/raid1/www/Hosts/bankrupt/TCR_Public/201102.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, November 2, 2020, Vol. 24, No. 306

                            Headlines

2017 IAVF WINDY: ACG Buying Substantially All Assets for $39M
2231 BRANT: Hires Flavia Berys as Real Estate Broker
232 SEIGEL: ER 215 Moore Objects to Plan & Disclosure Statement
232 SEIGEL: Plan Says Creditors to Be Paid From Sale Proceeds
232 SEIGEL: Senior Lender Questions $18-Mil. Sale Deal

305 EAST: Buyer Sets Protocol for Removal of Spa's Personal Propty.
7 GENERAL: Hydro Buying Komatsu HM300-2 Off Road Truck for $20K
ADETONA LLC: Case Summary & 4 Unsecured Creditors
ADVANCED MICRO: S&P Places 'BB+' ICR on CreditWatch Positive
ANCELLOTTA LLC: Has Until Nov. 16 to File Plan & Disclosures

AVANTOR INC: S&P Assigns 'BB-' Rating to New Senior Secured Notes
AVIANCA HOLDINGS: Hires Quinn Emanuel as Special Counsel
BC CHALET: U.S. Trustee Unable to Appoint Committee
BELLANO JEWELERS: Plan Confirmation Order Entered
BEST VIEW: Loves Buying Six Canyon County Parcels for $4.2 Million

BORDEN DAIRY: Seeks Court Approval for the $1.4M Shareholder Deal
BOUCHARD TRANSPORTATION: Cain Represents Dunham Claimants
BRANDED APPAREL: Case Summary & 20 Largest Unsecured Creditors
BULLSHARK INC: Jason's Deli Franchisee in Chapter 11
C&D TECHNOLOGIES: Moody's Affirms B3 Corp. Family Rating

CABLE ONE: Moody's Rates $500MM Senior Unsecured Notes 'B2'
CALIFORNIA PIZZA: Court OKs Plan to Cut Debt by $225M
CALIFORNIA PIZZA: Unsecureds to Recover 3.0% to 8.2% in Plan
CALLAWAY GOLF: S&P Puts 'B+' ICR on Watch Negative on Topgolf Deal
CANADIAN WESTERN: DBRS Gives Prov. BB(high) on AT1 Capital Notes

CAPITAL TRUCK: Nextran Buying All Assets for $1.76 Million
CARRIAGE SERVICES: S&P Alters Outlook to Stable, Affirms 'B' ICR
CATALENT INC: S&P Upgrades ICR to 'BB' on Biologics Growth
CBAV1 LLC: Case Summary & 20 Largest Unsecured Creditors
CEC ENTERTAINMENT: Gets Creditors' Support Debt-for-Equity Plan

CLAIRE E. GRUPPO: Proposes Swann Auction Sale of Artwork
COMCAR INDUSTRIES: C&D Logistics Buying Low Value Assets for $19K
COMCAR INDUSTRIES: C&D Logistics Buying Low Value Assets for $20K
COMCAR INDUSTRIES: Reaches Final Sale Deal With Creditors
COMCAR INDUSTRIES: Tankstar Buying Low Value Assets for $467K

COMMUNITY HEALTH: Posts $112 Million Net Income in Third Quarter
CORALVILLE, IA: S&P Affirms 'BB+' GO Bonds Rating
COSMOLEDO LLC: Sale of Maison Kayser to Aurify Has Interim Approval
DEPENDABLE BUILDING: Status Hearing to Be Held Nov. 5.
DIAMOND SPORTS: S&P Places 'BB-' ICR on CreditWatch Negative

DIOCESE OF ROCKVILLE: Hires Epiq as Administrative Agent
DLT RESOLUTION: Reports $77,000 Net Loss for Quarter Ended June 30
DOLPHIN ENTERTAINMENT: Has $2.9-Mil. Net Loss for June 30 Quarter
DPL INC: S&P Alters Outlook to Developing From Negative
DPW HOLDINGS: Establishes Alliance Cloud Services

DRIVE SHACK: Has $39.5-Mil. Net Loss for Quarter Ended June 30
EAGLE PIPE: Sets Bidding Procedures for Substantially All Assets
EAST CAROLINA COMMERCIAL: Selling 2018 Yamaha 242 Boat for $57K
ELGOT SALES: Royal Green Buying Sales Contracts for $55K
ENERGY FISHING: U.S. Trustee Unable to Appoint Committee

ENERGY FOCUS: Has $4.3-Mil. Net Loss for Quarter Ended June 30
EQT CORP: S&P Hikes Issuer Credit Rating to 'BB'; Outlook Stable
EVERGLADES ADVENTURE: Hires Consumer Law Attorneys as Counsel
EVIO INC: Recurring Losses Cast Substantial Going Concern Doubt
EXACTUS INC: Reports $1.7M Net Loss for Quarter Ended June 30

EXTRACTION OIL: Reports $291.9M Net Loss for the June 30 Quarter
FETCH HOLDCO: S&P Alters Outlook to Stable, Affirms 'B-' ICR
FL SUNSHINE: Case Summary & 20 Largest Unsecured Creditors
FLUSHING LANDMARK: Case Summary & 8 Unsecured Creditors
FRONTLINE TECHNOLOGY: Case Summary & 15 Unsecured Creditors

GAUCHO GROUP: Holders OK Amendment to Certificate of Designation
GOODRX INC: Moody's Hikes CFR to B1, Outlook Stable
GTT COMMUNICATIONS: Inks Forbearance Pacts w/ Noteholders & Lenders
GULFSLOPE ENERGY: Provides Update on Corporate Activities
HAWAII MOTORSPORTS: Plan Set Aside; Seeks Chapter 7

HENRY FORD VILLAGE: Files for Bankruptcy Protection
HERTZ GLOBAL: Wins Court Approval for $1.65 Billion Loan
HORTON INVESTMENTS: Hires Link Realty as Real Estate Broker
IMMUNE PHARMACEUTICALS: TSP Buying Remaining Assets for $150K
INSPIRED CONCEPTS: Creditors Committee Negotiates 17.5% Plan

INSPIRED CONCEPTS: UST Opposes Plan, Seeks Case Dismissal
J & R VALLEY: Mission Vacuum Selling Various Assets
J & R VALLEY: Sarreal Buying 20 Pickups for $60K
JAMROCK CONSTRUCTION: Hires Rothbloom Law Firm as Counsel
JM BROWN: Awaits Boneyard Plan; Hearing Deferred to Nov. 19

KAUMANA DRIVE: Seeks Approval to Hire KDL CPAs as Accountant
KB US HOLDING: Committee Hires AlixPartners as Financial Advisor
KETTNER INVESTMENTS: Hires Procopio Cory as Special Counsel
LABL INC: S&P Upgrades ICR to 'B'; Outlook Negative
LESLIE'S POOLMART: S&P Places 'B' ICR on CreditWatch Positive

LIBBEY INC: Nearing Emergence From Bankruptcy
LIVEXLIVE MEDIA: To Acquire E-Commerce Merchandie Company
LOWERY'S SEAFOOD: Restaurant Seeks Chapter 7 Liquidation
M&K ROGERS: Disclosure Statement Approved; Plan Hearing Nov. 10
M&K ROGERS: Independent Bank Objects to Disclosure Statement

M&K ROGERS: Resolves IB Disclosure Objections
MACY'S INC: To Open Smaller Stores Outside Malls
MAD MEN MARKETING: Hires Tax Advantage as Accountant
MALLINCKRODT PLC: Buxton Seeks Appointment of Equity Committee
MALLINCKRODT PLC: Cousins, Jones Represent OCM Luxembourg, Diameter

MALLINCKRODT PLC: U.S. Trustee Appoints Creditors' Committee
MALLINCKRODT PLC: US Trustee Appoints Opioid Claimants' Committee
MARTIN CONSTRUCTION: Hires Fritz Law Firm as Counsel
MERITAGE COMPANIES: Hires Banker Residential as Realtor
METRONOMIC HOLDINGS: Hires Weiss Serota as Counsel

MOMBO LLC: Sets Bidding Procedures for Substantially All Assets
MOTIV8 INVESTMENTS: Bagamaspad Buying Alhambra Property for $850K
NORDSTROM INC: DBRS Lowers Issuer Rating to BB, Trend Negative
NPHSS LLC: Unsecureds to Recover 50% Under Creditors' Plan
NS8 INC: Court Gives Approval to Tap $4M of $10M DIP Loan

P&L DEVELOPMENT: Moody's Rates $415MM Senior Secured Notes 'B3'
PACIFIC DRILLING: Case Summary & 30 Largest Unsecured Creditors
PANIOLO CABLE: Govt. Fights Sandwich Bid for $200M in FCC Money
PAUL T. VON NESSI: Selling West Orange Property for $415K
PENSKE AUTOMOTIVE: S&P Alters Outlook to Stable, Affirms 'BB' ICR

PG&E CORP: CEO Resigns After Helping Company Steer Bankruptcy
PG&E CORP: Nears Win of Chapter 11 Appeal After No-Show of Lawyer
PIERCE CONTRACTORS: No Plan Filed; Status Conference on Nov. 12
PYROLUX USA INDIANA: Files for Chapter 7 Liquidation
QUANTUM CORP: Incurs $4.6 Million Net Loss in Second Quarter

REXFORD INDUSTRIAL: S&P Assigns 'BB+' Rating on Preferred Stock
RTI HOLDING: Hires Epiq as Claims and Noticing Agent
RUBEN J. RODRIGUEZ: Selling Fort Lupton Property to E&J for $1.1M
S LOT: Stephen Starr's Upland Miami Restaurant in Chapter 11
SIMPLE SITEWORK: U.S. Trustee Unable to Appoint Committee

SMYRNA READY: Moody's Rates $515MM Senior Secured Notes 'B1'
SPEEDBOAT JV: Hires St. James Law as Chapter 11 Counsel
SUNPOWER CORP: Posts $44.6 Million Net Income in Third Quarter
SUPERIOR AIR: Brown & Glickman Object to Plan & Disclosure
SUPERIOR AIR: Court Confirms Chapter 11 Plan

TATE'S AUTO: FTC Forces Dealerships to Shut on Falsified Loans
TEMPSTAY INC: Debtor's Plan & Disclosures Approved
TEMPSTAY INC: Unsecured Creditors to Recover 25% Over 5 Years
THE PAPER STORE: Emerged From Bankruptcy in September
TIKRAN ERITSYAN: Yeghiazaryan Bids $600K for Granada Property

TOBACCO SETTLEMENT: S&P Affirms CCC- (sf) Rating on 2007B Bonds
TONOPAH SOLAR: Disclosures Okayed; Plan Hearing Moved to Nov. 20
TONOPAH SOLAR: Responds to Objection of SolarReserve and CMB
TONOPAH SOLAR: SolarReserve & CMB Say Plan Unconfirmable
TONOPAH SOLAR: Unsecureds Owed $770,000 to Recover 100% in Plan

TOPGOLF INTERNATIONAL: S&P Places 'CCC+' ICR on Watch Positive
TRAVEL CONCEPTS: Hires Carrasquillo as Financial Consultant
TUESDAY MORNING: Panel Resolicitation Questionnaire Due by Nov. 4
TUPPERWARE BRANDS: Posts $34.4 Million Net Income in Third Quarter
UNIT CORP: David Merrill Resigns as CEO

UNIT CORP: Emerged from Bankruptcy in September
VALARIS PLC: Asks Court to Deny Bid to Appoint Equity Committee
VICTORIA TOWERS: Case Summary & 6 Unsecured Creditors
VIVUS INC: Equity Committee Taps Skadden Arps as Co-Counsel
WATERS RETAIL: Court Confirms Plan of Liquidation

WATERS RETAIL: Diocese & Pension Object to MQs' Disclosures
WATERS RETAIL: MQs' Unsecureds to Recover 75% in Liquidating Plan
WEST PACE: Debtor Proposes Reorganization Plan
WEST PACE: Indenture Trustee Files Liquidating Plan
WEST PACE: Says U.S. Bank Plan Not Filed in Good Faith

WHOA NETWORKS: Case Summary & 20 Largest Unsecured Creditors
WILDCATTER DISPOSAL: Seeks to Hire Higier Allen as Special Counsel
WILDCATTER DISPOSAL: Taps Pronske & Kathman as Legal Counsel
WILLCO XII: U.S. Trustee Unable to Appoint Committee
WRENCH GROUP: Moody's Rates $100MM Term Loan Add-On 'B2'

WRENCH GROUP: S&P Alters Outlook to Negative, Affirms 'B' ICR
YOGAWORKS INC: U.S. Trustee Appoints Creditors' Committee
YOUNGEVITY INTERNATIONAL: Board OKs Appointment of New Auditor
YOUNGEVITY INTERNATIONAL: W. Thompson Named Chief Financial Officer
ZERO ENERGY: Odyssey Buying Boulder Hangar for $670K

[*] 2nd Cir. Affirms Flip Provisions in Swap Agreements
[*] Bankruptcy FAQ: Options for Distressed Businesses
[*] Commercial Bankruptcies Soar by 78% in September 2020
[^] BOND PRICING: For the Week from October 26 to 30, 2020

                            *********

2017 IAVF WINDY: ACG Buying Substantially All Assets for $39M
-------------------------------------------------------------
2017 IAVF Windy City Fox Run, LLC, and affiliates ask the U.S.
Bankruptcy Court for Northern District of Illinois to authorize the
bidding procedures in connection with the sale of substantially all
assets to ACG Iowa Acquisitions LLC for $39 million, subject to
overbid.

Over the past nine months, in light of their on-going financial
instability, the Debtors have been actively involved in negotiating
a transaction that would transfer ownership of the Property and
allow an infusion of new capital to rehabilitate the Property.
Over the marketing period, the Debtors have received five letters
of interest for the purchase of the Property.  The various offers
ranged from $25 million to $39 million, with extreme variations on
contingencies and due diligence requirements for the LOIs.

After months of negotiations, in consultation with the Trustee
under the Indenture, the Debtors entered into a stalking horse bid
with ACG.  ACG is an unrelated third party and has offered to buy
the Property free and clear of liens, claims and encumbrances for
$39 million as adjusted for customary closing costs.  The Debtors
also intend to hire Marcus & Millichap as a real estate broker to
further market the Property during the bankruptcy cases.  The Buyer
has made a $400,000 deposit.

The Assets include the improved real property consisting of 528 low
income housing units comprised of (i) the Fox Run Property located
in St. Charles, Illinois, (ii) the Shaddle Property located in
Mundelein, Illinois, (iii) the Villa Brook Property located in
Addison, Illinois, and (iv) the Parkside Property located in Glen
Ellyn, Illinois.

By the Motion, the Debtors ask entry of the Bid Procedures Order:
(i) authorizing and approving the Bid Procedures for competitive
bidding in connection with the Sale; (ii) approving the form and
manner of the Sale Notice, the Auction if necessary, the Sale
Hearing, and related matters; (iii) authorizing and approving the
Stalking Horse Bidder, including the Debtor's ability to grant
customary Bid Protections to the Stalking Horse Bidder; and (iv)
approve the proposed deadlines.

By the Motion, they also ask entry of the Sale Order at the
conclusion of the Sale Hearing authorizing and approving the Sale
on the terms substantially set forth in the Agreement to the
Stalking Horse Bidder or a successful bidder arising from the
Auction, if any.

The salient terms of the Bidding Procedures are:

     a. Bid Deadline: Dec. 2, 2020

     b. Initial Bid: Must equal or exceed the sum of: (A) cash in
the amount of $39 million; plus (B) $100,000 in cash; plus (C) The
Break-Up Fee and Expense Reimbursement

     c. Deposit: 5% of the bid

     d. Auction: The Auction will be held on Dec. 4, 2020 at the
offices of Clark Hill PLC, located at 130 E. Randolph Street, Suite
3900, Chicago, Illinois 60601 (or such other designated location),
or via video conference, if necessary.

     e. Bid Increments: $50,000

     f. Sale Hearing: Dec. 15, 2020 at 11:00 a.m. (CT)

     g. Sale Objection Deadline: Dec. 14, 2020

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

     i. Bid Protections: In the event that the Debtors accept a
Successful Bid for some or all of the Property in accordance with
the Bid Procedures other than an overbid by the Stalking Horse
Bidder for all of the Property, the Stalking Horse Bidder will be
entitled to: (i) a break-up fee in cash of 2% of the Purchase
Price, (ii) return of the Earnest Money, and (iii) any properly
documented, reasonable costs and expenses incurred by the Stalking
Horse Bidder in negotiating and documenting the Proposed
Transaction in an amount up to $200,000, in the event an
alternative sale or other transaction disposing of some or all of
the Property (whether through a sale or plan of reorganization) is
approved by the Bankruptcy Court that is not the Sale of all of the
Property as set forth in the Agreement.

     j. The Trustee will be allowed to credit bid for the Property
at any auction held in the Bankruptcy Case, subject to any valid
liens or claims of greater priority.

The Bid Procedures recognize the Debtors' fiduciary obligations to
maximize sale value, and, as such, do not impair their ability to
consider all qualified bid proposals, and preserve their right to
modify the Bid Procedures as necessary or appropriate to maximize
value.

Within three business days of entry of the Bid Procedures Order,
the Debtors will cause the Sale Notice to be served on the Sale
Notice Parties.

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

A hearing on the Motion is set for Oct. 20, 2020 at 11:00 a.m.
(CT).  The Objection Deadline is two business days before that
date.

A copy of the Bidding Procedures and the LOI is available at
https://tinyurl.com/y297qo8s from PacerMonitor.com free of charge.

              About 2017 IAVF Windy City Fox Run

On Oct. 7, 2020, 2017 IAVF Windy City Fox Run, LLC (Bankr. N.D.
Ill. Case No. 20-18377, Lead Case) and affiliates 2017 IAVF Windy
City Parkside LLC (Bankr. N.D. Ill. Case No. 20-18379), 2017 IAVF
Windy City Shaddle LLC (Bankr. N.D. Ill. Case No. 20-18380), and
2017 IAVF Windy City Villa Brook LLC (Bankr. N.D. Ill. Case No.
20-18381) sought Chapter 11 protection.  The cases are assigned to
Judge Carol A. Doyle.

Each of the Debtors has estimated assets in the range of $10
million to $50 million and $50 million to $100 million in debt.

The Debtors tapped Kevin H. Morse, Esq., at Clark Hill PLC as
counsel.

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


2231 BRANT: Hires Flavia Berys as Real Estate Broker
----------------------------------------------------
2231 Brant St. LLC, seeks authority from the U.S. Bankruptcy Court
for the Southern District of California to employ Flavia Berys, as
real estate broker to the Debtor.

2231 Brant requires Flavia Berys to market and sell the Debtor's
real property located at 2231 Brant St., San Diego, CA 92101.

Flavia Berys will be paid a commission of 1% of the sales price.

Flavia Berys 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.

                       About 2231 Brant St.

2231 Brant Street, LLC, based in San Diego, CA, filed a Chapter 11
petition (Bankr. S.D. Cal. Case No. 20-04319) on Aug. 28, 2020.  In
the petition signed by Patricia Daniela Gomez, managing member, the
Debtor was estimated to have $1 million to $10 million in assets
and $500,000 to $1 million in liabilities.  BANKRUPTCY LAW CENTER,
serves as bankruptcy counsel to the Debtor.


232 SEIGEL: ER 215 Moore Objects to Plan & Disclosure Statement
---------------------------------------------------------------
215 ER Moore Holdings LLC (Moore LLC), an indirect member of
Debtors 232 Seigel Acquisition LLC (232 Acquisition) and 232 Seigel
Development LLC (232 Development), objects to confirmation of 232
Development's Plan of Reorganization and adequacy of 232
Acquisition's Disclosure Statement.

Moore LLC objects to confirmation of 232 Development's Plan and
approval of the 232 Acquisition Disclosure Statement on the grounds
that, like the filing of the bankruptcy cases, the Debtors failed
to seek authorization from Moore LLC prior to attempting to sell
the Seigel Property.

Moore LLC claims that the Northside Operating Agreement requires
the prior consent of Moore LLC for any Major Decision, which
consent is not to be unreasonably withheld. The only exceptions
being physical real estate development decisions such as size and
scope of the project.

Moore LLC claims that the Debtors needed to obtain consent from
Moore LLC before attempting to sell the Seigel Property. Moore LLC
did not give its consent. The Debtors' Plans should not be
considered because the Debtors did not have any authority to
propose the Plans.

Moore LLC asserts that there is no showing of a good faith
commitment by either the Debtors or the Proposed Purchaser to close
on the PSA.

Moore LLC requests that if the Debtors are going to remain in
chapter 11 that the Court condition the continued cases on the
Debtors' conducting an honest sale process for the sale of the
Seigel Property.

A full-text copy of Moore LLC's objection to Plan and Disclosure
Statement dated October 2, 2020, is available at
https://tinyurl.com/yxt9jk9z from PacerMonitor at no charge.

Counsel to ER 215 Moore:

          GOULSTON & STORRS PC
          400 Atlantic Avenue
          Boston, Massachusetts 02110-3333
          Tel: (617) 482-1776
          Fax: (617) 574-4112
          Douglas B. Rosner, Esq.
          885 Third Avenue, 18th Floor
          New York, New York 10022
          Tel: (212) 878-6900
          Fax: (212) 878-6911
          Yara Kass-Gergi, Esq.

                  About 232 Seigel Acquisition

232 Seigel Acquisition classifies its business as Single Asset Real
Estate (as defined in 11 U.S.C. Section 101(51B)). 232 Seigel
Acquisition is the owner of fee simple title to certain real
property in Brooklyn, New York, having a comparable sale value of
$18 million.

232 Seigel Development LLC and 232 Seigel Acquisition LLC sought
Chapter 11 protection (Bankr. S.D.N.Y. Case No. 20-22844 to
20-22845) on July 14, 2020.

232 Seigel Acquisition disclosed total assets of $18,000,000 and
total liabilities of $7,112,316.

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

The Debtors tapped Mark Frankel, Esq., at BACKENROTH FRANKEL &
KRINSKY, LLP, as counsel.


232 SEIGEL: Plan Says Creditors to Be Paid From Sale Proceeds
-------------------------------------------------------------
232 Seigel Acquisition LLC filed with the U.S. Bankruptcy Court for
the Southern District of New York a Disclosure Statement describing
Plan of Reorganization.

The Debtor owns the real property at 232 Seigel Street, Brooklyn,
New York (the "Property") valued at $18,000,000 based on the
February 26, 2020 purchase and sale agreement with 232 Seigel
Property, LLC (the "Purchaser"). The Property is an assemblage of
properties with approved plans to develop full-service hotel with
150 rooms with amenities, community space, parking and other
features.

The Plan proposes to sell the Property under the Contract of Sale
subject to higher and better offers, with the Sale Proceeds to be
distributed to creditors in their order of priority.  The net Sale
Proceeds after payment of creditor claims will be disbursed to 232
Development, as the Debtor's sole shareholder.  Under the 232
Development Subchapter V plan, those net Sale Proceeds will be
distributed to 232 Development's creditors, and then to its sole
member.

Class 4 General Unsecured Claims total $6,397,010, plus the Allowed
Amount of any Class 5 deficiency Claim After payment of
Administrative Claims, unclassified Priority Tax Claims, Class 1, 2
and 3 Claims, Payment on the Effective Date of available Cash from
the Property Sale Proceeds up to the Allowed Amount of each Class 4
Claim plus interest at the Legal Rate as it accrues from the
Petition Date through the date of payment.

Class 5 Interests Holders will be paid from available Cash from the
Property Sale Proceeds after payment of Administrative Claims,
unclassified Priority tax Claims, and Class 1, 2, 3 and 4 Claims.

Payments under the Plan will be made from the Sale Proceeds of the
Debtor's Property and the liquidation of the Debtor's remaining
Assets. The Property will be sold under the Contract of Sale,
subject to higher and better offers, as set forth in the Bidding
Procedures attached to the Plan. The Property shall be sold to the
Purchaser, free and clear of any and all liens, claims,
encumbrances, interests, bills, or charges whatsoever, other than
the usual and customary utility easements, if any, appearing as of
record or as preserved in the Plan, with any such Liens, Claims,
and encumbrances to attach to the Property Sale Proceeds, and
disbursed in accordance with the provisions of the Plan.  The
Mortgagee will be obligated to assign of its mortgage to
Purchaser's mortgagee, if any, in connection with the sale of the
Property under the Plan.

A full-text copy of the Disclosure Statement dated August 27, 2020,
is available at https://tinyurl.com/y6lrxscz from PacerMonitor.com
at no charge.

The Debtor is represented by:

          Mark Frankel
          Backenroth Frankel & Krinsky, LLP
          800 Third Avenue, Floor 11
          New York, New York 10022
          Tel: (212) 593-1100

                  About 232 Seigel Acquisition

232 Seigel Acquisition classifies its business as Single Asset Real
Estate (as defined in 11 U.S.C. Section 101(51B)).  232 Seigel
Acquisition is the owner of fee simple title to certain real
property in Brooklyn, New York, having a comparable sale value of
$18 million.

232 Seigel Development LLC and 232 Seigel Acquisition LLC sought
Chapter 11 protection (Bankr. S.D.N.Y. Case No. 20-22844 to
20-22845) on July 14, 2020.

232 Seigel Acquisition disclosed total assets of $18,000,000 and
total liabilities of $7,112,316.

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

The Debtors tapped Mark Frankel, Esq., at BACKENROTH FRANKEL &
KRINSKY, LLP, as counsel.


232 SEIGEL: Senior Lender Questions $18-Mil. Sale Deal
------------------------------------------------------
Senior Lender DB 232 Seigel LLC objects to the approval of the
Disclosure Statement proposed by Debtor 232 Seigel Acquisition LLC
in connection with its Plan of Reorganization.

Senior Lender claims that the Disclosure Statement fails to provide
adequate information and disclosure regarding the Sale and the
Acquisition Plan.

Senior Lender points out that the Lenders have serious concerns
regarding the current validity of the prepetition PSA and the
Purchaser's intention to move forward with the Sale at the $18
million purchase price.  The Disclosure Statement simply fails to
provide information on these key issues, and thus should not be
approved.

Senior Lender states that the Disclosure Statement provides very
minimal and generally unhelpful information regarding the
circumstances and negotiation of the PSA prior to Acquisition's
bankruptcy filing, and provides only cursory information about why
the Sale was not consummated prepetition.

Senior Lender asserts that the Disclosure Statement fails to
provide adequate information with respect to the current status of
the PSA, which appears to have been in default or expired in
accordance with its terms well prior to the Petition Date, based
upon a time of the essence provision that required the sale of
Mortgaged Property by no later than May 21, 2020.

Senior Lender further asserts that the Disclosure Statement
improperly describes Senior Lender's secured claim at the
$5,250,000 principal amount under the Senior Loan.  As of the
Petition Date, Senior Lender was owed $6,378,750, a substantially
higher amount, as set forth in Senior Lender's recently filed Proof
of Claim.

Senior Lender further submits that the Court should deny the
approval of the Disclosure Statement because the underlying Plan
upon which it is based is patently unconfirmable.

A full-text copy of Senior Lender's objection dated October 2,
2020, is available at https://tinyurl.com/y37238qn from
PacerMonitor at no charge.

Counsel for DB 232 Seigel:

         HAHN & HESSEN LLP
         Joshua I. Divack, Esq.
         Zachary G. Newman, Esq.
         Jacob T. Schwartz, Esq.
         Jose A. Fernandez, Esq.
         488 Madison Avenue
         New York, NY 10022
         Tel: (212) 478-7200

                  About 232 Seigel Acquisition

232 Seigel Acquisition classifies its business as Single Asset Real
Estate (as defined in 11 U.S.C. Section 101(51B)). 232 Seigel
Acquisition is the owner of fee simple title to certain real
property in Brooklyn, New York, having a comparable sale value of
$18 million.

232 Seigel Development LLC and 232 Seigel Acquisition LLC sought
Chapter 11 protection (Bankr. S.D.N.Y. Case No. 20-22844 to
20-22845) on July 14, 2020.

232 Seigel Acquisition disclosed total assets of $18,000,000 and
total liabilities of $7,112,316.

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

The Debtors tapped Mark Frankel, Esq., at BACKENROTH FRANKEL &
KRINSKY, LLP, as counsel.


305 EAST: Buyer Sets Protocol for Removal of Spa's Personal Propty.
-------------------------------------------------------------------
Lazarus 5, LLC, asks the U.S. Bankruptcy Court for the Southern
District of New York to authorize the protocol for removal of
personal property of Acqua Ancien Bath New York, Inc. ("Spa")
located at 305 East 61st Street, New York, New York.

Approximately one month ago, Lazarus, the Purchaser, closed on the
purchase of the Property from Kenneth P. Silverman, the Chapter 11
Trustee of 305 East 61st Street Group, LLC, under and pursuant to
the Sale Agreement approved by the Court's Sale Order.  As set
forth more fully below, the Purchase Price was approximately $51
million, and included a cash component to the estates of $3.5
million that will fund the Trustee's confirmed chapter 11 plan of
liquidation in the case.  Simply put, the results achieved in the
case are significant and have paved the way for payment of all
administrative expenses as well as a distribution to holders of
allowed unsecured claims.

One of the main objectives since closing the transaction has been
removal of the former subtenant Spa's property from the Property
consistent with the Sale Order.  As the Court may recall, the Order
provides for the Trustee's establishment and implementation of a
reasonable protocol governing the removal of the property over the
course of 60 days following entry of the Sale Order (i.e., the Sale
Order was entered on Aug. 21, 2020).  As the Purchaser made clear
to the Trustee and the Spa during the August 13th sale hearing,
removing the Spa's property as quickly as possible was of paramount
importance to the Purchaser so that the Purchaser could commence
the necessary and substantial corrective work, remediation and
completion construction at the Property, including the commercial
space previously defectively constructed and occupied by the Spa.

Over the past several weeks, however, it has become clear that the
parties do not share an understanding of the property to be removed
under the Sale Order.  In that regard, the Spa is attempting to use
the Sale Order to effectively demolish the Purchaser's Property by,
among other things, demolishing floor slabs, walls, and doors,
gutting and removing installed façade windows, frames and fire
doors; ripping out HVAC systems; chopping large size of cement and
metal flooring to create holes large enough to remove pool filters
of comparatively de minimis retail value which were deposited into
a new cellar, and then surrounded and encased in that new cellar as
walls and floors were constructed and built around them.  The Spa
also proposes to dismantle effectively fully wired and
installedcommercial sized electrical panels that are both fastened
to electrical cabling and fastened to the Property.  

Importantly, the Spa demands  to do all of the work even though:
(a) these items are fixtures under well-settled New York law and
are therefore property of the Purchaser, (b) permits from the DOB
are required, (c) the proposed work would likely compromise (and
further damage) the structure of the building at the Property, (d)
the proposed work would likely take months to complete, assuming
the DOB lifts the Stop Work Orders in place and issues the
necessary permits, and (e) the Purchaser would be deprived of its
Property, and be suffer damage to its business, project and
opportunity as Purchaser.  Notably, the work and removal of
"property" demanded by the Spa was never revealed, and the
fixtures, capital improvements that the Spa demands to remove were
never delineated as omitted from the sale of the Property or in the
Sale Order.    

Unfortunately, it has become clear that the parties are far apart
on an achieving the type of "Protocol" that the Purchaser believes
was reasonably intended by, and consistent with the Sale Order.  To
that end, the Purchaser has offered to move, at its expense, the
unaffixed, uninstalled property out of the Property for delivery
curbside to the Spa's representative.  While the Purchaser remains
open to further discussion and dialogue with the Trustee and the
Spa regarding the matter, it requires resolution as soon as
possible given the threatened delay to its plan to commence
corrective and completion construction at the Property.  As a
result, the Purchaser has filed the instant Motion seeking
intervention from the Court.

The Purchaser has offered the following proposal to the Trustee to
resolve all issues listed above related to the removal of the Spa's
"loose" property from the Property:

     (a) The Spa's property will be removed from the Property, at
the Purchaser's cost and expense, and taken to the street/curb on
days and at times to be coordinated with the Trustee and Spa
beginning as soon as the week.  The proposal was designed to avoid
conflict regarding insurance coverage for any person or entity
entering the Property.  A list of the "loose" property to be
removed is described in Exhibit C.

     (b) The Spa may designate one authorized person to observe the
removal of the Spa Property in the Property to ensure that there is
no disagreement as to what is or is not being removed in the
process.  Once at the street/curb, the Spa would have its own mover
take the Spa's property, at the Spa's sole cost and expense, and
have it placed on a truck and delivered wherever the Spa
designates.

      (c) To the extent that the property on Exhibit C cannot be
removed by Oct. 21, 2020 (the Property Removal Deadline) through no
delay or wrong doing of the Spa, the Spa has the right to file an
application to ask entry of an order extending the deadline from
the Court if the Purchaser otherwise refuses to consent to any such
requested extension and the Purchaser has the right to oppose any
such application.

The Purchaser submits that the proposal for the removal of the
Spa's "loose" property is fair to all of the parties and consistent
with the spirit and intent of the Protocol to be established under
the Sale Order.

A copy of the Purchaser's Protocol and Exhibit C is available at
https://tinyurl.com/y2qfso9x from PacerMonitor.com free of charge.

                About 305 East 61st Street Group

Based in New York, 305 East 61st Street Group LLC, a Single Asset
Real Estate (as defined in 11 U.S.C. Section 101(51B)), filed a
voluntary Chapter 11 petition (Bankr. S.D.N.Y. Case No. 19-11911)
on June 10, 2019.  At the time of filing, the Debtor was estimated
to have assets and debt of $10 million to $50 million.  The case is
assigned to Hon. Sean H. Lane.  The Debtor's counsel is Robert J.
Spence, Esq., at Spence Law Office, P.C., in Roslyn, New York.  The
Debtor's accountant is Singer & Falk.


7 GENERAL: Hydro Buying Komatsu HM300-2 Off Road Truck for $20K
---------------------------------------------------------------
7 General Contracting, Inc., asks the U.S. Bankruptcy Court for the
Southern District of Alabama to authorize the sale of its a Komatsu
HM300-2 Off Road Truck to Hydro Seed Pro for $20,000.

The Debtor owns the Truck which is pledged as collateral for the
secured debt owed by the Debtor to Hancock Whitney Bank.  The
vehicle is not currently being used by the Debtor and is not
necessary for an effective reorganization.

The Debtor has been approached by an unrelated third party, the
Buyer, which wishes to purchase the vehicle.  Hydro Seed Pro has
offered to purchase the vehicle for the price of $20,000.

The Debtor believes it is a fair price for the vehicle.  The
vehicle in perfect condition would be worth approximately $60,000,
however, in its current condition it will require approximately
$40,000 in repairs to be functional.

The Debtor asks the Court to allow the sale of the vehicle, free
and clear of any liens, with the proceeds of the sale to be applied
to the claim of Hancock Whitney Bank.

                 About 7 General Contracting

7 General Contracting, Inc. owns in fee simple a raw land located
in Gulfport, Miss., having an appraised value at $2.2 million.

7 General Contracting filed a Chapter 11 petition (Bankr. S.D. Ala.
Case No. 20-10172) on Jan. 17, 2020. In the petition signed by
Charlie Heath Mason, president, the Debtor disclosed $2,442,634 in
assets and $11,581,296 in liabilities.  Judge Henry A. Callaway
oversees the case. Robert M. Galloway, Esq., at Galloway Wettermark
& Rutens, LLP, serves as the Debtor's bankruptcy counsel.


ADETONA LLC: Case Summary & 4 Unsecured Creditors
-------------------------------------------------
Debtor: Adetona, LLC
        9480 Huebner Rd. #400
        San Antonio, TX 78240

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

Chapter 11 Petition Date: October 30, 2020

Court: United States Bankruptcy Court
       Western District of Texas

Case No.: 20-51825

Judge: Hon. Craig A. Gargotta

Debtor's Counsel: James S. Wilkins, Esq.
                  JAMES S. WILKINS, P.C.
                  1100 NW Loop 410
                  Ste. 700
                  San Antonio, TX 78213
                  Tel: 210-271-9212
                  Email: jwilkins@stic.net

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Olutola Adetona, managing member.

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/YHGHWXQ/ADETONA_LLC__txwbke-20-51825__0001.0.pdf?mcid=tGE4TAMA


ADVANCED MICRO: S&P Places 'BB+' ICR on CreditWatch Positive
------------------------------------------------------------
S&P Global Ratings placed its 'BB+' issuer credit rating and all
issue-level ratings on Advanced Micro Devices Inc. (AMD) on
CreditWatch with positive implications after the company announced
an agreement to acquire Xilinx Inc. in an all-stock transaction
valued at $35 billion.

The CreditWatch placement reflects S&P's view that incremental
business strength from this acquisition, combined with AMD's
considerable organic growth trajectory, could lead the rating
agency to upgrade the firm by up to two notches by the transaction
close.

S&P forecasts the combined entity would generate about $12.6
billion of revenue and $3.0 billion of EBITDA on a pro forma basis
in 2020, excluding the impact of any synergies.

In addition to incremental scale, Xilinx will contribute greater
product and end-market diversity and improved profitability to the
combined entity.

S&P expects AMD will retain its strong balance sheet and net cash
position subsequent to the close of this transaction.

"Our CreditWatch placement is based on our view that the planned
acquisition of Xilinx will strengthen AMD's business through
additional product and end-market diversity. Furthermore, the
all-stock structure of the deal will enable AMD to preserve its
strong balance sheet, and we expect the firm to remain in a net
cash position even after assuming Xilinx's $2 billion of
outstanding debt," S&P said.

S&P expects Xilinx to generate about $3 billion of revenue and $1
billion of EBITDA in the current fiscal year. Although the firm
will only represent about one third of consolidated cash flow,
Xilinx's broader customer base--which includes communications,
industrial, and automotive end markets--should provide greater
stability to AMD's historically more volatile earnings.
Furthermore, Xilinx's better margins should help support AMD's
improving profitability, bringing pro forma EBITDA margins up to
about 24%-25%, from the low 20% area on a stand-alone basis. S&P
does expect organic growth to slow, however, because it believes
that Xilinx's top-line growth trajectory will remain weaker than
AMD's core CPU (central processing unit) and GPU (graphics
processing unit) businesses, notwithstanding some room for revenue
synergies deploying AMD products beyond existing use cases. S&P
thinks that opportunities for synergies are limited in this
transaction both by limited product overlap and by AMD's currently
highly efficient research and development operation, but do see
some gains from increased scale at foundry partners.

AMD continues to report strong stand-alone performance and has
issued guidance for 41% revenue growth in 2020 and reiterated a
long-term 20% organic revenue growth target. S&P thinks that growth
is likely to slow in 2021 after a strong 2020 for semi-custom game
console products. Nevertheless, S&P forecasts that AMD will be able
to outgrow the broader semiconductor market even as incremental
share gains against Intel Corp. and Nvidia Corp. become more
challenging.

"We will monitor developments related to the proposed transaction,
including required approvals. We expect this transaction to close
in 2021, in line with the company's guidance, and could upgrade AMD
by up to two notches when the transaction is completed," S&P said.

"In addition, we would consider upgrading the firm before close if
AMD continued to report strong stand-alone performance, including
further share gains against Intel and Nvidia, while maintaining a
net cash balance sheet," the rating agency said.


ANCELLOTTA LLC: Has Until Nov. 16 to File Plan & Disclosures
------------------------------------------------------------
Judge M. Elaine Hammond of the U.S. Bankruptcy Court for the
Northern District of California has entered an order within which
the deadline for Debtor Ancellotta, LLC, to file a Chapter 11 plan
and disclosure statement is Nov. 16, 2020.

The next scheduled status conference in this case will be held on
Dec. 3, 2020 at 11:00 a.m.

A full-text copy of the order dated August 27, 2020, is available
at https://tinyurl.com/y2ro5uuq from PacerMonitor.com at no
charge.

                       About Ancellotta

Ancellotta, LLC filed a voluntary petition for relief under Chapter
11 of the Bankruptcy Code (Bankr. N.D. Cal. Case No. 20-50872) on
June 9, 2020, listing under $1 million in both assets and
liabilities.  Judge M. Elaine Hammond oversees the case.  Vinod
Nichani, Esq., at Nichani Law Firm, is the Debtor's legal counsel.


AVANTOR INC: S&P Assigns 'BB-' Rating to New Senior Secured Notes
-----------------------------------------------------------------
S&P Global Ratings assigned its 'BB-' issue-level rating and '3'
recovery rating to Avantor Inc.'s proposed senior secured EUR notes
(EUR550 million). The '3' recovery rating indicates S&P's
expectation for meaningful (50%-70%; rounded estimate: 60%)
recovery in the event of a payment default. The new notes will be
issued by Avantor Funding Inc., which is a subsidiary of Avantor
Inc. S&P expects the company will use the new notes, along with the
new senior secured term loan, to repay its existing $1.5 billion 6%
secured notes and EUR500 million 4.75% secured notes, as well as
related fees and expenses.

S&P's 'BB-' issuer credit rating on Avantor reflects its position
as one of the largest distributors of laboratory supplies, its
strong presence in North America and Europe, its broader array of
products and services than many of its smaller, regional
competitors. It also reflects S&P's expectation of leverage below
5.5x and free cash flow generation of more than $600 million in
2020. The positive outlook reflects the potential for an upgrade as
S&P gains better visibility and if it becomes convinced the company
would maintain leverage below 4.5x.


AVIANCA HOLDINGS: Hires Quinn Emanuel as Special Counsel
--------------------------------------------------------
Avianca Holdings S.A., and its debtor-affiliates, seek authority
from the U.S. Bankruptcy Court for the Southern District of New
York to employ Quinn Emanuel Urquhart & Sullivan LLP, as special
litigation counsel to the Debtors.

Avianca Holdings requires Quinn Emanuel to assist the Debtors with
respect to the events, transactions, and agreements that are the
subject of the Debtors' Motion for Entry of an Order Authorizing
Rejection of Certain Executory Contracts, and the Adversary
Proceeding bearing the caption Avianca Holdings S.A., et al. v.
USAVflow Limited (In re Avianca Holdings S.A., et al.), Adv. No.
20-01189 (MG) (Bankr. S.D.N.Y.) and any actual or potential claims
against USAVflow and Citibank, N.A. relating thereto.

Quinn Emanuel will be paid at these hourly rates:

     Partners                   $1,040 to $1,595
     Associates                   $625 to $995
     Paraprofessionals            $355 to $425

Quinn Emanuel 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:  Not applicable.

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

   Response:  Quinn Emanuel and the Debtors intend to develop a
              prospective budget and staffing plan in a
              reasonable effort to comply with the U.S. Trustee's
              requests for information and additional
              disclosures. Consistent with the U.S. Trustee
              Guidelines, the budget may be amended as necessary
              to reflect changed or unanticipated developments.

James C. Tecce, partner of Quinn Emanuel Urquhart & Sullivan 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 Debtors and their
estates.

Quinn Emanuel can be reached at:

     Susheel Kirpalani, Esq.
     James C. Tecce, Esq.
     Matthew Scheck, Esq.
     Nathan Goralnik, Esq.
     Zachary Russell, Esq.
     QUINN EMANUEL URQUHART & SULLIVAN  LLP
     51 Madison Avenue, 22nd Floor
     New York, NY 10010
     Tel: (212) 849-7000
     Fax: (212) 849-7100

                 About Avianca Holdings S.A.

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; Quinn Emanuel Urquhart & Sullivan
LLP, as special litigation 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.


BC CHALET: U.S. Trustee Unable to Appoint Committee
---------------------------------------------------
The Office of the U.S. Trustee on Oct. 27, 2020 disclosed in a
court filing that no official committee of unsecured creditors has
been appointed in the Chapter 11 case of BC Chalet, LLC.
  
                        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)).  It owns a property in
Beaver Creek, Colo., which is valued at $3.03 million.

BC Chalet sought Chapter 11 protection (Bankr. D. Colo. Case No.
20-16118) on Sept. 15, 2020.  Mikhail G. Kaminski, chief manager
and president, signed the petition.  At the time of filing, the
Debtor disclosed $3,032,000 in assets and $1,610,323 in
liabilities.

Robert J. Shilliday III, Esq. at Shilliday Law, P.C., is the
Debtor's legal counsel.


BELLANO JEWELERS: Plan Confirmation Order Entered
-------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas, Fort
Worth Division, entered an order confirming Bellano Jewelers, LLC's
Reorganization Plan.

The Confirmation hearing was calendared for Sept. 28, 2020.  The
Debtor  proposed the Plan in good faith to provide for the
treatment of all claims against the Debtor and this bankruptcy
estate.

All classes that contained class members that actually voted are
impaired.  

    i The holders of Class 1A Claims (Secured Ad Valorem Taxes) are
impaired.    
The holder of such claims did not object to confirmation and did
not vote.  The treatment of any such claims is consistent with the
Bankruptcy Code, the Federal Rules of Bankruptcy Procedure, and the
orders of the Court.  

  ii. The holder of the Class 1B Claim (IRS) is impaired and did
not vote on the Plan or object to the confirmation of the Plan.

iii. The  holder of the Class 1C Claim (World's Gold & Diamonds)
is impaired and did not vote on the Plan or object to the
confirmation of the Plan.  

  iv. The holder of the Class 1D Claim (Nizari Progressive Federal
CreditUnion) is impaired and did not vote on the Plan or object to
the confirmation of the Plan.

   v. The holder of the Class 1E Claim (Siddiqui Company,  Inc.) is
impaired and did not vote on the Plan or object to the confirmation
of the Plan.  

  vi. The holders of Class 2 Claims(Pre-Petition Priority Claims)
are not impaired.

vii. The holders of Class 3 Claims (General Unsecured Claims) are
impaired and voted to accept the Plan in excess of the amounts and
numbers required by Section 1126 of the Bankruptcy  Code.  More
specifically, 1 creditor voted: 1   in favor and 0 against.  Total
dollars voting was $2,240.22.  Total dollars in favor was
$2,240.22.  Total dollars against was $0.00.  Percentage of dollars
in favor was 100.

Each holder of an Allowed Unsecured Claimin Class 3 shall be paid
by Reorganized Debtor from an unsecured creditor pool, which pool
will be funded at the following rate:

   (i) $500 per month commencing the 25th month after the Effective
date for the period of months 25 through 36;

(ii) $1,500 per month commencing the 37th month after the
Effective Date for the period of months 37 through 48 ; and

(iii) $3,000 per month commencing the 49th month after the
Effective date for the period of months 49 through 60.

Copies of the Plan Confirmation Order dated Oct. 8, 2020, and
confirmed Plan are available at:

https://www.pacermonitor.com/view/KDGSNFY/Bellano_Jewelers_LLC__txnbke-19-44431__0088.0.pdf?mcid=tGE4TAMA

The Debtor is represented by:

          Robert T. DeMarco
          DeMarco Mitchell, PLLC
          1255 W. 15th Street, 805
          Plano, TX 75075

                   About Bellano Jewelers LLC

Bellano Jewelers, LLC, a Texas limited liability company, owns and
operates a retail jewelry store, in Fort Worth, Texas.  Bellano
sought protection under Chapter 11 of the Bankruptcy Code (Bankr.
N.D. Tex. Case No. 19-44431) on Oct. 31, 2019.  At the time of the
filing, the Debtor disclosed assets under $500,000 and liabilities
under $1 million.  Judge Edward L Morris is assigned to the case.
The Debtor is represented by DeMarco Mitchell, PLLC.


BEST VIEW: Loves Buying Six Canyon County Parcels for $4.2 Million
------------------------------------------------------------------
Best View Construction & Development, LLC, asks the U.S. Bankruptcy
Court for the District of Idaho to authorize the sale of six
parcels of property known as Best View Quads, located in Canyon
County and legally described as Lots 1 through 6, Block 1, of Best
View Quads Subdivision as shown on the official plat thereof, filed
in Book 48 of Plats at page 47, records of Canyon County, Idaho, to
Annette and David Love for $4.2 million, subject to overbid.

The Property, which consists of six separate parcels, will be sold
as a combined group sale and will be sold to the highest bidder for
not less than a gross purchase price of $4.2 million.  Best View
has received and accepted from the Buyers, subject to higher bids
and Court approval, an offer of $4.2 million for the purchase of
the Property on the terms of their Purchase Agreements.  The offers
are for all six parcels at $700,000 each.  

Based on the negotiated purchase price, Best View believes the fair
market value of the Property is approximately equal to the sale
price (subject to potentially higher bids at the auction sale, of
course).  Further, it believes selling the properties in a bulk
sale (rather than individual parcels) is the best way to ensure a
sale of all parcels, rather than a sale of just some parcels.  Best
View believes that the purchase price will be sufficient to not
only satisfy the secured creditors' liens but also all other
outstanding and allowed unsecured creditor claims.  Best View does
not have any connection between the Buyer other than through
negotiations of this sale.  Closing will be held at the convenience
of the parties as soon after Court approval as possible.  The
Purchase Agreement contemplates closing dates within six months of
the approval of the sale.   

The sale will be a public auction commencing on Oct. 30, 2020, at
10:00 a.m. (MT), at the offices of Angstman Johnson located at 199
N. Capitol Blvd. Suite 200 Boise, Idaho.

The opening bid price will be the Buyers' bid of $4.2 million.  Any
competing overbids will start at $4.225 million.  Minimum bid
increments thereafter will be $10,000.  The Bidders may bid in
increments of more than $10,000 if desired.  To participate in the
auction, an overbidder must submit to the Debtor, at least prior to
the start of the auction, certified funds in the amount of
$300,000, payable to "Best View Construction & Development, LLC."

The Property is to be sold free and clear of all liens and
encumbrances with all liens (if any) to attach to the sale
proceeds.  It has consulted with several real estate brokers and
professionals interested in the sale of the Property prior to
entering into the Purchase Agreement.  It also consulted with
several parties who were interested in the property and was able to
secure a buyer for the Property without the assistance of a Realtor
and will not incur Realtor-related closing costs.  The Buyers'
Realtor will be paid Realtor fees of 3% of the purchase price.  

Existing liens on the Property will either be paid at closing in
agreed-upon amounts or will be released by the lienholders prior to
closing.  In the event of existing liens on the Property that are
not paid by the sale proceeds, the liens are not being paid
pursuant to 11 U.S.C. Section 363(f)(4), as any such interests in
the Property are subject to a bona fide dispute and will only be
paid if later proved valid.

The Debtor asks the Court to allow payment at closing of the liens
and administrative expenses associated with the sale, to include
closing costs and escrow fees.  

It proposes that the purchase prices be distributed in the
following approximate amounts at the time of closing:
      
     a. Lot 1 ($460,000) - (i) Estimated payment to PBRELF 1, LLC
("Broadmark") - $300,000, (ii) Estimated payment to Obraza Family
Trust - $125,000. (iii) Estimated Realtor Fees (Buyers' Realtor) -
$21,000, and (iv) Estimated Closing Costs - $14,000

     b. Lot 2 ($360,000) - (i) Estimated payment to Broadmark -
$300,000, (ii) Estimated payment to Susan Perry - $25,000, (iii)
Estimated Realtor Fees (Buyers' Realtor) - $21,000, (iv) Estimated
Closing Costs - $14,000

     c. Lot 3 ($240,000) - (i) Estimated payment to Broadmark -
$300,000, (ii) Estimated payment to Susan Perry - $125,000, (iii)
Estimated Realtor Fees (Buyers' Realtor) - $21,000, (iv) Estimated
Closing Costs - $14,000

     d. Lot 4 ($460,000) - (i) Estimated payment to Broadmark -
$300,000, (ii) Estimated payment to Sherman Leibow - $125,000,
(iii) Estimated Realtor Fees (Buyers' Realtor) - $21,000, and (iv)
Estimated Closing Costs - $14,000

     e. Lot 5 ($365,000) (i) Estimated payment to Broadmark -
$300,000, (ii) Estimated Realtor Fees (Buyer’s Realtor) -
$21,000, (iii) Estimated Closing Costs - $14,000, and (iv)
$365,000

     f. Lot 6 ($300,000) - (i) Estimated payment to Broadmark -
$300,000, (ii) Estimated payment to Joe Silva Living Trust -
$365,000, (iii) Estimated Realtor Fees (Buyers' Realtor) - $21,000,
and (iv) Estimated Closing Costs - $14,000

Actual deductions for unpaid liens, property taxes, closing costs,
etc., may vary depending on the actual closing date.  The Property
appears to be currently encumbered by certain Deeds of Trust, tax
liens and other encumbrances.  Best View asks approval of the sale
pursuant to 11 U.S.C. Section 363(f)(2), (3) or (4).  The specific
interests which appear to allegedly encumber the Property are
identified, and the Debtor intends to pay those liens at closing
(or, in the case of the Joe Silva Living Trust, partially at
closing and partially as an unsecured claim, with that creditor's
consent).  

The Property is not subject to exemptions.

Finally, the Debtor asks that approval of the sale be effective
immediately and the 14-day stay imposed by Fed. R. Bankr. P 6004(h)
and other rules be waived.  

The Objection Deadline is Oct. 23, 2020.

A copy of the Agreements is available at
https://tinyurl.com/y4f6p9sh from PacerMonitor.com free of charge.

                 About Best View Construction

Best View Construction & Development, LLC --
http://bestviewidaho.com/-- is a licensed and fully insured real
estate construction company specializing in modern and post modern
themed developments.

Best View Construction & Development, LLC, based in Nampa, ID,
filed a Chapter 11 petition (Bankr. D. Idaho Case No. 20-00674) on
July 22, 2020.  The Hon. Joseph M. Meier presides over the case.
In the petition signed by Gaven J. King, owner/manager, the Debtor
disclosed $1,513,330 in assets and $2,819,123 in liabilities.
ANGSTMAN JOHNSON, serves as bankruptcy counsel to the Debtor.


BORDEN DAIRY: Seeks Court Approval for the $1.4M Shareholder Deal
-----------------------------------------------------------------
Alex Wolf of Bloomberg Law reports that Borden seeks the approval
of the bankruptcy court of the $1.4 Million Deal With Shareholder

Borden Dairy is settling potential claims against major shareholder
ACON Investments LLC for $1.4 million under an agreement that could
face resistance from private equity lender and company purchaser
KKR & Co.

Borden asked the U.S. Bankruptcy Court for the District of Delaware
to approve the deal Wednesday, saying the agreement "should
materially increase recoveries by unsecured creditors and pave the
path" to implement its proposed Chapter 11 liquidation plan.

The settlement would resolve potential claims stemming from ACON's
relationship with Borden and the dairy company's decision to file
for bankruptcy.

                    About Borden Dairy Company

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

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

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

Judge Christopher S. Sontchi oversees the case.

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

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


BOUCHARD TRANSPORTATION: Cain Represents Dunham Claimants
---------------------------------------------------------
Pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure,
the law firm of Cain & Skarnulis PLLC submitted a verified
statement that it is representing the Robert Dunham, Timothy
Lerette, and Lonnie Roberts in the Chapter 11 cases of Bouchard
Transportation Co., Inc., et al.

As of Oct. 28, 2020, the parties listed and their disclosable
economic interests are:

Robert Dunham
Timothy Lerette
Lonnie Roberts
c/o Arnold & Itkin LLP
6009 Memorial Drive
Houston, Texas 77007

* Maritime tort lien claimants with in personam claims against
  Debtor Bouchard Transportation Co., Inc. under the Jones Act and
  general maritime law, in rem claims against the B. No. 255.

* Principal Amount of Claim: Unliquidated. Claims are pending
                             against Debtor in Dunham, et al. v.
                             American Bureau of Shipping, et al.,
                             No. 2019- 85459, 127th Judicial
                             District Court of Harris County,
                             Texas.

Counsel for Robert Dunham, Timothy Lerette, and Lonnie Roberts can
be reached at:

        Ryan E. Chapple, Esq.
        Chelsea L. Schell, Esq.
        CAIN & SKARNULIS PLLC
        400 W. 15th Street, Suite 900
        Austin, TX 78701
        Tel: 512-477-5000
        Fax: 512-477-5011
        Email: rchapple@cstrial.com
               cschell@cstrial.com

A copy of the Rule 2019 filing, downloaded from PacerMonitor.com,
is available at https://bit.ly/3kK9pdi

                 About Bouchard Transportation

Founded in 1918, Bouchard Transportation's first cargo was a
shipment of coal.  By 1931, Bouchard acquired its first oil barge.
Over the past 100 years and five generations later, Bouchard has
expanded its fleet, which now consists of 25 barges and 26 tugs of
various sizes, capacities and capabilities, with services operating
in the United States, Canada, and the Caribbean.  Bouchard remains
dedicated to continuing the rich heritage of barging expertise and
family pride well into the future.

Bouchard Transportation Co., Inc., and certain of its affiliates
sought Chapter 11 protection (Bankr. S.D. Tex. Lead Case No.
20-34682) on Sept. 28, 2020.

Kirkland & Ellis LLP and Jackson Walker LLP are acting as the
Company's legal counsel, Portage Point Partners, LLC is serving as
restructuring advisor, and Jefferies LLC is acting as investment
banker.  Stretto is the claims agent.


BRANDED APPAREL: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Branded Apparel Group LLC
        141 West 36th Street
        10th Floor
        New York, NY 10018  

Business Description: Formed in 2012, Branded Apparel Group LLC
                      is an apparel manufacturer that designs,
                      imports, merchandises, and markets men's
                      apparel and accessories under a
                      licensed brand as well as private label
                      brands.

Chapter 11 Petition Date: October 29, 2020

Court: United States Bankruptcy Court
       Southern District of New York

Case No.: 20-12552

Judge: Hon. Shelley C. Chapman

Debtor's Counsel: Paul H. Aloe, Esq.
                  KUDMAN TRACHTEN ALOE POSNER LLP
                  800 Third Avenue, 11th Floor
                  New York, NY 10022
                  Tel: (212) 868-1010
                  Email: paul@kudmanlaw.com

Total Assets as of September 30, 2020: $2,065,356

Total Liabilities as of September 30, 2020: $7,097,845

The petition was signed by Gary Jacobs, member.

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/UES36UA/Branded_Apparel_Group_LLC__nysbke-20-12552__0001.0.pdf?mcid=tGE4TAMA


BULLSHARK INC: Jason's Deli Franchisee in Chapter 11
----------------------------------------------------
Lily O'Neil, writing for Business Den, reports that the Front Range
franchisee of Jason's Deli has filed for Chapter 11 bankruptcy.

BullShark Inc., which operates six Jason's Deli locations between
Colorado Springs and Fort Collins, said in a filing that it owes
$1.74 million to 11 creditors. The company said it has assets worth
$330,433.

BullShark is led by Stanley Lyons.

The franchisee's stores in Colorado Springs, Broomfield, Aurora,
Englewood, Fort Collins and Lakewood are currently open.  A seventh
location along Denver's 16th Street Mall recently closed.

In its filing, BullShark said it had gross revenue of $15.5 million
in 2019 and $16.1 million in 2018.  As of the Aug. 31 filing date,
the company's 2020 revenue was $2.72 million.

Jason's Deli, which was founded in 1976, has nearly 300 locations
across the U.S., according to its website.

Attorney Keri Riley with Denver-based Kutner Brinen law firm is
representing the franchisee in bankruptcy proceedings.

                      About BullShark Inc.

BullShark, Inc., is a privately held company that operates in the
food service industry.  It owns and operates several Jason's Deli
franchise locations across Colorado.

BullShark filed a voluntary petition for relief under Chapter 11 of
the Bankruptcy Code (Bankr. D. Colo. Case No. 20-15814) on Aug. 31,
2020.  The petition was signed by Stanley Lyons, its president.  At
the time of the filing, the Debtor disclosed total assets of
$330,433 and total liabilities of $1,744,131.  Judge Thomas B.
McNamara oversees the case.  Kutner Brinen, P.C. serves as the
Debtor's counsel.




C&D TECHNOLOGIES: Moody's Affirms B3 Corp. Family Rating
--------------------------------------------------------
Moody's Investors Service affirmed C&D Technologies, Inc.'s
corporate family rating and senior secured rating at B3, and
probability of default rating at B3-PD. The rating outlook is
stable.

The affirmation considers expectations for low single digit
top-line growth and margin improvement throughout the remainder of
2020 and all of 2021. Margin improvement will result from higher
production levels resulting from strong demand as well as the
company's footprint realignment and other cost saving initiatives
undertaken over the last year. This is expected to be partially
offset by certain other cost increases including warranty expenses
associated with certain legacy batteries, increased overtime, and
inefficiencies associated with an increase in new hiring. The
ongoing improvement in EBITDA is expected to drive material
deleveraging through 2021, but the company's relatively high annual
interest expense burden of roughly $40 million will continue to
constrain free cash flow generation. That said, management is
focused on realizing working capital improvements, which would
provide some non-recurring cash inflows to mitigate some of the
impact.

RATINGS RATIONALE

C&D's B3 rating reflects its high financial leverage of about 8
times debt-to-EBITDA for the twelve months ended June 30, 2020, but
also its expectation it will approach 6 times debt-to-EBITDA by
year end 2021 (all ratios are Moody's-adjusted unless otherwise
stated). The B3 rating also considers the company's moderate size,
narrow product focus, and a highly competitive environment that
limits pricing power. New management was installed early in 2020,
and although it is still early days, is making headway
strengthening margins. Moody's expects continued improvement in the
near term and throughout 2021.

C&D had experienced some quality issues with a relatively small
portion of legacy C&D batteries in the field, which they are
addressing by providing replacement batteries and honoring
long-term warranties. This will add expenses with limited if any
revenue contribution to offset the impact, but it could also
strengthen the company's relationships with customers and prospects
for business. Meanwhile, the legacy Trojan Battery side of the
business is experiencing operating inefficiencies associated with
the need to hire and train a significant number of new workers that
are constraining manufacturing capacity. This situation has been
exacerbated by the pandemic, with excessive employee absenteeism
playing a role, ultimately resulting in longer than normal lead
times. C&D also has significant exposure to lead as a key raw
material which is mostly unhedged, but can partially offset lead
cost increases through contractual lead price adjustments and
changes to its price list. Moody's also believes the company's
private equity ownership may lead to an increasingly aggressive
financial policy over time.

However, C&D has a well-established position as a leading battery
manufacturer for industrial backup power solutions, with an
expertise in two principal lead battery technologies -- flooded
(C&D and Trojan Battery expertise) and Valve Regulated Lead-Acid
(VRLA) (from C&D). The company also benefits from a significant
amount of recurring revenue that comes from the battery replacement
cycle. Moody's also expects lead-acid batteries will remain in
demand despite the presence of newer technologies, most notably
lithium-ion, of which the company is working on its own version
that will launch in 2021. C&D also has good end-market, customer,
and geographic diversification.

Moody's anticipates the company will realize further margin
improvement as it addresses operating inefficiencies at Trojan
while strengthening existing relationships on the C&D side, and
potentially winning some new business as a result.

C&D's liquidity will be adequate through the end of 2021, largely
supported by Moody's expectation for positive free cash flow of
roughly $10-$20 million over the next year while maintaining access
to a $145 million ABL facility that matures in December 2023. The
ABL had $20.6 million of borrowings on the facility at June 30,
2020, leaving about $95.6 million of availability after taking into
consideration borrowing base limitations, and net of about $9.6
million of letters of credit.

Moody's does not believe C&D has excessive social risk although the
company was affected negatively by employee absenteeism during the
early stages of the pandemic. Moody's does note the environmental
risk associated with the handling, processing, storing,
transporting, and disposal of hazardous substances, especially lead
and acid. C&D also has governance risk related to its financial
policy, which Moody's views as aggressive owing to the largely
debt-funded acquisition of Trojan and associated high financial
leverage. The company is also majority owned by PE sponsor KPS
Capital Partners, which could lead to an increasingly aggressive
financial policy over time.

The stable rating outlook reflects Moody's expectation that topline
growth will remain under pressure, likely in the low-single digits,
but the company will improve profitability such that leverage
approaches 6 times debt-to-EBITDA at year end 2021.

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

The ratings could be upgraded if the company increases its size and
scale such that revenue exceeds $1 billion annually, and
debt-to-EBITDA is sustained below 5.5 times. In addition, Moody's
would expect free cash flow-to-debt to be in the low single digits
while the company has more limited reliance on the ABL facility.

The ratings could be downgraded if there is top-line pressure,
particularly in the stationary business from an inability to
penetrate the utility, telecom, and data center spaces. In
addition, if the company is unable to realize margin expansion from
measurable cost improvements in manufacturing processes, or if
there is deteriorating free cash flow, the ratings would face
pressure. Also, if debt-to-EBITDA is sustained above 7 times, the
company has a more meaningful and prolonged dependence on the ABL,
or the company makes a large, debt-funded acquisition the ratings
could be downgraded.

The following rating actions were taken:

Affirmations:

Issuer: C&D Technologies, Inc.

Corporate Family Rating, Affirmed B3

Probability of Default Rating, Affirmed B3-PD

Senior Secured Bank Credit Facility, Affirmed B3 (LGD3)

Outlook Actions:

Issuer: C&D Technologies, Inc.

Outlook, Remains Stable

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

C&D Technologies, Inc., headquartered in Blue Bell, PA, is a
leading designer and manufacturer of both flooded and valve
regulated lead-acid batteries. The company completed the
transformational debt-funded acquisition of Trojan Battery Company,
LLC ("Trojan") in December 2018. C&D is controlled by affiliates of
KPS Capital Partners, LP. C&D had net sales for the twelve months
ended June 30, 2020 of approximately $738 million.


CABLE ONE: Moody's Rates $500MM Senior Unsecured Notes 'B2'
-----------------------------------------------------------
Moody's Investors Service affirmed Cable One, Inc.'s Ba3 Corporate
Family Rating (CFR), affirmed the Ba3 Senior Secured Bank Credit
Facility, and upgraded the Company's Probability of Default Rating
(PDR) to Ba3-PD, from B1-PD. Moody's also assigned a B2 rating to
new 10-year, $500 million Senior Unsecured Notes (due 2030) and a
Ba3 rating to a new 5-year, $1.181 billion Senior Secured Credit
Facility consisting of a $681 million Term Loan A (due 2025) and a
new $500 million Revolving Credit Facility (due 2025), which was
upsized by $150 million. The SGL-1 Speculative Grade Liquidity
Rating is unchanged. The rating outlook remains Stable.

The Company is raising $800 million in debt, $300 million from
incremental Term Loan B-3 due 2027 (upsized to $625 million, from
$300 million) (the "B-3 Upsize") and $500 million from new
unsecured notes (the "Notes Offering" and, together with the B-3
Upsize, the "Refinancing"). The net proceeds from the B-3 Upsize
will be used, together with cash on hand, to repay the existing
$485 million Term Loan B-1. The net proceeds from the Notes
Offering are expected to be used for general corporate purposes,
which may include acquisitions and strategic investments, including
the Company's investment in Mega Broadband Investments Holdings LLC
(d/b/a Vyve Broadband, "MBI", Mega Broadband Investments
Intermediate I, LLC, B2 stable). The B-3 Upsize is expected to
close by the end of October and the Notes Offering is expected to
close in November. Moody's will withdraw the ratings on the
existing Revolving Credit Facility and Term Loan A upon close of
the Refinancing.

Prior to the Refinancing, MBI and Cable One entered into a
definitive agreement allowing Cable One to make a strategic
investment in MBI. Cable One will purchase a 45% minority stake in
MBI from affiliates of GTCR LLC, a private equity firm, for
approximately $574 million in cash, subject to adjustment for
transaction expenses. The Investment is expected to close in Q4
2020. In addition to the minority stake it will acquire, Cable One
will have the right to purchase the remaining interests in MBI at a
predetermined multiple of earnings beginning in 2023. Until Cable
One acquires full ownership of MBI, Moody's expects to exclude the
pro rata earnings of MBI from Cable One's EBITDA absent ongoing
cash distributions from MBI.

Affirmations:

Issuer: Cable One, Inc.

Corporate Family Rating, Affirmed Ba3

Senior Secured Bank Credit Facility, Affirmed Ba3 (LGD3)

Upgrades:

Issuer: Cable One, Inc.

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

Assignments:

Issuer: Cable One, Inc.

Senior Secured Bank Credit Facility, Assigned Ba3 (LGD3)

Senior Unsecured Regular Bond/Debenture, Assigned B2 (LGD6)

Outlook Actions:

Issuer: Cable One, Inc.

Outlook, Remains Stable

Though the Refinancing will increase gross leverage (debt/EBITDA)
by approximately .5x (on a pro forma basis), Cable One remains well
positioned in the Ba3 rating category given its moderate leverage
and solid execution. Moody's views the equity investment favorably,
positioning Cable One to fully acquire it at which time Moody's
expects it to be accretive to the business. The Refinancing will
also extend the weighted average maturity profile, increase the
weighted average interest rate, and introduce a mixed capital
structure with secured and unsecured debt.

RATINGS RATIONALE

Cable One, Inc.'s Ba3 Corporate Family Rating (CFR) reflects the
Company's strong balance sheet supported by very moderate leverage,
despite a very active M&A growth strategy. The Company also
benefits from a diversified footprint, superior network speeds, a
favorable competitive environment, and a very profitable business
model that produces EBITDA margins approaching 50%. Constraining
the rating is the Company's declining video (and voice) services
which exhibit low penetration, and high loss rates. The service
offering is subject to intense competition and is being harvested
for cash and profits. The Company's weakening market position in
video is reflected in below average operating performance metrics
including penetration rates, and earnings per home passed. In
addition, the Company's broadband-centric strategy is significantly
reducing the number of triple and double play customers,
eliminating bundling opportunities, increasing product
concentration and regulatory risks as the Company moves closer to a
singular broadband-only business. There is moderate governance
risk, with a tolerance for higher leverage 4x-4.5x for M&A, and
dividends. This event risk is the primary constraint to a higher
rated credit profile.

The Company has very good liquidity, supported by positive
operating cash flow, an undrawn $500 million revolving credit
facility, and covenant cushion. The credit profile also benefits
from a favorable maturity profile with no maturities for the next 5
years.

Moody's rates Cable One's senior secured bank debt facility and
senior secured instruments Ba3, equal to the Ba3 CFR. Secured
lenders will benefit from junior capital provided by the senior
unsecured notes which are rated B2, two notches below the CFR due
to the subordinate priority of claims. The instrument ratings
reflect a Ba3-PD Probability of Default Rating, and an average
expected family recovery rate of 50% at default given the mixed
capital structure and maintenance covenants.

RATING OUTLOOK

The stable outlook reflects its expectation that debt will average
approximately $2.0 billion, and revenue will rise to over $1.3
billion, over the next 12-18 months. Moody's projects EBITDA will
rise to near $680 million, with EBITDA margins rising over 50%. Net
of capex (about 20-25% of revenue) and interest (about 4% weighted
average borrowing cost), Moody's projects free cash flow of up to
$150 million. Free cash flow to debt will be 5%-8%. Key operating
assumptions include organic broadband subscriber growth in the low
to mid-single digit percent range, and video subscriber losses over
10%. Moody's projects leverage to fall to near 3x. Moody's expects
liquidity to remain very good. Unless otherwise notes, all figures
are Moody's adjusted, over next 12-18 months.

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

Factors that Could Lead to an Upgrade

  -- Gross debt / EBITDA (Moody's adjusted) sustained comfortably
below 3.5x with commitment by management to sustain metrics at this
level

  -- Free cash flow to gross debt (Moody's adjusted) sustained
above 10%

Moody's would also consider a positive rating action if financial
policy was more conservative, the scale of the Company was larger,
or there was more diversity in the business model without negative
implications on profitability.

Factors that Could Lead to a Downgrade

  -- Gross debt / EBITDA (Moody's adjusted) sustained above 4.5x

  -- Free cash flow to gross debt (Moody's adjusted) sustained
below 5%

Moody's would also consider a negative rating action if liquidity
deteriorated, financial policy turned more aggressive, or there was
a material and unfavorable change in the scale, diversity, or
operating performance.

Headquartered in Phoenix, AZ, Cable One, Inc. offers traditional
and advanced video services including digital television,
video-on-demand, high-definition television, as well as high-speed
Internet access and phone service. The Company passes 2.3 million
homes, in 21 states across the West, Mid-West, and South (including
Arizona, Idaho, Illinois, Mississippi, Missouri, Oklahoma, and
Texas), serving more than 900 thousand residential and commercial
customers. Revenue for the last twelve months ended June 30, 2020
was approximately $1.25 billion.

The principal methodology used in these ratings was Pay TV
published in December 2018.


CALIFORNIA PIZZA: Court OKs Plan to Cut Debt by $225M
-----------------------------------------------------
Law360 reports that restaurant chain California Pizza Kitchen on
Oct. 29, 2020, received approval from a Texas bankruptcy judge for
an equity swap Chapter 11 plan that will put it on track to drop
$225 million in debt and a quarter of its locations.

Under the plan approved by U. S. Bankruptcy Judge Marvin Isgur at a
telephone hearing, the restaurant chain will hand all but a
fraction of its equity to its first-lien lenders, and counsel for
the company said they will be rejecting around 50 leases.

"CPK on emergence will be a more nimble, right-sized company," CPK
counsel Francis Petrie of Kirkland & Ellis LLP said.

                  About California Pizza Kitchen

California Pizza Kitchen, Inc. -- http://www.cpk.com/-- is a
casual dining restaurant chain that specializes in California-style
pizza. Since opening its doors in Beverly Hills in 1985, CPK has
grown from a single location to more than 200 restaurants
worldwide. CPK's traditional dine-in locations are full-service
restaurants that serve pizza, salads, pastas and other
California-inspired fare, alongside a curated selection of wines
and a menu of handcrafted cocktails and craft beers.  Though the
Company's dine-in restaurants are the primary way the Company
serves its customers, CPK also has a number of "off-premises"
services and licensing agreements that allow customers to get their
favorite CPK dishes on the go.

California Pizza Kitchen, Inc., filed a Chapter 11 petition (Bankr.
S.D. Tex. Case No. 20-33752) on July 29, 2020. The Hon. Marvin
Isgur oversees the case.

At the time of filing, the Debtors have $100 million to $500
million estimated assets and $500 million to $1 billion estimated
liabilities.

Kirkland & Ellis is serving as legal counsel to CPK, Guggenheim
Securities, LLC is serving as its financial advisor and investment
banker, and Alvarez & Marsal, Inc., as restructuring advisor.
Gibson, Dunn & Crutcher LLP is acting as legal counsel for the
group of first lien lenders and FTI Consulting, Inc. is acting as
its financial advisor. Additional information about the Chapter 11
case can be found at https://cases.primeclerk.com/CPK


CALIFORNIA PIZZA: Unsecureds to Recover 3.0% to 8.2% in Plan
------------------------------------------------------------
California Pizza Kitchen, Inc., et al., submitted a Disclosure
Statement for their First Amended Joint Chapter 11 Plan of
Reorganization.

The key financial components and commitments of the Restructuring
Transactions are as follows:

   * Each Holder of an Allowed First Lien Secured Claim shall
receive its Pro Rata share of and interest in, as applicable, (i)
96.5% to 100% of the New Common Stock (subject to dilution by the
Management Incentive Plan, the New Money DIP Fee, and the Exit
Facility Fee), (ii) the participation in the New First Lien Exit
L/C Facility, and (iii) the New Second Lien Term Loan Exit
Facility;

   * Each Holder of an Allowed Convenience General Unsecured Claim
shall receive its Pro Rata share of the Convenience GUC Recovery;
and

   * Each Holder of an Allowed non-Convenience General Unsecured
Claim shall receive (i) its Pro Rata share of the GUC Cash Recovery
(less any Stakeholder Reimbursements); and (ii) its Pro Rata share
of the GUC Equity Recovery.  Pursuant to the Settlement, in the
event of an Alternative Transaction, each Holder of an Allowed
General Unsecured Claim shall receive its Pro Rata Share of the GUC
Cash Recovery (less any Stakeholder Reimbursements) and the
Additional Cash Payment.

The Debtors have continued negotiations with landlords during the
pendency of these Chapter 11 Cases, and have, thus far, negotiated
rent savings of approximately $67.1 million through 2024, including
$14.3 million on account of prepetition rent abatement.

                    Projected Recoveries

Class 3 Class First Lien Secured Claims. The Class 3 projected
amount of claims is $267,350,000.  Creditors may recover 31.4% to
85.6% of their claims.  Each Holder of an Allowed First Lien
Secured Claim shall receive:

   (i) with respect to any First Lien Credit Agreement L/C Secured
Claims, participation in the New First Lien Exit L/C Facility in an
amount equal to such Holder's First Lien Credit Agreement L/C
Secured Claims; and

  (ii) with respect to any First Lien Credit Agreement Secured
Claims, its Pro Rata Share of and/or interest in (A)(1) if the
Settlement is in effect, 96.5% of the New Common Stock (subject to
dilution by the Management Incentive Plan, the New Money DIP Fee,
and the Exit Facility Fee), or (A)(2) if the Settlement is no
longer in effect, 100% of the New Common Stock (subject to dilution
by the Management Incentive Plan, the New Money DIP Fee, and the
Exit Facility Fee); and (B) the New Second Lien Term Loan Exit
Facility (in an aggregate amount of $50,000,000); or

(iii) in the event of an Alternative Transaction, its Pro Rata
share of the Sale Proceeds up to the Allowed amount of such Claims,
less (A) the Sale Proceeds distributed to Holders of Class 1 and
Class 2 Claims and (B) the GUC Cash Recovery and Additional Cash
Payment distributed to Holders of General Unsecured Claims.

Class 4 Second Lien Secured Claims. Each Holder of an Allowed
Second Lien Secured Claim shall receive no recovery or
distribution; provided that if, and only if, the Alternative
Transaction occurs and Holders of Allowed Claims in Class 1, Class
2, and Class 3 have been paid in full or have otherwise received
such treatment as such Holders are entitled to under the Plan, each
Holder of an Allowed Second Lien Secured Claim shall receive  its
Pro Rata share of the Sale Proceeds up to the Allowed amount of
such Claim, less (A) the Sale Proceeds distributed to Holders of
Class 1, Class 2 and Class 3 Claims and (B) the GUC Cash Recovery
and Additional Cash Payment distributed to Holders of General
Unsecured Claims.

Class 5 General Unsecured Claims.  The Class 5 projected amount of
claims is $100,500,000. Creditors may recover 3.0% to 8.2% of their
claims.  If the Alternative Transaction does not occur, each Holder
of an Allowed General Unsecured Claim shall receive (i) with
respect to any Convenience General Unsecured Claim, its Pro Rata
share of the GUC Convenience Recovery, provided that payment on
account of each Allowed Convenience General Unsecured Claim shall
not exceed 3.4% of such Allowed Claim; and (ii) with respect to any
General Unsecured Claim that is not a Convenience General Unsecured
Claim, its Pro Rata share of (A) the GUC Cash Recovery, less any
Stakeholder Reimbursements; and (B) the GUC Equity Recovery.

If, and only if, the Alternative Transaction occurs, each Holder of
an Allowed General Unsecured Claim shall receive (i) its Pro Rata
share of the Additional Cash Payment; (ii) its Pro Rata share of
the GUC Cash Recovery, less any Stakeholder Reimbursements; and
(iii) if and only if Holders of Allowed Claims in Class 1, Class 2,
Class 3, and Class 4 have been paid in full or have otherwise
received such treatment as such Holders are entitled to under the
Plan, its Pro Rata share of the Sale Proceeds up to the Allowed
amount of such Claim, less the Sale Proceeds already distributed to
Holders of non-Class 5 Claims in accordance with the Bankruptcy
Code.

Pursuant to the Settlement, the Holders of First Lien Deficiency
Claims have agreed to waive any recovery on account of each
respective Holder's First Lien Deficiency Claims (including any
right to turnover or similar relief with respect to the Second Lien
Claims); provided that, to the extent any Holder of Second Lien
Claims objects to the Settlement and seeks a recovery inconsistent
with what is set forth in the Settlement Agreement, for those
purposes only, the First Lien Deficiency Claims (including turnover
and all rights under the First Lien/Second Lien Intercreditor
Agreement) are preserved, but only with respect to the Claims held
by the objecting Holders of Second Lien Claims (if any).

In the event that the Settlement is no longer in effect, then
recovery on account of First Lien Deficiency Claims shall not be
waived and Class 5 shall not be entitled to a recovery.

A full-text copy of the Disclosure Statement dated September 23,
2020, is available at  https://tinyurl.com/yy7fjamu from
PacerMonitor.com at no charge.

Proposed Co-Counsel to the Debtors:

     Joshua A. Sussberg, P.C.
     Matthew C. Fagen
     Francis Petrie
     KIRKLAND & ELLIS LLP
     KIRKLAND & ELLIS INTERNATIONAL LLP
     601 Lexington Avenue
     New York, New York 10022
     Telephone: (212) 446-4800
     Facsimile: (212) 446-4900

          - and -

     Matthew D. Cavenaugh
     Kristhy M. Peguero
     Genevieve Graham
     Veronica A. Polnick
     JACKSON WALKER L.L.P.
     1401 McKinney Street, Suite 1900
     Houston, Texas 77010
     Telephone: (713) 752-4200
     Facsimile: (713) 752-4221

               About California Pizza Kitchen

California Pizza Kitchen, Inc. -- http://www.cpk.com/-- is a
casual dining restaurant chain that specializes in California-style
pizza.  Since opening its doors in Beverly Hills in 1985, CPK has
grown from a single location to more than 200 restaurants
worldwide.  CPK's traditional dine-in locations are full-service
restaurants that serve pizza, salads, pastas and other
California-inspired fare, alongside a curated selection of wines
and a menu of handcrafted cocktails and craft beers.  Though the
Company's dine-in restaurants are the primary way the Company
serves its customers, CPK also has a number of "off-premises"
services and licensing agreements that allow customers to get their
favorite CPK dishes on the go.

California Pizza Kitchen, Inc., filed a Chapter 11 petition (Bankr.
S.D. Tex. Case No. 20-33752) on July 29, 2020.  The Hon. Marvin
Isgur oversees the case.

At the time of filing, the Debtors have $100 million to $500
million estimated assets and $500 million to $1 billion estimated
liabilities.

Kirkland & Ellis is serving as legal counsel to CPK, Guggenheim
Securities, LLC is serving as its financial advisor and investment
banker, and Alvarez & Marsal, Inc., as restructuring advisor.
Gibson, Dunn & Crutcher LLP is acting as legal counsel for the
group of first lien lenders and FTI Consulting, Inc. is acting as
its financial advisor.  Additional information about the Chapter 11
case can be found at https://cases.primeclerk.com/CPK.


CALLAWAY GOLF: S&P Puts 'B+' ICR on Watch Negative on Topgolf Deal
------------------------------------------------------------------
S&P Global Ratings placed all ratings on U.S.-based golf equipment
and apparel manufacturer Callaway Golf Co., including the 'B+'
issuer credit rating, on CreditWatch with negative implications.

The CreditWatch placement follows Callaway's entry into an
agreement to acquire the remaining 86% of driving range
entertainment company Topgolf International Inc. that it does not
already own.

The proposed merger is an all-stock transaction that values Topgolf
at about $2 billion and is expected to close in early 2021.
Callaway shareholders will own 51.5% of the combined company and
Topgolf shareholders will own the remaining 48.5%. Callaway will
assume Topgolf's debt, which consists of a $344 million outstanding
term loan, a $175 million revolving credit facility with $160
million outstanding, and roughly $200 million of
real-estate-related debt, in addition to high lease obligations.

"The CreditWatch placement primarily reflects our belief that the
incremental leverage at the combined entity and Callaway's plan to
fund growth capital expenditures (capex) at Topgolf may increase
financial risk more than the strategic benefits of the acquisition
improve the combined entity's scale, breadth of products and
services, and EBITDA growth over the next few years. As a result,
we could lower the issuer credit rating on Callaway to reflect the
combined entity's higher financial leverage," S&P said.

S&P views Callaway's decision to fund the transaction with equity
rather than issuing new debt favorably. However, Callaway will be
assuming more than $500 million of funded debt from Topgolf, in
addition to more than $200 million in real-estate-related debt and
close to $1 billion in lease obligations. This will increase
leverage significantly at the combined entity for at least the next
two years, well above S&P's 5x downgrade threshold for Callaway at
the current rating, because the rating agency does not expect
Topgolf to generate meaningful EBITDA in 2020 or 2021. Although S&P
believes the transaction creates an opportunity to accelerate
Topgolf's growth trajectory and path to sustained profitability,
the rating agency is uncertain whether Topgolf can grow its EBITDA
fast enough by 2022 to substantially reduce leverage at the
combined entity.

Callaway is recovering rapidly from the early days of the pandemic
when coronavirus-related stay-at-home orders temporarily shut down
most golf courses, golf retailers, and manufacturing facilities.
Since then, the consumer desire for outdoor socially distanced
activities has driven a remarkable increase in golf participation
and golf equipment sales; Callaway realized 12% year-over-year
sales growth and more than 50% EBITDA growth in the third quarter.
Topgolf is experiencing a similar resurgence in walk-in traffic at
its venues following temporary closures earlier in the year,
although group business is still down substantially and revenue
remains below 2019 levels. It is hard to predict what percentage of
new golfers from 2020 will remain in the sport over the long term,
but S&P expects the surge in participation will be a tailwind for
the golf industry over the next several years.

"In our view, the merger's benefits for Topgolf are clear: Topgolf
does not generate free cash flow at its current scale and relies on
external capital to grow the number of venues in its portfolio.
Through the merger, we believe Callaway will finance a significant
portion of Topgolf's venue development for the next several years
once it restarts its planned rapid expansion," S&P said.

The company has indicated its goal is that Topgolf will generate
positive free cash flow by 2024, at which time it could become
self-funding. However, this is a long time horizon and S&P expects
significant variability in potential operating results depending
upon Topgolf's revenue recovery during and following the pandemic,
the pace of economic and employment recovery in the U.S., and
changing consumer preferences over time. Callaway also has
long-standing relationships with golf courses and driving ranges
around the country, and S&P believes Topgolf can leverage these
relationships to accelerate the growth in its Toptracer range
business, which licenses its technology to driving ranges. Topgolf
will also benefit from joint marketing efforts at Callaway that
will further increase its exposure.

"There are strategic benefits for Callaway as well, although less
impactful than for Topgolf, in our view. It appears the largest
benefit for Callaway is the opportunity to actively market its
brands and products to Topgolf's customers," S&P said.

Topgolf estimates that 50% of its customers are nongolfers, but
many show an interest in pursuing golf after experiencing Topgolf.
Thus Callaway may be able to increase its exposure and brand
awareness to a group of consumers that it may not have been able to
reach easily in the past. There is also potential for cross-selling
opportunities whereby Callaway can increase its golf equipment and
lifestyle apparel sales by selling in Topgolf venues.

Still, S&P suspects that the higher financial risk due to the
leveraging impact of the merger and Callaway's plan to fund $325
million of Topgolf's capex over the next three years will likely
outweigh the strategic benefits to Callaway. Callaway has a
significant amount of cash on its balance sheet, partially as a
result of its issuance of a $259 million convertible note earlier
this year, so it can use current cash to fund much of the
commitment. However, Callaway will also need to use revolver
borrowings or internally generated free cash flow to fund the
remainder. Callaway has not generated more than $100 million of
annual free cash flow in any of the past 10 years, and S&P's
pre-pandemic projection for Callaway's free cash flow was also
under $100 million per year. This means that Callaway will rely on
reaching its goal for Topgolf to achieve positive free cash flow by
2024, otherwise S&P does not believe it can continue the same pace
of investment and Topgolf could reduce Callaway's free cash flow
for a prolonged period.

"Although Callaway is not providing guarantees for Topgolf's debt
and Topgolf entities will be unrestricted subsidiaries, we believe
the plan for financial support along with the ownership and board
structure indicate to us that Callaway views Topgolf as important
to its long term strategy," S&P said.

The transaction is expected to close in early 2021, and will
require approval from both companies' shareholders, an amendment to
Callaway's credit facilities, and regulatory approval.

S&P will resolve the CreditWatch once it has assessed the impact of
the merger on its view of the combined company's business and
financial risk.


CANADIAN WESTERN: DBRS Gives Prov. BB(high) on AT1 Capital Notes
----------------------------------------------------------------
DBRS Limited assigned a provisional rating of BB (high) with a
Negative trend to the Canadian Western Bank's (CWB or the Bank)
NVCC Additional Tier 1 (AT1) Limited Recourse Capital Notes (the
Capital Notes). DBRS Morningstar assigned the rating equal to the
Bank's Intrinsic Assessment of A (low) less four rating notches,
which is consistent with DBRS Morningstar's standard notching for
capital instruments with contingent risks and its ratings for the
Bank's NVCC Preferred Shares. The provisional rating for the
Capital Notes is one notch below the rating of CWB's NVCC
Subordinated Debt.

DBRS Morningstar notes that the Office of the Superintendent of
Financial Institutions granted Tier 1 capital treatment to the
Capital Notes.

RATING DRIVERS

Given the Negative trend, an upgrade is unlikely at this time. The
trend could change to Stable if the impact of the current economic
crisis on CWB's earnings and credit quality metrics is manageable.

Conversely, material losses in the loan portfolio as a result of
the oil price shock and a longer-than-expected adverse impact of
Coronavirus Disease (COVID-19), or significant pressures on funding
and liquidity, could result in a rating downgrade.

Notes: All figures are in Canadian dollars unless otherwise noted.


CAPITAL TRUCK: Nextran Buying All Assets for $1.76 Million
----------------------------------------------------------
Capital Truck, Inc., asks the U.S. Bankruptcy Court for the
Northern District of Florida to authorize the sale of all of its
assets, including its fixed assets, inventory, sales and servicing
agreements, its "Blue Sky" rights to the dealership and other
intangible assets, to Nextran Corp. for $1,759,525.

The Debtor is an authorized Mack dealership located at 4740
Blountstown Highway, Tallahassee, Florida.  It sells and services
new and used Mack trucks and Hino trucks.  The Debtor operates its
dealership on real property, which is leased from McKenzie Tank
Lines, Inc., and the lease is month-to-month.  The Debtor does not
own any real property.

Less than one month into the case, the Debtor sought and obtained
the Court's approval to conduct an auction of Assets.  Pursuant to
the Bidding Procedures Order, the Debtor solicited buyers in an
attempt to generate maximum interest and participation in the
Auction.  Three bidders were approved on a preliminary basis by
Mack Trucks, Inc. and Hino Motors Sales U.S.A., Inc. to participate
in the Auction.  Each of the Qualified Bidders submitted Qualified
Bids as required, and each of the Qualified Bidders attended the
telephonic Auction as scheduled on Sept. 29, 2020.

Nextran submitted the highest and best bid at the Auction, and the
Debtor deemed Nextran to be the Prevailing Bidder at the Auction.
Nextran's bid was in the amount of $1,759,525, subject to certain
adjustments as reflected in the Asset Purchase Agreement.
Following the Auction, the Debtor was provided timely written
notice from Mack Trucks that it would not exercise its first right
of refusal.

By the instant Motion, the Debtor asks the Court's approval of the
sale of its Assets to Nextran.  It is also asking the Court's
approval to assume and assign the Dealer Agreements with Mack
Trucks and Hino Motors to Nextran in accordance with the Bidding
Procedures Order.

The Assets to be sold as part of the Debtor as a going concern
include those listed on Schedule I of the attached APA, which
include the following:  (i) intangible Assets, including going
business concern, goodwill and franchise rights under the Truck
Dealership Agreements with Mack Trucks and Hino Motors; (ii) parts
Inventory; (iii) work in process existing on the Closing Date; (iv)
prepaid Expenses; and (v) Fixed Assets used in operations, which
will include five pickup trucks as seen on Schedule I.

Accordingly, the Debtor's right, title and interest in all of the
Assets will be sold free and clear of any and all liens, security
interests, claims, charges or encumbrances.  The Debtor proposes
that any such liens, security interests, claims, charges, and/or
encumbrances, other than liabilities expressly assumed by the
Purchaser (if any), will attach to the amounts payable to the
Debtor from the sale, and held by the Debtor in its counsel's trust
account, pending further Order of the Court.

At the Closing, Nextran will provide the Purchase Price and
complete all final documentation associated with becoming an
approved dealer for Mack Trucks and Hino Motors.  Subject to the
terms of the APA, the Closing will occur on Nov. 9, 2020 or such
earlier date as the parties may agree.

By the Motion, the Debtor is also asking approval to assume and
assign to Nextran the Dealer Agreements, as well as any executory
contract or unexpired lease identified in and pursuant to the APA.
Any amount due to Mack Trucks and Hino Motors under the Dealer
Agreements will be paid from the Sale Proceeds at the closing of
the sale, unless waived or otherwise agreed upon by Mack Trucks or
Hino Motors. Pursuant to the claims filed by Mack Trucks and Hino
Motors, $56,525 will be paid out of the Sale Proceeds at closing to
Mack Trucks (Claim No. 17), and $52,557 will be paid out the Sale
Proceeds at closing to Hino Motors (Claim No. 10).

In accordance with the Bidding Procedures Order and subject to the
terms of the APA, after the Court's approval of the instant Motion,
counter-parties to the Executory Contracts will be served,
approximately five business days after approval of the sale, a
Post-Sale Notice.  All objections must be filed no later than 4:00
p.m. (EST) on the seventh day following the conclusion of the
sale.

The Debtor believes that the following entities may claim to hold
valid liens against the purchased Assets: The First Bank, N.A.;
Volvo Financial Services/Mack Financial; Hitachi Capital America
Corp.; Hino Motors Sales U.S.A., Inc.; Mack Trucks, Inc.; and
Jefferson County Board of County Commissioners.

Finally, the Debtor asks that the order approving the sale
following the Auction provides that the stay period under Rule
6004(h) and 6006(d), and any other applicable stay periods, be
waived, such that the sale may occur immediately upon entry of the
sale order.  

A copy of the Agreement is available at
https://tinyurl.com/y36ojl8n from PacerMonitor.com free of charge.

                      About Capital Truck

Capital Truck, Inc., based in Tallahassee, FL, filed a Chapter 11
petition (Bankr. N.D. Fla. Case No. 20-40287) on July 14, 2020.  In
the petition signed by Mark Thomas, president, the Debtor was
estimated to have $1 million to $10 million in both assets and
liabilities.  BRUNER WRIGHT, P.A., serves as bankruptcy counsel to
the Debtor.


CARRIAGE SERVICES: S&P Alters Outlook to Stable, Affirms 'B' ICR
----------------------------------------------------------------
S&P Global Ratings revised the outlook on Carriage Services Inc.
(CSV) to stable from negative and affirmed the 'B' issuer credit
rating on the company as the rating agency believes the company's
financial policy remains aggressive and it has had some operational
missteps in recent years.

S&P said, "The stable outlook reflects our expectation that
discretionary cash flow as a percentage of debt will stay above 3%.
However, we also project that S&P Global Ratings-adjusted leverage
to remain above 5x over the intermediate period."

Acquisition integration is largely on track. Integration risk was
the key driver when S&P revised the outlook to negative last
December. S&P believes CSV is on track to successfully integrate
the four acquisitions, which would increase pro forma revenue and
EBITDA 15% and 20%, respectively.

CSV has solidly addressed its capital structure amid COVID-19
pandemic.  The COVID-19 pandemic has thus far been a
smaller-than-expected headwind for CSV (and the death care
industry) given the fast recovery of average selling price per
funeral contract and proactive cost controls. In addition, CSV also
benefits from a $7 million one-time tax refund due to CARES Act and
asset sales ($7 million in proceeds through Sept. 30, 2020, with
more to come) to pay down debt. These measures will help the
company reduce revolver outstanding to $56 million at Sept. 30,
2020, from $89.7 million at June 30, 2020.

An aggressive financial policy is a key limiting factor.
Management's aggressive financial policy is a key constraining
factor for our rating on CSV. The company made four acquisitions in
late 2019/early 2020. Both the pace (four acquisitions within four
months) and amount ($171 million) exceeded our expectations. The
Fairfax acquisition multiple was approximately 12x, significantly
higher than the company's traditional 6.5x-7.5x range. Although
Fairfax has certain favorable characteristics in terms of its large
revenue size and attractive demographics (i.e., an affluent
Virginia area), the rich transaction multiple raises concern about
the company's financial discipline.

S&P said, "We maintain our view that we do not believe CSV's
management team is fully committed to its publicly stated leverage
target of 4.0x-4.5x. The company appears willing to prioritize
shareholder-friendly returns, such as share repurchases and
large-scale acquisitions, which could increase and keep leverage
above this target. We therefore expect adjusted leverage to stay
above 5x over the next few years. For example, in November 2018, in
conjunction with announcing an operational turnaround, CSV obtained
a credit agreement amendment that allowed it to repurchase up to
$30 million common shares when the covenant leverage is between
4.5x and 5.25x. The previous credit agreement did not permit any
share repurchases until the company reduced its covenant leverage
below 4.5x."

"Covenants will likely remain tight, but we believe CSV can obtain
a waiver if needed.  We now expect the company to maintain 10%-15%
covenant cushion given the recent debt paydown. CSV violated its
covenants in first-quarter 2020, but did not need to amend its
covenants because lenders waived them for that quarter and kept
them unchanged for subsequent periods. CSV has been in compliance
with its covenants since then with nearly 20% cushion as of Sept.
30, 2020."

The company has a narrow focus and limited scale in the fragmented
death care market.  The $20 billion North American death care
industry is highly fragmented with nearly 80% of the market
operated by independent owners. One operator, Service Corp.
International (SCI), controls 15%-16% market share. StoneMor
Partners L.P. and CSV are the second- and third-largest market
participants, each commanding only about 1% of the market. In
addition, CSV (along with the rest of the industry) has high
fixed-cost structure and therefore its profits are sensitive to any
revenue decline.

S&P said, "The stable outlook reflects our expectation that CSV
continues to improve its operating performance, that COVID-19
remains a limited headwind, and that discretionary cash flow
(defined as cash flow from operations minus capital expenditures,
dividends, and share repurchases) as a percentage of debt stays
above 3%. It also reflects our expectation that the company will
likely remain acquisitive and that S&P Global Ratings-adjusted
leverage remains above 5x."

"We could consider a lower rating if CSV's cash flow (after capital
expenditures and dividends, but before share repurchases), as a
percentage of total debt, dips below 2%. This would likely be the
result of another large-scale COVID-19-related shutdown, which
would suppress funeral averages and pre-need cemetery sales."

"We could consider a higher rating if we gain comfort that S&P
Global Ratings-adjusted leverage will stay below 5x. While it's
possible leverage will drop below 5x in 2021, we would need to see
a longer track record of the company's willingness to balance
shareholder-friendly activities with maintaining a sub-5x leverage
profile, particularly after it refinances its senior notes."


CATALENT INC: S&P Upgrades ICR to 'BB' on Biologics Growth
----------------------------------------------------------
S&P Global Ratings raised its long-term issuer credit rating on
Somerset, N.J.-based pharmaceutical contract development and
manufacturing organization (CDMO) Catalent Inc. to 'BB' from 'BB-',
reflecting stronger financial metrics and an improving business
profile. The outlook is stable.

S&P said, "The stable outlook reflects our expectation for
double-digit percentage revenue growth in 2021 and 2022 and fairly
stable EBITDA margins, keeping adjusted net debt to EBITDA
generally 3x-4x."

"Our upgrade of Catalent reflects strengthening credit metrics as a
result of strong business performance following several
acquisitions and favorable industry trends during the COVID-19
pandemic. We now expect adjusted debt to EBITDA of 3.5x-4x, a full
turn lower than our previous expectations of the higher end of
4.5x-5x. We expect Catalent to make acquisitions, which could
temporarily elevate leverage above 4x, but EBITDA growth to enable
deleveraging within 12-18 months. Our expectation for lower
leverage is also supported by Catalent's willingness to issue
common equity to fund acquisitions, especially those not
immediately accretive."

"Catalent's strengthening credit metrics are a result of
investments over the last several years in biologics and viral
vector manufacturing, fast-expanding segments in the pharmaceutical
industry. We expect biologics to represent about 50% of Catalent's
revenues by 2023 or 2024. The segment's EBITDA margins are lower
than those of the overall business, but we believe they could
improve as new molecules fill increasing capacity. We expect the
company to increase revenue and EBITDA across its other segments.
It has a leading position in softgel manufacturing and a good
reputation in other complex dosage forms."

The company's cash flows are constrained by its heavy investment in
new capacity (S&P expects capital expenditures [capex] to be 14% of
revenue in 2021), especially in cell and gene therapy biologics
drug substance and sterile drug product. S&P believes capex will
moderate below 10% of revenue in the next few years as new capacity
comes on line. Excluding estimated growth capex, the company's free
cash flow is above $300 million (about 10% of debt).

The active history of acquisitions and heavy internal investment
has materially improved Catalent's scale and diversification. S&P
expects 2021 revenue of about $3.5 billion, about 40% higher than
2019 reported revenue. Catalent's largest product is now less than
2% of revenue, and its investment in attracting development-stage
assets should ensure a healthy pipeline of commercial products.

Underlying Catalent's revenue growth are added capabilities and a
rapidly increasing reputation for biologics manufacturing
(including complex biologic drug substance), and viral vectors
support gene and cell therapies. Although Catalent likely will add
new capabilities in these product areas via acquisitions, S&P
believes Catalent's platform in biologics and cell and gene
therapies should increase revenue for the next 5-10 years. In
addition, Catalent's partnerships on more than 50 COVID-19 vaccines
and treatments, including with Johnson & Johnson and AstraZeneca
PLC, indicate the company's strong reputation for quality and
execution.

S&P said, "Our view of Catalent also reflects its leading market
position in softgel manufacturing, diversified customer base, and
long-term contracts with high switching costs for customers. These
strengths are partially offset by the high bargaining power of its
large pharmaceutical and biotechnology customers, exposure to
regulatory disruptions to manufacturing, and high fixed-cost
structure."

"Our stable outlook on Catalent's rating reflects favorable
business trends, improving diversification and scale, and expected
leverage generally in the high-3x area in the next 12 months."

S&P could raise the rating if:

-- Catalent outperforms S&P's expectations, with adjusted debt to
EBITDA remaining in the 3.5x area and free cash flows to debt
improving to about 10%;

-- A moderation of capex to below 10% of revenue; and

-- The conversion of the preferred shares to common equity. S&P
views the conversion as likely in May 2022 if the equity share
price remains above $74 (150% of $49.54 strike price).

S&P could lower the rating if:

-- S&P expects debt to EBITDA to remain above 4x for longer than
12-18 months;

-- Preferred equity to be redeemed with cash; and

-- An acquisition to raise leverage to the high-4x area at
transaction close.


CBAV1 LLC: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: CBAV1, LLC
        1 West Broad Street
        Suite 1004
        Bethlehem, PA 18018

Chapter 11 Petition Date: October 30, 2020

Court: United States Bankruptcy Court
       Eastern District of Pennsylvania

Case No.: 20-14310

Judge: Patricia M. Mayer

Debtor's Counsel: Albert A. Ciardi III, Esq.
                  CIARDI CIARDI & ASTIN
                  1905 Spruce Street
                  Philadelphia, PA 19103
                  Tel: 215-557-3550
                  Email: aciardi@ciardilaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Rachel Chell, manager.

A copy of the Debtor's list of 20 largest unsecured creditors is
available for free at:

https://www.pacermonitor.com/view/NWFSDKQ/CBAV1_LLC__paebke-20-14310__0001.2.pdf?mcid=tGE4TAMA

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

https://www.pacermonitor.com/view/NM7UK4Y/CBAV1_LLC__paebke-20-14310__0001.0.pdf?mcid=tGE4TAMA


CEC ENTERTAINMENT: Gets Creditors' Support Debt-for-Equity Plan
---------------------------------------------------------------
CEC Entertainment, Inc., the parent of Chuck E. Cheese, on Oct. 29,
2020 announced that it has reached an agreement with the official
committee of unsecured creditors (the "Committee") and the ad hoc
group of unsecured noteholders holding greater than 50% in
principal amount of the Company's prepetition 8% senior notes to
support the Plan of Reorganization (the "Plan") and a
value-maximizing transaction with the Company's first lien lenders.
In accordance with the Plan Support Agreement ("PSA"), as amended
and restated on October 21, 2020, and now supported by consenting
creditors holding greater than 92% in principal amount of
outstanding obligations under the Company's prepetition first lien
credit agreement and greater than 80% in principal amount of the
Company's prepetition 8% senior notes, first lien lenders will
exchange their debt for equity in the reorganized Company.  

Chuck E. Cheese and Peter Piper Pizza continue to serve guests,
host birthday parties and events, and provide families with
wholesome entertainment over great food in compliance with all
applicable health and safety guidelines.

The principal terms of the debt-for-equity exchange transaction and
the treatment of claims and interests are set forth in the Plan and
accompanying disclosure statement available on the online docket of
the United States Bankruptcy Court for the Southern District of
Texas, Houston Division (the "Bankruptcy Court") or at
https://cases.primeclerk.com/cecentertainment/.

In addition, on October 13, the Bankruptcy Court approved $200
million in debtor-in-possession ("DIP") financing to support the
Company's ongoing business operations and reorganization expenses.

The court approval of $200 million in DIP financing and the global
consensus reached with a substantial majority of funded debt
creditors and the Committee continues CEC's positive momentum and
will further streamline the restructuring process as the Company
seeks to emerge from Chapter 11.

"This is an exciting milestone in our Chapter 11 cases and
demonstrates significant positive momentum as we work to position
CEC Entertainment for long-term success," said David McKillips,
CEC's Chief Executive Officer. "Our goal from the outset of the
Chapter 11 process was to pursue a value-maximizing transaction
that will allow us to emerge from bankruptcy protection with a
strengthened financial structure and able to fully implement our
strategic plan, and we are confident we will achieve those goals
with this agreement with our first lien lenders and support from
our key stakeholders. We look forward to completing our
restructuring process and working toward a timely emergence."

As of October 28, 346 company-operated Chuck E. Cheese and Peter
Piper Pizza restaurant and arcade venues are safely reopened in
accordance with all CDC, federal, state, and local guidelines as
they work to serve guests and host birthday parties and events. A
list of open locations and services provided can be found on
https://www.chuckecheese.com/reopening-directory and
https://www.peterpiperpizza.com/locations.  The Company plans to
continue opening additional locations as it is safe to do so,
steadily bringing more employees back to work and providing
families with wholesome entertainment over great food.

                    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.


CLAIRE E. GRUPPO: Proposes Swann Auction Sale of Artwork
--------------------------------------------------------
Claire E. Gruppo asks the U.S. Bankruptcy Court for the Southern
District of New York to authorize the auction sale of the following
three pieces of artwork in accordance with Swann Auction Galleries'
terms and conditions: (1) an etching by Jasper Johns titled Winter,
from Seasons (Ulae 237), 9 ½ x 6 inches, signed and dated in
pencil, Numbered 16/34 dated 1986; (2) a lithograph by Howard
Norton Cook titled New York Night, 9 3/4 x 10 inches, signed in
pencil, Edition of 75 (only 35 printed) dated 1921; and (3) a
formica on handmade paper mounted on soundboard in artist frame by
Richard Artschwager titled Last Running Man (gray right), 28 x 28
½ x 8 1/4 inches, signed on verso RA 13 dated 2013.

At the time of the filing of the petition, the Debtor was the owner
of the Artwork.

Prior to the filing of the petition, on Aug. 30, 2019, the Debtor
pledged the Artwork as security for a loan from New York Loan Co.
The total amount due to NY Loan by Nov. 10, 2020 is approximately
$12,700.  At the time of the filing of the instant Motion, the
Debtor's Artwork was in the possession of NY Loan.

Upon information and belief, based upon the expert opinion of Todd
Weyman of Swann, the Artwork has a fair market value in the range
of $29,000 to $44,000.  Due to the rarity of the Artwork and the
variability of the market, it is difficult to ascertain the exact
value of the Artwork.  However, Mr. Weyman, in his expertise,
believes that the Artwork, at auction, will attract at least the
described numbers.  Accordingly, there is substantial equity in
said Artwork which is property of the Debtor's bankruptcy estate.

It has been the Debtor's intention from the outset of the Chapter
11 case to liquidate her assets to fund her Chapter 11 Plan of
Reorganization and it is one of the first steps in that process.  

The Debtor, simultaneously with the filing of the Application, has
filed an Application to Retain Swann, as Auctioneer to the Debtor,
to sell the Artwork at auction.  The Debtor by her Application asks
approval to sell the Artwork in accordance with the terms and
conditions set forth by Swann, at an auction to be held in November
2020.

The Debtor requested that NY Loan voluntarily turnover the Artwork
to Swann to facilitate the auction of the Artwork.  She does not
dispute that an obligation is due and owing to NY Loan and that it
will receive the first disbursement from the proceeds of the
auction after the cost of sale and fully anticipates that NY Loan
will be paid in full as a result of the proposed sale.  

The potential amount to be realized at auction (with the
understanding that the values placed on the Artwork by Swann are
conservative values) is approximately $36,000.  It would result in
a satisfaction of NY Loan's secured claim in full.  The balance of
the proceeds from the auction would be deposited in the Debtor's
counsel’s escrow account for the purpose of funding her Chapter
11 Plan of Reorganization.  

The Debtor believes that an auction of the Artwork would realize
the best return on the Artwork, result in a satisfaction of NY
Loan's claim in full, and provide a surplus to the Debtor which
will ultimately fund the Debtor’s Chapter 11 Plan of
Reorganization.  Further, she believes that, due to the rarity of
the Artwork, an auction of the Artwork by Swann is in the best
interests of her estate.   

The Debtor is not asking reduction in time of the notice period
required by Rule 2002.

A hearing on the Motion is set for Nov. 10, 2020 at 9:00 a.m.
Objections, if any, must be filed at least seven days prior to the
return date of the Motion.

A copy of the Consignment Agreement is available at
https://tinyurl.com/y6bc4yv7 from PacerMonitor.com free of charge.

Counsel for Debtor:

          Andrea B. Malin, Esq.
          Michelle L. Trier, Esq.
          GENOVA & MALIN LLP
          1136 Route 9     
          Wappingers Falls, NY  12590
          Telephone: (845) 298-1600

Claire E. Gruppo sought Chapter 11 protection (Bankr. S.D.N.Y. Case
No. 20-35797) on July 29, 2020.  The Debtor tapped Michelle Trier,
EsGenova & Malin, as counsel.


COMCAR INDUSTRIES: C&D Logistics Buying Low Value Assets for $19K
-----------------------------------------------------------------
Comcar Industries, Inc. and its affiliated debtors filed with the
U.S. Bankruptcy Court for the District of Delaware a notice of
their proposed sale of low value assets, as set forth in the Bill
of Sale (Exhibit A), to C&D Logistics for $19,000, free and clear
of all Liens.

On Sept. 2, 2020, the Court entered the Order, which, among other
things, established the De Minimis Asset Sale Procedures.  

Pursuant to the De Minimis Asset Sale Procedures, the Debtors
submit the De Minimis Sale Notice in connection with their sale of
the Assets to the Purchaser.  

The total selling price for the Sale to the Purchaser is for
$19,000, which is under the limit set forth in the De Minimis Asset
Sale Procedures.  The Sale does not include payments to be made by
the Debtors on account of commission fees to agents, brokers or
auctioneers.  The Debtors intend to use the proceeds from the Sale
to fund the administration of these chapter 11 cases and, if
applicable, to distribute funds in accordance with the priority
scheme set forth in orders of the Court, their financing documents
and/or the Bankruptcy Code.  The Purchaser is not an insider of the
Debtors.  

The Objection Deadline is Oct. 21, 2020 at 4:00 p.m. (ET).  If no
objection to the De Minimis Sale Notice is timely filed and served
in accordance with it and the De Minimis Asset Sale procedures, the
Debtors may consummate the sale without further notice.

Copies of all filings in the Debtors' chapter 11 cases are
available for free on the website of the Court-appointed claims and
noticing agent in these chapter 11 cases, Donlin Recano & Co.,
Inc., at https://www.donlinrecano.com/Comcar.  

A copy of the Exhibit A is available at
https://tinyurl.com/yyrym33f from PacerMonitor.com free of charge.

                      About Comcar Industries

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

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

The Hon. Laurie Selber Silverstein is the presiding judge.

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



COMCAR INDUSTRIES: C&D Logistics Buying Low Value Assets for $20K
-----------------------------------------------------------------
Comcar Industries, Inc. and its affiliated debtors filed with the
U.S. Bankruptcy Court for the District of Delaware a notice of
their proposed sale of low value assets, as set forth in the Bill
of Sale (Exhibit A), to C&D Logistics for $20,000, free and clear
of all Liens.

On Sept. 2, 2020, the Court entered the Order, which, among other
things, established the De Minimis Asset Sale Procedures.  

Pursuant to the De Minimis Asset Sale Procedures, the Debtors
submit the De Minimis Sale Notice in connection with their sale of
the Assets to the Purchaser.  

The total selling price for the Sale to the Purchaser is for
$20,000, which is under the limit set forth in the De Minimis Asset
Sale Procedures.  The Sale does not include payments to be made by
the Debtors on account of commission fees to agents, brokers or
auctioneers.  The Debtors intend to use the proceeds from the Sale
to fund the administration of these chapter 11 cases and, if
applicable, to distribute funds in accordance with the priority
scheme set forth in orders of the Court, their financing documents
and/or the Bankruptcy Code.  The Purchaser is not an insider of the
Debtors.  

The Objection Deadline is Oct. 21, 2020 at 4:00 p.m. (ET).  If no
objection to the De Minimis Sale Notice is timely filed and served
in accordance with it and the De Minimis Asset Sale procedures, the
Debtors may consummate the sale without further notice.

Copies of all filings in the Debtors' chapter 11 cases are
available for free on the website of the Court-appointed claims and
noticing agent in these chapter 11 cases, Donlin Recano & Co.,
Inc., at https://www.donlinrecano.com/Comcar.  

A copy of the Exhibit A is available at
https://tinyurl.com/y66wxhnk from PacerMonitor.com free of charge.

                      About Comcar Industries

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

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

The Hon. Laurie Selber Silverstein is the presiding judge.

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



COMCAR INDUSTRIES: Reaches Final Sale Deal With Creditors
---------------------------------------------------------
Law360 reports that bankrupt trucking firm Comcar Industries Inc.
reached a deal with creditors and other parties Sept. 3, 2020, in
Delaware that allows it to proceed consensually with a Chapter 11
sale of its last business line.

During a virtual hearing that stopped and started several times to
allow for continuing negotiations, Comcar announced the terms of a
settlement among the debtor, its unsecured creditors and a former
director that allowed the court to approve a $4.5 million sale of
Comcar subsidiary CCC Transportation.

The Debtor signed a deal to sell the business to Florida Rock &
Tank Lines, Inc., for $4,075,000, subject to overbid.  TFI
International Inc. later announced that it has acquired the
business for a total consideration of $6.8 million.

                        About Comcar Industries

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

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

The Hon. Laurie Selber Silverstein is the presiding judge.

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






COMCAR INDUSTRIES: Tankstar Buying Low Value Assets for $467K
-------------------------------------------------------------
Comcar Industries, Inc. and its affiliated debtors filed with the
U.S. Bankruptcy Court for the District of Delaware a notice of
their proposed sale of low value assets, as set forth in the Bill
of Sale (Exhibit A), to Tankstar USA, Inc. for $467,000, free and
clear of all Liens.

On Sept. 2, 2020, the Court entered the Order, which, among other
things, established the De Minimis Asset Sale Procedures.  

Pursuant to the De Minimis Asset Sale Procedures, the Debtors
submit the De Minimis Sale Notice in connection with their sale of
the Assets to the Purchaser.  

The total selling price for the Sale to the Purchaser is for
$467,000, which is under the limit set forth in the De Minimis
Asset Sale Procedures.  The Sale does not include payments to be
made by the Debtors on account of commission fees to agents,
brokers or auctioneers.  The Debtors intend to use the proceeds
from the Sale to fund the administration of these chapter 11 cases
and, if applicable, to distribute funds in accordance with the
priority scheme set forth in orders of the Court, their financing
documents and/or the Bankruptcy Code.  The Purchaser is not an
insider of the Debtors.  

The Objection Deadline is Oct. 20, 2020 at 4:00 p.m. (ET).  If no
objection to the De Minimis Sale Notice is timely filed and served
in accordance with it and the De Minimis Asset Sale procedures, the
Debtors may consummate the sale without further notice.

Copies of all filings in the Debtors' chapter 11 cases are
available for free on the website of the Court-appointed claims and
noticing agent in these chapter 11 cases, Donlin Recano & Co.,
Inc., at https://www.donlinrecano.com/Comcar.  

A copy of the Exhibit A is available at
https://tinyurl.com/y4mt8qkr from PacerMonitor.com free of charge.

                    About Comcar Industries

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

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

The Hon. Laurie Selber Silverstein is the presiding judge.

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


COMMUNITY HEALTH: Posts $112 Million Net Income in Third Quarter
----------------------------------------------------------------
Community Health Systems, Inc., filed with the Securities and
Exchange Commission its Quarterly Report on Form 10-Q disclosing
net income attributable to the company's stockholders of $112
million on $3.12 billion of net operating revenues for the three
months ended Sept. 30, 2020, compared to a net loss attributable to
the company's stockholders of $17 million on $3.24 billion of net
operating revenues for the three months ended Sept. 30, 2019.

For the nine months ended Sept. 30, 2020, the Company reported net
income attributable to the company's stockholders of $200 million
on $8.67 billion of net operating revenues compared to a net loss
attributable to the company's stockholders of $302 million on $9.92
billion of net operating revenues for the same period during the
prior year.

As of Sept. 30, 2020, the Company had $16.51 billion in total
assets, $17.99 billion in total liabilities, $481 million in
redeemable noncontrolling interests in equity of consolidated
subsidiaries, and a total stockholders' deficit of $1.95 billion.

Community Health stated, "Developments related to COVID-19 have
materially affected our financial performance during 2020.
Additionally, while we are not able to fully quantify the impact
that the COVID-19 pandemic will have on our future financial
results, we expect developments related to COVID-19 to materially
affect our financial performance during the remainder of 2020, and,
potentially, in future periods.  Moreover, the COVID-19 pandemic
may have material adverse effects on our results of operations,
financial position, and/or our cash flows.  The ultimate impact of
the pandemic on our financial results will depend on, among other
factors, the duration and severity of the pandemic and negative
economic conditions arising from the pandemic, the volume of
canceled or rescheduled procedures at our facilities, the volume of
COVID-19 patients cared for across our health systems, the timing
and availability of effective medical treatments and vaccines, and
the impact of government actions and administrative regulation on
the hospital industry and broader economy, including through
existing and any future stimulus efforts.  COVID-19 developments
continue to evolve quickly, and additional developments may occur
which we are unable to predict.  Furthermore, the COVID-19 pandemic
has resulted in, and may continue to result in, significant
disruption of global financial markets, which could reduce our
ability to access capital and negatively affect our liquidity in
the future.  Finally, the pandemic could heighten the level of risk
in certain of the other risk factors described in the 2019 Form
10-K, any of which could have a material effect on us."

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

https://www.sec.gov/ix?doc=/Archives/edgar/data/1108109/000156459020048373/cyh-10q_20200930.htm

                      About Community Health

Community Health Systems, Inc. -- http://www.chs.net/-- is a
publicly traded hospital company and an operator of general acute
care hospitals in communities across the country.  The Company,
through its subsidiaries, owns, leases or operates 99 affiliated
hospitals in 17 states with an aggregate of approximately 16,000
licensed beds.  The Company's headquarters are located in Franklin,
Tennessee, a suburb south of Nashville.  

Community Health reported a net loss attributable to the Company's
stockholders of $675 million for the year ended Dec. 31, 2019,
following a net loss attributable to the Company's stockholders of
$788 million for the year ended Dec. 31, 2018.  As of Dec. 31,
2019, the Company had $15.61 billion in total assets, $17.25
billion in total liabilities, $502 million in redeemable
noncontrolling interests in equity of consolidated subsidiaries,
and a total stockholders' deficit of $2.14 billion.

                            *    *    *

As reported by the TCR on Nov. 29, 2019, S&P Global Ratings raised
its issuer credit rating on U.S.-based hospital operator Community
Health Systems Inc. to 'CCC+' from 'SD' (selective default).  The
upgrade to 'CCC+' reflects the company's longer-dated debt maturity
schedule, and S&P's view that Community's efforts to rationalize
its hospital portfolio as well as improve financial performance and
cash flow should strengthen credit measures over the next couple of
years.

In November 2019, Fitch Ratings downgraded Community Health
Systems, Inc.'s Issuer Default Rating to 'C' from 'CCC' following
the company's announcement of an offer to exchange a series of
senior unsecured notes due 2022.


CORALVILLE, IA: S&P Affirms 'BB+' GO Bonds Rating
-------------------------------------------------
S&P Global Ratings revised its outlook to negative from stable and
affirmed its 'BB+' rating on Coralville, Iowa's outstanding general
obligation (GO) bonds. At the same time, S&P affirmed its 'BB'
rating on the city's outstanding appropriation bonds and lease
rental payment bonds.

"The negative outlook reflects our view of the city's exposure to
COVID-19 linked revenue pressure and the challenge this poses to
the budget and in supporting debt service," said S&P credit analyst
Helen Samuelson. "Depending on how acute the city's revenue
declines prove to be, its credit rating could be lowered by
multiple notches," Ms. Samuelson added.

This impairment could take the form of weakened budgetary
performance, flexibility and/or liquidity, and it could also be
exemplified by additional debt restructuring indicating a
distressed scenario.

S&P's rating incorporates its view of the COVID-19 pandemic, which
is a social risk affecting the city's revenue-producing facilities,
events and programs. Absent the implications of the pandemic, S&P
has analyzed the city's environmental and governance (ESG) factors
and have concluded that all are in line with sector peers.

Coralville is northwest of Iowa City, which is home to the
University of Iowa.


COSMOLEDO LLC: Sale of Maison Kayser to Aurify Has Interim Approval
-------------------------------------------------------------------
Leslie A. Pappas of Bloomberg Law reports that Aurify Brands, a
restaurant operator that's buying Maison Kayser's U.S. bakeries in
a bankruptcy liquidation, won preliminary court approval of its
$8.4 million acquisition and revealed plans to reopen some, if not
all, of the 16 locations under another brand.

Reopening the stores will largely depend on negotiations with
landlords, Aurify's attorney, Steven J. Reisman of Katten Muchin
Rosenman LLP, said at a hearing Thursday, October 29, 2020,. Aurify
Brands has agreements covering seven of the 16 stores, which are
all in New York, he said.  The locations with no lease deals by
Nov. 4, 2020 will be abandoned, he said.

                        About Cosmoledo LLC

Cosmoledo, LLC and affiliates own and operate 16 fine casual bakery
cafes in New York City under the trade name "Maison Kayser."
Maison Kayser, a global brand, is an authentic artisanal French
boulangerie that has been doing business in New York since 2012.
For more information, visit https://maison-kayser-usa.com/

Cosmoledo and its affiliates, including Breadroll, LLC, sought
Chapter 11 protection (Bankr. S.D.N.Y Lead Case No. 20-12117) on
Sept. 10, 2020.

In the petitions signed by CEO Jose Alcalay, Debtors were estimated
to have assets in the range of $10 million to $50 million, and $50
million to $100 million in debt.

The Debtors have tapped Mintz & Gold LLP as their bankruptcy
counsel, and CBIZ Accounting, Tax and Advisory of New York LLC as
their financial advisor, accountant and consultant.  Donlin Recano
& Co., Inc. -- https://www.donlinrecano.com/Clients/mk/Index -- is
the claims agent.

The U.S. Trustee for Region 2 appointed a committee to represent
unsecured creditors in the Debtors' Chapter 11 cases.  The
committee is represented by Hahn & Hessen LLP.


DEPENDABLE BUILDING: Status Hearing to Be Held Nov. 5.
------------------------------------------------------
On August 10, 2020, debtor Dependable Building Services, Inc. filed
with the U.S. Bankruptcy Court for the Northern District of
Illinois, Eastern Division, a Third Amended Plan of Reorganization
and Third Amended Disclosure Statement.

On August 27, 2020, Judge Deborah L. Thorne ordered that:

  * October 15, 2020, at 10:00 a.m. is the telephonic combined
hearing on the adequacy of the Disclosure Statement and
confirmation of the Plan.

  * October 6, 2020, is fixed as the last day for filing and
serving written objections to the adequacy of the Disclosure
Statement and confirmation of the Plan.

  * October 6, 2020, is fixed as the last day for filing written
acceptances or rejections of the Plan.

  * Debtor's counsel shall file the ballot report as provided by
Local Rule 3018-1 on or before October 12, 2020.

According to the docket, the Oct. 15, 2020 hearing has been
continued.  A status hearing will be held on Nov. 5, 2020 at 10:00
a.m. at Appear by Telephone Chicago, Chicago, IL, 60604..

A full-text copy of the order dated August 27, 2020, is available
at https://tinyurl.com/y6fsuh2e from PacerMonitor at no charge.

Attorney for the Debtor:
     Joel A. Schechter
     LAW OFFICES OF JOEL A. SCHECHTER
     53 W. Jackson Blvd., Suite 1522
     Chicago, Illinois 60604
     Tel: (312) 332-0267
     E-mail: joel@jasbklaw.com

        About Dependable Building Services

Founded in 1992, Dependable Building Services, Inc.
--http://www.dependablebuildingservices.com/-- is a commercial
contractor that performs HVAC, electrical, fire suppression, and
generator service and construction. It serves commercial, retail,
industrial and telecom industries.  

Dependable Building Services previously filed a Chapter 11 petition
(Bankr. N.D. Ill. Case No. 17-24129) on Aug. 11, 2017.

Dependable Building Services again sought protection under Chapter
11 of the Bankruptcy Code (Bankr. N.D. Ill. Case No. 19-19772) on
July 15, 2019.  At the time of the filing, the Debtor was estimated
to have assets of between $100,000 and $500,000 and liabilities of
between $1 million and $10 million.  The case is assigned to Judge
Deborah L. Thorne.  The Law Offices of Joel A. Schechter is the
Debtor's counsel.


DIAMOND SPORTS: S&P Places 'BB-' ICR on CreditWatch Negative
------------------------------------------------------------
S&P Global Ratings placed its ratings on Diamond Sports Holdings
LLC (DSH), including its 'BB-' issuer credit rating on CreditWatch
with negative implications as the rating agency reevaluates its
original assumption that Sinclair Broadcast Group Inc. (SBGI), the
parent company of DSH, will provide additional support to DSH if
credit quality and debt trading levels do not materially improve.


The rating agency also placed its ratings on Diamond Sports Group
LLC (DSG), including its 'BB-' issuer credit ratings on CreditWatch
with negative implications.  

DSH, a subsidiary of SBGI, continues to face operating challenges
during the pandemic. While Major League Baseball (MLB) resumed play
in the third quarter of 2020, the start of the 2020-2021 National
Basketball Association (NBA) season is still uncertain, and the
start of the National Hockey League (NHL) season has been pushed to
the beginning of 2021. Ongoing high-single-digit subscriber
declines at traditional multichannel video programming distribution
(MVPD) companies could threaten distribution revenue for the next
few years.

DSH continues to face operating challenges during the pandemic, and
extraordinary support from its parent SBGI is uncertain.

Since the beginning of the pandemic in March, DSH has experienced
cancellations and delays of its 2020 sports programming schedule.
While its three major sports leagues (i.e., MLB, NHL, and NBA)
managed to complete shortened 2020 seasons, all three face an
uncertain schedule in 2021 and could face additional cancellations
and delays. In addition, overall pay-TV video subscriber continues
to trend downward, which S&P believes will hurt regional sports
networks more than other TV networks. As such, DSH could have
difficulty stabilizing or increasing revenues over the next three
to five years if this trend persists.

"We believe these negative operating trends combined with DSG debt
that has traded at a steep discount for more than seven months may
increase the likelihood that parent SBGI is unwilling to provide
extraordinary support under any foreseeable circumstance," S&P
said.

"We base our current rating on DSH, as well as the debt held by
subsidiary DSG, on DSH's status as core to SBGI's strategic
objectives and the latter's strong, long-term commitment of support
to DSH under stressful conditions. If we conclude that SBGI is
unlikely to provide support under all foreseeable circumstances, we
would evaluate DSH on a stand-alone basis within the group, which
could result in a lower rating," S&P said.

On a stand-alone basis, DSH has high leverage and faces uncertain
growth prospects, which could result in a lower rating than the
'BB-' issuer credit rating on parent SBGI.

As of June 30, 2020, DSH's net leverage was very high at over 8.5x.
If S&P assesses the rating on DSH on a stand-alone basis, its view
of the business could be weaker than its view of SBGI on a
consolidated basis due to the negative trends at the regional
sports networks, including the impact of the coronavirus pandemic
on the number of games played, declining subscriber trends, and
uncertainty surrounding 2021 performance.

"In resolving the CreditWatch placement, we will reassess the
relationship between the parent company, SBGI, and its subsidiary
DSH, including our view of SBGI's willingness to support DSH under
any foreseeable circumstance. We expect to meet with SBGI
management prior to resolving the CreditWatch," S&P said.

"If we revise our current assessment and determine that evidence of
support is insufficient, we will assess DSH on a stand-alone basis,
which could result in a multi-notch rating downgrade for DSH, DSG,
and our issue-level ratings at DSG. If we believe there is
sufficient evidence of support, we will likely affirm the 'BB-'
rating, which mirrors our rating on SBGI," the rating agency said.


DIOCESE OF ROCKVILLE: Hires Epiq as Administrative Agent
--------------------------------------------------------
The Roman Catholic Diocese of Rockville Centre, New York, seeks
authority from the U.S. Bankruptcy Court for the Southern District
of New York to employ Epiq Corporate Restructuring, LLC, as
administrative agent to the Debtor.

Diocese of Rockville requires Epiq to:

   a. assist with, among other things, solicitation, balloting,
      tabulation, and calculation of votes, as well as prepare
      any appropriate reports, as required in furtherance of
      confirmation of plan(s) of reorganization, and in
      connection with such services, process requests for
      documents from parties in interest; and

   b. generate an official ballot certification and testify, if
      necessary, in support of the ballot tabulation results.

Epiq will be paid at these hourly rates:

     Executives                                       No Charge
     Executive Vice President, Solicitation             $215
     Solicitation Consultant                            $195
     Consultants/Directors/Vice Presidents           $165-$195
     Case Managers                                    $85-$165
     IT/Programming                                   $65-$85
     Clerical/Administrative Support                  $35-$55

Epiq will be paid a retainer in the amount of $25,000.

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

Kathryn Tran, a partner at Epiq Corporate Restructuring, 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.

Epiq can be reached at:

     Kathryn Tran
     EPIQ CORPORATE RESTRUCTURING, LLC
     777 Third Avenue, 12th Floor
     New York, NY 10017
     Tel: (212) 225-9200

               About The Roman Catholic Diocese
                 of Rockville Centre, New York

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 has tapped Jones Day as legal 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.


DLT RESOLUTION: Reports $77,000 Net Loss for Quarter Ended June 30
------------------------------------------------------------------
DLT Resolution, Inc., filed its quarterly report on Form 10-Q,
disclosing a net loss of $76,836 on $549,453 of revenue for the
three months ended June 30, 2020, compared to a net loss of $14,150
on $113,358 of revenue for the same period in 2019.

At June 30, 2020, the Company had total assets of $4,561,454, total
liabilities of $3,195,820, and $1,365,634 in total stockholders'
equity.

The Company said, "Currently, we have limited cash, and an
accumulated deficit of $4,653,230.  These factors raise substantial
doubt about our ability to continue as a going concern.  We will be
dependent upon the raising of additional capital through placement
of our common stock in order to implement its business plan, or
merge with an operating company.  There can be no assurance that we
will be successful in either situation in order to continue as a
going concern.  Our officers and directors have demonstrated a
willingness to advance funds to us to be used to pay certain of our
operating costs."

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

                       https://is.gd/io0e8H

DLT Resolution, Inc., together with its subsidiaries, operates in
blockchain applications, telecommunications, and data services in
the United States and Canada. The company also offers secure data
management, information technology, and other telecommunications
services. It also provides health information exchange services
through its RecordsBank.org portal, which is a centralized system
for patients, lawyers, and insurers to retrieve and access medical
records. The company was formerly known as Hemcare Health Services
Inc. and changed its name to DLT Resolution Inc. in December 2017.
DLT Resolution Inc. was founded in 2007 and is based in Las Vegas,
Nevada.



DOLPHIN ENTERTAINMENT: Has $2.9-Mil. Net Loss for June 30 Quarter
-----------------------------------------------------------------
Dolphin Entertainment, Inc. filed its quarterly report on Form
10-Q, disclosing a net loss of $2,943,601 on $5,194,725 of total
revenues for the three months ended June 30, 2020, compared to a
net loss of $796,650 on $6,273,983 of total revenues for the same
period in 2019.

At June 30, 2020, the Company had total assets of $49,746,571,
total liabilities of $30,207,126, and $19,539,445 in total
stockholders' equity.

The Company disclosed factors that raise substantial doubt about
its ability to continue as a going concern.

The Company said, "The Company had net loss of $2,943,601 and
$869,754, respectively, for the three and six months ended June 30,
2020, and had an accumulated deficit of $96,902,603 as of June 30,
2020.  As of June 30, 2020, the Company had a working capital
deficit of $2,380,135 and therefore does not have adequate capital
to fund its obligations as they come due or to maintain or grow its
operations.  In addition, several of our subsidiaries operate in
industries that have been adversely affected by the government
mandated work-from-home, stay-at-home and shelter-in-place orders
as a result of the novel coronavirus COVID-19.  As a result, the
Company's revenues have been negatively impacted by a reduction in
the services we provide to clients operating in these industries.
The Company has taken measure such as a freeze on hiring, salary
reductions, staff reductions and cuts in non-essential spending to
mitigate the reduction in revenues.  The Company is dependent upon
funds from the issuance of debt securities, securities convertible
into shares of Common Stock, sales of shares of Common Stock and
financial support of certain shareholders.  The continued spread of
COVID-19 and uncertain market conditions may limit the Company's
ability to access capital.  If the Company is unable to obtain
funding from these sources within the next 12 months, it could be
forced to curtail its business operations or liquidate."

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

                       https://is.gd/grDtYv

Dolphin Entertainment, Inc., operates as an independent
entertainment marketing and premium content development company in
the United States. It operates in two segments, Entertainment
Publicity and Marketing; and Content Production. The Entertainment
Publicity and Marketing segment offers public relations,
entertainment content marketing, strategic communications, social
media marketing, creative branding, talent publicity, and
entertainment marketing services, as well as produces marketing
video content. The Content Production segment produces and
distributes feature films and digital content. The company was
formerly known as Dolphin Digital Media, Inc. and changed its name
to Dolphin Entertainment, Inc. in July 2017.  Dolphin Entertainment
is headquartered in Coral Gables, Florida.


DPL INC: S&P Alters Outlook to Developing From Negative
-------------------------------------------------------
S&P Global Ratings affirmed its ratings on Dayton, Ohio-based DPL
Inc. (DPL) and its principal subsidiary Dayton Power & Light Co.
(DP&L). At the same time, S&P revised its outlooks on the companies
to developing from negative.

The outlook revision follows the settlement reached between DP&L
and the Public Utilities Commission of Ohio (PUCO) staff and other
parties over several regulatory matters, including DP&L's proposed
smart grid plan, findings that DP&L passed the significant
excessive earning test (SEET) for 2018 and 2019, and findings that
DP&L's current electric security plan (ESP 1) satisfies the SEET
and the "more favorable in the aggregate" (MFA) regulatory test.

In addition, DPL's parent provided a statement of intent to provide
DPL or DP&L capital contributions, which is not guaranteed and is
dependent on certain conditions. The settlement suggests AES Corp.
will likely support DPL with equity, which should improve DPL's
financial measures over time. S&P's base case assumes a funds from
operations (FFO)-to-debt ratio of just under 9% in 2021, and debt
to EBITDA of close to 7x for the same period. Additional equity
support from AES will likely improve DPL's consolidated FFO to debt
above 10% beginning in 2022. This scenario assumes capital spending
averaging about $225 million beginning in 2022, timely recovery of
the company's investments, and a regulatory order that is largely
consistent with the settlement terms.

Another path to a ratings uplift for DPL reflects a potential
ratings upgrade to parent AES Corp., considering DPL's status as
part of the AES Corp. group. As such, given the reduced downside
risk for DPL at this point, a ratings upgrade at AES Corp could
lead to higher ratings for DPL and DP&L, consistent with S&P's
criteria.

Notwithstanding, prior regulatory orders or decisions have been
detrimental to credit quality for DP&L and its peers. Thus the
developing outlook takes into account the possibility that a final
regulatory order may not be consistent with the current settlement,
at which point DPL's credit quality may weaken.

The developing outlook reflects the potential for a ratings upgrade
over the coming months, incorporating either the potential for
improved stand-alone consolidated financial measures at DPL Inc. or
a ratings upgrade for parent AES Corp., consistent with S&P's
criteria. However, the developing outlook also considers the
possibility that should a final order materially deviate from the
settlement terms, DPL's credit quality may weaken. To that end, S&P
could affirm the ratings and revise the outlooks to stable over the
coming months if DPL maintains its FFO-to-debt ratio of 8%-9%
consistently, with the rating agency's expectation of gradual
improvement in its consolidated financial measures. This scenario
assumes a final regulatory order in line with the current
settlement and that S&P does not upgrade AES Corp.

"We could lower our ratings on DPL and DP&L over the coming months
if a final regulatory order is materially different from expected,
the combined effects of which, may lead to a weaker consolidated
credit profile for DPL, such that FFO to debt is below 7.5%," S&P
said.

"We could raise the ratings on both entities over the same period
if DPL's consolidated stand-alone financial measures improve, such
that FFO to debt beginning in 2021 is consistently at or above 10%.
We could also raise the rating if we upgrade DPL's parent, AES
Corp.," the rating agency said.


DPW HOLDINGS: Establishes Alliance Cloud Services
-------------------------------------------------
DPW Holdings, Inc.'s subsidiary, Ault Alliance, Inc., has formed a
new subsidiary, Alliance Cloud Services, LLC, to drive its efforts
to deliver services to the Hyperscale and Cloud Data Center markets
currently estimated to grow to reach revenues of over $108 billion
by 2025 according to a June 16, 2020 study by Arizton Advisory and
Intelligence.

The study by Arizton also disclosed the following factors that are
likely to contribute to the growth of the Hyperscale Data Center
market during the forecast period:

   * Digitalization and data regulation are aiding in exponential
     expansion activities by global hyperscale cloud service
     providers;

   * The market witnessed around 115 new hyperscale facilities
     through projects opened and under construction in 2019.
These
     projects are built with a minimum power capacity of 15 MW;

   * AI Boosts liquid immersion & direct-to-chip cooling adoption;

   * Increasing deployment of software-defined data center;
   
   * Increased adoption of OCPs & hyperscale-specific
     infrastructure;

   * Increasing penetration of 200GbE & 400GbE switch ports;

   * Increased demand for data on the order of roughly 600
     zettabytes of new data is generated each year (i.e., 600
     trillion gigabytes);

   * Fiber infrastructure deployment (fiber is the foundation for
5/
     small cell deployments and require a greater number of fiber
     pairs); and

   * Wireless expansion (4G and 5G demand)

The global hyperscale data center market research report includes a
detailed segmentation by IT infrastructure, electrical
infrastructure, mechanical infrastructure, general construction,
and geography.  The demand for servers suitable for cloud computing
environments will continue to grow as service providers expand
their presence globally.  There will be an increase in demand for
servers with multicore processors, and memory will grow as the
average number of virtual machines per physical server continues to
rise. The US market recorded a growth of around 302% in the server
market revenue with the shipments growing at around 40% in 2029,
according to Arizton.

Darren Magot, the CEO of Ault Alliance, Inc. said, "We are
executing on our plan to enter into the data center market with the
formation of Alliance Cloud Services.  The purpose of forming this
entity was to support the development of key partners and strategic
assets over the remainder of 2020 and throughout next year.  We
look forward to further development of these relationships as we
drive into the Hyperscale and Cloud Data Center markets and will
update the public about its impact to the Company's revenue
growth."

                        About DPW Holdings

DPW Holdings, Inc. -- http://www.DPWHoldings.com/-- is a
diversified holding company pursuing growth by acquiring
undervalued businesses and disruptive technologies with a global
impact. Through its wholly and majority-owned subsidiaries and
strategic investments, the Company provides mission-critical
products that support a diverse range of industries, including
defense/aerospace, industrial, telecommunications, medical, and
textiles. In addition, the Company owns a select portfolio of
commercial hospitality properties and extends credit to select
entrepreneurial businesses through a licensed lending subsidiary.
DPW's headquarters are located at 201 Shipyard Way, Suite E,
Newport Beach, CA 92663.

DPW Holdings recorded a net loss available to common stockholders
of $32.93 million for the year ended Dec. 31, 2019, compared to a
net loss available to common stockholders of $32.34 million for the
year ended Dec. 31, 2018.  As of June 30, 2020, the Company had
$40.49 million in total assets, $37.46 million in total
liabilities, and $3.03 million in total stockholders' equity.

Ziv Haft., Certified Public Accountants (Isr.) BDO Member Firm, the
Company's auditor since 2012, issued a "going concern"
qualification in its report dated May 29, 2020 citing that the
Company has a working capital deficiency, has incurred significant
losses and needs to raise additional funds to meet its obligations
and sustain its operations.  These conditions raise substantial
doubt about the Company's ability to continue as a going concern.


DRIVE SHACK: Has $39.5-Mil. Net Loss for Quarter Ended June 30
--------------------------------------------------------------
Drive Shack Inc. filed its quarterly report on Form 10-Q,
disclosing a net loss of $39,526,000 on $32,100,000 of total
revenues for the three months ended June 30, 2020, compared to a
net loss of $12,959,000 on $71,615,000 of total revenues for the
same period in 2019.

At June 30, 2020, the Company had total assets of $457,073,000,
total liabilities of $448,405,000, and $8,668,000 in total equity.

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

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

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

                       https://is.gd/JVSjLi

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


EAGLE PIPE: Sets Bidding Procedures for Substantially All Assets
----------------------------------------------------------------
Eagle Pipe, LLC, asks the U.S. Bankruptcy Court for the Southern
District of Texas to authorize the bidding procedures in connection
with the auction sale of substantially all of assets.

The Court's Cash Collateral Order sets forth certain sale
milestones to which the Debtor agreed in conjunction with reaching
an agreement for the consensual interim and final use of cash
collateral with its prepetition secured lenders.  As set forth in
the Cash Collateral Order, the Secured Parties hold perfected
first-priority security interests in substantially all of the
Debtor's Assets, including inventory, accounts, cash and certain
causes of action described in the Cash Collateral Order.  The
Debtor has stipulated to the amount of the Secured Parties'
prepetition claim.

While the Debtor is optimistic that the sale process described will
generate a purchase price in excess of the secured debt owed to the
Secured Parties, it believes the Secured Parties will ultimately
consent to a free and clear sale, even if the sale is insufficient
to pay the Secured Parties in full.  As of the filing of the
Motion, the Secured Parties have not consented to such a sale.

The Debtor asks that the Court schedules two hearings in connection
with the Motion: first, a hearing to consider and approve the
Bidding Procedures and schedule the Auction, Sale Hearing, and
related deadlines; and second, the Sale Hearing itself.  The Debtor
proposes to solicit bids, conduct the Auction, and have a Proposed
Sale approved.  It has begun an expedited marketing process to
provide parties in the industry an opportunity to file bids.

The salient terms of the Bidding Procedures are:

     a. Bid Deadline: Nov. 16, 2020 at 4:00 p.m. (CT)

     b. Initial Bid: At the Auction, to the extent a Stalking Horse
Bidder has been named, the initial overbid must exceed such
Stalking Horse Bid by the amount of the Break-Up Fee plus an
additional $100,000.  

     c. Deposit: 10% of the aggregate value of the cash and
non-cash consideration of the bid

     d. Auction: If the Debtor receives more than one Qualified
Bid, an auction will be conducted, upon notice to all Qualified
Bidders who have submitted Qualified Bids, at 10:00 a.m. (CT) on
Nov. 20, 2020, virtually and/or at the offices of Gray Reed, 1300
Post Oak Boulevard, Suite 2000, Houston, Texas 77056, in accordance
with the terms of the Bidding Procedures.

     e. Bid Increments: $100,000

     f. Sale Hearing: Nov. 30, 2020 at 9:00 a.m. (CT)

     g. Sale Objection Deadline: Nov. 18, 2020 at 4:00 p.m. (CT)

     h. Closing: Dec. 11, 2020

     i. Any Proposed Sale(s) entered into with the Debtor will be
on an "as is, where is" basis and without representations or
warranties of any kind, nature, or description, free and clear of
all Claims and Interests, with such Claims and Interests attaching
to the net proceeds of the sale.

In exercising of its business judgment, after consultation with the
Consulting Parties, the Debtor may, without any obligation to do
so, select one or more bidders to act as a Stalking Horse Bidder.
Further, as contemplated by the bidding Procedures Order, the
Debtor will be permitted, but not directed, to incur and pay a
break-up fee in an amount not to exceed 4% of the cash component of
a Stalking Horse Bid and, in the Debtor's discretion, an expense
reimbursement of no more than $200,000.

If the Debtor declares one or more Stalking Horse Bidders, it will
promptly file a notice of the same with the Court, along with a
copy of the Stalking Horse Bid(s) and the operative asset purchase
agreement at least seven days prior to the Bid Deadline.  Parties
in interest will have five days to object to the designation of the
Stalking Horse Bid and any proposed Break-Up Fee.  Thereafter, if
no objection is received or if the Court approves the designation
of a Stalking Horse Bidder after considering any objections, the
related Break-Up Fee will be paid upon out of the sale proceeds
from the applicable sale or sales to a bidder or bidders who are
not the Stalking Horse Bidder(s).     

Within three business days after entry of the Bidding Procedures
Order, the Debtor will serve copies of the Bid Package upon the Bid
Notice Parties.

The Debtor may ask to assume and assign to the Successful Bidder
certain executory contracts and unexpired leases to be designated
by the Successful Bidder.  On Nov. 4, 2020, the Debtor proposes to
file with the Court an initial schedule of executory contracts and
unexpired leases that may be assumed and assigned as part of the
Proposed Sale.  Concurrently therewith, the Debtor will serve a
cure notice upon each counterparty to the Potential Assumed
Contracts.  The Cure Objection Deadline is (i) 4:00 p.m. (CT) on
Nov. 18, 2020; or (ii) 10 days from service of the supplemental
Cure Notice.

In light of the Milestones and the need to comply therewith, as
well as the need and desire to move swiftly towards closing of the
sale, the Debtor asks that the Court waives the 14-day stay period
under Bankruptcy Rule 6004(h).

A telephonic and video hearing on the Motion is set for Oct. 22,
2020, at 3:30 p.m.

A copy of the Bidding Procedures is available at
https://tinyurl.com/y5whxl3q from PacerMonitor.com free of charge.

                       About Eagle Pipe LLC

Eagle Pipe, LLC is a full-service distribution company supplying
tubular products and a wide variety of equipment and services to
the upstream, midstream, municipal and industrial industries.  It
distributes a full-range of OCTG, line pipe, poly pipe (HDPE),
concrete pipe, PVC pipe, valves and fittings, and offers associated
products and services.  On the Web: https://www.eaglepipe.net/

Eagle Pipe sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. S.D. Tex. Case No. 20-34879) on Oct. 5, 2020.  At the
time of the filing, the Debtor disclosed assets of between $10
million and $50 million and liabilities of the same range.

Judge Marvin Isgur oversees the case.

Gray Reed & McGraw, LLP and Glassratner Advisory & Capital Group,
LLC, serve as the Debtor's legal counsel and financial advisor,
respectively.


EAST CAROLINA COMMERCIAL: Selling 2018 Yamaha 242 Boat for $57K
---------------------------------------------------------------
East Carolina Commercial Services, LLC, asks the U.S. Bankruptcy
Court for the Eastern District of North Carolina to authorize the
sale of its 2018 Yamaha 242 boat for $57,000.

On Schedule A/B to its-petition, the Debtor listed the boat valued
at $49,000 and is shown on Schedule D to be encumbered on by a lien
in favor of First Citizens Bank in the amount of $49,000.  The boat
is used by the Debtor's principal, Cesar Mendoza.  Mr. Mendoza has
made all the payments to First Citizens.  The Debtor neither uses
the boat nor makes payments on it.

The Debtor desires to sell the boat in an arms'-length transaction
to an individual unrelated to either the Debtor or Mr. Mendoza.
The boat was marketed for sale on Facebook Marketplace.  The
contemplated sale price is $57,000.  The precise pay-off of the
loan is unknown.

Because the sale proceeds will either be in excess of liens or
because the lienholder will consent, the Motion is brought under 11
U.S.C. Section 363(f)(2) and (3).  Any proceeds remaining after the
satisfaction of the lien will be deposited into the Debtor's DIP
account and be property of the estate.

The sale is proposed in good faith and is in the best interest of
the estate.  Wherefore, the Debtor prays that the Court enters an
Order approving the sale of its boat, with proceeds applied first
to First Citizens' lien and secondly to the Debtor.

Objections, if any, must be filed within 21 days from the date of
Notice service.

              About East Carolina Commercial Services

East Carolina Commercial Services, LLC is a commercial solar
installation company specializing in module installation and
racking installation based in Wilson, N.C.

East Carolina Commercial Services sought protection under Chapter
11 of the Bankruptcy Code (Bankr. E.D.N.C. Case No. 20-02361) on
June 27, 2020.  Caesar Mendoza, Debtor's managing member, signed
the petition.  At the time of the filing, Debtor disclosed assets
of $1 million to $10 million and liabilities of the same range.  

Judge Joseph N. Callaway oversees the case.  

Sasser Law Firm is the Debtor's bankruptcy counsel.


ELGOT SALES: Royal Green Buying Sales Contracts for $55K
--------------------------------------------------------
Elgot Sales Corp. and its debtor-affiliates ask the U.S. Bankruptcy
Court for the Southern District of New York to authorize the sale
of the accounts and receivables associated with the accounts on 29
open sales orders described on Exhibit B to Royal Green Appliance
Co. for $55,000.

Elgot has entered into approximately 29 sales contracts with its
customers to deliver products, that to date have not yet been
delivered to the customers.  These contracts have been bound by
small deposits and the balance will be paid upon delivery, of which
a bulk, if not all sales will be completed by Oct. 31, 2020.  Elgot
has calculated the net profit before handling and delivery is
estimated to be $67,689.

Elgot and Royal Green have entered into a mutual agreement wherein
Royal Green will purchase the accounts and receivables associated
with those accounts on 29 open sales orders of which Elgot has
signed contracts with purchasers of appliances for an agreed sum of
$55,000.  The amount closely represents the net profit from these
sales orders, after deducting the cost of handling and delivery.

The foregoing amount of the settlement is subject to Royal Green
fulfilling these orders.  To the extent that an order may cancel
through no fault of Royal Green, the amount of the settlement may
be reduced by the lost profit of that particular order.  Royal
Green will use its best efforts to fulfill the orders and complete
the sales, and provide a detailed accounting of the lost profit
from any one of these cancelled orders.  In addition, Royal Green
has agreed to purchase Elgot's business telephone number and name
for the sum of $20,000.

Royal Green will take over handling and delivery of products and
upon the delivery of each order, it will deliver to Jeffrey
Weinstein, Esq., attorney for the Debtor, the net profits as
calculated, per each sale; funds to be held in Weinstein's attorney
escrow account on behalf of the Debtor.

Elgot and Royal Green have concluded that the Agreement is in the
best interests of the Debtors' estates and the issues involved.

A hearing on the Motion is set for Oct. 26, 2020 at 10:00 a.m.
(EST).  Objections, if any, must be filed seven days before the
hearing.

A copy of the Exhibit B is available at
https://tinyurl.com/y2zov8wl from PacerMonitor.com free of charge.

                    About Elgot Sales

Elgot Sales Corporation specializes in the design and installation
of kitchens and bathrooms, and in the sales and installation of
major kitchen appliances and air conditioning systems.

Elgot Sales and its affiliate Elgot Kitchen and Sales LLC filed
voluntary petitions for relief under Chapter 11 of the Bankruptcy
Code (Bankr. S.D.N.Y. Lead Case No. 19-13589) on Nov. 8, 2019. The
petitions were signed by Ellen Elias, co-president of Elgot Sales,
and managing member of Elgot Kitchen.

At the time of filing, Elgot Sales disclosed $185,007 in assets
and
$1,009,615 in liabilities. Elgot Kitchen disclosed assets of
between $100,000 and $500,000 and liabilities of the same range.

Jeffrey L. Weinstein, Esq., at the Law Offices of Jeffrey L.
Weinstein, is the Debtor's legal counsel.



ENERGY FISHING: U.S. Trustee Unable to Appoint Committee
--------------------------------------------------------
The Office of the U.S. Trustee on Oct. 27, 2020, disclosed in a
court filing that no official committee of unsecured creditors has
been appointed in the Chapter 11 case of Energy Fishing & Rental
Services, Inc.
  
              About Energy Fishing & Rental Services

Houston, Texas-based Energy Fishing & Rental Services, Inc.
provides fishing and downhole intervention services.  The Company
offers accumulators, adapters, backoff tools, bailers, bails, bars,
baskets, bits, blocks, blowout preventers, bushings, casing
patches, couplings, cutters, die collars, rabbits, elevators,
extensions, overshots, and accessories.  On the Web:
http://www.energyfrs.com/  

Energy Fishing & Rental Services sought protection under Chapter 11
of the Bankruptcy Code (Bankr. SD. Tex. Case No. 20-20299) on Sept.
18, 2020.  Arthur L. Potter, chairman and president, signed the
petition.  At the time of the filing, the Debtor had estimated
assets of between $1 million and $10 million and liabilities of
between $10 million and $50 million.  Judge David R. Jones oversees
the case.  Munsch Hardt Kopf & Harr, P.C. is the Debtor's legal
counsel.


ENERGY FOCUS: Has $4.3-Mil. Net Loss for Quarter Ended June 30
--------------------------------------------------------------
Energy Focus, Inc. filed its quarterly report on Form 10-Q,
disclosing a net loss of $4,340,000 on $3,335,000 of net sales for
the three months ended June 30, 2020, compared to a net loss of
$2,254,000 on $3,082,000 of net sales for the same period in 2019.

At June 30, 2020, the Company had total assets of $13,907,000,
total liabilities of $12,193,000, and $1,714,000 in total
stockholders' equity.

The Company disclosed that substantial doubt about its ability to
continue as a going concern still exists at June 30, 2020.

The Company said, "We had cash of $2.7 million at June 30, 2020,
which excludes $0.3 million restricted cash held, and a total of
$2.7 million in debt, including $1.3 million outstanding under the
Austin Credit Facility, $0.6 million relating to our Iliad Note and
$0.8 million relating to the PPP loan.  In addition we hold $4.0
million in warrant liability.  At June 30, 2020, we had $1.2
million of additional availability for us to borrow under the
Austin Credit Facility.  We have historically incurred substantial
losses, and as of June 30, 2020, we had an accumulated deficit of
$129.8 million.  Additionally, our sales have been concentrated in
a few major customers and for the six months ended June 30, 2020,
two customers accounted for approximately 54% of net sales.

"As a result of the restructuring actions and initiatives, we have
reduced our operating expenses to be more commensurate with our
sales volumes.  However, we continue to incur losses and have a
substantial accumulated deficit, and substantial doubt about our
ability to continue as a going concern continues to exist at June
30, 2020."

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

                       https://is.gd/isRlZZ

Energy Focus, Inc., together with its subsidiaries, designs,
develops, manufactures, markets, and sells energy-efficient
lighting systems in the United States and internationally. It
offers military maritime light-emitting diode (LED) lighting
products, such as Military Intellitube, globe lights, berth lights,
fixtures, and LED retrofit kits, as well as Invisitube ultra-low
EMI tubular LED (TLED) and EnFocus lighting platform to serve the
United States navy and allied foreign navies. The company also
provides commercial products comprising direct-wire ended and
double-ended TLED replacements for linear fluorescent lamps; LED
fixtures for fluorescent replacement or high-intensity discharge
replacement in low-bay, high-bay, and office applications; LED
down-lights; LED dock lights and wall-packs; LED vapor tight
lighting fixtures; LED retrofit kits; RedCap emergency battery
backup TLEDs; and EnFocus lighting platform. It sells its products
to military maritime, industrial, healthcare, education, and
commercial markets through direct sales employees, lighting agents,
independent sales representatives, and distributors. The company
was formerly known as Fiberstars, Inc. and changed its name to
Energy Focus, Inc. in May 2007.  Energy Focus was founded in 1985
and is headquartered in Solon, Ohio.


EQT CORP: S&P Hikes Issuer Credit Rating to 'BB'; Outlook Stable
----------------------------------------------------------------
S&P Global Ratings raised its issuer credit rating on U.S.-based
exploration and production (E&P) company EQT Corp. to 'BB' from
'BB-' and its issue-level rating on its unsecured debt to 'BB' from
'BB-'.

The stable outlook reflects S&P's expectation that the company will
maintain pro forma FFO to debt in the 35%-40% range for the next
two years.

EQT Corp. has announced its $735 million acquisition of Chevron
Corp.'s upstream and midstream assets located in the Appalachian
Basin.

S&P said, "We have revised our projections to reflect this
acquisition and incorporated our recently revised oil and natural
gas price assumptions and the company's updated hedges. We now
expect credit measures to strengthen over the next two years such
that funds from operations (FFO) to debt averages in the 35%-40%
range in 2021 and 2022."

"Under our revised price assumptions and pro forma for its recently
announced acquisition, we forecast EQT's credit metrics will
strengthen in 2021 and 2022.  We now project the company's FFO to
debt will be in the 35%-40% range and forecast debt to EBITDA of
about 2.5x in 2021 and 2022. The expected improvement largely
reflects our higher natural gas price assumptions but also
incorporates a boost to its free cash flow generation from the
acquired assets. We note that EQT raised about $300 million of
equity to finance this purchase and assume $200 million of
additional asset sales in the second half of 2020. Furthermore, we
forecast that the company will generate free cash flow of $400
million-$500 million annually in 2021 and 2022. We believe this
level of cash flow generation will allow it to address its debt
maturities through 2022. In addition, we believe EQT could access
the capital markets if needed given the current yields on its debt.
The risks to our forecasts include volatile commodity prices (while
about 72% of its expected natural gas production in 2021 is hedged,
we do not believe its expected 2022 production is extensively
hedged at this time), higher-than-expected capital spending, or a
more shareholder-oriented financial policy."

"We believe this acquisition will not materially affect EQT's
business risk profile.  The acquisition will modestly enhance the
company's size and scale and we view its inherent integration risks
as low given the bolt-on nature of the assets. Our view of EQT's
business risk continues to reflect its large proved reserve base
and significant acreage positions in the Appalachian basin,
moderate operating costs, and access to favorable end markets
through its firm transportation commitments. These positive credit
factors are partially offset by its concentration in Appalachia and
high exposure to natural gas in its reserve and production mix."

EQT's debt maturity profile and free cash flow generation have
significantly improved since the beginning of the year.  The
company used the proceeds from its noncore asset sales and tax
refunds, as well as operating free cash flow, to repay near-term
debt, which reduced its net debt by $800 million (excluding the
impact of $245 million of margin deposits under the credit
facility) between year-end 2019 and the end of September 2020 (its
next debt maturities include $168 million due in the second half of
2021 and $750 million due in October 2022). EQT has also
substantially reduced its general and administrative expenses and
well costs in 2020, thereby supporting its future cash flow
generation.

S&P said, "The stable outlook reflects our expectation that EQT's
credit measures will remain in line with our rating over the next
two years, including FFO to debt of 35%-40% and debt to EBITDA of
about 2.5x."

"We could lower our rating on EQT if its financial performance
weakens such that we expect its FFO to debt to decline below 30%
and remain there for a sustained period. This could occur if
natural gas prices or regional price differentials deteriorate
without a compensating reduction in its capital spending."

"An upgrade over the next year is unlikely under our current
commodity price assumptions. However, we could consider raising our
rating if EQT improves its leverage measures such that its FFO to
total debt exceeds 45% and its generates free cash flow on a
consistent basis. This would most likely be due to a revision in
our natural gas assumptions and management's continued focus on
debt reduction."


EVERGLADES ADVENTURE: Hires Consumer Law Attorneys as Counsel
-------------------------------------------------------------
Everglades Adventure Center, LLC seeks authority from the US
Bankruptcy Court for the Middle District of Florida to hire
Christopher Hixson, Esq. and Consumer Law Attorneys as its
counsel.

Services Consumer Law will render are:

     a. take all necessary action to protect and preserve the
estate of the Debtor, including the prosecution of actions on its
behalf, the defense of any actions commenced against the Debtor,
negotiations concerning any litigation in which the Debtor may be
involved, and objections, when appropriate, to claims filed against
the estate;

     b. prepare, on behalf of the Debtor, any applications,
answers, orders, reports, and/or papers in connection with the
administration of the estate;

     c. counsel the Debtor with regard to its rights and
obligations as a debtor-in-possession;

     d. prepare and file schedules of assets and liabilities;

     e. prepare and file a chapter 11 plan and corresponding
disclosure statement; and

     f. perform all other necessary legal services in connection
with this chapter 11 case.

The firm's current hourly rates range from $150 for paralegals to
$400 for attorneys.

The firm and its attorneys are disinterested and do not hold or
represent any interest adverse to the Debtor's estate, according to
court filings.

The firm can be reached through:

     Christopher Hixson, Esq.
     CONSUMER LAW ATTORNEYS
     2727 Ulmerton Rd, Ste 270
     Clearwater, FL 33762
     Phone: (877) 241-2200
     Fax: (727) 623-4611
     Email: chixson@consumerlawattorneys.com

                     About Everglades Adventure Center

Everglades Adventure Center, LLC filed its voluntary petition for
relief under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla.
20-06815) on Sep. 9, 2020, listing under $1 million in both assets
and liabilities. Christopher L Hixson, Esq. at Consumer Law
Attorneys represents the Debtor as counsel.


EVIO INC: Recurring Losses Cast Substantial Going Concern Doubt
---------------------------------------------------------------
EVIO, Inc., filed its quarterly report on Form 10-Q, disclosing a
net loss of $1,401,362 on $603,192 of total revenues for the three
months ended June 30, 2020, compared to a net loss of $1,370,535 on
$1,101,310 of total revenues for the same period in 2019.

At June 30, 2020, the Company had total assets of $6,853,141, total
liabilities of $21,548,273, and $14,695,131 in total deficit.

EVIO said, "The Company has negative working capital, recurring
losses, and does not have an established source of revenues
sufficient to cover its operating costs.  These factors raise
substantial doubt about the Company's ability to continue as a
going concern.

"The ability of the Company to continue as a going concern is
dependent upon its ability to successfully accomplish the plan and
eventually attain profitable operations.  The accompanying
financial statements do not include any adjustments that may be
necessary if the Company is unable to continue as a going concern.

"In the coming year, the Company's foreseeable cash requirements
will relate to the continual development of the operations of its
business, maintaining its good standing and making the requisite
filings with the Securities and Exchange Commission, and the
payment of expenses associated with operations and business
developments.  The Company may experience a cash shortfall and be
required to raise additional capital.

"Historically, it has mostly relied upon convertible debentures,
convertible promissory notes, internally generated funds such as
shareholder loans and advances to finance its operations and
growth.  Management may raise additional capital by retaining net
earnings or through future public or private offerings of the
Company's stock or loans from private investors, although there can
be no assurance that it will be able to obtain such financing.
Additionally, due to the onset of COVID-19 obtaining financing may
be more difficult to obtain currently compared to historic levels.
The Company's failure to do so could have a material and adverse
effect upon it and its shareholders."

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

                       https://is.gd/c9Ii9u

EVIO Inc. (OTCMKTS: EVIO) provides analytical and consulting
services for agricultural and biomedical industries. The Company
offers cannabis testing, consultation, and scientific services.
Based in Bend, Oregon, EVIO serves customers in the United
Services.


EXACTUS INC: Reports $1.7M Net Loss for Quarter Ended June 30
-------------------------------------------------------------
Exactus, Inc., filed its quarterly report on Form 10-Q, disclosing
a net loss of $1,683,694 on $531,240 of total net revenues for the
three months ended June 30, 2020, compared to a net loss of
$1,107,570 on $139,683 of total net revenues for the same period in
2019.

At June 30, 2020, the Company had total assets of $6,030,062, total
liabilities of $5,212,920, and $817,142 in total stockholders'
equity.

Exactus said, "As of June 30, 2020, our accumulated deficit was
$25,119,016.  As of June 30, 2020, we had $298,754 in cash and
working capital deficit of $3,363,901.  These factors raise
substantial doubt about the Company's ability to continue as a
going concern for a period of twelve months from the issuance date
of this report.  Management cannot provide assurance that the
Company will ultimately achieve profitable operations or become
cash flow positive, or raise additional debt and/or equity capital.
Accordingly, we will need to obtain further funding through public
or private equity offerings, debt financing, collaboration
arrangements or other sources.  The issuance of any additional
shares of Common Stock, preferred stock or convertible securities
could be substantially dilutive to our shareholders.  In addition,
adequate additional funding may not be available to us on
acceptable terms, or at all.  If we are unable to raise capital, we
will be forced to delay, reduce or eliminate our research and
development programs and may not be able to continue as a going
concern."

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

                       https://is.gd/eFYemP

Exactus, Inc. focuses on the production, marketing, and sale of
hemp-derived cannabidiol products. The Company also intends to
focuses on developing and commercializing point-of-care diagnostics
for measuring proteolytic enzymes in the blood. It is developing
FibriLyzer, a device that uses a disposable test biosensor strip
combined with a portable hand held detection unit for the
management of hyperfibrinolytic states associated with surgery and
trauma, obstetrics, acute events, and pulmonary embolism and deep
vein thrombosis, as well as for use in chronic coronary disease
management; and MatriLyzer, a device for measuring collagenase
levels in the blood. The company is based in Delray Beach, Florida.


EXTRACTION OIL: Reports $291.9M Net Loss for the June 30 Quarter
----------------------------------------------------------------
Extraction Oil & Gas, Inc., filed its quarterly report on Form
10-Q, disclosing a net loss of $291,934,000 on $63,129,000 of total
revenues for the three months ended June 30, 2020, compared to a
net income of $43,444,000 on $222,057,000 of total revenues for the
same period in 2019.

At June 30, 2020, the Company had total assets of $2,404,356,000,
total liabilities of $2,270,961,000, and $54,580,000 in total
stockholders' deficit.

Extraction Oil said, "The filing of the Chapter 11 Cases
constituted an event of default under the Company's outstanding
debt agreements, which resulted in the automatic and immediate
acceleration of all of the Company's debt outstanding under the
Credit Agreement and Senior Notes.  The Company projects that it
will not have sufficient cash on hand or available liquidity to
repay such debt.  These conditions and events raise substantial
doubt about the Company's ability to continue as a going concern.

"The Company's ability to continue as a going concern is contingent
upon, among other things, its ability to, subject to the Bankruptcy
Court's approval, implement the Restructuring Plan, successfully
emerge from the Chapter 11 Cases and generate sufficient liquidity
from the Restructuring to meet its obligations and operating needs.
As a result of risks and uncertainties related to (i) the
Company's ability to obtain requisite support for the Restructuring
Plan from various stakeholders, and (ii) the effects of disruption
from the Chapter 11 Cases making it more difficult to maintain
business, financing and operational relationships, the Company has
concluded that management's plans do not alleviate substantial
doubt regarding the Company's ability to continue as a going
concern."

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

                       https://is.gd/PPhNjl

                   About Extraction Oil & Gas

Denver-based Extraction Oil & Gas, Inc. is an independent energy
exploration and development company focused on exploring,
developing and producing crude oil, natural gas and NGLs primarily
in the Wattenberg Field in the Denver-Julesburg Basin of Colorado.
On the web: http://www.extractionog.comfor more information.    

Extraction Oil & Gas and its affiliates sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Lead Case No.
20-11548) on June 14, 2020.  At the time of the filing, Debtors
disclosed $1 billion to $10 billion in both assets and
liabilities.

Judge Christopher S. Sontchi oversees the cases.

The Debtors tapped Kirkland & Ellis, LLP, Kirkland & Ellis
International, LLP and Whireford, Taylor & Preston, LLC as legal
counsel; Alvarez & Marsal North America, LLC as restructuring
advisor; and Moelis & Company and Petrie Partners Securities, LLC
as investment banker and financial advisor.  Kurtzman Carson
Consultants, LLC is the claims and balloting agent and
administrative advisor and PricewaterhouseCoopers LLP (PwC) is
Debtors' independent audit services provider.


FETCH HOLDCO: S&P Alters Outlook to Stable, Affirms 'B-' ICR
------------------------------------------------------------
S&P Global Ratings affirmed its 'B-' issuer credit rating on
U.S.-based Fetch Holdco LLC and revised the outlook to stable from
negative.

S&P said, "We are also affirming our 'B-' issue-level rating on the
company's senior secured revolver and first-lien term loan. The
recovery rating remains '3', indicating our expectation of 50%-70%
(rounded estimate: 50%) recovery in the event of a default."

"The stable outlook reflects our expectation that favorable pet
ownership trends will lead to sustained higher levels of
consumption of many of Fetch's products, resulting in leverage
improving to the low-8x area."

U.S.-based Fetch Holdco LLC, parent of pet products provider
Petmate, is benefiting from increased pet ownership amidst the
COVID-19 pandemic.

As a result, S&P Global Ratings has revised its forecasts and
expects solid sales and profit growth in 2021 that should lead to
significant credit metric improvement, including leverage
approaching 8x and EBITDA cash interest coverage exceeding 2x.

S&P said, "We expect strong sales and profit growth driven by
increased pet adoption will lead to strengthened, albeit still
weak, credit metrics in 2021. We estimate leverage will improve to
the low-8x area in fiscal 2021 from the low-9x area at fiscal
year-end June 27, 2020. Pet adoption increased meaningfully after
the virus outbreak and implementation of shelter-in-place orders.
While we believe there may have been a one-time spike in purchases
of some of Fetch's hard goods (such as kennels), we expect ongoing
consumption of the company's soft goods and consumables portfolio
that will remain above historical levels because of increased pet
ownership. Among its consumables portfolio is Pet Qwerks toys and
chews, which Fetch recently acquired for $18 million (partially
funded with a $10 million incremental term loan). We believe Fetch
will leverage its retail relationships to significantly expand
distribution of this product line. In addition to the significant
improvement in leverage, we expect the company will generate annual
free cash flow around or above $10 million and maintain EBITDA cash
interest coverage comfortably above 2x."

"We assume the company will not suffer from supply chain
disruptions or commodity inflation. Fetch performed below
expectations in prior years due to mismanagement of warehousing and
distribution processes and difficulties managing rising input
costs. The company had insufficient warehousing space and struggled
to transition to a new warehouse management system. These
challenges resulted in missed orders and incremental shipping
expenses. However, the company moved into a new fulfillment center
with sufficient warehousing space in 2019, which we believe has
addressed some issues. Further, the company has operated through
the pandemic without major disruptions and we assume there will be
no significant distribution challenges going forward."

The company is particularly sensitive to swings in resin prices,
and spikes in resin costs and tariffs on some products sourced from
China temporarily hurt profits in recent years. Management was
subsequently able to implement price increases on key products with
most customers, though S&P views additional unexpected spikes in
resin costs as a risk. The company is able to mitigate resin price
volatility with its own recycled resin processing plant, but
exposure is still significant.

S&P said, "We view e-commerce capabilities as critical to the
long-term viability of industry competitors. Fetch has leveraged
its established e-commerce position and benefited from an
accelerated consumer shift to online purchasing caused by the
pandemic. Fetch's e-commerce sales grew 33% in the fourth quarter
ended June 27, 2020, and now represents 25% of total sales. This
compares to about 4% total sales growth for the quarter. While the
disparity may have been amplified by retail closures during the
pandemic, we expect e-commerce purchases will continue to outpace
brick-and-mortar sales over the next couple of years. Fetch's
established relationships with the major online retailers have been
core to its recent performance and we expect they will be crucial
to its long-term growth strategies. However, the company is also
vulnerable to the fast-changing environment and will likely face
more intense competition in the channel from smaller players, given
it is easier for upstart brands to reach consumers online."

"The stable outlook reflects our expectation that sales growth will
moderate in the coming quarters but remain steady, driven by
increased pet adoption. We expect strengthening profitability will
result in leverage improving to the low-8x area over the next
year."

"We could lower our ratings if free cash flow deteriorates
substantially and EBITDA cash interest coverage approaches 1x. This
could occur if the company cannot manage greater than expected
input cost volatility; if it loses important relationships with
e-commerce customers; if it experiences unexpected supply chain
disruptions; or if a protracted recession causes consumers to defer
purchases of some of the company's discretionary products."

"While unlikely in the near term, we could raise our ratings if
Fetch expands its scale, improves product diversity, and increases
profitability while maintaining leverage below 7x and generating
annual free cash flow of at least $20 million."



FL SUNSHINE: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: FL Sunshine Services of Tampa, LLC
        7832 Sunset Blvd.
        Port Richey, FL 34668

Chapter 11 Petition Date: October 30, 2020

Court: United States Bankruptcy Court
       Middle District of Florida

Case No.: 20-08148

Debtor's Counsel: Alberto ("Al") F. Gomez, Jr., Esq.
                  JOHNSON, POPE, BOKOR, RUPPELL & BURNS, LLP
                  401 East Jackson Street #3100
                  Tampa, FL 33602
                  Tel: 813-225-2500
                  Fax: 813-223-7118
                  Email: al@jpfirm.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Dan K. Wilson, manager.

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/2JVXX7A/FL_Sunshine_Services_of_Tampa__flmbke-20-08148__0001.0.pdf?mcid=tGE4TAMA


FLUSHING LANDMARK: Case Summary & 8 Unsecured Creditors
-------------------------------------------------------
Debtor: Flushing Landmark Realty LLC
        133-38 Sanford Avenue, Penthouse B
        Flushing, NY 11355

Business Description: Flushing Landmark Realty LLC is primarily
                      engaged in renting and leasing real estate
                      properties.  The Company is the owner of
                      fee simple title to a commercial
                      building located at 41-60 Main Street,
                      Flushing, New York.

Chapter 11 Petition Date: October 30, 2020

Court: United States Bankruptcy Court
       Eastern District of New York

Case No.: 20-73302

Judge: Hon. Robert E. Grossman

Debtor's Counsel: Fred S. Kantrow, Esq.
                  ROSEN & KANTROW, PLLC
                  38 New St
                  Huntington, NY 11743-3327
                  Tel: 631-423-8527
                  Fax: 631-423-4536
                  Email: fkantrow@rkdlawfirm.com

Total Assets: $353,831

Total Liabilities: $97,476,811

The petition was signed by Myint J. Kyaw, principal.

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

https://www.pacermonitor.com/view/RKXWN7A/Flushing_Landmark_Realty_LLC__nyebke-20-73302__0001.0.pdf?mcid=tGE4TAMA


FRONTLINE TECHNOLOGY: Case Summary & 15 Unsecured Creditors
-----------------------------------------------------------
Debtor: Frontline Technology Solutions LLC
           DBA TravelTab
           DBA Travel-Tab
           DBA Travel Table
         1180 Solana Avenue
         Winter Park, FL 32789

Business Description: Founded in 2012, TraveTab (Frontline
                      Technology Solutions) --
                      http://traveltab.com-- is a mobile
                      technology-focused company providing robust
                      products for the travel industry.
                      Headquartered in Winter Park, FL, TravelTab
                      has successfully partnered with world-
                      renowned brands including Advantage,
                      Avis/Budget, Dollar/Thrifty, Enterprise
                      Holdings, Inc., Hertz, and others to offer
                      products, technology and service solutions
                      focused on making travel easier.

Chapter 11 Petition Date: October 30, 2020

Court: United States Bankruptcy Court
       Middle District of Florida

Case No.: 20-06077

Debtor's Counsel: Kathleen L. DiSanto, Esq.
                  BUSH ROSSS, P.A.
                  PO Box 3913
                  Tampa, FL 33601-3913
                  Tel: 813-224-9255
                  Email: kdisanto@bushross.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Al LaLonde, chief financial officer.

A copy of the Debtor's list of 15 unsecured creditors is available
for free at PacerMonitor.com at:

https://www.pacermonitor.com/view/CJ2YNUA/Frontline_Technology_Solutions__flmbke-20-06077__0002.0.pdf?mcid=tGE4TAMA

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

https://www.pacermonitor.com/view/CPKWSOY/Frontline_Technology_Solutions__flmbke-20-06077__0001.0.pdf?mcid=tGE4TAMA


GAUCHO GROUP: Holders OK Amendment to Certificate of Designation
----------------------------------------------------------------
Holders of a majority of the issued and outstanding shares of
Series B Convertible Preferred Stock of Gaucho Group Holdings, Inc.
approved an amendment to the Certificate of Designation of the
Series B Convertible Preferred Stock which allows for dividends to
be paid in either cash or shares of common stock.  On Oct. 23,
2020, the Board approved such Amendment and declared a total of
$1,626,306.29 in dividends (relating to the nine consecutive
calendar quarters with the first being June 30, 2018 and the last
being June 30, 2020), payable in common stock at a rate equivalent
to the average closing price of the common stock on the seven
trading days preceding Oct. 23, 2020.

The Amendment was filed with the Secretary of State of the State of
Delaware on Oct. 27, 2020.

On Oct. 18, 2020, stockholders holding a majority of the issued and
outstanding Series B Shares approved the Amendment by written
consent pursuant to the Company's bylaws and the Delaware General
Corporation Law.

                          About Gaucho Group

Headquartered in New York, NY, Gaucho Group Holdings, Inc. --
http://www.algodongroup.com-- was incorporated on April 5, 1999.  
Effective Oct. 1, 2018, the Company changed its name from Algodon
Wines & Luxury Development, Inc. to Algodon Group, Inc., and
effective March 11, 2019, the Company changed its name from Algodon
Group, Inc. to Gaucho Group Holdings, Inc.  Through its
wholly-owned subsidiaries, GGH invests in, develops and operates
real estate projects in Argentina.  GGH operates a hotel, golf and
tennis resort, vineyard and producing winery in addition to
developing residential lots located near the resort.  In 2016, GGH
formed a new subsidiary and in 2018, established an e-commerce
platform for the manufacture and sale of high-end fashion and
accessories.  The activities in Argentina are conducted through its
operating entities: InvestProperty Group, LLC, Algodon Global
Properties, LLC, The Algodon - Recoleta S.R.L, Algodon Properties
II S.R.L., and Algodon Wine Estates S.R.L. Algodon distributes its
wines in Europe through its United Kingdom entity, Algodon Europe,
LTD.

Gaucho Group reported a net loss attributable to common
stockholders of $7.38 million for the year ended Dec. 31, 2019,
compared to a net loss attributable to common stockholders of $6.40
million for the year ended Dec. 31, 2018.  As of March 31, 2020,
the Company had $5.98 million in total liabilities, $7.05 million
in total liabilities, $9.02 million in series B convertible
redeemable preferred stock, and a total stockholders' deficiency of
$10.09 million. As of June 30, 2020, the Company had $5.62 million
in total assets, $7.82 million in total liabilities, $9.01 million
in series B convertible redeemable preferred stock, and a total
stockholders' deficiency of $11.20 million.

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


GOODRX INC: Moody's Hikes CFR to B1, Outlook Stable
---------------------------------------------------
Moody's Investors Service, upgraded GoodRx, Inc.'s Corporate Family
Rating (CFR) to B1 from B2 and its Probability of Default Rating
(PDR) to B1-PD from B2-PD. Concurrently, Moody's upgraded the
rating on GoodRx's senior secured first lien bank credit facilities
to B1 from B2, and assigned an SGL-1 Speculative Grade Liquidity
rating. The outlook remains stable.

"The rating upgrade reflects strong organic growth in GoodRx's
profit and cash flows resulting in reduction of Moody's adjusted
leverage to approximately 4.0x as of June 30, 2020 (down from 7.7
times, roughly two years ago), a trend Moody's expects to continue
over the next 12-18 months," said Vladimir Ronin, Moody's lead
analyst for the company. "The upgrade also reflects a substantial
increase in the company's cash balance by approximately $1 billion
from recent IPO proceeds, which significantly enhances GoodRx's
financial flexibility, although the use of proceeds remains
unclear," added Ronin.

The assignment of the SGL-1 Speculative Grade Liquidity Rating
reflects Moody's expectation that GoodRx's liquidity will remain
very good over the next 12 to 18 months. GoodRx's liquidity will be
supported by free cash flow in excess of $100 million over the next
year, a strong cash balance of approximately $1.2 billion pro forma
for the IPO proceeds and access to a $100 million revolving credit
facility expiring in 2024.

The following actions were taken:

Upgrades:

Issuer: GoodRx, Inc.

Corporate Family Rating, Upgraded to B1 from B2

Probability of Default Rating, Upgraded to B1-PD from B2-PD

Senior Secured First Lien Revolving Credit Facility due 2024,
Upgraded to B1 (LGD3) from B2 (LGD3)

Senior Secured First Lien Term Loan due 2025, Upgraded to B1 (LGD3)
from B2 (LGD3)

Assignments:

Issuer: GoodRx, Inc.

Speculative Grade Liquidity Rating, Assigned SGL-1

Outlook Actions:

Issuer: GoodRx, Inc.

Outlook, Remains Stable

RATINGS RATIONALE

GoodRx's B1 Corporate Family Rating broadly reflects the company's
moderate financial leverage of 4.0 times (with Moody's standard
adjustments), as of June 30, 2020. The company's rating is also
supported by its relatively predictable and protected revenue
streams which translate to good earnings growth and very good
profitability. A highly variable cost structure provides
flexibility to reduce spending in the face of unexpected
challenges. GoodRx's services align with consumer interest in
reducing the cost of prescription drugs, which is a positive social
consideration for the rating. The rating also reflects GoodRx's
strong free cash flow generation along with a material cash balance
from the proceeds of the IPO, which significantly enhances GoodRx's
financial flexibility.

Conversely, GoodRx's rating is constrained by high operating risks
related to its small albeit growing revenue base, concentrated
reliance on a small number of pharmacy benefit managers (PBMs) for
most of its revenue, and ongoing industry-wide regulatory and
competitive risks. PBMs face rising scrutiny related to their role
in high drug costs for consumers, and US regulators are considering
various proposals that could alter PBM business practices. While
Moody's expects that as a publicly traded company with a stronger
balance sheet, GoodRx will maintain more moderate financial
leverage, significant ownership interest in the company by a
consortium of private equity investors and the founders will result
in meaningful governance risk. Adding to governance risk is the
company's disclosure in its S-1 filing of material weakness in
GoodRx's internal financial controls over financial reporting,
which resulted in adjustments to several line items of the
company's audits, including revenue recognition and sales
allowances. While remediation of these weaknesses is ongoing, the
timing of resolution of these issues is uncertain.

The stable outlook reflects Moody's expectation that GoodRx's
strong volume trends and earnings growth will remain tempered by
high operating risks as well as the execution risks associated with
rapid growth.

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

The ratings could be upgraded if GoodRx establishes a longer track
record and effectively manages its high growth while maintaining
strong profitability levels and conservative financial policies.
Quantitatively, debt/EBITDA sustained below 4.0x could support an
upgrade. The company would also need to show progress in
remediating material weaknesses in internal financial controls over
financial reporting highlighted in its S-1 filing.

Ratings could be downgraded if the company experiences unexpected
changes in the regulatory environment or push-back from customers
or retailers, resulting in declining earnings. A more aggressive
financial policy including debt-financed acquisitions could also
support a downgrade. Quantitatively, debt/EBITDA sustained above
5.0x could lead to a downgrade.

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

Headquartered in Santa Monica, California, GoodRx, Inc. owns and
operates a prescription drug price comparison platform. The
platform uses pricing data from PBMs to compare prices at local and
mail-order pharmacies. GoodRx completed initial public offering in
September 2020, however a consortium of private equity investors
(with Silver Lake Partners being the company's largest shareholder
with a 35% minority stake), and the founders currently retain a
significant ownership interest in the company. The company
generated approximately $472 million of revenue in the last twelve
months ended June 30, 2020.


GTT COMMUNICATIONS: Inks Forbearance Pacts w/ Noteholders & Lenders
-------------------------------------------------------------------
As previously disclosed, the filing by GTT Communications, Inc. of
its Quarterly Report on Form 10-Q for the fiscal quarter ended June
30, 2020 has been delayed.  The failure of the Company to file the
Late SEC Report on or before Nov. 1, 2020 would constitute an event
of default under that certain Indenture, dated as of Dec. 22, 2016,
by and between the Company, as successor by merger to GTT Escrow
Corporation, and Wilmington Trust, National Association, as
Trustee.

If an event of default under the Indenture relating to the Late SEC
Report occurs, then the Trustee or the holders of not less than 25%
in aggregate principal amount of the Company's outstanding 7.875%
Senior Notes due 2024 may declare all unpaid principal of, premium,
if any, and accrued interest on, all Notes to be due and payable
immediately by providing a notice of acceleration.  In the event
the Company receives a Notice of Acceleration, the holders of a
majority in aggregate principal amount of the Notes may rescind and
annul any declaration of acceleration and its consequences if
certain conditions specified in the Indenture are satisfied,
including the waiver by holders of a majority in aggregate
principal amount of the Notes of, or cure of, the events of default
that are the basis for the Notice of Acceleration.

In addition, as previously disclosed, the Company's failure to
deliver its consolidated financial statements for the fiscal
quarter ended June 30, 2020 on or before Oct. 30, 2020 would
constitute an event of default under that certain Credit Agreement,
dated as of May 31, 2018 by and among the Company and GTT
Communications, B.V., as borrowers (the "Borrowers"), KeyBank
National Association, as administrative agent and letter of credit
issuer (the "Agent"), and the lenders (the "Lenders") and other
financial institutions party thereto from time to time.  Upon an
event of default under the Credit Agreement which is not cured or
waived, the Credit Agreement permits, among other remedies, the
Agent (in its own discretion or upon written request by Lenders
holding a majority of the outstanding loans and revolving
commitments under the Credit Agreement) to declare all principal,
interest and other obligations thereunder immediately due and
payable.

                       Notes Forbearance Agreement

On Oct. 28, 2020, the Company and the guarantors under the
Indenture entered into a Forbearance Agreement with certain
beneficial owners (or nominees, investment managers, advisors or
subadvisors for the beneficial owners) of a majority of the
outstanding aggregate principal amount of Notes.  Pursuant to the
Notes Forbearance Agreement, the Forbearing Noteholders have agreed
to, among other things, forbear from exercising any and all rights
and remedies under the Indenture, the Notes and applicable law,
including not directing the Trustee to take any such action, with
respect to defaults and events of default that have occurred, or
that may occur as a result of, (i) the Company's failure to timely
file the Late SEC Report and the Quarterly Report on Form 10-Q for
the fiscal quarter ended Sept. 30, 2020 and (ii) the occurrence and
continuance of the "Lender Specified Defaults" as defined in the
Credit Facilities Forbearance Agreement.

In addition, in the event that the Trustee or any Noteholder or
group of Noteholders takes any action to declare all of the Notes
immediately due and payable, the Forbearing Noteholders agree to
deliver written notice to the Trustee to rescind and annul such
acceleration and its consequences and to provide the necessary
consents to amend the Indenture to provide that the Indenture shall
not require cure or waiver of any events of default that are
specified defaults in the Notes Forbearance Agreement in connection
with rescinding and annulling such acceleration and its
consequences.

The Notes Forbearance Agreement requires that the Company enter
into the Fourth Supplemental Indenture.  The Notes Forbearance
Agreement also requires the Company to provide certain advisors to
the Forbearing Noteholders with 13-week cash flow forecasts and
variance reports on a weekly basis and to host conference calls
every other week with such advisors to discuss cash flows,
operations, the status of the pending infrastructure sale
transaction announced by the Company on Oct. 16, 2020 and other
information reasonably requested by such advisors.

The forbearance period under the Notes Forbearance Agreement ends
on the earlier of 5:00 p.m., New York City time, on Nov. 30, 2020
and the receipt of notice regarding intent to terminate the Notes
Forbearance Agreement from Forbearing Noteholders upon the
occurrence of any of the specified forbearance defaults described
therein.  The forbearance defaults include, without limitation, (i)
the termination of the purchase agreement related to the
Transaction; (ii) the occurrence of any defaults or events of
default under the Indenture other than any of the specified
defaults in the Notes Forbearance Agreement, (ii) amendments to the
Credit Agreement that require the payment of additional interest
and/or compensation to the Lenders or amendments to the prepayment
provisions of the Credit Agreement that are adverse to the
Forbearing Noteholders; (iii) the Company or its subsidiaries (A)
incurring indebtedness for borrowed money or providing certain
guarantees of indebtedness, (B) causing certain subsidiaries that
are not credit parties under the Credit Agreement to become credit
parties or causing certain subsidiaries to provide credit support
for certain obligations under the Credit Agreement, (C)
transferring assets or equity interests of the Company or the
guarantors under the Indenture to a subsidiary that does not become
a guarantor, outside of the ordinary course of business or (D)
granting certain liens; (iv) subject to certain exceptions,
converting the loans under the Credit Agreement to base rate loans;
(v) breaches of the Notes Forbearance Agreement by the Company; or
(vi) the end of the forbearance period under the Credit Facilities
Forbearance Agreement.

In connection with the entry into the Notes Forbearance Agreement,
the Company is paying certain fees of the advisors to the
Forbearing Noteholders and is paying each Forbearing Noteholder a
fee equal to $1.67 per $1,000 principal amount of Notes held by
such Forbearing Noteholder.  The Company also agreed to pay the
Notes Forbearance Fee to any other holder of Notes who executes and
delivers the Notes Forbearance Agreement on or prior to Nov. 11,
2020 (except with respect to Notes transferred by a Forbearing
Noteholder).

                Credit Facilities Forbearance Agreement

On Oct. 28, 2020, the Borrowers and certain of the guarantors of
the obligations under the Credit Agreement entered into a
Forbearance Agreement with (i) certain Lenders party to the Credit
Agreement holding (A) a majority of the outstanding loans and
revolving commitments under the Credit Agreement and (B) a majority
of the revolving commitments under the Credit Agreement and (ii)
the Agent. Pursuant to the Credit Facilities Forbearance Agreement,
the Forbearing Lenders have agreed to, among other things, forbear
from exercising any and all rights and remedies under the Loan
Documents (as defined in the Credit Agreement) and applicable law,
including not directing the Agent to take any such action, with
respect to defaults and events of default that have occurred, or
that may occur as a result of, (x) the Company's failure to timely
file the Late SEC Report and the Q3 SEC Report, (y) any amendment,
supplement, modification, restatement and/or withdrawal or public
statement of non-reliance on (1) any audit opinion related to
historical consolidated financial statements or (2) historical
consolidated financial statements and (z) the occurrence and
continuance of the "Noteholder Specified Defaults" as defined in
the Notes Forbearance Agreement.

The Credit Facilities Forbearance Agreement requires the Borrowers
to provide Lenders who have agreed to receive material non-public
information with 13-week cash flow forecasts and variance reports
on a weekly basis and to host conference calls every other week
with such Lenders to discuss cash flows, operations, the status of
the Transaction and other information reasonably requested by such
Lenders.  In addition, the Credit Facilities Forbearance Agreement
prohibits the Company from borrowing revolving loans and/or
requesting the issuance of letters of credit if the aggregate
amount of all outstanding revolving loans and/or issued and
outstanding letters of credit would exceed 30% of the revolving
commitments in effect as of the forbearance effective date
(excluding all letters of credit that are issued and outstanding as
of the forbearance effective date and letters of credit that are
cash collateralized or backstopped), without the consent of each
revolving lender.  The Credit Facilities Forbearance Agreement
further provides that the revolving commitments will be
automatically and permanently reduced to equal the Revolving
Commitment Cap upon the earlier to occur of the end of the
forbearance period (after giving effect to all extensions thereof)
and the entry by the Company into any transaction pursuant to which
the liens on the U.S. collateral securing the U.S. obligations
under the Credit Agreement are subordinated in right of priority to
liens on the U.S. collateral securing any other debt or the U.S.
obligations under the Credit Agreement are subordinated in right of
payment to the prior payment in full of any other debt.

The forbearance period under the Credit Facilities Forbearance
Agreement ends on the earlier of the Expiration Time and the
receipt of notice regarding intent to terminate the Credit
Facilities Forbearance Agreement from Forbearing Lenders upon the
occurrence of any of the specified forbearance defaults.  The
forbearance defaults include, without limitation, (i) the
termination of the purchase agreement related to the Transaction;
(ii) the occurrence of any event of default under the Credit
Agreement other than any of the specified defaults in the Credit
Facilities Forbearance Agreement; (iii) amendments to the Indenture
or the Notes that require the payment of additional interest and/or
compensation to the Noteholders or amendments to prepayment
provisions of the Indenture or Notes that are adverse to the
Forbearing Lenders; (iv) the Company or its subsidiaries (A)
incurring indebtedness for borrowed money or providing certain
guarantees of indebtedness, (B) transferring assets or equity
interests of credit parties under the Credit Agreement to
non-credit parties, outside of the ordinary course of business or
(C) granting liens to secure the Notes; (v) breaches of the Credit
Facilities Forbearance Agreement by the Company; (vi) non-pro rata
purchases of loans funded with the proceeds of indebtedness issued
by the Company or any other credit party under the Credit
Agreement; or (vii) the end of the forbearance period under the
Notes Forbearance Agreement.
In connection with the entry into the Credit Facilities Forbearance
Agreement, the Company is paying certain fees of the advisors to
the Forbearing Lenders and is paying each Forbearing Lender a fee
equal to 0.167% of the sum of such Forbearing Lender's revolving
commitment and outstanding term loans.

                         Supplemental Indenture
On Oct. 28, 2020, the Company entered into a Fourth Supplemental
Indenture to the Indenture, by and among the Company, the
guarantors under the Indenture and the Trustee.  The Fourth
Supplemental Indenture amends the events of default provision in
Section 6.01 of the Indenture to preclude the Company from curing
an event of default for the failure to comply with the time periods
prescribed in the reporting covenant in Section 4.15 of the
Indenture with regard to the Late SEC Report by filing the Late SEC
Report with the Securities and Exchange Commission.
Notwithstanding the Q2 Financial Reporting Amendment, holders of a
majority in aggregate principal amount of the Notes would have the
ability to waive an event of default for the failure to comply with
the time periods prescribed in Section 4.15 of the Indenture with
regard to the Late SEC Report.

                       Indemnification Agreements

On Oct. 27, 2020, the Board of Directors of the Company approved
the entry into indemnification agreements with each director
serving on the Company's board of directors and each current
executive officer of the Company.  Under the Indemnification
Agreement, the Company agrees to indemnify each director and
executive officer against any and all expenses to the fullest
extent permitted by the laws of the State of Delaware, if the
director/executive officer was, is, becomes or is threatened to be
made a party to or witness or other participant in a claim or
proceeding by reason of or arising in part out of the
director's/executive officer's service as a current or former
director, officer, employee, partner, member, manager, trustee,
fiduciary or agent of the Company or any of its subsidiaries.  The
Indemnification Agreement also provides for, among other things,
the advancement of expenses reasonably incurred by the
director/executive officer prior to final disposition of any claim
or proceeding that relates to the Company indemnification
obligations, subject to reimbursement in the event such
director/executive officer is ultimately determined not to be
entitled to indemnification under the terms of the Indemnification
Agreement and applicable Delaware law, and the maintenance by the
Company of director and officers' liability insurance covering the
director/executive officer.  In addition, the Indemnification
Agreement provides procedures for the determination of the
director's/executive officer's right to receive indemnification.
Under the Indemnification Agreement, the director/executive officer
will be eligible for indemnification during the period of his or
her service as a director, officer, employee, partner, member,
manager, trustee, fiduciary or agent until the later of (i) ten
years thereafter, (ii) the expiration of the statute of limitations
applicable to any claim that could be asserted against the
director/executive officer to which such director/executive officer
may be entitled to indemnification and/or an expense advance under
the Indemnification Agreement and (iii) one year after the final
determination of any proceeding against the director/executive
officer in respect of which such director/executive officer is
granted rights of indemnification or the right to an expense
advance under the Indemnification Agreement.

                        Form 10-Q Filing Delay

The Company does not expect to be able to file the Late SEC Report
or the Q3 SEC Report by the applicable deadlines under the
Indenture and Credit Agreement or by the Expiration Time under the
Forbearance Agreements, as a result of the Company's previously
disclosed review of certain issues related to the recording and
reporting of Cost of Telecommunications Services, certain
intercompany transactions and related internal controls, which is
continuing.  The Company is unable to predict specific filing dates
for the Late SEC Report and Q3 SEC Report at this time.
In addition to the Forbearance Agreements, the Company is engaging
in negotiations and discussions with the Noteholders and Lenders,
including to seek the consent of (a) Noteholders of at least a
majority of the outstanding aggregate principal amount of the
Notes, to amend and/or waive certain provisions of the Indenture or
provide further forbearances from exercising remedies in respect
thereof and (b) Lenders holding at least (1) a majority of the
outstanding loans and revolving commitments under the Credit
Agreement and (2) a majority of the revolving commitments under the
Credit Agreement, to amend and/or waive certain provisions of the
Credit Agreement or provide further forbearances from exercising
remedies in respect thereof.  There can be no assurance, however,
that the Company will be able to negotiate acceptable terms or
reach any further agreements with the Noteholders and Lenders.

                            About GTT

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

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

                          *    *    *

As reported by the TCR on Sept. 22, 2020, S&P Global Ratings
retained all ratings on U.S.-based internet protocol (IP) network
operator GTT Communications Inc. (GTT), including the 'CCC+' issuer
credit rating, on CreditWatch with negative implications.

Also in September, 2020, Fitch Ratings downgraded the Long-term
Issuer Default Rating (IDR) of GTT Communications, Inc. (GTT) and
GTT Communications BV to 'CCC' from 'B-'.  The rating action
follows the company's announcement that it received a notice of
default on Sept. 2, 2020 from holders representing 25% or more of
outstanding principal ($575 million) of the company's senior
unsecured notes, due to its noncompliance with a reporting covenant
under the notes indenture that required the company to file 2Q20
financials within the stated time frame (allowing for extensions).


GULFSLOPE ENERGY: Provides Update on Corporate Activities
---------------------------------------------------------
GulfSlope Energy, Inc., provided an update on recent corporate
activities and operational outlook for 2021.

Corporate Update - Response to COVID-19 Pandemic

Global crude oil demand destruction caused by COVID-19 pandemic,
together with increased oil production from OPEC and Russia,
contributed to a dramatic decrease in the price of oil.
Consequently, GulfSlope's management and Board have taken multiple
proactive steps during 2020 to preserve liquidity and reduce debt
as follows:

   * Settled the insurance claim related to its Tau prospect and in
     accordance with this settlement, GulfSlope
     received approximately $6.6 million.

   * Secured agreements which resulted in an overall reduction of
     approximately $1.1 million in liabilities.

   * Paid off third-party debt and interest expense of
approximately
     $3.0 million with the expectation that virtually all third-
     party debt will be retired by the end of 2020.

   * Initiated filing of loan forgiveness application related to
     $100,300 loan received from the Paycheck Protection Program.

   * Accumulated net operating losses of approximately $50 million
     to offset potential future taxable income.

Operations Update

GulfSlope's Exploration Plan related to the re-drilling of the
Company's Tau prospect was approved by the Bureau of Ocean Energy
Management on July 16, 2020.  The Bureau of Safety and
Environmental Enforcement has completed its initial review of the
Company's "Application for Permit to Drill" and GulfSlope
anticipates receiving final approval once a definitive spud date
has been established.  The leases associated with the Tau prospect
expire in 2022 and 2025 which provides the Company sufficient time
to re-drill the Tau prospect.

Tau is a subsalt Miocene prospect located in the Ship Shoal Area,
South Addition Blocks 336/351 in approximately 305 feet of water.
The Tau No. 2 well is designed to be drilled to 20,000 feet true
vertical distance (21,543 feet measured distance) to test multiple
intervals that correlate to productive zones in the nearby Mahogany
Field, located approximately five miles to the southwest.
GulfSlope is the operator with a 25 percent working interest and
Delek GOM Investments LLC, a subsidiary of Delek Group Ltd., owns a
75 percent working interest.

GulfSlope is aggressively pursuing new opportunities to accelerate
its business plan which include securing additional drilling
partners and the acquisition of producing oil and gas assets.
GulfSlope is evaluating multiple acquisition opportunities and the
Company believes that a successful acquisition program will
complement its legacy exploration program.

"In response to this extraordinarily difficult business
environment, we have taken multiple proactive steps at GulfSlope to
strengthen the Company and be in a position for success in 2021.
We have a relatively clean balance sheet to utilize in the
execution of our business strategy," stated John Seitz, Chairman
and CEO of GulfSlope.  "As the world economy returns to a more
normal demand for hydrocarbons, we are excited about our prospects
for 2021 and we continue to believe there is a significant
opportunity for our Company."

GulfSlope has received notification from the OTC Markets Group that
the Company's closing bid price no longer meets the Standards for
Continued Eligibility for OTCQB.  GulfSlope has until Nov. 23,
2020, to cure the bid price deficiency.  In the event that
GulfSlope is unable to cure this deficiency, then the Company
anticipates it's stock would be subsequently quoted on the OTC Pink
Open Market.

                         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.


HAWAII MOTORSPORTS: Plan Set Aside; Seeks Chapter 7
---------------------------------------------------
HAWAII MOTORSPORTS, LLC sought and obtained an order to (1) vacate
the Pre-Confirmation Schedule set out in the Court’s order of
September 10, 2020 and (2) waive notice of this Motion.

On September 10, 2020, the Court entered an order fixing various
deadlines pending the confirmation hearing in this case. First, the
Court ordered that on or before September 25, 2020, the Debtor
shall file an amended disclosure statement (ECF No. 192). This was
done (ECF No. 200).  The Court further ordered that the amended
disclosure statement, proposed chapter 11 plan, and the ballot be
served on or before September 25, 2020. This was also done. (ECF
No. 201).   

The Court set Oct. 9, 2020 as the last day for filing and serving
written objections to the Debtor's proposed plan and October 16,
2020 as the last day for Debtor to file its responses to the plan
objections.  In addition, the Court directed the parties to proceed
with the mediation on Oct. 19, 2020.  The mediator, Mick Taleff,
has directed the parties to submit their mediation statements at
least 5 days before the mediation, i.e., on or before October 14,
2020.  

On Friday, October 2, 2020, the Debtor moved the Court to convert
this case to one under chapter 7.  The Motion to Convert included a
Notice to Respond and Request a Hearing giving the parties until
October 16, 2020 to respond.  The Motion to Convert, if granted,
will eliminate the need for creditors to file objections to the
plan or for the Debtor to file a response to such objections.
Moreover, if the Motion to Convert is granted, the mediation will
be cancelled.  The instant motion seeks to vacate these deadlines
in order to avoid unnecessary costs and expense to comply with the
deadlines in the event the Debtor's motion to convert the case to
one under chapter 7 is granted.


                    About Hawaii Motorsports

Hawaii Motorsports LLC is a motorcycle dealer in Kahului, Hawaii.

Hawaii Motorsports LLC, based in Kahului, HI, filed a Chapter 11
petition (Bankr. D. Mont. Case No. 20-10006) on Jan. 22, 2020.  In
the petition signed by Barry Usher, manager, the Debtor was
estimated to have $500,000 to $1 million in assets and $1 million
to $10 million in liabilities.  The Hon. Benjamin P. Hursh is the
presiding judge.  James A. Patten, Esq., at Patten Peterman
Bekkedahl & Green, PLLC, serves as bankruptcy counsel to the
Debtor.


HENRY FORD VILLAGE: Files for Bankruptcy Protection
---------------------------------------------------
Martin Z. Braun of Bloomberg News reports that Michigan senior
living facility, Henry Ford Village, files bankruptcy due to
coronavirus.

The Henry Ford Village, a continuing care retirement community in
Dearborn, Michigan that suffered at least 26 deaths because of the
Covid-19 pandemic, has filed bankruptcy.

The non-profit, which has about $50 million outstanding municipal
bond debt, reported assets of $50 million to $100 million and
liabilities of $100 million to $500 million, according to a filing
in the U.S. Bankruptcy Court for the Eastern District of Michigan.


On Oct. 22, the 1,038-bed facility was ordered to pay $800,000, or
20% of its available cash, within seven days to settle a class
action lawsuit.

                    About Henry Ford Village

Henry Ford Village, Inc. -- https://henryfordvillage.com/ -- is a
not for profit, non-stock corporation established to operate a
continuing care retirement community located at 15101 Ford Road,
Dearborn, Michigan. The Debtor provides senior living services
comprised of 853 independent living units, 96 assisted living
unites and 89 skilled nursing beds.

Henry Ford Village, Inc., sought Chapter 11 protection (Bankr. E.D.
Mich. Case No.
20-51066) on Oct. 28, 2020.

In the petition signed by CRO Chad Shandler, Henry Ford Village was
estimated to have $50 million to $100 million in assets and $100
million to $500 million in liabilities.

The Hon. Mark A. Randon is the case judge.

DYKEMA GOSSETT PLLC, led by Sheryl Toby, is the Debtor's counsel.
FTI CONSULTING, INC., is the financial advisor.  KURTZMAN CARSON
CONSULTANTS, LLC, is the claims agent.


HERTZ GLOBAL: Wins Court Approval for $1.65 Billion Loan
--------------------------------------------------------
Steven Church of Bloomberg Law reports that Hertz Global Holdings
won court permission to borrow as much as $1.65 billion to help it
reorganize in bankruptcy.

A group of the company's first-lien lenders will provide the money
at an initial interest rate of 7.25 percentage points above the
London interbank offered rate
The group will also collect an undisclosed amount of fees.

Lenders who signed a letter committing to fund the loan include
Apollo Global Management, Diameter Capital Partners and Silver
Point Capital, according to court documents. Hertz filed for
bankruptcy in May 2020.

                        About Hertz Corp.

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

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

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

White & Case LLP is serving as legal advisor, Moelis & Co. is
serving as investment banker, and FTI Consulting is serving as
financial advisor. Richards, Layton & Finger, P.A., is the local
counsel.  Prime Clerk LLC is the claims agent, maintaining the page
https://restructuring.primeclerk.com/hertz


HORTON INVESTMENTS: Hires Link Realty as Real Estate Broker
-----------------------------------------------------------
Horton Investments, LLC, seeks authority from the U.S. Bankruptcy
Court for the Western District of Virginia to employ Link Realty
Services LLC, as real estate broker to the Debtor.

Horton Investments requires Link Realty to market and sell the
Debtor's real properties located at 2731 & 2751 Front Royal Pike,
Winchester, VA 22601 (Frederick County), and another parcel
consisting of 11.923 acres, located at the southeast corner of Rt.
340 and 522 (Clarke County).

Link Realty will be paid a commission of 5% of the gross sale
proceeds.

Meridee Powars, partner of Link Realty Services 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.

Link Realty can be reached at:

     Meridee Powars
     LINK REALTY SERVICES LLC
     420 W. Jubal Early Drive
     Winchester, VA 22601
     Tel: (540) 450-0142

                   About Horton Investments

Horton Investments, LLC, primarily engages in renting and leasing
real estate properties.

Horton Investments filed a voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. W.D. Va. Case No.
20-50647) on Aug. 28, 2020.  The petition was signed by Nancy B.
Horton, member manager.  The Debtor hired Hoover Penrod, PLC as
counsel.



IMMUNE PHARMACEUTICALS: TSP Buying Remaining Assets for $150K
-------------------------------------------------------------
Jeffrey A. Lester, the Chapter 7 Trustee for Immune
Pharmaceuticals, Inc., and affiliates, ask the U.S. Bankruptcy
Court for the District of New Jersey to authorize the sale of the
Debtors' remaining assets to TSP Therapeutics, Inc. for $150,000,
free and clear of liens, claims and interests, subject to higher
and better offers.

During the Chapter 7 period, the Trustee received an offer from the
Buyer to purchase the remaining assets of the Debtors.  On Sept.
24, 2020, they entered into an Asset Purchase Agreement embodying
the Offer.  On Oct. 7, 2020, the Trustee and the Buyer executed a
First Amendment to the APA providing for a modified sale order.

The material terms of the APA are as follows: (a) the Trustee will
convey, without representation or warranty, to the Buyer all of the
Debtors' right, title and interest in the product histamine
dihydrochloride (trade name Ceplene®), formulations of verubulin
(trade name Azixa), Amitriptyline and Ketamine emulsion (trade name
Amiket), Lidocane Patch (trade name Lidopain) and Crolivulin, as
more fully described on Exhibit A to the APA; (b) the purchase
price to be paid by the Buyer for the Assets is $150,000 payable
$75,000 down (receipt of which is acknowledged) and the balance
upon closing; (c) the sale is subject to Court approval; (d)
certain executory contracts will be assumed and assigned; and (e)
the offer will be subject to higher and better offers.  

Upon information and belief, the Assets, with the exception of
causes of action and recoveries from the Israeli liquidation of
Ltd., constitute substantially all of the remaining unsold assets
of the Debtors.

Notwithstanding the marketing efforts of the Debtors and the
Committee during the Chapter 11 period, they were unsuccessful in
selling the Assets.  The Trustee during the Chapter 7 period
received several expressions of interest in the Assets.  However,
the Offer is the only one that came to fruition.   

The Trustee asks approval of the sale of the Assets pursuant to the
terms and conditions of the APA.

Exhibit A to the APA describes the Assets in detail.  Included in
that description is certain intellectual property including patents
and related agreements.  It is unclear if these items are executory
contracts.  Nonetheless, in an excess of caution, to the extent
that they are executory contracts, the Trustee asks to assume and
assign them under Section 365.  He reserves the right to argue that
any or all of those items are not executory contracts.

The Trustee is not aware of any defaults that need to be cured.  By
notice of the Motion, he has given counter-parties to these
agreements an opportunity to object to assumption and assignment
and/or to assert that there is a cure amount.  If the Trustee
objects to any cure amount asserted, the Court will determine the
cure amount at the hearing on approval of the sale.

Contemporaneously with the Motion, the Trustee is submitting an
application and order shortening time seeking to have a hearing on
approval of the sale prior to Oct. 25, 2020.  The reason for
shortened time is that the Trustee has just been informed that
there is an Oct, 25, 2020 deadline to renew certain of the patents
included in the Assets. The cost of renewal is approximately
$86,000.  He does not have the wherewithal to fund the cost of
renewal of these patents.  The Buyer is prepared to take the
responsibility for renewal of the patents only of the sale is
approved prior to the Oct. 25, 2020 deadline.  

The sale is subject to higher and better offers.  Competing bidders
must file a writing setting forth their competing bid by the
Objection Deadline containing the following: (i) offer amount; and
(ii) assets to be purchased.  Any competitive bid will be subject
to the same terms and conditions contained in the APA.  A
competitive bidder must telephonically appear at the hearing on
approval of the sale.  A competitive bidder must deliver a 50% down
payment in good funds to the Trustee prior to the hearing.  In
order for any competitive bid to be higher or better it must be in
an amount greater than $155,000.  If there are competitive bids,
procedures for the auction will be announced at the hearing.

Finally, the Trustee respectfully asks that the proposed Order
submitted herewith be effective immediately, so that the Buyer can
promptly take possession of the Assets and renew the patents before
the Oct. 25, 2020 deadline.

A copy of the APA s available at https://tinyurl.com/y3ngtd9b from
PacerMonitor.com free of charge.

                About Immune Pharmaceuticals

Immune Pharmaceuticals Inc., together with its subsidiaries, is a
clinical stage biopharmaceutical company specializing in the
development of novel targeted therapeutic agents in the fields of
inflammation, dermatology, and oncology. The company is
headquartered in Englewood Cliffs, New Jersey.  

Immune Pharmaceuticals, et al., filed for bankruptcy protection
(Bankr. D.N.J. Case No. 19-13273) on Feb. 17, 2019.  The petition
was signed by Anthony Fiorino, president and interim CEO.

The Debtors had total assets of $20,716,000 and total debts of
$19,874,000 as of Sept. 30, 2018.

The Hon. Vincent F. Papalia oversees the cases.

The Debtors tapped Norris McLaughlin & Marcus, PA as bankruptcy
counsel; Lowenstein Sandler LLP as special corporate counsel;
Armory Group LLC and Vine Holding Group as investment bankers.


INSPIRED CONCEPTS: Creditors Committee Negotiates 17.5% Plan
------------------------------------------------------------
Debtor Inspired Concepts LLC filed the First Amended Combined Plan
of Reorganization and Disclosure Statement which intends to fund
the payments to the Unsecured Creditors through operation of its
restaurants.

The Plan provides that the class of Unsecured Creditors (Class IV)
will receive a promissory note in the amount of $625,000, bearing
5% interest, (the "Plan Note") which will be paid monthly to a
creditors' trust for the benefit of Unsecured Creditors.
Distributions from the creditors trust will be made bi-annually to
the Unsecured Creditors.  The Plan Note will be secured by a junior
lien on all of the assets of the Debtor, including the equity in
its subsidiaries.  In addition, the Unsecured Creditors will
receive 60% of the proceeds, if any, of certain litigation brought
by the Debtor against its insurer for harm sustained as a result of
the Coronavirus outbreak.

The Committee negotiated what it concluded was the best deal it
could for the Unsecured Creditors under the circumstances.  That
deal is embodied in the proposed Plan that accompanies this letter.
The negotiations between the Committee and the Debtor included
three days of mediation over a two week period.  As a result of the
negotiations, the treatment for Unsecured Creditors under the Plan
significantly improved.  Among other things, the total Plan
payments increased from $500,000 to $625,000 and the Debtor's Plan
obligations to the Unsecured Creditors will be secured by the
Debtor's assets.  The negotiated treatment provides an estimated
17.5% return to the Unsecured Creditors' Claims.

The Committee believes that the Plan represents the best chance for
the Unsecured Creditors to receive money on their Claims.
Unsecured Creditors would likely not receive any payment on their
Claims in a liquidation.  Pursuant to the Debtor's liquidation
analysis, the value of the Debtor's assets at liquidation are
insufficient to satisfy (i) the secured debt owing to Fifth Third
Bank, N.A. and Mercantile Bank and (ii) the administrative expenses
– each of which are paid before any payment is made to Unsecured
Creditors.  As a result, the Unsecured Creditors would not receive
any money on account of their Claims in a liquidation of the
Debtor.

A full-text copy of the First Amended Combined Plan and Disclosure
Statement dated August 27, 2020, is available at
https://tinyurl.com/yyxjn32x from PacerMonitor at no charge.

Attorneys for Debtor:

         WERNETTE HEILMAN PLLC
         Ryan D. Heilman
         40900 Woodward Ave., Suite 111
         Bloomfield Hills, MI 48304
         Tel: (248) 835-4745
         E-mail: ryan@wernetteheilman.com

                    About Inspired Concepts LLC

Inspired Concepts LLC, a privately held investment and restaurant
management company in Mt. Pleasant, Mich., sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. E.D. Mich. Case No.
20-20034) on Jan. 10, 2020.  At the time of the filing, the Debtor
had estimated assets of between $500,000 and $1 million and
liabilities of between $1 million and $10 million.  Judge Daniel S.
Opperman oversees the case.  Jeffrey Grasl, Esq., at Grasl, PLC,
was originally the Debtor's legal counsel.  The Debtor later hired
Wernette Heilman PLLC as substitute counsel to Grasl, PLC.


INSPIRED CONCEPTS: UST Opposes Plan, Seeks Case Dismissal
---------------------------------------------------------
Andrew R. Vara, United States Trustee, objects to the First Amended
Combined Plan of Reorganization and Disclosure Statement of debtor
Inspired Concepts, LLC.

The U.S. Trustee claims that the Debtor's Plan cannot be confirmed
until and unless all creditors and all parties in interest have
been provided with a copy of the proposed Creditor's Trust
Agreement and have been given adequate time to review and object to
the terms of same.

The U.S. Trustee points out that the proposed Equity Auction
appears to be a premature attempt to cram down the plan pursuant to
11 U.S.C. Sec. 1129(b), prior to any disallowance of the plan under
11 U.S.C. Sec. 1129(a) and prior to the findings by the Court
necessary to permit a cram down.

The U.S. Trustee asserts that Section II, A. does not properly
disclose the Debtor's interest in CharBhan or JNPJ.

The U.S. Trustee further asserts that Section III, A. and B.
describe numerous events affecting the Debtor's case.  However,
since the date the Debtor's Plan and Disclosure Statement was filed
a myriad of other actions have taken place which all creditors and
parties in interest should be advised about to help determine their
position on the Debtor's Plan and Disclosure Statement.

The U.S. Trustee filed a motion to dismiss this case on Sept. 23,
2020.  The Debtor's Plan should not be confirmed until after a
determination has been made whether this case will be dismissed or
not, based on the U.S. Trustee's motion.

A full-text copy of the U.S. Trustee's objection to combined plan
and disclosure dated September 24, 2020, is available at
https://tinyurl.com/y6h3cjlq from PacerMonitor.com at no charge.

                      About Inspired Concepts

Inspired Concepts LLC, a privately held investment and restaurant
management company in Mt. Pleasant, Mich., sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. E.D. Mich. Case No.
20-20034) on Jan. 10, 2020.  At the time of the filing, the Debtor
had estimated assets of between $500,000 and $1 million and
liabilities of between $1 million and $10 million.  Judge Daniel S.
Oppermanbaycity oversees the case.  Jeffrey Grasl, Esq., at Grasl,
PLC, was originally the Debtor's legal counsel.  The Debtor later
hired Wernette Heilman PLLC as substitute counsel to Grasl, PLC.


J & R VALLEY: Mission Vacuum Selling Various Assets
---------------------------------------------------
Mission Vacuum & Pump Truck Service, Inc., an affiliate of J & R
Valley Oilfield Services, Inc., asks the U.S. Bankruptcy Court for
the Southern District of Texas to authorize the sale of various
vehicles, equipment, and other personal property that it owns,
which are described in Exhibit A.

In order to maximize value to the Estate, the Debtor has determined
that it is best to sell the Subject Assets.  The proceeds from said
sales will be paid to the secured lender, Rio Bank.

The proposed Purchasers recently agreed to pay certain amounts
(which are listed in Exhibit A) for the Subject Assets, subject to
the Court's approval, on the following terms:

      a. Guadalupe Arechiga will pay, within 14 days of the Court
granting the Motion (if granted), $2,500, lump sum, for the 2011
Dodge Ram 2500 Pickup described in Exhibit A.

      b. Tacho Cavazos will pay, within 14 days of the Court
granting the Motion (if granted), $6,000, lump sum, for the 2011
Dragon Tank Trailer described in in Exhibit A.

      c. Flores Trucking is purchasing several items (described in
Exhibit A) and will pay, within 14 days of the Court granting this
Motion (if granted), the amounts stated (in Exhibit A) in lump sum,
for each particular asset that is adjacent to each amount stated,
in Exhibit A.

      d. Longhorn Paving is purchasing several tank trailers
(described in Exhibit A) and will pay, within 14 days of the Court
granting the Motion (if granted), the amounts stated (in the
attached exhibit) in lump sum, for each particular tank trailers
(described in Exhibit A) that is adjacent to each amount stated, in
Exhibit A.

      e. Rivera Welding is purchasing several "Oilfield Frac Tanks"
(described in Exhibit A) and will pay, immediately upon the Court
granting the Motion (if granted), the amounts stated (in the
attached exhibit) in lump sum, for each particular rac tank
(described in Exhibit A) that is adjacent to each amount stated, in
Exhibit A.

      f. Sarreal, S.A. de C.V. is purchasing several items
(described in Exhibit A) and will pay, within 14 days of the Court
granting the Motion (if granted), the amounts stated (in in Exhibit
A) in lump sum, for each particular asset that is adjacent to each
amount stated, in Exhibit A.

      g. Jesse Olmeda is purchasing several items (described in
Exhibit A) and will pay, within 14 days of the Court granting the
Motion (if granted), the amounts stated (in Exhibit A) in lump sum,
for each particular asset that is adjacent to each amount stated,
in Exhibit A.

All of the sales proceeds from the referenced sales will be made
payable to Rio Bank, the secured lender.  Rio Bank, which has
security interests in the Subject Assets, has agreed to the
requested sales of the Subject Assets.  Moreover, with respect to
the security interests in the Subject Assets, the secured lender,
Rio Bank, has agreed to the requested sales.  Moreover, the Debtor
submits that the security interests will be adequately protected by
virtue of Rio Bank, the secured lender, receiving all of the
proceeds from the sales of the Subject Assets.  

Accordingly, the Debtor asks that the Court approves the sales of
the Subject Assets, free and clear of all liens, claims, charges,
encumbrances, and interests.

It also asks, in accordance with Federal Rules of Bankruptcy
Procedure 6004(h), that the Court waives the requirement that the
order approving the sales be stayed for 14 days after the entry of
the Sale Order and authorize that the order be effective and
enforceable immediately upon its entry.

The reason why expedited relief is sought is that some of the
potential purchasers of the Subject Property have informed the
Debtor that, if the equipment cannot be purchased in the next few
days, then they are going to purchase from another seller.

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

A copy of the Exhibit A is available at
https://tinyurl.com/y35385sk from PacerMonitor.com free of charge.
  
               About J & R Valley Oilfield Services

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

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

At the time of the filing, J & R Valley disclosed assets of between
$1 million and $10 million and liabilities of the same range.
Mission Vacuum had estimated assets of between $500,001 and $1
million and liabilities of between $1 million and $10 million as of
the petition date.  Judge Eduardo V. Rodriguez oversees the cases.
The Debtors have tapped Villeda Law Group as their legal counsel,
and Santiago Gonzalez Jr., CPA as their accountant.


J & R VALLEY: Sarreal Buying 20 Pickups for $60K
------------------------------------------------
J & R Valley Oilfield Services, Inc., asks the U.S. Bankruptcy
Court for the Southern District of Texas to authorize the sale of
20 pickups, which are described in Exhibit A, to Sarreal, S.A. de
C.V. for $60,000.

In order to maximize value to the Estate, the Debtor has determined
that it is best to sell the Subject Assets.  The proceeds from said
sales will be paid to the secured lender, Rio Bank.

The proposed Purchaser recently agreed to pay certain amounts
(which are listed in Exhibit A) for the Subject Assets, subject to
the Court's approval.  Sarreal will pay, promptly after the Court
grants the Motion, the amounts stated, in lump sum, in Exhibit A,
for each particular asset that is adjacent to each amount stated.
All of the sales proceeds will be made payable to Rio Bank, the
lienholder.  

Rio Bank, which has security interests in the Subject Assets, has
agreed to the requested sales of the Subject Assets.  With respect
to the security interests in the Subject Assets, Rio Bank has
agreed to the requested sales.  Moreover, the Debtor submits that
the security interests will be adequately protected by virtue of
Rio Bank receiving all of the proceeds from the sales of the
Subject Assets.

Accordingly, the Debtor asks that the Court approves the sales of
the Subject Assets, free and clear of all liens, claims, charges,
encumbrances, and interests.

It also asks, in accordance with Federal Rules of Bankruptcy
Procedure 6004(h), that the Court waives the requirement that the
order approving the sales be stayed for 14 days after the entry of
the Sale Order and authorize that the order be effective and
enforceable immediately upon its entry.

The reason why expedited relief is sought is that some of the
potential purchasers of the Subject Property have informed the
Debtor that, if the equipment cannot be purchased in the next few
days, then they are going to purchase from another seller.

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

A copy of the Exhibit A is available at
https://tinyurl.com/y2pdcxkx from PacerMonitor.com free of charge.
  
               About J & R Valley Oilfield Services

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

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

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

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


JAMROCK CONSTRUCTION: Hires Rothbloom Law Firm as Counsel
---------------------------------------------------------
Jamrock Construction, Inc., seeks authority from the U.S.
Bankruptcy Court for the Northern District of Georgia to employ The
Rothbloom Law Firm, as counsel to the Debtor.

Jamrock Construction requires Rothbloom Law Firm to:

   (a) assist in the preparation of pleadings and applications;

   (b) conduct examinations;

   (c) advise the Debtor of its rights, duties, and obligations
       as a debtor-in-possession;

   (d) consult with the Debtor and represent the Debtor with
       respect to preparation and advocacy of a plan of
       reorganization and disclosure statement;

   (e) represent the Debtor in contested matters and adversary
       proceedings; and

   (f) advise and represent the Debtor with respect to such other
       matters which may arise incidental to the proper
       preservation and administration of the Debtor's estate and
       business.

Rothbloom Law Firm will be paid at these hourly rates:

     Attorneys             $350
     Paralegals            $350

Rothbloom Law Firm will be paid a retainer in the amount of
$12,500.

Rothbloom Law Firm will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Howard D. Rothbloom, partner of The Rothbloom Law Firm, 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.

                    About Jamrock Construction

Jamrock Construction, Inc., filed a Chapter 11 bankruptcy petition
(Bankr. N.D. Ga. Case No. 20-70471) on Oct. 6, 2020.  The Debtor
hired The Rothbloom Law Firm, as counsel.


JM BROWN: Awaits Boneyard Plan; Hearing Deferred to Nov. 19
-----------------------------------------------------------
JM Brown Properties, LLC, filed a Plan of Reorganization and
Disclosure Statement on Aug. 25, 2020,  along with a Motion for
Order Conditionally  Approving Disclosure Statement.

An Order Conditionally Approving Disclosure Statement and Fixing
Time for Filing Acceptances or Rejections of Plan combined with a
Notice of Hearing was entered on Aug. 27, 2020, scheduling a
confirmation hearing at 9:30 a.m. on October 1, 2020.  

Contemporaneously, Boneyard Archery, Inc., filed an Amended Chapter
11 Plan in its own Chapter 11 case.    

JM Brown's plan relies heavily on the confirmation of the Boneyard
Plan as JM Brown's plan is funded solely by the operations of
Boneyard.

Accordingly the Debtor sought and obtained an order directing that
the hearing on the adequacy of the Disclosure Statement and the
confirmation hearing scheduled for Oct. 1, 2020 be continued to
Nov. 19, 2020 at 11:00 a.m

                  About JM Brown Properties

JM Brown Properties, LLC, a company based in Madison, N.C., sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. M.D.N.C.
Case No. 20-10475) on May 26, 2020.  At the time of the filing, the
Debtor disclosed assets of between $100,001 and $500,000 and
liabilities of the same range.  Judge Benjamin A. Kahn oversees the
case.  Ivey, McClellan, Gatton & Siegmund is Debtor's legal
counsel.

                    About Boneyard Archery

Boneyard Archery Inc. operates an archery shop and facility located
at 184 Old Covered Bridge Road, Madison, N.C.

Boneyard Archery sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. M.D.N.C. Case No. 20-10476) on May 26,
2020, listing under $1 million in both assets and liabilities.
Judge Benjamin A. Kahn oversees the case.  Ivey, Mcclellan, Gatton
& Siegmund, LLP, is the Debtor's legal counsel.


KAUMANA DRIVE: Seeks Approval to Hire KDL CPAs as Accountant
------------------------------------------------------------
Kaumana Drive Partners, LLC seeks approval from the U.S. Bankruptcy
Court for the District of Hawaii to hire KDL CPAs, LLC as its
accountant.

The firm will assist the Debtor in the preparation of the Hawaii
annual general excise tax return for the year ended December 31,
2019.

KDL CPAs will be paid a flat fee of $2,000 plus applicable general
excise tax.

The firm does not hold or represent an interest adverse to the
Debtor or its estate, according to a court filing.

The firm can be reached through:

     KDL CPAs, LLC
     Topa Financial Center
     745 Fort Street, Suite 1415
     Honolulu, HI 96813
     Telephone: (808) 555-5555

                 About Kaumana Drive Partners, LLC
                  dba Legacy Hilo Rehabilitation
                        and Nursing Center

Kaumana Drive Partners, LLC, owner of a skilled nursing care
facility in Hilo, Hawaii, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Hawaii Case No. 19-01266) on Oct. 6,
2019.

At the time of the filing, the Debtor was estimated to have assets
between $10 million and $50 million and liabilities of the same
range.

The case is assigned to Judge Robert J. Faris.

The Debtor tapped Choi & Ito, Attorneys at Law as its legal
counsel.


KB US HOLDING: Committee Hires AlixPartners as Financial Advisor
----------------------------------------------------------------
The Official Committee of Unsecured Creditors of KB US Holding,
Inc., and its debtor-affiliates, seeks authorization from the U.S.
Bankruptcy Court for the Southern District of New York to retain
AlixPartners, LLP, as financial advisor to the Committee.

The Commitee requires AlixPartners to:

   a. review and evaluate the Debtors' current financial
      condition, business plans and cash and financial forecasts,
      and periodically report to the Committee regarding the
      same;

   b. review the Debtors' cash management, tax sharing and
      intercompany accounting systems, practices and procedures;

   c. review and investigate: (i) related party transactions,
      including those between the Debtors and non-debtor
      subsidiaries and affiliates (including, but not limited to,
      shared services expenses and tax allocations) and (ii)
      selected other pre-petition transactions;

   d. identify and/or review potential preference payments,
      fraudulent conveyances and other causes of action that the
      various Debtors' estates may hold against third parties,
      including each other;

   e. analyze the Debtors' assets and claims and assess potential
      recoveries to the various creditor constituencies under
      different scenarios;

   f. evaluate any proposed sale process and related bids and
      participate in any meetings with bidders or auction, as
      required;

   g. assist in the development and/or review of the Debtors'
      plan of reorganization and disclosure statement;

   h. review and evaluate court motions filed or to be filed by
      the Debtors or any other parties-in-interest, as
      appropriate;

   i. render expert testimony and litigation support services,
      including e-discovery services, as requested from time to
      time by the Committee and its counsel, regarding any of the
      matters to which AlixPartners is providing services;

   j. attend Committee meetings and court hearings as may be
      required in the role of advisors to the Committee; and

   k. assist with such other matters as may be requested that
      fall within AlixPartners' expertise and that are mutually
      agreeable.

AlixPartners will be paid at these hourly rates:

     Managing Director          $1,000 to $1,195
     Director                     $800 to $950
     Senior Vice President        $645 to $735
     Vice President               $470 to $630
     Consultant                   $175 to $465
     Paraprofessional             $295 to $315

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

David MacGreevey, partner of AlixPartners, 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 (a) is not creditors,
equity security holders or insiders of the Debtors; (b) has not
been, within two years before the date of the filing of the
Debtors' chapter 11 petition, directors, officers or employees of
the Debtors; and (c) does not have an interest materially adverse
to the interest of the estate or of any class of creditors or
equity security holders, by reason of any direct or indirect
relationship to, connection with, or interest in, the Debtors, or
for any other reason.

AlixPartners can be reached at:

     David MacGreevey
     ALIXPARTNERS, LLP
     909 Third Avenue, Floor 30
     New York, NY 10022
     Tel: (212) 490-2500
     Fax: (212) 490-1344

                       About KB US Holding

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

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

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

Judge Sean H. Lane oversees the cases.

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


KETTNER INVESTMENTS: Hires Procopio Cory as Special Counsel
-----------------------------------------------------------
Kettner Investments, LLC, seeks authority from the U.S. Bankruptcy
Court for the District of Delaware to employ Procopio Cory
Hargreaves & Savitch LLP, as special counsel to the Debtor.

Kettner Investments requires Procopio Cory to:

   (a) advise and represent the Debtor regarding certain
       prepetition litigation to which the Debtor is a party that
       is currently pending in California state and federal
       court;

   (b) provide guidance and assistance to the Debtor regarding
       the specialized legal issues arising from the potential
       sale or purchase of securities by the Debtor during this
       Chapter 11 Case;

   (c) assist Bayard, P.A., with any issues regarding securities
       or litigation involving the Debtor that arise during the
       pendency of this Chapter 11 Case that may adversely affect
       the Debtor; and

   (d) perform the full range of services normally associated
       with the aforementioned matters.

Procopio Cory will be paid at these hourly rates:

     Partners                    $525 to $670
     Of Counsels                 $500 to $670
     Associates                  $325 to $450
     Paraprofessionals               $250

As of the month end preceding the filing date of the petition on
August 31, 2020, the Debtor owed Procopio Cory approximately
$839,607.00 for legal fees. Procopio Cory will be preparing and
will timely file a Proof of Claim to reflect the exact amount of
pre-petition debt owed as of September 15, 2020.

Procopio Cory will also be reimbursed for reasonable out-of-pocket
expenses incurred.

William A. Smelko, of counsel at Procopio Cory Hargreaves & Savitch
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.

Procopio Cory can be reached at:

     William A. Smelko, Esq.
     PROCOPIO CORY HARGREAVES & SAVITCH LLP
     525 B St., Suite 2200
     San Diego, CA 92101
     Tel: (619) 238-1900

                   About Kettner Investments

Kettner Investments, LLC sought protection under Chapter 11 of the
Bankruptcy  Code (Bankr. D. Del. Case No. 20-12366) on Sept. 16,
2020. At the time of the filing, the Debtor disclosed assets of
between $10 million and $50 million and liabilities of the same
range. Judge Karen B. Owens oversees the case. Bayard, P.A. serves
as Debtor's legal counsel. Procopio Cory Hargreaves & Savitch LLP,
as special counsel.



LABL INC: S&P Upgrades ICR to 'B'; Outlook Negative
---------------------------------------------------
S&P Global Ratings raised its long-term issuer credit rating on
packaged goods label company LABL Inc. (doing business through its
Batavia, Ohio-based subsidiary Multi-Color Corp.) to 'B' from 'B-'
and its issue-level ratings on the company's existing credit
facilities and senior secured and unsecured notes by one notch.
S&P's recovery ratings on the company's debt remain unchanged.

The upgrade follows the cancellation by LABL Intermediate Holding
Corp., the indirect parent of LABL Inc., of its proposed issuance
of $500 million of payment-in-kind (PIK) toggle notes. The company
had intended to use the proceeds from these notes to fund a
distribution to its shareholders, including financial sponsor
Platinum Equity Advisors LLC.

Meanwhile, the negative outlook reflects the one-in-three potential
that ownership and management will attempt to initiate another
re-leveraging transaction during the next year such that
Multi-Color's adjusted debt to EBITDA continually exceeds 7x. This
risk is partially offset by our expectation for organic growth of
roughly 3%, continued operational improvements, and the absence of
previously incurred transactions costs, which will continue to
gradually enhance the company's profitability.

Cancelling the transaction provides the company with a clearer path
to maintain the current rating.  

S&P said, "In the absence of the holding company PIK notes,
Multi-Color once again has a clearer path to reduce its adjusted
debt to EBITDA toward 7x, which is the level we consider
appropriate for the current rating. Before the cancellation of the
PIK notes, we had anticipated the company's debt leverage would
exceed 9x as of the end of 2020. Following the cancellation, and
assuming management doesn't undertake any other similar-size
re-leveraging events, we estimate that Multi-Color will report
adjusted debt to EBITDA of 7.7x as of the end of 2020 before
further reducing its leverage to 6.1x as of the end of 2021."

"We have adjusted our projected key credit metrics.  We lowered our
projected debt balances to account for the absence of the senior
unsecured holding company PIK notes. We note that our cash flow
calculations are unaffected because we assumed the notes would have
accrued PIK interest rather than cash interest."

"Multi-Color's financial policies remain key to our ratings.
Despite ownership and management's decision to withdraw the
transaction for the time being, we still view the company's
financial policies as aggressive. It is unclear whether Multi-Color
is willing to deleverage to 7x and maintain its leverage at this
level or if the cancellation of the holding company PIK note
issuance is merely a short-term delay in management's strategy. If
financial-sponsor Platinum Equity and management decide to attempt
another dividend recapitalization transaction of a similar size
with similarly deleterious anticipated effects on the company's
credit measures, then we could lower our ratings again."

"The negative outlook reflects the one-in-three potential that we
will lower our ratings on Multi-Color during the next 12 months if
ownership and management attempt a similar-size dividend
recapitalization transaction that would materially increase the
company's debt leverage. We believe Multi-Color may still benefit
from its underlying growth potential and continue to realize some
operational improvements such that it is able to generate a
sufficient level of cash flow to satisfy its fixed charges."

"We could lower our ratings on Multi-Color if it attempts to
undertake a similar-size dividend recapitalization transaction or
pursues expensive debt-funded acquisitions that cause its credit
measures to deteriorate beyond acceptable levels. We could also
lower our ratings if it experiences persistently weak economic
conditions amid the COVID-19 pandemic that lead to
slower-than-expected sales growth, a failure to achieve its
operational initiatives, or constrained liquidity. We recognize
that there has recently been a resurgence in COVID-19 cases.
Renewed economic shutdowns or prolonged delays in re-openings could
cause the demand for some label types to decline, which may lead
Multi-Color's adjusted debt to EBITDA to remain above 7x on a
sustained basis."

"We could revise our outlook on Multi-Color to stable in 2021 if a
sustained improvement in its overall operating performance and
adherence to disciplined financial policies reduces its adjusted
debt to EBITDA comfortably below 7x on a sustained basis. We
anticipate that Multi-Color will steadily improve its earnings as
the pandemic-related risks subside, its sales volumes recover, and
its effective cost management and realization of operating
synergies allow it to sustain solid operating margins in line with
our expectations."


LESLIE'S POOLMART: S&P Places 'B' ICR on CreditWatch Positive
-------------------------------------------------------------
S&P Global Ratings placed all of its ratings on U.S. specialty pool
supply retailer Leslie's Poolmart Inc., including the 'B' issuer
credit rating, on CreditWatch with positive implications,
reflecting the high likelihood of a significant reduction in
leverage.

A successful IPO should generate sufficient proceeds to
substantially reduce debt, leading to leverage improving to below
5x.

On Oct. 28, 2020, Leslie's announced the pricing of its IPO. The
company also outlined expectations for total net proceeds of
approximately $465 million, which it intends to use to fully repay
the $390 million outstanding (as of June 2020) senior unsecured
notes due 2024. It will use remaining proceeds for working capital
and general corporate purposes, potentially including a partial
repayment of the $815 million outstanding (as of June 2020) term
loan due 2023.

As of the third quarter of fiscal 2020, S&P Global Ratings'
adjusted leverage was 5.8x, with about $1.4 billion of total
adjusted debt.

S&P said, "Although we need to assess our expectations for business
performance, it is our view that an IPO generating sufficient funds
to fully repay the senior unsecured notes would lead to leverage
below 5x, which is our current trigger for an upgrade."

Still, clarity around future ownership and financial policies as a
public company remain important considerations as S&P assesses the
likelihood for leverage sustained below 5x.

An upgrade is also dependent on S&P's assessment of the company's
financial policies following the IPO. Moreover, the level of
ownership and influence that financial sponsor L Catterton will
retain post-transaction is an important consideration.

S&P intends to resolve the CreditWatch placement following
completion of the IPO and proposed debt reduction. S&P will also
review its expectations for business performance and the company's
financial policy.


LIBBEY INC: Nearing Emergence From Bankruptcy
---------------------------------------------
Toledo Blade reports that Libbey Inc. is in the final stages of a
complex plan to emerge from bankruptcy as a private company with
new ownership and a clean financial slate.

While Libbey first expected to exit bankruptcy proceedings in
September, the company this week filed another in a series of
extensions that moves the projected date to Nov. 6, 2020.

Libbey, a Delaware-based corporation headquartered in Toledo, filed
for Chapter 11 back in June 2020 — a first in its 202-year
history — after declaring it had assets of between $100 million
and $500 million and liabilities between $500 million and $1
billion.

The company's creditors numbered between 10,000 and 25,000 and its
second-quarter financial statements of this year show that it lost
$83.8 million, or $3.64 cents a share, in that quarter alone.

The company's plan to come out of bankruptcy and become financially
solvent is detailed in its publicly-available 8K filing on Aug. 17
with the United States Securities and Exchange Commission. The plan
also is available for viewing on Libbey's bankruptcy case filed in
U.S. Bankruptcy Court in Delaware.

Under the plan, which was revised from an earlier filing, the
company would become a new business -- identified as Libbey Glass
LLC -- that would absorb its previous assets and transform from a
public entity to a new private entity under new ownership.

According to SEC and bankruptcy filings, the new parent firm would
temporarily be called Newco Inc. and have a holding company called
Holdco Inc. Those names are placeholders until new names can be
created.

The new owners, documents say, would be part of a lending group
that includes Credit Suisse, Brigade Capital Management LP, and six
other lenders. It remains unclear if other lenders will join that
group.

Three other lenders, Barclays Bank, CitiBank, and Fifth Third Bank
have all provided Libbey with debtor-in-possession financing to
keep the company afloat as it negotiates bankruptcy.

The plan wipes out stockholders and other equity interests, while
creditors will gain shares in the new company. It gives no
indication whether the current management would stay on to run
Libbey Glass LLC.

But in a recent SEC filing, current CEO Mike Bauer gives statements
indicating he will remain with the company.

"We look forward to working with all our stakeholders as we move
forward as a stronger partner and continue our 200+-year legacy of
delivering the finest glassware and tabletop products to the world
and empowering consumers to celebrate life’s moments," Mr.
Bauer's statement reads in part.

Representatives for Libbey have not responded to The Blade's
request for comment. A news release issued by the company said it
will "emerge from Chapter 11 in the coming weeks."

Kara Bruce, a University of Toledo law professor who specializes in
bankruptcy law, said the plan's confirmation by the United States
Bankruptcy Court for the District of Delaware marks a near-end
completion of Libbey's bankruptcy process and emergence as a new
company, barring any last-minute changes. The company will now have
to simply "effectuate the details in the plan" before the date it
takes effect, she said.

"The court has said it meets all of the requirements of the
bankruptcy code and the people who have interest in this case have
shown that they're on board with this plan," she said.  "This marks
the end of Libbey's bankruptcy."

In order to finalize its plan and reach an agreement to move
forward, Libbey met with stakeholders throughout the process,
mainly its creditors and the United Steelworkers Union.

After announcing its intentions to file for Chapter 11, which came
as Libbey said it could not "reasonably estimate the period of time
that these events will persist or the full extend of the impact
they will have on the business" amid the pandemic, the company
reduced its U.S. salaried work force by 15 percent.

Pat Gallagher, the sub-district 1 director for USWU, said the union
had to make some concessions in negotiations but hopes the plan
upon which workers ultimately came to agree sets the company on a
path to future success.

“The bargaining was difficult,” Mr. Gallagher said. "We didn't
get everything we wanted going forward, but we feel it’s an
agreement that we can build on in the future and hopefully provide
good-paying, viable jobs."

According to the company’s 8K filing, the estimated savings from
the union contract modifications will yield pretax cost savings of
approximately $31 million from 2020 through 2024.

The Chapter 11 filing placed a two-century legacy at risk. Libbey,
which was founded in 1818, played a pivotal role in earning Toledo
its "Glass City" nickname. The company currently employs over 6,000
people worldwide, has six factories in five countries, and produces
more than a billion pieces of glassware annually.

Ms. Bruce said the plan is a reasonable way for Libbey to move
forward, as it had faced hardships for a number of years that have
now been exacerbated by the pandemic.

"The company had been struggling for some time and then COVID-19 of
course just dramatically affected their demand for their product,"
she said. "... So I can understand why that would be a reason to go
into bankruptcy. Bankruptcy allows companies to look at what's
going well and what is going poorly and kind of create a
big-picture strategic change to help them be able to stay in
business."

                        About Libbey Inc.

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


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

The Hon. Laurie Selber Silverstein is the case judge.

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


LIVEXLIVE MEDIA: To Acquire E-Commerce Merchandie Company
---------------------------------------------------------
LiveXLive Media, Inc. has signed a binding Letter of Intent to
acquire 100% of the membership interests of Custom Personalization
Solutions, LLC in an all stock deal.

The transaction is valued up to $6 million, subject to a working
capital adjustment.  The proposed acquisition is expected to close
by Dec. 31, 2020, subject to customary and other closing
conditions.

Founded in 2012 and headquartered in Addison, IL, CPS is a group of
fast-growing web-oriented businesses specializing in the
merchandise personalization industry.  Owned and managed by
top-notch partners with a combined 50 years of personalization
experience, CPS has brought together its "Dream Team" of innovators
and designers to create an assortment of personalized merchandise
unlike anything in the market.  CPS currently has 70 plus full-time
employees

With the planned acquisition, LiveXLive will partner with the music
and entertainment industry, as well as stars who have massive
social media and marketing reach, to create and distribute unique
and limited edition personalized clothing, jewelry, toys as well as
virtual goods.  Digital and physical distribution of merchandise is
mainly online, but will also include numerous big-box retailers,
like Walmart, which further opens up promotional and marketing
opportunities for LiveXLive and its partners.

"The global licensed merchandise market is expected to reach $400
billion by 2023.  This acquisition presents an immense opportunity
for LiveXLive to leverage its audience, platform and artist and
entertainment industry relationships to add commerce and
specialized consumer product revenues to our music stack and help
drive the transaction components of our flywheel business model,"
said Robert Ellin, CEO and Chairman of LiveXLive.  "By integrating
social commerce into our live and original content, we intend to
fulfill superfans dreams with personalized merchandise from their
favorite artists and shows, directly to the consumer."

"The worlds of custom merchandise, real time fulfillment and social
commerce driven by celebrity and influencers have collided to
create a perfect storm.  LiveXLive represents the perfect partner
for us to take advantage of this next wave," said Scott Norman, CEO
of CPS.

LiveXLive's operating performance and consumer reach are showing
impressive growth across virtually all meaningful performance
metrics.  The company continues to drive compelling original
content, including pay-per-view events, new artist-driven format
and tentpoles, like LiveXLive's recently announced The Lockdown
Awards, across both LiveXLive and PodcastOne.  The opportunity is
expanding to monetize the company's content multiple times and in
multiple ways across numerous platforms, including carriers,
automobiles, and OTT.

LiveXLive has the first talent-centric platform focused on
superfans and building long-term franchises in audio music,
podcasting, OTT linear channels, PPV, and livestreaming.  Its model
includes multiple monetization paths including subscription,
advertising, sponsorship, merchandise sales, licensing and
ticketing.  The company's wholly-owned subsidiary, PodcastOne,
generates more than 2 billion downloads annually across more than
300 podcasts.  LiveXLive recently raised revenue guidance for its
2021 fiscal year based on strength in its core businesses.

                      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.


LOWERY'S SEAFOOD: Restaurant Seeks Chapter 7 Liquidation
--------------------------------------------------------
Mike Platania of Richmond BizSense reports that Lowery's Seafood
Restaurant, The longtime river country staple at 528 N. Church Lane
in Tappahannock, Virginia, filed for bankruptcy on Aug. 20.  The
restaurant, which has been in business more than 80 years,
initially sought Chapter 11 bankruptcy protection before requesting
that the case be converted to a Chapter 7 liquidation.

The filing comes nearly two years after members of its namesake
family, including William Wesley Lowery III and Robert Lowery, put
the restaurant up for sale so they could retire. They had an asking
price of $1.6 million, and included sister spot Captain’s Grill &
Patio with which Lowery's shares a roof. After a sale never
materialized, Williams' son, William Lowery IV, took over
operations.

Earlier this year the restaurant appeared on Gordon Ramsay's show
"24 Hours to Hell and Back," in which the celebrity chef attempts
to save troubled restaurants within a day. Ramsay's show remodeled
the restaurant and updated its menu, but the economic turmoil
wrought by COVID-19 took its toll.

The restaurant closed in early March due to the pandemic and has
remained shuttered since. Calls to Lowery's on Thursday went
unanswered.

Lowery's initial Chapter 11 claims the business has up to $50,000
in assets and between $1 million and $10 million in liabilities
owed to fewer than 50 creditors.

Among its largest debts, Lowery's owes $143,000 to Performance Food
Group and $204,000 to Atlantic Union Bank. It also owes $187,000
Virginia’s Department of Taxation and $100,000 to the Town of
Tappahannock.

                  About Lowery's Seafood Restaurant

Lowery's Seafood Restaurant is a classic eatery offering seafood
and homestyle sides amid cozy booths and an old-school feel.

Lowery's Seafood Restaurant, Inc., filed a Chapter 11 bankruptcy
petition (Bankr. E.D. Va. Case No. 20-33529) on Aug. 20, 2020.  On
Oct. 7, 2020, the Debtor won approval to convert the case to a
Chapter 7 bankruptcy liquidation.

The Debtor's counsel:

         Mark Joseph Dahlberg
         Woehrle Franklin Dahlberg Jones
         Tel: 540-898-8881
         E-mail: mark.dahlberg1@gmail.com


M&K ROGERS: Disclosure Statement Approved; Plan Hearing Nov. 10
---------------------------------------------------------------
Judge Mark X. Mullin of the U.S. Bankruptcy Court for the Northern
District of Texas, Fort Worth Division, on Oct. 2, 2020 approved
M&K Rogers Investments, LLC's Disclosure Statement for the Debtor's
Plan of Reorganization dated Aug. 25, 2020, as modified by the
First Supplement dated September 21, 2020.

A hearing on Debtor's First Chapter 11 Plan of Reorganization will
be held on Nov. 10, 2020 at 1:30 p.m. before the Honorable Judge
Mark X. Mullin, United States Bankruptcy Court, 501 W. 10th Street,
Fort Worth, Texas 76102.

Objections to the confirmation of the Plan must be filed and served
on counsel of record for the Debtor no later than Nov. 3, 2020.

Ballots accepting or rejecting the Debtor's Plan of Reorganization
are due Nov. 3, 2020, and will be submitted to counsel of record
for the Debtor:

      Joyce W. Lindauer
      Joyce W. Lindauer Attorney, PLLC
      1412 Main  Street, Suite 400
      Dallas, Texas 75202
      Tel: (972)503-4033
      Fax: (972) 503-434
      E-mail: joyce@joycelindauer.com.

                 About M&K Rogers Investments

M&K Rogers Investments, LLC is primarily engaged in renting and
leasing real estate properties. M&K Rogers filed a Chapter 11
petition (Bankr. N.D. Tex. Case No. 20-42258) on July 6, 2020.  In
the petition signed by signed by Michael J. Rogers, president, the
Debtor estimated $1 million to $10 million in assets and $1 million
to $10 million in liabilities.  Hon. Mark X. Mullin oversees the
case.  Joyce Lindauer, Esq. of JOYCE W. LINDAUER ATTORNEY, PLLC is
the Debtor's counsel.


M&K ROGERS: Independent Bank Objects to Disclosure Statement
------------------------------------------------------------
Independent Bank, a successor-in-interest to Community Bank (IB)
and a secured creditor, objects to the Disclosure Statement for
Plan of Reorganization of Debtor M&K Rogers Investments, LLC.

IB claims that the Disclosure Statement fails to provide any
information regarding whether Debtor intends to collect the
delinquent rent, whether the payment of such rent is required as a
condition to the assumption of the lease, and why rental payments
are apparently not required to resume until October of 2020. This
information is needed for IB to make an informed judgment about the
plan.

IB is an oversecured creditor and is entitled to post-petition
interest and any reasonable fees, costs or charges provided under
the Note and Deed of Trust. IB cannot determine based upon the
information in the Disclosure Statement if it will receive or
retain under the Plan on account of the Note a value, as of the
effective date of Plan, that is not less than the amount that IB
would receive or retain if the Debtor was liquidated under Chapter
7 of the Bankruptcy Code.

IB also objects to any provisions in the Disclosure Statement and
related Plan that implicitly enjoin IB from pursuing claims against
the Debtor's co-borrowers or guarantors.

IB asserts that there is insufficient information detailing with
any reasonable prospect of success how Debtor's tenant will
generate enough cash flow to make its rental payments to fund the
plan.

A full-text copy of IB's objection to the disclosure statement
dated September 18, 2020, is available at
https://tinyurl.com/yyq7cpej from PacerMonitor at no charge.

Attorneys for Independent Bank:

       Matthew T. Taplett
       William L. Tatsch
       Pope, Hardwicke, Christie, Schell, Kelly & Taplett, L.L.P.
       500 W. 7th Street, Suite 600
       Fort Worth, Texas 76102
       Telephone No.: (817) 332-3245
       Facsimile No.: (817) 877-4781
       E-mail: mtaplett@popehardwicke.com
               wtatsch@popehardwicke.com

                 About M&K Rogers Investments

M&K Rogers Investments, LLC is primarily engaged in renting and
leasing real estate properties. M&K Rogers filed a Chapter 11
petition (Bankr. N.D. Tex. Case No. 20-42258) on July 6, 2020.  In
the petition signed by signed by Michael J. Rogers, president, the
Debtor estimated $1 million to $10 million in assets and $1 million
to $10 million in liabilities.  Hon. Mark X. Mullin oversees the
case.  Joyce Lindauer, Esq. of JOYCE W. LINDAUER ATTORNEY, PLLC is
the Debtor's counsel.


M&K ROGERS: Resolves IB Disclosure Objections
---------------------------------------------
M&K Rogers Investments, LLC, filed a First Supplement to its
Disclosure Statement for Debtor's Plan of Reorganization filed in
this case in order to address issues raised by Independent Bank.
Responses to their issues raised are addressed with further
disclosure as follows:

ARTICLE III

Financial Picture of the Debtor

Financial History and Background of the Debtor

3.01 The Debtor owns a building located at 3517 S. Bowen Rd.,
Arlington, TX 76016 (the "Property").  The Property is in very good
condition. It houses the dental practice of Dr. Michael Rogers,
D.D.S. Dr. Rogers has practiced general dentistry for over 20
years. Dr. Rogers dental practice pays rent to the Debtor for its
use of the building. The rent has averaged $13,600.00 per month.
This rent will continue to be the source of the funding to
facilitate the plan and its payments.

Revenue from the dental practice has reduced due to the effects of
the COVID pandemic as patients are delaying dental treatment and
due to statewide mandates, the daily number of patients seen has
reduced. The Debtor expects the rent payments from the dental
practice to resume as the economy reopens and the daily number of
patients serviced normalizes. Further, the dental practice is
actively trying to sublease the space they are not using at this
time which will bolster the cash flow needed to pay rent to the
Debtor.  The Debtor attaches the following exhibits to support the
feasibility of the Plan as these financials evidences the dental
practice's ability to make the rent payments.

                   About M&K Rogers Investments

M&K Rogers Investments, LLC, is primarily engaged in renting and
leasing real estate properties. M&K Rogers filed a Chapter 11
petition (Bankr. N.D. Tex. Case No. 20-42258) on July 6, 2020.  In
the petition signed by signed by Michael J. Rogers, president, the
Debtor estimated $1 million to $10 million in assets and $1 million
to $10 million in liabilities.  The Hon. Mark X. Mullin oversees
the case.  Joyce Lindauer, Esq. of JOYCE W. LINDAUER ATTORNEY, PLLC
is the Debtor's counsel.


MACY'S INC: To Open Smaller Stores Outside Malls
------------------------------------------------
Cortnery Moore of Fox Business reports that after announcing it
would close around 125 stores in February, Macy's Inc. is going to
test their luck with smaller stores that are away from
underperforming malls.

This business switch up includes the company's two department store
chains, Macy's and Bloomingdales, according to Chairman and CEO
Jeff Gennette, who spoke with investors during its second-quarter
earnings call.

"Over the next two years, we will open several smaller format
off-mall Macy's and we will test a smaller format off-mall
Bloomingdale's," Gennette explained. "As we shared in February,
every off-mall store will have full service for pickup and returns.
We continue to believe that the best malls in the country will
thrive. However, we also know that Macy's and Bloomingdale's have
high potential off-mall and in smaller formats."

The test stores will reportedly be opened in Dallas, Atlanta and
Washington.

Macy's Inc.'s upcoming small-scale stores are only one part of a
business strategy it has named "Polaris." Other plans include
strengthening customer relationships and loyalty programs, curating
quality fashion and accelerating digital growth.

The company also plans on optimizing its store portfolio and
resetting its cost base as ways to conserve cash.

In June 2020, Macy's Inc. dodged bankruptcy after it secured around
$4.5 billion in financing. Competing department store chains such
as JCPenney and Neiman Marcus did not fare as well in light of
coronavirus-related store closures and filed for Chapter 11
bankruptcy in May.

For the second quarter of 2020, Macy's Inc. made nearly $3.56
billion in net sales, according to the company's reported earnings
results. During the same period last year, the company made nearly
$5.55 billion in net sales, though this was long before the
coronavirus pandemic.

When factoring in the first quarter of 2020 as well, Macy's made
closer to $6.58 billion.

Headquartered in Cincinnati, Ohio, Macy's, Incorporated, operates
department stores in the United States.


MAD MEN MARKETING: Hires Tax Advantage as Accountant
----------------------------------------------------
Mad Men Marketing, LLC, seeks authority from the U.S. Bankruptcy
Court for the Middle District of Florida to employ Lents and
Assocites, PLLC d/b/a Tax Advantage, as accountant to the Debtor.

Mad Men Marketing requires Tax Advantage to assist the Debtor in
filing tax returns.

Tax Advantage will be paid at the hourly rates of $275 to $350.

Tax Advantage will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Matthew Lents, managing partner of Lents and Assocites, PLLC d/b/a
Tax Advantage, 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.

Tax Advantage can be reached at:

     Matthew Lents
     LENTS AND ASSOCITES, PLLC
     D/B/A TAX ADVANTAGE
     1201 North Third Street
     Jacksonville Beach, FL 32250
     Tel: (904) 241-0050

                   About Mad Men Marketing

Mad Men Marketing, LLC, is a creative advertising agency
specializing in digital media, creative design and web
development.

Mad Men Marketing sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. M.D. Fla. Case No. 20-01889) on June 18,
2020.  At the time of the filing, the Debtor disclosed $234,594 in
assets and $1,174,970 in liabilities.  Judge Cynthia C. Jackson
oversees the case.  The Debtor tapped The Law Offices of Jason A.
Burgess, LLC, as its legal counsel.


MALLINCKRODT PLC: Buxton Seeks Appointment of Equity Committee
--------------------------------------------------------------
The Buxton Helmsley Group Inc. asked the U.S. Bankruptcy Court for
the District of Delaware to appoint a committee that will represent
equity holders in the Chapter 11 case of Mallinckrodt plc.

In a motion, Alexander Parker, senior managing director at Buxton
Helmsley, said that the Chapter 11 restructuring plans proposed by
Mallinckrodt's management "give no consideration to shareholder
interests despite an immense $1.5 billion in shareholders equity."

"These Chapter 11 restructuring plans proposed by management were
negotiated in the worst of faith, with absolutely no attempt or
intent to uphold their fiduciary duty to shareholders," Mr. Parker
said in the court filing.

"This company is far from hopelessly insolvent and that value
belongs to the shareholders whether management wants to liquidate
or reorganize their capital structuring," Mr. Parker said.  

Mr. Parker said that if creditors cannot agree to current
shareholders retaining the $1.5 billion in equity, the only other
fair resolution is to liquidate the company.

Mr. Parker holds office at:

     Alexander E. Parker
     The Buxton Helmsley Group Inc.
     1185 Avenue of the Americas, Floor 3
     New York, NY 10036-2600
     Phone: +1 (212) 561-5540
     Fax: +1 (212) 641-4349

                     About Mallinckdrodt

Mallinckrodt 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.  Visit http://www.mallinckrodt.comfor
more information.

On Oct. 12, 2020, Mallinckrodt plc and certain of its affiliates
sought Chapter 11 protection in Delaware in the U.S. (Bankr. D.
Del. Lead Case No. 20-12522) to seek approval of a restructuring
that would reduce total debt by $1.3 billion and resolve
opioid-related claims against them.

Mallinckrodt plc disclosed $9,584,626,122 in assets and
$8,647,811,427 in liabilities as of Sept. 25, 2020.

Judge John T. Dorsey oversees the cases.

The Debtors have tapped Latham & Watkins LLP and Richards, Layton &
Finger P.A. as their bankruptcy counsel; Arthur Cox and Wachtell,
Lipton, Rosen & Katz as corporate and finance counsel; Ropes & Gray
LLP as litigation counsel; Torys LLP as CCAA counsel; Guggenheim
Securities LLC as investment banker; and AlixPartners LLP as
restructuring advisor.  Prime Clerk, LLC is the claims agent.


MALLINCKRODT PLC: Cousins, Jones Represent OCM Luxembourg, Diameter
-------------------------------------------------------------------
Pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure,
the law firms of Jones Day and Cousins Law LLC submitted a verified
statement that they are representing OCM Luxembourg Opps Xb Sarl
and Diameter Master Fund LP in the Chapter 11 cases of Mallinckrodt
PLC, et al.

In November 2019, certain Clients retained Jones Day to advise them
in connection with a potential restructuring of the outstanding
debt obligations of the Debtors. Other Clients subsequently
retained Jones Day for the same purpose. The Clients retained
Cousins Law LLC for the same purpose in October 2020.

As of Oct. 28, 2020, each Clients and their disclosable economic
interests are:

OCM Luxembourg Opps Xb Sarl
c/o Oaktree Capital Management
333 South Grand Avenue, 28th Floor
Los Angeles, CA 90017

* Revolving Loans: $158,000,000
* 2024 Term Loan: $16,187,274.48
* 10% Second Lien Notes: 39,813,000
* 5.75% Senior Notes: $58,715,000
* 5.625% Senior Notes: $50,268,000
* 5.50% Senior Notes: $6,000,000

Diameter Master Fund LP
c/o Diameter Capital Partners LP
24 West 40th Street, 5th Floor
New York, NY 10018

* Revolving Loans: $52,000,000
* 5.75% Senior Notes: $65,241,000
* 5.625% Senior Notes: $16,500,000

Jones Day and Cousins Law LLC continue to represent each Client in
connection with the above-captioned chapter 11 cases. Jones Day and
Cousins Law LLC do not represent or purport to represent any other
person or entity with respect to these chapter 11 cases. Jones Day
and Cousins Law LLC do not represent the Clients as a "committee"
and do not undertake to represent the interests of, and are not a
fiduciary for, any other creditor, party in interest, or other
entity. In addition, no Client represents or purports to represent
any other entity in connection with these chapter 11 cases.

Upon information and belief formed after due inquiry, each of Jones
Day and Cousins Law LLC represents for itself, and not for the
other, that it does not hold any disclosable economic interest, as
defined in Bankruptcy Rule 2019(1)(1), in relation to the Debtors.

The undersigned verify that the foregoing is true and correct to
the best of their knowledge, as of the date of this Statement.

Nothing contained in this Statement is intended or shall be
construed to constitute: (a) a waiver or release of the rights of
any Client to have any final order entered by, or other exercise of
the judicial power of the United States performed by, an Article
III court; (b) a waiver or release of the rights of any Client to
have any and all final orders in any and all non-core matters
entered only after de novo review by a United States District
Judge; (c) consent to the jurisdiction of the Court over any
matter; (d) an election of remedy; (e) a waiver or release of any
rights any Client may have to a jury trial; (f) a waiver or release
of the right to move to withdraw the reference with respect to any
matter or proceeding that may be commenced in the chapter 11 cases;
or (g) a waiver or release of any other rights, claims, actions,
defenses, setoffs or recoupments to which any Client is or may be
entitled, in law or in equity, under any agreement or otherwise,
with all such rights, claims, actions, defenses, setoffs or
recoupments being expressly reserved.

Jones Day and Cousins Law LLC reserve the right to amend or
supplement this Statement in accordance with the requirements of
Bankruptcy Rule 2019 with any additional information that may
become available.

Counsel for the Clients identified on Exhibit A can be reached at:

          Scott D. Cousins, Esq.
          COUSINS LAW LLC
          Brandywine Plaza West
          1521 West Concord Pike,
          Suite 301
          Wilmington, DE 19803
          Tel: (302) 824-7081
          Fax: (302) 295-0331
          Email: scott.cousins@cousins-law.com

          Bruce S. Bennett, Esq.
          Joshua M. Mester
          James O. Johnston
          JONES DAY
          555 South Flower Street
          Fiftieth Floor
          Los Angeles, CA 90071
          Tel: (213) 489-3939
          Fax: (213) 243-2539
          Email: bbennett@jonesday.com
                 jmester@jonesday.com
                 jjohnston@jonesday.com

             - and -

          Chané Buck, Esq.
          JONES DAY
          4655 Executive Drive, Suite 1500
          San Diego, CA 92121
          Tel: (858) 314-1200
          Fax: (844) 345-3178
          Email: cbuck@jonesday.com

A copy of the Rule 2019 filing, downloaded from PacerMonitor.com,
is available at https://bit.ly/34JHSTE and https://bit.ly/3jKK8y8

                    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.

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.

On Oct. 12, 2020, Mallinckrodt plc and certain of its affiliates
sought Chapter 11 protection in Delaware in the U.S. (Bankr. D.
Del. Lead Case No. 20-12522) to seek approval of a restructuring
that would reduce total debt by $1.3 billion and resolve
opioid-related claims against the Company.

Mallinckrodt plc disclosed $9,584,626,122 in assets and
$8,647,811,427 in liabilities as of Sept. 25, 2020.

Latham & Watkins LLP, Ropes & Gray LLP and Wachtell, Lipton, Rosen
& Katz are serving as counsel to the Company, Guggenheim
Securities, LLC is serving as investment banker and AlixPartners
LLP is serving as restructuring advisor to Mallinckrodt.  Hogan
Lovells is serving as counsel with respect to the Acthar Gel
matter.  Prime Clerk LLC is the claims agent.


MALLINCKRODT PLC: U.S. Trustee Appoints Creditors' Committee
------------------------------------------------------------
The U.S. Trustee for Region 3 on Oct. 27, 2020, appointed a
committee to represent unsecured creditors in the Chapter 11 cases
of Mallinckrodt plc and its affiliates.

The committee members are:

     1. New PharmaTop LP
        Attn: Michael Eggenberg
        601 Lexington Ave, 54th Floor
        New York, NY 10022
        Phone: 212-739-6400
        Email: EggenbergM@OrbiMed.com

     2. Acument Global Technologies, Inc.
        Attn: Shelley Wagner
        502 Industry Drive
        Spencer, TN 38585
        Phone: 815-544-7550
        Fax: 815-544-7514
        Email: swagner@acument.com

     3. Commodore Bowens, Jr.
        Administrator for Estate of Commodore Bowens

     4. U.S. Bank Trust National Association
        Attn: Julie Becker
        60 Livingston Avenue, EP-MNWS1D
        St. Paul, MN 55107
        Phone: 651-249-0465
        Email: Julie.becker@usbank.com

     5. AFSCME District Council 47 Health and Welfare Fund
        Attn: Robert McAllister, Administrator
        1606 Walnut Street, Fifth Floor
        Philadelphia, PA 19103
        Phone: 215-893-3771
        Email: BMcAllister@DC47.org
  
Official creditors' committees serve as fiduciaries to the general
population of creditors they represent.  They may investigate the
debtor's business and financial affairs. Committees have the right
to employ legal counsel, accountants and financial advisors at a
debtor's expense.

                      About Mallinckdrodt

Mallinckrodt 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.  Visit http://www.mallinckrodt.comfor
more information.

On Oct. 12, 2020, Mallinckrodt plc and certain of its affiliates
sought Chapter 11 protection in Delaware in the U.S. (Bankr. D.
Del. Lead Case No. 20-12522) to seek approval of a restructuring
that would reduce total debt by $1.3 billion and resolve
opioid-related claims against them.

Mallinckrodt plc disclosed $9,584,626,122 in assets and
$8,647,811,427 in liabilities as of Sept. 25, 2020.

Judge John T. Dorsey oversees the cases.

The Debtors have tapped Latham & Watkins LLP and Richards, Layton &
Finger P.A. as their bankruptcy counsel; Arthur Cox and Wachtell,
Lipton, Rosen & Katz as corporate and finance counsel; Ropes & Gray
LLP as litigation counsel; Torys LLP as CCAA counsel; Guggenheim
Securities LLC as investment banker; and AlixPartners LLP as
restructuring advisor.  Prime Clerk, LLC is the claims agent.


MALLINCKRODT PLC: US Trustee Appoints Opioid Claimants' Committee
-----------------------------------------------------------------
The U.S. Trustee for Region 3 on Oct. 27, 2020, appointed a
committee that will represent opioid claimants in the Chapter 11
cases of Mallinckrodt plc and its affiliates.

The committee members are:

     1. Garrett Hade

     2. Lyda Haag

     3. Kathy Strain

     4. Brendan Berthold

     5. Life Point Health System
        Attn: Jennifer Peters
        330 Seven Springs Way
        Brentwood, TN 37027
        Phone: 615-920-7647
        Email: Jennifer.Peters@lpnt.net

     6. Blue Cross and Blue Shield Association
        Attn: Brendan Stuhan
        1310 G. Street NW
        Washington, D.C. 20005
        Phone: 202-942-1069
        Fax: 202-942-1143
        Email: Brendan.Stuhan@bcbsa.com

     7. Michael Masiowski, M.D.

                        About Mallinckdrodt

Mallinckrodt 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.  Visit http://www.mallinckrodt.comfor
more information.

On Oct. 12, 2020, Mallinckrodt plc and certain of its affiliates
sought Chapter 11 protection in Delaware in the U.S. (Bankr. D.
Del. Lead Case No. 20-12522) to seek approval of a restructuring
that would reduce total debt by $1.3 billion and resolve
opioid-related claims against them.

Mallinckrodt plc disclosed $9,584,626,122 in assets and
$8,647,811,427 in liabilities as of Sept. 25, 2020.

Judge John T. Dorsey oversees the cases.

The Debtors have tapped Latham & Watkins LLP and Richards, Layton &
Finger P.A. as their bankruptcy counsel; Arthur Cox and Wachtell,
Lipton, Rosen & Katz as corporate and finance counsel; Ropes & Gray
LLP as litigation counsel; Torys LLP as CCAA counsel; Guggenheim
Securities LLC as investment banker; and AlixPartners LLP as
restructuring advisor.  Prime Clerk, LLC is the claims agent.


MARTIN CONSTRUCTION: Hires Fritz Law Firm as Counsel
----------------------------------------------------
Martin Construction Inc. seeks authority from the U.S. Bankruptcy
Court for the Southern District of Alabama to employ Fritz Law
Firm, LLC, as counsel to the Debtor.

Martin Construction requires Fritz Law Firm to:

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

   b. prepare on behalf of the debtor-in-possession necessary
      applications, schedules, answers, orders, reports and other
      legal papers;

   c. represent the debtor-in-possession in all bankruptcy
      hearings;

   d. assist in the preparation of the Disclosure Statement and
      Chapter 11 Plan; and

   e. perform all other legal services for debtor-in-possession
      which may be necessary herein.

Fritz Law Firm will be paid at the hourly rate of $290.

On March 25, 2020, the Debtor paid Fritz Law Firm the amount of
$9,491.

Fritz Law Firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Michael A. Friz, Sr., partner of Fritz Law Firm, 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.

Fritz Law Firm can be reached at:

     Michael A. Friz, Sr., Esq.
     FRITZ LAW FIRM, LLC
     25 South Court St., Suite 200
     Montgomery, AL 36117
     Tel: (334) 230-9790
     Fax: (334) 230-9789

                    About Martin Construction

Martin Construction, Inc., a construction company in Atmore, Ala.,
filed its voluntary petition for relief under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Ala. Case No. 20-11020) on April 1,
2020.  Phillip Martin, authorized representative, signed the
petition. At the time of filing, the Debtor disclosed $372,937 in
assets and $1,018,996 in liabilities. Judge Jerry C. Oldshue
oversees the case.  Michael A. Fritz, Sr., Esq., at Fritz Law Firm,
LLC, represents Debtor as legal counsel.


MERITAGE COMPANIES: Hires Banker Residential as Realtor
-------------------------------------------------------
Meritage Companies, LLC, seeks authority from the U.S. Bankruptcy
Court for the District of Arizona to employ Coldwell Banker
Residential Brokerage-Ogden, as realtor to the Debtor.

Meritage Companies requires Banker Residential to assist in the
sale of the Debtor's property located in the Village at Prominence
Point, North Ogden, Utah 84414.

Banker Residential will be paid a commission of 6% of the sales
price.

Lori W. Lee, a partner of Coldwell Banker Residential
Brokerage-Ogden, 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.

Banker Residential can be reached at:

     Lori W. Lee
     COLDWELL BANKER RESIDENTIAL
     BROKERAGE-OGDEN
     2225 S Washington Blvd, Suite 100
     Ogden, UT 84401
     Tel: (801) 479-9300

                  About Meritage Companies

Meritage Companies, LLC, a land developer in Wasilla, Alaska,
sought protection under Chapter 11 of the Bankruptcy Code (Bankr.
D. Ariz. Case No. 20-07718) on June 30, 2020. The petition was
signed by Jack A. Barrett, manager. At the time of the filing, the
Debtor had estimated assets of less than $50,000 and liabilities of
between $10 million and $50 million. Judge Brenda K. Martin
oversees the case. Lamar D. Hawkins, Esq., at Guidant Law, PLC, is
the Debtor's legal counsel. David H. Bundy, Esq., of the Law Office
of David H. Bundy, PC is tapped as special counsel.



METRONOMIC HOLDINGS: Hires Weiss Serota as Counsel
--------------------------------------------------
Metronomic Holdings, LLC, seeks authority from the U.S. Bankruptcy
Court for the Southern District of Florida to employ Weiss Serota
Helfman Cole & Bierman, P.L., as counsel to the Debtor.

Metronomic Holdings requires Weiss Serota to assist and provide
legal services to the Debtor in the Chapter 11 bankruptcy
proceedings.

Weiss Serota will be paid at these hourly rates:

     Partners                    $450
     Associates             $275 to $375

Weiss Serota will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Aleida Martinez Molina, partner of Weiss Serota Helfman Cole &
Bierman, P.L., 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.

Weiss Serota can be reached at:

     Aleida Martinez Molina, Esq.
     WEISS SEROTA HELFMAN
     COLE & BIERMAN, P.L.
     2525 Ponce de Leon Boulevard, Suite 700
     Coral Gables, FL 33134
     Tel: (305) 854-0800
     Fax: (305) 854-2323
     E-mail: amartinez@wsh-law.com

                    About Metronomic Holdings

Metronomic Holdings, LLC, a Florida based real estate company that
owns and manages a portfolio of real estate assets in Miami-Dade
County, FL and McHenry County, IL.  Metronomic Holdings filed a
Chapter 11 petition (Bankr. S.D. Fla. Case No. 20-20310) on Sept.
23, 2020. The Debtor hired Aleida Martinez Molina as counsel.



MOMBO LLC: Sets Bidding Procedures for Substantially All Assets
---------------------------------------------------------------
Mombo, LLC, asks the U.S. Bankruptcy Court for the District of New
Hampshire to authorize the bidding procedures in connection with
sale of substantially all assets to Lent Investments, LLC for
$150,000, cash, free and clear of liens, claims, interests and
encumbrances, all in accordance with the terms and conditions of
their Asset Purchase and Sale Agreement and Assignment of Leases
dated Oct. 6, 2020, subject to overbid.

Prior to the bankruptcy filing, the Debtor owns and operates an
upscale restaurant known as "Mombo" located in the Strawberry Banke
section of Portsmouth, New Hampshire.  Mombos was one of the top 4
or 5 restaurants in Portsmouth.  It is attached to the Strawberry
Banke Museum and has parking.  So it is very desirable.  The Debtor
leases the real estate.  By all accounts, the Debtor's restaurant
was successful.  

When Covid hit, the restaurant, like all restaurants, struggled
with curbside delivery.  During that period, the Debtor faced a
fatal event, its owner, Thomas Perron died suddenly in June, 2020.
According to Perron's estate plan, the ownership of the restaurant
was held in an inter vivos trust.  Upon Perrons death, the trustee
became Attorney David Mullhern of Portsmouth, New Hampshire, who
has 100% authority to act on behalf of the Debtor.

The Trustee immediately secured the restaurant premises and used
the restaurant's cash on hand to maintain the premises while at the
same time soliciting buyers for the restaurant.

The Trustee has "put the word out" and has solicited 6 or 7
interested parties in the restaurant.  The Trustee did not obtain a
broker, but tried.  The broker would not get involved in the sale
of a closed restaurant.

The Debtor proposes to sell all of its assets consisting of the
Restaurant (but not the cash on hand) to the Buyer pursuant to the
P&S for $150,000.  It has drafted a comprehensive notice of sale
outlining the sale and its effect on each group of creditors.  The
Buyer will close the transactions contemplated by the Agreement 60
days from Oct. 6, 2020.

The Assets will be sold, "as is, where is," with no representations
or warranties of any kind except as otherwise provided in the P&S.
The Debtor asks that it be allowed to sell the Assets free and
clear of all liens, claims, encumbrances and interests, if any.
All liens, claims, encumbrances or interests, if any, will attach
to the sales proceeds.

Pursuant to Sale Motion, the Buyer specifically recognizes that the
Debtor intends to solicit counter-offers in the form of alternative
proposals to the Buyer.   In order to comply with the deadlines set
forth in the P&S and to facilitate the sale transaction on an
expedited basis (so any remaining going concern value of the Debtor
can be preserved, rather than destroyed) and in
order to avoid any further delay in the case, the Debtor asks that
the Court schedules an emergency hearing regarding the approval of
the Bid Procedures and Notice thereof.  At the Bid Motion Hearing,
it will ask the Court to approve the notice of the hearing and the
bidding procedures.

By the Motion, the Debtor asks approval of the Bid Procedures.  

In general, the Bid Procedures provide:

     a. Bids may be made to purchase substantially all assets and
assignment of executory contracts listed in the purchase agreement
in writing.

     b. Bids in written form only must be received on Nov. 11, 2020
at 5:00 p.m. (EST).

     c. To be a Qualified Bid, an offer must be: (a) definitive and
binding, not subject to due diligence or any conditions other than
Court Approval and (b) accompanied by evidence of financial
wherewithal of the proposed buyer to close acceptable to the
Debtor; (c) accompanied by a deposit in the amount of $10,000 in
immediately available funds; and accompanied by an asset purchase
agreement in a form provided by the Debtor.

     d. Bid increments will be $10,000.

     e. An auction of all Qualified Bidders will be conducted by
the Court or as otherwise ordered by the Court.  The Auction will
continue until the Debtor determines they have received the highest
and best offer.

Any successful over-bidder will need to pay a break-up fee to the
original Buyer of $10,000 consisting of the attorney's fees and
other out of pocket expenses incurred by the Buyer advancing the
purchase.

There are three levels of creditors in the case of which the Debtor
is aware at this time.  Consumer Deposit claims of $44,275, Taxing
Authorities claims of $2,500 and General unsecured claims $275,279.
Consumer Deposit claims less than $3,025 and tax claims are
paid on a priority basis.  These claims will be paid in accordance
with the priority scheme in the bankruptcy code after the closing
with the Buyer and upon confirmation of a liquidating plan by the
court.  Payment is expected within four months.

The Debtor asks an expedited hearing to set bid procedures and the
notice thereof in order to complete the Sale contemplated in the
Sale Motion.  

Based on the foregoing, the Debtor asks the Court to enter an
order: (i) establishing bidding procedures for the sale
contemplated in the Sale Motion; (ii) approving the procedures for
providing notice of the Sale and of the bidding procedures and the
form of Notice; (iii) approving a break-up fee in the form of
reimbursement of expenses; and (iv) grant such other and further
relief as the Court deems just and proper.

A hearing on the Motion is set for Nov. 18, 2020 at 9:00 a.m.  The
Objection Deadline is Nov. 11, 2020 at 5:00 p.m. (EST).

A copy of the Notice and the Bidding Procedures is available at
https://tinyurl.com/y32vrem5 from PacerMonitor.com free of charge.

Mombo, LLC sought Chapter 11 protection (Bankr. D. N.H. Case No.
20-10868) on Oct. 6, 2020.



MOTIV8 INVESTMENTS: Bagamaspad Buying Alhambra Property for $850K
-----------------------------------------------------------------
Motiv8 Investments, LLC, asks the U.S. Bankruptcy Court for the
Central District of California to authorize the sale of the real
property located at 1920 S. Date Avenue, Alhambra, California to
Annette Bagamaspad for $850,000, on the terms of their Agreement of
Purchase and Sale.

The property is a single-family property that is currently in
renovations.  As a result, the Debtor is not generating any income
from the property.  The Debtor's goal is to sell the property as
quickly as possible to minimize the time it must operate it,
without generating any income.

The Subject Property is encumbered by the secured lien, SRS Capital
Partners, LLC which holds the only deed of trust with an alleged
amount of $886,350 based on its Motion for Relief from Automatic
Stay.  The Los Angeles County Treasurer and Tax Collector holds a
secured lien in second priority in the approximate amount of
$45,318 based on delinquent property taxes for the 2017-2020 tax
installment.

The Debtor disputes and intended to file an objection to SRS
Capital's proof of claim of $866,350.  Per negotiations between SRS
Capital and the Debtor, SRS Capital will accept the amount of
$620,000 as a payment in full on its claim per the stipulation
negotiated between them.  After the payment of SRS Capital's claim,
the Los Angeles County Tax Collector's claim, and the associated
sale costs and expenses, the remaining sale proceeds will remain in
the Debtor's DIP account.  Thus, the Debtor asks approval to pay
the Los Angeles County Treasurer & Tax Collector, and the sale
costs and expenses.

The Debtor respectfully asks that it be authorized to pay the
following amounts:

     1. The broker's commission totaling 1% ($8,500) of the total
purchase price of $850,000; and

     2. Escrow charges, title, taxes, recordation charges,
pro-rations, adjustments, and additional disbursements in the
amount of $5,506.

On Sept. 30, 2020, the Debtor accepted the Buyer's offer to
purchase the Subject Property for the sum of $850,000.  The Buyer
is an individual unrelated to the Debtor.   The Buyer made a strong
offer in the amount of $850,000, which is the estimated fair market
value of the property after the renovations.  The Sale is not
subject to overbid.  It will result in proceeds sufficient to pay
all claims against the Property in full.

The Debtor proposes to sell the property free and clear of all
liens, claims, interests, with said liens, claims, and interest
attaching to the sale proceeds in the amounts set forth in the
motion, which will be paid in full out of escrow upon close of the
sale.  The property is being sold on an "as is, where is" basis,
with no warranties, recourse, contingencies, or representations of
any kind.  The sale will close within 30 days of entry of an order
approving the Motion, should such approval be obtained.

The Buyer purchased the Debtor's other property located at 6901
Cahuenga Park Trail, Los Angeles, California on Sept. 10, 2020.
After acquiring knowledge about the Debtor's interest in the sale
of the subject property, the Buyer made a strong offer for the
property.

The Debtor anticipates that the sale will generate proceeds
sufficient to pay all claims against the Property as stated.

Given the notice and full opportunity to object to the motion, the
Debtor believes that, unless there are objections to the motion
that are not consensually resolved, it is appropriate and good
cause exists for the Court to order that Rule 6004(h) is not
applicable, and that the property may be sold immediately.

A hearing on the Motion is set for Oct. 27, 2020 at 1:30 p.m.
Objections, if any, must be filed 14 days before the hearing.

A copy of the Agreement is available at
https://tinyurl.com/y4qqgqdp from PacerMonitor.com free of charge.

                     About Motiv8 Investments

Motiv8 Investments, LLC, is a privately-held company in Los
Angeles, California, which operates a business involved in buying
real properties and renovating and re-selling them.  Motiv8
Investments sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. C.D. Cal. Case No. 18-16732) on June 11, 2018.  In
the
petition signed by Sergio Moreno Morales, managing member, the
Debtor was estimated to have assets of less than $1 million to $10
million and liabilities of $1 million to $10 million.  Judge Neil
W. Bason presides over the case.  The Debtor tapped Tang &
Associates as its legal counsel.


NORDSTROM INC: DBRS Lowers Issuer Rating to BB, Trend Negative
--------------------------------------------------------------
DBRS Limited downgraded Nordstrom, Inc.'s Issuer Rating to BB from
BBB (low) and downgraded Nordstrom's Senior Unsecured Debt rating
to BB from BB (high), with a Recovery Rating of RR4. DBRS
Morningstar also maintained the Negative trends on both of the
ratings. Additionally, DBRS Morningstar assigned a rating of BB
(high) with Negative trend to the Company's Senior Secured Debt
facility, with a Recovery Rating of RR1. The rating downgrade
reflects a further significant weakening in the earnings profile
outlook, This view and the Negative trend are based on the
Company's deteriorating operating performance in the first half of
F2020 (H1 F2020) and uncertainty with respect to the economy going
forward, as well as the acceleration of structural trends including
evolving consumer buying behavior and an intensifying competitive
environment. An unfavorable evolution of any of these factors that
delays any meaningful recovery or further deteriorates earnings
profile and key metrics could result in further downgrades.

On April 22, 2020, DBRS Morningstar downgraded both Nordstrom's
Issuer Rating to BBB (low) from BBB (high) and the rating of its
Senior Unsecured Debt rating to BB (high) from BBB (high). At that
time, DBRS Morningstar also maintained the Negative trend on both
of the ratings due to Nordstrom's weaker-than-expected operating
performance during F2019 as well as DBRS Morningstar's concern of
potentially longer-lasting Coronavirus Disease (COVID-19)
pandemic-related effects on the economy and expectation of weak
customer sentiment, particularly for the discretionary and premium
products sold at Nordstrom's stores. At that time, DBRS Morningstar
noted that that the macroeconomic effects related to the
coronavirus pandemic and the competitive pressures in today's
evolving retail environment could weaken the Company's overall
credit risk profile beyond what would be acceptable for the BBB
(low) rating category.

Since then, Nordstrom has reported its H1 F2020 results and
earnings have deteriorated more than previously anticipated.
Revenue losses due to temporary stores closures for roughly half of
H1 F2020 in light of the coronavirus pandemic-related lockdowns,
subdued demand for high-end fashion products, and, to a much lesser
extent, the timing shift of Nordstrom's anniversary sale event from
Q2 2020 to Q3 2020 have driven material decline in Nordstrom's
revenues in H1 F2020, which declined by 45.6% year over year to
around $4.0 billion. The Company resorted to planned markdowns to
clear inventory during Q1 F2020, which, combined with operating
deleverage, resulted in negative EBITDA margins of -17.4% for H1
F2020 (compared with positive 8.4% for H1 F2019). As such, EBITDA
declined to negative $693 million in H1 F2020. With the decline in
earnings, cash flow from operations (before any changes in working
capital) was negative at approximately $338 million during H1
F2020. Though the Company took proactive measures to preserve
capital by curtailing capital expenditure, permanently closing a
number of less profitable stores, and suspending shareholder
returns, the balance sheet debt increased by approximately $1
billion during H1 F2020 to meet these cashflow shortfalls .

DBRS Morningstar believes that, in the near term, Nordstrom's
earnings will remain pressured due to remote work and stay-at-home
mandates, which have resulted in an accelerated casualization and
less desire for high-end fashion clothing and accessories. Even
after the restrictions are completely lifted, Nordstrom will be
extremely challenged to return to pre-pandemic sales levels, at
least in the near to medium term, due to a continued sales shift
away from higher-end more discretionary product categories and
brick and mortar channels amid a weaker macroeconomic environment.
Although the Company had commenced optimizing its physical and
digital assets by investing substantial amounts in improving its
digital capabilities, DBRS Morningstar expects the increased
digital sales volumes and earnings to be insufficient in offsetting
the declining returns from brick-and-mortar stores. As such, sales
and EBITDA levels are not expected to stabilize and increase
meaningfully toward $12 billion and $1 billion, respectively,
before F2023, levels that DBRS Morningstar considers integral
ingredients for the credit risk profile to stabilize within the BB
rating category.

DBRS Morningstar could change the trend to Stable if earnings
improve meaningfully and/or rapidly, and if recovery in key credit
metrics is on account of an improvement in the operating income
rather than debt reduction. Ratings could be downgraded further if
the recovery path to historic earnings levels is expected to be
slower and prolonged, given a weaker macroeconomic environment and
a structural shift in the consumer behavior.

The ratings continue to be supported by Nordstrom's
well-established reputation for customer service, size, and market
position as well as its increasingly diverse customer base and
retail channels. The ratings also consider Nordstrom's exposure to
intensifying competition, particularly from e-commerce, economic
cycles, and shifting consumer trends. DBRS Morningstar also notes
Nordstrom's adequate liquidity position with access to $1.3 billion
of cash and revolving credit facility should help the Company to
navigate this period of uncertainty.

Notes: All figures are in U.S. dollars unless otherwise noted.


NPHSS LLC: Unsecureds to Recover 50% Under Creditors' Plan
----------------------------------------------------------
Creditors Michael Luu (Claim 8) and Jeffrey Ma (Claim 9), together
with the signatory approval of creditors Christopher R. Donoghue
(Claim 2-1), Poh-Ngo Ang (Claim 3-1), and Ahmet & Birsen Gokcek
(Claim 4-1), representing themselves individually, as plan
co-proponents (collectively "Plan Co-Proponents") propose the Joint
Combined Plan of Reorganization and Disclosure Statement for debtor
NPHSS, LLC dated August 27, 2020.

The Debtor's real property commonly known as "5 Sand and Sea,
Carmel, CA 93921", A.P.N. 010-321-025-000 (Subject Property) will
be sold by or before the date of the confirmation hearing of the
Plan and through the sale of the Subject Property pay in full the
claims of Class 1A CALCAP Income Fund 1,LLC and Class 1B Monterey
County Tax Collector.  On August 24, the Court entered an Order
Granting Motion to Sell Real Property Free and Clear of Interest
Combined with Motion to Sell Real Property.

In the event that the sale of the Subject Property does not close
prior to the confirmation hearing, the Debtor shall sell the
Subject Property within six months of the Effective Date.

Class 2(a) General Unsecured Claims will receive a pro-rata share
of the net proceeds from the sale of the Subject Property, after
payment in full of allowed administrative claims, and the Class 1A
and Class 1B Claim. Said pro-rata share is estimated at 50%. The
actual distribution will vary depending on sale price of the
Property and date that sale closes, and whether or not capital
gains taxes or other taxes are owed. Pro-rata means the entire
amount of the fund divided by the entire amount owed to creditors
with allowed claims in this class.

There may be an additional distribution after the Plan Agent
determines whether to prosecute the litigation claims listed in
Part 6(f) infra.  The Plan Agent will distribute any proceeds from
said litigation claims pro retain in a subsequent disbursement, if
applicable.

After the Plan Agent has paid administrative claims and paid Class
1A, Class 1B, Class 2(a), Class 2(b) and Class 2(c), any and all
surplus assets in the Postconfirmation Estate shall be returned to
the Debtor’s equity interests, which Mr. Loffer represents as: i)
NP Sand and Sea Partners, LLC, non-managing member with 80%
interest; ii) Paul W. Hiss 2001 Trust, a non-managing member with a
9.3% interest; iii) and the Hiss/Katz Family Trust, a non-managing
member with a 10.7% interest.

On the Effective Date, all property of the estate and interests of
the Debtor will vest with the Plan Agent free and clear of all
claims and interests except as provided in this Plan.

A full-text copy of the Creditors' Combined Plan and Disclosure
Statement dated August 27, 2020, is available at
https://tinyurl.com/yyf2kh7z from PacerMonitor at no charge.

Counsel for Creditors Jeffrey Ma and Michael Luu:

      MATTHEW D. METZGER
      BELVEDERE LEGAL, PC
      1777 Borel Place, Ste 314
      San Mateo, CA 94402
      Tel:. (415) 513-5980
      Fax: (415) 513-5985
      E-mail: mmetzger@belvederelegal.com
              mmetzger@belvederelegal.com

                      About NPHSS LLC

NPHSS, LLC, is a single asset real estate debtor (as defined in 11
U.S.C. Section 101(51B)) based in Carmel by the Sea, Calif.

NPHSS filed a Chapter 11 petition (Bankr. N.D. Cal. Case No.
20-50296) on Feb. 19, 2020.  The petition was signed by Franklin
Davis Loffer, III, Debtor's managing member.  At the time of the
filing, the Debtor was estimated to have assets of between $1
million and $10 million and liabilities of the same range.  Judge
Stephen L. Johnson oversees the case.  Stanley Zlotoff, Esq., is
the Debtor's bankruptcy counsel.


NS8 INC: Court Gives Approval to Tap $4M of $10M DIP Loan
---------------------------------------------------------
Jeremy Hill of Bloomberg News reports that NS8 Inc. can tap $4
million of a $10 million bankruptcy loan as long as the lender
agrees to remove a prepayment penalty that U.S. Bankruptcy Judge
Christopher Sontchi called "ridiculous."

"I wouldn't allow my worst enemy to borrow money with a prepayment
penalty," Judge Sontchi said in a Thursday, October 29, 2020,
hearing

If NS8 repays up to $8 million before the debt is due, the loan
from Invictus Global Management calls for a fee equal to the amount
of interest that would've accrued over the full term.

Judge Sontchi also called the interest rates attached to the
financing "exorbitant."

                          About NS8 Inc.

Las Vegas-based NS8 Inc. -- https://www.ns8.com/ -- is a developer
of a comprehensive fraud prevention platform that combines
behavioral analytics, real-time scoring, and global monitoring to
help businesses minimize risk.

NS8 Inc. sought Chapter 11 protection (Bankr. D. Del. Case No.
20-12702) on Oct. 27, 2020.  The petition was signed by Daniel P.
Wikel, the chief restructuring officer.

The Debtor was estimated to have $10 million to $50 million in
assets and $100 million to $500 million in liabilities.

The Hon. Christopher S. Sontchi is the case judge.

The Debtor tapped BLANK ROME LLP and COOLEY LLP as counsel; and FTI
CONSULTING, INC. as financial advisor.  STRETTO is the claims
agent.


P&L DEVELOPMENT: Moody's Rates $415MM Senior Secured Notes 'B3'
---------------------------------------------------------------
Moody's Investors Service, assigned a B3 rating to P&L Development,
LLC's proposed $415 million senior secured notes. At the same time
Moody's affirmed PLD's Corporate Family Rating at B3 and its
Probability of Default Rating at B3-PD. Moody's also affirmed the
B3 rating for the company's existing first lien term loan due June
2025 and will withdraw the rating upon close of this transaction.
The rating outlook is stable.

Proceeds from the proposed notes will be used to refinance the
company's existing term loan and repay revolver borrowings. As part
of this transaction PLD will acquire Avema Pharma Solutions, and
Avema will be a wholly owned subsidiary of PLD. Avema is a contract
development and manufacturing organization that will enhance PLD's
drug development capabilities. Proceeds from the proposed notes
will also be used to repay the outstanding term loan at Avema
Pharma Solutions, repay outstanding subordinated share holder notes
and pay fees and expenses. PLD previously owned Avema until the
entity was spun-off to shareholders in 2013, and Avema is currently
owned by the Singer family. PLD plans to increase its assets-based
lending facility to $85 million from $60 million, which Moody's
expects to be undrawn at close.

Moody's recognizes that this transaction will have a positive
effect on liquidity, reflecting the elimination of both the term
loan amortization and financial maintenance covenants. However, the
debt financed acquisition of Avema is credit negative because the
rating agency expects the transaction will increase PLD's debt and
leverage since Avema generates minimal operating earnings and cash
flow.

The affirmation of the B3 CFR reflects Moody's expectation that
PLD's debt-to-EBITDA leverage will still decline meaningfully to a
6.5x-7.0x range over the next 12 to 18 months through new product
launches and ramp of up recently launched product. Moody's also
expects PLD to maintain a strong position in store branded over the
counter (OTC) products. While there is some seasonality related to
its cough, cold and allergy products, demand for PLD's OTC products
is fundamentally stable.

The following is a summary of Moody's rating actions:

P&L Development, LLC

Ratings assigned:

$415 million senior secured notes due 2025 at B3 (LGD4)

Ratings affirmed:

Corporate Family Rating at B3

Probability of Default at B3-PD

GTD Senior Secured 1st Lien Term Loan due 2025 at B3 (LGD4)

The outlook is stable.

RATINGS RATIONALE

PLD's B3 CFR reflects the company's high financial leverage of
about 10.0x (including $84 million of puttable preferred stock as
debt). The rating also reflects the company's more moderate scale,
with revenues of about $441 million, as compared to other larger
and better capitalized competitors. PLD has limited geographic
diversity, with most of its revenues derived from US markets, where
the competitive landscape for store brand over-the-counter products
("OTC") is intense. Partially offsetting these risks are PLD's
attractive growth prospects for nicotine replacement therapy
products and other OTC marketed products in an environment where
health care costs will continue to be a focus for consumers as they
attempt to fight the coronavirus.

PLD is addressing its operating issues and Moody's estimates that
PLD's leverage will improve over the next year through EBITDA
growth. Earnings growth will benefit from the company's expanded
marketed products, examples of which include new offerings from
NRT, Docosonal and Voltaren product lines. In addition, the
coronavirus pandemic is having a positive demand impact on certain
of PLD's products such as Mucus Relief and ibuprofen that are
experiencing higher volumes. New customer wins such as a contract
to fill over 50 million bottles of a national brand hand sanitizer
through 2021 will also contribute to higher earnings. The company's
OTC business will also benefit from higher demand for isopropyl
alcohol, analgesics and cough and cold products over the next 12
months because consumers are focused on cleanliness and health.
Further, demand for cheaper, store-brand products, tends to
increase in economic downturns versus national brands when
consumers become more cost conscious.

PLD will have adequate liquidity in the year ahead supported by
minimal balance sheet cash and modest free cash flow. Liquidity
will also benefit from the larger proposed ABL facility.

The coronavirus outbreak, the government measures put in place to
contain it, and the weak global economic outlook continue to
disrupt economies and credit markets across sectors and regions.
Moody's analysis has considered the effect on the performance of
consumer sectors from the current weak U.S. economic activity and a
gradual recovery for the coming months. Although an economic
recovery is underway, it is tenuous and its continuation will be
closely tied to containment of the virus. As a result, the degree
of uncertainty around its forecasts is unusually high. Moody's
regards the coronavirus outbreak as a social risk under its ESG
framework, given the substantial implications for public health and
safety.

PLD's financial policies are aggressive including high leverage and
debt used for acquisitions. However, Moody's believes the company
has a long-term investment focus under majority family ownership.

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

The stable outlook reflects Moody's view that product launches and
new customer wins will improve earnings and reduce leverage over
the next 12 months. The stable outlook also reflects Moody's
expectation that PLD will generate consistently positive free cash
flow over the next 12 months.

PLD's ratings could be downgraded if the company experiences
significant operational disruption, if financial performance does
not meaningfully improve, or if free cash flow remains weak or
negative. The ratings could also be downgraded if the company's
financial policy becomes increasingly aggressive, including
additional debt funded acquisitions. Moody's could also downgrade
ratings if PLD's liquidity deteriorates or if the company is unable
to reduce and sustain debt to EBITDA (including puttable preferred
stock) below 7.5x over the next year.

The rating could be upgraded if PLD effectively manages its growth
strategy, meaningfully improves operating performance, and
generates consistent and comfortably positive free cash flow. An
upgrade would also require debt to EBITDA (including the puttable
preferred stock) be sustained below 6.5x.

The principal methodology used in these ratings was Consumer
Packaged Goods Methodology published in February 2020.

Headquartered in Westbury, NY, PLD manufactures, packages, and
distributes over-the-counter private label products across multiple
categories. The company provides contract manufacturing and
contract packaging services to major OTC and nutritional companies
in the United States. PLD is majority owned by the Singer family
with Steven Inc., a long-term equity holder of PLD, as a minority
shareholder. The company generates annual revenues of about $441
million.


PACIFIC DRILLING: Case Summary & 30 Largest Unsecured Creditors
---------------------------------------------------------------
Lead Debtor: Pacific Drilling S.A.
             8-10 Avenue de la Garre, L-1610
             Luxembourg, Luxembourg

Business Description:     Pacific Drilling -- pacificdrilling.com
                          -- is an international offshore drilling
                          contractor whose primary business is to
                          contract its fleet of seven high-
                          specification drillships to drill wells
                          for clients in the global offshore oil
                          exploration and production industry.

Chapter 11 Petition Date: October 30, 2020

Court:                    United States Bankruptcy Court
                          Southern District of Texas

Nineteen affiliates that concurrently filed voluntary petitions
seeking relief under Chapter 11 of the Bankruptcy Code:

    Debtor                                               Case No.
    ------                                               --------
    Pacific Drilling S.A. (Lead Debtor)                  20-35212
    Pacific Drillship Holding (Gilbratar) Limited        20-35196
    Pacific Drilling, Inc.                               20-35202
    Pacific Drilling Finance S.A.R.L.                    20-35195
    Pacific Drillship S.A.R.L.                           20-35204
    Pacific Drilling Limited                             20-35197
    Pacific Sharav S.A.R.L.                              20-35210
    Pacific Drilling VII Limited                         20-35201
    Pacific Drilling V Limited                           20-35200
    Pacific Scirocco Ltd.                                20-35207
    Pacific Bora Ltd.                                    20-35209
    Pacific Mistral Ltd.                                 20-35205
    Pacific Santa Ana Limited                            20-35206
    Pacific Drilling Operations Limited                  20-35198
    Pacific Drilling Operations, Inc.                    20-35199
    Pacific Drilling, LLC                                20-35193
    Pacific Drillship Nigeria Limited                    20-35203
    Pacific Sharav Korlatolt Felelossegu Tarsasag        20-35208
    Pacific Drilling Company Limited                     20-35211

Judge:                    Hon. Marvin Isgur

Debtors' Counsel:         George A. Davis, Esq.
                          Suzzanne Uhland, Esq.
                          Adam S. Ravin, Esq.
                          Christopher J. Kochman, Esq.
                          LATHAM & WATKINS LLP
                          885 Third Avenue
                          New York, New York 10022
                          Tel: (212) 906-1200
                          Fax: (212) 751-4864
                          Email: george.davis@lw.com
                                 suzzanne.uhland@lw.com
                                 adam.ravin@lw.com
                                 chris.kochman@lw.com

                           - and -

                          Asif Attarwala, Esq.
                          LATHAM & WATKINS LLP
                          330 North Wabash Avenue, Suite 2800
                          Chicago, Illinois 60611
                          Tel: (312) 876-7700
                          Fax: (312) 993-9767
                          Email: asif.attarwala@lw.com

Debtors'
Local
Counsel:                  Joseph E. Bain, Esq.
                          Cindy Muller, Esq.
                          Gabrielle A. Ramirez, Esq.
                          JONES WALKER LLP
                          811 Main St, Suite 2900
                          Houston, Texas 77002
                          Tel: (713) 437-1800
                          Fax: (713) 437-1810
                          Email: jbain@joneswalker.com
                                 cmuller@joneswalker.com
                                 gramirez@joneswalker.com

                            - and -

                          Elizabeth J. Futrell, Esq.
                          JONES WALKER LLP
                          201 St. Charles Avenue, 49th Floor
                          New Orleans, Louisiana 70170
                          Tel: (504) 582-8368
                          Fax: (504) 589-8368
                          Email: efutrell@joneswalker.com
Debtors'
Investment
Banker:                   GREENHILL & CO.

Debtors'
Restructuring
Advisor:                  ALIXPARTNERS, LLP

Debtors'
Notice,
Claims, &
Balloting
Agent:                    PRIME CLERK LLC
https://cases.primeclerk.com/pacificdrilling2020/Home-DocketInfo

Total Assets as of June 30, 2020: $2,166,943,000

Total Debts as of June 30, 2020: $1,142,431,000

The petitions were signed by James W. Harris, chief financial
officer and senior vice president of Pacific Drilling S.A.,.

A copy of Pacific Drilling S.A.'s petition is available for free
at PacerMonitor.com at:

https://www.pacermonitor.com/view/ETVNJUA/Pacific_Drilling_SA__txsbke-20-35212__0001.0.pdf?mcid=tGE4TAMA

Consolidated List of Debtors' 30 Largest Unsecured Creditors:

   Entity                          Nature of Claim    Claim Amount
   ------                          ---------------    ------------
1. National Oilwell Varco Service       Trade              $72,704
5100 N. Sam Houston
Parkway W.
Houston, TX 77086
Rafael Maldonaldo
In charge of Field Service
Tel: 281-569-8486
Email: Rafael.Maldonado@nov.com

2. Hiller Offshore Services             Trade              $41,691
209 Stanton, Road
Broussard, LA 70518
James Guidry
Tel: 337-837-3388
Email: jguidry@hillercompanies.com

3. National Oilwell Varco HRC           Trade              $33,372
5100 North Sam Houston
Pkwy West
Houston, TX 77086
Dave Douglas
In charge of Repair Centers
Tel: 281-569-8426
Email: Dave.Douglas@nov.com

4. Man Energy Solutions SE              Trade              $30,801
Stadtbachstrabe 1
Augsburg 86153
Victor Bittner
Tel: 954-960-6658
Email: victor.bittner@man-es.com

5. 3C Metal USA Inc.                    Trade              $21,047
Dejan Zigic
5100 Westheimer Road, Suite 595
Houston, TX 77056
Dejan Zigic
Tel: 971 (0)4 8830682
Email: Email: dzigic@3cmetalme.com

6. Fugro Norway AS                      Trade              $20,250
PO Box 490
Oslo 0213 03
Norway
Bjorne Inge Nilsen
Tel: 47 21 50 14 00
Mobile: 47 90519880
Email: b.i.nilsen@fugro.com

7. GAC Shipping (S.A.) (Pty) Ltd.       Trade              $17,547
2nd Floor, 176 Sir Lowry Road
Cape Town 8001 ZA
Ryan Maher
Tel: 27 (0) 83 635 8120
Email: ryan.maher@gac.com

8. Charter Supply Company               Trade              $16,109
8100 Ambassador Caffery Pkwy.
Broussard, LA 70518
Tod Murphey
Tel: 281 572 3712
Email: tmurphey@chartersupply.com

9. Kongsberg Maritime, Inc.             Trade              $15,948
5373 W. Sam Houston
Parkway N Suite 200
Houston, TX 77581
Kevin Donovan
Tel: 504-303-5255
Email: Kevin.Donovan@km.kongsberg.com

10. OMA Logistics Senegal SARL          Trade              $14,120
  
Avenue A, Fadiga, Immeuble
Lahad Mbake, Mezzanine
Block A, BP14215, Dakar
14215
Dakar
Dakar
Senegal
Vincent Bayiha Kodock
Phone: 221 33 822 85 37
Mob: +221 77 762 18 72
Email: vincent.bayiha-kodock@omagroup.com

11. Dickerman Overseas                  Trade              $12,463

Contracting Co L
Unit 3, Adam Business
Centre, Henso
Northants NN 168PX
Andrew Sharp
Tel: 44 (0)1536 525131
Email: Operations@dickermangroup.com

12. Tanks-A-Lot, Inc.                   Trade              $11,616
7723 Hwy 182 East
Morgan City, LA 70380
Mark Blanchard
Tel:: 985-714-2933
Email: MBlanchard@tanksalotinc.com
Scot Robinson
Tel: 985-385-1913
Email: srobison@tanksalotinc.net

13. Viking Life-Saving Equipment        Trade              $10,992
11255 NW 106 St. ST. 1
Miami, FL 33178
Todd Jarrell
Tel: 832-982-7611
Email: tpj@viking-life.com

14. Gulf Copper & Manufacturing         Trade              $10,655
Corp
7200 Proctor Street Extension
Port Arthur, TX 77642
Tim Gemmill
Tel: 409-641-2507
Cell: 832-551-6801
Email: Tim.Gemmill@gulfcopper.com

15. Ameriforge Corporation              Trade              $10,342
945 Bunker Hill Rd, Ste 5020
Houston, TX 77024
Billy Walker
Tel: 713 429 8318
Email: wwalker@afglobalcorp.com

16. Seven Seas Maritime                 Trade               $8,712
Services Spain
C/. El Guinchete s/n (Recinto Portu
Las Palmas de Gran Canaria 35008
Miquel Pena
Tel: 34 633 018214
Email: miquel.pena@sevenseasgroup.com

17. Bureau Veritas North                Trade               $8,555
America, Inc.
16800 Greenspoint Dr, Suite 300-S
Houston, TX 77060
Michael Wilkins
Tel: 281.671.5627
Email: Michael.Wilkins@bureauveritas.com

18. Tri-State Environmental, LLC        Trade               $8,388
P.O. Box 403
Petal, MS 39465
J. Terry Dykes
Tel: 601-689-0755
Email: tdykes@tristateoffshore.com

19. Pace Analytical Services, LLC       Trade               $7,417
1800 Elm Street SE
Minneapolis, MN 55414
Jennv DeLamar-Snvpes
Tel: 704-617-2289
Email: Jenny.Snipes@pacelabs.com

20. Dintec Co., Ltd                     Trade               $6,436
Dintec Bldg, 1144-10,
Choryang 3
Busan 444-444
Y.H. Jung
Phone: 82-(0)51-664-1076 (DID)
Mobile: 82-10-3828-1796
Email: yonghoon.jung@dintec.co.kr

21. Wellbore Integrity Solutions, LLC   Trade               $6,278
1310 Rankin Road, Building 18
Houston, TX 77073
Raymond Bradbury
Tel: 985-303-6399
Email: Raymond.Bradberry@wellboreinte
grity.com

22. ABS Americas                        Trade               $6,184
16855 Northchase Drive
Houston, TX 77060
Kendra Huhn
Tel: 346-268-0435
Email: khuhn@eagle.org



23. Kongsberg Seatex AS                 Trade               $6,122
Pirsenteret, Trondheim 7462
Joran Herfjord
Phone: 47 73 58 76 00
Mobile: 47 92 29 34 01)
Email: Kevin.Donovan@km.kongsberg.com

24. Service Medical International       Trade               $5,877
Limited
KM 12 ABA/PH Expressway,
INTELS CAM
Port Harcourt, NI, 99999
Paula Colombo
Tel: 832 289 2284
Email: Paula.Colombo@internationalsos.c om

25. Subseaquence Limited                Trade               $5,875
A103 First Floor, Fuel Tank
London SE8 3DX
Paul Freeland
Tel: 0044 203 637 035
Email: Paul.freeland@subseaquence.com

26. Gulfstream Services, Inc            Trade               $5,697
P.O. Box 734693
Dallas, TX 75373
Hank LaFosse
Phone: (985) 868-0303
Mobile: (337) 526-4114
Email: hlafosse@gulfstreamservices.com

27. Clover Tool Co. Inc                Trade                $5,328
6903 FM 359 South
Fulshear, TX 77441
Tabatha Rongey
Tel: 281-561-5600
Email: clover@clovertool.com

28. ScanTech Offshore Limited          Trade                $5,308
ScanTech House,Morton Peto Road
Norfolk, NR310LT
Ryan Shearwood
Tel: 44 0 7850424887
   
29. Brandt, A division of National     Trade                $5,032
PO Box 201198
Dallax, TX 75320
Larry Bertrand
Tel: 337-374-1703
Email: Larry.Bertrand@nov.com
Paxton Latiolais
Tel: 337-374-1701
Email: Paxton.Latiolais@nov.com

30. National Oilwell Varco, LP         Trade                $5,021
10353 Richmond Avenue
Houston, TX 77042
Tim McGarity
Tel: 713-306-7792
Email: Tim.McGarity@nov.com


PANIOLO CABLE: Govt. Fights Sandwich Bid for $200M in FCC Money
---------------------------------------------------------------
Law360 reports that the U.S. government urged the Federal Circuit
not to send back to trial court a bankrupt Hawaiian telecom's bid
to recover $200 million in funds pulled by the FCC after the
company's founder was convicted of tax code violations.

Sandwich Isles Communications Inc. wants a panel of circuit judges
to decide that its suit belongs in the U.S. Court of Federal
Claims, which hears disputes such as takings by the government from
private parties. The telecom believes it can win back millions of
dollars from the Federal Communications Commission's Universal
Service Fund, if allowed to make its case in the lower court.

                  About Paniolo Cable Company

Paniolo Cable Company, LLC, owns a fiber optic network connecting
five major Hawaiian Islands.  Affiliate Sandwich Isles
Communications operates telecom service on Hawaiian homesteads
under an exclusive contract with DHHL awarded in 1995.
Waimana Enterprises is the parent company and founded by Albert
Hee.

Paniolo Cable Company filed a Chapter 11 petition (Bankr. D. Hawaii
Case No. 18-01319) on Nov. 13, 2018, and was represented by Andrew
V. Beaman, Esq., in Honolulu, Hawaii.

Michael Katzenstein was appointed as the Chapter 11 Trustee of
Paniolo Cable Company.  Ducera Partners LLC is the Trustee's
investment banker.

                          *    *     *

The Trustee appointed in U.S. Bankruptcy Court to oversee Paniolo
has a $257 million judgment against Sandwich Isles on behalf of
Paniolo’s creditors.  In March 2020, Paniolo's trustee was
awarded ownership of all Sandwich Isles assets.


PAUL T. VON NESSI: Selling West Orange Property for $415K
---------------------------------------------------------
Paul T. Von Nessi asks the U.S. Bankruptcy Court for the District
of New Jersey to authorize the sale of the real property located at
10 Glenside Drive, West Orange, New Jersey to Elizabeth FineSmith
and Ruan van der Merwe for $415,000.

The Debtor is the sole owner of the Property.  The Property is an
approximately 1,1992 square-foot single family home, with three
bedrooms, three full bathrooms, and built-in two car garage.  It
has a scheduled value of $380,000.  

The Property is encumbered by a first mortgage lien held by
Santander Bank, N.A. in the approximate amount of $117,310 (Proof
of Claim No 3 in Claims Registry), and a subordinate Home Equity
Line of Credit held by Wells Fargo in the approximate amount of
$41,000 (Proof of Claim No. 5 in Claims Registry).  The Property is
further encumbered by a federal tax lien in favor of the Internal
Revenue Service in the amount of $2,182,479, of which only
$1,828,088 is secured by all of the Debtor's right, title, and
interest to property ("IRS Lien") (Proof of Claim No. 1 in Claims
Registry).

Robin Seidon from West of Hudson Real Estate was appointed as
Realtor to assist the Debtor with the sale of the Property.  The
Property was listed for sale on July 9, 2020 at an initial listing
price of $489,000.  On Aug. 13, 2020, the listing price of the
Property was reduced to $399,000, as per the CMA based on current
market conditions.  The Realtor conducted about twenty showings of
the Property in the span of three days, receiving six offers
ranging from $295,000 to $415,000.  The highest offer the Realtor
received was for $415,000, which was made by the Purchasers.

Subject to Court authorization, the Debtor has entered into a Real
Estate Contract for Sale to sell the Property to the Buyers for a
purchase price of $415,000.  There are no other agreements between
the Debtor and the Purchasers other than what was agreed to in the
Purchase Agreement.  The Purchase Agreement and the sale of the
Property is contingent upon and subject to the Court's approval.  


Furthermore, the Debtor's Counsel is engaging in communications
with the counsel for the IRS to obtain permission to sell the
Property free and clear of the IRS Lien.  The Debtor's Counsel
believes that he will be able to obtain consent from the IRS to
sell the Property free and clear of the IRS Lien prior to the
hearing.

Liens that may encumber the Property include: (i) any and all
unpaid property taxes; (ii) any and all unpaid municipal charges
for water and/or sewer; (iii) federal tax lien in favor of the IRS
in the amount of $2,182,479, of which only $1,828,088 is secured by
all of the Debtor's right, title, and interest to property (Proof
of Claim No. 1); (iv) first Mortgage lien owed to Santander in the
amount of approximately $117,310 (Proof of Claim No 3 in Claims
Registry); and (v) Subordinate Home Equity Line of Credit owed to
Wells Fargo in the amount of approximately $41,000 (Proof of Claim
No. 5 in Claims Registry).

The pertinent terms of the Purchase Agreement are:

     a. The Purchase Agreement provides for a purchase price of
$415,000 with an initial deposit of $12,500, a mortgage contingency
of $390,000, and the balance of the Purchase Price in the sum of
$12,500 being due at closing.

     b. The proposed Purchasers of the Property are Elizabeth
FineSmith and Ruan van der Merwe.

     c. The Property is being sold in a strictly "As Is" condition,
and the Debtor will not be making any repairs.  

     d. The closing is anticipated to occur on Nov. 2, 2020, after
the sale hearing held before the Court approving the sale of the
Property to the Purchaser unless otherwise extended by written
agreement of the parties.

     e. The Purchase Agreement and sale is contingent upon approval
of the Court.  The Debtor will proceed to ask such approval or
dismissal immediately upon completion of attorney review.   

     f. The Township of West Orange requires that the house be
sanded down to bare wood and painted in a professional manner.  The
contract is subject to the Purchasers' agreement to the provision
and to comply with same within a period of time specified by the
Township.  The provision will survive closing.

As per the listing agreement, the Realtor will receive a total
commission of 6% of the purchase price, estimated at $24,900, which
will be paid at closing.  The net sales proceeds are being realized
only because of the Realtor's efforts.  But for the efforts of the
Realtor the senior secured creditors would not have realized any
sale proceeds until an eventual foreclosure sale, and subordinate
secured creditors may have not realized any recovery. Thus, the
Court should allow the Realtor's fees to be paid from the sale
proceeds at closing and in accordance with D.N.J. LBR 2016-1 and
D.N.J. LBR 6004-5(a) and (b).

The Debtor believes the proposed sale provides the highest and best
value to the bankruptcy estate.  

The Debtor asserts that given the goal by the parties in the case
to sell the Property and bring the case to conclusion in the short
term, there is cause to waive the stay and it asks that upon
approval of the sale, the 14-day period pursuant to Rule 6004(h) be
waived by the Court.

A hearing on the Motion is set for Oct. 27, 2020 at 11:00 a.m.

A copy of the Agreement is available at
https://tinyurl.com/y2bn63tu from PacerMonitor.com free of charge.


Counsel for Debtor:

         David L. Stevens, Esq.
         SCURA, WIGFIELD HEYER,
         STEVENS & CAMMAROTA, LLP
         1599 Hamburg Turnpike
         Wayne, NJ 07470
         Telephone: (973) 696-8391
         E-mail: Dstevens@scura.com  

Paul T. Von Nessi sought Chapter 11 protection (Bankr. D. N.J. Case
No. 19-12372-SLM) on Feb. 5, 2019.  On Dec. 26, 2019, the Court
appointed Robin Seidon from West of Hudson Real Estate as Realtor.


PENSKE AUTOMOTIVE: S&P Alters Outlook to Stable, Affirms 'BB' ICR
-----------------------------------------------------------------
S&P Global Ratings revised its outlook on Penske Automotive Group
Inc. to stable from negative and affirmed its 'BB' issuer credit
rating.

S&P said, "The stable outlook incorporates our expectation the
company will maintain its debt-to-EBITDA ratio below 5x and free
operating cash flow (FOCF)-to-debt ratio above 5% in the next 12
months."

"We see demand for new and used vehicles, as well as parts and
services, continuing to return to pre-COVID-19 levels.   Penske's
revenue in the third quarter was roughly flat as the decline in new
and used vehicle unit sales was offset by strong vehicle pricing
for both new and used vehicles. For this reason, as well as strong
performance in the finance and insurance division, gross margins
are trending significantly higher than last year. Consequently, we
revised our outlook to stable because we believe the company will
maintain its debt-to-EBITDA ratio below 5x and FOCF-to-debt ratio
above 5% in the next 12 months."

"The stable outlook incorporates our expectation the company will
maintain its debt-to-EBITDA ratio below 5.0x and FOCF)-to-debt
ratio above 5% over the next 12 months."

"We could raise the rating if Penske continues to show consistent
operational execution and benefits from the flexibility of its
diverse auto and truck retail model, despite the current pandemic,
the fallout from Brexit, or any other macroeconomic headwinds. We
would also need to believe the company would employ a moderate
financial risk policy, balancing shareholder expectations for
revenue growth with the credit quality consistent with a higher
rating. We could also raise the rating if debt leverage falls below
4x and FOCF as a percentage of debt remains at least 10%."

"We could lower the rating on Penske if its leverage stays above 5x
for an extended period or if the company's FOCF-to-debt ratio were
sustained at less than 5%. This will likely be caused by the
pandemic-induced economic recession being longer or worse than
expected, or because the company uses the current downturn to
pursue opportunistic acquisitions."


PG&E CORP: CEO Resigns After Helping Company Steer Bankruptcy
-------------------------------------------------------------
Mark Chediak of Bloomberg News reports that PG&E Corp. Chief
Financial Officer Jason Wells said he will resign from the
California energy giant  after helping steer the company through
the biggest utility bankruptcy in U.S. history.  Wells is leaving
PG&E to become executive vice president and chief financial officer
at Houston-based CenterPoint Energy Inc., effective Sept. 28,
according to a statement from Centerpoint. Wells had served at PG&E
for 13 years.

                         About PG&E Corp.

PG&E Corporation (NYSE: PCG) -- http://www.pgecorp.com/-- is a
Fortune 200 energy-based holding company, headquartered in San
Francisco.  It is the parent company of Pacific Gas and Electric
Company, an energy company that serves 16 million Californians
across a 70,000-square-mile service area in Northern and Central
California.

As of Sept. 30, 2018, the Debtors, on a consolidated basis, had
reported $71.4 billion in assets on a book value basis and $51.7
billion in liabilities on a book value basis.

PG&E Corp. and Pacific Gas employ approximately 24,000 regular
employees, approximately 20 of whom are employed by PG&E Corp. Of
Pacific Gas' regular employees, approximately 15,000 are covered by
collective bargaining agreements with local chapters of three labor
unions: (i) the International Brotherhood of Electrical Workers;
(ii) the Engineers and Scientists of California; and (iii) the
Service Employees International Union.

On Jan. 29, 2019, PG&E Corp. and its primary operating subsidiary,
Pacific Gas and Electric Company, filed voluntary Chapter 11
petitions (Bankr. N.D. Cal. Lead Case No. 19-30088).

PG&E Corporation and its regulated utility subsidiary, Pacific Gas
and Electric Company, said they are facing extraordinary challenges
relating to a series of catastrophic wildfires that occurred in
Northern California in 2017 and 2018. The utility said it faces an
estimated $30 billion in potential liability damages from
California's deadliest wildfires of 2017 and 2018.

Weil, Gotshal & Manges LLP and Cravath, Swaine & Moore LLP are
serving as PG&E's legal counsel, Lazard is serving as its
investment banker and AlixPartners, LLP is serving as the
restructuring advisor to PG&E. Prime Clerk LLC is the claims and
noticing agent.

In order to help support the Company through the reorganization
process, PG&E has appointed James A. Mesterharm, a managing
director at AlixPartners, LLP, and an authorized representative of
AP Services, LLC, to serve as Chief Restructuring Officer. In
addition, PG&E appointed John Boken also a Managing Director at
AlixPartners and an authorized representative of APS, to serve as
Deputy Chief Restructuring Officer. Mr. Mesterharm, Mr. Boken and
their colleagues at AlixPartners will continue to assist PG&E with
the reorganization process and related  activities. Morrison &
Foerster LLP, as special regulatory counsel. Munger Tolles & Olson
LLP, as special counsel.

The Office of the U.S. Trustee appointed an official committee of
creditors on Feb. 12, 2019.  The Committee retained Milbank LLP as
counsel; FTI Consulting, Inc., as financial advisor; Centerview
Partners LLC as investment banker; and Epiq Corporate
Restructuring, LLC as claims and noticing agent.

On Feb. 15, 2019, the U.S. trustee appointed an official committee
of tort claimants.  The tort claimants' committee is represented by
Baker & Hostetler LLP.


PG&E CORP: Nears Win of Chapter 11 Appeal After No-Show of Lawyer
-----------------------------------------------------------------
Law360 reports that a California federal judge appeared open to
tossing an investment firm's $500 million appeal challenging how
Pacific Gas and Electric Co. must calculate post-bankruptcy
interest on unimpaired claims after counsel for the firm didn't
show up for a phone hearing Thursday, Oct. 29, 2020, saying he
takes the point that the parties agreed to settle the dispute.

U.S. District Judge Haywood S. Gilliam Jr. went forward with the
scheduled hearing even though Canyon Capital Advisors LLC's counsel
never showed up for it.  The judge questioned whether he has
jurisdictional authority to hear the appeal, which PG&E argues was
filed too late.

                        About PG&E Corp.

PG&E Corporation (NYSE: PCG) -- http://www.pgecorp.com/-- is a
Fortune 200 energy-based holding company, headquartered in San
Francisco. It is the parent company of Pacific Gas and Electric
Company, an energy company that serves 16 million Californians
across a 70,000-square-mile service area in Northern and Central
California.

As of Sept. 30, 2018, the Debtors, on a consolidated basis, had
reported $71.4 billion in assets on a book value basis and $51.7
billion in liabilities on a book value basis.

PG&E Corp. and Pacific Gas employ approximately 24,000 regular
employees, approximately 20 of whom are employed by PG&E Corp. Of
Pacific Gas' regular employees, approximately 15,000 are covered by
collective bargaining agreements with local chapters of three labor
unions: (i) the International Brotherhood of Electrical Workers;
(ii) the Engineers and Scientists of California; and (iii) the
Service Employees International Union.

On Jan. 29, 2019, PG&E Corp. and its primary operating subsidiary,
Pacific Gas and Electric Company, filed voluntary Chapter 11
petitions (Bankr. N.D. Cal. Lead Case No. 19-30088).

PG&E Corporation and its regulated utility subsidiary, Pacific Gas
and Electric Company, said they are facing extraordinary challenges
relating to a series of catastrophic wildfires that occurred in
Northern California in 2017 and 2018. The utility said it faces an
estimated $30 billion in potential liability damages from
California's deadliest wildfires of 2017 and 2018.

Weil, Gotshal & Manges LLP and Cravath, Swaine & Moore LLP are
serving as PG&E's legal counsel, Lazard is serving as its
investment banker and AlixPartners, LLP is serving as the
restructuring advisor to PG&E. Prime Clerk LLC is the claims and
noticing agent.

In order to help support the Company through the reorganization
process, PG&E has appointed James A. Mesterharm, a managing
director at AlixPartners, LLP, and an authorized representative of
AP Services, LLC, to serve as Chief Restructuring Officer. In
addition, PG&E appointed John Boken also a Managing Director at
AlixPartners and an authorized representative of APS, to serve as
Deputy Chief Restructuring Officer. Mr. Mesterharm, Mr. Boken and
their colleagues at AlixPartners will continue to assist PG&E with
the reorganization process and related  activities. Morrison &
Foerster LLP, as special regulatory counsel. Munger Tolles & Olson
LLP, as special counsel.

The Office of the U.S. Trustee appointed an official committee of
creditors on Feb. 12, 2019. The Committee retained Milbank LLP as
counsel; FTI Consulting, Inc., as financial advisor; Centerview
Partners LLC as investment banker; and Epiq Corporate
Restructuring, LLC as claims and noticing agent.

On Feb. 15, 2019, the U.S. trustee appointed an official committee
of tort claimants. The tort claimants' committee is represented by
Baker & Hostetler LLP.

PG&E Corporation and Pacific Gas and Electric Company announced
July 1, 2020, that PG&E has emerged from Chapter 11, successfully
completing its restructuring process and implementing PG&E's Plan
of Reorganization that was confirmed by the Bankruptcy Court on
June 20, 2020.


PIERCE CONTRACTORS: No Plan Filed; Status Conference on Nov. 12
---------------------------------------------------------------
Judge M. Elaine Hammond of the U.S. Bankruptcy Court for the
Northern District of California entered an order within which the
deadline for debtor Pierce Contractors, Inc., to file a Chapter 11
plan and disclosure statement is Oct. 29, 2020.

According to the docket posted at PacerMonitor.com, the Debtor did
not file a plan and disclosure statement by the Oct. 29 deadline.

The next scheduled status conference in this case will be held on
November 12, 2020, at 11:00 a.m.

                  About Pierce Contractors

Pierce Contractors, Inc., sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Cal. Case No. 20-50182) on Jan. 31,
2020, listing under $1 million on both assets and liabilities.
William Winters, Esq., is serving as the Debtor's counsel.


PYROLUX USA INDIANA: Files for Chapter 7 Liquidation
----------------------------------------------------
Jeremy Hill of Bloomberg News reports that Pyrolyx USA Indiana LLC,
a U.S. unit of Pyrolyx AG, filed for Chapter 7 protection, a
liquidation bankruptcy.

The company lists assets and liabilities of at least $50 million
each.

In April 2020, said it couldn't make loan payments backing
municipal bonds sold in 2017 after it shut its plant in Terre Haute
because of the coronavirus outbreak.

                 About Pyrolux USA Indiana LLC

Pyrolux USA Indiana LLC is a company that turns used tires into
carbon black, which it calls an "essential ingredient" in tires,
non-tire rubber goods, and specialty uses.

Terre Haute, Indiana-based Pyrolux USA Indiana filed for Chapter 7
bankruptcy liquidation (Bankr. D. Del Case No. 20-12711) on Oct.
28, 2020.

The Debtor's counsel:

         Michael G. Busenkell
         Gellert Scali Busenkell & Brown, LLC
         Tel: 302-425-5812
         E-mail: mbusenkell@gsbblaw.com


QUANTUM CORP: Incurs $4.6 Million Net Loss in Second Quarter
------------------------------------------------------------
Quantum Corporation filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing a net loss
of $4.59 million on $85.82 million of total revenue for the three
months ended Sept. 30, 2020, compared to a net loss of $2.31
million on $105.79 million of total revenue for the three months
ended
Sept. 30, 2019.

For the six months ended Sept. 30, 2020, the Company reported a net
loss of $15.33 million on $159.13 million of total revenue compared
to a net loss of $6.12 million on $211.42 million of total revenue
for the same period during the prior year.

As of Sept. 30, 2020, the Company had $173.28 million in total
assets, $369.52 million in total liabilities, and a total
stockholders' deficit of $196.24 million.

Cash, cash equivalents, and restricted cash of $18.3 million as of
Sept. 30, 2020, compared to $12.3 million as of March 31, 2020.
Both balances include $5.0 million in restricted cash required
under the Company's Credit Agreements, and $0.8 million of
short-term restricted cash.

Outstanding debt as of Sept. 30,2020 on a gross basis was $195.2
million and on a net basis was $172.4 million after netting $22.8
million in unamortized debt issuance costs.  This compares to
$167.8 million of outstanding debt as of March 31, 2020 on a gross
basis, and on a net basis was $154.1 million after netting $13.7
million in unamortized debt issuance costs.

Total interest expense was $7.6 million for the three months ended
Sept. 30, 2020.

Jamie Lerner, chairman and CEO, Quantum commented, "Our results in
the second fiscal quarter exceeded our forecasted outlook,
benefitting from the strength of our Federal government business,
and solid sales execution.  We are seeing a gradual and steady
recovery across most of our vertical markets and key geographies,
and simultaneously maintaining discipline with our expenses while
increasing our investment in research and development to support
the introduction of new software products.  The 300 basis point
sequential improvement in gross margins during the quarter,
bolstered our Adjusted EBITDA to $8.9 million, meaningfully
exceeding our guidance.  Our pipeline remains strong, and we
continue to identify and pursue significant opportunities to help
customers manage video and other forms of unstructured data across

its lifecycle."

Mr. Lerner continued, "At our analyst and investor day in August,
we discussed Quantum's transformation over the next few years to a
more software-defined and recurring revenue driven model that will
drive margin enhancement and expansion of our addressable market.
On November 10, 2020 we take the first step in this regard, with
the launch of next generation data management software to classify,
visualize, and orchestrate data, both on premise and in the cloud,
along with new ways to automate data movement in the highly
anticipated release of StorNext 7.  These new solutions will enable
our customers to gain visibility into their data, derive new
insights, and unlock more business value from this data.  All of
these new offerings will be available on a subscription basis,
driving more predictable revenue streams and improved margins for
us in the future while increasing our addressable market in the
near-term."

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

https://www.sec.gov/ix?doc=/Archives/edgar/data/709283/000070928320000036/qtm-20200930.htm

                       About Quantum Corp.

Based in San Jose, California, Quantum Corp. (NYSE:QTM) --
http://www.quantum.com-- provides technology and services that
stores and manages video and video-like data delivering the
industry's top streaming performance for video and rich media
applications, along with low cost, high density massive-scale data
protection and archive systems.  The Company helps customers
capture, create and share digital data and preserve and protect it
for decades.

Quantum Corporation reported a net loss of $5.21 million for the
year ended March 31, 2020, a net loss of $42.80 million for the
year ended March 31, 2019, and a net loss of $43.35 million for the
year ended March 31, 2018.  As of June 30, 2020, the Company had
$164.94 million in total assets, $360.44 million in total
liabilities, and a total stockholders' deficit of $195.50 million.


REXFORD INDUSTRIAL: S&P Assigns 'BB+' Rating on Preferred Stock
---------------------------------------------------------------
S&P Global Ratings assigned its 'BBB' issuer credit rating to
Rexford Industrial Realty Inc. and its operating partnership,
Rexford Industrial Realty L.P. (collectively Rexford). At the same
time, S&P assigned its 'BB+' issue-level rating to the company's
outstanding publicly traded preferred stock.

S&P expects Rexford's high-performing and well-occupied portfolio
of infill Southern California assets with above-average rents to
benefit from continued strong industrial demand.

Rexford is the only industrial REIT solely focused on infill
properties in Southern California. This is one of the most
fragmented yet best-performing industrial markets in the U.S.
because its benefits from strong demand and high barriers to entry,
which restricts new supply. Rexford's portfolio largely comprises
non-specialized industrial spaces that benefit from strong
last-mile logistics demand. This includes warehouses, distribution
centers, and light manufacturing, which comprised about 86% of its
properties as of June 30, 2020. As of Sept. 30, Los Angeles
contributed the greatest proportion of its total in-place
annualized base rent (ABR, 55.4%), followed by San Diego (12.5%),
San Bernardino (11.9%), Orange County (11.8%), and Ventura (8.4%).

Rexford's strategy involves focusing on the acquisition of
multi-tenant and single-tenant midsize properties in prime infill
markets with growth potential rather than ground up development.
The company's value-add asset management strategy involves
repositioning somewhat older and less-efficient industrial
properties by modernizing facilities to increase their cash flow
potential and converting single-tenant properties to multi-tenant
properties to achieve higher rents per square foot on smaller
industrial spaces. It also includes repositioning outdated
industrial properties to enhance their functionality (by improving
loading access, etc.) and ensure compliance with modern building
codes (such as for fire safety systems, etc.). Rexford aims to
reposition its properties with fairly generic but updated features
to attract a broad tenant base and fill any vacancies quickly at
above-average rental rates, which enhances its internal growth.

S&P favors Rexford's strategy given the scarcity of land and
lengthy entitlement processes in its key markets. Moreover, the
existing industrial stock in Southern California is older, with an
average property age in infill markets between 25 and 30 years.
This means many properties require significant capital expenditure
(capex) and may not meet current industry standards, therefore
requiring updates to appeal to modern tenants (and garner higher
rents). The company's infill focus and value-add repositioning
efforts have supported strong internal growth as reflected in its
average comparable new and renewal rental spreads, which were up
26.8% on a generally accepted accounting principles basis and 17.4%
on a cash basis in the third quarter of 2020. Moreover,
approximately 95% of leases have annual rent escalators in the 3%
area, which provides good embedded growth.

Therefore, Rexford generates above-average rents, both when
compared with its industrial peers operating in other markets and
the average industrial rents in its submarkets. As of Sept. 30,
2020, the company's weighted-average in-place ABR per square foot
(sf) was $10.19, with San Diego garnering the highest in-place
rents ($12.46/sf), followed by Orange County ($10.32/sf) and Los
Angeles ($10.16/sf). In addition, overall rent was about 60% higher
than the industrial REIT peer average.

That being said, Rexford's portfolio includes some smaller, older
properties (as larger spaces are harder to come by in infill
markets) with less desirable attributes versus new properties
(especially when first acquired), although the company improves
functionality over time. Moreover, its geographic concentration is
elevated relative to other rated industrial REITs. This could lead
to operating performance volatility if the market's industrial
fundamentals deteriorate, such as if the recession lasts for a
prolonged period or there is a second and severe wave of COVID-19,
causing lockdowns that disproportionately affect Southern
California. However, S&P believes this risk is largely offset by
its submarket quality because Rexford's infill markets have very
high barriers to entry (even compared with other markets in
California), low vacancy rates, and strong tailwinds for growth.
This is supported by elevated demand for last-mile e-commerce
deliveries and Southern California's advantageous location near
ports, which has led to sustained positive rents and increased
tenant demand despite the recession.

S&P expects Rexford's operating performance to be resilient despite
headwinds from COVID-19 and the recession, which hindered
second-quarter 2020 rent collection.

Prior to the pandemic, Rexford's same-property (SP) cash net
operating income (NOI) growth was strong, falling in the 7%-13%
area in 2017-2019 (including repositioning). This compares
favorably with the rated peer average of about 5% for First
Industrial Realty Trust Inc., Duke Realty Corp., and Prologis Inc.
during the same years. However, Rexford's second-quarter 2020 SP
cash NOI growth underperformed that of its peers (negative 2.3%)
due to its greater exposure to pandemic-associated rent disruption.
This was largely attributable to the company's concentration in
California, where local ordinances were passed to limit commercial
tenant evictions and allow tenants to unilaterally defer rent.
Therefore, Rexford's cash rent collection in the second quarter was
only 87.6% (significantly below S&P's industrial REIT average).
However, its collections have since improved to 96.8% in the third
quarter, with cash SP NOI growth of 5% (3.6% for the nine months
ended Sept. 30, 2020, both figures excluding repositioning). S&P
expects Rexford's collections to remain healthy in future quarters
(provided the lockdown measures intended to slow the spread of
COVID-19 are not reinstated) such that its SP NOI increases even
with potential modest declines in occupancy if tenants experience
pressure from the recession, with the majority of rent deferrals
expected to be collected in 2020. As of Sept. 30, 2020, Rexford's
stabilized SP portfolio occupancy was 98.4%, with total occupancy
of 97.9% excluding value-add repositioning and 97.2% including it.

Rexford has good tenant and industry diversity with historically
high tenant retention, which should help offset the potential
downside from its somewhat weaker tenant credit quality.

Rexford is well diversified by tenant given that none contributed
more than 2.8% of its ABR as of Sept. 30, 2020, and its top 10
clients only contributed 11.5%. Moreover, S&P also views the
company as adequately diversified by industry with transportation
and warehousing contributing the largest portion of ABR (22%),
followed by wholesale trade (21%) and manufacturing (19%). However,
S&P believes tenant credit quality is somewhat weaker than that of
the rating agency's other rated industrial REITs, such as Prologis
and Duke Realty, with a largely unrated tenant base (and the
notable absence of some larger, high-quality industrial tenants
such as Amazon from its top tenant list). However, S&P thinks the
company's focus on small to midsize single- and multi-tenant
properties caters more to smaller corporations than large
multinationals. (As of Dec. 31, 2019, Rexford's average lease size
was 18,000 square feet, with 44% of total leased square footage
consisting of leases that were less than 50,000 square feet each.)

In S&P's view, lease maturities are manageable for the remainder of
2020, with 2.6% expiring as of Sept. 30, 2020. However, lease
expirations are somewhat elevated in 2021 (18.7%) and 2022 (14.8%)
as of Sept. 30, 2020 (versus the rated peer average of about 13%
annually in both 2021 and 2022 for First Industrial, Duke Realty,
and Prologis). S&P believes there is embedded rent growth potential
because the leases expiring in 2020 and 2021 are approximately 15%
below market value. In recent quarters, Rexford signed about half
of its new leases with e-commerce tenants, a trend S&P expects to
continue given the increase in online sales amid the pandemic.

"We expect Rexford to report strong growth in Southern California
via acquisitions and value-added repositioning over the next two
years, funded in a largely leverage-neutral manner," S&P said.

With an undepreciated real estate asset base of approximately $4.1
billion and 232 properties as of Sept. 30, 2020 (up from $1.2
billion in 2015), Rexford's portfolio has expanded substantially
over the past few years. The company leverages its relationships
with real estate agents, brokers, and smaller landlords in its
niche market to source a large number of off-market or lightly
marketed acquisition opportunities with growth potential at
favorable capitalization rates. This also allows it to gain
incremental value by refreshing and modernizing the properties.
Through its in-house system, Rexford tracks current and future
acquisition prospects and targets opportunities in its markets,
such as generational ownership shifts, sale/lease-back prospects,
landlords facing financial strain, etc.

Since its IPO, Rexford has generated more than 70% of its
acquisitions through off-market or lightly marketed transactions.
Because of this, Rexford has industrial market share of 1.5% in
Southern California (the highest among REITs). S&P expects
continued market share growth over the next several years as it
capitalizes on value-add acquisition opportunities, which could
increase amid the recession or as "mom and pop" landlords age and
look to sell their properties. Rexford has completed or expects to
complete over $675 million in acquisitions in the fourth quarter of
2020 and the first quarter of 2021.

S&P expects Rexford to fund acquisitions and
repositioning/development activity with a mix of free cash flow,
proceeds from asset sales, equity, and some incremental debt such
that its credit metrics remain in line with the rating agency's
expectations over the next two years. This includes adjusted debt
to EBITDA (which incorporates over $300 million in preferred stock
and units) in the low- to mid-6x area. S&P expects some volatility
in its trailing-12-months leverage calculation based on the timing
of its portfolio activity and equity issuance. S&P expects
Rexford's debt to EBITDA to increase modestly as of year-end 2020
due to about $675 million in acquisitions either under contract or
expected to close in the near term. However, the company issued a
fairly large amount of equity to prefund this growth (causing its
leverage to decline to 5.0x for the 12 months ended June 30, 2020).
S&P expects it to deleverage as it generates EBITDA from the
acquired properties over the next year.

"The stable outlook reflects our expectation for solid operating
performance over the next two years, supported by highly productive
assets with strong re-leasing spreads, healthy occupancy, and good
potential for embedded growth despite headwinds from the pandemic
and recession. We expect the fundamentals in the Southern
California infill industrial market to remain strong given our
expectation for sustained e-commerce and last-mile delivery
demand," S&P said.

"Moreover, we expect Rexford to fund its acquisitions, value-add
repositioning, and development with a combination of free cash
flow, proceeds from asset sales, equity, and some incremental debt
such that it operates with adjusted debt to EBITDA in the low- to
mid-6x area and FCC improving to the mid-4x area or better," the
rating agency said.

S&P would consider lowering its rating on Rexford if:

-- Its debt-funded acquisitions or development activity increase
materially beyond S&P's expectations such that its S&P Global
Ratings-adjusted debt to EBITDA rises above 7x on a sustained
basis; or

-- Its operating performance deteriorates and compares unfavorably
with that of peers for a prolonged period, perhaps due to the
severity of the economic recession or stemming from a second wave
of the COVID-19 pandemic that causes material tenant distress and a
significant decline in occupancy, cash rent collections, and SP NOI
growth.

S&P would consider raising its rating on Rexford if:

-- It materially improves its scale to a level more comparable
with those of higher-rated peers while maintaining a superior
operating performance, including above-average rents, strong
re-leasing spreads, and high portfolio occupancy; or

-- The company operates with a more conservative balance sheet,
including S&P Global Ratings-adjusted debt to EBITDA declining
below 4.5x on a sustained basis.


RTI HOLDING: Hires Epiq as Claims and Noticing Agent
----------------------------------------------------
RTI Holding Company, LLC, and its debtor-affiliates seek authority
from the U.S. Bankruptcy Court for the District of Delaware to
employ Epiq Corporate Restructuring, LLC, as claims and noticing
agent to the Debtors.

RTI Holding, requires Epiq to:

   a. prepare and serve required notices and documents in the
      Chapter 11 Cases in accordance with the Bankruptcy Code and
      the Bankruptcy Rules in the form and manner directed by the
      Debtors and/or the Court, including (a) notice of the
      commencement of the Chapter 11 Cases and the initial
      meeting of creditors under section 341(a) of the Bankruptcy
      Code (b) notice of any claims bar date, (c) notices of
      transfers of claims, (d) notices of objections to claims
      and objections to transfers of claims, (e) notices of any
      hearings on a disclosure statement and confirmation of the
      Debtors' plan or plans of reorganization, including under
      Bankruptcy Rule 3017(d), (f) notice of the effective date
      of any plan, and (g) all other notices, orders, pleadings,
      publications, and other documents as the Debtors or Court
      may deem necessary or appropriate for an orderly
      administration of the Chapter 11 Cases;

   b. maintain an official copy of the Debtors' schedules of
      assets and liabilities and statement of financial affairs
      (collectively, "Schedules"), listing the Debtors' known
      creditors and the amounts owed thereto;

   c. maintain (a) a list of all potential creditors, equity
      holders, and other parties-in-interest and (b) a "core"
      mailing list consisting of all parties described in
      Bankruptcy Rules 2002(i), (j), and (k) and those parties
      that have filed a notice of appearance pursuant to
      Bankruptcy Rule 9010; update and make said lists available
      upon request by a party-in-interest or the Clerk;

   d. furnish a notice to all potential creditors of the last
      date for filing proofs of claim and a form for filing a
      proof of claim, after such notice and form are approved by
      the Court, and notify said potential creditors of the
      existence, amount, and classification of their respective
      claims as set forth in the Schedules, which may be effected
      by inclusion of such information (or the lack thereof, in
      cases where the Schedules indicate no debt due to the
      subject party) on a customized proof of claim form
      provided to potential creditors;

   e. maintain a post office box or address for the purpose of
      receiving claims and returned mail, and process all mail
      received;

   f. for all notices, motions, orders, or other pleadings or
      documents served, prepare and file or cause to be filed
      with the Clerk an affidavit or certificate of service
      within seven (7) business days of service which includes
      (a) either a copy of the notice served or the docket
      number(s) and title(s) of the pleading(s) served, (b) a
      list of persons to whom it was mailed (in alphabetical
      order) with their addresses, (c) the manner of service, and
      (d) the date served;

   g. process all proofs of claim received, including those
      received by the Clerk, and check said processing for
      accuracy, and maintain the original proofs of claim in a
      secure area;

   h. provide an electronic interface for filing proofs of claim;

   i. maintain the official claims register for each Debtor (the
      "Claims Registers") on behalf of the Clerk; upon the
      Clerk's request, provide the Clerk with certified,
      duplicate unofficial Claims Registers; and specify in the
      Claims  Registers the following information for each claim
      docketed: (a) the claim number assigned; (b) the date
      received; (c) the name and address of the claimant and
      agent, if applicable, who filed the claim; (d) the amount
      asserted; (e) the asserted classification(s) of the claim
      (e.g., secured, unsecured, priority, etc.); (f) the
      applicable Debtor; and (g) any disposition of the claim;

   j. provide public access to the Claims Registers, including
      complete proofs of claim with attachments, if any, without
      charge;

   k. implement necessary security measures to ensure the
      completeness and integrity of the Claims Registers and the
      safekeeping of the original claims;

   l. record all transfers of claims and provide any notices of
      such transfers as required by Bankruptcy Rule 3001(e);

   m. relocate, by messenger or overnight delivery, all of the
      court-filed proofs of claim to the offices of Epiq, not
      less than weekly;

   n. upon completion of the docketing process for all claims
      received to date for each case, turn over to the Clerk
      copies of the Claims Registers for the Clerk's review
      (upon the Clerk's request);

   o. monitor the Court's docket for all notices of appearance,
      address changes, and claims-related pleadings and orders
      filed and make necessary notations on and/or changes to the
      claims register and any service or mailing lists, including
      to identify and eliminate duplicative names and addresses
      from such lists;

   p. identify and correct any incomplete or incorrect addresses
      in any mailing or service lists;

   q. assist in the dissemination of information to the public
      and respond to requests for administrative information
      regarding the Chapter 11 Cases as directed by the Debtors
      or the Court, including through the use of a case website
      and/or call center;

   r. monitor the Court's docket in these chapter 11 cases and,
      when filings are made in error or containing errors, alert
      the filing party of such error and work with them to
      correct any such error;

   s. if the Chapter 11 Cases are converted to cases under
      chapter 7 of the Bankruptcy Code, contact the Clerk's
      office within three (3) days of notice to Epiq of entry of
      the order converting the cases;

   t. thirty (30) days prior to the close of these Chapter 11
      Cases, to the extent practicable, request that the Debtors
      submit to the Court a proposed Order dismissing Epiq as
      Claims and Noticing Agent and terminating its services in
      such capacity upon completion of its duties and
      responsibilities and upon the closing of the Chapter 11
      Cases;

   u. within seven (7) days of notice to Epiq of entry of an
      order closing the Chapter 11 Cases, provide to the Court
      the final version of the Claims Registers as of the date
      immediately before the close of the Chapter 11 Cases; and

   v. at the close of these chapter 11 cases, (i) box and
      transport all original documents, in proper format, as
      provided by the Clerk's office, to (A) the Philadelphia
      Federal  Records  Center,  14700  Townsend  Road,
      Philadelphia, PA 19154-1096 or (B) any other location
      requested by the Clerk's office; and (ii) docket a
      completed SF-135 Form indicating the accession and location
      numbers of the archived claims.

Epiq will be paid at these hourly rates:

     Executives                                       No Charge
     Executive Vice President, Solicitation             $215
     Solicitation Consultant                            $195
     Consultants/Directors/Vice Presidents           $165-$195
     Case Managers                                    $85-$165
     IT/Programming                                   $65-$85
     Clerical/Administrative Support                  $35-$55

Epiq will be paid a retainer in the amount of $25,000.

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

Kathryn Tran, a partner at Epiq Corporate Restructuring, 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.

Epiq can be reached at:

     Kathryn Tran
     EPIQ CORPORATE RESTRUCTURING, LLC
     777 Third Avenue, 12th Floor
     New York, NY 10017
     Tel: (212) 225-9200

                    About RTI Holding Company

RTI Holding Company, LLC and its affiliates develop, operate and
franchise casual dining restaurants in the United States, Guam, and
five foreign countries under the Ruby Tuesday brand. The
company-owned and operated restaurants (i.e. non-franchise) are
concentrated primarily in the Southeast, Northeast, Mid-Atlantic
and Midwest regions of the United States.

On Oct. 7, 2020, RTI Holding Company and its affiliates sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Del.
Lead Case No. 20-12456). At the time of the filing, the Debtors
disclosed assets of between $100 million and $500 million and
liabilities of the same range.

Judge John T. Dorsey oversees the cases.

Pachulski Stang Ziehl & Jones LLP and CR3 Partners LLC serve as the
Debtors' legal counsel and financial advisor respectively. Epiq
Corporate Restructuring LLC is the claims, noticing and
solicitation agent and administrative advisor.


RUBEN J. RODRIGUEZ: Selling Fort Lupton Property to E&J for $1.1M
-----------------------------------------------------------------
Ruben J. Rodriguez asks the U.S. Bankruptcy Court for the District
of Colorado to authorize the sale of the real property and
improvements located at 13015 County Road 16, Fort Lupton,
Colorado, to E&J Rocky Mountain Properties, LLC for $1.1 million,
pursuant to their Contract to Buy and Sell Real Estate (Commercial)
dated Sept. 28, 2020.

The Debtor is an individual residing in Fort Lupton, Colorado.  He
owns and leases several non-residential real properties: The Fort
Lupton Property and the property located at 125 8th Avenue,
Greeley, Colorado.  During the course of his Chapter 11 case, the
Debtor was leasing the Fort Lupton Property to a commercial tenant.
However, the lease of the Fort Lupton Property recently terminated
by its own terms, and he has elected to sell the Fort Lupton
Property.

On Sept. 3, 2020, the Debtor filed his Amended Plan of
Reorganization.  The Amended Plan is currently pending before the
Court, and a hearing on confirmation of the Amended Plan is set for
Oct. 14, 2020.  As set forth in the Amended Plan and the Amended
Disclosure Statement to Accompany the Amended Plan, the sale of the
Fort Lupton Property is the main source of funding payments to
creditors.  

The Debtor's Broker, REFCO Realty, Inc., has been actively engaged
in marketing the Fort Lupton Property for sale, including listing
the Fort Lupton Property on LoopNet and showing the Fort Lupton
Property to interested parties.  In connection with the marketing
of the Fort Lupton Property, the Debtor has entered into the
Contract.  The Sale Contract provides for the sale of the Fort
Lupton Property to E&J Rocky Mountain Properties, LLC, or such
entity as to whom the Sale Contract may be assigned for the
purposes of completing a 1031 exchange for a purchase price of $1.1
million.  

The Sale Contract also provides as follows: (i) $50,000 earnest
money deposit to be paid on Sept. 30, 2020; (ii) payment of the
remaining $1.05 million at closing; (iii) Court approval of the
sale by Oct. 30, 2020; (iv) Inspection to be completed by No. 2,
2020;  (v) closing to be completed on Nov. 12, 2020, subject to
Court approval; and (vi) in the event the sale is not approved by
the Court and terminates, the Debtor will be obligated to reimburse
the Buyer up to $5,000 for actual out of pocket due diligence
costs, included but not limited to surveys, reports, and
inspections.

The sale to the Buyer is a cash transaction, and is not contingent
on the Buyer obtaining financing.  The Purchase Price will be used
to pay costs of closing, including commissions owed to the broker,
and then the effectuate the terms of the Amended Plan.  As set
forth, certain lienholders are anticipated to be paid at or near
the time of closing on the sale of the Fort Lupton Property.   

The Debtor asks that the sale of the Fort Lupton Property be free
and clear of all liens, claims, and encumbrances except those
expressly assumed and assigned.  

As set forth in the Amended Plan, the Fort Lupton Property is
encumbered by the following liens, claims, or encumbrances: (i)
Deed of Trust in favor of TBK Bank in the amount of approximately
$720,000; (ii) Judgment Lien in favor of EOS CCA in the amount of
$987; (iii) Judgment Lien in favor of LVNV Funding in the amount of
$2,051; (iv) Judgment Lien in favor of Professional Finance Company
in the amount of $6,292; (v) Judgment Lien in favor of Asset
Acceptance in the filed amount of $14,044; and (vi) Disputed
Judgment Lien of Stellar Restoration Services.  

Subject to confirmation of the Amended Plan, the Debtor has
proposed the following payments to the holders of secured claims
upon sale of the Fort Lupton Property or within the first 60 days
following confirmation: () payment in full of TBK Bank's claim;
(ii) payment in full of EOS CCA's claim; (iii) Payment in full of
LVNV's claim; (iv) payment in full of Professional Finance Co.'s
claim; (v) payment to Asset Acceptance of $12,000; and (vi) payment
to Stellar Restoration Services of $70,000.

If the Debtor's Plan is confirmed on Oct. 14, 2020, the amounts set
forth above will be paid at closing on the sale of the Fort Lupton
Property.  If not, or if a dispute arises as to the nature or
amount of a claim, the sale proceeds will be placed into an escrow
account subject to existing liens in the same nature, extent, and
priority. The funds will remain in such escrow account pending
confirmation of a Plan of Reorganization or further order from the
Court.  

The sale of the Fort Lupton Property is in the best interests of
the Debtor, his estate, and his creditors.  The sale will result in
sufficient proceeds to pay a majority of the Debtor's creditors and
fund his Amended Plan.

To ensure that the closing can occur unimpeded, the Debtor further
asks a waiver of the 14-day stay of an Order granting the Motion
and authorizing the sale in accordance with Fed. R. Bankr. P.
6004(h).    

Ruben J. Rodriguez sought Chapter 11 protection (Bankr. D. Colo.
Case No. 19-15325) on June 20, 2019.  The Debtor tapped Lee M.
Kutner, Esq., as counsel.  On Sept. 21, 2020, the Court appointed
REFCO Realty, Inc. as Broker.


S LOT: Stephen Starr's Upland Miami Restaurant in Chapter 11
------------------------------------------------------------
Victor Fiorillo of Philadelphia City Life reports that one of
Stephen Starr's restaurants is headed to bankruptcy court.  Starr's
company S Lot Partners LLC filed for Chapter 11 bankruptcy
protection in September for his restaurant Upland Miami.

The website for Upland Miami describes the restaurant as "the
exciting South Florida outpost of smash-hit New York City
restaurant Upland." But a 2017 Sun-Sentinel review described Upland
Miami as "gorgeous but unsatisfying," giving the restaurant a sad
trombone-worthy one-and-a-half stars.

You have nothing to worry about, Starr says. He told the
Philadelphia Business Journal that Upland Miami presented a
"unique" situation and added, "We ain't going anywhere."

S Lot Partners, LLC, owner of the Upland Miami restaurant and a
unit of Starr Restaurant Organization, LP, sought Chapter 11
protection (Bankr. D. Del. Case No. 20-12059) on Aug. 31, 2020,
estimating less than $50,000 in assets and less than $500,000 in
liabilities.  Stuart M. Brown, at DLA PIPER LLP (US), is the
Debtor's counsel.


SIMPLE SITEWORK: U.S. Trustee Unable to Appoint Committee
---------------------------------------------------------
The Office of the U.S. Trustee on Oct. 27, 2020, disclosed in a
court filing that no official committee of unsecured creditors has
been appointed in the Chapter 11 case of Simple Sitework, Inc.
  
                     About Simple Sitework

Simple Sitework, Inc. is a locally owned and operated company
providing residential and commercial sitework throughout Southeast
Texas.

Simple Sitework filed a voluntary petition for relief under Chapter
11 of the Bankruptcy Code (Bankr. S.D. Tex. Case No. 20-34508) on
Sept. 11, 2020.  Judge Jeffrey P. Norman oversees the case.
Margaret M. McClure, Esq., is the Debtor's bankruptcy counsel.


SMYRNA READY: Moody's Rates $515MM Senior Secured Notes 'B1'
------------------------------------------------------------
Moody's Investors Service assigned a B1 rating to Smyrna Ready Mix
Concrete, LLC's (Smyrna) $515 million senior secured notes due
2028. All other ratings for the company remain unchanged. The
outlook is stable.

The proceeds from the new notes will be used to refinance the
company's existing term loan facility and repay $39 million in
outstanding debt under its current revolving credit facility. Pro
forma for the proposed offering, Moody's projects Smyrna's
debt-to-EBITDA (inclusive of Moody's adjustments) will be 3.9x at
year end 2020.

Assignments:

Issuer: Smyrna Ready Mix Concrete, LLC

Gtd. Senior Secured Global Notes, Assigned B1 (LGD4)

RATINGS RATIONALE

Smyrna's B1 Corporate Family Rating reflects the company's market
position as a one of the leading regional producers of construction
materials in Tennessee, Florida, Georgia and Kentucky, its
vertically integrated asset base and broad customer base. In
addition, Moody's rating is supported by the company's strong
EBITDA margins, commitment to reduce leverage and to maintain a
good liquidity profile. At the same time, Moody's rating takes into
consideration the company's vulnerability to cyclical end markets,
the competitive nature of its ready-mix concrete business, and
material revenue exposure to Tennessee and Florida. Governance
risks considered for Smyrna include the company's acquisitive
strategy, its financial policy, family control, and lack of
independent board members. This is partially mitigated by Smyrna's
historical focus on execution, reinvestment in the business, and
commitment towards a disciplined financial policy.

The stable outlook reflects Moody's expectation that Smyrna will
steadily grow its revenues, maintain its strong operating
performance, generate solid free cash flow, and remain committed to
reducing its debt leverage. This is largely driven by Moody's view
that the US economy will improve sequentially and remain supportive
of the company's underlying growth drivers.

Moody's expects Smyrna to maintain a good liquidity profile over
the next 12-18 months. Pro forma for the transaction, Smyrna's
liquidity position is supported by approximately $15 million of
cash (at December 31, 2020), a $100 million asset based revolving
credit facility (unrated), which will remain mostly undrawn and
Moody's expectation that the company will generate more than $50
million in free cash flow in 2021. The asset based revolving credit
facility, which expires in 2025, is governed by a springing
fixed-charge coverage ratio of 1.0x, that comes into effect if
availability under the asset based revolving credit facility is
less than 15% of the total revolver availability.

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

The ratings could be upgraded if:

  -- Debt-to-EBITDA is below 3.5x for a sustained period

  -- EBIT-to-Interest expense is above 2.0x for a sustained period

  -- The company maintains its strong operating performance and
improves its liquidity profile

  -- The company demonstrates a conservative financial policy

The ratings could be downgraded if:

  -- Debt-to-EBITDA is above 4.5x for a sustained period

  -- EBIT-to-Interest expense is below 2.0x for a sustained period

  -- The company's operating performance and liquidity profile
deteriorates

The principal methodology used in this rating was Building
Materials published in May 2019.

Smyrna Ready Mix Concrete, LLC is a manufacturer and retailer of
ready-mixed concrete in Tennessee, Florida, Kentucky, Ohio,
Indiana, Texas, Georgia, Alabama, Arkansas, Michigan, South
Carolina, and Virginia. The company operates within two primary
segments: (i) ready-mixed concrete, which accounts for more than
90% of revenue, and (ii) aggregate products.

The company currently owns and operates 203 active plants, 162 of
which have daily yardage volumes ranging from 100 - 2,000 yards per
day per plant. Most of Smyrna's plants are located within a
50-minute driving time of multiple metropolitan areas.

Pro forma for recent and planned acquisitions, revenue and adjusted
EBITDA for the last twelve months ended June 30, 2020, would have
been approximately $1.1 billion and $222 million, respectively.


SPEEDBOAT JV: Hires St. James Law as Chapter 11 Counsel
-------------------------------------------------------
Speedboat JV Partners, LLC seeks authority from the United States
Bankruptcy Court for the Northern District of California to hire
St. James Law, P.C. as its Chapter 11 counsel.

The Debtor requires the assistance of Chapter 11 counsel with
respect to:

     a. comply with the requirements of the Bankruptcy Code
respecting its operation as a Debtor in Possession;

     b. comply with the requirements of the Office of the United
States Trustee respecting operating matters and the filing of
reports;

     c. interact with the Subchapter V Trustee;

     d. facilitate the administration of claims, including the
evaluation of timely filed Proofs of Claim;

     e. formulate and prosecute its Plan of Reorganization; and

     f. represent in the course of its Chapter 11 proceedings.

St. James Law, P.C. has a single full-time professional employee,
Michael St. James, whose current hourly rate is $650 per hour.

The Firm received a pre-payment deposit or retainer of $50,000, of
which a portion was applied to pre-petition services and the filing
fee, leaving a net pre-petition retainer of $43,863 as of the
filing date.  

The firm does not have or represent any interest adverse to the
Debtor or the estate and is a "disinterested person," according to
court filing.

The firm can be reached through:

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

                      About Speedboat JV Partners

Speedboat JV Partners, LLC is engaged in activities related to real
estate.  It is the owner of fee simple title to certain property
located at 77 Speedboat Avenue, Kings Beach, CA, valued at $17
million.

Speedboat JV Partners, LLC filed its voluntary petition for relief
under Chaptre 11 of the Bankruptcy Code (Bankr. N.D. Cal. Case No.
20-30731) on Sep. 17, 2020. The petition was signed by Marc
Shishido, manager. At the time of filing, the Debtor estimated
$17,016,000 in assets and $2,300,000 in liabilities. Michael St.
James, Esq.
at ST. JAMES LAW, P.C. represents the Debtor as counsel.


SUNPOWER CORP: Posts $44.6 Million Net Income in Third Quarter
--------------------------------------------------------------
SunPower Corporation filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing net income
attributable to stockholders of $44.63 million on $274.81 million
of revenue for the three months ended Sept. 27, 2020, compared to a
net loss attributable to stockholders of $15.02 million on $286.04
million of revenue for the three months ended Sept. 29, 2019.

For the nine months ended Sept. 27, 2020, the Company reported net
income attributable to stockholders of $62.57 million on $783.02
million of revenue compared to net income attributable to
stockholders of $16.72 million on $690.61 million of revenue for
the  nine months ended Sept. 29, 2019.

As of Sept. 27, 2020, the Company had $1.45 billion in total
assets, $1.45 billion in total liabilities, and a total deficit of
$7.06 million.

"Our solid third quarter results reflect the strong demand for our
industry-leading solutions in both our residential and commercial
markets," said Tom Werner, SunPower CEO and chairman of the board.

"Overall, we executed well as MW recognized grew 20% sequentially,
we further expanded our gross margin, generated positive cash flow
and added to our significant backlog.  Additionally, we are pleased
with the customer response to our recent product introductions as
demand for our SunVault residential storage solution remains very
strong while we continue to add partners for our OneRoof product
for the new homes market.  We expect these positive trends to
continue in the fourth quarter.  Further, we remain confident in
our 2021 targets that we presented at our Capital Markets Day in
September given improving industry trends, our integrated The Power
of One platform, the company's new product's and our continued
focus on maximizing long term cash flow."

RLC

"Our RLC business executed well for the quarter with sequential
improvement in MW recognized, gross margin and Adjusted EBITDA.
Our residential business performed well with MW recognized up 33%
sequentially as we benefited from the continued improvement in
demand throughout the quarter with significant demand for our new
loan product in partnership with Technology Credit Union.  Also,
customer interest for our SunVault residential storage remains very
high with current attach rates in California exceeding 20%.  In new
homes, we continued to expand our market leading footprint as we
saw record bookings during the quarter and our backlog grew to more
than 50,000 homes, another record.  Finally, we continue to expect
30-50% revenue growth in both our residential and new homes
businesses for fiscal year 2021."

C&I Solutions

"Our C&I Solutions business also performed well as installs rose
30% sequentially in addition to posting positive Adjusted EBITDA
for the quarter.  We added to our $3.5 billion pipeline and
expanded our footprint in the fast-growing community solar market
as we secured 13MW of community solar projects.  Helix storage
demand remains high with our pipeline now exceeding 630 MWh and Q4
attach rates of 50%."

Consolidated Financials

"Solid execution in the third quarter enabled us to exceed our
revenue and Adjusted EBITDA financial guidance, strengthen our cash
position and further invested in our storage and services
initiatives," said Manavendra Sial, SunPower chief financial
officer.  "We also closed our second innovative residential lease
financing facility with Bank of America during the quarter which
materially lowers our cost of capital while providing funding
through the middle of next year.  Additionally, we are building our
Powerco with the recurring revenue pipeline continuing to grow and
SunStrong's retained value above forecast at $358 million at the
end of the third quarter.  Related to the balance sheet, our cash
increased by approximately $90 million to $325 million.
Additionally, we expect total cash flow to be positive in the
fourth quarter.  With our current cash position and expected cash
flow in the fourth quarter, we now have the ability to pay off the
convert early if we so choose."

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

https://www.sec.gov/ix?doc=/Archives/edgar/data/867773/000086777320000098/spwr-20200927.htm

                        About SunPower

Headquartered in San Jose, California, SunPower Corporation --
http://www.sunpower.com-- is a global energy company that delivers
complete solar solutions to residential, commercial, and power
plant customers worldwide through an array of hardware, software,
and financing options and through solar power solutions, operations
and maintenance services, and "Smart Energy" solutions.  The
Company's Smart Energy initiative is designed to add layers of
intelligent control to homes, buildings and grids -- all
personalized through easy-to-use customer interfaces.

SunPower reported a net loss of $7.72 million for the fiscal year
ended Dec. 29, 2019, a net loss of $917.5 million for the fiscal
year ended Dec. 30, 2018, and a net loss of $1.17 billion for the
year ended Dec. 31, 2017.  As of June 28, 2020, the Company had
$1.94 billion in total assets, $1.89 billion in total liabilities,
and $41.30 million in total equity.


SUPERIOR AIR: Brown & Glickman Object to Plan & Disclosure
----------------------------------------------------------
Richard Brown and Julius Glickman, general unsecured creditors of
Debtor Superior Air Charter, LLC, object to the adequacy of
disclosure statement and to confirmation of the Plan of Debtor and
Official Committee of Unsecured Creditors.

Claimants point out that the Combined Plan and Disclosure Statement
contains no discussion of any investigation conducted by the
Committee into potential misconduct by the Debtor or its officers,
in spending $51 million in SuiteKey member deposits that had not
yet been applied to further flights to be taken by the members
providing those deposits.

Claimants state that the Plan and Disclosure Statement also does
not disclose the existence of insurance policies providing coverage
to the Debtor and its officers, directors and managers for wrongful
conduct and breaches of their fiduciary duties. The Plan and
Disclosure Statement do not indicate that any proceeds from these
policies are included in the recovery available to SuiteKey members
under the Plan, and presumably they are not.

Claimants assert that the Plan proposes to release the Debtor and
its officers, directors and managers from all conduct giving rise
to its bankruptcy in exchange for an offer of $3,025 per SuiteKey
Member or a credit for flight time with an alternate provider for
up to 15% of their allowed claim. This consideration is plainly
inadequate under the circumstances.

Claimants further assert that the third party release and
injunction provisions of the Plan must be modified to permit
Claimants’ claims against the Debtor and its officers and
directors for wrongful conduct and breach of fiduciary duties,
which may be covered by the Debtor’s D&O Insurance coverage, to
be pursued outside of the Plan.

A full-text copy of the Claimants' objection to disclosure
statement and plan dated August 27, 2020, is available at
https://tinyurl.com/y3a2bohd from PacerMonitor at no charge.

Attorneys for Richard Brown and Julius Glickman:

        SULLIVAN ∙ HAZELTINE ∙ ALLINSON LLC
        William D. Sullivan
        919 North Market Street, Suite 420
        Wilmington, DE 19801
        Tel: (302) 428-8191
        Fax: (302) 428-8195
        E-mail: bsullivan@sha-llc.com

                   About Superior Air Charter

Superior Air Charter, LLC -- https://www.jetsuite.com/ -- operates
charter air carrier JetSuite.  With its current headquarters in
Dallas, Texas, JetSuite was founded in 2006 by Alex Wilcox, Keith
Rabin, and Brian Coulter. It is one of the biggest operators of
private air services in the United States. It operates chartered
services with a fleet of Phenom 100 and Citation CJ3 aircraft and
offer subscription-based air travel services to passengers to
western United States, Canada, and Mexico.

Superior Air Charter sought Chapter 11 protection (Bankr. D. Del.
Case No. 20-11007) on April 28, 2020.  The Debtor was estimated to
have $1 million to $10 million in assets and $50 million to $100
million in liabilities.  The Debtor tapped Bayard, P.A., as
counsel; and Stretto as claims agent.

On May 12, 2020, The United States Trustee appointed an Official
Committee of Unsecured Creditors, comprised of (i) Netflix, Inc.,
(ii) Jet Support Services Inc., (iii) Joseph Nettemeyer, and (iv)
John Danahy.  Pepper Hamilton LLP serves as its counsel.


SUPERIOR AIR: Court Confirms Chapter 11 Plan
--------------------------------------------
Jeff Montgomery of Law360 reports that over the objections of the
U.S. trustee, Dallas-based Superior Air Charter LLC secured
confirmation in early September 2020 for a Delaware Chapter 11 plan
that will see the company's three remaining aircraft resume
operations under a new business model.

Judge Christopher S. Sontchi brushed aside opposition from the
Office of the U.S. Trustee, which argued that Superior's plan was
not feasible and that the company was actually liquidating its
business after letting go of 10 of its 13 aircraft without showing
that it can operate profitably.

Referring to the economic downturn caused by the coronavirus
pandemic, the judge said his ruling reflected the flexibility
emerging in bankruptcy court under the current "extraordinary
circumstances." ​

"There was some criticism that people were being cautiously
optimistic about the business plan," Judge Sontchi said. "I think
in today's reality, if you're anything more than cautiously
optimistic, you're delusional. Cautiously optimistic sounds pretty
good to me."

The judge said he would be "be surprised but not shocked" if the
business ended up back in bankruptcy within a year.

"That kind of gets me to: What does 'feasibility' mean? I think it
means that it's more likely than not that there will not be a
further reorganization," Judge Sontchi said.

The more than a decade-old company had never turned a profit, the
U.S. trustee noted, and flew into a pandemic-shriveled economy not
long after attempting a major expansion of its service areas. It
sought bankruptcy protection April 28 with about $75 million in
unsecured debt and about $50 million in prepaid flight hours owed
to about 870 subscribers.

In addition to suffering from pandemic-related economic
disruptions, Superior Air reported that much of its business was
grounded by reliability and other problems with many of the
aircraft it operated. The company expects to emerge from Chapter 11
with only three four-seat aircraft in its fleet and a handful of
employees.

Before the filing, Superior operated on a thin margin as a charter
affiliate of JetSuiteX LLC, a regional air carrier with flights to
southern California, Phoenix and Las Vegas, according to the
company. The model before bankruptcy involved enrollments of
prepaid costumers, or SuiteKey clients, who could schedule trips on
Superior's small aircraft to locations not always served by regular
airlines.

"This business is in trouble. It was in trouble before the petition
date. It shut down post-petition and it is reorganizing with an
extremely depleted fleet and an unproven business model," Judge
Sontchi said. But currently, he added, "Every business has a chance
of being back in bankruptcy."

Judge Sontchi overruled the objections of two SuiteKey customers,
Richard Brown and Julius Glickman, who each had more than $70,000
in flying time credits at the time the company sought bankruptcy
protection. Both challenged releases from liability for the
company's officers, directors and managers and sought additional
disclosures about liability insurance coverage that could be a
source of damage awards for unhappy customers. Judge Sontchi said
that, although the plan includes an injunction barring suits
against released parties, arguments to allow individual suits can
still be considered by the court after confirmation.

About a quarter of Superior's holders of prepaid flight time rights
chose to cash out their claims in exchange for a fractional, and as
yet undetermined, return. The rest retained their credits for
rights to fly on reorganized routes.

Evan T. Miller of Bayard PA, counsel for Superior, said that the
reorganized company would operate under a service brokerage model
with affiliate Delux Public Charter LLC, rather than in direct
consumer interactions. The business also would be resuming
operations at a time when travel is on the increase.

"There is an absolute resurgence of interest in this industry,"
Miller said.

Judge Sontchi said that although the reorganized company was much
smaller and will operate in a different way, that did not trigger a
requirement to discharge the company from bankruptcy without
confirmation.

"I think there's a lot going on right now in the Bankruptcy Court
that is very much dependent on the extraordinary circumstances
we're operating under," the judge said. "It's not business as
usual, but at some point, God willing, we will return to business
as usual, and the flexibility and benefit of the doubt, flexibility
of due process that we're providing to help alleviate the economic
problems we're seeing today, are no longer going to be available."

Superior Air Charter LLC is represented by Evan T. Miller, Daniel
N. Brogan, Gregory J. Flasser and Sophie E. Macon of Bayard PA and
David B. Stratton, Evelyn J. Meltzer and Marcy J. Mclaughlin Smith
of Troutman Pepper.

Richard Brown and Julius Glickman are represented by William D.
Sullivan of Sullivan Hazeltine Allinson LLC.

The Office of the U.S. Trustee is represented by Benjamin A.
Hackman.

                     About Superior Air Charter

Superior Air Charter, LLC -- https://www.jetsuite.com/ -- operates
charter air carrier JetSuite.  With its current headquarters in
Dallas, Texas, JetSuite was founded in 2006 by Alex Wilcox, Keith
Rabin, and Brian Coulter. It is one of the biggest operators of
private air services in the United States. It operates chartered
services with a fleet of Phenom 100 and Citation CJ3 aircraft and
offer subscription-based air travel services to passengers to
western United States, Canada, and Mexico.

Superior Air Charter sought Chapter 11 protection (Bankr. D. Del.
Case No. 20-11007) on April 28, 2020. The Debtor was estimated to
have $1 million to $10 million in assets and $50 million to $100
million in liabilities.  The Debtor tapped Bayard, P.A., as
counsel; and Stretto as claims agent.

On May 12, 2020, The United States Trustee appointed an Official
Committee of Unsecured Creditors, comprised of (i) Netflix, Inc.,
(ii) Jet Support Services Inc., (iii) Joseph Nettemeyer, and (iv)
John Danahy.  Pepper Hamilton LLP serves as its counsel.



TATE'S AUTO: FTC Forces Dealerships to Shut on Falsified Loans
--------------------------------------------------------------
The Federal Trade Commission announced Sept. 4, 2020 that a group
of auto dealerships in Arizona and New Mexico must cease business
operations as part of a court-approved settlement resolving FTC
charges that the dealerships deceived consumers and falsified
information on vehicle financing applications.

In a case filed in 2018, the FTC alleged that Tate's Auto Center of
Winslow, Inc.; Tate's Automotive, Inc.; Tate Ford-Lincoln-Mercury,
Inc. (doing business as Tate's Auto Center); Tate's Auto Center of
Gallup, Inc.; and Richard Berry, an officer of the dealerships,
falsified consumers' income and down payment information on vehicle
financing applications and misrepresented important financial terms
in vehicle advertisements. The case continues against Berry and
relief defendant Linda Tate.

"These auto dealers sent bogus applications to finance companies to
qualify consumers for car loans that they could not afford,
subjecting the consumers to defaults and repossessions," said
Andrew Smith, Director of the FTC's Bureau of Consumer Protection.
"Falsifying income and down payment information on car loan
documents is illegal, and the FTC won't hesitate to take action
against car dealers who engage in this harmful conduct."

The settling defendants are currently in Chapter 7 bankruptcy
proceedings and are under the control of a bankruptcy trustee.  The
settlement includes a monetary judgment of $7,203,227 against the
defendants and makes the Commission an unsecured claimant in the
bankruptcy proceedings.

In addition, the settlement prohibits the trustee from selling any
consumer information held by the defendants as part of the
liquidation of the company’s assets. Instead, the trustee must
either destroy the information or provide it to the Commission for
destruction.

The Commission vote approving the stipulated final order was 3-0-2,
with Commissioners Rebecca Kelly Slaughter and Christine S. Wilson
recorded as not participating. The settlement was approved and
entered in the U.S. District Court for the District of Arizona.

                       About Tate's Auto Group

Founded in 1977, Tate's Auto Group -- https://www.shoptates.com/ --
is a new and used car dealer with dealership locations in Show Low,
Holbrook, Winslow, AZ, and now Gallup, NM.

Tate's Automotive, Inc. and four of its affiliates have filed
voluntary petitions seeking relief under Chapter 11 of the
Bankruptcy Code (Bankr. D. Ariz. Case No. 19-02523) on March 8,
2019.  The petitions were signed by Richard K. Berry,
secretary/treasurer. The Debtors' cases are being jointly
administered pursuant to the Court's Order dated March 14, 2019
Anthony W. Austin, Esq. at Fennemore Craig, P.C., serves as
Debtors' lead counsel and Bryan A. Albue, Esq. at Sherman & Howard
L.L.C. as its co-counsel.

The affiliates that have filed voluntary petitions are:

     Debtor                                     Case No.
     ------                                     --------
     Tate's Automotive, Inc.                    19-02523
     Tate's Auto Center of Gallup, Inc.         19-02493
     Tate's Auto Center of Winslow, Inc.        19-02524
     Tate Ford-Lincoln-Mercury, Inc.            19-02527

At the time of filing, Tate's Automotive's estimated under $50
million in assets and liabilities; and Tate's Auto Center of
Gallup's estimated under $10 million in assets and liabilities.

A Chapter 11 trustee was appointed in the case.  Bryan Perkinson,
the Chapter 11 Trustee, retained Allen Barnes & Jones, PLC, as
counsel, and Sonoran Capital Advisors, as financial advisor.


TEMPSTAY INC: Debtor's Plan & Disclosures Approved
--------------------------------------------------
On Aug. 25, 2020, Debtor TempStay, Inc. filed with the U.S.
Bankruptcy Court for the Southern District of Texas, Houston
Division, a Disclosure Statement describing Plan of
Reorganization.

On Aug. 27, 2020, Judge Eduardo V. Rodriguez conditionally approved
the Disclosure Statement and ordered an Oct. 6 hearing to consider
final approval of the Disclosure Statement and confirmation of the
Plan.

Judge V. Rodriguez ordered that the Plan is CONFIRMED under 11
U.S.C. Sec. 1129(a) with the following modifications:

       8181 Med Center Apartments - Debtor acknowledges that there
is a total of $4,543.73 in prepetition rent arrears on the leases
for the three units that the Debtor seeks to assume.  Debtor will
cure these prepetition rent arrearages by making six equal monthly
payments to the owner of 8181 Med Center Apartments in the amount
of $757.28 beginning on the 15th day of the 1st calendar month
following 60 days after the Effective Date of the Plan.   

       In accordance with Section 1142 of the United States
Bankruptcy Code, the Debtor is authorized and directed, without the
necessity of any further approval, to  immediately take any action
necessary or appropriate to implement, effectuate, and  consummate
the Plan and any transactions contemplated thereby or by this Order
in accordance with their respective terms.

Copies of the Plan Confirmation Order and the Plan, as modified,
are available at:

https://www.pacermonitor.com/view/T2OBYPA/TempStay_Inc__txsbke-19-36776__0063.0.pdf?mcid=tGE4TAMA

                       About TempStay Inc.

Based in Houston, Texas, TempStay, Inc. filed a voluntary petition
for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D.
Tex. Case No. 19-36776) on Dec. 5, 2019, listing under $1 million
in both assets and liabilities. Margaret Maxwell McClure, Esq., is
the Debtor's counsel.  Judge Eduardo V. Rodriguez oversees the
case.


TEMPSTAY INC: Unsecured Creditors to Recover 25% Over 5 Years
-------------------------------------------------------------
TempStay, Inc. filed with the U.S. Bankruptcy Court for the
Southern District of Texas, Houston Division, a Disclosure
Statement describing Plan of Reorganization dated August 25, 2020.

The allowed general unsecured creditors will be paid 25% of their
claims on a pro rata basis each month for 60 months. The monthly
payments to American Express National Bank will be $259.00 per
month; the monthly payments to IMT at the Medical Center will be
$506.00 per month; and the monthly payments to The Supermaids of
Texas will be $52.00 per month. The first monthly payment will be
due and payable on the 15th day of the 1st calendar month following
60 days after the Effective Date of the Plan.

Insiders will not be paid any pre-petition claims during the term
of the Plan except the claim of Clear Choice Furnishings. All
others' claims will be discharged upon confirmation of the plan.

The shareholders are Gerry Lea Fuller who holds 99.98% ownership
and CEO, and Scott Michael Fuller who holds .02 ownership and
President.

On the Effective Date, title to all assets and properties dealt
with by the Plan shall vest in the Reorganized Debtor, free and
clear of all Claims and Interests other than any contractual
secured claims granted under any lending agreement, on the
condition that the Reorganized Debtor complies with the terms of
the Plan, including the making of all payments to creditors
provided for in such Plan.

This Plan of Reorganization will be funded by the Reorganized
Debtor through future business income of the Debtor. The current
management will remain in control.

A full-text copy of the disclosure statement dated August 25, 2020,
is available at https://tinyurl.com/y6mspcro from PacerMonitor.com
at no charge.

The Debtor is represented by:

           MARGARET M. MCCLURE
           909 Fannin, Suite 3810
           Houston, Texas 77010
           Tel: (713) 659-1333
           Fax: (713) 658-0334
           E-mail: Margaret@mmmcclurelaw.com

                      About TempStay Inc.

Based in Houston, Texas, TempStay, Inc. filed a voluntary petition
for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D.
Tex. Case No. 19-36776) on Dec. 5, 2019, listing under $1 million
in both assets and liabilities. Margaret Maxwell McClure, Esq., is
the Debtor's counsel.  Judge Eduardo V. Rodriguez oversees the
case.


THE PAPER STORE: Emerged From Bankruptcy in September
-----------------------------------------------------
In mid-July, The Paper Store, LLC ("The Paper Store" or the
"Company"), a 55-year-old family-run and operated gift retailer in
the Northeast, pursued a Chapter 11 financial restructuring due to
the impact of COVID-19 regulations shuttering their 86 store
locations for months.

On Sept., the business successfully emerged from bankruptcy
alongside a group of strategic investors led by principals of WS
Development, a national retail real estate development firm that
owns, manages and leases an extensive portfolio of over 95
properties totaling more than 27 million square feet.

During the progression of the Chapter 11 events, the Company
continued to operate the business and worked with its stakeholders
to ensure ongoing obligations were met and services were
uninterrupted – allowing The Paper Store customers to continue
enjoying their neighborhood specialty gift store.

"The Paper Store could not have successfully navigated this process
without the support of our dedicated, hardworking, and motivated
staff, as well as principals of WS Development who made a
meaningful commitment to our future and have allowed for our
family-run business to continue serving our communities," said Tom
Anderson, CEO and President of The Paper Store. "We also cannot
express enough appreciation for our beloved customers – they have
stuck by us for years and continued to do so during these uncertain
times."

The Paper Store principals are embracing what lies ahead for the
business – to continue offering guests a unique shopping
experience where they can find a gift for everyone on their list
while providing a safe environment for them to shop comfortably.
Anderson added, "We understand our customers have choices and we
are encouraged and flattered that they choose The Paper Store. As
our business grows in the coming months, it’s these same
customers who will continue to help shape our brand. The product
offerings and trends that we bring into our stores and online at
thepaperstore.com are fueled by what our customers need and how
they prefer to shop for it. We are honored to be their
one-stop-shop for the 'new normal' essentials and more."

                       About WS Development

WS Development develops, owns, manages, and leases an extensive
portfolio of over 95 properties across the U.S. totaling more than
27 million square feet. Founded in 1990, WS is one of the largest
privately-held retail developers in the country. At each of its
properties, the company builds to own and commits to long-term
investments by forging enduring relationships with the communities
it serves.

                        About The Paper Store

The Paper Store, LLC is a family-owned and family-operated
specialty gift retailer, with 86 stores in seven states and an
e-commerce business. The retail locations feature merchandise
comprising fashion, accessories, spa, home decor, stationery,
jewelry, sports and more from well-regarded brands such as Vera
Bradley, Lilly Pulitzer, Godiva, 47 Brands, Alex and Ani, Life is
Good, Vineyard Vines, and Sugarfina. Visit
http://www.thepaperstore.comfor more information.   

Paper Store and its affiliate TPS Holdings, LLC sought Chapter 11
protection (Bankr. D. Mass. Case No. 20-40743) on July 14, 2020. In
the petition signed by CRO Don Van der Wiel, Paper Store was
estimated to have assets of $10 million to $50 million and debt of
$50 million to $100 million.

Judge Christopher J. Panos oversees the cases.

Debtors have tapped Mintz, Levin, Cohn, Ferris, Glovsky and Popeo,
P.C. as their legal counsel, G2 Capital Advisors as restructuring
advisor, SSG Capital Advisors as investment banker, Verdolno &
Lowet, P.C. as accountant, and Donlin, Recano & Co., Inc. as claims
and noticing agent.


TIKRAN ERITSYAN: Yeghiazaryan Bids $600K for Granada Property
-------------------------------------------------------------
Tikran Eritsyan asks the U.S. Bankruptcy Court for the Central
District of California to authorize the sale of the real property
located at 15632 Viewridge Lane, Granada Hills, California to Argam
Yeghiazaryan for $600,000, subject to overbid.

As of the Petition Date, the Debtor was the sole owner of the
Property.  The Property is a residential real property that the
Debtor purchased in 2016 for purpose of renovation and sale.  The
remodeling work on the Property is finished and the Debtor believes
that the Property is ready to be sold.  The Property is currently
occupied by the Debtor as his principal residence and does not
produce any income for the estate.  

The Debtor entered into an agreement with the Buyer for the
purchase price of $600,000.  The Property is to be sold "as-is,"
free and clear of liens.  An escrow has been opened and the Buyer
has made an earnest money deposit of $3,000.  The purchase price is
subject to overbid.

The Debtor initially scheduled the Property to be valued at
$420,000 in his schedules A/B.  That estimate was based on sales of
comparable residences in the area of the Property.  Turns out, the
Debtor's estimate undervalued the property, since he currently has
an offer to sell the Property at $600,000 to the Buyer, on the
terms of their purchase agreement.

The Property is subject to the following liens and encumbrances in
order of priority:  

      1. First Priority deed of trust lien in favor of Bank of
America, N.A., and currently serviced by Mr. Cooper in the amount
of $206,190.

      2. Second Deed of Trust in favor of AIAA Home Holdings, LLC
in the amount of $115,590.

      3. Third Deed of Trust in favor of AIAA Hoem Holdings, LLC in
the amount of $$32,325.

      4. Third Deed of Trust in Favor of AIAA Home Holdings, LLC in
the amount of $64,233 (the lien is cross-collateralized by the
Property and the Debtor's other property located at 1356 Elm Ave.,
Glendale, CA 91201).

      5. A homeowners association assessment lien of Granada Ridge
HOA, in the amount of $8,340.

By the Motion, the Debtor asks an order authorizing Debtor to pay
from the sale proceeds and through escrow certain undisputed liens
and encumbrances, and other ordinary costs of sale, including
escrow fees and closing costs:  

      1. Any unpaid property taxes in favor of Los Angeles County
Tax Collector, estimated to be in the amount of $5,459.

      2. The debt secured by a first deed of trust lien in favor of
MERs as nominee for Bank of America, N.A. in the amount of $206,190
subject to the payoff demand provided to the escrow company.   

      3. The seller’s closing costs.

      4. The debt secured by a second deed of trust in favor of
AIAA Home Holdings, LLC in the amount of $115,590.

      5. The debt secured by a third deed of trust in favor of AIAA
Hoem Holdings, LLC in the amount of $$32,325.

      6. The debt secured by a fourth Deed of Trust in Favor of
AIAA Home Holdings, LLC in the amount of $64,233.

      7. A homeowners association assessment lien of Granada Ridge
HOA in the amount of $8,340.

The following demonstrates the estimated payoff amounts as of the
Nov. 5, 2020 hearing date, not including the closing costs based on
the preliminary report and payoff demands submitted by the lender:

     a. No. 2 - Los Angeles County Tax Collector (Not made) -
$5,459

     b. No. 18 - Deed of Trust to secure indebtedness to MERS as a
nominee for Bank of America, N.A. Mr. Cooper ($206,190) - $206,190

     c. No. 19 - Second deed of trust held by AIAA Home Holdings,
LLC ($115,590) - $115,590

     d. No. 20 - Third deed of trust held by AIAA Home Holdings,
LLC ($32,325) - $32,325

     e. No. 21 - Fourth deed of trsut held by AIAA Home Holdings,
LLC ($64,233) - $64,233

     f. No. 22 - Homeowners association lien of Granada Ridge HOA
($8,340) - $8,340

In order to save on the costs of sale of the Property, the Debtor
mainly marketed the Property to potential investors.  The
residential purchase agreement does not contemplate payment of real
estate broker commission since none was involved in the marketing
and sale of the Property.   

The proposed bid procedures are intended to permit a fair and
efficient, competitive sale of the Property, and to identify
competing and alternative bids.

The salient terms of the Bidding Procedures are:

     a. Bid Deadline: No later than three court days prior to the
date of the hearing on the Motion to Sell

     b. Initial Bid: $605,000

     c. Deposit: $18,000 made payable to KG LAW, APC

     d. Auction: The auction sale of the Property will be conducted
at the hearing of the Motion to Sell.  If more than one bidder
appears at the auction, the bidding order will be randomly
selected.  

     e. Bid Increments: $5,000

By the Motion to sell, the Debtor asks an order authorizing me to
pay from the sale proceeds and through escrow certain undisputed
liens and encumbrances, other ordinary costs of sale, including
escrow fees and closing costs.

Finally, the Debtor asks that the Court waives the 14-day stay
imposed by FRBP 6004(h).  It is not anticipated that any creditor
of party in interest will object to the proposed sale.  The parties
wish to complete the sale as quickly as possible and, therefore,
Debtor asks permission to proceed with the sale immediately.  

A hearing on the Motion is set for Nov. 5, 2020 at 1:30 p.m.
Objections, if any, must be filed not later than 14 days before the
hearing.

A copy of the Agreement is available at
https://tinyurl.com/yyqnl9pv from PacerMonitor.com free of charge.

Tikran Eritsyan sought Chapter 11 protection (Bankr. C.D. Cal. Case
No. 20-10924) on May 18, 2020.  The Debtor tapped Vahe Khojayan,
Esq., as counsel.


TOBACCO SETTLEMENT: S&P Affirms CCC- (sf) Rating on 2007B Bonds
---------------------------------------------------------------
S&P Global Ratings assigned its ratings to Tobacco Settlement
Finance Authority's tobacco settlement asset-backed refunding
series 2020A and 2020B bonds. At the same time, S&P affirmed its
rating on the series 2007B bonds.

The note issuance is an ABS transaction backed by West Virginia's
state-pledged tobacco settlement revenues resulting from the master
settlement agreement payments, fully funded liquidity reserve
accounts, and interest income. The 2020 bonds were issued pursuant
to an amended and restated trust indenture, and a series 2020
supplement.

The series 2020A class 1 issuance consisted of $272.155 million of
serial bonds maturing annually from 2021-2035, as well as $96.55
million of term bonds maturing in 2040, and $159.615 million of
term bonds maturing in 2049. The series 2020B class 2 issuance
consisted of $62.0 million turbo term bonds maturing in 2035, and
$103.195 million turbo term bonds maturing in 2049. All of the
bonds are senior and are current interest bonds.

The ratings reflect:

-- The likelihood that timely interest and scheduled principal
payments will be made by the legal maturity date under the
appropriate rating stress level;

-- The credit quality of the two largest participating tobacco
manufacturers: Altria Group Inc., parent of Philip Morris USA Inc.,
and British American Tobacco PLC, parent of Reynolds American
Inc.;

-- The transaction's legal and payment structures; and

-- The series 2020 class 1 and 2 senior liquidity reserve accounts
of $36.07 million and $6.89 million, respectively, which will be
fully funded at closing and only available to their respective
classes.

  Ratings Assigned

  Tobacco Settlement Finance Authority (Series 2020A)

  Class 1, A (sf), $19,290,000, 6/1/2021
  Class 1, A (sf), $19,515,000, 6/1/2022
  Class 1, A (sf), $18,405,000, 6/1/2023
  Class 1, A (sf), $18,320,000, 6/1/2024
  Class 1, A (sf), $17,770,000, 6/1/2025
  Class 1, A (sf), $17,815,000, 6/1/2026
  Class 1, A (sf), $18,160,000, 6/1/2027
  Class 1, A (sf), $18,440,000, 6/1/2028
  Class 1, A (sf), $18,400,000, 6/1/2029
  Class 1, A (sf), $18,270,000, 6/1/2030
  Class 1, A- (sf), $18,210,000, 6/1/2031
  Class 1, A- (sf), $17,850,000, 6/1/2032
  Class 1, A- (sf), $17,895,000, 6/1/2033
  Class 1, A- (sf), $16,580,000, 6/1/2034
  Class 1, A- (sf), $17,235,000, 6/1/2035
  Class 1, A- (sf), $96,550,000, 6/1/2040
  Class 1, BBB+ (sf), $159,615,000, 6/1/2049

  Tobacco Settlement Finance Authority (Series 2020B)

  Class 2, BBB (sf), $62,000,000, 6/1/2035
  Class 2, BBB- (sf), $103,195,000, 6/1/2049

  Rating Affirmed

  Tobacco Settlement Finance Authority (Series 2007B)

  -- CCC- (sf)


TONOPAH SOLAR: Disclosures Okayed; Plan Hearing Moved to Nov. 20
----------------------------------------------------------------
Bankrupt solar project builder Tonopah Solar Energy LLC received
court approval in September 2020 in Delaware for its Chapter 11
disclosure statement, allowing it to seek votes on and schedule a
confirmation hearing on its Chapter 11 Plan.

Law 360 reports that during a virtual hearing, debtor attorney
Matthew B. Lunn of Young Conaway Stargatt & Taylor LLP said some
modifications had been made to the proposed plan and disclosure
statement to address the concerns of some parties to the case, but
that purported creditor SolarReserve Inc. had formally objected to
the approval of the disclosure over the case timeline.

The Debtor said in a court filing mid-October that although the
hearing to consider  confirmation of the Plan was originally
scheduled for October 27, 2020, certain issues relating to
pleadings and claims filed, and matters raised, by SolarReserve
CSP Holdings, LLC, CMB Infrastructure Investment Group IX, LP, and
CMB Export, LLC (collectively, "CMB") have resulted in the Debtor
filing a motion requesting disallowance of the claims filed by
Solar Reserve and CMB, which is scheduled for  Oct. 27, 2020 and,
accordingly causing an adjournment of the confirmation hearing to
Nov. 20, 2020.

                    About Tonopah Solar Energy

Tonopah Solar Energy, LLC owns and operates a net 110-megawatt
concentrated solar energy power plant located near Tonopah in Nye
County, Nevada. The power plant is also known as the Crescent Dunes
Solar Energy Project, which is the first utility-scale concentrated
solar power plant in the United States to be fully integrated with
energy storage technology.  

Tonopah Solar Energy sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Del. Case No. 20-11884) on July 30,
2020. At the time of the filing, the Debtor had estimated assets of
between $500 million and $1 billion and liabilities of between $100
million and $500 million.  

Judge Karen B. Owens oversees the case.

The Debtor tapped Young, Conaway, Stargatt & Taylor LLP and Willkie
Farr & Gallagher LLP as its legal counsel, Houlihan Lokey Inc. as
investment banker, and Epiq Corporate Restructuring, LLC as claims
agent and administrative advisor. FTI Consulting, Inc., provides
turnaround management services.


TONOPAH SOLAR: Responds to Objection of SolarReserve and CMB
------------------------------------------------------------
Tonopah Solar Energy, LLC, responded to the objection filed by
SolarReserve CSP Holdings, LLC and CMB Infrastructure Investment
Group IX, L.P. (collectively the "Objecting Parties") to approval
of the Debtor's Disclosure Statement for Chapter 11 Plan for
Tonopah Solar Energy, with respect to the Debtor’s proposed plan
of reorganization.

The Debtor asserts that the Plan timeline is reasonable and
appropriate. As an initial matter, the Objecting Parties' faulty
narrative that the Debtor, Cobra and DOE are attempting to rush
through this case falls flat.  The Debtor negotiated with Cobra and
DOE for months to be in a position to file the Plan with the
support of its only impaired creditor.

The Debtor points out that the objecting parties do not have
standing to object to the Disclosure Statement. Here, both of the
Objecting Parties' rights (if any) are purely derivative of TSE
Holdings II, the Debtor's direct parent and the only equity holder
who is a party in interest in this case. The Delaware Court of
Chancery has already ruled that SolarReserve CSP explicitly
bargained away its direct ownership interests in the Debtor and,
based on its tenuous relationship to the Debtor, has blocked
SolarReserve CSP's repeated attempts to exercise control.

The Debtor further points out that the Disclosure Statement
contains accurate and adequate information.  Here, the Disclosure
Statement includes those categories of information necessary for
creditors to make an informed decision, including:

  - The Debtor's corporate history and structure, business
operations, prepetition capital structure and indebtedness (Art.
II(B)-(D));

  - Events leading up to the Chapter 11 Case, including details on
the negotiation of the Restructuring Support Agreement (Art.
II(E));

- Significant events in the Chapter 11 Case (Art. III);

According to Debtor, the Plan is not fatally flawed and the
objecting parties' remaining objections should be overruled at the
confirmation hearing.  Despite the fact that all of the Objecting
Parties' objections based on section 1129 of the Bankruptcy Code
are issues properly left to confirmation, the Debtor briefly
addresses each meritless objection in turn below and will be
prepared to provide a more fulsome defense at the appropriate time
-- the confirmation hearing.

The Debtor asserts that the Debtors' Disclosure Statement
Modifications in Response to the Objecting Parties.  Despite that
the Objecting Parties’ issues with the Debtor’s alleged
disclosure insufficiencies are invalid, the Debtor has made certain
additions to the Disclosure Statement in an effort to accommodate
certain of the objections raised by the Objecting Parties.

Co-Counsel to the Debtor:

     Edmon L. Morton
     Matthew B. Lunn
     Allison S. Mielke
     Jared W. Kochenash
     YOUNG CONAWAY STARGATT & TAYLOR, LLP
     Rodney Square
     1000 North King Street
     Wilmington, Delaware 19801
     Tel: (302) 571-6600
     Fax: (302) 571-1253
     E-mail: emorton@ycst.com
            mlunn@ycst.com
            amielke@ycst.com
            jkochenash@ycst.com

         - and -

     Matthew A. Feldman
     Paul V. Shalhoub
     Andrew S. Mordkoff
     Ciara A. Copell
     WILLKIE FARR & GALLAGHER LLP
     787 Seventh Avenue
     New York, NY 10019-6099
     Tel: (212) 728-8000
     Fax: (212) 728-8111
     E-mail: mfeldman@willkie.com
             pshalhoub@willkie.com
             amordkoff@willkie.com
             ccopell@willkie.com

                 About Tonopah Solar Energy

Tonopah Solar Energy, LLC owns and operates a net 110-megawatt
concentrated solar energy power plant located near Tonopah in Nye
County, Nevada. The power plant is also known as the Crescent Dunes
Solar Energy Project, which is the first utility-scale concentrated
solar power plant in the United States to be fully integrated with
energy storage technology.  

Tonopah Solar Energy sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Del. Case No. 20-11884) on July 30,
2020.  At the time of the filing, Debtor had estimated assets of
between $500 million and $1 billion and liabilities of between $100
million and $500 million.  

Judge Karen B. Owens oversees the case.

The Debtor tapped Young, Conaway, Stargatt & Taylor LLP and Willkie
Farr & Gallagher LLP as its legal counsel, Houlihan Lokey Inc. as
investment banker, and Epiq Corporate Restructuring, LLC as claims
agent and administrative advisor. FTI Consulting, Inc., provides
turnaround management services.


TONOPAH SOLAR: SolarReserve & CMB Say Plan Unconfirmable
--------------------------------------------------------
SolarReserve CSP Holdings, LLC, and CMB Infrastructure Investment
Group IX, LP objected to the motion of debtor Solar Energy, LLC,
for approval of its Disclosure Statement for Chapter 11 Plan.

SR CSP and CMB claim that the Disclosure Statement is misleading in
describing the claims against CPI and seems to suggest that such
claims would be capped at $186.3 million and are the only claims
against CPI -- this is contrary to prior positions taken by the
Debtor against CPI in which the Debtor has argued that there would
be no cap on damages against CPI because of CPI's willful
misconduct and gross negligence in connection with the EPC
Contract.

SR CSP and CMB point out that the inadequate and inaccurate
information contained in the Disclosure Statement lead to a
patently unconfirmable plan.

SR CSP and CMB assert that there is no question that the only true
beneficiaries of this rushed process are Cobra, its affiliates, and
the Debtor's managers and professionals. Such parties are
attempting to improperly use the bankruptcy process to obtain a
100% interest in the Debtor, absolve themselves of all liability
relating to the Power Plant while stripping the Debtor's equity
holders, including SR CSP, of their interests in the Debtor.

SR CSP and CMB believe that the recovery proposed under the
proposed Plan is less than what creditors would receive if the
Debtor were liquidated.

SR CSP and other equity holders being stripped of their interest,
and unsecured creditors whose source and manner of payment was not
clearly explained, bear a disproportionate burden of the risk in
the proposed Plan. In this regard, the Plan is patently
unconfirmable.

A full-text copy of SR CSP and CMB's objection to the Disclosure
Statement dated August 28, 2020, is available at
https://tinyurl.com/y5jnqwta from PacerMonitor at no charge.

Counsel for SR CSP and CMB:

        LEWIS BRISBOIS BISGAARD & SMITH LLP
        Cheneise V. Wright
        500 Delaware Avenue, Suite 720
        Wilmington, Delaware 19801
        Tel.: 302.985.6000
        E-mail: Cheneise.Wright@lewisbrisbois.com

             - and -

        Richard S. Lauter, Esq.
        LEWIS BRISBOIS BISGAARD & SMITH LLP
        550 West Adams Street, Suite 300
        Chicago, Illinois 60661
        Tel.: 312.345.1718
        E-mail: Richard.Lauter@lewisbrisbois.com

             - and -

        Vincent F. Alexander, Esq.
        LEWIS BRISBOIS BISGAARD & SMITH LLP
        110 SE 6th Street, Suite 2600
        Fort Lauderdale, Florida 33301
        Tel.: 954.728.1280
        E-mail: vincent.alexander@lewisbrisbois.com

           About Tonopah Solar Energy

Tonopah Solar Energy, LLC owns and operates a net 110-megawatt
concentrated solar energy power plant located near Tonopah in Nye
County, Nevada.  The power plant is also known as the Crescent
Dunes Solar Energy Project, which is the first utility-scale
concentrated solar power plant in the United States to be fully
integrated with energy storage technology.  

Tonopah Solar Energy sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Del. Case No. 20-11884) on July 30,
2020.  At the time of the filing, Debtor had estimated assets of
between $500 million and $1 billion and liabilities of between $100
million and $500 million.  

Judge Karen B. Owens oversees the case.

The Debtor tapped Young, Conaway, Stargatt & Taylor LLP and Willkie
Farr & Gallagher LLP as its legal counsel, Houlihan Lokey Inc. as
investment banker, and Epiq Corporate Restructuring, LLC as claims
agent and administrative advisor.  FTI Consulting, Inc., provides
turnaround management services.


TONOPAH SOLAR: Unsecureds Owed $770,000 to Recover 100% in Plan
---------------------------------------------------------------
Tonopah Solar Energy, LLC submitted an Amended Disclosure
Statement.

The estimated allowed amount of claims in the case are:

   * Class 1 Priority Non-Tax Claims: $0.
   * Class 2 Other Secured Claims: $481,863.
   * Class 3 Prepetition Note Claims: $434,684,702.
   * Class 4 General Unsecured Claims: $770,000.
   * Class 5 Existing Interests: $420,779,227.

Under the Plan, unsecured creditors owed $770,000 are unimpaired
and will recover 100 percent.  Each holder of an allowed general
unsecured claim will receive treatment that: (i) leaves unaltered
the legal, equitable, or contractual rights to which the holder of
such allowed general unsecured claim is entitled; or (ii) otherwise
leaves such claim unimpaired pursuant to section 1124 of the
Bankruptcy Code.

A full-text copy of the Amended Disclosure Statement dated
September 2, 2020, is available at https://tinyurl.com/y6533mw9
from PacerMonitor.com at no charge.


                  About Tonopah Solar Energy

Tonopah Solar Energy, LLC owns and operates a net 110-megawatt
concentrated solar energy power plant located near Tonopah in Nye
County, Nevada.  The power plant is also known as the Crescent
Dunes Solar Energy Project, which is the first utility-scale
concentrated solar power plant in the United States to be fully
integrated with energy storage technology.  

Tonopah Solar Energy sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Del. Case No. 20-11884) on July 30,
2020.  At the time of the filing, Debtor had estimated assets of
between $500 million and $1 billion and liabilities of between $100
million and $500 million.  

Judge Karen B. Owens oversees the case.

The Debtor tapped Young, Conaway, Stargatt & Taylor LLP and Willkie
Farr & Gallagher LLP as its legal counsel, Houlihan Lokey Inc. as
investment banker, and Epiq Corporate Restructuring, LLC as claims
agent and administrative advisor. FTI Consulting, Inc., provides
turnaround management services.


TOPGOLF INTERNATIONAL: S&P Places 'CCC+' ICR on Watch Positive
--------------------------------------------------------------
S&P Global Ratings placed all its ratings on driving range
entertainment company Topgolf International Inc., including the
'CCC+' issuer credit rating, on CreditWatch with positive
implications.

The CreditWatch placement follows Topgolf's entry into an agreement
with Callaway Golf Co. under which the latter will acquire the
remaining 86% of Topgolf it does not already own.  

The all-stock transaction values Topgolf at about $2 billion and is
expected to close in early 2021. Callaway shareholders will own
51.5% of the combined company, and Topgolf shareholders will own
the remaining 48.5%. Callaway will assume Topgolf's debt, which
consists of an outstanding $344 million term loan, $175 million
revolving credit facility with $160 million outstanding, and
roughly $200 million of real-estate related debt, in addition to
high lease obligations.

S&P said, "The CreditWatch placement reflects that we could raise
the rating on Topgolf due to Callaway's plan to provide ongoing
financial support for the next few years, which may improve our
view of Topgolf's liquidity and credit quality. We could also view
Topgolf's credit quality as enhanced if we determine it is
important enough strategically to Callaway that we believe Callaway
will provide extraordinary support in a stress scenario. Although
Callaway is not providing guarantees for Topgolf's debt and Topgolf
entities will be unrestricted subsidiaries, we believe the ongoing
financial support, ownership, and board structure indicate to us
that Callaway views Topgolf as important to its long-term strategy
and is unlikely to sell it."

Topgolf shareholders will own 48.5% of the combined company, and
Topgolf is expected to have three seats on the board of directors.

S&P said, "The CreditWatch also reflects our view the transaction
creates an opportunity to accelerate Topgolf's growth trajectory
and path to sustained profitability. While we do not expect Topgolf
to generate meaningful EBITDA in 2020 or 2021, we expect additional
growth opportunities funded by Callaway could result in longer-term
deleveraging at Topgolf as the company increases its EBITDA base
without the need to fund growth via leverage."

"In our view, the merger's benefits to Topgolf are clear. Topgolf
does not generate free cash flow at its current scale and relies on
external capital to increase the number of venues in its portfolio.
Through the merger, we believe Callaway will finance a significant
portion of Topgolf's venue development for the next several years
once it restarts its planned rapid expansion. The company indicated
its goal is for Topgolf to generate positive free cash flow by
2024, at which time it could become self-funding. However, this is
a long time horizon, and we expect very high variability in
potential operating results depending upon Topgolf's revenue
recovery during and following the COVID-19 pandemic, the pace of
economic and employment recovery in the U.S., and changing consumer
preferences. Callaway also has long-standing relationships with
U.S. golf courses and driving ranges, and we believe Topgolf can
leverage these relationships to accelerate growth in its Toptracer
range business, which licenses its technology to driving ranges.
Topgolf will also benefit from joint marketing efforts at Callaway
that will increase its exposure."

The transaction is expected to close in early 2021 and will require
approval from both companies' shareholders, an amendment to
Callaway's credit facilities, and regulatory approval.

S&P said, "The CreditWatch reflects the likelihood that we could
raise our ratings on Topgolf upon completion of the acquisition. We
expect to resolve the CreditWatch once we assess the impact of the
merger on the combined company's business and financial risk, and
determine the degree of Topgolf's strategic importance to Callaway
and the likelihood and extent to which Callaway will support
Topgolf on an ongoing basis and during credit stress."


TRAVEL CONCEPTS: Hires Carrasquillo as Financial Consultant
-----------------------------------------------------------
Travel Concepts, LLC, seeks authority from the U.S. Bankruptcy
Court for the District of Puerto Rico to employ Luis R.
Carrasquillo & Co., P.S.C., as financial consultant to the Debtor.

Travel Concepts requires Carrasquillo to:

   -- provide strategic counseling and advice, modeling
      preparation, financial business assistance; and

   -- assist in the preparation of documents, as requested by the
      Debtor.

Carrasquillo will be paid at these hourly rates:

     Partners                          $175
     Senior Accountants             $90 to $125
     Junior Accountants             $45 to $65
     Administrative Supports           $45

Carrasquillo will be paid a retainer in the amount of $10,000.

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

Luis R. Carrasquillo, partner of Luis R. Carrasquillo & Co.,
P.S.C., 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.

Carrasquillo can be reached at:

     Luis R. Carrasquillo
     Luis R. Carrasquillo & Co., P.S.C.
     28th Street, I -26
     Turabo Gardens, Caguas PR 00725
     Tel: (787) 746-4555
     Fax: (787) 746-4564
     E-mail: luis@cpacarrasquillo.com

                     About Travel Concepts

Travel Concepts LLC -- https://www.tws.travel -- is a travel agency
headquartered in San Juan, Puerto Rico, offering travel arrangement
and reservation services. It conducts business under the name
Travel With Sears.

Travel Concepts LLC filed its voluntary petition under Chapter 11
of the Bankruptcy Code (Bankr. D.P.R. Case No. 20-03281) on August
21, 2020.  In the petition signed by Rigo Emilio Mediavilla Varela,
president, the Debtor disclosed $3,442,184 in assets and $4,399,286
in liabilities. Charles A. Cuprill, Esq. at CHARLES A. CUPRILL, PSC
LAW OFFICES represented the Debtors.


TUESDAY MORNING: Panel Resolicitation Questionnaire Due by Nov. 4
-----------------------------------------------------------------
The United States Trustee is re-soliciting members for an unsecured
creditors committee in the bankruptcy cases of Tuesday Morning
Corporation, et al.

If a party wishes to be considered for membership on any official
committee that is appointed, it must complete a questionnaire
available at https://bit.ly/2TJtB2X and return it to the Office of
the United States Trustee no later than 4:00 p.m. (Central Standard
Time), on Wednesday, November 4, 2020, by email to
lisa.l.lambert@usdoj.gov and nancy.s.resnick@usdoj.gov, ATTN: Lisa
L. Lambert and Nancy S. Resnick.

                     About Tuesday Morning Corp.

Tuesday Morning Corporation, together with its subsidiaries, is a
closeout retailer of upscale home furnishings, housewares, gifts,
and related items. It operates under the trade name "Tuesday
Morning" and is one of the original "off-price" retailers
specializing in providing unique home and lifestyle goods at
bargain values. Based in Dallas, Tuesday Morning operated 705
stores in 40 states as of Jan. 1, 2020.  On the Web:
http://www.tuesdaymorning.com/      

On May 27, 2020, Tuesday Morning and six affiliates sought Chapter
11 protection (Bankr. N.D. Tex. Lead Case No. 20-31476).  Tuesday
Morning disclosed total assets of $92 million and total liabilities
of $88.35 million as of April 30, 2020.

The Hon. Harlin Dewayne Hale is the case judge.

The Debtors tapped Haynes and Boone, LLP as general bankruptcy
counsel; Alixpartners LLP as financial advisor; Stifel, Nicolaus &
Co., Inc. as investment banker; A&G Realty Partners, LLC as real
estate consultant; and Great American Group, LLC as liquidation
consultant. Epiq Corporate Restructuring, LLC is the claims and
noticing agent.

The Office of the U.S. Trustee appointed a committee of unsecured
creditors on June 9, 2020. The committee is represented by Munsch
Hardt Kopf & Harr, P.C.


TUPPERWARE BRANDS: Posts $34.4 Million Net Income in Third Quarter
------------------------------------------------------------------
Tupperware Brands Corporation filed with the Securities and
Exchange Commission its Quarterly Report on Form 10-Q disclosing
net income of $34.4 million on $477.2 million of net sales for the
13 weeks ended Sept. 26, 2020, compared to net income of $7.8
million on $418.1 million of net sales for the 13 weeks ended Sept.
28, 2019.

For the 39 weeks ended Sept. 26, 2020, the Company reported net
income of $90.4 million on $1.25 billion of net sales compared to
net income of $84.1 million on $1.38 billion of net sales for the
39 weeks ended Sept. 28, 2019.

"The 21 percent growth in local currency revenue reported today
reflects a rapid adoption of digital tools by our sales force to
combat the social restrictions surrounding COVID-19, and the
increased consumer demand for our innovative and environmentally
friendly products, as more consumers cook at home and are concerned
with food safety and storage," said Miguel Fernandez, president and
chief executive officer of Tupperware Brands.  "The improved
performance of both top and bottom line these past two quarters are
a positive sign that our Turnaround Plan is working."

Sandra Harris, Tupperware Brands chief financial officer and chief
operating officer said, "We are pleased with the rate of
improvement in right sizing the business, improving our liquidity
and making permanent structural changes that will ensure the
success of our Turnaround Plan."  Harris continued, "These efforts,
including sales of non-core assets, will help us continue to
improve the health of our balance sheet as we pursue the
refinancing of our June 2021 obligations."

As of Sept. 26, 2020, the Company had $1.19 billion in total
assets, $1.43 billion in total liabilities, and a total
shareholders' deficit of $244 million.

                     Liquidity and Capital Allocation

As of Sept. 26, 2020, the Company continues to be in compliance
with its financial covenants under its Credit Agreement with a debt
to Adjusted EBITDA ratio of 3.72x vs. the required covenant ratio
of 5.25x.

As part of the Turnaround Plan, the Company continued to prioritize
the use of cash for the repayment of debt and investments to right
size the business.

The 4.75% 2021 Senior Notes became a current liability in June of
2020.  The Company expects to continue to address this indebtedness
through exploring with its advisors refinancing alternatives,
including open-market purchases, future tender offers, exchange
offers of debt for debt, cash or equity, or other transactions. The
Company retired $121 million of senior notes at a discount to par
during the third quarter and $220 million year to date leaving a
balance of $380 million.

Additionally, the Company believes that improved profitability and
revenue growth through the Turnaround Plan, together with the
anticipated sale of its Orlando real estate and other non-core
assets in the near term will contribute to its ability to meet
future debt obligations.  During the year-to-date period ended
Sept. 26, 2020 the Company generated $107.8 million of cash flow
from operating activities, net of investing activities, for an
improvement of $111.9 million from last year through reductions in
discretionary spending, improvements in working capital including
inventory reductions, and reducing payroll costs, including through
organizational redesign, employee furloughs, and permanent
reductions in employee headcount.

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

https://www.sec.gov/ix?doc=/Archives/edgar/data/1008654/000100865420000133/tup-20200926.htm

                    About Tupperware Brands

Tupperware Brands Corporation -- http://www.tupperwarebrands.com--
is a global manufacturer and marketer of innovative, premium
products through social selling.  Product brands span several
categories including design-centric food preparation, storage and
serving solutions for the kitchen and home through the Tupperware
brand and beauty and personal care products through the Avroy
Shlain, Fuller Cosmetics, NaturCare, Nutrimetics and Nuvo brands.

As of June 27, 2020, the Company had $1.19 billion in total assets,
$1.47 billion in total liabilities, and a total shareholders'
deficit of $282.3 million.

                            *   *   *

As reported by the TCR on July 14, 2020, S&P Global Ratings raised
its issuer credit rating on U.S.-based Tupperware Brands Corp. to
'CCC-' from 'SD' after the company completed a tender offer for
approximately $97.6 million of its $600 million 4.75% senior
unsecured notes due June 1, 2021.

As reported by the TCR on June 1, 2020, Moody's Investors Service
downgraded Tupperware Brands Corporation's Corporate Family Rating
to Caa3 from B3.  These action follows Tupperware's May 26
announcement that it would launch a tender offer to purchase for
cash up to $175 million of its $600 million senior unsecured notes
due June 1, 2021.


UNIT CORP: David Merrill Resigns as CEO
---------------------------------------
Unit Corporation announced Oct. 27, 2020, the following changes to
its senior management team:

  * David Merrill has stepped down from his position as President
and Chief Executive Officer and has also resigned from the Board of
Directors;

  * Les Austin, the Company's Chief Financial Officer, has retired;
and

  * Frank Young has stepped down from his position as Executive
Vice President of Unit Petroleum, the Company's exploration and
production affiliate.

The board of directors (Board) has named current Chairman, Philip
Smith, to the added positions of President and Chief Executive
Officer effective immediately.  Mr. Smith was Chief Executive
Officer and Chairman of Prize Energy Corp., which he co-founded
with NGP in 1999, until the Company's merger with Magnum Hunter
Resources in 2002. Mr. Smith also served as Chief Executive Officer
and Chairman of Tide West Oil Company, and has been a member of the
board of directors of three other publicly traded companies.

The Company has hired Mr. Thomas Sell to serve as Interim Chief
Financial Officer. Mr. Sell comes from Montereau, Inc. where he has
been the Chief Financial Officer since March 2020. Before that, he
spent four years as the Chief Accounting Officer and Controller for
SemGroup Corporation. From 1996 to 2016, Mr. Sell was with Williams
Companies, Inc. where he held several different management
positions in finance and accounting. Mr. Sell was with Deloitte &
Touche from 1987 to 1996.

The Company also promoted David P. Dunham to Senior Vice President
and Chief Operating Officer. In his new role, Mr. Dunham will be
responsible for the day-to-day operations and business development
of the Company.  Mr. Dunham joined the Company in November 2007 as
its Director of Corporate Planning.  He was promoted to Vice
President of Corporate Planning in January 2012.  He has served as
the Company’s Senior Vice President of Business Development since
August 2017.

Phil Frohlich, a member of the board, said: "First and foremost, I
would like to thank David Merrill, Frank Young, and Les Austin for
their many years of service to the Company. We wish each of them
the best in the future."  Frohlich also said:  "We are excited
about adding Phil and Tom to the management team. Both bring
experience and proven track record of success that will help guide
the Company through the next chapter of its history." Frohlich went
on to say, "The promotion of Dave Dunham to Chief Operating Officer
is an important move for the Company's future success. Dave has a
great understanding of our business and has proven himself to be
ready for this next opportunity."

                      About Unit Corporation

Unit Corporation (NYSE- UNT) (OTC Pink- UNTCQ) --
http://www.unitcorp.com/-- is a Tulsa-based, publicly held energy
company engaged through its subsidiaries in oil and gas
exploration, production, contract drilling and natural gas
gathering and processing.

On May 22, 2020, Unit Corporation and five affiliates sought
Chapter 11 protection (Bankr. S.D. Tex. 20-32740) with a
pre-negotiated plan that reduces debt by $650 million.

Unit Corp. disclosed $2,090,052,000 in assets and $1,034,417,000 in
debt as of Dec. 31, 2019.

Vinson & Elkins L.L.P. is serving as legal advisor, Evercore Group
L.L.C. is serving as investment banker, and Opportune LLP is
serving as restructuring advisor to the Company. Prime Clerk LLC is
the claims agent, maintaining the page
https://cases.primeclerk.com/UnitCorporation

Weil, Gotshal & Manges LLP is serving as legal advisor and
Greenhill & Co., LLC is serving as financ


UNIT CORP: Emerged from Bankruptcy in September
-----------------------------------------------
Unit Corporation (Company) in September announced that it has
emerged from Chapter 11 bankruptcy protection. This marks the
successful completion of the Company's financial restructuring
process along with implementing the Company's Plan of
Reorganization (Plan), which was confirmed by the U.S. Bankruptcy
Court for the Southern District of Texas, Houston Division on
August 6, 2020.

"Our successful financial restructuring positions us to handle
current challenges in the oil and gas industry and realize the
potential of our Company," said David T. Merrill, President and
Chief Executive Officer. "We look forward to continuing to enhance
our financial strength and using our strengths, teamwork, and focus
to improve our performance as a Company. On behalf of the Company
and newly appointed Board of Directors, I would like to express our
gratitude to our employees for their continued hard work and
dedication during this process."

New Capital Structure

Under the Plan, the Company will complete a debt-for-equity
exchange with the holders of the Company's previous 6.625% senior
subordinated notes (Subordinated Notes) and will exchange its prior
common stock (old common stock) for warrants to purchase its new
common stock. As part of the Plan, the Company converted its
existing credit facility agented by BOKF, NA into a $140 million
reserve-based lending revolving loan and $40 million term loan,
which remains agented by Tulsa headquartered BOKF, NA and committed
by all lenders under the previous facility (the lenders).
Additionally, the Company will have significantly reduced its
unsecured debt liabilities, further bolstering its balance sheet.

Credit Facility

Under the terms of the Plan, the Company and certain subsidiaries
(Borrowers) entered into an amended and restated credit agreement
with the lenders and BOKF, NA, as administrative agent (Exit Credit
Agreement) providing for a $140 million senior secured revolving
credit facility (RBL Facility) and a $40 million senior secured
term loan facility (Term Loan Facility). The maturity date of
borrowings under the Exit Credit Agreement is March 1, 2024. As of
September 3, 2020, the Borrowers had (i) $40 million in principal
amount of Term Loans outstanding under the Term Loan Facility, (ii)
approximately $92 million in principal amount of revolving loans
outstanding under the RBL Facility and (iii) approximately $6.7
million of outstanding letters of credit.

New Common Stock

The Company will issue a total of 12 million shares of new common
stock, par value $0.01 per share. Of the total outstanding shares,
95% will be issued to holders of the Subordinated Notes and holders
of certain allowed general unsecured claims, and 5% has been issued
to the lenders under the Exit Credit Agreement.

Warrants

Under the Plan, warrants to purchase up to an aggregate of
approximately 1.8 million shares of the Company's new common stock
will be issued to holders of old common stock. The exercise price
of the warrants will be determined and the warrants will become
exercisable once all general unsecured claims are resolved. The
Company will calculate the initial exercise price per share for the
warrants, which will be set at an amount that implies a recovery by
holders of the Subordinated Notes of the $650 million principal
amount of the Subordinated Notes plus interest thereon to the May
15, 2021 maturity date of the Subordinated Notes.

New Board of Directors

A new Board of Directors was appointed upon the Company's
emergence, providing valuable expertise and experience to the
Company as it moves forward post-restructuring. The new Board of
Directors consists of seven members, including Robert Anderson,
Alan Carr, Phil Frohlich, Steven Hildebrand, David Merrill, Philip
Smith, and Andrei Verona.

Trading on an OTC Market

The Company is seeking to facilitate trading of the new common
stock on one of the OTC markets. Such market will be determined by
the Board of Directors. The Company expects to complete this
process during the 2020 fourth quarter and will publicly disclose
the results once completed.

The Company expects the debt for equity exchange and the common
stock for warrant exchange under the Plan to be completed during
the 2020 fourth quarter. More information about these Chapter 11
cases can be accessed via PACER at https://www.pacer.gov and
https://cases.primeclerk.com/UnitCorporation or by calling (877)
720-6581 (Toll-Free) or (646) 979-4412 (Local).

Vinson & Elkins L.L.P. served as legal advisor, Evercore Group
L.L.C. served as investment banker, and Opportune LLP served as
restructuring advisor to the Company.

Weil, Gotshal & Manges LLP served as legal advisor and Greenhill &
Co., LLC served as financial advisor to an ad hoc group of holders
of Subordinated Notes.

About the Company

Unit Corporation is a Tulsa-based energy company engaged through
its subsidiaries in oil and gas exploration, production, contract
drilling and natural gas gathering and processing. For more
information about Unit Corporation, visit its website at
http://www.unitcorp.com.

                       About Unit Corporation

Unit Corporation (NYSE- UNT) (OTC Pink- UNTCQ) --
http://www.unitcorp.com/-- is a Tulsa-based, publicly held energy
company engaged through its subsidiaries in oil and gas
exploration, production, contract drilling and natural gas
gathering and processing.

On May 22, 2020, Unit Corporation and five affiliates sought
Chapter 11 protection (Bankr. S.D. Tex. 20-32740) with a
pre-negotiated plan that reduces debt by $650 million.

Unit Corp. disclosed $2,090,052,000 in assets and $1,034,417,000 in
debt as of Dec. 31, 2019.

Vinson & Elkins L.L.P. is serving as legal advisor, Evercore Group
L.L.C. is serving as investment banker, and Opportune LLP is
serving as restructuring advisor to the Company.  Prime Clerk LLC
is the claims agent, maintaining the page
https://cases.primeclerk.com/UnitCorporation

Weil, Gotshal & Manges LLP is serving as legal advisor and
Greenhill & Co., LLC is serving as financial advisor to an ad hoc
group of holders of Subordinated Notes.


VALARIS PLC: Asks Court to Deny Bid to Appoint Equity Committee
---------------------------------------------------------------
Valaris plc asked the U.S. Bankruptcy Court for the Southern
District of Texas to deny the motion filed by The Buxton Helmsley
Group, Inc.'s senior managing director to appoint a committee of
equity holders in the Chapter 11 cases of the company and its
affiliates.

The company's attorney, Matthew Cavenaugh, Esq., at Jackson Walker,
LLP, said that appointing an equity committee "will do nothing but
add significant expense to and potentially delay" the bankruptcy
cases.

"The debtors are disappointed with the impact this restructuring
will have on their equity holders. But appointing an equity
committee is an extraordinary measure in any Chapter 11 case and
not justified where, as here, the debtor is hopelessly insolvent,"
Mr. Cavenaugh said in a court filing.

According to the attorney, the companies owed $7.1 billion in
funded debt obligations as of the petition date that must be
satisfied before equity holders are "in the money."

"Unfortunately, there is no scenario where that is even remotely
likely to occur," Mr. Cavenaugh said.

Accoridng to Mr. Cavenaugh, the valuation that the companies'
investment banker prepared indicates a multi-billion dollar
shortfall before equity has any value and that objective financial
data likewise indicate equity holders have no reasonable prospect
of a recovery.

On the petition date, the companies also were extremely highly
leveraged with net debt to EBITDA exceeding 240 times and had no
path to a more sustainable capital structure absent a comprehensive
balance sheet restructuring.  In addition, the companies were cash
flow negative and relying on their revolver to fund operations,
according to the attorney.

                        About Valaris plc

Valaris plc (NYSE: VAL) provides offshore drilling services. It is
an English limited company with its corporate headquarters located
at 110 Cannon St., London.  Visit http://www.valaris.com/for more
information.

On Aug. 19, 2020, Valaris and its affiliates sought Chapter 11
protection (Bankr. S.D. Tex. Lead Case No. 20-34114).  The Debtors
had total assets of $13,038,900,000 and total liabilities of
$7,853,500,000 as of June 30, 2020.

The Debtors have tapped Kirkland & Ellis LLP and Slaughter and May
as their bankruptcy counsel, Lazard as investment banker, and
Alvarez & Marsal North America LLC as their restructuring advisor.
Stretto is the claims agent, maintaining the page
http://cases.stretto.com/Valaris     

Kramer Levin Naftalis & Frankel LLP and Akin Gump Strauss Hauer &
Feld LLP serve as legal advisors to the consenting noteholders
while Houlihan Lokey Inc. serves as their financial advisor.


VICTORIA TOWERS: Case Summary & 6 Unsecured Creditors
-----------------------------------------------------
Debtor: Victoria Towers Development Corp.
        13338 Sanford Avenue
        PHB
        Flushing, NY 11355

Business Description: Victoria Towers Development Corp. is the
                      owner of fee simple title to 29
                      residential condo units located at 133-38
                      Sanford Avenue, Flushing NY having an
                      appraised value of $33.37 million.

Chapter 11 Petition Date: October 30, 2020

Court: United States Bankruptcy Court
       Eastern District of New York

Case No.: 20-73303

Judge: Hon. Robert E. Grossman

Debtor's Counsel: Fred S. Kantrow, Esq.
                  ROSEN & KANTROW, PLLC
                  38 New St
                  Huntington, NY 11743-3327
                  Tel: 631-423-8527
                  E-mail: fkantrow@rkdlawfirm.com

Total Assets: $33,370,000

Total Liabilities: $39,217,115

The petition was signed by Myint J. Kyaw, president.

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

https://www.pacermonitor.com/view/RQF2AXQ/Victoria_Towers_Development_Corp__nyebke-20-73303__0001.0.pdf?mcid=tGE4TAMA

List of Debtor's Six Unsecured Creditors:

   Entity                          Nature of Claim    Claim Amount
   ------                          ---------------    ------------
1. 41-60 Main Street LLC            29 Residential      $3,312,050
c/o Kriss & Feurstein LLP            Condo Units
380 Lexington Avenue              located at 133-28
12th Floor                         Sanford Avenue,
New York, NY 10017                   Flushing NY

2. Abrahma Lesser                      Judgment         $2,472,855
c/o Backenroth Frankel &           (plus statutory
800 Third Avenue                       interest)
11th Floor
New York, NY 10022

3. IRS                                                          $0
c/o United States Atty.
Eastern District of NY
Federal Plaza
Central Islip, NY 11722

4. NYC Dept. of Finance             29 Residential         $62,210
One Centre Street                    Condo Units
New York, NY 10007                located at 133-38
                                    Sanford Avenue,
                                     Flushing NY

5. NYS Dept. of Tax. & Fin.                                     $0
Bankruptcy Sections
P.O. Box 5300
Albany, NY 12205-030

6. Sanford Aveue                    29 Residential         Unknown
Partner LLC                          Condo Units
c/o Kravit Partners LLC           located at 133-38
79 Madison Avenue                   Sanford Avenue
2nd Floor                            Flushing NY
New York, NY 10016


VIVUS INC: Equity Committee Taps Skadden Arps as Co-Counsel
-----------------------------------------------------------
The official committee of equity security holders appointed in the
Chapter 11 cases of Vivus, Inc. and its affiliates seek approval
from the U.S. Bankruptcy Court for the District of Delaware to hire
Skadden, Arps, Slate, Meagher & Flom LLP as its co-counsel.

The firm will be exclusively responsible for matters concerning the
valuation of any net operating loss assets of the Debtors'
estates.

Skadden will seek compensation in these cases based on the
following standard hourly rates:

     Associates              $495 to $1,120
     Counsel               $1,125 to $1,325     
     Partners              $1,175 to $1,775

Mark A. McDermott, Esq., a partner at Skadden Arps, disclosed in
court filings that his firm is a "disinterested person" within the
meaning of Section 101(14) of the Bankruptcy Code.

Mr. McDermott also made the following disclosures in response to
the request for additional information set forth in Paragraph D.1
of the U.S. Trustee Guidelines:

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

     A: No.

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

     A: No.

     Q: 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.

     A: Skadden did not represent the Committee or any of its
members prepetition. Skadden's billing rates and other terms of
engagement have not changed since the inception of the
representation.

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

     A: Skadden has shared a prospective budget and staffing plan
with the client for the roughly three-month period from September
22, 2020 (the date of the Committee’s appointment) through
December 31, 2020. The client has approved the prospective budget
and staffing plan, with the understanding that there are currently
many uncertainties and the budget may need to be amended.

The firm can be reached through:

     Mark A. McDermott, Esq.
     Skadden, Arps, Slate, Meagher & Flom LLP
     One Manhattan West
     New York, NY 10001
     Telephone: (212) 735-3000
     Facsimile: (212) 735-2000
     E-mail: mark.mcdermott@skadden.com

                           About Vivus Inc

Vivus Inc -- https://www.vivus.com/ -- is a biopharmaceutical
company committed to the development and commercialization of
innovative therapies that focus on advancing treatments for
patients with serious unmet medical needs. VIVUS has three approved
therapies and one product candidate in clinical development. Qsymia
(phentermine and topiramate extended release) is approved by FDA
for chronic weight management. The Company commercializes Qsymia in
the U.S. through a specialty sales force supported by an internal
commercial team and license the commercial rights to Qsymia in
South Korea. VIVUS was incorporated in 1991 in California and
reincorporated in 1996 in Delaware. As of the Petition Date, VIVUS
is a publicly traded company with its shares listed on the Nasdaq
Global Market LLC under the ticker symbol "VVUS." The Company
maintains its headquarters in Campbell, California.

Vivus Inc and three of its affiliates sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. D. Del., Case No.
20-11779) on July 7, 2020. The petitions were signed by Mark Oki,
chief financial officer.  Hon. Laurie Selber Silverstein presides
over the cases.

As of May 31, 2020, the Debtors reported total assets of
$213,884,000 and total liabilities of $281,669,000.

Weil Gotshal & Manges LP serves as general counsel to the Debtors,
while Richards, Layton & Finger, P.A. acts as local counsel to the
Debtors. Ernst & Young is the Debtors' financial advisor, and Piper
Sandler Companies acts as investment banker. Stretto is claims and
noticing agent to the Debtors.

On September 22, 2020, the United States Trustee appointed the
official committee of equity security holders, with three members:
Bruce Makosky, Esopus Creek Value Series Fund LP - Series "A" and
Steven Chlavin.


WATERS RETAIL: Court Confirms Plan of Liquidation
-------------------------------------------------
MQ Pretty Pond, LLC and MQ Coco Plum, LLC, debtor affiliates of
Waters Retail TPA, LLC, filed with the U.S. Bankruptcy Court for
the Northern District of Texas, Dallas Division, a First Amended
Disclosure Statement for the First Amended Joint Plan of
Liquidation.

On Aug. 27, 2020, Judge Stacey G.C. Jernigan approved the First
Amended Disclosure Statement and ordered Oct. 5, 2020 is the
hearing on the confirmation of the First Amended Plan.

On Oct. 16, 2020, Judge Jernigan entered an order confirming the
Plan.

The Disclosure Statement and Plan provide for the purchase and sale
of each Debtor's Property:

   a. Contract to Purchase Pretty Pond Property.  The Disclosure
Statement included a copy of the Pretty Pond and WLN Zephyrhills,
LLC, a Florida limited liability company (as successor to WLN
Zephyrhills, LLC, a Georgia limited  liability company)
("Zephyrhills" or the "Pretty Pond Buyer") Purchase and Sale
Agreement ("Pretty Pond PSA").

   b. Auction and Sale of Coco Plum Property.  The Disclosure
Statement provided that the best way to maximize value for the
benefit of all parties was to conduct an auction and sales  process
for  the Coco Plum Property.  Coco Plum conducted an auction on
August 21, 2020 pursuant to the Bid Procedures Order.  Coco Plum
filed a Notice of successful bidder and Back-Up  Bidder and
disclosed that KIC Real Estate Services, LLC was the successful
bidder at the auction and stalking horse bidder Konover
Acquisitions Corp. was  the successful back-up bidder.  KIC
submitted a winning bid of $3,210,204 that was conditioned on its
purchase of the Coco Plum Property free and clear of any and all
liens, claims, encumbrances, and other interests.  Coco Plum and
KIC subsequently entered into a purchase and sale agreement for the
Coco Plum Property (the "Coco Plum PSA").

The Plan implements the sale of the Pretty Pond and Coco  Plum
Properties to  the Coco Plum Buyer and the Pretty Pond Buyer
(collectively the "Buyers") and the receipt of the Coco Plum
Proceeds and Pretty Pond Proceeds, as applicable, shall fund the
Plan payments for each respective case.

Counsel for the Debtors:

         Vickie L. Driver
         Christina W. Stephenson
         Seth A. Sloan
         CROWE & DUNLEVY, P.C.
         2525 McKinnon St., Suite 425
         Dallas, TX 75201
         Telephone: 214.420.2163
         Facsimile: 214.736.1762
         E-mail: vickie.driver@crowedunlevy.com
         E-mail: christina.stephenson@crowedunlevy.com
         E-mail: seth.sloan@crowedunlevy.com

                     About Waters Retail TPA

Waters Retail TPA, LLC, is a Single Asset Real Estate debtor (as
defined in 11 U.S.C. Section 101(51B)).  Waters Retail TPA, LLC,
filed its voluntary petition under Chapter 11 of the Bankruptcy
Code (Bankr. N.D. Tex. Case No. 20-30644) on Feb. 27, 2020.  In the
petition signed by Donald L. Silverman, manager, the Debtor was
estimated to have $1 million to $10 million in both assets and
liabilities.  Vickie L. Driver, Esq. at CROWE & DUNLEVY, P.C.,
represents the Debtor.


WATERS RETAIL: Diocese & Pension Object to MQs' Disclosures
-----------------------------------------------------------
Bistum Eichstätt K.d.ö.R. Finanzkammer (the Diocese) and
Emeritenanstalt des Bistums Eichstatt (the Pension and
collectively, Creditors) object to Disclosure Statement in Support
of Joint Plan of Liquidation of MQ Pretty Pond, LLC and MQ Coco
Plum, LLC, Debtor Affiliates of Waters Retail TPA, LLC.

Creditors point out that the Disclosure Statement fails to satisfy
the requirements of Section 1125. Because the Disclosure Statement
does not provide creditors with adequate information enabling them
to make an informed judgment about the Plan, approval should be
denied, or the Disclosure Statement be amended.

Creditors claim that the Disclosure Statement does not disclose
adequate information regarding the real estate owned by the
Debtors, including the seller, the purchase price paid and amounts
expended to develop the real estate parcels.

Creditors assert that the Disclosure Statement is inadequate in its
description of the classification and treatment accorded to the
various classes of claims. The Disclosure Statement itself does not
contain any breakdown, disclosure or information regarding the
various classes of claims.

Creditor further assert that the Disclosure Statement does not
provide any analysis regarding the number and amount of the
scheduled and filed unsecured claims against the Debtors.

Creditors state that the Disclosure Statement does not contain
adequate information regarding the estimated distribution to
creditors.  The Disclosure Statement should contain a waterfall
analysis reflecting the anticipated proceeds available from a sale
of the real estate parcels and the projected distribution of the
proceeds to the various classes of creditors.

A full-text copy of creditors' objection to the Disclosure
Statement dated August 13, 2020, is available at
https://tinyurl.com/y2epbj36 from PacerMonitor at no charge.

Attorneys for the Creditors:

         JACKSON WALKER L.L.P.
         Michael S. Held
         Kenneth Stohner, Jr.
         2323 Ross Avenue, Suite 600
         Dallas, Texas 75201
         Tel: (214) 953-6000
         Fax: (214) 953-5822
         E-mail: kstohner@jw.com

                   About Waters Retail TPA

Waters Retail TPA, LLC, is a Single Asset Real Estate debtor (as
defined in 11 U.S.C. Section 101(51B)).

Waters Retail TPA, LLC, filed its voluntary petition under Chapter
11 of the Bankruptcy Code (Bankr. N.D. Tex. Case No. 20-30644) on
Feb. 27, 2020.  In the petition signed by Donald L. Silverman,
manager, the Debtor was estimated to have $1 million to $10 million
in both assets and liabilities.  Vickie L. Driver, Esq. at CROWE &
DUNLEVY, P.C., represents the Debtor.


WATERS RETAIL: MQs' Unsecureds to Recover 75% in Liquidating Plan
-----------------------------------------------------------------
MQ Pretty Pond, LLC and MQ Coco Plum, LLC, Debtor Affiliates of
Waters Retail TPA, LLC, filed with the U.S. Bankruptcy Court for
the Northern District of Texas, Dallas Division, a Disclosure
Statement for the Joint Plan of Liquidation dated August 4, 2020.

The Debtors engaged LandQwest to market and ascertain the highest
and best value for each Debtor's property. After extensive
negotiations and multiple offer submissions and resubmissions from
various parties the Independent Director identified the strongest
offer for the Pretty Pond Property.

On July 6, 2020, Pretty Pond and WLN Zephyrhills, LLC executed the
Purchase and Sale Agreement providing for the sale of the Pretty
Pond property in exchange for $2,250,000 with $60,000 in Earnest
Money.

Coco Plum decided that the best way to maximize value for the
benefit of all parties is to conduct an orderly auction and sales
process for its Property. The Independent Director and LandQwest
have determined that the offer from Konover Acquisitions Corp. to
amend its pre-petition contract to purchase the Property for
$2,200,000.00 represents the highest and best offer for the
Property received as of July 10, 2020. On July 10, 2020, upon Coco
Plum and Konover executing that certain Purchase and Sale
Agreement, Coco Plum filed the Expedited Motion of MQ Coco Plum,
LLC Only for Order Approving Bidding Procedures, Break-Up Fee, and
Other Protections in Advance of Auction and Granting Related
Relief. The Court granted the requested relief on July 16, 2020.

Class 2.1.A and 2.1.B General Unsecured Claims each consist of
Allowed Unsecured Claims against the respective Debtor held by
creditors who are not insiders or affiliates of the Debtors.
Creditors holding Allowed Class 2.1 Claims will be paid 75% of
their Allowed Claims on the Effective Date.

The Class 3.A and 3.B Equity Interest Holders consist of the equity
interests held by the members of each of the Debtors. The Class 3
Equity Interest Holders' equity interests in the Debtors equaling
the total amount of such interests in each of the Debtors as of the
Petition Date shall be extinguished as of the Effective Date. Class
3 Equity Interest Holders will not receive any distributions under
the Plan.

The Plan contemplates the sale of substantially all of the each
Debtor's assets to a third party. Debtors and LandQwest marketed
the Pretty Pond Property to potential purchasers and Debtors'
Independent Director selected the highest and best offer, as
determined in the Debtors’ sole discretion and reasonable
business judgment.  The Plan contemplates the sale of the Pretty
Pond Property, and contemplates the auction and sale of the Coco
Plum Property with a Stalking Horse.

A full-text copy of the Disclosure Statement dated August 4, 2020,
is available at https://tinyurl.com/y2ej43lh from PacerMonitor.com
at no charge.

Counsel for the Debtors:
Vickie L. Driver
State Bar No. 24026886
Christina W. Stephenson
State Bar No. 24049535
Seth A. Sloan
State Bar No. 24098437
CROWE & DUNLEVY, P.C.
2525 McKinnon St., Suite 425
Dallas, TX 75201
Telephone: 214.420.2163
Facsimile: 214.736.1762
Email: vickie.driver@crowedunlevy.com
Email: christina.stephenson@crowedunlevy.com
Email: seth.sloan@crowedunlevy.com

            About Waters Retail TPA

Waters Retail TPA, LLC, is a Single Asset Real Estate debtor (as
defined in 11 U.S.C. Section 101(51B)).

Waters Retail TPA, LLC, filed its voluntary petition under Chapter
11 of the Bankruptcy Code (Bankr. N.D. Tex. Case No. 20-30644) on
Feb. 27, 2020.  In the petition signed by Donald L. Silverman,
manager, the Debtor was estimated to have $1 million to $10 million
in both assets and liabilities.  Vickie L. Driver, Esq. at CROWE &
DUNLEVY, P.C., represents the Debtor.


WEST PACE: Debtor Proposes Reorganization Plan
----------------------------------------------
West Pace, LLC, submitted a Reorganization Plan and a Disclosure
Statement.

The Debtor is reorganizing its business operations by selling
additional lots.  Also, the members of the Debtor will be
contributing additional funds to pay the claims of the two
remaining Creditors - US Bank and the Alabama Department of
Conservation.

Class 1 Administrative Claims.  The Debtor proposes to pay Fritz
Law Firm, LLC in full upon approval of the fees by the Court. The
estimated unpaid fee for services is $42,000.  The Fritz Law Firm
is holding $12,655.65 in Trust. All Quarterly Fees will be paid
current prior to the Effective Date.

Class 2 Secured Claims of US Bank. US Bank has filed a Proof of
Claim listing a secured claim in the amount of $9,837,074.  The
Debtor will pay the net proceeds of the Uhaul sale which will be
approximately $2,000,000 to US Bank on or before December 31, 2020
or 45 days after the Effective Date. The Debtor will pay $1,979,000
to US Bank on or before December 31, 2021.  These funds will be
paid by contributions made by the member of the Debtor.  The Debtor
will pay the remaining balance of the $5,521,518 to US Bank on or
before December 31, 2022. This estimated to be $797,663.

Class 3 Secured Claims of the Auburn Bank. In good faith, the debt
to Auburn Bank has been paid off by Guarantors.

Class 4 Secured Claims of BBVA Compass. In good faith, the debt to
BBVA has been paid off by Guarantors.

Class 5 Unsecured Creditor - The West Pace Village Improvement
District.  The Improvement District owes the paid Assessments to
the Cooperative District  and the Cooperative District has assigned
all of its rights to receive Assessments from the Debtor to US
Bank. The claim of the Improvement District has been addressed in
Class 2 of the Plan.

Class 6 Unsecured Creditor - Dept. of Conservation. Dept. of
Conservation filed a proof of claim in the amount of $1,669,991.
The Debtor proposes to pay the Dept. of Conservation $10,000 on or
before December 31, 2020 as full satisfaction of the debt even
though the Debtor believes that no money will be owed.

Class 7 Unsecured Creditor - Hayley Family Partnership, LTD. The
Hayley Family Partnership, LTD is an insider as defined by the Bank
and is currently owed $2,835,600.  The Hayley Family Partnership,
LTD will not receive any repayment of its debt until all of the
debts pursuant to this Plan are paid.

The Debtor produces funds to pay its creditor by selling its
Property.

A full-text copy of the Disclosure Statement dated October 7, 2020,
is available at https://tinyurl.com/yysdne4l from PacerMonitor.com
at no charge.

     Attorneys for Debtor:

     Michael A. Fritz, Sr.
     FRITZ LAW FIRM, LLC
     25 S. Court Street
     Suite 200
     Montgomery, AL 36104

                               About West Pace, LLC

West Pace, LLC is a privately held company based in Auburn,
Alabama.

West Pace, LLC, filed its voluntary petition for relief under
Chapter 11 of the Bankurptcy Code (Bankr. M.D. Ala. Case No.
20-80067) on Jan. 16, 2020. In the petition signed by Thomas M.
Hayley, managing member, the Debtor estimated $50,000 in assets and
$1 million to $10 million in liabilities. Michael A. Fritz, Sr., at
FRITZ LAW FIRM is the Debtor's counsel.


WEST PACE: Indenture Trustee Files Liquidating Plan
---------------------------------------------------
U.S. Bank National Association, solely as indenture trustee for the
Bonds (the Indenture Trustee), proposed a Combined Disclosure
Statement and Plan of Liquidation for the resolution of outstanding
Claims against debtor West Pace, LLC on October 8, 2020.

The Plan contemplates the maximization of the value of the Debtor's
assets through an auction of the real estate owned by the Debtor
and the prosecution of litigation claims against, among others, the
Debtor's principal Thomas M. Hayley.

Class 1 consists of the Indenture Trustee Secured Claim.  The
Indenture Trustee Secured Claim shall be deemed allowed in an
amount equal to the lesser of the the Indenture Trustee Total Claim
or the value of the Property as determined by a valuation of the
District Property at or before the Confirmation Hearing either by
an auction process as approved by the Court, expert witness
valuation testimony, or some combination of both.  The Indenture
Trustee Secured Claim will be satisfied by either the transfer of
the District Property to the Indenture Trustee or to the extent
that the District Property is sold to a Person other than the
Indenture Trustee or its designee, by payment in full in
immediately available funds on the closing of a sale of the
District Property.

Holders of Class 3 Allowed Unsecured Claims will each be entitled
to receive such holder's pro rata share of cash available after
payment of or reserve for Allowed Claims of this Plan the later of
the date or dates determined by the Liquidating Trustee, to the
extent there is cash available for distribution in the judgment of
the Liquidating Trustee, having due regard for the anticipated and
actual expenses, and the likelihood and timing, of the process of
liquidating or disposing of the Assets; and the date on which such
Claim becomes allowed.

Each holder of an Interest will not receive any distribution on
account of such Interest.  Each holder of an Interest shall not
receive or retain an Interest or other property or interests of the
Debtor on account of such Interest.

The Plan will be primarily funded by an auction of the District
Property. Funding may also be provided from other Trust Assets,
including Existing Debtor-Held Funds.

A full-text copy of the U.S. Bank's combined disclosure statement
and plan dated August 27, 2020, is available at
https://tinyurl.com/y3psynt3 from PacerMonitor.com at no charge.

A full-text copy of the Indenture Trustee's disclosure statement
dated October 8, 2020, is available at https://tinyurl.com/y3qbhh6o
from PacerMonitor.com at no charge.

Counsel to U.S. Bank:

         GREENBERG TRAURIG, LLP
         John D. Elrod
         3333 Piedmont Road NE, Suite 2500
         Atlanta, Georgia 30305
         Telephone: (678) 553-2259
         Facsimile: (678) 553-2269
         E-mail: elrodj@gtlaw.com

                    About West Pace, LLC

West Pace, LLC is a privately held company based in Auburn,
Alabama.

West Pace, LLC, filed its voluntary petition for relief under
Chapter 11 of the Bankurptcy Code (Bankr. M.D. Ala. Case No.
20-80067) on Jan. 16, 2020. In the petition signed by Thomas M.
Hayley, managing member, the Debtor was estimated to have $50,000
in assets and $1 million to $10 million in liabilities.  Michael A.
Fritz, Sr., at FRITZ LAW FIRM is the Debtor's counsel.


WEST PACE: Says U.S. Bank Plan Not Filed in Good Faith
------------------------------------------------------
The West Pace, LLC, submitted its objection to the Combined
Disclosure Statement and Plan of Liquidation of U.S. Bank National
Association, As Indentured Trustee ("US Bank Plan").

West Pace asserts that the US Bank Plan should not be confirmed
because it does not meet the good faith requirement set forth under
Sec. 1129(a)(3).

West Pace points out that the auction in the US Bank Plan
constitutes bad faith for the following reason:

  * The proposed auction terms set forth in the plan mirror the
auction procedures required to foreclose under State Law.

  * The US Bank Plan is also filed in bad faith in that seeks to
have the auction on the day of the confirmation hearing.

  * The procedures of the auction are purposely set to ensure that
US Bank will acquire the property for merely a credit bid.

West Pace further points out that the US Bank Plan should be
rejected pursuant to Sec. 1129(a)(7) because it  violates the "Best
Interest of Creditors" Test.

Attorney for the Debtor:

     Michael A. Fritz, Sr.
     Fritz Law Firm, LLC
     25 S. Court Street, Suite 200
     Montgomery, AL 36104
     Tel. 334-230-9790
     Fax. 334-230-9789
     E-mail: bankruptcy@fritzlawalabama.com

                        About West Pace

West Pace, LLC, is a privately held company based in Auburn,
Alabama.

West Pace, LLC, filed its voluntary petition for relief under
Chapter 11 of the Bankryptcy Code (Bankr. M.D. Ala. Case No.
20-80067) on Jan. 16, 2020. In the petition signed by Thomas M.
Hayley, managing member, the Debtor estimated $50,000 in assets and
$1 million to $10 million in liabilities.  Michael A. Fritz, Sr.,
at FRITZ LAW FIRM is the Debtor's counsel.


WHOA NETWORKS: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Four affiliates that concurrently filed voluntary petitions for
relief under Chapter 11 of the Bankruptcy Code:

    Debtor                                               Case No.
    ------                                               --------
    Whoa Networks, Inc., a Florida Corporation           20-21883
    7261 Sheridan St.
    #340
    Hollywood, FL 33024

    Whoa Networks, Inc., a Delaware Corporation          20-21884
    7261 Sheridan St.
    #340
    Hollywood, FL 33024
    
    Hipskind Technology Solutions Group, Incorporated    20-21885
    W220 22nd St.
    Suite 450
    Villa Park, IL 60181

    Platinum Systems Holdings, LLC                       20-21886
    4600 Green Bay Rd.
    Kenosha, WI 53144

Business Description: Whoa Networks is a secure cloud services
                      provider (CSP).  Whoa specializes in
                      security, compliance, cloud and enterprise
                      solutions for customers.

Chapter 11 Petition Date: October 29, 2020

Court: United States Bankruptcy Court
       Southern District of Florida

Judge: Hon. Peter D. Russin

Debtors' Counsel: Paul J. Battista, Esq.
                  GENOVESE JOBLOVE & BATTISTA, P.A.
                  100 SE 2nd St.
                  44th Floor
                  Miami, FL 33131
                  Tel: 305-349-2300
                  Email: pbattista@gjb-law.com

Whoa Networks, Inc.,
a Florida Corporation's
Estimated Assets: $1 million to $10 million

Whoa Networks, Inc.,
a Florida Corporation's
Estimated Liabilities: $10 million to $50 million

Whoa Networks, Inc.,
a Delaware Corporation's
Estimated Assets: $500,000 to $1 million

Whoa Networks, Inc.,
a Delaware Corporation's
Estimated Liabilities: $1 million to $10 million

Hipskind Technology's
Estimated Assets: $1 million to $10 million

Hipskind Technology's
Estimated Liabilities: $1 million to $10 million

Platinum Systems'
Estimated Assets: $1 million to $10 million

Platinum Systems'
Estimated Liabilities: $1 million to $10 million  

The petitions were signed by Mark Amarant, authorized officer.

Copies of the Debtors' petitions and lists of their 20 largest
unsecured creditors are available for free at PacerMonitor.com at:

https://www.pacermonitor.com/view/BNF7V6A/Whoa_Networks_Inc_a_Florida_Corporation__flsbke-20-21883__0001.0.pdf?mcid=tGE4TAMA

https://www.pacermonitor.com/view/BLMPC3Y/Whoa_Networks_Inc_a_Florida_Corporation__flsbke-20-21883__0002.0.pdf?mcid=tGE4TAMA

https://www.pacermonitor.com/view/B3JWBXQ/Whoa_Networks_Inc_a_Delaware_Corporation__flsbke-20-21884__0001.0.pdf?mcid=tGE4TAMA

https://www.pacermonitor.com/view/GFPAWFY/Whoa_Networks_Inc_a_Delaware_Corporation__flsbke-20-21884__0002.0.pdf?mcid=tGE4TAMA

https://www.pacermonitor.com/view/GWQ45RI/Hipskind_Technology_Solutions__flsbke-20-21885__0001.0.pdf?mcid=tGE4TAMA

https://www.pacermonitor.com/view/GQMSBXA/Hipskind_Technology_Solutions__flsbke-20-21885__0002.0.pdf?mcid=tGE4TAMA

https://www.pacermonitor.com/view/HDGUGAI/Platinum_Systems_Holdings_LLC__flsbke-20-21886__0001.0.pdf?mcid=tGE4TAMA

https://www.pacermonitor.com/view/HOKBNEA/Platinum_Systems_Holdings_LLC__flsbke-20-21886__0002.0.pdf?mcid=tGE4TAMA


WILDCATTER DISPOSAL: Seeks to Hire Higier Allen as Special Counsel
------------------------------------------------------------------
Wildcatter Disposal, LLC seeks approval from the U.S. Bankruptcy
Court for the Norther District of Texas to hire Higier Allen &
Lautin, P.C. as its special counsel.

Higier Allen will render the following services to the Debtor:

     (a) provide legal advice with respect to the Debtor's pending
cases and litigation matters;

     (b) prepare on behalf of the Debtor necessary legal papers in
connection with the litigation matters;

     (c) perform any and all other legal services for the Debtor;
and

     (d) perform such legal services as the Debtor may request with
respect to any litigation matter.

Prior to filing this bankruptcy case, Higier Allen received
$70,697.30 for work performed from October 16, 2018 through
September 2020, leaving a balance of $33,032.69.

Timothy P. Woods, Esq., of Higier Allen, disclosed in court filings
that the firm does not hold or represent any other known or
reasonably interest adverse to the Debtor's estates.

The firm can be reached through:

     Timothy P. Woods, Esq.
     HIEGE ALLEN & LAUTIN, P.C.
     2711 North Haskell Avenue, Suite 2400
     Dallas, TX 75204
     Telephone: (972) 716-1888

                  About Wildcatter Disposal, LLC

Irving, Texas-based Wildcatter Disposal, LLC offers remediation and
other waste management services.

Wildcatter Disposal sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. W.D. Tex. Case No. 20-32455) on September
25, 2020. The petition was signed by Randy Edwards, manager.

At the time of the filing, Debtor had estimated assets of between
$1 million and $10 million and liabilities of the same range.

Judge Harlin Dewayne Hale oversees the case.

Pronske & Kathman, P.C. is Debtor's legal counsel.


WILDCATTER DISPOSAL: Taps Pronske & Kathman as Legal Counsel
------------------------------------------------------------
Wildcatter Disposal, LLC seeks approval from the U.S. Bankruptcy
Court for the Norther District of Texas to hire Pronske &
Kathman, P.C. as its legal counsel.

The firm will render the following services:

     (a) provide legal advice with respect to the Debtor's powers
and duties;

     (b) take all necessary action to protect and preserve the
Debtor's estate;

     (c) prepare legal papers in connection with the administration
of the Debtor's estate;

     (d) assist the Debtor in preparing for and filing a disclosure
statement in accordance with section 1125 of the Bankruptcy Code;

     (e) assist the Debtor in preparing for and filing a plan of
reorganization at the earliest possible date;

     (f) perform any and all other legal services for the Debtor;
and

     (g) perform such legal services as the Debtor may request with
respect to any matter.

Pronske & Kathman will charge for time at its normal billing rates
for attorneys and legal assistants and will request reimbursement
for its out-of-pocket expenses.

On or about September 21, 2020, the firm received a retainer in the
amount of $50,000. Prior to filing this bankruptcy case, the firm
drew down $8,894 for work performed from September 21, 2020 through
September 25, 2020 in preparation of this bankruptcy filing,
leaving a retainer balance of $41,106.

Jason P. Kathman, Esq., of Pronske & Kathman, disclosed in court
filings that the firm does not hold or represent any other known or
reasonably interest adverse to the Debtor's estates.

The firm can be reached through:

     Jason P. Kathman, Esq.
     Megan F. Clontz, Esq.
     PRONSKE & KATHMAN, P.C.
     2701 Dallas Parkway, Suite 590
     Plano, TX 75093
     Telephone: (214) 658-6500
     Facsimile: (214) 658-6509
     E-mail: jkathman@pronskepc.com
             mclontz@pronskepc.com

                  About Wildcatter Disposal, LLC

Irving, Texas-based Wildcatter Disposal, LLC offers remediation and
other waste management services.

Wildcatter Disposal sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. W.D. Tex. Case No. 20-32455) on September
25, 2020. The petition was signed by Randy Edwards, manager.

At the time of the filing, Debtor had estimated assets of between
$1 million and $10 million and liabilities of the same range.

Judge Harlin Dewayne Hale oversees the case.

Pronske & Kathman, P.C. is Debtor's legal counsel.



WILLCO XII: U.S. Trustee Unable to Appoint Committee
----------------------------------------------------
The Office of the U.S. Trustee on Oct. 27 disclosed in a court
filing that no official committee of unsecured creditors has been
appointed in the Chapter 11 case of Willco XII Development, LLLP.
  
                   About Willco XII Development

Willco XII Development, LLLP filed a Chapter 11 petition (Bankr. D.
Colo. Case No. 20-16307) on Sept. 23, 2020.  The Debtor was
estimated to have $10 million to $50 million in assets and
liabilities as of the bankruptcy filing.

Judge Thomas B. Mcnamara oversees the case.

The Debtor has tapped Goff & Goff, LLC, LLC as its legal counsel,
EasonLaw, LLC as litigation counsel, and Shaw & Associates as
accountant.


WRENCH GROUP: Moody's Rates $100MM Term Loan Add-On 'B2'
--------------------------------------------------------
Moody's Investors Service assigned a B2 rating to Wrench Group
LLC's $100 million add-on to its first lien senior secured term
loan facility. Pro forma for the proposed $100 million add-on,
Wrench Group's debt to LTM EBITDA at September 30, 2020 would rise
to 6.8x. There are no changes to Wrench Group's existing ratings,
including its B3 Corporate Family Rating, B3-PD Probability of
Default Rating, and the B2 rating on the company's existing credit
facilities. The outlook remains stable.

"With this $100 million term loan add-on, Wrench Group increases
its ability to execute its bolt-on acquisition strategy and
ultimately reduce its leverage metric through EBITDA growth," said
Scott Manduca, a Moody's VP-Senior Analyst.

The B2 rating assigned to the $100 million add-on to the first lien
senior secured term loan is the same as the existing first lien
term loan due to its equivalent priority ranking.

Assignments:

Issuer: Wrench Group LLC

$100 million add-on to the First Lien Senior Secured Credit
Facility, Assigned B2 (LGD3)

RATINGS RATIONALE

Wrench Group's B3 Corporate Family Rating reflects the company's
high financial leverage, aggressive acquisition strategy, risks
inherent to financial sponsor ownership, relatively small scale
compared to other service companies, and highly competitive
fragmented market environment. The rating also reflects the
non-discretionary nature of Wrench Group's home repair services
(primarily heating, ventilation & air conditioning (HVAC))
providing steady demand and a track record of organic revenue
growth throughout the economic cycle, the company's ability to
de-lever through acquisition and earnings growth, and its position
as a larger player in the home services space with stronger
geographical and customer diversification relative to smaller,
local competitors.

The stable outlook reflects Moody's expectation that Wrench Group
will balance its growth through acquisition strategy with
de-levering the balance sheet.

Following this transaction, Wrench Group's liquidity will be
supported by $128 million of cash, in addition to, availability
under the company's $45 million revolver. Moody's expects most of
the company's cash to be directed toward bolt-on acquisitions as
the company typically maintains a cash balance closer to $25
million.

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

The rating could be upgraded if:

  -- Adjusted debt to EBITDA is sustained below 5.5x

  -- EBITA to interest is sustained above 3.0x

  -- Good liquidity is maintained

  -- The company maintains a more conservative financial policy

The rating could be downgraded if:

  -- Adjusted debt to EBITDA is sustained above 6.5x

  -- EBITA to interest is sustained below 1.0x

  -- Liquidity deteriorates

The principal methodology used in this rating was Business and
Consumer Service Industry published in October 2016.

Headquartered in Marietta, Georgia, Wrench Group, LLC through its
subsidiaries, operates as a provider of home repair services for
heating, ventilation and air conditioning, plumbing, water quality,
and electrical equipment to residential customers across six major
metropolitan areas in the U.S. The company is majority-owned by
Leonard Green & Partners.


WRENCH GROUP: S&P Alters Outlook to Negative, Affirms 'B' ICR
-------------------------------------------------------------
S&P Global Ratings revised its outlook on U.S.-based heating,
ventilation and air conditioning (HVAC) and plumbing service
provider Wrench Group LLC to negative from stable. The rating
agency affirmed its 'B' issuer credit rating on the company and its
'B' issue-level rating on the company's debt.

Wrench Group plans to issue a $100 million incremental first-lien
term loan and add the cash from this term loan to its balance sheet
to fund future acquisitions. S&P assigned its 'B' issue-level
rating and '3' recovery rating to the proposed incremental term
loan.

The proposed incremental term loan will significantly raise the
company's leverage, which--along with its increasingly aggressive
financial policy--could cause it to sustain leverage above S&P's
downgrade threshold. Wrench Group has accelerated its acquisition
strategy and spent more than $115 million on acquisitions so far in
2020 (excluding potential future earn-out payments), which it
funded with the proceeds from the $75 million delayed draw term
loan it issued in 2019, an equity contribution from its financial
sponsor owner, and cash from its balance sheet.

S&P said, "We expect the company to remain acquisitive and
anticipate it will use the proceeds from the proposed $100 million
incremental first-lien term loan to prefund unspecified future
acquisitions. We estimate that Wrench's pro forma gross leverage is
in the high-7x when including the contributions from its already
completed acquisitions. Under our base-case forecast, we assume the
company's leverage improves significantly to the low- to mid-6x
area in 2021 if it uses the proceeds from the proposed incremental
term loan to make acquisitions at a similar average multiple as the
other transactions it completed this year and reports continued
good organic growth and modest margin expansion. In addition, we
forecast that Wrench's EBITDA interest coverage and free cash flow
generation in 2021 will be in line with that of its similarly rated
peers, which underscores our decision to affirm the rating."

However, S&P believes the company's aggressive pace of acquisitions
could hinder its deleveraging and cause it to sustain leverage
above its 7x downgrade threshold, especially if it continues to
prefund large acquisitions with debt. Wrench paid higher purchase
multiples for the majority of the acquisitions it completed in 2020
than it paid for its acquisitions over the previous few years. To
continue acquiring companies at these multiples without increasing
its leverage, Wrench cannot fund them entirely with debt.
Therefore, the company will have to supplement the proceeds from
its debt issuances with internally generated cash flow or equity
contributions from its financial sponsor.

Wrench has a short history as a consolidated company and a limited
track record of integrating a large stream of acquisitions at once.
From its creation in 2016 through 2019, the company completed four
material acquisitions without spending more than $50 million on
acquisitions in a single year. However, in 2020 Wrench completed
six acquisitions for well over $100 million.

S&P said, "We expect the company to remain acquisitive in the near
term as it attempts to increase its scale and geographic diversity
in its highly fragmented industry. We believe management has
historically mitigated its integration risk by keeping the local
brand and leadership of most of its targets in place. In addition,
it has not typically relied on cutting costs to achieve synergies.
Wrench's annual restructuring and integration costs have been
modest and its acquired businesses have continued to perform well
post acquisition. However, if the company continues to acquire
businesses at this aggressive pace, it will be susceptible to
operational missteps, especially if it doesn't fully integrate its
previously acquired companies. We believe Wrench may need to devote
more resources toward bringing newly acquired companies onto its
platform and integrating them with its systems, which could
potentially increase its integration costs."

Wrench Group's good market position and non-discretionary services
have strengthened its operating performance despite the adverse
economic conditions. Nonetheless, it is a small player in a highly
competitive and fragmented industry. The company increased its
organic revenue by 14% through the first three quarters of 2020
despite the COVID-19 pandemic and related economic downturn.
Because people are spending more time at home due to social
distancing measures, S&P believes HVAC, plumbing, and electrical
services have become even more essential. Wrench's scale, including
its greater service flexibility and financial resources for
advertising and technology, provide it with some competitive
advantages over the many small, family-owned companies it competes
against. However, it is still small relative to its other rated
competitors, including HVAC and plumbing service provider American
Residential Services (ARS), which has twice the annual revenue.

S&P said, "In addition, while the company operates brands that hold
the No. 1 positions in a few markets and at least a top-five
position in all others, its business is heavily concentrated in
only a few southern U.S. states. Specifically, Wrench derives more
than 60% of its revenue from just three metropolitan areas. We
believe the company competes primarily on the quality of its
service, which requires it to employ a sufficient number of
qualified technicians. It is our understanding that Wrench's
employee retention rates are stronger than those of the rest of the
industry, which could mitigate some of this risk."

"The negative outlook reflects the possibility that we will lower
our rating on Wrench over the next 12 months if we believe it will
sustain leverage of more than 7x, EBITDA interest coverage in the
mid-1x area, or its free cash flow declines materially relative to
our forecast levels."

Specifically, S&P could downgrade Wrench if:

-- It has difficulty integrating its acquired companies; or

-- It maintains its current pace of debt-funded acquisitions
without first reducing its leverage.

It is unlikely S&P will raise its ratings on Wrench given its
financial sponsor ownership and our forecast that its leverage will
remain high due to its acquisition strategy. However, S&P would
consider raising its ratings if:

-- The company reduces its leverage below 5x; and

-- S&P believes the company and its owners are committed to a
financial policy consistent with maintaining its leverage at this
level.


YOGAWORKS INC: U.S. Trustee Appoints Creditors' Committee
---------------------------------------------------------
The U.S. Trustee for Regions 3 and 9 on Oct. 27, 2020, appointed a
committee to represent unsecured creditors in the Chapter 11 cases
of YogaWorks, Inc. and Yoga Works, Inc.

The committee members are:

     1. Daniela Caesar-Roden
        Attn: Aaron Gundzik
        14011 Ventura Blvd., Suite 206E
        Sherman Oaks, CA 91423
        Phone: (213) 542-2135
        Fax: (818) 918-2316
        aaron.gundzik@gghllp.com

     2. Marin Country Mart LLC
        Attn: James Rosenfield
        921 Montana Ave.
        Santa Monica, CA 90403
        Phone: (310) 458-6682
        Fax: (310) 458-6681
        jrosenfield@jsrosenfield.com

     3. AKF3 Valencia, LLC
        Attn: Bruce Kassman
        800 Brickell Ave., Suite 701
        Miami, FL 33131
        Phone: (954) 993-3800
        bkassman@adler-partners.com

     4. Barjen Realty Trust
        U/D/T of Sept. 1, 1981
        Attn: Arnold Zenker
        301 Wellesley St.
        Weston, MA 02493
        Phone: (781) 891-0313

     5. Elizabeth B. Kulemin,
        Trustee of the Elizabeth Brophy Kulemin Trust Agreement    

        Trustee of the Brophy-Kulemin Trust I
        Attn: Jeff Deaton
        230 California Ave., Suite 212
        Palo Alto, CA 94306
        Phone: (650) 857-0117
        Fax: (650) 852-0361
        jdeaton@alhousedeaton.com
  
Official creditors' committees serve as fiduciaries to the general
population of creditors they represent.  They may investigate the
debtor's business and financial affairs. Committees have the right
to employ legal counsel, accountants and financial advisors at a
debtor's expense.

             About YogaWorks Inc. and Yoga Works Inc.

YogaWorks, Inc. is a leading provider of progressive and quality
yoga that promotes total physical and emotional well-being.  It
caters to students of all levels and ages with both traditional and
innovative programming.  YogaWorks is also an international
teaching school, cultivating the richest yoga talent from around
the globe and setting the gold standard for teaching. For more
information on YogaWorks, visit http://www.yogaworks.com/

YogaWorks and Yoga Works, Inc. sought Chapter 11 protection (Bankr.
D. Del. Lead Case No. 20-12599) on Oct. 14, 2020.

In the petition signed by CEO Brian Cooper, YogaWorks was estimated
to have $1 million to $10 million in assets and $10 million to $50
million in liabilities.

The Debtors have tapped Shulman Bastian Friedman & Bui LLP as
restructuring counsel, Cozen O'Connor as Delaware restructuring
counsel, and Force Ten Partners, LLC as financial advisor.  BMC
Group, Inc., is the claims agent.


YOUNGEVITY INTERNATIONAL: Board OKs Appointment of New Auditor
--------------------------------------------------------------
The Audit Committee of the Board of Directors of Youngevity
International, Inc. approved the appointment of MaloneBailey, LLP
as its new independent registered public accounting firm
responsible for auditing its financial statements.  During the
Company's two most recent fiscal years ended Dec. 31, 2019 and
2018, and the subsequent interim period through Oct. 25, 2020,
neither the Company, nor anyone on its behalf, consulted with
MaloneBailey regarding either: (i) the application of accounting
principles to a specified transaction, either completed or
proposed, or the type of audit opinion that might be rendered on
the Company's financial statements, and neither a written report
nor oral advice was provided to the Company that was an important
factor considered by the Company in reaching a decision as to the
accounting, auditing or financial reporting issue; or (ii) any
matter that was either the subject of a disagreement as defined in
Item 304(a)(1)(iv) of Regulation S-K or a reportable event as
described in Item 304(a)(1)(v) of Regulation S-K.

                       About Youngevity

Chula Vista, California-based Youngevity International, Inc. --
https://ygyi.com/ -- is a multi-channel lifestyle company operating
in three distinct business segments including a commercial coffee
enterprise, a commercial hemp enterprise, and a multi-vertical omni
direct selling enterprise.  The Company features a multi country
selling network and has assembled a virtual Main Street of products
and services under one corporate entity, YGYI offers products from
the six top selling retail categories: health/nutrition,
home/family, food/beverage (including coffee), spa/beauty,
apparel/jewelry, as well as innovative services.

Youngevity reported a net loss attributable to common stockholders
of $23.50 million for 2018 following a net loss attributable to
common stockholders of $12.69 million for 2017.  As of Sept. 30,
2019, the Company had $141.18 million in total assets, $85.01
million in total liabilities, and $56.17 million in total
stockholders' equity.

Mayer Hoffman McCann P.C., in San Diego, California, the Company's
auditor since 2011, issued a "going concern" qualification in its
report dated April 15, 2019, on the consolidated financial
statements for the year ended Dec. 31, 2018, citing that the
Company has recurring losses and is dependent on additional
financing to fund operations.  These conditions raise substantial
doubt about the Company's ability to continue as a going concern.


YOUNGEVITY INTERNATIONAL: W. Thompson Named Chief Financial Officer
-------------------------------------------------------------------
William G. Thompson resigned from the Board of Directors of
Youngevity International, Inc. and as a member and chairman of the
Audit Committee to accept the position of chief financial officer
of the Company.  In connection with Mr. Thompson's appointment,
David S. Briskie was appointed chief investment officer of the
Company and resigned as the Company's chief financial officer.  Mr.
Briskie also retains his title as the Company's president.

Mr. Thompson's and Mr. Briskie's resignations were not a result of
any disagreement with the Company on any matter relating to the
Company's operations, policies or practices.

Mr. Thompson, age 59, had served on the Company's Board of
Directors since June 10, 2013.  He most recently served from March
2013 to September 2019 as chief financial officer of Broadcast
Company of the Americas, a radio station operator in San Diego,
California.  He served as corporate controller for the Company from
2011 to March 2013 and for Breach Security, a developer of web
application firewalls, from 2007 to 2010.  Prior to 2007, Mr.
Thompson was divisional controller for Mediaspan Group and chief
financial officer of Triathlon Broadcasting Company.

As chief financial officer, Mr. Thompson will receive a base salary
of $200,000 a year and will be eligible to receive an annual bonus
as may be determined by the Company.

On Oct. 27, 2020, Daniel Dorsey was appointed to the Board of
Directors of the Company to fill the vacancy created by Mr.
Thompson's resignation.  The appointment of Mr. Dorsey, which is
effective immediately, means that the size of the Board will remain
at five members.  Mr. Dorsey will serve on the Audit Committee and
his term as a director will continue until such time as his
successor is duly elected and qualified, or until his earlier
resignation or removal.  There are no family relationships between
Mr. Dorsey and any of the Company's directors or executive officers
and Mr. Dorsey has no direct or indirect material interest in any
transaction required to be disclosed pursuant to Item 404(a) of
Regulation S-K.  Mr. Dorsey will receive the Company's standard
non-cash compensation as a non-employee director.

                        About Youngevity

Chula Vista, California-based Youngevity International, Inc. --
https://ygyi.com/ -- is a multi-channel lifestyle company operating
in three distinct business segments including a commercial coffee
enterprise, a commercial hemp enterprise, and a multi-vertical omni
direct selling enterprise.  The Company features a multi country
selling network and has assembled a virtual Main Street of products
and services under one corporate entity, YGYI offers products from
the six top selling retail categories: health/nutrition,
home/family, food/beverage (including coffee), spa/beauty,
apparel/jewelry, as well as innovative services.

Youngevity reported a net loss attributable to common stockholders
of $23.50 million for 2018 following a net loss attributable to
common stockholders of $12.69 million for 2017.  As of Sept. 30,
2019, the Company had $141.18 million in total assets, $85.01
million in total liabilities, and $56.17 million in total
stockholders' equity.

Mayer Hoffman McCann P.C., in San Diego, California, the Company's
auditor since 2011, issued a "going concern" qualification in its
report dated April 15, 2019, on the consolidated financial
statements for the year ended Dec. 31, 2018, citing that the
Company has recurring losses and is dependent on additional
financing to fund operations. These conditions raise substantial
doubt about the Company's ability to continue as a going concern.


ZERO ENERGY: Odyssey Buying Boulder Hangar for $670K
----------------------------------------------------
Zero Energy Aviation, LLC, asks the U.S. Bankruptcy Court for the
District of Colorado to authorize the sale of the hangar located at
the Boulder Municipal Airport, legally described as Parcel B-5 Lot
2 Airport South Replat C Located in the Southeast Quarter of
Section 21, Township 1 North, Range 70 West of the 6th P.M. City of
Boulder, County of Boulder State of Colorado or as amended by title
company, survey or City of Boulder, also known as No. 3304 Airport
Road, Boulder, Colorado, to Odyssey Live, LLC for $670,000.

On the Petition Date, Debtor owned the Hangar.  

The Hangar is under the Contract to Buy and Sell Real Estate to the
Buyer for $670,000 with a closing date scheduled to take place on
Nov. 14, 2020.  

The Debtor does not own the real property upon which the Hangar is
situated.  Rather, it is leasing the land from the City of Boulder
pursuant to a 30-year ground lease executed on June 1, 2018, which
was amended on Dec. 9, 2019.  On the Petition Date the Debtor was
current and not in default on its obligations under the Ground
Lease.

Based upon the sales price and estimated payoff that the Debtor has
received from the secured creditor, AMG National Trust Bank, it
projects that after payment of the outstanding mortgage, real
estate commissions, and other costs of sale, that it will receive
net proceeds of approximately $141,500.

Shortly prior to the filing of the Motion, the Buyer submitted its
application to the City of Boulder seeking its consent to the
assignment of the Ground Lease, and its application includes
adequate assurance of the Buyer's future performance.   

While the Contract obliges the Debtor to ask the City of Boulder's
consent to its assumption and assignment of the Ground Lease,
pursuant to the terms of the Ground Lease the City of Boulder may
not unreasonably withhold its consent to such assignment.

Based on the foregoing, the Debtor asks the Court to authorize (i)
it to pay the outstanding balance on the existing mortgage and the
customary costs of closing, including its pro rata share of real
property taxes, title insurance premium(s), broker's commissions
and other similar expenses at the closing of such sale; (ii) its
assumption of the Ground Lease; and (iii) its assignment of the
Ground Lease to the Buyer.

Upon information and belief, the Buyer has obtained financing which
is valid through the projected closing date.  In order for the
Debtor to close on a sale by the date, it asks that the Court
suspends the 14-day stay imposed by operation of Fed.R.Bankr.P.
6004(h).   

A copy of the Agreement is available at
https://tinyurl.com/y3hqanpx from PacerMonitor.com free of charge.

                   About Zero Energy Aviation

Zero Energy Aviation, LLC, filed a Chapter 11 bankruptcy petition
(Bankr. D. Colo. Case No. 20-15279) on Aug. 5, 2020, disclosing
under $1 million in both assets and liabilities.  The Debtor is
represented by GOFF & GOFF, LLC.


[*] 2nd Cir. Affirms Flip Provisions in Swap Agreements
-------------------------------------------------------
Douglas Mintz and Daniel Rubens of Orrick, Herrington & Sutcliffe
LLP wrote an article on JDSupra titled "Second Circuit Affirms
Enforceability of Flip Provisions in Swap Agreements Under
Bankruptcy Code Safe Harbor."

For over a decade, Lehman Brothers Special Financing ("LBSF") has
been litigating the enforceability of so-called "flip clauses" in
connection with the post-bankruptcy liquidation of swap agreements.
These clauses, which are common in structured financing
transactions, specify the priority of payments when a swap provider
(like LBSF) is in default. In particular, these clauses purport to
subordinate the swap provider's payment priority below that of
noteholders when termination payments are owed due to the
provider’s default.

When LBSF's holding company (Lehman Brothers Holdings Inc.) filed a
chapter 11 petition in September 2008, that filing placed LBSF in
default under various swap agreements to which LBSF was a party. In
a 2010 complaint involving 44 synthetic collateralized debt
obligations ("CDOs") that LBSF created, LBSF sought to claw back
over $1 billion that had been distributed to noteholders in
connection with the early termination of swap transactions, arguing
that the flip clauses in those transactions were ipso facto
provisions and therefore unenforceable. (Ipso facto clauses are
contractual provisions that modify a debtor’s contractual rights
solely because it petitioned for bankruptcy; the Bankruptcy Code
generally treats such provisions as unenforceable.) The noteholders
defended the distributions on various grounds, including by
invoking the safe harbor codified in section 560 of the Bankruptcy
Code, which exempts "swap agreements" from the Bankruptcy Code’s
prohibition of ipso facto clauses.[1]

In two earlier cases involving similar CDOs, the judge originally
presiding over Lehman's bankruptcy (Bankruptcy Judge James M. Peck)
had treated the flip provisions as unenforceable ipso facto clauses
and deemed them to fall outside of the section 560 safe harbor. See
Lehman Bros. Holdings Inc. v. BNY Corp. Tr. Servs. Ltd., 422 B.R.
407 (Bankr. S.D.N.Y. 2010); Lehman Bros. Special Fin. Inc. v.
Ballyrock ABS CDO 2007-1 Ltd., 452 B.R. 31 (Bankr. S.D.N.Y. 2011).
In this case, however, Bankruptcy Judge Shelley C. Chapman
disagreed, concluding, inter alia, that even assuming the flip
provisions should be treated as ipso facto clauses, they were
nonetheless enforceable under the section 560 safe harbor. Lehman
Bros. Special Fin. Inc. v. Bank of Am. Nat’l Ass’n (553 B.R.
476 (Bankr. S.D.N.Y. 2016)). On appeal, District Judge Lorna G.
Schofield affirmed that ruling. 2018 WL 1322225 (S.D.N.Y. Mar. 14,
2018). LBSF again appealed, and on August 11, 2020, a Second
Circuit panel affirmed in a per curiam opinion. 2020 WL 4590247 (2d
Cir. Aug. 11, 2020).

The Second Circuit began its analysis by noting the safe harbor's
purpose when enacted in 1990—"to protect the stability of swap
markets and to ensure that swap markets are not destabilized by
uncertainties regarding the treatment of their financial
instruments under the Bankruptcy Code," id. at *5 (internal
quotation marks omitted)—as well as a 2005 amendment that
broadened the definition of “swap agreement" to include virtually
all derivatives. Against that background, the court of appeals
readily rejected LBSF’s arguments against the safe harbor's
application.

First, even though the flip clauses were set forth in indentures
(as opposed to the swap agreements themselves), the court held the
provisions were sufficiently incorporated into the swap agreements
by reference. Second, the court held that section 560’s reference
to "liquidation" was broad enough to encompass the distribution of
collateral under the flip clauses. Third, the court deemed it
irrelevant for purposes of the safe harbor that indenture trustees
(as opposed to the noteholders themselves) were the parties that
exercised the right to liquidate.

For these reasons, the court held that the safe harbor protected
the distributions pursuant to the flip clauses. Although the Court
grounded its holding primarily on the statutory text and features
of the synthetic CDO transactions at issue, it noted that its
conclusion was consistent with section 560's legislative history,
which reflects Congress's intent "to protect a swap participant's
ability to unwind the swap transaction" and concerns about
protecting market stability. Id. at *7. In that regard, this
holding is consistent with Second Circuit decisions interpreting
other bankruptcy safe harbor provisions broadly in order to
minimize the risk of market disruption. See, e.g., In re Tribune
Co. Fraudulent Conveyance Litig, 946 F.3d 66, 92 (2d Cir. 2019).

This ruling may bring to an end a 12-year saga that has played out
before numerous judges in the U.S. and England (UK Supreme Court
Upholds "Flip" Clauses). Unless LBSF obtains further review from
the Second Circuit en banc or the U.S. Supreme Court, all courts
within the Second Circuit must treat flip clauses in CDO
transactions like these as enforceable under the section 560 safe
harbor. More broadly, this ruling reinforces the deference courts
provide to safe-harbored agreements and the provisions of those
agreements. Parties should generally expect courts to continue
granting wide protections to non-debtor counter-parties in
safe-harbored transactions.

[1] In relevant part, section 560 provides:

The exercise of any contractual right of any swap participant or
financial participant to cause the liquidation, termination, or
acceleration of one or more swap agreements because of a condition
of the kind in section 365(e)(1) of this title [the prohibition on
ipso facto clauses] or to offset or net out any termination values
or payment amounts arising under or in connection with the
termination, liquidation, or acceleration of one or more swap
agreements shall not be stayed, avoided, or otherwise limited by
operation of any provision of this title or by order of a court or
administrative agency in any proceeding under this title.




[*] Bankruptcy FAQ: Options for Distressed Businesses
-----------------------------------------------------
Mike Hall and Michael Herz of Fox Rothschild LLP wrote an article
titled "Bankruptcy FAQ: Options Facing Distressed Businesses."

The following are questions and answers that a distressed company
considering insolvency options, including a potential bankruptcy
filing, may find useful.

Q: What is the difference between Chapter 11 and Chapter 7
bankruptcy?

A: Chapter 11 can be used by companies to reorganize, including
restructuring debt. Upon filing for Chapter 11, the debtor, as
“debtor-in-possession” will be in control of the process.
However, a committee representing the unsecured creditors in the
case may be formed, and it is possible that a trustee, who would
take over operations from the debtor, may be appointed at a later
stage depending on how the case progresses. As a long as a trustee
has not been appointed, the debtor may continue to operate and
conduct business as usual during the bankruptcy process. The debtor
must file a plan of reorganization, setting forth how it will
restructure and how the various classes of creditors will be
treated, including to the extent they will receive distributions of
funds. The debtor's plan is subject to review and objection by all
parties in interest, including creditors, the unsecured creditors
committee (if there is one) and the United States Trustee.
Importantly, through Chapter 11, a company may be able to shed or
reduce debt obligations, including by rejecting burdensome leases
and executory contracts, or revising collective bargaining
agreements and retiree contracts. A debtor has a limited amount of
time to propose and confirm a plan, after which time another party
may propose a competing plan for creditors to consider.

Often, a company will utilize Chapter 11 to conduct an orderly sale
of substantially all or a portion of its assets. Sales typically
include an auction process in order to find the highest and best
purchaser. Bankruptcy also allows sales to be "free and clear" of
liens and liabilities. The sale process can therefore be used to
find a purchaser that will continue all or part of the debtor’s
business free of the liabilities that hindered the debtor. Chapter
11 can also be a complete liquidation of the debtor's business
without a going concern emerging from the bankruptcy.

Chapter 7, in contrast, is strictly a liquidation process, in which
a trustee is appointed shortly after the bankruptcy filing and will
oversee the liquidation of the debtor's assets, pursue potential
claims, and make distributions to creditors. The debtor will cease
operating upon the bankruptcy filing except to the extent a trustee
determines limited operations are needed to orderly wind-down the
company.

Q: What is the bankruptcy "automatic stay?"

A: In both Chapter 7 and Chapter 11, an "automatic stay" is put
into effect at the time of filing. The automatic stay prohibits
creditors from taking action against the debtor to collect or
enforce a pre-bankruptcy debt from the debtor, including against
property of the debtor. For instance, the filing of a bankruptcy
will stay a pending foreclosure sale. As such, a bankruptcy can be
used to provide a debtor with a “breathing spell” from
creditors, and provide time in a Chapter 11 case for a debtor to
develop a restructuring plan while protecting its assets.

Creditors, however, may request relief from the automatic stay from
the bankruptcy court so that they may enforce their rights. For
instance, a creditor may seek relief so that it can collect its
collateral or resume a judicial proceeding against the debtor. In
instances in which the creditor is seeking to enforce its rights as
to collateral, the debtor will have to show that the creditor is
adequately protected, either because the value of the collateral is
in excess of the amount of the creditor's claim, or because the
debtor can make sufficient payments or provide other value, such as
a replacement lien, to the creditor.

The automatic stay does not usually apply to non-debtor third
parties, such as a guarantor or co-obligor on a debt, although in
certain situations the debtor may request that the automatic stay
be extended to third parties as a necessary part of the debtor’s
ability to reorganize under Chapter 11.

Q: Is there a difference in costs between Chapter 7 and Chapter
11?

A: Generally, yes. While each situation is unique, there can be
significant difference in costs between filing Chapter 7 and
Chapter 11. In both instances, there will be attorney's fees for
preparing the debtor's bankruptcy petition and schedules, with the
costs varying depending on the size and complexity of the debtor's
business and financial dealings. The preparation fees are paid
prior to the bankruptcy filing. Once a Chapter 7 petition is filed,
the administration of the bankruptcy estate is in the hands of the
trustee, and a debtor's attorney's work greatly diminishes or
ceases.

The filing of a Chapter 11 petition, however, depending on the
company, may require the retention of additional professionals to
effectively prepare the bankruptcy petition, including accountants
and/or financial advisors. Further, given that the debtor is
effectively in control of the bankruptcy process, and may continue
to operate, the debtor will need to retain its attorneys and other
professionals as part of the bankruptcy, and the professional fees
incurred following the bankruptcy filing will be paid on periodic
basis as an administrative expense in the bankruptcy case as
approved by the bankruptcy court, a time period that spans months
or even years.

Q: Are there any special bankruptcy options for a small business
that does not want to liquidate in Chapter 7?

A: Congress recently amended the Bankruptcy Code to include special
provisions for small businesses with up to $2,725,625 of total debt
(secured and unsecured, non-contingent and non-insider) to file
under Subchapter V of Chapter 11, effective February 19, 2020. In
these cases, a trustee will be appointed to oversee the bankruptcy
process, including to facilitate a consensual plan of
reorganization. The presence of a trustee, along with the
elimination of a disclosure statement, a creditors’ committee and
U.S. Trustee fees, and the broader ability to cram down a plan on a
faster track, will improve efficiencies, reduce costs and allow
more debtors to maintain possession in small business Chapter 11
cases. The CARES Act, passed in the wake of COVID-19, will
temporarily (for one year) raise the debt threshold for these
Subchapter V small business cases to $7,500,000, almost tripling
the number of businesses that can take advantage of this tool for
quicker and cheaper reorganizations.

Q: What should a debtor do in preparation for a Chapter 11
bankruptcy?

A: Organize Books and Records: The debtor should organize its books
and records as best as possible, as such will save time and expense
in preparing for and during the bankruptcy process. The more
organized the company is, the less work professionals will have to
do to prepare the bankruptcy filing.

Obtain DIP Financing: The debtor may need to obtain
"debtor-in-possession" financing in order to operate in bankruptcy
while it attempts to reorganize. If needed, the debtor should
negotiate the terms of the financing prior to the filing.

Find a Stalking Horse Bidder: If the debtor is seeking to sell a
signification portion of its assets through a bankruptcy, it should
attempt to procure a "stalking horse" bidder prior to filing, as
doing so can help expedite the auction and sale process during
bankruptcy. This many necessitate the hiring of a third party to
market the company's assets.

Employees: Companies should be mindful of potential implications of
the Worker Adjustment and Retraining Act (the WARN Act). The WARN
Act requires employers with at least 100 employees to provide 60
days advance notice of any plant closings and mass layoffs. If a
company falls under the WARN Act and it is not complied with, it
may face claims for violating the Act.

Q: What happens to a company’s creditors in bankruptcy?

A: It depends on the nature of a creditor’s interest. Secured
creditors will have rights in their collateral, but a debtor may
attempt to restructure the debt obligation, particularly if a
secured creditor has a subordinate claim to collateral and the
collateral may not be of sufficient value to fully secure the
amount due the creditor. If a creditor has "priority," as defined
by Section 507 of the Bankruptcy Code (e.g. taxing authorities, a
portion of employees' salaries), they stand in line behind secured
creditors. Next in line are general unsecured creditors (e.g.
utilities, vendors) and last in line are stockholders. Generally,
creditors in a category down the line only recover on their claims
if the group of creditors before it is paid in full.

Q: What happens to employees when a company files for bankruptcy?

A: In a Chapter 7 case, the company will cease operating at the
time of bankruptcy filing if has not already (although a trustee
may seek to maintain a limited staff to wind-down the company). The
employees will therefore be unemployed and will have priority
claims for any unpaid wages, salaries and commissions, earned
within 180 days before the bankruptcy filing and up $10,000.

If a company continues to operate after filing Chapter 11, it may
seek authority to continue to pay its employees in the normal
course and may also seek to continue certain retirement or pension
plans, though downsizing may be a part of the reorganizing process.
The debtor, however, may also seek to terminate retirement and
pension plans.

Q: What if a debtor wants to assume a lease or executory contract
in Chapter 11?

A: A debtor can assume a lease or executory contract in Chapter 11,
as well as assign an assumed lease or executory contract to a
purchaser. In order to assume a lease or contract, all amounts due
under the lease or contract must be "cured." In order to assign an
assumed lease or contract, the prospective purchaser will have to
provide adequate assurance to the counterparty that it can fulfill
the lease or contract's obligations.

Q: What other things should a company be mindful of in considering
a bankruptcy filing?

A: Exposure for Third Parties: As noted above, the automatic stay
does not protect third parties. While a bankruptcy filing may
provide the debtor with a breathing spell, it may also result in a
creditor turning its focus to a non-debtor guarantor or co-obligor
on a debt.

Potential "Insider' Liability: To the extent "insiders" of a debtor
received payment or benefits beyond their regular salary during the
prior year, those individuals may be subject to "preference" claims
to avoid and recover those amounts. For a corporate debtor,
"insiders" include directors, officers, persons in control of the
debtor, general partners and relatives of a general partner,
director, officer or person in control of the debtor.

Insiders and others may also be subject to fraudulent transfer
claims to the extent they received value from the debtor without
providing reasonably equivalent value in return. The Bankruptcy
Code allows such claims to go back two years, but state court
statutes may provide longer lookback periods.

Additionally, directors and officers of a debtor may be subject to
claims to the extent an alleged breach of fiduciary duty
precipitated the debtor's need to file for bankruptcy.

Preference Claims Against Critical Creditors: Creditors may be
subject to preference claims for payments they received during the
90 days prior to the bankruptcy filing. Such claims could make a
creditor reluctant to continue dealing with a debtor that is
continuing to operate in Chapter 11, and this could be a particular
concern to a debtor if the creditor provides critical goods or
services for the debtor's business.

Creditors may have defenses to preference claims, including if (i)
the payment was intended as a contemporaneous exchange for new
value provided by the creditor; (ii) if the payment was consistent
with the ordinary course of dealings between the parties prior to
the bankruptcy (e.g. was made for a consistent amount and/or at
consistent intervals) or was made consistent with customary
industry practices; or (iii) the creditor provided new value to the
debtor after the asserted preferential payment was made.

Q: What are potential alternatives to bankruptcy filing?

A: There are several potential alternatives to bankruptcy,
depending on the situation. Possible alternatives include:

Obtaining New Financing (or Refinancing): Interest rates are
currently very favorable, making it easier for a company to take on
a new obligation (or refinancing an existing obligation) in an
attempt to infuse the company with capital and stave off an
insolvency proceeding.
Obtaining an SBA Loan: The new stimulus bill, the CARES Act,
includes significant and broader funding for SBA loans, granting
companies with 500 or less employees access to loans that were in
many cases previously unavailable. The new law also includes
various industry-specific relief (e.g. airlines, hospitality,
healthcare, etc.), and a company considering bankruptcy should
review the CARES Act to assess if it may eligible for any special
relief.

Workouts: A company can attempt to negotiate with its creditors to
restructure the amount or repayment terms of the debt. Given the
current circumstances, in the wake of COVID-19, creditors may be
more flexible.

Composition Agreement: In an attempt work out a more global
resolution of its debts, a company may try to negotiate a
Composition Agreement with several of its creditors that would
provide the creditors with pro-rata payments as part of a wholesale
simultaneous restructuring of its debt to various creditors.

Assignments for Benefit of Creditor (ABCs): Although not available
in all states, ABCs are essentially state law versions of a
bankruptcy liquidation. In an ABC, the debtor/assignor, assigns the
company's assets to an assignee, who then liquidates the assets and
makes distributions to creditors. An assignee is similar to a
bankruptcy trustee in many respects, although the debtor/assignor
can select the assignee.

Dissolution: A company can be dissolved pursuant to state law.


[*] Commercial Bankruptcies Soar by 78% in September 2020
---------------------------------------------------------
David Cross and Brian Day, writing for Pasadena Now, report that
commercial bankruptcy filings spiked in September 2020 as the
pandemic and its accompanying restrictions continued to keep the
pressure on businesses, especially smaller ones, according to
industry data.

At the Hahn & Hahn law firm in Pasadena, Dean Rallis, who heads up
the firm's bankruptcy and restructuring group, said he's seen it
himself.

"I would say the increase is probably at least 50 percent over
filings last year, and it may be expected to go even higher than
that," said Rallis.

"Based upon my observations, I do see a significant uptick in
commercial bankruptcy filings, both Chapter 7 and Chapter 11," he
said.

"I also get reports from a national organization I belong to, which
also confirms that on a national basis, the bankruptcy filings for
businesses have increased significantly over the last year," Rallis
said.

An analysis released earlier this month by legal services firm Epiq
showed a 78 percent spike in commercial Chapter 11 filings in
September with 747 documented bankruptcy filings, compared with 420
in September 2019.

Looking at the first three quarters of 2020, commercial Chapter 11
bankruptcies were up 33 percent over last year, nationally, with
5,529 filings recorded, Epiq said in a written statement.

Smaller businesses were taking the biggest hit, according to Epiq
Managing Director of Corporate Restructuring Deirdre O’Connor.

"After a slower August, we see an increase in Chapter 11 filings in
September, both month over month and year over year," said
O'Connor.

"These commercial filings are primarily small businesses that do
not have access to capital or stimulus," she said.

"Unfortunately, those bankruptcies will continue to rise in the
current economic environment," O'Connor said.  "For the largest
companies, opportunistic investors are providing much-needed
capital to supplement the lending capabilities of more constrained
traditional banks. However, the most over-leveraged distressed
companies could succumb to a formal restructuring due to lack of
credit support and overall sector decline."

Non-commercial bankruptcies, however, have seen a steady decline
through the COVID-19 pandemic, said Epiq AACER Senior Vice
President Chris Kruse.

"Regulatory programs have effectively kicked the can down the
street by injecting liquidity into the market, delaying new
bankruptcy filings," said Kruse.

But not all businesses that shut down file for bankruptcy, so the
figures do not represent the total number of shuttered businesses,
said Hahn & Hahn Managing Partner Chris Kerns.

"Bankruptcy is a very expensive process and sometimes there aren't
enough assets to even be able to do it if you need to do it. So
there are other ways to do it. For instance, an assignment for the
benefit of creditors can be done. Or just working out your debts
with your creditors," Kerns said.

"Clients are loath to file bankruptcy. They really want to hold on.
I've had definitely a few times where their financial advisers and
legal advisers are saying you need to file bankruptcy. And they're
saying, 'No, we want to pull this off. We want to cover our debts,"
said Kerns.  "Sometimes there's no other alternative."

Kerns said she feared the situation would worsen before it
improved.

"I think the longer this goes, the more companies are more
precarious and just aren't going to make it," she said.  "You need
a crystal ball to see exactly where that goes, but it's not looking
good."

Rallis shared a similar outlook, adding that another surge in the
COVID-19 pandemic still poses the threat of inflicting further
economic damage.

"I do expect that there's going to be an uptick in bankruptcy
filings in the near term, and it's probably going to last for at
least a couple of years.  It's going to take a while to recover,"
he said.


[^] BOND PRICING: For the Week from October 26 to 30, 2020
----------------------------------------------------------

  Company                     Ticker  Coupon Bid Price   Maturity
  -------                     ------  ------ ---------   --------
24 Hour Fitness Worldwide     HRFITW   8.000     1.254   6/1/2022
24 Hour Fitness Worldwide     HRFITW   8.000     1.254   6/1/2022
AMC Entertainment Holdings    AMC      5.750     7.049  6/15/2025
AMC Entertainment Holdings    AMC      6.125     5.850  5/15/2027
AMC Entertainment Holdings    AMC      5.875     6.232 11/15/2026
American Airlines 2013-1
  Class B Pass
  Through Trust               AAL      5.625    92.000  1/15/2021
American Airlines 2014-1
  Class B Pass
  Through Trust               AAL      4.375    59.419  10/1/2022
American Energy-
  Permian Basin LLC           AMEPER  12.000     1.389  10/1/2024
American Energy-
  Permian Basin LLC           AMEPER  12.000     1.389  10/1/2024
American Energy-
  Permian Basin LLC           AMEPER  12.000     1.389  10/1/2024
BPZ Resources                 BPZR     6.500     3.017   3/1/2049
Basic Energy Services         BASX    10.750    21.500 10/15/2023
Basic Energy Services         BASX    10.750    20.627 10/15/2023
Blue Ridge Bankshares         BRBS     6.750    96.256  12/1/2025
Blue Ridge Bankshares         BRBS     6.750    96.256  12/1/2025
Bristow Group Inc/old         BRS      6.250     6.104 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    36.793  12/1/2023
CEC Entertainment             CEC      8.000     5.000  2/15/2022
Calfrac Holdings LP           CFWCN    8.500     8.734  6/15/2026
Calfrac Holdings LP           CFWCN    8.500     8.734  6/15/2026
Callon Petroleum Co           CPE      6.250    40.252  4/15/2023
Callon Petroleum Co           CPE      6.125    36.831  10/1/2024
Callon Petroleum Co           CPE      6.375    23.175   7/1/2026
Callon Petroleum Co           CPE      8.250    29.265  7/15/2025
Callon Petroleum Co           CPE      6.125    38.000  10/1/2024
Callon Petroleum Co           CPE      6.125    35.625  10/1/2024
Chesapeake Energy Corp        CHK     11.500    15.500   1/1/2025
Chesapeake Energy Corp        CHK      5.500     5.200  9/15/2026
Chesapeake Energy Corp        CHK      6.625     4.875  8/15/2020
Chesapeake Energy Corp        CHK      5.750     4.620  3/15/2023
Chesapeake Energy Corp        CHK      8.000     5.000  6/15/2027
Chesapeake Energy Corp        CHK     11.500    14.280   1/1/2025
Chesapeake Energy Corp        CHK      7.000     5.000  10/1/2024
Chesapeake Energy Corp        CHK      4.875     5.375  4/15/2022
Chesapeake Energy Corp        CHK      8.000     5.500  1/15/2025
Chesapeake Energy Corp        CHK      7.500     5.063  10/1/2026
Chesapeake Energy Corp        CHK      8.000     4.596  3/15/2026
Chesapeake Energy Corp        CHK      8.000     4.596  3/15/2026
Chesapeake Energy Corp        CHK      8.000     5.401  1/15/2025
Chesapeake Energy Corp        CHK      8.000     4.596  3/15/2026
Chesapeake Energy Corp        CHK      8.000     4.963  6/15/2027
Chesapeake Energy Corp        CHK      8.000     4.963  6/15/2027
Chesapeake Energy Corp        CHK      8.000     5.401  1/15/2025
Chinos Holdings               CNOHLD   7.000     0.332       N/A
Chinos Holdings               CNOHLD   7.000     0.332       N/A
Corning                       GLW      7.000   118.448  5/15/2024
Dean Foods Co                 DF       6.500     1.275  3/15/2023
Dean Foods Co                 DF       6.500     1.042  3/15/2023
Diamond Offshore Drilling     DOFSQ    7.875     7.250  8/15/2025
Diamond Offshore Drilling     DOFSQ    5.700     7.000 10/15/2039
Diamond Offshore Drilling     DOFSQ    4.875     7.000  11/1/2043
Diamond Offshore Drilling     DOFSQ    3.450     7.000  11/1/2023
ENSCO International           VAL      7.200     5.750 11/15/2027
EnLink Midstream Partners LP  ENLK     6.000    43.125       N/A
Energy Conversion Devices     ENER     3.000     7.875  6/15/2013
Energy Future Competitive
  Holdings Co LLC             TXU      1.016     0.072  1/30/2037
Exela Intermediate LLC /
  Exela Finance Inc           EXLINT  10.000    29.638  7/15/2023
Exela Intermediate LLC /
  Exela Finance Inc           EXLINT  10.000    30.260  7/15/2023
Extraction Oil & Gas          XOG      7.375    25.000  5/15/2024
Extraction Oil & Gas          XOG      5.625    25.000   2/1/2026
Extraction Oil & Gas          XOG      7.375    24.530  5/15/2024
Extraction Oil & Gas          XOG      5.625    24.230   2/1/2026
FTS International             FTSINT   6.250    31.500   5/1/2022
Federal Farm Credit Banks
  Funding Corp                FFCB     2.600    99.253  11/5/2029
Federal Farm Credit Banks
  Funding Corp                FFCB     3.250    98.903  11/2/2032
Federal Home Loan Banks       FHLB     2.520    99.158  11/6/2029
Ferrellgas Partners LP /
  Ferrellgas Partners
  Finance Corp                FGP      8.625    18.000  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 Corp  FTR     10.500    42.750  9/15/2022
Frontier Communications Corp  FTR      7.125    39.875  1/15/2023
Frontier Communications Corp  FTR      7.625    42.500  4/15/2024
Frontier Communications Corp  FTR      8.750    42.000  4/15/2022
Frontier Communications Corp  FTR      6.250    40.125  9/15/2021
Frontier Communications Corp  FTR      9.250    39.000   7/1/2021
Frontier Communications Corp  FTR     10.500    41.353  9/15/2022
Frontier Communications Corp  FTR     10.500    41.353  9/15/2022
GNC Holdings                  GNC      1.500     1.342  8/15/2020
General Electric Co           GE       5.000    82.000       N/A
Global Eagle Entertainment    GEENQ    2.750     0.500  2/15/2035
Global Marine                 GLBMRN   7.000    19.924   6/1/2028
Goodman Networks              GOODNT   8.000    53.000  5/11/2022
Great Western Petroleum
  LLC / Great Western
  Finance Corp                GRTWST   9.000    58.440  9/30/2021
Great Western Petroleum
  LLC / Great Western
  Finance Corp                GRTWST   9.000    58.205  9/30/2021
Guitar Center                 GTRC    13.000    44.831  4/15/2022
Hertz Corp/The                HTZ      6.250    43.125 10/15/2022
Hi-Crush                      HCR      9.500     3.933   8/1/2026
Hi-Crush                      HCR      9.500     7.180   8/1/2026
High Ridge Brands Co          HIRIDG   8.875     2.914  3/15/2025
High Ridge Brands Co          HIRIDG   8.875     2.914  3/15/2025
HighPoint Operating Corp      HPR      7.000    23.245 10/15/2022
HighPoint Operating Corp      HPR      8.750    22.241  6/15/2025
ION Geophysical Corp          IO       9.125    70.110 12/15/2021
ION Geophysical Corp          IO       9.125    70.365 12/15/2021
ION Geophysical Corp          IO       9.125    70.365 12/15/2021
ION Geophysical Corp          IO       9.125    70.365 12/15/2021
Inn of the Mountain Gods
  Resort & Casino             INNMTN   9.250    97.143 11/30/2020
Integrys Holding              WEC      4.170    99.790  11/1/2020
International Wire Group      ITWG    10.750    88.548   8/1/2021
International Wire Group      ITWG    10.750    88.548   8/1/2021
J Crew Brand LLC / J Crew
  Brand Corp                  JCREWB  13.000    54.902  9/15/2021
JC Penney Corp                JCP      6.375     0.150 10/15/2036
JC Penney Corp                JCP      5.650     0.795   6/1/2020
JC Penney Corp                JCP      5.875    30.625   7/1/2023
JC Penney Corp                JCP      7.625     0.580   3/1/2097
JC Penney Corp                JCP      7.400     0.690   4/1/2037
JC Penney Corp                JCP      8.625     2.250  3/15/2025
JC Penney Corp                JCP      5.875    29.935   7/1/2023
JC Penney Corp                JCP      8.625     2.500  3/15/2025
JC Penney Corp                JCP      6.900     0.271  8/15/2026
JCK Legacy Co                 MNIQQ    6.875     0.558  3/15/2029
JCK Legacy Co                 MNIQQ    7.150     0.490  11/1/2027
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     1.509 10/15/2025
K Hovnanian Enterprises       HOV      5.000    11.023   2/1/2040
K Hovnanian Enterprises       HOV      5.000    11.023   2/1/2040
LSC Communications            LKSD     8.750    16.063 10/15/2023
LSC Communications            LKSD     8.750    15.874 10/15/2023
Lehman Brothers Holdings      LEH      6.000     0.480  7/20/2029
Liberty Media Corp            LMCA     2.250    46.625  9/30/2046
Lonestar Resources America    LONE    11.250    13.500   1/1/2023
Lonestar Resources America    LONE    11.250    13.190   1/1/2023
MAI Holdings                  MAIHLD   9.500    16.417   6/1/2023
MAI Holdings                  MAIHLD   9.500    16.417   6/1/2023
MAI Holdings                  MAIHLD   9.500    16.417   6/1/2023
MBIA Insurance Corp           MBI     11.497    28.371  1/15/2033
MBIA Insurance Corp           MBI     11.497    28.371  1/15/2033
MF Global Holdings Ltd        MF       9.000    15.625  6/20/2038
MF Global Holdings Ltd        MF       6.750    15.625   8/8/2016
Mashantucket Western
  Pequot Tribe                MASHTU   7.350    16.376   7/1/2026
Men's Wearhouse Inc/The       TLRD     7.000     1.500   7/1/2022
Men's Wearhouse Inc/The       TLRD     7.000     1.534   7/1/2022
NWH Escrow Corp               HARDWD   7.500    40.625   8/1/2021
NWH Escrow Corp               HARDWD   7.500    40.625   8/1/2021
Nabors Industries             NBR      5.750    26.981   2/1/2025
Nabors Industries             NBR      0.750    25.500  1/15/2024
Nabors Industries             NBR      5.500    47.257  1/15/2023
Nabors Industries             NBR      5.750    27.313   2/1/2025
Nabors Industries             NBR      5.750    27.336   2/1/2025
Neiman Marcus Group LLC/The   NMG      7.125     4.228   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     14.000    27.250  4/25/2024
Neiman Marcus Group
  LTD LLC / Neiman Marcus
  Group LLC / Mariposa
  Borrower / NMG              NMG      8.750     5.160 10/25/2024
Neiman Marcus Group
  LTD LLC / Neiman Marcus
  Group LLC / Mariposa
  Borrower / NMG              NMG      8.000     4.123 10/25/2024
Neiman Marcus Group
  LTD LLC / Neiman Marcus
  Group LLC / Mariposa
  Borrower / NMG              NMG      8.750     5.160 10/25/2024
Nine Energy Service           NINE     8.750    27.920  11/1/2023
Nine Energy Service           NINE     8.750    29.359  11/1/2023
Nine Energy Service           NINE     8.750    29.781  11/1/2023
Northern Trust Corp           NTRS     3.450    99.899  11/4/2020
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    20.000  3/15/2022
Oasis Petroleum               OAS      6.875    25.000  1/15/2023
Oasis Petroleum               OAS      2.625    19.625  9/15/2023
Oasis Petroleum               OAS      6.500    20.100  11/1/2021
Oasis Petroleum               OAS      6.250    25.000   5/1/2026
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    66.029   6/1/2021
Party City Holdings           PRTY     6.125    38.249  8/15/2023
Party City Holdings           PRTY     6.125    38.249  8/15/2023
Peabody Energy Corp           BTU      6.000    45.708  3/31/2022
Peabody Energy Corp           BTU      6.375    30.263  3/31/2025
Peabody Energy Corp           BTU      6.375    29.747  3/31/2025
Peabody Energy Corp           BTU      6.000    45.379  3/31/2022
PepsiCo                       PEP      3.125   100.007  11/1/2020
Pride International LLC       VAL      7.875     8.150  8/15/2040
Pride International LLC       VAL      6.875     6.263  8/15/2020
Prudential Financial          PRU      2.986    99.486  11/2/2020
Renco Metals                  RENCO   11.500    24.875   7/1/2003
Revlon Consumer Products      REV      5.750    30.587  2/15/2021
Revlon Consumer Products      REV      6.250     8.476   8/1/2024
Reynolds American             BATSLN   4.000   105.634  6/12/2022
Reynolds American             BATSLN   3.250   104.501  11/1/2022
Rolta LLC                     RLTAIN  10.750     4.452  5/16/2018
SESI LLC                      SPN      7.125    20.680 12/15/2021
SESI LLC                      SPN      7.750    22.387  9/15/2024
SESI LLC                      SPN      7.125    22.073 12/15/2021
Sable Permian Resources
  Land LLC / AEPB
  Finance Corp                AMEPER   7.125     0.771  11/1/2020
Sable Permian Resources
  Land LLC / AEPB
  Finance Corp                AMEPER   7.125     0.771  11/1/2020
SandRidge Energy              SD       7.500     0.500  2/15/2023
Sears Holdings Corp           SHLD     6.625     3.419 10/15/2018
Sears Holdings Corp           SHLD     6.625     3.419 10/15/2018
Sears Roebuck Acceptance      SHLD     7.500     0.809 10/15/2027
Sears Roebuck Acceptance      SHLD     6.500     1.039  12/1/2028
Sears Roebuck Acceptance      SHLD     6.750     0.403  1/15/2028
Sears Roebuck Acceptance      SHLD     7.000     0.554   6/1/2032
Sempra Texas Holdings Corp    TXU      5.550    13.500 11/15/2014
Senseonics Holdings           SENS     5.250    30.000  1/15/2025
Senseonics Holdings           SENS     5.250    45.750   2/1/2023
Summit Midstream Partners LP  SMLP     9.500    16.000       N/A
TerraVia Holdings             TVIA     5.000     4.644  10/1/2019
Tesla Energy Operations       TSLAEN   3.600    99.643  11/5/2020
Tilray                        TLRY     5.000    40.250  10/1/2023
Toys R Us                     TOY      7.375     1.845 10/15/2018
Transworld Systems            TSIACQ   9.500    27.000  8/15/2021
Ultra Resources Inc/US        UPL     11.000     5.125  7/12/2024
Voyager Aviation Holdings
  LLC / Voyager Finance Co    VAHLLC   9.000    49.029  8/15/2021
Voyager Aviation Holdings
  LLC / Voyager Finance Co    VAHLLC   9.000    50.188  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
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Monthly Operating Reports are summarized in every Saturday edition
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then-ending.

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Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,
Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
Fernandez, Christopher G. Patalinghug, and Peter A. Chapman, Editors.

Copyright 2020.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $975 for 6 months delivered via
e-mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Peter A.
Chapman at 215-945-7000.

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