployment programs including the Rural Digital Opportunity Fund
(RDOF) auction."

Frontier filed its Third Amended Plan of Reorganization with the
bankruptcy court on June 29. The Third Amended plan was approved by
Frontier's senior noteholders during a vote in July. On Aug. 17,
Frontier filed its Fourth Amended Plan, which the CWA and TURN said
made "significant changes in financing and other arranges to
incorporate terms of a settlement reached with Frontier's secured
creditors."

               About Frontier Communications

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

Frontier Communications Corporation and 103 related entities sought
Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No. 20-22476) on
April 14, 2020. Judge Robert D. Drain oversees the cases.

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

The U.S. Trustee for Region 2 appointed a committee to represent
unsecured creditors in Debtors' Chapter 11 cases. The committee
tapped Kramer Levin Naftalis & Frankel LLP as its counsel; Alvarez
& Marsal North America, LLC as financial advisor; and UBS
Securities LLC as investment banker.



GAVILAN RESOURCES: Court OKs $40 Million Ch. 11 Sale to Mesquite
----------------------------------------------------------------
Law360 reports that a Texas bankruptcy judge approved the sale of
shale oil and gas company Gavilan Resources LLC's assets to
Mesquite Energy Inc. for $40 million on Oct. 8, 2020, as disputes
over those assets continue.   At a remote hearing, U.S. Bankruptcy
Judge David Jones signed off on the sale to pass assets that
Gavilan and Mesquite had been in a long-standing dispute over,
despite claims that the deal could break the operating agreements
for the oil and gas fields at issue.

                    About Gavilan Resources

Gavilan Resources, LLC, established in July 2016, is a private
equity backed independent exploration and production (E&P) company
headquartered in Houston, Texas, whose production is singularly
focused on the Eagle Ford Shale.

Blackstone-backed Gavilan Resources, LLC, and three affiliates
sought Chapter 11 protection (Bankr. S.D. Tex. Lead Case No.
20-32656) on May 15, 2020, citing plummeting oil prices amid the
COVID-19 pandemic and other market conditions.

Gavilan was estimated to have $1 billion to $10 billion in assets
and $500 million to $1 billion in liabilities as of the bankruptcy
filing.

The Hon. Marvin Isgur is the presiding judge.

The Debtors tapped WEIL, GOTSHAL & MANGES LLP as attorneys; VINSON
& ELKINS, LLP as co-counsel; LAZARD FRERES & CO. LLC as investment
banker; and HURON CONSULTING SERVICES LLC as restructuring advisor.
EPIQ CORPORATE RESTRUCTURING, LLC, is the claims agent.


GECKO PARKS: Seeks to Hire Van Horn Law as Counsel
--------------------------------------------------
Gecko Parks, LLC, seeks authority from the U.S. Bankruptcy Court
for the Southern District of Florida to employ Van Horn Law Group,
P.A., as counsel to the Debtor.

Gecko Parks requires Van Horn Law to:

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

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

   c. prepare motions, pleadings, orders, applications, adversary
      proceedings, and other legal documents necessary in the
      administration of the case;

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

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

Van Horn Law will be paid at these hourly rates:

     Chad Van Horn, Esq.     $450
     Associates              $350
     Jay Molluso             $250
     Law Clerks              $175
     Paralegals              $175

Van Horn Law will be paid a retainer in the amount of $11,717.

Van Horn Law will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Chad T. Van Horn, the firm's founding partner, assured the Court
that the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtor and its estates.

Van Horn Law can be reached at:

     Chad T. Van Horn, Esq.
     VAN HORN LAW GROUP, INC.
     330 N. Andrews Ave., Suite 450
     Fort Lauderdale, FL 33301
     Tel: (954) 765-3166
     E-mail: Chad@cvhlawgroup.com

                      About Gecko Parks

Gecko Parks, LLC, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Fla. Case No. 20-18973) on Aug. 20,
2020.  At the time of the filing, the Debtor had estimated assets
of less than $50,000 and liabilities of less than $50,000. Judge
Peter D. Russin oversees the case.  Van Horn Law Group, P.A., is
the Debtor's legal counsel.


GENCANNA GLOBAL: Selling Warehouse Building in Paduca, Ky.
----------------------------------------------------------
Thomas Capps of WPSD 6 Local reports that hemp manufacturing
company GenCanna is selling the warehouse building it bought two
years ago in downtown Paducah in Kentucky.  GenCanna intended to
turn the building into a manufacturing, warehouse, research, and
retail facility, but the company never did anything with it.

The Gibson Company out of Lexington is selling the building on
behalf of GenCanna.  GenCanna filed for Chapter 11 bankruptcy back
in February, prompting the sale. The bankruptcy allowed MGG
Investment Group to acquire most of GenCanna's assets. The Paducah
building was not included in that acquisition, though.

Building

Because the building is up for sale again, there is question
regarding how it might impact the tax increment financing district
for which the city of Paducah is seeking final approval from the
state. The building sits in the proposed TIF district area, and the
GenCanna plan for the building was included as a new investment on
the TIF application.

The recent assessment done by an independent consultant on the
proposed TIF district also included the GenCanna facility and the
economic impact it would have in the area.

It's unclear if the sale of the building changes the proposed TIF
district. City Manager Jim Arndt did not return any of our calls
about the issue on Friday.

A representative with the Gibson Company says the building has been
on the market for several weeks, and they're already getting
several offers. The building is listed for $1.5 million.

                  About GenCanna Global USA

GenCanna Global USA, Inc. -- https://www.gencanna.com/ -- is a
vertically-integrated producer of hemp and hemp-derived CBD
products with a focus on delivering social, economic and
environmental impact through seed-to-scale agricultural
production.

GenCanna Global USA was the subject of an involuntary Chapter 11
proceeding (Bankr. E.D. Ky. Case No. 20-50133) filed on Jan. 24,
2020. The involuntary petition was signed by alleged creditors
Pinnacle, Inc., Crawford Sales, Inc., and Integrity/Architecture,
PLLC.  

On Feb. 6, 2020, GenCanna Global USA consented to the involuntary
petition and on Feb. 5, 2020, two affiliates, GenCanna Global Inc.
and Hemp Kentucky LLC, filed their own voluntary Chapter 11
petitions.

Laura Day DelCotto, Esq., at DelCotto Law Group PLLC, represents
the petitioners.

The Debtors tapped Benesch Friedlander Coplan & Aronoff, LLP and
Dentons Bingham Greenebaum, LLP as legal counsel, Huron Consulting
Services, LLC as operational advisor, and Jefferies, LLC as
financial advisor.  Epiq is the claims agent, which maintains the
page https://dm.epiq11.com/GenCanna

The Office of the U.S. Trustee appointed a committee of unsecured
creditors on Feb. 18, 2020. The committee tapped Foley & Lardner
LLP as its bankruptcy counsel, DelCotto Law Group PLLC as local
counsel, and GlassRatner Advisory & Capital Group, LLC as financial
advisor.


GENCANNA GLOBAL: Suesd Insurers for Failure to Respond to Fire Clai
-------------------------------------------------------------------
Law360 reports that the bankrupt hemp company formerly known as
GenCanna Global has sued a pair of insurers claiming they have
failed to respond to a claim stemming from a fire that cost the
company $10 million and drove it into insolvency.

GenCanna, which changed its name to OGGUSA Inc. after it sold the
majority of its assets earlier this year, filed an adversary
proceeding on Friday against insurers Talisman Casualty Insurance
Co. and W. I. S. E. Underwriting Agency Ltd. about 10 months after
an explosion and fire burned millions of dollars worth of
GenCanna's raw hemp and products.

                  About GenCanna Global USA

GenCanna Global USA, Inc. -- https://www.gencanna.com/ -- is a
vertically-integrated producer of hemp and hemp-derived CBD
products with a focus on delivering social, economic and
environmental impact through seed-to-scale agricultural
production.

GenCanna Global USA was the subject of an involuntary Chapter 11
proceeding (Bankr. E.D. Ky. Case No. 20-50133) filed on Jan. 24,
2020. The involuntary petition was signed by alleged creditors
Pinnacle, Inc., Crawford Sales, Inc., and Integrity/Architecture,
PLLC.  

On Feb. 6, 2020, GenCanna Global USA consented to the involuntary
petition and on Feb. 5, 2020, two affiliates, GenCanna Global Inc.
and Hemp Kentucky LLC, filed their own voluntary Chapter 11
petitions.

Laura Day DelCotto, Esq., at DelCotto Law Group PLLC, represents
the petitioners.

The Debtors tapped Benesch Friedlander Coplan & Aronoff, LLP and
Dentons Bingham Greenebaum, LLP as legal counsel, Huron Consulting
Services, LLC as operational advisor, and Jefferies, LLC as
financial advisor.  Epiq is the claims agent, which maintains the
page https://dm.epiq11.com/GenCanna

The Office of the U.S. Trustee appointed a committee of unsecured
creditors on Feb. 18, 2020. The committee tapped Foley & Lardner
LLP as its bankruptcy counsel, DelCotto Law Group PLLC as local
counsel, and GlassRatner Advisory & Capital Group, LLC as financial
advisor.


GERASIMOS ALIVIZATOS: Widdowsons Buying Ocean City Propty for $405K
-------------------------------------------------------------------
Gerasimos Alivizatos asks the U.S. Bankruptcy Court for the
District of Maryland to authorize the sale of the real property
located at real property located at 212 Trimper Ave. Ocean City,
Maryland to Neal M. Widdowson and Tory C. Widdowson to $405,000,
cash.

The Debtor owns the Property fee simple and solely; he currently
values the Property on his Schedule A/B at $557,558.  The Property
has not been appraised.   

The Debtor listed the Property for sale for a significant amount of
time prior to the Petition date, having placed the Property on the
market on June 14, 2019.  

On July 29, 2020, the Debtor received an offer on the Property, of
$405,000 in cash from the Buyers, contingent upon the Buyers
acquiring financing for the purchase.  The Debtor wishes to accept
the offer and sell the Property to the Buyers.  The Motion is to
that end.  On July 30, 2020, the Debtor tentatively accepted,
pending approval by the Court and the grant of the Motion, the
Buyers' offer and the contract to sell the Property to the Buyers
for $405,000.

The Debtor believes and avers that the proposed sale price of
$405,000 is fair and reasonable.  This assessment is based on the
following information: (i) the Maryland State Department of
Assessment and Taxation ("SDA")'s assesses the Property's value at
$417,700; (ii) the Property has been on the market as of the date
of the Motion for approximately 460 days, and the average time on
market YTD 2020 in the Ocean City area is 91 days; and (iii) the
Realtor employed in this case has an opinion that the value of the
Property is $433,000.

The employed real estate agent professional is Nicholas Preziosi at
Pen Fed Reality is responsible for the marketing and the sale of
the Property.

The Debtor and the Buyers have no claims against each other.  The
sale proposed is a long-arm sale at fair market value, and per the
Contract is scheduled to close on Oct. 30, 2020.  The Buyers have
paid $4,000 into escrow at a proposed title company.

The Property is encumbered by the following liens:

      a. A lien in the land records of Worcester County, Maryland
filed by way of a Deed of Trust on Sept. 29, 2006 at Liber 4790
Folio 048 for the benefit of Calvin B. Taylor Banking Co. of
Berlin, MD. ("CBT") in the original face value amount of $415,000
("First
Lien").

      b. A lien in the land records of Worcester County, Maryland,
filed by way of a Deed of Trust on Jan. 9, 2009 at Liber 185 Folio
733 for the benefit of Estate of Russell B. Ruggerio in the
original face value amount of $100,000 ("Second Lien").

      c. A lien in the Worcester County land records filed by way
of a Cross-Collateralization Agreement on April 2, 2013 at Liber
6115 Folio 249 for the benefit of CBT in the original face value
amount of $2,094,000, which includes the amount then due under the
Deed of Trust filed at the First Lien, having a present approximate
balance due of $2,148,700 ("Refinanced first lien").

The Debtor has gained the consent of his Motion from CBT.  Should
it be approved by this Court, upon the sale of the Property as
proposed, after the payment of all agreed closing costs, settlement
charges, apportionments, and real estate taxes, the Debtor will
dedicate and pay 100% of the net proceeds of the sale to the CBT
Cross-Collateralized Lien recorded at Claim #9 as indicated in the
Debtor's Chapter 11 Plan.  No other purpose or creditor will
participate in the distribution of the sale's net proceeds other
than CBT.  In consideration of that pledge, CBT has granted consent
to the Motion.  

The Debtor has gained the consent of his Motion from the Ruggerio
Estate.  Should it be approved by the Court, upon the sale of the
Property herein, Ruggerio Estate will release its lien only with
respect to the Property.  It will retain its liens on the Debtor's
remaining properties located at 103 Caroline St, 214 Trimper St.
and 100 S. Baltimore St. all located in Ocean City Maryland, and
Ruggerio Estate's claim remains unimpaired through its remaining
over-secured cross-collateralized lien, which the Debtor will pay
in full through the Debtor's Chapter 11 Plan.

The relief sought in the Motion is critical to the Debtor's
successful reorganization and is justified under section 105(a).

The Debtor asks authority with the Granting of the Motion, and upon
closing of and the consummation of the sale contemplated by the
Motion, the further authority to pay all realtor fees as permitted
by the Court's Order Employing the realtor entered in the case.
The total commission to be paid to the realtor is 5% of the sale
price plus a $350 flat fee as disclosed in the Application to
Employ the Realtor to sell the Property.

A copy of the Agreement is available at
https://tinyurl.com/y4m5wqc3c from PacerMonitor.com free of
charge.

Gerasimos Alivizatos sought Chapter 11 protection (Bankr. D. Md.
Case No. 20-15354) on May 19, 2020.  The Debtor tapped George
Roles, Esq., as counsel.  Nicholas Preziosi at Pen Fed Reality is
the realtor.


GLOBAL ASSET: Keg Rental Company in Chapter 11 Due to Pandemic
--------------------------------------------------------------
WESH.com reports Global Keg, the largest beer keg rental company in
the world, which is in Orlando, has filed for bankruptcy because of
COVID-19.

"Nothing happens until somebody sells something, and when you think
about it, there's nothing more true than that. It is the beginning
of the revenue stream. It keeps every business' doors open and this
is an example of what happens when you don't sell anything," Global
Keg founder Bob Moore said.

"It was suggested that if we close everything up for 15 days, this
would be behind us. That's been about six months ago," Moore said.

The coronavirus pandemic has led to closures of bars all over the
country.

"The first things that got shut down were bars and restaurants,”
Moore said.

Some permanently, causing Global Keg to file for bankruptcy and
chart a new path when the beer stopped flowing and their kegs
weren't rented.

"We filed for protection under the Chapter 11 federal bankruptcy,
which is reorganization, and so we're in the early stages of that,"
Moore said.

Now, the worldwide company based in Orlando is not only telling
their story, but bringing attention to the rolling list of economic
hardship in their industry and a message to those in power.

"Let's not be so heavy-handed with government so that we're
mandating some things that's going to keep these businesses shut
down."

Their hope being that the virus is conquered soon so they and many
others will be able to ring their own 'sales bells.'

                  About Global Asset Rental
                  f/k/a Global Keg Rental

Global Asset Rental, LLC -- http://www.globalkeg.com/-- is an
asset rental and logistics solutions company engaged in the
business of renting plastic pallets and kegs.

Global Asset Rental, LLC f/k/a Global Keg Rental, LLC, based in
Orlando, FL, filed a Chapter 11 petition (Bankr. M.D. Fla. Case No.
6:20-bk-04126) on July 23, 2020. In its petition, the Debtor was
estimated to have $10 million to $50 million in assets and $50
million to $100 million in liabilities.

Genovese Joblove & Battista, P.A., serves as bankruptcy counsel to
the Debtor.  KapilaMukamal, LLP's Soneet R. Kapila is the CRO.

The U.S. Trustee for Region 21 on Aug. 12, 2020, appointed a
committee to represent unsecured creditors in the Chapter 11 case
of Global Asset Rental, LLC.  The Committee retained Shraiberg
Landau & Page, P.A., as counsel.


GLOBAL EAGLE: Creditor Objects to Latham & Watkins' $2.4M Fee
-------------------------------------------------------------
Law360 reports that an unsecured creditor of bankrupt travel
industry entertainment supplier Global Eagle Entertainment Inc.
objected Thursday, October 8, 2020, to an initial $2.4 million
legal fee billing in the Debtor's Chapter 11 case, arguing that the
expense clashes with the wipeout faced by most other creditors.

BMG Rights Management (US) LLC said in its objection that Latham &
Watkins LLP had 85 individuals working on various parts of the
fast-moving case, which was filed on July 22 and is slated for a
sale hearing on Oct. 15, 2020. BMG, a music publishing company,
ranks as the fifth-largest unsecured creditor in the case.

                 About Global Eagle Entertainment

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

Global Eagle Entertainment and its affiliates sought Chapter 11
protection (Bankr. D. Del. Lead Case No. 20-11835) on July 22,
2020. In the petition signed by CFO Christian M. Mezger, Global
Eagle disclosed $630.5 million in assets and $1.086 billion in
liabilities.

Judge John T. Dorsey oversees the cases.

Debtors have tapped Latham & Watkins LLP (CA) and Young Conaway
Stargatt & Taylor, LLP as legal counsel; Greenhill & Co., LLC as
investment banker; Alvarez & Marsal North America, LLC as financial
advisor; and PricewaterhouseCoopers LLP as tax advisor. Prime
Clerk, LLC is the claims and noticing agent.

The Office of the U.S. Trustee appointed a committee of unsecured
creditors on Aug. 5, 2020. The committee has tapped Akin Gump
Strauss Hauer & Feld LLP and Ashby & Geddes, P.A. as its legal
counsel, and Perella Weinberg Partners LP as its investment banker.


GRUPO AEROMEXICO: $ Billion DIP Financing Has Final Approval
------------------------------------------------------------
Grupo Aeromexico,S.A.B. de C.V. (BMV: AEROMEX) announced Oct. 9,
2020, that following revious relevant events dated Aug. 13th, Aug.
19th and Sept. 9th 2020, regarding (a) securing the commitment for
US$1,000 million senior secured  superpriority multi-tranche debtor
in possession term loan facility (the "DIP Facility"),(b) interim
approval of the DIP Facility by Judge Shelley C. Chapman of the
United States Bankruptcy Court for the Southern District of New
York, and (c) the funding of US$100 million of tranche 1loans under
the DIP Facility, on Oct. 9, Judge Chapman approved the DIP
Facility on a final basis, which was a condition precedent to the
availability of the undrawn portion of the tranche 1 loans (US$100
million), as well as the tranche 2 loans (available for an initial
draw of US$175million); such remaining availability under tranche 1
and the initial availability under Tranche 2 will be drawn in a
single draw once the remaining conditions precedent to such draw
are satisfied.  Subsequently, and subject to the  fulfilment of
additional conditions and milestones, additional draws in minimum
amounts of US$100 million would be made available to the Company.

Andres Conesa, CEO of Aeromexico, commented: "The final approval of
the DIP  Facility by the Chapter 11 Court is a key milestone in the
ongoing restructuring process for Aeromexico, which will provide us
with certainty accessing liquidity to continue meeting our ongoing
obligations in an orderly fashion.  The future exercise of the
additional funding under the DIP Facility will continue supporting
our operations during our voluntary restructuring  process.  We
recognize and  appreciate the continuing support from our Board of
Directors and all stakeholders, particularly from our employees,
unions and authorities."

Aeromexico will continue pursuing, in an orderly manner, the
voluntary process of  financial restructuring under the Chapter 11
process, while continuing to operate and offer services to its
customers and contracting from its suppliers the goods  and
services required for operations.  The Company will continue to use
the advantages of the Chapter 11 proceeding to strengthen its
financial position and  liquidity, protect and preserve operations
and assets, and implement the  necessary adjustments to manage the
impact of COVID-19.

                    About Grupo Aeromexico

Grupo Aeromexico, S.A.B. de C.V. -- https://www.aeromexico.com/ --
is a holding company whose subsidiaries are engaged in commercial
aviation in Mexico and the promotion of passenger loyalty
programs.

Aeromexico, Mexico's global airline, has its main hub at Terminal 2
at the Mexico City International Airport.  Its destinations network
features the United States, Canada, Central America, South America,
Asia and Europe.

Grupo Aeromexico and three of its subsidiaries sought Chapter 11
protection (Bankr. S.D.N.Y. Lead Case No. 20-11563) on June 30,
2020.  In the petitions signed by CFO Ricardo Javier Sanchez Baker,
the Debtors reported consolidated assets and liabilities of $1
billion to $10 billion.

Timothy Graulich, Esq., of Davis Polk and Wardell LLP, serves as
counsel to the Debtors.


GRUPO AEROMEXICO: Draws Initial $200M From DIP Financing
--------------------------------------------------------
Grupo Aeromexico, S.A.B. de C.V., announced Sept. 9, 2020, that as
a follow up to its previous relevant events dated August 13 and
August 19, pursuant to which Aeromexico disclosed, among other
matters, that

    (i) the H. Judge Shelley C. Chapman of the United States
Bankruptcy Court for the Southern District of New York (the
"Chapter 11 Court") authorized the commitment of US$1,000 million
senior secured superpriority multi-tranche debtor in possession
term loan facility (the "DIP Facility"), and

   (ii) subject to the entry of an order by the Chapter 11 Court
granting interim approval of the DIP Facility, which was entered on
Aug. 21 following the Aug. 19 interim hearing, and upon fulfillment
of other conditions precedent, US$100 million of the tranche 1
loans under the DIP Facility would be made available ("Initial
Disbursement"),

    the Company announced that the conditions for requesting the
Initial Disbursement (US$100 million of tranche 1 under the DIP
Facility) have been met, and the Company has received such funds
pursuant to the borrowing notice delivered to the administrative
agent under the DIP Facility on Sept. 4, 2020.  

The funding of the Initial Disbursement is a milestone in the
Company's financial restructuring process, which was initiated on
June 30, 2020.  Andres Conesa, CEO of Aeromexico, commented: "The
funding of the Initial Disbursement was a key milestone in the
ongoing restructuring process for Aeromexico, which will provide us
with liquidity to continue meeting our ongoing obligations in an
orderly fashion.  The future exercise of the additional funding
under the DIP Facility will support our continued operations during
the voluntary restructuring process.  We recognize and appreciate
the continuing support from our Board of Directors and all
stakeholders."

Upon the date of entry of an order by the Chapter 11 Court granting
final approval of the DIP Facility, which willoccur by the end of
September, and subject to fulfillment of other conditions set forth
in the DIP Facility, the undrawn portion of the tranche 1 facility
will be available in a single draw, and the tranche 2 loans will be
made available inan initial draw of US$175million, and, subject to
the fulfilment of certain additional conditions and milestones
under the definitive documentation for the DIP Facility, subsequent
draws in minimum amounts of US$100 million will be made available.


Aeromexico will continue pursuing, in an orderly manner, the
voluntary process of financial restructuring under the Chapter 11
process, while continuing to operate and offer services to its
customers and contracting from its suppliers the goods and services
required for operations.  The Company will continue to use the
advantages of the Chapter11 proceeding to strengthen its financial
position and liquidity, protect and preserve operations and assets,
and implement the necessary adjustments to manage the impact of
COVID-19.

                     About Grupo Aeromexico  

Grupo Aeromexico, S.A.B. de C.V. -- https://www.aeromexico.com/ --
is a holding company whose subsidiaries are engaged in commercial
aviation in Mexico and the promotion of passenger loyalty
programs.

Aeromexico, Mexico's global airline, has its main hub at Terminal 2
at the Mexico City International Airport. Its destinations network
features the United States, Canada, Central America, South America,
Asia and Europe.

Grupo Aeromexico and three of its subsidiaries sought Chapter 11
protection (Bankr. S.D.N.Y. Lead Case No. 20-11563) on June 30,
2020.  In the petitions signed by CFO Ricardo Javier Sanchez Baker,
the Debtors reported consolidated assets and liabilities of $1
billion to $10 billion.

Timothy Graulich, Esq., of Davis Polk and Wardell LLP, serves as
counsel to the Debtors.


GULFSLOPE ENERGY: Modifies Terms of Outstanding Debentures
----------------------------------------------------------
GulfSlope Energy, Inc., entered into an agreement with Delek GOM
Investments, LLC, holder of outstanding convertible debentures
issued by the Company in the original principal amount of
$1,220,548 that were scheduled to mature on Oct. 17, 2020. Pursuant
to the agreement, the Company and Delek agreed that the Company
would make the following payments in full satisfaction of the
Company's obligations thereunder:

   * $1,220,548 in cash on the date of the Agreement; and

   * 17,500,000 shares of GulfSlope common stock to be delivered
     to Delek in lieu of accrued and unpaid interest in the
     amount of $129,211.

Upon the timely payment by the Company of the amounts set forth
above, all other amounts due on the Debentures, including any
interest or fees accrued or that will accrue or become due or
payable on the Debentures, will be extinguished.

                        About GulfSlope

Headquartered in Houston, Texas, GulfSlope Energy, Inc. --
http://www.gulfslope.com/-- is an independent crude oil and
natural gas exploration and production company whose interests are
concentrated in the United States Gulf of Mexico federal waters.
GulfSlope Energy commenced commercial operations in March 2013.
GulfSlope Energy was originally organized as a Utah corporation in
2004 and became a Delaware corporation in 2012.

Pannell Kerr Forster of Texas, P.C., in Houston, Texas, the
Company's auditor since November 2019, issued a "going concern"
qualification in its report dated Dec. 30, 2019 on the consolidated
financial statements for the year ended Sept. 30, 2018, citing that
the Company has a net capital deficiency, and further losses are
anticipated in developing the Company's business, which raise
substantial doubt about its ability to continue as a going
concern.

GulfSlope reported a net loss of $13.72 million for the year ended
Sept. 30, 2019, compared to a net loss of $2.64 million for the
year ended Sept. 30, 2018.  As of June 30, 2020, the Company had
$20.66 million in total assets, $19.88 million in total
liabilities, and $783,841 in total stockholders' equity.


HYTERA COMMUNICATIONS: Plan Exclusivity Period Extended Thru Jan.
-----------------------------------------------------------------
Judge Erithe A. Smith has extended the periods within which Hytera
Communications America (West) Inc. and its debtor-affiliates have
the exclusive right to file a plan and solicit acceptances thereof.
Pursuant to sections 1121(c)(2) and 1121(d) of the Bankruptcy
Code, the Court said no parties, other than the Debtors, may file
any plan during the period through and including January 11, 2021.
Pursuant to sections 1121(c)(3) and 1121(d) of the Bankruptcy Code,
no parties, other than the Debtors, may solicit votes to accept a
proposed plan filed with the Court through and including March 12,
2021.

On September 3, 2020, the Debtors asked the U.S. Bankruptcy Court
of the Central District of California, Santa Ana Division, for
extension of the exclusivity periods to file a plan through and
including January 11, 2021, and to obtain acceptance of such plan
through and including March 12, 2021.  Absent an extension, the
Debtor's exclusive period was scheduled to expire September 23.
The Court entered a bridge order extending the exclusivity periods
through and including the October 1 hearing on the matter.

The Debtors said they have been engaged in:

     (a) preparing and filing their schedules of assets of
liabilities and statements of financial affairs;

    (b) marketing their assets and seeking approval of the sale of
substantially all of their assets; and

     (c) responding to discovery requests submitted by Motorola
Solutions, Inc.

In seeking an extension of the exclusivity periods, the Debtors
said they intend to focus on the development of a plan of
liquidation, in consultation with the Official Committee of
Unsecured Creditors, upon consummation of the sale of substantially
all of their assets.

Also, the Debtors have filed and will continue to file the
necessary monthly operating reports to provide parties in interest
with the necessary information regarding the administration of the
estates.

The Debtors and their professionals have been working diligently to
negotiate the terms of an asset purchase agreement with the Hytera
US, Inc., as stalking horse bidder, and the continued marketing of
the Debtors' assets.

"As the Court is aware, we have been engaged in extensive
litigation with Motorola Solutions Inc. concerning the
administration of our Chapter 11 cases and the sale of the Debtors
assets, which has consumed our professionals' and our resources and
have been suspended until the Motion to Dismiss are heard on
December 17, 2020," the Debtors said.

According to a report by Donny Jackson of IWCE's Urgent
Communications, the Office of the United States Trustee has
recommended that the bankruptcy court dismiss the Chapter 11 filing
by U.S. divisions of Hytera, which would block the proposed
"compromised" sale of the business units to a new subsidiary of
Hytera for $9.5 million.

                  About Hytera Communications

Hytera Communications America (West), Inc. -- https://www.hytera.us
-- is a global company in the two-way radio communications
industry. It has 10 international R&D Innovation Centers and more
than 90 regional organizations around the world. Forty percent of
Hytera employees are engaged in engineering, research, and product
design. Hytera has three manufacturing centers in China and Spain.


On May 26, 2020, Hytera sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. C.D. Cal. Lead Case No. 20-11507). At the
time of the filing, Debtor had estimated assets of between $10
million and $50 million and liabilities of between $500 million and
$1 billion.

Judge Erithe A. Smith oversees the cases. Debtors tapped Pachulski
Stang Ziehl & Jones, LLP as bankruptcy counsel; Steptoe & Johnson,
LLP as corporate and special counsel; and Imperial Capital, LLC as
financial advisor.

The Office of the U.S. Trustee appointed a committee of unsecured
creditors on June 15, 2020.  The committee is represented by Levene
Neale Bender Yoo & Brill, LLP.




IFM COLONIAL 2: Fitch Withdraws 'BB+' LT Issuer Default Rating
--------------------------------------------------------------
Fitch Ratings has affirmed IFM (US) Colonial Pipeline 2 LLC's (IFM
Colonial) Long-Term Issuer Default Rating (IDR) at 'BB+'. The
Rating Outlook remains Stable. Fitch has subsequently withdrawn the
rating.

Fitch has chosen to withdraw IFM Colonial's rating for commercial
reasons.

KEY RATING DRIVERS

A Non-Controlling Interest: IFM Colonial's only asset is its 15.8%
interest in the Colonial Pipeline, via Colonial Enterprises, Inc.
(Enterprises). The primary rating concern for IFM Colonial is that
its sole source of cash flow is quarterly dividend payments from
this non-controlling, minority stake. However, some of this concern
is lessened because each of Enterprises' five ultimate owners is
entitled to appoint one of the five directors to Enterprises'
board. A supermajority requirement of a 75% shareholder vote (4/5
directors) for asset sales and the issuance of debt greater than
one year also lessen this concern. Shareholders also have the right
of first refusal on any stock sales to third parties.

IFM Colonial's limited control of Enterprises is further balanced
by the nature of Enterprises' other owners, which are either
long-term investment companies or subsidiaries of major oil and gas
companies. These companies and their ownership interest in
Enterprises are as follows:

  -- Koch Capital Investments Co. LLC (28.09%);

  -- KKR-Keats Pipeline Investors LP (23.44%);

  -- Caisse de depot et placement du Quebec (16.55%);

  -- Shell Midstream Partners, L.P. (16.12%); and

  -- IFM (US) Colonial Pipeline 2 LLC (15.80%).

Very Stable Dividend History: The combination of adherence to an
informal dividend payout policy, supportive FERC-regulated
formula-based tariffs and stable volumes (high utilization) has
resulted in highly visible and reliable distributions from
Enterprises to IFM Colonial. Looking back over the past decade,
Enterprises has consistently distributed nearly all of its net
income in the form of dividends. Fitch expects Enterprises to
continue the payment of predictable quarterly dividends, supported
by the factors. Leverage at Enterprises is expected to rise in the
near term driven by debt financed growth capex. While Fitch does
not view a slightly more aggressive capital structure at
Enterprises as posing an imminent concern for IFM Colonial, Fitch
notes that Enterprises' leverage uptick can pressure liquidity at
times of operational disruption, which in turn may impair cash flow
to IFM Colonial. Future growth projects are expected to generate
incremental cash flow for Enterprises, offsetting some of the
concerns associated with higher near-term leverage.

Single-Asset Pipeline: Not only is IFM Colonial's only source of
cash flow distributions from Enterprises, Enterprises itself is
primarily a single-asset pipeline company that is exposed to a
greater amount of regulatory, economic, environmental, legal and
operational risk than a company that is more diverse in its scale
of business. As evidenced in 2016 and 2017, isolated incidents such
as a pipeline product release/fire and a weather-related event
(hurricane) prompted pipeline shutdowns, operational disruptions
and regulatory/legal repercussions, which negatively impacted
Enterprises financially. Additionally, the National Transportation
Safety Board (NTSB) submitted (in December 2019) a pipeline
accident brief as part of an investigation into a product
release/fire incident in 2016 and the parties impacted by this
incident have filed law suits, the outcomes of which are still
pending.

A Very Important Piece: The Colonial Pipeline is a vital piece of
the energy infrastructure system in the U.S. and maintains a strong
market position as the largest refined liquid petroleum products
pipeline in the country. The pipeline transports more than 50% of
all refined liquid petroleum products consumed along the U.S. East
Coast (PADD 1), stretching from the Gulf Coast to the Northeast
region. Additionally, because the Colonial Pipeline is the most
direct and economic form of transportation compared to alternative
methods such as KMI's Plantation or barge (Jones Act), Colonial
Pipeline's utilization has been running at or near capacity for the
past number of years, discounting periods of operational disruption
due to isolated incidents. Overall, as refinery production remains
limited in the Northeast, Fitch views market conditions continuing
to be favorable for Enterprises supported by stable refined
products demand in key markets.

DERIVATION SUMMARY

IFM Colonial has two rated peers within Fitch's midstream coverage
universe, the co-borrower pair GIP III Stetson I, L.P. and GIP III
Stetson II, L.P. (collectively, Stetson; IDR B-/Stable) and FR BR
Holdings, LLC (FR BR; IDR B-/Negative). These are comparables
insofar as all three companies face cash flow subordination risk
given the sole source of cash flow is quarterly dividend payments
from operating subsidiaries. However, IFM Colonial has a
non-controlling minority interest in its OpCo, where Stetson has a
controlling interest in its respective operating subsidiary and FR
BR exercises more influence with its 50% OpCo ownership stake.

IFM Colonial via the Colonial Pipeline is subject to different
business risks compared to Stetson via its subsidiary EnLink
Midstream, LLC (ENLC; IDR BB+/Negative) and FR BR via its
subsidiary Blue Racer Midstream, LLC (Blue Racer; IDR B+/Stable).
Fitch views the Colonial Pipeline's business risk as lower versus
the respective two peers. The lower business risk, along with lower
leverage and lack of customer concentration, are major credit
factors that would differentiate the Colonial Pipeline from the
respective comparable OpCos.

Lower business risk stems from the Colonial Pipeline's position as
the largest refined petroleum products pipeline in the U.S. with
very consistent volumes. Furthermore, the majority of Colonial's
volumes receive FERC-regulated tariffs as the pipeline is deemed to
have significant market power over a large portion of its route and
would otherwise have complete control over the cost to ship a large
portion of the refined petroleum products produced in the Gulf
Coast to consumers in the Northeast. This is contrasted against the
relatively more volatile gathering & processing segment of the oil
and gas value chain (less volume and price certainty) where ENLC
and Blue Racer operate predominantly. ENLC and Blue Racer benefit
from a small portion of capacity locked in under minimum volume
contracts, but overall volumes are still largely driven by
commodity price-sensitive E&P drilling budgets. Lastly, ENLC relies
on a single counterparty for a large portion of revenue where the
Colonial Pipeline has a very diverse shipper group. Collectively,
these benefits provide IFM Colonial via the Colonial Pipeline with
more predictable and reliable distributions.

KEY ASSUMPTIONS

Fitch's Key Assumptions Within Its Rating Case for the Issuer
  -- Oil and refined product production consistent with the Fitch
Price deck, such as 2021-2022 WTI of $32 per barrel and $37 per
barrel, respectively.

  -- Stable and growing cash flows at IFM Colonial driven by
increased dividend distributions from Enterprises.

  -- Enterprises net income continues to be distributed as
dividends, consistent with its historical dividend payout policy.

RATING SENSITIVITIES

Rating sensitivities are no longer applicable given the rating
withdrawal.

LIQUIDITY AND DEBT STRUCTURE

Limited Liquidity Needs: IFM Colonial is an investment holding
company with little liquidity needs. Liquidity is limited to the
cash on the balance sheet. As of June 30, 2020, IFM Colonial had
total cash and cash equivalents of approximately $100 million. Its
nearest debt maturity presently is the $325 million of senior
secured debt due in January 2030.

IFM Colonial is expected to have adequate liquidity to service its
debt over the next few years. No credit facility exists at IFM
Colonial, so sources of liquidity are restricted to cash on the
balance sheet.

REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF
RATING

The principal sources of information used in the analysis are
described in the Applicable Criteria.

ESG CONSIDERATIONS

IFM (US) Colonial Pipeline 2 LLC has an ESG Relevance Score of '4'
for Group Structure as the company has a complex group structure
with structural subordination. This has a negative impact on the
credit profile and is relevant to the rating in conjunction with
other factors.

Unless otherwise disclosed in this section, the highest level of
ESG credit relevance is a score of '3'. This means ESG issues are
credit-neutral or have only a minimal credit impact on the entity,
either due to their nature or the way in which they are being
managed by the entity.


INSPIREMD INC: Appoints Vice President of Business Development
--------------------------------------------------------------
InspireMD, Inc., has appointed Patrick Jamnik as vice president,
business development and strategic initiatives.  In this newly
created position, Mr. Jamnik will oversee the Company's business
development activities and play a key role in advancing its short
and long-term strategic goals, with much of his focus being the
U.S. market.

"At different times throughout my career, I have been fortunate to
see the powerful impact created when pioneering technology
encounters genuine unmet clinical needs.  CGuard EPS presents the
opportunity to create such an impact on the advancement of carotid
artery stenting," said Mr. Jamnik.  "I am thrilled to be joining
InspireMD at such an important and exciting time."

Mr. Jamnik brings with him more than 15 years of global market
development experience in broad-based roles with both large and
emerging medical technology companies.  Prior to joining InspireMD,
he served in a commercial leadership role for Stryker Corp.  Before
that, he served as director of global marketing at Stanmore
Implants Worldwide and played a central role in establishing its
U.S. business, contributing to its eventual acquisition by Stryker.
Mr. Jamnik received both a BA and MBA from The University of
Wisconsin-Madison.

"We welcome Patrick to the executive leadership team and look
forward to his leadership in advancing our growth through market
and portfolio expansion along with strategic initiatives to build
on the success of our CGuard EPS and Micronet platform.  As we gain
traction and leverage the superior clinical results of our stent
platform, we will continue to develop new strategic pathways for
growth," said Marvin L. Slosman, chief executive officer of
InspireMD.

InspireMD also announced that the Company has granted Patrick
Jamnik, the Company's new vice president of business development,
162,920 shares of restricted stock and options to purchase 54,307
shares of the Company's common stock as inducement awards outside
the Company's 2013 Long-Term Incentive Plan.  The grant was
approved by the Compensation Committee and was made as an
inducement material to the employee entering into employment.  The
grant was made in reliance on the employment inducement exception
to shareholder approval provided under the NYSE American Company
Guide, Section 711(a), which requires public announcement of
inducement awards.

The option award has an exercise price of $0.34 per share, the
closing price of the Company's common stock on Oct. 5, 2020, the
grant date, and has a ten-year term.  Both the option and
restricted stock awards will vest in three equal installments on
the first, second, and third anniversaries of the date of grant,
provided Mr. Jamnik remains employed by the Company through the
applicable vesting dates.  These inducement awards also provide for
accelerated vesting in connection with a change in control of the
Company or certain involuntary terminations of Mr. Jamnik's
employment.

                         About InspireMD Inc.

Headquartered in Tel Aviv, Israel, InspireMD --
http://www.inspiremd.com/-- is a medical device company focusing
on the development and commercialization of its proprietary
MicroNet stent platform technology for the treatment of complex
vascular and coronary disease.  A stent is an expandable
"scaffold-like" device, usually constructed of a metallic material,
that is inserted into an artery to expand the inside passage and
improve blood flow.  Its MicroNet, a micron mesh sleeve, is wrapped
over a stent to provide embolic protection in stenting procedures.

InspireMD recorded a net loss of $10.04 million for the year ended
Dec. 31, 2019, compared to a net loss of $7.24 million for the year
ended Dec. 31, 2018.  As of June 30, 2020, the Company had $17.74
million in total assets, $4.53 million in total liabilities, and
$13.21 million in total equity. As of June 30, 2020, cash and cash
equivalents were $13,861,000 compared to $5,514,000 as of Dec. 31,
2019.
Kesselman & Kesselman, in Tel-Aviv, Israel, the Company's auditor
since 2010, issued a "going concern" qualification in its report
dated March 9, 2020, citing that the Company has suffered recurring
losses from operations and cash outflows from operating activities
that raise substantial doubt about its ability to continue as a
going concern.


INTEGRATED DENTAL: Case Summary & 17 Unsecured Creditors
--------------------------------------------------------
Debtor: Integrated Dental Systems LLC
        145 Cedar lane
        Englewood, NJ 07631

Business Description: Integrated Dental Systems LLC is an
                      integrated dental systems that was
                      established to provide dentists with a full
                      suite of tooth replacement systems, and
                      supporting products, educational resources,
                      and clinical support.

Chapter 11 Petition Date: October 7, 2020

Court: United States Bankruptcy Court
       District of New Jersey

Case No.: 20-21423

Debtor's Counsel: S. Jason Teele, Esq.
                  SILLS CUMMIS & GROSS P.C.
                  One Riverfront Plaza
                  Newark, NJ 07102
                  Tel: (973) 643-4779
                  Email: steele@sillscummis.com

Total Assets: $7,041,242

Total Liabilities: $11,572,479

The petition was signed by Carey Lyons, CEO.

A copy of the petition containing, among other items, a list of the
Debtor's 17 unsecured creditors is available for free at
PacerMonitor.com at:

https://www.pacermonitor.com/view/PS3DRNQ/Integrated_Dental_Systems_LLC__njbke-20-21423__0001.0.pdf?mcid=tGE4TAMA


INTERSTATE COMMODITIES: Hires Forchelli Deegan as Counsel
---------------------------------------------------------
Interstate Commodities Inc. seeks authority from the United States
Bankruptcy Court for the Northern District of New York to hire the
law firm of Forchelli Deegan Terrana LLP as its counsel.

Interstate requires Forchelli to:

     a. give the Debtor legal advice with respect to the powers and
duties as a debtor-in-possession;

     b. prepare applications, answers, orders, reports and other
legal documents on behalf of the Debtor in connection with the
chapter 11 proceeding; and

     c. attend meetings and negotiate with representatives of
creditors and other parties in interest, attend court hearings; and
advise the Debtor on the conduct of its chapter 11 case;

     d. perform all other legal services for the Debtor which may
be necessary in this chapter 11 case; and

     e. advise and assist the Debtor regarding aspects of the plan
confirmation process, including, but not limited to, negotiating
and drafting a plan of reorganization or liquidation and
accompanying disclosure statement, securing the approval of a
disclosure statement, soliciting votes in support of plan
confirmation, and securing confirmation of the plan.

The Forchelli Firm has received a retainer from the Debtor in the
amount of $65,000 plus the filing fee of $1,717.

The Forchelli Firm is a "disinterested person" as that term is
defined in Bankruptcy Code Sec. 101(14), according to court
filings.

The firm can be reached through:

     Gerard R. Luckman, Esq.
     FORCHELLI DEEGAN TERRANA LLP
     333 Earle Ovington Blvd., Suite 1010
     Uniondale, NY 11553
     Tel: 516-812-6291
     E-mail: GLuckman@forchellilaw.com

                  About Interstate Commodities Inc.

Interstate Commodities Inc. engages in the merchandise of
commodities.  The Debtor offers whole corn, soybean meal, soybeans,
soy hulls, soyhull pellets, corn gluten meal, canola meal,
sunflower meal, beet pulp pellets, citrus pulp pellets, and wheat.

Interstate Commodities Inc. filed a voluntary petition for relief
under chapter 11 of the Bankruptcy Code (Bankr. N.D.N.Y. Case No.
20-11139 on August 26, 2020. The petition was signed by Michael G.
Piazza, chief operating officer. At the time of filing, the Debtor
estimated $12,558,336 in assets and $25,513,305 in liabilities.
Gerard R. Luckman, Esq. at FORCHELLI DEEGAN TERRANA LLP represents
the Debtor as counsel.


J.JILL INC: Appoints New CEO as It Dodges Bankruptcy
----------------------------------------------------
Ben Unglesbee of Retail Diver reports that women's apparel seller
J. Jill named Claire Spofford as its new CEO, effective "no later
than" Feb. 15, 2020, according to a press release.

Spofford was once chief marketing officer for J. Jill. Most
recently, she served as president of catalog and online retailer
Cornerstone Brands, where she oversaw the Ballard Designs,
Frontgate, Garnet Hill and Grandin Road banners. She has also had
executive roles at Orchard Brands and Timberland.

She replaces Linda Heasley, who stepped down last December. Board
member Jim Scully has been serving as interim CEO.

As she takes over at J. Jill, Spofford will have a turnaround
project to manage. The retailer has dodged a bankruptcy this year
and still faces financial risks with debt on its balance sheet and
sales far down year over year amid the pandemic.

In September, the company cut a debt exchange deal with lenders
after acknowledging that Chapter 11 was on the table and that the
company's survival was uncertain. The deal followed months of
uncertainty amid an extended forbearance agreement with lenders,
all of it put into motion by the financial turmoil created by the
COVID-19 closures.

In a press release this week, ratings firm S&P Global Ratings gave
the apparel retailer a CCC+ rating following its exchange. The
rating signals "the ongoing risk of a conventional default" at Jill
following the deal. Analysts with S&P did note that the debt
exchange and cash infusion (in the form of a new loan) that came
with the deal reduced J. Jill's default risk, but they also said
that its capital structure could still be unsustainable.

"[P]rior to the pandemic, Jill was already beleaguered by
merchandising and operational missteps that led to deteriorating
performance and our view that its once-loyal customers had strayed
towards other brands," S&P analysts said. "We anticipate continued
operational challenges as the company contends with the continuing
pandemic, while accelerating competitive pressures and changing
consumer preferences hinder sales from returning to fiscal 2019
levels."

Spofford brings with her familiarity of the company and J. Jill's
audience. At Cornerstone Brands, she worked on "evolving the brands
into profitable, digitally driven omnichannel businesses,"
according to a J. Jill press release. Omnichannel chops will likely
be key to J. Jill's turnaround, as the apparel space keeps evolving
and reacting to the COVID-19 pandemic.


                      About J. Jill Inc.

J.Jill, Inc., operates as an Omni channel retailer women's apparel
under the J.Jill brand name in the United States.  The company
offers knit and woven tops, bottoms, and dresses, as well as
sweaters and outerwear; and complementary footwear and accessories,
including scarves, jewelry, and hosiery for misses, petites, and
women.  Its customers comprise women in 40-65 age range.  The
company markets its products through retail stores, Website, and
catalogs.  J.Jill is headquartered in Quincy, Massachusetts.

                          *    *    *

J.Jill (NYSE JILL) on Sept. 1, 2020, announced that with the
support of a majority of the Company's shareholders, it has entered
into a transaction support agreement ("TSA") with lenders holding
greater than 70.0% of the Company's term loans ("Consenting
Lenders") on the principal terms of a financial restructuring
("Transaction") that would result in a waiver of any past
non-compliance with the terms of the Company's credit facilities
and provide the company with additional liquidity.  If the
transaction is consented to by the requisite term loan lenders, the
Transaction will be consummated on an out-of-court basis.  

In the event that the transaction does not receive the required
consents, the parties to the TSA have agreed to a prepackaged plan
of reorganization under Chapter 11 of the United States Code (the
"In-Court Transaction") the key terms of which have been
negotiated, including additional financing during the Chapter 11
process.  While the Company hopes to receive the required consents
to execute the out-of-court Transaction, the Company anticipates
that the in-court transaction would be a swift process in which all
vendor claims would be unimpaired and paid in full, and from which
the Company would emerge with a strong and healthy balance sheet.


J.JILL INC: Considered Among "Most Vulnerable" Retailers
--------------------------------------------------------
Samantha McDonalds of Footwear News says J.Jill has been ranked
among the "most vulnerable" publicly traded retailers in America.

According to the S&P Global Market Intelligence, the womenswear
chain has a 16.8% probability of default over the next 12 months.
Fashion retailers Destination XL and Christopher & Banks also made
the S&P's list, which took into account each companies' one-year
and two-year probability of default on loans, or the likelihood
that they would not be able to make their scheduled repayments on
time.

What's more, the agency's data showed that retail bankruptcies have
already hit 44 so far this year.  That's just one Chapter 11 filing
short of 2011 and three less than 2010, based on the company's S&P
follows.

The fashion and footwear sectors have been hit particularly hard as
the coronavirus pandemic forced widespread store closures and
subsequently halted foot traffic, ultimately denting companies' top
lines and leading analysts to issue low forecasts for the current
earnings quarter.  Among the most high-profile names that sought
bankruptcy protection this year were J. Crew, Neiman Marcus,
JCPenney and Lord & Taylor.

J.Jill, on the other hand, might be inching toward a Chapter 11
filing: Over the past several months, the chain has been teetering
on the brink of insolvency as its forbearance period has been
extended multiple times by lenders. The company revealed that it
was exploring various financial options due to cash flow challenges
that have worsened amid the COVID-19 outbreak.

What's more, the company indicated in a few Securities and Exchange
Commission filings that it faced "substantial doubt" about its
ability to continue as a going concern.  To reduce expenses, it has
drawn down $33 million under its revolving credit facility, as well
as furloughed store associates, reduced the base salaries of its
executive officers and foregone its board of directors' fees.

In late July, as part of its first-quarter report, J.Jill revealed
plans to permanently shutter 11 locations this year -- most of
which are expected to close in the second quarter -- for a total of
275 remaining stores by the end of fiscal 2020.  At the time, it
reported a net loss of $70.3 million versus the prior year's income
of $4.4 million and had roughly

                      About J. Jill Inc.

J.Jill, Inc., operates as an Omni channel retailer women's apparel
under the J.Jill brand name in the United States.  The company
offers knit and woven tops, bottoms, and dresses, as well as
sweaters and outerwear; and complementary footwear and accessories,
including scarves, jewelry, and hosiery for misses, petites, and
women.  Its customers comprise women in 40-65 age range.  The
company markets its products through retail stores, Website, and
catalogs.  J.Jill is headquartered in Quincy, Massachusetts.

                          *    *    *

J.Jill (NYSE JILL) on Sept. 1, 2020, announced that with the
support of a majority of the Company's shareholders, it has entered
into a transaction support agreement ("TSA") with lenders holding
greater than 70.0% of the Company's term loans ("Consenting
Lenders") on the principal terms of a financial restructuring
("Transaction") that would result in a waiver of any past
non-compliance with the terms of the Company's credit facilities
and provide the company with additional liquidity.  If the
transaction is consented to by the requisite term loan lenders, the
Transaction will be consummated on an out-of-court basis.  In the
event that the transaction does not receive the required consents,
the parties to the TSA have agreed to a prepackaged plan of
reorganization under Chapter 11 of the United States Code (the
"In-Court Transaction") the key terms of which have been
negotiated, including additional financing during the Chapter 11
process.  While the Company hopes to receive the required consents
to execute the out-of-court Transaction, the Company anticipates
that the in-court transaction would be a swift process in which all
vendor claims would be unimpaired and paid in full, and from which
the Company would emerge with a strong and healthy balance sheet.


JACE & ACE: Unsecureds to Get 10% in 5 Years Under Plan
-------------------------------------------------------
Jace & Ace, LLC filed with the U.S. Bankruptcy Court for the
Eastern District of Texas, Sherman Division, a Disclosure Statement
for Plan of Reorganization which proposes to repay  its creditors
from their future operating revenue.

Class 4 Claimants (Holders of Allowed Unsecured Claims -- greater
than $1,000) with claims totaling $362,000 are impaired.  The
Debtor will pay to Allowed Class 4 Claimants a total of 10% of
theirclaims, in 20 equal quarterly payments, beginning 30 days
following the later of the Effective Date or the date of the entry
of a Final Order allowing the Class 4 Claim and on a quarterly
basis thereafter, through the Plan Term.

Class 5 Claimants (Holders of Smaller Unsecured Claims – less
than $1,000) are impaired and consist of (i) Allowed Unsecured
Claims against the Debtor in amounts equal to or less than $1,000
and (ii) the those holders of unsecured claims who elect to reduce
their claim to $1,000 and be treated as a Class 5 Claim. The Debtor
shall pay to Class 5 Claimants a total of 50% of their Allowed
Class 5 Claim within 90 days after the later of the Effective Date
or the date the Class 5 Claim is allowed. Payment of Allowed Class
5 Claims shall be in full and final satisfaction of all claims held
by holders of Class 5 Claims.  The Debtor estimates that the
creditors qualifying or electing to be treated as Class 5 Claimants
will aggregate an approximate amount of $4,100.

The existing members of the Debtor shall retain their interest in
the Debtor under the Plan. Debtor’s members have agreed to
contribute funds to the Debtor to the extent necessary for the
Debtor to remit the funds necessary to pay Class 1, Class 2, Class
4 and Class 5 Claims.

The Reorganized Debtor will fund the plan obligations through
future sales revenue and will continue to be owned and operated by
the Klimas.

A full-text copy of the Disclosure Statement dated August 20, 2020,
is available at https://tinyurl.com/y5jwjd3l from PacerMonitor at
no charge.

Counsel for Debtor:

           SUSAN B. HERSH P.C.
           12770 Coit Road, Suite 1100
           Dallas, Texas 75251
           Tel: (972) 503-7070
           Fax: (972) 503-7077
           E-mail: susan@susanbhershpc.com

                      About Jace & Ace

Based in The Colony, Texas, Jace & Ace, LLC filed a voluntary
petition for relief under Chapter 11 of the Bankruptcy Code (Bankr.
E.D. Tex. Case No. 20-40193) on Jan. 21, 2020, estimating under $1
million in assets and liabilities. Susan B. Hersh, Esq., at Susan
B. Hersh, P.C., serves as the Debtor's legal counsel.  


JETBLUE: Fitch Lowers LongTerm IDR to BB-, Outlook Negative
-----------------------------------------------------------
Fitch Ratings has downgraded JetBlue's Long-Term Issuer Default
Rating (IDR) to 'BB-' from 'BB'. The Rating Outlook is Negative. In
addition, Fitch has downgraded JetBlue's senior secured debt
ratings to 'BB+'/'RR1' from 'BBB-'.

The rating downgrade is largely driven by Fitch's expectations that
recovery in air traffic will be slower than previously anticipated.
As such, cash burn is likely to remain material well into 2021 and
credit metrics may remain weak for the rating through the end of
Fitch's forecast period. The downgrade also reflects increasing
debt levels, which help to bolster liquidity in the near term but
puts pressure on leverage metrics over the longer term. Fitch notes
that future increases in total senior secured debt could push the
existing secured issue ratings lower as expected recovery could
become diluted depending on the total outstanding debt balance.

KEY RATING DRIVERS

Substantial New Debt: JetBlue has materially increased its debt
balance since the onset of the coronavirus pandemic to shore up
liquidity. JetBlue's on-balance sheet debt will total more than $5
billion pro-forma for funds that may be borrowed under CARES Act
loans, up from $2.3 billion at year end. On a net basis, the
increase in debt is more limited as JetBlue's cash balance will
also be substantial. This is offset by on-going cash-burn, which
Fitch believes could persist through next year. Fitch expects the
combination of higher debt and weaker air traffic over the next
several years will cause leverage to remain elevated for the 'BB-'
rating through the agency's forecast period.

Capital Raising Actions to Date: Like all North American carriers,
JetBlue has actively raised capital since the onset of the pandemic
to bolster liquidity. JetBlue has fully drawn on its $550 million
revolver, issued a $750 million secured term loan and $923 million
in aircraft EETCs; received $963 million in funds under the Payroll
Support Program; and has executed $385 million in sale-leasebacks.
Early in the crisis, JetBlue also entered into a $1 billion 364-day
secured term loan, which has since been repaid.

CARES Act Loan: JetBlue is eligible for $1.14 billion in loans
under the CARES Act. Fitch understands that the total available
amount may increase as funds are re-allocated away from airlines
that chose to forego the government loans. Airlines taking CARES
Act loans were required to make initial drawings under the program
by the end of September. JetBlue drew $115 million to secure its
position in the program.

Adequate Liquidity Balance: JetBlue ended the second quarter with
more than $3.4 billion of cash and short-term investments on hand
and a manageable cash burn rate. Fitch expects JetBlue to end the
year with a higher cash balance depending on the timing and size of
any capital raises. The company expects the cash burn will be on
the low end of its guidance of $7 million-$9 million/day during the
third quarter. Fitch's base case assumes limited recovery in the
first half of 2021 followed by a more robust recovery in the second
half. This scenario causes cash burn to slow meaningfully by
year-end, leaving the company with a healthy liquidity balance at
YE 2021. JetBlue also benefits from having no material near-term
debt maturities.

Cost Cutting: A slow recovery will be partly offset by
industry-wide cost-cutting efforts. JetBlue reduced its non-fuel
operating expenses by 34% in the second quarter of this year
compared to the same period in 2019, mainly through reduced flying.
The airlines have been proactive in cutting capacity from schedules
as the downturn in demand has persisted, which has helped to reduce
cash burn from very high levels initially. Unlike some larger
carriers, JetBlue has not yet announced large-scale layoffs or
furloughs, but has achieved savings through voluntary measures and
reduced hours. Labor costs were down by 17% in the second quarter
compared to last year and about 25% of JetBlue's employees took
some form of voluntary long-term leave. Variable costs will
inevitably rise as capacity increases, and JetBlue will not see the
same types of cost savings that some larger carriers will see from
things like fleet retirements and management headcount reduction.
However, JetBlue is starting from a lower cost base, which Fitch
believes puts the company in a better position to recover from the
downturn.

Air Traffic Recovery Lagging Initial Expectations: Ongoing high
levels of reported COVID-19 cases and travel restrictions are
leading to a prolonged recovery in air traffic, compared to Fitch's
prior forecast. The industry saw a material rebound in demand off
of April through levels, but the pace of recovery slowed as
reported cases began to rise again in June. Fitch expects traffic
levels to remain anemic until case levels improve substantially or
until more effective treatments or a vaccine become widely
available. Fitch's updated forecast for JetBlue anticipates that
total revenue will be as much as ~75% in the third quarter and
around 65% in the fourth quarter compared to 2019 levels. This
compares to down 57% and down 38% for the third and fourth quarter
in Fitch's April forecast.

There is a high degree of uncertainty in forecasts for 2021 travel
demand. The pace of recovery is likely to depend on how effective
the efforts to contain COVID-19 cases are through the fall and
winter, along with the timing of potential treatments or vaccines.
In any scenario, 2021 traffic is unlikely to recover as quickly as
Fitch previously expected, pushing the timeline for North American
airlines to reach more normalized levels of cash flow and
profitability until at least some time in 2022. Fitch's base case
now has JetBlue's total traffic in 2021 down by roughly a third
from 2019 levels. While Fitch's base case is more pessimistic, it
believes that a vaccine/more effective treatments along with pent
up demand could spur a more rapid rebound later next year. This is
particularly true for domestic/leisure focused carriers like
JetBlue. The company has limited exposure to business travel, or
long-haul international, which are likely to take longer to
rebound.

EETC Ratings: Ratings on JetBlue's EETC transactions were not
covered in this review. Fitch will review JetBlue's EETC
transactions in the coming weeks.

DERIVATION SUMMARY

JetBlue's 'BB-' rating is in line with United Airlines and Spirit
Airlines. Fitch views JetBlue's focus on domestic and leisure
travel to be a benefit over United, which is much more exposed to
international and business travel. This is partly offset by
United's network breadth and greater potential to raise additional
funds if needed. JetBlue's credit metrics are expected to be better
than Spirit's, but this is partly offset by Spirit's low-cost
base.

JetBlue's network and route diversification still lags behind the
big four U.S. carriers, but has strengthened as the carrier has
continued to grow. The company has built a more defensible network
with a leading market share in each of its three main focus cities
(BOS, JFK and FLL) JetBlue also offers a compelling product
compared to competitors with its relatively generous leg room and
in-flight offerings.

KEY ASSUMPTIONS

Key assumptions in Fitch's rating case include:

  -- Airline traffic remaining substantially below historic levels
through 2021 with a modest rebound thereafter;

  -- Jet fuel prices averaging around $1.50/gallon this year and
$1.65 in 2021;

  -- Fitch's base case does not anticipate an extension of the
CARES Act.

RATING SENSITIVITIES

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

  -- EBIT margins remaining in high single digits

  -- Adjusted debt/EBITDAR sustained below 3.75x.

  -- FFO Fixed charge coverage remaining above 3x.

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

  -- Sustained adjusted debt/EBITDAR above 4.75x.

  -- FFO fixed charge coverage falling below 2.5x on a sustained
basis.

  -- EBIT margins in the low single digits.

REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF
RATING

The principal sources of information used in the analysis are
described in the Applicable Criteria.

ESG CONSIDERATIONS

Unless otherwise disclosed in this section, the highest level of
ESG credit relevance is a score of '3'. This means ESG issues are
credit-neutral or have only a minimal credit impact on the entity,
either due to their nature or the way in which they are being
managed by the entity.


KEYSTONE ACQUISITION: S&P Lowers ICR to 'B-' on Higher Leverage
---------------------------------------------------------------
S&P Global Ratings said it lowered its long-term issuer credit
rating on Keystone Acquisition Corp. (KEPRO) to 'B-' from 'B'. The
outlook is stable.

S&P said, "At the same time, we lowered our issue ratings on the
$232.5 million first-lien term loan to 'B-' from 'B' and on the
$100 million second-lien term loan to 'CCC' from 'CCC+'. The
recovery rating on the first-lien term loan remains '3', and the
recovery rating on the second-lien term loan remains '6'."

"The downgrade reflects KEPRO's underperformance versus our
projections since our negative outlook placement in April 2019,
resulting in weakened credit protection measures."

In the 12 months ended second-quarter 2020, the company's revenue
declined about 9% and S&P adjusted margins decreased slightly to
25% (from 26% a year ago).

S&P said, "The company did not realize immediate benefit from some
contract renewal wins that we thought would offset losses. In
addition, the company experienced some contract shrinkage during
the COVID-19 pandemic. As a result of the performance contraction,
the company's leverage as of the second quarter was 8.2x and
coverage was 1.3, metrics more commensurate with a 'B-' rating, in
our view."

"Our rating on KEPRO reflects its narrow product scope, limited
scale within our rated insurance services universe, and high client
concentration--its top-three clients represent approximately 44% of
revenues." This is mitigated by the company's good market position
within its three product segments (quality management, assessments,
and eligibility services), long-standing relationships, steady
performance, and expertise in medical-cost containment and
case-management services. Also, KEPRO has a substantial rate of
retention--above 90%--that enables it to benefit from a largely
recurring organic revenue base made up of long-term, multiyear
contracts."

KEPRO remains well-positioned because of its technical expertise in
its niches and generally supportive industry conditions. The
prevalence of multichronic and specialty conditions in the aging
U.S. population is steadily rising. The expansion of federal
outsourcing and focus on modular-based contracting that mandates
equivalent coverage of behavioral health services and medical
coverage, and Affordable Care Act coverage expansion, present
growth opportunities. As payers find it increasingly difficult to
manage this costly population, KEPRO could see greater demand for
its services.

S&P said, "KEPRO is one of the smallest companies we rate with
revenues of $167 million as of June 30, 2020, adjusted EBITDA of
$41 million, and mid-20% margins. In 2020, we expected the company
to resolve two contracts currently under the appeal and revenues to
start flowing. Delay in benefits from these two contracts will
likely be offset by new contract wins, upselling, and a robust
pipeline. As of June 2020, the company had won four new contracts,
accounting for $12 million of annual revenue." However, due to the
COVID-19 pandemic, some existing agreements saw a decline in
revenue, for example in face-to-face assessments, which the company
is trying to mitigate by employing teleconference capabilities."

S&P said, "We project the company's year-end 2020 revenue will be
down about 2%-3% compared with year-end 2019. We also expect EBITDA
to decline about 9% versus year-end 2019 to about $40 million at
year-end 2020. We expect KEPRO's liquidity sources will exceed uses
by at least 1.2x in the next 12 months. KEPRO's low
capital-expenditure needs (about 1% of revenue) and low
working-capital needs also support liquidity."

Principal liquidity sources:

-- $25 million revolver (entirely undrawn)
-- Cash balance of $7 million as of June 30, 2020
-- Cash funds from operations of around $10 million annually

Principal liquidity uses:

-- Modest debt amortization of $2 million annually

-- Capital expenditures of about $1 million-$3 million

S&P said, "The stable outlook reflects our expectation that KEPRO's
expertise in health care specialty benefits will enable it to
maintain adequate cash-flow generation, with EBITDA margins in the
mid-20% area. Under our base case, we expect an adjusted
debt-to-EBITDA ratio of approximately 8.0x-8.5x and EBITDA interest
coverage of about 1.2x-1.7x for year-end 2020. We project the
company will be able to reduce leverage in 2021 to around 7.5x with
increased revenues from new contract wins and upsell
opportunities."

"We could lower our ratings on KEPRO in the next 12 months if the
company's capital structure becomes unsustainable, in our view, as
reflected by leverage above 10x and coverage below the 1x-1.5x
range. This could occur if the company unexpectedly loses multiple
top clients. We could also lower the ratings if liquidity becomes
less than adequate and we think a covenant breach is likely."

"We could upgrade KEPRO in the next 12 months if it wins current
contract protests with additional revenue from new pipeline and
improves its revenue and EBITDA, with leverage sustained below our
threshold of 7.0x and coverage above 2.0x."


LAS VEGAS MONORAIL: Hires Ballard Rawson as Special Counsel
-----------------------------------------------------------
Las Vegas Monorail Company seeks authority from the U.S. Bankruptcy
Court for the District of Nevada to employ Ballard Rawson Jorgensen
as special counsel to the Debtor.

Las Vegas Monorail requires Ballard Rawson to:

   a. serve as Secretary and General Counsel to Debtor;

   b. advise the Debtor with regard to corporate law matters, and
      attend meetings of the Board of Directors and prepare
      minutes for these meetings;

   c. counsel the Debtor with regard to debt obligations and
      contractual relationships with the bond indenture trustee;

   d. counsel the Debtor regarding various operations issues;

   e. advise the Debtor in connection with its contractual and
      real property rights and obligations relating to the
      resorts and other property owners along the monorail
      alignment;

   f. counsel the Debtor with regard to insurance procurement and
      claims; and

   g. represent the Debtor in administrative matters, including
      franchise matters, with Clark County.

Ballard Rawson will be paid at the hourly rate of $350.

Ballard Rawson holds a retainer in the amount of $46,985.

Ballard Rawson will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Kris T. Ballard, a partner of Ballard Rawson Jorgensen, assured the
Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and does not
represent any interest adverse to the Debtor and its estates.

Ballard Rawson can be reached at:

     Kris T. Ballard, Esq.
     BALLARD RAWSON JORGENSEN
     10181 Park Run Dr., Suite 110
     Las Vegas, NV 89145
     Tel: (702) 425-3555

              About Las Vegas Monorail Company

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.

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

LVMC has tapped Garman Turner Gordon LLP as its bankruptcy counsel,
Alvarez & Marsal North America, LLC as financial advisor, and
Stradling Yocca Carlson & Rauth and Jones Vargas as special
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: Wins Shorter Plan Exclusivity Extension
-------------------------------------------------------
The Honorable James L. Garrity, Jr., of the U.S. Bankruptcy Court
for the Southern District of New York extended the periods within
which LATAM Airlines Group S.A. and its debtor-affiliates have the
exclusive right to file a Chapter 11 plan through and including
January 29, 2021, and to solicit acceptances of the plan through
and including March 23, 2021.

In their Motion, the Debtors requested to extend their exclusivity
periods to file a plan and solicit acceptances, through and
including March 22 and May 21, 2021, respectively.

With the extension, the Debtors are given the opportunity to
conduct the analysis of the claims filed against the estates in
order to have a clear picture of the amounts and classifications
that creditors intend to assert for their claims and the volume of
claim objections.  Absent the extension, the Debtors cannot take
steps to actually contest claims or make meaningful progress on
negotiations of a plan of reorganization since both will take
additional time depending on the amount and classifications
asserted in the proofs of claim filed as well as the nature of
claims objections the Debtors will pursue.

The continued exclusivity will permit the Debtors to avoid the
business disruptions that would result from the development of
competing reorganization plans and will benefit all stakeholders,
including the Debtors, their creditors, and other parties in
interest since it will allow all stakeholders to continue making
progress toward a consensual, value-maximizing restructuring.

                      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 Honorable 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; and Togut, Segal
& Segal LLP, and Claro & Cia in Chile as special counsel. Prime
Clerk LLC is the claims agent.


LATIN AMERICAN MONTESSORI: S&P Rates 2020 Revenue Bonds 'BB+'
-------------------------------------------------------------
S&P Global Ratings assigned its 'BB+' rating to the District of
Columbia's (D.C.) series 2020 revenue bonds to be issued for Latin
American Montessori Bilingual Public Charter School (LAMB). The
outlook is stable.

The series 2020 bonds, with a par of $36.5 million, will be used
primarily to refund the school's outstanding obligations, which
were used to acquire, renovate, and make additions to LAMB's new
facility at the Kingsbury campus. LAMB purchased the four-acre site
with an existing 73,000 square foot building in January 2020 and
has since undertaken a significant renovation to meet the needs of
the school's program. A small portion (about $1.6 million) of the
series 2020 bond proceeds will be used to finance remaining project
costs; the rest will fund a debt service reserve fund (DSRF) and
pay for costs of issuance. The series 2020 bonds will be the only
long-term debt of the school upon closing. Pro forma debt service
is expected to step up over the first three years with capitalized
interest and then level off with maximum annual debt service (MADS)
of just under $2.5 million. The bonds are secured by revenues of
LAMB, a mortgage on the financed facilities, and the DSRF.

In response to COVID-19 and broader public safety concerns, D.C.
schools were closed for the remainder of the 2019-2020 school year
and testing requirements were waived. LAMB provided virtual
learning options to its students with a healthy engagement rate of
98%. The school supplemented online learning with physical
materials given the school's Montessori focus. LAMB kicked off the
2020-2021 school year on Aug. 31 with virtual instruction, with
plans to move to a hybrid format beginning October 26, following
relevant health and safety guidelines. The school has invested in
technology needs, including upgrades to staff computers, purchasing
Chromebooks for students, and securing hotspots. This investment
was supported by LAMB's $50,000 allocation under the Coronavirus
Aid, Relief, and Economic Security (CARES) Act Elementary and
Secondary School Emergency Relief Fund. In addition, LAMB secured a
$1.4 million loan through the Paycheck Protection Program (PPP),
which management expects will be forgiven for meeting stipulated
loan forgiveness conditions, providing additional flexibility.
Despite uncertainty regarding the duration and extent of the impact
of the COVID-19 outbreak, funding continued without delay for
fiscal 2020 and per-pupil funding will increase by 3% for fiscal
2021. In S&P's view, the combination of rising per-pupil funding
and incremental enrollment growth should support near-term
operational improvement.

"We assessed LAMB's enterprise profile as adequate characterized by
its modest but growing enrollment, solid demand with a healthy
waiting list, steady student retention, and excellent academics,
supported by an experienced and capable management team," said S&P
Global Ratings analyst Avani Parikh. "We assessed LAMB's financial
profile as vulnerable reflecting its high MADS burden and leverage,
both on an absolute and per student basis, and recent history of
deficit operations with below 1x pro forma lease adjusted MADS
coverage, offset by expectations of improving operations and growth
in unrestricted reserves supporting a healthy pro forma liquidity
position."

The stable outlook reflects S&P's expectation that LAMB will build
its operations to support sufficient MADS coverage, good liquidity,
and a moderating debt burden, while successfully transitioning to
its new facility and meeting enrollment growth projections.

LAMB is the only accredited, dual language immersion Montessori
public charter school in D.C. The school began operations in the
2003-2004 school year with 57 students serving a mission to create
a self-directed learning environment focused on building a
foundation of knowledge essential for a lifetime of learning, with
the goal of dual literacy in English and Spanish.

S&P said, "We view the risks posed by COVID-19 to public health and
safety as an elevated social risk for all charter schools under our
ESG factors. We believe this is a social risk for LAMB PCS due to
potential decreases in per pupil funding beyond fiscal 2021 that
may occur as a result of recessionary pressures. Despite the
elevated social risk, we believe the school's environmental and
governance risks are in line with our view of the sector as a
whole."


LEVEL SOLAR: Court Confirms Liquidation Plan
--------------------------------------------
Law360 reports that the lengthy Chapter 11 case of residential
solar panel installer Level Solar Inc. moved forward August 25,
2020, when a New York bankruptcy judge confirmed its liquidation
plan in light of a series of creditor settlements that resolved all
outstanding objections to the plan.

U.S. Bankruptcy Judge Robert E. Grossman, who inherited the case in
late 2019 from Judge Mary Kay Vyskocil when she joined the local
district court bench, said he was pleased with the work the parties
did in recent months that led to the settlements and the consensual
confirmation hearing.

                   About Level Solar Inc.

Based in New York, Level Solar Inc. operates under the solar-energy
installation industry. Incorporated in 2013, the company has
operations in Long Island, New York City and Massachusetts.  

Level Solar filed for bankruptcy protection (Bankr. S.D.N.Y. Case
No. 17-13469) on Dec. 4, 2017. At the time of the filing, the
Debtor was estimated to have assets of between $50 million and
$100
million and debt of between $1 million and $10 million.   

Michael Conway, Esq., at Shipman & Goodwin LLP, is the Debtor's
bankruptcy counsel. Akin Gump Strauss Hauer & Feld LLP serves as
corporate counsel.

Ronald J. Friedman, Esq., was appointed Chapter 11 trustee for the
Debtor. The Trustee tapped SilvermanAcampora LLP as his legal
counsel.


LIVEXLIVE MEDIA: Appoints Jerome Gold as Interim CFO
----------------------------------------------------
LiveXLive Media, Inc., appointed Jerome N. Gold to serve as the
interim chief financial officer and interim secretary of the
Company and as the interim chief financial officer and interim
secretary of Slacker, Inc., the Company's wholly owned subsidiary,
to succeed Michael Zemetra, effective as of Oct. 8, 2020.  As of
the Effective Date, the Company and Mr. Zemetra agreed that Mr.
Zemetra's employment with the Company and any of its subsidiaries
will terminate by mutual agreement to allow Mr. Zemetra to pursue
other opportunities for personal reasons.  Mr. Gold will also
assume the role of interim principal accounting officer of the
Company.  The Company is in the process of conducting a
professional search for a qualified candidate to hire as the new
full-time chief financial officer of the Company.

Mr. Gold currently serves as the Company's chief strategy officer
and is a member of the Company's Board of Directors.  Mr. Gold
previously served as the Company's chief financial officer from
April 12, 2017 until April 13, 2018 and was succeeded at the time
by Mr. Zemetra.  

                       Separation Agreement

In connection with his departure, Mr. Zemetra and the Company
entered into the Transition Services and General Release Agreement,
dated as of Oct. 7, 2020, pursuant to which the Company and Mr.
Zemetra agreed upon the terms of Mr. Zemetra's separation from the
Company.  Pursuant to the Separation Agreement, the parties
provided to each other customary general release of all claims, and
Mr. Zemetra agreed to comply with certain non-solicitation and
cooperation provisions and to provide consulting services to the
Company at its request until Nov. 15, 2020, or such other date as
the Company requests, to facilitate the transition of his duties
and responsibilities and the continued operations of the Company.

Pursuant to the Separation Agreement, the Company agreed to provide
Mr. Zemetra the following separation benefits: to (i) extend the
exercise period of Mr. Zemetra's outstanding vested options to 12
months from the last day Mr. Zemetra provides transition services
to the Company, (ii) accelerate the vesting of 78,493
then-outstanding unvested restricted stock units of the Company,
originally granted pursuant to Mr. Zemetra's Employment Agreement,
dated as of April 13, 2018, representing the pro-rata portion of
the original RSUs through the Effective Date, which shall now vest
as of the Effective Date, (iii) issue to Mr. Zemetra 15,618 new
RSUs as compensation for his transition services through Nov. 15,
2020, which shall vest promptly after the earlier of (x) Nov. 15,
2020 and (y) the termination of Mr. Zemetra's transition services
to the Company, (iv) issue to Mr. Zemetra 16,887 new RSUs to
compensate him for his agreement to receive 50% of his monthly base
salary in cash for the months of April, May, June and July 2020, as
previously approved by the Board for all senior executives of the
Company, (v) 50,000 shares of the Company's common stock as Mr.
Zemetra's strategic bonus provided for under his Employment
Agreement, subject to the Company closing an acquisition with a
certain target that is publicly announced at any time on or before
the date that is nine months from the Effective Date and is
completed at any time during a period from the Effective Date and
on or before the date that is nine months from the Announcement
Date, and (vi) continue COBRA coverage for a period of up to one
year from the Effective Date, unless and until he becomes eligible
for alternative health insurance benefits.  In the event that Mr.
Zemetra provides transition services after Nov. 15, 2020, the
Company shall issue to Mr. Zemetra additional RSUs at the same
daily rate based on the Vested RSUs vesting schedule.  With the
exception of any shares that may be sold to cover Mr. Zemetra's
payroll taxes incurred directly in connection with the settlement
of the Vested RSUs, Consulting RSUs, Additional Consulting RSUs and
Deferred Salary RSUs or the issuance of the Bonus Shares, for a
period of one year after the later of (i) Nov. 15, 2020 and (ii)
the termination of Mr. Zemetra’s transition services to the
Company, Mr. Zemetra agreed not to sell on each trading day the
number of shares of the Company's common stock underlying the
Vested RSUs, Consulting RSUs, Additional Consulting RSUs, Deferred
Salary RSUs and Bonus Shares that is in aggregate more than 5% of
such trading day's daily trading volume of the Company's common
stock.

To be entitled to the Separation Benefits, Mr. Zemetra must (a) not
revoke the Separation Agreement within the seven day revocation
period following the date he signed the Separation Agreement, and
(b) comply with his obligations under the Separation Agreement.  In
the event Mr. Zemetra revokes the Separation Agreement, it would
have no effect and the Company would not be obligated to make any
of the payments above.

The shares of the Company's common stock underlying the Options,
the Vested RSUs, the Consulting RSUs, the Deferred Salary RSUs and
the Bonus Shares will be issued, if and when required, pursuant to
the Company's currently effective Registration Statement on Form
S-8 (File No. 333-234619).

                     About LiveXLive Media

Headquartered in West Hollywood, CA, LiveXLive --
http://www.livexlive.com/-- is a global digital media company
focused on live entertainment.  The Company operates LiveXLive, a
live music video streaming platform; and Slacker Radio, a streaming
music pioneer; and also produces original music-related content.
LiveXLive is at 'live social music network', delivering premium
livestreams, digital audio and on-demand music experiences from the
world's top music festivals and concerts, including Rock in Rio,
EDC Las Vegas, Hangout Music Festival, and many more.  LiveXLive
also gives audiences access to premium original content, artist
exclusives and industry interviews. Through its owned and operated
Internet radio service, Slacker Radio (www.slacker.com), LiveXLive
delivers its users access to millions of songs and hundreds of
expert-curated stations.

LiveXLive reported a net loss of $38.93 million for the year ended
March 31, 2020, compared to a net loss of $37.76 million for the
year ended March 31, 2019.  As of June 30, 2020, the Company had
$57.63 million in total assets, $68.94 million in total
liabilities, and a total stockholders' deficit of $11.32 million.

BDO USA, LLP, in Los Angeles, California, the Company's auditor
since 2018, issued a "going concern" qualification in its report
dated June 26, 2020, citing that the Company has suffered recurring
losses from operations, negative cash flows from operating
activities and has a net capital deficiency that raise substantial
doubt about its ability to continue as a going concern.  In
addition, the COVID-19 pandemic could have a material adverse
impact on the Company's results of operations, cash flows and
liquidity.


MADDOX FOUNDRY: Case Summary & 10 Unsecured Creditors
-----------------------------------------------------
Debtor: Maddox Foundry & Machine Works, LLC
        13370 S.W. 170th Street
        Archer, FL 32618

Business Description: Maddox Foundry & Machine Works, LLC operates
                      a foundry machine shop.

Chapter 11 Petition Date: October 7, 2020

Court: United States Bankruptcy Court
       Northern District of Florida

Case No.: 20-10211

Debtor's Counsel: Seldon J. Childers, Esq.
                  CHILDERSLAW, LLC
                  2135 NW 40th Terrace Suite B
                  Gainesville, FL 32605
                  Tel: (866) 996-6104
                  Email: jchilders@smartbizlaw.com

Total Assets: $500,000

Total Debts: $4,495,000

The petition was signed by Chase Hope, managing member.

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/ILKWESI/Maddox_Foundry__Machine_Works__flnbke-20-10211__0001.0.pdf?mcid=tGE4TAMA


MALLINCKRODT: Nears Deal to Hand Majority Ownership to Bondholders
------------------------------------------------------------------
Eliza Ronalds-Hannon of Bloomberg News reports that Mallinckrodt
PLC, the maker of opioids and other drugs, is nearing a deal to
hand majority ownership to its unsecured bondholders as part of a
bankruptcy filing, according to people with knowledge of the plan.

The bonds would be traded for most of Mallinckrodt's equity and
some new debt, and the debt of higher-ranked lenders would be
reinstated or replaced by new securities that fully cover their
claims, said the people. They asked not to be named discussing
private negotiations.

The lenders and opioid claimants would be included in the
agreement, the people said.

                     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.

                         *     *      *

Mallinckrodt has said repeatedly it may seek bankruptcy protection
to ease its millions in litigation costs, but its reorganization
may be "more complex" than others especially if there isn't a
pre-negotiated plan in place, Bloomberg Intelligence legal analyst
Negisa Balluku wrote in a note.


MARYLAND ECONOMIC: Moody's Cuts $118MM Revenue Bonds to Ba1
-----------------------------------------------------------
Moody's Investors Service downgraded to Ba1 from Baa2 the rating on
the outstanding $118,250,000 Maryland Economic Development
Corporation's (MEDCO) Student Housing Refunding Revenue Bonds
(University of Maryland, College Park Projects) Series 2016.
Moody's has also revised the rating outlook to negative from
stable.

RATINGS RATIONALE

This action is prompted by the project's reduced current year
revenue expectations due to COVID-related lower occupancy, the
project's diminished trustee-held fund balances, and the lack of
any direct financial support to date from the University of
Maryland, College Park or the University System of Maryland (rated
Aa1/Stable) to mitigate the challenges from COVID-19. Based on the
project's recently revised FY 2021 budget, Moody's expects that
there is a high likelihood that the project will tap its debt
service reserve fund to make 2021 debt service payments. The amount
of the tap, if any, will depend to a large extent on the occupancy
of the project in FY 2021. Fall 2020 physical occupancy of the
project was 79.6% as of October 1, 2020, and if this level of
occupancy persists through FYE 2021, occupancy would be below
Moody's breakeven occupancy for the project of approximately 82%.
The project has limited liquidity, outside of the debt service
reserve fund, to cover any shortfall in net operating income
available for debt service.

The project, however, benefits from solid fundamentals, including
very strong historical occupancy at close to 100% and relatively
strong pre-COVID Moody's adjusted debt service coverage of 1.55x in
FY 2019 with maximum annual debt service coverage of 1.35x in FY
2019. As such, once the health and safety issues related to the
pandemic have been positively resolved, Moody's anticipates that
occupancy, and consequently financial performance, will recover.

Moody's 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
student housing project and consequently the bonds.

RATING OUTLOOK

The negative outlook incorporates the unknown length of the COVID
outbreak and its effect on project occupancy. If project occupancy
were to decline further, a significant drawdown of the debt service
reserve fund may be required, thus further weakening the credit.
Conversely, if project occupancy were to recover during the year,
the outlook could return to stable.

FACTORS THAT COULD LEAD TO AN UPGRADE OF THE RATING

  - Strong and direct support from the University that materially
increases liquidity and/or cash flow available for debt service

FACTORS THAT COULD LEAD TO A DOWNGRADE OF THE RATING

  - A significant tap to the debt service reserve fund that impairs
the long-term credit profile of the project

  - Low occupancy continuing into the Fall 2021 semester

LEGAL SECURITY

The bonds are special limited obligations payable solely from the
revenues of the project and other funds held with the Trustee and
do not constitute obligations for the issuer or the university.

PROFILE

Established in 1984, the Maryland Economic Development Corporation
enables the State of Maryland to develop property for economic
purposes which serve the public interest. The purpose of the
Corporation is to assist in the expansion, modernization, and
retention of existing Maryland business, and to attract new
business to the State. MEDCO's Student Housing Refunding Revenue
Bonds (University of Maryland, College Park Project) Series 2016
financed two student housing projects with a total of 704 beds on
the campus of University of Maryland, College Park (UMCP) called
South Campus Commons and The Courtyards.

METHODOLOGY

The principal methodology used in this rating was Global Housing
Projects published in June 2017.


MGM RESORT: Moody's Rates New $500MM Sr. Unsec. Notes Ba3
---------------------------------------------------------
Moody's Investors Service assigned a Ba3 rating to MGM Resorts
International's proposed $500 million senior unsecured notes. The
company's Ba3 Corporate Family Rating, Ba3-PD Probability of
Default Rating, and Ba3 rated senior unsecured notes are unchanged.
The Ba3 rating on the senior unsecured notes of MGM China Holdings
Limited is unchanged. MGM's speculative-grade liquidity rating of
SGL-2 is unchanged. The outlook remains negative.

Proceeds from the proposed $500 million senior unsecured notes, net
of fees and expenses, will be used for general corporate purposes,
including refinancing existing debt. The additional liquidity is
beneficial, improving financial flexibility to weather the
coronavirus pandemic and pushing out the company's maturity
profile.

The following ratings/assessments are affected by the action:

New Assignments:

Issuer: MGM Resorts International

Senior Unsecured Notes, Assigned Ba3 (LGD4)

RATINGS RATIONALE

MGM's Ba3 CFR reflects the meaningful earnings weakness expected
from efforts to contain the coronavirus and the slow recovery in
volume as properties reopen. The rating is supported by MGM's large
scale, a diversified presence on the Las Vegas Strip across
multiple customer segments, a solid position within several
regional markets, and its presence in the large Macau market with
favorable long-term prospects. MGM is constrained by its
concentration in Las Vegas, and exposure to the Macau gaming market
that is experiencing volatility and dependent on travel, which is
being curtailed during the pandemic. MGM also faces ramp-up risk
associated with recent resort developments - MGM Cotai (opened in
Q1 2018) and MGM Springfield (opened in August 2018) and the
redeveloped Park MGM (completed in December 2018) and the
integration of the recent Empire City and MGM Northfield Park
acquisitions.

MGM's speculative-grade liquidity rating is SGL-2 reflecting the
expected decline in earnings and cash flow. As of June 30, 2020,
the company, excluding MGM China and MGM Growth Properties LLC, had
$3.8 billion ($4.3 billion proforma for its $500 million offering)
of cash and cash investment balances, including approximately $550
million drawn under its $1.5 billion revolving credit facility. As
of June 30, 2020, MGM China had total liquidity of $1.5 billion,
including $294 million of cash and $1.2 billion of revolver
availability between its two MGM China revolvers. Moody's estimates
the company could maintain sufficient internal cash sources after
maintenance capital expenditures to meet required annual
amortization and interest requirements assuming a sizeable decline
in annual EBITDA. The expected EBITDA decline will not be ratable
over the next year and because EBITDA and free cash flow will be
negative for an uncertain time period, liquidity and leverage could
deteriorate quickly depending on whether properties are open and
the volume of activity.

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. The company's ratings
reflect the impact on MGM of the deterioration in credit quality it
has triggered, given its global exposure, which has left it
vulnerable to shifts in market demand and sentiment in these
unprecedented operating conditions.

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

The negative outlook reflects the uncertain duration and recovery
from the coronavirus-related earnings and cash flow pressure, which
will lead to higher debt (from the revolver draw or other debt
offerings) and leverage even when property earnings recover.
Earnings will decline due to the disruption in casino visitation
resulting from efforts to contain the spread of the coronavirus
including recommendations from federal, state and local governments
to avoid gatherings and avoid non-essential travel. These efforts
included mandates to close casinos on a temporary basis, although
facilities have largely reopened. The negative outlook also
reflects the negative effect on consumer income and wealth stemming
from job losses and asset price declines, which will diminish
discretionary resources to spend at casinos once this crisis
subsides. MGM remains vulnerable to travel disruptions and
unfavorable sudden shifts in discretionary consumer spending and
the uncertainty regarding the timing of facility re-openings and
the pace at which consumer spending at the company's properties
will recover.

While not anticipated in the near term due to the current weak
operating environment, ratings could be upgraded if: consolidated
debt/EBITDA is sustained below 5.0x, EBITDA/fixed charges
(including interest, rent expense, etc.) remains above 2.0x; the
company maintains sufficient liquidity to support both recourse and
non-recourse subsidiaries; operating results of MGM China
operations, including MGM Cotai, track to estimated levels and
share repurchases are funded with asset sale proceeds or cash on
hand rather than debt. The credit ratios required for an upgrade
also take into account that reported credit metrics may experience
some variability due to the timing of new resort openings and the
closing of the announced and potential acquisitions.

Ratings could be downgraded if liquidity deteriorates or if Moody's
anticipates MGM's earnings declines to be deeper or more prolonged
because of actions to contain the spread of the coronavirus or
reductions in discretionary consumer spending. If consolidated
gross debt/ EBITDA is sustained above 6.0x, EBITDA/fixed charges
decline below 1.75x or the company deviates materially from its
financial policy goals, the ratings could be downgraded.

The principal methodology used in these ratings was Gaming
Methodology published in October 2020.

MGM owns and operates casino resorts in Las Vegas, Nevada;
Springfield, Massachusetts; and, through its majority ownership
stake of MGM China Holdings Limited, the MGM Macau resort and
casino and MGM Cotai, which opened in February 2018. MGM also owns
50% of CityCenter in Las Vegas and a majority stake in MGM Growth
Properties LLC (MGP), a real estate investment trust formed in
April 2016. MGM has entered into a long-term triple net master
lease with MGP pursuant to which the company leases and operates 14
properties for MGP. Consolidated net revenue for the twelve-month
period ended June 30, 2020 was approximately $9 billion.


MID-ATLANTIC SYSTEMS: Hires Wiedeman & Douty as Accountant
----------------------------------------------------------
Mid-Atlantic Systems of CPA, Inc., and its debtor-affiliates, seek
authority from the U.S. Bankruptcy Court for the Middle District of
Pennsylvania to employ Wiedeman & Douty, PC, as accountant to the
Debtors.

Mid-Atlantic Systems requires Wiedeman & Douty to assist the Debtor
in the preparation of tax returns and related accounting services.

Wiedeman & Douty will be paid at these hourly rates:

     Principal                   $225
     Senior Manager              $195
     Accounting Staff            $150
     Accounting Associates       $90

Wiedeman & Douty will be paid a retainer in the amount of $5,000.

Wiedeman & Douty will also be reimbursed for reasonable
out-of-pocket expenses incurred.

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

Wiedeman & Douty can be reached at:

     Tracey Douty
     WIEDEMAN & DOUTY, PC
     1993 Hummel Avenue, Suite 201
     Camp Hill, PA 17011
     Tel: (717) 774-2828
     E-mail: Tracey@wedemanDoutyCPA.com

           About Mid-Atlantic Systems of CPA, Inc.

Mid-Atlantic Systems of DPN, et al., are waterproofing companies
that specialize in correcting wet and damp basements and structural
damage. They offer basement waterproofing, foundation repair,
concrete repair, structural repair, radon detection & remediation,
among other services.

Mid-Atlantic Systems of DPN, Inc., based in Newark, DE, and its
affiliates sought Chapter 11 protection (Bankr. M.D. Pa. Lead Case
No. 20-02177) on July 20, 2020.  The Hon. Henry W. Van Eck presides
over the case.

In its petition, the Debtor was estimated to have up to $50,000 in
assets and $100,000 to $500,000 in liabilities.  The petition was
signed by Charles Levine, director, Mid-Atlantic Systems of DPN.

CUNNINGHAM CHERNICOFF & WARSHAWSKY, P.C., serves as bankruptcy
counsel to the Debtor.


MLH HOMES: Seeks to Hires Wiggam & Geer as Legal Counsel
--------------------------------------------------------
MLH Homes, LLC, seeks authority from the United States Bankruptcy
Court for the Northern District of California to hire Wiggam &
Geer, LLC as its bankruptcy counsel.

Wiggam & Geer will provide the following services:

     (a) prepare pleadings and applications;

     (b) conduct examination;

     (c) advise Debtor of its rights, duties and obligations;

     (d) consult with and represent Debtor with respect to a
Chapter 11 plan;

     (e) perform those legal services incidental and necessary to
the day-to-day operations of Debtor's business, including, but not
limited to, institution and prosecution of legal proceedings, and
general business and corporate legal advice and assistance;

     (f) take other actions incident to the proper preservation and
administration of Debtor's estates and business.

The firm's attorneys and legal assistants will charge $425 per hour
and $150 per hour, respectively.  

Will Geer, Esq., at Wiggam & Geer, disclosed in court filings that
he and his firm neither hold nor represent any interest adverse to
Debtor and its bankruptcy estate.

The firm can be reached at:

     Will B. Geer, Esq.
     Wiggam & Geer, LLC
     50 Hurt Plaza, SE, Suite 1150
     Atlanta, GA 30303
     Telephone: (678) 587-8740
     Facsimile: (404) 287-2767
     Email: wgeer@wiggamgeer.com

                          About MLH Homes, LLC

MLH Homes, LLC is a Single Asset Real Estate debtor (as defined in
11 U.S.C. Section 101(51B)).

MLH Homes, LLC filed a petition for relief under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Cal. Case No. 20-68666) on August 3,
2020. The petition was signed by Fred Milani, registered
agent/owner. At the time of filing, the Debtor estimated $50,000 in
assets and $1 million to $10 million in liabilities. Christopher
Carouthers, Esq. at CHRIS CAROUTHERS & ASSOCIATES represents the
Debtor as counsel.


MODELL'S SPORTING: Gets Court OK for Liquidation Plan Creditor Vote
-------------------------------------------------------------------
Alex Wolf of Bloomberg Law reports that Modell's Sporting Goods
Inc. won approval to circulate its bankruptcy liquidation plan for
creditors' vote following a few final revisions.

The athletic gear retailer can pencil in a hearing date next month
to confirm its wind-down Chapter 11 proposal, Judge Vincent F.
Papalia of the U.S. Bankruptcy Court for the District of New Jersey
ruled during a telephonic hearing Thursday, October 8, 2020.

The company projects the plan will pay general unsecured creditors
less than $1 million on an estimated $100 million in claims. A
liquidation trust would be established to wind down the estate and
potentially recoup additional funds.

                  About Modell's Sporting Goods

Modell's Sporting Goods -- https://www.modells.com/ -- is a
family-owned and operated retailer of sporting goods, athletic
footwear, active apparel, and fan gear. Modell's Sporting Goods
operates stores throughout New York, New Jersey, Pennsylvania,
Connecticut, Massachusetts, New Hampshire, Delaware, Maryland,
Virginia and the District of Columbia.

Modell's Sporting Goods, Inc., and its affiliates sought Chapter 11
protection (Bankr. D.N.J. Lead Case No. 20-14179) on March 11,
2020.

Modell's Sporting Goods was estimated to have $500,000 to $1
million in assets and $1 million to $10 million in liabilities.   

The Hon. Vincent F. Papalia is the case judge.

The Debtors tapped Cole Schotz P.C. as counsel; Berkeley Research
Group, LLC, as restructuring advisor; and Prime Clerk LLC as claims
agent.

On March 23, 2020, the Office of the United States Trustee
appointed the Official Committee of Unsecured Creditors of Modell's
Sporting Goods.  The Committee retained Lowenstein Sandler LLP, as
counsel.


NATIONAL MEDICAL: 3rd Circuit Will Rehear Bad-Faith Bankruptcy Bid
------------------------------------------------------------------
Law360 reports that a Third Circuit panel agreed Aug. 25, 2020, to
rehear a bid by National Medical Imaging to collect damages from
U.S. Bank NA for allegedly forcing it out of business with an
involuntary bankruptcy as part of a legal battle that's spanned 12
years and two circuits.

NMI sought a rehearing or an en banc review after a three-judge
panel ruled in June that it hadn't shown the bank acted in bad
faith and refused to revive the company's punitive damages claim.
In a two-page order without reasoning written by Judge Kent A.
Jordan, the panel agreed to a rehearing.

                    About National Medical

National Medical Imaging, LLC and National Medical Imaging Holding
Company, LLC provide medical and diagnostic laboratory services
with principal place of business located at 1425 Brickell Ave.,
Apt. 57E, Miami.

On June 12, 2020, National Medical Imaging and National Medical
Imaging Holding Company filed voluntary petitions for relief under
Chapter 11 of the Bankruptcy Code (Bankr. E.D. Penn. Lead Case No.
20-12618). At the time of the filings, each Debtor disclosed assets
of $10 million to $50 million and liabilities of the same range.  

The Debtors have tapped Dilworth Paxson LLP as their bankruptcy
counsel and Kaufman, Coren & Ress, P.C. and Karalis P.C. as their
special counsel.

Prior to Debtors' voluntary Chapter 11 filing, DVI Receivables
Trusts and other creditors filed involuntary Chapter 11 petitions
(Bankr. E.D. Pa. Case Nos. 05-12714 and 05-12719) against Debtors
on March 3, 2005.  

In 2014, National Medical Imaging hit U.S. Bank N.A. and eight
others with a $50 million lawsuit in Pennsylvania federal court
alleging the bank ruined its business by forcing it into
involuntary bankruptcy proceedings just as it was beginning to
implement a turnaround plan.  National Medical Imaging claims that
the involuntary bankruptcy petitions ultimately destroyed its
business even though the cases were ultimately tossed.


NEP/NCP HOLDCO: Moody's Ups CFR to Caa1 & Alters Outlook to Pos.
----------------------------------------------------------------
Moody's Investors Service upgraded NEP/NCP Holdco, Inc.'s Corporate
Family Rating to Caa1 from Caa2 and upgraded the Probability of
Default Rating to Caa1-PD from Caa2-PD. At the same time, Moody's
upgraded the senior secured 1st lien credit facilities to Caa1 from
Caa2 and the senior secured 2nd lien term loan to Caa3 from Ca. The
outlook was changed to positive from stable.

The upgrade of NEP's ratings reflects Moody's view that NEP's
recent amendment to its first lien credit agreement improves the
company's liquidity profile as it navigates through the severe
shock to its business from the coronavirus impact. As part of the
amendment, the net leverage ratio covenant is waived through
December 30, 2021 along with additional lender-friendly
restrictions for the duration of the waiver. Key restrictions
include a $50 million minimum liquidity (cash and revolver
availability) maintenance covenant tested at the end of every
month, any declined asset sales proceeds by term loan lenders must
go to pay down the revolver, and sponsor management fees will
accrue instead of being paid in cash. Although COVID-19 has yet to
be contained and there are downside risks of further outbreaks or
the emergence of a second wave resulting in sporting and live event
cancellations, Moody's anticipates that NEP's liquidity profile
will remain adequate such that the company will maintain total cash
and revolver availability in excess of $100 million over the next
12-15 months. The positive outlook also reflects Moody's
expectation that NEP's financial profile will steadily improve as
live sports broadcasts return in the U.S. and internationally.
However, Moody's expects NEP's live events segment will remain
significantly impacted by the coronavirus pandemic, with a recovery
not expected until at least the second half of 2021. Moody's
recognizes that despite an improving operating profile, the
company's financial leverage will remain elevated over the next
12-18 months.

Upgrades:

Issuer: NEP/NCP Holdco, Inc

Corporate Family Rating, Upgraded to Caa1 from Caa2

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

Senior Secured 1st Lien Bank Credit Facility, Upgraded to Caa1
(LGD3) from Caa2 (LGD3)

Senior Secured 2nd Lien Bank Credit Facility, Upgraded to Caa3
(LGD6) from Ca (LGD6)

Issuer: NEP Europe Finco B.V.

Senior Secured 1st Lien Bank Credit Facility, Upgraded to Caa1
(LGD3) from Caa2 (LGD3)

Outlook Actions:

Issuer: NEP Europe Finco B.V.

Outlook, Changed to Positive from Stable

Issuer: NEP/NCP Holdco, Inc

Outlook, Changed to Positive from Stable

RATINGS RATIONALE

NEP's Caa1 CFR is constrained by: (1) the company's highly
leveraged capital structure, with debt-to-EBITDA leverage (Moody's
adjusted) of 11.2x for the LTM period ended June 30, 2020, which
could considerably increase due to the significant EBITDA
deterioration in the first half of FY 2020; (2) operating headwinds
in the live events segment, including the risk for protracted
revenue and earnings contraction due to the COVID-19 pandemic and
uncertainties around the global macroeconomic outlook; (3) a highly
capital intensive business model that restrains free cash flow
driven by contract requirements and technology demands; (4) foreign
currency exchange risk with about 50% of NEP's revenue generated
from outside of the United States (5) moderate social and
reputational risks; and (6) private equity ownership and an
aggressive acquisition strategy which could lead to persistent
elevated leverage levels.

NEP's ratings are supported by: (1) a strong global position in the
niche video production industry (2) a diversified blue-chip
customer base with long-standing relationships and low customer
concentration (3) demonstrated capacity to manage its cost base in
challenging economic environments; and (4) the expectation that the
company will maintain at least adequate liquidity over the next
12-15 months.

The positive outlook reflects Moody's expectation for an
incremental improvement in operating performance and liquidity
stemming from the gradual normalization of its broadcast services
and media solutions segments to pre-coronavirus levels by the end
of 2021.

Moody's expects NEP to maintain adequate liquidity over the next
12-15 months, but liquidity is at risk for deterioration depending
on the duration of the pandemic, the pace of recovery and the
company's need to invest in equipment and technology. Sources of
liquidity consist of balance sheet cash of roughly $88 million at
June 30, 2020 and access to roughly $175 million of availability
under its $250 million revolving credit facility due 2023. NEP's
cash flow generation is likely to remain weak over the next several
quarters as Moody's anticipates that the return of live sporting
and performance events will be gradual, with possible disruptions
if additional outbreaks occur leading to more shut-downs. The
company has reduced its operating expenses and capital expenditures
as sports and events were canceled. Moody's expects negative free
cash flow over the next several quarters to persist, given the
current economic conditions and the highly capital-intensive nature
of the business. As part of the amendment, the springing net
leverage ratio covenant was waived under the revolver through
December 30, 2021, along with incorporating lender-friendly terms
for the duration of the waiver. Under the terms of the amendment,
NEP is subject to a $50 million minimum liquidity (cash and
revolver availability) covenant tested at the end of every month.
Other key restrictions include any declined asset sales proceeds by
term loan lenders must go to pay down the revolver and sponsor
management fees will accrue instead of being paid in cash. Moody's
expects that NEP will maintain at least $100 million of liquidity
over the next 12-15 months. NEP may elect to terminate the waiver
and lender-friendly restrictions before December 30, 2021 so long
as it demonstrates compliance with the financial maintenance
covenant as of the end of the most recently ended fiscal quarter
immediately preceding the election, which Moody's does not believe
it will do. Moody's notes that NEP will have a modest cushion under
its net debt financial covenant after the waiver expires and terms
revert back (absent an extension of the waiver period) starting in
the first quarter 2022.

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

The ratings could be downgraded if NEP's revenue and earnings
decline more severely than expected, or do not begin to recover in
the second half of 2020, probability of default increases, or if
liquidity deteriorates for any reason.

The ratings could be upgraded if NEP returns to organic growth,
sustainably decreases debt-to-EBITDA (Moody's adjusted), improves
free cash flow meaningfully and maintains at least good liquidity
with balanced financial policies.

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

NEP/NCP Holdco, Inc, based in Pittsburgh, PA and owned primarily by
affiliates of the Carlyle Group, provides outsourced media services
necessary for the delivery of live broadcast of sports and
entertainment events to television and cable networks, television
content providers, and sports and entertainment producers. Its
major customers include television networks such as ESPN, and key
events it supports include the Super Bowl, the Olympics and
sporting events such as Major League Baseball and Sky and Scottish
Premiership football, as well as entertainment shows such as
American Idol and The Voice.


NEPHROS INC: Expects Third Quarter Revenues of $2.1 Million
-----------------------------------------------------------
Nephros, Inc., reported preliminary financial results for the
quarter ended Sept. 30, 2020.

Net revenues for the quarter are expected to be $2.1 million, a
sequential increase of approximately 34% compared to the prior
quarter ended June 30, 2020, and a decrease of approximately 32%
compared to the quarter ended Sept. 30, 2019.  Nephros ended the
quarter with approximately $5.2 million in cash on a consolidated
basis.

"The COVID-19 pandemic continues to impact our revenues,
particularly in terms of new customer acquisition, emergency
outbreak response, and hotel and restaurant sales," said Andy
Astor, president and CEO of Nephros.  "However, we are pleased that
recurring revenues from existing customers are meeting expectations
and that our customer retention rates remain excellent.  These
metrics indicate to us the underlying strength of our business."

Mr. Astor continued, "We are also making excellent progress in
several important areas, including new opportunities in the food
and beverage market, the development of new pathogen detection
products, and completing our second-generation HDF product.  We
expect to have more to say about each of these areas in the
remaining months of 2020."

                       About Nephros Inc.

River Edge, N.J.-based Nephros, Inc., is a commercial stage medical
device company that develops and sells high performance liquid
purification filters.  Its filters, which are generally classified
as ultrafilters, are primarily used in hospitals for the prevention
of infection from water-borne pathogens, such as legionella and
pseudomonas, and in dialysis centers for the removal of biological
contaminants from water and bicarbonate concentrate.

Nephros reported a net loss of $3.18 million for the year ended
Dec. 31, 2019, compared to a net loss of $3.33 million for the year
ended Dec. 31, 2018.  As of June 30, 2020, the Company had $16.65
million in total assets, $4.37 million in total liabilities, and
$12.27 million in ttoal stockholders' equity.


NEW RESIDENTIAL: DBRS Assigns B(high) LongTerm Issuer Rating
------------------------------------------------------------
DBRS, Inc. has assigned a Long-Term Issuer Rating of B (high) to
New Residential Investment Corp. (NRZ or the Company). The trend on
the rating is Negative. The Company has been assigned a Support
Assessment of SA3 resulting in the Company's final rating being
equalized with its Intrinsic Assessment (IA) of B (high).
Concurrently, DBRS Morningstar has assigned a Long-Term Issuer
Rating of B (high) with a Negative trend to each of the Company's
indirect, wholly owned debt issuing subsidiaries HLSS Holdings,
LLC, HLSS MSR-EBO Acquisition LLC, New Residential Mortgage LLC and
MSR WAC LLC. The Support Assessment for each of the debt issuing
subsidiaries is SA1.

KEY RATING CONSIDERATIONS

The ratings considers NRZ's moderate, but growing franchise in the
U.S. residential mortgage market and acceptable capitalization
which provides a reasonable cushion to covenants given the risk
profile of the balance sheet. The Company's ability to generate
consistent profits demonstrates an ability to produce sufficient
earnings to absorb provisioning for credit losses as well as fair
value movements in assets held at fair value on the balance sheet.
However, the significant loss in 1Q20 illustrates the potential
volatility inherent in the Company's earnings generation ability
and is a meaningful constraint on the ratings. While credit and
operational risk have been managed appropriately, NRZ has
significant market risk with 70% of total assets carried at fair
value. Given the adverse operating environment as a result of the
Coronavirus Disease (COVID-19) pandemic and the related rapid and
material rise in unemployment, DBRS Morningstar expects credit
losses in the residential mortgage portfolio to increase in 2020
and 2021. While the Company has made significant progress removing
mark-to-market requirements from its financing facilities, the
ratings also take into account the Company's weak funding profile
that is reliant on short-term repurchase agreements (repos), which
introduces a level of refinancing risk.

The Negative trend reflects the uncertainty as to the future credit
performance of the Company's residential mortgage loans given the
coronavirus induced recession. While forbearance levels have
declined steadily since May 2020, DBRS Morningstar continues to be
concerned that performance could deteriorate should U.S. labor
markets remain challenged while government support programs and
stimulus expire.

The Ratings are:

  Debt Rated                Action       Rating    Rating
  ----------                ------       ------    ------
HLSS Holdings LLC

  Long-Term Issuer Rating   New Rating   B(high)   Neg

HLSS MSR-EBO Acquisition LLC

  Long-Term Issuer Rating   New Rating   B(high)   Neg

MSR WAC LLC

  Long-Term Issuer Rating   New Rating   B(high)   Neg

New Residential Investment Corp

  Long-Term Issuer Rating   New Rating   B(high)   Neg

New Residential Mortgage LLC

  Long-Term Issuer Rating   New Rating   B(high)   Neg

RATING DRIVERS

Given the Negative trend, an upgrade of the ratings is unlikely.
The trend on the ratings could be moved to Stable should the
Company continue to make progress in strengthening its funding and
liquidity position while also stabilizing its financial
performance.

Conversely, additional material financial losses as a result of the
challenging operating environment would lead to the ratings being
downgraded. Weakening of the Company's liquidity position or an
increase in the composition of funding from short-term funding
facilities would lead to the ratings being downgraded. A material
reduction in the cushion to covenants, including minimum tangible
net worth and leverage, would also result in the ratings being
downgraded.

RATING RATIONALE

DBRS Morningstar considers New York-based NRZ's franchise strength
as moderate. The Company seeks to leverage its expertise, scale,
and infrastructure to capitalize on opportunities in the U.S.
residential mortgage market as the marketplace evolves. NRZ's goal
is to own the "whole mortgage asset", including origination,
servicing, securitizing, appraisal, titling, and workout. The
Company's presence in the residential mortgage marketplace
continues to grow as it evolves from an investment manager focused
on residential mortgage assets to an institution that is more
reliant on the operating businesses that it has acquired to drive
financial performance. DBRS views this evolution and strengthening
market positions as enhancing the franchise, while also benefiting
earnings given the more consistent results generated from these
businesses, all of which are long-term positives. While NRZ's
investment in residential mortgage backed securities has diminished
over the past several years, the Company will invest in
mortgage-backed securities when management perceives opportunities
as being attractive. This introduces the risk of investment style
drift, and is also a potential constraint on the ratings.

As of June 30, 2020, NRZ had total assets of $23.75 billion, down
from $44.9 billion at year-end 2019. With servicing and MSRs
portfolios totaling approximately $277.6 billion and $610 billion
of UPB, respectively, the Company ranks as a top-10 non-bank
mortgage servicer. NRZ is also a leading non-bank residential
mortgage originator with $19.7 billion of mortgages originated in
1H20, and is forecasting volumes of $45-to-$50 billion of
originations for full year 2020 driven by the record low mortgage
rates and corresponding surge in refinancing activity.

NRZ has demonstrated an ability to consistently generate profits.
Indeed, the Company has only reported three quarterly losses (two
of the three quarters have occurred in 2020) since the beginning of
2014 (a span of 26 quarters) and has been profitable each year
since 2015. However, the quality of revenues is considered below
average as most of the Company's income (revenue) has been
generated through gains on fair value of assets or gains on sale,
both of which can be volatile.

For 1H20, NRZ generated a significant loss to common shareholders
of $1.6 billion compared to net income of $113.6 million in 1H19.
With 2Q20 results reflecting a small net loss, the six month
results primarily reflect the outsized loss in 1Q20, which was
driven by an $800 million loss on the sale of securities, a $265
million loss on the fair value of mortgage loans, and a 14%
reduction in net interest income due to the sale of residential
mortgage loans. Earnings were also pressured by a $289 million
negative move in the fair value of MSRs and an impairment of $144.6
million for REO property. DBRS Morningstar notes that the Company's
operating businesses, which are comprised of the servicing and
origination business, generated a pre-tax profit of $296.0 million
in 1H20, benefiting from a growing servicing book and improved
margins on mortgage originations.

NRZ's risk profile is viewed as elevated with credit and
operational risk having been managed appropriately while market
risk is above average with 70% of total assets are carried at fair
value. However, DBRS expects credit losses in the residential
mortgage portfolio to increase in 2020 and 2021 given the abrupt
downturn in the U.S. economy and record levels of unemployment. At
June 30, 2020, New Residential held total receivables and
securities of $15.8 billion, down from $36.4 billion at year-end
2019.

Through July 20, 2020, a total of approximately 185,000 borrowers
had requested and were granted coronavirus related forbearance from
NRZ. Forbearance trends were positive through the end of July with
loans in forbearance declining to 7.8% of the portfolio, down from
a peak of 8.4% in May 2020. Moreover, new forbearance requests are
down significantly. With extra unemployment benefits having expired
at the end of July and coronavirus cases still elevated in certain
areas across the U.S., there is uncertainty as to whether
forbearance requests will increase again in the fall of 2020. To
address this liquidity pressure, NRZ had total committed servicing
advance financing capacity of $5.12 billion, at June 30, 2020. The
Company ended 2Q20 with $2.2 billion of unused servicing advance
capacity under its facilities.

DBRS sees NRZ's meaningful reduction in its residential mortgage
securities portfolio as on overall positive as it reduces the
Company's market risk exposure. At June 30, 2020, the Company held
$6.1 billion of residential mortgage securities at fair value, down
from $19.5 billion at year-end 2019. Of the total securities
portfolio, 68% is comprised of Agency RMBS that is carried at a
slight premium to par. The Company also holds Non-Agency RMBS
securities totalling $1.9 billion at fair value, which is 8% of the
face amount of the securities. The residential mortgage securities
portfolio is in a net unrealized gain position of approximately $18
million at June 30, 2020.

DBRS Morningstar considers the Company's funding profile as weak.
NRZ continues to be reliant on short-term repo financing for
longer-dated but liquid assets in its investment portfolio. This
was demonstrated to be significant weakness during the substantial
market turmoil at the end of March 2020 as the coronavirus pandemic
intensified in the U.S. Furthermore, the Company's financial
flexibility is limited as the balance sheet is highly encumbered.

In response to these developments, NRZ has focused on improving its
funding profile by removing mark-to-market exposure from its
facilities and introducing more term financing for its assets. As
of June 30, 2020, 95% of the Company's investment portfolio (MSRs,
residential loans, non-agency MBS and servicer advances) are funded
with facilities without mark-to-market exposure compared to 100%
call exposure at year-end 2019. NRZ has maintained access to the
securitization markets completing three transactions in 2Q20 and a
subsequent transaction in July 2020. At June 30, 2020, NRZ had
$16.6 billion of debt outstanding, down dramatically from $35.6
billion at year-end 2019. Repurchase agreements comprised $9.2
billion of debt, or 52% of total debt at June 30, 2020, down from
$10.8 billion, or 61% at March 31, 2020, and materially reduced
from $27.9 billion, or 78% of total debt at year-end 2019.

Liquidity has improved reflecting management's intention to hold
higher levels of cash until the operating environment becomes
clearer. At June 30, 2020, the Company held $1.0 billion of cash on
its balance sheet (4% of total assets), and had $9.3 billion of
borrowing capacity across various facilities, subject to eligible
collateral.

NRZ's equity position is acceptable with a reasonable cushion to
covenants. NRZ's total shareholder's equity was $5.4 billion at
June 30, 2020, 20% lower than in the comparable period a year ago,
reflecting the impact of the sizeable loss in 1Q20. The Company has
been successful in raising additional capital over the last 18
months. However, these raises have been via preferred equity, to
prevent dilution of common shareholders. Despite the sizeable loss
generated in 1Q20, the Company's leverage declined to 3.1x at June
30, 2020, from 5.0x at YE19, reflecting the liquidation of the
agency securities portfolio and rapid pay down of debt in late
March 2020, as the Company faced margin calls on certain
facilities.

Notes: All figures are in U.S. dollars unless otherwise noted.


OMAGINE INC: Plan Exclusivity Extended Thru December 7
------------------------------------------------------
At the behest of Omagine, Inc., and Journey of Light, Inc., Judge
Michael E. Wiles extended the Debtors' exclusivity period to file a
chapter 11 plan and solicit acceptances to December 7, 2020.

The U.S. Bankruptcy Court for the Southern District of New York
also ordered that no person other than Debtors shall file a plan of
reorganization before December 8, 2020.

With the extension, the Debtors will have time to complete
negotiations with counsel in Oman, to secure DIP financing, and to
set a hearing date on the proposed plan.

A copy of the Court's Extension Order is available from
PacerMonitor.com at https://bit.ly/33LLT9P at no extra charge.

               About Omagine and Journey of Light

Omagine, Inc., an entertainment, hospitality, and tourism company,
and Journey of Light, Inc. sought Chapter 11 protection (Bankr.
S.D.N.Y. Lead Case No. 20-10742) on March 10, 2020.  At the time of
the filing, Omagine disclosed estimated assets of up to $50,000 and
estimated liabilities of $1 million to $10 million.  

Judge Michael E. Wiles oversees the cases.  Rotbert Business Law
P.C. is the Debtors' legal counsel.


ONEWEB GLOBAL: Taps KPMG LLP to Provide Audit Services
------------------------------------------------------
OneWeb Global Limited and its affiliates seek approval from the
U.S. Bankruptcy Court for the Southern District of New York to
employ KPMG LLP (US) to provide audit and audit-related services.

KPMG (US) has agreed to continue providing the Debtors with audit
and audit-related services. Such services include the performance
of audit procedures related to the operations of OneWeb Global
Limited and its affiliated entities as of and for the year ended
Dec. 31, 2019 as instructed by KPMG (UK), the primary auditor for
the Debtors.

The Debtors will compensate KPMG (US) for the Audit-Related
Services as follows:

     Valuation Specialist Partner          $700
     Partner                               $470
     Managing Director                     $445
     Valuation Specialist Senior Manager   $600
     Senior Manager / Director             $395
     Manager                               $345
     Valuation Specialist Senior Associate $430
     Senior Associate                      $310
     Valuation Specialist Associate        $295
     Associate                             $210

In addition, KPMG (US) received a fixed fee for the Audit Services
in the amount of $240,000 prior to the Petition Date.

Finally, KPMG (US) will seek reimbursement for all reasonable and
necessary expenses incurred.

Risa T. Morrison, CPA, a managing director of KPMG LLP, assured the
Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and does not
represent any interest adverse to the Debtor and its estates.

KPMG LLP can be reached at:

     Risa T. Morrison, CPA
     KPMG LLP
     560 Lexington Ave.
     New York, NY 10022
     Tel: (212) 758-9700

                    About OneWeb Global Limited

Founded in 2012, OneWeb Global Limited is a global communications
company developing a low-Earth orbit satellite constellation system
and associated ground infrastructure, including terrestrial
gateways and end-user terminals, capable of delivering
communication services for use by consumers, businesses,
governmental entities, and institutions, including schools,
hospitals, and other end-users whether on the ground, in the air,
or at sea.  

OneWeb's business consists of the development of the OneWeb System,
which has included the development of small-next generation
satellites that have been mass-produced through a joint venture and
the development of specialized connections between the satellite
system and the internet and other communications networks through
the SNPs. For more information, visit https://www.oneweb.world/

OneWeb Global Limited and its affiliates sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No.
20-22437) on March 27, 2020. The petitions were signed by Thomas
Whayne, chief financial officer. At the time of the filing, Debtors
disclosed assets of between $1 billion and $10 billion and
liabilities of the same range.

Judge Robert D. Drain oversees the cases.

Debtors have tapped Milbank LLP as counsel, Guggenheim Securities,
LLC as investment banker, FTI Consulting, Inc. as financial
advisor, Grant Thornton LLP as tax consultant, and Omni Agent
Solutions as claims, noticing and solicitation agent.  Dixon Hughes
Goodman LLP provides tax consulting and compliance services.


OPTION CARE: Increases 2019 ABL Facility by $25 Million
-------------------------------------------------------
Option Care Health, Inc. executed a first amendment to its ABL
Credit Agreement entered into on Aug. 6, 2019.  This amendment
increases the Total Revolving Credit Commitments under the original
ABL Credit Agreement by $25,000,000 from $150,000,000 to
$175,000,000.  The first amendment to the ABL Credit Agreement is
available for free at:

https://www.sec.gov/Archives/edgar/data/1014739/000101473920000031/a101_firstxamendmentxtox.htm

                     About Option Care Health

Option Care Health is an independent provider of home and alternate
site infusion services.  With over 5,000 teammates, including
approximately 2,900 clinicians, the Company works to elevate
standards of care for patients with acute and chronic conditions in
all 50 states.  Through its clinical leadership, expertise and
national scale, Option Care Health is reimagining the infusion care
experience for patients, customers and employees.

Option Care recorded a net loss of $75.92 million for the year
ended Dec. 31, 2019, compared to a net loss of $6.11 million for
the year ended Dec. 31, 2018.  For the six months ended June 30,
2020, the Company reported a net loss of $27.58 million.


PATRICK JAMES: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Patrick James, Inc.
        7060 N. Marks Ave. Ste. 117
        Fresno, CA 93711

Business Description: Patrick James, Inc. --
                      https://patrickjames.com -- is a retailer
                      of men's apparel.  It offers sport shirts,
                      trousers, sweaters, leather jackets,
                      activewear, footwear, accessories, and more.

Chapter 11 Petition Date: October 9, 2020

Court: United States Bankruptcy Court
       Eastern District of California

Case No.: 20-13293

Judge: Hon. Jennifer E. Niemann

Debtor's Counsel: Hagop T. Bedoyan, Esq.
                  MCCORMICK, BARSTOW, SHEPPARD, WAYTE & CARRUTH
                  7647 North Fresno Street
                  Fresno, CA 93720
                  Tel: 559-433-1300
                  Fax: 559-433-2300
                  Email: hagop.bedoyan@mccormickbarstow.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Patrick M. Mon Pere, president.

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/BDMXS6Q/PATRICK_JAMES_INC__caebke-20-13293__0001.0.pdf?mcid=tGE4TAMA


PAYLESS SHOESOURCE: Drops "Shoesource", Back in Business
--------------------------------------------------------
Today.com reports that Payless ShoeSource closed its final stores
in the U.S. in June 2019 after filing for bankruptcy, but the shoe
retailer announced in August 2020 it is returning.

"Today, Payless, the footwear retailer with a 60+ year heritage, is
excited to announce its relaunch into the North American market,
unveiling an immersive Ecommerce platform and new brick-and-mortar
retail concept stores," the company announced in a press release.

Payless.com was live, with a message saying "Payless is back" on
its main page.

"Formally dropping 'Shoesource' from the brand name, Payless
returns, offering the same, unparalleled commitment to providing
value to their community, now across a range of apparel,
accessories, and footwear," the press release continued.

"We saw an opportunity for the brand to relaunch into the U.S.
market, providing our community with the affordable, value driven
products they've always searched for, now across multiple
categories, at a time when value couldn't be more critical,"
Payless CEO Jared Margolis said. "Payless is for everyone, and now
more than ever, the world needs to pay-less."

"Our goal is to open 300-500 free standing stores across North
America over the next five years, beginning with the launch of the
first prototype store in Miami, FL, the new home and headquarters
for the brand," the company added in its press release.

The company announced in January that it had emerged from Chapter
11 bankruptcy with a plan to reenter the shoe market in the United
States. The company had its sights set on making a successful
comeback, with Margolis calling the U.S. "our biggest growth
opportunity."

Payless filed for bankruptcy in 2017 and again in February 2019
after a failed restructuring plan.  The company exited the American
market when it closed the last of its 2,000-plus stores in June
2019.

While the chain, which was founded in 1956, hoped to once again
have a footprint in the United States, its business remained alive
in international markets.  Payless currently has more than 700
international stores.

All together, Payless had said in January that its international
stores sold 25 million pairs of shoes in the previous 12 months.

                   About Payless Holdings

Payless -- http://www.payless.com/-- was founded in 1956 as an
everyday footwear retailer. It has more than 4,000 stores in more
than 30 countries, and employs approximately 22,000 people. It is
headquartered in Topeka, Kansas, but its operations span across
Asia, the Middle East, Latin America, Europe, and the United
States.

Payless first traded publicly in 1962, and was taken private in May
2012. Payless Holdings, LLC currently owns, directly or indirectly,
each of its 91 subsidiaries.

Payless Holdings LLC (Bankr. E.D. Mo. Case No. 17-42267) and its
subsidiaries sought protection under Chapter 11 of the Bankruptcy
Code on April 4, 2017. The petitions were signed by Paul J. Jones,
chief executive officer.

At the time of the filing, the Debtors estimated their assets at
$500 million to $1 billion and liabilities at $1 billion to $10
billion.  

The Debtors hired Guggenheim Securities LLC as financial advisor
and investment banker; Alvarez & Marsal North America LLC as
restructuring advisor; Prime Clerk LLC as claims, balloting and
administrative agent; and Osler, Hoskin & Harcourt LLP as CCAA
counsel.

Cassels Brock & Blackwell LLP serves as counsel in the CCAA
proceedings while Seward & Kissel LLP serves as counsel for the
Debtors' independent managers.

The Office of the U.S. Trustee on March 1 appointed seven creditors
to serve on the official committee of unsecured creditors in the
Chapter 11 cases of Payless Holdings LLC and its affiliates. The
Committee retained Pachulski Stang Ziehl & Jones LLP as lead
counsel, Province, Inc., as financial advisor, and Back Bay
Management Corporation and its division, The Michel-Shaked Group,
as expert consultant and Dr. Israel Shaked as expert witness.





                    About Payless ShoeSource

Founded in 1956 in Topeka, Kansas, Payless --
https://www.payless.com/ -- is an American footwear retailer
selling shoes and accessories for women, men, girls, and boys.
Payless has 3,400 stores in more than 40 countries. Payless also
operates an e-commerce business through which it sells goods
online
at www.payless.com and Amazon.  Payless first traded publicly in
1962, and was taken private in May 2012.

Payless Holdings and its units sought Chapter 11 protection (Bankr.
E.D. Mo. Case No. 17-42267) in April 2017.

Payless Holdings LLC, along with its affiliates, again sought
Chapter 11 protection (Bankr. D. Mo. Lead Case No. 19-40883) on
Feb. 18, 2019.  In the petitions signed by CRO Stephen Marotta, the
Debtors have estimated
assets and liabilities of $500 million to $1 billion.

The Hon. Honorable Kathy A. Surratt-States presided over the most
recent
cases.

The Debtors tapped Akin Gump Strauss Hauer & Feld LLP as lead
counsel and Armstrong Teasdale LLP as co-counsel. Cassels Brock &
Blackwell LLP acts as CCAA proceedings counsel; Seward & Kissel LLP
acts as independent managers; Ankura Consulting Group, LLC as
restructuring advisors; PJ Solomon, L.P. as financial advisor and
investment banker; PJ Solomon, L.P., as notice and claims agent;
Reevemark LLC as communications consultant; Malfitano Advisors LLC
as liquidation advisors; and Great American Group, LLC and Tiger
Capital Group, LLC as liquidation agents.


PEABODY ENERGY: Climate Tort Claims Dischargeable in Bankruptcy
---------------------------------------------------------------
Maria de la Motte and Dianne Phillips of Holland & Knight LLP wrote
an article on JDSupra titled "U.S. Court of Appeals Holds That
Climate Change Tort Claims are Dischargeable in Bankruptcy."

On May 6, 2020, in the case of In re Peabody Energy Corporation,
958 F.3d 717 (8th Cir.), the U.S. Court of Appeals for the Eighth
Circuit held, in an apparent case of first impression, that state
statutory and common-law climate change tort claims are
dischargeable in bankruptcy and were in fact discharged in this
case, affirming the decisions of the lower courts.

The case involves Peabody Energy Corporation (PEC), which
successfully emerged from its Chapter 11 bankruptcy with a
confirmed plan of reorganization effective April 3, 2017. Several
months later, on July 17, 2017, it was sued, along with nearly 40
other defendants in the fossil fuel industry, by three separate
counties in California alleging the defendants were responsible for
greenhouse gas emissions between 1965 and 2015, which have led to
sea level rise and damage to property. The complaints asserted a
number of causes of action grounded in common-law theories,
including claims for strict liability – failure to warn, strict
liability – design defect, negligence, negligence – failure to
warn, trespass, private nuisance and two statutory claims for
public nuisance under California's Public Nuisance Enabling Statute
(Cal. Civ. Proc. Code § 731) for violation of California's
statutory public nuisance law (Cal. Civ. Proc. Code § 3480).
Relief sought included compensatory damages, equitable relief,
punitive damages, attorneys' fees, disgorgement of profits and cost
of suit.

When confronted with a motion of the reorganized debtor, PEC,
seeking an order to enforce the discharge and injunction provisions
of the Chapter 11 plan filed in the Bankruptcy Court, the
plaintiffs sought to avail themselves of an exception to discharge
contained in the plan related to ongoing, post-petition liabilities
or obligations to a governmental unit under any applicable
environmental law. Plaintiffs argued that the claims should not be
dismissed because 1) they alleged the torts were ongoing and 2) the
purpose of the lawsuits was to ensure the defendants bore the
burden of the foreseeable environmental harm that is being, and
will increasingly be, caused by the defendants' products.

All three courts found these arguments unavailing for several
reasons. Relying on a textual analysis, the bankruptcy court
concluded that the state common-law and statutory claims did not
fall within the definition of environmental laws contained in the
plan. That definition included "all federal, state and local
statutes, regulations and ordinances concerning pollution or
protection of the environment, or environmental impacts on human
health and safety, including [ten federal statutes] and any state
or local equivalents of the foregoing." Specifically, even though
the theories were asserted to address an alleged environmental
harm, they were not pursuant to environmental laws and would
unreasonably expand the environmental exceptions from discharge to
effectively read the term "environment" out of the definition.
Next, relying upon the so-called pecuniary interest rule developed
under the automatic stay provisions of the bankruptcy code, the
bankruptcy court found the claims were not brought under a police
or regulatory law and were designed simply to recover money, namely
damages and disgorgement of 50 years' worth of profits.

The Court of Appeals agreed:

The bankruptcy court pointed out that our court has held, in
construing that provision, that when the government's actions
"would result in an economic advantage to the government or its
citizens over third parties in relation to the debtor's estate,"
then the government is not exercising its police or regulatory
power. It is acting as a creditor.

It didn't matter that the claim asserted was based on a California
statute which provided for equitable relief or that it was for the
benefit of the public brought in the name of the People of the
State of California. All three courts found that because the
plaintiffs chose not to participate or file a claim in PEC's
bankruptcy, despite notice, any pre-petition or pre-confirmation
claim they may have had was discharged.

Notes

1 In re Peabody Energy Corp., 2017 WL 4843724 (Bankr. E.D. Mo.
2017), aff’d, 599 B.R. 610 (E.D. Mo. 2019)

2 958 F.3d at 723


PLUS THERAPEUTICS: Signs $25 Million Stock Purchase Agreement
-------------------------------------------------------------
Plus Therapeutics, Inc., entered into a purchase agreement and a
registration rights agreement with Lincoln Park Capital Fund, LLC,
pursuant to which Lincoln Park has committed to purchase up to $25
million of the Company's common stock, $0.001 par value per share.

Under the terms and subject to the conditions of the Purchase
Agreement, the Company has the right, but not the obligation, to
sell to Lincoln Park, and Lincoln Park is obligated to purchase up
to $25.0 million of the Company's common stock.  Such sales of
common stock by the Company, if any, will be subject to certain
limitations, and may occur from time to time, at the Company's sole
discretion, over the 36-month period commencing on the date that a
registration statement covering the resale of shares of common
stock that have been and may be issued under the Purchase
Agreement, which the Company agreed to file with the Securities and
Exchange Commission pursuant to the Registration Rights Agreement,
is declared effective by the SEC and a final prospectus in
connection therewith is filed and the other conditions set forth in
the Purchase Agreement are satisfied.

Lincoln Park has no right to require the Company to sell any shares
of common stock to Lincoln Park, but Lincoln Park is obligated to
make purchases as the Company directs, subject to certain
conditions.  There are no upper limits on the price per share that
Lincoln Park must pay for shares of common stock. Actual sales of
shares of common stock to Lincoln Park will depend on a variety of
factors to be determined by the Company from time to time,
including, among others, market conditions, the trading price of
the Company's common stock and determinations by the Company as to
the appropriate sources of funding for the Company and its
operations.

The net proceeds under the Purchase Agreement to the Company will
depend on the frequency and prices at which the Company sells
shares of its stock to Lincoln Park.  The Company expects that any
proceeds received by the Company from such sales to Lincoln Park
will be used for working capital and general corporate purposes.

On June 16, 2020, the Company received stockholder approval
pursuant to Nasdaq Listing Rules 5635(a), 5635(b) and 5635(d) to
permit issuances of the Company's common stock (including the
issuance of more than 19.99% of the Company's common stock) to
Lincoln Park pursuant to the Purchase Agreement.  Based on the
closing price of the Company's common stock of $1.05 per share on
March 16, 2020 (the Company's lowest closing sale price since Jan.
1, 2020 as reported on Nasdaq.com) the maximum number of shares the
Company could issue and sell under the Purchase Agreement is
approximately 23.8 million shares.  Accordingly, the Company
requested and received stockholder approval for the issuance of up
to 23.8 million shares of the Company's common stock under the
Purchase Agreement.  The Company would seek additional stockholder
approval before issuing more than 23.8 million shares.

The Company has agreed with Lincoln Park that it will not enter
into any "variable rate" transactions with any third party for a
period defined in the Purchase Agreement.  Lincoln Park has
covenanted not to cause or engage in any manner whatsoever, any
direct or indirect short selling or hedging of the Company's
shares.

As consideration for Lincoln Park's irrevocable commitment to
purchase shares of the Company's common stock upon the terms of and
subject to satisfaction of the conditions set forth in the Purchase
Agreement, upon execution of the Purchase Agreement, the Company
issued 180,701 shares of its common stock to Lincoln Park as
commitment shares.

The Purchase Agreement and the Registration Rights Agreement
contain customary representations, warranties, conditions and
indemnification obligations of the parties.  The Company has the
right to terminate the Purchase Agreement at any time, at no cost
or penalty.  During any "event of default" under the Purchase
Agreement, Lincoln Park does not have the right to terminate the
Purchase Agreement; however, the Company may not initiate any
regular or other purchase of shares by Lincoln Park, until such
event of default is cured.  In addition, in the event of bankruptcy
proceedings by or against the Company, the Purchase Agreement will
automatically terminate.

                    About Plus Therapeutics

Headquartered in Austin, Texas, Plus Therapeutics, Inc. --
http://www.plustherapeutics.com/-- is a clinical-stage
pharmaceutical company focused on the discovery, development, and
manufacturing scale up of complex and innovative treatments for
patients battling cancer and other life-threatening diseases.

Plus Therapeutics reported a net loss of $10.89 million for the
year ended Dec. 31, 2019, compared to a net loss of $12.63 million
for the year ended Dec. 31, 2018.  As of June 30, 2020, the Company
had $13.90 million in total assets, $10.60 million in total
liabilities, and $3.30 million in total stockholders' equity.

BDO USA, LLP, in San Diego, California, the Company's auditor since
2016, issued a "going concern" qualification in its report dated
March 30, 2020 citing that the Company has suffered recurring
losses and negative cash flows from operations that raise
substantial doubt about its ability to continue as a going concern.


PORTO RESOURCES: Selling New York Property for $1.2 Million Cash
----------------------------------------------------------------
Porto Resources, LLC, filed with the U.S. Bankruptcy Court for the
Eastern District of New York a notice of its private sale of the
real property commonly known as 517 West 158th Street, New York,
New York to Monachan Mathai, Murtajur Rahman and Thomas George for
$1.2 million, pursuant to the terms and conditions of the proposed
Contract of Sale.

The counsel for the Debtor affirms that they believe that if the
sale is approved and thereafter consummated, they will be able to
pay off the secured debtor and perhaps emerge from the bankruptcy.
The property is uninhabited and has no tenants.  It is a burned-out
shell, which has been scaled and solidified.  They are applying to
sell the property "privately," as a partial liquidation to
hopefully pay off all creditors.

The parties have entered into their Contract of Sale.  There is no
broker on the sale.

From a market analysis of the property, it appears we will be able
to clear up the debt from both secured creditors.  Furthermore, the
offer will be to sell the property completely "as is."  The Debtor
has a signed contract for $1.2 million.  The Purchasers are
represented by Daniel P. Rosenthal, Esq., with offices located at
543 Broadway, Massapequa, New York.  The Debtor and its counsel
believe the sum is realistic considering the market is accepting
and closing on renovated properties in the area for approximately
$2.1 million.  If one factors in the cost of renovation, the
proposed purchaser would be bringing in a discount value of
$500,000, plus of course, the rents and fees associated therewith,
upon completion of the renovation.

They have kept the contract simple and straight forward.

The highlights are:

      (a) The purchase price is $1.2 million and is all cash.

      (b) The down payment will be a minimum of $80,000, which is
now held in escrow in my Citibank IOLA account, under account
number 4987245847.

      (c) The sale is subject to good tile being passed.

      (d) The Contract of Sale will include that the property will
be sold "as is" and the Seller will assume only post-petition ECB's
and building code violations.  At present, the pre-petition
violations totaled approximately $21,000 (although some of these
are on the other property) and there are another couple of
violations post-petition.

      (e) Cash, certified check or bank check for the balance at
closing, subject to tax and municipal adjustments, if any.  It is
hoped that the Court will so order a waiver of the transfer tax, as
it is a liquidation sale.

      (f) It will be an all cash transaction.

With respect to the foregoing, the Debtor asks the right to allow
the estate to payoff these violations and ECB's at Closing.

As there is no Broker involved, the counsel submits his own
estimate of the costs:

      (a) No broker's fee.

      (b) New York State and City transfer tax, approximately 4.65%
of the property, unless the Court approves their proposed
liquidation plan, being submitted herewith, which would vacate said
requirement.

      (c) Capital Gains Tax after the appropriate adjustment of the
Debtor's cost basis, if any.

      (d) If necessary, the payment of all violation fines and ECB
violations of approximately $21,000, which may include those
violations on the Debtor's other property.

      (e) Any real estate tax arrears, plus interest and penalties,
if any, although it is believed these taxes are new current,
including pre-petition taxes.

      (f) Payment of all outstanding mortgages held by Sunkyung,
Inc., which they differed until said issues are litigated, settled
or adjusted with a maximum amount in all likelihood to be $1.1
million.

      (g) The attorney fees to be approved by the Court at some
date after the transaction is completed.

A sound business reason exists for the transaction in that the sale
will decrease or eliminate all, or almost all of its pre-petition
debt, as well as eliminate the need for the receiver and the
secured creditors.  Even if the sale would not eliminate everything
entirely, the remainder could probably be disposed of in a matter
of months.  The private sale will help the Debtor market the
property and obtain its maximum value as opposed to an auction
which may be interpreted as a "fire sale" or distressed sale.

The Debtor has no executory contracts concerning the premises, save
the mortgage with the secured creditor, which will be satisfied.

A hearing on the Motion is set for Oct. 2020 at 1:00 p.m.
Objections, if any, must be filed no later than seven days prior to
the return date of the Motion.

A copy of the Contract is available at https://tinyurl.com/y5uszofg
from PacerMonitor.com free of charge.

                       About Porto Resources

Porto Resources LLC filed for Chapter 11 bankruptcy protection
(Bankr. E.D.N.Y. Case No. 14-14130) on March 26, 2014, and is
represented by Michael L. Previto, Esq., an attorney in S.
Setauket, N.Y.  At the time of filing, the Debtor estimated
$1,000,001 to $10 million in both assets and liabilities.  Judge
Elizabeth S. Stong oversees the case.

The Debtor's counsel:

     Michael L. Previto, Esq.
     6 Lyndon Lane
     S. Setauket, NY 11720
     Tel: (631) 379-0837


PRIMO WATER: Moody's Rates New EUR450MM Unsec. Notes 'B1'
---------------------------------------------------------
Moody's Investors Service assigned a B1 rating to Primo Water
Holdings Inc.'s proposed new senior unsecured EUR450 notes. At the
same time, other ratings of Primo Water Corporation ("Primo",
formerly Cott Corporation) and its guaranteed subsidiaries were
affirmed including the B1 Corporate Family Rating. Proceeds from
the new Euro issue will be used to refinance existing Euro notes
due in 2024 and pay related fees and expenses. The SGL-1
speculative grade liquidity rating is unchanged. The rating outlook
is stable.

The transaction is credit positive because it is leverage neutral
but will improve liquidity by extending maturities while lowering
interest costs. Moody's expects to withdrawal the B1 rating on the
existing Euro notes due in 2024 once they are repaid.

The following ratings/assessments are affected by the action:

New Assignments:

Issuer: Primo Water Holdings Inc.

Senior Unsecured Notes, Assigned B1 (LGD4)

Ratings Affirmed:

Issuer: Primo Water Corporation

Corporate Family Rating, Affirmed at B1

Probability of Default Rating, Affirmed at B1-PD

Senior Unsecured Global Notes, Affirmed at B1 (LGD4)

Issuer: Primo Water Holdings Inc.

Senior Unsecured Global Notes, Affirmed at B1 (LGD4)

Outlook Actions:

Issuer: Primo Water Corporation

Outlook, Remains Stable

Issuer: Primo Water Holdings Inc.

Outlook, Remains Stable

RATINGS RATIONALE

Primo's B1 CFR reflects its leading positions in the Home and
Office water delivery (HOD) business in both North America and
Europe. Primo also has some business diversity through its growing
Filtration Services business in both markets and its much smaller
Aimia food and beverage business in the UK. In February of 2020,
Primo (then Cott Corporation) sold its commercial coffee business
for $405 million, proceeds of which helped to fund the acquisition
of the Primo Water Corporation for $775 million in cash and stock.
Following the closing of the Primo transaction, Cott rebranded
itself by changing its name to Primo Water Corporation, to better
reflect its pure play water platform and distance itself from the
Cott name's association with private label carbonated soft
beverages.

The acquisition expanded the company's presence in the US water
category, improved its growth and margin opportunities, widened its
customer base and geographic reach within the US and provided some
customer and price point diversification that adds stability in a
downturn. Primo's credit profile is constrained by its small scale,
somewhat narrow, niche focus and concentration on the Home and
Office water delivery and refill businesses. Primo has some risk of
volatility both from economic downturns, which can pressure
profitability in the HOD water services business, and fluctuations
in fuel prices, although this is somewhat mitigated through energy
surcharges. The 2020 business acquisition and divestiture resulted
in a company with lower total revenues but better profit margins
and growth opportunities than before the two transactions. Debt to
EBITDA leverage was also lowered from the mid 4x to the low 4x
range, proforma for the transactions. While this is still
moderately high, Moody's expects strong free cash flows to allow
for debt repayment in the coming year. Primo expects to achieve
about $35 million in synergies over the next 3 years. The rating is
constrained by the moderately high leverage, and an aggressive
appetite for acquisitions. Primo has been growing its presence both
inside and outside the US, using its presence in the HOD businesses
in North America and Europe as a base for further tuck-in
acquisitions. The company has performed reasonably well in the
midst of the coronavirus lockdowns, with the loss of much of its
commercial water business offset by strong demand in the at home
water business. The company also acted quickly to cut costs, many
of which were variable in nature.

The B1 senior unsecured debt rating includes a one notch upward
override to the B2 LGD-model implied outcome. The override reflects
that the unsecured debt represents the vast majority of the funded
debt in the capital structure and that the secured cash flow
revolver will have modest outstandings as the company's leverage
improves going forward. More substantial ongoing use of the
revolver or the addition of other secured debt in the capital
structure could result in a downgrade of senior unsecured
instrument ratings given that the notes would be effectively
subordinated to a larger amount of such secured financing.

The SGL-1 speculative-grade liquidity rating reflects Primo's very
good liquidity because of strong free cash flow expected to exceed
$100 million a year, the expectation of substantial availability
under the $350 million cash flow revolver expiring in 2025, a
significant covenant cushion and no debt maturities until 2025.

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.

Primo's environmental impact remains low, and the associated risks
are limited. Environmental considerations are not a material factor
in the rating.

In terms of corporate governance, Primo Water Corporation is a
publicly traded company listed on both the New York and Toronto
stock exchanges. The company's financial policy has not been overly
aggressive, having maintained moderate leverage in the mid-4x range
in recent years. Primo's funding of the recent acquisition partly
with equity and its articulation of a relatively conservative net
debt to EBITDA target of 3x post synergies (by its definition) are
governance positives. The company estimates net debt-to-EBITDA
leverage is currently in the mid 3x range (by its definition) pro
forma for run rate synergies. However, Primo has undergone
substantial business transformation in the past few years and has
an active acquisition pipeline.

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

Moody's assumes in the stable outlook that Primo will successfully
integrate the recently acquired business, realize synergies, and
reduce debt/EBITDA leverage to 4.0x or below over the next 12-18
months. Moody's also assumes that Primo will maintain very good
liquidity and a stronger margin profile as it transforms its
business.

A ratings upgrade could be considered if Primo successfully
integrates the acquired business, generates organic revenue growth
with a stable to higher margin, gains greater scale and business
diversification, lowers debt to EBITDA leverage below 3.5x on a
sustained basis, and maintains good liquidity.

A decline in earnings as a result of volume declines or margin
contraction, weakening of Primo's liquidity, or an increase in
leverage such that debt-to-EBITDA exceeds 5.5x could result in a
ratings downgrade.

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

Primo Water Corporation, based in Toronto, Ontario, and Tampa,
Florida, is a leading provider of home office delivery water
services and other pure play water solutions in the US, Canada,
Europe, and Israel. The company also has specialist food and
beverage manufacturing through its Aimia business based in the UK
and offers premium branded mineral water in North America following
its 2018 acquisition of Mountain Valley. Primo is publicly traded.
Pro forma annual sales after the coffee divestiture and legacy
Primo acquisition approximate $2.0 billion.


PROTECTIVE POWER: Voluntary Chapter 11 Case Summary
---------------------------------------------------
Debtor: Protective Power Systems and Controls, Inc.
        2092 Route 9G
        Staatsburg, NY 12580

Business Description: Protective Power Systems and Controls, Inc.
                      -- https://power-now.net -- is a power
                      generation service company founded in 2002.
                      
Chapter 11 Petition Date: October9, 2020

Court: United States Bankruptcy Court
       Southern District of New York

Case No.: 20-36029

Judge: Hon. Cecelia G. Morris

Debtor's Counsel: Michelle L. Trier, Esq.
                  GENOVA & MALIN
                  1136 Route 9
                  Wappingers Falls, NY 12590
                  Tel: 845-298-1600

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Andrea Patierno, president.

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

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

https://www.pacermonitor.com/view/QJYHEGY/Protective_Power_Systems_and_Controls__nysbke-20-36029__0001.0.pdf?mcid=tGE4TAMA


PSS INDUSTRIAL: Moody's Cuts CFR to Caa2 & Alters Outlook to Neg.
-----------------------------------------------------------------
Moody's Investors Service downgraded PSS Industrial Group Corp.'s
Corporate Family Rating to Caa2 from B3, Probability of Default
Rating (PDR) to Caa2-PD from B3-PD, and senior secured first lien
debt ratings to Caa2 from B3. The outlook was changed to negative
from stable.

"PSSI's rating downgrade reflects our view that liquidity is weak
as well as significant EBITDA contraction driving high leverage and
poor debt service coverage as the company contends with midstream
project delays and reduced customer spending," said Jonathan
Teitel, a Moody's analyst.

Downgrades:

Issuer: PSS Industrial Group Corp.

Probability of Default Rating, Downgraded to Caa2-PD from B3-PD

Corporate Family Rating, Downgraded to Caa2 from B3

Senior Secured 1st Lien Term Loan, Downgraded to Caa2 (LGD3) from
B3 (LGD3)

Senior Secured 1st Lien Revolving Credit Facility, Downgraded to
Caa2 (LGD3) from B3 (LGD3)

Outlook Actions:

Issuer: PSS Industrial Group Corp.

Outlook, Changed To Negative From Stable

RATINGS RATIONALE

PSSI's Caa2 CFR reflects elevated leverage, poor debt service
coverage and weak liquidity amid the challenging operating
environment that Moody's expects to persist into 2021. Moody's
anticipates PSSI's debt/EBITDA will rise above 10x by the end of
2020 while debt service coverage is below 1x. PSSI would likely be
in violation of its credit facilities' minimum debt service
coverage ratio requirement for the third quarter of 2020 and is
seeking temporary financial covenant relief from lenders. The
company has proposed amending its minimum debt service coverage
ratio (DSCR) to a minimum liquidity covenant through 2021. Among
other amendments proposed by the company are the addition of PIK
interest and the waiver of the excess cash flow sweep for 2020.
While the amendments as requested by the company would provide
further runway, Moody's expects PSSI will draw down cash on the
balance sheet and that further financial covenant relief will be
needed by early 2022.

Providing support to PSSI's revenue are sales derived from
customers' maintenance, repair, and overhaul activities. PSSI's
national footprint and large product offering enable it to serve a
variety of customer needs. To contend with the challenging
operating conditions, PSSI has reduced costs by closing and
consolidating certain facilities, and reduced labor costs. Against
the challenging industry backdrop, key to revenue growth in 2021
will be successful execution on organic growth initiatives, the
addition of new customers, increased customer wallet share, and
midstream pipeline projects moving forward. However, even with such
success, Moody's expects EBITDA growth will be constrained by the
market environment leaving credit metrics, weak. Some new pipeline
construction projects have been pushed back because of permitting
delays in part because of opposition to pipelines—a social risk.

PSSI's $50 million first lien revolver due 2024 and $285 million
first lien term loan due 2025 (amount outstanding as of June 30,
2020) are rated Caa2, at the same level as the CFR, reflecting that
they comprise the sole debt in the capital structure.

The negative outlook reflects risks to PSSI from a highly leveraged
balance sheet, poor debt service coverage and weak liquidity
including the potential for needing further covenant relief.

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

Factors that could lead to a downgrade include weakening liquidity
or rising default risk.

Factors that could lead to an upgrade include improved liquidity,
significant EBITDA growth in an improving industry environment, and
correspondingly lower leverage and increased debt service
coverage.

PSSI, headquartered in Houston, Texas, is a distributor of products
to customers in the energy and industrial sectors. PSSI is a
portfolio company of funds affiliated with the Goldman Sachs'
Merchant Banking Division. Revenue for the twelve months ended June
30, 2020 was roughly $300 million.

The principal methodology used in these ratings was Global Oilfield
Services Industry Rating Methodology published in May 2017.


PUT 'R UP: Seeks to Hire Bruner Wright as Counsel
-------------------------------------------------
Put 'R Up Inc seeks authority from the US Bankruptcy Court for the
Northern District of Florida to hire Bruner Wright, P.A. to
represent it in this Chapter 11 bankruptcy case.

Bruner Wright's hourly rates are:

     Robert C. Bruner               $400
     Byron Wright III               $300
     Thomas Woodward                $400
     Paralegal                      $150

The firm received from Debtor a sum of $10,000 as retainer.

Byron Wright III, Esq., a member of Bruner Wright, disclosed in
court filings that he does not represent any interest adverse to
Debtor.

The firm can be reached through:

     Byron Wright III, Esq.        
     Bruner Wright, P.A.        
     2810 Remington Green Circle        
     Tallahassee, FL 32308         
     Telephone: (850) 385-0342
     Facsimile: (850) 270-2441
     Email: twright@brunerwright.com

                      About Put 'R Up Inc

Put 'R Up Inc is proud to be a Veteran owned, Florida Licensed
General and Roofing Contractor with over 35 years of experience in
both commercial and residential renovations and building.

Based in Panama City, Florida, Put 'R Up Inc filing a petition for
relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Fla.
Case No. 20-50116) on Sep. 11, 2020. At the time of filing, the
Debtor estimated  $50,000 in assets and $500,001 to $1 million in
liabilities. Robert C. Bruner, Esq. at Bruner Wright, P.A.
represents the Debtor as counsel.


PYXUS INTERNATIONAL: Emerges from Chapter 11 Bankruptcy
-------------------------------------------------------
Pyxus International, Inc., a global value-added agricultural
company, announced Aug. 24, 2020, that the Amended Joint
Prepackaged Chapter 11 Plan of Reorganization of Pyxus
International, Inc. and Its Affiliated Debtors (the "Plan")
confirmed by the United States Bankruptcy Court for the District of
Delaware on August 21, 2020 has become effective. As a result,
Pyxus has successfully completed its financial restructuring and
emerged from Chapter 11 with its debt reduced by more than $400
million and maturities extended.  

"Over the last two months, we have been keenly focused on enhancing
the Company's financial flexibility, and the completion of our
financial restructuring process is a significant step forward,"
said Pieter Sikkel, Pyxus' President and CEO. "We are now a
stronger and more competitive company with a foundation that
bolsters our position in targeted markets and enables us to drive
long-term value for all of our stakeholders. I want to thank our
exceptional team at Pyxus for their commitment and continued focus
through this process. We are also grateful for the support of our
vendors, suppliers, customers and partners and we look forward to
working together for years to come."

Under the terms of the Plan, Pyxus has completed a comprehensive
balance sheet restructuring that includes but is not limited to
extending the maturity of its existing first lien debt, eliminating
$635 million in principal amount of existing second lien debt,
while adding a $213 million exit term loan, which replaced the
debtor-in-possession financing incurred in connection with the
Chapter 11 cases, and a $75 million exit asset based revolving
facility. The elimination of the second lien debt and access to new
working capital lines of credit, including foreign credit
facilities, substantially strengthens the Company's balance sheet.

Pursuant to the Plan, in connection with the effectiveness of the
Plan, a series of corporate transactions were completed which
resulted in the Company being a new corporation renamed Pyxus
International, Inc., which through its subsidiaries continues to
operate the Company's businesses, while the corporation formerly
known as Pyxus International, Inc. has changed its name to Old
Holdco, Inc.  Upon the effectiveness of the Plan, all outstanding
shares of Old Holdco, Inc. were cancelled.

The investment in the Company's exit term loan facility is being
led by Glendon Capital Management L.P. and Monarch Alternative
Capital LP. Collectively, Monarch and Glendon will own a majority
of the new equity in the Company.

In accordance with the Plan, the Company's board of directors is
comprised of three members, consisting of Mr. Sikkel, along with
Patrick Fallon, Principal at Monarch, and Holly Kim, Partner at
Glendon.

"We see tremendous opportunity for a delevered Pyxus," said Ms.
Kim. "We are excited to work with the management team going forward
to unlock the Company's full potential."

Simpson Thacher & Bartlett LLP served as legal counsel, and Lazard
and RPA Advisors served as financial advisors to Pyxus.

                   About Pyxus International

Pyxus International Inc. -- http://www.pyxus.com/-- is a global
agricultural company with 145 years of experience delivering
value-added products and services to businesses, customers and
consumers.

Pyxus reported a net loss of $71.17 million for the year ended
March 31, 2019, compared to net income of $51.91 million for the
year ended March 31, 2018. As of March 31, 2019, Pyxus had $1.86
billion in total assets, $1.67 billion in total liabilities, and
$192.02 million in total stockholders' equity.

On June 15, 2020, Pyxus and its affiliates sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Lead Case No.
20-11570).  Judge Laurie Selber Silverstein oversees the cases.

The Debtors tapped Simpson Thacher & Bartlett, LLP as general
bankruptcy counsel; Young Conaway Stargatt & Taylor, LLP as
Delaware bankruptcy counsel; and Lazard Freres & Co. LLC and RPA
Advisors, LLC as restructuring advisors. Prime Clerk, LLC is
theclaims and noticing agent and administrative advisor.


PYXUS INTERNATIONAL: Joint Prepackaged Plan Confirmed by Judge
--------------------------------------------------------------
Judge Laurie Selber Silverstein has entered findings of fact,
conclusions of law and order approving Disclosure Statement and
confirming the Amended Joint Prepackaged Plan of Reorganization of
Pyxus International, Inc. and its Affiliated Debtors.

The Plan satisfies all the requirements for confirmation, including
those set forth in Section 1129 of the Bankruptcy Code.

The Plan was solicited in good faith and in compliance with
applicable provisions of the Bankruptcy Code, Bankruptcy Rules, and
the Scheduling Order. The Exculpated Parties and the parties to the
Restructuring Support Agreement participated in good faith and in
compliance with the applicable provisions of the Bankruptcy Code in
the offer, issuance, sale, solicitation and/or purchase of the
securities offered under the Plan.

The terms of the Plan (including all transactions and documents
necessary to effectuate the Plan) were negotiated at arm’s length
among the Debtors, the Consenting Noteholders, and their respective
advisors and are in the best interests of the Debtors, the
Reorganized Debtors, the Debtors’ Estates and the Holders of
Claims and Interests and other parties in interest.

A full-text copy of the Plan Confirmation Order dated August 21,
2020, is available at https://tinyurl.com/yxq2alnu from
PacerMonitor at no charge.

                   About Pyxus International

Pyxus International Inc. -- http://www.pyxus.com/-- is a global
agricultural company with 145 years of experience delivering
value-added products and services to businesses, customers and
consumers.

Pyxus reported a net loss of $71.17 million for the year ended
March 31, 2019, compared to net income of $51.91 million for the
year ended March 31, 2018. As of March 31, 2019, Pyxus had $1.86
billion in total assets, $1.67 billion in total liabilities, and
$192.02 million in total stockholders' equity.

On June 15, 2020, Pyxus and its affiliates sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Lead Case No.
20-11570).  Judge Laurie Selber Silverstein oversees the cases.

The Debtors tapped Simpson Thacher & Bartlett, LLP as general
bankruptcy counsel; Young Conaway Stargatt & Taylor, LLP as
Delaware bankruptcy counsel; and Lazard Freres & Co. LLC and RPA
Advisors, LLC as restructuring advisors. Prime Clerk, LLC is the
claims and noticing agent and administrative advisor.


QUIRCH FOODS: S&P Assigns 'B' Issuer Credit Rating; Outlook Stable
------------------------------------------------------------------
S&P Global Ratings assigned 'B' issuer credit rating and 'B'
issue-level rating to U.S.-based Quirch Foods Holdings LLC proposed
$475 million term loan. The $200 million revolver will remain
unrated.

Quirch Foods and financial sponsor Palladium Equity Partners have
agreed to acquire Colorado Boxed Beef Co. (CBBC). Quirch plans to
raise $675 million in senior secured facilities to fund the
transaction and refinance existing debt.

Quirch's CBBC acquisition adds distribution facilities and
private-label brands, offsetting challenges amid certain end
customers.   CBBC is a slightly larger business than Quirch by
latest-twelve month sales and EBITDA, and we believe the
combination will produce synergies and allow for expansion into
high-growth markets including the further penetration of the ethnic
grocery channel. S&P notes this acquisition comes shortly after
Quirch's Butts Foods acquisition that closed May 2020.

S&P said, "We see benefits for Quirch in growing into adjacent
states like Texas and Pennsylvania, with further national reach
through a seafood purchasing presence in the Bay area. We also
believe there is solid diversification across customers and
products, with the top five customers comprising only 8% of the
combined sales base."

"That said, pro forma for the acquisition, the company would have
foodservice, cruises, and export end customers in Latin America as
about 35% of its base. All three areas continue to face pressure
amid the COVID-19 pandemic and have seen sales declines this year.
While there are signs of rebound in some of those segments, S&P
will be watching closely as Quirch navigates the coming year's
added debt load on top of a challenging and unpredictable global
protein distribution environment."

"We expect adjusted leverage in the low-6x area pro forma for this
transaction, declining to the high-5x area over the next one to two
years, with funds from operations (FFO) to debt remaining in the
10%-11% range.   Since announcing its Quirch acquisition in
December 2018, Palladium deleveraged the business, mainly through
EBITDA growth and modest debt reduction. The sponsor is now
releveraging the business to finance this CBBC acquisition, which
we view as aggressive despite the operating benefits of added
scale."

Management cites commodity market volatility, inventory
obsolescence,and working capital fluctuations as among key risks.
S&P believes its plans to mitigate these risks, for instance
maintaining a non-unionized workforce and its proprietary IQ Foods
Technology, are credible ways to navigate the coming year and
maintain consistent gross profit per pound.

CBBC has a complementary national and independent chain grocery
store customer base and similarly diversified supplier base, with
long-tenured relationships across product categories.  While S&P
expects relatively strong revenue and EBITDA growth at Quirch in
2020 driven by this acquisition, it also believes organic combined
volume growth will remain in the low-to-mid single digit percentage
range in 2021.

Since Palladium's purchase, Quirch has added six U.S. distribution
centers to its original five via its Butts acquisition and one
opening. This highlights a record of scaling rapidly that S&P
believes will be critical in absorbing CBBC successfully. CBBC has
similarly scaled from regional to national protein player in recent
years. Synergy opportunities could include footprint optimization,
route consolidation, and increased scale in purchasing along with
cost reductions.

Efforts to grow the Latin American consumer base overseas, and to
remain focused on ethnic groceries domestically, could prove
challenging given the lack of online/digital shopping capabilities
for these small mom-and-pop players that has become critical to
U.S. grocery success amid the 2020 pandemic. That said, S&P
believes these are attractive markets with a growing customer base
over the longer term.

S&P said, "Lastly, we note additional coronavirus outbreaks and
capacity limits imposed on restaurants could lead to more severe
and sustained foodservice industry declines than reflected in our
base-case forecast."

"The stable outlook reflects our expectation that the company will
utilize the CBBC acquisition to grow its position as one of the
largest protein distributors in the Southeastern U.S., the
Caribbean, and Latin America. We also see a continued focus on
owned brands in helping develop national and chain account
relationships for Quirch."

S&P could lower the rating if:

-- Adjusted debt to EBITDA approaches 7x on a sustained basis as a
result of deteriorating operating performance or a change in
financial policy.

-- Execution issues, potentially from challenges integrating CBBC,
damage Quirch's competitive position.

-- Increased competition from specialty or other regional players
impact Quirch's market niche, resulting in top-line pressure and
margin compression.

Although unlikely over the next 12 to 24 months, S&P could upgrade
Quirch if:

-- S&P develops a more favorable view of the company's competitive
position, arising from management's ability to substantially grow
the company's operations while expanding profit margins.

-- S&P expects leverage to remain below 5x based on continued
strong operating results and a more conservative financial policy.


RANDOPH HOSPITAL: Reveals New Buyer Agreement for Hospital Assets
-----------------------------------------------------------------
Tony Bolick of The Courier-Tribune reports that Randolph Health
revealed on Thursday, October 8, 2020, a new buyer for the hospital
assets and future management in the ongoing bankruptcy saga as the
medical facility works to get out of Chapter 11 bankruptcy and
continue healthcare services in Randolph County under new
management

Randolph Health's board of directors and leadership team released
the announcement Thursday, October 8, 2020, afternoon nearly a week
following the deadline for any new bidders to come forward in an
upset attempt. According to the information, multiple bidders put
in, setting off an auction process in which American Healthcare
Systems, LLC emerged as the winning bidder from that process to
acquire Randolph Health and its assets.  

This new winner replaces the prior agreement with DAVA Foundation,
Inc. to acquire the assets and Java Medical Group to manage the new
organization. That agreement was announced at the end of August
2020.

The bankruptcy approval process provided for an opportunity for
upset bids after that agreement was announced and, according to the
release, there were more than one qualifying bids to come forward.
That led to an auction process and Randolph Health CEO Angela Orth
announced that American Healthcare was the winner.

"The bankruptcy process is confidential until a winner is
determined. Today, we are pleased to share that American Healthcare
Systems, LLC, is the successful bidder," she said. "American
Healthcare Systems will acquire substantially all of Randolph
Health's operating assets and will oversee our new organization's
operations, working closely with the local leadership team."

According to the release, this new organization will bring aboard a
new board of directors with local input from local government
representatives, assures the continued operation and current
medical services being offered at Randolph Health and protecting
jobs. Much like the previous agreement, this deal will offer
Randolph Health employees and physicians the opportunity to keep
working under the new group.

This new purchase must also be approved through the bankruptcy
process. It returns to the bankruptcy courts for an Oct. 2, 20202
date in which the process and the bidders to be discussed and then
a move for the transaction to be approved to go forward. Hospital
officials are hoping for a finalized deal to be completed something
by the early part of the first quarter of 2021.

                     About Randolph Hospital

Randolph Hospital -- https://www.randolphhealth.org/ -- operates as
a hospital that provides inpatient and outpatient services in North
Carolina.  The hospital offers, among other services, cancer care,
imaging, maternity services, cardiac services, surgical services,
outpatient specialty clinics, rehabilitation services, and
emergency services.

Randolph Hospital, Inc. and its affiliates, MRI of Asheboro, LLC
and Randolph Specialty Group Practice, each filed a voluntary
petition for relief under chapter 11 of the Bankruptcy Code (Bankr.
M.D.N.C. Lead Case No. 20-10247) on March 6, 2020.  In the petition
signed by CRO Louis E. Robichaux IV, Randolph Hospital was
estimated to have $100 million to $500 million in both assets and
liabilities. The Debtor is represented by Jody A. Bedenbaugh, Esq.,
and Graham S. Mitchell, Esq., at Nelson Mullins Riley &
Scarborough
LLP.

William Miller, the bankruptcy administrator for the U.S.
Bankruptcy Court for the Middle District of North Carolina,
appointed a committee to represent unsecured creditors in the
Chapter 11 cases. The committee retained Spilman Thomas & Battle,
PLLC as counsel; Sills Cummis & Gross, P.C., as co-counsel; and
Gibbins Advisors, LLC, as financial advisor.

Melanie L. Cyganowski was appointed as patient care ombudsman in
Debtors' bankruptcy cases.  The PCO is represented by Otterbourg
P.C.


REAL ESTATE RECOVERY: Case Summary & 4 Unsecured Creditors
----------------------------------------------------------
Debtor: Real Estate Recovery Mission
        200 South Garfield Ave., Ste. 208C
        Alhambra, CA 91801

Business Description: Real Estate Recovery Mission is a tax-exempt
                      real estate agency in Alhambra, California.

Chapter 11 Petition Date: October 7, 2020

Court: United States Bankruptcy Court
       Central District of California

Case No.: 20-19134

Judge: Hon. Vincent P. Zurzolo

Debtor's Counsel: Michael Jay Berger, Esq.
                  LAW OFFICES OF MICHAEL JAY BERGER
                  9454 Wilshire Boulevard, 6th Floor
                  Beverly Hills, CA 90212
                  Tel: (310) 271-6223
                  Email: michael.berger@bankruptcypower.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $500,000 to $1 million

The petition was signed by Tad Dionizy Sikora, director.

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

https://www.pacermonitor.com/view/ZK5IXHA/Real_Estate_Recovery_Mission__cacbke-20-19134__0001.0.pdf?mcid=tGE4TAMA


ROCHESTER DRUG COOP: Berger Montague Drops Case Representation
--------------------------------------------------------------
Law360 reports that Berger Montague agreed to drop its
representation of Rochester Drug Cooperative Inc. in antitrust
litigation over the cholesterol drug Lipitor, following another
drug wholesaler's assertion that Rochester's recently filed
bankruptcy creates potential conflicts in the long-running case.

In a letter filed in New Jersey federal court Aug. 20, 2020, Berger
Montague said it disagreed with drug wholesaler Cesar Castillo
LLC's conflict argument, but that it would withdraw from the case
to stave off more legal arguments. The letter came in response to
Cesar Castillo's bid to add Carella Byrne Cecchi Olstein Brody &
Agnello PC as additional interim co-lead class counsel.

              About Rochester Drug Co-Operative

Rochester Drug Cooperative, Inc., is an independently owned New
York cooperative corporation formed in 1905 and incorporated in
1948 with a principal office and place of business located at 50
Jet View Drive, Rochester, New York 14624. Its principal business
is to warehouse, merchandise, and then distribute, on a cooperative
basis, drugs, pharmaceutical supplies, medical equipment and other
merchandise commonly sold in drug stores, pharmacies, health and
beauty stores, and durable medical equipment business. It is a
wholesale regional drug cooperative that operates as both a buying
cooperative and a traditional drug distribution company created for
the purpose of helping independent pharmacies compete in the
current healthcare environment.

Rochester Drug Cooperative sought Chapter 11 protection (Bankr.
W.D.N.Y. Case No. 20-20230) on March 12, 2020, for the purpose of
winding-down the Debtor's operations and liquidating its assets.
The Debtor was estimated to have $50 million to $100 million in
assets and $100 million to $500 million in liabilities.

The Hon. Paul R. Warren is the case judge.

The Debtor tapped Bond, Schoeneck & King, PLLC, led by Stephen A.
Donato, as counsel and Epiq Corporate Restructuring, LLC as the
claims and noticing agent.


ROUGH COUNTRY: S&P Affirms 'B' ICR on Debt-Financed Dividend
------------------------------------------------------------
S&P Global Ratings affirmed its 'B' issuer credit rating and
issue-level ratings on U.S.-based Rough Country LLC. At the same
time, S&P revised its recovery rating on its senior secured debt to
'4' from '3' to indicate its expectation for average recovery
(30%-50%; rounded estimate: 45%) in a default scenario.

S&P said, "The stable outlook on Rough Country reflects our
expectation that it will maintain above-average EBITDA margins,
enabling it to generate a free operating cash flow (FOCF)-to-debt
ratio of more than 5%."

The affirmation and stable outlook reflect its expectation that
Rough Country will continue to generate relatively stable free cash
flow despite the increase in its debt.  Rough Country plans to use
the proceeds from its $180 million fungible incremental first-lien
term loan, along with cash on hand, to pay a dividend to its
shareholders. The transaction will also extend the maturities of
its existing revolving credit facility and first-lien term loan by
two years to 2024 and 2025, respectively.

S&P said, "Pro forma for the transaction, we expect the company's
debt to EBITDA on and S&P adjusted basis to increase to roughly
5.0x in 2020 from the 3.0x-3.5x range previously, which we believe
will eliminate the relative strength of its balance sheet compared
with those of most other sponsor-owned auto suppliers. Still, given
Rough Country's relatively low fixed-cost structure, we expect it
to generate a FOCF-to-debt ratio of nearly 10%, which will help it
offset the elevated risk inherent in its more-aggressive financial
policy stance."

"The stable outlook on Rough Country reflects our expectation that
it will maintain above-average EBITDA margins, enabling it to
generate a FOCF-to-debt ratio of more than 5%."

"We could lower our ratings on Rough Country if it shifts its
financial policy to accommodate more aggressive credit metrics,
including debt to EBITDA remaining above 5x and a FOCF-to-debt
ratio sustained below 5%. This could occur because of material
acquisitions, further dividends to its shareholders, or an
underperformance due to weaker-than-expected consumer demand for
its products because of a deteriorating economic environment or a
sharp increase in gas prices that limits consumer discretionary
spending. This could also occur because of increased competition or
rising commodity prices."

"We would consider upgrading Rough Country if it materially
increases its scale and the diversity of its products while
reducing its reliance on discretionary consumer spending. In
addition, we would expect its financial sponsor to commit to a
financial policy that would allow the company to maintain a lower
level of leverage on a sustained basis."


RUBY TUESDAY: Goldman, TCW to Take Over Absent Bids
---------------------------------------------------
Jeremy Hill of Bloomberg News reports that the bankrupt parent of
Ruby Tuesday will try to sell the restaurant chain during its
Chapter 11 case, a lawyer for the company says in court Thursday,
October 8, 2020.

Lending units of Goldman Sachs and TCW Group are prepared to take
over the business if no buyer emerges, says the lawyer, Richard
Pachulski of Pachulski Stang Ziehl & Jones.

Ruby Tuesday will seek to close some locations during bankruptcy,
keeping between 175 and 200 open, compared with the 236 open now,
Pachulski says.

                      About Ruby Tuesday Inc.

Founded in 1972 in Knoxville, Tennessee, Ruby Tuesday, Inc. --
http://www.rubytuesday.com/-- is dedicated to delighting guests
with exceptional casual dining experiences that offer
uncompromising quality paired with passionate service every time
they visit. From signature handcrafted burgers to the farm-grown
goodness of the Endless Garden Bar, Ruby Tuesday is proud of its
long-standing history as an American classic and international
favorite for nearly 50 years.  The Company currently owns, operates
and franchises casual dining restaurants in the United States,
Guam, and five foreign countries under the Ruby Tuesday® brand.

On Oct. 7, 2020, Ruby Tuesday, Inc., and 50 affiliates sought
Chapter 11 protection. The lead case is In re RTI Holding Company,
LLC (Bankr. D. Del. Lead Case No. 20-12456).

Ruby Tuesday was estimated to have $100 million to $500 million in
assets as of the bankruptcy filing.

The Hon. John T. Dorsey is the case judge.

Ruby Tuesday is advised by Pachulski Stang Ziehl & Jones LLP as
legal counsel, CR3 Partners, LLC, as financial advisor, FocalPoint
Securities, LLC, as investment banker, and Hilco Real Estate, LLC,
as lease restructuring advisor.  Epiq is the claims agent,
maintaining the page https://dm.epiq11.com/RubyTuesday


RUBY TUESDAY: Lines Up $18.5M Bankruptcy Loan, Lays Out Sale Plans
------------------------------------------------------------------
Maria Chutchian of Reuters reports that Ruby Tuesday has lined up
an $18.5 million bankruptcy financing facility provided by existing
lenders, who have also agreed to make a bid to acquire the casual
dining chain's business.

The company announced the financing in court papers on Thursday,
shortly before its lawyers appeared for its first bankruptcy court
hearing since filing for Chapter 11 on Wednesday. During Thursday's
hearing, U.S. Bankruptcy Judge John Dorsey in Wilmington, Delaware,
allowed Ruby Tuesday to make payments to employees and utilities
providers to keep operations running during its bankruptcy.  The
company's lawyers at Pachulski Stang Ziehl & Jones will return for
another hearing on Friday to seek approval of the bankruptcy loan.

                        About Ruby Tuesday

Founded in 1972 in Knoxville, Tennessee, Ruby Tuesday, Inc. --
http://www.rubytuesday.com/-- is dedicated to delighting guests
with exceptional casual dining experiences that offer
uncompromising quality paired with passionate service every time
they visit. From signature handcrafted burgers to the farm-grown
goodness of the Endless Garden Bar, Ruby Tuesday is proud of its
long-standing history as an American classic and international
favorite for nearly 50 years.  The Company currently owns, operates
and franchises casual dining restaurants in the United States,
Guam, and five foreign countries under the Ruby Tuesday brand.

On Oct. 7, 2020, Ruby Tuesday, Inc., and 50 affiliates sought
Chapter 11 protection.  The lead case is In re RTI Holding Company,
LLC (Bankr. D. Del. Lead Case No. 20-12456).

Ruby Tuesday was estimated to have $100 million to $500 million in
assets as of the bankruptcy filing.

The Hon. John T. Dorsey is the case judge.

Ruby Tuesday is advised by Pachulski Stang Ziehl & Jones LLP as
legal counsel, CR3 Partners, LLC, as financial advisor, FocalPoint
Securities, LLC, as investment banker, and Hilco Real Estate, LLC,
as lease restructuring advisor.  Epiq is the claims agent,
maintaining the page https://dm.epiq11.com/RubyTuesday


SAVOY FINANCIAL: Seeks to Hire Bankruptcy Attorney
--------------------------------------------------
Savoy Financial Spendthrift Trust seeks authority from the US
Bankruptcy Court for the Eastern District of Texas to hire an
attorney.

The Debtor wishes to employ Martin Frankel, Attorney at Law, as its
counsel.

The Debtor requires the counsel to:

     a. analyse the Debtor's financial situation ans render advice
in determining whether to file a petition in bankruptcy;

     b. prepare and file any petition, schedules, statement of
affairs and plan which may be required;

     c. represent the Debtor at the meeting of creditors and
confirmation hearing, and any adjourned hearings thereof;

     d. represent the Debtor in adversary proceedings and other
contested bankruptcy matters.

Payment for legal services has a maximum cap of $20,000.

There are no parties in interest that has a connection with the
counsel, according to court filings.

The counsel can be reached at:

     Martin Frankel, Attorney at Law
     4829 Westgrove Drive, Suite 3111
     Addison, TX 75001
     Phone: 682-347-9433
     E-mail: martinfrankel@yahoo.com

                  About Savoy Financial Spendthrift Trust

Savoy Financial Spendthrift Trust filed a voluntary petition under
Chapter 11 of the Bankruptcy Code (Bankr. E.D. Tex. Case No.
20-41841) on August 28, 2020. At the time of filing, the Debtor
estimated $500,001 to $1 million in assets and $100,001 to $500,000
in liabilities. Martin Frankel, Attorney at Law, is the Debtor's
counsel.


SCIENTIFIC GAMES: Inks 7th Amendment to Credit Agreement
--------------------------------------------------------
Scientific Games Corporation entered into Amendment No. 7 to that
certain Credit Agreement, dated as of Oct. 18, 2013, by and among
the Company, Scientific Games International, Inc., a wholly owned
subsidiary of the Company the several banks and other financial
institutions or entities from time to time party thereto and Bank
of America, N.A., as administrative agent, collateral agent,
issuing lender and swingline lender.

The requisite lenders under the Company's revolving credit facility
have previously amended, among other things, the consolidated net
first lien leverage ratio covenant in the Credit Agreement to (a)
implement a financial covenant relief period through the end of the
first quarter ending March 31, 2021, as a result of which SGI is
not required to maintain compliance with the otherwise applicable
consolidated net first lien leverage ratio covenant during the
Covenant Relief Period, (b) reset the consolidated net first lien
leverage ratio covenant following the Covenant Relief Period, (c)
impose a minimum liquidity requirement (excluding SciPlay
Corporation, a subsidiary and business segment of the Company) of
at least $275 million during the Covenant Relief Period, (d)
further restrict the Company's ability to incur indebtedness and
liens, make restricted payments and investments and prepay junior
indebtedness during the Covenant Relief Period, subject to certain
exceptions and further subject, in some instances, to maintaining
minimum liquidity (excluding SciPlay) of at least $400 million and
(e) establish a LIBOR floor of 0.500% on borrowings under the
revolving credit facility during the Covenant Relief Period.

Amendment No. 7 further extends the Covenant Relief Period for an
additional three quarters.  The revised consolidated net first lien
leverage ratio will be 6.00x Consolidated EBITDA beginning with the
fiscal quarter ending March 31, 2022, stepping down as follows: (1)
5.75x beginning with the third quarter of 2022, (2) 5.25x beginning
with the first quarter of 2023, (3) 4.75x beginning with the third
quarter of 2023 and (4) 4.50x beginning with the first quarter of
2024 and thereafter.  The revised consolidated net first lien
leverage ratio is based on Consolidated EBITDA (as defined in
Amendment No. 7) as follows: (1) for the testing period ending
March 31, 2022, Consolidated EBITDA for the fiscal quarter ending
March 31, 2022 multiplied by 4, (2) for the testing period ending
June 30, 2022, Consolidated EBITDA for the fiscal quarters ending
March 31, 2022 and June 30, 2022 multiplied by 2, (3) for the
testing period ending Sept. 30, 2022, Consolidated EBITDA for the
fiscal quarters ending March 31, 2022, June 30, 2022 and Sept. 30,
2022 multiplied by 4/3 and (4) for all subsequent testing periods,
Consolidated EBITDA for the previous twelve months including the
quarter for the which the test is performed.

                     About Scientific Games

Based in Las Vegas, Nevada, Scientific Games Corporation
(NASDAQ:SGMS) -- http://www.scientificgames.com/-- is a developer
of technology-based products and services and associated content
for the worldwide gaming, lottery, social and digital gaming
industries.  Its portfolio of revenue-generating activities
primarily includes supplying gaming machines and game content,
casino-management systems and table game products and services to
licensed gaming entities; providing instant and draw-based lottery
products, lottery systems and lottery content and services to
lottery operators; providing social casino solutions to retail
consumers and regulated gaming entities, as applicable; and
providing a comprehensive suite of digital RMG and sports wagering
solutions, distribution platforms, content, products and services.

Scientific Games reported a net loss of $118 million for the year
ended Dec. 31, 2019, compared to a net loss of $352 million for the
year ended Dec. 31, 2018.  As of June 30, 2020, the Company had
$7.84 billion in total assets, $10.32 billion in total liabilities,
and a total stockholders' deficit of $2.48 billion.


SEADRILL LTD: CFO Stuart Jackson Replaces Dibowitz as CEO
---------------------------------------------------------
The Board of Seadrill Limited (OSE:SDRL, OTCQX:SDRLF) announced
Oct. 1, 2020, the appointment of Stuart Jackson as Chief Executive
Officer.

Stuart Jackson, currently Chief Financial Officer, will succeed
Anton Dibowitz as Chief Executive Officer with immediate effect.

Following Stuart's appointment, the role and responsibilities of
the Chief Financial Officer will be divided into two new roles:
Grant Creed will become Chief Restructuring Officer and Neil
Gilliver will become Chief Accounting Officer

Glen Ole Rodland, Chairman, commented, "On behalf of the Board, I
would like to recognize the significant contribution Anton has made
to Seadrill during 12 years with the Company, heading our
commercial activities for many years and for the past three years
as Chief Executive Officer. He has provided strong leadership in
challenging market conditions; we thank him and wish him well in
his future endeavors.  Anton is standing down as Chief Executive
Officer with immediate effect but will remain as an advisor to the
company until the end of Q1 2021.

Stuart has consistently been a strong advocate for addressing the
broader industry issues summarized in having too many rigs and too
much debt. With a strong restructuring and transaction-based
experience across the energy sector, the Board view Stuart as the
ideal candidate for the next phase of Seadrill's development."

Seadrill's strategy is to restructure its balance sheet and
radically change our operational model and cost level.  The energy
market is changing and so must Seadrill.  The strengthening of the
financial organization with the promotion of Grant and Neil should
be viewed within this context, and we welcome them to their new
roles."

Stuart Jackson, Chief Executive Officer, commented: "We are in a
new market and we must adapt and adjust. This means eliminating the
carrying costs of assets which will never return to the market,
addressing the cost base of productive assets and all delivered
within a simplified organizational structure.

Achieving this alongside establishing a long term, sustainable
capital structure will see Seadrill well placed to participate in
the industry consolidation that is well overdue. We are looking
forward to tomorrow but recognize the challenge of today."

                      Stuart Jackson Bio

Stuart has over 35 years’ experience in leadership roles in the
energy sector and joined Seadrill in 2019. Stuart has extensive
strategic and restructuring expertise, driving business performance
and growth. An internationally experienced executive director,
Stuart has lived and worked in Europe, North Africa, and the Far
East. He has held Chief Executive and senior leadership roles,
including Power Station Management, throughout his career. In the
role of Chief Financial Officer Stuart has worked in listed
companies (NYSE, NASDAQ, LSE, OSE and AIM markets), private equity
and family owned environments. Stuart will bring his strong track
record as Chief Financial Officer to the role of Chief Executive
Officer at Seadrill.

                        Grant Creed Bio

Grant has served with Seadrill for over seven years and most
recently has been a significant contributor in Seadrill's capital
restructuring project team working alongside Stuart.  Grant played
an instrumental part in developing Seadrill's Joint Venture
activities, specifically with Sonadrill and Gulfdrill.  In addition
to his restructuring responsibilities Grant will maintain oversight
of treasury operations and tax structuring.

                      Neil Gilliver Bio

Neil has worked as Group Financial Controller at Seadrill since
2018 during which time he took Seadrill through its fresh start
accounting following the 2018 Chapter 11 process, he has enhanced
the discipline around financial reporting and focused on an
improvement of our governance environment.  Neil will play an
instrumental part in upgrading our systems and process and ensuring
a project-based focus is applied to internal and external project
delivery.  

                      About Seadrill Ltd.

Seadrill Limited (OSE:SDRL, OTCQX:SDRLF) --
http://www.seapdrill.com/-- is a deepwater drilling contractor
providing drilling services to the oil and gas industry.  As of
March 31, 2018, it had a fleet of over 35 offshore drilling units
that include 12 semi-submersible rigs, 7 drillships, and 16 jack-up
rigs.

On Sept. 12, 2017, Seadrill Limited sought Chapter 11 protection
after reaching terms of a reorganization plan that would
restructure $8 billion of funded debt.  It emerged from bankruptcy
in July 2018.

Demand for exploration and drilling has fallen further during the
COVID-19 pandemic as oil firms seek to preserve cash, idling more
rigs and leading to additional overcapacity among companies serving
the industry.

In June 2020, Seadrill wrote down the value of its rigs by $1.2
billion and said it planned to scrap 10 rigs.

Seadrill is presently in talks with lenders on a restructuring of
its $5.7 billion bank debt.


SEADRILL LTD: Extends Forbearance Agreements to Oct. 31
-------------------------------------------------------
Seadrill Limited (OSE:SDRL, OTCQX:SDRLF) announced Sept. 29, 2020,
that it has agreed to extend and/or renew the existing forbearance
agreements with certain creditors, announced on 15 September 2020,
in respect of the group's senior secured credit facility
agreements, senior secured notes, and guarantee facility
agreement.

Pursuant to the forbearance agreements, as extended, the consenting
creditors have agreed not to exercise any voting rights to, or
otherwise take actions, in respect of certain events of default
that may arise under the  senior secured credit facility
agreements, senior notes and guarantee facility agreement as a
result of the group not making certain interest and charter hire
payments under the group's senior secured credit agreements and
leasing arrangements, until and including the earlier of 31 October
2020 and any termination of the forbearance agreements.

Forbearance has not yet been agreed with respect to certain
defaults that may arise under the Company's leasing agreements in
respect of the West Hercules, West Linus and West Taurus.  Without
a forbearance in respect of these leasing agreements, non-payment
of charter hire and interest could result in enforcement of a
default or cross-default under such leasing agreements.

The purpose of the forbearance agreements continues to be to allow
the Company and its stakeholders more time to negotiate on the head
terms of a comprehensive restructuring of its balance sheet.  Such
a restructuring may involve the use of a court-supervised process.
The Company continues to evaluate capital structure proposals from
its financial stakeholders; whilst no agreement has been reached at
this point it is expected that potential solutions will lead to
significant equitization of debt which is likely to result in
minimal or no recovery for current shareholders.

                      About Seadrill Ltd.

Seadrill Limited (OSE:SDRL, OTCQX:SDRLF) --
http://www.seapdrill.com/-- is a deepwater drilling contractor
providing drilling services to the oil and gas industry.  As of
March 31, 2018, it had a fleet of over 35 offshore drilling units
that include 12 semi-submersible rigs, 7 drillships, and 16 jack-up
rigs.

On Sept. 12, 2017, Seadrill Limited sought Chapter 11 protection
after reaching terms of a reorganization plan that would
restructure $8 billion of funded debt.  It emerged from bankruptcy
in July 2018.

Demand for exploration and drilling has fallen further during the
COVID-19 pandemic as oil firms seek to preserve cash, idling more
rigs and leading to additional overcapacity among companies serving
the industry.

In June 2020, Seadrill wrote down the value of its rigs by $1.2
billion and said it planned to scrap 10 rigs.

Seadrill is presently in talks with lenders on a restructuring of
its $5.7 billion bank debt.


SHILOH INDUSTRIES: Hires Houlihan Lokey as Investment Banker
------------------------------------------------------------
Shiloh Industries, Inc., and its debtor-affiliates seek authority
from the U.S. Bankruptcy Court for the District of Delaware to
employ Houlihan Lokey Capital, Inc., as investment banker to the
Debtors.

Shiloh Industries requires Houlihan Lokey to:

   (a) assist the Debtor in the development and distribution of
       selected information, documents and other material in an
       effort to create an interest in and to consummate any
       restructuring, financing and/or sale transaction(s),
       including, if appropriate, advising the Debtors in the
       preparation of an offering memorandum;

   (b) solicit and assist the Debtors in evaluating indications
       of interest and proposals regarding any restructuring,
       financing and/or sale transaction(s) from current and/or
       potential lenders and/or other counterparties;

   (c) assist the Debtors with the development, structuring,
       negotiation and implementation of any restructuring,
       financing and/or sale transaction(s), including
       participating in negotiations with creditors and other
       parties involved in any such transaction(s) and evaluation
       of any forward looking impact thereof;

   (d) provide expert advice and testimony regarding financial
       matters related to any restructuring, financing and/or
       sale transaction(s), if necessary;

   (e) advise, attend and present in meetings of the Debtors'
       board of directors, creditor groups, official
       constituencies and other interested parties, as the Debtor
       and Houlihan Lokey determine to be necessary or desirable;
       and

   (f) provide such other financial advisory and investment
       banking services requested by the Debtors as may be
       required by additional issues and developments not
       currently anticipated.

Houlihan Lokey will be paid as follows:

   (a) Initial Fee: The Debtors have paid a nonrefundable cash
       fee of $150,000 in consideration of Houlihan Lokey
       accepting this engagement ("Initial Fee").

   (b) Monthly Fees: In addition to the other fees provided for
       in the Engagement Letter, upon the first monthly
       anniversary of the effective date thereof, and on every
       monthly anniversary thereafter during the term of the
       Engagement Letter, the Debtors have or shall, as
       applicable pay Houlihan Lokey in advance, without notice
       or invoice, a nonrefundable cash fee of $150,000 ("Monthly
       Fee").

       Each Monthly Fee shall be earned upon the Firm's receipt
       thereof in consideration of the Firm accepting the
       engagement and performing Services. Fifty percent of the
       Monthly Fees previously paid to the Firm after the sixth
       (6th) month shall be credited against any Transaction Fee
       to which the Firm becomes entitled hereunder (it being
       understood and agreed that no Monthly Fee shall be
       credited more than once), except that, in no event, shall
       such Transaction Fee be reduced below zero.

   (c) Transaction Fee(s): In addition to the Initial Fee and the
       Monthly Fees provided for herein, the Debtors shall pay
       the Firm the following transaction fee(s):

       (1) Restructuring Transaction Fee. Upon the earlier to
           occur of: (A) in the case of an out-of-court
           Restructuring Transaction (as defined in the
           Engagement Letter), the closing of such Restructuring
           Transaction; and (B) in the case of an in-court
           Restructuring Transaction, the date of confirmation of
           a plan of reorganization or liquidation under chapter
           11 or chapter 7 of the Bankruptcy Code, the Firm shall
           earn a cash fee ("Restructuring Transaction Fee") of
           $3,250,000 which the Debtors shall promptly pay upon
           the approval of the payment by the applicable
           bankruptcy court;

       (2) Financing Transaction Fee. Upon the closing of each
           Financing Transaction (as defined in the Engagement
           Letter), the Firm shall earn, and the Debtors shall
           thereupon pay to the Firm immediately and directly
           from the gross proceeds of such Financing Transaction,
           as a cost of such Financing Transaction, a cash fee
           ("Financing Transaction Fee") equal to the sum of: (A)
           1% of the aggregate principal amount of any bank debt
           raised, placed or committed; (B) 3% of the aggregate
           principal amount of any other indebtedness raised,
           placed or committed; and (C) 5% of the aggregate
           amount of all equity or equity-linked securities
           (including, without limitation, convertible
           securities, preferred stock and indebtedness with
           warrants attached) placed or committed. The Financing
           Transaction Fee payable hereunder shall be subject to
           a $1,500,000 minimum.

       (3) M&A Transaction Fee. Upon the closing of a M&A
           Transaction (as defined in the Engagement Letter),
           Houlihan Lokey shall earn, and the Company shall
           thereupon pay immediately and directly from the gross
           proceeds of such M&A Transaction, as a cost of such
           M&A Transaction, a cash fee ("M&A Transaction Fee")
           based upon Aggregate Gross Consideration ("AGC", as
           defined in the Engagement Letter), calculated in the
           manner set forth below; subject, however to a minimum
           M&A Transaction Fee of $3,250,000:

                    I. For AGC up to $350 million: 1.50% of AGC,
                    plus

                    II. For AGC from $350 million to $400
                    million: 3% of such incremental AGC, plus

                    III. For AGC in excess of $400 million: 5% of
                    such incremental AGC.

           If more than one M&A Transaction is consummated,
           Houlihan Lokey shall be compensated based on the sum
           of the AGC from all M&A Transactions, subject,
           however, to a minimum M&A Transaction Fee of
           $1,750,000 for the first two M&A Transactions and
           $500,000 for any additional M&A Transactions.

During the 90 days immediately preceding the Petition Date, the
Debtors paid Houlihan Lokey $450,000 in fees and $10,886.57 in
expense reimbursements, which includes $10,000 paid as a retainer
on account of anticipated expenses. Other than as set forth herein,
Houlihan Lokey did not receive any payments from the Debtors during
the 90 days immediately preceding the Petition Date.

Within one year prior to the Petition Date, the Debtors paid
Houlihan Lokey $600,000 in fees and $10,866.57 in expense
reimbursements.

Houlihan Lokey will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Reid Snellenbarger, partner of Houlihan Lokey Capital, Inc.,
assured the Court that the firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code and does
not represent any interest adverse to the Debtors and their
estates.

Houlihan Lokey can be reached at:

     Reid Snellenbarger
     HOULIHAN LOKEY CAPITAL, INC.
     10250 Constellation Blvd. 5th Floor
     Los Angeles, CA 90067
     Tel: (310) 553-8871

                    About Shiloh Industries

Shiloh Industries, Inc. and its subsidiaries are global innovative
solutions providers focusing on lightweighting technologies that
provide environmental and safety benefits to the mobility markets.

On Aug. 30, 2020, Shiloh Industries and its subsidiaries sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Del.
Lead Case No. 20-12024). The petitions were signed by Lillian
Etzkorn, authorized person.

The Debtors reported total consolidated assets of $664,170,000 and
total consolidated debts of $563,360,000 as of April 30, 2020.

The Debtors have tapped Jones Day and Richards, Layton & Finger
P.A. as their legal counsel; Houlihan Lokey Capital Inc. as
financial advisor, Ernst & Young LLP as restructuring advisor, and
Prime Clerk LLC as claims and noticing agent.


SHILOH INDUSTRIES: Hires Richards Layton as Co-Counsel
------------------------------------------------------
Shiloh Industries, Inc., and its debtor-affiliates seek authority
from the U.S. Bankruptcy Court for the District of Delaware to
employ Richards Layton & Finger, P.A., as co-counsel to the
Debtors.

Shiloh Industries requires Richards Layton to:

   a) advise the Debtors of their rights, powers and duties as
      debtors and debtors in possession under chapter 11 of the
      Bankruptcy Code;

   b) assist in preparing on behalf of the Debtors motions,
      applications, answers, orders, reports and papers in
      connection with the administration of the Debtors'
      estates;

   c) take action to protect and preserve the Debtors' estates,
      including the prosecution of actions on the Debtors'
      behalf, the defense of actions commenced against the
      Debtors in the chapter 11 cases, the negotiation of
      disputes in which the Debtors are involved and the
      preparation of objections to claims filed against the
      Debtors;

   d) prosecute on behalf of the Debtors any proposed chapter 11
      disclosure statement and plan and seeking approval of all
      transactions contemplated therein and in any amendments
      thereto; and

   e) perform other necessary or desirable legal services in
      connection with these chapter 11 cases.

Richards Layton will be paid at these hourly rates:

     Directors                $750 to $1,200
     Counsels                 $685 to $700
     Associates               $400 to $665
     Paraprofessionals           $295

Prior to the Petition Date, the Debtors paid Richards Layton total
payments in the amount of $150,000.

Richards Layton will also be reimbursed for reasonable
out-of-pocket expenses incurred.

In accordance with Appendix B-Guidelines for Reviewing Applications
for Compensation and Reimbursement of Expenses Filed under 11
U.S.C. Sec. 330 for Attorneys in Larger Chapter 11 Cases, the
following is provided in response to the request for additional
information:

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

   b) None of Richards Layton's professionals included in this
      engagement have varied their rate based on the geographic
      location for these chapter 11 cases;

   c) Richards Layton has advised the Debtors in connection with
      their restructuring efforts and in contemplation of these
      cases since approximately June 25, 2020. The billing
      rates, except for Richards Layton's standard and customary
      periodic rate adjustments as set forth above, and material
      financial terms have not changed postpetition from the
      prepetition arrangement; and

   d) Richards Layton, in conjunction with the Debtors, is
      developing a prospective budget and staffing plan for the
      first interim fee period in these chapter 11 cases.

Daniel J. DeFranceschi, partner of Richards Layton & Finger, P.A.,
assured the Court that the firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code and does
not represent any interest adverse to the Debtors and their
estates.

Richards Layton can be reached at:

     Daniel J. DeFranceschi, Esq.
     Paul N. Heath, Esq.
     Zachary I. Shapiro, Esq.
     David T. Queroli, Esq.
     RICHARDS LAYTON & FINGER, P.A.
     920 N. King Street
     Wilmington, DE 19801
     Tel: (302) 651-7700
     Fax: (302) 651-7701
     E-mail: queroli@rlf.com

                     About Shiloh Industries

Shiloh Industries, Inc. and its subsidiaries are global innovative
solutions providers focusing on lightweighting technologies that
provide environmental and safety benefits to the mobility markets.

On Aug. 30, 2020, Shiloh Industries and its subsidiaries sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Del.
Lead Case No. 20-12024). The petitions were signed by Lillian
Etzkorn, authorized person.

The Debtors reported total consolidated assets of $664,170,000 and
total consolidated debts of $563,360,000 as of April 30, 2020.

The Debtors have tapped Jones Day and Richards, Layton & Finger
P.A. as their legal counsel; Houlihan Lokey Capital Inc. as
financial advisor, Ernst & Young LLP as restructuring advisor, and
Prime Clerk LLC as claims and noticing agent.


SHILOH INDUSTRIES: Seeks to Hire Jones Day as Counsel
-----------------------------------------------------
Shiloh Industries, Inc., and its debtor-affiliates seek authority
from the U.S. Bankruptcy Court for the District of Delaware to
employ Jones Day, as counsel to the Debtors.

Shiloh Industries requires Jones Day to:

   (a) advise the Debtors of their rights, powers and duties as
       debtors and debtors in possession continuing to operate
       and manage their respective businesses and properties
       under chapter 11 of the Bankruptcy Code;

   (b) prepare, on behalf of the Debtors, all necessary and
       appropriate applications, motions, proposed orders, other
       pleadings, notices, schedules and other documents, and
       reviewing all financial and other reports to be filed in
       the chapter 11 cases;

   (c) advise the Debtors concerning, and preparing responses to,
       applications, motions, other pleadings, notices and other
       papers that may be filed by other parties in the chapter
       11 cases and appearing on behalf of the Debtors in any
       hearings or other proceedings relating to those matters;

   (d) review the nature and validity of any liens asserted
       against the Debtors' property and advising the Debtors
       concerning the enforceability of such liens;

   (e) advise the Debtors regarding their ability to initiate
       actions to collect and recover property for the benefit of
       their estates;

   (f) advise and assist the Debtors in connection with any asset
       dispositions;

   (g) advise  and  represent the Debtors with respect to
       employment-related issues;

   (h) advise and assist the Debtors in negotiations with the
       Debtors' debt holders and other stakeholders;

   (i) advise and assist the Debtors with respect to issues
       implicating government regulation;

   (j) advise the Debtors concerning executory contract and
       unexpired lease assumptions, assignments and rejections;

   (k) advise the Debtors in connection with the formulation,
       negotiation and promulgation of any chapter 11 plan;

   (l) assist the Debtors in reviewing, estimating and resolving
       claims asserted against the Debtors' estates;

   (m) advise and assist the Debtors in connection with any use
       of cash collateral or offers to provide debtor-in-
       possession financing and/or exit financing;

   (n) commence and conduct litigation that is necessary and
       appropriate to assert rights held by the Debtors, protect
       assets of the Debtors' chapter 11 estates or otherwise
       further the goal of completing the Debtors' successful
       restructuring;

   (o) provide non-restructuring services for the Debtors to the
       extent requested by the Debtors, including, among others,
       advice related to mergers and acquisitions and corporate
       governance; and

   (p) perform all other necessary and appropriate legal services
       in connection with the chapter 11 cases for or on behalf
       of the Debtors.

Jones Day will be paid at these hourly rates:

     Partners                               $900 to $1,325
     Of Counsel/Counsel                     $750 to $1,075
     Associates                             $400 to $925
     Staff Attorneys/Paraprofessionals      $275 to $550

On June 8, 2020, the Debtors paid Jones Day with an advance payment
of $250,000. Due to an unexpected volume of work in the days
leading up to the Petition Date related to, among other things,
finalization of a stalking horse purchase agreement, Jones Day is
owed $127,317.16 for unpaid prepetition services and expenses.
Jones Day has agreed to write off any Unpaid Fees and to release
the Debtors from any potential claim related thereto. During the
year preceding the Petition Date, Jones Day received payments from
the Debtors, including the Retainer and replenishments thereof,
totaling $3,908819.11.

Jones Day will also be reimbursed for reasonable out-of-pocket
expenses incurred.

In accordance with Appendix B-Guidelines for Reviewing Applications
for Compensation and Reimbursement of Expenses Filed under 11
U.S.C. Sec. 330 for Attorneys in Larger Chapter 11 Cases, the
following is provided in response to the request for additional
information:

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

   Response:  No.

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

   Response:  No.

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

   Response:  Jones Day represented the Debtors during the 12-
              month period prior to the Petition Date. During
              that period, Jones Day charged the Debtors its
              standard hourly rates.

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

   Response:  The Debtors and Jones Day have developed a budget
              and staffing plan covering the time period between
              the Petition Date through November 27, 2020, which
              plan has been approved by the Debtors. The Debtors
              and Jones Day expect to develop a prospective
              budget and staffing plan to comply with the U.S.
              Trustee's requests for information and additional
              disclosures on a quarterly basis going forward,
              recognizing that in the course of the chapter 11
              cases, there may be unforeseeable fees and expenses
              that will need to be addressed by the Debtors and
              Jones Day.

Thomas M. Wearsch, partner of Jones Day, assured the Court that the
firm is a "disinterested person" as the term is defined in Section
101(14) of the Bankruptcy Code and does not represent any interest
adverse to the Debtors and their estates.

Jones Day can be reached at:

     Thomas M. Wearsch, Esq.
     T. Daniel Reynolds, Esq.
     JONES DAY
     North Point
     901 Lakeside Avenue
     Cleveland, OH 44114
     Telephone: (216) 586-3939

                     About Shiloh Industries

Shiloh Industries, Inc. and its subsidiaries are global innovative
solutions providers focusing on lightweighting technologies that
provide environmental and safety benefits to the mobility markets.

On Aug. 30, 2020, Shiloh Industries and its subsidiaries sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Del.
Lead Case No. 20-12024). The petitions were signed by Lillian
Etzkorn, authorized person.

The Debtors reported total consolidated assets of $664,170,000 and
total consolidated debts of $563,360,000 as of April 30, 2020.

The Debtors have tapped Jones Day and Richards, Layton & Finger
P.A. as their legal counsel; Houlihan Lokey Capital Inc. as
financial advisor; Ernst & Young LLP as restructuring advisor; and
Prime Clerk LLC as claims and noticing agent.


SLT HOLDCO: Second Avenue Gave $35M Financing to Buyer
------------------------------------------------------
Second Avenue Capital Partners, LLC ("SACP") (www.secondavecp.com)
announced it has provided a $35,000,000 senior secured credit
facility to a joint venture of Marquee Brands and CSC Generation in
support of their newly acquired luxury kitchenware retailer Sur La
Table.  Proceeds from the transaction are being used to provide
additional working capital and support growth.

Sur La Table was founded in 1972 and quickly became a preeminent
brand and curator of the finest culinary products and tools to
professional and home chefs alike. In addition to serving as a
critical retailer to global brands in the sector, Sur La Table is
also the largest provider of non-degree cooking schools in the
United States with over 650,000 students growing at 19% per year
serving as a pioneer in experiential retail and unprecedented
customer loyalty.

"The acquisition of Sur La Table, a company known for its
exceptional quality, represented an appealing opportunity for us,
said Justin Yoshimura, CEO of CSC Generation. "Sur La Table's
seamless omnichannel shopping experience guided by passionate and
highly knowledgeable staff, technology, and one-a-kind offerings
will allow the company to recover and forge ahead in a
post-COVID-19 retail environment."

"SACP was a true partner throughout the acquisition, from
supporting us in the bidding process to delivering a credit
facility concurrent with our closing," Mr. Yoshimura continued.
"They remained flexible and executed on the terms provided,
adjusting with us as the deal dynamics evolved.  Within  one week,
SACP delivered a capital solution that provides Sur La Table with
the resources to build long-term success."

"These uncertain times have been very disruptive to the retail
sector," said Chris O'Connor, President of Second Avenue Capital
Partners. "Because of that disruption, many lenders are stepping
back from the space. But with the insight gained from our
affiliates and our retail-focused approach, these are exactly the
types of transactions where we lean in. With Sur La Table, we see
more than just a business with a loyal customer base. We see a
company with a product offering that has enhanced purpose for an
improved quality of life centered around the home."

About Second Avenue Capital Partners LLC – Second Avenue Capital
Partners, LLC (www.secondavecp.com), a Schottenstein Affiliate, is
a finance company specializing in asset-based loans for the broader
retail and consumer products industry. Focused on serving
middle-market companies, SACP leverages the experience of retail
operators, product merchants, and lenders to provide an array of
customized, capital solutions for businesses. This unique merchant
perspective gives SACP the ability to recognize and unlock value in
assets other capital providers often overlook or do not understand.
The firm's tailored financial solutions are a vital resource for
clients as they seek the capital necessary to effectuate strategy
and achieve financial objectives. Headquartered in Boston, Second
Avenue Capital Partners also has offices in New York, Columbus, and
Los Angeles.

About Sur La Table - Founded in 1972 at Seattle's historic Pike
Place Market, Sur La Table is the trusted resource for customers
passionate about cooking and entertaining. The company's catalog of
products encompasses cookware, kitchen electrics, tools and
gadgets, cutlery, bakeware, tabletop, glassware, and locally
sourced food and accessories, available in over 50 stores
nationwide as well as online at www.surlatable.com. The company
also operates the largest non-professional cooking school in the
United States, offering cooking classes from kitchens located in
35+ locations. Cooks from beginner to advanced can take cooking
classes to learn, build skills, and get inspired to live a better
life through cooking. Follow Sur La Table on Facebook, Instagram,
Pinterest, and YouTube.

About CSC Generation - CSC Generation Holdings is a technology
start-up that enables brands to become "digitally native." Over the
next decade, CSC Generation's goal is to reach $10B in revenues by
helping retailers survive. CSC Generation is founded by Justin
Yoshimura and backed by world-class investors including Altos
Ventures and Panasonic.

About Marquee Brands - Marquee Brands (www.marqueebrands.com) is a
leading global brand owner, marketer and media company. Owned by
investor funds managed by Neuberger Berman, one of the world's
leading employee-owned investment managers, Marquee Brands targets
high quality brands with strong consumer awareness and long-term
growth potential. Marquee Brands seeks to identify brands in
various consumer product segments with the goal of expanding their
reach across retail channel, geography and product category while
preserving the brand heritage and enhancing the ultimate consumer
experience. Through its global team of professionals and partners,
Marquee Brands monitors trends and markets in order to grow and
manage brands in partnership with retailers, licensees and
manufacturers through engaging, impactful strategic planning,
marketing, and ecommerce.

                      About Sur La Table

Sur La Table, Inc. -- https://www.surlatable.com/ -- is a privately
held retail company that sells kitchenware products, including
cookware, bakeware, kitchen tools, knives, small appliances, dining
and home products, coffee and tea, food, and outdoor cookware.

SLT Holdco, Inc. and affiliate, Sur La Table, Inc., sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Tex.
Lead Case No. 20-18368) on July 8, 2020.  The petition was signed
by Jason Goldberger, chief executive officer.

At the time of the filing, SLT Holdco was estimated to have assets
and liabilities of between $10 million to $50 million.  Sur La
Table was estimated to have assets and liabilities of between $100
million to $500 million.  

Michael D. Sirota, Esq., Warren A. Usatine, Esq., David M. Bass,
Esq., Jacob S. Frumkin, Esq. of Cole Schotz P.C., serve as counsel
to the Debtors.  SOLIC Capital is the Debtors' financial advisor
and investment banker.  A&G Realty Partners LLC acts as the
Debtors' real estate advisor.  Great American Group, LLC and Tiger
Capital are the Debtors' sales consultant.  Omni Agent Solutions is
the Debtors' claims and noticing agent.


SLT HOLDCO: To Liquidate Remaining Assets, Pay Lenders
------------------------------------------------------
Leslie A. Pappas of Bloomberg Law reports that upscale cookware
chain Sur La Table plans to liquidate assets left over after a
business sale and will repay some of its lenders while leaving
unsecured creditors largely empty-handed.

The Seattle-based retailer, which sold its business for $90 million
after filing bankruptcy, plans to fully repay a $3 million
bankruptcy loan, a $36.8 million term loan, and all administrative,
tax, and priority claims, according to its disclosure statement.

Holders of a $37.9 million claim on an asset-backed lending
facility are expected to recover 49.3% of that claim.

A trustee would wind down the estate and pay other claims.

                       About Sur La Table

Sur La Table, Inc. -- https://www.surlatable.com/ -- is a privately
held retail company that sells kitchenware products, including
cookware, bakeware, kitchen tools, knives, small appliances, dining
and home products, coffee and tea, food, and outdoor cookware.

SLT Holdco, Inc. and affiliate, Sur La Table, Inc., sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Tex.
Lead Case No. 20-18368) on July 8, 2020.  The petition was signed
by Jason Goldberger, chief executive officer.

At the time of the filing, SLT Holdco was estimated to have assets
and liabilities of between $10 million to $50 million.  Sur La
Table was estimated to have assets and liabilities of between $100
million to $500 million.  

Michael D. Sirota, Esq., Warren A. Usatine, Esq., David M. Bass,
Esq., Jacob S. Frumkin, Esq. of Cole Schotz P.C., serve as counsel
to the Debtors.  SOLIC Capital is the Debtors' financial advisor
and investment banker.  A&G Realty Partners LLC acts as the
Debtors' real estate advisor.  Great American Group, LLC and Tiger
Capital are the Debtors' sales consultant.  Omni Agent Solutions is
the Debtors' claims and noticing agent.


SNFW FITNESS: Now Bankrupt; Buyer Not Using Name
------------------------------------------------
Bloomberg reports that fitness chain in British Columbia that
carried the name of Steve Nash fell victim to the coronavirus
pandemic, and its bankruptcy has given the basketball star a
victory he has wanted for years.

SNFW Fitness B.C. Ltd., which operated about two dozen Steve Nash
Fitness World & Sports Club locations in the province, filed for
creditor protection after Covid-19 forced it to close its doors and
cut staff to six from 1,300.

A group of investors received court approval in July to purchase
the assets and is in the process of reopening.  But the new company
won't get the right to use the Nash name -- which the Hall of Fame
point guard tried, and failed, to have removed from the business
starting in 2016.

Nash, a Canadian icon, helped establish the company that became
SNFW in 2007 with Leonard Schlemm and Mark Mastrov, co-founders of
24 Hour Fitness.  Mastrov is also part of the ownership group of
the NBA's Sacramento Kings.

Nash hasn't been involved with SNFW as a shareholder or director
since 2014.  He launched a legal challenge four years ago to force
the company to stop using his name in its gyms, but a court ruled
the licensing agreement was valid.

The reopened locations will be called simply Fitness World.  "We
are in the process of reopening 15 locations with rebranding, club
enhancements and upgraded equipment," Chris Smith, chief executive
officer of the new company, FW Fitness BC Ltd., said in an email.

Smith was also CEO of the bankrupt company. He and Mastrov are
listed as directors of FW Fitness.

SNFW listed liabilities of C$53.4 million ($40.4 million) and
assets of zero, according to a statement of affairs posted on the
website of the Bowra Group, the trustee in the matter.

FW Fitness agreed to purchase SNFW's assets for C$9 million, a deal
that will result in a shortfall to SNFW's primary secured creditor,
Bank of Montreal, of more than C$25 million, according to the
documents.

                      About SNFW Fitness

SNFW Fitness B.C. Ltd. operates 27 fitness facilities located in
the Lower Mainland and on Vancouver Island.  SNFW fitness
facilities are doing business as “Steve Nash Fitness World and
Sport Club”, and under “UFC Gym”.  SNFW offers fitness
facilities for personal use, fitness group classes, personal
training and, in certain locations, mixed martial arts training.

On April 3, 2020 the Company filed a Notice of Intention to make a
Proposal under subsection 50.4(1) of the Bankruptcy and Insolvency
Act.

On April 24, 2020, the Supreme Court of British Columbia granted an
order approving the sale process for the solicitation of offers for
the sale of the assets and undertakings of SNFW Fitness B.C. Ltd.
The Bowra Group Inc. engaged MNP Corporate Finance to commence the
Sales Process.

On July 23, the sale of the assets of the Company to FW Fitness
B.C. Ltd. was approved by the Supreme Court of British Columbia.

The Company did not make a Proposal to its creditors or seek a
further extension of time to make a Proposal by August 3, 2020 and
as a result the Company was deemed bankrupt on August 4, 2020.



STANTON GOLF: Case Summary & Unsecured Creditor
-----------------------------------------------
Debtor: Stanton Golf Holdings, LLC
        25 Clubhouse Drive
        Whitehouse Station, NJ 08889

Business Description: Stanton Golf Holdings, LLC is engaged in
                      activities related to real estate.
                      The Company owns 100% interest in
                      StantonRidge Golf & Country Club,Inc; 100%
                      interest in Stanton Golf Properties; 100%
                      interest in Stanton Ridge Hospitality
                      Corporation.

Chapter 11 Petition Date: October 9, 2020

Court: United States Bankruptcy Court
       District of New Jersey

Case No.: 20-21499

Debtor's Counsel: John F. Bracaglia, Jr., Esq.
                  SAVO SCHALK GILLESPIE O'GRODNICK & FISHER, P.A.
                  56 East Main Street
                  Suite 301
                  Somerville, NJ 08876
                  Tel: 908-526-0707
                  Email: bracaglia@centraljerseylaw.com

Total Assets: $4,203

Total Liabilities: $3,659,262

The petition was signed by Cornelius I VanCleef, managing member.

The Debtor listed Unity Bank as its sole unsecured creditor holding
an unknown amount of claim.

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

https://www.pacermonitor.com/view/JPXEG2A/Stanton_Golf_Holdings_LLC__njbke-20-21499__0001.0.pdf?mcid=tGE4TAMA


STANTON RIDGE: Case Summary & 3 Unsecured Creditors
---------------------------------------------------
Debtor: Stanton Ridge Golf and Country Club, Inc.
        25 Clubhouse Drive
        Whitehouse Station, NJ 08889

Business Description: Stanton Ridge Golf and Country Club, Inc.
                      owns and operates the Stanton Ridge Golf &
                      Country Club, a privately-owned country club

                      in Hunterdon County.  The Club also offers a

                      breadth of amenities, including fine dining,

                      casual dining, and a relaxing lounge/terrace

                      area for post golf socializing.

Chapter 11 Petition Date: October 9, 2020

Court: United States Bankruptcy Court
       District of New Jersey

Case No.: 20-21504

Debtor's Counsel: John F. Bracaglia, Jr., Esq.
                  SAVO SCHALK GILLESPIE O'GRODNICK & FISHER, P.A.
                  56 East Main Street
                  Suite 301
                  Somerville, NJ 08876
                  Tel: 908-526-0707
                  Email: bracaglia@centraljerseylaw.com

Total Assets: $664,498

Total Liabilities: $3,821,897

The petition was signed by Cornelius I Van Cleef, president.

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

https://www.pacermonitor.com/view/JAA6LZI/Stanton_Ridge_Golf_and_Country__njbke-20-21504__0001.0.pdf?mcid=tGE4TAMA


STAR DETECTIVE & SECURITY: May Use Cash Collateral Thru Nov. 30
---------------------------------------------------------------
Judge David D. Cleary of the U.S. Bankruptcy Court for the Northern
District of Illinois, Eastern Division, has authorized Star
Detective & Security Agency Inc. to use cash collateral on an
interim basis through November 30, 2020 to pay the operating
expenses listed on the budget.

An immediate need exists for the Debtor to use cash collateral to
continue operating the Debtor's security services business pursuant
to 11 U.S.C. sections 1107, 1108.

Judge Cleary held that, to provide adequate protection of its
interest in the cash collateral, including without limitation, the
Debtor's cash and/or accounts receivable, McCormick 105 and the
Internal Revenue Service are each granted replacement liens upon
the all assets and all property of the Debtor's estate, and all the
revenues, profits and avails generated therefrom after commencement
of the case that will have the same validity, extent and priority
as the liens held by McCormick 105, LLC and the Internal Revenue
Service, respectively, on the day before the case was commenced.

Further, on a bi-monthly basis, the Debtor will provide McCormick
105, LLC and the Internal Revenue Service with budget-to-actual
reporting, by line item; and authority to use the Cash Collateral
should cease if the Debtor's actual performance varies from the
budget by more than a 5% variance of total expenditures or of total
receipts. On a monthly basis, the Debtor will provide McCormick 105
and the Internal Revenue Service with documentary backup for all
expenditures made pursuant to the Budget.

As further adequate protection, McCormick 105 will receive
$6,500.00 from the Debtor by way of wire transfer on October 15 and
on November 15.

A further hearing on the matter will be held on November 25 at
10:30 a.m.

A copy of the Court's order is available at https://bit.ly/2GPuofC
from PacerMonitor.com.

          About Star Detective & Security Agency Inc.

Star Detective & Security Agency Incorporated --
https://starsecurityinc.com/ -- offers both armed and unarmed
security guard services serving real estate developers, financial
institutions, offices & commercial buildings, residential
buildings, and hospitals.  The Company also provides international
expertise in all forms of corporate investigations.

Star Detective & Security Agency sought protection under Chapter 11
of the Bankruptcy Code (Bankr. N.D. Ill. Case No. 20-05300) on Feb.
26, 2020.  The petition was signed by Dominique A. Wallace, sole
shareholder.  At the time of filing, the Debtor was estimated to
have $100,000 to $500,000 in assets and $1 million to $10 million
in liabilities.  

The case is assigned to Judge David D. Cleary.

The Debtor is represented by Karen Jackson Porter, Esq., at PORTER
LAW NETWORK.



TAILORED BRANDS: Gets Court OK to Send Exit Plan to Creditors
-------------------------------------------------------------
Josh Saul of Bloomberg News reports that Men’s Wearhouse parent
company Tailored Brands Inc. wins approval of its disclosure
statement in court hearing Oct. 8, 2020, allowing the company to
send its proposed bankruptcy-exit plan for creditor vote.  U.S.
Bankruptcy Judge Marvin Isgur says he will approve plan once
company lawyers make an amendment to address treatment of general
unsecured claims held by Tailored Brands Worldwide Purchasing Co.
The company reached agreement with other parties to settle
objections and clear way to approval of disclosure statement.

                      About Tailored Brands

Tailored Brands, Inc., (NYSE: TLRD) is an omni-channel specialty
retailer of menswear, including suits, formal wear 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 CORP: Court Tosses Chapter 11 Air Bag Claims
---------------------------------------------------
Law360 reports that a Delaware judge on Oct. 8, 2020, disallowed
claims filed against Takata's bankruptcy trust by 13 individuals
asserting they were injured as a result of air bags failing to
deploy during automobile accidents, saying the manufacturer's parts
didn't have a role in the failed deployment.

In a 16-page opinion, U.S. Bankruptcy Judge Brendan L. Shannon
agreed with the trustee of the Takata Airbag Tort Compensation
Trust Fund, which was set up as part of the Chapter 11
reorganization of Takata Corp.'s U. S. subsidiary TK Holdings Inc.,
in finding that inflators made by the manufacturer "have no role in
the failure of an airbag."

                        About Takata Corp.

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.


TECH DATA: S&P Lowers Senior Unsecured Debt Rating to 'B+'
----------------------------------------------------------
S&P Global Ratings lowered its issue-level rating on Tech Data
Corp.'s senior unsecured debt by four notches to 'B+' from 'BBB-'
and removed the rating from CreditWatch, where S&P placed it with
negative implications on June 15, 2020. The recovery rating on the
debt is '6' (0%-10%; rounded estimate: 0%) .

These debt issues were not validly tendered and still carry
balances of approximately $66 million on the 2022 notes and $132
million on the 2027 notes. Under the company's final capital
structure, S&P views these unsecured debt issues as structurally
subordinated to its other secured debt, which includes a $1.7
billion five-year asset-based lending (ABL) term loan, a $370
million five-year first-in, last-out (FILO) term loan, and a $2.8
billion ABL revolver.

All of S&P's other ratings on Tech Data Corp., including its 'BB'
issuer credit rating and stable outlook, are unchanged.

ISSUE RATINGS--RECOVERY ANALYSIS

Key analytical factors

-- S&P has updated its recovery analysis to reflect the company's
final capital structure, which now comprises a $2.8 billion ABL
revolver, a $1.7 billion ABL term loan, a $370 million ABL FILO
term loan, as well as the company's legacy unsecured notes due 2022
($66.2 million outstanding) and 2027 ($132.49 million outstanding).
In S&P's default scenario, it assumes that the $66.2 million
outstanding under Tech Data's legacy unsecured notes due 2022 is
repaid at maturity.

-- S&P's simulated default scenario assumes a default occurring in
2025 against the backdrop of a prolonged economic downturn that
severely reduces the demand for the company's products, which
causes its revenue and volume to decline and leads to pricing
pressure and margin compression. These conditions also hurt the
company's customers and consequently strain their ability to
fulfill their payables to Tech Data. Working capital reduction in
the early stages of the downturn should support the company's free
cash flow generation. However, over time, a protracted period of
weak earnings would likely impair Tech Data's cash flow generation,
erode its liquidity, and ultimately lead to a payment default.

-- Because of the asset-specific characteristics associated with
the proposed facilities, we are using a discrete asset value (DAV)
approach to analyze Tech Data's recovery prospects. S&P said, "In
our default scenario, we also assume these assets are partially
diluted to reflect the assumed loss of appraised value through
additional depreciation or expected contraction of asset value in
the period leading up to the hypothetical default. We then apply
realization rates to the assets to reflect the friction of selling
or the discounts potential buyers or restructurers would apply in
distressed circumstances."

-- S&P assumes all accounts receivable contract by 30% and all
inventories contract by 20%. S&P assumes realization rates of 70%
for accounts receivable and 55% for inventory.

-- S&P has not allocated value to personal protection equipment
and or goodwill/intangibles because it believes the company would
likely shutter many of its facilities on the path to default and
its goodwill and intangibles would likely be impaired.

-- S&P assumes a 90%/10% split between obligors and nonobligors on
the accounts receivable and inventory.

-- S&P assumes the Tech Data's legacy unsecured notes due 2022,
which mature well in advance of its simulated year of default, are
repaid at maturity.

Based on these assumptions, we arrive at a net enterprise value of
roughly $3.8 billion, which provides substantial coverage for the
ABL debt issues (over 95% coverage) due, in part, to the structural
protections provided by the credit agreements.
Simulated default assumptions

-- Simulated year of default: 2025
-- Jurisdiction: U.S.
-- LIBOR: 2.5%
-- ABL revolving facility utilization (60%): $2.8 billion

Simplified waterfall

-- Net enterprise value: $3.78 billion
-- Collateral/noncollateral valuation split: 90%/10%
-- ABL revolver and term loan claims: $3.4 billion
-- Value available to ABL revolver and ABL term loan lenders:
$3.78 billion
-- Recovery expectations: 90%-100% (rounded estimate: 95%)
-- ABL FILO term loan claims: $368 million
-- Remaining value available to ABL FILO term loan lenders: $360
million
-- Recovery expectations: 90%-100% (rounded estimate: 95%)
-- Remaining value available to unsecured bondholders: $0
-- Total unsecured claims: $141 million
-- Recovery expectations: 0%-10% (rounded estimate: 0%)


TENSAR CORP: S&P Places 'CCC' ICR on Watch Developing
-----------------------------------------------------
S&P Global Ratings placed its ratings, including the 'CCC' issuer
credit rating, on CreditWatch with developing implications on
Atlanta-based building products manufacturer The Tensar Corp.,
indicating it could raise its ratings if the transaction is
completed as planned, or lower its ratings if the refinancing is
not completed in a timely manner.

S&P plans to resolve its CreditWatch placement within the next 90
days, upon resolution of the proposed refinancing transaction.

The rating action is in response to the announcement that Tensar
has currently engaged a private lender group for a proposed term
loan B to refinance its existing debt.  Over the coming 12 months,
the company's $212 million (outstanding) first-lien term loan and
its $25 million asset-backed lending facility (ABL), $7 million
currently outstanding, both come due. The term loan consists of 70%
of the company's capital structure, the remaining 30% is made up of
a $78 million second-lien term loan due July 2022. S&P said, "If
the company completes its refinancing, it's likely we would raise
the rating as Tensar's performance continues to be favorable
through the year, despite operating headwinds caused by the
COVID-19 pandemic. Company leverage was 6.5x on a rolling-12-month
basis as of June 30, 2020, and since the transaction is debt for
debt, we expect its impact on leverage to be neutral."

S&P said, "We expect to resolve our CreditWatch with developing
implications within the next 90 days, dependent upon the company's
ability to complete its proposed debt refinancing to address its
upcoming term loan maturities in July 2021 and 2022."

"We may raise our ratings on the company, potentially to the 'B-'
category, if it completes its refinancing and puts in place a
sustainable capital structure, with debt leverage remaining at
6x-7x."

"We may downgrade the company if it is not able to address its debt
maturities and we believe a default, distressed exchange, or
discounted repurchase appears to be likely within six months."


TERRAVION INC: Seeks to Hire Dunlap Bennett as Counsel
------------------------------------------------------
TerrAvion Inc. and its debtor-affiliates seek authority from the US
Bankruptcy Court for the District of Delaware to hire Dunlap
Bennett & Ludwig PLLC  as its counsel.

TerrAvion requires Bennett & Ludwig to:

     (a) provide the Debtor with advice and preparing all necessary
documents regarding debt restructuring, bankruptcy and asset
dispositions;

     (b) take all necessary actions to protect and preserve the
Debtor's estate during the pendency of this chapter 11 case,
including the prosecution of actions by the Debtor, the defense of
actions commenced against the Debtor, negotiations concerning
litigation in which the Debtor are involved and objecting to claims
filed against the estate;

     (c) prepare on behalf of the Debtor, as debtor-in-possession,
all necessary motions, applications, answers, orders, reports and
papers in connection with the administration of this chapter 11
case;

     (d) counsel the Debtor with regard to their rights and
obligations as debtor-in-possession;

     (e) appear in Court and to protect the interests of the Debtor
before the Court; and

     (f) perform all other legal services for the Debtor which may
be necessary and proper in this proceeding.  

Dunlap Bennett's hourly rates are:

     David Ludwig      $495
     W. Calvin Smith   $325
     Tracy Pearson     $395
     Associates        $250 to $295
     Paraprofessionals $135

Dunlap Bennett received a retainer of $25,000.

Dunlap Bennett is "disinterested" and does not hold or represent an
interest adverse to the Debtor's estate,
according to court filings.

The firm can be reached through:

     David Ludwig, Esq.
     W. Calvin Smith, Esq.
     Dunlap Bennett & Ludwig PLLC
     211 Church St. SE
     Leesburg, VA 20175
     Tel: (703) 777-7319
     Fax: (703) 777-3656 (facsimile)
     Email: dludwig@dbllawyers.com
            csmith@dbllawyers.com  

                    About TerrAvion Inc.

TerrAvion is the biggest and most economical commercial provider of
subscription aerial imagery for agriculture in the U.S., Canada,
and Brazil.

TerrAvion Inc. and its affiliates filed voluntary petitions for
relief under chapter 11 of title 11 of the Bankruptcy Code (Bankr.
D. Del. Lead Case No. 20-12058) on August 31, 2020. At the time of
filing, the Debtor estimated $50,000 in assets and $10,000,001 to
$50 million in liabilities. Tracy Leanne Pearson at Dunlap, Bennett
& Ludwig, PLLC, represents the Debtors as counsel.


THOMAS R. MCCONNELL: Viswam Buying Muncie Property for $164K
------------------------------------------------------------
Thomas R. McConnell and Susan K. McConnell ask the U.S. Bankruptcy
Court for the Southern District of Indiana to authorize the sale of
the parcel of real property located at 2113 W. Washington Street,
Muncie, Indiana to Vishal Viswam for $164,000.

The Debtors are the co-owners of the Real Estate.  Said Real Estate
consists solely of separate rental units A, B, C, and D.  The Real
Estate was listed on the Debtors' Amended Schedule A/B under Item
1.3 at a fair market value of $145,000.  For a number of years, and
up to the present, the Debtors have derived rental income from said
Units.

There are presently no liens, mortgages, or encumbrances on said
Real Estate.  However, three of the four Units are presently
occupied by certain tenants.

On Feb. 17, 2020, the Sellers entered into a listing contract with
Scott Locke, an Indiana licensed real estate agent with the
Coldwell Banker Real Estate Group, for the purpose of marketing the
Real Estate for sale.  Pursuant to said listing contract, the List
Price of the Real Estate was $141,000.

Prior to the sale contemplated, an offer was made in March 2020 for
$125,000.  The Sellers rejected the offer.  The name of the
prospective purchaser of the Real Estate is Viswam.  The sales
price is $164,000.  The Purchaser and the Sellers are to equally
split closing costs.  The consummation of the sale is contingent
upon the Purchaser obtaining financing, which is reasonably
expected to occur.  The Purchase Agreement was executed by the
parties between the dates of Sept. 8, 2020 and Sept. 14, 2020.

Pursuant to Addendum # 1 of the Purchase Agreement, all units to be
vacant within 60 days of accepting offer.  Tenants will be given
written notice by owner to vacate the premises.  All leases will be
terminated -- null and void prior to closing.

The present rental status of the Units (as of the date of the
filing of the Motion) is as follows:

      Unit Letter   Current Tenant           Status

          A          Tim Best       No lease. 30-day option by L/T.

          B          Jim Hiday      No lease. 30-day option by L/T.

          C          Theresa Ingle  Lease expired.  Eviction
pending.
          D            Vacant                 N/A

Pursuant to the signed Purchase Agreement, closing is to occur by
Nov. 9, 2020, depending on the date that the last of the Units'
tenants have vacated the premises.  In addition to the notice
listed, the Debtors/Sellers will be providing the 30-day Notice to
Terminate a month-to-month tenancy.  Upon information and belief,
there are no issues which might pose an impediment to the proposed
sale.  The Debtors have previously asserted an exemption of $3,500
relating to the Real Estate.   

The anticipated proceeds of the sale of the Real Estate breaks down
as follows:

        Purchase Price:         $164,000
        Less:
          Sales costs (10%):    ($16,400)
          Exemption:            ( $3,500)
          Renovation costs:     ($29,000)
        Estimated net proceeds: $115,100

The sale of the Real Estate is expressly contemplated under the
Debtors' Amended Plan of Reorganization insofar as all or some of
the proceeds from the anticipated sale of said Real Estate have
been designated as funds to be held in a restricted escrow account
for the purpose of satisfying federal tax liabilities that may be
determined by the Court under adversarial proceeding 20-50031.
Said Plan has not yet been confirmed by the Court.  In the event
the Plan is confirmed, the Internal Revenue Service would be deemed
to have an interest in a material portion of the Real Estate sale
proceeds, pending the outcome of the adversarial proceeding noted.

Pending the Court's approval of the Debtors' Plan, the net proceeds
will be deposited into a restricted escrow account and disbursed
pursuant to an order of the Court.

Thomas R. McConnell and Susan K. McConnell sought Chapter 11
protection (Bankr. S.D. Ind. Case No. 19-07217) on Sept. 26, 2019.
The Debtors tapped John Woodrow Nelson, Esq., at Law Offices of
John Nelson, as counsel.


TMK HAWK: S&P Downgrades ICR to 'SD' on Distressed Exchange
-----------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on U.S.-based
TMK Hawk Parent Corp. (Trimark) to 'SD' (selective default) from
'CCC', its issue-level rating on its existing first-lien term loan
to 'D' from 'CCC', and its issue-level rating on its existing
second-lien term loan to 'D' from 'CC'.

S&P expects to raise its issuer credit rating on Trimark in the
coming days after its reevaluate its amended capital structure and
liquidity position.

Trimark completed a recapitalization transaction and issued a new
$120 million super-priority first out term loan, which was provided
by a majority of its first-lien lenders. In addition, the company
exchanged $307.5 million of its existing first-lien term loan for a
new super-priority second out term loan.

The downgrade reflects the company's completion of the debt
exchange. With the consent of a majority of its lenders, Trimark
amended its existing first-lien term loan to enable it to issue
super-priority first out and second out term loans that are senior
to its existing first- and second-lien term loans. The company also
issued a new $120 million super-priority first out term loan
provided by a majority of its first-lien lenders and exchanged
$307.5 million of its existing first-lien term loan for a new
super-priority second out term loan. S&P views the transaction as a
distressed exchange because its existing lenders received less than
they were originally promised and the ranking of their debt was
lowered to a more junior position without adequate compensation.
The company's weak performance is also a factor.

Trimark's existing lenders received less than they were originally
promised and their unexchanged debt holds a less-favorable payment
position. The $120 million super-priority first out term loan will
be first in payment priority ahead of the $307.5 million second-out
super-priority tranche, which is senior to the company's existing
first- and second-lien term loans. S&P also believes that the
existing term loan lenders were not adequately compensated for
their additional risk because the pricing on both of the existing
terms remains unchanged.

"We could raise our ratings on Trimark after we complete a review
of its new capital structure, which includes an unrated $120
million super-priority first out term loan, an unrated $307.5
million super-priority second out term loan, a $261.5 million
outstanding first-lien term loan, and a $235 million outstanding
second-lien term loan," S&P said.

The company also has an unrated $250 million asset-based lending
(ABL) facility due 2024. The transaction will provide Trimark with
about $107 million of net proceeds, which should improve its
liquidity position. However, S&P expects the company's debt
leverage to remain elevated and its free cash flow to stay
negative, which supports the rating agency's view that the
company's capital structure will continue to be unsustainable. As
such, S&P expects to raise its issuer credit rating on Trimark to
the 'CCC' category following its review.


TOWN SPORTS: Several Locations in Massachusetts Close
-----------------------------------------------------
Bill Kirk of Andover Townsman reports that the coronavirus
continues taking a toll on area businesses, with Boston Sports
Clubs, which owns the Latitude chain of gyms, being the latest to
shut its doors Sept. 30, 2020, laying off hundreds of employees and
leaving thousands of members searching for a new place to work
out.

The Latitude clubs in Bradford, Peabody, Methuen and Salisbury have
all closed in the last couple of days. The parent company of BSC,
Town Sports International, also closed clubs in Lynnfield,
Lexington, Medford, Westborough and Providence.

The websites for the Peabody and Methuen clubs carry a note saying
the clubs are closed "temporarily." The websites for the Salisbury
and Bradford clubs have been taken down.

"This club is temporarily closed," said the note on the Methuen
club's website. "No members have been billed for access this month.
Please check our website and look for an email to your account we
have on file for an update."

Nobody from either the corporate offices or the local clubs
returned voicemails or emails.

The closures are more evidence of the severe impact COVID-19 has
had on health clubs, which experts say have been disproportionately
affected by the economic shutdown caused by the disease.

Town Sports International filed for Chapter 11 bankruptcy
restructuring on Sept. 14, 2020, but corporate officials said at
the time that members would see no changes. Meanwhile, 24-Hour
Fitness and Gold's Gym have also filed for bankruptcy. Gold's has
closed its corporate-owned locations although the franchises,
including one in Tewksbury, remain open, according to the manager
there.

Town Sports International runs 185 gyms across the country
including 30 in Massachusetts. Latitude clubs were sold to Boston
Sports Club in the spring of 2019.

In a Sept. 30, 2020 article on the website Clubindustry.com, Town
Sports International was "working on a deal for the purchase of the
company" with a private equity firm.

In a statement posted on the Town Sports website in mid-September,
the company said it would use the Chapter 11 process to "engage in
further discussions with landlords and other creditors to
successfully restructure debts to best position the company for
long-term success in the current fitness industry environment."

A spokesperson for the industry trade group International Health,
Racquet & Sportsclub Association, or IHRSA, said the virus has
"devastated" the health and fitness industry.

"Gyms/clubs were among the first businesses to close, among the
last to open, and even when open, capacity restrictions limit
much-needed revenues," said Meredith Poppler, vice president of
communications at IHRSA. "There were 40,000-50,000 health and
fitness clubs in the U.S., serving over 73 million consumers last
year. The industry employed 3 million part-time and full-time
employees."

She said that as of Sept. 1, 2020, the industry, as a whole, had
lost $13.9 billion in revenue. She added that "U.S. clubs in total
were losing $700 million per week during the height of the
shutdown."

Even though some clubs have opened with capacity reduced to 25-50%,
clubs "still have 100% of expenses."

"Multiple national and regional fitness chains have filed for
bankruptcy," she added, noting that "almost 3,000 clubs have
already permanently closed. Without financial relief from Congress,
we estimate that at least 25% of clubs could close by the end of
2020 — which would cause massive layoffs."

She noted that the Chapter 11 declaration of Boston Sports Clubs
parent company and "subsequent closures are devastating for their
employees and the millions of people who had been benefiting—mind
and body—from the fitness services they provided."

                                About Town Sports

Town Sports International, LLC and its subsidiaries are owners and
operators of fitness clubs in the United States, particularly in
the Northeast and Mid-Atlantic regions. As of Dec. 31, 2019, the
Company operated 186 fitness clubs under various brand names,
collectively serving approximately 605,000 members. Town Sports
owns and operates brands such as New York Sports Clubs, Boston
Sports Clubs, Philadelphia Sports Clubs, Washington Sports Clubs,
Lucille Roberts and Total Woman.

Town Sports and several of its affiliates filed for bankruptcy
protection (Bankr. D. Del. Lead Case No. 20-12168) on Sept. 14,
2020. The petitions were signed by Patrick Walsh, chief executive
officer.

The Debtors were estimated to have $500 million to $1 billion in
consolidated assets and consolidated liabilities.

The Hon. Christopher S. Sontchi presides over the cases.

Young Conaway Stargatt & Taylor, LLP, and Kirkland & Ellis LLP have
been tapped as bankruptcy counsel to the Debtors. Houlihan Lokey,
Inc., serves as financial advisor and investment banker to the
Debtors, and Epiq Corporate Restructuring LLC acts as claims and
noticing agent to the Debtors.


TRC FARMS: Solicitation Period Extended Thru Nov. 18
----------------------------------------------------
Judge Joseph N. Callaway of the U.S. Bankruptcy Court for the
Eastern District of North Carolina, New Bern Division, extended TRC
Farms Inc.'s exclusive period to obtain acceptance of the plan by
60 days from September 19, 2020, to November 18, 2020.

The Debtor's plan was filed on June 22, 2020, and the acceptance
period deadline was initially set to expire on September 19, 2020.


A copy of the Court's Extension Order is available from
PacerMonitor.com at https://bit.ly/3nGp13x at no extra charge.

                      About TRC Farms Inc.

TRC Farms, Inc., a privately held company in the livestock farming
industry, filed a petition for relief under Chapter 11 of the
Bankruptcy Code (Bankr. E.D. N.C. Case No. 20-00309) on Jan. 23,
2020.  In the petition signed by Timmy R. Cox, president, the
Debtor disclosed $3,846,275 in assets and $5,412,282 in
liabilities.  

Judge Joseph N. Callaway oversees the case.  The Debtor tapped
Ayers & Haidt, PA as its legal counsel, and Carr Riggs & Ingram,
LLC as its accountant.

TRC Farms has asked the Bankruptcy Court to authorize the private
sale of the real estate and improvements and all improvements
constructed thereon located at Biddle Road, Dover City, Craven
County, North Carolina, for $535,000.


TWIN RIVER: Moody's Assigns B2 Corp. Family Rating, Outlook Neg.
----------------------------------------------------------------
Moody's Investors Service assigned a Caa1 rating to Twin River
Worldwide Holdings, Inc.'s $125 million tack-on to the company's
existing $400 million 6.750% senior notes due 2027. TRWH's existing
ratings including the B2 Corporate Family Rating (CFR) and negative
outlook are not affected.

Proceeds from the note offering will be used for general corporate
purposes and could include the funding of the recently announced
acquisition of Juniper's Casino & Hotel in Rock Island, Illinois
from Delaware North for an aggregate purchase price of $120
million. The acquisition, which was announced on 30-Sep, is
expected to close in the second quarter of 2021.

Moody's has a favorable view of TRWH's acquisition of Juniper's
Casino & Hotel. The acquisition is consistent with the company's
long-term growth strategy and expands the company's casino
footprint into the Illinois market where sports betting, an
important online earnings catalyst, is legal.

Like TRWH's existing senior notes, the tack-on will be senior
unsecured obligations and guaranteed, jointly and severally, by
each of the company's restricted subsidiaries that guarantees its
first lien credit facilities. The Caa1 assigned to the tack-on, two
notches below the company's Corporate Family Rating, reflects the
effective subordination of these notes relative to the secured
credit facilities

TRWH has a B2 Corporate Family Rating, B2-PD Probability of Default
Rating, SGL-2 Speculative Grade Liquidity rating, and negative
rating outlook.

The following ratings/assessments are affected by the action:

New Assignments:

Issuer: Twin River Worldwide Holdings, Inc.

Senior Unsecured Notes, Assigned Caa1 (LGD5)

Ratings Unchanged:

Issuer: Twin River Worldwide Holdings, Inc.

Gtd Senior Secured Revolving Credit Facility, Unchanged at Ba3
(LGD2 from LGD3)

Gtd Senior Secured Term Loan B, Unchanged at Ba3 (LGD2 from LGD3)

Gtd Senior Secured 1st Lien Term Loan B1, Unchanged at Ba3 (LGD2
from LGD3)

RATINGS RATIONALE

TRWH's B2 CFR reflect the improved level of geographic
diversification resulting from acquisitions during the past year
along with the recently announced Juniper acquisition. Also
supporting the rating is the company's good liquidity. Pro forma
for the tack-on, TRWH Twin River has about $220 million of
unrestricted cash on its balance sheet and full availability under
its $250 million revolver, both of which can be used to fund the
$120 million Juniper acquisition. There are no material debt
maturities or significant capital expenditure requirements above
maintenance levels over the next two years. The next meaningful
debt maturity is several years out, in 2024, when the company's
revolver matures. Twin River's term loan matures in 2026 and the
company's senior notes mature in 2027.

Additionally, as part of a recent amendment to TRWH's credit
agreement, until the period March 31, 2021, the company will not be
required to comply with the maximum total net leverage ratio
covenant applicable under the bank credit facility, but instead
will be required to comply with a $50 million minimum liquidity
covenant tested at the last day of each month during the leverage
ratio covenant relief period.

TRWH's ratings continue to reflect that the coronavirus pandemic
remains an overriding credit concern for the company and other
regional gaming issuers. Because there is no indication when the
pandemic will pass, TRWH's casinos are still vulnerable to future
closings and capacity restrictions that create significant earnings
uncertainty. TRWH's reopened casinos are experiencing near-term
earnings and margin benefit from limited competition from other
entertainment choices that are more restricted due to the
coronavirus. However, competition for consumer discretionary
spending from these alternate and popular entertainment choices,
including movie theaters and restaurants, will eventually return
once they increase volume and open. TRWH and other regional casino
issuers also remain vulnerable to a challenging macroeconomic
environment and the increased possibility that gaming customers
limit their spending to more essential goods and services, leaving
less for casino-type gaming, which is a highly discretionary form
of entertainment.

TRWH's ratings also reflect that leverage will vary widely within
this range over the next year because of the uncertain economic
conditions. Pro forma for the tack-on and Juniper acquisition,
debt/EBITDA based off the full fiscal year-ended 31-Dec 2019 is
5.6x. Pro forma debt/EBITDA based of the latest 12-month 30-June
2020 period, which includes several months of casino closures, was
considerably higher, at 10.3x.

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. The gaming sector has been one of the sectors
most significantly affected by the shock given its sensitivity to
consumer demand and sentiment. More specifically, the weaknesses in
TRWH's credit profile, including its exposure to travel disruptions
and discretionary consumer spending, have left it vulnerable to
shifts in market sentiment in these unprecedented operating
conditions and TRWH remains vulnerable to the outbreak continuing
to spread.

Moody's regards the coronavirus outbreak as a social risk under its
ESG framework, given the substantial implications for public health
and safety. TRWH's ratings reflect the impact on PPE of the breadth
and severity of the shock, and the broad deterioration in credit
quality it has triggered.

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

The negative outlook reflects that TRWH remains vulnerable to
unfavorable sudden shifts in discretionary consumer spending and
the uncertainty regarding the pace and sustainability at which
consumer spending at the company's properties will recover. Despite
earnings growth and margin improvement at reopened properties due
largely to headcount reductions, consumer gaming demand remains
below pre-coronavirus levels.

A higher rating can be achieved if the operating environment
improves along with revenue and earnings visibility, and TRWH
generates positive free cash flow, maintains good liquidity, and
demonstrates the ability and willingness to maintain debt/EBITDA
below 5.0x over the longer-term. Ratings could be downgraded if
earnings decline or liquidity deteriorates because of actions to
contain the spread of the coronavirus, or if consumer spending on
gaming activities weakens.

The principal methodology used in this rating was Gaming
Methodology published in October 2020.

TRWH is multi-jurisdictional owner of gaming and racing facilities,
including slot machines, VLTs and various casino table games, and
restaurants and hotel facilities. The publicly-traded company
currently manages nine casinos, two in Rhode Island, two in
Mississippi, one in Delaware, one in Missouri and three casinos as
well as a horse racetrack that has 13 authorized OTB licenses in
Colorado. Pro forma revenue for the latest 12-month period ended
30-Jun 2020 was $464 million. Pro forma revenue based off the full
fiscal year ended 31-Dec 2019 was $607 million.


ULTRA PETROLEUM: Court OKs Plan Despite Shareholders Objections
---------------------------------------------------------------
Law360 reports that a Texas bankruptcy judge confirmed the Chapter
11 plan of oil and gas producer Ultra Petroleum Corp. after more
than a week of proceedings in the case, finding that shareholders
have no chance to receive a distribution under the plan.

In a series of rulings issued Aug. 20 and Aug. 21, 2020, U.S.
Bankruptcy Judge Marvin Isgur said he would approve the plan after
hearing hours of testimony from valuation experts presented by
Ultra and shareholders fighting for a distribution under the plan.


Law360 reports that the unsecured creditors of natural gas producer
Ultra Petroleum Corp. have asked a Texas bankruptcy judge to reject
the company's Chapter 11 plan, saying it undervalues the company
and therefore cuts the money available to creditors by at least
$475 million.  In a motion filed August 1, 2020, the unsecured
creditors committee said the valuation by Ultra investment banker
Centerview Partners was "low and flawed," and would both unfairly
cram down unsecured claims while bringing a windfall for Ultra's
term lenders.

                     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.


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.


UNITI GROUP: S&P Raises ICR to 'B-'; Outlook Negative
-----------------------------------------------------
S&P Global Ratings raised the issuer credit rating on U.S. telecom
REIT Uniti Group Inc. by three notches to 'B-' from 'CCC-'. S&P has
removed all ratings from CreditWatch, where they were placed with
positive implications on March 4, 2020.

S&P is also raising the ratings on Uniti's senior secured debt to
'B' from 'CCC' and senior unsecured debt to 'CCC' from 'C'.

The stable outlook reflects S&P's view that sustained leasing
revenue from Windstream Holdings Inc. along with improved
longer-term prospects following its emergence from bankruptcy
should enable Uniti to meet its financial commitments.

Uniti has announced that its settlement with its largest tenant,
Windstream Holdings Inc., was completed.

Settlement with Windstream resolves legal claims and provides cash
flow certainty while reaffirming the tight linkage of Uniti's
credit profile to that of Windstream. The agreement secures annual
lease payments from Windstream through 2030, providing greater
visibility into Uniti's cash flows and credit quality longer term.
Although Windstream and Uniti have bifurcated the master lease
agreement (MLA) into separate agreements that govern Windstream's
incumbent local exchange carrier (ILEC) and competitive local
exchange carrier (CLEC) facilities, the aggregate annual rent under
the new leases is equal to the annual rent under the previous lease
agreement, or about $660 million plus escalators. The lease
payments account for about 80% of Uniti's EBITDA and tether its
credit profile to that of Windstream. Despite Uniti's elevated
adjusted leverage in the mid-6x area and cash flow deficits that
constrain its ability to reduce leverage, S&P believes the lease
payments from Windstream position it to address upcoming debt
maturities and increase the likelihood the company will meet its
financial commitments longer term.

Windstream's business prospects have improved following its
emergence from bankruptcy. In exchange for maintaining the annual
lease payment and granting stronger lease protections, Uniti agreed
to invest up to $1.75 billion in network upgrades in Windstream's
ILEC and CLEC territories over a 10-year period (subject to certain
underwriting standards and lease compliance). Uniti will earn an 8%
return on the amount invested in any given year to be received in
the following year and subject to an annual escalator of 0.5%. The
investments will accelerate Windstream's fiber deployment and
provide opportunities for it to grow its broadband market share,
which should help the company moderate revenue and EBITDA declines
over time, depending on how well it executes. Furthermore, in
conjunction with its debt restructuring, Windstream reduced its
adjusted leverage (which includes the Uniti lease obligation) to
the low-4x area from about 6x pre-bankruptcy. Taken together, these
factors have improved Windstream's longer-term business prospects,
making it a stronger tenant for Uniti, in S&P's view.

Capital commitments to Windstream will likely contribute to ongoing
cash flow deficits after required REIT distributions, limiting
Uniti's ability to organically reduce leverage over time. As part
of the $1.75 billion of committed growth capital, Uniti can lend up
to $125 million in lieu of growth capital investments for equipment
purchases related to network upgrades on leased assets.

S&P said, "We expect these commitments to result in elevated
capital intensity above 30% of revenue, which combined with $490
million of cash payment owed to Windstream (that can be paid
quarterly) over a five-year period to settle the litigation claims
will limit free operating cash flow (FOCF) to debt to less than 2%.
At the same time, Uniti is required to dividend 90% of its taxable
REIT income to maintain REIT status, which could result in negative
discretionary cash flow (DCF) depending on whether the company
elects to fund the distribution in cash. As a result, while we
expect EBITDA growth will lead to modest deleveraging to the low-6x
area over the next couple of years, we believe ongoing cash flow
deficits will constrain Uniti's ability to reduce leverage longer
term due to future external financing needs, in our view. Uniti has
publicly commented that it could require external funding by
2022."

S&P said, "We expect Uniti will continue to seek opportunities to
diversify its business primarily through the sale and leaseback of
fiber assets. Under the agreement with Windstream, Uniti will
acquire fiber assets and leasing rights from Windstream for about
$285 million. We view such transactions favorably because it
bolsters Uniti's revenue diversification while providing additional
lease-up opportunities that benefit earnings and cash flow. In
addition, the bifurcation of its MLA into a CLEC and ILEC lease
also creates optionally for Windstream to sell a portion of its
business and transfer the lease to another provider, which would
accelerate Uniti's diversification. If Uniti can achieve sufficient
diversification longer-term, we would consider decoupling its
issuer credit rating from that of Windstream. Based on our current
view, we could consider decoupling the ratings if EBITDA from
Uniti's non-Windstream operations, consisting mostly of its growing
fiber business, were sufficient to cover the company's fixed
charges, which we estimate at about $390 million."

"The stable outlook reflects our view that sustained leasing
revenue from Windstream and improved longer-term prospects
following its emergence from bankruptcy should enable Uniti to meet
its financial commitments."

"We could downgrade Uniti if we lowered the ratings on Windstream
because of aggressive competition or execution missteps that impair
its ability to reverse its weak operating and financial
performance. We could also lower the rating if greater competition
in Uniti's fiber business results in higher churn or pricing
pressure, leading to lower EBITDA such that leverage rises above 7x
for a prolonged period and the company's cash flow deficits deepen.
We believe these factors would likely render the capital structure
as unsustainable. We could also lower the rating if we believe the
company will face a near-term liquidity crisis, which could occur
if it is unable to refinance its revolving credit facility that
matures in mid-2022."

"We could raise the rating on Uniti if we raise the rating on
Windstream if it executes its fiber expansion strategy and
profitably captures significant broadband share in its markets
while growing EBITDA and improving FOCF. We could also raise the
rating if Uniti diversifies its earnings profile in a manner that
supports an improved view of its business. An upgrade would also be
contingent on the company demonstrating the ability to reduce
leverage below the 6x area with prospects to sustain leverage at
that level over time."


USF COLLECTIONS: Seeks to Hire Gilbert A. Lazarus, PLLC as Attorney
-------------------------------------------------------------------
USF Collections Inc. seeks authority from the United States
Bankruptcy Court for the Southern District of New York to hire the
Law Office of Gilbert A. Lazarus, PLLC, as its attorney.

Services to be rendered by the law firm are:

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

     b. attend meetings and negotiate with representatives of
creditors and other
parties-in-interest;

     c. take all necessary action to protect and preserve the
Debtor's estate, including the prosecution and defense of any
actions, negotiations concerning all litigation involving the
Debtor, and objections to claims filed against the Debtor's estate,
if any;

     d. prepare on the Debtor's behalf all motions, applications,
complaints, answers, orders, reports and papers necessary to the
administration of this case;

     e. take all necessary action on the Debtor's behalf to (i)
obtain confirmation of a plan of reorganization, (ii) negotiate any
modifications to the plan that may be required; (iii) implement all
transactions related thereto, and (iv) consummate the plan;

     f. advise the Debtor with respect to corporate matters;

     g. perform all other necessary legal services and provide all
other necessary legal advise to the Debtor in connection with this
Chapter 11 Case; and

     h. provide other general legal advice to the Debtor that may
be required in connection with this case.

The Lazarus Firm will continue to charge for services rendered to
the Debtor in accordance with its normal hourly rates.

The Lazarus Firm is a "disinterested person" as that term is
defined in section 101(14) of the Bankruptcy Code, and does not
hold or represent any interest adverse to the Debtor's estate,
according to court filings.

The firm can be reached through:

     Gilbert A. Lazarus, Esq.
     LAW OFFICE OF GILBERT A. LAZARUS, PLLC
     92-12 68th Ave.
     New York, NY 11375
     Tel: (917) 417-3795
     E-mail: Gillazarus@gmail.com

                       About USF Collections

USF Collections Inc. is an importer and wholesaler of apparel and
accessories.  USF Collections Inc. sought Chapter 11 protection
(Bankr. S.D.N.Y. Case No. 20-12085) on Sept. 8, 2020.  In the
petition signed by Ranjit Khanna, president, the Debtor had total
assets of $1,289,276 and $2,396,650 in debt as of Dec. 31, 2019.
The Debtor tapped Gilbert A. Lazarus, Esq., at Law Office of
Gilbert A. Lazarus, PLLC, as counsel.


UTEX INDUSTRIES: Case Summary & 30 Largest Unsecured Creditors
--------------------------------------------------------------
Lead Debtor: UTEX Industries, Inc.
             10810 Katy Freeway
             Suite 100
             Houston, TX 77043

Business Description:     UTEX -- https://www.utexind.com --
                          designs, manufactures, and sells
                          custom-engineered and specialty sealing
                          components, primarily for the oil and
                          gas extraction market targeting
                          drilling, completions, and production
                          activities.  The Debtors are
                          headquartered in Houston, Texas, with
                          manufacturing and technical sales
                          facilities across Texas, Oklahoma,
                          Singapore, and Malaysia, and
                          distribution centers located in Texas,
                          Pennsylvania, and Colorado.

Chapter 11 Petition Date: October 8, 2020

Court:                    United States Bankruptcy Court
                          Southern District of Texas

Twelve affiliates that concurrently filed voluntary petitions for
relief under Chapter 11 of the Bankruptcy Code:

    Debtor                                              Case No.
    ------                                              --------
    UTEX Industries, Inc.                               20-34932
    Applied Rubber Technology, Inc.                     20-34934
    Arefo Seals, Inc.                                   20-34936
    CAM Specialty Intermediate Holdings, Inc.           20-34937
    CAM Specialty Products, Inc.                        20-34938
    Duraquest, Inc.                                     20-34939
    Energy Products LLC                                 20-34940
    Industrial Sealing Solutions Holdings Inc.          20-34941
    RSH Utex Holdings, LLC                              20-34942
    UI Sealing Technologies Intermediate Holdings, Inc. 20-34943
    UTEX Holdings, Inc.                                 20-34944
    Work Manufacturing LLC                              20-34945

Debtors' Counsel:         Alfredo R. Perez, Esq.
                          WEIL, GOTSHAL & MANGES LLP
                          700 Louisiana Street, Suite 1700
                          Houston, Texas 77002
                          Tel: (713) 546-5000
                          Fax: (713) 224-9511
                          Email: Alfredo.Perez@weil.com

                            - and -

                          Matthew S. Barr, Esq.
                          Ryan Preston Dahl, Esq.
                          Gabriel Morgan, Esq.
                          Jason L. Hufendick, Esq.
                          WEIL, GOTSHAL & MANGES LLP
                          767 Fifth Avenue
                          New York, New York 10153
                          Tel: (212) 310-8000
                          Fax: (212) 310-8007
                          Email: Matt.Barr@weil.com
                                 Ryan.Dahl@weil.com
                                 Gabriel.Morgan@weil.com
                                 Jason.Hufendick@weil.com

Debtors'
Investment
Banker:                   HOULIHAN LOKEY CAPITAL, INC.
                          100 Crescent Ct., Suite 900
                          Dallas, Texas, 75201

Debtors'
Financial
Advisor:                  ALIXPARTNERS, LLP
                          909 Third Avenue
                          New York, New York 10022

Debtors'
Claims,
Noticing Agent &
Administrative
Advisor:                  OMNI AGENT SOLUTIONS
                          5955 De Soto Avenue
                          Suite 100
                          Woodland Hills, California, 91367

https://cases.omniagentsolutions.com/documents?clientid=CsgAAncz%2b6YaruJ%2fcTFc1Vl%2f22FPWFGNP6w7gGKAcgOilCshxlu6qBCXEvdSuZYFcg%2bYKNnqwwY%3d&tagid=1181

Estimated Assets
(on a consolidated basis): $100 million to $500 million

Estimated Liabilities
(on a consolidated basis): $500 million to $1 billion

The petitions were signed by Peter T. Sanchez, chief financial
officer.

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/Y63XXIY/UTEX_Industries_Inc__txsbke-20-34932__0001.0.pdf?mcid=tGE4TAMA

Consolidated List of Debtors' 30 Largest Unsecured Creditors:



   Entity                          Nature of Claim    Claim Amount
   ------                          ---------------    ------------
1. TNN Manufacturing Company Inc.    Trade Debt           $884,772
Attn.: Camtu Doan
8330 West Little York
Houston, Texas 77040
Attn.: Camtu Doan
Phone: (713) 849‐0062
Email: camtu@tnnmanufacturing.com

2. Sandong Metal Industry            Trade Debt           $526,249
Attn.: Chris Ryu
360 Dongbaek Ko Sandong Myeon
Gumisi Gyeong Buk
Gumi SI, GY
Attn.: Chris Ryu
Tel: + 82 54 977 2250
Email: smi@smi.co.kr

3. SPM Flow Control Inc.              Trade Debt          $284,391
Attn.: Steven Prenser
P.O. Box 99395
Fort Worth, Texas 76108
Tel: (817) 935-7713
Email: steven.prensner@mail.weir

4. Texas Machine‐Tool                 Trade Debt         
$279,602
International, LLC
Attn.: Tina Wilson
600 Research Avenue
Waco, Texas 60016‐3402
Attn: Tina Wilson
Tel: (254) 412-0512
Email: tina.wilson@tmiusa.com

5. Zeon Chemicals L.P.                Trade Debt          $242,707
Attn.: Betty Clark
7873 Solution Center
Chicago, Illinois 40211
Attn: Betty Clark
Tel: (800) 735-3388
Email: betty.clark@zeonchemicals.com

6. C&W International                  Trade Debt          $236,848
Fabricators, LLC
Attn.: Chris Carroll
5855 Cunningham Road
Houston, Texas 77041
Tel: (936) 697-4557
Email: chris.carroll@cwifab.net

7. Lowrance Machine Shop             Trade Debt           $166,803
Attn.: Janet Hudson
13510 East Hardy Road
Houston, Texas 77039
Tel: (281) 449-6524
Email: janet@lowrancemachine.com

8. Victrex USA, Inc.                  Trade Debt          $137,020
Attn.: Barbara Freeth
P.O. Box 409293
Atlanta, Georgia 19428
Tel: (484) 342-6027
Email: barbara.freeth@victrex.com

9. Majestic Transportation            Trade Debt          $124,586
Attn.: Megan Parmer
25025 Interstate 45, Ste. 210
The Woodlands, Texas 77380
Tel: (281) 869-8031
Email: mparmer@mjaq.conm

10. Surface Engineering               Trade Debt           $89,100
Attn.: Kayla Sauter
2895 46th Ave N
St. Petersburg, Florida 33714
Tel: (727) 528-3734
Email: ar@surfaceengineering.com

11. Dura‐Bar                          Trade Debt          
$81,080
Attn.: Christine Jackson
P.O. Box 93070
Chicago, Illinois 60098
Tel: (815) 206-7051
Email: cjackson@dura‐bar.com

12. MSC Industrial Supply Co.         Trade Debt           $78,163
Attn.: Customer Service
P.O. Box 953635
St. Louis, Missouri 77274
Attn.: Customer Services
Tel: (800) 645-7270
Email: mscindustrialsupply@msdirect.com

13. FRISA                             Trade Debt           $69,871
Attn.: Elsie Sofia Flores Bray
P.O. Box 671256
Dallas, Texas 7526
Tel: +52 81 8153 0300 ext. 2007
Email: elsie.flores@frisa.com

14. Jiangsu Oruid Petroleum           Trade Debt           $69,266
Machinery Co., Ltd.
Attn.: Cindy Jiang
No. 888, Yanqiao Rd.
Hi‐Tech Economic Zone
Jianhu County, Jiangsu
Tel: 86‐515‐80680559
Email: cindy.jiang@oruid.com.cn

15. Southern Industrial Fabrics       Trade Debt           $66,641
Attn.: Lisa Champion
Attn.: Rodney Wiggins
P.O. Box 1174
Ringgold, Georgia 30741
Attn.: Lisa Champion
Tel: (706) 861-0111
Email: siflisa@comcast.net

16. Machine Specialties Co., Inc.     Trade Debt           $58,420
Attn.: Kristin Kinnear
117 Coad St.
Fort Worth, Texas 76140
Tel: (817) 293-3488
Email: kristin.msc@att.net

17. Aviva Metals, Inc.                Trade Debt           $55,227
Attn.: Lowell Hunter
P.O. Box 679229
Dallas, Texas 77008
Tel:(713) 417-0477
Email: lhunter@avivametals.com

18. International Technology &        Trade Debt           $54,642
Mfg., Corp.
Attn.: Bruce Whitney
P.O. Box 529
Pattison, Texas 77041
Tel: (713) 849-0800
Email: brucewhitney@itmcorp.net

19. Maudlin Products                  Trade Debt           $52,649
Attn.: Becky Sprague
1929 TX‐146
Kemah, Texas 77565
Tel: (281) 532-7275
Email: bsprague@mw‐ind.com

20. Union Electric Steel Corp.        Trade Debt           $52,055
Attn.: Chris Rios
P.O. Box 643484
Pittsburgh, Pennsylvania 15106
Tel: (412) 429-7655
Email: crios@uniones.com

21. Nextgen Compounding L.L.C.        Trade Debt           $49,173
Attn.: Robin Breving
2901 Eagle Dr.
Grand Prairie, Texas 75052
Tel: (972) 602-9717
Email: robin@ngcnow.com

22. J D & Company                     Trade Debt           $47,640
Attn.: Amy Hiett
P.O. Box 818
Cleburne, Texas 76031
Tel: (817) 645-5644
Email: dcustommix@sbcglobal.net

23. Gulf Coast Spring Company         Trade Debt           $47,306
Attn.: Donna Kroll
P.O. Box 430938
Houston, Texas 77080
Tel: (713) 461-5092
Email: gulfcoastspring@comcast.net

24. P & W Sales                       Trade Debt           $39,870
Attn.: Accounting
405 N. Hwy. 135
Kilgore, Texas 75662
Tel: (903) 984-2102
Email: accounting@p‐wsales.com

25. Pinnacle Elastomeric Technology   Trade Debt           $39,498
Attn.: Susan Alexander
5272 Mountain Center Plaza
Lula, Georgia 30554
Tel: (903) 594-7232
Email: susan.alexander@pinnacleelastomers.com

26. Pitney Bowes Global               Trade Debt           $39,196
Financial Services
Attn.: Customer Service
P.O. Box 371887
Pittsburgh, Pennsylvania 30741‐8364
Tel: (844) 256-6444
Email: supportemail@pb.com

27. Fluorogistx CT, LLC               Trade Debt           $38,254
Attn.: Nathan Fredette
P.O. Box 10063
Albany, New York 19807
Tel: (302) 479-7614
Email: nathan.fredette@fluorogistx.com

28. JDS Technologies                  Trade Debt           $38,051
Attn.: Diane Slaven
P.O. Box 5240
Oneida, Tennessee 37841
Tel: (423) 286-6190
Email: dslaven@jds‐tech.com

29. Salem Tools, Inc.                 Trade Debt           $37,468
Attn.: Molly Gaughran
P.O. Box 601279
Charlotte, North Carolina 77010
Tel: (855) 882-2437
Email: mguild@salemtools.com

30. Ram Alloys, LLC                   Trade Debt           $37,029
Attn.: Nancy Miguel
Dept. 191
P.O. Box 4458
Houston, Texas 77041
Tel: (713) 466-1890
Email: nsanmiguel@ramalloys.com


VILLAGE EAST: Court Extends Plan Exclusivity Thru November 5
------------------------------------------------------------
At the behest of Village East, Inc., Judge Joan A. Lloyd of the
U.S. Bankruptcy Court for the Western District of Kentucky,
Louisville Division, extended the period in which the Debtor may
file a chapter 11 plan through and including November 5, 2020, and
to solicit acceptances for a plan through January 4, 2021.

The Debtor anticipates a going concern asset is likely to yield the
most efficient outcome for parties in interest, including its
current residents, and is presently negotiating the terms of a
"stalking horse" purchase offer from a prospective buyer. If a
party other than the Debtor proposed a chapter 11 plan during the
Debtor's marketing and sale negotiations, the uncertainty created
would certainly depress the going concern value of the bankruptcy
estate and chill the sale process.

The extension will enable the Debtor to manage a robust sale
process and develop a confirmable chapter 11 plan in conjunction
with or subsequent to a sale pursuant to 11 U.S.C. Sec. 363(b)(1).

A copy of the Debtor's Motion to Extend is available from
PacerMonitor.com at https://bit.ly/2GEY0wy at no extra charge.

A copy of the Court's Extension Order is available from
PacerMonitor.com at https://bit.ly/2SBFFD0 at no extra charge.

                       About Village East

Village East, Inc. -- https://www.villageeastcommunity.com -- is a
Kentucky nonprofit corporation that operates a senior living
community.  It offers assisted living apartments, independent
living patio homes, and apartments for seniors.  

Village East filed a voluntary petition under Chapter 11 of the
Bankruptcy Code (Bankr. W.D. Ky. Case No. 20-31144) on April 9,
2020.  In the petition signed by Tina Newman, executive director,
Debtor disclosed $8,143,599 in assets and $9,247,199 in
liabilities.  

Judge Joan A. Lloyd oversees the case. The Debtor has tapped Kaplan
Johnson Abate & Bird, LLP as its legal counsel and PMD Advisory
Services, LLC as financial analyst.

The U.S. Trustee for Region 8 appointed a committee to represent
unsecured creditors in Debtor's Chapter 11 case.  The committee is
represented by Middleton Reutlinger.


VIZIV TECHNOLOGIES: Involuntary Chapter 11 Case Summary
-------------------------------------------------------
Alleged Debtor: Viziv Technologies, LLC
                1130 Dale Acres Road
                Italy, TX 76651

Involuntary Chapter 11 Petition Date: October 7, 2020

Court: United States Bankruptcy Court
       Northern District of Texas

Case Number: 20-32554

Petitioners' Counsel: Kenneth Stohner, Jr., Esq.
                      JACKSON WALKER LLP
                      2323 Ross Avenue, Suite 600
                      Dallas, TX 75201
                      Tel: 214-953-5904
                      Email: kstohner@jw.com

Alleged creditors who signed the involuntary petition:

Petitioners                  Nature of Claim       Claim Amount
-----------                  ---------------        ------------
Surface Energy Partners LP   Promissory Note          $100,000
2828 Coral Way, Suite 500
Miami, FL 33415

Kendol C. Everroad          Promissory Notes/          $33,548
5830 Spring Hills Drive       Compensation
Midlothian, TX 76055

Jamison Partners, LP         Promissory Note         $2,873,055
1660 School Street, Suite 106D
Moraga, CA 94556

A full-text copy of the Involuntary Petition is available for free
at PacerMonitor.com at:

https://www.pacermonitor.com/view/4FUUWEA/Viziv_Technologies_LLC__txnbke-20-32554__0001.0.pdf?mcid=tGE4TAMA


WORLD CLASS: Four More Entities File for Chapter 11
---------------------------------------------------
Paul Thompson of Austin Business Journals reports that four more
entities connected to World Class Holdings filed for Chapter 11
bankruptcy protection on Oct. 6, 2020 marking at least 22
bankruptcy filings for the embattled real estate firm since
November 2019.

Among the bankruptcy filings are a trio of valuable properties
along South Congress Avenue just south of Lady Bird Lake, along
with a strip mall that was home to the recently closed Cap City
Comedy Club.

The latest bankruptcies come as World Class -- one of the largest
real estate owners in Austin, with a portfolio that spans from
prime downtown parcels to a 156-acre Northwest Austin campus once
home to 3M — has been connected to a mutiny in the office of
Texas Attorney General Ken Paxton. Seven top staffers in the AG's
office have accused Paxton of crimes including bribery and abuse of
office related to his actions on behalf of Nate Paul, the top
executive at World Class.

The Paxton allegations involving Paul add to legal and financial
troubles that have plagued World Class since the real estate firm
was raided by federal authorities in August 2019.
The four Oct. 6 bankruptcy filings introduce more complications.

The entity with the largest and most valuable holdings is WC South
Congress Square LLC, which owns three properties collectively
valued at more than $39 million: the Congress Square Apartments at
500 S. Congress Ave., valued by Travis Central Appraisal District
at $26 million; the Congress Square business center at 510 S.
Congress Ave., home to popular karaoke bar Ego's, valued by TCAD at
$6.6 million; and another building at 105 W. Riverside Dr. that is
valued at $6.7 million, according to TCAD.

Sources suggested the three properties, which total about six acres
or nearly 262,000 square feet combined, could fetch as much as $450
to $500 per square foot on the open market.
Mark Ralston of Dallas-based law firm Fishman Jackson Ronquillo
PLLC is representing all of the World Class entities in bankruptcy
court. Ralston declined comment for this story.

The Chapter 11 bankruptcy filing for WC South Congress Square lists
assets between $50 million and $100 million against liabilities
between $10 million and $50 million. A list of creditors with
unsecured claims was included with the filing, although the dollar
amount attached to each of the claims is listed as "unknown."

All three properties are a short walk from Lady Bird Lake and in
what's known as the South Central Waterfront, an area that has been
targeted for massive redevelopment, including at the
Austin-American Statesman's sprawling property.

Bankruptcies were also filed by World Class entities that own a
shopping center at 8201 to 8209 Burnet Road (WC Teakwood Plaza
LLC), a 4.3-acre parcel at 4811 S Congress Ave. (WC 4811 South
Congress LLC) and a North Austin shopping center at 8120 Research
Blvd. (WC 8120 Research LP) — where Cap City Comedy Club was
located before it closed last September 2020.

WC Teakwood Plaza lists assets between $10 million and $50 million
against liabilities between $1 million and $10 million. TCAD values
the property at $9.3 million for tax purposes.

WC 8120 Research lists assets between $10 million and $50 million
against liabilities between $1 million and $10 million. TCAD values
the property at $4.7 million for tax purposes.

WC 4811 South Congress LLC lists assets between $10 million and $50
million against liabilities between $1 million and $10 million.
TCAD values that property at $967,000 for tax purposes.

The market value is likely significantly higher, as the WC South
Congress Square LLC example above highlights.

There are at least 20 pending bankruptcy cases connected to World
Class. A federal bankruptcy court judge on Sept. 14 dismissed two
other World Class-related bankruptcies after ruling that Nate Paul
did not have the authority to file for Chapter 11 protection on
behalf of the entities.
   
                   About World Class Holdings

World Class Holdings Inc. is a multi-billion dollar holding company
established by Nate Paul in 2016 that owns a diverse portfolio of
assets and operating companies.  Paul formed World Class in 2007.
and today the company is one of the nation's largest
privately-owned real estate owners.  Its portfolio spans multiple
asset classes, including office, retail, multifamily, industrial,
hospitality, self-storage and marinas located across 17 states
nationwide.

At least 22 entities owned by World Class have sought bankruptcy
protection  since November 2019.

The most recent filings were filed Oct. 6, 2020, by WC Teakwood
Plaza LLC (Bankr. W.D. Tex. Case No. 20-11104), WC 4811 South
Congress LLC (Case No. 20-11105), WC 8120 Research LP (Case No.
20-11106), and WC South Congress Square LLC (Case No. 20-11107) .

WC Teakwood was estimated to have $10 million to $50 million in
assets and $1 million to $10 million in liabilities as of the
bankruptcy fliling.  WC 4811 South was estimated to have $10
million to $50 million in assets and $1 million to $10 million in
liabilities.  WC 8120 Research was estimated to have $10 million to
$50 million in assets and at least $1 million in debt.  WC South
Congress was estimated to have $50 million to $100 million in
assets and $10 million to $50 million in liabilities.

FISHMAN JACKSON RONQUILLO PLLC, led by Mark H. Ralston, is the
Debtors' counsel.


YAGER ENTERPRISES: Selling 2 Papa John's Franchises for $606K
-------------------------------------------------------------
Yager Enterprises, Inc., asks the U.S. Bankruptcy Court for the
District of Minnesota to authorize the sale of its two remaining
Papa John's Franchises located (i) at 1117 Cedar St., No. 135, St.
Cloud, Minnesota and (ii) at 2423 Division Street, Monticello, St.
Cloud, Minnesota, to K & M Hospitality, Inc. or its Assignee for
$605,500.

The Debtor proposes to sell its two remaining Papa John's
Franchises to the Buyer free and clear of liens, claims and
encumbrances.  These assets consist of virtually all of the
remaining assets of the Debtor.  The parties have executed their
sale contracts with Addendums.  The sale is scheduled to close on
Sept. 26, 2020.  Based on information provided by the Buyer, the
Buyer's financing expires on Sept. 27, 2020.  The sale price is
$605,500.

The terms of the sale are summarized as follows:

     a. $33,300 by Note to be owned by the corporation's owners,
Ryan Yager and Richelle Yager, as consideration for a 3-year
covenant not to compete, beginning with the date of sale.

      b. $490,500 cash

      c. $81,700 by a Note to the corporation's owners, Ryan Yager
and Richelle Yager, jointly as compensation for working at the
locations and assisting the Buyer in learning the business
operation for one year following the date of closing.  

The Debtor's assets, including the assets proposed to be sold by
the Motion are subject to primary liens and security interests in
favor of Riverwood Bank. The Debtor believes that Riverwood Bank
will support its proposed sale.

In addition, Debtor had, in early Spring 2020, applied for an
Economic Assistance Disaster Loan through the S.B.A.  It heard
nothing more about the loan application until late June 2020.  At
that time the Debtor was notified that a loan in the amount of
$95,000 has been approved and the Debtor had less than two weeks to
accept.  The Debtor was facing some unpaid administrative claims as
a result of its GNC store underperforming (the GNC franchisor has
now filed its own Bankruptcy proceeding).

Unfortunately, and without being aware that the Debtor was required
under the Bankruptcy Code to seek Court approval for any loans, and
without consulting with the Counsel, the Debtor accepted the loan
and used a portion of it to catch up administrative claims.  The
SBA loan, by its terms is junior secured loan. As such the debt
will need also to be paid off at closing of the proposed sale.  The
Debtor has or will be filing a Motion to Approve said loan Nunc Pro
Tunc to be heard concurrently with the Motion.

The Debtor has obtained a current (Aug. 7, 2020) UCC search.   The
search identifies 7 UCC filings involving the Debtor.  Entries 1,
4, 5, and 7 are to Riverwood Bank and will be satisfied upon payoff
of the Riverwood Bank claims identified.  Items 2 and 3 are the
General Nutrition Corp. ("GNC") and involve assets not part of the
proposed sale used in the operation of the Debtor's GNC franchise.
Item 6 is in favor of Papa John's USA, Inc., the Debtor's
franchisor.  This lien was terminated by the filing of a
Termination Statement on June 18, 2020.  

The Debtor believes that an orderly sale of its assets is the best
way to maximize the value and benefit the creditors and all parties
in interest.  It believes that the proposed sale will produce a
result that is superior to any other options that are currently
available.

The Debtor is asking authority to enter into the transaction and
consummate it, with liens and encumbrances attaching to the
proceeds to be received as a result of the sale.  It is proposing
that Riverwood Bank and the SBA be paid in full their secured
claims.  Upon information and belief, the Buyer has secured its
financing and conducted all, or nearly all, of the due diligence it
requires.

Finally, the Debtor asks an order from the Court providing a waiver
of the stay period imposed by Bankruptcy Rules 6004(h) and 6006(d).


A copy of the Contract is available at https://tinyurl.com/y3lkkzf7
from PacerMonitor.com free of charge.

              About Yager Enterprises Incorporated

Yager Enterprises Incorporated sought protection under Chapter 11
of the Bankruptcy Code (Bankr. D. Minn. Case No. 19-43873) on Dec.
30, 2019.  At the time of the filing, the Debtor disclosed assets
of between $500,001 and $1 million and liabilities of the same
range.  Judge Katherine A. Constantine oversees the case.  Thomas
H. Olive Law, P.A. is the Debtor's legal counsel.


[*] Bill Proposes Sweeping Changes to Protect Workers in Chapter 11
-------------------------------------------------------------------
Brian Guiney and Wolete Moko of Patterson Belknap Webb & Tyler LLP
wrote an article on JDSupra titled "Bill Proposes Sweeping Changes
to Protect Workers in Chapter 11."

On September 29, 2020, the House Judiciary Committee advanced H.R.
7370, Protecting Employees and Retirees in Business Bankruptcies
Act of 2020, a Democrat-sponsored bill, to the full chamber. If
enacted into law, the bill would usher in considerable changes in
commercial bankruptcy cases, including in the areas of executive
compensation, employee and retiree benefits, and confirmation of a
Chapter 11 plan.  Some of the more salient provisions of the bill
are listed below; for the complete text of H.R. 7370, click here.

Focus on Job Preservation

The bill proposes to:

* amend current law and establish the principal purpose of Chapter
11 to focus on the
   preservation and continuation of the business as well as the
preservation of jobs.

* expand the requirements for a rejection of Collective Bargaining
Agreements (“CBA”) such that
   the debtor can no longer unilaterally seek the rejection of a
CBA. Instead, the court must
   consider alternative proposals from the labor organization.
Furthermore, if the CBA is rejected
   or after a modified CBA is agreed upon during the bankruptcy,
the bill provides the labor
   organization the right to ask the court for an order to increase
wages and benefits based on
   changed circumstances.

* require, in considering the use, sale, or lease of property, the
court to give "substantial
   weight" to whether the purchaser or lessee of the property will
(1) preserve jobs of the
   employees, (2) maintain the terms and conditions of employment
of the employees, and (3) assume
   or match the pension and health benefit obligations to the
retirees.[1]

* prevent the court and the debtor to change the wages, working
conditions, or retirement
   benefits of an employee or a retiree of the debtor established
by a CBA that is subject to the
   Railway Labor Act except as provided for in that Act.

* provide the same committee standing to labor organizations as
other committees, such as the
   creditors committee, as to the payment of insurance benefits to
retired employees and to
   Chapter 11 plan confirmation. As such, the bill would explicitly
include labor organizations as
   an example of a creditor that may file a proof of claim.

Increased Employee and Retiree Rights

The bill would also:

* double the amount an employee can claim for wages and benefits
from $10,000 to $20,000. And
   unlike under existing law, which requires that those wages and
benefits are earned within 180
   days before the filing of the Chapter 11, the bill has no such
time restraint.

* expand the amount that a committee can claim for contributions
to an employee benefit plan from
   $10,000 to $20,000 per employee covered by the plan.

* provide a right to make a claim for stock value losses in
non-management employee pension plans
   and 401-k plans as well as for stock value losses due to
employer or plan sponsor fraud.

* add severance pay to non-management employees and contributions
to employee benefit plans as
   allowable administrative expenses with priority. It also adds
back pay, civil penalties, or
   damages for a violation of Federal or State labor and employment
law as permissible
   administrative expenses with priority.

* enable an active or retired participant in a pension plan or
labor organization representing
   the participant the ability to make a claim for any shortfall in
pension benefits. It would
   similarly enable an active or retired participant in a 401-k
plan or labor organization
   representing the participant the ability to make a claim for
right or interest in equity
   securities of the debtor.

* Under the bills provision, if there is any unpaid employee from
wages, accrued vacation,
   severance, or any other such policy or if the debtor has not
made a contribution due under an
   employee benefit plan, these unpaid sums are categorized as
necessary reasonable costs and
   expenses such that the debtor recovers the amount of the unpaid
sums to pay the employee or
   employee benefit plan.

* prevent the filing of a Chapter 11 petition from automatically
staying the
   commencement or continuation of a CBA-established dispute
resolution proceeding that was or
   could have been commenced against the debtor before the filing
of the petition.

Conditions on Management Benefits

* The bill likewise proposes certain conditions on severance and
bonus pay for management.

* The bill would prevent the establishment of a bonus program for
the benefit of management
   unless it is part of a program for all full-time employees.
Under current law, these programs
   allow for management to be given ten times the amount as
non-management. The bill would change
   this maximum allowable multiplier to two times the amount
received by non-management. The bill
   would impose similar requirements on severance pay to management
and non-management. Should
   there be any transfer of funds to management, the transfer
cannot be more than 10% what was
   typically paid to such a person before the Chapter 11
proceedings instead of the current 25%.

* The bill would prevent any plan, program, or transfer or
obligation to or for the benefit of
   management if, on or within a year of filing the Chapter 11
petition, the debtor discontinued
   any plan, program, policy, or practice of paying severance pay
to the non-management workforce
   or modified any plan, program, policy, or practice of paying
severance pay to reduce the
   benefits under the plan.

* The bill also would prevent any deferred compensation
arrangements, such as stock options, for
   management if a pension plan has been terminated within the year
preceding the Chapter 11. The
   bill would prevent retiree benefits for management if there has
been a reduction in retiree
   benefits for non-management employees or reductions in health
benefits of active employees
   within a year of the commencement of Chapter 11 proceedings.

* Under the bill, if a debtor reduced the cost of its obligations
under a CBA, a plan for retiree
   benefits, or a pension plan, the court can take the percentage
decrease of that reduction and
   use that percentage to determine the amount of executive
compensation that the debtor estate
   can recover.

Chapter 11 Plan Confirmation

Finally, the bill proposes certain additional requirements for
confirmation of a plan, including that the plan:

* continues the payment of all retiree benefits regardless of
whether there has been a
   modification to those benefits during the Chapter 11
bankruptcy.

* provides for recovery of claims from any modification of retiree
benefits as well as for the
   recovery of damages payable for the rejection of a CBA.

* requires that any purchaser of all or substantially all of the
property under the plan to (a)
   preserve jobs of the employees of the debtor, (b) maintain the
terms and conditions of
   employment of the employees of the debtor, and (c) assume or
match the pension and health
   benefit obligations of the debtor to the retirees of the
debtor.

* furthers the goals of Chapter 11 as defined by the bill: the
preservation and continuation of
   the business as well as the preservation of jobs. If there are
multiple plans, the bill would
   have the court select the plan it determines best preserves jobs
and worker interest as opposed
   to the current consideration of the preferences of creditors and
equity security holders in
   selecting the plan.

If enacted into law, H.R. 7370 would represent the most sweeping
changes to the Bankruptcy Code since the 2005 amendments ushered in
by the Bankruptcy Abuse Prevention and Consumer Protection Act
(BAPCPA) of 2005.  Senator Durbin introduced S. 4089, H.R.’s 7370
Senate-equivalent, in the Senate on June 25, 2020 (full text here).
Since then, the Republican-controlled Senate has yet to act on the
bill.

We will continue to monitor the progress of this proposed
legislation and provide further updates.  While it is too soon to
offer any concrete speculation about the bill’s future, it is not
unreasonable to posit that much of it will depend on the outcome of
the November election.

[1] Protecting Employees and Retirees in Business Bankruptcies Act
of 2020, H.R. 7370, 116th Cong. § 203(a) (2020).


[*] Philadelphia Firms That Laid Off Workers in September
---------------------------------------------------------
Kennedy Rose of Philadelphia Business Journal reports that layoffs
and furloughs in Greater Philadelphia have once again fallen,
signaling the return to work for many in the region.

The latest jobs report from the Labor Department found job creation
slowing nationwide in September. Employers brought back 661,000
jobs, far below the 1.4 million jobs added in August. The
unemployment rate in the U.S. is now at 7.9%, according to the
Bureau of Labor Statistics.

Unemployment claims in Pennsylvania hovered between 21,000 and
23,000 each week during September, setting another record low since
the beginning of the Covid-19 pandemic. Unemployment claims peaked
in the state in late March, with nearly 375,000 filing claims in
one week. Gov. Tom Wolf and local officials have been loosening
restrictions on businesses, allowing restaurants to open at 50%
capacity indoors in September.

Here are the Philadelphia-area companies that laid off or
furloughed workers last month, according to Business Journal
reporting and notices filed with state labor departments:

Retail

Century 21 filed for bankruptcy and announced that it would close
all of its remaining locations, including the store in Center City.
Fifty-five employees will be impacted by the layoffs. Century 21
said in a bankruptcy filing that a denial of $175 million in
payments from its insurance providers for protections against
pandemic-related business losses was the reason for its closure.
Century 21 also closed several stores in New Jersey.

Gap announced in September that it will close its store at 1510
Walnut St. and lay off 32 employees.

Health care

Takeda Pharmaceuticals in Exton announced in September that it
would consolidate its operations, leading to the loss of 170 jobs.
Takeda said it would also consolidate work it does at offices in
Illinois and California to move to offices it also operates in
Boston, Switzerland and Poland.  

Food and lifestyle

Asian fusion chain P.F. Chang’s extended furloughs for workers at
several Pennsylvania locations, including five in Greater
Philadelphia. P.F. Chang’s restaurants in Warrington,
Collegeville, Plymouth Meeting, Glen Mills and Tannersville will
each extend furloughs for 75 employees. Other employees have had
hours reduced by 50% due to the business downturn related to the
pandemic.

Travel and tourism

The Sonesta Philadelphia hotel announced in September that it would
extend furloughs for 121 employees at its Rittenhouse Square spot
as travelers are sparse and the tourism industry asks for
additional government aid.

American Limousine in Essington filed a Worker Adjustment and
Retraining Notification with the Pennsylvania Department of Labor
and Industry stating 12 employees would be affected by its
closure.

Education

More than 150 Aramark workers employed at La Salle University were
laid off between August and September. La Salle is primarily using
virtual instruction, leaving little work for food service employees
who work in the school’s dining halls, and now the food service
giant is operating at a limited capacity on campus until in-person
classes resume in spring 2021.






[*] Restructuring Insolvent Business With Chapter 11 Filing
-----------------------------------------------------------
Rich Fonfrias of Fronfrias Law Group LLC contributed an article to
EINPresswire titled "You Can Restructure Your Insolvent Business
With a Chapter 11 Bankruptcy."

After you file Chapter 11 Bankruptcy, you can continue to operate
your business under bankruptcy court protection while you prepare
and propose a plan of reorganization to your creditors.

In addition, you can also file a Chapter 11 Bankruptcy to sell all
or part of your business's assets, usually under the control of
your current management.

Exactly What is Chapter 11 Bankruptcy?

Chapter 11 Bankruptcy is a type of Bankruptcy that allows a
business owner to reorganize his business under the protection of
the bankruptcy court. This is usually done when the business is not
doing well financially.

Once filed, the business owner in Chapter 11 is called a "debtor in
possession." At that time, the business is allowed to operate
without a trustee until a reorganization plan is confirmed, the
case is dismissed or the case is converted to a Chapter 7
Liquidation Bankruptcy.

A Chapter 11 plan allows the owner (the debtor in possession) to
restructure the business or to sell the business assets under more
favorable terms than a Chapter 7 liquidation bankruptcy. Under a
Chapter 11 bankruptcy, the debtor and creditors can plan for an
orderly sale of assets and quicker distribution of proceeds than
would take place under Chapter 7.

A Chapter 11 bankruptcy is available to nearly any corporation,
partnership or individual.

Chapter 11 Bankruptcy Cases For An Individual

A Chapter 11 bankruptcy for an individual person is like a case
under a Chapter 13 bankruptcy.

Assets for an individual debtor include the debtor's earnings and
property the debtor acquired after Chapter 11 filing until the case
is closed, dismissed or converted.

The plan's funding may be from the debtor's future earnings. A
reorganization plan cannot be confirmed over a creditor's objection
unless the debtor commits all of his disposable income over five
years unless the reorganization plan pays the claim in full plus
interest over a shorter period of time.

You File A Disclosure Statement And Reorganization Plan

The business owner (debtor) has 120 days to file a reorganization
plan, a period which may be extended or shortened by the bankruptcy
court. When the period has expired, a creditor or the trustee may
file a competing plan.

A reorganization plan and a disclosure statement must be filed with
the bankruptcy court before the debtor may seek confirmation of the
reorganization plan. The disclosure statement must contain facts
including the debtor's assets, liabilities, and business affairs so
the creditor can make an informed judgment about the plan.

Once the disclosure statement is approved by the bankruptcy court
and the ballots are collected and checked, the court will hold a
confirmation hearing to decide whether to confirm the
reorganization plan.

Under the Bankruptcy Code, the claims are deemed to accept the plan
if the plan is accepted by creditors that hold at least 2/3 in
amount and over ½ in number of the allowed claims in the class.

If impaired classes of claims exist, the court cannot confirm a
plan unless it has been accepted by at least one class of
non-insiders who hold impaired claims.

Creditors holding unimpaired claims are considered to have agreed
to the plan.

Getting Your Bankruptcy Discharge Under A Chapter 11 Bankruptcy

Once the plan is confirmed, the debtor must make play payments and
is bound by the provisions of the reorganization plan. The
confirmed plan creates new contractual rights, superseding
pre-bankruptcy contracts. Confirmation of the plan discharges a
debtor from any debt arising before the confirmation date.

There are, of course, exceptions to the general rule that an order
confirming a plan operates as a discharge. Confirmation of a plan
of reorganization discharges any type of debtor – corporation,
partnership or individual – from most types of pre-petition
debts. It does not, however, discharge an individual debtor from
debts that cannot be discharged in a Chapter 7 or Chapter 13 case.

An individual debtor will still be liable for these debts to the
extent that they are not paid in the Chapter 11 Bankruptcy case.
The bankruptcy discharge is not available to an individual debtor
until all payments have been made under the reorganization plan.



[^] BOND PRICING: For the Week from October 5 to 9, 2020
--------------------------------------------------------
  Company                   Ticker  Coupon  Bid Price    Maturity
  -------                   ------  ------  ---------    --------
24 Hour Fitness Worldwide   HRFITW   8.000      0.250    6/1/2022
24 Hour Fitness Worldwide   HRFITW   8.000      1.296    6/1/2022
AMC Entertainment Holdings  AMC      5.750     17.270   6/15/2025
AMC Entertainment Holdings  AMC      6.125     14.694   5/15/2027
AMC Entertainment Holdings  AMC      5.875     14.877  11/15/2026
Acorda Therapeutics         ACOR     1.750     78.543   6/15/2021
American Airlines 2013-1
  Class B Pass
  Through Trust             AAL      5.625     91.050   1/15/2021
American Airlines 2013-1
  Class B Pass
  Through Trust             AAL      4.375     59.946   10/1/2022
American Energy-
  Permian Basin LLC         AMEPER  12.000      1.707   10/1/2024
American Energy-
  Permian Basin LLC         AMEPER  12.000      1.707   10/1/2024
American Energy-
  Permian Basin LLC         AMEPER  12.000      1.707   10/1/2024
BPZ Resources               BPZR     6.500      3.017    3/1/2049
Basic Energy Services       BASX    10.750     20.530  10/15/2023
Basic Energy Services       BASX    10.750     19.762  10/15/2023
Bristol Myers Squibb Co     BMY      3.950     99.886  10/15/2020
Bristol Myers Squibb Co     BMY      3.950    100.009  10/15/2020
Bristow Group Inc/old       BRS      6.250      6.095  10/15/2022
Bristow Group Inc/old       BRS      4.500      6.125    6/1/2023
Buffalo Thunder
  Development Authority     BUFLO   11.000     50.125   12/9/2022
CBL & Associates LP         CBL      5.250     38.250   12/1/2023
CEC Entertainment           CEC      8.000      5.000   2/15/2022
Calfrac Holdings LP         CFWCN    8.500     10.073   6/15/2026
Calfrac Holdings LP         CFWCN    8.500     10.046   6/15/2026
California Resources Corp   CRC      8.000      1.240  12/15/2022
California Resources Corp   CRC      6.000      1.500  11/15/2024
California Resources Corp   CRC      8.000      1.745  12/15/2022
California Resources Corp   CRC      6.000      1.398  11/15/2024
Callon Petroleum Co         CPE      6.250     40.241   4/15/2023
Callon Petroleum Co         CPE      6.125     36.074   10/1/2024
Callon Petroleum Co         CPE      6.375     27.847    7/1/2026
Callon Petroleum Co         CPE      8.250     31.372   7/15/2025
Callon Petroleum Co         CPE      6.125     38.000   10/1/2024
Callon Petroleum Co         CPE      6.125     36.500   10/1/2024
Chaparral Energy            CHAP     8.750      1.000   7/15/2023
Chaparral Energy            CHAP     8.750      3.836   7/15/2023
Chesapeake Energy Corp      CHK     11.500     14.750    1/1/2025
Chesapeake Energy Corp      CHK      5.500      3.500   9/15/2026
Chesapeake Energy Corp      CHK     11.500     14.280    1/1/2025
Chesapeake Energy Corp      CHK      5.750      4.125   3/15/2023
Chesapeake Energy Corp      CHK      7.000      3.625   10/1/2024
Chesapeake Energy Corp      CHK      6.625      3.750   8/15/2020
Chesapeake Energy Corp      CHK      4.875      3.500   4/15/2022
Chesapeake Energy Corp      CHK      8.000      3.750   6/15/2027
Chesapeake Energy Corp      CHK      8.000      3.750   1/15/2025
Chesapeake Energy Corp      CHK      7.500      4.125   10/1/2026
Chesapeake Energy Corp      CHK      8.000      3.538   3/15/2026
Chesapeake Energy Corp      CHK      8.000      3.716   1/15/2025
Chesapeake Energy Corp      CHK      8.000      3.607   6/15/2027
Chesapeake Energy Corp      CHK      8.000      3.538   3/15/2026
Chesapeake Energy Corp      CHK      8.000      3.607   6/15/2027
Chesapeake Energy Corp      CHK      8.000      3.538   3/15/2026
Chesapeake Energy Corp      CHK      8.000      3.716   1/15/2025
Chinos Holdings             CNOHLD   7.000      0.332        N/A
Chinos Holdings             CNOHLD   7.000      0.332        N/A
Chukchansi Economic
  Development Authority     CHUKCH   9.750     20.000   5/30/2020
Chukchansi Economic
  Development Authority     CHUKCH  10.250     20.000   5/30/2020
Continental Airlines
  2000-1 Class A-1 Pass
  Through Trust             UAL      8.048     96.563   11/1/2020
Continental Airlines
  2000-1 Class B Pass
  Through Trust             UAL      8.388     94.329   11/1/2020
Continental Airlines
  2012-2 Class B Pass
  Through Trust             UAL      5.500     97.244  10/29/2020
Dean Foods Co               DF       6.500      1.300   3/15/2023
Dean Foods Co               DF       6.500      1.019   3/15/2023
Diamond Offshore Drilling   DOFSQ    7.875      7.499   8/15/2025
Diamond Offshore Drilling   DOFSQ    5.700     10.000  10/15/2039
Diamond Offshore Drilling   DOFSQ    3.450      9.000   11/1/2023
Diamond Offshore Drilling   DOFSQ    4.875      9.625   11/1/2043
ENSCO International         VAL      7.200     11.500  11/15/2027
EnLink Midstream Partners   ENLK     6.000     43.500        N/A
Endologix                   ELGX     3.250     93.875   11/1/2020
Energy Conversion Devices   ENER     3.000      7.875   6/15/2013
Energy Future Competitive
  Holdings Co LLC           TXU      1.024      0.072   1/30/2037
Exela Intermediate LLC /
  Exela Finance Inc         EXLINT  10.000     31.332   7/15/2023
Exela Intermediate LLC /
  Exela Finance Inc         EXLINT  10.000     31.033   7/15/2023
Extraction Oil & Gas        XOG      7.375     26.500   5/15/2024
Extraction Oil & Gas        XOG      5.625     25.000    2/1/2026
Extraction Oil & Gas        XOG      7.375     24.333   5/15/2024
Extraction Oil & Gas        XOG      5.625     22.400    2/1/2026
FTS International           FTSINT   6.250     32.750    5/1/2022
Federal Farm Credit
  Banks Funding Corp        FFCB     2.650     99.702  10/16/2031
Federal Home Loan Banks     FHLB     2.470     99.547  10/16/2029
Federal Home Loan Mortgage  FHLMC    0.500     99.838   7/14/2023
Federal Home Loan Mortgage  FHLMC    0.600     99.887  10/14/2022
Federal Home Loan Mortgage  FHLMC    1.125     99.854  10/14/2025
Federal Home Loan Mortgage  FHLMC    1.125     99.880   4/14/2025
Federal Home Loan Mortgage  FHLMC    0.750     99.838   7/14/2025
Ferrellgas Partners LP /
  Ferrellgas Partners
  Finance Corp              FGP      8.625     21.125   6/15/2020
Ferrellgas Partners LP /
  Ferrellgas Partners
  Finance Corp              FGP      8.625     20.000   6/15/2020
Fleetwood Enterprises       FLTW    14.000      3.557  12/15/2011
Foresight Energy LLC /
  Foresight Energy
  Finance Corp              FELP    11.500      0.469    4/1/2023
Foresight Energy LLC /
  Foresight Energy
  Finance Corp              FELP    11.500      0.469    4/1/2023
Frontier Communications     FTR     10.500     43.500   9/15/2022
Frontier Communications     FTR      7.125     40.500   1/15/2023
Frontier Communications     FTR      7.625     40.000   4/15/2024
Frontier Communications     FTR      6.250     40.750   9/15/2021
Frontier Communications     FTR      9.250     39.250    7/1/2021
Frontier Communications     FTR      8.750     42.250   4/15/2022
Frontier Communications     FTR     10.500     43.138   9/15/2022
Frontier Communications     FTR     10.500     43.138   9/15/2022
GNC Holdings                GNC      1.500      1.375   8/15/2020
General Electric Co         GE       5.000     79.925        N/A
Global Marine               GLBMRN   7.000     17.077    6/1/2028
Goodman Networks            GOODNT   8.000     43.000   5/11/2022
Great Western Petroleum
  LLC / Great Western
  Finance Corp              GRTWST   9.000     58.001   9/30/2021
Great Western Petroleum
  LLC / Great Western
  Finance Corp              GRTWST   9.000     57.946   9/30/2021
Grizzly Energy LLC          VNR      9.000      6.000   2/15/2024
Grizzly Energy LLC          VNR      9.000      6.000   2/15/2024
Hertz Corp/The              HTZ      6.250     44.000  10/15/2022
Hi-Crush                    HCR      9.500      3.994    8/1/2026
Hi-Crush                    HCR      9.500      7.180    8/1/2026
High Ridge Brands Co        HIRIDG   8.875      2.672   3/15/2025
High Ridge Brands Co        HIRIDG   8.875      2.672   3/15/2025
HighPoint Operating Corp    HPR      7.000     24.506  10/15/2022
HighPoint Operating Corp    HPR      8.750     25.320   6/15/2025
ION Geophysical Corp        IO       9.125     69.814  12/15/2021
ION Geophysical Corp        IO       9.125     69.506  12/15/2021
ION Geophysical Corp        IO       9.125     69.506  12/15/2021
ION Geophysical Corp        IO       9.125     69.506  12/15/2021
International Wire Group    ITWG    10.750     89.250    8/1/2021
International Wire Group    ITWG    10.750     88.750    8/1/2021
J Crew Brand LLC /
  J Crew Brand Corp         JCREWB  13.000     54.976   9/15/2021
JC Penney                   JCP      6.375      0.850  10/15/2036
JC Penney                   JCP      7.400      0.884    4/1/2037
JC Penney                   JCP      5.875     30.625    7/1/2023
JC Penney                   JCP      7.625      0.430    3/1/2097
JC Penney                   JCP      8.625      2.250   3/15/2025
JC Penney                   JCP      5.875     30.714    7/1/2023
JC Penney                   JCP      7.125      0.875  11/15/2023
JC Penney                   JCP      8.625      2.500   3/15/2025
JCK Legacy Co               MNIQQ    6.875      0.498   3/15/2029
JCK Legacy Co               MNIQQ    7.150      1.642   11/1/2027
JCK Legacy Co               MNIQQ    6.875     11.000   7/15/2031
Jackson National Life
  Global Funding            JACLIF   0.575    100.001  10/15/2020
Jonah Energy LLC / Jonah
  Energy Finance Corp       JONAHE   7.250      3.250  10/15/2025
Jonah Energy LLC / Jonah
  Energy Finance Corp       JONAHE   7.250      3.259  10/15/2025
K Hovnanian Enterprises     HOV      5.000     10.780    2/1/2040
K Hovnanian Enterprises     HOV      5.000     10.780    2/1/2040
L Brands     LB       6.625    102.014    4/1/2021
LSC Communications          LKSD     8.750     16.063  10/15/2023
LSC Communications          LKSD     8.750     15.702  10/15/2023
LegacyTexas Financial
  Group Inc                 LTXB     5.500     95.600   12/1/2025
Liberty Media Corp          LMCA     2.250     47.125   9/30/2046
Lonestar Resources America  LONE    11.250     14.694    1/1/2023
Lonestar Resources America  LONE    11.250     15.721    1/1/2023
MAI Holdings                MAIHLD   9.500     16.308    6/1/2023
MAI Holdings                MAIHLD   9.500     16.308    6/1/2023
MAI Holdings                MAIHLD   9.500     16.308    6/1/2023
MBIA Insurance Corp         MBI     11.535     27.767   1/15/2033
MBIA Insurance Corp         MBI     11.535     27.767   1/15/2033
MF Global Holdings Ltd      MF       6.750     15.625    8/8/2016
MF Global Holdings Ltd      MF       9.000     15.625   6/20/2038
Mashantucket Western
  Pequot Tribe              MASHTU   7.350     16.000    7/1/2026
Medtronic                   MDT      2.750    103.672    4/1/2023
Men's Wearhouse Inc/The     TLRD     7.000      2.000    7/1/2022
Men's Wearhouse Inc/The     TLRD     7.000      1.534    7/1/2022
NWH Escrow                  HARDWD   7.500     41.281    8/1/2021
NWH Escrow                  HARDWD   7.500     41.281    8/1/2021
Nabors Industries           NBR      0.750     28.750   1/15/2024
Nabors Industries           NBR      5.500     52.780   1/15/2023
Neiman Marcus Group         NMG      7.125      3.991    6/1/2028
Neiman Marcus Group
  LTD LLC / Neiman Marcus
  Group LLC / Mariposa
  Borrower / NMG            NMG      8.000      4.750  10/25/2024
Neiman Marcus Group
  LTD LLC / Neiman Marcus
  Group LLC / Mariposa
  Borrower / NMG            NMG     14.000     27.250   4/25/2024
Neiman Marcus Group
  LTD LLC / Neiman Marcus
  Group LLC / Mariposa
  Borrower / NMG            NMG      8.750      5.149  10/25/2024
Neiman Marcus Group
  LTD LLC / Neiman Marcus
  Group LLC / Mariposa
  Borrower / NMG            NMG     14.000     27.250   4/25/2024
Neiman Marcus Group
  LTD LLC / Neiman Marcus
  Group LLC / Mariposa
  Borrower / NMG            NMG      8.000      4.688  10/25/2024
Neiman Marcus Group
  LTD LLC / Neiman Marcus
  Group LLC / Mariposa
  Borrower / NMG            NMG      8.750      5.149  10/25/2024
Neiman Marcus Group Ltd     NMG      8.000     58.750  10/15/2021
Neiman Marcus Group Ltd     NMG      8.750     53.625  10/15/2021
Neiman Marcus Group Ltd     NMG      8.000     58.750  10/15/2021
Neiman Marcus Group Ltd     NMG      8.750     53.625  10/15/2021
Nine Energy Service         NINE     8.750     29.742   11/1/2023
Nine Energy Service         NINE     8.750     29.822   11/1/2023
Nine Energy Service         NINE     8.750     30.256   11/1/2023
Northrop Grumman Corp       NOC      2.080     99.923  10/15/2020
Northwest Hardwoods         HARDWD   7.500     35.750    8/1/2021
Northwest Hardwoods         HARDWD   7.500     35.250    8/1/2021
OMX Timber Finance
  Investments II LLC        OMX      5.540      0.573   1/29/2020
Oasis Petroleum             OAS      6.875     26.500   3/15/2022
Oasis Petroleum             OAS      6.875     26.500   1/15/2023
Oasis Petroleum             OAS      6.250     23.202    5/1/2026
Oasis Petroleum             OAS      2.625     25.750   9/15/2023
Oasis Petroleum             OAS      6.500     22.226   11/1/2021
Oasis Petroleum             OAS      6.250     24.500    5/1/2026
Optimas OE Solutions
  Holding LLC / Optimas
  OE Solutions Inc          OPTOES   8.625     65.250    6/1/2021
Optimas OE Solutions
  Holding LLC / Optimas
  OE Solutions Inc          OPTOES   8.625     64.934    6/1/2021
Party City Holdings         PRTY     6.125     24.750   8/15/2023
Party City Holdings         PRTY     6.125     36.268   8/15/2023
Peabody Energy Corp         BTU      6.000     53.228   3/31/2022
Peabody Energy Corp         BTU      6.000     53.048   3/31/2022
Pride International LLC     VAL      7.875     10.125   8/15/2040
Pride International LLC     VAL      6.875      9.000   8/15/2020
Renco Metals                RENCO   11.500     24.875    7/1/2003
Revlon Consumer Products    REV      5.750     33.663   2/15/2021
Revlon Consumer Products    REV      6.250     14.026    8/1/2024
Rolta LLC                   RLTAIN  10.750      4.458   5/16/2018
SESI LLC                    SPN      7.125     26.730  12/15/2021
SESI LLC                    SPN      7.750     27.971   9/15/2024
SESI LLC                    SPN      7.125     28.205  12/15/2021
SanDisk LLC                 SNDK     0.500     97.630  10/15/2020
SandRidge Energy            SD       7.500      0.500   2/15/2023
Sears Holdings Corp         SHLD     6.625      4.105  10/15/2018
Sears Holdings Corp         SHLD     6.625      4.026  10/15/2018
Sears Roebuck Acceptance    SHLD     7.500      0.982  10/15/2027
Sears Roebuck Acceptance    SHLD     6.500      0.688   12/1/2028
Sears Roebuck Acceptance    SHLD     7.000      0.463    6/1/2032
Sears Roebuck Acceptance    SHLD     6.750      0.650   1/15/2028
Sempra Texas Holdings Corp  TXU      5.550     13.500  11/15/2014
Senseonics Holdings         SENS     5.250     45.750    2/1/2023
Summit Midstream Partners   SMLP     9.500     13.875        N/A
TerraVia Holdings           TVIA     5.000      4.644   10/1/2019
Tesla Energy Operations     TSLAEN   3.600     96.016   11/5/2020
Tilray                      TLRY     5.000     41.300   10/1/2023
Transworld Systems          TSIACQ   9.500     27.000   8/15/2021
Ultra Resources Inc/US      UPL     11.000      5.750   7/12/2024
Voyager Aviation
  Holdings LLC /
  Voyager Finance Co        VAHLLC   8.500     52.115   8/15/2021
Voyager Aviation
  Holdings LLC /
  Voyager Finance Co        VAHLLC   8.500     51.299   8/15/2021



                            *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

TCR subscribers have free access to our on-line news archive.
Point your Web browser to http://TCRresources.bankrupt.com/and use
the e-mail address to which your TCR is delivered to login.

                            *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,
Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
Fernandez, Christopher G. Patalinghug, and Peter A. Chapman, Editors.

Copyright 2020.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
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herein is obtained from sources believed to be reliable, but is
not guaranteed.

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