/raid1/www/Hosts/bankrupt/TCR_Public/210303.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Wednesday, March 3, 2021, Vol. 25, No. 61

                            Headlines

1900 ORCHARD: Voluntary Chapter 11 Case Summary
ABB/CON-CISE OPTICAL: Moody's Completes Review, Retains Caa1 CFR
ADVANCED POWER: Unsecured Creditors Will Recover 1.22% in Plan
AE HOTEL: Case Summary & 7 Unsecured Creditors
ALPHA MEDIA: Has Final OK on $115MM DIP Loan, Cash Collateral Use

ALTO TOWNHOMES: Voluntary Chapter 11 Case Summary
ANGLIN CULTURED STONE: Can Use Cash Collateral Through April 6
ANTARA SYSTEMS: Jimdi Plastics Hits Chapter 11 Bankruptcy
ANTARA SYSTEMS: Stipulation on Cash Collateral Access OK'd
APOLLO COMMERCIAL: Moody's Rates $300MM Term Loan B Add-on 'Ba2'

ARCHDIOCESE OF NEW ORLEANS: Sex Abuse Claims Grow as Deadline Nears
ARCONIC CORP: Moody's Rates New $300MM Second Lien Notes
ARETE LAND: Seeks to Hire Diaz & Larsen as Legal Counsel
ARMAOS PROPERTY: Granted Cash Collateral Access Thru March 31
ATIS GROUP: Seeks to Restructure Under CCAA

AVERY ASPHALT: Has Until March 20 to Use Cash Collateral
AVERY ASPHALT: Seeks Approval to Hire Wadsworth Garber as Counsel
BARETTE OUTDOOR: Moody's Hikes Rating on First Lien Loan to B2
BELK INC: Moody's Lowers PDR to D-PD/LD Following Chapter 11 Filing
BLANK LABEL: Gets Interim Cash Collateral Access

BOSTON DONUTS: Allowed to Use Cash Collateral Until April 30
BOUCHARD TRANSPORTATION: U.S. Trustee Appoints Committee
BOY SCOUTS: Committees' Challenge Period Extended to March 12
BOY SCOUTS: Releases Plan to Deal With Sexual Abuse Claims
BRAZOS ELECTRIC: Creditors Line Up to Collect $2.87 Billion Claims

BREWSA BREWING: Unsecured Creditors to Recover 10% in Plan
CALAIS REGIONAL: Committee Plan Has $654K to Pursue Suits
CALLON PETROLEUM: Swings to $2.5 Billion Net Loss in 2020
CANCER GENETICS: Inks Second Amendment to StemoniX Merger Agreement
CARLA'S PASTA: Has Final OK on DIP Loan, Cash Collateral Access

CARLA'S PASTA: Seeks to Hire Cowen and Company as Investment Banker
CASTEX ENERGY: Returns to Chapter 11 for Wind-Down
CHENIERE ENERGY: Fitch Alters Outlook on 'BB' IDR to Positive
CHENIERE ENERGY: Moody's Gives Ba2 Rating on $1BB Unsecured Notes
CMC II LLC: Case Summary & 30 Top Unsecured Creditors

CMG CAPITAL: Case Summary & 3 Unsecured Creditors
COUNTRY FRESH: U.S. Trustee Appoints Creditors' Committee
COVIA HOLDINGS: Moody's Assigns First Time B3 Corp Family Rating
CPI CARD: Moody's Upgrades CFR to B3 Amid Solid Positioning
DEGROFF RX: Can Use Cash Collateral Until April 24

DENARDO CAPITAL: Seeks to Hire Kirby Aisner as Legal Counsel
EAGLE HOSPITALITY: Bank of America Seeks Case Dismissal
EASTMAN KODAK: Gets Fresh Funds from Kennedy Lewis to Rework Debt
EDGEWELL PERSONAL: Moody's Rates New $500M Unsecured Notes 'Ba3'
EVERGREEN MORTGAGE: Hires Keller Williams as Real Estate Broker

FIRST TO THE FINISH: U.S. Trustee Unable to Appoint Committee
FXI HOLDINGS: Moody's Affirms B3 CFR & Alters Outlook to Stable
GATEWAY FOUR: Court Allows Cash Collateral Use on Final Basis
GIBSON FARMS: Cash Collateral Use Allowed Until June 30
GO DADDY: New $800M Incremental Debt No Impact on Moody's Ba2 CFR

GOLDEN STATE: Moody's Completes Review, Retains B2 CFR
GRAHAM PACKAGING: Moody's Rates New First Lien Term Loan 'B1'
GRAN TIERRA: Swings to $778 Million Net Loss in 2020
GREEN MOUNTAIN: Allowed to Use Cash Collateral on Final Basis
GYPSUM RESOURCES: Seeks Authority to Use Rep-Clark Cash Collateral

H.R.P. II: Gets OK to Hire A&G Realty Partners as Auctioneer
H.R.P. II: Gets OK to Hire McColly Real Estate as Broker
HALS REALTY: Trustee Taps Berger and Fisher as Special Counsel
HERTZ CORP: Gets Court Approval to Sell Donlen to Athene
HILLENBRAND INC: Fitch Rates $350MM Unsec. Notes Due 2031 'BB+'

HOLLISTER CONSTRUCTION: Can Use Cash Collateral Until March 12
HORIZON THERAPEUTICS: Upsized Loan No Impact on Moody's Ba2 CFR
IMAGEWARE SYSTEMS: Appoints Lauren Anderson as Director
INGLESIDE AT KING FARM: Fitch Alters Outlook on 2017 Debt to Stable
INPIXON: Amends Nanotron Share Sale and Purchase Agreement

INTERPACE BIOSCIENCES: Accepted for Trading on OTCQX
INTERSTATE COMMODITIES: Gets OK to Hire The Vant Group as Broker
ION GEOPHYSICAL: Inks First Amendment to Rights Agreement with BGP
JUDGIN TRANSPORTATION: Taps David Freydin as Corporate Counsel
JUDGIN TRANSPORTATION: Taps Gutnicki LLP as Bankruptcy Counsel

KOSMOS ENERGY: Moody's Affirms B2 CFR & Rates Unsecured Notes Caa1
KUTTER GROUP: Gets OK to Hire Sanford Lea as Accountant
LANAI HOLDINGS III: Moody's Completes Review, Retains Caa2 CFR
LDG001 LLC: Southern Star Says Plan Not Feasible
LEADVILLE CORP: Hutchins, Weepah Plans Set for April 22 Hearing

LIGHTSTONE GENERATION: Moody's Lowers Secured Loans Rating to 'B1'
LIQUID TECH: Moody's Assigns First Time B3 Corp. Family Rating
LOUISIANA-PACIFIC CORP: Moody's Rates $350MM Unsecured Notes 'Ba2'
LSC COMMUNICATIONS: Court Confirms Liquidating Plan
MARRONE BIO: Annual Meeting Set for May 26

MARTIN CARPENTER'S: Seeks to Hire Buddy D. Ford as Legal Counsel
MCGEHEE PARK: Seeks Approval to Hire Litigation Counsel
MERCY HOSPITAL: Seeks to Hire Epiq as Claims Agent
METRONOMIC HOLDINGS: Gets OK to Hire Pack Law as Co-Counsel
MIDWEST PHYSICIAN: Moody's Affirms B2 CFR Following Refinancing

MISSOURI JACK: Gets OK to Tap Reliable Companies as Service Agent
MNM LLC: Seeks to Hire Riggi Law as Bankruptcy Counsel
MOBITV INC: Case Summary & 30 Largest Unsecured Creditors
MOBITV INC: To Continue Sale Process While in Chapter 11
MONOTYPE IMAGING: Moody's Gives B3 Rating to New $80M Loan Add-on

MOTELS OF SUGAR: Cash Collateral Access OK'd Thru March 9
MY FL MANAGEMENT: Seeks to Tap Karlinsky & Golub as Accountant
NATURALSHRIMP INC: Inks $12.5M Deal to Acquire Hydrenesis Assets
NINE WEST: Insurers Lost Defense Restitution Bid in $120-Mil. Row
NO IFS MONTCLAIR: Subchapter V Plan Confirmed by Judge

NORTHWEST CAPITAL: Taps Colliers International as Real Estate Agent
OAKSHIRE MUSHROOM: Gets Cash Collateral Access Thru March 27
ONATAH FARMS: Gets Cash Collateral Access Thru March 27
ORANGE CAPITAL: Shehu's Bid to Compel Cash Use Denied
OWENS & MINOR: Moody's Completes Review, Retains B1 CFR

PAPER SOURCE: Case Summary & 30 Largest Unsecured Creditors
PERATON CORP: Moody's Rates $3.7BB First Lien Term Loan 'B1'
PHH MORTGAGE: Moody's Assigns B2 Rating to $400MM Secured Debt
PHILADELPHIA ENERGY: Blames Mislabeled Pipe for Explosion
PURDUE PHARMA: To Present Chapter 11 Plan in 2 Weeks

QUEST PATENT: Inks $27 Million Agreement With QPRC Affiliate
REDDLINE ENERGY: Gets OK to Hire Simplex Energy as Consultant
RHINO BARE: Plan Says Unsecureds to Get Full Payment From Galam
ROCKPORT DEVELOPMENT: Says Tiara Negotiations with Everwin Ongoing
SANTA MARIA BREWING: 3 More Creditors Appointed to Committee

SCIENCE APPLICATIONS: Moody's Alters Outlook on Ba2 CFR to Stable
SCIENTIFIC GAMES: Increases Senior VP's Salary to $500K Per Annum
SEADRILL PARTNERS: Taps Lugenbuhl Wheaton as Special Counsel
SHELTON BROTHERS: Seeks to Tap Aaron Posnik & Co. as Auctioneer
SINTX TECHNOLOGIES: Signs Deal to Sell $15M Worth of Common Stock

SYSTEMS INTEGRATORS: Taps Wallace Plese + Dreher as Accountant
TBAG HOLDINGS: Gets Cash Collateral Access on Final Basis
TBAG HOLDINGS: Seeks to Hire Coplen & Banks as Bankruptcy Counsel
TBAG HOLDINGS: Seeks to Hire Jester and Jester Tax as Accountant
TED & STAN'S: Seeks Approval to Hire Joel M. Aresty as Counsel

TEREX CORP: Debt Repayment No Impact on Moody's B1 CFR
TERRESTRIAL DEVELOPMENT: Seeks Approval to Tap Bankruptcy Attorney
THERMASTEEL INC: Trustee Has Until April 23 to File Plan
THIRD COAST: Moody's Withdraws B3 CFR Following Debt Repayment
TITAN INTERNATIONAL: Extends BMO Credit Facility Maturity to 2023

TOPBUILD CORP: Moody's Hikes CFR to Ba1 & Rates New Notes Ba2
TUMBLEWEED TINY HOUSE: Cash Collateral Use Through April 30 OK'd
VERICAST CORP: Moody's Rates $1.3BB First Lien Secured Note 'B3'
VI GROUP: Case Summary & 5 Unsecured Creditors
VIDEOMINING CORP: Seeks Fifth Stipulation Hearing Reschedule

VPR BRANDS: Issues $100K Promissory Note to CEO
WAVE COMPUTING: Exits Chapter 11 Bankruptcy as MIPS
WB BRIDGE: Committee Seeks to Hire SilvermanAcampora as Counsel
WELLDYNERX LLC: Moody's Completes Review, Retains B3 CFR
WEST DEPTFORD: Moody's Lowers Debt Facilities to B1, Outlook Neg.

WILDFIRE INC: Cash Collateral Use Allowed Until May 23
WILLCO XII: Gets Cash Collateral Access Thru March 31
YUNHONG CTI: Appoints Former CEO as Director

                            *********

1900 ORCHARD: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: 1900 Orchard Holdings LLC
        c/o ABS Management & Development Corp.
        1274 49th St
        Ste 302
        Brooklyn, NY 11219-3011

Business Description: 1900 Orchard Holdings LLC is a Single Asset
                      Real Estate debtor (as defined in 11 U.S.C.
                      Section 101(51B)).

Chapter 11 Petition Date: February 28, 2021

Court: United States Bankruptcy Court
       Eastern District of New York

Case No.: 21-40529

Judge: Hon. Elizabeth S. Stong

Debtor's Counsel: Kevin J. Nash, Esq.
                  GOLDBERG WEPRIN FINKEL GOLDSTEIN LLP
                  1501 Broadway 22nd Floor
                  New York, NY 10036
                  Tel:(212) 221-5700
                  E-mail: knash@gwfglaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by FIA Capital Partners by David
Goldwasser, manager and restructuring officer.

The Debtor failed to include in the petition a list of its 20
largest unsecured creditors.

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

https://www.pacermonitor.com/view/YGD44UY/1900_Orchard_Holdings_LLC__nyebke-21-40529__0001.0.pdf?mcid=tGE4TAMA


ABB/CON-CISE OPTICAL: Moody's Completes Review, Retains Caa1 CFR
----------------------------------------------------------------
Moody's Investors Service has completed a periodic review of the
ratings of ABB/CON-CISE Optical Group LLC and other ratings that
are associated with the same analytical unit. The review was
conducted through a portfolio review discussion held on February
23, 2021 in which Moody's reassessed the appropriateness of the
ratings in the context of the relevant principal methodology(ies),
recent developments, and a comparison of the financial and
operating profile to similarly rated peers. The review did not
involve a rating committee. Since January 1, 2019, Moody's practice
has been to issue a press release following each periodic review to
announce its completion.

This publication does not announce a credit rating action and is
not an indication of whether or not a credit rating action is
likely in the near future. Credit ratings and outlook/review status
cannot be changed in a portfolio review and hence are not impacted
by this announcement.

Key rating considerations

ABB/CON-CISE Optical Group LLC's Caa1 CFR is constrained by very
high financial leverage and weakened operating performance
associated with the coronavirus pandemic and its impact on contact
lens demand. The rating is supported by the company's leading scale
and market position among US distributors of soft contact lenses
and good diversity across customers and geographies.

The principal methodology used for this review was Distribution &
Supply Chain Services Industry published in June 2018.


ADVANCED POWER: Unsecured Creditors Will Recover 1.22% in Plan
--------------------------------------------------------------
Advanced Power Technologies, LLC, submitted a Chapter 11 Plan of
Reorganization and a Disclosure Statement.

The Debtor filed for chapter 11 bankruptcy relief as a result of
losses accumulated over the three years prior to the Petition Date
and an anticipated business growth opportunity.  The Debtor
determined that chapter 11 is its best option to reorganize its
debts and allow the Debtor's business to move forward.

Under the Plan, the Class 3 Allowed Unsecured Claim of Nesco
Specialty Rentals, which asserts a claim of $2.015 million, is
impaired.  Nesco will recover 14.88% of its claims. Following the
Effective Date, the Debtor will cure $300,000 of the monetary
default under the Nesco Agreements as of the Petition Date in 12
quarterly payments without interest commencing in the first full
quarter following the Effective Date, the Debtor shall make four
consecutive quarterly payments to Nesco in the amount of $20,000,
and thereafter, the Debtor shall make eight consecutive quarterly
payments to Nesco in the amount of $27,500; and the balance of the
Allowed Unsecured Claim of Nesco (i.e., $1,715,533) shall be
classified and treated as an Allowed General Unsecured Claim in
Class 7 of this Plan.

Class 7 Allowed General Unsecured Claims in the allowed amount of
$4,104,790 are impaired.  Creditors will recover 1.22% of their
claims. Each holder of Allowed Class 7 Claim shall receive a Pro
Rata distribution of $50,000 in cash provided by the holder of the
Allowed Equity Interests in the Debtor in exchange for said holder
retaining his Equity Interests in the Reorganized Debtor.

Class 8 Allowed Equity Interests are impaired. In exchange for the
$50,000 new value payment to the Class 7 Allowed General Unsecured
Claims, the holder of the Allowed Equity Interests in the Debtor
shall retain his, her or its Equity Interests in the Reorganized
Debtor.

The sources of consideration for distributions under the Plan
include the Debtor's cash on hand as of the Effective Date as well
the future profits of the Reorganized Debtor.

Attorneys for the Debtor:

     Bradley S. Shraiberg, Esq.
     Joshua B. Lanphear, Esq.
     SHRAIBERG, LANDAU & PAGE, P.A.
     2385 NW Executive Center Drive, Ste. 300
     Boca Raton, FL 33431
     Telephone: (561) 443-0800
     Facsimile: (561) 998-0047
     E-mail: bss@slp.law
     E-mail: jlanphear@slp.law

A copy of the Disclosure Statement is available at
https://bit.ly/2NyxAQH from PacerMonitor.com.

              About Advanced Power Technologies

Advanced Power Technologies, LLC --
http://www.advancedpowertech.com/-- offers interior and exterior
lighting, signage, and electrical service needs throughout the
United States and Canada. It works with commercial, hospitality,
industrial, institutional, restaurant, and retail clients to save
energy and reduce operating costs.

Advanced Power Technologies, LLC, based in Pompano Beach, Fla.,
filed a Chapter 11 petition (Bankr. S.D. Fla. Case No. 20-13304) on
March 11, 2020. In the petition signed by Devin Grandis, president,
the Debtor was estimated to have $1 million to $10 million in both
assets and liabilities.  

Judge Peter D. Russin Bradley replaced Judge Paul G Hyman Jr., who
previously oversaw the case.  Bradley S. Shraiberg, Esq., at
Shraiberg Landau & Page PA, serves as the Debtor's bankruptcy
counsel.

The U.S. Trustee was not able to appoint an Official Committee of
Unsecured Creditors for the Debtor.


AE HOTEL: Case Summary & 7 Unsecured Creditors
----------------------------------------------
Debtor: AE Hotel, LLC
        1100 South Main Street
        Andrews, TX 79714

Chapter 11 Petition Date: March 2, 2021

Court: United States Bankruptcy Court
       Western District of Texas

Case No.: 21-70025

Debtor's Counsel: Eric A. Liepins, Esq.
                  ERIC A. LIEPINS
                  12770 Coit Road
                  Suite 1100
                  Dallas, TX 75251
                  Tel: 972-991-5591
                  E-mail: eric@ealpc.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Wasim Beshay, authorized
representative.

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

https://www.pacermonitor.com/view/OVR56AY/AE_Hotel_LLC__txwbke-21-70025__0001.0.pdf?mcid=tGE4TAMA


ALPHA MEDIA: Has Final OK on $115MM DIP Loan, Cash Collateral Use
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Virginia,
Richmond Division, has authorized Alpha Media Holdings LLC and
affiliates to, among other things, use cash collateral and obtain
postpetition financing on a final basis in accordance with the
budget.

The Debtors need to use Cash Collateral and to obtain credit
pursuant to the DIP Facilities to avoid immediate and irreparable
harm to the Debtors, their estates, their creditors and other
parties-in-interest, and to enable the Debtors to, among other
things, fund the costs of these Chapter 11 Cases, make adequate
protection payments make payroll and satisfy other working capital
and general corporate purposes, and administer and preserve the
value of their estates.

The Debtors have obtained DIP financing in the aggregate principal
amount of up to $115 million, consisting of:

          (i) a senior secured superpriority debtor-in-possession
credit facility on a senior priming secured basis in the aggregate
principal amount of $95 million pursuant to the terms and
conditions set forth in the Final Order and the Senior Secured
Superpriority Debtor-In-Possession Credit Agreement, executed by
Alpha Media LLC and Alpha 3E Corporation, as issuers, each of the
other Debtors, as guarantors, Wilmington Savings Fund Society, FSB,
as administrative agent and collateral agent, and each of the
entities party thereto from time to time as lenders; and

         (ii) a junior secured superpriority debtor-in-possession
credit facility on a junior priming secured basis, consisting of a
note purchase agreement in the aggregate principal amount of up to
$20 million, of which (x) $5 million will be used to refinance the
$5 million in notes issued pursuant to the Interim Order, subject
to the terms of the Junior DIP Note Purchase Agreement, and (y) up
to an additional $15 million will be available to the Debtors
following entry of the Final Order subject to the terms of the
Junior DIP Note Purchase Agreement to fund expenses during the
pendency of these bankruptcy cases and in connection with
consummation of a chapter 11 plan in form and substance acceptable
to the DIP Agents and the Required DIP Credit Parties, in each
case, pursuant to the terms and conditions set forth in the Final
Order and the $20 million Junior Secured Superpriority
Debtor-In-Possession Note Purchase Agreement, executed by Alpha
Media LLC and Alpha 3E Corporation, as issuers, each of the other
Debtors, as guarantors, ICG Debt Administration LLC, as
administrative agent and collateral agent, and each of the
Noteholders.

The DIP Facilities provide, among others, for these material
terms:

     (A) Entities with Interests in Cash Collateral:  The DIP
Agents, the DIP Secured Parties, the Prepetition First Lien Secured
Parties; and the Prepetition Second Lien Secured Parties.

     (B) Term:

         (1) Pursuant to the Junior DIP Note Purchase Agreement:
The date which is the earliest of: (a) the DIP Maturity Date; (b)
the consummation of a sale of all or substantially all of the
Credit Parties' assets, (c) the effective date of the Plan of
Reorganization or any other plan of reorganization in respect of
the Debtors, and (d) the date the Obligations are accelerated
pursuant to Section 7.2 of the Junior DIP Note Purchase Agreement.

         (2) Pursuant to the Senior DIP Credit Agreement: The date
which is the earliest of: (a) the DIP Maturity Date, (b) the
consummation of a sale of all or substantially all of the Credit
Parties' assets, (c) the effective date of the Plan of
Reorganization or any other plan of reorganization in respect of
the Debtors, and (d) the date the Obligations are accelerated
pursuant to Section 7.2 of the Senior DIP Credit Agreement.

         (3) For both agreements the DIP Maturity Date is October
24, 2021; provided that if the Federal Communication Commission has
failed to approve (and has not disapproved or rejected) the change
of ownership described in the FCC Interim Long Form Application by
such date, and an officer of the Debtors certifies that the other
conditions precedent to the Plan Effective Date in the Plan of
Reorganization are capable of being satisfied promptly after the
date such FCC approval is received, the DIP Maturity Date will be
automatically extended until 30 days after the earlier of (x) the
date the FCC approves such change of ownership or (y) the date the
FCC denies or rejects such change of ownership; provided further,
that in no event will the DIP Maturity Date be extended past April
24, 2022.

The Debtors are party to a First Lien Credit Agreement dated
February 25, 2016, by and among each of the Debtors other than
Alpha Holdings as Prepetition Secured Obligors, DBD AMAC LLC as
successor to Antares Capital LP as administrative agent -- Fortress
or the Prepetition First Lien Agent -- and each of the Prepetition
First Lien Lenders.  The Prepetition First Lien Credit Agreement
provides for a $280 million facility which consists of a $265
million term loan and up to $15 million in revolving loan
commitments.  The First Lien Revolver and the First Lien Term Loan
mature on February 25, 2021 and February 25, 2022, respectively. As
of the Petition Date, approximately $75 million is outstanding on
the First Lien Term Loan and approximately $15 million is
outstanding on the Prepetition First Lien Revolver.  The
Prepetition Secured Obligors' obligations under the Prepetition
First Lien Credit Agreement are purportedly secured by a first lien
on all of the Prepetition Secured Obligors' right, title, and
interest in substantially all of their assets other than certain
equity interests, and certain FCC licenses.

Prior to the Petition Date, Alpha Media LLC and Alpha 3E
Corporation issued notes secured by a second lien on the
Prepetition Collateral in the original principal amount of $65
million pursuant to the Second Lien Note Purchase Agreement dated
February 25, 2016, by and among each of the Prepetition Secured
Obligors, ICG Debt Administration LLC as agent, and the note
purchaser parties thereto.  As of the Petition Date, the aggregate
amount outstanding under the Prepetition Second Lien Notes is
approximately $73 million.  The Prepetition Second Lien Notes
mature on August 25, 2022.

As of the Petition Date, the Prepetition HoldCo Notes Issuer was
indebted to the Prepetition HoldCo Noteholders in the aggregate
principal amount of $103,931,487 plus any other amounts incurred or
accrued but unpaid prior to the Petition Date in accordance with
the Prepetition HoldCo Notes Document.

Pursuant to the Note and Warrant Purchase Agreement dated February
25, 2016, Alpha Holdings issued unsecured notes with an aggregate
face value of $55 million -- Prepetition HoldCo Notes -- to, among
others, ICG North America Holdings Ltd. and Intermediate Capital
Group plc.  Pursuant to the Prepetition HoldCo Notes Purchase
Agreement, interest on the Prepetition HoldCo Notes compounds
quarterly at the non-default rate between 12.5% to 13% and is
capitalized and added to the principal amount outstanding.  As of
the Petition Date, approximately $104 million of principal,
interest, fees, and expenses is outstanding under the Prepetition
HoldCo Notes.  The Prepetition HoldCo Notes mature on February 25,
2023.  The claims of the holders of the Prepetition HoldCo Notes
are structurally subordinated to the claims of the Prepetition
Secured Obligors' creditors.

The Debtors are authorized to establish the DIP Facilities,
execute, deliver and perform under the DIP Documents, and to issue,
incur, guarantee perform and pay the DIP Obligations and create and
grant the DIP Liens in the DIP Collateral in favor of the DIP
Agents.

The Debtors are also authorized and directed to incur and pay all
DIP Obligations.  Upon execution and delivery, the DIP Documents
represent valid and binding obligations of the Debtors, enforceable
against each of the Debtors and their estates, and the DIP
Obligations will be due and payable, in each case, in accordance
with the terms of the Final Order and the DIP Documents,
respectively.

The Debtors are authorized to (i) incur the indebtedness under the
Senior DIP Facility and to use the proceeds therefrom to, in part,
to effect the Prepetition First Lien Refinancing and (ii) issue the
Junior DIP Notes to the Junior DIP Noteholders under the Junior DIP
Facility in an aggregate principal amount up to $20 million, the
proceeds of which will be used, in part, to refund, refinance,
replace and repay the Interim DIP Notes purchased by the Junior DIP
Secured Parties.

As adequate protection for the Debtor's use of cash collateral, the
Prepetition Secured Parties are granted continuing, valid, binding,
enforceable and automatically perfected postpetition security
interests and liens on all DIP Collateral , which security
interests and liens will be junior to the Prepetition Prior Liens,
the Carve Out, and the DIP Liens, and will be senior in priority to
all other liens.

The "Carve Out" means: (i) all fees required to be paid to (A) the
Clerk of the Court and (B) the U.S. Trustee under section 1930(a)
of title 28 of the United States Code; (ii) all reasonable fees and
expenses up to $50,000 incurred by a trustee under section 726(b)
of the Bankruptcy Code;  (iii) to the extent allowed at any time,
all unpaid fees and expenses incurred by persons or firms retained
by the Debtors,  and (iv) Allowed Professional Fees of Professional
Persons in an aggregate amount not to exceed $1,250,000 incurred
after the first business day following delivery of a Carve Out
Trigger Notice.

A copy of the Order is available for free at https://bit.ly/3sBMHr5
from PacerMonitor.com.

                    About Alpha Media Holdings

Alpha Media is a privately held radio broadcast and multimedia
company. Formed in 2009 by a veteran radio executive, Alpha Media
grew through acquisitions and now owns or operates more than 200
radio stations that provide local news, sports, music, and
entertainment to a weekly audience of more than 11 million
listeners in 44 communities across the United States. In addition
to its radio stations, Alpha Media provides digital content through
more than 200 websites and countless mobile applications and
digital streaming services.

Alpha Media and its affiliates sought Chapter 11 protection (Bankr.
E.D. Va. Lead Case No. 21-30209) on Jan. 25, 2021. John Grossi,
chief financial officer, signed the petitions. At the time of the
filing, Alpha Media disclosed estimated assets of $10 million to
$50 million and estimated liabilities of $50 million to $100
million.

Judge Kevin R. Huennekens oversees the cases.

The Debtors tapped Sheppard, Mullin, Richter & Hampton LLP as legal
counsel; Kutak Rock LLP as local counsel; Moelis & Company as
financial advisor; and Ernst & Young LLP as restructuring advisor.
Stretto is the claims and noticing agent.

Wilmington Savings Fund Society as the Administrative Agent to the
First Lien Lenders, is represented by Sidney Levinson, Esq., and
Daniel Pyon, Esq. at Debevoise & Plimpton LLP and  Tyler Brown,
Esq. at Hunton Andrews Kurth LLP.

Members of the Junior lending syndicate are:

     * ICG DEBT ADMINISTRATION LLC, as Agent
       600 Lexington Avenue, 19th Floor
       New York, NY 10022
       Attn: Brian Spenner
       Facsimile: (212) 710-9651
       Email: Brian.Spenner@icgplc.com

            - and -

       ICG North American Deal Administration
       600 Lexington Avenue, 19th Floor
       New York, NY 10022
       Attn: Arthur Brodsky
       Telephone: (212) 710-9651
       Email: arthur.brodsky@icgam.com

     * ICG NORTH AMERICA HOLDINGS LTD., as a DIP Noteholder

     * INTERMEDIATE CAPITAL GROUP PLC, as a DIP Noteholder

     * NASSAU LIFE INSURANCE COMPANY, as a DIP Noteholder
       One American Row
       Hartford, CT 06102
       Attn: Pam Moody
       Facsimile: 860-403-7248
       Email: pmoody@nsre.com
              NAIOperations@nsre.com

     * PHL VARIABLE INSURANCE COMPANY, as a DIP Noteholder
       One American Row
       Hartford, CT 06102
       Attn: Pam Moody
       Facsimile: 860-403-7248
       Email: pmoody@nsre.com;
       E-mail: NAIOperations@nsre.com

     * METLIFE PRIVATE EQUITY HOLDINGS, LLC, as a DIP Noteholder
       Metlife Investment Management LLC, its investment manager
       One MetLife Way
       Whippany, NJ 07981
       Attention: Justin Ryvicker
       Facsimile: (908) 552-2335
       Email: alternatives@metlife.com

       Aaron Wernick, Esq.
       Investments, Law Department
       MetLife Investment Management, LLC
       One MetLife Way
       Whippany, NJ 07981
       Telephone: (973) 355-4543
       Email: aaron.wernick@metlife.com

     * METLIFE INSURANCE K.K., as a DIP Noteholder
       Metlife Investment Management LLC, its investment manager

       MetLife Asset Management Corp. (Japan)
       Administration Department
       ARCA East 7F, 3-2-1 Kinshi
       Sumida-ku, Tokyo 130-0013 Japan
       Attention: Administration Dept. Manager
       Email: saura@metlife.co.jp

       MetLife Investment Management, LLC
       18210 Crane Nest Drive
       Tampa, FL 33647 USA
       Attention: Manager/Director – Private Placements
       Facsimile: (813) 983-5466
       E-mail: privates_tampa@metlife.com

     * FLORIDA GROWTH FUND LLC, as a DIP Noteholder
       HL Florida Growth LLC, its Manager
       One Presidential Boulevard, 4th Floor
       Bala Cynwyd, PA 19004
       Attn: Elina Magid
       Facsimile: 610-617-9853
       Email: monitor@hamiltonlane.com

     * HAMILTON LANE STRATEGIC OPPORTUNITIES 2016 FUND LP, as a
          DIP Noteholder
       Hamilton Lane Strategic Opportunities 2016 GP LLC,
          its General Partner
       One Presidential Boulevard, 4th Floor
       Bala Cynwyd, PA 19004
       Attn: Elina Magid
       Facsimile: 610-617-9853
       Email: monitor@hamiltonlane.com

     * BIG SUR CAPITAL PARTNERS THREE CORP., as a DIP Noteholder
       BigSur Partners
       1441 Brickell Avenue, Suite 1410
       Miami, FL 33131
       Attn: Ignacio Pakciarz
       Facsimile: 305-350-9998
       Email: ignacio.pakciarz@bigsurpartners.com

The Junior lenders have hired Kramer Levin Naftalis & Frankel LLP,
McGuireWoods LLP, Fletcher Heald & Hildreth, PLC, Quinn Emanuel
Urquhart & Sullivan LLP and GLC Advisors & Co., as advisors.



ALTO TOWNHOMES: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: The Alto Townhomes on Hall, LLC
        1345 Avenue of the Americas
        33rd Floor
        New York, NY

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

Chapter 11 Petition Date: March 2, 2021

Court: United States Bankruptcy Court
       Northern District of Texas

Case No.: 21-30379

Judge: Hon. Harlin Dewayne Hale

Debtor's Counsel: Joyce W. Lindauer, Esq.
                  JOYCE W. LINDAUER ATTORNEY, PLLC
                  1412 Main Street, Suite 500
                  Dallas, TX 75202
                  Tel: (972) 503-4033
                  E-mail: joyce@joycelindauer.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by Lawrence Selevan, managing member.

The Debtor failed to include in the petition a list of its 20
largest unsecured creditors.

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

https://www.pacermonitor.com/view/JUFZMCI/The_Alto_Townhomes_on_Hall_LLC__txnbke-21-30379__0001.0.pdf?mcid=tGE4TAMA


ANGLIN CULTURED STONE: Can Use Cash Collateral Through April 6
--------------------------------------------------------------
Judge John T. Dorsey of the U.S. Bankruptcy Court for the District
of Delaware authorized Anglin Cultured Stone Products, LLC to use
cash collateral from February 25, 2021 to April 6, 2021.

Newtek Small Business Finance, LLC holds a claim against the Debtor
pursuant to these instruments:

     (a) A Note dated June 30, 2015, in the original principal
amount of $1,127,000 from the Debtor to Newtek (Loan no. 79721).
The outstanding principal balance of Loan no. 79721 is
$773,324.82.

     (b) A Note dated December 27, 2017, in the original principal
amount of $2,575,000 from the Debtor to Newtek (Loan no. 127073).
The outstanding principal balance of Loan no. 127073 is
$2,521,847.56.

     (c) A Note dated September 26, 2018, in the original principal
amount of $400,000 from the Debtor to Newtek (Loan no. 166316). The
outstanding principal balance of Loan no. 166316 is $382,051.

     (d) A Note dated December 12, 2018, in the original principal
amount of $250,000 from the Debtor to Newtek (Loan no. 185979). The
outstanding principal balance of Loan no. 185979 is $243,336.80.

Interest, late charges and attorneys' fees have accrued and
continue to accrue under the loans.

Newtek asserted that, to secure the Debtor's obligations under the
Notes, the Debtor granted Newtek a security interest in all assets
of the estate pursuant to one or more Security Agreements executed
by the Debtor in favor of Newtek.

The Debtor and Newtek entered into an interim agreement regarding
the Debtor's use of cash collateral.

Judge Dorsey found that "the Debtor requires the use of cash and
negotiable instruments in the ordinary course of its business to
pay suppliers and wages and to otherwise continue its business."

The Debtor agreed to grant to Newtek, as security for the Debtor's
use of Newtek's cash collateral and only up to the amount of the
cash collateral used:

     (a) a first priority post-petition security interest and lien
in and to any and all cash, accounts receivable, contract rights,
general intangibles, and instruments of the Debtor, and all cash
and non-cash proceeds thereof, which are or have been acquired,
generated or received by the Debtor subsequent to the filing of the
Debtor's bankruptcy petition;

     (b) a first priority post-petition security interest and lien
in and to any and all bank accounts of the Debtor, and all funds
now and hereafter on deposit therein, whether or not said bank
accounts are located at Newtek and including, but not limited to,
the Debtor-In-Possession accounts referenced below; and

     (c) a post-petition security interest in inventory and
equipment of the Debtor of the same priority and to the same extent
which Newtek enjoyed as of the petition date.

To the extent the cash collateral in which Newtek held a duly
perfected security interest as of February 8, 2021, has been
diminished as a result of the Debtor's use of such cash collateral,
Newtek was granted an administrative claim against the Debtor and
Debtor-In-Possession having priority over any and all
administrative expenses of any kind specified in the Code, except
U.S. Trustee's fees and court costs and the fees and expenses of
the Subchapter V Trustee as approved by the Bankruptcy Court.

The Debtor was authorized to use cash collateral pursuant to the
following terms and conditions:

     (a) The Debtor will only be entitled to use Newtek's cash
collateral to pay the Debtor's ordinary and necessary operating
expenses, vendor payments and other payments as delineated on the
budget, which includes a line item of $10,000 for payment of fees
and expenses for the Subchapter V Trustee.

     (b) The Debtor may also use the Carve Out to pay
administrative professional fees of the Subchapter V Trustee which
are incurred from the Petition Date and during the pendency of the
Agreement and subsequently approved by the Bankruptcy Court, but
only to the extent permitted by the Bankruptcy Court and in
conformity with the Budget.

     (c) On each Monday during the pendency of this Agreement, the
Debtor will provide Newtek and the Subchapter V Trustee with a
current schedule indicating an aging for the Debtor's accounts
receivable and accounts payable.

Upon the occurrence of any of these events of default, the Debtor
will immediately cease and be enjoined from using cash collateral,
and will provide appropriate evidence to Newtek of the Debtor's
cessation of the use of Newtek's cash collateral:

     (a) The Debtor fails to make a payment to Newtek of $5,000
prior to April 5, 2021;

     (b) The Debtor does anything prohibited under the Agreement,
or fails to do anything required hereunder on a timely basis;

     (c) The Debtor provides Newtek with any information and/or
documentation that is not true, accurate and complete to the best
of the Debtor's knowledge, information and belief;

     (d) This case is converted to a case under Chapter 7 of the
Code, and/or if a Trustee is appointed in the case under Section
1104(a)(1);

     (e) The failure of the Debtor to comply with and/or to perform
under any other terms and/or conditions set forth in the
Agreement;

     (f) The Debtor fails to make any deposit of any tax required
to be deposited to any taxing authority;

     (g) The Debtor fails to timely file any tax return required to
be filed with any taxing authority:

     (h) The Debtor fails to maintain its cash and accounts
receivable under 90 days at the same level and in at least the same
amount as such assets existed as of the petition date;

     (i) The Debtor makes any payment to any person or entity other
than as authorized in the Budget.

A full-text copy of the Second Interim Agreement Authorizing Use of
Cash Collateral, dated February 25, 2021, is available for free at
https://tinyurl.com/k8ju4zu8 from PacerMonitor.com.

           About Anglin Cultured Stone Products, LLC

Anglin Cultured Stone Products, LLC sought protection under Chapter
11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 21-10389)
on February 8, 2021. In the petition signed by Stuart L. Anglin,
sole member and manager, the Debtor disclosed up to $500,000 in
assets and up to $10 million in liabilities.

Charles J. Brown, III, Esq. at GELLERT SCALI BUSENKELL & BROWN, LLC
represents the Debtor as counsel.

Counsel for Newtek Small Business Finance, LLC:

     Ronald J. Drescher, Esq.
     DRESCHER & ASSOCIATES, P.A.
     4 Reservoir Circle, Suite 107
     Baltimore, MD 21208
     Tel: (410) 484-9000



ANTARA SYSTEMS: Jimdi Plastics Hits Chapter 11 Bankruptcy
---------------------------------------------------------
Jayson Bussa of MiBiz reports that a West Michigan injection molder
that was acquired more than two years ago has filed for Chapter 11
bankruptcy, citing the effects of the COVID-19 pandemic after
investing in operational improvements.

Antara Systems LLC, an Allendale-based company that does business
as Jimdi Plastics Inc. and molds components and assemblies for
agriculture, automotive, office furniture and consumer products
markets, filed for Chapter 11 in the U.S. Bankruptcy Court for the
Western District of Michigan under Subchapter V of the U.S.
Bankruptcy Code.

The company lists $4.3 million in liabilities, which includes
nearly $1.2 million in non-priority unsecured claims.  Jimdi
claimed $2.1 million in assets, including $304,150 in equipment and
$806,708 in accounts receivable.

Jimdi Plastics was acquired in 2018 for $2.2 million by Antara
Systems, which is owned and managed by Reed Lawrie.  Jimdi Plastics
is located at 5375 Edgeway Drive in Allendale and employs 54
people.  Under the new ownership, Jimdi Plastics made investments
in equipment and process improvements starting in 2019.

The company said in court filings that it spent $480,000 in parts
and repairs for equipment that was in need of significant upgrades.
The company also invested heavily in education for its employees
to acquire the skills to take on new clients while hiring
professionals with experience specifically in the automotive
industry.

As a result of the investments, Jimdi ended 2019 with a $795,000
loss after bringing in $7.9 million in gross sales.  The company
said the losses stemmed from its investments as well as
underpricing issues.

The company claimed that the COVID-19 pandemic cut revenue by 70
percent and forced a temporary reduction in both staff -- from 67
to 15 employees -- and the number of days and shifts.  Jimdi took
out federal Paycheck Protection Program loans -- an unsecured
$480,980 loan and a $457,500 secured loan -- in order to survive.

The company also hired Grand Rapids-based consultants Gantry
Business Solutions to help revise pricing to profitable levels
while ironing out other efficiency issues.

The company finished 2020 with $6.8 million in gross sales.  So far
in 2021, the company has generated $875,103 in sales, according to
court filings.

The balance on Jimdi's PPP loans is $480,980, but an application
for forgiveness is pending.

In 2018, the company took out U.S. Small Business Administration
loans with TCF Bank for working capital. These loans were in the
amounts of $350,000 and $2.4 million.

Jimdi Plastics has claims of $2.2 million and $314,645 from TCF
Bank, $1.7 million of which is secured by collateral.

Creditors with some of the largest unsecured claims include
Clarkston-based Chase Plastic Services Inc. ($145,381); Lodi,
Ohio-based Buckeye Polymers Inc. ($134,029), Chicago-based Nexeo
Solutions LLC ($127,604); Zeeland-based Rowland Mold & Machine Inc.
($113,159); and Atlanta-based AMCO Plastic Materials Inc.
($76,345).

Other unsecured creditors include Kalamazoo-based Mall City
Containers Inc. ($63,125), Vortec Tooling Solutions Inc. of Zeeland
($55,724.41), Priority Health ($20,705), and Jenison-based
Advantage Industries Inc. ($12,800).

Todd Almassian, partner at Grand Rapids-based Keller & Almassian
PLC, is representing Jimdi, bringing his experience in guiding
other businesses through the fairly new Subchapter V process.

This designation of Chapter 11 bankruptcy is reserved for small
businesses with less than $7.5 million in debt, and offers a
streamlined process by accelerating the timeline and reducing
costs.

                     About Antara Systems

Antara Systems, LLC, d/b/a Jimdi Plastics, was founded in 1997 to
produce a proprietary flooring system used in the agricultural
industry with anticipation of doing custom injection molding for
other customers. It sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. W.D. Mich. Case No. 21-00427) on Feb. 21,
2021.  In the petition signed by Reed E. Lawrie, managing member,
the Debtor disclosed up to $2,112,129 in assets and up to
$4,392,696 in liabilities.

Judge Scott W. Dales oversees the case.

A. Todd Almassian, at KELLER & ALMASSIAN, PLC, is the Debtor's
counsel.

Jimdi Receivables, Inc., as creditor, is represented by Tim Hoesch
as corporate counsel.

TCF National Bank, as secured creditor, is represented by Douglas
C. Bernstein as corporate counsel.


ANTARA SYSTEMS: Stipulation on Cash Collateral Access OK'd
----------------------------------------------------------
The U.S. Bankruptcy Court for the Western District of Michigan has
authorized Antara Systems, LLC d/b/a Jimdi Plastics to use cash
collateral on an interim basis.

The court finds relief is warranted and that good cause has been
shown to approve the Stipulation filed by the Debtor to avoid
immediate and irreparable harm, and just cause exists for the
relief granted given the lenders' consent under 11 U.S.C. section
363(c)(2)(A).

As previously reported by the Troubled Company Reporter, the
Debtor, TCF National Bank, and Jimdi Receivables, Inc. advised the
Court that they have reached an agreement regarding Antara Systems'
use of cash collateral.  The parties agreed the Debtor may use Cash
Collateral in the amount of $42,015 for the purpose of making its
ongoing scheduled payroll to its employees on February 24, on an
interim basis only until a final hearing on use of cash collateral
or until the date the stipulated order becomes a final order.  They
reserve all rights to object to any request by the Debtor for final
authority to use the Cash Collateral.

The parties agreed that TCF and Jimdi Receivables have perfected
their respective security interests in the personal property of the
Debtor, including accounts and deposit accounts prior to the
Petition Date.

The Debtor said it is in immediate need of an Order authorizing the
use of cash collateral in order to sustain its operations and
preserve its assets for the benefit of the estate and the
creditors.

In seeking access to Cash Collateral, the Debtor said it has
various expenses that are essential to its business. The expenses
total approximately $800,000 per month prior to debt service,
professional fees, and a payment to unsecured creditors.  As of the
Petition Date, it owed $45,000 in employee compensation and payroll
taxes for the time period of February 15 to February 19, 2021,
which was the last week the Debtor operated. No employee is owed
more than $13,650.  The Debtor also pays rent to Richard & Sharon
Schrotenboer in the amount of $14,630 per month.

The Debtor is obligated to Chemical Bank (Now Known As "TCF") under
these loans:

     Term Loan: $1,829,665.94 total amount due
     Equipment Loan: $248,650.00 total amount due
     Line of Credit: $332,358.00 total amount due

The Debtor maintains its deposit accounts with TCF Bank.  The
Debtor intends to continue maintaining all its deposit and checking
accounts with TCF.

The Debtor also has a seller financed promissory note and
subordinated security agreement with Jimdi Receivables in the
amount of $250,000. The Debtor owes Jimdi Receivables $200,000 on
this obligation as of the Petition Date. This obligation is junior
to the TCF Bank secured obligation and there is no equity to which
the Jimdi Receivables obligation may attach. Debtor treats this
obligation as fully unsecured.

A copy of the order is available at https://bit.ly/3dQDs29 from
PacerMonitor.com.

          About Antara Systems, LLC d/b/a Jimdi Plastics

Founded in 1997, Antara Systems, LLC dba Jimdi Plastics, produces
injection molded components and assemblies for the agriculture,
automotive, consumer product, office furniture and recreation
markets.  It sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. W.D. Mich. Case No. 21-00427) on February
21, 2021. In the petition signed by Reed E. Lawrie, managing
member, the Debtor disclosed $2,112,129 in assets and $4,392,696 in
liabilities.

Judge Scott W. Dales oversees the case.

A. Todd Almassian, Esq. at Keller & Almassian, PLC is the Debtor's
counsel.

Gantry Business Solutions LLC's Dave Distel and Tim Emmitt serve as
financial advisors.



APOLLO COMMERCIAL: Moody's Rates $300MM Term Loan B Add-on 'Ba2'
----------------------------------------------------------------
Moody's Investors Service has assigned a Ba2 rating to Apollo
Commercial Real Estate Finance, Inc.'s (ARI) proposed Term Loan B
add-on. ARI's Ba3 long-term corporate family rating and Ba2 senior
secured rating were unaffected by the company's decision to
increase its existing Term Loan B by $300 million. ARI's rating
outlook is negative.

Assignments:

Issuer: Apollo Commercial Real Estate Finance, Inc.

$300 Million Senior Secured Term Loan B Add-On, Assigned Ba2

RATINGS RATIONALE

ARI's Ba3 long-term CFR reflects the company's strong profitability
and capital adequacy and low leverage. Moody's also views ARI's
affiliation with its external manager, Apollo Global Management,
LLC (Apollo), as a credit strength because it supports the
sourcing, evaluation and risk management of investments. The rating
also considers ARI's concentration in commercial real estate (CRE)
lending, its portfolio composition, which consists of a relatively
high, though declining, percentage of subordinated loans and
exposure to the volatile hotel and retail sectors, and its high
reliance on confidence-sensitive secured funding that encumbers its
earnings assets and limits its access to the unsecured debt
markets.

The Ba2 rating assigned to ARI's Term Loan B reflects its senior
secured position in the company's capital hierarchy. Moody's
considers the unsecured notes subordinated to the Term Loan B as a
significant buffer to loan holders in the event of default. The
proposed upsize of the Term Loan B does not affect the existing
ratings.

ARI's rating outlook is negative, reflecting the likely
deterioration in the company's asset performance and real estate
values, profitability and capital position relating to the
coronavirus pandemic. Moody's regards the coronavirus pandemic as a
social risk under its environmental, social and governance (ESG)
framework, given the substantial implications for public health and
safety.

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

The negative outlook indicates that a ratings upgrade is unlikely
over the next 12-18 months. However, ARI's ratings could be
upgraded if the company: 1) improves its funding profile by
reducing its reliance on confidence-sensitive short-term funding
while increasing creditor diversification; 2) reduces debt maturity
concentrations; and 3) continues to execute its existing strategy
with strong capital levels

ARI's ratings could be downgraded if the company: 1) experiences a
material weakening in profitability as a result of higher problem
loans, or 2) increases second lien exposure without mitigating
protections.

The principal methodology used in this rating was Finance Companies
Methodology published in November 2019.


ARCHDIOCESE OF NEW ORLEANS: Sex Abuse Claims Grow as Deadline Nears
-------------------------------------------------------------------
David Hammer of 4WWL reports that as March 1, 2021, 5 p.m. deadline
to file sex abuse claims against the local Catholic Church loomed,
roughly 50 claimants filed forms saying they were preyed upon by
members of the clergy.

Another 370 claimants filed proof of claim forms saying the
Archdiocese of New Orleans owed them millions of dollars for other
reasons, from outstanding utility company bills to accidental falls
on church property.

The New York-based firm processing the compensation demands
received at least 56 claims in which the claimant's name and
address was intentionally omitted, a likely signal those were filed
by anonymous clergy abuse victims.

That number is likely to grow, according to attorneys counseling
alleged victims.

Uncertainty surrounding the total number and value of claims could
linger throughout the week. Claims can be filed electronically or
by mail. And documents mailed-in to the claims administrator,
Donlin Recano, will be accepted past the deadline as long as they
were postmarked by Monday.

The Archdiocese of New Orleans filed for Chapter 11 bankruptcy last
May 2020, and is one of at least 27 Catholic dioceses across the
U.S. to do so.

Chapter 11 lets organizations get their books in order while
shielding them from the demands of creditors, who have to fill out
proof of claims forms proving the bankrupt entity owes them money.

The New Orleans Archdiocese said its reorganization was necessary
due to significant financial distress from litigation and
settlement negotiations surrounding the decades-old clerical abuse
scandal, which prompted New Orleans Archbishop Gregory Aymond to
publish a list of priests and deacons who have been considered
credibly accused of child molestation over the years.

That roster, first published in November 2018, lists more than 70
clerics.

Aymond's staff issued a statement saying the arrival of Monday's,
March 1, 2021, deadline -- known as a bar date -- was an important
milestone.

"It is our hope that this brings us one step closer to healing for
survivors of abuse and look to the day when we can be reconciled
with those who have been hurt," it read.

But Kristi Schubert, an attorney who helped people fill out
clerical abuse claims ahead of the deadline, said her clients found
the process to be both logistically vexing and emotionally
grueling. Some started filling out claims but grew so frustrated
they bailed midway.

"There's no doubt in my mind that some people didn't file a claim
because they couldn't decide yet if they were ready to come
forward, and the deadline was just too soon for them," Schubert
said.

Federal bankruptcy court in New Orleans had only recorded 52 total
claims before Monday, mostly from church vendors and individual
Catholic churches. Another eight claims were recorded Monday to
bring the total to 60 claims worth approximately $65.8 million.

A tally by a claims administrator, however, showed more than 400
claims dating back several months. Most of the claims in that tally
do not relate to clergy sexual abuse of minors.

One of those is from Paul Calamari, a priest who is among more than
70 clergymen named by Archbishop Gregory Aymond as a credibly
accused pedophile. He asserts he is owed nearly $70,000 in legal
costs and retirement benefits that were discontinued after the
church filed for bankruptcy.

The Times-Picayune | New Orleans Advocate and WWL-TV sampled some
of the attorneys representing the largest groups of abuse
survivors, and combined, they estimated helping more than 100
claimants file their forms.

Kevin Bourgeois, a clerical molestation survivor who until recently
led the New Orleans chapter of Survivors Network for those Abused
by Priests and now trains archdiocesan staff on responding to
victims' complaints, said he helped a family friend fill out the
form online last week. He agreed with Schubert that the process was
psychologically taxing but said he found the process to be
technically smooth.

"It’s the hardest thing anyone will ever do because you have to
document what happened to you, but it's easy in the sense that it's
all online, it's private,” said Bourgeois, who is being paid by
the archdiocese for the training he is providing. "In less than an
hour we went through everything and there were tears shed, hugs
given and support."

The only abuse claims that qualify for compensation under the
bankruptcy process are for sexual abuse of children and vulnerable
adults by ordained clergy prior to May 1, 2020, the date when the
Archdiocese of New Orleans filed for Chapter 11 bankruptcy
protection. After the proof of claim forms are filed, there will be
a court-ordered process for verifying the legitimacy of each
claim.

U.S. Bankruptcy Judge Meredith Grabill, who is overseeing the
archdiocese’s Chapter 11 filing, has not ruled on a request from
clergy abuse claimants to dismiss the church's bankruptcy case
altogether. Grabill has been weighing the decision since August,
and observers believe she is unlikely to grant the request.

The abuse claimants' attorneys contend the church is on much better
financial footing than it lets on in its reorganization case. And
they have accused the church of heading to Bankruptcy Court merely
to settle pending clergy abuse claims as cheaply as possible, with
Monday's, March 1, 2021, bar date essentially serving as an
expiration date for all claims involving past clergy abuse that had
not been reported by then.

            About the Archdiocese of New Orleans

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

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

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

Judge Meredith S. Grabill oversees the case.

The archdiocese's counsel is Jones Walker LLP.  Donlin, Recano &
Company, Inc. is the claims agent.

The Official Committee of Unsecured Creditors tapped Pachulski
Stang Ziehl & Jones, LLP and Locke Lord, LLP as counsel, and
Berkeley Research Group, LLC, as financial advisor.


ARCONIC CORP: Moody's Rates New $300MM Second Lien Notes
--------------------------------------------------------
Moody's Investors Service assigned a Ba3 rating to Arconic
Corporation's new $300 million 2nd lien senior secured notes. All
other ratings remain unchanged. The Speculative Grade Liquidity
Rating remains SGL-1. The outlook is stable. Proceeds from the 2nd
lien senior secured notes will be used to fund the annuitization of
the company's U.S. qualified pension liabilities.

Assignments:

Issuer: Arconic Corporation

Senior Secured Regular Bond/Debenture, Assigned Ba3 (LGD3)

RATINGS RATIONALE

Moody's views the transaction as leverage neutral with the increase
in debt to be largely offset by the reduction in pension
liabilities. The annuitization, which is expected to reduce minimum
annual pension contribution by about $20 million, follows several
actions taken by the company in 2020 to reduce gross pension and
OPEB liabilities.

The Ba3 CFR considers Arconic's strong and leading position in the
mid-stream aluminum industry with a broad operating footprint and
diversified end-market exposure that provides market and geographic
diversity. However, the rating also considers the challenging
conditions facing the aerospace end market, the company's exposure
to volatile aluminum prices despite the metal price pass-through
business model as well as execution risks as a newly independent
company. The company operates through 3 operating segments: Global
Rolled Products (GRP), Building and Construction Systems and
Extrusions and serves 5 principal market segments: Ground
Transportation, Aerospace, Building and Construction, Industrial
and Packaging. GRP is by far the largest contributor generating
close to 80% of revenues and over 80% of EBITDA.

Despite the negative impact of the coronavirus on the company's end
markets, particularly aerospace, Arconic's 2020 performance
exceeded Moody's expectations, leading to higher than forecast
revenues, EBITDA and cash flows and resulting in lower than
estimated year-end leverage. Solid 2H 2020 performance was driven
by the demand rebound in transportation and industrial segments and
the company's ability to conserve cash through cost cuts, capex and
SG&A expense reductions.

Arconic remains well positioned to benefit from the continued
expected recovery in the automotive market in 2021 given the number
of platforms served, notwithstanding that widely reported chip
shortages are adversely impacting production of some of its
customers. Building and construction sector could slow down in 2021
after a solid 2020 as backlogs and new bid requests decline. Weak
demand from the aerospace end-market where company generates about
14% of its revenues, is expected to extend into 2021 and
potentially 2022. That said, as the company's Tennessee plant,
which has transitioned to industrial products, ramps up, provided
that final determinations are made with respect to the imposition
of anti-dumping (AD) and countervailing (CVD) duties under the
trade case filed against aluminum sheet imports, the industrial
segment is poised to demonstrate further improvement in 2021.
Productivity and efficiency improvements together with enhanced
scrap material sourcing are expected to continue to favorably
benefit performance as well.

The SGL-1 Speculative Grade Liquidity rating considers Arconic's
total available liquidity of about $1.5 billion as of December 31,
2020, consisting of cash position of $787 million and about $700
million available under the $800 million ABL facility and the
absence of any debt maturities until 2025.

The stable outlook reflects the view that Arconic will maintain a
good liquidity profile, and that gradual improvement in earnings
performance will continue to unfold over the next twelve to
eighteen months. The company is viewed as conservatively
capitalized, and this together with its solid liquidity position
allows for some cushion in weakening in performance and metrics
observed in 2020.

The Ba1 rating on the first lien senior secured notes reflects
their superior position in the capital structure. The Ba3 rating on
the senior secured 2nd lien notes, at the same level as the CFR,
reflects their weaker position in the capital structure with
limited loss absorption underneath their position, and mostly
coming from the unfunded pension levels and remainder payables,
although the level of secured debt in the capital structure
supports the rating at the CFR level.

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

Moody's would consider an upgrade of Arconic's credit ratings if
leverage (adjusted debt/EBITDA) improves to below 3.5x, interest
coverage (adjusted EBIT/Interest) increases to above 3x and an
adjusted EBIT margin to above 7% on a sustained basis. Expectations
of sustainable positive Moody-s adjusted free cash generation is
also a prerequisite the ratings upgrade.

Arconic's ratings could be downgraded if liquidity, measured as
cash plus revolver availability, evidences a material
deterioration. Expectations of significantly prolonged production
rate cuts by the company's customers or an extended slump in the
automotive and aerospace markets could lead to negative pressure on
the ratings. Quantitatively, ratings could be downgraded if the
adjusted EBIT margin is expected to be sustained below 5% or (Cash
flow from operations less dividends)/debt is sustained below 20%.

The principal methodology used in this rating was Steel Industry
published in September 2017.

Headquartered in Pittsburgh, PA, Arconic is a downstream aluminum
producer active in a number of diverse end markets. Revenues in
2020 were $5.7 billion.


ARETE LAND: Seeks to Hire Diaz & Larsen as Legal Counsel
--------------------------------------------------------
Arete Land Company, LLC seeks approval from the U.S. Bankruptcy
Court for the District of Utah to hire Diaz & Larsen as its legal
counsel.

The firm's services include:

      a. advising the Debtor of its rights, powers and duties;

      b. taking necessary action to protect and preserve the estate
of the Debtor, including the prosecution of actions on the Debtor's
behalf, the defense of actions commenced against the Debtor, the
negotiation of disputes in which the Debtor is involved, and the
preparation of objections to claims filed against the estate;

      c. preparing legal papers;

      d. assisting in presenting the Debtor's proposed plan of
reorganization and all related transactions; and

      e. other necessary legal services in connection with the
Debtor's Chapter 11 case.

Diaz & Larsen received a retainer in the amount of $32,000, of
which $1,738 was used to pay the filing fee.  The firm also used
$7,109.50 of the retainer for legal services rendered and
additional costs incurred prior to the Debtors' Chapter 11 filing.


Andres Diaz, Esq., at Diaz & Larsen, disclosed in a court filing
that the firm does not have any connection with or any interest
adverse to the Debtor, creditors or any other party in interest.

The firm can be reached through:

     Andres Diaz, Esq.
     Timothy J. Larsen, Esq.
     Diaz & Larsen
     307 West 200 South, Suite 3003
     Salt Lake City, UT 84101
     Telephone: (801) 596-1661
     Fax: (801) 359-6803
     Email: courtmail@adexpresslaw.com

                     About Arete Land Company

Arete Land Company, an Orem, Utah-based company that operates in
the traveler accommodation industry, filed its voluntary petitition
for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Utah
Case No. 21-20488) on Feb. 9, 2021.  Christofer Shurian, manager,
signed the petition.  

As of Jan. 31, 2021, the Debtor dislcosed $4,184,852 in assets and
$3,469,900 in liabilities.

Judge William T. Thurman oversees the case.  Andres Diaz, Esq., at
Diaz & Larsen, is the Debtor's legal counsel.


ARMAOS PROPERTY: Granted Cash Collateral Access Thru March 31
-------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Connecticut, Hartford
Division, has authorized Armaos Property Holdings, LLC and Olympic
Hotel Corporation to use cash collateral on an interim basis
through March 31, 2021, with a 10% variance.

The Debtors require the use of cash collateral to pay business
expenses necessary to avoid irreparable harm to their estates.

The Debtors are party to several loan documents. As of the Petition
Date, Access Point Financial, LLC and Small Business Financial
Solutions, LLC made loans to the Debtors for which they received
security interests, and the State of Connecticut Department of
Labor, the State of Connecticut Department of Revenue Services and
the Internal Revenue Service filed certain tax liens with respect
to the personal property of Olympic.

On or about November 9, 2016, the DOL caused a Certificate of Tax
Lien, filing #003148699, recorded with the Secretary of the State
of Connecticut. The DOL tax lien was filed against all personal
property of Olympic Hotel located within the State of Connecticut
to secure the indebtedness of Olympic Hotel for unpaid unemployment
tax contributions for the first through fourth quarters of 2014,
the first through fourth quarters of 2015, and the first through
third quarters of 2016. As of the petition date, the DOL claims
that the amount remaining due pursuant to its tax lien was
$72,331.

On January 31, 2017, the DRS caused a UCC-1 Financing Statement,
filing # 0003196207, to be recorded with the Secretary of the State
of Connecticut. The DRS Tax Lien was filed against "All goods,
inventory, equipment, consumer goods, fixtures, accounts, chattel
paper, instruments, documents, investment property, deposit
accounts, commercial tort claims, and general intangibles situated
in Connecticut and owned by the debtor" to secure unpaid Room
Occupancy, Sales & Use and Withholding taxes owed by the debtor. As
of the petition date, the DRS claims that the amount remaining due
pursuant to its tax lien was $66,058.

On February 6, 2018, for valuable consideration received, the
Debtors executed a Promissory Note in favor of Access Financial in
the original principal amount of $5,300,000. As of the Petition
Date, Access Financial claims the amount of $5,825,701 was owed by
the Debtors on account of the Real Estate Loan Note.

To secure the Real Estate Loan Note, the Debtors executed a Fee and
Leasehold Open End Mortgage Deed, Security Agreement and Fixture
Filing in favor of Access Financial, dated February 6, 2018, and
recorded on February 12, 2018, at Book 1196, Pages 107-141 of the
Groton land records on real property known as 360 Route 12, Groton,
Connecticut 06340.

The Debtors acknowledge and admit that as of the Petition Date: (i)
Access Financial claims the amount of $5,825,701 was owed by the
Debtors on account of the Real Estate Loan Note and Access
Financial claims the amount of $1,166,535 was owed by Debtors on
account of the Equipment Loan Note; (ii) Access Financial claims
that these Access Financial Prepetition Loan Obligations constitute
legal, valid, binding, and non-avoidable obligations of the Debtors
that are not subject to any challenge or defense.

Access Financial has an interest in cash collateral as provided
under sections 361 and 363 of the Bankruptcy Code. Rapid Advance
was owed approximately $182,000 as of the Petition Date and also
asserts an interest in Olympic's cash collateral. The DOL, DRS and
IRS have filed tax liens with respect to the personal property of
Olympic in the total amounts of $72,331.23, $66,058.87, and
$224,092.17, respectively, and also assert interests in Olympic's
cash collateral.

In exchange for the preliminary use of Cash Collateral by the
Debtors, and as adequate protection for the Secured Creditors
interests, the Secured Creditors are granted, subject to the
Carve-Out: (1) a continuing post-petition lien and security
interest in all prepetition property of the Debtors as it existed
on the Petition Date of the same type against which the Secured
Creditors held validly perfected liens and security interests as of
the Petition Date, and (2) a continuing postpetition lien in all
property acquired by the Debtors after the Petition Date of the
same type against which the respective Secured Creditors held
validly perfected liens and security interests as of the Petition
Date, provided however that the Replacement Liens will not extend
to any claims or causes of action arising under chapter 5 of the
Bankruptcy Code, including the proceeds or property recovered in
connection with the pursuit of any such Avoidance Actions.

The Replacement Liens granted to the Secured Creditors will
maintain the same priority, validity and enforceability as their
respective security interests and/or liens had on the Prepetition
Collateral and will be recognized only to the extent of any actual
diminution in the value of the Prepetition Collateral resulting
from the use of Cash Collateral pursuant to the Order.

To the extent the Replacement Liens granted to any Secured Creditor
are insufficient to compensate it for any actual diminution in
value of the Cash Collateral, the Secured Creditor will be entitled
to super-priority administrative claims.

A further hearing to consider the further use of cash collateral
will be held on April 2 at 12 p.m.

A copy of the order is available at https://bit.ly/3r0xiAq from
PacerMonitor.com.

               About Armaos Property Holdings, LLC

Armaos Property Holdings, LLC owns a 140-room hotel located in
Groton, Conn., which is being operated by its sister company
Olympic Hotel Corporation.  Armaos and Olympic have been a
family-owned business since the hotel opened in 1985.  

Armaos Property and Olympic Hotel filed voluntary petitions for
relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Conn.
Lead Case No. 19-20134) on Jan. 30, 2019.  Michael C. Armaos,
manager, signed the petitions.

At the time of the filing, Armaos Property was estimated to have
assets and liabilities at $1 million to $10 million while Olympic
Hotel was estimated to have $50,000 to $100,000 in assets and $1
million to $10 million in liabilities.  

Judge James J. Tancredi oversees the cases.  The Debtors are
represented by James Berman, Esq., at Zeisler & Zeisler, P.C.



ATIS GROUP: Seeks to Restructure Under CCAA
-------------------------------------------
Atis Group Inc., 10422916 Canada Inc., 8528853 Canada Inc. d/b.a
Altek Windows & Doors, 9060642 Canada Inc. d/b/a SDI, 9092455
Canada Inc. d/b/a Alweather Windows & Doors, Distributeur Vitro
Clair Inc., Solarcan Architectural Holding Limited, Vitrerie Levis
Inc. and Vitrotec Portes & Fenêtres Inc., and the Mise-en-cause
Atis LP ("Atis Group") on Feb. 19, 2021, filed for protection under
the Companies' Creditors Arrangement Act to restructure their
operations and submit a plan of compromise and arrangement to their
creditors.

According to the Atis Group, it was historically profitable, its
rapid growth through numerous acquisitions made it difficult to
timely integrate operations and systems throughout the
organization, resulting in significant operating losses in the last
two years.

Atis Group said these losses, combined with (a) unexpected excess
costs for raw materials and a significant decrease in revenue due
to production issues at the Terrebonne plant, (b) decrease in sales
at the Toronto Plant and (c) the consequences of the COVID-19
pandemic which forced Atis Group to close most of its plants and
stores for numerous weeks, resulted in the current financial
situation of Atis Group. Indeed, the decrease in revenue without a
corresponding reduction in operating costs has become untenable.

The monitor's website for the proceedings:
https://www.raymondchabot.com/fr/entreprises/dossiers-publics/atis/

Counsel for the Companies:

   McCarthy Tetrault LLP
   Alain N. Tardif
   Francois-Alexandre Toupin
   Pascale Klees-Themens
   2500 - 1000 De La Gauchetiere St. West
   Montreal, QC H3B 0A2
   Tel: 514-397-4274
        514-397-4210
        514-397-7074
   Emails: atardif@mccarthy.ca
           fatoupin@mccarthy.ca
           pkleesthemens@mccarthy.ca

Atis Group is a group of window and door manufacturers whose
products were sold under various brands including Laflamme,
Vinylbilt, Solarcan, Vimat, Supervision, Melco, Allsco, and Altek.
As of December 31, 2020, Atis Group operated seven manufacturing
plants, had 26 stores located across Canada, and generated revenues
of over $115.0 million. Between the time of its creation in 2004
and 2017, Atis Group achieved growth through more than 20
acquisitions.


AVERY ASPHALT: Has Until March 20 to Use Cash Collateral
--------------------------------------------------------
Judge Michael E. Romero of the U.S. Bankruptcy Court for the
District of Colorado authorized Avery Asphalt, Inc. and its
affiliated Debtors to use cash collateral on an interim basis,
until March 20, 2021.

Secured Parties Sunflower Bank, N.A., Greenline CDF Subfund XXIII
LLC and Nationwide Mutual Insurance Company asserted that they have
valid, perfected security interests in substantially all the
Debtors' personal property, including, but not limited to Debtors'
accounts, equipment, general intangibles, inventory, proceeds
thereof and other assets.  The Debtors contended that any potential
claims of Nationwide are contingent and unliquidated.

The Debtors told the Court they need to use Cash Collateral in
order to permit, among other things, the orderly continuation of
the operation of its businesses, to maintain business relationships
with vendors, suppliers and customers, to make payroll and to
satisfy other working capital needs.  The Debtors further claimed
their ability to obtain sufficient working capital and liquidity
through the use of Cash Collateral is vital to the preservation and
maintenance of the going concern value of the Debtors.

The Debtors were authorized to use Cash Collateral pursuant to the
approved Budget and was prohibited from exceeding each line-item by
more than 10% per month and the overall estimated expenses by more
than 10% in the aggregate per month.  Judge Romero said that the
estimated expenses may exceed these limits with prior written
approval from Sunflower.  The Debtor was not authorized to use Cash
Collateral to pay any professional fees for the time being.

Each of the Secured Parties were granted replacement liens and
security interest upon the Debtors' post-petition assets with the
same priority and validity as their pre-petition liens and security
interests to the extent of the Debtors' post-petition use of cash
on hand and the proceeds of Pre-Petition Personal Property.  Each
of the Secured Party's Adequate Protection Liens will be limited to
the extent of value of such Secured Party's, interest, if any, in
the estate's interest in the Pre-Petition Personal Property.

To the extent that the Adequate Protection Liens prove to be
insufficient, each of the Secured Parties, as may be applicable,
will be granted superpriority administrative expense claims under
section 507(b) of the Bankruptcy Code but only to the extent that
such Secured Party has a valid allowed secured claim under section
506(a) in the Cash Collateral used.

A final hearing on Debtors' Motion for use of cash collateral will
be held on March 17, 2021 at 1:30 p.m.

A full-text copy of the Stipulated Interim Order Authorizing
Debtor's Use of Cash Collateral is available for free at
https://tinyurl.com/tdy5pdkm from PacerMonitor.com.

                    About Avery Asphalt

Avery Asphalt, Inc. sought protection under Chapter 11 of the
Bankruptcy Code on February 19, 2021 (Bankr. D. Colo. Case No.
21-10799).  The petition was signed by CEO, Aaron Avery.  At the
time of the filing, the Debtor estimated assets at $0 to $50,000
and liabilities at $1 million to $10 million.  The Debtor is
represented by David J. Warner, Esq., at Wadsworth Garber Warner
Conrardy, P.C.



AVERY ASPHALT: Seeks Approval to Hire Wadsworth Garber as Counsel
-----------------------------------------------------------------
Avery Asphalt, Inc. and its affiliates seek approval from the U.S.
Bankruptcy Court for the District of Colorado to employ Wadsworth
Garber Warner Conrardy, PC as their legal counsel.

The firm will render these legal services:

     (a) prepare legal papers;

     (b) represent the Debtors in any litigation; and

     (c) perform all legal services necessary to administer the
Debtors' Chapter 11 cases.

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

     David V. Wadsworth    $450
     Aaron A. Garber       $425
     David J. Warner       $350
     Aaron J. Conrardy     $350
     Lindsay S. Riley      $250
     Samuel A. Randles     $200
     Paralegals            $125

David Warner, Esq., an attorney at Wadsworth Garber, disclosed in
court filings that the firm is a "disinterested person" as that
term is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     David J. Warner, Esq.
     Aaron J. Conrardy, Esq.
     Wadsworth Garber Warner Conrardy, PC
     2580 West Main Street, Suite 200
     Littleton, CO 80120
     Telephone: (303) 296-1999
     Facsimile: (303) 296-7600
     Email: dwarner@wgwc-law.com
            aconrardy@wgwc-law.com

                        About Avery Asphalt

Avery Asphalt, Inc., a Colorado-based asphalt paving contractor,
and its affiliates filed voluntary petitions for relief under
Chapter 11 of the Bankruptcy Code (Bankr. D. Colo. Case No.
21-10799) on Feb. 19, 2021.

The affiliates are Avery Equipment LLC, Avery Holdings LLC, 1401 S.
22nd Avenue LLC, LBLA Ventures Inc., and Regional Pavement
Maintenance of Arizona Inc. (Case Nos. 21-10800, 21-10801,
21-10802, 21-10805 and 21-10808).

At the time of the filing, the Debtors each disclosed less than
$50,000 in assets and $1 million to $10 million in liabilities.

Wadsworth Garber Warner Conrardy, PC serves as the Debtors' legal
counsel.


BARETTE OUTDOOR: Moody's Hikes Rating on First Lien Loan to B2
--------------------------------------------------------------
Moody's Investors Service upgraded LEB Holdings (USA), Inc.'s (aka
"Barrette Outdoor Living") senior secured first lien term loan to
B2 from B3. In addition, the company affirmed the B2 Corporate
Family Rating and B2-PD Probability of Default Rating. The outlook
remains stable.

The upgrade follows the company's announced $125 million add-on to
its senior secured first-lien term loan and reflects improved
recovery for that class of debt given that it now comprises a
higher share of the overall capital structure. Net proceeds of the
add-on will be used for general corporate purposes including future
acquisitions. The immediate impact of the transaction will result
in an increase to pro forma adjusted debt/EBITDA to 5.2x from 3.8x
as of September 30, 2020 and a decline to LTM EBIT interest
coverage to 3.4x from 4.5x. Barrette Outdoor Living has experienced
a surge in demand for its products in the second half of 2020 amid
the coronavirus pandemic and the resulting need for families to
spend more time at home, which will result in deleveraging through
earnings growth. Moody's forecasts adjusted debt/EBITDA to decline
to 4.3x by year-end 2021.

Upgrades:

Issuer: LEB Holdings (USA), Inc.

Senior Secured Bank Credit Facility, Upgraded to B2 (LGD4) from B3
(LGD4)

Affirmations:

Issuer: LEB Holdings (USA), Inc.

Corporate Family Rating, Affirmed B2

Probability of Default Rating, Affirmed B2-PD

Outlook Actions:

Issuer: LEB Holdings (USA), Inc.

Outlook, Remains Stable

RATINGS RATIONALE

Barrette Outdoor Living's B2 corporate family rating reflects
favorable fundamentals that support investment in home improvement,
including the desire to increase home values. Moody's expects the
overall building products sector to continue to benefit from a
shift in consumers' discretionary spending to home improvement over
the next twelve months as many employees continue to regularly work
from home as a result of the coronavirus pandemic. Approximately
85% of Barrette's revenues are derived from the repair and remodel
segment, where demand tends to be less volatile through market
cycles as compared with new housing construction.

These factors are counterbalanced by the company's reliance on The
Home Depot and Lowe's, which collectively represent just under half
of the company's revenues. While Barrette holds a dominant market
position in Home Depot and Lowe's, these retailers are high-volume
purchasers with strong bargaining power, which could negatively
impact the company's sales volumes or margins. Moody's ratings also
consider Barrette's exposure to new housing construction, where
demand tends to be more volatile through cycles.

Despite Moody's expectations of negative free cash flow over the
next 12 to 18 months as a result of increased investment to support
growth, Barrette's liquidity is expected to be good over the same
time period. In addition to $42 million of cash on balance sheet at
the end of 2020, the company had full availability under its $75
million asset-based revolver due in 2025.

Moody's expects Barrette to maintain a measured approach to its
financial policy and not aggressively increase leverage. The
company is not expected to pay out a regular distribution to its
equity sponsors, with excess capital likely reinvested back into
the business or used for future tack-on acquisitions.

The stable outlook reflects Moody's expectations of stable demand
within the repair and remodel segment of housing as well as
Barrette's maintenance of good liquidity.

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

The ratings could be upgraded should adjusted debt to EBITDA be
maintained below 5.0x and EBITA to interest coverage is maintained
above 3.0x while maintaining good liquidity. A ratings upgrade
would also be predicated on an increase in scale, while reducing
the company's concentration with The Home Depot and Lowe's. Stable
end market conditions would also be an important consideration for
a ratings upgrade.

Ratings could be downgraded if adjusted debt-to-EBITDA approaches
6.0x, interest coverage declines below 2.0x, the company's
financial strategy becomes aggressive or liquidity deteriorates.

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

LEB Holdings (USA), Inc., headquartered in Ohio, is a leading
manufacturer and distributor of wood-alternative fence and railing,
with a growing presence in decking and other outdoor living
products. For the twelve months ended September 30, 2020, the
company generated approximately $611 million in revenue.


BELK INC: Moody's Lowers PDR to D-PD/LD Following Chapter 11 Filing
-------------------------------------------------------------------
Moody's Investors Service downgraded Belk, Inc.'s probability of
default rating to D-PD from Ca-PD /LD following the company's
announcement of its voluntary prearranged Chapter 11 proceeding.
The outlook has been revised to stable from negative.

The downgrades reflect governance considerations particularly
Belk's prepackaged Chapter 11 filing after entering a restructuring
support agreement with holders of over 99% of the first lien term
loan debt and 100% of the second lien term loan debt.

Downgrades:

Issuer: Belk, Inc.

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

Outlook Actions:

Issuer: Belk, Inc.

Outlook, Changed To Stable From Negative

RATINGS RATIONALE

On February 24, 2021, Belk, Inc. and its subsidiaries had its
voluntary prearranged Chapter 11 filing approved in the U.S.
Bankruptcy Court in Houston, Texas. The company has received new
capital commitments in total of $225 million from Sycamore Partners
("Sycamore"), KKR and Blackstone Credit which will enable a return
to more normalized terms with its vendors. Sycamore remains the
majority owner of the company. Funded debt was reduced by
approximately $450 million, and its term loan maturities extended
until July 2025 through the bankruptcy process.

Subsequent to the actions, Moody's will withdraw all of its ratings
for Belk, Inc. given the company's bankruptcy filing.

Headquartered in Charlotte, North Carolina, Belk, Inc. operates 291
stores in 16 states primarily in Southeastern states. The company
generated revenue of approximately $3.2 billion during the LTM
period ending October 31, 2020. The company was acquired by
Sycamore Partners in a transaction valued at approximately $3
billion in December 2015.

The principal methodology used in this rating was Retail Industry
published in May 2018.


BLANK LABEL: Gets Interim Cash Collateral Access
------------------------------------------------
The U.S. Bankruptcy Court for the District of Massachusetts has
authorized Black Label Group, Inc. to use cash collateral on an
interim basis through the effective date of the Modified First
Amended Combined Plan of Reorganization and Disclosure Statement
Plan as provided in the order.

The Debtor is authorized to use cash collateral: (i) substantially
in accordance with the revised budget filed on January 8, 2021, and
(ii) subject to the same terms and conditions as set forth in the
Fourth Interim Cash Collateral Order dated August 28, 2020 as
modified by the Sixth Interim Cash Collateral Order dated October
27, 2020, and the Order.

A copy of the order is available for free at https://bit.ly/37TjSP3
from PacerMonitor.com.

                  About Blank Label Group Inc.

Blank Label Group, Inc. -- https://www.blanklabel.com/ -- is a
clothing retailer that has provided custom clothing in stores and
online for the past 12 years. By developing an integrated supply
chain and digitization, it has been able to offer custom clothing
at a more affordable price point.

On May 26, 2020, Blank Label sought Chapter 11 protection (Bankr.
D. Mass. Case No. 20-11201).  The Debtor was estimated to have $1
million to $10 million in assets and liabilities as of the filing.
John T. Morrier, Esq., at CASNER & EDWARDS, LLP, is the Debtor's
counsel.



BOSTON DONUTS: Allowed to Use Cash Collateral Until April 30
------------------------------------------------------------
Judge Christopher J. Panos of the U.S. Bankruptcy Court for the
District of Massachusetts authorized Boston Donuts, Inc. and its
affiliated Debtors to use cash collateral until April 30, 2021.

Secured Parties Hometown Bank, Quickstone Capital, and the
Massachusetts Department of Revenue may assert liens and security
interests in certain of the Debtors’ assets.

Judge Panos found that "the Debtors require the use of cash
collateral in order to preserve their operations and the value of
their assets."

Judge Panos held the Cash Collateral may be used and solely (a) up
to the amounts stated for any line item for the purposes identified
in the Budgets or (b) as expressly consented to in advance in
writing by the Secured Parties, with notice to the U.S. Trustee.

The approved Budget provided for total expenses in the amount of
$6,525 for each of the months of February and March, and $12,748
for each of the months of April through September.  

The Secured Parties were granted a continuing post-petition
replacement lien and security interest in all post-petition
property of the estate of the same type against which they held
validly perfected liens and security interest as of the Petition
Date.  The Replacement Liens will maintain the same priority,
validity and enforceability as the liens on the Collateral, and
shall be recognized only to the extent of any diminution in the
value of the Collateral resulting from the use of Cash Collateral
pursuant to the Court's Order.

A full-text copy of the Ninth Order Authorizing Use of Cash
Collateral is available for free at https://tinyurl.com/4k5pn8dd
from PacerMonitor.com.

                    About Boston Donuts, Inc.

Boston Donuts, Inc., generates revenues by manufacturing and
selling donuts.  The Company sought Chapter 11 protection (Bankr.
D. Mass. Lead Case No. 19-41141) on July 11, 2019 along with its
debtor-affiliates Costa Cafe Inc., Maple Avenue Donuts, Inc., W&E
Trust, Inc., and EOR Holding Corporation.  Their cases are jointly
administered.

Judge Christopher J. Panos oversees the case.

James P. Ehrhard, Esq., at Ehrhard & Associates, P.C., represents
the Debtors as counsel.


BOUCHARD TRANSPORTATION: U.S. Trustee Appoints Committee
--------------------------------------------------------
The U.S. Trustee for Region 7 appointed an official committee to
represent unsecured creditors in the Chapter 11 cases of Bouchard
Transportation Co Inc. and its affiliates.

The committee members are:

     1. VT Halter Marine
        Attn: D. Margaret Gambrell
        900 Bayou Casotte Pkwy.
        Pascagoula, MS 39581
        Tel: 228-696-6870
        E-mail: m.gambrell@vthm.com

        Counsel: Bland & Partners
        Allison Colon, Esq.
        5500 Prytania Street, Suite 618
        New Orleans, LA 70115
        Tel: 504-289-3813
        E-mail: acolon@blandpartners.com

     2. CRG Financial LLC
        Attn: Jeffrey Kaplan
        100 Union Avenue, Suite 240
        Cresskill, NJ 07626
        Tel: 917-754-9852
        E-mail: jkaplan@crgfinancial.com

     3. Justin Peaslee
        Attn: Paul T. Hofmann, Esq.
        Hofmann & Schweitzer
        212 W. 35th Street, 12th Floor
        New York, NY 10001
        Tel: 212-465-8840
        Fax: 212-465-8849
        E-mail: paulhofmann@hofmannlawfirm.com

        Counsel: Paul T. Hofmann, Esq.
        Hofmann & Schweitzer
        212 W. 35th Street, 12th Floor
        New York, NY 10001
        Tel: 212-465-8840
        Fax: 212-465-8849
        E-mail: paulhofmann@hofmannlawfirm.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 Bouchard Transportation

Founded in 1918, Bouchard Transportation Co., Inc'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 and certain of its affiliates sought Chapter 11 protection
(Bankr. S.D. Texas Lead Case No. 20-34682) on Sept. 28, 2020.  At
the time of the filing, the Debtors had estimated assets of between
$500 million and $1 billion and liabilities of between $100 million
and $500 million.  

The Debtors tapped Kirkland & Ellis LLP, Kirkland & Ellis
International LLP and Jackson Walker LLP as their legal counsel;
Portage Point Partners, LLC as restructuring advisor; and Jefferies
LLC as investment banker.  Stretto is the claims agent.


BOY SCOUTS: Committees' Challenge Period Extended to March 12
-------------------------------------------------------------
The Boy Scouts of America and Delaware BSA, LLC, the Official Tort
Claimants' Committee, the Official Unsecured Creditors' Committee
of the Debtors, the Future Claims Representative of the Debtors,
JPMorgan Chase Bank, N.A., in its capacity as Prepetition Agent and
Prepetition Secured Lender, submitted to the U.S. Bankruptcy Court
for the District of Delaware for approval their Eighth Stipulation
with Prepetition Secured Parties Reserving Certain Committee Rights
Pursuant to Final Cash Collateral Order.

The Challenge Parties, consisting of the Tort Committee, the
Creditors' Committee, and the FCR, have only until the expiration
of the Challenge Period to file a Standing Motion, as to one or
both of the Debtors, with respect to a Challenge Proceeding which,
in accordance with the terms and conditions of the Final Order,
shall extend the Challenge Period and preserve the Challenge
Parties’ rights under the Final Order, subject to the terms and
conditions of the Final Order.

To memorialize the agreement among the Challenge Parties, the
Prepetition Secured Parties and the Debtors to further extend the
Challenge Period under the Final Order, the Parties have agreed to
enter into a Stipulation.

The Stipulation extends the Challenge Period for the Challenge
Parties to March 12, 2021.  Other than the extension of the
Challenge Period, the Final Order and Third Stipulation will remain
in full force and effect and the ability of the Challenge Parties
to file a Challenge Proceeding remains subject entirely to any and
all of the limitations contained in the Final Order and the Third
Stipulation.

A full-text copy of the Eight Stipulation Eighth Stipulation with
Prepetition Secured Parties Reserving Certain Committee Rights
Pursuant to Final Cash Collateral Order, dated February 25, 2021,
is available for free at https://tinyurl.com/yypysbhn from
omniagentsolutions.com.

                    About Boy Scouts of America
                      and Delaware BSA, LLC

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

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

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

The Debtors have tapped Sidley Austin LLP as their bankruptcy
counsel, Morris, Nichols, Arsht & Tunnell LLP as Delaware counsel,
Alvarez & Marsal North America, LLC as financial advisor, and JLL
Valuation & Advisory Services, LLC as appraiser and valuation
services provider. Omni Agent Solutions is the claims agent.

The U.S. Trustee for Region 3 appointed a tort claimants' committee
and an unsecured creditors' committee on March 5, 2020.  The tort
claimants' committee is represented by Pachulski Stang Ziehl &
Jones, LLP while the unsecured creditors' committee is represented
by Kramer Levin Naftalis & Frankel, LLP.



BOY SCOUTS: Releases Plan to Deal With Sexual Abuse Claims
----------------------------------------------------------
Samantha Schmidt of Washington Post reports that the Boy Scouts of
America released a bankruptcy reorganization plan late Monday,
March 1, 2021, calling for local councils to contribute at least
$300 million to a trust to settle tens of thousands of sex-abuse
claims.

The long-awaited reorganization plan, filed as part of the Boy
Scouts' ongoing Chapter 11 bankruptcy proceedings, begins to
outline how the embattled organization aims to compensate the
deluge of 85,000 potential victims who came forward last year with
claims.  But lawyers on behalf of both the victims and the group's
insurers say they are unsatisfied with the plan.

The Boy Scouts of America, which filed for bankruptcy in February
2020, had initially sought to shield its local councils from the
bankruptcy process. But more recently, it became clear that any
settlement was going to involve local council participation, and
Monday’s filing anticipates a $300 million contribution from some
of the Boy Scouts' 253 councils across the country.  The plan did
not state which councils would contribute to the fund, or how.

                 About Boy Scouts of America

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

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

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

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

The U.S. Trustee for Region 3 appointed a tort claimants' committee
and an unsecured creditors' committee on March 5, 2020.  The tort
claimants' committee is represented by Pachulski Stang Ziehl &
Jones, LLP while the unsecured creditors' committee is represented
by Kramer Levin Naftalis & Frankel, LLP.


BRAZOS ELECTRIC: Creditors Line Up to Collect $2.87 Billion Claims
------------------------------------------------------------------
Michael Tobin of Bloomberg News reports that Morgan Stanley and
Goldman Sachs Group Inc. as well as energy titan Royal Dutch Shell
Plc are among the unsecured creditors lining up to collect on $2.87
billion in total claims after Texas power firm Brazos Electric
Power Cooperative Inc. filed for bankruptcy.

The top 10 creditors have claims for assets ranging from
collateral, credit lines and power derivatives against Brazos,
which filed for Chapter 11 on Monday, March 1, 2021. The biggest
creditor is the Electric Reliability Council of Texas, with a
disputed $1.81 billion claim for collateral. Natural gas and power
suppliers are seeking more than $200 million.

                   About Brazos Electric

Brazos Electric Power Cooperative is a 3,994-megawatt transmission
and generation cooperative which members' service territory covers
68 counties from the Texas Panhandle to Houston.  It was organized
in 1941 and the first cooperative formed in the Lone Star state
with the primary intent of generating and supplying electrical
power.  At present, it is the largest generation and transmission
cooperative in the state and is the wholesale power supplier for
its 16 member-owner distribution cooperatives and one municipal
system.

Brazos Electric Power Cooperative filed a voluntary petition for
relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.
Tex. Case No. 21-30725) on March 1, 2021.

Brazos listed at $1 billion to $10 billion in assets and
liabilities as of the filing.

Brazos Electric has hired Norton Rose Fulbright and Dallas partner
Louis Strubeck to lead its restructuring effort.  Foley & Lardner
LLP bankruptcy partner Holland O'Neil is also advising Brazos
Electric.


BREWSA BREWING: Unsecured Creditors to Recover 10% in Plan
----------------------------------------------------------
BrewSA Brewing Company LLC on Feb. 24, 2021, filed an Amended
Disclosure Statement in support of its Plan of Reorganization dated
Dec. 10, 2020.

Under the Debtor's Plan, the general unsecured creditors are
receiving 10% of allowed claims in seven monthly payments each year
for 5 years commencing on the Effective Date, which is the first
Business Day after the Bankruptcy Court enters the order approving
the Plan.

The Plan proposes to treat claims and interests as follows:

   * Class 1. (M&T Bank). Bank's Secured Claim of $370,000 will be
satisfied in ten (10) years with payment of $750 per month for
December through April and the monthly payment of $4,750 for May
through November commencing on the Effective Date. It shall retain
its lien on all of BrewSA's assets.

   * Class 2. (Gro Grove Realty LP - "Landlord"). Class 2, which is
impaired, pursuant to a Stipulation and Order dated September 8,
2020, will be satisfied by the Debtor's four (4) payments of
$5,000,00 on April 1, 2021, May 1, 2021, June 1, 2021 and July 1,
2021. The Debtor is also obligated to make lease payments in
accordance with the real estate leases between the Debtor and
Landlord.

   * Class 3. (General Unsecured Claims).  There are 16 claims
asserted in the aggregate amount of $662,652, which will be
satisfied by the payment of 10% of allowed claims in payments over
5 years commencing on the Effective Date.

   * Class 4. (Stock Interests). Class 4 consists of the holders of
common stock of the Debtor. The stock will be canceled. The
reorganized BrewSA will issue 100 percent of the stock to the
existing stockholders who will collectively provide capital of up
to Ten Thousand and 00/100 ($10,000.00).

On effective date, the debtor will need $33,000 in its bank account
to make the initial payments required under the Plan.

Attorney for the Debtor:

     Marc A. Pergament
     Weinberg, Gross & Pergament LLP
     400 Garden City Plaza, Suite 403
     Garden City, New York 11530
     (516) 877-2424

A copy of the Amended Disclosure Statement is available at
https://bit.ly/3r8JejO from PacerMonitor.com.

                  About BrewSA Brewing Company

BrewSA Brewing Company LLC was formed in 2015 for the purpose of
manufacturing and distributing beer to retail customers and to sell
directly to the general public.  BrewSA filed a Chapter 11
bankruptcy petition (Bankr. E.D.N.Y. Case No. 19-77972) on Nov. 22,
2019, estimating under $1 million in both assets and liabilities.
The Debtor is represented by Marc A. Pergament, Esq., at Weinberg
Gross & Pergament LLP.


CALAIS REGIONAL: Committee Plan Has $654K to Pursue Suits
---------------------------------------------------------
The Official Committee of Unsecured Creditors and Katahdin Trust
Company filed a First Amended Chapter 11 Plan and a corresponding
Disclosure Statement for debtor Calais Regional Hospital.

The Debtor does not agree with all of the characterizations made by
the Plan Proponents in this Disclosure Statement, just as the Plan
Proponents do not agree with all of the characterizations the
Debtor wishes to include.  Because the Plan Proponents and the
Debtor desire to work cooperatively, however, to achieve
confirmation of the Plan and closing of the transaction described
therein, the Plan Proponents have given the Debtor the opportunity
to set forth its perspective in various places in this Disclosure
Statement.

The onset of the COVID-19 pandemic, the federal government provided
substantial stimulus payments to healthcare providers, including
rural, critical access hospitals like the Debtor. As of October 31,
2020, the Debtor had received $4,627,317 in federal stimulus
payments and recognized most of these payments as "other operating
revenues" on its financial statements. Thus, while the Debtor
reports "operating gains" of $529,840 between the Petition Date and
October 31, 2020, these "gains" are the result of one-time federal
stimulus payments related to COVID-19, not hospital operations.
Hospital operations have actually resulted in substantial losses
for the Debtor and its bankruptcy estate, consistent with the
Debtor's financial performance in the years leading to bankruptcy.

The Plan Proponents understand that the Debtor is currently
anticipating certain reconciliation payments in the near future
from Centers for Medicare and Medicaid Services in the estimated
amount of $1,000,000 to $1,200,000.  Additionally, if the Plan is
confirmed and the Effective Date occurs prior to March 31, 2021,
the Plan Officer and Purchaser intend to apply for a Paycheck
Protection Program loan, which may unlock substantial value for the
Estate.

As of the Petition Date, the Debtor reported total assets with a
total value of $14,194,802 consisting of real estate, inventory,
equipment, account receivable, cash, investment property and other
assets.

Under the Plan, substantially all of the assets of the Debtor will
be sold to Calais Community Hospital, an entity affiliated with
Down East Community Hospital, which is located in Machias, Maine.

The Plan provides that Class One shall consist of the secured
claims related to the KTC Loans and the USDA Loans.  Class One
claims will be Allowed in the aggregate amount of $14,469,950.  The
Class One claims will be fully and finally satisfied in two ways
under the Plan.  The Purchaser will execute and deliver a
promissory note to USDA in connection with the sale of the
Purchased Assets, evidencing the assumption of $2 million of USDA
debt, all in accordance with the terms of the APA.

Class Six shall consist of all general unsecured claims.  Class Six
Claims are impaired. On the Closing Date, each holder of an Allowed
Class Six claim will receive a pro-rata interest in the Litigation
Trust and become the sole beneficiaries of the Litigation Trust.
The Plan Officer will transfer cash in the amount of $653,747 to
the Litigation Trust and assign certain claims and causes of action
to the Litigation Trust.

The Committee notes that as to Class One, the amount of recovery is
subject to variation based on the amount of cash available on the
Closing Date, the amount of accounts receivable recovered, and the
amount of administrative expenses and priority claims ultimately
Allowed and paid from funds that might otherwise be available to
satisfy Class One claims.  Additionally, the Purchaser may default
on the promissory note delivered to USDA, diminishing its recovery.
As to Class Six, the Litigation Trustee's avoidance and recovery
of preferential transfers might be less than the estimated recovery
rate, which would reduce funds available from the Litigation Trust
for the benefit of Class Six creditors.  These risks, however, are
essentially unquantifiable and are not, in the Plan Proponent's
opinion, grounds for any creditor to vote against this Plan.  The
Plan Proponents do not believe that these risks will undermine
their ability to satisfy the obligations under the Plan. Although
there are risks associated with the Plan, the Plan is presently the
only option to exit this Bankruptcy Case and distribute money to
the Debtor's creditors.  The Plan Proponents believe that the Plan
provides the best possible solution to this Bankruptcy Case, and
the best path to maximize recovery for all the Debtor's creditors
as rapidly as possible.

Counsel to the Official Committee of Unsecured Creditors:

     Jeremy R. Fischer
     Kellie W. Fisher
     DRUMMOND WOODSUM
     84 Marginal Way, Suite 600
     Portland, Maine 04101-2480
     Telephone: (207) 772-1941
     E-mail: jfischer@dwmlaw.com
                  kfisher@dwmlaw.com

             - and -

Counsel to Katahdin Trust Company:

     Roger A. Clement, Jr.
     VERRILL DANA LLP
     One Portland Square Portland, ME 04101-4054
     Telephone: (207) 774-4000
     E-mail: rclement@verrill-law.com

A copy of the Disclosure Statement is available at
https://bit.ly/3dScqrc from PacerMonitor.com.

                About Calais Regional Hospital

Based in Calais, Maine, Calais Regional Hospital operates as a
non-profit organization offering cardiac rehabilitation, emergency,
food and nutrition, home health, inpatient care unit, laboratory,
nursing, radiology, respiratory care and stress testing, surgery,
and social services. Visit https://www.calaishospital.org/ for
more
information.

Calais Regional Hospital filed a Chapter 11 petition (Bankr. D.
Maine Case No. 19-10486) on Sept. 17, 2019.  At the time of the
filing, the Debtor disclosed assets of between $10 million and $50
million and liabilities of the same range.

Judge Michael A. Fagone oversees the case.  

Debtor tapped Murray Plumb & Murray as its bankruptcy counsel,
Spinglass Management LLC as financial advisor; and Kelly, Remmel &
Zimmerman and Norman Hanson Detroy LLC as special counsel.


CALLON PETROLEUM: Swings to $2.5 Billion Net Loss in 2020
---------------------------------------------------------
Callon Petroleum Company filed with the Securities and Exchange
Commission its Annual Report on Form 10-K disclosing a net loss
available to common stockholders of $2.53 billion on $1.03 billion
of total operating revenues for the year ended Dec. 31, 2020,
compared to net income available to common stockholders of $55.63
million on $671.57 million of total operating revenues for the year
ended Dec. 31, 2019.

As of Dec. 31, 2020, the Company had $4.36 billion in total assets,
$3.65 billion in total liabilities, and $711 million in total
stockholders' equity.

Fourth Quarter 2020 Highlights

   * Fourth quarter 2020 production of 94.9 MBoe/d (62% oil), an
     increase of 103% over fourth quarter 2019 volumes and a
     sequential decrease of 7% including the impact of completed
     divestitures

   * Generated $134.6 million of net cash provided by operating
     activities and adjusted free cash flow1 of $24.4 million

   * Loss available to common stockholders of $505.1 million, or
     $12.71 per diluted share, driven by an impairment of evaluated

     oil and gas properties of $585.8 million, adjusted EBITDA of  
  
     $167.8 million, and adjusted income1 of $42.8 million or $1.00

     per diluted share

2021 Capital Plan Highlights

   * Operational capital budget of up to $430 million, a 12%
     reduction relative to 2020 spending, with approximately 70%
     allocated to Permian activity

   * Annual production guidance of 90 - 92 MBoe/d (63% oil)
     inclusive of estimated winter storm impacts of approximately 2

     MBoe/d for the full year 2021

   * Expected adjusted free cash flow generation of approximately
     $150 million at $50/Bbl oil (WTI benchmark)

Joe Gatto, president and chief executive officer commented, "In a
year marked by extraordinary volatility in commodity prices and
workplace challenges created by the COVID-19 pandemic, our newly
integrated team executed flawlessly on a revamped set of
operational and financial initiatives that ultimately delivered
over $120 million of adjusted free cash flow since the beginning of
the second quarter, dramatically improving our liquidity and
absolute debt position.  Importantly, these accomplishments were
complemented by significant achievements related to employee safety
and environmental emissions."

He continued, "Our medium-term development plans are squarely
focused on free cash flow generation and absolute debt reduction.
Given our leading operating margins and low-cost resource base, the
magnitude and pace of improvements in financial strength from
organic cash flows are highly differentiated in the sector.  Our
2021 capital budget, inclusive of capitalized expenses, implies a
reinvestment rate of approximately 75% of discretionary cash flow
at $50 per barrel WTI price and a free cash flow breakeven price of
approximately $40 per barrel.  We will continue to manage our
future capital reinvestment rate3 within a targeted range of 65% to
75% under a range of pricing environments, which is expected to
generate adjusted free cash flow in a range of $500 to $800 million
over the next three years assuming WTI oil prices of $50 to $60 per
barrel. In addition, we are targeting asset monetizations of
approximately $125 to $225 million in 2021 to further our debt
reduction goals, meeting our original 2020 total divestiture
targets after including transactions completed last year.  As
divestiture market conditions continue to improve, we are
evaluating opportunities for incremental, credit enhancing
monetizations above our targeted levels."

Operations Update and Outlook

At Dec. 31, 2020, Callon had 1,496 gross (1,320.6 net) horizontal
wells producing from established flow units in the Permian and
Eagle Ford.  Net daily production for the three months ended Dec.
31, 2020 grew 103% to 94.9 MBoe/d (62% oil) as compared to the same
period of 2019.  Full year production for 2020 averaged 101.6
MBoe/d (63% oil) reflecting growth of 146% over 2019 volumes.

For the three months ended Dec. 31, 2020, Callon drilled 22 gross
(20.0 net) horizontal wells and placed a combined 16 gross (14.3
net) horizontal wells on production.  Wells placed on production
during the quarter were completed in the Lower Spraberry and
Wolfcamp A in the Midland Basin and the Wolfcamp A and Wolfcamp C
in the Delaware Basin.

Recently, severe winter storms affected field operations in both
the Permian and Eagle Ford resulting in the shut-in of nearly 100%
of the Company's operated production.  Currently, the Company has
returned nearly all of its Eagle Ford and Midland Basin wells to
production and expects to have all of its Delaware well production
returned by the end of February.  The estimated annualized impact
of these deferrals is approximately 2,000 Boe/d.  This has been
reflected in our updated production guidance for 2021.  The impact
to its drilling and completion operations were not significant
enough to alter its expectations for the full year development
schedule and any additional operational costs are currently
reflected in its lease operating expense guidance.

Currently, the Company has three active rigs with one each in the
Midland, Delaware, and Eagle Ford.  The Company recently deployed a
second completion crew and has operations taking place in the
Delaware and Eagle Ford.

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

https://www.sec.gov/ix?doc=/Archives/edgar/data/928022/000092802221000021/cpe-20201231.htm

                       About Callon Petroleum

Callon Petroleum -- http://www.callon.com-- is an independent oil
and natural gas company focused on the acquisition, exploration and
development of high-quality assets in the leading oil plays of
South and West Texas.

                             *    *    *

As reported by the TCR on Feb. 15, 2021, S&P Global Ratings raised
its issuer credit rating on Houston-based oil and gas exploration
and production company Callon Petroleum Co. to 'CCC+' from 'SD'
(selective default), reflecting its assessment of the company's
credit risk going forward and the potential for another exchange
that it could view as distressed.

In December 2020, Moody's Investors Service downgraded Callon
Petroleum Company's Corporate Family Rating (CFR) to Caa1 from B3.
Moody's said The CFR considers Callon's success in managing through
the difficult market environment in 2020, but also the expectation
that it will not generate significant positive cash flow in 2021
while oil supply continues to exceed depressed demand levels,
leverage will remain high and its credit metrics will remain weak.


CANCER GENETICS: Inks Second Amendment to StemoniX Merger Agreement
-------------------------------------------------------------------
Cancer Genetics, Inc. entered into Amendment No. 2 to Agreement and
Plan of Merger and Reorganization with StemoniX, Inc. and CGI
Acquisition, Inc., a wholly owned subsidiary of the Company, which
amends the Agreement and Plan of Merger and Reorganization dated
Aug. 21, 2020, as previously amended on Feb. 8, 2021, whereby CGI
Acquisition will be merged with and into StemoniX, with StemoniX
surviving the merger as a wholly-owned subsidiary of the Company.
The Original Merger Agreement, prior to its amendment on Feb. 8,
2021, had conditions that included (A) that the Company shall have
consummated a financing transaction no later than the closing of
the Merger resulting in aggregate gross proceeds of $10 million (or
such other amount as the Company and StemoniX agree), which
condition was amended on Feb. 8, 2021 to only require that StemoniX
have sold an aggregate of $5 million of its Series C Preferred
Stock prior to the closing of the Merger, and (B) that the shares
of common stock of CGI (or Common Stock underlying other securities
of CGI) being issued in the Merger shall have been approved for
listing on the Nasdaq Stock Market.

As previously reported, on Feb. 16, 2021, CGI consummated a
registered direct offering of its common stock with certain
institutional investors pursuant to which the Company issued to the
investors an aggregate of 2,777,778 shares of the Company's common
stock at an offering price of $6.30 per share for gross proceeds of
approximately $17.5 million.  The net proceeds to the Company from
the CGI RD Financing were approximately $15.8 million, after
deducting placement agent fees and expenses and estimated offering
expenses payable by the Company.

CGI and StemoniX have confirmed in the Amendment that the CGI RD
Financing is to be treated as part of the "Private Placement" under
the Merger Agreement, such that any securities to be issued therein
will be deemed to be outside of, and not considered in computing
the number of securities of CGI to be issued with respect, to the
existing 78/22% ratio, and so will dilute the historic holders of
CGI and StemoniX securities ratably.  In addition, the cash raised
in the CGI RD Financing will not be included in either company's
Net Cash (as defined in the Merger Agreement) in determining any
adjustments required to such ratio.  The parties also agreed that
any condition of the Merger Agreement requiring either party to
raise additional cash prior to closing shall be deemed satisfied
other than if required to satisfy Nasdaq initial listing
requirements of the post-merger company, and that StemoniX will not
issue nor commit to issue any further securities without the
consent of CGI (other than under its option plan, upon conversion
of already outstanding convertible securities, or as otherwise
permitted under the Merger Agreement, including additional
Convertible Notes provided for in the Merger Agreement and the up
to $2 million of Series C Preferred Stock that is the subject of a
binding purchase agreement as of Feb. 26, 2021).

                         About Cancer Genetics

Through its vivoPharm subsidiary, the Cancer Genetics --
http://www.cancergenetics.com-- offers proprietary preclinical
test systems supporting drug discovery programs valued by the
pharmaceutical industry, biotechnology companies, and academic
research centers.  The Company is focused on precision and
translational medicine to drive drug discovery toward novel and
repurposed therapies.  vivoPharm specializes in conducting studies
tailored to guide drug development, starting from compound
libraries and ending with a comprehensive set of in vitro and in
vivo data and reports, which are needed for Investigational New
Drug filings. vivoPharm operates in the Association for Assessment
and Accreditation of Laboratory Animal Care International (AAALAC)
accredited and GLP compliant audited facilities.

Cancer Genetics reported a net loss of $6.71 million for the year
ended Dec. 31, 2019, compared to a net loss of $20.37 million for
the year ended Dec. 31, 2018.  As of Sept. 30, 2020, the Company
had $9.69 million in total assets, $4.88 million in total
liabilities, and $4.80 million in total stockholders' equity.

Marcum LLP, in Houston, Texas, the Company's auditor since 2019,
issued a "going concern" qualification in its report dated May 29,
2020, citing that the Company has minimal working capital, 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.


CARLA'S PASTA: Has Final OK on DIP Loan, Cash Collateral Access
---------------------------------------------------------------
Judge James J. Tancredi on March 2, 2021, reaffirmed an earlier
order authorizing Carla's Pasta, Inc. and Suri Realty, LLC, to use
cash collateral and obtain debtor-in-possession financing.

"After examining the Revised Budget submitted by the Debtor (ECF
No. 197), pursuant to statements made at the continued hearing held
March 1, 2021, the Court reaffirms its prior approval of the Final
Order Authorizing Cash Collateral and Debtors in Possession
Financing (ECF No. 189) as the Revised Budget reflects the updated
allocation of the professional fee carve-out, the residual concerns
of the Court related thereto have now been sufficiently addressed,"
Judge Tancredi said.

Carla's Pasta and Suri Realty previously sought and obtained
authority from the Bankruptcy Court for entry of an order
authorizing, among other things, the use of cash collateral through
March 3, 2021, and obtain postpetition financing.

On March 1, the Court entered its Final Order.

The Debtors asserted it is essential to a successful reorganization
and the going concern value of their businesses that they have
sufficient funds to operate in the ordinary course, and at a level
that is on par with their prepetition performance.

The Debtors obtained DIP financing from their existing lenders BMO
Harris Bank, N.A., and People's United Bank, National Association
up to an aggregate amount of $1,500,000, inclusive of an interim
amount not to exceed $750,000.

The DIP Loans and use of cash collateral allow the Debtors to cover
their necessary operating expenses, ensure continued normal
business operations of their food processing facility, to fund the
administration of the Chapter 11 Cases, and to preserve and enhance
the value of the Debtors' assets.

The cash collateral constitutes proceeds of accounts and revenues
from operations of the Facility in connection with the Chapter 11
Cases pledged to the Lenders.

As adequate protection for the Debtor's use of cash collateral, the
Debtors propose to provide the Lenders with liens in Replacement
Collateral, and swap payments under the Prepetition Credit
Documents, pursuant to the Approved Budget, subject only to the
Carve Out.

In the Debtors' Motion, the "Carve Out" means (a) the accrued and
unpaid fees and expenses of the Debtors' counsel (Locke Lord), the
Debtor's Financial Advisors and the CRO (Novo Advisors), any of the
Debtors' ordinary course professionals authorized by the Court, and
any professionals of an official committee in an aggregate amount
not to exceed $500,000.

No part of the Carve Out will be used to object to or contest any
of the Lenders' liens or postpetition obligations or to challenge
(as opposed to investigate) any prepetition liens, obligations, or
to otherwise seek affirmative relief against the Administrative
Agent or the Lenders.

The Revised Budget, submitted to the Court on March 1, provides for
a total of $914,500 in legal and professional fees for the 11-week
period through April 30, 2021. A prior version of the budget
allotted $861,750 for such fees.  A copy of the Revised Budget is
available at https://bit.ly/3e2n12S from Stretto.

The DIP Agreement imposes these sale milestones:

     March 2, 2021    Deadline to designate stalking horse
                      bidder(s)

     March 13, 2021   File notice of any stalking horse
                      asset purchase agreement

     April 12, 2021   Deadline to submit bids or counterbids
                      if a stalking horse selected; file any
                      objections to the sale motion

     April 15, 2021   Auction

     Week of
     April 19, 2021   Sale Hearing

     April 30, 2021   Deadline to close sale

                    About Carla's Pasta, Inc.

Carla's Pasta is a family-owned and operated business located in
South Windsor, Connecticut and manufactures high-quality food
products including pasta sheets, tortellini, ravioli, and steam bag
meals for branded and private label retail, foodservice
distributors, and restaurants.

Carla's Pasta, Inc. sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Conn. Case No. 21-50964) on February 8,
2021. In the petition signed by Carla Squatrito, chief executive
officer, the Debtor disclosed up to $50 million in assets and up to
$100 million in liabilities.

Locke Lord LLP represents the Debtors as counsel, while Novo
Advisors serves as financial advisor.

Counsel to lender BMO Harris Bank, N.A.:

     Mia D'Andrea, Esq.
     CHAPMAN AND CUTLER LLP
     111 West Monroe Street
     Chicago, IL 60603
     Tel: (312) 845-3766
     Fax: (312) 516-1466
     Email:dandrea@chapman.com

Counsel to lender People's United Bank, National Association:

     Scott D. Rosen, Esq.
     COHN BIRNBAUM & SHEA P.C.
     100 Pearl Street, 12th Floor
     Hartford, CT 06103
     Tel: (860) 493-2200
     Fax: (860) 727-0361
     Email: srosen@cbshealaw.com



CARLA'S PASTA: Seeks to Hire Cowen and Company as Investment Banker
-------------------------------------------------------------------
Carla's Pasta, Inc. and Suri Realty, LLC seek approval from the
U.S. Bankruptcy Court for the District of Connecticut to employ
Cowen and Company, LLC as their investment banker.

The firm's services will include:

     a. assisting the Debtors in analyzing their business,
operations, properties, financial condition and prospects;

     b. assisting the Debtors in their analysis and consideration
of financing alternatives available to the Debtors;

     c. assisting the Debtors in identifying and evaluating parties
that may be interested in a financing or sale;

     d. advising the Debtors on tactics and strategies for
negotiating with potential investors, potential parties to a sale,
and stakeholders, and if requested by the Debtors, participating in
such negotiations;

     e. assisting in preparing materials describing the Debtors
(based entirely on information supplied or approved by the Debtors)
for distribution and presentation to parties that might be
interested in a financing or sale;

     f. advising the Debtors on the timing, nature and terms of new
securities, other consideration or other inducements to be offered
pursuant to any sale;

     g. providing financial advice to the Debtors and participating
in meetings or negotiations with stakeholders, rating agencies and
other appropriate parties in connection with a sale;

     h. attending meetings of the Debtors' Board of Directors (or
similar governing entity) and committees;

     i. providing oral and written testimony; and

     j. other financial advisory and investment banking services.

The firm will be paid as follows:

     a. A non-refundable fee of $100,000 paid upon the execution of
the engagement letter.

     b. A non-refundable fee of $50,000 per month.

     c. A non-refundable fee payable at each closing of a financing
equal to the applicable percentage of the gross proceeds or
aggregate principal amount (as applicable) of any financing
irrevocably committed or funded in connection with such financing
(whether or not actually drawn).

        -- 1.5 percent for bank debt or first lien secured debt or
debtor-in-possession financing.

        -- 2.5 percent for debt junior to senior debt and is not an
equity-linked security.

        -- 5.0 percent for equity or equity-linked securities
(including, but not limited to, preferred securities and
convertible notes);

     d. A non-refundable fee payable upon consummation of any sale
equal to the sum of (i) $600,000, plus (ii) 2.5 percent of the
"aggregate consideration" equal to or greater than $25 million and
less than $30 million, plus (iii) 5 percent of the aggregate
consideration equal to or greater than $30 million and less than
$35 million, plus (iv) 7.5 percent of the aggregate consideration
equal to or greater than $35 million.  

      e. Subject to any applicable order of the court, Cowen shall
be entitled to reimbursement for its out-of-pocket expenses.

Kenneth Garnett, managing director at Cowen, disclosed in court
filings that the firm is "disinterested" within the meaning of
Section 101(14) of the Bankruptcy Code.

Cowen can be reached through:

     Kenneth A. Garnett
     Cowen and Company, LLC
     599 Lexington Avenue, 20th Floor
     New York, NY 10022
     Tel: 646 562 1010 / 646 562 1250
     Email: info@cowen.com

                About Carla's Pasta and Suri Realty

Carla's Pasta Inc. is a family-owned and operated business
headquartered in South Windsor, Conn.  It manufactures food
products including pasta sheets, tortellini, ravioli, and steam bag
meals for branded and private label retail, foodservice
distributors, and restaurant.  Founded in 1978 by Carla Squatrito,
Carla's Pasta's stock is held by members of the Squatrito family.

On Dec. 31, 2016, Carla's Pasta acquired 100% of Suri Realty, LLC's
membership interests.  Suri's business is limited to the ownership
of two adjoining parcels of real property located at 50 Talbot Lane
and 280 Nutmeg Road, South Windsor, Conn.

Carla's Pasta operates its business from an approximately
150,000-square-foot BRC+ certified production facility.

On Oct. 29, 2020, an involuntary petition for relief under Chapter
7 of the Bankruptcy Code was filed against Suri by Dennis Group, HJ
Norris, LLC, Renaissance Builders, Inc., and Elm Electrical, Inc.
On Dec. 17, 2020, the court approved Suri's request and converted
the involuntary Chapter 7 case to one under Chapter 11.

Carla's Pasta filed a Chapter 11 petition (Bankr. D. Conn. Case No.
21-20111) on Feb. 8, 2021.  It estimated assets of $10 million to
$50 million and liabilities of $50 million to $100 million.

The cases are jointly administered under Case No. 21-20111.

The Debtors tapped Locke Lord LLP as their counsel, Cowen & Co. as
investment banker and Novo Advisors, LLC as financial advisor.
Sandeep Gupta of Novo Advisors is the Debtors' chief restructuring
officer.


CASTEX ENERGY: Returns to Chapter 11 for Wind-Down
--------------------------------------------------
Castex Energy Partners, L.P., along with its affiliates, has
returned to Chapter 11 bankruptcy with an agreement in principle
with secured creditors on terms of a wind-down plan that would deal
with outstanding claims of creditors, as well as plugging and
abandonment obligations arising out of its oil and gas properties.

In March 2018, Castex emerged from its prior bankruptcy case after
confirming a plan that provided participants in a reserve-based
lending facility:

     (a) substantially all of the equity in holding Castex Energy
2005 Holdco, LLC, and

     (b) an exit reserve-based facility in a reduced amount as
compared to their prior indebtedness, and which was, and continues
to be, secured by liens and security interests in substantially all
of the assets of the Debtors.

The 2018 Plan has been fully consummated, and the terms thereof
fully implemented with one exception.  The 2018 Plan provided that
allowed general unsecured claims would receive their pro rata share
of $750,000 which amount was deposited into a separate account for
their benefit (the "GUC Fund").  All potential claims against that
fund have been resolved, with the exception of a claim by Apache
Corporation and the claim to any residual funds by Allowed Section
510(b) Claims.  After a July 2019 jury trial in Texas State
District Court, Apache was determined not to have a claim against
the Debtors or their successors, rather, judgment was entered
against Apache in favor of certain of the Debtors in the
approximate amount of $69.5 million.  However, Apache appealed that
judgment, which appeal remains pending as of the Petition Date.

                          Talos Sale

According to Douglas J. Brickley, the CRO of the Debtors, as with
many oil and gas companies, the sustained decline in commodity
prices in 2019 and 2020 substantially disrupted the Debtors'
business and negatively impacted their liquidity and cash flow.

After extensive marketing efforts by the Debtors and advisor
Intrepid Partners, in June 2020, Talos Energy, Inc., signed a deal
to acquire certain of the Debtors' offshore assets for a total
consideration of $65 million to be comprised of $6.5 million in
cash and $58.5 million in newly-issued Talos stock (equating to a
mix of 90% stock and 10% cash).  The Talos sale closed in August
2020.

Following the Talos Sale, the Debtors' primary assets consisted of
the Apache Judgment, the Talos Stock, and miscellaneous operated
and non-operated onshore Louisiana and Gulf of Mexico producing and
nonproducing oil and gas assets.

The Debtors presently have secured loan obligations of not less
than $199,585,956.  The secured parties have a lien and security
interest in the Apache Judgment.  In addition, the secured parties
had alien and security interest in the Debtors' oil and gas assets
that were conveyed in the Talos Sale, and, correspondingly, have a
lien and security interest on, among other things, the cash and
Talos Stock received in the sale.

The Debtors also owe more than $16 million to trade creditors and
other unsecured creditors.

                     Return to Chapter 11

Following the Talos Sale, the Debtors engaged Intrepid to explore
numerous potential options for either restructuring its business
around its remaining assets or selling its remaining oil and gas
assets.  Those efforts ultimately did not bear fruit due to, among
other reasons, issues related to the Debtors' unresolved
liabilities for plugging and abandonment, and related obligations
arising out of the oil and gas properties in question (the "P&A
Liabilities").  Ultimately, in the Debtors' view, the P&A
Liabilities became a material hindrance in the Debtors' efforts to
find an out-of-court solution.

In light of commodity prices, the Debtors have not been able to
generate sufficient cash from operations to satisfy their secured
loan obligations and various other obligations as they become due.


The Debtors have worked with Secured Parties to develop a plan for
winding down the Debtors' operations and addressing the clean-up
and decommissioning obligations associated with the oil and gas
interests owned by the Debtors.  While the Debtors continue to
explore sale options, the Debtors' declining cash position and
inability to fully service its Secured Loan Obligations made it
necessary for the Debtors to seek protection under the Bankruptcy
Code.

Prior to filing the recent Chapter 11 cases, the Debtors reached an
agreement with the Secured Parties for use of cash collateral in a
bankruptcy on terms and pursuant to a budget that provides the
Debtors an opportunity to complete a plan that can address the
Debtors' remaining assets and liabilities, including the plugging
and abandonment obligations.

The Debtors have also reached an agreement in principle with the
Secured Parties on the financial structure of a plan to be pursued
in the new Chapter 11 cases.

The exact details of such a plan are still undetermined and will
require significant negotiations with various stakeholders,
including state and federal agencies.  Further, although the
Debtors have an agreement in principle with the Secured Parties,
the parties do not have a binding restructuring support agreement
for the proposed plan structure.

As set out in the proposed Interim Order granting use of cash
collateral, the Debtors only have 10 days from the Petition Date to
complete a plan and file it with the Court.

The Plan Term Sheet signed Feb. 26, 2021, by the parties provides
for these terms:

   * On the Effective Date, or as soon thereafter as reasonably
practicable, each holder of an Allowed General Unsecured Claims
will receive, in full and final satisfaction of such Allowed
General Unsecured Claim, its Pro Rata Share of right to
distributions from the GUC Entity remaining once all Allowed
Statutory P&A Obligations entitled to payment have been satisfied;
provided, General Unsecured Claims will not include any deficiency
claim of holders of Secured Debt Claims, which such deficiency
claim will be waived.

   * On the Effective Date, Existing Interests will be canceled,
released, and extinguished and will be of no further force or
effect, whether surrendered for cancellation or otherwise, and each
holder of an Existing Interest will receive no recovery on account
of their Equity Interests.

   * The Chapter 11 Plan shall provide for the appointment of a
trustee, plan administrator or other representative (the
"Representative") to, among other things, engage in the operation,
plugging and abandonment, and decommissioning of the Debtors' oil
and gas interests (other than those for which title is
relinquished, abandoned, and/or otherwise transferred to a
non-Debtor prior to the termination of the GUC Entity), resolve
claims, make distributions, and otherwise administer the remaining
assets of the Debtors and implement the terms and provisions of the
Plan.

   * The GUC Entity assets shall consist of (i) all equity
interests owned in CEP, including CEP's ownership of all issued and
outstanding equity in COI, (ii) $1,750,000 in cash (the "GUC Entity
Cash") which shall be funded first, from the Debtors' cash or other
working capital, or if cash is not available to fully fund the GUC
Entity Cash, then from the contribution or sale of Talos Shares
(that do not constitute Escrow Shares), (iii) all contract rights
under the Escrow Agreement (as defined in the Talos PSA) (the
"Escrowed Shares"); provided, to the extent the value of the
Escrowed Shares at the time of release from escrow in accordance
with the Escrow Agreement exceeds $9,000,000, any such shares or
proceeds thereof in amount over $9,000,000 will be remitted to
Lender Newco in accordance with the above (the "Excess Escrowed
Shares"); (iv) chapter 5 avoidance actions, causes of action
against CEI and/or its affiliates and other causes of action (other
than the Apache Claims and any claims released pursuant to the
releases included in the Plan); and (v) the residual interest the
Debtors have, if any, in the $750,000 escrow funds that were set
aside in connection with the confirmation of the plan of
reorganization in the prior Castex chapter 11 cases.

                       About Castex Energy

Castex Energy Partners, L.P., and its affiliates are engaged in the
exploration, development, production and acquisition of oil and
natural gas properties located in the Gulf of Mexico, state waters
of Louisiana, onshore Louisiana, and onshore Texas.  

Castex owns interests in approximately 182 oil, gas, and related
wells, and have estimated proven reserves of 2.3 MMBO (oil and gas
condensate) and 4 BCFE (natural gas).  It is also a party to
numerous joint operating agreements, joint development agreements,
exploration agreements, and area of mutual interest agreements, and
own interests in certain fee lands.

Castex Energy Partners, L.P., along with 5 affiliates, sought
Chapter 11 protection (Bankr. S.D. Tex. Lead Case No. 17-35835) in
Houston, on Oct. 16, 2017, after reaching terms with lenders of a
restructuring plan that would convert debt into equity.  The Plan,
which granted 100% of the equity to holders of RBL secured claims
totaling $400 million, was confirmed Feb. 28, 2018, and Castex
emerged from bankruptcy in March 2018.

On Feb. 26, 2021, Castex Energy Partners, LLC, along with three
affiliates, including Castex Offshore, Inc., returned to Chapter 11
bankruptcy.  The lead case is In re Castex Energy 2005 Holdco, LLC
(Bankr. S.D. Tex. Case No. 21-30710).

Castex Energy Partners estimated assets and debt of $100 million to
$500 million as of the bankruptcy filing.

The Hon. David R. Jones oversees the present case.

In the prior case, the Debtors tapped Kelly Hart & Pitre, as
counsel; Paul Hastings LLP, as special counsel; and Alvarez &
Marsal North America, LLC, as restructuring advisor.

In the recent case, the Debtors tapped OKIN ADAMS LLP as general
bankruptcy counsel; and THE CLARO GROUP, LLC, as financial advisor.
THOMPSON & KNIGHT LLP is the special counsel & conflicts counsel.
DONLIN, RECANO & COMPANY, INC., is the claims agent.


CHENIERE ENERGY: Fitch Alters Outlook on 'BB' IDR to Positive
-------------------------------------------------------------
Fitch Ratings has affirmed Cheniere Energy Partners, L.P.'s (CQP)
'BB' Long-Term Issuer Default Rating (IDR) and the senior unsecured
rating of 'BB'/'RR4'. Additionally, the Rating Outlook was revised
to Positive from Stable. At the same time, Fitch has assigned a
'BB'/'RR4' to the senior unsecured notes, due 2031.

The Outlook revision reflects the Positive Outlook at Sabine Pass
Liquification (SPL; BBB-/Positive) and the expectation of
significant FCF after SPL's unlevered Train 6 achieves substantial
completion in 2H22, leading to a reduction in leverage. Total
consolidated leverage (measured as total debt with operating
credit-to-operating EBITDA) at Dec. 31, 2020 was 6.6x, above the
positive sensitivity of 6.0x. While Fitch projects that leverage
will approach the positive sensitivity of 6.0x by 2023, a key
trigger for an Upgrade, the implementation of management's
financial policy will dictate the pace of debt reduction.

Management announced capital allocation priorities with plans to
both reduce overall company leverage and initiate a dividend at
parent Cheniere Energy Inc (CEI). These factors were significant
drivers of SPL's Outlook revision to Positive. While the SPL
ratings does not entirely determine the Cheniere Partners rating,
Sabine Pass is the primary revenue generator for parent Cheniere
Partners. These companies have a two-notch difference due to the
potential for cash traps at the project level, limiting upstream
cash to Cheniere Partners. The difference in the two ratings may
move to one notch as Fitch gains comfort that a distribution block
is unlikely due to increased project cash flow or lower project
level debt.

Cheniere Partners's rating reflects the stable cash flows provided
by long-term sale and purchase agreements (SPA) at SPL with
investment-grade counterparties that effectively pass through fixed
and variable expenses, and declining project completion risk for
the Train 6 project expansion. These factors are offset by the lack
of a planned redundant tank at Sabine and the structural
subordination of CQP's debt to significant project-level debt at
SPL.

KEY RATING DRIVERS

Long-Term Contracted Cash Flows: Fitch believes the contract
structure insulates cash flows from demand trends in the global
liquified natural gas (LNG) market by effectively passing through
natural gas costs, while retaining a minimum upside from the
fixed-capacity payments, resulting in adequate coverage of both
Sabine Pass' and Cheniere Partners's debt obligations. Sabine Pass'
revenues and cash flows from customers are backed by long-term SPAs
with investment-grade counterparties. Each SPA provides revenue
from a fixed- capacity fee that is paid regardless of LNG volumes
lifted and a commodity-based, variable fee on LNG volumes
delivered, equal to 115% of current Henry Hub prices.

In 2020, for the first time, Sabine Pass' long-term customers
exercised a provision under the SPAs to cancel delivery of LNG
cargoes. The severe drop in economic activity during the
coronavirus pandemic reduced demand and depressed natural gas
prices globally, while the high LNG storage levels in Europe,
following a warm 2019/2020 winter, decreased the need for new
injections. Through Dec. 31, 2020, Cheniere Partners's volumes were
down 17% YTD and there were fewer merchant cargo loadings compared
with 2019. Lifting rebounded strongly towards the end of 2020 as
cold weather returned to major markets. Regardless of these
cancellation, Sabine Pass received fixed-capacity payments under
the SPAs for Trains 1-5 of about $2.9 billion.

High-Quality Counterparties: Sabine Pass' counterparties for the
long-term SPAs all have investment grade profiles, which comprise
BG Energy Capital plc, fully owned by Royal Dutch Shell, plc
(AA-/Stable); Naturgy Energy Group, S.A. (BBB/Stable); Korea Gas
Corporation (AA-/Stable); GAIL (India) Ltd. (BBB-/Negative), Total
SE (AA-/Stable) and Centrica plc. Sabine Pass LNG LP's (SPLNG)
counterparties for its external tolling use agreement (TUA), Shell
and Total, are also investment grade.

Concerns relate to the presence of some 'BBB' rated customers,
namely Naturgy and GAIL, under a low-likelihood/high-severity
scenario of customer nonpayment. The Sabine Pass project debt
indenture contains a cash trap provision preventing cash
distributions to Cheniere Partners if forward-looking debt service
coverage ratios (DSCRs) are less than 1.25x. The most likely way to
trigger a cash trap is nonpayment from a long-term customer during
low spot prices, as these two tend to correlate. Currently, this
risk of nonpayment is remote, but it does factor into the rating.

Lower Marketing Revenues During Coronavirus: Excess capacity not
lifted by the long-term off-takers can be marketed to uncontracted
customers on a short-term basis through a contract with Cheniere
Marketing. Throughout Sabine Pass' history, earnings have seen
upside from these merchant LNG sales but vary based on market
demand, global production capacity and weather. In 2020, this
segment performed better than Fitch expected given the global
headwinds impacting the sector. The capacity available to sell into
the merchant market in 2020 was down due to cancelled cargoes from
long-term customers, and Cheniere Marketing's revenues were about
10% of total revenues in 2020 (down from approximately 20%
historically).

Fitch will include CMI revenues in the rating case, based on the
resilience seen during 2020 and higher volumes available to CMI in
Trains 1-5. A material amount of these revenues was excluded from
previous forecasts. Following the completion of debottlenecking
projects, Cheniere Partners's ultimate parent, CEI, signaled a
shift in its guidance, increasing production for its liquification
trains to 4.9 and 5.1 million tonnes per annum (MTPA) from between
4.7 and 5.0 MPTA. The increased production capacity will, in
Fitch's opinion, increase Cheniere Partners's revenues from CMI.
Fitch believes these short-to-medium-term contracts provide
additional, but more volatile revenues.

Structural Subordination: Cheniere Partners is structurally
subordinate to $13.7 billion in Sabine Pass nonrecourse project
debt used to fund the construction and development of Trains 1-5.
Project debt covenants restrict distributions to Cheniere Partners,
subject to coverage tests. Significant project debt maturities
occur every year.

Refinancing of SPL project debt requires full amortization of
principal within the SPA term and will reduce cash available for
distributions to Cheniere Partners over the long term. As a result,
the company plans to migrate portions of project debt to Cheniere
Partners and its parent, focusing on alleviating the structure
subordination of Cheniere Partners debt to Sabine Pass project
debt. Fitch believes management's capital allocation priorities may
impact the cadence of the planned optimization of the capital
structure.

Steady Cash Flow from Guarantors: Creole Trail Pipeline (CTPL) and
SPLNG are unlevered guarantors of Cheniere Partners's debt and, in
Fitch's opinion, provide predictable cash flow directly to Cheniere
Partners. SPLNG owns two marine berths for loading and unloading
LNG onto tankers with regasification and storage capacity. Under
the TUA, SPLNG receives $250 million from Sabine Pass annually to
use its berths and regasification, with payments that started in
2009, increasing as trains come on stream and ramp up cargo loading
operations. SPLNG also receives $125 million per year for 20 years,
from both Total and Chevron Corporation, for use of the
regasification capacity for LNG imports. CTPL receives
approximately $80 million per year from Sabine Pass under its firm
capacity reservation contract.

Revenues to CTPL and SPLNG received under the reservation contracts
and the TUA from Sabine Pass are operating expenses, senior to
project level debt service, and not subject to distribution
covenants and double leverage. The revenues (about 15% of the
total) are not generated from the liquefaction facility, bolstering
Cheniere Partners's credit profile.

Structural Complexity: Fitch believes the structural complexity can
create competing incentives for cash use. Cheniere Partners, on a
consolidated basis, is engaged in a number of related-party
transactions and contracts with other entities in the CEI corporate
structure in addition to the TUAs and contracts between Sabine
Pass, CTPL and SPLNG. The ratings consider that Cheniere Partners
is structured as a bankruptcy-remote entity from Sabine Pass. While
there are weak legal ties between the obligations of Cheniere
Partners and the project subsidiary Sabine Pass, operational
linkages are much stronger, as Sabine Pass could not operate
without use of SPLNG's storage, regasification and loading
facilities.

Lower Execution Risk: Cheniere Partners has a strong record of
construction management and operations of the stations. Five of the
six trains are complete and operating. Train 6 is under
construction, ahead of schedule and within budget. The engineering,
procurement and construction contractor, Bechtel Oil, Gas &
Chemicals, Inc. has a turn-key, lump-sum basis and bears all cost
overrun risk. Bechtel is subject to liquidated damages if
construction is not completed by the guaranteed dates. Completion
risk is moderating, as 77.6% of Train 6 construction is complete as
of December 2020, and management anticipates early completion, with
a service date in 2H22.

Financial Policy Paces Leverage Reduction: Fitch believes through
debt paydown and EBITDA growth, consolidated leverage will approach
the 6.0x positive leverage sensitivity, after Train 6 is
operational and seasoned. However, management's financial policy to
lower consolidated leverage at CEI to a mid-to-high 4x while
initiating a dividend may slow deleveraging at Cheniere Partners.
Train 6 currently has less contracted capacity than the existing
Trains 1-5, with only 1.8 million tons per annum of capacity
currently contracted to Train 6. CEI announced it will assign a SPA
for the remaining open capacity from an investment-grade
counterparty by Train 6's completion. Cheniere Marketing currently
has two assignable long-term contracts with investment-grade
counterparties for Train 6. Fitch believes the potential for these
contracts to be delivered ex-ship would expose Cheniere Partners to
shipping cost risk not present under the free on-board contract
structure currently in place.

DERIVATION SUMMARY

Cheniere Partners is a master limited partnership with an LNG
import-export facility and a Federal Energy Regulatory Commission
regulated interstate natural gas pipeline operating subsidiary,
Creole Trail Pipeline LP. Consolidated operations are supported by
long-term, take-or-pay style contracts for import, export and
pipeline capacity. The ratings reflect cash flow growth and
stability, supported by pass-through of fixed and variable costs of
LNG to contractually obligated off-takers. The ratings consider a
high degree of structural subordination to project-level debt,
declining project completion risk, investment-grade counterparties
and structural complexity.

Cheniere Partners's contract tenor, earnings and stable cash flow
profile compares favorably with midstream energy peers, such as
Boardwalk Pipeline Partners LP (BBB-/Positive), which has
subsidiaries with very low leverage, while debt at its operating
companies pose no threat of a cash trap. In contrast, Sabine Pass
is highly levered, and in a combined and severe downside case of
payment default by a large customer and weak merchant price
forecast realizations, cash could be trapped.

Fitch notes Sabine Pass' contracts are of much more substantial
duration than any of its midstream peers, in addition to its
primarily fee-based revenue. On this basis, Fitch considers
Cheniere Partners's business risk profile to be similar to a
company with full take-or-pay contracts. Sabine Pass' current
contracts on Trains 1-5 have between 17 to 20 years remaining,
providing a significant amount of revenue and earnings from Sabine
Pass. The contract profile is with investment-grade
counterparties.

Consolidated leverage levels are high for Cheniere Partners,
relative to Fitch's rated midstream coverage, with 2019
consolidated total debt with operating credit to operating EBITDA
of 7.1x, declining to 6.6x in 2020 under the rating case versus
Fitch's expectations of leverage for 'BB' midstream issuers in the
5.0x to 5.5x range.

Fitch believes the growth of Cheniere Partners's operating profile,
its demonstrated ability to manage construction and completion
risks at liquefaction projects, and cash flow stability provided by
long-term capacity contracts are meaningful offsets to high
consolidated leverage. Cash flows are primarily derived from
operations at Sabine Pass and the ratings consider the structural
subordination Cheniere Partners's debt has to Sabine's high levels
of project level financing.

KEY ASSUMPTIONS

Fitch's key assumptions within its rating case for the issuer
include:

-- Fitch's price deck for natural gas; long-term natural-gas
    price at Henry Hub of $2.45/MMBtu;

-- Construction of Train 6 at SPL completes on schedule,
    consistent with management expectations and the most recent
    construction updates;

-- TUA Payments to SPLNG from third parties remain stable until
    contract expiration in 2029;

-- Train 6 assumes only revenues from assigned contracts and
    contracts will be assigned at the start of operations;

-- CMI revenues are assumed in the rating case;

-- Upstream distributions to CQP remain stable.

RATING SENSITIVITIES

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

-- Consolidated total debt with operating credit to operating
    EBITDA below 6x on a sustained basis, which would allow the
    company to receive a rating closer to Sabine Pass' rating,
    although still likely notched below Sabine Pass' rating;

-- Positive rating action at Sabine Pass.

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

-- Any construction or operating delays at Sabine Pass beyond the
    original construction completion of first-half 2023 that delay
    or deteriorate cash flows or increase leverage;

-- New debt at SPLNG or CTPL;

-- Negative ratings actions at Sabine Pass;

-- A multi-notch downgrade or financial distress of any SPA
    counterparty;

-- Consolidated total debt with operating credit to operating
    EBITDA above 7x expected on a sustained basis.

BEST/WORST CASE RATING SCENARIO

International scale credit ratings of Non-Financial Corporate
issuers have a best-case rating upgrade scenario (defined as the
99th percentile of rating transitions, measured in a positive
direction) of three notches over a three-year rating horizon; and a
worst-case rating downgrade scenario (defined as the 99th
percentile of rating transitions, measured in a negative direction)
of four notches over three years. The complete span of best- and
worst-case scenario credit ratings for all rating categories ranges
from 'AAA' to 'D'. Best- and worst-case scenario credit ratings are
based on historical performance.

LIQUIDITY AND DEBT STRUCTURE

Liquidity is adequate. As of Dec. 31, 2020, consolidated CQP's
consolidated liquidity was approximately $2.8 billion, including
$1.2 billion unrestricted cash. SPL maintains a revolving credit
facility which is primarily used for gas procurement. The revolver
matures in 2025 and had $787 million available for borrowing as of
Dec. 31, 2020. CQP has its own $750 million revolver that is
currently unutilized and matures in 2024. Management stated that
the remaining construction expenditures are expected to be funded
through cash on hand and free cash flow.

In addition, CQP and its subsidiaries have large cash accounts,
with amounts held at SPL considered restricted totaling $97 million
as of Dec. 31, 2020. These amounts are available to CQP as long as
DSCR is equal to or greater than 1.25x in the next 12 months and
the previous 12 months.

Fitch anticipates that distributions to CQP will not be restricted
by the distribution test and will increase as Train 6 comes online.
While this cash is held at a non-recourse entity and can be
withheld for a variety of reasons, Fitch continues to believe that
CQP's liquidity remains sufficient to meet its needs and will not
be limited by the distribution test.

Maturities Manageable but Steady: CQP's and SPL's near-term
maturities are manageable. The secured revolver is CQP's earliest
maturity in 2024. Proceeds of this transaction will refund the CQP
note maturing in 2025, extending the maturity to 2031.

SPL's maturity profile is a bit more aggressively laddered, with
SPL having between $1.0 billion and $2.0 billion project level debt
maturing annually from 2022 through 2028 with $1 billion due in
March 2022. Management indicated it expects to refinance these
maturing obligations with a combination of project level debt,
amortizing debt, CQP unsecured notes and cash repayments.
Management's financial policy is focused on maintaining an
investment-grade profile at SPL, migrating a proportion of project
level debt to other levels within the CEI family and debt
reduction. Management's leverage target is 5.0x consolidated
leverage considering the entire CEI corporate structure.

SUMMARY OF FINANCIAL ADJUSTMENTS

Restricted Cash accounts on the balance sheet on a historical basis
were adjusted to show cash available at guarantor subsidiaries.

ESG CONSIDERATIONS

Cheniere Energy Partners, L.P. has a relevance Score of '4' for
Group Structure and Financial Transparency as it possesses a
complex group structure, with significant related party
transactions and ownership concentration. This has a negative
impact on the credit profile and is relevant to the rating in
conjunction with other factors.

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


CHENIERE ENERGY: Moody's Gives Ba2 Rating on $1BB Unsecured Notes
-----------------------------------------------------------------
Moody's Investors Service assigned a Ba2 rating to Cheniere Energy
Partners, L.P's (CQP) $1.0 billion senior unsecured note offering.
The outlook for CQP is stable.

Proceeds from the offering will be used to refinance and retire a
like amount of CQP's 5.25% senior unsecured notes due 2025. The
unsecured notes will rank pari passu with CQP's existing unsecured
notes also rated Ba2 stable. Moody's expect CQP's debt profile to
remain at $4.1 billion upon closing of the proposed bond offering.
A $750 million senior secured revolving credit facility, currently
undrawn, provides CQP liquidity support for construction costs and
general corporate purposes.

RATINGS RATIONALE

The Ba2 rating assigned to CQP's senior unsecured notes reflects
the predictability and recurring nature of anticipated long-dated
cash flows derived under existing contractual arrangements from its
two unencumbered wholly-owned operating subsidiaries Cheniere
Creole Trail Pipeline, L.P (CTPL: not rated) and Sabine Pass LNG,
L.P. (SPLNG: not rated), and distributions from its most
significant subsidiary, Sabine Pass Liquefaction LLC (SPL: Baa3,
stable). Cash flow and distributions from these operating
subsidiaries represent CQP's primary source of cash flow.

These positive credit features are balanced by CQP's structurally
subordinated position to SPL's $13.7 billion of funded debt, the
ongoing distribution requirements of CQP's equity ownership and a
highly leveraged capital structure that is forecasted to remain in
excess of 6.0x on a consolidated Debt to Contracted EBITDA basis
through at least 2023.

SPL is a six train liquified natural gas facility located in
Cameron Parish, Louisiana, on the coast of the Gulf of Mexico.
Trains 1-5 have achieved commercial operation with the majority of
the aggregate capacity contracted to investment grade
counterparties. Contracted fixed payments from these counterparties
for Trains 1-5 total approximately $2.9 billion annually and
provide for annual recurring EBITDA in excess of $1.8 billion.
Train 6 remains under construction with substantial completion
anticipated in the second half of 2022. Contractual cash flows
associated with Train 6 will strengthen SPL's overall cash flow
profile. Distributions from SPL to CQP totaled $1 billion in 2020.

CQP's business model has remained resilient in light of several
external factors, including the outbreak of COVID-19, multiple
hurricanes making landfall near its infrastructure and most
recently, a winter storm that affected much of the Gulf Coast, all
of which did not have a material financial impact on CQP.

RATING OUTLOOK

CQP's stable outlook reflects the heavy reliance on distributions
from SPL along with consistent cash flow from CTPL and SPLNG, which
together will enable CQP meets its funding requirements including
debt service, remaining Train 6 construction costs and ongoing
distributions to its owners.

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

Factors that could lead to an upgrade

Given CQP's level of reliance on SPL cash flow, a rating change at
SPL would likely trigger a similar change at CQP. SPL's rating
could be upgraded if there is a significant and sustained reduction
in outstanding debt or improvement in cash flow generation such
that its ratio of project cash from operations to debt exceeds 15%
on an ongoing basis. Moody's calculate this ratio at 10% for 2020.

Factors that could lead to a downgrade

Given CQP's level of reliance on SPL cash flow, a rating change at
SPL would likely trigger a similar change at CQP. SPL's rating
could be downgraded or the outlook revised to negative should it
encounter major operating problems or not generate the expected
level of cash flow to fund remaining construction costs or
operating costs.

CQP is a publicly traded master limited partnership that owns and
operates CTPL, a 94 mile long 42 inch diameter pipeline that
provides natural gas supply transportation to SPL; SPLNG, a
regasification terminal that has been operating since 2008; and
SPL, a six liquefaction train development with trains in various
stages of construction and operation.

The principal methodology used in this rating was Midstream Energy
published in December 2018.


CMC II LLC: Case Summary & 30 Top Unsecured Creditors
-----------------------------------------------------
Lead Debtor: CMC II, LLC
             800 Concourse Parkway South
             Maitland, FL 32751

Business Description: The Debtors manage and operate skilled
                      nursing facilities, providing a variety of
                      services to mostly elderly residents that
                      include short-term rehabilitation,
                      comprehensive post-acute care, long-term
                      care, and physical, occupational, and
                      speech therapies.  Debtor CMC II provides
                      management and support services to
                      approximately 140 SNFs, each of which is
                      operated by an affiliate of the Debtors
                      under the common ownership of non-Debtor
                      LaVie Care Centers, LLC, doing business as
                      Consulate Health Care.

Chapter 11 Petition Date: March 1, 2021

Court:                United States Bankruptcy Court
                      District of Delaware

Six affiliates that concurrently filed voluntary petitions for
relief under Chapter 11 of the Bankruptcy Code:

     Debtor                                   Case No.
     ------                                   --------
     CMC II, LLC (Lead Case)                  21-10461
     Salus Rehabilitation, LLC                21-10460
     207 Marshall Drive Operations LLC        21-10462
     803 Oak Street Operations LLC            21-10463
     Sea Crest Health Care Management, LLC    21-10464
     Consulate Management Company, LLC        21-10465

Judge:                Hon. John T. Dorsey

Debtors' Counsel:     William E. Chipman, Jr., Esq.
                      Robert A. Weber, Esq.
                      Mark L. Desgrosseilliers, Esq.
                      Mark D. Olivere, Esq.
                      CHIPMAN BROWN CICERO & COLE , LLP
                      Hercules Plaza
                      1313 North Market Street, Suite 5400
                      Wilmington, Delaware 19801
                      Tel: (302) 295-0191
                      Fax: (302) 295-0199
                      Email: chipman@chipmanbrown.com
                             weber@chipmanbrown.com
                             desgross@chipmanbrown.com
                             olivere@chipmanbrown.com


Debtors'
Restructuring
Advisor:              ALVAREZ & MARSAL NORTH AMERICA, LLC

Debtors'
Broker:               EVANS SENIOR INVESTMENTS

Debtors'
Claims &
Noticing
Agent and
Administrative
Advisor:              BANKRUPTCY MANAGEMENT SOLUTIONS, INC.
                      DBA STRETTO
                      https://cases.stretto.com/CMC/court-docket/

CMC II's
Estimated Assets: $100 million to $500 million

CMC II's
Estimated Liabilities: $100 million to $500 million

The petitions were signed by Pau Rundell, chief restructuring
officer.

A copy of CMC II's petition is available for free at
PacerMonitor.com at:

https://www.pacermonitor.com/view/FRNHDHA/CMC_II_LLC__debke-21-10461__0001.0.pdf?mcid=tGE4TAMA

Consolidated List of Debtors' 30 Largest Unsecured Creditors:

   Entity                          Nature of Claim    Claim Amount
   ------                          ---------------    ------------
1. Angela Ruckh,                  The United States   Undetermined
As Relator for the United        of America and the
States of America                 State of Florida
c/o Kellogg Hansen Todd Fiegl &  Ex. Rel. Angela Ruckh
Frederick, PLLC                   v. CMC II, LLC
1615 M St NW Ste 400
Washington, DC 20036
Derek Ho, Silvija Strikis,
James Webster III &
Joseph Hall
Tel: 202-326-7900
Email: dho@kellogghansen.com;
sstrikis@kellogghansen.com;
jwebster@kellogghansen.com;
jhall@kellogghansen.com

2. Genesis Rehabilitation Svcs      Note Payable &     $56,861,044
Lockbox# 821322                     Trade Payable
Rt. 38 & East Gate Drive
Moorestown, NJ 08057
Michael Sherman
Senior Vice President,
General Counsel
Tel: 610-444-6350
Fax: 610-925-4000

3. Healthcare Services Group        Note Payable &     $19,468,795
3220 Tilman Drive Suite #300        Trade Payable
Bensalem, PA 19020
Jason Bundick, Esq.
Tel: 800-363-4274
Email: info@hcsgcorp.com

4. Omnicare Inc.                    Note Payable &     $10,702,350
Dept# 781668                        Trade Payable
4 PO Box 78000
Detroit, MI 48278-1668
Alexander M. Kayne
EVP General Counsel
Tel: 513-719-2600

5. Trident                           Note Payable       $2,511,785
6400 Pinecrest Dr., Suite 100
Plano, TX 75024
Tom McCaffery
General Counsel
Tel: 800-786-8015

6. William C. Akers, Jr.              Settlement          $650,000
Individually & as Administrator       Agreement
of Estate of Elewease Akers
c/o Marks, Balette, Giessel
& Young, PLLC
7521 Westview
Houston, TX 77055
Attn: Jacques Balette, Esq.
Tel: 713-681-3070
Fax: 713-861-2811

7. Bryan Fike                         Settlement          $600,000
as PR Of the Estate of Robert Fike    Agreement
c/o Parvey & Frankel
Attn: Allan Parvey, Esq. &
Carlos Cavenago, III, Esq.
2069 First Street
Ste 100
Fort Myers, FL 33993
Allan Parvey, Esq. &
Carlos Cavenago, III, Esq.
Tel: 239-334-0300
Fax: 239-334-0992
Email: Allan@parveyfrankel.com &
Carlos@parveyfrankel.com

8. Medline Industries Inc.          Trade Payable         $555,834
500 Ross St
Room 154-0460
Attn 382075
Pittsburgh, PA 15262
Jimmy Abrams, COO
Tel: 800-633-5463
Fax: 847-837-2765
Email: finance@medline.com

9. Ruth Ann Dugan By and Through     Settlement           $470,000
Rosemarie Caseman, Attorney-in-Fact  Agreement
c/o Wilkes & McHugh - Tampa
One North Dale Mabry Hwy
Ste 800
Tampa, FL 33609
Tel: 800-255-5070
Fax: 813-286-8820

10. Sandra Masters                   Settlement           $425,000
c/o Wilkes & McHugh - Tampa          Agreement
One North Dale Mabry Hwy
Ste 800
Tampa, FL 33609
Tel: 800-255-5070
Fax: 813-286-8820

11. James Edward Foster              Settlement           $420,000
c/o Wilkes & McHugh - Tampa          Agreement
One North Dale Mabry Hwy
Ste 800
Tampa, FL 33609
Tel: 800-255-5070
Fax: 813-286-8820

12. Estate of Bedie Finley           Settlement           $410,000
By and Through Ann Pate              Agreement
Personal Representative
c/o Wilkes & McHugh - Tampa
One North Dale Mabry Hwy
Ste 800
Tampa, FL 33609
Tel: 800-255-5070
Fax: 813-286-8820

13. Estate of Porter Wiley Sr.       Settlement           $400,000
By and Through Lillie                Agreement
Wiley, Personal Representative
c/o Mendes, Reins & Wilander +
Wilkes & McHugh
4401 W. Kennedy Blvd.
Suite 250
Tampa, FL 33609
Mendes, Reins & Wilander;
Wilkes & McHugh
Phone: 813-535-5053; 800-255-5070
Fax: 813-694-7368; 813-286-8820

14. Estate of Audrey G.              Settlement           $382,500
Parker By and Through Gary           Agreement
Parker, Personal Representative
c/o Wilkes & McHugh - Tampa
One North Dale Mabry Hwy
Ste 800
Tampa, FL 33609
Tel: 800-255-5070
Fax: 813-286-8820

15. Estate of Georgia Roselee        Settlement           $365,000
Wren By and Through                  Agreement
Fayeran L. Norman, Personal
Representative
c/o Wilkes & McHugh - Tampa
One North Dale Mabry Hwy
Ste 800
Tampa, FL 33609
Tel: 800-255-5070
Fax: 813-286-8820

16. Sharon Miller as                 Settlement           $350,000
Admin of Estate of                   Agreement
Sutterphine Miller
c/o Williams, Newman, Williams
Attn: R. Paul Williams, III, Esq.
P.O. Box 23785
Jackson, MS 39225
R. Paul Williams, III, Esq.
Tel: 601-228-6722
Fax: 601-949-3358

17. Dorothy Fleming                  Settlement           $335,000
By and Through Cynthia Myers,        Agreement
Attorney-in-Fact
c/o Wilkes & McHugh - Tampa
One North Dale Mabry Hwy
Ste 800
Tampa, FL 33609
Tel: 800-255-5070
Fax: 813-286-8820

18. Estate of Sheila Baldree         Settlement           $300,000
By and Through Douglas Stalley, PR   Agreement
c/o Wilkes & McHugh - Tampa
18 One North Dale Mabry Hwy
Ste 800
Tampa, FL 33609
Tel: 800-255-5070
Fax: 813-286-8820

19. Gary D. Bass                     Settlement           $275,000
c/o Wilkes & McHugh - Tampa          Agreement
One North Dale Mabry Hwy
Ste 800
Tampa, FL 33609
Tel: 800-255-5070
Fax: 813-286-8820

20. Estate of Waver Nash             Settlement           $270,000
By and Through Sadie Jane            Agreement
Bellemy, PR
c/o Wilkes & McHugh
One North Dale Mabry Hwy
Ste 800
Tampa, FL 33609
Tel: 800-255-5070
Fax: 813-286-8821

21. Estate of Dorothy Mendola        Settlement           $270,000
c/o Wilkes & McHugh - Tampa          Agreement
One North Dale Mabry Hwy
Ste 800
Tampa, FL 33609
Tel: 800-255-5070
Fax: 813-286-8820

22. Mary Jewell For                  Settlement           $265,000
William Jewell, Deceased             Agreement
c/o Wilkes & McHugh - Tampa
One North Dale Mabry Hwy
Ste 800
Tampa, FL 33609
Tel: 800-255-5070
Fax: 813-286-8820

23. Bertha Owsley,                   Settlement           $250,000
As Executrix of the Estate of        Agreement
Manis Owsley
c/o Morgan & Morgan
Attn: Tyler Koch, Esq.
333 West Vine Street, Ste 1200
Lexington, KY 40507
Attn: Tyler Koch, Esq.
Tel: 859-219-4529
Email: tforsythe@forthepeople.com

24. Estate of Frances Pauline        Settlement           $250,000
Harper by Judy Ann Silence, PR       Agreement
c/o McHugh Fuller Law Group
Attn: Lance Reins, Esq.
97 Elias Whiddon Road
Hattisburg, MS 39402
Lance Reins, Esq.
Tel: 601-261-2220
Fax: 601-261-2481
Email: lance@mrwlawgroup.com

25. Richard John Brown               Settlement           $240,000
c/o Wilkes & McHugh - Tampa          Agreement
One North Dale Mabry Hwy
Ste 800
Tampa, FL 33609
Tel: 800-255-5070
Fax: 813-286-8820

26. Microsoft Corporation          Trade Payable          $235,747
1950 N Stemmons Fwy
Ste 5010
Dallas, TX 75207
Dev Stahlkopf
Tel: 425-882-8080
Fax: 425-936-7329

27. Modcomp Inc.                   Trade Payable          $230,981
CSPI Technology Solutions
1182 East Newport Center Drive
Deerfield Beach, FL 3344
Alexander R. Lupinetti
Tel: 954-571-4600
Email: hello@cspi.com

28. Estate of Annie Ruth Hurley      Settlement           $230,000
By and Through the PR,               Agreement
Barbara Hurley
c/o Farah & Farah
Attn: Laurence C. Huttman, Esq.
10 West Adams St
3rd Floor
Jacksonville, FL 32202
Laurence C. Huttman, Esq.
Tel: 904-549-6434
Email: Lhuttman@farahandfarah.com

29. Robert A. Lee                    Settlement           $225,000
By and Through Robert E. Lee,        Agreement
Attorney In Fact
c/o Wilkes & McHugh - Tampa
One North Dale Mabry Hwy
Ste 800
Tampa, FL 33609
Tel: 800-255-5070
Fax: 813-286-8820

30. Mary Holt                        Settlement          $225,000
By and Through Teresa Margraf, AS    Agreement
Personal Representative of the Estate
c/o Distasio Law Firm
Attn: Scott Distasio, Esq.
1112 Channelside Drive
Ste 5
Tampa, FL 33602
Scott Distasio, Esq.
Tel: 813-259-0022
Fax: 813-259-0033
Email: info@distasiofirm.com


CMG CAPITAL: Case Summary & 3 Unsecured Creditors
-------------------------------------------------
Debtor: CMG Capital, LLC
        28 W. Flagler St., Ste. 700
        Miami, FL 33130

Chapter 11 Petition Date: February 27, 2021

Court: United States Bankruptcy Court
       Southern District of Florida

Case No.: 21-12013

Judge: Hon. Jay A. Cristol

Debtor's Counsel: Nathan G. Mancuso, Esq.
                  MANCUSO LAW, P.A.
                  7777 Glades Rd., Suite 100
                  Boca Raton, FL 33434
                  Tel: 561-245-4705
                  E-mail: ngm@mancuso-law.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Steven Suh, member.

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

https://www.pacermonitor.com/view/A54UGIQ/CMG_Capital_LLC__flsbke-21-12013__0001.0.pdf?mcid=tGE4TAMA


COUNTRY FRESH: U.S. Trustee Appoints Creditors' Committee
---------------------------------------------------------
The U.S. Trustee for Region 7 appointed an official committee to
represent unsecured creditors in the Chapter 11 cases of Country
Fresh Holding Company and its affiliates.

The committee members are:

     1. Integrity Express Logistics
        4420 Copper Road
        Cincinnati, OH 45242
        Attn: Jennifer Riley
        Tel: 937-235-4462
        E-mail: jriley@intxlog.com

     2. Cenveo Worldwide Limited
        200 First Stamford Place, 2nd Floor
        Stamford, CT 06902
        Attn: Todd Harvey
        Tel: 812-981-4854
        E-mail: todd.harvey@cenveo.com

     3. First Step Staffing Philadelphia, LLC
        1952 E. Alleghany Ave., Suite 500
        Philadelphia, PA 19134
        Attn: Matt Miller
        Tel: 404-984-6134
        E-mail: matt@firststaffing.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 Country Fresh Holding Company

Country Fresh Holding Company, Inc., through its subsidiaries,
provides fresh-cut fruits and vegetables, snacking products, and
home meal replacement solutions.  It serves customers in the United
States and Canada.

Country Fresh Holding Company and its affiliates sought Chapter 11
protection (Bankr. S.D. Texas Lead Case No. 21-30574) on Feb. 15,
2021.  At the time of the filing, Country Fresh Holding Company
disclosed under $1 million in both assets and liabilities.

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

The Debtors tapped Folye & Lardner, LLP as their counsel and Ankura
Consulting Group as their restructuring advisor.  Epiq Corporate
Restructuring is the claims agent.

The Ad Hoc Group of Lenders is represented by Paul, Weiss, Rifkind,
Wharton & Garrison, LLP and Porter Hedges, LLP.

Norton Rose Fulbright US LLP is counsel to the Prepetition Agents
and Cortland Capital Market Services LLC, the DIP Agent.


COVIA HOLDINGS: Moody's Assigns First Time B3 Corp Family Rating
----------------------------------------------------------------
Moody's Investors Service assigned a first-time B3 Corporate Family
Rating and B3-PD Probability of Default Rating to Covia Holdings
LLC, the leading provider of industrial minerals and frac sand in
North America. In addition, Moody's assigned a B3 rating to the
company's senior secured term loan credit facility maturing in
2026. The outlook is stable.

"Covia's B3 rating reflects its high leverage and the competitive
nature of its frac sand business" said Emile El Nems, Moody's Vice
President. "The company's leverage metrics should improve during
2021."

Assignments:

Issuer: Covia Holdings LLC

Corporate Family Rating, Assigned B3

Probability of Default Rating, Assigned B3-PD

Gtd. Senior Secured 1st Lien Term Loan B, Assigned B3 (LGD4)

Outlook Actions:

Issuer: Covia Holdings LLC

Outlook, Assigned Stable

RATINGS RATIONALE

Covia's B3 CFR reflects the company's high leverage and the
competitive nature of its frac sand business. At the same time,
Moody's takes into consideration Covia's strong market position as
the leading provider of industrial minerals and frac sand in North
America, adequate liquidity profile, and the company's improved
segment mix and capital structure post emergence from bankruptcy.
Through the bankruptcy process Covia was able to reduce its gross
debt by 50% and eliminate more than $300 million in operating
leases improving its debt and interest expense burden from
previously unsustainable levels. In addition, the rating reflects
Moody's expectation that the company will benefit from sequential
improvement in economic and business activity. At year end 2021,
Moody's projects Covia's total debt-to-EBITDA (inclusive of Moody's
adjustments) will be 6.5x. Governance risks considered for Covia
include the company's evolving financial policy and board
representation. This is partially mitigated by Covia's focus on
execution, reinvestment in the business, and commitment towards
debt reduction.

The stable outlook reflects Moody's expectation that Covia will
steadily grow revenue organically, improve profitability, and
improve its credit metrics. This is largely driven by Moody's views
that the long term fundamentals of the US economy will improve
sequentially and be supportive of the company's underlying growth
drivers.

Moody's expects Covia to maintain an adequate liquidity profile
over the next 12-18 months. As of December 31, 2020, Covia's
liquidity position is supported by approximately $102 million of
cash, and $80 million in availability under the company's $135
million asset based revolving credit facility (unrated) expiring in
2025.

The senior secured term loan credit facility is rated B3, on par
with the company's CFR since it accounts for the preponderance of
debt in the capital structure. The term loan is secured by a first
priority lien on substantially all of the assets of the borrower
and guarantors. The senior secured term loan facility is governed
by a financial covenant requiring the maintenance of at least $50
million in liquidity in any combination of cash and / or
availability under the ABL.

In addition, the documents governing the company's senior secured
term loan gives Covia the ability to incur additional debt as long
as the company's net debt-to-EBITDA (net leverage) does not exceed
4.0x or 4.75x (after incurrence) depending on the type of debt
being issued. Furthermore, the company can incur acquisition
indebtedness provided that the acquisition does not raise Covia's
net leverage. Separately, in the event of sale of assets, Covia can
either (i) reinvest the proceeds back into the business within a
certain time frame or (ii) use the funds to repay indebtedness.
However, the company is able to keep $10 million per year of
proceeds as cash. Any portion of the $10 million not used in one
year carries over cumulatively to the following year with a maximum
of $20 million.

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

The ratings could be upgraded if:

- Adjusted Debt-to-EBITDA is below 5.5x for a sustained period of
time

- EBIT-to-interest Expense is above 2.0x for a sustained period of
time

- The company improves its free cash flow and liquidity profile

The rating could be downgraded if:

- The company fails to reduce Adjusted Debt-to-EBITDA from current
levels

- EBIT-to-interest Expense is below 1.0x for a sustained period of
time

- The company's liquidity profile deteriorates

The principal methodology used in these ratings was Building
Materials published in May 2019.

Based in Independence, Ohio, Covia Holdings LLC is a leading
provider of specialty sands and minerals serving the industrial and
energy end markets. The company has approximately 26 million tons
of annual active processing capacity with 16 million in industrial
sand and 10 million in frac sand. In June 2020, two years after
Unimin Corporation and Fairmount Santrol, Inc. combined in a cash
and stock transaction to create Covia, the company filed for
chapter 11. Covia emerged out of bankruptcy on December 31, 2020.

Covia is currently organized into two segments: (1) the industrial
products segment, which accounts for approximately 75% of total
revenue and serves industrial end markets (foundry, automotive,
glass making, filtration industries, etc.) and (2) energy, which
serves the oil & gas E&P industry. Covia's top two shareholders are
Angel Island / Golden Gate Capital and Anchorage.


CPI CARD: Moody's Upgrades CFR to B3 Amid Solid Positioning
-----------------------------------------------------------
Moody's Investors Service upgraded CPI Card Group Inc.'s Corporate
Family Rating to B3 from Caa1 and Probability of Default Rating to
B3-PD from Caa1-PD. Concurrently, Moody's assigned a B3 to the new
secured notes of CPI CG, INC. (the debt-issuing subsidiary of CPI)
in connection with the company's proposed refinancing. Moody's also
upgraded the Speculative Grade Liquidity Rating to SGL-2 from
SGL-3. The outlook is stable.

Net proceeds from the proposed new senior secured notes, along with
a portion of a new ABL revolving credit facility (unrated) and
about $36 million of cash from CPI's balance sheet, will be used to
repay the company's existing super-senior first lien term loan and
first lien term loan. The existing ratings on CPI CG, INC.'s debt
instruments will be withdrawn upon full repayment.

The upgrade reflects the transaction addressing the upcoming
maturities which had weighed heavily on CPI's credit profile and
also Moody's expectations of strengthening credit metrics from
revenues and earnings improvement over the next 12 to 18 months as
a result of continued card volume growth and improving product
mix.

Upgrades:

Issuer: CPI Card Group Inc.

Probability of Default Rating, Upgraded to B3-PD from Caa1-PD

Speculative Grade Liquidity Rating, Upgraded to SGL-2 from SGL-3

Corporate Family Rating, Upgraded to B3 from Caa1

Assignments:

Issuer: CPI CG INC.

Senior Secured Regular Bond/Debenture, Assigned B3 (LGD4)

Outlook Actions:

Issuer: CPI Card Group Inc.

Outlook, Remains Stable

Issuer: CPI CG INC.

Outlook, Remains Stable

RATINGS RATIONALE

CPI's B3 CFR reflects the company's solid positioning in the U.S.
as a provider of financial payment cards and services to small,
medium and large sized financial institutions and Moody's
expectations of continued credit metric improvement over the next
two years from margin expansion driven by low single digit sales
growth and operating leverage. Pro forma for the refinancing,
debt-to-EBITDA is 5.7x (Moody's adjusted for the LTM period
December 31, 2020), which Moody's expects will decline to the low
5x range over the next 12 to 18 months driven by earnings growth
and debt repayment. Nonetheless, the credit profile is constrained
by CPI's pricing leverage from its larger customers, as well as
high product and customer concentration. The company's modest size
also impacts the rating.

The stable outlook reflects Moody's expectation of operating
performance improvement driven by continued card volume growth and
the conversion of dual-interface cards which have higher average
selling prices. The combination of profit growth and debt repayment
will reduce adjusted leverage to the low 5x range over the next
12-18 months.

The SGL-2 reflects Moody's expectation that CPI's liquidity will be
good over the next 12 to 18 months supported by expectation of
moderately positive free cash flow and available cash. The company
is expected to have a $50 million ABL revolver facility (unrated),
with $15 million outstanding and approximately $21 million of cash.
Moody's expects CPI to repay the full outstanding amount over the
next year. The ABL will be subject to customary covenants and
Moody's expect CPI to have considerable cushion.

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

The ratings could be upgraded if CPI were to generate steady
revenue growth of at least mid-single digits percent with EBITDA
margins in the low-twenty percent range, with consistent positive
free cash flow and good liquidity. A ratings upgrade would require
debt-to-EBITDA to be maintained at about 4x. CPI's ratings could be
downgraded if the company experiences material market share loss,
deteriorating gross margins, weakening liquidity, or leverage
sustained above 6x.

As a manufacturer of plastic payment cards, CPI has to be in
compliance with various environmental laws and regulations related
to air and water pollution, waste disposal and soil and ground
water contamination. CPI has been and is expected to remain in
compliance with current regulations. Corporate governance
considerations for CPI include its majority private equity
ownership (60% is owned by funds affiliated with Parallel49 PE
firm), history of operating under very high financial leverage, and
adherence to public company disclosure practices.

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

CPI Card Group Inc. is a provider in payment card production and
related services, offering a single source for credit, debit and
prepaid debit cards including EMV chip, personalization, instant
issuance, fulfillment and mobile payment services. The company
generated revenues of approximately $312 million in the fiscal year
ended December 31, 2020.


DEGROFF RX: Can Use Cash Collateral Until April 24
--------------------------------------------------
Judge James J. Tancredi of the U.S. Bankruptcy Court for the
District of Connecticut authorized DeGroff RX, LLC to use cash
collateral from February 28, 2021 to April 24, 2021.

These entities assert an interest in the cash collateral as of the
Petition Date:

     -- Webster Bank, National Association, alleges a first and
second priority secured claims against all of the Debtor's assets,
including the Debtor's cash and accounts receivable;

     -- Burlington Drug Company, Inc., alleges a third priority
secured claim against all of the Debtor's assets, including the
Debtor's cash and accounts receivable; and

     -- John R. Loveland and Erin A. Loveland allege a fourth
priority secured claim against all of the Debtor's assets,
including the Debtor's cash and accounts receivable.

"It is essential to the Debtor's business and operations, and the
preservation of the value of its assets, that it obtain a
preliminary order authorizing it to use cash receipts to pay
business expenses necessary to avoid irreparable harm to the
estate. Without the use of its cash collateral, the Debtor will
suffer irreparable harm and the value of its assets will greatly
diminish or be destroyed," Judge Tancredi found.

In exchange for the preliminary use of cash collateral by the
Debtor, and as adequate protection for WB, Burlington and Loveland
's interests therein, WB, Burlington and Loveland were each granted
replacement and/or substitute liens, subject only to the carve-out,
in all post-petition assets of the Debtor and proceeds thereof,
excluding any bankruptcy avoidance causes of action, and such
replacement liens will have the same validity, extent, and priority
that WB, Burlington and Loveland possessed as to said liens on the
Petition Date.

The liens of WB, Burlington and Loveland and any replacement
thereof, and any priority to which WB, Burlington and Loveland may
be entitled or become entitled under Section 507(b) of the
Bankruptcy Code, will be subject and subordinate to a carve-out of
such liens for amounts payable by the Debtor for (i) fees of the
United States trustee under Section 1930(a)(6) of Title 28 of the
United States Code; (ii) wages due the Debtor's employees and (iii)
court approved fees of the Debtor's professionals up to an
aggregate amount of $40,000, provided that any carve-out for the
Debtor's professional and subchapter V Trustee fees will not
include professional fees, disbursements, costs or expenses
incurred in connection with asserting any claims or causes of
action against WB or challenging or raising any defense to the
validity, extent, priority, perfection or enforceability of WB's
liens and security interests prior to the Petition Date.

The Debtor was directed to make monthly payments of $20,000 to WB
while the Court's Order is in effect, as additional adequate
protection for the use of cash collateral.

The approved Budget provided for total expenses in the amount of
$182,474.

A hearing on the Debtor's Motion for Authority for Use of Cash
Collateral is scheduled for April 23, 2021 at 11 a.m.  The deadline
for the filing of objections to the Debtor's Motion is April 16,
2021 at 5 p.m.

A full-text copy of the Sixth Order Authorizing Use of Cash
Collateral and Providing Adequate Protections, dated February 25,
2021, is available for free at https://tinyurl.com/5etxhdp8 from
PacerMonitor.com

                         About DeGroff RX

DeGroff RX, LLC, a long-term care pharmacy in New Britain, Conn.,
sought protection under Chapter 11 of the Bankruptcy Code (Bankr.
D. Conn. Case No. 20-21162) on Sept. 28, 2020.  Todd DeGroff,
member, signed the petition.  At the time of the filing, Debtor had
total assets of $443,999 and liabilities of $6,483,521.  Judge
James J. Tancredi oversees the case.  Zeides, Needle & Cooper, P.C.
is the Debtor's legal counsel.


DENARDO CAPITAL: Seeks to Hire Kirby Aisner as Legal Counsel
------------------------------------------------------------
DeNardo Capital Management LLC and DeNardo Captial II LLC seek
approval from the U.S. Bankruptcy Court for the Southern District
of New York to hire Kirby Aisner & Curley LLP, as their legal
counsel.

The firm will provide these services:

     a. advise Debtor of its powers and duties in the continued
management of its property and affairs;

     b. negotiate with creditors in the preparation of a plan of
reorganization and take the necessary legal steps in order to
effectuate the plan;

     c. prepare legal papers;

     d. appear before the bankruptcy court and represent the Debtor
in all matters pending before the court;

     e. attend meetings and negotiate with representatives of
creditors;

     f. advise the Debtor in connection with any potential sale of
its business;

     g. represent the Debtor in connection with obtaining
post-petition financing, if necessary;

     h. take any necessary action to obtain approval of a
disclosure statement and confirmation of a plan of reorganization;
and

     i. perform all other legal services for the Debtor in
connection with its Chapter 11 case.

Kirby Aisner will be paid at these rates:

         Attorneys                $295 to $525 per hour
         Paraprofessionals            $150 per hour

Kirby Aisner will also be reimbursed for out-of-pocket expenses
incurred.

The firm received a pre-bankruptcy retainer in the amount of
$28,476, which represents a legal fee retainer of $25,000 and the
Chapter 11 filing fee for each entity.

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

Kirby Aisner can be reached at:

     Dawn Kirby, Esq.
     Kirby Aisner & Curley LLP
     700 Post Road, Suite 237
     Scarsdale, NY 10583
     Tel: (914) 401-9500
     Email: dkirby@kacllp.com

                    About DeNardo Capital

DeNardo Capital II LLC owns a residential development project
located in Irvington, N.Y.  DeNardo Capital Management LLC is its
sole member.

DeNardo Capital Management LLC and affiliate DeNardo Capital II LLC
sought Chapter 11 protection (Bankr. S.D.N.Y. Lead Case Nos.
21-22098) on Feb. 16, 2021.  DCM estimated at least $10 million in
assets and liabilities as of the bankruptcy filing.

Kirby Aisner & Curley LLP, led by Dawn Kirby, Esq., serves as
counsel to the Debtors.


EAGLE HOSPITALITY: Bank of America Seeks Case Dismissal
-------------------------------------------------------
Vivienne Tay of The Business Times reports that the Bank of America
(BOA) has filed a motion to dismiss the Chapter 11 cases of Eagle
Hospitality Real Estate Investment Trust (EH-Reit) and Eagle
Hospitality Trust (EHT) Singapore entities Eagle Hospitality Trust
S1 and Eagle Hospitality Trust S2.

BOA is the administrative agent of EH-Reit's US$341 million (S$454
million) prepetition syndicated credit agreement, the trustee of
EHT said on Tuesday (March 1, 2021) in a bourse filing.

BOA's move comes as the US bankruptcy court approves a US$100
million debtor-in-possession (DIP) term loan facility with Monarch
Alternative Capital.

The court approval allows entities of EHT which have filed for
Chapter 11 bankruptcy in the US, including EH-Reit, to borrow up to
US$100 million for use under an approved budget. This amount can be
increased up to US$125 million under certain conditions.

EHT's trustee said the proceeds will be used for working capital
needs such as funding critical operating expenses, as well as
general corporate and other purposes, including funding the costs
of the Chapter 11 cases.

This is to facilitate any restructuring of the Chapter 11 entities
- including EH-Reit and the EHT Singapore entities, as well as
provide sufficient time for any value-maximising strategies or
propositions.

If BOA succeeds in dismissing the bankruptcy protection cases of
EH-Reit and the EHT Singapore entities, EH-Reit and the Singapore
entities will not be able to access the DIP financing facility.

The hearing for BOA's motion has been scheduled for April 2021 at
10 a.m., New York time. Objections are due by March 22, 2021 at 4
p.m. in the same time zone.

EHT's trustee said on Tuesday that it has instructed Moelis &
Company -- the financial adviser of the Chapter 11 entities -- to
commence a sale process for 15 EHT properties.

These properties, together with Delta Woodbridge (DW), Hilton
Houston Galleria Area (HHG) and Crowne Plaza Dallas Near
Galleria-Addison, are all the properties in EHT's portfolio owned
by certain Chapter 11 entities.

EHT's Reit trustee is exploring all options available in respect of
DW and HHG and their respective mortgage loans.

The lender of the HHG mortgage loan had filed a foreclosure notice
and sent a notice of a foreclosure sale for HHG to be held on
Tuesday, in response to HHG's master lessor's default in payment of
the debt secured by HHG.

Wells Fargo, the lender of the DW mortgage loan, filed a complaint
to seek an order for the foreclosure and possession of DW, among
others. It also filed an application for the appointment of a rent
receiver to take charge and manage DW, as well as collect and
receive rent.

Meanwhile, Crowne Plaza Dallas Near Galleria-Addison will be put up
for auction in early April 2021.

EHT is a hospitality stapled group comprising EH-Reit and Eagle
Hospitality Business Trust (EH-BT).

The stapled group lost its manager last year following a directive
from the Monetary Authority of Singapore to remove the incumbent
manager Eagle Hospitality Reit Management.  A proposal to appoint a
new manager failed to get the necessary support from stapled
security holders at an extraordinary general meeting on Dec 30,
2020.

                   About Eagle Hospitality Group

Eagle Hospitality Trust -- https://eagleht.com/ -- is a hospitality
stapled group comprising Eagle Hospitality Real Estate Investment
Trust and Eagle Hospitality Business Trust. Based in Singapore,
Eagle H-REIT is established with the principal investment strategy
of investing on a long-term basis in a diversified portfolio of
income-producing real estate, which is used primarily for
hospitality or hospitality-related purposes as well as real
estate-related assets in connection with the foregoing, with an
initial focus on the United States.

EHT US1, Inc. and 26 affiliates, including 15 LLC entities that
each owns hotels in the U.S., sought Chapter 11 protection (Bankr.
D. Del. Lead Case No. 21-10036) on Jan. 18, 2021. EHT US1 estimated
$500 million to $1 billion in assets and liabilities as of the
bankruptcy filing.

The Debtors tapped Paul Hastings LLP and Cole Schotz P.C. as their
bankruptcy counsel, FTI Consulting Inc. as restructuring advisor,
and Moelis & Company LLC as investment banker.  Rajah & Tann
Singapore LLP and Walkers serve as Singapore Law counsel and Cayman
Law counsel, respectively.  Donlin, Recano & Company, Inc. is the
claims agent.

The U.S. Trustee for Regions 3 and 9 appointed an official
committee of unsecured creditors in the Debtors' Chapter 11 cases
on Feb. 4, 2021. The committee is represented by Morris James, LLP
and Kramer Levin Naftalis & Frankel, LLP.


EASTMAN KODAK: Gets Fresh Funds from Kennedy Lewis to Rework Debt
-----------------------------------------------------------------
Eastman Kodak Company (NYSE:KODK) on March 1, 2021, announced a
series of financial transactions that provide access to new
capital, address maturing obligations, and strengthen the Company's
ability to invest in strategic growth opportunities in print,
advanced materials and chemicals.  The transactions reflect
investors' confidence in Jim Continenza’s leadership and the
Company’s strategy and technologies, placing Kodak in its best
financial position in years.

Kennedy Lewis Investment Management LLC has provided Kodak with an
initial $225 million term loan and a commitment to provide
delayed-draw term loans of up to an additional $50 million which
may be drawn on or before February 26, 2023.  The term loans have a
five-year maturity and are non-amortizing.  Additionally, Kennedy
Lewis has purchased one million shares of the Company's common
stock at a purchase price of $10 per share, as well as $25 million
of the Company's newly issued 5.00% unsecured convertible
promissory notes due May 28, 2026.  As part of the agreement,
Kennedy Lewis will have the right (subject to certain conditions),
for three years or until they hold less than 50% of the initial
principal amount of the term loans, to nominate one person to be
elected to the Company’s board of directors.

"Kodak has made tremendous strides over the last few years under
Jim Continenza's leadership.  We are pleased to support the Company
in its continued efforts to fortify its balance sheet and provide
the capital assistance needed to enable Kodak to pivot forward to
pursue its strategic growth initiatives.  We feel strongly that the
Company is well positioned for the future," said Darren L. Richman,
co-founder of Kennedy Lewis.

Grand Oaks Capital, an investment firm founded by businessman and
Paychex founder Tom Golisano, has committed to invest a total of
$100 million in the Company.  The firm purchased $75 million of
Kodak's 5.0% Series C Convertible Preferred Stock and has agreed to
purchase an additional $25 million of this series of preferred
stock subject to HSR Act clearance. As part of the agreement, Grand
Oaks Capital will have the right (subject to certain conditions),
for three years or until they hold less than 50% of the initial
amount of the preferred shares or common stock into which it is
converted, to nominate one person to be elected to the Company's
board of directors.

"Grand Oaks Capital is excited about the long-term future of
Kodak," said Tom Golisano of Grand Oaks Capital.  "We are very
confident in the Company’s leadership, vision and new growth
opportunities and are proud to be investing in a global company
headquartered in Rochester, New York."

With the proceeds from these transactions, Kodak repurchased one
million shares of the Company's 5.50% Series A Convertible
Preferred Stock due to mature on November 15, 2021, from funds
managed by Southeastern Asset Management for $100 million plus
accrued and unpaid dividends. In addition, Kodak has issued the
Southeastern-managed funds one million shares of Series B Preferred
Stock in exchange for the remaining Series A Preferred Stock held
by the funds, plus payment of accrued and unpaid dividends.

"Since Jim Continenza and his team took over at Kodak, there have
been dramatic improvements in operating costs and the balance
sheet, as well as new product introductions.  Jim's team has also
opened up the possibility of new business lines which would build
on legacy assets and institutional strengths," said G. Staley
Cates, CFA, vice-chairman of Southeastern Asset Management.

Kodak also entered into a cash collateralized Letter of Credit
Facility Agreement for up to $50 million and amended its ABL Credit
Agreement to extend the maturity date to February 26, 2024 and
decrease the aggregate commitments from $110 million to $90
million.

These transactions together provide the Company with up to $310
million of incremental cash to invest in growth opportunities in
Kodak's core businesses of print and advanced materials and
chemicals.  Furthermore, the transactions address the mandatory
redemption of the Series A Preferred Stock that was required in
November 2021, extend the maturity date of the Company’s ABL, and
limit the amount of cash needed to service capital.

"Over the past two years, we have taken a number of significant
steps to strengthen our financial position," said Jim Continenza,
Kodak's executive chairman and CEO.  "Financing secured through
Kennedy Lewis and investments made by Grand Oaks Capital and funds
managed by Southeastern Asset Management represent the next step in
our strategy for returning the Company to growth and help position
us to invest in expanding our core businesses in print and advanced
materials and chemicals."

Details about these transactions can be found in Kodak's Form 8-K
filing with the U.S. Securities and Exchange Commission.

                      About Eastman Kodak

Eastman Kodak Company (NYSE:KODK) is a global technology company
focused on print and advanced materials & chemicals. We provide
industry-leading hardware, software, consumables and services
primarily to customers in commercial print, packaging, publishing,
manufacturing and entertainment. We are committed to environmental
stewardship and ongoing leadership in developing sustainable
solutions. Our broad portfolio of superior products, responsive
support and world-class R&D make Kodak solutions a smart investment
for customers looking to improve their profitability and drive
growth

Kodak, founded in 1880 by George Eastman, was once the world's
leading producer of film and cameras.

Rochester, New York-based Eastman Kodak Company and its U.S.
subsidiaries on Jan. 19, 2012, filed voluntarily Chapter 11
petitions (Bankr. S.D.N.Y. Lead Case No. 12-10202) in Manhattan.

In the Chapter 11 case, attorneys at Sullivan & Cromwell LLP and
Young Conaway Stargatt & Taylor, LLP, served as counsel to the
Debtors.  FTI Consulting, Inc., was the restructuring advisor; and
Lazard Freres & Co. LLC, the investment banker to Kodak.  The
Official Committee of Unsecured Creditors tapped Milbank, Tweed,
Hadley & McCloy LLP, as its bankruptcy counsel.  Akin Gump Strauss
Hauer & Feld LLP, represented the Unofficial Second Lien
Noteholders Committee.  

                          *    *    *

Kodak completed the $527 million sale of its digital-imaging
technology portfolio on Feb. 1, 2013.

U.S. Bankruptcy Judge Allan Gropper confirmed the plan on August
20, 2013. Kodak and its affiliated debtors officially emerged from
bankruptcy protection on Sept. 3, 2013.  Eastman Kodak emerged from
Chapter 11 bankruptcy protection, with plans to continue as a
smaller digital imaging company. The new Kodak will focus on
commercial products such as high-speed digital printing technology
and printing on flexible packaging for consumer goods.


EDGEWELL PERSONAL: Moody's Rates New $500M Unsecured Notes 'Ba3'
----------------------------------------------------------------
Moody's Investors Service assigned a Ba3 rating to Edgewell
Personal Care Co.'s new $500 million senior unsecured 8-year notes
due 2029. At the same time Moody's affirmed Edgewell's Ba3
Corporate Family Rating, its Ba3-PD Probability of Default Rating
and its existing Ba3 unsecured debt rating. Moody's upgraded the
company's Speculative Grade Liquidity Rating to SGL-1 from SGL-3.
Proceeds from the new offering will be used to refinance the
existing $500 million Senior Notes due May 2022. The Ba3 rating on
the 2022 notes is not affected and will be withdrawn once the bonds
are redeemed. The offering is credit positive because it extends
the maturity profile, reduces cash interest expense, while
financial leverage is unaffected. There are no near term debt
maturities. The rating outlook is stable.

The Speculative Grade Liquidity Rating upgrade to SGL-1 reflects
Moody's expectation that Edgewell will maintain very good liquidity
over the next 12 months following the refinancing of the
approaching 2022 note maturity. Liquidity is supported by the
company's cash balance of $280.8 million at December 31, 2020,
Moody's expectation of good free cash flow of about $150 million
per annum, full availability under the company's $425 million
revolving credit facility expiring in 2025, and good room under
financial covenants.

The affirmation of the ratings reflects Moody's belief that
relatively high financial leverage will continue to improve over
the next 12 months. Leverage is somewhat elevated at 4.5x
debt-to-EBITDA for the twelve months ended December 31, 2020.
Higher than expected leverage reflects declining sales in certain
categories related to wet shave and sun care due to reduced
consumption. Reduced consumption is due to headwinds related to the
coronavirus. Moody's believes that the global wet-shave category
will continue to face challenges reflecting declining trends in
men's shaving, as well as intense competitive pressures from
Edgewell's large and diversified peers. The entry of new startup
brands will also heighten competition in the segment amid flat to
declining global sales. That said, Moody's estimates that debt to
EBITDA will approach 4.0x over the next 12 months as the effects of
the coronavirus subsides and as the sizable cash and free cash flow
is deployed for acquisitions that will increase earnings.
Edgewell's sizable free cash flow-to-debt of about 10% provides
flexibility to invest in products with better growth prospects.

Ratings Upgraded:

Issuer: Edgewell Personal Care Co.

Speculative Grade Liquidity Rating, Upgraded to SGL-1 from SGL-3

New Assignments:

Issuer: Edgewell Personal Care Co.

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

Ratings Affirmed:

Issuer: Edgewell Personal Care Co.

LT Corporate Family Rating, Affirmed Ba3

Probability of Default Rating, Affirmed Ba3-PD

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

Outlook Actions:

Issuer: Edgewell Personal Care Co.

Outlook, Remains Stable

RATINGS RATIONALE

Edgewell's Ba3 CFR reflects the company's challenging industry
operating environment. Edgewell will continue to face intense
competition from much larger, well diversified competitors in its
wet shave, skin care and feminine care businesses. This will lead
to weak earnings growth and debt to EBITDA sustained around
3.7-4.0x over the next 12 months. The rating also reflects the
company's concentration in mature, highly-promotional categories
that present a strategic growth challenge. Moody's believes that
the company will continue to utilize cash and debt to fund
acquisitions to spur growth and share buy backs. Moody's expects
Edgewell's financial strategy to maintain debt-to-EBITDA leverage
within a 3.0-3.5x range (based on the company's calculation) will
help sustain solid free cash flow. The rating is supported by the
company's portfolio of well-known consumer product brands including
Schick, Playtex, and Banana Boat. The company also generates good
free cash flow.

In terms of Environmental, Social and Governance (ESG)
considerations, the most important factor for Edgewell's ratings
are governance considerations related to its financial policies and
environmental risk. Moody's views Edgewell's financial policies as
balanced given its appetite for debt financed acquisitions is
partially mitigated by a moderate leverage target. Edgewell faces
environmental risk from the disposal and recycling of razors, as
well as the resin and packaging related to its wet shave products.
Social factors relating to shifts in consumer preferences toward
greater comfort with facial hair is negatively affecting demand for
shaving products.

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 Moody's 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.

Edgewell reported relatively flat organic sales in the first
quarter ended December 31, 2020 with continued strong growth in
wipes reflecting consumer focus on hygiene because of the
coronavirus. Moody's expects demand for products such as wet shave
and sun care to improve gradually over the next 12 months as the
pandemic recedes. However, Moody's anticipates any revenue pressure
will be modest and that free cash flow will remain positive
including the dividend.

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

The stable outlook reflects Moody's expectation that Edgewell will
continue to generate flat to negative organic growth in its wet
shave category. The stable outlook also reflects the rating
agency's expectation that earnings growth and cash utilized for
acquisitions will reduce debt-to-EBITDA to 4.0x or lower over the
next year, and that Edgewell will continue to generate solid free
cash flow and maintain very good liquidity.

A downgrade could occur if Edgewell fails to stabilize operating
performance, or if liquidity deteriorates. Moody's could also
downgrade the company if debt to EBITDA is sustained above 4.0x.
Other factors that could contribute to a downgrade include debt
financed acquisitions or share repurchases.

Edgewell's ratings could be upgraded if the company improves its
scale and diversification, and it sustains solid organic revenue
growth with a stable to higher EBITDA margin. An upgrade would also
require improved credit metrics such that Moody's expects
debt/EBITDA to be sustained below 3.0x.

The principal methodology used in these ratings was Consumer
Packaged Goods Methodology published in February 2020.

Edgewell Personal Care Co., based in Shelton, CT manufactures,
markets and distributes branded personal care products in the wet
shave, skin and sun care, feminine care, and infant care
categories. The company has a portfolio of over 25 brands and a
global footprint in over 50 countries. Edgewell is publicly traded
and generates annual revenue of about $1.9 billion.


EVERGREEN MORTGAGE: Hires Keller Williams as Real Estate Broker
---------------------------------------------------------------
Evergreen Mortgage Notes, LLC seeks approval from the U.S.
Bankruptcy Court for the Middle District of Florida to hire Keller
Williams Palmetto as its real estate broker.

The Debtor requires the services of a real estate broker to sell
its property located at 243 Eastwood Circle, Orangeburg, S.C.

The firm will get a 6 percent commission on the sale price.

Linda Fischer, a broker at Keller Williams Palmetto, disclosed in a
court filing that her firm does not have connection with the
Debtor, creditors or any other party in interest.

The firm can be reached through:

      Linda Fischer
      Keller Williams Palmetto
      1520 Russell St.
      Orangeburg, SC 29115
      Phone: +1 803-404-0360

                  About Evergreen Mortgage Notes

Evergreen Mortgage Notes, LLC is engaged in activities related to
real estate.

Evergreen Mortgage Notes sought Chapter 11 protection (Bankr. M.D.
Fla. Case No. 20-07071) on Dec. 31, 2020.  Marc Younger, chief
executive officer, signed the petition.  The Debtor reported total
assets of $459,500 and total liabilities of $1.27 million at the
time of the filing.

The Debtor tapped de Beaubien, Simmons, Knight, Mantzaris & Neal,
LLP as its legal counsel.


FIRST TO THE FINISH: U.S. Trustee Unable to Appoint Committee
-------------------------------------------------------------
The U.S. Trustee for Region 10 disclosed in a court filing that no
official committee of unsecured creditors has been appointed in the
Chapter 11 case of First to the Finish Kim and Mike Viano Sports
Inc.
  
                   About First to the Finish Kim
                    and Mike Viano Sports Inc.

First to the Finish Kim and Mike Viano Sports Inc. sells sporting
goods, hobby and musical instruments.

First to the Finish Kim and Mike Viano Sports filed its voluntary
petition for relief under Chapter 11 of the Bankruptcy Code (Bankr.
S.D. Ill. Case No. 20-30955) on Oct. 7, 2020. The petition was
signed by Mike Viano, president.  At the time of filing, the Debtor
estimated $1 million to $10 million in both assets and liabilities.


Judge Laura K. Grandy oversees the case.  The Debtor is represented
by Carmody MacDonald P.C.


FXI HOLDINGS: Moody's Affirms B3 CFR & Alters Outlook to Stable
---------------------------------------------------------------
Moody's Investors Service changed the rating outlook for FXI
Holdings, Inc. to stable from negative. Concurrently, Moody's
affirmed FXI's B3 Corporate Family Rating, B3-PD Probability of
Default rating, and B3 debt instrument rating on the existing
senior secured notes.

The affirmation of FXI's B3 CFR reflects Moody's expectation that
the company's operating performance and liquidity position will
improve due to higher than anticipated demand for bedding
technology and comfort products. Moody's expects EBITDA over the
next 12 to 18 months to increase to around $300 million, benefiting
mostly from the continued realization of post-merger synergies
following the Innocor acquisition in early 2020. Demand for
products such as mattresses and furniture will remain strong as
consumers focus more on home comfort and less on travel and
leisure. Additionally, the pickup in housing demand, driven in part
by low mortgage rates, will continue to have a positive effect on
demand for FXI's products. The negative economic impact caused by
the spread of the coronavirus, though material in the 2Q 2020, was
not as egregious as Moody's initially anticipated. As a result,
Moody's expects debt to EBITDA to decline to around 5.0x over the
next 12-18 months from its very high current level of 7.6x (as of
September 2020, pro forma for Innocor). Furthermore, absent merger
related transaction and restructuring expenses incurred in 2020,
Moody's expects FXI to materially improve its cash from operations
to around $75 to $100 million over the next 12-18 months. Moody's
believes this level of cash flow will be necessary for FXI to
maintain the financial flexibility required to execute its
strategic and operational plans.

FXI's good liquidity is supported by $77 million of unrestricted
cash as of September 27, 2020 and access to approximately $180
million under a $235 million asset-based loan facility that expires
in November 2025. Moody's expects the majority of the incremental
improvements in retained cash flow will be used to fund growth
capital expenditures and growth-related working capital
requirements in 2021. There are no maturities until the 7.875%
notes come due in November 2024.

The following ratings/assessments are affected by the action:

Ratings Affirmed:

Issuer: FXI Holdings, Inc.

Corporate Family Rating, Affirmed B3

Probability of Default Rating, Affirmed B3-PD

Senior Secured Global Notes, Affirmed B3 (LGD4)

Outlook Actions:

Issuer: FXI Holdings, Inc.

Outlook, Changed To Stable From Negative

RATINGS RATIONALE

FXI's B3 CFR is supported by its improved scale, strong market
position in the U.S. foam manufacturing industry and good end
market diversity through its automotive, bedding & furniture,
technical and medical segments. FXI partially mitigates earnings
volatility associated with chemical prices with its 'pass-through'
contracts. Ratings are constrained by high leverage, cyclical
demand of its automotive, bedding and furniture end markets, and
governance risk related to aggressive financial strategies expected
under private equity ownership. Free cash flow is weak in part due
to the very high cost of debt, while an increase in capital
expenditures will dampen the benefit from reduced integration
spending in 2021.

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
FXI from the current weak US 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 Moody's 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.
The consumer durables industry is one of the sectors most
meaningfully affected by the coronavirus because of exposure to
discretionary spending.

The company uses, transports, and stores chemicals in its
manufacturing process. A failure to adhere to environmental
regulations and safe practices could result in financial penalties
and remediation costs.

From a governance standpoint, FXI has historically operated with
high leverage and with the risks associated with being owned by a
private equity firm. The leveraged buyout by One Rock Capital
Partners in 2017 and debt-financed acquisition of Innocor
demonstrate an aggressive financial policy.

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

The stable outlook reflects Moody's expectation that FXI's
operating performance will continue to improve and that the company
will reduce debt to EBITDA comfortably below 6.0x over the next 12
to 18 months. Moody's also expects the company to maintain good
liquidity over the next year despite its investments in capital
expenditures.

The ratings could be upgraded if the company organically grows
revenue with a stable to higher margin, realizes expected synergies
from the Innocor acquisition, generates comfortably positive free
cash flow, demonstrates a more conservative financial policy, and
sustains debt to EBITDA below 5.5x.

The ratings could be downgraded if the company's operating
performance does not improve as expected in 2021, liquidity
weakens, free cash flow negative for a prolonged period of time, or
the company completes debt-funded acquisitions or shareholder
distributions.

The principal methodology used in these ratings was Consumer
Durables Industry published in April 2017.

FXI is a North American comfort technologies provider serving
multiple end-markets at scale. End-markets and applications include
bedding, furniture, comfort and acoustic applications in
automotive, surgical applicators, and filtration and industrial
acoustic management. Pro forma for the company's recent merger with
Innocor, annual revenues (net of fabric pass through) was
approximately $1.1 billion for the twelve months ending September
30, 2020.


GATEWAY FOUR: Court Allows Cash Collateral Use on Final Basis
-------------------------------------------------------------
Judge Martin R. Barash of the U.S. Bankruptcy Court for the Central
District of California, San Fernando Valley Division, authorized
David K. Gottlieb, as Chapter 11 Trustee of the Gateway Four, LP
Bankruptcy Estate, to continue using cash collateral on a final
basis.

The Court approved the Stipulation executed between the Trustee and
Romspen Mortgage Limited Partnership.

The Trustee is authorized to use the Remaining Gateway Four Estate
Funds to pay for the expenses set forth in the approved Budget.
The approved Budget provided for total disbursements in the amount
of $470,500.

Judge Barash held that "the Carve-Out provisions and procedures of
Section 5 of the Interim DIP Financing/Cash Collateral Order shall
apply to the payment of professional fees and expenses as set forth
in the New Approved Budget."  He further held that "all of the
rights and protections afforded to Romspen, KPRS, Largo and all
other parties who assert an interest in the assets of the Gateway
Four estate as set forth in the Interim DIP Financing/Cash
Collateral Order and the Final DIP Financing/Cash Collateral Order
shall continue in effect on the terms set forth therein."

Judge Barash added that "the terms of the Postpetition Credit
Agreement (as defined in the Interim DIP Financing/Cash Collateral
Order) are hereby modified solely to amend the Approved Budget
attached thereto to conform with the New Approved Budget.  Other
than as specifically set forth herein, all terms of the
Postpetition Credit Agreement, the Interim DIP Financing/Cash
Collateral Order, and Final DIP Financing/Cash Collateral Order
shall remain in full force and effect."

A full-text copy of the Final Order Approving Stipulation
Authorizing Chapter 11 Trustee to Continue Using the Cash
Collateral of the Gateway Four, LP Bankruptcy Estate is available
for free at https://tinyurl.com/2ke9hbzn from PacerMonitor.com.

                    About Gateway Four LLP

Gateway Four LP and its affiliates Gateway Two LP and Gateway Five
LLC sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. C.D. Cal. Lead Case No. 20-11581) on Aug. 31, 2020.  In the
petition signed by its president, James Acevedo, Gateway Four
disclosed up to $100 million in assets and up to $50 million in
liabilities.

Judge Martin R. Barash oversees the case.

Daniel M. Shapiro, Esq., Attorney at Law serves as the Debtors'
counsel, and the Law Office of Sevan Gorginian as co-counsel.

David K. Gottlieb of D. Gottlieb & Associates, LLC, has been
appointed as Chapter 11 Trustee.  He is represented by Ron Bender,
Esq. and Krikor J. Meshefejian, Esq. at Levene, Neale, Bender, Yoo
& Brill L.L.P.



GIBSON FARMS: Cash Collateral Use Allowed Until June 30
-------------------------------------------------------
Judge Robert L. Jones of the U.S. Bankruptcy Court for the Northern
District of Texas, Amarillo Division, authorized Gibson Farms and
its affiliated Debtors to use cash collateral until June 30, 2021.

Rabo Agrifinance, Inc. is the Debtors' largest secured creditor.
Rabo asserts that, as of the date of the filing of the petition, it
was owed in the aggregate approximately $10,629,288 secured by deed
of trust liens and security interests against (in addition to its
liens against non-debtor property) the Debtors' real and personal
property assets, including but not limited to cattle, crops, crop
insurance, USDA farm program benefits, accounts, inventory, and
farm machinery and equipment, and the proceeds and products
thereof. Rabo's collateral includes property that constitutes cash
collateral as defined by Section 363(a) of the Bankruptcy Code.

The value of assets against which Rabo holds liens and security
interests totals $11,905,475.

The U.S. Small Business Administration is the other secured
creditor with a lien on Cash Collateral.  The SBA is owed notes
associated with the CARES Act EIDL loan program and holds a second
lien security interest against the same types of collateral as Rabo
(including Cash Collateral) with the exception that it has no lien
against real property.  The debt owed to the SBA by Debtors Gibson
Farms and Nature's Way Compost, LLC is $149,900 each, plus an
additional $7,800 owed by Gibson Investments, for a total debt owed
to the SBA by the three entities of $307,600.

Debtors Gibson Farms and NWC also have installment purchase
contracts related to vehicles and farm machinery and equipment
which total approximately $1.6 million.

The Debtors have outstanding trade payables owed to agriculture
chemical, seed and fertilizer suppliers, along with local vendors
for fuel, parts, livestock feed and other crop inputs which result
in total unsecured claims of approximately $600,000.

"Currently, the Debtors have an immediate need for use of Cash
Collateral while they work to confirm their plan of reorganization
for their farming, compost, and livestock operations.  Gibson Farms
is in the process of preparing for its 2021 crops.  It has ongoing
labor, fuel, equipment repair and maintenance, and other expenses.
There is also the need to care for and feed livestock.  In
addition, NWC has ongoing operations which require funds to
properly process the manure and deliver the finished inventory of
composted fertilizer to farmers for use on their farms. Absent the
ability to continue to use Cash Collateral these operations and the
Debtors' estates will be hampered in their efforts to reorganize
their debts and timely propose a Chapter 11 plan of
reorganization," Judge Jones said.

The Debtors were authorized to use Cash Collateral consisting of
the currently collected funds identified by the Debtors:

     Gibson Farms                  $900,078
     NWC                           $734,471
     Paula & Lee along with
        Gibson Investments          $42,168

to pay for expenses necessary for the ongoing care and maintenance
of the livestock and farming operations, to maintain operations at
its manure processing and compost facility and living expenses in
accordance with the approved Budgets, through the earliest to occur
of June 30, 2021, or the date of entry of an Order confirming the
Debtors' proposed Joint Chapter 11 Plan.

The approved Budgets cover the months of March through June and
provide for these total expenses:

     Gibson Farms:

          March 2021: $65,342.01
          April 2021: $300,532.01
          May 2021: $374,862.01
          June 2021: $159,342.01

     Nature's Way Compost:

          March 2021: $217,935.08
          April 2021: $161,917.07
          May 2021: $192,789.93
          June 2021: $161,830.08

     Gibson Investments:

          March 2021: $1,685
          April 2021: $1,225
          May 2021: $1,225
          June 2021: $2,475

     Lee & Paula Gibson

          March 2021: $9,551.85
          April 2021: $9,101.85
          May 2021: $8,451.85
          June 2021: $8,451.85

As adequate protection of Rabo's and SBA's interest in the Cash
Collateral, Rabo and SBA were granted additional valid,
automatically perfected post-petition replacement liens against any
and all personal property assets of the Debtors acquired or
generated by the Debtors after their Petition Dates, if any, and in
any products, proceeds or insurance recoveries related thereto,
including but not limited to all post-petition farm products, feed,
fertilizer, supplies, inventory, accounts, proceeds from crop or
livestock insurance, general intangibles, and all products and
proceeds thereof, for the full amount of the Cash Collateral which
is utilized pursuant to this Order.  The replacement liens will
have the same validity and priority as the security interests and
liens existing against the Cash Collateral on the date of the
filing of the Debtors' bankruptcy petitions.

In the event the Debtors' Plan of Reorganization is not confirmed
by June 17, 2021, a hearing will be held that day at 1:30 p.m. on
the Debtors' continued use of cash collateral.

A full-text copy of the Fourth Agreed Order for Interim Use of Cash
Collateral and Providing Adequate Protection to Rabo Agrifinance
LLC and the Small Business Administration is available at
https://tinyurl.com/t6nd9brf from PacerMonitor.com.

                    About Gibson Farms

Gibson Farms has over 45 years' experience in farm management as
well as an established history in Moore County agriculture.  Gibson
Farms rents farmland from Beauchamp Estates Partnership and Gibson
Investments as well as other landowners in the area.  They raise
feed grains, forage crops, cotton which they sell either through
private contract or on the open market.

Gibson Farms and its affiliates filed voluntary petitions for
relief under Chapter 11 of Bankruptcy Code (Bankr. N.D. Tex. Lead
Case No. 20-20271) on Oct. 5, 2020.  Paula Gibson, partner, signed
the petitions.  At the time of the filing, the Debtors estimated
assets of between $1,000,001 and $10,000,000 and liabilities of
between $10,000,001 and $50,000,000.  

Judge Robert L. Jones oversees the cases.

The Debtors have tapped Mullin Hoard & Brown, LLP as legal counsel;
Clint W. Bumguardner of W.T. Appraisal, Inc. as real estate
appraiser; and Frost, PLLC as accountant.

Rabo Agrifinance, Inc. is represented by:

          Heath Hendricks, Esq.
          RINEY & MAYFIELD, LLP
          320 S. Polk Street, Suite 600
          Amarillo, TX 79101
          Telephone: 806-468-3200
          Email: hhendricks@rineymayfield.com  

               - and -

          Michael R. Johnson, Esq.
          RAY QUINNEY & NEBEKER P.C.
          36 South State, Suite 1400
          Salt Lake City, UT 84111
          Telephone: 801-532-1500
          Email: MJohnson@rqn.com

The U.S. Small Business Administration is represented by:

          Erin Nealy Cox, Esq.
          United States Attorney
          Donna K. Webb, Esq.
          Assistant U.S. Attorney
          1100 Commerce St., Ste. 300
          Dallas, TX 75242
          Telephone: 214-659-8600
          Email: donna.webb@usdoj.gov



GO DADDY: New $800M Incremental Debt No Impact on Moody's Ba2 CFR
-----------------------------------------------------------------
Moody's Investors Service said Go Daddy Operating Company, LLC
announced plans to issue an incremental $800 million in senior
unsecured notes to fund organic growth and M&A investments is
credit negative because it increases the company's financial
leverage but the rating agency expects Go Daddy will generate free
cash flow in the high teens as a percentage of debt. While leverage
is relatively weak for the Ba2 Corporate Family Rating, the
company's credit profile benefits from a highly recurring
subscription-oriented business model and high retention rates.
There are no changes to the ratings at this time.

Go Daddy Operating Company, LLC, is an indirect subsidiary of
publicly-traded GoDaddy Inc. GoDaddy Inc. is a leading provider of
domain name registration, web hosting and other services to small
business. Moody's expect 2021 revenues of over $3.6 billion.


GOLDEN STATE: Moody's Completes Review, Retains B2 CFR
------------------------------------------------------
Moody's Investors Service has completed a periodic review of the
ratings of Golden State Buyer, Inc. and other ratings that are
associated with the same analytical unit. The review was conducted
through a portfolio review discussion held on February 23, 2021 in
which Moody's reassessed the appropriateness of the ratings in the
context of the relevant principal methodology(ies), recent
developments, and a comparison of the financial and operating
profile to similarly rated peers. The review did not involve a
rating committee. Since January 1, 2019, Moody's practice has been
to issue a press release following each periodic review to announce
its completion.

This publication does not announce a credit rating action and is
not an indication of whether or not a credit rating action is
likely in the near future. Credit ratings and outlook/review status
cannot be changed in a portfolio review and hence are not impacted
by this announcement.

Key rating considerations

Golden State's B2 Corporate Family Rating reflects its moderately
high financial leverage in light of high customer concentration
with the US Department of Veteran's Affairs and the Department of
Defense. Golden State's rating is supported by exclusive contracts
with long contract tenure, relatively high contract win rates and
low earnings volatility. Moody's expects that Golden State's strong
operating performance in its non-exclusive business with the US
government will continue, which will boost overall operating
margins.

The principal methodology used for this review was Distribution &
Supply Chain Services Industry published in June 2018.


GRAHAM PACKAGING: Moody's Rates New First Lien Term Loan 'B1'
-------------------------------------------------------------
Moody's Investors Service assigned a B1 rating to Graham Packaging
Company, Inc's new senior secured first lien term loan due 2027.
The B2 Corporate Family Rating and B2-PD Probability of Default
Rating are unchanged. The outlook remains stable. The terms and
conditions of the new term loan are expected to be the same as the
existing. The proceeds from the new term loan will be used to repay
the existing senior secured first lien term loan due 2027 pay fees
and expenses. The rating on the existing first lien term loan due
2027 will be withdrawn at the close of the transaction. Moody's
considers the transaction credit neutral.

Assignments:

Issuer: Graham Packaging Company, Inc

Senior Secured 1st Lien Term Loan, Assigned B1 (LGD3)

The rating is subject to the receipt and review of the final
documentation.

RATINGS RATIONALE

Moody's expects Graham's credit profile to improve into 2021 as the
company benefits from productivity initiatives, an exit from
certain low margin business and the dedication of free cash flow to
debt reduction. Pro forma for the recent spin off from Reynolds
Group Holdings Inc. (Reynolds, B2 stable), Moody's expects debt to
adjusted EBITDA to decline from 5.8x to 5.4x as the adjusted EBITDA
margin improves to approximately 21.0% from 18.5% by 2021. Free
cash flow to adjusted debt is expected to remain weak due to
elevated capex spending for productivity initiatives, but should
more than double to at least 2.5% by the end of 2021 and improve
thereafter as capex spending declines.

Weaknesses in Graham's credit profile include a high customer
concentration of sales (52% from the top ten) and participation in
the competitive and fragmented packaging industry which makes
growth and margin expansion difficult. The company generates 13% of
sales from the cyclical automotive end market. Graham's revolver is
small relative to its capex spend and interest expense (or as a
percentage of sales). Further, free cash flow is expected to remain
weak in the near-term as capex for productivity initiatives
continues through 2021. The company is dependent on successful
implementation of productivity initiatives to improve its weak pro
forma cash flow.

Graham is expected to benefit from its high exposure to stable end
markets (food, beverage and household generate 87% of revenue) and
long-term relationships with blue-chip customers. The company also
has 90% of business under long-term contact with raw material cost
pass-through provisions which raises switching costs for customers
and protects margins from input price increases. Additionally,
one-third of the company's facilities are co-located on the
customer's premises which also raises switching costs.

Moody's expects Graham's liquidity profile to be good,
characterized by weak free cash flow over the next 12 months offset
by adequate back up liquidity from a $100 million revolver which
expires in 2025 and a significant amount of cash on hand.

The stable outlook reflects Moody's expectation that Graham will
effectively execute on its productivity initiatives, improve EBITDA
and direct all free cash flow to debt reduction.

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

The ratings could be downgraded if Graham fails to execute on its
initiatives and improve EBITDA and free cash flow. Should the
company not maintain adequate liquidity or the competitive
environment does not remain stable, the ratings could also be
downgraded. Specifically, the ratings could be downgraded if:

Debt to EBITDA is above 6.0 times

EBITDA to interest expense is below 2.5 times

Funds from operations to debt is below 10.0%

An upgrade would require a sustainable improvement in credit
metrics and liquidity as well as a stable competitive environment.
Specifically, the ratings could be upgraded if:

Debt to EBITDA is below 5.25 times

EBITDA to interest expense is above 3.5 times

Funds from operations to debt is above 13.0%

Headquartered in Lancaster, Pennsylvania, Graham Packaging Company,
Inc is a manufacturer of rigid plastic packaging. Graham serves the
food, beverage, household and automotive end markets primarily in
North America. Following the Pactiv IPO last year (PTVE), a
stand-alone separation from Reynolds Group Holdings Inc. (Reynolds,
B2 stable) occurred in September of 2020: Graham Packaging is
wholly owned by Packaging Finance Limited (New Zealand) which is
solely owned by financier Graeme Hart.

The principal methodology used in this rating was Packaging
Manufacturers: Metal, Glass and Plastic Containers Methodology
published in September 2020.


GRAN TIERRA: Swings to $778 Million Net Loss in 2020
----------------------------------------------------
Gran Tierra Energy Inc. filed with the Securities and Exchange
Commission its Annual Report on Form 10-K disclosing a net and
comprehensive loss of $777.97 million on $237.84 million of oil
sales for the year ended Dec. 31, 2020, compared to net income of
$38.69 million on $570.98 million of oil sales for the year ended
Dec. 31, 2019.

As of Dec. 31, 2020, the Company had $1.20 billion in total assets,
$113.67 million in total current liabilities, $831.05 million in
total long-term liabilities, and $257.03 million in total
shareholders' equity.

The Company's gross cash general and administrative costs were $23
million for the year ended 2020, down 32% from $33 million for the
year ended 2019. On an aggregate basis, total operating, G&A and
transportation costs decreased to $145 million for the year ended
2020; down $92 million, a 39% reduction, from $237 million for the
year ended 2019.  The majority of the cost reductions represent
structural improvements in the Company's operations, which are
expected to be maintained as oil prices recover further.

Message to Shareholders

"I would like to thank our teams in Colombia, Canada and Ecuador
for their excellent work and dedication in the face of a most
challenging year for Gran Tierra and our industry," commented Gary
Guidry, president and chief executive officer of Gran Tierra.  "The
diligent management of COVID-19 safety protocols kept our people
and the communities in which we operate safe, and allowed us to
continue operating through the significant downturn our industry
experienced in 2020.  Throughout the course of the first half of
2020, we took quick decisive action to protect our balance sheet by
deferring our capital program, reducing our well workover
activities, implementing cost saving initiatives, and shutting in
higher-cost, lower-production minor fields, all while preserving
the long-term value of our asset base.  The Colombian government
was very proactive in supporting the industry during this time,
implementing measures to help companies with commitment management
and tax reimbursements.

"During the second half of 2020, we realized and solidified our
many cost saving initiatives, while cautiously planning a restart
of our workovers and minor fields, as well as our development
drilling program which commenced during the Quarter.  Our key
objective during the second half of 2020 was restarting our
workover and drilling operations to economically rebuild production
to achieve strong 2020 reserves replacement.  With our workover and
drilling campaigns charging ahead, production growing, and a new
lower cost structure in place, we believe we have successfully
positioned the Company to thrive in 2021 and beyond.

"Our 2021 capital budget is a balanced, returns-focused program
which prioritizes free cash flow(3) generation and debt reduction.
We have allocated a modest amount to advance exploration-related
activities for our high-impact exploration portfolio, which we plan
to accelerate in 2022. Our 2021 program is designed to continue
focusing on optimizing our four core assets under waterflood and
maximizing the long-term value from all of our assets."

Mr. Guidry continued, "As difficult as 2020 was, Gran Tierra never
faltered in its commitment to the health and safety of our people
and all of our stakeholders.  As a result, we achieved our best
safety year on record with an LTI frequency of zero during 2020.
Suspending and restarting oil fields, drilling and workover
operations and construction projects are the highest risk
activities that we face in the industry and our team did an
excellent job. Health and safety will continue to be a focus in
2021 through our industry-leading COVID-19 safety practices and
protocols.  In addition, our 'Beyond Compliance Policy' continues.
Where Gran Tierra identifies significant opportunities and benefits
to the environment and communities, we voluntarily strive to go
beyond what is legally required to protect the environment and
provide social benefits, because it is the right thing to do."

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

https://www.sec.gov/ix?doc=/Archives/edgar/data/1273441/000127344121000007/gte-20201231.htm

                        About Gran Tierra

Headquartered in Calgary, Alberta, Canada, Gran Tierra Energy Inc.
(www.grantierra.com), together with its subsidiaries, is an
independent international energy company focused on oil and natural
gas exploration and production.  The Company is focused on its
existing portfolio of assets in Colombia and Ecuador and will
pursue new growth opportunities throughout Colombia and Latin
America, leveraging its financial strength.  The Company's common
stock trades on the NYSE American, the Toronto Stock Exchange and
the London Stock Exchange under the ticker symbol GTE.


GREEN MOUNTAIN: Allowed to Use Cash Collateral on Final Basis
-------------------------------------------------------------
Judge Karen S. Jennemann of the U.S. Bankruptcy Court for the
Middle District of Florida, Orlando Division, authorized Green
Mountain Specialties Corp. to use cash collateral on a final basis,
retroactive to November 17, 2020.

The Debtor was authorized to use cash collateral to pay: (a)
amounts expressly authorized by the Court; (b) the current and
necessary expenses set forth in the approved budget, plus an amount
not to exceed 10% for each line item; and (c) such additional
amounts as may be expressly approved in writing by the Cash
Collateral Creditor, FundBox.

The approved Budget provided for total expenses in the amount of
$680,140, and covered expenses, such as, lease payments, loan
payments, equipment payments, vehicle payments, insurance, payroll,
materials, phone, and up keep.

The Cash Collateral Creditor was granted a perfected post-petition
lien against cash collateral to the same extent and with the same
validity and priority as their respective pre-petition liens,
without the need to file or execute any document as may otherwise
be required under applicable non bankruptcy law.

The Debtor was directed to make monthly adequate protection
payments to the Cash Collateral Creditor in the amount of $1,123.90
per month.  The Debtor was prohibited from repaying any loans to
insiders.

A full-text copy of the Final Order Granting Debtor's Motion for
Authority to Use Cash Collateral Pursuant to 11 U.S.C. Section 363
Retroactively to November 17, 2020, and Request for
Expedited/Emergency Hearing, dated February 25, 2021, is available
for free at https://tinyurl.com/pyx2wd7r from PacerMonitor.com.

                    About Green Mountain Specialties Corp.

Green Mountain Specialties Corp., filed a Chapter 11 bankruptcy
petition (Bankr. M.D. Fla. Case No. 20-06370) on Nov. 17, 2020,
disclosing under $1 million in both assets and liabilities.

The Debtor is represented by the Law Offices of L. William Porter
III, P.A.




GYPSUM RESOURCES: Seeks Authority to Use Rep-Clark Cash Collateral
------------------------------------------------------------------
Gypsum Resources Materials, LLC and Gypsum Resources, LLC ask the
U.S. Bankruptcy Court for the District of Nevada for authorization
to use Rep-Clark, LLC's cash collateral.

On February 8, 2018, the Debtors and Rep-Clark entered into various
agreements that comprised the "Rep-Clark Transaction."  These
agreements include, among others, the Reserves Agreement.

The Reserves Agreement contained, among others, these relevant
terms:

     (a) GR, the owner of certain gypsum and anhydrite reserves
located on certain patented mining claims on various parcels of
real property located in Clark County, Nevada, purportedly agreed
to sell the Mining Claims to Rep-Clark and executed a Mining Claims
Grant Bargain and Sale Deed in favor of Rep-Clark, which was
recorded on or about February 15, 2018.  The purported sale of the
Mining Claims was subject to GR's reservation of surface rights as
well as a reservation of all entitlements, master-planning,
development and construction rights, privileges, interests, and
claims appertaining thereto, except that GR's surface rights would
be subject to an easement in favor of Rep-Clark.  The purported
sale of Mining Claims was with respect to 20 million tons of gypsum
(the "Reserves"), with a fair market value of approximately $18.06
per ton versus a cost to produce averaging $10.14 per ton,
resulting in an aggregate net fair market value of approximately
$158,400,000.  Since February 8, 2018, GRM has mined approximately
2,707,618 tons, leaving approximately 17,292,382 tons of Reserves
remaining, with an aggregate net fair market value of approximately
$136,955,665.  Assuming optimal conditions, GRM anticipates mining
gypsum at the rate of approximately 100,000 tons (with an aggregate
net fair market value of approximately $792,000) per month, or
1,200,000 tons (with an aggregate net fair market value of
approximately $9,504,000) per year.

     (b) Rep-Clark, GR, and GRM were required to execute a separate
so-called Mining Lease Agreement, an unsigned copy of which was
attached to the Reserves Agreement.  In summary, the Purported
Lease provided that GRM would continue to conduct mining operations
by, among other things, extracting, producing, and selling the
minerals subject to the Mining Claims in exchange for making
certain royalty payments to Rep-Clark.  The Purported Lease further
provided that the Mining Claims would be quitclaimed back to GR
upon payment of the royalties in full.

     (c) The Land Royalty Agreement, an unsigned copy of which was
attached to the Reserves Agreement, concerned approximately 522
acres of real property that GR owned (colloquially referred to as
Blue Diamond Hill, and as the "Development Land" in the Reserves
Agreement).  Per Section 1.1 of the Land Royalty Agreement,
Rep-Clark was to receive the greater of: (i) a 6% interest in gross
proceeds from the sale of the Development Land, net of certain
customary closing costs, and (ii) $30,651.54 per acre of
Development Land sold (or a minimum of $16,000,000), which together
were referred to as the "Land Royalty" in the Reserves Agreement.
The Land Royalty was secured by a deed of trust on GR's interest in
surface and development rights in approximately 352 acres of real
property, which was defined as the "Land Royalty Collateral."  The
Land Royalty Collateral has an aggregate allocated value of
$195,278,000 (and a liquidation value of $136,696,000).

     (d) GR was obligated to make certain payments to Rep-Clark,
including:

          i. The "Tonnage Payment" set forth in sections 9.4 and
9.5 of the Reserves Agreement required GR to pay an amount
determined by a formula if less than 30,000,000 tons of proven
gypsum reserves existed on the Mining Claims purportedly sold to
Rep-Clark.  The Tonnage Payment was secured by a deed of trust on
approximately 132 acres of real property defined as the "Tonnage
Payment Collateral."  After a Report was issued by Robison
Engineering Company, Inc. on May 24, 2018, documenting over
30,000,000 tons of proven gypsum reserves, the Tonnage Payment
Collateral was released.

         ii. The "QE Payment" set forth in section 6.4 of the
Reserves Agreement required GR to pay Rep-Clark $17,000,000 within
90 days of Rep-Clark's written demand if the "Royalty Coverage
Ratio" did not exceed certain levels pursuant to quality of
earnings reports for calendar years 2017 and 2018.  The Royalty
Coverage Ratio was calculated by dividing (x) the GR and GRM
earnings before interest and taxes less debt service obligations by
(y) the annual "Minimum Royalty" as defined in the Mining Purported
Lease.  The QE Payment obligation is secured by a deed of trust on
certain real property defined as the "QE Payment Collateral."  The
QE Payment Collateral has an aggregate allocated value of
$184,274,000 (and a liquidation value of $128,992,000).  On June
27, 2019, Rep-Clark served on GR a written demand for payment of
the $17,000,000 QE Payment, asserting that GR failed to meet the
requisite Royalty Coverage Ratio.

        iii. The "Environmental Payment" set forth in section 6.6
of the Reserves Agreement required GR to pay Rep-Clark $3,000,000
within 30 days of Rep-Clark's written demand if certain conditions
and requirements set forth in section 6.5 of the Reserves Agreement
were not satisfied.  The Environmental Payment is secured by a deed
of trust on approximately 150 acres of real property defined as the
"Environmental Payment Collateral."  The Environmental Payment
Collateral has an aggregate allocated value of $78,696,000 (and a
liquidation value of $55,087,000).  

The Debtors contend that GR purportedly transferred to Rep-Clark
Mining Claims with an aggregate value of approximately $158,400,000
(based on current fair market value), and pledged to Rep-Clark real
property with an aggregate allocated value of approximately
$458,248,000 million (comprised of $195,278,000 Land Royalty
Collateral, $184,274,000 QE Payment Collateral, and $78,696,000
Environmental Payment Collateral, but excluding the Tonnage Payment
Collateral for purposes of the instant analysis).  In return,
Rep-Clark delivered $30 million in cash to GR upon closing, net of
certain adjustments and prorations.

On February 12, 2018, GR, GRM, and Rep-Clark executed the Purported
Lease.  The material terms of the Purported Lease, among others,
are as follows:

     (a) In section 1.1 of the Purported Lease, Rep-Clark granted
GRM the right to develop, mine, treat, process, ship, sell, market,
and otherwise exploit and dispose of all gypsum or other minerals
and materials that Rep-Clark purchased from GR pursuant to the
Reserves Agreement, including the right for GRM to take all steps
necessary to engage in such activities.  Section 3.2 of the
Purported Lease clarified that: "Any Valuable Minerals mined from
the Reserves shall be the property of [GRM] and [GRM] shall be
entitled to the proceeds of sale, disposition or exploitation
thereof, subject to the payment of Royalty as provided for in
Section 4.1."

     (b) The term of the Purported Lease was "for so long as is
required to mine and sell the Reserves" unless extended or
terminated pursuant to terms set forth in the Purported Lease.

     (c) On an annual basis, GRM was to pay Rep-Clark the greater
of: (1) a "Production Royalty" equal to $2.75 per ton, increasing
annually by 2.5%, for each ton of gypsum mined and removed from the
Reserves and sold or processed by GRM (the Production Royalty was
$2.82 per ton in 2019, $2.89 per ton in 2020, and is $2.96 per ton
in 2021); or (2) a "Minimum Royalty" of one million tons multiplied
by the then applicable Royalty Rate regardless of whether any
minerals were actually mined. The Royalty was to be paid on a
quarterly basis.

     (d) In addition, GRM was required to pay Rep-Clark a
"Compensatory Royalty" upon termination of the Purported Lease at
any time.  Such Compensatory Royalty, in essence, equaled the
balance of the Royalty payments that GRM would have had to pay for
mining the total amount of Reserves.  Hence, if the Purported Lease
were terminated after one day, GRM would be required to pay
Rep-Clark the entire amount of Royalty payments due with respect to
all of the unmined reserves.

     (e) Upon termination of the Purported Lease (and Rep-Clark's
receipt of the Compensatory Royalty), Rep-Clark was required to
execute and deliver to GR quitclaim deeds reconveying such Mining
Claims or portions thereof for no additional consideration.
Additionally, GRM could obtain the release of any Mining Claim upon
payment to Rep-Clark of an amount equal to the Royalty that would
have been payable for the remaining, agreed-upon reserves located
on the Mining Claim.

On August 8, 2018, the Debtors and Rep-Clark entered into
amendments to both the Reserves Agreement and Purported Lease, and
on October 31, 2018, the Debtors and Rep-Clark entered into a
second amendment to the Reserves Agreement.  Pursuant to the First
Amendment, GR entered into a Negative Pledge Agreement with
Rep-Clark, which requires GR to hold 10,000,000 tons of Mining
Claims as "Required Additional Reserves" in favor of Rep-Clark, and
forbids GR to transfer or encumber the Required Additional
Reserves.  The Required Additional Reserves have an aggregate
current net fair market value of approximately $79,200,000.
Pursuant to the Reserves Agreement, if Rep-Clark does not receive
$16,000,000 in Land Royalty payments within six years of Closing
Date, then GR is required to "convey" the Mining Claims upon such
Required Additional Reserves to Rep-Clark.  The Second Amendment
added a new section 7.19, entitled "Cross-Default" to the Reserves
Agreement, making GR's default under any of the "Closing Documents"
(which included the Reserves Agreement, the Land Royalty Agreement
and Mining Lease), a default under all Closing Documents.  The only
exceptions are GR's obligations to make the QE Payment and the
Environmental Payment, a default of which does constitute a
cross-default under all Closing Documents, but entitles Rep-Clark
to foreclose on the respective QE Payment Collateral and
Environmental Collateral.

The Debtors say Rep-Clark asserts they owe it $17,000,000 for the
QE Payment and $5,475,156 in unpaid Royalty Payments, for a total
currently owing of $22,475,156.  The Debtors further say that in a
"worst case" scenario, where all payments due under the Reserves
Agreement and Purported Lease were accelerated to today, the
Debtors would owe Rep-Clark a maximum of $97,654,281 (comprised of
the $17,000,000 QE Payment, $16,000,000 Land Royalty Payment,
$3,000,000 Environmental Payment, $5,475,156 unpaid Royalty
Payments, and $56,179,125 Compensatory Royalty).  The Debtors add
that in comparison, Rep-Clark currently has real property
collateral with an aggregate fair market value of approximately
$458,248,000 (comprised of the $195,278,000 Land Royalty
Collateral, $184,274,000 QE Payment Collateral, and $78,696,000
Environmental Payment Collateral), plus Mining Claims with an
aggregate fair market value of approximately $136,955,665, for a
total collateral package of $595,203,665.  The Debtors contend that
assuming optimal conditions, GRM anticipates mining gypsum at the
rate of approximately 100,000 tons (with an aggregate net fair
market value of approximately $792,000) per month, or 1,200,000
tons (with an aggregate net fair market value of approximately
$9,504,000) per year.

The Debtors have filed a Complaint on August 9, 2019, which alleged
that the seven factors traditionally considered when determining
whether a lease is a true lease or disguised financing all compel a
finding that the Purported Lease and Reserves Agreement together
constitute disguised financing.  The Complaint sought a declaration
that the Reserves Agreement and the Purported Lease together form a
disguised financing arrangement and not a "sale" and "lease."  The
Complaint requested the Court to order that the interests created
by the Purported Lease are properly excluded from application of
any Bankruptcy Code section that is pertinent to leases, including
but not limited to Bankruptcy Code sections 365 and 1123.

The Debtors say that on August 14, 2019, they offered to add
3,000,000 tons of gypsum reserves (with an aggregate net market
value of $23,760,000) to the Required Additional Reserves (for an
aggregate of 13,000,000 tons) in the Negative Pledge as proposed
adequate protection.  The Debtors further say that they are
currently negotiating with Rep-Clark, exchanging numerous proposed
term sheets back and forth, beginning in December 2020 and
continuing into February 2021. They tell the Court that although
the Parties have yet to reach a definitive settlement agreement,
the Debtors' Adequate Protection Offer remains open, without
expiration date, and that to date, Rep-Clark has not rejected it.

In seeking the Court's authorization to use cash collateral, the
Debtors contend that "anticipating the possibility that the Court
will recharacterize the Rep-Clark Transaction as a secured
financing transaction and find that Rep-Clark has a security
interest in the proceeds of the Valuable Minerals as a result, the
Debtors made the Adequate Protection Offer . . . to add 3,000,000
tons of gypsum (with an aggregate net market value of $23,760,000)
to the Required Additional Reserves in the Negative Pledge (for an
aggregate of 13,000,000 tons)."

The Debtor's Motion is scheduled for hearing on April 27, 2021 at
9:30 a.m.

A full-text copy of the Amended Motion for Order Authorizing
Debtors to Use Rep-Clark, LLC's Cash Collateral is available for
free at https://tinyurl.com/vwmzvtfb from PacerMonitor.com.

                  About Gypsum Resources Materials

Based in Las Vegas, Gypsum Resources Materials, LLC, a privately
held company in the gypsum mining business, and its affiliate
Gypsum Resources, LLC filed voluntary petitions for relief under
Chapter 11 of the Bankruptcy Code (Bankr. D. Nev. Lead Case No.
19-14799) on July 26, 2019. The petitions were signed by James M.
Rhodes, president of Truckee Springs Holdings, LLC, manager of
Gypsum Resources, LLC.

At the time of the filing, Gypsum Resources Materials was estimated
to have $10 million to $50 million in both assets and liabilities.
Gypsum Resources, LLC was estimated to have $50 million to $100
million in both assets and liabilities.

The Debtors tapped Fox Rothschild LLP as bankruptcy counsel; Hill
Farrer & Burrill LLP as special counsel; and Conway MacKenzie, Inc.
as financial advisor.

The U.S. Trustee for Region 17 appointed creditors to serve on the
official committee of unsecured creditors on Aug. 30, 2019.  The
committee is represented by Goldstein & McClintoc, LLLP.



H.R.P. II: Gets OK to Hire A&G Realty Partners as Auctioneer
------------------------------------------------------------
H.R.P. II, LLC, received approval from the U.S. Bankruptcy Court
for the Northern District of Indiana to hire A&G Realty Partners,
LLC.

The Debtor requires the services of an auctioneer in connection
with the sale of its property located at 1717 Summer St., Hammond,
Ind.

A&G will receive a commission of 4 percent of the gross sale
proceeds from the buyer's premium paid by the purchaser of the
property.

The Debtor and its affiliate, H.R.P., LLC, will pay A&G up to
$15,000 for the marketing expenses and any additional expenses
incurred by the firm.

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

The firm can be reached through:

     Jamie Cote
     A&G Realty Partners, LLC
     2803 Butterfield Road, Suite 300
     Oak Brook, IL 60523
     Direct Dial: 630-954-7444
     Mobile: 312-203-6321‬
     Email: jcote@agrep.com

                     About H.R.P. II LLC

H.R.P. II, LLC, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Ind. Case No. 17-21695) on June 15,
2017.  At the time of the filing, the Debtor was estimated to have
assets of less than $1 million and liabilities of less than
$500,000.  

Fox Rothschild LLP is the Debtor's bankruptcy counsel.

On Sept. 11, 2020, Judge James R. Ahler, the bankruptcy judge
overseeing the case, confirmed the Debtor's Chapter 11 plan.


H.R.P. II: Gets OK to Hire McColly Real Estate as Broker
--------------------------------------------------------
H.R.P. II, LLC, received approval from the U.S. Bankruptcy Court
for the Northern District of Indiana to hire McColly Real Estate as
its broker.

The Debtor requires a real estate broker to assist with the auction
of its property located at 1717 Summer St. Hammond, Ind.  

McColly's services will include direct engagement with potential
bidders and facilitating due diligence activities such as site
visits.  Jeff Bennett and Joel Henderson of McColly will be
co-listing agents.

The firm will receive a 4 percent commission from a portion of the
buyer's premium paid by the purchaser of the property.  It will not
seek reimbursement of marketing expenses.

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

The firm can be reached through:

     Jeff Bennett
     McColly Real Estate
     29 Heritage Drive
     Bourbonnais, IL 60914
     Cell: 815-922-6505
     Office: 815-929-9381
     E-mail: jbennett@mccolly.com

        -- and --

     Joel Henderson
     McColly Real Estate
     850 Deer Creek Drive
     Schererville, IN 46375
     Cell: 219-808-9635
     Office: 219-736-0014
     Fax: 219-736-0134
     E-mail: Joel.Henderson@mccolly.com

                      About H.R.P. II LLC

H.R.P. II, LLC sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. N.D. Ind. Case No. 17-21695) on June 15, 2017.  At the
time of the filing, the Debtor was estimated to have assets of less
than $1 million and liabilities of less than $500,000.  

Fox Rothschild LLP is the Debtor's bankruptcy counsel.

On Sept. 11, 2020, Judge James R. Ahler, the bankruptcy judge
overseeing the case, confirmed the Debtor's Chapter 11 plan.


HALS REALTY: Trustee Taps Berger and Fisher as Special Counsel
--------------------------------------------------------------
Michael Goldberg, the Chapter 11 trustee for Hals Realty Associates
Limited Partnership, seeks approval from the U.S. Bankruptcy Court
for the Southern District of Florida to retain Berger Singerman LLP
and Fisher Potter Hodas, PLLC as his special litigation counsel.

The trustee needs the firms' legal assistance to investigate and,
if appropriate, pursue claims or causes of action against third
parties.

The firms will earn 30 percent fee with respect to litigation
claims relating to those entities, which settle prior to filing a
suit; 35 percent fee with respect to litigation claims relating to
those entities, which the firms do file an adversary proceeding;
and 37.5 percent fee with respect to the litigation claims relating
to those entities, which the firms pursue or defend an appeal.

Paul Steven Singerman, Esq., a partner at Berger Singerman, and
Jeffrey Fisher, Esq., a member of Fisher Potter Hodas, disclosed in
court filings that the firms do not hold or represent an interest
adverse to the Debtor and its estate.

The firms can be reached through:

     Paul Steven Singerman, Esq.
     Berger Singerman LLP
     1450 Brickell Avenue, Ste. 1900
     Miami, FL 33131
     Tel: (305) 755-9500
     Fax: (305) 714-4340
     Email: singerman@bergersingerman.com

       - and -

     Jeffrey D. Fisher, Esq.
     Fisher Potter Hodas, PLLC
     515 N Flagler Dr # 800
     West Palm Beach, FL 33401
     Phone: +1 561-832-1005

                 About of Hals Realty Associates

Hals Realty Associates Limited Partnership sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No.
20-13103) on March 5, 2020.  At the time of the filing, the Debtor
had estimated assets of between $1 million and $10 million and
liabilities of between $10,000,001 and $50 million.  

Judge Mindy A. Mora oversees the case.  

Furr and Cohen, P.A. is the Debtor's legal counsel.

Michael Goldberg is the trustee appointed in the Debtor's Chapter
11 case.   The trustee tapped Akerman LLP as his bankruptcy counsel
and Berger Singerman LLP and Fisher Potter Hodas, PLLC as his
special litigation counsel.


HERTZ CORP: Gets Court Approval to Sell Donlen to Athene
--------------------------------------------------------
Alex Wolf of Bloomberg Law reports that Hertz Corp. won court
approval to sell its leasing unit, Donlen Corp., to affiliates of
Apollo Global Management Inc. for $875 million.

The sale to Athene Holding Ltd., which could net Hertz up to $900
million in closing adjustments, is the most value it can get "under
the circumstances," according to a company court filing.

The bankrupt car rental giant canceled an auction for the unit last
month after no other qualified bids emerged.

Judge Mary K. Walrath of the U.S. Bankruptcy Court for the District
of Delaware approved the sale Monday, March 1, 2021, during a
virtual hearing, counsel for Hertz said.

                       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.  They also operate 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 for
the District of Delaware (Bankr. D. Del. Case No. 20-11218).

Judge Mary F. Walrath oversees the cases. The Debtors have tapped
White & Case LLP as their bankruptcy counsel, Richards, Layton &
Finger, P.A. as local counsel, Moelis & Co. as investment banker,
and FTI Consulting as financial advisor. The Debtors also retained
the services of Boston Consulting Group to assist the Debtors in
the development of their business plan. Prime Clerk LLC is the
claims agent.

The U.S. Trustee for Regions 3 and 9 appointed a Committee to
represent unsecured creditors in Debtors' Chapter 11 cases. The
Committee has tapped Kramer Levin Naftalis & Frankel LLP as its
bankruptcy counsel, Benesch Friedlander Coplan & Aronoff LLP as
Delaware counsel, UBS Securities LLC as investment banker, and
Berkeley Research Group, LLC as financial advisor.  Ernst & Young
LLP provides audit and tax services to the Committee.


HILLENBRAND INC: Fitch Rates $350MM Unsec. Notes Due 2031 'BB+'
---------------------------------------------------------------
Fitch Ratings has assigned a 'BB+'/'RR4' rating to Hillenbrand,
Inc.'s (HI) $350 million of 3.75% senior unsecured notes due in
2031. The proceeds will be used for general corporate purposes,
including partial repayment of the term loan. Fitch currently rates
HI's Long-Term Issuer Default Rating (IDR) 'BB+', and senior
unsecured notes, revolver and term loans at 'BB+'/'RR4'. The Rating
Outlook is Negative. HI had $1.4 billion of debt outstanding as of
Dec. 31, 2020.

KEY RATING DRIVERS

Business Stabilizing: HI generated positive organic revenue growth
in the first quarter of fiscal 2021 (ended December) driven by
higher casket sales, which will likely reverse as the pandemic
subsides, and growth at Milacron offsetting lower sales at the in
the advanced process solutions segment. This follows an organic
sales decline in fiscal 2020 (ended September) due to the negative
effect of the coronavirus pandemic.

Negative Outlook: The Negative Outlook reflects heightened risk
levels over the balance of 2021, the potential for challenges in
integrating Milacron, given its size, and the risk of an uneven
recovery in plastic equipment markets. The ratings could be
downgraded if recently-improved financial results are not
sustained. The Rating Outlook could be revised to Stable if HI
integrates Milacron effectively and the business enjoys a sustained
recovery over 2021-2022.

Higher Financial Leverage: HI's financial leverage (gross
debt/EBITDA) improved to 2.8x at December 2020 from a pro forma
3.6x at the end of fiscal 2020, due to EBITDA growth and debt
reduction. Fitch expects leverage to improve to the mid-2.0x range
in fiscal 2021 as the company captures synergies from the
integration of Milacron and repays additional debt. While the
company has been in a deleveraging mode since its November 2019
acquisition of Milacron, Fitch expects management could begin to
direct FCF and asset sale proceeds toward bolt-on acquisitions and
share repurchases.

Stronger Presence in Plastics: HI acquired Milacron for $1.9
billion including assumed debt, financing the acquisition with a
combination of debt and HI shares. The acquisition of Milacron
significantly enhances HI's presence in the plastics forming
equipment sector given its strong position in downstream melt
delivery and control systems, and injection molding and extrusion
equipment, that complement HI's presence in compounding and
extruding machines and material handling equipment. The transaction
should be modestly accretive to margins, and HI expects to generate
cost synergies of $75 million over three years.

Higher Cyclicality: The acquisition increases HI's exposure to the
cyclical plastics industry, which Fitch estimates will represent
63% of HI's sales pro forma for the acquisition, up from 42%, while
reducing the proportion of its sales of caskets, which have grown
during the pandemic but are in a gradual secular decline, to 20%
from 31%.

Strengths and Concerns: The ratings incorporate HI's positive FCF,
relatively conservative financial strategy notwithstanding the
Milacron acquisition, and broad customer and geographic base.
Rating concerns include the company's modest scale in certain
sectors, cyclical end markets, operating risks associated with
diversifying into adjacent product markets and geographies, and
declining industry trends at Batesville.

DERIVATION SUMMARY

HI is a diversified manufacturer that participates in a variety of
end markets, each of which has a different set of competitors. The
Timken Company (BBB-/Stable) and Kennametal Inc. (BBB/Negative) are
other diversified manufacturers. Timken is moderately larger than
HI, pro forma for the acquisition of Milacron, while Kennametal is
smaller, and both generate EBITDA margins that are broadly in line
with HI's industrial operations. HI's financial leverage is higher
than that of Kennametal and Timken, which is also in a deleveraging
mode following acquisitions.

HI's Batesville segment serves the niche death-care market and is
in a long-term secular decline, although it provides an element of
stability to the company's results and a boost to its consolidated
margins. No Country Ceiling, parent-subsidiary or operating
environment aspects impact the rating.

KEY ASSUMPTIONS

Fitch's key assumptions within its rating case for the issuer
include:

-- Sales grow in the high single digits in fiscal 2021 due to a
    recovery at Milacron, healthy growth at Batesville and a
    modest decline at advanced process solutions due to
    divestitures;

-- The EBITDA margin improves to around 19% in fiscal 2021 driven
    by expected synergies and operating leverage;

-- FCF after dividends of around $200 million in fiscal 2021;

-- Debt/EBITDA improves to the mid-2.0x in fiscal 2021.

RATING SENSITIVITIES

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

-- HI achieves more scale and diversity within its industrial
    business offsetting ongoing declines at Batesville;

-- Gross debt/EBITDA and FFO leverage improve to below 2.25x and
    3.25x, respectively.

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

-- Gross debt/EBITDA and FFO leverage remaining above 2.75x and
    3.75x, respectively;

-- FCF margin below 4%-6%;

-- A sustained decline in the EBITDA margin to below 15%;

-- Deterioration in Batesville's revenue and cash flow.

BEST/WORST CASE RATING SCENARIO

International scale credit ratings of Non-Financial Corporate
issuers have a best-case rating upgrade scenario (defined as the
99th percentile of rating transitions, measured in a positive
direction) of three notches over a three-year rating horizon; and a
worst-case rating downgrade scenario (defined as the 99th
percentile of rating transitions, measured in a negative direction)
of four notches over three years. The complete span of best- and
worst-case scenario credit ratings for all rating categories ranges
from 'AAA' to 'D'. Best- and worst-case scenario credit ratings are
based on historical performance.

LIQUIDITY AND DEBT STRUCTURE

Adequate Liquidity: Liquidity was adequate at Dec. 31, 2020 and
included $266 million of cash plus $830 million in borrowing
capacity under HI's $900 million revolving credit facility maturing
in August 2024. Liquidity is further supported by projected FCF
after dividends of $100 million-$200 million annually.

The company had $1.4 billion of debt outstanding as of Dec. 31,
2020, composed of $63 million drawn on the revolver, $866 million
of senior unsecured notes and $467 million outstanding on a term
loan due in 2024. All of the debt is senior unsecured and benefits
from upstream guarantees by material domestic subsidiaries.

ESG CONSIDERATIONS

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


HOLLISTER CONSTRUCTION: Can Use Cash Collateral Until March 12
--------------------------------------------------------------
Judge Michael B. Kaplan of the U.S. Bankruptcy Court for the
District of New Jersey entered a Thirty-Seventh Interim Order
authorizing Hollister Construction Services, LLC to use cash
collateral on an interim basis, through March 12, 2021.

As of the Petition Date, the Debtor is indebted to PNC Bank in the
total amount of $15,321,371.10, consisting of:

     (a) $14,012,345.53, pursuant to a Prepetition Line of Credit
         with an outstanding principal amount of $14,000,000; and

     (b) $1,309,025.57, pursuant to a Prepetition Term Loan with
         an outstanding principal amount of $1,306,666.
         
The Secured Obligations were secured by a valid, perfected, and
enforceable and non-avoidable first priority security interest and
lien granted by the Debtor to PNC upon the Collateral.

"The Debtor does not have sufficient unencumbered cash or other
assets to continue to operate its business during the Chapter 11
Case or to effectuate a reorganization.  The Debtor will be
immediately and irreparably harmed if it is not immediately granted
the continued authority to use PNC's Cash Collateral in order to
permit, among other things, the continuation of its business, the
ability to fund payroll and other taxes, the maintenance of their
relations with vendors and suppliers, satisfaction of their working
capital needs, as well as the ability to pay for inventory,
supplies, overhead, insurance and other necessary expenses and pay
any statutory fees pursuant to 28 U.S.C. Section 1930(a)(6).  The
access of the Debtor to sufficient working capital and liquidity
made available through the use of PNC's Cash Collateral is vital to
the preservation and maintenance of the going concern value of the
Debtor and to a successful reorganization of the Debtor," Judge
Kaplan said.

The Debtor was allowed to use PNC's Cash Collateral for, among
other things, (i) working capital requirements, (ii) general
corporate purposes, and (iii) certain costs and expenses related to
the administration of the Chapter 11 Case (including making
adequate protection payments and paying any statutory fees pursuant
to 28 U.S.C. Section 1930(a)(6)), in each case, pursuant to and
solely in accordance with the cash collateral budget.

As adequate protection for (i) the Debtor's post-petition use of
PNC's Cash Collateral, (ii) the Debtor's postpetition use, sale or
ease of the Prepetition PNC Collateral, and (iii) the imposition of
the automatic stay, PNC was granted a replacement security interest
in and lien on all post-petition assets of the Debtor, but solely
to the extent of any actual diminution in the value of the PNC
Prepetition Collateral, and to the extent and with the same
priority in the Debtor's post-petition collateral, and proceeds
thereof, that PNC had in the Debtor's Prepetition PNC Collateral.

To the extent the adequate protection provided would be
insufficient to protect PNC's interest in and to the Cash
Collateral, PNC will have a superpriority administrative expense
claim pursuant to Section 507(b) of the Bankruptcy Code, senior to
any and all claims against the Debtor under Section 507(a) of the
Bankruptcy Code, subject to statutory fees pursuant to 28 USC
1930(a)(6).

As further adequate protection PNC will be entitled to (i) interest
on account of the outstanding Secured Obligations, which shall
accrue at the non-default rate of interest in accordance with the
amounts, time and manner set forth in the Prepetition PNC Credit
Documents, and (ii) the reasonable and documented fees, costs and
expenses incurred by PNC after the Petition Date, including, but
not limited to, attorneys' fees and expenses, which shall also
accrue in accordance with the amounts, time and manner set forth in
the Prepetition PNC Credit Documents.

Pursuant to the Court's Thirty-Seventh Interim Order, the
occurrence of the following events, unless waived in writing by
PNC, will constitute an event of default:

     (a) the Debtor's continued use of PNC's Cash Collateral
         after the Termination Date without the written consent
         of PNC;

     (b) the Debtor's failure to (i) comply with the Budget and
         related reporting requirements, or (ii) perform, in any
         material respect, any of its obligations under the
         Thirty-Seventh Interim Order;

     (c) except as otherwise permitted, the Debtor obtaining
         post-petition credit or incurring post-petition
         indebtedness that is (i) secured by a security interest,
         mortgage or lien on all or any portion of the
         Prepetition PNC Collateral which is equal to or senior
         to, any security interest, mortgage or lien of PNC, or
         (ii) entitled to priority administrative status which is
         equal to or senior to that granted to PNC;

     (d) any lien or security interest purported to be created
         under the Prepetition PNC Credit Documents shall cease
         to be, shall be asserted by the Debtor not to be, or
         shall otherwise be determined by the Bankruptcy Court
         not to be a valid and perfected lien on or security
         interest in any Prepetition PNC Collateral, with the
         priority required by the Prepetition PNC Credit
         Documents or the provisions of the Thirty-Seventh
         Interim Order;

     (e) dismissal of the Chapter 11 Case, conversion of the
         Chapter 11 Case to chapter 7, or the appointment of a
         chapter 11 trustee or examiner with expanded powers in
         the case;

     (f) an order shall be entered staying, reversing, vacating,
         amending, or rescinding any of the terms of the Thirty
         -Seventh Interim Order without the consent of PNC;

     (g) the entry of an order or judgment by this Court or any
         other court: (i) modifying, limiting, subordinating, or
         avoiding the priority of the obligations of the Debtor
         under the Thirty-Seventh Interim Order, the obligations
         of the Debtor under the Prepetition PNC Credit
         Documents, or the perfection, priority, or validity of
         the Prepetition PNC Liens, or the Adequate Protection
         Lien; (ii) imposing, surcharging, or assessing against
         PNC's claims or the Prepetition PNC Collateral, any
         costs or expenses, whether pursuant to section 506(c) of
         the Bankruptcy Code or otherwise; (iii) impairing PNC's
         right to credit bid; and (iv) authorizing the obtaining
         of post-petition credit or the incurrence of
         postpetition indebtedness that is secured by a security
         interest, mortgage, or other lien on all or any portion
         of the Prepetition PNC Collateral which is equal to or
         senior to any security interest, mortgage, or other lien
         of PNC, or entitled to administrative expense priority
         status which is equal or senior to that granted to PNC;

     (h) the sale of any material portion of the Debtor's assets
         outside of the ordinary course of business without the
         prior written consent of PNC, unless, as a result of the
         sale, PNC is paid in full;

     (i) any proceeds of any sale or other disposition of the
         Prepetition PNC Collateral are not paid over to PNC
         despite a requirement to do so in the Thirty-Seventh
         Interim Order, unless otherwise previously agreed to by
         PNC in writing, in its sole discretion; or

      (j) any of PNC's Cash Collateral is used, whether or not
         pursuant to Court order, in a manner prohibited by the
         Thirty-Seventh Interim Order, including Paragraph 10
         hereof unless otherwise agreed to by PNC.

Further interim hearing on the Debtor's Motion is scheduled for
April 11, 2021 at 10 a.m.

A full-text copy of the Thirty-Seventh Interim Order (I)
Authorizing the Use of Cash Collateral, (II) Granting Adequate
Protection, (III) Scheduling a Final Hearing and, (IV) Granting
Related Relief, dated February 25, 2021, is available for free at
https://tinyurl.com/rhsf33wv from Primeclerk.com.

            About Hollister Construction Services LLC

Hollister Construction Services, LLC -- http://www.hollistercs.com/
-- is a full service commercial construction company with a team of
150+ construction professionals.  The Company's specialties include
interior and exterior renovations, building additions, and ground
up construction.  Hollister's areas of expertise include the
construction of corporate, education, healthcare, industrial,
retail, and residential projects.

Hollister Construction sought Chapter 11 protection (Bankr. D.N.J.
Lead Case No. 19-27439) on Sept. 9, 2019, in Trenton, New Jersey.

In the petition signed by Brendan Murray, president, the Debtor was
estimated to have $100 million to $500 million in assets and
liabilities of the same range.

The Hon. Michael B. Kaplan oversees the case.

The Debtor tapped Lowenstein Sandler as counsel; SM Law PC, as
special counsel; 10X CEO Coaching, LLC, as restructuring counsel;
and The Parkland Group, Inc., as business consultant.  Prime Clerk
serves as claims agent.



HORIZON THERAPEUTICS: Upsized Loan No Impact on Moody's Ba2 CFR
---------------------------------------------------------------
Moody's Investors Service commented that the upsized term loan of
Horizon Therapeutics USA, Inc., a subsidiary of Horizon
Therapeutics plc (collectively "Horizon") is modestly credit
negative on higher financial leverage. However the company's
ratings including the Ba2 Corporate Family Rating, the Ba2-PD
Probability of Default Rating, the Ba1 senior secured rating and
Ba3 senior unsecured rating are unaffected, and the outlook remains
unchanged at stable.


IMAGEWARE SYSTEMS: Appoints Lauren Anderson as Director
-------------------------------------------------------
ImageWare Systems, Inc. appointed Lauren C. Anderson to serve as a
director on the Board of Directors of the Company.

Ms. Anderson is the founder and chief executive officer of LC
Anderson International Consulting, founded in 2013.  Ms. Anderson,
a former Federal Bureau of Investigation senior executive, has a
background in high risk, complex, domestic, and international
environments and currently serves as an advisor to the U.S.
Comptroller General at the Government Accountability Office on
international security, intelligence, criminal justice, law
enforcement, and women's leadership.  Ms. Anderson also serves as
an advisor and special skilled role player for the U.S. Army, and
she is an advisor with Stellar Solutions.  Ms. Anderson worked in
various leadership roles for the FBI from February 1984 until
December 2012, and was the FBI Legal Attache at United States
Embassies in France and Morocco from March 2002 through November
2006.  Ms. Anderson holds numerous professional awards and
certifications, including achievement awards from the Director of
National Intelligence, Legal Momentum, LIM College and Muhlenberg
College.  She is a member of the Council on Foreign Relations, a
director emeritus for the Women's Forum of NY, served as a judge
for the Women's Safety XPrize and the Stevie Awards, and is a
mentor with the Women's Foreign Policy Group and Girl Security.
She holds a security clearance and numerous certifications with the
United States government.  Ms. Anderson has an Honorary Doctorate
of Humane Letters, awarded in 2019, by LIM College, New York City,
a Bachelor of Arts in Psychology from Muhlenberg College, in
Allentown, Pennsylvania, and completed executive programs at each
of Harvard Business School, Northwestern University's Kellogg
School of Management, Cambridge Judge Business School, and the
George C. Marshall European Center for Security Studies in
Garmisch, Germany.

Ms. Anderson will serve on the Board of Directors until the next
annual meeting of shareholders of the Company, or until her
successor is elected and qualified.  As compensation as an
independent director, she will receive (a) a $30,000 annual cash
retainer, payable in equal monthly installments in cash or shares
of the Company's common stock, par value $0.01 per share; (b) an
initial grant of options to purchase that number of shares of
Common Stock equal to $60,000 divided by the fair market value of
the Company's Common Stock as determined on the date of grant as
reported on the OTC Markets, the exercise price of which shall be
such fair market value, which Initial Grant shall vest one-third
(1/3rd) on the first anniversary of the Effective Date, and the
remaining two-thirds (2/3rd) shall vest ratably on the second and
third anniversary of the Effective Date; (c) reimbursement for
expenses related to Board of Director meeting attendance and
Committee participation; and (d) beginning on the first anniversary
of the Effective Date, and on each annual anniversary thereafter
(unless revised by the Board of Directors), an option to purchase
that number of shares of Common Stock equal to $30,000 divided by
the fair market value of the Company's Common Stock as determined
on the date of grant as reported on the OTC Markets, the exercise
price of which shall be such fair market value.  The Initial Grant
and Annual Grant shall contain such other terms and conditions as
are customary for director grants and approved by the Board of
Directors, including immediate vesting of all unvested options
effective upon a change in control of the Company.

                          About ImageWare Systems

Headquartered in San Diego, CA, ImageWare Systems, Inc. --
http://www.iwsinc.com-- is a developer of mobile and cloud-based
identity management solutions, providing two-factor, biometric and
multi-factor cloud-based authentication solutions for the
enterprise.  The company delivers next-generation biometrics as an
interactive and scalable cloud-based solution.  ImageWare brings
together cloud and mobile technology to offer two-factor,
biometric, and multi-factor authentication for smartphone users,
for the enterprise, and across industries.  The Company's products
are used to manage and issue secure credentials, including national
IDs, passports, driver licenses and access control credentials.

ImageWare recorded a net loss available to common shareholders of
$17.25 million for the year ended Dec. 31, 2019, compared to a net
loss available to common shareholders of $16.46 million for the
year ended Dec. 31, 2018.  As of Sept. 30, 2020, the Company had
$9.38 million in total assets, $12.91 million in total liabilities,
$9.40 million in series C convertible redeemable preferred stock,
and a total shareholders' deficit of $12.92 million.

Mayer Hoffman McCann P.C., in San Diego, California, the Company's
auditor since 2011, issued a "going concern" qualification in its
report dated May 15, 2020 citing that the Company does not generate
sufficient cash flows from operations to maintain operations and,
therefore, is dependent on additional financing to fund operations.
These conditions raise substantial doubt about the Company's
ability to continue as a going concern.


INGLESIDE AT KING FARM: Fitch Alters Outlook on 2017 Debt to Stable
-------------------------------------------------------------------
Fitch Ratings has affirmed the 'B-' rating on the following bonds
issued by the Mayor and Council of Rockville, MD (Rockville) on
behalf of King Farm Presbyterian Retirement Community, Inc. d/b/a
Ingleside at King Farm (IKF):

-- $48.9 million economic development refunding revenue bonds,
    series 2017A-1;

-- $23.8 million economic development refunding revenue bonds,
    series 2017A-2;

-- $84.8 million economic development revenue bonds, series
    2017B;

The Rating Outlook is revised to Stable from Negative.

SECURITY

The bonds are secured by a pledge of and lien on the obligated
group's (OG) gross revenues, a mortgage lien on the community and a
debt service reserve.

KEY RATING DRIVERS

LIQUIDITY STRESS EASES: The Affirmation of the rating and the
Outlook revision to Stable reflect IKF's improved liquidity
position. The previously assigned Negative outlook reflected
Fitch's concern that IKF's unrestricted liquidity could decline
further, after dropping to $6.6 million at March 31, 2020 from
approximately $11 million at YE 2019. Potential pressures in 2020
on liquidity included entrance fee refunds coming due for residents
who aged out of a skilled nursing facility (SNF) but whose
independent living (IL) units had already been resold, added
operational stress caused by the coronavirus pandemic and the
paydown of the short-term debt associated with IKF's campus
repositioning project.

IKF was able to sell enough Gardenside IL expansion units to
paydown the remaining short-term debt by October 2020
(approximately $83.8 million in total bond principal payments were
made in 2020). IKF's operational performance provided sufficient
cushion to manage through the IL refunds. As a result, IKF's
unrestricted cash and investments improved to $9.5 million by Jan.
31, 2021. The 'naked' refunds (refunds owed to residents in SN
whose apartments are already sold with no future revenue to offset
the refund liability) remain a concern. There is approximately $5.9
million recorded as a long-term liability as of Jan. 31, 2021
related to these refunds. However, IKF's improving cash flow,
additional liquidity from the sale proceeds of the remaining
Gardenside units (approximately 17 units remain unsold), and other
unused project bond funds are expected to keep unrestricted
liquidity stable. Further improvement in unrestricted liquidity
over the next year will depend on overall financial performance and
the velocity of the Gardenside sales.

PROJECTS CONTINUE TO FILL: At the end of January 2021, IKF had
filled 103 of the 120 Gardenside IL apartments. IKF is targeting to
reach 96% occupancy (approximately 116 apartments sold) by late
fall 2021 and the proceeds from those sales will accrete to the
balance sheet. Occupancy in the new memory care (MC)/assisted
living (AL) unit was more challenged at 40.8%. IKF is budgeting to
slowly build the MC census over the next year and plans to hold a
16-room floor offline until there is enough demand. Skilled nursing
facility (SNF) occupancy continues to be challenged as well, with
occupancy at 41%. IKF is budgeting for SNF occupancy in the high
40% range for 2021. IKF has engaged a consultant to review health
care services to improve performance. However, total IL occupancy,
which was at 91% at Jan. 31, 2021, has sustained the community's
overall operational performance despite the lower occupancy in the
other continuum of care service lines.

DEBT SERVICE AND DCOH VIOLATION EXPECTED: IKF will violate its debt
service coverage covenant (on the current debt service of $3.5
million) and its days cash on hand (DCOH) covenant in 2020. The
debt service violation is due to negative net entrance fees
receipts, which is the second time in three years IKF's net
entrance fee receipts have been negative. Entrance fees have been
pressured by refunds for first generation residents, who have 100%
refundable contracts. Further pressure in 2020 was due to marketing
and sales disruptions caused by the coronavirus pandemic, including
state-mandated restrictions in place that limited the access to
senior living campuses for most of the spring. Revenue-only
coverage was good at 2x (as calculated by Fitch), reflecting the
solid IL occupancy, but the negative entrance fee receipts drove
coverage to below the 1.2x covenant. Despite YE liquidity growth,
IKF's DCOH remained below the 150 day covenant. IKF is in
discussion with bondholders about the debt service and DCOH
covenant breaches.

VERY ELEVATED DEBT POSITION: IKF's debt load remains elevated. At
Dec. 30, 2020, IKF had approximately $142 million in long-term
debt. Cash-to-debt was very thin at 6.2% and maximum annual debt
service of $9.3 million was 27.9% of 2020 revenues (unaudited).
Debt metrics are expected to modestly moderate as the Gardenside
expansion reaches stabilized occupancy over the next two years. IKF
will not be tested on the $9.3 million MADS until 2022.

ASYMMETRIC RISK FACTORS: No asymmetric risk factors affected this
rating determination.

RATING SENSITIVITIES

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

-- Continued growth in unrestricted liquidity such that it
    stabilizes above $15 million in unrestricted liquidity;

-- Debt service coverage stabilizes above 1.3x.

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

-- A reversal in the current trend of performance such that
    unrestricted liquidity deteriorates to below $6 million;

-- With the expected debt service and DCOH violations, bondholder
    action that weakens IKF's unrestricted liquidity or financial
    profile.

BEST/WORST CASE RATING SCENARIO

International scale credit ratings of Sovereigns, Public Finance
and Infrastructure issuers have a best-case rating upgrade scenario
(defined as the 99th percentile of rating transitions, measured in
a positive direction) of three notches over a three-year rating
horizon; and a worst-case rating downgrade scenario (defined as the
99th percentile of rating transitions, measured in a negative
direction) of three notches over three years. The complete span of
best- and worst-case scenario credit ratings for all rating
categories ranges from 'AAA' to 'D'. Best- and worst-case scenario
credit ratings are based on historical performance.

CREDIT PROFILE

IKF is a type-C continuing care retirement community (CCRC) located
in Rockville, MD about 15 miles outside of Washington, D.C. that
opened in 2009 and achieved stabilized occupancy in 2012. It
currently offers 368 ILUs, 32 AL units, 32 MC/AL beds and 45 SNF
beds. Total operating revenues (unaudited) were $30.7 million in
fiscal 2020 (Dec. 31 YE). IKF is the only member of the OG.

IKF's parent company and sole corporate member is Westminster
Ingleside King Farm Presbyterian Retirement Communities, Inc.,
d/b/a Ingleside. Ingleside is also the sole member of two other
CCRCs, Ingleside at Rock Creek in Washington, D.C. and Westminster
at Lake Ridge (BB/Negative) in Lake Ridge, VA, as well as a
non-profit supporting foundation, a for-profit development arm and
non-profit home care service provider.

The outbreak of the coronavirus and rise in related government
containment measures worldwide have created an uncertain
environment for the entire health care system in the near term.
While IKF's financial performance through the most recently
available data has indicated some impairment as a direct result of
the pandemic, material changes in revenue and cost profiles will
continue to occur across the sector. Fitch's ratings are
forward-looking in nature, and Fitch will monitor developments in
the sector as a result of the virus outbreak as it relates to
severity and duration, and incorporate revised expectations for
future performance and assessment of key risks.

Stressed Financial Profile

The 'B-' rating indicates that material default risk is present,
but a limited margin of safety remains. IKF is meeting its
financial commitments; however, capacity for continued payment is
vulnerable to deterioration in the business and economic
environment. The revision of the Outlook to Stable reflects that
IKF's financial profile has stabilized after a period of extreme
stress, as IKF's unrestricted liquidity was at a thin $6.6 million
in March 2020, and there was concern it would fall to below $3
million in the latter half of 2020.

IKF managed through the period of stress and grew its unrestricted
liquidity to $9.5 million at Jan. 31, 2021. However, IKF's
financial profile remains very thin and vulnerable. Additionally,
two of the main stressors on unrestricted liquidity--entrance fee
refunds on 100% refundable contracts and entrance free refunds for
residents aging out of skilled nursing with no associated entrance
fee revenues as their apartments have already been sold--will
continue to weigh on IKF's financial performance over the next two
to three years. The stress on entrance fees receipts led to debt
service violations in two out of the last three years. The concern
is further heightened as IKF will begin to be tested on the higher
MADS of $9.3 million in 2022.

Fitch views the completion of IKF's sizable repositioning project
and the selling of enough Gardenside IL apartments to pay down the
full short-term project debt in 2020 as a positive development.
Additionally, the contract mix for the Gardenside apartments was in
line with the feasibility study, with approximately 88% of the
contracts higher priced refundable contracts. This funded a larger
entrance fee pool with which to pay down the short-term debt and
helped rebuild the balance sheet.

Fitch expects IKF's operational performance to improve in fiscal
2021 as IKF will benefit from revenues from the additional
Gardenside IL apartments, currently 103 filled units. IFK has about
35 unsold units across its campus and has targeted reaching 96%
occupancy by 4Q21, which would be accretive to IKF's operational
and financial profiles. Additionally, Fitch believes that although
MC/AL and SN currently have lower occupancies, IKF will be able
manage the costs in those service lines as the census is rebuilt
and IKF makes strategic decisions on the continuum of care service
lines.

Unaudited 2020 results show an operating ratio of 111.8% which was
a slight improvement over 2019 operating ratio of 113.5% and
includes $1.6 million of federal Payroll Protection Program funds
and $750,000 in Coronavirus Aid, Relief, and Economic Security
(CARES) Act funding. One-month 2021 results show a 101% operating
ratio, and Fitch believes an improved performance in 2021 is
achievable.

While unrestricted cash improved toward the end of 2020, IKF will
violate its DCOH covenant in 2020 as it ended the year at 106 days
(as calculated by Fitch), which is below the 150 days covenant.
DCOH improved to 120 days in January 2021, and IKF projects to be
above the covenant by the end of 2021.

DEBT PROFILE

IKF had total long-term debt of approximately $142.4 million at
Dec. 31, 2020, which is composed of the fixed-rate series 2017A-1,
series 2017A-2 and 2017B bonds.

ESG CONSIDERATIONS

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


INPIXON: Amends Nanotron Share Sale and Purchase Agreement
----------------------------------------------------------
Inpixon, through its wholly-owned subsidiary, Inpixon GmbH, a
limited liability company incorporated under the laws of Germany,
entered into an amendment to that certain Share Sale and Purchase
Agreement, dated as of Oct. 5, 2020, with Nanotron Technologies
GmbH, a limited liability company incorporated under the laws of
Germany, and Sensera Limited, a stock corporation incorporated
under the laws of Australia.  Pursuant to the Purchase Agreement,
on Oct. 6, 2020, the Purchaser acquired 100% of the outstanding
capital stock of Nanotron.

Pursuant to the Amendment, the parties agreed to the early release
of the holdback funds of $750,000, which was retained by the
Purchaser from the aggregate purchase price; however, in exchange
for such early release, such amount was reduced by $225,000.  In
addition, the holdback amount was further reduced by $29,890.24 in
connection with the working capital adjustment and by $29,266.50 in
connection with a claim related to a customer dispute.  As a
result, the Seller will receive holdback funds equal to
$465,843.26.

                             About Inpixon

Headquartered in Palo Alto, Calif., Inpixon (Nasdaq: INPX) is an
indoor intelligence company that specializes in capturing,
interpreting and giving context to indoor data so it can be
translated into actionable intelligence.  The company's indoor
location and data platform ingests diverse data from IoT,
third-party and proprietary sensors designed to detect and position
all active cellular, Wi-Fi, UWB and Bluetooth devices, and uses a
proprietary process that ensures anonymity.  Paired with a
high-performance data analytics engine, patented algorithms, and
advanced mapping technology, Inpixon's solutions are leveraged by a
multitude of industries to do good with indoor data.  This
multidisciplinary depiction of indoor data enables users to
increase revenue, decrease costs, and enhance safety.  Inpixon
customers can boldly take advantage of location awareness,
analytics, sensor fusion and the Internet of Things (IoT) to
uncover the untold stories of the indoors.

Inpixon reported a net loss of $33.98 million for the year ended
Dec. 31, 2019, compared to a net loss of $24.56 million for the
year ended Dec. 31, 2018.  As of Sept. 30, 2020, the Company had
$52.59 million in total assets, $13.12 million in total
liabilities, and $39.47 million in total stockholders' equity.

Marcum LLP, in New York, NY, the Company's auditor since 2012,
issued a "going concern" qualification in its report dated March 3,
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.


INTERPACE BIOSCIENCES: Accepted for Trading on OTCQX
----------------------------------------------------
Interpace Biosciences, Inc. has satisfied the requirements for
trading of the Company's common stock on the OTCQX Best Market and
began trading on OTCQX at the open of the market on Feb. 25, 2021
under the symbol IDXG.  The Company previously traded on Nasdaq.

"The cost-effectiveness and flexibility of the OTCQX provides our
Company the opportunity to continue to excel in the public markets.
We are excited about this new opportunity for our Company," stated
Tom Burnell, Interpace Bioscience's president and chief executive
officer.

"We are pleased to welcome Interpace Biosciences to the OTCQX
Market," said Jason Paltrowitz, executive vice president of OTC
Markets Group.  "The OTCQX market is designed to help companies
lower the cost and complexity of being publicly traded, while
providing investors with transparent trading.  We look forward to
supporting Interpace Biosciences and its shareholders."

OTCQX is the top tier of three markets organized by OTC Markets
Group Inc. for trading over-the-counter securities, and is designed
for established, investor-focused U.S. and international companies.
To qualify for the OTCQX market, companies must meet high financial
standards, follow best practice corporate governance, demonstrate
compliance with U.S. securities laws, and be current with their
disclosure.  Investors can find current market information and
real-time quotes for the Company on www.otcmarkets.com.

                      About Interpace Diagnostics

Headquartered in Parsippany, NJ, Interpace Biosciences f/k/a
Interpace Diagnostics Group, Inc. -- http://www.interpace.com--
offers specialized services along the therapeutic value chain from
early diagnosis and prognostic planning to targeted therapeutic
applications.  Clinical services, through Interpace Diagnostics,
provides clinically useful molecular diagnostic tests,
bioinformatics and pathology services for evaluating risk of cancer
by leveraging the latest technology in personalized medicine for
improved patient diagnosis and management.  Pharma services,
through Interpace Pharma Solutions, provides pharmacogenomics
testing, genotyping, biorepository and other customized services to
the pharmaceutical and biotech industries.

Interpace reported a net loss attributable to common stockholders
of $27.16 million for the year ended Dec. 31, 2019, compared to a
net loss attributable to common stockholders of $12.19 million for
the year ended Dec. 31, 2018.  As of Sept. 30, 2020, the Company
had $50.70 million in total assets, $25.96 million in total
liabilities, and $46.54 million in preferred stock, and $21.80
million total stockholders' deficit.

Interpace Biosciences stated in its Quarterly Report for the period
ended Sept. 30, 2020, that, "The Company has and may continue to
delay, scale-back, or eliminate certain of its activities and other
aspects of its operations until such time as the Company is
successful in securing additional funding.  The Company is
exploring various dilutive and non-dilutive sources of funding,
including equity and debt financings, strategic alliances, business
development and other sources.  In the event the Company's Common
Stock is delisted from Nasdaq due to its failure to meet minimum
stockholders' equity requirements, the Company's ability to raise
additional capital may be materially adversely impacted. In
addition, the Company's inability to use Form S-3 after it files
its Form 10-K for the fiscal year ended December 31, 2020 may have
an adverse impact on our ability to raise additional capital.  The
future success of the Company is dependent upon its ability to
obtain additional funding.  There can be no assurance, however,
that the Company will be successful in obtaining such funding in
sufficient amounts, on terms acceptable to the Company, or at all.
As of the date of this Report, the Company currently anticipates
that current cash and cash equivalents will be sufficient to meet
its anticipated cash requirements through the end of the second
quarter.  These factors raise substantial doubt about the Company's
ability to continue as a going concern."


INTERSTATE COMMODITIES: Gets OK to Hire The Vant Group as Broker
----------------------------------------------------------------
Interstate Commodities, Inc., received approval from the U.S.
Bankruptcy Court for the Northern District of New York to hire The
Vant Group to market for sale its intermodal business.

The Debtor runs an intermodal business in Amarillo, Texas, which
consists mostly of loading and unloading various containers from or
onto train cars for storage or rail shipment.

The Vant Group will be paid a 10 percent commission on the sale
price and a retainer of $30,000 to be applied towards the
commission once the business is sold.

As disclosed in court filings, The Vant Group is "disinterested"
within the meaning of Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Dirk Armbrust
     The Vant Group
     Georgetown Office Community
     17766 Preston Road
     Dallas, TX 75252
     Phone: 972.458.8989
     Email:  info@thevantgroup.com

                   About Interstate Commodities

Interstate Commodities Inc., a Troy, N.Y.-based company engaged in
the merchandise of commodities, filed a voluntary petition for
relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D.N.Y.
Case No. 20-11139 on Aug. 26, 2020.  Michael G. Piazza, chief
operating officer, signed the petition.  In the petition, the
Debtor disclosed $12,558,336 in assets and $25,513,305 in
liabilities.

Judge Robert E. Littlefield Jr. oversees the case.  

Forchelli Deegan Terrana, LLP, and Tabner, Ryan & Keniry, LLP,
serve as the Debtor's bankruptcy counsel and special counsel,
respectively.

The U.S. Trustee for Region 2 appointed an official committee of
unsecured creditors in the Debtor's case on Sept. 25, 2020.  The
committee is represented by Lemery Greisler, LLC.


ION GEOPHYSICAL: Inks First Amendment to Rights Agreement with BGP
------------------------------------------------------------------
ION Geophysical Corporation and BGP Inc., China National Petroleum
Corporation, entered into the First Amendment to the Investor
Rights Agreement dated of March 25, 2010.  The Amendment amends the
definition of the Investor Rights Termination Event, such that the
Investor Percentage Interest that can trigger such event is 5.0%,
rather than 10%.

                             About ION

Headquartered in Houston, Texas, ION -- http://www.iongeo.com-- is
an innovative, asset light global technology company that delivers
powerful data-driven decision-making offerings to offshore energy,
ports and defense industries.  The Company is entering a fourth
industrial revolution where technology is fundamentally changing
how decisions are made.  The Company provides its services and
products through two business segments - E&P Technology & Services
and Operations Optimization.

ION Geophysical reported a net loss of $37.11 million for the year
ended Dec. 31, 2020, compared to a net loss of $47.21 million on
$174.68 million for the year ended Dec. 31, 2019.  As of Dec. 31,
2020, the Company had $193.59 million in total assets, $264.68
million in total liabilities, and a total deficit of $71.09
million.

Houston, Texas-based Grant Thornton LLP, the Company's auditor
since 2014, issued a "going concern" qualification in its report
dated Feb. 11, 2021, citing that as of Dec. 31, 2020, the Company
had outstanding $120.6 million aggregate principal amount of its
9.125% Senior Secured Second Priority Notes, which mature on Dec.
15, 2021.  The Notes, classified as current liabilities, caused the
Company's current liabilities to exceed its current assets by
$150.9 million and its total liabilities exceeds its total assets
by $71.1 million.  These conditions, along with other matters,
raise substantial doubt about the Company's ability to continue as
a going concern.

On March 30, 2020, the Company received a notice from the New York
Stock Exchange that the Company is non-compliant with NYSE listing
standards because its average market capitalization over a
consecutive 30 trading-day period was less than $50.0 million at
the same time that its stockholders' equity was less than $50.0
million.  The Company submitted a plan to the NYSE to return to
compliance with their listing standards, which was accepted on June
19, 2020.  If the Company is unable to comply with its plan or
otherwise unable to meet the continued listing standard before by
Dec. 9, 2021, the Company will be subject to delisting from the
NYSE.

                               *    *    *

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


JUDGIN TRANSPORTATION: Taps David Freydin as Corporate Counsel
--------------------------------------------------------------
Judgin Transportation, Inc., received approval from the U.S.
Bankruptcy Court for the Northern District of Illinois to hire The
Law Offices of David Freydin as its corporate counsel.

The Debtor requires the firm's assistance in matters concerning
corporate restructuring, analysis of claims and potential causes of
action, and the preparation of a Chapter 11 plan.  

The firm's hourly rates range from $250 to $350.  The attorneys who
are expected to provide the services are:

     David Freydin          $350 per hour
     Jan Michael Hulstedt   $325 per hour  
     Emma Sloan             $250 per hour

The firm was paid an advance retainer in the amount of $8,000.

David Freydin, Esq., disclosed in a court filing that he and other
employees of the firm are "disinterested" within the meaning of
Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     David Freydin, Esq.
     The Law Offices of David Freydin
     8707 Skokie Blvd., Suite 305
     Skokie, IL 60077
     Tel: 888-536-6607
     Fax: 866-575-3765
     Email: david.freydin@freydinlaw.com

                  About Judgin Transportation

Judgin Transportation, Inc., is a freight shipping and trucking
company running freight hauling business from Illinois.

Judgin Transportation sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Ill. Case No. 21-00460) on Jan. 13,
2021.  At the time of the filing, the Debtor disclosed $735,020 in
assets and $2,090,229 in liabilities.

Gutnicki, LLP and the Law Offices of David Freydin serve as the
Debtor's bankruptcy counsel and corporate counsel, respectively.


JUDGIN TRANSPORTATION: Taps Gutnicki LLP as Bankruptcy Counsel
--------------------------------------------------------------
Judgin Transportation, Inc., received approval from the U.S.
Bankruptcy Court for the Northern District of Illinois to hire
Gutnicki, LLP as its bankruptcy counsel.

The firm's services include the preparation of a Chapter 11 plan,
negotiation with creditors, examination of claims, and prosecution
of adversary proceedings.

The firm's hourly rates range from $205 to $585.  Miriam Stein,
Esq., and Kara Allen, Esq., the firm's attorneys who will be
handling the Debtor's Chapter 11 case, will charge $400 per hour
and $320 per hour, respectively.

Ms. Stein disclosed in a court filing that she and other employees
of the firm are "disinterested" within the meaning of Section
101(14) of the Bankruptcy Code.

The firm can be reached through:

     Miriam Stein, Esq.
     Gutnicki, LLP
     4711 Golf Road, Suite 200
     Skokie, IL 60076
     Phone: (847) 745-6592
     E-mail: mstein@gutnicki.com

                    About Judgin Transportation

Judgin Transportation, Inc., is a freight shipping and trucking
company running freight hauling business from Illinois.

Judgin Transportation sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Ill. Case No. 21-00460) on Jan. 13,
2021.  At the time of the filing, the Debtor disclosed $735,020 in
assets and $2,090,229 in liabilities.

Gutnicki, LLP and the Law Offices of David Freydin serve as the
Debtor's bankruptcy counsel and corporate counsel, respectively.


KOSMOS ENERGY: Moody's Affirms B2 CFR & Rates Unsecured Notes Caa1
------------------------------------------------------------------
Moody's Investors Service changed Kosmos Energy Ltd.'s rating
outlook to stable from negative, and concurrently affirmed the
company's B2 Corporate Family Rating, B2-PD Probability of Default
Rating, and Caa1 senior unsecured notes. Moody's also assigned a
Caa1 rating to the company's proposed issuance of senior unsecured
notes due 2028.

"The stable outlook reflects higher oil price expectations for 2021
and Kosmos Energy's improved liquidity and funding position that
should allow it to sufficiently cover its significant capital
expenditures in 2021," said Sajjad Alam, Moody's senior analyst.

Assignments:

Issuer: Kosmos Energy Ltd.

Senior Unsecured Notes, Assigned Caa1 (LGD5)

Affirmations:

Issuer: Kosmos Energy Ltd.

Probability of Default Rating, Affirmed B2-PD

Corporate Family Rating, Affirmed B2

Senior Unsecured Notes, Affirmed Caa1 (LGD5)

Outlook Actions:

Issuer: Kosmos Energy Ltd.

Outlook, Changed To Stable From Negative

RATINGS RATIONALE

Kosmos Energy's B2 CFR reflects its elevated financial leverage,
high funding requirements for its Tortue LNG project, significant
principal amortization obligations through 2025, and an
increasingly complex capital structure. The rating also considers
the company's modest scale, deep-water-focused assets and the
attendant physical and operational risks, as well as the high level
of volatility and uncertainty surrounding oil prices that are
likely to persist through 2021. The CFR is supported by Kosmos
Energy's high-quality and oil-focused producing assets that have
low break-even costs and relatively low base decline rates,
balanced geographic exposure in West Africa and the US Gulf of
Mexico, a solid track record of organic and acquisition driven
growth and a visible pipeline of low risk development projects.

Kosmos Energy managed its liquidity position well in 2020 and
should have adequate liquidity through early-2022, which is
reflected in the SGL-3 rating. The company had $149 million of cash
and $420 million in combined availability under its corporate
revolver and RBL facility as of December 31, 2020. Moody's expects
the company to generate over $100 million of free cash flow from
its base businesses, excluding $350 million of capital expenditures
associated with the Tortue project, which will be financed with
proceeds from its FPSO sale-leaseback transaction and a separate
financing. The company has downside price protection through
hedging for roughly 60% of its projected 2021 production based on
the mid-point of its guidance. Through pro-active maturity
management the company has continued to improve its maturity
profile. The $400 million corporate revolver expires on May 31,
2022, while the $1.32 billion borrowing base reserve-based lending
(RBL) facility has a final maturity date of March 31, 2025. There
is ample headroom under the interest coverage covenant governing
the RBL facility, although the leverage covenant will likely get
tighter in 2022 if commodity prices fall significantly below
today's levels.

The unsecured notes are rated Caa1, two notches below the B2 CFR,
given their unsecured claim to the company's assets and their
subordinated position to term loan facility as well as to the RBL
facility with regards to a substantial portion of the company's
producing assets in West Africa.

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

The CFR could be downgraded if the borrowing base of the RBL
facility is significantly reduced materially weakening liquidity,
the company produces negative free cash flow from its base
businesses, or the RCF/debt ratio falls towards 10%. The CFR could
be upgraded if the company can reduce leverage and sustain the
debt/average daily production below 30,000/boe and the RCF/debt
ratio above 20% while maintaining good liquidity.

Kosmos Energy Ltd. is a Dallas, Texas based publicly traded
exploration and production company with assets in offshore West
Africa and the US Gulf of Mexico.

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


KUTTER GROUP: Gets OK to Hire Sanford Lea as Accountant
-------------------------------------------------------
Kutter Group Holdings, LLC, received approval from the U.S.
Bankruptcy Court for the Middle District of Florida to hire Sanford
Lea & Associates as its accountant.

The firm's services include the preparation of monthly operating
reports, accounting advice and the preparation of documents
necessary to obtain confirmation of the Debtor's Chapter 11 plan.

The firm will be paid at these rates:

     Staff Accounting and Bookkeeping     $125 per hour
     CPA Accounting and Consulting        $225 per hour
     Court Attendance and Testimony       $300 per hour

James Lea, the firm's accountant who will be providing the
services, disclosed in a court filing that he is a "disinterested
person" within the meaning of Section 101(14) of the Bankruptcy
Code.

Sanford Lea can be reached through:

     James Lea, CPA
     Sanford Lea & Associates
     1655 S. Enterprise Avenue, Suite B-4
     Springfield, MO 65804
     Phone: (417) 886-2220

                    About Kutter Group Holdings

Kutter Group Holdings, LLC, an Orlando, Fla.-based company that
owns and operates a pet store, filed its voluntary petition for
relief under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla.
Case No. 20-06971) on Dec. 23, 2020.  At the time of the filing,
the Debtor had estimated assets of less than $50,000 and
liabilities of between $1 million and $10 million.

Judge Karen S. Jennemann oversees the case.  

Bartolone Law, PLLC, and Sanford Lea & Associates serve as the
Debtor's legal counsel and accountant.


LANAI HOLDINGS III: Moody's Completes Review, Retains Caa2 CFR
--------------------------------------------------------------
Moody's Investors Service has completed a periodic review of the
ratings of Lanai Holdings III, Inc. and other ratings that are
associated with the same analytical unit. The review was conducted
through a portfolio review discussion held on February 23, 2021 in
which Moody's reassessed the appropriateness of the ratings in the
context of the relevant principal methodology(ies), recent
developments, and a comparison of the financial and operating
profile to similarly rated peers. The review did not involve a
rating committee. Since January 1, 2019, Moody's practice has been
to issue a press release following each periodic review to announce
its completion.

This publication does not announce a credit rating action and is
not an indication of whether or not a credit rating action is
likely in the near future. Credit ratings and outlook/review status
cannot be changed in a portfolio review and hence are not impacted
by this announcement.

Key rating considerations

Lanai Holdings III, Inc's Caa2 CFR is constrained by the company's
very high financial leverage and weak operating performance despite
some evidence of recent improvement. The rating is further
constrained by its modest scale, significant operational
challenges, and risks related to the coronavirus pandemic. The
rating is supported by Lanai's leadership in its niche distribution
market and a high portion of revenues from relatively stable,
repeat sales of low-cost consumable products. The rating also
benefits from favorable long-term industry dynamics, including
rising demand for rehabilitation products.

The principal methodology used for this review was Distribution &
Supply Chain Services Industry published in June 2018.  


LDG001 LLC: Southern Star Says Plan Not Feasible
------------------------------------------------
Southern Star Capital, LLC, objects to the Disclosure Statement of
debtor LDG001, LLC.

Southern Star was the original lender and is the current servicer
of two Notes and Deed of Trusts made to the debtor.  The notes are
fully secured by real estate.  The schedules of Debtor does not
schedule these properties as assets but mention the real property
in Johnson County, Texas.

Southern Star claims that the Debtor fails to disclose its loan
history with Southern Star, primarily that it only made 6 payments
since the inception of the loan.

Southern Star points out that the Debtor fails to disclose that
despite its goal of developing the Real Property, no work has been
performed on the Real Property to develop it since the loans were
made. In fact, the Real Property remains raw land.

Southern Star asserts that the Debtor provides no budget for
development and no source of funds or income to complete the
budget.  It is believed that the source of funds may be JMJ
Development, LLC which appears to have funded the adequate
protection payment and litigation expenses, and if so, Debtor has
failed to disclose that JMJ Development, LLC, through its own
records, claims as related companies which has multiple millions in
defaulted debt and is the backer behind numerous Chapter 11 plans
for related entities.

Southern Star further asserts that the Debtor fails to disclose
that it has several related companies that are also in default to
Southern Star and are currently in bankruptcy and that the
principal for all these companies, which appears to be JMJ
Development, LLC, is currently in default for $6,155,000 million in
loans just to Southern Star not to mention other entities.

Southern Star states that the Debtor has no income and has filed a
Plan that is not feasible.  It is believed that entities formed and
controlled by the potential funding are in default for multiple
millions of debt.

A full-text copy of Southern Star's objection dated Feb. 25, 2021,
is available at https://bit.ly/307lSPz from PacerMonitor.com at no
charge.

Attorney for Southern Star:

     Robert W. Buchholz
     Attorney at Law
     555 Republic Drive, Suite 490
     Plano, Texas 75074
     Tel: 214-754-5500
     Fax: 214-754-9100
     E-mail: bob@attorneybob.com

                        About LDG001 LLC

LDG001, LLC, is a single asset real estate debtor (as defined in 11
U.S.C. Section 101(51B)), which owns approximately 202 acres of
unimproved land located in Johnson County, Texas, near the city of
Venus, Texas.

On Oct. 5, 2020, LDG001 filed its voluntary petition for relief
under Chapter 11 of the Bankruptcy Court (Bankr. N.D. Tex. Case No.
20-43110).  LDG001 President Tim Barton signed the petition.  At
the time of filing, the Debtor was estimated to have $1 million to
$10 million in both assets and liabilities.  Judge Mark X. Mullin
oversees the case.  Joyce W. Lindauer Attorney, PLLC, serves as the
Debtor's legal counsel.


LEADVILLE CORP: Hutchins, Weepah Plans Set for April 22 Hearing
---------------------------------------------------------------
On Feb. 12, 2021, Scot Hutchins filed a Second Amended Disclosure
Statement for his Second Amended Plan of Liquidation for Leadville
Corporation dated February 12, 2021.

Also on Feb. 12, Weepah Holdings, LLC filed with the U.S.
Bankruptcy Court for the District of Colorado Second Amended
Disclosure Statement for Second Amended Plan of Reorganization for
the Debtor.

On Feb. 23, 2021, Judge Michael E. Romero approved the Disclosure
Statements and ordered that:

     * The Plan Proponents and all parties in interest may now
solicit acceptance or rejection of the Plans pursuant to 11 U.S.C.
Sec. 1125.

     * March 31, 2021 is fixed as the last day to submit Ballots
accepting or rejecting the Plans.

     * March 31, 2021 is fixed as the last day to file any
objection to confirmation of the Plans.

     * April 22, 2021, at 9:30 a.m. via Zoom videoconference is the
hearing for consideration of confirmation of the Plans.

A full-text copy of the order dated Feb. 23, 2021, is available at
https://bit.ly/3035WOf from PacerMonitor.com at no charge.

           About Leadville Corporation

Headquartered in Aurora, Colorado, Leadville Corporation was
organized in 1945 to acquire, explore and develop mining
properties, primarily in Lake and Park Counties, Colorado.

Alleged creditors, namely La Plata Mountain Resources, Inc., Salem
Minerals, Inc., and Black Horse Capital, Inc., filed an involuntary
petition against Leadville Corporation (Bankr. D. Colo. Case No.
17-21646) on Dec. 27, 2017.  The case is assigned to Judge Michael
E. Romero.

Leadville is reportedly indebted to the petitioning creditors: (a)
$7,501,738 to La Plata Mountain Resources, Inc., based upon
judgments it holds against the Debtor; (b) $14,766 to Black Horse
Capital, Inc. based upon tax liens it holds against the Debtor; and
(c) $17,311 to Salem Minerals, Inc., based upon tax liens it holds
against the Debtor.

The Petitioning Creditors are represented by Kenneth J. Buechler,
Esq., at Buechler & Garber, LLC.

Mr. Stephen Peters was appointed Chapter 11 trustee for the Debtor
on April 23, 2018.  The Trustee is represented by Wadsworth Warner
Conrardy, P.C.


LIGHTSTONE GENERATION: Moody's Lowers Secured Loans Rating to 'B1'
------------------------------------------------------------------
Moody's Investors Service has downgraded the rating on Lightstone
Generation LLC's ("Lightstone" or "Project") senior secured credit
facilities to B1 from Ba3. The credit facilities are comprised of a
$1,862 million term loan B due in 2024 (approx. $1,773 million
outstanding as of 9/30/20), a $100 million term loan C for cash
collateralized letters of credit due in 2024, and a $100 million
revolving credit facility due in 2022. The rating outlook remains
negative.

RATINGS RATIONALE

The rating action reflects the Project's continued weak financial
performance through the first nine months of 2020 and the
expectation that Lightstone will continue to underperform original
expectations during 2021 owing to weak power market fundamentals
caused by lower natural gas and power prices and lower generation
output, particularly at the coal-fired Gavin plant. Lightstone's
EBITDA for the twelve months ended 9/30/20 measured $234.1 million,
which was well below fiscal year 2019 results of $361.9 million and
below Moody's expectations for full year 2020 of $349.0 million
under Moody's original base case forecast. While some of the weaker
performance had been anticipated owing to lower PJM RTO capacity
revenue earned in 2020 relative to 2019, the Project's
underperformance was driven principally by lower energy margins
caused by weak power and natural gas prices, which impacted
economic dispatch at the important Gavin plant. While Lightstone's
hedging strategies provided some degree of mitigation through the
sale of spark swaps (i.e., selling power forward and buying
corresponding forward gas), it was not enough to offset the overall
energy margin decline.

As such, all of Lightstone's key financial metrics, which Moody's
calculates after major maintenance and changes in working capital,
were understandably lower than originally forecast. For example,
the debt service coverage ratio (DSCR) for the twelve months ended
9/30/20 measured 1.50x vs. our 2020 forecast of 2.28x; the ratio of
Debt to EBITDA was 7.57x vs. 4.59x in the Moody's case, and the
ratio of Project Cash Flow from Operations (CFO) to Debt for the
same period was 2.8% vs. 11.5% in the Moody's case. Moody's note
that these metrics score in the B to Caa range under our published
Power Generation Project Methodology, which underpin the rating
action, including the continued negative outlook.

The Project's financial performance has raised refinancing risk at
Lightstone as the term loan balance of $1.773 billion at 9/30/20 is
about $100 million higher than our original base case, owing to
much less excess cash flow generation.

On a positive note, capacity revenues will be $53 million higher
during 2021, owing to higher known capacity auction results, which
reached $140/MW-day for the 2021/22 capacity year vs. $76.53/MW-day
for 2020/21. In addition, power prices and generation could
strengthen when COVID-19 related regional lock-down measures
subside. According to management, about 75% of the gross margin in
2021 is "contracted" through known capacity revenues and an ongoing
hedging program. Moody's also note that Lightstone added to its
coal inventories in 2020 at low prices, which while utilizing
working capital during 2020, should help to improve cash flow going
forward during 2021.

Factors that Moody's will be examining over the coming months will
be Lightstone's 2021 budget and the progress the Project makes in
extending its $100 million revolver that expires at the end of
January 2022. Of particular concern for such extension is the
current financing environment for projects that include coal-fired
generators as ESG considerations continue to factor into investor
decisions.

Balancing against these considerations are the benefits that
Lightstone enjoys as a portfolio that includes three natural-gas
fired plants and the natural hedge that follows, where recent
financial results have been aided somewhat by the natural gas
plants running more often providing incremental cash flow as well
as the portfolio's strong operating performance and continuing
maintenance program. Lightstone also currently benefits from a
relatively strong liquidity profile, which currently stands at
about $180 million, composed of $100 million under the revolver
(all of which is currently available), plus $54 million in the
required 6-month debt service reserve (DSR), which is covered by
the $100 million TLC that expires in January 2024, plus $26 million
in unrestricted cash. Moody's notes that a significant portion of
this liquidity, the $100 million revolving credit facility, expires
in January 2022.

Rating Outlook

The negative outlook reflects the uncertainty relating to power
prices and related cash flow coming from the PJM wholesale market
coupled with the uncertainty concerning the outcome of the delayed
PJM capacity auctions for the 2022/23 and 2023/24 capacity years.
To the extent Lightstone continues to underperform, further rating
action is likely to follow.

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

Factors that could lead to an upgrade

In light of this rating action and the near-term challenges facing
the wholesale power market, limited prospects exist for the rating
to be upgraded. The outlook could stabilize if there is a recovery
in power market fundamentals resulting in metrics appropriate for a
B1 rating, including the ratio of Project CFO to Debt at or above
7.0%, the DSCR at or above 2.0x, and/or the ratio of Debt to EBITDA
at or below 6.0x, all on a prospective and sustained basis, and if
Lightstone is able to maintain its current level of liquidity.

Factors that could lead to a downgrade

The rating could be downgraded if Moody's do not see a recovery in
power market fundamentals and the Project continues to underperform
such that Lightstone appears unlikely to achieve key financial
metrics, including Project CFO to Debt of at least 7.0%, DSCR of at
least 2.0x and/or Debt/EBITDA of 6.0x or below, all on a
prospective and sustained basis. Moody's could also take further
negative rating action if Lightstone was unable to renew its
revolver or if excess cash flow generation remained paltry leading
to lower debt reduction through the excess cash flow sweep.

PROFILE

Lightstone is a joint venture owned by affiliates of Blackstone
Group LP (50%) (Blackstone) and ArcLight Capital Partners LLC (50%)
(ArcLight) (together the "Sponsors") and consists of a 5.3 GW
portfolio of four generation facilities located in the PJM
Interconnection market. The largest of the four plants is Gavin, a
2,721 MW supercritical, pulverized coal-fired generating station
located in Ohio. The other three plants are natural gas-fired: the
1,211 MW Lawrenceburg combined-cycle facility in Indiana; the 894
MW Waterford combined-cycle facility in Ohio; and the 484 MW Darby
peaking plant also in Ohio. All four facilities are located in the
AEP-Dayton zone and bid as a Capacity Performance product into the
forward PJM capacity auction.

The principal methodology used in these ratings was Power
Generation Projects Methodology published in July 2020.


LIQUID TECH: Moody's Assigns First Time B3 Corp. Family Rating
--------------------------------------------------------------
Moody's Investors Service assigned first-time ratings to Liquid
Tech Solutions Holdings, LLC including a B3 corporate family
rating, B3 to the $50 million revolving credit facility and $300
million senior secured first lien term loan, and a B3-PD
Probability of Default Rating. The ratings outlook is stable.

Proceeds from the $300 million senior secured term loan will be
used primarily to repay existing debt, provide cash to the balance
sheet as well as cover transaction fees and expenses. Moody's views
governance risk as elevated and an important factor in the rating,
given key-man reliance on the CEO, who continues as a significant
owner, and has been the driver behind the recent growth and has
been given considerable latitude, to manage the strategic direction
even as the company is majority owned by a private equity firm. As
a transporter of petroleum products, Liquid Tech Solutions is also
subject to laws relating to workplace safety and the cleanup of
hazardous waste and substances discharged as part of its
operations. The company could face remediation costs for the spills
and releases but such costs are not currently deemed material.

RATINGS RATIONALE

The ratings reflect Liquid Tech Solutions' relatively small scale
with net revenue of less than $200 million, elevated financial
leverage and what Moody's anticipates will be an aggressive
acquisition strategy. Moody's expects financial leverage of about
6.0x debt-to-EBITDA, pro forma for its new capital structure for
the fiscal year-ended December 31, 2020 (on a Moody's Adjusted
basis). Going forward, Moody's expects leverage to decline to the
mid-5.0x range by the end of fiscal 2021, as the company utilizes
its cash and a portion of its $50 million revolver to temporarily
fund additional acquisitions. Furthermore, the company services
multiple end markets, some of which exhibit cyclicality and are
susceptible to industrial and economic downturns. There was a
negative impact from the coronavirus outbreak in North America that
resulted in oil prices and fuel volumes temporarily declining,
though EBITDA continued to grow in 2020. The company is also
majority owned by a new financial sponsor, hence the potential for
event risk, including dividends, is present.

Liquid Tech Solutions benefits from its position as the only
provider of truck-to-truck mobile on-site refueling services with a
national footprint, part of its customer's fuel supply chain.
Demand for contactless refueling and local delivery has risen over
the past 12 months with government policies to quarantine or limit
the movement of people. Commodity exposure to fuel is minimal, as
Liquid Tech Solutions usually sells fuel within one day of
purchase, leading to low diesel inventory levels at any given
time.

Moody's expects liquidity to be adequate over the near term as the
$50 million revolver will initially be drawn only for working
capital purposes and there is sufficient cash flow generation to
meet capital expenditure needs and still generate meaningful free
cash flow. Lastly, the company has a high proportion of stable
revenue from a combination of cost-plus pricing and service fees.

In terms of corporate governance, event risk remains high for
aggressive financial policies given private equity ownership and
the company's acquisitive nature. Given the fragmented nature of
the industry, further bolt-on acquisitions are expected and could
increase leverage, if also funded with debt, or weaken liquidity
and pose integration risks. In addition, there is key man risk with
the CEO who is a significant shareholder and responsible for the
strategic direction of the business.

The stable outlook balances Moody's expectations of continued
earnings improvement, aided by cost measures implemented during
2020 and contributions from acquisitions, against a slow recovery
in the company's business environment. The outlook anticipates that
Liquid Tech Solutions will maintain an adequate liquidity profile,
including positive free cash flow.

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

The ratings could be upgraded with a sizable increase in the
company's scale, in conjunction with further revenue
diversification and sustained earnings growth that results in
stronger credit metrics, including Moody's expectation of
debt-to-EBITDA to remain in the low 4.0x, sustained positive free
cash flow generation with free cash flow-to-debt in the high
single-digits.

The ratings could be downgraded with deteriorating business
conditions, indications of weakening execution against customer
expectations, difficulty integrating future acquisitions, or an
especially rapid and/or sizeable acquisition program that could
distract management from core service obligations. The ratings
could also be downgraded if Moody's expects an inability to sustain
debt-to-EBITDA below 6.5x or generate positive free cash flow. A
deterioration of liquidity or shareholder-friendly initiatives such
as additional meaningful debt financed acquisitions or dividends
would also lead to downward ratings pressure.

Assignments:

Issuer: Liquid Tech Solutions Holdings, LLC

Probability of Default Rating, Assigned B3-PD

Senior Secured 1st Lien Term Loan, Assigned B3 (LGD3)

Senior Secured 1st Lien Revolving Credit Facility, Assigned B3
(LGD3)

Rating outlook, assigned Stable

Liquid Tech Solutions Holdings, LLC, based in Stoughton, MA, offers
a 24-7 on-site diesel fleet fueling service that delivers quality
diesel fuels directly to fleets tanks on the job site or at
customers' place of business. Liquid Tech Solutions specializes in
mobile on-site refueling and bulk fuel deliveries for local,
regional and national truck fleets. They primarily operate out of
their own corporate locations with a dedicated delivery fleet
directly to customers, without middlemen or brokers. Revenues were
approximately $870 million for the year ended December 31, 2020.

The principal methodology used in these ratings was Surface
Transportation and Logistics published in May 2019.


LOUISIANA-PACIFIC CORP: Moody's Rates $350MM Unsecured Notes 'Ba2'
------------------------------------------------------------------
Moody's Investors Service assigned a Ba2 rating to
Louisiana-Pacific Corporation's (LP) proposed $350 million senior
unsecured notes due 2029. LP intends to use the net proceeds of
this offering to refinance the 4.875% $350 million senior unsecured
notes due 2024. The company's Ba1 corporate family rating, Ba1-PD
probability of default rating, Ba2 senior unsecured bond rating,
and the SGL-1 speculative grade liquidity rating remain unchanged.
The rating outlook remains positive.

Assignments:

Issuer: Louisiana-Pacific Corporation

Senior Unsecured Regular Bond/Debenture, Assigned Ba2 (LGD5)

"The refinancing is leverage neutral and LP's existing ratings
remain unchanged, reflecting our expectation that company's
leverage (adjusted Debt to EBITDA) will remain strong (below 1x) as
the company's siding business continues to grow", said Ed Sustar,
Senior Vice President with Moody's.

RATINGS RATIONALE

LP benefits from 1) its growing North American market position in
engineered wood siding (siding), which is the company's largest
business segment (on a normalized basis) and who's earnings
currently cover all of the company's sustaining capex, dividends
and interest costs; 2) good market positions in oriented strand
board (OSB) and engineered wood products (EWP); 3) strong liquidity
and 4) normalized leverage (adjusted debt to EBITDA) of about 1.1x
using 7 year average EBITDA and current debt levels. Moody's expect
the company's leverage will remain strong (below 1x) over the next
12 to 18 months (from 0.8x in LTM Q3 2020) as average OSB prices
remain strong and LP's more stable siding business continues to
grow. LP is constrained by 1) the highly competitive nature of the
building solutions industry; 2) the volatility of its OSB business
(which represented about 39% of LTM September 2020 revenue); and 3)
the company's almost exclusive focus on the home construction and
renovation / remodeling market. The pricing of OSB, which is
currently at record highs, remains among the most volatile
commodity grades in the paper and forest products industry.

LP's new $350 million senior unsecured notes due 2029 are rated
Ba2, one notch below the company's corporate family rating,
reflecting the priority of the notes behind the company's $550
million secured revolving credit facility (unrated).

LP has strong liquidity (SGL-1) with about $1.4 billion of
liquidity and no current debt. LP had a cash balance of $535
million as of December 2020, full availability on a $550 million
committed revolving credit facility ($200 million matures in
September 2023 and the remaining matures in June 2024), and Moody's
estimate that LP will generate about $350 million of free cash flow
in the next four quarters. Moody's expect LP to remain in
compliance with its financial covenants and following the proposed
refinancing will not have any funded debt maturity for several
years.

The positive outlook is based on our view that LP will be able to
maintain strong liquidity and robust credit metrics as it increases
its position in the growing siding business with the conversion of
its Houlton, Maine facility to SmartSide and the restart of its
Peace Valley, British Columbia OSB mill. LP's credit metrics will
benefit from strong wood product demand and prices as housing
starts and renovation/remodeling activity remain solid. Based on
the robust start to the year, Moody's expect average OSB prices to
be 10% higher in 2021 compared to 2020 average prices.

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

Factors that could lead to an upgrade

Conservative financial policies and an unsecured capital
structure, in-line with an investment grade rating

Continued growth and strong operating performance in the company's
engineered wood siding business

Maintaining strong leverage (RCF minus capex /TD) above 12% and
debt to EBITDA below 3x (64% and 0.8x at LTM September 2020,
adjusted per Moody's standard definitions) on a sustainable basis.

The company maintains strong liquidity (including sustaining
positive free cash flow generation)

Factors that could lead to a downgrade

-- The company's liquidity deteriorates; or

-- If Moody's expect debt to EBITDA to remain above 4x (0.8x as of
LTM September 2020) for a sustained period.

The principal methodology used in this rating was Paper and Forest
Products Industry published in October 2018.

Headquartered in Nashville, Tennessee, Louisiana-Pacific
Corporation is a leading manufacturer and distributor of wood-based
building materials with operations in US, Canada, Chile and Brazil.


LSC COMMUNICATIONS: Court Confirms Liquidating Plan
---------------------------------------------------
Judge Sean H. Lane on Feb. 24, 2021, entered findings of fact,
conclusions of law and an order confirming the Plan of Liquidation
of LSC Communications, Inc., et al.

The Debtors on Sept. 15, 2020, signed a Stock and Asset Purchase
Agreement with ACR III Libra Holdings LLC for the sale of
substantially all of the Debtors' assets pursuant to section 363 of
the Bankruptcy Code.  The sale closed on Dec. 4, 2021.

The Debtors on Sept. 30, 2020, entered into the Stipulation
Regarding Sale and Plan with the Consenting Junior Secured
Creditors and the Committee.

The Debtors filed on Feb. 23, 2021, an Amended Plan.  

A hearing on the Plan was held Feb. 24.

As set forth in the Plan, the Solicitation Procedures, and the
Disclosure Statement, Holders of Claims in Class 3, Class 4A and
Class 4B were eligible to vote on the Plan.  As evidenced by the
Voting Certification, Holders of Claims in Classes 3, 4A and 4B
voted to accept the Plan.

As reported in the Troubled Company Reporter, key components of the
Plan include the following:

   * Subject to the occurrence of the Effective Date, rejection of
all Executory Contracts and Unexpired Leases other than (a)
Executory   Contracts or Unexpired Leases previously assumed or
rejected pursuant to an order of the Bankruptcy Court, (b)
Executory Contracts or Unexpired  Leases that are the subject of a
motion to assume, or for which a notice of assumption has been
filed pursuant to the assumption and assignment procedures
approved
by the Bankruptcy Court in connection with the Sale and (c) any
Executory Contract that is a D&O Policy.

   * Satisfaction in full of Allowed Claims in Class 1 (Other
Priority Claims) and Class 2 (Other Secured Claims).

   * Each Holder of an Allowed Junior Remaining Claim shall receive
its Pro Rata share of the Junior Remaining Claim Distribution Pool,
subject to the Unsecured Claim Pool.

   * If the RRD Settlement Conditions are satisfied, each Holder of
an Allowed General Unsecured  Claim shall receive its Pro Rata
share of the Unsecured Claim Pool, provided that all Distributions
to Holders of Allowed MEPP RRD Claims shall be made by the Plan
Administrator solely from the MEPP Distribution Account.  If the
RRD Settlement Conditions are not satisfied, each Holder of an
Allowed General Unsecured Claim shall receive (i) its Pro Rata
share of the Unsecured Claim Pool and (ii) its Pro Rata share of
the Litigation Trust Interests.

    * If the RRD Settlement Conditions are satisfied, each Holder
of an Allowed SERP Claim shall receive its Pro Rata share (i) of
the Unsecured Claim Pool and (ii) the SERP Settlement Payment.  If
the RRD Settlement Conditions are not satisfied, each Holder of an
Allowed SERP Claim shall receive its Pro Rata share of (i) the
Unsecured Claim Pool and (ii) the Litigation Trust Interests.

    * No Holder of an Intercompany Claim, Intercompany Interest,
Subordinated Claim or Equity Interest in LSC shall receive any
Distributions on account of its Claim or Interest.

The Plan, which is supported by the Consenting Junior Secured
Creditors, the Committee and RRD, was accepted by each creditor
Class entitled to vote on the Plan with overwhelming support.  

The Debtors caused Prime Clerk LLC to distribute a Solicitation
Package to each Holder of a Claim in Class 3 (Junior Remaining
Claims), and a Solicitation Package and a copy of the Committee
Letter to each Holder of a Claim in Class 4A (General Unsecured
Claims) and Class 4B (SERP Claims) (collectively, the "Voting
Classes").

The Debtors believe that R.R. Donnelley & Sons Company is providing
a substantial contribution to the Plan in exchange for the SERP
Releases, including, among other things:

   (a) funding the $4,955,127 SERP Settlement Payment on the
Effective Date, thereby directly and materially enhancing the
recovery of Holders of SERP Claims under the Plan;

   (b) funding the $2.6 million MEPP Settlement Payment on the
Effective Date, thereby enhancing the recovery of all Holders of
General Unsecured Claims under the Plan, including Holders of SERP
Claims, by reducing the size of the overall General Unsecured
Claims pool;

   (c) waiving and releasing any and all Claims RRD has asserted or
may assert against the Debtors' Estates, including all of the more
than $104 million in claims asserted against the Debtors in the RRD
proof of claim;

   (d) providing the RRD Third Party Release; and

   (e) resolving the issues underlying the RRD Settlement and
supporting Confirmation of the Plan, thereby (i) further enhancing
the recovery of all Holders of General Unsecured Claims under the
Plan by causing the Litigation Trust Funding Amount to be added to
the Unsecured Claim Pool; and (ii) reducing the Estates'
administrative costs by resolving potential Plan and claims
objections concerning RRD.    

A copy of the Plan Confirmation Order is available at
https://bit.ly/3uv7w9L from Prime Clerk LLC, the claims agent.

Counsel to the Debtors:

     Andrew G. Dietderich
     Brian D. Glueckstein
     Alexa J. Kranzley
     Christian P. Jensen
     SULLIVAN & CROMWELL LLP
     125 Broad Street
     New York, NY 10004-2498
     Telephone: (212) 558-4000
     Facsimile: (212) 558-3588

                   About LSC Communications

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

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

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


MARRONE BIO: Annual Meeting Set for May 26
------------------------------------------
The Board of Directors of Marrone Bio Innovations, Inc. scheduled
the Company's 2021 Annual Meeting of Stockholders for Wednesday,
May 26, 2021.  The time and location of the Annual Meeting will be
as set forth in the Company's proxy statement for the Annual
Meeting to be filed with the Securities and Exchange Commission.

Pursuant to the Company's Fifth Amended and Restated Bylaws, if a
stockholder of the Company intends a proposal to be considered for
inclusion in the Company's proxy statement for the Annual Meeting,
stockholder proposals must be delivered to the principal executive
offices of the Company, at 1540 Drew Ave., Davis, California 95618,
Attention: Corporate Secretary, not later than March 12, 2021.

Additionally, notice of any stockholder proposal (including a
proposal to nominate a candidate for director) that is not
submitted for inclusion in the proxy statement for the Annual
Meeting must be delivered to or mailed and received at the
principal executive offices of the Company not later than April 14,
2021.  Any stockholder proposal or director nomination must also
comply with the requirements of Delaware law, the rules and
regulations promulgated by the SEC and the Company's Bylaws, as
applicable.  Any notice received after these deadlines will be
considered untimely and not properly brought before the Annual
Meeting.

                    About Marrone Bio Innovations

Based in Davis, California, Marrone Bio Innovations, Inc. --
http://www.marronebio.com-- discovers, develops and sells
innovative biological products for crop protection, plant health
and waterway systems treatment.  MBI has screened over 18,000
microorganisms and 350 plant extracts, leveraging its in-depth
knowledge of plant and soil microbiomes enhanced by advanced
molecular technologies to rapidly develop seven effective and
environmentally responsible pest management products to help
customers operate more sustainably while uniquely improving plant
health and increasing crop yields.  Supported by a robust portfolio
of over 400 issued and pending patents around its natural product
chemistry, MBI's currently available commercial products are
Regalia, Grandevo, Venerate, Majestene, Haven Stargus and
Amplitude, Zelto and Zequanox.

Marrone Bio reported a net loss of $37.17 million for the year
ended Dec. 31, 2019, compared to a net loss of $20.21 million for
the year ended Dec. 31, 2018.  As of Sept. 30, 2020, the Company
had $72.06 million in total assets, $48.96 million in total
liabilities, and $23.10 million in total stockholders' equity.

Marcum LLP, in San Francisco, CA, the Company's auditor since 2018,
issued a "going concern" qualification in its report dated March
16, 2020 citing that the Company has incurred significant losses
and needs to raise additional funds to meet its obligations and
sustain its operations.  These conditions raise substantial doubt
about the Company's ability to continue as a going concern.


MARTIN CARPENTER'S: Seeks to Hire Buddy D. Ford as Legal Counsel
----------------------------------------------------------------
Martin Carpenter's Air Conditioning and Heating, Inc. seeks
authority from the U.S. Bankruptcy Court for the Southern District
of Alabama to employ Buddy D. Ford, P.A. as its legal counsel.

The firm will render these services:

     (a) advise the Debtor with regard to its powers and duties in
the continued operation of its business and management of the
property of the estate;

     (b) prepare documents required by the court;

     (c) represent the Debtor at the Section 341 creditors'
meeting;

     (d) advise the Debtor with respect to its responsibilities in
complying with the U.S. trustee's operating guidelines and
reporting requirements and with the rules of the court;

     (e) appear at court hearings;

     (f) protect the interest of the Debtor in all matters pending
before the court;

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

     (h) perform all other legal services for the Debtor in
connection with its Chapter 11 case.

The firm's standard hourly rates are as follows:

     Buddy D. Ford, Esq.          $425
     Senior Associate Attorneys   $375
     Junior Associate Attorneys   $300
     Senior Paralegal Services    $150
     Junior Paralegal Services    $100

In addition, the firm will be reimbursed for work-related expenses
incurred.

Prior to the commencement of the case, the Debtor paid an advance
fee of $15,000 which consists of $2,000 pre-filing fee retainer,
$13,000 post-filing fee or cost retainer, and $1,738 filing fee.

Buddy D. Ford, P.A. does not represent interest adverse to the
Debtor or the estate in the matters upon which it is to be engaged,
according to court papers filed by the firm.

The firm can be reached through:
   
     Buddy D. Ford, Esq.
     Jonathan A. Semach, Esq.
     Heather M. Reel, Esq.
     Buddy D. Ford, P.A.
     9301 West Hillsborough Avenue
     Tampa, FL 33615-3008
     Telephone: (813) 877-4669
     Email: Buddy@tampaesq.com
            Jonathan@tampaesq.com
            Heather@tampaesq.com

             About Martin Carpenter's Air Conditioning
                          and Heating Inc.

Martin Carpenter's Air Conditioning and Heating, Inc. sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. M.D.
Fla. Case No. 21-00722) on Feb. 16, 2021.  At the time of the
filing, the Debtor had estimated assets of between $100,001 and
$500,000 and liabilities of between $500,001 and $1 million.  The
Debtor is represented by Buddy D. Ford, P.A.


MCGEHEE PARK: Seeks Approval to Hire Litigation Counsel
-------------------------------------------------------
McGehee Park Apartments, LLC seeks approval from the U.S.
Bankruptcy Court for the Middle District of Nevada to hire Joseph
Warren, Esq., an attorney practicing in Montgomery, Ala.

The Debtor requires legal assistance in a state court litigation
involving BWW, Inc. and in its investigation of another cause of
action against Lighthouse Consulting Group.

Mr. Warren disclosed in a court filing that his firm has no
connection with any other creditors or parties in interest, or
their respective attorneys or accountants and Warren is a
disinterested person as defined by 11 U.S.C. Sec. 101(14).

Mr. Warren holds office at:

     Joseph W. Warren, Esq.
     P.O. Box 4689
     Montgomery, AL 36103- 4689
     Phone:  (256) 264-6401

                 About McGehee Park Apartments

McGehee Park Apartments is a single asset real estate (as defined
in 11 U.S.C. Section 101(51B)).

McGehee Park Apartments filed its voluntary petition for relief
under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Ala. Case No.
20-32590) on Dec. 29, 2020.  Michael King, sole member, signed the
petition.  In the petition, the Debtor disclosed assets of between
$1 million and $10 million  and liabilities of the same range.
Memory Memory & Causby, LLP is the Debtor's legal counsel.


MERCY HOSPITAL: Seeks to Hire Epiq as Claims Agent
--------------------------------------------------
Mercy Hospital and Medical Center and Mercy Health System of
Chicago seek approval from the U.S. Bankruptcy Court for the
Northern District of Illinois to hire Epiq Corporate Restructuring,
LLC, as their claims, noticing, solicitation and administrative
agent.

The firm will oversee the distribution of notices and the
maintenance, processing and docketing of proofs of claim filed in
the Chapter 11 cases of Mercy Hospital and its affiliates.  The
firm will also provide bankruptcy administrative services.

Epiq will charge these hourly fees:

     Clerical/Administrative Support      $35 - $55
     IT/Programming                       $65 - $85
     Case Managers                        $85 - $165
     Consultants/Directors/VPs           $160 - $165
     Solicitation Consultant                 $195
     Executive VP, Solicitation              $215
     Executives                           No Charge

Before the petition date, the Debtors provided Epiq a retainer in
the amount of $25,000.

Kathryn Tran, a consulting director at Epiq, disclosed in court
filings that the firm is "disinterested" as defined in Section
101(14) of the Bankruptcy Code.

Epiq can be reached through:

     Kathryn Tran
     Epiq Corporate Restructuring, LLC
     777 Third Avenue, 12th Floor
     New York, NY 10017
     Phone: (646) 282-2523

                     About Mercy Hospital

Mercy Hospital operates the general acute care hospital known as
Mercy Hospital & Medical Center located at 2525 South Michigan
Ave., Chicago. The hospital offers inpatient and outpatient
services.  Mercy Health System of Chicago, an Illinois
not-for-profit corporation, is the sole member of Mercy Hospital.
The health care facilities are part of Trinity Health's network of
health care providers. On the Web: http://www.mercy-chicago.org/  

  
Mercy Hospital and Medical Center and Mercy Health System of
Chicago sought Chapter 11 protection (Bankr. N.D. Ill. Case Nos.
21-01805 and 21-01806) on Feb. 10, 2021.  Mercy Hospital estimated
$100 million to $500 million in assets and liabilities as of the
bankruptcy filing.

Judge Timothy A. Barnes oversees the case.

Foley Lardner LLP, led by Matthew J. Stockl, is the Debtors' legal
counsel.  Epiq Corporate Restructuring, LLC is the claims,
noticing, solicitation and administrative agent.


METRONOMIC HOLDINGS: Gets OK to Hire Pack Law as Co-Counsel
-----------------------------------------------------------
Metronomic Holdings, LLC received approval from the U.S. Bankruptcy
Court for the Southern District of Florida to employ Pack Law, P.A.
to serve as co-counsel with Weiss Serota Helfman Cole & Bierman,
P.L., the firm handling its Chapter 11 case.

Pack Law will be paid at these rates:

     Joseph Pack, Esq.    $550 per hour
     Jessey Krehl, Esq.   $300 per hour
     Paralegal Support    $200 per hour

Joseph Pack, Esq., founding partner of Pack Law, disclosed in a
court filing that the firm is a "disinterested person" within the
meaning of Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Joseph A. Pack, Esq.
     Pack Law, P.A.
     51 Northeast 24th Street, Suite 108
     Miami, FL 33137
     Tel: (305) 916-4500
     Email: joe@packlaw.com

                 About Metronomic Holdings

Metronomic Holdings, LLC is a real estate company that owns and
manages a portfolio of real estate assets in Miami-Dade County,
Fla. and McHenry County, Ill.  

Metronomic Holdings filed a Chapter 11 petition (Bankr. S.D. Fla.
Case No. 20-20310) on Sept. 23, 2020.  At the time of the filing,
the Debtor disclosed assets of between $50 million and $100 million
and liabilities of the same range.  Judge Laurel M. Isicoff
oversees the case.  The Debtor hired Aleida Martinez Molina as its
legal counsel.


MIDWEST PHYSICIAN: Moody's Affirms B2 CFR Following Refinancing
---------------------------------------------------------------
Moody's Investors Service affirmed Midwest Physician Admin Svcs,
LLC's (a core operating company of DuPage Medical Group Ltd.
referred to herein as "DuPage") Corporate Family Rating at B2 and
Probability of Default Rating at B2-PD. At the same time, Moody's
assigned a B2 to the proposed Senior Secured 1st Lien credit
facilities. The outlook remains stable.

The actions follow DuPage's announced refinancing of its existing
capital structure. Proceeds from the new debt will be used to repay
its existing term loans in full and fund a $209 million
distribution to shareholders. The ratings on the existing first
lien credit facilities and second lien term loan will be withdrawn
upon close.

The affirmation of the B2 CFR reflects Moody's expectation that
DuPage's debt/EBITDA will decline to about 5.7x by the end of 2022
as DuPage passes the anniversary of 2Q 20, which was most impacted
by the coronavirus pandemic. Moody's estimates debt/EBITDA of
around 6.6x at FYE 2020 pro forma for the proposed transaction.

Moody's expects the company to realize mid-single digit revenue
growth and benefit from increasing average revenue per physician as
new physicians are on-boarded and their productivity improves. This
will be partially offset by higher employee compensation costs.
Credit metrics will also be aided by additional earnings generated
by DuPage's new surgery center, which is on track to be completed
in 2021. The surgery center should serve as a feeder to DuPage's
physician practices.

Moody's views the shareholder distribution as a credit negative as
it points to the aggressive nature of DuPage's financial policies,
a key governance issue. DuPage will be meaningfully reducing its
cash balance to fund the dividend. Combined with higher gross
financial leverage, this will leave DuPage more weakly positioned
to absorb any unexpected operating setback or incremental debt.
Additionally, Moody's believes DuPage's aggressive policies pose
social risks as key customer relations stakeholders include
patients, payors and government entities.

The assignment of the B2 rating to the new 1st lien credit
facilities reflects the fact that all the debt in the capital
structure will be pari passu, and is rated B2, the same as the
Corporate Family Rating.

Assignments:

Issuer: Midwest Physician Admin Svcs, LLC

Senior Secured 1st Lien Term Loan, Assigned B2 (LGD3)

Senior Secured 1st Lien Revolving Credit Facility, Assigned B2
(LGD3)

Affirmations:

Issuer: Midwest Physician Admin Svcs, LLC

Probability of Default Rating, Affirmed B2-PD

Corporate Family Rating, Affirmed B2

Outlook Actions:

Issuer: Midwest Physician Admin Svcs, LLC

Outlook, Remains Stable

RATINGS RATIONALE

DuPage's B2 CFR reflects Moody's expectations that the company's
leverage will remain high, increasing to around 6.6x at FYE 2020
pro forma for the proposed dividend. Leverage should improve to
5.7x by the end of 2022 as DuPage passes the anniversary of 2Q 20,
which was most impacted by the coronavirus pandemic. The ratings
also reflect the risks associated with the company's high degree of
geographic concentration given operations are primarily located in
the greater Chicago, IL area. The credit profile benefits from the
company's multi-specialty business model which provides patients
with a broad range of primary and specialist care in an integrated
setting. The company has meaningful scale in its markets and has
successfully executed an organic and acquisition-led growth
strategy.

Moody's anticipates that DuPage will maintain good liquidity over
the next 12-18 months. The company's liquidity is supported by cash
and equivalents of $25 million pro forma for the transaction, down
from about $200 million at FYE 2020, and Moody's expectation of
positive cash flow from operations. Moody's expects DuPage will
repay about $20 million in 2021 and 2022 related to the Medicare
Advance payments, but will not need to repay the HHS grants, and
that internal liquidity will be sufficient to make these payments.
The proposed $100 million revolving credit facility is expected to
remain undrawn and will contain a maximum 7.2 times first lien net
leverage ratio covenant that is tested when borrowing exceeds 30%
of the commitment. While Moody's does not expect the covenant to be
tested over the next 12-18 months, Moody's believes the company
will have adequate headroom, if tested.

The outlook is stable, reflecting Moody's expectation of declining
financial leverage due to earnings growth. Moody's believes that
DuPage will continue to pursue acquisitions, but that these will be
funded largely with internal source of liquidity.

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

The ratings could be upgraded if the company substantially broadens
its geographic presence, exhibits less aggressive financial
policies, sustained improvement in free cash flow, and if adjusted
debt/EBITDA is sustained below 5.0x.

The ratings could be downgraded if financial policies become more
aggressive, including pursuing another shareholder dividend or a
large debt funded acquisition. The ratings could be downgraded if
any unexpected operating setback materially weakens DuPage's
earnings or liquidity. Quantitatively, ratings could be downgraded
if adjusted debt/EBITDA is sustained above 6.0 times.

The proposed first lien term loans are expected to have no
financial maintenance covenants. The proposed revolving credit
facility will contain a springing maximum first lien net leverage
ratio that will be tested, beginning with the second full fiscal
quarter after closing, when the revolver is more than 30% drawn. If
tested, the covenant will require first lien net leverage to be
below 7.2 times. In addition, the first lien credit facility
contains incremental facility capacity up to the greater of $129
million and 100% LTM EBITDA, plus unused general debt basket
amounts, plus unlimited additional amounts up to 5.0x first lien
net leverage ratio (if pari passu secured), up to 5.25x secured net
leverage ratio (if junior secured), and either up to 5.50x total
net leverage ratio or so long as the interest coverage ratio is
less than 2.0x. Alternatively, the ratio tests may be satisfied so
long as ratios are no worse on a pro forma basis. Amounts up to the
greater of $64.5m and 50% of LTM EBITDA can be incurred with an
earlier maturity date than the first lien term loan maturity date.
Asset transfers to unrestricted subsidiaries are permitted subject
to carve-outs; there are no "blocker" provisions contemplated. Only
wholly owned subsidiaries must provide guarantees, raising the risk
that guarantees may be released following a partial change in
ownership. There are step-downs in the asset sale prepayment
requirement to 50% and 0% upon achieving first lien net leverage
ratios 0.50 times and 1.00 times inside the closing date first lien
net leverage, respectively.

DuPage is a large, independent multi-specialty physician group with
over 775 physicians based in 120 locations in/near the greater
Chicago, IL area. The company handles over 2 million patient
encounters annually. The company generates around $1.1 billion of
revenue. The company is owned by affiliates of Ares Management
L.P., management and physicians of the company.

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


MISSOURI JACK: Gets OK to Tap Reliable Companies as Service Agent
-----------------------------------------------------------------
Missouri Jack, LLC and its affiliates received approval from the
U.S. Bankruptcy Court for the Eastern District of Missouri to
employ Reliable Companies as service agent.

The Debtors require a service agent in their Chapter 11 cases to
produce copies and mail legal documents.

Reliable's total compensation and reimbursement will not exceed
$5,000 per month or $35,000 in the aggregate over the life of these
Chapter 11 cases.

Larry Taylor of Reliable Companies disclosed in a court filing that
the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Larry D. Taylor
     Reliable Companies
     1650 Arch Street, Suite 2210
     Philadelphia, PA 19103
     Tel: (215) 563-3363

                        About Missouri Jack

Earth City, Mo.-based Missouri Jack LLC, Illinois Jack LLC and
Conquest Foods, LLC are owners of 70 Jack In The Box restaurants in
Missouri and Illinois.  

Missouri Jack and its affiliates sought Chapter 11 protection
(Bankr. E.D. Mo. Case Nos. 21-40540 to 21-40542) on Feb. 16, 2021.
The petitions were signed by Navid Sharafatian of Victorville,
California, the manager of TNH Partners LLC. Missouri Jack listed
assets and liabilities of $10 million to $50 million while Illinois
Jack and Conquest listed assets of $1 million to $10 million and
liabilities of $10 million to $50 million.

Judge Barry S. Schermer oversees the cases.

Leech Tishman Fischaldo & Lampl, Inc. and Summers Compton Wells,
LLC serve as the Debtor's lead bankruptcy counsel and local
counsel, respectively.


MNM LLC: Seeks to Hire Riggi Law as Bankruptcy Counsel
------------------------------------------------------
MNM LLC seeks approval from the U.S. Bankruptcy Court for the
District of Nevada to hire Riggi Law Firm as its legal counsel.

The firm's services will include:

      (1) advising the Debtor of its rights and obligations and
assisting the Debtor in discharging its duties during the
administration of its Chapter 11 case;

      (2) representing the Debtor in all proceedings before the
bankruptcy court or other courts with jurisdiction over its case as
well as any pre-bankruptcy litigation;

      (3) assisting the Debtor in developing legal positions and
strategies with respect to all facets of its Chapter 11
proceedings; and

      (5) other legal services necessary to administer the case.

The firm will be paid at these rates:

     David A. Riggi             $400 per hour
     Paralegals or Law Clerks   $100 per hour

David Riggi, Esq., at Riggi Law Firm, disclosed in a court filing
that he and his firm are disinterested within the meaning of
Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     David A. Riggi, Esq.
     Riggi Law Firm
     5550 Painted Mirage Rd. Suite 320
     Las Vegas, NV 89149
     Phone: (702) 463-7777
     Fax: (888) 306-7157
     Email: RiggiLaw@gmail.com

                           About MNM LLC

MNM LLC sought protection for relief under Chapter 11 of Bankruptcy
Code (Bankr. D. Nev. Case No. 20-15709) on Nov. 12, 2020, listing
under $1 million in both assets and liabilities.  David A. Riggi,
Esq., at Riggi Law Firm serves as the Debtor's legal counsel.


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

    Debtor                                        Case No.
    ------                                        --------
    MobiTV, Inc. (Lead Case)                      21-10457
    1900 Powell Street
    Emeryville, CA 94608

    MobiTV Service Corporation                    21-10458
    1900 Powell Street
    Emeryville, CA 94608

Business Description: The Debtors are providers of end-to-
                      end internet protocol streaming television
                      services (IPTV) through which the Debtors
                      provide a video platform and technology that

                      streams content from leading television
                      providers such as HBO, Fox, the Walt Disney
                      Company, NBC, CBS, and others.  The Debtors
                      offer their IPTV services and technology to
                      cable television operators, broadband
                      providers, and cellular device carriers via
                      its proprietary cloud-based, fully
                      customizable, white label application,
                      allowing the Debtors' over 125 business
                      customers to provide television content to
                      over 300,000 end-user subscribers.

Chapter 11
Petition Date:        March 1, 2021

Court:                United States Bankruptcy Court
                      District of Delaware

Judge:                Hon. Brendan Linehan Shannon

Debtors'
Bankruptcy
Counsel:              Debra I. Grassgreen, Esq.
                      Jason H. Rosell, Esq.
                      Mary F. Caloway, Esq.
                      PACHULSKI STANG ZIEHL & JONES LLP
                      919 North Market Street, 17th Floor
                      Wilmington, DE 19899-8705
                      Tel: 302-652-4100
                      Fax: 302-652-4400
                      E-mail: dgrassgreen@pszjlaw.com
                              jrosell@pszjlaw.com
                              mcaloway@pszjlaw.com

Debtors'
Financial
Advisor:              FTI CONSULTING, INC.

Debtors'
Claims,
Noticing, &
Solicitation
Agent:                BANKRUPTY MANAGEMENT SOLUTIONS, INC.
                      d/b/a STRETTO
                    https://cases.stretto.com/mobitv/court-docket/

MobiTV, Inc.'s
Estimated Assets: $10 million to $50 million

MobiTV, Inc.'s
Estimated Liabilities: $50 million to $100 million

The petitions were signed by Terri Stevens, chief financial
officer.

Copies of MobiTV, Inc.'s petition is available for free at
PacerMonitor.com at:

https://www.pacermonitor.com/view/SXXAACI/MobiTV_Inc__debke-21-10457__0001.0.pdf?mcid=tGE4TAMA

Consolidated List of Debtors' 30 Largest Unsecured Creditors:

   Entity                          Nature of Claim    Claim Amount
   ------                          ---------------    ------------
1. Rackspace                       Convertible Note     $4,000,000

P.O. Box 730759
Dallas, TX 75373
Jeff Conrad
Tel: 210-452-2876
Email: jconrad@rackspace.com

2. Silicon Valley Bank                 PPP Loan         $3,060,894
3003 Tasman Drive
Santa Clara, CA 95054
Jayne Tang
Tel: 408-654-8741
Email: jtang@svb.com

3. MPEGLA                            Licensing Fees     $2,905,000
8101 E. Prentice Avenue
Suite 900
Englewood, CO 80111
Tel 303-331-1880
Email: licensing-web@mpegla.com

4. Cybage Software                   Contractor Fees    $1,355,207
Private Limited
Survey No. 13A/1+2+3/1
Vadgaon Sheri
Pune 411014
Maharshtra India
Sai Balaji
Tel: 91-20-66041700
Email: saiv@cybage.com

5. Ateme, Inc.                        Trade Payable     $1,090,094
750 W. Hampden Avenue
Suite 290
Englewood, CO 80110
Alexis Phienboupha
Tel: 786-630-9037
Email: a.phienboupha@ateme.com

6. BEAR Cloud                         Trade Payable     $1,049,410
Technologies, Inc.
Attn: Finance
P.O. Box 378
Bakersfield, CA 93302
Don James
Tel: 415-720-5050
Email: dj@bearcloudtech.com

7. Elemental Technologies LLC         Trade Payable       $558,186
1320 SW Broadway, Suite 400
Portland, OR 97201
Charles Brau
Tel: 503-222-3212
Email: charbrau@elemental.com

8. Rovi Guides, Inc.                  Trade Payable       $512,149
P.O. Box 202624
Dallas, TX 75320
Karen Bullock
Tel: 918-488-4706
Email: karen.bullock@tivo.com

9. ABC Cable Networks                Video Streaming      $362,230
Group                                    Content
P.O. Box 732550
Dallas, TX 75373
Sal Vasquez

10. Fox News Network, LLC            Video Streaming      $349,800
1211 Avenue of the Americas              Content
2nd Floor
New York, NY 10036
Indira Kunhegyesi
Tel: 212-556-2500
Email: indira.kunhegyesi@foxnews.com

11. Kovarus                           Trade Payable       $343,980
P.O. Box 396039
San Francisco, CA 94139
Michelle Gomez
Tel: 650-763-0649
Email: mgomez@kovarus.com

12. Persistent Systems, Inc.           Professional       $341,961
2055 Laurel Wood Road                    Services
Suite 210
Santa Clara, CA 95054
Ninad Sarwate
Tel: 91 20 669 65130
Email: ninad_sarwate@persistent.com

13. Kwan Intellectual                  Professional       $255,368
Property Law                             Services
2000 Hearst Avenue
Suite 305
Berkeley, CA 94709
Audrey Kwan
Tel: 408-883-5025
Email: akwan@kwanlp.com

14. Globecast America, Inc.            Trade Payable      $161,100
10525 West Washington Boulevard
Culver City, CA 90232
Kathryn Chittenden
Tel: 805-208-4818
Email: kathryn.chittenden@globec
astna.com

15. Tringapps Inc.                      Contractors       $150,400
551 5th Avenue
Suite 630
New York, NY 10176
Karthik Kumaraswar
Contractors
Tel: 732-692-4016
Email: karthik.kumaraswamy@tringapps.com

16. EPB Fiber Optics                   Trade Payable      $150,206
10 West ML King Boulevard
Chattanooga, TN 37402
Katie Espeseth
Tel: 423-648-1372
Email: espesethkg@epb.net

17. NTT Global Data Centers            Trade Payable      $105,202
Americas
dba RagingWire
P.O. Box 348060
Sacramento, CA 95834
Isabel Ebner
Tel: 916-286-4051
Email: iebner@ragingwire.com

18. Telia Carrier U.S. Inc.            Trade Payable       $96,705
Lock Box #49664966
Paysphere Circle
Chicago, IL 60674
Michelle Pritchett
Tel: 703-546-4042
Email: michelle.pritchett@teliacom
pany.com

19. GuidePoint Security LLC            Trade Payable       $89,750
P.O. Box 742788
Atlanta, GA 30374-2788
Bryan Orme
Tel: 877-889-0132, x7012
Email: bryan.orme@guidepointsecurity.com

20. A&E Television                    Video Streaming      $89,726
Networks, LLC                             Content
1118th Avenue
New York, NY 10011
Nicole Muzzio
Tel: 310-556-7562
Email: nicole.muzzio@aenetworks.com

21. Level 3 Communications, LLC        Trade Payable       $89,287
dba CenturyLink
P.O. Box 910182
Denver, CO 80291-0182
Tel: billing@centurylink.com

22. Comcast Cable                      Trade Payable       $85,856
Communications, LLC
P.O. Box 37601
Philadelphia, PA
19101-0601
Tel: 800-741-4141

23. Digital Realty Trust, LP           Trade Payable       $85,785
dba Telx Atlanta 2, LLC
P.O. Box 419729
Boston, MA 02241
Jeff Goode
Email: jgoode@digitalrealty.com

24. MTV Networks                       Video Content       $84,000
70619 Networks Place                     Streaming
CHicago, IL 60673
Matthew Borkowsky
Tel: 212-654-8062
Email: Matthew.Borkowsky@viacom.com

25. Discovery                        Video Streaming       $82,735
Communications, Inc.                     Content
P.O. Box 79971
Baltimore, MD 21279
Ryan Hammonds
Email: ryan_hammonds@discovery.com

26. RPX Corporation                   Trade Payable        $79,246
One Market Plaza,
Steuart Tower
Suite 1100
San Francisco, CA 94105
Anne Abramowitz
Tel: 415-852-3182
Email: aabramowitz@rpxcorp.com

27. KPMG, LLP                          Professional        $76,981
P.O. Box 120922                          Services
Dept. 0922
Dallas, TX 75312
Sarah North
Tel: 408-367-2209
Email: snorth@kpmg.com

28. ValueLabs, Inc.                     Contractors        $75,053
460 Park Avenue
2nd Floor
New York, NY 10022
Pavan Madiraja
Tel: 408-832-3036
Email: pavan.madiraja@valuelabs.com

29. Amino Technologies                 Trade Payable       $75,000
(US) LLC
20823 Stevens Creek
Boulevard
Suite 400C
Cupertino, CA 95014
Jonny McKee
Tel: 44-7748-667-763
Email: jonathan.mckee@amino.tv

30. Oracle America, Inc.               Trade Payable      $71,719
500 Oracle Parkway
Redwood City, CA 94065
Tel: 650-506-7000


MOBITV INC: To Continue Sale Process While in Chapter 11
--------------------------------------------------------
MobiTV Inc., which claims to be the first company to bring live and
on-demand television to mobile devices, has sought Chapter 11
protection to pursue a sale of the business.

MobiTV provides end-to-end internet protocol streaming television
services ("IPTV") via a proprietary cloud-based, white-label
application.  Its IPTV application lets customers, generally
television operators, broadband providers, and cellular device
carriers to provide a fully branded and customized video streaming
platform on retail devices such as Roku, Apple TV, Amazon Fire TV,
Xbox, and smart TVs, as well as other devices utilizing Android and
iOS operating systems to their subscribers.

The Debtors have secured certain transportation rights by which the
Debtors provide content through the IPTV Application from over 375
leading video content providers such as HBO, Fox, the Walt Disney
Company, Viacom, NBC, CBS, and others.

The Company holds key contracts with T-Mobile USA, Inc. and over
120 cable/broadband television -- pay TV" or "premium television --
providers to deliver streaming content to over 300,000 end-user
subscribers.

MobiTV Inc. owns non-debtor MobiTV India Services Private Limited,
an Indian entity created to facilitate the Debtors' presence in
India.

As of the Petition Date, the Debtors utilize the services of
approximately 86 employees in critical functions such as
engineering, sales and marketing, operations, and back-office and
administrative positions.  Most of the Debtors' employees are based
in the Company's Emeryville, California headquarters.

As of the Petition Date, the Company had total assets of
approximately $19 million and total liabilities of $75 million.

As of the Petition Date, the Company's aggregate funded and matured
secured debt obligations were $25 million, plus accrued interest
and expenses.  This amount is owed to the Debtors' sole prepetition
secured lender, Ally Bank.

The Company's unsecured obligations are:

   * $3 million is outstanding under a Paycheck Protection Program
(PPP) loan granted by Silicon Valley Bank in April 2020 pursuant to
the U.S. Small Business Administration’s Paycheck Protection
Program (PPP);

   * $4 million is outstanding under a subordinated convertible
promissory note issued by MobiTV to Rackspace International
Holdings Inc.;

  * $5.3 million is outstanding under three subordinated
convertible promissory notes identified as Oak Investment Notes;
and

  * $15 million in general unsecured claims relating to trade
debt.

According to CFO Terri Stevens, despite growing revenue and
increasing subscriber and customer bases, the Debtors have been
incurring substantial operating losses.  In calendar year 2020, the
Company generated $13.5 million in revenue, resulting in an
operating loss of $34 million.

Although the Company projected significant and material subscriber
and revenue growth for 2020, the COVID-19 pandemic and related
stay-at-home orders, materially impaired the Company's growth
opportunities.  As a result, the Company found itself with limited
liquidity and at risk of default under its debt agreements.

A Fifteenth Amendment to Loan and Security Agreement, dated Aug. 6,
2020, provided for a limited forbearance on the Prepetition Loan
Facility.  In accordance with the terms of the Fifteenth Amendment,
in August 2020, the Debtors engaged FTI Capital Advisors LLC
("FTI") to assist with the Debtors' evaluation of strategic
alternatives.  While the Debtors entered into advanced negotiations
with several potential capital providers, including a period of
exclusive negotiations with several potential investors,
negotiations to structure an acceptable out-of-court refinancing
were unsuccessful.

                        Chapter 11 Filing

In light of the Company's most recent marketing process, and the
desire of potential acquirers to purchase the Company's assets free
and clear of any liabilities, the Company believed it would be
unable to consummate a strategic transaction out of court --
especially given its limited available liquidity.

The Company, the Prepetition Lender, and T-Mobile mutually
determined that, among the strategic alternatives to be considered,
the Company should prepare for a potential sale process that could
be implemented through the filing of chapter 11 cases to maximize
the value of the Company and its assets.  In connection therewith,
an affiliate of T-Mobile, TVN Ventures, LLC agreed to provide the
Company with postpetition financing on a subordinated basis to the
Prepetition Loan Facility.

Despite the commencement of these chapter 11 cases, the Company
fully intends to continue to run an extensive marketing process.
With the Company's continued employment of FTI, whose marketing
strategy will include re-engaging parties who originally showed
interest in the Company's assets in addition to new potential
buyers, the Company is hopeful that such efforts will result in
securing a purchaser of the Company's assets and possible stalking
horse bidder.

Accordingly, the Company will file a sale procedures motion to
establish a formal marketing process designed to maximize the value
of the Company's assets.  In connection therewith, the Company
contemplates a robust marketing process followed by an open
auction.  The Company will also seek authority to enter into a
stalking horse bid and designate a stalking horse purchaser in the
Company's business judgment (after consultation with the DIP
Lender, the Prepetition Lender, and any official committee of
unsecured creditors, as applicable) up to and including 7 calendar
days prior to the bid deadline.  This optionality will allow the
Company to continue to work towards securing a stalking horse bid
as a backstop to the sale process, while enabling the process to
proceed as efficiently and economically as possible.

                       About MobiTV, Inc.

Founded in 2000, MobiTV is the first company to bring live and
on-demand television to mobile devices and is a leader in
application-based television and video delivery solutions.  MobiTV
provides end-to-end internet protocol streaming television services
("IPTV") via a proprietary cloud-based, white-label application.

On March 1, 2021, MobiTV Inc. and MobiTV Service Corporation filed
for Chapter 11 protection (Bankr. D. Del. Lead Case No. 21-10457).

MobiTV Inc. estimated at least $10 million in assets and $50
million to $100 million in liabilities as of the filing.

FTI Consulting, Inc. and FTI Capital Advisors LLC have been
retained as the Company's financial advisor and investment banker
to assist in negotiation of strategic options.  Pachulski Stang
Ziehl & Jones LLP and Fenwick & West LLP are serving as the
Company's legal advisors.  Stretto is the claims agent, maintaining
the page https://cases.stretto.com/MobiTV



MONOTYPE IMAGING: Moody's Gives B3 Rating to New $80M Loan Add-on
-----------------------------------------------------------------
Moody's Investors Service assigned a B3 rating to Monotype Imaging
Holdings Inc.'s proposed $80 million add-on issuance to its senior
secured first lien term loan due 2026. Monotype's existing ratings,
including the Caa1 corporate family rating, and stable outlook are
unchanged. The company plans to use the proceeds from the add-on to
repay revolver borrowings with the remaining amount on balance
sheet for near-term tuck-in acquisitions.

Although the proposed transaction will increase gross leverage for
the company, Moody's views it as credit positive because it will
improve the company's liquidity.

Assignments:

Issuer: Monotype Imaging Holdings Inc.

Senior Secured Bank Credit Facility, Assigned B3 (LGD3)

RATINGS RATIONALE

Pro-forma for the proposed transaction, Moody's now expects
Monotype to have adequate liquidity over the next 12-18 months,
which puts the company in a better position to execute on its
transition efforts. Monotype's liquidity has been weak throughout
2020, constrained by the diminished operating cash flows due to the
coronavirus outbreak, modest cash on hand and heavy reliance on the
revolver. As of December 31, 2020 Monotype had $19 million cash on
the balance sheet and $20 million availability on its $70 million
revolver. The proposed add-on issuance will enable the company to
pay off the revolver balance and will meaningfully reduce reliance
on the revolver over the next 12 months. Moody's expects that
Monotype may use revolver borrowing periodically to bridge the
timing of its quarterly cash flows, which are lumpy, but will
maintain comfortable availability over the next 12-18 months.

The transaction will initially increase Monotype's gross leverage
because the company plans to use $50 million of the proceeds for a
leverage-neutral revolver paydown with the balance initially
remaining on balance sheet. Moody's estimates Monotype's leverage
at 7.5x at year-end 2020 including Moody's standard adjustments and
pro-forma for the proposed debt raise and Moody's believe it will
likely remain close to this level in 2021. The timing and EBITDA
impact of the contemplated acquisitions are uncertain, and so is
their expected delevering impact though the company indicates that
the acquisitions will be EBITDA-accretive. Moody's view Monotype's
leverage as high given the business risks of the continued
transition to an enterprise sales model, on-going restructuring and
acquisition-oriented growth strategy.

Monotype's Caa1 corporate family rating continues to reflect a
business model that remains in transition, execution risk due to
continued restructuring, high leverage, small scale as measured by
revenue and lumpy earnings and cash flows. The rating also takes
into consideration an aggressive financial strategy supportive of
acquisition-oriented growth, operating with high leverage and a
likelihood of owner distributions when performance improves.
Nevertheless, the credit profile garners support from the company's
leading position in a niche digital industry, a well-known
portfolio of perpetually protected font IP, and a substantial share
of recurring revenues. The company has increasingly converted its
license revenues from a perpetual to subscription-based sales
model, improving its overall revenue stability.

The company's operating performance improved in the fourth quarter
2020, with a rebound in revenue across all segments in the quarter.
Moody's expects Monotype's free cash flow to be modestly positive
in 2021 as improved earnings from a more favorable operating
environment and cost saving actions should offset the higher debt
service costs and the investments needed to integrate the
contemplated acquisitions.

The stable outlook reflects Moody's expectation that Monotype will
return to revenue growth in 2021, improve liquidity and generate
positive free cash flow.

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

The ratings could be upgraded if liquidity improves, cost savings
are enacted successfully, enterprise sales continue to grow while
the other segments stabilize, and the company commits to balanced
financial policies. An upgrade will also require that leverage and
interest coverage improve materially.

A downgrade could occur if the company's liquidity weakens,
customer retention and revenue decline, or Moody's expects negative
free cash flow to persist.

The principal methodology used in this rating was Business and
Consumer Service Industry published in October 2016.

Headquartered in Woburn, Massachusetts, and majority owned by
affiliates of private equity sponsor HGGC, Monotype Imaging
Holdings Inc. owns and licenses well-known fonts and the associated
software and services. The company generated approximately $220
million revenue in FY2020.


MOTELS OF SUGAR: Cash Collateral Access OK'd Thru March 9
---------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Indiana,
Indianapolis Division, has authorized Motels of Sugar Land, LLP to
use cash collateral on an interim basis through March 9, 2021 in
accordance with the budget, with a 10% variance.

The Debtor requires the use of cash collateral to continue to
operate its business and to attempt a successful reorganization.

The Debtor represented that JAMVATI, LLC, may have made loans to
the Debtor pursuant to various loan documents.

The Debtor represented that it is indebted to the Secured Creditor
in total approximately $6,000,000), plus accrued and unpaid
interest and other charges as provided in the Loan Documents.

The Debtor contends that the Secured Creditors have valid and
enforceable security interests and liens in all of the Debtor's
assets, including but not limited to, the Debtor's cash
collateral.

As adequate protection, the Secured Creditors are granted
replacement liens in the Cash Collateral and in the post-petition
property of the Debtor of the same nature and to the same extent
and in the same priority held in the Cash Collateral on the
Petition Date. The Adequate Protection Liens are valid and fully
perfected without any further action by any party and without the
execution or the recordation of any control  agreements, financing
statements, security agreements, or other documents. The Adequate
Protection Liens will secure obligations to the Secured Creditors
to the extent that the Debtor's use of the Cash Collateral
diminishes the amount of the Collateral held as of the Petition
Date.

The Debtor is also directed to provide financial reports submitted
to the United States Trustee's Office, and other information as the
US Trustee may from time to time request; (ii) answer inquiries and
requests of creditors and their professionals for information,
and/or documentation; (iii) provide full cooperation and
information as to the value and description of the assets of the
Debtor and the sale or liquidation of those assets, and (iv) comply
with all reporting requirements and financial disclosures required
by the Loan Documents.

A final hearing on the Debtor's use of cash collateral will be held
on March 9 at 1:30 pm.

A copy of the order is available at https://bit.ly/2MzAqnY from
PacerMonitor.com.

                About Motels of Sugar Land, LLP

Motels of Sugar Land, LLP owns the 94-suite Springhill Suites and
Hotel by Marriott in Sugarland, Texas, that employs 14 people.

Motels of Sugar Land sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Ind. Case No. 21-00371) on Jan. 29,
2021.  Motels of Sugar Land President Sanjay Patel signed the
petition.  In the petition, the Debtor disclosed $6,396,935 in
assets and $6,455,893 in liabilities.

Judge Robyn L. Moberly oversees the case.  

KC Cohen, Lawyer, PC is the Debtor's legal counsel.



MY FL MANAGEMENT: Seeks to Tap Karlinsky & Golub as Accountant
--------------------------------------------------------------
My FL Management, LLC seeks approval from the U.S. Bankruptcy Court
for the Southern District of Florida to employ Karlinsky & Golub
CPAs, PLLC as its accountant.

Karlinsky & Golub will render these services:

     (a) review financial information prepared by the Debtor;

     (b) review and analyze the organizational structure of and
financial interrelationships among the Debtor and its affiliates;

     (c) render such other assistance in the nature of accounting
services;

     (d) prepare reports and projections; and

     (e) prepare tax returns.

Karlinsky & Golub has agreed to perform the services at the
ordinary and usual hourly billing rates of its members who will
perform services in this matter.

In addition, the firm will seek reimbursement for out-of-pocket
expenses incurred.

Yanina Karlinsky, a partner at Karlinsky & Golub, disclosed in
court filings that the firm is a "disinterested person" as that
term is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Yanina Karlinsky
     Karlinsky & Golub CPAs, PLLC
     1719 E. 12 Street
     Brooklyn, NY 11229
     Tel: (718)-336-3100

                       About My FL Management

MY FL Management LLC, owns Royal Beach Palace, a hotel located in
the residential Lauderdale-by-the-Sea, about a 10-minute walk to
the beach.

Fort Lauderdale, Florida-based MY FL Management LLC sought Chapter
11 protection (Bankr. S.D. Fla. Case No. 21-11028) on Feb. 2, 2021.
Yuri Gnesin, manager, signed the petition. The Debtor estimated
assets and debt of $1 million to $10 million as of the bankruptcy
filing.

The Debtor tapped Edelboim Lieberman Revah Oshinsky, PLLC as its
legal counsel and Karlinsky & Golub CPAs, PLLC as its accountant.


NATURALSHRIMP INC: Inks $12.5M Deal to Acquire Hydrenesis Assets
----------------------------------------------------------------
NaturalShrimp, Inc. has signed a letter of intent to acquire the
aquaculture assets of Hydrenesis Aquaculture, LLC for $12,500,000,
consisting of $5,500,000 in cash and the balance due in NSI common
stock.  The acquisition is expected to be accretive to earnings in
fiscal year 2021.

NaturalShrimp CEO Gerald Easterling said, "NaturalShrimp has been
working with Hydrenesis since 2018 on several solutions for the
industry with the team at Hydrenesis.  We currently have trials on
going in Norway and Australia.  The Company intends to immediately
begin deployment of the technology in our hatchery and nursery
systems.  We also believe that the Hydrenesis technology will have
major impacts on disease control in salmon, barramundi, and tilapia
farming segments.  We expect to file additional patents around the
expansion of the application and use of the combined EC and
Hydrenesis technology."

Hydrenesis CEO David Antelo said, "We are excited for the next
evolution of our relationship with NaturalShrimp.  We have been
exploring the application of 'Redox' water treatment for several
years.  Our technologies' ability to affect water chemistry and
elevate water quality is proving to have a significant impact on
growth and health metrics.  Natural Shrimp's bold vision and rapid
growth trajectory make them the ideal partner for extending
commercialization of Hydrenesis technologies to additional species
applications."

                        About Natural Shrimp

NaturalShrimp, Inc. is a publicly traded aqua-tech Company,
headquartered in Dallas, with production facilities located near
San Antonio, Texas.  The Company has developed a commercially
viable system for growing shrimp in enclosed, salt-water systems,
using patented technology to produce fresh, never frozen, naturally
grown shrimp, without the use of antibiotics or toxic chemicals.
NaturalShrimp systems can be located anywhere in the world to
produce gourmet-grade Pacific white shrimp.

NaturalShrimp recorded a net loss of $4.81 million for the year
ended March 31, 2020, compared to a net loss of $7.21 million for
the year ended March 31, 2019.  As of Sept. 30, 2020, the Company
had $4.09 million in total assets, $4.31 million in total
liabilities, and a total stockholders' deficit of $215,012.

Turner, Stone & Company, L.L.P., in Dallas, Texas, issued a "going
concern" qualification in its report dated June 26, 2020, citing
that Company has suffered significant losses from inception and has
a significant working capital deficit.  These conditions raise
substantial doubt about its ability to continue as a going concern.


NINE WEST: Insurers Lost Defense Restitution Bid in $120-Mil. Row
-----------------------------------------------------------------
Law360 reports that Starr Indemnity & Liability Co. and other
insurers can't get out of covering an investment group's $120
million settlement in litigation over a buyout of retailer Nine
West just because the deal may represent payback for "ill-gotten
gains," a Delaware state court judge has ruled.

Superior Court Judge Abigail M. LeGrow on Friday, February 26,
2021, gave a partial win to Sycamore Partners Management LP and its
sister firms, finding the excess insurers couldn't invoke the
so-called uninsurability defense to get out of covering the
Delaware private equity firms in a settlement with the bankruptcy
trustees for the women's shoe retailer.

                        About Nine West

Nine West Holdings Inc. is a footwear, accessories, women's
apparel, and jeanswear company with a portfolio of brands that
includes Nine West, Anne Klein, and Gloria Vanderbilt.  The company
is a wholesale partner to major U.S. retailers and has
international licensing arrangements covering more than 1,200
points of sale around the world.

In April 2014, Sycamore Partners Management, L.P., acquired The
Jones Group Inc. for $2.2 billion via leveraged buyout.  As part of
the transaction, The Jones Group merged with several affiliates,
and the newly merged company was renamed as Nine West Holdings.

On April 6, 2018, Nine West Holdings, Inc., and 10 affiliates
sought Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No.
18-10947) to right size their balance sheet, sell the Nine West
Group's assets, and execute on their turnaround strategy to
concentrate exclusively on their One Jeanswear Group, Kasper Group,
The Jewelry Group, and Anne Klein businesses.

In addition to the chapter 11 cases, Jones Canada, Inc., and Nine
West Canada LP commenced foreign insolvency proceeding under the
Bankruptcy and Insolvency Act in Canada.

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

The Debtors tapped Kirkland & Ellis LLP as counsel; Lazard Freres &
Co. as investment banker; Alvarez & Marsal North America LLC as
interim management and financial advisory services provider;
Consensus Advisory Services LLC and Consensus Securities LLC as
investment banker in connection with the sale of intellectual
property associated with the Nine West and Bandolino brands;
Deloitte Tax LLP as tax services provider; and BDO USA, LLP, as
auditor and accountant.

Munger, Tolles & Olson LLP is serving as the company's independent
counsel, rendering services at the direction of independent
directors Alan Miller and Harvey Tepner.  Berkeley Research Group
is serving as independent financial advisor, rendering professional
services at the direction of the Independent Directors.

Prime Clerk LLC is the claims and noticing agent.

The Ad Hoc Group of Secured Term Loan Lenders tapped Davis Polk &
Wardwell LLP as counsel; and Ducera Partners LLC as financial
advisor.

The Ad Hoc Crossover Group of Secured and Unsecured Term Loan
Lenders tapped King & Spalding LLP as counsel and Guggenheim
Securities, LLC, as financial advisor.

Brigade Capital Management, LP, a party to the RSA tapped Kramer
Levin Naftalis & Frankel LLP as counsel.  

The Official Committee of Unsecured Creditors tapped Akin Gump
Strauss Hauer & Feld LLP as counsel; Houlihan Lokey Capital, Inc.,
as investment banker; and Protiviti Inc. as financial advisor and
forensic accountant.

Sycamore Partners Management, L.P., owner of 90.2% of the equity
interests in the debtors, tapped Proskauer Rose LLP as counsel.
Authentic Brands, which bought Nine West's IP assets, tapped DLA
Piper Global Law Firm as counsel.


NO IFS MONTCLAIR: Subchapter V Plan Confirmed by Judge
------------------------------------------------------
Judge Stacey L. Meisel has entered an order finally approving the
Disclosure Statement and confirming the Plan of debtor No Ifs
Montclair LLC d/b/a Montclair Social Club.

The Court has determined that the requirements for final approval
of the disclosure statement have been satisfied, and the
requirements for confirmation of the plan under 11 U.S.C. Sec. 1129
have been satisfied.

To the extent that the Subchapter V Trustee incurs fees and
expenses between the effective date and the date of Substantial
Consummation, he may seek allowance of such fees and expenses
reasonably necessary to discharge his duties by filing an
additional application for compensation and reimbursement which,
upon allowance by this Court shall be payable as an Administrative
Expense Claim.

The Debtor filed a Small Business Plan of Liquidation.  The Debtor
reached an agreement with Richard Grabowsky t/a Grabowsky
Development (the "Landlord") and Dick Grabowsky, LLC (the "Special
Member") which will result in a sale of the Debtor's assets in
exchange for $450,000 (the "Settlement Funds") in cash and a
release of all of claims by the Landlord and Special Member against
the Debtor, the Debtor's estate, and the Debtor's affiliates (the
"Settlement").  The resulting distribution will amount to payment
in full to all non-equity classes of creditors, including priority
and nonpriority general unsecured. Additionally, the distribution
will provide for a distribution to the Debtor's Equity Interest
Holder.

A full-text copy of the order dated Feb. 23, 2021, is available at
https://bit.ly/3dYNxdy from PacerMonitor.com at no charge.

A copy of the Small Business Plan filed Nov. 19, 2020, is available
at  https://bit.ly/3rbIx95

                    About No Ifs Montclair

No Ifs Montclair LLC DBA Montclair Social Club is a full-service
restaurant in Montclair, New Jersey.  No Ifs Montclair filed
Chapter 11 Petition (Bankr. D.N.J. Case No. 20-19789) on August 21,
2020.  At the time of filing, the Debtor scheduled $1,028,171 total
assets and $461,695 total liabilities.

Counsel for No Ifs Montclair:

     GENOVA BURNS, LLC
     DONALD W. CLARKE, ESQ
     110 Allen Road, Suite 304
     Basking Ridge, NJ  07920
     Phone: (973) 533-0777


NORTHWEST CAPITAL: Taps Colliers International as Real Estate Agent
-------------------------------------------------------------------
Northwest Capital Holdings LLC received approval from the U.S.
Bankruptcy Court for the Northern District of Illinois to employ
Colliers Bennett & Kahnweiler LLC as its real estate agent.

The firm will work with Ten-X to assist in the marketing and sale
of the Westbrook Apartments.  Tyler Hague, senior vice president of
Colliers, and his colleagues at the firm will be responsible for
providing the services.

Colliers will get a commission of 2.25 percent.

Mr. Hague disclosed in a court filing that the firm is a
disinterested person within the meaning of Section 101(14) of the
Bankruptcy Code.

The firm can be reached through:

      Tyler Hague
      Colliers Bennett & Kahnweiler LLC
      dba Colliers International
      6250 N River Rd, Rosemont, IL 60018
      Phone: 847-698-8444

                     About Northwest Capital

Northwest Capital Holdings, LLC is a single asset real estate
debtor (as defined in 11 U.S.C. Section 101(51B)).  Northwest
Capital filed a Chapter 11 petition (Bankr. N.D. Ill. Case No.
20-05334) on Feb. 27, 2020.  At the time of the filing, the Debtor
was estimated to have $10 million to $50 million in assets and $1
million to $10 million in liabilities.  Judge Jack B. Schmetterer
oversees the case.  The Debtor's legal counsel is William J.
Factor, Esq.


OAKSHIRE MUSHROOM: Gets Cash Collateral Access Thru March 27
------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Pennsylvania
has entered a Ninth Bridge Order extending the terms of the Third
Final Order authorizing Oakshire Mushroom Farm, Inc. and Oakshire
Mushroom Sales, LLC to use cash collateral on an interim basis
through March 27, 2021.

The Debtors said they are unable continue the operation of their
business or utilize Cash Collateral pending their negotiations for
the Extension.

The Debtors are authorized to use the Cash Collateral to pay the
expenses incurred by the Debtors in the ordinary course of their
business and in connection with the chapter 11 cases on an extended
basis during the Ninth Bridge Period in compliance with and subject
to the terms of the Third Final Cash Collateral Order and the
Budget as well as to pay any previously approved, but unpaid,
ordinary course expenses in accordance with the terms of the
Court's prior Cash Collateral Orders and approved budget.

A further telephonic hearing, if needed, on the matter is scheduled
for March 24 at 11 a.m.

A copy of the order and the Debtor's budget through the week of
March 27 is available at https://bit.ly/3ux3C01 from
PacerMonitor.com.

                About Oakshire Mushroom Farm, Inc.

Oakshire -- http://www.oakshire.com/-- has been a grower of
specialty mushrooms since 1985.  Its offices are located in Kennett
Square, Pa.

Oakshire Mushroom Farm, Inc., and its affiliate Oakshire Mushroom
Sales, LLC, sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. E.D. Pa. Lead Case No. 18-18446) on Dec. 28, 2018.  At
the time of the filing, each Debtor estimated assets of less than
$1 million and liabilities of $1 million to $10 million.  Judge
Jean K. FitzSimon oversees the cases.  The Debtors tapped Smith
Kane Holman, LLC, as legal counsel.



ONATAH FARMS: Gets Cash Collateral Access Thru March 27
-------------------------------------------------------
The U.S. Bankruptcy Court for the Bankruptcy Court for the Northern
District of Indiana, Fort Wayne Division, has authorized Onatah
Farms LLC and affiliates to use cash collateral on an interim basis
through March 27, 2021.

The Debtors are authorized to use cash collateral to pay the
expenses consistent with the proposed budget.

All payments made to Ag Resource Management LLC or its affiliate
AgriFund LLC or First Financial Bank pursuant to the Budget are
made without prejudice to the rights of the Debtors, a creditor, or
any other party in interest to (a) challenge ARM's right to such
payments or First Financial's right to such payments, (b) challenge
the method of application of such payments to ARM's claims or First
Financial's claims, and (c) assert a superior interest in the cash
collateral used to make such payments to ARM or First Financial.

As adequate protection for the use of cash collateral,
notwithstanding section 552 of the Bankruptcy Code, the liens and
security interests of ARM, First Financial Bank, and any other
creditor with a lien or security interest upon what is or what may
become cash collateral will continue to attach to post-petition
property to the same extent and with the same priority, as to each
specific Debtor, as if the petition had not been filed.

The Debtors are also directed to file operating reports itemizing
the income and expenses paid during the period of February 20 to
March 5 and during the period of March 6 to March 19.

The court will hold a final hearing on the matter on March 23 at 1
a.m.

A copy of the order and the Debtor's budget through May 8 is
available at https://bit.ly/3dO9KuR from PacerMonitor.com.

                       About Onatah Farms LLC

Onatah Farms LLC and its affiliates sought protection under Chapter
11 of the Bankruptcy Code (Bankr. N.D. Ind. Lead Case No. 21-10091)
on Feb. 3, 2021.  Douglas Morrow, member, signed the petitions.

At the time of filing, the Debtor disclosed assets of between $1
million and $10 million and liabilities of between $10 million and
$50 million.

Overturf Fowler LLP and Steeplechase Advisors, LLC serve as the
Debtors' legal counsel and financial advisor, respectively.



ORANGE CAPITAL: Shehu's Bid to Compel Cash Use Denied
-----------------------------------------------------
Judge Elizabeth D. Katz of the U.S. Bankruptcy Court for the
District of Massachusetts denied creditor Joni Shehu's motion to
compel Orange Capital Holdings, LLC to use cash collateral.

Mr. Shehu asked the Court to compel the Debtor to utilize cash
collateral to address secured and priority debts in this case.

Mr. Shehu pointed out that the Debtor's property at 210 Wheeler
Avenue, Orange, Massachusetts, is being leased to Green Karma Farms
LLC at a monthly rental fee of $1,500.  But Michael Koeller, a
manager of the Debtor, testified at the Debtor's Sec. 341 meeting
that Green Karma Farm had no income, did no retail business, and
was merely used for yoga by a small group of friends. Green Karma
Farm has never made, nor makes, any financial contribution to the
Debtor.  He testified to this again, through counsel, at a status
hearing.  

Mr. Shehu noted Mr. Koeller has disclosed he had entered into a
lease agreement with Green Karma Farms presumably to induce the
secured creditors to modify their agreement terms.  Mr. Shehu said
the Debtor has claimed that it has no income, nor any source of
income, to dedicate to a Plan of Reorganization. Rather, the case
has merely been filed for the Debtor to reach new loan terms with
its secured creditors.

Mr. Koeller's email to secured creditors also referenced a short
sale to Green Karma Farm for $315,000 "as a short sale far below
the market value of the property," Mr. Shehu pointed out.

Counsel to Mr. Shehu, however, located social media posts by Green
Karma Farm on both Instagram and Facebook promoting their business,
introducing new retail contributors and vendors and selling yoga
sessions and multi-session packages.  These posts began on or
before September 9, 2020.

"Their Facebook page alone has close to 2,000 followers," Mr. Shehu
said.

"Mr. Koeller was apparently unaware of the retail business taking
place in the building where he resides."

Mr. Shehu also noted Mr. Koeller has testified there is a full
professional kitchen on the premises but that it is not in
operation.  But in a January edition of the Greenfield Recorder, a
local new source, a business article says Green Karma Farm
currently sells "free-range eggs, CBD products, local handmade
jewelry, yoga sessions" and more.

Counsel to Mr. Shehu believes there may be terms of the Promissory
Notes to the secured creditors providing for the turnover of rental
income in the case of a default.

There are also two brokers listing the property, neither approved
by this Court.

The existence of an operating business on this site may indeed
increase the
appraised value.

Mr. Shehu believes that this rental income should be disclosed by
the Debtor.

"If in fact no lease payments have been made the creditors are
entitled to an explanation as to why no lease payments have been
tendered," Mr. Shehu said.

                      Orange Capital Objects

"Joni Shehu appears to be asking this Honorable Court to order the
Debtor to procure permission from this Honorable Court to collect
rents from a Green Karma Farms and then, presumably, use it for
operating expenses. It is a strange Motion in that Shehu appears to
have no secured cash collateral interest whatsoever. Indeed, his
only interest in the Debtor at all is a veiled claim to some type
of ownership interest in the Debtor LLC. If indeed that interest is
actually valid, why file such a Motion?" according to the Debtor.

That said, the Debtor continues to assert that no rent is being
paid and no cash collateral usage required. The kitchen on the
property cannot be licensed for use at this time because of back
taxes owed, the Debtor explained.

The Debtor admits that businesses operating on commercial property
often increase the value of the property (and sometimes they do
not).  The Debtor admits that any rental income being received is
clearly information relevant to the bankruptcy and would be
disclosed as necessary. The Debtor also thinks it is strange that
Mr. Shehu is somehow advocating for creditors who themselves have
not made any claims or concerns about rental income.

The Debtor said it has provided all necessary insurance information
to the U.S Trustee's office and any creditors who have requested
it.

                    About Orange Capital Holdings

Orange Capital Holdings LLC sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. D. Mass. Case No. 20-30544) on November
11, 2020, listing under $1 million in both assets and liabilities.
Ehrhard & Associates, P.C., led by James P. Ehrhard, Esq., serves
as Debtor's legal counsel.



OWENS & MINOR: Moody's Completes Review, Retains B1 CFR
-------------------------------------------------------
Moody's Investors Service has completed a periodic review of the
ratings of Owens & Minor, Inc. and other ratings that are
associated with the same analytical unit. The review was conducted
through a portfolio review discussion held on February 23, 2021 in
which Moody's reassessed the appropriateness of the ratings in the
context of the relevant principal methodology(ies), recent
developments, and a comparison of the financial and operating
profile to similarly rated peers. The review did not involve a
rating committee. Since January 1, 2019, Moody's practice has been
to issue a press release following each periodic review to announce
its completion.

This publication does not announce a credit rating action and is
not an indication of whether or not a credit rating action is
likely in the near future. Credit ratings and outlook/review status
cannot be changed in a portfolio review and hence are not impacted
by this announcement.

Key rating considerations

Owens & Minor, Inc's B1 CFR is constrained by moderate scale and
low margins despite an increasing contribution from its profitable
manufacturing operations. The rating is also constrained by debt
maturities in 2022. Moody's expects that debt to EBITDA will
improve further and remain in the 2.5x to 3.0x range over the next
12-18 months supported by profitability improvement and debt
reduction. The ratings are supported by Moody's view that the
company will continue to expand its manufacturing business while
sustaining positive free cash flow.

The principal methodology used for this review was Distribution &
Supply Chain Services Industry published in June 2018.


PAPER SOURCE: Case Summary & 30 Largest Unsecured Creditors
-----------------------------------------------------------
Lead Debtor: Paper Source, Inc.
             125 South Clark St.
             Chicago, IL 60603

Business Description: The Debtors operate as lifestyle brand and
                      retailer of premium paper products, crafting
                      supplies and related gifts, including custom
                      invitations, greeting cards and personalized
                      stationery and stamps.  Through their 158
                      domestic stores and e-commerce website,
                      the Debtors are an omnichannel provider of
                      fine and artisanal papers, wedding paper
                      goods, books and gift wrap.  The Debtors
                      also provide wedding consultation, crafting
                      supplies and instructions, and subscription
                      services.  The Debtors' administrative
                      headquarters is in Chicago, Illinois.

Chapter 11 Petition Date: March 2, 2021

Court:                United States Bankruptcy Court
                      Eastern District of Virginia

Two affiliates that concurrently filed voluntary petitions for
relief under Chapter 11 of the Bankruptcy Code:

    Debtor                                             Case No.
    ------                                             --------
    Paper Source, Inc. (Lead Case)                     21-30660
    Pine Holdings, Inc.                                21-30661

Judge:                Hon. Keith L. Phillips

Debtors'
Bankruptcy
Counsel:              John C. Longmire, Esq.
                      Matthew A. Feldman, Esq.
                      James H. Burbage, Esq.
                      WILLKIE FARR & GALLAGHER LLP
                      787 Seventh Avenue
                      New York, NY 10019
                      Tel: (212) 728-8000
                      Fax: (212) 728-8111
                      Email: jlongmire@willkie.com
                             mfeldman@willkie.com
                             jburbage@willkie.com

Debtors'
Bankruptcy
Co-Counsel:           Christopher A. Jones, Esq.
                      David W. Gaffey, Esq.
                      Jae Won Ha, Esq.
                      WHITEFORD TAYLOR & PRESTON LLP
                      Two James Center
                      1021 E. Cary Street, Suite 1700
                      Richmond, VA 23219
                      Tel: (804) 977-3300
                      Fax: (804) 977-3299
                      Email: cajones@wtplaw.com
                             dgaffey@wtplaw.com
                             jha@wtplaw.com

Debtors'
Restructuring
Advisor:              M-III ADVISORY, LP
                      1700 Broadway, 19th Floor
                      New York, NY 10019

Debtors'
Investment
Banker:               SSG CAPITAL ADVISORS, LLC
                      300 Barr Harbor, Suite 420
                      West Conshohocken, PA 19428

Debtors'
Real
Estate
Advisor:              A&G REAL ESTATE PARTNERS
                      445 Broadhollow Road, Suite 410
                      Melville, NY 11747

Debtors'
Claims,
Noticing
& Solicitation
Agent:                EPIQ CORPORATE RESTRUCTURING, LLC
                      777 Third Avenue, 12th Floor
                      New York, NY 10017
                    https://dm.epiq11.com/case/papersource/dockets

Estimated Assets: $100 million to $500 million

Estimated Liabilities: $100 million to $500 million

The petitions were signed by Ronald Kruczynski, chief financial
officer.

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

https://www.pacermonitor.com/view/RMQETKI/Paper_Source_Inc__vaebke-21-30660__0001.0.pdf?mcid=tGE4TAMA

https://www.pacermonitor.com/view/GGVAFPY/Pine_Holdings_Inc__vaebke-21-30661__0001.0.pdf?mcid=tGE4TAMA

Consolidated List of Debtors' 30 Largest Unsecured Creditors:

   Entity                          Nature of Claim    Claim Amount
   ------                          ---------------    ------------
1. FedEx Corporation                Trade Payable       $2,198,666
942 South Shady Grove Rd
Memphis, TN 38120
Contact: Frederick W Smith
Chairman/CEO
Tel: 901-818/7500
Fax: 877-229-4766
Email: fwsmith@fedex.com

2. 83 Spring Street Associates LLC       Rent             $871,704
580 Broadway, Suite 1107
New York, NY 10012
Contact: Erez Itzhaki
Email: erez@itzhakiacq.com

3. Hartford Realty Co. LLC               Rent             $702,742
PO Box 1809
Englewood Cliffs, NJ 07632
Tel: 201-871-9000
Fax: 201-871-9000
Email: wolczo@aol.com

4. 125 S. Clark (Chicago) SPE            Rent             $440,164
LLC/CR-Chicago 125 South
Clark Street LLC
c/o DLA Piper LLP (US)
1251 Avenue of the Americas
27th Floor
New York, NY 10020
Email: alexa.steinfatt@commerzreal.com
jacqueline.compton.cbre.com

5. Aptos, LLC                       Trade Payable         $425,495
Dept CH17281
Palatine, IL 60055-7281
Contact: Pete Sinisgalli, CEO
Tel: 845-567-1234
Email: collections@aptos.com

6. Bevill, Inc.                          Rent             $399,086
c/o IDS Real Estate Group
P.O. Box 511350
Los Angeles, CA 90051-7905
Tel: 213-396-9300
Email: pohlmann@idsrealestate.com

7. Metropolitan Transportation           Rent             $374,427
Authority
MTA GCT - General Post Office
PO Box 29592
New York, NY 10087-9592
Tel: 212-878-7000
Email: ryan.kelleher@am.jll.com

8. Fifty Broad Street, Inc.              Rent             $314,383
c/o Cushman & Wakefield
50 Broad Street
New York, NY 10004
Email: joseph.glover@cushwake.com

9. RCPI Landmark Properties, LLC         Rent             $296,340
c/o Tishman Speyer Properties LP
45 Rockefeller Plaza
New York, NY 10111
Email: abersin@tishmanspeyer.com

10. A/R Retail LLC                       Rent             $291,413
c/o Related Urban
Management Company
60 Columbus Circle, 19th Floor
New York, NY 10023
Tel: (212) 801-1000
Email: mkeeler@related.com

11. Rifle Paper Company             Trade Payable         $274,124
PO Box 151553
Altamonte Springs, FL 32716-1553
Contact: Anna Bond, Co-Founder/COO
Tel: 407-622-7679
Email: info@riflepaperco.com

12. LMS Associates LLC                   Rent             $262,268
The Levy Group
1321 1/2 Wisconsin Avenue, NW
Washington, DC 20007
Email: rhlevy@levygroup.com

13. Amcor Packaging                  Trade Payable        $237,748
Distribution/Landsberg
25794 Network PL
Chicago, IL 60673-1257
Tel: 480-333-6660
Fax: 630-629-9770
Email: michael.flood@landberg.com

14. Barnan Associates, LLC               Rent             $233,060
c/o The Olnick Organization, Inc.
135 East 57th Street, 22nd Floor
New York, NY 10022
Tel: (212) 835-2445
Email: sschochet@olnick.com

15. Active Graphics                  Trade Payable        $230,552
5500 West 31st Street
Cicero, IL 60804
Contact: George Hayes, CEO
Tel: 708-656-8900
Fax: 708-656-2176
Email: info@active-us.com

16. Facebook Inc.                    Trade Payable        $228,264
1 Hacker Way
Menlo Park, CA 94025
Contact: Mark Zuckerberg
Founder/Chairman/CEO
Tel: 650-853-1300
Email: zuck@fb.com

17. Accurate Personnel LLC           Trade Payable        $223,017
33 South Roselle Road
Schaumburg, LL 60193
Contact: Robert Migliore, CEO
Tel: 847-310-9100
Fax: 847-310-9284
Email: info@accurateusa.com

18. Chronicle Books                  Trade Payable        $214,942
Department 44493
P.O. Box 44000
San Francisco, CA 94144
Tel: 800-759-0190
Email: hello@chroniclebooks.com

19. Fourth Quarter Properties             Rent            $213,554
XXX, LLC/T-C Forum at Carlsbad LLC
c/o TIAA-CREF
Attn: Global Real Estate Asset
Management
730 3rd Avenue, 14th Floor
New York, NY 10017
Email: john.stevens@am.jll.com

20. Fulfillment America Inc.         Trade Payable        $208,874
17 Progress Road
Billerica, MA 01820
Contact: John Barry Sr,
President/CEO/Dir
Tel: 978-988-7576
Fax: 978-988-7574
Email: shall@fulfillmentamerica.com

21. Reischling Press Inc.            Trade Payable        $205,342
3325 S 116th St
Suite 161
Tukwila, WA 98168
Tel: 206-905-5999
Email: greg.bodhaine@rpiprint.com

22. Olympic Funding, LLC                  Rent            $195,065
c/o United American Land LLC   
73 Springs Street 6th FL
New York, NY 10012
Email: sharon@ualny.com

23. WS/CIP II Tampa Owner LLC             Rent            $162,465
c/o WS Asset Management, Inc.
33 Boylston Street, Suite 3000
Chestnut Hill, MA 04267
Tel: 617-232-8900
Email: jackie.burridgecentamore@wsdevelopment.com

24. Union Station Venture Ltd             Rent            $161,933
PO Box 76111
Baltimore, MD 21275-6111
Tel: (202) 289-1908
Email: zhammer@aacrealty.com

25. Market Street Retail South, LLC       Rent            $154,299
S.R. Weiner & Associates, Inc.
1330 Boylston Street
Suite 212
Chestnut Hill, MA 02467
tel: 617-232-8900
Email: stewart.rappaport@wsdevelopment.com

26. Legacy Place Properties LLC           Rent            $154,245
c/o WS Asset Management, Inc.
33 Boyston Street, Suite 3000
Chestnut Hill, MA 04267
Tel: 617-232-8900
Email: micah.norton@wsdevelopment.com

27. Gibson, Dunn & Crutcher, LLP       Legal Fees         $150,450
PO Box 840723
Los Angeles, CA 90084-0723
Tel: 213-229-7333
Email: cbilling@gibsondunn.com

28. CHS Commercial Owner LLC/             Rent            $148,203
Chestnut Hill Square LLC
c/o New England Development
One Wells Avenue
Newton, MA 02459
Tel: 617-965-8700
Email: akaplan@nedevelopment.com

29. Gilmore Land Co, LLC                  Rent            $148,032
6301 W. 3rd Street
Los Angeles, CA 90036-3154
Tel: 323-939-1191
Email: emauritson@afgilmore.com

30. SGRC 77 LLC                           Rent            $146,181
A New York Limited Liability
Company Having an Office c/o
Bettina Equities Management LLC
230 East 85th Street
New York, NY 10028-3099
Tel: 212-772-8830
Email: bcaiola@bettinaequities.com


PERATON CORP: Moody's Rates $3.7BB First Lien Term Loan 'B1'
------------------------------------------------------------
Moody's Investors Service has assigned a B1 rating to Peraton
Corp.'s planned $3.775 billion delayed draw first lien term loan.
All other ratings, including the B2 Corporate Family Rating, are
unaffected and the rating outlook continues at stable. Proceeds of
the delayed draw term loan along with incremental second lien debt
and newly contributed equity will help fund the pending $7.1
billion acquisition of Perspecta, Inc. which management expects to
close by mid-year. The Perspecta acquisition represents the final
leg of a transformational three-way merger process that began with
Peraton's recent acquisition of Northrop Grumman's federal IT and
mission support services business for $3.4 billion.

According the Moody's lead analyst Bruce Herskovics, "The issuance
of the delayed draw first lien term loan is consistent with the
expectation we had when the CFR was upgraded to B2 from B3 on
February 9th. Through the delayed draw arrangement, Peraton will
not need to later raise another tranche of acquisition related debt
capital, which should make close of the Perspecta transaction less
complex."

RATING RATIONALE

The B2 CFR reflects very high financial leverage and overall credit
metrics that will initially be stretched for the rating. However,
Peraton will have excellent technical qualifications and greater
labor breadth that should dramatically boost the company's
competitiveness. Pro forma for the acquisition, debt to EBITDA will
be about 7x on a Moody's adjusted basis but should decline to 6x
within the first 18 months with free cash flow going toward debt
prepayment.

The B1 rating assigned to the delayed draw first lien term loan,
one notch above the CFR, reflects the presence of loss-absorbing,
second lien debt that benefits the first lien recovery prospects.

The stable rating outlook reflects the de-leveraging that Moody's
envisions and good liquidity. Pro forma for the Perspecta
acquisition, Peraton's revolver commitment will increase to $500
million from $300 million and initial cash on hand will exceed $200
million. The liquidity cushion should give flexibility to focus on
contract performance and new business development activity while
the business integration process takes place.

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

Ratings could be upgraded if Moody's see evidence of a smooth
business integration, as well as compelling revenue and backlog
trends. Additionally, the company would need to reduce financial
leverage with debt to EBITDA approaching 5x, while maintaining good
liquidity.

Ratings could be downgraded if Peraton experiences integration
challenges which result in deteriorating operating performance. In
addition, ratings could be downgraded if the company does not make
meaningful progress in reducing financial leverage with debt to
EBITDA approaching 6x in 2022, or if for any reason liquidity
erodes.

Assignments:

Issuer: Peraton Corp.

Senior Secured Bank Credit Facility, Assigned B1 (LGD3)

Peraton Inc., headquartered in Herndon, Virginia, is a provider of
communications networks and systems, enterprise IT and mission
support for federal agencies. The company is owned by Veritas
Capital. Pro forma revenues are approximately $7 billion.

The methodologies used in this rating were Aerospace and Defense
Methodology published in July 2020.


PHH MORTGAGE: Moody's Assigns B2 Rating to $400MM Secured Debt
--------------------------------------------------------------
Moody's Investors Service has assigned a B2 rating to PHH Mortgage
Corporation's (PMC) planned $400 million 5-year first-lien senior
secured debt issuance. In the same rating action, Moody's affirmed
the company's Caa1 corporate family rating and revised the outlook
to stable from negative.

Moody's also affirmed the ratings of PMC's outstanding $185 million
term loan and Ocwen Loan Servicing's (OLS) second-lien senior
secured debt totaling $292 million. The proceeds from the issuance
will be used to redeem these debts. After redemption of the senior
secured term loan, the planned senior secured debt will have
first-lien priority in PMC's funding structure.

PMC is a wholly-owned operating subsidiary of Ocwen Financial
Corporation, (Ocwen), which in the second quarter of 2019 merged
OLS into PMC, with PMC being the surviving entity.

Assignments:

Issuer: PHH Mortgage Corporation

Senior Secured Regular Bond/Debenture, Assigned B2

Affirmations:

Issuer: PHH Mortgage Corporation

LT Corporate Family Rating, Affirmed Caa1

Senior Secured Bank Credit Facility, Affirmed B2

Issuer: Ocwen Loan Servicing, LLC

Senior Secured Regular Bond/Debenture, Affirmed Caa2

Outlook Actions:

Issuer: PHH Mortgage Corporation

Outlook, Revised To Stable From Negative

RATINGS RATIONALE

The B2 rating assigned to PMC's senior secured notes is based on
PMC's Caa1 corporate family rating and the application of Moody's
Loss Given Default (LGD) for Speculative-Grade Companies
methodology and model, which incorporate their priority of claim
and strength of asset coverage.

The revision of the outlook to stable from negative reflects the
benefit to PMC's caa1 standalone assessment of the refinancing of
its corporate debt, which extends the maturity of that debt and
reduces refinancing risks, providing the firm with the runway to
accomplish its strategic plan to improve profitability. It also
reflects the investment from Oaktree Capital (Oaktree) in the form
of $285 million in secured notes into Ocwen, which will be
subordinated to the new first-lien debt, and the announcement of
Ocwen's mortgage servicing rights (MSR) joint venture with Oaktree,
both of which should help the firm grow its businesses and
establish a more stable earnings profile.

PMC's Caa1 corporate family rating reflects the firm's weak capital
levels. Ocwen's weak capitalization is partly due to the inclusion
of securitized Home Equity Conversion Mortgages (HECMs) and related
liabilities on its balance sheet, as per GAAP accounting standards.
While the company does not own the underlying assets of the
securitizations, as a servicer it is required to repurchase the
FHA-insured HECM mortgages from the Ginnie Mae pools under certain
circumstances. Moody's views the credit risk of securitized HECM
loans to be modest due to the FHA insurance, which carries the full
faith and credit of the US government.

The ratings also reflect recent regulatory developments, including
the resolution of a regulatory matter in Florida in October 2020,
and the risks with respect to yet-unresolved matter regarding the
lawsuit filed in 2017 by the Consumer Financial Protection Bureau
(CFPB) regarding certain legacy servicing activities. The
court-ordered mediation concluded in January 2021 with the parties
unable to reach a settlement. As a result, Ocwen increased its
legal and regulatory accrual related to the CFPB matter by $13.1
million in the fourth quarter of 2020.

The stable outlook reflects Moody's expectation that Ocwen will
maintain stable financial metrics in the next 12-18 months with
respect to capitalization and liquidity, and will continue to make
progress with respect to its strategic plan to improve
profitability.

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

The ratings could be upgraded if the firm's financial performance
improves, as measured by a ratio of net income to average managed
assets consistently above 0.5%.

The ratings could be downgraded if the firm is unable to
sustainably maintain at minimum breakeven profitability
capitalization weakens, as measured by TCE/TMA below 3.0% or in the
event that regulatory action or litigation materially restricts the
company's business activities, or harms its franchise and
reputation, or if the company is subject to additional regulatory
or legal action resulting in material fines or judgments.

The principal methodology used in these ratings was Finance
Companies Methodology published in November 2019.


PHILADELPHIA ENERGY: Blames Mislabeled Pipe for Explosion
---------------------------------------------------------
Law360 reports that the bankrupt former operator of a South
Philadelphia refinery blamed a mislabeled elbow joint for a leak
and explosion that shut down the plant in 2019, and filed suit in
Pennsylvania state court against part supplier Babcock & Wilcox Co.


In a lawsuit filed Friday, February 26, 2021, Philadelphia Energy
Solutions Refining and Marketing LLC said the elbow joint blamed
for the June 21, 2019 blast was made with an alloy that included
nickel and copper -- also known by the trade name "Yoloy" --
instead of the carbon steel intended for that part of the Girard
Point Refinery.

               About Philadelphia Energy Solutions

Headquartered in Philadelphia, Pennsylvania, PES Holdings LLC and
its subsidiaries are owners and operators of oil refining complexes
and have been continuously operating in some form for over 150
years.

PES Energy Inc. is the indirect parent company of Philadelphia
Energy Solutions Refining and Marketing LLC (PESRM).  PESRM owns
and operates the Point Breeze and Girard Point oil refineries
located on an integrated, 1,300-acre refining complex in
Philadelphia.

PES Holdings, LLC, and seven subsidiaries, including PES Energy,
sought Chapter 11 protection (Bankr. D. Del. Lead Case No.
19-11626) on July 21, 2019.

PSE Holdings estimated $1 billion to $10 billion in assets and the
same range of liabilities as of the bankruptcy filing.

The Debtors tapped Kirkland & Ellis LLP as general bankruptcy
counsel; Pachulski Stang Ziehl & Jones LLP as local bankruptcy
counsel; PJT Partners LP as financial advisor; and Alvarez & Marsal
North America, LLC, as restructuring advisor.  Omni Management
Group, Inc., is the notice and claims agent.

The Company's proposed DIP financing lenders are represented by
Davis Polk & Wardwell LLP and Houlihan Lokey Capital, Inc.


PURDUE PHARMA: To Present Chapter 11 Plan in 2 Weeks
----------------------------------------------------
Law360 reports that Purdue Pharma told a New York bankruptcy judge
Monday, March 1, 2021, it will have a Chapter 11 plan to present to
the court within two weeks, although it couldn't say exactly what
will emerge from ongoing talks between it and its creditors.

At a brief virtual hearing, U.S. Bankruptcy Judge Robert Drain
granted the drugmaker the last possible extension in its deadline
to file a Chapter 11 plan in its 18-month old bankruptcy case after
Purdue's counsel said both the company and the parties seeking
damages for its opioid sales are still hard at work overcoming
their last differences.

                    About Purdue Pharma LP

Purdue Pharma L.P. and its subsidiaries --
http://www.purduepharma.com/-- develop and provide prescription
medicines and consumer products that meet the evolving needs of
healthcare professionals, patients, consumers and caregivers.

Purdue's subsidiaries include Adlon Therapeutics L.P., focused on
treatment for Attention-Deficit/Hyperactivity Disorder (ADHD) and
related disorders; Avrio Health L.P., a consumer health products
company that champions an improved quality of life for people in
the United States through the reimagining of innovative product
solutions; Imbrium Therapeutics L.P., established to further
advance the emerging portfolio and develop the pipeline in the
areas of CNS, non-opioid pain medicines, and select oncology
through internal research, strategic collaborations and
partnerships; and Greenfield Bioventures L.P., an investment
vehicle focused on value-inflection in early stages of clinical
development.

Opioid makers in the U.S. are facing pressure from a crackdown on
the addictive drug in the wake of the opioid crisis and as state
attorneys general file lawsuits against manufacturers.  More than
2,000 states, counties, municipalities and Native American
governments have sued Purdue Pharma and other pharmaceutical
companies for their role in the opioid crisis in the U.S., which
has contributed to the more than 700,000 drug overdose deaths in
the U.S. since 1999.

OxyContin, Purdue Pharma's most prominent pain medication, has been
the target of over 2,600 civil actions pending in various state and
federal courts and other fora across the United States and its
territories.

On Sept. 15 and 16, 2019, Purdue Pharma L.P. and 23 affiliated
debtors each filed a voluntary petition for relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No.
19-23649), after reaching terms of a preliminary agreement for
settling the massive opioid litigation. The Debtors' consolidated
balance sheet as of Aug. 31, 2019, showed $1.972 billion in assets
and $562 million in liabilities.

U.S. Bankruptcy Judge Robert Drain oversees the cases.  

The Debtors tapped Davis Polk & Wardwell LLP and Dechert LLP as
legal counsel; PJT Partners as investment banker; AlixPartners as
financial advisor; and Prime Clerk LLC as claims agent.

Akin Gump Strauss Hauer & Feld LLP and Bayard, P.A., represent the
official committee of unsecured creditors appointed in Debtors'
bankruptcy cases.

David M. Klauder, Esq., was appointed as fee examiner. The fee
examiner is represented by Bielli & Klauder, LLC.


QUEST PATENT: Inks $27 Million Agreement With QPRC Affiliate
------------------------------------------------------------
Quest Patent Research Corporation has closed an agreement with an
affiliate of QPRC Finance LLC for the provision to the Company of a
capital facility of up to a $27.0 million.  Concurrent with the
closing, the Company announced the extinguishment of its legacy
secured convertible notes.  The Company also announced the
appointment of an independent director to the Board of Directors
and the engagement of a team of seasoned advisors to help with
ongoing strategic, growth and corporate finance initiatives.  

Jon Scahill, chief executive officer of Quest, stated, "With these
developments, Quest now has the financial resources to continue to
monetize its current portfolio, as well as access to significant
capital with which to continue to build a robust portfolio of
valuable intellectual property.  I am pleased to announce the
engagement of our advisors and new director in that pursuit.  It's
certainly an exciting day for every Quest stakeholder."

$27.0 Million Capital Facility

The Capital Facility will provide up to $27.0 million for the
purchase of intellectual property portfolios with up to $2.0
million being available to the Company's for working capital at its
discretion.  The Capital Facility will be provided by QFL, an
affiliate of a recognized leader in business litigation finance and
is non-recourse to the Company except in certain specified events
of default.  Acquisitions identified by the Company will be subject
to diligence and approval by QFL.  QFL's investment return will
come from a portion of the monetization proceeds generated by the
Company.  QFL and the Company share equally in proceeds after QFL
has received an agreed upon return on capital deployed from the
Capital Facility.  As further consideration for entering into the
Capital Facility, QFL was provided with optional board observation
rights and was granted 10-year warrants to purchase up to
96,246,246 shares of the Company's common stock, subject to certain
beneficial ownership limitations.  A portion of gains realized from
the sale of the shares realized prior to the completion of all
monetization shall be credited toward the investment return due
QFL.

Extinguishment of Legacy Secured Convertible Note

In conjunction with closing on the Capital Facility, the Company's
legacy secured convertible note has been extinguished.  In its
place, the Company has granted the former noteholders a contingent
percentage interest in net monetization proceeds from monetization
of the Company's intellectual property.  This obligation never
matures, contains no conversion rights and, most importantly, bears
no interest or mandatory periodic payment schedule.

Corporate Governance

New Board Member: Mr. Ryan Logue joined the Board of Directors as
an independent director on Feb. 19, 2021.  Mr. Logue, has over 15
years of financial services experience, is currently a wealth
advisor at Lincoln Investments, and will provide the Board with his
insights into both corporate finance and capital raising issues.

New Advisory Agreements: The Company has entered into consulting
agreements with a team of advisors to assist with business
development, financial strategy, and its implementation.  Jeff
Toler, a registered patent attorney and founder of the Toler Law
Group, has over 25 years of intellectual property asset development
and monetization.  William Gates, managing member of Blue Hill
Advisory Partners LLC, is a veteran financial services executive
with over 30 years of corporate finance and banking experience in
New York.  Crystal Nicolson, managing member of FL Capital Assets
LLC, is formerly of North Highland Consulting and CME Group, and
comes with an extensive background in change management for both
industrial and financial services companies, and provides the
Company with over 15 years of experience.

                          About Quest Patent

Quest Patent Research Corporation -- http://www.qprc.com-- is an
intellectual property asset management company.  The Company's
principal operations include the development, acquisition,
licensing and enforcement of intellectual property rights that are
either owned or controlled by the Company or one of its wholly
owned subsidiaries.  The Company currently owns, controls or
manages eleven intellectual property portfolios, which principally
consist of patent rights.

Quest Patent reported a net loss attributable to the Company of
$1.31 million for the year ended Dec. 31, 2019, compared to a net
loss attributable to the company of $2.11 million for the year
ended Dec. 31, 2018.  As of Sept. 30, 2020, the Company had $4.29
million in total assets, $10.83 million in total liabilities, and a
total deficit of $6.53 million.

MaloneBailey, LLP, in Houston, Texas, the Company's auditor since
2013, issued a "going concern" qualification in its report dated
March 27, 2020 citing that the Company has suffered recurring
losses from operations and has a net capital deficiency that raises
substantial doubt about its ability to continue as a going concern.


REDDLINE ENERGY: Gets OK to Hire Simplex Energy as Consultant
-------------------------------------------------------------
Reddline Energy, Inc., received approval from the U.S. Bankruptcy
Court for the Northern District of Texas to hire Simplex Energy
Solutions, LLC as its consultant.

The Debtor, an oil and gas producer, requires a consultant to find
potential buyers for its leases and wells in Gaines County, Texas.

Simplex will receive a 10 percent commission if the assets are sold
for less than $100,000 and a 7 percent commission if they are sold
for less than $500,000.  The firm will also be paid an initial
retainer fee of $1,500.

As disclosed in court filings, Simplex neither holds nor represents
any interest adverse to the Debtor and its bankruptcy estate.

The firm can be reached through:

     Karl J. Reiter
     Simplex Energy Solutions, LLC
     4000 N. Big Spring, Suite 107
     Midland, TX 79705
     Phone: (432) 683-3791
     Fax: (432) 683-5846
     Email: info@simplexenergy.com

                       About Reddline Energy

Reddline Energy, Inc. filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. N.D. Texas Case No.
20-50239) on Dec. 18, 2020.  At the time of the filing, the Debtor
had estimated assets of between $1 million and $10 million and
liabilities of less than $1 million.

Judge Robert L. Jones oversees the case.

The Debtor tapped Mcwhorter Cobb & Johnson, LLP as its legal
counsel, Nathan Owen, CPA as accountant, and Simplex Energy
Solutions, LLC as consultant.


RHINO BARE: Plan Says Unsecureds to Get Full Payment From Galam
---------------------------------------------------------------
Rhino Bare Projects, LLC, filed with the U.S. Bankruptcy Court for
the Central District of California, Los Angeles Division, a Chapter
11 Plan of Reorganization and a Disclosure Statement on Feb. 25,
2021.

This Plan is an operating Plan.  The Debtor has proposed the Plan
to surrender a portion of its assets to secured creditors as
payment in full of their claim(s), with unsecured claims to be
assigned to, and paid by, a third-party.  The Debtor will fund the
Plan from the following sources: (1) the surrender of a portion of
its interest in the holding company known as Canico Capital Group,
LLC to the creditors whose claims are secured by this interest; and
(2) Mike Galam, the third-party who will be responsible for payment
of the Debtor's unsecured claims; and (3) litigation proceeds, if
any from adversary proceeding against Canico (collectively, the
"Assets").

The chapter 11 filing was precipitated by litigation and an
impending sheriff's sale of the Debtor's interest in Canico by
secured creditor Canico. The Debtor has objected to the proof of
claim filed by Canico, which the Debtor anticipates will be
resolved prior to the Effective Date.

The Debtor has also commenced an adversary proceeding against
Canico, West Best Capital Group, LLC and Abraham Assil for breach
of fiduciary duty, accounting and receiver pendente lite. The
Debtor anticipates filing objections to the claims of El Marino,
LLC, IJ Properties, LLC, Knotting Hill, LLC, S double, LLC and
Sefox Investment, LLC, seeking to have their claims disallowed in
full.

The Debtor's objective as a Chapter 11 debtor is to arrange for an
orderly reorganization through the surrender of a portion of its
encumbered asset, and assumption and payment in full of allowed
general unsecured claims by Mike Galam.

Class 7 consists of timely-filed and scheduled general unsecured
claims in the total amount of $2,811,268.  Each allowed general
unsecured creditor will at their option either waive their claim or
their claim will be assigned to and assumed by Mike Galam, and each
allowed general unsecured creditor claim will receive payment in
full of their claim from Mike Galam.  Payments in full will be made
by October 1, 2021. This assumption will be on behalf of Mike Galam
personally and as a new value contribution on behalf of Victor
Galam.

Sole interest holder Victor Galam will retain his interest in the
Reorganized Debtor but will not be allowed to take any
distributions until all secured and unsecured claims are paid in
full.

The Debtor, following the Effective Date, will be referred to as
the Reorganized Debtor. It is estimated the Effective Date will be
July 1, 2021.

A full-text copy of the Disclosure Statement dated Feb. 25, 2021,
is available at https://bit.ly/3qaB9tr from PacerMonitor.com at no
charge.

Attorneys for the Debtor:

      Leslie A. Cohen, Esq.
      J'aime Williams, Esq.
      LESLIE COHEN LAW, PC
      506 Santa Monica Blvd., Suite 200
      Santa Monica, CA 90401
      Telephone: 310.394.5900
      Facsimile: 310.394.9280
      E-mail: leslie@lesliecohenlaw.com
              jaime@lesliecohenlaw.com

                   About Rhino Bare Projects

Rhino Bare Projects LLC filed its voluntary petition for relief
under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Cal. Case No.
20-16889) on July 30, 2020.  In the petition signed by Victor
Galam, managing member, the Debtor estimated $10 million to $50
million in both assets and liabilities.  Judge Sheri Bluebond
presides over the case.  Leslie Cohen, Esq. at LESLIE COHEN LAW PC,
represents the Debtor.


ROCKPORT DEVELOPMENT: Says Tiara Negotiations with Everwin Ongoing
------------------------------------------------------------------
Debtors Rockport Development, Inc., and Tiara Townhomes, LLC,
submitted a First Amended Liquidating Plan and a corresponding
Disclosure Statement on Feb. 25, 2021.

The Bankruptcy Court has scheduled May 20, 2021 at 11:00 a.m.
whether to confirm the Plan. Objections to the confirmation of the
Plan must be filed with the Court by April 15, 2021.

On Feb. 11, 2021, the Debtor filed a motion to approve the sale of
the Monterey Property for $2.6 million, subject to overbid. The
matter is currently set for hearing on March 11, 2021, at 11:00
a.m. As of the date of the filing of the original Disclosure
Statement, the Debtors held $1,007,410.18 in cash, consistent
$462,664.34 held by Rockport and $544,745.84 held by Tiara.

On Feb. 2, 2021, the Court entered an order granting Debtors' FRBP
9019 motion to approve the Jiang Settlement.

On Sept. 4, 2020, Tiara filed a complaint against Everwin to avoid,
recover, and preserve the Everwin Tiara DOT under 11 U.S.C. §§
548, 550, 511, and Cal. Civ. Code Sec. 3439.04 et seq ("Everwin
Adversary"). The Everwin Adversary is ongoing but the parties are
in the midst of settlement negotiations, and hope that an accord
can be reached and approved by this Court prior to the May 20,
2021, hearing on the confirmation of the Plan.  To the extent that
a settlement is reached, and funds held by the Tiara Estate can be
upstreamed to Rockport, the CRO and/or the Disbursing Agent will do
so.

The First Amended Disclosure Statement does not alter the proposed
treatment for unsecured creditors and the equity holder:

     * Each holder of a Rockport Allowed General Unsecured Claim
shall receive, in full satisfaction of its claim against Rockport,
a pro rata share of the net funds generated by the sale of the
Rockport owned properties, if any, after payment in full of
Secured, Administrative and Priority Claims.

     * Each holder of a Tiara Allowed General Unsecured Claim shall
receive, in full satisfaction of its claim against Tiara, a pro
rata share of the net funds available from the sale of the Tiara
Property, if any, after payment in full of Secured, Administrative
and Priority Claims.

     * Kevin Zhang is the sole and 100% equity holder of Rockport.
The CRO believes there will be insufficient funds in the Rockport
Estate such that all unsecured creditors will be paid in full.
Thus, any distribution to Mr. Zhang on account of his equity
interest in Rockport is unlikely.

     * Rockport is the 100% interest holder in Tiara such that any
excess funds from Tiara estate, to the extent they exist, will flow
to the Rockport estate.

The Plan will be funded through cash on hand as of the Effective
Date; the liquidation of property of the Estates with the proceeds
of sales; and any amounts recovered as a result of any avoidance
actions that may be pursued or initiated by the Disbursing Agent.
As of the date of the filing of this Disclosure Statement, the
Debtors hold $1,007,410.18 in cash, consisting of $462,664.34 held
by Rockport and $544,745.84 held by Tiara.

A full-text copy of the First Amended Disclosure Statement dated
Feb. 25, 2021, is available at https://bit.ly/3uJ7LxP from
PacerMonitor.com at no charge.

Attorneys for Debtor:

         MATTHEW W. GRIMSHAW
         DAVID A. WOOD
         LAILA MASUD
         MARSHACK HAYS LLP
         870 Roosevelt
         Irvine, California 92620
         Telephone: (949) 333-7777
         Facsimile: (949) 333-7778
         E-mail: mgrimshaw@marshackhays.com
                 dwood@marshackhays.com
                 lmasud@marshackhays.com

                    About Rockport Development

Rockport Development, Inc., a company based in Irvine, Calif.,
sought protection under Chapter 11 of the Bankruptcy Code (Bankr.
C.D. Cal. Case No. 20-11339) on May 7, 2020.  On June 11, 2020,
Rockport's affiliate Tiara Townhomes LLC filed a Chapter 11
petition (Bankr. C.D. Cal. Case No. 20-11683).

Judge Scott C. Clarkson oversees the cases, which are jointly
administered under Case No. 20-11339.    

At the time of the filing, Rockport was estimated to have $10
million to $50 million in both assets and liabilities.  Tiara
Townhomes LLC disclosed assets of between $1 million and $10
million and liabilities of the same range.

The Debtor has tapped Marshack Hays, LLP as its legal counsel, and
Michael VanderLey of Force Ten Partners, LLC as its chief
restructuring officer.


SANTA MARIA BREWING: 3 More Creditors Appointed to Committee
------------------------------------------------------------
The U.S. Trustee for Region 16 appointed Steve Golis, Stephen
Siemsen and Michael McCormick as new members of the official
committee of unsecured creditors in Santa Maria Brewing Co., Inc.'s
Chapter 11 case.

The committee is now composed of:

     1. Joseph Bertao
        2324 Nightshade Lane
        Santa Maria, CA 93455
        E-mail: joseph.bertao@gmail.com

     2. Steve Knoph
        7120 Valle Avenue
        Atascadero, CA 93422
        E-mail: seatomor@sbcglobal.net

     3. Steven Eric Mussack
        4988 Chancellor Lane
        Eugene, OR 97402
        E-mail: Mussack2@aol.com

     4. Daniel F. Sheehy
        13128 Hartsook, Street
        Sherman Oaks, CA 91423
        E-mail: Danlbrau@yahoo.com

     5. Steve Golis
        1560 Alamo Pintado
        Solvang, CA 93463
        E-mail: sgolis@radiusgroup.com

     6. Stephen Siemsen
        945 Quail Meadows Court
        Orcutt, CA 93455
        E-mail: Shs1954@gmail.com

     7. Michael McCormick
        2053 A Street
        Santa Maria, CA 93455
        E-mail: Mcfranch3@aol.co

                     About Santa Maria Brewing

Santa Maria Brewing Co. Inc. filed its voluntary petition for
relief under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Calif.
Case No. 20-11486) on Dec. 15, 2020.  Byron Moles, chief executive
officer, signed the petition.  In its petition, the Debtor
disclosed $1 million to $10 million in assets and $10 million to
$50 million in liabilities.

Judge Deborah J. Saltzman oversees the case.  Leslie Cohen Law, PC
serves as the Debtor's bankruptcy counsel.

The U.S. Trustee for Region 16 appointed an official committee of
unsecured creditors in the Debtor's Chapter 11 case on Feb. 19,
2021.


SCIENCE APPLICATIONS: Moody's Alters Outlook on Ba2 CFR to Stable
-----------------------------------------------------------------
Moody's Investors Service changed the rating outlook of Science
Applications International Corp ("SAIC" or the "company") to stable
from negative and concurrently affirmed all of its ratings
including the Ba2 corporate family rating. The SGL-2 speculative
grade liquidity rating is unchanged.

According to lead analyst Bruce Herskovics, "Moody's changed the
rating outlook to stable from negative because SAIC's integration
of Unisys Federal has proceeded smoothly and, with recent and
upcoming debt repayment since the March 2020 acquisition, we
anticipate that leverage will decline to low 3x in FY2022." The
change in outlook to stable also considers the company's favorable
financial policy component of its corporate governance. The company
will deploy much of its free cash flow to debt reduction, in
amounts well above contractual amortization, to de-leverage the
capital structure. Doing so will provide capacity at the assigned
rating level for funding future acquisitions and or share
repurchases from free cash flow.

RATINGS RATIONALE

The Ba2 CFR reflects supportive credit metrics and meaningful
annual free cash flow along with good organizational scale within
US defense services, a favorable backlog trend and well recognized
brand name. M&A activities have strengthened SAIC's competitiveness
with market consolidation and increased the proportion of revenue
derived from direct labor rather than from subcontractors and
materials. These changes have laid the foundation for modest EBITDA
margin expansion to close to 10% in FY2022, up from the 9% and
lower level in recent years.

Annual organic revenue contracted by less than one percent in
recent years since FY2019, lagging the market. Revenues should grow
by 3% in FY2022, in line with the market. Revenues will grow more
strongly in FY2023, as SAIC's new business development efforts have
increased the backlog to $23 billion at Q3-FY21, up $6 billion from
mid-year. Moody's anticipates the company's recent bid success will
continue.

Moody's expects SAIC to generate around $325 million in free cash
flow during FY2022; more than half will fund debt reduction,
reducing financial leverage towards 3x (Moody's adjusted basis) by
the end of FY2022, from near 4x at October 2021.

The SGL-2 speculative grade liquidity rating denotes a good
liquidity profile. Free cash flow will be more than four times the
scheduled loan amortization near term. Moody's expect cash will
remain at or above $200 million, enough to cover operational
liquidity needs. SAIC's revolving credit facility commitment is
$400 million and the company does not rely on the facility. With
the profitability that Moody's envisions, the line could be fully
drawn without eroding all financial ratio covenant headroom.

The first lien rating of Ba1, one notch above the CFR, reflects the
presence of effectively junior, unsecured notes. The B1 rating on
the unsecured notes reflects that in a stress scenario that claim
would incur a degree of loss in excess of the family-wide rate.

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

Upward rating momentum would depend on leverage being sustained
below the mid-3x level and continued backlog growth. Along with the
foregoing, free cash flow-to-debt sustained above 15%, EBITDA
margin approaching 11% and cash maintained above $300 million could
support a rating upgrade.

Significant backlog erosion, leverage sustained above 4x, or a
weaker liquidity profile could lead to a ratings downgrade.

The principal methodology used in these ratings was Aerospace and
Defense Methodology published in July 2020.

The following rating actions were taken:

Affirmations:

Issuer: Science Applications International Corp

Corporate Family Rating, Affirmed Ba2

Probability of Default Rating, Affirmed Ba2-PD

Senior Secured Bank Credit Facility, Affirmed Ba1 (LGD3)

Senior Unsecured Regular Bond/Debenture, Affirmed B1 (LGD5)

Outlook Actions:

Issuer: Science Applications International Corp

Outlook, Changed To Stable From Negative

Science Applications International Corporation ("SAIC") is a
provider of technical, engineering and enterprise information
technology services primarily to the US government, including the
Department of Defense and federal civilian agencies. The company
will report fiscal 2021 (January 31 year-end) revenues of about
$7.1 billion.


SCIENTIFIC GAMES: Increases Senior VP's Salary to $500K Per Annum
-----------------------------------------------------------------
Scientific Games Corporation entered into an amendment to its
employment agreement with Michael F. Winterscheidt, senior vice
president and chief accounting officer, to increase his base salary
from $475,000 to $500,000 per annum effective as of Feb. 7, 2021.

                         About Scientific Games

Based in Las Vegas, Nevada, Scientific Games Corporation
(NASDAQ:SGMS) -- http://www.scientificgames.com-- is a developer
of technology-based products and services and associated content
for the worldwide gaming, lottery, social and digital gaming
industries.  Its portfolio of revenue-generating activities
primarily includes supplying gaming machines and game content,
casino-management systems and table game products and services to
licensed gaming entities; providing instant and draw-based lottery
products, lottery systems and lottery content and services to
lottery operators; providing social casino solutions to retail
consumers and regulated gaming entities, as applicable; and
providing a comprehensive suite of digital RMG and sports wagering
solutions, distribution platforms, content, products and services.

Scientific Games reported a net loss of $118 million for the year
ended Dec. 31, 2019, compared to a net loss of $352 million for the
year ended Dec. 31, 2018.  As of Sept. 30, 2020, the Company had
$8.10 billion in total assets, $10.64 billion in total liabilities,
and a total stockholders' deficit of $2.54 billion.


SEADRILL PARTNERS: Taps Lugenbuhl Wheaton as Special Counsel
------------------------------------------------------------
Seadrill Partners LLC and its affiliates seek approval from the
U.S. Bankruptcy Court for the Southern District of Texas to employ
Lugenbuhl, Wheaton, Peck, Rankin & Hubbard as their special
counsel.

The firm's services include:

     a. advising the Debtors with respect to matters of Louisiana
law, including the LOWLA;

     b. advising the Debtors with respect to matters of federal
maritime law;

     c. taking all necessary actions to protect and preserve the
Debtors’ estates, including prosecuting actions on the Debtors'
behalf, defending any action commenced against the Debtors, and
representing the Debtors in negotiations concerning litigation in
which the Debtors are involved, including objections to claims
filed against the Debtors’ estates;

     d. preparing pleadings;

     e. appearing before the bankruptcy court and any appellate
courts to represent the interests of the Debtors' estates; and

     f. other legal services necessary to prosecute the Debtors'
Chapter 11 cases.

The firm will be paid at these rates:

     Partners                      $500 to $700 per hour
     Special Counsel / Associates  $400 to $500 per hour
     Paraprofessionals             $120 per hour

Lugenbuhl received a retainer in the amount of $13,717.

Benjamin Kadden, Esq., a partner at Lugenbuhl Wheaton, disclosed in
a court filing that the firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code.

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

     -- Lugenbuhl Wheaton has not agreed to any variations from, or
alternatives to, its standard or customary billing arrangements for
this engagement;

     -- none of the professionals included in the engagement vary
their rate based on the geographic location of the bankruptcy
case;

     -- the firm has not represented the Debtors in the 12 months
prior to the Debtors' Chapter 11 filing; and

     -- the Debtor has approved a preliminary budget and staffing
plan for the first interim fee period.

Lugenbuhl Wheaton can be reached at:

     Benjamin W. Kadden, Esq.
     Lugenbuhl, Wheaton, Peck, Rankin & Hubbard
     601 Poydras Street, Suite 2775
     New Orleans, LA 70130
     Tel: (504) 568-1990
     Fax: (504) 310-9195
     Email: bkadden@lawla.com

                      About Seadrill Partners

Seadrill Partners LLC (NYSE: SDLP) is a limited liability company
formed bydeepwater drilling contractor Seadrill Ltd.
(OTCMKTS:SDRLF) to own, operate and acquire offshore drilling rigs.
Seadrill Partners was founded in 2012 and is headquartered in
London, the United Kingdom. Seadrill Partners, set up as an
asset-holding unit, owns four drillships, four semi-submersible
rigs and three so-called tender rigs which are all operated by
Seadrill Ltd.

Seadrill Partners LLC and its affiliates sought Chapter 11
protection (Bankr. S.D. Tex. Lead Case No. 20-35740) on Dec. 1,
2020. Mohsin Y. Meghji, authorized signatory, signed the petitions.
Judge Marvin Isgur oversees the cases.

Seadrill Partners disclosed $4,579,300,000 in assets and
$3,122,300,000 in total debts as of June 30, 2020.

The Debtors tapped Kirkland & Ellis LLP, Kirkland & Ellis
International LLP, and Jackson Walker LLP as their bankruptcy
counsel, and Sheppard Mullin Richter & Hampton, LLP as conflicts
counsel.  KPMG LLP provides tax provision and consulting services
to the Debtors.


SHELTON BROTHERS: Seeks to Tap Aaron Posnik & Co. as Auctioneer
---------------------------------------------------------------
Shelton Brothers, Inc. seeks approval from the U.S. Bankruptcy
Court for the District of Massachusetts to employ Aaron Posnik &
Co. Inc. to conduct the public auction of its brewing equipment.

The firm will receive $3,000 for advertising and marketing costs,
$1,500 for the provision of personnel who supervised the inspection
and removal of assets, and $2,500 for the expenses incurred to
prepare the auction.

Aaron Posnik President Paul Scheer disclosed in court filings that
his firm is a "disinterested person" as that term is defined in
Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Paul W. Scheer
     Aaron Posnik & Co. Inc.
     31 Capital Avenue
     West Springfield, MA 01089
     Telephone: (413) 733-5238
     Facsimile: (413) 731-5946

     
                       About Shelton Brothers

Shelton Brothers, Inc. is a beer importing and distributing company
located in Belchertown, Mass.

Shelton Brothers filed a voluntary petition under Chapter 11 of the
Bankruptcy Code (Bankr. D. Mass. Case No. 20-30606) on Dec. 18,
2020.  Shelton Brothers President Daniel W. Shelton signed the
petition.  In the petition, the Debtor disclosed assets of between
$1 million and $10 million and liabilities of the same range.

Judge Elizabeth D. Katz oversees the case.

Andrea M. O'Connor, Esq., at Fitzgerald Attorneys at Law, P.C., is
the Debtor's legal counsel.


SINTX TECHNOLOGIES: Signs Deal to Sell $15M Worth of Common Stock
-----------------------------------------------------------------
SINTX Technologies, Inc. entered into an equity distribution
agreement with Maxim Group LLC, pursuant to which the Company may
sell from time to time, shares of its common stock, $0.01 par value
per share, having an aggregate offering price of up to $15,000,000
million through Maxim, as agent.  On Feb. 25, 2021, the Company
filed a prospectus supplement with the Securities and Exchange
Commission in connection with the Offering under its existing
Registration Statement on Form S-3 (File No 333-249267), which
became effective on Oct. 13, 2020.

Subject to the terms and conditions of the Distribution Agreement,
Maxim will use its commercially reasonable efforts to sell the
Shares from time to time, based on the Company's instructions.
Under the Distribution Agreement, Maxim may sell the Shares by any
method permitted by law deemed to be an "at-the-market" offering as
defined in Rule 415 promulgated under the Securities Act of 1933,
as amended, including, without limitation, sales made directly on
the Nasdaq Capital Market.

The Company has no obligation to sell any of the Shares, and may at
any time suspend offers under the Distribution Agreement.  The
Offering will terminate upon the earlier of (i) the sale of Shares
having an aggregate offering price of $15,000,000 million, (ii) the
termination by either the Agent or the Company upon the provision
of 15 days written notice, or (iii) Feb. 25, 2022.

Under the terms of the Distribution Agreement, Maxim will be
entitled to a transaction fee at a fixed rate of 2.0% of the gross
sales price of Shares sold under the Distribution Agreement.  The
Company will also reimburse Maxim for certain expenses incurred in
connection with the Distribution Agreement, and agreed to provide
indemnification and contribution to Maxim with respect to certain
liabilities under the Securities Act and the Securities Exchange
Act of 1934, as amended.

The Company intends to use the net proceeds from the sale of Shares
for working capital and general corporate purposes.  The Company
may also use a portion of the net proceeds to invest in or acquire
businesses or technologies that the Company believes are
complementary to its own, although the Company has no current
plans, commitments or agreements with respect to any acquisitions
as of the date of this Current Report on Form 8-K.

                       About SINTX Technologies

Headquartered in Salt Lake City, Utah, SINTX Technologies --
https://ir.sintx.com -- is an OEM ceramics company that develops
and commercializes silicon nitride for medical and non-medical
applications.  The core strength of SINTX Technologies is the
manufacturing, research, and development of silicon nitride
ceramics for external partners.  The Company manufactures silicon
nitride material and components in its FDA registered and ISO 13485
certified facility.

SINTX reported a net loss attributable to common stockholders of
$7.50 million for the year ended Dec. 31, 2019, compared to a net
loss attributable to common stockholders of $22.55 million for the
year ended Dec. 31, 2018.  As of Sept. 30, 2020, the Company had
$32.63 million in total assets, $5.10 million in total liabilities,
and $27.54 million in total stockholders' equity.


SYSTEMS INTEGRATORS: Taps Wallace Plese + Dreher as Accountant
--------------------------------------------------------------
Systems Integrators, LLC seeks approval from the U.S. Bankruptcy
Court for the District of Arizona to employ Wallace, Plese +
Dreher, LLP as its accountant.

The Debtor needs an accountant to prepare federal and state returns
and provide other related accounting services.

The hourly rates of the firm's accountants are as follows:

     Christopher E. Coots   $345
     Brandon W. Temple      $270
     Megan E. Miller        $180

Christopher Coots, a partner at Wallace, Plese + Dreher, disclosed
in court filings that the firm is a "disinterested person" as that
term is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Christopher T. Coots
     Wallace, Plese + Dreher, LLP
     8665 E. Hartford Drive, Suite 115
     Scottsdale, AZ 85255
     Telephone: (480) 345-0500
     Email: info@wpdcpa.com

                    About Systems Integrators

Systems Integrators, LLC is a privately owned and operated
manufacturing company that offers custom gasket manufacturing, a
full-service CNC machine shop, machine vision systems or part
inspection equipment, fatigue testing equipment, concentration
analyzers, flow meters, electronic assembly and repair.

Systems Integrators filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. D. Ariz. Case No.
20-12056) on Nov. 2, 2020.  Samuel M. Gaston, managing member,
signed the petition.  In the petition, the Debtor disclosed assets
of between $1 million and $10 million and liabilities of the same
range.

Judge Eddward P. Ballinger Jr. oversees the case.

The Debtor tapped Sacks Tierney P.A. as its legal counsel and
Wallace, Plese + Dreher, LLP as its accountant.


TBAG HOLDINGS: Gets Cash Collateral Access on Final Basis
---------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Texas,
Houston Division, has authorized TBAG Holdings, Inc. to use cash
collateral on a final basis in accordance with the budget, with a
15% variance.

As adequate protection to HSBC Bank USA, National Association -- as
Indenture Trustee under an Indenture dated June 1, 2005, for the
benefit of the Indenture Trustee and holders of the Business Loan
Express Business Loan-Backed Notes, Series 2005-A -- Direct
Capital, and the Small Business Administration -- with pre-petition
loans secured by the Debtor's land, building, and (HSBC Bank only)
all fixtures, equipment, and other property -- the Lenders are
granted, effective as of the Petition Date, valid and automatically
perfected replacement liens co-extensive with and only in the same
validity and priority as their respective pre-Petition liens  equal
to (i) the amount of Cash Collateral actually expended by the
Debtors; and (ii) an amount equaling the aggregate decline in the
value of all real and personal property and assets of the Debtors
not otherwise encumbered by a valid, unavoidable, perfected
pre-Petition lien, and all proceeds, rents or profits thereof, save
and except recoveries and subject to any valid, properly perfected
liens existing as of the Petition Date.

To the extent the Replacement Liens prove insufficient to secure
any diminution in value of the Lenders' interest in the
pre-petition Collateral, resulting from the Debtor's use of Cash
Collateral, the Lenders are granted an administrative priority
claim
pursuant to Section 507(b) of the Bankruptcy Code to secure any
diminution in value.

The Debtor is also directed to  timely pay all post-petition taxes
to the appropriate taxing authority and file appropriate tax
returns and will continue to maintain, with financially sound and
reputable insurance companies, insurance of the kind, covering the
Collateral.

A copy of the Order is available for free at https://bit.ly/3bNr14y
from PacerMonitor.com.

                    About TBAG Holdings, Inc.

TBAG Holdings Inc., dba Dry Cleaning Supercenters, filed a Chapter
11 petition (Bankr. S.D. Tex. Case No. 21-30266) on January 28,
2021, listing $537,535 in total assets and $2,050,341 in total
liabilities.  In the petition signed by J. Christopher Baughman,
president, the Debtor disclosed $537,535 in assets and $2,050,341
in liabilities.

Judge Christopher Lopez oversees the case.

John Akard Jr., Esq., at Coplen & Banks, P.C., serves as counsel to
the Debtor.



TBAG HOLDINGS: Seeks to Hire Coplen & Banks as Bankruptcy Counsel
-----------------------------------------------------------------
TBAG Holdings, Inc. seeks approval from the U.S. Bankruptcy Court
for the Southern District of Texas to hire Coplen & Banks, PC as
its bankruptcy counsel.

The firm's services will include:

  -- advising the Debtor with respect to its powers and duties;

  -- advising the Debtor with respect to the rights and remedies of
creditors and other parties in interest;

  -- conducting appropriate examinations of witnesses, claimants
and other parties in interest;

  -- preparing pleadings and other legal instruments required to be
filed in the Debtor's Chapter 11 case;

  -- representing the Debtor in all proceedings before the court
and in any other judicial or administrative proceeding in which the
rights of the Debtor or the estate may be affected;

  -- representing and advising the Debtor (if appropriate) in the
liquidation of its assets through the bankruptcy court;

  -- advising the Debtor in connection with the formulation,
solicitation, confirmation and consummation of any plan of
reorganization, which the Debtor may propose; and

  -- other legal services that may be appropriate in connection
with the continued operations of the Debtor's businesses.

It is anticipated that John Akard, Jr., Esq., will provide the
majority of the services.  His hourly rate is $350.  The hourly
rates for other attorneys range from $250 to $450.

As disclosed in court filings, Coplen & Banks is a "disinterested
person" within the definition of Section 101(14) of the Bankruptcy
Code.

The firm can be reached through:

     John Akard, Jr.
     Coplen & Banks PC
     11111 McCracken Dr., Suite A
     Cypress, TX 77429
     Telephone: (832) 237-8600
     Facsimile: (832) 202-2088
     Email: johnakard@attorney-cpa.com

                     About TBAG Holdings Inc.

TBAG Holdings Inc., which conducts business under the name Dry
Cleaning Supercenters, filed a Chapter 11 petition (Bankr. S.D.
Tex. Case No. 21-30266) on Jan. 28, 2021.  TBAG Holdings President
J. Christopher Baughman signed the petition.  In the petition, the
Debtor disclosed $537,535 in total assets and $2,050,341 in total
liabilities.  

Judge Christopher M. Lopez oversees the case.

John Akard Jr., Esq., at Coplen & Banks, P.C., serves as the
Debtor's legal counsel.


TBAG HOLDINGS: Seeks to Hire Jester and Jester Tax as Accountant
----------------------------------------------------------------
TBAG Holdings, Inc. seeks approval from the U.S. Bankruptcy Court
for the Southern District of Texas to hire Jester and Jester Tax &
Financial Services, LLC as its accountant.

The firm's services include:

      a. federal and state income tax return preparation;
   
      b. small business accounting services including:

         i. routine bookkeeping;

        ii. monthly account reconciliations;

       iii. preparation of monthly financial statements; and

        iv. preparation of periodic reports and analysis of
financial results;

      c. preparation of monthly operating reports; and

      d. other miscellaneous services as requested by the Debtor.

The firm will be paid a monthly fee of $500.

Jester is a "disinterested person" within the definition of Section
101(14) of the Bankruptcy Code, according to court papers filed by
the firm.

The firm can be reached through:

     Martha C. Jester, CPA
     Jester and Jester Tax & Financial Services LLC
     1305 FM 359 Rd Ste L
     Richmond, TX, 77406-2024
     Phone: (832) 847-4396
     Email: martha@jesterandjesterllc.com

                     About TBAG Holdings Inc.

TBAG Holdings Inc., which conducts business under the name Dry
Cleaning Supercenters, filed a Chapter 11 petition (Bankr. S.D.
Tex. Case No. 21-30266) on Jan. 28, 2021.  TBAG Holdings President
J. Christopher Baughman signed the petition.  In the petition, the
Debtor disclosed $537,535 in total assets and $2,050,341 in total
liabilities.  

Judge Christopher M. Lopez oversees the case.

John Akard Jr., Esq., at Coplen & Banks, P.C., serves as the
Debtor's legal counsel.


TED & STAN'S: Seeks Approval to Hire Joel M. Aresty as Counsel
--------------------------------------------------------------
Ted & Stan's Towing Service, Inc. seeks approval from the U.S.
Bankruptcy Court for the Southern District of Florida to employ
Joel M. Aresty, PA to handle its Chapter 11 case.

The firm will render these legal services:

     (a) advise the Debtor regarding its powers and duties in the
continued management of its business operations;

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

     (c) prepare legal documents necessary in the administration of
the case;

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

     (e) represent the Debtor in negotiation with its creditors in
the preparation of a Chapter 11 plan.

The firm will be compensated at $440 per hour, plus costs.

Joel Aresty, Esq., an attorney at Joel M. Aresty, PA, disclosed in
court filings that his firm is a "disinterested person" as that
term is defined in Section 101(14) of the Bankruptcy Code.

The attorney can be reached at:

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

              About Ted & Stan's Towing Service

Ted & Stan's Towing Service, Inc., a provider of towing services in
Fla., filed its voluntary petition for relief under Chapter 11 of
the Bankruptcy Code (Bankr. S.D. Fla. Case No. 21-10663) on Jan.
26, 2021.  Ted & Stan's President Edwyn Martinez signed the
petition.  In the petition, the Debtor disclosed $970,481 in assets
and $1,718,592 in liabilities.

Judge Jay A. Cristol oversees the case.

Joel M. Aresty, PA serves as the Debtor's legal counsel.


TEREX CORP: Debt Repayment No Impact on Moody's B1 CFR
------------------------------------------------------
Moody's Investors Service said Terex Corporation's ("Terex")
repayment of $200 million on one of its existing term loans using
$100 million of balance sheet cash and $100 million of proceeds
from the sale of Terex Financial Services (TFS) receivables is a
credit positive development for Terex. However, Terex's ratings and
outlook are unaffected at this time, including the corporate family
rating of B1, senior secured rating of Ba2, senior unsecured rating
of B3, and negative outlook. The repayment lowers the company's
financial leverage, which was very high as a result of the
recession. However, pro forma debt-to-EBITDA still remains high at
roughly 7.5x as of December 31, 2020, from about 8.8x prior to the
transaction.

Headquartered in Westport, CT, Terex Corporation (NYSE: TEX) is a
global manufacturer of lifting and material processing products and
services. The company reports in two business segments: Aerial Work
Platforms (AWP) and Materials Processing (MP). Terex generated
revenue of about $3.1 billion in the year ended December 31, 2020.


TERRESTRIAL DEVELOPMENT: Seeks Approval to Tap Bankruptcy Attorney
------------------------------------------------------------------
Terrestrial Development, LLC seeks approval from the U.S.
Bankruptcy Court for the Northern District of California to employ
E. Vincent Wood, Esq., an attorney practicing in Walnut Creek,
Calif., to handle its Chapter 11 case.

Mr. Wood will render these legal services:

     (a) Consult with the Debtor concerning its present financial
situation, realistic achievable goals, and the efficacy of various
forms of bankruptcy as a means to achieve its goals;

     (b) Prepare legal documents;

     (c) Advise the Debtor concerning its duties in its Chapter 11
case;

     (d) Identify, prosecute and defend claims and causes of
actions assertable by or against the Debtor's estate;

     (e) If necessary, prepare and prosecute pleadings to avoid
preferential transfers or transfers deemed fraudulent as to
creditors, objections to claims, and motions for authority to
borrow money, sell property or compromise claims; and

     (g) Take all necessary actions to protect and preserve the
estate.

The attorney received a pre-bankruptcy retainer of $7,500.

Mr. Wood will be compensated at his hourly rate of $425.  He will
be assisted by a paralegal who will be paid at $175 per hour.

In addition, the attorney will seek reimbursement for expenses
incurred.

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

The attorney can be reached at:

     E. Vincent Wood, Esq.
     Law Offices of E. Vincent Wood
     1501 N. Broadway, Suite 261
     Walnut Creek, CA 94596
     Telephone: (925) 278-6680
     Facsimile: (925) 955-1655

                   About Terrestrial Development

Terrestrial Development, LLC filed its voluntary petition for
relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Calif.
Case No. 21-50031) on Jan. 11, 2021.  Joseph Wolff, managing
member, signed the petition.  In the petition, the Debtor disclosed
assets of between $1 million and $10 million and liabilities of the
same range.

Judge Stephen L. Johnson oversees the case.

E. Vincent Wood, Esq., serves as the Debtor's legal counsel.


THERMASTEEL INC: Trustee Has Until April 23 to File Plan
--------------------------------------------------------
Judge Paul M. Black of the U.S. Bankruptcy Court for the Western
District of Virginia has entered an order within which the deadline
for the Chapter 11 Trustee to file a disclosure statement and plan
for debtor Thermasteel, Inc. shall be on or before April 23, 2021.

The Chapter 11 Trustee shall appear and show cause why the case
should not be converted or dismissed on May 3, 2021, at 2:00 p.m.,
in the United States Bankruptcy Court located in Roanoke, Virginia
if the Chapter 11 Trustee fails to timely file a disclosure
statement and plan by the deadline.

Based  on the request of the Chapter 11 Trustee, and the lack of
opposition, the Debtor's Motion to Suspend Chapter 11 Plan
Confirmation  Process is WITHDRAWN and shall be DISMISSED, without
prejudice.

A full-text copy of the order dated Feb. 23, 2021, is available at
https://bit.ly/301ZRBs from PacerMonitor.com at no charge.  

                     About Thermasteel Inc.

Thermasteel, Inc. -- http://www.thermasteelinc.com/-- is a
provider of panelized composite building systems, manufacturing
composite foundation, floor, wall, roof and ceiling panels for
residential, commercial and industrial applications.  Its
pre-insulated steel framing has been used in large military housing
projects in the USA, Germany and Guantanamo Bay, Cuba.  Production
facilities are presently located in USA (Virginia, Alaska), and
Russia, with products being shipped via container to many other
countries.  

Thermasteel sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. W.D. Va. Case No. 18-71461) on Oct. 26, 2018.  At the
time of the filing, the Debtor estimated assets of $1 million to
$10 million and liabilities of the same range.  The case is
assigned to Judge Paul M. Black.  

The Debtor tapped the Law Office of Richard D. Scott as its legal
counsel.

William E. Callahan, Jr. is the Chapter 11 trustee appointed in the
Debtor's case.  The trustee tapped Gentry Locke Rakes & Moore, LLP
as his legal counsel and Hicok, Brown & Company CPAs as his
accountant.


THIRD COAST: Moody's Withdraws B3 CFR Following Debt Repayment
--------------------------------------------------------------
Moody's Investors Service withdrew all of Third Coast Midstream,
LLC's ratings, including its B3 Corporate Family Rating, B3-PD
Probability of Default Rating, and Caa1 senior unsecured notes
rating. The outlook was changed to ratings withdrawn from stable.

RATINGS RATIONALE

Moody's withdrew the ratings because Third Coast has fully repaid
its senior unsecured notes due 2021.

Third Coast, headquartered in Houston, Texas, is a privately-owned
midstream energy company with assets focused on the Gulf of Mexico
and Gulf Coast.


TITAN INTERNATIONAL: Extends BMO Credit Facility Maturity to 2023
-----------------------------------------------------------------
Titan International, Inc. has completed an amendment to its
domestic credit facility with agent BMO Harris Bank N.A. and other
financial institutions with respect to its $125 million revolving
credit facility.  

The amended Credit and Security Agreement was extended for one year
with the new maturity occurring on Feb. 16, 2023.  The amount
available to be borrowed under the amended Credit Facility was
reduced to $100 million at the Company's request to better align
with the current borrowing base consisting of eligible accounts
receivable and inventory balances at certain of its domestic
subsidiaries.  The amended Credit Facility can be expanded through
an accordion provision within the Agreement by up to $50 million.
The amended Agreement otherwise has terms substantially similar to
those contained in the Agreement prior to the amendment.

"Extending the domestic credit facility was important for us to
secure this available capacity to support the growth we are
currently seeing within our business beyond 2021," stated David
Martin, senior vice president and chief financial officer.  "This
transaction provides liquidity through February of 2023 and better
aligns with other maturities around that time which we anticipate
will provide us an opportunity to further address our needs within
the capital structure at that time."

                           About Titan

Titan International, Inc. -- http://www.titan-intl.com-- is a
global manufacturer of off-highway wheels, tires, assemblies, and
undercarriage products.  Headquartered in Quincy, Illinois, the
Company globally produces a broad range of products to meet the
specifications of original equipment manufacturers (OEMs) and
aftermarket customers in the agricultural,
earthmoving/construction, and consumer markets. Titan reported a
net loss of $51.52 million for the year ended Dec. 31, 2019,
compared to net income of $13.04 million for the year ended Dec.
31, 2018.  As of Sept. 30, 2020, the Company had $1.01 billion in
total assets, $822.13 million in total liabilities, $25 million in
redeemable noncontrolling interest, and $169.21 million in total
equity.

                       *   *   *

As reported by the TCR on June 23, 2020, S&P Global Ratings
affirmed its ratings on Titan International Inc., including the
'CCC+' issuer credit rating.  S&P expects weak demand to lower
Titan's profitability, causing negative free operating cash flow
(FOCF) generation in 2020.

As reported by the TCR on May 11, 2020, Moody's Investors Service
downgraded its ratings for Titan International, including the
company's corporate family rating to 'Caa3' from 'Caa1'.  The
downgrades reflect expectations for challenging industry conditions
through 2020 to pressure Titan's earnings and cash flow, resulting
in the company's capital structure remaining unsustainable with
excessive financial leverage above 10x debt/EBITDA likely into 2021
and a weak liquidity profile reliant on external and alternative
funding sources.


TOPBUILD CORP: Moody's Hikes CFR to Ba1 & Rates New Notes Ba2
-------------------------------------------------------------
Moody's Investors Service upgraded TopBuild Corp.'s Corporate
Family Rating to Ba1 from Ba2 and Probability of Default Rating to
Ba1-PD from Ba2-PD. Moody's also assigned a Ba2 rating to
TopBuild's proposed senior unsecured notes. Proceeds from the notes
offering will be used to redeem the company's existing senior
unsecured notes, which Moody's upgraded to Ba2 from Ba3 and will
withdraw upon the notes' full redemption. The outlook is stable.
Finally, Moody's upgraded the company's Speculative Grade Liquidity
rating to SGL-1 from SGL-2.

The upgrade of TopBuild's CFR to Ba1 from Ba2 reflects Moody's
expectation that TopBuild will benefit from positive end market
dynamics, resulting in improvement in all credit metrics.

The stable outlook reflects Moody's expectation that TopBuild will
follow conservative financial policies such as maintaining leverage
below 2.0x. A very good liquidity profile and positive end market
dynamics further support the stable outlook.

The upgrade of the Speculative Grade Liquidity Rating to SGL-1
reflects Moody's view that the company will maintain very good
liquidity over the next two years, generating robust free cash flow
and having ample revolver availability.

The following ratings are affected by the action:

Upgrades:

Issuer: TopBuild Corp.

Corporate Family Rating, Upgraded to Ba1 from Ba2

Probability of Default Rating, Upgraded to Ba1-PD from Ba2-PD

Speculative Grade Liquidity Rating, Upgraded to SGL-1 from SGL-2

Senior Unsecured Notes, Upgraded to Ba2 (LGD5) from Ba3 (LGD5)

Assignments:

Issuer: TopBuild Corp.

Senior Unsecured Notes, Assigned Ba2 (LGD5)

Outlook Actions:

Issuer: TopBuild Corp.

Outlook, Remains Stable

RATINGS RATIONALE

TopBuild's Ba1 CFR reflects Moody's expectation that the company
will benefit from expansion in new home construction, the main
driver of TopBuild's revenue. Moody's has a positive outlook for US
Homebuilding with good growth expected. Moody's projects that
TopBuild will maintain solid credit metrics, such as adjusted
debt-to-LTM EBITDA remaining below 2.0x over the next two years and
adjusted free cash flow-to-debt sustained above 27.5%. Moody's
forecasts good operating performance with adjusted EBITDA margin
sustained at about 17.0% versus 16.3% for LTM Q3 2020. However,
TopBuild remains heavily exposed to the domestic homebuilding
industry, which experienced significant volatility in the past.

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

Factors that could lead to an upgrade:

- Debt-to-LTM EBITDA is sustained below 2.0x

- Preservation of very good liquidity

- A capital structure that ensures maximum financial flexibility

- Maintain conservative financial policies

Factors that could lead to a downgrade:

- Debt-to-LTM EBITDA is sustained above 3.0x

- The company's liquidity profile deteriorates

- Aggressive acquisition or returns to shareholders

TopBuild Corp., headquartered in Daytona Beach, Florida, is the
largest distributor and installer of insulation and related
products in the United States.

The principal methodology used in these ratings was Distribution &
Supply Chain Services Industry published in June 2018.


TUMBLEWEED TINY HOUSE: Cash Collateral Use Through April 30 OK'd
----------------------------------------------------------------
Judge Kimberly H. Tyson of the U.S. Bankruptcy Court for the
District of Colorado authorized Tumbleweed Tiny House Company, Inc.
to use cash collateral from February 1, 2021 through April 30,
2021.

The Debtor and REDI GUNN 1 LLC reached an agreement regarding the
terms and conditions for the Debtor's use of cash collateral.

As adequate protection, REDI was granted a replacement lien and
security interest upon the Debtor’s post-petition assets with the
same priority and validity as REDI’s pre-petition liens to the
extent of the Debtor’s post-petition use of the proceeds of
REDI’s pre-petition collateral.  To the extent that the Adequate
Protection Liens prove to be insufficient, REDI will be granted
superpriority administrative expense claims under section 507(b) of
the Bankruptcy Code.

The Debtor was directed to pay REDI $708.33 per month by the last
day of each month beginning on February 28, 2021 through April 30,
2021, unless the payment schedule is altered by a confirmed plan of
reorganization.  The Debtor was also directed to provide a copy of
its monthly operating report to REDI by the 21st day of each
month.

A full-text copy of the Stipulated Order Authorizing Debtor's Use
of Cash Collateral for the Period of February 1, 2021 Through April
30, 2021, is available for free at https://tinyurl.com/598ca2hd
from PacerMonitor.com.

                    About Tumbleweed Tiny House Company, Inc.

Tumbleweed Tiny House Company, Inc., a manufacturer of tiny house
RVs, sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. D. Colo. Case No. 20-11564) on March 4, 2020.  At the time
of the filing, the Debtor estimated between $500,000 and $1 million
in assets and between $1 million and $10 million in liabilities.

Judge Kimberley H. Tyson oversees the case.

Wadsworth Garber Warner Conrardy, P.C. is the Debtor's legal
counsel.

The Debtor hired Stockman Kast Ryan + Company as its accountant.

In April 2020, the Office of the U.S. Trustee said no official
committee of unsecured creditors has been appointed in the case.



VERICAST CORP: Moody's Rates $1.3BB First Lien Secured Note 'B3'
----------------------------------------------------------------
Moody's Investors Service affirmed Vericast Corp.'s ratings,
including the Caa1 corporate family rating. Moody's also assigned a
B3 rating to Vericast's proposed $775 million amended and extended
term loan due 2026 and $1.3 billion first lien senior secured note
and rated the company's $700 million second lien secures note at
Caa3. The outlook is stable.

The proceeds from the new debt issuance will be used to repay the
existing debt, including the $800 million secured notes due August
2022 and the existing first lien term loan due November 2023 (with
a springing maturity in May 2022) that had $1,434 million
outstanding at year end 2020. The existing term loan and the $800
million secured note ratings will be withdrawn once repaid. Moody's
ratings and outlook are subject to receipt and review of final
documentation.

The affirmation of Vericast's Caa1 CFR reflects the extension of
the company's debt maturity profile in connection with the proposed
refinancing. Following the close, the next debt maturity will be
the $775 million of the amended term loan due 2026. The proposed
refinancing is credit positive because it eliminates near term
refinancing risks and extends access to external liquidity without
materially increasing interest expense or leverage. However,
Vericast remains exposed to significant business risk stemming from
the secular decline in the check and print advertisement business,
and Moody's considers leverage high given these secular risks.

Affirmations:

Issuer: Vericast Corp.

Corporate Family Rating, Affirmed Caa1

Probability of Default Rating, Affirmed Caa1-PD

Assignments:

Issuer: Vericast Corp.

Senior Secured 1st Lien Bank Credit Facility, Assigned B3 (LGD3)

Senior Secured 1st Lien Regular Bond/Debenture, Assigned B3
(LGD3)

Senior Secured 2nd Lien Regular Bond/Debenture, Assigned Caa3
(LGD5)

Outlook Actions:

Issuer: Vericast Corp.

Outlook, Remains Stable

RATINGS RATIONALE

The Caa1 corporate family rating continues to reflect Vericast's
significant level of business risk due to secular declines in both
its check and Valassis' print based advertisement, a
shareholder-friendly financial strategy and governance risks
associated with private-equity ownership. The company's high
leverage and heavy debt service costs limit financial flexibility
to effectively mitigate the structural business risks. The company
has limited product diversity and a concentrated customer base in
the Harland Clarke business. The ratings continues to garner
support from the company's large scale, strong relationships with
its clients and multi-year contracts varying between 2-4 years for
most of its clients, and strong market positions in the print
advertisement and check printing businesses. Management
demonstrated its ability to cut costs and grow revenues
notwithstanding the pressure from declining check volumes in the
past, which had resulted in a good track record of cash flow
generation historically. Vericast believes its focus on helping
financial institution clients grow deposit accounts creates a value
added relationship that improves customer retention.

Check order volumes face secular pressures that Moody's believes
will continue and would likely accelerate due to the wide and
growing adoption of less costly and more convenient electronic,
on-line and mobile payment alternatives. This trend is evidenced by
Vericast's financial institutions check volumes declining at an
average rate of 6.1% for the past three years and 7.5% drop in
2020. Moody's believes that continued pricing increases will
ultimately render check usage prohibitively expensive, with the
potential to accelerate volume declines that will likely lead to
erosion in the company's revenue base. The continual shift to new
technologies continues to pose a threat to the check printing
businesses. The Valassis division faces pressure from the secular
demand shift of advertisers' marketing spend to internet-based /
digital media channels, as well as the ensuing pricing pressure on
traditional print-based media, that was further exacerbated by the
COVID-19 outbreak. The company's digital revenue is growing but is
still small, representing less than 10% of its 2020 revenues.
Moody's does not expect the structural pressures on the company's
business to ease in the future. Any acceleration in the pace of
decline in check or print advertising revenue could exceed any
growth in the much smaller digital revenue.

Revenue concentration in printed checks and related services is
meaningful. The company's top 20 clients accounted for
approximately 34% of its FY2020 revenue, up from 26% and 25% during
2019 and 2018, respectively, with sales to Bank of America and
Wells Fargo representing a significant portion of the company's
revenue in the Harland Clarke segment. Such high customer
concentration in a secularly declining business exposes Vericast to
pricing pressure from large customers and a meaningful loss of
revenue risk should the largest customers choose not to extend
their contracts with Vericast.

Vericast's leverage, with Moody's adjusted Debt/EBITDA at 6.4x at
2020 year-end, is high, particularly in light of a business model
that is in a secular decline. Moody's projects that the company's
leverage will not change materially from its current level absent
aggressive cost reduction, although some volume recovery from the
COVID-related pandemic will support EBITDA and revenue growth in
late 2021 and 2022.

Pro-forma for the recapitalization, Moody's views Vericast
liquidity as adequate. Moody's expect existing cash ($100 million,
pro-forma for the recap), projected free cash generation and
effective availability under the proposed $250 million ABL facility
(undrawn at close) will provide enough liquidity to fund capital
expenditures in the $50-$60 million range, working capital, debt
amortization of $50 million, and basic cash needs over the next
twelve months. Moody's expects the company to generate break-even
to negative free cash flows in 2021.

ESG CONSIDERATIONS

Social risks taken into Vericast's ratings include the
aforementioned evolving demographic and social trends and changing
consumer preferences. In addition, the rating also takes into
account social risk from potential data privacy breaches from a
cyber breach.

Given its private equity ownership, Vericast's corporate governance
risk is high. As part of the proposed recapitalization, the tax
sharing agreement between the parent MacAndrews & Forbes Holdings,
Inc. ("MacAndrews") and its subsidiaries, including Vericast, will
be terminated and the $138 tax receivable owed to Vericast by
MacAndrews will be cancelled on a cashless basis for no
consideration. Moody's views this move as akin to Vericast's FY2017
termination of the $175 million loan to MacAndrew without
repayment. Vericast has a track record of sponsor friendly
transactions that have continued even as the company had
underperformed expectations.

STRUCTURAL CONSIDERATIONS

The instrument ratings reflect the probability of default of the
company, as reflected in the Caa1-PD Probability of Default Rating,
an average expected family recovery rate of 50% at default given
the mix of first and second lien secured debt in the capital
structure, and the particular instruments' ranking in the capital
structure. The proposed $1.3 billion first lien senior secured note
due 2026 and the amended and extended $775 million first lien
secured term loan due 2026 are rated B3 and reflect loss absorption
in a distress scenario from the second lien term loan. Both the
$775 million first lien term loan and the $1.3 billion secured note
are ranked above the $700 million second lien note, resulting in a
one-notch uplift from the CFR under the proposed capital structure.
However, any increase in a proportion of the first lien debt
relative to the second lien note could lead to a downgrade of the
first lien debt rating. The rating on the proposed $700 million of
second lien term loan is Caa3, reflecting its junior position in
the capital structure.

The stable outlook reflects Moody's expectation for a successful
and timely completion of the proposed refinancing. The stable
ratings outlook also incorporates Moody's expectation that Vericast
will conservatively manage its liquidity, return to positive free
cash flow generation in 2022 even on declining revenues and will
continue its cost reductions.

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

Ratings could be upgraded if Vericast demonstrates sustained
organic revenue and EBITDA trends, profitably grows its Digital
Solutions segment such that digital revenue and EBITDA growth more
than offsets a decline in the Print, Payment & Engagement segment.
An upgrade will also require good liquidity with an extended debt
maturity profile, and debt-to-EBITDA below 5x (Moody's adjusted) on
a sustained basis with a financial policy supportive of operating
at such leverage levels.

Ratings could be downgraded should the pace of revenue decline
accelerate and liquidity deteriorate due to continued negative free
cash flow or inability to access its ABL facility. Failure to
refinance the 2022 and 2023 maturities as part of the proposed
refinancing could lead to a downgrade.

The principal methodology used in these ratings was Media Industry
published in June 2017.

Headquartered in San Antonio, TX, Vericast Corp. ("Vericast") is a
provider of check and check related products, direct marketing
services and customized business and home office products. Its
Valassis division offers clients mass delivered and targeted
programs to reach consumers primarily consisting of shared mail,
newspaper and digital delivery in addition to coupon clearing and
other marketing and analytical services. The company's 2020 annual
revenue was $2.6 billion. Vericast is owned by MacAndrews & Forbes
Holdings, Inc. ("MacAndrews"), a wholly owned entity controlled by
Ronald O. Perelman.


VI GROUP: Case Summary & 5 Unsecured Creditors
----------------------------------------------
Debtor: Vi Group Investment, LLC
        127 Perimeter Center West
        Atlanta, GA 30346

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

Chapter 11 Petition Date: March 2, 2021

Court: United States Bankruptcy Court
       Northern District of Georgia

Case No.: 21-51722

Debtor's Counsel: William A. Rountree, Esq.
                  ROUNTREE, LEITMAN & KLEIN, LLC
                  Century Plaza I
                  2987 Clairmont Road, Ste 350
                  Atlanta, GA 30329
                  Tel: 404-584-1238
                  Fax: 404 704-0246
                  E-mail: swenger@rlklawfirm.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Vi To, sole member.

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

https://www.pacermonitor.com/view/DFSHWJI/Vi_Group_Investment_LLC__ganbke-21-51722__0001.0.pdf?mcid=tGE4TAMA


VIDEOMINING CORP: Seeks Fifth Stipulation Hearing Reschedule
------------------------------------------------------------
VideoMining Corporation asks the U.S. Bankruptcy Court for the
Western District of Pennsylvania to reschedule the hearing to
consider approval of its Fifth Stipulation Modifying and Extending
Orders Authorizing DIP Financing and Use of Cash Collateral and
Authorizing Amendment of DIP Loan Documents.

The Debtor filed a Certification of Counsel seeking approval of its
Fifth Stipulation Modifying and Extending Orders Authorizing DIP
Financing and Use of Cash Collateral and Authorizing Amendment of
DIP Loan Documents on February 23, 2021.

Through the Fifth Stipulation, the Debtor sought authorization to
(1) use cash collateral through March 31, 2021; and (2) enter into
an Amendment to its DIP loan documents which would increase its DIP
line of credit to $335,000.

The Fifth Stipulation was agreed to by Enterprise Bank, White Oak
Business Capital, Inc., and the Internal Revenue Service.

On February 24, 2021, the Court entered an Order scheduling a
hearing on the Fifth Stipulation for March 18, 2021.

The Debtor believes that a hearing was scheduled as the Court may
have questions related to certain provisions of the Fifth
Stipulation regarding a proposed cash account to be funded by
Rajeev Sharma, a principal of the Debtor, at Enterprise Bank in the
amount of $125,000, which cash account will serve as additional
collateral for the DIP line increase.

Regarding those questions, the Debtor contends that:

     (a) the cash account is being funded by money that was
contained in Mr. Sharma's LPL IRA as of the date of his Chapter 7
filing on October 5, 2020;

     (b) Mr. Sharma's LPL IRA was identified on his bankruptcy
schedules;

     (c) Mr. Sharma's LPL IRA was exempted on Bankruptcy Schedule C
pursuant to 11 U.S.C. Section 522(d)(12); and

     (d) The deadline to object to Mr. Sharma's exemptions was
February 18, 2021. No objections were filed.

The Debtor wanted to reschedule the hearing of the Fifth
Stipulation for a date as soon as possible as the increase of the
Debtor's DIP line of credit is required for the Debtor to fund its
month-end payroll for the month of February.  "The Debtor would
have preferred to submit that Fifth Stipulation for the Court's
consideration sooner, however, it took substantial time to
negotiate with its major stakeholders regarding the terms contained
in the Fifth Stipulation.  Furthermore, the Debtor was waiting on
certain purchase orders, which may have rendered the DIP Line
increase unnecessary. While the Debtor still anticipates that it
will receive these purchase orders, the timing of their receipt is
challenging to predict and as stated earlier, the funds are needed
now to fund the Debtor's month-end payroll," the Debtor tells the
Court.

A full-text copy of the Debtor's emergency motion is available for
free at https://tinyurl.com/3748bth5 from PacerMonitor.com.

                           *     *     *

In a Proceeding Memo entered on February 26, Judge Gregory L.
Taddonio held that the Certification of Counsel Regarding Fifth
Stipulation and Consent Order Modifying and Extending Orders
Authorizing DIP Financing and Use of Cash Collateral and
Authorizing Amendment of DIP Loan Documents is approved.

                     About VideoMining Corp.

VideoMining Corporation -- http://www.videomining.com/-- is an
in-store behavior analytics for Consumer Packaged Goods (CPG)
manufacturers and retailers.  VideoMining's analytics platform
utilizes a patented suite of sensing technologies to capture
in-depth shopper behavior data. These previously unmeasured
insights are then integrated with multiple other data sources such
as transactions, planograms, product mapping, loyalty and
promotions to fuel comprehensive solutions for optimizing shopper
experience and sales performance.

VideoMining Corporation filed a Chapter 11 petition (Bankr. W.D.
Pa. Case No. 20-20425) on February 4, 2020. In the petition signed
by Rajeev Sharma, chief executive officer, the Debtor was estimated
to have between $10 million and $50 million in assets and between
$1 million and $10 million in liabilities.  

Judge Gregory L. Taddonio oversees the case. The Debtor tapped
Robert O Lampl Law Office as the legal counsel and Onmyodo, LLC as
financial consultant, and ICAP Patent Brokerage LLC to market its
patents.

Counsel for Enterprise Bank are William E. Kelleher, Jr., Esq.,
Thomas D. Maxson, Esq., and Daniel P. Branagan, Esq., at DENTONS
COHEN & GRIGSBY P.C.

Counsel for White Oak Business Capital, Inc., are Jeffrey M.
Rosenthal, Esq., at MANDELBAUM SALSBURG P.C.; and George T. Snyder,
Esq., at STONECIPHER LAW FIRM.



VPR BRANDS: Issues $100K Promissory Note to CEO
-----------------------------------------------
VPR Brands, LP issued on Feb. 25, 2021, a promissory note in the
principal amount of $100,001 to Kevin Frija, the Company's chief
executive officer, president, principal financial officer,
principal accounting officer and Chairman of the Board, and a
significant stockholder of the Company.  The principal amount due
under the Note bears interest at the rate of 24% per annum, and the
Note permits Mr. Frija to deduct one ACH payment from the Company's
bank account in the amount of $500 per business day until the
principal amount due and accrued interest is repaid.  Any unpaid
principal amount and any accrued interest is due on Feb. 25, 2022.
The Note is unsecured.

                           About VPR Brands

Headquartered in Ft. Lauderdale, FL, VPR Brands --
http://www.VPRBrands.com-- is a technology company whose assets
include issued U.S. and Chinese patents for atomization-related
products, including technology for medical marijuana vaporizers and
electronic cigarette products and components.  The Company is also
engaged in product development for the vapor or vaping market,
including e-liquids, vaporizers and electronic cigarettes (also
known as e-cigarettes) which are devices which deliver nicotine or
cannabis and cannabidiol (CBD) through atomization or vaping, and
without smoke and other chemical constituents typically found in
traditional products.

As of June 30, 2020, the Company had $1.11 million in total assets,
$3.26 million in total liabilities, and a total stockholders'
deficit of $2.15 million.

Prager Metis CPA's LLC, in Hackensack, New Jersey, the Company's
auditor since 2018, issued a "going concern" qualification in its
report dated June 9, 2020, citing that the Company incurred a net
loss of $1,179,010 for the year ended Dec. 31, 2019 and has an
accumulated deficit of $9,778,394 and a working capital deficit of
$1,704,753 at Dec. 31, 2019.  These factors, among others, raise
substantial doubt regarding the Company's ability to continue as a
going concern.


WAVE COMPUTING: Exits Chapter 11 Bankruptcy as MIPS
---------------------------------------------------
On March 1, 2021, Wave Computing, Inc. and its subsidiaries
including MIPS Tech, the processor technology company focused on
the commercialization of RISC-based processor architectures and IP
cores, emerged from Chapter 11 bankruptcy protection.

Going forward, the restructured business ("the Company") will be
known as MIPS, reflecting the Company's strategic focus on the
groundbreaking RISC-based processor architectures which were
originally developed by MIPS. MIPS is developing a new
industry-leading standards-based 8th generation architecture, which
will be based on the open source RISC-V processor standard.

The emergence follows the approval of the Company's Chapter 11 plan
of reorganization on February 10, 2021 by the United States
Bankruptcy Court for the Northern District of California. Under the
approved plan, a wide majority of creditors will receive a
meaningful recovery.

After a thorough marketing process and a bankruptcy auction held in
December 2020, Tallwood Venture Capital ("Tallwood") emerged as the
winner with a restructuring bid valued at $61 million. Tallwood
will take majority ownership of the reorganized company. Sanjai
Kohli will continue to lead MIPS as CEO.

"Now that we have completed our Chapter 11 restructuring, I'm
looking forward to growing our business and executing on our
go-forward strategy," said Mr. Kohli. "We have an incredible
opportunity with our valuable MIPS architectures to scale this
technology for a wide range of new customers. I would like to thank
our whole team for their hard work and patience during the Chapter
11 process, and our advisors for guiding us to a successful
outcome."

"After working closely with all our stakeholders over the past
several months, we arrived at a plan that will generate a strong
recovery for creditors and put MIPS on solid financial footing for
the future," said Larry Perkins, Chief Restructuring Officer of
MIPS. "This is a valuable business with incredible potential, and
has emerged from bankruptcy as a much stronger company. I can't
wait to see what Sanjai and the team accomplish."

During the Chapter 11 process, a team from Sidley Austin LLP led by
Sam Newman served as legal counsel to Wave and MIPS;
SierraConstellation Partners served as financial and restructuring
adviser; and Armory Securities served as investment banker. Robert
G. Harris from the Silicon Valley bankruptcy boutique, Binder &
Malter LLP, served as counsel to Tallwood.

                  About Wave Computing Inc.

Wave Computing, Inc. -- https://wavecomp.ai -- is a Santa Clara,
Calif.-based company that revolutionizes artificial intelligence
(AI) with its data flow-based solutions.  

Wave Computing and its affiliates sought protection under Chapter
11 of the Bankruptcy Code (Bankr. N.D. Cal. Lead Case No. 20 50682)
on April 27, 2020. At the time of the filing, Debtors had estimated
assets of between $1 million and $10 million and liabilities of
between $50 million and $100 million.  

Judge Elaine M. Hammond oversees the cases.

The Debtors have tapped Sidley Austin, LLP as their bankruptcy
counsel, Affeld Grivakes LLP as conflict counsel, Paul Weiss
Rifkind Wharton & Garrison LLP as special counsel. Lawrence
Perkins, chief executive officer of SierraConstellation Partners
LLC, is the Debtors' chief restructuring officer.

The Office of the U.S. Trustee appointed a committee of unsecured
creditors on May 18, 2020. The committee is represented by Hogan
Lovells US, LLP.

On Nov. 20, 2020, the Court approved the Fifth Amended Disclosure
Statement for the Joint Chapter 11 Plan of Reorganization for Wave
Computing, Inc. and its Debtor Affiliates.

                           About MIPS

MIPS is a leading provider of RISC-based processor architectures
and IP cores that drive some of the world's most popular products.
With the streamlined MIPS RISC-based architecture and CPU cores,
semiconductor designers can create efficient, scalable and trusted
products across a wide range of performance points – from the IoT
Edge to high-end networking equipment, and everything in between.

                          About Tallwood

Tallwood Venture Capital focuses on investments in differentiated
technologies and products in the semiconductor industry. By
offering deep semiconductor knowledge, direct operating experience
and a high degree of availability, Tallwood builds close, active
working relationships with its portfolio companies.


WB BRIDGE: Committee Seeks to Hire SilvermanAcampora as Counsel
---------------------------------------------------------------
The official committee of unsecured creditors appointed in the
Chapter 11 cases of WB Bridge Hotel LLC and 159 Broadway Member LLC
seeks approval from the U.S. Bankruptcy Court for the Southern
District of New York to employ SilvermanAcampora, LLP as legal
counsel.

SilvermanAcampora will render these legal services:

     (a) advise the committee regarding its rights, duties, and
power in the Debtors' bankruptcy cases;

     (b) review, analyze and respond, as necessary, to all
applications, orders, statements and schedules filed with the
court;

     (c) review, analyze and respond, as necessary, to liens
asserted against the Debtors' assets;

     (d) assist the committee in its consultations with the Debtors
relative to the administration of the bankruptcy cases;

     (e) assist the committee in analyzing the claims of creditors
and in negotiating with such creditors;

     (f) assist with the committee's investigation of the acts,
conduct, assets, liabilities and financial condition of the
Debtors;

     (g) assist the committee in its analysis and negotiations with
the Debtors for any third party concerning matters related to the
realization by creditors of a recovery on claims and other means of
realizing value in these bankruptcy cases;

     (h) review with the committee whether a Chapter 11 plan should
be filed by the committee or some other third party and, if
necessary, draft a plan and disclosure statement;

     (i) assist the committee with respect to consideration by the
bankruptcy court of any disclosure statement or plan prepared or
filed;

     (j) assist and advise the committee with regard to its
communications to the general creditor body regarding the
committee's recommendations on any proposed Chapter 11 plan or
other significant matters;

     (k) represent the committee at all hearings and other
proceedings;

     (l) assist the committee in its analysis of matters relating
to the legal rights and obligations of the Debtors in respect of
various agreements and applicable laws;

     (m) review and analyze all applications, orders, statements,
and schedules filed with the bankruptcy court and advise the
committee as to their propriety; and

     (n) assist the committee in preparing pleadings and
applications as may be necessary in furtherance of the committee's
interests and objectives.

SilvermanAcampora will compensated at its customary hourly rates
and will be reimbursed for its out-of-pocket expenses.

Brian Powers, Esq., a member of SilvermanAcampora, disclosed in
court filings that the firm is a "disinterested person" as that
term is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Ronald J. Friedman, Esq.
     Brian Powers, Esq.
     Haley L. Trust, Esq.
     SilvermanAcampora LLP
     100 Jericho Quadrangle, Suite 300
     Jericho, NY 11753
     Telephone: (516) 479-6300

                       About WB Bridge Hotel

WB Bridge Hotel LLC and 159 Broadway Member LLC are the owners of a
hotel and residential tower project in Brooklyn's hip Williamsburg
neighborhood.  The project covers a planned 26-story tower at 159
Broadway in Brooklyn, N.Y., that includes apartments and a 235-room
hotel across the street from the legendary Peter Luger Steakhouse.

The Debtors are affiliated with Hollywood, Fla.-based GC Realty
Advisors LLC.  They are also affiliated with 85 Flatbush RHO Mezz
LLC, the owner of the Tillary Hotel Brooklyn, located at 85
Flatbush Extension, Brooklyn, N.Y.

WB Bridge Hotel and 159 Broadway Member sought Chapter 11
protection (Bankr. S.D.N.Y. Lead Case No. 20-23288) on Dec. 21,
2020.  The Debtors were each estimated to have $10 million to $50
million in assets and liabilities.

Judge Robert D. Drain oversees the cases.

Robinson Brog Leinwand Greene Genovese & Gluck PC is the Debtors'
legal counsel.

The U.S. Trustee for Region 2 appointed an official committee of
unsecured creditors in the Debtors'  Chapter 11 cases.  The
committee tapped SilvermanAcampora, LLP as its legal counsel.


WELLDYNERX LLC: Moody's Completes Review, Retains B3 CFR
--------------------------------------------------------
Moody's Investors Service has completed a periodic review of the
ratings of WellDyneRx, LLC and other ratings that are associated
with the same analytical unit. The review was conducted through a
portfolio review discussion held on February 23, 2021 in which
Moody's reassessed the appropriateness of the ratings in the
context of the relevant principal methodology(ies), recent
developments, and a comparison of the financial and operating
profile to similarly rated peers. The review did not involve a
rating committee. Since January 1, 2019, Moody's practice has been
to issue a press release following each periodic review to announce
its completion.

This publication does not announce a credit rating action and is
not an indication of whether or not a credit rating action is
likely in the near future. Credit ratings and outlook/review status
cannot be changed in a portfolio review and hence are not impacted
by this announcement.

Key rating considerations

WellDyneRx, LLC's B3 Corporate Family Rating is constrained by the
company's small market position compared to leading national
pharmacy benefit managers (PBMs). The rating also reflects recent
profit pressure related to amounts collectible from the company's
rebate aggregator, and high financial leverage. The PBM industry
faces event risk related to US drug pricing initiatives that could
emerge at the regulatory or legislative level. Tempering these
risks, WellDyneRx's customer diversity will remain good, and
financial leverage will steadily decline due to earnings growth.

The principal methodology used for this review was Distribution &
Supply Chain Services Industry published in June 2018.


WEST DEPTFORD: Moody's Lowers Debt Facilities to B1, Outlook Neg.
-----------------------------------------------------------------
Moody's Investors Service downgraded West Deptford Energy Holdings,
LLC's (WDE or the Borrower) senior secured credit facilities to B1
from Ba3. The debt facilities consist of a $445 million 7-year
senior secured term loan due 2026 and a $55 million 5-year senior
secured revolving credit facility due 2024. The outlook was changed
to negative from stable.

The Borrower owns the West Deptford Energy Station (the Project), a
744 MW gas-fired combined cycle electric generating facility
located in West Deptford Township, New Jersey, which is in PJM
Interconnection's EMAAC capacity pricing zone.

RATINGS RATIONALE

The rating downgrade to B1 reflects the Project's weak financial
performance in 2020; Moody's expectation for performance to improve
to 'B' level metrics in 2021; increased merchant exposure due to
the expiration of the revenue put in December 2020; thin cushion
relative to the credit agreement financial covenant ratio as of
December 2020; and increasing refinancing risk. Additionally, the
downgrade reflects the challenging pricing environment that
resulted in a run-rate capacity factor of 33% rather than the
expected 65-70% capacity factor.

WDE's energy margin compression in 2020 is due to low power and
natural gas prices. Additionally, its position on the New Jersey
side of the NJ/PA border puts it at a cost disadvantage to its
PA-based competitors, because all New Jersey gas plants are
required to pay an emissions charge under the Regional Greenhouse
Gas Initiative (RGGI). New Jersey is a current participant in RGGI,
while Pennsylvania is not expected to join RGGI until 2023.
Management estimates that RGGI emissions charges add roughly $3/MWh
to its operating expenses.

Weak energy margins are the primary reason for WDE's financial
performance, with Moody's adjusted credit metrics of 1.24x debt
service coverage ratio (DSCR), 2.64% Project cash flow from
operations (PCFO) to Debt and 10.3x Debt/adjusted EBITDA leverage
for the last twelve months ending September 2020. WDE's reported
DSCR (per its credit agreement) was 1.17x for the 2020 calendar
year, a thin 6% cushion over its 1.1x financial covenant ratio
indicative of the asset's eroding resiliency and heightened
merchant risk with the expiration of the revenue put in December
2020.

In 2021, Moody's forecasts modest energy margin expansion over 2020
levels as higher natural gas prices drive power prices higher
year-over-year. Moody's projected credit metrics for the year
improve to 1.8x DSCR, 7% PCFO/Debt, and 7x leverage. These
projections incorporate a forecasted capacity factor of 30-35% of
the plant in 2021. While the project is able to service its debt,
Moody's expect modest forward deleveraging and continued energy
margin uncertainty pressuring cash flows all of which heightens
refinancing risk.

Factors supporting WDE's credit quality include its competitive
position in the EMAAC capacity pricing zone which affords it
premium pricing. The plant is a 2014-vintage combined cycle gas
turbine with a competitive -7,000 BTU/kWh baseload heat rate, and a
solid operational track record. The project also enjoys pipeline
diversity with access to natural gas from both the Transco Zone 6
Non-New York and TETCO M3 pipelines, with firm transportation
contracted with South Jersey Resources Group and Mercuria Energy
America, Inc.

PJM expects to conduct the belated capacity auction in May 2021 for
the 2022/2023 period and at approximately six months increments
thereafter until it re-establishes pricing on a rolling four-year,
forward looking basis. The outcome of these auctions will likely
have a significant impact on the borrower's longer term prospects.

RATING OUTLOOK

The negative outlook reflects Moody's expectations for energy
margins to remain weak in 2021 given increased merchant risk and
ongoing exposure to RGGI. Financial metrics should improve over
2020 results to levels more appropriate for the B rating category,
with DSCR comfortably above 1x, PCFO/Debt in the 5-10% range and
Debt to EBITDA between 6-9x.

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

Factors that could lead to a rating upgrade

In light of the negative outlook, limited prospects exist for the
rating to be upgraded in the short-term. The rating could be
stabilized if WDE is able to produce metrics in-line with our 2021
projections, which are in the B rating category. The rating could
also be stabilized if the May 2021 PJM capacity auction result for
EMAAC produces pricing in the $160-180/MW range. Additional credit
upside could occur if Pennsylvania's entrance into RGGI results in
stronger energy margins for the Project.

Factors that could lead to a rating downgrade

The rating could be downgraded if Moody's calculated DSCR remains
below 1x. The rating could also be downgraded if the upcoming PJM
capacity auction results in unattractive prices well below previous
years, if energy margins continue to decline, if the project
experiences a major operating problem or if WDE's financial
performance fails to improve over 2020 year end levels.

PROFILE

West Deptford Energy Holdings, LLC owns the West Deptford Energy
Station, a 744 MW gas-fired combined cycle electric generating
facility located in West Deptford Township, NJ. It is a merchant
power plant located in PJM Interconnection's EMACC capacity price
zone. West Deptford's sponsor group includes LS Power, along with
subsidiaries of Marubeni Corporation (Baa2 stable), Kansai Electric
Power Company, Incorporated (A3 negative), Ullico, Arctic Slope,
Prudential/Lincoln, and Sumitomo Corporation (Perennial, Baa1,
stable).

METHODOLOGY

The principal methodology used in these ratings was Power
Generation Projects Methodology published in July 2020.


WILDFIRE INC: Cash Collateral Use Allowed Until May 23
------------------------------------------------------
Judge Sandra R. Klein of the U.S. Bankruptcy Court for the Central
District of California, Los Angeles Division, authorized Wildfire
Inc. to use cash collateral on a final basis until May 23, 2021.

The Debtor, JPMOrgan Chase Bank, NA and the United States Small
Business Administration entered into a Stipulation to resolve the
Debtor's cash collateral motion on a final basis.  The Stipulation
was approved by the Court.

Chase and the SBA will continue to receive, as adequate protection,
replacement liens in postpetition Cash Collateral, up to the amount
of any reduction or impairment of prepetition collateral but only
to the same extent, applicability and validity as their equivalent
prepetition liens.

The Debtor was directed to make adequate protection payments to
Chase in the amount of $800 per month, commencing March 10, 2021,
and continuing on the 5th day of each month thereafter until the
earlier of: (i) the effective date of any confirmed Chapter 11 plan
of reorganization: (ii) dismissal of this case; (iii) the
Debtor’s default and failure to cure the same with respect to any
term, provision or condition of the Stipulation; (iv) conversion of
this case to one under Chapter 7 of the Bankruptcy Code; or (v) the
Court orders otherwise.

A full-text copy of the Order Granting Cash Collateral Motion on a
Final Basis on the Terms and Conditions Set Forth in the
Stipulation (1) Authorizing Debtor to Use Cash Collateral on a
Final Basis; and (2) Granting Adequate Protection to Secured
Creditors is available for free at https://tinyurl.com/jnsa3j93
from PacerMonitor.com.

                    About Wildfire Inc.

Wildfire Inc. -- https://wildfirelighting.com -- has focused on
creating innovative products designed to produce
audience-captivating black light visual effects.

Wildfire filed its voluntary petition for relief under Chapter 11
of the Bankruptcy Code (Bankr. C.D. Calif. Case Np. 21-10161) on
Jan. 11, 2021.  John Berardi, chief executive officer, signed the
petition.  At the time of filing, the Debtor disclosed $1,166,843
in assets and $738,105 on liabilities.

Judge Sandra R. Klein presides over the case.  Portillo Ronk Legal
Team serves as the Debtor's legal counsel.



WILLCO XII: Gets Cash Collateral Access Thru March 31
-----------------------------------------------------
The US Bankruptcy Court for the District of Colorado has authorized
Willco Development, LLLP to continue using cash collateral on an
interim basis through March 31, 2021 in accordance with the
budget.

As previously reported by the Troubled Company Reporter, the Debtor
and FirstBank, a Colorado banking corporation, entered into a
Stipulation regarding the extension of Willco's use of cash
collateral and providing adequate protection.

The Debtor is also authorized to pay its accountant, Kevin Shaw, up
to $4,145, when and if the Debtor's pending Interim Application for
Accountant Fees (Docket No. 132) is approved.

A copy of the Order is available at https://bit.ly/3uCecCP from
PacerMonitor.com.

            About Willco Development, LLLP

Willco XII Development, LLLP, owns the hotel property at 4851
Thompson Parkway, in Johnstown Colorado, currently identified as
the Comfort Inn & Suites in Johnstown.  The company is a unit of
William G. Albrecht's Spirit Hospitality, LLC.

Willco XII Development sought Chapter 11 protection (Bankr. D.
Colo. Case No. 20-16307) on Sept. 23, 2020, to stop its lender from
foreclosing on the property.

The Debtor disclosed $14.2 million in assets and $10.274 million in
liabilities as of the bankruptcy filing.  The Debtor's property is
valued at $13 million and secures a $6.4 million first mortgage to
the FirstBank of Colorado and a $3.46 million second mortgage to
Wells Fargo.

Lance J. Goff represents the Debtor as the counsel.

FirstBank, as lender, is represented by Chad Caby, Esq. at LEWIS
ROCA ROTGHERBER CHRISTIE LLP.



YUNHONG CTI: Appoints Former CEO as Director
--------------------------------------------
The board of directors of Yunhong CTI Ltd. appointed Frank Cesario,
the Company's former president, chief executive officer and chief
financial officer as a director and member of the Board's audit
committee to fill the vacancy caused by Bret Tayne's resignation.
In addition, the Board appointed Wan Zhang, a current member of the
Board, to serve as Chairperson of the Audit Committee.

In September 2020, Mr. Cesario joined Radiac Abrasives, Inc. as its
chief financial officer.  On Sept. 10, 2020, Mr. Cesario resigned
from all positions with the Company after serving as the Company's
chief financial officer from Nov. 20, 2017 until June 2020, a
director of the Company since Dec. 31, 2019, and as the Company's
president and chief executive officer since Jan. 2, 2020.  Mr.
Cesario brings nearly 20 years of CFO and controller experience at
manufacturing entities.  Prior to joining the Company, Mr. Cesario
served in such roles with Nanophase Technologies Corporation and
ISCO International, Inc., publicly traded global suppliers of
advanced materials and telecommunications equipment, respectively,
as well as Turf Ventures LLC, a privately held chemicals
distributor.  He began his career with KPMG Peat Marwick and then
served in progressively responsible finance positions within
Material Sciences Corporation and Outokumpu Copper, Inc.  Mr.
Cesario holds an MBA (Finance) from DePaul University and a B.S.
(Accountancy) from the University of Illinois, and is a registered
CPA in the State of Illinois.

                      About Yunhong CTI Ltd.

Yunhong CTI Ltd. fka CTI Industries is a manufacturer and marketer
of foil balloons and producer of laminated and printed films for
commercial uses.  Yunhong CTI also distributes Candy Blossoms and
other gift items and markets its products throughout the United
States and in several other countries.  For more information about
its business, visit its corporate website at
www.ctiindustries.com.

Yunhong CTI reported a net loss of $8.07 million for the year ended
Dec. 31, 2019, compared to a net loss of $3.74 million for the year
ended Dec. 31, 2018.  

RBSM, the Company's auditor since 2019, issued a "going concern"
qualification in its report dated May 14, 2020, citing that the
Company has suffered net losses from operations and liquidity
limitations that raise substantial doubt about its ability to
continue as a going concern.


                            *********

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
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                            *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
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                   *** End of Transmission ***