/raid1/www/Hosts/bankrupt/TCR

/raid1/www/Hosts/bankrupt/TCR_Public/210428.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, April 28, 2021, Vol. 25, No. 117 Headlines 1 VISION LLC: June 8 Plan & Disclosure Hearing Set 1101 S FEDERAL: Taps Fitzgerald Group as Real Estate Broker 120 YORK: Case Summary & 15 Unsecured Creditors 121 LANGDON STREET: Case Summary & 20 Largest Unsecured Creditors 37 VENTURES: Affiliate Taps Cohne Kinghorn as Bankruptcy Counsel 37 VENTURES: Affiliate Taps Rocky Mountain as Financial Advisor 37 VENTURES: Affiliate Taps Zolkin Talerico as Local Counsel 49 BLEECKER: Seeks to Hire Alter & Brescia as Legal Counsel 4YL DEVELOPMENT: Seeks Permission to Use Cash Collateral 500 W 184: Seeks to Hire Warren R. Graham as Legal Counsel A & S ENTERTAINMENT: Case Summary & 13 Unsecured Creditors ADARA ENTERPRISES: U.S. Trustee Unable to Appoint Committee ADARA ENTERPRISES: Unsecureds Will Get 100% of Claims in Plan AEROCENTURY CORP: U.S. Trustee Unable to Appoint Committee ALPHA MEDIA: Wins Court Authorization to Get $10 Million PPP Loan ASAIG LLC: Files Notice of Proposed Sale Order & APA on Assets Sale ASTROTECH CORP: CVI Investments, Heights Capital Report 7.6% Stake AUGUSTA INVESTMENT: May Use Cash Collateral Until July 8 AUGUSTUS INTELLIGENCE: Files Chapter 11, Subchapter V Petition BARNET LIBERMAN: U.S. Trustee Appoints Creditors' Committee BEE COUNTY: Gets 90-Day Access to Cash Collateral BERGIO INTERNATIONAL: Incurs $148K Net Loss in 2020 BHUMI REAL: Seeks Approval to Hire Harit Kapadia as Accountant BIOCORRX INC: Incurs $3.5 Million Net Loss in 2020 BODY TEK FITNESS: Files for Chapter 11 Bankruptcy Protection BRACHIUM INC: Seeks to Hire Michael P. Senadenos as Accountant BRAZOS ELECTRIC: Committee Hires Kramer Levin as Legal Counsel BRAZOS ELECTRIC: Committee Hires Porter Hedges as Co-Counsel CALIFORNIA-NEVADA: Seeks to Hire Ziegler as Financial Advisor CARLA'S PASTA: Seeks Cash Collateral Access Thru June 1 CHESAPEAKE ENERGY: CEO Lawler Departs After Bankruptcy Exit CHIEF CORNERSTONE: Seeks to Hire Vohwinkel Law as Legal Counsel CMG CAPITAL: Seeks to Hire Kang & Company as Accountant CMG CAPITAL: Seeks to Tap Trustee Realty as Real Estate Broker COLLECTED GROUP: Seeks to Hire 'Ordinary Course' Professionals COMANCHE XPRESS: Harris Buying 2008 Sterling 89246 Day Cab for $10K CONDOR HOSPITALITY: Incurs $19.1 Million Net Loss in 2020 CONNECTIONS COMMUNITY: Seeks Access to Cash Collateral CORNUS MONTESSORI: May 11 Hearing on Sale of All Business Assets CORNUS MONTESSORI: S2 Ventures Buying Business Assets for $95.5K CORONADO CAPITAL: Seeks to Tap Miranda & Maldonado as Legal Counsel CROWN REMODELING: Wins Access to Cash Collateral Thru Aug. 13 DENNIS M. DANZIK: U.S. Needs Time to Object to Sale of 2 Batmobiles DESOTO OWNERS: Unsecureds to Split At Least $600,000 in Joint Plan DIAMOND OFFSHORE: Exits Chapter 11 Process, CEO Retires DORCHESTER RESOURCES: Sets Bidding Procedures for All Assets DSECARGONET INC: Hits Chapter 7 Bankruptcy EARTWORX & SALES: Seeks Cash Collateral Access Thru September 1 ENKOGS1 LLC: Court Authorizes Use of Cash Collateral EP ENERGY: Fights Back Leaseholders' Lawsuit Move EVEN STEVENS: BS Property Objects to Bid Procedures for $3M Equity FARR BUILDERS: Seeks Approval to Hire Liz Petroff as Realtor FIBERCORR MILLS: May Use Cash Collateral Thru May15 FOOD OPERA: Seeks to Hire Barry R. Levine as Legal Counsel FORD STEEL: May Use Cash Collateral Until June 22 FRICTIONLESS WORLD: Amends Plan; Banjo Files Indemnification Motion G A V REST: Seeks to Hire Morrison Tenenbaum as Legal Counsel GBT TECHNOLOGIES: Lowers Net Loss to $18 Million in 2020 GEORGE WASHINGTON: Tutor Perini Intends to Opt-Out Plan's Releases GREATER HOUSTON POOL: Hearing Today on Continued Cash Access GRIDDY INC: Must Explain Plan Releases, Says ERCOT GROUPE DYNAMITE: Gets CCAA Initial Stay Order GRUPO AEROMEXICO: Cuts Boeing 737 Max Order in Restructuring GYPSUM RESOURCES: Seeks to Tap Sonoran Capital as Financial Advisor HCA WEST: Hytera Buying Remaining Inventory for $1.2 Million HERTZ GLOBAL: Gives Competing Ch. 11 Sponsor One Week for New Offer HIGHLAND CAPITAL: Asks Court to Sanction Ex-CEO & Companies HOSPITALITY INVESTORS: Lenders Extend Forbearance Period to June 30 HOSPITALITY INVESTORS: Posts $224 Million Net Loss in 2020 INTEGRATED GROUP: Seeks to Hire Performance Plus as Accountant K3D PROPERTY: Seeks Cash Collateral Access KING'S TOWING: Seeks Approval to Hire Bond Law Office as Counsel KNOTEL INC: Unsecureds to Get 0.3% to 2.4% in Committee-Backed Plan LAKES EDGE GROUP: Bid to Use Cash Collateral Denied LAURYN HOPE: Gets OK to Hire Gerdes Law Firm as Conflict Counsel LOST CAJUN: Seeks Permission to Use Cash Collateral MAS CORP: Gets OK to Tap Stutheit & Gartland as Litigation Counsel MATRIX INTERNATIONAL: Obtains Permission to Use Cash Collateral MCD ENTERPRISES: Siah Buying Dallas Condo Unit 302 for $519K MEDIQUIP INC: Seeks to Tap Berger Fischoff as Bankruptcy Counsel MIKEN OIL: Gets 90-Day Access to Cash Collateral MINAL PHARMACY: Gets Court Nod to Use Cash Collateral MTE HOLDINGS: Gets Final Approval on Cash Collateral Use MTPC LLC: Gets $1.5-Mil DIP Financing From Bond Trustee MUSEUM OF AMERICAN JEWISH: Has Cash Collateral Access Until May 24 MY SIZE: Incurs $6.2 Million Net Loss in 2020 NATIONAL RIFLE: Asks Approval of Merchandising Agreements With Helm NEAL A. STUBBS: Tucci Buying Property in Costa Rica for $435K NEWSTREAM HOTEL: Wins Court OK to Use Cash Collateral NUANCE COMMUNICATIONS: Moody's Puts Ba3 CFR on Review for Upgrade ONATAH FARMS: Court Grants Final OK on Cash Collateral Use ONATAH FARMS: Gets Final OK on Cash Collateral Request PALM BEACH: Enters Guaranty Claim Settlement with Northern Trust PALMCO HOMES: Bruce Pautsch Buying Boca Raton Property for $385K PARADISE REDEVELOPMENT: Case Summary & 2 Unsecured Creditors PBS BRAND: Brandco's Interest Sold to Sortis; Files Modified Plan PENN NATIONAL: Moody's Affirms B1 CFR & Alters Outlook to Stable PINK MONKEY: Case Summary & 16 Unsecured Creditors PORT ARTHUR: Seeks to Hire Walker & Patterson as Legal Counsel PROTON THERAPY: Wins Court Nod to Use Cash Collateral RADIO DESIGN: Has Permission to Use Cash Collateral SAGE ECOENTERPRISES: Wins Cash Collateral Access Thru May 4 SCOTT SILVERSTEIN: Unsecureds to Get Less 1% in Liquidating Plan SECURE HOME: Expects to Conclude Chapter 11 Process in 60 Days SECURE HOME: Files for Chapter 11 With Debt-for-Equity Plan SOLOMON EDUCATION: Gets Court Approval to Hire Realtors STEWART SUPERMARKET: Seeks to Hire Timothy Thomas as New Counsel STHEALTH CAPITAL: Chief Compliance Officer Resigns STHEALTH CAPITAL: Delays Filing of 2020 Annual Report SUGARLOAF HOLDINGS: Trustee Selling Pahvant and Mascaro Claims SUNERGY CALIFORNIA: Committee Gets OK to Tap Financial Advisor THAKORJI INC: May 24 Plan Confirmation Hearing Set TIDEWATER ESTATES: Bensons Buying Hancock County Property for $126K TIDEWATER ESTATES: Selling 20-Acre Hancock County Property for $86K TIMOTHY KYLE ELLIS: Sheppard Buying 2003 Maxi-Load Scales for $5.5K TWO GUNS CONSULTING: May Use Cash Collateral Until May 13 UNIVERSAL TOWERS: Liquidating Trustee Taps Burr & Forman as Counsel US CONSTRUCTION: Gets OK to Use Cash Collateral VERTICAL MAC: Sets Bidding Procedures for $78K Sale of Assets VERTICAL MAC: Vertical Multi LLC Buying Assets for $77.8K Cash WARDMAN HOTEL: U.S. Trustee Unable to Appoint Committee WC CUSTER CREEK: Selling Unexpired Leases and Assets to Hillcroft WILDWOOD VILLAGES: Seeks to Hire Rallis Segundo as Accountant YOUNG 5801: Case Summary & Unsecured Creditor ********* 1 VISION LLC: June 8 Plan & Disclosure Hearing Set -------------------------------------------------- On April 20, 2021, 1 Vision, LLC, filed with the U.S. Bankruptcy Court for the Eastern District of Virginia a Disclosure Statement and Plan of Reorganization. On April 22, 2021, Judge Kevin R Huennekens conditionally approved the Disclosure Statement and ordered that: * June 8, 2021, at 1:00 p.m., is fixed for the hearing on final approval of the disclosure statement (if a written objection has been timely filed) and for the hearing on confirmation of the plan. * June 1, 2021, is fixed as the last day for filing and serving written objections to the disclosure statement and confirmation of the plan. A full-text copy of the order dated April 22, 2021, is available at https://bit.ly/32PTnHq from PacerMonitor.com at no charge. The Debtor is represented by: Bruce E. Arkema, Esq. Kevin J. Funk, Esq. Durrette, Arkema, Gerson & Gill PC 1111 East Main Street, 16th Floor Richmond, VA 23219 Tel.: (804) 775-6900 Fax: (804) 775-6911 Email: barkema@dagglaw.com kfunk@dagglaw.com About 1 Vision LLC 1 Vision, LLC filed for Chapter 11 bankruptcy protection (Bankr. E.D. Va. Case No. 20-34763) on Dec. 4, 2020. Lonnie S. Stinson, owner, signed the petition. In the petition, the Debtor disclosed $6,028,000 in assets and $1,295,632 in liabilities. Judge Kevin R. Huennekens oversees the case. Durrette, Arkema, Gerson & Gill, PC is the Debtor's legal counsel. 1101 S FEDERAL: Taps Fitzgerald Group as Real Estate Broker ----------------------------------------------------------- 1101 S Federal Highway, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ The Fitzgerald Group, a Ft. Lauderdale, Fla.-based real estate broker. The Debtor requires a real estate broker to market and sell its real property located at 1121 South Federal Highway, Dania Beach, Fla. The firm will be paid a 6 percent commission on the gross sale price. Nick Solimine, Jr., a partner at The Fitzgerald Group, disclosed in a court filing that his firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Nick Solimine, Jr. The Fitzgerald Group 1800 Eller Drive, Suite 212 Ft. Lauderdale, FL 33316 Tel: (954) 760-9300 Fax: (954) 760-9310 About 1101 S Federal Highway 1101 S Federal Highway, LLC, a Dania, Fla.-based company operating in the commercial real estate industry, filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 21-12382) on March 12, 2021. Huu Van Nguyen, manager, signed the petition. In its petition, the Debtor disclosed $2,812,700 in assets and $1,669,792 in liabilities. Judge Peter D. Russin presides over the case. Kevin Christopher Gleason, Esq., at Florida Bankruptcy Group, LLC, represents the Debtor as legal counsel. 120 YORK: Case Summary & 15 Unsecured Creditors ----------------------------------------------- Debtor: 120 York, LLC 210 York Street Suite 100 York, PA 17403 Chapter 11 Petition Date: April 27, 2021 Court: United States Bankruptcy Court Middle District of Pennsylvania Case No.: 21-00945 Debtor's Counsel: Robert E. Chernicoff, Esq. CUNNINGHAM, CHERNICOFF & WARSHAWSKY, P.C. 2320 North Second Street Harrisburgh, PA 17110 Tel: (717) 238-6570 Estimated Assets: $10 million to $50 million Estimated Liabilities: $10 million to $50 million The petition was signed by William Hynes, manager. A full-text copy of the petition is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/WHCF4OY/120_York_LLC__pambke-21-00945__0001.0.pdf?mcid=tGE4TAMA List of Debtor's 15 Unsecured Creditors: Entity Nature of Claim Claim Amount ------ --------------- ------------ 1. Walton & Company Inc. $16,917 P.O. Box 20069 York, PA 17402 2. Tree Monkeys $5,600 410 E. Butter Road York, PA 17404 3. MetEd $2,369 P.O. Box 3687 Akron, OH 44309-3687 4. Kone Inc. $1,162 P.O. Box 7247 Philadelphia, PA 19170-6082 5. Verizon $785 P.O. Box 28000 Lehigh Valley, PA 18002 6. York Water Company Sewer $750 130 East Market Street Box 15089 York, PA 17405 7. York Water Company $704 130 East Market Street Box 15089 York, PA 17405 8. Travelers CL $603 Remittance Center PO Box 660317 Dallas, TX 75266 9. Cintas Corporation $450 P.O. Box 630803 Cincinnati, OH 45623-0803 10. Gettle $335 P.O. Box 337 Emigsville, PA 17318-0337 11. Comcast $294 P.O. Box 3001 Southeastern, PA 19398 12. Penn Waste, Inc $260 P.O. Box 3066 York, PA 17402 13. J.C. Ehrlich Co., Inc. $138 P.O. Box 13848 Reading, PA 19612 14. Columbia Gas $132 P.O. Box 742537 Cincinnati, OH 45274-2537 15. ATIS Elevator Inspections, LLC $120 P.O. Box 790379 Saint Louis, MO 63179-0379 121 LANGDON STREET: Case Summary & 20 Largest Unsecured Creditors ----------------------------------------------------------------- Debtor: 121 Langdon Street Group LLP c/o Harold Langhammer 370 East Lakeside Street Madison, WI 53715 Business Description: 121 Langdon Street Group is a Single Asset Real Estate debtor (as defined in 11 U.S.C. Section 101(51B)). Chapter 11 Petition Date: April 26, 2021 Court: United States Bankruptcy Court Western District of Wisconsin Case No.: 21-10886 Judge: Hon. Catherine J. Furay Debtor's Counsel: Kristin J. Sederholm, Esq. KREKELER STROTHER, S.C. 2901 West Beltline Highway Suite 301 Madison, WI 53713 Tel: 608-258-8555 Fax: 608-258-8299 E-mail: ksederho@ks-lawfirm.com Estimated Assets: $1 billion to $10 billion Estimated Liabilities: $1 billion to $10 billion The petition was signed by Harold Langhammer, partner. A full-text copy of the petition is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/K6CKN3Q/121_Langdon_Street_Group_LLP__wiwbke-21-10886__0001.0.pdf?mcid=tGE4TAMA List of Debtor's 20 Unsecured Creditors: Entity Nature of Claim Claim Amount ------ --------------- ------------ 1. City of Madison City Fine $50,000 c/o City of Attorney's Office 210 Martin Luther King Jr. Blvd. Room 401 Madison, WI 53703 2. Ferch Architecture Professional $30,512 Attn: David. Ferch Services 2704 Gregory Street Madison, WI 53711 3. Nick Sandefur Security Lease $800 121 Langdon Street, LL Deposit Madison, WI 53703 4. Ben Smith Security Lease $750 121 Langdon Street, #2 Deposit Madison, WI 53703 5. Jack Gwertzman Security Lease $750 121 Langdon Street, #3 Deposit Madison, WI 53703 6. Noah Adelman Security Lease $750 121 Langdon Street, #2 Deposit Madison, WI 53703 7. Christian Lese Security Lease $745 121 Langdon Street, #2 Deposit Madison, WI 53703 8. Richard Wang Security Lease $720 121 Langdon Street, #3 Deposit Madison, WI 53703 9. Noah Rochlin Security Lease $720 121 Langdon Street, #3 Deposit Madison, WI 53703 10. Erik Jan Van Deursen Security Lease $720 121 Langdon Street, #3 Deposit Madison, WI 53703 11. Tolga Beser Security Lease $720 121 Langdon Street, #2 Deposit Madison, WI 53703 12. Kyle Verheyen Security Lease $710 121 Langdon Street, #3 Deposit Madison, WI 53703 13. Erik Johannson Security Lease $700 121 Langdon Street, #2 Deposit Madison, WI 53703 14. Gunnar Smith Security Lease $690 121 Langdon Street, LL Deposit Madison, WI 53703 15. Graham Meyer Security Lease $690 121 Langdon, Street, LL Deposit Madison, WI 53703 16. Joey He Security Lease $690 121 Langdon Street, LL Deposit Madison, WI 53703 17. Thomas Gillis Security Lease $690 121 Langdon Street, #1 Deposit Madison, WI 53703 18. Daniel Ye Security Lease $675 121 Langdon Street, #1 Deposit Madison, WI 53703 19. Max Christopherson Security Lease $675 121 Langdon Street, #1 Deposit Madison, WI 53703 20. Brock Huffer Security Lease $640 121 Langdon Street, #1 Deposit Madison, WI 53703 37 VENTURES: Affiliate Taps Cohne Kinghorn as Bankruptcy Counsel ---------------------------------------------------------------- Larada Science, Inc., an affiliate of 37 Ventures, LLC, seeks approval from the U.S. Bankruptcy Court for the Central District of California to employ Cohne Kinghorn, PC as its bankruptcy counsel. The firm's services include: a. advising the Debtor with respect to the requirements and provisions of the Bankruptcy Code, the Bankruptcy Rules, and other applicable requirements which may affect the Debtor; b. assisting the Debtor in the preparation and filing of bankruptcy schedules and statement of financial affairs, and the preparation of other documents required after the filing of the Debtor's Chapter 11 case; c. assisting the Debtor in the preparation of a disclosure statement, the formulation of a Chapter 11 plan of reorganization or liquidation and the confirmation and consummation of such plan; d. attending meetings and negotiating with creditors and other parties-in-interest; e. taking necessary actions to protect and preserve the Debtor's estate, including without limitation, the prosecution of actions on behalf of the estate, the defense of any action commenced against the Debtor or its estate, negotiating on behalf of the Debtor with respect to all litigation in which it is involved, objecting to claims that are filed against the estate, and representing the Debtor in any court proceeding or hearing where the rights of the estate or the Debtor may be litigated or affected; and f. other legal services. Cohne Kinghorn will be paid at these rates: George Hofmann $370 per hour Matthew M. Boley $375 per hour Langdon T. Owen $410 per hour Patrick Johnson $280 per hour Caitlin E. McKelvie $230 per hour Timothy Nielsen $175 per hour Jeffrey Trousdale $215 per hour Paralegal $140 per hour Legal Assistant $125 per hour The firm will also be reimbursed for out-of-pocket expenses incurred. The retainer fee is $134,000. George Hofmann, Esq., a partner at Cohne Kinghorn, 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: George Hofmann, Esq. Cohne Kinghorn, PC 111 East Broadway, 11th Floor Salt Lake City, UT 84111 Tel: (801) 363-4300 Fax: (801) 363-4378 Email: ghofmann@ck.law About 37 Ventures 37 Ventures, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Calif. Case No. 21-10261) on March 18, 2021. Its affiliate, Larada Sciences, Inc., a Utah-based company that owns and operates clinics dedicated to head lice prevention and treatment, filed a Chapter 11 petition (Bankr. C.D. Calif. Case No. 21-10269) on March 19, 2021. The cases are jointly administered under Case No. 21-10261. Judge Deborah J. Saltzman oversees the cases. In their petitions, 37 Ventures and Larada Sciences disclosed assets of between $1 million and $10 million and liabilities of between $10 million and $50 million. Levene Neale Bender Yoo & Brill, LLP serves as 37 Ventures' legal counsel. Larada Sciences tapped Cohne Kinghorn, PC as bankruptcy counsel, Zolkin Talerico LLP as local counsel, and Rocky Mountain Advisory, LLC as financial advisor. 37 VENTURES: Affiliate Taps Rocky Mountain as Financial Advisor --------------------------------------------------------------- Larada Science, Inc., an affiliate of 37 Ventures, LLC, seeks approval from the U.S. Bankruptcy Court for the Central District of California to employ Rocky Mountain Advisory, LLC as financial advisor. The firm's services include: a. rendering accounting assistance and oversight regarding the preparation of the financial and operating reports and other reports required to be disclosed to the Office of the United States Trustee or filed with the court; b. rendering assistance in connection with the Debtor's reorganization and other business matters; c. assisting the Debtor in keeping reliable and accurate books and records on a going forward basis; d. assisting the Debtor in connection with analysis and objections to claims; e. preparation of any necessary budgets, financial projections, liquidation analyses or other financial estimates; f. coordinating with and providing information, advice and input to the Debtor's tax preparers; and g. advising the Debtor on any other financial matters. Rocky Mountain Advisory will be paid at these rates: Partners $235 to $425 per hour Paraprofessionals $90 per hour The firm will also receive reimbursement for out-of-pocket expenses incurred. The retainer fee is $65,000. Gil Miller, a senior director at Rocky Mountain Advisory, 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: Gil Miller Rocky Mountain Advisory, LLC 215 South State Street, Suite 550 Salt Lake City, UT 84111 Tel: (801) 428-1600/ (801) 428-1602 Fax: (801) 428-1610 Email: gmiller@rockymountainadvisory.com About 37 Ventures 37 Ventures, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Calif. Case No. 21-10261) on March 18, 2021. Its affiliate, Larada Sciences, Inc., a Utah-based company that owns and operates clinics dedicated to head lice prevention and treatment, filed a Chapter 11 petition (Bankr. C.D. Calif. Case No. 21-10269) on March 19, 2021. The cases are jointly administered under Case No. 21-10261. Judge Deborah J. Saltzman oversees the cases. In their petitions, 37 Ventures and Larada Sciences disclosed assets of between $1 million and $10 million and liabilities of between $10 million and $50 million. Levene Neale Bender Yoo & Brill, LLP serves as 37 Ventures' legal counsel. Larada Sciences tapped Cohne Kinghorn, PC as bankruptcy counsel, Zolkin Talerico LLP as local counsel, and Rocky Mountain Advisory, LLC as financial advisor. 37 VENTURES: Affiliate Taps Zolkin Talerico as Local Counsel ------------------------------------------------------------ Larada Science, Inc., an affiliate of 37 Ventures, LLC, seeks approval from the U.S. Bankruptcy Court for the Central District of California to employ Zolkin Talerico, LLP as local bankruptcy counsel. The firm's services include: a. advising the Debtor with respect to the requirements and provisions of the Bankruptcy Code, the Bankruptcy Rules, the Local Rules, the Office of United States Trustee Guidelines and other applicable requirements which may affect the Debtor; b. assisting the Debtor in the preparation and filing of bankruptcy schedules and statement of financial affairs, compliance with the fulfillment of the Office of United States Trustee requirements, and the preparation of other documents required after the filing of the Debtor's Chapter 11 case; c. assisting the Debtor in the preparation of a disclosure statement, the formulation of a Chapter 11 plan of reorganization or liquidation and the confirmation and consummation of such plan; d. attending meetings and negotiating with creditors and other parties-in-interest; e. taking necessary actions to protect and preserve the Debtor's estate, including without limitation, the prosecution of actions on behalf of the estate, the defense of any action commenced against the Debtor or its estate, negotiating on behalf of the Debtor with respect to all litigation in which it is involved, objecting to claims that are filed against the estate, and representing the Debtor in any court proceeding or hearing where the rights of the estate or the Debtor may be litigated or affected; and f. other legal services. Zolkin Talerico will be paid at these rates: David Zolkin $595 per hour Derrick Talerico $550 per hour Paralegal $250 per hour Legal Assistant $175 per hour The firm will also receive reimbursement for out-of-pocket expenses incurred. The retainer fee is $25,000. Derrick Talerico, Esq., a partner at Zolkin Talerico, disclosed in a court filing that his firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Derrick Talerico, Esq. Zolkin Talerico LLP Wilshire Blvd., Suite 1120 Los Angeles, CA 90025 Tel: (424) 500-8552 Fax: (424) 500-8951 Email: dtalerico@ztlegal.com About 37 Ventures 37 Ventures, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Calif. Case No. 21-10261) on March 18, 2021. Its affiliate, Larada Sciences, Inc., a Utah-based company that owns and operates clinics dedicated to head lice prevention and treatment, filed a Chapter 11 petition (Bankr. C.D. Calif. Case No. 21-10269) on March 19, 2021. The cases are jointly administered under Case No. 21-10261. Judge Deborah J. Saltzman oversees the cases. In their petitions, 37 Ventures and Larada Sciences disclosed assets of between $1 million and $10 million and liabilities of between $10 million and $50 million. Levene Neale Bender Yoo & Brill, LLP serves as 37 Ventures' legal counsel. Larada Sciences tapped Cohne Kinghorn, PC as bankruptcy counsel, Zolkin Talerico LLP as local counsel, and Rocky Mountain Advisory, LLC as financial advisor. 49 BLEECKER: Seeks to Hire Alter & Brescia as Legal Counsel ----------------------------------------------------------- 49 Bleecker Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to employ Alter & Brescia, LLP as its legal counsel. The firm's services include: (a) advising the Debtor with respect to its powers and duties in the continued management and operation of its business and property; (b) preparing and filing the Debtor's bankruptcy schedules; (c) negotiating with creditors and other parties in interest in formulating a plan of reorganization, and taking legal steps to obtain confirmation of the plan including negotiations for financing; (d) preparing legal documents; (e) appearing before the court and the Office of the U.S. Trustee; and (f) other legal services necessary to administer the Debtor's Chapter 11 case. Alter & Brescia's hourly rates range from $425 to $500 for partners and from $275 to $375 for associates. Paraprofessionals charge an hourly fee of $105. The firm will also be reimbursed for out-of-pocket expenses incurred. The initial retainer fee is $20,000. As disclosed in court filings, Alter & Brescia is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Bruce R. Alter, Esq. Alter & Brescia, LLP 550 Mamaroneck Ave. Harrison, NY 10528-1634 Tel: (914) 670-0030 About 49 Bleecker 49 Bleecker Inc. filed a Chapter 11 bankruptcy petition (Bankr. S.D.N.Y. Case No. 21-10312) on Feb. 18, 2021, disclosing under $1 million in both assets and liabilities. Judge Michael E. Wiles oversees the case. The Debtor tapped Alter & Brescia, LLP as its legal counsel. 4YL DEVELOPMENT: Seeks Permission to Use Cash Collateral -------------------------------------------------------- 4YL Development, Inc., asked the U.S. Bankruptcy Court for the Western District of Texas to use cash collateral on an interim basis for a period of 90 days from the date of the entry of an order authorizing the use of cash collateral. As of the Petition Date, the Debtor owes these Secured Lenders: * PTTN Investments, LLC for $316,298, * AJPMMV Investments, LLC for $144,729, * SM VER Enterprises, LLC for $183,209, * Louis O. Garcia for $217,178, * RASK Holdings, LLC for $233,613, and * Zia Trust, Inc., as custodian for (i) Hojin Kim for a claim amounting to $231,268, (ii) Teren D. Klein with respect to a claim for $230,176, (iii) Robert A. Snow relating to claims for $157,272; $344,785; and $217,566. Each of the obligations is evidenced by a promissory note and secured by deeds of trust with respect to certain of the Debtor's real property located in El Paso, Texas. The loans are serviced by Uprising Investments, LLC, which has filed proofs of claim on behalf of the Secured Lenders. The sole source of 4YL's income are the rents collected from its tenants. The Secured Lender's deeds of trust contain an assignment of rents provision. As adequate protection, the Debtor proposed to grant the Secured Lenders replacement liens and security interests on all leases, rents, and other proceeds generated from the Petition Date or acquired post-petition from their collateral. The Debtor also proposed to reserve funds on a monthly basis sufficient to pay the prorated estimated taxes and insurance on the Secured Lenders' collateral. Moreover, the Debtor sought authority from the Court to pay each of the Secured Lenders, on a monthly basis for 90 days, interest only at the rate of 5.25% beginning on June 10, 2021. The Debtor is seeking the reduction in the contractual rate of interest for purposes of feasibility and to conduct repairs necessary to be able to rent 100% of its units. A copy of the motion is available for free at https://bit.ly/3avKJCd from PacerMonitor.com. About 4YL Development 4YL Development, Inc. sought Chapter 11 protection (Bankr W.D. Tex. Case No. 21-30157) on March 1, 2021. At the time of the filing, the Debtor disclosed assets of between $1 million and $10 million and liabilities of the same range. Judge H. Christopher Mott oversees the case. MIRANDA & MALDONALDO, PC, led by Carlos Miranda, Esq., is the Debtor's legal counsel. 500 W 184: Seeks to Hire Warren R. Graham as Legal Counsel ---------------------------------------------------------- 500 W 184, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to employ the Law Office of Warren R. Graham as its legal counsel. The firm's services include: a. advising the Debtor regarding its rights and duties under the Bankruptcy Code; b. assisting the Debtor in the preparation of its financial statements, schedules of assets and liabilities, statement of financial affairs and other documents; c. representing the Debtor at court hearings and other proceedings; d. prosecuting and defending litigated matters that may arise during the Debtor's Chapter 11 case; e. assisting the Debtor in the formulation and negotiation of a plan of reorganization and all related transactions; f. assisting the Debtor in analyzing claims and in negotiating with creditors; g. preparing legal papers; h. other legal services. The Law Office of Warren R. Graham will be paid at the rate of $450 per hour for attorneys and $125 per hour for paraprofessionals. The firm will also be reimbursed for out-of-pocket expenses incurred. The retainer fee is $25,000. Warren Graham, Esq., a partner at the Law Office of Warren R. Graham, disclosed in a court filing that his firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Warren R. Graham, Esq. Law Office of Warren R. Graham 450 Seventh Avenue, Suite 305 New York, NY 10123 Tel: (917) 885-2370 Email: showarg@gmail.com About 500 W 184 LLC 500 W 184 LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Case No. 21-10392) on March 2, 2021. At the time of the filing, the Debtor disclosed assets of between $1 million and $10 million and liabilities of the same range. Judge Michael E. Wiles oversees the case. The Law Office of Warren R. Graham serves as the Debtor's legal counsel. A & S ENTERTAINMENT: Case Summary & 13 Unsecured Creditors ---------------------------------------------------------- Debtor: A & S Entertainment, LLC DBA The Office DBA Club Pink Pussy Cat, Inc. 250 NE 183rd St Miami, FL 33179 Chapter 11 Petition Date: April 27, 2021 Court: United States Bankruptcy Court Southern District of Florida Case No.: 21-14020 Judge: Hon. Robert A. Mark Debtor's Counsel: John A. Moffa, Esq. MOFFA & BIERMAN 3081 E Commercial Blvd Suite 204 Fort Lauderdale, FL 33308 Tel: 954-634-4733 Email: john@Moffa.Law Estimated Assets: $50,000 to $100,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Ciara Latrice Jones, Claudette M. Pierre, manager. A full-text copy of the petition containing, among other items, a list of the Debtor's 13 unsecured creditors is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/XUY3IAY/A__S_Entertainment_LLC__flsbke-21-14020__0001.0.pdf?mcid=tGE4TAMA ADARA ENTERPRISES: U.S. Trustee Unable to Appoint Committee ----------------------------------------------------------- The U.S. Trustee for Region 3 disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of Adara Enterprises Corp. About Adara Enterprises Corp. Adara Enterprises Corp. operates as an asset management business. Currently, Adara Enterprises's primary asset is quantitative trading software, which was originally developed at significant expense over the course of 10 to 15 years by Clinton Group, Inc. and has been used to assist in trades of more than $50 billion by Clinton and its former licensees. Adara Enterprises sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Case No. 21-10736) on April 22, 2021. At the time of the filing, the Debtor had estimated assets of less than $10 million and liabilities of between $10 million and $50 million. Judge J. Kate Stickles oversees the case. Gellert Scali Busenkell & Brown, LLC and Loeb & Loeb, LLP serve as the Debtor's legal counsel. Donlin Recano & Co, Inc. is the claims and noticing agent. ADARA ENTERPRISES: Unsecureds Will Get 100% of Claims in Plan ------------------------------------------------------------- Adara Enterprises Corp. filed with the U.S. Bankruptcy Court for the District of Delaware a Disclosure Statement describing Prepackaged Chapter 11 Plan of Reorganization dated April 22, 2021. The Plan provides for the reorganization of the Debtor by retiring, cancelling, extinguishing, and/or discharging the Debtor's existing Equity Interests and issuing New Equity in the Reorganized Debtor to the Prepetition Secured Lender and to the Preferred Equity Holder. The Plan Sponsor has agreed to provide Consideration which will fund a trust and will ultimately be distributed to holders of Allowed Claims and Allowed Equity Interests in accordance with the priority scheme or as otherwise agreed pursuant to the Restructuring Support Agreement executed by the Debtor, the ESW Parties, and GlassBridge Enterprises, Inc. prior to the filing of this Chapter 11 Case. As agreed by the Prepetition Secured Lender under the Restructuring Support Agreement, holders of Allowed General Unsecured Claims will be paid 100% of their claims in full. On April 21, 2021, the Debtor, the ESW Parties and GlassBridge entered into the restructuring support agreement ("Restructuring Support Agreement"), the assumption of which is subject to a separate motion, that sets forth the principal terms of the Restructuring Transaction and requires the parties thereto to support the Plan. Under the Restructuring Support Agreement, the Debtor, ESW Holdings, ESW Capital, and GlassBridge (collectively, the "RSA Parties") agreed to support and take all reasonable actions necessary to facilitate the implementation and consummation of the Plan, which provides for (1) the funding of Consideration by the Plan Sponsor; (2) the treatment of holders of Allowed Claims in accordance with the Plan and the priority scheme established by the Bankruptcy Code; and (3) the reorganization of the Debtor by retiring, cancelling, extinguishing and/or discharging the Debtor's prepetition Other Equity Interests, and (i) issuing 50% of the New Equity in the Reorganized Debtor to the Preferred Equity Interest Holder in exchange for its Preferred Equity Interests, and (ii) issuing 50% of the New Equity to the Prepetition Secured Lender, in exchange for $2 million of its pre-petition secured claim (the "Restructuring Transaction"). The following is an overview of certain material terms of the Plan: * The Debtor will be reorganized pursuant to the Plan and continue in operation following the Effective Date. On the Effective Date, 1,000 shares of New Equity of the Reorganized Debtor shall be issued. * The Prepetition Secured Lender shall receive (i) 50% of the New Equity in the Reorganized Debtor in full and complete discharge of, and in exchange for $2,000,000 of the Prepetition Secured Lender Claim, and (ii) the remainder of the Prepetition Secured Lender Claim shall be treated as a continuing obligation of the Reorganized Debtor upon the terms set forth in the Plan Supplement, and shall not be deemed extinguished, discharged, cancelled, released or otherwise satisfied under the Plan; provided that the GlassBridge Guaranty and the GlassBridge Pledge shall be terminated, and GlassBridge shall be discharged and released of all obligations thereunder, as of the Effective Date. * Each holder of an Allowed Other Secured Claim against the Debtor shall receive on or as soon as reasonably practicable after the Effective Date in full and complete discharge of, and in exchange for, such Allowed Other Secured Claims, at the option of the Plan Sponsor: (i) payment in full in Cash; (ii) the collateral securing its Allowed Other Secured Claim and payment of any interest; (iii) reinstatement of such Allowed Other Secured Claim; or (iv) such other treatment rendering such Allowed Other Secured Claim unimpaired. * Each holder of an Allowed General Unsecured Claim shall receive, on account of and in full and complete settlement, release and discharge of, and in exchange for its Allowed General Unsecured Claim, (i) payment in full in Cash, plus any interest necessary to cause such Allowed General Unsecured Claim to be unimpaired; or (ii) such other treatment to the holder of an Allowed General Unsecured Claim as to which the Debtor, the Plan Sponsor and the holder of such Allowed General Unsecured Claim shall have agreed upon in writing. * The Preferred Equity Interest Holder shall receive 50% of the New Equity in the Reorganized Debtor. All Preferred Equity Interests shall be deemed automatically cancelled, released, and extinguished without further action by the Debtor or the Reorganized Debtor, and any and all obligations of the Debtor and the Reorganized Debtor thereunder shall be discharged. To fund the Chapter 11 Case, ESW Holdings has agreed to allow the Debtor use of the Cash Collateral and to provide the Debtor with the DIP Facility, pursuant to the Cash Collateral/DIP Order. ESW Holdings, in its capacity as Plan Sponsor, has agreed to fund $8,500,000 on the Effective Date, less any amount that ESW Holdings may provide to the Debtor in the form of post-petition financing, including under the DIP Facility. For the avoidance of doubt, upon the Effective Date, any outstanding obligations of the Debtor under the DIP Facility shall be credited against the Consideration and, notwithstanding anything to the contrary set forth in the Plan will not be repaid in Cash; provided that nothing in the Plan shall negate or modify the obligation of the Debtor to repay all Restructuring Expenses in full in Cash. The Plan Sponsor will pay the Consideration to the Distribution Trust on the Effective Date, and such amounts (together with the Remaining Cash) will be distributed in accordance with the Plan. Proposed Counsel to the Debtor: Ronald S. Gellert, Esq. GELLERT SCALI BUSENKELL & BROWN, LLC 1201 N. Orange Street, Suite 300 Wilmington, DE 19801 Tel: 302-425-5806 Fax: 302-425-5814 E-mail: rgellert@gsbblaw.com - and - Daniel B. Besikof, Esq. Bethany D. Simmons, Esq. LOEB & LOEB LLP 345 Park Avenue New York, New York 10154 Tel: (212) 407-4000 Fax: (646) 417-6335 E-mail: dbesikof@loeb.com bsimmons@loeb.com About Adara Enterprises Adara Enterprises Corp. operates as an asset management business. Currently, the Debtor's primary asset is quantitative trading software, which was originally developed at significant expense over the course of 10-15 years by Clinton Group, Inc. and has been used to assist in trades of more than $50 billion by Clinton and its former licensees. Adara Enterprises filed a Chapter 11 petition (Bankr. D. Del. Case No. 21-10736) on April 22, 2021. LOEB & LOEB LLP and GELLERT SCALI BUSENKELL & BROWN, LLC, serve as counsel to the Debtor. The Debtor tapped DONLIN RECANO & CO, Inc., as claims and noticing agent. AEROCENTURY CORP: U.S. Trustee Unable to Appoint Committee ---------------------------------------------------------- The U.S. Trustee for Region 3 disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of AeroCentury Corp. About AeroCentury Corp. AeroCentury Corp. is engaged in the business of investing in used regional aircraft equipment and leasing the equipment to foreign and domestic regional air carriers. Its principal business objective is to acquire aircraft assets and manage those assets in order to provide a return on investment through lease revenue and, eventually, sale proceeds. It is headquartered in Burlingame, Calif. AeroCentury Corp. and affiliates, JetFleet Holdings Corp. and JetFleet Management Corp., sought Chapter 11 bankruptcy protection (Bankr. D. Del. Lead Case No. 21-10636) on March 29, 2021. The Debtors tapped Morrison & Foerster, LLP and Young Conaway Stargatt & Taylor, LLP as legal counsel; B Riley Securities, Inc. as financial advisor and investment banker; and BDO USA, LLP as auditor. Kurtzman Carson Consultants is the claims agent and administrative advisor. ALPHA MEDIA: Wins Court Authorization to Get $10 Million PPP Loan ----------------------------------------------------------------- Alex Wolf of Bloomberg Law reports that Alpha Media Holdings LLC received court authorization to borrow up to $10 million in Paycheck Protection Program funding from U.S. Bank, following a federal policy update that enabled certain bankrupt companies to apply for the government-backed Covid-relief aid. The approval, issued by Judge Kevin R. Huennekens of the U.S. Bankruptcy Court for the Eastern District of Virginia on April 23, 2021, allows the Portland, Ore.-based radio broadcaster to tap into funds to keep its operations running while it's finalizing Chapter 11 proceedings. U.S. Bank, following Small Business Administration policy, had denied Alpha Media's initial PPP loan application. 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 a financial advisor, and Ernst & Young LLP as restructuring advisor. Stretto is the claims and noticing agent. Wilmington Savings Fund Society, the administrative agent to the first-lien lenders, is represented by Debevoise & Plimpton, LLP, and Hunton Andrews Kurth, LLP. The U.S. Trustee for Region 4 appointed an official committee of unsecured creditors on Feb. 3, 2021. The Committee tapped Hahn Loeser & Parks, LLP, as its bankruptcy counsel, Hirschler Fleischer, P.C. as local counsel, Dundon Advisers LLC as a financial advisor, and Miller Buckfire & Co., LLC, as an investment banker. ASAIG LLC: Files Notice of Proposed Sale Order & APA on Assets Sale ------------------------------------------------------------------- ASAIG, LLC, and affiliates filed with the U.S. Bankruptcy Court for the Southern District of Texas a notice of proposed Sale Order and Asset Purchase Agreement in connection with the sale of substantially all assets to AAS Bidco, LLC. In aggregate, the consideration for the sale and transfer of the Purchased Assets is composed of the following: i. the Credit Bid; ii. the assumption by Buyer of the Assumed Liabilities; iii. cash in an amount necessary to pay the outstanding DIP Obligations arising under: (1) the DIP Term Loan A in the lesser amount of (i) $4.65 million and (ii) the full principal amount due and owing under the DIP Term Loan A as of the Closing Date; and (2) the DIP Delayed Draw Term Loans in the lesser amount of (i) $7.5 million and (ii) all DIP Obligations due and owing in respect of the DIP Delayed Draw Term Loans; and iv. cash in an amount necessary to pay the Wind Down Expenses in an amount not to exceed $750,000, as calculated pursuant to Section 2.5(c) of the Agreement. The Buyer has offered to purchase the Purchased Assets in exchange for (i) a credit bid of $14 million of AIG Prepetition Obligations, (ii) the assumption by the Buyer of the Assumed Liabilities, and (iii) cash in an amount necessary to pay 100% of the outstanding DIP Obligations and projected administrative claims, priority claims and other wind-down expenses at Closing. On April 6, 2021, the Debtors conducted the Auction to determine the Successful Bidder for the Assets, as provided in the Court's Bidding Procedures. Upon the conclusion of the Auction, the Debtors selected AAS Bidco as the Successful Bidder for the Assets. In connection with the Bidding Procedures Order, the Debtors file their proposed order approving the sale to AAS Bidco and the proposed Asset Purchase Agreement by and among Aztec/Shaffer, LLC, ASAIG, and AAS Bidco. A copy of the proposed Agreement and Sale Order is available at https://tinyurl.com/4ej2zrtb from PacerMonitor.com free of charge. About ASAIG LLC ASAIG, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Texas Lead Case No. 20-35600) on Nov. 17, 2020. The petition was signed by A. Kelly Williams, manager. At the time of the filing, the Debtor had estimated assets of between $1 million and $10 million and liabilities of between $10 million and $50 million. Judge Marvin Isgur oversees the case. Matthew Okin, Esq., at Okin Adams LLP, represents the Debtor as counsel. ASTROTECH CORP: CVI Investments, Heights Capital Report 7.6% Stake ------------------------------------------------------------------ CVI Investments, Inc. and Heights Capital Management, Inc. disclosed in a Schedule 13G filed with the Securities and Exchange Commission that as of April 8, 2021, they beneficially own 3,500,000 shares of common stock of Astrotech Corporation, which represents 7.6 percent of the shares outstanding. The Company's Prospectus Supplement (to Prospectus dated March 15, 2021, Registration No. 333-253835), filed on April 9, 2021, indicates there were 46,253,181 Shares outstanding as of the completion of the offering of the Shares. Heights Capital Management, Inc., which serves as the investment manager to CVI Investments, Inc., may be deemed to be the beneficial owner of all Shares owned by CVI Investments, Inc. Each of the Reporting Persons disclaims any beneficial ownership of any such Shares, except for their pecuniary interest. A full-text copy of the regulatory filing is available for free at: https://www.sec.gov/Archives/edgar/data/1001907/000110465921051730/tm2113314d1_sc13g.htm About Astrotech Astrotech (NASDAQ: ASTC) -- http://www.astrotechcorp.com-- is a science and technology development and commercialization company that launches, manages, and builds scalable companies based on innovative technology in order to maximize shareholder value. 1st Detect develops, manufactures, and sells trace detectors for use in the security and detection market. AgLAB is developing chemical analyzers for use in the agriculture market. BreathTech is developing a breath analysis tool to provide early detection of lung diseases. Astrotech is headquartered in Austin, Texas. Astrotech reported a net loss of $8.31 million for the year ended June 30, 2020, compared to a net loss of $7.53 million for the year ended June 30, 2019. As of Dec. 31, 2020, the Company had $23.58 million in total assets, $4.77 million in total liabilities, and $18.81 million in total stockholders' equity. Armanino LLP, in San Francisco, California, the Company's auditor since 2019, issued a "going concern" qualification in its report dated Sept. 8, 2020, citing that the Company has suffered recurring losses from operations and has net cash flows deficiencies that raise substantial doubt about its ability to continue as a going concern. AUGUSTA INVESTMENT: May Use Cash Collateral Until July 8 -------------------------------------------------------- The U.S. Bankruptcy Court for the Middle District of Florida authorized Augusta Investments Corporation to use cash collateral on an interim basis until July 8, 2021, at 10:15 a.m. The Debtor will use the cash collateral to pay the current and necessary expenses set forth in the budget, and such additional amounts as may be expressly approved in writing by MTM Bros, LLC. The six months' budget provided for $39,240 in total combined estimated revenue for April 2021, and $49,302 in total estimated expenses for the same month. The Court ruled that each Secured Creditor with an interest in the cash collateral will have a perfected post-petition lien against the cash collateral to the same extent and with the same validity and priority as their prepetition lien. The Court, however, directed the Debtor not to pay any professionals unless and until the Debtor is authorized by the Court to employ said professionals. Further hearing on the motion is scheduled for July 8, 2021 at 10:15 a.m., before the Honorable Karen S. Jennemann, to be held at 400 W. Washington Street, 6th Floor, Courtroom A, Orlando, Florida 32801. A copy of the order is available for free at https://bit.ly/3gIfJ5Q from PacerMonitor.com. About Augusta Investments Augusta Investments Corporation is a privately held company in the traveler accommodation industry. It sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 20-06630) on December 1, 2020. In the petition signed by Marco Kozlowski, managing member, the Debtor disclosed between $1 million and $10 million in both assets and liabilities. Judge Karen S. Jennemann oversees the case. Aldo G. Bartolone, Jr., Esq., at BARTOLONE LAW, PLC, is the Debtor's counsel. AUGUSTUS INTELLIGENCE: Files Chapter 11, Subchapter V Petition -------------------------------------------------------------- Augustus Intelligence, Inc., filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code to restructure its operations. RK Consultants LLC's Brian Ryniker, the CRO, explains that filing under Chapter 11, subchapter V, will be very useful to Augustus. Augustus commenced this Chapter 11 case to preserve the value of its assets, pay creditors and restructure its capital structure. Further, Augustus hopes to quickly and finally reach a fair and equitable, Court-approved settlement and resolution of the disputes with its Investors in order to maximize Augustus's going concern value for the benefit of the estate, its creditors and equity holders. Augustus looks forward to working closely with the Subchapter V Trustee and creditors and other stakeholders to propose a plan as soon as possible that will harness the value of Augustus's newly restructured operations over three to five years (or sooner) as required under the Bankruptcy Code. Augustus was formed by George Glueck -- Minority Founder -- and Wolfgang Haupt -- Controlling Founder -- in 2018 with a mission of developing artificial intelligence software technology to be licensed to U.S. and international commercial businesses operating in a variety of different industries. Augustus offers its customers and prospective customers an integrated, all-in-one artificial intelligence solution to be used in conjunction with the customers' existing technology in order to maximize efficiencies and improve profitability. Augustus, through its non-debtor U.S. and foreign subsidiaries, has approximately 30 clients and partners utilizing its proprietary artificial intelligence technology. Furthermore, AI technology is deployed in a large retail customer with 1,400+ retail locations in the United States. Overall, Augustus and its Subsidiaries currently have 33 full- and part-time employees and independent contractors. As of the Petition Date, the Debtor has no secured debt. Total unsecured liabilities owed by Augustus are approximately $2.1 million. In addition, there are various disputed, unliquidated claims asserted against the Debtor by certain former employees or other parties. With respect to the Debtor's equity interests, the Controlling Founder holds on a fully diluted basis approximately 67.89% of the equity, with super majority voting rights. Road to Bankruptcy A German negative media campaign, an internal investigation into conduct of the Controlling Founder, and litigation involving former employees caused a further increase in costs and paralyzed Augustus's operating business and hindered its ability to obtain new revenue sources and fundraising efforts. The Controlling Founder stepped aside as CEO in June 2020. In July 2020, several shareholders decided to replace the entire Board of Directors with three new directors, Stefan Liechtenstein, Kathleen Barnett Einhorn, Wilko von Pelchrzim, with Stefan Liechtenstein becoming the Chairperson. In November, Ronald S. Rolfe, an independent director was selected separately by the minority group of the Investors, thus forming the Current Board of Directors. At the time the Current Board was appointed, it became clear that Augustus would need to raise additional capital. Augustus is party with Kevin Washington to a Series Seed Preferred Stock Investment Agreement dated Nov. 26, 2018, pursuant to which Mr. Washington agreed to purchase preferred stock in Augustus for $20,000,904 in cash and $30,000,000 in kind for an interest in certain data centers, which, upon information and belief, Mr. Washington indirectly owns. Augustus is party with Alexis Richard Bachofen von Echt -- Equity Purchasers -- to a Series Seed Preferred Stock Investment Agreement executed May 4, 2020, pursuant to which Mr. Bachofen von Echt agreed to purchase preferred stock in Augustus for $20,000,000 in cash and $10,000,000 in kind for an interest in Green Frame Holdings LLC, an entity which, upon information and belief, Mr. Bachofen von Echt owns. Despite Augustus's efforts to obtain the promised capital from the Equity Purchasers, both Equity Purchasers wrongfully refused to honor their obligations under their respective Investment Agreements, resulting in Augustus and its stakeholders suffering significant damages. Augustus reserves the right to bring claims against the Equity Purchasers for its damages. New Board and the new CEO initiated a rigid cost-cutting program. They implemented a significant reduction in force in order to reduce payroll expenses, entered into a sublease for Augustus's Manhattan headquarters space in order to reduce rental expenses, and took a number of other steps to reduce its cash burn by 90%. However, those cost-cutting measures proved insufficient for Augustus to become cash flow positive as it only had approximately $2 million in recurring revenue after spending over $30 million. The Controlling Founder had committed to transfer his voting rights back to the company in Q4 2020 to allow a fund-raise. Unfortunately for all stakeholders and despite repeated pleas by the Chairman and new CEO, who stressed the deteriorating cash position, the Controlling Founder delayed signing over a temporary and conditional proxy of his voting rights until March 10, 2021, eventually signing these rights to the Chairman and new CEO. On March 11, 2021, the Chairman and new CEO gave an irrevocable proxy to the independent representative of the minority shareholders, Ronald Rolfe, for an upcoming shareholder meeting. On March 12, 2021, the new CEO received support from the vast majority of shareholders for an additional project and able to convert certain negative votes amongst disgruntled shareholders to abstentions. It appeared Augustus might finally be in a position to raise external capital to address its perilous cash position as a result of the aforementioned intransigence on the part of the Controlling Founder. The new CEO was finally able to progress with plans to seek external capital, when an additional and ultimately final blow was dealt. On March 15, 2021, Augustus received a notice from the Securities and Exchange Commission that it was opening a file to investigate the conduct of Prior Management and its equity raise based on a complaint it had received from an unknown party. This was effectively the last straw, rendering anything, but DIP financing, impossible. In addition to continuing to lose cash from operations, Augustus continued to incur significant professional and advisory fees in connection with the long-running independent investigation, the SEC Investigation and other issues involving disgruntled Investors. As a result, Augustus's remaining cash became perilously low, creditors needed to be protected as well as the shareholders, forcing the Current Board to pass a resolution to support filing its Chapter 11 petition and to seek to employ the various restructuring professionals with Court Approval. About Augustus Intelligence Augustus Intelligence Inc. develops artificial intelligence software technology. Augustus offers its customers and prospective customers an integrated, all-in-one artificial intelligence solution to be used in conjunction with the customers' existing technology in order to maximize efficiencies and improve profitability. Augustus Intelligence Inc. sought Chapter 11 protection (Bankr. D. Del. Case No. 21-10744) on April 24, 2021. As of March 31, 2021, the Debtor disclosed total assets of $10,110,349 and total liabilities of $2,763,109. The Hon. John T. Dorsey is the case judge. ARCHER & GREINER, P.C., led by Bryan J. Hall, is the Debtor's counsel. HAHN & HESSEN LLP is the co-counsel. RYNIKER CONSULTANTS, LLC, is the financial advisor. STRETTO is the claims agent, maintaining the page https://cases.stretto.com/augustus/court-docket BARNET LIBERMAN: U.S. Trustee Appoints Creditors' Committee ----------------------------------------------------------- The U.S. Trustee for Region 2 appointed an official committee to represent unsecured creditors in the Chapter 11 case of Barnet Louis Liberman. The committee members are: 1. James E. & Bernice Bookhamer 1526 Ocean Avenue Sea Bright, NJ 07760 E-mail: jbookie@verizon.net 2. Russell L. Nype c/o Revenue Plus LLC 525 South Flager Drive, 15D West Palm Beach, FL 33401 E-mail: rnype@revenueplus.tv 3. Jacob M. Toledano 40 Stevenson Drive Great Neck, NY 11023-1824 E-mail: Medival5@verizon.net 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 Barnet Louis Liberman Barnet Louis Liberman sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y. Case No. 21-70611) on April 1, 2021. The Debtor is represented by Sanford Rosen, Esq. BEE COUNTY: Gets 90-Day Access to Cash Collateral ------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Texas authorized Bee County Cooperative Association and affiliated Debtor BCCA, LLC to use cash collateral for a period of 90 days to pay normal operating expenses pursuant to the budget. The Court also authorized the Debtors to use during the next 90 days the operating funds of $60,951 remaining from the funding of the Economic Injury Disaster Loan (EIDL) for $150,000, which the Debtors obtained from the United States Small Business Administration. As of the Petition Date, Debtor Bee County Cooperative owed SBA approximately $1,378,696, which amount is secured by liens against real property, inventory, equipment, accounts receivable and deposit accounts. Debtor BCCA owed Spirit of Texas Bank (SOTB) at least $273,197 in outstanding balance, secured by machinery, equipment, inventory, and accounts receivable. As adequate protection, SBA and SOTB are granted replacement liens of like kind, extent, character and priority as SBA and SOTB had against the Debtors' pre-petition assets. The adequate protection amount will have priority in the Debtors' bankruptcy 11 cases over all administrative expenses of the kind specified in Section 507(b) of the Bankruptcy Code. A copy of the order is available for free at https://bit.ly/3ejrFYW from PacerMonitor.com. About Bee County Cooperative Association Bee County Cooperative Association sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Case No. 21-21074) on March 25, 2021. Aaron Salge, general manager and authorized officer, signed the petition. At the time of the filing, the Debtor had between $1 million and $10 million in both assets and liabilities. Judge David R. Jones oversees the case. Mullin Hoard & Brown, L.L.P. and D. William & Co., P.C. serve as the Debtor's legal counsel and accountant, respectively. BERGIO INTERNATIONAL: Incurs $148K Net Loss in 2020 --------------------------------------------------- Bergio International, Inc. filed with the Securities and Exchange Commission its Annual Report on Form 10-K disclosing a net loss of $148,050 on $584,806 of net sales for the year ended Dec. 31, 2020, compared to a net loss of $3.04 million on $600,981 of net sales for the year ended Dec. 31, 2019. As of Dec. Dec. 31, 2020, the Company had $1.48 million in total assets, $1.65 million in total liabilities, and a total stockholders' deficit of $171,048. Lakewood, Colorado-based BF Borgers CPA PC, the Company's auditor since 2019, issued a "going concern" qualification in its report dated March 17, 2021, citing that the Company has suffered recurring losses from operations and has a significant accumulated deficit. In addition, the Company continues to experience negative cash flows from operations. These factors raise substantial doubt about the Company's ability to continue as a going concern. A full-text copy of the Form 10-K is available for free at: https://www.sec.gov/ix?doc=/Archives/edgar/data/1431074/000139390521000128/brgo-20201231.htm About Bergio Based in Fairfield, New Jersey, Bergio International, Inc. -- www.bergio.com -- is engaged in the exploration of mineral properties. On Oct. 21, 2009, the Company entered into an exchange agreement with Diamond Information Institute, Inc., whereby the Company acquired all of the issued and outstanding common stock of Diamond Information Institute and changed the name of the company to Bergio International, Inc. On Feb. 19, 2020, the Company changed its state of incorporation to the State of Wyoming. BHUMI REAL: Seeks Approval to Hire Harit Kapadia as Accountant -------------------------------------------------------------- Bhumi Real Estate, LLC seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to employ Harit Kapadia, an accountant practicing in South Plainfield, N.J. The Debtor requires an accountant to analyze financial records; prepare tax returns and financial statements; evaluate its financial condition; and prepare monthly operating reports. The firm will be paid based upon its normal and usual hourly billing rates and reimbursed for out-of-pocket expenses incurred. Mr. Kapadia disclosed in a court filing that he is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. Mr. Kapadia can be reached at: Harit Kapadia 50 Cragwood Road, Suite 205 South Plainfield, NJ 07080 Telephone: (908) 769-6500 Facsimile: (908) 769-6503 Email: contact@pandyacpa.com About Bhumi Real Estate Bhumi Real Estate LLC, a South Plainfield, N.J.-based company engaged in renting and leasing real estate properties, sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Case No. 21-11710) on March 2, 2021. Roshni Patel, member, signed the petition. At the time of the filing, the Debtor was estimated to have assets of less than $50,000 and liabilities of between $1 million and $10 million. Judge Michael B. Kaplan oversees the case. The Debtor tapped Scura Wigfield Heyer Stevens & Cammarota, LLP as legal counsel and Harit Kapadia as accountant. BIOCORRX INC: Incurs $3.5 Million Net Loss in 2020 -------------------------------------------------- Biocorrx Inc. filed with the Securities and Exchange Commission its Annual Report on Form 10-K disclosing a net loss of $3.51 million on $122,621 of net revenues for the year ended Dec. 31, 2020, compared to a net loss of $6.05 million on $240,259 of net revenues for the year ended Dec. 31, 2019. As of Dec. 31, 2020, the Company had $1.83 million in total assets, $6.04 million in total liabilities, and a total deficit of $4.21 million. Marlton, New Jersey-based Friedman LLP, the Company's auditor since 2019, issued a "going concern" qualification in its report dated March 31, 2021, citing that the Company does not generate any significant revenues and has incurred net losses since inception. These conditions raise substantial doubt about the Company's ability to continue as a going concern. A full-text copy of the Form 10-K is available for free at: https://www.sec.gov/Archives/edgar/data/1443863/000147793221001909/bicx_10k.htm About BioCorRx Anaheim, Calif.-based BioCorRx Inc., through its subsidiaries, develops and provides innovative treatment programs for substance abuse and related disorders. The BioCorRx Recovery Program is a non-addictive, medication-assisted treatment ("MAT") program for substance abuse that includes peer recovery support. BODY TEK FITNESS: Files for Chapter 11 Bankruptcy Protection ------------------------------------------------------------ Matthew Arrojas of South Florida Business Journal reports that Wilton Manors-based gym chain Bodytek Fitness Inc. filed for Chapter 11 bankruptcy protection. The company plans to keep all five locations open after the bankruptcy declaration, filed in U.S. Bankruptcy Court for the Southern District of Florida. Chapter 11 bankruptcies indicate a business plans to reorganize debt and put forth a plan to continue operations. General Manager Rusty John Carbaugh said there are no plans to sell the company, nor does the business expect to close any additional gyms. Bodytek Fitness has $53,000 in total assets, and about $552,000 in total liabilities, according to the Chapter 11 declaration. About $483,000 of those liabilities are from loan programs including the Paycheck Protection Program and two Small Business Administration loans. Carbaugh said the company received the SBA loans prior to the pandemic to help fuel the brand's expansion in South Florida. According to court documents, Bodytek Fitness' Wilton Manors gym, at 2216 N. Dixie Highway, generated $1 million in gross revenue in 2019, $565,000 in gross revenue in 2020. Through mid-April 2021, the business has earned $157,000 in gross revenue in 2021. Carbaugh said capacity continues to be limited to 50% at all Bodytek gyms. Those restrictions, in addition to expenses related to sanitization, have limited revenue for the company, even after reopening. The company has locations in Davie, Weston, Pembroke Pines and Parkland. Three of those gyms are franchise-owned locations. Bodytek's locations in Miami's Wynwood neighborhood and Boca Raton closed permanently during the summer. Both had been open longer than three years. Other Chapter 11 bankruptcy suits were filed for Bodytek Fitness Boca West LLC and Bodytek Fitness Franchising Inc. Michael Verdugo, who is listed as CEO of all three companies, opened the first Bodytek Fitness gym in 2010. Sue Lasky, a Fort Lauderdale-based attorney representing Bodytek Fitness Inc. in the Chapter 11 case, said the Bodytek Fitness in Wilton Manors will reorganize independently from the other gyms, but declined to comment further on what will happen to the other locations. Gyms across South Florida were forced to close in March 2020 due to the pandemic. By last summer, gyms were allowed to reopen across the tri-county area, and many gym owners implemented reduced capacities to allow for social distancing during workouts. About Body Tek Fitness Body Tek Fitness Inc. is a Wilton Manors, Florida-based gym chain. Body Tek Fitness filed for Chapter 11 protection (Bankr. S.D. Fla. Case No. 21-13698) on April 19, 2021. In the petition signed by CEO Michael Verdugo, it disclosed $53,000 in total assets and about $552,000 in total liabilities. Sue Lasky serves as the Debtor's counsel. Simultaneously filing for Chapter 11 protection are related entities Bodytek Fitness Franchising Inc. (Case No 21-13701) and Bodytek Fitness Boca West LLC (Case No. 21-13699). BRACHIUM INC: Seeks to Hire Michael P. Senadenos as Accountant -------------------------------------------------------------- Brachium, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of California to employ Accounting Offices of Michael P. Senadenos, CPA as its general accountant. The Debtor needs an assistance of a general accountant to prepare monthly operating reports, prepare financial statements, prepare tax returns, prepare budgets and projections for a Chapter 11 Subchapter V plan of reorganization, and other work ancillary thereto. The firm will charge $100 per hour for work performed by specific accountant or employee and $1,200 for tax preparation services. Michael Senadenos, CPA, disclosed in a court filing 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: Michael P. Senadenos, CPA Accounting Offices of Michael P. Senadenos, CPA 39420 Liberty Street, Suite 170 Fremont, CA 94538 Telephone: (510)794-4487 Facsimile: (510)745-7496 Email: senocpa@jps.net About Brachium Inc. Brachium, Inc. -- http://brachium.com-- is a healthcare technology startup redefining the dental experience using robotics, machine learning and digital augmentation. Brachium filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Calif. Case No. 21-30047) on Jan. 25, 2021. Yaz Shehab, chief executive officer, signed the petition. 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 Hannah L. Blumenstiel presides over the case. The Debtor tapped Macdonald Fernandez LLP as its bankruptcy counsel, Shumaker Loop & Kendrick, LLP as intellectual property counsel, and Accounting Offices of Michael P. Senadenos, CPA as accountant. BRAZOS ELECTRIC: Committee Hires Kramer Levin as Legal Counsel -------------------------------------------------------------- The official committee of unsecured creditors of Brazos Electric Power Cooperative, Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Kramer Levin Naftalis & Frankel, LLP as its legal counsel. The firm's services include: (a) administration of the Debtor's Chapter 11 case and the exercise of oversight with respect to the Debtor's affairs; (b) preparation of legal papers; (c) appearances in court and participation at statutory meetings of creditors; (d) evaluation and negotiation related to the selection of debtor-in-possession financing; (e) evaluation of other relief sought by the Debtor; (f) investigation, directed by the committee, of the events leading up to, during and after Winter Storm Uri; (g) evaluation and investigation, directed by the committee of, among other things, unencumbered assets (including potentially proceeds of insurance policies), liabilities, financial condition of the Debtor, pre-bankruptcy transactions, and operational issues that may be relevant to the case; (h) evaluation and analysis of the Debtor's contracts with coop members, non-debtor subsidiary and other power suppliers; (i) analysis of the Debtor's proposed employee compensation, incentive and retention payment programs, and evaluation of the propriety of those programs; (j) analysis of potential defenses or objections to significant claims and liabilities; (k) negotiation, formulation, drafting and confirmation of a Chapter 11 plan of reorganization and matters related thereto; (l) communications with the committee's constituents in furtherance of its responsibilities; and (m) performance of all of the committee's duties and powers under the Bankruptcy Code and the Bankruptcy Rules. Kramer Levin will be paid at these rates: Partners $1,100 to $1,575 per hour Counsel $1,105 to $1,525 per hour Special Counsel $1,105 per hour Associates $615 to $1,090 per hour Paraprofessionals $395 to $475 per hour The firm will also be reimbursed for out-of-pocket expenses incurred. In accordance with Appendix B-Guidelines for reviewing fee applications filed by attorneys in large Chapter 11 cases, Kramer Levin provided the following in response to the request for additional information: Question: Did you agree to any variations from, or alternatives to, your standard or customary billing arrangements for this engagement? Response: No. Question: Do any of the professionals included in this engagement vary their rate based on the geographic location of the bankruptcy case? Response: No. Question: If you represented the client in the 12 months prepetition, disclose your billing rates and material financial terms for the prepetition engagement, including any adjustments during the 12 months prepetition. If your billing rates and material financial terms have changed postpetition, explain the difference and the reasons for the difference. Response: The firm did not represent the committee before being selected as its counsel on March 17, 2021. The firm's billing rates have not changed since the petition date. Kramer Levin has in the past represented, currently represents and may represent in the future certain committee members and their affiliates in matters unrelated to the Chapter 11 case, including in their capacities as official committee members in other Chapter 11 cases represented by the firm. Question: Has your client approved your prospective budget and staffing plan, and, if so for what budget period? Response: Kramer Levin will be providing a prospective budget and staffing plan. Amy Caton, Esq., a partner at Kramer Levin, 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: Amy Caton, Esq. Kramer Levin Naftalis & Frankel, LLP 1177 Avenue of the Americas New York, NY 10036 Tel: (212) 715-9100/(212) 715-7772 Fax: (212) 715-8000 Email: acaton@kramerlevin.com Brazos Electric Power Cooperative Brazos Electric Power Cooperative Inc. 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, Brazos Electric 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 filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 21-30725) on March 1, 2021. At the time of the filing, the Debtor disclosed assets of between $1 billion and $10 billion and liabilities of the same range. Judge David R. Jones oversees the case. The Debtor tapped Norton Rose Fulbright US, LLP as its bankruptcy counsel; Foley & Lardner LLP and Eversheds Sutherland US LLP as special counsel; Collet & Associates LLC as investment banker; and Berkeley Research Group, LLC as financial advisor. Stretto is the claims and noticing agent. The U.S. Trustee for Region 7 appointed an official committee of unsecured creditors in the Debtor's case on March 15, 2021. The committee is represented by the law firms of Porter Hedges, LLP and Kramer, Levin, Naftalis & Frankel, LLP. BRAZOS ELECTRIC: Committee Hires Porter Hedges as Co-Counsel ------------------------------------------------------------ The official committee of unsecured creditors of Brazos Electric Power Cooperative, Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Porter Hedges, LLP. Porter Hedges will serve as co-counsel with Kramer Levin Naftalis & Frankel, LLP, the other law firm tapped to represent the committee in the Debtor's Chapter 11 case. Porter Hedges will provide these services: a. assist the committee in connection with the administration of the case and oversee the Debtor's affairs; b. assist the committee in its communications and negotiations with the Debtor and other stakeholders regarding the administration of the case; c. assist the committee in investigating the acts, conduct, assets, liabilities, and financial condition of the Debtor, the operation of the Debtor's business, and any other matters relevant to the case or to the formulation of a Chapter 11 plan; d. assist the committee in analyzing the Debtor's assets and liabilities and in investigating the extent and validity of liens and related contested matters; e. advise the committee with respect to the Debtor's post-petition financing transactions and cash collateral issues; f. analyze the Debtor's proposed employee compensation, incentive and retention payment programs, and evaluate the propriety of those programs; g. represent the committee in the negotiation and formulation of a disclosure statement and plan of reorganization; h. request the appointment of a trustee or examiner as provided for under Section 1104 of the Bankruptcy Code; i. communicate with the committee's constituents in furtherance of its responsibilities; j. assist the committee in any manner relevant to preserving and protecting the Debtor's estate and the rights of creditors; k. assist the committee regarding the evaluation of claims, preferences, fraudulent transfers and other actions; l. prepare legal papers; m. appear in court; and n. perform all other legal services which may be necessary and proper in the Debtor's case. Porter Hedges will be paid at these rates: Partners $420 to $970 per hour Of Counsel $300 to $870 per hour Associates/Staff Attorneys $315 to $620 per hour Paralegals $200 to $400 per hour The firm will also be reimbursed for out-of-pocket expenses incurred. In accordance with Appendix B-Guidelines for reviewing fee applications filed by attorneys in larger Chapter 11 cases, Porter Hedges provided the following in response to the request for additional information: Question: Did you agree to any variations from, or alternatives to, your standard or customary billing arrangements for this engagement? Response: No. Question: Do any of the professionals included in this engagement vary their rate based on the geographic location of the bankruptcy case? Response: No. Question: If you represented the client in the 12 months prepetition, disclose your billing rates and material financial terms for the prepetition engagement, including any adjustments during the 12 months prepetition. If your billing rates and material financial terms have changed postpetition, explain the difference and the reasons for the difference. Response: The firm did not represent the Committee before being selected as its counsel on March 17, 2021. The firm's billing rates have not changed since the Petition Date. The firm has in the past represented, currently represents and may represent in the future certain Committee members and their affiliates. Question: Has your client approved your prospective budget and staffing plan, and, if so for what budget period? Response: Porter Hedges will be providing a prospective budget and staffing plan. John Higgins, Esq., a partner at Porter Hedges, disclosed in a court filing that his firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: John F. Higgins, Esq. Porter Hedges LLP 1000 Main St. 36th Floor Houston, TX 77002 Tel: (713) 226-6000/(713) 226-6648 Fax: (713) 226-6248 Email: jhiggins@porterhedges.com Brazos Electric Power Cooperative Brazos Electric Power Cooperative Inc. 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, Brazos Electric 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 filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 21-30725) on March 1, 2021. At the time of the filing, the Debtor disclosed assets of between $1 billion and $10 billion and liabilities of the same range. Judge David R. Jones oversees the case. The Debtor tapped Norton Rose Fulbright US, LLP as its bankruptcy counsel; Foley & Lardner LLP and Eversheds Sutherland US LLP as special counsel; Collet & Associates LLC as investment banker; and Berkeley Research Group, LLC as financial advisor. Stretto is the claims and noticing agent. The U.S. Trustee for Region 7 appointed an official committee of unsecured creditors in the Debtor's case on March 15, 2021. The committee is represented by the law firms of Porter Hedges, LLP and Kramer, Levin, Naftalis & Frankel, LLP. CALIFORNIA-NEVADA: Seeks to Hire Ziegler as Financial Advisor ------------------------------------------------------------- California-Nevada Methodist Homes seeks approval from the U.S. Bankruptcy Court for the Northern District of California to employ B.C. Ziegler and Company as its financial advisor. Ziegler will render these services: (a) analyze and evaluate the business, operations and financial position of the Debtor's continuing care retirement communities; (b) prepare materials suitable for distribution and presentation to a select group of qualified potential buyers, affiliates, or merger candidates; (c) populate, maintain, and utilize an online virtual data room for dissemination of information to potential purchasers; (d) present the Debtor with specific acquisition proposals from qualified purchasers, and assist the Debtor in the screening of interested prospective purchasers; (e) assist the Debtor in evaluating proposals which are received from potential purchasers; (f) assist the Debtor in developing a process to select a stalking horse bidder; (g) assist the Debtor in structuring and negotiating the sale; (h) assist the Debtor's legal counsel with suggested forms of a purchase and sale, affiliation, or merger agreement, as applicable; (i) assist the Debtor in structuring and facilitating an auction (if necessary); (j) coordinate with the Debtor, its constituents, and counsel as necessary and appropriate; (k) provide such other investment banking services; (l) attend and participate in court proceedings as necessary; and (m) meet with the Debtor's representatives to discuss the proposed sale and its financial implications. Ziegler will be compensated based on this fee structure: (a) Transaction success fee equal to the greater of (i) 2.25 percent of the aggregate consideration for a sale transaction, and (ii) $450,000, which shall be due and payable by the Debtor at closing of the sale. (b) Expense reimbursement for out-of-pocket expenses. Dan Revie, a managing director at B.C. Ziegler and Company, disclosed in a court filing 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: Dan Revie B.C. Ziegler and Company One North Wacker Drive, Suite 2000 Chicago, IL 60606 Telephone: (800) 366-8899 Email: drevie@ziegler.com About California-Nevada Methodist Homes California-Nevada Methodist Homes -- http://www.cnmh.org/-- is a California non-profit public benefit corporation that operates nursing homes and long-term care facilities. It presently operates two continuing care retirement communities, one known as Lake Park, in Oakland Calif., and the other, known as Forest Hill, in Pacific Grove, Calif. On March 16, 2021, California-Nevada Methodist Homes filed a Chapter 11 petition (Bankr. N.D. Calif. Case No. 21-40363). The Debtor estimated assets of $10 million to $50 million and liabilities of $50 million to $100 million. The Hon. Charles Novack is the case judge. The Debtor tapped Hanson Bridgett LLP, led by Neal L. Wolf, Esq., as counsel; and Silverman Consulting and B.C. Ziegler and Company as financial advisors. Stretto LLC is the claims agent. CARLA'S PASTA: Seeks Cash Collateral Access Thru June 1 ------------------------------------------------------- Carla's Pasta, Inc. and Suri Realty, LLC ask the U.S. Bankruptcy Court for the District of Connecticut, Hartford Division, for authority to, among other things, continue using cash collateral and to extend the Termination Date under the Final Order until June 1, 2021. The continued use of Cash Collateral will allow the Debtors to pay their limited but necessary operating expenses, address any post-sale closing transition expenses, commence an orderly winddown of the remaining business operations, and fund related administrative expenses, as set forth in the budget. No further DIP Loans are required by the Debtors and they intend to pay in full all amounts due under the DIP Loan Documents (as defined in the Final Order, defined herein) at the closing of the pending sale of substantially all of their assets. Although no additional borrowings are required to complete the administration of the Chapter 11 Cases, the Debtors will continue to require use of Cash Collateral. The Lenders previously agreed to the Debtors' use of Cash Collateral in accordance with the terms contained in the Final Order, including in the amounts, categories and times set forth in the Approved Budget, which included: (a) operational expenses of the Debtors and the Facility; and (b) other costs and expenses of administration of the Chapter 11 Cases. The Lenders' consent has been sought with respect to the Supplemental Budget and to the extension of the Termination Date to June 1, 2021, but has not yet been obtained. The terms for the use of Cash Collateral are set forth in the Final Order and remain unaltered, except for the Termination Date, Supplemental Budget and these technical changes: (a) Supplemental Budget: The Debtors' use of Cash Collateral is authorized as set forth in the Supplemental Budget. Use of Cash Collateral other than as set forth in Final Order as amended by the Supplemental Order is prohibited. (b) Termination Date: The Debtors' authority to use Cash Collateral is extended to, and will terminate on, June 1, 2021, unless further extended by consent of the Lenders or order of the Bankruptcy Court. (c) Termination Events: Termination events based on milestones which have been met or events that are no longer applicable have been deleted. A copy of the motion and the Debtors' budget through the week ending May 29 is available at https://bit.ly/3sP22o8 from Stretto, the claims agent. The Debtors project total disbursements of $5,730,889 and net cash flow of $20,683,230. 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. CHESAPEAKE ENERGY: CEO Lawler Departs After Bankruptcy Exit ----------------------------------------------------------- Simon Casey of Bloomberg News reports that Chesapeake Energy Corp. Chief Executive Officer Doug Lawler is exiting less than three months after the oil and gas company, a one-time icon of the U.S. shale boom, emerged from bankruptcy. Lawler's departure is effective April 30, 2021 and Chesapeake's board is searching for a replacement, the Oklahoma City-based company said Tuesday in a statement. Chairman Mike Wichterich will serve as interim CEO. Lawler led the company for almost eight years, a tumultuous time for Chesapeake as it grappled with, and was eventually overwhelmed by, huge debts racked up during an earlier period of soaring energy prices. About Chesapeake Energy Headquartered in Oklahoma City, Chesapeake Energy Corporation's (NASDAQ: CHK) operations are focused on discovering and responsibly developing its large and geographically diverse resource base of unconventional oil and natural gas assets onshore in the United States. Chesapeake Energy and its affiliates sought Chapter 11 protection (Bankr. S.D. Tex. Lead Case No. 20-33233) on June 28, 2020, after reaching terms of a Chapter 11 plan of reorganization to eliminate approximately $7 billion of debt. The Debtors tapped Kirkland & Ellis LLP as legal counsel, Jackson Walker LLP as co-counsel and conflicts counsel, Alvarez & Marsal as restructuring advisor, Rothschild & Co and Intrepid Financial Partners as financial advisors, and Reevemark as communications advisor. Epiq Global is the claims agent, maintaining the page http://www.chk.com/restructuring-information Wachtell, Lipton, Rosen & Katz serves as legal counsel to Chesapeake Energy's Board of Directors. MUFG Union Bank, N.A., the DIP facility agent and exit facilities agent, has tapped Sidley Austin LLP as legal counsel, RPA Advisors LLC as financial advisor, and Houlihan Lokey Capital Inc. as investment banker. Davis Polk & Wardell LLP and Vinson & Elkins L.L.P. serve as legal counsel to an ad hoc group of first lien last out term loan lenders while Perella Weinberg Partners and Tudor, Pickering, Holt & Co. serve as the group's investment bankers. Franklin Advisers, Inc., has tapped Akin Gump Strauss Hauer & Feld LLP as legal counsel, FTI Consulting, Inc. as financial advisor, and Moelis & Company LLC as investment banker. On July 9, 2020, the Office of the U.S. Trustee appointed a committee to represent unsecured creditors in Debtors' Chapter 11 cases. The unsecured creditors' committee has tapped Brown Rudnick, LLP and Norton Rose Fulbright US, LLP as its legal counsel, and AlixPartners, LLP as its financial advisor. On July 24, 2020, the bankruptcy watchdog appointed a committee of royalty owners. The royalty owners' committee is represented by Forshey & Prostok, LLP. CHIEF CORNERSTONE: Seeks to Hire Vohwinkel Law as Legal Counsel --------------------------------------------------------------- Chief Cornerstone Builders, LLC seeks approval from the U.S. Bankruptcy Court for the District of Nevada to employ Vohwinkel Law to handle its Chapter 11 case. Vohwinkel Law will be paid at these rates: Attorneys $375 per hour Paraprofessionals $175 per hour The firm will also be reimbursed for out-of-pocket expenses incurred. The retainer fee is $6,738. Rory Vohwinkel, Esq., a partner at Vohwinkel Law, 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: Rory J. Vohwinkel, Esq. Vohwinkel Law 6272 Spring Mountain Road, Suite 110 Las Vegas, NV 89146 Tel: (702) 735-1500 Fax: (702) 735-0505 Email: rory@vohwinellaw.com About Chief Cornerstone Builders Chief Cornerstone Builders, LLC, a Las Vegas-based company, sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Nev. Case No. 21-11172) on March 11, 2021. Chief Cornerstone President Tess Pascual signed the petition. In the petition, the Debtor disclosed assets of $1,126,471 and liabilities of $1,201,213. Natalie M. Cox oversees the case. Vohwinkel Law is the Debtor's legal counsel. CMG CAPITAL: Seeks to Hire Kang & Company as Accountant ------------------------------------------------------- CMG Capital, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ Kang & Company Financial Solutions, LLC as its accountant. The Debtor needs the assistance of an accountant to prepare its past-due federal income tax returns (2017-2020) and any related services that may be appropriate. Kang proposes to charge $600 per tax return and estimates that its total fee should not exceed $2,400. As disclosed in court filings, Kang & Company Financial Solutions is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Kang & Company Financial Solutions LLC 539 W. Commerce St. Dallas, TX 75208 Telephone: (832) 966-0777 Email: info@kangcofinancial.com About CMG Capital CMG Capital, LLC filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 21-12013) on Feb. 27, 2021. Steven Suh, member, signed the petition. In the petition, the Debtor disclosed $1 million to $10 million in both assets and liabilities. Judge Jay A. Cristol oversees the case. The Debtor tapped Nathan G. Mancuso, Esq., at Mancuso Law, PA, as legal counsel and Kang & Company Financial Solutions, LLC as accountant. CMG CAPITAL: Seeks to Tap Trustee Realty as Real Estate Broker -------------------------------------------------------------- CMG Capital, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ Trustee Realty Inc. as its exclusive real estate broker. The Debtor needs the assistance of a broker to market its commercial office building located at 232 SW 8th St., Miami, Fla. The Debtor proposes that the total brokerage fee payable at the closing of any sale of the property be equal to 4 percent of the gross purchase price, with 2 percent payable to any buyer's broker, or 2.5 percent to Trustee Realty if there is no buyer's broker. Jason Welt, a broker at Trustee Realty, disclosed in a court filing 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: Jason A. Welt Trustee Realty Inc. 2200 N. Commerce Pkwy., Suite 200 Weston, FL 33326 Telephone: (954) 803-0790 Email: jw@jweltpa.com About CMG Capital CMG Capital, LLC filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 21-12013) on Feb. 27, 2021. Steven Suh, member, signed the petition. In the petition, the Debtor disclosed $1 million to $10 million in both assets and liabilities. Judge Jay A. Cristol oversees the case. The Debtor tapped Nathan G. Mancuso, Esq., at Mancuso Law, PA, as counsel and Kang & Company Financial Solutions LLC as accountant. COLLECTED GROUP: Seeks to Hire 'Ordinary Course' Professionals -------------------------------------------------------------- The Collected Group, LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the District of Delaware to employ "ordinary course" professionals. The Debtors customarily retain the services of various attorneys, accountants, and other professionals to represent them in matters arising in the ordinary course of their business and unrelated to their Chapter 11 cases. The ordinary course professionals expected to be utilized by the Debtors during the pendency of these Chapter 11 cases and the cap for their expenses and fees are: Beach Cities Law Group, Inc., litigation legal services, $10,000; Pearne & Gordon LLP, intellectual property legal services, $15,000; Jackson Lewis P.C., labor and employment legal services, $15,000; Littler Mendelson P.C., 401k audit services, $15,000; Olshan Frome Wolosky LLP, real estate and intellectual property legal services, $15,000; and Deloitte Tax LLP, tax services, $50,000. As disclosed in court filings, the ordinary course professionals do not represent or hold any interest adverse to the Debtors or their estates. About The Collected Group The Collected Group and four affiliates filed for Chapter 11 bankruptcy (Bankr. D. Del. Lead Case No. 21-10663) on April 5, 2021. In the petitions signed by CRO Evan Hengel, the Debtors estimated assets of between $50 million and $100 million and liabilities of between $100 million and $500 million. The Honorable Judge Laurie Selber Silverstein is the case judge. Founded in 2001, The Collected Group, LLC is a designer, distributor and retailer of three contemporary, consumer-inspired, apparel lifestyle brands: Joie, Equipment, and Current/Elliott. TCG, the ultimate parent company, wholly owns Debtors RBR, LLC and The Collected Group Company, LLC. RBR wholly owns non-debtor The Collected Group Holdings Manager, LLC, which, in turn, wholly owns non-debtor The Collected Group Holdings, LLC. Paul, Weiss, Rifkind, Wharton & Garrison, LLP and Young Conaway Stargatt & Taylor, LLP serve as the Debtors' legal counsel while Miller Buckfire & Co., LLC and its affiliate, Stifel, Nicolaus & Co., Inc., serve as financial advisor and investment banker. The Debtors also tapped Berkeley Research Group, LLC and appointed the firm's managing director, Evan Hengel, as their chief restructuring officer. Epiq Corporate Restructuring LLC is the claims agent and administrative advisor. COMANCHE XPRESS: Harris Buying 2008 Sterling 89246 Day Cab for $10K ------------------------------------------------------------------- Comanche Xpress, LLC, asks the U.S. Bankruptcy Court for the Western District of Texas to authorize the direct sale of its 2008 Sterling 89246, Day Cab, Semi-Tractor, VIN 2FWJA3CV88AY99751, to Michael Harris for $10,000. Objections, if any, must be filed within 21 days from the date of notice service. The Debtor proposes to sell the Vehicle located at its principal place of business at 2250 Ridge Point Drive, Apt. 204, in Austin, Texas. The Buyer is a third party. Given the year, make, model, mileage, and condition of this vehicle, the proposed purchase price is fair and reasonable. No amount is due and owing on the Vehicle to any creditor. The Debtor owns the Vehicle free and clear of any obligation or encumbrance. About Comanche Xpress Comanche Xpress, LLC filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Texas Case No. 20-11382) on Dec. 31, 2020. Judge Tony M. Davis oversees the case. Joyce W. Lindauer Attorney, PLLC serves as the Debtor's counsel. CONDOR HOSPITALITY: Incurs $19.1 Million Net Loss in 2020 --------------------------------------------------------- Condor Hospitality Trust, Inc. filed with the Securities and Exchange Commission its Annual Report on Form 10-K disclosing a net loss of $19.07 million on $35.19 million of revenue for the year ended Dec. 31, 2020, compared to a net loss of $5.07 million on $61.05 million of revenue for the year ended Dec. 31, 2019. As of Dec. 31, 2020, the Company had $275.19 million in total assets, $198.91 million in total liabilities, and $76.28 million in total equity. McLean, Virginia-based KPMG LLP, the Company's auditor since 2001, issued a "going concern" qualification in its report dated March 18, 2021, citing that the Company has not met its financial covenants under a mortgage agreement as of Dec. 31, 2020 and is currently in default on that mortgage, which under certain conditions may also result in a potential default on its credit facility due to a cross-default clause within the credit facility, which raises substantial doubt about its ability to continue as a going concern. A full-text copy of the Form 10-K is available for free at: https://www.sec.gov/Archives/edgar/data/929545/000092954521000008/cdor-20201231x10k.htm About Condor Hospitality Headquartered in Norfolk, Nebraska, Condor Hospitality Trust, Inc. -- www.condorhospitality.com -- is a self-administered real estate investment trust ("REIT") for federal income tax purposes that specializes in the investment and ownership of high-quality select-service, limited-service, extended stay, and compact full service hotels. As of Dec. 31, 2020, the Company owned 15 hotels, representing 1,908 rooms, in eight states. CONNECTIONS COMMUNITY: Seeks Access to Cash Collateral ------------------------------------------------------ Connections Community Support Programs, Inc., asked the U.S. Bankruptcy Court for the District of Delaware to authorize the use of cash collateral of Wilmington Savings Fund Society, FSB, to pay, pursuant to the budget, the expenses incurred to administer the Debtor's estate, and pay the carve out and working capital necessary to ensure the seamless continuation of critical healthcare services the Debtor provides to its patients. The Debtor is seeking to use cash collateral until the earlier of (a) 5:00 p.m. (Eastern Time) on June 30, 2021; (b) the date on which an event of default occurs; (c) the date of the consummation of any sale of all, substantially all, or any material portion of the Debtor's property and assets; (d) the effective date of a Chapter 11 plan for the Debtor; and (e) 5:00 p.m. (Eastern Time) on the date of the final hearing. Before the Petition Date, WSFS made available to the Debtor a revolving line of credit of up to $9,000,000 in maximum aggregate principal amount. The Debtor granted WSFS a lien on and security interest in all of its personal property and assets, including, all accounts, contract rights, goods, inventory, equipment, deposit accounts (other than the Non-Controlled Deposit Account), general intangibles, and all cash and non-cash proceeds thereof. Also before the Petition Date, the Debtor borrowed from WSFS $1,200,000 in original principal amount under a pre-petition term loan for which the Debtor executed several mortgages in favor of WSFS on certain of its real property in Sussex County, Kent County, and New Castle, County, Delaware, to secure the pre-petition term loan obligations. The parties later entered into a forbearance agreement pursuant to which the pre-petition personal property collateral would also secure the Debtor's obligations under the pre-petition term loan. The pre-petition personal property collateral also secures the Debtor's obligation arising from use of a business credit card WSFS made available to the Debtor. Furthermore, the Debtor is also a party to various pre-petition secured equipment and personal property leases with certain Equipment Lessors. Both WSFS and the Equipment Lessors have filed UCC financing statements for their interests. Following arm's-length negotiations, the Debtor and WSFS agreed to the Debtor's use of the cash collateral on certain terms and conditions. The parties agreed to a Carve-Out consisting of (a) allowed and unpaid professional fees and costs incurred after the delivery of the carve-out trigger notice of up to $100,000, (b) allowed and unpaid professional fees and costs incurred prior to the delivery of the carve-out trigger notice to the extent the same were incurred according to the budget and the interim order and do not exceed the budgeted amount for the period of time prior to the delivery of the carve-out trigger notice, (c) fees for allowed administrative expenses, and (d) up to $25,000 in fees and disbursements for any trustee appointed under Chapter 7 of the Bankruptcy Code. The parties also agreed that: * the Debtor, to be able to continue using cash collateral, must meet certain milestones, including milestones to: (i) obtain a Final Order, (ii) obtain a Bidding Procedures Order; (iii) conduct an auction; (iv) obtain a Sale Order; and (v) close on a sale transaction. * only $25,000 of cash collateral may be used to pay the allowed Professional Fees and Costs of the Committee's approved counsel incurred during the Challenge Period to investigate the Prepetition Obligations, the Prepetition Liens, and the Prepetition Loan Documents. As adequate protection from the diminution in value of the cash collateral, the Debtor proposed to grant WSFS: (a) valid, binding, enforceable, non-avoidable and automatically perfected additional and replacement security interests in, and liens on, all of the Debtor's property and assets, with priority junior to the pre-petition liens held by WSFS subject only to the carve-out and any permitted existing liens, and (b) an allowed super-priority administrative expense claim with priority over all other administrative claims, but subject to the carve out, for any diminution in value of WSFS's interest in property of the estate. A copy of the motion is available for free at https://bit.ly/3guFtCu from PacerMonitor.com at no charge. About Connections Community Support Programs Connections Community Support Programs Inc. is a multifaceted not-for-profit 501(c)(3) health and human services organization operating and founded in Delaware with over 100 locations throughout the State of Delaware and more than 1,100 employees. Since its founding in 1985, CCSP has grown from providing assistance to older adults with lifelong histories of psychiatric hospitalization to one of Delaware's largest nonprofit organizations that touches the lives of approximately 10,000 of Delaware's most vulnerable citizens and their families, dealing with behavioral health and substance use disorders, housing challenges, and developmental and intellectual disabilities. The Organization leases 408 properties (including 389 leased facilities associated with housing and veterans' services) and owns 48 properties. On April 19, 2021, Connections Community Support Programs Inc. filed for Chapter 11 protection (Bankr. D. Del. Case No. 21-10723) on April 19, 2021. The Debtor estimated assets and debt of $50 million to $100 million as of the bankruptcy filing. CHIPMAN BROWN CICERO & COLE, LLP, led by Mark L. Desgrosseilliers, is the Debtor's counsel. SSG ADVISORS, LLC, is the investment banker. OMNI AGENT SOLUTIONS is the claims and noticing agent. CORNUS MONTESSORI: May 11 Hearing on Sale of All Business Assets ---------------------------------------------------------------- Cornus Montessori, LLC, filed with the U.S. Bankruptcy Court for the Eastern District of Virginia a notice of proposed sale of substantially all of its business assets to S2 Ventures, LLC, for $95,500, pursuant to the terms and conditions of an Asset Purchase Agreement, dated April 14, 2021. The Hearing on the Motion is set for May 11, 2021 at 11:00 a.m. The hearing will be contacted virtually though the ZOOM application and the remote hearing procedures established by the Court and available on the Court's website (https://www.vaeb.uscourts.gov). The Objection Deadline is May 4, 2021. A copy of the APA is available at https://tinyurl.com/4mkfpvw from PacerMonitor.com free of charge. About Cornus Montessori Cornus Montessori, LLC, owner of a Montessori school and daycare business in Chantilly, Va., sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Va. Case No. 21-10213) on Feb. 11, 2021. At the time of the filing, the Debtor was estimated to have assets of less than $50,000 and liabilities of $100,001 to $500,000. Judge Klinette H. Kindred oversees the case. The Debtor tapped Roganmillerzimmerman, PLLC as its legal counsel and JV Solutions, LLC (doing business as Verma CPA & Associates) as its accountant. CORNUS MONTESSORI: S2 Ventures Buying Business Assets for $95.5K ---------------------------------------------------------------- Cornus Montessori, LLC, asks the U.S. Bankruptcy Court for the Eastern District of Virginia to authorize the sale of substantially all of its business assets to S2 Ventures, LLC, for $95,500. Cornus was organized in 2015 to own and operate a Montessori school in Chantilly, Virginia. The school opened in January 2017 and operated until it was forced to close in March 2020, due to the COVID pandemic and the governmental restrictions placed upon businesses at that time. Lloyd Telford is the principal of Cornus. On the Petition Date, Mr. Telford filed his own separate petition for relief under Chapter 11 of the Bankruptcy Code, thereby commencing Case No. 21-10216-KHK with the Court. Venous Memari is Mr. Telford's wife. Ms. Memari is not a debtor under the Bankruptcy Code, but currently receives the protections of the automatic stay as provided by the terms of that certain Order entered on April 8, 2021 in the Cornus and Telford Bankruptcy Cases. The Debtor operated the Montessori school in commercial premises located at 13880 Metrotech Drive, Chantilly, Virginia, which is leased from The Sully Limited Partnership, pursuant to the terms of a Lease dated Nov. 30, 2015. The Lease was personally guaranteed by both Mr. Telford and Ms. Memari. Mr. Telford operated the school from January 2017 until the end of 2019. While he was successful in building the business and attracting students, the school was never profitable to the point of enabling Mr. Telford to draw a salary or any other form of compensation since the school opened. In late 2019, Mr. Telford began negotiations and reached an agreement with a potential purchaser of the school. The proposed sale provided for a sales price of $325,000 and the assumption of the Lease obligations. In anticipation of the sale, the proposed buyer assumed management of the school. The buyer managed the business and operated the school from January to March 2020, when the school was forced to abruptly and unexpectedly close due to the COVID pandemic and the resulting closure orders. The school remained closed for the balance of the 2020. At the time the school was required to close, the Debtor was current on its rent and other obligations to the Landlord (as well as to all of its other vendors and creditors). However, after the school was required to close and had no further revenue, the company was unable to keep the rent current. The Debtor remained in communication with the Landlord during this time, while it tried to figure out how to survive, pay its creditors and protect the value of the investment that had been made in the business. In the summer and fall of 2020, the Debtor attempted to revive the discussions with the potential purchaser, who was still interested in purchasing the school. The prospective purchaser and the Debtor's broker reached out to the Landlord in an effort to move the lease assignment discussion forward. The Landlord communicated that it was not interested in a lease assignment to the original proposed purchaser, who had successfully managed the operation prior to the COVID outbreak and resulting shutdown. In December 2020, the Landlord commenced an unlawful detainer action, in the Fairfax General District Court, for the purpose of recovering possession of the Leased Premises and obtaining a judgment for unpaid rent against the Debtor and Mr. Telford and Ms. Memari, as guarantors. On the Petition Date, the Debtor and Mr. Telford each each commenced their respective Bankruptcy Cases, thereby staying the Fairfax Action pursuant to section 362 of the Bankruptcy Code. The Bankruptcy Cases were each filed for the purpose of protecting the Debtor's business and Mr. Telford's assets and to allow Cornus an opportunity to reorganize its business and financial affair, either by reopening the school or attempting to sell the assets. The Debtor has now negotiated the terms of a sale of its business assets to S2 and asks approval of the terms of sale in the case. As the Debtor was unable to revive the prior sale that was negotiated at the end of 2019, the Debtor engaged the services of Kian Veissy Real Estate Services (the broker who had been previously used) to list the business and attempt to find a buyer. The broker was able to quickly identify several potential sales opportunities and elicited two offers. After vetting the two proposals, the broker recommended the sale for which the Debtor now seeks approval. On March 30, 2021, a Letter of Intent ("LOI") was submitted by S2 for the purchase of substantially all of the business assets of the Debtor. Pursuant to the terms of the LOI, the Buyer has paid a $25,000 deposit into escrow, which would be applied against the purchase price. An Asset Purchase Agreement, dated April 14, 2021, was negotiated and signed by the Debtor and the Purchaser. The APA provides for the sale of the Assets, excluding cash and other Excluded Assets, as defined in the APA, for a purchase price of $95,500. Included as conditions to closing are (a) the Purchaser obtaining all permits and licenses necessary to operate the school; (b) approval of the sale by the Court; and, (c) assignment of the Lease to the Purchaser. The APA anticipates a closing by June 1, 2021, with the school being reopened by mid-June. The Purchaser is responsible for applying for and obtaining the necessary permits and licenses, and has or will very shortly be applying for such with the appropriate agencies of the Fairfax County, Virginia government. By the Motion, the Debtor asks approval of the proposed sale of assets, to the Purchaser, pursuant to the terms and conditions of the APA. The Debtor is currently attempting to negotiate the terms of an assignment of the Lease with the Landlord. The Debtor will file a motion for the approval of its assumption and assignment of the Lease as soon as it is determined whether or not a consensual assignment can be negotiated. It is anticipated that most, if not all, of the Sales Proceeds will be used toward the cure of the arrearages on the Lease. The Debtor believes that the proposed sale of its assets represents the highest and best price that can be obtained at this time, given its current situation and the state of the market, the economy and the continuing and uncertain health and occupancy restrictions. The proposed sale will enable the Debtor to maximize the value of the assets and avoid further rent and other obligations under the Lease, while it is not currently generating any revenue. The Debtor asks authority to sell its assets, pursuant to the terms APA, free and clear of all liens, claims and encumbrances. There are no known liens encumbering the assets to be sold under the APA, other than a potential statutory lien to the Landlord. A copy of the APA is available at https://tinyurl.com/4mkfpvw from PacerMonitor.com free of charge. About Cornus Montessori Cornus Montessori, LLC, owner of a Montessori school and daycare business in Chantilly, Va., sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Va. Case No. 21-10213) on Feb. 11, 2021. At the time of the filing, the Debtor was estimated to have assets of less than $50,000 and liabilities of $100,001 to $500,000. Judge Klinette H. Kindred oversees the case. The Debtor tapped Roganmillerzimmerman, PLLC as its legal counsel and JV Solutions, LLC (doing business as Verma CPA & Associates) as its accountant. CORONADO CAPITAL: Seeks to Tap Miranda & Maldonado as Legal Counsel ------------------------------------------------------------------- Coronado Capital Investment, Inc. seeks approval from the U.S. Bankruptcy Court for the Western District of Texas to employ Miranda & Maldonado, PC as its legal counsel. Miranda & Maldonado will render these legal services: (a) advise the Debtor regarding its powers and duties in the continued operation and management of its business; (b) attend the initial debtor conference and creditors' meeting; (c) prepare legal papers; (d) review the Debtor's pre-bankruptcy executory contracts and unexpired leases and determine which should be assumed or rejected. (e) prepare a disclosure statement and negotiate a plan of reorganization with the creditors in the Debtor's Chapter 11 case; and (f) perform all other necessary legal services for the Debtor. The Debtor agrees to pay Miranda & Maldonado a pre-bankruptcy retainer of $4,300 and monthly payments during the pendency of its Chapter 11 proceeding in the amount of up to $1,000. The hourly rates of Miranda & Maldonado's counsel and staff are as follows: Carlos A. Miranda, Esq. $300 Carlos G. Maldonado, Esq. $250 Legal Assistant $125 In addition, Miranda & Maldonado will seek reimbursement for expenses incurred. Carlos Miranda, Esq., an attorney at Miranda & Maldonado, disclosed in a court filing 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: Carlos A. Miranda, Esq. Carlos G. Maldonado, Esq. Miranda & Maldonado, PC 5915 Silver Springs, Bldg. 7 El Paso, TX 79912 Telephone: (915) 587-5000 Facsimile: (915) 587-5001 Email: cmiranda@eptxlawyers.com cmaldonado@eptxlawyers.com About Coronado Capital Investment Coronado Capital Investment, Inc. filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Tex. Case No. 21-30264) on April 5, 2021, listing under $1 million in both assets and liabilities. Doug Rutter, principal and sole shareholder, signed the petition. Judge H. Christopher Mott oversees the case. Miranda & Maldonado, PC serves as the Debtor's legal counsel. CROWN REMODELING: Wins Access to Cash Collateral Thru Aug. 13 ------------------------------------------------------------- Judge David E. Rice authorized Crown Remodeling, LLC to continue using pre-petition collateral, including cash collateral, from February 1, 2021 through and including August 13, 2021, to pay ordinary course expenses of the Debtor's business. The Court ruled that creditors are entitled to a replacement lien in all post-petition assets of the Debtor, to the same extent and with the same priority as the creditor's interest in the pre-petition collateral. The Court further ruled that the provisions of the current interim order shall survive the entry of any order (i) confirming any plan of reorganization in the Debtor's case, (ii) converting the Debtor's case to a Chapter 7 case, or (iii) dismissing the case. Objections to the Debtor's use of the cash collateral must be filed no later than August 9, 2021. Hearing on the motion is also scheduled for August 9 at 3 p.m. About Crown Remodeling, LLC Based in Owings Mills, Md., Crown Remodeling, LLC -- https://www.crownremodelingllc.com/ -- is a general contractor that offers roofing installation, storm damage repair, window services, chimney repair, and lead paint services. Crown Remodeling sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Md. Case No. 20-20690) on Dec. 10, 2020. Crown Remodeling President Jeff Weissberg signed the petition. At the time of the filing, the Debtor had total assets of $231,157 and liabilities of $1,219,792. Judge David E. Rice oversees the case. The Debtor tapped Jeffrey M. Sirody and Associates as its legal counsel and Luxenburg & Bonfin, LLC as its accountant. Scott Miller is appointed as Subchapter V Trustee in the Debtor's case. DENNIS M. DANZIK: U.S. Needs Time to Object to Sale of 2 Batmobiles ------------------------------------------------------------------- The United States asks the U.S. Bankruptcy Court for the District of Wyoming to extend time to object to Dennis Meyer Danzik's proposed sale to Hinz Consulting, LLC, or its assigns for $380,000, of the following automobiles free of all liens and encumbrances: 1. 1966 Batmobile [DC Comics license number 3] which has been rebuilt on a 1967 Ford Fairlane and 1977 Lincoln Continental frames, with a current motor and drive system consisting of a 2009 Ford 460 ci large block engine, and B&M racing transmission. Along with DC Comics License Tag. Arizona Title Number: 345E015047014 ODOMETER: 0 [Historic Vehicles] Titled last as 1977 Lincoln Continental 4DSD Vehicles Identification Number: 7YB2A960425 2. 1989 Batmobile [Warner Brothers licensed] which has been rebuilt on a 1979 Chevrolet CCL frame, with a current motor and drive system consisting of a 2013 L-3 6.2 liter Corvette C-6 engine and a B&M racing transmission. Along with Warner-Brothers License. Arizona Title Number: 0L01013178055 ODOMETER: 0 [Historic Vehicles] Titled last as 1979 Chevrolet CCL Vehicles Identification Number: 1N47L91338703 The United States has several concerns with the motion, agreement and proposed order filed by the Debtor and recently conveyed those concerns to the Debtor's counsel. The counsel for the parties agreed to work toward a possible informal resolution of the issues surrounding the motion and proposed sale, but additional time is needed to negotiate a possible resolution. The parties agreed that an extension of the deadline for objecting to the proposed sale motion was appropriate. The Debtor does not oppose the relief requested in the motion. For the foregoing reasons, the United States respectfully asks a 14-day extension of time, to and including April 30, 2021, to file an objection to the Debtor's Motion. Dennis Meyer Danzik sought Chapter 11 protection (Bankr. D. Wyo. Case No. 20-20010) on Jan. 10, 2020. The Debtor tapped Ken McCartney, Esq., as counsel. DESOTO OWNERS: Unsecureds to Split At Least $600,000 in Joint Plan ------------------------------------------------------------------ Desoto Owners LLC and Desoto Holding LLC submitted a Third Amended Joint Plan and a corresponding Disclosure Statement on April 22, 2021. Romspen, the holder of the Class 3 claim, has elected to have its entire claim treated as a secured claim. The Romspen Allowed Secured Claim will be paid in full in three stages: First, Romspen will receive $250,000 on the Effective Date. When Desoto Owners closes on its Construction Loan, Romspen will relinquish its Lien on the Parcel A Property and receive substitute collateral exceeding the value of the Parcel A Property. Desoto Owners will either pay Romspen an additional Ten Million Dollars or auction off parcels of the Mall Property (other than Parcel A) until at least $10 million of net proceeds are available to pay Romspen. In the event parcels are auctioned the Net Proceeds of those parcels will be paid to Romspen. That will be the second payment. Finally, after the Parcel A Property development is completed and it is sold or refinanced, Romspen will receive the balance of payments due on its Allowed Secured Claim. Romspen shall receive (i) an amount of money such that the stream of payments until that final payment date is equal to the face amount of the Romspen Allowed Secured Claim or (ii) such greater amount which is equal to the Bankruptcy Court's determination of the value of Romspen's interest in the Debtors' Property. Hudson's, which is the Holder of the Class 4 Claims will have the option of a Cash payment of $100,000 to settle its bundle of asserted rights or else receive treatment as a Class 5 Holder of general Unsecured Claims. Alternatively, Hudson's may elect to purchase a clean "box" building of 50,000 square feet, with required parking and access, for the sum of $3,750,000.00 with the interior to be finished by Hudson's. Hudson's would be permitted to remain in its present location until 6 months after the Debtors turn over the completed "box" store. ATC Indoor DAS LLC, which is the holder of the Class 4A Claim, will have the option of a Cash payment of $10,000 to settle its lease rights or else receive treatment as a Class 5 Holder of general Unsecured Claims. Each Holder of a Class 5 Allowed General Unsecured Claim shall receive in full and final satisfaction, compromise, settlement, release, and discharge of each such Allowed Claim: its Pro Rata Share of (a) $600,000 payable on the Effective Date and (b) 40% the Namdar Litigation Net Proceeds, payable within 90 days of receipt of such proceeds until 100% of all Allowed General Unsecured Claims have been paid and (c) membership interests in the reorganized Desoto Owners LLC in an amount and on terms set forth in the Plan. In the event that Class 5 shall vote in favor of the Plan, the Holders of Claims held by Gladstone Investors LLC, Meyer Lebovits, Thornbread and Willowdale Star Holdings LLC shall waive any right to receive a distribution until all Allowed General Unsecured Claims have been paid in full. New membership interests in Desoto Owners will be issued in proportion to the dollar amount of new capital contributed to Desoto Owners. All new membership shares issued will be subject to Lien rights held by Romspen to the same extent Romspen had a Lien on the membership interests in Desoto Owners immediately prior to the commencement of these cases. The amount of the new capital and the percentage of membership interests shall be determined on the Confirmation Date. New capital shall be deemed contributed by (i) payment of funds necessary to fund the Plan (ii) contribution of assets necessary to make the Plan feasible or (iii) execution of a legally enforceable promise to pay monies or contribute assets necessary to fund the Plan supported by evidence, deemed sufficient in the reasonable business judgment of the Debtors, of liquidity and assets sufficient to enable the promise to be kept. To the extent any membership interests are issued on account of a promise to pay monies or contribute assets in the future and such monies are not paid or such assets not contributed prior to the final payment under the Plan, such membership interests shall be cancelled. The Plan requires Desoto Owners to provide Romspen with substitute collateral on the Construction Loan Closing Date having a value of no less than $8 million for the release of the Romspen Lien on Parcel A. Newco will contribute the Brooklyn Properties to Desoto Owners so that it can provide Romspen with the substitute collateral required under the Plan. For purposes of the recapitalization of Desoto Owners, Newco will be deemed to have made a capital contribution in the amount of the appraised value of those properties as may be determined by the Bankruptcy Court. In the event that a creditor is willing to contribute other substitute collateral which the Bankruptcy Court will determine is better than the Brooklyn Properties, that creditor's substitute collateral will be accepted in the amount determined by the Bankruptcy Court. Unsecured creditors will be deemed to have contributed new capital in an amount equal to the Allowed amount of their claims held by them as of the Confirmation Date. Their membership interests shall not carry voting rights and shall be subject to redemption at any time by Desoto Owners at a price equal to 50% of the Allowed amount of their Claims. The Desoto Owners Operating Agreement shall be revised. Meyer Lebovits shall act as Managing Member and can only be removed for cause. A full-text copy of the Third Amended Joint Plan dated April 22, 2021, is available at https://bit.ly/3sW05pK from PacerMonitor at no charge. Attorneys for the Debtors: NUTOVIC & ASSOCIATES Isaac Nutovic, Esq. 261 Madison Avenue, 26th Floor New York, New York 10036 Tel.: (212) 789-3100 About Desoto Owners Desoto Owners LLC is a Single Asset Real Estate (as defined in 11 U.S.C. Section 101(51B)), owning a real property commonly known as the Desoto Square Mall, which is located at 303 301 Blvd W., Bradenton, Fla. and is situated on a 58-acre parcel of land. Desoto Owners LLC filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y. Case No. 20 43387) on Sep. 22, 2020. The petition was signed by Moshe Fridman, chief executive officer. At the time of filing, the Debtor estimated $1 million to $10 million in assets and $10 million to $50 million in liabilities. Isaac Nutovic, Esq., at NUTOVIC & ASSOCIATES, represents the Debtor. DIAMOND OFFSHORE: Exits Chapter 11 Process, CEO Retires ------------------------------------------------------- Diamond Offshore Drilling, Inc., announced that, on April 23, 2021, it and its debtor affiliates emerged from their chapter 11 process after successfully completing a financial reorganization pursuant to their joint plan of reorganization. The restructuring significantly delevers the Company's balance sheet and provides substantial liquidity for the Company, resulting in the equitization of approximately $2.1 billion in senior unsecured note obligations and providing the Company with over $625 million of new available capital. In accordance with the joint plan of reorganization, a newly constituted Board of Directors of the Company was appointed, consisting of Raj Iyer (Chairman), Neal Goldman, John Hollowell, Ane Launy, Patrick "Carey" Lowe and Adam Peakes. Mr. Iyer commented, "I am extremely pleased to have such an experienced and uniquely qualified Board of Directors. They undoubtedly have the necessary financial and business expertise and industry knowledge to oversee Diamond's post-emergence strategy." Mr. Iyer continued, "I've had the opportunity to engage with the Company's stakeholders to review and evaluate the Company's assets, balance sheet and operational performance and have confidence that Diamond is well-positioned for the future. I'm looking forward to working with the Diamond team to help drive the Company's strategic plan and achieve sustainable, long-term success while continuing to focus on safe and reliable services for our global customers." In connection with its emergence from chapter 11, the Company also announced that Marc Edwards has retired as Chairman, President and Chief Executive Officer, effective immediately. Mr. Edwards joined the Company in March 2014 and has played a key role in transforming Diamond into a leader in offshore drilling, including leading the Company through its successful chapter 11 restructuring process. The Company is currently in discussions regarding appointment of an Executive Chairman and a Chief Executive Officer and expects to make announcements in the near future. Until a Chief Executive Officer is appointed, Ronald Woll, Executive Vice President and Chief Operating Officer, will serve as Interim CEO in addition to his current position. Mr. Edwards commented, "We commenced the chapter 11 process with the goal of strengthening our capital structure to position Diamond for long-term success and growth. I would like to thank our lenders and other stakeholders, our suppliers and customers and most of all our incredibly talented team of employees, for working together to consummate this restructuring plan to position Diamond for a strong and bright future." Mr. Iyer commented, "On behalf of the entire organization, I thank Marc for his many years of service and invaluable contributions to the company and the industry and especially the significant time and effort he has expended over the past year as the company successfully restructured. We appreciate the leadership and dedication he has exhibited during this time and wish him every success in the future." Mr. Iyer concluded, "We believe that our executive leadership team is well-positioned for future success, and I look forward to the next chapter in Diamond's history." Additional details of the Company's restructuring transactions can be found in the Company's prior filings with the Securities and Exchange Commission ("SEC"), and in a Current Report on Form 8-K to be filed with the SEC. These documents can be obtained for free by visiting EDGAR on the SEC website at www.sec.gov. About Diamond Offshore Drilling Inc. Diamond Offshore Drilling, Inc., provides contract drilling services to the energy industry worldwide. The company operates a fleet of 15 offshore drilling rigs, including 4 drillships and 11 semi-submersible rigs. It serves independent oil and gas companies, and government-owned oil companies. The company was founded in 1953 and is headquartered in Houston, Texas. Diamond Offshore Drilling is a subsidiary of Loews Corporation. The company has major offices in Australia, Brazil, Mexico, Scotland, Singapore, and Norway. Diamond Offshore Drilling, Inc., along with its affiliates, filed a voluntary petition for reorganization under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 20-32307) on April 26, 2020. The petitions were signed by David L. Roland, senior vice president, general counsel, and secretary. As of Dec. 31, 2019, the Debtors disclosed $5,834,044,000 in total assets and $2,601,834,000 in total liabilities. The case is assigned to Judge David R. Jones. Paul, Weiss, Rifkind, Wharton & Garrison LLP and Porter Hedges LLP are acting as the Company's legal counsel and Alvarez & Marsal is serving as the Company's restructuring advisor. Lazard Freres & Co. LLC is serving as financial advisor to the Company. Prime Clerk LLC is the claims and noticing agent. DORCHESTER RESOURCES: Sets Bidding Procedures for All Assets ------------------------------------------------------------ Dorchester Resources, LP, filed with the U.S. Bankruptcy Court for the Western District of Oklahoma its second amended request to authorize the bidding procedures in connection with the sale of assets to DRII, LLC, for the base purchase price of $10 million, plus the assumption of certain agreements of the Debtor which amount to over $800,000, subject to certain adjustments and carve-outs upon Court approval of the transaction, subject to overbid. Objections, if any, must be filed no later than 14 days from the date of filing of the Motion. The Debtor's business has declined due to long term pricing declines, as well as the depression of energy prices during the past 12 months, in part as a result of the COVID-l9 pandemic and the related quarantines, travel restrictions, and reduced manufacturing outputs. Therefore, the Debtor cannot continue in its business or rehabilitate its operations. The only way for Debtor to realize any value for its assets is to sell the assets identified on the Asset Purchase Agreement. Prior to filing bankruptcy, the Debtor entered into the Purchase Agreement with the Stalking Horse Purchaser, together with its successors and assigns, under which Stalking Horse Purchaser will acquire the Designated Assets for the base purchase price of $10 million, plus the assumption of certain agreements of the Debtor which amount to over $800,000, subject to certain adjustments and carve-outs upon Court approval of the transaction. In addition to the Motion, the Debtor has filed, or will shortly file, a Motion for an Order (A) Approving the Sale of the Assets Free and Clear of All Liens, Claims, Encumbrances, and Interests to the Winning Bidders; and (B) Authorizing the Assumption and Assignment of Certain Executory Contracts and Unexpired Leases of the Debtor and Notice of Opportunity for Hearing ("Sale Motion"). The procedures governing the Sale will be governed by the Bidding Procedures Order sought by the Bidding Procedures Motion, establishing certain stalking horse bidding and sale procedures for the proposed Sale of the Designated Assets. The Purchase Agreement provides for the sale and transfer of the Designated Assets free and clear of all liens, claims, encumbrances and other interests. The Designated Assets do not include cash, accounts, avoidance actions or other claims and causes of action belonging to the Debtor's estate. The Bidding Procedures Motion asks approval of the form of the Purchase Agreement; however, the request for authority to consummate the Sale is requested pursuant to the Sale Motion. The salient terms of the Bidding Procedures are: a. Bid Deadline: June 15, 2021, at 4:00 p.m. (CT) b. Initial Bid: $10.25 million c. Deposit: $1.25 million d. Auction: The Auction will take place, in compliance with the Bidding Procedures, on June 18, 2021, at 10:00 a.m. (CT) at the offices of the Auctioneer or the Debtor's counsel, or such other place and time as the Debtor will notify all Qualified Bidders. e. Bid Increments: $100,000 f. Sale Hearing: June 24, 2021 at 9:30 a.m. (CST) g. Sale Objection Deadline: June 24, 2021 at 4:00 a.m. (CT) h Breakup Fee: $200,000 i. Expense Reimbursement: $50,000 Five business days after entry of the Bidding Procedures Order, the Debtor will cause the Sale Notice upon all the Sale Notice Parties. Regarding the Bidding Procedures Motion, the Debtor asks approval of the form of the Purchase Agreement because the form of the agreement should be approved prior to the bidding process. It submits the form and content of the Purchase Agreement is reasonable and customary considering the facts and circumstances in the case. Therefore, the Debtor asks the Bidding Procedures Order approves the form and content of the Purchase Agreement. Finally, the Debtor asks the Court to order that the stays provided for in Bankruptcy Rules 6004(h) and 6006(d) are waived and the Bidding Procedures Order will be effective immediately upon its entry. A copy of the Bidding Procedures is available at https://tinyurl.com/j6stff9a from PacerMonitor.com free of charge. About Dorchester Resources Dorchester Resources, LP filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Okla. Case No. 21-10840) on April 5, 2021. At the time of the filing, the Debtor had between $10 million and $50 million in both assets and liabilities. Judge Sarah A. Hall oversees the case. The Debtor tapped Christensen Law Group, PLLC as counsel and Dakil Auctioneers, Inc. as marketing and sales agent. Omni Agent Solutions is the claims and administrative agent. DSECARGONET INC: Hits Chapter 7 Bankruptcy ------------------------------------------ Clarissa Hawes of Investigations and Enterprise reports that a California freight forwarder filed Chapter 7 bankruptcy fourth week of April 2021, collectively owing transportation and logistics companies more than $884,000. In its filing, Dsecargonet, which offered air, sea and ground delivery solutions, lists its assets of up to $50,000 and its liabilities as between $500,000 and $1 million. The freight forwarder states that it has up to 49 creditors and that no funds will be available for unsecured creditors once it pays administrative fees. It lists Myung Ki Chai as CEO. Dsecargonet lists two government agencies as having priority unsecured claims for back payroll taxes, including the California Employment Development Department, owed nearly $52,400, and the IRS, owed nearly $44,000. Among the freight forwarder’s top 20 unsecured creditors are BG Trucking of Calexico, California, owed more than $92,000; Sun City Group of El Paso, Texas, owed $91,150; and FedEx Customs of Memphis, Tennessee, owed nearly $75,000. FreightWaves reached out to Dsecargonet Inc. for a comment about the closure, but neither the phone number nor the company’s website was working. A creditors meeting is scheduled for June 3, 2021. About Descargonet Inc. Dsecargonet, which formerly doing business as Global Partners Logistics USA Inc., is a Torrance, California-based freight forwarder that offers air, sea and ground delivery solutions services. Dsecargonet Inc. filed a Chapter 7 petition (Bankr. C.D. Cal. Case No. 21-11020) on April 20, 2021. In its petition, it listed assets of up to $50,000 and its liabilities as between $500,000 and $1 million. Yi & Madrosen, led by Michael H Yi, is the Debtor's counsel. EARTWORX & SALES: Seeks Cash Collateral Access Thru September 1 --------------------------------------------------------------- Earthworx & Sales, LLC sought authority from the U.S. Bankruptcy Court for the Western District of Pennsylvania to use cash collateral through the earlier of (i) September 1, 2021 or (ii) the date set by the Court for a final hearing of the use of cash collateral, or (iii) the date the Debtor receives a written notice of an event of default. The Debtor will use the cash collateral to continue its day-to-day business operations. Prior to the bankruptcy, Commercial Credit Group, Inc. loaned money to the Debtor under five different loans. As of the Petition Date, the Debtor owes CCG approximately $200,000 in the aggregate under the loans, exclusive of attorneys' fees and costs. CCG asserts perfect liens on certain vehicles and pieces of the Debtor's equipment. The Debtor acknowledged that, as of March 2021, the balance under the loan documents is $217,359.26, together with interest at six percent per annum, plus late charges fees and costs, including attorneys' fees. As consideration for the use of cash collateral, the Debtor proposed to: * grant CCG an allowed fully secured claim in the agreed amount of indebtedness relating to the loans, * grant CCG a replacement lien on and a security interest in all post-petition property of the Debtor, of the same type CCG held pre-petition with first-position senior priority, * make interim adequate protection payments to CCG for $3,867 beginning on or before May 15, 2021 and continuing each successive month thereafter, * deliver to CCG the proceeds from the sale of any pre-petition collateral or post-petition collateral or any insurance proceeds arising from a casualty or other insured loss of pre-petition or post-petition collateral to pay the balance due under the loan documents. A copy of the motion is available for free at https://bit.ly/3nkdE14 from PacerMonitor.com. About Earthworx & Sales Earthworx & Sales, LLC filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Pa. Case No. 21-20534) on March 11, 2021. At the time of the filing, the Debtor estimated $500,001 to $1 million in assets and $100,001 to $500,000 in liabilities. The Debtor tapped Calaiaro Valencik as its legal counsel and Wilson Accounting Group as its accountant. ENKOGS1 LLC: Court Authorizes Use of Cash Collateral ---------------------------------------------------- The U.S. Bankruptcy Court for the Middle District of Florida authorized ENKOGS1, LLC to use cash collateral on an interim basis through April 28, 2021, to pay for expenses based on a Court-approved budget. On April 28, the Debtor filed with the Court an Amended Cash Collateral Budget and Budgeted to Actual Reports. As adequate protection for the use of cash collateral, State Bank of Texas will be granted a perfected post-petition lien against collateral to the same extent and with the same validity and priority as the pre-petition lien, without the need to file or execute any document. The Court ruled that beginning March 1, 2021 and continuing every first day of the succeeding month thereafter, the Debtor will pay $1,000 monthly to its attorney's trust account, which account will be used to pay against the Subchapter V Trustee's administrative claim. The trust account will be held in trust by the Debtor's counsel until further Court order. A copy of the order is available for free at https://bit.ly/3xtLEwE from PacerMonitor.com. About ENKOGS1, LLC ENKOGS1, LLC is a Texas limited liability company, formed on July 31, 2018, which owns and operates a 79-room hotel in Fulton (Rockport), Texas under the flag of Econo Lodge Inn & Suites. ENKOGS1 filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 6:21-bk-00276) on January 22, 2021. In the petition signed by Marco Kozlowski, managing member, the Debtor disclosed between $1 million to $10 million in both assets and liabilities. Judge Karen S. Jennemann oversees the case. The Debtor is represented by BARTOLONE LAW, PLLC as counsel. EP ENERGY: Fights Back Leaseholders' Lawsuit Move ------------------------------------------------- Law360 reports that oil and gas producer EP Energy has asked a Texas bankruptcy judge to prohibit a group of Eagle Ford Shale mineral leaseholders from pursuing "futile" trespass claims against it for stopping production on their leases for about a month in response to collapsing oil prices during 2020. In a brief filed Friday, April 23, 2021, Houston-based EP Energy E&P Co. LP urged U. S. Bankruptcy Judge Marvin Isgur to deny a threshold motion filed by a group of leaseholders, led by Maltsberger/Storey Ranch LLC, seeking permission to sue the oil and gas producer in Texas state court. About EP Energy Corporation EP Energy Corporation and its direct and indirect subsidiaries(OTC Pink: EPEG) -- http://www.epenergy.com/-- are a North American oil and natural gas exploration and production company headquartered in Houston, Texas. The Debtors operate through a diverse base of producing assets and are focused on the development of drilling inventory located in three areas: the Eagle Ford shale in South Texas, the Permian Basin in West Texas, and Northeastern Utah. EP Energy Corporation and its subsidiaries sought Chapter 11 protection on Oct. 3, 2019, after reaching a deal with Elliott Management Corporation, Apollo Global Management, LLC, and certain other noteholders on a bankruptcy exit plan that would reduce debt by 3.3 billion. The lead case is In re EP Energy Corporation (Bankr. S.D. Tex. Lead Case No. 19-35654). EP Energy was estimated to have $1 billion to $10 billion in assets and liabilities as of the bankruptcy filing. Judge Marvin Isgur oversees the case. The Debtors tapped Weil, Gotshal & Manges LLP as legal counsel; Evercore Group L.L.C. as investment banker; and FTI Consulting, Inc. as financial advisor. Prime Clerk LLC is the claims agent. On Jan. 13, 2020, Judge Marvin Isgur entered findings of fact, conclusions of law, and an order confirming the Fourth Amended Joint Chapter 11 Plan of EP Energy Corporation and its Affiliated Debtors. EVEN STEVENS: BS Property Objects to Bid Procedures for $3M Equity ------------------------------------------------------------------ BS Property, LLC, a creditor and party-in-interest of Even Stevens, Utah, LLC, asks the U.S. Bankruptcy Court for the District of Arizona to deny the Debtor's bidding procedures in connection with the sale of 92% of equity in the Debtors to ES Management, LLC, for $3,016,670, subject to overbid. BS Property joins in and supports the United States Trustee's Objection to the Debtors' Bidding Procedure Motion filed on April 5, 2021. In addition to the objections set forth in the Trustee's Objection, the Bidding Procedure Motion should be denied because it: (i) deems ES Management, LLC the stalking horse bidder even though neither it nor the Debtor have disclosed the financial information necessary to provide BS Property with adequate assurance of ES Management's future performance, despite several orders from the Court requiring the Debtor to do so; and (ii) does not require other bidders to submit financial information to BS Property in advance of the sale. In particular, the Debtor's Bidding Procedure Motion and proposed order provide that the stalking horse bidder will be ES Management, and that any parties seeking to make a higher and better offer than the ES Management offer must submit, among other things, "financial statements and tax returns for the last two years." However, neither ES Management, its corporate owners Blue Lemon and Take 2, LLC, nor their individual owners, have satisfied this requirement. As the Court knows, the Debtor's failure to provide basic financial information for its proposed stalking horse bidder has been an ongoing problem in the case, and the Bidding Procedure Motion should not be approved before it is resolved. Thus, the Bidding Procedure Motion should not be approved unless the order requires ES Management (and any parties that are ultimately financially responsible for ES Management, such as Blue Lemon, Take 2, and its individual owners) to provide, at minimum, the same financial information required of other bidders. In addition to the specific problems surrounding ES Management's bid, the Bidding Procedure Motion merely requires putative bidders to submit the financial information to the Debtor and Trustee, but not to any of the landlords, such as BS Property, whose leases would be assigned to the winning bidder as a consequence of the sale. As the Court has previously observed, prior disclosure of the bidder's financial information is necessary for BS Property to determine whether it has adequate assurance of future performance. Thus, the Bidding Procedure Motion should not be approved unless the order requires bidders to submit their bids to BS Property at the same time as the Debtor and Trustee, or at least to require the Debtor and/or Trustee to promptly provide BS Property with full copies of any bids immediately upon receipt. About Even Stevens Sandwiches Even Stevens Sandwiches, LLC, opened its first restaurant in downtown Salt Lake City, Utah, in June 2014. It has eight operating locations: seven in Utah and one in Idaho. Even Stevens Sandwiches and its affiliates each filed voluntary Chapter 11 petitions (Bankr. D. Ariz. Lead Case No. 19-03236) on March 21, 2019. At the time of the filing, the Debtor was estimated to have $1 million to $10 million in both assets and liabilities. Pernell W. McGuire, Esq., at Davis Miles Mcguire Gardner, PLLC, is the Debtor's legal counsel. FARR BUILDERS: Seeks Approval to Hire Liz Petroff as Realtor ------------------------------------------------------------ Farr Builders, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Texas to employ Liz Petroff, a realtor based in San Antonio, Texas. The Debtor requires a realtor to market and sell its real properties in San Antonio. Ms. Petroff will be paid a commission of 3 percent of the sales price of each property. In court papers, Ms. Petroff disclosed that she is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. Ms. Petroff can be reached at: Liz Petroff 8620 N New Braunfels Ave Suite 620 San Antonio, TX 78217 Tel: (210) 920-0408 About Farr Builders Farr Builders LLC, a San Antonio, Texas-based private company that performs government contracts, sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Texas Case No. 21-50179) on Feb. 22, 2021. In the petition signed by Adrian Garcia, president, the Debtor disclosed $1,000,373 in assets and $2,315,869 in liabilities. Judge Ronald B. King oversees the case. Heidi McLeod, Esq., at Heidi McLeod Law Office, PLLC, represents the Debtor as legal counsel. FIBERCORR MILLS: May Use Cash Collateral Thru May15 --------------------------------------------------- Judge Russ Kendig extended the authority of FiberCorr Mills, LLC and affiliated debtors to use cash collateral through and including May 15, 2021. A copy of the order is available at https://bit.ly/3dFbtSE from PacerMonitor.com at no charge. About Fibercorr Mills, LLC FiberCorr Mills, LLC and its affiliates filed Chapter 11 petitions (Bankr. N.D. Ohio Lead Case No. 20-61029) on June 17, 2020. At the time of filing, FiberCorr Mills had estimated assets of between $1 million and $10 million and liabilities of between $1 million and $10 million. FiberCorr Mills -- http://www.fibercorr.com-- is a Massillon, Ohio-based manufacturer of corrugated cardboard products. The Shew family bought the FiberCorr business from Georgia-Pacific in February 2000. Cherry Springs of Massillon II is the owner of real property consisting of FiberCorr's business premises. Shew Industries, LLC is the parent company of the other debtors. Judge Russ Kendig oversees the case. The Debtors tapped Anthony J. Degirolamo Attorney at Law as their bankruptcy counsel; and The Phillips Organization as their financial advisor. The U.S. Trustee for Region 9 appointed a committee to represent unsecured creditors in Debtors' Chapter 11 cases. The committee is represented by: Richard S. Lauter, Esq. LEWIS BRISBOIS BISGAARD & SMITH LLP 550 West Adams Street, Suite 300 Chicago, IL 60661 Telephone: 312-463-3437 Email: richard.lauter@lewisbrisbois.com Premier Bank f/k/a First Federal Bank of the Midwest is represented by: Melody A. Dugic, Esq. HENDERSON, COVINGTON, MESSENGER, NEWMAN & THOMAS CO. LPA 6 Federal Plaza Central, Suite 1300 Youngstown, OH 44503 Telephone: 330-744-1148 Email: mdugic@hendersoncovington.com FOOD OPERA: Seeks to Hire Barry R. Levine as Legal Counsel ---------------------------------------------------------- Food Opera, Inc. seeks approval from the U.S. Bankruptcy Court for the District of Massachusetts to employ the Law Offices of Barry R. Levine to handle its Chapter 11 case. Barry Levine, Esq., the firm's attorney who will be providing the services, will be paid at the rate of $400 per hour. The attorney received a retainer fee in the amount of $5,000. Mr. Levine disclosed in a court filing that his firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Barry R. Levine, Esq. Law Offices Of Barry R. Levine 100 Cummings Center - Suite 327G Beverly, MA 01915-6123 Tel: (978) 922-8440 Fax: (978) 998-4636 Email: barry@levinelawoffice.com About Food Opera Inc. Food Opera Inc. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Mass. Case No. 21-10485) on April 7, 2021. Albert Leung, president, signed the petition. In its petition, the Debtor disclosed assets of between $1 million and $10 million and liabilities of between $500,000 and $1 million. Judge Janet E. Bostwick oversees the case. The Law Offices Of Barry R. Levine, is the Debtor's legal counsel. FORD STEEL: May Use Cash Collateral Until June 22 ------------------------------------------------- Judge Eduardo V. Rodriguez authorized Ford Steel, LLC to use cash collateral until June 22, 2021, at 5:00 p.m. (prevailing Central Time), unless otherwise extended or terminated by further Court order. The Debtor will use the cash collateral to maintain its assets, sell or otherwise liquidate the assets, provide financial information, pay necessary employees, payroll taxes, charges of vendors, overhead, and other expenses necessary to maintain the assets' value. First Financial Bank, Inc., f/k/a Bank & Trust of Bryan/College Station (FFIN), the Internal Revenue Service, and the Small Business Administration have interest in the cash collateral on account of their pre-petition claims. As of the Petition Date, FFIN asserts a claim against the Debtor for approximately $475,764 in unpaid principal, plus fees, costs, expenses and charges under the loan documents, which are secured by perfected first priority liens and security interests in substantially all of the Debtor's assets. The Internal Revenue Service has filed notices of federal tax liens for its claim against the Debtor to secure part of the IRS claims. The notices of federal tax liens perfected a valid lien in favor of the IRS and encumbering all assets of the Debtor. The SBA filed a UCC-1 financing statement giving it a lien on the assets, including against the pre-petition collateral. FFIN, the IRS, and the SBA are granted valid and automatically perfected replacement liens and security interests in all of the assets of the Debtor and its estate, in the same extent, validity, and priority as existed on the Petition Date, subordinate only to prior liens, if any, to the extent of any decrease in the value of the secured creditors' interest in the pre-petition collateral and cash collateral. A copy of the order is available for free at https://bit.ly/3sJHkpD from PacerMonitor.com. Hearing on the continued use of cash collateral will be held on June 21, 2021 at 2:30 p.m., by telephone and video conference. About Ford Steel, LLC Ford Steel, LLC -- http://www.fordsteelllc.com/-- is in the business of steel product manufacturing from purchased steel. It fabricates for a wide variety of industries including the petrochemical industry, waste water treatment, transmission communication and broadcast towers, mining, and oil and gas industries. Ford Steel filed a voluntary petition under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Case No. 20-34405) on Sept. 1, 2020. Herbert C. Jeffries, managing member, signed the petition. The Debtor was estimated to have $1 million to $10 million in both assets and liabilities at the time of the filing. Judge Eduardo V. Rodriguez oversees the case. Muskat Mahony & Devine, LLP, and Currin Wuest Mielke Paul & Knapp, PLLC, is the Debtor's special counsel. Cooper & Scully, PC, serves as the Debtor's legal counsel. First Financial Bank, Inc., f/k/a Bank & Trust of Bryan/College Station, as lender, is represented by: Baili Rhodes, Esq. West, Webb, Allbritton & Gentry, PC. 15 Emerald Plaza College Station, TX 777845 E-mail: Baili.Rhodes@westwebblaw.com FRICTIONLESS WORLD: Amends Plan; Banjo Files Indemnification Motion ------------------------------------------------------------------- The Official Committee of Unsecured Creditors appointed in Frictionless World LLC's case and the Arbitration Creditors, as co-proponents, filed a Second Amended Chapter 11 Plan of Liquidation and a corresponding Disclosure Statement for Frictionless World on April 22, 2021. On April 13, 2021, Mr. Daniel Banjo filed his Motion for Advancement of Funds and Indemnification as Administrative Expenses (the "Indemnification Motion"). The Plan Proponents expect that one or more objections will be filed to Mr. Banjo's Indemnification Motion and believe that defenses exist to his claims, though there can be no assurances that any such defenses would be successful. A claim scheduled by the Debtor in favor of Mr. Banjo in the amount of $520,000 for unpaid pre-petition rent of the Debtor's Boulder, Colorado facility was disallowed in its entirety by Bankruptcy Court Order dated June 10, 2020. Mr. Banjo has filed a Rejection Claim, namely Claim 18 in the amount of $159,999.96, arising out of the deemed rejection of the Debtor's lease of the real property located at 2807 Jay Road, Boulder, Colorado. On January 14, 2021, Mr. Banjo filed a Motion for Approval of Administrative Expense Claims, in which he sought the Bankruptcy Court's approval of his first-priority administrative claim in the amount of $53,733.85. The Plan Proponents believe that defenses exist to the allowance of any Rejection Claim by Mr. Banjo and the Banjo Administrative Claim, though there can be no assurances that any such defenses would be successful. Mr. Banjo, or any other party as designated in The Operating Declaration of the Sole Member of Frictionless World, LLC a Colorado Limited Liability Company, dated December 1, 2012 (Operating Agreement), may assert an indemnity claim against the Estate which he alleges may arise out of the provisions of that document. To the extent that Mr. Banjo, or any other person, brings such a claim, it shall be subject to all defenses and objections of the Estate and other parties in interest, procedural, substantive and otherwise. To the extent the estate has claims against such parties, such Allowed Claim could affect the funds available for distribution to other creditors holding Allowed Claims against the Estate, as well as the timing of distribution to other creditors holding Allowed Claims pending the liquidation of such indemnity claims. The Arbitration Creditors shall have no right to object to any relief pursued by Banjo, but may raise with the Committee or Trustee any issues the Arbitration Creditors may have with claims other than those filed or held by Banjo. This Plan shall in no way contradict the terms of the settlement agreement between Banjo and the Arbitration Creditors set forth on the record in the Bankruptcy Case on January 21, 2021, and memorialized in a written settlement agreement between Banjo and the Arbitration Creditors, dated January 27, 2021. For the avoidance of doubt, nothing in this Plan precludes Banjo from pursuing his administrative claims or general unsecured claims. Likewise, nothing in this Plan precludes Banjo from asserting his alleged rights pursuant to the indemnification provisions or advancement of funds provisions in the Debtor's Operating Declaration and relevant case law. Like in the prior iteration of the Plan, Allowed General Unsecured Claims in Class 3 includes both the Arbitration Creditor Claims and the Trade Creditor Claims. * Each holder of an Allowed Arbitration Creditor Claim shall receive its Pro Rata Share of the Arbitration Creditor Distributable Assets and the Beneficial Interest in the Liquidating Trust in accordance with the Liquidating Trust Agreement. * Each holder of an Allowed Trade Creditor Claim, including any Trade Creditor Claim which becomes an Allowed General Unsecured Claim thereafter, shall receive its Pro Rata Share of the Trade Creditor Distributable Assets and the Beneficial Interest in the Liquidating Trust in accordance with the Liquidating Trust Agreement. A full-text copy of the Supplement to the Second Amended Liquidating Plan dated April 22, 2021, is available at https://bit.ly/3tX4UAJ from PacerMonitor.com at no charge. Counsel for the Official Committee of Unsecured Creditors: ARCHER & GREINER, P.C. Three Logan Square 1717 Arch Street, Suite 3500 Philadelphia, PA 19103 Telephone: (215) 963-3300 - and - HOLLAND & HART LLP 555 17th Street, Suite 3200 Denver, CO 80202 Telephone: (303) 295-8000 Counsel for Frictionless, LLC, Changzhou Zhong Lian Investment Co., Ltd., and Changzhou Inter Universal Machine & Equipment Co., Ltd.: SHERMAN & HOWARD L.L.C. 633 Seventeenth Street, Suite 3000 Denver, CO 80202 Telephone: (303) 297-2900 - and - K&L GATES LLP Brian D. Koosed 1601 K Street, NW Washington, D.C. 20006 Telephone: (202) 778-9200 E-mail: brian.koosed@lkgates.com About Frictionless World Frictionless World, LLC -- https://www.frictionlessworld.com/ -- provides professional-grade outdoor power equipment, replacement parts for tractors, hitches and agricultural implements, gate and fence equipment, lithium ion powered tools, and ice fishing equipment. It offers brands such as Dirty Hand Tools, RanchEx, Redback, Trophy Strike and Vinsetta Tools. Frictionless World sought Chapter 11 protection (Banks. D. Col. Case No. 19-18459) on Sept. 30, 2019. The Hon. Michael E. Romero is the case judge. In the petition signed by CEO Daniel Banjo, the Debtor disclosed total assets of $14,600,503 and total liabilities of $17,364,542. The Debtor tapped Wadsworth Garber Warner Conrardy P.C. as bankruptcy counsel; Thomas P. Howard, LLC as special counsel; r2 Advisors, LLC as financial advisor; and Three Twenty-One Capital Partners, LLC, as investment banker. The Office of the U.S. Trustee appointed creditors to serve on the official committee of unsecured creditors on Nov. 20, 2019. JW Infinity Consulting LLC is the financial advisor to the Committee. Tom Connolly was appointed as Chapter 11 trustee effective as of October 1, 2020. The Trustee is represented by Faegre Drinker Biddle & Reath, LLP. G A V REST: Seeks to Hire Morrison Tenenbaum as Legal Counsel ------------------------------------------------------------- G A V Rest Corp. seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to employ Morrison Tenenbaum, PLLC as its legal counsel. The firm's services include: a. advising the Debtor with respect to its powers and duties in the management of its bankruptcy estate; b. assisting in any amendments of the Debtor's bankruptcy schedules and other financial disclosures and in the preparation, review or amendment of the Debtor's disclosure statement and plan of reorganization; c. negotiating with creditors and taking the necessary legal steps to confirm and consummate a plan of reorganization; d. preparing legal papers to be filed by the Debtor in its Chapter 11 case; e. pursuing preference and fraudulent transfer actions; f. appearing before the bankruptcy court; and g. performing all other legal services for the Debtor that may be necessary and proper for an effective reorganization. Morrison Tenenbaum will be paid at these rates: Attorneys $525 per hour Associates $380 per hour Paraprofessionals $175 per hour The firm will also be reimbursed for out-of-pocket expenses incurred. The retainer fee is $8,500. Lawrence Morrison, Esq., a partner at Morrison Tenenbaum, disclosed in a court filing that his firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Lawrence F. Morrison, Esq. Brian J. Hufnagel, Esq. Morrison Tenenbaum PLLC 87 Walker Street, Floor 2 New York, NY 10013 Tel: (212) 620-0938 Email: lmorrison@m-t-law.com bjhufnagel@m-t-law.com About G A V Rest Corp. G A V Rest. Corp. is a New York-based company that conducts business under the name Good Eats. G A V Rest. filed a Chapter 11 bankruptcy petition (Bankr. E.D.N.Y. Case No. 21-40617) on March 10, 2021, disclosing under $1 million in both assets and liabilities. The Debtor is represented by Morrison Tenenbaum, PLLC. GBT TECHNOLOGIES: Lowers Net Loss to $18 Million in 2020 -------------------------------------------------------- GBT Technologies, Inc. filed with the Securities and Exchange Commission its Annual Report on Form 10-K disclosing a net loss of $17.99 million on $180,000 of sales for the year ended Dec. 31, 2020, compared to a net loss of $186.51 million on $180,000 of sales for the year ended Dec. 31, 2019. As of Dec. 31, 2020, the Company had $1.16 million in total assets, $29.02 million in total liabilities, and a total stockholders' deficit of $27.86 million. Lakewood, CO-based BF Borgers CPA PC, the Company's auditor since 2017, issued a "going concern" qualification in its report dated March 31, 2021, citing that the Company's significant operating losses raise substantial doubt about its ability to continue as a going concern. A full-text copy of the Form 10-K is available for free at: https://www.sec.gov/Archives/edgar/data/1471781/000173112221000484/e2555_10k.htm#a002_v1 About GBT Headquartered in Santa Monica, CA, GBT Technologies, Inc. is targeting growing markets such as development of Internet of Things (IoT) and Artificial Intelligence (AI) enabled networking and tracking technologies, including wireless mesh network technology platform and fixed solutions, development of an intelligent human body vitals device, asset-tracking IoT, and wireless mesh networks. The Company derived revenues from the provision of IT services. The Company is seeking to generate revenue from the licensing of its technology. GEORGE WASHINGTON: Tutor Perini Intends to Opt-Out Plan's Releases ------------------------------------------------------------------ Tutor Perini Building Corp. objects to the Disclosure Statement for the First Amended Chapter 11 Plan of George Washington Bridge Bus Station Development Venture LLC. Tutor Perini points out that it does not consent to the releases set forth in the First Amended Plan. Tutor Perini intends to "opt out" of the First Amended Plan's releases in the event that Tutor Perini is served with a ballot for the general unsecured creditor class. The Debtor should take this Objection as notice that Tutor Perini does not consent to the releases set forth in the First Amended Plan. Tutor Perini is currently engaged in active litigation in other forums against certain of the Released Parties under the First Amended Plan. In order to provide adequate information to creditors and other parties in interest, Tutor Perini respectfully requests that the Court order that the Debtor must amend the Disclosure Statement to reflect the fact that none of Tutor Perini's claims against the Released Parties will be released under the First Amended Plan. In addition, the Debtor's proposed transaction—namely, the sale of substantially all of the Debtor's assets to the Purchaser—embodied in the First Amended Plan and Disclosure Statement does not make any allowance for the payment of Tutor Perini's cure claim in connection with the assumption and assignment of the Ground Lease. Whether Tutor Perini holds a cure claim under the Ground Lease or as a third-party beneficiary is currently on appeal before Judge Rakoff. The issues have been fully briefed and argued, and the parties are awaiting Judge Rakoff's decision. Tutor Perini understands and acknowledges the statements made on the record on April 13, 2021 by counsel for the Debtor and counsel for the Purchaser in connection with the Court's consideration of the Debtor's Supplemental Motion for an Order (I) Approving Stalking Horse Bidder, (II) Authorizing Bid Protections, and (III) Granting Related Relief regarding the fact that the Sale Transaction will not close in the event that Tutor Perini's position is ultimately successful on appeal. Accordingly, Tutor Perini raises the issue simply to reserve its rights with respect to the same pending the outcome of the disputed ground lease issues appeal. A full-text copy of Tutor Perini's objection dated April 22, 2021, is available at https://bit.ly/3gIKzew from PacerMonitor.com at no charge. Counsel for Tutor Perini: HUGHES HUBBARD & REED LLP Kathryn A. Coleman One Battery Park Plaza New York, NY 10004 Telephone: (212) 837-6000 E-Mail: katie.coleman@hugheshubbard.com NIDA & ROMYN, P.C. Robert Nida 1900 Avenue of the Stars, Suite 650 Los Angeles, CA 90067 Telephone: (310) 286-3400 E-Mail: rnida@nidaromyn.com BUCHALTER, P.C. Jeffrey K. Garfinkle 18400 Von Karman Avenue, Suite 800 Irvine, CA 92612-0514 Telephone: (949) 760-1121 E-Mail: jgarfinkle@buchalter.com About George Washington Bridge Bus Station Development Venture LLC George Washington Bridge Bus Station Development Venture LLC is the entity contracted to renovate the George Washington Bridge Bus Station in New York. The bus station was reopened in 2016 following a delayed and costly renovation. As part of the deal, the company was granted a 99-year lease to operate and maintain the retail portion of the bus station. George Washington Bridge Bus Station Development Venture LLC sought Chapter 11 protection (Bankr. S.D.N.Y. Case No. 19-13196) on Oct. 7, 2019. The company's assets are estimated between $50 million and $100 million, and liabilities between $100 million and $500 million, according to bankruptcy documents. The Hon. Shelley C. Chapman is the case judge. Cole Schotz P.C. is the Debtor's counsel. BAK Advisors Inc., is the Debtor's financial advisor, and BAK's Bernard A. Katz is presently serving as the Debtor's sole manager. GREATER HOUSTON POOL: Hearing Today on Continued Cash Access ------------------------------------------------------------ Judge Eduardo V. Rodriguez authorized Greater Houston Pool Management, Inc., to continue using cash collateral in the ordinary course of business, on an interim basis, until April 28, 2021. Judge Rodriguez ruled that holders of allowed secured claims with a security interest in the cash collateral are entitled to a replacement lien in post-petition accounts receivable, contract rights, and deposit accounts, to the same extent and in the same priority as those interests appeared on the Petition Date, provided that allowed professional fees shall be payable from the proceeds of cash collateral, free and clear of the rights of the secured creditors to the extent allowed by final non-appealable Court order, and only to the extent that the allowed fees exceed any amount of cash held by the Debtor which is not the subject of a valid, perfected and enforceable cash collateral security interest. The Court said the order "shall remain in effect until April 28, 2021 and may be renewed thereafter upon further order of the Court only." The Debtor was directed to revise its proposed budget to reflect projected monthly revenues. A further hearing on the matter is set for April 28 at 11:30 a.m.. A copy of the order is available free of charge at https://bit.ly/3xjmKQg from PacerMonitor.com. About Greater Houston Pool Management Greater Houston Pool Management, Inc. filed it voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Case No. 21-31047) on March 21. 2021. Daniel McInnis, president, signed the petition. At the time of the filing, the Debtor disclosed $878,683 in total asset and $3,026,960 in total liabilities. Judge Eduardo V. Rodriguez oversees the case. Attorney Donald Wyatt, PC serves as the Debtor's legal counsel. GRIDDY INC: Must Explain Plan Releases, Says ERCOT -------------------------------------------------- Law360 reports that Texas' primary electrical grid operator has asked a Texas bankruptcy judge to reject electric retailer Griddy Inc.'s Chapter 11 plan disclosure, saying it contains too little information about the claims it would release against Griddy's lenders and affiliates. In a motion filed Friday, April 23, 2021, the Electric Reliability Council of Texas said the disclosure statement fails to sufficiently explain the claims -- including those that ERCOT said represent nearly $15 million in potentially avoidable transfers -- and proposes a plan timeline that's too short for creditors to properly investigate the claims. Houston-based Griddy filed for bankruptcy on March 15, 2021. About Griddy Energy California startup Griddy Energy is an American power retailer that formerly sold energy to people in the state of Texas at wholesale prices for a $9.99 monthly membership fee and had approximately 29,000 members. Griddy was a feature of Texas' unusual, deregulated system for electric power. The vast majority of Texans -- and Americans -- pay a fixed rate for electric power and get predictable monthly bills. However, Griddy works by connecting customers to the wholesale market for electricity, which can change by the minute and is more volatile, for a monthly fee of $9.99. During February 2021's winter storm in Texas, power generators failed and demand for heating shot up. In response, ERCOT raised the price of electricity to the legal limit of $9 per kilowatt-hour and kept it there for several days. Griddy customers who didn't lose power were hit with massive electric bills that were auto-debited from their bank accounts. State grid operator ERCOT at the end of February 2020 cut off the Griddy's access to customers for unpaid bills following the Texas freeze. The Texas attorney general also said it is suing Griddy, saying it engaged in deceptive trade practices by issuing excessive bills. Griddy Energy filed a chapter 11 bankruptcy petition (Bankr. S.D. Tex. Case No. 21-30923) on March 15, 2021. Griddy estimated $1 million to $10 million in assets and $10 million to $50 million in liabilities as of the bankruptcy filing. Griddy is represented by Baker Botts LLP as legal counsel. Griddy is represented by Crestline Solutions, LLC and Scott Pllc as public affairs advisors. Stretto is the claims agent. GROUPE DYNAMITE: Gets CCAA Initial Stay Order --------------------------------------------- The Superior Court of Quebec issued an initial order commencing proceedings under the Companies' Creditors Arrangement Act in respect of Groupe Dynamite Inc., GRG USA Holdings Inc., and GRG USA LLC and appointing Deloitte Restructuring Inc. as monitor of the Debtors. The CCAA Proceedings were thereafter recognized in the United States of America pursuant to Chapter 15 of the United States Bankruptcy Code. The Court issued a claims procedure order approving a process for the purpose of identifying, reviewing and determining all claims against the Debtors and their directions and officers. Pursuant to the order, any person wishing to assert a claim against any of the Debtors or against the directors and officers must do so through the claims process by filing a proof of claim with the monitor on or before the claims bar date on June 7, 2021, at 5:00 p.m., or in the case of a restructuring claim, the later of June 7, 2021, at 5:00 p.m. and 30 days after the date of receipt by the applicable creditor of a notice from any of the Debtors giving rise to the restructuring claim. The creditors' instructions and other documents related to the claims process and to the CCAA proceedings are available in the monitor's Web site at https://www.insolvencies.deloitte.ca/GDI. The monitor can be reached at: Deloitte Restructuring Inc. 119 Avenue des Canadiens-de-Montreal Suite 500 Montreal, QC H3B 0M7 Tel: 514-393-7115 Fax: 514-390-4100 Groupe Dynamite -- https://groupedynamite.com/ -- is a fashion retailer with two brands, Garage and Dynamite. The company operates more than 300 stores in Canada and the United States. GRUPO AEROMEXICO: Cuts Boeing 737 Max Order in Restructuring ------------------------------------------------------------ Grupo Aeroméxico, S.A.B. de C.V. (BMV: AEROMEX) said April 23, 2021, it has reached agreement to increase its fleet with 24 new Boeing 737 aircraft, including B737-8 and B737-9 MAX, and four 787-9 Dreamliner aircraft as part of the airline's restructured agreements with the manufacturer and certain lessors to incorporate new aircraft. Other suppliers and financial entities also participated in these transactions, resulting in a comprehensive deal that offers multiple benefits to the carrier. The addition of the first aircraft is scheduled for this year, with nine offering service beginning this summer season, and the rest arriving in the second half of 2021 and during 2022. These transactions represent a milestone in Aeromexico's transformation for the upcoming years, and their economic terms are highly competitive compared to current market levels. These transactions make it possible for Aeromexico to modify long-term maintenance contracts and reduce leasing costs of eighteen (18) other aircraft that are part of the current fleet. Aeromexico estimates that reaching this comprehensive agreement will lead to total savings of approximately 2 billion dollars. Thanks to the savings, the Company can offer even more competitive fares, guaranteeing the best travel experience for customers in state-of-the-art aircraft with on-ground and in-flight services that only Aeromexico offers. The comprehensive agreements are subject to the approval of the United States Court for the Southern District of New York, in charge of Aeromexico's Chapter 11 voluntary financial restructuring process. Andres Conesa, CEO of Aeromexico, stated: "These transactions show the confidence of our employees, customers, lessors, manufacturers, investors, and business partners in the future of Mexico's global airline. It will also give us flexibility to complete other negotiations and put Aeromexico on a strong path to exit Chapter 11 later this year." The Boeing 737 MAX aircraft stands out for being highly efficient and environmentally-friendly, generating fuel savings of up to 14%, reducing CO2 emissions by 15%, and reducing the noise footprint by up to 40% compared to aircraft of previous generations. The Boeing 787 Dreamliner is one of the most modern, safe, comfortable, efficient and least polluting long-range aircraft in the global airline industry. It generates savings of up to 23% in fuel consumption and 25% in CO2 emissions. Aeromexico's current fleet is comprised of 107 aircraft: 47 Embraer 190s, 42 Boeing 737s, and 18 Boeing 787 Dreamliner. Aeromexico will continue pursuing, in an orderly manner, its voluntary financial restructuring through Chapter 11, while continuing to operate and offer services to its customers and contracting from its suppliers the goods and services required for operations. The Company will continue to strengthen its financial position and liquidity, protect and preserve its operations and assets, and implement the necessary adjustments to face the impact from COVID-19. Order Cut in Half Tom Boon of Simple Flying reports that Grupo Aeromexico has apparently cut its order for new Boeing 737 MAX aircraft by half. The airline has received six 737 MAX aircraft so far and was one of the first to return the type to service. The MAX reduction is accompanied by an increase in the airline's expected 787 Dreamliner deliveries. The Boeing 737 MAX order book has taken some hits, and the recent cash crunch airlines have faced as a result of the ongoing crisis along with the type's grounding did not help sales for some time. However, since its recovery, some substantial orders have been placed for the type, most recently by Southwest Airlines. Now Aeromexico has seemingly cut its order, but it appears to be unrelated to the aircraft's grounding. Aeromexico revealed that it had reached an agreement to alter its Boeing aircraft orders as part of its ongoing restructuring under Chapter 11. According to the airline, the deal will see it take 24 737 MAX aircraft and four more Boeing 787 Dreamliners. So far, Aeromexico has received six 737 MAX aircraft, with Boeing's order book showing 54 outstanding orders as of the end of March. This gives 60 overall orders. However, if the airline only takes 24 737 MAX aircraft, the order will effectively be halved. Interestingly, the airline currently has zero outstanding Boeing 787 Dreamliner orders, according to the manufacturer. This suggests that it perhaps sees long-haul as more important as it deals with the industry post-COVID. The airline will take four new 787 Dreamliner aircraft, adding to its current fleet of 18 aircraft. In 2013 Boeing reported that the airline had ordered 19 Dreamliners. However, one recently left the airline, bound to become a private jet. About Grupo Aeromexico Grupo Aeromexico, S.A.B. de C.V. -- https://www.aeromexico.com/ -- is a holding company whose subsidiaries are engaged in commercial aviation in Mexico and the promotion of passenger loyalty programs. Aeromexico, Mexico's global airline, has its main hub at Terminal 2 at the Mexico City International Airport. Its destinations network features the United States, Canada, Central America, South America, Asia and Europe. Grupo Aeromexico and three of its subsidiaries sought Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No. 20-11563) on June 30, 2020. In the petitions signed by CFO Ricardo Javier Sanchez Baker, the Debtors reported consolidated assets and liabilities of $1 billion to $10 billion. Timothy Graulich, Esq., of Davis Polk and Wardell LLP, serves as counsel to the Debtors. GYPSUM RESOURCES: Seeks to Tap Sonoran Capital as Financial Advisor ------------------------------------------------------------------- Gypsum Resources, LLC and Gypsum Resources Materials, LLC seek approval from the U.S. Bankruptcy Court for the District of Nevada to employ Sonoran Capital Advisors, LLC as financial advisor. Sonoran will render these services: (a) perform a review and assessment of the Debtors' financial information; (b) review the Debtors' strategic restructuring alternatives; (c) review the Debtors' accounting practices and procedures and provide recommendations, if necessary; (d) assist with closing the March 31, 2021 financial statements and, if necessary, provide recommendations to improve the closing process; (e) assist with subsequent month-end closings upon request of the Debtors; (f) upon request from the Debtors, the engagement personnel shall liaise with the Debtors' trade vendors, Rep-Clark, LLC, and secured lenders; and (g) cooperate with applicable officers and the Debtors' engaged professionals and counsel to provide necessary services in these Chapter 11 cases. On April 13, 2021, the Debtors' affiliate, 5212 Spanish Heights, LLC, paid Sonoran $20,000 for pre-bankruptcy services rendered. Sonoran will be billed at its hourly rates ranging from $195 to $450 for restructuring services, plus out-of-pocket expenses incurred. Sonoran will be paid a success fee of 0.75 percent of the amount of capital raised from a third party as a result of the capital raise duties. Matthew Foster, a managing director at Sonoran Capital Advisors, disclosed in a court filing 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: Matthew K. Foster Sonoran Capital Advisors, LLC 1733 N Greenfield Rd., Ste. 104 Mesa, AZ 85205 Telephone: (480) 825-6650 Email: mfoster@sonorancap.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. and Sonoran Capital Advisors, LLC 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. HCA WEST: Hytera Buying Remaining Inventory for $1.2 Million ------------------------------------------------------------ HCA West, Inc., HAI East, Inc., and HNA, Inc., ask the U.S. Bankruptcy Court for the Central District of California to authorize the sale of their remaining inventory to Hytera US Inc. pursuant to the terms of the Bill of Sale and Agreement, dated April 14, 2021, for $1,199,395, free and clear of all liens, claims, encumbrances or other interests. A telephonic hearing on the Motion is set for May 6, 2021, at 10:30 a.m. (PT) using ZoomGov audio and video technology. Objections, if any, must be filed no later than 14 days prior to the hearing. The following is the unique ZoomGov connection information for the hearing: Video/audio web address: https://cacb.zoomgov.com/j/1618897382 ZoomGov meeting number: 161 889 7382 Password: 736506 Telephone conference lines: 1 (669) 254-5252 or 1 (646) 828-7666 Following the prepetition and post-petition marketing of their assets, the Debtors entered into a Stalking Horse APA for the sale of a majority of their assets. The stalking horse bidder and eventual purchaser was the Purchaser, which is an indirect affiliate of the Debtors. The sale transactions contemplated in the Stalking Horse APA closed in two steps, on Jan. 12, 2021 and Feb. 5, 2021, for combined cash consideration of more than $8.1 million. The January Sale transferred the Debtors' distribution network to the Purchaser along with certain operating assets and contracts. The February Sale transferred the Debtors' "non-accused" assets to the Purchaser. Motorola, who objected to the Stalking Horse APA, agreed with the Debtors to bifurcate the January Sale and February Sale so that the Illinois District Court could determine whether or not to grant Motorola’s request for an injunction. As the Court is aware, the Illinois District Court denied the injunction, which permitted the Debtors to sell all its inventory, whether accused or "non-accused." Thus, after the denial of the injunction request, the February Sale (relating solely to non-accused inventory) was approved. In connection with the original sale motion that was filed in July 2020 and in light of the pending injunction motion in the Illinois District Court, the Debtors never sought authorization to sell their "accused" inventory. Now that there is clarity regarding their sale of accused inventory after the Illinois District Court's denial of the injunction, the Debtors, who no longer have an operating business, need to liquidate the remaining inventory, all of which they believe is "accused" inventory. To that end, the Debtors ask authorization to sell their remaining inventory that, due to their intellectual property disputes with Motorola, was previously excluded from the two prior asset sales to the Purchaser. The proposed Sale will transfer title to such inventory to the Purchaser in exchange for the amount of $1,199,395. The Debtors are holding over $1.2 million of the Purchaser's cash that was sent to the Debtors by former customers who should have paid the Purchaser rather than the Debtors. The Debtors will use this cash to offset the purchase price and remit the balance, if any, to the Purchaser after the Sale closes. For the reasons set forth, the Debtors believe that the proposed Sale will maximize the value of the Debtors' assets, is for fair consideration, and will maximize creditor returns. The material terms of the proposed Sale to the Purchaser under the Purchase Agreement are: a. The Purchase Price consists of $1,199,395, which amount shall be paid from the Purchaser's cash the Debtors are holding. To the extent the cash on hand is insufficient to cover the full Purchase Price, the Purchaser will pay the difference in cash at closing. To the extent the cash on hand exceeds the Purchase Price, the Debtors will transfer the excess cash to the Purchaser at closing. b. As specified in the Purchase Agreement, all Inventory specified on Exhibit A of the Purchase Agreement. c. The Closing must occur no later than May 21, 2021. d. Except as specifically set forth in the Purchase Agreement, the Purchaser will accept the Inventory at the Closing "as is, where" and "with all faults." It is the Debtors' business judgment that the proposed Sale of the Inventory is supported by sound business reasons and is in the best interest of the Debtors, their estates, and their creditors and stakeholders. The consideration to be paid by the Purchaser, represents a fair and reasonable offer and will provide maximum value to the Debtors under the current circumstances. Finally, in order to allow the immediate realization of value from the proposed Sale, the Debtors respectfully ask that any orders on the Motion be effective immediately, notwithstanding the 14-day stay imposed by Bankruptcy Rule 6004(h). A copy of the Agreement is available at https://tinyurl.com/yrztc3e5 from PacerMonitor.com free of charge. The Purchaser: HYTERA US INC. 8 Whatney Suite 200 Irvine, CA 96218 Attn: Alla Huang E-mail: alla.huang@hytera.us The Purchaser is represented by: COHEN & GRESSER LLP 800 Third Avenue New York, NY 10022 Attn: Bonnie J. Roe, Esq. Daniel H. Tabak, Esq. Facsimile: (212) 957-4514 E-mail: broe@cohengresser.com; dtabak@cohengresser.com About Hytera Communications America HCA West Inc., previously known as Hytera Communications America (West), Inc. -- https://www.hytera.us -- is a global company in the two-way radio communications industry. It has 10 international R&D Innovation Centers and more than 90 regional organizations around the world. Forty percent of Hytera employees are engaged in engineering, research, and product design. Hytera has three manufacturing centers in China and Spain. On May 26, 2020, Hytera sought protection under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Cal. Lead Case No. 20-11507). At the time of the filing, the Debtor estimated assets of between $10 million and $50 million and liabilities of between $500 million and $1 billion. Judge Erithe A. Smith oversees the cases. The Debtors tapped Pachulski Stang Ziehl & Jones, LLP as bankruptcy counsel; Steptoe & Johnson, LLP as corporate and special counsel; Imperial Capital, LLC as financial advisor; and David Stapleton of Stapleton Group as a chief restructuring officer. The Office of the U.S. Trustee appointed a committee of unsecured creditors on June 15, 2020. The committee is represented by Levene Neale Bender Yoo & Brill, LLP. HERTZ GLOBAL: Gives Competing Ch. 11 Sponsor One Week for New Offer ------------------------------------------------------------------- Law360 reports that bankrupt car rental giant Hertz Global asked a Delaware judge Monday, April 26, 2021, for approval of a timetable under which a competing equity sponsor group can submit a new proposal challenging the current Chapter 11 plan while still allowing Hertz to move toward a June 2021 confirmation date. In a pair of motions, Hertz said that it is still soliciting creditor votes on an existing bankruptcy plan underpinned by an equity sponsorship led by Centerbridge Partners LP, but that it wants to give a competing group led by Certares Opportunities LLC and Knighthead Capital Management a fair shot to submit a final, best offer. About Hertz Global Holdings Hertz Corp. and its subsidiaries -- http://www.hertz.com/-- operate a worldwide vehicle rental business under the Hertz, Dollar, and Thrifty brands, with car rental locations in North America, Europe, Latin America, Africa, Asia, Australia, the Caribbean, the Middle East, and New Zealand. The Company also operates a vehicle leasing and fleet management solutions business. On May 22, 2020, The Hertz Corporation and certain of its U.S. and Canadian subsidiaries and affiliates filed voluntary petitions for reorganization under Chapter 11 in the U.S. Bankruptcy Court (Bankr. D. Del. Case No. 20-11218). The Hon. Mary F. Walrath is the presiding judge. White & Case LLP is serving as legal advisor, Moelis & Co. is serving as investment banker, and FTI Consulting is serving as financial advisor. Richards, Layton & Finger, P.A., is the local counsel. Prime Clerk LLC is the claims agent, maintaining the page https://restructuring.primeclerk.com/hertz HIGHLAND CAPITAL: Asks Court to Sanction Ex-CEO & Companies ----------------------------------------------------------- Daniel Gill of Bloomberg Law reports that bankruptHighland Capital Management LP is asking a court to sanction its former CEO and his companies for improperly challenging an asset transfer that occurred during its bankruptcy case. The Dallas-based investment company's request to the bankruptcy court is the latest development in its ongoing, heated dispute with the former CEO, James Dondero, over the course of its Chapter 11 proceedings and the extent of his rights to influence the case. A lawsuit filed by Dondero and his companies, challenging an asset transfer as part of a bankruptcy settlement, violates prior bankruptcy court orders, Highland said in its April 23, 2021 filing. About Highland Capital Management Highland Capital Management LP was founded by James Dondero and Mark Okada in Dallas in 1993. Highland Capital is the world's largest non-bank buyer of leveraged loans in 2007. It also manages collateralized loan obligations. In March 2007, it raised $1 billion to buy distressed loans. Collateralized loan obligations are created by bundling together loans and repackaging them into new securities. Highland Capital Management, L.P., sought Chapter 11 protection (Bank. D. Del. Case No. 19-12239) on Oct. 16, 2019. Highland was estimated to have $100 million to $500 million in assets and liabilities as of the bankruptcy filing. On Dec. 4, 2019, the case was transferred to the U.S. Bankruptcy Court for the Northern District of Texas and was assigned a new case number (Bank. N.D. Tex. Case No. 19-34054). Judge Stacey G. C. Jernigan is the case judge. The Debtor's counsel is James E, O'Neill, Esq., at Pachulski Stang Ziehl & Jones LLP. Foley & Lardner LLP, is special Texas counsel. Kurtzman Carson Consultants LLC is the claims and noticing agent. Development Specialists Inc. CEO Bradley Sharp is a financial adviser and restructuring officer. The Office of the U.S. Trustee appointed a committee of unsecured creditors on Oct. 29, 2019. The committee tapped Sidley Austin LLP as bankruptcy counsel; Young Conaway Stargatt & Taylor LLP as co-counsel with Sidley Austin; and FTI Consulting, Inc., as financial advisor. HOSPITALITY INVESTORS: Lenders Extend Forbearance Period to June 30 ------------------------------------------------------------------- An amendment, dated as of March 29, 2021, to a mortgage loan secured by interests of 15 hotels of Hospitality Investors Trust, Inc. became effective on March 31, 2021. The Company and its operating partnership, Hospitality Investors Trust Operating Partnership, L.P. act as guarantors of certain recourse obligations under the Term Loan, and certain wholly-owned subsidiaries of the OP are borrowers under the Term Loan. As previously disclosed, the Company has been engaged in ongoing discussions with its largest investor, Brookfield Strategic Real Estate Partners II Hospitality REIT II LLC, concerning the possibility of entering into a definitive and comprehensive agreement on the terms of a series of deleveraging or restructuring transactions that would include, among other things, filing by the Company and the OP of pre-packaged Chapter 11 cases under the U.S. Bankruptcy Code in the State of Delaware to implement the Restructuring Transactions pursuant to a plan of reorganization. The amendment has been entered into as part of the Company's ongoing liquidity preservation measures and in anticipation of possibly filing a Pre-Packaged Bankruptcy. There can be no assurance, however, that the Company will be able to enter into a definitive restructuring support agreement related to the Restructuring Transactions on favorable terms, or at all. Moreover, even if the Company is able to enter into a Restructuring Support Agreement, the Restructuring Transactions will remain subject to significant conditions, and there will still be no assurance the Company will be able to complete the Restructuring Transactions, including a Pre-Packaged Bankruptcy, on their contemplated terms, or at all. Pursuant to the amendment, the lenders have agreed to extend the expiration date of the existing forbearance period under the Term Loan established pursuant to a February 2021 forbearance agreement and related to defaults with respect to the Georgia Tech Hotel & Conference Center ground lease, until the first to occur of (i) June 30, 2021, (ii) the effectiveness of a Pre-Packaged Bankruptcy, and (iii) the date on which any Forbearance Termination Event. Among the Forbearance Termination Events are the dismissal or discontinuation of a Pre-Packaged Bankruptcy after it has been filed and the termination of a Restructuring Support Agreement after it has been entered into. The lenders have also agreed to waive the Company's obligation to make monthly capital reserve deposits with respect to repair and replacement of furniture, fixtures and equipment and routine capital expenditures through December 2021. Furthermore, the amendment provides that approximately $1.3 million in brand-mandated property improvement plan reserves related to hotels that were sold during August 2020 has been credited to reduce the principal outstanding under the Term Loan. Pursuant to the amendment, the lenders have agreed to forbear from exercising any of their remedies based on a Pre-Packaged Bankruptcy during the Forbearance Period. In addition, effective when a Pre-Packaged Bankruptcy becomes effective: * the lenders have agreed to waive certain defaults that may occur as a result of the filing of a Pre-Packaged Bankruptcy and certain defaults related to the Georgia Tech Hotel & Conference Center ground lease; * the minimum debt yield test will be temporarily lowered and certain changes to how the test is calculated will be made which could allow the Company to meet the minimum debt yield test and receive any excess cash flows from the properties securing the Term Loan (which the Company is not currently receiving) sooner than if no amendment was made; * the lien related to the Company's Georgia Tech Hotel & Conference Center ground lease may be released, subject to certain terms and conditions; and * the borrowers under the Term Loan will be required to repay $0.5 million in principal each quarter for the seven consecutive quarters beginning with the quarter ending June 30, 2021, and the repayment of $9.2 million in principal less the aggregate amount of the quarterly principal prepayments will become a recourse obligation of the borrowers and guarantors. There are no relationships between the Company, on the one hand, and any of the Term Loan lenders, on the other hand, except that certain of the lenders or their affiliates have made other mortgage and mezzanine loans to the Company. About Hospitality Investors Headquartered in New York, Hospitality Investors Trust, Inc. -- t www.HITREIT.com -- is a self-managed real estate investment trust that invests primarily in premium-branded select-service lodging properties in the United States. As of Dec. 31, 2020, the Company owns or has an ownership interest in a total of 101 hotels, with a total of 12,673 guestrooms in 29 states. Hospitality Investors Trust, Inc. filed with the Securities and Exchange Commission its Annual Report on Form 10-K disclosing a net loss attributable to common stockholders of $223.99 million on $236.77 million of total revenue for the year ended Dec. 31, 2020, compared to a net loss attributable to common stockholders of $214.50 million on $598.65 million of total revenue for the year ended Dec. 31, 2019. As of Dec. 31, 2020, the Company had $1.77 billion in total assets, $1.39 billion in total liabilities, $433.65 million in contingently redeemable class C units in operating partnership, and a total deficit of $51.08 million. McLean, Virginia-based KPMG LLP, the Company's auditor since 2014, issued a "going concern" qualification in its report dated March 30, 2020, citing that the negative impact of the coronavirus pandemic on the Company's ability to generate sufficient cash flows from operations to meet its obligations raises substantial doubt about the Company's ability to continue as a going concern. HOSPITALITY INVESTORS: Posts $224 Million Net Loss in 2020 ---------------------------------------------------------- Hospitality Investors Trust, Inc. filed with the Securities and Exchange Commission its Annual Report on Form 10-K disclosing a net loss attributable to common stockholders of $223.99 million on $236.77 million of total revenue for the year ended Dec. 31, 2020, compared to a net loss attributable to common stockholders of $214.50 million on $598.66 million of total revenue for the year ended Dec. 31, 2019. As of Dec. 31, 2020, the Company had $1.77 billion in total assets, $1.39 billion in total liabilities, $433.65 million in contingently redeemable class C units in operating partnership, and a total deficit of $51.08 million. McLean, Virginia-based KPMG LLP, the Company's auditor since 2014, issued a "going concern" qualification in its report dated March 30, 2020, citing that the negative impact of the coronavirus pandemic on the Company's ability to generate sufficient cash flows from operations to meet its obligations raises substantial doubt about the Company's ability to continue as a going concern. A full-text copy of the Form 10-K is available for free at: https://www.sec.gov/Archives/edgar/data/1583077/000143774921007683/hit20201231_10k.htm About Hospitality Investors Headquartered in New York, Hospitality Investors Trust, Inc. -- www.HITREIT.com -- is a self-managed real estate investment trust that invests primarily in premium-branded select-service lodging properties in the United States. As of Dec. 31, 2020, the Company owns or has an ownership interest in a total of 101 hotels, with a total of 12,673 guestrooms in 29 states. INTEGRATED GROUP: Seeks to Hire Performance Plus as Accountant -------------------------------------------------------------- Integrated Group, LLC seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to employ Performance Plus, Inc. as accountant. Performance Plus will be paid $1,000 to prepare monthly financial statements, balance sheet and income statement and comparative financial statements, and to review the Debtor's books and records on a monthly basis. Meanwhile, the firm will be paid an hourly fee of $150 for all other services not included in the monthly retainer and reimbursed for out-of-pocket expenses incurred. James Baldwin, a partner at Performance Plus, disclosed in a court filing that his firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: James Baldwin Performance Plus, Inc. 111 Wilderness Rd. Hampton, VA 23669 Tel: (757) 851-7050 About Integrated Group Integrated Group, LLC, a Moonachie, N.J.-based manufacturer of office furniture, sought bankruptcy protection (Bankr. D.N.J. Case No. 21-12484) on March 26, 2021. In the petition signed by Michael Boyle, managing member, the Debtor disclosed up to $50,000 in assets and up to $10 million in liabilities. Judge John K. Sherwood oversees the case. Scarinci Hollenbeck and Performance Plus, Inc. serve as the Debtor's legal counsel and accountant, respectively. K3D PROPERTY: Seeks Cash Collateral Access ------------------------------------------ K3D Property Services, LLC asks the U.S. Bankruptcy Court for the Eastern District of Tennessee for authority to use cash collateral from May 29, 2021 through August 28, 2021, in accordance with the proposed budget, with a 20% variance. The Debtor proposes to spend $717,095 during the proposed period, comprised of $437,000 in cost of goods sold and $208,845 in expenses. K3D projects gross revenues at $836,000 (business) and $822,104 (rental) with its net ordinary income at $141,009 for the proposed period. The Debtor's bank balances (after consideration of outstanding checks) as of April 23, 2021, was $51,730. The Debtor owns two small commercial buildings. The Debtor recently leased out the full first floor of one two building. The Debtor's gross revenue figures from work for the first quarter 2021 are higher than any first quarter in the Debtor's history. The Debtor's P&L Statements as of March 31, 2021, include a one-time non-operating expense of $126,954.31 from three real property foreclosures in May 2020. Despite this loss, K3D has positive net income post-petition. The Debtor's primary businesses are (1) painting work in the Chattanooga area with the Debtor providing both commercial and residential paint services and (2) re-merchandising and other services for national chain stores. The latter work began in the 2nd and 3rd quarter, 2020 and has generally been steady. The Debtor's initial work for national chain stores focused on Covid 19 issues but K3D's work for the chain stores has steadily moved away from that work. The Debtor has contracts for work from the national chain stores for the next several months and expects to continue to be hired to work for these stores. Truist Bank (formerly known as SunTrust Bank) holds the senior position in monies. K3D proposes to continue to pay $3,500 monthly to Truist Bank, due the 15th day of each month. K3D will continue to operate the business and maintain all necessary insurances. K3D to continue to use cash collateral pursuant to the projection. K3D proposes that Truist Bank be granted a replacement lien in the Debtor's post-petition assets (other than avoidance actions) but only to the same extent, validity and priority as it held in the same assets pre-petition. The Debtor is current in the payment obligations to Truist Bank. The Debtor will continue to make monthly payments to First Citizens National Bank which holds the senior lien on the property known as 5609 Tennessee Avenue, Chattanooga, TN 37409. The monthly payment amount is $790. The Debtor will continue to maintain both building and property insurance for the security. Confirmation of the Debtor's proposed plan is set for June 14, 2021. A copy of the motion and the Debtor's budget is available for free at https://bit.ly/3ev5fUP from PacerMonitor.com. About K3D Property Services K3D Property Services, LLC offers a variety of services, including home remodeling, basement finishing, drywall installation and finishing, tile installation, carpet installation, wall framing, bathroom remodeling, kitchen remodeling, deck installation and maintenance, interior and exterior painting, commercial painting, wallpaper and popcorn ceiling removal, deck staining, concrete floor coatings, and metal roof painting. K3D Property Services filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Tenn. Case No. 19 15361) on Dec. 23, 2019. The petition was signed by Kenneth Morris, its managing member. At the time of filing, the Debtor had estimated $1 million to $10 million in both assets and liabilities. Judge Shelley D. Rucker oversees the case. The Debtor tapped Farinash & Stofan and The Fox Law Corporation, Inc. as bankruptcy counsel; The Law Offices of Stephan Wright PLLC as special counsel; Lucove, Say & Co. as accountant; and Pointe Commercial Real Estate, LLC as real estate broker. KING'S TOWING: Seeks Approval to Hire Bond Law Office as Counsel ---------------------------------------------------------------- King's Towing and Recovery, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Arkansas to employ the Bond Law Office as its legal counsel. The Debtor needs the assistance of legal counsel to check its financial affairs and represent its interests in its Chapter 11 case. The firm will charge $300 per hour for all work performed by lead attorney Stanley Bond, Esq., and $100 per hour for paraprofessional time. Prior to the filing of the case, the firm received from the Debtor a filing fee of $1,738 and an attorney retainer of $7,479. As disclosed in court filings, the Bond Law Office and its attorneys are "disinterested persons" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Stanley V. Bond, Esq. Bond Law Office P.O. Box 1893 Fayetteville, AR 72702-1893 Telephone: (479) 444-0255 Facsimile: (479) 235-2827 Email: attybond@me.com About King's Towing and Recovery King's Towing and Recovery, LLC filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Ark. Case No. 21-70549) on April 19, 2021, disclosing under $1 million in both assets and liabilities. Judge Ben T. Barry oversees the case. The Bond Law Office, led by Stanley V. Bond, Esq., serves as the Debtor's legal counsel. KNOTEL INC: Unsecureds to Get 0.3% to 2.4% in Committee-Backed Plan ------------------------------------------------------------------- Knotel, Inc., et al., submitted a Joint Combined Chapter 11 Plan of Liquidation and Disclosure Statement. The Liquidating Debtors (who are only certain of the Debtors in the Chapter 11 cases) and the Official Committee of Unsecured Creditors jointly propose the Combined Plan and Disclosure Statement pursuant to Sections 1125 and 1129 of the Bankruptcy Code, and Local Rule 3017-2. The Combined Plan and Disclosure Statement reflects the result of substantial negotiations among the Liquidating Debtors, the Committee and the Purchaser regarding these Chapter 11 Cases, and the Plan Proponents encourage creditors to vote to accept this Combined Plan and Disclosure Statement The Combined Plan and Disclosure Statement is a liquidating chapter 11 plan for the remaining Liquidating Debtors. The Purchased Assets have been transferred from the Debtors to the Purchaser as part of the Sale Closing. The Combined Plan and Disclosure Statement provides that, upon the Effective Date, the Liquidating Trust Assets will be transferred to the Liquidating Trust and the Liquidating Debtors will be dissolved. The Liquidating Trust Assets will be administered and distributed as soon as practicable pursuant to the terms of the Combined Plan and Disclosure Statement and Liquidating Trust Agreement. Holders of Claims in Class 5, which consist of Holders of General Unsecured Claims against the Liquidating Debtors, are impaired and will be paid pro rata from the remaining Liquidating Trust Assets. As to other Estate Causes of Action, given the uncertainty of recovery and the fact that the Liquidating Debtors are not aware of any such items, no value has been assigned. General unsecured claims totaling $300 million to $400 million are projected to recover 0.3% to 2.4% under the Plan. Holders of Interests in Class 6 are not entitled to receive any distribution on account of their equity interests. The Liquidating Trust Expenses, including the fees of the Liquidating Trustee and fees for the Liquidating Trustee's professionals, will be paid out of the Liquidating Trust Assets prior to any Distribution being made to creditors. The confirmation hearing before the Bankruptcy Court has been scheduled for [June 29, 2021 at 10:00 a.m. (prevailing Eastern time)] at the United States Bankruptcy Court, 824 North Market Street, 5th Floor, Courtroom #4, Wilmington, Delaware 19801 (the Confirmation Hearing will most likely be conducted by Zoom or a similar service). The Voting Deadline by which Omni Agent Solutions must RECEIVE original Ballots is June 21, 2021at 4:00 p.m. (prevailing Eastern time). Counsel for the Debtors: Robert J. Dehney Matthew B. Harvey Matthew O. Talmo Eric W. Moats MORRIS, NICHOLS, ARSHT & TUNNELL LLP 1201 N. Market Street, 16th Floor P.O. Box 1347 Wilmington, Delaware 19899-1347 Telephone: 302-658-9200 E-mail: rdehney@morrisnichols.com mharvey@morrisnichols.com mtalmo@morrisnichols.com emoats@morrisnichols.com Christopher M. Samis L. Katherine Good D. Ryan Slaugh POTTER ANDERSON & CORROON LLP 1313 N. Market Street, 6th Floor Wilmington, Delaware 19801 Telephone: 302-984-6050 E-mail: csamis@potteranderson.com kgood@potteranderson.com rslaugh@potteranderson.com Mark Shinderman, Esq. Daniel B. Denny, Esq. MILBANK LLP 2029 Century Park East 3 3rd Floor Los Angeles, California 90067 Telephone: 424-386-4000 E-mail: mshinderman@milbank.com ddenny@milbank.com Counsel for the Official Committee of Unsecured Creditors Michael S. Etkin, Esq. Wojciech F. Jung, Esq. Jennifer B. Kimble, Esq. Colleen M. Maker, Esq. Erica G. Mannix, Esq. LOWENSTEIN SANDLER LLP One Lowenstein Drive Roseland, New Jersey 07068 Telephone: (973) 597-2500 E-mail: metkin@lowenstein.com wjung@lowenstein.com jkimble@lowenstein.com cmaker@lowenstein.com emannix@lowenstein.com A copy of the Joint Combined Chapter 11 Plan of Liquidation and Disclosure Statement is available at https://bit.ly/3xmdpaC from Omniagentsolutions, the claims agent. About Knotel Inc. Knotel -- http://www.Knotel.com/-- is a flexible workspace platform that matches, tailors, and manages space for customers. New York-based Knotel offers workspace properties such as desks, open, and private spaces on rent for companies in 20 global markets. In the U.S., Knotel primarily serves in the New York City and San Francisco areas. Knotel, founded in 2015, raised hundreds of millions of dollars from investors. It expanded rapidly for years and was one of the more aggressive competitors in the co-working and flexible office space sector, becoming one of WeWork's fiercest rival. As the COVID-19 pandemic upended the co-working industry, Knotel, Inc., and its U.S. subsidiaries sought Chapter 11 protection (Bankr. D. Del. Case No. 21-10146) on Jan. 30, 2021, to pursue a sale of the assets to Newmark Group. Knotel estimated $1 billion to $10 billion in assets and liabilities as of the bankruptcy filing. Morris, Nichols, Arsht & Tunnell LLP is serving as the Company's counsel. Moelis & Company is the investment banker. Omni Agent Solutions is the claims agent. LAKES EDGE GROUP: Bid to Use Cash Collateral Denied --------------------------------------------------- The U.S. Bankruptcy Court for the Middle District of North Carolina, Winston-Salem Division, has issued an order denying, as moot, the Motion for Interim and Final Orders Granting Authority to Use Cash Collateral filed by The Lakes Edge Group, LLC on September 25, 2020. The Court entered the Eighth Interim Order Authorizing Use of Cash Collateral on March 31, 2021, authorizing the use of Cash Collateral through and including April 21, 2021, and continued the Motion to that date. Appearing at the hearing, conducted virtually, were Ashley S. Rusher, Chapter 11 Trustee, William P. Miller, the Bankruptcy Administrator, and John Lawson, counsel for the City of Winston Salem. The Court denied the motion as moot by reason of the payment in full of the allowed secured claim of Keystone Real Estate Income Trust, LLC from the proceeds of sale of the Purchased Assets of the Debtor. The sale closed on April 16, 2021. A copy of the order is available for free at https://bit.ly/3t0srzz from PacerMonitor.com. About Lakes Edge Group, LLC The Lakes Edge Group, LLC classifies its business as single asset real estate (as defined in 11 U.S.C. Section 101(51B)). The Lakes Edge Group filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. M.D.N.C. Case No. 20-50715) on Sept. 24, 2020. Mark Fletcher, authorized representative, signed the petition. At the time of filing, the Debtor disclosed assets of less than $50,000 and liabilities of up to $10 million. Judge Lena M. James oversees the case. Bennett-Guthrie PLLC is the Debtor's legal counsel. On November 16, 2020, the court appointed Ashley S. Rusher as Chapter 11 trustee. LAURYN HOPE: Gets OK to Hire Gerdes Law Firm as Conflict Counsel ---------------------------------------------------------------- Lauryn Hope Enterprises, Inc. received approval from the U.S. Bankruptcy Court for the Middle District of Louisiana to employ Gerdes Law Firm, LLC as conflict counsel. Gerdes Law Firm will handle all matters in the Debtor's Chapter 11 case involving Deanna Dufour, the remaining plaintiff in a personal injury suit (Case No. 121987) where the Debtor is a defendant. The plaintiff was initially represented by David LaCerte, Esq., an attorney at Sternberg, Naccari & White, LLC, the Debtor's bankruptcy counsel. The firm will be paid at these rates: Attorneys $275 per hour Paralegals $80 per hour The firm will also be reimbursed for out-of-pocket expenses incurred. The retainer fee is $2,500. Markus Gerdes, Esq., a partner at Gerdes Law Firm, disclosed in a court filing that his firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Markus E. Gerdes, Esq. Gerdes Law. Firm, LLC 106 North Cypress Street Hammond, LA 70404 Tel: (985) 345- 9404 Fax: (985) 543-0434 Email: Markus@gerdeslaw.net About Lauryn Hope Enterprises Lauryn Hope Enterprises, Inc. owns and operates a full-service catering business with principal place of business in Prairieville, La. It conducts business under the names Lauryn's Fine Catering and La Maison de Bella. Lauryn Hope sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M.D. La. Case No. 20-10740) on Oct. 30, 2020. Lauryn Hope President Morgan Belello signed the petition. At the time of the filing, the Debtor had estimated assets of between $100,001 and $500,000 and liabilities of less than $50,000. Judge Douglas D. Dodd oversees the case. The Debtor tapped Sternberg, Naccari & White LLC as bankruptcy counsel, Gerdes Law Firm LLC as conflict counsel, and Campbell Business Solution LLC as accountant. LOST CAJUN: Seeks Permission to Use Cash Collateral --------------------------------------------------- The Lost Cajun Enterprises, LLC and affiliated debtor The Lost Cajun Spice Company, LLC, in separate Court filings, asked the Bankruptcy Court for the District of Colorado to authorize the use of cash collateral and to provide adequate protection to the U.S. Small Business Administration. SBA holds a blanket security on all of the Debtors' assets on account of a $330,000 loan extended by SBA under the Paycheck Protection Program through FirstBank. The Debtors intend to use the amount for payroll and other expenses allowed under the program, pursuant to their cash flow forecast. The Debtors proposed to grant SBA a replacement lien as adequate protection to SBA's interest for the use of cash collateral. The Lost Cajun Enterprises' weekly cash flow forecast provided for $33,388 in total operating outflow for the week ending May 10, 2021. The Lost Cajun Spice does not have any cash outflow. A copy of the cash flow forecast is available at https://bit.ly/3sSJumT from PacerMonitor.com. A copy of the Lost Cajun Enterprise motion is available at https://bit.ly/3gHq9CA and that of the Lost Cajun Spice is available at https://bit.ly/32PWTS3 from PacerMonitor.com free of charge. About The Lost Cajun Enterprises The Lost Cajun Enterprises, LLC, located at 204 Main St., Frisco, CO 80443, filed a Chapter 11 petition (Bankr. D. Col. Case No. 21-12072) on April 21, 2021. In the Chapter 11 petition filed with the Bankruptcy Court, the Debtor disclosed between $100,000 and $500,000 in estimated assets, and between $1 million and $10 million in estimated liabilities. Affiliate, The Lost Cajun Spice Company filed a petition under Sub-chapter V of Chapter 11 of the Bankruptcy Code on April 21, 2021. Lost Cajun Spice estimated up to $50,000 in assets, and between $500,001 and $1 million in liabilities as of the Petition Date. The Debtors' cases are jointly administered. Amy M. Leitch, Esq., at AKERMAN LLP, represents the Debtors as counsel. The petitions were signed by Raymond A. Griffin, founder. MAS CORP: Gets OK to Tap Stutheit & Gartland as Litigation Counsel ------------------------------------------------------------------ MAS Corp received approval from the U.S. Bankruptcy Court for the District of Colorado to employ Stutheit & Gartland, PC as special counsel. Stutheit & Gartland will continue to represent the Debtor in a litigation that it filed against Lisa and Martin Schweitzer in the District Court of Arapahoe County, Colo., styled Mas Corp. v. Schweitzer, Lisa et al., Case No. 2020CV30374, to recover payment for construction services that the Debtor provided on real property owned by the defendants. The hourly rates of Stutheit & Gartland's attorney and staff are as follows: Brian K. Stutheit, Esq. $300 Paralegal $145 Brian Stutheit, Esq., the founding partner of Stutheit & Gartland, disclosed in a court filing 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: Brian K. Stutheit, Esq. Stutheit & Gartland, PC 8119 Shaffer Parkway, Unit A101 Littleton, CO 80127 Telephone: (303) 321-3017 Email: brian@stutheitandgartland.com About MAS Corp MAS Corp filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Colo. Case No. 20-16743) on Oct. 13, 2020. Steven Muth, president, signed the petition. At the time of the filing, the Debtor had estimated assets of less than $50,000 and liabilities of $1 million to $10 million. Judge Kimberley H. Tyson oversees the case. The Debtor tapped Wadsworth Garber Warner Conrardy P.C. as bankruptcy counsel, XCORE BE LLC as accountant, and Tyson & Mendes LLP and Stutheit & Gartland, PC as special counsel. MATRIX INTERNATIONAL: Obtains Permission to Use Cash Collateral --------------------------------------------------------------- Judge Deborah J. Saltzman authorized Matrix International Textile, Inc., on a final basis, to use cash collateral in which First Credit Bank (FCB), the California Employment Development Department (EDD), the U.S. Small Business Administration (SBA), and Orient Gate Enterprises, Ltd., assert to have a security interest and lien. The Debtor will use the cash collateral to pay for ordinary and necessary operating expenses and administrative expenses, in conformity with the budget. The budget provided for $807,654 in total expenses for April/May 2021. Judge Saltzman also authorized the Debtor to pay pre-petition priority payroll, in accordance with the related order. FCB, the EDD, the SBA and/or Orient Gate will have an additional and replacement lien valid, binding, enforceable, non-avoidable, and automatically perfected before the Petition Date, against the Debtor's post-petition assets to the extent that FCB, the EDD, the SBA and/or Orient Gate have a valid and enforceable security interest and/or lien as of the Petition Date, solely to the extent of diminution in the value resulting from the use of cash collateral. A copy of the order and budget is available for free at https://bit.ly/32Us66w from PacerMonitor.com. About Matrix International Textile Matrix International Textile, Inc. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Calif. Case No. 21-11893) on March 10, 2021. In the petition signed by Kourosh Neman, president, the Debtor disclosed up to $10 million in assets and up to $50 million in liabilities. Judge Deborah J. Saltzman oversees the case. Raymond H. Aver, Esq., at the Law Offices of Raymond H. Aver, A Professional Corporation, is the Debtor's legal counsel. MCD ENTERPRISES: Siah Buying Dallas Condo Unit 302 for $519K ------------------------------------------------------------ MCD Enterprises, LLC, asks the U.S. Bankruptcy Court for the Northern District of Texas to authorize the sale of the real property located in Dallas, Texas, commonly known as Condominium Unit 302, in Building Canton Loft 2200, of 00C23700000000302, a condominium project located at 2200 Canton Street, Dallas, Dallas County, Texas, and more fully described as 2200 Canton Loft, PT Blks 7/153, 6/154 & PT Alley & ST, ACS 0.959, Unit 302 & CE 2.929%, INT201800146161, DD05252018 CO-DC, 0153 007 000 1000153 007, to Michael Siah and/or assigns for $519,000. The Movant currently owns the Property. The Property is an asset of the Debtor's bankruptcy estate. A list of all parties asserting a lien, claim, interest or encumbrance in the Property are as follows: a. The Dallas County, Texas, tax assessor/collector asserts a perfected statutory lien securing repayment of current year (2021) ad valorem property taxes to be assessed against the Property. b. Anchor Loans, LP asserts a first lien mortgage on the Property pursuant to that certain Deed of Trust, Security Agreement and Assignment of Rents recorded June 5, 2018, bearing Clerk's Instrument No. 201800146162, Real Property Records of Dallas County, Texas. c. 2200 Canton Loft Condominiums Association, Inc. ("CLCA") asserts a contractual lien against the Property in accordance with Section 51.002 of the Texas Property Code and stemming from that certain Declaration of Condominium Regime and Master Deed for 2200 Canton Loft Condominiums dated Jan. 12, 1995 and recorded Jan. 13, 1995, bearing Clerk’s Instrument No. A001044400000007159, Real Property Records of Dallas County, Texas. d. Jetti Industries, LLC, doing business as Greenleaf Roofing, asserts a Mechanics Lien by Affidavit against the entire condominium complex owned by CLCA, including the Property, by virtue of that Affidavit for Mechanics and Materialman's Lien recorded on Oct. 21, 2019, bearing Clerk's Instrument No. 201900282476, Real Property Records of Dallas County, Texas. The extent of the interest of both the CLCA and Ancho are in bona fide dispute. It is also believed that the price at which the property is to be sold is greater than the aggregate value of all liens on the Property. After extensive marketing, hindered in no small part by the COVID-19 pandemic which began in early 2020, it has located a buyer and desires to sell the Property. The Movant is asking that it be authorized to sell said Property, free and clear of all liens claims and encumbrances with all such liens, claims and encumbrances attaching to the proceeds of sale. The salient terms of the APA are: a. Earnest money deposit: $5,190 b. Total purchase price: $519,000 c. Buyer Side Contingencies – Third party financing addendum allows buyer to terminate the Contract upon written notice given within 21 days following the effective date of the Contract if the Buyer is unable to secure financing of the sum of $503,430 upon terms detailed in said addendum. d. The Buyer accepts the Property in “as-is” condition e. 6% broker's commission f. Contingent upon Court approval g. Sale must be free and clear of judgments, liens, claims and interests The following claims and/or expenses will be paid at Closing: a. Any taxing authorities, including Dallas County and any and all assignees thereof, which have a properly perfected statutory ad valorem property tax liens on the Property; b. all reasonable, customary and usual costs of Closing of the sale of the Property including, without limitation, title policy cost, property taxes, attorney and documents fees, and any real estate commission. The remainder of the sale proceeds will be held in trust by DeMarco-Mitchell, PLLC (counsel for the Debtor) pending resolution of all claims disputes. Any and all remaining liens, claims, interests, and encumbrances not paid in full at closing will attach to the remaining sale proceeds. Finally, the Debtor asks the Court to waive the 14-day stay of any order approving the sale. A copy of the Contract is available at https://tinyurl.com/5xdc8y2h from PacerMonitor.com free of charge. About MCD Enterprises MCD Enterprises, LLC filed a Chapter 11 bankruptcy petition (Bankr. N.D. Tex. Case No. 20-31855) on July 6, 2020, disclosing under $1 million in both assets and liabilities. Judge Stacey G. Jernigan oversees the case. Debtor has tapped Demarco Mitchell, PLLC as its bankruptcy counsel, and Bennett, Weston, LaJone & Turner, P.C. and Rankin Law Group as its special counsel. Areya Holder was appointed as the SubChapter V Trustee. MEDIQUIP INC: Seeks to Tap Berger Fischoff as Bankruptcy Counsel ---------------------------------------------------------------- Mediquip, Inc. seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to employ Berger, Fischoff, Shumer, Wexler, Goodman, LLP as its legal counsel. The firm will render these legal services: (a) advise the Debtor regarding its powers and duties in the continued management of its business and property; (b) represent the Debtor before the bankruptcy court and at all hearings on matters pertaining to its affairs; (c) assist the Debtor in the preparation and negotiation of a plan or reorganization with its creditors; (d) prepare legal papers; and (e) perform all other necessary legal services for the Debtor. The hourly rates of the firm's counsel and staff are as follows: Partners $450 - $575 Associates $315 - $425 Paralegals $185 In addition, the Debtor will reimburse out-of-pocket expenses incurred. As disclosed in court filings, the firm does not represent interests adverse to the Debtor or to the estate. The firm can be reached through: Heath S. Berger, Esq. Berger, Fischoff, Shumer, Wexler, Goodman, LLP 6901 Jericho Turnpike, Suite 230 Syosset, NY 11791 Telephone: (516) 747-1136 Email: hberger@bfslawfirm.com About Mediquip Inc. Mediquip, Inc., a Bethpage, N.Y.-based provider of home health care services, filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y. Case No. 21-70615) on April 2, 2021. Sonia Carrero, chief executive officer, signed the petition. A t the time of the filing, the Debtor was estimated to have $100,000 to $500,000 in assets and $1 million to $10 million in liabilities. Judge Robert E. Grossman oversees the case. Berger, Fischoff, Shumer, Wexler, Goodman, LLP serves as the Debtor's legal counsel. MIKEN OIL: Gets 90-Day Access to Cash Collateral ------------------------------------------------ Judge Brenda T. Rhoades granted in part the request of Miken Oil, Inc., to use the cash collateral of Austin Bank Texas, N.A. (AB), and WCII 1, LLC until the earlier of (i) 90 days from the date of entry of a final order, or (ii) 10 days after a default notice is sent to the Debtor and said default has not been satisfactorily cured. The Debtor will use the cash collateral to pay ordinary and necessary business expenses based on the budget. The Court ruled that AB and WCII are granted valid, binding, enforceable and perfected replacement liens coextensive with their pre-petition liens, as well as in the post-petition proceeds and income received from the sale of oil, gas and other minerals produced, saved or marketed from the property that secures AB's and WCII's interest. The Court ruled, however, that the stipulation between the Debtor and AB or WCII regarding the allowance of a secured creditor's claim, the priority, perfection, validity and extent of the liens and security interest does not apply to the Subchapter V Trustee, Mark Weisbart, any subsequently appointed trustee in the Debtor's case, or any of the Debtor's priority or unsecured creditor. Pre-petition, the Debtor assigned to AB 100% of its interest in the proceeds and income received from the sale of oil, gas and other minerals produced, saved or marketed from the property that was subject to the assignment. AB is entitled to receive the proceeds for the account of the Debtor until all of the Debtor's obligations to AB have been fully paid. AB holds a perfected security interest in the Debtor's oil and gas interests, equipment, contracts, accounts, general intangibles, permits and licenses from the Texas Railroad Commission or Texas Natural Resources Conservation Commission (to operate wells on the property which is the subject of the Assignment. WCII's secured interest derives from, among others, a Deed of Trust, Mortgage, Security Agreement, Assignment of Production and Financing Statement securing certain oil and gas interests in Gregg, Rusk, and Upshur Counties, Texas, including a secured interest in the proceeds and income received from the sale of gas, oil and other minerals produced, saved or marketed from the property which is the subject of the Deed of Trust. WCII holds a perfected security interest in the Debtor's oil and gas interests, equipment, contracts, accounts, general intangibles, permits and licenses from the Texas Railroad Commission or Texas Natural Resources Conservation Commission to operate wells on the property which is subject to the Deed of Trust. A copy of the final order is available for free at https://bit.ly/2PqfQrr from PacerMonitor.com. About Miken Oil Inc. Miken Oil, Inc.'s business consists of the ownership and operation of an oil services company. It sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Tex. Case No. 21-60115) on March 26, 2021. In the petition signed by Mike Tate, president, the Debtor disclosed up to $50,000 in assets and $1 million to $10 million in liabilities. Eric A. Liepins, Esq., is the Debtor's legal counsel. MINAL PHARMACY: Gets Court Nod to Use Cash Collateral ----------------------------------------------------- Judge Thomas J. Tucker authorized Minal Pharmacy, LLC to use cash collateral in the amount of $247,390 according to the budget. The Court ruled that creditors are granted replacement liens on the Debtor's post-petition assets of the same type as those in which each creditor holds a pre-petition lien or security interest. The replacement liens will have the same priority and validity as the pre-petition security interest and liens. The Court also authorized the Debtor to purchase products including pharmaceutical products from McKesson on agreed-upon credit terms in the amounts set forth in the budget. McKesson will maintain its security interest in the collateral on account of these purchases to the extent McKesson holds a valid, perfected and enforceable security interest in the collateral. McKesson may apply credits for any returned pharmaceutical products against either McKesson's pre-petition claim or future purchases of pharmaceutical products, as appropriate. Moreover, the Court authorized the Debtor to segregate funds anticipated for professional fees. A copy of the order is available at https://bit.ly/3vn0T8V from PacerMonitor.com free of charge. Final hearing on the motion is set for May 12, 2021 at 11 a.m. by telephone. About Minal Pharmacy, LLC Organized in 2008, Minal Pharmacy, LLC is an independent, community-based pharmacy located in Hamtramck, Michigan. Minal Pharmacy takes great pride in its ability to service the Hamtramck community and its patients, many of whom receive government assistance. Minal Pharmacy sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Mich. Case No. 21-43364) on April 16, 2021. In the petition signed by Syed Saeed, Responsible Person, the Debtor disclosed up to $50,000 in assets and up to $1 million in liabilities. Elliot G. Crowder at STEVENSON & BULLOCK, P.L.C. is the Debtor's counsel. MTE HOLDINGS: Gets Final Approval on Cash Collateral Use -------------------------------------------------------- Judge Christopher S. Sontchi granted MTE Holdings LLC and its debtor-affiliates final approval to use cash collateral of $350,000 for expenses related to completion of the Alysheba Unit, including any accrued expenses. The pre-petition secured parties will receive a valid, binding, continuing, enforceable, fully perfected first priority senior security interest in and lien on the Alysheba Unit. The pre-petition secured parties will also be granted an allowed administrative expense claim in the amount of any collateral diminution as a result of the use of cash collateral. A copy of the order is available for free at https://bit.ly/3ez5WML from PacerMonitor.com. About MTE Holdings, LLC MTE Holdings, LLC is a privately held company in the oil and gas extraction business. MTE sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Case No. 19-12269) on October 22, 2019. In the petition signed by its authorized representative, Mark A. Siffin, the Debtor disclosed assets of less than $50 billion and debts of $500 million. Judge Karen B. Owens was originally assigned to the case before Judge Christopher S. Sontchi took over. The Debtor tapped Kasowitz Benson Torres LLP as its bankruptcy counsel; Morris, Nichols, Arsht & Tunnell, LLP as its local counsel; Greenhill & Co., LLC, as financial advisor and investment banker; Ankura Consulting LLC, as a chief restructuring officer; and Stretto as its claims and noticing agent. MTPC LLC: Gets $1.5-Mil DIP Financing From Bond Trustee ------------------------------------------------------- Judge Randal S. Mashburn authorized MTPC LLC to obtain post-petition financing of up to $1,500,000 in principal amount from UMB Bank, N.A., pending a final hearing. Judge Mashburn also authorized the Debtor to use cash collateral in which UMB Bank has interest. The Debtor owed UMB Bank, in the Bank's capacity as successor Bond Trustee and Master Trustee for the benefit of the beneficial holders of tax-exempt Bonds, the aggregate principal amount of $113,660,000, on account of the Bonds issued by The Health and Educational Facilities Board of the City of Franklin. The Bond issuance proceeds was loaned to the Debtor pre-petition. The Master Trustee was granted a security interest in all of the Debtor's right, title, and interest in certain real property, including all buildings, improvements, equipment, furniture, fixtures, as well as all rentals and profit relating to the property. Pre-petition. UMB replaced U.S. Bank National Association as Master Trustee and Bond Trustee. As of the Petition Date, the Debtor owes the Bond Trustee (prior to offset after acceleration of the Bonds by the Bond Trustee) with respect to the Bond Indenture: * $113,660,000 in principal amount, * $8,646,886 in accrued and unpaid interest, as of December 15, 2020, and * unliquidated and unpaid fees and expenses incurred through the Petition Date by the Bond Trustee and its professionals. The Court ruled that all obligations under the DIP documents shall constitute DIP super-priority claims, with priority in payment over any adequate protection super-priority claims, and all administrative expenses of the kinds specified in the Bankruptcy Code, but subject to the carve-out. The Bond Trustee is also granted a first priority liens and security interests on all of the Debtor's assets. Cash Collateral The Debtor is authorized to use (i) cash collateral, pursuant to the budget, and (ii) advances under the DIP facility in the aggregate amount of $971,549, pending final hearing. As adequate protection for any diminution in the value of cash collateral and other pre-petition bond collateral resulting from the Debtor's use of these collateral, the Bond Trustee shall have a valid, perfected, and enforceable replacement lien and security interest in all of the Debtor's assets of the same type as the pre-petition bond collateral. The replacement lien will be subject to the carve-out, prior liens and the DIP liens. The Bond Trustee is also granted a super-priority administrative expense claim to the extent the replacement lien proves inadequate. Bankruptcy Proceeding Milestones The parties have agreed to certain milestones in the Debtor's case, including: * the filing of bid procedures and a sale motion on or before June 3, 2021, which shall, among others, (i) set a timetable for the sale of the Debtor's assets, (ii) set a deadline by which prospective bidders must submit written bid with a deposit by June 30, 2021, and (iii) schedule an auction on or before July 7, 2021 if at least one qualified bid is received; and * consummation of the sale of substantially all of the Debtor's assets by July 31, 2021. David E. Lemke, Esq., counsel for the Debtor at Waller Lansden Dortch & Davis, LLP, said the Debtor and the Bond Trustee have negotiated the use of cash collateral and the terms of the DIP financing at arms' length, and in good faith. A final hearing on the motion is set for May 4, 2021 at 11 a.m., at Courtroom 1, 2nd Floor Customs House, 701 Broadway, Nashville, TN 37203, by Zoom Video or Zoom Audio-Only. Objections must be filed by 4 p.m., prevailing Central Time, on April 29. A copy of the order is available for free at https://bit.ly/3ndwwiA from PacerMonitor.com. About MTPC LLC MTPC LLC is a proton-therapy cancer-treatment center that serves a multi-state area of the Southeastern United States and began operations in 2018. It is a freestanding center with three active treatment rooms including one fixed beam and two gantries. MTPC is located in a 43,500-square-foot building adjacent to the campus of the Williamson Medical Center, in Franklin, Tenn. MTPC's affiliate, The Proton Therapy Center, LLC, is a Tennessee limited liability company that was organized in 2010. It is a freestanding center with three active treatment rooms including one fixed beam and two gantries. Proton Therapy Center is located in an 88,000-square-foot building on the campus of the Provision Case CARES Cancer Center at Dowell Springs, in Knoxville, Tenn., a comprehensive healthcare campus focusing on cancer treatment, patient care, research, and education. PCPT Hamlin, another affiliate of MTPC, is a Florida limited liability company that was organized in 2018. It includes an approximately 36,700-square-foot building in the 900-acre Hamlin planned development in the "Town Center" of the 23,000-acre "Horizon West" planning area of West Orange County. MTPC and its affiliates sought Chapter 11 protection (Bankr. M.D. Tenn. Lead Case No. 20-05438) on Dec. 15, 2020. As of Aug. 31, 2020, MTPC's unaudited financial statements reflected total assets of approximately $105.6 million and total liabilities of approximately $131.2 million. Proton Therapy Center's unaudited financial statements reflected total assets of approximately $93.4 million and total liabilities of approximately $130.2 million. Meanwhile, PCPT Hamlin's unaudited financial statements reflected total assets of approximately $139.2 million and total liabilities of approximately $138.5 million. The Hon. Randal S. Mashburn is the case judge. The Debtors tapped Waller Lansden Dortch & Davis, LLP and Foley & Lardner, LLP as bankruptcy counsel, Trinity River Advisors, LLC as restructuring advisor, and CRS Capstone Partners, LLC as financial advisor. Stretto is the claims agent. The U.S. Trustee for Region 8 appointed an official committee of unsecured creditors on Jan. 8, 2021. The committee is represented by Sills Cummis & Gross P.C. and Manier & Herod, P.C. UMB Bank, N.A., as successor Bond Trustee and Master Trustee, is represented by: Kevin J. Walsh, Esq. Colleen A. Murphy, Esq. GREENBERG TRAURIG, LLP One International Place, Suite 2000 Boston, MA 02110 Telephone: (617) 310-6000 Email: Walshke@gtlaw.com Murhpyc@gtlaw.com MUSEUM OF AMERICAN JEWISH: Has Cash Collateral Access Until May 24 ------------------------------------------------------------------ Judge Magdeline D. Coleman authorized the Museum of American Jewish History, d/b/a National Museum of American Jewish History, to use the cash collateral of UMB Bank, N.A., or any duly appointed successor trustee, until May 24, 2021, to fund the Debtor's payroll obligations and other expenses based on the budget. The Debtor's 63-week forecast through May 23 provided for $68,250 in total operating disbursements (for compensation) for the week ending May 2. The Court granted the Indenture Trustee replacement security interests in and replacement liens on all of the Debtor's post-petition assets in which the Indenture Trustee held a pre-petition lien, provided that the lien on post-petition assets will apply only to the types of collateral in which the Indenture Trustee held a valid and enforceable lien on pre-petition assets. The replacement liens will be subject to fees payable to the U.S. Trustee and the clerk of the Bankruptcy Court. A further hearing on the motion is scheduled for May 19, 2021, at 11:30 a.m. Written objections, if any, must be served no later than five business days before the hearing date, at 4:00 p.m. prevailing Eastern Time. A copy of the order is available for free at https://bit.ly/3aI78we from PacerMonitor.com. About Museum of American Jewish History The Museum of American Jewish History -- https://www.nmajh.org/ -- is a Pennsylvania non-profit organization which operates the National Museum of American Jewish History, the only museum in the nation dedicated exclusively to exploring and interpreting the American Jewish experience. The museum presents educational and public programs that preserve, explore and celebrate the history of Jews in America. The museum was established in 1976 and is housed in the Philadelphia's Independence Mall. On March 1, 2020, Museum of American Jewish History sought Chapter 11 protection (Bankr. E.D. Pa. Case No. 20-11285). The Debtor was estimated to have $10 million to $50 million in assets and liabilities. Judge Magdeline D. Coleman oversees the case. The Debtor tapped Dilworth Paxson, LLP as its legal counsel and Donlin, Recano & Company, Inc. as its claims agent. MY SIZE: Incurs $6.2 Million Net Loss in 2020 --------------------------------------------- My Size, Inc. filed with the Securities and Exchange Commission its Annual Report on Form 10-K disclosing a net loss of $6.16 million on $142,000 of revenues for the year ended Dec. 31, 2020, compared to a net loss of $5.50 million on $63,000 of revenues for the year ended Dec. 31, 2019. As of Dec. 31, 2020, the Company had $3.57 million in total assets, $1.49 million in total liabilities, and $2.08 million in total shareholders' equity. Tel Aviv, Israel-based Member Firm of KPMG International, the Company's auditor since 2017, issued a "going concern" qualification in its report dated March 29, 2021, citing that the Company has incurred significant losses and negative cash flows from operations and has an accumulated deficit that raises substantial doubt about its ability to continue as a going concern. A full-text copy of the Form 10-K is available for free at: https://www.sec.gov/Archives/edgar/data/1211805/000121390021018354/f10k2020_mysizeinc.htm About My Size Headquartered in Airport City, Israel, My Size, Inc. -- www.mysizeid.com -- is a creator of mobile device measurement solutions that has developed innovative solutions designed to address shortcomings in multiple verticals, including the e-commerce fashion/apparel, shipping/parcel and do it yourself, or DIY, industries. Utilizing its sophisticated algorithms within its proprietary technology, the Company can calculate and record measurements in a variety of novel ways, and most importantly, increase revenue for businesses across the globe. NATIONAL RIFLE: Asks Approval of Merchandising Agreements With Helm ------------------------------------------------------------------- The National Rifle Association of America and the Sea Girt LLC ask the U.S. Bankruptcy Court for the Northern District of Texas to authorize them to enter into a License Agreement for NRA branded merchandise sold through NRAStore.com and other online and retail outlets with Helm Promotions, LLC. A hearing on the Motion is set for May 19, 2021, at 2:00 p.m. The NRA asks approval pursuant to Bankruptcy Code Section 363(b)(1) and (c)(1) of the Agreements (Exhibits B and C) pursuant to which the NRA will outsource the operation of the NRA Store to Helm and grant a license to Helm to use certain NRA trademarks and logos in connection with the manufacture, sale and distribution of NRA merchandise through the NRAStore.com and other sales channels, such as brick and mortar retail stores, mail order sales, trade and consumer shows, Amazon.com, Walmart.com, and similar e-commerce sites approved by the NRA. These Agreements will result in substantial costs-savings to the NRA and provide the NRA with guaranteed minimum royalty payments for the five-year term of the Agreements. Prior to the Petition Date, the NRA had determined in its business judgment that it would be more cost-effective to outsource the operation of the NRA Store, which sells NRA branded merchandise, to a third party, in exchange for royalties from the sale of the merchandise. At the time the bankruptcy was filed, the NRA was negotiating such an Agreement with Helm. Negotiations continued after the bankruptcy, resulting in the Agreements. Exhibit B is the principal Agreement governing the terms of the license of NRA trademarks and logos to Helm, the payment of the minimum guaranteed royalties by Helm to the NRA, and the other terms governing the use of the trademarks, approval of merchandise, and operation of the NRA Store. Exhibit C is an accompanying Agreement Regarding Use of Customer Lists, Data Security, and Confidentiality between the NRA and Helm that protects the NRA's confidential information and provides for data protection measures to be taken by Helm to protect that information. While the operation of the NRA Store and sale of the NRA branded merchandise is ordinary course of business for the NRA, outsourcing the NRA Store operation and licensing the trademarks and logos to a third party is arguably not. Therefore, the Debtors ask authority from the Court under Section 363(b)(1) of the Bankruptcy Code to enter into the Agreements and the transactions contemplated by those Agreements. Outsourcing the NRA Store operation and the supply chain operations that go along with it will save the NRA labor and other costs associated with those operations in the approximate amount of $222,000 per month. In addition, the NRA will receive the minimum guaranteed royalties set forth in Schedule B to Exhibit B from Helm, regardless of the level of sales of the NRA merchandise through the NRA Store and other retail channels, as well as a 17% royalty on gross sales above the sales required to generate the minimum guaranteed royalties. Thus, the Agreements have a significant economic benefit to the NRA, and it is a sound exercise of the NRA's business judgment to enter into the Agreements. A copy of the Agreements is available at https://tinyurl.com/p3n5xxb3 from PacerMonitor.com free of charge. About National Rifle Association of America and Sea Girt Founded in 1871 in New York, the National Rifle Association of America is a gun rights advocacy group. The NRA claims to be the longest-standing civil rights organization and has more than five million members. Seeking to move its domicile and principal place of business to Texas amid lawsuits in New York, National Rifle Association of America sought Chapter 11 protection (Bankr. N.D. Texas Case No. 21-30085) on Jan. 15, 2021. Affiliate Sea Girt LLC simultaneously sought Chapter 11 protection (Case No. 21-30080). The NRA was estimated to have assets and liabilities of $100 million to $500 million as of the bankruptcy filing. Judge Harlin Dewayne Hale oversees the cases. The Debtors tapped Neligan LLP and Garman Turner Gordon LLP as their bankruptcy counsel, and Brewer, Attorneys & Counselors as their special counsel. The U.S. Trustee for Region 6 appointed an official committee of unsecured creditors on Feb. 4, 2021. Norton Rose Fulbright US, LLP and AlixPartners, LLP serve as the committee's legal counsel and financial advisor, respectively. NEAL A. STUBBS: Tucci Buying Property in Costa Rica for $435K ------------------------------------------------------------- Neal A. Stubbs asks the U.S. Bankruptcy Court for the Middle District of Florida to authorize the sale of the real property located in District 4 Bahia Ballena, County 5 Osa, in the Province of Puntarenas, Costa Rica, to Michael Fredrik Tucci for $435,000. The Debtor is the owner of property, a 100-acre property referred to as Inversiones Tropicals Fuente De Escalares. The Tropicals Property has been marketed for sale post-confirmation. The Debtor has recently received a letter of intent to purchase it. The Tropicals Property is collateral for the CL45 MW Loan 1, LLC with a principal balance of $1,367,000. The Debtor believes the sale of the Tropicals Property pursuant to Sections 363(b) and (f) is in the best interest of the estate and its creditors. The Debtor submits that the Tropicals Property can be sold free and clear of all interests because, among other reasons, the undisputed lienholder is being provided with a monetary partial satisfaction at closing for their interest. The Debtor's counsel has been in contact with the secured creditor holding a lien on the Topricals Property. While the secured creditor has not provided consent to the Motion, the Debtor believes that it is in the best interest of the estate. The secured creditor will receive the net proceeds from the closing (closing costs, taxes, and fees will be paid at closing). The Debtor estimates that the net amount to the secured creditor is approximately $829,000. The Tropicals Property has been substantially exposed to the market and the value has been subject to testing. The additional time and expense that would be incurred if the Tropicals Property was publicly sold or auctioned would not likely enhance the purchase price to justify the additional costs. Based on this and his business judgment, the Debtor believes the price proposed by the Tropicals Property Buyer is reasonable. He asks that any order of the Court authorizing the Tropicals Property sale be effective immediately upon its entry, notwithstanding the contrary provisions of Federal Rules of Bankruptcy Procedure 6004(h) and 6006(d). The Debtor asks that any notice period proscribed by Federal Rule of Bankruptcy Procedure 2002 be shortened to facilitate the consideration of the Motion on an expedited basis. A copy of the Letter of Intent is available at https://tinyurl.com/nx79hzt7 from PacerMonitor.com free of charge. Neal A. Stubbs sought Chapter 11 protection (Bankr. M.D. Fla. Case No. 13-11303) on Aug. 26, 2013. NEWSTREAM HOTEL: Wins Court OK to Use Cash Collateral ----------------------------------------------------- Judge Brenda T. Rhoades of the U.S. Bankruptcy Court for the Eastern District of Texas authorized Newstream Hotel Partners-Lit LLC to use the cash collateral of UC Four Points Little Rock Holder, LLC for working capital purposes, general corporate purposes, and the satisfaction of costs and expenses in administering the Debtor's Chapter 11 case. UC Four Points Little Rock Holder, LLC is successor-in-interest to UC Funding LLC, with respect to a loan agreement UC Funding granted to the Debtor before the Petition Date. The Debtor's authority to use the cash collateral terminates on the earlier of: (i) the date that is 40 days after the Petition Date if the final order, or an additional interim order, has not been entered by the Court by that, (ii) the occurrence of a termination events, and (iii) five business days following the delivery of a written notice by the UC Four Points to the Debtor of a default notice of the occurrence and continuance of a termination event. As adequate protection, UC Four Points will be granted continuing, valid, binding, enforceable, fully perfected, replacement liens and first priority security interests in the Debtor's property and assets, junior only to the carve-out, to the extent of diminution of the pre-petition cash collateral as a result of said use of cash collateral. A final hearing on the request is scheduled for May 25, 2021 at 1:30 p.m. (CDT). A copy of the order is available for free at https://bit.ly/3dYOUZz from PacerMonitor.com. About Newstream Hotel Partners-Lit LLC Newstream Hotel Partners-LIT, LLC filed a Chapter 11 petition (Bankr. E.D. Tex. Case No. 21-40561) on April 16, 2021 with the U.S. Bankruptcy Court for the Eastern District of Texas. In the petition signed by Timothy Nystrom, manager, the Debtor estimated assets between $1 million and $10 million, and liabilities between $10 million and $50 million. SPENCER FANE represents the Debtor as counsel. NUANCE COMMUNICATIONS: Moody's Puts Ba3 CFR on Review for Upgrade ----------------------------------------------------------------- Moody's Investors Service placed Nuance Communications, Inc.'s Ba3 corporate family rating, Ba3-PD probability of default rating, and Ba3 senior unsecured debt rating on review for upgrade following the announcement that the company has entered into a definitive agreement to be acquired by Microsoft Corporation ("Microsoft", Aaa stable) in an all-cash transaction valued at about $19.7 billion, inclusive of Nuance's net debt. The transaction has been unanimously approved by the Boards of Directors of both Nuance and Microsoft. The deal is intended to close by the end of this calendar year and is subject to approval by Nuance's shareholders, the satisfaction of certain regulatory approvals, and other customary closing conditions. On Review for Upgrade: Issuer: Nuance Communications, Inc. Probability of Default Rating, Placed on Review for Upgrade, currently Ba3-PD Corporate Family Rating, Placed on Review for Upgrade, currently Ba3 Senior Unsecured Regular Bond/Debenture, Placed on Review for Upgrade, currently Ba3 (LGD4) Outlook Actions: Issuer: Nuance Communications, Inc. Outlook, Changed To Rating Under Review From Stable RATINGS RATIONALE / FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The review will consider the amount of debt that remains in Nuance's capital structure post-combination, the nature of Microsoft's support for any of the remaining debt, adequacy of financial information for the surviving issuer entity, and the position of such remaining debt within Microsoft's capital structure. If the debt is repaid in full, Moody's will withdraw all of Nuance's ratings, including the CFR and instrument ratings. Nuance's Ba3 CFR reflects the company's leading position in the voice recognition and natural language understanding software industry offset by high leverage levels and a history of significant share buybacks. Though leverage is high (run rate leverage estimated around 6.5x as of December 2020 treating stock compensation as an expense; around 4.5x excluding stock compensation), free cash flow is expected to be strong and cash levels robust, with free cash flow to debt approximately 12% for the twelve months ended December 31, 2020. Nuance uses its natural language expertise to create software and services for the healthcare and enterprise contact center industries. The company continues to maintain a leading position in these markets, and Moody's expect flat to modest organic growth over the next several years. The shift to a subscription model for a significant portion of the company's products and declines in of the legacy transcription business contributed to negative to flat organic growth in recent years but is likely passing its inflection point. Nuance's speculative grade liquidity (SGL) rating of SGL-1 indicates a very good liquidity profile, supported by Moody's expectation of strong free cash flow of more than $200 million annually, strong cash balances and an undrawn $300 million revolver. Nuance held $374 million of cash and marketable securities as of December 31, 2020. Nuance Communications, Inc., headquartered in Burlington, MA is a leading provider of speech recognition and natural language understanding for healthcare and enterprise call center markets as well as consumers. Nuance divested its imaging and automotive business in FY 2019. The company had revenues of approximately $1.5 billion for the twelve months ended December 31, 2020. The principal methodology used in these ratings was Software Industry published in August 2018. ONATAH FARMS: Court Grants Final OK on Cash Collateral Use ---------------------------------------------------------- Judge Robert E. Grant of the U.S. Bankruptcy Court for the Northern District of Indiana authorized Onatah Farms LLC and its affiliated debtors to use cash collateral on a final basis to pay expenses consistent with the budget. The Court ruled, however, that cash collateral proceeds from the Debtors' 2020 farm products will only be used for expenses directly related to the 2020 Farm Products, including hauling expenses, payment of the 2020 loan the Debtors obtained from Agrifund LLC or its affiliate, Ag Resource Management, LLC (ARM), payment of the Debtors' pre-petition obligation to First Financial Bank, and any United States Trustee fees arising from the distribution of 2020 proceeds or expenses. As adequate protection, the liens and security interests of ARM and First Financial 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. As adequate protection to First Financial, the Debtors was directed to pay First Financial $211,000 by April 24, 2021. The amount is the Debtors' estimate of the average cash rent for the tillable acres on which First Financial has a lien that Debtors will plant during the 2021 crop season. The Debtors will also pay both the May 2021 and November 2021 real property taxes, together with any delinquent amounts, directly to the proper county treasurer on the land on which First Financial has a lien, by April 24, 2021, and provide receipts to First Financial reflecting said payments. ARM and First Financial consent to the payment to Court-approved professionals employed by the Debtors for accrued and unpaid fees, disbursements, costs, and expenses. A copy of the order is available for free at https://bit.ly/3sHVU11 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. Judge Robert E. Grant oversees the case. OVERTURF FOWLER LLP and STEEPLECHASE ADVISORS, LLC serve as the Debtors' legal counsel and financial advisor, respectively. ONATAH FARMS: Gets Final OK on Cash Collateral Request ------------------------------------------------------ Judge Robert E. Grant authorized Onatah Farms LLC and its debtor-affiliates to use cash collateral on a final basis to pay their operating expenses according to the budget. The 14-week budget provided for $291,539 in operating disbursements for the week ending April 24, 2021, including $211,000 in land rents. The Court ruled, however, that cash collateral proceeds from Debtors' 2020 farm products will only be used for expenses directly related to the 2020 farm products, including hauling-related expenses, payment of the 2020 loan the Debtors obtained from Agrifund LLC or its affiliate, Ag Resource Management, LLC (ARM), payment of the Debtor's pre-petition obligation to First Financial, and any U.S. Trustee fees arising from the distribution of 2020 proceeds or expenses. As adequate protection to interest holders, the Court ruled that: * the liens and security interests of ARM and First Financial 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 will pay First Financial $211,000 by April 24, 2021, as cash rent for the tillable acres on which First Financial has a lien that Debtors will plant during the 2021 crop season, * the Debtors will pay both the May 2021 and November 2021 real property taxes, together with any delinquent amounts, directly to the proper county treasurer on the land on which First Financial has a lien by April 24, 2021, and provide receipts to First Financial reflecting said payments. A copy of the order is available for free at https://bit.ly/3u7MQEd 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. Judge Robert E. Grant oversees the case. Overturf Fowler LLP and Steeplechase Advisors, LLC serve as the Debtors' legal counsel and financial advisor, respectively. PALM BEACH: Enters Guaranty Claim Settlement with Northern Trust ---------------------------------------------------------------- Palm Beach Brain & Spine, LLC, ("PBBS") Midtown Outpatient Surgery Center, LLC ("MOSC"), and Midtown Anesthesia Group, LLC ("MAG") submitted a Second Amended Joint Disclosure Statement for the Chapter 11 Plan dated April 22, 2021. This case was filed as a result of lawsuits filed by Northern Trust as well as some of the creditors that purchased LOPs, namely, Momentum Funding, Med-Link Capital and Medical Financial Group Holdings. The Liquidating Agent shall seek the maximum amount of the billed charges reasonably collectable taking into account the circumstances of the underlying matter including the cost and time necessary to pursue the claim and shall be authorized to settle an Unsold Receivable at a commercially reasonable rate but not lower than [20]% of the face value of the Unsold Receivable, absent compliance with the following protocol. In the event the Liquidating Agent chooses to either sell an Unsold Receivable or settle an Unsold Receivable for less than [20]% of the face value, the Liquidating Agent shall be required to obtain majority approval from the Post-Confirmation Committee of Creditors, as defined in the Plan of Reorganization, as may be amended, or in face of a tie vote, approval of the Court. In the event the Liquidating Agent seeks to settle a claim that involves both a Sold Receivable and an Unsold Receivable for a service rendered to the same patient, the Liquidating Agent shall consult with the owner of the Sold Receivable before settling the Unsold Receivable, and is required to obtain the agreement of the owner of the Sold Receivable or obtain approval of the related court or this Court in order to settle or sell such Unsold Receivable. Class Four (Well States, as successor to The Northern Trust Company). Well States, as successor to The Northern Trust Company ("Northern Trust"), is a secured creditor of MOSC. Northern Trust has entered into a settlement on its guaranty claim against Maria Marchetti, the terms of which have not been disclosed in this Bankruptcy Case. While Northern Trust asserts it is fully secured with respect to its claim against MOSC, to the extent any of its claim is not paid by through the liquidation of its collateral, the remainder of the allowed claim shall be treated as a General Unsecured Claim in Class Five. Echelon has not agreed to be a Releasing Party under the terms of this Disclosure Statement but has indicated that it would do so if the Plan is revised to clarify that the Causes of Action against Dare and his entities are preserved and can be pursued by the Liquidating Agent on behalf of the Debtors' estates, with Maria's obligation to assist the Liquidating Agent extending to the Liquidating Agent's investigation and pursuit of those Causes of Action, according to a footnote in the Second Amended Joint Disclosure Statement. A full-text copy of the Second Amended Joint Disclosure Statement dated April 22, 2021, is available at https://bit.ly/3sTgxr6 from PacerMonitor.com at no charge. Attorneys for Debtors: KELLEY, FULTON & KAPLAN, P.L. Craig I. Kelley, Esquire Florida Bar No.: 782203 1665 Palm Beach Lakes Blvd. The Forum - Suite 1000 West Palm Beach, Florida 33401 Telephone: (561) 491-1200 Facsimile: (561) 684-3773 About Palm Beach Brain and Spine Palm Beach Brain & Spine -- http://www.pbbsneuro.com/-- is a medical practice providing neurosurgery, minimally invasive spine surgery, and treatment for cancer of the brain and spine. Palm Beach Brain & Spine and two affiliates, Midtown Outpatient Surgery Center, LLC and Midtown Anesthesia Group, LLC, filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Lead Case No. 19-20831) on Aug. 15, 2019. The petitions were signed by Dr. Amos O. Dare, manager. Palm Beach Brain disclosed $13,412,202 in assets and $2,685,278 in liabilities. Midtown Outpatient disclosed $6,857,558 in assets and $2,920,846 in liabilities while Midtown Anesthesia listed $5,081,861 in assets and under $50,000 in liabilities. Judge Mindy A. Mora is the case judge. Dana L. Kaplan, Esq. and Craig I. Kelley, Esq., at Kelley Fulton & Kaplan, P.L. are the Debtors' counsel. PALMCO HOMES: Bruce Pautsch Buying Boca Raton Property for $385K ---------------------------------------------------------------- Palmco Homes II, LLC, asks the U.S Bankruptcy Court for the Southern District of Florida to authorize the sale of the real property located at 10144 Spyglass Way, in Boca Raton, Florida, to Bruce Lloyd Pautsch for $385,000, pursuant to the terms of the "AS IS" Residential Contract for Sale and Purchase. The Debtor currently owns two separate pieces of Real Property in Boca Raton, Florida. It has received an offer, and seeks to sell, one of the properties. Namely, the Subject Property, and more accurately described as Stonebridge TR P LT 3 IN PB52P101. The sale of the Property is subject to Court approval. The Debtor has sound business reasons for selling the Property. The Palm Beach County Property Appraiser appraised the improvement value of the property at $112,593 in 2020. There are significant country club fees that have led to difficulties in selling the Property, and caused related decreases in value. Additionally, the lender, Lvreis, Inc., will be paid a significant sum of the monies owed to it through the sale. The Debtor understands and believes that the Lender supports the Motion and subsequent sale. The Lender will receive the proceeds of the sale as the first in priority secured creditor on the property, and such payment will be portrayed through the HUD-1 at closing, along with any associated closing costs. Therefore, Debtor asserts that the sale price of $385,000 is a sound, and reasonable, business decision in light of all circumstances. A copy of the Contract is available at https://tinyurl.com/9tbxcztu from PacerMonitor.com free of charge. About Palmco Homes II Palmco Homes II, LLC sought protection from the U.S. Bankruptcy Code for the Southern District of Florida (Bankr. S.D. Fla. Case No. 21-12044) on March 1, 2021, listing under $1 million in both assets and liabilities. Judge Michael E. Wiles oversees the case. Van Horn Law Group, PA serves as the Debtor's legal counsel. PARADISE REDEVELOPMENT: Case Summary & 2 Unsecured Creditors ------------------------------------------------------------ Debtor: Paradise Redevelopment Company, LLC 1769 Hillsdale Road, Suite 24793 San Jose, CA 95154 Business Description: Paradise Redevelopment Company, LLC is a Single Asset Real Estate debtor (as defined in 11 U.S.C. Section 101(51B)). Chapter 11 Petition Date: April 27, 2021 Court: United States Bankruptcy Court Northern District of California Case No.: 21-50596 Judge: Hon. Elaine M. Hammond Debtor's Counsel: Stanley Zlotoff, Esq. STANLEY A. ZLOTOFF 300 South First Street Suite 215 San Jose, CA 95113 Tel: (408) 287-5087 Fax: (408) 287-7645 Estimated Assets: $0 to $50,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Juan-Carlos Casas, managing member. A full-text copy of the petition containing, among other items, a list of the Debtor's two unsecured creditors is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/AVOGRWY/Paradise_Redevelopment_Company__canbke-21-50596__0001.0.pdf?mcid=tGE4TAMA PBS BRAND: Brandco's Interest Sold to Sortis; Files Modified Plan ----------------------------------------------------------------- PBS Brand Co., LLC, et al., submitted a First Modified Amended Combined Disclosure Statement and Chapter 11 Plan of Liquidation. The Debtors, together with the Committee, CrowdOut and Sortis, reached agreement upon a proposed form of order consistent with the Court's ruling at the March 10, 2021 hearing, and on March 16, 2021, the Court entered an Order approving the sale (the "Sale Order"). On March 18, 2021, the Sale to Crowdout closed. Consistent with the Sale Order, between March 3, and April 20, 2021, the Debtors filed a series of notices with respect to contracts to be designated for potential assumption and assignment to the Purchaser and for contracts to be assumed and assigned to the Purchaser and prior to April 20, 2021. As of April 20, 2021, all but one of the leases have been assumed and assigned to the Purchaser. Additionally, a significant portion of the designated executor contracts were assumed and assigned to the Purchaser. On March 25, 2021, the Debtors filed a motion to approve a settlement with Sortis and for approval of a private sale of certain of Brandco's interest in nondebtor Affiliates to Sortis (the "Private Sale Motion"). The Private Sale Motion sought approval of an agreement by and through which (i) Brandco agreed to sell to Sortis or its designee Brandco's interests in substantially all of the nondebtor Affiliates, including the rights to three nondebtor Affiliates that the Purchaser had the option to take the free and clear of claims and interests in the Assets, (ii) Sortis waived all claims it held against the Debtors' estates, and all of Sortis' proofs of claim filed in the Chapter 11 Cases were deemed withdrawn without need for further order of the Court, (iii) Sortis agreed to pay $20,000.00 to the Debtors; (iv) all of the claims and liens of Sortis as against the nondebtor affiliates not taken by Sortis or its designee were not released and were expressly reserved and preserved, and (v) each of the nondebtor Affiliates purchased by Sortis or its designee agreed to waive all intercompany claims. On March 31, 2021, the Bankruptcy Court entered an Order approving the Private Sale Motion, and on March 31, 2021, the private sale to Sortis' designee closed. After the approval of the Private Sale Motion and subsequent closing, all Sortis Claims against the Debtors, including but not limited to all Claims in Class 1 of the Plan have been waived and released. The First Modified Amended Combined Plan and Disclosure does not alter the proposed treatment for unsecured creditors and the equity holder: * Class 5 General Unsecured Claims totaling 14,500,000 will recover 3% to 6% of their claims. * Class 6 Convenience Class of Unsecured Claims totaling $381,653 will recover 5% of their claims. * All PBS Interests shall be cancelled, released, discharged, and extinguished. Holders of PBS Interests shall not receive any distribution on account of such Interests. A copy of the First Modified Amended Combined Plan and and Disclosure Statement dated April 22, 2021, is available at https://bit.ly/3gHAoqA from Omniagentsolutions, the claims agent. Counsel to the Debtors: Jeffrey R. Waxman Eric J. Monzo Brya M. Keilson Sarah M. Ennis Morris James LLP 500 Delaware Avenue, Suite 1500 Wilmington, DE 19801 Telephone: (302) 651-7700 E-mail: jwaxman@morrisjames.com E-mail: emonzo@morrisjames.com E-mail: bkeilson@morrisjames.com E-mail: sennis@morrisjames.com About PBS Brand Co. Denver-based PBS Brand Co. LLC and its affiliates own and operate "Punch Bowl" restaurants and bars across the United States. PBS Brand Co. and its affiliates concurrently filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Lead Case No. 20-13157) on Dec. 21, 2020. Stacy Johnson Galligan, authorized representative, signed the petitions. In its petition, PBS Brand disclosed assets of between $10 million and $50 million and liabilities of the same range. Judge John T. Dorsey oversees the cases. The Debtors tapped Morris James LLP as their legal counsel; SSG Advisors, LLC as investment banker; Omni Agent Solutions as the claims, noticing and balloting agent; and Gavin/Solmonese LLC and B. Riley Advisory Services as restructuring advisors. Edward Gavin of Gavin/Solmonese and Mark Shapiro of B. Riley both serve as chief restructuring officers. The U.S. Trustee for Region 3 appointed an official committee of unsecured creditors on Jan. 6, 2021. Porzio, Bromberg & Newman, P.C., and Province, LLC, serve as the committee's legal counsel and financial advisor, respectively. PENN NATIONAL: Moody's Affirms B1 CFR & Alters Outlook to Stable ---------------------------------------------------------------- Moody's Investors Service affirmed Penn National Gaming, Inc.'s Corporate Family Rating at B1 and Probability of Default Rating at B1-PD. The company's existing senior secured revolver, term loan A, and term loan B were upgraded to Ba3 from B1, and the company's existing senior unsecured notes due 2027 were affirmed at B3. The company's Speculative Grade Liquidity rating remains SGL-2 and the outlook was changed to stable from negative. The change in outlook to stable and affirmation of Penn's B1 CFR considers the improvement in operating performance since the company's casinos have reopened following the Q1 and Q2 2020 closures. The company's improved EBITDA margin since reopening, positive free cash flow and good liquidity including a substantial cash balance, are reducing leverage from the peaks hit during the coronavirus and improving the company's flexibility to manage amid the lingering effects of the pandemic. The upgrade of the senior secured revolver, term loan A and term loan B to Ba3 reflects the mix shift of debt in the company's capital structure, with a reduction in senior secured debt from the revolver paydown and term loan repayment, as well as an increase in unsecured debt which provides support and loss absorption to the secured debt. Affirmations: Issuer: Penn National Gaming, Inc. Corporate Family Rating, Affirmed B1 Probability of Default Rating, Affirmed B1-PD Senior Unsecured Regular Bond/Debenture, Affirmed B3 (LGD5 from LGD6) Upgrades: Issuer: Penn National Gaming, Inc. Senior Secured Bank Credit Facility, Upgraded to Ba3 (LGD3) from B1 (LGD3) Outlook Actions: Issuer: Penn National Gaming, Inc. Outlook, Changed To Stable From Negative RATINGS RATIONALE Penn's B1 CFR reflects the meaningful earnings decline from efforts to contain the coronavirus and the potential for a slow or uneven recovery as most properties have reopened. The rating also reflects Penn's high leverage along with longer-term fundamental challenges facing Penn and other regional gaming companies related to consumer entertainment preferences and US population demographics that Moody's believes will continue to move in a direction that does not favor traditional casino-style gaming. Positive credit considerations include Penn's large size in terms of revenue and high level of geographic diversification and the operating and financial benefits Moody's believes are available to Penn through the company's relationship with Gaming & Leisure Properties, Inc. ("GLPI"), a real estate investment trust. Penn benefits from its relationship with GLPI in that it can transact with them and present opportunities for Penn to secure management contracts from new assets at GLPI. Positive consideration is also given to Penn's minority ownership in and relationship with Barstool Sports, Inc., a digital sports media company, which Moody's believes will enable the company to benefit in the retail and online gaming and sports betting markets. Penn's performance since casinos reopened, including margin improvement and expected sequential improvement through 2021, will help drive debt-to-EBITDA leverage down below 7x over the next 12 months, which supports the rating. Penn's speculative-grade liquidity rating of SGL-2 reflects good liquidity, with high cash levels and solid positive free cash flow generation now that gaming facilities are reopened. As of the year ended December 31, 2020, Penn had cash of $1.85 billion, bolstered by its unsecured convertible note offering and equity offerings in 2020, and no borrowings on the company's $700 million revolving credit facility ($28.2 million of letters of credit result in $671.8 million in revolver availability). Moody's estimates the company could maintain sufficient internal cash sources after maintenance capital expenditures to meet required annual term loan amortization of approximately $64 million and interest requirements over the next twelve-month period. The company has no near-term debt maturities, with its revolver and term loan A maturing in 2023. The company is subject to a minimum liquidity covenant currently set at $225 million with which it is in compliance. Penn's maximum total net leverage ratio, senior secured net leverage ratio, and minimum interest coverage ratio financial maintenance covenants were amended and will not be tested until Q1 2021, at which time the company will have the ability to annualize Q1 2021 EBITDA for the calculation. Moody's believes the company will maintain compliance with its covenants throughout 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 Penn from the current weak US economic activity and a gradual recovery for the coming year. 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 gaming sector has been one of the sectors most significantly affected by the shock given its sensitivity to consumer demand and sentiment. More specifically, the weaknesses in Penn's credit profile, including its exposure to travel disruptions and discretionary consumer spending have left it vulnerable to shifts in market sentiment in these unprecedented operating conditions and Penn remains vulnerable to the outbreak continuing to spread. Governance risk is considered balanced given public ownership, absence of a dividend, and minimal levels of share repurchases. From a leverage and financial policy perspective, given the impact from efforts to contain the coronavirus as well as the company's sizable debt balance including financing obligations and lease liabilities, Penn's leverage is expected to improve but remain elevated. As a result, Moody's continues to characterize Penn's financial policy as aggressive with respect to leverage and relative to the company's existing rating category. Partly mitigating this concern are several qualitative factors, including the company's large size in terms of revenue and number of assets, as well as the company's significant geographic diversification. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The stable outlook considers the recovery in the company's business and margin improvement exhibited in Q3 and Q4 2020, and the expectation for sustained improvement in 2021. The stable outlook also incorporates the company's good liquidity which incorporates $1.85 billion in cash and the expectation for debt-to-EBITDA leverage to decline to below 7x over the next twelve months as the business continues to recover and debt is reduced. Penn remains vulnerable to travel disruptions and unfavorable sudden shifts in discretionary consumer spending and the uncertainty regarding the sustainable EBITDA margin and the pace at which consumer spending at reopened gaming properties will recover. Ratings could be downgraded if liquidity deteriorates or if Moody's anticipates Penn's earnings recovery will take longer or be more prolonged because of actions to contain the spread of the virus or reductions in discretionary consumer spending. The ratings could also be downgraded if debt-to-EBITDA leverage is sustained above 6.75x or the company implements a meaningful dividend or share repurchase program with reducing leverage. Ratings could be upgraded if the company's facilities remain open and earnings recover such that consistent and comfortably positive free cash flow and sustained reinvestment flexibility is fully restored, and debt-to-EBITDA is sustained below 5.75x. The introduction of a dividend or meaningful share repurchases could also lead to a tightening of the leverage factor necessary for an upgrade. Penn owns, operates or has ownership interests in gaming and racing facilities and video gaming terminal operations with a focus on slot machine entertainment. The Company operates 41 facilities in 19 states. The Company also offers social online gaming through its Penn Interactive Ventures division, and has a 36% ownership stake in Barstool Sports, Inc., a digital sports media company. Most of Penn's gaming facilities are subject to triple net master leases; the most significant of which are the Penn Master Lease and the Pinnacle Master Lease with Gaming and Leisure Properties, Inc., a publicly traded real estate investment trust as the landlord under the Master Leases. Penn has four reportable segments: Northeast, South, West and Midwest. Revenue for the publicly-traded company for the latest 12-month period ended December 31, 2020 was $3.6 billion. The principal methodology used in these ratings was Gaming Methodology published in October 2020. PINK MONKEY: Case Summary & 16 Unsecured Creditors -------------------------------------------------- Debtor: Pink Monkey, Inc. DBA Pink Monkey Studio DBA Pink Monkey Solutions DBA DB Fabricor DBA Couches and Lanterns DBA Pink Monkey Products 401 Main Street, Suite 2 Silt, CO 81652 Business Description: Pink Monkey, Inc. -- https://pinkmonkeystudio.com -- is a custom fabrication, special event design, and production company. Chapter 11 Petition Date: April 27, 2021 Court: United States Bankruptcy Court District of Colorado Case No.: 21-12195 Judge: Hon. Elizabeth E. Brown Debtor's Counsel: Aaron A. Garber, Esq. WADSWORTH GARBER WARNER CONRARDY, P.C. 2580 West Main Street Suite 200 Littleton, CO 80120 Tel: 303-296-1999 E-mail: agarber@wgwc-law.com Total Assets:$282,117 Total Liabilities: $1,397,703 The petition was signed by Nathan Cox, president/co-owner. A full-text copy of the petition containing, among other items, a list of the Debtor's 16 unsecured creditors is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/XLYWQWA/Pink_Monkey_Inc__cobke-21-12195__0001.0.pdf?mcid=tGE4TAMA PORT ARTHUR: Seeks to Hire Walker & Patterson as Legal Counsel -------------------------------------------------------------- Port Arthur Steam Energy, L.P. seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Walker & Patterson, P.C. to handle its Chapter 11 case. The firm's services include negotiating and preparing a Chapter 11 plan of reorganization, assisting the Debtor in the sale of its property, preparing complaints to recover property of the estate and other legal services necessary to administer the Debtor's Chapter 11 case. Walker & Patterson will be paid at hourly rates ranging from $575 to $625. The firm will also receive reimbursement for out-of-pocket expenses incurred. Johnie Patterson, Esq., a partner at Walker & Patterson, disclosed in a court filing that his firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Johnie Patterson, Esq. Walker & Patterson, P.C. P.O. Box 61301 Houston, TX 77208-1301 Tel: (713) 956-5577 Fax: (713) 956-5570 Email: jjp@walkerandpatterson.com About Port Arthur Steam Energy Port Arthur Steam Energy, L.P. filed a Chapter 11 bankruptcy petition (Bankr. S.D. Texas Case No. 21-60034) on April 14, 2021, disclosing under $1 million in both assets and liabilities. Judge Christopher M. Lopez oversees the case. The Debtor hired Walker & Patterson, P.C. as its legal counsel. PROTON THERAPY: Wins Court Nod to Use Cash Collateral ----------------------------------------------------- Judge Randal S. Mashburn authorized Proton Therapy Center, LLC on an interim basis to use cash collateral from gross revenue derived in the ordinary course of the Debtor's business until the earlier of (i) the occurrence of a termination event, and (ii) the last day included in the cash collateral budget. The budget covering the period through July 30, 2021, provided for $316,622 in operating expenses for the week ending April 23, 2021. The Debtor, however, is not authorized to use any gross revenue or other cash collateral not derived in the ordinary course of its operations. The Debtor has agreed with UMB Bank, N.A., as successor Bond Trustee under the Bond Indenture, to the Debtor's use of the cash collateral to be able to continue as a going concern and preserve its estate. The Debtor is obligated to the Bond Trustee for the benefit of the beneficial holders of the tax-exempt bonds of $129,595,000 in aggregate principal amount issued by The Health, Educational and Housing Facility Board of the County of Knox for the benefit of the Debtor. The Bond Trustee accelerated the Bonds and set off the balance of the Bond Trustee Funds in the approximate amount of $11,165,211. The Bond Trustee Funds are held in trust for the Bondholders and are part of the pre-petition bond collateral. UMB replaced U.S. Bank National Association as the Master Trustee under the Master Trust Indenture. As of the Petition Date, prior to accounting for the set off, the Debtor owes $108,775,000 in unpaid principal on the bonds, and $3,906,257 in related accrued and unpaid interest as of December 15, 2020, plus unliquidated fees and expenses the Bond Trustee and its professionals incurred through the Petition Date. The Court ruled that, as adequate protection for any diminution in the value of the cash collateral and other pre-petition bond collateral resulting from the Debtor's post-petition use thereof, the Bond Trustee shall have a valid, perfected and enforceable replacement lien and security interest in all of the Debtor's assets of the same type as the pre-petition bond collateral, together with the proceeds, rents, products thereof, exclusive of cause of action under Chapter 5 of the Bankruptcy Code. The Bond Trustee shall also have a super-priority administrative expense claim with recourse to and payable from all of the Debtor's assets. The super-priority claim shall be subject only to the prior liens and carve-out. As further adequate protection, the Debtor must also comply with certain bankruptcy milestones, including the filing of bid procedures and sale motion in form and substance acceptable to the Bond Trustee, by June 3, 2021, and the consummation of the sale before July 31, 2021. A copy of the order is available for free at https://bit.ly/3tLSXgY from PacerMonitor.com. Final hearing on the motion is on May 4, 2021 at 11 a.m., (prevailing Central Time), at Courtroom 1, 2nd Floor Customs House, 701 Broadway, Nashville, TN 37203. Objections must be filed by 4 p.m., prevailing Central Time, on April 29. About Proton Therapy Center The Proton Therapy Center, LLC (PCPTK) is a Tennessee limited liability company that was organized in 2010. PCPTK is located in an 88,000 square-foot building on the campus of the Provision Case CARES Cancer Center at Dowell Springs, in Knoxville, Tennessee, a comprehensive healthcare campus focusing on cancer treatment, patient care, research, and education. PCPTK is a freestanding center with three active treatment rooms including one fixed beam and two gantries. MTPC LLC is a proton-therapy cancer-treatment center that serves a multi-state area of the Southeastern United States and began operations in 2018. MTPC is located in a 43,500 square-foot building adjacent to the campus of the Williamson Medical Center, in Franklin, Tennesssee. MTPC is a freestanding center with three active treatment rooms including one fixed beam and two gantries. PCPT Hamlin is a Florida limited liability company that was organized in 2018. PCPT Hamlin will include an approximately 36,700 square foot building in the 900-acre Hamlin planned development in the "Town Center" of the 23,000 acre "Horizon West" planning area of West Orange County. MTPC, LLC and affiliates The Proton Therapy Center, LLC, and PCPT Hamlin, LLC, sought Chapter 11 protection (Bankr. M.D. Tenn. Case Nos. 20-05438 to 20-05440) on Dec. 15, 2020. As of Aug. 31, 2020, MTPC's unaudited financial statements reflected total assets of $105,600,000 and total liabilities of $131,200,000, PCPTK's unaudited financial statements reflected total assets of $93,400,000 and total liabilities of $130,200,000, and PCPT Hamlin's unaudited financial statements reflected total assets of $139,200,000 and total liabilities of $138,500,000. The Hon. Randal S. Mashburn is the case judge. The Debtors tapped WALLER LANSDEN DORTCH & DAVIS, LLP, and FOLEY & LARDNER LLP as bankruptcy counsel; and TRINITY RIVER ADVISORS, LLC, as restructuring advisor. STRETTO is the claims agent. The Office of the U.S. Trustee for the Middle District of Tennessee has appointed an Official Committee of Unsecured Creditors in the Debtor's case. Counsel for the Debtor: David E. Lemke, Esq. Tyler N. Layne, Esq. Gabriela Smith, Esq. WALLER LANSDEN DORTCH & DAVIS, LLP 511 Union Street, Suite 2700 Nashville, TN 37219 Telephone: (615) 244-6380 Facsimile: (615) 244-6804 Email: David.Lemke@wallerlaw.com Tyler.Layne@wallerlaw.com Gaby.Smith@wallerlaw.com - and - Marcus A. Helt, Esq. FOLEY & LARDNER LLP 2021 McKinney Avenue, Suite 1600 Dallas, TX 75201 Telephone: (214)999-4526 Facsimile: (214) 999-4667 Email: mhelt@foley.com - and - Jack G. Haake, Esq. FOLEY & LARDNER LLP Washington Harbour 3000 K Street, Suite 600 Washington, D.C. 20007 Telephone: (202) 295-4085 Facsimile: (202) 672-5399 Email: jhaake@foley.com RADIO DESIGN: Has Permission to Use Cash Collateral --------------------------------------------------- Judge Thomas M. Renn authorized Radio Design Group, Inc., to continue using cash collateral according to the Debtor's agreement with its creditors as well as with parties-in-interest to the cash collateral. About Radio Design Group Radio Design Group, Inc., is a design and engineering firm based in Grants Pass, Oregon. Since its incorporation in 1992, Radio Design has grown from a small RF consulting company specializing in small commercial markets to a vital contributor to unique and innovative products that have advanced the state of technology in both the commercial and defense-related markets. Radio Design previously sought bankruptcy protection on July 24, 2014 (Bankr. D. Ore. Case No. 14-62732). Radio Design again sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Ore. Case No. 19-63617) on Dec. 2, 2019. In the petition signed by James Hendershot, president, the Debtor was estimated to have $1 million to $10 million in assets and liabilities of the same range. Judge Thomas M. Renn is assigned to the case. The Debtor is represented by Loren S. Scott, Esq., at The Scott Law Group. SAGE ECOENTERPRISES: Wins Cash Collateral Access Thru May 4 ----------------------------------------------------------- The U.S. Bankruptcy Court for the Western District of North Carolina, Asheville Division, has authorized Sage EcoEnterprises, LLC to use cash collateral on an interim basis in accordance with the budget through May 4, 2021, the date of the final hearing. Sage EcoEnterprises sought to use cash collateral to continue operations in the ordinary course of business. The budget provided for $47,135 in total expenses for the period between April 21, 2021 through April 30, 2021, including cost of sales for $18,870. A copy of the budget is available at https://bit.ly/3xpHuGk from PacerMonitor.com free of charge. As of the Petition Date, Branch Banking and Trust Company/Truist Bank asserts a $355,719 claim against the Debtor. The debt is secured by a first lien on substantially all of the Debtor's assets including its inventory, accounts receivable, deposit accounts, equipment, and their proceeds. The United States Small Business Administration also asserts a pre-petition claim of $150,000 against the Debtor, which claim is secured by a lien on substantially all of the Debtor's assets. According to the Debtor, the lenders enjoy a substantial equity cushion that adequately protects their interests in the Debtor's property on account of assets of over $829,000 which the Debtor held as of the Petition Date. In addition, the Debtor proposed to grant the lenders replacement liens on the post-petition assets of the same character and type, to the same extent and validity, as the lenders' liens existing before the Petition Date. Pursuant to the Court order, the Debtor is authorized to use cash collateral in the ordinary course of business for the expenses specified in the budget. The Debtor may use cash collateral only for ordinary and necessary business expenses consistent with the specific items and amounts contained in the attached budget; provided, however, that the Debtor may vary from the Budget by 10% per line item on a cumulative basis. As adequate protection for the Lenders' interest in cash collateral, to the extent the Debtor uses such cash collateral, the Lenders are granted valid, attached, choate, enforceable, perfected and continuing security interests in, and liens upon all post-petition assets of the Debtor of the same character and type, to the same extent and validity as the liens and encumbrances of the Lenders attached to the Debtor's assets pre-petition. The Lenders' security interests in, and liens upon, the PostPetition Collateral will have the same validity as existed between the Lenders, the Debtor, and all other creditors or claimants against the Debtor's estate on the Petition Date. A final hearing on the matter is set for May 4 at 10 a.m. A copy of the Debtor's motion is available for free at https://bit.ly/3nd2k6Q from PacerMonitor.com. A copy of the order and the Debtor's budget is available for free at https://bit.ly/3xp726w from PacerMonitor.com. About Sage EcoEnterprises Sage EcoEnterprises, LLC, d/b/a Green Sage Cafe, is a privately held company that owns and operates restaurants. The Debtor filed a Chapter 11 petition with the United States Bankruptcy Court Western District of North Carolina (Bankr. W.D.N.C. Case No. 21-10072) on April 20, 2021. In the petition signed by James R. Talley, member manager, the Debtor reported $1,155,799 in total assets and $1,550,628 in total liabilities. Judge George R. Hodges oversees the case. Richard S. Wright, Esq. at MOON WRIGHT & HOUSTON, PLLC is the Debtor's counsel. SCOTT SILVERSTEIN: Unsecureds to Get Less 1% in Liquidating Plan ---------------------------------------------------------------- Scott Silverstein LLC, d/b/a Silverstein Company, filed with the U.S. Bankruptcy Court for the Southern District of New York a Disclosure Statement in connection with the Chapter 11 Plan of Liquidation on April 22, 2021. Following the liquidation of its assets and resolution of a litigation claim against Macy's Retail Holdings, Inc., the Debtor filed the accompanying Plan as a means to distribute the net residual cash proceeds to creditors. The proceeds currently on hand total approximately $123,000, and derive from two sources: (i) the liquidation of the Debtor's residual branded Adrianna Papell merchandise pursuant to a post petition agreement (the "Sell-Off Agreement") made with Adrianna Papell and the Debtor's secured lender, Wells Fargo N.A.; and (ii) the recently approved $60,000 settlement (the "Settlement") of certain avoidance litigation commenced by the Debtor against Macy's. In connection with the Sell-Off Agreement, the Debtor continued to operate its business through the fall of 2019 and satisfied the secured claim of Wells Fargo in the sum of approximately $1,497,000. The Debtor currently has available surplus proceeds in the sum of $62,965. The Debtor has also settled its avoidance claim against Macy's for $60,000, pursuant to Order dated March 24, 2021. The Plan has been made possible by the agreements of various former employees to voluntarily accept less than full payment of their statutory priority wage claims. This accommodation will enable the Debtor to seek confirmation of the Plan even though the Net Distributable Cash Proceeds are otherwise insufficient to pay all allowed administrative expense and priority claims in full. Additionally, to make confirmation possible, the professional fees of the Debtor's counsel have been voluntarily capped at $35,000. All claims have been accounted for except for three disputed priority claims which will be the subject of objections in connection with the confirmation process. The Plan is conditioned upon a successful outcome of the objections and the Debtor's effort to recharacterize these disputed claims. Class I consists of Priority Wage Claims. Each holder of an Allowed Priority Wage Claim shall receive a dividend on the Effective Date from Net Distributable Cash Proceeds equal to 75% of the Allowed Priority Wage Claim based upon prior agreement. Two Disputed Priority Wage Claims were filed, one by Doug Karp in the amount of $5,000 and one by Vasudev Rawani in the amount of $4,500. Both of these claims will be the subject of objections, to be heard in connection with the Confirmation Hearing. Additionally, Avalon Risk Management as agent for Southwest Marine & General Insurance Co. has filed a disputed priority customs claim in the amount of $110,000, which will also be the subject of an objection to be heard in connection with the Confirmation Hearing. Class II consists of Allowed Unsecured Claims. Each holder of an Allowed Unsecured Claim shall receive a pro-rata dividend on the Effective Date from the remaining Net Distributable Cash Proceeds following payment to Administrative Claims, U.S. Trustee Fees and Class I claims, estimated to be less than 1%. The Debtor does not intend to file formal objections to the Class II claims, but will negotiate with the larger creditors in an effort to reduce the total pool of general unsecured claims to roughly $2 million. The sole member of the Debtor, Scott Silverstein, shall receive no distributions whatsoever on account of his claims or equity interests, and his interests shall be deemed canceled. The Plan shall be implemented based upon the collection and distribution of Net Distributable Cash Proceeds by the Disbursing Agent on the Effective Date. A full-text copy of the Disclosure Statement dated April 22, 2021, is available at https://bit.ly/3eyTL2D from PacerMonitor.com at no charge. Attorneys for the Debtor: Kevin J. Nash, Esq. Goldberg Weprin Finkel Goldstein LLP 1501 Broadway, 22nd Floor New York, NY 10036 Tel: (212)-301-6944/(212)-221-5700 Fax: (212) 422-6836 Email: KNash@gwfglaw.com About Scott Silverstein LLC Scott Silverstein LLC is a manufacturer of ladies' shoes and handbags under the Adrianna Papell label. Its customers are retailers and department stores, including Macy's. Scott Silverstein LLC filed a voluntary petition under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Case No. 19-11370) on April 19, 2019. In the petition signed by Scott Silverstein, manager and member, the Debtor estimated $1 million to $10 million in both assets and liabilities. Goldberg Weprin Finkel Goldstein LLP is the Debtor's counsel. SECURE HOME: Expects to Conclude Chapter 11 Process in 60 Days -------------------------------------------------------------- Secure Home Holdings, a leading provider in home security, announced today that 100% of its senior lenders and other key stakeholders have agreed to support the Company's prepackaged plan of reorganization (the "Plan") under Chapter 11 of the U.S. Bankruptcy Code. The Plan provides for elimination of approximately $235 million of legacy debt obligations, strengthening of Secure Home Holdings's financial structure, and support for the Company's long-term growth plans. This decisive action will allow the Company to focus on core competencies, including providing superior service to its customers, without the burden of servicing significant debt levels. All operations will continue as usual without interruption and the Chapter 11 process is expected to conclude within approximately 60 days. Secure Home Holdings will continue to operate in the ordinary course of business during the restructuring process. The Company has received commitments from its senior lenders for $15 million of fresh capital to continue providing exceptional, uninterrupted service to its customers during the period of the financial restructuring while also meeting its financial obligations to suppliers and other vendors and employees. This transaction will provide a capital structure to ensure the Company's long-term viability and set the foundation for Secure Home Holdings's next phase of growth. "The residential security industry faced numerous challenges over the last year, including multiple long-time industry lenders deciding to exit the space. This shift in the debt market was further exacerbated by the unprecedented COVID-19 pandemic resulting in significant pressure on cash flow and liquidity," said Amy Kothari, Secure Home Holdings's Chief Executive Officer. "As a result, we took decisive action to address these challenges and deleverage our balance sheet to position us for future growth and sustainable success. We are grateful for the support from our lenders and advisors throughout this process and especially thankful for the incredible patience, hard work and dedication of our employees. We are highly confident that the work we have done and the path we have chosen will result in a much stronger capital structure and bright future for our Company, our partners, and our employees, allowing us to continue to provide superior support and service to our customers." With the significant support of its lenders and other key stakeholders, implementation of the Plan, which remains subject to approval by the Bankruptcy Court and final consummation, will enable the Company to quickly and efficiently recapitalize its balance sheet with no material impact on the majority of its creditors. Upon the effective date, the remaining debt will be converted to equity and a new capital structure will be put in place to support the needs of the Company going forward. The Company is seeking customary approvals from the court overseeing its Chapter 11 case. Operations will continue as usual through the court-supervised process, including the continued dedication to meeting and exceeding customer expectations and needs. The long-standing supplier, vendor and partner relationships essential to the Company's success will remain unimpaired during the restructuring. About Secure Home Holdings Newtown Square, Pennsylvania-based Secure Home Holdings LLC and its affiliates are a national provider of technologically advanced security solutions, including residential and commercial security systems, home automation systems, smoke and carbon monoxide detectors, and other security solutions in communities throughout the United States. On April 25, 2021, Secure Home Holdings LLC and its affiliates sought Chapter 11 protection (Bankr. D. Del. Lead Case No. 21-10745). Secure Home estimated assets and liabilities of $100 million to $500 million. The Debtors tapped Chipman Brown Cicero & Cole, LLP, as bankruptcy counsel; SKADDEN, ARPS, SLATE, MEAGHER & FLOM LLP as special bankruptcy counsel; M3 ADVISORY PARTNERS, LP, as financial advisor; and RAYMOND JAMES & ASSOCIATES, INC., as investment banker. KURTZMAN CARSON CONSULTANTS LLC is the claims agent. SECURE HOME: Files for Chapter 11 With Debt-for-Equity Plan ----------------------------------------------------------- Secure Home Holdings LLC and its affiliates have sought Chapter 11 protection to pursue a balance-sheet restructuring, supported by the vast majority of the Debtors' creditors. The Debtors are substantially current on their ordinary course obligations, and request expedited consideration of their prepackaged plan of reorganization to maximize value through preserving customer confidence in the Debtors' world-class security solutions. As of the Petition Date, certain of the Debtors are obligated as borrowers, issuers, or guarantors on two secured credit facilities: * $197 million outstanding under their first-lien credit facility with d Seaport Loan Products LLC and Acquiom Agency Services LLC, as co-administrative agents and Acquiom Agency Services LLC as collateral agent * $34 million outstanding under a second lien term loan facility with Goldman Sachs Specialty Lending Group, L.P., as administrative agent After negotiations, the Debtors reached an agreement with the First Lien Lenders on the terms of a prepackaged plan of reorganization. The Plan will, upon confirmation and the occurrence of the effective date, distribute the equity in the Reorganized Debtors to the First Lien Lenders and will provide for the payment in full of administrative, priority and other secured claims. The Plan further provides for the assumption of the Debtors' executory contracts and unexpired leases, subject to the exclusion of those that may be identified as rejected. The Plan and the transactions contemplated thereby preserves the Debtors' operations and ability to continue to provide uninterrupted services to their customers. The Plan provides the most efficient and cost-effective path forward for the Debtors, will maximize recovery for the First Lien Lenders and other constituents, and will preserve jobs for the Debtors' employees. Invesco and the remaining First Lien Lenders have agreed to provide a proposed $15 million "new money" DIP facility, together with a "roll up" of $30 million of the First Lien Prepetition Obligations, at a competitive coupon rate and fee structure (the "DIP Facility"). The anticipated benefits of the Plan include, without limitation: (a) Payment of the DIP Lenders (i) in full of amounts outstanding under the New Money DIP Facility in either Cash or (with the prior written consent of the Consenting Secured Lenders) an equal amount of DIP Takeback Loans and (ii) in full of the amounts outstanding under the Roll-Up DIP Facility in Reorganized Equity Interests at an implied equity value based on an assumed plan enterprise value of $145 million after deducting the estimated funded portion of the Exit Facilities and any DIP Takeback Loans on the Effective Date, subject to dilution from the Management Incentive Plan; (b) Conversion of not less than $95.0million of First Lien Secured Claims to equity; (c) Treatment of approximately $106.5million of First Lien Deficiency Claims and Second Lien Deficiency Claims as General Unsecured Claims under the Plan; (d) An Exit Facility, which if obtained, will be set forth in the Exit Facility Documents filed as part of the Plan Supplement; and (e) Prompt emergence from chapter 11. Under the Plan, All General Unsecured Claims will be discharged and will receive no distribution on account of such claims. About Secure Home Holdings Newtown Square, Pennsylvania-based Secure Home Holdings LLC and its affiliates are a national provider of technologically advanced security solutions, including residential and commercial security systems, home automation systems, smoke and carbon monoxide detectors, and other security solutions in communities throughout the United States. On April 25, 2021, Secure Home Holdings LLC and its affiliates sought Chapter 11 protection (Bankr. D. Del. Lead Case No. 21-10745). Secure Home estimated assets and liabilities of $100 million to $500 million. The Debtors tapped Chipman Brown Cicero & Cole, LLP, as bankruptcy counsel; SKADDEN, ARPS, SLATE, MEAGHER & FLOM LLP as special bankruptcy counsel; M3 ADVISORY PARTNERS, LP, as financial advisor; and RAYMOND JAMES & ASSOCIATES, INC., as investment banker. KURTZMAN CARSON CONSULTANTS LLC is the claims agent. SOLOMON EDUCATION: Gets Court Approval to Hire Realtors ------------------------------------------------------- Solomon Education Group, LLC received approval from the U.S. Bankruptcy Court for the Western District of Washington to employ Re/Max Northwest Realtors and its member, Charles Doepp, to sell the Debtor's commercial property. Mr. Doepp and Re/Max Northwest Realtors will get a total sales commission of 4 percent. Re/Max Northwest Realtors offers 2 percent of this commission to the broker representing the buyer. As disclosed in court filings, Re/Max Northwest Realtors is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Charles Doepp Re/Max Northwest Realtors 1909 214th St. SE, Suite 205 Bothell, WA 98021 Telephone: (425) 481-8888 Mobile: (425) 280-4540 About Solomon Education Group Solomon Education Group, LLC -- http://www.solomonschool.com-- is a Mukilteo, Wash.-based limited liability company that runs a private day and boarding school for grades 7 to 12. Solomon Education Group sought protection under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Wash. Case No. 21-10539) on March 18, 2021. In the petition signed by Richard Lee, managing member, the Debtor disclosed $1 million to $10 million in both assets and liabilities. Judge Timothy W. Dore oversees the case. Thomas D. Neeleman, Esq., at Neeleman Law Group, P.C. is the Debtor's legal counsel. STEWART SUPERMARKET: Seeks to Hire Timothy Thomas as New Counsel ---------------------------------------------------------------- Stewart Supermarket, LLC seeks approval from the U.S. Bankruptcy Court for the District of Nevada to employ the Law Office of Timothy Thomas, LLC as its new bankruptcy counsel. The firm will substitute for Robert Atkinson, Esq., at Atkinson Law Associates Ltd., who withdrew as the Debtor's attorney in its Chapter 11 case. The firm's services include: a. representing the Debtor in negotiations with creditors; b. preparing a plan of reorganization and taking legal steps to protect the Debtor's rights under the Bankruptcy Code; c. performing an analysis of asset valuation and claims filed against the Debtor; and d. performing an analysis of claims held by the Debtor and advising the Debtor regarding its duties under the Bankruptcy Code, the Bankruptcy Rules and the U.S. trustee's guidelines. The Law Office of Timothy Thomas will be paid based upon its normal and usual hourly rates and reimbursed for out-of-pocket expenses incurred. The retainer fee is $6,000. Timothy Thomas, Esq., a partner at the Law Office of Timothy P. Thomas, disclosed in a court filing that his firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Timothy P. Thomas, Esq. Law Office of Timothy P. Thomas, LLC 1771 E. Flamingo Rd. Ste. 212-B Las Vegas, NV 89119 Tel: (702) 227-0011 Fax: (702) 227-0334 Email: tthomas@tthomaslaw.com About Stewart Supermarket Stewart Supermarket, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Nev. Case No. 21-11508) on March 26, 2021. Maher Al-Sayegh, manager, signed the petition. At the time of the filing, the Debtor disclosed $115,944 in assets and $2,367,682 in liabilities. Judge August B. Landis oversees the case. The Debtor is represented by the Law Office of Timothy P. Thomas, LLC. STHEALTH CAPITAL: Chief Compliance Officer Resigns -------------------------------------------------- Anthony V. Raftopol, the chief compliance officer of StHealth Capital Investment Corporation, resigned from his position with the Company, effective as of March 31, 2021, to pursue other professional opportunities. Mr. Raftopol also resigned from all other positions he may have had with the Company. The departure of Mr. Raftopol was not related to any disagreement with the Company's operations, policies or practices. On March 31, 2021, the Company named Hayley E. Lowe as its chief compliance officer and chief legal counsel. The appointment is effective as of that date. Ms. Lowe is a member in good standing with the Bar of the states of New York and Texas. About STHEALTH Headquartered in New York, StHealth Capital Investment Corp. (formerly First Capital Investment Corporation and Freedom Capital Corporation), was incorporated under the general corporation laws of the State of Maryland on June 19, 2014. The Company is a non-diversified, closed-end management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended, and that intends to elect to be treated for federal income tax purposes, and intends to qualify annually thereafter, as a regulated investment company, under Subchapter M of the Internal Revenue Code of 1986, as amended. Houston, Texas-based MaloneBailey, LLP, the Company's auditor since 2017, issued a "going concern" qualification in its report dated March 30, 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. STHEALTH CAPITAL: Delays Filing of 2020 Annual Report ----------------------------------------------------- StHealth Capital Investment Corporation filed a Form 12b-25 with the Securities and Exchange Commission notifying the delay in the filing of its Annual Report on Form 10-K for the period ended Dec. 31, 2020. StHealth was unable to file its Annual Report by the prescribed date of March 31, 2021, without unreasonable effort or expense because it needs additional time to complete certain disclosures and analyses to be included in the Report. The Company intends to file the Report on or prior to the fifteenth calendar day following the prescribed due date or as soon as possible. About STHEALTH Headquartered in New York, StHealth Capital Investment Corp. (formerly First Capital Investment Corporation and Freedom Capital Corporation), was incorporated under the general corporation laws of the State of Maryland on June 19, 2014. The Company is a non-diversified, closed-end management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended, and that intends to elect to be treated for federal income tax purposes, and intends to qualify annually thereafter, as a regulated investment company, under Subchapter M of the Internal Revenue Code of 1986, as amended. Houston, Texas-based MaloneBailey, LLP, the Company's auditor since 2017, issued a "going concern" qualification in its report dated March 30, 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. SUGARLOAF HOLDINGS: Trustee Selling Pahvant and Mascaro Claims -------------------------------------------------------------- David L. Miller, as trustee of the chapter 11 bankruptcy estate of Sugarloaf Holdings, LLC, asks the U.S. Bankruptcy Court for the District of Utah to authorize the sale of the Debtor's right, title, and interest in and to the following claims, counterclaims, and crossclaims to Farms, LLC, subject to overbid: a. Counterclaims against Double O Pahvant Properties, LLC, Leo Stott, Elizabeth Stott, Clark Thomas, Demar Iverson, and Matthew R. Kessler and a crossclaim against LB Ranch in civil case 180700008 in the Fourth Judicial District Court for Millard County - Fillmore Department, State of Utah ("Pahvant Claims") for $5,000; and b. Claims against Leslie Mascaro in civil case 170700036 in the Fourth Judicial District Court for Millard County - Fillmore Department, State of Utah ("Mascaro Claims") for $2,188. On Schedule A/B, the Debtor scheduled, among other things, an interest in the the Pahvant Claims and the Mascaro Claims. On the Petition Date and presently, the Pahvant Claims and the Mascaro Claims were and are titled in the Debtor's name. Pursuant to 11 U.S.C. Section 541, the Pahvant Claims and the Mascaro Claims are property of the Debtor's Chapter 11 bankruptcy estate. The Trustee is not aware of any liens against the Pahvant Claims or the Mascaro Claims. Notwithstanding, he proposes to sell the Pahvant Claims and the Mascaro Claims to Farms free and clear of any and all liens, interests, and encumbrances. The Debtor is not entitled to any exemption in the Pahvant Claims or the Mascaro Claims. The Trustee has not attempted to formally market the Pahvant Claims or the Mascaro Claims. However, he has (or will through the Motion and its accompanying notice) made the counsel for the parties connected to the Pahvant Claims and the Mascaro Claims aware of the sale and their ability to submit a higher and better offer to that of Farms. With te Motion, the Trustee proposes to sell all of the Debtor's right, title, and interest in the Pahvant Claims and the Mascaro Claims to Farms free and clear of any and all liens, interests, and encumbrances. The purchase price for the Pahvant Claims is $5,000. The purchase price for the Mascaro Claims is $2,188. The sale of the Pahvant Claims and the Mascaro Claims to Farms or any other party with a higher and better offer is on an "as is, where is," "if is" basis, with no representations or warranties, and with all faults. The Trustee recommends and asks that the Court grants the Motion and approves the sale of the Pahvant Claims and the Mascaro Claims to Farms or any other party with a higher and better offer. In connection with the Motion, the Trustee will send notice of the Motion and his request for higher and better offers to all parties-in-interest. Any person or entity wishing to make a higher and better offer to that presented by Farms will submit the offer to Trustee, in writing at davidlmillerpc@msn.com (with a copy to Mark C. Rose at mrose@mbt-law.com), on or before the objection deadline set forth in the notice of hearing accompanying this motion. If a higher and better offer is received, Trustee will give notice of the higher and better offer to Farms and will arrange for an auction between Farms and any party making a higher and better offer to that of Farms prior to the hearing to approve this motion. The highest and best offer at the auction, as determined by Trustee in his sole discretion, will be presented to the Court at the hearing on this motion as the party to whom the Pahvant Claims and the Mascaro Claims should be sold. The highest bidder at any auction must agree to pay the bid amount within three business days of the Court approving the sale. The Trustee asks the Court to waive the 14-day stay of Rule 6004(h). Expedited consummation of the sale will preserve property from the estate and will result in a greater return to creditors. About Sugarloaf Holdings Sugarloaf Holdings, LLC -- http://sugarloafholdings.com/-- is a privately-held company in Lehi, Utah, whose business consists of farming and ranching operations. Sugarloaf Holdings filed a Chapter 11 petition (Bankr. D. Utah Case No. 18-27705) on Oct. 15, 2018. In the petition signed by David J. Gray, manager, the Debtor disclosed $21,067,619 in total assets and $15,666,618 in total debt. The case is assigned to Judge Kevin R. Anderson. The Debtor is represented by Parsons Behle & Latimer. The Debtor tapped Berkeley Research Group as its financial advisor; Dwayne Asay and Squire & Company, PC, as accountants; and J. Philip Cook and J. Philip Cook, LLC, as forensic real estate professionals. On Aug. 7, 2020, the Court appointed David L. Miller as Trustee of the Debtor's chapter 11 bankruptcy estate. SUNERGY CALIFORNIA: Committee Gets OK to Tap Financial Advisor -------------------------------------------------------------- The official committee of unsecured creditors appointed in the Chapter 11 case of Sunergy California, LLC received approval from the U.S. Bankruptcy Court for the Eastern District of California to employ Dundon Advisers, LLC as financial advisor. The firm will render these services: (a) assist in the analysis, review, and monitoring of the restructuring process; (b) develop a sufficient understanding of the Debtor's businesses; (c) assist the committee in identifying, valuing, and pursuing estate causes of action; (d) advise the committee in negotiations with the Debtor and third parties; (e) assist the committee in reviewing the Debtor's financial reports; (f) review and provide analysis of any proposed disclosure statement and Chapter 11 plan; (g) assist the committee to understand the posture of non-debtor affiliates; (h) attend meetings and assist in discussions with the committee and present at meetings of the committee; and (i) perform such other advisory services as requested by the committee during the course of the engagement. The hourly rates of the firm's counsel and staff are as follows: Matthew J. Dundon $750 Alejandro Mazier $700 Tabish Rizvi $550 Ming Shen $550 Michael Garbe $600 Matthew Dundon, Esq., a partner at Dundon Advisers, disclosed in a court filing 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: Matthew J. Dundon, Esq. Dundon Advisers, LLC 440 Mamaroneck Avenue, Fifth Floor Harrison, NY 10528 Telephone: (914) 341-1188 Facsimile: (212) 202-4437 About Sunergy California Sunergy California LLC -- http://www.sunergyus.com/-- is a solar module supplier. It was founded in 2016 and is headquartered and has module production facilities in Sacramento, Calif. Sunergy California filed a Chapter 11 petition (Bankr. E.D. Calif. Case No. 21-20172) on Jan. 20, 2021. In the petition signed by Lu Han, chairman, the Debtor disclosed total assets of $7,629,993 and total liabilities of $17,226,553. Judge Christopher M. Klein oversees the case. Gonzalez & Gonzalez Law, P.C. and RKF Global PLLC serve as the Debtor's bankruptcy counsel and special counsel, respectively. The U.S. Trustee for Region 17 appointed an official committee of unsecured creditors on March 17, 2021. The committee tapped Downey Brand, LLP as legal counsel and Dundon Advisers, LLC as financial advisor. THAKORJI INC: May 24 Plan Confirmation Hearing Set -------------------------------------------------- On March 24, 2021, Thakorji, Inc., filed with the U.S. Bankruptcy Court for the Northern District of Georgia a Chapter 11 Plan of Reorganization and a Disclosure Statement. On April 22, 2021, Judge Sage M. Sigler approved the Disclosure Statement and established the following dates and deadlines: * May 21, 2021, is fixed as the last day for filing written acceptances or rejections of the Plan. * May 21, 2021, is fixed as the last day for filing and serving written objections to the confirmation of the Plan. * May 24, 2021, is fixed for the hearing on confirmation of the Plan. A full-text copy of the order dated April 22, 2021, is available at https://bit.ly/3ezdZJB from PacerMonitor.com at no charge. Attorneys for Debtor: Danowitz Legal, PC 1640 Powers Ferry Road Building 24, Suite 350 Marietta, GA 30067 Tel: 770-933-0960 About Thakorji Inc. Thakorji, Inc., is a single asset real estate as defined in 11 U.S.C. Section 101(51B). It owns a hotel located at 7910 Mall Ring Road, Lithonia, Ga. Thakorji filed a voluntary Chapter 11 petition (Bankr. N.D. Ga. Case No. 18-70018) on Nov. 30, 2018. At the time of the filing, the Debtor disclosed assets of between $1 million and $10 million and liabilities of the same range. Judge Sage M. Sigler oversees the case. Danowitz Legal, P.C. serves as Debtor's legal counsel. TIDEWATER ESTATES: Bensons Buying Hancock County Property for $126K ------------------------------------------------------------------- Tidewater Estates, Inc., asks the U.S. Bankruptcy Court for the Southern District of Mississippi to authorize the sale of a 25-acre parcel and a 5-acre parcel, with an aggregate 30 acres, South of the Kiln-Delisle Road, both fronting on Kiln-Delisle Road and identified on the 2020 Appraisal as part of Parcels 3 & 4, to Michael Benson and Vanessa Benson for a total sale price of $126,000 or $4,200 per acre. At the time of the filing of the Petition, the Debtor was the owner of a parcel of real property located in Hancock County, Mississippi, immediately North of the City of Diamondhead, Mississippi. The Debtor entered into a Contract for the Sale and Purchase of Real Estate for two separate adjacent parcels of land dated Jan. 1, 2021, to sell to the Buyers. The Purchase Price would be $4,200 per acre for 30 acres, as depicted on the survey (Exhibit C) for a total sale price of $126,000. If approved by the Court, the sale of the Property will be closed by May 1, 2021, or as soon thereafter as an Order from the Court approving sale is entered. As set forth in the Contract, the Debtor has agreed to pay the following expenses only: a. A Real Estate Commission of 10% of the sale price to Paulette Snyder with Re/Max Coast Delta Realty, as the listing broker, and to Cynthia Rush with the same firm as the selling broker. b. Taxes due for 2020 and prior years. c. Prorated taxes for 2021 to the date of closing. The Purchasers have agreed to pay all closing costs and to pay for a survey. A real estate commission will become due on the sale to Paulette Snyder, Cynthia Rush, and RE/Max Coast Delta Realty, and the Debtor will apply for authority to employ said Paulette Snyder and Re/Max Coast Delta Realty for the bankruptcy estate prior to the closing date. The sale contemplated by the Motion should release the Property from all existing liens and transfer such lien to the proceeds of sale. Upon the consummation of the proposed sale, the Debtor will deposit the net proceeds into its DIP account, with further distribution outside the ordinary course of business only with specific authority of the Court; and the Debtor will file a report of the sale in compliance with Bankruptcy Rule 6004(f)(1). Interested party and alleged creditor, Gregory E. Bertucci filed a Lis Pendens Notice with the Chancery Clerk of Hancock County, Mississippi on Dec. 30, 2015, recorded at Lis Pendens Book 2015, Page 45, which, until cancelled in whole or in part, manifests a lien on all of the Debtors real property, including the property proposed to be sold. Gregory E. Bertucci has filed a claim, (Claim No. 1), in the case for $364,378.02, to which the Debtor has objected as barred by the applicable statutes of limitations, not supported by documentation and improperly submitted (in part) on behalf of third parties, via Adversary Proceeding No. 20-06032-KMS before the Court. Said Adversary Proceeding also requests that the Court determines its validity and extent of the alleged lien manifested by the aforementioned lis pendens notice, and finds that the lis pendens is invalid and should be cancelled in its entirety. After the sale of the 30 acres sought to be sold, the Debtor will have property of adequate value to pay all of its obligations, and to protect the claim of Gregory E. Bertucci in the event it is determined to be valid. The value of the remaining property will be, according to the Sept. 1, 2020 Appraisal of Allen Purvis & Associates, jointly commissioned by the Debtor and Gregory E. Bertucci, in excess of $1 .8 million. Ther prays that the Court will enter the Order authorizing the sale of the Property to the Buyers pursuant to the Contract, provided payment is made in the following manner: (i) proration of the County ad valorem taxes for 2021, (ii) county ad valorem taxes for 2020 and unpaid ad valorem taxes for prior years, and (iii) a real estate commission of 10% of the sale price to Paulette Snyder and Cynthia Rush and Re/Max Coast Delta Realty. It further prays that the Court authorizes that the Property be sold free and clear of all liens. A copy of the Contract is available at https://tinyurl.com/yx2tnuk4 from PacerMonitor.com free of charge. About Tidewater Estates, Inc. Tidewater Estates, Inc. filed its voluntary petition for relief under CHapter 11 of the Bankruptcy Code (Bankr. S.D. Miss. Case No. 20-50955) on June 9, 2020. In the petition signed by Emile A. Bertucci, III, director, secretary/treasurer, the Debtor estimated $1 million to $10 million in assets and $500,000 to $1 million in liabilities. The Debtor is represented by Patrick Sheehan, Esq. at SHEEHAN AND RAMSEY, PLLC. TIDEWATER ESTATES: Selling 20-Acre Hancock County Property for $86K ------------------------------------------------------------------- Tidewater Estates, Inc., asks the U.S. Bankruptcy Court for the Southern District of Mississippi to authorize the sale of approximately 20 acres on the South end of that part of Hancock County Tax Parcel No. 066-0-24-013.000 lying North of the Kiln-Delisle Road, to Ty J. Necaise for approximately $86,000 or $4,200 per acre. At the time of the filing of the Petition the Debtor was the owner of a parcel of real property located in Hancock County, Mississippi, proximate to the City of Diamondhead, Mississippi. The Debtor entered into a Contract for the Sale and Purchase of Real Estate dated March 9, 2021 as to the Property, to sell to the Buyer. The Property to be purchased is approximately 20 acres lying North of the Kiln-Delisle Road and fronting on the Kiln Delisle Road and on Runnymead Road and identified on the 2020 Appraisal as part of Parcel No. 3/4. The Purchase Price is $4,200 per acre for approximately 20 acres pending survey, for a total sale price of approximately $86,000. If approved by the Court, the sale of the property will be closed by May 14, 2021, or as soon thereafter as an Order from the Court approving sale is entered. As set forth in the Contract, the Debtor has agreed to pay the following expenses only: a. A Real Estate Commission of 10% of the sale price to Paulette Snyder and Re/Max Coast Delta Realty. Such commission is the usual commission in the instant real estate market for unimproved land to be paid to a reputable broker and sales agent. b. Taxes due for 2020 and prior years. c. Prorated taxes for 2021 to the date of closing. The Purchaser has agreed to pay all closing costs and to pay for a survey. A real estate commission will become due on the sale to Paulette Snyder and RE/Max Coast Delta Realty. Re/Max Coast Delta Realty and Paulette Snyder have been approved by the Court to be retained and compensated as real estate professionals for the Debtor. The sale contemplated by the Motion should release the Property from all existing liens and transfer such liens to the proceeds of sale. Interested party and alleged creditor, Gregory E. Bertucci, filed a Lis Pendens Notice with the Chancery Clerk of Hancock County, Mississippi on Dec. 30, 2015, recorded at Lis Pendens Book 2015, Page 45, which, until cancelled in whole or in part, manifests a lien on all of the Debtors real property, including the property proposed to be sold. Upon the consummation of the proposed sale, the Debtor will deposit the net proceeds into its DIP account for further distribution - outside the ordinary course of business only with speciﬁc authority of the Court and will file a report of the sale in compliance with Bankruptcy Rule 6004(f)(1). Gregory E. Bertucci has filed a claim, (Claim No. 1), in the case for $364,378.02, to which the Debtor has objected as barred by the applicable statutes of limitations, not supported by documentation and improperly submitted (in part) on behalf of third parties, via Adversary Proceeding No. 20-06032-KMS before the Court. Said Adversary Proceeding also asks a Court determination of the validity and extent of the alleged lien manifested by said lis pendens notice, and a finding that the lis pendens is invalid and should be cancelled in its entirety. After the sale of the approximately 20 acres sought to be sold, the Debtor will have property of adequate value to pay all of its obligations, and to protect the claim of Gregory E. Bertucci in the event it is determined to be valid. The Debtor has a business justification for selling this and other real property outside of the ordinary course of business, which is to partially retire a commercial loan from Gulf Coast Bank & Trust Co., now assigned to Bryan J. Bertucci, which loan has matured and bears default interest at 21% per annum. Its board of directors has made a judgment that it would be in the best interest of the Debtor to sell the subject property and reduce the principal amount of the aforesaid high interest loan. The Debtor prays that the Court will enter the Order authorizing the sale of the Property by the Debtor to the Buyer, pursuant to the Contract, provided payment is made in the following manner: (i) proration of the County ad valorem taxes for 2021; (ii) county ad valorem taxes for 2020 and unpaid ad valorem taxes for prior years, if any; and (iii) a real estate commission of 10% of the sale price to Paulette Snyder and Re/Max Coast Delta Realty and Paulette Snyder. The Debtor further prays that the Court (i) authorizes that the Property be sold free and clear of all liens and (ii) it be authorized to pay down the secured lien held by Dr. Bryan J. Bertucci in amount of up to 85% of the net proceeds of sale (purchase price net of taxes and commissions). A copy of the Contract is available at https://tinyurl.com/2bekznrn from PacerMonitor.com free of charge. About Tidewater Estates, Inc. Tidewater Estates, Inc. filed its voluntary petition for relief under CHapter 11 of the Bankruptcy Code (Bankr. S.D. Miss. Case No. 20-50955) on June 9, 2020. In the petition signed by Emile A. Bertucci, III, director, secretary/treasurer, the Debtor estimated $1 million to $10 million in assets and $500,000 to $1 million in liabilities. The Debtor is represented by Patrick Sheehan, Esq. at SHEEHAN AND RAMSEY, PLLC. TIMOTHY KYLE ELLIS: Sheppard Buying 2003 Maxi-Load Scales for $5.5K ------------------------------------------------------------------- Timothy Kyle Ellis and Melody Roxann Ellis ask the U.S. Bankruptcy Court for the Eastern District of North Carolina to authorize the private sale of their 2003 Maxi-Load Scales, Serial No. 261, which includes the associated monitor and battery charger, to Sheppard Logging & Timber, LLC, for $5,500. A hearing on the Motion is set for May 13, 2021, at 10:00 a.m. (EST), utilizing the following dial-in conference call instructions: Dial-In No.: 1-888-273-3658, Access Code: 3113071. The Objection Deadline is May 10, 2021. The Debtors propose to sell the Property free and clear of any and all liens, encumbrances, claims, rights and other interests, including but not limited to the following: a. Any and all property taxes due and owing to any City, County, or municipal corporation, including the Columbus County Tax Collector and the Town of Delco; b. Any and all liens of Allegheny Resources, LLC based upon UCC financing statement filed with the North Carolina Secretary of State; and c. Any and all remaining interests, liens, encumbrances, rights and claims asserted against the Property, which relate to or arise as a result of a sale of the Property, or which may be asserted against the Buyer of the Property, including, but limited to, those liens, encumbrances, interests, rights and claims, whether fixed and liquidated or contingent and unliquidated, that have or may be asserted against the Property or the Buyer of the Property by the North Carolina Department of Revenue, the Internal Revenue Service, and any and all other taxing and government authorities. The liens will attach to the proceeds of sale, if any. Upon information and belief, Allegheny Resources is the only UCC creditor that may have a claim to the sale proceeds based upon blanket language contained within the relevant UCC-1 Financing Statement with the North Carolina Secretary of State on March 30, 2020, File No. 20200033725F. The Buyer's principal office is located at 465 Garris Hill Loop, Smoaks, SC 29481 and its principal office is Herman Sheppard. The Buyer is not related to the Debtors. If any creditor claiming a lien, encumbrance, right or interest on, in or against the Debtors' Property, or against a buyer of the Debtors’ Property, does not object within the time allowed, it should be deemed to have consented to sale of the Debtors' Property free and clear of its liens, claims, encumbrances, rights, and interests. The Debtors assert that the proposed sale was negotiated in good faith and represents an above-market price for the Property. They believe now is the ideal time to sell the Property in order to maximize the amount that may be paid to its creditors based upon: (i) the depreciable nature its personal property; (ii) the current market for this type of property; and (iii) the lack of an ongoing need for the Property. The proposed sale will be free and clear of all liens and encumbrances, with all liens attaching to the proceeds of the encumbered property. The Debtors believe that a private sale of the Property will yield the maximum benefit for its creditors. The Buyer will pay the purchase price to the counsel for the Debtors, which will then disburse the sales proceeds according to priorities of the Bankruptcy Code or, if necessary, further Order of the Court. The Chapter 11 case is In re Timothy Kyle Ellis And Melody Roxann Ellis (Bankr. E.D.N.C. Case No. 20-03833-5-JNC). TWO GUNS CONSULTING: May Use Cash Collateral Until May 13 --------------------------------------------------------- Judge David R. Jones granted Two Guns Consulting & Construction, LLC interim authority until May 13, 2021, to use cash collateral to pay, based on the budget, costs and expenses in the reorganization process of the Debtor's Chapter 11 proceeding, and for the expenses necessary to preserve the bankruptcy estate. The Court ruled the Debtor will pay Prosperity Bank monthly adequate protection of $2,000, subject to further Court orders. The Court will conduct a further telephonic and video hearing on the motion on May 13, 2021 at 9:00 a.m. A copy of the interim order is available free of charge at https://bit.ly/3xa1ah8 from PacerMonitor.com. About Two Guns Consulting & Construction Two Guns Consulting & Construction, LLC is a company in the heavy and civil engineering construction industry. Two Guns Consulting & Construction sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Texas Case No. 21-21061) on March 9, 2021. Charles Luke Duncan, sole managing member, signed the petition. In the petition, the Debtor disclosed total assets of $1,313,914 and total liabilities of $5,038,064. Judge David R. Jones oversees the case. Jordan Holzer & Ortiz, P.C. is the Debtor's legal counsel. UNIVERSAL TOWERS: Liquidating Trustee Taps Burr & Forman as Counsel ------------------------------------------------------------------- Mark Healy, the trustee appointed under Universal Towers Construction, Inc.'s Chapter 11 plan of liquidation, seeks approval from the U.S. Bankruptcy Court for the Middle District of Florida to employ Burr & Forman, LLP as his legal counsel. The firm will render these legal services: (a) advise the liquidating trustee regarding his rights and duties under the Chapter 11 plan; (b) prepare pleadings and filings related to the Debtor's bankruptcy case; and (c) take any and all necessary action incident to the proper preservation and administration of the Debtor's estate. The hourly rates of the firm's counsel and staff are as follows: Christopher R. Thompson $415 Eric S. Golden $525 Attorneys $350 - $550 Associates $200 - $350 In addition, the firm will seek reimbursement for expenses. Eric Golden, Esq., a managing partner at Burr & Forman, 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 through: Eric S. Golden, Esq. Burr & Forman LLP 200 South Orange Avenue, Suite 800 Orlando, FL 32801 Telephone: (407) 540-6600 Facsimile: (407) 540-6601 Email: egolden@burr.com About Universal Towers Construction Universal Towers Construction, Inc. owns the 400-room Crowne Plaza Hotel located at 7800 Universal Blvd., Orlando, Fla. Universal Towers Construction filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 20-03799) on July 3, 2020. Lis R. Oliveira-Sommerville, president of Universal Towers, signed the petition. At the time of the filing, the Debtor was estimated to have $10 million to $50 million in both assets and liabilities. Judge Karen S. Jennemann oversees the case. Eric S. Golden, Esq., at Burr & Forman LLP, serves as the Debtor's legal counsel. The Debtor filed its Chapter 11 plan of liquidation on Oct. 30, 2020. Mark Healy is the liquidating trustee appointed under the plan. He is represented by Burr & Forman, LLP. US CONSTRUCTION: Gets OK to Use Cash Collateral ----------------------------------------------- Judge Jeffrey P. Norman of the U.S. Bankruptcy Court for the Southern District of Texas authorized US Construction Services, LLC to use cash collateral until June 4, 2021 to pay operating expenses according to the budget. Lender Veritex Community Bank, a holder of interest in the cash collateral, is granted a continuing valid, binding, enforceable and automatically perfected post-petition security interest in, and replacement liens on, all assets of the Debtor, as adequate protection against diminution in value of the Lender's interests in said cash collateral. The Lender's adequate protection liens shall have the same validity and priority as the Lender's pre-petition lien on the Debtor's property. The Debtor shall pay the Lender $1,500 no later than 2 p.m. on each of May 4, 2021, May 18, 2021 and June 1, 2021, as adequate protection. The Court will convene a hearing to consider the Lender's request to convert the Debtor's case to one under Chapter 7 on June 3, 2021 at 9:30 a.m. A copy of the order is available for free at https://bit.ly/3ew3nLr from PacerMonitor.com. About US Construction Services US Construction Services, LLC is a Dickinson, Texas-based company in the residential building construction industry. US Construction Services sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Texas Case No. 21-80029) on Feb. 19, 2021. Whitney Jones, the managing member, signed the petition. In the petition, the Debtor declared total assets of $2,400,000 and total liabilities of $1,262,826. Judge Jeffrey P. Norman oversees the case. Zendeh Del & Associates, PLLC and Patout Law, PLLC serve as the Debtor's bankruptcy counsel and special litigation counsel, respectively. Counsel for Veritex Community Bank, lender: Shelley Bush Marmon, Esq. Carlton D. Wilde, Jr., Esq. CRADY JEWETT McCULLEY & HOUREN LLP 2727 Allen Parkway, Suite 1700 Houston, TX 77019-2125 Telephone: (713) 739-7007 Facsimile: (713) 739-8403 Email: smarmon@cjmhlaw.com cwilde@cjmhlaw.com VERTICAL MAC: Sets Bidding Procedures for $78K Sale of Assets ------------------------------------------------------------- Vertical Mac Construction, LLC, asks the U.S. Bankruptcy Court for the Middle District of Florida to authorize the bidding procedures in connection with the sale of assets to Vertical Multi LLC for $77,754 cash, plus assumption of the Subcontractor Obligations, under the terms set forth in the Letter of Intent, dated March 29, 2021, subject to overbid. In order to maximize the value of its assets for its estate and its creditors, subject to the Court's approval, the Debtor intends to sell the Assets to the Purchaser, pursuant to the sale and bidding processes it propose. The sale will be "as-is, where is," without any warranties of any kind other than as to title, free and clear of all liens, claims, encumbrances, and interests. Formed in 2007, the Debtor is a contractor that specializes in stucco installations for residential homes. Rodrigo Penaloza is the Debtor’s manager and sole member. Mr. Penaloza also works in the operations of the Purchaser. Miah Penaloza MacMaster, who is Mr. Penaloza's daughter, is the sole member of the Purchaser. For several years, the Debtor was a successful and profitable company. Unfortunately, in 2017, certain of the homeowners for whom the Debtor installed stucco ("Defect Claimants") began making claims against homebuilders and the Debtor based on frivolous allegations of improper installation of stucco. To date, the Debtor has faced hundreds of claims from the Defect Claimants based on such allegedly defective work under Chapter 558 of the Florida Statutes -- Florida's statutory scheme for construction defect claims. Some of the claims resulted in lawsuits filed against the Debtor. The Debtor denies that it improperly installed the stucco. The Debtor's liability insurance covered the defense of some of the claims of the Defect Claimants, but the mounting frivolous claims and lawsuits resulted in its inability to renew its insurance or obtain replacement coverage. Unfortunately, these frivolous lawsuits of the Defect Claimants led to the demise of the Debtor. Without insurance, the Debtor could no longer operate. In 2018, in an effort to begin doing work, including stucco installation, on multi-family residences, Mr. Penaloza formed the Purchaser. The Purchaser has been able to obtain insurance and intends to buy the assets of the Debtor free and clear of liens, claims, and encumbrances. The Debtor's primary creditors are the Defect Claimants. It also owes a total of $187,184 to two subcontractors: (i) Marjos Services, LLC ($99,450), and (ii) MCGO Services, LLC ($87,734). The Debtor's only remaining trade debt is owed to Cellux, LLC ($137,360). It also owes Mr. Penaloza and his wife, $6,000 each in wages for the month of September 2020. The Debtor does not owe money to any other employees. The Motion is filed, in part, to aks approval of the bidding and sale procedures in connection with the sale of the Assets. The Debtor intends to sell the Assets through a sale process described in the Motion, pursuant to the schedule proposed or as directed by the Court, and consistent with: (i) the due process requirements of the Bankruptcy Code and the Federal Rules of Bankruptcy Procedure; and (ii) the LOI. The Assets to be sold are expressly designated and defined as the "Purchased Assets" in the LOI. The LOI contemplates, inter alia, the following: a. Seller: Vertical Mac Construction, LLC b. Purchaser: Vertical Multi LLC c. Property: The "Purchased Assets" specifically listed in Exhibit A attached to the LOI, "as is" and "where is" without recourse and with all faults and defects, latent or otherwise. d. Purchase Price: The purchase price for the Assets will consist of (i) $77,754 in cash payable at closing, plus (ii) assumption of the Subcontractor Obligations. e. Deposit: $10,000, to be applied to the Purchase Price or returned as provided in the Bid Procedures. f. Free and Clear: The Debtor will convey the Assets to the Purchaser free and clear of all liens, claims, liabilities, encumbrances, and other interests, which will attach to the proceeds. g. Conditions Precedent: The closing of the transactions as contemplated by the LOI is subject only to the entry of a final, non-appealable order by the Court approving the sale of the Assets free and clear of all liens, claims, encumbrances, and interests, including any potential claims for successor liability. The Sale Order will be considered final and non-appealable on the 15th day following entry of the Sale Order, provided that the Sale Order has not been appealed, stayed, or subject to a motion for reconsideration or rehearing. h. Timing of Closing: It is anticipated that the Closing will occur within three business days of the Sale Order becoming a Final Order. Notwithstanding the foregoing, the Debtor and the Purchaser will use reasonable efforts to ensure that the Closing will occur by June 1, 2021. i. Expense Reimbursement: In the event the Purchaser is not the successful purchaser of the Purchased Assets and the Debtor sells the Purchased Assets to a third party purchaser, Purchaser will be entitled to (i) reimbursement for its reasonable expenses incurred for due diligence, contract negotiation and contract preparation, which amount will be an amount up to $5,000, to be paid from the proceeds of the sale of the Purchased Assets to a successful third party purchaser, and (ii) the return of the Deposit. j. Assumed Liabilities: The Purchaser will assume the Subcontractor Obligations. Except for the Subcontractor Obligations, no liabilities of any kind or nature will be assumed by Purchaser. The Sale Order will provide that the Purchaser will not be deemed a successor to the Debtor for any purpose. The salient terms of the Bidding Procedures are: a. Bid Deadline: No later than 5:00 p.m. (EST) on the business day prior to Auction b. Initial Bid: Purchase Price plus $5,000 c. Deposit: $10,000 d. Auction: An auction to be conducted in accordance with the Bid Procedures and to occur at such time as set forth in the order approving the Bid Procedures. The Debtor anticipates holding the Auction virtually via Zoom. At the Bid Procedures and Sale Process Hearing, the Debtor will ask the Court to schedule a date and time for the Auction to occur within approximately 45 days from the Bid Procedures and Sale Process Hearing. e. Bid Increments: $5,000 f. Sale Hearing: At the Bid Procedures and Sale Process Hearing, the Debtor will ask the Court to set the Sale Hearing for a date that is within five days following the date of the Auction. g. Sale Objection Deadline: The Debtor also asks the Court to set a deadline of two business days prior to the Auction for any party to object to file any objection to the sale of assets contemplated by the Motion. The Debtor also asks approval for the Sale Notice to be used in connection with the print and internet marketing and advertising. The Debtor will publish the Sale Notice in two print editions of the Orlando Business Journal, commencing in the first available edition following approval of the Bidding Procedures and with the second Sale Notice to be published two weeks later. The Debtor asks the Court schedules the Auction to occur not earlier than 30 days following the date of publication of the second edition of Orlando Business Journal in which the Sale Notice runs. The requested advertising period, expected to last approximately 45 days, will give potential interested parties sufficient time to consider making a competing Bid for the Assets. At the Sale Hearing, the Debtor will request that the Court enters an order waiving the 14-day stay period set forth in Rule 6004(h) of the Federal Rules of Bankruptcy Procedure and providing that the order granting the Motion be immediately enforceable and that the closing may occur immediately. The Debtor believes that the bidding and auction procedures, including proceeding with the Purchaser as the "stalking horse" bidder, sets forth a process to achieve the highest and best offer for the benefit of its bankruptcy estate. The Debtor has proposed a sale process, pursuant to the Motion or as may be otherwise ordered by the Court, in order to provide maximum flexibility to the estate to ensure a reasonable outcome for the estate. A copy of the LOI and the Bidding Procedures is available at https://tinyurl.com/dxkrtjhv from PacerMonitor.com free of charge. Vertical Mac Construction, LLC sought Chapter 11 protectioon (Bankr. M.D. Fla. Case No. 21-01520) on April 6, 2021. The Edward J. Peterson, Esq., at Stichter, Riedel, Blain & Postler, P.A. as counsel. VERTICAL MAC: Vertical Multi LLC Buying Assets for $77.8K Cash -------------------------------------------------------------- Judge Lori V. Vaughan of the U.S. Bankruptcy Court for the Middle District of Florida had scheduled a hearing on April 27, 2021, at 11:00 a.m., to consider Vertical Mac Construction, LLC's bidding procedures in connection with the sale of assets to Vertical Multi LLC for $77,754 cash, plus assumption of the Subcontractor Obligations, under the terms set forth in the Letter of Intent, dated March 29, 2021, subject to overbid. Any party opposing the relief sought at this hearing was to appear at the hearing or any objections or defenses may be deemed waived. Parties, who wanted to attend the hearing, were advised to register for Zoom Meeting at: https://pacer.flmb.uscourts.gov/fwxflmb/zoom/. They were to attend the hearing by Zoom only. However, parties who wished to listen only, who do not anticipate active participation, or lack the necessary technology to participate by video attended the hearing via Court Call by calling (866-582-6878) by 5:00 p.m., the business day preceding the hearing for Judge Vaughn. Vertical Mac Construction, LLC sought Chapter 11 protection (Bankr. M.D. Fla. Case No. 21-01520) on April 6, 2021. The Edward J. Peterson, Esq., at Stichter, Riedel, Blain & Postler, P.A. as counsel. WARDMAN HOTEL: U.S. Trustee Unable to Appoint Committee ------------------------------------------------------- The U.S. Trustee for Region 3 disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of Wardman Hotel Owner, LLC. About Wardman Hotel Wardman Hotel Owner, LLC owns Marriott Wardman Park Hotel, a convention hotel located at 2600 Woodley Road NW, Washington, D.C. Wardman Hotel Owner filed a Chapter 11 bankruptcy petition (Bankr. D. Del. Case No. 21-10023) on Jan. 11, 2021. In its petition, the Debtor disclosed assets of between $100 million and $500 million and liabilities of the same range. James D. Decker, manager, signed the petition. Judge John T. Dorsey oversees the case. Pachulski Stang Ziehl & Jones, LLP and Pryor Cashman, LLP serve as the Debtor's bankruptcy counsel and special litigation counsel, respectively. WC CUSTER CREEK: Selling Unexpired Leases and Assets to Hillcroft ----------------------------------------------------------------- WC Custer Creek Center Property, LLC, asks the U.S. the U.S. Bankruptcy Court for the Western District of Texas to authorize the sale of assets to Hillcroft Partners, Inc. The Debtor executed a purchase and sale agreement with the Purchaser on April 8, 2021, for the purchase of the Assets, with such sale to close by May 7, 2021, subject to the Court's prior approval. All creditors and administrative expenses are expected to be paid in full from the proceeds of the Sale should the Court approve it. The earnest money deposit required in the PSA has been tendered by the Purchaser. The PSA calls for the payment of a brokerage commissions to Vision Commercial Real Estate and Wynmark Commercial Real Estate Group, PLLC ("Buyer's Broker") of 1.75% of the Purchase Price to each of the Seller's Broker and the Buyer's Broker from funds received at the closing of the Sale. The Debtor is party to a number of unexpired leases, including over 20 unexpired real property leases for retail space. The PSA requires the assumption and assignment of one or more of these unexpired leases in connection with the proposed acquisition. For each unexpired lease identified in the PSA, the Debtor asks authority under Sections 105(a) and 365 to (i) assume and assign to the Purchaser each such lease (curing or providing for the cure of any arrearages in connection therewith) and (ii) execute and deliver such documents as may be necessary to effectuate the assignment and transfer thereof. Through the filing of the Sale Motion, the Debtor is providing notice of the proposed Sale. Contemporaneously with the Motion, the Debtor is filing a motion for expedited consideration of the Sale Motion requesting that the motion be heard the week of May 3, 2021. Closing under the PSA is scheduled to occur May 7, 2021, provided the Court grants the Sale Motion. The Debtor believes that given the facts and circumstances, including that the proceeds from the Sale is expected to yield proceeds sufficient to pay creditors in full, the notice period of the Motion constitutes adequate and reasonable notice to interested parties. The Sale of the Assets is proposed to be made free and clear of any and all liens, claims, encumbrances, and interests in the Assets, including but not limited to those set forth on the Schedule C of the Commitment for Title Insurance. By the Sale Motion, the Debtor also seeks an order permitting it to assume and assign all of its tenant leases to the Purchaser. A list of these tenant leases is provided in the "List of Assumed Leases and Cure Schedule" (Exhibit B). Finally, the Debtor asks that any order entered by the Court granting the relief requested herein take effect immediately by waiver of the 14-day stay imposed by Rules 6004 or 6006. The request is made so that it may proceed to close on the transaction contemplated within the time frame required by the PSA and necessary to achieve the financial goals presently it set. A copy of the Exhibits is available at https://tinyurl.com/2ktydp55 from PacerMonitor.com free of charge. About WC Custer Creek Center Property Austin, Texas-based WC Custer Creek Center Property, LLC filed a Chapter 11 petition (Bankr. W.D. Texas Case No. 20-11202) on Nov. 2, 2020. Natin Paul, manager, signed the petition. In its petition, the Debtor was estimated to have $10 million to $50 million in assets and $1 million to $10 million in liabilities. Judge Tony M. Davis oversees the case. The Debtor tapped Fishman Jackson Ronquillo, PLLC and Reed Smith LLP as its legal counsel. Columbia Consulting Group, PLLC is the Debtor's financial advisor. Counsel for the Debtor may be reached at: Omar J. Alaniz, Esq. Michael P. Cooley, Esq. Devan J. Dal Col, Esq. REED SMITH LLP 2850 N. Harwood, Suite 1500 Dallas, TX 75201 Telephone: (469) 680-4200 Facsimile: (469) 680-4299 Counsel for lender Spring Custer, LLC: Jason G. Cohen, Esq. William A. (Trey) Wood III, Esq. Christopher L. Dodson, Esq. BRACEWELL LLP 711 Louisiana, Suite 2300 Houston, TX 77002 Telephone: (713) 223-2300 Facsimile: (713) 221-1212 E-mail: Jason.Cohen@bracewell.com Trey.Wood@bracewell.com Chris.Dodson@bracewell.com WILDWOOD VILLAGES: Seeks to Hire Rallis Segundo as Accountant ------------------------------------------------------------- Wildwood Villages, LLC seeks approval from the U.S. Bankruptcy Court for the Middle District of Florida to employ Rallis Segundo, P.A. as accountant. The firm will provide these services: a. prepare annual tax returns; and b. prepare annual compilation of the special purpose financial statement in accordance with the Debtor's applicable deed restrictions. Rallis Segundo will be paid a fee of $3,000 and reimbursed for out-of-pocket expenses incurred. The retainer fee is $1,500. John Rallis, II, a partner at Rallis Segundo, disclosed in a court filing that his firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: John N. Rallis, II Rallis Segundo, P.A. 4053 Summerwood Ave. Orlando, FL 3812 Tel: (407) 812-8490 Fax: (407) 812-8495 Email: tax@ralliscpa.com About Wildwood Villages Wildwood Villages, LLC is a Wildwood, Fla.-based company engaged in activities related to real estate. Wildwood Villages filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 20-02569) on Aug. 28, 2020. Jonathan Woods, manager, signed the petition. The Debtor disclosed $3,150,861 in assets and $3,428,386 in liabilities. Matthew S. Kish, Esq., at Shapiro Blasi Wasserman & Hermann, PA, represents the Debtor as legal counsel. YOUNG 5801: Case Summary & Unsecured Creditor --------------------------------------------- Debtor: Young 5801, LLC 5801 East Washington Blvd Commerce, CA 90040 Business Description: Young 5801, LLC is a Single Asset Real Estate (as defined in 11 U.S.C. Section 101(51B)). The Debtor is the fee simple owner of a property located at 5801 E. Washington Blvd., Commerce, CA, having an appraised value of $1.64 million. Chapter 11 Petition Date: April 26, 2021 Court: United States Bankruptcy Court Central District of California Case No.: 21-13366 Judge: Hon. Sandra R. Klein Debtor's Counsel: Anthony O. Egbase, Esq. A.O.E. LAW & ASSOCIATES, APC 350 South Figueroa St. Ste 189 Los Angeles, CA 90071 Tel: 213-620-7070 Fax: 213-620-1200 E-mail: info@aoelaw.com Total Assets: $1,641,147 Total Liabilities: $1,265,878 The petition was signed by Young Woon Choi, managing member. The Debtor listed the LA County Tax Collector as its sole unsecured creditor holding a claim of $15,969. A full-text copy of the petition is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/5KNT4NA/Young_5801_LLC__cacbke-21-13366__0001.0.pdf?mcid=tGE4TAMA ********* Monday's edition of the TCR delivers a list of indicative prices for bond issues that reportedly trade well below par. Prices are obtained by TCR editors from a variety of outside sources during the prior week we think are reliable. Those sources may not, however, be complete or accurate. The Monday Bond Pricing table is compiled on the Friday prior to publication. Prices reported are not intended to reflect actual trades. Prices for actual trades are probably different. Our objective is to share information, not make markets in publicly traded securities. Nothing in the TCR constitutes an offer or solicitation to buy or sell any security of any kind. It is likely that some entity affiliated with a TCR editor holds some position in the issuers public debt and equity securities about which we report. Each Tuesday edition of the TCR contains a list of companies with insolvent balance sheets whose shares trade higher than $3 per share in public markets. At first glance, this list may look like the definitive compilation of stocks that are ideal to sell short. Don't be fooled. Assets, for example, reported at historical cost net of depreciation may understate the true value of a firm's assets. A company may establish reserves on its balance sheet for liabilities that may never materialize. The prices at which equity securities trade in public market are determined by more than a balance sheet solvency test. On Thursdays, the TCR delivers a list of recently filed Chapter 11 cases involving less than $1,000,000 in assets and liabilities delivered to nation's bankruptcy courts. The list includes links to freely downloadable images of these small-dollar petitions in Acrobat PDF format. 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Villacampa, Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo Fernandez, Christopher G. Patalinghug, and Peter A. Chapman, Editors. Copyright 2021. All rights reserved. ISSN: 1520-9474. This material is copyrighted and any commercial use, resale or publication in any form (including e-mail forwarding, electronic re-mailing and photocopying) is strictly prohibited without prior written permission of the publishers. Information contained herein is obtained from sources believed to be reliable, but is not guaranteed. The TCR subscription rate is $975 for 6 months delivered via e-mail. Additional e-mail subscriptions for members of the same firm for the term of the initial subscription or balance thereof are $25 each. For subscription information, contact Peter A. Chapman at 215-945-7000. *** End of Transmission ***